# How Adobe (ADBE) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/adbe
> 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 ADBE alone. It places ADBE (Adobe Inc.) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where ADBE stands in the market, and of the alternatives worth a closer look.

Period covered: ADBE's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** ADBE is 62.7% below its high, bear-market territory, while the S&P 500 sits 1.3% below a record. Its application software peers split over the past 6 months: CRM (Salesforce) rose 30.7%, while ORCL (Oracle) fell 25.6%.
- **Stock or market?:** ADBE's 9.4% gain over the past 3 months is part of a broader application software rally: the application software ETF IGV (iShares Expanded Tech-Software Sector ETF) rose 15.0%, with MSFT (Microsoft, up 32.5%) and ORCL (Oracle, up 8.4%). Its application software peers did not move as one over the past 3 months: SAP rose 44.6%, while ORCL rose 8.4%.
- **Past 1 to 3 years:** Over the past year, ADBE fell 25.2% while the S&P 500 rose 15.8%. The same gap shows up over 3 years (52.5% against 89.3%). The long record (behind 52% of the stocks worth at least $300 million over 10 years) has not carried into the past 3 years (behind 95% of them).
- **Long term:** ADBE turned $10,000 into $23,500 over the past decade, against $42,100 in the S&P 500.
- **In a crash:** ADBE fell harder than the S&P 500 in six of seven sell-offs. The Covid crash was the exception: ADBE fell 25.6%, less than the S&P 500's 33.7%.
- **Diversification:** Against the S&P 500, ADBE has a correlation of 0.57 over 5 years, more closely than 85% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Over 10 years, ADBE's beta versus the S&P 500 was 1.24: in the S&P 500's rising months it gained 1.2 times as much as the index, and in falling months it lost 1.8 times as much.
- **Better options**
  - **Nearby categories and themes:** V (Visa, payment processing) and MA (Mastercard, payment processing) earned more than ADBE with less volatility over the past 5 years. V returned 12.8% a year at 22.9% volatility, against a loss of 16.5% a year at 38.1%.
  - **Whole market:** 2,121 of the 3,633 stocks and funds worth at least $500 million earned more than ADBE with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and MSFT (Microsoft).

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

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

- $10,000 invested in ADBE at the end of September 1997 would have grown to $386,385 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 ADBE, and AMZN finished highest, at $11,484,924.

## ADBE 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.

- ADBE is still 62.7% below its all-time high.
- ADBE's deepest decline since it began trading in 1986 was 79.9%, from November 2000 to August 2002. It took about four years from the low to climb back to its old high.
- Over 29 full calendar years, ADBE's best was 1999, when it returned 188%, and its worst was 2008, when it lost 50.2%. It lost money in eight of those years.

- Type: Stock, Technology (Software - Application)
- Trading since: October 17, 1986
- Market value: $100B
- Volatility (5 years): 38.1%; Sharpe ratio: -0.28
- Worst decline ever: −79.9%, from November 6, 2000 to August 5, 2002; back at its high by November 15, 2006

| Period | ADBE total return |
| --- | --- |
| 1 month | +2.9% |
| 3 months | +9.4% |
| 6 months | +3.3% |
| year to date | −23.0% |
| 1 year | −25.2% |
| 3 years | −52.5% |
| 5 years | −59.4% |
| 10 years | +135% |

## ADBE against the whole market

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

### How does ADBE rank among all stocks?

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

- On return for the risk taken (the Sharpe ratio), ADBE ranks in the bottom 4% of the 2,893 stocks worth at least $300 million.

| Measure | ADBE | Rank |
| --- | --- | --- |
| 1-year return | −25.2% | 2,759 of 3,287 (top 84%) |
| 3-year return | −52.5% | 2,869 of 3,017 (top 96%) |
| 5-year return | −59.4% | 2,498 of 2,893 (top 87%) |
| 10-year return | +135% | 1,153 of 2,202 (top 53%) |
| Volatility, 5 years | 38.1% | 1,335 of 2,893 (top 47%) |
| Sharpe ratio, 5 years | -0.28 | 2,770 of 2,893 (top 96%) |
| Worst decline, past 10 years | −71.9% | 1,349 of 2,187 (top 62%) |

