# How American Express (AXP) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/axp
> 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 AXP alone. It places AXP (American Express Company) against 18 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 AXP stands in the market, and of the alternatives worth a closer look.

Period covered: AXP'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:** AXP has gone against the market, falling 9.3% over the past 3 months while the S&P 500 rose 3.9%. Its consumer finance peers split over the past 3 months: MA (Mastercard) rose 13.5%, while ENVA (Enova International) fell 22.1%.
- **Stock or market?:** The weakness is AXP's own: it fell 9.3% over the past 3 months while the consumer finance ETF XLF (State Street Financial Select Sector SPDR ETF) fell 0.2%. The S&P 500 rose 3.9%. Its consumer finance peers did not move as one over the past 3 months: MA (Mastercard) rose 13.5%, while ENVA (Enova International) fell 22.1%.
- **Past 1 to 3 years:** Over the past year, AXP fell 7.9% while the S&P 500 rose 15.8%. That said, AXP finished ahead of the S&P 500 in both 2024 and 2025.
- **Long term:** AXP turned $10,000 into $54,600 over the past decade, against $42,100 in the S&P 500. AXP's 10-year return of 446% puts it ahead of 84% of the stocks worth at least $300 million with that much history. The S&P 500 returned 321%.
- **In a crash:** Across seven sell-offs, AXP has typically fallen 1.5 times as far as the S&P 500. Even so, in the 2022 bear market, AXP held up better than COF (Capital One Financial), PYPL and SYF; only V (Visa) and MA fell less.
- **Diversification:** AXP is more of the same, not a cushion: a correlation of 0.64 with the S&P 500 over 5 years and 0.66 with the total US market, more closely than 95% of stocks worth at least $300 million. When the S&P 500 had a down month, AXP usually fell with it (18 of 22 months).
- **Better options**
  - **Popular alternatives:** JPM (JPMorgan Chase & Co.) earned more than AXP with less volatility over the past 5 years: 17.3% a year at 24.3% volatility, against 13.5% a year at 29.3%.
  - **Nearby categories and themes:** RY (Royal Bank of Canada, banks) and TD (Toronto-Dominion Bank, banks) earned more than AXP with less volatility over the past 5 years. RY returned 17.3% a year at 18.2% volatility, against 13.5% a year at 29.3%.
  - **Versus the S&P 500:** The S&P 500 matched AXP's return over the past 5 years (12.7% a year against 13.5%) with 42% less volatility.

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

This chart tracks a hypothetical $10,000 investment in AXP over the past 25 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of AXP over the same span and AXP's popular alternatives, among those that traded for the entire period.

- $10,000 invested in AXP at the end of September 2001 would have grown to $167,508 by September 2026, more than the $114,557 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of AXP, and AAPL finished highest, at $14,356,990.

## AXP 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.

- AXP's deepest decline since it began trading in 1986 was 83.9%, from July 2007 to March 2009. It took about three years from the low to climb back to its old high.
- Over 29 full calendar years, AXP's best was 2009, when it returned 126%, and its worst was 2008, when it lost 63.7%. It lost money in eight of those years.
- AXP is 16.4% below its all-time high.

- Type: Stock, Financials (Financial - Credit Services)
- Trading since: October 17, 1986
- Market value: $215B
- Volatility (5 years): 29.3%; Sharpe ratio: 0.58
- Worst decline ever: −83.9%, from July 19, 2007 to March 6, 2009; back at its high by April 27, 2012

| Period | AXP total return |
| --- | --- |
| 1 month | +1.8% |
| 3 months | −9.3% |
| 6 months | −2.9% |
| year to date | −13.8% |
| 1 year | −7.9% |
| 3 years | +133% |
| 5 years | +88.5% |
| 10 years | +446% |

## AXP against the whole market

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

### How does AXP rank among all stocks?

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

- AXP's 10-year return ranks in the top 16% of the 2,202 stocks worth at least $300 million with 10 years of history.

