Relative Intelligence · Travel Services
How Airbnb (ABNB) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on ABNB alone. It places ABNB (Airbnb, Inc.) against 10 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 ABNB stands in the market, and of the alternatives worth a closer look.
Period covered: ABNB's full trading record, from December 2020 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. 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.
On this page12 sections
Key findings
- Right nowABNB has run far ahead of the market, rising 22.1% over the past 3 months against 3.9% for the S&P 500 and 3.2% for the Nasdaq 100. At a glance ↓
- Stock or market?More than an industry move: ABNB rose 22.1% over the past 3 months, against 1.0% for the consumer discretionary sector ETF XLY (State Street Consumer Discretionary Select Sector SPDR ETF). The S&P 500 rose 3.9%. ABNB rose 6.1% last month as the S&P 500 fell 0.6% and the Nasdaq 100 fell 3.2%.
- Past 1 to 3 yearsOver the past year, ABNB rose 39.1% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. On the flip side, the last two calendar years both went the same way: ABNB rose 3.3% in 2025, against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. By year ↓
- Long termABNB turned $10,000 into $10,400 over the past 5 years, against $18,200 in the S&P 500. Growth of $10,000 ↓
- In a crashThe 2022 bear market took 52.3% off ABNB, against 24.5% for the S&P 500. That was more than BKNG (Booking, 39.5%) but less than EXPE (Expedia Group, 58.2%). Crash tests ↓
- DiversificationABNB is some diversification, but not a hedge: a correlation of 0.51 with the S&P 500 over 5 years and 0.53 with the total US market, more closely than 76% of stocks worth at least $300 million. Over 5 years, ABNB's beta versus the S&P 500 was 1.23: in the S&P 500's rising months it gained 69% as much as the index, and in falling months it lost 1.3 times as much. Market capture ↓
- Better options
- Popular alternatives
- HLT (Hilton Worldwide), BKNG (Booking) and MAR (Marriott International) earned more than ABNB with less volatility over the past 5 years. HLT returned 21.0% a year at 26.8% volatility, against 0.8% a year at 44.3%.
- Nearby categories and themes
- V (Visa, payment processing) and MA (Mastercard, payment processing) earned more than ABNB with less volatility over the past 5 years. V returned 12.8% a year at 22.9% volatility, against 0.8% a year at 44.3%.
- Whole market
- 1,797 of the 3,633 stocks and funds worth at least $500 million earned more than ABNB with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and MSFT (Microsoft).
How much would $10,000 in ABNB have grown?
This chart tracks a hypothetical $10,000 investment in ABNB over the past 5 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of ABNB over the same span and ABNB's popular alternatives, among those that traded for the entire period. It shows not only where each investment ended up but also how smooth or uneven the path was.
Note: ABNB began trading on December 10, 2020, so the chart cannot reach back to the dot-com bust, the 2008 financial crisis or six other sell-offs. It covers the most recent 5 years of ABNB's record, starting at the end of September 2021.
- $10,000 invested in ABNB at the end of September 2021 would have grown to $9,577 by September 2026, less than the $19,000 it would have become in SPY, an S&P 500 fund.
- All eight other investments on the chart ended ahead of ABNB, and MAR finished highest, at $25,049.
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 2,648 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of ABNB; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- MAR$25,049+150% total · +20.2% a year
- HLT$24,416+144% total · +19.5% a year
- H$20,871+109% total · +15.9% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- BKNG$17,565+75.6% total · +11.9% a year
- MMYT$17,359+73.6% total · +11.7% a year
- EXPE$16,292+62.9% total · +10.3% a year
- TCOM$12,773+27.7% total · +5.0% a year
- WH$10,245+2.4% total · +0.5% a year
- ABNB$9,577−4.2% total · −0.9% a year
ABNB 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.
Note: ABNB began trading on December 10, 2020, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust, the 2008 financial crisis or six other sell-offs.
- ABNB's deepest decline since it began trading in 2020 was 62.0%, from February 2021 to December 2022. It has not yet climbed back to that peak.
- Over five full calendar years, ABNB's best was 2023, when it returned 59.2%, and its worst was 2022, when it lost 48.6%. It lost money in two of those years.
- ABNB is 18.4% below its all-time high.
The company
- Market value
- $106B
- Industry
- Travel Services
- Price history from
- December 2020
Returns
- Past 1 year
- +39.1%total return
- Past 3 years
- +51.9%+15.0% a year
- Past 5 years
- +4.2%+0.8% a year
- Best calendar year
- +59.2%2023
- Worst calendar year
- −48.6%2022
- Losing years
- 2 of 5full calendar years
Risk
- Volatility
- 44.3%typical yearly swing, 5 years
- Sharpe ratio
- 0.24return per unit of risk, 5 years
- Worst decline ever
- −62.0%Feb 2021 to Dec 2022
- From its all-time high
- −18.4%below the peak
ABNB against the whole market
Where ABNB ranks among every stock and fund, and what across the market has done better.
How does ABNB rank among all stocks?
This section ranks ABNB 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 ABNB stacks up against its peers, these rankings show where it stands in the market as a whole.
- ABNB's 1-year return ranks in the top 23% of the 3,287 stocks worth at least $300 million with 1 year of history.
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.
| Measure | ABNB | Rank | Standing |
|---|---|---|---|
| 1-year return | +39.1% | 749 of 3,287 | top 23% |
| 3-year return | +51.9% | 1,512 of 3,017 | top 50% |
| 5-year return | +4.2% | 1,673 of 2,893 | bottom 43% |
| Volatility, 5 years | 44.3% | 1,670 of 2,893 | bottom 43% |
| Sharpe ratio, 5 years | 0.24 | 1,732 of 2,893 | bottom 41% |
What has beaten ABNB 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). ABNB sits where the dashed lines cross. Anything in the green box above and to the left earned more than ABNB 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.
- 987 stocks and 810 ETFs worth at least $500 million sit in the green region: each earned more than ABNB over the past 5 years with smaller price swings. That is 49% of the 3,633 screened.
- Among those with at least half ABNB's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 44% less than ABNB's 44.3%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.24 for ABNB. INSW earned the most, 56.5% a year, while still swinging less than ABNB (40.5% against 44.3%).
