# How Capital One Financial (COF) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/cof
> 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 COF alone. It places COF (Capital One Financial Corporation) 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 COF stands in the market, and of the alternatives worth a closer look.

Period covered: COF's full trading record, from November 1994 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** COF is 20.9% below its high, bear-market territory, while the S&P 500 sits 1.3% below a record. COF has gone against the market, falling 1.2% over the past 6 months while the S&P 500 rose 9.1%.
- **Stock or market?:** COF fell 2.2% over the past 3 months, in line with the consumer finance ETF XLF (State Street Financial Select Sector SPDR ETF), which fell 0.2%. The S&P 500 rose 3.9%. Its consumer finance peers did not move as one over the past 3 months: BFH (Bread Financial) rose 5.4%, while BAC (Bank of America) fell 15.8%.
- **Past 1 to 3 years:** Over the past year, COF fell 4.7% while the S&P 500 rose 15.8%. On the flip side, the last two calendar years both went the same way: COF rose 37.6% in 2025, while the S&P 500 rose 15.8%.
- **Long term:** COF turned $10,000 into $32,200 over the past decade, against $42,100 in the S&P 500.
- **In a crash:** Across seven sell-offs, COF has typically fallen 1.6 times as far as the S&P 500. In the Covid crash, COF fell 58.8%, against 33.7% for the S&P 500. That was more than JPM (JPMorgan Chase & Co., 42.5%) but less than SYF (Synchrony Financial, 62.0%).
- **Diversification:** Against the S&P 500, COF has a correlation of 0.52 over 5 years, more closely than 78% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge.
- **Better options**
  - **Nearby categories and themes:** RY (Royal Bank of Canada, banks) and TD (Toronto-Dominion Bank, banks) earned more than COF with less volatility over the past 5 years. RY returned 17.3% a year at 18.2% volatility, against 4.9% a year at 35.2%.
  - **Whole market:** 1,154 of the 3,633 stocks and funds worth at least $500 million earned more than COF with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and MSFT (Microsoft).

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

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

- $10,000 invested in COF at the end of September 1997 would have grown to $178,099 by September 2026, more 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 COF, and FICO finished highest, at $470,975.

## COF 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.

- COF's deepest decline since it began trading in 1994 was 90.2%, from March 2006 to March 2009. It took about five years from the low to climb back to its old high.
- COF is still 20.9% below its all-time high.
- Over 29 full calendar years, COF's best was 1998, when it returned 113%, and its worst was 2002, when it lost 44.8%. It lost money in ten of those years.

- Type: Stock, Financials (Financial - Credit Services)
- Trading since: November 16, 1994
- Market value: $124B
- Volatility (5 years): 35.2%; Sharpe ratio: 0.31
- Worst decline ever: −90.2%, from March 10, 2006 to March 6, 2009; back at its high by June 9, 2014

| Period | COF total return |
| --- | --- |
| 1 month | −1.6% |
| 3 months | −2.2% |
| 6 months | −1.2% |
| year to date | −17.8% |
| 1 year | −4.7% |
| 3 years | +134% |
| 5 years | +27.0% |
| 10 years | +222% |

## COF against the whole market

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

### How does COF rank among all stocks?

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

- COF's 3-year return ranks in the top 23% of the 3,017 stocks worth at least $300 million with 3 years of history.

| Measure | COF | Rank |
| --- | --- | --- |
| 1-year return | −4.7% | 2,175 of 3,287 (top 67%) |
| 3-year return | +134% | 684 of 3,017 (top 23%) |
| 5-year return | +27.0% | 1,370 of 2,893 (top 48%) |
| 10-year return | +222% | 792 of 2,202 (top 36%) |
| Volatility, 5 years | 35.2% | 1,147 of 2,893 (top 40%) |
| Sharpe ratio, 5 years | 0.31 | 1,513 of 2,893 (top 53%) |
| Worst decline, past 10 years | −60.3% | 890 of 2,187 (top 41%) |

