ENOR
iShares MSCI Norway ETF
iShares MSCI Norway Capped Investable Market Index Fund is an exchange-traded fund incorporated in the USA. The fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Norway IMI 25/50 Index.
International
EQUITY
Passive
MANAGEMENT STYLE
$ 141.0 M
ASSETS UNDER MGMT
53 bp
EXPENSES
Fund Basics
| Inception date | Jan 23, 2012 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Semi-annual |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| STATOILHYDRO ASA | 13.2 % |
| DNB BANK ASA | 12.0 % |
| KONGSBERG GRUPPEN | 8.1 % |
| NORSK HYDRO ASA | 6.6 % |
| DET NORSKE OLJESELSKAP ASA | 4.7 % |
| MARINE HARVEST | 4.5 % |
| YARA INTERNATIONAL ASA | 4.0 % |
| TELENOR ASA | 3.8 % |
| ORKLA ASA | 3.8 % |
| STOREBRAND ASA | 3.2 % |
Constituent Breakdown
| Number of holdings | 56 |
| Herfindahl-Hirschman Index | 570 |
| Wgt avg mkt cap (mns) | $19,951 |
| Large cap (>$10bn) | 55.5% |
| Mid cap ($2-10bn) | 19.5% |
| Small cap (<$2bn) | 10.6% |
| Developed mkts. | 88.6% |
| Emerging mkts. | 0.0% |
Sector Breakdown
Country Exposure
 |
NORWAY | 82.9 % |
 |
BRITAIN | 3.1 % |
 |
BERMUDA | 1.1 % |
 |
FAROE ISLANDS | 1.0 % |
 |
DENMARK | 0.6 % |
Historical Performance
Standardized Performance (as of 03/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 28.4% | 42.4% | 25.4% | 16.7% | 5.9% | 6.5% | -- | 2.6% |
| Dividend Yield | 0.0% | 4.3% | 5.6% | 5.7% | 4.4% | 3.7% | -- | 3.3% |
| Total Returns | 28.4% | 46.7% | 31.1% | 22.4% | 10.3% | 10.3% | -- | 5.9% | Ann. Volatility | 22.0% | 23.1% | 20.3% | 19.9% | 22.3% | 24.1% | -- | 23.8% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.78 | 41% |
| MSCI EAFE | 0.93 | 51% |
| MSCI Emg Mkts | 0.70 | 37% |
Liquidity Measures
| Avg. volume (000) | 199 |
| ADV traded (mns) | $7 |
| Turnover | 5.2% |
| Avg. Bid/Ask (% of price) | 0.39% |
Technical Indicators
| 30d moving avg. (EMA) | $35.51 |
| Relative strength (RSI) | 63 |
| MACD/Signal | 0.83/0.76 |
| Bollinger Bands (Upper/Lower) | $37.97/$33.93 |
| Short interest (% of AUM) | 0.7% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ENOR |
Expenses vs. ENOR |
ALTAR Score™ vs. ENOR |
|---|---|---|---|---|
| NORW | Global X MSCI Norway ETF | 88.6% | -3 bp | +0.2% |
| JIVE | JPMorgan International Value ETF | 16.4% | +2 bp | +1.5% |
Risk and Returns: ENOR vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 4/15/2026
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
7.5%
ALTAR SCORE™
81st
PERCENTILE
SPECULATIVE
ETFRC RATING
There are 346 funds in the International Equity category with an average
ALTAR Score™ of 6.2% and a standard deviation
of 1.5%. ENOR's ALTAR Score™ is approximately 0.9 standard
deviations above the category average. This places ENOR in the 81st percentile
among funds in the category.
Sell-Side Consensus
$35.91
PRICE TARGET
-3.2%
UPSIDE