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NORWvsFEZETF Comparison

ETF 1

NORW

Global X MSCI Norway ETF

This fund is part of

Europe Blended Cap

+0.76%

Full NORW fund page

VS

ETF 2

FEZ

State Street SPDR EURO STOXX 50 ETF

This fund is part of

Europe Blended Cap

+0.76%

Full FEZ fund page

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, Financials and Consumer Staples. In contrast, FEZ's top sector exposures are Industrials, Financials and Information Technology. NORW is more expensive with a Total Expense Ratio (TER) of 0.5%, versus 0.29% for FEZ. NORW is up 23.93% year-to-date (YTD) with +$51M in YTD flows. FEZ performs worse with 7.17% YTD performance, and -$723M 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.

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NORW vs FEZ performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 06/12/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	NORW FEZ	-2.65%+5.39%	+4.00%+9.91%	+23.93%+7.17%	+27.72%+18.01%	+80.23%+66.54%	+43.30%+63.26%
Flows	NORW FEZ	-$25M-$66M	+$8M-$724M	+$51M-$723M	+$51M-$800M	+$42M+$375M	+$91M+$504M

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	NORW FEZ	+15.73%+24.32%	+15.42%+18.40%	+19.10%+18.06%	+21.93%+20.92%
Max drawdown	NORW FEZ	-5.65%-5.28%	-9.34%-12.89%	-15.97%-15.03%	-33.23%-34.74%
Max drawdown duration	NORW FEZ	22d43d	115d107d	48d44d	1147d584d

Trading data

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	NORW	FEZ
Last sale 6/15/2026 at 3:46 PM	$36.47	$69.90
Previous close 06/12/2026	$37.19	$68.98
Consolidated volume 06/12/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of May 29, 2026

1-year trailing difference

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	NORW	FEZ
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 6/15/2026 at 3:46 PM

Live

Closed

	NORW	FEZ
Last price	$36.47	$69.90
1D performance	-1.94%	+1.33%
AuM	$127.13 M	$4.57 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	49	47
Asset class	Equities	Equities
Trailing 12m distribution yield	Join	Join
Inception date	August 17, 2009	October 15, 2002
ESG	No	No

More NORW data on Trackinsight

More FEZ data on Trackinsight

Exposure

Countries

NORW

Norway

88.16%

Other

11.84%

FEZ

Germany

29.96%

France

29.95%

Netherlands

19.21%

Italy

7.38%

Other

13.49%

Sectors

NORW

Energy

25.84%

Financials

22.36%

Consumer Staples

11.64%

Materials

11.14%

Other

29.02%

FEZ

Industrials

22.01%

Financials

18.84%

Information Techn.

16.12%

Consumer Discreti.

9.83%

Other

33.2%

Diversification

NORW

Total weight of top 15 holdings out of 15

72.95%

FEZ

Total weight of top 15 holdings out of 15

52.6%

Top 15 holdings

Data as of April 30, 2026

NORW

EQUINOR

13.73%

DNB BANK

11.29%

NORSK HYDRO

6.54%

NO0013536151

6.12%

AKER BP ASA

5.15%

MOWI ASA

4.39%

YARA INTL

4.03%

ORKLA

3.62%

TELENOR

3.58%

UNI STOREBRAND

3.34%

SUBSEA

3.34%

GJENSIDIGE

2.38%

SCHIBSTED

1.88%

SPAREBANK1 SRANK

1.88%

SALMAR

1.68%

FEZ

ASML HOLDING

10.10%

SIEMENS

4.51%

TOTALENERGIES SE

4.12%

SCHNEIDER ELECTRIC SE

3.68%

SAP SE

3.53%

ALLIANZ SE

3.51%

SIEMENS ENERGY AG

3.32%

IBERDROLA SA

2.94%

LVMH MOET HENNESSY LOUIS VUITT

2.68%

AIR LIQUIDE

2.52%

AIRBUS SE

2.44%

SAFRAN

2.39%

UNICREDIT SPA

2.35%

DEUTSCHE TELEKOM AG

2.30%

BNP PARIBAS

2.20%

Frequently asked questions about NORW and FEZ

How have the NORW and FEZ ETFs performed in 2026?

As of June 12, 2026, NORW is up 23.93% year-to-date (YTD), while FEZ has returned 7.17%. 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 +$51M in flows, compared to -$723M for FEZ.

Which ETF is more volatile: NORW or FEZ?

Over the past year, NORW had a volatility of 15.42%, while FEZ experienced 18.4%.

Which ETF is bigger: NORW or FEZ?

As of June 12, 2026, NORW holds $127.13 M in assets under management (AUM), while FEZ manages $4.57 B.

What sectors do the NORW and FEZ ETFs invest in?

NORW leans toward sectors like Energy, Financials and Consumer Staples. Meanwhile, FEZ focuses on Industrials, Financials and Information Technology.

What are the top holdings of the NORW ETF and FEZ ETF?

NORW top holdings include EQUINOR, DNB BANK and NORSK HYDRO. FEZ holds in its top three: ASML HOLDING, SIEMENS and TOTALENERGIES SE.

Which ETF is more diversified: NORW or FEZ?

NORW holds 53 securities with 72.95% of its assets in the top 15. FEZ has 47 securities and a top 15 weight of 52.6%.

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FEZ

The ETF Underdogs, Part 2: 5 More ETFs Under $50 Million AUM to Watch

January 10, 2025

NORW

NORWvsFEZETF Comparison

Global X MSCI Norway ETF

State Street SPDR EURO STOXX 50 ETF

NORW vs FEZ performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the NORW and FEZ ETFs performed in 2026?

As of June 12, 2026, NORW is up 23.93% year-to-date (YTD), while FEZ has returned 7.17%. 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 +$51M in flows, compared to -$723M for FEZ.

Which ETF is more volatile: NORW or FEZ?

Over the past year, NORW had a volatility of 15.42%, while FEZ experienced 18.4%.

Which ETF is bigger: NORW or FEZ?

As of June 12, 2026, NORW holds $127.13 M in assets under management (AUM), while FEZ manages $4.57 B.

What sectors do the NORW and FEZ ETFs invest in?

NORW leans toward sectors like Energy, Financials and Consumer Staples. Meanwhile, FEZ focuses on Industrials, Financials and Information Technology.

What are the top holdings of the NORW ETF and FEZ ETF?

NORW top holdings include EQUINOR, DNB BANK and NORSK HYDRO. FEZ holds in its top three: ASML HOLDING, SIEMENS and TOTALENERGIES SE.

Which ETF is more diversified: NORW or FEZ?

NORW holds 53 securities with 72.95% of its assets in the top 15. FEZ has 47 securities and a top 15 weight of 52.6%.

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