Benchmark research · S&P 500
ETFs and Stocks That Consistently Outperformed SPY (S&P 500)
Any investment can look great over a single hand-picked timeframe. To find what truly kept ahead of SPY (State Street SPDR S&P 500 ETF), we screened SPY against the entire market of over 10,000 stocks and ETFs across 8 different time windows from 1 month to 10 years, including reinvested dividends. A contender had to come out ahead in both the short term and the long term to make the list. Data as of October 20, 2026.
Compare the entire market against SPY live →Key findings
- How hard it was to top SPY: It was difficult for ETFs but less so for stocks. Of the 954 eligible ETFs and 1,502 eligible stocks from a screen of over 10,000 stocks and ETFs, 42 ETFs (4.4%) and 225 stocks (15%) outperformed in at least 3 of 5 short-term periods and 2 of 3 long-term periods. A smaller group held up across nearly every period: 13 ETFs and 80 stocks outperformed in every long-term period and all but one short-term period.
- Who came out ahead across the three groups:
- Popular alternatives: QQQ qualified with 3 of 5 short-term and 3 of 3 long-term periods ahead of SPY. ARKK fell short with 1 of 5 short-term and 2 of 3 long-term periods, while SCHD led in the short term with 5 of 5 but managed 0 of 3 long-term periods. VOO and IVV, which track the same index as SPY, tied it in every period.
- Top ETFs: Technology and broad-market funds were prominent among the leaders, alongside international, commodity, and energy funds. DXJ, BNO, and CRAK outperformed in all 5 short-term and all 3 long-term periods, while IYW did so in 4 of 5 short-term and all 3 long-term periods.
- Top stocks: 225 stocks qualified. The standout names in the table include healthcare companies NTRA and LLY, energy companies CVI and MPC, and consumer staples company COKE. Each outperformed in all 5 short-term and all 3 long-term periods.
- The risk trade-off: Over the 5-year period, every one of the top 15 ETFs and top 10 stocks had higher volatility than SPY. The ETF group had a median volatility of 26.1% versus 17.1% for SPY, while the stock group’s median volatility was 47.0%. Still, most had higher Sharpe ratios, a measure of return relative to risk: 10 of 15 ETFs and 7 of 10 stocks topped SPY’s 0.79.
How popular alternatives compare
Well-known funds and stocks investors often compare against SPY, sorted by long-term periods outperformed, then short-term.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | ||
| SPY State Street SPDR S&P 500 ETF (benchmark) | — | −0.6% | +3.9% | +9.1% | +13.5% | +15.8% | +89.3% | +81.7% | +321% | 17.1% | 0.79 |
| QQQ Made the listInvesco QQQ Trust, Series 1 | 3/5 short3/3 long | −3.2% | +3.2% | +11.2% | +17.4% | +17.9% | +106% | +97.2% | +553% | 23.0%1.3× SPY | 0.71 |
| ARKK Fell shortARK Innovation ETF | 1/5 short2/3 long | −8.0% | +11.3% | +5.2% | +6.5% | −7.3% | +132% | −28.5% | +340% | 46.8%2.7× SPY | 0.09 |
