NORW


MSCI Norway ETF

Fund Summary

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

Fund 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.

Why NORW?

Efficient Access

Efficient access to a broad basket of Norwegian securities.

Targeted Exposure

The fund targets exposure to a single country.

Fund Details As of 04/15/21

Key Facts

Ticker NORW
Inception Date 11/09/10
CUSIP 37950E747
ISIN US37950E7470
Bloomberg Index Ticker M1NO5IM
Primary Exchange NYSE Arca
Number of Holdings 56

Stats & Fees

Net Assets $45,038,151
Net Asset Value (NAV) $14.30
Shares Outstanding 3,150,000
Total Expense Ratio 0.50%

Distributions

30-Day SEC Yield 1.69%
Distribution Frequency Semi-Annually

Fund Prices As of 04/15/21

NAV $14.30 Daily Change $0.11 0.77%
Market Price $14.30 Daily Change $0.15 1.06%
30-Day Median Bid-Ask Spread 0.50%

Performance History

As of recent month & quarter-end (03/31/21)
As of recent month & quarter-end (03/31/21)
Fund NAV Market Price Index
1 Year 80.22% 79.84% 81.06%
3 Years 4.39% 3.75% 4.73%
5 Years 10.25% 10.26% 10.51%
10 Years 1.59% 1.51% 2.21%
Since Inception 2.76% 2.74% 3.33%
1 Year 80.22% 79.84% 81.06%
3 Years 4.39% 3.75% 4.73%
5 Years 10.25% 10.26% 10.51%
10 Years 1.59% 1.51% 2.21%
Since Inception 2.76% 2.74% 3.33%
Year-to-Date 9.29% 10.36% 9.39%
1 Month 6.12% 6.37% 6.16%
3 Months 9.29% 10.36% 9.39%
Since Inception 32.68% 32.48% 40.53%
Year-to-Date 9.29% 10.36% 9.39%
1 Month 6.12% 6.37% 6.16%
3 Months 9.29% 10.36% 9.39%
Since Inception 32.68% 32.48% 40.53%

The Fund's name, investment objective and investment strategies changed effective July 15, 2014. Fund performance prior to July 15, 2014, will reflect the investment objective and strategies of the Fund when it was the Global X FTSE Norway 30 ETF. The Hybrid Norway Index (noted as "Index" above in the chart) 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.

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 of the Fund, when observed, is unusual and investors should not expect such performance to be repeated.

Fund Characteristics As of 04/15/21

Return on Equity 4.00%
Weighted Avg. Market Cap 17,531 M
2020 2021
Price-to-earnings 27.62 17.35
Price-to-book value 0.71 0.69

Source: AltaVista Research, LLC

Fund Risk Stats As of 04/15/21

Versus Beta
S&P 500 1.30
MSCI EAFE 1.42
MSCI Emg. Mkts 1.09
Standard Deviation 27.70%

Source: AltaVista Research, LLC

Sector Breakdown As of 03/31/21

% of Net Assets
Financials 23.3
Consumer Staples 18.1
Energy 14.9
Communication Services 13.3
Materials 12.7
Industrials 8.7
Information Technology 3.3
Utilities 2.6
Real Estate 2.3
Consumer Discretionary 1.0

