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Relative Intelligence · Alcoholic Beverages

How Diageo (DEO) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on DEO alone. It places DEO (Diageo plc) against 13 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 DEO stands in the market, and of the alternatives worth a closer look.

Period covered: DEO's full trading record, from March 1991 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 DEO →Chart DEO vs. 13 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in DEO over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of DEO over the same span and DEO'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. 693 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of DEO; 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
  • MNST$46M+456,538% total · +33.7% a year
  • COST$727,732+7,177% total · +15.9% a year
  • SYY$172,022+1,620% total · +10.3% a year
  • ABEV$151,187+1,412% total · +9.8% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • PEP$64,589+546% total · +6.6% a year
  • DEO$61,057+511% total · +6.4% a year
  • KO$60,026+500% total · +6.4% a year
  • TAP$35,969+260% total · +4.5% a year
  • CCU$22,528+125% total · +2.8% 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. 3,247 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of DEO; 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$25,000202120222023202420252026$0$10,000$20,000$30,000202120222023202420252026
  • COST$21,378+114% total · +16.4% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • KO$18,994+89.9% total · +13.7% a year
  • MNST$18,739+87.4% total · +13.4% a year
  • BUD$14,007+40.1% total · +7.0% a year
  • ABEV$13,972+39.7% total · +6.9% a year
  • SYY$11,272+12.7% total · +2.4% a year
  • PEP$9,908−0.9% total · −0.2% a year
  • STZ$5,890−41.1% total · −10.0% a year
  • DEO$5,025−49.8% total · −12.9% a year
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DEO 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
$52B
Industry
Beverages - Alcoholic
Price history from
March 1991

Returns

Past 1 year
−2.4%total return
Past 3 years
−32.5%−12.3% a year
Past 5 years
−46.8%−11.9% a year
Past 10 years
+11.7%+1.1% a year
Best calendar year
+44.9%2000
Worst calendar year
−31.6%2008
Losing years
12 of 29full calendar years

Risk

Volatility
25.6%typical yearly swing, 5 years
Sharpe ratio
-0.37return per unit of risk, 5 years
Worst decline ever
−63.4%Jan 2022 to Mar 2026
From its all-time high
−51.7%below the peak

DEO against the whole market

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

How does DEO rank among all stocks?

This section ranks DEO 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 DEO 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.

MeasureDEORankStanding
1-year return−2.4%2,086 of 3,287bottom 38%
3-year return−32.5%2,721 of 3,017bottom 11%
5-year return−46.8%2,361 of 2,893bottom 19%
10-year return+11.7%1,760 of 2,202bottom 21%
Volatility, 5 years25.6%380 of 2,893top 13%
Sharpe ratio, 5 years-0.372,826 of 2,893bottom 3%
Worst decline, past 10 years−63.4%1,019 of 2,187top 47%

What has beaten DEO 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). DEO sits where the dashed lines cross. Anything in the green box above and to the left earned more than DEO 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 DEO; faint dots are 90 more of the 1,166 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

