Relative Intelligence · Automobiles
How General Motors (GM) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on GM alone. It places GM (General Motors Company) against 16 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 GM stands in the market, and of the alternatives worth a closer look.
Period covered: GM's full trading record, from November 2010 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.
Data as of October 20, 2026. Full tables and charts read best on a larger screen.
On this page12 sections
Key findings
- Right nowOver the past 6 months, GM fell 3.9% while the S&P 500 rose 9.1%. Not every peer went the same way. Over the past 6 months, HMC (Honda Motor) rose 35.1% and RIVN (Rivian Automotive) fell 26.5%. Consistency ↓
- Stock or market?GM rose 1.9% over the past 3 months, in line with the consumer discretionary sector ETF XLY (State Street Consumer Discretionary Select Sector SPDR ETF), which rose 1.0%. The S&P 500 rose 3.9%. Its automobile peers did not move as one over the past 3 months: HMC (Honda Motor) rose 21.6%, while RIVN (Rivian Automotive) fell 27.9%.
- Past 1 to 3 yearsGM has run far ahead of the market, rising 34.0% over the past year against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (168% against 89.3%). GM lagged its automobile peers in 2023, then moved up the pack in 2025. By year ↓
- Long termGM turned $10,000 into $29,300 over the past decade, against $42,100 in the S&P 500. On the flip side, over the past decade, only TSLA (Tesla) and RACE (Ferrari) of its automobile peers outpaced GM. Growth of $10,000 ↓
- In a crashGM fell harder than the S&P 500 in four of five sell-offs. The late-2018 sell-off was the exception: GM fell 14.9%, less than the S&P 500's 19.3%. Even so, in the 2022 bear market, GM fell 53.0%, against 24.5% for the S&P 500. That was more than TSLA (Tesla, 45.4%) but less than F (Ford Motor, 55.6%). Crash tests ↓
- DiversificationAgainst the S&P 500, GM has a correlation of 0.65 over 5 years, more closely than 96% of stocks worth at least $300 million. Next to an index fund it is more of the same, not a cushion. Market capture ↓
- Better options
- Nearby categories and themes
- ALSN (Allison Transmission, auto parts) and NEU (NewMarket, specialty chemicals) earned more than GM with less volatility over the past 5 years. ALSN returned 27.3% a year at 29.9% volatility, against 6.9% a year at 36.7%.
- Versus the S&P 500
- Simply owning the S&P 500 would have done better over the past 5 years: 12.7% a year at 17.1% volatility, against 6.9% at 36.7% for GM.
- Whole market
- 978 of the 3,633 stocks and funds worth at least $500 million earned more than GM with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and MSFT (Microsoft).
How much would $10,000 in GM have grown?
This chart tracks a hypothetical $10,000 investment in GM over the past 15 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of GM over the same span and GM'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.
Note: GM began trading on November 18, 2010, so the chart cannot reach back to the dot-com bust, the 2008 financial crisis or the 2010 flash crash. It covers the most recent 15 years of GM's record, starting at the end of September 2011.
- $10,000 invested in GM at the end of September 2011 would have grown to $51,470 by September 2026, less than the $87,526 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of GM, and TSLA finished highest, at $2,176,702.
Choose a period
From the end of September 2011 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. 991 of the 2,130 stocks and funds worth at least $500 million that traded the whole period ended ahead of GM; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- TSLA$2M+21,667% total · +43.2% a year
- LLY$435,634+4,256% total · +28.6% a year
- SPY (S&P 500)$87,526+775% total · +15.6% a year
- NEU$84,437+744% total · +15.3% a year
- ECL$66,326+563% total · +13.4% a year
- MGA$57,933+479% total · +12.4% a year
- GM$51,470+415% total · +11.5% a year
- TM$41,324+313% total · +9.9% a year
- BWA$27,187+172% total · +6.9% a year
- HMC$17,267+72.7% total · +3.7% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,517 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of GM; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- ALSN$34,562+246% total · +28.2% a year
- NEU$29,325+193% total · +24.0% a year
- RACE$19,540+95.4% total · +14.3% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- BWA$16,951+69.5% total · +11.1% a year
- DD$16,760+67.6% total · +10.9% a year
- GM$15,245+52.4% total · +8.8% a year
- TSLA$13,726+37.3% total · +6.5% a year
- HMC$12,319+23.2% total · +4.3% a year
- MGA$10,111+1.1% total · +0.2% a year
GM 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.