- Among ABNB's popular alternatives, HLT, MAR and H are in the region. HLT earned 21.0% a year against 0.8% a year for ABNB, at 26.8% volatility, 40% less than ABNB's 44.3%.
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 ABNB; faint dots are 92 more of the 1,797 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.
- Popular alternatives
- Same and neighboring categories, and shared themes
- The whole market
- Others in the green region
Is there a better investment than ABNB?
Investments that beat ABNB over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among ABNB's popular alternatives, HLT, BKNG and MAR earned more than ABNB with less volatility over the past 5 years. HLT returned 21.0% a year at 26.8% volatility, against 0.8% a year at 44.3%.
- Looking beyond its popular alternatives, V (payment processing) and MA (payment processing) earned more than ABNB with less volatility over the past 5 years. V returned 12.8% a year at 22.9% volatility, against 0.8% a year at 44.3%.
- Across the whole market, 1,797 of the 3,633 stocks and funds worth at least $500 million earned more than ABNB with less volatility over the past 5 years, among them AAPL, GOOG and MSFT.
How this works
The table below lists investments that beat ABNB 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 ABNB'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 ABNB 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 ABNB'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× ABNB's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than ABNB's.
| Investment | Why it is better | Past 5 years | Downside | Long run | Fit | ||||
|---|---|---|---|---|---|---|---|---|---|
| Annual return?higher is better | Volatility?lower is calmer | Sharpe?return per unit of risk | Worst decline?past 10 years | 5Y returntotal | Corr. with ABNB?lower diversifies more | Expenseper year | |||
| ABNBAirbnb, Inc. · this page | +0.8% | 44.3% | 0.24 | −62.0% | +4.2% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +81.7% | 0.51 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against ABNB. 7 of 10 passed at least one test. | |||||||||
 HLTHilton Worldwide Holdings Inc. · Hotels & Resorts | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +21.0% | 26.8% | 0.85 | −50.8% | +160% | 0.61 | — | |
 BKNGBooking Holdings Inc. · Travel Services | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +12.0% | 33.2% | 0.51 | −47.8% | +75.9% | 0.56 | — | |
 MARMarriott International, Inc. · Hotels & Resorts | Higher return, lower volatility | +22.0% | 28.6% | 0.84 | −61.3% | +170% | 0.53 | — | |
HHyatt Hotels Corporation · Hotels & Resorts | Higher return, lower volatility | +16.6% | 34.3% | 0.62 | −60.5% | +116% | 0.48 | — | |
EXPEExpedia Group, Inc. · Travel Services | Higher return, similar volatility | +13.2% | 46.5% | 0.50 | −70.5% | +86.3% | 0.58 | — | |
WHWyndham Hotels & Resorts, Inc. · Hotels & Resorts | Similar return, lower volatility | +1.0% | 29.9% | 0.18 | −66.1% | +4.9% | 0.38 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Travel Services and the categories next to it (Hotels & Resorts, Cruise Lines, Payment Processing, Airlines), plus ABNB's specific themes. 8 of 23 passed at least one test. | |||||||||
 VVisa Inc. · Payment Processing | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +12.8% | 22.9% | 0.64 | −36.4% | +82.5% | 0.42 | — | |
 MAMastercard Incorporated · Payment Processing | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +12.4% | 23.8% | 0.61 | −41.0% | +79.2% | 0.39 | — | |
CPAYCorpay, Inc. · Payment Processing | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +8.2% | 32.5% | 0.41 | −50.1% | +48.6% | 0.31 | — | |
IHGInterContinental Hotels Group PLC · Hotels & Resorts | Higher return, lower volatility | +21.4% | 26.6% | 0.86 | −59.3% | +163% | 0.50 | — | |
 DALDelta Air Lines, Inc. · Airlines | Higher return, lower volatility | +14.6% | 40.8% | 0.54 | −69.2% | +97.6% | 0.42 | — | |
 RCLRoyal Caribbean Cruises Ltd. · Cruise Lines | Higher return, similar volatility | +28.8% | 48.4% | 0.77 | −83.3% | +255% | 0.48 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 2,189 of 3,600 passed at least one test. | |||||||||
 MSFTMicrosoft Corporation · Software | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +12.5% | 28.2% | 0.56 | −37.1% | +80.3% | 0.28 | — | |
 LLYEli Lilly and Company · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +40.7% | 32.8% | 1.21 | −34.5% | +451% | -0.13 | — | |
 MRKMerck & Co., Inc. · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +16.3% | 24.8% | 0.74 | −43.4% | +113% | -0.06 | — | |
 AMGNAmgen Inc. · Biotechnology | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +19.6% | 24.9% | 0.85 | −24.9% | +145% | 0.06 | — | |
 SAPSAP SE · Enterprise Software | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +11.5% | 30.0% | 0.52 | −52.5% | +72.6% | 0.33 | — | |
EWTiShares MSCI Taiwan ETF · International Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +20.4% | 24.2% | 0.89 | −38.9% | +153% | 0.35 | 0.59% | |
 PANWPalo Alto Networks, Inc. · Cybersecurity | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +31.9% | 43.4% | 0.86 | −48.0% | +299% | 0.26 | — | |
 BSVVanguard Short-Term Bond ETF · Short-Term Bonds | Similar return, lower volatilityHigher Sharpe, smaller worst decline | +1.7% | 2.8% | 0.63 | −8.5% | +8.8% | 0.11 | 0.03% | |
What these numbers mean for ABNB
- Annual return
- ABNB returned 0.8% 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 $10,400. 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
- ABNB's volatility over the past 5 years was 44.3%, 2.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ABNB's return lands within 44.3% 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
- ABNB's Sharpe ratio over the past 5 years was 0.24, against 0.79 for the S&P 500, so ABNB 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
- ABNB's worst fall from a peak to a low over the past 10 years was 62.0%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 62.0% fall takes a 163% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, ABNB's monthly returns had a correlation of 0.51 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against ABNB instead: the lower it is, the more that option would diversify a ABNB holding. Guide: Correlation and diversification →
Show all 1,797 stocks and funds worth at least $500 million that earned more than ABNB 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.
