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Relative Intelligence · Business Services

How Cintas (CTAS) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on CTAS alone. It places CTAS (Cintas Corporation) against 12 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 CTAS stands in the market, and of the alternatives worth a closer look.

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

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

Rank the market against CTAS →Chart CTAS vs. 12 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in CTAS over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of CTAS over the same span and CTAS's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 128 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of CTAS; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M$10M199720022007201220172022$10,000$100,000$1M$10M19972004201120182025
  • AAPL$21M+205,249% total · +30.1% a year
  • ESLT$2M+16,428% total · +19.3% a year
  • GILD$2M+15,614% total · +19.1% a year
  • FAST$485,606+4,756% total · +14.3% a year
  • PGR$454,424+4,444% total · +14.1% a year
  • GWW$444,276+4,343% total · +14.0% a year
  • CTAS$440,279+4,303% total · +13.9% a year
  • ECL$316,339+3,063% total · +12.6% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • GHC$60,326+503% total · +6.4% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 689 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of CTAS; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000$60,000$70,000202120222023202420252026$0$20,000$40,000$60,000$80,000202120222023202420252026
  • ESLT$49,131+391% total · +37.5% a year
  • MCK$43,941+339% total · +34.5% a year
  • GWW$33,303+233% total · +27.2% a year
  • PM$25,119+151% total · +20.2% a year
  • ARMK$23,906+139% total · +19.0% a year
  • FAST$21,648+116% total · +16.7% a year
  • CTAS$21,474+115% total · +16.5% a year
  • GHC$20,170+102% total · +15.1% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • ECL$13,921+39.2% total · +6.8% a year
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CTAS at a glance

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

The company

Market value
$86B
Industry
Specialty Business Services
Price history from
October 1986

Returns

Past 1 year
+14.0%total return
Past 3 years
+78.9%+21.4% a year
Past 5 years
+115%+16.5% a year
Past 10 years
+808%+24.7% a year
Best calendar year
+81.4%1998
Worst calendar year
−29.9%2008
Losing years
8 of 29full calendar years

Risk

Volatility
23.1%typical yearly swing, 5 years
Sharpe ratio
0.78return per unit of risk, 5 years
Worst decline ever
−65.3%May 2002 to Mar 2009
From its all-time high
−3.5%below the peak

CTAS against the whole market

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

How does CTAS rank among all stocks?

This section ranks CTAS 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 CTAS 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.

MeasureCTASRankStanding
1-year return+14.0%1,443 of 3,287top 44%
3-year return+78.9%1,140 of 3,017top 38%
5-year return+115%608 of 2,893top 21%
10-year return+808%152 of 2,202top 7%
Volatility, 5 years23.1%219 of 2,893top 8%
Sharpe ratio, 5 years0.78310 of 2,893top 11%
Worst decline, past 10 years−48.4%393 of 2,187top 18%

What has beaten CTAS 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). CTAS sits where the dashed lines cross. Anything in the green box above and to the left earned more than CTAS 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 CTAS; faint dots are 13 more of the 24 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.

