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

> Source: EasyCompare research, https://easycompare.io/research/abev
> 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 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.

## Key findings

- **Right now:** ABEV is 40.3% below its high, bear-market territory, while the S&P 500 sits 1.3% below a record. On the flip side, it has outpaced the market, rising 8.1% over the past 3 months against 3.9% for the S&P 500 and 3.2% for the Nasdaq 100.
- **Stock or market?:** ABEV rose 8.1% over the past 3 months, 4.1 points ahead of the alcoholic beverages ETF XLP (State Street Consumer Staples Select Sector SPDR ETF), which rose 4.1%. The S&P 500 rose 3.9%. Last month cut against the tape: ABEV rose 11.8% while the S&P 500 fell 0.6%.
- **Past 1 to 3 years:** Over the past year, ABEV rose 53.0% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The past 3 years (ahead of 54% of the stocks worth at least $300 million) have been far stronger than the record over 10 years (behind 87% of them).
- **Long term:** ABEV turned $10,000 into $7,890 over the past decade, against $42,100 in the S&P 500. ABEV's 10-year loss of 21.1% puts it behind 87% of the stocks worth at least $300 million with that much history. The S&P 500 returned 321%.
- **In a crash:** Across seven sell-offs, ABEV has typically fallen 1.3 times as far as the S&P 500.
- **Diversification:** Over 10 years ABEV took more of the market's losses than of its gains: in the S&P 500's rising months it gained 49% as much as the index, and in falling months it lost 1.2 times as much, with a beta of 0.85.
- **Better options**
  - **Popular alternatives:** KOF (Coca-Cola FEMSA, S.A.B. de C.V.), CCEP (Coca-Cola Europacific Partners) and FMX (Fomento Económico Mexicano, S.A.B. de C.V.) 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%.
  - **Nearby categories and themes:** KO (Coca-Cola, food & beverages) and MNST (Monster Beverage, 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%.
  - **Whole market:** 476 of the 3,633 stocks and funds worth at least $500 million earned more than ABEV with less volatility over the past 5 years, among them AAPL (Apple), MSFT (Microsoft) and VTI (Vanguard Morningstar Total Stock Market ETF).

## 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.

- $10,000 invested in ABEV at the end of September 1997 would have grown to $151,187 by September 2026, more than the $132,907 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of ABEV, and MNST finished highest, at $45,663,831.

## 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.

- ABEV is still 40.3% below its all-time high.
- 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.
- Over 28 full calendar years, ABEV's best was 2004, when it returned 155%, and its worst was 2008, when it lost 43.8%. It lost money in 12 of those years.

- Type: Stock, Consumer Staples (Beverages - Alcoholic)
- Trading since: March 5, 1997
- Market value: $52B
- Volatility (5 years): 30.2%; Sharpe ratio: 0.46
- Worst decline ever: −74.1%, from February 19, 2013 to May 13, 2020; not yet back at its high

| Period | ABEV total return |
| --- | --- |
| 1 month | +11.8% |
| 3 months | +8.1% |
| 6 months | +8.9% |
| year to date | +35.5% |
| 1 year | +53.0% |
| 3 years | +62.0% |
| 5 years | +60.4% |
| 10 years | −21.1% |

## 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.

- ABEV's 10-year return ranks in the bottom 13% of the 2,202 stocks worth at least $300 million with 10 years of history.
- ABEV's 1-year return ranks in the top 16% of the 3,287 stocks worth at least $300 million with 1 year of history.

| Measure | ABEV | Rank |
| --- | --- | --- |
| 1-year return | +53.0% | 512 of 3,287 (top 16%) |
| 3-year return | +62.0% | 1,375 of 3,017 (top 46%) |
| 5-year return | +60.4% | 993 of 2,893 (top 35%) |
| 10-year return | −21.1% | 1,918 of 2,202 (top 88%) |
| Volatility, 5 years | 30.2% | 741 of 2,893 (top 26%) |
| Sharpe ratio, 5 years | 0.46 | 1,031 of 2,893 (top 36%) |
| Worst decline, past 10 years | −72.4% | 1,367 of 2,187 (top 63%) |