Source: AltaVista Research, LLC

Top Holdings As of 04/16/21

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
11.65 DNB NO DNB ASA 4263304 22.25 239,204 5,323,196.43
10.87 EQNR NO EQUINOR ASA 7133608 19.76 251,328 4,967,089.35
7.24 TEL NO TELENOR ASA 4732495 18.37 180,061 3,308,387.90
6.03 MOWI NO MOWI ASA B02L486 24.36 113,148 2,755,720.68
5.19 YAR NO YARA INTERNATIONAL ASA 7751259 52.78 44,887 2,369,186.46
5.14 NHY NO NORSK HYDRO ASA B11HK39 6.77 346,409 2,346,586.92
4.15 ORK NO ORKLA ASA B1VQF42 9.80 193,522 1,895,919.98
3.10 TOM NO TOMRA SYSTEMS ASA 4730875 49.72 28,491 1,416,709.63
2.64 STB NO STOREBRAND ASA 4852832 10.07 119,755 1,205,828.09
2.63 GJF NO GJENSIDIGE FORSIKRING ASA B4PH0C5 23.50 51,205 1,203,083.06
2.45 NEL NO NEL ASA B02NR83 3.11 360,381 1,121,229.31
2.44 SCHB NO SCHIBSTED ASA-B SHS BWVFKQ3 44.41 25,086 1,114,121.37
2.43 ADE NO ADEVINTA ASA BJ0DP40 18.04 61,572 1,110,723.27
2.25 ENTRA NO ENTRA ASA BRJ2VC4 23.20 44,287 1,027,323.47
2.20 SCATC NO Scatec ASA BQSSWW3 33.12 30,394 1,006,589.65
2.16 BAKKA NO BAKKAFROST P/F B6632T7 76.84 12,867 988,670.29
2.15 SALM NO SALMAR ASA B1W5NW2 67.72 14,501 981,956.66
2.15 SCHA NO SCHIBSTED ASA-CL A 4790534 50.70 19,348 981,016.89
1.80 NOD NO NORDIC SEMICONDUCTOR ASA B00ZG06 20.83 39,555 824,052.66
1.46 LSG NO LEROY SEAFOOD GROUP ASA 4691916 8.78 76,202 668,851.98
1.31 SUBC NO SUBSEA 7 SA 5258246 10.41 57,554 599,170.11
1.30 SRBANK NO SPAREBANK 1 SR BANK ASA B40JTQ3 13.00 45,783 595,237.49
1.27 KOG NO KONGSBERG GRUPPEN ASA 5208241 24.86 23,366 580,795.50
1.17 BRG NO BORREGAARD ASA B8B6WX9 22.02 24,286 534,656.75
1.17 AKER NO AKER ASA-A SHARES B02R4D9 80.11 6,652 532,884.28
0.98 MING NO SPAREBANK 1 SMN B0LGG75 13.49 33,178 447,596.61
0.98 TGS NO TGS NOPEC GEOPHY B15SLC4 14.92 29,991 447,568.08
0.92 VEI NO VEIDEKKE ASA B1XCHJ7 15.28 27,582 421,496.40
0.87 ATEA NO ATEA ASA B12TR11 18.82 21,099 396,986.95
0.85 NOFI NO NORWEGIAN FINANS BNH7Q17 11.56 33,376 385,915.35
0.64 AUSS NO AUSTEVOLL SEAFOOD ASA B16MKT5 12.45 23,283 289,922.15
0.62 EPR NO EUROPRIS ASA BZ07696 6.65 42,599 283,277.93
0.62 ELK NO ELKEM ASA BG0T3J8 4.23 66,725 282,478.54
0.59 SBANK NO SBANKEN ASA BYNZ5N7 12.73 21,238 270,289.37
0.53 NONG NO SPAREBANK 1 NORD-NORGE B06T259 10.02 24,317 243,573.54
0.47 PROTCT NO PROTECTOR FORSIKRING ASA B182K93 11.50 18,637 214,269.54
0.44 FKRAFT NO FJORDKRAFT HOLDING ASA BG0SKQ1 8.11 24,745 200,592.82
0.41 PEXIP NO PEXIP HOLDING ASA BM8R3B8 10.36 18,130 187,769.67
0.40 GOGLO QX GOLDEN OCEAN GROUP LTD BDCHQL2 7.62 23,683 180,532.65
0.39 FRO NO FRONTLINE LTD BDDJSX3 6.99 25,170 175,851.34
0.34 HEX NO HEXAGON COMPOSITES ASA 5186002 5.44 28,233 153,567.35
0.33 CRAYON NO CRAYON GROUP HOLDING AS BD9PZ12 16.25 9,301 151,128.34
0.32 BON NO BONHEUR ASA B1662B3 26.74 5,407 144,598.08
0.31 DNO NO DNO ASA B15GGN4 1.14 123,820 141,587.13
0.31 SPOL NO SPAREBANK 1 OESTLANDET BZ12WQ9 13.61 10,296 140,130.13
0.29 BWLPG NO BW LPG LTD BGLPC98 6.69 19,826 132,550.47
0.27 GSF NO GRIEG SEAFOOD ASA B1Y1P66 9.68 12,761 123,555.96
0.22 BWO NO BW OFFSHORE LTD BYYNFR4 4.08 24,830 101,204.16
0.22 SNI NO STOLT-NIELSEN LTD B4PKZG3 15.54 6,491 100,897.58
0.21 FLNG NO FLEX LNG LTD BJJMGB2 11.41 8,353 95,336.35
0.20 WALWIL NO WALLENIUS WILHELMSEN ASA B55WMQ5 3.33 27,027 90,088.92
0.18 NRS NO NORWAY ROYAL SALMON ASA B3MVZM8 23.76 3,535 83,984.79
0.18 XXL NO XXL ASA BQZHXB9 2.39 35,085 83,941.62
0.18 SBO NO SELVAAG BOLIG ASA B4V6DD8 7.81 10,644 83,107.60
0.15 CASH 1.25 55,440 69,124.29
0.12 HAFNIA NO HAFNIA LTD BJK0P85 2.12 26,604 56,281.91
0.12 OCY NO OCEAN YIELD ASA BBH7MR1 3.42 15,378 52,544.54
Holdings are subject to change.


Investing involves risk, including the possible loss of principal. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Securities focusing on a single country may be subject to higher volatility. NORW is non-diversified.

Shares of ETFs are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Beginning October 15, 2020, market price returns are based on the official closing price of an ETF share or, if the official closing price isn’t available, the midpoint between the national best bid and national best offer (“NBBO”) as of the time the ETF calculates current NAV per share. Prior to October 15, 2020, market price returns were based on the midpoint between the Bid and Ask price. NAVs are calculated using prices as of 4:00 PM Eastern Time. The returns shown do not represent the returns you would receive if you traded shares at other times. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

Carefully consider the Fund’s investment objectives, risks, and charges and expenses before investing. This and other information can be found in the Fund’s summary or full prospectuses. Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC or Mirae Asset Global Investments. Global X Funds are not sponsored, endorsed, issued, sold or promoted by MSCI, nor does MSCI make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO, Global X nor Mirae Asset Global Investments are affiliated with MSCI.