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Relative Intelligence · Enterprise Software

How Salesforce (CRM) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on CRM alone. It places CRM (Salesforce, 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 CRM stands in the market, and of the alternatives worth a closer look.

Period covered: CRM's full trading record, from June 2004 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

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

Rank the market against CRM →Chart CRM vs. 24 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in CRM over the past 22 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of CRM over the same span and CRM's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Note: CRM began trading on June 23, 2004, so the chart cannot reach back to the dot-com bust. It covers the most recent 22 years of CRM's record, starting at the end of September 2004.

Choose a period

From the end of September 2004 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. 45 of the 1,487 stocks and funds worth at least $500 million that traded the whole period ended ahead of CRM; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M200420082012201620202024$10,000$100,000$1M2004201020162022
  • MNST$3M+33,033% total · +30.2% a year
  • AMZN$1M+12,113% total · +24.4% a year
  • GOOG$1M+10,548% total · +23.6% a year
  • APH$945,432+9,354% total · +23.0% a year
  • NEU$663,860+6,539% total · +21.0% a year
  • CRM$597,836+5,878% total · +20.4% a year
  • MSFT$302,092+2,921% total · +16.8% a year
  • ORCL$153,352+1,434% total · +13.2% a year
  • SPY (S&P 500)$102,174+922% total · +11.1% a year
  • SAP$74,592+646% total · +9.6% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 2,813 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of CRM; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$5,000$10,000$15,000$20,000$25,000$30,000202120222023202420252026$0$10,000$20,000$30,000202120222023202420252026
  • GOOG$25,811+158% total · +20.9% a year
  • DDOG$19,374+93.7% total · +14.1% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • MSFT$18,958+89.6% total · +13.6% a year
  • SAP$16,715+67.2% total · +10.8% a year
  • AMZN$15,169+51.7% total · +8.7% a year
  • SNOW$11,228+12.3% total · +2.3% a year
  • NOW$10,768+7.7% total · +1.5% a year
  • TWLO$9,166−8.3% total · −1.7% a year
  • CRM$8,626−13.7% total · −2.9% a year
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CRM at a glance

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

Note: CRM began trading on June 23, 2004, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust.

The company

Market value
$200B
Industry
Software - Application
Price history from
June 2004

Returns

Past 1 year
−3.9%total return
Past 3 years
+21.3%+6.6% a year
Past 5 years
−14.8%−3.2% a year
Past 10 years
+240%+13.0% a year
Best calendar year
+130%2009
Worst calendar year
−49.0%2008
Losing years
5 of 21full calendar years

Risk

Volatility
39.4%typical yearly swing, 5 years
Sharpe ratio
0.12return per unit of risk, 5 years
Worst decline ever
−70.5%Jun 2008 to Nov 2008
From its all-time high
−33.1%below the peak

CRM against the whole market

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

How does CRM rank among all stocks?

This section ranks CRM 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 CRM 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.

MeasureCRMRankStanding
1-year return−3.9%2,143 of 3,287bottom 36%
3-year return+21.3%1,999 of 3,017bottom 35%
5-year return−14.8%1,943 of 2,893bottom 34%
10-year return+240%740 of 2,202top 34%
Volatility, 5 years39.4%1,428 of 2,893top 49%
Sharpe ratio, 5 years0.122,075 of 2,893bottom 29%
Worst decline, past 10 years−58.7%829 of 2,187top 38%

What has beaten CRM 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). CRM sits where the dashed lines cross. Anything in the green box above and to the left earned more than CRM 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 CRM; faint dots are 86 more of the 1,964 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.

