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NORWvsIEURETF Comparison

ETF 1

NORW

Global X MSCI Norway ETF

This fund is part of

Europe Blended Cap

-0.19%

Full NORW fund page

VS

ETF 2

IEUR

iShares Core MSCI Europe ETF

This fund is part of

Europe Blended Cap

-0.19%

Full IEUR fund page

Global X MSCI Norway ETF (NORW) and iShares Core MSCI Europe ETF (IEUR) belong to the same industry segment: Europe Blended Cap. NORW's top 3 sector exposures are Energy, Financials and Consumer Staples. In contrast, IEUR's top sector exposures are Financials, Industrials and Health Care. NORW is more expensive with a Total Expense Ratio (TER) of 0.5%, versus 0.1% for IEUR. NORW is up 26.95% year-to-date (YTD) with +$76M in YTD flows. IEUR performs worse with 5.57% YTD performance, and +$1.31B in YTD flows. Run a side-by-side ETF comparison of NORW and IEUR 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 IEUR performance and flow charts

Performance

Cumulative Flows

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Data Services

Historic performance and flows

Data as of 05/11/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	NORW IEUR	-0.93%-0.15%	+10.72%-1.09%	+26.95%+5.57%	+45.45%+21.67%	+84.26%+53.36%	+55.41%+53.17%
Flows	NORW IEUR	-$32M-$111M	+$72M+$1.20B	+$76M+$1.31B	+$77M+$1.52B	+$65M+$2.39B	+$116M+$3.33B

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	NORW IEUR	+18.70%+22.07%	+15.80%+15.01%	+19.28%+14.96%	+21.94%+17.34%
Max drawdown	NORW IEUR	-4.29%-11.85%	-9.34%-11.85%	-15.97%-13.88%	-33.23%-32.66%
Max drawdown duration	NORW IEUR	11d75d	115d75d	48d44d	1147d902d

Trading data

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	NORW	IEUR
Last sale 5/12/2026 at 3:09 PM	$38.16	$73.93
Previous close 05/11/2026	$38.19	$74.92
Consolidated volume 05/11/2026
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	IEUR
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 5/12/2026 at 3:09 PM

Live

Closed

	NORW	IEUR
Last price	$38.16	$73.93
1D performance	-0.08%	-1.32%
AuM	$155.01 M	$8.77 B
E/R	0.5%	0.1%

Characteristics

	NORW	IEUR
Management strategy	Passive	Passive
Provider	Global X	iShares
Benchmark	MSCI Norway IMI 25/50 Index	MSCI Europe IMI Index
N° of holdings	50	928
Asset class	Equities	Equities
Trailing 12m distribution yield	Join	Join
Inception date	August 17, 2009	June 10, 2014
ESG	No	No

More NORW data on Trackinsight

More IEUR data on Trackinsight

Exposure

Countries

NORW

Norway

90.52%

Other

9.48%

IEUR

United Kingdom

22.28%

Switzerland

13.98%

France

13.59%

Germany

13.14%

Netherlands

9.13%

Other

27.89%

Sectors

NORW

Energy

26.59%

Financials

22.12%

Consumer Staples

12.05%

Materials

10.85%

Other

28.39%

IEUR

Financials

21.16%

Industrials

18.1%

Health Care

9.02%

Information Techn.

7.71%

Consumer Staples

7.52%

Other

36.5%

Diversification

NORW

Total weight of top 15 holdings out of 15

75.48%

IEUR

Total weight of top 15 holdings out of 15

23.45%

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%

IEUR

ASML HOLDING

3.41%

ASTRAZENECA

2.04%

NOVARTIS

1.95%

HSBC HOLDINGS

1.88%

CH1499059983

1.88%

SHELL PLC

1.84%

NESTLE SA

1.71%

TOTALENERGIES SE

1.26%

SIEMENS

1.22%

SAP SE

1.20%

BANCO SANTANDER SA

1.10%

ALLIANZ SE

1.07%

IBERDROLA SA

1.00%

SCHNEIDER ELECTRIC SE

0.98%

DEUTSCHE TELEKOM AG

0.92%

Frequently asked questions about NORW and IEUR

NORWvsIEURETF Comparison

Global X MSCI Norway ETF

iShares Core MSCI Europe ETF

NORW vs IEUR performance and flow charts

Performance

Cumulative Flows

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Countries

Sectors

Diversification

Top 15 holdings

How have the NORW and IEUR ETFs performed in 2026?

As of May 11, 2026, NORW is up 26.95% year-to-date (YTD), while IEUR has returned 5.57%. That puts NORW better performer ahead so far this year.

Which ETF is attracting more investor money: NORW or IEUR?

Year-to-date, the NORW ETF saw +$76M in flows, compared to +$1.31B for IEUR.

Which ETF is more volatile: NORW or IEUR?

Over the past year, NORW had a volatility of 15.8%, while IEUR experienced 15.01%.

Which ETF is bigger: NORW or IEUR?

As of May 11, 2026, NORW holds $155.01 M in assets under management (AUM), while IEUR manages $8.77 B.

What sectors do the NORW and IEUR ETFs invest in?

NORW leans toward sectors like Energy, Financials and Consumer Staples. Meanwhile, IEUR focuses on Financials, Industrials and Health Care.

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

NORW top holdings include EQUINOR, DNB BANK and NO0013536151. IEUR holds in its top three: ASML HOLDING, ASTRAZENECA and NOVARTIS.

Which ETF is more diversified: NORW or IEUR?

NORW holds 53 securities with 75.48% of its assets in the top 15. IEUR has 1008 securities and a top 15 weight of 23.45%.

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