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Relative Intelligence · Metals & Mining

How Freeport-McMoRan (FCX) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on FCX alone. It places FCX (Freeport-McMoRan 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 FCX stands in the market, and of the alternatives worth a closer look.

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

Key findings

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

This chart tracks a hypothetical $10,000 investment in FCX over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of FCX over the same span and FCX'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. 586 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of FCX; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$1,000$10,000$100,000$1M199720022007201220172022$1,000$10,000$100,000$1M19972004201120182025
  • SCCO$3M+26,680% total · +21.3% a year
  • BHP$430,670+4,207% total · +13.9% a year
  • MOG-A$350,288+3,403% total · +13.0% a year
  • RIO$271,382+2,614% total · +12.1% a year
  • AEM$246,326+2,363% total · +11.7% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • FCX$86,132+761% total · +7.7% a year
  • NEM$39,676+297% total · +4.9% a year
  • CENX$22,307+123% total · +2.8% a year
  • TGB$17,820+78.2% total · +2.0% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 603 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of FCX; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000$60,000202120222023202420252026$0$20,000$40,000$60,000202120222023202420252026
  • TGB$47,141+371% total · +36.4% a year
  • SCCO$47,048+370% total · +36.3% a year
  • HBM$43,240+332% total · +34.0% a year
  • AEM$39,659+297% total · +31.7% a year
  • COPX$27,825+178% total · +22.7% a year
  • CENX$26,751+168% total · +21.7% a year
  • NEM$24,375+144% total · +19.5% a year
  • BHP$24,178+142% total · +19.3% a year
  • FCX$23,053+131% total · +18.2% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
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FCX 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
$99B
Industry
Copper
Price history from
July 1995

Returns

Past 1 year
+64.8%total return
Past 3 years
+111%+28.3% a year
Past 5 years
+89.6%+13.7% a year
Past 10 years
+650%+22.3% a year
Best calendar year
+228%2009
Worst calendar year
−75.5%2008
Losing years
12 of 29full calendar years

Risk

Volatility
44.9%typical yearly swing, 5 years
Sharpe ratio
0.51return per unit of risk, 5 years
Worst decline ever
−92.5%Jan 2011 to Jan 2016
From its all-time high
−13.6%below the peak

FCX against the whole market

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

How does FCX rank among all stocks?

This section ranks FCX 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 FCX 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.

MeasureFCXRankStanding
1-year return+64.8%371 of 3,287top 11%
3-year return+111%840 of 3,017top 28%
5-year return+89.6%739 of 2,893top 26%
10-year return+650%218 of 2,202top 10%
Volatility, 5 years44.9%1,695 of 2,893bottom 42%
Sharpe ratio, 5 years0.51899 of 2,893top 31%
Worst decline, past 10 years−72.6%1,373 of 2,187bottom 38%

What has beaten FCX 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). FCX sits where the dashed lines cross. Anything in the green box above and to the left earned more than FCX 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 FCX; faint dots are 89 more of the 459 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.

