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Relative Intelligence · Banks

How Citigroup (C) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on C alone. It places C (Citigroup Inc.) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where C stands in the market, and of the alternatives worth a closer look.

Period covered: C'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 C →Chart C vs. 25 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in C over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of C over the same span and C'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. 970 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of C; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$2,000$5,000$10,000$20,000$50,000$100,000$200,000199720022007201220172022$10,000$100,00019972004201120182025
  • RY$442,765+4,328% total · +14.0% a year
  • TD$422,896+4,129% total · +13.8% a year
  • JPM$189,407+1,794% total · +10.7% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • BNY$121,131+1,111% total · +9.0% a year
  • BBVA$107,161+972% total · +8.5% a year
  • SAN$81,349+713% total · +7.5% a year
  • ING$45,632+356% total · +5.4% a year
  • MUFG$22,774+128% total · +2.9% a year
  • C$11,853+18.5% total · +0.6% 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. 663 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of C; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000$60,000$70,000202120222023202420252026$0$20,000$40,000$60,000$80,000202120222023202420252026
  • BBVA$57,750+478% total · +42.0% a year
  • HSBC$51,297+413% total · +38.7% a year
  • SAN$45,493+355% total · +35.4% a year
  • SMFG$44,827+348% total · +35.0% a year
  • BNY$31,954+220% total · +26.2% a year
  • CM$25,433+154% total · +20.5% a year
  • RY$23,646+136% total · +18.8% a year
  • JPM$22,905+129% total · +18.0% a year
  • C$21,876+119% total · +16.9% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
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C 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
$206B
Industry
Banks - Diversified
Price history from
October 1986

Returns

Past 1 year
+26.0%total return
Past 3 years
+238%+50.1% a year
Past 5 years
+102%+15.1% a year
Past 10 years
+234%+12.8% a year
Best calendar year
+79.9%1997
Worst calendar year
−75.9%2008
Losing years
10 of 29full calendar years

Risk

Volatility
29.4%typical yearly swing, 5 years
Sharpe ratio
0.63return per unit of risk, 5 years
Worst decline ever
−98.0%Dec 2006 to Mar 2009
From its all-time high
−67.2%below the peak

C against the whole market

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

How does C rank among all stocks?

This section ranks C 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 C 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.

MeasureCRankStanding
1-year return+26.0%1,080 of 3,287top 33%
3-year return+238%315 of 3,017top 10%
5-year return+102%672 of 2,893top 23%
10-year return+234%763 of 2,202top 35%
Volatility, 5 years29.4%667 of 2,893top 23%
Sharpe ratio, 5 years0.63615 of 2,893top 21%
Worst decline, past 10 years−56.5%740 of 2,187top 34%

What has beaten C 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). C sits where the dashed lines cross. Anything in the green box above and to the left earned more than C 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 C; faint dots are 86 more of the 120 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.

