Global X - MSCI Norway ETF
$36.18+0.56 (+1.57%)
- 0.50%
- $92M
- +32.5%
- 7.12%
- 0.1M sh
- $35.68
- low $27.84high $39.39
The ETF.net NORW Grade
C
Score 43 out of 100
- 27 of 38
Score 43 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B55 out of 100Rank 10 of 38Mission
Whether the fund did what it promised, tested against its stated mandate.F16 out of 100Rank 34 of 35Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C52 out of 100Rank 14 of 37Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C49 out of 100Rank 20 of 38Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B60 out of 100Rank 13 of 36Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C41 out of 100Rank 31 of 38
Our read on NORW
CNorway in one ticker: not a skim of the blue chips, but the large, mid and small caps that make up nearly all of Oslo's investable market, with index caps that keep any single giant from taking over.
NORW seeks to track, before fees and expenses, the price and yield performance of the MSCI Norway IMI 25/50 Index.
Why people hold it
- The index reaches past the blue chips: large, mid and small caps covering roughly 99% of Norway's free-float market value, about 60 stocks in all.msci.com
- A 25/50 capping rule borrowed from US fund tax law holds any one component to 25% of the index, so a single national champion cannot quietly become the whole fund.msci.commsci.com
- Trading since 2010 under Global X, at a 0.50% expense ratio that sits right at the median for single-country developed-market funds.globalxetfs.com
Worth knowing
- That 0.50% is median, not cheap. Broad single-country peers like FLKR and FLAU charge 0.09%, though neither one buys Norway.
- One country, one currency, about 60 stocks. Results are measured in US dollars, so krone swings land in your return alongside the stocks themselves.msci.com
- Distributions arrive once or twice a year rather than monthly, and volume is moderate rather than deep, which can matter on larger orders.
NORW Holdings
- Stocks
- 61
- 58%
- EQNR.OL
Sectors
- Energy28.3%
- Financials22.8%
- Industrials19.0%
- Consumer Staples11.5%
- Materials8.4%
- Communication5.1%
- Technology3.7%
- Utilities0.7%
- Consumer Discretionary0.6%
- Real Estate0.2%
Geography
- Norway89.16%
- Cyprus3.39%
- Luxembourg3.39%
- Singapore1.09%
- Faroe Islands1.03%
- United Kingdom0.88%
- Denmark0.57%
- Bermuda0.48%
- 0.01%
Developed 95% · Emerging 5%
NORW Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
NORW$13,253
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | NORW |
|---|---|
| Year to date | +26.4% |
| 1 month | −5.5% |
| 3 months | +8.7% |
| 1 year | +32.5% |
| 3 years | +20.7% |
| 5 years | +7.9% |
| 10 years | +8.5% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | NORW |
|---|---|---|
| 2026 YTD | +26.4% | |
| 2025 | +32.6% | |
| 2024 | −2.5% | |
| 2023 | +5.0% | |
| 2022 | −12.5% | |
| 2021 | +18.0% | |
| 2020 | +1.5% |
NORW in the news
NORW Dividends
- 7.12%
- $2.53
- $2.10 per share
- Twice a year
Distribution history
NORW Risk
- 18.4%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.83
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −32.9%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.46
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
NORW Cost
0.50%
NORW0.50%
- The middle half of Developed Single Country funds
- Median 0.50%
13 of the 38 Developed Single Country funds charge less.
Other funds in Developed Single Country
- CFSZFirst Trust Switzerland AlphaDEX FundExpense ratio 0.80%1 year return +4.4%
- CIZRLARK Israel Innovative Technology ETFExpense ratio 0.49%1 year return −0.5%
- CEWYiShares MSCI South Korea ETFExpense ratio 0.59%1 year return +115.5%
- CISRAVanEck Israel ETFExpense ratio 0.59%1 year return +22.6%
- DKRWXCorgi ETF Trust I - Corgi South Korea 2x Daily ETFExpense ratio 0.45%1 year return —