−5.0%0.0%5.0%10.0%15.0%20.0%25.0%30.0%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than DEOTD: +15.8% a year, volatility 20.0%MO: +17.8% a year, volatility 21.4%TRV: +22.4% a year, volatility 22.3%COR: +24.2% a year, volatility 22.8%MFC: +22.6% a year, volatility 24.0%BNS: +12.9% a year, volatility 19.9%CTAS: +16.5% a year, volatility 23.1%CME: +11.2% a year, volatility 20.8%ADP: +9.0% a year, volatility 22.9%MSI: +14.8% a year, volatility 23.6%TAK: +11.9% a year, volatility 19.4%ICE: +5.4% a year, volatility 21.8%MDT: −1.8% a year, volatility 22.5%XLV: +8.4% a year, volatility 15.3%RPRX: +13.3% a year, volatility 23.8%BDX: +2.3% a year, volatility 24.1%DGX: +12.3% a year, volatility 22.5%LH: +7.3% a year, volatility 23.8%EWT: +20.4% a year, volatility 24.2%JQUA: +13.6% a year, volatility 15.7%VLUE: +15.9% a year, volatility 18.4%SEIC: +12.7% a year, volatility 22.3%GLD: +17.7% a year, volatility 18.9%THG: +14.4% a year, volatility 22.9%PDBC: +11.7% a year, volatility 19.3%FLTW: +21.8% a year, volatility 24.3%IBB: +6.2% a year, volatility 22.4%IWX: +12.7% a year, volatility 13.8%FLRT: +6.0% a year, volatility 2.3%BND: −0.4% a year, volatility 6.1%VTIP: +2.7% a year, volatility 2.9%DIVB: +13.9% a year, volatility 15.4%RY: +17.3% a year, volatility 18.2%FHLC: +7.3% a year, volatility 15.4%FBT: +10.8% a year, volatility 22.2%CALF: +7.2% a year, volatility 23.0%BSV: +1.7% a year, volatility 2.8%FLOT: +4.5% a year, volatility 1.8%BNDX: +0.2% a year, volatility 4.9%COMT: +13.1% a year, volatility 21.1%SHY: +1.8% a year, volatility 2.0%SPSB: +2.8% a year, volatility 2.0%CHT: +7.7% a year, volatility 13.3%JAAA: +5.1% a year, volatility 1.7%NANR: +17.4% a year, volatility 22.6%NXTG: +16.2% a year, volatility 19.1%AFGD: +0.8% a year, volatility 15.9%MUB: +0.3% a year, volatility 4.2%EIG: +9.1% a year, volatility 23.7%VTI: +11.5% a year, volatility 17.5%FLTR: +4.8% a year, volatility 2.1%RSPH: +6.1% a year, volatility 16.8%FLRN: +4.5% a year, volatility 1.7%VOO: +12.8% a year, volatility 16.9%BKLN: +5.4% a year, volatility 4.5%LMBS: +3.0% a year, volatility 2.6%EBF: +11.2% a year, volatility 21.4%BCAL: +7.5% a year, volatility 22.2%SRLN: +4.7% a year, volatility 3.9%HYG: +3.1% a year, volatility 7.5%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%SVOL: +7.6% a year, volatility 21.8%FTSL: +5.0% a year, volatility 3.4%RAVI: +3.8% a year, volatility 1.4%JPM: +17.3% a year, volatility 24.3%CMS-PB: −2.2% a year, volatility 23.1%MEAR: +2.4% a year, volatility 1.0%SCHP: +0.1% a year, volatility 6.1%JNJ: +12.7% a year, volatility 17.9%LVHI: +17.0% a year, volatility 11.1%VXUS: +8.2% a year, volatility 16.4%QQQ: +14.5% a year, volatility 23.0%FPE: +2.0% a year, volatility 6.7%BALT: +6.3% a year, volatility 3.3%NVS: +17.1% a year, volatility 20.7%LDUR: +2.4% a year, volatility 2.1%EMLC: +2.4% a year, volatility 9.1%VTV: +12.1% a year, volatility 13.7%RTX: +18.6% a year, volatility 24.3%VEA: +9.3% a year, volatility 16.9%VRIG: +4.7% a year, volatility 1.3%TJX: +19.9% a year, volatility 22.3%DBA: +10.7% a year, volatility 13.8%AOM: +4.4% a year, volatility 8.3%PG: +5.1% a year, volatility 18.3%LIN: +11.5% a year, volatility 20.9%BTI: +18.7% a year, volatility 22.0%CB: +15.7% a year, volatility 20.4%PBA: +13.8% a year, volatility 21.5%DEO: −11.9% a year, volatility 25.6%SPY (S&P 500): +12.7% a year, volatility 17.1%KO: +14.7% a year, volatility 16.8%MNST: +17.2% a year, volatility 24.9%COST: +17.4% a year, volatility 22.9%PEP: −0.5% a year, volatility 19.1%STZ: −7.8% a year, volatility 25.4%SYY: +3.5% a year, volatility 23.6%CCEP: +19.7% a year, volatility 23.2%KDP: +2.5% a year, volatility 22.1%KOF: +22.3% a year, volatility 24.7%SJM: +4.8% a year, volatility 25.1%AVY: −1.9% a year, volatility 25.1%MDLZ: +4.0% a year, volatility 20.2%ABBV: +26.1% a year, volatility 23.4%V: +12.8% a year, volatility 22.9%MA: +12.4% a year, volatility 23.8%PM: +21.0% a year, volatility 23.4%BIL: +3.7% a year, volatility 0.3%CAH: +42.1% a year, volatility 24.7%SDCI: +20.6% a year, volatility 18.4%BCE: −11.3% a year, volatility 20.0%DXJ: +26.6% a year, volatility 19.1%DEOSPY (S&P 500)KOMNSTCOSTPEPSTZSYYCCEPKDPKOFSJMAVYMDLZABBVVMAPMBILCAHSDCIBCEDXJ−10.0%0.0%10.0%20.0%30.0%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than DEOTD: +15.8% a year, volatility 20.0%MO: +17.8% a year, volatility 21.4%TRV: +22.4% a year, volatility 22.3%COR: +24.2% a year, volatility 22.8%MFC: +22.6% a year, volatility 24.0%BNS: +12.9% a year, volatility 19.9%CTAS: +16.5% a year, volatility 23.1%CME: +11.2% a year, volatility 20.8%ADP: +9.0% a year, volatility 22.9%MSI: +14.8% a year, volatility 23.6%TAK: +11.9% a year, volatility 19.4%ICE: +5.4% a year, volatility 21.8%MDT: −1.8% a year, volatility 22.5%XLV: +8.4% a year, volatility 15.3%RPRX: +13.3% a year, volatility 23.8%BDX: +2.3% a year, volatility 24.1%DGX: +12.3% a year, volatility 22.5%LH: +7.3% a year, volatility 23.8%EWT: +20.4% a year, volatility 24.2%JQUA: +13.6% a year, volatility 15.7%VLUE: +15.9% a year, volatility 18.4%SEIC: +12.7% a year, volatility 22.3%GLD: +17.7% a year, volatility 18.9%THG: +14.4% a year, volatility 22.9%PDBC: +11.7% a year, volatility 19.3%FLTW: +21.8% a year, volatility 24.3%IBB: +6.2% a year, volatility 22.4%IWX: +12.7% a year, volatility 13.8%FLRT: +6.0% a year, volatility 2.3%BND: −0.4% a year, volatility 6.1%VTIP: +2.7% a year, volatility 2.9%DIVB: +13.9% a year, volatility 15.4%RY: +17.3% a year, volatility 18.2%FHLC: +7.3% a year, volatility 15.4%FBT: +10.8% a year, volatility 22.2%CALF: +7.2% a year, volatility 23.0%BSV: +1.7% a year, volatility 2.8%FLOT: +4.5% a year, volatility 1.8%BNDX: +0.2% a year, volatility 4.9%COMT: +13.1% a year, volatility 21.1%SHY: +1.8% a year, volatility 2.0%SPSB: +2.8% a year, volatility 2.0%CHT: +7.7% a year, volatility 13.3%JAAA: +5.1% a year, volatility 1.7%NANR: +17.4% a year, volatility 22.6%NXTG: +16.2% a year, volatility 19.1%AFGD: +0.8% a year, volatility 15.9%MUB: +0.3% a year, volatility 4.2%EIG: +9.1% a year, volatility 23.7%VTI: +11.5% a year, volatility 17.5%FLTR: +4.8% a year, volatility 2.1%RSPH: +6.1% a year, volatility 16.8%FLRN: +4.5% a year, volatility 1.7%VOO: +12.8% a year, volatility 16.9%BKLN: +5.4% a year, volatility 4.5%LMBS: +3.0% a year, volatility 2.6%EBF: +11.2% a year, volatility 21.4%BCAL: +7.5% a year, volatility 22.2%SRLN: +4.7% a year, volatility 3.9%HYG: +3.1% a year, volatility 7.5%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%SVOL: +7.6% a year, volatility 21.8%FTSL: +5.0% a year, volatility 3.4%RAVI: +3.8% a year, volatility 1.4%JPM: +17.3% a year, volatility 24.3%CMS-PB: −2.2% a year, volatility 23.1%MEAR: +2.4% a year, volatility 1.0%SCHP: +0.1% a year, volatility 6.1%JNJ: +12.7% a year, volatility 17.9%LVHI: +17.0% a year, volatility 11.1%VXUS: +8.2% a year, volatility 16.4%QQQ: +14.5% a year, volatility 23.0%FPE: +2.0% a year, volatility 6.7%BALT: +6.3% a year, volatility 3.3%NVS: +17.1% a year, volatility 20.7%LDUR: +2.4% a year, volatility 2.1%EMLC: +2.4% a year, volatility 9.1%VTV: +12.1% a year, volatility 13.7%RTX: +18.6% a year, volatility 24.3%VEA: +9.3% a year, volatility 16.9%VRIG: +4.7% a year, volatility 1.3%TJX: +19.9% a year, volatility 22.3%DBA: +10.7% a year, volatility 13.8%AOM: +4.4% a year, volatility 8.3%PG: +5.1% a year, volatility 18.3%LIN: +11.5% a year, volatility 20.9%BTI: +18.7% a year, volatility 22.0%CB: +15.7% a year, volatility 20.4%PBA: +13.8% a year, volatility 21.5%DEO: −11.9% a year, volatility 25.6%SPY (S&P 500): +12.7% a year, volatility 17.1%KO: +14.7% a year, volatility 16.8%MNST: +17.2% a year, volatility 24.9%COST: +17.4% a year, volatility 22.9%PEP: −0.5% a year, volatility 19.1%STZ: −7.8% a year, volatility 25.4%SYY: +3.5% a year, volatility 23.6%CCEP: +19.7% a year, volatility 23.2%KDP: +2.5% a year, volatility 22.1%KOF: +22.3% a year, volatility 24.7%SJM: +4.8% a year, volatility 25.1%AVY: −1.9% a year, volatility 25.1%MDLZ: +4.0% a year, volatility 20.2%ABBV: +26.1% a year, volatility 23.4%V: +12.8% a year, volatility 22.9%MA: +12.4% a year, volatility 23.8%PM: +21.0% a year, volatility 23.4%BIL: +3.7% a year, volatility 0.3%CAH: +42.1% a year, volatility 24.7%SDCI: +20.6% a year, volatility 18.4%BCE: −11.3% a year, volatility 20.0%DXJ: +26.6% a year, volatility 19.1%DEOSPY (S&P 500)KOMNSTCOSTPEPSTZSYYKOFSJMAVYMDLZABBVPMBILCAHSDCIBCEDXJ
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than DEO?

