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

> Source: EasyCompare research, https://easycompare.io/research/bbd
> 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 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.

## Key findings

- **Right now:** BBD has outpaced the market, rising 15.9% over the past 3 months against 3.9% for the S&P 500 and 3.2% for the Nasdaq 100. Its bank peers split over the past 3 months: BBDO (Banco Bradesco) rose 20.6%, while SAN (Banco Santander) fell 1.4%.
- **Stock or market?:** BBD held up far better than its industry: it rose 15.9% over the past 3 months while the banks ETF IXG (iShares Global Financials ETF) fell 0.2%. The S&P 500 rose 3.9%. BBD rose 18.3% last month as the S&P 500 fell 0.6% and the Nasdaq 100 fell 3.2%.
- **Past 1 to 3 years:** Over the past year, BBD rose 31.6% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. A behind 75% of stocks worth at least $300 million over 10 years, but ahead of 67% of the stocks worth at least $300 million over 3 years.
- **Long term:** BBD turned $10,000 into $13,600 over the past decade, against $42,100 in the S&P 500.
- **In a crash:** Across six sell-offs, BBD has typically fallen 1.6 times as far as the S&P 500. That said, in the 2022 bear market, BBD held up better than SAN (Banco Santander), ITUB and NU; only BCH (Banco de Chile) and BLX fell less.
- **Diversification:** BBD is a real diversifier: a correlation of 0.19 with the S&P 500 over 5 years and 0.19 with the total US market, less closely than 87% of stocks worth at least $300 million. Even so, over 10 years, BBD's beta versus the S&P 500 was 0.72: in the S&P 500's rising months it gained 62% as much as the index, and in falling months it lost 1.0 times as much.
- **Better options**
  - **Nearby categories and themes:** RY (Royal Bank of Canada, 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%.
  - **Whole market:** 589 of the 3,633 stocks and funds worth at least $500 million earned more than BBD with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and MSFT (Microsoft).

## 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.

- $10,000 invested in BBD at the end of September 2002 would have grown to $836,693 by September 2026, more than the $144,215 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of BBD, and MNST finished highest, at $19,302,640.

## 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.

- 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.
- Over 24 full calendar years, BBD's best was 2004, when it returned 445%, and its worst was 2015, when it lost 55.3%. It lost money in nine of those years.
- BBD is 14.5% below its all-time high.

- Type: Stock, Financials (Banks - Regional)
- Trading since: November 21, 2001
- Market value: $43B
- Volatility (5 years): 39.3%; Sharpe ratio: 0.47
- Worst decline ever: −73.4%, from November 4, 2010 to January 21, 2016; back at its high by January 19, 2018

| Period | BBD total return |
| --- | --- |
| 1 month | +18.3% |
| 3 months | +15.9% |
| 6 months | +1.7% |
| year to date | +29.1% |
| 1 year | +31.6% |
| 3 years | +90.7% |
| 5 years | +69.3% |
| 10 years | +35.5% |

## 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.

- BBD lands in the broad middle of the market on every measure here. BBD's 1-year return ranks in the top 28% of the 3,287 stocks worth at least $300 million with 1 year of history.

| Measure | BBD | Rank |
| --- | --- | --- |
| 1-year return | +31.6% | 925 of 3,287 (top 29%) |
| 3-year return | +90.7% | 999 of 3,017 (top 34%) |
| 5-year return | +69.3% | 908 of 2,893 (top 32%) |
| 10-year return | +35.5% | 1,649 of 2,202 (top 75%) |
| Volatility, 5 years | 39.3% | 1,415 of 2,893 (top 49%) |
| Sharpe ratio, 5 years | 0.47 | 1,025 of 2,893 (top 36%) |
| Worst decline, past 10 years | −67.7% | 1,206 of 2,187 (top 56%) |

### 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).

- 383 stocks and 206 ETFs worth at least $500 million sit in the green region: each earned more than BBD over the past 5 years with smaller price swings. That is 16% of the 3,633 screened.
- Among those with at least half BBD's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 37% less than BBD's 39.3%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.47 for BBD. MPC earned the most, 51.2% a year, while still swinging less than BBD (33.4% against 39.3%).
- Among BBD's popular alternatives, BLX, BAP and CIB are in the region. BLX earned 31.4% a year against 11.1% a year for BBD, at 25.9% volatility, 34% less than BBD's 39.3%.

