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Relative Intelligence · Integrated Oil & Gas

How BP p.l.c. (BP) compares with the whole market and its popular alternatives

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

Period covered: BP's full trading record, from October 1986 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 BP →Chart BP vs. 17 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in BP over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of BP over the same span and BP'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 1997 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. 817 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of BP; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000$200,000$500,000$1M199720022007201220172022$10,000$100,000$1M19972004201120182025
  • VLO$1M+10,099% total · +17.3% a year
  • IMO$350,553+3,406% total · +13.0% a year
  • SU$282,795+2,728% total · +12.2% a year
  • COP$156,444+1,464% total · +9.9% a year
  • CVX$142,109+1,321% total · +9.6% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • XOM$124,235+1,142% total · +9.1% a year
  • E$101,879+919% total · +8.3% a year
  • SHEL$63,537+535% total · +6.6% a year
  • BP$36,813+268% total · +4.6% 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. 735 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of BP; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$20,000$40,000$60,000$80,000$100,000$120,000202120222023202420252026$0$50,000$100,000$150,000202120222023202420252026
  • YPF$107,580+976% total · +60.8% a year
  • PBR$64,214+542% total · +45.1% a year
  • VLO$64,131+541% total · +45.0% a year
  • SU$40,398+304% total · +32.2% a year
  • XOM$32,965+230% total · +26.9% a year
  • E$27,904+179% total · +22.8% a year
  • SHEL$25,892+159% total · +21.0% a year
  • CVX$24,595+146% total · +19.7% a year
  • BP$20,643+106% total · +15.6% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
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BP 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
$130B
Industry
Oil & Gas Integrated
Price history from
October 1986

Returns

Past 1 year
+56.3%total return
Past 3 years
+46.5%+13.6% a year
Past 5 years
+110%+16.0% a year
Past 10 years
+141%+9.2% a year
Best calendar year
+37.0%2022
Worst calendar year
−41.3%2020
Losing years
10 of 29full calendar years

Risk

Volatility
28.7%typical yearly swing, 5 years
Sharpe ratio
0.66return per unit of risk, 5 years
Worst decline ever
−63.9%May 2018 to Oct 2020
From its all-time high
−1.6%below the peak

BP against the whole market

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

How does BP rank among all stocks?

This section ranks BP 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 BP 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.

MeasureBPRankStanding
1-year return+56.3%468 of 3,287top 14%
3-year return+46.5%1,607 of 3,017bottom 48%
5-year return+110%623 of 2,893top 22%
10-year return+141%1,124 of 2,202bottom 50%
Volatility, 5 years28.7%619 of 2,893top 21%
Sharpe ratio, 5 years0.66539 of 2,893top 19%
Worst decline, past 10 years−63.9%1,040 of 2,187top 48%

What has beaten BP 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). BP sits where the dashed lines cross. Anything in the green box above and to the left earned more than BP 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 BP; faint dots are 63 more of the 97 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.

