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Relative Intelligence · Alcoholic Beverages

How Ambev (ABEV) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on ABEV alone. It places ABEV (Ambev S.A.) against 11 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 ABEV stands in the market, and of the alternatives worth a closer look.

Period covered: ABEV's full trading record, from March 1997 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against ABEV →Chart ABEV vs. 11 alternatives →
On this page12 sections

Key findings

How much would $10,000 in ABEV have grown?

This chart tracks a hypothetical $10,000 investment in ABEV over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of ABEV over the same span and ABEV's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 390 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of ABEV; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M$10M199720022007201220172022$10,000$100,000$1M$10M19972004201120182025
  • MNST$46M+456,538% total · +33.7% a year
  • COKE$514,380+5,044% total · +14.6% a year
  • BALL$345,859+3,359% total · +13.0% a year
  • STZ$228,856+2,189% total · +11.4% a year
  • SAM$192,964+1,830% total · +10.7% a year
  • ABEV$151,187+1,412% total · +9.8% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • CCEP$129,076+1,191% total · +9.2% a year
  • KOF$107,079+971% total · +8.5% a year
  • DEO$61,057+511% total · +6.4% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,759 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of ABEV; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$5,000$10,000$15,000$20,000$25,000202120222023202420252026$0$10,000$20,000$30,000202120222023202420252026
  • KOF$23,968+140% total · +19.1% a year
  • CCEP$21,567+116% total · +16.6% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • KO$18,994+89.9% total · +13.7% a year
  • MNST$18,739+87.4% total · +13.4% a year
  • FMX$16,809+68.1% total · +10.9% a year
  • BUD$14,007+40.1% total · +7.0% a year
  • ABEV$13,972+39.7% total · +6.9% a year
  • BALL$6,658−33.4% total · −7.8% a year
  • DEO$5,025−49.8% total · −12.9% a year
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ABEV 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. These figures serve as the baseline for every comparison that follows.

The company

Market value
$52B
Industry
Beverages - Alcoholic
Price history from
March 1997

Returns

Past 1 year
+53.0%total return
Past 3 years
+62.0%+17.4% a year
Past 5 years
+60.4%+9.9% a year
Past 10 years
−21.1%−2.3% a year
Best calendar year
+155%2004
Worst calendar year
−43.8%2008
Losing years
12 of 28full calendar years

Risk

Volatility
30.2%typical yearly swing, 5 years
Sharpe ratio
0.46return per unit of risk, 5 years
Worst decline ever
−74.1%Feb 2013 to May 2020
From its all-time high
−40.3%below the peak

ABEV against the whole market

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

How does ABEV rank among all stocks?

This section ranks ABEV on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how ABEV stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureABEVRankStanding
1-year return+53.0%512 of 3,287top 16%
3-year return+62.0%1,375 of 3,017top 46%
5-year return+60.4%993 of 2,893top 34%
10-year return−21.1%1,918 of 2,202bottom 14%
Volatility, 5 years30.2%741 of 2,893top 26%
Sharpe ratio, 5 years0.461,031 of 2,893top 36%
Worst decline, past 10 years−72.4%1,367 of 2,187bottom 38%

