Relative Intelligence · Pharmaceuticals
How AstraZeneca (AZN) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on AZN alone. It places AZN (AstraZeneca PLC) 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 AZN stands in the market, and of the alternatives worth a closer look.
Period covered: AZN's full trading record, from May 1993 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 nowAZN has gone against the market, falling 15.3% over the past 6 months while the S&P 500 rose 9.1%. At a glance ↓
- Stock or market?AZN rose 3.3% over the past 3 months, in line with the pharmaceuticals ETF IHE (iShares U.S. Pharmaceuticals ETF), which rose 5.0%. The S&P 500 rose 3.9%. Its pharmaceutical peers did not move as one over the past 3 months: ABBV (AbbVie) rose 14.8%, while NVO (Novo Nordisk A/S) fell 20.0%.
- Past 1 to 3 yearsOver the past year, AZN rose 1.8% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (38.8% against 89.3%). On the flip side, AZN lagged its pharmaceutical peers in 2023, then moved up the pack in 2025. By year ↓
- Long termAZN turned $10,000 into $35,700 over the past decade, against $42,100 in the S&P 500. Growth of $10,000 ↓
- In a crashAZN fell less than the S&P 500 in five of seven sell-offs, but the 2015 China and oil sell-off broke the pattern: it fell 18.0%, more than the S&P 500's 12.8%. Crash tests ↓
- DiversificationAgainst the S&P 500, AZN has a correlation of 0.22 over 5 years, less closely than 83% of stocks worth at least $300 million. Next to an index fund it is a real diversifier. Over 10 years, AZN's beta versus the S&P 500 was 0.39: 60% of the S&P 500's gains in rising months and 39% of its losses in falling ones. Market capture ↓
- Better options
- Popular alternatives
- LLY (Eli Lilly and Company), ABBV (AbbVie) and JNJ (Johnson & Johnson) earned more than AZN with less volatility over the past 5 years. LLY returned 40.7% a year at 32.8% volatility, against 8.7% a year at 35.7%.
- Nearby categories and themes
- CAH (Cardinal Health, health care distribution) and MCK (McKesson, health care distribution) earned more than AZN with less volatility over the past 5 years. CAH returned 42.1% a year at 24.7% volatility, against 8.7% a year at 35.7%.
- Whole market
- 764 of the 3,633 stocks and funds worth at least $500 million earned more than AZN with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and MSFT (Microsoft).
How much would $10,000 in AZN have grown?
This chart tracks a hypothetical $10,000 investment in AZN over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of AZN over the same span and AZN'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 AZN at the end of September 1997 would have grown to $129,591 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 AZN, and GILD finished highest, at $1,571,438.
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. 442 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of AZN; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- GILD$2M+15,614% total · +19.1% a year
- AMGN$526,909+5,169% total · +14.6% a year
- LLY$396,376+3,864% total · +13.5% a year
- VRTX$276,941+2,669% total · +12.1% a year
- TMO$235,386+2,254% total · +11.5% a year
- JNJ$189,226+1,792% total · +10.7% a year
- SPY (S&P 500)$132,907+1,229% total · +9.3% a year
- AZN$129,591+1,196% total · +9.2% a year
- NVS$105,143+951% total · +8.5% a year
- MRK$82,561+726% total · +7.6% 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. 1,624 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of AZN; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- LLY$52,411+424% total · +39.3% a year
- ABBV$29,134+191% total · +23.8% a year
- VRTX$28,822+188% total · +23.6% a year
- GILD$25,496+155% total · +20.6% a year
- AMGN$23,160+132% total · +18.3% a year
- NVS$21,146+111% total · +16.2% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- JNJ$18,849+88.5% total · +13.5% a year
- AZN$14,593+45.9% total · +7.9% a year
- TMO$11,986+19.9% total · +3.7% a year
AZN 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.
- AZN's deepest decline since it began trading in 1993 was 48.9%, from October 2006 to March 2009. It took about four years from the low to climb back to its old high.
- Over 29 full calendar years, AZN's best was 2003, when it returned 38.2%, and its worst was 2002, when it lost 23.2%. It lost money in seven of those years.
- AZN is 18.9% below its all-time high.
The company
- Market value
- $262B
- Industry
- Drug Manufacturers - General
- Price history from
- May 1993
Returns
- Past 1 year
- +1.8%total return
- Past 3 years
- +38.8%+11.6% a year
- Past 5 years
- +52.1%+8.7% a year
- Past 10 years
- +257%+13.6% a year
- Best calendar year
- +38.2%2003
- Worst calendar year
- −23.2%2002
- Losing years
- 7 of 29full calendar years
Risk
- Volatility
- 35.7%typical yearly swing, 5 years
- Sharpe ratio
- 0.41return per unit of risk, 5 years
- Worst decline ever
- −48.9%Oct 2006 to Mar 2009
- From its all-time high
- −18.9%below the peak
AZN against the whole market
Where AZN ranks among every stock and fund, and what across the market has done better.
How does AZN rank among all stocks?
This section ranks AZN 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 AZN stacks up against its peers, these rankings show where it stands in the market as a whole.
- AZN's worst decline of the past 10 years ranks in the top 1% of the 2,187 stocks worth at least $300 million, where the top fell the least.
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 | AZN | Rank | Standing |
|---|---|---|---|
| 1-year return | +1.8% | 1,919 of 3,287 | bottom 43% |
| 3-year return | +38.8% | 1,716 of 3,017 | bottom 44% |
| 5-year return | +52.1% | 1,078 of 2,893 | top 37% |
| 10-year return | +257% | 694 of 2,202 | top 32% |
| Volatility, 5 years | 35.7% | 1,181 of 2,893 | top 41% |
| Sharpe ratio, 5 years | 0.41 | 1,197 of 2,893 | top 41% |
| Worst decline, past 10 years | −28.7% | 11 of 2,187 | top 1% |
What has beaten AZN 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). AZN sits where the dashed lines cross. Anything in the green box above and to the left earned more than AZN 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.
- 398 stocks and 366 ETFs worth at least $500 million sit in the green region: each earned more than AZN over the past 5 years with smaller price swings. That is 21% of the 3,633 screened.
- Among those with at least half AZN's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 31% less than AZN's 35.7%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.41 for AZN. MPC earned the most, 51.2% a year, while still swinging less than AZN (33.4% against 35.7%).
- Among AZN's popular alternatives, LLY, ABBV and GILD are in the region. LLY earned 40.7% a year against 8.7% a year for AZN, at 32.8% volatility, 8% less than AZN's 35.7%.
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 AZN; faint dots are 92 more of the 764 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 AZN?
Investments that beat AZN over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among AZN's popular alternatives, LLY, ABBV and JNJ earned more than AZN with less volatility over the past 5 years. LLY returned 40.7% a year at 32.8% volatility, against 8.7% a year at 35.7%.
- Looking beyond its popular alternatives, CAH (health care distribution) and MCK (health care distribution) earned more than AZN with less volatility over the past 5 years. CAH returned 42.1% a year at 24.7% volatility, against 8.7% a year at 35.7%.
- Across the whole market, 764 of the 3,633 stocks and funds worth at least $500 million earned more than AZN with less volatility over the past 5 years, among them AAPL, GOOG and MSFT.