### What has beaten ADBE 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).

- 1,150 stocks and 971 ETFs worth at least $500 million sit in the green region: each earned more than ADBE over the past 5 years with smaller price swings. That is 58% of the 3,633 screened.
- Among those with at least half ADBE's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 35% less than ADBE's 38.1%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against -0.28 for ADBE. MPC earned the most, 51.2% a year, while still swinging less than ADBE (33.4% against 38.1%).
- Among ADBE's popular alternatives, GOOG, MSFT and SAP are in the region. GOOG earned 19.0% a year against a loss of 16.5% a year for ADBE, at 32.0% volatility, 16% less than ADBE's 38.1%.

### Is there a better investment than ADBE?

The table below lists investments that beat ADBE 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 ADBE's popular alternatives, MSFT, SAP and PTC earned more than ADBE with less volatility over the past 5 years. MSFT returned 12.5% a year at 28.2% volatility, against a loss of 16.5% a year at 38.1%.
- Looking beyond its popular alternatives, V (payment processing) and MA (payment processing) earned more than ADBE with less volatility over the past 5 years. V returned 12.8% a year at 22.9% volatility, against a loss of 16.5% a year at 38.1%.
- Across the whole market, 2,121 of the 3,633 stocks and funds worth at least $500 million earned more than ADBE with less volatility over the past 5 years, among them AAPL, GOOG and MSFT.

The 15 strongest of 2,121 investments that beat ADBE 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 ADBE | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ADBE: Adobe Inc. (this page) |  | −16.5% | 38.1% | -0.28 | −71.9% | +135% |  |  |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | Pharmaceuticals | +40.7% | 32.8% | 1.21 | −34.5% | +1,807% | 0.14 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | Pharmaceuticals | +16.3% | 24.8% | 0.74 | −43.4% | +241% | 0.05 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [PG](https://easycompare.io/research/pg): The Procter & Gamble Company | Household & Personal Products | +5.1% | 18.3% | 0.37 | −23.8% | +145% | 0.19 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [PGR](https://easycompare.io/research/pgr): The Progressive Corporation | Property & Casualty Insurance | +21.3% | 25.6% | 0.89 | −30.3% | +816% | 0.10 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [COR](https://easycompare.io/research/cor): Cencora, Inc. | Health Care Distribution | +24.2% | 22.8% | 1.07 | −32.4% | +406% | 0.26 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.19 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.09 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [AAPL](https://easycompare.io/research/aapl): Apple Inc. | Computer Hardware | +18.5% | 28.0% | 0.75 | −38.5% | +1,168% | 0.52 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VTI](https://easycompare.io/research/vti): Vanguard Morningstar Total Stock Market ETF | US Total Market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.55 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| MTD: Mettler-Toledo International Inc. | Life Sciences Tools | +2.6% | 32.5% | 0.24 | −43.5% | +298% | 0.26 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| CHD: Church & Dwight Co., Inc. | Household & Personal Products | +6.1% | 21.1% | 0.39 | −31.7% | +154% | 0.16 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VOO](https://easycompare.io/research/voo): Vanguard S&P 500 ETF | US Large-Cap Equity | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.57 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| NEU: NewMarket Corporation | Specialty Chemicals | +21.0% | 26.8% | 0.85 | −40.7% | +165% | 0.26 | 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% | 0.28 | 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% | 0.14 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## ADBE against its popular alternatives

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

### How do ADBE'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.

- Six of the 20 popular alternatives, led by GOOG, MSFT and SAP, were both more rewarding and calmer than ADBE over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, ADBE returned -16.5% a year, less than the S&P 500's 12.7%, with higher volatility (38.1% against 17.1%).

