NORWvsFEZETF Comparison
VS
Global X MSCI Norway ETF (NORW) and State Street SPDR EURO STOXX 50 ETF (FEZ) belong to the same industry segment: Europe Blended Cap. NORW's top 3 sector exposures are Energy, Finance and Industrials. In contrast, FEZ's top sector exposures are Finance, Industrials and Technology. NORW is more expensive with a Total Expense Ratio (TER) of 0.5%, versus 0.29% for FEZ. NORW is up 29.17% year-to-date (YTD) with +$20M in YTD flows. FEZ performs worse with 6.54% YTD performance, and -$926M in YTD flows. Run a side-by-side ETF comparison of NORW and FEZ below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
NORW vs FEZ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 11/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | NORW FEZ | +1.72%+2.49% | +1.92%-6.02% | +29.17%+6.54% | +34.88%+9.32% | +83.17%+68.99% | +45.16%+61.98% |
| Flows | NORW FEZ | -$3M- | +$812K-$10M | +$20M-$926M | +$22M-$781M | +$11M+$589M | -$13M+$386M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | NORW FEZ | +14.44%+15.17% | +16.02%+18.88% | +18.19%+17.82% | +21.92%+20.94% |
| Max drawdown | NORW FEZ | -7.52%-10.12% | -13.77%-12.89% | -15.97%-15.03% | -33.23%-34.28% |
| Max drawdown duration | NORW FEZ | 50d87d | 91d107d | 48d44d | 1147d521d |
Trading data
NORW | FEZ | |
Last sale 11/13/2026 at 2:30 PM | $36.49 | $67.17 |
| Previous close 11/11/2026 | $36.36 | $67.08 |
| Consolidated volume 11/11/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 30, 2026
1-year trailing difference
Create an account to view replication metrics
Join for free
NORW | FEZ | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Advertisement
Main metrics
Last update 11/13/2026 at 2:30 PM
Live
Closed
NORW | FEZ | |
|---|---|---|
| Last price | $36.49 | $67.17 |
| 1D performance | +0.36% | +0.13% |
| AuM | $91.19 M | $4.26 B |
| E/R | 0.5% | 0.29% |
Characteristics
NORW | FEZ | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Global X | State Street Investment Management |
| Benchmark | MSCI Norway IMI 25/50 Index | Euro Stoxx 50 Index |
| N° of holdings | 59 | 47 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 17, 2009 | October 15, 2002 |
| ESG | No | No |
Advertisement
Exposure
Countries
NORW
Norway
89.24%
Other
10.76%
FEZ
France
28.55%
Germany
28.32%
Netherlands
18.71%
Italy
8.6%
Other
15.81%
Sectors
NORW
Energy
31.76%
Finance
25.06%
Industrials
12.97%
Consumer Non-Cycl.
11.43%
Non-Energy Materi.
8.76%
Other
10.02%
FEZ
Finance
20.37%
Industrials
19.58%
Technology
17.74%
Other
42.31%
Advertisement
Diversification
NORW
Total weight of top 15 holdings out of 15
70.6%
FEZ
Total weight of top 15 holdings out of 15
53.03%
Top 15 holdings
Data as of September 30, 2026
NORW
Equinor ASA
12.16%
DNB Bank ASA
11.59%
Kongsberg Gruppen ASA
6.19%
Aker BP ASA
4.98%
Norsk Hydro ASA
4.92%
Mowi ASA
4.10%
Telenor ASA
3.66%
Storebrand ASA
3.51%
Subsea 7 SA
3.38%
Frontline Plc
3.19%
Yara International ASA
3.11%
Orkla ASA
3.07%
Gjensidige Forsikring ASA
2.40%
Vår Energi ASA
2.20%
Sparebank 1 Sør-Norge ASA
2.14%
FEZ
ASML Holding NV
10.77%
Siemens AG
4.50%
SAP SE
4.15%
TotalEnergies SE
3.84%
Schneider Electric SE
3.76%
Allianz SE
3.52%
Iberdrola SA
2.84%
UniCredit SpA
2.78%
Safran SA
2.75%
Siemens Energy AG
2.58%
Airbus SE
2.49%
Air Liquide SA
2.42%
Intesa Sanpaolo SpA
2.30%
BNP Paribas SA
2.19%
LVMH Moët Hennessy Louis Vuitton SE
2.13%
Frequently asked questions about NORW and FEZ
How have the NORW and FEZ ETFs performed in 2026?
As of November 11, 2026, NORW is up 29.17% year-to-date (YTD), while FEZ has returned 6.54%. That puts NORW better performer ahead so far this year.
Which ETF is attracting more investor money: NORW or FEZ?
Year-to-date, the NORW ETF saw +$20M in flows, compared to -$926M for FEZ.
Which ETF is more volatile: NORW or FEZ?
Over the past year, NORW had a volatility of 16.02%, while FEZ experienced 18.88%.
Which ETF is bigger: NORW or FEZ?
As of November 11, 2026, NORW holds $91.19 M in assets under management (AUM), while FEZ manages $4.26 B.
What sectors do the NORW and FEZ ETFs invest in?
NORW leans toward sectors like Energy, Finance and Industrials. Meanwhile, FEZ focuses on Finance, Industrials and Technology.
What are the top holdings of the NORW ETF and FEZ ETF?
NORW top holdings include Equinor ASA, DNB Bank ASA and Kongsberg Gruppen ASA. FEZ holds in its top three: ASML Holding NV, Siemens AG and SAP SE.
Which ETF is more diversified: NORW or FEZ?
NORW holds 59 securities with 70.6% of its assets in the top 15. FEZ has 47 securities and a top 15 weight of 53.03%.
Advertisement
Latest news about NORW & FEZ
The ETF Underdogs, Part 2: 5 More ETFs Under $50 Million AUM to Watch
January 10, 2025
NORW
Advertisement
Advertisement