15.0%17.5%20.0%22.5%25.0%27.5%30.0%32.5%35.0%37.5%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than CTASSDCI: +20.6% a year, volatility 18.4%GLD: +17.7% a year, volatility 18.9%SPMO: +18.7% a year, volatility 20.8%CRAK: +19.8% a year, volatility 20.9%MPLX: +23.5% a year, volatility 18.8%DBJP: +20.9% a year, volatility 19.2%MO: +17.8% a year, volatility 21.4%CM: +19.2% a year, volatility 21.6%AFL: +19.0% a year, volatility 20.8%MLPX: +18.6% a year, volatility 19.7%EUFN: +18.5% a year, volatility 21.8%EWP: +19.2% a year, volatility 20.3%ATMP: +21.2% a year, volatility 21.5%CTAS: +16.5% a year, volatility 23.1%SPY (S&P 500): +12.7% a year, volatility 17.1%GWW: +26.3% a year, volatility 24.9%ARMK: +17.9% a year, volatility 28.5%ESLT: +39.8% a year, volatility 34.6%PM: +21.0% a year, volatility 23.4%MCK: +38.7% a year, volatility 25.0%GILD: +22.8% a year, volatility 24.9%CBOE: +21.5% a year, volatility 25.1%DXJ: +26.6% a year, volatility 19.1%EWT: +20.4% a year, volatility 24.2%RY: +17.3% a year, volatility 18.2%PGR: +21.3% a year, volatility 25.6%CTASSPY (S&P 500)GWWARMKESLTPMMCKGILDCBOEDXJEWTRY15.0%20.0%25.0%30.0%35.0%40.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than CTASSDCI: +20.6% a year, volatility 18.4%GLD: +17.7% a year, volatility 18.9%SPMO: +18.7% a year, volatility 20.8%CRAK: +19.8% a year, volatility 20.9%MPLX: +23.5% a year, volatility 18.8%DBJP: +20.9% a year, volatility 19.2%MO: +17.8% a year, volatility 21.4%CM: +19.2% a year, volatility 21.6%AFL: +19.0% a year, volatility 20.8%MLPX: +18.6% a year, volatility 19.7%EUFN: +18.5% a year, volatility 21.8%EWP: +19.2% a year, volatility 20.3%ATMP: +21.2% a year, volatility 21.5%CTAS: +16.5% a year, volatility 23.1%SPY (S&P 500): +12.7% a year, volatility 17.1%GWW: +26.3% a year, volatility 24.9%ARMK: +17.9% a year, volatility 28.5%ESLT: +39.8% a year, volatility 34.6%PM: +21.0% a year, volatility 23.4%MCK: +38.7% a year, volatility 25.0%GILD: +22.8% a year, volatility 24.9%CBOE: +21.5% a year, volatility 25.1%DXJ: +26.6% a year, volatility 19.1%EWT: +20.4% a year, volatility 24.2%RY: +17.3% a year, volatility 18.2%PGR: +21.3% a year, volatility 25.6%CTASSPY (S&P 500)GWWARMKESLTPMMCKGILDDXJEWTRY
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than CTAS?

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

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

Screen the whole market against CTAS for any period in BetterThanSPYOpen these 12 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 CTAS?lower diversifies moreExpenseper year
CTASCintas Corporation · this page
+16.5%23.1%0.78−48.4%+808%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.590.09%
Popular alternativesbest 2 shownThe investments people most often weigh against CTAS. 2 of 11 passed at least one test.
GWWW.W. Grainger, Inc. · Industrial Distribution
Higher return, similar volatilityHigher Sharpe, smaller worst decline+26.3%24.9%1.07−41.6%+654%0.60—
ARMKAramark · Food Services
Higher return in most periods+17.9%28.5%0.72−72.3%+137%0.50—
Same and neighboring categories, and shared themesbest 1 shownEverything else in Business Services and the categories next to it (IT Services, Aerospace & Defense, Financial Data, Application Software), plus CTAS's specific themes. 1 of 94 passed at least one test.
ESLTElbit Systems Ltd. · Aerospace & Defense
Higher Sharpe, smaller worst decline+39.8%34.6%1.15−35.4%+765%0.12—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 111 of 3,528 passed at least one test.
PMPhilip Morris International Inc. · Tobacco
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+21.0%23.4%0.94−42.9%+242%0.37—
MCKMcKesson Corporation · Health Care Distribution
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+38.7%25.0%1.44−38.1%+586%0.44—
GILDGilead Sciences, Inc. · Biotechnology
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+22.8%24.9%0.95−30.5%+200%0.25—
CBOECboe Global Markets, Inc. · Capital Markets
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+21.5%25.1%0.91−43.2%+463%0.52—
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst decline+26.6%19.1%1.34−39.1%+428%0.180.48%
EWTiShares MSCI Taiwan ETF · International Equity
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+20.4%24.2%0.89−38.9%+468%0.160.59%
RYRoyal Bank of Canada · Banks
On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline+17.3%18.2%0.97−40.0%+352%0.29—
PGRThe Progressive Corporation · Property & Casualty Insurance
Higher Sharpe, smaller worst declineSmaller losses in recent crashes+21.3%25.6%0.89−30.3%+816%0.40—
What these numbers mean for CTAS
Annual return
CTAS returned 16.5% 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 $21,500. 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
CTAS's volatility over the past 5 years was 23.1%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, CTAS's return lands within 23.1% 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
CTAS's Sharpe ratio over the past 5 years was 0.78, against 0.79 for the S&P 500, so CTAS 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
CTAS's worst fall from a peak to a low over the past 10 years was 48.4%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 48.4% fall takes a 93.7% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, CTAS's monthly returns had a correlation of 0.59 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 CTAS instead: the lower it is, the more that option would diversify a CTAS holding. Guide: Correlation and diversification →
Show all 24 stocks and funds worth at least $500 million that earned more than CTAS with less volatility

