XPH vs. NVS

Last updated Jun 24, 2026

XPH (SPDR S&P Pharmaceuticals ETF) is Health & Biotech Equities fund tracking the S&P Pharmaceuticals Select Industry Index, while NVS (Novartis AG) is a stock. Over the past 10 years, XPH returned 5.45%/yr vs 11.11%/yr for NVS. At a 0.45 correlation, their price movements are largely independent.

Performance

XPH vs. NVS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Pharmaceuticals ETF (XPH) and Novartis AG (NVS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XPH achieves a 13.09% return, which is significantly lower than NVS's 14.64% return. Over the past 10 years, XPH has underperformed NVS with an annualized return of 5.45%, while NVS has yielded a comparatively higher 11.11% annualized return.

XPH

• 1D: 1.77%
• 1M: 9.48%
• YTD: 13.09%
• 6M: 12.03%
• 1Y: 55.30%
• 3Y*: 16.62%
• 5Y*: 5.15%
• 10Y*: 5.45%

NVS

• 1D: 2.99%
• 1M: 0.90%
• YTD: 14.64%
• 6M: 13.60%
• 1Y: 34.49%
• 3Y*: 19.10%
• 5Y*: 14.87%
• 10Y*: 11.11%

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

XPH vs. NVS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XPH SPDR S&P Pharmaceuticals ETF	13.09%	31.60%	4.94%	2.97%	-9.83%	-10.54%	14.68%	25.61%	-15.32%	12.05%
NVS Novartis AG	14.64%	46.95%	0.02%	16.14%	8.06%	-3.65%	3.34%	13.92%	5.95%	19.42%

Correlation

The correlation between XPH and NVS is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.44
Correlation (All Time) Calculated using the full available price history since Jun 22, 2006	0.45

Return for Risk

XPH vs. NVS — Risk / Return Rank

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

XPH

XPH Risk / Return Rank: 82
XPH Sharpe Ratio Rank: 84
XPH Sortino Ratio Rank: 82
XPH Omega Ratio Rank: 75
XPH Calmar Ratio Rank: 87
XPH Martin Ratio Rank: 84

NVS

NVS Risk / Return Rank: 81
NVS Sharpe Ratio Rank: 84
NVS Sortino Ratio Rank: 81
NVS Omega Ratio Rank: 79
NVS Calmar Ratio Rank: 82
NVS Martin Ratio Rank: 81

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.

XPH vs. NVS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Pharmaceuticals ETF (XPH) and Novartis AG (NVS). 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.

	XPH	NVS	Difference
Sharpe ratio: Return per unit of total volatility	2.55	1.64	+0.92
Sortino ratio: Return per unit of downside risk	3.43	2.30	+1.14
Omega ratio: Gain probability vs. loss probability	1.41	1.28	+0.13
Calmar ratio: Return relative to maximum drawdown	4.64	2.74	+1.90
Martin ratio: Return relative to average drawdown	16.63	6.46	+10.17

XPH vs. NVS - Sharpe Ratio Comparison

The current XPH Sharpe Ratio is 2.55, which is higher than the NVS Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of XPH and NVS, 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

XPH vs. NVS - Drawdown Comparison

The maximum XPH drawdown since its inception was -48.03%, which is greater than NVS's maximum drawdown of -42.10%. Use the drawdown chart below to compare losses from any high point for XPH and NVS.

Drawdown Indicators

	XPH	NVS	Difference
Max Drawdown Largest peak-to-trough decline	-48.03%	-42.10%	-5.93%
Max Drawdown (1Y) Largest decline over 1 year	-11.97%	-12.65%	+0.68%
Max Drawdown (3Y) Largest decline over 3 years	-23.57%	-19.95%	-3.62%
Max Drawdown (5Y) Largest decline over 5 years	-31.63%	-20.42%	-11.21%
Max Drawdown (10Y) Largest decline over 10 years	-35.97%	-26.03%	-9.94%
Current Drawdown Current decline from peak	0.00%	-6.27%	+6.27%
Average Drawdown Average peak-to-trough decline	-17.21%	-10.92%	-6.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	5.35%	-2.02%

Volatility

XPH vs. NVS - Volatility Comparison

The current volatility for SPDR S&P Pharmaceuticals ETF (XPH) is 6.27%, while Novartis AG (NVS) has a volatility of 8.19%. This indicates that XPH experiences smaller price fluctuations and is considered to be less risky than NVS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XPH	NVS	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.27%	8.19%	-1.92%
Volatility (6M) Calculated over the trailing 6-month period	16.67%	15.42%	+1.25%
Volatility (1Y) Calculated over the trailing 1-year period	21.77%	21.20%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.92%	18.98%	+1.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.09%	19.63%	+2.46%

Dividends

XPH vs. NVS - Dividend Comparison

XPH's dividend yield for the trailing twelve months is around 0.53%, less than NVS's 3.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NVS Novartis AG	3.11%	2.90%	3.84%	3.44%	3.70%	3.86%	3.22%	3.03%	3.47%	3.24%	3.73%	3.10%
XPH SPDR S&P Pharmaceuticals ETF	0.53%	0.83%	1.58%	1.28%	1.64%	0.95%	0.47%	0.64%	0.65%	0.67%	0.63%	7.15%

Frequently Asked Questions

Can I hold both XPH and NVS in my portfolio?

XPH and NVS have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XPH or NVS?

NVS has higher volatility (8.19%) compared to XPH (6.27%). In terms of maximum drawdown, XPH dropped -48.03% vs NVS's -42.10%.

Which has better risk-adjusted returns?

XPH currently has the higher Sharpe Ratio (2.55 vs 1.64), 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.