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Relative Intelligence · Household & Personal Products

How Estée Lauder Companies (EL) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on EL alone. It places EL (The Estée Lauder Companies Inc.) against 17 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 EL stands in the market, and of the alternatives worth a closer look.

Period covered: EL's full trading record, from November 1995 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 EL →Chart EL vs. 17 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in EL over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of EL over the same span and EL'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. 496 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of EL; 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
  • AMZN$11M+114,749% total · +27.5% a year
  • IPAR$725,262+7,153% total · +15.9% a year
  • CHD$554,277+5,443% total · +14.8% a year
  • TGT$184,797+1,748% total · +10.6% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • ATR$126,600+1,166% total · +9.1% a year
  • EL$109,782+998% total · +8.6% a year
  • CL$89,873+799% total · +7.9% a year
  • PG$87,839+778% total · +7.8% a year
  • M$20,889+109% total · +2.6% a year
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From the end of September 2021 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. 3,403 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of EL; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$20,000$50,000202120222023202420252026$5,000$10,000$20,000$50,000202120222023202420252026
  • TPR$35,288+253% total · +28.7% a year
  • ELF$34,758+248% total · +28.3% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • IPAR$16,792+67.9% total · +10.9% a year
  • AMZN$15,169+51.7% total · +8.7% a year
  • CL$12,718+27.2% total · +4.9% a year
  • CHD$12,116+21.2% total · +3.9% a year
  • PG$11,814+18.1% total · +3.4% a year
  • TGT$8,005−20.0% total · −4.4% a year
  • EL$3,341−66.6% total · −19.7% a year
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EL 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
$38B
Industry
Household & Personal Products
Price history from
November 1995

Returns

Past 1 year
+5.0%total return
Past 3 years
−18.3%−6.5% a year
Past 5 years
−62.3%−17.7% a year
Past 10 years
+39.8%+3.4% a year
Best calendar year
+68.7%2017
Worst calendar year
−47.6%2024
Losing years
9 of 29full calendar years

Risk

Volatility
44.5%typical yearly swing, 5 years
Sharpe ratio
-0.21return per unit of risk, 5 years
Worst decline ever
−85.8%Jan 2022 to Apr 2025
From its all-time high
−69.2%below the peak

EL against the whole market

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

How does EL rank among all stocks?

This section ranks EL 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 EL 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.

MeasureELRankStanding
1-year return+5.0%1,775 of 3,287bottom 47%
3-year return−18.3%2,568 of 3,017bottom 16%
5-year return−62.3%2,532 of 2,893bottom 13%
10-year return+39.8%1,631 of 2,202bottom 27%
Volatility, 5 years44.5%1,680 of 2,893bottom 43%
Sharpe ratio, 5 years-0.212,704 of 2,893bottom 8%
Worst decline, past 10 years−85.8%1,808 of 2,187bottom 18%

