Relative Intelligence · Agricultural Products

How Archer-Daniels-Midland (ADM) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on ADM alone. It places ADM (Archer-Daniels-Midland Company) against 15 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 ADM stands in the market, and of the alternatives worth a closer look.
Period covered: ADM's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.
Data as of October 20, 2026. Full tables and charts read best on a larger screen.
On this page12 sections
Key findings
- Right nowADM has outpaced the market, rising 19.2% over the past 6 months against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. After a 54.1% loss from November 2022 to April 2025, ADM has bounced 99.1% off the low. At a glance ↓
- Stock or market?ADM fell 5.5% over the past 3 months, 4.4 points behind the agricultural products ETF MOO (VanEck Agribusiness ETF), which fell 1.1%. The S&P 500 rose 3.9%. Its agricultural product peers did not move as one over the past 3 months: SENEA (Seneca Foods) rose 1.2%, while BG (Bunge Global) fell 14.0%.
- Past 1 to 3 yearsOver the past year, ADM rose 31.1% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. It took 17 months for ADM to win back the 54.1% it lost from November 2022 to April 2025. the S&P 500 fell 28.6% over those same dates. By year ↓
- Long termADM turned $10,000 into $25,600 over the past decade, against $42,100 in the S&P 500. Even so, over the past decade, only DAR (Darling Ingredients) and SENEA (Seneca Foods) of its agricultural product peers outpaced ADM. Growth of $10,000 ↓
- In a crashAcross seven sell-offs, ADM has typically fallen 1.3 times as far as the S&P 500. Crash tests ↓
- DiversificationAgainst the S&P 500, ADM has a correlation of 0.36 over 5 years, less closely than 58% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Over 10 years, ADM's beta versus the S&P 500 was 0.75: 72% of the S&P 500's gains in rising months and 79% of its losses in falling ones. Market capture ↓
- Better options
- Popular alternatives
- DE (Deere & Company) earned more for the risk it took than ADM over the past 5 years, and its worst fall in 10 years was 37.9%, against 54.1% for ADM.
- Nearby categories and themes
- NEU (NewMarket, specialty chemicals) and KO (Coca-Cola, food & beverages) earned more than ADM with less volatility over the past 5 years. NEU returned 21.0% a year at 26.8% volatility, against 7.4% a year at 28.7%.
- Whole market
- 613 of the 3,633 stocks and funds worth at least $500 million earned more than ADM with less volatility over the past 5 years, among them VTI (Vanguard Morningstar Total Stock Market ETF), VOO (Vanguard S&P 500 ETF) and BRK-B (Berkshire Hathaway).
How much would $10,000 in ADM have grown?
This chart tracks a hypothetical $10,000 investment in ADM over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of ADM over the same span and ADM's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.
- $10,000 invested in ADM at the end of September 1997 would have grown to $78,052 by September 2026, less 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 ADM, and MNST finished highest, at $45,663,831.
Choose a period
From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 623 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of ADM; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- MNST$46M+456,538% total · +33.7% a year
- DE$436,954+4,270% total · +13.9% a year
- ANDE$354,030+3,440% total · +13.1% a year
- NEU$344,538+3,345% total · +13.0% a year
- SEB$139,859+1,299% total · +9.5% a year
- SPY (S&P 500)$132,907+1,229% total · +9.3% a year
- ADM$78,052+681% total · +7.3% a year
- DAR$63,368+534% total · +6.6% a year
- ALCO$26,482+165% total · +3.4% a year
- MOS$9,028−9.7% total · −0.4% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,518 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of ADM; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- SENEA$36,914+269% total · +29.8% a year
- NEU$29,325+193% total · +24.0% a year
- ANDE$23,087+131% total · +18.2% a year
- CF$22,921+129% total · +18.0% a year
- DE$21,391+114% total · +16.4% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- KO$18,994+89.9% total · +13.7% a year
- ADM$15,236+52.4% total · +8.8% a year
- DOLE$8,536−14.6% total · −3.1% a year
- DAR$8,444−15.6% total · −3.3% a year
ADM 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.
- ADM's deepest decline since it began trading in 1986 was 68.0%, from April to October 2008. It took about five years from the low to climb back to its old high.
- Over 29 full calendar years, ADM's best was 2013, when it returned 61.8%, and its worst was 2008, when it lost 36.9%. It lost money in 11 of those years.
- ADM is 8.7% below its all-time high.
The company
- Market value
- $39B
- Industry
- Agricultural Farm Products
- Price history from
- October 1986
Returns
- Past 1 year
- +31.1%total return
- Past 3 years
- +22.1%+6.9% a year
- Past 5 years
- +42.9%+7.4% a year
- Past 10 years
- +156%+9.9% a year
- Best calendar year
- +61.8%2013
- Worst calendar year
- −36.9%2008
- Losing years
- 11 of 29full calendar years
Risk
- Volatility
- 28.7%typical yearly swing, 5 years
- Sharpe ratio
- 0.40return per unit of risk, 5 years
- Worst decline ever
- −68.0%Apr 2008 to Oct 2008
- From its all-time high
- −8.7%below the peak
ADM against the whole market
Where ADM ranks among every stock and fund, and what across the market has done better.
How does ADM rank among all stocks?
This section ranks ADM 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 ADM stacks up against its peers, these rankings show where it stands in the market as a whole.
- ADM is among the steadier stocks: its price swings rank in the top 21% of the 2,893 stocks worth at least $300 million, where the top is the calmest.
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 | ADM | Rank | Standing |
|---|---|---|---|
| 1-year return | +31.1% | 945 of 3,287 | top 29% |
| 3-year return | +22.1% | 1,985 of 3,017 | bottom 35% |
| 5-year return | +42.9% | 1,169 of 2,893 | top 40% |
| 10-year return | +156% | 1,051 of 2,202 | top 48% |
| Volatility, 5 years | 28.7% | 610 of 2,893 | top 21% |
| Sharpe ratio, 5 years | 0.40 | 1,238 of 2,893 | top 43% |
| Worst decline, past 10 years | −54.1% | 623 of 2,187 | top 28% |
What has beaten ADM 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). ADM sits where the dashed lines cross. Anything in the green box above and to the left earned more than ADM 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.
- 185 stocks and 428 ETFs worth at least $500 million sit in the green region: each earned more than ADM over the past 5 years with smaller price swings. That is 17% of the 3,633 screened.
- Among those with at least half ADM's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 14% less than ADM's 28.7%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.40 for ADM.
