ENOR vs. NORW
Compare and contrast key facts about iShares MSCI Norway ETF (ENOR) and Global X MSCI Norway ETF (NORW).
ENOR and NORW 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. NORW is a passively managed fund by Global X that tracks the performance of the MSCI Norway IMI 25/50 Index. It was launched on Nov 9, 2010. Both ENOR and NORW 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. NORW - Performance Comparison
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ENOR vs. NORW - 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% |
NORW Global X MSCI Norway ETF | 27.18% | 32.59% | -2.50% | 5.03% | -12.55% | 13.65% | 26.00% | 14.39% | -10.39% | 24.03% |
Returns By Period
The year-to-date returns for both stocks are quite close, with ENOR having a 28.39% return and NORW slightly lower at 27.18%. Both investments have delivered pretty close results over the past 10 years, with ENOR having a 10.41% annualized return and NORW not far behind at 9.91%.
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%
NORW
- 1D
- 2.44%
- 1M
- 6.82%
- YTD
- 27.18%
- 6M
- 28.29%
- 1Y
- 46.00%
- 3Y*
- 22.15%
- 5Y*
- 10.33%
- 10Y*
- 9.91%
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ENOR vs. NORW - Expense Ratio Comparison
ENOR has a 0.53% expense ratio, which is higher than NORW's 0.50% expense ratio.
Return for Risk
ENOR vs. NORW — Risk / Return Rank
ENOR
NORW
ENOR vs. NORW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Norway ETF (ENOR) and Global X MSCI Norway ETF (NORW). 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 | NORW | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.04 | 2.07 | -0.04 |
Sortino ratioReturn per unit of downside risk | 2.74 | 2.73 | 0.00 |
Omega ratioGain probability vs. loss probability | 1.42 | 1.41 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 3.14 | 2.97 | +0.18 |
Martin ratioReturn relative to average drawdown | 12.84 | 12.16 | +0.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ENOR | NORW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | 2.07 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.47 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.48 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.41 | -0.15 |
Correlation
The correlation between ENOR and NORW is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
ENOR vs. NORW - Dividend Comparison
ENOR's dividend yield for the trailing twelve months is around 2.30%, less than NORW's 2.71% 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% |
NORW Global X MSCI Norway ETF | 2.71% | 3.44% | 6.02% | 5.27% | 4.01% | 1.51% | 1.13% | 2.47% | 3.53% | 3.64% | 3.79% | 2.95% |
Drawdowns
ENOR vs. NORW - Drawdown Comparison
The maximum ENOR drawdown since its inception was -55.35%, which is greater than NORW's maximum drawdown of -35.62%. Use the drawdown chart below to compare losses from any high point for ENOR and NORW.
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Drawdown Indicators
| ENOR | NORW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.35% | -35.62% | -19.73% |
Max Drawdown (1Y)Largest decline over 1 year | -15.10% | -15.77% | +0.67% |
Max Drawdown (5Y)Largest decline over 5 years | -32.65% | -32.78% | +0.13% |
Max Drawdown (10Y)Largest decline over 10 years | -54.21% | -33.86% | -20.35% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -16.76% | -10.22% | -6.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.70% | 3.85% | -0.15% |
Volatility
ENOR vs. NORW - Volatility Comparison
iShares MSCI Norway ETF (ENOR) has a higher volatility of 7.60% compared to Global X MSCI Norway ETF (NORW) at 7.20%. This indicates that ENOR's price experiences larger fluctuations and is considered to be riskier than NORW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENOR | NORW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.60% | 7.20% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 13.33% | 13.06% | +0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.04% | 22.29% | +0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.27% | 21.93% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.08% | 20.79% | +3.29% |