−10.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than CRMEXPD: +12.0% a year, volatility 27.1%NHC: +32.0% a year, volatility 28.5%CHE: +3.4% a year, volatility 25.3%TRV: +22.4% a year, volatility 22.3%ADP: +9.0% a year, volatility 22.9%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%ELV: +2.2% a year, volatility 29.4%WAT: +4.5% a year, volatility 33.9%COST: +17.4% a year, volatility 22.9%QQQ: +14.5% a year, volatility 23.0%CSCO: +16.8% a year, volatility 26.1%HPQ: +5.7% a year, volatility 37.3%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%APH: +33.8% a year, volatility 32.2%SEIC: +12.7% a year, volatility 22.3%AMGN: +19.6% a year, volatility 24.9%NEU: +21.0% a year, volatility 26.8%VCTR: +28.1% a year, volatility 35.0%SGOV: +3.8% a year, volatility 0.3%LIN: +11.5% a year, volatility 20.9%VGT: +18.4% a year, volatility 26.0%SJM: +4.8% a year, volatility 25.1%PGR: +21.3% a year, volatility 25.6%MSM: +13.3% a year, volatility 25.1%AZN: +8.7% a year, volatility 35.7%VIG: +10.4% a year, volatility 14.1%TMO: +2.9% a year, volatility 27.8%SCHD: +9.7% a year, volatility 14.3%SAIC: +9.9% a year, volatility 30.7%MNST: +17.2% a year, volatility 24.9%SXT: +9.3% a year, volatility 30.3%TMUS: +6.4% a year, volatility 26.1%RSG: +13.9% a year, volatility 18.5%RY: +17.3% a year, volatility 18.2%ORLY: +15.9% a year, volatility 23.4%MSI: +14.8% a year, volatility 23.6%HACK: +12.6% a year, volatility 25.8%WM: +9.3% a year, volatility 19.2%ESLT: +39.8% a year, volatility 34.6%JAAA: +5.1% a year, volatility 1.7%FAST: +15.8% a year, volatility 24.6%SCHG: +13.1% a year, volatility 22.4%CNXN: +15.8% a year, volatility 29.2%SKYY: +7.5% a year, volatility 31.4%ICE: +5.4% a year, volatility 21.8%QUAL: +11.4% a year, volatility 17.3%IRM: +24.6% a year, volatility 30.3%CASY: +29.9% a year, volatility 29.3%SHW: +3.1% a year, volatility 27.1%AAPL: +18.5% a year, volatility 28.0%FNV: +12.5% a year, volatility 31.3%BUG: +7.1% a year, volatility 30.4%SAFT: +10.6% a year, volatility 28.5%WCN: +6.1% a year, volatility 20.0%SPHQ: +12.0% a year, volatility 16.7%IHF: +3.1% a year, volatility 19.3%VRSN: +7.8% a year, volatility 25.9%EWT: +20.4% a year, volatility 24.2%MTD: +2.6% a year, volatility 32.5%MTUM: +10.9% a year, volatility 22.1%HSTM: +3.9% a year, volatility 29.4%MUSA: +26.1% a year, volatility 31.2%IOO: +15.7% a year, volatility 17.2%CRVL: +7.0% a year, volatility 33.2%FCFS: +20.6% a year, volatility 30.5%VLO: +44.2% a year, volatility 36.9%MOAT: +9.1% a year, volatility 18.4%ESE: +24.2% a year, volatility 31.1%PSX: +33.2% a year, volatility 32.9%CDNS: +14.8% a year, volatility 37.2%JPM: +17.3% a year, volatility 24.3%SCI: +7.5% a year, volatility 25.2%RSPT: +16.9% a year, volatility 25.1%GGG: +3.5% a year, volatility 22.9%NYT: +6.2% a year, volatility 30.6%USLM: +35.6% a year, volatility 36.1%TDIV: +16.2% a year, volatility 21.3%JNJ: +12.7% a year, volatility 17.9%STN: +7.5% a year, volatility 25.7%GATX: +12.4% a year, volatility 25.1%LVHI: +17.0% a year, volatility 11.1%CSW: +17.1% a year, volatility 34.4%KO: +14.7% a year, volatility 16.8%BALT: +6.3% a year, volatility 3.3%CRM: −3.2% a year, volatility 39.4%SPY (S&P 500): +12.7% a year, volatility 17.1%GOOG: +19.0% a year, volatility 32.0%MSFT: +12.5% a year, volatility 28.2%SAP: +11.5% a year, volatility 30.0%AMZN: +9.0% a year, volatility 36.6%DDOG: +10.1% a year, volatility 59.7%ORCL: +7.7% a year, volatility 44.3%CIBR: +14.1% a year, volatility 26.1%EXLS: +10.6% a year, volatility 32.6%ADI: +19.5% a year, volatility 34.1%TXN: +9.9% a year, volatility 33.7%ASX: +48.8% a year, volatility 43.0%ROP: −2.8% a year, volatility 22.7%LLY: +40.7% a year, volatility 32.8%ABBV: +26.1% a year, volatility 23.4%A: +2.6% a year, volatility 30.6%KDP: +2.5% a year, volatility 22.1%VOO: +12.8% a year, volatility 16.9%DXJ: +26.6% a year, volatility 19.1%HALO: +26.6% a year, volatility 40.4%DHR: −3.8% a year, volatility 29.1%MPC: +51.2% a year, volatility 33.4%CAH: +42.1% a year, volatility 24.7%CRMSPY (S&P 500)GOOGMSFTAMZNDDOGORCLEXLSASXROPLLYABBVAKDPVOODXJHALODHRMPCCAH−20.0%0.0%20.0%40.0%60.0%80.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than CRMEXPD: +12.0% a year, volatility 27.1%NHC: +32.0% a year, volatility 28.5%CHE: +3.4% a year, volatility 25.3%TRV: +22.4% a year, volatility 22.3%ADP: +9.0% a year, volatility 22.9%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%ELV: +2.2% a year, volatility 29.4%WAT: +4.5% a year, volatility 33.9%COST: +17.4% a year, volatility 22.9%QQQ: +14.5% a year, volatility 23.0%CSCO: +16.8% a year, volatility 26.1%HPQ: +5.7% a year, volatility 37.3%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%APH: +33.8% a year, volatility 32.2%SEIC: +12.7% a year, volatility 22.3%AMGN: +19.6% a year, volatility 24.9%NEU: +21.0% a year, volatility 26.8%VCTR: +28.1% a year, volatility 35.0%SGOV: +3.8% a year, volatility 0.3%LIN: +11.5% a year, volatility 20.9%VGT: +18.4% a year, volatility 26.0%SJM: +4.8% a year, volatility 25.1%PGR: +21.3% a year, volatility 25.6%MSM: +13.3% a year, volatility 25.1%AZN: +8.7% a year, volatility 35.7%VIG: +10.4% a year, volatility 14.1%TMO: +2.9% a year, volatility 27.8%SCHD: +9.7% a year, volatility 14.3%SAIC: +9.9% a year, volatility 30.7%MNST: +17.2% a year, volatility 24.9%SXT: +9.3% a year, volatility 30.3%TMUS: +6.4% a year, volatility 26.1%RSG: +13.9% a year, volatility 18.5%RY: +17.3% a year, volatility 18.2%ORLY: +15.9% a year, volatility 23.4%MSI: +14.8% a year, volatility 23.6%HACK: +12.6% a year, volatility 25.8%WM: +9.3% a year, volatility 19.2%ESLT: +39.8% a year, volatility 34.6%JAAA: +5.1% a year, volatility 1.7%FAST: +15.8% a year, volatility 24.6%SCHG: +13.1% a year, volatility 22.4%CNXN: +15.8% a year, volatility 29.2%SKYY: +7.5% a year, volatility 31.4%ICE: +5.4% a year, volatility 21.8%QUAL: +11.4% a year, volatility 17.3%IRM: +24.6% a year, volatility 30.3%CASY: +29.9% a year, volatility 29.3%SHW: +3.1% a year, volatility 27.1%AAPL: +18.5% a year, volatility 28.0%FNV: +12.5% a year, volatility 31.3%BUG: +7.1% a year, volatility 30.4%SAFT: +10.6% a year, volatility 28.5%WCN: +6.1% a year, volatility 20.0%SPHQ: +12.0% a year, volatility 16.7%IHF: +3.1% a year, volatility 19.3%VRSN: +7.8% a year, volatility 25.9%EWT: +20.4% a year, volatility 24.2%MTD: +2.6% a year, volatility 32.5%MTUM: +10.9% a year, volatility 22.1%HSTM: +3.9% a year, volatility 29.4%MUSA: +26.1% a year, volatility 31.2%IOO: +15.7% a year, volatility 17.2%CRVL: +7.0% a year, volatility 33.2%FCFS: +20.6% a year, volatility 30.5%VLO: +44.2% a year, volatility 36.9%MOAT: +9.1% a year, volatility 18.4%ESE: +24.2% a year, volatility 31.1%PSX: +33.2% a year, volatility 32.9%CDNS: +14.8% a year, volatility 37.2%JPM: +17.3% a year, volatility 24.3%SCI: +7.5% a year, volatility 25.2%RSPT: +16.9% a year, volatility 25.1%GGG: +3.5% a year, volatility 22.9%NYT: +6.2% a year, volatility 30.6%USLM: +35.6% a year, volatility 36.1%TDIV: +16.2% a year, volatility 21.3%JNJ: +12.7% a year, volatility 17.9%STN: +7.5% a year, volatility 25.7%GATX: +12.4% a year, volatility 25.1%LVHI: +17.0% a year, volatility 11.1%CSW: +17.1% a year, volatility 34.4%KO: +14.7% a year, volatility 16.8%BALT: +6.3% a year, volatility 3.3%CRM: −3.2% a year, volatility 39.4%SPY (S&P 500): +12.7% a year, volatility 17.1%GOOG: +19.0% a year, volatility 32.0%MSFT: +12.5% a year, volatility 28.2%SAP: +11.5% a year, volatility 30.0%AMZN: +9.0% a year, volatility 36.6%DDOG: +10.1% a year, volatility 59.7%ORCL: +7.7% a year, volatility 44.3%CIBR: +14.1% a year, volatility 26.1%EXLS: +10.6% a year, volatility 32.6%ADI: +19.5% a year, volatility 34.1%TXN: +9.9% a year, volatility 33.7%ASX: +48.8% a year, volatility 43.0%ROP: −2.8% a year, volatility 22.7%LLY: +40.7% a year, volatility 32.8%ABBV: +26.1% a year, volatility 23.4%A: +2.6% a year, volatility 30.6%KDP: +2.5% a year, volatility 22.1%VOO: +12.8% a year, volatility 16.9%DXJ: +26.6% a year, volatility 19.1%HALO: +26.6% a year, volatility 40.4%DHR: −3.8% a year, volatility 29.1%MPC: +51.2% a year, volatility 33.4%CAH: +42.1% a year, volatility 24.7%CRMSPY (S&P 500)GOOGAMZNDDOGADIASXROPLLYABBVAKDPVOODXJHALOMPCCAH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than CRM?