How this works
The table below lists investments that beat AZN 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 AZN'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 AZN 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 AZN'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× AZN's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than AZN'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 AZN?lower diversifies more | Expenseper year | |||
| AZNAstraZeneca PLC · this page | +8.7% | 35.7% | 0.41 | −28.7% | +257% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.22 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against AZN. 11 of 21 passed at least one test. | |||||||||
 LLYEli Lilly and Company · Pharmaceuticals | Higher return, lower volatilityHigher return in most periods | +40.7% | 32.8% | 1.21 | −34.5% | +1,807% | 0.34 | — | |
 ABBVAbbVie Inc. · Pharmaceuticals | Higher return, lower volatilityHigher return in most periods | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.36 | — | |
 JNJJohnson & Johnson · Pharmaceuticals | Higher return, lower volatilityHigher return in most periods | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.50 | — | |
 NVSNovartis AG · Pharmaceuticals | Higher return, lower volatilityHigher return in most periods | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.59 | — | |
 GILDGilead Sciences, Inc. · Biotechnology | Higher return, lower volatilityHigher return in most periods | +22.8% | 24.9% | 0.95 | −30.5% | +200% | 0.20 | — | |
 GSKGSK plc · Pharmaceuticals | Similar return, lower volatilityHigher return in most periods | +9.5% | 24.5% | 0.49 | −37.6% | +95.1% | 0.51 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Pharmaceuticals and the categories next to it (Biotechnology, Health Care Distribution, Life Sciences Tools, Medical Devices), plus AZN's specific themes. 24 of 105 passed at least one test. | |||||||||
 CAHCardinal Health, Inc. · Health Care Distribution | On the frontierHigher return, lower volatilityHigher return in most periods | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.27 | — | |
 MCKMcKesson Corporation · Health Care Distribution | Higher return, lower volatilityHigher return in most periods | +38.7% | 25.0% | 1.44 | −38.1% | +586% | 0.16 | — | |
 CORCencora, Inc. · Health Care Distribution | Higher return, lower volatilityHigher return in most periods | +24.2% | 22.8% | 1.07 | −32.4% | +406% | 0.35 | — | |
RPRXRoyalty Pharma plc · Pharmaceuticals | Higher return, lower volatilityHigher return in most periods | +13.3% | 23.8% | 0.65 | −49.7% | — | 0.28 | — | |
INCYIncyte Corporation · Biotechnology | Higher return, lower volatilityHigher return in most periods | +12.2% | 30.1% | 0.53 | −66.5% | +31.8% | 0.32 | — | |
UTHRUnited Therapeutics Corporation · Biotechnology | Higher return, similar volatilityHigher return in most periods | +23.6% | 35.1% | 0.78 | −55.6% | +390% | 0.17 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,270 of 3,507 passed at least one test. | |||||||||
 DFACDimensional - US Core Equity 2 ETF · US Total Market | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +11.4% | 17.0% | 0.72 | −23.1% | — | 0.24 | 0.21% | |
PJULInnovator U.S. Equity Power Buffer ETF · Broad Market | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +10.5% | 8.6% | 1.20 | −18.2% | — | 0.23 | 0.79% | |
FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.21 | 0.85% | |
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.28 | 0.15% | |
DTMDT Midstream, Inc. · Oil & Gas Midstream | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +24.5% | 25.2% | 1.00 | −23.6% | — | 0.13 | — | |
BUFRFT Vest Laddered Buffer ETF · Buffered Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +9.9% | 10.5% | 0.96 | −13.7% | — | 0.26 | 0.10% | |
 PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas | On the frontierHigher return, similar volatilityHigher return in most periods | +51.8% | 37.5% | 1.31 | −71.7% | +768% | 0.03 | — | |
ACIOAptus Collared Income Opportunity ETF · Dividend & Income | Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +9.3% | 11.1% | 0.86 | −14.2% | — | 0.20 | 0.79% | |
What these numbers mean for AZN
- Annual return
- AZN returned 8.7% 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 $15,200. 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
- AZN's volatility over the past 5 years was 35.7%, about twice the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, AZN's return lands within 35.7% 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
- AZN's Sharpe ratio over the past 5 years was 0.41, against 0.79 for the S&P 500, so AZN 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
- AZN's worst fall from a peak to a low over the past 10 years was 28.7%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 28.7% fall takes a 40.3% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, AZN's monthly returns had a correlation of 0.22 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 AZN instead: the lower it is, the more that option would diversify a AZN holding. Guide: Correlation and diversification →
Show all 764 stocks and funds worth at least $500 million that earned more than AZN 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 AZN | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | DFACDimensional - US Core Equity 2 ETF · US Total Market | Whole market | +11.4% | 17.0% | 0.72 | −23.1% | — | 0.24 | 0.21% |
| 2 | PJULInnovator U.S. Equity Power Buffer ETF · Broad Market | Whole market | +10.5% | 8.6% | 1.20 | −18.2% | — | 0.23 | 0.79% |
| 3 | FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset | Whole market | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.21 | 0.85% |
| 4 | AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Whole market | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.28 | 0.15% |
| 5 | DTMDT Midstream, Inc. · Oil & Gas Midstream | Whole market | +24.5% | 25.2% | 1.00 | −23.6% | — | 0.13 | — |
| 6 | BUFRFT Vest Laddered Buffer ETF · Buffered Equity | Whole market | +9.9% | 10.5% | 0.96 | −13.7% | — | 0.26 | 0.10% |
| 7 |  RYRoyal Bank of Canada · Banks | Whole market | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.22 | — |
| 8 |  MPCMarathon Petroleum Corporation · Oil & Gas | Whole market | +51.2% | 33.4% | 1.41 | −79.7% | +1,387% | 0.08 | — |
| 9 | JAVAJPMorgan Active Value ETF · US Large-Cap Value | Whole market | +11.5% | 14.5% | 0.82 | −16.5% | — | — | 0.44% |
| 10 | ACTEnact Holdings Inc. · Insurance | Whole market | +20.5% | 24.3% | 0.89 | −20.2% | — | 0.27 | — |