What has beaten ABEV 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). ABEV sits where the dashed lines cross. Anything in the green box above and to the left earned more than ABEV with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to ABEV; faint dots are 92 more of the 476 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than ABEVXOM: +27.1% a year, volatility 26.5%THG: +14.4% a year, volatility 22.9%NHC: +32.0% a year, volatility 28.5%ABBV: +26.1% a year, volatility 23.4%V: +12.8% a year, volatility 22.9%CVX: +19.5% a year, volatility 25.2%MA: +12.4% a year, volatility 23.8%SHEL: +21.0% a year, volatility 24.8%MCK: +38.7% a year, volatility 25.0%GILD: +22.8% a year, volatility 24.9%TD: +15.8% a year, volatility 20.0%TTE: +18.0% a year, volatility 25.8%E: +23.0% a year, volatility 25.6%EMR: +12.7% a year, volatility 27.7%XLE: +22.6% a year, volatility 25.5%TAK: +11.9% a year, volatility 19.4%FAST: +15.8% a year, volatility 24.6%MET: +12.0% a year, volatility 25.4%SDCI: +20.6% a year, volatility 18.4%IHG: +21.4% a year, volatility 26.6%RS: +24.8% a year, volatility 28.1%JNJ: +12.7% a year, volatility 17.9%RPRX: +13.3% a year, volatility 23.8%DGX: +12.3% a year, volatility 22.5%RGA: +19.7% a year, volatility 27.3%RNR: +20.1% a year, volatility 27.8%EWT: +20.4% a year, volatility 24.2%CIBR: +14.1% a year, volatility 26.1%VTV: +12.1% a year, volatility 13.7%VLUE: +15.9% a year, volatility 18.4%PSO: +18.5% a year, volatility 27.9%MSGS: +18.4% a year, volatility 25.6%GLD: +17.7% a year, volatility 18.9%LIN: +11.5% a year, volatility 20.9%PDBC: +11.7% a year, volatility 19.3%FLTW: +21.8% a year, volatility 24.3%MSM: +13.3% a year, volatility 25.1%TRV: +22.4% a year, volatility 22.3%IXC: +20.7% a year, volatility 23.2%VYM: +11.3% a year, volatility 13.8%MSFT: +12.5% a year, volatility 28.2%SO: +11.3% a year, volatility 18.8%RSG: +13.9% a year, volatility 18.5%DIVB: +13.9% a year, volatility 15.4%RY: +17.3% a year, volatility 18.2%ORLY: +15.9% a year, volatility 23.4%ETR: +19.2% a year, volatility 22.4%AEP: +12.4% a year, volatility 20.2%AZO: +12.3% a year, volatility 25.3%ED: +12.0% a year, volatility 18.8%AAPL: +18.5% a year, volatility 28.0%COMT: +13.1% a year, volatility 21.1%ATO: +14.9% a year, volatility 18.4%CRAK: +19.8% a year, volatility 20.9%FTXH: +11.9% a year, volatility 16.9%IGE: +18.2% a year, volatility 21.9%HDV: +12.9% a year, volatility 13.0%NI: +15.1% a year, volatility 20.3%TRST: +15.5% a year, volatility 26.8%RCBC: +14.6% a year, volatility 27.2%FLBR: +16.0% a year, volatility 27.7%QVAL: +13.7% a year, volatility 21.4%VTI: +11.5% a year, volatility 17.5%BWFG: +20.1% a year, volatility 28.5%DBEF: +13.1% a year, volatility 13.8%VOO: +12.8% a year, volatility 16.9%IOO: +15.7% a year, volatility 17.2%PNW: +13.4% a year, volatility 19.9%FDL: +13.9% a year, volatility 14.4%WMT: +20.8% a year, volatility 22.6%KT: +13.1% a year, volatility 22.6%JPM: +17.3% a year, volatility 24.3%HSBC: +33.1% a year, volatility 25.9%WTM: +15.4% a year, volatility 23.6%FTGC: +12.9% a year, volatility 15.6%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%QQQ: +14.5% a year, volatility 23.0%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%NVS: +17.1% a year, volatility 20.7%HFXI: +11.4% a year, volatility 15.3%WELL: +26.0% a year, volatility 23.8%RTX: +18.6% a year, volatility 24.3%CHCO: +15.9% a year, volatility 22.8%DHS: +12.0% a year, volatility 13.9%GS: +19.6% a year, volatility 28.6%QUS: +11.1% a year, volatility 14.2%BFC: +19.0% a year, volatility 27.3%TJX: +19.9% a year, volatility 22.3%VGT: +18.4% a year, volatility 26.0%ABEV: +9.9% a year, volatility 30.2%SPY (S&P 500): +12.7% a year, volatility 17.1%KOF: +22.3% a year, volatility 24.7%CCEP: +19.7% a year, volatility 23.2%FMX: +14.0% a year, volatility 25.7%DEO: −11.9% a year, volatility 25.6%BF-B: −14.7% a year, volatility 30.8%KO: +14.7% a year, volatility 16.8%MNST: +17.2% a year, volatility 24.9%PKG: +15.4% a year, volatility 25.8%COKE: +41.2% a year, volatility 38.0%PEP: −0.5% a year, volatility 19.1%MDLZ: +4.0% a year, volatility 20.2%MRK: +16.3% a year, volatility 24.8%AMGN: +19.6% a year, volatility 24.9%CAH: +42.1% a year, volatility 24.7%LLY: +40.7% a year, volatility 32.8%NEU: +21.0% a year, volatility 26.8%BRK-B: +13.4% a year, volatility 17.1%DJP: +11.2% a year, volatility 18.9%VIG: +10.4% a year, volatility 14.1%ABEVSPY (S&P 500)KOFCCEPFMXDEOBF-BKOMNSTCOKEPEPMDLZMRKCAHLLYNEUVIG0.0%10.0%20.0%30.0%40.0%−20.0%0.0%20.0%40.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than ABEVXOM: +27.1% a year, volatility 26.5%THG: +14.4% a year, volatility 22.9%NHC: +32.0% a year, volatility 28.5%ABBV: +26.1% a year, volatility 23.4%V: +12.8% a year, volatility 22.9%CVX: +19.5% a year, volatility 25.2%MA: +12.4% a year, volatility 23.8%SHEL: +21.0% a year, volatility 24.8%MCK: +38.7% a year, volatility 25.0%GILD: +22.8% a year, volatility 24.9%TD: +15.8% a year, volatility 20.0%TTE: +18.0% a year, volatility 25.8%E: +23.0% a year, volatility 25.6%EMR: +12.7% a year, volatility 27.7%XLE: +22.6% a year, volatility 25.5%TAK: +11.9% a year, volatility 19.4%FAST: +15.8% a year, volatility 24.6%MET: +12.0% a year, volatility 25.4%SDCI: +20.6% a year, volatility 18.4%IHG: +21.4% a year, volatility 26.6%RS: +24.8% a year, volatility 28.1%JNJ: +12.7% a year, volatility 17.9%RPRX: +13.3% a year, volatility 23.8%DGX: +12.3% a year, volatility 22.5%RGA: +19.7% a year, volatility 27.3%RNR: +20.1% a year, volatility 27.8%EWT: +20.4% a year, volatility 24.2%CIBR: +14.1% a year, volatility 26.1%VTV: +12.1% a year, volatility 13.7%VLUE: +15.9% a year, volatility 18.4%PSO: +18.5% a year, volatility 27.9%MSGS: +18.4% a year, volatility 25.6%GLD: +17.7% a year, volatility 18.9%LIN: +11.5% a year, volatility 20.9%PDBC: +11.7% a year, volatility 19.3%FLTW: +21.8% a year, volatility 24.3%MSM: +13.3% a year, volatility 25.1%TRV: +22.4% a year, volatility 22.3%IXC: +20.7% a year, volatility 23.2%VYM: +11.3% a year, volatility 13.8%MSFT: +12.5% a year, volatility 28.2%SO: +11.3% a year, volatility 18.8%RSG: +13.9% a year, volatility 18.5%DIVB: +13.9% a year, volatility 15.4%RY: +17.3% a year, volatility 18.2%ORLY: +15.9% a year, volatility 23.4%ETR: +19.2% a year, volatility 22.4%AEP: +12.4% a year, volatility 20.2%AZO: +12.3% a year, volatility 25.3%ED: +12.0% a year, volatility 18.8%AAPL: +18.5% a year, volatility 28.0%COMT: +13.1% a year, volatility 21.1%ATO: +14.9% a year, volatility 18.4%CRAK: +19.8% a year, volatility 20.9%FTXH: +11.9% a year, volatility 16.9%IGE: +18.2% a year, volatility 21.9%HDV: +12.9% a year, volatility 13.0%NI: +15.1% a year, volatility 20.3%TRST: +15.5% a year, volatility 26.8%RCBC: +14.6% a year, volatility 27.2%FLBR: +16.0% a year, volatility 27.7%QVAL: +13.7% a year, volatility 21.4%VTI: +11.5% a year, volatility 17.5%BWFG: +20.1% a year, volatility 28.5%DBEF: +13.1% a year, volatility 13.8%VOO: +12.8% a year, volatility 16.9%IOO: +15.7% a year, volatility 17.2%PNW: +13.4% a year, volatility 19.9%FDL: +13.9% a year, volatility 14.4%WMT: +20.8% a year, volatility 22.6%KT: +13.1% a year, volatility 22.6%JPM: +17.3% a year, volatility 24.3%HSBC: +33.1% a year, volatility 25.9%WTM: +15.4% a year, volatility 23.6%FTGC: +12.9% a year, volatility 15.6%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%QQQ: +14.5% a year, volatility 23.0%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%NVS: +17.1% a year, volatility 20.7%HFXI: +11.4% a year, volatility 15.3%WELL: +26.0% a year, volatility 23.8%RTX: +18.6% a year, volatility 24.3%CHCO: +15.9% a year, volatility 22.8%DHS: +12.0% a year, volatility 13.9%GS: +19.6% a year, volatility 28.6%QUS: +11.1% a year, volatility 14.2%BFC: +19.0% a year, volatility 27.3%TJX: +19.9% a year, volatility 22.3%VGT: +18.4% a year, volatility 26.0%ABEV: +9.9% a year, volatility 30.2%SPY (S&P 500): +12.7% a year, volatility 17.1%KOF: +22.3% a year, volatility 24.7%CCEP: +19.7% a year, volatility 23.2%FMX: +14.0% a year, volatility 25.7%DEO: −11.9% a year, volatility 25.6%BF-B: −14.7% a year, volatility 30.8%KO: +14.7% a year, volatility 16.8%MNST: +17.2% a year, volatility 24.9%PKG: +15.4% a year, volatility 25.8%COKE: +41.2% a year, volatility 38.0%PEP: −0.5% a year, volatility 19.1%MDLZ: +4.0% a year, volatility 20.2%MRK: +16.3% a year, volatility 24.8%AMGN: +19.6% a year, volatility 24.9%CAH: +42.1% a year, volatility 24.7%LLY: +40.7% a year, volatility 32.8%NEU: +21.0% a year, volatility 26.8%BRK-B: +13.4% a year, volatility 17.1%DJP: +11.2% a year, volatility 18.9%VIG: +10.4% a year, volatility 14.1%ABEVSPY (S&P 500)KOFCCEPDEOBF-BKOMNSTCOKEPEPMDLZCAHLLYVIG
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than ABEV?

