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Relative Intelligence · Banks

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

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

Period covered: BBDO's full trading record, from March 2012 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 BBDO →Chart BBDO vs. 20 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in BBDO over the past 14 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of BBDO over the same span and BBDO'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.

Note: BBDO began trading on March 13, 2012, so the chart cannot reach back to the dot-com bust, the 2008 financial crisis or two other sell-offs. It covers the most recent 14 years of BBDO's record, starting at the end of September 2012.

Choose a period

From the end of September 2012 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. 2,076 of the 2,213 stocks and funds worth at least $500 million that traded the whole period ended ahead of BBDO; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$20,000$50,000$100,00020122014201620182020202220242026$5,000$10,000$20,000$50,000$100,0002012201620202024
  • GGAL$87,418+774% total · +16.8% a year
  • SPY (S&P 500)$67,346+573% total · +14.6% a year
  • BLX$58,162+482% total · +13.4% a year
  • BAP$49,846+398% total · +12.2% a year
  • SAN$40,554+306% total · +10.5% a year
  • ITUB$32,434+224% total · +8.8% a year
  • CIB$31,964+220% total · +8.7% a year
  • BCH$29,461+195% total · +8.0% a year
  • BSAC$23,248+132% total · +6.2% a year
  • BBDO$7,568−24.3% total · −2.0% 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. 1,894 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of BBDO; 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
  • BBDO$13,363+33.6% total · +6.0% a year
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BBDO 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.

Note: BBDO began trading on March 13, 2012, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust, the 2008 financial crisis or two other sell-offs.

The company

Market value
$41B
Industry
Banks - Regional
Price history from
March 2012

Returns

Past 1 year
+37.2%total return
Past 3 years
+94.2%+24.8% a year
Past 5 years
+60.4%+9.9% a year
Past 10 years
−21.0%−2.3% a year
Best calendar year
+81.6%2016
Worst calendar year
−49.0%2015
Losing years
7 of 13full calendar years

Risk

Volatility
43.1%typical yearly swing, 5 years
Sharpe ratio
0.44return per unit of risk, 5 years
Worst decline ever
−76.8%Sep 2014 to Dec 2024
From its all-time high
−41.0%below the peak

BBDO against the whole market

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

How does BBDO rank among all stocks?

This section ranks BBDO 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 BBDO 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.

MeasureBBDORankStanding
1-year return+37.2%793 of 3,287top 24%
3-year return+94.2%968 of 3,017top 32%
5-year return+60.4%992 of 2,893top 34%
10-year return−21.0%1,916 of 2,202bottom 14%
Volatility, 5 years43.1%1,614 of 2,893bottom 45%
Sharpe ratio, 5 years0.441,121 of 2,893top 39%
Worst decline, past 10 years−76.5%1,510 of 2,187bottom 32%

