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Relative Intelligence · Travel Services

How Booking (BKNG) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on BKNG alone. It places BKNG (Booking Holdings Inc.) against 17 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 BKNG stands in the market, and of the alternatives worth a closer look.

Period covered: BKNG's full trading record, from March 1999 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

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

Rank the market against BKNG →Chart BKNG vs. 17 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in BKNG over the past 27 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of BKNG over the same span and BKNG'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 1999 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. 565 of the 1,166 stocks and funds worth at least $500 million that traded the whole period ended ahead of BKNG; the chart shows 5, closest alternatives first. The other 2 lines are popular alternatives, shown for context.

$1,000$10,000$100,000199920042009201420192024$1,000$10,000$100,0001999200620132020
  • RY$500,230+4,902% total · +15.6% a year
  • LLY$364,989+3,550% total · +14.3% a year
  • MAR$299,361+2,894% total · +13.4% a year
  • CHH$218,640+2,086% total · +12.1% a year
  • BRK-B$134,141+1,241% total · +10.1% a year
  • BKNG$107,744+977% total · +9.2% a year
  • SPY (S&P 500)$95,018+850% total · +8.7% a year
  • RCL$85,956+760% total · +8.3% a year
  • CCL$9,360−6.4% total · −0.2% 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. 1,124 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of BKNG; 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$10,000$20,000$30,000$40,000$50,000202120222023202420252026
  • RCL$30,918+209% total · +25.3% a year
  • GOOG$25,811+158% total · +20.9% a year
  • MAR$25,049+150% total · +20.2% a year
  • HLT$24,416+144% total · +19.5% a year
  • DAL$20,290+103% total · +15.2% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • BKNG$17,565+75.6% total · +11.9% a year
  • V$16,755+67.5% total · +10.9% a year
  • EXPE$16,292+62.9% total · +10.3% a year
  • TNL$13,847+38.5% total · +6.7% a year
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BKNG 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
$123B
Industry
Travel Services
Price history from
March 1999

Returns

Past 1 year
−19.6%total return
Past 3 years
+52.2%+15.0% a year
Past 5 years
+75.9%+12.0% a year
Past 10 years
+186%+11.1% a year
Best calendar year
+345%2001
Worst calendar year
−97.2%2000
Losing years
7 of 26full calendar years

Risk

Volatility
33.2%typical yearly swing, 5 years
Sharpe ratio
0.51return per unit of risk, 5 years
Worst decline ever
−99.3%Apr 1999 to Oct 2002
From its all-time high
−28.8%below the peak

BKNG against the whole market

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

How does BKNG rank among all stocks?

This section ranks BKNG 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 BKNG 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.

MeasureBKNGRankStanding
1-year return−19.6%2,624 of 3,287bottom 21%
3-year return+52.2%1,508 of 3,017top 50%
5-year return+75.9%851 of 2,893top 29%
10-year return+186%923 of 2,202top 42%
Volatility, 5 years33.2%1,009 of 2,893top 35%
Sharpe ratio, 5 years0.51907 of 2,893top 31%
Worst decline, past 10 years−47.8%371 of 2,187top 17%

What has beaten BKNG 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). BKNG sits where the dashed lines cross. Anything in the green box above and to the left earned more than BKNG 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 BKNG; faint dots are 93 more of the 368 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.

