# How Coca-Cola Europacific Partners (CCEP) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/ccep
> 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 CCEP alone. It places CCEP (Coca-Cola Europacific Partners PLC) against 14 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 CCEP stands in the market, and of the alternatives worth a closer look.

Period covered: CCEP's full trading record, from November 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** CCEP has outpaced the market, rising 17.8% over the past 6 months against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. Its food & beverage peers split over the past 6 months: KDP (Keurig Dr Pepper) rose 32.5%, while PEP (PepsiCo) fell 12.8%.
- **Stock or market?:** CCEP rose 6.8% over the past 3 months, 2.8 points ahead of the food & beverages ETF XLP (State Street Consumer Staples Select Sector SPDR ETF), which rose 4.1%. The S&P 500 rose 3.9%. Last month cut against the tape: CCEP rose 12.8% while the S&P 500 fell 0.6%.
- **Past 1 to 3 years:** Over the past year, CCEP rose 28.3% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (116% against 89.3%).
- **Long term:** CCEP turned $10,000 into $39,200 over the past decade, against $42,100 in the S&P 500. On the flip side, the past 5 years have been the better stretch: CCEP rose 146% against 81.7% for the S&P 500, after trailing over the decade.
- **In a crash:** In the Covid crash, CCEP fell 47.6%, against 33.7% for the S&P 500. That was more than KO (Coca-Cola, 37.0%) but less than CELH (Celsius, 51.8%). CCEP fell further than the S&P 500 in three of the last three sell-offs, including the Covid crash (47.6% against 33.7%).
- **Diversification:** CCEP is some diversification, but not a hedge: a correlation of 0.34 with the S&P 500 over 5 years and 0.33 with the total US market, less closely than 62% of stocks worth at least $300 million. Over 10 years CCEP kept more of the market's gains than of its losses: 69% of the S&P 500's gains in rising months and 56% of its losses in falling ones, with a beta of 0.66.
- **Better options**
  - **Popular alternatives:** COKE (Coca-Cola Consolidated) was ahead of CCEP in most short and long periods, though with much bigger swings (38.0% volatility against 23.2%).
  - **Whole market:** Few investments have done better on both counts: only five of the 3,633 stocks and funds worth at least $500 million earned more than CCEP with less volatility over the past 5 years, among them MPLX, DXJ (WisdomTree Japan Hedged Equity Fund) and DBJP (Xtrackers MSCI Japan Hedged Equity ETF).

## How much would $10,000 in CCEP have grown?

This chart tracks a hypothetical $10,000 investment in CCEP over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of CCEP over the same span and CCEP's popular alternatives, among those that traded for the entire period.

- $10,000 invested in CCEP at the end of September 1997 would have grown to $129,076 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of CCEP, and MNST finished highest, at $45,663,831.

## CCEP 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.

- CCEP's deepest decline since it began trading in 1986 was 79.5%, from April 1998 to November 2008. It took 24 months from the low to climb back to its old high.
- CCEP is trading within 1% of its all-time high.
- Over 29 full calendar years, CCEP's best was 1997, when it returned 121%, and its worst was 2008, when it lost 52.9%. It lost money in six of those years.

- Type: Stock, Consumer Staples (Beverages - Non-Alcoholic)
- Trading since: November 24, 1986
- Market value: $50B
- Volatility (5 years): 23.2%; Sharpe ratio: 0.90
- Worst decline ever: −79.5%, from April 20, 1998 to November 20, 2008; back at its high by November 10, 2010

| Period | CCEP total return |
| --- | --- |
| 1 month | +12.8% |
| 3 months | +6.8% |
| 6 months | +17.8% |
| year to date | +29.9% |
| 1 year | +28.3% |
| 3 years | +116% |
| 5 years | +146% |
| 10 years | +292% |

## CCEP against the whole market

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

### How does CCEP rank among all stocks?

This section ranks CCEP on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- On return for the risk taken (the Sharpe ratio), CCEP ranks in the top 6% of the 2,893 stocks worth at least $300 million.

| Measure | CCEP | Rank |
| --- | --- | --- |
| 1-year return | +28.3% | 1,019 of 3,287 (top 32%) |
| 3-year return | +116% | 802 of 3,017 (top 27%) |
| 5-year return | +146% | 466 of 2,893 (top 17%) |
| 10-year return | +292% | 608 of 2,202 (top 28%) |
| Volatility, 5 years | 23.2% | 221 of 2,893 (top 8%) |
| Sharpe ratio, 5 years | 0.90 | 174 of 2,893 (top 7%) |
| Worst decline, past 10 years | −48.8% | 416 of 2,187 (top 20%) |

### What has beaten CCEP 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).

- One stock and four ETFs worth at least $500 million sit in the green region: each earned more than CCEP over the past 5 years with smaller price swings. That is fewer than 1% of the 3,633 screened. Few investments beat it on both counts.
- Among those with at least half CCEP's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 18% less than CCEP's 23.2%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.90 for CCEP.

