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

> Source: EasyCompare research, https://easycompare.io/research/bud
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on 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.

## Key findings

- **Right now:** BUD is 23.6% below its high, bear-market territory, while the S&P 500 sits 1.3% below a record. Its alcoholic beverage peers split over the past 6 months: DEO (Diageo) rose 15.2%, while STZ (Constellation Brands) fell 15.7%.
- **Stock or market?:** BUD rose 3.1% over the past 3 months, in line with the alcoholic beverages ETF KXI (iShares Global Consumer Staples ETF), which rose 3.0%. The S&P 500 rose 3.9%. Last month cut against the tape: BUD rose 6.9% while the S&P 500 fell 0.6%.
- **Past 1 to 3 years:** Over the past year, BUD rose 36.7% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The past 3 years (ahead of 57% of the stocks worth at least $300 million) have been far stronger than the record over 10 years (behind 87% of them).
- **Long term:** BUD turned $10,000 into $8,000 over the past decade, against $42,100 in the S&P 500. BUD's 10-year loss of 20.0% puts it behind 87% of the stocks worth at least $300 million with that much history. The S&P 500 returned 321%.
- **In a crash:** BUD has tended to fall harder than the S&P 500 in crashes, about 1.3 times the index's decline. The Covid crash took 52.2% off BUD, against 33.7% for the S&P 500, and more than alcoholic beverage peers such as DEO (Diageo, 36.2%).
- **Diversification:** Against the S&P 500, BUD has a correlation of 0.33 over 5 years, less closely than 64% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. BUD's link to the S&P 500 has loosened: a correlation of 0.33 over the past 5 years, down from 0.72 in the 5 years before.
- **Better options**
  - **Popular alternatives:** KO (Coca-Cola) 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%.
  - **Nearby categories and themes:** CCEP (Coca-Cola Europacific Partners, 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%.
  - **Whole market:** 331 of the 3,633 stocks and funds worth at least $500 million earned more than BUD with less volatility over the past 5 years, among them VTI (Vanguard Morningstar Total Stock Market ETF), VOO (Vanguard S&P 500 ETF) and BRK-B (Berkshire Hathaway).

## 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.

- $10,000 invested in BUD at the end of September 2009 would have grown to $22,952 by September 2026, less than the $97,560 it would have become in SPY, an S&P 500 fund.
- Seven of the eight other investments on the chart ended ahead of BUD, and KDP finished highest, at $348,396.

## 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.

- BUD is still 23.6% below its all-time high.
- 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.
- Over 16 full calendar years, BUD's best was 2012, when it returned 46.5%, and its worst was 2018, when it lost 38.8%. It lost money in five of those years.

- Type: Stock, Consumer Staples (Beverages - Alcoholic)
- Trading since: July 1, 2009
- Market value: $166B
- Volatility (5 years): 25.0%; Sharpe ratio: 0.50
- Worst decline ever: −70.5%, from September 28, 2016 to March 18, 2020; not yet back at its high

| Period | BUD total return |
| --- | --- |
| 1 month | +6.9% |
| 3 months | +3.1% |
| 6 months | +12.3% |
| year to date | +32.7% |
| 1 year | +36.7% |
| 3 years | +66.6% |
| 5 years | +58.7% |
| 10 years | −20.0% |

## 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.

- BUD is among the steadier stocks: its price swings rank in the top 11% of the 2,893 stocks worth at least $300 million, where the top is the calmest.
- BUD's 10-year return ranks in the bottom 13% of the 2,202 stocks worth at least $300 million with 10 years of history.

| Measure | BUD | Rank |
| --- | --- | --- |
| 1-year return | +36.7% | 811 of 3,287 (top 25%) |
| 3-year return | +66.6% | 1,307 of 3,017 (top 44%) |
| 5-year return | +58.7% | 1,014 of 2,893 (top 36%) |
| 10-year return | −20.0% | 1,909 of 2,202 (top 87%) |
| Volatility, 5 years | 25.0% | 322 of 2,893 (top 12%) |
| Sharpe ratio, 5 years | 0.50 | 933 of 2,893 (top 33%) |
| Worst decline, past 10 years | −69.8% | 1,286 of 2,187 (top 59%) |

### 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).

- 68 stocks and 263 ETFs worth at least $500 million sit in the green region: each earned more than BUD over the past 5 years with smaller price swings. That is 9% of the 3,633 screened.
- Among those with at least half BUD's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 24% less than BUD's 25.0%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.50 for BUD.
- Among BUD's popular alternatives, KO is in the region. KO earned 14.7% a year against 9.7% a year for BUD, at 16.8% volatility, 33% less than BUD's 25.0%.