What has beaten EL 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). EL sits where the dashed lines cross. Anything in the green box above and to the left earned more than EL 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 EL; faint dots are 92 more of the 2,452 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%−40.0%−20.0%0.0%20.0%40.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than ELLLY: +40.7% a year, volatility 32.8%ABBV: +26.1% a year, volatility 23.4%PBR: +50.3% a year, volatility 37.5%VLO: +44.2% a year, volatility 36.9%PSX: +33.2% a year, volatility 32.9%MSFT: +12.5% a year, volatility 28.2%NEM: +18.6% a year, volatility 39.1%HPE: +32.9% a year, volatility 42.2%ADP: +9.0% a year, volatility 22.9%BRK-B: +13.4% a year, volatility 17.1%ELV: +2.2% a year, volatility 29.4%NTAP: +20.9% a year, volatility 35.3%DINO: +31.8% a year, volatility 38.8%JNJ: +12.7% a year, volatility 17.9%FFIV: +17.1% a year, volatility 30.8%A: +2.6% a year, volatility 30.6%VEEV: −0.1% a year, volatility 39.6%HUM: −0.3% a year, volatility 38.5%IQV: +1.3% a year, volatility 34.7%EXEL: +24.4% a year, volatility 35.8%WDAY: −6.0% a year, volatility 41.7%HALO: +26.6% a year, volatility 40.4%CNC: +0.8% a year, volatility 40.0%HPQ: +5.7% a year, volatility 37.3%MTD: +2.6% a year, volatility 32.5%CACI: +16.6% a year, volatility 29.9%WST: −1.0% a year, volatility 40.7%HAS: +8.0% a year, volatility 33.3%VCTR: +28.1% a year, volatility 35.0%TX: +13.7% a year, volatility 34.8%BBY: +0.7% a year, volatility 38.1%GMAB: −3.1% a year, volatility 34.1%NHC: +32.0% a year, volatility 28.5%MANH: +6.5% a year, volatility 40.2%DT: −3.6% a year, volatility 41.6%RVTY: −2.2% a year, volatility 35.1%CAKE: +25.8% a year, volatility 39.9%DHT: +38.7% a year, volatility 39.0%FLRT: +6.0% a year, volatility 2.3%SGOV: +3.8% a year, volatility 0.3%AAMI: +29.0% a year, volatility 35.6%IT: −7.0% a year, volatility 38.5%T: +9.8% a year, volatility 25.2%MOH: −5.4% a year, volatility 40.6%DBX: +3.9% a year, volatility 34.4%SAIC: +9.9% a year, volatility 30.7%BOX: +10.1% a year, volatility 33.3%HURN: +29.7% a year, volatility 40.7%HAE: +10.7% a year, volatility 41.0%NSIT: +11.8% a year, volatility 33.6%VZ: +2.7% a year, volatility 22.9%RY: +17.3% a year, volatility 18.2%APLE: +9.0% a year, volatility 26.8%HACK: +12.6% a year, volatility 25.8%WM: +9.3% a year, volatility 19.2%ESLT: +39.8% a year, volatility 34.6%IMAX: +20.2% a year, volatility 40.1%PCTY: −10.1% a year, volatility 41.1%ITGR: +6.9% a year, volatility 35.3%OPCH: +4.4% a year, volatility 41.0%PEP: −0.5% a year, volatility 19.1%CRVL: +7.0% a year, volatility 33.2%FAST: +15.8% a year, volatility 24.6%CBZ: +9.3% a year, volatility 36.1%DHR: −3.8% a year, volatility 29.1%MMM: +6.5% a year, volatility 28.8%HWM: +47.3% a year, volatility 32.5%UFCS: +23.7% a year, volatility 39.1%ED: +12.0% a year, volatility 18.8%IDT: +12.3% a year, volatility 38.5%AAPL: +18.5% a year, volatility 28.0%JAAA: +5.1% a year, volatility 1.7%CRAK: +19.8% a year, volatility 20.9%BUG: +7.1% a year, volatility 30.4%CHT: +7.7% a year, volatility 13.3%TNET: −5.2% a year, volatility 38.1%GOOG: +19.0% a year, volatility 32.0%XEL: +6.5% a year, volatility 20.9%KR: +12.3% a year, volatility 27.3%MPLX: +23.5% a year, volatility 18.8%PSA: +3.2% a year, volatility 24.1%WKC: +5.0% a year, volatility 34.5%HYGH: +6.6% a year, volatility 7.1%WCN: +6.1% a year, volatility 20.0%GIC: +5.3% a year, volatility 39.0%NI: +15.1% a year, volatility 20.3%MYE: +12.7% a year, volatility 39.1%BNO: +24.2% a year, volatility 37.1%SPSC: −11.6% a year, volatility 40.6%TSM: +31.5% a year, volatility 38.5%SCSC: +10.5% a year, volatility 36.3%RLJ: +1.2% a year, volatility 32.8%EL: −17.7% a year, volatility 44.5%SPY (S&P 500): +12.7% a year, volatility 17.1%PG: +5.1% a year, volatility 18.3%CL: +7.2% a year, volatility 19.2%CHD: +6.1% a year, volatility 21.1%AMZN: +9.0% a year, volatility 36.6%TPR: +28.1% a year, volatility 40.8%ELF: +31.2% a year, volatility 58.5%ATR: +0.9% a year, volatility 22.6%WMT: +20.8% a year, volatility 22.6%COST: +17.4% a year, volatility 22.9%UL: +5.5% a year, volatility 21.5%EBAY: +11.7% a year, volatility 32.9%FIVE: +3.6% a year, volatility 47.7%TMO: +2.9% a year, volatility 27.8%MPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%SAFT: +10.6% a year, volatility 28.5%CIBR: +14.1% a year, volatility 26.1%GLD: +17.7% a year, volatility 18.9%PANW: +31.9% a year, volatility 43.4%POOL: −16.8% a year, volatility 34.9%INSW: +56.5% a year, volatility 40.5%CAH: +42.1% a year, volatility 24.7%ULTA: +11.0% a year, volatility 34.4%IPAR: +11.6% a year, volatility 33.7%ELSPY (S&P 500)PGCLCHDAMZNTPRELFATRWMTCOSTEBAYFIVETMOMPCPBR-ASAFTGLDPANWPOOLINSWCAH−20.0%0.0%20.0%40.0%60.0%80.0%−40.0%−20.0%0.0%20.0%40.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than ELLLY: +40.7% a year, volatility 32.8%ABBV: +26.1% a year, volatility 23.4%PBR: +50.3% a year, volatility 37.5%VLO: +44.2% a year, volatility 36.9%PSX: +33.2% a year, volatility 32.9%MSFT: +12.5% a year, volatility 28.2%NEM: +18.6% a year, volatility 39.1%HPE: +32.9% a year, volatility 42.2%ADP: +9.0% a year, volatility 22.9%BRK-B: +13.4% a year, volatility 17.1%ELV: +2.2% a year, volatility 29.4%NTAP: +20.9% a year, volatility 35.3%DINO: +31.8% a year, volatility 38.8%JNJ: +12.7% a year, volatility 17.9%FFIV: +17.1% a year, volatility 30.8%A: +2.6% a year, volatility 30.6%VEEV: −0.1% a year, volatility 39.6%HUM: −0.3% a year, volatility 38.5%IQV: +1.3% a year, volatility 34.7%EXEL: +24.4% a year, volatility 35.8%WDAY: −6.0% a year, volatility 41.7%HALO: +26.6% a year, volatility 40.4%CNC: +0.8% a year, volatility 40.0%HPQ: +5.7% a year, volatility 37.3%MTD: +2.6% a year, volatility 32.5%CACI: +16.6% a year, volatility 29.9%WST: −1.0% a year, volatility 40.7%HAS: +8.0% a year, volatility 33.3%VCTR: +28.1% a year, volatility 35.0%TX: +13.7% a year, volatility 34.8%BBY: +0.7% a year, volatility 38.1%GMAB: −3.1% a year, volatility 34.1%NHC: +32.0% a year, volatility 28.5%MANH: +6.5% a year, volatility 40.2%DT: −3.6% a year, volatility 41.6%RVTY: −2.2% a year, volatility 35.1%CAKE: +25.8% a year, volatility 39.9%DHT: +38.7% a year, volatility 39.0%FLRT: +6.0% a year, volatility 2.3%SGOV: +3.8% a year, volatility 0.3%AAMI: +29.0% a year, volatility 35.6%IT: −7.0% a year, volatility 38.5%T: +9.8% a year, volatility 25.2%MOH: −5.4% a year, volatility 40.6%DBX: +3.9% a year, volatility 34.4%SAIC: +9.9% a year, volatility 30.7%BOX: +10.1% a year, volatility 33.3%HURN: +29.7% a year, volatility 40.7%HAE: +10.7% a year, volatility 41.0%NSIT: +11.8% a year, volatility 33.6%VZ: +2.7% a year, volatility 22.9%RY: +17.3% a year, volatility 18.2%APLE: +9.0% a year, volatility 26.8%HACK: +12.6% a year, volatility 25.8%WM: +9.3% a year, volatility 19.2%ESLT: +39.8% a year, volatility 34.6%IMAX: +20.2% a year, volatility 40.1%PCTY: −10.1% a year, volatility 41.1%ITGR: +6.9% a year, volatility 35.3%OPCH: +4.4% a year, volatility 41.0%PEP: −0.5% a year, volatility 19.1%CRVL: +7.0% a year, volatility 33.2%FAST: +15.8% a year, volatility 24.6%CBZ: +9.3% a year, volatility 36.1%DHR: −3.8% a year, volatility 29.1%MMM: +6.5% a year, volatility 28.8%HWM: +47.3% a year, volatility 32.5%UFCS: +23.7% a year, volatility 39.1%ED: +12.0% a year, volatility 18.8%IDT: +12.3% a year, volatility 38.5%AAPL: +18.5% a year, volatility 28.0%JAAA: +5.1% a year, volatility 1.7%CRAK: +19.8% a year, volatility 20.9%BUG: +7.1% a year, volatility 30.4%CHT: +7.7% a year, volatility 13.3%TNET: −5.2% a year, volatility 38.1%GOOG: +19.0% a year, volatility 32.0%XEL: +6.5% a year, volatility 20.9%KR: +12.3% a year, volatility 27.3%MPLX: +23.5% a year, volatility 18.8%PSA: +3.2% a year, volatility 24.1%WKC: +5.0% a year, volatility 34.5%HYGH: +6.6% a year, volatility 7.1%WCN: +6.1% a year, volatility 20.0%GIC: +5.3% a year, volatility 39.0%NI: +15.1% a year, volatility 20.3%MYE: +12.7% a year, volatility 39.1%BNO: +24.2% a year, volatility 37.1%SPSC: −11.6% a year, volatility 40.6%TSM: +31.5% a year, volatility 38.5%SCSC: +10.5% a year, volatility 36.3%RLJ: +1.2% a year, volatility 32.8%EL: −17.7% a year, volatility 44.5%SPY (S&P 500): +12.7% a year, volatility 17.1%PG: +5.1% a year, volatility 18.3%CL: +7.2% a year, volatility 19.2%CHD: +6.1% a year, volatility 21.1%AMZN: +9.0% a year, volatility 36.6%TPR: +28.1% a year, volatility 40.8%ELF: +31.2% a year, volatility 58.5%ATR: +0.9% a year, volatility 22.6%WMT: +20.8% a year, volatility 22.6%COST: +17.4% a year, volatility 22.9%UL: +5.5% a year, volatility 21.5%EBAY: +11.7% a year, volatility 32.9%FIVE: +3.6% a year, volatility 47.7%TMO: +2.9% a year, volatility 27.8%MPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%SAFT: +10.6% a year, volatility 28.5%CIBR: +14.1% a year, volatility 26.1%GLD: +17.7% a year, volatility 18.9%PANW: +31.9% a year, volatility 43.4%POOL: −16.8% a year, volatility 34.9%INSW: +56.5% a year, volatility 40.5%CAH: +42.1% a year, volatility 24.7%ULTA: +11.0% a year, volatility 34.4%IPAR: +11.6% a year, volatility 33.7%ELSPY (S&P 500)PGCLTPRELFATRWMTCOSTFIVETMOMPCPBR-APANWPOOLINSWCAH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than EL?