| Measure | AXP | Rank |
| --- | --- | --- |
| 1-year return | −7.9% | 2,276 of 3,287 (top 70%) |
| 3-year return | +133% | 692 of 3,017 (top 23%) |
| 5-year return | +88.5% | 750 of 2,893 (top 26%) |
| 10-year return | +446% | 352 of 2,202 (top 16%) |
| Volatility, 5 years | 29.3% | 663 of 2,893 (top 23%) |
| Sharpe ratio, 5 years | 0.58 | 719 of 2,893 (top 25%) |
| Worst decline, past 10 years | −49.6% | 449 of 2,187 (top 21%) |

### What has beaten AXP 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).

- 94 stocks and 72 ETFs worth at least $500 million sit in the green region: each earned more than AXP over the past 5 years with smaller price swings. That is 5% of the 3,633 screened.
- Among those with at least half AXP's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 16% less than AXP's 29.3%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.58 for AXP.
- Among AXP's popular alternatives, JPM is in the region. JPM earned 17.3% a year against 13.5% a year for AXP, at 24.3% volatility, 17% less than AXP's 29.3%.

### Is there a better investment than AXP?

The table below lists investments that beat AXP 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 AXP's popular alternatives, JPM earned more than AXP with less volatility over the past 5 years: 17.3% a year at 24.3% volatility, against 13.5% a year at 29.3%.
- Looking beyond its popular alternatives, RY (banks) and TD (banks) earned more than AXP with less volatility over the past 5 years. RY returned 17.3% a year at 18.2% volatility, against 13.5% a year at 29.3%.
- The S&P 500 matched AXP's return over the past 5 years (12.7% a year against 13.5%) with 42% less volatility.

The 15 strongest of 166 investments that beat AXP 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 AXP | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| AXP: American Express Company (this page) |  | +13.5% | 29.3% | 0.58 | −49.6% | +446% |  |  |
| [WMT](https://easycompare.io/research/wmt): Walmart Inc. | Discount Retail | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.30 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [MSI](https://easycompare.io/research/msi): Motorola Solutions, Inc. | Communications Equipment | +14.8% | 23.6% | 0.71 | −32.8% | +625% | 0.20 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [FAST](https://easycompare.io/research/fast): Fastenal Company | Industrial Distribution | +15.8% | 24.6% | 0.72 | −30.7% | +576% | 0.22 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| CBOE: Cboe Global Markets, Inc. | Capital Markets | +21.5% | 25.1% | 0.91 | −43.2% | +463% | -0.02 | 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% | 0.66 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [COST](https://easycompare.io/research/cost): Costco Wholesale Corporation | Discount Retail | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [QQQ](https://easycompare.io/research/qqq): Invesco QQQ Trust, Series 1 | US Large-Cap Growth | +14.5% | 23.0% | 0.71 | −35.1% | +553% | 0.50 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; 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% | 0.27 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MCK](https://easycompare.io/research/mck): McKesson Corporation | Health Care Distribution | +38.7% | 25.0% | 1.44 | −38.1% | +586% | 0.16 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| BFC: Bank First Corporation | Banks - Regional | +19.0% | 27.3% | 0.78 | −39.8% | +496% | 0.26 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VGT](https://easycompare.io/research/vgt): Vanguard Information Technology ETF | Technology Equity | +18.4% | 26.0% | 0.78 | −35.1% | +779% | 0.48 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | Pharmaceuticals | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.04 | Higher return, lower volatility; 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% | 0.25 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [TT](https://easycompare.io/research/tt): Trane Technologies plc | Building Products | +22.7% | 27.7% | 0.88 | −40.5% | +955% | 0.44 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [GWW](https://easycompare.io/research/gww): W.W. Grainger, Inc. | Industrial Distribution | +26.3% | 24.9% | 1.07 | −41.6% | +654% | 0.48 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## AXP against its popular alternatives

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

### How do AXP'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.

- Only JPM was both more rewarding and calmer than AXP over the past 5 years, earning a higher annual return with lower volatility.
- 14 of the 18 popular alternatives earned less than AXP over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, AXP returned 13.5% a year, more than the S&P 500's 12.7%, with higher volatility (29.3% against 17.1%).