0.0%10.0%20.0%30.0%40.0%50.0%60.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than BKNGNVS: +17.1% a year, volatility 20.7%AMGN: +19.6% a year, volatility 24.9%TT: +22.7% a year, volatility 27.7%RSG: +13.9% a year, volatility 18.5%ORLY: +15.9% a year, volatility 23.4%FAST: +15.8% a year, volatility 24.6%IRM: +24.6% a year, volatility 30.3%CASY: +29.9% a year, volatility 29.3%AAPL: +18.5% a year, volatility 28.0%ATO: +14.9% a year, volatility 18.4%RNR: +20.1% a year, volatility 27.8%EWT: +20.4% a year, volatility 24.2%DBEF: +13.1% a year, volatility 13.8%IOO: +15.7% a year, volatility 17.2%FDL: +13.9% a year, volatility 14.4%WMT: +20.8% a year, volatility 22.6%THG: +14.4% a year, volatility 22.9%RECS: +13.4% a year, volatility 16.4%NHC: +32.0% a year, volatility 28.5%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%QQQ: +14.5% a year, volatility 23.0%MCK: +38.7% a year, volatility 25.0%GLTR: +14.9% a year, volatility 24.6%CHCO: +15.9% a year, volatility 22.8%GILD: +22.8% a year, volatility 24.9%TD: +15.8% a year, volatility 20.0%BFC: +19.0% a year, volatility 27.3%TJX: +19.9% a year, volatility 22.3%IBM: +16.6% a year, volatility 30.5%VGT: +18.4% a year, volatility 26.0%ABBV: +26.1% a year, volatility 23.4%PGR: +21.3% a year, volatility 25.6%CB: +15.7% a year, volatility 20.4%VRTX: +22.6% a year, volatility 29.1%EQL: +13.5% a year, volatility 14.5%HSBC: +33.1% a year, volatility 25.9%DGT: +13.8% a year, volatility 15.1%COR: +24.2% a year, volatility 22.8%IDOG: +14.1% a year, volatility 15.6%GWW: +26.3% a year, volatility 24.9%MNST: +17.2% a year, volatility 24.9%NXTG: +16.2% a year, volatility 19.1%MSI: +14.8% a year, volatility 23.6%MRK: +16.3% a year, volatility 24.8%ETR: +19.2% a year, volatility 22.4%ALL: +17.0% a year, volatility 26.2%PCAR: +17.9% a year, volatility 26.1%SCHG: +13.1% a year, volatility 22.4%AME: +14.4% a year, volatility 22.1%DYNF: +14.7% a year, volatility 17.5%IX: +17.9% a year, volatility 25.4%SPMO: +18.7% a year, volatility 20.8%DFIV: +14.8% a year, volatility 16.4%RS: +24.8% a year, volatility 28.1%AVLV: +14.0% a year, volatility 16.9%HUBB: +21.0% a year, volatility 30.0%DE: +14.4% a year, volatility 29.9%PVAL: +16.1% a year, volatility 15.1%TRV: +22.4% a year, volatility 22.3%NI: +15.1% a year, volatility 20.3%PKG: +15.4% a year, volatility 25.8%DTM: +24.5% a year, volatility 25.2%RWL: +13.7% a year, volatility 14.4%CIBR: +14.1% a year, volatility 26.1%FDVV: +13.2% a year, volatility 14.6%MUSA: +26.1% a year, volatility 31.2%EHC: +18.4% a year, volatility 26.8%PNW: +13.4% a year, volatility 19.9%JQUA: +13.6% a year, volatility 15.7%VLUE: +15.9% a year, volatility 18.4%LECO: +14.1% a year, volatility 27.5%MSGS: +18.4% a year, volatility 25.6%NEU: +21.0% a year, volatility 26.8%ACT: +20.5% a year, volatility 24.3%FLTW: +21.8% a year, volatility 24.3%QTUM: +22.8% a year, volatility 28.1%USMC: +14.1% a year, volatility 16.4%RSPT: +16.9% a year, volatility 25.1%GCOW: +14.1% a year, volatility 13.6%TDIV: +16.2% a year, volatility 21.3%MPLX: +23.5% a year, volatility 18.8%IDMO: +13.3% a year, volatility 18.2%GARP: +17.5% a year, volatility 22.5%FRDM: +17.3% a year, volatility 22.8%SPUS: +15.0% a year, volatility 19.5%WTV: +13.4% a year, volatility 17.0%DIVI: +13.4% a year, volatility 15.5%DIVB: +13.9% a year, volatility 15.4%PWV: +13.5% a year, volatility 14.2%CNXN: +15.8% a year, volatility 29.2%FFLC: +15.7% a year, volatility 16.8%BKNG: +12.0% a year, volatility 33.2%SPY (S&P 500): +12.7% a year, volatility 17.1%V: +12.8% a year, volatility 22.9%MAR: +22.0% a year, volatility 28.6%HLT: +21.0% a year, volatility 26.8%GOOG: +19.0% a year, volatility 32.0%RCL: +28.8% a year, volatility 48.4%DAL: +14.6% a year, volatility 40.8%MA: +12.4% a year, volatility 23.8%IHG: +21.4% a year, volatility 26.6%H: +16.6% a year, volatility 34.3%CPA: +15.1% a year, volatility 36.1%UAL: +16.3% a year, volatility 49.0%HTHT: +2.0% a year, volatility 49.6%RY: +17.3% a year, volatility 18.2%BRK-B: +13.4% a year, volatility 17.1%KO: +14.7% a year, volatility 16.8%CSCO: +16.8% a year, volatility 26.1%GLD: +17.7% a year, volatility 18.9%FNDF: +13.6% a year, volatility 16.3%LLY: +40.7% a year, volatility 32.8%JNJ: +12.7% a year, volatility 17.9%CAH: +42.1% a year, volatility 24.7%BKNGSPY (S&P 500)MARHLTGOOGRCLDALHCPAUALHTHTRYBRK-BKOCSCOGLDLLYCAH0.0%10.0%20.0%30.0%40.0%50.0%60.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than BKNGNVS: +17.1% a year, volatility 20.7%AMGN: +19.6% a year, volatility 24.9%TT: +22.7% a year, volatility 27.7%RSG: +13.9% a year, volatility 18.5%ORLY: +15.9% a year, volatility 23.4%FAST: +15.8% a year, volatility 24.6%IRM: +24.6% a year, volatility 30.3%CASY: +29.9% a year, volatility 29.3%AAPL: +18.5% a year, volatility 28.0%ATO: +14.9% a year, volatility 18.4%RNR: +20.1% a year, volatility 27.8%EWT: +20.4% a year, volatility 24.2%DBEF: +13.1% a year, volatility 13.8%IOO: +15.7% a year, volatility 17.2%FDL: +13.9% a year, volatility 14.4%WMT: +20.8% a year, volatility 22.6%THG: +14.4% a year, volatility 22.9%RECS: +13.4% a year, volatility 16.4%NHC: +32.0% a year, volatility 28.5%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%QQQ: +14.5% a year, volatility 23.0%MCK: +38.7% a year, volatility 25.0%GLTR: +14.9% a year, volatility 24.6%CHCO: +15.9% a year, volatility 22.8%GILD: +22.8% a year, volatility 24.9%TD: +15.8% a year, volatility 20.0%BFC: +19.0% a year, volatility 27.3%TJX: +19.9% a year, volatility 22.3%IBM: +16.6% a year, volatility 30.5%VGT: +18.4% a year, volatility 26.0%ABBV: +26.1% a year, volatility 23.4%PGR: +21.3% a year, volatility 25.6%CB: +15.7% a year, volatility 20.4%VRTX: +22.6% a year, volatility 29.1%EQL: +13.5% a year, volatility 14.5%HSBC: +33.1% a year, volatility 25.9%DGT: +13.8% a year, volatility 15.1%COR: +24.2% a year, volatility 22.8%IDOG: +14.1% a year, volatility 15.6%GWW: +26.3% a year, volatility 24.9%MNST: +17.2% a year, volatility 24.9%NXTG: +16.2% a year, volatility 19.1%MSI: +14.8% a year, volatility 23.6%MRK: +16.3% a year, volatility 24.8%ETR: +19.2% a year, volatility 22.4%ALL: +17.0% a year, volatility 26.2%PCAR: +17.9% a year, volatility 26.1%SCHG: +13.1% a year, volatility 22.4%AME: +14.4% a year, volatility 22.1%DYNF: +14.7% a year, volatility 17.5%IX: +17.9% a year, volatility 25.4%SPMO: +18.7% a year, volatility 20.8%DFIV: +14.8% a year, volatility 16.4%RS: +24.8% a year, volatility 28.1%AVLV: +14.0% a year, volatility 16.9%HUBB: +21.0% a year, volatility 30.0%DE: +14.4% a year, volatility 29.9%PVAL: +16.1% a year, volatility 15.1%TRV: +22.4% a year, volatility 22.3%NI: +15.1% a year, volatility 20.3%PKG: +15.4% a year, volatility 25.8%DTM: +24.5% a year, volatility 25.2%RWL: +13.7% a year, volatility 14.4%CIBR: +14.1% a year, volatility 26.1%FDVV: +13.2% a year, volatility 14.6%MUSA: +26.1% a year, volatility 31.2%EHC: +18.4% a year, volatility 26.8%PNW: +13.4% a year, volatility 19.9%JQUA: +13.6% a year, volatility 15.7%VLUE: +15.9% a year, volatility 18.4%LECO: +14.1% a year, volatility 27.5%MSGS: +18.4% a year, volatility 25.6%NEU: +21.0% a year, volatility 26.8%ACT: +20.5% a year, volatility 24.3%FLTW: +21.8% a year, volatility 24.3%QTUM: +22.8% a year, volatility 28.1%USMC: +14.1% a year, volatility 16.4%RSPT: +16.9% a year, volatility 25.1%GCOW: +14.1% a year, volatility 13.6%TDIV: +16.2% a year, volatility 21.3%MPLX: +23.5% a year, volatility 18.8%IDMO: +13.3% a year, volatility 18.2%GARP: +17.5% a year, volatility 22.5%FRDM: +17.3% a year, volatility 22.8%SPUS: +15.0% a year, volatility 19.5%WTV: +13.4% a year, volatility 17.0%DIVI: +13.4% a year, volatility 15.5%DIVB: +13.9% a year, volatility 15.4%PWV: +13.5% a year, volatility 14.2%CNXN: +15.8% a year, volatility 29.2%FFLC: +15.7% a year, volatility 16.8%BKNG: +12.0% a year, volatility 33.2%SPY (S&P 500): +12.7% a year, volatility 17.1%V: +12.8% a year, volatility 22.9%MAR: +22.0% a year, volatility 28.6%HLT: +21.0% a year, volatility 26.8%GOOG: +19.0% a year, volatility 32.0%RCL: +28.8% a year, volatility 48.4%DAL: +14.6% a year, volatility 40.8%MA: +12.4% a year, volatility 23.8%IHG: +21.4% a year, volatility 26.6%H: +16.6% a year, volatility 34.3%CPA: +15.1% a year, volatility 36.1%UAL: +16.3% a year, volatility 49.0%HTHT: +2.0% a year, volatility 49.6%RY: +17.3% a year, volatility 18.2%BRK-B: +13.4% a year, volatility 17.1%KO: +14.7% a year, volatility 16.8%CSCO: +16.8% a year, volatility 26.1%GLD: +17.7% a year, volatility 18.9%FNDF: +13.6% a year, volatility 16.3%LLY: +40.7% a year, volatility 32.8%JNJ: +12.7% a year, volatility 17.9%CAH: +42.1% a year, volatility 24.7%BKNGSPY (S&P 500)MARHLTGOOGRCLDALHCPAUALHTHTRYBRK-BGLDLLYCAH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than BKNG?

