EasyCompare

Relative Intelligence · Alcoholic Beverages

How Anheuser-Busch InBev SA/NV (BUD) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on BUD alone. It places BUD (Anheuser-Busch InBev SA/NV) against 13 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 BUD stands in the market, and of the alternatives worth a closer look.

Period covered: BUD's full trading record, from July 2009 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

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

Rank the market against BUD →Chart BUD vs. 13 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in BUD over the past 17 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of BUD over the same span and BUD's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Note: BUD began trading on July 1, 2009, so the chart cannot reach back to the dot-com bust or the 2008 financial crisis. It covers the most recent 17 years of BUD's record, starting at the end of September 2009.

Choose a period

From the end of September 2009 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. 1,536 of the 1,927 stocks and funds worth at least $500 million that traded the whole period ended ahead of BUD; 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$200,000200920122015201820212024$10,000$20,000$50,000$100,000$200,00020092013201720212025
  • KDP$348,396+3,384% total · +23.2% a year
  • SPY (S&P 500)$97,560+876% total · +14.3% a year
  • STZ$89,023+790% total · +13.7% a year
  • KO$53,867+439% total · +10.4% a year
  • BALL$53,770+438% total · +10.4% a year
  • SAM$44,235+342% total · +9.1% a year
  • PEP$36,163+262% total · +7.9% a year
  • BF-B$27,901+179% total · +6.2% a year
  • BUD$22,952+130% total · +5.0% a year
  • DEO$21,893+119% total · +4.7% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,750 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of BUD; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$5,000$10,000$15,000$20,000$25,000202120222023202420252026$0$10,000$20,000$30,000202120222023202420252026
  • KOF$23,968+140% total · +19.1% a year
  • CCEP$21,567+116% total · +16.6% a year
  • PKG$19,327+93.3% total · +14.1% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • KO$18,994+89.9% total · +13.7% a year
  • MNST$18,739+87.4% total · +13.4% a year
  • BUD$14,007+40.1% total · +7.0% a year
  • KDP$10,143+1.4% total · +0.3% a year
  • DEO$5,025−49.8% total · −12.9% a year
  • BF-B$4,389−56.1% total · −15.2% a year
Change the dates or add tickers to this chart in EasyCompare

BUD at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

Note: BUD began trading on July 1, 2009, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust or the 2008 financial crisis.

The company

Market value
$166B
Industry
Beverages - Alcoholic
Price history from
July 2009

Returns

Past 1 year
+36.7%total return
Past 3 years
+66.6%+18.5% a year
Past 5 years
+58.7%+9.7% a year
Past 10 years
−20.0%−2.2% a year
Best calendar year
+46.5%2012
Worst calendar year
−38.8%2018
Losing years
5 of 16full calendar years

Risk

Volatility
25.0%typical yearly swing, 5 years
Sharpe ratio
0.50return per unit of risk, 5 years
Worst decline ever
−70.5%Sep 2016 to Mar 2020
From its all-time high
−23.6%below the peak

BUD against the whole market

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

How does BUD rank among all stocks?

This section ranks BUD 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 BUD 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.

MeasureBUDRankStanding
1-year return+36.7%811 of 3,287top 25%
3-year return+66.6%1,307 of 3,017top 43%
5-year return+58.7%1,014 of 2,893top 35%
10-year return−20.0%1,909 of 2,202bottom 14%
Volatility, 5 years25.0%322 of 2,893top 11%
Sharpe ratio, 5 years0.50933 of 2,893top 32%
Worst decline, past 10 years−69.8%1,286 of 2,187bottom 42%

What has beaten BUD 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). BUD sits where the dashed lines cross. Anything in the green box above and to the left earned more than BUD 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 BUD; faint dots are 91 more of the 331 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.