15.0%20.0%25.0%30.0%35.0%40.0%45.0%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 BPMSGS: +18.4% a year, volatility 25.6%FLTW: +21.8% a year, volatility 24.3%TRV: +22.4% a year, volatility 22.3%AFL: +19.0% a year, volatility 20.8%RY: +17.3% a year, volatility 18.2%ETR: +19.2% a year, volatility 22.4%CBOE: +21.5% a year, volatility 25.1%ACGL: +20.1% a year, volatility 24.5%WRB: +18.9% a year, volatility 22.9%CRAK: +19.8% a year, volatility 20.9%NEU: +21.0% a year, volatility 26.8%WMT: +20.8% a year, volatility 22.6%JPM: +17.3% a year, volatility 24.3%ABBV: +26.1% a year, volatility 23.4%DXJ: +26.6% a year, volatility 19.1%COST: +17.4% a year, volatility 22.9%PM: +21.0% a year, volatility 23.4%NVS: +17.1% a year, volatility 20.7%XLE: +22.6% a year, volatility 25.5%RTX: +18.6% a year, volatility 24.3%GILD: +22.8% a year, volatility 24.9%TJX: +19.9% a year, volatility 22.3%VGT: +18.4% a year, volatility 26.0%BTI: +18.7% a year, volatility 22.0%PGR: +21.3% a year, volatility 25.6%MO: +17.8% a year, volatility 21.4%BNY: +22.7% a year, volatility 24.4%CM: +19.2% a year, volatility 21.6%COR: +24.2% a year, volatility 22.8%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%HLT: +21.0% a year, volatility 26.8%MNST: +17.2% a year, volatility 24.9%CCEP: +19.7% a year, volatility 23.2%PCAR: +17.9% a year, volatility 26.1%IX: +17.9% a year, volatility 25.4%SDCI: +20.6% a year, volatility 18.4%KOF: +22.3% a year, volatility 24.7%SPMO: +18.7% a year, volatility 20.8%IXC: +20.7% a year, volatility 23.2%EHC: +18.4% a year, volatility 26.8%ENSG: +19.8% a year, volatility 26.8%AIRR: +18.3% a year, volatility 25.9%ACT: +20.5% a year, volatility 24.3%DTM: +24.5% a year, volatility 25.2%EUFN: +18.5% a year, volatility 21.8%GARP: +17.5% a year, volatility 22.5%FRDM: +17.3% a year, volatility 22.8%DBJP: +20.9% a year, volatility 19.2%HSBC: +33.1% a year, volatility 25.9%NANR: +17.4% a year, volatility 22.6%UMI: +18.7% a year, volatility 19.2%MPLX: +23.5% a year, volatility 18.8%WELL: +26.0% a year, volatility 23.8%WAB: +25.6% a year, volatility 26.2%IHG: +21.4% a year, volatility 26.6%RGA: +19.7% a year, volatility 27.3%TTE: +18.0% a year, volatility 25.8%GHC: +17.4% a year, volatility 26.3%AM: +20.0% a year, volatility 25.9%BLX: +31.4% a year, volatility 25.9%ATMP: +21.2% a year, volatility 21.5%UFOX: +17.2% a year, volatility 26.5%BP: +16.0% a year, volatility 28.7%SPY (S&P 500): +12.7% a year, volatility 17.1%CVX: +19.5% a year, volatility 25.2%XOM: +27.1% a year, volatility 26.5%SHEL: +21.0% a year, volatility 24.8%E: +23.0% a year, volatility 25.6%LNG: +23.4% a year, volatility 30.2%PAA: +27.0% a year, volatility 25.6%INSW: +56.5% a year, volatility 40.5%PAGP: +26.8% a year, volatility 26.1%KMI: +18.7% a year, volatility 22.5%EPD: +16.4% a year, volatility 17.1%WES: +23.5% a year, volatility 27.6%CAH: +42.1% a year, volatility 24.7%MCK: +38.7% a year, volatility 25.0%AMGN: +19.6% a year, volatility 24.9%LLY: +40.7% a year, volatility 32.8%EWT: +20.4% a year, volatility 24.2%GLD: +17.7% a year, volatility 18.9%NHC: +32.0% a year, volatility 28.5%CB: +15.7% a year, volatility 20.4%WMB: +24.6% a year, volatility 24.0%BPSPY (S&P 500)CVXXOMSHELELNGPAAINSWKMIEPDWESCAHMCKLLYGLDNHCCBWMB10.0%20.0%30.0%40.0%50.0%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 BPMSGS: +18.4% a year, volatility 25.6%FLTW: +21.8% a year, volatility 24.3%TRV: +22.4% a year, volatility 22.3%AFL: +19.0% a year, volatility 20.8%RY: +17.3% a year, volatility 18.2%ETR: +19.2% a year, volatility 22.4%CBOE: +21.5% a year, volatility 25.1%ACGL: +20.1% a year, volatility 24.5%WRB: +18.9% a year, volatility 22.9%CRAK: +19.8% a year, volatility 20.9%NEU: +21.0% a year, volatility 26.8%WMT: +20.8% a year, volatility 22.6%JPM: +17.3% a year, volatility 24.3%ABBV: +26.1% a year, volatility 23.4%DXJ: +26.6% a year, volatility 19.1%COST: +17.4% a year, volatility 22.9%PM: +21.0% a year, volatility 23.4%NVS: +17.1% a year, volatility 20.7%XLE: +22.6% a year, volatility 25.5%RTX: +18.6% a year, volatility 24.3%GILD: +22.8% a year, volatility 24.9%TJX: +19.9% a year, volatility 22.3%VGT: +18.4% a year, volatility 26.0%BTI: +18.7% a year, volatility 22.0%PGR: +21.3% a year, volatility 25.6%MO: +17.8% a year, volatility 21.4%BNY: +22.7% a year, volatility 24.4%CM: +19.2% a year, volatility 21.6%COR: +24.2% a year, volatility 22.8%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%HLT: +21.0% a year, volatility 26.8%MNST: +17.2% a year, volatility 24.9%CCEP: +19.7% a year, volatility 23.2%PCAR: +17.9% a year, volatility 26.1%IX: +17.9% a year, volatility 25.4%SDCI: +20.6% a year, volatility 18.4%KOF: +22.3% a year, volatility 24.7%SPMO: +18.7% a year, volatility 20.8%IXC: +20.7% a year, volatility 23.2%EHC: +18.4% a year, volatility 26.8%ENSG: +19.8% a year, volatility 26.8%AIRR: +18.3% a year, volatility 25.9%ACT: +20.5% a year, volatility 24.3%DTM: +24.5% a year, volatility 25.2%EUFN: +18.5% a year, volatility 21.8%GARP: +17.5% a year, volatility 22.5%FRDM: +17.3% a year, volatility 22.8%DBJP: +20.9% a year, volatility 19.2%HSBC: +33.1% a year, volatility 25.9%NANR: +17.4% a year, volatility 22.6%UMI: +18.7% a year, volatility 19.2%MPLX: +23.5% a year, volatility 18.8%WELL: +26.0% a year, volatility 23.8%WAB: +25.6% a year, volatility 26.2%IHG: +21.4% a year, volatility 26.6%RGA: +19.7% a year, volatility 27.3%TTE: +18.0% a year, volatility 25.8%GHC: +17.4% a year, volatility 26.3%AM: +20.0% a year, volatility 25.9%BLX: +31.4% a year, volatility 25.9%ATMP: +21.2% a year, volatility 21.5%UFOX: +17.2% a year, volatility 26.5%BP: +16.0% a year, volatility 28.7%SPY (S&P 500): +12.7% a year, volatility 17.1%CVX: +19.5% a year, volatility 25.2%XOM: +27.1% a year, volatility 26.5%SHEL: +21.0% a year, volatility 24.8%E: +23.0% a year, volatility 25.6%LNG: +23.4% a year, volatility 30.2%PAA: +27.0% a year, volatility 25.6%INSW: +56.5% a year, volatility 40.5%PAGP: +26.8% a year, volatility 26.1%KMI: +18.7% a year, volatility 22.5%EPD: +16.4% a year, volatility 17.1%WES: +23.5% a year, volatility 27.6%CAH: +42.1% a year, volatility 24.7%MCK: +38.7% a year, volatility 25.0%AMGN: +19.6% a year, volatility 24.9%LLY: +40.7% a year, volatility 32.8%EWT: +20.4% a year, volatility 24.2%GLD: +17.7% a year, volatility 18.9%NHC: +32.0% a year, volatility 28.5%CB: +15.7% a year, volatility 20.4%WMB: +24.6% a year, volatility 24.0%BPSPY (S&P 500)CVXXOMSHELELNGPAAINSWEPDCAHMCKLLYGLDNHCCBWMB
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region
  • 1 with more than 1.6× BP's volatility is in the table only

Is there a better investment than BP?