- None of ADM's popular alternatives made it, but WAB (industrial machinery) did: 25.6% a year at 26.2% volatility, 9% less than ADM's 28.7%.
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 ADM; faint dots are 89 more of the 613 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 ADM?
Investments that beat ADM over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among ADM's popular alternatives, DE earned more for the risk it took than ADM over the past 5 years, and its worst fall in 10 years was 37.9%, against 54.1% for ADM.
- Looking beyond its popular alternatives, NEU (specialty chemicals) and KO (food & beverages) earned more than ADM with less volatility over the past 5 years. NEU returned 21.0% a year at 26.8% volatility, against 7.4% a year at 28.7%.
- Across the whole market, 613 of the 3,633 stocks and funds worth at least $500 million earned more than ADM with less volatility over the past 5 years, among them VTI, VOO and BRK-B.
How this works
The table below lists investments that beat ADM 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 ADM'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 ADM 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 ADM'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× ADM's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than ADM'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 | 10Y returntotal | Corr. with ADM?lower diversifies more | Expenseper year | |||
| +7.4% | 28.7% | 0.40 | −54.1% | +156% | 1.00 | — | |||
| +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.36 | 0.09% | |||
| Popular alternativesbest 3 shownThe investments people most often weigh against ADM. 3 of 15 passed at least one test. | |||||||||
| Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +14.4% | 29.9% | 0.60 | −37.9% | +755% | 0.45 | — | ||
CFCF Industries Holdings, Inc. · Chemicals | Higher return in most periods | +16.7% | 38.1% | 0.60 | −60.7% | +516% | 0.50 | — | |
SENEASeneca Foods Corporation · Packaged Foods | Higher return in most periods | +25.2% | 36.4% | 0.81 | −51.3% | +455% | 0.23 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Agricultural Products and the categories next to it (Chemicals, Food & Beverages, Industrial Machinery, Packaged Foods), plus ADM's specific themes. 29 of 84 passed at least one test. | |||||||||
NEUNewMarket Corporation · Specialty Chemicals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +21.0% | 26.8% | 0.85 | −40.7% | +165% | 0.19 | — | |
| Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.37 | — | ||
| Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +17.2% | 24.9% | 0.77 | −30.4% | +285% | 0.06 | — | ||
| Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.36 | — | ||
WTSWatts Water Technologies, Inc. · Industrial Machinery | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +15.3% | 28.4% | 0.65 | −44.1% | +539% | 0.23 | — | |
| Similar return, lower volatility | +6.7% | 21.4% | 0.41 | −37.9% | +208% | 0.38 | — | ||
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,141 of 3,536 passed at least one test. | |||||||||
| Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.18 | — | ||
| Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.32 | — | ||
| Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +38.7% | 25.0% | 1.44 | −38.1% | +586% | 0.15 | — | ||
| Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +16.3% | 24.8% | 0.74 | −43.4% | +241% | 0.24 | — | ||
| Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.31 | — | ||
PDBCInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF · Broad Commodities | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +11.7% | 19.3% | 0.67 | −40.7% | +153% | 0.48 | 0.74% | |
| Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +8.4% | 15.3% | 0.60 | −28.4% | +202% | 0.34 | 0.08% | ||
| Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +18.5% | 28.0% | 0.75 | −38.5% | +1,168% | 0.28 | — | ||
What these numbers mean for ADM
- Annual return
- ADM returned 7.4% 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 $14,300. 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
- ADM's volatility over the past 5 years was 28.7%, 1.7 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ADM's return lands within 28.7% 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
- ADM's Sharpe ratio over the past 5 years was 0.40, against 0.79 for the S&P 500, so ADM 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
- ADM's worst fall from a peak to a low over the past 10 years was 54.1%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 54.1% fall takes a 118% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, ADM'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 ADM instead: the lower it is, the more that option would diversify a ADM holding. Guide: Correlation and diversification →
Show all 613 stocks and funds worth at least $500 million that earned more than ADM 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 | 10Y return | Corr. with ADM | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | Whole market | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.18 | — | |
| 2 | Whole market | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.32 | — | |
| 3 | Whole market | +38.7% | 25.0% | 1.44 | −38.1% | +586% | 0.15 | — | |
| 4 | Whole market | +16.3% | 24.8% | 0.74 | −43.4% | +241% | 0.24 | — | |
| 5 | Whole market | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.31 | — | |
| 6 | Whole market | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.37 | — | |
| 7 | Whole market | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.19 | — | |
| 8 | PDBCInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF · Broad Commodities | Whole market | +11.7% | 19.3% | 0.67 | −40.7% | +153% | 0.48 | 0.74% |