### Has AXP consistently beaten its popular alternatives?

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

- ENVA and JPM outperformed AXP in every long-term period and in all but one short-term period, the most consistent record in the group.
- Two of the 18 popular alternatives, ENVA and JPM, outperformed AXP in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- JPM, V and MA earned more for the risk they took than AXP (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 AXP | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| AXP: American Express Company (this page) | −7.9% | +133% | +88.5% | +446% |  |  | 0.58 |
| ENVA: Enova International, Inc. | +63.9% | +289% | +397% | +1,819% | 4/5 short-term, 3/3 long-term | all-weather | 0.98 |
| [JPM](https://easycompare.io/research/jpm): JPMorgan Chase & Co. | +13.0% | +150% | +122% | +537% | 4/5 short-term, 3/3 long-term | all-weather | 0.78 |
| [MA](https://easycompare.io/research/ma): Mastercard Incorporated | +10.3% | +64.3% | +79.2% | +541% | 5/5 short-term, 1/3 long-term |  | 0.61 |
| AFRM: Affirm Holdings, Inc. | +2.5% | +305% | −50.0% | — | 5/5 short-term, 1/3 long-term |  | 0.30 |
| BFH: Bread Financial Holdings, Inc. | +76.6% | +284% | +40.5% | −25.3% | 4/5 short-term, 1/3 long-term |  | 0.38 |
| SYF: Synchrony Financial | +3.2% | +175% | +57.8% | +242% | 3/5 short-term, 1/3 long-term |  | 0.43 |
| [V](https://easycompare.io/research/v): Visa Inc. | +19.0% | +78.2% | +82.5% | +429% | 5/5 short-term, 0/3 long-term |  | 0.64 |
| [PYPL](https://easycompare.io/research/pypl): PayPal Holdings, Inc. | −16.5% | +8.2% | −77.6% | +44.1% | 4/5 short-term, 0/3 long-term |  | -0.47 |
| GPN: Global Payments Inc. | −1.3% | −21.1% | −44.7% | +22.4% | 4/5 short-term, 0/3 long-term |  | -0.14 |
| [COF](https://easycompare.io/research/cof): Capital One Financial Corporation | −4.7% | +134% | +27.0% | +222% | 3/5 short-term, 0/3 long-term |  | 0.31 |
| [SCHW](https://easycompare.io/research/schw): The Charles Schwab Corporation | −3.1% | +86.2% | +19.1% | +221% | 3/5 short-term, 0/3 long-term |  | 0.27 |
| OMF: OneMain Holdings, Inc. | +8.4% | +92.9% | +40.6% | +333% | 2/5 short-term, 0/3 long-term |  | 0.37 |
| FISV: Fiserv, Inc. | −61.1% | −56.3% | −56.2% | −2.7% | 2/5 short-term, 0/3 long-term |  | -0.24 |
| ALLY: Ally Financial Inc. | −3.5% | +73.9% | −19.6% | +159% | 1/5 short-term, 0/3 long-term |  | 0.08 |
| FIS: Fidelity National Information Services, Inc. | −44.3% | −21.6% | −66.6% | −41.3% | 1/5 short-term, 0/3 long-term |  | -0.47 |
| SLM: SLM Corporation | −12.7% | +80.4% | +40.0% | +263% | 0/5 short-term, 0/3 long-term |  | 0.37 |
| SOFI: SoFi Technologies, Inc. | −48.8% | +99.2% | −30.3% | — | 0/5 short-term, 0/3 long-term |  | 0.21 |
| UPST: Upstart Holdings, Inc. | −52.9% | −4.2% | −93.4% | — | 0/5 short-term, 0/3 long-term |  | -0.01 |