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

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

Screen the whole market against BP 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 BP?lower diversifies moreExpenseper year
BPBP p.l.c. · this page
+16.0%28.7%0.66−63.9%+141%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.120.09%
Popular alternativesbest 6 shownThe investments people most often weigh against BP. 15 of 17 passed at least one test.
CVXChevron Corporation · Integrated Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+19.5%25.2%0.84−55.8%+238%0.71—
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Higher return, lower volatilityHigher return in most periods+27.1%26.5%1.04−61.0%+214%0.74—
SHELShell plc · Integrated Oil & Gas
Higher return, lower volatilityHigher return in most periods+21.0%24.8%0.90−67.2%+233%0.87—
EEni S.p.A. · Integrated Oil & Gas
Higher return, lower volatilityHigher return in most periods+23.0%25.6%0.94−61.4%+278%0.78—
YPFYPF Sociedad Anónima · Integrated Oil & Gas
On the frontierHigher return in most periods+60.7%54.1%1.14−90.1%+173%0.32—
LNGCheniere Energy, Inc. · Oil & Gas
Higher return, similar volatilityHigher Sharpe, smaller worst decline+23.4%30.2%0.85−57.5%+616%0.37—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Integrated Oil & Gas and Oil & Gas and the categories next to it (Exploration & Production, Oil & Gas Midstream, Oilfield Services), plus BP's specific themes. 17 of 69 passed at least one test.
PAAPlains All American Pipeline, L.P. · Oil & Gas Midstream
Higher return, lower volatilityHigher return in most periods+27.0%25.6%1.06−87.9%+64.0%0.65—
INSWInternational Seaways, Inc. · Oil & Gas
On the frontierHigher Sharpe, smaller worst declineHigher return in most periods+56.5%40.5%1.31−57.4%—0.40—
PAGPPlains GP Holdings LP · Oil & Gas Midstream
Higher return, lower volatilityHigher return in most periods+26.8%26.1%1.05−88.0%+56.3%0.63—
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Higher return, lower volatilityHigher Sharpe, smaller worst decline+18.7%22.5%0.88−55.1%+163%0.37—
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Similar return, lower volatilityHigher Sharpe, smaller worst decline+16.4%17.1%0.98−58.1%+178%0.56—
WESWestern Midstream Partners, LP · Oil & Gas Midstream
Higher return, similar volatility+23.5%27.6%0.91−91.9%+128%0.45—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 387 of 3,547 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%0.00—
MCKMcKesson Corporation · Health Care Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+38.7%25.0%1.44−38.1%+586%0.10—
AMGNAmgen Inc. · Biotechnology
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+19.6%24.9%0.85−24.9%+266%0.27—
LLYEli Lilly and Company · Pharmaceuticals
Higher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%-0.25—
EWTiShares MSCI Taiwan ETF · International Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+20.4%24.2%0.89−38.9%+468%-0.090.59%
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%-0.100.40%
NHCNational HealthCare Corporation · Medical - Care Facilities
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+32.0%28.5%1.12−35.3%+394%-0.08—
CBChubb Limited · Property & Casualty Insurance
Similar return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+15.7%20.4%0.82−42.6%+248%0.29—
What these numbers mean for BP
Annual return
BP returned 16.0% 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 $21,000. 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
BP's volatility over the past 5 years was 28.7%, 1.7 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BP's return lands within 28.7% 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
BP's Sharpe ratio over the past 5 years was 0.66, against 0.79 for the S&P 500, so BP 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
BP's worst fall from a peak to a low over the past 10 years was 63.9%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 63.9% fall takes a 177% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, BP's monthly returns had a correlation of 0.12 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 BP instead: the lower it is, the more that option would diversify a BP holding. Guide: Correlation and diversification →
Show all 97 stocks and funds worth at least $500 million that earned more than BP with less volatility