| # | Investment | Found in | Annual return | Volatility | Sharpe | Worst decline | 5Y return | Corr. with ABNB | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | MSFTMicrosoft Corporation · Software | Whole market | +12.5% | 28.2% | 0.56 | −37.1% | +80.3% | 0.28 | — |
| 2 | LLYEli Lilly and Company · Pharmaceuticals | Whole market | +40.7% | 32.8% | 1.21 | −34.5% | +451% | -0.13 | — |
| 3 | MRKMerck & Co., Inc. · Pharmaceuticals | Whole market | +16.3% | 24.8% | 0.74 | −43.4% | +113% | -0.06 | — |
| 4 | AMGNAmgen Inc. · Biotechnology | Whole market | +19.6% | 24.9% | 0.85 | −24.9% | +145% | 0.06 | — |
| 5 | SAPSAP SE · Enterprise Software | Whole market | +11.5% | 30.0% | 0.52 | −52.5% | +72.6% | 0.33 | — |
| 6 |  TRVThe Travelers Companies, Inc. · Property & Casualty Insurance | Whole market | +22.4% | 22.3% | 1.02 | −46.3% | +174% | 0.13 | — |
| 7 | RSReliance Steel & Aluminum Co. · Metals & Mining | Whole market | +24.8% | 28.1% | 0.93 | −40.8% | +203% | 0.40 | — |
| 8 | RPRXRoyalty Pharma plc · Pharmaceuticals | Whole market | +13.3% | 23.8% | 0.65 | −49.7% | +87.0% | 0.09 | — |
| 9 | FFIVF5, Inc. · Cybersecurity | Whole market | +17.1% | 30.8% | 0.67 | −54.6% | +120% | 0.26 | — |
| 10 | EXPDExpeditors International of Washington, Inc. · Freight & Logistics | Whole market | +12.0% | 27.1% | 0.56 | −35.6% | +76.6% | 0.28 | — |
| 11 | HALOHalozyme Therapeutics, Inc. · Biotechnology | Whole market | +26.6% | 40.4% | 0.79 | −49.1% | +226% | 0.06 | — |
| 12 |  MPCMarathon Petroleum Corporation · Oil & Gas | Whole market | +51.2% | 33.4% | 1.41 | −79.7% | +690% | 0.25 | — |
| 13 | EWTiShares MSCI Taiwan ETF · International Equity | Whole market | +20.4% | 24.2% | 0.89 | −38.9% | +153% | 0.35 | 0.59% |
| 14 |  PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas | Whole market | +51.8% | 37.5% | 1.31 | −71.7% | +705% | 0.17 | — |
| 15 |  SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds | Whole market | +3.8% | 0.3% | 13.25 | −0.3% | +20.3% | 0.13 | 0.09% |
| 16 | VCTRVictory Capital Holdings, Inc. · Asset Management | Whole market | +28.1% | 35.0% | 0.89 | −45.2% | +245% | 0.42 | — |
| 17 | ACAArcosa, Inc. · Construction Materials | Whole market | +23.1% | 34.0% | 0.78 | −36.8% | +182% | 0.39 | — |
| 18 | MATXMatson, Inc. · Freight & Logistics | Whole market | +24.9% | 39.4% | 0.76 | −53.6% | +204% | 0.43 | — |
| 19 | NHCNational HealthCare Corporation · Medical - Care Facilities | Whole market | +32.0% | 28.5% | 1.12 | −35.3% | +301% | -0.07 | — |
| 20 | FLTWFranklin FTSE Taiwan ETF · Technology | Whole market | +21.8% | 24.3% | 0.94 | −38.0% | +168% | 0.34 | 0.19% |
| 21 | RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity | Whole market | +16.9% | 25.1% | 0.75 | −33.7% | +119% | 0.46 | 0.40% |
| 22 | DHTDHT Holdings, Inc. · Marine Shipping | Whole market | +38.7% | 39.0% | 1.04 | −39.7% | +413% | 0.16 | — |
| 23 | SXTSensient Technologies Corporation · Specialty Chemicals | Whole market | +9.3% | 30.3% | 0.44 | −50.6% | +56.2% | 0.25 | — |
| 24 | HURNHuron Consulting Group Inc. · Consulting Services | Whole market | +29.7% | 40.7% | 0.84 | −51.4% | +268% | 0.05 | — |
| 25 |  RYRoyal Bank of Canada · Banks | Whole market | +17.3% | 18.2% | 0.97 | −40.0% | +122% | 0.33 | — |
| 26 | JAAAJanus Henderson AAA CLO ETF · CLO Bonds | Whole market | +5.1% | 1.7% | 2.98 | −2.6% | +28.0% | 0.42 | 0.20% |
| 27 | ITGRInteger Holdings Corporation · Medical Devices | Whole market | +6.9% | 35.3% | 0.37 | −56.1% | +39.4% | 0.09 | — |
| 28 | FBTFirst Trust NYSE Arca Biotechnology Index Fund · Healthcare | Whole market | +10.8% | 22.2% | 0.58 | −33.3% | +67.1% | 0.20 | 0.55% |
| 29 | CNXNPC Connection, Inc. · Technology Distributors | Whole market | +15.8% | 29.2% | 0.65 | −41.8% | +109% | 0.15 | — |
| 30 |  CAHCardinal Health, Inc. · Health Care Distribution | Whole market | +42.1% | 24.7% | 1.55 | −46.1% | +479% | 0.18 | — |
| 31 |  AAPLApple Inc. · Computer Hardware | Whole market | +18.5% | 28.0% | 0.75 | −38.5% | +133% | 0.36 | — |
| 32 | HBTHBT Financial, Inc. · Banks - Regional | Whole market | +18.9% | 28.7% | 0.75 | −54.0% | +137% | 0.26 | — |
| 33 | IGPTInvesco AI and Next Gen Software ETF · Technology | Whole market | +14.3% | 30.1% | 0.60 | −50.1% | +95.1% | 0.36 | 0.57% |
| 34 |  GOOGAlphabet Inc. · Internet Services | Whole market | +19.0% | 32.0% | 0.71 | −44.6% | +138% | 0.23 | — |