7.5%10.0%12.5%15.0%17.5%20.0%22.5%25.0%27.5%−20.0%−10.0%0.0%10.0%20.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than BUDTHG: +14.4% a year, volatility 22.9%ABBV: +26.1% a year, volatility 23.4%IWX: +12.7% a year, volatility 13.8%V: +12.8% a year, volatility 22.9%LTC: +11.3% a year, volatility 21.1%TD: +15.8% a year, volatility 20.0%BNS: +12.9% a year, volatility 19.9%IWD: +11.4% a year, volatility 14.7%VOO: +12.8% a year, volatility 16.9%EBF: +11.2% a year, volatility 21.4%TAK: +11.9% a year, volatility 19.4%SDCI: +20.6% a year, volatility 18.4%DGX: +12.3% a year, volatility 22.5%JQUA: +13.6% a year, volatility 15.7%SEIC: +12.7% a year, volatility 22.3%GLD: +17.7% a year, volatility 18.9%PDBC: +11.7% a year, volatility 19.3%CB: +15.7% a year, volatility 20.4%MO: +17.8% a year, volatility 21.4%IXC: +20.7% a year, volatility 23.2%FTGC: +12.9% a year, volatility 15.6%IWF: +11.7% a year, volatility 21.8%SO: +11.3% a year, volatility 18.8%RSG: +13.9% a year, volatility 18.5%DIVB: +13.9% a year, volatility 15.4%RY: +17.3% a year, volatility 18.2%ETR: +19.2% a year, volatility 22.4%AEP: +12.4% a year, volatility 20.2%CHCO: +15.9% a year, volatility 22.8%QUAL: +11.4% a year, volatility 17.3%ED: +12.0% a year, volatility 18.8%VFMF: +14.3% a year, volatility 17.6%COMT: +13.1% a year, volatility 21.1%ATO: +14.9% a year, volatility 18.4%PPH: +11.6% a year, volatility 15.8%CRAK: +19.8% a year, volatility 20.9%FTXH: +11.9% a year, volatility 16.9%HLAL: +14.0% a year, volatility 18.0%XLI: +11.5% a year, volatility 17.6%NANR: +17.4% a year, volatility 22.6%L: +14.3% a year, volatility 19.2%DJP: +11.2% a year, volatility 18.9%NI: +15.1% a year, volatility 20.3%DGRW: +11.8% a year, volatility 14.0%SPHQ: +12.0% a year, volatility 16.7%MGV: +12.6% a year, volatility 13.4%NXTG: +16.2% a year, volatility 19.1%QVAL: +13.7% a year, volatility 21.4%RWL: +13.7% a year, volatility 14.4%PJP: +11.2% a year, volatility 16.6%PNW: +13.4% a year, volatility 19.9%FDL: +13.9% a year, volatility 14.4%ORI: +17.0% a year, volatility 22.2%WMT: +20.8% a year, volatility 22.6%WTM: +15.4% a year, volatility 23.6%LVHI: +17.0% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%PWV: +13.5% a year, volatility 14.2%NVS: +17.1% a year, volatility 20.7%DHS: +12.0% a year, volatility 13.9%TJX: +19.9% a year, volatility 22.3%DBA: +10.7% a year, volatility 13.8%LIN: +11.5% a year, volatility 20.9%BTI: +18.7% a year, volatility 22.0%FTQI: +11.5% a year, volatility 14.8%EQL: +13.5% a year, volatility 14.5%PBA: +13.8% a year, volatility 21.5%CM: +19.2% a year, volatility 21.6%EPD: +16.4% a year, volatility 17.1%COR: +24.2% a year, volatility 22.8%BMO: +13.6% a year, volatility 21.4%FXU: +11.2% a year, volatility 16.6%KMI: +18.7% a year, volatility 22.5%CME: +11.2% a year, volatility 20.8%GD: +12.9% a year, volatility 20.8%DFAC: +11.4% a year, volatility 17.0%AFL: +19.0% a year, volatility 20.8%ORLY: +15.9% a year, volatility 23.4%MSI: +14.8% a year, volatility 23.6%NGG: +11.8% a year, volatility 22.6%FJAN: +11.1% a year, volatility 10.5%AME: +14.4% a year, volatility 22.1%DYNF: +14.7% a year, volatility 17.5%SLF: +11.7% a year, volatility 19.4%HIG: +15.6% a year, volatility 22.0%EFV: +13.6% a year, volatility 15.9%WRB: +18.9% a year, volatility 22.9%FNDF: +13.6% a year, volatility 16.3%SPMO: +18.7% a year, volatility 20.8%IUSG: +12.9% a year, volatility 21.2%AVLV: +14.0% a year, volatility 16.9%BUD: +9.7% a year, volatility 25.0%SPY (S&P 500): +12.7% a year, volatility 17.1%KO: +14.7% a year, volatility 16.8%PEP: −0.5% a year, volatility 19.1%KDP: +2.5% a year, volatility 22.1%DEO: −11.9% a year, volatility 25.6%CCEP: +19.7% a year, volatility 23.2%KOF: +22.3% a year, volatility 24.7%PKG: +15.4% a year, volatility 25.8%MNST: +17.2% a year, volatility 24.9%SJM: +4.8% a year, volatility 25.1%AVY: −1.9% a year, volatility 25.1%BRK-B: +13.4% a year, volatility 17.1%JNJ: +12.7% a year, volatility 17.9%PM: +21.0% a year, volatility 23.4%TRV: +22.4% a year, volatility 22.3%CTAS: +16.5% a year, volatility 23.1%HDV: +12.9% a year, volatility 13.0%FAST: +15.8% a year, volatility 24.6%VIG: +10.4% a year, volatility 14.1%DXJ: +26.6% a year, volatility 19.1%BUDSPY (S&P 500)KOPEPKDPDEOCCEPKOFPKGMNSTSJMAVYBRK-BPMTRVCTASHDVVIGDXJ5.0%10.0%15.0%20.0%25.0%30.0%−20.0%−10.0%0.0%10.0%20.