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 01/21/21

Key Facts

Ticker NORW
Inception Date 11/09/10
CUSIP 37950E747
ISIN US37950E7470
Bloomberg Index Ticker M1NO5IM
Primary Exchange NYSE Arca
Number of Holdings 57

Stats & Fees

Net Assets $41,321,517
Net Asset Value (NAV) $13.33
Shares Outstanding 3,100,000
Total Expense Ratio 0.50%

Distributions

30-Day SEC Yield 1.78%
Distribution Frequency Semi-Annually

Fund Prices As of 01/21/21

NAV $13.33 Daily Change $0.15 1.11%
Market Price $13.32 Daily Change $0.16 1.22%
30-Day Median Bid-Ask Spread 0.63%

Performance History

Cumulative %

Data as of month-end (12/31/20)

Fund NAV Market Price Index
Year-to-Date 3.50% 2.78% 3.85%
1 Month 8.03% 8.40% 8.11%
3 Months 24.12% 23.14% 24.42%
6 Months 36.67% 33.79% 37.10%
Since Inception 21.40% 20.04% 28.47%

Avg Annualized %

Data as of month-end (12/31/20)

Fund NAV Market Price Index
1 Year 3.50% 2.78% 3.85%
3 Years 2.29% 2.05% 2.63%
5 Years 8.97% 8.79% 9.27%
10 Years 1.38% 1.18% 2.14%
Since Inception 1.93% 1.82% 2.50%

Avg Annualized %

Data as of quarter-end (12/31/20)

Fund NAV Market Price Index
1 Year 3.50% 2.78% 3.85%
3 Years 2.29% 2.05% 2.63%
5 Years 8.97% 8.79% 9.27%
10 Years 1.38% 1.18% 2.14%
Since Inception 1.93% 1.82% 2.50%

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.

Fund Characteristics As of 01/21/21

Return on Equity 2.50%
Weighted Avg. Market Cap 15,627 M
2019 2020
Price-to-earnings 18.28 25.49
Price-to-book value 0.64 0.64

Source: AltaVista Research, LLC

Fund Risk Stats As of 01/21/21

Versus Beta
S&P 500 1.26
MSCI EAFE 1.38
MSCI Emg. Mkts 1.07
Standard Deviation 27.60%

Source: AltaVista Research, LLC

Sector Breakdown As of 12/31/20

% of Net Assets
Financials 23.0
Consumer Staples 17.9
Energy 15.0
Communication Services 14.3
Materials 10.4
Industrials 9.8
Utilities 3.5
Information Technology 2.7
Real Estate 2.5
Consumer Discretionary 1.1

Source: AltaVista Research, LLC

Top 10 Holdings As of 01/22/21

Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
11.71 DNB NO DNB ASA 4263304 19.88 231,462 4,602,388.20
11.66 EQNR NO EQUINOR ASA 7133608 19.18 238,808 4,579,871.75
7.43 TEL NO TELENOR ASA 4732495 17.05 171,269 2,920,880.73
6.09 MOWI NO MOWI ASA B02L486 22.17 107,998 2,393,941.05
4.61 YAR NO YARA INTERNATIONAL ASA 7751259 45.60 39,732 1,811,928.42
4.00 ORK NO ORKLA ASA B1VQF42 9.88 159,059 1,570,883.77
3.87 NHY NO NORSK HYDRO ASA B11HK39 4.63 327,690 1,518,679.08
3.42 TOM NO TOMRA SYSTEMS ASA 4730875 49.44 27,141 1,341,833.82
3.14 NEL NO NEL ASA B02NR83 3.92 315,150 1,235,489.75
3.10 GJF NO GJENSIDIGE FORSIKRING ASA B4PH0C5 24.47 49,837 1,219,641.15
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.