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

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

Screen the whole market against EL 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 EL?lower diversifies moreExpenseper year
ELThe Estée Lauder Companies Inc. · this page
−17.7%44.5%-0.21−85.8%+39.8%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 EL. 9 of 15 passed at least one test.
PGThe Procter & Gamble Company · Household & Personal Products
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+5.1%18.3%0.37−23.8%+145%0.26—
CLColgate-Palmolive Company · Household & Personal Products
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+7.2%19.2%0.46−29.0%+68.8%0.29—
CHDChurch & Dwight Co., Inc. · Household & Personal Products
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+6.1%21.1%0.39−31.7%+154%0.38—
AMZNAmazon.com, Inc. · E-Commerce
Higher return, lower volatilityHigher Sharpe, smaller worst decline+9.0%36.6%0.42−56.1%+548%0.32—
TPRTapestry, Inc. · Luxury Goods
Higher return, lower volatilityHigher Sharpe, smaller worst decline+28.1%40.8%0.82−78.9%+328%0.40—
ELFe.l.f. Beauty, Inc. · Household & Personal Products
Higher Sharpe, smaller worst declineHigher return in most periods+31.2%58.5%0.77−77.3%+331%0.30—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Household & Personal Products and the categories next to it (Discount Retail, Packaging, Consumer Health, E-Commerce), plus EL's specific themes. 25 of 31 passed at least one test.
ATRAptarGroup, Inc. · Packaging
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+0.9%22.6%0.15−39.8%+89.0%0.17—
WMTWalmart Inc. · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst decline+20.8%22.6%0.96−25.7%+508%0.03—
COSTCostco Wholesale Corporation · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst decline+17.4%22.9%0.82−31.4%+685%0.16—
ULUnilever PLC · Household & Personal Products
Higher return, lower volatilityHigher Sharpe, smaller worst decline+5.5%21.5%0.36−30.1%+89.8%0.36—
EBAYeBay Inc. · E-Commerce
Higher return, lower volatilityHigher Sharpe, smaller worst decline+11.7%32.9%0.50−53.6%+374%0.46—
FIVEFive Below, Inc. · Discount Retail
Higher return, similar volatilityHigher Sharpe, smaller worst decline+3.6%47.7%0.32−76.4%+493%0.44—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 2,920 of 3,589 passed at least one test.
TMOThermo Fisher Scientific Inc. · Life Sciences Tools
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+2.9%27.8%0.24−40.9%+366%0.55—
MPCMarathon Petroleum Corporation · Oil & Gas
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+51.2%33.4%1.41−79.7%+1,387%0.09—
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+51.8%37.5%1.31−71.7%+768%0.03—
SAFTSafety Insurance Group, Inc. · Insurance - Property & Casualty
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+10.6%28.5%0.49−32.8%+138%0.03—
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+14.1%26.1%0.64−33.9%+454%0.250.58%
GLDSPDR Gold Shares · Gold
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+17.7%18.9%0.96−26.4%+213%0.320.40%
PANWPalo Alto Networks, Inc. · Cybersecurity
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+31.9%43.4%0.86−48.0%+1,274%0.00—
POOLPool Corporation · Industrial Distribution
Similar return, lower volatility−16.8%34.9%-0.35−71.4%+113%0.37—
What these numbers mean for EL
Annual return
EL lost 17.7% 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 $3,770. 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
EL's volatility over the past 5 years was 44.5%, 2.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, EL's return lands within 44.5% 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
EL's Sharpe ratio over the past 5 years was -0.21, against 0.79 for the S&P 500, so EL 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
EL's worst fall from a peak to a low over the past 10 years was 85.8%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 85.8% fall takes a 605% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, EL'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 EL instead: the lower it is, the more that option would diversify a EL holding. Guide: Correlation and diversification →
Show all 2,452 stocks and funds worth at least $500 million that earned more than EL 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 ELExpense
1
TMOThermo Fisher Scientific Inc. · Life Sciences Tools
Whole market+2.9%27.8%0.24−40.9%+366%0.55—
2
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%0.09—
3
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+51.8%37.5%1.31−71.7%+768%0.03—
4
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.04—
5
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.02—
6
PBRPetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+50.3%37.5%1.28−75.3%+674%0.02—
7
INSWInternational Seaways, Inc. · Oil & Gas
Whole market+56.5%40.5%1.31−57.4%—-0.01—
8
VLOValero Energy Corporation · Oil & Gas
Whole market+44.2%36.9%1.18−71.9%+1,061%0.08—
9
PSXPhillips 66 · Oil & Gas
Whole market+33.2%32.9%1.04−64.2%+430%0.06—
10
SAFTSafety Insurance Group, Inc. · Insurance - Property & Casualty
Whole market+10.6%28.5%0.49−32.8%+138%0.03—
11
MSFTMicrosoft Corporation · Software
Whole market+12.5%28.2%0.56−37.1%+946%0.40—
12
NEMNewmont Corporation · Gold Mining
Whole market+18.6%39.1%0.63−62.4%+304%0.39—
13
HPEHewlett Packard Enterprise Company · Computer Hardware
Whole market+32.9%42.2%0.89−56.9%+483%0.29—
14
ADPAutomatic Data Processing, Inc. · Business Services
Whole market+9.0%22.9%0.49−40.8%+320%0.25—
15
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.00—
16
ELVElevance Health Inc. · Managed Health Care
Whole market+2.2%29.4%0.23−50.4%+307%0.16—
17
NTAPNetApp, Inc. · Computer Hardware
Whole market+20.9%35.3%0.71−58.1%+691%0.25—
18
DINOHF Sinclair Corporation · Oil & Gas
Whole market+31.8%38.8%0.91−77.3%+649%0.10—
19
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%0.10—
20
FFIVF5, Inc. · Cybersecurity
Whole market+17.1%30.8%0.67−54.6%+287%0.18—
21
AAgilent Technologies, Inc. · Life Sciences Tools
Whole market+2.6%30.6%0.24−43.2%+306%0.55—
22
VEEVVeeva Systems Inc. · Application Software
Whole market−0.1%39.6%0.19−55.7%+715%0.39—
23
HUMHumana Inc. · Managed Health Care
Whole market−0.3%38.5%0.19−69.9%+166%0.17—
24
IQVIQVIA Holdings Inc. · Contract Research
Whole market+1.3%34.7%0.21−51.5%+260%0.51—
25
EXELExelixis, Inc. · Biotechnology
Whole market+24.4%35.8%0.79−57.2%+448%-0.09—
26
WDAYWorkday, Inc. · Enterprise Software
Whole market−6.0%41.7%0.06−63.4%+132%0.23—
27
HALOHalozyme Therapeutics, Inc. · Biotechnology
Whole market+26.6%40.4%0.79−49.1%+1,196%0.17—
28
