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NOV.DE vs. XXSC.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NOV.DE vs. XXSC.L

Last updated Jun 13, 2026

NOV.DE (Novo Nordisk A/S) is a stock, while XXSC.L (Xtrackers MSCI Europe Small Cap UCITS ETF 1C) is Europe Equities fund tracking the MSCI Europe Small Cap NR EUR. Over the past 10 years, NOV.DE returned 17.16%/yr vs 8.07%/yr for XXSC.L. At a 0.24 correlation, their price movements are largely independent.

Performance

NOV.DE vs. XXSC.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Novo Nordisk A/S (NOV.DE) and Xtrackers MSCI Europe Small Cap UCITS ETF 1C (XXSC.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

NOV.DE is traded in EUR, while XXSC.L is traded in GBp. To make them comparable, the XXSC.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, NOV.DE achieves a -10.35% return, which is significantly lower than XXSC.L's 7.32% return. Over the past 10 years, NOV.DE has outperformed XXSC.L with an annualized return of 17.16%, while XXSC.L has yielded a comparatively lower 8.07% annualized return.

NOV.DE

1D
0.21%
1M
-0.63%
YTD
-10.35%
6M
-8.05%
1Y
-42.30%
3Y*
4.29%
5Y*
20.26%
10Y*
17.16%

XXSC.L

1D
1.63%
1M
2.50%
YTD
7.32%
6M
10.32%
1Y
13.45%
3Y*
10.99%
5Y*
4.01%
10Y*
8.07%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NOV.DE vs. XXSC.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NOV.DE
Novo Nordisk A/S		-10.35%-45.88%-9.45%201.62%32.53%76.94%16.00%38.98%-7.34%39.52%
XXSC.L
Xtrackers MSCI Europe Small Cap UCITS ETF 1C		7.32%15.90%5.62%12.78%-21.75%22.90%4.55%32.29%-15.62%18.49%

Correlation

The correlation between NOV.DE and XXSC.L 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

0.16

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

0.17

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

0.21

Correlation (All Time)
Calculated using the full available price history since Jan 17, 2008

0.24

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Novo Nordisk A/S

Xtrackers MSCI Europe Small Cap UCITS ETF 1C

Often compared with NOV.DE:
NOV.DE vs. NVONOV.DE vs. NOVO-B.CONOV.DE vs. VOONOV.DE vs. 4AB.DENOV.DE vs. LLYNOV.DE vs. FICONOV.DE vs. CSP1.L
Often compared with XXSC.L:
XXSC.L vs. IUSQ.DEXXSC.L vs. AYEW.DEXXSC.L vs. CES1.LXXSC.L vs. EMIM.LXXSC.L vs. SPYXXSC.L vs. EUNL.DEXXSC.L vs. XDEV.L

Return for Risk

NOV.DE vs. XXSC.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NOV.DE
NOV.DE Risk / Return Rank: 1212
Overall Rank
NOV.DE Sharpe Ratio Rank: 99
Sharpe Ratio Rank
NOV.DE Sortino Ratio Rank: 1111
Sortino Ratio Rank
NOV.DE Omega Ratio Rank: 1010
Omega Ratio Rank
NOV.DE Calmar Ratio Rank: 1212
Calmar Ratio Rank
NOV.DE Martin Ratio Rank: 1717
Martin Ratio Rank
XXSC.L
XXSC.L Risk / Return Rank: 3232
Overall Rank
XXSC.L Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
XXSC.L Sortino Ratio Rank: 3232
Sortino Ratio Rank
XXSC.L Omega Ratio Rank: 3333
Omega Ratio Rank
XXSC.L Calmar Ratio Rank: 2929
Calmar Ratio Rank
XXSC.L Martin Ratio Rank: 3232
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.

NOV.DE vs. XXSC.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NOV.DE) and Xtrackers MSCI Europe Small Cap UCITS ETF 1C (XXSC.L). 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.

NOV.DEXXSC.LDifference
Sharpe ratioReturn per unit of total volatility
-0.85
0.91

-1.76

Sortino ratioReturn per unit of downside risk
-1.07
1.36

-2.44

Omega ratioGain probability vs. loss probability

0.85

1.17

-0.32

Calmar ratioReturn relative to maximum drawdown

-0.80

1.20

-1.99

Martin ratioReturn relative to average drawdown

-1.16

4.22

-5.38

NOV.DE vs. XXSC.L - Sharpe Ratio Comparison

The current NOV.DE Sharpe Ratio is -0.85, which is lower than the XXSC.L Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of NOV.DE and XXSC.L, 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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Drawdowns

NOV.DE vs. XXSC.L - Drawdown Comparison

The maximum NOV.DE drawdown since its inception was -76.24%, roughly equal to the maximum XXSC.L drawdown of -77.06%. Use the drawdown chart below to compare losses from any high point for NOV.DE and XXSC.L.

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Drawdown Indicators

NOV.DEXXSC.LDifference

Max Drawdown

Largest peak-to-trough decline

-76.24%

-77.06%

+0.82%

Max Drawdown (1Y)

Largest decline over 1 year

-53.78%

-9.91%

-43.87%

Max Drawdown (3Y)

Largest decline over 3 years

-76.24%

-18.72%

-57.52%

Max Drawdown (5Y)

Largest decline over 5 years

-76.24%

-32.83%

-43.41%

Max Drawdown (10Y)

Largest decline over 10 years

-76.24%

-42.75%

-33.49%

Current Drawdown

Current decline from peak

-70.33%

-1.35%

-68.98%

Average Drawdown

Average peak-to-trough decline

-11.57%

-21.58%

+10.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

35.53%

2.82%

+32.71%

Volatility

NOV.DE vs. XXSC.L - Volatility Comparison

Novo Nordisk A/S (NOV.DE) has a higher volatility of 9.39% compared to Xtrackers MSCI Europe Small Cap UCITS ETF 1C (XXSC.L) at 3.71%. This indicates that NOV.DE's price experiences larger fluctuations and is considered to be riskier than XXSC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NOV.DEXXSC.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.39%

3.71%

+5.68%

Volatility (6M)

Calculated over the trailing 6-month period

37.99%

10.69%

+27.30%

Volatility (1Y)

Calculated over the trailing 1-year period

50.46%

13.03%

+37.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

57.30%

20.97%

+36.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

44.50%

19.32%

+25.18%

Dividends

NOV.DE vs. XXSC.L - Dividend Comparison

NOV.DE's dividend yield for the trailing twelve months is around 4.10%, while XXSC.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
NOV.DE
Novo Nordisk A/S		4.10%3.54%1.59%1.02%2.36%2.54%3.97%4.18%5.34%4.55%7.38%2.50%
XXSC.L
Xtrackers MSCI Europe Small Cap UCITS ETF 1C		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

NOV.DE and XXSC.L 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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