# How Diamondback Energy (FANG) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/fang
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on FANG alone. It places FANG (Diamondback Energy, Inc.) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where FANG stands in the market, and of the alternatives worth a closer look.

Period covered: FANG's full trading record, from October 2012 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** Not every peer went the same way. Over the past 6 months, COP (ConocoPhillips) rose 27.1% and CRC (California Resources) fell 11.5%. After a 42.1% loss from July 2024 to April 2025, FANG has bounced 65.3% off the low.
- **Stock or market?:** FANG lagged its own industry over the past 3 months, rising 4.2% while the exploration & production ETF XOP (State Street SPDR S&P Oil & Gas Exploration & Production ETF) rose 18.1%. The S&P 500 rose 3.9%. Its exploration & production peers did not move as one over the past 3 months: COP (ConocoPhillips) rose 27.0%, while MGY (Magnolia Oil & Gas) rose 0.4%.
- **Past 1 to 3 years:** Over the past year, FANG rose 46.8% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. Even so, the last two calendar years both went the same way: FANG fell 5.6% in 2025, against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100.
- **Long term:** FANG turned $10,000 into $26,000 over the past decade, against $42,100 in the S&P 500. Even so, the past 5 years have been the better stretch: FANG rose 125% against 81.7% for the S&P 500, after trailing over the decade.
- **In a crash:** Across four sell-offs, FANG has typically fallen about twice as far as the S&P 500. The Covid crash took 80.2% off FANG, against 33.7% for the S&P 500. That was more than COP (ConocoPhillips, 61.8%) but less than PR (Permian Resources, 90.1%).
- **Diversification:** Against the S&P 500, FANG has a correlation of 0.28 over 5 years, less closely than 74% of stocks worth at least $300 million. Next to an index fund it is a real diversifier. FANG moves far less with the S&P 500 than it used to, with a correlation of 0.28 over the past 5 years against 0.66 in the 5 years before.
- **Better options**
  - **Popular alternatives:** MPC (Marathon Petroleum) earned more than FANG with less volatility over the past 5 years: 51.2% a year at 33.4% volatility, against 17.6% a year at 36.6%.
  - **Nearby categories and themes:** XOM (Exxonmobil, integrated oil & gas) and CVX (Chevron, integrated oil & gas) earned more than FANG with less volatility over the past 5 years. XOM returned 27.1% a year at 26.5% volatility, against 17.6% a year at 36.6%.
  - **Whole market:** 177 of the 3,633 stocks and funds worth at least $500 million earned more than FANG with less volatility over the past 5 years, among them GOOG (Alphabet), LLY (Eli Lilly and Company) and WMT (Walmart).

## How much would $10,000 in FANG have grown?

This chart tracks a hypothetical $10,000 investment in FANG over the past 13 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of FANG over the same span and FANG's popular alternatives, among those that traded for the entire period.

- $10,000 invested in FANG at the end of September 2013 would have grown to $56,695 by September 2026, about the same as the $56,474 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of FANG, and LLY finished highest, at $293,821.

## FANG 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.

- FANG's deepest decline since it began trading in 2012 was 88.7%, from October 2018 to March 2020. It took 23 months from the low to climb back to its old high.
- Over 13 full calendar years, FANG's best was 2013, when it returned 177%, and its worst was 2020, when it lost 46.0%. It lost money in three of those years.
- FANG is 4.3% below its all-time high.

- Type: Stock, Energy (Oil & Gas Exploration & Production)
- Trading since: October 12, 2012
- Market value: $57B
- Volatility (5 years): 36.6%; Sharpe ratio: 0.63
- Worst decline ever: −88.7%, from October 3, 2018 to March 18, 2020; back at its high by February 4, 2022

| Period | FANG total return |
| --- | --- |
| 1 month | +6.9% |
| 3 months | +4.2% |
| 6 months | +11.6% |
| year to date | +35.1% |
| 1 year | +46.8% |
| 3 years | +35.7% |
| 5 years | +125% |
| 10 years | +160% |

## FANG against the whole market

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

### How does FANG rank among all stocks?

This section ranks FANG on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- FANG's worst decline of the past 10 years ranks in the bottom 13% of the 2,187 stocks worth at least $300 million, where the top fell the least.
- FANG's 1-year return ranks in the top 18% of the 3,287 stocks worth at least $300 million with 1 year of history.