### Has ADBE consistently beaten its popular alternatives?

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

- Nine of the 21 popular alternatives, led by MSFT, NOW and PTC, outperformed ADBE in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- MSFT, NOW and PTC outperformed ADBE in every long-term period and in all but one short-term period, the most consistent record in the group.
- NVDA, GOOG and MSFT earned more for the risk they took than ADBE (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 ADBE | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| ADBE: Adobe Inc. (this page) | −25.2% | −52.5% | −59.4% | +135% |  |  | -0.28 |
| [MSFT](https://easycompare.io/research/msft): Microsoft Corporation | +3.8% | +66.6% | +80.3% | +946% | 5/5 short-term, 3/3 long-term | all-weather | 0.56 |
| [NOW](https://easycompare.io/research/now): ServiceNow, Inc. | −18.5% | +37.8% | +9.8% | +848% | 5/5 short-term, 3/3 long-term | all-weather | 0.27 |
| PTC: PTC Inc. | −6.1% | +40.4% | +49.3% | +317% | 5/5 short-term, 3/3 long-term | all-weather | 0.40 |
| [SAP](https://easycompare.io/research/sap): SAP SE | −16.6% | +81.3% | +72.6% | +205% | 5/5 short-term, 3/3 long-term | all-weather | 0.52 |
| [ADSK](https://easycompare.io/research/adsk): Autodesk, Inc. | −20.3% | +21.2% | −17.8% | +245% | 4/5 short-term, 3/3 long-term | all-weather | 0.07 |
| [CRM](https://easycompare.io/research/crm): Salesforce, Inc. | −3.9% | +21.3% | −14.8% | +240% | 4/5 short-term, 3/3 long-term | all-weather | 0.12 |
| [NVDA](https://easycompare.io/research/nvda): NVIDIA Corporation | +18.8% | +425% | +884% | +13,019% | 3/5 short-term, 3/3 long-term | consistent | 1.14 |
| [WDAY](https://easycompare.io/research/wday): Workday, Inc. | −15.4% | −3.4% | −26.4% | +132% | 5/5 short-term, 2/3 long-term | consistent | 0.06 |
| BSY: Bentley Systems, Incorporated | −25.6% | −22.4% | −32.4% | — | 4/5 short-term, 2/3 long-term | consistent | -0.03 |
| [GOOG](https://easycompare.io/research/goog): Alphabet Inc. | +31.2% | +148% | +138% | +752% | 2/5 short-term, 3/3 long-term |  | 0.71 |
| [META](https://easycompare.io/research/meta): Meta Platforms, Inc. | −4.9% | +127% | +106% | +439% | 2/5 short-term, 3/3 long-term |  | 0.55 |
| [INTU](https://easycompare.io/research/intu): Intuit Inc. | −48.9% | −32.1% | −38.8% | +237% | 2/5 short-term, 3/3 long-term |  | -0.06 |
| [ORCL](https://easycompare.io/research/orcl): Oracle Corporation | −52.1% | +33.3% | +45.1% | +300% | 0/5 short-term, 3/3 long-term |  | 0.38 |
| HUBS: HubSpot, Inc. | −44.5% | −41.6% | −68.5% | +377% | 2/5 short-term, 2/3 long-term |  | -0.11 |
| BRZE: Braze, Inc. | +65.6% | +4.1% | — | — | 5/5 short-term, 1/3 long-term |  | — |
| DOCU: DocuSign, Inc. | +13.6% | +99.4% | −70.4% | — | 5/5 short-term, 1/3 long-term |  | -0.11 |
| ASAN: Asana, Inc. | −26.5% | −41.5% | −91.7% | — | 4/5 short-term, 1/3 long-term |  | -0.24 |
| U: Unity Software Inc. | +13.9% | +47.8% | −71.8% | — | 4/5 short-term, 1/3 long-term |  | 0.06 |
| WIX: Wix.com Ltd. | −42.5% | −5.0% | −59.9% | +76.4% | 3/5 short-term, 1/3 long-term |  | 0.00 |
| MNDY: monday.com Ltd. | −45.8% | −23.6% | −72.6% | — | 3/5 short-term, 1/3 long-term |  | -0.01 |
| TTD: The Trade Desk, Inc. | −75.9% | −82.9% | −84.1% | +377% | 0/5 short-term, 1/3 long-term |  | -0.20 |