Note: GM began trading on November 18, 2010, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust, the 2008 financial crisis or the 2010 flash crash.
- GM's deepest decline since it began trading in 2010 was 59.9%, from October 2017 to March 2020. It took eight months from the low to climb back to its old high.
- Over 15 full calendar years, GM's best was 2025, when it returned 54.2%, and its worst was 2011, when it lost 45.0%. It lost money in four of those years.
- GM is 14.4% below its all-time high.
The company
- Market value
- $68B
- Industry
- Auto - Manufacturers
- Price history from
- November 2010
Returns
- Past 1 year
- +34.0%total return
- Past 3 years
- +168%+38.9% a year
- Past 5 years
- +39.5%+6.9% a year
- Past 10 years
- +193%+11.3% a year
- Best calendar year
- +54.2%2025
- Worst calendar year
- −45.0%2011
- Losing years
- 4 of 15full calendar years
Risk
- Volatility
- 36.7%typical yearly swing, 5 years
- Sharpe ratio
- 0.36return per unit of risk, 5 years
- Worst decline ever
- −59.9%Oct 2017 to Mar 2020
- From its all-time high
- −14.4%below the peak
GM against the whole market
Where GM ranks among every stock and fund, and what across the market has done better.
How does GM rank among all stocks?
This section ranks GM 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 GM stacks up against its peers, these rankings show where it stands in the market as a whole.
- GM's 3-year return ranks in the top 17% of the 3,017 stocks worth at least $300 million with 3 years of history.
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.
| Measure | GM | Rank | Standing |
|---|---|---|---|
| 1-year return | +34.0% | 873 of 3,287 | top 27% |
| 3-year return | +168% | 499 of 3,017 | top 17% |
| 5-year return | +39.5% | 1,220 of 2,893 | top 42% |
| 10-year return | +193% | 894 of 2,202 | top 41% |
| Volatility, 5 years | 36.7% | 1,251 of 2,893 | top 43% |
| Sharpe ratio, 5 years | 0.36 | 1,346 of 2,893 | top 47% |
| Worst decline, past 10 years | −59.9% | 872 of 2,187 | top 40% |
What has beaten GM 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). GM sits where the dashed lines cross. Anything in the green box above and to the left earned more than GM 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.
- 492 stocks and 486 ETFs worth at least $500 million sit in the green region: each earned more than GM over the past 5 years with smaller price swings. That is 27% of the 3,633 screened.
- Among those with at least half GM's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 33% less than GM's 36.7%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.36 for GM. MPC earned the most, 51.2% a year, while still swinging less than GM (33.4% against 36.7%).
- Among GM's popular alternatives, RACE and BWA are in the region. RACE earned 13.3% a year against 6.9% a year for GM, at 30.0% volatility, 18% less than GM's 36.7%.
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 GM; faint dots are 92 more of the 978 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.
- Popular alternatives
- Same and neighboring categories, and shared themes
- The whole market
- Others in the green region
Is there a better investment than GM?
Investments that beat GM over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among GM's popular alternatives, RACE and BWA earned more than GM with less volatility over the past 5 years. RACE returned 13.3% a year at 30.0% volatility, against 6.9% a year at 36.7%.
- Looking beyond its popular alternatives, ALSN (auto parts) and NEU (specialty chemicals) earned more than GM with less volatility over the past 5 years. ALSN returned 27.3% a year at 29.9% volatility, against 6.9% a year at 36.7%.
- Simply owning the S&P 500 would have done better over the past 5 years: 12.7% a year at 17.1% volatility, against 6.9% at 36.7% for GM.
How this works
The table below lists investments that beat GM 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 GM'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 GM 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 GM'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× GM's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than GM's.
