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EUSC vs. ENOR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EUSC vs. ENOR

Last updated Jun 24, 2026

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

Performance

EUSC vs. ENOR - Performance Comparison

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

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Returns By Period

EUSC

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

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

EUSC vs. ENOR - Yearly Performance Comparison

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

Correlation

The correlation between EUSC and ENOR 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

EUSC vs. ENOR - Sectors Allocation Comparison

Sectors
EUSC
ENOR

Financial Services

28.4%
22.0%

Industrials

20.1%
14.4%

Real Estate

9.3%
0.4%

Consumer Cyclical

9.1%
0.6%

Basic Materials

6.5%
11.0%

Utilities

6.5%
0.7%

Communication Services

5.0%
6.6%

Technology

4.4%
4.4%

Consumer Defensive

4.1%
12.0%

Energy

3.7%
28.0%

Healthcare

2.9%

-

Financial Services

EUSC
28.4%
ENOR
22.0%

Industrials

EUSC
20.1%
ENOR
14.4%

Real Estate

EUSC
9.3%
ENOR
0.4%

Consumer Cyclical

EUSC
9.1%
ENOR
0.6%

Basic Materials

EUSC
6.5%
ENOR
11.0%

Utilities

EUSC
6.5%
ENOR
0.7%

Communication Services

EUSC
5.0%
ENOR
6.6%

Technology

EUSC
4.4%
ENOR
4.4%

Consumer Defensive

EUSC
4.1%
ENOR
12.0%

Energy

EUSC
3.7%
ENOR
28.0%

Healthcare

EUSC
2.9%
ENOR

-

Compare stocks, funds, or ETFs

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WisdomTree Europe Hedged SmallCap Equity Fund

iShares MSCI Norway ETF

Often compared with EUSC:
EUSC vs. VGKEUSC vs. IEUSEUSC vs. IXUSEUSC vs. IEUREUSC vs. SYLDEUSC vs. AVDVEUSC vs. FEZ
Often compared with ENOR:
ENOR vs. NORWENOR vs. EDENENOR vs. QATENOR vs. CN1G.DEENOR vs. EIRLENOR vs. NATENOR vs. VOO

Return for Risk

EUSC vs. ENOR — Risk / Return Rank

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

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

ENOR
ENOR Risk / Return Rank: 3838
Overall Rank
ENOR Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
ENOR Sortino Ratio Rank: 3737
Sortino Ratio Rank
ENOR Omega Ratio Rank: 3333
Omega Ratio Rank
ENOR Calmar Ratio Rank: 4141
Calmar Ratio Rank
ENOR Martin Ratio Rank: 4242
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.

EUSC vs. ENOR - Risk-Adjusted Trends Comparison

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

EUSCENORDifference
Sharpe ratioReturn per unit of total volatility

—

1.22

—

Sortino ratioReturn per unit of downside risk

—

1.82

—

Omega ratioGain probability vs. loss probability

—

1.21

—

Calmar ratioReturn relative to maximum drawdown

—

1.93

—

Martin ratioReturn relative to average drawdown

—

6.40

—

EUSC vs. ENOR - Sharpe Ratio Comparison

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Drawdowns

EUSC vs. ENOR - Drawdown Comparison

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

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Drawdown Indicators

EUSCENORDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-55.35%

+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

0.00%

-11.24%

+11.24%

Average Drawdown

Average peak-to-trough decline

0.00%

-16.54%

+16.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

3.40%

—

Volatility

EUSC vs. ENOR - Volatility Comparison

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Volatility by Period

EUSCENORDifference

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

1.10%

17.79%

-16.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

1.10%

22.16%

-21.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

1.10%

23.78%

-22.68%

EUSC vs. ENOR - Expense Ratio Comparison

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

Dividends

EUSC vs. ENOR - Dividend Comparison

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

PositionTTM20252024202320222021202020192018201720162015
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

EUSC and ENOR 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.

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.

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

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

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

Portfolio Optimizer

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