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ENOR vs EWC

iShares MSCI Norway ETF

ENORDCboe

iShares MSCI Canada ETF

EWCANYSE Arca

Overlap

Expense ratio

EWC −0.03pt a year

ENOR0.53%EWC0.50%

Avg volume · 30D

EWC 16.3×the volume

ENOR103KEWC1.68M

10Y return · a year

EWC +1.6pt

ENOR+9.8%EWC+11.4%

ENOR vs EWC Performance

Oct 29, 2021 – Oct 30, 2026

+53.8%ENOR+71.2%EWC

Oct 29, 2021 to Oct 30, 2026. ENOR +53.8%. EWC +71.2%. Use the arrow keys to read each point.−20%0%20%40%Oct 2021Apr 2024Oct 2026
Expense ratio
ENOR 0.53%
EWC 0.50%, better
Fund size
ENOR $347M
EWC $7.58B
1Y total return
ENOR +44.0%, better
EWC +21.1%
Yield (12M)
ENOR 4.89%, better
EWC 1.24%
Holdings
ENOR 62
EWC 83
Avg volume (30D)
ENOR 103K sh
EWC 1.68M sh, better
NAV per share
ENOR $37.87
EWC $60.62
52W range

ETF.net Grade

ENOR: Cost 30, Risk 62, Mission 12, Tradability 41, Holdings 56, Durability 61. EWC: Cost 55, Risk 87, Mission 90, Tradability 97, Holdings 78, Durability 80.
Pillar letters and Scores for ENOR, EWC, with each pillar’s weight
PillarENOREWC
Cost30% weightD30B55Higher
Mission25% weightF12A90Higher
Risk15% weightB62A87Higher
Tradability15% weightC41A97Higher
Holdings10% weightB56A78Higher
Durability5% weightB61A80Higher

Rank among Developed Single Country funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. ENOR and EWC are both graded against the same 38 Developed Single Country funds, so their Grades compare head to head.

Developed Single Country⁠

Category · 38 funds
See all 38 ›

EWC ranks 1st and ENOR 34th of 38 funds in the Developed Single Country Category.

  1. Rank 1AEWCiShares MSCI Canada ETFScore 78
  2. Rank 1AFLCAFranklin FTSE Canada ETFScore 78
  3. Rank 33DEDENiShares MSCI Denmark ETFScore 37
  4. Rank 34DENORiShares MSCI Norway ETFScore 35
  5. Rank 35DISRLDefiance KSM Israel 120 ETFScore 32

Our read on each fund

ETF.net Research

ENORDiShares MSCI Norway ETF

EWCAiShares MSCI Canada ETF

In short

ENOR One ticker for Norway's listed market, large caps down to small. The index reaches roughly 99% of the country's investable stocks and applies caps that stop any single giant from swallowing the fund.

EWC A 1996 original: Canada's large and mid caps in one ticker, back when single-country funds were still a novelty. About 80 names, held through a capped MSCI index built so one giant can't swamp the basket.

Stated mandate

ENOR The fund seeks to track an index composed of Norwegian equities and provides targeted, single-country exposure to companies in Norway.

EWC The fund seeks to track an index representing Canadian equities, providing exposure to large- and mid-sized companies in Canada.

Why people hold it

  • ENOR Broad reach for a single-country fund: the MSCI Norway IMI 25/50 Index spans large, mid and small caps and covers about 99% of Norway's free float-adjusted market.msci.com
  • Concentration limits are built into the index. It applies the 25/50 caps US funds must respect, so no one stock can run away with the portfolio.msci.commsci.com 2
  • Over a decade of live history, launched by iShares in 2012 and traded through multiple market cycles since.ishares.com
  • EWC Running since 1996, which makes it one of the oldest US-listed ETFs still trading, and it is a multi-billion-dollar fund today.
  • Tracks the MSCI Canada Custom Capped Index closely, one of the tighter index-following records in its single-country developed peer group.ishares.com
  • Actively traded with among the easiest fills in its peer group, so the cost of getting in and out stays modest.
  • The capped index trims outsized single-name weights, so roughly 80 holdings stay a basket rather than a wager on two or three giants.ishares.com