### Is there a better investment than CCEP?

The table below lists investments that beat CCEP 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 CCEP's popular alternatives, COKE was ahead of CCEP in most short and long periods, though with much bigger swings (38.0% volatility against 23.2%).
- Few investments have done better on both counts: only five of the 3,633 stocks and funds worth at least $500 million earned more than CCEP with less volatility over the past 5 years, among them MPLX, DXJ and DBJP.

The 4 strongest of 5 investments that beat CCEP 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 CCEP | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| CCEP: Coca-Cola Europacific Partners PLC (this page) |  | +19.7% | 23.2% | 0.90 | −48.8% | +292% |  |  |
| DXJ: WisdomTree Japan Hedged Equity Fund | International Equity | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [MPLX](https://easycompare.io/research/mplx): MPLX Lp | Oil & Gas Midstream | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.37 | Higher return, lower volatility |
| DBJP: Xtrackers MSCI Japan Hedged Equity ETF | International | +20.9% | 19.2% | 1.09 | −31.3% | +348% | 0.34 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| ATMP: Barclays ETN+ Select MLP ETN | Broad Market | +21.2% | 21.5% | 1.01 | −70.3% | +172% | 0.32 | Higher return, lower volatility |

## CCEP against its popular alternatives

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

### How do CCEP'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.

- None of the 14 popular alternatives earned more than CCEP over the past 5 years with smaller price swings, so every higher return on the map came with a bumpier ride.
- Eight of the 14 popular alternatives earned less than CCEP over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, CCEP returned 19.7% a year, more than the S&P 500's 12.7%, with higher volatility (23.2% against 17.1%).

### Has CCEP consistently beaten its popular alternatives?

This section compares CCEP with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Only one of the 14 popular alternatives, COKE, outperformed CCEP in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- KO earned more for the risk it took than CCEP (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 CCEP | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| CCEP: Coca-Cola Europacific Partners PLC (this page) | +28.3% | +116% | +146% | +292% |  |  | 0.90 |
| COKE: Coca-Cola Consolidated, Inc. | +61.7% | +255% | +461% | +1,569% | 3/5 short-term, 3/3 long-term | consistent | 1.10 |
| KOF: Coca-Cola FEMSA, S.A.B. de C.V. | +46.7% | +96.0% | +174% | +119% | 2/5 short-term, 1/3 long-term |  | 0.94 |
| CELH: Celsius Holdings, Inc. | −53.5% | −44.5% | −4.3% | +4,120% | 0/5 short-term, 1/3 long-term |  | 0.32 |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | +40.2% | +86.8% | +98.2% | +204% | 4/5 short-term, 0/3 long-term |  | 0.91 |
| [KDP](https://easycompare.io/research/kdp): Keurig Dr Pepper Inc. | +28.7% | +31.9% | +13.4% | +281% | 3/5 short-term, 0/3 long-term |  | 0.23 |
| [ABEV](https://easycompare.io/research/abev): Ambev S.A. | +53.0% | +62.0% | +60.4% | −21.1% | 3/5 short-term, 0/3 long-term |  | 0.46 |
| [MNST](https://easycompare.io/research/mnst): Monster Beverage Corporation | +34.9% | +88.2% | +121% | +285% | 2/5 short-term, 0/3 long-term |  | 0.77 |
| [FMX](https://easycompare.io/research/fmx): Fomento Económico Mexicano, S.A.B. de C.V. | +44.0% | +53.7% | +92.9% | +79.7% | 2/5 short-term, 0/3 long-term |  | 0.64 |
| FIZZ: National Beverage Corp. | +6.7% | −5.6% | −21.8% | +108% | 1/5 short-term, 0/3 long-term |  | -0.02 |
| BALL: Ball Corporation | +33.6% | +51.5% | −25.9% | +78.6% | 1/5 short-term, 0/3 long-term |  | -0.04 |
| CCK: Crown Holdings, Inc. | +22.3% | +50.9% | +14.4% | +121% | 0/5 short-term, 0/3 long-term |  | 0.24 |
| [MDLZ](https://easycompare.io/research/mdlz): Mondelez International, Inc. | +5.5% | +9.2% | +21.5% | +93.4% | 0/5 short-term, 0/3 long-term |  | 0.29 |
| [PEP](https://easycompare.io/research/pep): PepsiCo, Inc. | −9.2% | −6.7% | −2.3% | +72.6% | 0/5 short-term, 0/3 long-term |  | 0.07 |
| AMCR: Amcor plc | +16.5% | +23.9% | −4.6% | — | 0/5 short-term, 0/3 long-term |  | 0.09 |