Investments that beat ABEV over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat ABEV 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. It checks ABEV's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than ABEV follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than ABEV's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× ABEV's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than ABEV's.

Screen the whole market against ABEV for any period in BetterThanSPYOpen these 20 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with ABEV?lower diversifies moreExpenseper year
ABEVAmbev S.A. · this page
+9.9%30.2%0.46−72.4%−21.1%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.360.09%
Popular alternativesbest 5 shownThe investments people most often weigh against ABEV. 5 of 11 passed at least one test.
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+22.3%24.7%0.94−55.1%+119%0.56—
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst decline+19.7%23.2%0.90−48.8%+292%0.29—
FMXFomento Económico Mexicano, S.A.B. de C.V. · Convenience Stores
Higher return, lower volatilityHigher Sharpe, smaller worst decline+14.0%25.7%0.64−45.5%+79.7%0.44—
DEODiageo plc · Alcoholic Beverages
Smaller losses in recent crashes−11.9%25.6%-0.37−63.4%+11.7%0.35—
BF-BBrown-Forman Corporation · Alcoholic Beverages
Smaller losses in recent crashes−14.7%30.8%-0.36−68.9%−4.6%0.41—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Alcoholic Beverages and the categories next to it (Food & Beverages, Packaging), plus ABEV's specific themes. 11 of 31 passed at least one test.
KOThe Coca-Cola Company · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+14.7%16.8%0.91−37.0%+204%0.51—
MNSTMonster Beverage Corporation · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst decline+17.2%24.9%0.77−30.4%+285%0.37—
PKGPackaging Corporation of America · Packaging
Higher return, lower volatilityHigher Sharpe, smaller worst decline+15.4%25.8%0.69−38.2%+294%0.23—
COKECoca-Cola Consolidated, Inc. · Food & Beverages
Higher Sharpe, smaller worst declineHigher return in most periods+41.2%38.0%1.10−51.7%+1,569%0.14—
PEPPepsiCo, Inc. · Food & Beverages
Smaller losses in recent crashes−0.5%19.1%0.07−30.3%+72.6%0.34—
MDLZMondelez International, Inc. · Packaged Foods
Smaller losses in recent crashes+4.0%20.2%0.29−29.8%+93.4%0.45—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,195 of 3,591 passed at least one test.
MRKMerck & Co., Inc. · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+16.3%24.8%0.74−43.4%+241%0.26—
AMGNAmgen Inc. · Biotechnology
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+19.6%24.9%0.85−24.9%+266%0.28—
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+42.1%24.7%1.55−46.1%+349%0.44—
LLYEli Lilly and Company · Pharmaceuticals
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%0.23—
NEUNewMarket Corporation · Specialty Chemicals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+21.0%26.8%0.85−40.7%+165%0.18—
BRK-BBerkshire Hathaway Inc. · Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+13.4%17.1%0.82−29.6%+274%0.51—
DJPiPath Bloomberg Commodity Index Total Return(SM) ETN · Commodities
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+11.2%18.9%0.66−38.4%+120%0.240.70%
VIGVanguard Dividend Appreciation ETF · US Dividend Equity
Similar return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+10.4%14.1%0.78−31.7%+258%0.440.04%
What these numbers mean for ABEV
Annual return
ABEV returned 9.9% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $16,000. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
ABEV's volatility over the past 5 years was 30.2%, 1.8 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ABEV's return lands within 30.2% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
ABEV's Sharpe ratio over the past 5 years was 0.46, against 0.79 for the S&P 500, so ABEV earned less 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. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
ABEV's worst fall from a peak to a low over the past 10 years was 72.4%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 72.4% fall takes a 262% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, ABEV's monthly returns had a correlation of 0.36 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 ABEV instead: the lower it is, the more that option would diversify a ABEV holding. Guide: Correlation and diversification →
Show all 476 stocks and funds worth at least $500 million that earned more than ABEV with less volatility