Out of 3,633 tested over 5 years. The strongest 14 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with CTASExpense
1
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.180.48%
2
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.080.80%
3
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.240.40%
4
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%0.390.13%
5
CRAKVanEck Oil Refiners ETF · Energy
Whole market+19.8%20.9%0.97−58.8%+336%0.340.61%
6
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.47—
7
DBJPXtrackers MSCI Japan Hedged Equity ETF · International
Whole market+20.9%19.2%1.09−31.3%+348%0.190.45%
8
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%0.31—
9
CMCanadian Imperial Bank of Commerce · Banks
Whole market+19.2%21.6%0.93−47.3%+395%0.37—
10
AFLAflac Incorporated · Life Insurance
Whole market+19.0%20.8%0.95−54.9%+335%0.47—
11
MLPXGlobal X - MLP & Energy Infrastructure ETF · Energy
Whole market+18.6%19.7%0.97−64.6%+186%0.480.45%
12
EUFNiShares MSCI Europe Financials ETF · Financial Sector Equity
Whole market+18.5%21.8%0.89−53.2%+233%0.460.49%
13
EWPiShares MSCI Spain ETF · Broad Market
Whole market+19.2%20.3%0.97−46.4%+196%0.410.50%
14
ATMPBarclays ETN+ Select MLP ETN · Broad Market
Whole market+21.2%21.5%1.01−70.3%+172%0.480.95%