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

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

Screen the whole market against CRM 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 CRM?lower diversifies moreExpenseper year
CRMSalesforce, Inc. · this page
−3.2%39.4%0.12−58.7%+240%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.480.09%
Popular alternativesbest 6 shownThe investments people most often weigh against CRM. 9 of 23 passed at least one test.
GOOGAlphabet Inc. · Internet Services
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+19.0%32.0%0.71−44.6%+752%0.27—
MSFTMicrosoft Corporation · Software
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+12.5%28.2%0.56−37.1%+946%0.60—
SAPSAP SE · Enterprise Software
Higher return, lower volatilityHigher Sharpe, smaller worst decline+11.5%30.0%0.52−52.5%+205%0.71—
AMZNAmazon.com, Inc. · E-Commerce
Higher return, lower volatility+9.0%36.6%0.42−56.1%+548%0.51—
DDOGDatadog, Inc. · Application Software
Higher return in most periods+10.1%59.7%0.45−68.1%—0.31—
ORCLOracle Corporation · Enterprise Software
Smaller losses in recent crashes+7.7%44.3%0.38−64.6%+300%0.48—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Enterprise Software and Software and the categories next to it (Application Software, IT Services, Cybersecurity, Payment Processing, Semiconductors), plus CRM's specific themes. 55 of 127 passed at least one test.
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+14.1%26.1%0.64−33.9%+454%0.510.58%
EXLSExlService Holdings, Inc. · IT Services
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+10.6%32.6%0.47−51.3%+327%0.42—
ADIAnalog Devices, Inc. · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+19.5%34.1%0.69−33.6%+652%0.02—
TXNTexas Instruments Incorporated · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+9.9%33.7%0.45−33.4%+424%0.03—
ASXASE Technology Holding Co., Ltd. · Semiconductors
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+48.8%43.0%1.15−52.5%+967%0.10—
ROPRoper Technologies, Inc. · Application Software
Similar return, lower volatility−2.8%22.7%-0.01−46.5%+145%0.43—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 2,257 of 3,483 passed at least one test.
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%0.06—
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%-0.08—
AAgilent Technologies, Inc. · Life Sciences Tools
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+2.6%30.6%0.24−43.2%+306%0.38—
KDPKeurig Dr Pepper Inc. · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+2.5%22.1%0.23−36.9%+281%0.06—
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+12.8%16.9%0.80−34.0%+324%0.470.03%
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+26.6%19.1%1.34−39.1%+428%0.200.48%
HALOHalozyme Therapeutics, Inc. · Biotechnology
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+26.6%40.4%0.79−49.1%+1,196%0.05—
DHRDanaher Corporation · Life Sciences Tools
Similar return, lower volatility−3.8%29.1%0.01−43.8%+232%0.40—
What these numbers mean for CRM
Annual return
CRM lost 3.2% 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 $8,520. 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
CRM's volatility over the past 5 years was 39.4%, 2.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, CRM's return lands within 39.4% 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
CRM's Sharpe ratio over the past 5 years was 0.12, against 0.79 for the S&P 500, so CRM 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
CRM's worst fall from a peak to a low over the past 10 years was 58.7%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 58.7% fall takes a 142% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, CRM's monthly returns had a correlation of 0.48 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 CRM instead: the lower it is, the more that option would diversify a CRM holding. Guide: Correlation and diversification →
Show all 1,964 stocks and funds worth at least $500 million that earned more than CRM with less volatility

