# How Brookfield Asset Management (BAM) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/bam
> 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 BAM alone. It places BAM (Brookfield Asset Management Ltd.) 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 BAM stands in the market, and of the alternatives worth a closer look.

Period covered: BAM's full trading record, from December 2022 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** The slide is BAM's own: it is 23.9% below its high, against 1.3% for the S&P 500. Over the past 6 months, BAM fell 4.5% while the S&P 500 rose 9.1%.
- **Stock or market?:** BAM fell 2.1% over the past 3 months, 3.8 points ahead of the alternative asset management ETF IAI (iShares U.S. Broker-Dealers & Securities Exchanges ETF), which fell 5.9%. The S&P 500 rose 3.9%. Its alternative asset management peers did not move as one over the past 3 months: BLK (BlackRock) rose 7.6%, while BX (Blackstone) fell 9.8%.
- **Past 1 to 3 years:** BAM has gone against the market, falling 12.5% over the past year while the S&P 500 rose 15.8%. The same gap shows up over 3 years (67.9% against 89.3%).
- **Long term:** BAM turned $10,000 into $16,800 over the past 3 years, against $18,900 in the S&P 500.
- **Diversification:** Over 3 years, BAM's beta versus the S&P 500 was 1.44: in the S&P 500's rising months it gained 1.2 times as much as the index, and in falling months it lost 2.4 times as much. Against the S&P 500, BAM has a correlation of 0.57 over 3 years, more closely than 92% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge.
- **Better options**
  - **Nearby categories and themes:** RY (Royal Bank of Canada, banks) and CM (Canadian Imperial Bank of Commerce, banks) earned more than BAM with less volatility over the past 3 years. RY returned 39.7% a year at 16.9% volatility, against 18.9% a year at 30.1%.
  - **Whole market:** 661 of the 3,928 stocks and funds worth at least $500 million earned more than BAM with less volatility over the past 3 years, among them AAPL (Apple), VTI (Vanguard Morningstar Total Stock Market ETF) and VOO (Vanguard S&P 500 ETF).

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

This chart tracks a hypothetical $10,000 investment in BAM over the past 3 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of BAM over the same span and BAM's popular alternatives, among those that traded for the entire period.

- $10,000 invested in BAM at the end of September 2023 would have grown to $14,865 by September 2026, less than the $18,498 it would have become in SPY, an S&P 500 fund.
- Six of the eight other investments on the chart ended ahead of BAM, and VCTR finished highest, at $36,180.

## BAM 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.

- BAM is still 23.9% below its all-time high.
- BAM's deepest decline since it began trading in 2022 was 30.4%, from July 2025 to March 2026. It has not yet climbed back to that peak.
- Over three full calendar years, BAM's best was 2023, when it returned 45.6%, and its worst was 2025, when it lost 0.3%. It lost money in one of those years.

- Type: Stock, Financials (Asset Management)
- Trading since: December 1, 2022
- Market value: $73B
- Volatility (3 years): 30.1%; Sharpe ratio: 0.73
- Worst decline ever: −30.4%, from July 24, 2025 to March 24, 2026; not yet back at its high

| Period | BAM total return |
| --- | --- |
| 1 month | −0.6% |
| 3 months | −2.1% |
| 6 months | −4.5% |
| year to date | −11.4% |
| 1 year | −12.5% |
| 3 years | +67.9% |

## BAM against the whole market

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

### How does BAM rank among all stocks?

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

- BAM lands in the broad middle of the market on every measure here. BAM is among the steadier stocks: its price swings rank in the top 28% of the 3,017 stocks worth at least $300 million, where the top is the calmest.

| Measure | BAM | Rank |
| --- | --- | --- |
| 1-year return | −12.5% | 2,419 of 3,287 (top 74%) |
| 3-year return | +67.9% | 1,293 of 3,017 (top 43%) |
| Volatility, 3 years | 30.1% | 838 of 3,017 (top 28%) |
| Sharpe ratio, 3 years | 0.73 | 1,219 of 3,017 (top 41%) |

### What has beaten BAM on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 3 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- 203 stocks and 458 ETFs worth at least $500 million sit in the green region: each earned more than BAM over the past 3 years with smaller price swings. That is 17% of the 3,928 screened.
- Among those with at least half BAM's swings, CM has the best return for its risk: 53.4% a year at 19.8% volatility, 34% less than BAM's 30.1%, and a Sharpe ratio (return above cash per unit of volatility) of 2.27 against 0.73 for BAM. BAP earned the most, 55.3% a year, while still swinging less than BAM (28.1% against 30.1%).
- Among BAM's popular alternatives, BLK and BIP are in the region. BLK earned 25.2% a year against 18.9% a year for BAM, at 24.8% volatility, 18% less than BAM's 30.1%.