### What has beaten COF 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).

- 539 stocks and 615 ETFs worth at least $500 million sit in the green region: each earned more than COF over the past 5 years with smaller price swings. That is 32% of the 3,633 screened.
- Among those with at least half COF's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 30% less than COF's 35.2%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.31 for COF. HWM earned the most, 47.3% a year, while still swinging less than COF (32.5% against 35.2%).
- Among COF's popular alternatives, JPM, V and C are in the region. JPM earned 17.3% a year against 4.9% a year for COF, at 24.3% volatility, 31% less than COF's 35.2%.

### Is there a better investment than COF?

The table below lists investments that beat COF 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 COF's popular alternatives, JPM, V and MA earned more than COF with less volatility over the past 5 years. JPM returned 17.3% a year at 24.3% volatility, against 4.9% a year at 35.2%.
- Looking beyond its popular alternatives, RY (banks) and TD (banks) earned more than COF with less volatility over the past 5 years. RY returned 17.3% a year at 18.2% volatility, against 4.9% a year at 35.2%.
- Across the whole market, 1,154 of the 3,633 stocks and funds worth at least $500 million earned more than COF with less volatility over the past 5 years, among them AAPL, GOOG and MSFT.

The 15 strongest of 1,154 investments that beat COF 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 COF | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| COF: Capital One Financial Corporation (this page) |  | +4.9% | 35.2% | 0.31 | −60.3% | +222% |  |  |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.27 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [GOOG](https://easycompare.io/research/goog): Alphabet Inc. | Internet Services | +19.0% | 32.0% | 0.71 | −44.6% | +752% | 0.25 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [MSFT](https://easycompare.io/research/msft): Microsoft Corporation | Software | +12.5% | 28.2% | 0.56 | −37.1% | +946% | 0.19 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | Pharmaceuticals | +40.7% | 32.8% | 1.21 | −34.5% | +1,807% | -0.11 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VTI](https://easycompare.io/research/vti): Vanguard Morningstar Total Stock Market ETF | US Total Market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.56 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VOO](https://easycompare.io/research/voo): Vanguard S&P 500 ETF | US Large-Cap Equity | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.52 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [WMT](https://easycompare.io/research/wmt): Walmart Inc. | Discount Retail | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.13 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.27 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.53 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [COST](https://easycompare.io/research/cost): Costco Wholesale Corporation | Discount Retail | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.26 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [QQQ](https://easycompare.io/research/qqq): Invesco QQQ Trust, Series 1 | US Large-Cap Growth | +14.5% | 23.0% | 0.71 | −35.1% | +553% | 0.41 | 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% | 0.28 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [CSCO](https://easycompare.io/research/csco): Cisco Systems, Inc. | Communications Equipment | +16.8% | 26.1% | 0.73 | −42.0% | +374% | 0.25 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | Pharmaceuticals | +16.3% | 24.8% | 0.74 | −43.4% | +241% | -0.05 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [APH](https://easycompare.io/research/aph): Amphenol Corporation | Electronic Components | +33.8% | 32.2% | 1.07 | −37.5% | +965% | 0.34 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |

## COF against its popular alternatives

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

### How do COF'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.

- Five of the 21 popular alternatives, led by JPM, C and AXP, were both more rewarding and calmer than COF over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, COF returned 4.9% a year, less than the S&P 500's 12.7%, with higher volatility (35.2% against 17.1%).

