# Xtrackers MSCI Nordic UCITS ETF (XDN0)

**Page:** https://fundology.uk/fund/xdn0 · ISIN IE00B9MRHC27

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, XDN0 (Xtrackers MSCI Nordic UCITS ETF, ISIN IE00B9MRHC27) closed at £46.65 on the London Stock Exchange. Its ongoing charge is 0.30% a year (about £30 on £10,000). Over the five years to 13/11/2026 its total return was +22.4%, or −4.5% after UK CPIH inflation.

## Summary

Xtrackers MSCI Nordic UCITS ETF is an exchange-traded fund (ETF) from Xtrackers, launched in 2013. It tracks the MSCI Nordic Countries. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.3% a year — about £30 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year.

Latest close: **£46.65** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | XDN0 |
| ISIN | IE00B9MRHC27 |
| Category | European shares |
| Type | ETF |
| Provider | Xtrackers |
| Tracks | MSCI Nordic Countries |
| Income | Distributing |
| Ongoing charge | 0.30% a year (£30 per £10,000) |
| Fund size | £887m |
| Launched | 2013 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 04/09/2013 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +11.72% | +7.77% | income reinvested |
| 3 years | +27.34% | +15.05% | income reinvested |
| 5 years | +22.38% | -4.48% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Xtrackers MSCI Nordic UCITS ETF in pounds (price only, income paid out not included): 2022 −10.2%, 2023 +10.9%, 2024 −6.5%, 2025 +7.6%; 2026 to 13/11/2026 +6.3%. Returns of Xtrackers MSCI Nordic UCITS ETF in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +6.6%; to 30/09/2025: −6.0%; to 30/09/2024: +13.6%; to 30/09/2023: +14.9%; to 30/09/2022: −17.0%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -10.2% | -17.8% | Price |
| 2023 | +10.9% | +6.5% | Price |
| 2024 | -6.5% | -9.7% | Price |
| 2025 | +7.6% | +3.9% | Price |
| 2026 to 13/11/2026 | +6.3% | +2.9% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 13.14% | -9.09% |
| 3 years | 15.18% | -23.48% |
| 5 years | 16.55% | -23.76% |

## Largest fall

Volatility of Xtrackers MSCI Nordic UCITS ETF in pounds, annualised from weekly returns to 13/11/2026: 13.1% over 1 year, 15.2% over 3 years, 16.5% over 5 years. Largest fall in the price of Xtrackers MSCI Nordic UCITS ETF since November 2021, in pounds: −23.5% from 07/06/2024 to 04/04/2025. The lowest 12-month return of Xtrackers MSCI Nordic UCITS ETF in pounds (price only, income paid out not included) since January 2021 was −20.0% (12 months to 21/10/2022); the highest was +25.5% (12 months to 21/06/2024). On 13/11/2026 the price of Xtrackers MSCI Nordic UCITS ETF was 4.6% below its highest weekly close since November 2021 (07/06/2024), in pounds.

## Charges compared with similar funds

Ongoing charge of Xtrackers MSCI Nordic UCITS ETF 0.30% a year. Compared on 14/11/2026, 63 of the 242 other European share funds charge more, 18 the same and 161 less (share classes counted once).

## Funds tracking the same index

2 funds track MSCI Nordic Countries, this one included and share classes counted once; their ongoing charges range from 0.30% to 0.35% a year (13/11/2026).

| Fund | Ongoing charge | 1 year | 3 years | 5 years |
|---|---|---|---|---|
| Xtrackers MSCI Nordic UCITS ETF (this fund) | 0.30% | +11.7% | +27.3% | +22.4% |
| Xtrackers MSCI Nordic UCITS ETF GBP Hedged Acc | 0.35% | +15.6% | — | — |

Returns are as reported, in pounds, income reinvested unless marked "(price)".

## Charges & eligibility

- Ongoing charges figure (OCF): **0.30%** per year (as of 13/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 15/11/2026, XDN0 holds 84 positions, according to its published holdings. The largest is Novo Nordisk · Class B at 8.70% of the fund; the ten largest make up 40.6%.

