SC02.DE vs. NOV.DE

Last updated Jun 5, 2026

SC02.DE (Invesco European Financials Sector UCITS ETF) is Financials Equities fund tracking the STOXX® Europe 600 Optimised Financial Services, while NOV.DE (Novo Nordisk A/S) is a stock. Over the past 10 years, SC02.DE returned 10.49%/yr vs 9.63%/yr for NOV.DE. At a 0.30 correlation, their price movements are largely independent.

Performance

SC02.DE vs. NOV.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco European Financials Sector UCITS ETF (SC02.DE) and Novo Nordisk A/S (NOV.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SC02.DE achieves a 1.67% return, which is significantly higher than NOV.DE's -10.57% return. Over the past 10 years, SC02.DE has outperformed NOV.DE with an annualized return of 10.49%, while NOV.DE has yielded a comparatively lower 9.63% annualized return.

SC02.DE

• 1D: 1.84%
• 1M: 0.07%
• YTD: 1.67%
• 6M: 8.51%
• 1Y: 3.83%
• 3Y*: 16.32%
• 5Y*: 8.30%
• 10Y*: 10.49%

NOV.DE

• 1D: 4.26%
• 1M: -3.22%
• YTD: -10.57%
• 6M: -4.96%
• 1Y: -37.70%
• 3Y*: -17.58%
• 5Y*: 5.10%
• 10Y*: 9.63%

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

SC02.DE vs. NOV.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SC02.DE Invesco European Financials Sector UCITS ETF	1.67%	9.93%	19.25%	27.60%	-20.74%	24.60%	6.09%	46.54%	-14.49%	18.89%
NOV.DE Novo Nordisk A/S	-10.57%	-45.91%	-9.75%	49.59%	30.57%	73.65%	13.34%	35.39%	19.47%	34.91%

Correlation

The correlation between SC02.DE and NOV.DE 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 (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.26
Correlation (All Time) Calculated using the full available price history since Aug 25, 2009	0.30

Return for Risk

SC02.DE vs. NOV.DE — Risk / Return Rank

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

SC02.DE

SC02.DE Risk / Return Rank: 13
SC02.DE Sharpe Ratio Rank: 13
SC02.DE Sortino Ratio Rank: 12
SC02.DE Omega Ratio Rank: 12
SC02.DE Calmar Ratio Rank: 13
SC02.DE Martin Ratio Rank: 13

NOV.DE

NOV.DE Risk / Return Rank: 16
NOV.DE Sharpe Ratio Rank: 12
NOV.DE Sortino Ratio Rank: 15
NOV.DE Omega Ratio Rank: 14
NOV.DE Calmar Ratio Rank: 17
NOV.DE Martin Ratio Rank: 21

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.

SC02.DE vs. NOV.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco European Financials Sector UCITS ETF (SC02.DE) and Novo Nordisk A/S (NOV.DE). 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.

	SC02.DE	NOV.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.24	-0.70	+0.94
Sortino ratio: Return per unit of downside risk	0.45	-0.75	+1.20
Omega ratio: Gain probability vs. loss probability	1.05	0.89	+0.16
Calmar ratio: Return relative to maximum drawdown	0.31	-0.69	+1.00
Martin ratio: Return relative to average drawdown	0.86	-1.02	+1.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SC02.DE vs. NOV.DE - Sharpe Ratio Comparison

The current SC02.DE Sharpe Ratio is 0.24, which is higher than the NOV.DE Sharpe Ratio of -0.70. The chart below compares the historical Sharpe Ratios of SC02.DE and NOV.DE, 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

	SC02.DE	NOV.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.24	-0.70	+0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.13	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.29	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.50	+0.05

Drawdowns

SC02.DE vs. NOV.DE - Drawdown Comparison

The maximum SC02.DE drawdown since its inception was -42.86%, smaller than the maximum NOV.DE drawdown of -76.64%. Use the drawdown chart below to compare losses from any high point for SC02.DE and NOV.DE.

Drawdown Indicators

	SC02.DE	NOV.DE	Difference
Max Drawdown Largest peak-to-trough decline	-42.86%	-76.64%	+33.78%
Max Drawdown (1Y) Largest decline over 1 year	-12.17%	-54.59%	+42.42%
Max Drawdown (3Y) Largest decline over 3 years	-19.17%	-76.64%	+57.47%
Max Drawdown (5Y) Largest decline over 5 years	-29.68%	-76.64%	+46.96%
Max Drawdown (10Y) Largest decline over 10 years	-42.86%	-76.64%	+33.78%
Current Drawdown Current decline from peak	-3.42%	-70.56%	+67.14%
Average Drawdown Average peak-to-trough decline	-8.06%	-12.76%	+4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	37.00%	-32.54%

Volatility

SC02.DE vs. NOV.DE - Volatility Comparison

The current volatility for Invesco European Financials Sector UCITS ETF (SC02.DE) is 4.93%, while Novo Nordisk A/S (NOV.DE) has a volatility of 8.55%. This indicates that SC02.DE experiences smaller price fluctuations and is considered to be less risky than NOV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SC02.DE	NOV.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.93%	8.55%	-3.62%
Volatility (6M) Calculated over the trailing 6-month period	12.72%	39.45%	-26.73%
Volatility (1Y) Calculated over the trailing 1-year period	15.92%	53.45%	-37.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.08%	37.93%	-18.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.65%	33.39%	-12.74%

Dividends

SC02.DE vs. NOV.DE - Dividend Comparison

SC02.DE has not paid dividends to shareholders, while NOV.DE's dividend yield for the trailing twelve months is around 4.11%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOV.DE Novo Nordisk A/S	4.11%	3.54%	1.58%	1.01%	1.17%	1.27%	1.98%	2.08%	27.19%	2.27%	3.67%	1.25%
SC02.DE Invesco European Financials Sector UCITS ETF	0.00%	0.00%	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 SC02.DE and NOV.DE in my portfolio?

SC02.DE and NOV.DE 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.