CNCCentene Corp. · Managed Health Care
Whole market+0.8%40.0%0.24−74.1%+129%0.23—
29
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Whole market+14.1%26.1%0.64−33.9%+454%0.250.58%
30
HPQHP Inc. · Computer Hardware
Whole market+5.7%37.3%0.33−51.2%+207%0.23—
31
MTDMettler-Toledo International Inc. · Life Sciences Tools
Whole market+2.6%32.5%0.24−43.5%+298%0.49—
32
CACICACI International Inc · Business Services
Whole market+16.6%29.9%0.66−42.9%+499%0.19—
33
WSTWest Pharmaceutical Services, Inc. · Medical Supplies
Whole market−1.0%40.7%0.19−59.3%+455%0.29—
34
HASHasbro, Inc. · Toys & Games
Whole market+8.0%33.3%0.40−63.8%+85.0%0.31—
35
VCTRVictory Capital Holdings, Inc. · Asset Management
Whole market+28.1%35.0%0.89−45.2%—0.34—
36
TXTernium S.A. · Metals & Mining
Whole market+13.7%34.8%0.54−74.9%+393%0.54—
37
BBYBest Buy Co., Inc. · Specialty Retail
Whole market+0.7%38.1%0.21−52.6%+242%0.29—
38
GMABGenmab A/S · Biotechnology
Whole market−3.1%34.1%0.08−63.1%+130%0.22—
39
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.320.40%
40
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.05—
41
MANHManhattan Associates, Inc. · Enterprise Software
Whole market+6.5%40.2%0.36−61.0%+344%0.22—
42
DTDynatrace, Inc. · Application Software
Whole market−3.6%41.6%0.12−61.8%—0.11—
43
RVTYRevvity, Inc. · Life Sciences Tools
Whole market−2.2%35.1%0.11−59.0%+203%0.48—
44
CAKEThe Cheesecake Factory Incorporated · Restaurants
Whole market+25.8%39.9%0.78−75.6%+187%0.28—
45
DHTDHT Holdings, Inc. · Marine Shipping
Whole market+38.7%39.0%1.04−39.7%+1,050%0.05—
46
FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Financials
Whole market+6.0%2.3%2.55−21.0%+58.0%0.300.60%
47
SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds
Whole market+3.8%0.3%13.25−0.3%—-0.030.09%
48
AAMIAcadian Asset Management · Asset Management
Whole market+29.0%35.6%0.90−78.1%+652%0.32—
49
ITGartner, Inc. · IT Services
Whole market−7.0%38.5%0.01−77.2%+152%0.20—
50
TAT&T Inc. · Integrated Telecommunications
Whole market+9.8%25.2%0.50−39.4%+60.7%0.05—
51
MOHMolina Healthcare, Inc. · Managed Health Care
Whole market−5.4%40.6%0.07−70.8%+277%0.05—
52
DBXDropbox, Inc. · Application Software
Whole market+3.9%34.4%0.29−62.6%—0.13—
53
SAICScience Applications International Corporation · Business Services
Whole market+9.9%30.7%0.46−45.9%+135%0.08—
54
BOXBox, Inc. · Enterprise Software
Whole market+10.1%33.3%0.46−68.6%+176%0.13—
55
HURNHuron Consulting Group Inc. · Consulting Services
Whole market+29.7%40.7%0.84−51.4%+221%0.07—
56
HAEHaemonetics Corporation · Medical Devices
Whole market+10.7%41.0%0.45−68.6%+241%0.21—
57
NSITInsight Enterprises, Inc. · IT Services
Whole market+11.8%33.6%0.50−71.4%+393%0.36—
58
VZVerizon Communications Inc. · Integrated Telecommunications
Whole market+2.7%22.9%0.23−41.2%+55.8%0.16—
59
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.30—
60
APLEApple Hospitality REIT, Inc. · Hotel REITs
Whole market+9.0%26.8%0.46−71.9%+68.3%0.19—
61
HACKAmplify Cybersecurity ETF · Technology
Whole market+12.6%25.8%0.59−38.7%+373%0.230.60%
62
WMWaste Management, Inc. · Environmental Services
Whole market+9.3%19.2%0.56−30.1%+344%0.10—
63
ESLTElbit Systems Ltd. · Aerospace & Defense
Whole market+39.8%34.6%1.15−35.4%+765%0.04—
64
IMAXIMAX Corporation · Entertainment
Whole market+20.2%40.1%0.66−79.4%+65.3%0.16—
65
PCTYPaylocity Holding Corporation · Application Software
Whole market−10.1%41.1%-0.06−68.9%+288%0.20—
66
ITGRInteger Holdings Corporation · Medical Devices
Whole market+6.9%35.3%0.37−56.1%+557%0.15—
67
OPCHOption Care Health, Inc. · Health Care Services
Whole market+4.4%41.0%0.31−66.7%+165%0.41—
68
PEPPepsiCo, Inc. · Food & Beverages
Whole market−0.5%19.1%0.07−30.3%+72.6%0.29—
69
CRVLCorVel Corporation · Insurance
Whole market+7.0%33.2%0.37−64.2%+594%0.20—
70
FASTFastenal Company · Industrial Distribution
Whole market+15.8%24.6%0.72−30.7%+576%0.14—
71
CBZCBIZ, Inc. · Specialty Business Services
Whole market+9.3%36.1%0.43−71.6%+392%0.19—
72
DHRDanaher Corporation · Life Sciences Tools
Whole market−3.8%29.1%0.01−43.8%+232%0.42—
73
MMM3M Company · Industrial Conglomerates
Whole market+6.5%28.8%0.36−57.4%+76.0%0.32—
74
HWMHowmet Aerospace Inc. · Aerospace & Defense
Whole market+47.3%32.5%1.36−68.9%+1,028%0.23—
75
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.13—
76
UFCSUnited Fire Group, Inc. · Insurance - Property & Casualty
Whole market+23.7%39.1%0.74−64.5%+86.7%0.16—
77
EDConsolidated Edison, Inc. · Electric Utilities
Whole market+12.0%18.8%0.70−30.9%+114%0.07—
78
IDTIDT Corporation · Telecommunications Services
Whole market+12.3%38.5%0.49−77.1%+429%0.08—
79
AAPLApple Inc. · Computer Hardware
Whole market+18.5%28.0%0.75−38.5%+1,168%0.18—
80
JAAAJanus Henderson AAA CLO ETF · CLO Bonds
Whole market+5.1%1.7%2.98−2.6%—0.220.20%
81
CRAKVanEck Oil Refiners ETF · Energy
Whole market+19.8%20.9%0.97−58.8%+336%0.280.61%
82
BUGGlobal X - Cybersecurity ETF · Technology
Whole market+7.1%30.4%0.38−41.7%—0.190.50%
83
CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications
Whole market+7.7%13.3%0.63−23.8%+101%0.35—
84
TNETTriNet Group, Inc. · Staffing & Employment Services
Whole market−5.2%38.1%0.05−74.0%+277%0.28—
85
GOOGAlphabet Inc. · Internet Services
Whole market+19.0%32.0%0.71−44.6%+752%0.26—
86
XELXcel Energy Inc. · Electric Utilities
Whole market+6.5%20.9%0.41−34.4%+156%0.08—
87
KRThe Kroger Co. · Grocery Stores
Whole market+12.3%27.3%0.56−43.8%+151%0.06—
88
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.16—
89
PSAPublic Storage · Self-Storage REITs
Whole market+3.2%24.1%0.25−37.9%+107%0.26—
90
WKCWorld Kinect Corporation · Oil & Gas Refining & Marketing
Whole market+5.0%34.5%0.32−57.9%−6.6%0.28—
91
HYGHiShares Interest Rate Hedged High Yield Bond ETF · Bonds
Whole market+6.6%7.1%0.94−23.9%+74.5%0.291.12%
92
WCNWaste Connections, Inc. · Environmental Services
Whole market+6.1%20.0%0.40−31.6%+270%0.10—
93
GICGlobal Industrial Co · Industrial - Distribution
Whole market+5.3%39.0%0.33−55.7%+995%0.24—
94
NINiSource Inc · Gas Utilities
Whole market+15.1%20.3%0.80−30.9%+158%0.12—
95
MYEMyers Industries, Inc. · Packaging & Containers
Whole market+12.7%39.1%0.50−70.0%+254%0.27—
96
BNOUnited States Brent Oil Fund LP · Commodities
Whole market+24.2%37.1%0.77−75.2%+348%-0.131.15%
97
SPSCSPS Commerce, Inc. · Software - Application
Whole market−11.6%40.6%-0.10−76.8%+157%0.21—
98
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Whole market+31.5%38.5%0.91−56.6%+1,505%0.31—
99
SCSCScanSource, Inc. · Technology Distributors
Whole market+10.5%36.3%0.46−67.5%+67.8%0.23—
100
RLJRLJ Lodging Trust · REIT - Hotel & Motel
Whole market+1.2%32.8%0.20−79.5%−8.9%0.24—

