Global X Management launched the Global X FTSE Nordic 30 ETF on the NYSE Arca on Wednesday. The exchange-traded fund tracks the largest and most liquid companies in Sweden, Denmark, Finland and Norway through the FTSE Nordic 30 Index.

In the last five years, the index has returned 56.5%, compared with a 33% return by the FTSE Developed Europe Index in that period. Year-to-date, the FTSE Nordic 30 Index is up 34.9%, compared to a 19.3% return by the developed index.

“In our view, the Scandinavian region offers a stable macroeconomic environment and a unique economic model that has historically produced higher returns than its European neighbors,” said Bruno del Ama, CEO of Global X. “The Scandinavian workforce is well positioned to continue capturing the growth opportunities of the future. Global leadership in education and training has produced high levels of technological adoption and innovation in the region.”

Global X offers one other ETF, the Global X/Interbolsa FTSE Columbia 20 ETF, introduced on Feb. 5. It is up 68.5% through Aug. 18.

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