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

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

Screen the whole market against DEO 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 DEO?lower diversifies moreExpenseper year
DEODiageo plc · this page
−11.9%25.6%-0.37−63.4%+11.7%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.390.09%
Popular alternativesbest 6 shownThe investments people most often weigh against DEO. 8 of 13 passed at least one test.
KOThe Coca-Cola Company · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+14.7%16.8%0.91−37.0%+204%0.46—
MNSTMonster Beverage Corporation · Food & Beverages
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.2%24.9%0.77−30.4%+285%0.32—
COSTCostco Wholesale Corporation · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst decline+17.4%22.9%0.82−31.4%+685%0.32—
PEPPepsiCo, Inc. · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst decline−0.5%19.1%0.07−30.3%+72.6%0.37—
STZConstellation Brands, Inc. · Alcoholic Beverages
Higher return, similar volatilityHigher Sharpe, smaller worst decline−7.8%25.4%-0.19−56.0%−6.6%0.41—
SYYSysco Corporation · Food Distribution
Higher return, lower volatility+3.5%23.6%0.27−63.4%+126%0.30—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Alcoholic Beverages and the categories next to it (Food & Beverages, Packaging), plus DEO's specific themes. 22 of 31 passed at least one test.
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+19.7%23.2%0.90−48.8%+292%0.26—
KDPKeurig Dr Pepper Inc. · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+2.5%22.1%0.23−36.9%+281%0.29—
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+22.3%24.7%0.94−55.1%+119%0.36—
SJMThe J. M. Smucker Company · Packaged Foods
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+4.8%25.1%0.32−38.1%+37.2%0.42—
AVYAvery Dennison Corporation · Packaging
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods−1.9%25.1%0.05−43.5%+182%0.41—
MDLZMondelez International, Inc. · Packaged Foods
Higher return, lower volatilityHigher Sharpe, smaller worst decline+4.0%20.2%0.29−29.8%+93.4%0.33—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,944 of 3,590 passed at least one test.
ABBVAbbVie Inc. · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+26.1%23.4%1.11−45.1%+603%0.16—
VVisa Inc. · Payment Processing
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.8%22.9%0.64−36.4%+429%0.28—
MAMastercard Incorporated · Payment Processing
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.4%23.8%0.61−41.0%+541%0.37—
PMPhilip Morris International Inc. · Tobacco
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+21.0%23.4%0.94−42.9%+242%0.14—
BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF · Treasury Bonds
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+3.7%0.3%14.05−0.2%+25.8%-0.020.14%
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+42.1%24.7%1.55−46.1%+349%0.06—
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+20.6%18.4%1.12−45.7%—0.090.80%
BCEBCE Inc. · Integrated Telecommunications
Similar return, lower volatility−11.3%20.0%-0.51−56.6%−20.1%0.35—
What these numbers mean for DEO
Annual return
DEO lost 11.9% 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 $5,320. 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
DEO's volatility over the past 5 years was 25.6%, 1.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, DEO's return lands within 25.6% 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
DEO's Sharpe ratio over the past 5 years was -0.37, against 0.79 for the S&P 500, so DEO 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
DEO's worst fall from a peak to a low over the past 10 years was 63.4%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 63.4% fall takes a 173% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, DEO's monthly returns had a correlation of 0.39 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against DEO instead: the lower it is, the more that option would diversify a DEO holding. Guide: Correlation and diversification →
Show all 1,166 stocks and funds worth at least $500 million that earned more than DEO 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 DEOExpense
1
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.16—
2
VVisa Inc. · Payment Processing
Whole market+12.8%22.9%0.64−36.4%+429%0.28—
3
MAMastercard Incorporated · Payment Processing
Whole market+12.4%23.8%0.61−41.0%+541%0.37—
4
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.14—
5
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.19—
6
BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF · Treasury Bonds
Whole market+3.7%0.3%14.05−0.2%+25.8%-0.020.14%
7
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%0.14—
8
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.11—
9
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.20—
10
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.29—
11
BNSThe Bank of Nova Scotia · Banks
Whole market+12.9%19.9%0.71−46.9%+187%0.46—
12
CTASCintas Corporation · Business Services
Whole market+16.5%23.1%0.78−48.4%+808%0.34—
13
CMECME Group Inc. · Capital Markets
Whole market+11.2%20.8%0.62−37.4%+319%0.31—
14
ADPAutomatic Data Processing, Inc. · Business Services
Whole market+9.0%22.9%0.49−40.8%+320%0.40—
15
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+14.8%23.6%0.71−32.8%+625%0.36—
16
TAKTakeda Pharmaceutical Company Limited · Pharmaceuticals
Whole market+11.9%19.4%0.68−54.4%+30.4%0.13—
17
ICEIntercontinental Exchange, Inc. · Capital Markets
Whole market+5.4%21.8%0.35−34.3%+240%0.38—
18
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.090.80%
19
MDTMedtronic Plc · Medical Devices
Whole market−1.8%22.5%0.03−45.1%+46.7%0.13—
20
XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity
Whole market+8.4%15.3%0.60−28.4%+202%0.380.08%
21
RPRXRoyalty Pharma plc · Pharmaceuticals
Whole market+13.3%23.8%0.65−49.7%—0.21—
22
BDXBecton, Dickinson and Company · Medical Devices
Whole market+2.3%24.1%0.22−39.9%+71.4%0.39—
23
DGXQuest Diagnostics Incorporated · Medical Diagnostics
Whole market+12.3%22.5%0.63−36.6%+243%0.34—
24
LHLabcorp Holdings Inc. · Medical Diagnostics
Whole market+7.3%23.8%0.42−46.6%+184%0.38—
25
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+20.4%24.2%0.89−38.9%+468%0.230.59%
26
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Whole market+13.6%15.7%0.89−32.9%—0.420.12%
27
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+15.9%18.4%0.90−39.5%+286%0.310.15%
28
KOThe Coca-Cola Company · Food & Beverages
Popular alternative+14.7%16.8%0.91−37.0%+204%0.46—
29
SEICSEI Investments Company · Asset Management
Whole market+12.7%22.3%0.65−51.8%+168%0.39—
30
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Same or nearby category+19.7%23.2%0.90−48.8%+292%0.26—
31
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.270.40%