Out of 3,633 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with CRMExpense
1
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.06—
2
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%-0.08—
3
AAgilent Technologies, Inc. · Life Sciences Tools
Whole market+2.6%30.6%0.24−43.2%+306%0.38—
4
KDPKeurig Dr Pepper Inc. · Food & Beverages
Whole market+2.5%22.1%0.23−36.9%+281%0.06—
5
EXPDExpeditors International of Washington, Inc. · Freight & Logistics
Whole market+12.0%27.1%0.56−35.6%+349%0.25—
6
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.00—
7
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Same or nearby category+14.1%26.1%0.64−33.9%+454%0.510.58%
8
CHEChemed Corporation · Health Care Services
Whole market+3.4%25.3%0.26−42.9%+273%0.07—
9
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.01—
10
ADPAutomatic Data Processing, Inc. · Business Services
Whole market+9.0%22.9%0.49−40.8%+320%0.35—
11
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.470.03%
12
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.02—
13
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.11—
14
ELVElevance Health Inc. · Managed Health Care
Whole market+2.2%29.4%0.23−50.4%+307%0.06—
15
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.200.48%
16
WATWaters Corporation · Life Sciences Tools
Whole market+4.5%33.9%0.30−44.3%+182%0.30—
17
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.29—
18
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.5%23.0%0.71−35.1%+553%0.510.18%
19
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.20—
20
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%0.08—
21
HPQHP Inc. · Computer Hardware
Whole market+5.7%37.3%0.33−51.2%+207%0.36—
22
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.02—
23
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%0.08—
24
APHAmphenol Corporation · Electronic Components
Whole market+33.8%32.2%1.07−37.5%+965%0.10—
25
SEICSEI Investments Company · Asset Management
Whole market+12.7%22.3%0.65−51.8%+168%0.39—
26
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%-0.01—
27
NEUNewMarket Corporation · Specialty Chemicals
Whole market+21.0%26.8%0.85−40.7%+165%0.25—
28
VCTRVictory Capital Holdings, Inc. · Asset Management
Whole market+28.1%35.0%0.89−45.2%—0.34—
29
SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds
Whole market+3.8%0.3%13.25−0.3%—0.220.09%
30
LINLinde plc · Chemicals
Whole market+11.5%20.9%0.63−32.6%+394%0.10—
31
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.520.09%
32
SJMThe J. M. Smucker Company · Packaged Foods
Whole market+4.8%25.1%0.32−38.1%+37.2%0.05—
33
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%-0.09—
34
MSMMSC Industrial Direct Co., Inc. · Industrial Distribution
Whole market+13.3%25.1%0.63−48.2%+184%0.07—
35
AZNAstraZeneca PLC · Pharmaceuticals
Whole market+8.7%35.7%0.41−28.7%+257%-0.14—
36
VIGVanguard Dividend Appreciation ETF · US Dividend Equity
Whole market+10.4%14.1%0.78−31.7%+258%0.350.04%
37
TMOThermo Fisher Scientific Inc. · Life Sciences Tools
Whole market+2.9%27.8%0.24−40.9%+366%0.37—
38
SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity
Whole market+9.7%14.3%0.72−33.4%+252%0.240.06%
39
SAICScience Applications International Corporation · Business Services
Whole market+9.9%30.7%0.46−45.9%+135%0.25—
40
MNSTMonster Beverage Corporation · Food & Beverages
Whole market+17.2%24.9%0.77−30.4%+285%0.07—
41
SXTSensient Technologies Corporation · Specialty Chemicals
Whole market+9.3%30.3%0.44−50.6%+133%0.11—
42
TMUST-Mobile US, Inc. · Telecommunications
Whole market+6.4%26.1%0.37−44.0%+253%0.18—
43
RSGRepublic Services, Inc. · Environmental Services
Whole market+13.9%18.5%0.80−34.0%+446%0.13—
44
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.13—
45
ORLYO'Reilly Automotive, Inc. · Specialty Retail
Whole market+15.9%23.4%0.75−42.0%+393%0.00—
46
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+14.8%23.6%0.71−32.8%+625%0.36—
47
HACKAmplify Cybersecurity ETF · Technology
Whole market+12.6%25.8%0.59−38.7%+373%0.550.60%
48
WMWaste Management, Inc. · Environmental Services
Whole market+9.3%19.2%0.56−30.1%+344%0.04—
49
ESLTElbit Systems Ltd. · Aerospace & Defense
Whole market+39.8%34.6%1.15−35.4%+765%0.06—
50
JAAAJanus Henderson AAA CLO ETF · CLO Bonds
Whole market+5.1%1.7%2.98−2.6%—0.180.20%
51
FASTFastenal Company · Industrial Distribution
Whole market+15.8%24.6%0.72−30.7%+576%0.19—
52
SCHGSchwab U.S. Large-Cap Growth ETF · US Large-Cap Growth
Whole market+13.1%22.4%0.67−34.5%+451%0.610.04%
53
CNXNPC Connection, Inc. · Technology Distributors
Whole market+15.8%29.2%0.65−41.8%+277%0.28—
54
SKYYFirst Trust Cloud Computing ETF · Technology
Whole market+7.5%31.4%0.39−53.2%+396%0.750.60%
55
ICEIntercontinental Exchange, Inc. · Capital Markets
Whole market+5.4%21.8%0.35−34.3%+240%0.37—
56
QUALiShares MSCI USA Quality Factor ETF · US Quality Equity
Whole market+11.4%17.3%0.71−34.1%+293%0.450.15%
57
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.02—
58
EXLSExlService Holdings, Inc. · IT Services
Same or nearby category+10.6%32.6%0.47−51.3%+327%0.42—
59
IRMIron Mountain Incorporated · Specialty REITs
Whole market+24.6%30.3%0.88−39.0%+470%0.10—
60
CASYCasey's General Stores, Inc. · Convenience Stores
Whole market+29.9%29.3%1.04−36.1%+537%-0.04—
61
SHWThe Sherwin-Williams Company · Specialty Chemicals
Whole market+3.1%27.1%0.25−42.5%+300%0.14—
62
AAPLApple Inc. · Computer Hardware
Whole market+18.5%28.0%0.75−38.5%+1,168%0.44—
63
FNVFranco-Nevada Corporation · Gold Mining
Whole market+12.5%31.3%0.53−37.1%+303%0.13—
64
BUGGlobal X - Cybersecurity ETF · Technology
Whole market+7.1%30.4%0.38−41.7%—0.500.50%
65
SAFTSafety Insurance Group, Inc. · Insurance - Property & Casualty
Whole market+10.6%28.5%0.49−32.8%+138%0.10—
66
WCNWaste Connections, Inc. · Environmental Services
Whole market+6.1%20.0%0.40−31.6%+270%0.14—
67
SPHQInvesco S&P 500 Quality ETF · US Quality Equity
Whole market+12.0%16.7%0.76−31.6%+300%0.300.20%
68
GOOGAlphabet Inc. · Internet Services
Popular alternative+19.0%32.0%0.71−44.6%+752%0.27—
69
IHFiShares U.S. Healthcare Providers ETF · Broad Market
Whole market+3.1%19.3%0.26−35.2%+171%0.100.37%
70
VRSNVeriSign, Inc. · Internet Services
Whole market+7.8%25.9%0.42−38.9%+308%0.30—
71
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+20.4%24.2%0.89−38.9%+468%0.220.59%
72
MTDMettler-Toledo International Inc. · Life Sciences Tools
Whole market+2.6%32.5%0.24−43.5%+298%0.23—
73
MSFTMicrosoft Corporation · Software
Popular alternative+12.5%28.2%0.56−37.1%+946%0.60—
74
MTUMiShares MSCI USA Momentum Factor ETF · US Momentum Equity
Whole market+10.9%22.1%0.58−34.1%+336%0.200.15%
75
HSTMHealthStream, Inc. · Medical - Healthcare Information Services
Whole market+3.9%29.4%0.28−42.7%+32.0%0.12—
76
MUSAMurphy USA Inc. · Convenience Stores
Whole market+26.1%31.2%0.90−35.5%+706%-0.10—
77
ADIAnalog Devices, Inc. · Semiconductors
Same or nearby category+19.5%34.1%0.69−33.6%+652%0.02—
78
IOOiShares Global 100 ETF · Global Equity
Whole market+15.7%17.2%0.94−31.4%+361%0.460.40%
79
CRVLCorVel Corporation · Insurance
Whole market+7.0%33.2%0.37−64.2%+594%0.44—
80
TXNTexas Instruments Incorporated · Semiconductors
Same or nearby category+9.9%33.7%0.45−33.4%+424%0.03—
81
FCFSFirstCash Holdings, Inc · Consumer Finance
Whole market+20.6%30.5%0.77−50.2%+422%0.04—
82
VLOValero Energy Corporation · Oil & Gas
Whole market+44.2%36.9%1.18−71.9%+1,061%0.04—
83
MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity
Whole market+9.1%18.4%0.57−33.3%+276%0.550.46%
84
ESEESCO Technologies Inc. · Electronic Instruments
Whole market+24.2%31.1%0.85−46.0%+473%-0.09—
85
PSXPhillips 66 · Oil & Gas
Whole market+33.2%32.9%1.04−64.2%+430%0.17—
86
CDNSCadence Design Systems, Inc. · Software
Same or nearby category+14.8%37.2%0.56−34.2%+1,139%0.38—
87
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+537%0.27—
88
SCIService Corporation International · Death Care
Whole market+7.5%25.2%0.41−34.0%+272%0.29—
89
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.9%25.1%0.75−33.7%+572%0.470.40%
90
GGGGraco Inc. · Industrial Machinery
Whole market+3.5%22.9%0.26−30.6%+263%0.26—
91
NYTThe New York Times Company · Media
Whole market+6.2%30.6%0.35−49.9%+559%0.14—
92
USLMUnited States Lime & Minerals, Inc. · Construction Materials
Whole market+35.6%36.1%1.03−45.9%+803%0.26—
93
TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity
Whole market+16.2%21.3%0.81−32.0%+388%0.430.50%
94
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%-0.16—
95
STNStantec Inc. · Engineering & Construction
Whole market+7.5%25.7%0.41−40.9%+240%0.39—
96
GATXGATX Corporation · Equipment Rental
Whole market+12.4%25.1%0.59−38.3%+329%0.16—
97
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.120.40%
98
CSWCSW Industrials, Inc. · Industrial Products
Whole market+17.1%34.4%0.63−46.2%+867%0.32—
99
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%-0.06—
100
BALTInnovator Defined Wealth Shield ETF · Crypto
Whole market+6.3%3.3%1.85−4.9%—0.470.69%