EL against its popular alternatives

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

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

Green points earned more than EL 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%−40.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityEL: −17.7% a year, volatility 44.5%SPY (S&P 500): 12.7% a year, volatility 17.1%CHD: 6.1% a year, volatility 21.1%AMZN: 9.0% a year, volatility 36.6%IPAR: 11.6% a year, volatility 33.7%TGT: −6.5% a year, volatility 36.1%PG: 5.1% a year, volatility 18.3%CL: 7.2% a year, volatility 19.2%ULTA: 11.0% a year, volatility 34.4%TPR: 28.1% a year, volatility 40.8%HLF: −21.3% a year, volatility 61.2%BBWI: −19.2% a year, volatility 51.7%NUS: −32.0% a year, volatility 47.5%ELF: 31.2% a year, volatility 58.5%M: 1.5% a year, volatility 52.4%COTY: −16.1% a year, volatility 45.3%USNA: −31.8% a year, volatility 40.4%ELSPY (S&P 500)CHDAMZNIPARTGTPGCLULTATPRHLFBBWINUSELFMCOTYUSNA10.0%20.0%30.0%40.0%50.0%60.0%70.0%−40.0%−20.0%0.0%20.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityEL: −17.7% a year, volatility 44.5%SPY (S&P 500): 12.7% a year, volatility 17.1%CHD: 6.1% a year, volatility 21.1%AMZN: 9.0% a year, volatility 36.6%IPAR: 11.6% a year, volatility 33.7%TGT: −6.5% a year, volatility 36.1%PG: 5.1% a year, volatility 18.3%CL: 7.2% a year, volatility 19.2%ULTA: 11.0% a year, volatility 34.4%TPR: 28.1% a year, volatility 40.8%HLF: −21.3% a year, volatility 61.2%BBWI: −19.2% a year, volatility 51.7%NUS: −32.0% a year, volatility 47.5%ELF: 31.2% a year, volatility 58.5%M: 1.5% a year, volatility 52.4%COTY: −16.1% a year, volatility 45.3%USNA: −31.8% a year, volatility 40.4%ELSPY (S&P 500)CHDAMZNTGTPGTPRHLFBBWINUSELFMCOTYUSNA
All figures
InvestmentAnnual returnVolatility
ELF e.l.f. Beauty, Inc.+31.2%58.5%
TPR Tapestry, Inc.+28.1%40.8%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
IPAR Inter Parfums, Inc.+11.6%33.7%
ULTA Ulta Beauty, Inc.+11.0%34.4%
AMZN Amazon.com, Inc.+9.0%36.6%
CL Colgate-Palmolive Company+7.2%19.2%
CHD Church & Dwight Co., Inc.+6.1%21.1%
PG The Procter & Gamble Company+5.1%18.3%
M Macy's, Inc.+1.5%52.4%
TGT Target Corporation−6.5%36.1%
COTY Coty Inc.−16.1%45.3%
EL This pageThe Estée Lauder Companies Inc.−17.7%44.5%
BBWI Bath & Body Works, Inc.−19.2%51.7%
HLF Herbalife Nutrition Ltd.−21.3%61.2%
USNA USANA Health Sciences, Inc.−31.8%40.4%
NUS Nu Skin Enterprises, Inc.−32.0%47.5%
Open these 17 in EasyCompare