| 11 |  AAPLApple Inc. · Computer Hardware | Whole market | +18.5% | 28.0% | 0.75 | −38.5% | +1,168% | 0.13 | — |
| 12 |  GOOGAlphabet Inc. · Internet Services | Whole market | +19.0% | 32.0% | 0.71 | −44.6% | +752% | 0.16 | — |
| 13 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.28 | — |
| 14 |  MSFTMicrosoft Corporation · Software | Whole market | +12.5% | 28.2% | 0.56 | −37.1% | +946% | -0.09 | — |
| 15 | FTLSFirst Trust Long/Short Equity ETF · Broad Market | Whole market | +10.2% | 10.4% | 0.99 | −20.6% | +158% | 0.17 | 0.95% |
| 16 |  VOOVanguard S&P 500 ETF · US Large-Cap Equity | Whole market | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.22 | 0.03% |
| 17 | QDPLPacer Metaurus US Large Cap Dividend Multiplier 400 ETF · Dividend & Income | Whole market | +11.8% | 15.0% | 0.82 | −22.6% | — | 0.20 | 0.60% |
| 18 |  WMTWalmart Inc. · Discount Retail | Whole market | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.30 | — |
| 19 |  BRK-BBerkshire Hathaway Inc. · Insurance | Whole market | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.44 | — |
| 20 | FFLCFidelity Fundamental Large Cap Core ETF · Broad Market | Whole market | +15.7% | 16.8% | 0.95 | −19.7% | — | 0.23 | 0.38% |
| 21 |  XOMExxonmobil Holdings Corporation · Integrated Oil & Gas | Whole market | +27.1% | 26.5% | 1.04 | −61.0% | +214% | 0.25 | — |
| 22 | INFLHorizon Kinetics Inflation Beneficiaries ETF · Broad Market | Whole market | +11.8% | 17.8% | 0.72 | −21.3% | — | 0.33 | 0.85% |
| 23 |  JPMJPMorgan Chase & Co. · Banks | Whole market | +17.3% | 24.3% | 0.78 | −43.6% | +537% | 0.17 | — |
| 24 | FTQIFirst Trust Nasdaq BuyWrite Income ETF · Dividend & Income | Whole market | +11.5% | 14.8% | 0.82 | −19.4% | +121% | 0.19 | 0.75% |
| 25 | CAHCardinal Health, Inc. · Health Care Distribution | Same or nearby category | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.27 | — |
| 26 |  HSBCHSBC Holdings plc · Banks | Whole market | +33.1% | 25.9% | 1.24 | −62.3% | +319% | 0.28 | — |
| 27 | SIXHETC 6 Meridian Hedged Equity Index Option ETF · Broad Market | Whole market | +10.2% | 10.2% | 1.00 | −11.7% | — | 0.47 | 0.31% |
| 28 |  VVisa Inc. · Payment Processing | Whole market | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.14 | — |
| 29 | DXJWisdomTree Japan Hedged Equity Fund · International Equity | Whole market | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.30 | 0.48% |
| 30 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.47 | 0.40% |
| 31 |  KOThe Coca-Cola Company · Food & Beverages | Whole market | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.59 | — |
| 32 |  CVXChevron Corporation · Integrated Oil & Gas | Whole market | +19.5% | 25.2% | 0.84 | −55.8% | +238% | 0.26 | — |
| 33 |  CATCaterpillar Inc. · Industrial Machinery | Whole market | +31.1% | 31.9% | 1.01 | −43.4% | +936% | 0.32 | — |
| 34 |  COSTCostco Wholesale Corporation · Discount Retail | Whole market | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.28 | — |
| 35 |  QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth | Whole market | +14.5% | 23.0% | 0.71 | −35.1% | +553% | 0.12 | 0.18% |
| 36 |  MUFGMitsubishi UFJ Financial Group, Inc. · Banks | Whole market | +33.2% | 29.4% | 1.13 | −54.9% | +483% | 0.09 | — |
| 37 |  MAMastercard Incorporated · Payment Processing | Whole market | +12.4% | 23.8% | 0.61 | −41.0% | +541% | 0.18 | — |
| 38 |  PMPhilip Morris International Inc. · Tobacco | Whole market | +21.0% | 23.4% | 0.94 | −42.9% | +242% | 0.33 | — |
| 39 |  CSCOCisco Systems, Inc. · Communications Equipment | Whole market | +16.8% | 26.1% | 0.73 | −42.0% | +374% | 0.15 | — |
| 40 |  SHELShell plc · Integrated Oil & Gas | Whole market | +21.0% | 24.8% | 0.90 | −67.2% | +233% | 0.23 | — |
| 41 |  APHAmphenol Corporation · Electronic Components | Whole market | +33.8% | 32.2% | 1.07 | −37.5% | +965% | 0.19 | — |
| 42 |  WELLWelltower Inc. · Healthcare REITs | Whole market | +26.0% | 23.8% | 1.09 | −63.3% | +379% | 0.41 | — |
| 43 |  RTXRTX Corporation · Aerospace & Defense | Whole market | +18.6% | 24.3% | 0.83 | −52.0% | +317% | 0.25 | — |
| 44 |  SANBanco Santander, S.A. · Banks | Whole market | +31.7% | 33.9% | 0.99 | −73.8% | +332% | 0.28 | — |
| 45 |  BBVABanco Bilbao Vizcaya Argentaria, S.A. · Banks | Whole market | +38.7% | 33.3% | 1.16 | −69.6% | +542% | 0.24 | — |
| 46 |  GSThe Goldman Sachs Group, Inc. · Capital Markets | Whole market | +19.6% | 28.6% | 0.77 | −48.8% | +521% | 0.20 | — |
| 47 |  MSMorgan Stanley · Capital Markets | Whole market | +16.0% | 28.8% | 0.66 | −51.3% | +627% | 0.10 | — |
| 48 |  TDThe Toronto-Dominion Bank · Banks | Whole market | +15.8% | 20.0% | 0.84 | −42.0% | +310% | 0.14 | — |
| 49 |  MFGMizuho Financial Group, Inc. · Banks | Whole market | +33.6% | 30.6% | 1.10 | −45.7% | +345% | 0.12 | — |
| 50 |  TJXThe TJX Companies, Inc. · Specialty Retail | Whole market | +19.9% | 22.3% | 0.93 | −42.5% | +361% | 0.12 | — |
| 51 |  TTETotalEnergies SE · Integrated Oil & Gas | Whole market | +18.0% | 25.8% | 0.78 | −59.6% | +234% | 0.32 | — |
| 52 |  IBMInternational Business Machines Corporation · IT Services | Whole market | +16.6% | 30.5% | 0.66 | −41.1% | +151% | 0.06 | — |
| 53 |  LINLinde plc · Chemicals | Whole market | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.38 | — |
| 54 |  PSXPhillips 66 · Oil & Gas | Whole market | +33.2% | 32.9% | 1.04 | −64.2% | +430% | 0.19 | — |
| 55 |  VGTVanguard Information Technology ETF · Technology Equity | Whole market | +18.4% | 26.0% | 0.78 | −35.1% | +779% | 0.07 | 0.09% |
| 56 |  UBSUBS Group AG · Banks | Whole market | +25.4% | 30.4% | 0.90 | −59.8% | +374% | 0.09 | — |
| 57 |  SAPSAP SE · Enterprise Software | Whole market | +11.5% | 30.0% | 0.52 | −52.5% | +205% | 0.01 | — |
| 58 |  SMFGSumitomo Mitsui Financial Group, Inc. · Banks | Whole market | +33.7% | 29.4% | 1.14 | −47.6% | +474% | 0.11 | — |
| 59 |  PHParker-Hannifin Corporation · Industrial Machinery | Whole market | +27.4% | 28.8% | 0.99 | −54.7% | +789% | 0.22 | — |
| 60 |  BHPBHP Group Limited · Metals & Mining | Whole market | +16.6% | 31.4% | 0.65 | −44.3% | +398% | 0.25 | — |
| 61 |  CCitigroup Inc. · Banks | Whole market | +15.1% | 29.4% | 0.63 | −56.5% | +234% | 0.13 | — |
| 62 |  BTIBritish American Tobacco p.l.c. · Tobacco | Whole market | +18.7% | 22.0% | 0.90 | −56.1% | +98.2% | 0.36 | — |
| 63 |  PGRThe Progressive Corporation · Property & Casualty Insurance | Whole market | +21.3% | 25.6% | 0.89 | −30.3% | +816% | 0.20 | — |
| 64 |  COPConocoPhillips · Exploration & Production | Whole market | +18.2% | 32.6% | 0.68 | −70.7% | +379% | 0.11 | — |