| Measure | FANG | Rank |
| --- | --- | --- |
| 1-year return | +46.8% | 602 of 3,287 (top 19%) |
| 3-year return | +35.7% | 1,759 of 3,017 (top 59%) |
| 5-year return | +125% | 551 of 2,893 (top 20%) |
| 10-year return | +160% | 1,026 of 2,202 (top 47%) |
| Volatility, 5 years | 36.6% | 1,245 of 2,893 (top 44%) |
| Sharpe ratio, 5 years | 0.63 | 615 of 2,893 (top 22%) |
| Worst decline, past 10 years | −88.7% | 1,901 of 2,187 (top 87%) |

### What has beaten FANG 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).

- 150 stocks and 27 ETFs worth at least $500 million sit in the green region: each earned more than FANG over the past 5 years with smaller price swings. That is 5% of the 3,633 screened.
- Among those with at least half FANG's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 32% less than FANG's 36.6%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.63 for FANG. MPC earned the most, 51.2% a year, while still swinging less than FANG (33.4% against 36.6%).
- Among FANG's popular alternatives, MPC is in the region. MPC earned 51.2% a year against 17.6% a year for FANG, at 33.4% volatility, 9% less than FANG's 36.6%.

### Is there a better investment than FANG?

The table below lists investments that beat FANG 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.

- Among FANG's popular alternatives, MPC earned more than FANG with less volatility over the past 5 years: 51.2% a year at 33.4% volatility, against 17.6% a year at 36.6%.
- Looking beyond its popular alternatives, XOM (integrated oil & gas) and CVX (integrated oil & gas) earned more than FANG with less volatility over the past 5 years. XOM returned 27.1% a year at 26.5% volatility, against 17.6% a year at 36.6%.
- Across the whole market, 177 of the 3,633 stocks and funds worth at least $500 million earned more than FANG with less volatility over the past 5 years, among them GOOG, LLY and WMT.

The 15 strongest of 177 investments that beat FANG over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with FANG | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| FANG: Diamondback Energy, Inc. (this page) |  | +17.6% | 36.6% | 0.63 | −88.7% | +160% |  |  |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.06 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | Pharmaceuticals | +40.7% | 32.8% | 1.21 | −34.5% | +1,807% | -0.04 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | Biotechnology | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [XLK](https://easycompare.io/research/xlk): State Street Technology Select Sector SPDR ETF | Technology Equity | +19.4% | 26.0% | 0.82 | −33.6% | +767% | 0.03 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [TRV](https://easycompare.io/research/trv): The Travelers Companies, Inc. | Property & Casualty Insurance | +22.4% | 22.3% | 1.02 | −46.3% | +347% | 0.42 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [MAR](https://easycompare.io/research/mar): Marriott International, Inc. | Hotels & Resorts | +22.0% | 28.6% | 0.84 | −61.3% | +544% | 0.35 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [CCEP](https://easycompare.io/research/ccep): Coca-Cola Europacific Partners PLC | Food & Beverages | +19.7% | 23.2% | 0.90 | −48.8% | +292% | 0.08 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | Energy Equity | +22.6% | 25.5% | 0.93 | −66.8% | +189% | 0.86 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [XOM](https://easycompare.io/research/xom): Exxonmobil Holdings Corporation | Integrated Oil & Gas | +27.1% | 26.5% | 1.04 | −61.0% | +214% | 0.76 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| RS: Reliance Steel & Aluminum Co. | Metals & Mining | +24.8% | 28.1% | 0.93 | −40.8% | +626% | 0.35 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [CVX](https://easycompare.io/research/cvx): Chevron Corporation | Integrated Oil & Gas | +19.5% | 25.2% | 0.84 | −55.8% | +238% | 0.75 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| SNX: TD Synnex Corp | Technology Distribution | +20.3% | 30.4% | 0.76 | −55.8% | +430% | 0.18 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| RGA: Reinsurance Group of America, Incorporated | Insurance | +19.7% | 27.3% | 0.80 | −65.8% | +199% | 0.47 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [PSX](https://easycompare.io/research/psx): Phillips 66 | Oil & Gas | +33.2% | 32.9% | 1.04 | −64.2% | +430% | 0.70 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| RNR: RenaissanceRe Holdings Ltd. | Insurance | +20.1% | 27.8% | 0.80 | −40.7% | +215% | 0.06 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |

## FANG against its popular alternatives

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

### How do FANG'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.

- MPC, VNOM and COP were both more rewarding and calmer than FANG over the past 5 years, earning a higher annual return with lower volatility.
- 13 of the 20 popular alternatives earned less than FANG over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, FANG returned 17.6% a year, more than the S&P 500's 12.7%, with higher volatility (36.6% against 17.1%).

