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Relative Intelligence · Banks

How Banco Bradesco (BBD) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on BBD alone. It places BBD (Banco Bradesco S.A.) 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 BBD stands in the market, and of the alternatives worth a closer look.

Period covered: BBD's full trading record, from November 2001 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.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against BBD →Chart BBD vs. 20 alternatives →
On this page12 sections

Key findings

How much would $10,000 in BBD have grown?

This chart tracks a hypothetical $10,000 investment in BBD over the past 24 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of BBD over the same span and BBD'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.

Choose a period

From the end of September 2002 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. 73 of the 1,370 stocks and funds worth at least $500 million that traded the whole period ended ahead of BBD; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M$10M2002200620102014201820222026$10,000$100,000$1M$10M20022008201420202026
  • MNST$19M+192,926% total · +37.1% a year
  • CIB$2M+19,238% total · +24.5% a year
  • TSM$2M+18,370% total · +24.3% a year
  • BAP$1M+11,517% total · +21.9% a year
  • BLX$1M+11,011% total · +21.7% a year
  • BBD$836,693+8,267% total · +20.3% a year
  • ITUB$760,624+7,506% total · +19.8% a year
  • EWZ$152,031+1,420% total · +12.0% a year
  • SPY (S&P 500)$144,215+1,342% total · +11.8% a year
  • SAN$116,215+1,062% total · +10.8% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,627 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of BBD; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000202120222023202420252026$0$20,000$40,000$60,000202120222023202420252026
  • SAN$45,493+355% total · +35.4% a year
  • BAP$44,181+342% total · +34.6% a year
  • BLX$42,192+322% total · +33.4% a year
  • CIB$41,844+318% total · +33.1% a year
  • ITUB$29,014+190% total · +23.7% a year
  • BCH$28,909+189% total · +23.7% a year
  • BSAC$22,123+121% total · +17.2% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • EWZ$17,118+71.2% total · +11.4% a year
  • BBD$14,557+45.6% total · +7.8% a year
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BBD 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.

The company

Market value
$43B
Industry
Banks - Regional
Price history from
November 2001

Returns

Past 1 year
+31.6%total return
Past 3 years
+90.7%+24.0% a year
Past 5 years
+69.3%+11.1% a year
Past 10 years
+35.5%+3.1% a year
Best calendar year
+445%2004
Worst calendar year
−55.3%2015
Losing years
9 of 24full calendar years

Risk

Volatility
39.3%typical yearly swing, 5 years
Sharpe ratio
0.47return per unit of risk, 5 years
Worst decline ever
−73.4%Nov 2010 to Jan 2016
From its all-time high
−14.5%below the peak

BBD against the whole market

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

How does BBD rank among all stocks?

This section ranks BBD 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 BBD stacks up against its peers, these rankings show where it stands in the market as a whole.

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.

MeasureBBDRankStanding
1-year return+31.6%925 of 3,287top 28%
3-year return+90.7%999 of 3,017top 33%
5-year return+69.3%908 of 2,893top 31%
10-year return+35.5%1,649 of 2,202bottom 26%
Volatility, 5 years39.3%1,415 of 2,893top 49%
Sharpe ratio, 5 years0.471,025 of 2,893top 35%
Worst decline, past 10 years−67.7%1,206 of 2,187bottom 46%

What has beaten BBD 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). BBD sits where the dashed lines cross. Anything in the green box above and to the left earned more than BBD 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.

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 BBD; faint dots are 87 more of the 589 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.