### Is there a better investment than BAM?

The table below lists investments that beat BAM over the past 3 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 BAM's popular alternatives, BLK and BIP earned more than BAM with less volatility over the past 3 years. BLK returned 25.2% a year at 24.8% volatility, against 18.9% a year at 30.1%.
- Looking beyond its popular alternatives, RY (banks) and CM (banks) earned more than BAM with less volatility over the past 3 years. RY returned 39.7% a year at 16.9% volatility, against 18.9% a year at 30.1%.
- Across the whole market, 661 of the 3,928 stocks and funds worth at least $500 million earned more than BAM with less volatility over the past 3 years, among them AAPL, VTI and VOO.

The 15 strongest of 661 investments that beat BAM over the past 3 years, out of 3,928 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (3 years) | Volatility | Sharpe | Worst decline (10 years) | 3Y return | Correlation with BAM | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| BAM: Brookfield Asset Management Ltd. (this page) |  | +18.9% | 30.1% | 0.73 | −30.4% | +67.9% |  |  |
| [DFAC](https://easycompare.io/research/dfac): Dimensional - US Core Equity 2 ETF | US Total Market | +22.2% | 15.0% | 1.42 | −23.1% | +82.3% | 0.61 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [CGDV](https://easycompare.io/research/cgdv): Capital Group Dividend Value ETF | US Dividend Equity | +25.4% | 13.7% | 1.73 | −21.8% | +97.2% | 0.56 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| CLSE: Convergence Long/Short Equity ETF | Broad Market | +29.1% | 13.8% | 1.93 | −16.4% | +115% | 0.30 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [JEPQ](https://easycompare.io/research/jepq): JPMorgan Nasdaq Equity Premium Income ETF | Equity Income | +21.1% | 15.6% | 1.31 | −20.1% | +77.8% | 0.37 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| AVLV: Avantis U.S. Large Cap Value ETF | US Large-Cap Value | +23.7% | 14.8% | 1.52 | −19.5% | +89.4% | 0.55 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| VFLO: VictoryShares Free Cash Flow ETF | US Large-Cap Value | +30.8% | 16.4% | 1.73 | −17.8% | +124% | 0.54 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| DUHP: U.S. High Relative Profitability Portfolio ETF Class Shares | US Large-Cap Equity | +20.0% | 13.9% | 1.39 | −20.1% | +72.7% | 0.54 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| DFIC: Dimensional - International Core Equity 2 ETF | Developed International Equity | +22.2% | 14.3% | 1.49 | −24.4% | +82.4% | 0.42 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| DFUV: Dimensional - US Marketwide Value ETF | US Value Equity | +21.7% | 14.3% | 1.46 | −17.6% | +80.3% | 0.53 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| CGUS: Capital Group Core Equity ETF | US Large-Cap Equity | +23.0% | 14.6% | 1.50 | −21.9% | +86.0% | 0.59 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| DTM: DT Midstream, Inc. | Oil & Gas Midstream | +35.1% | 24.1% | 1.38 | −23.6% | +147% | 0.15 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| BLCR: iShares Large Cap Core Active ETF | Broad Market | +35.8% | 22.2% | 1.50 | −21.3% | +150% |  | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| JIVE: JPMorgan International Value ETF | International | +29.0% | 14.9% | 1.80 | −13.8% | +115% | 0.31 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| JAVA: JPMorgan Active Value ETF | US Large-Cap Value | +20.0% | 12.9% | 1.48 | −16.5% | +72.6% | 0.56 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| GPIX: Goldman Sachs S&P 500 Premium Income ETF | Dividend & Income | +22.0% | 13.5% | 1.56 | −17.5% | +81.5% |  | Higher return, lower volatility; Higher Sharpe, smaller worst decline |

## BAM against its popular alternatives

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

### How do BAM's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 3 years against its volatility, the size of its typical price swings.

