SC0U.DE vs. NOV.DE

Last updated Jun 13, 2026

SC0U.DE (Invesco European Banks Sector UCITS ETF) is Financials Equities fund tracking the STOXX® Europe 600 Optimised Banks, while NOV.DE (Novo Nordisk A/S) is a stock. Over the past 10 years, SC0U.DE returned 15.32%/yr vs 17.16%/yr for NOV.DE. At a 0.14 correlation, their price movements are largely independent.

Performance

SC0U.DE vs. NOV.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco European Banks Sector UCITS ETF (SC0U.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, SC0U.DE achieves a 8.50% return, which is significantly higher than NOV.DE's -10.35% return. Over the past 10 years, SC0U.DE has underperformed NOV.DE with an annualized return of 15.32%, while NOV.DE has yielded a comparatively higher 17.16% annualized return.

SC0U.DE

• 1D: 4.29%
• 1M: 7.40%
• YTD: 8.50%
• 6M: 14.36%
• 1Y: 45.31%
• 3Y*: 43.09%
• 5Y*: 28.15%
• 10Y*: 15.32%

NOV.DE

• 1D: 0.21%
• 1M: -0.63%
• YTD: -10.35%
• 6M: -8.05%
• 1Y: -42.30%
• 3Y*: 4.29%
• 5Y*: 20.26%
• 10Y*: 17.16%

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

SC0U.DE vs. NOV.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SC0U.DE Invesco European Banks Sector UCITS ETF	8.50%	79.97%	32.49%	25.93%	-0.07%	37.72%	-22.62%	15.49%	-26.78%	10.92%
NOV.DE Novo Nordisk A/S	-10.35%	-45.88%	-9.45%	201.62%	32.53%	76.94%	16.00%	38.98%	-7.34%	39.52%

Correlation

The correlation between SC0U.DE and NOV.DE is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jul 7, 2009	0.14

Return for Risk

SC0U.DE vs. NOV.DE — Risk / Return Rank

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

SC0U.DE

SC0U.DE Risk / Return Rank: 59
SC0U.DE Sharpe Ratio Rank: 64
SC0U.DE Sortino Ratio Rank: 63
SC0U.DE Omega Ratio Rank: 57
SC0U.DE Calmar Ratio Rank: 58
SC0U.DE Martin Ratio Rank: 54

NOV.DE

NOV.DE Risk / Return Rank: 12
NOV.DE Sharpe Ratio Rank: 9
NOV.DE Sortino Ratio Rank: 11
NOV.DE Omega Ratio Rank: 10
NOV.DE Calmar Ratio Rank: 12
NOV.DE Martin Ratio Rank: 17

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.

SC0U.DE vs. NOV.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco European Banks Sector UCITS ETF (SC0U.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.

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.

	SC0U.DE	NOV.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.86	-0.85	+2.71
Sortino ratio: Return per unit of downside risk	2.61	-1.07	+3.68
Omega ratio: Gain probability vs. loss probability	1.31	0.85	+0.46
Calmar ratio: Return relative to maximum drawdown	2.57	-0.80	+3.37
Martin ratio: Return relative to average drawdown	8.44	-1.16	+9.60

SC0U.DE vs. NOV.DE - Sharpe Ratio Comparison

The current SC0U.DE Sharpe Ratio is 1.86, which is higher than the NOV.DE Sharpe Ratio of -0.85. The chart below compares the historical Sharpe Ratios of SC0U.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.

Drawdowns

SC0U.DE vs. NOV.DE - Drawdown Comparison

The maximum SC0U.DE drawdown since its inception was -60.69%, smaller than the maximum NOV.DE drawdown of -76.24%. Use the drawdown chart below to compare losses from any high point for SC0U.DE and NOV.DE.

Drawdown Indicators

	SC0U.DE	NOV.DE	Difference
Max Drawdown Largest peak-to-trough decline	-60.69%	-76.24%	+15.55%
Max Drawdown (1Y) Largest decline over 1 year	-16.70%	-53.78%	+37.08%
Max Drawdown (3Y) Largest decline over 3 years	-19.82%	-76.24%	+56.42%
Max Drawdown (5Y) Largest decline over 5 years	-29.85%	-76.24%	+46.39%
Max Drawdown (10Y) Largest decline over 10 years	-56.61%	-76.24%	+19.63%
Current Drawdown Current decline from peak	0.00%	-70.33%	+70.33%
Average Drawdown Average peak-to-trough decline	-20.11%	-11.57%	-8.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.10%	35.53%	-30.43%

Volatility

SC0U.DE vs. NOV.DE - Volatility Comparison

The current volatility for Invesco European Banks Sector UCITS ETF (SC0U.DE) is 6.96%, while Novo Nordisk A/S (NOV.DE) has a volatility of 9.39%. This indicates that SC0U.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

	SC0U.DE	NOV.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	9.39%	-2.43%
Volatility (6M) Calculated over the trailing 6-month period	18.92%	37.99%	-19.07%
Volatility (1Y) Calculated over the trailing 1-year period	23.11%	50.46%	-27.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.71%	57.30%	-33.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.59%	44.50%	-18.91%

Dividends

SC0U.DE vs. NOV.DE - Dividend Comparison

SC0U.DE has not paid dividends to shareholders, while NOV.DE's dividend yield for the trailing twelve months is around 4.10%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOV.DE Novo Nordisk A/S	4.10%	3.54%	1.59%	1.02%	2.36%	2.54%	3.97%	4.18%	5.34%	4.55%	7.38%	2.50%
SC0U.DE Invesco European Banks 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 SC0U.DE and NOV.DE in my portfolio?

SC0U.DE and NOV.DE have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.