10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than BBDKO: +14.7% a year, volatility 16.8%CVX: +19.5% a year, volatility 25.2%CSCO: +16.8% a year, volatility 26.1%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%AMGN: +19.6% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%TTE: +18.0% a year, volatility 25.8%BHP: +16.6% a year, volatility 31.4%ADI: +19.5% a year, volatility 34.1%CB: +15.7% a year, volatility 20.4%DE: +14.4% a year, volatility 29.9%TRV: +22.4% a year, volatility 22.3%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%HLT: +21.0% a year, volatility 26.8%MNST: +17.2% a year, volatility 24.9%SMH: +33.4% a year, volatility 36.9%JCI: +17.4% a year, volatility 29.1%ROST: +18.1% a year, volatility 29.5%EMR: +12.7% a year, volatility 27.7%AME: +14.4% a year, volatility 22.1%GRMN: +14.8% a year, volatility 31.6%IX: +17.9% a year, volatility 25.4%NTAP: +20.9% a year, volatility 35.3%FMX: +14.0% a year, volatility 25.7%KOF: +22.3% a year, volatility 24.7%IHG: +21.4% a year, volatility 26.6%RS: +24.8% a year, volatility 28.1%CQP: +15.3% a year, volatility 32.9%RPRX: +13.3% a year, volatility 23.8%FFIV: +17.1% a year, volatility 30.8%SNX: +20.3% a year, volatility 30.4%SMFG: +33.7% a year, volatility 29.4%AIT: +28.5% a year, volatility 30.3%EXEL: +24.4% a year, volatility 35.8%EWY: +16.2% a year, volatility 34.0%TD: +15.8% a year, volatility 20.0%RNR: +20.1% a year, volatility 27.8%BNY: +22.7% a year, volatility 24.4%CM: +19.2% a year, volatility 21.6%HST: +13.8% a year, volatility 30.0%MUSA: +26.1% a year, volatility 31.2%CACI: +16.6% a year, volatility 29.9%VLUE: +15.9% a year, volatility 18.4%AIZ: +13.3% a year, volatility 25.3%MSGS: +18.4% a year, volatility 25.6%BMO: +13.6% a year, volatility 21.4%BNS: +12.9% a year, volatility 19.9%FCFS: +20.6% a year, volatility 30.5%AVT: +22.1% a year, volatility 30.7%ACA: +23.1% a year, volatility 34.0%THG: +14.4% a year, volatility 22.9%CBOE: +21.5% a year, volatility 25.1%NHC: +32.0% a year, volatility 28.5%FLTW: +21.8% a year, volatility 24.3%RSPT: +16.9% a year, volatility 25.1%MSM: +13.3% a year, volatility 25.1%PSMT: +18.6% a year, volatility 28.2%STT: +14.4% a year, volatility 29.9%HRB: +18.3% a year, volatility 34.9%MCY: +17.0% a year, volatility 34.3%FTGC: +12.9% a year, volatility 15.6%MSFT: +12.5% a year, volatility 28.2%FRDM: +17.3% a year, volatility 22.8%VCTR: +28.1% a year, volatility 35.0%SEIC: +12.7% a year, volatility 22.3%BPOP: +17.7% a year, volatility 29.7%DIVB: +13.9% a year, volatility 15.4%HACK: +12.6% a year, volatility 25.8%IFS: +20.8% a year, volatility 31.1%VIRT: +20.8% a year, volatility 33.8%CNXN: +15.8% a year, volatility 29.2%SRCE: +15.1% a year, volatility 27.0%IHE: +12.6% a year, volatility 16.8%DMLP: +21.1% a year, volatility 29.1%GRC: +15.1% a year, volatility 31.3%SFL: +17.0% a year, volatility 30.4%STBA: +13.9% a year, volatility 28.2%RBCAA: +14.8% a year, volatility 27.9%NWPX: +32.5% a year, volatility 36.2%AAPL: +18.5% a year, volatility 28.0%HBT: +18.9% a year, volatility 28.7%COMT: +13.1% a year, volatility 21.1%QCRH: +14.1% a year, volatility 29.0%BBD: +11.1% a year, volatility 39.3%SPY (S&P 500): +12.7% a year, volatility 17.1%ITUB: +26.3% a year, volatility 33.8%BAP: +30.8% a year, volatility 30.3%EWZ: +14.9% a year, volatility 27.7%SAN: +31.7% a year, volatility 33.9%CIB: +32.9% a year, volatility 32.9%BCH: +25.2% a year, volatility 28.2%RY: +17.3% a year, volatility 18.2%HSBC: +33.1% a year, volatility 25.9%MUFG: +33.2% a year, volatility 29.4%MFG: +33.6% a year, volatility 30.6%CME: +11.2% a year, volatility 20.8%FCNCA: +20.4% a year, volatility 41.4%CAH: +42.1% a year, volatility 24.7%LLY: +40.7% a year, volatility 32.8%XOM: +27.1% a year, volatility 26.5%JNJ: +12.7% a year, volatility 17.9%DXJ: +26.6% a year, volatility 19.1%TSM: +31.5% a year, volatility 38.5%GLD: +17.7% a year, volatility 18.9%SLF: +11.7% a year, volatility 19.4%MPC: +51.2% a year, volatility 33.4%BLX: +31.4% a year, volatility 25.9%BBDSPY (S&P 500)ITUBBAPEWZSANBCHRYHSBCMUFGFCNCACAHLLYXOMJNJDXJTSMGLDMPCBLX10.0%20.0%30.0%40.0%50.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than BBDKO: +14.7% a year, volatility 16.8%CVX: +19.5% a year, volatility 25.2%CSCO: +16.8% a year, volatility 26.1%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%AMGN: +19.6% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%TTE: +18.0% a year, volatility 25.8%BHP: +16.6% a year, volatility 31.4%ADI: +19.5% a year, volatility 34.1%CB: +15.7% a year, volatility 20.4%DE: +14.4% a year, volatility 29.9%TRV: +22.4% a year, volatility 22.3%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%HLT: +21.0% a year, volatility 26.8%MNST: +17.2% a year, volatility 24.9%SMH: +33.4% a year, volatility 36.9%JCI: +17.4% a year, volatility 29.1%ROST: +18.1% a year, volatility 29.5%EMR: +12.7% a year, volatility 27.7%AME: +14.4% a year, volatility 22.1%GRMN: +14.8% a year, volatility 31.6%IX: +17.9% a year, volatility 25.4%NTAP: +20.9% a year, volatility 35.3%FMX: +14.0% a year, volatility 25.7%KOF: +22.3% a year, volatility 24.7%IHG: +21.4% a year, volatility 26.6%RS: +24.8% a year, volatility 28.1%CQP: +15.3% a year, volatility 32.9%RPRX: +13.3% a year, volatility 23.8%FFIV: +17.1% a year, volatility 30.8%SNX: +20.3% a year, volatility 30.4%SMFG: +33.7% a year, volatility 29.4%AIT: +28.5% a year, volatility 30.3%EXEL: +24.4% a year, volatility 35.8%EWY: +16.2% a year, volatility 34.0%TD: +15.8% a year, volatility 20.0%RNR: +20.1% a year, volatility 27.8%BNY: +22.7% a year, volatility 24.4%CM: +19.2% a year, volatility 21.6%HST: +13.8% a year, volatility 30.0%MUSA: +26.1% a year, volatility 31.2%CACI: +16.6% a year, volatility 29.9%VLUE: +15.9% a year, volatility 18.4%AIZ: +13.3% a year, volatility 25.3%MSGS: +18.4% a year, volatility 25.6%BMO: +13.6% a year, volatility 21.4%BNS: +12.9% a year, volatility 19.9%FCFS: +20.6% a year, volatility 30.5%AVT: +22.1% a year, volatility 30.7%ACA: +23.1% a year, volatility 34.0%THG: +14.4% a year, volatility 22.9%CBOE: +21.5% a year, volatility 25.1%NHC: +32.0% a year, volatility 28.5%FLTW: +21.8% a year, volatility 24.3%RSPT: +16.9% a year, volatility 25.1%MSM: +13.3% a year, volatility 25.1%PSMT: +18.6% a year, volatility 28.2%STT: +14.4% a year, volatility 29.9%HRB: +18.3% a year, volatility 34.9%MCY: +17.0% a year, volatility 34.3%FTGC: +12.9% a year, volatility 15.6%MSFT: +12.5% a year, volatility 28.2%FRDM: +17.3% a year, volatility 22.8%VCTR: +28.1% a year, volatility 35.0%SEIC: +12.7% a year, volatility 22.3%BPOP: +17.7% a year, volatility 29.7%DIVB: +13.9% a year, volatility 15.4%HACK: +12.6% a year, volatility 25.8%IFS: +20.8% a year, volatility 31.1%VIRT: +20.8% a year, volatility 33.8%CNXN: +15.8% a year, volatility 29.2%SRCE: +15.1% a year, volatility 27.0%IHE: +12.6% a year, volatility 16.8%DMLP: +21.1% a year, volatility 29.1%GRC: +15.1% a year, volatility 31.3%SFL: +17.0% a year, volatility 30.4%STBA: +13.9% a year, volatility 28.2%RBCAA: +14.8% a year, volatility 27.9%NWPX: +32.5% a year, volatility 36.2%AAPL: +18.5% a year, volatility 28.0%HBT: +18.9% a year, volatility 28.7%COMT: +13.1% a year, volatility 21.1%QCRH: +14.1% a year, volatility 29.0%BBD: +11.1% a year, volatility 39.3%SPY (S&P 500): +12.7% a year, volatility 17.1%ITUB: +26.3% a year, volatility 33.8%BAP: +30.8% a year, volatility 30.3%EWZ: +14.9% a year, volatility 27.7%SAN: +31.7% a year, volatility 33.9%CIB: +32.9% a year, volatility 32.9%BCH: +25.2% a year, volatility 28.2%RY: +17.3% a year, volatility 18.2%HSBC: +33.1% a year, volatility 25.9%MUFG: +33.2% a year, volatility 29.4%MFG: +33.6% a year, volatility 30.6%CME: +11.2% a year, volatility 20.8%FCNCA: +20.4% a year, volatility 41.4%CAH: +42.1% a year, volatility 24.7%LLY: +40.7% a year, volatility 32.8%XOM: +27.1% a year, volatility 26.5%JNJ: +12.7% a year, volatility 17.9%DXJ: +26.6% a year, volatility 19.1%TSM: +31.5% a year, volatility 38.5%GLD: +17.7% a year, volatility 18.9%SLF: +11.7% a year, volatility 19.4%MPC: +51.2% a year, volatility 33.4%BLX: +31.4% a year, volatility 25.9%BBDSPY (S&P 500)ITUBBAPSANBCHRYHSBCMFGFCNCACAHLLYXOMJNJDXJTSMGLDMPCBLX
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than BBD?

