FAQs about the Iceland ETF

What is the Iceland ETF?

The Iceland ETF, also known as the GlacierShares Nasdaq Iceland ETF, is an exchange-traded fund that gives investors access to the Icelandic market. It is listed on Nasdaq under the ticker GLCR, and is the first and only U.S.-listed ETF dedicated specifically to Iceland.

Where does GLCR trade and how do I buy it?

GLCR trades on the Nasdaq exchange under the ticker GLCR. Investors can invest in Iceland through the Iceland ETF just like they would invest in any other publicly listed ETF, using a standard brokerage account.

What index does GLCR track?

GLCR seeks to track the MarketVector Iceland Global Total Return Net Index. To meet its investment objective, the Fund uses a replication strategy by investing in the same companies included in the Index and maintaining similar weightings.

What are the top holdings in the Iceland ETF?

The top five holdings of the Iceland ETF, as of July 1, 2026, include Íslandsbanki (~14.4%), Arion Bank (~12.4%), Oculis Holding AG (~9.5%), Amaroq Minerals (~5.6%), and Embla Medical (~4.9%).

What industries make up the holdings?

The Iceland ETF invests across several industries that play an important role in Iceland’s economy. The largest sector is financial services, including banks and other financial companies. It also has strong exposure to consumer staples, including seafood, aquaculture, food production, and retail businesses. Healthcare is another major industry within the Iceland ETF, with companies focused on biotechnology, medical devices, and pharmaceuticals. Smaller parts of the Iceland ETF are invested in industrial companies, real estate, transportation, and communications. Overall, the ETF gives exposure to a mix of domestic businesses and export-driven industries.

How is GLCR different from buying individual Icelandic stocks?

GLCR is different from buying individual Icelandic stocks because it provides diversification in a single investment. Instead of choosing and managing individual companies yourself, GLCR holds a basket of Icelandic and Iceland-related companies across multiple industries. This reduces the impact that any one company can have on your portfolio. It also gives investors exposure to sectors and companies they may not easily access through U.S. markets. 

Are all the companies in the Iceland ETF based in Iceland?

No, not all of the companies in the Iceland ETF are based in Iceland. The fund primarily invests in Icelandic companies, but it also includes select companies with strong business ties to Iceland or the broader North Atlantic region. For example, some of the fisheries and seafood holdings are based in Norway due to the restrictions on foreign investment Iceland has in its fisheries industry. Including Norwegian seafood companies allows the fund to maintain exposure to an industry that is important to Iceland’s economy while still operating within those investment limits.