NORWvsHEDJETF Comparison
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Global X MSCI Norway ETF (NORW) and WisdomTree Europe Hedged Equity Fund (HEDJ) belong to the same industry segment: Europe Blended Cap. NORW's top 3 sector exposures are Energy, Financials and Consumer Staples. In contrast, HEDJ's top sector exposures are Industrials, Financials and Consumer Discretionary. NORW is less expensive with a Total Expense Ratio (TER) of 0.5%, versus 0.58% for HEDJ. NORW is up 27.32% year-to-date (YTD) with +$76M in YTD flows. HEDJ performs worse with 3.58% YTD performance, and -$59M in YTD flows. Run a side-by-side ETF comparison of NORW and HEDJ 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 HEDJ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 05/13/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | NORW HEDJ | -0.64%+0.68% | +11.69%-0.02% | +27.32%+3.58% | +44.59%+13.64% | +82.11%+46.01% | +56.50%+68.76% |
| Flows | NORW HEDJ | -$32M-$16M | +$72M-$40M | +$76M-$59M | +$77M-$195M | +$65M-$77M | +$116M-$714M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | NORW HEDJ | +18.36%+21.38% | +15.75%+14.37% | +19.27%+14.53% | +21.94%+16.03% |
| Max drawdown | NORW HEDJ | -4.29%-10.75% | -9.34%-10.75% | -15.97%-15.72% | -33.23%-22.44% |
| Max drawdown duration | NORW HEDJ | 11d77d | 115d77d | 48d74d | 1147d406d |
Trading data
NORW | HEDJ | |
Last sale 5/14/2026 at 3:32 PM | $38.50 | $55.37 |
| Previous close 05/13/2026 | $38.52 | $55.24 |
| Consolidated volume 05/13/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of April 30, 2026
1-year trailing difference
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NORW | HEDJ | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 5/14/2026 at 3:32 PM
Live
Closed
NORW | HEDJ | |
|---|---|---|
| Last price | $38.50 | $55.37 |
| 1D performance | -0.06% | +0.24% |
| AuM | $155.47 M | $1.79 B |
| E/R | 0.5% | 0.58% |
Characteristics
NORW | HEDJ | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Global X | WisdomTree |
| Benchmark | MSCI Norway IMI 25/50 Index | WisdomTree Europe Equity Index |
| N° of holdings | 50 | 126 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 17, 2009 | December 31, 2009 |
| ESG | No | No |
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Exposure
Countries
NORW
Norway
90.52%
Other
9.48%
HEDJ
Germany
24.26%
France
21.66%
Netherlands
18.32%
Spain
17.42%
Other
18.34%
Sectors
NORW
Energy
26.59%
Financials
22.12%
Consumer Staples
12.05%
Materials
10.85%
Other
28.39%
HEDJ
Industrials
20.42%
Financials
14.2%
Consumer Discreti.
13.31%
Consumer Staples
13.02%
Information Techn.
10.09%
Health Care
8.21%
Other
20.76%
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Diversification
NORW
Total weight of top 15 holdings out of 15
75.48%
HEDJ
Total weight of top 15 holdings out of 15
51.39%
Top 15 holdings
Data as of March 31, 2026
NORW
EQUINOR
15.16%
DNB BANK
11.55%
NO0013536151
7.75%
NORSK HYDRO
6.19%
AKER BP ASA
5.04%
MOWI ASA
4.53%
YARA INTL
4.09%
TELENOR
3.87%
ORKLA
3.71%
UNI STOREBRAND
3.19%
SUBSEA
2.90%
GJENSIDIGE
2.19%
SPAREBANK1 SRANK
1.90%
SCHIBSTED
1.74%
SALMAR
1.67%
HEDJ
BBVA
5.75%
ASML HOLDING
5.53%
BANCO SANTANDER SA
5.50%
DEUTSCHE TELEKOM AG
4.90%
SANOFI SA
4.40%
LVMH MOET HENNESSY LOUIS VUITT
4.28%
SIEMENS
3.48%
L OREAL S.A.
3.17%
BASF SE
2.46%
ANHEUSER-BUSCH INBEV SA/NV
2.44%
BMW AG
2.38%
SAP SE
1.82%
DAIMLER TRUCK AG
1.82%
LU2598331598
1.76%
SCHNEIDER ELECTRIC SE
1.69%
Frequently asked questions about NORW and HEDJ
How have the NORW and HEDJ ETFs performed in 2026?
As of May 13, 2026, NORW is up 27.32% year-to-date (YTD), while HEDJ has returned 3.58%. That puts NORW better performer ahead so far this year.
Which ETF is attracting more investor money: NORW or HEDJ?
Year-to-date, the NORW ETF saw +$76M in flows, compared to -$59M for HEDJ.
Which ETF is more volatile: NORW or HEDJ?
Over the past year, NORW had a volatility of 15.75%, while HEDJ experienced 14.37%.
Which ETF is bigger: NORW or HEDJ?
As of May 13, 2026, NORW holds $155.47 M in assets under management (AUM), while HEDJ manages $1.79 B.
What sectors do the NORW and HEDJ ETFs invest in?
NORW leans toward sectors like Energy, Financials and Consumer Staples. Meanwhile, HEDJ focuses on Industrials, Financials and Consumer Discretionary.
What are the top holdings of the NORW ETF and HEDJ ETF?
NORW top holdings include EQUINOR, DNB BANK and NO0013536151. HEDJ holds in its top three: BBVA, ASML HOLDING and BANCO SANTANDER SA.
Which ETF is more diversified: NORW or HEDJ?
NORW holds 53 securities with 75.48% of its assets in the top 15. HEDJ has 139 securities and a top 15 weight of 51.39%.
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