### Is there a better investment than BBD?

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.

- 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%.
- Across the whole market, 589 of the 3,633 stocks and funds worth at least $500 million earned more than BBD with less volatility over the past 5 years, among them AAPL, GOOG and MSFT.

The 15 strongest of 589 investments that beat BBD over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with BBD | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| BBD: Banco Bradesco S.A. (this page) |  | +11.1% | 39.3% | 0.47 | −67.7% | +35.5% |  |  |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.29 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | Pharmaceuticals | +40.7% | 32.8% | 1.21 | −34.5% | +1,807% | -0.01 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [XOM](https://easycompare.io/research/xom): Exxonmobil Holdings Corporation | Integrated Oil & Gas | +27.1% | 26.5% | 1.04 | −61.0% | +214% | 0.21 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | Pharmaceuticals | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.24 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| DXJ: WisdomTree Japan Hedged Equity Fund | International Equity | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.06 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | Food & Beverages | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.14 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [CVX](https://easycompare.io/research/cvx): Chevron Corporation | Integrated Oil & Gas | +19.5% | 25.2% | 0.84 | −55.8% | +238% | 0.17 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [CSCO](https://easycompare.io/research/csco): Cisco Systems, Inc. | Communications Equipment | +16.8% | 26.1% | 0.73 | −42.0% | +374% | -0.10 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MCK](https://easycompare.io/research/mck): McKesson Corporation | Health Care Distribution | +38.7% | 25.0% | 1.44 | −38.1% | +586% | 0.12 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | Pharmaceuticals | +16.3% | 24.8% | 0.74 | −43.4% | +241% | 0.02 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | Biotechnology | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.17 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [GILD](https://easycompare.io/research/gild): Gilead Sciences, Inc. | Biotechnology | +22.8% | 24.9% | 0.95 | −30.5% | +200% | 0.08 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [TTE](https://easycompare.io/research/tte): TotalEnergies SE | Integrated Oil & Gas | +18.0% | 25.8% | 0.78 | −59.6% | +234% | 0.29 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [BHP](https://easycompare.io/research/bhp): BHP Group Limited | Metals & Mining | +16.6% | 31.4% | 0.65 | −44.3% | +398% | 0.18 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## 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.

- Eight of the 18 popular alternatives, led by CIB, SAN and BLX, were both more rewarding and calmer than BBD over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, BBD returned 11.1% a year, less than the S&P 500's 12.7%, with higher volatility (39.3% against 17.1%).

