NVS vs. CII

Last updated Jun 13, 2026

NVS (Novartis AG) is a stock, while CII (BlackRock Enhanced Large Cap Core Fund) is Derivative Income fund actively managed by BlackRock. Over the past 10 years, NVS returned 11.14%/yr vs 14.94%/yr for CII. At a 0.34 correlation, their price movements are largely independent.

Performance

NVS vs. CII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Novartis AG (NVS) and BlackRock Enhanced Large Cap Core Fund (CII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NVS achieves a 14.40% return, which is significantly higher than CII's 7.72% return. Over the past 10 years, NVS has underperformed CII with an annualized return of 11.14%, while CII has yielded a comparatively higher 14.94% annualized return.

NVS

• 1D: -0.55%
• 1M: 2.22%
• YTD: 14.40%
• 6M: 18.98%
• 1Y: 30.60%
• 3Y*: 19.57%
• 5Y*: 14.77%
• 10Y*: 11.14%

CII

• 1D: 0.58%
• 1M: -1.81%
• YTD: 7.72%
• 6M: 10.66%
• 1Y: 38.70%
• 3Y*: 20.94%
• 5Y*: 13.51%
• 10Y*: 14.94%

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

NVS vs. CII - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NVS Novartis AG	14.40%	46.95%	0.02%	16.14%	8.06%	-3.65%	3.34%	13.92%	5.95%	19.42%
CII BlackRock Enhanced Large Cap Core Fund	7.72%	37.78%	12.70%	18.47%	-13.21%	34.26%	8.11%	30.46%	-8.60%	27.73%

Correlation

The correlation between NVS and CII is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since May 26, 2004	0.34

Over the past year, the correlation between NVS and CII has dropped to 0.13 - well below their long-term average of 0.34, suggesting their price drivers have been diverging.

Return for Risk

NVS vs. CII — Risk / Return Rank

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

NVS

NVS Risk / Return Rank: 80
NVS Sharpe Ratio Rank: 82
NVS Sortino Ratio Rank: 79
NVS Omega Ratio Rank: 77
NVS Calmar Ratio Rank: 80
NVS Martin Ratio Rank: 80

CII

CII Risk / Return Rank: 84
CII Sharpe Ratio Rank: 89
CII Sortino Ratio Rank: 83
CII Omega Ratio Rank: 80
CII Calmar Ratio Rank: 84
CII Martin Ratio Rank: 84

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.

NVS vs. CII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Novartis AG (NVS) and BlackRock Enhanced Large Cap Core Fund (CII). 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.

	NVS	CII	Difference
Sharpe ratio: Return per unit of total volatility	1.47	2.52	-1.05
Sortino ratio: Return per unit of downside risk	2.10	3.34	-1.24
Omega ratio: Gain probability vs. loss probability	1.26	1.43	-0.17
Calmar ratio: Return relative to maximum drawdown	2.43	3.33	-0.90
Martin ratio: Return relative to average drawdown	5.88	12.71	-6.83

NVS vs. CII - Sharpe Ratio Comparison

The current NVS Sharpe Ratio is 1.47, which is lower than the CII Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of NVS and CII, 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

NVS vs. CII - Drawdown Comparison

The maximum NVS drawdown since its inception was -42.10%, smaller than the maximum CII drawdown of -56.43%. Use the drawdown chart below to compare losses from any high point for NVS and CII.

Drawdown Indicators

	NVS	CII	Difference
Max Drawdown Largest peak-to-trough decline	-42.10%	-56.43%	+14.33%
Max Drawdown (1Y) Largest decline over 1 year	-12.65%	-11.67%	-0.98%
Max Drawdown (3Y) Largest decline over 3 years	-19.95%	-21.05%	+1.10%
Max Drawdown (5Y) Largest decline over 5 years	-20.42%	-22.32%	+1.90%
Max Drawdown (10Y) Largest decline over 10 years	-26.03%	-40.56%	+14.53%
Current Drawdown Current decline from peak	-6.46%	-6.33%	-0.13%
Average Drawdown Average peak-to-trough decline	-10.92%	-6.17%	-4.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.23%	3.05%	+2.18%

Volatility

NVS vs. CII - Volatility Comparison

Novartis AG (NVS) has a higher volatility of 7.18% compared to BlackRock Enhanced Large Cap Core Fund (CII) at 5.22%. This indicates that NVS's price experiences larger fluctuations and is considered to be riskier than CII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NVS	CII	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.18%	5.22%	+1.96%
Volatility (6M) Calculated over the trailing 6-month period	14.96%	12.09%	+2.87%
Volatility (1Y) Calculated over the trailing 1-year period	21.02%	15.40%	+5.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.89%	17.16%	+1.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.64%	18.54%	+1.10%

Dividends

NVS vs. CII - Dividend Comparison

NVS's dividend yield for the trailing twelve months is around 3.12%, less than CII's 15.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CII BlackRock Enhanced Large Cap Core Fund	15.93%	16.65%	6.15%	6.28%	12.27%	4.98%	6.03%	5.79%	7.06%	6.07%	8.38%	8.49%
NVS Novartis AG	3.12%	2.90%	3.84%	3.44%	3.70%	3.86%	3.22%	3.03%	3.47%	3.24%	3.73%	3.10%

Frequently Asked Questions

Can I hold both NVS and CII in my portfolio?

NVS and CII have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NVS or CII?

NVS has higher volatility (7.18%) compared to CII (5.22%). In terms of maximum drawdown, NVS dropped -42.10% vs CII's -56.43%.

Which has better risk-adjusted returns?

CII currently has the higher Sharpe Ratio (2.52 vs 1.47), 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.