NOVN.SW vs. SPICHA.SW

Last updated Jun 5, 2026

NOVN.SW (Novartis AG) is a stock, while SPICHA.SW (UBS ETF (CH) – SPI® (CHF) A-dis) is Europe Equities fund tracking the SPI® Index. Over the past 10 years, NOVN.SW returned 9.98%/yr vs 7.70%/yr for SPICHA.SW. A 0.65 correlation means they provide meaningful diversification when combined.

Performance

NOVN.SW vs. SPICHA.SW - Performance Comparison

The chart below illustrates the hypothetical performance of a CHF 10,000 investment in Novartis AG (NOVN.SW) and UBS ETF (CH) – SPI® (CHF) A-dis (SPICHA.SW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NOVN.SW achieves a 8.91% return, which is significantly higher than SPICHA.SW's 3.22% return. Over the past 10 years, NOVN.SW has outperformed SPICHA.SW with an annualized return of 9.98%, while SPICHA.SW has yielded a comparatively lower 7.70% 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%

SPICHA.SW

• 1D: 0.82%
• 1M: 1.60%
• YTD: 3.22%
• 6M: 5.42%
• 1Y: 10.32%
• 3Y*: 7.66%
• 5Y*: 4.66%
• 10Y*: 7.70%

*Multi-year figures are annualized to reflect compound growth (CAGR)

NOVN.SW vs. SPICHA.SW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NOVN.SW Novartis AG	8.91%	27.98%	8.44%	11.93%	8.75%	-0.11%	-5.39%	28.50%	6.51%	16.04%
SPICHA.SW UBS ETF (CH) – SPI® (CHF) A-dis	3.22%	17.65%	6.05%	5.82%	-16.70%	23.29%	3.83%	29.94%	-8.35%	19.42%

Correlation

The correlation between NOVN.SW and SPICHA.SW is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Jul 19, 2011	0.65

The correlation between NOVN.SW and SPICHA.SW has been stable across timeframes, ranging from 0.56 to 0.65 - a consistent structural relationship.

Return for Risk

NOVN.SW vs. SPICHA.SW — 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: 75
NOVN.SW Sharpe Ratio Rank: 79
NOVN.SW Sortino Ratio Rank: 72
NOVN.SW Omega Ratio Rank: 72
NOVN.SW Calmar Ratio Rank: 77
NOVN.SW Martin Ratio Rank: 77

SPICHA.SW

SPICHA.SW Risk / Return Rank: 26
SPICHA.SW Sharpe Ratio Rank: 28
SPICHA.SW Sortino Ratio Rank: 27
SPICHA.SW Omega Ratio Rank: 27
SPICHA.SW Calmar Ratio Rank: 23
SPICHA.SW Martin Ratio Rank: 26

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. SPICHA.SW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Novartis AG (NOVN.SW) and UBS ETF (CH) – SPI® (CHF) A-dis (SPICHA.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.

	NOVN.SW	SPICHA.SW	Difference
Sharpe ratio: Return per unit of total volatility	1.34	0.97	+0.36
Sortino ratio: Return per unit of downside risk	1.80	1.45	+0.36
Omega ratio: Gain probability vs. loss probability	1.24	1.18	+0.06
Calmar ratio: Return relative to maximum drawdown	2.29	1.02	+1.28
Martin ratio: Return relative to average drawdown	5.53	3.55	+1.98
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. SPICHA.SW - Sharpe Ratio Comparison

The current NOVN.SW Sharpe Ratio is 1.34, which is higher than the SPICHA.SW Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of NOVN.SW and SPICHA.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.

Sharpe Ratios by Period

	NOVN.SW	SPICHA.SW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	0.97	+0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.35	+0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.56	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.57	-0.08

Drawdowns

NOVN.SW vs. SPICHA.SW - Drawdown Comparison

The maximum NOVN.SW drawdown since its inception was -42.25%, which is greater than SPICHA.SW's maximum drawdown of -26.92%. Use the drawdown chart below to compare losses from any high point for NOVN.SW and SPICHA.SW.

Drawdown Indicators

	NOVN.SW	SPICHA.SW	Difference
Max Drawdown Largest peak-to-trough decline	-42.25%	-26.92%	-15.33%
Max Drawdown (1Y) Largest decline over 1 year	-10.78%	-10.89%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-16.86%	-15.90%	-0.96%
Max Drawdown (5Y) Largest decline over 5 years	-16.86%	-21.48%	+4.62%
Max Drawdown (10Y) Largest decline over 10 years	-24.11%	-26.92%	+2.81%
Current Drawdown Current decline from peak	-8.53%	-2.21%	-6.32%
Average Drawdown Average peak-to-trough decline	-11.40%	-5.21%	-6.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.43%	3.09%	+1.34%

Volatility

NOVN.SW vs. SPICHA.SW - Volatility Comparison

Novartis AG (NOVN.SW) has a higher volatility of 6.01% compared to UBS ETF (CH) – SPI® (CHF) A-dis (SPICHA.SW) at 3.18%. This indicates that NOVN.SW's price experiences larger fluctuations and is considered to be riskier than SPICHA.SW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NOVN.SW	SPICHA.SW	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.01%	3.18%	+2.83%
Volatility (6M) Calculated over the trailing 6-month period	13.12%	8.93%	+4.19%
Volatility (1Y) Calculated over the trailing 1-year period	18.53%	11.37%	+7.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.81%	13.19%	+4.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	13.92%	+4.31%

Dividends

NOVN.SW vs. SPICHA.SW - Dividend Comparison

NOVN.SW's dividend yield for the trailing twelve months is around 3.19%, more than SPICHA.SW's 2.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SPICHA.SW UBS ETF (CH) – SPI® (CHF) A-dis	2.20%	2.64%	2.96%	2.94%	2.83%	2.26%	2.55%	2.60%	3.21%	2.62%	3.04%	2.87%

Frequently Asked Questions

Can I hold both NOVN.SW and SPICHA.SW in my portfolio?

NOVN.SW and SPICHA.SW have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.