32
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance
Whole market+14.4%22.9%0.70−40.1%+291%0.00—
33
PDBCInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF · Broad Commodities
Whole market+11.7%19.3%0.67−40.7%+153%-0.010.74%
34
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.240.19%
35
IBBiShares Biotechnology ETF · Biotechnology
Whole market+6.2%22.4%0.38−39.8%+140%0.200.44%
36
IWXiShares Russell Top 200 Value ETF · Broad Market
Whole market+12.7%13.8%0.94−35.8%+221%0.400.20%
37
FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Financials
Whole market+6.0%2.3%2.55−21.0%+58.0%0.170.60%
38
BNDVanguard Total Bond Market ETF · Investment Grade Bonds
Whole market−0.4%6.1%-0.03−18.6%+13.2%0.270.03%
39
VTIPVanguard Short-Term Inflation-Protected Securities ETF · Treasury Bonds
Whole market+2.7%2.9%0.94−6.3%+32.7%0.330.03%
40
KDPKeurig Dr Pepper Inc. · Food & Beverages
Same or nearby category+2.5%22.1%0.23−36.9%+281%0.29—
41
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.410.05%
42
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.33—
43
FHLCFidelity MSCI Health Care Index ETF · Healthcare
Whole market+7.3%15.4%0.53−28.8%+199%0.370.08%
44
FBTFirst Trust NYSE Arca Biotechnology Index Fund · Healthcare
Whole market+10.8%22.2%0.58−33.3%+203%0.220.55%
45
CALFPacer US Small Cap Cash Cows ETF · Broad Market
Whole market+7.2%23.0%0.42−47.5%—0.350.59%
46
BSVVanguard Short-Term Bond ETF · Short-Term Bonds
Whole market+1.7%2.8%0.63−8.5%+20.5%0.310.03%
47
FLOTiShares Floating Rate Bond ETF · Floating Rate Bonds
Whole market+4.5%1.8%2.48−13.5%+35.9%0.060.15%
48
BNDXVanguard Total International Bond ETF · International Bonds
Whole market+0.2%4.9%0.06−16.2%+15.0%0.320.07%
49
COMTiShares GSCI Commodity Dynamic Roll Strategy ETF · Commodities
Whole market+13.1%21.1%0.69−39.2%+160%-0.070.49%
50
SHYiShares 1-3 Year Treasury Bond ETF · Treasury Bonds
Whole market+1.8%2.0%0.89−5.7%+17.7%0.290.15%
51
SPSBState Street SPDR Portfolio Short Term Corporate Bond ETF · Investment Grade Bonds
Whole market+2.8%2.0%1.38−11.8%+29.2%0.320.04%
52
CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications
Whole market+7.7%13.3%0.63−23.8%+101%0.20—
53
JAAAJanus Henderson AAA CLO ETF · CLO Bonds
Whole market+5.1%1.7%2.98−2.6%—0.170.20%
54
NANRState Street SPDR S&P North American Natural Resources ETF · Broad Market
Whole market+17.4%22.6%0.83−49.1%+241%0.230.35%
55
NXTGFirst Trust Indxx NextG ETF · Technology
Whole market+16.2%19.1%0.89−33.6%+330%0.370.70%
56
AFGDAmerican Financial Group, Inc. · Insurance - Property & Casualty
Whole market+0.8%15.9%0.13−27.3%—0.28—
57
MUBiShares National Muni Bond ETF · Municipal Bonds
Whole market+0.3%4.2%0.09−13.7%+17.8%0.250.05%
58
EIGEmployers Holdings, Inc. · Insurance - Specialty
Whole market+9.1%23.7%0.49−43.9%+123%0.10—
59
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.5%17.5%0.71−35.0%+302%0.370.03%
60
FLTRVanEck IG Floating Rate ETF · Multi-Asset
Whole market+4.8%2.1%2.20−17.8%+41.8%-0.030.14%
61
RSPHInvesco S&P 500 Equal Weight Health Care ETF · Healthcare
Whole market+6.1%16.8%0.44−30.4%+177%0.460.40%
62
FLRNState Street SPDR Bloomberg Investment Grade Floating Rate ETF · Bonds
Whole market+4.5%1.7%2.58−14.7%+35.9%0.050.15%
63
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.390.03%
64
BKLNInvesco Senior Loan ETF · Bank Loans
Whole market+5.4%4.5%1.19−24.1%+50.7%0.240.67%
65
LMBSFirst Trust Low Duration Opportunities ETF · Mortgage-Backed Securities
Whole market+3.0%2.6%1.14−6.5%+25.6%0.230.66%
66
EBFEnnis, Inc. · Specialty Business Services
Whole market+11.2%21.4%0.60−35.4%+163%0.08—
67
BCALCalifornia BanCorp · Banks - Regional
Whole market+7.5%22.2%0.44−52.3%+148%0.05—
68
SRLNState Street Blackstone Senior Loan ETF · Bank Loans
Whole market+4.7%3.9%1.18−22.3%+54.2%0.200.70%
69
HYGiShares iBoxx $ High Yield Corporate Bond ETF · High Yield Bonds
Whole market+3.1%7.5%0.45−22.0%+49.5%0.360.49%
70
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.29—
71
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.32—
72
SVOLSimplify Volatility Premium ETF · Dividend & Income
Whole market+7.6%21.8%0.44−33.5%—0.200.66%
73
FTSLFirst Trust Senior Loan Fund · Bonds
Whole market+5.0%3.4%1.49−22.7%+52.1%0.250.70%
74
RAVINorthern Trust Ultra-Short Fixed Income ETF · Bonds
Whole market+3.8%1.4%2.61−3.7%+30.8%0.080.26%
75
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+537%0.07—
76
CMS-PBConsumers Energy Company · Preferred Securities
Whole market−2.2%23.1%0.02−24.0%+20.2%-0.18—
77
MEARiShares Short Maturity Municipal Bond Active ETF · Bonds
Whole market+2.4%1.0%2.37−2.7%+19.3%0.160.26%
78
SCHPSchwab US TIPS ETF · Treasury Bonds
Whole market+0.1%6.1%0.05−14.3%+25.0%0.360.03%
79
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%0.14—
80
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.260.48%
81
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.360.40%
82
VXUSVanguard Total International Stock ETF · International Equity
Whole market+8.2%16.4%0.57−36.0%+140%0.460.05%
83
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.5%23.0%0.71−35.1%+553%0.300.18%
84
FPEFirst Trust Preferred Securities and Income ETF · Preferred Securities
Whole market+2.0%6.7%0.34−33.3%+51.3%0.190.83%
85
BALTInnovator Defined Wealth Shield ETF · Crypto
Whole market+6.3%3.3%1.85−4.9%—0.280.69%
86
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.31—
87
LDURPIMCO Enhanced Low Duration Active Exchange-Traded Fund · Bonds
Whole market+2.4%2.1%1.13−8.7%+26.7%0.190.54%
88
EMLCVanEck J.P. Morgan EM Local Currency Bond ETF · International Bonds
Whole market+2.4%9.1%0.30−26.4%+18.2%0.420.30%
89
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Whole market+12.1%13.7%0.90−36.8%+235%0.350.03%
90
RTXRTX Corporation · Aerospace & Defense
Whole market+18.6%24.3%0.83−52.0%+317%0.11—
91
VEAVanguard FTSE Developed Markets ETF · Developed International Equity
Whole market+9.3%16.9%0.61−35.8%+153%0.470.03%
92
VRIGInvesco Variable Rate Investment Grade ETF · Bonds
Whole market+4.7%1.3%3.51−13.1%+40.5%0.020.30%
93
TJXThe TJX Companies, Inc. · Specialty Retail
Whole market+19.9%22.3%0.93−42.5%+361%0.26—
94
DBAInvesco DB Agriculture Fund · Alternatives
Whole market+10.7%13.8%0.81−35.3%+62.2%0.410.90%
95
AOMiShares Core 40/60 Moderate Allocation ETF · Multi-Asset
Whole market+4.4%8.3%0.56−20.0%+77.8%0.410.20%
96
PGThe Procter & Gamble Company · Household & Personal Products
Whole market+5.1%18.3%0.37−23.8%+145%0.44—
97
LINLinde plc · Chemicals
Whole market+11.5%20.9%0.63−32.6%+394%0.31—
98
BTIBritish American Tobacco p.l.c. · Tobacco
Whole market+18.7%22.0%0.90−56.1%+98.2%0.13—
99
CBChubb Limited · Property & Casualty Insurance
Whole market+15.7%20.4%0.82−42.6%+248%0.07—
100
PBAPembina Pipeline Corporation · Oil & Gas Midstream
Whole market+13.8%21.5%0.71−70.9%+172%0.19—