### 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).

- 188 stocks and 288 ETFs worth at least $500 million sit in the green region: each earned more than ABEV over the past 5 years with smaller price swings. That is 13% of the 3,633 screened.
- Among those with at least half ABEV's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 18% less than ABEV's 30.2%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.46 for ABEV.
- Among ABEV's popular alternatives, KOF, CCEP and FMX are in the region. KOF earned 22.3% a year against 9.9% a year for ABEV, at 24.7% volatility, 18% less than ABEV's 30.2%.

### Is there a better investment than ABEV?

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.

- 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%.
- Across the whole market, 476 of the 3,633 stocks and funds worth at least $500 million earned more than ABEV with less volatility over the past 5 years, among them AAPL, MSFT and VTI.

The 15 strongest of 476 investments that beat ABEV 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 ABEV | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ABEV: Ambev S.A. (this page) |  | +9.9% | 30.2% | 0.46 | −72.4% | −21.1% |  |  |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | Pharmaceuticals | +16.3% | 24.8% | 0.74 | −43.4% | +241% | 0.26 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | Biotechnology | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.28 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.44 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | Food & Beverages | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.51 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| NEU: NewMarket Corporation | Specialty Chemicals | +21.0% | 26.8% | 0.85 | −40.7% | +165% | 0.18 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.51 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [XOM](https://easycompare.io/research/xom): Exxonmobil Holdings Corporation | Integrated Oil & Gas | +27.1% | 26.5% | 1.04 | −61.0% | +214% | 0.26 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| THG: The Hanover Insurance Group, Inc. | Property & Casualty Insurance | +14.4% | 22.9% | 0.70 | −40.1% | +291% | 0.15 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| NHC: National HealthCare Corporation | Medical - Care Facilities | +32.0% | 28.5% | 1.12 | −35.3% | +394% | 0.26 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | Pharmaceuticals | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.18 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [V](https://easycompare.io/research/v): Visa Inc. | Payment Processing | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.20 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| KOF: Coca-Cola FEMSA, S.A.B. de C.V. | Food & Beverages | +22.3% | 24.7% | 0.94 | −55.1% | +119% | 0.56 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [CVX](https://easycompare.io/research/cvx): Chevron Corporation | Integrated Oil & Gas | +19.5% | 25.2% | 0.84 | −55.8% | +238% | 0.30 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MA](https://easycompare.io/research/ma): Mastercard Incorporated | Payment Processing | +12.4% | 23.8% | 0.61 | −41.0% | +541% | 0.19 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [SHEL](https://easycompare.io/research/shel): Shell plc | Integrated Oil & Gas | +21.0% | 24.8% | 0.90 | −67.2% | +233% | 0.15 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## 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.

- KOF, CCEP and FMX were both more rewarding and calmer than ABEV over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, ABEV returned 9.9% a year, less than the S&P 500's 12.7%, with higher volatility (30.2% against 17.1%).