- Four of the 22 popular alternatives, led by AMG, BLK and BN, were both more rewarding and calmer than BAM over the past 3 years, earning a higher annual return with lower volatility.
- Over the past 3 years, BAM returned 18.9% a year, less than the S&P 500's 23.7%, with higher volatility (30.1% against 15.2%).

### Has BAM consistently beaten its popular alternatives?

This section compares BAM with the investments people most often weigh against it, checking each one over six periods from one month to three years.

- Five of the 22 popular alternatives, led by VCTR, AMG and BLK, outperformed BAM in at least 3 of 5 short-term and 1 of 1 long-term timeframes.
- VCTR, AMG and BLK outperformed BAM in every long-term period and in all but one short-term period, the most consistent record in the group.
- BN outperformed BAM over all one long-term periods but in none of the five short-term ones, so BAM has had the better of it lately.

| Investment | 1Y return | 3Y return | Periods ahead of BAM | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- |
| BAM: Brookfield Asset Management Ltd. (this page) | −12.5% | +67.9% |  |  | 0.73 |
| VCTR: Victory Capital Holdings, Inc. | +69.8% | +305% | 5/5 short-term, 1/1 long-term | all-weather | 1.56 |
| AMG: Affiliated Managers Group, Inc. | +59.9% | +214% | 5/5 short-term, 1/1 long-term | all-weather | 1.48 |
| [BLK](https://easycompare.io/research/blk): BlackRock, Inc. | −0.6% | +96.3% | 5/5 short-term, 1/1 long-term | all-weather | 1.03 |
| BIP: Brookfield Infrastructure Partners L.P. | +9.3% | +82.5% | 4/5 short-term, 1/1 long-term | all-weather | 0.86 |
| IVZ: Invesco Ltd. | +30.0% | +158% | 3/5 short-term, 1/1 long-term | consistent | 1.08 |
| TPG: TPG Inc. | −16.9% | +84.5% | 2/5 short-term, 1/1 long-term |  | 0.73 |
| [BN](https://easycompare.io/research/bn): Brookfield Corporation | −16.8% | +85.9% | 0/5 short-term, 1/1 long-term |  | 0.85 |
| ARCC: Ares Capital Corporation | +4.4% | +30.5% | 4/5 short-term, 0/1 long-term |  | 0.59 |
| BXSL: Blackstone Secured Lending Fund | +3.1% | +23.1% | 4/5 short-term, 0/1 long-term |  | 0.46 |
| BEN: Franklin Resources, Inc. | +44.8% | +62.4% | 3/5 short-term, 0/1 long-term |  | 0.69 |
| TROW: T. Rowe Price Group, Inc. | +3.1% | +22.7% | 3/5 short-term, 0/1 long-term |  | 0.39 |
| AB: AllianceBernstein Holding L.P. | −3.7% | +56.6% | 2/5 short-term, 0/1 long-term |  | 0.74 |
| BEP: Brookfield Renewable Partners L.P. | +2.2% | +55.2% | 2/5 short-term, 0/1 long-term |  | 0.61 |
| PAX: Patria Investments Ltd | −14.2% | +6.9% | 2/5 short-term, 0/1 long-term |  | 0.22 |
| OWL: Blue Owl Capital Inc. | −40.5% | −13.5% | 2/5 short-term, 0/1 long-term |  | 0.09 |
| STEP: StepStone Group Inc. | −26.9% | +66.0% | 1/5 short-term, 0/1 long-term |  | 0.61 |
| [APO](https://easycompare.io/research/apo): Apollo Global Management, Inc. | −9.7% | +41.4% | 1/5 short-term, 0/1 long-term |  | 0.50 |
| [ARES](https://easycompare.io/research/ares): Ares Management Corporation | −17.4% | +24.9% | 1/5 short-term, 0/1 long-term |  | 0.39 |
| HLNE: Hamilton Lane Incorporated | −28.5% | +10.6% | 1/5 short-term, 0/1 long-term |  | 0.28 |
| [KKR](https://easycompare.io/research/kkr): KKR & Co. Inc. | −25.2% | +65.7% | 0/5 short-term, 0/1 long-term |  | 0.63 |
| CG: The Carlyle Group Inc. | −34.2% | +47.2% | 0/5 short-term, 0/1 long-term |  | 0.53 |
| [BX](https://easycompare.io/research/bx): Blackstone Inc. | −28.4% | +28.6% | 0/5 short-term, 0/1 long-term |  | 0.41 |

### How did BAM do year by year?

This table shows each investment's total return in every full calendar year since 2023, along with where BAM ranked among its popular alternatives each year.