### Has COF consistently beaten its popular alternatives?

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

- Six of the 21 popular alternatives, led by ENVA, JPM and SYF, outperformed COF in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- ENVA and JPM outperformed COF in every long-term period and in all but one short-term period, the most consistent record in the group.
- JPM, V and C earned more for the risk they took than COF (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of COF | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| COF: Capital One Financial Corporation (this page) | −4.7% | +134% | +27.0% | +222% |  |  | 0.31 |
| ENVA: Enova International, Inc. | +63.9% | +289% | +397% | +1,819% | 4/5 short-term, 3/3 long-term | all-weather | 0.98 |
| [JPM](https://easycompare.io/research/jpm): JPMorgan Chase & Co. | +13.0% | +150% | +122% | +537% | 4/5 short-term, 3/3 long-term | all-weather | 0.78 |
| SYF: Synchrony Financial | +3.2% | +175% | +57.8% | +242% | 3/5 short-term, 3/3 long-term | consistent | 0.43 |
| [MA](https://easycompare.io/research/ma): Mastercard Incorporated | +10.3% | +64.3% | +79.2% | +541% | 5/5 short-term, 2/3 long-term | consistent | 0.61 |
| [V](https://easycompare.io/research/v): Visa Inc. | +19.0% | +78.2% | +82.5% | +429% | 5/5 short-term, 2/3 long-term | consistent | 0.64 |
| BFH: Bread Financial Holdings, Inc. | +76.6% | +284% | +40.5% | −25.3% | 4/5 short-term, 2/3 long-term | consistent | 0.38 |
| [C](https://easycompare.io/research/c): Citigroup Inc. | +26.0% | +238% | +102% | +234% | 2/5 short-term, 3/3 long-term |  | 0.63 |
| [AXP](https://easycompare.io/research/axp): American Express Company | −7.9% | +133% | +88.5% | +446% | 2/5 short-term, 2/3 long-term |  | 0.58 |
| OMF: OneMain Holdings, Inc. | +8.4% | +92.9% | +40.6% | +333% | 2/5 short-term, 2/3 long-term |  | 0.37 |
| FICO: Fair Isaac Corporation | −50.6% | −12.3% | +94.8% | +549% | 0/5 short-term, 2/3 long-term |  | 0.52 |
| SLM: SLM Corporation | −12.7% | +80.4% | +40.0% | +263% | 0/5 short-term, 2/3 long-term |  | 0.37 |
| [BAC](https://easycompare.io/research/bac): Bank of America Corporation | −0.6% | +107% | +21.6% | +282% | 2/5 short-term, 1/3 long-term |  | 0.28 |
| WRLD: World Acceptance Corporation | −6.2% | +49.5% | −20.0% | +232% | 2/5 short-term, 1/3 long-term |  | 0.20 |
| TRU: TransUnion | −1.7% | +22.2% | −30.6% | +149% | 5/5 short-term, 0/3 long-term |  | 0.02 |
| OPRT: Oportun Financial Corporation | +68.5% | +55.1% | −63.4% | — | 5/5 short-term, 0/3 long-term |  | 0.16 |
| CACC: Credit Acceptance Corporation | +8.8% | +29.5% | −13.5% | +193% | 2/5 short-term, 0/3 long-term |  | 0.13 |
| ALLY: Ally Financial Inc. | −3.5% | +73.9% | −19.6% | +159% | 2/5 short-term, 0/3 long-term |  | 0.08 |
| EFX: Equifax Inc. | −22.7% | +2.6% | −31.9% | +49.9% | 2/5 short-term, 0/3 long-term |  | -0.04 |
| NAVI: Navient Corporation | −22.3% | −37.7% | −44.0% | +10.0% | 2/5 short-term, 0/3 long-term |  | -0.14 |
| SOFI: SoFi Technologies, Inc. | −48.8% | +99.2% | −30.3% | — | 0/5 short-term, 0/3 long-term |  | 0.21 |
| UPST: Upstart Holdings, Inc. | −52.9% | −4.2% | −93.4% | — | 0/5 short-term, 0/3 long-term |  | -0.01 |

### How did COF do year by year?

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

- COF finished ahead of the S&P 500 in 15 of its 29 full calendar years, and ahead of it in each of the last three.
- Among its popular alternatives, OMF came out ahead of COF most often, in nine of the 12 years both traded.
- Ranked against its popular alternatives each year, COF finished in the top quarter in five of 29 years and in the bottom quarter in three. In 2025, it ranked 5 of 22.