Out of 3,633 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with ABEVExpense
1
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%0.26—
2
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%0.28—
3
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.44—
4
KOThe Coca-Cola Company · Food & Beverages
Same or nearby category+14.7%16.8%0.91−37.0%+204%0.51—
5
NEUNewMarket Corporation · Specialty Chemicals
Whole market+21.0%26.8%0.85−40.7%+165%0.18—
6
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.51—
7
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.1%26.5%1.04−61.0%+214%0.26—
8
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance
Whole market+14.4%22.9%0.70−40.1%+291%0.15—
9
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.26—
10
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.18—
11
VVisa Inc. · Payment Processing
Whole market+12.8%22.9%0.64−36.4%+429%0.20—
12
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Popular alternative+22.3%24.7%0.94−55.1%+119%0.56—
13
CVXChevron Corporation · Integrated Oil & Gas
Whole market+19.5%25.2%0.84−55.8%+238%0.30—
14
MAMastercard Incorporated · Payment Processing
Whole market+12.4%23.8%0.61−41.0%+541%0.19—
15
SHELShell plc · Integrated Oil & Gas
Whole market+21.0%24.8%0.90−67.2%+233%0.15—
16
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.22—
17
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.25—
18
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.45—
19
TTETotalEnergies SE · Integrated Oil & Gas
Whole market+18.0%25.8%0.78−59.6%+234%0.21—
20
DJPiPath Bloomberg Commodity Index Total Return(SM) ETN · Commodities
Whole market+11.2%18.9%0.66−38.4%+120%0.240.70%
21
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.0%25.6%0.94−61.4%+278%0.28—
22
EMREmerson Electric Co. · Industrial Machinery
Whole market+12.7%27.7%0.57−50.8%+309%0.21—
23
XLEState Street Energy Select Sector SPDR ETF · Energy Equity
Whole market+22.6%25.5%0.93−66.8%+189%0.300.08%
24
TAKTakeda Pharmaceutical Company Limited · Pharmaceuticals
Whole market+11.9%19.4%0.68−54.4%+30.4%0.31—
25
FASTFastenal Company · Industrial Distribution
Whole market+15.8%24.6%0.72−30.7%+576%0.30—
26
METMetLife, Inc. · Life Insurance
Whole market+12.0%25.4%0.58−55.2%+240%0.15—
27
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.100.80%
28
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.4%26.6%0.86−59.3%+383%0.22—
29
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.93−40.8%+626%0.33—
30
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%0.37—
31
RPRXRoyalty Pharma plc · Pharmaceuticals
Whole market+13.3%23.8%0.65−49.7%—0.24—
32
DGXQuest Diagnostics Incorporated · Medical Diagnostics
Whole market+12.3%22.5%0.63−36.6%+243%0.41—
33
RGAReinsurance Group of America, Incorporated · Insurance
Whole market+19.7%27.3%0.80−65.8%+199%0.05—
34
RNRRenaissanceRe Holdings Ltd. · Insurance
Whole market+20.1%27.8%0.80−40.7%+215%-0.04—
35
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+20.4%24.2%0.89−38.9%+468%0.190.59%
36
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Whole market+14.1%26.1%0.64−33.9%+454%0.240.58%
37
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Whole market+12.1%13.7%0.90−36.8%+235%0.480.03%
38
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+15.9%18.4%0.90−39.5%+286%0.430.15%
39
PSOPearson plc · Education Services
Whole market+18.5%27.9%0.75−58.4%+155%0.10—
40
MSGSMadison Square Garden Sports Corp. · Entertainment
Whole market+18.4%25.6%0.79−41.6%+432%0.34—
41
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.310.40%
42
LINLinde plc · Chemicals
Whole market+11.5%20.9%0.63−32.6%+394%0.43—
43
PDBCInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF · Broad Commodities
Whole market+11.7%19.3%0.67−40.7%+153%0.050.74%
44
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.200.19%
45
MSMMSC Industrial Direct Co., Inc. · Industrial Distribution
Whole market+13.3%25.1%0.63−48.2%+184%0.42—
46
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.32—
47
IXCiShares Global Energy ETF · International
Whole market+20.7%23.2%0.93−64.2%+183%0.310.37%
48
VYMVanguard High Dividend Yield ETF · US Dividend Equity
Whole market+11.3%13.8%0.85−35.2%+208%0.440.04%
49
MSFTMicrosoft Corporation · Software
Whole market+12.5%28.2%0.56−37.1%+946%0.09—
50
SOThe Southern Company · Electric Utilities
Whole market+11.3%18.8%0.67−38.4%+170%0.39—
51
RSGRepublic Services, Inc. · Environmental Services
Whole market+13.9%18.5%0.80−34.0%+446%0.38—
52
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.420.05%
53
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.34—
54
ORLYO'Reilly Automotive, Inc. · Specialty Retail
Whole market+15.9%23.4%0.75−42.0%+393%0.19—
55
ETREntergy Corporation · Electric Utilities
Whole market+19.2%22.4%0.90−42.0%+311%0.21—
56
AEPAmerican Electric Power Company, Inc. · Electric Utilities
Whole market+12.4%20.2%0.68−32.9%+185%0.41—
57
AZOAutoZone, Inc. · Specialty Retail
Whole market+12.3%25.3%0.59−42.1%+323%0.15—
58
EDConsolidated Edison, Inc. · Electric Utilities
Whole market+12.0%18.8%0.70−30.9%+114%0.48—
59
AAPLApple Inc. · Computer Hardware
Whole market+18.5%28.0%0.75−38.5%+1,168%0.36—
60
COMTiShares GSCI Commodity Dynamic Roll Strategy ETF · Commodities
Whole market+13.1%21.1%0.69−39.2%+160%0.000.49%
61
ATOAtmos Energy Corporation · Gas Utilities
Whole market+14.9%18.4%0.85−32.9%+194%0.42—
62
CRAKVanEck Oil Refiners ETF · Energy
Whole market+19.8%20.9%0.97−58.8%+336%0.240.61%
63
FTXHFirst Trust Nasdaq Pharmaceuticals ETF · Healthcare
Whole market+11.9%16.9%0.75−32.1%+153%0.320.60%
64
IGEiShares North American Natural Resources ETF · Broad Market
Whole market+18.2%21.9%0.88−60.6%+159%0.410.37%
65
HDViShares Core High Dividend ETF · US Dividend Equity
Whole market+12.9%13.0%1.00−37.0%+172%0.500.08%
66
NINiSource Inc · Gas Utilities
Whole market+15.1%20.3%0.80−30.9%+158%0.40—
67
TRSTTrustCo Bank Corp NY · Banks - Regional
Whole market+15.5%26.8%0.68−49.5%+126%0.24—
68
RCBCRiver City Bank · Banks - Regional
Whole market+14.6%27.2%0.64−45.5%+345%-0.10—
69
FLBRFranklin FTSE Brazil ETF · International
Whole market+16.0%27.7%0.68−57.4%—0.650.19%
70
QVALAlpha Architect U.S. Quantitative Value ETF · Broad Market
Whole market+13.7%21.4%0.71−51.5%+230%0.430.28%
71
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.5%17.5%0.71−35.0%+302%0.360.03%
72
BWFGBankwell Financial Group, Inc. · Banks - Regional
Whole market+20.1%28.5%0.79−64.7%+240%0.21—
73
DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity
Whole market+13.1%13.8%0.96−32.5%+206%0.400.35%
74
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.360.03%
75
IOOiShares Global 100 ETF · Global Equity
Whole market+15.7%17.2%0.94−31.4%+361%0.330.40%
76
PNWPinnacle West Capital Corporation · Electric Utilities
Whole market+13.4%19.9%0.73−39.3%+103%0.40—
77
FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity
Whole market+13.9%14.4%0.98−41.4%+199%0.440.43%
78
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.25—
79
KTKT Corporation · Integrated Telecommunications
Whole market+13.1%22.6%0.66−60.3%+84.9%0.22—
80
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+537%0.11—
81
HSBCHSBC Holdings plc · Banks
Whole market+33.1%25.9%1.24−62.3%+319%0.21—
82
WTMWhite Mountains Insurance Group, Ltd. · Insurance
Whole market+15.4%23.6%0.73−40.2%+169%0.06—
83
FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives
Whole market+12.9%15.6%0.86−35.9%+139%0.170.98%
84
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.250.48%
85
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.430.40%
86
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.29—
87
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.5%23.0%0.71−35.1%+553%0.290.18%
88
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.42—
89
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.31—
90
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.54—
91
HFXINYLI FTSE International Equity Currency Neutral ETF · International
Whole market+11.4%15.3%0.79−32.4%+180%0.500.19%
92
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.27—
93
RTXRTX Corporation · Aerospace & Defense
Whole market+18.6%24.3%0.83−52.0%+317%0.17—
94
CHCOCity Holding Company · Banks - Regional
Whole market+15.9%22.8%0.77−32.3%+286%0.23—
95
DHSWisdomTree U.S. High Dividend Fund · Dividend & Income
Whole market+12.0%13.9%0.89−37.4%+156%0.440.38%
96
GSThe Goldman Sachs Group, Inc. · Capital Markets
Whole market+19.6%28.6%0.77−48.8%+521%0.16—
97
QUSState Street SPDR MSCI USA StrategicFactors ETF · Broad Market
Whole market+11.1%14.2%0.81−33.8%+273%0.440.15%
98
BFCBank First Corporation · Banks - Regional
Whole market+19.0%27.3%0.78−39.8%+496%0.19—
99
TJXThe TJX Companies, Inc. · Specialty Retail
Whole market+19.9%22.3%0.93−42.5%+361%0.29—
100
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.240.09%