| VUG Fell shortVanguard Morningstar Growth ETF | 0/5 short2/3 long | −2.5% | +4.0% | +8.2% | +9.8% | +10.2% | +100% | +78.6% | +419% | 22.5%1.3× SPY | 0.63 |
| SCHD Fell shortSchwab U.S. Dividend Equity ETF | 5/5 short0/3 long | +3.7% | +6.8% | +13.6% | +28.2% | +33.0% | +67.5% | +59.1% | +252% | 14.3%0.8× SPY | 0.72 |
| VTV Fell shortVanguard Morningstar Value ETF | 4/5 short0/3 long | +1.6% | +4.0% | +11.0% | +18.2% | +22.5% | +77.9% | +76.6% | +235% | 13.7%0.8× SPY | 0.90 |
| DGRO Fell shortiShares Core Dividend Growth ETF | 3/5 short0/3 long | +2.8% | +3.9% | +9.4% | +15.1% | +18.1% | +74.2% | +68.0% | +267% | 13.7%0.8× SPY | 0.83 |
| VYM Fell shortVanguard High Dividend Yield ETF | 2/5 short0/3 long | +1.1% | +1.7% | +5.1% | +13.3% | +16.9% | +72.8% | +71.1% | +208% | 13.8%0.8× SPY | 0.85 |
| DIA Fell shortState Street SPDR Dow Jones Industrial Average ETF Trust | 1/5 short0/3 long | +0.9% | +1.6% | +6.8% | +9.6% | +13.9% | +66.1% | +60.6% | +250% | 14.8%0.9× SPY | 0.72 |
| RSP Fell shortInvesco S&P 500 Equal Weight ETF | 1/5 short0/3 long | +1.5% | +2.0% | +6.7% | +13.3% | +15.5% | +65.4% | +48.6% | +211% | 16.1%0.9× SPY | 0.57 |
| VOO Same indexVanguard S&P 500 ETF | ≈ Same returns | −0.6% | +3.9% | +9.1% | +13.5% | +15.8% | +89.7% | +82.3% | +324% | 16.9%1.0× SPY | 0.80 |
| IVV Same indexiShares Core S&P 500 ETF | ≈ Same returns | −0.6% | +3.9% | +9.1% | +13.5% | +15.8% | +89.7% | +82.3% | +324% | 17.0%1.0× SPY | 0.80 |
| VTI Fell shortVanguard Morningstar Total Stock Market ETF | 0/5 short0/3 long | −0.8% | +3.2% | +8.3% | +13.1% | +15.2% | +87.9% | +72.6% | +302% | 17.5%1.0× SPY | 0.71 |
| SCHB Fell shortSchwab U.S. Broad Market ETF | 0/5 short0/3 long | −0.9% | +3.2% | +8.3% | +13.1% | +15.2% | +88.0% | +72.9% | +286% | 17.3%1.0× SPY | 0.72 |
| VT Fell shortVanguard Total World Stock ETF | 0/5 short0/3 long | −1.9% | +2.5% | +5.5% | +12.0% | +15.0% | +83.8% | +63.3% | +223% | 16.2%0.9× SPY | 0.69 |
| IWM Fell shortiShares Russell 2000 ETF | 0/5 short0/3 long | −3.4% | −5.4% | −0.1% | +11.6% | +12.3% | +71.3% | +29.0% | +158% | 22.4%1.3× SPY | 0.34 |
| VXUS Fell shortVanguard Total International Stock ETF | 0/5 short0/3 long | −3.9% | +1.0% | +0.9% | +10.2% | +14.6% | +77.2% | +48.6% | +140% | 16.4%1.0× SPY | 0.57 |
ETFs that consistently outperformed SPY
Top 15 by long-term periods outperformed, then short-term, then by 10Y return. Green cells outperformed SPY in that period. Excludes leveraged and inverse funds, ETFs under $100M in assets, stocks under $2.0B in market cap, and anything without 10 years of history.
| # | Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | Expense | Assets | |||
| — | SPY State Street SPDR S&P 500 ETF (benchmark) | — | −0.6% | +3.9% | +9.1% | +13.5% | +15.8% | +89.3% | +81.7% | +321% | 17.1% | 0.79 | ||
| 1 | DXJ InternationalWisdomTree Japan Hedged Equity Fund | 5/5 short3/3 longAll-weather | 0.0% | +4.7% | +9.9% | +25.0% | +36.4% | +127% | +225% | +428% | 19.1%1.1× SPY | 1.34 | 0.48% | $8.1B |