| Year | COF | SPY |
| --- | --- | --- |
| 2025 | +37.6% | +17.7% |
| 2024 | +38.3% | +24.9% |
| 2023 | +44.3% | +26.2% |
| 2022 | −34.6% | −18.2% |
| 2021 | +49.3% | +28.7% |
| 2020 | −2.7% | +18.3% |
| 2019 | +38.6% | +31.2% |
| 2018 | −22.8% | −4.6% |
| 2017 | +16.3% | +21.7% |
| 2016 | +23.8% | +12.0% |

## Risk and diversification

How COF 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 COF's worst declines?

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

- In all five of COF's worst declines, the S&P 500 held up better over the same dates.
- The slowest recovery came after COF fell 90.2% from March 2006 to March 2009; it did not regain that peak until June 2014, five years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −90.2% | March 10, 2006 | March 6, 2009 | June 9, 2014 | −43.1% | 2008 financial crisis |
| −65.6% | May 22, 2001 | August 5, 2002 | January 22, 2004 | −35.2% | dot-com bust |
| −60.3% | January 22, 2020 | April 3, 2020 | January 6, 2021 | −24.6% | Covid crash |
| −51.7% | July 14, 1998 | October 8, 1998 | January 12, 1999 | −17.7% |  |
| −50.4% | August 13, 2021 | May 4, 2023 | November 6, 2024 | −6.7% | 2022 bear market |

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

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

- COF fell further than the S&P 500 in all ten crashes it has traded through. The clearest case was the 2008 financial crisis, when COF fell 87.7% and the S&P 500 fell 55.2%.
- Among its popular alternatives, V held up best, falling less than COF in all eight crashes they both traded through.

| Crash | Dates | COF fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −65.6% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −87.7% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.1% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −24.2% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −28.5% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −9.6% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −28.2% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −58.8% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −42.6% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −11.1% | −3.4% |

### How closely does COF 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.

- 11 of the 18 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than COF's 0.79, led by ENVA, MA and V.
- V took just 79% of the S&P 500's losses, against 146% for COF, while still keeping 93% of its gains.
- Over the past 10 years, COF captured 115% of the S&P 500's gains in rising months and 146% of its losses in falling months, with a beta of 1.39. It amplified the market's moves in both directions.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| COF: Capital One Financial Corporation (this page) | 115% | 146% | 1.39 |
| ENVA: Enova International, Inc. | 170% | 135% | 1.49 |
| [JPM](https://easycompare.io/research/jpm): JPMorgan Chase & Co. | 117% | 103% | 1.09 |
| SYF: Synchrony Financial | 125% | 163% | 1.56 |
| [MA](https://easycompare.io/research/ma): Mastercard Incorporated | 105% | 88.0% | 0.95 |
| [V](https://easycompare.io/research/v): Visa Inc. | 93.0% | 79.0% | 0.87 |
| BFH: Bread Financial Holdings, Inc. | 102% | 222% | 1.80 |
| [C](https://easycompare.io/research/c): Citigroup Inc. | 131% | 165% | 1.49 |
| [AXP](https://easycompare.io/research/axp): American Express Company | 117% | 113% | 1.16 |
| OMF: OneMain Holdings, Inc. | 136% | 167% | 1.63 |
| FICO: Fair Isaac Corporation | 137% | 159% | 1.31 |
| SLM: SLM Corporation | 98.0% | 108% | 1.18 |
| [BAC](https://easycompare.io/research/bac): Bank of America Corporation | 127% | 146% | 1.36 |
| WRLD: World Acceptance Corporation | 95.0% | 101% | 1.38 |
| TRU: TransUnion | 142% | 228% | 1.47 |
| CACC: Credit Acceptance Corporation | 121% | 169% | 1.32 |
| ALLY: Ally Financial Inc. | 114% | 158% | 1.35 |
| EFX: Equifax Inc. | 103% | 191% | 1.39 |
| NAVI: Navient Corporation | 97.0% | 186% | 1.50 |

