NORW

MSCI Norway ETF

Reasons to Consider NORW

Global RTC Icon

Growth Potential

Norway's energy resources and political stability position it for long-term growth as geopolitical tensions disrupt global oil and gas supplies, making Norway a reliable and attractive energy provider.

Global RTC Icon

Targeted Exposure

The ETF targets exposure to Norway.

Global RTC Icon

Efficient Access

NORW delivers efficient access to a broad basket of Norwegian securities.

Key Information

As of Oct 03 2025
Inception Date
11/09/10
Total Expense Ratio
0.50%
Net Assets
$56.91 million
NAV
$30.33
Fact Sheet

ETF Summary

The Global X MSCI Norway ETF (NORW) invests in among the largest and most liquid Norwegian securities.

ETF Objective

The Global X MSCI Norway ETF (NORW) seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Norway IMI 25/50 Index.
Trading Details
Distributions

ETF Prices

As of Oct 03 2025
NAV$30.33Daily Change$0.331.10%
Market Price$30.31Daily Change$0.130.43%

Performance History

As of recent month & quarter-end (Sep 30 2025)

Fund NAVMarket PriceIndex
1 Year21.35%22.68%22.07%
3 Years16.74%17.14%17.22%
5 Years11.24%11.51%11.74%
10 Years7.62%7.72%8.00%
Since Inception3.49%3.55%4.02%

Performance for periods prior to November 1, 2021 reflects the historical performance of the Global X MSCI Norway ETF, CUSIP 37950E747, the predecessor fund. Effective as of the close of business on October 29, 2021, the predecessor fund was reorganized into the Fund. The Index above consists of the FTSE Norway 30 Index from the inception of the Fund through July 14, 2014, and the MSCI Norway IMI 25/50 Index going forward.

Performance is shown on a total return basis (i.e., with gross income reinvested, where applicable). Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized return is the average return gained or lost by an investment each year over a given time period.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted. High short-term performance, when observed, is unusual and investors should not expect such performance to be repeated.

Top Holdings

As of Oct 03 2025
Net Assets (%)TickerNameSEDOLMarket Price ($)Shares HeldMarket Value ($)
12.77DNB NODNB BANK ASABNG711327.13267,7947,265,587.77
10.79EQNR NOEQUINOR ASA713360824.90246,5516,138,826.72
7.86KOG NOKONGSBERG GRUPPEN ASABSTRB8233.69132,7524,472,124.09
5.41TEL NOTELENOR ASA473249516.58185,7773,080,637.28
5.32MOWI NOMOWI ASAB02L48621.56140,3893,026,814.65
4.73NHY NONORSK HYDRO ASAB11HK396.98385,6352,690,535.36
4.32AKRBP NOAKER BP ASAB1L95G325.7795,2782,455,665.48
3.84ORK NOORKLA ASAB1VQF4210.35211,3722,187,211.58
3.39STB NOSTOREBRAND ASA485283215.21126,9481,931,491.30
3.24YAR NOYARA INTERNATIONAL ASA775125937.0049,8911,845,780.11

Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure

As of Sep 30 2025
SectorWeight (%)
Financials26.2
Energy23.0
Consumer Staples13.9
Industrials13.7
Materials8.7
Communication Services8.6
Information Technology4.1
Consumer Discretionary0.9
Utilities0.7
Real Estate0.4

Source: AltaVista Research, LLC

All Sector, Industry and Geographic breakdowns, where provided, are based on equity positions held by the ETF and exclude cash, currencies, and other holdings.

ETF Characteristics

ETF Risk Stats

As of Sep 30 2025
VERSUSBETA
S&P 5000.57
NASDAQ-1000.19
MSCI EAFE0.64
MSCI Emg. Mkts0.40
Standard Deviation17.50%

ETF Documents

Prospectus & Regulatory Information

* The financial statements include the Fund’s disclosures required by Items 7 through 11 of Form N-CSR, which includes the financial statements, financial highlights, and other important information when applicable.

** The financial statements include the Fund’s disclosures required by Items 7 through 11 of Form N-CSR, which includes the financial statements, financial highlights, and other important information when applicable.