| 9 | Whole market | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.14 | — | |
| 10 | DXJWisdomTree Japan Hedged Equity Fund · International Equity | Whole market | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.18 | 0.48% |
| 11 | NEUNewMarket Corporation · Specialty Chemicals | Same or nearby category | +21.0% | 26.8% | 0.85 | −40.7% | +165% | 0.19 | — |
| 12 | Whole market | +12.4% | 23.8% | 0.61 | −41.0% | +541% | 0.23 | — | |
| 13 | Whole market | +21.0% | 23.4% | 0.94 | −42.9% | +242% | 0.30 | — | |
| 14 | Whole market | +16.8% | 26.1% | 0.73 | −42.0% | +374% | 0.25 | — | |
| 15 | Whole market | +15.8% | 20.0% | 0.84 | −42.0% | +310% | 0.35 | — | |
| 16 | COMTiShares GSCI Commodity Dynamic Roll Strategy ETF · Commodities | Whole market | +13.1% | 21.1% | 0.69 | −39.2% | +160% | 0.46 | 0.49% |
| 17 | CTBICommunity Trust Bancorp, Inc. · Banks - Regional | Whole market | +16.0% | 26.0% | 0.70 | −43.0% | +192% | 0.48 | — |
| 18 | Whole market | +15.7% | 20.4% | 0.82 | −42.6% | +248% | 0.29 | — | |
| 19 | Whole market | +19.4% | 26.0% | 0.82 | −33.6% | +767% | 0.18 | 0.08% | |
| 20 | Whole market | +19.2% | 21.6% | 0.93 | −47.3% | +395% | 0.32 | — | |
| 21 | Whole market | +22.4% | 22.3% | 1.02 | −46.3% | +347% | 0.24 | — | |
| 22 | Whole market | +9.7% | 14.3% | 0.72 | −33.4% | +252% | 0.58 | 0.06% | |
| 23 | Whole market | +26.3% | 24.9% | 1.07 | −41.6% | +654% | 0.28 | — | |
| 24 | Whole market | +12.9% | 19.9% | 0.71 | −46.9% | +187% | 0.37 | — | |
| 25 | Whole market | +16.5% | 23.1% | 0.78 | −48.4% | +808% | 0.25 | — | |
| 26 | RCBCRiver City Bank · Banks - Regional | Whole market | +14.6% | 27.2% | 0.64 | −45.5% | +345% | -0.03 | — |
| 27 | Whole market | +14.4% | 22.1% | 0.72 | −42.7% | +481% | 0.24 | — | |
| 28 | CBOECboe Global Markets, Inc. · Capital Markets | Whole market | +21.5% | 25.1% | 0.91 | −43.2% | +463% | 0.10 | — |
| 29 | Whole market | +17.9% | 25.4% | 0.78 | −42.5% | +284% | 0.37 | — | |
| 30 | SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds | Whole market | +20.6% | 18.4% | 1.12 | −45.7% | — | 0.57 | 0.80% |
| 31 | Whole market | +14.0% | 25.7% | 0.64 | −45.5% | +79.7% | 0.12 | — | |
| 32 | Same or nearby category | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.37 | — | |
| 33 | DGXQuest Diagnostics Incorporated · Medical Diagnostics | Whole market | +12.3% | 22.5% | 0.63 | −36.6% | +243% | 0.34 | — |
| 34 | EMXCiShares MSCI Emerging Markets ex China ETF · Emerging Markets Equity | Whole market | +11.1% | 19.5% | 0.64 | −42.8% | — | 0.35 | 0.25% |
| 35 | EXPDExpeditors International of Washington, Inc. · Freight & Logistics | Whole market | +12.0% | 27.1% | 0.56 | −35.6% | +349% | 0.36 | — |
| 36 | EWTiShares MSCI Taiwan ETF · International Equity | Whole market | +20.4% | 24.2% | 0.89 | −38.9% | +468% | 0.17 | 0.59% |
| 37 | CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity | Whole market | +14.1% | 26.1% | 0.64 | −33.9% | +454% | 0.16 | 0.58% |
| 38 | Whole market | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.34 | — | |
| 39 | VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value | Whole market | +15.9% | 18.4% | 0.90 | −39.5% | +286% | 0.49 | 0.15% |
| 40 | AIZAssurant, Inc. · Property & Casualty Insurance | Whole market | +13.3% | 25.3% | 0.62 | −44.6% | +312% | 0.18 | — |
| 41 | MSGSMadison Square Garden Sports Corp. · Entertainment | Whole market | +18.4% | 25.6% | 0.79 | −41.6% | +432% | 0.32 | — |
| 42 | Same or nearby category | +17.2% | 24.9% | 0.77 | −30.4% | +285% | 0.06 | — | |
| 43 | ACTEnact Holdings Inc. · Insurance | Whole market | +20.5% | 24.3% | 0.89 | −20.2% | — | 0.53 | — |
| 44 | Whole market | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.17 | 0.40% | |
| 45 | THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance | Whole market | +14.4% | 22.9% | 0.70 | −40.1% | +291% | 0.12 | — |
| 46 | FLTWFranklin FTSE Taiwan ETF · Technology | Whole market | +21.8% | 24.3% | 0.94 | −38.0% | — | 0.19 | 0.19% |
| 47 | RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity | Whole market | +16.9% | 25.1% | 0.75 | −33.7% | +572% | 0.27 | 0.40% |
| 48 | MSMMSC Industrial Direct Co., Inc. · Industrial Distribution | Whole market | +13.3% | 25.1% | 0.63 | −48.2% | +184% | 0.42 | — |
| 49 | Whole market | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.43 | 0.04% | |
| 50 | FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives | Whole market | +12.9% | 15.6% | 0.86 | −35.9% | +139% | 0.54 | 0.98% |
| 51 | FRDMFreedom 100 Emerging Markets ETF · International | Whole market | +17.3% | 22.8% | 0.82 | −40.5% | — | 0.40 | 0.49% |
| 52 | DIVBiShares Core Dividend ETF · Dividend & Income | Whole market | +13.9% | 15.4% | 0.93 | −36.9% | — | 0.52 | 0.05% |
| 53 | HACKAmplify Cybersecurity ETF · Technology | Whole market | +12.6% | 25.8% | 0.59 | −38.7% | +373% | 0.11 | 0.60% |
| 54 | Whole market | +9.3% | 19.2% | 0.56 | −30.1% | +344% | 0.05 | — | |
| 55 | Whole market | +12.4% | 20.2% | 0.68 | −32.9% | +185% | 0.36 | — | |
| 56 | FBTFirst Trust NYSE Arca Biotechnology Index Fund · Healthcare | Whole market | +10.8% | 22.2% | 0.58 | −33.3% | +203% | 0.28 | 0.55% |
| 57 | Whole market | +15.8% | 24.6% | 0.72 | −30.7% | +576% | 0.24 | — | |
| 58 | GNRState Street SPDR S&P Global Natural Resources ETF · Natural Resources Equity · Agricultural Commodities theme | Same or nearby category | +10.7% | 20.1% | 0.61 | −48.6% | +173% | 0.70 | 0.40% |
| 59 | IHEiShares U.S. Pharmaceuticals ETF · Broad Market | Whole market | +12.6% | 16.8% | 0.80 | −29.6% | +151% | 0.26 | 0.37% |
| 60 | Whole market | +27.1% | 26.5% | 1.04 | −61.0% | +214% | 0.54 | — | |
| 61 | ATOAtmos Energy Corporation · Gas Utilities | Whole market | +14.9% | 18.4% | 0.85 | −32.9% | +194% | 0.33 | — |
