ENOR vs. EUDG

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI Norway ETF (ENOR) and WisdomTree Europe Quality Dividend Growth Fund (EUDG).

ENOR and EUDG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ENOR is a passively managed fund by iShares that tracks the performance of the MSCI Norway IMI 25/50 Index. It was launched on Jan 23, 2012. EUDG is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Europe Quality Dividend Growth Index. It was launched on May 7, 2014. Both ENOR and EUDG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ENOR vs. EUDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Norway ETF (ENOR) and WisdomTree Europe Quality Dividend Growth Fund (EUDG). The values are adjusted to include any dividend payments, if applicable.

ENOR vs. EUDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENOR iShares MSCI Norway ETF	28.39%	32.00%	-2.29%	4.80%	-12.53%	18.69%	2.54%	12.77%	-8.50%	21.98%
EUDG WisdomTree Europe Quality Dividend Growth Fund	-2.65%	28.94%	-4.30%	19.36%	-18.24%	16.87%	11.29%	28.52%	-15.19%	29.66%

Returns By Period

In the year-to-date period, ENOR achieves a 28.39% return, which is significantly higher than EUDG's -2.65% return. Over the past 10 years, ENOR has outperformed EUDG with an annualized return of 10.41%, while EUDG has yielded a comparatively lower 7.83% annualized return.

ENOR

• 1D: 2.75%
• 1M: 7.24%
• YTD: 28.39%
• 6M: 30.76%
• 1Y: 46.68%
• 3Y*: 22.37%
• 5Y*: 10.05%
• 10Y*: 10.41%

EUDG

• 1D: 2.85%
• 1M: -8.92%
• YTD: -2.65%
• 6M: 4.30%
• 1Y: 14.50%
• 3Y*: 8.89%
• 5Y*: 5.52%
• 10Y*: 7.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ENOR vs. EUDG - Expense Ratio Comparison

ENOR has a 0.53% expense ratio, which is lower than EUDG's 0.58% expense ratio.

EUDG

WisdomTree Europe Quality Dividend Growth Fund

ENOR

iShares MSCI Norway ETF

Return for Risk

ENOR vs. EUDG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ENOR

ENOR Risk / Return Rank: 92
ENOR Sharpe Ratio Rank: 91
ENOR Sortino Ratio Rank: 92
ENOR Omega Ratio Rank: 93
ENOR Calmar Ratio Rank: 91
ENOR Martin Ratio Rank: 92

EUDG

EUDG Risk / Return Rank: 47
EUDG Sharpe Ratio Rank: 50
EUDG Sortino Ratio Rank: 50
EUDG Omega Ratio Rank: 46
EUDG Calmar Ratio Rank: 44
EUDG Martin Ratio Rank: 45

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. EUDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Norway ETF (ENOR) and WisdomTree Europe Quality Dividend Growth Fund (EUDG). 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.

	ENOR	EUDG	Difference
Sharpe ratio Return per unit of total volatility	2.04	0.88	+1.15
Sortino ratio Return per unit of downside risk	2.74	1.32	+1.41
Omega ratio Gain probability vs. loss probability	1.42	1.17	+0.25
Calmar ratio Return relative to maximum drawdown	3.14	1.11	+2.03
Martin ratio Return relative to average drawdown	12.84	4.24	+8.59
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. EUDG - Sharpe Ratio Comparison

The current ENOR Sharpe Ratio is 2.04, which is higher than the EUDG Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of ENOR and EUDG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ENOR	EUDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	0.88	+1.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.34	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.45	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.32	-0.07

Correlation

The correlation between ENOR and EUDG is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ENOR vs. EUDG - Dividend Comparison

ENOR's dividend yield for the trailing twelve months is around 2.30%, less than EUDG's 2.35% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENOR iShares MSCI Norway ETF	2.30%	2.96%	6.32%	5.06%	4.02%	2.24%	2.39%	3.15%	2.79%	2.47%	2.96%	3.24%
EUDG WisdomTree Europe Quality Dividend Growth Fund	2.35%	2.19%	2.41%	2.14%	3.07%	2.98%	1.87%	2.30%	3.00%	1.55%	2.49%	2.10%

Drawdowns

ENOR vs. EUDG - Drawdown Comparison

The maximum ENOR drawdown since its inception was -55.35%, which is greater than EUDG's maximum drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for ENOR and EUDG.

Drawdown Indicators

	ENOR	EUDG	Difference
Max Drawdown Largest peak-to-trough decline	-55.35%	-33.76%	-21.59%
Max Drawdown (1Y) Largest decline over 1 year	-15.10%	-12.20%	-2.90%
Max Drawdown (5Y) Largest decline over 5 years	-32.65%	-33.30%	+0.65%
Max Drawdown (10Y) Largest decline over 10 years	-54.21%	-33.76%	-20.45%
Current Drawdown Current decline from peak	0.00%	-9.27%	+9.27%
Average Drawdown Average peak-to-trough decline	-16.76%	-7.77%	-8.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.70%	3.20%	+0.50%

Volatility

ENOR vs. EUDG - Volatility Comparison

iShares MSCI Norway ETF (ENOR) has a higher volatility of 7.60% compared to WisdomTree Europe Quality Dividend Growth Fund (EUDG) at 6.98%. This indicates that ENOR's price experiences larger fluctuations and is considered to be riskier than EUDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENOR	EUDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.60%	6.98%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	13.33%	10.65%	+2.68%
Volatility (1Y) Calculated over the trailing 1-year period	23.04%	16.52%	+6.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.27%	16.45%	+5.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.08%	17.57%	+6.51%