5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than CCSCO: +16.8% a year, volatility 26.1%MCK: +38.7% a year, volatility 25.0%AMGN: +19.6% a year, volatility 24.9%PGR: +21.3% a year, volatility 25.6%TRV: +22.4% a year, volatility 22.3%TT: +22.7% a year, volatility 27.7%COR: +24.2% a year, volatility 22.8%GWW: +26.3% a year, volatility 24.9%HLT: +21.0% a year, volatility 26.8%MNST: +17.2% a year, volatility 24.9%CTAS: +16.5% a year, volatility 23.1%CCEP: +19.7% a year, volatility 23.2%ALL: +17.0% a year, volatility 26.2%IX: +17.9% a year, volatility 25.4%WRB: +18.9% a year, volatility 22.9%EWT: +20.4% a year, volatility 24.2%EHC: +18.4% a year, volatility 26.8%RSPT: +16.9% a year, volatility 25.1%TDIV: +16.2% a year, volatility 21.3%BFC: +19.0% a year, volatility 27.3%DBJP: +20.9% a year, volatility 19.2%EPU: +29.5% a year, volatility 24.9%NXTG: +16.2% a year, volatility 19.1%RTX: +18.6% a year, volatility 24.3%WMT: +20.8% a year, volatility 22.6%SPMO: +18.7% a year, volatility 20.8%E: +23.0% a year, volatility 25.6%AFL: +19.0% a year, volatility 20.8%MRK: +16.3% a year, volatility 24.8%MSGS: +18.4% a year, volatility 25.6%ACGL: +20.1% a year, volatility 24.5%TJX: +19.9% a year, volatility 22.3%MPLX: +23.5% a year, volatility 18.8%ETR: +19.2% a year, volatility 22.4%PCAR: +17.9% a year, volatility 26.1%NANR: +17.4% a year, volatility 22.6%BLX: +31.4% a year, volatility 25.9%WELL: +26.0% a year, volatility 23.8%ORI: +17.0% a year, volatility 22.2%PPA: +16.3% a year, volatility 18.9%AIRR: +18.3% a year, volatility 25.9%MFC: +22.6% a year, volatility 24.0%LVHI: +17.0% a year, volatility 11.1%WAB: +25.6% a year, volatility 26.2%NVS: +17.1% a year, volatility 20.7%GILD: +22.8% a year, volatility 24.9%GLD: +17.7% a year, volatility 18.9%IHG: +21.4% a year, volatility 26.6%CVX: +19.5% a year, volatility 25.2%SDCI: +20.6% a year, volatility 18.4%TTE: +18.0% a year, volatility 25.8%DTM: +24.5% a year, volatility 25.2%RNR: +20.1% a year, volatility 27.8%NEU: +21.0% a year, volatility 26.8%ACT: +20.5% a year, volatility 24.3%HEI: +17.3% a year, volatility 27.8%AXS: +16.7% a year, volatility 25.2%FLTW: +21.8% a year, volatility 24.3%CRAK: +19.8% a year, volatility 20.9%GARP: +17.5% a year, volatility 22.5%FRDM: +17.3% a year, volatility 22.8%ENSG: +19.8% a year, volatility 26.8%XOM: +27.1% a year, volatility 26.5%UMI: +18.7% a year, volatility 19.2%UFOX: +17.2% a year, volatility 26.5%EUFN: +18.5% a year, volatility 21.8%SHEL: +21.0% a year, volatility 24.8%BTI: +18.7% a year, volatility 22.0%MO: +17.8% a year, volatility 21.4%WMB: +24.6% a year, volatility 24.0%EPD: +16.4% a year, volatility 17.1%KMI: +18.7% a year, volatility 22.5%XLE: +22.6% a year, volatility 25.5%KOF: +22.3% a year, volatility 24.7%PAA: +27.0% a year, volatility 25.6%WES: +23.5% a year, volatility 27.6%RGA: +19.7% a year, volatility 27.3%OHI: +16.4% a year, volatility 24.2%AM: +20.0% a year, volatility 25.9%PSO: +18.5% a year, volatility 27.9%PAGP: +26.8% a year, volatility 26.1%CTRE: +16.7% a year, volatility 24.6%GHC: +17.4% a year, volatility 26.3%ATMP: +21.2% a year, volatility 21.5%NPK: +16.3% a year, volatility 27.3%RSPG: +21.6% a year, volatility 27.4%C: +15.1% a year, volatility 29.4%SPY (S&P 500): +12.7% a year, volatility 17.1%RY: +17.3% a year, volatility 18.2%JPM: +17.3% a year, volatility 24.3%CM: +19.2% a year, volatility 21.6%TD: +15.8% a year, volatility 20.0%HSBC: +33.1% a year, volatility 25.9%SMFG: +33.7% a year, volatility 29.4%CBOE: +21.5% a year, volatility 25.1%MFG: +33.6% a year, volatility 30.6%BAP: +30.8% a year, volatility 30.3%VCTR: +28.1% a year, volatility 35.0%WF: +26.3% a year, volatility 31.6%FCNCA: +20.4% a year, volatility 41.4%CAH: +42.1% a year, volatility 24.7%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%VGT: +18.4% a year, volatility 26.0%APH: +33.8% a year, volatility 32.2%CB: +15.7% a year, volatility 20.4%BNY: +22.7% a year, volatility 24.4%CSPY (S&P 500)RYJPMCMTDHSBCSMFGCBOEBAPVCTRWFFCNCACAHABBVDXJCOSTPMVGTAPHCBBNY0.0%10.0%20.0%30.0%40.0%50.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than CCSCO: +16.8% a year, volatility 26.1%MCK: +38.7% a year, volatility 25.0%AMGN: +19.6% a year, volatility 24.9%PGR: +21.3% a year, volatility 25.6%TRV: +22.4% a year, volatility 22.3%TT: +22.7% a year, volatility 27.7%COR: +24.2% a year, volatility 22.8%GWW: +26.3% a year, volatility 24.9%HLT: +21.0% a year, volatility 26.8%MNST: +17.2% a year, volatility 24.9%CTAS: +16.5% a year, volatility 23.1%CCEP: +19.7% a year, volatility 23.2%ALL: +17.0% a year, volatility 26.2%IX: +17.9% a year, volatility 25.4%WRB: +18.9% a year, volatility 22.9%EWT: +20.4% a year, volatility 24.2%EHC: +18.4% a year, volatility 26.8%RSPT: +16.9% a year, volatility 25.1%TDIV: +16.2% a year, volatility 21.3%BFC: +19.0% a year, volatility 27.3%DBJP: +20.9% a year, volatility 19.2%EPU: +29.5% a year, volatility 24.9%NXTG: +16.2% a year, volatility 19.1%RTX: +18.6% a year, volatility 24.3%WMT: +20.8% a year, volatility 22.6%SPMO: +18.7% a year, volatility 20.8%E: +23.0% a year, volatility 25.6%AFL: +19.0% a year, volatility 20.8%MRK: +16.3% a year, volatility 24.8%MSGS: +18.4% a year, volatility 25.6%ACGL: +20.1% a year, volatility 24.5%TJX: +19.9% a year, volatility 22.3%MPLX: +23.5% a year, volatility 18.8%ETR: +19.2% a year, volatility 22.4%PCAR: +17.9% a year, volatility 26.1%NANR: +17.4% a year, volatility 22.6%BLX: +31.4% a year, volatility 25.9%WELL: +26.0% a year, volatility 23.8%ORI: +17.0% a year, volatility 22.2%PPA: +16.3% a year, volatility 18.9%AIRR: +18.3% a year, volatility 25.9%MFC: +22.6% a year, volatility 24.0%LVHI: +17.0% a year, volatility 11.1%WAB: +25.6% a year, volatility 26.2%NVS: +17.1% a year, volatility 20.7%GILD: +22.8% a year, volatility 24.9%GLD: +17.7% a year, volatility 18.9%IHG: +21.4% a year, volatility 26.6%CVX: +19.5% a year, volatility 25.2%SDCI: +20.6% a year, volatility 18.4%TTE: +18.0% a year, volatility 25.8%DTM: +24.5% a year, volatility 25.2%RNR: +20.1% a year, volatility 27.8%NEU: +21.0% a year, volatility 26.8%ACT: +20.5% a year, volatility 24.3%HEI: +17.3% a year, volatility 27.8%AXS: +16.7% a year, volatility 25.2%FLTW: +21.8% a year, volatility 24.3%CRAK: +19.8% a year, volatility 20.9%GARP: +17.5% a year, volatility 22.5%FRDM: +17.3% a year, volatility 22.8%ENSG: +19.8% a year, volatility 26.8%XOM: +27.1% a year, volatility 26.5%UMI: +18.7% a year, volatility 19.2%UFOX: +17.2% a year, volatility 26.5%EUFN: +18.5% a year, volatility 21.8%SHEL: +21.0% a year, volatility 24.8%BTI: +18.7% a year, volatility 22.0%MO: +17.8% a year, volatility 21.4%WMB: +24.6% a year, volatility 24.0%EPD: +16.4% a year, volatility 17.1%KMI: +18.7% a year, volatility 22.5%XLE: +22.6% a year, volatility 25.5%KOF: +22.3% a year, volatility 24.7%PAA: +27.0% a year, volatility 25.6%WES: +23.5% a year, volatility 27.6%RGA: +19.7% a year, volatility 27.3%OHI: +16.4% a year, volatility 24.2%AM: +20.0% a year, volatility 25.9%PSO: +18.5% a year, volatility 27.9%PAGP: +26.8% a year, volatility 26.1%CTRE: +16.7% a year, volatility 24.6%GHC: +17.4% a year, volatility 26.3%ATMP: +21.2% a year, volatility 21.5%NPK: +16.3% a year, volatility 27.3%RSPG: +21.6% a year, volatility 27.4%C: +15.1% a year, volatility 29.4%SPY (S&P 500): +12.7% a year, volatility 17.1%RY: +17.3% a year, volatility 18.2%JPM: +17.3% a year, volatility 24.3%CM: +19.2% a year, volatility 21.6%TD: +15.8% a year, volatility 20.0%HSBC: +33.1% a year, volatility 25.9%SMFG: +33.7% a year, volatility 29.4%CBOE: +21.5% a year, volatility 25.1%MFG: +33.6% a year, volatility 30.6%BAP: +30.8% a year, volatility 30.3%VCTR: +28.1% a year, volatility 35.0%WF: +26.3% a year, volatility 31.6%FCNCA: +20.4% a year, volatility 41.4%CAH: +42.1% a year, volatility 24.7%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%VGT: +18.4% a year, volatility 26.0%APH: +33.8% a year, volatility 32.2%CB: +15.7% a year, volatility 20.4%BNY: +22.7% a year, volatility 24.4%CSPY (S&P 500)RYJPMCMTDHSBCCBOEBAPVCTRWFFCNCACAHABBVDXJPMAPH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than C?