### How did ADBE do year by year?

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

- Among its popular alternatives, BSY came out ahead of ADBE most often, in four of the five years both traded.
- Ranked against its popular alternatives each year, ADBE finished in the top quarter in seven of 29 years and in the bottom quarter in three. In 2025, it ranked 15 of 22.
- ADBE finished ahead of the S&P 500 in 16 of its 29 full calendar years, and behind it in each of the last two.

| Year | ADBE | SPY |
| --- | --- | --- |
| 2025 | −21.3% | +17.7% |
| 2024 | −25.5% | +24.9% |
| 2023 | +77.3% | +26.2% |
| 2022 | −40.6% | −18.2% |
| 2021 | +13.4% | +28.7% |
| 2020 | +51.6% | +18.3% |
| 2019 | +45.8% | +31.2% |
| 2018 | +29.1% | −4.6% |
| 2017 | +70.2% | +21.7% |
| 2016 | +9.6% | +12.0% |

## Risk and diversification

How ADBE 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 ADBE's worst declines?

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

- In all four of ADBE's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: ADBE fell 71.9% from November 2021 to June 2026, while the S&P 500 rose 67.0%.
- The slowest recovery came after ADBE fell 66.7% from October 2007 to March 2009; it did not regain that peak until July 2013, four years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −79.9% | November 6, 2000 | August 5, 2002 | November 15, 2006 | −40.4% | dot-com bust |
| −72.6% | May 7, 1987 | October 27, 1987 | May 15, 1989 | — |  |
| −71.9% | November 19, 2021 | June 25, 2026 | not yet | +67.0% | 2022 bear market |
| −66.7% | October 24, 2007 | March 3, 2009 | July 12, 2013 | −52.4% | 2008 financial crisis |
| −65.6% | December 5, 1995 | August 24, 1998 | May 10, 1999 | +84.3% |  |

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

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

- ADBE fell further than the S&P 500 in seven of the ten crashes it has traded through. The clearest case was the dot-com bust, when ADBE fell 79.9% and the S&P 500 fell 47.5%.
- Among its popular alternatives, BSY held up best, falling less than ADBE in all two crashes they both traded through.

| Crash | Dates | ADBE fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −79.9% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −66.7% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −0.2% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −23.6% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −22.7% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −5.4% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −25.5% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −25.6% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −50.3% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −6.2% | −3.4% |

### How closely does ADBE 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.

- 14 of the 15 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than ADBE's 0.67, led by NVDA, NOW and MSFT.
- NOW took just 79% of the S&P 500's losses, against 184% for ADBE, while still keeping 114% of its gains.
- Over the past 10 years, ADBE captured 123% of the S&P 500's gains in rising months and 184% of its losses in falling months, with a beta of 1.24. It amplified the market's moves in both directions.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| ADBE: Adobe Inc. (this page) | 123% | 184% | 1.24 |
| [MSFT](https://easycompare.io/research/msft): Microsoft Corporation | 127% | 91.0% | 0.96 |
| [NOW](https://easycompare.io/research/now): ServiceNow, Inc. | 114% | 79.0% | 0.97 |
| PTC: PTC Inc. | 105% | 127% | 1.12 |
| [SAP](https://easycompare.io/research/sap): SAP SE | 112% | 152% | 1.10 |
| [ADSK](https://easycompare.io/research/adsk): Autodesk, Inc. | 130% | 179% | 1.34 |
| [CRM](https://easycompare.io/research/crm): Salesforce, Inc. | 115% | 143% | 1.16 |
| [NVDA](https://easycompare.io/research/nvda): NVIDIA Corporation | 248% | 140% | 1.83 |
| [WDAY](https://easycompare.io/research/wday): Workday, Inc. | 96.0% | 139% | 1.19 |
| [GOOG](https://easycompare.io/research/goog): Alphabet Inc. | 132% | 110% | 1.12 |
| [META](https://easycompare.io/research/meta): Meta Platforms, Inc. | 134% | 143% | 1.25 |
| [INTU](https://easycompare.io/research/intu): Intuit Inc. | 99.0% | 126% | 1.03 |
| [ORCL](https://easycompare.io/research/orcl): Oracle Corporation | 131% | 159% | 1.30 |
| HUBS: HubSpot, Inc. | 121% | 149% | 1.46 |
| WIX: Wix.com Ltd. | 106% | 171% | 1.21 |
| TTD: The Trade Desk, Inc. | 140% | 173% | 1.75 |

