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ENOR vs. AKRBY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ENOR vs. AKRBY

Last updated Jun 4, 2026

ENOR (iShares MSCI Norway ETF) is Europe Equities fund tracking the MSCI Norway IMI 25/50 Index, while AKRBY (Aker BP ASA) is a stock. Over the past 3 years, ENOR returned 23.56%/yr vs 31.44%/yr for AKRBY. At a 0.19 correlation, their price movements are largely independent.

Performance

ENOR vs. AKRBY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Norway ETF (ENOR) and Aker BP ASA (AKRBY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ENOR achieves a 28.21% return, which is significantly lower than AKRBY's 58.74% return.

ENOR

1D
-0.57%
1M
-1.34%
YTD
28.21%
6M
33.17%
1Y
37.30%
3Y*
23.56%
5Y*
8.25%
10Y*
9.41%

AKRBY

1D
1.00%
1M
5.05%
YTD
58.74%
6M
70.69%
1Y
76.50%
3Y*
31.44%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

ENOR vs. AKRBY - Yearly Performance Comparison

2026 (YTD)202520242023
ENOR
iShares MSCI Norway ETF		28.21%32.00%-2.29%3.66%
AKRBY
Aker BP ASA		58.74%46.41%-15.83%-2.72%

Correlation

The correlation between ENOR and AKRBY is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.24

Correlation (3Y)
Calculated over the trailing 3-year period

0.19

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2023

0.19

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Norway ETF

Aker BP ASA

Often compared with ENOR:
ENOR vs. NORWENOR vs. EDENENOR vs. QATENOR vs. CN1G.DEENOR vs. EIRLENOR vs. NATENOR vs. VOO
Often compared with AKRBY:
AKRBY vs. KBGGYAKRBY vs. BWLLYAKRBY vs. NRDBYAKRBY vs. TM2.FAKRBY vs. SESG.PAAKRBY vs. EPDAKRBY vs. VUAA.DE

Return for Risk

ENOR vs. AKRBY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ENOR
ENOR Risk / Return Rank: 6666
Overall Rank
ENOR Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
ENOR Sortino Ratio Rank: 6565
Sortino Ratio Rank
ENOR Omega Ratio Rank: 5959
Omega Ratio Rank
ENOR Calmar Ratio Rank: 8080
Calmar Ratio Rank
ENOR Martin Ratio Rank: 6565
Martin Ratio Rank
AKRBY
AKRBY Risk / Return Rank: 8080
Overall Rank
AKRBY Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
AKRBY Sortino Ratio Rank: 7474
Sortino Ratio Rank
AKRBY Omega Ratio Rank: 7979
Omega Ratio Rank
AKRBY Calmar Ratio Rank: 8686
Calmar Ratio Rank
AKRBY Martin Ratio Rank: 8585
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ENOR vs. AKRBY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Norway ETF (ENOR) and Aker BP ASA (AKRBY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

ENORAKRBYDifference
Sharpe ratioReturn per unit of total volatility
2.15
1.17

+0.98

Sortino ratioReturn per unit of downside risk
3.04
1.97

+1.07

Omega ratioGain probability vs. loss probability

1.37

1.30

+0.06

Calmar ratioReturn relative to maximum drawdown

4.16

3.69

+0.46

Martin ratioReturn relative to average drawdown

11.78

8.70

+3.08

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ENOR vs. AKRBY - Sharpe Ratio Comparison

The current ENOR Sharpe Ratio is 2.15, which is higher than the AKRBY Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of ENOR and AKRBY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ENORAKRBYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.15

1.17

+0.98

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.37

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.39

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

0.36

-0.11

Drawdowns

ENOR vs. AKRBY - Drawdown Comparison

The maximum ENOR drawdown since its inception was -55.35%, which is greater than AKRBY's maximum drawdown of -33.82%. Use the drawdown chart below to compare losses from any high point for ENOR and AKRBY.

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Drawdown Indicators

ENORAKRBYDifference

Max Drawdown

Largest peak-to-trough decline

-55.35%

-33.82%

-21.53%

Max Drawdown (1Y)

Largest decline over 1 year

-9.01%

-20.93%

+11.92%

Max Drawdown (3Y)

Largest decline over 3 years

-15.84%

-33.82%

+17.98%

Max Drawdown (5Y)

Largest decline over 5 years

-32.65%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-54.21%

—

—

Current Drawdown

Current decline from peak

-3.15%

-13.43%

+10.28%

Average Drawdown

Average peak-to-trough decline

-16.58%

-10.75%

-5.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.18%

8.85%

-5.67%

Volatility

ENOR vs. AKRBY - Volatility Comparison

The current volatility for iShares MSCI Norway ETF (ENOR) is 5.14%, while Aker BP ASA (AKRBY) has a volatility of 32.50%. This indicates that ENOR experiences smaller price fluctuations and is considered to be less risky than AKRBY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ENORAKRBYDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.14%

32.50%

-27.36%

Volatility (6M)

Calculated over the trailing 6-month period

13.62%

52.57%

-38.95%

Volatility (1Y)

Calculated over the trailing 1-year period

17.43%

66.03%

-48.60%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.18%

59.68%

-37.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.02%

59.68%

-35.66%

Dividends

ENOR vs. AKRBY - Dividend Comparison

ENOR's dividend yield for the trailing twelve months is around 2.31%, less than AKRBY's 6.54% yield.

PositionTTM20252024202320222021202020192018201720162015
AKRBY
Aker BP ASA		6.54%9.75%12.28%15.16%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ENOR
iShares MSCI Norway ETF		2.31%2.96%6.32%5.06%4.02%2.24%2.39%3.15%2.79%2.47%2.96%3.24%

Frequently Asked Questions

ENOR and AKRBY have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

AKRBY has higher volatility (32.50%) compared to ENOR (5.14%). In terms of maximum drawdown, ENOR dropped -55.35% vs AKRBY's -33.82%.

ENOR currently has the higher Sharpe Ratio (2.15 vs 1.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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