### 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.

- None of the 11 popular alternatives outperformed ABEV in at least 3 of 5 short-term and 2 of 3 long-term timeframes. The closest was CCEP.
- KOF, CCEP and FMX earned more for the risk they took than ABEV (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of ABEV | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| ABEV: Ambev S.A. (this page) | +53.0% | +62.0% | +60.4% | −21.1% |  |  | 0.46 |
| [CCEP](https://easycompare.io/research/ccep): Coca-Cola Europacific Partners PLC | +28.3% | +116% | +146% | +292% | 2/5 short-term, 3/3 long-term |  | 0.90 |
| KOF: Coca-Cola FEMSA, S.A.B. de C.V. | +46.7% | +96.0% | +174% | +119% | 2/5 short-term, 3/3 long-term |  | 0.94 |
| [FMX](https://easycompare.io/research/fmx): Fomento Económico Mexicano, S.A.B. de C.V. | +44.0% | +53.7% | +92.9% | +79.7% | 1/5 short-term, 2/3 long-term |  | 0.64 |
| [BUD](https://easycompare.io/research/bud): Anheuser-Busch InBev SA/NV | +36.7% | +66.6% | +58.7% | −20.0% | 1/5 short-term, 2/3 long-term |  | 0.50 |
| [DEO](https://easycompare.io/research/deo): Diageo plc | −2.4% | −32.5% | −46.8% | +11.7% | 2/5 short-term, 1/3 long-term |  | -0.37 |
| BALL: Ball Corporation | +33.6% | +51.5% | −25.9% | +78.6% | 0/5 short-term, 1/3 long-term |  | -0.04 |
| SAM: The Boston Beer Company, Inc. | −16.3% | −50.1% | −64.0% | +17.9% | 0/5 short-term, 1/3 long-term |  | -0.34 |
| BF-B: Brown-Forman Corporation | +0.5% | −45.0% | −54.9% | −4.6% | 0/5 short-term, 1/3 long-term |  | -0.36 |
| STZ: Constellation Brands, Inc. | −3.3% | −38.5% | −33.2% | −6.6% | 0/5 short-term, 1/3 long-term |  | -0.19 |
| CCU: Compañía Cervecerías Unidas S.A. | −12.1% | +7.9% | −15.1% | −19.6% | 0/5 short-term, 1/3 long-term |  | 0.03 |
| TAP: Molson Coors Beverage Company | −9.9% | −23.7% | +4.6% | −51.6% | 0/5 short-term, 0/3 long-term |  | 0.17 |

### 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.

- ABEV finished ahead of the S&P 500 in 14 of its 28 full calendar years.
- Among its popular alternatives, FMX came out ahead of ABEV most often, in 15 of the 27 years both traded.
- Ranked against its popular alternatives each year, ABEV finished in the top quarter in eight of 28 years and in the bottom quarter in nine. In 2025, it ranked 1 of 12.

| Year | ABEV | SPY |
| --- | --- | --- |
| 2025 | +42.4% | +17.7% |
| 2024 | −30.1% | +24.9% |
| 2023 | +8.8% | +26.2% |
| 2022 | +2.3% | −18.2% |
| 2021 | −4.7% | +28.7% |
| 2020 | −32.8% | +18.3% |
| 2019 | +21.9% | +31.2% |
| 2018 | −37.7% | −4.6% |
| 2017 | +33.5% | +21.7% |
| 2016 | +14.1% | +12.0% |

## 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.

- In all five of ABEV's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: ABEV fell 74.1% from February 2013 to May 2020, while the S&P 500 rose 112%.
- The longest climb back to a previous high took 19 months, after ABEV fell 57.5% from June 1997 to December 1998.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −74.1% | February 19, 2013 | May 13, 2020 | not yet | +112% | 2015 China and oil sell-off |
| −60.8% | February 2, 2001 | October 22, 2002 | March 1, 2004 | −32.0% | dot-com bust |
| −60.4% | February 28, 2008 | October 22, 2008 | October 5, 2009 | −32.7% | 2008 financial crisis |
| −57.5% | June 19, 1997 | December 16, 1998 | July 18, 2000 | +31.9% |  |
| −50.8% | January 3, 2005 | June 9, 2005 | May 9, 2006 | +0.5% |  |

### 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.

- Among its popular alternatives, DEO held up best, falling less than ABEV in eight of the ten crashes they both traded through.
- ABEV fell further than the S&P 500 in five of the ten crashes it has traded through. The clearest case was the 2015 China and oil sell-off, when ABEV fell 30.4% and the S&P 500 fell 12.8%.

| Crash | Dates | ABEV fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −52.7% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −60.4% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | 0.0% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −17.6% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −30.4% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −4.4% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −18.8% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −42.9% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −25.8% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −2.7% | −3.4% |

