# How Allstate (ALL) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/all
> 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 ALL alone. It places ALL (The Allstate Corporation) 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 ALL stands in the market, and of the alternatives worth a closer look.

Period covered: ALL's full trading record, from June 1993 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** Over the past 6 months, ALL rose 17.3% against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. Its property & casualty insurance peers were far apart over the past 6 months, from TRV (Travelers Companies, up 32.6%) to AIG (American International Group, up 5.6%).
- **Stock or market?:** ALL fell 1.1% over the past 3 months, in line with the property & casualty insurance ETF KIE (State Street SPDR S&P Insurance ETF), which fell 1.2%. The S&P 500 rose 3.9%. Its property & casualty insurance peers did not move as one over the past 3 months: TRV (Travelers Companies) rose 7.8%, while CNA (CNA Financial) fell 7.7%.
- **Past 1 to 3 years:** ALL has run far ahead of the market, rising 31.5% over the past year against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (116% against 89.3%).
- **Long term:** ALL turned $10,000 into $45,600 over the past decade, against $42,100 in the S&P 500. ALL's 10-year return of 356% puts it ahead of 78% of the stocks worth at least $300 million with that much history. The S&P 500 returned 321%.
- **In a crash:** In the Covid crash, ALL fell 40.8%, against 33.7% for the S&P 500. That was more than PGR (Progressive, 18.3%) but less than CB (Chubb, 42.2%).
- **Diversification:** Against the S&P 500, ALL has a correlation of 0.09 over 5 years, less closely than 96% of stocks worth at least $300 million. Next to an index fund it is a real diversifier. ALL's link to the S&P 500 has loosened: a correlation of 0.09 over the past 5 years, down from 0.68 in the 5 years before.
- **Better options**
  - **Nearby categories and themes:** MFC (Manulife Financial, life insurance) and ACT (Enact, insurance) earned more than ALL with less volatility over the past 5 years. MFC returned 22.6% a year at 24.0% volatility, against 17.0% a year at 26.2%.
  - **Whole market:** Few investments have done better on both counts: only 44 of the 3,633 stocks and funds worth at least $500 million earned more than ALL with less volatility over the past 5 years, among them WMT (Walmart), ABBV (AbbVie) and PM (Philip Morris International).

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

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

- $10,000 invested in ALL at the end of September 1997 would have grown to $108,708 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- Six of the eight other investments on the chart ended ahead of ALL, and AJG finished highest, at $566,042.

## ALL 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.

- ALL's deepest decline since it began trading in 1993 was 77.0%, from December 2006 to March 2009. It took about five years from the low to climb back to its old high.
- Over 29 full calendar years, ALL's best was 2000, when it returned 85.6%, and its worst was 1999, when it lost 36.4%. It lost money in ten of those years.
- ALL is 8.8% below its all-time high.

- Type: Stock, Financials (Insurance - Property & Casualty)
- Trading since: June 3, 1993
- Market value: $63B
- Volatility (5 years): 26.2%; Sharpe ratio: 0.73
- Worst decline ever: −77.0%, from December 27, 2006 to March 9, 2009; back at its high by October 17, 2013

| Period | ALL total return |
| --- | --- |
| 1 month | +2.9% |
| 3 months | −1.1% |
| 6 months | +17.3% |
| year to date | +24.4% |
| 1 year | +31.5% |
| 3 years | +116% |
| 5 years | +119% |
| 10 years | +356% |

## ALL against the whole market

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

### How does ALL rank among all stocks?

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

- ALL's worst decline of the past 10 years ranks in the top 8% of the 2,187 stocks worth at least $300 million, where the top fell the least.

| Measure | ALL | Rank |
| --- | --- | --- |
| 1-year return | +31.5% | 930 of 3,287 (top 29%) |
| 3-year return | +116% | 806 of 3,017 (top 27%) |
| 5-year return | +119% | 585 of 2,893 (top 21%) |
| 10-year return | +356% | 475 of 2,202 (top 22%) |
| Volatility, 5 years | 26.2% | 420 of 2,893 (top 15%) |
| Sharpe ratio, 5 years | 0.73 | 394 of 2,893 (top 14%) |
| Worst decline, past 10 years | −41.4% | 184 of 2,187 (top 9%) |

### What has beaten ALL 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).

- 24 stocks and 20 ETFs worth at least $500 million sit in the green region: each earned more than ALL over the past 5 years with smaller price swings. That is 1% of the 3,633 screened. Few investments beat it on both counts.
- Among those with at least half ALL's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 5% less than ALL's 26.2%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.73 for ALL.
- Among ALL's popular alternatives, TRV, ACGL and WRB are in the region. TRV earned 22.4% a year against 17.0% a year for ALL, at 22.3% volatility, 15% less than ALL's 26.2%.