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

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

Screen the whole market against C 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 C?lower diversifies moreExpenseper year
CCitigroup Inc. · this page
+15.1%29.4%0.63−56.5%+234%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.620.09%
Popular alternativesbest 6 shownThe investments people most often weigh against C. 16 of 25 passed at least one test.
RYRoyal Bank of Canada · Banks
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+17.3%18.2%0.97−40.0%+352%0.64—
JPMJPMorgan Chase & Co. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+17.3%24.3%0.78−43.6%+537%0.76—
CMCanadian Imperial Bank of Commerce · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+19.2%21.6%0.93−47.3%+395%0.61—
TDThe Toronto-Dominion Bank · Banks
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+15.8%20.0%0.84−42.0%+310%0.59—
HSBCHSBC Holdings plc · Banks
Higher return, lower volatilityHigher return in most periodsSmaller losses in recent crashes+33.1%25.9%1.24−62.3%+319%0.45—
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+33.7%29.4%1.14−47.6%+474%0.40—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Banks and the categories next to it (Regional Banks, Capital Markets, Payment Processing, Asset Management), plus C's specific themes. 28 of 117 passed at least one test.
CBOECboe Global Markets, Inc. · Capital Markets
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+21.5%25.1%0.91−43.2%+463%-0.09—
MFGMizuho Financial Group, Inc. · Banks
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+33.6%30.6%1.10−45.7%+345%0.45—
BAPCredicorp Ltd. · Banks
Higher return, similar volatilityHigher return in most periodsSmaller losses in recent crashes+30.8%30.3%1.04−59.2%+298%0.36—
VCTRVictory Capital Holdings, Inc. · Asset Management
Higher Sharpe, smaller worst declineHigher return in most periods+28.1%35.0%0.89−45.2%—0.46—
WFWoori Financial Group Inc. · Banks
Higher return, similar volatilityHigher return in most periods+26.3%31.6%0.90−67.2%+282%0.42—
FCNCAFirst Citizens BancShares, Inc. · Regional Banks
Higher return in most periodsSmaller losses in recent crashes+20.4%41.4%0.64−47.5%+662%0.30—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 583 of 3,491 passed at least one test.
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+42.1%24.7%1.55−46.1%+349%0.21—
ABBVAbbVie Inc. · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+26.1%23.4%1.11−45.1%+603%0.04—
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+26.6%19.1%1.34−39.1%+428%0.330.48%
COSTCostco Wholesale Corporation · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+17.4%22.9%0.82−31.4%+685%0.21—
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%0.24—
VGTVanguard Information Technology ETF · Technology Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+18.4%26.0%0.78−35.1%+779%0.510.09%
APHAmphenol Corporation · Electronic Components
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+33.8%32.2%1.07−37.5%+965%0.49—
CBChubb Limited · Property & Casualty Insurance
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+15.7%20.4%0.82−42.6%+248%0.25—
What these numbers mean for C
Annual return
C returned 15.1% 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 $20,200. 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
C's volatility over the past 5 years was 29.4%, 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, C's return lands within 29.4% 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
C's Sharpe ratio over the past 5 years was 0.63, against 0.79 for the S&P 500, so C 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
C's worst fall from a peak to a low over the past 10 years was 56.5%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 56.5% fall takes a 130% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, C's monthly returns had a correlation of 0.62 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against C instead: the lower it is, the more that option would diversify a C holding. Guide: Correlation and diversification →
Show all 120 stocks and funds worth at least $500 million that earned more than C with less volatility

Out of 3,633 tested over 5 years. The strongest 98 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with CExpense
1
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.21—
2
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.04—
3
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.330.48%
4
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.21—
5
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.24—
6
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.20—
7
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.00—
8
RYRoyal Bank of Canada · Banks
Popular alternative+17.3%18.2%0.97−40.0%+352%0.64—
9
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%0.17—
10
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.510.09%
11
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%0.17—
12
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.35—
13
TTTrane Technologies plc · Building Products
Whole market+22.7%27.7%0.88−40.5%+955%0.39—
14
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.24—
15
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.36—
16
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+21.0%26.8%0.85−50.8%+694%0.54—
17
MNSTMonster Beverage Corporation · Food & Beverages
Whole market+17.2%24.9%0.77−30.4%+285%0.10—
18
CTASCintas Corporation · Business Services
Whole market+16.5%23.1%0.78−48.4%+808%0.23—
19
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Whole market+19.7%23.2%0.90−48.8%+292%0.28—
20
ALLThe Allstate Corporation · Property & Casualty Insurance
Whole market+17.0%26.2%0.73−41.4%+356%0.20—
21
IXORIX Corporation · Diversified Financials
Whole market+17.9%25.4%0.78−42.5%+284%0.40—
22
WRBW. R. Berkley Corporation · Property & Casualty Insurance
Whole market+18.9%22.9%0.87−45.3%+443%0.11—
23
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+20.4%24.2%0.89−38.9%+468%0.500.59%
24
EHCEncompass Health Corporation · Health Care Facilities
Whole market+18.4%26.8%0.77−39.5%+340%0.19—
25
JPMJPMorgan Chase & Co. · Banks
Popular alternative+17.3%24.3%0.78−43.6%+537%0.76—
26
CBOECboe Global Markets, Inc. · Capital Markets
Same or nearby category+21.5%25.1%0.91−43.2%+463%-0.09—
27
CMCanadian Imperial Bank of Commerce · Banks
Popular alternative+19.2%21.6%0.93−47.3%+395%0.61—
28
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.9%25.1%0.75−33.7%+572%0.560.40%
29
TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity
Whole market+16.2%21.3%0.81−32.0%+388%0.540.50%
30
BFCBank First Corporation · Banks - Regional
Whole market+19.0%27.3%0.78−39.8%+496%0.24—
31
DBJPXtrackers MSCI Japan Hedged Equity ETF · International
Whole market+20.9%19.2%1.09−31.3%+348%0.400.45%
32
EPUiShares MSCI Peru and Global Exposure ETF · International
Whole market+29.5%24.9%1.17−51.0%+275%0.330.59%
33
NXTGFirst Trust Indxx NextG ETF · Technology
Whole market+16.2%19.1%0.89−33.6%+330%0.460.70%
34
RTXRTX Corporation · Aerospace & Defense
Whole market+18.6%24.3%0.83−52.0%+317%0.25—
35
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.17—
36
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%0.570.13%
37
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.0%25.6%0.94−61.4%+278%0.32—
38
AFLAflac Incorporated · Life Insurance
Whole market+19.0%20.8%0.95−54.9%+335%0.33—
39
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%0.07—
40
MSGSMadison Square Garden Sports Corp. · Entertainment
Whole market+18.4%25.6%0.79−41.6%+432%0.36—
41
ACGLArch Capital Group Ltd. · Property & Casualty Insurance
Whole market+20.1%24.5%0.87−53.8%+309%0.10—
42
TJXThe TJX Companies, Inc. · Specialty Retail
Whole market+19.9%22.3%0.93−42.5%+361%0.27—
43
BNYBank of New York Mellon Corp · Banks
Popular alternative+22.7%24.4%0.97−50.5%+341%0.73—
44
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.51—
45
HSBCHSBC Holdings plc · Banks
Popular alternative+33.1%25.9%1.24−62.3%+319%0.45—
46
ETREntergy Corporation · Electric Utilities
Whole market+19.2%22.4%0.90−42.0%+311%0.28—
47
PCARPACCAR Inc · Commercial Vehicles
Whole market+17.9%26.1%0.76−37.9%+314%0.58—
48
NANRState Street SPDR S&P North American Natural Resources ETF · Broad Market
Whole market+17.4%22.6%0.83−49.1%+241%0.300.35%
49
BLXBladex, Inc. · Banks - Regional
Whole market+31.4%25.9%1.19−68.5%+290%0.44—
50
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.32—
51
ORIOld Republic International Corporation · Property & Casualty Insurance
Whole market+17.0%22.2%0.82−47.8%+349%0.43—
52
PPAInvesco Aerospace & Defense ETF · Aerospace & Defense
Whole market+16.3%18.9%0.90−43.9%+344%0.420.58%
53
AIRRFirst Trust RBA American Industrial RenaissanceTM ETF · US Industrials
Whole market+18.3%25.9%0.78−42.4%+407%0.550.69%
54
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.56—
55
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.490.40%
56
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Whole market+25.6%26.2%1.00−64.1%+264%0.47—
57
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.19—
58
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.09—
59
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%-0.060.40%
60
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.4%26.6%0.86−59.3%+383%0.64—
61
CVXChevron Corporation · Integrated Oil & Gas
Whole market+19.5%25.2%0.84−55.8%+238%0.23—
62
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.090.80%
63
TTETotalEnergies SE · Integrated Oil & Gas
Whole market+18.0%25.8%0.78−59.6%+234%0.24—
64
DTMDT Midstream, Inc. · Oil & Gas Midstream
Whole market+24.5%25.2%1.00−23.6%—0.46—
65
RNRRenaissanceRe Holdings Ltd. · Insurance
Whole market+20.1%27.8%0.80−40.7%+215%0.06—
66
NEUNewMarket Corporation · Specialty Chemicals
Whole market+21.0%26.8%0.85−40.7%+165%0.15—
67
ACTEnact Holdings Inc. · Insurance
Whole market+20.5%24.3%0.89−20.2%—0.40—
68
HEIHEICO Corporation · Aerospace & Defense
Whole market+17.3%27.8%0.71−57.7%+809%0.35—
69
AXSAXIS Capital Holdings Limited · Property & Casualty Insurance
Whole market+16.7%25.2%0.74−49.3%+137%0.28—
70
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.490.19%
71
CRAKVanEck Oil Refiners ETF · Energy
Whole market+19.8%20.9%0.97−58.8%+336%0.360.61%
72
GARPiShares MSCI USA Quality GARP ETF · Broad Market
Whole market+17.5%22.5%0.83−31.4%—0.560.15%
73
FRDMFreedom 100 Emerging Markets ETF · International
Whole market+17.3%22.8%0.82−40.5%—0.500.49%
74
ENSGThe Ensign Group, Inc. · Health Care Facilities
Whole market+19.8%26.8%0.81−55.5%+896%0.08—
75
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.1%26.5%1.04−61.0%+214%0.24—
76
UMIUSCF Midstream Energy Income Fund · Energy
Whole market+18.7%19.2%0.99−48.1%—0.510.85%
77
UFOXDefiance Space and Connective Tech ETF · Technology
Whole market+17.2%26.5%0.73−33.9%—0.530.30%
78
EUFNiShares MSCI Europe Financials ETF · Financial Sector Equity
Whole market+18.5%21.8%0.89−53.2%+233%0.620.49%
79
SHELShell plc · Integrated Oil & Gas
Whole market+21.0%24.8%0.90−67.2%+233%0.22—
80
BTIBritish American Tobacco p.l.c. · Tobacco
Whole market+18.7%22.0%0.90−56.1%+98.2%0.30—
81
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%0.29—
82
WMBThe Williams Companies, Inc. · Oil & Gas Midstream
Whole market+24.6%24.0%1.04−68.1%+288%0.40—
83
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Whole market+16.4%17.1%0.98−58.1%+178%0.46—
84
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Whole market+18.7%22.5%0.88−55.1%+163%0.45—
85
XLEState Street Energy Select Sector SPDR ETF · Energy Equity
Whole market+22.6%25.5%0.93−66.8%+189%0.330.08%
86
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.3%24.7%0.94−55.1%+119%0.22—
87
PAAPlains All American Pipeline, L.P. · Oil & Gas Midstream
Whole market+27.0%25.6%1.06−87.9%+64.0%0.53—
88
WESWestern Midstream Partners, LP · Oil & Gas Midstream
Whole market+23.5%27.6%0.91−91.9%+128%0.49—
89
RGAReinsurance Group of America, Incorporated · Insurance
Whole market+19.7%27.3%0.80−65.8%+199%0.42—
90
OHIOmega Healthcare Investors, Inc. · Healthcare REITs
Whole market+16.4%24.2%0.75−66.9%+202%0.16—
91
AMAntero Midstream Corporation · Oil & Gas Midstream
Whole market+20.0%25.9%0.84−92.9%—0.41—
92
PSOPearson plc · Education Services
Whole market+18.5%27.9%0.75−58.4%+155%0.29—
93
PAGPPlains GP Holdings LP · Oil & Gas Midstream
Whole market+26.8%26.1%1.05−88.0%+56.3%0.49—
94
CTRECareTrust REIT, Inc. · Healthcare REITs
Whole market+16.7%24.6%0.76−67.4%+310%0.23—
95
GHCGraham Holdings Company · Industrial Conglomerates
Whole market+17.4%26.3%0.74−62.5%+191%0.52—
96
ATMPBarclays ETN+ Select MLP ETN · Broad Market
Whole market+21.2%21.5%1.01−70.3%+172%0.510.95%
97
NPKNational Presto Industries, Inc. · Aerospace & Defense
Whole market+16.3%27.3%0.69−45.5%+181%0.31—
98
RSPGInvesco S&P 500 Equal Weight Energy ETF · Energy
Whole market+21.6%27.4%0.85−73.2%+158%0.350.40%