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than BUDTHG: +14.4% a year, volatility 22.9%ABBV: +26.1% a year, volatility 23.4%IWX: +12.7% a year, volatility 13.8%V: +12.8% a year, volatility 22.9%LTC: +11.3% a year, volatility 21.1%TD: +15.8% a year, volatility 20.0%BNS: +12.9% a year, volatility 19.9%IWD: +11.4% a year, volatility 14.7%VOO: +12.8% a year, volatility 16.9%EBF: +11.2% a year, volatility 21.4%TAK: +11.9% a year, volatility 19.4%SDCI: +20.6% a year, volatility 18.4%DGX: +12.3% a year, volatility 22.5%JQUA: +13.6% a year, volatility 15.7%SEIC: +12.7% a year, volatility 22.3%GLD: +17.7% a year, volatility 18.9%PDBC: +11.7% a year, volatility 19.3%CB: +15.7% a year, volatility 20.4%MO: +17.8% a year, volatility 21.4%IXC: +20.7% a year, volatility 23.2%FTGC: +12.9% a year, volatility 15.6%IWF: +11.7% a year, volatility 21.8%SO: +11.3% a year, volatility 18.8%RSG: +13.9% a year, volatility 18.5%DIVB: +13.9% a year, volatility 15.4%RY: +17.3% a year, volatility 18.2%ETR: +19.2% a year, volatility 22.4%AEP: +12.4% a year, volatility 20.2%CHCO: +15.9% a year, volatility 22.8%QUAL: +11.4% a year, volatility 17.3%ED: +12.0% a year, volatility 18.8%VFMF: +14.3% a year, volatility 17.6%COMT: +13.1% a year, volatility 21.1%ATO: +14.9% a year, volatility 18.4%PPH: +11.6% a year, volatility 15.8%CRAK: +19.8% a year, volatility 20.9%FTXH: +11.9% a year, volatility 16.9%HLAL: +14.0% a year, volatility 18.0%XLI: +11.5% a year, volatility 17.6%NANR: +17.4% a year, volatility 22.6%L: +14.3% a year, volatility 19.2%DJP: +11.2% a year, volatility 18.9%NI: +15.1% a year, volatility 20.3%DGRW: +11.8% a year, volatility 14.0%SPHQ: +12.0% a year, volatility 16.7%MGV: +12.6% a year, volatility 13.4%NXTG: +16.2% a year, volatility 19.1%QVAL: +13.7% a year, volatility 21.4%RWL: +13.7% a year, volatility 14.4%PJP: +11.2% a year, volatility 16.6%PNW: +13.4% a year, volatility 19.9%FDL: +13.9% a year, volatility 14.4%ORI: +17.0% a year, volatility 22.2%WMT: +20.8% a year, volatility 22.6%WTM: +15.4% a year, volatility 23.6%LVHI: +17.0% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%PWV: +13.5% a year, volatility 14.2%NVS: +17.1% a year, volatility 20.7%DHS: +12.0% a year, volatility 13.9%TJX: +19.9% a year, volatility 22.3%DBA: +10.7% a year, volatility 13.8%LIN: +11.5% a year, volatility 20.9%BTI: +18.7% a year, volatility 22.0%FTQI: +11.5% a year, volatility 14.8%EQL: +13.5% a year, volatility 14.5%PBA: +13.8% a year, volatility 21.5%CM: +19.2% a year, volatility 21.6%EPD: +16.4% a year, volatility 17.1%COR: +24.2% a year, volatility 22.8%BMO: +13.6% a year, volatility 21.4%FXU: +11.2% a year, volatility 16.6%KMI: +18.7% a year, volatility 22.5%CME: +11.2% a year, volatility 20.8%GD: +12.9% a year, volatility 20.8%DFAC: +11.4% a year, volatility 17.0%AFL: +19.0% a year, volatility 20.8%ORLY: +15.9% a year, volatility 23.4%MSI: +14.8% a year, volatility 23.6%NGG: +11.8% a year, volatility 22.6%FJAN: +11.1% a year, volatility 10.5%AME: +14.4% a year, volatility 22.1%DYNF: +14.7% a year, volatility 17.5%SLF: +11.7% a year, volatility 19.4%HIG: +15.6% a year, volatility 22.0%EFV: +13.6% a year, volatility 15.9%WRB: +18.9% a year, volatility 22.9%FNDF: +13.6% a year, volatility 16.3%SPMO: +18.7% a year, volatility 20.8%IUSG: +12.9% a year, volatility 21.2%AVLV: +14.0% a year, volatility 16.9%BUD: +9.7% a year, volatility 25.0%SPY (S&P 500): +12.7% a year, volatility 17.1%KO: +14.7% a year, volatility 16.8%PEP: −0.5% a year, volatility 19.1%KDP: +2.5% a year, volatility 22.1%DEO: −11.9% a year, volatility 25.6%CCEP: +19.7% a year, volatility 23.2%KOF: +22.3% a year, volatility 24.7%PKG: +15.4% a year, volatility 25.8%MNST: +17.2% a year, volatility 24.9%SJM: +4.8% a year, volatility 25.1%AVY: −1.9% a year, volatility 25.1%BRK-B: +13.4% a year, volatility 17.1%JNJ: +12.7% a year, volatility 17.9%PM: +21.0% a year, volatility 23.4%TRV: +22.4% a year, volatility 22.3%CTAS: +16.5% a year, volatility 23.1%HDV: +12.9% a year, volatility 13.0%FAST: +15.8% a year, volatility 24.6%VIG: +10.4% a year, volatility 14.1%DXJ: +26.6% a year, volatility 19.1%BUDSPY (S&P 500)KOPEPKDPDEOCCEPKOFPKGMNSTSJMAVYPMTRVHDVVIGDXJ
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than BUD?