### Is there a better investment than ALL?

The table below lists investments that beat ALL 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 ALL's popular alternatives, TRV, ACGL and WRB earned more than ALL with less volatility over the past 5 years. TRV returned 22.4% a year at 22.3% volatility, against 17.0% a year at 26.2%.
- Looking beyond its popular alternatives, MFC (life insurance) and ACT (insurance) earned more than ALL with less volatility over the past 5 years. MFC returned 22.6% a year at 24.0% volatility, against 17.0% a year at 26.2%.
- Few investments have done better on both counts: only 44 of the 3,633 stocks and funds worth at least $500 million earned more than ALL with less volatility over the past 5 years, among them WMT, ABBV and PM.

The 15 strongest of 44 investments that beat ALL 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 ALL | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ALL: The Allstate Corporation (this page) |  | +17.0% | 26.2% | 0.73 | −41.4% | +356% |  |  |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.33 | Higher return, lower volatility; Higher return in most periods |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | Pharmaceuticals | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.34 | Higher return, lower volatility; Higher return in most periods |
| DXJ: WisdomTree Japan Hedged Equity Fund | International Equity | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.13 | Higher return, lower volatility; Higher return in most periods |
| [PM](https://easycompare.io/research/pm): Philip Morris International Inc. | Tobacco | +21.0% | 23.4% | 0.94 | −42.9% | +242% | 0.23 | Higher return, lower volatility; Higher return in most periods |
| [WMT](https://easycompare.io/research/wmt): Walmart Inc. | Discount Retail | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.18 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [COR](https://easycompare.io/research/cor): Cencora, Inc. | Health Care Distribution | +24.2% | 22.8% | 1.07 | −32.4% | +406% | 0.45 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| EWT: iShares MSCI Taiwan ETF | International Equity | +20.4% | 24.2% | 0.89 | −38.9% | +468% | -0.04 | Higher return, lower volatility; Higher return in most periods |
| [MFC](https://easycompare.io/research/mfc): Manulife Financial Corporation | Life Insurance | +22.6% | 24.0% | 0.97 | −57.5% | +373% | 0.38 | Higher return, lower volatility; Higher return in most periods |
| GLDM: SPDR Gold MiniShares Trust | Gold | +18.1% | 18.9% | 0.98 | −26.3% | — | 0.06 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [TRV](https://easycompare.io/research/trv): The Travelers Companies, Inc. | Property & Casualty Insurance | +22.4% | 22.3% | 1.02 | −46.3% | +347% | 0.74 | Higher return, lower volatility; Higher return in most periods |
| FLTW: Franklin FTSE Taiwan ETF | Technology | +21.8% | 24.3% | 0.94 | −38.0% | — | -0.06 | Higher return, lower volatility; Higher return in most periods |
| SPMO: Invesco S&P 500 Momentum ETF | US Momentum Equity | +18.7% | 20.8% | 0.93 | −30.9% | +499% | 0.12 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| CRAK: VanEck Oil Refiners ETF | Energy | +19.8% | 20.9% | 0.97 | −58.8% | +336% | 0.23 | Higher return, lower volatility; Higher return in most periods |
| [MPLX](https://easycompare.io/research/mplx): MPLX Lp | Oil & Gas Midstream | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.35 | Higher return, lower volatility |
| ACT: Enact Holdings Inc. | Insurance | +20.5% | 24.3% | 0.89 | −20.2% | — | 0.43 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |

## ALL against its popular alternatives

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

### How do ALL'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.

- Five of the 23 popular alternatives, led by TRV, PGR and ACGL, were both more rewarding and calmer than ALL over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, ALL returned 17.0% a year, more than the S&P 500's 12.7%, with higher volatility (26.2% against 17.1%).