0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than FCXGILD: +22.8% a year, volatility 24.9%PSX: +33.2% a year, volatility 32.9%NWPX: +32.5% a year, volatility 36.2%GOOG: +19.0% a year, volatility 32.0%E: +23.0% a year, volatility 25.6%LLY: +40.7% a year, volatility 32.8%HPE: +32.9% a year, volatility 42.2%NTAP: +20.9% a year, volatility 35.3%CAT: +31.1% a year, volatility 31.9%COST: +17.4% a year, volatility 22.9%EXEL: +24.4% a year, volatility 35.8%EWY: +16.2% a year, volatility 34.0%MPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%APH: +33.8% a year, volatility 32.2%MSGS: +18.4% a year, volatility 25.6%IBKR: +35.4% a year, volatility 35.4%VCTR: +28.1% a year, volatility 35.0%GRMN: +14.8% a year, volatility 31.6%MATX: +24.9% a year, volatility 39.4%NHC: +32.0% a year, volatility 28.5%VGT: +18.4% a year, volatility 26.0%FLTW: +21.8% a year, volatility 24.3%PH: +27.4% a year, volatility 28.8%ADI: +19.5% a year, volatility 34.1%PGR: +21.3% a year, volatility 25.6%PWR: +39.3% a year, volatility 37.2%ETN: +20.4% a year, volatility 32.1%VIRT: +20.8% a year, volatility 33.8%TT: +22.7% a year, volatility 27.7%GWW: +26.3% a year, volatility 24.9%HLT: +21.0% a year, volatility 26.8%CTAS: +16.5% a year, volatility 23.1%DGII: +28.0% a year, volatility 42.4%RY: +17.3% a year, volatility 18.2%EME: +43.0% a year, volatility 35.3%AMAL: +24.7% a year, volatility 33.4%JBL: +35.8% a year, volatility 39.6%UFCS: +23.7% a year, volatility 39.1%AAPL: +18.5% a year, volatility 28.0%CRAK: +19.8% a year, volatility 20.9%CPAC: +24.4% a year, volatility 38.8%NPK: +16.3% a year, volatility 27.3%COKE: +41.2% a year, volatility 38.0%MLI: +38.9% a year, volatility 33.4%TSM: +31.5% a year, volatility 38.5%FCNCA: +20.4% a year, volatility 41.4%NRG: +21.9% a year, volatility 41.8%PBR: +50.3% a year, volatility 37.5%RBC: +16.8% a year, volatility 29.9%MUSA: +26.1% a year, volatility 31.2%ENSG: +19.8% a year, volatility 26.8%SNEX: +33.0% a year, volatility 37.3%VLO: +44.2% a year, volatility 36.9%WMT: +20.8% a year, volatility 22.6%XOM: +27.1% a year, volatility 26.5%SPXC: +21.8% a year, volatility 36.3%FSS: +23.3% a year, volatility 31.7%JPM: +17.3% a year, volatility 24.3%ABBV: +26.1% a year, volatility 23.4%SU: +33.1% a year, volatility 32.5%TRGP: +41.8% a year, volatility 31.7%HSBC: +33.1% a year, volatility 25.9%RUSHA: +18.2% a year, volatility 30.7%USLM: +35.6% a year, volatility 36.1%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%CSW: +17.1% a year, volatility 34.4%KO: +14.7% a year, volatility 16.8%CVX: +19.5% a year, volatility 25.2%KEN: +26.0% a year, volatility 39.0%MUFG: +33.2% a year, volatility 29.4%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%SII: +24.9% a year, volatility 39.2%SHEL: +21.0% a year, volatility 24.8%MRK: +16.3% a year, volatility 24.8%NVS: +17.1% a year, volatility 20.7%XSD: +18.3% a year, volatility 40.8%WELL: +26.0% a year, volatility 23.8%AMGN: +19.6% a year, volatility 24.9%GS: +19.6% a year, volatility 28.6%MS: +16.0% a year, volatility 28.8%TD: +15.8% a year, volatility 20.0%MFG: +33.6% a year, volatility 30.6%TJX: +19.9% a year, volatility 22.3%TTE: +18.0% a year, volatility 25.8%IBM: +16.6% a year, volatility 30.5%CIB: +32.9% a year, volatility 32.9%FCX: +13.7% a year, volatility 44.9%SPY (S&P 500): +12.7% a year, volatility 17.1%NEM: +18.6% a year, volatility 39.1%SCCO: +32.0% a year, volatility 40.7%AEM: +29.5% a year, volatility 38.4%BHP: +16.6% a year, volatility 31.4%TGB: +28.4% a year, volatility 63.5%TECK: +19.2% a year, volatility 45.3%MOG-A: +36.6% a year, volatility 32.0%ESLT: +39.8% a year, volatility 34.6%HEI: +17.3% a year, volatility 27.8%STLD: +32.2% a year, volatility 38.0%ATI: +61.8% a year, volatility 42.9%GD: +12.9% a year, volatility 20.8%SOXX: +27.5% a year, volatility 38.9%HALO: +26.6% a year, volatility 40.4%DHT: +38.7% a year, volatility 39.0%PSI: +24.3% a year, volatility 41.6%MCK: +38.7% a year, volatility 25.0%INSW: +56.5% a year, volatility 40.5%ASX: +48.8% a year, volatility 43.0%KEYS: +13.9% a year, volatility 34.5%CAH: +42.1% a year, volatility 24.7%FCXSPY (S&P 500)NEMSCCOAEMBHPTGBTECKMOG-AESLTHEISTLDATISOXXHALODHTPSIMCKINSWASXKEYSCAH0.0%20.0%40.0%60.0%80.