DEO against its popular alternatives

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

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

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

15.0%20.0%25.0%30.0%35.0%40.0%−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 volatilityDEO: −11.9% a year, volatility 25.6%SPY (S&P 500): 12.7% a year, volatility 17.1%KO: 14.7% a year, volatility 16.8%COST: 17.4% a year, volatility 22.9%MNST: 17.2% a year, volatility 24.9%SYY: 3.5% a year, volatility 23.6%PEP: −0.5% a year, volatility 19.1%BUD: 9.7% a year, volatility 25.0%STZ: −7.8% a year, volatility 25.4%SAM: −18.5% a year, volatility 38.3%BF-B: −14.7% a year, volatility 30.8%MGPI: −24.8% a year, volatility 40.0%ABEV: 9.9% a year, volatility 30.2%CCU: −3.2% a year, volatility 29.3%TAP: 0.9% a year, volatility 26.0%DEOSPY (S&P 500)KOCOSTMNSTSYYPEPBUDSTZSAMBF-BMGPIABEVCCUTAP15.0%20.0%25.0%30.0%35.0%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 volatilityDEO: −11.9% a year, volatility 25.6%SPY (S&P 500): 12.7% a year, volatility 17.1%KO: 14.7% a year, volatility 16.8%COST: 17.4% a year, volatility 22.9%MNST: 17.2% a year, volatility 24.9%SYY: 3.5% a year, volatility 23.6%PEP: −0.5% a year, volatility 19.1%BUD: 9.7% a year, volatility 25.0%STZ: −7.8% a year, volatility 25.4%SAM: −18.5% a year, volatility 38.3%BF-B: −14.7% a year, volatility 30.8%MGPI: −24.8% a year, volatility 40.0%ABEV: 9.9% a year, volatility 30.2%CCU: −3.2% a year, volatility 29.3%TAP: 0.9% a year, volatility 26.0%DEOSPY (S&P 500)COSTSYYPEPBUDSTZSAMBF-BMGPIABEVCCUTAP
All figures
InvestmentAnnual returnVolatility
COST Costco Wholesale Corporation+17.4%22.9%
MNST Monster Beverage Corporation+17.2%24.9%
KO The Coca-Cola Company+14.7%16.8%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
ABEV Ambev S.A.+9.9%30.2%
BUD Anheuser-Busch InBev SA/NV+9.7%25.0%
SYY Sysco Corporation+3.5%23.6%
TAP Molson Coors Beverage Company+0.9%26.0%
PEP PepsiCo, Inc.−0.5%19.1%
CCU Compañía Cervecerías Unidas S.A.−3.2%29.3%
STZ Constellation Brands, Inc.−7.8%25.4%
DEO This pageDiageo plc−11.9%25.6%
BF-B Brown-Forman Corporation−14.7%30.8%
SAM The Boston Beer Company, Inc.−18.5%38.3%
MGPI MGP Ingredients, Inc.−24.8%40.0%
Open these 15 in EasyCompare