- Among its popular alternatives, TPG came out ahead of BAM most often, in all three years both traded.
- BAM finished ahead of the S&P 500 in two of its three full calendar years.
- Ranked against its popular alternatives each year, BAM finished in the top quarter in no of three years and in the bottom quarter in no. In 2025, it ranked 14 of 23.

| Year | BAM | SPY |
| --- | --- | --- |
| 2025 | −0.3% | +17.7% |
| 2024 | +39.7% | +24.9% |
| 2023 | +45.6% | +26.2% |

## Risk and diversification

How BAM 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 BAM's worst declines?

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

- In all five of BAM's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: BAM fell 30.4% from July 2025 to March 2026, while the S&P 500 rose 3.8%.
- None of these declines kept BAM below its old high for long; the longest climb back took three months.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −30.4% | July 24, 2025 | March 24, 2026 | not yet | +3.8% |  |
| −29.5% | January 29, 2025 | April 8, 2025 | July 17, 2025 | −17.3% |  |
| −20.4% | September 15, 2023 | October 31, 2023 | December 1, 2023 | −5.7% |  |
| −17.9% | December 7, 2022 | December 16, 2022 | February 2, 2023 | −2.1% |  |
| −13.1% | February 15, 2023 | May 24, 2023 | August 11, 2023 | −0.3% | 2023 regional bank crisis |

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

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

- BAM began trading after the 2008 financial crisis, but 11 of its popular alternatives lived through it. The mildest fall among them was BEP's 36.7%, against 55.2% for the S&P 500.

| Crash | Dates | BAM fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | not trading | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | not trading | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | not trading | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | not trading | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | not trading | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | not trading | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | not trading | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | not trading | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −7.1% | −3.4% |

### How closely does BAM 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.

- VCTR took just 74% of the S&P 500's losses, against 245% for BAM, while still keeping 172% of its gains.
- Over the past 3 years, BAM captured 118% of the S&P 500's gains in rising months and 245% of its losses in falling months, with a beta of 1.44. It amplified the market's moves in both directions.
- Ten of the 22 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than BAM's 0.48, led by VCTR, AMG and BXSL.

Measured over the past 3 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| BAM: Brookfield Asset Management Ltd. (this page) | 118% | 245% | 1.44 |
| VCTR: Victory Capital Holdings, Inc. | 172% | 74.0% | 1.09 |
| AMG: Affiliated Managers Group, Inc. | 144% | 82.0% | 0.77 |
| [BLK](https://easycompare.io/research/blk): BlackRock, Inc. | 133% | 230% | 1.36 |
| BIP: Brookfield Infrastructure Partners L.P. | 123% | 285% | 1.29 |
| IVZ: Invesco Ltd. | 207% | 351% | 1.68 |
| TPG: TPG Inc. | 181% | 406% | 1.72 |
| [BN](https://easycompare.io/research/bn): Brookfield Corporation | 139% | 244% | 1.62 |
| ARCC: Ares Capital Corporation | 56.0% | 91.0% | 0.55 |
| BXSL: Blackstone Secured Lending Fund | 28.0% | 19.0% | 0.27 |
| BEN: Franklin Resources, Inc. | 117% | 231% | 1.75 |
| TROW: T. Rowe Price Group, Inc. | 96.0% | 274% | 1.50 |
| AB: AllianceBernstein Holding L.P. | 70.0% | 83.0% | 0.42 |
| BEP: Brookfield Renewable Partners L.P. | 93.0% | 151% | 1.14 |
| PAX: Patria Investments Ltd | 49.0% | 248% | 1.07 |
| OWL: Blue Owl Capital Inc. | 104% | 425% | 1.38 |
| STEP: StepStone Group Inc. | 182% | 444% | 1.31 |
| [APO](https://easycompare.io/research/apo): Apollo Global Management, Inc. | 124% | 299% | 1.43 |
| [ARES](https://easycompare.io/research/ares): Ares Management Corporation | 124% | 334% | 1.26 |
| HLNE: Hamilton Lane Incorporated | 113% | 374% | 0.81 |
| [KKR](https://easycompare.io/research/kkr): KKR & Co. Inc. | 170% | 404% | 2.05 |
| CG: The Carlyle Group Inc. | 144% | 341% | 1.59 |
| [BX](https://easycompare.io/research/bx): Blackstone Inc. | 131% | 382% | 1.64 |