### How did CCEP do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where CCEP ranked among its popular alternatives each year.

- CCEP finished ahead of the S&P 500 in 15 of its 29 full calendar years.
- Among its popular alternatives, CELH came out ahead of CCEP most often, in 12 of the 18 years both traded.
- Ranked against its popular alternatives each year, CCEP finished in the top quarter in six of 29 years and in the bottom quarter in six. In 2025, it ranked 8 of 15.

| Year | CCEP | SPY |
| --- | --- | --- |
| 2025 | +21.2% | +17.7% |
| 2024 | +18.3% | +24.9% |
| 2023 | +24.5% | +26.2% |
| 2022 | +2.3% | −18.2% |
| 2021 | +15.6% | +28.7% |
| 2020 | +0.5% | +18.3% |
| 2019 | +13.8% | +31.2% |
| 2018 | +18.6% | −4.6% |
| 2017 | +30.0% | +21.7% |
| 2016 | −9.3% | +12.0% |

## Risk and diversification

How CCEP 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 CCEP's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all four of CCEP's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: CCEP fell 29.5% from June 2021 to March 2022, while the S&P 500 slipped only 0.2%.
- The slowest recovery came after CCEP fell 46.3% from August 1987 to August 1992; it did not regain that peak until February 1995, two years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −79.5% | April 20, 1998 | November 20, 2008 | November 10, 2010 | −20.7% | dot-com bust |
| −48.8% | October 18, 2019 | March 23, 2020 | April 23, 2021 | −24.4% | Covid crash |
| −46.3% | August 11, 1987 | August 24, 1992 | February 2, 1995 | — |  |
| −29.5% | June 22, 2021 | March 7, 2022 | March 31, 2023 | −0.2% | 2022 bear market |
| −23.5% | September 8, 2016 | December 6, 2016 | May 19, 2017 | +2.0% |  |

### How did CCEP do in stock market crashes?

This section measures how far CCEP, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- Among its popular alternatives, KDP held up best, falling less than CCEP in six of the eight crashes they both traded through.
- CCEP fell less than the S&P 500 in five of the ten crashes it has traded through. The clearest case was the late-2018 sell-off, when CCEP fell 7.4% and the S&P 500 fell 19.3%.

| Crash | Dates | CCEP fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −40.3% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −71.0% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −0.6% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −20.4% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −13.8% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −2.9% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −7.4% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −47.6% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −28.2% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −1.5% | −3.4% |

### How closely does CCEP 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.

- Over the past 10 years, CCEP captured 69% of the S&P 500's gains in rising months and 56% of its losses in falling months, with a beta of 0.66. That is a defensive profile: it gave up some of the market's upside in exchange for smaller losses.
- KDP took just 38% of the S&P 500's losses, against 56% for CCEP, while still keeping 59% of its gains.
- Four of the 13 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than CCEP's 1.25, led by COKE, KDP and CELH.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| CCEP: Coca-Cola Europacific Partners PLC (this page) | 69.0% | 56.0% | 0.66 |
| COKE: Coca-Cola Consolidated, Inc. | 123% | 60.0% | 0.81 |
| KOF: Coca-Cola FEMSA, S.A.B. de C.V. | 63.0% | 73.0% | 0.68 |
| CELH: Celsius Holdings, Inc. | 195% | 127% | 1.54 |
| [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 |
| [ABEV](https://easycompare.io/research/abev): Ambev S.A. | 49.0% | 121% | 0.85 |
| [MNST](https://easycompare.io/research/mnst): Monster Beverage Corporation | 87.0% | 87.0% | 0.80 |
| [FMX](https://easycompare.io/research/fmx): Fomento Económico Mexicano, S.A.B. de C.V. | 50.0% | 63.0% | 0.72 |
| FIZZ: National Beverage Corp. | 73.0% | 99.0% | 0.94 |
| BALL: Ball Corporation | 51.0% | 73.0% | 0.74 |
| CCK: Crown Holdings, Inc. | 69.0% | 91.0% | 0.87 |
| [MDLZ](https://easycompare.io/research/mdlz): Mondelez International, Inc. | 45.0% | 55.0% | 0.52 |
| [PEP](https://easycompare.io/research/pep): PepsiCo, Inc. | 48.0% | 65.0% | 0.48 |