What has beaten BBDO 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). BBDO sits where the dashed lines cross. Anything in the green box above and to the left earned more than BBDO 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 BBDO; faint dots are 87 more of the 827 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 BBDOKO: +14.7% a year, volatility 16.8%CVX: +19.5% a year, volatility 25.2%CSCO: +16.8% a year, volatility 26.1%SHEL: +21.0% a year, volatility 24.8%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%AMGN: +19.6% a year, volatility 24.9%SCCO: +32.0% a year, volatility 40.7%TTE: +18.0% a year, volatility 25.8%PSX: +33.2% a year, volatility 32.9%BHP: +16.6% a year, volatility 31.4%ADI: +19.5% a year, volatility 34.1%COP: +18.2% a year, volatility 32.6%TRV: +22.4% a year, volatility 22.3%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%BP: +16.0% a year, volatility 28.7%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%EQNR: +19.2% a year, volatility 34.4%SMH: +33.4% a year, volatility 36.9%WAB: +25.6% a year, volatility 26.2%ROST: +18.1% a year, volatility 29.5%XLE: +22.6% a year, volatility 25.5%TAK: +11.9% a year, volatility 19.4%NUE: +21.7% a year, volatility 37.4%STLD: +32.2% a year, volatility 38.0%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%WDS: +13.2% a year, volatility 33.5%IHG: +21.4% a year, volatility 26.6%RS: +24.8% a year, volatility 28.1%PBA: +13.8% a year, volatility 21.5%COKE: +41.2% a year, volatility 38.0%RPRX: +13.3% a year, volatility 23.8%FFIV: +17.1% a year, volatility 30.8%MOG-A: +36.6% a year, volatility 32.0%SNX: +20.3% a year, volatility 30.4%RGA: +19.7% a year, volatility 27.3%EXPD: +12.0% a year, volatility 27.1%SMFG: +33.7% a year, volatility 29.4%PFG: +13.0% a year, volatility 26.5%EXEL: +24.4% a year, volatility 35.8%TD: +15.8% a year, volatility 20.0%RNR: +20.1% a year, volatility 27.8%HALO: +26.6% a year, volatility 40.4%MPC: +51.2% a year, volatility 33.4%EWT: +20.4% a year, volatility 24.2%PBR-A: +51.8% a year, volatility 37.5%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%MSGS: +18.4% a year, volatility 25.6%BNS: +12.9% a year, volatility 19.9%AVT: +22.1% a year, volatility 30.7%ARW: +12.5% a year, volatility 30.6%ACA: +23.1% a year, volatility 34.0%KB: +25.3% a year, volatility 34.4%GGB: +14.1% a year, volatility 38.6%MATX: +24.9% a year, volatility 39.4%NHC: +32.0% a year, volatility 28.5%PDBC: +11.7% a year, volatility 19.3%FLTW: +21.8% a year, volatility 24.3%RSPT: +16.9% a year, volatility 25.1%DHT: +38.7% a year, volatility 39.0%MSM: +13.3% a year, volatility 25.1%PSMT: +18.6% a year, volatility 28.2%STT: +14.4% a year, volatility 29.9%CNO: +18.8% a year, volatility 28.1%IXC: +20.7% a year, volatility 23.2%FTGC: +12.9% a year, volatility 15.6%OPLN: +19.9% a year, volatility 39.6%FRDM: +17.3% a year, volatility 22.8%SOXQ: +28.3% a year, volatility 38.9%HURN: +29.7% a year, volatility 40.7%VCTR: +28.1% a year, volatility 35.0%DCO: +27.5% a year, volatility 34.5%BPOP: +17.7% a year, volatility 29.7%BHE: +24.9% a year, volatility 37.3%ETR: +19.2% a year, volatility 22.4%CCEP: +19.7% a year, volatility 23.2%VIRT: +20.8% a year, volatility 33.8%CNXN: +15.8% a year, volatility 29.2%BBDO: +9.9% a year, volatility 43.1%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%CIB: +32.9% a year, volatility 32.9%EWZ: +14.9% a year, volatility 27.7%BCH: +25.2% a year, volatility 28.2%BSAC: +19.5% a year, volatility 29.0%RY: +17.3% a year, volatility 18.2%MUFG: +33.2% a year, volatility 29.4%MFG: +33.6% a year, volatility 30.6%FCNCA: +20.4% a year, volatility 41.4%IBN: +9.2% a year, volatility 23.5%TFSL: +4.3% a year, volatility 23.5%CAH: +42.1% a year, volatility 24.7%MSFT: +12.5% a year, volatility 28.2%TSM: +31.5% a year, volatility 38.5%LLY: +40.7% a year, volatility 32.8%XOM: +27.1% a year, volatility 26.5%GLD: +17.7% a year, volatility 18.9%ASML: +17.4% a year, volatility 43.4%FBT: +10.8% a year, volatility 22.2%INSW: +56.5% a year, volatility 40.5%BLX: +31.4% a