CRM against its popular alternatives

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

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

Green points earned more than CRM with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%−40.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityCRM: −3.2% a year, volatility 39.4%SPY (S&P 500): 12.7% a year, volatility 17.1%MSFT: 12.5% a year, volatility 28.2%TWLO: −6.7% a year, volatility 61.1%SAP: 11.5% a year, volatility 30.0%GOOG: 19.0% a year, volatility 32.0%AMZN: 9.0% a year, volatility 36.6%TEAM: −11.6% a year, volatility 63.9%DOCU: −21.6% a year, volatility 58.8%ZM: −18.8% a year, volatility 44.3%HUBS: −20.6% a year, volatility 57.6%PEGA: −10.9% a year, volatility 53.0%SPT: −36.9% a year, volatility 68.5%FIVN: −26.4% a year, volatility 57.9%WDAY: −5.9% a year, volatility 41.7%ASAN: −39.3% a year, volatility 79.3%MNDY: −22.8% a year, volatility 71.0%NICE: −16.1% a year, volatility 41.4%NOW: 1.9% a year, volatility 45.5%DDOG: 10.1% a year, volatility 59.7%SNOW: −0.9% a year, volatility 62.6%ORCL: 7.7% a year, volatility 44.3%ACN: −5.2% a year, volatility 32.7%INTU: −9.4% a year, volatility 39.1%ADBE: −16.5% a year, volatility 38.1%CRMSPY (S&P 500)MSFTTWLOGOOGAMZNTEAMDOCUZMHUBSPEGASPTFIVNWDAYASANMNDYNICENOWDDOGSNOWORCLACNINTUADBE0.0%20.0%40.0%60.0%80.0%−40.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityCRM: −3.2% a year, volatility 39.4%SPY (S&P 500): 12.7% a year, volatility 17.1%MSFT: 12.5% a year, volatility 28.2%TWLO: −6.7% a year, volatility 61.1%SAP: 11.5% a year, volatility 30.0%GOOG: 19.0% a year, volatility 32.0%AMZN: 9.0% a year, volatility 36.6%TEAM: −11.6% a year, volatility 63.9%DOCU: −21.6% a year, volatility 58.8%ZM: −18.8% a year, volatility 44.3%HUBS: −20.6% a year, volatility 57.6%PEGA: −10.9% a year, volatility 53.0%SPT: −36.9% a year, volatility 68.5%FIVN: −26.4% a year, volatility 57.9%WDAY: −5.9% a year, volatility 41.7%ASAN: −39.3% a year, volatility 79.3%MNDY: −22.8% a year, volatility 71.0%NICE: −16.1% a year, volatility 41.4%NOW: 1.9% a year, volatility 45.5%DDOG: 10.1% a year, volatility 59.7%SNOW: −0.9% a year, volatility 62.6%ORCL: 7.7% a year, volatility 44.3%ACN: −5.2% a year, volatility 32.7%INTU: −9.4% a year, volatility 39.1%ADBE: −16.5% a year, volatility 38.1%CRMSPY (S&P 500)TWLOGOOGAMZNTEAMDOCUZMPEGASPTFIVNWDAYNICENOWDDOGSNOWORCLACNINTUADBE
All figures
InvestmentAnnual returnVolatility
GOOG Alphabet Inc.+19.0%32.0%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
MSFT Microsoft Corporation+12.5%28.2%
SAP SAP SE+11.5%30.0%
DDOG Datadog, Inc.+10.1%59.7%
AMZN Amazon.com, Inc.+9.0%36.6%
ORCL Oracle Corporation+7.7%44.3%
NOW ServiceNow, Inc.+1.9%45.5%
SNOW Snowflake Inc.−0.9%62.6%
CRM This pageSalesforce, Inc.−3.2%39.4%
ACN Accenture plc−5.2%32.7%
WDAY Workday, Inc.−5.9%41.7%
TWLO Twilio Inc.−6.7%61.1%
INTU Intuit Inc.−9.4%39.1%
PEGA Pegasystems Inc.−10.9%53.0%
TEAM Atlassian Corporation−11.6%63.9%
NICE NICE Ltd.−16.1%41.4%
ADBE Adobe Inc.−16.5%38.1%
ZM Zoom Communications, Inc.−18.8%44.3%
HUBS HubSpot, Inc.−20.6%57.6%
DOCU DocuSign, Inc.−21.6%58.8%
MNDY monday.com Ltd.−22.8%71.0%
FIVN Five9, Inc.−26.4%57.9%
SPT Sprout Social, Inc.−36.9%68.5%
ASAN Asana, Inc.−39.3%79.3%
Open these 25 in EasyCompare

