# How Novartis (NVS) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/nvs
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on NVS alone. It places NVS (Novartis AG) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where NVS stands in the market, and of the alternatives worth a closer look.

Period covered: NVS's full trading record, from September 1995 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** Over the past 6 months, NVS rose 1.8% against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. Not every peer went the same way. Over the past 6 months, ABBV (AbbVie) rose 43.8% and AZN (AstraZeneca) fell 15.3%.
- **Stock or market?:** NVS rose 2.7% over the past 3 months, 2.2 points behind the pharmaceuticals ETF IHE (iShares U.S. Pharmaceuticals ETF), which rose 5.0%. The S&P 500 rose 3.9%. Even so, last month cut against the tape: NVS rose 9.0% while the S&P 500 fell 0.6%.
- **Past 1 to 3 years:** NVS has outpaced the market, rising 18.8% over the past year against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100.
- **Long term:** NVS turned $10,000 into $32,600 over the past decade, against $42,100 in the S&P 500. That said, the past 5 years have been the better stretch: NVS rose 121% against 81.7% for the S&P 500, after trailing over the decade.
- **In a crash:** NVS fell less than the S&P 500 in six of seven sell-offs, but the 2015 China and oil sell-off broke the pattern: it fell 30.1%, more than the S&P 500's 12.8%.
- **Diversification:** Against the S&P 500, NVS has a correlation of 0.34 over 5 years, less closely than 63% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Over 10 years, NVS's beta versus the S&P 500 was 0.49: 69% of the S&P 500's gains in rising months and 64% of its losses in falling ones.
- **Better options**
  - **Popular alternatives:** LLY (Eli Lilly and Company), MCK (McKesson) and ABBV (AbbVie) were ahead of NVS in most short and long periods.
  - **Nearby categories and themes:** CAH (Cardinal Health, health care distribution) and COR (Cencora, health care distribution) were ahead of NVS in most short and long periods.
  - **Whole market:** Few investments have done better on both counts: only seven of the 3,633 stocks and funds worth at least $500 million earned more than NVS with less volatility over the past 5 years, among them MPLX, DXJ (WisdomTree Japan Hedged Equity Fund) and SDCI (USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund).

## How much would $10,000 in NVS have grown?

This chart tracks a hypothetical $10,000 investment in NVS over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of NVS over the same span and NVS's popular alternatives, among those that traded for the entire period.

- $10,000 invested in NVS at the end of September 1997 would have grown to $105,143 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- Six of the eight other investments on the chart ended ahead of NVS, and GILD finished highest, at $1,571,438.

## NVS at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- NVS's deepest decline since it began trading in 1995 was 41.8%, from January 1999 to March 2000. It took about four years from the low to climb back to its old high.
- Over 29 full calendar years, NVS's best was 1997, when it returned 52.9%, and its worst was 1999, when it lost 24.1%. It lost money in eight of those years.
- NVS is 7.1% below its all-time high.

- Type: Stock, Healthcare (Drug Manufacturers - General)
- Trading since: September 25, 1995
- Market value: $292B
- Volatility (5 years): 20.7%; Sharpe ratio: 0.87
- Worst decline ever: −41.8%, from January 7, 1999 to March 13, 2000; back at its high by December 31, 2003

| Period | NVS total return |
| --- | --- |
| 1 month | +9.0% |
| 3 months | +2.7% |
| 6 months | +1.8% |
| year to date | +13.1% |
| 1 year | +18.8% |
| 3 years | +75.9% |
| 5 years | +121% |
| 10 years | +226% |

## NVS against the whole market

Where NVS ranks among every stock and fund, and what across the market has done better.

### How does NVS rank among all stocks?

This section ranks NVS on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- NVS's worst decline of the past 10 years ranks in the top 1% of the 2,187 stocks worth at least $300 million, where the top fell the least.

| Measure | NVS | Rank |
| --- | --- | --- |
| 1-year return | +18.8% | 1,273 of 3,287 (top 39%) |
| 3-year return | +75.9% | 1,180 of 3,017 (top 40%) |
| 5-year return | +121% | 570 of 2,893 (top 20%) |
| 10-year return | +226% | 778 of 2,202 (top 36%) |
| Volatility, 5 years | 20.7% | 110 of 2,893 (top 4%) |
| Sharpe ratio, 5 years | 0.87 | 200 of 2,893 (top 7%) |
| Worst decline, past 10 years | −26.8% | 9 of 2,187 (top 1%) |

### What has beaten NVS on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- One stock and six ETFs worth at least $500 million sit in the green region: each earned more than NVS over the past 5 years with smaller price swings. That is fewer than 1% of the 3,633 screened. Few investments beat it on both counts.
- Among those with at least half NVS's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 8% less than NVS's 20.7%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.87 for NVS.