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than FCXGILD: +22.8% a year, volatility 24.9%PSX: +33.2% a year, volatility 32.9%NWPX: +32.5% a year, volatility 36.2%GOOG: +19.0% a year, volatility 32.0%E: +23.0% a year, volatility 25.6%LLY: +40.7% a year, volatility 32.8%HPE: +32.9% a year, volatility 42.2%NTAP: +20.9% a year, volatility 35.3%CAT: +31.1% a year, volatility 31.9%COST: +17.4% a year, volatility 22.9%EXEL: +24.4% a year, volatility 35.8%EWY: +16.2% a year, volatility 34.0%MPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%APH: +33.8% a year, volatility 32.2%MSGS: +18.4% a year, volatility 25.6%IBKR: +35.4% a year, volatility 35.4%VCTR: +28.1% a year, volatility 35.0%GRMN: +14.8% a year, volatility 31.6%MATX: +24.9% a year, volatility 39.4%NHC: +32.0% a year, volatility 28.5%VGT: +18.4% a year, volatility 26.0%FLTW: +21.8% a year, volatility 24.3%PH: +27.4% a year, volatility 28.8%ADI: +19.5% a year, volatility 34.1%PGR: +21.3% a year, volatility 25.6%PWR: +39.3% a year, volatility 37.2%ETN: +20.4% a year, volatility 32.1%VIRT: +20.8% a year, volatility 33.8%TT: +22.7% a year, volatility 27.7%GWW: +26.3% a year, volatility 24.9%HLT: +21.0% a year, volatility 26.8%CTAS: +16.5% a year, volatility 23.1%DGII: +28.0% a year, volatility 42.4%RY: +17.3% a year, volatility 18.2%EME: +43.0% a year, volatility 35.3%AMAL: +24.7% a year, volatility 33.4%JBL: +35.8% a year, volatility 39.6%UFCS: +23.7% a year, volatility 39.1%AAPL: +18.5% a year, volatility 28.0%CRAK: +19.8% a year, volatility 20.9%CPAC: +24.4% a year, volatility 38.8%NPK: +16.3% a year, volatility 27.3%COKE: +41.2% a year, volatility 38.0%MLI: +38.9% a year, volatility 33.4%TSM: +31.5% a year, volatility 38.5%FCNCA: +20.4% a year, volatility 41.4%NRG: +21.9% a year, volatility 41.8%PBR: +50.3% a year, volatility 37.5%RBC: +16.8% a year, volatility 29.9%MUSA: +26.1% a year, volatility 31.2%ENSG: +19.8% a year, volatility 26.8%SNEX: +33.0% a year, volatility 37.3%VLO: +44.2% a year, volatility 36.9%WMT: +20.8% a year, volatility 22.6%XOM: +27.1% a year, volatility 26.5%SPXC: +21.8% a year, volatility 36.3%FSS: +23.3% a year, volatility 31.7%JPM: +17.3% a year, volatility 24.3%ABBV: +26.1% a year, volatility 23.4%SU: +33.1% a year, volatility 32.5%TRGP: +41.8% a year, volatility 31.7%HSBC: +33.1% a year, volatility 25.9%RUSHA: +18.2% a year, volatility 30.7%USLM: +35.6% a year, volatility 36.1%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%CSW: +17.1% a year, volatility 34.4%KO: +14.7% a year, volatility 16.8%CVX: +19.5% a year, volatility 25.2%KEN: +26.0% a year, volatility 39.0%MUFG: +33.2% a year, volatility 29.4%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%SII: +24.9% a year, volatility 39.2%SHEL: +21.0% a year, volatility 24.8%MRK: +16.3% a year, volatility 24.8%NVS: +17.1% a year, volatility 20.7%XSD: +18.3% a year, volatility 40.8%WELL: +26.0% a year, volatility 23.8%AMGN: +19.6% a year, volatility 24.9%GS: +19.6% a year, volatility 28.6%MS: +16.0% a year, volatility 28.8%TD: +15.8% a year, volatility 20.0%MFG: +33.6% a year, volatility 30.6%TJX: +19.9% a year, volatility 22.3%TTE: +18.0% a year, volatility 25.8%IBM: +16.6% a year, volatility 30.5%CIB: +32.9% a year, volatility 32.9%FCX: +13.7% a year, volatility 44.9%SPY (S&P 500): +12.7% a year, volatility 17.1%NEM: +18.6% a year, volatility 39.1%SCCO: +32.0% a year, volatility 40.7%AEM: +29.5% a year, volatility 38.4%BHP: +16.6% a year, volatility 31.4%TGB: +28.4% a year, volatility 63.5%TECK: +19.2% a year, volatility 45.3%MOG-A: +36.6% a year, volatility 32.0%ESLT: +39.8% a year, volatility 34.6%HEI: +17.3% a year, volatility 27.8%STLD: +32.2% a year, volatility 38.0%ATI: +61.8% a year, volatility 42.9%GD: +12.9% a year, volatility 20.8%SOXX: +27.5% a year, volatility 38.9%HALO: +26.6% a year, volatility 40.4%DHT: +38.7% a year, volatility 39.0%PSI: +24.3% a year, volatility 41.6%MCK: +38.7% a year, volatility 25.0%INSW: +56.5% a year, volatility 40.5%ASX: +48.8% a year, volatility 43.0%KEYS: +13.9% a year, volatility 34.5%CAH: +42.1% a year, volatility 24.7%FCXSPY (S&P 500)NEMSCCOAEMBHPTGBTECKMOG-AESLTHEIATIGDSOXXHALOPSIMCKINSWASXCAH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than FCX?