| 62 | DJPiPath Bloomberg Commodity Index Total Return(SM) ETN · Commodities | Whole market | +11.2% | 18.9% | 0.66 | −38.4% | +120% | 0.55 | 0.70% |
| 63 | FYLDCambria Foreign Shareholder Yield ETF · Dividend & Income | Whole market | +13.1% | 16.0% | 0.85 | −44.6% | +203% | 0.47 | 0.59% |
| 64 | EYLDCambria Emerging Shareholder Yield ETF · International | Whole market | +11.9% | 18.4% | 0.70 | −41.8% | +199% | 0.33 | 0.63% |
| 65 | NINiSource Inc · Gas Utilities | Whole market | +15.1% | 20.3% | 0.80 | −30.9% | +158% | 0.38 | — |
| 66 | THFFFirst Financial Corporation · Banks - Regional | Whole market | +15.9% | 26.2% | 0.69 | −42.8% | +161% | 0.39 | — |
| 67 | SPHQInvesco S&P 500 Quality ETF · US Quality Equity | Whole market | +12.0% | 16.7% | 0.76 | −31.6% | +300% | 0.34 | 0.20% |
| 68 | Whole market | +19.5% | 25.2% | 0.84 | −55.8% | +238% | 0.60 | — | |
| 69 | NXTGFirst Trust Indxx NextG ETF · Technology | Whole market | +16.2% | 19.1% | 0.89 | −33.6% | +330% | 0.27 | 0.70% |
| 70 | Whole market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.36 | 0.03% | |
| 71 | Whole market | +21.0% | 24.8% | 0.90 | −67.2% | +233% | 0.48 | — | |
| 72 | PJPInvesco Pharmaceuticals ETF · Healthcare | Whole market | +11.2% | 16.6% | 0.72 | −34.0% | +135% | 0.40 | 0.58% |
| 73 | DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity | Whole market | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.31 | 0.35% |
| 74 | Whole market | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.36 | 0.03% | |
| 75 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.35 | 0.40% |
| 76 | Same or nearby category | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.36 | — | |
| 77 | EBFEnnis, Inc. · Specialty Business Services | Whole market | +11.2% | 21.4% | 0.60 | −35.4% | +163% | 0.31 | — |
| 78 | Whole market | +26.0% | 23.8% | 1.09 | −63.3% | +379% | 0.14 | — | |
| 79 | Whole market | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.17 | — | |
| 80 | Whole market | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.31 | — | |
| 81 | Whole market | +18.0% | 25.8% | 0.78 | −59.6% | +234% | 0.48 | — | |
| 82 | QYLDGlobal X - Nasdaq 100 Covered Call ETF · Equity Income | Whole market | +8.4% | 15.0% | 0.62 | −24.7% | +156% | 0.11 | 0.60% |
| 83 | Whole market | +17.3% | 24.3% | 0.78 | −43.6% | +537% | 0.28 | — | |
| 84 | Whole market | +23.0% | 25.6% | 0.94 | −61.4% | +278% | 0.51 | — | |
| 85 | Whole market | +9.7% | 25.0% | 0.50 | −69.8% | −20.0% | 0.31 | — | |
| 86 | Whole market | +22.6% | 24.0% | 0.97 | −57.5% | +373% | 0.27 | — | |
| 87 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.44 | 0.40% |
| 88 | FTLSFirst Trust Long/Short Equity ETF · Broad Market | Whole market | +10.2% | 10.4% | 0.99 | −20.6% | +158% | 0.31 | 0.95% |
| 89 | PTLCPacer Trendpilot US Large Cap ETF · Broad Market | Whole market | +9.5% | 11.8% | 0.83 | −26.6% | +188% | 0.22 | 0.60% |
| 90 | Whole market | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.11 | — | |
| 91 | Whole market | +21.0% | 26.8% | 0.85 | −50.8% | +694% | 0.31 | — | |
| 92 | Whole market | +14.5% | 23.0% | 0.71 | −35.1% | +553% | 0.17 | 0.18% | |
| 93 | AOAiShares Core 80/20 Aggressive Allocation ETF · Multi-Asset | Whole market | +8.6% | 13.1% | 0.69 | −28.4% | +165% | 0.37 | 0.19% |
| 94 | BRCBrady Corporation · Security & Protection Services | Whole market | +12.0% | 26.3% | 0.56 | −36.2% | +188% | 0.30 | — |
| 95 | Whole market | +9.0% | 22.9% | 0.49 | −40.8% | +320% | 0.23 | — | |
| 96 | HFXINYLI FTSE International Equity Currency Neutral ETF · International | Whole market | +11.4% | 15.3% | 0.79 | −32.4% | +180% | 0.34 | 0.19% |
| 97 | Whole market | +12.1% | 13.7% | 0.90 | −36.8% | +235% | 0.55 | 0.03% | |
| 98 | Whole market | +22.6% | 25.5% | 0.93 | −66.8% | +189% | 0.66 | 0.08% | |
| 99 | Whole market | +11.9% | 19.4% | 0.68 | −54.4% | +30.4% | 0.11 | — | |
| 100 | CHCOCity Holding Company · Banks - Regional | Whole market | +15.9% | 22.8% | 0.77 | −32.3% | +286% | 0.44 | — |
ADM against its popular alternatives
The investments people most often weigh against ADM, compared period by period and year by year.
How do ADM'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 ADM, which divides the map into what did better or worse on each measure.
- None of the 15 popular alternatives earned more than ADM over the past 5 years with smaller price swings, so every higher return on the map came with a bumpier ride.
- Eight of the 15 popular alternatives earned less than ADM over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, ADM returned 7.4% a year, less than the S&P 500's 12.7%, with higher volatility (28.7% against 17.1%).
Green points earned more than ADM 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 |
|---|---|---|
| SENEA Seneca Foods Corporation | +25.2% | 36.4% |
| ANDE The Andersons, Inc. | +17.3% | 39.3% |
| CF CF Industries Holdings, Inc. | +16.7% | 38.1% |
| DE Deere & Company | +14.4% | 29.9% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| ADM This pageArcher-Daniels-Midland Company | +7.4% | 28.7% |
| BG Bunge Global S.A. | +6.1% | 29.9% |
| ALCO Alico, Inc. | +2.9% | 30.3% |
| INGR Ingredion Incorporated | +2.9% | 21.3% |
| AGRO Adecoagro S.A. | +2.9% | 42.0% |
| DOLE Dole plc | −0.3% | 28.7% |
| SEB Seaboard Corporation | −1.7% | 28.3% |
| LMNR Limoneira Company | −5.1% | 36.4% |
| DAR Darling Ingredients Inc. | −5.2% | 40.3% |
| GIS General Mills, Inc. | −8.1% | 22.6% |
| MOS The Mosaic Company | −13.8% | 42.2% |
| CTVA Corteva, Inc. | −21.0% | 47.6% |
Has ADM consistently beaten its popular alternatives?
This section compares ADM with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than ADM helps separate lasting outperformance from a single strong stretch.
