NORWvsIEURETF Comparison
VS
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, Finance and Industrials. In contrast, IEUR's top sector exposures are Finance, Industrials and Healthcare. NORW is more expensive with a Total Expense Ratio (TER) of 0.5%, versus 0.1% for IEUR. NORW is up 29.17% year-to-date (YTD) with +$20M in YTD flows. IEUR performs worse with 9.15% YTD performance, and +$2.22B 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.
Find out how industry players manage ETF portfolios. Discover our library of Model portfolios
NORW vs IEUR 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 IEUR | +1.72%+4.16% | +1.92%-2.72% | +29.17%+9.15% | +34.88%+12.39% | +83.17%+66.78% | +45.16%+50.32% |
| Flows | NORW IEUR | -$3M+$193M | +$812K+$827M | +$20M+$2.22B | +$22M+$2.29B | +$11M+$3.53B | -$13M+$3.14B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | NORW IEUR | +14.44%+13.80% | +16.02%+16.21% | +18.19%+15.08% | +21.92%+17.49% |
| Max drawdown | NORW IEUR | -7.52%-7.93% | -13.77%-11.85% | -15.97%-13.88% | -33.23%-32.23% |
| Max drawdown duration | NORW IEUR | 50d78d | 91d110d | 48d44d | 1147d721d |
Trading data
NORW | IEUR | |
Last sale 11/13/2026 at 2:30 PM | $36.49 | $75.63 |
| Previous close 11/11/2026 | $36.36 | $75.49 |
| 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 | IEUR | |
|---|---|---|
| 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 | IEUR | |
|---|---|---|
| Last price | $36.49 | $75.63 |
| 1D performance | +0.36% | +0.19% |
| AuM | $91.19 M | $9.81 B |
| E/R | 0.5% | 0.1% |
Advertisement
Exposure
Countries
NORW
Norway
89.24%
Other
10.76%
IEUR
United Kingdom
22.18%
Switzerland
14.54%
Germany
12.9%
France
12.62%
Netherlands
10%
Other
27.75%
Sectors
NORW
Energy
31.76%
Finance
25.06%
Industrials
12.97%
Consumer Non-Cycl.
11.43%
Non-Energy Materi.
8.76%
Other
10.02%
IEUR
Finance
25.75%
Industrials
17.08%
Healthcare
11.54%
Technology
10.88%
Consumer Non-Cycl.
8.06%
Other
26.68%
Advertisement
Diversification
NORW
Total weight of top 15 holdings out of 15
70.6%
IEUR
Total weight of top 15 holdings out of 15
25.12%
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%
IEUR
ASML Holding NV
4.60%
HSBC Holdings Plc
2.23%
Roche Holding AG
1.92%
Shell Plc
1.79%
Novartis AG
1.72%
AstraZeneca PLC
1.61%
Nestlé SA
1.53%
Siemens AG
1.48%
SAP SE
1.40%
Banco Santander SA
1.30%
Schneider Electric SE
1.19%
Allianz SE
1.17%
TotalEnergies SE
1.09%
Rolls-Royce Holdings Plc
1.06%
Banco Bilbao Vizcaya Argentaria SA
1.03%
Frequently asked questions about NORW and IEUR
How have the NORW and IEUR ETFs performed in 2026?
As of November 11, 2026, NORW is up 29.17% year-to-date (YTD), while IEUR has returned 9.15%. 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 +$20M in flows, compared to +$2.22B for IEUR.
Which ETF is more volatile: NORW or IEUR?
Over the past year, NORW had a volatility of 16.02%, while IEUR experienced 16.21%.
Which ETF is bigger: NORW or IEUR?
As of November 11, 2026, NORW holds $91.19 M in assets under management (AUM), while IEUR manages $9.81 B.
What sectors do the NORW and IEUR ETFs invest in?
NORW leans toward sectors like Energy, Finance and Industrials. Meanwhile, IEUR focuses on Finance, Industrials and Healthcare.
What are the top holdings of the NORW ETF and IEUR ETF?
NORW top holdings include Equinor ASA, DNB Bank ASA and Kongsberg Gruppen ASA. IEUR holds in its top three: ASML Holding NV, HSBC Holdings Plc and Roche Holding AG.
Which ETF is more diversified: NORW or IEUR?
NORW holds 59 securities with 70.6% of its assets in the top 15. IEUR has 1009 securities and a top 15 weight of 25.12%.
Advertisement
Latest news about NORW & IEUR
ETF Comparison: Vanguard FTSE Europe ETF (VGK) Versus iShares Core MSCI Europe ETF (IEUR)
April 22, 2025
IEUR
Should You Hedge Currency Risk in European Equity ETFs?
April 9, 2025
IEUR
The ETF Underdogs, Part 2: 5 More ETFs Under $50 Million AUM to Watch
January 10, 2025
NORW
European energy crisis - ETFs to speculate and hedge with
September 15, 2022
IEUR
Advertisement
Advertisement