| Investment | Why it is better | Past 5 years | Downside | Long run | Fit | ||||
|---|---|---|---|---|---|---|---|---|---|
| Annual return?higher is better | Volatility?lower is calmer | Sharpe?return per unit of risk | Worst decline?past 10 years | 10Y returntotal | Corr. with GM?lower diversifies more | Expenseper year | |||
| GMGeneral Motors Company · this page | +6.9% | 36.7% | 0.36 | −59.9% | +193% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.65 | 0.09% | ||
| Popular alternativesbest 3 shownThe investments people most often weigh against GM. 3 of 15 passed at least one test. | |||||||||
 RACEFerrari N.V. · Automobiles | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +13.3% | 30.0% | 0.57 | −39.2% | +711% | 0.32 | — | |
BWABorgWarner Inc. · Auto Parts | Higher return, lower volatility | +9.3% | 34.6% | 0.43 | −64.6% | +121% | 0.51 | — | |
 HMCHonda Motor Co., Ltd. · Automobiles | Similar return, lower volatility | +6.1% | 27.5% | 0.35 | −42.0% | +63.3% | 0.36 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Automobiles and the categories next to it (Auto Parts, Specialty Chemicals), plus GM's specific themes. 7 of 24 passed at least one test. | |||||||||
ALSNAllison Transmission Holdings, Inc. · Auto Parts | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +27.3% | 29.9% | 0.96 | −48.7% | +367% | 0.43 | — | |
NEUNewMarket Corporation · Specialty Chemicals | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +21.0% | 26.8% | 0.85 | −40.7% | +165% | 0.14 | — | |
DDDuPont de Nemours, Inc. · Specialty Chemicals | Higher return, lower volatility | +9.8% | 30.0% | 0.46 | −73.0% | +65.8% | 0.44 | — | |
GTXGarrett Motion Inc. · Auto Parts | Higher return in most periods | +27.0% | 41.4% | 0.78 | −93.1% | — | 0.16 | — | |
 ECLEcolab Inc. · Specialty Chemicals | Similar return, lower volatility | +6.7% | 24.1% | 0.39 | −43.7% | +176% | 0.45 | — | |
ESIElement Solutions Inc · Specialty Chemicals | Higher return, similar volatility | +11.2% | 36.0% | 0.47 | −56.3% | +412% | 0.36 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,445 of 3,594 passed at least one test. | |||||||||
 LLYEli Lilly and Company · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +40.7% | 32.8% | 1.21 | −34.5% | +1,807% | 0.04 | — | |
 KOThe Coca-Cola Company · Food & Beverages | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.10 | — | |
 MRKMerck & Co., Inc. · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +16.3% | 24.8% | 0.74 | −43.4% | +241% | 0.09 | — | |
 CMECME Group Inc. · Capital Markets | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +11.2% | 20.8% | 0.62 | −37.4% | +319% | 0.20 | — | |
 RSGRepublic Services, Inc. · Environmental Services | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.17 | — | |
 VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.66 | 0.03% | |
 PWRQuanta Services, Inc. · Engineering & Construction | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +39.3% | 37.2% | 1.08 | −45.5% | +2,045% | 0.26 | — | |
VHTVanguard Health Care ETF · Health Care Equity | Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +7.3% | 15.4% | 0.53 | −28.9% | +200% | 0.38 | 0.09% | |
What these numbers mean for GM
- Annual return
- GM returned 6.9% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $14,000. 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
- GM's volatility over the past 5 years was 36.7%, 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, GM's return lands within 36.7% 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
- GM's Sharpe ratio over the past 5 years was 0.36, against 0.79 for the S&P 500, so GM 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
- GM's worst fall from a peak to a low over the past 10 years was 59.9%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 59.9% fall takes a 150% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, GM's monthly returns had a correlation of 0.65 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 GM instead: the lower it is, the more that option would diversify a GM holding. Guide: Correlation and diversification →
Show all 978 stocks and funds worth at least $500 million that earned more than GM 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.