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

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

Screen the whole market against FCX 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 FCX?lower diversifies moreExpenseper year
FCXFreeport-McMoRan Inc. · this page
+13.7%44.9%0.51−72.6%+650%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.540.09%
Popular alternativesbest 6 shownThe investments people most often weigh against FCX. 7 of 16 passed at least one test.
NEMNewmont Corporation · Gold Mining
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+18.6%39.1%0.63−62.4%+304%0.53—
SCCOSouthern Copper Corporation · Metals & Mining
Higher return, lower volatilityHigher Sharpe, smaller worst decline+32.0%40.7%0.89−55.3%+1,017%0.78—
AEMAgnico Eagle Mines Limited · Gold Mining
Higher return, lower volatilityHigher Sharpe, smaller worst decline+29.5%38.4%0.87−54.2%+352%0.49—
BHPBHP Group Limited · Metals & Mining
Higher return, lower volatilityHigher Sharpe, smaller worst decline+16.6%31.4%0.65−44.3%+398%0.73—
TGBTrekor Metals Limited · Copper
Higher return in most periods+28.4%63.5%0.71−90.8%+1,667%0.69—
TECKTeck Resources Limited · Metals & Mining
Higher return, similar volatility+19.2%45.3%0.61−79.6%+259%0.62—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Metals & Mining and the categories next to it (Gold Mining, Aerospace & Defense, Silver, Gold), plus FCX's specific themes. 48 of 81 passed at least one test.
MOG-AMoog Inc. · Aerospace & Defense
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+36.6%32.0%1.14−63.7%+595%0.43—
ESLTElbit Systems Ltd. · Aerospace & Defense
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+39.8%34.6%1.15−35.4%+765%0.13—
HEIHEICO Corporation · Aerospace & Defense
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+17.3%27.8%0.71−57.7%+809%0.50—
STLDSteel Dynamics, Inc. · Metals & Mining
Higher return, lower volatilityHigher return in most periods+32.2%38.0%0.93−68.5%+1,018%0.54—
ATIATI Inc. · Metals & Mining
On the frontierHigher return, similar volatilityHigher return in most periods+61.8%42.9%1.34−82.4%+929%0.51—
GDGeneral Dynamics Corporation · Aerospace & Defense
Similar return, lower volatilityHigher Sharpe, smaller worst decline+12.9%20.8%0.69−51.6%+184%0.40—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 803 of 3,536 passed at least one test.
SOXXiShares Semiconductor ETF · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+27.5%38.9%0.82−45.8%+1,392%0.420.33%
HALOHalozyme Therapeutics, Inc. · Biotechnology
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+26.6%40.4%0.79−49.1%+1,196%0.29—
DHTDHT Holdings, Inc. · Marine Shipping
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+38.7%39.0%1.04−39.7%+1,050%0.24—
PSIInvesco Semiconductors ETF · Technology
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+24.3%41.6%0.73−44.9%+1,134%0.390.55%
MCKMcKesson Corporation · Health Care Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+38.7%25.0%1.44−38.1%+586%0.10—
INSWInternational Seaways, Inc. · Oil & Gas
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+56.5%40.5%1.31−57.4%—0.16—
ASXASE Technology Holding Co., Ltd. · Semiconductors
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+48.8%43.0%1.15−52.5%+967%0.42—
KEYSKeysight Technologies, Inc. · Electronic Equipment
Similar return, lower volatilityHigher return in most periodsSmaller losses in recent crashes+13.9%34.5%0.55−42.6%+923%0.33—
What these numbers mean for FCX
Annual return
FCX returned 13.7% 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 $19,000. 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
FCX's volatility over the past 5 years was 44.9%, 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, FCX's return lands within 44.9% 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
FCX's Sharpe ratio over the past 5 years was 0.51, against 0.79 for the S&P 500, so FCX 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
FCX's worst fall from a peak to a low over the past 10 years was 72.6%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 72.6% fall takes a 265% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, FCX's monthly returns had a correlation of 0.54 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 FCX instead: the lower it is, the more that option would diversify a FCX holding. Guide: Correlation and diversification →
Show all 459 stocks and funds worth at least $500 million that earned more than FCX 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 FCXExpense
1
SOXXiShares Semiconductor ETF · Semiconductors
Whole market+27.5%38.9%0.82−45.8%+1,392%0.420.33%
2
HALOHalozyme Therapeutics, Inc. · Biotechnology
Whole market+26.6%40.4%0.79−49.1%+1,196%0.29—
3
DHTDHT Holdings, Inc. · Marine Shipping
Whole market+38.7%39.0%1.04−39.7%+1,050%0.24—
4
PSIInvesco Semiconductors ETF · Technology
Whole market+24.3%41.6%0.73−44.9%+1,134%0.390.55%
5
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.10—
6
INSWInternational Seaways, Inc. · Oil & Gas
Whole market+56.5%40.5%1.31−57.4%—0.16—
7
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.23—
8
PSXPhillips 66 · Oil & Gas
Whole market+33.2%32.9%1.04−64.2%+430%0.33—
9
NWPXNWPX Infrastructure, Inc. · Construction Materials
Whole market+32.5%36.2%0.96−46.5%+682%0.33—
10
GOOGAlphabet Inc. · Internet Services
Whole market+19.0%32.0%0.71−44.6%+752%0.21—
11
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.0%25.6%0.94−61.4%+278%0.40—
12
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.05—
13
HPEHewlett Packard Enterprise Company · Computer Hardware
Whole market+32.9%42.2%0.89−56.9%+483%0.37—
14
NTAPNetApp, Inc. · Computer Hardware
Whole market+20.9%35.3%0.71−58.1%+691%0.31—
15
CATCaterpillar Inc. · Industrial Machinery
Whole market+31.1%31.9%1.01−43.4%+936%0.41—
16
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.36—
17
EXELExelixis, Inc. · Biotechnology
Whole market+24.4%35.8%0.79−57.2%+448%0.17—
18
EWYiShares MSCI South Korea ETF · International Equity
Whole market+16.2%34.0%0.61−49.7%+230%0.550.59%
19
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%0.31—
20
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+51.8%37.5%1.31−71.7%+768%0.16—
21
APHAmphenol Corporation · Electronic Components
Whole market+33.8%32.2%1.07−37.5%+965%0.33—
22
MSGSMadison Square Garden Sports Corp. · Entertainment
Whole market+18.4%25.6%0.79−41.6%+432%0.38—
23
IBKRInteractive Brokers Group, Inc. · Investment Banking & Brokerage
Whole market+35.4%35.4%1.04−55.1%+935%0.26—
24
VCTRVictory Capital Holdings, Inc. · Asset Management