Out of 3,633 tested over 5 years. The strongest 76 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with BPExpense
1
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.00—
2
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.10—
3
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%0.27—
4
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+20.4%24.2%0.89−38.9%+468%-0.090.59%
5
MSGSMadison Square Garden Sports Corp. · Entertainment
Whole market+18.4%25.6%0.79−41.6%+432%0.13—
6
CVXChevron Corporation · Integrated Oil & Gas
Popular alternative+19.5%25.2%0.84−55.8%+238%0.71—
7
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%-0.100.40%
8
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—-0.090.19%
9
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.31—
10
AFLAflac Incorporated · Life Insurance
Whole market+19.0%20.8%0.95−54.9%+335%0.39—
11
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.16—
12
ETREntergy Corporation · Electric Utilities
Whole market+19.2%22.4%0.90−42.0%+311%0.17—
13
CBOECboe Global Markets, Inc. · Capital Markets
Whole market+21.5%25.1%0.91−43.2%+463%0.25—
14
ACGLArch Capital Group Ltd. · Property & Casualty Insurance
Whole market+20.1%24.5%0.87−53.8%+309%0.36—
15
WRBW. R. Berkley Corporation · Property & Casualty Insurance
Whole market+18.9%22.9%0.87−45.3%+443%0.13—
16
CRAKVanEck Oil Refiners ETF · Energy
Whole market+19.8%20.9%0.97−58.8%+336%0.710.61%
17
NEUNewMarket Corporation · Specialty Chemicals
Whole market+21.0%26.8%0.85−40.7%+165%0.10—
18
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.01—
19
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+537%0.35—
20
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.05—
21
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.160.48%
22
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%-0.02—
23
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.19—
24
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.15—
25
XLEState Street Energy Select Sector SPDR ETF · Energy Equity
Whole market+22.6%25.5%0.93−66.8%+189%0.750.08%
26
RTXRTX Corporation · Aerospace & Defense
Whole market+18.6%24.3%0.83−52.0%+317%0.23—
27
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.23—
28
TJXThe TJX Companies, Inc. · Specialty Retail
Whole market+19.9%22.3%0.93−42.5%+361%0.20—
29
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%-0.100.09%
30
BTIBritish American Tobacco p.l.c. · Tobacco
Whole market+18.7%22.0%0.90−56.1%+98.2%0.35—
31
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%0.11—
32
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%0.32—
33
BNYBank of New York Mellon Corp · Banks
Whole market+22.7%24.4%0.97−50.5%+341%0.36—
34
CMCanadian Imperial Bank of Commerce · Banks
Whole market+19.2%21.6%0.93−47.3%+395%0.11—
35
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.17—
36
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.28—
37
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.10—
38
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+21.0%26.8%0.85−50.8%+694%0.20—
39
MNSTMonster Beverage Corporation · Food & Beverages
Whole market+17.2%24.9%0.77−30.4%+285%-0.19—
40
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Popular alternative+27.1%26.5%1.04−61.0%+214%0.74—
41
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Whole market+19.7%23.2%0.90−48.8%+292%0.12—
42
PCARPACCAR Inc · Commercial Vehicles
Whole market+17.9%26.1%0.76−37.9%+314%0.37—
43
SHELShell plc · Integrated Oil & Gas
Popular alternative+21.0%24.8%0.90−67.2%+233%0.87—
44
IXORIX Corporation · Diversified Financials
Whole market+17.9%25.4%0.78−42.5%+284%0.24—
45
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.610.80%
46
PAAPlains All American Pipeline, L.P. · Oil & Gas Midstream
Same or nearby category+27.0%25.6%1.06−87.9%+64.0%0.65—
47
EEni S.p.A. · Integrated Oil & Gas
Popular alternative+23.0%25.6%0.94−61.4%+278%0.78—
48
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.3%24.7%0.94−55.1%+119%0.07—
49
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%-0.050.13%
50
IXCiShares Global Energy ETF · International
Whole market+20.7%23.2%0.93−64.2%+183%0.820.37%
51
PAGPPlains GP Holdings LP · Oil & Gas Midstream
Same or nearby category+26.8%26.1%1.05−88.0%+56.3%0.63—
52
EHCEncompass Health Corporation · Health Care Facilities
Whole market+18.4%26.8%0.77−39.5%+340%0.08—
53
ENSGThe Ensign Group, Inc. · Health Care Facilities
Whole market+19.8%26.8%0.81−55.5%+896%0.24—
54
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Same or nearby category+18.7%22.5%0.88−55.1%+163%0.37—
55
AIRRFirst Trust RBA American Industrial RenaissanceTM ETF · US Industrials
Whole market+18.3%25.9%0.78−42.4%+407%0.060.69%
56
ACTEnact Holdings Inc. · Insurance
Whole market+20.5%24.3%0.89−20.2%—0.28—
57
DTMDT Midstream, Inc. · Oil & Gas Midstream
Same or nearby category+24.5%25.2%1.00−23.6%—0.20—
58
EUFNiShares MSCI Europe Financials ETF · Financial Sector Equity
Whole market+18.5%21.8%0.89−53.2%+233%0.350.49%
59
GARPiShares MSCI USA Quality GARP ETF · Broad Market
Whole market+17.5%22.5%0.83−31.4%—-0.080.15%
60
FRDMFreedom 100 Emerging Markets ETF · International
Whole market+17.3%22.8%0.82−40.5%—-0.010.49%
61
DBJPXtrackers MSCI Japan Hedged Equity ETF · International
Whole market+20.9%19.2%1.09−31.3%+348%0.010.45%
62
HSBCHSBC Holdings plc · Banks
Whole market+33.1%25.9%1.24−62.3%+319%0.39—
63
NANRState Street SPDR S&P North American Natural Resources ETF · Broad Market
Whole market+17.4%22.6%0.83−49.1%+241%0.520.35%
64
UMIUSCF Midstream Energy Income Fund · Energy
Whole market+18.7%19.2%0.99−48.1%—0.480.85%
65
MPLXMPLX Lp · Oil & Gas Midstream
Same or nearby category+23.5%18.8%1.22−75.2%+350%0.43—
66
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.16—
67
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Whole market+25.6%26.2%1.00−64.1%+264%0.23—
68
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.4%26.6%0.86−59.3%+383%0.09—
69
RGAReinsurance Group of America, Incorporated · Insurance
Whole market+19.7%27.3%0.80−65.8%+199%0.36—
70
WMBThe Williams Companies, Inc. · Oil & Gas Midstream
Popular alternative+24.6%24.0%1.04−68.1%+288%0.28—
71
TTETotalEnergies SE · Integrated Oil & Gas
Popular alternative+18.0%25.8%0.78−59.6%+234%0.82—
72
GHCGraham Holdings Company · Industrial Conglomerates
Whole market+17.4%26.3%0.74−62.5%+191%0.28—
73
AMAntero Midstream Corporation · Oil & Gas Midstream
Same or nearby category+20.0%25.9%0.84−92.9%—0.39—
74
BLXBladex, Inc. · Banks - Regional
Whole market+31.4%25.9%1.19−68.5%+290%0.25—
75
ATMPBarclays ETN+ Select MLP ETN · Broad Market
Whole market+21.2%21.5%1.01−70.3%+172%0.520.95%
76
UFOXDefiance Space and Connective Tech ETF · Technology
Whole market+17.2%26.5%0.73−33.9%—-0.060.30%