### 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.

- Four of the 20 popular alternatives, led by CIB, ITUB and BAP, outperformed BBD in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- CIB and ITUB outperformed BBD in every long-term period and in all but one short-term period, the most consistent record in the group.
- BAP, BCH and ITUB earned more for the risk they took than BBD (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of BBD | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| BBD: Banco Bradesco S.A. (this page) | +31.6% | +90.7% | +69.3% | +35.5% |  |  | 0.47 |
| CIB: Grupo Cibest S.A. | +81.1% | +398% | +314% | +345% | 4/5 short-term, 3/3 long-term | all-weather | 1.03 |
| [ITUB](https://easycompare.io/research/itub): Itaú Unibanco Holding S.A. | +46.3% | +147% | +221% | +190% | 4/5 short-term, 3/3 long-term | all-weather | 0.86 |
| BAP: Credicorp Ltd. | +61.4% | +275% | +283% | +298% | 3/5 short-term, 3/3 long-term | consistent | 1.04 |
| EWZ: iShares MSCI Brazil ETF | +48.5% | +70.8% | +100% | +90.3% | 4/5 short-term, 2/3 long-term | consistent | 0.64 |
| [SAN](https://easycompare.io/research/san): Banco Santander, S.A. | +35.9% | +305% | +295% | +332% | 2/5 short-term, 3/3 long-term |  | 0.99 |
| BLX: Bladex, Inc. | +29.9% | +201% | +292% | +290% | 1/5 short-term, 3/3 long-term |  | 1.19 |
| BCH: Banco de Chile | +25.2% | +138% | +208% | +180% | 0/5 short-term, 3/3 long-term |  | 0.94 |
| BSAC: Banco Santander-Chile | +24.0% | +124% | +144% | +154% | 0/5 short-term, 3/3 long-term |  | 0.76 |
| GGAL: Grupo Financiero Galicia S.A. | +14.1% | +254% | +288% | +48.4% | 0/5 short-term, 3/3 long-term |  | 0.75 |
| BBAR: Banco BBVA Argentina S.A. | +35.7% | +283% | +309% | −13.5% | 1/5 short-term, 2/3 long-term |  | 0.75 |
| BMA: Banco Macro S.A. | +25.7% | +297% | +360% | +14.9% | 0/5 short-term, 2/3 long-term |  | 0.81 |
| SUPV: Grupo Supervielle S.A. | +16.3% | +274% | +194% | −48.9% | 0/5 short-term, 2/3 long-term |  | 0.65 |
| [BBDO](https://easycompare.io/research/bbdo): Banco Bradesco S.A. | +37.2% | +94.2% | +60.4% | −21.0% | 4/5 short-term, 1/3 long-term |  | 0.44 |
| [MELI](https://easycompare.io/research/meli): MercadoLibre, Inc. | −10.6% | +60.7% | +17.2% | +1,002% | 0/5 short-term, 1/3 long-term |  | 0.31 |
| XP: XP Inc. | +83.7% | +64.5% | −0.9% | — | 5/5 short-term, 0/3 long-term |  | 0.25 |
| PAGS: PagSeguro Digital Ltd. | +38.4% | +73.1% | −66.9% | — | 4/5 short-term, 0/3 long-term |  | -0.07 |
| INTR: Inter & Co, Inc. | −21.3% | +80.1% | — | — | 2/5 short-term, 0/3 long-term |  | — |
| STNE: StoneCo Ltd. | −21.7% | +46.8% | −63.0% | — | 1/5 short-term, 0/3 long-term |  | 0.02 |
| [BSBR](https://easycompare.io/research/bsbr): Banco Santander (Brasil) S.A. | +6.6% | +18.6% | −2.6% | −1.2% | 0/5 short-term, 0/3 long-term |  | 0.16 |
| [NU](https://easycompare.io/research/nu): Nu Holdings Ltd. | −2.1% | +84.7% | — | — | 0/5 short-term, 0/3 long-term |  | — |

### 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.

- Ranked against its popular alternatives each year, BBD finished in the top quarter in six of 24 years and in the bottom quarter in three. In 2025, it ranked 4 of 21.
- BBD finished ahead of the S&P 500 in 12 of its 24 full calendar years.
- Among its popular alternatives, MELI came out ahead of BBD most often, in 12 of the 18 years both traded.

| Year | BBD | SPY |
| --- | --- | --- |
| 2025 | +96.9% | +17.7% |
| 2024 | −42.2% | +24.9% |
| 2023 | +34.8% | +26.2% |
| 2022 | −5.1% | −18.2% |
| 2021 | −25.4% | +28.7% |
| 2020 | −33.6% | +18.3% |
| 2019 | +15.7% | +31.2% |
| 2018 | +9.7% | −4.6% |
| 2017 | +33.6% | +21.7% |
| 2016 | +108% | +12.0% |

## 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.

- In all five of BBD's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: BBD fell 73.4% from November 2010 to January 2016, while the S&P 500 rose 70.1%.
- The slowest recovery came after BBD fell 73.4% from November 2010 to January 2016; it did not regain that peak until January 2018, two years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −73.4% | November 4, 2010 | January 21, 2016 | January 19, 2018 | +70.1% | 2015 China and oil sell-off |
| −70.2% | April 10, 2002 | October 16, 2002 | June 28, 2004 | −23.1% | dot-com bust |
| −69.0% | May 2, 2008 | November 20, 2008 | September 29, 2010 | −46.1% | 2008 financial crisis |
| −67.7% | July 10, 2019 | May 13, 2020 | not yet | −4.2% | Covid crash |
| −44.9% | January 26, 2018 | June 27, 2018 | January 25, 2019 | −5.2% | February 2018 volatility shock |