CTAS against its popular alternatives

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

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

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

15.0%17.5%20.0%22.5%25.0%27.5%30.0%32.5%35.0%37.5%−15.0%−10.0%−5.0%0.0%5.0%10.0%15.0%20.0%25.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityCTAS: 16.5% a year, volatility 23.1%SPY (S&P 500): 12.7% a year, volatility 17.1%FAST: 15.8% a year, volatility 24.6%ECL: 6.7% a year, volatility 24.1%ABM: 5.0% a year, volatility 31.0%UNF: 6.3% a year, volatility 30.9%PAYX: 1.5% a year, volatility 25.0%ROL: −1.5% a year, volatility 25.6%RTO: −11.4% a year, volatility 35.4%ARMK: 17.9% a year, volatility 28.5%GWW: 26.3% a year, volatility 24.9%GHC: 17.4% a year, volatility 26.3%ADP: 9.0% a year, volatility 22.9%CTASSPY (S&P 500)FASTECLABMUNFPAYXROLRTOARMKGWWGHCADP15.0%20.0%25.0%30.0%35.0%40.0%−20.0%−10.0%0.0%10.0%20.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityCTAS: 16.5% a year, volatility 23.1%SPY (S&P 500): 12.7% a year, volatility 17.1%FAST: 15.8% a year, volatility 24.6%ECL: 6.7% a year, volatility 24.1%ABM: 5.0% a year, volatility 31.0%UNF: 6.3% a year, volatility 30.9%PAYX: 1.5% a year, volatility 25.0%ROL: −1.5% a year, volatility 25.6%RTO: −11.4% a year, volatility 35.4%ARMK: 17.9% a year, volatility 28.5%GWW: 26.3% a year, volatility 24.9%GHC: 17.4% a year, volatility 26.3%ADP: 9.0% a year, volatility 22.9%CTASSPY (S&P 500)ECLABMUNFPAYXROLRTOARMKGWWGHCADP
All figures
InvestmentAnnual returnVolatility
GWW W.W. Grainger, Inc.+26.3%24.9%
ARMK Aramark+17.9%28.5%
GHC Graham Holdings Company+17.4%26.3%
CTAS This pageCintas Corporation+16.5%23.1%
FAST Fastenal Company+15.8%24.6%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
ADP Automatic Data Processing, Inc.+9.0%22.9%
ECL Ecolab Inc.+6.7%24.1%
UNF UniFirst Corporation+6.3%30.9%
ABM ABM Industries Inc.+5.0%31.0%
PAYX Paychex, Inc.+1.5%25.0%
ROL Rollins, Inc.−1.5%25.6%
RTO Rentokil Initial plc−11.4%35.4%
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Has CTAS consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than CTAS 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
CTAS Cintas Corporation (this page)—+10.2%+7.8%+22.1%+18.3%+14.0%+78.9%+115%+808%23.1%0.78−48.4%—$86B—
ARMK QualifiedAramark3/5 short2/3 long−0.6%−0.4%+23.6%+54.6%+46.3%+120%+128%+137%28.5%0.72−72.3%—$15B—
GWW Industrial - DistributionW.W. Grainger, Inc.2/5 short2/3 long+4.6%−2.4%+15.3%+33.9%+38.7%+98.1%+221%+654%24.9%1.07−41.6%—$63B—
GHC ConglomeratesGraham Holdings Company1/5 short2/3 long+7.1%+5.8%+6.8%+13.5%+23.2%+116%+123%+191%26.3%0.74−62.5%—$5.2B—
FAST Industrial - DistributionFastenal Company3/5 short1/3 long+4.0%+16.0%+14.6%+29.8%+22.8%+92.7%+108%+576%24.6%0.72−30.7%—$59B—
ECL Chemicals - SpecialtyEcolab Inc.0/5 short1/3 long+6.7%+7.5%+5.1%+10.6%+4.0%+85.8%+38.1%+176%24.1%0.39−43.7%—$81B—
ABM Specialty Business ServicesABM Industries Inc.4/5 short0/3 long+4.9%+9.8%+29.4%+24.1%+16.3%+36.9%+27.4%+66.3%31.0%0.31−52.0%—$3.0B—
VSTS Rental & Leasing ServicesVestis Corporation3/5 short0/3 long+1.8%−10.2%+42.2%+120%+197%+1.3%————−81.6%—$1.9B—
ADP Software - ApplicationAutomatic Data Processing, Inc.2/5 short0/3 long+8.5%+15.4%+46.7%+18.4%+6.4%+30.2%+53.6%+320%22.9%0.49−40.8%—$116B—
UNF Specialty Business ServicesUniFirst Corporation2/5 short0/3 long+1.0%−8.1%+2.2%+38.3%+56.6%+66.7%+35.5%+136%30.9%0.35−40.8%—$4.8B—
PAYX Staffing & Employment ServicesPaychex, Inc.1/5 short0/3 long−2.1%−1.2%+23.8%+7.2%−7.1%+7.5%+7.9%+173%25.0%0.19−45.0%—$40B—
ROL Specialty Business ServicesRollins, Inc.0/5 short0/3 long+3.1%−25.1%−38.8%−42.9%−39.7%+5.0%−7.2%+202%25.6%0.07−54.2%—$16B—
RTO Specialty Business ServicesRentokil Initial plc0/5 short0/3 long−0.7%−29.0%−37.2%−28.3%−20.1%−19.7%−45.4%+64.9%35.4%-0.17−51.0%—$11B—
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How did CTAS do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where CTAS ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with CTAS and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