### What diversifies ADBE?

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 ADBE into LVHI would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (-16.1% for ADBE alone, -9.2% for the mix).
- MCK made money in six of the eight calendar years in which ADBE lost money.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of ADBE over the past 5 years, with correlations of 0.28 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with ADBE | 5Y return | Volatility | Sharpe | Rose in ADBE's 8 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.26 | +119% | 11.1% | 1.48 | 3 of 8 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.19 | +225% | 19.1% | 1.34 | 3 of 8 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.28 | +101% | 14.5% | 1.04 | 3 of 8 |
| HDV: iShares Core High Dividend ETF | 0.34 | +83.3% | 13.0% | 1.00 | 3 of 8 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.30 | +323% | 36.9% | 0.97 | 4 of 8 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.36 | +85.0% | 13.8% | 0.96 | 2 of 8 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.12 | +126% | 18.9% | 0.96 | 5 of 8 |
| FFLC: Fidelity Fundamental Large Cap Core ETF | 0.47 | +107% | 16.8% | 0.95 | 2 of 8 |

## Common questions

### What was ADBE's worst drawdown?

ADBE's deepest decline since it began trading in 1986 was 79.9%, from November 2000 to August 2002. It took about four years from the low to climb back to its old high.

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

Over 29 full calendar years, ADBE's best year was 1999, when it returned 188%. Its worst was 2008, with a return of -50.2%.

### Is there a better investment than ADBE?

Among ADBE's popular alternatives, MSFT, SAP and PTC earned more than ADBE with less volatility over the past 5 years. MSFT returned 12.5% a year at 28.2% volatility, against a loss of 16.5% a year at 38.1%. Looking beyond its popular alternatives, V (payment processing) and MA (payment processing) earned more than ADBE with less volatility over the past 5 years. V returned 12.8% a year at 22.9% volatility, against a loss of 16.5% a year at 38.1%.

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

Yes. ADBE's volatility over the past 5 years was 38.1%, 2.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ADBE's return lands within 38.1% 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 ADBE's Sharpe ratio?

ADBE's Sharpe ratio over the past 5 years was -0.28, against 0.79 for the S&P 500, so ADBE 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 ADBE with the S&P 500?

Over the past 5 years, ADBE's monthly returns had a correlation of 0.57 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 ADBE instead: the lower it is, the more that option would diversify a ADBE holding.

### What are the best alternatives to ADBE?

Of the 21 popular alternatives we compared, nine outperformed ADBE in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: MSFT, NOW and PTC.

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

ADBE finished ahead of the S&P 500 (SPY) in 16 of 29 full calendar years. In 2025, it returned -21.3%, against +17.7% for the index.

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

ADBE fell less than the S&P 500 (SPY) in three of the ten major crashes it has traded through, and further in seven. The clearest case was the dot-com bust, when ADBE fell 79.9% and the S&P 500 fell 47.5%.

### What diversifies ADBE?

These had a low correlation with ADBE over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.26), DXJ (correlation 0.19) and EMLP (correlation 0.28); among large stocks, CAH (correlation 0.09), CLS (correlation 0.18) and FIX (correlation 0.04). A correlation near zero means the two have moved largely independently.

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## Explore further

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