NVOH vs. UMMA

Last updated Jul 18, 2026

NVOH (Novo Nordisk A/S (B Shares) ADRhedged ETF) and UMMA (Wahed Dow Jones Islamic World ETF) are both Foreign Large Cap Equities funds. Both are actively managed. Over the past year, NVOH returned -16.84% vs 36.27% for UMMA. At a 0.29 correlation, their price movements are largely independent. NVOH charges 0.19%/yr vs 0.65%/yr for UMMA.

Performance

NVOH vs. UMMA - 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 Wahed Dow Jones Islamic World ETF (UMMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVOH achieves a 4.29% return, which is significantly lower than UMMA's 21.63% return.

NVOH

• 1D: -1.96%
• 1M: 15.70%
• 6M: -15.26%
• YTD: 4.29%
• 1Y: -16.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

UMMA

• 1D: -0.66%
• 1M: -7.90%
• 6M: 13.74%
• YTD: 21.63%
• 1Y: 36.27%
• 3Y*: 18.01%
• 5Y*: —
• 10Y*: —

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

NVOH vs. UMMA - Yearly Performance Comparison

	2026 (YTD)	2025
NVOH Novo Nordisk A/S (B Shares) ADRhedged ETF	4.29%	-43.79%
UMMA Wahed Dow Jones Islamic World ETF	21.63%	22.55%

Correlation

The correlation between NVOH and UMMA is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jan 7, 2025	0.29

Return for Risk

NVOH vs. UMMA — Risk / Return Rank

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

NVOH

NVOH Risk / Return Rank: 7
NVOH Sharpe Ratio Rank: 7
NVOH Sortino Ratio Rank: 8
NVOH Omega Ratio Rank: 7
NVOH Calmar Ratio Rank: 6
NVOH Martin Ratio Rank: 7

UMMA

UMMA Risk / Return Rank: 57
UMMA Sharpe Ratio Rank: 56
UMMA Sortino Ratio Rank: 53
UMMA Omega Ratio Rank: 56
UMMA Calmar Ratio Rank: 62
UMMA Martin Ratio Rank: 61

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. UMMA - 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 Wahed Dow Jones Islamic World ETF (UMMA). 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.

	NVOH	UMMA	Difference
Sharpe ratio: Return per unit of total volatility	-0.34	1.53	-1.87
Sortino ratio: Return per unit of downside risk	-0.15	2.07	-2.22
Omega ratio: Gain probability vs. loss probability	0.98	1.28	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.37	2.44	-2.81
Martin ratio: Return relative to average drawdown	-0.57	8.53	-9.10

NVOH vs. UMMA - Sharpe Ratio Comparison

The current NVOH Sharpe Ratio is -0.34, which is lower than the UMMA Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of NVOH and UMMA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NVOH vs. UMMA - Drawdown Comparison

The maximum NVOH drawdown since its inception was -61.60%, which is greater than UMMA's maximum drawdown of -34.17%. Use the drawdown chart below to compare losses from any high point for NVOH and UMMA.

Drawdown Indicators

	NVOH	UMMA	Difference
Max Drawdown Largest peak-to-trough decline	-61.60%	-34.17%	-27.43%
Max Drawdown (1Y) Largest decline over 1 year	-46.22%	-14.93%	-31.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.73%	—
Current Drawdown Current decline from peak	-45.12%	-10.86%	-34.26%
Average Drawdown Average peak-to-trough decline	-39.05%	-9.68%	-29.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.81%	4.26%	+25.55%

Volatility

NVOH vs. UMMA - Volatility Comparison

The current volatility for Novo Nordisk A/S (B Shares) ADRhedged ETF (NVOH) is 9.21%, while Wahed Dow Jones Islamic World ETF (UMMA) has a volatility of 9.87%. This indicates that NVOH experiences smaller price fluctuations and is considered to be less risky than UMMA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVOH	UMMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.21%	9.87%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	35.79%	21.44%	+14.35%
Volatility (1Y) Calculated over the trailing 1-year period	49.29%	23.82%	+25.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.04%	21.23%	+26.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.04%	21.23%	+26.81%

NVOH vs. UMMA - Expense Ratio Comparison

NVOH has a 0.19% expense ratio, which is lower than UMMA's 0.65% expense ratio.

Dividends

NVOH vs. UMMA - Dividend Comparison

NVOH's dividend yield for the trailing twelve months is around 6.20%, more than UMMA's 1.00% yield.

Position	TTM	2025	2024	2023	2022
NVOH Novo Nordisk A/S (B Shares) ADRhedged ETF	6.20%	2.38%	0.00%	0.00%	0.00%
UMMA Wahed Dow Jones Islamic World ETF	1.00%	1.02%	0.91%	1.09%	1.77%

Frequently Asked Questions

Can I hold both NVOH and UMMA in my portfolio?

NVOH and UMMA have a correlation of 0.24, 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 UMMA?

UMMA has higher volatility (9.87%) compared to NVOH (9.21%). In terms of maximum drawdown, NVOH dropped -61.60% vs UMMA's -34.17%.

Which ETF is better, NVOH or UMMA?

On 1-year performance, UMMA leads with 36.27% vs -16.84% for NVOH. On fees, NVOH is cheaper at 0.19% per year. On volatility, NVOH has been the lower-risk option at 9.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NVOH or UMMA?

Over the 1-year period, UMMA has performed better with a 36.27% return vs -16.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NVOH or UMMA?

NVOH is cheaper with a 0.19% expense ratio, compared with 0.65% for UMMA.

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

NVOH has the higher dividend yield at 6.20%, compared with 1.00% for UMMA.

What is the main difference between NVOH and UMMA?

They also come from different issuers: Precidian and Wahed. Their fees differ too: 0.19% for NVOH and 0.65% for UMMA.

Which has better risk-adjusted returns?

UMMA currently has the higher Sharpe Ratio (1.53 vs -0.34), 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.