### Is there a better investment than NVS?

The table below lists investments that beat NVS over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes.

- Among NVS's popular alternatives, LLY, MCK and ABBV were ahead of NVS in most short and long periods.
- Looking beyond its popular alternatives, CAH (health care distribution) and COR (health care distribution) were ahead of NVS in most short and long periods.
- Few investments have done better on both counts: only seven of the 3,633 stocks and funds worth at least $500 million earned more than NVS with less volatility over the past 5 years, among them MPLX, DXJ and SDCI.

The 5 strongest of 7 investments that beat NVS over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with NVS | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NVS: Novartis AG (this page) |  | +17.1% | 20.7% | 0.87 | −26.8% | +226% |  |  |
| [MPLX](https://easycompare.io/research/mplx): MPLX Lp | Oil & Gas Midstream | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.29 | Higher return, lower volatility; Higher return in most periods |
| DXJ: WisdomTree Japan Hedged Equity Fund | International Equity | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.35 | Higher return, lower volatility; Higher return in most periods |
| SDCI: USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | Bonds | +20.6% | 18.4% | 1.12 | −45.7% | — | 0.17 | Higher return, lower volatility; Higher return in most periods |
| DBJP: Xtrackers MSCI Japan Hedged Equity ETF | International | +20.9% | 19.2% | 1.09 | −31.3% | +348% | 0.31 | Higher return, lower volatility; Higher return in most periods |
| ENFR: Alerian Energy Infrastructure ETF | Broad Market | +18.4% | 19.1% | 0.98 | −62.6% | +183% | 0.43 | Higher return, lower volatility; Higher return in most periods |

## NVS against its popular alternatives

The investments people most often weigh against NVS, compared period by period and year by year.

### How do NVS's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- None of the 22 popular alternatives earned more than NVS over the past 5 years with smaller price swings, so every higher return on the map came with a bumpier ride.
- 14 of the 22 popular alternatives earned less than NVS over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, NVS returned 17.2% a year, more than the S&P 500's 12.7%, with higher volatility (20.7% against 17.1%).