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

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

Screen the whole market against BKNG 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 BKNG?lower diversifies moreExpenseper year
BKNGBooking Holdings Inc. · this page
+12.0%33.2%0.51−47.8%+186%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.580.09%
Popular alternativesbest 6 shownThe investments people most often weigh against BKNG. 8 of 17 passed at least one test.
VVisa Inc. · Payment Processing
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.8%22.9%0.64−36.4%+429%0.68—
MARMarriott International, Inc. · Hotels & Resorts
Higher return, lower volatilityHigher return in most periods+22.0%28.6%0.84−61.3%+544%0.56—
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Higher return, lower volatilityHigher return in most periods+21.0%26.8%0.85−50.8%+694%0.59—
GOOGAlphabet Inc. · Internet Services
Higher return, similar volatilityHigher return in most periods+19.0%32.0%0.71−44.6%+752%0.19—
RCLRoyal Caribbean Cruises Ltd. · Cruise Lines
Higher return in most periods+28.8%48.4%0.77−83.3%+359%0.61—
DALDelta Air Lines, Inc. · Airlines
Higher return in most periods+14.6%40.8%0.54−69.2%+109%0.48—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Travel Services and the categories next to it (Hotels & Resorts, Cruise Lines, Payment Processing, Airlines), plus BKNG's specific themes. 6 of 19 passed at least one test.
MAMastercard Incorporated · Payment Processing
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.4%23.8%0.61−41.0%+541%0.72—
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Higher return, lower volatilityHigher return in most periods+21.4%26.6%0.86−59.3%+383%0.62—
HHyatt Hotels Corporation · Hotels & Resorts
Higher return, similar volatilityHigher return in most periods+16.6%34.3%0.62−60.5%+260%0.47—
CPACopa Holdings, S.A. · Airlines
Higher return, similar volatilityHigher return in most periods+15.1%36.1%0.57−78.9%+94.5%0.35—
UALUnited Airlines Holdings, Inc. · Airlines
Higher return in most periods+16.3%49.0%0.55−79.4%+72.8%0.47—
HTHTH World Group Limited · Hotels & Resorts
Higher return in most periods+2.0%49.6%0.28−64.0%+393%0.07—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,083 of 3,597 passed at least one test.
RYRoyal Bank of Canada · Banks
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+17.3%18.2%0.97−40.0%+352%0.59—
BRK-BBerkshire Hathaway Inc. · Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+13.4%17.1%0.82−29.6%+274%0.44—
KOThe Coca-Cola Company · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+14.7%16.8%0.91−37.0%+204%0.18—
CSCOCisco Systems, Inc. · Communications Equipment
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+16.8%26.1%0.73−42.0%+374%0.31—
GLDSPDR Gold Shares · Gold
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+17.7%18.9%0.96−26.4%+213%0.000.40%
FNDFSchwab Fundamental International Large Company Index ETF · International Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+13.6%16.3%0.87−40.2%+194%0.520.25%
LLYEli Lilly and Company · Pharmaceuticals
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%0.05—
JNJJohnson & Johnson · Pharmaceuticals
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+12.7%17.9%0.76−27.4%+196%0.06—
What these numbers mean for BKNG
Annual return
BKNG returned 12.0% 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 $17,600. 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
BKNG's volatility over the past 5 years was 33.2%, about twice the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BKNG's return lands within 33.2% 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
BKNG's Sharpe ratio over the past 5 years was 0.51, against 0.79 for the S&P 500, so BKNG 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
BKNG's worst fall from a peak to a low over the past 10 years was 47.8%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 47.8% fall takes a 91.5% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, BKNG's monthly returns had a correlation of 0.58 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against BKNG instead: the lower it is, the more that option would diversify a BKNG holding. Guide: Correlation and diversification →
Show all 368 stocks and funds worth at least $500 million that earned more than BKNG 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 BKNGExpense
1
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.59—
2
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.44—
3
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.18—
4
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.31—
5
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.28—
6
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%0.20—
7
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.000.40%
8
TTTrane Technologies plc · Building Products
Whole market+22.7%27.7%0.88−40.5%+955%0.41—
9
RSGRepublic Services, Inc. · Environmental Services
Whole market+13.9%18.5%0.80−34.0%+446%0.28—
10
ORLYO'Reilly Automotive, Inc. · Specialty Retail
Whole market+15.9%23.4%0.75−42.0%+393%0.17—
11
FASTFastenal Company · Industrial Distribution
Whole market+15.8%24.6%0.72−30.7%+576%0.36—
12
IRMIron Mountain Incorporated · Specialty REITs
Whole market+24.6%30.3%0.88−39.0%+470%0.32—
13
CASYCasey's General Stores, Inc. · Convenience Stores
Whole market+29.9%29.3%1.04−36.1%+537%0.28—
14
AAPLApple Inc. · Computer Hardware
Whole market+18.5%28.0%0.75−38.5%+1,168%0.33—
15
ATOAtmos Energy Corporation · Gas Utilities
Whole market+14.9%18.4%0.85−32.9%+194%0.37—
16
FNDFSchwab Fundamental International Large Company Index ETF · International Equity
Whole market+13.6%16.3%0.87−40.2%+194%0.520.25%
17
RNRRenaissanceRe Holdings Ltd. · Insurance
Whole market+20.1%27.8%0.80−40.7%+215%0.14—
18
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+20.4%24.2%0.89−38.9%+468%0.280.59%
19
DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity
Whole market+13.1%13.8%0.96−32.5%+206%0.540.35%
20
IOOiShares Global 100 ETF · Global Equity
Whole market+15.7%17.2%0.94−31.4%+361%0.540.40%
21
FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity
Whole market+13.9%14.4%0.98−41.4%+199%0.540.43%
22
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.33—
23
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance
Whole market+14.4%22.9%0.70−40.1%+291%0.24—
24
RECSColumbia Research Enhanced Core ETF · US Large-Cap Equity
Whole market+13.4%16.4%0.85−34.3%+237%0.630.15%
25
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.14—
26
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.230.48%
27