ABEV against its popular alternatives

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

How do ABEV'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. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at ABEV, which divides the map into what did better or worse on each measure.

Green points earned more than ABEV with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

15.0%20.0%25.0%30.0%35.0%40.0%−20.0%−10.0%0.0%10.0%20.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityABEV: 9.9% a year, volatility 30.2%SPY (S&P 500): 12.7% a year, volatility 17.1%CCEP: 19.7% a year, volatility 23.2%KOF: 22.3% a year, volatility 24.7%FMX: 14.1% a year, volatility 25.7%BALL: −5.8% a year, volatility 30.6%SAM: −18.5% a year, volatility 38.3%BF-B: −14.7% a year, volatility 30.8%BUD: 9.7% a year, volatility 25.0%DEO: −11.9% a year, volatility 25.6%STZ: −7.8% a year, volatility 25.4%CCU: −3.2% a year, volatility 29.3%TAP: 0.9% a year, volatility 26.0%ABEVSPY (S&P 500)CCEPKOFFMXBALLSAMBF-BBUDDEOSTZCCUTAP15.0%20.0%25.0%30.0%35.0%40.0%−20.0%−10.0%0.0%10.0%20.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityABEV: 9.9% a year, volatility 30.2%SPY (S&P 500): 12.7% a year, volatility 17.1%CCEP: 19.7% a year, volatility 23.2%KOF: 22.3% a year, volatility 24.7%FMX: 14.1% a year, volatility 25.7%BALL: −5.8% a year, volatility 30.6%SAM: −18.5% a year, volatility 38.3%BF-B: −14.7% a year, volatility 30.8%BUD: 9.7% a year, volatility 25.0%DEO: −11.9% a year, volatility 25.6%STZ: −7.8% a year, volatility 25.4%CCU: −3.2% a year, volatility 29.3%TAP: 0.9% a year, volatility 26.0%ABEVSPY (S&P 500)CCEPKOFFMXBALLSAMBF-BBUDDEOSTZCCUTAP
All figures
InvestmentAnnual returnVolatility
KOF Coca-Cola FEMSA, S.A.B. de C.V.+22.3%24.7%
CCEP Coca-Cola Europacific Partners PLC+19.7%23.2%
FMX Fomento Económico Mexicano, S.A.B. de C.V.+14.1%25.7%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
ABEV This pageAmbev S.A.+9.9%30.2%
BUD Anheuser-Busch InBev SA/NV+9.7%25.0%
TAP Molson Coors Beverage Company+0.9%26.0%
CCU Compañía Cervecerías Unidas S.A.−3.2%29.3%
BALL Ball Corporation−5.8%30.6%
STZ Constellation Brands, Inc.−7.8%25.4%
DEO Diageo plc−11.9%25.6%
BF-B Brown-Forman Corporation−14.7%30.8%
SAM The Boston Beer Company, Inc.−18.5%38.3%
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Has ABEV consistently beaten its popular alternatives?