Whole market+28.1%35.0%0.89−45.2%—0.43—
25
GRMNGarmin Ltd. · Computer Hardware
Whole market+14.8%31.6%0.59−54.6%+670%0.21—
26
MATXMatson, Inc. · Freight & Logistics
Whole market+24.9%39.4%0.76−53.6%+594%0.52—
27
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.12—
28
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.390.09%
29
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.470.19%
30
PHParker-Hannifin Corporation · Industrial Machinery
Whole market+27.4%28.8%0.99−54.7%+789%0.40—
31
ADIAnalog Devices, Inc. · Semiconductors
Whole market+19.5%34.1%0.69−33.6%+652%0.51—
32
MOG-AMoog Inc. · Aerospace & Defense
Same or nearby category+36.6%32.0%1.14−63.7%+595%0.43—
33
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%0.10—
34
PWRQuanta Services, Inc. · Engineering & Construction
Whole market+39.3%37.2%1.08−45.5%+2,045%0.26—
35
ETNEaton Corporation plc · Electrical Equipment
Whole market+20.4%32.1%0.74−44.5%+657%0.29—
36
VIRTVirtu Financial, Inc. · Capital Markets
Whole market+20.8%33.8%0.73−56.2%+545%0.33—
37
TTTrane Technologies plc · Building Products
Whole market+22.7%27.7%0.88−40.5%+955%0.35—
38
NEMNewmont Corporation · Gold Mining
Popular alternative+18.6%39.1%0.63−62.4%+304%0.53—
39
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.37—
40
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+21.0%26.8%0.85−50.8%+694%0.52—
41
CTASCintas Corporation · Business Services
Whole market+16.5%23.1%0.78−48.4%+808%0.37—
42
DGIIDigi International Inc. · Communication Equipment
Whole market+28.0%42.4%0.79−65.7%+587%0.18—
43
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.47—
44
EMEEMCOR Group, Inc. · Engineering & Construction
Whole market+43.0%35.3%1.20−48.0%+1,202%0.21—
45
AMALAmalgamated Financial Corp. · Banks - Regional
Whole market+24.7%33.4%0.83−62.9%—0.39—
46
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.21—
47
JBLJabil Inc. · Electronics Manufacturing
Whole market+35.8%39.6%0.97−57.3%+1,264%0.28—
48
UFCSUnited Fire Group, Inc. · Insurance - Property & Casualty
Whole market+23.7%39.1%0.74−64.5%+86.7%0.22—
49
AAPLApple Inc. · Computer Hardware
Whole market+18.5%28.0%0.75−38.5%+1,168%0.27—
50
CRAKVanEck Oil Refiners ETF · Energy
Whole market+19.8%20.9%0.97−58.8%+336%0.420.61%
51
CPACCementos Pacasmayo S.A.A. · Construction Materials
Whole market+24.4%38.8%0.74−55.9%+166%0.40—
52
NPKNational Presto Industries, Inc. · Aerospace & Defense
Whole market+16.3%27.3%0.69−45.5%+181%0.30—
53
COKECoca-Cola Consolidated, Inc. · Food & Beverages
Whole market+41.2%38.0%1.10−51.7%+1,569%0.04—
54
MLIMueller Industries, Inc. · Metal Fabrication
Whole market+38.9%33.4%1.16−53.0%+800%0.33—
55
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Whole market+31.5%38.5%0.91−56.6%+1,505%0.26—
56
FCNCAFirst Citizens BancShares, Inc. · Regional Banks
Whole market+20.4%41.4%0.64−47.5%+662%0.05—
57
NRGNRG Energy, Inc. · Independent Power Producers
Whole market+21.9%41.8%0.69−48.8%+933%0.20—
58
PBRPetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+50.3%37.5%1.28−75.3%+674%0.14—
59
RBCRBC Bearings Incorporated · Industrial Machinery
Whole market+16.8%29.9%0.67−40.8%+745%0.38—
60
MUSAMurphy USA Inc. · Convenience Stores
Whole market+26.1%31.2%0.90−35.5%+706%-0.20—
61
ENSGThe Ensign Group, Inc. · Health Care Facilities
Whole market+19.8%26.8%0.81−55.5%+896%0.36—
62
ESLTElbit Systems Ltd. · Aerospace & Defense
Same or nearby category+39.8%34.6%1.15−35.4%+765%0.13—
63
SNEXStoneX Group Inc. · Capital Markets
Whole market+33.0%37.3%0.96−48.7%+670%0.23—
64
VLOValero Energy Corporation · Oil & Gas
Whole market+44.2%36.9%1.18−71.9%+1,061%0.33—
65
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.14—
66
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.1%26.5%1.04−61.0%+214%0.33—
67
SPXCSPX Technologies, Inc. · Building Products
Whole market+21.8%36.3%0.72−50.3%+728%0.27—
68
FSSFederal Signal Corporation · Industrial Machinery
Whole market+23.3%31.7%0.82−33.0%+882%0.19—
69
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+537%0.34—
70
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.22—
71
HEIHEICO Corporation · Aerospace & Defense
Same or nearby category+17.3%27.8%0.71−57.7%+809%0.50—
72
SUSuncor Energy Inc. · Integrated Oil & Gas
Whole market+33.1%32.5%1.05−73.5%+295%0.24—
73
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.42—
74
HSBCHSBC Holdings plc · Banks
Whole market+33.1%25.9%1.24−62.3%+319%0.39—
75
RUSHARush Enterprises, Inc. · Industrial Distribution
Whole market+18.2%30.7%0.70−47.9%+663%0.39—
76
USLMUnited States Lime & Minerals, Inc. · Construction Materials
Whole market+35.6%36.1%1.03−45.9%+803%0.23—
77
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.430.48%
78
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.530.40%
79
CSWCSW Industrials, Inc. · Industrial Products
Whole market+17.1%34.4%0.63−46.2%+867%0.33—
80
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.38—
81
CVXChevron Corporation · Integrated Oil & Gas
Whole market+19.5%25.2%0.84−55.8%+238%0.45—
82
KENKenon Holdings Ltd. · Independent Power Producers
Whole market+26.0%39.0%0.79−66.1%+2,622%0.34—
83
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.2%29.4%1.13−54.9%+483%0.24—
84
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.32—
85
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.40—
86
SIISprott Inc. · Asset Management
Whole market+24.9%39.2%0.76−49.2%+786%0.52—
87
SHELShell plc · Integrated Oil & Gas
Whole market+21.0%24.8%0.90−67.2%+233%0.25—
88
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%0.26—
89
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.44—
90
XSDState Street SPDR S&P Semiconductor ETF · Technology
Whole market+18.3%40.8%0.62−42.3%+857%0.430.35%
91
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.25—
92
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%0.33—
93
GSThe Goldman Sachs Group, Inc. · Capital Markets
Whole market+19.6%28.6%0.77−48.8%+521%0.45—
94
MSMorgan Stanley · Capital Markets
Whole market+16.0%28.8%0.66−51.3%+627%0.40—
95
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.52—
96
MFGMizuho Financial Group, Inc. · Banks
Whole market+33.6%30.6%1.10−45.7%+345%0.28—
97
TJXThe TJX Companies, Inc. · Specialty Retail
Whole market+19.9%22.3%0.93−42.5%+361%0.18—
98
TTETotalEnergies SE · Integrated Oil & Gas
Whole market+18.0%25.8%0.78−59.6%+234%0.28—
99
IBMInternational Business Machines Corporation · IT Services
Whole market+16.6%30.5%0.66−41.1%+151%0.12—
100
CIBGrupo Cibest S.A. · Banks
Whole market+32.9%32.9%1.03−70.4%+345%0.38—