- Two of the 15 popular alternatives, CF and SENEA, outperformed ADM in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- SENEA and DE earned more for the risk they took than ADM (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
A green cell means the alternative earned more than ADM over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| ADM Archer-Daniels-Midland Company (this page) | — | −3.5% | −5.5% | +19.2% | +39.1% | +31.1% | +22.1% | +42.9% | +156% | 28.7% | 0.40 | −54.1% | — | $39B | — |
| CF QualifiedCF Industries Holdings, Inc. | 3/5 short3/3 long | −4.3% | −4.1% | +2.7% | +49.3% | +43.4% | +52.2% | +117% | +516% | 38.1% | 0.60 | −60.7% | — | $18B | — |
| SENEA QualifiedSeneca Foods Corporation | 3/5 short3/3 long | −9.7% | +1.2% | +18.7% | +51.0% | +37.0% | +204% | +208% | +455% | 36.4% | 0.81 | −51.3% | — | $1.1B | — |
| DE Agricultural - MachineryDeere & Company | 2/5 short3/3 long | −7.5% | +8.1% | +6.9% | +36.5% | +38.3% | +75.4% | +96.1% | +755% | 29.9% | 0.60 | −37.9% | — | $170B | — |
| DAR Packaged FoodsDarling Ingredients Inc. | 2/5 short2/3 long | −6.4% | −6.7% | +0.2% | +57.3% | +86.2% | +42.0% | −23.4% | +342% | 40.3% | 0.07 | −68.3% | — | $9.3B | — |
| ANDE Agricultural Farm ProductsThe Andersons, Inc. | 1/5 short2/3 long | −4.1% | −15.4% | −9.9% | +24.4% | +39.5% | +39.1% | +122% | +118% | 39.3% | 0.61 | −72.7% | — | $2.2B | — |
| DOLE Agricultural Farm ProductsDole plc | 1/5 short1/3 long | +1.9% | −6.6% | −10.2% | −7.8% | +2.9% | +34.4% | −1.5% | — | 28.7% | 0.13 | −55.7% | — | $1.3B | — |
| ALCO Agricultural Farm ProductsAlico, Inc. | 0/5 short1/3 long | −4.8% | −7.1% | −12.6% | +2.1% | +7.7% | +58.1% | +15.7% | +62.3% | 30.3% | 0.25 | −45.6% | — | $277M | — |
| INGR Packaged FoodsIngredion Incorporated | 2/5 short0/3 long | +0.7% | −4.7% | −13.7% | −9.6% | −17.7% | +16.3% | +15.2% | −2.7% | 21.3% | 0.24 | −56.1% | — | $6.1B | — |
| CTVA Agricultural InputsCorteva, Inc. | 1/5 short0/3 long | +8.7% | −85.1% | −83.9% | −80.8% | −79.0% | −73.5% | −69.2% | — | 47.6% | 0.04 | −87.1% | — | $8.6B | — |
| BG Agricultural Farm ProductsBunge Global S.A. | 0/5 short0/3 long | −8.5% | −14.0% | −14.9% | +13.2% | +8.6% | +10.6% | +34.5% | +131% | 29.9% | 0.35 | −60.5% | — | $20B | — |
| SEB ConglomeratesSeaboard Corporation | 0/5 short0/3 long | −8.6% | −15.9% | −32.3% | −13.8% | +11.1% | +10.1% | −8.1% | +9.0% | 28.3% | 0.08 | −48.4% | — | $3.6B | — |
| AGRO Agricultural Farm ProductsAdecoagro S.A. | 0/5 short0/3 long | −14.2% | −9.9% | −24.2% | +24.3% | +29.2% | −4.1% | +15.2% | −2.0% | 42.0% | 0.28 | −72.0% | — | $5.4B | — |
| MOS Agricultural InputsThe Mosaic Company | 0/5 short0/3 long | −25.8% | −19.6% | −24.5% | −26.7% | −37.4% | −44.6% | −52.3% | −12.6% | 42.2% | -0.14 | −80.8% | — | $5.7B | — |
| GIS Packaged FoodsGeneral Mills, Inc. | 0/5 short0/3 long | −3.8% | −9.4% | −1.8% | −21.8% | −26.8% | −38.8% | −34.5% | −19.1% | 22.6% | -0.26 | −59.6% | — | $18B | — |
| LMNR Agricultural Farm ProductsLimoneira Company | 0/5 short0/3 long | −11.3% | −15.9% | −13.7% | −12.6% | −23.9% | −16.9% | −22.8% | −33.4% | 36.4% | 0.04 | −65.8% | — | $203M | — |
How did ADM do year by year?
This table shows each investment's total return in every full calendar year since 1997, along with where ADM ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with ADM and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- ADM finished ahead of the S&P 500 in 13 of its 29 full calendar years.
- Among its popular alternatives, CTVA came out ahead of ADM most often, in four of the six years both traded.
- Ranked against its popular alternatives each year, ADM finished in the top quarter in five of 29 years and in the bottom quarter in four. In 2025, it ranked 7 of 16.