C against its popular alternatives

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

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

Green points earned more than C 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%0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityC: 15.1% a year, volatility 29.4%SPY (S&P 500): 12.7% a year, volatility 17.1%CM: 19.2% a year, volatility 21.6%BNY: 22.7% a year, volatility 24.4%SMFG: 33.7% a year, volatility 29.4%TD: 15.8% a year, volatility 20.0%RY: 17.3% a year, volatility 18.2%JPM: 17.3% a year, volatility 24.3%HSBC: 33.1% a year, volatility 25.9%GS: 19.6% a year, volatility 28.6%MS: 16.0% a year, volatility 28.8%USB: 3.3% a year, volatility 29.6%STT: 14.4% a year, volatility 29.9%WFC: 13.1% a year, volatility 29.5%BN: 3.9% a year, volatility 31.1%BBVA: 38.7% a year, volatility 33.3%SAN: 31.6% a year, volatility 33.9%MUFG: 33.2% a year, volatility 29.4%ING: 24.7% a year, volatility 31.1%UBS: 25.4% a year, volatility 30.4%BMO: 13.6% a year, volatility 21.4%AXP: 13.5% a year, volatility 29.3%BAC: 4.0% a year, volatility 26.6%BCS: 18.5% a year, volatility 34.1%DB: 22.1% a year, volatility 37.4%BNS: 12.8% a year, volatility 19.9%PNC: 4.6% a year, volatility 26.8%CSPY (S&P 500)CMBNYSMFGTDRYJPMHSBCGSMSUSBSTTWFCBNBBVASANMUFGINGUBSBMOBACBCSDBPNC15.0%20.0%25.0%30.0%35.0%40.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityC: 15.1% a year, volatility 29.4%SPY (S&P 500): 12.7% a year, volatility 17.1%CM: 19.2% a year, volatility 21.6%BNY: 22.7% a year, volatility 24.4%SMFG: 33.7% a year, volatility 29.4%TD: 15.8% a year, volatility 20.0%RY: 17.3% a year, volatility 18.2%JPM: 17.3% a year, volatility 24.3%HSBC: 33.1% a year, volatility 25.9%GS: 19.6% a year, volatility 28.6%MS: 16.0% a year, volatility 28.8%USB: 3.3% a year, volatility 29.6%STT: 14.4% a year, volatility 29.9%WFC: 13.1% a year, volatility 29.5%BN: 3.9% a year, volatility 31.1%BBVA: 38.7% a year, volatility 33.3%SAN: 31.6% a year, volatility 33.9%MUFG: 33.2% a year, volatility 29.4%ING: 24.7% a year, volatility 31.1%UBS: 25.4% a year, volatility 30.4%BMO: 13.6% a year, volatility 21.4%AXP: 13.5% a year, volatility 29.3%BAC: 4.0% a year, volatility 26.6%BCS: 18.5% a year, volatility 34.1%DB: 22.1% a year, volatility 37.4%BNS: 12.8% a year, volatility 19.9%PNC: 4.6% a year, volatility 26.8%CSPY (S&P 500)CMBNYSMFGTDRYJPMHSBCGSMSUSBWFCBBVASANINGUBSAXPBACBCSDBPNC
All figures
InvestmentAnnual returnVolatility
BBVA Banco Bilbao Vizcaya Argentaria, S.A.+38.7%33.3%
SMFG Sumitomo Mitsui Financial Group, Inc.+33.7%29.4%
MUFG Mitsubishi UFJ Financial Group, Inc.+33.2%29.4%
HSBC HSBC Holdings plc+33.1%25.9%
SAN Banco Santander, S.A.+31.6%33.9%
UBS UBS Group AG+25.4%30.4%
ING ING Groep N.V.+24.7%31.1%
BNY Bank of New York Mellon Corp+22.7%24.4%
DB Deutsche Bank AG+22.1%37.4%
GS The Goldman Sachs Group, Inc.+19.6%28.6%
CM Canadian Imperial Bank of Commerce+19.2%21.6%
BCS Barclays PLC+18.5%34.1%
JPM JPMorgan Chase & Co.+17.3%24.3%
RY Royal Bank of Canada+17.3%18.2%
MS Morgan Stanley+16.0%28.8%
TD The Toronto-Dominion Bank+15.8%20.0%
C This pageCitigroup Inc.+15.1%29.4%
STT State Street Corporation+14.4%29.9%
BMO Bank of Montreal+13.6%21.4%
AXP American Express Company+13.5%29.3%
WFC Wells Fargo & Company+13.1%29.5%
BNS The Bank of Nova Scotia+12.8%19.9%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
PNC The PNC Financial Services Group, Inc.+4.6%26.8%
BAC Bank of America Corporation+4.0%26.6%
BN Brookfield Corporation+3.9%31.1%
USB U.S. Bancorp+3.3%29.6%
Open these 27 in EasyCompare