### What diversifies BAM?

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 BAM into LVHI would have cut the portfolio's volatility by 18% over the past 3 years and raised its annual return (+14.1% for BAM alone, +16.5% for the mix).
- Among large ETFs, LVHI, CLSE and VLUE have moved largely independently of BAM over the past 3 years, with correlations of 0.36 or lower, and each still earned a positive 3-year return.
- In 2025, the one year BAM lost money (-0.3%), CIB returned +122%.

| Investment | Correlation with BAM | 3Y return | Volatility | Sharpe | Rose in BAM's 1 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.28 | +92.3% | 10.6% | 2.12 | 1 of 1 |
| CLSE: Convergence Long/Short Equity ETF | 0.30 | +115% | 13.8% | 1.93 | 1 of 1 |
| VLUE: iShares MSCI USA Value Factor ETF | 0.36 | +136% | 17.8% | 1.71 | 1 of 1 |
| AVDV: Avantis International Small Cap Value ETF | 0.34 | +118% | 16.2% | 1.70 | 1 of 1 |
| EUFN: iShares MSCI Europe Financials ETF | 0.47 | +141% | 19.0% | 1.65 | 1 of 1 |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | 0.48 | +77.9% | 12.2% | 1.65 | 1 of 1 |
| BKGI: BNY Mellon Global Infrastructure Income ETF | 0.31 | +83.3% | 13.2% | 1.60 | 1 of 1 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.29 | +80.4% | 12.9% | 1.60 | 1 of 1 |

## Common questions

### What was BAM's worst drawdown?

BAM's deepest decline since it began trading in 2022 was 30.4%, from July 2025 to March 2026. It has not yet climbed back to that peak. Because BAM launched in December 2022, that record does not include the dot-com bust, the 2008 financial crisis or seven other sell-offs.

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

Over three full calendar years, BAM's best year was 2023, when it returned 45.6%. Its worst was 2025, with a return of -0.3%.

### Is there a better investment than BAM?

Among BAM's popular alternatives, BLK and BIP earned more than BAM with less volatility over the past 3 years. BLK returned 25.2% a year at 24.8% volatility, against 18.9% a year at 30.1%. Looking beyond its popular alternatives, RY (banks) and CM (banks) earned more than BAM with less volatility over the past 3 years. RY returned 39.7% a year at 16.9% volatility, against 18.9% a year at 30.1%.

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

Yes. BAM's volatility over the past 3 years was 30.1%, about twice the S&P 500's 15.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BAM's return lands within 30.1% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is BAM's Sharpe ratio?

BAM's Sharpe ratio over the past 3 years was 0.73, against 1.48 for the S&P 500, so BAM 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 BAM with the S&P 500?

Over the past 3 years, BAM's monthly returns had a correlation of 0.57 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against BAM instead: the lower it is, the more that option would diversify a BAM holding.

### What are the best alternatives to BAM?

Of the 22 popular alternatives we compared, five outperformed BAM in at least 3 of 5 short-term and 1 of 1 long-term timeframes, with dividends reinvested: VCTR, AMG and BLK.

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

BAM finished ahead of the S&P 500 (SPY) in two of three full calendar years. In 2025, it returned -0.3%, against +17.7% for the index.

### What diversifies BAM?

These had a low correlation with BAM over the past 3 years and still earned a positive 3-year return: among large ETFs, LVHI (correlation 0.28), CLSE (correlation 0.30) and VLUE (correlation 0.36); among large stocks, RY (correlation 0.48), TIGO (correlation 0.11) and CIB (correlation 0.09). A correlation near zero means the two have moved largely independently.

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- [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/bam
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against BAM live: https://betterthanspy.com/?b=BAM&utm_source=easycompare&utm_medium=research