| 35 | SAFTSafety Insurance Group, Inc. · Insurance - Property & Casualty | Whole market | +10.6% | 28.5% | 0.49 | −32.8% | +65.8% | -0.05 | — |
| 36 |  TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors | Whole market | +31.5% | 38.5% | 0.91 | −56.6% | +293% | 0.29 | — |
| 37 | ACNBACNB Corporation · Banks - Regional | Whole market | +22.1% | 34.4% | 0.75 | −49.7% | +171% | 0.25 | — |
| 38 |  VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Whole market | +11.5% | 17.5% | 0.71 | −35.0% | +72.6% | 0.53 | 0.03% |
| 39 |  PBRPetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas | Whole market | +50.3% | 37.5% | 1.28 | −75.3% | +667% | 0.12 | — |
| 40 | VBNKVersaBank · Banks - Regional | Whole market | +14.7% | 35.1% | 0.57 | −50.7% | +98.2% | 0.34 | — |
| 41 |  SHELShell plc · Integrated Oil & Gas | Whole market | +21.0% | 24.8% | 0.90 | −67.2% | +159% | 0.06 | — |
| 42 |  VOOVanguard S&P 500 ETF · US Large-Cap Equity | Whole market | +12.8% | 16.9% | 0.80 | −34.0% | +82.3% | 0.52 | 0.03% |
| 43 | INSWInternational Seaways, Inc. · Oil & Gas | Whole market | +56.5% | 40.5% | 1.31 | −57.4% | +839% | 0.13 | — |
| 44 |  AMZNAmazon.com, Inc. · E-Commerce | Whole market | +9.0% | 36.6% | 0.42 | −56.1% | +53.8% | 0.49 | — |
| 45 |  VLOValero Energy Corporation · Oil & Gas | Whole market | +44.2% | 36.9% | 1.18 | −71.9% | +524% | 0.25 | — |
| 46 |  WMTWalmart Inc. · Discount Retail | Whole market | +20.8% | 22.6% | 0.96 | −25.7% | +158% | 0.25 | — |
| 47 |  BRK-BBerkshire Hathaway Inc. · Insurance | Whole market | +13.4% | 17.1% | 0.82 | −29.6% | +87.8% | 0.24 | — |
| 48 |  PSXPhillips 66 · Oil & Gas | Whole market | +33.2% | 32.9% | 1.04 | −64.2% | +319% | 0.22 | — |
| 49 |  JPMJPMorgan Chase & Co. · Banks | Whole market | +17.3% | 24.3% | 0.78 | −43.6% | +122% | 0.37 | — |
| 50 |  ABBVAbbVie Inc. · Pharmaceuticals | Whole market | +26.1% | 23.4% | 1.11 | −45.1% | +218% | 0.05 | — |
| 51 |  SUSuncor Energy Inc. · Integrated Oil & Gas | Whole market | +33.1% | 32.5% | 1.05 | −73.5% | +318% | 0.03 | — |
| 52 |  TRGPTarga Resources Corp. · Oil & Gas Midstream | Whole market | +41.8% | 31.7% | 1.27 | −90.8% | +473% | 0.35 | — |
| 53 |  CNQCanadian Natural Resources Limited · Oil & Gas | Whole market | +26.5% | 32.5% | 0.89 | −77.5% | +224% | 0.19 | — |
| 54 |  JNJJohnson & Johnson · Pharmaceuticals | Whole market | +12.7% | 17.9% | 0.76 | −27.4% | +82.1% | -0.03 | — |
| 55 | VRIGInvesco Variable Rate Investment Grade ETF · Bonds | Whole market | +4.7% | 1.3% | 3.51 | −13.1% | +25.6% | 0.32 | 0.30% |
| 56 | DXJWisdomTree Japan Hedged Equity Fund · International Equity | Whole market | +26.6% | 19.1% | 1.34 | −39.1% | +225% | 0.41 | 0.48% |
| 57 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +119% | 0.33 | 0.40% |
| 58 |  KOThe Coca-Cola Company · Food & Beverages | Whole market | +14.7% | 16.8% | 0.91 | −37.0% | +98.2% | 0.00 | — |
| 59 | BALTInnovator Defined Wealth Shield ETF · Crypto | Whole market | +6.3% | 3.3% | 1.85 | −4.9% | +35.7% | 0.34 | 0.69% |
| 60 |  CVXChevron Corporation · Integrated Oil & Gas | Whole market | +19.5% | 25.2% | 0.84 | −55.8% | +144% | 0.22 | — |
| 61 |  CATCaterpillar Inc. · Industrial Machinery | Whole market | +31.1% | 31.9% | 1.01 | −43.4% | +288% | 0.36 | — |
| 62 |  EQNREquinor ASA · Integrated Oil & Gas | Whole market | +19.2% | 34.4% | 0.69 | −66.8% | +141% | 0.03 | — |
| 63 |  COSTCostco Wholesale Corporation · Discount Retail | Whole market | +17.4% | 22.9% | 0.82 | −31.4% | +123% | 0.43 | — |
| 64 |  VXUSVanguard Total International Stock ETF · International Equity | Whole market | +8.2% | 16.4% | 0.57 | −36.0% | +48.6% | 0.41 | 0.05% |
| 65 |  QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth | Whole market | +14.5% | 23.0% | 0.71 | −35.1% | +97.2% | 0.51 | 0.18% |
| 66 |  MUFGMitsubishi UFJ Financial Group, Inc. · Banks | Whole market | +33.2% | 29.4% | 1.13 | −54.9% | +319% | 0.17 | — |
| 67 |  PMPhilip Morris International Inc. · Tobacco | Whole market | +21.0% | 23.4% | 0.94 | −42.9% | +159% | -0.01 | — |
| 68 |  CSCOCisco Systems, Inc. · Communications Equipment | Whole market | +16.8% | 26.1% | 0.73 | −42.0% | +118% | 0.18 | — |
| 69 |  MCKMcKesson Corporation · Health Care Distribution | Whole market | +38.7% | 25.0% | 1.44 | −38.1% | +413% | 0.04 | — |