Has C consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than C 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
C Citigroup Inc. (this page)—−9.3%−4.3%−7.0%+4.8%+26.0%+238%+102%+234%29.4%0.63−56.5%—$206B—
CM QualifiedCanadian Imperial Bank of Commerce5/5 short3/3 longAll-weather−2.0%−3.3%+4.3%+25.8%+44.4%+261%+141%+395%21.6%0.93−47.3%—$103B—
BBVA QualifiedBanco Bilbao Vizcaya Argentaria, S.A.4/5 short3/3 longAll-weather−10.4%+3.1%+11.7%+11.3%+35.2%+281%+413%+542%33.3%1.16−69.6%—$142B—
BNY QualifiedBank of New York Mellon Corp4/5 short3/3 longAll-weather−6.3%−7.7%+7.4%+24.8%+35.3%+272%+179%+341%24.4%0.97−50.5%—$98B—
SAN QualifiedBanco Santander, S.A.4/5 short3/3 longAll-weather−10.2%−1.4%+4.5%+9.8%+35.9%+305%+295%+332%33.9%0.99−73.8%—$194B—
MUFG QualifiedMitsubishi UFJ Financial Group, Inc.5/5 short2/3 long−6.9%+1.8%+19.6%+36.5%+41.3%+184%+319%+483%29.4%1.13−54.9%—$244B—
SMFG QualifiedSumitomo Mitsui Financial Group, Inc.5/5 short2/3 long−7.9%−1.3%+15.9%+28.3%+53.5%+181%+327%+474%29.4%1.14−47.6%—$94B—
TD QualifiedThe Toronto-Dominion Bank5/5 short2/3 long−0.9%+2.1%+16.3%+33.1%+57.5%+141%+109%+310%20.0%0.84−42.0%—$206B—
RY QualifiedRoyal Bank of Canada4/5 short2/3 long−3.5%−4.8%+12.0%+18.9%+39.2%+173%+122%+352%18.2%0.97−40.0%—$276B—
ING QualifiedING Groep N.V.4/5 short2/3 long−10.7%+2.4%+14.0%+18.9%+42.5%+209%+201%+339%31.1%0.87−74.4%—$94B—
JPM QualifiedJPMorgan Chase & Co.3/5 short2/3 long−4.3%−0.6%+6.8%+5.0%+13.0%+150%+122%+537%24.3%0.78−43.6%—$891B—
HSBC QualifiedHSBC Holdings plc3/5 short2/3 long−10.1%−5.9%+2.3%+19.8%+47.7%+201%+318%+319%25.9%1.24−62.3%—$324B—
GS Financial - Capital MarketsThe Goldman Sachs Group, Inc.2/5 short2/3 long−7.8%−15.7%−5.2%−1.8%+18.2%+215%+145%+521%28.6%0.77−48.8%—$258B—
UBS Banks - DiversifiedUBS Group AG2/5 short2/3 long−7.5%−8.3%+10.6%+2.9%+26.3%+116%+210%+374%30.4%0.90−59.8%—$145B—
MS Financial - Capital MarketsMorgan Stanley1/5 short2/3 long−12.5%−14.0%−4.4%+0.8%+13.9%+170%+110%+627%28.8%0.66−51.3%—$285B—
BMO Banks - DiversifiedBank of Montreal4/5 short1/3 long−5.5%−5.3%+10.8%+29.7%+37.6%+146%+89.4%+295%21.4%0.71−51.0%—$116B—
AXP Financial - Credit ServicesAmerican Express Company2/5 short1/3 long+1.8%−9.3%−2.9%−13.8%−7.9%+133%+88.5%+446%29.3%0.58−49.6%—$215B—
BAC Banks - DiversifiedBank of America Corporation1/5 short1/3 long−12.6%−15.8%−5.2%−8.0%−0.6%+107%+21.6%+282%26.6%0.28−49.0%—$354B—
BCS Banks - DiversifiedBarclays PLC1/5 short1/3 long−11.7%−17.1%−6.2%−13.3%+15.1%+242%+134%+238%34.1%0.67−66.0%—$75B—
DB Banks - RegionalDeutsche Bank AG1/5 short1/3 long−17.1%−8.6%−1.6%−17.0%−3.1%+244%+171%+165%37.4%0.72−72.7%—$60B—
BNS Banks - DiversifiedThe Bank of Nova Scotia5/5 short0/3 long−2.3%+6.9%+22.4%+28.9%+50.0%+162%+83.1%+187%19.9%0.71−46.9%—$112B—
USB Banks - RegionalU.S. Bancorp4/5 short0/3 long−1.3%−5.5%+5.5%+12.7%+30.3%+117%+17.6%+94.6%29.6%0.26−52.1%—$92B—
PNC Banks - RegionalThe PNC Financial Services Group, Inc.3/5 short0/3 long−4.4%−10.8%−1.0%+7.9%+25.3%+120%+25.1%+230%26.8%0.30−49.6%—$88B—
STT Asset ManagementState Street Corporation3/5 short0/3 long−9.2%−8.3%+12.1%+31.3%+47.9%+181%+96.2%+212%29.9%0.60−59.6%—$46B—
WFC Banks - DiversifiedWells Fargo & Company2/5 short0/3 long−5.0%−4.3%+1.4%−12.3%−2.4%+119%+85.0%+141%29.5%0.57−64.5%—$248B—
BN Asset ManagementBrookfield Corporation1/5 short0/3 long−1.7%−11.8%−19.8%−19.6%−16.8%+85.9%+20.8%+226%31.1%0.28−51.4%—$83B—
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How did C do year by year?

