NORW vs. EWD
Compare and contrast key facts about Global X MSCI Norway ETF (NORW) and iShares MSCI Sweden ETF (EWD).
NORW and EWD 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. EWD is a passively managed fund by iShares that tracks the performance of the MSCI Sweden Index. It was launched on Mar 12, 1996. Both NORW and EWD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: NORW or EWD.
Key characteristics
| NORW | EWD | |
|---|---|---|
| YTD Return | 0.79% | 2.69% |
| 1Y Return | 12.50% | 26.59% |
| 3Y Return (Ann) | -4.51% | -3.26% |
| 5Y Return (Ann) | 6.82% | 7.57% |
| 10Y Return (Ann) | 4.01% | 5.46% |
| Sharpe Ratio | 0.70 | 1.44 |
| Sortino Ratio | 1.05 | 2.01 |
| Omega Ratio | 1.13 | 1.25 |
| Calmar Ratio | 0.54 | 0.95 |
| Martin Ratio | 3.20 | 6.13 |
| Ulcer Index | 4.10% | 4.42% |
| Daily Std Dev | 18.67% | 18.76% |
| Max Drawdown | -35.62% | -74.27% |
| Current Drawdown | -14.84% | -9.60% |
Correlation
The correlation between NORW and EWD is 0.82, 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.
Performance
NORW vs. EWD - Performance Comparison
In the year-to-date period, NORW achieves a 0.79% return, which is significantly lower than EWD's 2.69% return. Over the past 10 years, NORW has underperformed EWD with an annualized return of 4.01%, while EWD has yielded a comparatively higher 5.46% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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NORW vs. EWD - Expense Ratio Comparison
NORW has a 0.50% expense ratio, which is lower than EWD's 0.55% expense ratio.
Risk-Adjusted Performance
NORW vs. EWD - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Norway ETF (NORW) and iShares MSCI Sweden ETF (EWD). 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.
Dividends
NORW vs. EWD - Dividend Comparison
NORW's dividend yield for the trailing twelve months is around 5.26%, more than EWD's 4.04% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NORW Global X MSCI Norway ETF | 5.26% | 5.27% | 4.01% | 2.42% | 1.13% | 2.47% | 3.54% | 3.64% | 3.78% | 2.95% | 3.85% | 2.58% |
EWD iShares MSCI Sweden ETF | 4.04% | 2.41% | 3.68% | 5.46% | 0.98% | 4.15% | 5.17% | 3.23% | 3.91% | 4.08% | 3.92% | 3.47% |
Drawdowns
NORW vs. EWD - Drawdown Comparison
The maximum NORW drawdown since its inception was -35.62%, smaller than the maximum EWD drawdown of -74.27%. Use the drawdown chart below to compare losses from any high point for NORW and EWD. For additional features, visit the drawdowns tool.
Volatility
NORW vs. EWD - Volatility Comparison
The current volatility for Global X MSCI Norway ETF (NORW) is 5.44%, while iShares MSCI Sweden ETF (EWD) has a volatility of 5.86%. This indicates that NORW experiences smaller price fluctuations and is considered to be less risky than EWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.