| 65 |  CBChubb Limited · Property & Casualty Insurance | Whole market | +15.7% | 20.4% | 0.82 | −42.6% | +248% | 0.24 | — |
| 66 |  TXNTexas Instruments Incorporated · Semiconductors | Whole market | +9.9% | 33.7% | 0.45 | −33.4% | +424% | 0.21 | — |
| 67 |  MOAltria Group, Inc. · Tobacco | Whole market | +17.8% | 21.4% | 0.88 | −53.7% | +140% | 0.35 | — |
| 68 |  SUSuncor Energy Inc. · Integrated Oil & Gas | Whole market | +33.1% | 32.5% | 1.05 | −73.5% | +295% | 0.16 | — |
| 69 |  TRGPTarga Resources Corp. · Oil & Gas Midstream | Whole market | +41.8% | 31.7% | 1.27 | −90.8% | +829% | 0.31 | — |
| 70 |  CNQCanadian Natural Resources Limited · Oil & Gas | Whole market | +26.5% | 32.5% | 0.89 | −77.5% | +433% | 0.17 | — |
| 71 |  BNYBank of New York Mellon Corp · Banks | Whole market | +22.7% | 24.4% | 0.97 | −50.5% | +341% | 0.08 | — |
| 72 |  WMBThe Williams Companies, Inc. · Oil & Gas Midstream | Whole market | +24.6% | 24.0% | 1.04 | −68.1% | +288% | 0.22 | — |
| 73 |  CMCanadian Imperial Bank of Commerce · Banks | Whole market | +19.2% | 21.6% | 0.93 | −47.3% | +395% | 0.20 | — |
| 74 |  DEDeere & Company · Industrial Machinery | Whole market | +14.4% | 29.9% | 0.60 | −37.9% | +755% | 0.34 | — |
| 75 |  VIGVanguard Dividend Appreciation ETF · US Dividend Equity | Whole market | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.35 | 0.04% |
| 76 |  ITUBItaú Unibanco Holding S.A. · Banks | Whole market | +26.3% | 33.8% | 0.86 | −62.1% | +190% | 0.19 | — |
| 77 |  TRVThe Travelers Companies, Inc. · Property & Casualty Insurance | Whole market | +22.4% | 22.3% | 1.02 | −46.3% | +347% | 0.21 | — |
| 78 |  TTTrane Technologies plc · Building Products | Whole market | +22.7% | 27.7% | 0.88 | −40.5% | +955% | 0.18 | — |
| 79 |  MARMarriott International, Inc. · Hotels & Resorts | Whole market | +22.0% | 28.6% | 0.84 | −61.3% | +544% | 0.19 | — |
| 80 |  EEni S.p.A. · Integrated Oil & Gas | Whole market | +23.0% | 25.6% | 0.94 | −61.4% | +278% | 0.22 | — |
| 81 |  EPDEnterprise Products Partners L.P. · Oil & Gas Midstream | Whole market | +16.4% | 17.1% | 0.98 | −58.1% | +178% | 0.27 | — |
| 82 |  INGING Groep N.V. · Banks | Whole market | +24.7% | 31.1% | 0.87 | −74.4% | +339% | 0.11 | — |
| 83 |  IMOImperial Oil Limited · Integrated Oil & Gas | Whole market | +34.3% | 32.0% | 1.09 | −77.1% | +430% | 0.29 | — |
| 84 |  BPBP p.l.c. · Integrated Oil & Gas | Whole market | +16.0% | 28.7% | 0.66 | −63.9% | +141% | 0.22 | — |
| 85 |  BMOBank of Montreal · Banks | Whole market | +13.6% | 21.4% | 0.71 | −51.0% | +295% | 0.17 | — |
| 86 |  TAT&T Inc. · Integrated Telecommunications | Whole market | +9.8% | 25.2% | 0.50 | −39.4% | +60.7% | 0.13 | — |
| 87 |  MFCManulife Financial Corporation · Life Insurance | Whole market | +22.6% | 24.0% | 0.97 | −57.5% | +373% | 0.20 | — |
| 88 |  GWWW.W. Grainger, Inc. · Industrial Distribution | Whole market | +26.3% | 24.9% | 1.07 | −41.6% | +654% | 0.12 | — |
| 89 |  BNSThe Bank of Nova Scotia · Banks | Whole market | +12.9% | 19.9% | 0.71 | −46.9% | +187% | 0.22 | — |
| 90 |  RIORio Tinto Group · Metals & Mining | Whole market | +12.2% | 29.0% | 0.54 | −37.5% | +464% | 0.27 | — |
| 91 |  HLTHilton Worldwide Holdings Inc. · Hotels & Resorts | Whole market | +21.0% | 26.8% | 0.85 | −50.8% | +694% | 0.22 | — |
| 92 |  MNSTMonster Beverage Corporation · Food & Beverages | Whole market | +17.2% | 24.9% | 0.77 | −30.4% | +285% | 0.09 | — |
| 93 |  KMIKinder Morgan, Inc. · Oil & Gas Midstream | Whole market | +18.7% | 22.5% | 0.88 | −55.1% | +163% | 0.19 | — |
| 94 |  VTVanguard Total World Stock ETF · Global Equity | Whole market | +10.3% | 16.2% | 0.69 | −34.2% | +223% | 0.29 | 0.06% |
| 95 |  CTASCintas Corporation · Business Services | Whole market | +16.5% | 23.1% | 0.78 | −48.4% | +808% | 0.21 | — |
| 96 |  CMECME Group Inc. · Capital Markets | Whole market | +11.2% | 20.8% | 0.62 | −37.4% | +319% | 0.04 | — |
| 97 |  GDGeneral Dynamics Corporation · Aerospace & Defense | Whole market | +12.9% | 20.8% | 0.69 | −51.6% | +184% | 0.22 | — |
| 98 |  AFLAflac Incorporated · Life Insurance | Whole market | +19.0% | 20.8% | 0.95 | −54.9% | +335% | 0.28 | — |
| 99 |  JCIJohnson Controls International plc · Building Products | Whole market | +17.4% | 29.1% | 0.70 | −46.4% | +426% | 0.28 | — |
| 100 |  LYGLloyds Banking Group plc · Banks | Whole market | +20.3% | 32.1% | 0.74 | −66.5% | +213% | 0.38 | — |
AZN against its popular alternatives
The investments people most often weigh against AZN, compared period by period and year by year.
How do AZN'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 AZN, which divides the map into what did better or worse on each measure.
- Ten of the 21 popular alternatives, led by LLY, ABBV and GILD, were both more rewarding and calmer than AZN over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, AZN returned 8.7% a year, less than the S&P 500's 12.7%, with higher volatility (35.7% against 17.1%).
Green points earned more than AZN 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 |
|---|---|---|
| LLY Eli Lilly and Company | +40.7% | 32.8% |
| ABBV AbbVie Inc. | +26.1% | 23.4% |
| GILD Gilead Sciences, Inc. | +22.8% | 24.9% |
| VRTX Vertex Pharmaceuticals Incorporated | +22.6% | 29.1% |
| AMGN Amgen Inc. | +19.6% | 24.9% |
| NVS Novartis AG | +17.2% | 20.7% |
| MRK Merck & Co., Inc. | +16.3% | 24.8% |
| JNJ Johnson & Johnson | +12.7% | 17.9% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| TAK Takeda Pharmaceutical Company Limited | +11.8% | 19.4% |
| GSK GSK plc | +9.5% | 24.5% |
| AZN This pageAstraZeneca PLC | +8.7% | 35.7% |
| REGN Regeneron Pharmaceuticals, Inc. | +7.7% | 31.1% |
| BMY Bristol-Myers Squibb Company | +5.5% | 24.9% |
| WAT Waters Corporation | +4.5% | 33.9% |
| TMO Thermo Fisher Scientific Inc. | +2.9% | 27.8% |
| IQV IQVIA Holdings Inc. | +1.3% | 34.7% |
| SNY Sanofi | +0.6% | 25.3% |
| PFE Pfizer Inc. | −1.7% | 25.4% |
| BIIB Biogen Inc. | −1.8% | 34.7% |
| DHR Danaher Corporation | −3.8% | 29.1% |
| NVO Novo Nordisk A/S | −4.0% | 39.1% |
| ROG Rogers Corporation | −6.5% | 41.6% |
Has AZN consistently beaten its popular alternatives?
This section compares AZN 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 AZN helps separate lasting outperformance from a single strong stretch.
- 11 of the 21 popular alternatives, led by LLY, ABBV and AMGN, outperformed AZN in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- LLY, ABBV and AMGN outperformed AZN in every long-term period and in all but one short-term period, the most consistent record in the group.