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

InvestmentYears ahead of C20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
C This pageCitigroup Inc.—+70.4%+41.9%+19.0%−22.1%+0.9%−19.7%+57.9%−28.5%+27.0%+15.9%−4.1%+3.9%+31.8%+50.5%−44.3%+42.9%−50.6%−75.9%−44.8%+19.6%+4.6%+2.8%+41.6%−20.4%+0.1%+23.6%+70.2%−6.8%+79.9%
Rank among alternativesTop quarter in 7 of 297 of 269 of 2614 of 2622 of 2626 of 2623 of 261 of 2617 of 269 of 2614 of 2610 of 2615 of 2613 of 264 of 2624 of 262 of 2626 of 2626 of 2626 of 2618 of 2516 of 2523 of 2519 of 2516 of 256 of 2510 of 242 of 2116 of 216 of 21
SPY S&P 500State Street SPDR S&P 500 ETF13 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%
CM Canadian Imperial Bank of Commerce17 of 28+49.0%+37.9%+26.5%−26.8%+44.7%+9.3%+20.3%−19.8%+23.5%+29.8%−19.6%+4.8%+11.0%+16.8%−3.3%+27.1%+64.3%−37.9%−12.0%+32.5%+13.7%+26.0%+87.9%−14.9%+14.2%+38.0%+1.2%−17.2%—
BBVA Banco Bilbao Vizcaya Argentaria, S.A.17 of 29+154%+14.2%+62.5%+10.0%+22.2%−6.4%+10.9%−35.0%+31.3%−1.5%−19.3%−20.6%+39.6%+18.2%−10.8%−39.7%+53.1%−45.6%+4.6%+39.4%+4.1%+32.9%+47.9%−19.3%−13.1%+8.9%−9.5%+51.7%+85.6%
BNY Bank of New York Mellon Corp18 of 29+54.4%+51.9%+18.5%−19.1%+40.6%−12.9%+9.6%−10.8%+15.7%+17.1%+3.3%+18.3%+38.6%+32.1%−32.8%+9.3%+0.9%−40.4%+20.0%+26.8%−1.2%+4.8%+45.2%−38.9%−23.4%+42.7%+1.6%+41.6%+75.3%
SAN Banco Santander, S.A.15 of 29+165%+14.9%+46.4%−6.8%+10.2%−19.6%−2.2%−28.5%+33.3%+12.3%−37.9%−0.4%+27.4%+22.8%−20.2%−30.2%+91.8%−52.3%+20.2%+47.1%+10.5%+6.8%+77.6%−11.3%−19.8%−7.6%+20.1%+23.7%+53.6%
MUFG Mitsubishi UFJ Financial Group, Inc.13 of 29+40.0%+39.7%+32.7%+26.2%+27.9%−13.7%+15.8%−31.3%+20.7%+2.5%+15.2%−14.6%+26.0%+33.1%−19.9%+13.3%−19.1%−32.3%−24.2%−8.6%+35.4%+31.3%+47.6%−16.0%−33.1%−30.0%+33.4%−24.8%−24.2%
SMFG Sumitomo Mitsui Financial Group, Inc.12 of 19+38.0%+54.8%+25.7%+24.5%+18.6%−10.9%+19.4%−22.2%+18.0%+5.2%+7.7%−28.7%+47.2%+38.4%−19.2%+30.0%−28.6%−43.6%−27.1%——————————
TD The Toronto-Dominion Bank16 of 29+85.3%−13.4%+4.5%−12.2%+41.3%+5.6%+17.5%−12.1%+22.9%+30.9%−14.9%+5.0%+16.1%+16.8%+4.1%+22.7%+85.4%−46.8%+20.4%+16.1%+30.7%+29.7%+61.4%−11.7%−7.2%+11.2%+58.4%−2.9%+52.7%
RY Royal Bank of Canada16 of 29+46.3%+23.8%+12.2%−8.0%+34.1%+8.4%+20.2%−12.9%+23.9%+31.8%−19.3%+6.7%+16.0%+23.3%+1.2%+1.4%+89.3%−39.4%+10.7%+26.0%+50.7%+15.9%+33.6%+15.8%−0.9%+58.5%−9.5%−3.5%+54.8%
ING ING Groep N.V.17 of 29+91.3%+12.2%+32.0%−4.4%+55.4%−21.6%+20.6%−39.4%+36.7%+11.1%+6.4%−7.4%+47.6%+32.5%−26.8%−0.2%−11.7%−69.6%−8.2%+31.9%+20.8%+36.1%+48.7%−31.3%−34.4%+35.1%+0.4%+49.9%+25.1%
JPM JPMorgan Chase & Co.19 of 29+37.3%+44.3%+30.6%−12.6%+27.8%−5.5%+47.3%−6.6%+26.8%+34.5%+8.4%+9.9%+36.7%+36.2%−19.9%+2.3%+34.4%−25.1%−6.9%+25.7%+5.7%+10.0%+60.5%−30.7%−17.4%−10.1%+11.7%+32.9%+25.5%
HSBC HSBC Holdings plc12 of 27+67.9%+34.5%+39.3%+7.8%+20.8%−31.7%+1.5%−16.1%+35.9%+9.9%−11.5%−10.2%+8.5%+45.9%−22.2%−7.5%+22.2%−38.0%−4.0%+18.9%−1.5%+12.6%+52.3%−5.2%−15.3%+6.5%——+15.8%
GS The Goldman Sachs Group, Inc.14 of 26+56.6%+52.0%+15.9%−7.9%+47.6%+17.4%+40.5%−33.5%+7.4%+34.9%−5.8%+10.8%+40.8%+43.4%−45.6%+0.5%+103%−60.4%+8.6%+57.4%+23.9%+6.5%+46.3%−26.0%−12.8%+14.1%———
UBS UBS Group AG14 of 25+57.6%+0.7%+69.8%+7.4%+29.4%+19.5%+7.1%−29.9%+17.4%−14.4%+18.1%−10.2%+23.3%+34.3%−28.2%+6.2%+8.5%−68.9%−21.5%+32.5%+18.2%+27.9%+50.4%+1.7%−8.0%————
MS Morgan Stanley14 of 29+45.2%+39.7%+13.9%−10.3%+46.6%+38.1%+32.7%−22.8%+26.6%+36.1%−16.7%+25.0%+65.4%+27.6%−43.9%−7.5%+88.3%−68.8%−22.1%+46.3%+4.6%−2.0%+48.4%−27.0%−28.1%+12.3%+103%+21.9%+80.3%
BMO Bank of Montreal16 of 29+39.6%+3.0%+14.6%−12.4%+46.9%+3.3%+23.9%−14.9%+15.4%+32.9%−16.8%+10.4%+13.7%+17.3%−0.3%+13.7%+121%−51.9%−0.4%+9.4%+20.4%+21.0%+62.9%+23.0%−9.6%+62.5%−10.8%−6.1%+44.8%
AXP American Express Company15 of 29+26.0%+60.3%+28.7%−8.5%+36.9%−1.1%+32.5%−2.6%+36.2%+8.6%−24.2%+3.7%+59.8%+23.6%+11.6%+7.8%+126%−63.7%−13.4%+19.1%+4.3%+17.6%+37.7%+0.2%−34.5%−0.3%+63.3%+15.7%+59.9%
BAC Bank of America Corporation16 of 29+28.0%+33.9%+4.9%−23.8%+49.6%−11.6%+46.1%−15.0%+35.7%+33.4%−4.8%+15.7%+34.5%+109%−58.1%−11.2%+7.6%−63.1%−18.9%+20.8%+2.4%+21.5%+20.1%+14.6%+42.7%−4.5%−14.0%+1.2%+27.3%
BCS Barclays PLC13 of 29+96.5%+76.2%+6.0%−21.9%+31.6%−12.8%+31.9%−29.3%+0.5%−12.8%−11.4%−14.9%+16.1%+61.7%−31.9%−4.7%+80.0%−73.6%−27.2%+44.2%−4.0%+31.1%+55.0%−23.6%+7.7%+16.0%+30.3%−16.6%+62.3%
DB Deutsche Bank AG13 of 29+133%+29.4%+21.4%−5.9%+14.7%+40.1%−2.9%−56.7%+6.4%−25.0%−17.7%−36.4%+10.9%+19.7%−26.1%−20.1%+75.4%−65.5%−0.6%+42.0%+12.3%+9.8%+83.6%−34.3%−22.1%0.0%+58.2%−16.7%+54.6%
BNS The Bank of Nova Scotia14 of 26+45.1%+17.5%+6.0%−28.8%+40.6%+1.7%+17.5%−19.2%+20.5%+43.7%−25.1%−4.2%+11.5%+21.0%−9.6%+27.1%+82.6%−44.4%+16.6%+16.8%+21.4%+40.4%+59.9%+232%+17.5%+25.4%———
USB U.S. Bancorp17 of 29+16.4%+15.6%+4.8%−19.1%+24.3%−17.9%+33.6%−12.4%+6.6%+23.4%−2.8%+13.8%+29.6%+20.9%+2.3%+20.7%−9.0%−16.6%−8.0%+26.3%−0.5%+10.6%+45.3%+5.3%−6.8%+13.2%−30.5%+64.5%+90.1%
PNC The PNC Financial Services Group, Inc.17 of 29+12.2%+29.4%+2.7%−18.6%+38.2%−2.8%+40.9%−17.0%+26.0%+25.8%+6.8%+20.3%+36.4%+3.6%−3.1%+15.8%+10.2%−22.2%−8.3%+23.6%+11.7%+8.9%+36.2%−22.5%−20.7%+70.4%−15.0%−2.2%+56.7%
STT State Street Corporation14 of 29+35.5%+30.2%+3.5%−13.8%+31.0%−4.8%+29.3%−34.0%+27.8%+19.8%−13.9%+8.7%+58.6%+19.2%−11.4%+6.6%+10.8%−50.7%+21.9%+23.2%+14.5%−4.4%+35.4%−24.5%−15.2%+71.1%+5.0%+21.5%+81.6%
WFC Wells Fargo & Company16 of 29+35.6%+46.5%+22.9%−11.9%+61.1%−41.6%+21.4%−21.8%+13.2%+4.7%+1.8%+24.1%+36.7%+27.3%−9.6%+15.7%−6.3%+1.7%−12.1%+16.9%+4.5%+9.0%+29.5%+10.3%−20.2%+40.5%+3.3%+5.1%+81.9%
BN Brookfield Corporation19 of 29+20.6%+44.1%+29.1%−35.0%+48.9%+8.5%+52.3%−10.7%+34.2%+8.0%−4.4%+31.1%+11.5%+53.5%−16.3%+53.6%+49.6%−56.5%+12.3%+45.8%+42.7%+81.4%+54.9%+19.6%+32.2%+16.8%+4.1%−18.2%+28.5%
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Risk and diversification