Has EL consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than EL 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
EL The Estée Lauder Companies Inc. (this page)—+10.2%+27.3%+37.3%+0.4%+5.0%−18.3%−62.3%+39.8%44.5%-0.21−85.8%—$38B—
ELF Qualifiede.l.f. Beauty, Inc.4/5 short3/3 longAll-weather+17.3%+44.1%+67.7%+47.5%−10.0%+12.6%+289%+331%58.5%0.77−77.3%—$6.8B—
CHD QualifiedChurch & Dwight Co., Inc.3/5 short3/3 long+11.0%+8.7%+10.4%+29.4%+21.9%+21.9%+34.6%+154%21.1%0.39−31.7%—$25B—
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—
IPAR Household & Personal ProductsInter Parfums, Inc.2/5 short3/3 long+2.8%−6.2%+20.0%+38.9%+21.2%+1.3%+72.8%+350%33.7%0.49−54.9%—$3.7B—
TGT Discount StoresTarget Corporation2/5 short3/3 long−2.4%+11.2%+20.3%+57.4%+75.1%+58.0%−28.5%+207%36.1%0.00−64.4%—$70B—
PG Household & Personal ProductsThe Procter & Gamble Company2/5 short3/3 long+9.1%+7.7%+12.0%+14.9%+8.0%+15.8%+28.3%+145%18.3%0.37−23.8%—$370B—
CL Household & Personal ProductsColgate-Palmolive Company2/5 short3/3 long+10.2%+3.4%+14.5%+24.6%+22.9%+38.3%+41.8%+68.8%19.2%0.46−29.0%—$75B—
ULTA Specialty RetailUlta Beauty, Inc.1/5 short3/3 long+8.1%+23.5%+5.4%−2.8%+15.1%+62.1%+68.3%+137%34.4%0.48−64.9%—$26B—
TPR Luxury GoodsTapestry, Inc.0/5 short3/3 long+3.9%−16.4%−23.0%−8.1%+2.3%+346%+245%+328%40.8%0.82−78.9%—$23B—
M Department StoresMacy's, Inc.2/5 short2/3 long+5.5%+1.3%+19.3%+5.7%+34.8%+131%+7.7%+0.7%52.4%0.29−87.8%—$6.1B—
HLF Packaged FoodsHerbalife Nutrition Ltd.3/5 short1/3 long+15.5%+12.3%−18.9%+7.4%+59.7%−3.0%−69.7%−56.0%61.2%-0.09−91.7%—$1.4B—
ODD Household & Personal ProductsOddity Tech Ltd.3/5 short1/3 long+28.6%+44.4%+59.6%−40.4%−54.4%−13.0%————−87.3%—$1.3B—
COTY Household & Personal ProductsCoty Inc.2/5 short1/3 long+28.3%+19.3%+35.9%+3.5%−22.0%−66.1%−58.3%−84.3%45.3%-0.16−91.0%—$2.8B—
KVUE Household & Personal ProductsKenvue Inc.2/5 short1/3 long+9.1%+3.7%+13.5%+16.6%+36.7%+12.0%————−44.1%—$37B—
BBWI Specialty RetailBath & Body Works, Inc.2/5 short0/3 long+21.5%+1.2%+0.4%+2.1%−16.8%−27.8%−65.6%−51.0%51.7%-0.16−85.2%—$4.1B—
USNA Packaged FoodsUSANA Health Sciences, Inc.0/5 short0/3 long+1.6%−34.3%−28.7%−24.3%−28.8%−73.7%−85.2%−80.0%40.4%-0.73−90.6%—$272M—
NUS Household & Personal ProductsNu Skin Enterprises, Inc.0/5 short0/3 long+6.4%−5.3%−34.9%−47.1%−52.3%−71.8%−85.5%−89.2%47.5%-0.58−93.0%—$242M—
Open these 18 in EasyCompare

How did EL do year by year?