Has DEO consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than DEO 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
DEO Diageo plc (this page)—+9.0%+11.5%+15.2%+9.7%−2.4%−32.5%−46.8%+11.7%25.6%-0.37−63.4%—$52B—
KO QualifiedThe Coca-Cola Company4/5 short3/3 longAll-weather+7.3%+14.5%+25.4%+37.9%+40.2%+86.8%+98.2%+204%16.8%0.91−37.0%—$402B—
COST QualifiedCostco Wholesale Corporation3/5 short3/3 long+10.7%+6.5%0.0%+16.9%+6.9%+87.2%+123%+685%22.9%0.82−31.4%—$441B—
MNST QualifiedMonster Beverage Corporation3/5 short3/3 long+6.9%−1.4%+21.8%+23.5%+34.9%+88.2%+121%+285%24.9%0.77−30.4%—$92B—
ABEV QualifiedAmbev S.A.3/5 short2/3 long+11.8%+8.1%+8.9%+35.5%+53.0%+62.0%+60.4%−21.1%30.2%0.46−72.4%—$52B—
SYY Food DistributionSysco Corporation2/5 short3/3 long+6.4%+3.3%+10.2%+16.6%+6.7%+37.6%+18.7%+126%23.6%0.27−63.4%—$41B—
PEP Beverages - Non-AlcoholicPepsiCo, Inc.0/5 short3/3 long+3.4%0.0%−12.8%−2.9%−9.2%−6.7%−2.3%+72.6%19.1%0.07−30.3%—$183B—
BUD Beverages - AlcoholicAnheuser-Busch InBev SA/NV2/5 short2/3 long+6.9%+3.1%+12.3%+32.7%+36.7%+66.6%+58.7%−20.0%25.0%0.50−69.8%—$166B—
CCU Beverages - AlcoholicCompañía Cervecerías Unidas S.A.0/5 short2/3 long−2.2%−3.4%−10.1%−13.5%−12.1%+7.9%−15.1%−19.6%29.3%0.03−61.8%—$2.0B—
TAP Beverages - AlcoholicMolson Coors Beverage Company0/5 short2/3 long+7.0%−2.3%−7.1%−12.3%−9.9%−23.7%+4.6%−51.6%26.0%0.17−67.0%—$7.5B—
STZ Beverages - AlcoholicConstellation Brands, Inc.1/5 short1/3 long+12.1%−0.4%−15.7%−4.0%−3.3%−38.5%−33.2%−6.6%25.4%-0.19−56.0%—$22B—
SAM Beverages - AlcoholicThe Boston Beer Company, Inc.0/5 short1/3 long+7.5%+2.0%−26.3%−7.8%−16.3%−50.1%−64.0%+17.9%38.3%-0.34−87.7%—$1.9B—
BF-B Beverages - Wineries & DistilleriesBrown-Forman Corporation2/5 short0/3 long+7.5%+7.3%−2.3%+10.3%+0.5%−45.0%−54.9%−4.6%30.8%-0.36−68.9%—$13B—
MGPI Beverages - Wineries & DistilleriesMGP Ingredients, Inc.1/5 short0/3 long+13.0%−16.4%−23.2%−35.9%−37.8%−83.8%−76.0%−58.0%40.0%-0.51−89.3%—$324M—
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How did DEO do year by year?