### Has FANG consistently beaten its popular alternatives?

This section compares FANG with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Four of the 20 popular alternatives, led by MPC, REPX and COP, outperformed FANG in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- MPC and REPX outperformed FANG in every long-term period and in all but one short-term period, the most consistent record in the group.
- MPC, EPD and VNOM earned more for the risk they took than FANG (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of FANG | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| FANG: Diamondback Energy, Inc. (this page) | +46.8% | +35.7% | +125% | +160% |  |  | 0.63 |
| [MPC](https://easycompare.io/research/mpc): Marathon Petroleum Corporation | +159% | +234% | +690% | +1,387% | 5/5 short-term, 3/3 long-term | all-weather | 1.41 |
| REPX: Riley Exploration Permian, Inc. | +86.4% | +79.5% | +133% | +403% | 5/5 short-term, 3/3 long-term | all-weather | 0.58 |
| [COP](https://easycompare.io/research/cop): ConocoPhillips | +72.9% | +28.5% | +131% | +379% | 5/5 short-term, 2/3 long-term | consistent | 0.68 |
| PR: Permian Resources Corporation | +108% | +86.6% | +317% | +99.2% | 5/5 short-term, 2/3 long-term | consistent | 0.85 |
| VNOM: Viper Energy, Inc. | +32.1% | +85.3% | +158% | +413% | 2/5 short-term, 3/3 long-term |  | 0.71 |
| [EPD](https://easycompare.io/research/epd): Enterprise Products Partners L.P. | +28.4% | +65.2% | +113% | +178% | 0/5 short-term, 2/3 long-term |  | 0.98 |
| OVV: Ovintiv Inc. | +98.3% | +52.5% | +99.6% | +56.0% | 5/5 short-term, 1/3 long-term |  | 0.54 |
| MTDR: Matador Resources Company | +36.6% | −5.3% | +39.7% | +168% | 1/5 short-term, 1/3 long-term |  | 0.38 |
| CRC: California Resources Corp | +18.9% | +9.2% | +38.7% | +397% | 0/5 short-term, 1/3 long-term |  | 0.36 |
| [EOG](https://easycompare.io/research/eog): EOG Resources, Inc. | +53.1% | +31.9% | +115% | +131% | 5/5 short-term, 0/3 long-term |  | 0.64 |
| SM: SM Energy Company | +88.7% | −1.4% | +39.5% | +123% | 5/5 short-term, 0/3 long-term |  | 0.39 |
| MUR: Murphy Oil Corporation | +62.7% | +2.9% | +74.9% | +109% | 5/5 short-term, 0/3 long-term |  | 0.48 |
| [OXY](https://easycompare.io/research/oxy): Occidental Petroleum Corporation | +56.4% | +2.0% | +103% | +11.6% | 5/5 short-term, 0/3 long-term |  | 0.56 |
| APA: APA Corporation | +130% | +31.9% | +111% | +0.9% | 5/5 short-term, 0/3 long-term |  | 0.56 |
| CHRD: Chord Energy Corporation | +77.0% | +4.9% | +117% | — | 5/5 short-term, 0/3 long-term |  | 0.59 |
| [DVN](https://easycompare.io/research/dvn): Devon Energy Corporation | +61.8% | +15.0% | +56.0% | +69.6% | 3/5 short-term, 0/3 long-term |  | 0.42 |
| NOG: Northern Oil and Gas, Inc. | +39.8% | −16.6% | +40.8% | +41.7% | 3/5 short-term, 0/3 long-term |  | 0.38 |
| [SLB](https://easycompare.io/research/slb): Slb N.V. | +53.2% | −7.2% | +60.7% | −21.3% | 2/5 short-term, 0/3 long-term |  | 0.44 |
| HAL: Halliburton Company | +51.5% | −14.7% | +39.8% | −17.1% | 1/5 short-term, 0/3 long-term |  | 0.37 |
| MGY: Magnolia Oil & Gas Corporation | +14.0% | +18.4% | +35.9% | — | 0/5 short-term, 0/3 long-term |  | 0.35 |

### How did FANG do year by year?

This table shows each investment's total return in every full calendar year since 2013, along with where FANG ranked among its popular alternatives each year.

