NVO vs. DBMF
NVO (Novo Nordisk A/S) is a stock, while DBMF (iMGP DBi Managed Futures Strategy ETF) is Systematic Trend fund actively managed by iM Global Partners. Over the past 5 years, NVO returned 2.92%/yr vs 8.01%/yr for DBMF. At a 0.09 correlation, their price movements are largely independent.
Performance
NVO vs. DBMF - Performance Comparison
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Returns By Period
In the year-to-date period, NVO achieves a -10.74% return, which is significantly lower than DBMF's 10.27% return.
NVO
- 1D
- -0.18%
- 1M
- -6.80%
- YTD
- -10.74%
- 6M
- -9.50%
- 1Y
- -43.34%
- 3Y*
- -15.59%
- 5Y*
- 2.92%
- 10Y*
- 7.56%
DBMF
- 1D
- 0.26%
- 1M
- -0.96%
- YTD
- 10.27%
- 6M
- 11.24%
- 1Y
- 27.33%
- 3Y*
- 9.64%
- 5Y*
- 8.01%
- 10Y*
- —
NVO vs. DBMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NVO Novo Nordisk A/S | -10.74% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 23.12% |
DBMF iMGP DBi Managed Futures Strategy ETF | 10.27% | 13.85% | 7.24% | -8.94% | 21.61% | 11.49% | 1.80% | 10.51% |
Correlation
The correlation between NVO and DBMF is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 8, 2019 | 0.09 |
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Return for Risk
NVO vs. DBMF — Risk / Return Rank
NVO
DBMF
NVO vs. DBMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and iMGP DBi Managed Futures Strategy ETF (DBMF). 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.
| NVO | DBMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.06 | ||
| Sortino ratioReturn per unit of downside risk | -3.97 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.47 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 4.50 | -5.30 |
| Martin ratioReturn relative to average drawdown | -1.18 | 16.30 | -17.48 |
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Drawdowns
NVO vs. DBMF - Drawdown Comparison
The maximum NVO drawdown since its inception was -74.70%, which is greater than DBMF's maximum drawdown of -20.39%. Use the drawdown chart below to compare losses from any high point for NVO and DBMF.
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Drawdown Indicators
| NVO | DBMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -20.39% | -54.31% |
Max Drawdown (1Y)Largest decline over 1 year | -54.34% | -6.10% | -48.24% |
Max Drawdown (3Y)Largest decline over 3 years | -74.70% | -15.60% | -59.10% |
Max Drawdown (5Y)Largest decline over 5 years | -74.70% | -20.39% | -54.31% |
Max Drawdown (10Y)Largest decline over 10 years | -74.70% | — | — |
Current DrawdownCurrent decline from peak | -68.11% | -1.91% | -66.20% |
Average DrawdownAverage peak-to-trough decline | -17.79% | -6.56% | -11.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 37.62% | 1.68% | +35.94% |
Volatility
NVO vs. DBMF - Volatility Comparison
Novo Nordisk A/S (NVO) has a higher volatility of 10.68% compared to iMGP DBi Managed Futures Strategy ETF (DBMF) at 2.71%. This indicates that NVO's price experiences larger fluctuations and is considered to be riskier than DBMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVO | DBMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.68% | 2.71% | +7.97% |
Volatility (6M)Calculated over the trailing 6-month period | 38.04% | 10.00% | +28.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.88% | 12.35% | +39.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.33% | 12.55% | +25.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.56% | 12.41% | +20.15% |
Dividends
NVO vs. DBMF - Dividend Comparison
NVO's dividend yield for the trailing twelve months is around 4.11%, less than DBMF's 5.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBMF iMGP DBi Managed Futures Strategy ETF | 5.19% | 5.91% | 5.75% | 2.91% | 7.72% | 10.38% | 0.86% | 9.35% | 0.00% | 0.00% | 0.00% | 0.00% |
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
NVO and DBMF have a correlation of 0.11, 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 DBMF (2.71%). In terms of maximum drawdown, NVO dropped -74.70% vs DBMF's -20.39%.
DBMF currently has the higher Sharpe Ratio (2.22 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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