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

InvestmentYears ahead of DEO20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
DEO This pageDiageo plc—−29.3%−10.1%−16.3%−17.4%+41.7%−3.3%+21.4%−0.4%+44.2%−1.9%−1.4%−11.4%+16.3%+37.0%+21.6%+11.0%+27.5%−31.6%+11.7%+40.7%+4.6%+13.8%+25.7%−2.2%+8.1%+44.9%−28.5%+24.9%+38.6%
Rank among alternativesTop quarter in 6 of 2911 of 149 of 1414 of 1412 of 143 of 149 of 149 of 145 of 144 of 1410 of 1412 of 1413 of 1412 of 144 of 142 of 1411 of 146 of 1310 of 139 of 134 of 137 of 138 of 1310 of 136 of 136 of 134 of 1312 of 135 of 137 of 12
SPY S&P 500State Street SPDR S&P 500 ETF13 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
KO The Coca-Cola Company15 of 29+15.6%+8.9%−4.4%+10.6%+11.4%+2.5%+20.6%+6.8%+14.3%−0.3%+5.2%+5.3%+17.2%+6.5%+9.5%+19.0%+30.4%−24.0%+30.4%+23.2%−0.8%−16.2%+18.2%−5.5%−21.9%+6.1%−12.2%+1.3%+27.9%
COST Costco Wholesale Corporation20 of 29−5.4%+39.6%+49.0%−19.1%+51.8%+32.7%+45.7%+10.6%+22.4%+0.3%+18.9%+20.5%+21.9%+28.4%+16.7%+23.7%+14.3%−24.0%+33.2%+7.9%+3.2%+31.1%+32.5%−36.8%+11.1%−12.5%+26.4%+61.8%+77.7%
MNST Monster Beverage Corporation21 of 29+45.9%−8.8%+13.5%+5.7%+3.9%+45.5%+29.1%−22.2%+42.7%−10.7%+37.5%+59.8%+28.1%+14.8%+76.1%+36.3%+14.3%−24.3%+31.2%+72.0%+332%+332%+99.5%+0.5%+8.4%−10.1%−19.8%+197%+70.6%
ABEV Ambev S.A.12 of 28+42.4%−30.1%+8.8%+2.3%−4.7%−32.8%+21.9%−37.7%+33.5%+14.1%−25.3%−11.1%−10.6%+49.9%+15.1%+57.3%+150%−43.8%+57.3%+37.6%−22.8%+155%+64.1%−21.7%−26.1%+123%+23.3%−28.0%—
SYY Sysco Corporation16 of 29−1.0%+7.4%−1.7%−0.3%+8.3%−10.4%+39.6%+5.5%+12.5%+38.8%+5.8%+13.4%+18.9%+11.9%+3.5%+8.0%+26.7%−23.5%−13.2%+21.0%−17.3%+3.7%+26.8%+15.6%−11.7%+53.5%+45.6%+22.1%+41.8%
PEP PepsiCo, Inc.14 of 29−1.8%−7.6%−3.3%+6.8%+20.5%+11.7%+27.4%−4.8%+17.8%+7.8%+8.8%+17.3%+24.6%+6.4%+4.8%+10.7%+14.6%−26.0%+23.8%+7.9%+15.3%+13.8%+12.1%−12.2%−0.6%+42.6%−12.4%+14.3%+25.7%
BUD Anheuser-Busch InBev SA/NV8 of 16+30.5%−21.3%+9.0%+0.1%−12.7%−14.0%+27.7%−38.8%+9.6%−12.7%+14.9%+8.4%+25.6%+46.5%+8.8%+10.9%—————————————
CCU Compañía Cervecerías Unidas S.A.14 of 29+15.9%−6.3%−2.2%−14.3%+26.0%−19.3%−20.8%−12.6%+44.0%−0.9%+19.5%−20.9%−21.2%+25.6%+8.1%+61.6%+51.7%−26.3%+20.9%+18.3%+0.4%+21.1%+59.7%−15.5%−13.2%−31.7%+73.6%−33.6%+81.9%
TAP Molson Coors Beverage Company17 of 29−15.5%−3.4%+22.1%+14.4%+4.1%−15.2%−0.4%−29.9%−14.1%+5.4%+28.7%+35.7%+34.6%+1.3%−10.7%+13.9%−5.7%−3.8%+37.0%+16.4%−9.7%+36.6%−7.0%+16.3%−32.5%+54.9%−5.8%+72.5%+78.4%
STZ Constellation Brands, Inc.18 of 29−36.0%−7.1%+5.8%−6.4%+16.1%+17.4%+19.8%−28.7%+50.7%+8.7%+46.2%+39.5%+98.9%+71.2%−6.7%+39.0%+1.1%−33.3%−18.5%+10.6%+12.8%+41.3%+38.8%+10.7%+46.0%+14.9%−11.7%+4.5%+94.0%
SAM The Boston Beer Company, Inc.15 of 29−34.9%−13.2%+4.9%−34.8%−49.2%+163%+56.9%+26.0%+12.5%−15.9%−30.3%+19.8%+79.8%+23.8%+14.2%+104%+64.1%−24.6%+4.6%+43.9%+17.5%+17.3%+26.9%−16.6%+94.7%+22.5%−15.4%+8.8%−23.8%
BF-B Brown-Forman Corporation16 of 29−29.3%−32.2%−11.9%−8.9%−6.0%+18.7%+43.8%−10.7%+54.9%−8.2%+14.5%+17.7%+21.3%+19.7%+17.8%+34.0%+6.8%−11.4%+17.0%−3.1%+44.7%+6.3%+46.0%+6.6%−4.0%+18.7%−23.0%+39.6%+23.3%
MGPI MGP Ingredients, Inc.15 of 29−37.2%−59.8%−7.0%+25.8%+81.9%−1.5%−14.5%−25.5%+56.3%+93.5%+64.2%+208%+53.2%−31.6%−54.0%+45.3%+1,042%−92.8%−57.6%+93.2%+38.6%+11.4%+106%−31.3%+34.2%+19.8%−45.8%+8.9%−26.5%
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Risk and diversification

How DEO 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 DEO's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents DEO's five deepest drawdowns since it began trading in 1991, 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 DEO fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringDEO fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2022 bear market−63.4%+45.0%Jan 2022Mar 20264.2 yearsNot yet—
2008 financial crisis−53.2%−53.9%Nov 2007Mar 200916 monthsMay 20112.2 years
Dot-com bust−48.0%+17.4%Jul 1998Mar 200020 monthsDec 200121 months
Covid crash−41.1%−23.0%Sep 2019Mar 20206 monthsApr 202113 months
No named crash−34.9%—Jun 1992Nov 199317 monthsApr 19973.4 years

How did DEO do in stock market crashes?

This section measures how far DEO, 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 DEO.

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
DEO This pageDiageo plc—−0.5%−24.7%−36.2%−8.3%−4.9%−12.9%−12.9%−0.8%−53.2%−22.3%
SPY S&P 500State Street SPDR S&P 500 ETF1 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
KO The Coca-Cola Company5 of 10−1.4%−16.7%−37.0%−8.8%−7.8%−8.8%−8.3%0.0%−40.6%−31.3%
COST Costco Wholesale Corporation2 of 10−3.1%−31.4%−13.7%−20.8%−6.5%−15.2%−13.5%−1.2%−48.0%−50.1%
MNST Monster Beverage Corporation1 of 10−2.9%−25.9%−27.6%−20.1%−7.0%−25.7%−14.6%−12.4%−69.2%−50.4%
ABEV Ambev S.A.1 of 10−2.7%−25.8%−42.9%−18.8%−4.4%−30.4%−17.6%0.0%−60.4%−52.7%
SYY Sysco Corporation3 of 10−2.3%−20.8%−59.5%−17.8%−6.8%−6.4%−17.9%−1.5%−43.1%−27.2%
PEP PepsiCo, Inc.6 of 10−0.8%−11.9%−28.3%−12.3%−7.2%−10.2%−8.3%−0.2%−40.4%−33.0%
BUD Anheuser-Busch InBev SA/NV0 of 8−1.3%−33.1%−52.2%−28.1%−7.7%−14.8%−16.2%−2.2%——
CCU Compañía Cervecerías Unidas S.A.2 of 10−5.7%−44.2%−30.3%−13.1%−5.4%−24.8%−19.1%−2.0%−46.0%−53.7%
TAP Molson Coors Beverage Company3 of 10−4.2%−20.7%−36.9%−16.6%−8.5%−12.1%−17.0%−2.0%−43.6%−45.4%
STZ Constellation Brands, Inc.3 of 10−3.8%−16.3%−49.3%−31.1%−3.3%−12.4%−22.5%−5.5%−58.4%−30.2%
SAM The Boston Beer Company, Inc.2 of 10−6.7%−43.9%−28.6%−24.3%−4.0%−36.7%−21.9%−1.4%−59.8%−29.7%
BF-B Brown-Forman Corporation3 of 10−3.1%−16.8%−34.8%−10.5%−5.5%−17.6%−18.0%−1.5%−34.0%−25.5%
MGPI MGP Ingredients, Inc.3 of 10−2.6%−17.2%−32.3%−30.5%−1.2%−21.3%−40.2%−7.3%−95.0%−54.6%
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How closely does DEO 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 DEO 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 DEO's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
DEO This pageDiageo plc46%94%0.480.61
COST Costco Wholesale Corporation93%50%1.850.77
KO The Coca-Cola Company57%44%1.290.47
MNST Monster Beverage Corporation87%87%0.990.80
SYY Sysco Corporation76%100%0.761.02
PEP PepsiCo, Inc.48%65%0.750.48
SAM The Boston Beer Company, Inc.47%90%0.520.81
CCU Compañía Cervecerías Unidas S.A.51%117%0.440.73
STZ Constellation Brands, Inc.48%111%0.440.79
BF-B Brown-Forman Corporation34%80%0.430.56
ABEV Ambev S.A.49%121%0.410.85
BUD Anheuser-Busch InBev SA/NV51%125%0.401.04
MGPI MGP Ingredients, Inc.56%177%0.320.95
TAP Molson Coors Beverage Company23%103%0.230.75
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What diversifies DEO?

