ALVO vs. IBBQ
ALVO (Alvotech) is a stock, while IBBQ (Invesco Nasdaq Biotechnology ETF) is Health & Biotech Equities fund tracking the NASDAQ / Biotechnology. Over the past 3 years, ALVO returned -21.16%/yr vs 15.18%/yr for IBBQ. At a 0.17 correlation, their price movements are largely independent.
Performance
ALVO vs. IBBQ - Performance Comparison
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Returns By Period
In the year-to-date period, ALVO achieves a -27.88% return, which is significantly lower than IBBQ's 8.67% return.
ALVO
- 1D
- 1.37%
- 1M
- 10.78%
- YTD
- -27.88%
- 6M
- -23.08%
- 1Y
- -59.47%
- 3Y*
- -21.16%
- 5Y*
- —
- 10Y*
- —
IBBQ
- 1D
- 0.93%
- 1M
- 5.09%
- YTD
- 8.67%
- 6M
- 7.00%
- 1Y
- 48.86%
- 3Y*
- 15.18%
- 5Y*
- 4.77%
- 10Y*
- —
ALVO vs. IBBQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ALVO Alvotech | -27.88% | -61.22% | 15.24% | 14.80% | 5.26% |
IBBQ Invesco Nasdaq Biotechnology ETF | 8.67% | 33.32% | -0.63% | 4.73% | 22.06% |
Correlation
The correlation between ALVO and IBBQ is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2022 | 0.17 |
The correlation between ALVO and IBBQ shifts across timeframes, from 0.17 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ALVO vs. IBBQ — Risk / Return Rank
ALVO
IBBQ
ALVO vs. IBBQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alvotech (ALVO) and Invesco Nasdaq Biotechnology ETF (IBBQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ALVO | IBBQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.28 | ||
| Sortino ratioReturn per unit of downside risk | -4.55 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.40 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.86 | 5.89 | -6.75 |
| Martin ratioReturn relative to average drawdown | -1.30 | 18.75 | -20.05 |
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Drawdowns
ALVO vs. IBBQ - Drawdown Comparison
The maximum ALVO drawdown since its inception was -82.63%, which is greater than IBBQ's maximum drawdown of -37.94%. Use the drawdown chart below to compare losses from any high point for ALVO and IBBQ.
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Drawdown Indicators
| ALVO | IBBQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.63% | -37.94% | -44.69% |
Max Drawdown (1Y)Largest decline over 1 year | -69.42% | -8.34% | -61.08% |
Max Drawdown (3Y)Largest decline over 3 years | -82.63% | -23.66% | -58.97% |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.94% | — |
Current DrawdownCurrent decline from peak | -78.58% | 0.00% | -78.58% |
Average DrawdownAverage peak-to-trough decline | -37.58% | -16.66% | -20.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.79% | 2.61% | +43.18% |
Volatility
ALVO vs. IBBQ - Volatility Comparison
Alvotech (ALVO) has a higher volatility of 30.87% compared to Invesco Nasdaq Biotechnology ETF (IBBQ) at 6.82%. This indicates that ALVO's price experiences larger fluctuations and is considered to be riskier than IBBQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALVO | IBBQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 30.87% | 6.82% | +24.05% |
Volatility (6M)Calculated over the trailing 6-month period | 49.31% | 15.72% | +33.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.92% | 20.03% | +51.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.55% | 21.92% | +39.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.55% | 21.87% | +39.68% |
Dividends
ALVO vs. IBBQ - Dividend Comparison
ALVO has not paid dividends to shareholders, while IBBQ's dividend yield for the trailing twelve months is around 0.83%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
ALVO Alvotech | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IBBQ Invesco Nasdaq Biotechnology ETF | 0.83% | 0.90% | 1.14% | 0.81% | 0.76% | 0.63% |
Frequently Asked Questions
ALVO and IBBQ have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALVO has higher volatility (30.87%) compared to IBBQ (6.82%). In terms of maximum drawdown, ALVO dropped -82.63% vs IBBQ's -37.94%.
IBBQ currently has the higher Sharpe Ratio (2.45 vs -0.83), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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