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

InvestmentYears ahead of CTAS20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
CTAS This pageCintas Corporation—+3.8%+22.2%+34.8%+3.0%+26.5%+32.7%+61.7%+9.0%+36.3%+28.6%+17.4%+34.8%+47.9%+19.3%+26.7%+11.2%+14.8%−29.9%−14.6%−2.6%−5.6%−11.9%+10.3%−4.2%−9.3%+51.2%−24.4%+81.5%+33.6%
Rank among alternativesTop quarter in 8 of 297 of 135 of 134 of 125 of 125 of 123 of 121 of 126 of 123 of 124 of 124 of 121 of 123 of 114 of 113 of 118 of 118 of 118 of 1110 of 1110 of 1110 of 1110 of 117 of 117 of 119 of 113 of 118 of 111 of 116 of 11
SPY S&P 500State Street SPDR S&P 500 ETF11 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
ARMK Aramark2 of 12−0.1%+34.2%−4.7%+13.5%−3.0%−10.0%+51.7%−31.5%+20.9%+12.0%+4.6%+20.2%—————————————————
GWW W.W. Grainger, Inc.16 of 29−3.4%+28.2%+50.5%+8.7%+28.8%+22.8%+22.3%+21.7%+4.3%+17.3%−18.9%+1.5%+28.0%+9.8%+37.8%+45.3%+25.4%−8.2%+27.1%−0.1%+8.3%+42.7%−6.6%+8.9%+33.8%−22.3%+16.5%−13.3%+22.6%
GHC Graham Holdings Company10 of 29+27.0%+26.3%+16.6%−3.0%+19.3%−15.3%+0.6%+15.8%+10.1%+6.6%−5.8%+32.2%+81.6%+2.2%−12.2%+2.1%+15.0%−49.9%+7.3%−1.5%−21.5%+25.2%+8.1%+40.6%−13.2%+12.2%−2.9%+19.9%+47.0%
FAST Fastenal Company15 of 29+14.0%+13.5%+41.4%−24.4%+34.0%+36.6%+45.0%−1.6%+17.2%+18.6%−11.8%+2.3%+3.4%+10.1%+48.5%+47.6%+22.0%−12.3%+14.0%−7.1%+28.3%+25.0%+34.3%+12.6%+20.9%+21.9%+2.3%+15.0%−16.0%
ECL Ecolab Inc.15 of 29+13.2%+19.3%+37.9%−37.1%+9.4%+13.2%+32.3%+11.1%+15.8%+3.7%+10.7%+1.3%+46.6%+25.9%+16.3%+14.6%+28.7%−30.5%+14.5%+25.9%+4.4%+29.7%+11.9%+24.4%−5.5%+11.9%+9.3%+32.3%+49.7%
ABM ABM Industries Inc.13 of 29−15.5%+16.3%+3.0%+10.7%+9.8%+2.1%+20.4%−13.0%−6.1%+46.3%+0.9%+2.5%+46.8%+0.2%−19.6%+30.5%+11.6%−4.3%−8.4%+18.9%+1.3%+15.7%+15.2%+1.2%+4.5%+54.3%−40.0%+15.3%+68.3%
VSTS Vestis Corporation0 of 2−56.1%−27.2%———————————————————————————
ADP Automatic Data Processing, Inc.11 of 29−10.2%+28.4%−0.3%−1.3%+42.6%+5.9%+32.7%+14.3%+16.5%+24.3%+4.1%+20.5%+45.6%+8.5%+20.2%+11.7%+12.7%−9.0%+2.8%+9.1%+5.1%+13.5%+2.4%−32.7%−6.4%+18.3%+35.3%+31.7%+44.6%
UNF UniFirst Corporation12 of 29+13.6%−5.7%−4.5%−7.6%−0.1%+5.4%+41.6%−13.0%+14.9%+38.0%−14.1%+13.7%+46.2%+29.5%+3.4%+14.8%+62.7%−21.6%−0.7%+24.1%+10.4%+19.9%+18.2%−9.9%+122%−17.5%−44.1%−18.3%+32.7%
PAYX Paychex, Inc.12 of 29−17.5%+21.3%+6.2%−13.2%+50.1%+13.3%+34.5%−1.1%+15.4%+18.9%+18.4%+5.0%+48.9%+9.7%+1.4%+5.3%+22.1%−24.6%−6.0%+5.7%+13.7%−7.1%+35.3%−18.8%−27.6%+83.5%+17.6%+53.4%+48.7%
ROL Rollins, Inc.17 of 29+31.1%+7.5%+21.2%+8.1%−11.5%+78.5%−6.9%+17.7%+39.6%+32.6%+19.4%+11.3%+40.1%+1.1%+14.1%+56.2%+8.7%−4.5%+32.1%+13.5%+13.6%+18.2%+34.9%+28.5%+6.1%+35.0%−12.8%−12.1%+4.8%
RTO Rentokil Initial plc8 of 29+19.4%−9.8%−6.1%−22.3%+14.4%+16.8%+42.5%−0.1%+63.0%+16.9%+30.4%−0.6%+22.9%+70.5%−36.5%−18.9%+190%−71.6%−22.0%+19.5%+1.9%−12.1%+0.2%−10.6%+19.8%−7.3%−50.3%+73.8%+20.5%
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Risk and diversification