- NVS, AMGN and JNJ earned more for the risk they took than AZN (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 AZN 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 | ||
| AZN AstraZeneca PLC (this page) | — | +0.4% | +3.3% | −15.3% | −7.0% | +1.8% | +38.8% | +52.1% | +257% | 35.7% | 0.41 | −28.7% | — | $262B | — |
| LLY QualifiedEli Lilly and Company | 5/5 short3/3 longAll-weather | +10.2% | +12.1% | +40.0% | +19.4% | +59.7% | +124% | +451% | +1,807% | 32.8% | 1.21 | −34.5% | — | $1.2T | — |
| ABBV QualifiedAbbVie Inc. | 5/5 short3/3 longAll-weather | +9.9% | +14.8% | +43.8% | +29.8% | +28.3% | +118% | +218% | +603% | 23.4% | 1.11 | −45.1% | — | $511B | — |
| AMGN QualifiedAmgen Inc. | 5/5 short3/3 longAll-weather | +11.6% | +21.2% | +27.0% | +36.7% | +48.7% | +72.2% | +145% | +266% | 24.9% | 0.85 | −24.9% | — | $237B | — |
| VRTX QualifiedVertex Pharmaceuticals Incorporated | 4/5 short3/3 longAll-weather | +0.8% | +7.1% | +17.2% | +13.8% | +22.8% | +42.2% | +177% | +521% | 29.1% | 0.85 | −41.6% | — | $130B | — |
| TMO QualifiedThermo Fisher Scientific Inc. | 5/5 short2/3 long | +4.3% | +30.7% | +30.9% | +16.3% | +26.8% | +49.5% | +15.1% | +366% | 27.8% | 0.24 | −40.9% | — | $254B | — |
| GILD QualifiedGilead Sciences, Inc. | 5/5 short2/3 long | +4.0% | +18.2% | +16.6% | +31.0% | +30.3% | +121% | +180% | +200% | 24.9% | 0.95 | −30.5% | — | $194B | — |
| TAK QualifiedTakeda Pharmaceutical Company Limited | 5/5 short2/3 long | +8.6% | +20.3% | +16.9% | +33.6% | +48.2% | +56.1% | +75.1% | +30.4% | 19.4% | 0.68 | −54.4% | — | $64B | — |
| MRK QualifiedMerck & Co., Inc. | 4/5 short2/3 long | −0.8% | +19.9% | +28.3% | +42.2% | +76.8% | +58.3% | +113% | +241% | 24.8% | 0.74 | −43.4% | — | $366B | — |
| NVS QualifiedNovartis AG | 4/5 short2/3 long | +9.0% | +2.7% | +1.8% | +13.1% | +18.8% | +75.9% | +121% | +226% | 20.7% | 0.87 | −26.8% | — | $292B | — |
| JNJ QualifiedJohnson & Johnson | 4/5 short2/3 long | −3.8% | +4.8% | +13.6% | +27.1% | +36.9% | +84.6% | +82.1% | +196% | 17.9% | 0.76 | −27.4% | — | $625B | — |
| GSK QualifiedGSK plc | 3/5 short2/3 long | −0.9% | +2.1% | −10.1% | +4.7% | +18.9% | +60.0% | +57.2% | +95.1% | 24.5% | 0.49 | −37.6% | — | $102B | — |
| WAT Medical - Diagnostics & ResearchWaters Corporation | 5/5 short1/3 long | +4.5% | +23.9% | +31.9% | +15.9% | +29.0% | +74.6% | +24.4% | +182% | 33.9% | 0.30 | −44.3% | — | $43B | — |
| IQV Medical - Diagnostics & ResearchIQVIA Holdings Inc. | 4/5 short1/3 long | −0.8% | +31.4% | +51.5% | +18.8% | +26.3% | +45.3% | +6.5% | +260% | 34.7% | 0.21 | −51.5% | — | $44B | — |
| DHR Medical - Diagnostics & ResearchDanaher Corporation | 5/5 short0/3 long | +4.0% | +11.6% | +15.0% | −2.2% | +8.3% | +10.8% | −17.6% | +232% | 29.1% | 0.01 | −43.8% | — | $157B | — |
| ROG Hardware, Equipment & PartsRogers Corporation | 5/5 short0/3 long | +5.4% | +4.6% | +9.7% | +48.8% | +59.4% | +10.0% | −28.5% | +143% | 41.6% | 0.06 | −80.8% | — | $2.4B | — |
| REGN BiotechnologyRegeneron Pharmaceuticals, Inc. | 5/5 short0/3 long | +1.2% | +20.3% | +8.0% | +4.4% | +40.7% | +0.8% | +44.9% | +120% | 31.1% | 0.40 | −59.7% | — | $83B | — |
| PFE Drug Manufacturers - GeneralPfizer Inc. | 5/5 short0/3 long | +8.5% | +23.8% | +13.2% | +25.7% | +30.5% | +19.2% | −8.3% | +55.0% | 25.4% | 0.06 | −58.9% | — | $172B | — |
| BIIB Drug Manufacturers - GeneralBiogen Inc. | 5/5 short0/3 long | +11.0% | +21.6% | +32.6% | +36.7% | +65.8% | −5.6% | −8.8% | −18.9% | 34.7% | 0.11 | −72.7% | — | $36B | — |
| BMY Drug Manufacturers - GeneralBristol-Myers Squibb Company | 3/5 short0/3 long | −0.5% | +3.6% | +6.6% | +19.1% | +47.8% | +25.8% | +30.6% | +74.8% | 24.9% | 0.34 | −47.7% | — | $126B | — |
| NVO Drug Manufacturers - GeneralNovo Nordisk A/S | 1/5 short0/3 long | −1.1% | −20.0% | −1.5% | −23.9% | −28.5% | −57.0% | −18.5% | +134% | 39.1% | 0.09 | −75.2% | — | $174B | — |
| SNY Drug Manufacturers - GeneralSanofi | 1/5 short0/3 long | −2.6% | −5.9% | −10.3% | −10.7% | −13.4% | −10.0% | +3.0% | +61.5% | 25.3% | 0.15 | −33.5% | — | $99B | — |
How did AZN do year by year?
This table shows each investment's total return in every full calendar year since 1997, along with where AZN ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with AZN and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- AZN finished ahead of the S&P 500 in 12 of its 29 full calendar years.
- Among its popular alternatives, GILD came out ahead of AZN most often, in 19 of the 29 years both traded.
- Ranked against its popular alternatives each year, AZN finished in the top quarter in four of 29 years and in the bottom quarter in four. In 2025, it ranked 5 of 22.