Newest year first. Green marks a year in which the fund came out ahead of ADM; gray means the two finished within a fraction of a point. The rank row places ADM among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of ADM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ADM This pageArcher-Daniels-Midland Company | — | +18.2% | −27.5% | −20.4% | +40.0% | +37.3% | +12.4% | +17.1% | +5.3% | −9.5% | +28.4% | −27.7% | +22.3% | +61.8% | −1.8% | −2.9% | −2.0% | +10.8% | −36.9% | +47.2% | +31.1% | +12.2% | +49.3% | +24.9% | −12.1% | +1.9% | +32.4% | −24.6% | −16.2% | +6.6% |
| Rank among alternatives | Top quarter in 5 of 29 | 7 of 16 | 12 of 16 | 16 of 16 | 1 of 16 | 5 of 15 | 6 of 15 | 8 of 14 | 3 of 14 | 11 of 14 | 7 of 14 | 9 of 14 | 4 of 14 | 2 of 14 | 14 of 14 | 7 of 13 | 12 of 13 | 11 of 13 | 6 of 13 | 6 of 13 | 7 of 13 | 4 of 12 | 9 of 12 | 7 of 11 | 7 of 11 | 8 of 10 | 1 of 10 | 7 of 10 | 5 of 9 | 5 of 8 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 14 of 29 | +17.7% | +24.9% | +26.2% | −18.2% | +28.7% | +18.3% | +31.2% | −4.6% | +21.7% | +12.0% | +1.2% | +13.5% | +32.3% | +16.0% | +1.9% | +15.1% | +26.4% | −36.8% | +5.1% | +15.9% | +4.8% | +10.7% | +28.2% | −21.6% | −11.7% | −9.8% | +20.4% | +28.7% | +33.5% |
| CF CF Industries Holdings, Inc. | 11 of 20 | −7.2% | +10.1% | −4.7% | +22.3% | +87.2% | −15.7% | +12.7% | +5.1% | +40.3% | −19.3% | −23.5% | +19.4% | +15.9% | +41.3% | +8.0% | +49.6% | +85.8% | −55.2% | +330% | +69.1% | — | — | — | — | — | — | — | — | — |
| SENEA Seneca Foods Corporation | 14 of 27 | +39.6% | +51.1% | −14.0% | +27.1% | +20.2% | −2.2% | +44.5% | −8.2% | −23.2% | +38.2% | +7.2% | −15.2% | +4.9% | +17.7% | −4.3% | +13.0% | +15.3% | −12.8% | −3.3% | +29.2% | +5.6% | −16.3% | +43.8% | +3.9% | +2.8% | +21.7% | −6.1% | — | — |
| DE Deere & Company | 16 of 29 | +11.4% | +7.6% | −5.5% | +26.6% | +28.9% | +58.0% | +18.3% | −2.9% | +54.8% | +39.0% | −11.3% | −0.5% | +8.2% | +14.3% | −5.0% | +56.3% | +44.8% | −58.1% | +98.6% | +42.3% | −6.6% | +16.3% | +44.4% | +7.1% | −2.6% | +8.1% | +34.8% | −42.3% | +46.1% |
| DAR Darling Ingredients Inc. | 14 of 29 | +6.9% | −32.4% | −20.4% | −9.7% | +20.1% | +105% | +45.9% | +6.1% | +40.4% | +22.7% | −42.1% | −13.0% | +30.2% | +20.7% | +0.1% | +58.5% | +52.6% | −52.5% | +110% | +38.8% | −8.9% | +58.0% | +54.2% | +156% | +86.7% | −82.4% | −30.4% | −64.0% | −13.5% |
| ANDE The Andersons, Inc. | 16 of 29 | +33.8% | −28.8% | +67.0% | −7.8% | +61.5% | +0.8% | −13.2% | −2.1% | −29.0% | +43.8% | −39.5% | −9.9% | +110% | −0.3% | +21.6% | +42.3% | +59.0% | −62.8% | +6.3% | +97.7% | +70.6% | +62.2% | +28.6% | +29.5% | +19.1% | +8.0% | −27.2% | +32.0% | −1.1% |
| DOLE Dole plc | 2 of 4 | +13.4% | +12.9% | +30.8% | −25.3% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| ALCO Alico, Inc. | 14 of 29 | +40.9% | −10.2% | +22.8% | −32.6% | +25.3% | −12.1% | +22.5% | +0.8% | +9.5% | −29.2% | −22.3% | +29.7% | +7.0% | +90.4% | −18.1% | −15.9% | −28.9% | +14.6% | −26.3% | +14.3% | −20.3% | +68.4% | +33.3% | −14.1% | +97.6% | +4.7% | −5.0% | −20.1% | +27.0% |
| INGR Ingredion Incorporated | 15 of 28 | −17.9% | +29.2% | +14.1% | +4.5% | +26.4% | −12.6% | +4.7% | −33.1% | +13.9% | +32.4% | +15.3% | +26.7% | +8.8% | +24.6% | +15.9% | +59.7% | +4.0% | −20.4% | +7.4% | +45.7% | −9.7% | +57.2% | +15.9% | −13.4% | +23.0% | −9.8% | +9.2% | +2.4% | — |
| CTVA Corteva, Inc. | 4 of 6 | +18.9% | +20.2% | −17.5% | +25.6% | +23.5% | +33.5% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| BG Bunge Global S.A. | 13 of 24 | +18.6% | −20.7% | +3.8% | +9.3% | +45.9% | +18.9% | +11.8% | −18.0% | −4.8% | +8.7% | −23.5% | +12.5% | +14.7% | +29.1% | −11.4% | +4.3% | +25.1% | −55.1% | +61.8% | +29.5% | +0.3% | +75.2% | +39.0% | +5.2% | — | — | — | — | — |
| SEB Seaboard Corporation | 16 of 29 | +83.5% | −31.8% | −5.2% | −3.8% | +30.1% | −28.5% | +20.4% | −19.7% | +11.8% | +36.5% | −31.0% | +50.2% | +10.5% | +24.9% | +2.3% | +48.3% | +13.3% | −18.6% | −16.6% | +17.0% | +51.7% | +256% | +18.0% | −20.1% | +97.0% | −19.2% | −53.8% | −3.8% | +66.0% |
| AGRO Adecoagro S.A. | 6 of 14 | −12.5% | −12.4% | +38.7% | +11.5% | +13.0% | −18.8% | +20.3% | −32.7% | −0.4% | −15.5% | +53.5% | −1.0% | −4.5% | +2.5% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| MOS The Mosaic Company | 10 of 29 | +1.1% | −29.1% | −16.5% | +12.8% | +72.2% | +7.6% | −25.3% | +14.2% | −10.4% | +10.7% | −38.0% | −1.4% | −15.0% | +13.7% | −33.8% | +28.3% | +73.4% | −63.3% | +342% | +46.0% | −10.4% | +64.4% | −6.2% | −17.4% | −16.1% | −2.8% | −22.0% | −33.9% | −15.5% |
| GIS General Mills, Inc. | 15 of 29 | −23.7% | +1.4% | −20.0% | +28.1% | +18.5% | +13.6% | +43.1% | −31.6% | −0.7% | +10.3% | +11.5% | +10.3% | +27.3% | +3.3% | +17.2% | +3.5% | +20.2% | +9.5% | +1.6% | +20.0% | +1.2% | +12.6% | −1.2% | −7.5% | +19.7% | +28.4% | −5.4% | +11.8% | +16.3% |
| LMNR Limoneira Company | 9 of 22 | −47.3% | +20.2% | +72.2% | −16.8% | −8.2% | −11.6% | −0.1% | −11.8% | +5.2% | +45.6% | −39.6% | −5.4% | +38.1% | +15.6% | −40.7% | +99.1% | +12.0% | −41.1% | −15.8% | +11.8% | +53.9% | +173% | — | — | — | — | — | — | — |
Risk and diversification
How ADM 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 ADM's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents ADM's five deepest drawdowns since it began trading in 1986, 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.
