PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
NVO vs. URTH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NVO vs. URTH

Last updated Jun 13, 2026

NVO (Novo Nordisk A/S) is a stock, while URTH (iShares MSCI World ETF) is Global Equities fund tracking the MSCI World Index (Net). Over the past 10 years, NVO returned 7.56%/yr vs 13.38%/yr for URTH. At a 0.35 correlation, their price movements are largely independent.

Performance

NVO vs. URTH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Novo Nordisk A/S (NVO) and iShares MSCI World ETF (URTH). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, NVO achieves a -10.74% return, which is significantly lower than URTH's 8.91% return. Over the past 10 years, NVO has underperformed URTH with an annualized return of 7.56%, while URTH has yielded a comparatively higher 13.38% annualized return.

NVO

1D
-0.18%
1M
-4.19%
YTD
-10.74%
6M
-9.50%
1Y
-42.47%
3Y*
-15.59%
5Y*
2.92%
10Y*
7.56%

URTH

1D
0.39%
1M
-0.21%
YTD
8.91%
6M
9.60%
1Y
24.56%
3Y*
19.60%
5Y*
11.45%
10Y*
13.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NVO vs. URTH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
NVO
Novo Nordisk A/S		-10.74%-39.22%-15.93%54.84%22.66%63.52%23.33%28.70%-12.98%52.92%
URTH
iShares MSCI World ETF		8.91%21.36%18.66%23.95%-17.97%22.27%15.78%28.15%-8.56%22.95%

Correlation

The correlation between NVO and URTH is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.40

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

0.36

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

0.37

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

0.38

Correlation (All Time)
Calculated using the full available price history since Jan 12, 2012

0.35

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Novo Nordisk A/S

iShares MSCI World ETF

Often compared with NVO:
NVO vs. LLYNVO vs. NOV.DENVO vs. NVSNVO vs. MRKNVO vs. XLVNVO vs. AZNNVO vs. REGN
Often compared with URTH:
URTH vs. VTURTH vs. IWDA.LURTH vs. SPYURTH vs. VOOURTH vs. XWD.TOURTH vs. BRK-BURTH vs. VXUS

Return for Risk

NVO vs. URTH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NVO
NVO Risk / Return Rank: 1212
Overall Rank
NVO Sharpe Ratio Rank: 99
Sharpe Ratio Rank
NVO Sortino Ratio Rank: 1212
Sortino Ratio Rank
NVO Omega Ratio Rank: 1010
Omega Ratio Rank
NVO Calmar Ratio Rank: 1212
Calmar Ratio Rank
NVO Martin Ratio Rank: 1616
Martin Ratio Rank
URTH
URTH Risk / Return Rank: 6464
Overall Rank
URTH Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
URTH Sortino Ratio Rank: 6464
Sortino Ratio Rank
URTH Omega Ratio Rank: 6363
Omega Ratio Rank
URTH Calmar Ratio Rank: 5959
Calmar Ratio Rank
URTH Martin Ratio Rank: 7171
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.

NVO vs. URTH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (NVO) and iShares MSCI World ETF (URTH). 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.

NVOURTHDifference
Sharpe ratioReturn per unit of total volatility
-0.84
1.85

-2.69

Sortino ratioReturn per unit of downside risk
-1.05
2.55

-3.60

Omega ratioGain probability vs. loss probability

0.85

1.33

-0.48

Calmar ratioReturn relative to maximum drawdown

-0.80

2.56

-3.36

Martin ratioReturn relative to average drawdown

-1.18

11.37

-12.55

NVO vs. URTH - Sharpe Ratio Comparison

The current NVO Sharpe Ratio is -0.84, which is lower than the URTH Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of NVO and URTH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

NVO vs. URTH - Drawdown Comparison

The maximum NVO drawdown since its inception was -74.70%, which is greater than URTH's maximum drawdown of -34.01%. Use the drawdown chart below to compare losses from any high point for NVO and URTH.

Loading charts...

Drawdown Indicators

NVOURTHDifference

Max Drawdown

Largest peak-to-trough decline

-74.70%

-34.01%

-40.69%

Max Drawdown (1Y)

Largest decline over 1 year

-54.34%

-9.06%

-45.28%

Max Drawdown (3Y)

Largest decline over 3 years

-74.70%

-16.94%

-57.76%

Max Drawdown (5Y)

Largest decline over 5 years

-74.70%

-26.05%

-48.65%

Max Drawdown (10Y)

Largest decline over 10 years

-74.70%

-34.01%

-40.69%

Current Drawdown

Current decline from peak

-68.11%

-1.87%

-66.24%

Average Drawdown

Average peak-to-trough decline

-17.79%

-4.37%

-13.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

37.62%

2.04%

+35.58%

Volatility

NVO vs. URTH - Volatility Comparison

Novo Nordisk A/S (NVO) has a higher volatility of 10.68% compared to iShares MSCI World ETF (URTH) at 4.55%. This indicates that NVO's price experiences larger fluctuations and is considered to be riskier than URTH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

NVOURTHDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.68%

4.55%

+6.13%

Volatility (6M)

Calculated over the trailing 6-month period

38.04%

10.11%

+27.93%

Volatility (1Y)

Calculated over the trailing 1-year period

51.88%

12.57%

+39.31%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

38.33%

16.26%

+22.07%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

32.56%

17.29%

+15.27%

Dividends

NVO vs. URTH - Dividend Comparison

NVO's dividend yield for the trailing twelve months is around 4.11%, more than URTH's 1.36% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
URTH
iShares MSCI World ETF		1.36%1.48%1.47%1.70%1.68%1.50%1.52%2.16%2.30%1.88%2.15%2.35%

Frequently Asked Questions

NVO and URTH have a correlation of 0.40, 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 URTH (4.55%). In terms of maximum drawdown, NVO dropped -74.70% vs URTH's -34.01%.

URTH currently has the higher Sharpe Ratio (1.85 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.

Portfolio Optimizer

Find the right allocation for NVO and URTH

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer