IVV vs NORW
iShares Core S&P 500 ETF vs Global X MSCI Norway ETF
Quick Verdict
IVV has a lower expense ratio. NORW delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | IVV | NORW | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.50% | |
| AUM | $907.0B | $89M | |
| Dividend Yield | 1.10% | 7.21% | |
| Holdings | 508 | 60 | |
| YTD Return | +12.28% | +28.64% | |
| 1Y Return | +20.94% | +36.09% | |
| 3Y Return (annualized) | +21.81% | +22.18% | |
| 5Y Return (annualized) | +13.05% | +7.90% | |
| Volatility (annualized) | 15.1% | 19.1% | |
| Max Drawdown | -56.5% | -42.6% | |
| Fund Family | iShares by BlackRock (US) | Global X by mirae Asset | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | Nov 9, 2010 |
IVV vs NORW Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and Global X MSCI Norway ETF (NORW) is a ETF from Global X by mirae Asset. Over the past year IVV returned +20.94% while NORW returned +36.09%. Year to date, IVV is up 12.28% versus a gain of 28.64% for NORW.
Over three years, IVV compounded at +21.81% per year against +22.18% for NORW; over five years the annualized figures are +13.05% and +7.90% respectively. Across the full 17-year window we track, NORW has the edge at +7.12% annualized vs +6.98%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
NORW has been the more volatile fund, with annualized monthly volatility of 19.1% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -42.6% for NORW. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.69. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while NORW charges 0.50%. On a $10,000 position that is $3 vs $50 annually, a gap of $47 per year that compounds over a long holding period. On income, IVV currently yields 1.10% against 7.21% for NORW.
Holdings Overlap
IVV and NORW share 0 holdings out of 565 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or NORW?
IVV has an expense ratio of 0.03% while NORW charges 0.50%. IVV is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, IVV or NORW?
Over the past year IVV returned +20.94% vs +36.09% for NORW, so NORW leads on 1-year performance. Over the longest common window we track (17 years), IVV annualized +6.98% vs +7.12% for NORW. Past performance does not guarantee future results.
Which is riskier, IVV or NORW?
NORW has been the more volatile fund at 19.1% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs NORW -42.6%.
Should I hold both IVV and NORW?
IVV and NORW have a monthly-return correlation of 0.69, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and NORW?
IVV and NORW share 0 common holdings with a 0.0% weight overlap. Combined, they hold 565 unique securities.
Which pays a higher dividend, IVV or NORW?
IVV yields 1.10% while NORW yields 7.21%, so NORW currently pays the higher dividend yield.
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