### Top holdings

Largest positions (as of 15/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Novo Nordisk · Class B | [NOVO_B](https://fundology.uk/stock/NOVO_B) | 8.70% |
| 2 | Spotify Technology | [SPOT](https://fundology.uk/stock/SPOT) | 5.81% |
| 3 | Investor · Class B | [INVE_A](https://fundology.uk/stock/INVE_A) | 4.99% |
| 4 | Nordea Bank Abp | [NDA_FI](https://fundology.uk/stock/NDA_FI) | 3.83% |
| 5 | Volvo · Class B | [VOLV_A](https://fundology.uk/stock/VOLV_A) | 3.33% |
| 6 | Atlas Copco · Class A | [ATCO_A](https://fundology.uk/stock/ATCO_A) | 3.23% |
| 7 | Nokia | [NOKIA](https://fundology.uk/stock/NOKIA) | 2.81% |
| 8 | DSV | [DSV](https://fundology.uk/stock/DSV) | 2.78% |
| 9 | Assa Abloy · Class B | [ASSA_B](https://fundology.uk/stock/ASSA_B) | 2.55% |
| 10 | Sandvik | [SAND](https://fundology.uk/stock/SAND) | 2.53% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By sector

Added up from the fund’s published holdings, as of 15/11/2026.

| Sector | Weight |
|---|---|
| Industrials | 32.0% |
| Financials | 23.5% |
| Health Care | 13.0% |
| Communication Services | 8.6% |
| Information Technology | 6.2% |
| Materials | 5.3% |
| Consumer Staples | 4.0% |
| Energy | 3.8% |
| Other sectors | 3.2% |
| Not classified | 0.4% |

### By country

Added up from the fund’s published holdings, as of 15/11/2026.

| Country | Weight |
|---|---|
| Sweden | 44.8% |
| Denmark | 24.1% |
| Finland | 16.0% |
| Norway | 8.8% |
| Luxembourg | 5.8% |
| Brazil | 0.5% |

### By type of asset

Added up from the fund’s published holdings, as of 15/11/2026.

| Type of asset | Weight |
|---|---|
| Equity | 99.6% |
| Cash and money market | 0.4% |

The 81 holdings on record (of 84 reported): https://fundology.uk/fund/xdn0/holdings

## Questions people ask

**What is the ongoing charge of XDN0?**

The ongoing charge of XDN0 is 0.30% a year — about £30 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Xtrackers MSCI Nordic UCITS ETF 0.30% a year. Compared on 14/11/2026, 63 of the 242 other European share funds charge more, 18 the same and 161 less (share classes counted once).

**What does XDN0 track?**

XDN0 tracks the MSCI Nordic Countries.

**Is XDN0 accumulating or distributing?**

XDN0 is distributing: income is paid out to holders as cash, usually a few times a year. It pays out semi-annual.

**What is the ISIN of XDN0?**

The ISIN of XDN0 is IE00B9MRHC27. An ISIN identifies one exact share class of a fund; XDN0 is its ticker on the London Stock Exchange.

**What does XDN0 hold?**

As of 15/11/2026, XDN0 holds 84 positions, according to its published holdings. The largest is Novo Nordisk · Class B at 8.70% of the fund; the ten largest make up 40.6%. Its ten largest holdings are Novo Nordisk · Class B (8.70%), Spotify Technology (5.81%), Investor · Class B (4.99%), Nordea Bank Abp (3.83%), Volvo · Class B (3.33%), Atlas Copco · Class A (3.23%), Nokia (2.81%), DSV (2.78%), Assa Abloy · Class B (2.55%) and Sandvik (2.53%).

**What were XDN0’s returns in each of the last five years?**

Calendar-year returns of XDN0 in pounds (price only, income paid out not included): 2022 −10.2%, 2023 +10.9%, 2024 −6.5%, 2025 +7.6%; 2026 to 13/11/2026 +6.3%. Past performance is not a guide to future returns.

**How has XDN0 done after inflation?**

Over the five years to 13/11/2026 XDN0’s total return was +22.4%, or −4.5% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at Xtrackers (DWS)](https://etf.dws.com/en-gb/IE00B9MRHC27-msci-nordic-ucits-etf-1d/)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.