NORW vs. FLEU
Compare and contrast key facts about Global X MSCI Norway ETF (NORW) and Franklin FTSE Eurozone ETF (FLEU).
NORW and FLEU 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. FLEU is a passively managed fund by Franklin Templeton that tracks the performance of the FTSE Developed Eurozone Index - Benchmark TR Net. It was launched on Nov 2, 2017. Both NORW and FLEU 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. FLEU - Performance Comparison
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NORW vs. FLEU - 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% | -1.39% |
FLEU Franklin FTSE Eurozone ETF | -2.81% | 41.56% | 2.26% | 16.21% | -9.14% | 23.27% | 0.95% | 26.94% | -8.54% | -1.24% |
Returns By Period
In the year-to-date period, NORW achieves a 27.18% return, which is significantly higher than FLEU's -2.81% 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%
FLEU
- 1D
- 3.62%
- 1M
- -9.14%
- YTD
- -2.81%
- 6M
- 1.86%
- 1Y
- 21.11%
- 3Y*
- 14.33%
- 5Y*
- 10.90%
- 10Y*
- —
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NORW vs. FLEU - Expense Ratio Comparison
NORW has a 0.50% expense ratio, which is higher than FLEU's 0.09% expense ratio.
Return for Risk
NORW vs. FLEU — Risk / Return Rank
NORW
FLEU
NORW vs. FLEU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Norway ETF (NORW) and Franklin FTSE Eurozone ETF (FLEU). 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 | FLEU | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.07 | 1.10 | +0.97 |
Sortino ratioReturn per unit of downside risk | 2.73 | 1.66 | +1.08 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.23 | +0.18 |
Calmar ratioReturn relative to maximum drawdown | 2.97 | 1.48 | +1.49 |
Martin ratioReturn relative to average drawdown | 12.16 | 5.76 | +6.40 |
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 | FLEU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.07 | 1.10 | +0.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.69 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.52 | -0.11 |
Correlation
The correlation between NORW and FLEU is 0.59, 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. FLEU - Dividend Comparison
NORW's dividend yield for the trailing twelve months is around 2.71%, more than FLEU's 2.29% 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% |
FLEU Franklin FTSE Eurozone ETF | 2.29% | 2.22% | 3.18% | 3.25% | 21.45% | 3.03% | 1.94% | 6.06% | 12.17% | 0.07% | 0.00% | 0.00% |
Drawdowns
NORW vs. FLEU - Drawdown Comparison
The maximum NORW drawdown since its inception was -35.62%, roughly equal to the maximum FLEU drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for NORW and FLEU.
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Drawdown Indicators
| NORW | FLEU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.62% | -33.94% | -1.68% |
Max Drawdown (1Y)Largest decline over 1 year | -15.77% | -13.41% | -2.36% |
Max Drawdown (5Y)Largest decline over 5 years | -32.78% | -18.67% | -14.11% |
Max Drawdown (10Y)Largest decline over 10 years | -33.86% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -9.92% | +9.92% |
Average DrawdownAverage peak-to-trough decline | -10.22% | -4.73% | -5.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.85% | 3.45% | +0.40% |
Volatility
NORW vs. FLEU - Volatility Comparison
The current volatility for Global X MSCI Norway ETF (NORW) is 7.20%, while Franklin FTSE Eurozone ETF (FLEU) has a volatility of 8.86%. This indicates that NORW experiences smaller price fluctuations and is considered to be less risky than FLEU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NORW | FLEU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.20% | 8.86% | -1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 13.06% | 12.19% | +0.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.29% | 19.25% | +3.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.93% | 15.91% | +6.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.79% | 18.16% | +2.63% |