Fund Summary

The Global X MSCI Norway ETF (NORW) invests in among the largest and most liquid Norwegian securities.

Fund Objective

The Global X MSCI Norway ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Norway IMI 25/50 Index.


Efficient Access

Efficient access to a broad basket of Norwegian securities.

Targeted Exposure

The fund targets exposure to a single country.

Fund Details As of 10/16/17

Ticker NORW
Primary Exchange NYSE Arca
CUSIP 37950E747
ISIN US37950E7470
Net Assets $189,155,093.34
Management Fee 0.50%
Annual Fund Operating Expense 0.50%
Inception Date 11/9/10
Shares Outstanding 13,750,000
30-Day SEC Yield 3.45%
Distribution Frequency Annually
Distribution Calendar

Fund Prices

As of 10/16/17
NAV Price
Net Asset Value $13.76 Closing Price $13.75
Daily Change -$0.02 -0.17% Daily Change -$0.04 -0.29%

Performance History

Cumulative %

Data as of month end (9/30/17)

Fund NAV Closing Price Index
1 Month 3.45% 3.68% 3.50%
3 Months 17.71% 17.65% 17.89%
6 Months 21.20% 20.91% 21.26%
Since Inception 12.77% 13.13% 18.16%

Avg Annualized %

Data as of month end (9/30/17)

Fund NAV Closing Price Index
1 Year 25.10% 25.14% 25.31%
3 Years -2.14% -1.95% -1.96%
5 Years 1.36% 1.49% 1.87%
Since Inception 1.76% 1.81% 2.45%

Avg Annualized %

Data as of quarter end (9/30/17)

Fund NAV Closing Price Index
1 Year 25.10% 25.14% 25.31%
3 Years -2.14% -1.95% -1.96%
5 Years 1.36% 1.49% 1.87%
Since Inception 1.76% 1.81% 2.45%

The Fund's name, investment objective and investment strategies changed effective July 15, 2014. Fund performance prior to July 15, 2014, will reflect the investment objective and strategies of the Fund when it was the Global FTSE Norway 30 ETF. The Hybrid Norway Index (noted as "Index" above in the chart) consists of the FTSE Norway 30 Index from the inception of the Fund through July 14, 2014, and the MSCI Norway IMI 25/50 Index going forward.

Cumulative return is the aggregate amount that an investment has gained or lost over time. Annualized Return is the average return gained or lost by an investment each year over a given time period.

The performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than their original cost and current performance may be lower or higher than the performance quoted.

Fund Characteristics As of 10/16/17

Return on Equity 7.90%
Average Market Cap $4,531.00 M
2016 2017
Price-to-earnings 27.31 19.19
Price-to-book value 1.54 1.50

Source: AltaVista Research, LLC

Fund Risk Stats As of 10/16/17

Versus Beta
S&P 500 0.81
MSCI Emg. Mkts 0.82
Standard Deviation 18.90%

Source: AltaVista Research, LLC

Top 10 Holdings

As of 10/16/17
Net Assets % Name Market Price ($) Shares Held Market Value ($)
15.74 STATOIL ASA 20.56 1,447,716 29,770,483.03
12.79 DNB ASA 19.64 1,232,362 24,200,745.62
10.35 TELENOR ASA 20.88 937,976 19,585,787.99
6.13 NORSK HYDRO ASA 7.90 1,468,090 11,602,730.88
4.90 YARA INTERNATIONAL ASA 47.01 197,023 9,262,790.35
4.50 MARINE HARVEST 20.74 409,917 8,502,236.45
4.42 ORKLA ASA 10.75 776,924 8,352,908.74
3.45 SUBSEA 7 SA 17.16 380,324 6,527,862.84
2.96 STOREBRAND ASA 8.47 659,988 5,592,834.83
2.71 GJENSIDIGE FORSIKRING ASA 18.17 282,208 5,126,628.30
Holdings are subject to change.

Shares are bought and sold at market price (not NAV) and are not individually redeemed from the Fund. Brokerage commissions will reduce returns. Global X NAVs are calculated using prices as of 4:00 PM Eastern Time. The closing price is the Mid-Point between the Bid and Ask price as of the close of exchange. Indices are unmanaged and do not include the effect of fees, expenses or sales charges. One cannot invest directly in an index.

Since the Fund’s shares typically do not trade in the secondary market until several days after the Fund’s inception, for the period from inception to the first day of secondary market trading in shares, the NAV of the Fund is used to calculate market returns.

Carefully consider the fund’s investment objectives, risks, and charges and expenses. This and other information can be found in the fund’s prospectus. Please read the prospectus carefully before investing.

Global X Management Company LLC serves as an advisor to Global X Funds. The Funds are distributed by SEI Investments Distribution Co. (SIDCO), which is not affiliated with Global X Management Company LLC. Global X Funds are not sponsored, endorsed, issued, sold or promoted by Solactive AG, FTSE, Standard & Poors, NASDAQ, Indxx, or MSCI nor do these companies make any representations regarding the advisability of investing in the Global X Funds. Neither SIDCO nor Global X is affiliated with Solactive AG, FTSE, Standard & Poors, NASDAQ, Indxx, or MSCI.

Investing involves risk, including the possible loss of principal. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, or from economic or political instability in other nations. Securities focusing on a single country may be subject to higher volatility.

High short-term performance of the fund is unusual and investors should not expect such performance to be repeated.