How C 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 C's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents C'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 C fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringC fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−98.0%−49.7%Dec 2006Mar 20092.3 yearsNot yet—
No named crash−56.3%−12.4%Apr 1998Oct 19986 monthsApr 19996 months
Dot-com bust−52.7%−46.2%Aug 2000Jul 200223 monthsJan 200418 months
No named crash−51.6%—Jul 1990Oct 19903 monthsNov 199113 months
No named crash−41.6%—Sep 1987Dec 19873 monthsApr 19902.3 years

How did C do in stock market crashes?

This section measures how far C, 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 C.

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
C This pageCitigroup Inc.—−11.7%−39.2%−54.8%−33.1%−6.7%−40.3%−42.6%−1.0%−97.7%−52.7%
SPY S&P 500State Street SPDR S&P 500 ETF8 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
CM Canadian Imperial Bank of Commerce10 of 10−7.0%−36.2%−43.6%−22.2%−5.9%−25.3%−12.9%0.0%−71.8%−39.8%
BBVA Banco Bilbao Vizcaya Argentaria, S.A.7 of 10−10.9%−39.6%−47.9%−22.7%−5.4%−41.0%−32.7%0.0%−75.7%−55.9%
BNY Bank of New York Mellon Corp6 of 10−11.4%−40.5%−40.1%−16.2%−5.4%−27.0%−30.9%−0.5%−62.4%−62.6%
SAN Banco Santander, S.A.5 of 10−11.4%−41.0%−48.1%−19.0%−6.0%−44.7%−33.2%−0.9%−76.1%−58.4%
MUFG Mitsubishi UFJ Financial Group, Inc.7 of 10−9.5%−33.4%−33.0%−27.0%−6.7%−45.1%−20.7%−0.3%−65.5%−65.1%
SMFG Sumitomo Mitsui Financial Group, Inc.7 of 9−9.2%−24.7%−32.2%−23.2%−4.5%−44.2%−19.8%−2.2%−70.9%—
TD The Toronto-Dominion Bank10 of 10−6.7%−29.0%−41.0%−20.9%−5.5%−18.1%−19.6%0.0%−63.4%−44.1%
RY Royal Bank of Canada10 of 10−3.8%−26.0%−40.0%−17.1%−5.7%−23.1%−21.8%0.0%−63.1%−21.6%
ING ING Groep N.V.5 of 10−10.7%−43.4%−56.9%−24.1%−5.8%−35.4%−47.4%−3.6%−93.0%−66.4%
JPM JPMorgan Chase & Co.9 of 10−5.4%−37.9%−42.5%−21.3%−5.6%−22.0%−32.1%−0.1%−67.7%−74.0%
HSBC HSBC Holdings plc10 of 10−7.3%−31.8%−20.5%−13.1%−4.6%−30.8%−25.1%0.0%−73.8%−41.4%
GS The Goldman Sachs Group, Inc.8 of 10−9.7%−30.5%−42.8%−33.3%−5.3%−31.2%−34.3%0.0%−78.8%−54.7%
UBS UBS Group AG7 of 9−9.5%−32.5%−42.3%−28.5%−8.2%−36.7%−39.7%−0.9%−87.5%—
MS Morgan Stanley6 of 10−8.2%−32.4%−50.6%−24.6%−6.7%−43.9%−47.7%0.0%−86.2%−72.0%
BMO Bank of Montreal9 of 10−5.5%−30.5%−49.4%−23.5%−6.2%−18.9%−16.4%0.0%−68.5%−26.5%
AXP American Express Company7 of 10−9.8%−31.6%−49.6%−20.7%−8.6%−36.6%−18.1%−4.5%−83.4%−59.1%
BAC Bank of America Corporation6 of 10−12.4%−38.7%−47.8%−26.4%−6.9%−37.8%−45.2%−0.6%−93.4%−36.3%
BCS Barclays PLC5 of 10−10.2%−48.1%−57.1%−22.9%−4.1%−50.6%−44.9%−4.8%−93.9%−38.4%
DB Deutsche Bank AG3 of 10−11.6%−54.2%−48.6%−36.3%−9.3%−54.8%−46.8%0.0%−82.7%−64.9%
BNS The Bank of Nova Scotia10 of 10−4.6%−35.4%−43.0%−17.7%−6.1%−24.3%−19.8%0.0%−63.8%−23.6%
USB U.S. Bancorp7 of 10−19.7%−36.8%−47.2%−20.4%−7.5%−17.7%−24.7%−1.2%−76.1%−42.8%
PNC The PNC Financial Services Group, Inc.10 of 10−10.4%−34.0%−47.8%−23.2%−5.4%−20.8%−24.1%−0.4%−76.7%−49.6%
STT State Street Corporation6 of 10−14.6%−41.4%−45.1%−32.3%−8.3%−34.1%−28.3%−1.9%−82.3%−50.7%
WFC Wells Fargo & Company7 of 10−12.4%−36.3%−47.1%−20.1%−13.5%−20.9%−21.1%−1.2%−79.0%−29.2%
BN Brookfield Corporation10 of 10−10.5%−36.2%−51.4%−18.1%−5.2%−22.7%−18.7%0.0%−70.9%−20.7%
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How closely does C 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 C 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 C's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
C This pageCitigroup Inc.131%165%0.801.49
MUFG Mitsubishi UFJ Financial Group, Inc.84%42%2.010.66
SMFG Sumitomo Mitsui Financial Group, Inc.84%43%1.940.65
HSBC HSBC Holdings plc79%53%1.490.58
BBVA Banco Bilbao Vizcaya Argentaria, S.A.121%97%1.251.11
JPM JPMorgan Chase & Co.117%103%1.141.09
RY Royal Bank of Canada97%88%1.110.88
SAN Banco Santander, S.A.101%92%1.101.02
TD The Toronto-Dominion Bank89%80%1.100.88
MS Morgan Stanley142%137%1.041.39
AXP American Express Company117%113%1.031.16
CM Canadian Imperial Bank of Commerce108%106%1.021.07
GS The Goldman Sachs Group, Inc.136%133%1.021.39
UBS UBS Group AG116%120%0.971.18
BNY Bank of New York Mellon Corp115%120%0.961.08
BMO Bank of Montreal104%112%0.931.12
ING ING Groep N.V.136%155%0.881.36
BAC Bank of America Corporation127%146%0.871.36
BCS Barclays PLC113%131%0.861.26
DB Deutsche Bank AG102%118%0.861.21
PNC The PNC Financial Services Group, Inc.108%127%0.851.15
BNS The Bank of Nova Scotia97%120%0.811.05
STT State Street Corporation128%166%0.771.48
BN Brookfield Corporation125%162%0.771.42
WFC Wells Fargo & Company96%129%0.751.13
USB U.S. Bancorp89%130%0.691.05
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What diversifies C?