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

InvestmentYears ahead of EL20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
EL This pageThe Estée Lauder Companies Inc.—+42.1%−47.6%−40.1%−32.3%+40.0%+29.8%+60.3%+3.4%+68.7%−11.9%+17.0%+2.3%+27.2%+7.9%+40.5%+68.5%+58.1%−27.6%+8.2%+23.3%−26.0%+17.7%+49.9%−17.5%−26.5%−12.7%+18.4%+67.1%+1.7%
Rank among alternativesTop quarter in 5 of 294 of 1816 of 1815 of 1611 of 166 of 166 of 164 of 1610 of 161 of 1613 of 157 of 1510 of 159 of 1410 of 145 of 144 of 149 of 145 of 145 of 136 of 1312 of 137 of 126 of 1210 of 1211 of 124 of 118 of 112 of 118 of 10
SPY S&P 500State Street SPDR S&P 500 ETF12 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%
ELF e.l.f. Beauty, Inc.5 of 9−39.4%−13.0%+161%+66.5%+31.8%+56.2%+86.3%−61.2%−22.9%————————————————————
CHD Church & Dwight Co., Inc.16 of 29−18.9%+12.0%+18.7%−20.4%+18.9%+25.5%+8.3%+33.2%+15.3%+5.7%+9.4%+21.2%+26.0%+19.3%+34.8%+15.4%+8.7%+4.4%+27.6%+30.0%−0.9%+28.1%+31.3%+15.2%+21.3%−15.3%+50.0%+29.7%+25.0%
AMZN Amazon.com, Inc.15 of 28+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%−16.0%+178%+74.6%−30.5%−79.6%+42.2%+968%—
IPAR Inter Parfums, Inc.16 of 29−33.6%−6.5%+52.0%−7.4%+79.0%−16.2%+12.7%+53.3%+35.1%+40.3%−11.6%−22.1%+89.6%+27.3%−15.9%+57.4%+60.9%−35.1%−5.5%+7.6%+14.1%−29.2%+194%+4.2%+26.0%+41.0%+55.4%−11.0%+5.4%
TGT Target Corporation14 of 29−24.5%−2.3%−1.4%−34.2%+32.9%+40.5%+100%+4.7%−5.8%+2.7%−1.6%+23.8%+9.5%+18.2%−13.0%+26.3%+42.4%−30.0%−11.6%+4.7%+6.6%+36.1%+29.0%−26.5%+28.0%−11.5%+36.2%+62.2%+74.2%
PG The Procter & Gamble Company12 of 29−12.3%+17.3%−0.9%−5.1%+20.5%+14.2%+39.7%+3.6%+12.7%+9.3%−10.0%+15.4%+23.6%+5.2%+7.0%+9.3%+1.2%−13.8%+16.7%+13.4%+7.2%+12.4%+18.5%+11.4%+3.1%−27.1%+21.6%+16.0%+50.5%
CL Colgate-Palmolive Company14 of 29−11.0%+16.6%+3.8%−5.5%+2.1%+27.2%+18.6%−19.2%+17.9%+0.4%−1.6%+8.4%+27.6%+15.9%+18.1%+0.4%+22.9%−10.1%+22.0%+21.5%+9.6%+4.1%−3.0%−8.0%−9.4%+0.4%+41.6%+28.0%+62.3%
ULTA Ulta Beauty, Inc.12 of 18+39.1%−11.2%+4.5%+13.8%+43.6%+13.4%+3.4%+9.5%−12.3%+37.8%+44.7%+32.5%−1.8%+53.0%+91.0%+87.2%+119%−51.7%———————————
TPR Tapestry, Inc.12 of 25+98.7%+82.8%+0.1%−3.3%+32.3%+16.8%−15.9%−21.4%+30.5%+10.8%−9.3%−30.7%+3.6%−7.4%+11.9%+53.3%+77.2%−32.1%−28.8%+28.8%+18.2%+49.3%+130%+68.9%+35.6%————
M Macy's, Inc.15 of 29+36.4%−12.4%+1.6%−18.7%+136%−31.1%−38.2%+23.6%−25.3%+6.5%−45.4%+25.6%+39.6%+23.8%+28.8%+52.4%+64.5%−58.7%−31.1%+16.6%+16.1%+23.9%+65.3%−29.7%+16.8%−30.8%+16.1%+1.2%+26.2%
HLF Herbalife Nutrition Ltd.10 of 21+92.7%−56.2%+2.5%−63.6%−14.8%+0.8%−19.1%+74.1%+40.7%−10.2%+42.2%−51.9%+145%−34.8%+53.0%+71.5%+93.2%−44.7%+1.7%+23.6%+100%————————
ODD Oddity Tech Ltd.1 of 2−4.4%−9.7%———————————————————————————
COTY Coty Inc.7 of 12−55.8%−44.0%+45.1%−18.5%+49.6%−36.9%+79.2%−65.7%+11.7%−27.4%+25.2%+37.1%—————————————————
KVUE Kenvue Inc.1 of 2−15.8%+3.1%———————————————————————————
BBWI Bath & Body Works, Inc.18 of 29−46.5%−8.3%+4.7%−38.4%+134%+108%−25.3%−54.3%−3.9%−25.4%+18.5%+48.7%+34.5%+30.0%+45.6%+87.9%+102%−44.5%−32.6%+32.4%−0.2%+38.8%+33.4%−3.8%−12.0%−20.2%+60.5%+16.8%+42.4%
USNA USANA Health Sciences, Inc.14 of 29−45.3%−33.0%+0.8%−47.4%+31.3%−1.8%−33.3%+59.0%+21.0%−4.2%+24.6%+35.7%+129%+8.4%−30.1%+36.2%−6.8%−7.7%−28.2%+34.7%+12.2%+11.8%+408%+895%−19.3%−70.0%−50.6%+11.5%+0.9%
NUS Nu Skin Enterprises, Inc.9 of 29+43.3%−63.7%−51.0%−13.9%−4.3%+38.7%−31.0%−8.3%+46.5%+30.5%−10.4%−67.5%+280%−22.4%+63.0%+14.6%+165%−34.5%−7.6%+6.2%−29.6%+50.5%+46.4%+39.6%+69.4%−41.4%−61.7%+29.5%−40.9%
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Risk and diversification

How EL 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 EL's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents EL's five deepest drawdowns since it began trading in 1995, 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 EL fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringEL fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2022 bear market−85.8%+9.0%Jan 2022Apr 20253.3 yearsNot yet—
2008 financial crisis−62.1%−45.6%Sep 2008Mar 20096 monthsJan 201010 months
Dot-com bust−53.3%−35.6%Jul 1999Dec 20023.4 yearsSep 20085.8 years
Covid crash−34.2%−32.4%Jan 2020Mar 20202 monthsAug 20205 months
No named crash−33.0%−11.8%Apr 1998Oct 19986 monthsNov 19981 month

How did EL do in stock market crashes?

This section measures how far EL, 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 EL.