year, volatility 25.9%BBDOSPY (S&P 500)ITUBBAPCIBEWZBCHBSACRYMUFGFCNCAIBNTFSLCAHMSFTTSMLLYXOMGLDASMLFBTINSWBLX10.0%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 BBDOKO: +14.7% a year, volatility 16.8%CVX: +19.5% a year, volatility 25.2%CSCO: +16.8% a year, volatility 26.1%SHEL: +21.0% a year, volatility 24.8%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%AMGN: +19.6% a year, volatility 24.9%SCCO: +32.0% a year, volatility 40.7%TTE: +18.0% a year, volatility 25.8%PSX: +33.2% a year, volatility 32.9%BHP: +16.6% a year, volatility 31.4%ADI: +19.5% a year, volatility 34.1%COP: +18.2% a year, volatility 32.6%TRV: +22.4% a year, volatility 22.3%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%BP: +16.0% a year, volatility 28.7%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%EQNR: +19.2% a year, volatility 34.4%SMH: +33.4% a year, volatility 36.9%WAB: +25.6% a year, volatility 26.2%ROST: +18.1% a year, volatility 29.5%XLE: +22.6% a year, volatility 25.5%TAK: +11.9% a year, volatility 19.4%NUE: +21.7% a year, volatility 37.4%STLD: +32.2% a year, volatility 38.0%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%WDS: +13.2% a year, volatility 33.5%IHG: +21.4% a year, volatility 26.6%RS: +24.8% a year, volatility 28.1%PBA: +13.8% a year, volatility 21.5%COKE: +41.2% a year, volatility 38.0%RPRX: +13.3% a year, volatility 23.8%FFIV: +17.1% a year, volatility 30.8%MOG-A: +36.6% a year, volatility 32.0%SNX: +20.3% a year, volatility 30.4%RGA: +19.7% a year, volatility 27.3%EXPD: +12.0% a year, volatility 27.1%SMFG: +33.7% a year, volatility 29.4%PFG: +13.0% a year, volatility 26.5%EXEL: +24.4% a year, volatility 35.8%TD: +15.8% a year, volatility 20.0%RNR: +20.1% a year, volatility 27.8%HALO: +26.6% a year, volatility 40.4%MPC: +51.2% a year, volatility 33.4%EWT: +20.4% a year, volatility 24.2%PBR-A: +51.8% a year, volatility 37.5%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%MSGS: +18.4% a year, volatility 25.6%BNS: +12.9% a year, volatility 19.9%AVT: +22.1% a year, volatility 30.7%ARW: +12.5% a year, volatility 30.6%ACA: +23.1% a year, volatility 34.0%KB: +25.3% a year, volatility 34.4%GGB: +14.1% a year, volatility 38.6%MATX: +24.9% a year, volatility 39.4%NHC: +32.0% a year, volatility 28.5%PDBC: +11.7% a year, volatility 19.3%FLTW: +21.8% a year, volatility 24.3%RSPT: +16.9% a year, volatility 25.1%DHT: +38.7% a year, volatility 39.0%MSM: +13.3% a year, volatility 25.1%PSMT: +18.6% a year, volatility 28.2%STT: +14.4% a year, volatility 29.9%CNO: +18.8% a year, volatility 28.1%IXC: +20.7% a year, volatility 23.2%FTGC: +12.9% a year, volatility 15.6%OPLN: +19.9% a year, volatility 39.6%FRDM: +17.3% a year, volatility 22.8%SOXQ: +28.3% a year, volatility 38.9%HURN: +29.7% a year, volatility 40.7%VCTR: +28.1% a year, volatility 35.0%DCO: +27.5% a year, volatility 34.5%BPOP: +17.7% a year, volatility 29.7%BHE: +24.9% a year, volatility 37.3%ETR: +19.2% a year, volatility 22.4%CCEP: +19.7% a year, volatility 23.2%VIRT: +20.8% a year, volatility 33.8%CNXN: +15.8% a year, volatility 29.2%BBDO: +9.9% a year, volatility 43.1%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%CIB: +32.9% a year, volatility 32.9%EWZ: +14.9% a year, volatility 27.7%BCH: +25.2% a year, volatility 28.2%BSAC: +19.5% a year, volatility 29.0%RY: +17.3% a year, volatility 18.2%MUFG: +33.2% a year, volatility 29.4%MFG: +33.6% a year, volatility 30.6%FCNCA: +20.4% a year, volatility 41.4%IBN: +9.2% a year, volatility 23.5%TFSL: +4.3% a year, volatility 23.5%CAH: +42.1% a year, volatility 24.7%MSFT: +12.5% a year, volatility 28.2%TSM: +31.5% a year, volatility 38.5%LLY: +40.7% a year, volatility 32.8%XOM: +27.1% a year, volatility 26.5%GLD: +17.7% a year, volatility 18.9%ASML: +17.4% a year, volatility 43.4%FBT: +10.8% a year, volatility 22.2%INSW: +56.5% a year, volatility 40.5%BLX: +31.4% a year, volatility 25.9%BBDOSPY (S&P 500)ITUBBAPBCHBSACRYMUFGMFGFCNCAIBNTFSLCAHTSMLLYXOMGLDASMLINSW
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than BBDO?