- FANG finished ahead of the S&P 500 in six of its 13 full calendar years, and behind it in each of the last three.
- Ranked against its popular alternatives each year, FANG finished in the top quarter in seven of 13 years and in the bottom quarter in no. In 2025, it ranked 12 of 21.
- Among its popular alternatives, MGY came out ahead of FANG most often, in six of the eight years both traded.

| Year | FANG | SPY |
| --- | --- | --- |
| 2025 | −5.6% | +17.7% |
| 2024 | +10.3% | +24.9% |
| 2023 | +19.7% | +26.2% |
| 2022 | +35.4% | −18.2% |
| 2021 | +127% | +28.7% |
| 2020 | −46.0% | +18.3% |
| 2019 | +0.9% | +31.2% |
| 2018 | −26.4% | −4.6% |
| 2017 | +24.9% | +21.7% |
| 2016 | +51.1% | +12.0% |

## Risk and diversification

How FANG 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 FANG's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all five of FANG's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: FANG fell 42.6% from June to December 2014, while the S&P 500 rose 3.0%.
- The longest climb back to a previous high took 23 months, after FANG fell 88.7% from October 2018 to March 2020.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −88.7% | October 3, 2018 | March 18, 2020 | February 4, 2022 | −15.7% | late-2018 sell-off |
| −42.6% | June 23, 2014 | December 12, 2014 | May 26, 2016 | +3.0% |  |
| −42.1% | July 17, 2024 | April 8, 2025 | March 26, 2026 | −10.0% |  |
| −33.5% | June 7, 2022 | July 14, 2022 | October 31, 2022 | −8.7% | 2022 bear market |
| −24.1% | February 15, 2017 | June 16, 2017 | November 6, 2017 | +4.2% |  |

### How did FANG do in stock market crashes?

This section measures how far FANG, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- FANG fell further than the S&P 500 in all six crashes it has traded through. The clearest case was the Covid crash, when FANG fell 80.2% and the S&P 500 fell 33.7%.
- Among its popular alternatives, OXY held up best, falling less than FANG in all six crashes they both traded through.
- FANG began trading after the 2008 financial crisis, but 13 of its popular alternatives lived through it. The mildest fall among them was EPD's 44.4%, against 55.2% for the S&P 500.

| Crash | Dates | FANG fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | not trading | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | not trading | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | not trading | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −29.3% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −9.8% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −38.7% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −80.3% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −33.5% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −7.7% | −3.4% |

### How closely does FANG 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.

- REPX took just 85% of the S&P 500's losses, against 148% for FANG, while still keeping 89% of its gains.
- Over the past 10 years, FANG captured 108% of the S&P 500's gains in rising months and 148% of its losses in falling months, with a beta of 1.54. It amplified the market's moves in both directions.
- Five of the 17 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than FANG's 0.73, led by MPC, REPX and COP.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| FANG: Diamondback Energy, Inc. (this page) | 108% | 148% | 1.54 |
| [MPC](https://easycompare.io/research/mpc): Marathon Petroleum Corporation | 138% | 95.0% | 1.29 |
| REPX: Riley Exploration Permian, Inc. | 89.0% | 85.0% | 1.14 |
| [COP](https://easycompare.io/research/cop): ConocoPhillips | 94.0% | 92.0% | 0.91 |
| PR: Permian Resources Corporation | 139% | 234% | 3.38 |
| VNOM: Viper Energy, Inc. | 128% | 145% | 1.54 |
| [EPD](https://easycompare.io/research/epd): Enterprise Products Partners L.P. | 81.0% | 94.0% | 0.93 |
| OVV: Ovintiv Inc. | 131% | 228% | 2.14 |
| MTDR: Matador Resources Company | 156% | 239% | 2.70 |
| [EOG](https://easycompare.io/research/eog): EOG Resources, Inc. | 92.0% | 135% | 1.17 |
| SM: SM Energy Company | 154% | 244% | 3.21 |
| MUR: Murphy Oil Corporation | 138% | 225% | 1.79 |
| [OXY](https://easycompare.io/research/oxy): Occidental Petroleum Corporation | 80.0% | 155% | 1.24 |
| APA: APA Corporation | 124% | 246% | 2.54 |
| [DVN](https://easycompare.io/research/dvn): Devon Energy Corporation | 118% | 199% | 1.80 |
| NOG: Northern Oil and Gas, Inc. | 123% | 228% | 1.68 |
| [SLB](https://easycompare.io/research/slb): Slb N.V. | 104% | 212% | 1.54 |
| HAL: Halliburton Company | 113% | 225% | 1.75 |