Investments that beat BBD over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat BBD 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 BBD'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 BBD 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 BBD'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× BBD's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than BBD's.

Screen the whole market against BBD for any period in BetterThanSPYOpen these 21 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with BBD?lower diversifies moreExpenseper year
BBDBanco Bradesco S.A. · this page
+11.1%39.3%0.47−67.7%+35.5%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.190.09%
Popular alternativesbest 6 shownThe investments people most often weigh against BBD. 8 of 18 passed at least one test.
ITUBItaú Unibanco Holding S.A. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+26.3%33.8%0.86−62.1%+190%0.87—
BAPCredicorp Ltd. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+30.8%30.3%1.04−59.2%+298%0.42—
EWZiShares MSCI Brazil ETF · International Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+14.9%27.7%0.64−57.0%+90.3%0.840.59%
SANBanco Santander, S.A. · Banks
Higher return, lower volatilityHigher return in most periods+31.7%33.9%0.99−73.8%+332%0.29—
CIBGrupo Cibest S.A. · Banks
Higher return, lower volatilityHigher return in most periods+32.9%32.9%1.03−70.4%+345%0.50—
BCHBanco de Chile · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst decline+25.2%28.2%0.94−58.4%+180%0.55—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Banks and the categories next to it (Regional Banks, Capital Markets, Payment Processing, Asset Management), plus BBD's specific themes. 56 of 130 passed at least one test.
RYRoyal Bank of Canada · Banks
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.3%18.2%0.97−40.0%+352%0.33—
HSBCHSBC Holdings plc · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+33.1%25.9%1.24−62.3%+319%0.20—
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+33.2%29.4%1.13−54.9%+483%0.10—
MFGMizuho Financial Group, Inc. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+33.6%30.6%1.10−45.7%+345%0.05—
CMECME Group Inc. · Capital Markets
Similar return, lower volatilityHigher Sharpe, smaller worst decline+11.2%20.8%0.62−37.4%+319%0.05—
FCNCAFirst Citizens BancShares, Inc. · Regional Banks
Higher return, similar volatilityHigher Sharpe, smaller worst decline+20.4%41.4%0.64−47.5%+662%0.00—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,059 of 3,485 passed at least one test.
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+42.1%24.7%1.55−46.1%+349%0.29—
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+40.7%32.8%1.21−34.5%+1,807%-0.01—
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+27.1%26.5%1.04−61.0%+214%0.21—
JNJJohnson & Johnson · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.7%17.9%0.76−27.4%+196%0.24—
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+26.6%19.1%1.34−39.1%+428%0.060.48%
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+31.5%38.5%0.91−56.6%+1,505%0.10—
GLDSPDR Gold Shares · Gold
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+17.7%18.9%0.96−26.4%+213%0.160.40%
SLFSun Life Financial Inc. · Life Insurance
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+11.7%19.4%0.67−50.8%+255%0.31—
What these numbers mean for BBD
Annual return
BBD returned 11.1% 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 $16,900. 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
BBD's volatility over the past 5 years was 39.3%, 2.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BBD's return lands within 39.3% 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
BBD's Sharpe ratio over the past 5 years was 0.47, against 0.79 for the S&P 500, so BBD 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
BBD's worst fall from a peak to a low over the past 10 years was 67.7%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 67.7% fall takes a 210% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, BBD's monthly returns had a correlation of 0.19 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 BBD instead: the lower it is, the more that option would diversify a BBD holding. Guide: Correlation and diversification →
Show all 589 stocks and funds worth at least $500 million that earned more than BBD 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.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with BBDExpense
1
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.29—
2
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%-0.01—
3
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.1%26.5%1.04−61.0%+214%0.21—
4
RYRoyal Bank of Canada · Banks
Same or nearby category+17.3%18.2%0.97−40.0%+352%0.33—
5
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%0.24—
6
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.060.48%
7
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.14—
8
CVXChevron Corporation · Integrated Oil & Gas
Whole market+19.5%25.2%0.84−55.8%+238%0.17—
9
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%-0.10—
10
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.12—
11
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%0.02—
12
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%0.17—
13
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.08—
14
TTETotalEnergies SE · Integrated Oil & Gas
Whole market+18.0%25.8%0.78−59.6%+234%0.29—
15
BHPBHP Group Limited · Metals & Mining
Whole market+16.6%31.4%0.65−44.3%+398%0.18—
16
ADIAnalog Devices, Inc. · Semiconductors
Whole market+19.5%34.1%0.69−33.6%+652%0.23—
17
CBChubb Limited · Property & Casualty Insurance
Whole market+15.7%20.4%0.82−42.6%+248%0.15—
18
DEDeere & Company · Industrial Machinery
Whole market+14.4%29.9%0.60−37.9%+755%0.31—
19
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.27—
20
MARMarriott International, Inc. · Hotels & Resorts
Whole market+22.0%28.6%0.84−61.3%+544%0.18—
21
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.0%25.6%0.94−61.4%+278%0.24—
22
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.24—
23
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.07—
24
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+21.0%26.8%0.85−50.8%+694%0.07—
25
MNSTMonster Beverage Corporation · Food & Beverages
Whole market+17.2%24.9%0.77−30.4%+285%-0.04—
26
SMHVanEck Semiconductor ETF · Semiconductors
Whole market+33.4%36.9%0.97−45.3%+1,665%0.110.35%
27
JCIJohnson Controls International plc · Building Products
Whole market+17.4%29.1%0.70−46.4%+426%0.18—
28
ROSTRoss Stores, Inc. · Specialty Retail
Whole market+18.1%29.5%0.71−51.4%+312%-0.03—
29