### Is there a better investment than BUD?

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.

- 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%.
- Across the whole market, 331 of the 3,633 stocks and funds worth at least $500 million earned more than BUD with less volatility over the past 5 years, among them VTI, VOO and BRK-B.

The 15 strongest of 331 investments that beat BUD over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with BUD | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| BUD: Anheuser-Busch InBev SA/NV (this page) |  | +9.7% | 25.0% | 0.50 | −69.8% | −20.0% |  |  |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.42 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | Pharmaceuticals | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.35 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [PM](https://easycompare.io/research/pm): Philip Morris International Inc. | Tobacco | +21.0% | 23.4% | 0.94 | −42.9% | +242% | 0.65 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [TRV](https://easycompare.io/research/trv): The Travelers Companies, Inc. | Property & Casualty Insurance | +22.4% | 22.3% | 1.02 | −46.3% | +347% | 0.40 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [CTAS](https://easycompare.io/research/ctas): Cintas Corporation | Business Services | +16.5% | 23.1% | 0.78 | −48.4% | +808% | 0.37 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| HDV: iShares Core High Dividend ETF | US Dividend Equity | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.54 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | Food & Beverages | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.73 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| THG: The Hanover Insurance Group, Inc. | Property & Casualty Insurance | +14.4% | 22.9% | 0.70 | −40.1% | +291% | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | Pharmaceuticals | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.35 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| IWX: iShares Russell Top 200 Value ETF | Broad Market | +12.7% | 13.8% | 0.94 | −35.8% | +221% | 0.52 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [V](https://easycompare.io/research/v): Visa Inc. | Payment Processing | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.40 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| LTC: LTC Properties, Inc. | REIT - Healthcare Facilities | +11.3% | 21.1% | 0.62 | −51.4% | +51.7% | 0.27 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [TD](https://easycompare.io/research/td): The Toronto-Dominion Bank | Banks | +15.8% | 20.0% | 0.84 | −42.0% | +310% | 0.47 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [BNS](https://easycompare.io/research/bns): The Bank of Nova Scotia | Banks | +12.9% | 19.9% | 0.71 | −46.9% | +187% | 0.45 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [IWD](https://easycompare.io/research/iwd): iShares Russell 1000 Value ETF | US Large-Cap Value | +11.4% | 14.7% | 0.81 | −38.5% | +205% | 0.49 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## 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.

- Only KO was both more rewarding and calmer than BUD over the past 5 years, earning a higher annual return with lower volatility.
- Nine of the 13 popular alternatives earned less than BUD over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, BUD returned 9.7% a year, less than the S&P 500's 12.7%, with higher volatility (25.0% against 17.1%).

