Global X - MSCI Norway ETF (NORW) Holdings & Expense Ratio
For informational purposes only. Not financial advice.
Global X - MSCI Norway ETF (NORW) has a last stored price of $35.50, as of the Oct 2, 2026 trading session. It has a 0.50% expense ratio and $120M in assets under management.
Holdings and weights below are as of Mar 15, 2026. In the stored portfolio snapshot, the largest listed holding is DNB Bank ASA (DNB.OL) at 12.60%, and the largest sector allocation is Financial Services at 24.6%.
Global X - MSCI Norway ETF (NORW) ETF — Price, Holdings & Analysis
ETF Overview
Risk Metrics
- Beta: 0.96
Expense Ratio
What does NORW hold?
| Holding | Weight |
|---|---|
| DNB Bank ASA (DNB.OL) | 12.60% |
| Equinor ASA (EQNR.OL) | 10.81% |
| Kongsberg Gruppen ASA (KOG.OL) | 7.99% |
| Norsk Hydro ASA (NHY.OL) | 5.73% |
| Mowi ASA (MOWI.OL) | 4.91% |
| Telenor ASA (TEL.OL) | 4.64% |
| Orkla ASA (ORK.OL) | 4.29% |
| Aker BP ASA (AKRBP.OL) | 4.20% |
| Yara International ASA (YAR.OL) | 3.74% |
| Storebrand ASA (STB.OL) | 3.57% |
This fund data is more than 45 days old; verify current holdings with the issuer.
How Is the Fund Allocated?
| Sector | Weight |
|---|---|
| Financial Services | 24.6% |
| Energy | 23.9% |
| Industrials | 15.8% |
| Consumer Defensive | 14.0% |
| Basic Materials | 9.9% |
| Communication Services | 6.8% |
| Technology | 3.7% |
| Utilities | 0.7% |
| Real Estate | 0.4% |
| Consumer Cyclical | 0.3% |
| Country | Weight |
|---|---|
| Norway | 91.2% |
| United Kingdom | 3.3% |
| Cyprus | 2.3% |
| Faroe Islands | 1.0% |
| Bermuda | 0.8% |
| Singapore | 0.7% |
| Denmark | 0.6% |
| Other | 0.0% |
Dividend Yield
- ARK Innovation ETF (ARKK) — 0.75% expense ratio
- Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
- State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
- State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
- State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
- WisdomTree Emerging Markets ESG Fund (DVEM) — 0.32% expense ratio
- Goldman Sachs ActiveBeta Emerging Markets Equity ETF (GEM) — 0.59% expense ratio
- iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio
- Global X - S&P 500 Catholic Values ETF (CATH) (Equity) — 0.29% expense ratio
- Global X China Innovation ETF (KEJI) (Equity) — 0.75% expense ratio
- Global X - MSCI SuperDividend EAFE ETF (EFAS) (Equity) — 0.55% expense ratio
- Global X Funds - Global X Nasdaq 100 ESG Covered Call ETF (QYLE) (Equity) — 0.61% expense ratio
- Global X - Adaptive U.S. Risk Management ETF (ONOF) (Equity) — 0.39% expense ratio
- Global X - Genomics & Biotechnology ETF (GNOM) (Equity) — 0.50% expense ratio
Questions & Answers
What is NORW and what does it track?
The Global X MSCI Norway ETF (NORW) is an exchange-traded fund designed to track the investment results of the MSCI Norway IMI 25/50 Index. This index represents a broad range of companies in the Norwegian equity market.
By investing in NORW, investors gain exposure to a diversified portfolio of Norwegian stocks, including large, mid, and small-cap companies.
What is the expense ratio for NORW?
The expense ratio for the Global X MSCI Norway ETF (NORW) is 0.50%. This means that for every $10,000 invested in the fund, $50 is used to cover the fund's operating expenses annually.
What are the top holdings in NORW?
As of 2026-03-15, the top holdings in the Global X MSCI Norway ETF (NORW) are: DNB Bank ASA (12.60%), Equinor ASA (10.81%), Kongsberg Gruppen ASA (7.99%), Norsk Hydro ASA (5.73%), and Mowi ASA (4.91%).
Is NORW a good long-term investment?
Whether NORW is a suitable long-term investment depends on an individual's investment goals, risk tolerance, and outlook on the Norwegian economy. NORW provides targeted exposure to the Norwegian equity market, which can offer diversification benefits.
However, it also exposes investors to country-specific risks. The fund's beta of 0.96 suggests it has historically moved in line with the broader market.
How does NORW compare to similar ETFs?
NORW is relatively unique, as there are few ETFs that offer focused exposure specifically to the Norwegian equity market. Compared to broader European or global equity ETFs, NORW is much more concentrated in a single country.
Its expense ratio of 0.50% is higher than many broad-based international ETFs.
Does NORW pay dividends?
As of 2026-03-15, the Global X MSCI Norway ETF (NORW) has a dividend yield of 0.00%. This indicates that the fund is not currently distributing dividends to its shareholders.
The dividend yield can fluctuate over time depending on the dividend policies of the underlying companies held within the fund and the fund's distribution policy. Investors seeking income-generating investments may want to consider other ETFs with higher dividend yields.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Data provided for informational purposes only.
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