EFNL holdings and overlap
iShares MSCI Finland ETF (EFNL) holds 33 positions in its iShares file of 2026-10-27. Its three largest are Nordea Bank (NDAFI.FI) at 18.63%, Nokia (NOKIA.FI) at 15.48% and Sampo (SAMPO.FI) at 8.21%, and its ten largest make up 74.5% of the fund.
In its iShares file of 2026-10-27, EFNL is 26.8% financials, 15.5% technology and 14.0% industrials by sector (no sector found for 20.3%), with none of it in mega-cap tech or in the ten largest US companies by market value. By country, 99.5% of EFNL is in Finland.
What does EFNL hold, as of its issuer file of 2026-10-27?
Nordea Bank is 18.63% of EFNL on its own, against a median largest position of 10.9% across the 25 Europe funds with a page here. The position EFNL carries furthest above that group is Nokia at 15.48% of the fund, a company the median fund in that group does not hold at all.
| Rank | Company | Weight | Weight bar |
|---|---|---|---|
| 1 | NDAFI.FI Nordea Bank | 18.63% | |
| 2 | NOKIA.FI Nokia | 15.48% | |
| 3 | SAMPO.FI Sampo | 8.21% | |
| 4 | KNEBV.FI Kone | 5.16% | |
| 5 | UPM.FI Upm-Kymmene | 4.77% | |
| 6 | METSO.FI Metso Corporation | 4.69% | |
| 7 | ORNBV.FI Orion | 4.56% | |
| 8 | FORTUM.FI Fortum | 4.55% | |
| 9 | NESTE.FI Neste | 4.27% | |
| 10 | WRT1V.FI Wartsila | 4.14% | |
| 11 | KESKOB.FI Kesko | 3.01% | |
| 12 | STERV.FI Stora Enso | 2.49% | |
| 13 | KCR.FI Konecranes | 2.31% | |
| 14 | ELISA.FI Elisa | 2.05% | |
| 15 | VALMT.FI Valmet Corp | 1.77% | |
| 16 | MANTA.FI Mandatum | 1.32% | |
| 17 | HUH1V.FI Huhtamaki | 1.27% | |
| 18 | TIETO.FI Tieto | 1.04% | |
| 19 | OUT1V.FI Outokumpu | 0.99% | |
| 20 | TYRES.FI Nokian Renkaat | 0.97% | |
| 21 | HIAB.FI Hiab Corporation | 0.93% | |
| 22 | PUUILO.FI Puuilo | 0.91% | |
| 23 | KEMIRA.FI Kemira | 0.91% | |
| 24 | KALMAR.FI Kalmar Corporation | 0.83% | |
| 25 | LUMO.FI Lumo Homes | 0.71% | |
| 26 | BITTI.FI Bittium | 0.64% | |
| 27 | YIT.FI Yit | 0.58% | |
| 28 | HARVIA.FI Harvia | 0.57% | |
| 29 | QTCOM.FI QT Group | 0.52% | |
| 30 | METSB.FI Metsa Board | 0.44% | |
| 31 | FIA1S.FI Finnair | 0.4% | |
| 32 | KEMPOWR.FI Kempower | 0.28% | |
| 33 | TTALO.FI Terveystalo | 0.07% |
The most recent file iShares has published for EFNL is dated 2026-10-27, 1 day before these prices, which is the median for the iShares ETFs covered here. Every one of the 33 positions EFNL holds, with its weight, is in the fund's JSON file. See the other 44 ETFs with a page here that hold NDAFI.FI, and how their weights compare with the 18.63% EFNL gives it.
Category: Europe, set by TickerInside from the ETF's own latest file. In its file of 2026-10-27, 100% of its stocks with a known country are in Finland, which this site counts in Europe. How categories are set.
https://tickerinside.com/api/v1/fund/efnl.jsonhttps://tickerinside.com/api/v1/fund/efnl.csv=IMPORTDATA("https://tickerinside.com/api/v1/fund/efnl.csv")If your sheet uses a decimal comma: =IMPORTDATA("https://tickerinside.com/api/v1/fund/efnl.csv"; ","; "en_US")curl -s https://tickerinside.com/api/v1/fund/efnl.jsonHow much money went into or out of EFNL?
On the close of Friday, October 23, 2026, $2.5 million went into EFNL, 0.64% of its assets, as it created shares. Over its last 5 closes, a net inflow of $2.5 million.
From EFNL's own holdings files. Every ETF's latest flows.
How is EFNL split by sector and country?
| Sector | Weight | Weight bar |
|---|---|---|
| Financials | 26.8% | |
| Technology | 15.5% | |
| Industrials | 14.0% | |
| Materials | 8.2% | |
| Utilities | 4.5% | |
| Energy | 4.3% | |
| Consumer staples | 3.0% | |
| Communication services | 2.0% | |
| Real estate | 0.7% | |
| No sector found | 20.3% |
| Country | Weight | Weight bar |
|---|---|---|
| Finland | 99.5% |
From its iShares file of 2026-10-27. How these are measured.
What did EFNL hold in its SEC reports since 2019?