### 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.

- KO outperformed BUD in every long-term period and in all but one short-term period, the most consistent record in the group.
- Only one of the 13 popular alternatives, KO, outperformed BUD in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- KO earned more for the risk it took than BUD (a higher Sharpe ratio) and fell less in its worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of BUD | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| BUD: Anheuser-Busch InBev SA/NV (this page) | +36.7% | +66.6% | +58.7% | −20.0% |  |  | 0.50 |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | +40.2% | +86.8% | +98.2% | +204% | 4/5 short-term, 3/3 long-term | all-weather | 0.91 |
| [KDP](https://easycompare.io/research/kdp): Keurig Dr Pepper Inc. | +28.7% | +31.9% | +13.4% | +281% | 3/5 short-term, 1/3 long-term |  | 0.23 |
| [DEO](https://easycompare.io/research/deo): Diageo plc | −2.4% | −32.5% | −46.8% | +11.7% | 3/5 short-term, 1/3 long-term |  | -0.37 |
| BF-B: Brown-Forman Corporation | +0.5% | −45.0% | −54.9% | −4.6% | 2/5 short-term, 1/3 long-term |  | -0.36 |
| AMBP: Ardagh Metal Packaging S.A. | +35.6% | +143% | −25.6% | — | 2/5 short-term, 1/3 long-term |  | 0.07 |
| BALL: Ball Corporation | +33.6% | +51.5% | −25.9% | +78.6% | 1/5 short-term, 1/3 long-term |  | -0.04 |
| SAM: The Boston Beer Company, Inc. | −16.3% | −50.1% | −64.0% | +17.9% | 1/5 short-term, 1/3 long-term |  | -0.34 |
| STZ: Constellation Brands, Inc. | −3.3% | −38.5% | −33.2% | −6.6% | 1/5 short-term, 1/3 long-term |  | -0.19 |
| [PEP](https://easycompare.io/research/pep): PepsiCo, Inc. | −9.2% | −6.7% | −2.3% | +72.6% | 0/5 short-term, 1/3 long-term |  | 0.07 |
| [ABEV](https://easycompare.io/research/abev): Ambev S.A. | +53.0% | +62.0% | +60.4% | −21.1% | 4/5 short-term, 0/3 long-term |  | 0.46 |
| MGPI: MGP Ingredients, Inc. | −37.8% | −83.8% | −76.0% | −58.0% | 1/5 short-term, 0/3 long-term |  | -0.51 |
| CCU: Compañía Cervecerías Unidas S.A. | −12.1% | +7.9% | −15.1% | −19.6% | 0/5 short-term, 0/3 long-term |  | 0.03 |
| TAP: Molson Coors Beverage Company | −9.9% | −23.7% | +4.6% | −51.6% | 0/5 short-term, 0/3 long-term |  | 0.17 |

### 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.

- BUD finished ahead of the S&P 500 in five of its 16 full calendar years.
- Among its popular alternatives, KDP came out ahead of BUD most often, in 11 of the 16 years both traded.
- Ranked against its popular alternatives each year, BUD finished in the top quarter in four of 16 years and in the bottom quarter in five. In 2025, it ranked 3 of 14.

| Year | BUD | SPY |
| --- | --- | --- |
| 2025 | +30.5% | +17.7% |
| 2024 | −21.3% | +24.9% |
| 2023 | +9.0% | +26.2% |
| 2022 | +0.1% | −18.2% |
| 2021 | −12.7% | +28.7% |
| 2020 | −14.0% | +18.3% |
| 2019 | +27.7% | +31.2% |
| 2018 | −38.8% | −4.6% |
| 2017 | +9.6% | +21.7% |
| 2016 | −12.7% | +12.0% |

## 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.

- In all five of BUD's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: BUD fell 70.5% from September 2016 to March 2020, while the S&P 500 rose 17.9%.
- None of these declines kept BUD below its old high for long; the longest climb back took six months.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −70.5% | September 28, 2016 | March 18, 2020 | not yet | +17.9% | late-2018 sell-off |
| −22.3% | April 29, 2011 | August 10, 2011 | February 3, 2012 | −17.3% | 2011 euro debt crisis |
| −19.2% | July 20, 2015 | September 29, 2015 | November 24, 2015 | −11.1% | 2015 China and oil sell-off |
| −15.6% | October 25, 2010 | March 16, 2011 | April 27, 2011 | +6.9% |  |
| −13.7% | November 25, 2015 | February 29, 2016 | April 19, 2016 | −7.0% | 2015 China and oil sell-off |

### 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.

- BUD fell further than the S&P 500 in six of the eight crashes it has traded through. The clearest case was the Covid crash, when BUD fell 52.2% and the S&P 500 fell 33.7%.
- Among its popular alternatives, DEO held up best, falling less than BUD in all eight crashes they both traded through.
- BUD began trading after the 2008 financial crisis, but 11 of its popular alternatives lived through it. The mildest fall among them was BF-B's 34.0%, against 55.2% for the S&P 500.

