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Xtrackers MSCI Nordic UCITS ETF 2C GBP Hedged

Xtrackers · IE000MF9SZ46

Xtrackers MSCI Nordic UCITS ETF 2C GBP Hedged is an exchange-traded fund (ETF) from Xtrackers, traded under the ticker XMN2 (ISIN IE000MF9SZ46). In a single purchase you get a diversified basket of holdings rather than a stake in just one business. In plain terms it is about owning small slices of companies, so you share in their growth when they…

· Tracks the MSCI Nordic Countries Index index ?

Equity ?Accumulating ?Physical ?Ireland ?

Mid-range feeReinvests dividendsOwns the shares directlyEuropeConcentrated in a few names

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Xtrackers funds Domiciled in Ireland Accumulating Physically replicated Europe stocks Yearly fee under 0.5%

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Fund size (AUM) ?

€0

Risk level (SRI) ?

6 / 7 · High

1-year return ?

+16.1%

Price Return · to 2026-07-17

Yearly fee (TER) ?

0.35%

All-in cost ≈ 0.35%

About this fund

What you own

The MSCI Nordic Countries Index index is the benchmark this fund aims to copy. By holding it, this fund gives you a stake in around 90 companies across Europe in a single purchase.

Dividends

The fund automatically reinvests dividends back into itself, so your holding grows without cash payouts.

Rolling the dividends straight back in means your money compounds automatically, with nothing for you to reinvest by hand. The flip side is there is no cash income; the growth simply shows up as a higher fund value. Note that reinvested dividends can still be taxable in some countries even though you never receive the cash — the rules depend on where you live.

How it works

The fund actually buys every share in the index it tracks (full replication).

Owning every holding keeps things transparent — what is in the index is what the fund actually owns. It can be a touch costlier to run for indexes with thousands of tiny positions, since the fund has to buy and maintain them all. There is no swap bank involved, so there is no extra “what if the partner fails” question to weigh.

Cost

0.35%Yearly fee (TER)

0.35%All-in cost

The yearly running cost of the fund, shown as a % of your money. Lower is cheaper.

For example, a 0.20% fee works out at €0.20 a year for every €100 invested — that’s a generic illustration of the mechanic, not this fund’s own fee. It is skimmed quietly from inside the fund a little each day, so you never get a bill — but it drags on your return every year you hold. On a broad index ETF it is usually a small fraction of a percent; the gap between a cheap and a pricey fund looks tiny on day one but compounds over decades, which is why it is worth a glance.

Fund facts

Index tracked ?

MSCI Nordic Countries Index

Replication ?

Physical

Full — buys every share

Regulation ?

UCITS

Yes

Launched

2025

Performance

Growth of £100 invested — both lines start at £100.

Xtrackers MSCI Nordic UCITS ETF 2C GBP Hedged Average MSCI Nordic Countries Index ETF (funds we track) ?

Compared with the average fund tracking the same index — our own data, not the licensed index itself.

YTD+11.0%

1 year+16.1%

How bumpy has it been?

14.3%

Volatility (1y) ?

How much the price swings year to year — lower is calmer.

-21.5%

Worst drop (3y) ?

The biggest fall from a peak over the last three years.

The bigger picture

+12.2%

Since inception

Total growth since launch — about +8.3% a year.

+28.5%

Best 12 months

The strongest one-year stretch on record.

-2.1%

Worst 12 months

The weakest one-year stretch on record.

-21.5%

Worst fall on record ?

It clawed back in about 9 months.

What's inside

By sector ?

Industrials32.5%

Financials22.4%

Health Care13.5%

Technology7.7%

Communication Services7.6%

Materials5.5%

Consumer Staples3.7%

Energy3.3%

Other / not shown3.9%

The 10 biggest holdings make up 40.0% of the fund — the rest is spread across roughly 80 more companies.

Top 10 holdings

#	Company	Weight
1	NOVO NORDISK CLASS B	9.2%
2	SPOTIFY TECHNOLOGY	4.8%
3	INVESTOR CLASS B	4.7%
4	NORDEA BANK	3.9%
5	VOLVO CLASS B	3.5%
6	ATLAS COPCO CLASS A	3.4%
7	NOKIA	3.3%
8	SANDVIK	2.6%
9	DSV	2.5%
10	ASSA ABLOY CLASS B	2.3%

Where to buy this fund

Where you live:

Set from your language & location — change it if it's wrong.