| 70 |  NVSNovartis AG · Pharmaceuticals | Whole market | +17.1% | 20.7% | 0.87 | −26.8% | +121% | 0.04 | — |
| 71 |  CVECenovus Energy Inc. · Integrated Oil & Gas | Whole market | +26.5% | 39.4% | 0.80 | −89.2% | +225% | 0.07 | — |
| 72 |  APHAmphenol Corporation · Electronic Components | Whole market | +33.8% | 32.2% | 1.07 | −37.5% | +329% | 0.35 | — |
| 73 | FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Financials | Whole market | +6.0% | 2.3% | 2.55 | −21.0% | +33.9% | 0.50 | 0.60% |
| 74 |  VTVVanguard Morningstar Value ETF · US Large-Cap Value | Whole market | +12.1% | 13.7% | 0.90 | −36.8% | +76.6% | 0.40 | 0.03% |
| 75 |  XLEState Street Energy Select Sector SPDR ETF · Energy Equity | Whole market | +22.6% | 25.5% | 0.93 | −66.8% | +177% | 0.21 | 0.08% |
| 76 |  RTXRTX Corporation · Aerospace & Defense | Whole market | +18.6% | 24.3% | 0.83 | −52.0% | +135% | -0.12 | — |
| 77 |  NUENucor Corporation · Metals & Mining | Whole market | +21.7% | 37.4% | 0.72 | −57.2% | +167% | 0.54 | — |
| 78 |  GILDGilead Sciences, Inc. · Biotechnology | Whole market | +22.8% | 24.9% | 0.95 | −30.5% | +180% | -0.02 | — |
| 79 |  GSThe Goldman Sachs Group, Inc. · Capital Markets | Whole market | +19.6% | 28.6% | 0.77 | −48.8% | +145% | 0.34 | — |
| 80 |  VEAVanguard FTSE Developed Markets ETF · Developed International Equity | Whole market | +9.3% | 16.9% | 0.61 | −35.8% | +55.9% | 0.42 | 0.03% |
| 81 |  MSMorgan Stanley · Capital Markets | Whole market | +16.0% | 28.8% | 0.66 | −51.3% | +110% | 0.44 | — |
| 82 |  TDThe Toronto-Dominion Bank · Banks | Whole market | +15.8% | 20.0% | 0.84 | −42.0% | +109% | 0.40 | — |
| 83 |  IBKRInteractive Brokers Group, Inc. · Investment Banking & Brokerage | Whole market | +35.4% | 35.4% | 1.04 | −55.1% | +355% | 0.38 | — |
| 84 |  MFGMizuho Financial Group, Inc. · Banks | Whole market | +33.6% | 30.6% | 1.10 | −45.7% | +326% | 0.25 | — |
| 85 |  TJXThe TJX Companies, Inc. · Specialty Retail | Whole market | +19.9% | 22.3% | 0.93 | −42.5% | +147% | 0.04 | — |
| 86 |  SCCOSouthern Copper Corporation · Metals & Mining | Whole market | +32.0% | 40.7% | 0.89 | −55.3% | +301% | 0.35 | — |
| 87 |  GLDSPDR Gold Shares · Gold | Whole market | +17.7% | 18.9% | 0.96 | −26.4% | +126% | 0.03 | 0.40% |
| 88 |  NTAPNetApp, Inc. · Computer Hardware | Whole market | +20.9% | 35.3% | 0.71 | −58.1% | +159% | 0.24 | — |
| 89 |  IBMInternational Business Machines Corporation · IT Services | Whole market | +16.6% | 30.5% | 0.66 | −41.1% | +116% | -0.10 | — |
| 90 |  PGThe Procter & Gamble Company · Household & Personal Products | Whole market | +5.1% | 18.3% | 0.37 | −23.8% | +28.3% | 0.05 | — |
| 91 |  LINLinde plc · Chemicals | Whole market | +11.5% | 20.9% | 0.63 | −32.6% | +72.6% | 0.29 | — |
| 92 |  VGTVanguard Information Technology ETF · Technology Equity | Whole market | +18.4% | 26.0% | 0.78 | −35.1% | +133% | 0.46 | 0.09% |
| 93 | CIBGrupo Cibest S.A. · Banks | Whole market | +32.9% | 32.9% | 1.03 | −70.4% | +314% | 0.20 | — |
| 94 |  SMFGSumitomo Mitsui Financial Group, Inc. · Banks | Whole market | +33.7% | 29.4% | 1.14 | −47.6% | +327% | 0.13 | — |
| 95 |  PHParker-Hannifin Corporation · Industrial Machinery | Whole market | +27.4% | 28.8% | 0.99 | −54.7% | +235% | 0.45 | — |
| 96 |  BHPBHP Group Limited · Metals & Mining | Whole market | +16.6% | 31.4% | 0.65 | −44.3% | +115% | 0.27 | — |
| 97 |  ADIAnalog Devices, Inc. · Semiconductors | Whole market | +19.5% | 34.1% | 0.69 | −33.6% | +144% | 0.31 | — |
| 98 |  CCitigroup Inc. · Banks | Whole market | +15.1% | 29.4% | 0.63 | −56.5% | +102% | 0.44 | — |
| 99 |  BTIBritish American Tobacco p.l.c. · Tobacco | Whole market | +18.7% | 22.0% | 0.90 | −56.1% | +136% | -0.18 | — |
| 100 |  AXPAmerican Express Company · Consumer Finance | Whole market | +13.5% | 29.3% | 0.58 | −49.6% | +88.5% | 0.46 | — |
ABNB against its popular alternatives
The investments people most often weigh against ABNB, compared period by period and year by year.
How do ABNB'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 ABNB, which divides the map into what did better or worse on each measure.
- Five of the ten popular alternatives, led by MAR, HLT and H, were both more rewarding and calmer than ABNB over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, ABNB returned 0.8% a year, less than the S&P 500's 12.7%, with higher volatility (44.3% against 17.1%).