This section compares ABEV with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than ABEV helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than ABEV over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
ABEV Ambev S.A. (this page)—+11.8%+8.1%+8.9%+35.5%+53.0%+62.0%+60.4%−21.1%30.2%0.46−72.4%—$52B—
CCEP Beverages - Non-AlcoholicCoca-Cola Europacific Partners PLC2/5 short3/3 long+12.8%+6.8%+17.8%+29.9%+28.3%+116%+146%+292%23.2%0.90−48.8%—$50B—
KOF Beverages - Non-AlcoholicCoca-Cola FEMSA, S.A.B. de C.V.2/5 short3/3 long+7.5%+15.1%+18.1%+28.7%+46.7%+96.0%+174%+119%24.7%0.94−55.1%—$25B—
FMX Beverages - Non-AlcoholicFomento Económico Mexicano, S.A.B. de C.V.1/5 short2/3 long+9.3%+0.8%+15.1%+36.5%+44.0%+53.7%+92.9%+79.7%25.7%0.64−45.5%—$44B—
BUD Beverages - AlcoholicAnheuser-Busch InBev SA/NV1/5 short2/3 long+6.9%+3.1%+12.3%+32.7%+36.7%+66.6%+58.7%−20.0%25.0%0.50−69.8%—$166B—
DEO Beverages - AlcoholicDiageo plc2/5 short1/3 long+9.0%+11.5%+15.2%+9.7%−2.4%−32.5%−46.8%+11.7%25.6%-0.37−63.4%—$52B—
BALL Packaging & ContainersBall Corporation0/5 short1/3 long+7.5%+3.4%+0.9%+21.4%+33.6%+51.5%−25.9%+78.6%30.6%-0.04−55.1%—$17B—
SAM Beverages - AlcoholicThe Boston Beer Company, Inc.0/5 short1/3 long+7.5%+2.0%−26.3%−7.8%−16.3%−50.1%−64.0%+17.9%38.3%-0.34−87.7%—$1.9B—
BF-B Beverages - Wineries & DistilleriesBrown-Forman Corporation0/5 short1/3 long+7.5%+7.3%−2.3%+10.3%+0.5%−45.0%−54.9%−4.6%30.8%-0.36−68.9%—$13B—
STZ Beverages - AlcoholicConstellation Brands, Inc.0/5 short1/3 long+12.1%−0.4%−15.7%−4.0%−3.3%−38.5%−33.2%−6.6%25.4%-0.19−56.0%—$22B—
CCU Beverages - AlcoholicCompañía Cervecerías Unidas S.A.0/5 short1/3 long−2.2%−3.4%−10.1%−13.5%−12.1%+7.9%−15.1%−19.6%29.3%0.03−61.8%—$2.0B—
TAP Beverages - AlcoholicMolson Coors Beverage Company0/5 short0/3 long+7.0%−2.3%−7.1%−12.3%−9.9%−23.7%+4.6%−51.6%26.0%0.17−67.0%—$7.5B—
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How did ABEV do year by year?

