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 07/23/21

Key Facts

Ticker NORW
Inception Date 11/09/10
CUSIP 37950E747
ISIN US37950E7470
Bloomberg Index Ticker M1NO5IM
Primary Exchange NYSE Arca
Number of Holdings 70

Stats & Fees

Net Assets $45,333,310
Net Asset Value (NAV) $13.95
Shares Outstanding 3,250,000
Total Expense Ratio 0.50%

Distributions

30-Day SEC Yield 1.95%
Distribution Frequency Semi-Annually

Fund Prices As of 07/23/21

NAV $13.95 Daily Change -$0.10 -0.72%
Market Price $13.96 Daily Change -$0.01 -0.08%
30-Day Median Bid-Ask Spread 0.50%

Performance History

As of recent month & quarter-end (06/30/21)
As of recent month & quarter-end (06/30/21)
Fund NAV Market Price Index
1 Year 55.39% 53.71% 56.14%
3 Years 3.73% 3.91% 4.07%
5 Years 10.41% 10.13% 10.71%
10 Years 2.44% 2.36% 2.92%
Since Inception 3.08% 3.07% 3.64%
1 Year 55.39% 53.71% 56.14%
3 Years 3.73% 3.91% 4.07%
5 Years 10.41% 10.13% 10.71%
10 Years 2.44% 2.36% 2.92%
Since Inception 3.08% 3.07% 3.64%
Year-to-Date 13.69% 14.89% 13.89%
1 Month -2.64% -2.90% -2.52%
3 Months 4.03% 4.11% 4.12%
Since Inception 38.03% 37.92% 46.32%
Year-to-Date 13.69% 14.89% 13.89%
1 Month -2.64% -2.90% -2.52%
3 Months 4.03% 4.11% 4.12%
Since Inception 38.03% 37.92% 46.32%

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 07/23/21

Return on Equity 4.40%
Weighted Avg. Market Cap 18,256 M
2020 2021
Price-to-earnings 29.25 15.64
Price-to-book value 0.70 0.68

Source: AltaVista Research, LLC

Fund Risk Stats As of 07/23/21

Versus Beta
S&P 500 1.30
MSCI EAFE 1.43
MSCI Emg. Mkts 1.13
Standard Deviation 27.90%

Source: AltaVista Research, LLC

Sector Breakdown As of 06/30/21

% of Net Assets
Financials 22.4
Consumer Staples 18.0
Energy 14.8
Communication Services 13.7
Materials 11.6
Industrials 10.2
Information Technology 4.6
Utilities 2.1
Real Estate 1.7
Consumer Discretionary 0.9
Health Care 0.2