Green points earned more than ABNB with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| MAR Marriott International, Inc. | +22.0% | 28.6% |
| HLT Hilton Worldwide Holdings Inc. | +21.0% | 26.8% |
| H Hyatt Hotels Corporation | +16.6% | 34.3% |
| EXPE Expedia Group, Inc. | +13.3% | 46.5% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| BKNG Booking Holdings Inc. | +12.0% | 33.2% |
| MMYT MakeMyTrip Limited | +8.9% | 50.0% |
| TCOM Trip.com Group Limited | +5.3% | 48.7% |
| WH Wyndham Hotels & Resorts, Inc. | +1.0% | 29.9% |
| ABNB This pageAirbnb, Inc. | +0.8% | 44.3% |
| VAC Marriott Vacations Worldwide Corporation | −3.0% | 44.9% |
| TRIP Tripadvisor, Inc. | −22.9% | 52.8% |
Has ABNB consistently beaten its popular alternatives?
This section compares ABNB with the investments people most often weigh against it, checking each one over seven periods from one month to five years. Counting how often an alternative earned more than ABNB helps separate lasting outperformance from a single strong stretch.
- None of the ten popular alternatives outperformed ABNB in at least 3 of 5 short-term and 2 of 2 long-term timeframes. The closest was MAR.
- HLT, MAR and H earned more for the risk they took than ABNB (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
- HLT outperformed ABNB over all two long-term periods but in only one of the five short-term ones, so ABNB has had the better of it lately.
A green cell means the alternative earned more than ABNB over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 2 long-term periods.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| ABNB Airbnb, Inc. (this page) | — | +6.1% | +22.1% | +23.2% | +33.0% | +39.1% | +51.9% | +4.2% | 44.3% | 0.24 | −62.0% | — | $106B | — |
| MAR Travel LodgingMarriott International, Inc. | 2/5 short2/2 long | +15.9% | +8.5% | +5.3% | +27.5% | +54.1% | +117% | +170% | 28.6% | 0.84 | −61.3% | — | $104B | — |
| HLT Travel LodgingHilton Worldwide Holdings Inc. | 1/5 short2/2 long | +17.0% | +11.1% | +4.9% | +22.8% | +37.9% | +145% | +160% | 26.8% | 0.85 | −50.8% | — | $81B | — |
| H Travel LodgingHyatt Hotels Corporation | 1/5 short2/2 long | +12.2% | −7.0% | +2.2% | +6.7% | +19.5% | +77.5% | +116% | 34.3% | 0.62 | −60.5% | — | $17B | — |
| EXPE Travel ServicesExpedia Group, Inc. | 1/5 short2/2 long | +7.0% | +13.6% | +10.5% | +6.9% | +38.8% | +226% | +86.3% | 46.5% | 0.50 | −70.5% | — | $34B | — |
| WH Travel LodgingWyndham Hotels & Resorts, Inc. | 1/5 short1/2 long | +15.2% | +1.7% | −13.0% | +4.5% | +0.3% | +11.5% | +4.9% | 29.9% | 0.18 | −66.1% | — | $5.7B | — |
| BKNG Travel ServicesBooking Holdings Inc. | 0/5 short1/2 long | −2.7% | −8.4% | −14.2% | −22.5% | −19.6% | +52.2% | +75.9% | 33.2% | 0.51 | −47.8% | — | $123B | — |
| MMYT Travel ServicesMakeMyTrip Limited | 0/5 short1/2 long | −4.3% | −13.7% | −7.5% | −43.9% | −49.4% | +18.4% | +53.5% | 50.0% | 0.42 | −73.5% | — | $4.3B | — |
| TCOM Travel ServicesTrip.com Group Limited | 0/5 short1/2 long | −0.9% | −8.8% | −26.7% | −45.9% | −43.5% | +26.1% | +29.8% | 48.7% | 0.35 | −72.0% | — | $26B | — |
| VAC Gambling, Resorts & CasinosMarriott Vacations Worldwide Corporation | 4/5 short0/2 long | +10.0% | +17.0% | +49.3% | +98.3% | +74.5% | +39.2% | −14.2% | 44.9% | 0.16 | −74.9% | — | $3.9B | — |
| TRIP Travel ServicesTripadvisor, Inc. | 1/5 short0/2 long | +8.1% | −34.0% | −17.2% | −35.0% | −42.6% | −36.3% | −72.8% | 52.8% | -0.23 | −86.8% | — | $1.1B | — |
How did ABNB do year by year?
This table shows each investment's total return in every full calendar year since 2021, along with where ABNB ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with ABNB and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
Note: ABNB began trading on December 10, 2020, so the table starts with 2021, its first full calendar year, and cannot show how it fared during the dot-com bust, the 2008 financial crisis or six other sell-offs.
- ABNB finished ahead of the S&P 500 in one of its five full calendar years, and behind it in each of the last two.
- Among its popular alternatives, MAR came out ahead of ABNB most often, in four of the five years both traded.
- Ranked against its popular alternatives each year, ABNB finished in the top quarter in no of five years and in the bottom quarter in two. In 2025, it ranked 6 of 11.
Newest year first. Green marks a year in which the fund came out ahead of ABNB; gray means the two finished within a fraction of a point. The rank row places ABNB among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of ABNB | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| ABNB This pageAirbnb, Inc. | — | +3.3% | −3.5% | +59.2% | −48.6% | +13.4% |
| Rank among alternatives | Top quarter in 0 of 5 | 6 of 11 | 10 of 11 | 4 of 11 | 10 of 11 | 7 of 11 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 4 of 5 | +17.7% | +24.9% | +26.2% | −18.2% | +28.7% |
| MAR Marriott International, Inc. | 4 of 5 | +12.3% | +24.9% | +53.0% | −9.3% | +25.3% |
| HLT Hilton Worldwide Holdings Inc. | 4 of 5 | +16.5% | +36.1% | +44.7% | −18.7% | +40.2% |
| H Hyatt Hotels Corporation | 3 of 5 | +2.6% | +20.9% | +44.8% | −5.7% | +29.2% |
| EXPE Expedia Group, Inc. | 4 of 5 | +53.3% | +22.8% | +73.3% | −51.5% | +36.5% |
| WH Wyndham Hotels & Resorts, Inc. | 3 of 5 | −23.5% | +27.7% | +14.9% | −19.0% | +52.6% |
| BKNG Booking Holdings Inc. | 4 of 5 | +8.6% | +41.3% | +76.0% | −16.0% | +7.7% |
| MMYT MakeMyTrip Limited | 3 of 5 | −26.9% | +139% | +70.4% | −0.5% | −6.2% |
| TCOM Trip.com Group Limited | 3 of 5 | +5.2% | +90.6% | +4.7% | +39.7% | −27.0% |
| VAC Marriott Vacations Worldwide Corporation | 3 of 5 | −32.7% | +9.6% | −35.3% | −18.9% | +24.0% |
| TRIP Tripadvisor, Inc. | 1 of 5 | −1.4% | −31.4% | +19.7% | −34.0% | −5.3% |
Risk and diversification
How ABNB 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 ABNB's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents ABNB's five deepest drawdowns since it began trading in 2020, 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.