### Has NVS consistently beaten its popular alternatives?

This section compares NVS with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Six of the 22 popular alternatives, led by LLY, ABBV and MCK, outperformed NVS in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- LLY, ABBV and MCK outperformed NVS in every long-term period and in all but one short-term period, the most consistent record in the group.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of NVS | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| NVS: Novartis AG (this page) | +18.8% | +75.9% | +121% | +226% |  |  | 0.87 |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | +59.7% | +124% | +451% | +1,807% | 5/5 short-term, 3/3 long-term | all-weather | 1.21 |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | +28.3% | +118% | +218% | +603% | 5/5 short-term, 3/3 long-term | all-weather | 1.11 |
| [MCK](https://easycompare.io/research/mck): McKesson Corporation | +31.3% | +131% | +413% | +586% | 5/5 short-term, 3/3 long-term | all-weather | 1.44 |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | +48.7% | +72.2% | +145% | +266% | 5/5 short-term, 2/3 long-term | consistent | 0.85 |
| [GILD](https://easycompare.io/research/gild): Gilead Sciences, Inc. | +30.3% | +121% | +180% | +200% | 4/5 short-term, 2/3 long-term | consistent | 0.95 |
| [TEVA](https://easycompare.io/research/teva): Teva Pharmaceutical Industries Limited | +110% | +403% | +303% | −3.6% | 4/5 short-term, 2/3 long-term | consistent | 0.86 |
| [TMO](https://easycompare.io/research/tmo): Thermo Fisher Scientific Inc. | +26.8% | +49.5% | +15.1% | +366% | 4/5 short-term, 1/3 long-term |  | 0.24 |
| [IQV](https://easycompare.io/research/iqv): IQVIA Holdings Inc. | +26.3% | +45.3% | +6.5% | +260% | 4/5 short-term, 1/3 long-term |  | 0.21 |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | +76.8% | +58.3% | +113% | +241% | 4/5 short-term, 1/3 long-term |  | 0.74 |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | +36.9% | +84.6% | +82.1% | +196% | 4/5 short-term, 1/3 long-term |  | 0.76 |
| VTRS: Viatris Inc. | +87.1% | +127% | +64.3% | −38.0% | 4/5 short-term, 1/3 long-term |  | 0.47 |
| XBI: State Street SPDR S&P Biotech ETF | +39.7% | +130% | +25.1% | +159% | 3/5 short-term, 1/3 long-term |  | 0.30 |
| [AZN](https://easycompare.io/research/azn): AstraZeneca PLC | +1.8% | +38.8% | +52.1% | +257% | 1/5 short-term, 1/3 long-term |  | 0.41 |
| BIIB: Biogen Inc. | +65.8% | −5.6% | −8.8% | −18.9% | 5/5 short-term, 0/3 long-term |  | 0.11 |
| [BMY](https://easycompare.io/research/bmy): Bristol-Myers Squibb Company | +47.8% | +25.8% | +30.6% | +74.8% | 4/5 short-term, 0/3 long-term |  | 0.34 |
| [PFE](https://easycompare.io/research/pfe): Pfizer Inc. | +30.5% | +19.2% | −8.3% | +55.0% | 4/5 short-term, 0/3 long-term |  | 0.06 |
| [TAK](https://easycompare.io/research/tak): Takeda Pharmaceutical Company Limited | +48.2% | +56.1% | +75.1% | +30.4% | 4/5 short-term, 0/3 long-term |  | 0.68 |
| [REGN](https://easycompare.io/research/regn): Regeneron Pharmaceuticals, Inc. | +40.7% | +0.8% | +44.9% | +120% | 3/5 short-term, 0/3 long-term |  | 0.40 |
| [DHR](https://easycompare.io/research/dhr): Danaher Corporation | +8.3% | +10.8% | −17.6% | +232% | 2/5 short-term, 0/3 long-term |  | 0.01 |
| [NVO](https://easycompare.io/research/nvo): Novo Nordisk A/S | −28.5% | −57.0% | −18.5% | +134% | 0/5 short-term, 0/3 long-term |  | 0.09 |
| [GSK](https://easycompare.io/research/gsk): GSK plc | +18.9% | +60.0% | +57.2% | +95.1% | 0/5 short-term, 0/3 long-term |  | 0.49 |
| [SNY](https://easycompare.io/research/sny): Sanofi | −13.4% | −10.0% | +3.0% | +61.5% | 0/5 short-term, 0/3 long-term |  | 0.15 |

### How did NVS do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where NVS ranked among its popular alternatives each year.

- NVS finished ahead of the S&P 500 in ten of its 29 full calendar years.
- Among its popular alternatives, IQV came out ahead of NVS most often, in eight of the 12 years both traded.
- Ranked against its popular alternatives each year, NVS finished in the top quarter in four of 29 years and in the bottom quarter in six. In 2025, it ranked 3 of 23.

| Year | NVS | SPY |
| --- | --- | --- |
| 2025 | +46.0% | +17.7% |
| 2024 | −0.5% | +24.9% |
| 2023 | +21.1% | +26.2% |
| 2022 | +6.6% | −18.2% |
| 2021 | −5.0% | +28.7% |
| 2020 | +2.2% | +18.3% |
| 2019 | +29.1% | +31.2% |
| 2018 | +6.2% | −4.6% |
| 2017 | +19.8% | +21.7% |
| 2016 | −11.8% | +12.0% |

## Risk and diversification

How NVS has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were NVS's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- Not every decline was the market's doing: NVS fell 41.8% from January 1999 to March 2000, while the S&P 500 rose 10.5%.
- The slowest recovery came after NVS fell 41.8% from January 1999 to March 2000; it did not regain that peak until December 2003, four years later.
- In three of NVS's five worst declines, the S&P 500 held up better over the same dates.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −41.8% | January 7, 1999 | March 13, 2000 | December 31, 2003 | +10.5% | dot-com bust |
| −41.7% | August 4, 2008 | March 3, 2009 | September 14, 2010 | −43.1% | 2008 financial crisis |
| −33.7% | July 20, 2015 | December 8, 2016 | March 13, 2019 | +8.8% | 2015 China and oil sell-off |
| −26.8% | February 12, 2020 | March 23, 2020 | January 19, 2021 | −33.5% | Covid crash |
| −21.4% | March 3, 1998 | October 5, 1998 | November 2, 1998 | −5.6% |  |