EMREmerson Electric Co. · Industrial Machinery
Whole market+12.7%27.7%0.57−50.8%+309%0.01—
30
AMEAMETEK, Inc. · Electronic Instruments
Whole market+14.4%22.1%0.72−42.7%+481%0.15—
31
GRMNGarmin Ltd. · Computer Hardware
Whole market+14.8%31.6%0.59−54.6%+670%0.13—
32
IXORIX Corporation · Diversified Financials
Whole market+17.9%25.4%0.78−42.5%+284%0.23—
33
HSBCHSBC Holdings plc · Banks
Same or nearby category+33.1%25.9%1.24−62.3%+319%0.20—
34
NTAPNetApp, Inc. · Computer Hardware
Whole market+20.9%35.3%0.71−58.1%+691%0.10—
35
FMXFomento Económico Mexicano, S.A.B. de C.V. · Convenience Stores
Whole market+14.0%25.7%0.64−45.5%+79.7%0.25—
36
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.3%24.7%0.94−55.1%+119%0.19—
37
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.4%26.6%0.86−59.3%+383%0.01—
38
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Same or nearby category+33.2%29.4%1.13−54.9%+483%0.10—
39
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.93−40.8%+626%0.05—
40
CQPCheniere Energy Partners, L.P. · Oil & Gas Midstream
Whole market+15.3%32.9%0.60−60.3%+319%0.09—
41
RPRXRoyalty Pharma plc · Pharmaceuticals
Whole market+13.3%23.8%0.65−49.7%—0.04—
42
FFIVF5, Inc. · Cybersecurity
Whole market+17.1%30.8%0.67−54.6%+287%0.00—
43
SNXTD Synnex Corp · Technology Distribution
Whole market+20.3%30.4%0.76−55.8%+430%0.12—
44
MFGMizuho Financial Group, Inc. · Banks
Same or nearby category+33.6%30.6%1.10−45.7%+345%0.05—
45
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Same or nearby category+33.7%29.4%1.14−47.6%+474%-0.10—
46
AITApplied Industrial Technologies, Inc. · Industrial Distribution
Whole market+28.5%30.3%0.98−59.3%+742%-0.08—
47
EXELExelixis, Inc. · Biotechnology
Whole market+24.4%35.8%0.79−57.2%+448%-0.05—
48
EWYiShares MSCI South Korea ETF · International Equity
Whole market+16.2%34.0%0.61−49.7%+230%0.190.59%
49
TDThe Toronto-Dominion Bank · Banks
Same or nearby category+15.8%20.0%0.84−42.0%+310%0.37—
50
RNRRenaissanceRe Holdings Ltd. · Insurance
Whole market+20.1%27.8%0.80−40.7%+215%-0.12—
51
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%0.20—
52
BNYBank of New York Mellon Corp · Banks
Same or nearby category+22.7%24.4%0.97−50.5%+341%0.16—
53
CMCanadian Imperial Bank of Commerce · Banks
Same or nearby category+19.2%21.6%0.93−47.3%+395%0.38—
54
HSTHost Hotels & Resorts, Inc. · Hotel REITs
Whole market+13.8%30.0%0.58−55.0%+144%0.30—
55
MUSAMurphy USA Inc. · Convenience Stores
Whole market+26.1%31.2%0.90−35.5%+706%0.11—
56
CACICACI International Inc · Business Services
Whole market+16.6%29.9%0.66−42.9%+499%0.22—
57
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+15.9%18.4%0.90−39.5%+286%0.210.15%
58
AIZAssurant, Inc. · Property & Casualty Insurance
Whole market+13.3%25.3%0.62−44.6%+312%0.13—
59
MSGSMadison Square Garden Sports Corp. · Entertainment
Whole market+18.4%25.6%0.79−41.6%+432%0.15—
60
BMOBank of Montreal · Banks
Same or nearby category+13.6%21.4%0.71−51.0%+295%0.34—
61
BNSThe Bank of Nova Scotia · Banks
Same or nearby category+12.9%19.9%0.71−46.9%+187%0.28—
62
FCFSFirstCash Holdings, Inc · Consumer Finance
Whole market+20.6%30.5%0.77−50.2%+422%0.12—
63
AVTAvnet, Inc. · Technology Distribution
Whole market+22.1%30.7%0.81−58.4%+173%0.19—
64
ACAArcosa, Inc. · Construction Materials
Whole market+23.1%34.0%0.78−36.8%—0.24—
65
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.160.40%
66
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance
Whole market+14.4%22.9%0.70−40.1%+291%0.10—
67
CBOECboe Global Markets, Inc. · Capital Markets
Same or nearby category+21.5%25.1%0.91−43.2%+463%0.09—
68
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.22—
69
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.090.19%
70
ITUBItaú Unibanco Holding S.A. · Banks
Popular alternative+26.3%33.8%0.86−62.1%+190%0.87—
71
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.9%25.1%0.75−33.7%+572%0.120.40%
72
MSMMSC Industrial Direct Co., Inc. · Industrial Distribution
Whole market+13.3%25.1%0.63−48.2%+184%0.23—
73
BAPCredicorp Ltd. · Banks
Popular alternative+30.8%30.3%1.04−59.2%+298%0.42—
74
PSMTPriceSmart, Inc. · Discount Retail
Whole market+18.6%28.2%0.75−53.2%+124%0.18—
75
STTState Street Corporation · Banks
Same or nearby category+14.4%29.9%0.60−59.6%+212%0.23—
76
HRBH&R Block, Inc. · Tax Preparation
Whole market+18.3%34.9%0.65−57.7%+206%0.00—
77
MCYMercury General Corporation · Property & Casualty Insurance
Whole market+17.0%34.3%0.63−55.3%+198%0.03—
78
FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives
Whole market+12.9%15.6%0.86−35.9%+139%0.130.98%
79
MSFTMicrosoft Corporation · Software
Whole market+12.5%28.2%0.56−37.1%+946%0.00—
80
FRDMFreedom 100 Emerging Markets ETF · International
Whole market+17.3%22.8%0.82−40.5%—0.370.49%
81
VCTRVictory Capital Holdings, Inc. · Asset Management
Same or nearby category+28.1%35.0%0.89−45.2%—-0.03—
82
SEICSEI Investments Company · Asset Management
Same or nearby category+12.7%22.3%0.65−51.8%+168%0.15—
83
BPOPPopular, Inc. · Regional Banks
Same or nearby category+17.7%29.7%0.70−59.0%+448%0.21—
84
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.210.05%
85
HACKAmplify Cybersecurity ETF · Technology
Whole market+12.6%25.8%0.59−38.7%+373%0.000.60%
86
IFSIntercorp Financial Services Inc. · Regional Banks
Same or nearby category+20.8%31.1%0.77−56.9%—0.25—
87
VIRTVirtu Financial, Inc. · Capital Markets
Same or nearby category+20.8%33.8%0.73−56.2%+545%0.19—
88
CNXNPC Connection, Inc. · Technology Distributors
Whole market+15.8%29.2%0.65−41.8%+277%0.15—
89
SRCE1st Source Corporation · Banks - Regional
Whole market+15.1%27.0%0.66−51.7%+210%0.20—
90
IHEiShares U.S. Pharmaceuticals ETF · Broad Market
Whole market+12.6%16.8%0.80−29.6%+151%0.160.37%
91
DMLPDorchester Minerals, L.P. · Oil & Gas Exploration & Production
Whole market+21.1%29.1%0.81−56.8%+435%0.24—
92
GRCThe Gorman-Rupp Company · Industrial - Machinery
Whole market+15.1%31.3%0.61−49.3%+281%0.04—
93
SFLSFL Corporation Ltd · Marine Shipping
Whole market+17.0%30.4%0.67−55.3%+123%0.16—
94
STBAS&T Bancorp, Inc. · Banks - Regional
Whole market+13.9%28.2%0.60−61.7%+141%0.13—
95
RBCAARepublic Bancorp, Inc. · Banks - Regional
Whole market+14.8%27.9%0.64−44.7%+318%0.12—
96
NWPXNWPX Infrastructure, Inc. · Construction Materials
Whole market+32.5%36.2%0.96−46.5%+682%0.05—
97
AAPLApple Inc. · Computer Hardware
Whole market+18.5%28.0%0.75−38.5%+1,168%0.12—
98
HBTHBT Financial, Inc. · Banks - Regional
Whole market+18.9%28.7%0.75−54.0%—0.02—
99
COMTiShares GSCI Commodity Dynamic Roll Strategy ETF · Commodities
Whole market+13.1%21.1%0.69−39.2%+160%0.100.49%
100
QCRHQCR Holdings, Inc. · Banks - Regional
Whole market+14.1%29.0%0.60−53.0%+233%0.06—

