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NORW

MSCI Norway ETF

 

Reasons to Consider NORW

Growth Potential

Norway's energy wealth 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.

Targeted Exposure

The ETF targets exposure to a single country.

Efficient Access

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

Key Information As of 12/04/24

Inception Date 11/09/10
Total Expense Ratio 0.51%
Net Assets $49.71 million
NAV $25.54
Fact Sheet View the document

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 As of 12/03/24

Ticker NORW
Bloomberg Index Ticker M1NO5IM
CUSIP 37950E101
ISIN US37950E1010
Primary Exchange NYSE Arca
Shares Outstanding 1,946,111
Number of Holdings 62
30-Day Median Bid-Ask Spread 0.68%

Distributions As of 12/04/24

30-Day SEC Yield 1.11%
Distribution Frequency Semi-Annually

ETF Prices As of 12/04/24

NAV $25.54 Daily Change $0.11 0.43%
Market Price $25.50 Daily Change $0.03 0.12%

Performance History

As of recent
(09/30/24)
As of recent
(09/30/24)
Fund NAV Market Price Index
1 Year 10.07% 10.39% 10.68%
3 Years -0.86% -0.82% -0.51%
5 Years 4.88% 4.94% 5.26%
10 Years 1.33% 1.33% 1.63%
Since Inception 2.31% 2.29% 2.83%
1 Year 8.36% 9.54% 8.97%
3 Years -0.74% -0.61% -0.38%
5 Years 4.25% 4.43% 4.63%
10 Years 2.98% 2.99% 3.30%
Since Inception 2.09% 2.13% 2.60%
Year-to-Date 4.61% 4.43% 5.05%
1 Month -0.92% -1.11% -0.89%
3 Months 0.31% 0.43% 0.38%
Since Inception 37.33% 37.01% 47.34%
Year-to-Date 1.86% 2.53% 2.36%
1 Month 0.68% 0.80% 0.69%
3 Months -3.52% -2.92% -3.43%
Since Inception 33.72% 34.51% 43.57%

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 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.