### How did NVS do in stock market crashes?

This section measures how far NVS, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- NVS fell less than the S&P 500 in seven of the ten crashes it has traded through. The clearest case was the dot-com bust, when NVS fell 25.7% and the S&P 500 fell 47.5%.
- Among its popular alternatives, AMGN held up best, falling less than NVS in six of the ten crashes they both traded through.

| Crash | Dates | NVS fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −25.7% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −41.7% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.6% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −14.5% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −30.1% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −6.6% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −9.9% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −25.5% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −20.4% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −1.1% | −3.4% |

### How closely does NVS move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- Over the past 10 years, NVS captured 69% of the S&P 500's gains in rising months and 64% of its losses in falling months, with a beta of 0.49. That is a defensive profile: it gave up some of the market's upside in exchange for smaller losses.
- LLY took just 6% of the S&P 500's losses, against 64% for NVS, while still keeping 101% of its gains.
- Eight of the 22 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than NVS's 1.08, led by LLY, MCK and ABBV.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| NVS: Novartis AG (this page) | 69.0% | 64.0% | 0.49 |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | 101% | 6.0% | 0.37 |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | 92.0% | 57.0% | 0.54 |
| [MCK](https://easycompare.io/research/mck): McKesson Corporation | 72.0% | 27.0% | 0.56 |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | 74.0% | 64.0% | 0.54 |
| [GILD](https://easycompare.io/research/gild): Gilead Sciences, Inc. | 52.0% | 36.0% | 0.35 |
| [TEVA](https://easycompare.io/research/teva): Teva Pharmaceutical Industries Limited | 55.0% | 116% | 1.11 |
| [TMO](https://easycompare.io/research/tmo): Thermo Fisher Scientific Inc. | 104% | 104% | 0.81 |
| [IQV](https://easycompare.io/research/iqv): IQVIA Holdings Inc. | 128% | 167% | 1.31 |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | 64.0% | 46.0% | 0.30 |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | 64.0% | 53.0% | 0.46 |
| VTRS: Viatris Inc. | 74.0% | 179% | 1.14 |
| XBI: State Street SPDR S&P Biotech ETF | 93.0% | 122% | 1.01 |
| [AZN](https://easycompare.io/research/azn): AstraZeneca PLC | 60.0% | 39.0% | 0.39 |
| BIIB: Biogen Inc. | 35.0% | 91.0% | 0.28 |
| [BMY](https://easycompare.io/research/bmy): Bristol-Myers Squibb Company | 55.0% | 75.0% | 0.41 |
| [PFE](https://easycompare.io/research/pfe): Pfizer Inc. | 52.0% | 81.0% | 0.54 |
| [TAK](https://easycompare.io/research/tak): Takeda Pharmaceutical Company Limited | 34.0% | 58.0% | 0.44 |
| [REGN](https://easycompare.io/research/regn): Regeneron Pharmaceuticals, Inc. | 55.0% | 66.0% | 0.19 |
| [DHR](https://easycompare.io/research/dhr): Danaher Corporation | 84.0% | 84.0% | 0.75 |
| [NVO](https://easycompare.io/research/nvo): Novo Nordisk A/S | 75.0% | 94.0% | 0.60 |
| [GSK](https://easycompare.io/research/gsk): GSK plc | 51.0% | 61.0% | 0.52 |
| [SNY](https://easycompare.io/research/sny): Sanofi | 53.0% | 74.0% | 0.46 |