BBD against its popular alternatives

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

How do BBD'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 BBD, which divides the map into what did better or worse on each measure.

Green points earned more than BBD with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityBBD: 11.1% a year, volatility 39.3%SPY (S&P 500): 12.7% a year, volatility 17.1%CIB: 32.9% a year, volatility 32.9%ITUB: 26.3% a year, volatility 33.8%BAP: 30.8% a year, volatility 30.3%EWZ: 14.9% a year, volatility 27.7%SAN: 31.6% a year, volatility 33.9%BLX: 31.4% a year, volatility 25.9%BCH: 25.2% a year, volatility 28.2%BSAC: 19.5% a year, volatility 29.0%BBDO: 9.9% a year, volatility 43.1%MELI: 3.2% a year, volatility 49.5%XP: −0.2% a year, volatility 51.5%PAGS: −19.8% a year, volatility 60.6%STNE: −18.0% a year, volatility 65.1%GGAL: 31.2% a year, volatility 58.3%BBAR: 32.5% a year, volatility 64.8%BMA: 35.7% a year, volatility 59.3%SUPV: 24.1% a year, volatility 71.2%BSBR: −0.5% a year, volatility 34.4%BBDSPY (S&P 500)CIBITUBBAPEWZBLXBCHBSACBBDOMELIXPPAGSSTNEGGALBBARBMASUPVBSBR0.0%20.0%40.0%60.0%80.0%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityBBD: 11.1% a year, volatility 39.3%SPY (S&P 500): 12.7% a year, volatility 17.1%CIB: 32.9% a year, volatility 32.9%ITUB: 26.3% a year, volatility 33.8%BAP: 30.8% a year, volatility 30.3%EWZ: 14.9% a year, volatility 27.7%SAN: 31.6% a year, volatility 33.9%BLX: 31.4% a year, volatility 25.9%BCH: 25.2% a year, volatility 28.2%BSAC: 19.5% a year, volatility 29.0%BBDO: 9.9% a year, volatility 43.1%MELI: 3.2% a year, volatility 49.5%XP: −0.2% a year, volatility 51.5%PAGS: −19.8% a year, volatility 60.6%STNE: −18.0% a year, volatility 65.1%GGAL: 31.2% a year, volatility 58.3%BBAR: 32.5% a year, volatility 64.8%BMA: 35.7% a year, volatility 59.3%SUPV: 24.1% a year, volatility 71.2%BSBR: −0.5% a year, volatility 34.4%BBDSPY (S&P 500)CIBITUBBAPBCHBSACBBDOMELIXPPAGSGGALBMASUPVBSBR
All figures
InvestmentAnnual returnVolatility
BMA Banco Macro S.A.+35.7%59.3%
CIB Grupo Cibest S.A.+32.9%32.9%
BBAR Banco BBVA Argentina S.A.+32.5%64.8%
SAN Banco Santander, S.A.+31.6%33.9%
BLX Bladex, Inc.+31.4%25.9%
GGAL Grupo Financiero Galicia S.A.+31.2%58.3%
BAP Credicorp Ltd.+30.8%30.3%
ITUB Itaú Unibanco Holding S.A.+26.3%33.8%
BCH Banco de Chile+25.2%28.2%
SUPV Grupo Supervielle S.A.+24.1%71.2%
BSAC Banco Santander-Chile+19.5%29.0%
EWZ iShares MSCI Brazil ETF+14.9%27.7%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
BBD This pageBanco Bradesco S.A.+11.1%39.3%
BBDO Banco Bradesco S.A.+9.9%43.1%
MELI MercadoLibre, Inc.+3.2%49.5%
XP XP Inc.−0.2%51.5%
BSBR Banco Santander (Brasil) S.A.−0.5%34.4%
STNE StoneCo Ltd.−18.0%65.1%
PAGS PagSeguro Digital Ltd.−19.8%60.6%
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Has BBD consistently beaten its popular alternatives?