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.460.40%
28
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.37—
29
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.5%23.0%0.71−35.1%+553%0.450.18%
30
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.08—
31
GLTRabrdn Physical Precious Metals Basket Shares ETF · Alternatives
Whole market+14.9%24.6%0.69−37.9%+191%0.020.60%
32
CHCOCity Holding Company · Banks - Regional
Whole market+15.9%22.8%0.77−32.3%+286%0.40—
33
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.16—
34
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.38—
35
BFCBank First Corporation · Banks - Regional
Whole market+19.0%27.3%0.78−39.8%+496%0.15—
36
TJXThe TJX Companies, Inc. · Specialty Retail
Whole market+19.9%22.3%0.93−42.5%+361%0.38—
37
IBMInternational Business Machines Corporation · IT Services
Whole market+16.6%30.5%0.66−41.1%+151%0.22—
38
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.440.09%
39
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.13—
40
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%0.30—
41
CBChubb Limited · Property & Casualty Insurance
Whole market+15.7%20.4%0.82−42.6%+248%0.30—
42
VRTXVertex Pharmaceuticals Incorporated · Biotechnology
Whole market+22.6%29.1%0.85−41.6%+521%0.21—
43
EQLALPS Equal Sector Weight ETF · Broad Market
Whole market+13.5%14.5%0.94−34.2%+387%0.620.19%
44
HSBCHSBC Holdings plc · Banks
Whole market+33.1%25.9%1.24−62.3%+319%0.39—
45
DGTState Street SPDR Global Dow ETF · International
Whole market+13.8%15.1%0.94−34.4%+261%0.620.50%
46
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.28—
47
IDOGALPS International Sector Dividend Dogs ETF · International
Whole market+14.1%15.6%0.93−37.3%+180%0.550.50%
48
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.44—
49
MNSTMonster Beverage Corporation · Food & Beverages
Whole market+17.2%24.9%0.77−30.4%+285%0.25—
50
NXTGFirst Trust Indxx NextG ETF · Technology
Whole market+16.2%19.1%0.89−33.6%+330%0.350.70%
51
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+14.8%23.6%0.71−32.8%+625%0.35—
52
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%0.07—
53
ETREntergy Corporation · Electric Utilities
Whole market+19.2%22.4%0.90−42.0%+311%0.29—
54
ALLThe Allstate Corporation · Property & Casualty Insurance
Whole market+17.0%26.2%0.73−41.4%+356%0.21—
55
PCARPACCAR Inc · Commercial Vehicles
Whole market+17.9%26.1%0.76−37.9%+314%0.54—
56
SCHGSchwab U.S. Large-Cap Growth ETF · US Large-Cap Growth
Whole market+13.1%22.4%0.67−34.5%+451%0.510.04%
57
AMEAMETEK, Inc. · Electronic Instruments
Whole market+14.4%22.1%0.72−42.7%+481%0.38—
58
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Whole market+14.7%17.5%0.87−34.7%—0.590.26%
59
IXORIX Corporation · Diversified Financials
Whole market+17.9%25.4%0.78−42.5%+284%0.26—
60
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%0.420.13%
61
DFIVDimensional - International Value ETF · International Equity
Whole market+14.8%16.4%0.93−25.4%—0.580.27%
62
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.93−40.8%+626%0.34—
63
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Whole market+14.0%16.9%0.86−19.5%—0.590.15%
64
HUBBHubbell Incorporated · Electrical Equipment
Whole market+21.0%30.0%0.79−41.6%+442%0.28—
65
DEDeere & Company · Industrial Machinery
Whole market+14.4%29.9%0.60−37.9%+755%0.33—
66
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Whole market+16.1%15.1%1.07−41.3%—0.590.56%
67
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.36—
68
NINiSource Inc · Gas Utilities
Whole market+15.1%20.3%0.80−30.9%+158%0.36—
69
PKGPackaging Corporation of America · Packaging
Whole market+15.4%25.8%0.69−38.2%+294%0.53—
70
DTMDT Midstream, Inc. · Oil & Gas Midstream
Whole market+24.5%25.2%1.00−23.6%—0.41—
71
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity
Whole market+13.7%14.4%0.97−36.1%+287%0.610.39%
72
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Whole market+14.1%26.1%0.64−33.9%+454%0.330.58%
73
FDVVFidelity High Dividend ETF · US Dividend Equity
Whole market+13.2%14.6%0.92−40.2%+253%0.640.15%
74
MUSAMurphy USA Inc. · Convenience Stores
Whole market+26.1%31.2%0.90−35.5%+706%0.20—
75
EHCEncompass Health Corporation · Health Care Facilities
Whole market+18.4%26.8%0.77−39.5%+340%0.39—
76
PNWPinnacle West Capital Corporation · Electric Utilities
Whole market+13.4%19.9%0.73−39.3%+103%0.25—
77
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Whole market+13.6%15.7%0.89−32.9%—0.600.12%
78
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+15.9%18.4%0.90−39.5%+286%0.450.15%
79
LECOLincoln Electric Holdings, Inc. · Industrial Machinery
Whole market+14.1%27.5%0.62−38.9%+389%0.38—
80
MSGSMadison Square Garden Sports Corp. · Entertainment
Whole market+18.4%25.6%0.79−41.6%+432%0.23—
81
NEUNewMarket Corporation · Specialty Chemicals
Whole market+21.0%26.8%0.85−40.7%+165%0.36—
82
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.21—
83
ACTEnact Holdings Inc. · Insurance
Whole market+20.5%24.3%0.89−20.2%—0.46—
84
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.270.19%
85
QTUMDefiance Quantum ETF · Technology
Whole market+22.8%28.1%0.87−38.5%—0.330.40%
86
USMCPrincipal U.S. Mega-Cap ETF · Broad Market
Whole market+14.1%16.4%0.89−30.0%—0.600.12%
87
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.9%25.1%0.75−33.7%+572%0.440.40%
88
GCOWPacer Global Cash Cows Dividend ETF · International
Whole market+14.1%13.6%1.04−37.6%+168%0.510.60%
89
TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity
Whole market+16.2%21.3%0.81−32.0%+388%0.490.50%
90
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.41—
91
IDMOInvesco S&P International Developed Momentum ETF · International Equity
Whole market+13.3%18.2%0.78−31.3%+229%0.590.25%
92
GARPiShares MSCI USA Quality GARP ETF · Broad Market
Whole market+17.5%22.5%0.83−31.4%—0.470.15%
93
FRDMFreedom 100 Emerging Markets ETF · International
Whole market+17.3%22.8%0.82−40.5%—0.320.49%
94
SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology
Whole market+15.0%19.5%0.82−30.8%—0.490.45%
95
WTVWisdomTree U.S. Value Fund · Broad Market
Whole market+13.4%17.0%0.83−42.2%+303%0.660.12%
96
DIVIFranklin International Core Dividend Tilt Index ETF · International
Whole market+13.4%15.5%0.89−27.7%+184%0.510.09%
97
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.620.05%
98
PWVInvesco Large Cap Value ETF · Broad Market
Whole market+13.5%14.2%0.97−37.6%+223%0.600.55%
99
CNXNPC Connection, Inc. · Technology Distributors
Whole market+15.8%29.2%0.65−41.8%+277%0.17—
100
FFLCFidelity Fundamental Large Cap Core ETF · Broad Market
Whole market+15.7%16.8%0.95−19.7%—0.600.38%