### 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.

- Nine of the 11 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than ABEV's 0.41, led by CCEP, KOF and FMX.
- CCEP took just 56% of the S&P 500's losses, against 121% for ABEV, while still keeping 69% of its gains.
- Over the past 10 years, ABEV captured 49% of the S&P 500's gains in rising months and 121% of its losses in falling months, with a beta of 0.85. Its share of the market's losses was larger than its share of the gains.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| ABEV: Ambev S.A. (this page) | 49.0% | 121% | 0.85 |
| [CCEP](https://easycompare.io/research/ccep): Coca-Cola Europacific Partners PLC | 69.0% | 56.0% | 0.66 |
| KOF: Coca-Cola FEMSA, S.A.B. de C.V. | 63.0% | 73.0% | 0.68 |
| [FMX](https://easycompare.io/research/fmx): Fomento Económico Mexicano, S.A.B. de C.V. | 50.0% | 63.0% | 0.72 |
| [BUD](https://easycompare.io/research/bud): Anheuser-Busch InBev SA/NV | 51.0% | 125% | 1.04 |
| [DEO](https://easycompare.io/research/deo): Diageo plc | 46.0% | 94.0% | 0.61 |
| BALL: Ball Corporation | 51.0% | 73.0% | 0.74 |
| SAM: The Boston Beer Company, Inc. | 47.0% | 90.0% | 0.81 |
| BF-B: Brown-Forman Corporation | 34.0% | 80.0% | 0.56 |
| STZ: Constellation Brands, Inc. | 48.0% | 111% | 0.79 |
| CCU: Compañía Cervecerías Unidas S.A. | 51.0% | 117% | 0.73 |
| TAP: Molson Coors Beverage Company | 23.0% | 103% | 0.75 |

### 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).

- Moving a fifth of the money in ABEV into DXJ would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+6.9% for ABEV alone, +11.2% for the mix).
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of ABEV over the past 5 years, with correlations of 0.43 or lower, and each still earned a positive 5-year return.
- FIX made money in eight of the 12 calendar years in which ABEV lost money.

| Investment | Correlation with ABEV | 5Y return | Volatility | Sharpe | Rose in ABEV's 12 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.43 | +119% | 11.1% | 1.48 | 2 of 12 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.25 | +225% | 19.1% | 1.34 | 6 of 12 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.43 | +101% | 14.5% | 1.04 | 4 of 12 |
| FDL: First Trust Morningstar Dividend Leaders Index Fund | 0.44 | +91.8% | 14.4% | 0.98 | 5 of 12 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.21 | +323% | 36.9% | 0.97 | 6 of 12 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.40 | +85.0% | 13.8% | 0.96 | 6 of 12 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.31 | +126% | 18.9% | 0.96 | 4 of 12 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.23 | +136% | 20.8% | 0.93 | 3 of 12 |

## 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.

## More research

- [Coca-Cola Europacific Partners (CCEP) Performance, Alternatives and Market Rank](https://easycompare.io/research/ccep)
- [Fomento Económico Mexicano, S.A.B. de C.V. (FMX) Performance, Alternatives and Market Rank](https://easycompare.io/research/fmx)
- [Anheuser-Busch InBev SA/NV (BUD) Performance, Alternatives and Market Rank](https://easycompare.io/research/bud)
- [Diageo (DEO) Performance, Alternatives and Market Rank](https://easycompare.io/research/deo)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/aapl)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)
- [Microsoft (MSFT) Performance, Alternatives and Market Rank](https://easycompare.io/research/msft)
- [Amazon.com (AMZN) Performance, Alternatives and Market Rank](https://easycompare.io/research/amzn)
- [Vanguard Morningstar Total Stock Market ETF (VTI) Performance, Alternatives and Market Rank](https://easycompare.io/research/vti)
- [Taiwan Semiconductor Manufacturing (TSM) Performance, Alternatives and Market Rank](https://easycompare.io/research/tsm)

## Explore further

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