This section compares BBD 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 BBD helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than BBD 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.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
BBD Banco Bradesco S.A. (this page)—+18.3%+15.9%+1.7%+29.1%+31.6%+90.7%+69.3%+35.5%39.3%0.47−67.7%—$43B—
CIB QualifiedGrupo Cibest S.A.4/5 short3/3 longAll-weather0.0%+20.5%+32.5%+59.5%+81.1%+398%+314%+345%32.9%1.03−70.4%—$23B—
ITUB QualifiedItaú Unibanco Holding S.A.4/5 short3/3 longAll-weather+14.8%+16.7%+5.8%+37.2%+46.3%+147%+221%+190%33.8%0.86−62.1%—$107B—
BAP QualifiedCredicorp Ltd.3/5 short3/3 long+0.1%+1.0%+21.9%+42.9%+61.4%+275%+283%+298%30.3%1.04−59.2%—$31B—
EWZ QualifiediShares MSCI Brazil ETF4/5 short2/3 long+12.8%+21.0%+5.0%+34.6%+48.5%+70.8%+100%+90.3%27.7%0.64−57.0%0.59%$14B—
SAN Banks - DiversifiedBanco Santander, S.A.2/5 short3/3 long−10.2%−1.4%+4.5%+9.8%+35.9%+305%+295%+332%33.9%0.99−73.8%—$194B—
BLX Banks - RegionalBladex, Inc.1/5 short3/3 long+1.8%−4.2%−0.3%+32.2%+29.9%+201%+292%+290%25.9%1.19−68.5%—$1.6B—
BCH Banks - RegionalBanco de Chile0/5 short3/3 long−4.6%−1.0%−3.7%+8.6%+25.2%+138%+208%+180%28.2%0.94−58.4%—$20B—
BSAC Banks - RegionalBanco Santander-Chile0/5 short3/3 long−4.1%+0.2%−2.0%+11.4%+24.0%+124%+144%+154%29.0%0.76−63.9%—$16B—
GGAL Banks - RegionalGrupo Financiero Galicia S.A.0/5 short3/3 long−15.0%−28.7%−24.7%−31.9%+14.1%+254%+288%+48.4%58.3%0.75−91.7%—$6.0B—
BBAR Banks - RegionalBanco BBVA Argentina S.A.1/5 short2/3 long−12.5%−35.9%−24.8%−29.0%+35.7%+283%+309%−13.5%64.8%0.75−91.6%—$2.6B—
BMA Banks - RegionalBanco Macro S.A.0/5 short2/3 long−15.8%−30.1%−22.1%−25.9%+25.7%+297%+360%+14.9%59.3%0.81−91.7%—$4.0B—
SUPV Banks - RegionalGrupo Supervielle S.A.0/5 short2/3 long−10.5%−25.9%−27.9%−37.9%+16.3%+274%+194%−48.9%71.2%0.65−96.0%—$676M—
BBDO Banks - RegionalBanco Bradesco S.A.4/5 short1/3 long+16.0%+20.6%+3.7%+36.2%+37.2%+94.2%+60.4%−21.0%43.1%0.44−76.5%—$41B—
MELI Specialty RetailMercadoLibre, Inc.0/5 short1/3 long+3.2%+2.6%+0.5%−4.8%−10.6%+60.7%+17.2%+1,002%49.5%0.31−69.1%—$95B—
XP Financial - Capital MarketsXP Inc.5/5 short0/3 long+50.8%+86.5%+52.5%+96.2%+83.7%+64.5%−0.9%—51.5%0.25−79.2%—$16B—
PAGS Specialty Business ServicesPagSeguro Digital Ltd.4/5 short0/3 long+23.8%+29.9%+9.2%+29.2%+38.4%+73.1%−66.9%—60.6%-0.07−90.0%—$3.2B—
INTR Banks - RegionalInter & Co, Inc.2/5 short0/3 long+30.3%+29.2%−11.8%−13.1%−21.3%+80.1%————−68.3%—$3.2B—
STNE Software - InfrastructureStoneCo Ltd.1/5 short0/3 long+24.3%+8.5%−5.1%−0.6%−21.7%+46.8%−63.0%—65.1%0.02−92.3%—$2.8B—
BSBR Banks - RegionalBanco Santander (Brasil) S.A.0/5 short0/3 long−4.4%+6.0%−10.8%−6.8%+6.6%+18.6%−2.6%−1.2%34.4%0.16−70.6%—$42B—
NU Banks - RegionalNu Holdings Ltd.0/5 short0/3 long+7.3%+7.9%−0.1%−11.3%−2.1%+84.7%————−72.1%—$73B—
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How did BBD do year by year?