| # | Investment | Found in | Annual return | Volatility | Sharpe | Worst decline | 10Y return | Corr. with GM | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | LLYEli Lilly and Company · Pharmaceuticals | Whole market | +40.7% | 32.8% | 1.21 | −34.5% | +1,807% | 0.04 | — |
| 2 | KOThe Coca-Cola Company · Food & Beverages | Whole market | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.10 | — |
| 3 | MRKMerck & Co., Inc. · Pharmaceuticals | Whole market | +16.3% | 24.8% | 0.74 | −43.4% | +241% | 0.09 | — |
| 4 | CMECME Group Inc. · Capital Markets | Whole market | +11.2% | 20.8% | 0.62 | −37.4% | +319% | 0.20 | — |
| 5 | RSGRepublic Services, Inc. · Environmental Services | Whole market | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.17 | — |
| 6 |  RYRoyal Bank of Canada · Banks | Whole market | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.48 | — |
| 7 |  ORLYO'Reilly Automotive, Inc. · Specialty Retail | Whole market | +15.9% | 23.4% | 0.75 | −42.0% | +393% | 0.18 | — |
| 8 |  CCEPCoca-Cola Europacific Partners PLC · Food & Beverages | Whole market | +19.7% | 23.2% | 0.90 | −48.8% | +292% | 0.24 | — |
| 9 |  AJGArthur J. Gallagher & Co. · Insurance | Whole market | +10.9% | 24.2% | 0.55 | −44.4% | +516% | 0.19 | — |
| 10 |  GRMNGarmin Ltd. · Computer Hardware | Whole market | +14.8% | 31.6% | 0.59 | −54.6% | +670% | 0.37 | — |
| 11 |  CAHCardinal Health, Inc. · Health Care Distribution | Whole market | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.31 | — |
| 12 |  AAPLApple Inc. · Computer Hardware | Whole market | +18.5% | 28.0% | 0.75 | −38.5% | +1,168% | 0.52 | — |
| 13 |  MSFTMicrosoft Corporation · Software | Whole market | +12.5% | 28.2% | 0.56 | −37.1% | +946% | 0.36 | — |
| 14 | VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Whole market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.66 | 0.03% |
| 15 |  VOOVanguard S&P 500 ETF · US Large-Cap Equity | Whole market | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.65 | 0.03% |
| 16 | FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity | Whole market | +13.9% | 14.4% | 0.98 | −41.4% | +199% | 0.53 | 0.43% |
| 17 |  BRK-BBerkshire Hathaway Inc. · Insurance | Whole market | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.31 | — |
| 18 | NHCNational HealthCare Corporation · Medical - Care Facilities | Whole market | +32.0% | 28.5% | 1.12 | −35.3% | +394% | 0.12 | — |
| 19 |  ABBVAbbVie Inc. · Pharmaceuticals | Whole market | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.03 | — |
| 20 |  VVisa Inc. · Payment Processing | Whole market | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.47 | — |
| 21 | DXJWisdomTree Japan Hedged Equity Fund · International Equity | Whole market | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.48 | 0.48% |
| 22 |  COSTCostco Wholesale Corporation · Discount Retail | Whole market | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.43 | — |
| 23 |  QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth | Whole market | +14.5% | 23.0% | 0.71 | −35.1% | +553% | 0.53 | 0.18% |
| 24 |  MUFGMitsubishi UFJ Financial Group, Inc. · Banks | Whole market | +33.2% | 29.4% | 1.13 | −54.9% | +483% | 0.22 | — |
| 25 |  MAMastercard Incorporated · Payment Processing | Whole market | +12.4% | 23.8% | 0.61 | −41.0% | +541% | 0.50 | — |
| 26 |  PMPhilip Morris International Inc. · Tobacco | Whole market | +21.0% | 23.4% | 0.94 | −42.9% | +242% | 0.22 | — |
| 27 |  CSCOCisco Systems, Inc. · Communications Equipment | Whole market | +16.8% | 26.1% | 0.73 | −42.0% | +374% | 0.41 | — |
| 28 |  MCKMcKesson Corporation · Health Care Distribution | Whole market | +38.7% | 25.0% | 1.44 | −38.1% | +586% | 0.19 | — |