BKNG against its popular alternatives

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

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

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

15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%55.0%60.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityBKNG: 12.0% a year, volatility 33.2%SPY (S&P 500): 12.7% a year, volatility 17.1%HLT: 21.0% a year, volatility 26.8%MAR: 22.0% a year, volatility 28.6%V: 12.8% a year, volatility 22.9%GOOG: 19.0% a year, volatility 32.0%TNL: 9.3% a year, volatility 36.6%CCL: 4.2% a year, volatility 55.2%VAC: −3.0% a year, volatility 44.9%ABNB: 0.8% a year, volatility 44.3%HGV: −5.3% a year, volatility 39.0%MMYT: 8.9% a year, volatility 50.0%TCOM: 5.3% a year, volatility 48.7%TRIP: −22.9% a year, volatility 52.8%RCL: 28.8% a year, volatility 48.4%EXPE: 13.3% a year, volatility 46.5%DAL: 14.6% a year, volatility 40.8%CHH: −2.3% a year, volatility 30.1%WH: 1.0% a year, volatility 29.9%BKNGSPY (S&P 500)HLTMARGOOGTNLCCLVACABNBHGVMMYTTCOMTRIPRCLEXPEDALCHHWH10.0%20.0%30.0%40.0%50.0%60.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityBKNG: 12.0% a year, volatility 33.2%SPY (S&P 500): 12.7% a year, volatility 17.1%HLT: 21.0% a year, volatility 26.8%MAR: 22.0% a year, volatility 28.6%V: 12.8% a year, volatility 22.9%GOOG: 19.0% a year, volatility 32.0%TNL: 9.3% a year, volatility 36.6%CCL: 4.2% a year, volatility 55.2%VAC: −3.0% a year, volatility 44.9%ABNB: 0.8% a year, volatility 44.3%HGV: −5.3% a year, volatility 39.0%MMYT: 8.9% a year, volatility 50.0%TCOM: 5.3% a year, volatility 48.7%TRIP: −22.9% a year, volatility 52.8%RCL: 28.8% a year, volatility 48.4%EXPE: 13.3% a year, volatility 46.5%DAL: 14.6% a year, volatility 40.8%CHH: −2.3% a year, volatility 30.1%WH: 1.0% a year, volatility 29.9%BKNGSPY (S&P 500)HLTMARGOOGTNLCCLVACABNBHGVMMYTTCOMTRIPRCLEXPEDALCHHWH
All figures
InvestmentAnnual returnVolatility
RCL Royal Caribbean Cruises Ltd.+28.8%48.4%
MAR Marriott International, Inc.+22.0%28.6%
HLT Hilton Worldwide Holdings Inc.+21.0%26.8%
GOOG Alphabet Inc.+19.0%32.0%
DAL Delta Air Lines, Inc.+14.6%40.8%
EXPE Expedia Group, Inc.+13.3%46.5%
V Visa Inc.+12.8%22.9%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
BKNG This pageBooking Holdings Inc.+12.0%33.2%
TNL Travel + Leisure Co.+9.3%36.6%
MMYT MakeMyTrip Limited+8.9%50.0%
TCOM Trip.com Group Limited+5.3%48.7%
CCL Carnival Corporation & plc+4.2%55.2%
WH Wyndham Hotels & Resorts, Inc.+1.0%29.9%
ABNB Airbnb, Inc.+0.8%44.3%
CHH Choice Hotels International, Inc.−2.3%30.1%
VAC Marriott Vacations Worldwide Corporation−3.0%44.9%
HGV Hilton Grand Vacations Inc.−5.3%39.0%
TRIP Tripadvisor, Inc.−22.9%52.8%
Open these 19 in EasyCompare