How CTAS 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 CTAS's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents CTAS's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

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

DuringCTAS fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−65.3%−29.9%May 2002Mar 20096.8 yearsAug 20134.4 years
No named crash−52.8%+8.3%Feb 1999Feb 200012 monthsNov 20009 months
Covid crash−48.4%−33.7%Feb 2020Mar 20201 monthJul 20204 months
No named crash−43.6%—Aug 1987Nov 19873 monthsSep 198922 months
Dot-com bust−36.3%−11.1%Dec 2000Mar 20013 monthsMay 200214 months

How did CTAS do in stock market crashes?

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

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

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
CTAS This pageCintas Corporation—−2.5%−19.8%−48.4%−25.9%−7.8%−13.8%−21.7%−2.3%−49.5%−36.3%
SPY S&P 500State Street SPDR S&P 500 ETF6 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
ARMK Aramark0 of 6−9.5%−24.8%−69.8%−36.1%−10.5%−14.0%————
GWW W.W. Grainger, Inc.7 of 10−3.6%−16.9%−32.5%−25.2%−2.1%−20.6%−18.5%−1.5%−35.3%−55.6%
GHC Graham Holdings Company4 of 10−9.7%−18.7%−48.4%−7.9%−2.2%−38.8%−26.7%−2.5%−63.4%−21.9%
FAST Fastenal Company5 of 10−2.7%−25.5%−27.8%−17.4%−2.7%−12.7%−14.0%−2.1%−51.8%−36.4%
ECL Ecolab Inc.8 of 10−1.3%−39.2%−40.3%−13.8%−6.8%−16.3%−16.1%0.0%−41.9%−30.0%
ABM ABM Industries Inc.4 of 10−6.9%−29.0%−47.5%−22.9%−6.9%−20.4%−27.0%−2.8%−56.4%−34.2%
ADP Automatic Data Processing, Inc.5 of 10−3.3%−19.9%−39.5%−19.2%−8.7%−14.1%−15.8%0.0%−35.7%−53.6%
UNF UniFirst Corporation3 of 10−2.6%−26.1%−39.0%−24.3%−8.7%−15.7%−24.3%−1.7%−59.1%−35.9%
PAYX Paychex, Inc.5 of 10−4.3%−22.6%−44.1%−17.4%−7.1%−14.8%−14.6%−1.0%−49.5%−64.9%
ROL Rollins, Inc.8 of 10−1.0%−14.5%−22.5%−20.5%−5.4%−20.1%−19.4%−2.4%−37.2%−30.8%
RTO Rentokil Initial plc3 of 10−2.6%−33.7%−40.7%−17.2%−8.9%−14.9%−27.1%−8.4%−86.5%−32.2%
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How closely does CTAS 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 CTAS 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 CTAS's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
CTAS This pageCintas Corporation128%110%1.161.20
FAST Fastenal Company106%87%1.230.98
GWW W.W. Grainger, Inc.113%95%1.191.12
ADP Automatic Data Processing, Inc.89%88%1.010.79
ROL Rollins, Inc.74%80%0.920.67
ECL Ecolab Inc.75%86%0.870.94
GHC Graham Holdings Company83%99%0.840.92
PAYX Paychex, Inc.87%114%0.770.89
UNF UniFirst Corporation81%111%0.720.83
ARMK Aramark100%142%0.711.50
ABM ABM Industries Inc.65%101%0.641.02
RTO Rentokil Initial plc80%127%0.620.91
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What diversifies CTAS?