- In all five of ADM's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: ADM fell 57.7% from October 1997 to September 2000, while the S&P 500 rose 52.1%.
- The slowest recovery came after ADM fell 68.0% from April to October 2008; it did not regain that peak until December 2013, five years later.
Green means ADM fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | ADM fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2008 financial crisis | −68.0% | −33.8% | Apr 2008 | Oct 2008 | 6 months | Dec 2013 | 5.2 years |
| Dot-com bust | −57.7% | +52.1% | Oct 1997 | Sep 2000 | 2.9 years | Oct 2004 | 4.1 years |
| 2023 regional bank crisis | −54.1% | +28.6% | Nov 2022 | Apr 2025 | 2.4 years | Sep 2026 | 17 months |
| 2015 China and oil sell-off | −41.9% | −10.2% | May 2015 | Jan 2016 | 8 months | Aug 2018 | 2.6 years |
| Late-2018 sell-off | −40.5% | −20.1% | Oct 2018 | Mar 2020 | 17 months | Oct 2020 | 7 months |
How did ADM do in stock market crashes?
This section measures how far ADM, 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.
- Among its popular alternatives, GIS held up best, falling less than ADM in eight of the ten crashes they both traded through.
- ADM fell further than the S&P 500 in six of the ten crashes it has traded through. The clearest case was the 2015 China and oil sell-off, when ADM fell 35.5% and the S&P 500 fell 12.8%.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than ADM.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ADM This pageArcher-Daniels-Midland Company | — | −4.1% | −26.7% | −33.7% | −22.9% | −2.0% | −35.5% | −24.4% | 0.0% | −68.0% | −31.0% |
| SPY S&P 500State Street SPDR S&P 500 ETF | 6 of 10 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| CF CF Industries Holdings, Inc. | 0 of 9 | −10.7% | −26.4% | −46.4% | −28.0% | −6.1% | −56.0% | −36.3% | −1.2% | −76.8% | — |
| SENEA Seneca Foods Corporation | 5 of 10 | −4.3% | −22.4% | −29.7% | −23.8% | −8.3% | −14.1% | −29.2% | −1.5% | −43.1% | −28.3% |
| DE Deere & Company | 2 of 10 | −6.7% | −33.8% | −37.4% | −17.5% | −6.9% | −24.9% | −24.2% | 0.0% | −73.3% | −37.3% |
| DAR Darling Ingredients Inc. | 1 of 10 | −7.6% | −34.8% | −51.0% | −18.8% | −5.6% | −43.0% | −36.4% | −4.9% | −83.0% | −85.7% |
| ANDE The Andersons, Inc. | 2 of 10 | −10.0% | −48.8% | −29.6% | −28.0% | −6.2% | −37.3% | −29.6% | −3.7% | −78.0% | −22.8% |
| DOLE Dole plc | 0 of 2 | −3.7% | −52.3% | — | — | — | — | — | — | — | — |
| ALCO Alico, Inc. | 3 of 10 | −3.8% | −33.6% | −36.8% | −13.6% | −4.3% | −50.0% | −24.3% | −4.0% | −57.1% | −22.3% |
| INGR Ingredion Incorporated | 5 of 10 | −2.5% | −20.6% | −35.9% | −16.8% | −5.7% | −12.4% | −35.9% | −2.4% | −64.2% | −32.3% |
| CTVA Corteva, Inc. | 1 of 3 | −5.8% | −19.4% | −34.0% | — | — | — | — | — | — | — |
| BG Bunge Global S.A. | 1 of 9 | −5.6% | −34.7% | −44.0% | −25.8% | −3.1% | −39.5% | −23.7% | 0.0% | −77.3% | — |
| SEB Seaboard Corporation | 6 of 10 | −2.2% | −21.1% | −32.7% | −8.8% | −6.0% | −27.8% | −34.4% | −4.2% | −58.0% | −38.0% |
| AGRO Adecoagro S.A. | 3 of 7 | −2.8% | −45.3% | −51.9% | −20.6% | −3.7% | −11.9% | −30.8% | — | — | — |
| MOS The Mosaic Company | 0 of 10 | −12.4% | −44.0% | −63.8% | −25.2% | −7.3% | −50.4% | −35.6% | 0.0% | −86.1% | −52.7% |
| GIS General Mills, Inc. | 8 of 10 | −0.8% | −10.9% | −20.8% | −19.7% | −3.5% | −8.2% | −7.6% | −1.7% | −28.2% | −26.1% |
| LMNR Limoneira Company | 2 of 9 | −0.4% | −33.7% | −44.6% | −33.5% | −5.6% | −43.0% | −40.2% | 0.0% | −61.2% | — |
How closely does ADM 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 ADM with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- SENEA took just 20% of the S&P 500's losses, against 79% for ADM, while still keeping 73% of its gains.
- Over the past 10 years, ADM captured 72% of the S&P 500's gains in rising months and 79% of its losses in falling months, with a beta of 0.75. Its share of the market's losses was slightly larger than its share of the gains.
- Six of the 13 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than ADM's 0.91, led by SENEA, DE and CF.
Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than ADM's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| ADM This pageArcher-Daniels-Midland Company | 72% | 79% | 0.91 | 0.75 |
| SENEA Seneca Foods Corporation | 73% | 20% | 3.70 | 0.34 |
| DE Deere & Company | 110% | 66% | 1.67 | 0.98 |
| CF CF Industries Holdings, Inc. | 102% | 78% | 1.32 | 0.82 |
| ANDE The Andersons, Inc. | 54% | 54% | 1.01 | 0.65 |
| DAR Darling Ingredients Inc. | 118% | 127% | 0.92 | 1.05 |
| BG Bunge Global S.A. | 67% | 72% | 0.92 | 0.66 |
| ALCO Alico, Inc. | 79% | 120% | 0.66 | 0.72 |
| SEB Seaboard Corporation | 30% | 49% | 0.61 | 0.30 |
| MOS The Mosaic Company | 82% | 154% | 0.53 | 1.32 |
| AGRO Adecoagro S.A. | 51% | 100% | 0.51 | 0.63 |
| INGR Ingredion Incorporated | 56% | 114% | 0.49 | 0.72 |
| LMNR Limoneira Company | 47% | 115% | 0.41 | 0.66 |
| GIS General Mills, Inc. | 22% | 65% | 0.34 | 0.27 |
What diversifies ADM?
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 ADM's. Because such investments tend not to fall at the same time, pairing ADM with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in ADM into DXJ would have cut the portfolio's volatility by 18% over the past 5 years and raised its annual return (+8.8% for ADM alone, +13.0% for the mix).