Has BKNG consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than BKNG 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
BKNG Booking Holdings Inc. (this page)—−2.7%−8.4%−14.2%−22.5%−19.6%+52.2%+75.9%+186%33.2%0.51−47.8%—$123B—
HLT QualifiedHilton Worldwide Holdings Inc.5/5 short3/3 longAll-weather+17.0%+11.1%+4.9%+22.8%+37.9%+145%+160%+694%26.8%0.85−50.8%—$81B—
MAR QualifiedMarriott International, Inc.5/5 short3/3 longAll-weather+15.9%+8.5%+5.3%+27.5%+54.1%+117%+170%+544%28.6%0.84−61.3%—$104B—
V QualifiedVisa Inc.5/5 short3/3 longAll-weather+9.9%+13.0%+30.0%+18.0%+19.0%+78.2%+82.5%+429%22.9%0.64−36.4%—$759B—
RCL QualifiedRoyal Caribbean Cruises Ltd.5/5 short3/3 longAll-weather+15.0%+1.2%+3.1%+3.3%−3.1%+272%+255%+359%48.4%0.77−83.3%—$77B—
GOOG QualifiedAlphabet Inc.4/5 short3/3 longAll-weather−4.1%−4.2%+0.4%+6.9%+31.2%+148%+138%+752%32.0%0.71−44.6%—$4.1T—
TNL QualifiedTravel + Leisure Co.5/5 short2/3 long+6.5%−6.6%−11.7%−4.4%+15.4%+125%+55.8%+214%36.6%0.43−67.9%—$4.1B—
EXPE QualifiedExpedia Group, Inc.5/5 short2/3 long+7.0%+13.6%+10.5%+6.9%+38.8%+226%+86.3%+154%46.5%0.50−70.5%—$34B—
DAL QualifiedDelta Air Lines, Inc.3/5 short2/3 long−6.8%−9.1%+8.5%+12.2%+25.5%+146%+97.6%+109%40.8%0.54−69.2%—$50B—
CCL Travel ServicesCarnival Corporation & plc5/5 short1/3 long+21.3%+4.5%−5.6%−11.1%−4.7%+149%+22.6%−34.6%55.2%0.35−90.4%—$36B—
CHH Travel LodgingChoice Hotels International, Inc.5/5 short0/3 long+14.9%+3.5%−6.6%+19.0%+15.9%+3.4%−11.0%+176%30.1%0.07−50.5%—$5.2B—
VAC Gambling, Resorts & CasinosMarriott Vacations Worldwide Corporation5/5 short0/3 long+10.0%+17.0%+49.3%+98.3%+74.5%+39.2%−14.2%+115%44.9%0.16−74.9%—$3.9B—
ABNB Travel ServicesAirbnb, Inc.5/5 short0/3 long+6.1%+22.1%+23.2%+33.0%+39.1%+51.9%+4.2%—44.3%0.24−62.0%—$106B—
WH Travel LodgingWyndham Hotels & Resorts, Inc.5/5 short0/3 long+15.2%+1.7%−13.0%+4.5%+0.3%+11.5%+4.9%—29.9%0.18−66.1%—$5.7B—
HGV Travel LodgingHilton Grand Vacations Inc.3/5 short0/3 long+1.8%−25.1%−26.5%−20.4%−15.4%−1.8%−23.9%—39.0%0.05−77.7%—$2.8B—
MMYT Travel ServicesMakeMyTrip Limited1/5 short0/3 long−4.3%−13.7%−7.5%−43.9%−49.4%+18.4%+53.5%+65.1%50.0%0.42−73.5%—$4.3B—
TCOM Travel ServicesTrip.com Group Limited1/5 short0/3 long−0.9%−8.8%−26.7%−45.9%−43.5%+26.1%+29.8%−14.3%48.7%0.35−72.0%—$26B—
TRIP Travel ServicesTripadvisor, Inc.1/5 short0/3 long+8.1%−34.0%−17.2%−35.0%−42.6%−36.3%−72.8%−82.8%52.8%-0.23−86.8%—$1.1B—
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How did BKNG do year by year?