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

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

Screen the whole market against BUD for any period in BetterThanSPYOpen these 19 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 BUD?lower diversifies moreExpenseper year
BUDAnheuser-Busch InBev SA/NV · this page
+9.7%25.0%0.50−69.8%−20.0%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.330.09%
Popular alternativesbest 4 shownThe investments people most often weigh against BUD. 4 of 13 passed at least one test.
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%0.73—
PEPPepsiCo, Inc. · Food & Beverages
Smaller losses in recent crashes−0.5%19.1%0.07−30.3%+72.6%0.42—
KDPKeurig Dr Pepper Inc. · Food & Beverages
Smaller losses in recent crashes+2.5%22.1%0.23−36.9%+281%0.47—
DEODiageo plc · Alcoholic Beverages
Smaller losses in recent crashes−11.9%25.6%-0.37−63.4%+11.7%0.44—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Alcoholic Beverages and the categories next to it (Food & Beverages, Packaging), plus BUD's specific themes. 12 of 30 passed at least one test.
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+19.7%23.2%0.90−48.8%+292%0.52—
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+22.3%24.7%0.94−55.1%+119%0.64—
PKGPackaging Corporation of America · Packaging
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+15.4%25.8%0.69−38.2%+294%0.41—
MNSTMonster Beverage Corporation · Food & Beverages
Higher return, similar volatilityHigher Sharpe, smaller worst decline+17.2%24.9%0.77−30.4%+285%0.52—
SJMThe J. M. Smucker Company · Packaged Foods
Smaller losses in recent crashes+4.8%25.1%0.32−38.1%+37.2%0.33—
AVYAvery Dennison Corporation · Packaging
Smaller losses in recent crashes−1.9%25.1%0.05−43.5%+182%0.50—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,050 of 3,591 passed at least one test.
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%0.42—
JNJJohnson & Johnson · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+12.7%17.9%0.76−27.4%+196%0.35—
PMPhilip Morris International Inc. · Tobacco
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+21.0%23.4%0.94−42.9%+242%0.65—
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+22.4%22.3%1.02−46.3%+347%0.40—
CTASCintas Corporation · Business Services
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+16.5%23.1%0.78−48.4%+808%0.37—
HDViShares Core High Dividend ETF · US Dividend Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+12.9%13.0%1.00−37.0%+172%0.540.08%
FASTFastenal Company · Industrial Distribution
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+15.8%24.6%0.72−30.7%+576%0.18—
VIGVanguard Dividend Appreciation ETF · US Dividend Equity
Similar return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+10.4%14.1%0.78−31.7%+258%0.470.04%
What these numbers mean for BUD
Annual return
BUD returned 9.7% 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 $15,900. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
BUD's volatility over the past 5 years was 25.0%, 1.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BUD's return lands within 25.0% 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
BUD's Sharpe ratio over the past 5 years was 0.50, against 0.79 for the S&P 500, so BUD 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
BUD's worst fall from a peak to a low over the past 10 years was 69.8%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 69.8% fall takes a 232% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, BUD's monthly returns had a correlation of 0.33 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 BUD instead: the lower it is, the more that option would diversify a BUD holding. Guide: Correlation and diversification →
Show all 331 stocks and funds worth at least $500 million that earned more than BUD 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 BUDExpense
1
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.42—
2
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%0.35—
3
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.65—
4
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.40—
5
CTASCintas Corporation · Business Services
Whole market+16.5%23.1%0.78−48.4%+808%0.37—
6
HDViShares Core High Dividend ETF · US Dividend Equity
Whole market+12.9%13.0%1.00−37.0%+172%0.540.08%
7
KOThe Coca-Cola Company · Food & Beverages
Popular alternative+14.7%16.8%0.91−37.0%+204%0.73—
8
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance
Whole market+14.4%22.9%0.70−40.1%+291%0.33—
9
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.35—
10
IWXiShares Russell Top 200 Value ETF · Broad Market
Whole market+12.7%13.8%0.94−35.8%+221%0.520.20%
11
VVisa Inc. · Payment Processing
Whole market+12.8%22.9%0.64−36.4%+429%0.40—
12
LTCLTC Properties, Inc. · REIT - Healthcare Facilities
Whole market+11.3%21.1%0.62−51.4%+51.7%0.27—
13
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.47—
14
BNSThe Bank of Nova Scotia · Banks
Whole market+12.9%19.9%0.71−46.9%+187%0.45—
15
IWDiShares Russell 1000 Value ETF · US Large-Cap Value
Whole market+11.4%14.7%0.81−38.5%+205%0.490.18%
16
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.330.03%
17
EBFEnnis, Inc. · Specialty Business Services
Whole market+11.2%21.4%0.60−35.4%+163%0.25—
18
TAKTakeda Pharmaceutical Company Limited · Pharmaceuticals
Whole market+11.9%19.4%0.68−54.4%+30.4%0.40—
19
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.090.80%
20
DGXQuest Diagnostics Incorporated · Medical Diagnostics
Whole market+12.3%22.5%0.63−36.6%+243%0.45—
21
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Whole market+13.6%15.7%0.89−32.9%—0.380.12%
22
SEICSEI Investments Company · Asset Management
Whole market+12.7%22.3%0.65−51.8%+168%0.26—
23
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Same or nearby category+19.7%23.2%0.90−48.8%+292%0.52—
24
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.350.40%
25
PDBCInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF · Broad Commodities
Whole market+11.7%19.3%0.67−40.7%+153%0.050.74%
26
CBChubb Limited · Property & Casualty Insurance
Whole market+15.7%20.4%0.82−42.6%+248%0.51—
27
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%0.32—
28
IXCiShares Global Energy ETF · International
Whole market+20.7%23.2%0.93−64.2%+183%0.250.37%
29
FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives
Whole market+12.9%15.6%0.86−35.9%+139%0.090.98%
30
IWFiShares Russell 1000 Growth ETF · US Large-Cap Growth
Whole market+11.7%21.8%0.62−32.7%+416%0.160.18%
31
SOThe Southern Company · Electric Utilities
Whole market+11.3%18.8%0.67−38.4%+170%0.40—
32