Investments that beat BBDO 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 BBDO 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 BBDO'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 BBDO 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 BBDO'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× BBDO's volatility counts as better.

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

Screen the whole market against BBDO 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 BBDO?lower diversifies moreExpenseper year
BBDOBanco Bradesco S.A. · this page
+9.9%43.1%0.44−76.5%−21.0%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.220.09%
Popular alternativesbest 6 shownThe investments people most often weigh against BBDO. 9 of 18 passed at least one test.
ITUBItaú Unibanco Holding S.A. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+26.3%33.8%0.86−62.1%+190%0.88—
BAPCredicorp Ltd. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+30.8%30.3%1.04−59.2%+298%0.46—
CIBGrupo Cibest S.A. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+32.9%32.9%1.03−70.4%+345%0.54—
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%0.860.59%
BCHBanco de Chile · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst decline+25.2%28.2%0.94−58.4%+180%0.58—
BSACBanco Santander-Chile · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst decline+19.5%29.0%0.76−63.9%+154%0.61—
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 BBDO's specific themes. 64 of 129 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%0.37—
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%0.15—
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%0.09—
FCNCAFirst Citizens BancShares, Inc. · Regional Banks
Higher return, similar volatilityHigher Sharpe, smaller worst decline+20.4%41.4%0.64−47.5%+662%-0.04—
IBNICICI Bank Limited · Banks
Similar return, lower volatility+9.2%23.5%0.49−55.0%+318%0.18—
TFSLTFS Financial Corporation · Regional Banks
Smaller losses in recent crashes+4.3%23.5%0.29−42.9%+78.1%0.34—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,384 of 3,486 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%0.26—
MSFTMicrosoft Corporation · Software
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.5%28.2%0.56−37.1%+946%0.04—
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+31.5%38.5%0.91−56.6%+1,505%0.06—
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%0.27—
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%0.170.40%
ASMLASML Holding N.V. · Semiconductor Equipment
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.4%43.4%0.59−56.9%+1,628%0.15—
FBTFirst Trust NYSE Arca Biotechnology Index Fund · Healthcare
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+10.8%22.2%0.58−33.3%+203%0.150.55%
What these numbers mean for BBDO
Annual return
BBDO returned 9.9% 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 $16,000. 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
BBDO's volatility over the past 5 years was 43.1%, 2.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BBDO's return lands within 43.1% 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
BBDO's Sharpe ratio over the past 5 years was 0.44, against 0.79 for the S&P 500, so BBDO 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
BBDO's worst fall from a peak to a low over the past 10 years was 76.5%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 76.5% fall takes a 326% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, BBDO's monthly returns had a correlation of 0.22 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against BBDO instead: the lower it is, the more that option would diversify a BBDO holding. Guide: Correlation and diversification →
Show all 827 stocks and funds worth at least $500 million that earned more than BBDO 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 BBDOExpense
1
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.26—
2
MSFTMicrosoft Corporation · Software
Whole market+12.5%28.2%0.56−37.1%+946%0.04—
3
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Whole market+31.5%38.5%0.91−56.6%+1,505%0.06—
4
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.01—
5
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.1%26.5%1.04−61.0%+214%0.27—
6
ITUBItaú Unibanco Holding S.A. · Banks
Popular alternative+26.3%33.8%0.86−62.1%+190%0.88—
7
BAPCredicorp Ltd. · Banks
Popular alternative+30.8%30.3%1.04−59.2%+298%0.46—
8
RYRoyal Bank of Canada · Banks
Same or nearby category+17.3%18.2%0.97−40.0%+352%0.37—
9
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.19—
10
CVXChevron Corporation · Integrated Oil & Gas
Whole market+19.5%25.2%0.84−55.8%+238%0.25—
11
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%-0.06—
12
SHELShell plc · Integrated Oil & Gas
Whole market+21.0%24.8%0.90−67.2%+233%0.33—
13
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.15—
14
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%0.05—
15
INSWInternational Seaways, Inc. · Oil & Gas
Whole market+56.5%40.5%1.31−57.4%—0.16—
16
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%0.21—
17
SCCOSouthern Copper Corporation · Metals & Mining
Whole market+32.0%40.7%0.89−55.3%+1,017%0.27—
18
TTETotalEnergies SE · Integrated Oil & Gas
Whole market+18.0%25.8%0.78−59.6%+234%0.33—
19
PSXPhillips 66 · Oil & Gas
Whole market+33.2%32.9%1.04−64.2%+430%0.27—
20
BHPBHP Group Limited · Metals & Mining
Whole market+16.6%31.4%0.65−44.3%+398%0.24—
21
ADIAnalog Devices, Inc. · Semiconductors
Whole market+19.5%34.1%0.69−33.6%+652%0.27—
22
COPConocoPhillips · Exploration & Production
Whole market+18.2%32.6%0.68−70.7%+379%0.33—
23
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.32—
24
MARMarriott International, Inc. · Hotels & Resorts
Whole market+22.0%28.6%0.84−61.3%+544%0.20—
25
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.0%25.6%0.94−61.4%+278%0.30—
26
BPBP p.l.c. · Integrated Oil & Gas
Whole market+16.0%28.7%0.66−63.9%+141%0.26—
27
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.32—
28
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.10—
29
EQNREquinor ASA · Integrated Oil & Gas
Whole market+19.2%34.4%0.69−66.8%+416%0.22—
30
SMHVanEck Semiconductor ETF · Semiconductors
Whole market+33.4%36.9%0.97−45.3%+1,665%0.080.35%
31
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Whole market+25.6%26.2%1.00−64.1%+264%0.36—
32
ROSTRoss Stores, Inc. · Specialty Retail