This table shows each investment's total return in every full calendar year since 2000, along with where BKNG ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with BKNG 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 BKNG; gray means the two finished within a fraction of a point. The rank row places BKNG among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of BKNG20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000
BKNG This pageBooking Holdings Inc.—+8.6%+41.3%+76.0%−16.0%+7.7%+8.5%+19.2%−0.9%+18.5%+15.0%+11.8%−1.9%+87.3%+32.7%+17.1%+82.8%+197%−35.7%+164%+94.9%−5.4%+31.8%+86.5%−72.6%+345%−97.2%
Rank among alternativesTop quarter in 11 of 2611 of 185 of 183 of 186 of 1811 of 185 of 1713 of 173 of 1611 of 155 of 158 of 1512 of 154 of 148 of 144 of 122 of 114 of 113 of 101 of 92 of 85 of 76 of 62 of 55 of 51 of 55 of 5
SPY S&P 500State Street SPDR S&P 500 ETF9 of 26+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%
HLT Hilton Worldwide Holdings Inc.6 of 12+16.5%+36.1%+44.7%−18.7%+40.2%+0.5%+55.5%−9.4%+44.5%+28.7%−17.5%+17.3%——————————————
MAR Marriott International, Inc.11 of 26+12.3%+24.9%+53.0%−9.3%+25.3%−12.5%+41.5%−19.0%+66.2%+25.4%−13.0%+60.0%+34.4%+29.5%−24.6%+53.4%+42.4%−42.3%−27.9%+43.5%+6.9%+37.2%+41.7%−18.5%−3.2%+34.9%
V Visa Inc.10 of 17+11.8%+22.3%+26.3%−3.4%−0.3%+17.1%+43.3%+16.5%+47.2%+1.4%+19.1%+18.7%+48.0%+50.5%+45.4%−18.9%+68.0%—————————
RCL Royal Caribbean Cruises Ltd.13 of 26+22.5%+79.0%+162%−35.7%+3.0%−43.5%+39.9%−16.1%+48.2%−17.1%+24.7%+76.9%+42.1%+39.3%−46.9%+85.9%+83.8%−67.1%+4.0%−6.8%−16.2%+58.4%+113%+6.0%−37.2%−45.3%
GOOG Alphabet Inc.7 of 21+65.4%+35.6%+58.8%−38.7%+65.2%+31.0%+29.1%−1.0%+35.6%+1.7%+44.5%−6.0%+58.5%+9.5%+8.8%−4.2%+101%−55.5%+50.2%+11.1%+115%—————
TNL Travel + Leisure Co.8 of 19+45.5%+34.7%+12.5%−31.7%+26.0%−8.6%+50.1%−29.0%+55.4%+8.1%−13.5%+18.5%+41.1%+43.2%+28.7%+51.5%+213%−71.5%−26.4%———————
EXPE Expedia Group, Inc.8 of 20+53.3%+22.8%+73.3%−51.5%+36.5%+22.9%−2.9%−5.0%+6.7%−8.1%+46.8%+23.5%+14.5%+116%+151%−0.3%+212%−73.9%+50.6%−12.4%——————
DAL Delta Air Lines, Inc.7 of 18+16.1%+52.0%+23.0%−15.9%−2.8%−30.8%+20.4%−8.7%+16.2%−1.4%+4.1%+80.5%+133%+46.7%−35.8%+10.7%−0.7%−23.0%————————
CCL Carnival Corporation & plc8 of 26+22.6%+34.4%+130%−60.0%−7.1%−56.9%+7.4%−23.4%+30.8%−1.7%+22.9%+15.7%+12.4%+17.6%−27.2%+47.1%+30.3%−42.4%−6.6%−6.1%−5.8%+46.8%+61.6%−9.9%−7.5%−34.4%
CHH Choice Hotels International, Inc.9 of 26−32.3%+26.2%+1.6%−27.1%+46.7%+3.6%+45.9%−6.7%+40.2%+13.1%−8.7%+16.3%+48.6%+18.9%+1.6%+23.5%+8.1%−6.7%−19.9%+2.0%+46.2%+66.5%+55.3%+2.5%+61.8%−19.9%
VAC Marriott Vacations Worldwide Corporation6 of 14−32.7%+9.6%−35.3%−18.9%+24.0%+7.1%+85.9%−47.0%+61.5%+51.8%−22.5%+41.8%+26.6%+143%————————————
ABNB Airbnb, Inc.1 of 5+3.3%−3.5%+59.2%−48.6%+13.4%—————————————————————
WH Wyndham Hotels & Resorts, Inc.2 of 7−23.5%+27.7%+14.9%−19.0%+52.6%−4.1%+41.4%———————————————————
HGV Hilton Grand Vacations Inc.3 of 8+14.9%−3.1%+4.3%−26.0%+66.2%−8.8%+30.3%−37.1%——————————————————
MMYT MakeMyTrip Limited6 of 15−26.9%+139%+70.4%−0.5%−6.2%+28.9%−5.9%−18.5%+34.5%+29.4%−34.0%+34.9%+54.8%−48.3%−11.1%———————————
TCOM Trip.com Group Limited8 of 22+5.2%+90.6%+4.7%+39.7%−27.0%+0.6%+23.9%−38.6%+10.2%−13.7%+104%−8.3%+119%−3.2%−42.1%+12.6%+202%−58.4%+84.9%+117%+26.3%+35.1%————
TRIP Tripadvisor, Inc.4 of 14−1.4%−31.4%+19.7%−34.0%−5.3%−5.3%−36.7%+56.6%−25.7%−45.6%+14.2%−9.9%+97.6%+66.3%————————————
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Risk and diversification

How BKNG 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 BKNG's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents BKNG's five deepest drawdowns since it began trading in 1999, 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 BKNG fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringBKNG fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−99.3%−38.9%Apr 1999Oct 20023.5 yearsSep 201310.9 years
Late-2018 sell-off−47.8%−16.4%Mar 2018Mar 20202 yearsDec 20209 months
2022 bear market−39.5%−19.0%Feb 2022Oct 20228 monthsMay 20237 months
No named crash−34.5%−2.8%Apr 1999Apr 1999Under a monthApr 1999Under a month
2015 China and oil sell-off−33.7%−11.3%Nov 2015Feb 20163 monthsSep 20167 months

How did BKNG do in stock market crashes?

This section measures how far BKNG, 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.

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

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
BKNG This pageBooking Holdings Inc.—−5.6%−39.5%−41.5%−19.1%−6.3%−33.7%−17.8%−3.2%−66.3%−98.9%
SPY S&P 500State Street SPDR S&P 500 ETF7 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
HLT Hilton Worldwide Holdings Inc.2 of 6−6.7%−32.6%−49.6%−22.2%−4.8%−34.1%————
MAR Marriott International, Inc.4 of 10−7.4%−29.9%−56.6%−24.0%−5.2%−24.9%−25.6%−2.8%−70.1%−46.2%
V Visa Inc.6 of 8−3.5%−24.1%−36.4%−19.1%−5.8%−15.8%−11.5%−0.8%——
RCL Royal Caribbean Cruises Ltd.2 of 10−11.1%−64.5%−79.7%−31.5%−5.6%−35.5%−45.1%−4.3%−87.2%−72.3%
GOOG Alphabet Inc.6 of 9−3.9%−35.0%−30.8%−18.9%−9.9%−12.7%−21.1%−1.1%−65.3%—
TNL Travel + Leisure Co.1 of 9−12.8%−43.6%−65.5%−23.5%−6.6%−25.0%−27.3%−5.8%−91.1%—
EXPE Expedia Group, Inc.2 of 9−11.4%−58.2%−62.4%−18.2%−19.6%−33.2%−22.9%−4.7%−82.5%—
DAL Delta Air Lines, Inc.3 of 9−10.2%−37.4%−63.5%−21.0%−7.6%−22.0%−21.3%−0.2%−81.1%—
CCL Carnival Corporation & plc3 of 10−12.3%−72.6%−78.3%−30.6%−4.5%−24.0%−19.5%−3.5%−68.9%−46.3%
CHH Choice Hotels International, Inc.6 of 10−6.0%−32.3%−50.5%−20.5%−4.0%−22.9%−18.1%−2.6%−49.2%−53.5%
VAC Marriott Vacations Worldwide Corporation1 of 6−11.5%−33.8%−71.1%−47.7%−6.6%−41.8%————
ABNB Airbnb, Inc.0 of 2−7.2%−52.3%————————
WH Wyndham Hotels & Resorts, Inc.1 of 4−10.4%−34.1%−63.7%−22.2%——————
HGV Hilton Grand Vacations Inc.1 of 5−10.5%−39.5%−67.1%−26.2%−3.0%—————
MMYT MakeMyTrip Limited3 of 7−1.2%−28.0%−61.8%−28.3%−10.8%−32.2%−25.9%———
TCOM Trip.com Group Limited1 of 9−5.2%−45.0%−37.8%−35.9%−8.3%−34.9%−34.3%−3.1%−76.3%—
TRIP Tripadvisor, Inc.0 of 6−9.8%−42.8%−50.1%−22.9%−6.7%−37.7%————
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How closely does BKNG 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 BKNG 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 BKNG's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
BKNG This pageBooking Holdings Inc.99%123%0.811.17
GOOG Alphabet Inc.132%110%1.201.12
V Visa Inc.93%79%1.180.87
HLT Hilton Worldwide Holdings Inc.121%105%1.161.18
MAR Marriott International, Inc.132%137%0.961.46
CHH Choice Hotels International, Inc.85%105%0.811.06
MMYT MakeMyTrip Limited74%100%0.751.12
RCL Royal Caribbean Cruises Ltd.171%231%0.742.24
TNL Travel + Leisure Co.124%167%0.741.54
EXPE Expedia Group, Inc.104%144%0.721.48
DAL Delta Air Lines, Inc.107%149%0.721.34
VAC Marriott Vacations Worldwide Corporation121%195%0.621.88
CCL Carnival Corporation & plc135%289%0.472.30
TCOM Trip.com Group Limited42%96%0.440.58
TRIP Tripadvisor, Inc.19%165%0.121.10
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What diversifies BKNG?