Has CRM consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than CRM 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
CRM Salesforce, Inc. (this page)—+2.5%+39.7%+30.7%−3.8%−3.9%+21.3%−14.8%+240%39.4%0.12−58.7%—$200B—
NOW QualifiedServiceNow, Inc.4/5 short3/3 longAll-weather+8.6%+42.8%+50.0%+1.4%−18.5%+37.8%+9.8%+848%45.5%0.27−64.5%—$155B—
MSFT QualifiedMicrosoft Corporation3/5 short3/3 long+6.0%+32.5%+27.7%+13.2%+3.8%+66.6%+80.3%+946%28.2%0.56−37.1%—$3.9T—
DDOG QualifiedDatadog, Inc.4/5 short2/3 long+4.6%−2.6%+97.6%+91.7%+64.1%+198%+61.4%—59.7%0.45−68.1%—$92B—
TWLO QualifiedTwilio Inc.3/5 short2/3 long−2.8%+26.0%+77.6%+87.0%+137%+385%−29.4%+486%61.1%0.19−90.4%—$40B—
SAP QualifiedSAP SE3/5 short2/3 long+9.4%+44.6%+29.6%−2.1%−16.6%+81.3%+72.6%+205%30.0%0.52−52.5%—$267B—
SNOW QualifiedSnowflake Inc.3/5 short2/3 long−5.8%+16.5%+112%+47.5%+30.1%+116%−4.3%—62.6%0.29−73.0%—$113B—
GOOG Internet Content & InformationAlphabet Inc.2/5 short3/3 long−4.1%−4.2%+0.4%+6.9%+31.2%+148%+138%+752%32.0%0.71−44.6%—$4.1T—
AMZN Specialty RetailAmazon.com, Inc.2/5 short3/3 long+1.6%+5.1%+5.8%+16.0%+21.3%+110%+53.8%+548%36.6%0.42−56.1%—$2.8T—
ORCL Software - InfrastructureOracle Corporation0/5 short3/3 long−11.4%+8.4%−25.6%−32.1%−52.1%+33.3%+45.1%+300%44.3%0.38−64.6%—$396B—
TEAM Software - ApplicationAtlassian Corporation5/5 short1/3 long+13.0%+129%+209%+42.9%+39.2%+18.2%−46.0%+670%63.9%0.12−87.5%—$56B—
DOCU Software - ApplicationDocuSign, Inc.5/5 short1/3 long+17.1%+53.5%+68.3%+23.8%+13.6%+99.4%−70.4%—58.8%-0.11−87.6%—$15B—
ZM Software - ApplicationZoom Communications, Inc.3/5 short1/3 long+7.2%+7.2%+7.6%+17.0%+19.0%+57.9%−64.7%—44.3%-0.25−90.3%—$28B—
HUBS Software - ApplicationHubSpot, Inc.1/5 short1/3 long+17.2%+8.4%+9.1%−34.4%−44.5%−41.6%−68.5%+377%57.6%-0.11−80.0%—$13B—
PEGA Software - ApplicationPegasystems Inc.1/5 short1/3 long+3.7%+14.7%−16.9%−35.0%−33.5%+85.1%−43.7%+140%53.0%0.04−79.2%—$6.0B—
BRZE Software - ApplicationBraze, Inc.5/5 short0/3 long+79.4%+74.0%+92.0%+40.0%+65.6%+4.1%————−83.2%—$5.2B—
SPT Software - ApplicationSprout Social, Inc.5/5 short0/3 long+21.4%+49.1%+117%+21.2%+16.1%−72.2%−90.0%—68.5%-0.32−96.5%—$760M—
ACN Information Technology ServicesAccenture plc3/5 short0/3 long+29.5%+66.5%+25.1%−4.8%+2.2%−13.6%−23.6%+146%32.7%0.00−67.8%—$146B—
FIVN Software - ApplicationFive9, Inc.3/5 short0/3 long−7.3%+33.5%+111%+82.4%+53.0%−42.9%−78.4%+141%57.9%-0.24−93.5%—$2.6B—
WDAY Software - ApplicationWorkday, Inc.3/5 short0/3 long+6.3%+38.6%+59.4%−0.9%−15.4%−3.4%−26.4%+132%41.7%0.06−63.4%—$49B—
ASAN Software - ApplicationAsana, Inc.3/5 short0/3 long+12.6%+41.3%+70.7%−17.1%−26.5%−41.5%−91.7%—79.3%-0.24−96.2%—$2.5B—
MNDY Software - Applicationmonday.com Ltd.2/5 short0/3 long+14.7%+31.4%+47.4%−29.7%−45.8%−23.6%−72.6%—71.0%-0.01−86.8%—$4.3B—
INTU Software - ApplicationIntuit Inc.1/5 short0/3 long+10.8%+14.6%−16.4%−46.0%−48.9%−32.1%−38.8%+237%39.1%-0.06−68.2%—$90B—
NICE Software - ApplicationNICE Ltd.1/5 short0/3 long0.0%+13.0%+8.5%+2.3%−13.4%−26.8%−58.5%+71.8%41.4%-0.22−73.6%—$6.7B—
ADBE Software - ApplicationAdobe Inc.0/5 short0/3 long+2.9%+9.4%+3.3%−23.0%−25.2%−52.5%−59.4%+135%38.1%-0.28−71.9%—$100B—
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How did CRM do year by year?

This table shows each investment's total return in every full calendar year since 2005, along with where CRM ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with CRM and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: CRM began trading on June 23, 2004, so the table starts with 2005, its first full calendar year, and cannot show how it fared during the dot-com bust.