### What diversifies FANG?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in FANG into GLD would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (+19.1% for FANG alone, +20.1% for the mix).
- FIX made money in three of the three calendar years in which FANG lost money.
- Among large ETFs, LVHI, DXJ and SMH have moved largely independently of FANG over the past 5 years, with correlations of 0.44 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with FANG | 5Y return | Volatility | Sharpe | Rose in FANG's 3 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.44 | +119% | 11.1% | 1.48 | 1 of 3 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.22 | +225% | 19.1% | 1.34 | 2 of 3 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.04 | +323% | 36.9% | 0.97 | 2 of 3 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.26 | +85.0% | 13.8% | 0.96 | 2 of 3 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | -0.01 | +126% | 18.9% | 0.96 | 2 of 3 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.18 | +136% | 20.8% | 0.93 | 2 of 3 |
| DFIV: Dimensional - International Value ETF | 0.43 | +99.4% | 16.4% | 0.93 | 1 of 3 |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | 0.46 | +76.6% | 13.7% | 0.90 | 2 of 3 |

## Common questions

### What was FANG's worst drawdown?

FANG's deepest decline since it began trading in 2012 was 88.7%, from October 2018 to March 2020. It took 23 months from the low to climb back to its old high. Because FANG launched in October 2012, that record does not include the dot-com bust, the 2008 financial crisis or two other sell-offs.

### What were FANG's best and worst years?

Over 13 full calendar years, FANG's best year was 2013, when it returned 177%. Its worst was 2020, with a return of -46.0%.

### Is there a better investment than FANG?

Among FANG's popular alternatives, MPC earned more than FANG with less volatility over the past 5 years: 51.2% a year at 33.4% volatility, against 17.6% a year at 36.6%. Looking beyond its popular alternatives, XOM (integrated oil & gas) and CVX (integrated oil & gas) earned more than FANG with less volatility over the past 5 years. XOM returned 27.1% a year at 26.5% volatility, against 17.6% a year at 36.6%.

### Is FANG more volatile than the S&P 500?

Yes. FANG's volatility over the past 5 years was 36.6%, 2.1 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, FANG's return lands within 36.6% 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 FANG's Sharpe ratio?

FANG's Sharpe ratio over the past 5 years was 0.63, against 0.79 for the S&P 500, so FANG 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 FANG with the S&P 500?

Over the past 5 years, FANG's monthly returns had a correlation of 0.28 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 FANG instead: the lower it is, the more that option would diversify a FANG holding.

### What are the best alternatives to FANG?

Of the 20 popular alternatives we compared, four outperformed FANG in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: MPC, REPX and COP.

### Did FANG outperform the S&P 500?

FANG finished ahead of the S&P 500 (SPY) in six of 13 full calendar years. In 2025, it returned -5.6%, against +17.7% for the index.

### How did FANG do in stock market crashes?

FANG fell less than the S&P 500 (SPY) in none of the six major crashes it has traded through, and further in six. The clearest case was the Covid crash, when FANG fell 80.2% and the S&P 500 fell 33.7%.

### What diversifies FANG?

These had a low correlation with FANG over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.44), DXJ (correlation 0.22) and SMH (correlation 0.04); among large stocks, CAH (correlation 0.06), CLS (correlation 0.22) and FIX (correlation 0.26). A correlation near zero means the two have moved largely independently.

## More research

- [Marathon Petroleum (MPC) Performance, Alternatives and Market Rank](https://easycompare.io/research/mpc)
- [ConocoPhillips (COP) Performance, Alternatives and Market Rank](https://easycompare.io/research/cop)
- [Enterprise Products Partners (EPD) Performance, Alternatives and Market Rank](https://easycompare.io/research/epd)
- [EOG Resources (EOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/eog)
- [Occidental Petroleum (OXY) Performance, Alternatives and Market Rank](https://easycompare.io/research/oxy)
- [Devon Energy (DVN) Performance, Alternatives and Market Rank](https://easycompare.io/research/dvn)
- [SLB Performance, Alternatives and Market Rank](https://easycompare.io/research/slb)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/aapl)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)
- [Microsoft (MSFT) Performance, Alternatives and Market Rank](https://easycompare.io/research/msft)

## Explore further

- Full page with charts: https://easycompare.io/research/fang
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against FANG live: https://betterthanspy.com/?b=FANG&utm_source=easycompare&utm_medium=research