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

ETFs

InvestmentCorrelation5Y returnSharpe202220182014200820052002200080/20 mix volatility80/20 mix annual return
BKNG Booking Holdings Inc. (this page)1.00+75.9%0.51−16.0%−0.9%−1.9%−35.7%−5.4%−72.6%−97.2%30.2%+11.9%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.46+119%1.48+3.8%−5.2%—————25.1%+13.6%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.23+225%1.34+6.0%−19.8%+8.1%−20.8%———24.9%+15.6%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.47+101%1.04+10.4%−8.7%+23.8%————25.7%+13.3%
HDV Dividend & IncomeiShares Core High Dividend ETF0.49+83.3%1.00+7.1%−3.0%+12.6%————25.7%+12.6%
SMH TechnologyVanEck Semiconductor ETF0.29+323%0.97−33.5%−9.1%+30.2%−44.7%+10.8%−47.0%—27.1%+18.0%
GLD CommoditiesSPDR Gold Shares0.00+126%0.96−0.8%−1.9%−2.2%+4.9%+17.8%——24.4%+14.3%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.42+136%0.93−10.4%−0.9%—————26.2%+14.5%
XLE EnergyState Street Energy Select Sector SPDR ETF0.31+177%0.93+64.4%−18.2%−8.7%−39.0%+40.1%−14.8%+24.4%26.3%+15.0%

Stocks

InvestmentCorrelation5Y returnSharpe202220182014200820052002200080/20 mix volatility80/20 mix annual return
BKNG Booking Holdings Inc. (this page)1.00+75.9%0.51−16.0%−0.9%−1.9%−35.7%−5.4%−72.6%−97.2%30.2%+11.9%
CAH Medical - DistributionCardinal Health, Inc.0.21+479%1.55+54.1%−24.5%+23.0%−39.6%+18.7%−8.3%+108%25.8%+17.9%
CLS Hardware, Equipment & PartsCelestica Inc.0.26+3,143%1.47+1.3%−16.3%+12.9%−20.5%−25.2%−65.1%−2.3%29.5%+30.3%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.13+1,636%1.46+17.0%+0.8%−10.4%−15.2%+20.1%−9.4%−71.1%26.9%+26.8%
MCK Medical - DistributionMcKesson Corporation0.08+413%1.44+51.8%−28.4%+29.3%−40.4%+64.9%−27.2%+61.2%25.1%+17.5%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.24+690%1.41+86.6%−8.2%+0.4%————26.5%+19.8%
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Common questions

What was BKNG's worst drawdown?

BKNG's deepest decline since it began trading in 1999 was 99.3%, from April 1999 to October 2002. It took about 11 years from the low to climb back to its old high.

What were BKNG's best and worst years?

Over 26 full calendar years, BKNG's best year was 2001, when it returned 345%. Its worst was 2000, with a return of -97.2%.

Is there a better investment than BKNG?

Among BKNG's popular alternatives, MAR and HLT earned more than BKNG with less volatility over the past 5 years. MAR returned 22.0% a year at 28.6% volatility, against 12.0% a year at 33.2%. Looking beyond its popular alternatives, IHG (hotels & resorts) earned more than BKNG with less volatility over the past 5 years: 21.4% a year at 26.6% volatility, against 12.0% a year at 33.2%.

Is BKNG more volatile than the S&P 500?

Yes. BKNG's volatility over the past 5 years was 33.2%, about twice the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BKNG's return lands within 33.2% 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 BKNG's Sharpe ratio?

BKNG's Sharpe ratio over the past 5 years was 0.51, against 0.79 for the S&P 500, so BKNG 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 BKNG with the S&P 500?

Over the past 5 years, BKNG's monthly returns had a correlation of 0.58 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against BKNG instead: the lower it is, the more that option would diversify a BKNG holding.

What are the best alternatives to BKNG?

Of the 17 popular alternatives we compared, eight outperformed BKNG in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: HLT, MAR and V.

Did BKNG outperform the S&P 500?

BKNG finished ahead of the S&P 500 (SPY) in 16 of 26 full calendar years. In 2025, it returned +8.6%, against +17.7% for the index.

How did BKNG do in stock market crashes?

BKNG fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in seven. The clearest case was the dot-com bust, when BKNG fell 98.9% and the S&P 500 fell 47.5%.

What diversifies BKNG?

These had a low correlation with BKNG over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.46), DXJ (correlation 0.23) and EMLP (correlation 0.47); among large stocks, CAH (correlation 0.21), CLS (correlation 0.26) and FIX (correlation 0.13). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to BKNG

Other stocks and ETFs