### Has ALL consistently beaten its popular alternatives?

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

- Only one of the 23 popular alternatives, TRV, outperformed ALL in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- PGR and RNR earned more for the risk they took than ALL (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 ALL | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| ALL: The Allstate Corporation (this page) | +31.5% | +116% | +119% | +356% |  |  | 0.73 |
| [TRV](https://easycompare.io/research/trv): The Travelers Companies, Inc. | +51.5% | +158% | +174% | +347% | 5/5 short-term, 2/3 long-term | consistent | 1.02 |
| [PGR](https://easycompare.io/research/pgr): The Progressive Corporation | +7.7% | +56.8% | +162% | +816% | 2/5 short-term, 2/3 long-term |  | 0.89 |
| WRB: W. R. Berkley Corporation | +2.3% | +87.3% | +138% | +443% | 2/5 short-term, 2/3 long-term |  | 0.87 |
| RNR: RenaissanceRe Holdings Ltd. | +43.3% | +66.5% | +149% | +215% | 4/5 short-term, 1/3 long-term |  | 0.80 |
| [AJG](https://easycompare.io/research/ajg): Arthur J. Gallagher & Co. | −6.1% | +17.3% | +68.0% | +516% | 2/5 short-term, 1/3 long-term |  | 0.55 |
| ACGL: Arch Capital Group Ltd. | +16.5% | +28.7% | +150% | +309% | 2/5 short-term, 1/3 long-term |  | 0.87 |
| MCY: Mercury General Corporation | +33.9% | +268% | +119% | +198% | 2/5 short-term, 1/3 long-term |  | 0.63 |
| THG: The Hanover Insurance Group, Inc. | +37.7% | +115% | +95.9% | +291% | 5/5 short-term, 0/3 long-term |  | 0.70 |
| [MET](https://easycompare.io/research/met): MetLife, Inc. | +32.2% | +84.0% | +76.5% | +240% | 4/5 short-term, 0/3 long-term |  | 0.58 |
| [CB](https://easycompare.io/research/cb): Chubb Limited | +35.0% | +78.9% | +107% | +248% | 3/5 short-term, 0/3 long-term |  | 0.82 |
| AFG: American Financial Group, Inc. | +20.4% | +66.9% | +59.7% | +321% | 2/5 short-term, 0/3 long-term |  | 0.53 |
| RLI: RLI Corp. | +14.2% | +8.4% | +47.7% | +206% | 2/5 short-term, 0/3 long-term |  | 0.45 |
| ERIE: Erie Indemnity Company | −20.4% | −13.7% | +35.9% | +200% | 2/5 short-term, 0/3 long-term |  | 0.35 |
| [AIG](https://easycompare.io/research/aig): American International Group, Inc. | +8.0% | +47.1% | +54.1% | +75.5% | 2/5 short-term, 0/3 long-term |  | 0.47 |
| KMPR: Kemper Corporation | −37.4% | −24.1% | −48.0% | −3.1% | 2/5 short-term, 0/3 long-term |  | -0.16 |
| HIG: The Hartford Insurance Group, Inc. | +12.1% | +105% | +106% | +294% | 1/5 short-term, 0/3 long-term |  | 0.77 |
| CINF: Cincinnati Financial Corporation | +13.6% | +87.6% | +62.7% | +203% | 1/5 short-term, 0/3 long-term |  | 0.51 |
| ORI: Old Republic International Corporation | +3.6% | +81.5% | +119% | +349% | 0/5 short-term, 0/3 long-term |  | 0.82 |
| KIE: State Street SPDR S&P Insurance ETF | +12.8% | +56.7% | +67.1% | +203% | 0/5 short-term, 0/3 long-term |  | 0.65 |
| [AON](https://easycompare.io/research/aon): Aon plc | −13.0% | −3.1% | −1.6% | +195% | 0/5 short-term, 0/3 long-term |  | 0.11 |
| CNA: CNA Financial Corporation | +15.2% | +56.4% | +55.2% | +183% | 0/5 short-term, 0/3 long-term |  | 0.52 |
| SIGI: Selective Insurance Group, Inc. | +9.1% | −9.1% | +24.1% | +160% | 0/5 short-term, 0/3 long-term |  | 0.30 |
| STC: Stewart Information Services Corporation | −23.8% | +45.0% | −12.5% | +56.2% | 0/5 short-term, 0/3 long-term |  | 0.07 |

### How did ALL do year by year?

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

- ALL finished ahead of the S&P 500 in 15 of its 29 full calendar years.
- Among its popular alternatives, PGR came out ahead of ALL most often, in 18 of the 29 years both traded.
- Ranked against its popular alternatives each year, ALL finished in the top quarter in eight of 29 years and in the bottom quarter in six. In 2025, it ranked 11 of 24.

| Year | ALL | SPY |
| --- | --- | --- |
| 2025 | +10.1% | +17.7% |
| 2024 | +40.6% | +24.9% |
| 2023 | +6.4% | +26.2% |
| 2022 | +18.4% | −18.2% |
| 2021 | +9.9% | +28.7% |
| 2020 | −0.1% | +18.3% |
| 2019 | +38.8% | +31.2% |
| 2018 | −19.5% | −4.6% |
| 2017 | +43.6% | +21.7% |
| 2016 | +21.7% | +12.0% |

## Risk and diversification

How ALL 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 ALL's worst declines?

