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

NOVN.SW vs. EWP

Last updated Jun 5, 2026

NOVN.SW (Novartis AG) is a stock, while EWP (iShares MSCI Spain ETF) is Europe Equities fund tracking the MSCI Spain Index. Over the past 10 years, NOVN.SW returned 9.98%/yr vs 9.41%/yr for EWP. At a 0.30 correlation, their price movements are largely independent.

Performance

NOVN.SW vs. EWP - Performance Comparison

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

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Different Trading Currencies

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

Returns By Period

In the year-to-date period, NOVN.SW achieves a 8.91% return, which is significantly higher than EWP's 5.72% return. Over the past 10 years, NOVN.SW has outperformed EWP with an annualized return of 9.98%, while EWP has yielded a comparatively lower 9.41% annualized return.

NOVN.SW

1D
2.04%
1M
2.19%
YTD
8.91%
6M
11.93%
1Y
22.96%
3Y*
14.41%
5Y*
12.76%
10Y*
9.98%

EWP

1D
0.07%
1M
1.84%
YTD
5.72%
6M
8.61%
1Y
29.27%
3Y*
25.56%
5Y*
14.08%
10Y*
9.41%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NOVN.SW vs. EWP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NOVN.SW
Novartis AG		8.91%27.98%8.44%11.93%8.75%-0.11%-5.39%28.50%6.51%16.04%
EWP
iShares MSCI Spain ETF		5.72%55.55%14.03%18.59%-3.88%3.20%-12.04%10.03%-14.50%21.59%

Correlation

The correlation between NOVN.SW and EWP is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.27

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

0.23

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

0.26

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

0.27

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

0.30

Compare stocks, funds, or ETFs

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Novartis AG

iShares MSCI Spain ETF

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
Often compared with EWP:
EWP vs. EWGEWP vs. EWIEWP vs. EPOLEWP vs. EIRLEWP vs. VOOEWP vs. FEZEWP vs. EWQ

Return for Risk

NOVN.SW vs. EWP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
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
EWP
EWP Risk / Return Rank: 5959
Overall Rank
EWP Sharpe Ratio Rank: 5858
Sharpe Ratio Rank
EWP Sortino Ratio Rank: 5656
Sortino Ratio Rank
EWP Omega Ratio Rank: 5555
Omega Ratio Rank
EWP Calmar Ratio Rank: 6565
Calmar Ratio Rank
EWP Martin Ratio Rank: 6363
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.

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

This table presents a comparison of risk-adjusted performance metrics for Novartis AG (NOVN.SW) and iShares MSCI Spain ETF (EWP). 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.

NOVN.SWEWPDifference
Sharpe ratioReturn per unit of total volatility
1.34
1.69

-0.36

Sortino ratioReturn per unit of downside risk
1.80
2.29

-0.49

Omega ratioGain probability vs. loss probability

1.24

1.31

-0.07

Calmar ratioReturn relative to maximum drawdown

2.29

3.05

-0.75

Martin ratioReturn relative to average drawdown

5.53

10.98

-5.44

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

NOVN.SW vs. EWP - Sharpe Ratio Comparison

The current NOVN.SW Sharpe Ratio is 1.34, which is comparable to the EWP Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of NOVN.SW and EWP, 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

NOVN.SWEWPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.34

1.69

-0.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.72

0.74

-0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

0.43

+0.12

Sharpe Ratio (All Time)

Calculated using the full available price history

0.48

0.06

+0.42

Drawdowns

NOVN.SW vs. EWP - Drawdown Comparison

The maximum NOVN.SW drawdown since its inception was -42.25%, smaller than the maximum EWP drawdown of -65.58%. Use the drawdown chart below to compare losses from any high point for NOVN.SW and EWP.

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Drawdown Indicators

NOVN.SWEWPDifference

Max Drawdown

Largest peak-to-trough decline

-42.25%

-65.58%

+23.33%

Max Drawdown (1Y)

Largest decline over 1 year

-10.78%

-9.65%

-1.13%

Max Drawdown (3Y)

Largest decline over 3 years

-16.86%

-15.52%

-1.34%

Max Drawdown (5Y)

Largest decline over 5 years

-16.86%

-26.71%

+9.85%

Max Drawdown (10Y)

Largest decline over 10 years

-24.11%

-46.45%

+22.34%

Current Drawdown

Current decline from peak

-8.53%

-0.93%

-7.60%

Average Drawdown

Average peak-to-trough decline

-11.40%

-36.45%

+25.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.43%

2.68%

+1.75%

Volatility

NOVN.SW vs. EWP - Volatility Comparison

Novartis AG (NOVN.SW) has a higher volatility of 6.01% compared to iShares MSCI Spain ETF (EWP) at 4.32%. This indicates that NOVN.SW's price experiences larger fluctuations and is considered to be riskier than EWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NOVN.SWEWPDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.01%

4.32%

+1.69%

Volatility (6M)

Calculated over the trailing 6-month period

13.12%

14.47%

-1.35%

Volatility (1Y)

Calculated over the trailing 1-year period

18.53%

17.42%

+1.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.81%

19.16%

-1.35%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.23%

22.03%

-3.80%

Dividends

NOVN.SW vs. EWP - Dividend Comparison

NOVN.SW's dividend yield for the trailing twelve months is around 3.19%, more than EWP's 2.16% yield.

PositionTTM20252024202320222021202020192018201720162015
EWP
iShares MSCI Spain ETF		2.16%2.27%4.35%2.70%3.07%3.29%2.56%3.72%3.69%2.72%4.65%3.85%
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

NOVN.SW and EWP have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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