RSGRepublic Services, Inc. · Environmental Services
Whole market+13.9%18.5%0.80−34.0%+446%0.27—
33
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.490.05%
34
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.49—
35
ETREntergy Corporation · Electric Utilities
Whole market+19.2%22.4%0.90−42.0%+311%0.29—
36
AEPAmerican Electric Power Company, Inc. · Electric Utilities
Whole market+12.4%20.2%0.68−32.9%+185%0.42—
37
CHCOCity Holding Company · Banks - Regional
Whole market+15.9%22.8%0.77−32.3%+286%0.21—
38
QUALiShares MSCI USA Quality Factor ETF · US Quality Equity
Whole market+11.4%17.3%0.71−34.1%+293%0.390.15%
39
EDConsolidated Edison, Inc. · Electric Utilities
Whole market+12.0%18.8%0.70−30.9%+114%0.41—
40
VFMFVanguard U.S. Multifactor ETF · Broad Market
Whole market+14.3%17.6%0.85−41.3%—0.380.18%
41
COMTiShares GSCI Commodity Dynamic Roll Strategy ETF · Commodities
Whole market+13.1%21.1%0.69−39.2%+160%-0.040.49%
42
ATOAtmos Energy Corporation · Gas Utilities
Whole market+14.9%18.4%0.85−32.9%+194%0.40—
43
PPHVanEck Pharmaceutical ETF · Healthcare
Whole market+11.6%15.8%0.78−29.7%+153%0.580.36%
44
CRAKVanEck Oil Refiners ETF · Energy
Whole market+19.8%20.9%0.97−58.8%+336%0.280.61%
45
FTXHFirst Trust Nasdaq Pharmaceuticals ETF · Healthcare
Whole market+11.9%16.9%0.75−32.1%+153%0.350.60%
46
HLALWahed FTSE USA Shariah ETF · Broad Market
Whole market+14.0%18.0%0.82−33.6%—0.280.50%
47
XLIState Street Industrial Select Sector SPDR ETF · US Industrials
Whole market+11.5%17.6%0.71−42.3%+246%0.480.08%
48
NANRState Street SPDR S&P North American Natural Resources ETF · Broad Market
Whole market+17.4%22.6%0.83−49.1%+241%0.380.35%
49
LLoews Corporation · Property & Casualty Insurance
Whole market+14.3%19.2%0.80−48.5%+180%0.36—
50
DJPiPath Bloomberg Commodity Index Total Return(SM) ETN · Commodities
Whole market+11.2%18.9%0.66−38.4%+120%0.160.70%
51
NINiSource Inc · Gas Utilities
Whole market+15.1%20.3%0.80−30.9%+158%0.42—
52
DGRWWisdomTree U.S. Quality Dividend Growth Fund · US Dividend Equity
Whole market+11.8%14.0%0.87−32.0%+276%0.450.28%
53
SPHQInvesco S&P 500 Quality ETF · US Quality Equity
Whole market+12.0%16.7%0.76−31.6%+300%0.470.20%
54
MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value
Whole market+12.6%13.4%0.95−35.4%+244%0.510.05%
55
NXTGFirst Trust Indxx NextG ETF · Technology
Whole market+16.2%19.1%0.89−33.6%+330%0.440.70%
56
QVALAlpha Architect U.S. Quantitative Value ETF · Broad Market
Whole market+13.7%21.4%0.71−51.5%+230%0.380.28%
57
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity
Whole market+13.7%14.4%0.97−36.1%+287%0.450.39%
58
PJPInvesco Pharmaceuticals ETF · Healthcare
Whole market+11.2%16.6%0.72−34.0%+135%0.330.58%
59
PNWPinnacle West Capital Corporation · Electric Utilities
Whole market+13.4%19.9%0.73−39.3%+103%0.37—
60
FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity
Whole market+13.9%14.4%0.98−41.4%+199%0.510.43%
61
ORIOld Republic International Corporation · Property & Casualty Insurance
Whole market+17.0%22.2%0.82−47.8%+349%0.37—
62
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.21—
63
WTMWhite Mountains Insurance Group, Ltd. · Insurance
Whole market+15.4%23.6%0.73−40.2%+169%-0.02—
64
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.250.48%
65
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.600.40%
66
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.25—
67
PWVInvesco Large Cap Value ETF · Broad Market
Whole market+13.5%14.2%0.97−37.6%+223%0.490.55%
68
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.63—
69
DHSWisdomTree U.S. High Dividend Fund · Dividend & Income
Whole market+12.0%13.9%0.89−37.4%+156%0.490.38%
70
TJXThe TJX Companies, Inc. · Specialty Retail
Whole market+19.9%22.3%0.93−42.5%+361%0.29—
71
DBAInvesco DB Agriculture Fund · Alternatives
Whole market+10.7%13.8%0.81−35.3%+62.2%0.060.90%
72
LINLinde plc · Chemicals
Whole market+11.5%20.9%0.63−32.6%+394%0.49—
73
BTIBritish American Tobacco p.l.c. · Tobacco
Whole market+18.7%22.0%0.90−56.1%+98.2%0.31—
74
FTQIFirst Trust Nasdaq BuyWrite Income ETF · Dividend & Income
Whole market+11.5%14.8%0.82−19.4%+121%0.190.75%
75
EQLALPS Equal Sector Weight ETF · Broad Market
Whole market+13.5%14.5%0.94−34.2%+387%0.480.19%
76
PBAPembina Pipeline Corporation · Oil & Gas Midstream
Whole market+13.8%21.5%0.71−70.9%+172%0.50—
77
CMCanadian Imperial Bank of Commerce · Banks
Whole market+19.2%21.6%0.93−47.3%+395%0.42—
78
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Whole market+16.4%17.1%0.98−58.1%+178%0.15—
79
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.28—
80
BMOBank of Montreal · Banks
Whole market+13.6%21.4%0.71−51.0%+295%0.47—
81
FXUFirst Trust Utilities AlphaDEX Fund · Utilities
Whole market+11.2%16.6%0.72−34.8%+138%0.470.61%
82
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Whole market+18.7%22.5%0.88−55.1%+163%0.26—
83
CMECME Group Inc. · Capital Markets
Whole market+11.2%20.8%0.62−37.4%+319%0.29—
84
GDGeneral Dynamics Corporation · Aerospace & Defense
Whole market+12.9%20.8%0.69−51.6%+184%0.40—
85
DFACDimensional - US Core Equity 2 ETF · US Total Market
Whole market+11.4%17.0%0.72−23.1%—0.360.21%
86
AFLAflac Incorporated · Life Insurance
Whole market+19.0%20.8%0.95−54.9%+335%0.44—
87
ORLYO'Reilly Automotive, Inc. · Specialty Retail
Whole market+15.9%23.4%0.75−42.0%+393%0.08—
88
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+14.8%23.6%0.71−32.8%+625%0.26—
89
NGGNational Grid plc · Electric Utilities
Whole market+11.8%22.6%0.61−39.2%+118%0.56—
90
FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset
Whole market+11.1%10.5%1.05−13.6%—0.350.85%
91
AMEAMETEK, Inc. · Electronic Instruments
Whole market+14.4%22.1%0.72−42.7%+481%0.35—
92
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Whole market+14.7%17.5%0.87−34.7%—0.290.26%
93
SLFSun Life Financial Inc. · Life Insurance
Whole market+11.7%19.4%0.67−50.8%+255%0.48—
94
HIGThe Hartford Insurance Group, Inc. · Property & Casualty Insurance
Whole market+15.6%22.0%0.77−57.6%+294%0.41—
95
EFViShares MSCI EAFE Value ETF · International Equity
Whole market+13.6%15.9%0.88−43.2%+157%0.720.31%
96
WRBW. R. Berkley Corporation · Property & Casualty Insurance
Whole market+18.9%22.9%0.87−45.3%+443%0.29—
97
FNDFSchwab Fundamental International Large Company Index ETF · International Equity
Whole market+13.6%16.3%0.87−40.2%+194%0.690.25%
98
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%0.290.13%
99
IUSGiShares Core S&P U.S. Growth ETF · US Growth Equity
Whole market+12.9%21.2%0.68−32.4%+405%0.210.04%
100
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Whole market+14.0%16.9%0.86−19.5%—0.390.15%