FCX against its popular alternatives

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

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

Green points earned more than FCX 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%80.0%−5.0%0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityFCX: 13.7% a year, volatility 44.9%SPY (S&P 500): 12.7% a year, volatility 17.1%SCCO: 32.0% a year, volatility 40.7%NEM: 18.6% a year, volatility 39.1%AEM: 29.5% a year, volatility 38.4%COPX: 17.3% a year, volatility 37.5%BHP: 16.6% a year, volatility 31.4%ERO: 9.8% a year, volatility 56.0%NEXA: 4.2% a year, volatility 56.7%GOLD: 6.3% a year, volatility 48.0%AA: −3.9% a year, volatility 55.1%TGB: 28.4% a year, volatility 63.5%HBM: 26.3% a year, volatility 55.8%CENX: 15.8% a year, volatility 70.6%TECK: 19.2% a year, volatility 45.3%RIO: 12.2% a year, volatility 29.0%VALE: 7.4% a year, volatility 35.0%PICK: 10.4% a year, volatility 28.1%FCXSPY (S&P 500)SCCONEMAEMCOPXBHPERONEXAGOLDAATGBHBMCENXTECKRIOVALEPICK0.0%20.0%40.0%60.0%80.0%−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 volatilityFCX: 13.7% a year, volatility 44.9%SPY (S&P 500): 12.7% a year, volatility 17.1%SCCO: 32.0% a year, volatility 40.7%NEM: 18.6% a year, volatility 39.1%AEM: 29.5% a year, volatility 38.4%COPX: 17.3% a year, volatility 37.5%BHP: 16.6% a year, volatility 31.4%ERO: 9.8% a year, volatility 56.0%NEXA: 4.2% a year, volatility 56.7%GOLD: 6.3% a year, volatility 48.0%AA: −3.9% a year, volatility 55.1%TGB: 28.4% a year, volatility 63.5%HBM: 26.3% a year, volatility 55.8%CENX: 15.8% a year, volatility 70.6%TECK: 19.2% a year, volatility 45.3%RIO: 12.2% a year, volatility 29.0%VALE: 7.4% a year, volatility 35.0%PICK: 10.4% a year, volatility 28.1%FCXSPY (S&P 500)SCCONEMAEMCOPXERONEXAGOLDAATGBHBMCENXTECKVALEPICK
All figures
InvestmentAnnual returnVolatility
SCCO Southern Copper Corporation+32.0%40.7%
AEM Agnico Eagle Mines Limited+29.5%38.4%
TGB Trekor Metals Limited+28.4%63.5%
HBM Hudbay Minerals Inc.+26.3%55.8%
TECK Teck Resources Limited+19.2%45.3%
NEM Newmont Corporation+18.6%39.1%
COPX Global X - Copper Miners ETF+17.3%37.5%
BHP BHP Group Limited+16.6%31.4%
CENX Century Aluminum Company+15.8%70.6%
FCX This pageFreeport-McMoRan Inc.+13.7%44.9%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
RIO Rio Tinto Group+12.2%29.0%
PICK iShares MSCI Global Metals & Mining Producers ETF+10.4%28.1%
ERO Ero Copper Corp.+9.8%56.0%
VALE Vale S.A.+7.4%35.0%
GOLD Gold.com, Inc.+6.3%48.0%
NEXA Nexa Resources S.A.+4.2%56.7%
AA Alcoa Corporation−3.9%55.1%
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Has FCX consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than FCX 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
FCX Freeport-McMoRan Inc. (this page)—−4.3%+17.4%−1.4%+33.9%+64.8%+111%+89.6%+650%44.9%0.51−72.6%—$99B—
TGB QualifiedTrekor Metals Limited3/5 short3/3 long−8.3%+13.2%+3.1%+42.0%+100%+616%+249%+1,667%63.5%0.71−90.8%—$2.9B—
SCCO QualifiedSouthern Copper Corporation3/5 short3/3 long+2.2%+17.6%+9.6%+39.9%+56.5%+233%+301%+1,017%40.7%0.89−55.3%—$171B—
NEM GoldNewmont Corporation2/5 short2/3 long−5.1%+31.2%+2.2%+16.1%+24.3%+219%+135%+304%39.1%0.63−62.4%—$123B—
AEM GoldAgnico Eagle Mines Limited1/5 short2/3 long−5.7%+36.9%−13.5%+10.0%+5.3%+293%+264%+352%38.4%0.87−54.2%—$94B—
HBM CopperHudbay Minerals Inc.0/5 short2/3 long−11.2%+13.6%−7.8%+17.9%+44.2%+445%+221%+493%55.8%0.70−86.3%—$11B—
COPX MaterialsGlobal X - Copper Miners ETF0/5 short2/3 long−9.5%+7.2%−7.9%+8.7%+30.5%+151%+122%+471%37.5%0.62−65.4%0.65%$6.9B—
CENX AluminumCentury Aluminum Company0/5 short2/3 long−14.3%−21.8%−45.4%−18.2%−2.2%+452%+109%+358%70.6%0.56−87.5%—$3.3B—
TECK CopperTeck Resources Limited3/5 short1/3 long−3.6%+18.2%+9.1%+34.5%+46.2%+68.6%+141%+259%45.3%0.61−79.6%—$31B—
BHP Industrial MaterialsBHP Group Limited2/5 short1/3 long−4.9%+3.9%+5.1%+38.1%+50.2%+71.0%+115%+398%31.4%0.65−44.3%—$208B—
ERO CopperEro Copper Corp.2/5 short1/3 long−5.2%+31.1%+15.9%+13.3%+45.0%+138%+59.8%—56.0%0.45−67.2%—$3.4B—
NEXA Industrial MaterialsNexa Resources S.A.2/5 short1/3 long−4.3%+3.4%−22.3%+41.5%+121%+135%+23.1%—56.7%0.36−85.0%—$1.6B—
GOLD Financial - Capital MarketsGold.com, Inc.0/5 short0/3 long−12.8%+4.3%−19.0%+13.6%+39.4%+45.4%+35.5%+603%48.0%0.37−62.6%—$1.1B—
RIO Industrial MaterialsRio Tinto Group0/5 short0/3 long−9.2%+1.1%−9.7%+10.6%+30.1%+69.2%+77.9%+464%29.0%0.54−37.5%—$143B—
VALE Industrial MaterialsVale S.A.0/5 short0/3 long−8.0%−5.5%−24.9%+1.0%+23.6%+37.8%+42.6%+334%35.0%0.38−57.6%—$55B—
PICK InternationaliShares MSCI Global Metals & Mining Producers ETF0/5 short0/3 long−6.3%+3.4%−8.0%+11.4%+27.9%+73.1%+63.9%+267%28.1%0.49−52.7%0.39%$2.4B—
AA AluminumAlcoa Corporation0/5 short0/3 long−8.6%−6.0%−38.5%−27.5%+5.5%+75.8%−18.2%+115%55.1%0.20−90.9%—$11B—
IE CopperIvanhoe Electric Inc.0/5 short0/3 long−14.2%+4.6%−45.1%−48.3%−49.6%−22.0%————−71.1%—$1.3B—
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How did FCX do year by year?