Note: ABNB began trading on December 10, 2020, so this list cannot include the dot-com bust, the 2008 financial crisis or six other sell-offs. The crash tests on this page show how older funds and the S&P 500 fared through those years.
- In all five of ABNB's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: ABNB fell 62.0% from February 2021 to December 2022, while the S&P 500 slipped only 0.7%.
- None of these declines kept ABNB below its old high for long; the longest climb back took no months.
Green means ABNB fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | ABNB fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2022 bear market | −62.0% | −0.7% | Feb 2021 | Dec 2022 | 22 months | Not yet | — |
| No named crash | −14.7% | +0.4% | Dec 2020 | Jan 2021 | 1 month | Jan 2021 | Under a month |
| No named crash | −13.8% | +0.8% | Dec 2020 | Dec 2020 | Under a month | Dec 2020 | Under a month |
| No named crash | −11.0% | +1.9% | Jan 2021 | Feb 2021 | 1 month | Feb 2021 | Under a month |
| No named crash | −10.3% | +1.4% | Jan 2021 | Jan 2021 | Under a month | Jan 2021 | Under a month |
How did ABNB do in stock market crashes?
This section measures how far ABNB, 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.
Note: ABNB began trading on December 10, 2020, so its row reads "Not yet trading" for the dot-com bust, the 2008 financial crisis or six other sell-offs. The older alternatives and the S&P 500 show how those crashes played out.
- ABNB fell further than the S&P 500 in all two crashes it has traded through. The clearest case was the 2022 bear market, when ABNB fell 52.3% and the S&P 500 fell 24.5%.
- Among its popular alternatives, HLT held up best, falling less than ABNB in all two crashes they both traded through.
- ABNB began trading after the 2008 financial crisis, but four of its popular alternatives lived through it. The mildest fall among them was BKNG's 66.3%, against 55.2% for the S&P 500.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than ABNB.
| Investment | Held up better | 2023 regional bank crisisMar 2023 | 2022 bear marketJan 2022 | Covid crashFeb 2020 | Late-2018 sell-offSep 2018 | February 2018 volatility shockFeb 2018 | 2015 China and oil sell-offAug 2015 | 2011 euro debt crisisJul 2011 | 2010 flash crashMay 2010 | 2008 financial crisisOct 2007 | Dot-com bustMar 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ABNB This pageAirbnb, Inc. | — | −7.2% | −52.3% | Not yet trading | Not yet trading | Not yet trading | Not yet trading | Not yet trading | Not yet trading | Not yet trading | Not yet trading |
| SPY S&P 500State Street SPDR S&P 500 ETF | 2 of 2 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| MAR Marriott International, Inc. | 1 of 2 | −7.4% | −29.9% | −56.6% | −24.0% | −5.2% | −24.9% | −25.6% | −2.8% | −70.1% | −46.2% |
| HLT Hilton Worldwide Holdings Inc. | 2 of 2 | −6.7% | −32.6% | −49.6% | −22.2% | −4.8% | −34.1% | — | — | — | — |
| H Hyatt Hotels Corporation | 1 of 2 | −10.1% | −33.2% | −60.5% | −21.3% | −3.4% | −33.6% | −28.3% | −3.6% | — | — |
| EXPE Expedia Group, Inc. | 0 of 2 | −11.4% | −58.2% | −62.4% | −18.2% | −19.6% | −33.2% | −22.9% | −4.7% | −82.5% | — |
| WH Wyndham Hotels & Resorts, Inc. | 1 of 2 | −10.4% | −34.1% | −63.7% | −22.2% | — | — | — | — | — | — |
| BKNG Booking Holdings Inc. | 2 of 2 | −5.6% | −39.5% | −41.5% | −19.1% | −6.3% | −33.7% | −17.8% | −3.2% | −66.3% | −98.9% |
| MMYT MakeMyTrip Limited | 2 of 2 | −1.2% | −28.0% | −61.8% | −28.3% | −10.8% | −32.2% | −25.9% | — | — | — |
| TCOM Trip.com Group Limited | 2 of 2 | −5.2% | −45.0% | −37.8% | −35.9% | −8.3% | −34.9% | −34.3% | −3.1% | −76.3% | — |
| VAC Marriott Vacations Worldwide Corporation | 1 of 2 | −11.5% | −33.8% | −71.1% | −47.7% | −6.6% | −41.8% | — | — | — | — |
| TRIP Tripadvisor, Inc. | 1 of 2 | −9.8% | −42.8% | −50.1% | −22.9% | −6.7% | −37.7% | — | — | — | — |
How closely does ABNB 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 ABNB with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 5 years.
- Eight of the ten popular alternatives had a higher capture ratio (upside capture divided by downside capture) than ABNB's 0.53, led by HLT, MAR and TCOM.
- HLT took just 88% of the S&P 500's losses, against 130% for ABNB, while still keeping 111% of its gains.
- Over the past 5 years, ABNB captured 69% of the S&P 500's gains in rising months and 130% of its losses in falling months, with a beta of 1.23. Its share of the market's losses was larger than its share of the gains.