This table shows each investment's total return in every full calendar year since 1998, along with where ABEV ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with ABEV and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of ABEV; gray means the two finished within a fraction of a point. The rank row places ABEV among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of ABEV2025202420232022202120202019201820172016201520142013201220112010200920082007200620052004200320022001200019991998
ABEV This pageAmbev S.A.—+42.4%−30.1%+8.8%+2.3%−4.7%−32.8%+21.9%−37.7%+33.5%+14.1%−25.3%−11.1%−10.6%+49.9%+15.1%+57.3%+150%−43.8%+57.3%+37.6%−22.8%+155%+64.1%−21.7%−26.1%+123%+23.3%−28.0%
Rank among alternativesTop quarter in 8 of 281 of 1210 of 127 of 125 of 129 of 1212 of 125 of 1211 of 125 of 121 of 1211 of 129 of 1210 of 123 of 125 of 124 of 121 of 1110 of 111 of 115 of 1111 of 111 of 111 of 1111 of 1110 of 111 of 114 of 118 of 10
SPY S&P 500State Street SPDR S&P 500 ETF13 of 28+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%
CCEP Coca-Cola Europacific Partners PLC13 of 28+21.2%+18.3%+24.5%+2.3%+15.6%+0.5%+13.8%+18.6%+30.0%−9.3%+14.0%+2.5%+42.0%+26.0%+5.0%+74.8%+79.5%−52.9%+28.7%+7.6%−7.4%−3.9%+1.8%+15.4%+0.2%−4.9%−43.3%+1.0%
KOF Coca-Cola FEMSA, S.A.B. de C.V.15 of 28+27.1%−13.8%+45.1%+29.8%+24.9%−19.8%+2.5%−10.1%+12.4%−8.2%−16.1%−27.5%−17.0%+59.5%+18.3%+27.5%+53.2%−10.9%+31.0%+42.4%+15.2%+13.2%+18.7%−9.5%−9.3%+28.5%+33.8%−31.0%
FMX Fomento Económico Mexicano, S.A.B. de C.V.15 of 27+26.8%−32.0%+70.1%+2.9%+4.0%−17.8%+11.7%−6.9%+25.1%−16.2%+6.5%−10.1%+0.4%+46.8%+26.9%+18.3%+60.6%−20.2%0.0%+61.3%+39.4%+44.2%+2.3%+7.0%+17.1%−31.8%+68.9%—
BUD Anheuser-Busch InBev SA/NV6 of 16+30.5%−21.3%+9.0%+0.1%−12.7%−14.0%+27.7%−38.8%+9.6%−12.7%+14.9%+8.4%+25.6%+46.5%+8.8%+10.9%————————————
DEO Diageo plc14 of 28−29.3%−10.1%−16.3%−17.4%+41.7%−3.3%+21.4%−0.4%+44.2%−1.9%−1.4%−11.4%+16.3%+37.0%+21.6%+11.0%+27.5%−31.6%+11.7%+40.7%+4.6%+13.8%+25.7%−2.2%+8.1%+44.9%−28.5%+24.9%
BALL Ball Corporation14 of 28−2.4%−3.0%+14.2%−46.2%+4.1%+45.2%+41.9%+22.7%+1.8%+3.9%+7.5%+33.1%+16.7%+26.5%+5.7%+32.4%+25.5%−6.7%+4.1%+10.8%−8.9%+49.0%+17.5%+45.8%+55.1%+19.1%−12.5%+30.9%
SAM The Boston Beer Company, Inc.13 of 28−34.9%−13.2%+4.9%−34.8%−49.2%+163%+56.9%+26.0%+12.5%−15.9%−30.3%+19.8%+79.8%+23.8%+14.2%+104%+64.1%−24.6%+4.6%+43.9%+17.5%+17.3%+26.9%−16.6%+94.7%+22.5%−15.4%+8.8%
BF-B Brown-Forman Corporation13 of 28−29.3%−32.2%−11.9%−8.9%−6.0%+18.7%+43.8%−10.7%+54.9%−8.2%+14.5%+17.7%+21.3%+19.7%+17.8%+34.0%+6.8%−11.4%+17.0%−3.1%+44.7%+6.3%+46.0%+6.6%−4.0%+18.7%−23.0%+39.6%
STZ Constellation Brands, Inc.14 of 28−36.0%−7.1%+5.8%−6.4%+16.1%+17.4%+19.8%−28.7%+50.7%+8.7%+46.2%+39.5%+98.9%+71.2%−6.7%+39.0%+1.1%−33.3%−18.5%+10.6%+12.8%+41.3%+38.8%+10.7%+46.0%+14.9%−11.7%+4.5%
CCU Compañía Cervecerías Unidas S.A.12 of 28+15.9%−6.3%−2.2%−14.3%+26.0%−19.3%−20.8%−12.6%+44.0%−0.9%+19.5%−20.9%−21.2%+25.6%+8.1%+61.6%+51.7%−26.3%+20.9%+18.3%+0.4%+21.1%+59.7%−15.5%−13.2%−31.7%+73.6%−33.6%
TAP Molson Coors Beverage Company13 of 28−15.5%−3.4%+22.1%+14.4%+4.1%−15.2%−0.4%−29.9%−14.1%+5.4%+28.7%+35.7%+34.6%+1.3%−10.7%+13.9%−5.7%−3.8%+37.0%+16.4%−9.7%+36.6%−7.0%+16.3%−32.5%+54.9%−5.8%+72.5%
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Risk and diversification

How ABEV 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 ABEV's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents ABEV's five deepest drawdowns since it began trading in 1997, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means ABEV fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringABEV fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2015 China and oil sell-off−74.1%+112%Feb 2013May 20207.3 yearsNot yet—
Dot-com bust−60.8%−32.0%Feb 2001Oct 200220 monthsMar 200417 months
2008 financial crisis−60.4%−32.7%Feb 2008Oct 20088 monthsOct 200912 months
No named crash−57.5%+31.9%Jun 1997Dec 199818 monthsJul 200019 months
No named crash−50.8%+0.5%Jan 2005Jun 20055 monthsMay 200611 months

How did ABEV do in stock market crashes?

This section measures how far ABEV, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than ABEV.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
ABEV This pageAmbev S.A.—−2.7%−25.8%−42.9%−18.8%−4.4%−30.4%−17.6%0.0%−60.4%−52.7%
SPY S&P 500State Street SPDR S&P 500 ETF5 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
CCEP Coca-Cola Europacific Partners PLC5 of 10−1.5%−28.2%−47.6%−7.4%−2.9%−13.8%−20.4%−0.6%−71.0%−40.3%
KOF Coca-Cola FEMSA, S.A.B. de C.V.7 of 10−4.9%−12.4%−40.1%−10.3%−7.0%−19.3%−14.2%−0.4%−57.7%−35.1%
FMX Fomento Económico Mexicano, S.A.B. de C.V.5 of 10−3.9%−28.7%−39.6%−18.2%−8.2%−16.4%−16.0%−0.5%−61.0%−48.5%
BUD Anheuser-Busch InBev SA/NV3 of 8−1.3%−33.1%−52.2%−28.1%−7.7%−14.8%−16.2%−2.2%——
DEO Diageo plc8 of 10−0.5%−24.7%−36.2%−8.3%−4.9%−12.9%−12.9%−0.8%−53.2%−22.3%
BALL Ball Corporation6 of 10−5.6%−50.7%−33.9%−16.0%−3.7%−15.5%−23.5%−2.5%−49.4%−34.8%
SAM The Boston Beer Company, Inc.3 of 10−6.7%−43.9%−28.6%−24.3%−4.0%−36.7%−21.9%−1.4%−59.8%−29.7%
BF-B Brown-Forman Corporation6 of 10−3.1%−16.8%−34.8%−10.5%−5.5%−17.6%−18.0%−1.5%−34.0%−25.5%
STZ Constellation Brands, Inc.5 of 10−3.8%−16.3%−49.3%−31.1%−3.3%−12.4%−22.5%−5.5%−58.4%−30.2%
CCU Compañía Cervecerías Unidas S.A.4 of 10−5.7%−44.2%−30.3%−13.1%−5.4%−24.8%−19.1%−2.0%−46.0%−53.7%
TAP Molson Coors Beverage Company7 of 10−4.2%−20.7%−36.9%−16.6%−8.5%−12.1%−17.0%−2.0%−43.6%−45.4%
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How closely does ABEV 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. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares ABEV with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than ABEV's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
ABEV This pageAmbev S.A.49%121%0.410.85
CCEP Coca-Cola Europacific Partners PLC69%56%1.250.66
KOF Coca-Cola FEMSA, S.A.B. de C.V.63%73%0.860.68
FMX Fomento Económico Mexicano, S.A.B. de C.V.50%63%0.800.72
BALL Ball Corporation51%73%0.700.74
SAM The Boston Beer Company, Inc.47%90%0.520.81
DEO Diageo plc46%94%0.480.61
STZ Constellation Brands, Inc.48%111%0.440.79
CCU Compañía Cervecerías Unidas S.A.51%117%0.440.73
BF-B Brown-Forman Corporation34%80%0.430.56
BUD Anheuser-Busch InBev SA/NV51%125%0.401.04
TAP Molson Coors Beverage Company23%103%0.230.75
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What diversifies ABEV?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with ABEV's. Because such investments tend not to fall at the same time, pairing ABEV with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which ABEV lost money. The last two columns show a portfolio that is 80% ABEV and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe20242021202020182015201420132008200520022001199880/20 mix volatility80/20 mix annual return
ABEV Ambev S.A. (this page)1.00+60.4%0.46−30.1%−4.7%−32.8%−37.7%−25.3%−11.1%−10.6%−43.8%−22.8%−21.7%−26.1%−28.0%25.3%+6.9%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.43+119%1.48+15.9%+17.8%−9.0%−5.2%————————21.1%+9.3%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.25+225%1.34+29.8%+18.0%+3.9%−19.8%+7.7%+8.1%+41.3%−20.8%————21.0%+11.2%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.43+101%1.04+33.4%+23.1%−13.4%−8.7%−25.3%+23.8%+16.6%—————21.6%+9.0%
FDL Dividend & IncomeFirst Trust Morningstar Dividend Leaders Index Fund0.44+91.8%0.98+18.0%+26.1%−4.3%−6.0%+2.6%+13.2%+22.6%−31.1%————21.8%+8.6%
SMH TechnologyVanEck Semiconductor ETF0.21+323%0.97+39.1%+42.1%+55.5%−9.1%−0.3%+30.2%+33.4%−44.7%+10.8%−47.0%−14.6%—22.7%+13.7%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.40+85.0%0.96+13.4%+19.6%+2.1%−9.5%+4.1%+3.4%+26.4%—————21.2%+8.7%
GLD CommoditiesSPDR Gold Shares0.31+126%0.96+26.7%−4.2%+24.8%−1.9%−10.7%−2.2%−28.3%+4.9%+17.8%———21.5%+9.7%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.23+136%0.93+45.8%+22.7%+28.2%−0.9%————————21.5%+10.4%