BP against its popular alternatives

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

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

Green points earned more than BP 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%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityBP: 16.0% a year, volatility 28.7%SPY (S&P 500): 12.7% a year, volatility 17.1%E: 23.0% a year, volatility 25.6%XOM: 27.1% a year, volatility 26.5%CVX: 19.5% a year, volatility 25.2%SHEL: 21.0% a year, volatility 24.8%WMB: 24.6% a year, volatility 24.0%TTE: 18.0% a year, volatility 25.8%SLB: 10.0% a year, volatility 37.5%PBR: 50.3% a year, volatility 37.5%SU: 33.1% a year, volatility 32.5%VLO: 44.2% a year, volatility 36.9%EQNR: 19.2% a year, volatility 34.4%EC: 18.0% a year, volatility 37.9%CVE: 26.6% a year, volatility 39.4%COP: 18.2% a year, volatility 32.6%IMO: 34.3% a year, volatility 32.0%YPF: 60.7% a year, volatility 54.1%LNG: 23.4% a year, volatility 30.2%BPSPY (S&P 500)EXOMCVXSHELWMBTTESLBPBRSUVLOEQNRECCVECOPIMOYPFLNG10.0%20.0%30.0%40.0%50.0%60.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityBP: 16.0% a year, volatility 28.7%SPY (S&P 500): 12.7% a year, volatility 17.1%E: 23.0% a year, volatility 25.6%XOM: 27.1% a year, volatility 26.5%CVX: 19.5% a year, volatility 25.2%SHEL: 21.0% a year, volatility 24.8%WMB: 24.6% a year, volatility 24.0%TTE: 18.0% a year, volatility 25.8%SLB: 10.0% a year, volatility 37.5%PBR: 50.3% a year, volatility 37.5%SU: 33.1% a year, volatility 32.5%VLO: 44.2% a year, volatility 36.9%EQNR: 19.2% a year, volatility 34.4%EC: 18.0% a year, volatility 37.9%CVE: 26.6% a year, volatility 39.4%COP: 18.2% a year, volatility 32.6%IMO: 34.3% a year, volatility 32.0%YPF: 60.7% a year, volatility 54.1%LNG: 23.4% a year, volatility 30.2%BPSPY (S&P 500)EXOMCVXSHELWMBSLBPBRSUVLOEQNRCVEIMOYPFLNG
All figures
InvestmentAnnual returnVolatility
YPF YPF Sociedad Anónima+60.7%54.1%
PBR Petróleo Brasileiro S.A. - Petrobras+50.3%37.5%
VLO Valero Energy Corporation+44.2%36.9%
IMO Imperial Oil Limited+34.3%32.0%
SU Suncor Energy Inc.+33.1%32.5%
XOM Exxonmobil Holdings Corporation+27.1%26.5%
CVE Cenovus Energy Inc.+26.6%39.4%
WMB The Williams Companies, Inc.+24.6%24.0%
LNG Cheniere Energy, Inc.+23.4%30.2%
E Eni S.p.A.+23.0%25.6%
SHEL Shell plc+21.0%24.8%
CVX Chevron Corporation+19.5%25.2%
EQNR Equinor ASA+19.2%34.4%
COP ConocoPhillips+18.2%32.6%
TTE TotalEnergies SE+18.0%25.8%
EC Ecopetrol S.A.+18.0%37.9%
BP This pageBP p.l.c.+16.0%28.7%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
SLB Slb N.V.+10.0%37.5%
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Has BP consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than BP 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
BP BP p.l.c. (this page)—+14.4%+19.0%+12.1%+43.0%+56.3%+46.5%+110%+141%28.7%0.66−63.9%—$130B—
PBR QualifiedPetróleo Brasileiro S.A. - Petrobras5/5 short3/3 longAll-weather+24.6%+45.4%+31.0%+128%+140%+132%+667%+674%37.5%1.28−75.3%—$166B—
SU QualifiedSuncor Energy Inc.5/5 short3/3 longAll-weather+16.7%+26.8%+28.9%+75.6%+111%+161%+318%+295%32.5%1.05−73.5%—$93B—
VLO QualifiedValero Energy Corporation4/5 short3/3 longAll-weather+10.2%+38.9%+93.2%+166%+176%+259%+524%+1,061%36.9%1.18−71.9%—$125B—
EQNR QualifiedEquinor ASA4/5 short3/3 longAll-weather+7.7%+23.4%+29.6%+92.7%+107%+73.2%+141%+416%34.4%0.69−66.8%—$109B—
E QualifiedEni S.p.A.4/5 short3/3 longAll-weather+10.2%+20.3%+14.6%+56.0%+77.9%+120%+181%+278%25.6%0.94−61.4%—$86B—
XOM QualifiedExxonmobil Holdings Corporation4/5 short3/3 longAll-weather+12.4%+20.7%+22.0%+47.9%+62.4%+76.7%+232%+214%26.5%1.04−61.0%—$731B—
EC QualifiedEcopetrol S.A.3/5 short3/3 long+5.0%+10.3%+35.7%+81.5%+112%+116%+129%+401%37.9%0.63−73.3%—$36B—
CVX QualifiedChevron Corporation3/5 short3/3 long+10.8%+20.0%+25.4%+48.8%+51.9%+53.4%+144%+238%25.2%0.84−55.8%—$446B—
CVE QualifiedCenovus Energy Inc.3/5 short3/3 long+5.1%+18.0%+34.6%+92.4%+101%+76.2%+225%+163%39.4%0.80−89.2%—$61B—
COP QualifiedConocoPhillips4/5 short2/3 long+14.4%+27.0%+27.1%+54.3%+72.9%+28.5%+131%+379%32.6%0.68−70.7%—$175B—
IMO Oil & Gas IntegratedImperial Oil Limited2/5 short3/3 long+7.0%+10.5%+11.0%+53.8%+59.7%+143%+337%+430%32.0%1.09−77.1%—$65B—
SHEL Oil & Gas IntegratedShell plc2/5 short3/3 long+13.2%+23.5%+22.1%+43.7%+50.3%+77.1%+159%+233%24.8%0.90−67.2%—$301B—
YPF Oil & Gas IntegratedYPF Sociedad Anónima2/5 short3/3 long−4.5%+0.7%+23.9%+39.9%+102%+313%+971%+173%54.1%1.14−90.1%—$20B—
LNG Oil & Gas MidstreamCheniere Energy, Inc.1/5 short3/3 long+3.0%+7.2%+12.8%+44.3%+29.3%+69.8%+186%+616%30.2%0.85−57.5%—$59B—