Whole market+18.1%29.5%0.71−51.4%+312%0.06—
33
XLEState Street Energy Select Sector SPDR ETF · Energy Equity
Whole market+22.6%25.5%0.93−66.8%+189%0.320.08%
34
TAKTakeda Pharmaceutical Company Limited · Pharmaceuticals
Whole market+11.9%19.4%0.68−54.4%+30.4%0.24—
35
NUENucor Corporation · Metals & Mining
Whole market+21.7%37.4%0.72−57.2%+569%0.10—
36
STLDSteel Dynamics, Inc. · Metals & Mining
Whole market+32.2%38.0%0.93−68.5%+1,018%0.13—
37
IXORIX Corporation · Diversified Financials
Whole market+17.9%25.4%0.78−42.5%+284%0.28—
38
NTAPNetApp, Inc. · Computer Hardware
Whole market+20.9%35.3%0.71−58.1%+691%0.14—
39
FMXFomento Económico Mexicano, S.A.B. de C.V. · Convenience Stores
Whole market+14.0%25.7%0.64−45.5%+79.7%0.28—
40
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.3%24.7%0.94−55.1%+119%0.22—
41
WDSWoodside Energy Group Ltd · Oil & Gas
Whole market+13.2%33.5%0.54−66.1%+90.7%0.23—
42
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.4%26.6%0.86−59.3%+383%0.04—
43
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Same or nearby category+33.2%29.4%1.13−54.9%+483%0.15—
44
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.93−40.8%+626%0.10—
45
PBAPembina Pipeline Corporation · Oil & Gas Midstream
Whole market+13.8%21.5%0.71−70.9%+172%0.29—
46
COKECoca-Cola Consolidated, Inc. · Food & Beverages
Whole market+41.2%38.0%1.10−51.7%+1,569%0.21—
47
RPRXRoyalty Pharma plc · Pharmaceuticals
Whole market+13.3%23.8%0.65−49.7%—0.06—
48
FFIVF5, Inc. · Cybersecurity
Whole market+17.1%30.8%0.67−54.6%+287%0.02—
49
MOG-AMoog Inc. · Aerospace & Defense
Whole market+36.6%32.0%1.14−63.7%+595%0.12—
50
SNXTD Synnex Corp · Technology Distribution
Whole market+20.3%30.4%0.76−55.8%+430%0.13—
51
MFGMizuho Financial Group, Inc. · Banks
Same or nearby category+33.6%30.6%1.10−45.7%+345%0.09—
52
RGAReinsurance Group of America, Incorporated · Insurance
Whole market+19.7%27.3%0.80−65.8%+199%0.20—
53
EXPDExpeditors International of Washington, Inc. · Freight & Logistics
Whole market+12.0%27.1%0.56−35.6%+349%0.15—
54
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Same or nearby category+33.7%29.4%1.14−47.6%+474%-0.03—
55
PFGPrincipal Financial Group, Inc. · Life Insurance
Whole market+13.0%26.5%0.60−64.7%+196%0.36—
56
EXELExelixis, Inc. · Biotechnology
Whole market+24.4%35.8%0.79−57.2%+448%-0.06—
57
TDThe Toronto-Dominion Bank · Banks
Same or nearby category+15.8%20.0%0.84−42.0%+310%0.39—
58
RNRRenaissanceRe Holdings Ltd. · Insurance
Whole market+20.1%27.8%0.80−40.7%+215%-0.13—
59
HALOHalozyme Therapeutics, Inc. · Biotechnology
Whole market+26.6%40.4%0.79−49.1%+1,196%0.08—
60
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%0.22—
61
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+20.4%24.2%0.89−38.9%+468%0.070.59%
62
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+51.8%37.5%1.31−71.7%+768%0.47—
63
CMCanadian Imperial Bank of Commerce · Banks
Same or nearby category+19.2%21.6%0.93−47.3%+395%0.42—
64
HSTHost Hotels & Resorts, Inc. · Hotel REITs
Whole market+13.8%30.0%0.58−55.0%+144%0.31—
65
MUSAMurphy USA Inc. · Convenience Stores
Whole market+26.1%31.2%0.90−35.5%+706%0.10—
66
CACICACI International Inc · Business Services
Whole market+16.6%29.9%0.66−42.9%+499%0.25—
67
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+15.9%18.4%0.90−39.5%+286%0.230.15%
68
MSGSMadison Square Garden Sports Corp. · Entertainment
Whole market+18.4%25.6%0.79−41.6%+432%0.22—
69
BNSThe Bank of Nova Scotia · Banks
Same or nearby category+12.9%19.9%0.71−46.9%+187%0.30—
70
AVTAvnet, Inc. · Technology Distribution
Whole market+22.1%30.7%0.81−58.4%+173%0.20—
71
ARWArrow Electronics, Inc. · Technology Distribution
Whole market+12.5%30.6%0.54−52.8%+250%0.29—
72
ACAArcosa, Inc. · Construction Materials
Whole market+23.1%34.0%0.78−36.8%—0.25—
73
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.170.40%
74
KBKB Financial Group Inc. · Banks
Same or nearby category+25.3%34.4%0.83−64.1%+390%0.33—
75
GGBGerdau S.A. · Metals & Mining
Whole market+14.1%38.6%0.54−67.4%+225%0.45—
76
MATXMatson, Inc. · Freight & Logistics
Whole market+24.9%39.4%0.76−53.6%+594%0.35—
77
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.24—
78
PDBCInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF · Broad Commodities
Whole market+11.7%19.3%0.67−40.7%+153%0.140.74%
79
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.080.19%
80
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.9%25.1%0.75−33.7%+572%0.130.40%
81
DHTDHT Holdings, Inc. · Marine Shipping
Whole market+38.7%39.0%1.04−39.7%+1,050%0.03—
82
MSMMSC Industrial Direct Co., Inc. · Industrial Distribution
Whole market+13.3%25.1%0.63−48.2%+184%0.25—
83
PSMTPriceSmart, Inc. · Discount Retail
Whole market+18.6%28.2%0.75−53.2%+124%0.24—
84
STTState Street Corporation · Banks
Same or nearby category+14.4%29.9%0.60−59.6%+212%0.28—
85
CNOCNO Financial Group, Inc. · Life Insurance
Whole market+18.8%28.1%0.76−63.8%+342%0.17—
86
CIBGrupo Cibest S.A. · Banks
Popular alternative+32.9%32.9%1.03−70.4%+345%0.54—
87
IXCiShares Global Energy ETF · International
Whole market+20.7%23.2%0.93−64.2%+183%0.360.37%
88
FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives
Whole market+12.9%15.6%0.86−35.9%+139%0.170.98%
89
OPLNOPENLANE, Inc. · Auto Auctions
Whole market+19.9%39.6%0.65−64.5%+153%0.03—
90
FRDMFreedom 100 Emerging Markets ETF · International
Whole market+17.3%22.8%0.82−40.5%—0.370.49%
91
SOXQInvesco PHLX Semiconductor ETF · Technology
Whole market+28.3%38.9%0.84−46.0%—0.110.19%
92
HURNHuron Consulting Group Inc. · Consulting Services
Whole market+29.7%40.7%0.84−51.4%+221%0.06—
93
VCTRVictory Capital Holdings, Inc. · Asset Management
Same or nearby category+28.1%35.0%0.89−45.2%—0.03—
94
DCODucommun Incorporated · Aerospace & Defense
Whole market+27.5%34.5%0.88−70.8%+706%0.11—
95
BPOPPopular, Inc. · Regional Banks
Same or nearby category+17.7%29.7%0.70−59.0%+448%0.24—
96
BHEBenchmark Electronics, Inc. · Hardware, Equipment & Parts
Whole market+24.9%37.3%0.78−60.3%+243%0.07—
97
ETREntergy Corporation · Electric Utilities
Whole market+19.2%22.4%0.90−42.0%+311%0.05—
98
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Whole market+19.7%23.2%0.90−48.8%+292%0.19—
99
VIRTVirtu Financial, Inc. · Capital Markets
Same or nearby category+20.8%33.8%0.73−56.2%+545%0.21—
100
CNXNPC Connection, Inc. · Technology Distributors
Whole market+15.8%29.2%0.65−41.8%+277%0.21—

