NORW vs. DXJ
Compare and contrast key facts about Global X MSCI Norway ETF (NORW) and WisdomTree Japan Hedged Equity Fund (DXJ).
NORW and DXJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. DXJ is a passively managed fund by WisdomTree that tracks the performance of the WisdomTree Japan Hedged Equity Index. It was launched on Jun 16, 2006. Both NORW and DXJ 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
NORW vs. DXJ - Performance Comparison
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NORW vs. DXJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
DXJ WisdomTree Japan Hedged Equity Fund | 10.00% | 32.78% | 29.83% | 42.04% | 5.96% | 17.99% | 3.94% | 18.94% | -19.78% | 22.81% |
Returns By Period
In the year-to-date period, NORW achieves a 27.18% return, which is significantly higher than DXJ's 10.00% return. Over the past 10 years, NORW has underperformed DXJ with an annualized return of 9.91%, while DXJ has yielded a comparatively higher 17.25% annualized return.
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%
DXJ
- 1D
- 2.59%
- 1M
- -6.49%
- YTD
- 10.00%
- 6M
- 24.19%
- 1Y
- 46.21%
- 3Y*
- 34.37%
- 5Y*
- 24.33%
- 10Y*
- 17.25%
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NORW vs. DXJ - Expense Ratio Comparison
NORW has a 0.50% expense ratio, which is higher than DXJ's 0.48% expense ratio.
Return for Risk
NORW vs. DXJ — Risk / Return Rank
NORW
DXJ
NORW vs. DXJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Norway ETF (NORW) and WisdomTree Japan Hedged Equity Fund (DXJ). 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.
| NORW | DXJ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.07 | 2.04 | +0.03 |
Sortino ratioReturn per unit of downside risk | 2.73 | 2.67 | +0.06 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.41 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 2.97 | 3.46 | -0.49 |
Martin ratioReturn relative to average drawdown | 12.16 | 13.69 | -1.53 |
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
| NORW | DXJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 2.04 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 1.29 | -0.82 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.84 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.41 | 0.00 |
Correlation
The correlation between NORW and DXJ is 0.50, 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
NORW vs. DXJ - Dividend Comparison
NORW's dividend yield for the trailing twelve months is around 2.71%, more than DXJ's 1.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
DXJ WisdomTree Japan Hedged Equity Fund | 1.18% | 1.29% | 3.48% | 3.44% | 3.02% | 2.64% | 2.53% | 2.47% | 2.92% | 2.30% | 1.98% | 5.95% |
Drawdowns
NORW vs. DXJ - Drawdown Comparison
The maximum NORW drawdown since its inception was -35.62%, smaller than the maximum DXJ drawdown of -49.63%. Use the drawdown chart below to compare losses from any high point for NORW and DXJ.
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Drawdown Indicators
| NORW | DXJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.62% | -49.63% | +14.01% |
Max Drawdown (1Y)Largest decline over 1 year | -15.77% | -12.65% | -3.12% |
Max Drawdown (5Y)Largest decline over 5 years | -32.78% | -22.19% | -10.59% |
Max Drawdown (10Y)Largest decline over 10 years | -33.86% | -39.14% | +5.28% |
Current DrawdownCurrent decline from peak | 0.00% | -6.79% | +6.79% |
Average DrawdownAverage peak-to-trough decline | -10.22% | -14.44% | +4.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.85% | 3.31% | +0.54% |
Volatility
NORW vs. DXJ - Volatility Comparison
The current volatility for Global X MSCI Norway ETF (NORW) is 7.20%, while WisdomTree Japan Hedged Equity Fund (DXJ) has a volatility of 7.80%. This indicates that NORW experiences smaller price fluctuations and is considered to be less risky than DXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NORW | DXJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.20% | 7.80% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 13.06% | 13.70% | -0.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.29% | 22.77% | -0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.93% | 18.91% | +3.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.79% | 20.50% | +0.29% |