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

ETFs

InvestmentCorrelation5Y returnSharpe20252024202320222020201820162015201420082002199980/20 mix volatility80/20 mix annual return
DEO Diageo plc (this page)1.00−46.8%-0.37−29.3%−10.1%−16.3%−17.4%−3.3%−0.4%−1.9%−1.4%−11.4%−31.6%−2.2%−28.5%22.8%−12.9%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.36+119%1.48+27.1%+15.9%+17.4%+3.8%−9.0%−5.2%——————19.0%−7.2%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.26+225%1.34+32.8%+29.8%+42.0%+6.0%+3.9%−19.8%+1.1%+7.7%+8.1%−20.8%——19.1%−5.6%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.17+101%1.04+9.7%+33.4%+8.0%+10.4%−13.4%−8.7%+29.8%−25.3%+23.8%———19.0%−7.3%
HDV Dividend & IncomeiShares Core High Dividend ETF0.31+83.3%1.00+11.9%+14.1%+1.8%+7.1%−6.5%−3.0%+15.9%−0.3%+12.6%———19.3%−7.9%
SMH TechnologyVanEck Semiconductor ETF0.22+323%0.97+49.2%+39.1%+73.4%−33.5%+55.5%−9.1%+35.6%−0.3%+30.2%−44.7%−47.0%—20.9%−3.4%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.41+85.0%0.96+23.1%+13.4%+20.1%−5.1%+2.1%−9.5%+6.3%+4.1%+3.4%———19.3%−7.7%
GLD CommoditiesSPDR Gold Shares0.27+126%0.96+63.7%+26.7%+12.7%−0.8%+24.8%−1.9%+8.0%−10.7%−2.2%+4.9%——19.5%−6.9%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.23+136%0.93+26.6%+45.8%+17.6%−10.4%+28.2%−0.9%+7.4%—————19.6%−6.3%

Stocks

InvestmentCorrelation5Y returnSharpe20252024202320222020201820162015201420082002199980/20 mix volatility80/20 mix annual return
DEO Diageo plc (this page)1.00−46.8%-0.37−29.3%−10.1%−16.3%−17.4%−3.3%−0.4%−1.9%−1.4%−11.4%−31.6%−2.2%−28.5%22.8%−12.9%
CAH Medical - DistributionCardinal Health, Inc.0.06+479%1.55+76.3%+19.0%+34.1%+54.1%+10.1%−24.5%−17.5%+12.6%+23.0%−39.6%−8.3%−36.8%19.3%−3.5%
CLS Hardware, Equipment & PartsCelestica Inc.-0.09+3,143%1.47+220%+215%+160%+1.3%−2.4%−16.3%+7.4%−6.0%+12.9%−20.5%−65.1%+350%20.7%+7.6%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.24+1,636%1.46+121%+107%+79.6%+17.0%+6.7%+0.8%+18.3%+67.7%−10.4%−15.2%−9.4%−58.7%22.2%+3.6%
MCK Medical - DistributionMcKesson Corporation-0.08+413%1.44+44.5%+23.7%+24.1%+51.8%+27.1%−28.4%−28.3%−4.5%+29.3%−40.4%−27.2%−71.3%18.6%−3.9%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.08+690%1.41+19.2%−4.0%+30.4%+86.6%−27.4%−8.2%+0.7%+17.4%+0.4%———19.9%−1.8%
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Common questions

What was DEO's worst drawdown?

DEO's deepest decline since it began trading in 1991 was 63.4%, from January 2022 to March 2026. It has not yet climbed back to that peak.

What were DEO's best and worst years?

Over 29 full calendar years, DEO's best year was 2000, when it returned 44.9%. Its worst was 2008, with a return of -31.6%.

Is there a better investment than DEO?

Among DEO's popular alternatives, KO, COST and PEP earned more than DEO with less volatility over the past 5 years. KO returned 14.7% a year at 16.8% volatility, against a loss of 11.9% a year at 25.6%. Looking beyond its popular alternatives, CCEP (food & beverages) and KDP (food & beverages) earned more than DEO with less volatility over the past 5 years. CCEP returned 19.7% a year at 23.2% volatility, against a loss of 11.9% a year at 25.6%.

Is DEO more volatile than the S&P 500?

Yes. DEO's volatility over the past 5 years was 25.6%, 1.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, DEO's return lands within 25.6% 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 DEO's Sharpe ratio?

DEO's Sharpe ratio over the past 5 years was -0.37, against 0.79 for the S&P 500, so DEO 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 DEO with the S&P 500?

Over the past 5 years, DEO's monthly returns had a correlation of 0.39 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against DEO instead: the lower it is, the more that option would diversify a DEO holding.

What are the best alternatives to DEO?

Of the 13 popular alternatives we compared, four outperformed DEO in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: KO, COST and MNST.

Did DEO outperform the S&P 500?

DEO finished ahead of the S&P 500 (SPY) in 15 of 29 full calendar years. In 2025, it returned -29.3%, against +17.7% for the index.

How did DEO do in stock market crashes?

DEO fell less than the S&P 500 (SPY) in seven of the ten major crashes it has traded through, and further in one. The clearest case was the dot-com bust, when DEO fell 22.3% and the S&P 500 fell 47.5%.

What diversifies DEO?

These had a low correlation with DEO over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.36), DXJ (correlation 0.26) and EMLP (correlation 0.17); among large stocks, CAH (correlation 0.06), CLS (correlation -0.09) and FIX (correlation 0.24). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to DEO

Other stocks and ETFs