Newest year first. Green marks a year in which the fund came out ahead of AZN; gray means the two finished within a fraction of a point. The rank row places AZN among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of AZN | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AZN This pageAstraZeneca PLC | — | +38.0% | −1.2% | +0.8% | +20.4% | +17.9% | +2.9% | +37.4% | +13.9% | +35.3% | −16.7% | +0.1% | +24.6% | +32.0% | +8.6% | +6.0% | +3.5% | +20.4% | +0.3% | −17.1% | +12.7% | +36.9% | −22.0% | +38.2% | −23.2% | −7.9% | +28.7% | −5.3% | +27.0% | +31.8% |
| Rank among alternatives | Top quarter in 4 of 29 | 5 of 22 | 10 of 22 | 12 of 22 | 8 of 22 | 13 of 22 | 13 of 22 | 3 of 22 | 7 of 22 | 7 of 22 | 18 of 22 | 15 of 22 | 9 of 22 | 12 of 21 | 17 of 20 | 12 of 20 | 12 of 20 | 9 of 20 | 4 of 19 | 16 of 19 | 12 of 19 | 4 of 19 | 16 of 19 | 6 of 19 | 11 of 18 | 6 of 18 | 14 of 18 | 11 of 18 | 11 of 18 | 13 of 18 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 16 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% |
| LLY Eli Lilly and Company | 18 of 29 | +40.3% | +33.3% | +60.9% | +34.3% | +66.1% | +31.0% | +16.2% | +40.5% | +17.8% | −10.4% | +25.4% | +39.8% | +7.3% | +24.2% | +25.2% | +3.6% | −6.2% | −21.3% | +5.7% | −5.2% | +2.6% | −17.6% | +13.1% | −17.6% | −14.4% | +41.9% | −24.3% | +29.1% | +93.6% |
| ABBV AbbVie Inc. | 8 of 13 | +33.1% | +18.9% | −0.2% | +24.0% | +32.4% | +27.7% | +1.5% | −1.0% | +60.1% | +9.8% | −6.5% | +27.9% | +60.7% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| AMGN Amgen Inc. | 13 of 29 | +29.7% | −6.8% | +13.5% | +20.4% | +0.9% | −2.0% | +27.6% | +15.2% | +22.3% | −7.6% | +4.0% | +42.3% | +34.8% | +36.8% | +18.2% | −3.0% | −2.0% | +24.3% | −32.0% | −13.4% | +22.9% | +3.8% | +27.8% | −14.4% | −11.7% | +6.5% | +130% | +93.3% | −0.4% |
| VRTX Vertex Pharmaceuticals Incorporated | 15 of 29 | +12.6% | −1.0% | +40.9% | +31.5% | −7.1% | +7.9% | +32.1% | +10.6% | +103% | −41.4% | +5.9% | +59.9% | +77.3% | +26.2% | −5.2% | −18.3% | +41.0% | +30.8% | −37.9% | +35.2% | +162% | +2.1% | −34.7% | −35.5% | −65.6% | +309% | +17.6% | −9.8% | −18.0% |
| TMO Thermo Fisher Scientific Inc. | 16 of 29 | +11.8% | −1.7% | −3.4% | −17.3% | +43.5% | +43.7% | +45.6% | +18.2% | +35.0% | −0.1% | +13.8% | +13.1% | +75.8% | +43.2% | −18.8% | +16.1% | +40.0% | −40.9% | +27.4% | +50.3% | −0.2% | +19.8% | +25.3% | −15.7% | +5.6% | +98.2% | −11.4% | −61.5% | +6.7% |
| GILD Gilead Sciences, Inc. | 19 of 29 | +36.6% | +18.7% | −2.0% | +23.6% | +29.9% | −6.7% | +7.9% | −9.9% | +3.0% | −27.6% | +8.6% | +25.5% | +105% | +79.5% | +12.9% | −16.3% | −15.4% | +11.2% | +41.7% | +23.4% | +50.2% | +20.1% | +71.4% | +3.6% | +58.2% | +53.9% | +31.7% | +6.7% | +53.6% |
| TAK Takeda Pharmaceutical Company Limited | 4 of 17 | +22.7% | −3.2% | −4.8% | +20.1% | −21.6% | −3.0% | +22.1% | −38.8% | +41.3% | −14.0% | +24.4% | −6.5% | +7.4% | +5.8% | −5.0% | +21.2% | −16.1% | — | — | — | — | — | — | — | — | — | — | — | — |
| MRK Merck & Co., Inc. | 12 of 29 | +9.8% | −6.3% | +1.0% | +49.4% | +1.8% | −7.2% | +22.3% | +40.0% | −1.5% | +15.0% | −3.9% | +16.9% | +26.9% | +13.1% | +9.6% | +2.9% | +26.7% | −45.3% | +37.3% | +42.8% | +4.0% | −27.7% | −11.2% | −1.2% | −36.0% | +41.8% | −7.7% | +41.6% | +35.7% |
| NVS Novartis AG | 11 of 29 | +46.0% | −0.5% | +21.1% | +6.6% | −5.0% | +2.2% | +29.1% | +6.2% | +19.8% | −11.8% | −4.3% | +19.4% | +32.2% | +16.1% | +1.5% | +12.6% | +14.6% | −5.4% | −3.4% | +11.3% | +6.0% | +12.3% | +27.5% | +2.1% | −17.2% | +30.6% | −24.1% | +21.9% | +52.9% |
| JNJ Johnson & Johnson | 14 of 29 | +47.5% | −4.8% | −8.6% | +6.0% | +11.4% | +10.8% | +16.2% | −5.1% | +24.4% | +15.3% | +1.2% | +17.3% | +34.6% | +10.8% | +9.9% | −0.6% | +11.3% | −7.7% | +3.6% | +12.4% | −3.4% | +25.2% | −2.0% | −7.9% | +14.0% | +14.2% | +12.5% | +29.0% | +34.3% |
| GSK GSK plc | 10 of 29 | +51.3% | −5.2% | +9.8% | −16.8% | +27.1% | −17.7% | +29.2% | +13.8% | −3.0% | +2.1% | −0.3% | −15.7% | +28.9% | +0.6% | +22.7% | −2.1% | +19.2% | −22.2% | −0.8% | +7.9% | +9.9% | +5.6% | +28.8% | −21.6% | −9.7% | +4.1% | −17.9% | +48.2% | +55.8% |
| WAT Waters Corporation | 16 of 29 | +2.4% | +12.7% | −3.9% | −8.1% | +50.6% | +5.9% | +23.9% | −2.4% | +43.8% | −0.1% | +19.4% | +12.7% | +14.8% | +17.6% | −4.7% | +25.4% | +69.1% | −53.6% | +61.5% | +29.5% | −19.2% | +41.1% | +52.3% | −43.8% | −53.6% | +215% | +21.5% | +129% | +25.6% |
| IQV IQVIA Holdings Inc. | 7 of 12 | +14.7% | −15.1% | +12.9% | −27.4% | +57.5% | +16.0% | +33.0% | +18.7% | +28.7% | +10.8% | +16.6% | +27.0% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| DHR Danaher Corporation | 18 of 29 | +0.4% | −0.4% | −1.2% | −19.0% | +48.6% | +45.4% | +49.5% | +11.8% | +20.0% | +73.2% | +9.3% | +11.6% | +38.3% | +19.1% | −0.1% | +25.7% | +33.0% | −35.4% | +21.3% | +30.1% | −2.7% | +25.3% | +39.7% | +9.1% | −11.7% | +41.5% | −11.0% | +72.4% | +35.2% |
| ROG Rogers Corporation | 14 of 29 | −9.9% | −23.1% | +10.7% | −56.3% | +75.8% | +24.5% | +25.9% | −38.8% | +111% | +48.9% | −36.7% | +32.4% | +23.8% | +34.7% | −3.6% | +26.2% | +9.2% | −36.0% | −26.7% | +51.0% | −9.1% | −2.3% | +98.3% | −26.6% | −26.2% | +115% | +28.1% | −26.9% | +50.7% |
| REGN Regeneron Pharmaceuticals, Inc. | 15 of 29 | +9.0% | −18.9% | +21.7% | +14.2% | +30.7% | +28.7% | +0.5% | −0.7% | +2.4% | −32.4% | +32.3% | +49.0% | +60.9% | +209% | +68.8% | +35.8% | +31.7% | −24.0% | +20.3% | +26.2% | +72.7% | −37.4% | −20.6% | −34.3% | −20.2% | +177% | +72.8% | −13.8% | −46.9% |
| PFE Pfizer Inc. | 13 of 29 | +0.6% | −2.2% | −41.3% | −10.4% | +66.7% | +3.4% | −6.7% | +25.1% | +16.1% | +4.4% | +7.3% | +5.4% | +26.5% | +20.6% | +28.8% | +0.6% | +8.1% | −16.9% | −8.2% | +15.3% | −10.6% | −22.3% | +17.7% | −22.2% | −12.5% | +43.0% | −21.5% | +68.8% | +82.0% |
| BIIB Biogen Inc. | 12 of 29 | +15.1% | −40.9% | −6.6% | +15.4% | −2.0% | −17.5% | −1.4% | −5.5% | +12.3% | −7.4% | −9.8% | +21.4% | +91.0% | +33.0% | +64.1% | +25.3% | +12.3% | −16.3% | +15.7% | +8.6% | −32.0% | +81.5% | +10.6% | −51.9% | +9.1% | +93.0% | +318% | +36.6% | +44.7% |
| BMY Bristol-Myers Squibb Company | 12 of 29 | +0.1% | +15.8% | −26.1% | +19.0% | +2.9% | +0.4% | +27.7% | −12.9% | +7.7% | −13.5% | +19.3% | +14.2% | +70.0% | −3.8% | +39.4% | +8.8% | +14.8% | −6.1% | +4.8% | +19.9% | −6.2% | −7.2% | +29.1% | −52.4% | −26.2% | +17.1% | −2.8% | +42.9% | +77.1% |
| NVO Novo Nordisk A/S | 17 of 29 | −39.2% | −15.9% | +54.8% | +22.6% | +63.5% | +23.3% | +28.7% | −11.8% | +54.3% | −36.6% | +39.3% | +16.7% | +15.3% | +44.0% | +4.1% | +79.3% | +27.2% | −19.8% | +57.4% | +51.3% | +5.6% | +34.6% | +43.5% | −27.0% | +14.4% | +39.0% | −1.9% | −7.3% | +54.9% |
| SNY Sanofi | 8 of 23 | +4.9% | +1.1% | +6.5% | +0.5% | +7.0% | +0.4% | +20.5% | +6.0% | +9.9% | −1.2% | −3.4% | −11.9% | +17.1% | +36.0% | +18.8% | −13.4% | +28.7% | −26.5% | +1.0% | +7.2% | +11.6% | +8.2% | +26.2% | — | — | — | — | — | — |
Risk and diversification
How AZN 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 AZN's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents AZN's five deepest drawdowns since it began trading in 1993, 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 AZN's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: AZN fell 34.2% from October 1999 to February 2000, while the S&P 500 rose 4.6%.