| 29 |  NVSNovartis AG · Pharmaceuticals | Whole market | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.16 | — |
| 30 |  APHAmphenol Corporation · Electronic Components | Whole market | +33.8% | 32.2% | 1.07 | −37.5% | +965% | 0.51 | — |
| 31 |  VTVVanguard Morningstar Value ETF · US Large-Cap Value | Whole market | +12.1% | 13.7% | 0.90 | −36.8% | +235% | 0.59 | 0.03% |
| 32 |  AMGNAmgen Inc. · Biotechnology | Whole market | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.20 | — |
| 33 |  GILDGilead Sciences, Inc. · Biotechnology | Whole market | +22.8% | 24.9% | 0.95 | −30.5% | +200% | 0.28 | — |
| 34 |  TDThe Toronto-Dominion Bank · Banks | Whole market | +15.8% | 20.0% | 0.84 | −42.0% | +310% | 0.37 | — |
| 35 |  MFGMizuho Financial Group, Inc. · Banks | Whole market | +33.6% | 30.6% | 1.10 | −45.7% | +345% | 0.19 | — |
| 36 |  VGTVanguard Information Technology ETF · Technology Equity | Whole market | +18.4% | 26.0% | 0.78 | −35.1% | +779% | 0.53 | 0.09% |
| 37 |  SAPSAP SE · Enterprise Software | Whole market | +11.5% | 30.0% | 0.52 | −52.5% | +205% | 0.37 | — |
| 38 |  SMFGSumitomo Mitsui Financial Group, Inc. · Banks | Whole market | +33.7% | 29.4% | 1.14 | −47.6% | +474% | 0.25 | — |
| 39 |  BHPBHP Group Limited · Metals & Mining | Whole market | +16.6% | 31.4% | 0.65 | −44.3% | +398% | 0.19 | — |
| 40 |  ADIAnalog Devices, Inc. · Semiconductors | Whole market | +19.5% | 34.1% | 0.69 | −33.6% | +652% | 0.38 | — |
| 41 | PTNQPacer Trendpilot 100 ETF · Technology | Whole market | +9.7% | 14.1% | 0.73 | −28.1% | +305% | 0.39 | 0.65% |
| 42 |  PGRThe Progressive Corporation · Property & Casualty Insurance | Whole market | +21.3% | 25.6% | 0.89 | −30.3% | +816% | 0.10 | — |
| 43 |  VRTXVertex Pharmaceuticals Incorporated · Biotechnology | Whole market | +22.6% | 29.1% | 0.85 | −41.6% | +521% | 0.04 | — |
| 44 |  BNYBank of New York Mellon Corp · Banks | Whole market | +22.7% | 24.4% | 0.97 | −50.5% | +341% | 0.60 | — |
| 45 |  CMCanadian Imperial Bank of Commerce · Banks | Whole market | +19.2% | 21.6% | 0.93 | −47.3% | +395% | 0.53 | — |
| 46 |  DEDeere & Company · Industrial Machinery | Whole market | +14.4% | 29.9% | 0.60 | −37.9% | +755% | 0.30 | — |
| 47 |  VIGVanguard Dividend Appreciation ETF · US Dividend Equity | Whole market | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.61 | 0.04% |
| 48 |  TRVThe Travelers Companies, Inc. · Property & Casualty Insurance | Whole market | +22.4% | 22.3% | 1.02 | −46.3% | +347% | 0.33 | — |
| 49 |  CORCencora, Inc. · Health Care Distribution | Whole market | +24.2% | 22.8% | 1.07 | −32.4% | +406% | 0.34 | — |
| 50 |  SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Whole market | +9.7% | 14.3% | 0.72 | −33.4% | +252% | 0.59 | 0.06% |
| 51 |  BMOBank of Montreal · Banks | Whole market | +13.6% | 21.4% | 0.71 | −51.0% | +295% | 0.50 | — |
| 52 |  GWWW.W. Grainger, Inc. · Industrial Distribution | Whole market | +26.3% | 24.9% | 1.07 | −41.6% | +654% | 0.54 | — |
| 53 |  HLTHilton Worldwide Holdings Inc. · Hotels & Resorts | Whole market | +21.0% | 26.8% | 0.85 | −50.8% | +694% | 0.54 | — |
| 54 |  VTVanguard Total World Stock ETF · Global Equity | Whole market | +10.3% | 16.2% | 0.69 | −34.2% | +223% | 0.63 | 0.06% |
| 55 |  CTASCintas Corporation · Business Services | Whole market | +16.5% | 23.1% | 0.78 | −48.4% | +808% | 0.37 | — |
| 56 | ACNBACNB Corporation · Banks - Regional | Whole market | +22.1% | 34.4% | 0.75 | −49.7% | +237% | 0.45 | — |
| 57 |  JCIJohnson Controls International plc · Building Products | Whole market | +17.4% | 29.1% | 0.70 | −46.4% | +426% | 0.49 | — |