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

ETFs

InvestmentCorrelation5Y returnSharpe2008200720062005200420022001199980/20 mix volatility80/20 mix annual return
CTAS Cintas Corporation (this page)1.00+115%0.78−29.9%−14.6%−2.6%−5.6%−11.9%−4.2%−9.3%−24.4%24.6%+16.5%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.46+119%1.48————————20.6%+17.0%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.18+225%1.34−20.8%−7.4%——————20.3%+19.1%
FJAN Multi-AssetFT Vest U.S. Equity Buffer ETF - January0.47+69.0%1.05————————20.6%+15.9%
MLPX EnergyGlobal X - MLP & Energy Infrastructure ETF0.48+135%0.97————————21.7%+17.7%
SMH TechnologyVanEck Semiconductor ETF0.21+323%0.97−44.7%+6.0%−6.7%+10.8%−19.3%−47.0%−14.6%—22.2%+21.8%
GLD CommoditiesSPDR Gold Shares0.24+126%0.96+4.9%+30.4%+22.6%+17.8%————20.8%+17.5%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.39+136%0.93————————21.6%+18.1%
XLE EnergyState Street Energy Select Sector SPDR ETF0.29+177%0.93−39.0%+36.8%+18.0%+40.1%+33.8%−14.8%−18.2%+18.1%21.8%+18.6%

Stocks

InvestmentCorrelation5Y returnSharpe2008200720062005200420022001199980/20 mix volatility80/20 mix annual return
CTAS Cintas Corporation (this page)1.00+115%0.78−29.9%−14.6%−2.6%−5.6%−11.9%−4.2%−9.3%−24.4%24.6%+16.5%
CAH Medical - DistributionCardinal Health, Inc.0.21+479%1.55−39.6%−9.8%−5.8%+18.7%−4.7%−8.3%−2.5%−36.8%21.4%+21.4%
CLS Hardware, Equipment & PartsCelestica Inc.0.08+3,143%1.47−20.5%−25.7%−26.0%−25.2%−6.4%−65.1%−25.6%+350%23.6%+34.9%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.36+1,636%1.46−15.2%+2.1%+38.9%+20.1%+40.0%−9.4%+73.7%−58.7%24.4%+30.1%
MCK Medical - DistributionMcKesson Corporation0.44+413%1.44−40.4%+29.7%−1.2%+64.9%−1.4%−27.2%+4.9%−71.3%22.3%+20.6%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.25+690%1.41————————22.2%+23.5%
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Common questions

What was CTAS's worst drawdown?

CTAS's deepest decline since it began trading in 1986 was 65.3%, from May 2002 to March 2009. It took about four years from the low to climb back to its old high.

What were CTAS's best and worst years?

Over 29 full calendar years, CTAS's best year was 1998, when it returned 81.4%. Its worst was 2008, with a return of -29.9%.

Is there a better investment than CTAS?

Among CTAS's popular alternatives, GWW earned more for the risk it took than CTAS over the past 5 years, and its worst fall in 10 years was 41.6%, against 48.4% for CTAS. Looking beyond its popular alternatives, ESLT (aerospace & defense) earned more for the risk it took than CTAS over the past 5 years, and its worst fall in 10 years was 35.4%, against 48.4% for CTAS.

Is CTAS more volatile than the S&P 500?

Yes. CTAS's volatility over the past 5 years was 23.1%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, CTAS's return lands within 23.1% 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 CTAS's Sharpe ratio?

CTAS's Sharpe ratio over the past 5 years was 0.78, against 0.79 for the S&P 500, so CTAS 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 CTAS with the S&P 500?

Over the past 5 years, CTAS's monthly returns had a correlation of 0.59 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 CTAS instead: the lower it is, the more that option would diversify a CTAS holding.

What are the best alternatives to CTAS?

Of the 12 popular alternatives we compared, one outperformed CTAS in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: ARMK.

Did CTAS outperform the S&P 500?

CTAS finished ahead of the S&P 500 (SPY) in 17 of 29 full calendar years. In 2025, it returned +3.8%, against +17.7% for the index.

How did CTAS do in stock market crashes?

CTAS fell less than the S&P 500 (SPY) in four of the ten major crashes it has traded through, and further in six. The clearest case was the Covid crash, when CTAS fell 48.4% and the S&P 500 fell 33.7%.

What diversifies CTAS?

These had a low correlation with CTAS over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.46), DXJ (correlation 0.18) and FJAN (correlation 0.47); among large stocks, CAH (correlation 0.21), CLS (correlation 0.08) and FIX (correlation 0.36). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to CTAS

Other stocks and ETFs