- The slowest recovery came after AZN fell 48.9% from October 2006 to March 2009; it did not regain that peak until January 2013, four years later.
Green means AZN fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | AZN fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2008 financial crisis | −48.9% | −47.9% | Oct 2006 | Mar 2009 | 2.4 years | Jan 2013 | 3.8 years |
| Dot-com bust | −43.5% | −18.8% | Mar 2002 | Aug 2002 | 5 months | Sep 2005 | 3.1 years |
| No named crash | −34.2% | +4.6% | Oct 1999 | Feb 2000 | 4 months | Jul 2000 | 5 months |
| No named crash | −33.7% | −12.9% | Apr 1998 | Oct 1998 | 6 months | Oct 1999 | 12 months |
| 2015 China and oil sell-off | −32.6% | +25.5% | May 2014 | Dec 2016 | 2.6 years | Jan 2018 | 13 months |
How did AZN do in stock market crashes?
This section measures how far AZN, 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, JNJ held up best, falling less than AZN in six of the ten crashes they both traded through.
- AZN fell less than the S&P 500 in six of the ten crashes it has traded through. The clearest case was the 2008 financial crisis, when AZN fell 37.4% and the S&P 500 fell 55.2%.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than AZN.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AZN This pageAstraZeneca PLC | — | −0.5% | −25.7% | −22.6% | −11.4% | −6.4% | −18.0% | −16.4% | −1.1% | −37.4% | −43.5% |
| SPY S&P 500State Street SPDR S&P 500 ETF | 2 of 10 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| LLY Eli Lilly and Company | 5 of 10 | −0.6% | −11.7% | −16.9% | −10.2% | −8.6% | −19.6% | −10.9% | 0.0% | −50.0% | −54.3% |
| ABBV AbbVie Inc. | 2 of 6 | −1.5% | −21.9% | −32.1% | −18.1% | −5.8% | −29.8% | — | — | — | — |
| AMGN Amgen Inc. | 5 of 10 | −1.2% | −11.9% | −18.3% | −14.3% | −7.4% | −22.1% | −12.6% | −0.5% | −31.3% | −60.2% |
| VRTX Vertex Pharmaceuticals Incorporated | 2 of 10 | 0.0% | −19.2% | −19.4% | −21.2% | −8.8% | −43.7% | −23.9% | −2.7% | −59.9% | −86.7% |
| TMO Thermo Fisher Scientific Inc. | 3 of 10 | −2.4% | −19.8% | −24.8% | −17.2% | −8.7% | −14.7% | −24.4% | −3.6% | −53.9% | −41.8% |
| GILD Gilead Sciences, Inc. | 4 of 10 | −1.6% | −20.0% | −13.7% | −22.7% | −5.5% | −28.7% | −18.2% | −2.1% | −34.3% | −53.6% |
| TAK Takeda Pharmaceutical Company Limited | 3 of 8 | −0.6% | −14.8% | −31.5% | −27.9% | −6.5% | −17.0% | −5.6% | −3.7% | — | — |
| MRK Merck & Co., Inc. | 3 of 10 | −2.4% | −10.8% | −19.3% | −9.7% | −6.6% | −18.2% | −17.4% | −2.3% | −63.3% | −57.5% |
| NVS Novartis AG | 4 of 10 | −1.1% | −20.4% | −25.5% | −9.9% | −6.6% | −30.1% | −14.5% | −2.6% | −41.7% | −25.7% |
| JNJ Johnson & Johnson | 6 of 10 | −1.1% | −12.7% | −25.4% | −16.9% | −8.2% | −9.0% | −9.8% | −0.1% | −34.4% | −35.9% |
| GSK GSK plc | 3 of 10 | −0.3% | −37.6% | −26.5% | −11.5% | −4.3% | −15.7% | −12.4% | −2.0% | −46.6% | −45.1% |
| WAT Waters Corporation | 1 of 10 | −1.6% | −26.3% | −25.3% | −14.7% | −9.7% | −16.6% | −26.4% | −3.4% | −60.7% | −80.1% |
| IQV IQVIA Holdings Inc. | 1 of 6 | −6.8% | −35.9% | −48.9% | −19.2% | −5.3% | −28.7% | — | — | — | — |
| DHR Danaher Corporation | 4 of 10 | −3.2% | −22.8% | −25.9% | −13.4% | −9.8% | −14.0% | −21.8% | −0.6% | −45.7% | −33.7% |
| ROG Rogers Corporation | 1 of 10 | −6.8% | −15.6% | −37.4% | −40.8% | −9.8% | −27.9% | −28.6% | −5.5% | −70.1% | −53.5% |
| REGN Regeneron Pharmaceuticals, Inc. | 1 of 10 | −0.2% | −25.8% | −12.7% | −17.3% | −7.3% | −37.7% | −23.2% | −7.2% | −49.9% | −71.6% |
| PFE Pfizer Inc. | 2 of 10 | −1.8% | −24.6% | −21.8% | −12.3% | −8.1% | −18.2% | −16.1% | −1.8% | −49.8% | −46.0% |
| BIIB Biogen Inc. | 2 of 10 | −2.5% | −22.4% | −21.2% | −21.7% | −9.3% | −24.6% | −19.4% | −0.6% | −52.7% | −59.8% |
| BMY Bristol-Myers Squibb Company | 5 of 10 | −2.3% | −16.0% | −29.4% | −22.9% | −4.1% | −16.3% | −10.5% | 0.0% | −39.2% | −69.5% |
| NVO Novo Nordisk A/S | 2 of 10 | −1.1% | −21.4% | −23.7% | −13.8% | −3.9% | −20.8% | −23.1% | −1.7% | −40.9% | −51.0% |
| SNY Sanofi | 1 of 9 | −0.5% | −33.5% | −25.2% | −9.0% | −9.8% | −30.2% | −20.7% | −2.8% | −46.6% | — |
How closely does AZN 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 AZN with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- Over the past 10 years, AZN captured 60% of the S&P 500's gains in rising months and 39% of its losses in falling months, with a beta of 0.39. That is a defensive profile: it gave up some of the market's upside in exchange for smaller losses.
- Only LLY, VRTX and ABBV had a higher capture ratio (upside capture divided by downside capture) than AZN's 1.52, out of 21 popular alternatives with the same record.
