ENOR vs. EUSC

Last updated Jun 24, 2026

ENOR (iShares MSCI Norway ETF) and EUSC (WisdomTree Europe Hedged SmallCap Equity Fund) are both Europe Equities funds - ENOR tracks the MSCI Norway IMI 25/50 Index while EUSC tracks the WisdomTree Europe Hedged SmallCap Equity Index. Both are passively managed. At a 0.30 correlation, their price movements are largely independent. ENOR charges 0.53%/yr vs 0.58%/yr for EUSC.

Performance

ENOR vs. EUSC - Performance Comparison

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

Returns By Period

ENOR

• 1D: -1.25%
• 1M: -10.30%
• YTD: 17.50%
• 6M: 17.83%
• 1Y: 21.63%
• 3Y*: 20.52%
• 5Y*: 7.02%
• 10Y*: 9.38%

EUSC

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ENOR vs. EUSC - Yearly Performance Comparison

	2026 (YTD)
ENOR iShares MSCI Norway ETF	-8.60%
EUSC WisdomTree Europe Hedged SmallCap Equity Fund	0.18%

Correlation

The correlation between ENOR and EUSC is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.30

ENOR vs. EUSC - Sectors Allocation Comparison

Sectors	ENOR	EUSC
Energy	28.0%	3.7%
Financial Services	22.0%	28.4%
Industrials	14.4%	20.1%
Consumer Defensive	12.0%	4.1%
Basic Materials	11.0%	6.5%
Communication Services	6.6%	5.0%
Technology	4.4%	4.4%
Utilities	0.7%	6.5%
Consumer Cyclical	0.6%	9.1%
Real Estate	0.4%	9.3%
Healthcare	-	2.9%

Return for Risk

ENOR vs. EUSC — Risk / Return Rank

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

ENOR

ENOR Risk / Return Rank: 38
ENOR Sharpe Ratio Rank: 36
ENOR Sortino Ratio Rank: 37
ENOR Omega Ratio Rank: 33
ENOR Calmar Ratio Rank: 41
ENOR Martin Ratio Rank: 42

EUSC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. EUSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Norway ETF (ENOR) and WisdomTree Europe Hedged SmallCap Equity Fund (EUSC). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ENOR	EUSC	Difference
Sharpe ratio: Return per unit of total volatility	1.22	—	—
Sortino ratio: Return per unit of downside risk	1.82	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.93	—	—
Martin ratio: Return relative to average drawdown	6.40	—	—

Drawdowns

ENOR vs. EUSC - Drawdown Comparison

The maximum ENOR drawdown since its inception was -55.35%, which is greater than EUSC's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for ENOR and EUSC.

Drawdown Indicators

	ENOR	EUSC	Difference
Max Drawdown Largest peak-to-trough decline	-55.35%	0.00%	-55.35%
Max Drawdown (1Y) Largest decline over 1 year	-11.24%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.84%	—	—
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	-11.24%	0.00%	-11.24%
Average Drawdown Average peak-to-trough decline	-16.54%	0.00%	-16.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	—	—

Volatility

Volatility by Period

	ENOR	EUSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.32%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.79%	1.10%	+16.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.16%	1.10%	+21.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.78%	1.10%	+22.68%

ENOR vs. EUSC - Expense Ratio Comparison

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

Dividends

ENOR vs. EUSC - Dividend Comparison

ENOR's dividend yield for the trailing twelve months is around 5.68%, while EUSC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENOR iShares MSCI Norway ETF	5.68%	2.96%	6.32%	5.06%	4.02%	2.24%	2.39%	3.15%	2.79%	2.47%	2.96%	3.24%
EUSC WisdomTree Europe Hedged SmallCap Equity Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ENOR and EUSC in my portfolio?

ENOR and EUSC have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ENOR or EUSC?

On fees, ENOR is cheaper at 0.53% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ENOR or EUSC?

ENOR is cheaper with a 0.53% expense ratio, compared with 0.58% for EUSC.

Which ETF pays a higher dividend yield, ENOR or EUSC?

ENOR has the higher dividend yield at 5.68%, compared with 0.00% for EUSC.

What is the main difference between ENOR and EUSC?

ENOR tracks MSCI Norway IMI 25/50 Index, while EUSC tracks WisdomTree Europe Hedged SmallCap Equity Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.53% for ENOR and 0.58% for EUSC.