Source: AltaVista Research, LLC

Top Holdings As of 07/23/21

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
10.70 EQNR NO EQUINOR ASA 7133608 19.42 249,817 4,850,400.73
10.33 DNB NO DNB BANK ASA BNG7113 19.69 237,896 4,684,256.72
6.92 TEL NO TELENOR ASA 4732495 17.34 180,827 3,136,334.00
6.42 MOWI NO MOWI ASA B02L486 25.52 113,955 2,907,983.48
5.31 YAR NO YARA INTERNATIONAL ASA 7751259 52.96 45,449 2,407,044.01
4.45 NHY NO NORSK HYDRO ASA B11HK39 6.32 319,250 2,017,314.01
3.98 ORK NO ORKLA ASA B1VQF42 9.16 197,130 1,805,036.16
3.70 TOM NO TOMRA SYSTEMS ASA 4730875 57.52 29,124 1,675,164.14
2.83 NOD NO NORDIC SEMICONDUCTOR ASA B00ZG06 31.77 40,401 1,283,725.91
2.79 ADE NO ADEVINTA ASA BJ0DP40 20.16 62,843 1,266,745.07
2.63 SCHB NO SCHIBSTED ASA-B SHS BWVFKQ3 46.42 25,681 1,192,220.69
2.63 GJF NO GJENSIDIGE FORSIKRING ASA B4PH0C5 22.71 52,419 1,190,214.93
2.54 BAKKA NO BAKKAFROST P/F B6632T7 87.29 13,173 1,149,873.24
2.32 SCHA NO SCHIBSTED ASA-CL A 4790534 53.20 19,801 1,053,367.93
2.30 STB NO STOREBRAND ASA 4852832 8.50 122,596 1,042,554.31
2.18 SALM NO SALMAR ASA B1W5NW2 66.59 14,838 988,020.21
1.72 ENTRA NO ENTRA ASA BRJ2VC4 23.20 33,549 778,365.79
1.63 NEL NO NEL ASA B02NR83 2.01 368,248 739,802.43
1.55 LSG NO LEROY SEAFOOD GROUP ASA 4691916 9.05 77,839 704,681.35
1.53 SCATC NO Scatec ASA BQSSWW3 22.31 31,082 693,326.26
1.45 KOG NO KONGSBERG GRUPPEN ASA 5208241 27.99 23,513 658,224.31
1.38 BRG NO BORREGAARD ASA B8B6WX9 24.98 25,066 626,114.14
1.34 SRBNK NO SPAREBANK 1 SR BANK ASA B40JTQ3 13.00 46,754 607,597.89
1.17 SUBC NO SUBSEA 7 SA 5258246 9.00 58,730 528,382.33
1.08 AKER NO AKER ASA-A SHARES B02R4D9 71.00 6,862 487,186.87
1.04 MING NO SPAREBANK 1 SMN B0LGG75 13.73 34,238 469,984.70
0.92 ATEA NO ATEA ASA B12TR11 19.17 21,779 417,563.98
0.88 BANO BANK NORWEGIAN ASA BM8H6J7 11.59 34,446 399,200.91
0.80 VEI NO VEIDEKKE ASA B1XCHJ7 12.76 28,462 363,156.62
0.77 TGS NO TGS ASA B15SLC4 11.25 30,951 348,249.25
0.71 GOGLO QX GOLDEN OCEAN GROUP LTD BDCHQL2 9.52 33,854 322,442.63
0.68 EPR NO EUROPRIS ASA BZ07696 6.98 43,969 306,728.25
0.67 AUSS NO AUSTEVOLL SEAFOOD ASA B16MKT5 12.67 24,033 304,482.18
0.56 ELK NO ELKEM ASA BG0T3J8 3.68 68,865 253,373.86
0.55 SBANK NO SBANKEN ASA BYNZ5N7 12.11 20,760 251,336.24
0.52 NONG NO SPAREBANK 1 NORD-NORGE B06T259 9.46 25,097 237,483.43
0.46 FRO NO FRONTLINE LTD BDDJSX3 7.99 25,980 207,486.88
0.45 CRAYN NO CRAYON GROUP HOLDING AS BD9PZ12 16.03 12,640 202,664.39
0.43 PROT NO PROTECTOR FORSIKRING ASA B182K93 10.24 19,237 196,967.35
0.39 BONHR NO BONHEUR ASA B1662B3 31.50 5,577 175,700.98
0.34 KAHOT NO KAHOOT! ASA BZ17B89 4.72 32,239 152,061.17
0.33 PEXIP NO PEXIP HOLDING ASA BM8R3B8 8.02 18,710 149,994.09
0.32 FKRFT NO FJORDKRAFT HOLDING ASA BG0SKQ1 5.75 25,545 146,873.12
0.31 SPOL NO SPAREBANK 1 OESTLANDET BZ12WQ9 13.39 10,626 142,276.21
0.28 GSF NO GRIEG SEAFOOD ASA B1Y1P66 9.69 13,171 127,670.20
0.27 DNO NO DNO ASA B15GGN4 0.96 127,810 123,328.97
0.27 BWLPG NO BW LPG LTD BGLPC98 5.95 20,466 121,815.95
0.25 HEX NO HEXAGON COMPOSITES ASA 5186002 3.83 29,143 111,684.88
0.23 FLNG NO FLEX LNG LTD BJJMGB2 13.37 7,913 105,772.58
0.20 SNI NO STOLT-NIELSEN LTD B4PKZG3 13.73 6,701 91,984.56
0.19 WAWI NO WALLENIUS WILHELMSEN ASA B55WMQ5 3.09 27,897 86,067.75
0.17 XXL NO XXL ASA BQZHXB9 2.18 36,225 78,991.01
0.17 NRS NO NORWAY ROYAL SALMON ASA B3MVZM8 24.19 3,251 78,644.97
0.17 BWO NO BW OFFSHORE LTD BYYNFR4 3.33 23,295 77,688.44
0.16 SBO NO SELVAAG BOLIG ASA B4V6DD8 6.57 10,994 72,241.05
0.13 VACC NO VACCIBODY AS BL1GQG1 7.01 8,059 56,491.71
0.12 ACC NO AKER CARBON CAPTURE ASA BMPRVC8 2.08 25,839 53,785.22
0.12 OCY NO OCEAN YIELD ASA BBH7MR1 3.31 15,878 52,488.37
0.11 AKSO NO AKER SOLUTIONS ASA BQN1C50 1.81 27,886 50,358.96
0.11 HAFNI NO HAFNIA LTD BJK0P85 1.78 27,514 48,913.23
0.11 BWE NO BW ENERGY LTD BKM1QH9 2.91 16,743 48,697.80
0.11 RECSI NO REC SILICON ASA B01VHW2 1.82 26,301 47,762.97
0.10 VOLUE NO VOLUE ASA BLPJR07 5.04 9,361 47,133.62
0.10 1824459D NO HEXAGON PURUS LLC BN7FJV2 3.84 12,245 47,009.25
0.10 AKH NO AKER HORIZONS ASA BMG4FY8 2.78 16,595 46,064.03
0.10 ASA NO ATLANTIC SAPPHIRE ASA BDFG5D1 8.60 5,200 44,700.48
0.09 QFUEL NO QUANTAFUEL AS BFZNKQ4 3.57 11,768 42,000.20
0.09 LINK NO LINK MOBILITY GR BM99YX2 3.69 11,334 41,828.53
0.09 CASH -3.29 -11,806 38,846.07
0.08 MWTR NO MELTWATER HOLDING BV BNDJT07 4.55 8,156 37,074.40
0.07 AKBM NO AKER BIOMARINE ASA BMGNX52 6.03 5,356 32,301.36
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.