NVO vs. IXC
NVO (Novo Nordisk A/S) is a stock, while IXC (iShares Global Energy ETF) is Energy Equities fund tracking the S&P Global 1200 Energy Capped Index. Over the past 10 years, NVO returned 8.71%/yr vs 9.48%/yr for IXC. At a 0.24 correlation, their price movements are largely independent.
Performance
NVO vs. IXC - Performance Comparison
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Returns By Period
In the year-to-date period, NVO achieves a -3.09% return, which is significantly lower than IXC's 20.55% return. Over the past 10 years, NVO has underperformed IXC with an annualized return of 8.71%, while IXC has yielded a comparatively higher 9.48% annualized return.
NVO
- 1D
- 0.49%
- 1M
- 7.81%
- YTD
- -3.09%
- 6M
- -6.19%
- 1Y
- -25.97%
- 3Y*
- -13.17%
- 5Y*
- 5.04%
- 10Y*
- 8.71%
IXC
- 1D
- 0.67%
- 1M
- -7.64%
- YTD
- 20.55%
- 6M
- 21.59%
- 1Y
- 32.10%
- 3Y*
- 15.17%
- 5Y*
- 17.36%
- 10Y*
- 9.48%
NVO vs. IXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NVO Novo Nordisk A/S | -3.09% | -39.22% | -15.93% | 54.84% | 22.66% | 63.52% | 23.33% | 28.70% | -12.98% | 52.92% |
IXC iShares Global Energy ETF | 20.55% | 13.98% | 1.95% | 3.92% | 48.51% | 40.88% | -31.00% | 12.67% | -14.85% | 5.54% |
Correlation
The correlation between NVO and IXC is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2001 | 0.24 |
The correlation between NVO and IXC shifts across timeframes, from -0.01 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NVO vs. IXC — Risk / Return Rank
NVO
IXC
NVO vs. IXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and iShares Global Energy ETF (IXC). 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 | IXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.20 | ||
| Sortino ratioReturn per unit of downside risk | -2.64 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.28 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.53 | 2.33 | -2.86 |
| Martin ratioReturn relative to average drawdown | -0.84 | 8.08 | -8.92 |
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Drawdowns
NVO vs. IXC - Drawdown Comparison
The maximum NVO drawdown since its inception was -74.70%, which is greater than IXC's maximum drawdown of -67.88%. Use the drawdown chart below to compare losses from any high point for NVO and IXC.
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Drawdown Indicators
| NVO | IXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.70% | -67.88% | -6.82% |
Max Drawdown (1Y)Largest decline over 1 year | -49.17% | -13.81% | -35.36% |
Max Drawdown (3Y)Largest decline over 3 years | -74.70% | -19.06% | -55.64% |
Max Drawdown (5Y)Largest decline over 5 years | -74.70% | -24.93% | -49.77% |
Max Drawdown (10Y)Largest decline over 10 years | -74.70% | -64.16% | -10.54% |
Current DrawdownCurrent decline from peak | -65.38% | -13.24% | -52.14% |
Average DrawdownAverage peak-to-trough decline | -17.82% | -17.46% | -0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.98% | 3.98% | +27.00% |
Volatility
NVO vs. IXC - Volatility Comparison
Novo Nordisk A/S (NVO) has a higher volatility of 11.82% compared to iShares Global Energy ETF (IXC) at 6.46%. This indicates that NVO's price experiences larger fluctuations and is considered to be riskier than IXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NVO | IXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.82% | 6.46% | +5.36% |
Volatility (6M)Calculated over the trailing 6-month period | 38.40% | 15.91% | +22.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.76% | 19.08% | +32.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.48% | 23.50% | +14.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.57% | 26.82% | +5.75% |
Dividends
NVO vs. IXC - Dividend Comparison
NVO's dividend yield for the trailing twelve months is around 3.78%, more than IXC's 3.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IXC iShares Global Energy ETF | 3.15% | 3.68% | 4.56% | 3.45% | 4.76% | 3.98% | 4.86% | 7.00% | 3.51% | 3.05% | 2.86% | 3.77% |
NVO Novo Nordisk A/S | 3.78% | 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 IXC have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVO has higher volatility (11.82%) compared to IXC (6.46%). In terms of maximum drawdown, NVO dropped -74.70% vs IXC's -67.88%.
IXC currently has the higher Sharpe Ratio (1.69 vs -0.51), 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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