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

InvestmentYears ahead of FCX20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
FCX This pageFreeport-McMoRan Inc.—+35.4%−9.4%+13.7%−7.3%+61.4%+99.1%+29.6%−45.1%+43.8%+94.9%−70.2%−35.8%+19.9%−4.0%−36.9%+52.7%+228%−75.5%+86.9%+11.6%+49.1%−6.6%+154%+25.5%+56.5%−59.5%+102%−32.9%−45.6%
Rank among alternativesTop quarter in 7 of 2914 of 1812 of 187 of 1810 of 173 of 173 of 176 of 1713 of 178 of 154 of 1513 of 1511 of 142 of 1412 of 137 of 133 of 124 of 127 of 125 of 1210 of 125 of 129 of 124 of 114 of 92 of 99 of 93 of 98 of 97 of 9
SPY S&P 500State Street SPDR S&P 500 ETF15 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%
TGB Trekor Metals Limited14 of 29+192%+38.6%−4.8%−28.3%+55.3%+175%+1.5%−79.7%+173%+151%−67.0%−51.4%−29.3%+9.9%−48.0%+24.4%+640%−89.0%+100%+112%−29.1%+3.0%+519%−6.9%−59.7%−49.0%−47.6%−4.3%−50.1%
SCCO Southern Copper Corporation21 of 29+66.7%+10.7%+50.3%+4.5%−0.4%+59.0%+44.6%−33.0%+50.3%+23.1%−6.2%−0.3%−22.5%+41.2%−33.4%+56.3%+109%−50.2%+111%+79.5%+60.3%+7.2%+236%+23.5%−4.2%−14.2%+65.5%−26.5%−1.5%
NEM Newmont Corporation10 of 29+173%−7.8%−8.8%−20.8%+7.4%+40.3%+30.5%−6.2%+10.9%+90.1%−4.4%−17.2%−48.5%−20.4%−0.6%+31.0%+17.3%−15.9%+9.1%−14.8%+21.4%−8.1%+68.2%+52.6%+12.7%−29.9%+35.0%−37.7%−34.1%
AEM Agnico Eagle Mines Limited15 of 29+120%+46.0%+9.0%+1.1%−22.8%+16.2%+54.2%−11.5%+10.5%+61.2%+6.8%−4.7%−48.3%+47.1%−52.1%+42.5%+5.6%−5.8%+32.9%+109%+43.9%+14.2%−18.6%+50.8%+65.0%−19.2%+82.3%−23.1%−61.3%
HBM Hudbay Minerals Inc.9 of 22+145%+47.2%+9.1%−29.9%+3.9%+69.4%−11.5%−46.3%+54.9%+49.3%−55.8%+6.2%−17.8%+3.3%−44.7%+41.9%+407%−87.0%+4.7%+272%+179%−67.5%———————
COPX Global X - Copper Miners ETF8 of 15+93.5%+3.5%+8.4%−0.8%+23.4%+51.5%+12.6%−31.3%+38.9%+70.4%−45.9%−19.6%−27.5%+4.8%−31.0%——————————————
CENX Century Aluminum Company11 of 29+115%+50.1%+48.4%−50.6%+50.1%+46.7%+2.9%−62.8%+129%+93.7%−81.9%+133%+19.4%+2.9%−45.2%−4.1%+61.9%−81.5%+20.8%+70.3%−0.2%+38.1%+157%−43.8%+18.5%−22.8%+63.4%−28.9%−20.7%
TECK Teck Resources Limited10 of 23+19.2%−2.6%+14.0%+33.8%+59.8%+5.8%−18.7%−16.9%+33.4%+421%−71.1%−44.9%−25.8%+5.9%−42.1%+78.7%+611%−86.1%−2.8%+47.1%+81.7%+87.5%+148%——————
BHP BHP Group Limited14 of 29+28.9%−24.6%+16.4%+29.4%+2.0%+25.3%+24.6%+10.5%+33.8%+41.9%−38.1%−27.9%−9.8%+14.9%−22.0%+24.5%+85.2%−37.4%+79.4%+21.2%+42.0%+34.3%+62.6%+50.4%+8.7%−16.6%+91.5%−18.9%−32.0%
ERO Ero Copper Corp.4 of 8+110%−14.6%+14.8%−10.1%−5.7%−11.0%+152%+21.5%—————————————————————
NEXA Nexa Resources S.A.3 of 8+2.7%+23.3%+21.8%−20.0%−16.4%+28.6%−28.3%−37.4%—————————————————————
GOLD Gold.com, Inc.6 of 11+29.5%−7.4%−8.9%+18.4%+146%+241%−29.9%−18.9%−23.4%+5.0%+92.2%——————————————————
RIO Rio Tinto Group16 of 29+44.5%−15.4%+11.1%+18.4%−0.4%+36.2%+37.5%−2.9%+44.9%+39.2%−33.4%−15.3%+0.6%+22.4%−30.5%+35.3%+195%−78.5%+102%+23.6%+57.1%+9.7%+45.6%+5.1%+12.6%−20.9%+115%−8.9%−16.4%
VALE Vale S.A.12 of 23+66.3%−38.8%+1.6%+32.5%−1.7%+32.0%+2.7%+12.3%+62.2%+134%−57.8%−44.1%−23.2%+3.3%−34.0%+21.2%+145%−61.8%+123%+47.5%+46.9%+50.6%+108%——————
PICK iShares MSCI Global Metals & Mining Producers ETF5 of 13+51.9%−16.4%+9.7%+2.6%+22.6%+27.5%+16.5%−18.6%+38.5%+54.7%−40.5%−19.7%−8.3%————————————————
AA Alcoa Corporation13 of 29+42.5%+12.5%−24.3%−23.1%+159%+7.1%−19.1%−50.7%+91.8%+28.3%−36.8%+49.9%+24.3%+1.7%−43.3%−3.6%+47.7%−68.2%+24.3%+4.2%−3.7%−15.7%+71.3%−34.5%+8.0%−17.9%+126%+7.7%+11.9%
IE Ivanhoe Electric Inc.1 of 3+112%−25.1%−17.0%——————————————————————————
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Risk and diversification

How FCX 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 FCX's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents FCX'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 FCX fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringFCX fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2015 China and oil sell-off−92.5%+62.7%Jan 2011Jan 20165 yearsMar 20226.2 years
2008 financial crisis−86.4%−37.4%May 2008Dec 20087 monthsJan 20112.1 years
Dot-com bust−80.1%+118%May 1996Nov 20004.5 yearsSep 20032.8 years
2022 bear market−51.3%−16.2%Mar 2022Jul 20224 monthsApr 202421 months
No named crash−46.3%−3.5%May 2024Apr 202511 monthsJan 20269 months

How did FCX do in stock market crashes?

This section measures how far FCX, 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 FCX.

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
FCX This pageFreeport-McMoRan Inc.—−7.2%−51.3%−56.1%−32.8%−8.4%−72.2%−46.7%−2.1%−86.4%−51.4%
SPY S&P 500State Street SPDR S&P 500 ETF10 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
TGB Trekor Metals Limited5 of 10−6.3%−61.9%−50.2%−44.2%−5.4%−55.6%−48.6%−1.2%−91.2%−82.1%
SCCO Southern Copper Corporation10 of 10−3.4%−43.0%−38.7%−32.0%−5.3%−26.0%−32.9%−0.4%−78.5%−42.5%
NEM Newmont Corporation7 of 10−1.0%−51.8%−24.5%−9.5%−6.0%−20.2%−12.0%−2.3%−61.5%−53.0%
AEM Agnico Eagle Mines Limited10 of 100.0%−42.0%−31.6%−11.6%−6.4%−20.2%−18.9%−0.4%−72.9%−42.4%
HBM Hudbay Minerals Inc.3 of 9−9.2%−63.3%−57.9%−30.1%−10.0%−74.5%−38.9%0.0%−91.9%—
COPX Global X - Copper Miners ETF8 of 8−5.1%−42.1%−47.4%−20.1%−7.5%−46.2%−45.8%−0.2%——
CENX Century Aluminum Company4 of 10−19.8%−82.1%−51.8%−48.6%−5.2%−59.6%−45.5%−4.3%−98.7%−72.6%
TECK Teck Resources Limited5 of 9−8.2%−43.6%−54.0%−26.9%−8.1%−65.4%−48.9%0.0%−94.8%—
BHP BHP Group Limited10 of 10−2.2%−31.8%−38.1%−12.8%−6.4%−49.4%−30.7%0.0%−73.7%−32.6%
ERO Ero Copper Corp.5 of 5−6.2%−49.1%−53.9%−29.2%−6.3%—————
NEXA Nexa Resources S.A.3 of 5−5.1%−53.3%−68.0%−14.3%−7.1%—————
GOLD Gold.com, Inc.5 of 6−2.0%−43.6%−14.7%−20.9%−15.8%−19.6%————
RIO Rio Tinto Group9 of 10−2.6%−35.3%−30.0%−13.2%−5.3%−43.9%−41.3%0.0%−89.0%−33.9%
VALE Vale S.A.9 of 9−3.1%−41.4%−45.5%−20.9%−5.3%−61.1%−33.4%−0.8%−79.5%—
PICK iShares MSCI Global Metals & Mining Producers ETF6 of 6−4.0%−36.4%−41.4%−18.0%−6.2%−41.8%————
AA Alcoa Corporation4 of 10−12.4%−64.5%−67.2%−42.6%−7.1%−38.6%−43.6%0.0%−87.8%−59.3%
IE Ivanhoe Electric Inc.0 of 1−15.4%—————————
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How closely does FCX 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 FCX 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 FCX's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
FCX This pageFreeport-McMoRan Inc.164%181%0.901.74
GOLD Gold.com, Inc.70%2%37.130.10
NEM Newmont Corporation68%45%1.520.39
SCCO Southern Copper Corporation139%103%1.351.13
RIO Rio Tinto Group98%72%1.350.63
AEM Agnico Eagle Mines Limited77%57%1.340.70
VALE Vale S.A.100%88%1.130.74
BHP BHP Group Limited106%97%1.100.87
TGB Trekor Metals Limited217%214%1.011.89
COPX Global X - Copper Miners ETF144%155%0.931.35
TECK Teck Resources Limited115%128%0.901.10
PICK iShares MSCI Global Metals & Mining Producers ETF115%133%0.861.12
HBM Hudbay Minerals Inc.193%234%0.821.95
CENX Century Aluminum Company218%296%0.742.41
AA Alcoa Corporation187%303%0.622.17
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What diversifies FCX?

