MCHI vs. NVO
MCHI (iShares MSCI China ETF) is China Equities fund tracking the MSCI China Index, while NVO (Novo Nordisk A/S) is a stock. Over the past 10 years, MCHI returned 4.76%/yr vs 7.56%/yr for NVO. At a 0.27 correlation, their price movements are largely independent.
Performance
MCHI vs. NVO - Performance Comparison
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Returns By Period
In the year-to-date period, MCHI achieves a -8.72% return, which is significantly higher than NVO's -10.74% return. Over the past 10 years, MCHI has underperformed NVO with an annualized return of 4.76%, while NVO has yielded a comparatively higher 7.56% annualized return.
MCHI
- 1D
- 0.90%
- 1M
- -5.63%
- YTD
- -8.72%
- 6M
- -9.79%
- 1Y
- 2.33%
- 3Y*
- 8.42%
- 5Y*
- -5.82%
- 10Y*
- 4.76%
NVO
- 1D
- -0.18%
- 1M
- -4.19%
- YTD
- -10.74%
- 6M
- -9.50%
- 1Y
- -42.47%
- 3Y*
- -15.59%
- 5Y*
- 2.92%
- 10Y*
- 7.56%
MCHI vs. NVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MCHI iShares MSCI China ETF | -8.72% | 31.04% | 17.73% | -11.94% | -23.01% | -21.74% | 27.78% | 23.72% | -19.79% | 54.67% |
NVO Novo Nordisk A/S | -10.74% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
Correlation
The correlation between MCHI and NVO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2011 | 0.27 |
The correlation between MCHI and NVO shifts across timeframes, from 0.14 (3 years) to 0.27 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MCHI vs. NVO — Risk / Return Rank
MCHI
NVO
MCHI vs. NVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China ETF (MCHI) and Novo Nordisk A/S (NVO). 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.
| MCHI | NVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 0.85 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | -0.80 | +0.82 |
| Martin ratioReturn relative to average drawdown | 0.05 | -1.18 | +1.23 |
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Drawdowns
MCHI vs. NVO - Drawdown Comparison
The maximum MCHI drawdown since its inception was -62.95%, smaller than the maximum NVO drawdown of -74.70%. Use the drawdown chart below to compare losses from any high point for MCHI and NVO.
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Drawdown Indicators
| MCHI | NVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.95% | -74.70% | +11.75% |
Max Drawdown (1Y)Largest decline over 1 year | -18.51% | -54.34% | +35.83% |
Max Drawdown (3Y)Largest decline over 3 years | -25.85% | -74.70% | +48.85% |
Max Drawdown (5Y)Largest decline over 5 years | -56.98% | -74.70% | +17.72% |
Max Drawdown (10Y)Largest decline over 10 years | -62.95% | -74.70% | +11.75% |
Current DrawdownCurrent decline from peak | -37.76% | -68.11% | +30.35% |
Average DrawdownAverage peak-to-trough decline | -24.54% | -17.79% | -6.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.81% | 37.62% | -28.81% |
Volatility
MCHI vs. NVO - Volatility Comparison
The current volatility for iShares MSCI China ETF (MCHI) is 6.46%, while Novo Nordisk A/S (NVO) has a volatility of 10.68%. This indicates that MCHI experiences smaller price fluctuations and is considered to be less risky than NVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCHI | NVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.46% | 10.68% | -4.22% |
Volatility (6M)Calculated over the trailing 6-month period | 14.62% | 38.04% | -23.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.23% | 51.88% | -31.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.72% | 38.33% | -7.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.38% | 32.56% | -5.18% |
Dividends
MCHI vs. NVO - Dividend Comparison
MCHI's dividend yield for the trailing twelve months is around 2.32%, less than NVO's 4.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCHI iShares MSCI China ETF | 2.32% | 2.12% | 2.31% | 2.66% | 1.78% | 1.04% | 1.04% | 1.45% | 1.60% | 1.56% | 1.66% | 2.76% |
NVO Novo Nordisk A/S | 4.11% | 3.31% | 1.68% | 1.00% | 1.20% | 1.35% | 1.87% | 2.14% | 1.45% | 1.52% | 2.87% | 0.92% |
Frequently Asked Questions
MCHI and NVO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVO has higher volatility (10.68%) compared to MCHI (6.46%). In terms of maximum drawdown, MCHI dropped -62.95% vs NVO's -74.70%.
MCHI currently has the higher Sharpe Ratio (0.02 vs -0.84), 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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