BUD against its popular alternatives

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

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

Green points earned more than BUD 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%−25.0%−20.0%−15.0%−10.0%−5.0%0.0%5.0%10.0%15.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityBUD: 9.7% a year, volatility 25.0%SPY (S&P 500): 12.7% a year, volatility 17.1%KO: 14.7% a year, volatility 16.8%DEO: −11.9% a year, volatility 25.6%BF-B: −14.7% a year, volatility 30.8%AMBP: −5.8% a year, volatility 42.8%BALL: −5.8% a year, volatility 30.6%SAM: −18.5% a year, volatility 38.3%STZ: −7.8% a year, volatility 25.4%MGPI: −24.8% a year, volatility 40.0%CCU: −3.2% a year, volatility 29.3%TAP: 0.9% a year, volatility 26.0%KDP: 2.5% a year, volatility 22.1%PEP: −0.5% a year, volatility 19.1%ABEV: 9.9% a year, volatility 30.2%BUDSPY (S&P 500)KODEOBF-BAMBPBALLSAMSTZMGPICCUTAPKDPPEPABEV10.0%20.0%30.0%40.0%50.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityBUD: 9.7% a year, volatility 25.0%SPY (S&P 500): 12.7% a year, volatility 17.1%KO: 14.7% a year, volatility 16.8%DEO: −11.9% a year, volatility 25.6%BF-B: −14.7% a year, volatility 30.8%AMBP: −5.8% a year, volatility 42.8%BALL: −5.8% a year, volatility 30.6%SAM: −18.5% a year, volatility 38.3%STZ: −7.8% a year, volatility 25.4%MGPI: −24.8% a year, volatility 40.0%CCU: −3.2% a year, volatility 29.3%TAP: 0.9% a year, volatility 26.0%KDP: 2.5% a year, volatility 22.1%PEP: −0.5% a year, volatility 19.1%ABEV: 9.9% a year, volatility 30.2%BUDSPY (S&P 500)KODEOBF-BAMBPBALLSAMSTZMGPICCUTAPKDPPEPABEV
All figures
InvestmentAnnual returnVolatility
KO The Coca-Cola Company+14.7%16.8%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
ABEV Ambev S.A.+9.9%30.2%
BUD This pageAnheuser-Busch InBev SA/NV+9.7%25.0%
KDP Keurig Dr Pepper Inc.+2.5%22.1%
TAP Molson Coors Beverage Company+0.9%26.0%
PEP PepsiCo, Inc.−0.5%19.1%
CCU Compañía Cervecerías Unidas S.A.−3.2%29.3%
AMBP Ardagh Metal Packaging S.A.−5.8%42.8%
BALL Ball Corporation−5.8%30.6%
STZ Constellation Brands, Inc.−7.8%25.4%
DEO Diageo plc−11.9%25.6%
BF-B Brown-Forman Corporation−14.7%30.8%
SAM The Boston Beer Company, Inc.−18.5%38.3%
MGPI MGP Ingredients, Inc.−24.8%40.0%
Open these 15 in EasyCompare

Has BUD consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than BUD 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
BUD Anheuser-Busch InBev SA/NV (this page)—+6.9%+3.1%+12.3%+32.7%+36.7%+66.6%+58.7%−20.0%25.0%0.50−69.8%—$166B—
KO QualifiedThe Coca-Cola Company4/5 short3/3 longAll-weather+7.3%+14.5%+25.4%+37.9%+40.2%+86.8%+98.2%+204%16.8%0.91−37.0%—$402B—
KDP Beverages - Non-AlcoholicKeurig Dr Pepper Inc.3/5 short1/3 long+13.9%+14.6%+32.5%+27.8%+28.7%+31.9%+13.4%+281%22.1%0.23−36.9%—$47B—
DEO Beverages - AlcoholicDiageo plc3/5 short1/3 long+9.0%+11.5%+15.2%+9.7%−2.4%−32.5%−46.8%+11.7%25.6%-0.37−63.4%—$52B—
BF-B Beverages - Wineries & DistilleriesBrown-Forman Corporation2/5 short1/3 long+7.5%+7.3%−2.3%+10.3%+0.5%−45.0%−54.9%−4.6%30.8%-0.36−68.9%—$13B—
AMBP Packaging & ContainersArdagh Metal Packaging S.A.2/5 short1/3 long+1.8%+4.5%+17.3%+19.1%+35.6%+143%−25.6%—42.8%0.07−75.3%—$2.8B—
BALL Packaging & ContainersBall Corporation1/5 short1/3 long+7.5%+3.4%+0.9%+21.4%+33.6%+51.5%−25.9%+78.6%30.6%-0.04−55.1%—$17B—
SAM Beverages - AlcoholicThe Boston Beer Company, Inc.1/5 short1/3 long+7.5%+2.0%−26.3%−7.8%−16.3%−50.1%−64.0%+17.9%38.3%-0.34−87.7%—$1.9B—
STZ Beverages - AlcoholicConstellation Brands, Inc.1/5 short1/3 long+12.1%−0.4%−15.7%−4.0%−3.3%−38.5%−33.2%−6.6%25.4%-0.19−56.0%—$22B—
PEP Beverages - Non-AlcoholicPepsiCo, Inc.0/5 short1/3 long+3.4%0.0%−12.8%−2.9%−9.2%−6.7%−2.3%+72.6%19.1%0.07−30.3%—$183B—
ABEV Beverages - AlcoholicAmbev S.A.4/5 short0/3 long+11.8%+8.1%+8.9%+35.5%+53.0%+62.0%+60.4%−21.1%30.2%0.46−72.4%—$52B—
MGPI Beverages - Wineries & DistilleriesMGP Ingredients, Inc.1/5 short0/3 long+13.0%−16.4%−23.2%−35.9%−37.8%−83.8%−76.0%−58.0%40.0%-0.51−89.3%—$324M—
CCU Beverages - AlcoholicCompañía Cervecerías Unidas S.A.0/5 short0/3 long−2.2%−3.4%−10.1%−13.5%−12.1%+7.9%−15.1%−19.6%29.3%0.03−61.8%—$2.0B—
TAP Beverages - AlcoholicMolson Coors Beverage Company0/5 short0/3 long+7.0%−2.3%−7.1%−12.3%−9.9%−23.7%+4.6%−51.6%26.0%0.17−67.0%—$7.5B—
Open these 14 in EasyCompare

How did BUD do year by year?

This table shows each investment's total return in every full calendar year since 2010, along with where BUD ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with BUD and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: BUD began trading on July 1, 2009, so the table starts with 2010, its first full calendar year, and cannot show how it fared during the dot-com bust or the 2008 financial crisis.