This table shows each investment's total return in every full calendar year since 2002, along with where BBD ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with BBD and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of BBD; gray means the two finished within a fraction of a point. The rank row places BBD among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of BBD202520242023202220212020201920182017201620152014201320122011201020092008200720062005200420032002
BBD This pageBanco Bradesco S.A.—+96.9%−42.2%+34.8%−5.1%−25.4%−33.6%+15.7%+9.7%+33.6%+108%−55.3%+9.1%−19.5%+6.1%−16.2%+13.9%+124%−52.7%+58.7%+39.4%+133%+445%+78.3%−41.8%
Rank among alternativesTop quarter in 6 of 244 of 2118 of 2115 of 2113 of 2014 of 1914 of 198 of 183 of 169 of 162 of 1515 of 158 of 1514 of 157 of 147 of 1410 of 146 of 138 of 133 of 125 of 111 of 111 of 118 of 118 of 10
SPY S&P 500State Street SPDR S&P 500 ETF12 of 24+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%
CIB Grupo Cibest S.A.13 of 24+122%+13.6%+20.6%−2.0%−20.8%−22.6%+47.2%−0.8%+11.4%+41.9%−42.2%+0.4%−24.2%+14.7%−1.5%+39.4%+102%−28.9%+12.8%+10.9%+109%+176%+138%+60.1%
ITUB Itaú Unibanco Holding S.A.12 of 23+79.3%−24.2%+54.5%+30.0%−22.8%−30.5%+8.1%+13.6%+31.3%+76.8%−44.0%+9.9%−5.2%−6.8%−19.1%+8.8%+125%−38.8%+50.9%+57.9%+65.1%+61.5%+126%—
BAP Credicorp Ltd.14 of 24+65.4%+31.4%+16.3%+14.6%−24.7%−17.7%−0.3%+9.0%+37.8%+64.9%−38.4%+22.3%−7.9%+36.3%−6.0%+57.5%+58.9%−33.2%+91.0%+86.8%+50.5%+22.0%+51.8%+5.5%
EWZ iShares MSCI Brazil ETF11 of 24+48.8%−30.4%+32.6%+12.1%−17.3%−20.3%+27.7%−2.5%+23.6%+64.5%−41.8%−15.5%−17.5%+0.3%−24.1%+7.8%+122%−56.0%+74.8%+43.3%+52.7%+33.6%+117%−36.4%
SAN Banco Santander, S.A.10 of 24+165%+14.9%+46.4%−6.8%+10.2%−19.6%−2.2%−28.5%+33.3%+12.3%−37.9%−0.4%+27.4%+22.8%−20.2%−30.2%+91.8%−52.3%+20.2%+47.1%+10.5%+6.8%+77.6%−11.3%
BLX Bladex, Inc.14 of 24+33.1%+53.7%+60.6%+4.3%+11.6%−19.4%+33.0%−31.3%−3.4%+20.6%−10.3%+14.2%+36.5%+41.6%−9.1%+38.7%+2.5%−7.3%−0.5%+3.0%+3.7%+12.3%+324%−83.8%
BCH Banco de Chile13 of 24+77.6%+3.9%+20.3%+39.2%−21.6%+1.1%−24.7%−6.9%+45.0%+25.9%−8.2%−16.5%−3.7%+24.0%−2.5%+72.4%+79.1%−25.6%−3.3%+37.0%+9.5%+43.4%+81.3%−6.8%
BSAC Banco Santander-Chile10 of 24+74.3%+0.9%+31.6%+3.0%−11.0%−13.0%−19.9%−0.1%+49.4%+30.8%−5.8%−12.7%−13.9%+1.4%−16.0%+50.3%+96.2%−27.7%+9.8%+12.0%+39.6%+53.0%+35.1%−8.5%
GGAL Grupo Financiero Galicia S.A.13 of 24−11.4%+289%+92.3%+7.3%+9.5%−45.6%−40.4%−57.9%+145%−0.3%+70.8%+52.5%+58.8%+12.4%−61.1%+166%+155%−70.2%−20.7%+38.3%−19.4%+27.3%+234%−36.9%
BBAR Banco BBVA Argentina S.A.11 of 24−4.1%+316%+47.3%+34.2%−1.8%−42.3%−49.2%−54.5%+47.0%−6.5%+38.3%+98.7%+38.3%+3.1%−53.6%+106%+141%−58.3%−19.1%+34.1%−0.3%−20.7%+209%−55.5%
BMA Banco Macro S.A.10 of 19−3.6%+266%+84.9%+26.5%−10.0%−57.0%−14.1%−60.7%+81.5%+12.2%+32.9%+86.4%+33.8%−7.0%−58.8%+74.0%+183%−54.5%−19.6%—————
SUPV Grupo Supervielle S.A.5 of 9−20.8%+281%+87.6%+11.2%−7.4%−41.7%−57.1%−70.2%+124%———————————————
BBDO Banco Bradesco S.A.5 of 13+79.3%−40.2%+37.2%−8.5%−34.6%−45.6%+25.7%−3.0%+8.7%+81.6%−49.0%−4.0%+2.6%———————————
MELI MercadoLibre, Inc.12 of 18+18.4%+8.2%+85.7%−37.2%−19.5%+193%+95.3%−6.9%+102%+37.1%−10.1%+19.2%+38.0%−0.7%+19.9%+28.5%+216%−77.8%——————
XP XP Inc.2 of 6+39.6%−52.3%+79.6%−46.6%−27.6%+3.0%——————————————————
PAGS PagSeguro Digital Ltd.3 of 7+61.0%−49.8%+42.7%−66.7%−53.9%+66.5%+82.3%—————————————————
INTR Inter & Co, Inc.3 of 3+104%−23.6%+134%—————————————————————
STNE StoneCo Ltd.3 of 7+85.7%−55.8%+90.9%−44.0%−79.9%+110%+116%—————————————————
BSBR Banco Santander (Brasil) S.A.7 of 16+62.5%−39.7%+23.0%+2.9%−34.2%−27.0%+14.0%+21.3%+12.2%+143%−20.0%−12.2%−15.3%−7.3%−37.5%+2.1%————————
NU Nu Holdings Ltd.2 of 4+61.6%+24.4%+105%−56.6%————————————————————
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Risk and diversification

How BBD 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 BBD's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents BBD's five deepest drawdowns since it began trading in 2001, 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.

Green means BBD fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringBBD fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2015 China and oil sell-off−73.4%+70.1%Nov 2010Jan 20165.2 yearsJan 20182 years
Dot-com bust−70.2%−23.1%Apr 2002Oct 20026 monthsJun 200420 months
2008 financial crisis−69.0%−46.1%May 2008Nov 20086 monthsSep 201022 months
Covid crash−67.7%−4.2%Jul 2019May 202010 monthsNot yet—
February 2018 volatility shock−44.9%−5.2%Jan 2018Jun 20185 monthsJan 20197 months

How did BBD do in stock market crashes?

This section measures how far BBD, 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.

Note: BBD began trading on November 21, 2001, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than BBD.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
BBD This pageBanco Bradesco S.A.—−6.9%−30.2%−54.5%−7.6%−6.3%−44.3%−25.1%−0.8%−69.0%Not yet trading
SPY S&P 500State Street SPDR S&P 500 ETF6 of 9−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
CIB Grupo Cibest S.A.4 of 9−9.8%−44.6%−70.1%−15.3%−4.8%−38.7%−17.7%−1.7%−63.4%−75.1%
ITUB Itaú Unibanco Holding S.A.2 of 9−8.1%−31.5%−46.3%−7.5%−5.8%−32.4%−30.1%−0.7%−69.2%—
BAP Credicorp Ltd.5 of 9−4.7%−33.3%−38.3%−7.3%−6.7%−33.9%−16.0%−2.8%−64.9%−55.6%
EWZ iShares MSCI Brazil ETF3 of 9−5.6%−32.2%−52.6%−10.6%−6.3%−36.9%−29.1%−0.7%−73.0%—
SAN Banco Santander, S.A.1 of 9−11.4%−41.0%−48.1%−19.0%−6.0%−44.7%−33.2%−0.9%−76.1%−58.4%
BLX Bladex, Inc.7 of 9−3.8%−23.9%−48.4%−26.7%−4.6%−27.8%−19.7%−2.5%−63.2%−94.3%
BCH Banco de Chile6 of 9−2.1%−27.0%−29.8%−10.5%−2.7%−15.2%−25.4%−1.4%−57.6%−37.3%
BSAC Banco Santander-Chile5 of 9−6.0%−37.0%−38.1%−12.4%−4.5%−22.6%−29.0%−1.2%−48.4%−28.0%
GGAL Grupo Financiero Galicia S.A.1 of 9−14.5%−44.7%−58.1%−27.3%−8.5%−22.1%−47.8%−1.5%−82.4%—
BBAR Banco BBVA Argentina S.A.3 of 9−16.6%−41.8%−50.5%−23.9%−8.5%−30.1%−47.1%0.0%−80.2%−95.7%
BMA Banco Macro S.A.1 of 9−11.1%−41.2%−55.7%−26.4%−6.3%−27.9%−48.1%−0.5%−77.5%—
SUPV Grupo Supervielle S.A.0 of 5−12.1%−39.8%−54.4%−29.4%−7.0%—————
BBDO Banco Bradesco S.A.0 of 6−6.8%−36.3%−55.6%−9.3%−8.8%−44.1%————
MELI MercadoLibre, Inc.3 of 9−7.2%−51.6%−39.1%−30.3%−8.8%−31.9%−39.5%0.0%−89.5%—
XP XP Inc.0 of 3−15.3%−52.4%−60.6%———————
PAGS PagSeguro Digital Ltd.1 of 5−12.8%−60.9%−59.7%−44.9%−0.7%—————
INTR Inter & Co, Inc.0 of 1−13.1%—————————
STNE StoneCo Ltd.0 of 3−10.2%−59.0%−55.2%———————
BSBR Banco Santander (Brasil) S.A.2 of 8−8.6%−37.6%−50.4%−13.9%−6.2%−31.4%−30.5%−4.0%——
NU Nu Holdings Ltd.0 of 2−10.0%−67.5%————————
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How closely does BBD 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 BBD with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