WMB Oil & Gas MidstreamThe Williams Companies, Inc.0/5 short3/3 long−1.8%−4.5%+0.6%+18.1%+14.9%+125%+200%+288%24.0%1.04−68.1%—$86B—
TTE Oil & Gas IntegratedTotalEnergies SE0/5 short3/3 long+1.2%+12.8%+5.7%+40.3%+55.2%+60.5%+129%+234%25.8%0.78−59.6%—$201B—
SLB Oil & Gas Equipment & ServicesSlb N.V.0/5 short0/3 long−3.4%+8.3%−3.3%+26.4%+53.2%−7.2%+60.7%−21.3%37.5%0.44−84.5%—$74B—
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How did BP do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where BP ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with BP 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 BP; gray means the two finished within a fraction of a point. The rank row places BP among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of BP20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
BP This pageBP p.l.c.—+24.5%−11.9%+6.0%+37.0%+36.4%−41.3%+5.9%−4.6%+20.0%+28.8%−12.8%−17.6%+22.8%+2.0%+0.5%−22.7%+32.9%−32.5%+13.2%+8.0%+13.6%+22.2%+26.4%−9.5%−0.1%−17.1%+33.8%+17.8%+16.5%
Rank among alternativesTop quarter in 2 of 297 of 1812 of 1810 of 1812 of 1813 of 1815 of 1814 of 188 of 187 of 187 of 185 of 1812 of 188 of 1814 of 1813 of 1818 of 187 of 176 of 1613 of 1613 of 1612 of 1615 of 1614 of 1610 of 166 of 1514 of 146 of 143 of 1411 of 14
SPY S&P 500State Street SPDR S&P 500 ETF16 of 29+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%+20.4%+28.7%+33.5%
PBR Petróleo Brasileiro S.A. - Petrobras14 of 25+2.3%−2.9%+89.6%+55.4%+19.3%−29.0%+24.2%+27.7%+1.8%+135%−41.1%−45.1%−28.3%−20.0%−32.1%−18.1%+101%−55.6%+132%+51.1%+85.0%+43.9%+111%−32.0%−1.9%————
SU Suncor Energy Inc.19 of 29+29.7%+16.2%+6.0%+32.3%+55.0%−46.6%+22.1%−21.3%+15.8%+31.2%−16.3%−7.0%+8.6%+16.2%−23.8%+9.9%+82.6%−64.0%+38.4%+25.4%+79.0%+42.3%+61.2%−3.9%+29.7%+25.1%+42.2%−11.2%+68.4%
VLO Valero Energy Corporation19 of 29+37.0%−2.9%+5.9%+75.0%+40.3%−35.7%+30.3%−15.7%+40.0%+0.7%+46.8%+0.3%+65.0%+66.3%−7.8%+39.6%−20.3%−68.5%+37.9%−0.4%+128%+97.9%+26.6%−2.1%+3.6%+88.6%−4.8%−31.5%+209%
EQNR Equinor ASA15 of 24+7.7%−16.0%−0.8%+42.9%+64.6%−13.6%−1.0%+3.4%+23.4%+38.3%−16.6%−22.5%+1.4%+2.1%+12.7%−0.1%+57.8%−43.2%+22.8%+22.0%+51.4%+45.6%+43.8%+31.8%—————
E Eni S.p.A.15 of 29+49.0%−13.6%+27.5%+11.0%+44.9%−28.1%+4.8%+0.6%+9.2%+15.9%−8.8%−23.6%+4.8%+26.6%+1.0%−7.2%+13.4%−29.9%+12.9%+20.6%+10.8%+39.6%+28.8%+32.9%−1.5%+20.1%−16.4%+21.9%+13.9%
XOM Exxonmobil Holdings Corporation17 of 29+16.0%+11.3%−6.3%+87.4%+57.6%−36.2%+7.2%−15.1%−3.8%+19.9%−12.8%−6.0%+20.1%+4.7%+18.7%+10.1%−12.6%−13.1%+24.3%+39.1%+11.8%+28.1%+20.7%−8.9%−7.5%+10.2%+12.7%+22.5%+28.3%
EC Ecopetrol S.A.10 of 17+48.5%−24.6%+40.1%−5.0%+0.8%−29.3%+38.7%+13.5%+64.4%+28.9%−55.7%−52.3%−31.5%+41.5%+6.1%+85.1%+41.2%————————————
CVX Chevron Corporation18 of 29+10.1%+1.3%−13.6%+58.5%+46.2%−25.9%+15.3%−9.7%+10.6%+36.7%−16.2%−7.0%+19.3%+5.1%+20.3%+22.9%+8.1%−18.3%+30.5%+33.7%+11.5%+25.6%+35.4%−23.2%+9.4%+0.6%+7.2%+11.1%+22.1%
CVE Cenovus Energy Inc.8 of 16+15.8%−5.9%−12.3%+61.1%+105%−39.6%+47.2%−21.6%−38.6%+21.1%−36.1%−25.3%−11.9%+3.6%+2.3%+35.6%—————————————
COP ConocoPhillips17 of 29−2.3%−12.2%+2.0%+72.2%+87.1%−36.0%+6.6%+15.6%+11.9%+10.1%−29.0%+1.5%+27.1%+8.0%+11.0%+38.6%+2.8%−39.9%+25.4%+26.5%+36.9%+35.6%+39.8%−17.5%+8.6%+24.2%+13.6%−9.8%+13.1%
IMO Imperial Oil Limited19 of 29+43.8%+10.5%+20.6%+38.0%+95.3%−25.4%+7.2%−17.2%−8.8%+8.5%−23.5%−1.7%+4.0%−2.3%+10.9%+6.0%+15.8%−38.0%+49.9%+11.9%+69.7%+36.1%+58.5%+6.2%+9.3%+25.5%+40.3%−21.1%+41.9%
SHEL Shell plc13 of 29+22.2%−0.9%+20.2%+36.0%+28.4%−37.4%+7.7%−7.5%+31.0%+28.2%−27.1%−1.3%+9.0%−0.9%+14.8%+17.6%+20.9%−34.2%+23.5%+19.3%+12.8%+14.4%+24.5%−7.3%−17.1%+2.4%+29.8%−9.0%+30.7%
YPF YPF Sociedad Anónima12 of 29−14.9%+147%+87.1%+141%−18.7%−59.4%−12.9%−41.2%+39.5%+5.8%−40.3%−19.3%+128%−57.4%−24.8%+23.2%+5.2%+26.5%−5.7%−4.0%+27.4%+32.8%+246%−31.6%−25.3%−16.8%+35.4%−15.8%+39.3%
LNG Cheniere Energy, Inc.17 of 29−8.7%+27.2%+15.0%+49.3%+69.5%−1.7%+3.2%+9.9%+29.9%+11.2%−47.1%+63.3%+130%+116%+57.5%+128%−15.1%−91.3%+13.0%−22.4%+16.9%+444%+815%+28.0%−58.6%−16.1%−27.9%−51.5%−48.1%
WMB The Williams Companies, Inc.18 of 29+14.9%+62.4%+11.8%+32.9%+38.4%−8.2%+14.2%−23.9%+2.0%+31.2%−39.2%+21.3%+22.8%+29.9%+37.3%+20.2%+49.6%−58.8%+38.8%+14.3%+49.2%+106%+457%−75.2%−31.0%+32.3%−0.5%+11.4%+54.4%
TTE TotalEnergies SE20 of 29+27.6%−14.7%+14.1%+34.9%+26.0%−16.6%+10.3%−0.8%+14.3%+20.0%−7.0%−12.1%+25.0%+8.0%+1.7%−11.3%+22.6%−29.8%+18.9%+21.3%+18.8%+22.6%+33.4%+4.0%−1.3%+6.5%+41.6%−9.2%+41.4%
SLB Slb N.V.16 of 29+3.3%−24.5%−0.8%+81.1%+39.6%−43.8%+17.8%−44.7%−18.5%+23.5%−16.3%−3.6%+32.1%+3.0%−17.2%+30.0%+56.2%−56.5%+57.1%+31.1%+46.6%+23.8%+32.0%−22.2%−30.3%+43.9%+34.9%−41.6%+63.2%
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Risk and diversification