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 12/04/24

Full Holdings (.csv)
Net Assets (%) Ticker Name SEDOL Market Price ($) Shares Held Market Value ($)
12.64 EQNR NO EQUINOR ASA 7133608 24.19 259,834 6,285,585.29
11.79 DNB NO DNB BANK ASA BNG7113 21.10 277,723 5,860,620.85
6.71 KOG NO KONGSBERG GRUPPEN ASA 5208241 122.27 27,279 3,335,324.32
5.54 NHY NO NORSK HYDRO ASA B11HK39 6.31 436,133 2,752,345.49
5.34 MOWI NO MOWI ASA B02L486 18.39 144,332 2,653,594.29
4.18 TEL NO TELENOR ASA 4732495 11.52 180,163 2,075,527.89
4.12 AKRBP NO AKER BP ASA B1L95G3 20.89 98,003 2,047,683.45
4.06 ORK NO ORKLA ASA B1VQF42 9.28 217,398 2,018,158.48
3.02 YAR NO YARA INTERNATIONAL ASA 7751259 29.27 51,348 1,503,040.70
2.98 STB NO STOREBRAND ASA 4852832 11.24 131,981 1,483,402.66
2.29 SUBC NO SUBSEA 7 SA 5258246 16.20 70,306 1,139,143.89
2.29 GJF NO GJENSIDIGE FORSIKRING ASA B4PH0C5 18.31 62,042 1,136,168.64
2.18 SALM NO SALMAR ASA B1W5NW2 52.85 20,480 1,082,297.53
1.95 TOM NO TOMRA SYSTEMS ASA BPLXRG7 14.07 68,876 969,381.64
1.87 SCHB NO SCHIBSTED ASA-B SHS BWVFKQ3 32.89 28,186 927,160.98
1.86 BAKKA NO BAKKAFROST P/F B6632T7 59.19 15,637 925,496.72
1.71 SB1NO NO SPAREBANK 1 SOR-NORGE ASA B40JTQ3 13.26 64,059 849,370.33
1.61 SCHA NO SCHIBSTED ASA-CL A 4790534 35.25 22,683 799,556.54
1.48 FRO NO FRONTLINE PLC BMHDM54 16.34 44,889 733,419.28
1.22 MING NO SPAREBANK 1 SMN B0LGG75 15.06 40,263 606,202.21
1.22 TGS NO TGS ASA B15SLC4 9.92 60,886 603,819.90
1.05 NOD NO NORDIC SEMICONDUCTOR ASA B00ZG06 9.15 56,813 519,690.71
0.89 PROT NO PROTECTOR FORSIKRING ASA B182K93 26.72 16,511 441,134.73
0.84 HAUTO NO HOEGH AUTOLINERS ASA BMFDP24 11.80 35,507 419,019.52
0.81 CADLR NO CADELER A/S BMYDHR4 6.23 64,836 403,999.20
0.80 GOGL NO GOLDEN OCEAN GROUP LTD BDCHQL2 9.84 40,333 396,886.31
0.79 BNOR NO BLUENORD ASA B23D2M5 53.16 7,337 390,060.95
0.78 LSG NO LEROY SEAFOOD GROUP ASA 4691916 4.68 82,548 386,147.06
0.77 AUTO NO AUTOSTORE HOLDINGS LTD BN49G27 1.15 334,837 384,225.26
0.75 AKER NO AKER ASA-A SHARES B02R4D9 53.53 6,917 370,238.10
0.69 DOFG NO DOF GROUP ASA BQWSKZ8 7.54 45,498 343,252.07
0.64 NONG NO SPAREBANK 1 NORD-NORGE B06T259 10.85 29,367 318,740.49
0.63 WAWI NO WALLENIUS WILHELMSEN ASA B55WMQ5 9.74 32,374 315,195.99
0.63 ATEA NO ATEA ASA B12TR11 12.84 24,222 311,072.83
0.62 BWLPG NO BW LPG LTD BT5GCN2 11.88 25,864 307,330.30
0.61 EPR NO EUROPRIS ASA BZ07696 6.26 48,464 303,519.99
0.58 CRAYN NO CRAYON GROUP HOLDING AS BD9PZ12 11.67 24,822 289,553.28
0.55 SCATC NO Scatec ASA BQSSWW3 7.45 36,396 271,287.23
0.53 AKSO NO AKER SOLUTIONS ASA BQN1C50 3.14 83,346 261,932.93
0.52 AUSS NO AUSTEVOLL SEAFOOD ASA B16MKT5 9.23 28,088 259,221.40
0.50 BORR NO BORR DRILLING LTD BPK3P64 3.61 68,685 248,080.66
0.50 ENTRA NO ENTRA ASA BRJ2VC4 11.14 22,249 247,851.45
0.47 MPCC NO MPC CONTAINER SHIPS AS BF20GN7 2.04 115,155 234,556.85
0.47 FLNG NO FLEX LNG LTD BJJMGB2 23.84 9,836 234,466.21
0.44 NAS NO NORWEGIAN AIR SHUTTLE AS 7742123 1.00 220,627 220,399.21
0.40 SPOL NO SPAREBANK 1 OESTLANDET BZ12WQ9 13.73 14,561 199,898.24
0.36 SNI NO STOLT-NIELSEN LTD B4PKZG3 25.27 7,144 180,518.41
0.33 KIT NO KITRON ASA 5399684 2.95 55,449 163,614.07
0.30 ELK NO ELKEM ASA BG0T3J8 1.70 88,598 150,212.34
0.29 ODL NO ODFJELL DRILLING LTD BDX87W2 4.82 29,535 142,306.41
0.28 NEL NO NEL ASA B02NR83 0.27 509,284 139,666.34
0.28 CASH 1.00 137,314 137,313.83
0.27 HEX NO HEXAGON COMPOSITES ASA 5186002 4.06 33,032 134,175.48
0.26 NORCO NO NORCONSULT AS BMTQPF2 3.82 33,461 127,735.72
0.25 DNO NO DNO ASA B15GGN4 0.94 132,867 125,389.37
0.24 WWI NO WILH WILHELMSEN HOLDING-A B682WX6 37.86 3,205 121,333.35
0.17 GSF NO GRIEG SEAFOOD ASA B1Y1P66 5.52 15,719 86,699.79
0.16 PLSV NO PARATUS ENERGY SERVICES L BLCCJ92 4.07 19,386 78,868.54
0.13 BWO NO BW OFFSHORE LTD BYYNFR4 2.54 25,627 65,219.87
0.13 ODF NO ODFJELL SE-A SHS B086463 10.07 6,337 63,821.11
0.13 AGAS NO AVANCE GAS HOLDING LTD BFH4P48 10.49 5,960 62,507.29
0.12 CLCO NO COOL CO LTD BPBKK81 7.82 7,441 58,192.83
0.11 BELCO NO BELSHIPS ASA 4109174 1.62 33,954 54,922.24
0.00 SWEDISH KRONE 0.09 4 0.40
-0.02 NORWEGIAN KRONE 0.09 -99,187 -8,983.17
-0.07 OTHER PAYABLE & RECEIVABLES 1.00 -36,227 -36,227.12
Holdings are subject to change. "Cash" denotes U.S. dollars.

Exposure As of 11/30/24

Sector Weight (%)
Energy 25.8
Financials 22.7
Consumer Staples 15.0
Industrials 15.0
Materials 8.8
Communication Services 7.8
Information Technology 3.3
Consumer Discretionary 0.6
Utilities 0.5
Real Estate 0.5

Source: new windowAltaVista Research, LLC

Industry Weight (%)
Energy 26.1
Banks 16.0
Food, Beverage & Tobacco 15.1
Capital Goods 9.6
Materials 8.9
Insurance 6.1
Transportation 4.7
Telecommunication Services 4.4
Media & Entertainment 3.4
Software & Services 2.0
Semiconductors & Semiconductor Equipment 1.0
Other 2.7

Source: new windowAltaVista 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 As of 12/03/24

Return on Equity 14.30%
Weighted Avg. Market Cap 19,286 M
2023 2024
Price-to-earnings 12.60 11.58
Price-to-book value 1.68 1.62

Source: new windowAltaVista Research, LLC

ETF Risk Stats As of 11/30/24

Versus Beta
S&P 500 0.94
NASDAQ-100 0.56
MSCI EAFE 1.04
MSCI Emg. Mkts 0.76
Standard Deviation 22.70%

Source: new windowAltaVista Research, LLC

ETF Documents

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.