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IWM vs. NOVN.SW
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWM vs. NOVN.SW

Last updated Jun 9, 2026

IWM (iShares Russell 2000 ETF) is Small Cap Blend Equities fund tracking the Russell 2000 Index, while NOVN.SW (Novartis AG) is a stock. Over the past 10 years, IWM returned 10.78%/yr vs 12.27%/yr for NOVN.SW. At a 0.23 correlation, their price movements are largely independent.

Performance

IWM vs. NOVN.SW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 2000 ETF (IWM) and Novartis AG (NOVN.SW). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IWM is traded in USD, while NOVN.SW is traded in CHF. To make them comparable, the NOVN.SW values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, IWM achieves a 15.62% return, which is significantly higher than NOVN.SW's 9.27% return. Over the past 10 years, IWM has underperformed NOVN.SW with an annualized return of 10.78%, while NOVN.SW has yielded a comparatively higher 12.27% annualized return.

IWM

1D
0.87%
1M
-0.02%
YTD
15.62%
6M
13.83%
1Y
35.52%
3Y*
16.64%
5Y*
5.48%
10Y*
10.78%

NOVN.SW

1D
2.41%
1M
0.52%
YTD
9.27%
6M
14.43%
1Y
28.10%
3Y*
19.80%
5Y*
15.74%
10Y*
12.27%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWM vs. NOVN.SW - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IWM
iShares Russell 2000 ETF		15.62%12.66%11.38%16.83%-20.48%14.54%20.03%25.39%-11.12%14.58%
NOVN.SW
Novartis AG		9.27%46.11%0.96%22.94%7.48%-3.63%4.07%30.55%5.39%21.32%

Correlation

The correlation between IWM and NOVN.SW is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.24

Correlation (3Y)
Calculated over the trailing 3-year period

0.15

Correlation (5Y)
Calculated over the trailing 5-year period

0.18

Correlation (10Y)
Calculated over the trailing 10-year period

0.20

Correlation (All Time)
Calculated using the full available price history since Sep 3, 2007

0.23

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iShares Russell 2000 ETF

Novartis AG

Often compared with IWM:
IWM vs. SPYIWM vs. VTWOIWM vs. IJRIWM vs. AVUVIWM vs. IWNIWM vs. VOOIWM vs. IWO
Often compared with NOVN.SW:
NOVN.SW vs. NvoNOVN.SW vs. RHHBYNOVN.SW vs. NOVNOVN.SW vs. FLSWNOVN.SW vs. NESN.SWNOVN.SW vs. LLYNOVN.SW vs. VOO

Return for Risk

IWM vs. NOVN.SW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWM
IWM Risk / Return Rank: 6363
Overall Rank
IWM Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
IWM Sortino Ratio Rank: 6060
Sortino Ratio Rank
IWM Omega Ratio Rank: 5454
Omega Ratio Rank
IWM Calmar Ratio Rank: 7171
Calmar Ratio Rank
IWM Martin Ratio Rank: 6868
Martin Ratio Rank
NOVN.SW
NOVN.SW Risk / Return Rank: 7575
Overall Rank
NOVN.SW Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
NOVN.SW Sortino Ratio Rank: 7272
Sortino Ratio Rank
NOVN.SW Omega Ratio Rank: 7272
Omega Ratio Rank
NOVN.SW Calmar Ratio Rank: 7777
Calmar Ratio Rank
NOVN.SW Martin Ratio Rank: 7777
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IWM vs. NOVN.SW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 2000 ETF (IWM) and Novartis AG (NOVN.SW). 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.

IWMNOVN.SWDifference
Sharpe ratioReturn per unit of total volatility
1.83
1.45

+0.38

Sortino ratioReturn per unit of downside risk
2.54
1.95

+0.59

Omega ratioGain probability vs. loss probability

1.30

1.25

+0.05

Calmar ratioReturn relative to maximum drawdown

3.24

2.28

+0.96

Martin ratioReturn relative to average drawdown

11.44

5.55

+5.88

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWM vs. NOVN.SW - Sharpe Ratio Comparison

The current IWM Sharpe Ratio is 1.83, which is comparable to the NOVN.SW Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of IWM and NOVN.SW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IWMNOVN.SWDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.83

1.45

+0.38

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.24

0.81

-0.57

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.47

0.65

-0.18

Sharpe Ratio (All Time)

Calculated using the full available price history

0.36

0.55

-0.19

Drawdowns

IWM vs. NOVN.SW - Drawdown Comparison

The maximum IWM drawdown since its inception was -59.05%, which is greater than NOVN.SW's maximum drawdown of -40.85%. Use the drawdown chart below to compare losses from any high point for IWM and NOVN.SW.

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Drawdown Indicators

IWMNOVN.SWDifference

Max Drawdown

Largest peak-to-trough decline

-59.05%

-40.85%

-18.20%

Max Drawdown (1Y)

Largest decline over 1 year

-11.03%

-13.01%

+1.98%

Max Drawdown (3Y)

Largest decline over 3 years

-27.50%

-19.68%

-7.82%

Max Drawdown (5Y)

Largest decline over 5 years

-31.91%

-21.10%

-10.81%

Max Drawdown (10Y)

Largest decline over 10 years

-41.13%

-24.72%

-16.41%

Current Drawdown

Current decline from peak

-2.71%

-10.88%

+8.17%

Average Drawdown

Average peak-to-trough decline

-10.76%

-9.01%

-1.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.11%

5.30%

-2.19%

Volatility

IWM vs. NOVN.SW - Volatility Comparison

iShares Russell 2000 ETF (IWM) and Novartis AG (NOVN.SW) have volatilities of 6.52% and 6.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWMNOVN.SWDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.52%

6.66%

-0.14%

Volatility (6M)

Calculated over the trailing 6-month period

14.00%

15.00%

-1.00%

Volatility (1Y)

Calculated over the trailing 1-year period

19.53%

20.53%

-1.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.58%

19.42%

+3.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.07%

18.99%

+4.08%

Dividends

IWM vs. NOVN.SW - Dividend Comparison

IWM's dividend yield for the trailing twelve months is around 0.89%, less than NOVN.SW's 3.19% yield.

PositionTTM20252024202320222021202020192018201720162015
IWM
iShares Russell 2000 ETF		0.89%1.04%1.15%1.35%1.48%0.94%1.04%1.26%1.40%1.26%1.38%1.54%
NOVN.SW
Novartis AG		3.19%3.19%3.72%3.77%3.91%3.94%3.72%3.27%3.98%3.98%4.35%3.58%

Frequently Asked Questions

IWM and NOVN.SW have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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