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

ETFs

InvestmentCorrelation5Y returnSharpe202220202018201520112009200820072002199880/20 mix volatility80/20 mix annual return
C Citigroup Inc. (this page)1.00+102%0.63−22.1%−19.7%−28.5%−4.1%−44.3%−50.6%−75.9%−44.8%−20.4%−6.8%28.4%+17.0%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.49+119%1.48+3.8%−9.0%−5.2%———————23.7%+17.5%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.33+225%1.34+6.0%+3.9%−19.8%+7.7%−16.1%+2.0%−20.8%−7.4%——23.7%+19.6%
GCOW InternationalPacer Global Cash Cows Dividend ETF0.40+93.4%1.04+5.5%−4.3%−8.0%———————24.1%+16.8%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.48+101%1.04+10.4%−13.4%−8.7%−25.3%——————24.2%+17.2%
GLD CommoditiesSPDR Gold Shares-0.06+126%0.96−0.8%+24.8%−1.9%−10.7%+9.6%+24.0%+4.9%+30.4%——22.8%+18.3%
FLTW TechnologyFranklin FTSE Taiwan ETF0.49+168%0.94−27.5%+29.8%−9.3%———————25.7%+18.8%
XLE EnergyState Street Energy Select Sector SPDR ETF0.33+177%0.93+64.4%−32.7%−18.2%−21.5%+2.8%+21.8%−39.0%+36.8%−14.8%—24.9%+19.0%
EDIV InternationalState Street SPDR S&P Emerging Markets Dividend ETF0.41+69.9%0.84−15.3%−10.0%−6.2%−27.4%——————23.9%+16.4%

Stocks

InvestmentCorrelation5Y returnSharpe202220202018201520112009200820072002199880/20 mix volatility80/20 mix annual return
C Citigroup Inc. (this page)1.00+102%0.63−22.1%−19.7%−28.5%−4.1%−44.3%−50.6%−75.9%−44.8%−20.4%−6.8%28.4%+17.0%
CAH Medical - DistributionCardinal Health, Inc.0.21+479%1.55+54.1%+10.1%−24.5%+12.6%+8.1%−4.4%−39.6%−9.8%−8.3%+51.7%24.4%+21.9%
CLS Hardware, Equipment & PartsCelestica Inc.0.49+3,143%1.47+1.3%−2.4%−16.3%−6.0%−24.4%+105%−20.5%−25.7%−65.1%—30.2%+34.0%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.35+1,636%1.46+17.0%+6.7%+0.8%+67.7%−17.0%+17.8%−15.2%+2.1%−9.4%−9.5%27.1%+30.6%
MCK Medical - DistributionMcKesson Corporation0.00+413%1.44+51.8%+27.1%−28.4%−4.5%+11.8%+62.9%−40.4%+29.7%−27.2%+46.9%23.3%+21.6%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.25+690%1.41+86.6%−27.4%−8.2%+17.4%——————25.1%+24.0%
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Common questions

What was C's worst drawdown?

C's deepest decline since it began trading in 1986 was 98.0%, from December 2006 to March 2009. It has not yet climbed back to that peak.

What were C's best and worst years?

Over 29 full calendar years, C's best year was 1997, when it returned 79.9%. Its worst was 2008, with a return of -75.9%.

Is there a better investment than C?

Among C's popular alternatives, RY, JPM and CM earned more than C with less volatility over the past 5 years. RY returned 17.3% a year at 18.2% volatility, against 15.1% a year at 29.4%. Looking beyond its popular alternatives, CBOE (capital markets) earned more than C with less volatility over the past 5 years: 21.5% a year at 25.1% volatility, against 15.1% a year at 29.4%.

Is C more volatile than the S&P 500?

Yes. C's volatility over the past 5 years was 29.4%, 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, C's return lands within 29.4% 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 C's Sharpe ratio?

C's Sharpe ratio over the past 5 years was 0.63, against 0.79 for the S&P 500, so C 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 C with the S&P 500?

Over the past 5 years, C's monthly returns had a correlation of 0.62 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against C instead: the lower it is, the more that option would diversify a C holding.

What are the best alternatives to C?

Of the 25 popular alternatives we compared, 11 outperformed C in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: CM, BBVA and BNY.

Did C outperform the S&P 500?

C finished ahead of the S&P 500 (SPY) in 14 of 29 full calendar years. In 2025, it returned +70.4%, against +17.7% for the index.

How did C do in stock market crashes?

C fell less than the S&P 500 (SPY) in one of the ten major crashes it has traded through, and further in eight. The clearest case was the 2008 financial crisis, when C fell 97.7% and the S&P 500 fell 55.2%.

What diversifies C?

These had a low correlation with C over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.49), DXJ (correlation 0.33) and GCOW (correlation 0.40); among large stocks, CAH (correlation 0.21), CLS (correlation 0.49) and FIX (correlation 0.35). A correlation near zero means the two have moved largely independently.

How we measure

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Popular alternatives to C