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
EL This pageThe Estée Lauder Companies Inc.—−5.4%−42.0%−32.1%−19.8%−4.2%−16.1%−21.5%−3.7%−62.1%−50.7%
SPY S&P 500State Street SPDR S&P 500 ETF7 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
ELF e.l.f. Beauty, Inc.1 of 5−6.0%−35.3%−58.4%−41.7%−4.8%—————
CHD Church & Dwight Co., Inc.10 of 100.0%−31.7%−21.1%−9.4%−1.1%−13.3%−12.4%−1.5%−28.0%−23.6%
AMZN Amazon.com, Inc.5 of 10−3.4%−39.6%−22.7%−33.2%−7.1%−30.6%−20.7%−2.9%−65.3%−91.8%
IPAR Inter Parfums, Inc.4 of 10−1.6%−37.9%−49.1%−13.7%−4.4%−25.9%−38.2%−3.0%−80.9%−52.1%
TGT Target Corporation7 of 10−3.4%−43.9%−21.7%−30.3%−3.0%−15.8%−10.4%−1.3%−60.6%−42.6%
PG The Procter & Gamble Company9 of 10−0.7%−23.8%−22.9%−9.6%−5.1%−10.9%−8.9%−0.7%−39.0%−27.1%
CL Colgate-Palmolive Company9 of 10−0.9%−18.2%−20.7%−15.7%−4.8%−12.2%−8.5%−1.9%−31.1%−30.8%
ULTA Ulta Beauty, Inc.2 of 8−2.0%−20.7%−57.4%−27.1%−4.7%−18.8%−25.9%−3.5%——
TPR Tapestry, Inc.4 of 9−4.6%−35.9%−62.8%−35.3%−2.5%−16.1%−31.2%−2.1%−74.1%—
M Macy's, Inc.2 of 10−11.4%−44.6%−69.9%−24.6%−5.7%−48.1%−24.4%−2.2%−83.2%−46.4%
HLF Herbalife Nutrition Ltd.4 of 9−7.8%−56.6%−39.5%−7.5%−2.4%−28.6%−18.2%−0.8%−74.5%—
COTY Coty Inc.0 of 6−5.4%−43.5%−67.5%−52.6%−4.3%−28.2%————
BBWI Bath & Body Works, Inc.2 of 10−6.6%−62.8%−62.3%−32.1%−3.2%−18.6%−21.1%−0.8%−70.5%−65.4%
USNA USANA Health Sciences, Inc.3 of 10−0.8%−45.7%−38.9%−15.0%−3.9%−42.2%−25.7%−1.8%−62.4%−80.7%
NUS Nu Skin Enterprises, Inc.5 of 10−1.3%−38.6%−57.4%−33.6%−4.7%−36.3%−14.3%0.0%−57.6%−52.4%
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How closely does EL 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 EL 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 EL's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
EL This pageThe Estée Lauder Companies Inc.103%188%0.551.14
CHD Church & Dwight Co., Inc.47%38%1.220.44
PG The Procter & Gamble Company46%41%1.130.41
IPAR Inter Parfums, Inc.105%108%0.971.02
AMZN Amazon.com, Inc.134%139%0.961.31
TGT Target Corporation83%87%0.951.00
TPR Tapestry, Inc.119%136%0.881.46
ELF e.l.f. Beauty, Inc.133%171%0.781.81
CL Colgate-Palmolive Company39%52%0.750.46
ULTA Ulta Beauty, Inc.101%141%0.721.25
M Macy's, Inc.93%183%0.511.75
BBWI Bath & Body Works, Inc.62%184%0.341.59
HLF Herbalife Nutrition Ltd.32%126%0.250.89
COTY Coty Inc.39%212%0.181.70
NUS Nu Skin Enterprises, Inc.18%191%0.101.09
USNA USANA Health Sciences, Inc.2%110%0.020.78
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What diversifies EL?

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

ETFs

InvestmentCorrelation5Y returnSharpe20242023202220162008200520022001200080/20 mix volatility80/20 mix annual return
EL The Estée Lauder Companies Inc. (this page)1.00−62.3%-0.21−47.6%−40.1%−32.3%−11.9%−27.6%−26.0%−17.5%−26.5%−12.7%41.8%−19.7%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.36+119%1.48+15.9%+17.4%+3.8%——————34.2%−12.1%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.35+225%1.34+29.8%+42.0%+6.0%+1.1%−20.8%————34.4%−10.6%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.18+101%1.04+33.4%+8.0%+10.4%+29.8%—————34.1%−12.2%
HDV Dividend & IncomeiShares Core High Dividend ETF0.27+83.3%1.00+14.1%+1.8%+7.1%+15.9%—————34.3%−12.8%
EWP Broad MarketiShares MSCI Spain ETF0.35+140%0.97+5.7%+30.3%−5.2%−1.8%−36.8%+4.6%−13.6%−9.2%−11.8%34.9%−11.6%
SMH TechnologyVanEck Semiconductor ETF0.36+323%0.97+39.1%+73.4%−33.5%+35.6%−44.7%+10.8%−47.0%−14.6%—36.5%−8.9%
GLD CommoditiesSPDR Gold Shares0.32+126%0.96+26.7%+12.7%−0.8%+8.0%+4.9%+17.8%———34.7%−11.9%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.36+136%0.93+45.8%+17.6%−10.4%+7.4%—————35.1%−11.4%

Stocks

InvestmentCorrelation5Y returnSharpe20242023202220162008200520022001200080/20 mix volatility80/20 mix annual return
EL The Estée Lauder Companies Inc. (this page)1.00−62.3%-0.21−47.6%−40.1%−32.3%−11.9%−27.6%−26.0%−17.5%−26.5%−12.7%41.8%−19.7%
CAH Medical - DistributionCardinal Health, Inc.0.13+479%1.55+19.0%+34.1%+54.1%−17.5%−39.6%+18.7%−8.3%−2.5%+108%34.5%−8.7%
CLS Hardware, Equipment & PartsCelestica Inc.0.11+3,143%1.47+215%+160%+1.3%+7.4%−20.5%−25.2%−65.1%−25.6%−2.3%36.6%+1.6%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.27+1,636%1.46+107%+79.6%+17.0%+18.3%−15.2%+20.1%−9.4%+73.7%−71.1%36.9%−2.2%
MCK Medical - DistributionMcKesson Corporation-0.02+413%1.44+23.7%+24.1%+51.8%−28.3%−40.4%+64.9%−27.2%+4.9%+61.2%33.7%−9.0%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.09+690%1.41−4.0%+30.4%+86.6%+0.7%—————34.6%−6.9%
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Common questions

What was EL's worst drawdown?

EL's deepest decline since it began trading in 1995 was 85.8%, from January 2022 to April 2025. It has not yet climbed back to that peak.

What were EL's best and worst years?

Over 29 full calendar years, EL's best year was 2017, when it returned 68.7%. Its worst was 2024, with a return of -47.6%.

Is there a better investment than EL?

Among EL's popular alternatives, PG, CL and CHD earned more than EL with less volatility over the past 5 years. PG returned 5.1% a year at 18.2% volatility, against a loss of 17.7% a year at 44.5%. Looking beyond its popular alternatives, ATR (packaging) and WMT (discount retail) earned more than EL with less volatility over the past 5 years. ATR returned 0.9% a year at 22.6% volatility, against a loss of 17.7% a year at 44.5%.

Is EL more volatile than the S&P 500?

Yes. EL's volatility over the past 5 years was 44.5%, 2.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, EL's return lands within 44.5% 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 EL's Sharpe ratio?

EL's Sharpe ratio over the past 5 years was -0.21, against 0.79 for the S&P 500, so EL 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 EL with the S&P 500?

Over the past 5 years, EL'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 EL instead: the lower it is, the more that option would diversify a EL holding.

What are the best alternatives to EL?

Of the 17 popular alternatives we compared, two outperformed EL in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: ELF and CHD.

Did EL outperform the S&P 500?

EL finished ahead of the S&P 500 (SPY) in 17 of 29 full calendar years. In 2025, it returned +42.1%, against +17.7% for the index.

How did EL do in stock market crashes?

EL fell less than the S&P 500 (SPY) in two of the ten major crashes it has traded through, and further in seven. The clearest case was the 2022 bear market, when EL fell 42.0% and the S&P 500 fell 24.5%.

What diversifies EL?

These had a low correlation with EL over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.36), DXJ (correlation 0.35) and EMLP (correlation 0.18); among large stocks, CAH (correlation 0.13), CLS (correlation 0.11) and FIX (correlation 0.27). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to EL

Other stocks and ETFs