| 2 | BNO CommoditiesUnited States Brent Oil Fund LP | 5/5 short3/3 longAll-weather | +13.6% | +35.6% | +40.9% | +137% | +141% | +108% | +196% | +348% | 37.1%2.2× SPY | 0.77 | 1.15% | $768M |
| 3 | CRAK EnergyVanEck Oil Refiners ETF | 5/5 short3/3 longAll-weather | +1.6% | +20.3% | +41.5% | +73.9% | +81.5% | +121% | +146% | +336% | 20.9%1.2× SPY | 0.97 | 0.61% | $810M |
| 4 | IYW Broad MarketiShares U.S. Technology ETF | 4/5 short3/3 longAll-weather | −4.2% | +5.6% | +20.4% | +26.8% | +27.0% | +143% | +138% | +805% | 26.6%1.6× SPY | 0.79 | 0.37% | $24B |
| 5 | VGT TechnologyVanguard Information Technology ETF | 4/5 short3/3 longAll-weather | −4.2% | +6.3% | +19.1% | +27.6% | +26.7% | +138% | +133% | +779% | 26.0%1.5× SPY | 0.78 | 0.09% | $178B |
| 6 | XLK TechnologyState Street Technology Select Sector SPDR ETF | 4/5 short3/3 longAll-weather | −4.8% | +5.7% | +20.3% | +29.0% | +29.3% | +131% | +143% | +767% | 26.0%1.5× SPY | 0.82 | 0.08% | $125B |
| 7 | FTEC TechnologyFidelity MSCI Information Technology Index ETF | 4/5 short3/3 longAll-weather | −4.2% | +6.3% | +19.1% | +27.6% | +27.0% | +139% | +135% | +763% | 26.1%1.5× SPY | 0.79 | 0.08% | $22B |
| 8 | IGM Broad MarketiShares Expanded Tech Sector ETF | 4/5 short3/3 longAll-weather | −5.1% | +4.5% | +16.2% | +24.4% | +24.3% | +156% | +130% | +720% | 26.5%1.5× SPY | 0.76 | 0.37% | $11B |
| 9 | RSPT TechnologyInvesco S&P 500 Equal Weight Technology ETF | 4/5 short3/3 longAll-weather | −2.8% | +8.4% | +24.4% | +41.0% | +42.9% | +141% | +119% | +572% | 25.1%1.5× SPY | 0.75 | 0.40% | $6.1B |
| 10 | EWT TechnologyiShares MSCI Taiwan ETF | 4/5 short3/3 longAll-weather | −7.2% | +11.9% | +28.4% | +65.7% | +69.7% | +195% | +153% | +468% | 24.2%1.4× SPY | 0.89 | 0.59% | $12B |
| 11 | CIBR TechnologyFirst Trust Nasdaq Cybersecurity ETF | 4/5 short3/3 longAll-weather | −2.6% | +9.4% | +49.9% | +42.4% | +31.9% | +127% | +93.2% | +454% | 26.1%1.5× SPY | 0.64 | 0.58% | $17B |
| 12 | UGA CommoditiesUnited States Gasoline Fund, LP | 4/5 short3/3 longAll-weather | −0.9% | +16.9% | +40.5% | +130% | +130% | +111% | +221% | +399% | 35.1%2.0× SPY | 0.84 | 1.08% | $167M |
| 13 | GREK InternationalGlobal X - MSCI Greece ETF | 4/5 short3/3 longAll-weather | −5.6% | +8.8% | +14.9% | +21.4% | +32.7% | +175% | +234% | +380% | 24.6%1.4× SPY | 1.11 | 0.56% | $327M |
| 14 | SMH TechnologyVanEck Semiconductor ETF | 3/5 short3/3 long | −8.3% | −2.2% | +17.8% | +46.4% | +57.8% | +290% | +323% | +1,665% | 36.9%2.2× SPY | 0.97 | 0.35% | $66B |
| 15 | SOXX Broad MarketiShares Semiconductor ETF | 3/5 short3/3 long | −10.6% | −4.5% | +19.9% | +59.7% | +71.2% | +234% | +237% | +1,392% | 38.9%2.3× SPY | 0.82 | 0.33% | $39B |
Stocks that consistently outperformed SPY
Top 10 by long-term periods outperformed, then short-term, then by 10Y return. Individual stocks swing far more than funds; check the volatility column.
| # | Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Company | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | Market cap | |||
| — | SPY State Street SPDR S&P 500 ETF (benchmark) | — | −0.6% | +3.9% | +9.1% | +13.5% | +15.8% | +89.3% | +81.7% | +321% | 17.1% | 0.79 | |
| 1 | NTRA Medical - Diagnostics & ResearchNatera, Inc. | 5/5 short3/3 longAll-weather | +9.5% | +54.6% | +95.4% | +77.4% | +115% | +896% | +261% | +3,841% | 57.6%3.4× SPY | 0.74 | $59B |
| 2 | LLY Drug Manufacturers - GeneralEli Lilly and Company | 5/5 short3/3 longAll-weather | +10.2% | +12.1% | +40.0% | +19.4% | +59.7% | +124% | +451% | +1,807% | 32.8%1.9× SPY | 1.21 | $1.2T |
| 3 | CORT Medical - PharmaceuticalsCorcept Therapeutics Incorporated | 5/5 short3/3 longAll-weather | +2.4% | +27.2% | +151% | +205% | +48.2% | +317% | +498% | +1,593% | 75.9%4.4× SPY | 0.81 | $13B |
| 4 | COKE Beverages - Non-AlcoholicCoca-Cola Consolidated, Inc. | 5/5 short3/3 longAll-weather | +12.3% | +17.3% | +14.9% | +42.9% | +61.7% | +255% | +461% | +1,569% | 38.0%2.2× SPY | 1.10 | $14B |
| 5 | CVI Oil & Gas Refining & MarketingCVR Energy, Inc. | 5/5 short3/3 longAll-weather | +16.4% | +79.1% | +106% | +147% | +78.5% | +115% | +304% | +1,424% | 52.3%3.1× SPY | 0.80 | $6.2B |
| 6 | MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 5/5 short3/3 longAll-weather | +18.1% | +51.1% | +123% | +191% | +159% | +234% | +690% | +1,387% | 33.4%1.9× SPY | 1.41 | $133B |
| 7 | WSM Specialty RetailWilliams-Sonoma, Inc. | 5/5 short3/3 longAll-weather | +12.2% | +14.1% | +26.5% | +37.0% | +35.6% | +238% | +199% | +1,268% | 44.4%2.6× SPY | 0.71 | $30B |
| 8 | HALO BiotechnologyHalozyme Therapeutics, Inc. | 5/5 short3/3 longAll-weather | +11.6% | +61.3% | +78.8% | +76.9% | +87.1% | +254% | +226% | +1,196% | 40.4%2.4× SPY | 0.79 | $14B |
| 9 | FRO Marine ShippingFrontline Plc | 5/5 short3/3 longAll-weather | +1.0% | +43.2% | +49.3% | +177% | +144% | +215% | +726% | +1,194% | 49.7%2.9× SPY | 1.10 | $11B |
| 10 | ANF Apparel - RetailAbercrombie & Fitch Co. | 5/5 short3/3 longAll-weather | +18.3% | +71.3% | +66.3% | +30.7% | +143% | +166% | +328% | +1,117% | 62.9%3.7× SPY | 0.77 | $6.9B |
What stands out
The ETF leaders were concentrated in technology, with energy, commodities, and international funds also represented. That mix points to strong results from specific sectors and exposures rather than a broad sweep across every investment type. Several leaders, including DXJ, BNO, and CRAK, stayed ahead across all measured short- and long-term periods, while popular funds such as SCHD and VTV had short-term strength but did not top SPY in any of the long-term periods.
The stock leaders were also concentrated, especially in healthcare, with energy companies among the standouts. Their long-term results suggest the lead was not limited to recent periods, but the ride was much bumpier: the top stocks’ median volatility was 47.0%, roughly double or more than SPY’s 17.1%. Most still had higher Sharpe ratios than SPY, though that was not true of every winner. Past results do not show whether these patterns will continue.
Methodology
- Short-term periods: 1M, 3M, 6M, YTD, 1Y. Long-term periods: 3Y, 5Y, 10Y. An investment outperformed a period when its total return, with dividends reinvested, was higher than SPY's. Returns within 0.5 points or 3% of SPY's (whichever is larger) count as a tie and are shown in gray.
- Consistent means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods, so a recent hot streak alone is not enough. All-weather means outperforming in every long-term period and all but one short-term period. Rankings use long-term periods outperformed, then short-term, then the 10Y return.
- Excludes leveraged and inverse funds, ETFs under $100M in assets, stocks under $2.0B in market cap, and anything without 10 years of history.
- 3 ETFs that track essentially the same returns as SPY (VOO, IVV, SPYM) are excluded, since tiny fee differences decide whether they finish ahead.
- Volatility is the annualized standard deviation of daily returns over 5 years. The Sharpe ratio is return above cash divided by volatility over the same period: higher means more return per unit of risk.
- Returns and risk figures are computed from daily adjusted prices and update with each market day. Past performance does not predict future results.