### How did AXP do year by year?

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

- AXP finished ahead of the S&P 500 in 19 of its 29 full calendar years, and ahead of it in each of the last five.
- Among its popular alternatives, ENVA came out ahead of AXP most often, in eight of the 11 years both traded.
- Ranked against its popular alternatives each year, AXP finished in the top quarter in five of 29 years and in the bottom quarter in five. In 2025, it ranked 9 of 19.

| Year | AXP | SPY |
| --- | --- | --- |
| 2025 | +26.0% | +17.7% |
| 2024 | +60.3% | +24.9% |
| 2023 | +28.7% | +26.2% |
| 2022 | −8.5% | −18.2% |
| 2021 | +36.9% | +28.7% |
| 2020 | −1.1% | +18.3% |
| 2019 | +32.5% | +31.2% |
| 2018 | −2.6% | −4.6% |
| 2017 | +36.2% | +21.7% |
| 2016 | +8.6% | +12.0% |

## Risk and diversification

How AXP 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 AXP's worst declines?

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

- In all three of AXP's worst declines, the S&P 500 held up better over the same dates.
- The slowest recovery came after AXP fell 59.1% from October 2000 to September 2001; it did not regain that peak until January 2006, four years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −83.9% | July 19, 2007 | March 6, 2009 | April 27, 2012 | −54.0% | 2008 financial crisis |
| −59.1% | October 2, 2000 | September 21, 2001 | January 9, 2006 | −31.5% | dot-com bust |
| −54.0% | October 9, 1989 | October 17, 1990 | September 20, 1993 | — |  |
| −49.6% | February 19, 2020 | March 23, 2020 | February 22, 2021 | −33.7% | Covid crash |
| −46.2% | March 6, 1987 | December 3, 1987 | August 3, 1989 | — |  |

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

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

- AXP fell further than the S&P 500 in nine of the ten crashes it has traded through. The clearest case was the 2008 financial crisis, when AXP fell 83.4% and the S&P 500 fell 55.2%.
- Among its popular alternatives, V held up best, falling less than AXP in all eight crashes they both traded through.

| Crash | Dates | AXP fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −59.1% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −83.4% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −4.5% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −18.1% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −36.6% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −8.6% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −20.7% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −49.6% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −31.6% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −9.8% | −3.4% |

### How closely does AXP 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.

- MA took just 88% of the S&P 500's losses, against 113% for AXP, while still keeping 105% of its gains.
- Over the past 10 years, AXP captured 117% of the S&P 500's gains in rising months and 113% of its losses in falling months, with a beta of 1.16. It amplified the market's moves in both directions.
- Four of the 15 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than AXP's 1.03, led by ENVA, MA and V.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| AXP: American Express Company (this page) | 117% | 113% | 1.16 |
| ENVA: Enova International, Inc. | 170% | 135% | 1.49 |
| [JPM](https://easycompare.io/research/jpm): JPMorgan Chase & Co. | 117% | 103% | 1.09 |
| [MA](https://easycompare.io/research/ma): Mastercard Incorporated | 105% | 88.0% | 0.95 |
| BFH: Bread Financial Holdings, Inc. | 102% | 222% | 1.80 |
| SYF: Synchrony Financial | 125% | 163% | 1.56 |
| [V](https://easycompare.io/research/v): Visa Inc. | 93.0% | 79.0% | 0.87 |
| [PYPL](https://easycompare.io/research/pypl): PayPal Holdings, Inc. | 106% | 186% | 1.25 |
| GPN: Global Payments Inc. | 76.0% | 139% | 0.98 |
| [COF](https://easycompare.io/research/cof): Capital One Financial Corporation | 115% | 146% | 1.39 |
| [SCHW](https://easycompare.io/research/schw): The Charles Schwab Corporation | 89.0% | 90.0% | 0.91 |
| OMF: OneMain Holdings, Inc. | 136% | 167% | 1.63 |
| FISV: Fiserv, Inc. | 51.0% | 107% | 0.86 |
| ALLY: Ally Financial Inc. | 114% | 158% | 1.35 |
| FIS: Fidelity National Information Services, Inc. | 54.0% | 150% | 0.82 |
| SLM: SLM Corporation | 98.0% | 108% | 1.18 |

