NORW vs VOO
Global X MSCI Norway ETF vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. NORW delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | NORW | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.50% | 0.03% | |
| AUM | $89M | $997.4B | |
| Dividend Yield | 7.21% | 1.08% | |
| Holdings | 60 | 509 | |
| YTD Return | +29.27% | +13.20% | |
| 1Y Return | +38.83% | +21.62% | |
| 3Y Return (annualized) | +22.40% | +22.16% | |
| 5Y Return (annualized) | +8.22% | +13.42% | |
| Volatility (annualized) | 19.1% | 14.1% | |
| Max Drawdown | -42.6% | -34.3% | |
| Fund Family | Global X by mirae Asset | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Nov 9, 2010 | Sep 7, 2010 |
NORW vs VOO Performance
Global X MSCI Norway ETF (NORW) is a ETF from Global X by mirae Asset and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year NORW returned +38.83% while VOO returned +21.62%. Year to date, NORW is up 29.27% versus a gain of 13.20% for VOO.
Over three years, NORW compounded at +22.40% per year against +22.16% for VOO; over five years the annualized figures are +8.22% and +13.42% respectively. Across the full 16-year window we track, VOO has the edge at +13.51% annualized vs +7.15%. 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 14.1% for VOO. 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 -42.6% for NORW and -34.3% for VOO. 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
NORW charges 0.50% per year while VOO charges 0.03%. On a $10,000 position that is $50 vs $3 annually, a gap of $47 per year that compounds over a long holding period. On income, NORW currently yields 7.21% against 1.08% for VOO.
Holdings Overlap
NORW and VOO 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, NORW or VOO?
NORW has an expense ratio of 0.50% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $47 per year of difference.
Which performed better, NORW or VOO?
Over the past year NORW returned +38.83% vs +21.62% for VOO, so NORW leads on 1-year performance. Over the longest common window we track (16 years), NORW annualized +7.15% vs +13.51% for VOO. Past performance does not guarantee future results.
Which is riskier, NORW or VOO?
NORW has been the more volatile fund at 19.1% annualized versus 14.1% for VOO. Worst drawdown: NORW -42.6% vs VOO -34.3%.
Should I hold both NORW and VOO?
NORW and VOO have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between NORW and VOO?
NORW and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 565 unique securities.
Which pays a higher dividend, NORW or VOO?
NORW yields 7.21% while VOO yields 1.08%, so NORW currently pays the higher dividend yield.
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