| 58 |  HCAHCA Healthcare, Inc. · Health Care Facilities | Whole market | +14.1% | 30.1% | 0.59 | −54.7% | +513% | 0.37 | — |
| 59 |  ADPAutomatic Data Processing, Inc. · Business Services | Whole market | +9.0% | 22.9% | 0.49 | −40.8% | +320% | 0.44 | — |
| 60 |  ROSTRoss Stores, Inc. · Specialty Retail | Whole market | +18.1% | 29.5% | 0.71 | −51.4% | +312% | 0.45 | — |
| 61 |  MSIMotorola Solutions, Inc. · Communications Equipment | Whole market | +14.8% | 23.6% | 0.71 | −32.8% | +625% | 0.35 | — |
| 62 |  EMREmerson Electric Co. · Industrial Machinery | Whole market | +12.7% | 27.7% | 0.57 | −50.8% | +309% | 0.39 | — |
| 63 |  FASTFastenal Company · Industrial Distribution | Whole market | +15.8% | 24.6% | 0.72 | −30.7% | +576% | 0.29 | — |
| 64 |  SCHGSchwab U.S. Large-Cap Growth ETF · US Large-Cap Growth | Whole market | +13.1% | 22.4% | 0.67 | −34.5% | +451% | 0.59 | 0.04% |
| 65 |  AMEAMETEK, Inc. · Electronic Instruments | Whole market | +14.4% | 22.1% | 0.72 | −42.7% | +481% | 0.55 | — |
| 66 | CBOECboe Global Markets, Inc. · Capital Markets | Whole market | +21.5% | 25.1% | 0.91 | −43.2% | +463% | 0.30 | — |
| 67 |  IXORIX Corporation · Diversified Financials | Whole market | +17.9% | 25.4% | 0.78 | −42.5% | +284% | 0.45 | — |
| 68 |  KEYSKeysight Technologies, Inc. · Electronic Equipment | Whole market | +13.9% | 34.5% | 0.55 | −42.6% | +923% | 0.35 | — |
| 69 |  SLFSun Life Financial Inc. · Life Insurance | Whole market | +11.7% | 19.4% | 0.67 | −50.8% | +255% | 0.44 | — |
| 70 |  XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity | Whole market | +8.4% | 15.3% | 0.60 | −28.4% | +202% | 0.34 | 0.08% |
| 71 |  EBAYeBay Inc. · E-Commerce | Whole market | +11.7% | 32.9% | 0.50 | −53.6% | +374% | 0.46 | — |
| 72 |  NDAQNasdaq, Inc. · Capital Markets | Whole market | +8.9% | 24.7% | 0.47 | −38.3% | +407% | 0.46 | — |
| 73 | RSReliance Steel & Aluminum Co. · Metals & Mining | Whole market | +24.8% | 28.1% | 0.93 | −40.8% | +626% | 0.38 | — |
| 74 | FFIVF5, Inc. · Cybersecurity | Whole market | +17.1% | 30.8% | 0.67 | −54.6% | +287% | 0.22 | — |
| 75 | DGXQuest Diagnostics Incorporated · Medical Diagnostics | Whole market | +12.3% | 22.5% | 0.63 | −36.6% | +243% | 0.22 | — |
| 76 | PKGPackaging Corporation of America · Packaging | Whole market | +15.4% | 25.8% | 0.69 | −38.2% | +294% | 0.41 | — |
| 77 | EXPDExpeditors International of Washington, Inc. · Freight & Logistics | Whole market | +12.0% | 27.1% | 0.56 | −35.6% | +349% | 0.50 | — |
| 78 | EWYiShares MSCI South Korea ETF · International Equity | Whole market | +16.2% | 34.0% | 0.61 | −49.7% | +230% | 0.32 | 0.59% |
| 79 | RNRRenaissanceRe Holdings Ltd. · Insurance | Whole market | +20.1% | 27.8% | 0.80 | −40.7% | +215% | 0.07 | — |
| 80 |  MPCMarathon Petroleum Corporation · Oil & Gas | Whole market | +51.2% | 33.4% | 1.41 | −79.7% | +1,387% | 0.25 | — |
| 81 | RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity | Whole market | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.67 | 0.39% |
| 82 | CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity | Whole market | +14.1% | 26.1% | 0.64 | −33.9% | +454% | 0.40 | 0.58% |
| 83 | MUSAMurphy USA Inc. · Convenience Stores | Whole market | +26.1% | 31.2% | 0.90 | −35.5% | +706% | 0.16 | — |
| 84 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.63 | 0.40% |
| 85 | EHCEncompass Health Corporation · Health Care Facilities | Whole market | +18.4% | 26.8% | 0.77 | −39.5% | +340% | 0.22 | — |
| 86 | CACICACI International Inc · Business Services | Whole market | +16.6% | 29.9% | 0.66 | −42.9% | +499% | 0.22 | — |