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

InvestmentYears ahead of BUD2025202420232022202120202019201820172016201520142013201220112010
BUD This pageAnheuser-Busch InBev SA/NV—+30.5%−21.3%+9.0%+0.1%−12.7%−14.0%+27.7%−38.8%+9.6%−12.7%+14.9%+8.4%+25.6%+46.5%+8.8%+10.9%
Rank among alternativesTop quarter in 4 of 163 of 1411 of 143 of 146 of 1412 of 1410 of 134 of 1313 of 1311 of 1312 of 136 of 139 of 136 of 133 of 137 of 1312 of 13
SPY S&P 500State Street SPDR S&P 500 ETF11 of 16+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%
KO The Coca-Cola Company9 of 16+15.6%+8.9%−4.4%+10.6%+11.4%+2.5%+20.6%+6.8%+14.3%−0.3%+5.2%+5.3%+17.2%+6.5%+9.5%+19.0%
KDP Keurig Dr Pepper Inc.11 of 16−10.1%−1.1%−4.2%−1.2%+17.5%+13.1%+15.4%+70.3%+25.4%+12.7%+51.5%+74.9%+36.4%+37.5%+37.5%+44.3%
DEO Diageo plc7 of 16−29.3%−10.1%−16.3%−17.4%+41.7%−3.3%+21.4%−0.4%+44.2%−1.9%−1.4%−11.4%+16.3%+37.0%+21.6%+11.0%
BF-B Brown-Forman Corporation9 of 16−29.3%−32.2%−11.9%−8.9%−6.0%+18.7%+43.8%−10.7%+54.9%−8.2%+14.5%+17.7%+21.3%+19.7%+17.8%+34.0%
AMBP Ardagh Metal Packaging S.A.2 of 5+53.2%−12.3%−11.8%−42.3%−13.2%———————————
BALL Ball Corporation9 of 16−2.4%−3.0%+14.2%−46.2%+4.1%+45.2%+41.9%+22.7%+1.8%+3.9%+7.5%+33.1%+16.7%+26.5%+5.7%+32.4%
SAM The Boston Beer Company, Inc.9 of 16−34.9%−13.2%+4.9%−34.8%−49.2%+163%+56.9%+26.0%+12.5%−15.9%−30.3%+19.8%+79.8%+23.8%+14.2%+104%
STZ Constellation Brands, Inc.11 of 16−36.0%−7.1%+5.8%−6.4%+16.1%+17.4%+19.8%−28.7%+50.7%+8.7%+46.2%+39.5%+98.9%+71.2%−6.7%+39.0%
PEP PepsiCo, Inc.8 of 16−1.8%−7.6%−3.3%+6.8%+20.5%+11.7%+27.4%−4.8%+17.8%+7.8%+8.8%+17.3%+24.6%+6.4%+4.8%+10.7%
ABEV Ambev S.A.8 of 16+42.4%−30.1%+8.8%+2.3%−4.7%−32.8%+21.9%−37.7%+33.5%+14.1%−25.3%−11.1%−10.6%+49.9%+15.1%+57.3%
MGPI MGP Ingredients, Inc.10 of 16−37.2%−59.8%−7.0%+25.8%+81.9%−1.5%−14.5%−25.5%+56.3%+93.5%+64.2%+208%+53.2%−31.6%−54.0%+45.3%
CCU Compañía Cervecerías Unidas S.A.7 of 16+15.9%−6.3%−2.2%−14.3%+26.0%−19.3%−20.8%−12.6%+44.0%−0.9%+19.5%−20.9%−21.2%+25.6%+8.1%+61.6%
TAP Molson Coors Beverage Company10 of 16−15.5%−3.4%+22.1%+14.4%+4.1%−15.2%−0.4%−29.9%−14.1%+5.4%+28.7%+35.7%+34.6%+1.3%−10.7%+13.9%
Open these 15 in EasyCompare

Risk and diversification

How BUD 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 BUD's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents BUD's five deepest drawdowns since it began trading in 2009, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Note: BUD began trading on July 1, 2009, so this list cannot include the dot-com bust or the 2008 financial crisis. The crash tests on this page show how older funds and the S&P 500 fared through those years.

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

DuringBUD fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Late-2018 sell-off−70.5%+17.9%Sep 2016Mar 20203.5 yearsNot yet—
2011 euro debt crisis−22.3%−17.3%Apr 2011Aug 20114 monthsFeb 20126 months
2015 China and oil sell-off−19.2%−11.1%Jul 2015Sep 20152 monthsNov 20152 months
No named crash−15.6%+6.9%Oct 2010Mar 20115 monthsApr 20111 month
2015 China and oil sell-off−13.7%−7.0%Nov 2015Feb 20163 monthsApr 20162 months

How did BUD do in stock market crashes?

This section measures how far BUD, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: BUD began trading on July 1, 2009, so its row reads "Not yet trading" for the dot-com bust or the 2008 financial crisis. The older alternatives and the S&P 500 show how those crashes played out.

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

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
BUD This pageAnheuser-Busch InBev SA/NV—−1.3%−33.1%−52.2%−28.1%−7.7%−14.8%−16.2%−2.2%Not yet tradingNot yet trading
SPY S&P 500State Street SPDR S&P 500 ETF6 of 8−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
KO The Coca-Cola Company6 of 8−1.4%−16.7%−37.0%−8.8%−7.8%−8.8%−8.3%0.0%−40.6%−31.3%
KDP Keurig Dr Pepper Inc.7 of 8−1.5%−12.2%−33.5%−13.6%−1.7%−9.7%−13.0%0.0%——
DEO Diageo plc8 of 8−0.5%−24.7%−36.2%−8.3%−4.9%−12.9%−12.9%−0.8%−53.2%−22.3%
BF-B Brown-Forman Corporation5 of 8−3.1%−16.8%−34.8%−10.5%−5.5%−17.6%−18.0%−1.5%−34.0%−25.5%
AMBP Ardagh Metal Packaging S.A.0 of 2−5.1%−50.7%————————
BALL Ball Corporation3 of 8−5.6%−50.7%−33.9%−16.0%−3.7%−15.5%−23.5%−2.5%−49.4%−34.8%
SAM The Boston Beer Company, Inc.4 of 8−6.7%−43.9%−28.6%−24.3%−4.0%−36.7%−21.9%−1.4%−59.8%−29.7%
STZ Constellation Brands, Inc.4 of 8−3.8%−16.3%−49.3%−31.1%−3.3%−12.4%−22.5%−5.5%−58.4%−30.2%
PEP PepsiCo, Inc.8 of 8−0.8%−11.9%−28.3%−12.3%−7.2%−10.2%−8.3%−0.2%−40.4%−33.0%
ABEV Ambev S.A.5 of 8−2.7%−25.8%−42.9%−18.8%−4.4%−30.4%−17.6%0.0%−60.4%−52.7%
MGPI MGP Ingredients, Inc.3 of 8−2.6%−17.2%−32.3%−30.5%−1.2%−21.3%−40.2%−7.3%−95.0%−54.6%
CCU Compañía Cervecerías Unidas S.A.3 of 8−5.7%−44.2%−30.3%−13.1%−5.4%−24.8%−19.1%−2.0%−46.0%−53.7%
TAP Molson Coors Beverage Company4 of 8−4.2%−20.7%−36.9%−16.6%−8.5%−12.1%−17.0%−2.0%−43.6%−45.4%
Open these 15 in EasyCompare