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

ETFs

InvestmentCorrelation5Y returnSharpe20242022201820152014201220112008200420001998199780/20 mix volatility80/20 mix annual return
FCX Freeport-McMoRan Inc. (this page)1.00+89.6%0.51−9.4%−7.3%−45.1%−70.2%−35.8%−4.0%−36.9%−75.5%−6.6%−59.5%−32.9%−45.6%40.9%+18.2%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.43+225%1.34+29.8%+6.0%−19.8%+7.7%+8.1%+19.6%−16.1%−20.8%————33.9%+21.2%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.48+101%1.04+33.4%+10.4%−8.7%−25.3%+23.8%———————34.2%+18.8%
FTLS Broad MarketFirst Trust Long/Short Equity ETF0.42+62.9%0.99+18.8%−5.6%−4.8%+4.7%————————33.5%+18.0%
SMH TechnologyVanEck Semiconductor ETF0.41+323%0.97+39.1%−33.5%−9.1%−0.3%+30.2%+8.6%+6.8%−44.7%−19.3%———36.1%+23.4%
GLD CommoditiesSPDR Gold Shares0.44+126%0.96+26.7%−0.8%−1.9%−10.7%−2.2%+6.6%+9.6%+4.9%————34.4%+19.4%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.34+136%0.93+45.8%−10.4%−0.9%—————————34.3%+20.2%
XLE EnergyState Street Energy Select Sector SPDR ETF0.43+177%0.93+5.6%+64.4%−18.2%−21.5%−8.7%+5.2%+2.8%−39.0%+33.8%+24.4%——35.3%+20.4%
EWT TechnologyiShares MSCI Taiwan ETF0.48+153%0.89+16.1%−28.9%−9.9%−12.9%+7.0%+18.6%−21.8%−45.3%+8.0%———35.4%+20.1%

Stocks

InvestmentCorrelation5Y returnSharpe20242022201820152014201220112008200420001998199780/20 mix volatility80/20 mix annual return
FCX Freeport-McMoRan Inc. (this page)1.00+89.6%0.51−9.4%−7.3%−45.1%−70.2%−35.8%−4.0%−36.9%−75.5%−6.6%−59.5%−32.9%−45.6%40.9%+18.2%
CAH Medical - DistributionCardinal Health, Inc.0.21+479%1.55+19.0%+54.1%−24.5%+12.6%+23.0%+3.8%+8.1%−39.6%−4.7%+108%+51.7%+29.1%34.2%+23.6%
CLS Hardware, Equipment & PartsCelestica Inc.0.04+3,143%1.47+215%+1.3%−16.3%−6.0%+12.9%+11.2%−24.4%−20.5%−6.4%−2.3%——35.2%+37.4%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.15+1,636%1.46+107%+17.0%+0.8%+67.7%−10.4%+15.7%−17.0%−15.2%+40.0%−71.1%−9.5%—35.2%+32.8%
MCK Medical - DistributionMcKesson Corporation0.10+413%1.44+23.7%+51.8%−28.4%−4.5%+29.3%+25.6%+11.8%−40.4%−1.4%+61.2%+46.9%+96.3%33.6%+23.2%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.31+690%1.41−4.0%+86.6%−8.2%+17.4%+0.4%+94.3%——————35.3%+25.5%
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Common questions

What was FCX's worst drawdown?

FCX's deepest decline since it began trading in 1995 was 92.5%, from January 2011 to January 2016. It took about six years from the low to climb back to its old high.

What were FCX's best and worst years?

Over 29 full calendar years, FCX's best year was 2009, when it returned 228%. Its worst was 2008, with a return of -75.5%.

Is there a better investment than FCX?

Among FCX's popular alternatives, NEM, SCCO and AEM earned more than FCX with less volatility over the past 5 years. NEM returned 18.6% a year at 39.1% volatility, against 13.7% a year at 44.9%. Looking beyond its popular alternatives, MOG-A (aerospace & defense) and ESLT (aerospace & defense) earned more than FCX with less volatility over the past 5 years. MOG-A returned 36.6% a year at 32.0% volatility, against 13.7% a year at 44.9%.

Is FCX more volatile than the S&P 500?

Yes. FCX's volatility over the past 5 years was 44.9%, 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, FCX's return lands within 44.9% 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 FCX's Sharpe ratio?

FCX's Sharpe ratio over the past 5 years was 0.51, against 0.79 for the S&P 500, so FCX 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 FCX with the S&P 500?

Over the past 5 years, FCX's monthly returns had a correlation of 0.54 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 FCX instead: the lower it is, the more that option would diversify a FCX holding.

What are the best alternatives to FCX?

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

Did FCX outperform the S&P 500?

FCX finished ahead of the S&P 500 (SPY) in 14 of 29 full calendar years. In 2025, it returned +35.4%, against +17.7% for the index.

How did FCX do in stock market crashes?

FCX fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in ten. The clearest case was the 2015 China and oil sell-off, when FCX fell 72.2% and the S&P 500 fell 12.8%.

What diversifies FCX?

These had a low correlation with FCX over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.43), EMLP (correlation 0.48) and FTLS (correlation 0.42); among large stocks, CAH (correlation 0.21), CLS (correlation 0.04) and FIX (correlation 0.15). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to FCX

Other stocks and ETFs