Stocks

InvestmentCorrelation5Y returnSharpe20242021202020182015201420132008200520022001199880/20 mix volatility80/20 mix annual return
ABEV Ambev S.A. (this page)1.00+60.4%0.46−30.1%−4.7%−32.8%−37.7%−25.3%−11.1%−10.6%−43.8%−22.8%−21.7%−26.1%−28.0%25.3%+6.9%
CAH Medical - DistributionCardinal Health, Inc.0.44+479%1.55+19.0%−0.4%+10.1%−24.5%+12.6%+23.0%+66.0%−39.6%+18.7%−8.3%−2.5%+51.7%23.0%+13.2%
CLS Hardware, Equipment & PartsCelestica Inc.-0.15+3,143%1.47+215%+37.9%−2.4%−16.3%−6.0%+12.9%+27.6%−20.5%−25.2%−65.1%−25.6%—21.7%+26.6%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.20+1,636%1.46+107%+89.0%+6.7%+0.8%+67.7%−10.4%+61.7%−15.2%+20.1%−9.4%+73.7%−9.5%23.6%+21.9%
MCK Medical - DistributionMcKesson Corporation0.22+413%1.44+23.7%+44.2%+27.1%−28.4%−4.5%+29.3%+67.7%−40.4%+64.9%−27.2%+4.9%+46.9%21.9%+12.8%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.18+690%1.41−4.0%+61.0%−27.4%−8.2%+17.4%+0.4%+48.6%—————22.3%+15.4%
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Common questions

What was ABEV's worst drawdown?

ABEV's deepest decline since it began trading in 1997 was 74.1%, from February 2013 to May 2020. It has not yet climbed back to that peak.

What were ABEV's best and worst years?

Over 28 full calendar years, ABEV's best year was 2004, when it returned 155%. Its worst was 2008, with a return of -43.8%.

Is there a better investment than ABEV?

Among ABEV's popular alternatives, KOF, CCEP and FMX earned more than ABEV with less volatility over the past 5 years. KOF returned 22.3% a year at 24.7% volatility, against 9.9% a year at 30.2%. Looking beyond its popular alternatives, KO (food & beverages) and MNST (food & beverages) earned more than ABEV with less volatility over the past 5 years. KO returned 14.7% a year at 16.8% volatility, against 9.9% a year at 30.2%.

Is ABEV more volatile than the S&P 500?

Yes. ABEV's volatility over the past 5 years was 30.2%, 1.8 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ABEV's return lands within 30.2% 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 ABEV's Sharpe ratio?

ABEV's Sharpe ratio over the past 5 years was 0.46, against 0.79 for the S&P 500, so ABEV earned less 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 ABEV with the S&P 500?

Over the past 5 years, ABEV's monthly returns had a correlation of 0.36 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 ABEV instead: the lower it is, the more that option would diversify a ABEV holding.

What are the best alternatives to ABEV?

None of the 11 popular alternatives we compared outperformed ABEV in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about ABEV's strength than about its alternatives.

Did ABEV outperform the S&P 500?

ABEV finished ahead of the S&P 500 (SPY) in 14 of 28 full calendar years. In 2025, it returned +42.4%, against +17.7% for the index.

How did ABEV do in stock market crashes?

ABEV fell less than the S&P 500 (SPY) in three of the ten major crashes it has traded through, and further in five. The clearest case was the 2015 China and oil sell-off, when ABEV fell 30.4% and the S&P 500 fell 12.8%.

What diversifies ABEV?

These had a low correlation with ABEV over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.43), DXJ (correlation 0.25) and EMLP (correlation 0.43); among large stocks, CAH (correlation 0.44), CLS (correlation -0.15) and FIX (correlation 0.20). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to ABEV

Other stocks and ETFs