| 87 | VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value | Whole market | +15.9% | 18.4% | 0.90 | −39.5% | +286% | 0.59 | 0.15% |
| 88 | LECOLincoln Electric Holdings, Inc. · Industrial Machinery | Whole market | +14.1% | 27.5% | 0.62 | −38.9% | +389% | 0.49 | — |
| 89 | AIZAssurant, Inc. · Property & Casualty Insurance | Whole market | +13.3% | 25.3% | 0.62 | −44.6% | +312% | 0.23 | — |
| 90 | MSGSMadison Square Garden Sports Corp. · Entertainment | Whole market | +18.4% | 25.6% | 0.79 | −41.6% | +432% | 0.31 | — |
| 91 | WTSWatts Water Technologies, Inc. · Industrial Machinery | Whole market | +15.3% | 28.4% | 0.65 | −44.1% | +539% | 0.40 | — |
| 92 | FCFSFirstCash Holdings, Inc · Consumer Finance | Whole market | +20.6% | 30.5% | 0.77 | −50.2% | +422% | 0.14 | — |
| 93 | MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity | Whole market | +9.1% | 18.4% | 0.57 | −33.3% | +276% | 0.65 | 0.46% |
| 94 | ARWArrow Electronics, Inc. · Technology Distribution | Whole market | +12.5% | 30.6% | 0.54 | −52.8% | +250% | 0.34 | — |
| 95 |  GLDSPDR Gold Shares · Gold | Whole market | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.04 | 0.40% |
| 96 | THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance | Whole market | +14.4% | 22.9% | 0.70 | −40.1% | +291% | 0.22 | — |
| 97 |  LINLinde plc · Chemicals | Whole market | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.25 | — |
| 98 | FLTWFranklin FTSE Taiwan ETF · Technology | Whole market | +21.8% | 24.3% | 0.94 | −38.0% | — | 0.35 | 0.19% |
| 99 | RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity | Whole market | +16.9% | 25.1% | 0.75 | −33.7% | +572% | 0.55 | 0.40% |
| 100 | PLXSPlexus Corp. · Electronics Manufacturing | Whole market | +20.3% | 33.9% | 0.72 | −53.7% | +420% | 0.19 | — |
GM against its popular alternatives
The investments people most often weigh against GM, compared period by period and year by year.
How do GM'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 GM, which divides the map into what did better or worse on each measure.
- Only RACE and BWA were both more rewarding and calmer than GM over the past 5 years, earning a higher annual return with lower volatility.
- Nine of the 15 popular alternatives earned less than GM over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, GM returned 6.9% a year, less than the S&P 500's 12.7%, with higher volatility (36.7% against 17.1%).
Green points earned more than GM with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| RACE Ferrari N.V. | +13.3% | 30.0% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| BWA BorgWarner Inc. | +9.3% | 34.6% |
| GM This pageGeneral Motors Company | +6.9% | 36.7% |
| HMC Honda Motor Co., Ltd. | +6.1% | 27.5% |
| TSLA Tesla, Inc. | +5.3% | 60.0% |
| TM Toyota Motor Corporation | +5.0% | 27.0% |
| F Ford Motor Company | +0.6% | 39.2% |
| MGA Magna International Inc. | −1.3% | 35.8% |
| LEA Lear Corporation | −5.0% | 34.3% |
| LI Li Auto Inc. | −17.5% | 62.1% |
| STLA Stellantis N.V. | −21.2% | 42.6% |
| VFS VinFast Auto Ltd. | −21.7% | 147% |
| APTV Aptiv PLC | −23.2% | 41.4% |
| XPEV XPeng Inc. | −25.4% | 77.8% |
| NIO NIO Inc. | −38.8% | 70.9% |
| LCID Lucid Group, Inc. | −57.7% | 84.2% |
Has GM consistently beaten its popular alternatives?
This section compares GM 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 GM helps separate lasting outperformance from a single strong stretch.
- Only one of the 16 popular alternatives, RACE, outperformed GM in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- RACE earned more for the risk it took than GM (a higher Sharpe ratio) and fell less in its worst decline of the past 10 years.