- LLY took just 6% of the S&P 500's losses, against 39% for AZN, while still keeping 101% of its gains.
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 AZN's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| AZN This pageAstraZeneca PLC | 60% | 39% | 1.52 | 0.39 |
| LLY Eli Lilly and Company | 101% | 6% | 15.73 | 0.37 |
| VRTX Vertex Pharmaceuticals Incorporated | 87% | 50% | 1.75 | 0.46 |
| ABBV AbbVie Inc. | 92% | 57% | 1.62 | 0.54 |
| GILD Gilead Sciences, Inc. | 52% | 36% | 1.44 | 0.35 |
| MRK Merck & Co., Inc. | 64% | 46% | 1.39 | 0.30 |
| JNJ Johnson & Johnson | 64% | 53% | 1.20 | 0.46 |
| AMGN Amgen Inc. | 74% | 64% | 1.16 | 0.54 |
| NVS Novartis AG | 69% | 64% | 1.08 | 0.49 |
| DHR Danaher Corporation | 84% | 84% | 1.01 | 0.75 |
| TMO Thermo Fisher Scientific Inc. | 104% | 104% | 1.00 | 0.81 |
| REGN Regeneron Pharmaceuticals, Inc. | 55% | 66% | 0.84 | 0.19 |
| GSK GSK plc | 51% | 61% | 0.82 | 0.52 |
| NVO Novo Nordisk A/S | 75% | 94% | 0.80 | 0.60 |
| ROG Rogers Corporation | 90% | 114% | 0.79 | 1.10 |
| WAT Waters Corporation | 107% | 139% | 0.77 | 1.01 |
| IQV IQVIA Holdings Inc. | 128% | 167% | 0.77 | 1.31 |
| BMY Bristol-Myers Squibb Company | 55% | 75% | 0.73 | 0.41 |
| SNY Sanofi | 53% | 74% | 0.72 | 0.46 |
| PFE Pfizer Inc. | 52% | 81% | 0.65 | 0.54 |
| TAK Takeda Pharmaceutical Company Limited | 34% | 58% | 0.58 | 0.44 |
| BIIB Biogen Inc. | 35% | 91% | 0.38 | 0.28 |
What diversifies AZN?
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 AZN's. Because such investments tend not to fall at the same time, pairing AZN with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in AZN into DXJ would have cut the portfolio's volatility by 16% over the past 5 years and raised its annual return (+7.8% for AZN alone, +11.9% for the mix).
- FIX made money in five of the seven calendar years in which AZN lost money.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of AZN over the past 5 years, with correlations of 0.47 or lower, and each still earned a positive 5-year return.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which AZN lost money. The last two columns show a portfolio that is 80% AZN and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2024 | 2016 | 2007 | 2004 | 2002 | 2001 | 1999 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AZN AstraZeneca PLC (this page) | 1.00 | +52.1% | 0.41 | −1.2% | −16.7% | −17.1% | −22.0% | −23.2% | −7.9% | −5.3% | 23.2% | +7.8% |
| LVHI InternationalFranklin International Low Volatility High Dividend Index ETF | 0.47 | +119% | 1.48 | +15.9% | — | — | — | — | — | — | 19.5% | +10.0% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.30 | +225% | 1.34 | +29.8% | +1.1% | −7.4% | — | — | — | — | 19.5% | +11.9% |
| EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund | 0.39 | +101% | 1.04 | +33.4% | +29.8% | — | — | — | — | — | 19.9% | +9.8% |
| HDV Dividend & IncomeiShares Core High Dividend ETF | 0.47 | +83.3% | 1.00 | +14.1% | +15.9% | — | — | — | — | — | 20.1% | +9.0% |
| SMH TechnologyVanEck Semiconductor ETF | 0.10 | +323% | 0.97 | +39.1% | +35.6% | +6.0% | −19.3% | −47.0% | −14.6% | — | 20.5% | +14.6% |
| DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF | 0.43 | +85.0% | 0.96 | +13.4% | +6.3% | — | — | — | — | — | 19.6% | +9.4% |
| GLD CommoditiesSPDR Gold Shares | 0.23 | +126% | 0.96 | +26.7% | +8.0% | +30.4% | — | — | — | — | 19.7% | +10.4% |
| SPMO Broad MarketInvesco S&P 500 Momentum ETF | 0.17 | +136% | 0.93 | +45.8% | +7.4% | — | — | — | — | — | 19.7% | +11.2% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2024 | 2016 | 2007 | 2004 | 2002 | 2001 | 1999 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AZN AstraZeneca PLC (this page) | 1.00 | +52.1% | 0.41 | −1.2% | −16.7% | −17.1% | −22.0% | −23.2% | −7.9% | −5.3% | 23.2% | +7.8% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.27 | +479% | 1.55 | +19.0% | −17.5% | −9.8% | −4.7% | −8.3% | −2.5% | −36.8% | 20.6% | +14.1% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.00 | +3,143% | 1.47 | +215% | +7.4% | −25.7% | −6.4% | −65.1% | −25.6% | +350% | 21.9% | +27.0% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.09 | +1,636% | 1.46 | +107% | +18.3% | +2.1% | +40.0% | −9.4% | +73.7% | −58.7% | 21.3% | +22.9% |
| MCK Medical - DistributionMcKesson Corporation | 0.16 | +413% | 1.44 | +23.7% | −28.3% | +29.7% | −1.4% | −27.2% | +4.9% | −71.3% | 20.0% | +13.6% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.08 | +690% | 1.41 | −4.0% | +0.7% | — | — | — | — | — | 20.2% | +16.3% |
Common questions
What was AZN's worst drawdown?
AZN's deepest decline since it began trading in 1993 was 48.9%, from October 2006 to March 2009. It took about four years from the low to climb back to its old high.
What were AZN's best and worst years?
Over 29 full calendar years, AZN's best year was 2003, when it returned 38.2%. Its worst was 2002, with a return of -23.2%.
Is there a better investment than AZN?
Among AZN's popular alternatives, LLY, ABBV and JNJ earned more than AZN with less volatility over the past 5 years. LLY returned 40.7% a year at 32.8% volatility, against 8.7% a year at 35.7%. Looking beyond its popular alternatives, CAH (health care distribution) and MCK (health care distribution) earned more than AZN with less volatility over the past 5 years. CAH returned 42.1% a year at 24.7% volatility, against 8.7% a year at 35.7%.
Is AZN more volatile than the S&P 500?
Yes. AZN's volatility over the past 5 years was 35.7%, about twice the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, AZN's return lands within 35.7% 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 AZN's Sharpe ratio?
AZN's Sharpe ratio over the past 5 years was 0.41, against 0.79 for the S&P 500, so AZN 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 AZN with the S&P 500?
Over the past 5 years, AZN's monthly returns had a correlation of 0.22 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 AZN instead: the lower it is, the more that option would diversify a AZN holding.
What are the best alternatives to AZN?
Of the 21 popular alternatives we compared, 11 outperformed AZN in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: LLY, ABBV and AMGN.
Did AZN outperform the S&P 500?
AZN finished ahead of the S&P 500 (SPY) in 12 of 29 full calendar years. In 2025, it returned +38.0%, against +17.7% for the index.
How did AZN do in stock market crashes?
AZN fell less than the S&P 500 (SPY) in six of the ten major crashes it has traded through, and further in two. The clearest case was the 2008 financial crisis, when AZN fell 37.4% and the S&P 500 fell 55.2%.
What diversifies AZN?
These had a low correlation with AZN over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.47), DXJ (correlation 0.30) and EMLP (correlation 0.39); among large stocks, CAH (correlation 0.27), CLS (correlation -0.00) and FIX (correlation 0.09). 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 AZN's. Returns within 0.5 points or 3% of AZN'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.
AMGN
VRTX
TMO
TAK
MRK
WAT