Where it trades

Exchange	Ticker	Currency
LSE	XMN2	GBP	★ Primary
EUR listings
Frankfurt	XMN2	EUR
GBP listings
B3	XMN2L	GBP
E1	XMN2GBX	GBP
E1	XMN2EUR	GBP
EB	XMN2L	GBP
EO	XMN2EUR	GBP
EO	XMN2GBX	GBP
EU	XMN2GBX	GBP
EU	XMN2EUR	GBP
GT	XMN2	GBP
IX	XMN2L	GBP
L1	XMN2L	GBP
L3	XMN2L	GBP
PO	XMN2L	GBP
TH	XMN2	GBP
X1	XMN2EUR	GBP
X1	XMN2GBX	GBP
X2	XMN2GBX	GBP
X2	XMN2EUR	GBP
XA	XMN2EUR	GBP
XA	XMN2GBX	GBP
XF	XMN2EUR	GBP
XF	XMN2GBX	GBP
XG	XMN2GBX	GBP
XG	XMN2EUR	GBP
XH	XMN2EUR	GBP
XH	XMN2GBX	GBP
XJ	XMN2EUR	GBP
XJ	XMN2GBX	GBP
XL	XMN2GBX	GBP
XL	XMN2EUR	GBP
XO	XMN2EUR	GBP
XO	XMN2GBX	GBP
XQ	XMN2EUR	GBP
XQ	XMN2GBX	GBP
XU	XMN2GBX	GBP
XU	XMN2EUR	GBP
XV	XMN2EUR	GBP
XV	XMN2GBX	GBP
XW	XMN2EUR	GBP
XW	XMN2GBX	GBP
XX	XMN2GBX	GBP
XX	XMN2EUR	GBP
XY	XMN2EUR	GBP
XY	XMN2GBX	GBP
XZ	XMN2EUR	GBP
XZ	XMN2GBX	GBP

For serious comparison — full data holdings, percentiles, advanced risk, tilt, flows

Full holdings

As of 2026-07-17 · the fund's own published holdings.

#	Company	Weight
1	NOVO NORDISK CLASS B	9.2%
2	SPOTIFY TECHNOLOGY	4.8%
3	INVESTOR CLASS B	4.7%
4	NORDEA BANK	3.9%
5	VOLVO CLASS B	3.5%
6	ATLAS COPCO CLASS A	3.4%
7	NOKIA	3.3%
8	SANDVIK	2.6%
9	DSV	2.5%
10	ASSA ABLOY CLASS B	2.3%
11	DANSKE BANK	2.2%
12	SKANDINAVISKA ENSKILDA BANKEN CLAS	2.1%
13	VESTAS WIND SYSTEMS	2.0%
14	SWEDBANK CLASS A	2.0%
15	-	1.9%
16	EQUINOR	1.8%
17	ATLAS COPCO CLASS B	1.7%
18	DNB BANK	1.7%
19	SAMPO CLASS A	1.7%
20	ERICSSON CLASS B	1.6%
21	NOVOZYMES CLASS B	1.6%
22	HEXAGON CLASS B	1.4%
23	SAAB CLASS B	1.3%
24	SVENSKA HANDELSBANKEN CLASS A	1.3%
25	GENMAB	1.3%
26	KONE CLASS B	1.3%
27	EPIROC CLASS A	1.1%
28	ALFA LAVAL	1.1%
29	BOLIDEN	1.0%
30	WARTSILA	1.0%
31	ESSITY CLASS B	1.0%
32	NESTE	1.0%
33	EQT	0.9%
34	UPM-KYMMENE	0.9%
35	KONGSBERG GRUPPEN	0.9%
36	METSO CORPORATION	0.8%
37	CARLSBERG CLASS B	0.8%
38	NORSK HYDRO	0.8%
39	AKER BP	0.7%
40	A P MOLLER MAERSK CLASS B	0.7%
41	TELIA COMPANY	0.7%
42	EVOLUTION	0.7%
43	FORTUM	0.7%
44	OERSTED	0.6%
45	ORION CLASS B	0.6%
46	SKF CLASS B	0.6%
47	PANDORA	0.6%
48	TELE2 CLASS B	0.6%
49	MOWI	0.6%
50	SKANSKA CLASS B	0.6%
51	EPIROC CLASS B	0.6%
52	ADDTECH CLASS B	0.6%
53	INDUSTRIVARDEN CLASS C	0.6%
54	COLOPLAST CLASS B	0.6%
55	TRELLEBORG CLASS B	0.6%
56	TELENOR	0.5%
57	SWEDISH ORPHAN BIOVITRUM	0.5%
58	MILLICOM INTERNATIONAL CELLULAR	0.5%
59	A P MOLLER MAERSK CLASS A	0.5%
60	HENNES & MAURITZ CLASS B	0.5%
61	SECURITAS CLASS B	0.5%
62	YARA INTERNATIONAL	0.5%
63	TRYG	0.5%
64	ORKLA	0.5%
65	INDUTRADE	0.4%
66	KESKO CLASS B	0.4%
67	LIFCO CLASS B	0.4%
68	SVENSKA CELLULOSA AKTIEBOLAGET SCA	0.4%
69	NIBE INDUSTRIER CLASS B	0.4%
70	STORA ENSO CLASS R	0.4%
71	BEIJER REF CLASS B	0.4%
72	GJENSIDIGE FORSIKRING	0.4%
73	INDUSTRIVARDEN CLASS A	0.4%
74	ELISA	0.4%
75	VAR ENERGI	0.3%
76	LUNDBERGFORETAGEN CLASS B	0.3%
77	SALMAR	0.3%
78	OCTAVE INTELLIGENCE SDR PLC	0.2%
79	SWEDISH KRONA	0.2%
80	SAGAX CLASS B	0.2%
81	FASTIGHETS BALDER CLASS B	0.2%
82	DEMANT	0.2%
83	ROCKWOOL CLASS B	0.2%
84	LATOUR INVESTMENT CLASS B	0.2%
85	VERISURE PLC	0.2%
86	DANISH KRONE	0.1%
87	EURO CURRENCY	0.0%
88	POUND STERLING	0.0%
89	US DOLLAR	0.0%
90	NORWEGIAN KRONE	0.0%

