At a glance
GLCR charges 0.95% a year. It has $1.4M in assets. Its ten largest positions make up 68.0% of the fund, out of 31 in all.
The short version
GlacierShares Nasdaq Iceland ETF (GLCR) is an index fund that tracks the MarketVector Iceland Global Index: about 31 stocks of Icelandic companies plus Nordic seafood and fish-farming firms. Its focus is narrow, with Icelandic banks Islandsbanki and Arion Banki together above 25% of assets as of June 30, 2026. It charges 0.95% a year and had about $1.4 million in net assets on that date, which makes it very small.
Price history
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GLCR — over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| GLCR price data to Oct 27, 2026 | -0.9% | — | — | — | — | — |
- The deepest fall in its price history was 9.9% (Aug 27, 2026 to Oct 14, 2026), not yet recovered.
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
No distribution history is available for this fund.
Distributions through Oct 27, 2026.What's inside
As of Jun 30, 2026, the fund held 31 securities; the ten largest made up 68.04% of assets.
| Holding | Weight | |
|---|---|---|
| Islandsbanki HF | 13.95% | |
| Arion Banki HF | 13.20% | |
| Oculis Holding AG | 7.95% | |
| Embla Medical HF | 5.49% | |
| JBT Marel Corp | 5.38% | |
| Amaroq Ltd | 5.32% | |
| Alvotech SA | 4.56% | |
| Bakkafrost P/F | 4.22% | |
| Mowi ASA | 4.15% | |
| Salmar ASA | 3.82% | |
| Hagar hf | 3.81% | |
| Reitir fasteignafelag hf | 3.74% | |
| Festi hf | 3.62% | |
| Kvika banki hf | 2.65% | |
| Heimar HF | 2.64% |
By country
IS 62.62%Norway 9.78%Switzerland 7.95%United States 5.38%Canada 5.32%By asset type
Stocks 99.84%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +3.79%, -0.15%, -10.08%.
How it works
GLCR is an index fund: it aims to match the total return (price changes plus dividends), before fees, of the MarketVector Iceland Global Index. The index has two groups. “Local” companies are listed in Iceland and generally draw much of their revenue or assets from Iceland or other Nordic countries (50% to join, 25% to stay). “Non-local” companies are Nordic firms meeting the same revenue tests from fishing, hatcheries, aquaculture (fish farming) or seafood processing.
The index resets its members and weights every March, June, September and December. Newcomers need a free float (shares available to the public) of at least 10%, a market value above $100 million and average daily trading of at least $100,000. Existing members face looser tests, such as a market value above $50 million. The index had 31 members as of March 31, 2026.
The fund generally holds every index stock in about the index's proportions, but may hold a representative sample when trading a stock is hard or costly. It normally keeps at least 80% of net assets in local Icelandic stocks. It is “non-diversified,” so a few companies can carry heavy weights, and it matches the index's industry concentration: banking, as of March 31, 2026. It may lend up to 33 1/3% of its assets to brokers for extra income.
What it really costs
- GLCR charges 0.95% a year.
- Using the prospectus's standard example, $10,000 invested would cost about $97 in the first year and $1,166 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| GLCR | $97 | $303 | $525 | $1,166 |
In a retirement portfolio
A small, non-diversified single-country fund with banks above 25% of assets and only months of price history is more of a small add-on than a foundation.
GLCR could add exposure to a small economy focused on energy, tourism, fishing and aluminum smelting. Launched March 26, 2025, it has no record in the 2008, 2020 or 2022 downturns and no full calendar year of results. In the price history available from June 9, 2026, its deepest drop was 9.9%, from August 27 to October 14, 2026, not yet recovered as of October 27, 2026. Anyone needing cash in a slump could face a lower price plus extra trading costs: the prospectus warns shares may trade thinly or below the fund's underlying value.
Its yield over the prior 12 months was 0% as of October 27, 2026; payouts come annually. Under the SEC's standard $10,000 example, its 0.95% expense ratio costs $97 after one year and $1,166 after 10 years. Past results don't predict the future; a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors seeking targeted exposure to Iceland's stock market, led by banks Islandsbanki and Arion Banki, who accept single-country and currency risk.
- People wanting a small add-on position who accept heavy concentration: the top 10 stocks were about 68% of assets as of June 30, 2026.
- Investors interested in Nordic fishing and fish farming, since the index adds seafood firms such as Mowi, Salmar and Bakkafrost to its Icelandic stocks.
Look elsewhere if
- Retirees needing regular income: GLCR's yield over the prior 12 months was 0% as of October 27, 2026, and payouts come annually.
- Cost-focused investors: the 0.95% expense ratio adds up to $1,166 over 10 years on $10,000 in the SEC's standard example.
- Anyone wanting a long record or easy trading: launched March 26, 2025, it had about $1.4 million in net assets on June 30, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
What does GLCR invest in?
GLCR holds stocks tied to Iceland's economy, tracking the MarketVector Iceland Global Index. As of June 30, 2026, it had 31 holdings, led by Islandsbanki (13.95%), Arion Banki (13.2%), Oculis Holding (7.95%), Embla Medical (5.49%) and JBT Marel (5.38%). Iceland made up about 63% of assets and Norway about 10%, with smaller slices in companies based in Switzerland, the United States, Canada, Luxembourg and the Faroe Islands. Nordic seafood firms such as Mowi, Salmar and Bakkafrost are part of the mix.
What is GLCR's expense ratio?
GLCR's expense ratio is 0.95% a year, taken from fund assets, according to the prospectus filed April 29, 2026; all of it is the management fee. In the SEC's standard example, which assumes $10,000 invested and a 5% yearly return, costs total $97 after one year, $303 after three years, $525 after five and $1,166 after 10. Trading costs come on top, including the bid/ask spread, the gap between the highest bid and the lowest asking price for shares.
Does GLCR pay dividends?
Not in the 12 months to October 27, 2026: GLCR's yield over that period was 0%. Its payout schedule is annual, so any distributions would come once a year rather than monthly or quarterly. For retirees who rely on regular cash flow, that makes it more of a growth bet than an income holding, and its price can fall, as its 9.9% drop from August 27 to October 14, 2026 showed.
Is GLCR good for retirement?
It may suit only a small, higher-risk slot in a retirement portfolio rather than a core role. GLCR is non-diversified, was concentrated in banking as of March 31, 2026, and is tied to one small economy. Its value also moves with currencies such as the Icelandic krona. It launched March 26, 2025, so it has no record through the 2008, 2020 or 2022 downturns. In its price history from June 9, 2026, its deepest drop was 9.9%, not yet recovered as of October 27, 2026.
Is GLCR too small to trade easily?
It is very small, and that can make trading harder. Net assets were about $1.4 million as of June 30, 2026, with no net new money over the prior three months. The prospectus warns that few firms may act as authorized participants (the large dealers that create and redeem ETF shares) or market makers. As a result, shares could trade thinly or at a material discount to net asset value (the value of its holdings), and could even be delisted if those firms step away.