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 BBD's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
BBD This pageBanco Bradesco S.A.62%103%0.600.72
BCH Banco de Chile45%19%2.410.36
MELI MercadoLibre, Inc.135%111%1.211.44
ITUB Itaú Unibanco Holding S.A.66%58%1.150.65
SAN Banco Santander, S.A.101%92%1.101.02
BAP Credicorp Ltd.88%82%1.070.88
BLX Bladex, Inc.91%90%1.011.07
BSAC Banco Santander-Chile66%65%1.010.66
CIB Grupo Cibest S.A.119%133%0.900.99
EWZ iShares MSCI Brazil ETF69%95%0.730.83
GGAL Grupo Financiero Galicia S.A.140%234%0.601.52
BMA Banco Macro S.A.113%202%0.561.36
BSBR Banco Santander (Brasil) S.A.56%102%0.550.74
BBAR Banco BBVA Argentina S.A.98%191%0.511.14
BBDO Banco Bradesco S.A.54%125%0.430.84
SUPV Grupo Supervielle S.A.95%224%0.421.51
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What diversifies BBD?

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 BBD's. Because such investments tend not to fall at the same time, pairing BBD with them can reduce a portfolio's overall swings.

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 BBD lost money. The last two columns show a portfolio that is 80% BBD and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe20242022202120202015201320112008200280/20 mix volatility80/20 mix annual return
BBD Banco Bradesco S.A. (this page)1.00+69.3%0.47−42.2%−5.1%−25.4%−33.6%−55.3%−19.5%−16.2%−52.7%−41.8%39.6%+7.8%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.25+119%1.48+15.9%+3.8%+17.8%−9.0%—————32.2%+10.8%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.06+225%1.34+29.8%+6.0%+18.0%+3.9%+7.7%+41.3%−16.1%−20.8%—32.0%+12.8%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.25+101%1.04+33.4%+10.4%+23.1%−13.4%−25.3%+16.6%———32.6%+10.6%
HDV Dividend & IncomeiShares Core High Dividend ETF0.29+83.3%1.00+14.1%+7.1%+19.6%−6.5%−0.3%+23.8%———32.6%+9.9%
SMH TechnologyVanEck Semiconductor ETF0.11+323%0.97+39.1%−33.5%+42.1%+55.5%−0.3%+33.4%+6.8%−44.7%−47.0%33.2%+15.3%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.16+85.0%0.96+13.4%−5.1%+19.6%+2.1%+4.1%+26.4%———32.1%+10.3%
GLD CommoditiesSPDR Gold Shares0.16+126%0.96+26.7%−0.8%−4.2%+24.8%−10.7%−28.3%+9.6%+4.9%—32.4%+11.2%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.10+136%0.93+45.8%−10.4%+22.7%+28.2%—————32.4%+12.0%

Stocks

InvestmentCorrelation5Y returnSharpe20242022202120202015201320112008200280/20 mix volatility80/20 mix annual return
BBD Banco Bradesco S.A. (this page)1.00+69.3%0.47−42.2%−5.1%−25.4%−33.6%−55.3%−19.5%−16.2%−52.7%−41.8%39.6%+7.8%
CAH Medical - DistributionCardinal Health, Inc.0.29+479%1.55+19.0%+54.1%−0.4%+10.1%+12.6%+66.0%+8.1%−39.6%−8.3%33.6%+14.7%
CLS Hardware, Equipment & PartsCelestica Inc.0.10+3,143%1.47+215%+1.3%+37.9%−2.4%−6.0%+27.6%−24.4%−20.5%−65.1%34.8%+27.5%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.08+1,636%1.46+107%+17.0%+89.0%+6.7%+67.7%+61.7%−17.0%−15.2%−9.4%33.6%+23.7%
MCK Medical - DistributionMcKesson Corporation0.12+413%1.44+23.7%+51.8%+44.2%+27.1%−4.5%+67.7%+11.8%−40.4%−27.2%32.7%+14.4%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.20+690%1.41−4.0%+86.6%+61.0%−27.4%+17.4%+48.6%———33.6%+16.8%
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Common questions

What was BBD's worst drawdown?

BBD's deepest decline since it began trading in 2001 was 73.4%, from November 2010 to January 2016. It took 24 months from the low to climb back to its old high.

What were BBD's best and worst years?

Over 24 full calendar years, BBD's best year was 2004, when it returned 445%. Its worst was 2015, with a return of -55.3%.

Is there a better investment than BBD?

Among BBD's popular alternatives, ITUB, BAP and EWZ earned more than BBD with less volatility over the past 5 years. ITUB returned 26.3% a year at 33.8% volatility, against 11.1% a year at 39.3%. Looking beyond its popular alternatives, RY (banks) and HSBC (banks) earned more than BBD with less volatility over the past 5 years. RY returned 17.3% a year at 18.2% volatility, against 11.1% a year at 39.3%.

Is BBD more volatile than the S&P 500?

Yes. BBD's volatility over the past 5 years was 39.3%, 2.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BBD's return lands within 39.3% 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 BBD's Sharpe ratio?

BBD's Sharpe ratio over the past 5 years was 0.47, against 0.79 for the S&P 500, so BBD 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 BBD with the S&P 500?

Over the past 5 years, BBD's monthly returns had a correlation of 0.19 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 BBD instead: the lower it is, the more that option would diversify a BBD holding.

What are the best alternatives to BBD?

Of the 20 popular alternatives we compared, four outperformed BBD in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: CIB, ITUB and BAP.

Did BBD outperform the S&P 500?

BBD finished ahead of the S&P 500 (SPY) in 12 of 24 full calendar years. In 2025, it returned +96.9%, against +17.7% for the index.

How did BBD do in stock market crashes?

BBD fell less than the S&P 500 (SPY) in two of the nine major crashes it has traded through, and further in six. The clearest case was the 2015 China and oil sell-off, when BBD fell 44.3% and the S&P 500 fell 12.8%.

What diversifies BBD?

These had a low correlation with BBD over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.25), DXJ (correlation 0.06) and EMLP (correlation 0.25); among large stocks, CAH (correlation 0.29), CLS (correlation 0.10) and FIX (correlation 0.08). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to BBD

Other stocks and ETFs