### What diversifies NVS?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in NVS into DXJ would have cut the portfolio's volatility by 14% over the past 5 years and raised its annual return (+16.2% for NVS alone, +18.6% for the mix).
- FIX made money in six of the eight calendar years in which NVS lost money.
- Among large ETFs, DXJ, EMLP and SMH have moved largely independently of NVS over the past 5 years, with correlations of 0.48 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with NVS | 5Y return | Volatility | Sharpe | Rose in NVS's 8 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.35 | +225% | 19.1% | 1.34 | 4 of 8 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.48 | +101% | 14.5% | 1.04 | 3 of 8 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.13 | +323% | 36.9% | 0.97 | 4 of 8 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.42 | +126% | 18.9% | 0.96 | 4 of 8 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.25 | +136% | 20.8% | 0.93 | 3 of 8 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.32 | +177% | 25.5% | 0.93 | 5 of 8 |
| FDVV: Fidelity High Dividend ETF | 0.49 | +85.9% | 14.6% | 0.92 | 2 of 8 |
| VLUE: iShares MSCI USA Value Factor ETF | 0.39 | +109% | 18.4% | 0.90 | 3 of 8 |

## Common questions

### What was NVS's worst drawdown?

NVS's deepest decline since it began trading in 1995 was 41.8%, from January 1999 to March 2000. It took about four years from the low to climb back to its old high.

### What were NVS's best and worst years?

Over 29 full calendar years, NVS's best year was 1997, when it returned 52.9%. Its worst was 1999, with a return of -24.1%.

### Is there a better investment than NVS?

Among NVS's popular alternatives, LLY, MCK and ABBV were ahead of NVS in most short and long periods. Looking beyond its popular alternatives, CAH (health care distribution) and COR (health care distribution) were ahead of NVS in most short and long periods.

### Is NVS more volatile than the S&P 500?

Yes. NVS's volatility over the past 5 years was 20.7%, 1.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, NVS's return lands within 20.7% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is NVS's Sharpe ratio?

NVS's Sharpe ratio over the past 5 years was 0.87, against 0.79 for the S&P 500, so NVS earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is NVS with the S&P 500?

Over the past 5 years, NVS's monthly returns had a correlation of 0.34 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against NVS instead: the lower it is, the more that option would diversify a NVS holding.

### What are the best alternatives to NVS?

Of the 22 popular alternatives we compared, six outperformed NVS in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: LLY, ABBV and MCK.

### Did NVS outperform the S&P 500?

NVS finished ahead of the S&P 500 (SPY) in ten of 29 full calendar years. In 2025, it returned +46.0%, against +17.7% for the index.

### How did NVS do in stock market crashes?

NVS fell less than the S&P 500 (SPY) in seven of the ten major crashes it has traded through, and further in two. The clearest case was the dot-com bust, when NVS fell 25.7% and the S&P 500 fell 47.5%.

### What diversifies NVS?

These had a low correlation with NVS over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.35), EMLP (correlation 0.48) and SMH (correlation 0.13); among large stocks, CAH (correlation 0.34), CLS (correlation -0.13) and FIX (correlation 0.03). A correlation near zero means the two have moved largely independently.

## More research

- [Eli Lilly and Company (LLY) Performance, Alternatives and Market Rank](https://easycompare.io/research/lly)
- [AbbVie (ABBV) Performance, Alternatives and Market Rank](https://easycompare.io/research/abbv)
- [McKesson (MCK) Performance, Alternatives and Market Rank](https://easycompare.io/research/mck)
- [Amgen (AMGN) Performance, Alternatives and Market Rank](https://easycompare.io/research/amgn)
- [Gilead Sciences (GILD) Performance, Alternatives and Market Rank](https://easycompare.io/research/gild)
- [Teva Pharmaceutical Industries (TEVA) Performance, Alternatives and Market Rank](https://easycompare.io/research/teva)
- [Thermo Fisher Scientific (TMO) Performance, Alternatives and Market Rank](https://easycompare.io/research/tmo)
- [IQVIA (IQV) Performance, Alternatives and Market Rank](https://easycompare.io/research/iqv)
- [Merck & Co., Inc. (MRK) Performance, Alternatives and Market Rank](https://easycompare.io/research/mrk)
- [Johnson & Johnson (JNJ) Performance, Alternatives and Market Rank](https://easycompare.io/research/jnj)
- [AstraZeneca (AZN) Performance, Alternatives and Market Rank](https://easycompare.io/research/azn)
- [Bristol-Myers Squibb (BMY) Performance, Alternatives and Market Rank](https://easycompare.io/research/bmy)

## Explore further

- Full page with charts: https://easycompare.io/research/nvs
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against NVS live: https://betterthanspy.com/?b=NVS&utm_source=easycompare&utm_medium=research