RARE vs. IOVA

Last updated Jun 23, 2026

RARE (Ultragenyx Pharmaceutical Inc.) and IOVA (Iovance Biotherapeutics, Inc.) are both stocks. Both operate in the Biotechnology industry within the Healthcare sector. Over the past 10 years, RARE returned -5.13%/yr vs -6.39%/yr for IOVA. At a 0.39 correlation, their price movements are largely independent.

Performance

RARE vs. IOVA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ultragenyx Pharmaceutical Inc. (RARE) and Iovance Biotherapeutics, Inc. (IOVA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RARE achieves a 26.22% return, which is significantly lower than IOVA's 48.72% return. Over the past 10 years, RARE has outperformed IOVA with an annualized return of -5.13%, while IOVA has yielded a comparatively lower -6.39% annualized return.

RARE

• 1D: 5.79%
• 1M: 24.11%
• YTD: 26.22%
• 6M: -16.46%
• 1Y: -21.84%
• 3Y*: -16.69%
• 5Y*: -20.90%
• 10Y*: -5.13%

IOVA

• 1D: 3.84%
• 1M: -1.22%
• YTD: 48.72%
• 6M: 46.04%
• 1Y: 105.05%
• 3Y*: -20.47%
• 5Y*: -30.33%
• 10Y*: -6.39%

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

RARE vs. IOVA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RARE Ultragenyx Pharmaceutical Inc.	26.22%	-45.33%	-12.02%	3.22%	-44.90%	-39.25%	224.12%	-1.77%	-6.25%	-34.03%
IOVA Iovance Biotherapeutics, Inc.	48.72%	-63.11%	-8.98%	27.23%	-66.53%	-58.86%	67.63%	212.77%	10.62%	15.11%

Correlation

The correlation between RARE and IOVA 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	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jan 31, 2014	0.39

Fundamentals

Market Cap RARE : $2.92B IOVA : $1.70B
EPS RARE : -$6.11 IOVA : -$0.93
PS Ratio RARE : 4.32 IOVA : 5.42
Total Revenue (TTM) RARE : $669.43M IOVA : $285.61M
Gross Profit (TTM) RARE : $559.44M IOVA : $327.04M
EBITDA (TTM) RARE : -$522.35M IOVA : -$325.45M

Return for Risk

RARE vs. IOVA — Risk / Return Rank

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

RARE

RARE Risk / Return Rank: 31
RARE Sharpe Ratio Rank: 29
RARE Sortino Ratio Rank: 33
RARE Omega Ratio Rank: 34
RARE Calmar Ratio Rank: 29
RARE Martin Ratio Rank: 30

IOVA

IOVA Risk / Return Rank: 74
IOVA Sharpe Ratio Rank: 74
IOVA Sortino Ratio Rank: 79
IOVA Omega Ratio Rank: 74
IOVA Calmar Ratio Rank: 75
IOVA Martin Ratio Rank: 68

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.

RARE vs. IOVA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ultragenyx Pharmaceutical Inc. (RARE) and Iovance Biotherapeutics, Inc. (IOVA). 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.

	RARE	IOVA	Difference
Sharpe ratio: Return per unit of total volatility	-0.31	1.04	-1.35
Sortino ratio: Return per unit of downside risk	0.08	2.14	-2.05
Omega ratio: Gain probability vs. loss probability	1.01	1.24	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.40	1.94	-2.34
Martin ratio: Return relative to average drawdown	-0.62	3.05	-3.68

RARE vs. IOVA - Sharpe Ratio Comparison

The current RARE Sharpe Ratio is -0.31, which is lower than the IOVA Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of RARE and IOVA, 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

RARE vs. IOVA - Drawdown Comparison

The maximum RARE drawdown since its inception was -89.57%, smaller than the maximum IOVA drawdown of -99.37%. Use the drawdown chart below to compare losses from any high point for RARE and IOVA.

Drawdown Indicators

	RARE	IOVA	Difference
Max Drawdown Largest peak-to-trough decline	-89.57%	-99.37%	+9.80%
Max Drawdown (1Y) Largest decline over 1 year	-55.36%	-54.41%	-0.95%
Max Drawdown (3Y) Largest decline over 3 years	-68.83%	-90.50%	+21.67%
Max Drawdown (5Y) Largest decline over 5 years	-81.93%	-93.99%	+12.06%
Max Drawdown (10Y) Largest decline over 10 years	-89.57%	-96.84%	+7.27%
Current Drawdown Current decline from peak	-83.63%	-97.45%	+13.82%
Average Drawdown Average peak-to-trough decline	-54.86%	-84.18%	+29.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	35.00%	34.61%	+0.39%

Volatility

RARE vs. IOVA - Volatility Comparison

The current volatility for Ultragenyx Pharmaceutical Inc. (RARE) is 16.92%, while Iovance Biotherapeutics, Inc. (IOVA) has a volatility of 25.62%. This indicates that RARE experiences smaller price fluctuations and is considered to be less risky than IOVA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RARE	IOVA	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.92%	25.62%	-8.70%
Volatility (6M) Calculated over the trailing 6-month period	68.41%	64.08%	+4.33%
Volatility (1Y) Calculated over the trailing 1-year period	71.37%	101.54%	-30.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.28%	89.88%	-35.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.34%	81.44%	-26.10%

Dividends

RARE vs. IOVA - Dividend Comparison

Neither RARE nor IOVA has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both RARE and IOVA in my portfolio?

RARE and IOVA 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.

Which is riskier, RARE or IOVA?

IOVA has higher volatility (25.62%) compared to RARE (16.92%). In terms of maximum drawdown, RARE dropped -89.57% vs IOVA's -99.37%.

Which has better risk-adjusted returns?

IOVA currently has the higher Sharpe Ratio (1.04 vs -0.31), 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.