### What diversifies AXP?

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 AXP into GLD would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (+14.0% for AXP alone, +15.8% for the mix).
- FIX made money in six of the eight calendar years in which AXP lost money.
- Among large ETFs, LVHI, DXJ and GCOW have moved largely independently of AXP over the past 5 years, with correlations of 0.47 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with AXP | 5Y return | Volatility | Sharpe | Rose in AXP's 8 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.47 | +119% | 11.1% | 1.48 | 1 of 8 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.32 | +225% | 19.1% | 1.34 | 3 of 8 |
| GCOW: Pacer Global Cash Cows Dividend ETF | 0.44 | +93.4% | 13.6% | 1.04 | 1 of 8 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.42 | +323% | 36.9% | 0.97 | 2 of 8 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.03 | +126% | 18.9% | 0.96 | 3 of 8 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.49 | +136% | 20.8% | 0.93 | 1 of 8 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.30 | +177% | 25.5% | 0.93 | 3 of 8 |
| EWT: iShares MSCI Taiwan ETF | 0.36 | +153% | 24.2% | 0.89 | 3 of 8 |

## Common questions

### What was AXP's worst drawdown?

AXP's deepest decline since it began trading in 1986 was 83.9%, from July 2007 to March 2009. It took about three years from the low to climb back to its old high.

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

Over 29 full calendar years, AXP's best year was 2009, when it returned 126%. Its worst was 2008, with a return of -63.7%.

### Is there a better investment than AXP?

Among AXP's popular alternatives, JPM earned more than AXP with less volatility over the past 5 years: 17.3% a year at 24.3% volatility, against 13.5% a year at 29.3%. Looking beyond its popular alternatives, RY (banks) and TD (banks) earned more than AXP with less volatility over the past 5 years. RY returned 17.3% a year at 18.2% volatility, against 13.5% a year at 29.3%.

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

Yes. AXP's volatility over the past 5 years was 29.3%, 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, AXP's return lands within 29.3% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is AXP's Sharpe ratio?

AXP's Sharpe ratio over the past 5 years was 0.58, against 0.79 for the S&P 500, so AXP 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 AXP with the S&P 500?

Over the past 5 years, AXP's monthly returns had a correlation of 0.64 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 AXP instead: the lower it is, the more that option would diversify a AXP holding.

### What are the best alternatives to AXP?

Of the 18 popular alternatives we compared, two outperformed AXP in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: ENVA and JPM.

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

AXP finished ahead of the S&P 500 (SPY) in 19 of 29 full calendar years. In 2025, it returned +26.0%, against +17.7% for the index.

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

AXP fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in nine. The clearest case was the 2008 financial crisis, when AXP fell 83.4% and the S&P 500 fell 55.2%.

### What diversifies AXP?

These had a low correlation with AXP over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.47), DXJ (correlation 0.32) and GCOW (correlation 0.44); among large stocks, CAH (correlation 0.41), CLS (correlation 0.42) and FIX (correlation 0.34). A correlation near zero means the two have moved largely independently.

## More research

- [JPMorgan Chase & Co. (JPM) Performance, Alternatives and Market Rank](https://easycompare.io/research/jpm)
- [Mastercard (MA) Performance, Alternatives and Market Rank](https://easycompare.io/research/ma)
- [Visa (V) Performance, Alternatives and Market Rank](https://easycompare.io/research/v)
- [PayPal (PYPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/pypl)
- [Capital One Financial (COF) Performance, Alternatives and Market Rank](https://easycompare.io/research/cof)
- [Charles Schwab (SCHW) Performance, Alternatives and Market Rank](https://easycompare.io/research/schw)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/aapl)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)
- [Microsoft (MSFT) Performance, Alternatives and Market Rank](https://easycompare.io/research/msft)
- [Amazon.com (AMZN) Performance, Alternatives and Market Rank](https://easycompare.io/research/amzn)

## Explore further

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