### What diversifies COF?

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 COF into GLD would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (+5.4% for COF alone, +8.9% for the mix).
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of COF over the past 5 years, with correlations of 0.40 or lower, and each still earned a positive 5-year return.
- FIX made money in seven of the ten calendar years in which COF lost money.

| Investment | Correlation with COF | 5Y return | Volatility | Sharpe | Rose in COF's 10 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.38 | +119% | 11.1% | 1.48 | 1 of 10 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.23 | +225% | 19.1% | 1.34 | 3 of 10 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.40 | +101% | 14.5% | 1.04 | 1 of 10 |
| EWP: iShares MSCI Spain ETF | 0.42 | +140% | 20.3% | 0.97 | 2 of 10 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.33 | +323% | 36.9% | 0.97 | 3 of 10 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.48 | +85.0% | 13.8% | 0.96 | 2 of 10 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.05 | +126% | 18.9% | 0.96 | 5 of 10 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.36 | +136% | 20.8% | 0.93 | 1 of 10 |

## Common questions

### What was COF's worst drawdown?

COF's deepest decline since it began trading in 1994 was 90.2%, from March 2006 to March 2009. It took about five years from the low to climb back to its old high.

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

Over 29 full calendar years, COF's best year was 1998, when it returned 113%. Its worst was 2002, with a return of -44.8%.

### Is there a better investment than COF?

Among COF's popular alternatives, JPM, V and MA earned more than COF with less volatility over the past 5 years. JPM returned 17.3% a year at 24.3% volatility, against 4.9% a year at 35.2%. Looking beyond its popular alternatives, RY (banks) and TD (banks) earned more than COF with less volatility over the past 5 years. RY returned 17.3% a year at 18.2% volatility, against 4.9% a year at 35.2%.

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

Yes. COF's volatility over the past 5 years was 35.2%, about twice the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, COF's return lands within 35.2% 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 COF's Sharpe ratio?

COF's Sharpe ratio over the past 5 years was 0.31, against 0.79 for the S&P 500, so COF 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 COF with the S&P 500?

Over the past 5 years, COF's monthly returns had a correlation of 0.52 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 COF instead: the lower it is, the more that option would diversify a COF holding.

### What are the best alternatives to COF?

Of the 21 popular alternatives we compared, six outperformed COF in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: ENVA, JPM and SYF.

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

COF finished ahead of the S&P 500 (SPY) in 15 of 29 full calendar years. In 2025, it returned +37.6%, against +17.7% for the index.

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

COF fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in ten. The clearest case was the 2008 financial crisis, when COF fell 87.7% and the S&P 500 fell 55.2%.

### What diversifies COF?

These had a low correlation with COF over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.38), DXJ (correlation 0.23) and EMLP (correlation 0.40); among large stocks, CAH (correlation 0.27), CLS (correlation 0.41) and FIX (correlation 0.19). A correlation near zero means the two have moved largely independently.

## More research

- [JPMorgan Chase & Co. (JPM) Performance, Alternatives and Market Rank](https://easycompare.io/research/jpm)
- [Mastercard (MA) Performance, Alternatives and Market Rank](https://easycompare.io/research/ma)
- [Visa (V) Performance, Alternatives and Market Rank](https://easycompare.io/research/v)
- [Citigroup (C) Performance, Alternatives and Market Rank](https://easycompare.io/research/c)
- [American Express (AXP) Performance, Alternatives and Market Rank](https://easycompare.io/research/axp)
- [Bank of America (BAC) Performance, Alternatives and Market Rank](https://easycompare.io/research/bac)
- [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)

## Explore further

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