Global X FTSE Nordic Region ETF gets four stars from Morningstar
The New York based Global X Funds FTSE Nordic Region ETF has received a four star rating from Morningstar after reaching its third anniversary.
The fund is the only ETF in the US offering investors access to the biggest listed companies in the Nordic region, comprising the markets of Norway, Sweden, Denmark and Finland. The ETF has returned 30.35% over three years, against 15.66% by the MSCI Europe index.
Global X said that Sweden, Finland and Denmark ranked third, fourth and eighth respectively fro global competiveness according to the World Economic Forum’s recent Global Competitiveness Index, out of 140 economies measured.
The sovereign ratings have all four countries on AAA credit ratings from S&P, while the BlackRock Sovereign Risk Index puts Norway, Sweden and Finland in the top five, with Denmark in 12th spot.
Bruno del Ama, chief executive officer at Global X Funds said: “In our view, the Nordic region offers a stable fiscal environment and a unique economic model that has historically produced higher returns than its European neighbors.”
Although US based, Global X Funds research analyst Alex Ashby recently told InvestmentEurope that the firm was considering developing European distribution of its Nordic Region and FTSE Norway 30 ETF products.