- Among large ETFs, LVHI, DXJ and SMH have moved largely independently of ADM over the past 5 years, with correlations of 0.44 or lower, and each still earned a positive 5-year return.
- MCK made money in seven of the 11 calendar years in which ADM lost money.
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 ADM lost money. The last two columns show a portfolio that is 80% ADM and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2024 | 2023 | 2017 | 2015 | 2012 | 2011 | 2010 | 2008 | 2002 | 1999 | 1998 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ADM Archer-Daniels-Midland Company (this page) | 1.00 | +42.9% | 0.40 | −27.5% | −20.4% | −9.5% | −27.7% | −1.8% | −2.9% | −2.0% | −36.9% | −12.1% | −24.6% | −16.2% | 27.9% | +8.8% |
| LVHI InternationalFranklin International Low Volatility High Dividend Index ETF | 0.44 | +119% | 1.48 | +15.9% | +17.4% | +10.0% | — | — | — | — | — | — | — | — | 23.2% | +10.9% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.18 | +225% | 1.34 | +29.8% | +42.0% | +22.8% | +7.7% | +19.6% | −16.1% | −1.8% | −20.8% | — | — | — | 22.9% | +13.0% |
| SMH TechnologyVanEck Semiconductor ETF | 0.13 | +323% | 0.97 | +39.1% | +73.4% | +38.5% | −0.3% | +8.6% | +6.8% | +19.0% | −44.7% | −47.0% | — | — | 24.2% | +15.6% |
| DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF | 0.31 | +85.0% | 0.96 | +13.4% | +20.1% | +16.7% | +4.1% | +20.9% | — | — | — | — | — | — | 23.1% | +10.4% |
| GLD CommoditiesSPDR Gold Shares | 0.17 | +126% | 0.96 | +26.7% | +12.7% | +12.8% | −10.7% | +6.6% | +9.6% | +29.3% | +4.9% | — | — | — | 23.1% | +11.4% |
| SPMO Broad MarketInvesco S&P 500 Momentum ETF | 0.26 | +136% | 0.93 | +45.8% | +17.6% | +27.8% | — | — | — | — | — | — | — | — | 23.7% | +12.0% |
| VLUE Broad MarketiShares MSCI USA Value Factor ETF | 0.49 | +109% | 0.90 | +7.2% | +14.2% | +21.9% | −4.1% | — | — | — | — | — | — | — | 24.6% | +11.0% |
| EWT TechnologyiShares MSCI Taiwan ETF | 0.17 | +153% | 0.89 | +16.1% | +29.0% | +26.9% | −12.9% | +18.6% | −21.8% | +22.8% | −45.3% | −24.4% | — | — | 23.7% | +12.3% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2024 | 2023 | 2017 | 2015 | 2012 | 2011 | 2010 | 2008 | 2002 | 1999 | 1998 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ADM Archer-Daniels-Midland Company (this page) | 1.00 | +42.9% | 0.40 | −27.5% | −20.4% | −9.5% | −27.7% | −1.8% | −2.9% | −2.0% | −36.9% | −12.1% | −24.6% | −16.2% | 27.9% | +8.8% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.19 | +479% | 1.55 | +19.0% | +34.1% | −12.7% | +12.6% | +3.8% | +8.1% | +21.4% | −39.6% | −8.3% | −36.8% | +51.7% | 23.9% | +15.1% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.14 | +3,143% | 1.47 | +215% | +160% | −11.6% | −6.0% | +11.2% | −24.4% | +2.8% | −20.5% | −65.1% | +350% | — | 26.6% | +27.7% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.22 | +1,636% | 1.46 | +107% | +79.6% | +32.1% | +67.7% | +15.7% | −17.0% | +8.7% | −15.2% | −9.4% | −58.7% | −9.5% | 25.8% | +23.6% |
| MCK Medical - DistributionMcKesson Corporation | 0.15 | +413% | 1.44 | +23.7% | +24.1% | +12.0% | −4.5% | +25.6% | +11.8% | +13.8% | −40.4% | −27.2% | −71.3% | +46.9% | 23.6% | +14.6% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.49 | +690% | 1.41 | −4.0% | +30.4% | +34.8% | +17.4% | +94.3% | — | — | — | — | — | — | 26.1% | +16.7% |
Common questions
What was ADM's worst drawdown?
ADM's deepest decline since it began trading in 1986 was 68.0%, from April to October 2008. It took about five years from the low to climb back to its old high.
What were ADM's best and worst years?
Over 29 full calendar years, ADM's best year was 2013, when it returned 61.8%. Its worst was 2008, with a return of -36.9%.
Is there a better investment than ADM?
Among ADM's popular alternatives, DE earned more for the risk it took than ADM over the past 5 years, and its worst fall in 10 years was 37.9%, against 54.1% for ADM. Looking beyond its popular alternatives, NEU (specialty chemicals) and KO (food & beverages) earned more than ADM with less volatility over the past 5 years. NEU returned 21.0% a year at 26.8% volatility, against 7.4% a year at 28.7%.
Is ADM more volatile than the S&P 500?
Yes. ADM's volatility over the past 5 years was 28.7%, 1.7 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ADM's return lands within 28.7% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.
What is ADM's Sharpe ratio?
ADM's Sharpe ratio over the past 5 years was 0.40, against 0.79 for the S&P 500, so ADM 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 ADM with the S&P 500?
Over the past 5 years, ADM'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 ADM instead: the lower it is, the more that option would diversify a ADM holding.
What are the best alternatives to ADM?
Of the 15 popular alternatives we compared, two outperformed ADM in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: CF and SENEA.
Did ADM outperform the S&P 500?
ADM finished ahead of the S&P 500 (SPY) in 13 of 29 full calendar years. In 2025, it returned +18.2%, against +17.7% for the index.
How did ADM do in stock market crashes?
ADM fell less than the S&P 500 (SPY) in three of the ten major crashes it has traded through, and further in six. The clearest case was the 2015 China and oil sell-off, when ADM fell 35.5% and the S&P 500 fell 12.8%.
What diversifies ADM?
These had a low correlation with ADM over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.44), DXJ (correlation 0.18) and SMH (correlation 0.13); among large stocks, CAH (correlation 0.19), CLS (correlation 0.14) and FIX (correlation 0.22). 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, 10Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than ADM's. Returns within 0.5 points or 3% of ADM's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 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.