---
ticker: "EFNL"
name: "iShares MSCI Finland ETF"
url: "https://etf.net/etf/EFNL"
grade: "C"
score: 50
graded_at: "2026-10-12"
category: "Developed Single Country"
category_rank: "22 of 38"
methodology: "https://etf.net/methodology"
---

# EFNL: iShares MSCI Finland ETF

Grade **C**, Score 50 of 100. Rank 22 of 38 in Developed Single Country.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 30 | 26 of 38 |
| Mission | 76 | 11 of 35 |
| Risk | 59 | 12 of 37 |
| Tradability | 46 | 22 of 38 |
| Holdings | 34 | 28 of 36 |
| Durability | 70 | 12 of 38 |

## Top holdings

The fund holds 37 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | NDA-FI.HE | Nordea Bank | 19.21% |
| 2 | NOKIA.HE | Nokia | 17.41% |
| 3 | SAMPO.HE | Sampo Class A | 7.48% |
| 4 | KNEBV.HE | Kone | 4.70% |
| 5 | UPM.HE | Upm-Kymmene | 4.63% |
| 6 | METSO.HE | Metso Corporation | 4.50% |
| 7 | WRT1V.HE | Wartsila | 4.48% |
| 8 | NESTE.HE | Neste | 4.47% |
| 9 | FORTUM.HE | Fortum | 4.38% |
| 10 | ORNBV.HE | Orion Class B | 3.68% |
| 11 | KESKOB.HE | Kesko Class B | 2.68% |
| 12 | KCR.HE | Konecranes | 2.47% |
| 13 | STERV.HE | Stora Enso Class R | 2.38% |
| 14 | ELISA.HE | Elisa | 2.16% |
| 15 | VALMT.HE | Valmet Corp | 1.70% |
| 16 | MANTA.HE | Mandatum | 1.29% |
| 17 | HUH1V.HE | Huhtamaki | 1.22% |
| 18 | OUT1V.HE | Outokumpu | 1.06% |
| 19 | HIAB.HE | Hiab Corporation Class B | 1.05% |
| 20 | KEMIRA.HE | Kemira | 0.98% |
| 21 | TIETO.HE | Tieto | 0.97% |
| 22 | TYRES.HE | Nokian Renkaat | 0.95% |
| 23 | KALMAR.HE | Kalmar Corporation Class B | 0.82% |
| 24 | PUUILO.HE | Puuilo | 0.82% |
| 25 | LUMO.HE | Lumo Homes | 0.65% |
| 26 | BITTI.HE | Bittium | 0.62% |
| 27 | YIT.HE | Yit | 0.56% |
| 28 | HARVIA.HE | Harvia | 0.55% |
| 29 | QTCOM.HE | Qt Group | 0.51% |
| 30 | METSB.HE | Metsa Board Class B | 0.44% |

Source: etf.net, https://etf.net/etf/EFNL. Please cite the page URL.