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

InvestmentYears ahead of CRM202520242023202220212020201920182017201620152014201320122011201020092008200720062005
CRM This pageSalesforce, Inc.—−20.2%+27.8%+98.5%−47.8%+14.2%+36.8%+18.7%+34.0%+49.3%−12.7%+32.2%+7.5%+31.3%+65.8%−23.2%+79.0%+130%−49.0%+72.0%+13.7%+88.9%
Rank among alternativesTop quarter in 6 of 2114 of 259 of 252 of 2512 of 2513 of 2317 of 2116 of 187 of 178 of 1712 of 166 of 158 of 138 of 131 of 1111 of 111 of 113 of 119 of 112 of 118 of 112 of 11
SPY S&P 500State Street SPDR S&P 500 ETF10 of 21+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%
NOW ServiceNow, Inc.9 of 13−27.8%+50.0%+82.0%−40.2%+17.9%+95.0%+58.6%+36.5%+75.4%−14.1%+27.6%+21.2%+86.4%————————
MSFT Microsoft Corporation11 of 21+15.6%+12.9%+58.2%−28.0%+52.5%+42.5%+57.6%+20.8%+40.8%+15.1%+22.7%+27.5%+44.3%+5.8%−4.5%−6.5%+60.5%−44.4%+20.8%+15.8%−1.0%
DDOG Datadog, Inc.3 of 6−4.8%+17.7%+65.1%−58.7%+80.9%+161%———————————————
TWLO Twilio Inc.4 of 9+31.6%+42.4%+55.0%−81.4%−22.2%+244%+10.1%+278%−18.2%————————————
SAP SAP SE8 of 21−0.4%+61.3%+52.3%−24.2%+9.2%−1.3%+36.4%−10.0%+31.7%+11.1%+15.3%−18.6%+10.0%+55.8%+6.0%+9.8%+31.4%−28.0%−2.6%+18.7%+2.8%
SNOW Snowflake Inc.2 of 5+42.1%−22.4%+38.6%−57.6%+20.4%————————————————
GOOG Alphabet Inc.10 of 21+65.4%+35.6%+58.8%−38.7%+65.2%+31.0%+29.1%−1.0%+35.6%+1.7%+44.5%−6.0%+58.5%+9.5%+8.8%−4.2%+101%−55.5%+50.2%+11.1%+115%
AMZN Amazon.com, Inc.12 of 21+5.2%+44.4%+80.9%−49.6%+2.4%+76.3%+23.0%+28.4%+56.0%+10.9%+118%−22.2%+59.0%+45.0%−3.9%+33.7%+163%−44.7%+135%−16.5%+6.8%
ORCL Oracle Corporation10 of 21+18.1%+60.0%+30.9%−4.7%+36.9%+24.3%+19.4%−3.0%+24.9%+6.9%−17.6%+19.0%+15.7%+31.8%−17.5%+28.6%+39.4%−21.4%+31.7%+40.4%−11.0%
TEAM Atlassian Corporation5 of 10−33.4%+2.3%+84.8%−66.3%+63.0%+94.3%+35.2%+95.5%+89.0%−20.0%———————————
DOCU DocuSign, Inc.3 of 7−23.9%+51.3%+7.3%−63.6%−31.5%+200%+84.9%——————————————
ZM Zoom Communications, Inc.2 of 6+5.7%+13.5%+6.2%−63.2%−45.5%+396%———————————————
HUBS HubSpot, Inc.6 of 11−42.4%+20.0%+101%−56.1%+66.3%+150%+26.1%+42.2%+88.1%−16.5%+67.5%——————————
PEGA Pegasystems Inc.10 of 21+28.4%+91.0%+43.1%−69.3%−16.0%+67.5%+66.8%+1.8%+31.6%+31.5%+33.0%−15.1%+118%−22.5%−19.5%+8.2%+177%+4.3%+22.9%+36.8%−14.0%
BRZE Braze, Inc.1 of 4−18.1%−21.2%+94.8%−64.6%—————————————————
SPT Sprout Social, Inc.3 of 6−63.3%−50.0%+8.8%−37.7%+99.7%+183%———————————————
ACN Accenture plc8 of 21−22.1%+1.9%+33.6%−34.8%+60.7%+26.0%+51.2%−6.2%+33.3%+14.3%+20.8%+11.4%+26.6%+27.7%+12.0%+19.1%+29.0%−7.5%−1.4%+29.3%+8.3%
FIVN Five9, Inc.6 of 11−50.7%−48.4%+16.0%−50.6%−21.3%+166%+50.0%+75.7%+75.3%+63.1%+94.2%——————————
WDAY Workday, Inc.6 of 13−16.8%−6.5%+65.0%−38.8%+14.0%+45.7%+3.0%+57.0%+53.9%−17.1%−2.4%−1.9%+52.6%————————
ASAN Asana, Inc.1 of 5−32.4%+6.6%+38.0%−81.5%+152%————————————————
MNDY monday.com Ltd.0 of 4−37.3%+25.4%+53.9%−60.5%—————————————————
INTU Intuit Inc.10 of 21+6.1%+1.2%+61.8%−39.1%+70.3%+46.1%+34.1%+25.9%+39.2%+20.2%+5.9%+22.1%+29.7%+14.3%+7.0%+60.4%+29.2%−24.7%+3.6%+14.5%+21.1%
NICE NICE Ltd.8 of 21−33.4%−14.9%+3.8%−36.7%+7.1%+82.8%+43.4%+17.7%+34.0%+21.1%+14.4%+25.6%+23.9%−2.8%−1.3%+12.4%+38.1%−34.5%+11.5%+27.8%+54.0%
ADBE Adobe Inc.8 of 21−21.3%−25.5%+77.3%−40.6%+13.4%+51.6%+45.8%+29.1%+70.2%+9.6%+29.2%+21.4%+58.9%+33.3%−8.2%−16.3%+72.8%−50.2%+3.9%+11.3%+17.9%
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Risk and diversification

How CRM 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 CRM's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents CRM's five deepest drawdowns since it began trading in 2004, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Note: CRM began trading on June 23, 2004, so this list cannot include the dot-com bust. The crash tests on this page show how older funds and the S&P 500 fared through those years.

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

DuringCRM fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−70.5%−37.6%Jun 2008Nov 20085 monthsDec 200913 months
No named crash−58.7%+25.0%Dec 2024Jun 202618 monthsNot yet—
2022 bear market−58.6%−16.7%Nov 2021Dec 202213 monthsMar 202415 months
No named crash−48.8%−3.2%Jan 2006Jul 20066 monthsNov 20064 months
No named crash−44.1%−6.6%Jun 2004Aug 20042 monthsOct 20042 months

How did CRM do in stock market crashes?

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

Note: CRM began trading on June 23, 2004, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.