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

- In all five of ALL's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: ALL fell 64.6% from July 1998 to March 2000, while the S&P 500 rose 20.9%.
- The slowest recovery came after ALL fell 77.0% from December 2006 to March 2009; it did not regain that peak until October 2013, five years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −77.0% | December 27, 2006 | March 9, 2009 | October 17, 2013 | −50.2% | 2008 financial crisis |
| −64.6% | July 8, 1998 | March 13, 2000 | February 2, 2004 | +20.9% | dot-com bust |
| −41.4% | February 14, 2020 | March 23, 2020 | April 16, 2021 | −33.6% | Covid crash |
| −31.8% | October 14, 1993 | April 21, 1994 | July 12, 1995 | −2.8% |  |
| −27.3% | January 6, 2023 | July 14, 2023 | November 30, 2023 | +16.6% | 2023 regional bank crisis |

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

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

- Among its popular alternatives, RLI held up best, falling less than ALL in nine of the ten crashes they both traded through.
- ALL fell further than the S&P 500 in six of the ten crashes it has traded through. The clearest case was the 2008 financial crisis, when ALL fell 74.8% and the S&P 500 fell 55.2%.

| Crash | Dates | ALL fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −30.6% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −74.8% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −0.8% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −20.3% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −10.8% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −8.0% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −23.7% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −40.8% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −20.3% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −6.7% | −3.4% |

### How closely does ALL 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.

- Over the past 10 years, ALL captured 68% of the S&P 500's gains in rising months and 41% of its losses in falling months, with a beta of 0.49. That is a defensive profile: it gave up some of the market's upside in exchange for smaller losses.
- PGR took just -5% of the S&P 500's losses, against 41% for ALL, while still keeping 72% of its gains.
- Four of the 22 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than ALL's 1.66, led by WRB, RNR and AJG.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| ALL: The Allstate Corporation (this page) | 68.0% | 41.0% | 0.49 |
| [TRV](https://easycompare.io/research/trv): The Travelers Companies, Inc. | 70.0% | 48.0% | 0.59 |
| [PGR](https://easycompare.io/research/pgr): The Progressive Corporation | 72.0% | −5.0% | 0.36 |
| WRB: W. R. Berkley Corporation | 68.0% | 26.0% | 0.55 |
| RNR: RenaissanceRe Holdings Ltd. | 46.0% | 20.0% | 0.31 |
| [AJG](https://easycompare.io/research/ajg): Arthur J. Gallagher & Co. | 80.0% | 46.0% | 0.61 |
| ACGL: Arch Capital Group Ltd. | 74.0% | 57.0% | 0.57 |
| MCY: Mercury General Corporation | 63.0% | 59.0% | 0.65 |
| THG: The Hanover Insurance Group, Inc. | 64.0% | 37.0% | 0.60 |
| [MET](https://easycompare.io/research/met): MetLife, Inc. | 91.0% | 97.0% | 1.03 |
| [CB](https://easycompare.io/research/cb): Chubb Limited | 63.0% | 48.0% | 0.54 |
| AFG: American Financial Group, Inc. | 84.0% | 75.0% | 0.78 |
| RLI: RLI Corp. | 57.0% | 54.0% | 0.39 |
| ERIE: Erie Indemnity Company | 50.0% | 33.0% | 0.37 |
| [AIG](https://easycompare.io/research/aig): American International Group, Inc. | 64.0% | 93.0% | 0.91 |
| KMPR: Kemper Corporation | 80.0% | 171% | 0.93 |
| HIG: The Hartford Insurance Group, Inc. | 83.0% | 77.0% | 0.78 |
| CINF: Cincinnati Financial Corporation | 66.0% | 63.0% | 0.60 |
| ORI: Old Republic International Corporation | 82.0% | 61.0% | 0.70 |
| KIE: State Street SPDR S&P Insurance ETF | 75.0% | 77.0% | 0.78 |
| [AON](https://easycompare.io/research/aon): Aon plc | 79.0% | 89.0% | 0.78 |
| CNA: CNA Financial Corporation | 57.0% | 45.0% | 0.54 |
| SIGI: Selective Insurance Group, Inc. | 56.0% | 51.0% | 0.56 |
| STC: Stewart Information Services Corporation | 86.0% | 139% | 1.05 |