BBDO against its popular alternatives

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

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

Green points earned more than BBDO 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 volatilityBBDO: 9.9% a year, volatility 43.1%SPY (S&P 500): 12.7% a year, volatility 17.1%CIB: 32.9% a year, volatility 32.9%BAP: 30.8% a year, volatility 30.3%ITUB: 26.3% a year, volatility 33.8%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%EWZ: 14.9% a year, volatility 27.7%BBD: 11.1% a year, volatility 39.3%AVAL: 8.7% a year, volatility 43.2%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%BMA: 35.7% a year, volatility 59.3%BBAR: 32.5% a year, volatility 64.8%SUPV: 24.1% a year, volatility 71.2%BSBR: −0.5% a year, volatility 34.4%BBDOSPY (S&P 500)CIBBAPITUBBLXBCHBSACEWZBBDAVALXPPAGSSTNEGGALBMABBARSUPVBSBR0.0%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 volatilityBBDO: 9.9% a year, volatility 43.1%SPY (S&P 500): 12.7% a year, volatility 17.1%CIB: 32.9% a year, volatility 32.9%BAP: 30.8% a year, volatility 30.3%ITUB: 26.3% a year, volatility 33.8%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%EWZ: 14.9% a year, volatility 27.7%BBD: 11.1% a year, volatility 39.3%AVAL: 8.7% a year, volatility 43.2%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%BMA: 35.7% a year, volatility 59.3%BBAR: 32.5% a year, volatility 64.8%SUPV: 24.1% a year, volatility 71.2%BSBR: −0.5% a year, volatility 34.4%BBDOSPY (S&P 500)CIBBAPITUBBCHBSACAVALXPPAGSGGALBMASUPVBSBR
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 Banco Bradesco S.A.+11.1%39.3%
BBDO This pageBanco Bradesco S.A.+9.9%43.1%
AVAL Grupo Aval Acciones y Valores S.A.+8.7%43.2%
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 BBDO consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than BBDO 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
BBDO Banco Bradesco S.A. (this page)—+16.0%+20.6%+3.7%+36.2%+37.2%+94.2%+60.4%−21.0%43.1%0.44−76.5%—$41B—
CIB QualifiedGrupo Cibest S.A.3/5 short3/3 long0.0%+20.5%+32.5%+59.5%+81.1%+398%+314%+345%32.9%1.03−70.4%—$23B—
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—
ITUB BanksItaú Unibanco Holding S.A.2/5 short3/3 long+14.8%+16.7%+5.8%+37.2%+46.3%+147%+221%+190%33.8%0.86−62.1%—$107B—
SAN Banks - DiversifiedBanco Santander, S.A.1/5 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.0/5 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—
BMA Banks - RegionalBanco Macro S.A.0/5 short3/3 long−15.8%−30.1%−22.1%−25.9%+25.7%+297%+360%+14.9%59.3%0.81−91.7%—$4.0B—
BBAR Banks - RegionalBanco BBVA Argentina S.A.0/5 short3/3 long−12.5%−35.9%−24.8%−29.0%+35.7%+283%+309%−13.5%64.8%0.75−91.6%—$2.6B—
EWZ InternationaliShares MSCI Brazil ETF2/5 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—
BBD Banks - RegionalBanco Bradesco S.A.1/5 short2/3 long+18.3%+15.9%+1.7%+29.1%+31.6%+90.7%+69.3%+35.5%39.3%0.47−67.7%—$43B—
AVAL Banks - RegionalGrupo Aval Acciones y Valores S.A.0/5 short2/3 long−4.3%−1.0%+3.0%+23.8%+34.4%+138%+51.7%+34.8%43.2%0.40−62.1%—$5.7B—
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—
BSBR Banks - RegionalBanco Santander (Brasil) S.A.0/5 short1/3 long−4.4%+6.0%−10.8%−6.8%+6.6%+18.6%−2.6%−1.2%34.4%0.16−70.6%—$42B—
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—
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 BBDO do year by year?

This table shows each investment's total return in every full calendar year since 2013, along with where BBDO ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with BBDO and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: BBDO began trading on March 13, 2012, so the table starts with 2013, its first full calendar year, and cannot show how it fared during the dot-com bust, the 2008 financial crisis or two other sell-offs.