How BP 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 BP's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents BP's five deepest drawdowns since it began trading in 1986, 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 BP fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringBP fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Late-2018 sell-off−63.9%+25.4%May 2018Oct 20202.4 yearsFeb 20232.3 years
2008 financial crisis−60.7%−24.6%Nov 2007Jun 20102.6 yearsMay 20187.9 years
No named crash−44.5%—Aug 1990Nov 19922.3 yearsMay 199418 months
Dot-com bust−37.6%−37.5%Dec 1999Jan 20033.1 yearsApr 200415 months
No named crash−35.7%—Jul 1987Dec 19875 monthsFeb 19902.2 years

How did BP do in stock market crashes?

This section measures how far BP, 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 BP.

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
BP This pageBP p.l.c.—−4.2%−23.9%−55.5%−20.9%−5.0%−22.9%−23.9%−2.5%−53.4%−31.1%
SPY S&P 500State Street SPDR S&P 500 ETF6 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
PBR Petróleo Brasileiro S.A. - Petrobras1 of 9−7.6%−26.6%−71.2%−26.3%−8.4%−54.9%−37.6%−1.6%−80.1%—
SU Suncor Energy Inc.2 of 10−6.4%−36.6%−65.3%−34.0%−7.0%−34.7%−42.2%−0.2%−79.9%−25.4%
VLO Valero Energy Corporation1 of 10−3.5%−31.9%−61.3%−42.0%−6.9%−24.2%−35.6%−4.3%−80.7%−54.1%
EQNR Equinor ASA5 of 9−2.8%−24.5%−49.0%−29.1%−4.4%−34.9%−19.9%−1.0%−68.4%—
E Eni S.p.A.4 of 10−2.5%−33.7%−49.7%−23.2%−6.9%−30.6%−25.1%−1.1%−61.8%−22.9%
XOM Exxonmobil Holdings Corporation7 of 10−3.1%−20.5%−47.9%−23.6%−10.0%−15.0%−19.6%−0.3%−33.7%−33.6%
EC Ecopetrol S.A.2 of 8−8.4%−48.6%−67.3%−44.6%−12.6%−49.1%−15.5%−0.3%——
CVX Chevron Corporation8 of 10−2.6%−24.9%−51.0%−19.6%−5.3%−18.5%−17.2%−0.1%−43.8%−29.5%
CVE Cenovus Energy Inc.1 of 8−7.1%−40.4%−82.3%−37.9%−16.4%−42.5%−26.3%−0.9%——
COP ConocoPhillips2 of 10−6.1%−33.0%−61.8%−28.3%−9.4%−43.4%−19.0%−0.8%−62.4%−31.7%
IMO Imperial Oil Limited2 of 10−5.1%−29.7%−67.5%−27.3%−6.9%−29.0%−28.8%0.0%−60.8%−20.8%
SHEL Shell plc2 of 10−3.7%−25.0%−57.0%−19.1%−6.3%−35.9%−19.6%−2.6%−53.7%−36.2%
YPF YPF Sociedad Anónima2 of 10−17.8%−45.2%−73.5%−27.3%−8.9%−48.7%−22.0%−1.6%−65.2%−75.8%
LNG Cheniere Energy, Inc.4 of 10−1.3%−17.8%−46.1%−21.3%−5.1%−66.5%−62.4%0.0%−97.7%−84.4%
WMB The Williams Companies, Inc.2 of 10−3.4%−23.0%−57.0%−25.4%−7.0%−78.9%−26.7%−3.4%−75.3%−98.0%
TTE TotalEnergies SE4 of 10−4.5%−24.6%−49.3%−22.2%−5.4%−21.5%−26.0%−2.1%−50.8%−25.1%
SLB Slb N.V.0 of 10−8.8%−36.8%−64.9%−43.6%−10.9%−27.1%−38.9%−3.8%−68.0%−59.8%
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How closely does BP 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 BP 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 BP's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
BP This pageBP p.l.c.58%62%0.940.51
LNG Cheniere Energy, Inc.79%30%2.650.77
PBR Petróleo Brasileiro S.A. - Petrobras104%63%1.660.99
EQNR Equinor ASA79%52%1.510.62
SHEL Shell plc60%43%1.400.45
VLO Valero Energy Corporation142%114%1.241.31
TTE TotalEnergies SE69%57%1.220.51
E Eni S.p.A.79%69%1.150.70
WMB The Williams Companies, Inc.85%78%1.081.02
IMO Imperial Oil Limited110%105%1.041.18
COP ConocoPhillips94%92%1.020.91
SU Suncor Energy Inc.90%90%1.000.96
XOM Exxonmobil Holdings Corporation78%83%0.940.76
EC Ecopetrol S.A.127%139%0.911.13
CVX Chevron Corporation86%94%0.910.89
CVE Cenovus Energy Inc.124%173%0.721.69
YPF YPF Sociedad Anónima144%206%0.701.58
SLB Slb N.V.104%212%0.491.54
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What diversifies BP?