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

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
CRM This pageSalesforce, Inc.—−5.3%−42.7%−35.7%−24.8%−6.1%−34.2%−26.9%−4.2%−70.5%Not yet trading
SPY S&P 500State Street SPDR S&P 500 ETF8 of 9−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
NOW ServiceNow, Inc.3 of 6−7.2%−39.9%−28.8%−20.6%−8.5%−47.6%————
MSFT Microsoft Corporation8 of 9−2.0%−31.0%−27.7%−18.2%−7.4%−14.4%−14.1%−2.6%−57.9%−62.9%
DDOG Datadog, Inc.0 of 3−9.5%−53.0%−38.8%———————
TWLO Twilio Inc.0 of 5−12.3%−73.7%−44.0%−27.1%−6.4%—————
SAP SAP SE7 of 9−2.0%−41.9%−32.6%−25.0%−6.9%−13.3%−25.0%−1.4%−49.6%−87.9%
SNOW Snowflake Inc.0 of 2−7.8%−64.1%————————
GOOG Alphabet Inc.8 of 9−3.9%−35.0%−30.8%−18.9%−9.9%−12.7%−21.1%−1.1%−65.3%—
AMZN Amazon.com, Inc.7 of 9−3.4%−39.6%−22.7%−33.2%−7.1%−30.6%−20.7%−2.9%−65.3%−91.8%
ORCL Oracle Corporation7 of 9−5.0%−31.0%−28.3%−17.2%−6.6%−16.1%−23.9%−2.1%−41.1%−84.2%
TEAM Atlassian Corporation1 of 5−12.4%−53.1%−21.4%−30.2%−7.3%—————
DOCU DocuSign, Inc.1 of 4−24.3%−71.2%−24.9%−29.9%——————
ZM Zoom Communications, Inc.2 of 3−2.6%−59.2%−14.0%———————
HUBS HubSpot, Inc.0 of 6−8.4%−53.8%−47.3%−24.8%−6.8%−53.8%————
PEGA Pegasystems Inc.3 of 9−6.6%−72.2%−38.3%−30.3%−7.7%−31.1%−35.7%−0.8%−32.6%−91.7%
BRZE Braze, Inc.0 of 2−9.0%−57.9%————————
SPT Sprout Social, Inc.0 of 3−10.3%−52.0%−36.9%———————
ACN Accenture plc9 of 9−4.7%−37.3%−33.5%−22.6%−4.1%−14.9%−22.7%−1.9%−35.7%—
FIVN Five9, Inc.4 of 6−7.2%−60.5%−28.3%−20.5%−4.2%−29.6%————
WDAY Workday, Inc.2 of 6−2.8%−47.0%−42.4%−17.3%−5.8%−42.3%————
ASAN Asana, Inc.0 of 2−9.5%−77.5%————————
MNDY monday.com Ltd.0 of 2−12.9%−68.7%————————
INTU Intuit Inc.5 of 9−6.0%−42.7%−36.3%−20.8%−6.5%−24.8%−18.0%−3.4%−38.3%−66.0%
NICE NICE Ltd.8 of 9−4.7%−37.6%−35.2%−11.7%−3.8%−21.0%−26.2%−1.2%−57.0%−91.6%
ADBE Adobe Inc.6 of 9−6.2%−50.3%−25.6%−25.5%−5.4%−22.7%−23.6%−0.2%−66.7%−79.9%
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How closely does CRM 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 CRM 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 CRM's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
CRM This pageSalesforce, Inc.115%143%0.801.16
NOW ServiceNow, Inc.114%79%1.450.97
MSFT Microsoft Corporation127%91%1.390.96
GOOG Alphabet Inc.132%110%1.201.12
TEAM Atlassian Corporation130%132%0.991.03
AMZN Amazon.com, Inc.134%139%0.961.31
TWLO Twilio Inc.119%129%0.921.44
ORCL Oracle Corporation131%159%0.821.30
HUBS HubSpot, Inc.121%149%0.811.46
INTU Intuit Inc.99%126%0.791.03
PEGA Pegasystems Inc.87%113%0.771.05
SAP SAP SE112%152%0.741.10
FIVN Five9, Inc.85%114%0.741.05
WDAY Workday, Inc.96%139%0.701.19
NICE NICE Ltd.65%94%0.690.78
ADBE Adobe Inc.123%184%0.671.24
ACN Accenture plc117%186%0.631.12
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What diversifies CRM?

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

ETFs

InvestmentCorrelation5Y returnSharpe2025202220162011200880/20 mix volatility80/20 mix annual return
CRM Salesforce, Inc. (this page)1.00−14.8%0.12−20.2%−47.8%−12.7%−23.2%−49.0%41.3%−2.9%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.12+119%1.48+27.1%+3.8%———33.4%+2.1%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.20+225%1.34+32.8%+6.0%+1.1%−16.1%−20.8%33.7%+3.8%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.10+101%1.04+9.7%+10.4%+29.8%——33.5%+1.9%
HDV Dividend & IncomeiShares Core High Dividend ETF0.12+83.3%1.00+11.9%+7.1%+15.9%——33.5%+1.3%
SMH TechnologyVanEck Semiconductor ETF0.27+323%0.97+49.2%−33.5%+35.6%+6.8%−44.7%35.6%+5.8%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.30+85.0%0.96+23.1%−5.1%+6.3%——33.8%+1.4%
GLD CommoditiesSPDR Gold Shares0.16+126%0.96+63.7%−0.8%+8.0%+9.6%+4.9%33.8%+2.4%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.22+136%0.93+26.6%−10.4%+7.4%——34.2%+2.9%

Stocks

InvestmentCorrelation5Y returnSharpe2025202220162011200880/20 mix volatility80/20 mix annual return
CRM Salesforce, Inc. (this page)1.00−14.8%0.12−20.2%−47.8%−12.7%−23.2%−49.0%41.3%−2.9%
CAH Medical - DistributionCardinal Health, Inc.0.02+479%1.55+76.3%+54.1%−17.5%+8.1%−39.6%33.6%+6.1%
CLS Hardware, Equipment & PartsCelestica Inc.0.17+3,143%1.47+220%+1.3%+7.4%−24.4%−20.5%36.9%+17.1%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.07+1,636%1.46+121%+17.0%+18.3%−17.0%−15.2%34.8%+13.9%
MCK Medical - DistributionMcKesson Corporation0.02+413%1.44+44.5%+51.8%−28.3%+11.8%−40.4%33.6%+5.5%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.08+690%1.41+19.2%+86.6%+0.7%——34.2%+7.9%
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Common questions

What was CRM's worst drawdown?

CRM's deepest decline since it began trading in 2004 was 70.5%, from June to November 2008. It took 13 months from the low to climb back to its old high. Because CRM launched in June 2004, that record does not include the dot-com bust.

What were CRM's best and worst years?

Over 21 full calendar years, CRM's best year was 2009, when it returned 130%. Its worst was 2008, with a return of -49.0%.

Is there a better investment than CRM?

Among CRM's popular alternatives, GOOG, MSFT and SAP earned more than CRM with less volatility over the past 5 years. GOOG returned 19.0% a year at 32.0% volatility, against a loss of 3.2% a year at 39.4%. Looking beyond its popular alternatives, CIBR (cybersecurity) and EXLS (IT services) earned more than CRM with less volatility over the past 5 years. CIBR returned 14.1% a year at 26.1% volatility, against a loss of 3.2% a year at 39.4%.

Is CRM more volatile than the S&P 500?

Yes. CRM's volatility over the past 5 years was 39.4%, 2.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, CRM's return lands within 39.4% 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 CRM's Sharpe ratio?

CRM's Sharpe ratio over the past 5 years was 0.12, against 0.79 for the S&P 500, so CRM 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 CRM with the S&P 500?

Over the past 5 years, CRM's monthly returns had a correlation of 0.48 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 CRM instead: the lower it is, the more that option would diversify a CRM holding.

What are the best alternatives to CRM?

Of the 24 popular alternatives we compared, six outperformed CRM in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: NOW, MSFT and DDOG.

Did CRM outperform the S&P 500?

CRM finished ahead of the S&P 500 (SPY) in 11 of 21 full calendar years. In 2025, it returned -20.2%, against +17.7% for the index.

How did CRM do in stock market crashes?

CRM fell less than the S&P 500 (SPY) in none of the nine major crashes it has traded through, and further in eight. The clearest case was the 2015 China and oil sell-off, when CRM fell 34.2% and the S&P 500 fell 12.8%.

What diversifies CRM?

These had a low correlation with CRM over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.12), DXJ (correlation 0.20) and EMLP (correlation 0.10); among large stocks, CAH (correlation 0.02), CLS (correlation 0.17) and FIX (correlation 0.07). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to CRM