### What diversifies ALL?

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 ALL into SMH would have cut the portfolio's volatility by 20% over the past 5 years and raised its annual return (+14.4% for ALL alone, +20.6% for the mix).
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of ALL over the past 5 years, with correlations of 0.47 or lower, and each still earned a positive 5-year return.
- FIX made money in six of the ten calendar years in which ALL lost money.

| Investment | Correlation with ALL | 5Y return | Volatility | Sharpe | Rose in ALL's 10 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.37 | +119% | 11.1% | 1.48 | 0 of 10 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.13 | +225% | 19.1% | 1.34 | 3 of 10 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.47 | +101% | 14.5% | 1.04 | 0 of 10 |
| HDV: iShares Core High Dividend ETF | 0.41 | +83.3% | 13.0% | 1.00 | 0 of 10 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | -0.16 | +323% | 36.9% | 0.97 | 4 of 10 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.19 | +85.0% | 13.8% | 0.96 | 2 of 10 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.06 | +126% | 18.9% | 0.96 | 5 of 10 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.12 | +136% | 20.8% | 0.93 | 1 of 10 |

## Common questions

### What was ALL's worst drawdown?

ALL's deepest decline since it began trading in 1993 was 77.0%, from December 2006 to March 2009. It took about five years from the low to climb back to its old high.

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

Over 29 full calendar years, ALL's best year was 2000, when it returned 85.6%. Its worst was 1999, with a return of -36.4%.

### Is there a better investment than ALL?

Among ALL's popular alternatives, TRV, ACGL and WRB earned more than ALL with less volatility over the past 5 years. TRV returned 22.4% a year at 22.3% volatility, against 17.0% a year at 26.2%. Looking beyond its popular alternatives, MFC (life insurance) and ACT (insurance) earned more than ALL with less volatility over the past 5 years. MFC returned 22.6% a year at 24.0% volatility, against 17.0% a year at 26.2%.

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

Yes. ALL's volatility over the past 5 years was 26.2%, 1.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ALL's return lands within 26.2% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is ALL's Sharpe ratio?

ALL's Sharpe ratio over the past 5 years was 0.73, against 0.79 for the S&P 500, so ALL 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 ALL with the S&P 500?

Over the past 5 years, ALL's monthly returns had a correlation of 0.09 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are close to unrelated, or move in opposite directions, so it can steady a stock portfolio. In the table, the correlation column measures each option against ALL instead: the lower it is, the more that option would diversify a ALL holding.

### What are the best alternatives to ALL?

Of the 23 popular alternatives we compared, one outperformed ALL in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: TRV.

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

ALL finished ahead of the S&P 500 (SPY) in 15 of 29 full calendar years. In 2025, it returned +10.1%, against +17.7% for the index.

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

ALL fell less than the S&P 500 (SPY) in four of the ten major crashes it has traded through, and further in six. The clearest case was the 2008 financial crisis, when ALL fell 74.8% and the S&P 500 fell 55.2%.

### What diversifies ALL?

These had a low correlation with ALL over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.37), DXJ (correlation 0.13) and EMLP (correlation 0.47); among large stocks, CAH (correlation 0.33), CLS (correlation -0.11) and FIX (correlation 0.06). A correlation near zero means the two have moved largely independently.

## More research

- [Travelers Companies (TRV) Performance, Alternatives and Market Rank](https://easycompare.io/research/trv)
- [Progressive (PGR) Performance, Alternatives and Market Rank](https://easycompare.io/research/pgr)
- [Arthur J. Gallagher & Co. (AJG) Performance, Alternatives and Market Rank](https://easycompare.io/research/ajg)
- [MetLife (MET) Performance, Alternatives and Market Rank](https://easycompare.io/research/met)
- [Chubb (CB) Performance, Alternatives and Market Rank](https://easycompare.io/research/cb)
- [American International Group (AIG) Performance, Alternatives and Market Rank](https://easycompare.io/research/aig)
- [AON Performance, Alternatives and Market Rank](https://easycompare.io/research/aon)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/aapl)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)
- [Microsoft (MSFT) Performance, Alternatives and Market Rank](https://easycompare.io/research/msft)

## Explore further

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