How closely does BUD 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 BUD 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 BUD's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
BUD This pageAnheuser-Busch InBev SA/NV51%125%0.401.04
KDP Keurig Dr Pepper Inc.59%38%1.560.56
KO The Coca-Cola Company57%44%1.290.47
PEP PepsiCo, Inc.48%65%0.750.48
BALL Ball Corporation51%73%0.700.74
SAM The Boston Beer Company, Inc.47%90%0.520.81
DEO Diageo plc46%94%0.480.61
STZ Constellation Brands, Inc.48%111%0.440.79
CCU Compañía Cervecerías Unidas S.A.51%117%0.440.73
BF-B Brown-Forman Corporation34%80%0.430.56
ABEV Ambev S.A.49%121%0.410.85
MGPI MGP Ingredients, Inc.56%177%0.320.95
TAP Molson Coors Beverage Company23%103%0.230.75
Open these 13 in EasyCompare

What diversifies BUD?

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

ETFs

InvestmentCorrelation5Y returnSharpe2024202120202018201680/20 mix volatility80/20 mix annual return
BUD Anheuser-Busch InBev SA/NV (this page)1.00+58.7%0.50−21.3%−12.7%−14.0%−38.8%−12.7%27.3%+7.0%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.25+225%1.34+29.8%+18.0%+3.9%−19.8%+1.1%22.6%+11.4%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.33+101%1.04+33.4%+23.1%−13.4%−8.7%+29.8%23.0%+9.2%
PWV Broad MarketInvesco Large Cap Value ETF0.49+88.7%0.97+14.5%+29.1%−3.7%−14.1%+18.8%23.4%+8.8%
SMH TechnologyVanEck Semiconductor ETF0.19+323%0.97+39.1%+42.1%+55.5%−9.1%+35.6%24.1%+13.9%
GLD CommoditiesSPDR Gold Shares0.35+126%0.96+26.7%−4.2%+24.8%−1.9%+8.0%23.3%+9.8%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.29+136%0.93+45.8%+22.7%+28.2%−0.9%+7.4%23.3%+10.5%
XLE EnergyState Street Energy Select Sector SPDR ETF0.20+177%0.93+5.6%+53.3%−32.7%−18.2%+28.0%23.4%+11.0%
FDVV Dividend & IncomeFidelity High Dividend ETF0.48+85.9%0.92+21.8%+29.3%+2.8%−1.2%—23.4%+8.9%

Stocks

InvestmentCorrelation5Y returnSharpe2024202120202018201680/20 mix volatility80/20 mix annual return
BUD Anheuser-Busch InBev SA/NV (this page)1.00+58.7%0.50−21.3%−12.7%−14.0%−38.8%−12.7%27.3%+7.0%
CAH Medical - DistributionCardinal Health, Inc.0.21+479%1.55+19.0%−0.4%+10.1%−24.5%−17.5%23.5%+13.5%
CLS Hardware, Equipment & PartsCelestica Inc.-0.09+3,143%1.47+215%+37.9%−2.4%−16.3%+7.4%23.8%+26.7%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.13+1,636%1.46+107%+89.0%+6.7%+0.8%+18.3%24.7%+22.1%
MCK Medical - DistributionMcKesson Corporation0.09+413%1.44+23.7%+44.2%+27.1%−28.4%−28.3%22.8%+13.1%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.14+690%1.41−4.0%+61.0%−27.4%−8.2%+0.7%23.6%+15.6%
Open these 14 in EasyCompare

Common questions

What was BUD's worst drawdown?

BUD's deepest decline since it began trading in 2009 was 70.5%, from September 2016 to March 2020. It has not yet climbed back to that peak. Because BUD launched in July 2009, that record does not include the dot-com bust or the 2008 financial crisis.

What were BUD's best and worst years?

Over 16 full calendar years, BUD's best year was 2012, when it returned 46.5%. Its worst was 2018, with a return of -38.8%.

Is there a better investment than BUD?

Among BUD's popular alternatives, KO earned more than BUD with less volatility over the past 5 years: 14.7% a year at 16.8% volatility, against 9.7% a year at 25.0%. Looking beyond its popular alternatives, CCEP (food & beverages) earned more than BUD with less volatility over the past 5 years: 19.7% a year at 23.2% volatility, against 9.7% a year at 25.0%.

Is BUD more volatile than the S&P 500?

Yes. BUD's volatility over the past 5 years was 25.0%, 1.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BUD's return lands within 25.0% 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 BUD's Sharpe ratio?

BUD's Sharpe ratio over the past 5 years was 0.50, against 0.79 for the S&P 500, so BUD 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 BUD with the S&P 500?

Over the past 5 years, BUD's monthly returns had a correlation of 0.33 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 BUD instead: the lower it is, the more that option would diversify a BUD holding.

What are the best alternatives to BUD?

Of the 13 popular alternatives we compared, one outperformed BUD in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: KO.

Did BUD outperform the S&P 500?

BUD finished ahead of the S&P 500 (SPY) in five of 16 full calendar years. In 2025, it returned +30.5%, against +17.7% for the index.

How did BUD do in stock market crashes?

BUD fell less than the S&P 500 (SPY) in two of the eight major crashes it has traded through, and further in six. The clearest case was the Covid crash, when BUD fell 52.2% and the S&P 500 fell 33.7%.

What diversifies BUD?

These had a low correlation with BUD over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.25), EMLP (correlation 0.33) and PWV (correlation 0.49); among large stocks, CAH (correlation 0.21), CLS (correlation -0.09) and FIX (correlation 0.13). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to BUD

Other stocks and ETFs