| Crash | Dates | BUD fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | not trading | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.2% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −16.2% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −14.8% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −7.7% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −28.1% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −52.2% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −33.1% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −1.3% | −3.4% |

### 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.

- Ten of the 12 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than BUD's 0.40, led by KDP, KO and PEP.
- KDP took just 38% of the S&P 500's losses, against 125% for BUD, while still keeping 59% of its gains.
- Over the past 10 years, BUD captured 51% of the S&P 500's gains in rising months and 125% of its losses in falling months, with a beta of 1.04. Its share of the market's losses was larger than its share of the gains.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| BUD: Anheuser-Busch InBev SA/NV (this page) | 51.0% | 125% | 1.04 |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | 57.0% | 44.0% | 0.47 |
| [KDP](https://easycompare.io/research/kdp): Keurig Dr Pepper Inc. | 59.0% | 38.0% | 0.56 |
| [DEO](https://easycompare.io/research/deo): Diageo plc | 46.0% | 94.0% | 0.61 |
| BF-B: Brown-Forman Corporation | 34.0% | 80.0% | 0.56 |
| BALL: Ball Corporation | 51.0% | 73.0% | 0.74 |
| SAM: The Boston Beer Company, Inc. | 47.0% | 90.0% | 0.81 |
| STZ: Constellation Brands, Inc. | 48.0% | 111% | 0.79 |
| [PEP](https://easycompare.io/research/pep): PepsiCo, Inc. | 48.0% | 65.0% | 0.48 |
| [ABEV](https://easycompare.io/research/abev): Ambev S.A. | 49.0% | 121% | 0.85 |
| MGPI: MGP Ingredients, Inc. | 56.0% | 177% | 0.95 |
| CCU: Compañía Cervecerías Unidas S.A. | 51.0% | 117% | 0.73 |
| TAP: Molson Coors Beverage Company | 23.0% | 103% | 0.75 |

### 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).

- Moving a fifth of the money in BUD into DXJ would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+7.0% for BUD alone, +11.4% for the mix).
- FIX made money in five of the five calendar years in which BUD lost money.
- Among large ETFs, DXJ, EMLP and PWV have moved largely independently of BUD over the past 5 years, with correlations of 0.49 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with BUD | 5Y return | Volatility | Sharpe | Rose in BUD's 5 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.25 | +225% | 19.1% | 1.34 | 4 of 5 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.33 | +101% | 14.5% | 1.04 | 3 of 5 |
| PWV: Invesco Large Cap Value ETF | 0.49 | +88.7% | 14.2% | 0.97 | 3 of 5 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.19 | +323% | 36.9% | 0.97 | 4 of 5 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.35 | +126% | 18.9% | 0.96 | 3 of 5 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.29 | +136% | 20.8% | 0.93 | 4 of 5 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.20 | +177% | 25.5% | 0.93 | 3 of 5 |
| FDVV: Fidelity High Dividend ETF | 0.48 | +85.9% | 14.6% | 0.92 | 3 of 5 |

## 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.

## More research

- [Coca-Cola (KO) Performance, Alternatives and Market Rank](https://easycompare.io/research/ko)
- [Keurig Dr Pepper (KDP) Performance, Alternatives and Market Rank](https://easycompare.io/research/kdp)
- [Diageo (DEO) Performance, Alternatives and Market Rank](https://easycompare.io/research/deo)
- [PepsiCo (PEP) Performance, Alternatives and Market Rank](https://easycompare.io/research/pep)
- [Ambev (ABEV) Performance, Alternatives and Market Rank](https://easycompare.io/research/abev)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/aapl)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)
- [Microsoft (MSFT) Performance, Alternatives and Market Rank](https://easycompare.io/research/msft)
- [Amazon.com (AMZN) Performance, Alternatives and Market Rank](https://easycompare.io/research/amzn)
- [Vanguard Morningstar Total Stock Market ETF (VTI) Performance, Alternatives and Market Rank](https://easycompare.io/research/vti)

## Explore further

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