Oil Buoys Norway ETF's Ascent

“The Global X MSCI Norway ETF seeks to provide investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Norway IMI 25/50 Index,” according to Global X.

“Norway is a buy and appears to be on the move right now. Norway ticks all the boxes with regards sectoral flow analysis,” according to a Seeking Alpha analysis of Norwegian economics. “The government sector is beginning to net add to the private sector in a planned explicit way as a matter of public policy. It could not net add before as this would have been inflationary.”

ENOR, the iShares rival to NORW, allocates 30.8% of its lineup to energy stocks and almost 22% to Norwegian financial services names. Statoil is also ENOR’s largest holding at a weight of 17.5%.

“Norway has had the foresight to collect a large part of the export surplus and store it away as a sovereign wealth fund so that in effect the finite oil wealth is not lost once extracted, sold and used. The oil wealth is maintained as an income producing asset with revenue streams in perpetuity long after the oil streams flow no more,” according to Seeking Alpha.