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

ETFs

InvestmentCorrelation5Y returnSharpe202420202018201520142010200820022001200080/20 mix volatility80/20 mix annual return
BP BP p.l.c. (this page)1.00+110%0.66−11.9%−41.3%−4.6%−12.8%−17.6%−22.7%−32.5%−9.5%−0.1%−17.1%28.0%+15.6%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.16+225%1.34+29.8%+3.9%−19.8%+7.7%+8.1%−1.8%−20.8%———22.9%+18.5%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.40+101%1.04+33.4%−13.4%−8.7%−25.3%+23.8%—————23.7%+16.2%
HDV Dividend & IncomeiShares Core High Dividend ETF0.49+83.3%1.00+14.1%−6.5%−3.0%−0.3%+12.6%—————23.9%+15.4%
SMH TechnologyVanEck Semiconductor ETF-0.13+323%0.97+39.1%+55.5%−9.1%−0.3%+30.2%+19.0%−44.7%−47.0%−14.6%—22.6%+21.7%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.24+85.0%0.96+13.4%+2.1%−9.5%+4.1%+3.4%—————23.0%+15.9%
GLD CommoditiesSPDR Gold Shares-0.10+126%0.96+26.7%+24.8%−1.9%−10.7%−2.2%+29.3%+4.9%———22.3%+17.2%
SPMO Broad MarketInvesco S&P 500 Momentum ETF-0.05+136%0.93+45.8%+28.2%−0.9%———————22.5%+17.9%
DFIV InternationalDimensional - International Value ETF0.47+99.4%0.93+7.2%—————————24.0%+16.1%

Stocks

InvestmentCorrelation5Y returnSharpe202420202018201520142010200820022001200080/20 mix volatility80/20 mix annual return
BP BP p.l.c. (this page)1.00+110%0.66−11.9%−41.3%−4.6%−12.8%−17.6%−22.7%−32.5%−9.5%−0.1%−17.1%28.0%+15.6%
CAH Medical - DistributionCardinal Health, Inc.0.00+479%1.55+19.0%+10.1%−24.5%+12.6%+23.0%+21.4%−39.6%−8.3%−2.5%+108%23.0%+21.1%
CLS Hardware, Equipment & PartsCelestica Inc.0.09+3,143%1.47+215%−2.4%−16.3%−6.0%+12.9%+2.8%−20.5%−65.1%−25.6%−2.3%26.2%+34.1%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.04+1,636%1.46+107%+6.7%+0.8%+67.7%−10.4%+8.7%−15.2%−9.4%+73.7%−71.1%24.4%+30.1%
MCK Medical - DistributionMcKesson Corporation0.10+413%1.44+23.7%+27.1%−28.4%−4.5%+29.3%+13.8%−40.4%−27.2%+4.9%+61.2%23.4%+20.3%
HWM Aerospace & DefenseHowmet Aerospace Inc.0.09+594%1.36+103%−7.2%−37.5%−36.3%+50.9%−2.8%−67.4%−33.1%+9.8%−15.9%24.0%+23.3%
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Common questions

What was BP's worst drawdown?

BP's deepest decline since it began trading in 1986 was 63.9%, from May 2018 to October 2020. It took 28 months from the low to climb back to its old high.

What were BP's best and worst years?

Over 29 full calendar years, BP's best year was 2022, when it returned 37.0%. Its worst was 2020, with a return of -41.3%.

Is there a better investment than BP?

Among BP's popular alternatives, CVX, XOM and SHEL earned more than BP with less volatility over the past 5 years. CVX returned 19.5% a year at 25.2% volatility, against 16.0% a year at 28.7%. Looking beyond its popular alternatives, PAA (oil & gas midstream) and PAGP (oil & gas midstream) earned more than BP with less volatility over the past 5 years. PAA returned 27.0% a year at 25.6% volatility, against 16.0% a year at 28.7%.

Is BP more volatile than the S&P 500?

Yes. BP's volatility over the past 5 years was 28.7%, 1.7 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BP's return lands within 28.7% 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 BP's Sharpe ratio?

BP's Sharpe ratio over the past 5 years was 0.66, against 0.79 for the S&P 500, so BP 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 BP with the S&P 500?

Over the past 5 years, BP's monthly returns had a correlation of 0.12 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 BP instead: the lower it is, the more that option would diversify a BP holding.

What are the best alternatives to BP?

Of the 17 popular alternatives we compared, ten outperformed BP in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: PBR, SU and VLO.

Did BP outperform the S&P 500?

BP finished ahead of the S&P 500 (SPY) in 12 of 29 full calendar years. In 2025, it returned +24.5%, against +17.7% for the index.

How did BP do in stock market crashes?

BP fell less than the S&P 500 (SPY) in four of the ten major crashes it has traded through, and further in six. The clearest case was the Covid crash, when BP fell 55.5% and the S&P 500 fell 33.7%.

What diversifies BP?

These had a low correlation with BP over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.16), EMLP (correlation 0.40) and HDV (correlation 0.49); among large stocks, CAH (correlation -0.00), CLS (correlation 0.09) and FIX (correlation 0.04). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to BP