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

InvestmentYears ahead of BBDO2025202420232022202120202019201820172016201520142013
BBDO This pageBanco Bradesco S.A.—+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%
Rank among alternativesTop quarter in 1 of 137 of 2117 of 2113 of 2115 of 2017 of 1918 of 197 of 188 of 1615 of 163 of 1514 of 1510 of 146 of 14
SPY S&P 500State Street SPDR S&P 500 ETF8 of 13+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%
CIB Grupo Cibest S.A.10 of 13+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%
BAP Credicorp Ltd.8 of 13+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%
ITUB Itaú Unibanco Holding S.A.9 of 13+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%
SAN Banco Santander, S.A.10 of 13+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%
BLX Bladex, Inc.9 of 13+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%
BCH Banco de Chile6 of 13+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%
BSAC Banco Santander-Chile7 of 13+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%
GGAL Grupo Financiero Galicia S.A.8 of 13−11.4%+289%+92.3%+7.3%+9.5%−45.6%−40.4%−57.9%+145%−0.3%+70.8%+52.5%+58.8%
BMA Banco Macro S.A.8 of 13−3.6%+266%+84.9%+26.5%−10.0%−57.0%−14.1%−60.7%+81.5%+12.2%+32.9%+86.4%+33.8%
BBAR Banco BBVA Argentina S.A.9 of 13−4.1%+316%+47.3%+34.2%−1.8%−42.3%−49.2%−54.5%+47.0%−6.5%+38.3%+98.7%+38.3%
EWZ iShares MSCI Brazil ETF8 of 13+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%
BBD Banco Bradesco S.A.8 of 13+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%
AVAL Grupo Aval Acciones y Valores S.A.7 of 11+109%−11.3%+4.4%−25.9%−22.2%−16.6%+53.4%−27.4%+11.8%+27.0%−31.4%——
SUPV Grupo Supervielle S.A.6 of 9−20.8%+281%+87.6%+11.2%−7.4%−41.7%−57.1%−70.2%+124%————
BSBR Banco Santander (Brasil) S.A.6 of 13+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%
XP XP Inc.3 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.4 of 7+85.7%−55.8%+90.9%−44.0%−79.9%+110%+116%——————
NU Nu Holdings Ltd.2 of 4+61.6%+24.4%+105%−56.6%—————————
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Risk and diversification

How BBDO 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 BBDO's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents BBDO's five deepest drawdowns since it began trading in 2012, 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.

Note: BBDO began trading on March 13, 2012, so this list cannot include the dot-com bust, the 2008 financial crisis or two other sell-offs. The crash tests on this page show how older funds and the S&P 500 fared through those years.

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

DuringBBDO fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2022 bear market−76.8%+250%Sep 2014Dec 202410.3 yearsNot yet—
No named crash−37.9%+4.3%Apr 2013Aug 20134 monthsAug 201412 months
No named crash−27.5%−7.5%Mar 2012May 20122 monthsDec 20127 months
No named crash−9.5%+0.5%Dec 2012Dec 2012Under a monthJan 20131 month
No named crash−7.7%+1.9%Dec 2012Dec 2012Under a monthDec 2012Under a month

How did BBDO do in stock market crashes?

This section measures how far BBDO, 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: BBDO began trading on March 13, 2012, so its row reads "Not yet trading" for the dot-com bust, the 2008 financial crisis or two other sell-offs. 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 BBDO.

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
BBDO This pageBanco Bradesco S.A.—−6.8%−36.3%−55.6%−9.3%−8.8%−44.1%Not yet tradingNot yet tradingNot yet tradingNot yet trading
SPY S&P 500State Street SPDR S&P 500 ETF5 of 6−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
CIB Grupo Cibest S.A.2 of 6−9.8%−44.6%−70.1%−15.3%−4.8%−38.7%−17.7%−1.7%−63.4%−75.1%
BAP Credicorp Ltd.6 of 6−4.7%−33.3%−38.3%−7.3%−6.7%−33.9%−16.0%−2.8%−64.9%−55.6%
ITUB Itaú Unibanco Holding S.A.5 of 6−8.1%−31.5%−46.3%−7.5%−5.8%−32.4%−30.1%−0.7%−69.2%—
SAN Banco Santander, S.A.2 of 6−11.4%−41.0%−48.1%−19.0%−6.0%−44.7%−33.2%−0.9%−76.1%−58.4%
BLX Bladex, Inc.5 of 6−3.8%−23.9%−48.4%−26.7%−4.6%−27.8%−19.7%−2.5%−63.2%−94.3%
BCH Banco de Chile5 of 6−2.1%−27.0%−29.8%−10.5%−2.7%−15.2%−25.4%−1.4%−57.6%−37.3%
BSAC Banco Santander-Chile4 of 6−6.0%−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 6−14.5%−44.7%−58.1%−27.3%−8.5%−22.1%−47.8%−1.5%−82.4%—
BMA Banco Macro S.A.2 of 6−11.1%−41.2%−55.7%−26.4%−6.3%−27.9%−48.1%−0.5%−77.5%—
BBAR Banco BBVA Argentina S.A.2 of 6−16.6%−41.8%−50.5%−23.9%−8.5%−30.1%−47.1%0.0%−80.2%−95.7%
EWZ iShares MSCI Brazil ETF5 of 6−5.6%−32.2%−52.6%−10.6%−6.3%−36.9%−29.1%−0.7%−73.0%—
BBD Banco Bradesco S.A.4 of 6−6.9%−30.2%−54.5%−7.6%−6.3%−44.3%−25.1%−0.8%−69.0%—
AVAL Grupo Aval Acciones y Valores S.A.3 of 6−4.2%−53.4%−61.9%−28.0%−4.5%−29.1%————
SUPV Grupo Supervielle S.A.2 of 5−12.1%−39.8%−54.4%−29.4%−7.0%—————
BSBR Banco Santander (Brasil) S.A.3 of 6−8.6%−37.6%−50.4%−13.9%−6.2%−31.4%−30.5%−4.0%——
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%———————
NU Nu Holdings Ltd.0 of 2−10.0%−67.5%————————
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How closely does BBDO 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 BBDO 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 BBDO's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
BBDO This pageBanco Bradesco S.A.54%125%0.430.84
BCH Banco de Chile45%19%2.410.36
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
BBD Banco Bradesco S.A.62%103%0.600.72
AVAL Grupo Aval Acciones y Valores S.A.89%156%0.571.03
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
SUPV Grupo Supervielle S.A.95%224%0.421.51
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What diversifies BBDO?