### 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.

- BBD fell further than the S&P 500 in six of the nine crashes it has traded through. The clearest case was the 2015 China and oil sell-off, when BBD fell 44.3% and the S&P 500 fell 12.8%.
- Among its popular alternatives, BLX held up best, falling less than BBD in seven of the nine crashes they both traded through.
- BBD began trading after the dot-com bust, but seven of its popular alternatives lived through it. The mildest fall among them was BSAC's 28.0%, against 47.5% for the S&P 500.

| Crash | Dates | BBD 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 | −69.0% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −0.8% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −25.1% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −44.3% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −6.3% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −7.6% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −54.5% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −30.2% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −6.9% | −3.4% |

### 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.

- Nine of the 15 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than BBD's 0.60, led by BCH, MELI and ITUB.
- ITUB took just 58% of the S&P 500's losses, against 103% for BBD, while still keeping 66% of its gains.
- Over the past 10 years, BBD captured 62% of the S&P 500's gains in rising months and 103% of its losses in falling months, with a beta of 0.72. Its share of the market's losses was larger than its share of the gains.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| BBD: Banco Bradesco S.A. (this page) | 62.0% | 103% | 0.72 |
| CIB: Grupo Cibest S.A. | 119% | 133% | 0.99 |
| [ITUB](https://easycompare.io/research/itub): Itaú Unibanco Holding S.A. | 66.0% | 58.0% | 0.65 |
| BAP: Credicorp Ltd. | 88.0% | 82.0% | 0.88 |
| EWZ: iShares MSCI Brazil ETF | 69.0% | 95.0% | 0.83 |
| [SAN](https://easycompare.io/research/san): Banco Santander, S.A. | 101% | 92.0% | 1.02 |
| BLX: Bladex, Inc. | 91.0% | 90.0% | 1.07 |
| BCH: Banco de Chile | 45.0% | 19.0% | 0.36 |
| BSAC: Banco Santander-Chile | 66.0% | 65.0% | 0.66 |
| GGAL: Grupo Financiero Galicia S.A. | 140% | 234% | 1.52 |
| BBAR: Banco BBVA Argentina S.A. | 98.0% | 191% | 1.14 |
| BMA: Banco Macro S.A. | 113% | 202% | 1.36 |
| SUPV: Grupo Supervielle S.A. | 95.0% | 224% | 1.51 |
| [BBDO](https://easycompare.io/research/bbdo): Banco Bradesco S.A. | 54.0% | 125% | 0.84 |
| [MELI](https://easycompare.io/research/meli): MercadoLibre, Inc. | 135% | 111% | 1.44 |
| [BSBR](https://easycompare.io/research/bsbr): Banco Santander (Brasil) S.A. | 56.0% | 102% | 0.74 |

### 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).

- Moving a fifth of the money in BBD into DXJ would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (+7.8% for BBD alone, +12.8% for the mix).
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of BBD over the past 5 years, with correlations of 0.25 or lower, and each still earned a positive 5-year return.
- DXJ made money in six of the nine calendar years in which BBD lost money.

| Investment | Correlation with BBD | 5Y return | Volatility | Sharpe | Rose in BBD's 9 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.25 | +119% | 11.1% | 1.48 | 3 of 9 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.06 | +225% | 19.1% | 1.34 | 6 of 9 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.25 | +101% | 14.5% | 1.04 | 4 of 9 |
| HDV: iShares Core High Dividend ETF | 0.29 | +83.3% | 13.0% | 1.00 | 4 of 9 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.11 | +323% | 36.9% | 0.97 | 5 of 9 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.16 | +85.0% | 13.8% | 0.96 | 5 of 9 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.16 | +126% | 18.9% | 0.96 | 4 of 9 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.10 | +136% | 20.8% | 0.93 | 3 of 9 |

## 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.

## More research

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- [MercadoLibre (MELI) Performance, Alternatives and Market Rank](https://easycompare.io/research/meli)
- [Banco Santander (Brasil) (BSBR) Performance, Alternatives and Market Rank](https://easycompare.io/research/bsbr)
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- [Amazon.com (AMZN) Performance, Alternatives and Market Rank](https://easycompare.io/research/amzn)

## Explore further

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