⭳ Download full holdings (CSV)

How it ranks vs peers

🪙 Cheaper than 0% of similar ETFs💰 All-in cost cheaper than 0%

Versus the Equity (stocks) · Europe · GBP ETFs we track.

Advanced risk

10.1%

Downside deviation ?

75%

Up months (hit rate) ?

$8.75

52-week high ?

$7.00

52-week low ?

Concentration depth

~38 ?

Effective number of holdings

Roughly 90 companies are held, but the largest names carry most of the weight — so it behaves like ~38 equal-sized positions.

Tilt vs a world tracker

United States-72.1

Sweden+43.0

Denmark+24.1

Technology-21.5

Industrials+20.9

Finland+17.2

Percentage points over / under a broad world-equity tracker (not a licensed benchmark).

Documents

📄 KID (PDF)

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Matched on🌍 Europe stocks

Compare side by side

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	Xtrackers MSCI Nordic UCITS ETF 2C GBP HedgedXtrackersYou're viewing	Invesco S&P 500 UCITS ETF EUR Hdg AccInvescoBroader match	Amundi Core S&P 500 Swap UCITS ETF EUR Hedged AccAmundiBroader match	Amundi Core S&P 500 Swap UCITS ETF EUR Hedged DistAmundiBroader match	Amundi Core Stoxx Europe 600 UCITS ETF AccAmundiBroader match	Amundi Core Stoxx Europe 600 UCITS ETF USD Hedged AccAmundiBroader match	Amundi Core Stoxx Europe 600 UCITS ETF EUR Hedged DistAmundiBroader match
Why it's similar	This is the fund on this page.	StocksAccumulatingCheaper fee Tracks a different index in the same category.	StocksAccumulatingCheaper fee Tracks a different index in the same category.	StocksCheaper fee Tracks a different index in the same category.	StocksAccumulatingPhysicalCheaper fee Tracks a different index in the same category.	StocksAccumulatingPhysicalCheaper fee Tracks a different index in the same category.	StocksPhysicalCheaper fee Tracks a different index in the same category.
Index tracked	MSCI Nordic Countries Index	S&P 500 Daily Hedged Euro Net Total Return Index	S&P 500 Daily Hedged Euro Index Net TR	S&P 500 Daily Hedged Euro Index Net TR	STOXX Europe 600 (Net Return) EUR	STOXX Europe 600 (Net Return) EUR	STOXX Europe 600 (Net Return) EUR
Yearly fee (TER)	0.35%	0.05%	0.07%	0.07%	0.07%	0.09%	0.15%
All-in cost	0.35%	0.45%	0.00%	0.07%	0.07%	0.09%	0.15%
Fund size	€0	€51.2B	€28.8B	€28.4B	€21.7B	€21.5B	€21.4B
Domicile	Ireland	Ireland	LU	LU	LU	LU	LU
Replication	Physical (full)	Synthetic (swap)	Synthetic (swap)	Synthetic (swap)	Physical (full)	Physical (full)	Physical (full)
3-yr return p.a.		+18.6%		+18.4%
5-yr return p.a.		+10.0%		+9.0%
# holdings	90	289	10	10	613	613	613

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Data as of 0000-00-00 · Source: issuer data, compiled by Finance Hamster

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