Monthly total returns over the past 5 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 ABNB's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| ABNB This pageAirbnb, Inc. | 69% | 130% | 0.53 | 1.23 |
| HLT Hilton Worldwide Holdings Inc. | 111% | 88% | 1.26 | 1.10 |
| MAR Marriott International, Inc. | 118% | 97% | 1.21 | 1.17 |
| TCOM Trip.com Group Limited | 36% | 36% | 1.00 | -0.04 |
| H Hyatt Hotels Corporation | 124% | 129% | 0.96 | 1.40 |
| MMYT MakeMyTrip Limited | 103% | 117% | 0.89 | 1.07 |
| BKNG Booking Holdings Inc. | 107% | 122% | 0.88 | 1.13 |
| EXPE Expedia Group, Inc. | 118% | 150% | 0.79 | 1.36 |
| WH Wyndham Hotels & Resorts, Inc. | 30% | 52% | 0.58 | 0.67 |
| VAC Marriott Vacations Worldwide Corporation | 65% | 150% | 0.43 | 1.30 |
| TRIP Tripadvisor, Inc. | 0% | 171% | 0.00 | 0.86 |
What diversifies ABNB?
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 ABNB's. Because such investments tend not to fall at the same time, pairing ABNB with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in ABNB into GLD would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (-0.9% for ABNB alone, +4.1% for the mix).
- MCK made money in two of the two calendar years in which ABNB lost money.
- Among large ETFs, LVHI, DXJ and PJUL have moved largely independently of ABNB over the past 5 years, with correlations of 0.48 or lower, and each still earned a positive 5-year return.
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 ABNB lost money. The last two columns show a portfolio that is 80% ABNB and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2024 | 2022 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|
| ABNB Airbnb, Inc. (this page) | 1.00 | +4.2% | 0.24 | −3.5% | −48.6% | 37.5% | −0.9% |
| LVHI InternationalFranklin International Low Volatility High Dividend Index ETF | 0.33 | +119% | 1.48 | +15.9% | +3.8% | 30.7% | +3.5% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.41 | +225% | 1.34 | +29.8% | +6.0% | 31.2% | +5.2% |
| PJUL Broad MarketInnovator U.S. Equity Power Buffer ETF | 0.48 | +64.4% | 1.20 | +13.8% | −2.1% | 30.8% | +2.3% |
| EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund | 0.30 | +101% | 1.04 | +33.4% | +10.4% | 31.0% | +3.3% |
| HDV Dividend & IncomeiShares Core High Dividend ETF | 0.25 | +83.3% | 1.00 | +14.1% | +7.1% | 30.9% | +2.7% |
| FTLS Broad MarketFirst Trust Long/Short Equity ETF | 0.41 | +62.9% | 0.99 | +18.8% | −5.6% | 30.8% | +2.4% |
| SMH TechnologyVanEck Semiconductor ETF | 0.39 | +323% | 0.97 | +39.1% | −33.5% | 33.4% | +7.2% |
| GLD CommoditiesSPDR Gold Shares | 0.03 | +126% | 0.96 | +26.7% | −0.8% | 30.3% | +4.1% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2024 | 2022 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|
| ABNB Airbnb, Inc. (this page) | 1.00 | +4.2% | 0.24 | −3.5% | −48.6% | 37.5% | −0.9% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.18 | +479% | 1.55 | +19.0% | +54.1% | 31.4% | +7.4% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.28 | +3,143% | 1.47 | +215% | +1.3% | 35.2% | +18.5% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.25 | +1,636% | 1.46 | +107% | +17.0% | 33.4% | +15.2% |
| MCK Medical - DistributionMcKesson Corporation | 0.04 | +413% | 1.44 | +23.7% | +51.8% | 30.7% | +7.0% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.25 | +690% | 1.41 | −4.0% | +86.6% | 32.3% | +9.1% |
Common questions
What was ABNB's worst drawdown?
ABNB's deepest decline since it began trading in 2020 was 62.0%, from February 2021 to December 2022. It has not yet climbed back to that peak. Because ABNB launched in December 2020, that record does not include the dot-com bust, the 2008 financial crisis or six other sell-offs.
What were ABNB's best and worst years?
Over five full calendar years, ABNB's best year was 2023, when it returned 59.2%. Its worst was 2022, with a return of -48.6%.
Is there a better investment than ABNB?
Among ABNB's popular alternatives, HLT, BKNG and MAR earned more than ABNB with less volatility over the past 5 years. HLT returned 21.0% a year at 26.8% volatility, against 0.8% a year at 44.3%. Looking beyond its popular alternatives, V (payment processing) and MA (payment processing) earned more than ABNB with less volatility over the past 5 years. V returned 12.8% a year at 22.9% volatility, against 0.8% a year at 44.3%.
Is ABNB more volatile than the S&P 500?
Yes. ABNB's volatility over the past 5 years was 44.3%, 2.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ABNB's return lands within 44.3% 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 ABNB's Sharpe ratio?
ABNB's Sharpe ratio over the past 5 years was 0.24, against 0.79 for the S&P 500, so ABNB 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 ABNB with the S&P 500?
Over the past 5 years, ABNB's monthly returns had a correlation of 0.51 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against ABNB instead: the lower it is, the more that option would diversify a ABNB holding.
What are the best alternatives to ABNB?
None of the ten popular alternatives we compared outperformed ABNB in at least 3 of 5 short-term and 2 of 2 long-term timeframes, which says more about ABNB's strength than about its alternatives.
Did ABNB outperform the S&P 500?
ABNB finished ahead of the S&P 500 (SPY) in one of five full calendar years. In 2025, it returned +3.3%, against +17.7% for the index.
How did ABNB do in stock market crashes?
ABNB fell less than the S&P 500 (SPY) in none of the two major crashes it has traded through, and further in two. The clearest case was the 2022 bear market, when ABNB fell 52.3% and the S&P 500 fell 24.5%.
What diversifies ABNB?
These had a low correlation with ABNB over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.33), DXJ (correlation 0.41) and PJUL (correlation 0.48); among large stocks, CAH (correlation 0.18), CLS (correlation 0.28) and FIX (correlation 0.25). A correlation near zero means the two have moved largely independently.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y; long-term periods are 3Y, 5Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than ABNB's. Returns within 0.5 points or 3% of ABNB's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 2 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
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