NVOH vs. EIS

Last updated Jun 5, 2026

NVOH (Novo Nordisk A/S (B Shares) ADRhedged ETF) and EIS (iShares MSCI Israel ETF) are both Foreign Large Cap Equities funds. NVOH is actively managed, while EIS is passively managed. Over the past year, NVOH returned -36.21% vs 53.46% for EIS. At a 0.19 correlation, their price movements are largely independent. NVOH charges 0.19%/yr vs 0.59%/yr for EIS.

Performance

NVOH vs. EIS - Performance Comparison

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

Returns By Period

In the year-to-date period, NVOH achieves a -10.34% return, which is significantly lower than EIS's 17.63% return.

NVOH

• 1D: 3.80%
• 1M: -1.42%
• YTD: -10.34%
• 6M: -5.34%
• 1Y: -36.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EIS

• 1D: -0.47%
• 1M: -4.22%
• YTD: 17.63%
• 6M: 21.45%
• 1Y: 53.46%
• 3Y*: 36.83%
• 5Y*: 15.21%
• 10Y*: 11.80%

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

NVOH vs. EIS - Yearly Performance Comparison

	2026 (YTD)	2025
NVOH Novo Nordisk A/S (B Shares) ADRhedged ETF	-10.34%	-42.98%
EIS iShares MSCI Israel ETF	17.63%	43.86%

Correlation

The correlation between NVOH and EIS is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (All Time) Calculated using the full available price history since Jan 8, 2025	0.19

Return for Risk

NVOH vs. EIS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NVOH

NVOH Risk / Return Rank: 3
NVOH Sharpe Ratio Rank: 3
NVOH Sortino Ratio Rank: 4
NVOH Omega Ratio Rank: 3
NVOH Calmar Ratio Rank: 3
NVOH Martin Ratio Rank: 4

EIS

EIS Risk / Return Rank: 76
EIS Sharpe Ratio Rank: 75
EIS Sortino Ratio Rank: 74
EIS Omega Ratio Rank: 69
EIS Calmar Ratio Rank: 83
EIS Martin Ratio Rank: 81

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.

NVOH vs. EIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Novo Nordisk A/S (B Shares) ADRhedged ETF (NVOH) and iShares MSCI Israel ETF (EIS). 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.

	NVOH	EIS	Difference
Sharpe ratio: Return per unit of total volatility	-0.73	2.38	-3.11
Sortino ratio: Return per unit of downside risk	-0.83	3.29	-4.11
Omega ratio: Gain probability vs. loss probability	0.88	1.41	-0.53
Calmar ratio: Return relative to maximum drawdown	-0.69	4.33	-5.02
Martin ratio: Return relative to average drawdown	-1.00	16.01	-17.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NVOH vs. EIS - Sharpe Ratio Comparison

The current NVOH Sharpe Ratio is -0.73, which is lower than the EIS Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of NVOH and EIS, 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

	NVOH	EIS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.73	2.38	-3.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.78	0.33	-1.10

Drawdowns

NVOH vs. EIS - Drawdown Comparison

The maximum NVOH drawdown since its inception was -61.60%, which is greater than EIS's maximum drawdown of -51.94%. Use the drawdown chart below to compare losses from any high point for NVOH and EIS.

Drawdown Indicators

	NVOH	EIS	Difference
Max Drawdown Largest peak-to-trough decline	-61.60%	-51.94%	-9.66%
Max Drawdown (1Y) Largest decline over 1 year	-53.00%	-12.40%	-40.60%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.10%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-41.88%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.88%	—
Current Drawdown Current decline from peak	-52.82%	-6.00%	-46.82%
Average Drawdown Average peak-to-trough decline	-38.35%	-13.90%	-24.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.19%	3.35%	+32.84%

Volatility

NVOH vs. EIS - Volatility Comparison

Novo Nordisk A/S (B Shares) ADRhedged ETF (NVOH) has a higher volatility of 7.97% compared to iShares MSCI Israel ETF (EIS) at 6.37%. This indicates that NVOH's price experiences larger fluctuations and is considered to be riskier than EIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVOH	EIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.97%	6.37%	+1.60%
Volatility (6M) Calculated over the trailing 6-month period	36.37%	16.00%	+20.37%
Volatility (1Y) Calculated over the trailing 1-year period	49.53%	22.57%	+26.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	49.08%	21.80%	+27.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.08%	21.08%	+28.00%

NVOH vs. EIS - Expense Ratio Comparison

NVOH has a 0.19% expense ratio, which is lower than EIS's 0.59% expense ratio.

Dividends

NVOH vs. EIS - Dividend Comparison

NVOH's dividend yield for the trailing twelve months is around 3.82%, more than EIS's 1.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIS iShares MSCI Israel ETF	1.22%	1.44%	1.38%	1.39%	1.66%	1.04%	0.16%	2.06%	0.87%	2.02%	1.78%	2.55%
NVOH Novo Nordisk A/S (B Shares) ADRhedged ETF	3.82%	2.38%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NVOH and EIS in my portfolio?

NVOH and EIS have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVOH or EIS?

NVOH has higher volatility (7.97%) compared to EIS (6.37%). In terms of maximum drawdown, NVOH dropped -61.60% vs EIS's -51.94%.

Which ETF is better, NVOH or EIS?

On 1-year performance, EIS leads with 53.46% vs -36.21% for NVOH. On fees, NVOH is cheaper at 0.19% per year. On volatility, EIS has been the lower-risk option at 6.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVOH or EIS?

Over the 1-year period, EIS has performed better with a 53.46% return vs -36.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVOH or EIS?

NVOH is cheaper with a 0.19% expense ratio, compared with 0.59% for EIS.

Which ETF pays a higher dividend yield, NVOH or EIS?

NVOH has the higher dividend yield at 3.82%, compared with 1.22% for EIS.

What is the main difference between NVOH and EIS?

They also come from different issuers: Precidian and iShares. Their fees differ too: 0.19% for NVOH and 0.59% for EIS.

Which has better risk-adjusted returns?

EIS currently has the higher Sharpe Ratio (2.38 vs -0.73), 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.