In EFNL's SEC filings, its largest position went from Kone OYJ B (KNEBV.FI) at 12.65% on 2019-11-30 to Nokia OYJ (NOKIA.FI) at 21.72% on 2026-05-31, across 27 quarterly reports.
| Report | Positions | Largest | Top 10 |
|---|---|---|---|
| 2019-11-30 | 34 | KNEBV.FI 12.65% | 70.4% |
| 2020-11-30 | 35 | KNEBV.FI 12.75% | 68.2% |
| 2021-11-30 | 43 | NOKIA.FI 14.07% | 68.2% |
| 2022-11-30 | 46 | NOKIA.FI 12.96% | 67.8% |
| 2023-11-30 | 37 | SAMPO.FI 10.19% | 64.5% |
| 2024-11-30 | 36 | NDAFI.FI 16.76% | 65.8% |
| 2025-11-30 | 35 | NDAFI.FI 20.43% | 71.2% |
| 2026-05-31 | 35 | NOKIA.FI 21.72% | 73.7% |
The first report, then the last of each year, of the 27 reports EFNL filed on SEC Form N-PORT from 2019-11-30 to 2026-05-31, each company under its ticker today. Every position of every report is in its quarterly file, and at any date at /api/v1/history/efnl/{date}.json. How these are read.
What does EFNL share with other ETFs?
The ETF nearest to EFNL is WOOD: the two hold 6.8% of their weight in common, in the 2 companies both own, and 7.3% of EFNL itself is also held there. EFNL barely overlaps any covered ETF.
| ETF | Overlap by weight | Of EFNL held there | Of that ETF in EFNL | Companies in both | Overlap bar |
|---|---|---|---|---|---|
| WOOD | 6.8% | 7.3% | 8.5% | 2 | |
| NLR | 4.5% | 4.6% | 5.7% | 1 | |
| EZU | 3.3% | 82.5% | 3.3% | 13 | |
| HEZU | 3.2% | 82.5% | 3.3% | 13 | |
| EFAV | 2.7% | 58.7% | 2.8% | 7 | |
| EUFN | 2.4% | 27.0% | 2.4% | 2 | |
| ISVL | 2.3% | 7.8% | 2.3% | 7 | |
| FEZ | 2.2% | 34.3% | 2.2% | 2 | |
| IEUS | 2.2% | 17.5% | 2.3% | 20 | |
| WDIV | 1.9% | 3.8% | 2.0% | 2 | |
| IEUR | 1.8% | 98.7% | 1.8% | 29 | |
| PABD | 1.8% | 62.0% | 1.8% | 8 |
NLR's holdings are from its SEC Form N-PORT for the period ended 2026-06-30, filed 2026-08-26. The other ETFs' holdings are from their issuers' latest files. Check EFNL against any ETF in the ETF overlap calculator · how overlap is measured.
What adds something different to EFNL?
USRT shares 0% of weight with EFNL and its weekly returns correlate with it at 0.34 over three years. The table lists the covered ETFs with the least in common with EFNL, least shared weight first and, among equals, lowest correlation.
| ETF | Name | Overlap by weight | Correlation, 3y | Companies in both |
|---|---|---|---|---|
| USRT | iShares Core U.S. REIT ETF | 0.0% | 0.34 | 0 |
| IYR | iShares U.S. Real Estate ETF | 0.0% | 0.36 | 0 |
| SOXX | iShares Semiconductor ETF | 0.0% | 0.43 | 0 |
| USMV | iShares MSCI USA Min Vol Factor ETF | 0.0% | 0.43 | 0 |
| REET | iShares Global REIT ETF | 0.0% | 0.43 | 0 |
| IJR | iShares Core S&P Small-Cap ETF | 0.0% | 0.44 | 0 |
| THRO | iShares U.S. Thematic Rotation Active ETF | 0.0% | 0.46 | 0 |
| IJH | iShares Core S&P Mid-Cap ETF | 0.0% | 0.48 | 0 |
Cost, returns and risk
| Expense ratio | 0.53% |
|---|---|
| Dividend yield | 1.02% |
| Total return, 1 year | 12.5% |
| Total return, 3 years cumulative | 72.8% |
| Total return, 5 years cumulative | 26.4% |
| Volatility, annualised | 16.6% |
| Worst fall, 3 years | -14.4% |
| Beta against SPY, 3 years of weekly returns | 0.63 |
| Weight in the ten largest positions | 74.5% |
| Largest single position | 18.6% |
| Assets under management | $0.4B |
Expense ratio, yield and assets are reference data (the expense ratio from EFNL's SEC filing of 2025-12-19); the weight in the ten largest positions and the largest single position are from the issuer file of 2026-10-27; every other figure is computed here from weekly closes.
How it moves with the market
| Against | Correlation, 3 years | Covariance, annualised, in percent squared |
|---|---|---|
| SPY | 0.53loosely linked | 121 |
| QQQ | 0.45loosely linked | 146 |
Weekly total returns. What the bands mean · why the covariance is printed.
Year by year
| Year | Total return |
|---|---|
| 2026 | 6.8% |
| 2025 | 53.6% |
| 2024 | -5.3% |
| 2023 | -0.1% |
| 2022 | -17.3% |
One year
Where to go next
- EIRL, iShares MSCI Ireland ETF
- ENOR, iShares MSCI Norway ETF
- EPOL, iShares MSCI Poland ETF
- EUFN, iShares MSCI Europe Financials ETF
- Run a portfolio x-ray to see what EFNL carries once you look through it
- Compare EFNL against any other ETF in the builder
Holdings from the most recent file iShares has published, dated 2026-10-27. Prices through 2026-10-28. How every figure here is produced. Measurements, not investment advice.
Cite this page
TickerInside, iShares MSCI Finland ETF (EFNL), holdings from the issuer's file of 2026-10-27, https://tickerinside.com/etf/efnl/, CC BY 4.0
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