If we look at top holdings in GXF, we see three top names from EWD among the top five holdings: 2) Nordea Bank AB (6.56%), 3) Hennes & Mauritz AB Class B (6.35%), and 4) LM Ericsson Telephone Company ADR Class B (5.86%). Thus, it is fair to say that the Nordic region is dependent on continued momentum in Sweden, at least as far as these ETFs are concerned.
Global X FTSE Nordic Region ETF
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