Worth knowing

  • ENOR The 0.53% fee sits a touch above the median for developed single-country funds, and well above the 0.09% charged by trackers such as FLKR and FLAU.
  • About 60 stocks in one small market, and the krone matters: returns reflect the currency's move against the dollar as well as the shares.ishares.com
  • Modest in size and only moderately traded, so spreads can run wider than on giant broad-market funds. Limit orders are your friend.
  • EWC At 0.50%, the fee sits right at the median for single-country developed funds, and cheaper Canada exposure exists: BBCA runs 0.19%.
  • One country, about 80 stocks: a concentrated slice of the world, with Canadian dollar moves riding along in your US-dollar return.ishares.com
  • Distributions land once or twice a year rather than monthly or quarterly, so income arrives in lumps.

Full ENOR profile⁠

Full EWC profile⁠

ENOR vs EWC Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ENOR vs EWC Cost

Overpaying ENOR vs EWC

$557

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • ENOR 0.53%

    $10,536

  • EWC 0.50%

    $9,979

$10,000
30 years

Cost over time

  • ENOR 0.53%
  • EWC 0.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530ENOR $10,536EWC $9,979

Year by year

YearENOREWCOverpaying
10$953$900$53
20$3,658$3,460$198
30$10,536$9,979$557

Expense ratio

  • 0.53%ENOR
  • 0.50%EWC, cheaper
  • Middle half of Developed Single Country funds
  • Median 0.50%

EWC 14th cheapest of 38 funds

ENOR 26th cheapest of 38 funds

ENOR vs EWC Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ENOR 4.89%, better
EWC 1.24%
Payout (12M)
ENOR $1.84
EWC $0.75
Last payment
ENOR $1.56
EWC $0.28
Ex-dividend
ENOR Jun 15, 2026
EWC Jun 15, 2026
Paid on
ENOR Jun 18, 2026
EWC Jun 18, 2026
Frequency
ENOR Twice a year
EWC Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

ENORTwice a year · 19 paymentsAll ENOR payments⁠
One bar per payment. 19 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.45; Dec 19, 2017 $0.19; Jun 19, 2018 $0.50; Dec 18, 2018 $0.14; Jun 17, 2019 $0.66; Dec 16, 2019 $0.13; Jun 15, 2020 $0.29; Dec 14, 2020 $0.31; Jun 10, 2021 $0.41; Dec 13, 2021 $0.24; Jun 9, 2022 $0.69; Dec 13, 2022 $0.30; Jun 7, 2023 $0.82; Dec 20, 2023 $0.42; Jun 11, 2024 $0.88; Dec 17, 2024 $0.54; Jun 16, 2025 $0.57; Dec 16, 2025 $0.28; Jun 15, 2026 $1.56. Use the arrow keys to read each point.$0$12017202020232026YTD
EWCTwice a year · 19 paymentsAll EWC payments⁠
One bar per payment. 19 payments from 2017 to 2026 YTD. Jun 20, 2017 $0.22; Dec 19, 2017 $0.37; Jun 19, 2018 $0.22; Dec 18, 2018 $0.41; Jun 17, 2019 $0.25; Dec 16, 2019 $0.39; Jun 15, 2020 $0.26; Dec 14, 2020 $0.39; Jun 10, 2021 $0.23; Dec 13, 2021 $0.48; Jun 9, 2022 $0.28; Dec 13, 2022 $0.49; Jun 7, 2023 $0.35; Dec 20, 2023 $0.49; Jun 11, 2024 $0.35; Dec 17, 2024 $0.55; Jun 16, 2025 $0.31; Dec 16, 2025 $0.47; Jun 15, 2026 $0.28. Use the arrow keys to read each point.$0$12017202020232026YTD

ENOR vs EWC Risk

Fall from peak · 5 years

  • ENOR
  • EWC
Oct 29, 2021 to Oct 30, 2026. Worst fall: ENOR −32.6% · Sep 2022. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
ENOR 18.5%EWC 13.1%, better
Return per unit of riskSharpe ratio, 3 years
ENOR 1.07EWC 1.54, better
Worst fallMax drawdown, 5 years
ENOR −32.6%EWC −24.8%, better
Market sensitivityBeta, 5 years
ENOR 0.50EWC 0.88

ENOR and EWC in the news

All news⁠

Popular comparisons

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