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 BBDO's. Because such investments tend not to fall at the same time, pairing BBDO 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 BBDO lost money. The last two columns show a portfolio that is 80% BBDO and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe202420222021202020182015201480/20 mix volatility80/20 mix annual return
BBDO Banco Bradesco S.A. (this page)1.00+60.4%0.44−40.2%−8.5%−34.6%−45.6%−3.0%−49.0%−4.0%39.1%+6.0%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.32+119%1.48+15.9%+3.8%+17.8%−9.0%−5.2%——31.9%+9.2%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.08+225%1.34+29.8%+6.0%+18.0%+3.9%−19.8%+7.7%+8.1%31.6%+11.3%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.28+101%1.04+33.4%+10.4%+23.1%−13.4%−8.7%−25.3%+23.8%32.2%+9.0%
HDV Dividend & IncomeiShares Core High Dividend ETF0.35+83.3%1.00+14.1%+7.1%+19.6%−6.5%−3.0%−0.3%+12.6%32.4%+8.3%
SMH TechnologyVanEck Semiconductor ETF0.08+323%0.97+39.1%−33.5%+42.1%+55.5%−9.1%−0.3%+30.2%32.6%+13.8%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.19+85.0%0.96+13.4%−5.1%+19.6%+2.1%−9.5%+4.1%+3.4%31.8%+8.7%
GLD CommoditiesSPDR Gold Shares0.17+126%0.96+26.7%−0.8%−4.2%+24.8%−1.9%−10.7%−2.2%32.0%+9.7%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.11+136%0.93+45.8%−10.4%+22.7%+28.2%−0.9%——32.0%+10.4%

Stocks

InvestmentCorrelation5Y returnSharpe202420222021202020182015201480/20 mix volatility80/20 mix annual return
BBDO Banco Bradesco S.A. (this page)1.00+60.4%0.44−40.2%−8.5%−34.6%−45.6%−3.0%−49.0%−4.0%39.1%+6.0%
CAH Medical - DistributionCardinal Health, Inc.0.26+479%1.55+19.0%+54.1%−0.4%+10.1%−24.5%+12.6%+23.0%33.0%+13.2%
CLS Hardware, Equipment & PartsCelestica Inc.0.09+3,143%1.47+215%+1.3%+37.9%−2.4%−16.3%−6.0%+12.9%34.4%+25.8%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.08+1,636%1.46+107%+17.0%+89.0%+6.7%+0.8%+67.7%−10.4%33.2%+22.0%
MCK Medical - DistributionMcKesson Corporation0.15+413%1.44+23.7%+51.8%+44.2%+27.1%−28.4%−4.5%+29.3%32.4%+12.8%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.22+690%1.41−4.0%+86.6%+61.0%−27.4%−8.2%+17.4%+0.4%33.3%+15.2%
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Common questions

What was BBDO's worst drawdown?

BBDO's deepest decline since it began trading in 2012 was 76.8%, from September 2014 to December 2024. It has not yet climbed back to that peak. Because BBDO launched in March 2012, that record does not include the dot-com bust, the 2008 financial crisis or two other sell-offs.

What were BBDO's best and worst years?

Over 13 full calendar years, BBDO's best year was 2016, when it returned 81.6%. Its worst was 2015, with a return of -49.0%.

Is there a better investment than BBDO?

Among BBDO's popular alternatives, ITUB, BAP and CIB earned more than BBDO with less volatility over the past 5 years. ITUB returned 26.3% a year at 33.8% volatility, against 9.9% a year at 43.1%. Looking beyond its popular alternatives, RY (banks) and MUFG (banks) earned more than BBDO with less volatility over the past 5 years. RY returned 17.3% a year at 18.2% volatility, against 9.9% a year at 43.1%.

Is BBDO more volatile than the S&P 500?

Yes. BBDO's volatility over the past 5 years was 43.1%, 2.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BBDO's return lands within 43.1% 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 BBDO's Sharpe ratio?

BBDO's Sharpe ratio over the past 5 years was 0.44, against 0.79 for the S&P 500, so BBDO 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 BBDO with the S&P 500?

Over the past 5 years, BBDO's monthly returns had a correlation of 0.22 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against BBDO instead: the lower it is, the more that option would diversify a BBDO holding.

What are the best alternatives to BBDO?

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

Did BBDO outperform the S&P 500?

BBDO finished ahead of the S&P 500 (SPY) in five of 13 full calendar years. In 2025, it returned +79.3%, against +17.7% for the index.

How did BBDO do in stock market crashes?

BBDO fell less than the S&P 500 (SPY) in one of the six major crashes it has traded through, and further in five. The clearest case was the 2015 China and oil sell-off, when BBDO fell 44.1% and the S&P 500 fell 12.8%.

What diversifies BBDO?

These had a low correlation with BBDO over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.32), DXJ (correlation 0.08) and EMLP (correlation 0.28); among large stocks, CAH (correlation 0.26), CLS (correlation 0.09) and FIX (correlation 0.08). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to BBDO

Other stocks and ETFs