4 min readBy Beqa Bumbeishvili ETF Insider
How does the NORW ETF work?
The NORW ETF is a specialized investment fund that focuses on a specific sector. This exchange-traded fund offers investors exposure to a range of companies in this sector.
The issuer of the Global X MSCI Norway ETF (NORW) is Global X Management Company LLC, the investment adviser for the Fund. NORW seeks to track the performance of the MSCI Norway IMI 25/50 Index, which includes a diverse range of securities from the broad Norway equity universe. The index is designed to represent the performance of Norwegian companies based on size, liquidity, and other criteria, offering investors exposure to this specific market segment. Global X Management Company LLC employs a passive indexing approach to achieve the fund's investment objective, aiming to replicate the index's composition closely. Investors looking to gain exposure to the Norwegian equity market may find NORW to be a suitable investment option.
While the primary focus of the Global X MSCI SuperDividend Norway ETF (NORW) may not revolve around dividends, it aims to mirror the dividend distribution of its underlying MSCI Norway IMI 25/50 Index. Dividends from NORW are typically distributed in accordance with the dividend policies and performances of the companies within the index. It's important to note that NORW primarily invests in companies economically tied to Norway and may lend securities representing up to one-third of its total assets, providing investors with the potential for both capital appreciation and dividend income.
Tracking the MSCI Norway IMI 25/50 Index is the primary objective of the Global X MSCI SuperDividend Norway ETF (NORW). This ETF seeks to replicate the performance of the underlying index, which comprises securities from the broad Norway equity universe, as defined by MSCI. NORW invests at least 80% of its total assets in these securities, including American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs) based on the index components, as well as companies economically tied to Norway. The index follows a rules-based methodology, with components weighted according to free-float adjusted market capitalization, ensuring diversification and minimizing concentration risk. NORW's passive indexing approach aims to closely track the MSCI Norway IMI 25/50 Index, making it a suitable choice for investors seeking exposure to the Norwegian equity market.
The correlation aspect of the Global X MSCI SuperDividend Norway ETF (NORW) is vital in understanding its performance in relation to the Norwegian equity market. Given that NORW tracks the MSCI Norway IMI 25/50 Index, its correlation with the Norwegian market is expected to be quite strong. Investors often use NORW as a tool for gaining exposure to the Norwegian market, and its high correlation can be advantageous for those seeking precise market representation. To delve deeper into NORW's correlations with other assets or sectors, investors can utilize ETF Insider's web app, which provides comprehensive data and visualizations to uncover potential overlaps and correlations within the Norwegian market.
The Global X MSCI Norway ETF (NORW) primarily focuses on the Norwegian equity market. This ETF invests at least 80% of its total assets in securities tied to Norway's economy, offering investors exposure to the country's economic performance. As of its latest data, NORW is concentrated in the oil, gas, and consumable fuels industry, with significant exposure to the energy sector, making it suitable for those looking to invest in Norway's resource-rich economy. However, potential investors should be aware that NORW's non-diversified classification may result in a larger percentage of its assets being concentrated in a smaller number of issuers, increasing potential risks associated with specific sectors or industries.
The exposure characteristic of the Global X MSCI Norway ETF (NORW) is centered around providing investors access to the broad equity universe of Norway. NORW invests at least 80% of its total assets in securities of the MSCI Norway IMI 25/50 Index, ADRs, and GDRs based on the securities in the Underlying Index. This approach offers exposure to various sectors, with significant emphasis on the oil, gas, and consumable fuels industry, as of December 31, 2022. Investors seeking exposure to Norway''s economic landscape can use NORW to capture the performance of this distinct market.
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