### What diversifies CCEP?

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 CCEP into GLD would have cut the portfolio's volatility by 16% over the past 5 years and raised its annual return (+16.6% for CCEP alone, +17.5% for the mix).
- XLE made money in five of the six calendar years in which CCEP lost money.
- Among large ETFs, DXJ, EMLP and SMH have moved largely independently of CCEP over the past 5 years, with correlations of 0.46 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with CCEP | 5Y return | Volatility | Sharpe | Rose in CCEP's 6 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.39 | +225% | 19.1% | 1.34 | 1 of 6 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.46 | +101% | 14.5% | 1.04 | 1 of 6 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.18 | +323% | 36.9% | 0.97 | 2 of 6 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.22 | +126% | 18.9% | 0.96 | 3 of 6 |
| DIVO: Amplify CWP Enhanced Dividend Income ETF | 0.47 | +69.0% | 11.9% | 0.95 | 0 of 6 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.27 | +136% | 20.8% | 0.93 | 1 of 6 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.19 | +177% | 25.5% | 0.93 | 5 of 6 |
| FDVV: Fidelity High Dividend ETF | 0.49 | +85.9% | 14.6% | 0.92 | 0 of 6 |

## Common questions

### What was CCEP's worst drawdown?

CCEP's deepest decline since it began trading in 1986 was 79.5%, from April 1998 to November 2008. It took 24 months from the low to climb back to its old high.

### What were CCEP's best and worst years?

Over 29 full calendar years, CCEP's best year was 1997, when it returned 121%. Its worst was 2008, with a return of -52.9%.

### Is there a better investment than CCEP?

Among CCEP's popular alternatives, COKE was ahead of CCEP in most short and long periods, though with much bigger swings (38.0% volatility against 23.2%). Few investments have done better on both counts: only five of the 3,633 stocks and funds worth at least $500 million earned more than CCEP with less volatility over the past 5 years, among them MPLX, DXJ and DBJP.

### Is CCEP more volatile than the S&P 500?

Yes. CCEP's volatility over the past 5 years was 23.2%, 1.4 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, CCEP's return lands within 23.2% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is CCEP's Sharpe ratio?

CCEP's Sharpe ratio over the past 5 years was 0.90, against 0.79 for the S&P 500, so CCEP earned more 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 CCEP with the S&P 500?

Over the past 5 years, CCEP's monthly returns had a correlation of 0.34 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 CCEP instead: the lower it is, the more that option would diversify a CCEP holding.

### What are the best alternatives to CCEP?

Of the 14 popular alternatives we compared, one outperformed CCEP in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: COKE.

### Did CCEP outperform the S&P 500?

CCEP finished ahead of the S&P 500 (SPY) in 15 of 29 full calendar years. In 2025, it returned +21.2%, against +17.7% for the index.

### How did CCEP do in stock market crashes?

CCEP fell less than the S&P 500 (SPY) in five of the ten major crashes it has traded through, and further in five. The clearest case was the late-2018 sell-off, when CCEP fell 7.4% and the S&P 500 fell 19.3%.

### What diversifies CCEP?

These had a low correlation with CCEP over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.39), EMLP (correlation 0.46) and SMH (correlation 0.18); among large stocks, CAH (correlation 0.31), CLS (correlation 0.04) and FIX (correlation 0.20). 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)
- [Ambev (ABEV) Performance, Alternatives and Market Rank](https://easycompare.io/research/abev)
- [Monster Beverage (MNST) Performance, Alternatives and Market Rank](https://easycompare.io/research/mnst)
- [Fomento Económico Mexicano, S.A.B. de C.V. (FMX) Performance, Alternatives and Market Rank](https://easycompare.io/research/fmx)
- [Mondelez International (MDLZ) Performance, Alternatives and Market Rank](https://easycompare.io/research/mdlz)
- [PepsiCo (PEP) Performance, Alternatives and Market Rank](https://easycompare.io/research/pep)
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## Explore further

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