A green cell means the alternative earned more than GM 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.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| GM General Motors Company (this page) | — | −8.2% | +1.9% | −3.9% | −4.2% | +34.0% | +168% | +39.5% | +193% | 36.7% | 0.36 | −59.9% | — | $68B | — |
| RACE QualifiedFerrari N.V. | 4/5 short2/3 long | −3.8% | +7.7% | +8.6% | +8.9% | +1.6% | +36.1% | +86.6% | +711% | 30.0% | 0.57 | −39.2% | — | $70B | — |
| BWA Auto - PartsBorgWarner Inc. | 4/5 short1/3 long | −7.5% | −4.7% | +5.6% | +26.6% | +37.9% | +57.7% | +55.9% | +121% | 34.6% | 0.43 | −64.6% | — | $12B | — |
| TSLA Auto - ManufacturersTesla, Inc. | 1/5 short1/3 long | −0.4% | +1.1% | −4.8% | −14.7% | −16.5% | +76.3% | +29.5% | +2,716% | 60.0% | 0.39 | −73.6% | — | $1.5T | — |
| MGA Auto - PartsMagna International Inc. | 4/5 short0/3 long | +5.4% | +1.2% | +8.6% | +24.3% | +53.0% | +46.9% | −6.2% | +120% | 35.8% | 0.14 | −66.3% | — | $18B | — |
| HMC Auto - ManufacturersHonda Motor Co., Ltd. | 4/5 short0/3 long | +5.3% | +21.6% | +35.1% | +17.4% | +12.4% | +17.7% | +34.5% | +63.3% | 27.5% | 0.35 | −42.0% | — | $44B | — |
| TM Auto - ManufacturersToyota Motor Corporation | 2/5 short0/3 long | +3.8% | +12.0% | −7.1% | −6.8% | +1.5% | +24.1% | +27.8% | +129% | 27.0% | 0.32 | −36.8% | — | $234B | — |
| LEA Auto - PartsLear Corporation | 2/5 short0/3 long | −0.2% | −13.9% | −5.8% | +3.0% | +24.2% | −1.9% | −22.5% | +26.2% | 34.3% | 0.02 | −64.5% | — | $5.9B | — |
| APTV Auto - PartsAptiv PLC | 1/5 short0/3 long | +3.4% | −21.4% | −25.9% | −42.6% | −46.0% | −51.0% | −73.3% | −10.6% | 41.4% | -0.43 | −75.8% | — | $9.4B | — |
| LI Auto - ManufacturersLi Auto Inc. | 1/5 short0/3 long | +3.6% | −3.6% | −36.2% | −30.8% | −47.0% | −62.6% | −61.8% | — | 62.1% | 0.00 | −77.1% | — | $12B | — |
| NIO Auto - ManufacturersNIO Inc. | 1/5 short0/3 long | −6.5% | −28.7% | −48.5% | −33.3% | −51.4% | −54.7% | −91.4% | — | 70.9% | -0.34 | −95.0% | — | $8.3B | — |
| XPEV Auto - ManufacturersXPeng Inc. | 1/5 short0/3 long | −5.3% | −24.9% | −44.3% | −51.5% | −53.8% | −26.2% | −76.9% | — | 77.8% | 0.00 | −91.1% | — | $9.4B | — |
| F Auto - ManufacturersFord Motor Company | 0/5 short0/3 long | −7.8% | −12.2% | −3.5% | −5.9% | +6.0% | +25.9% | +3.0% | +71.8% | 39.2% | 0.21 | −64.7% | — | $48B | — |
| STLA Auto - ManufacturersStellantis N.V. | 0/5 short0/3 long | −10.0% | −24.7% | −50.2% | −62.1% | −59.5% | −73.3% | −69.7% | +39.2% | 42.6% | -0.35 | −83.1% | — | $13B | — |
| LCID Auto - ManufacturersLucid Group, Inc. | 0/5 short0/3 long | −24.0% | −54.0% | −51.6% | −70.7% | −83.6% | −92.4% | −98.7% | — | 84.2% | -0.62 | −99.5% | — | $1.0B | — |
| RIVN Auto - ManufacturersRivian Automotive, Inc. | 0/5 short0/3 long | −19.1% | −27.9% | −26.5% | −36.0% | −5.0% | −25.7% | — | — | — | — | −95.1% | — | $18B | — |
| VFS Auto - ManufacturersVinFast Auto Ltd. | 0/5 short0/3 long | −15.1% | −8.0% | −34.0% | −15.1% | −12.5% | −46.7% | −70.6% | — | 147% | 0.26 | −97.1% | — | $6.7B | — |
How did GM do year by year?
This table shows each investment's total return in every full calendar year since 2011, along with where GM ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with GM and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
Note: GM began trading on November 18, 2010, so the table starts with 2011, its first full calendar year, and cannot show how it fared during the dot-com bust, the 2008 financial crisis or the 2010 flash crash.
- GM finished ahead of the S&P 500 in six of its 15 full calendar years, and ahead of it in each of the last two.
- Among its popular alternatives, TSLA came out ahead of GM most often, in 11 of the 15 years both traded.
- Ranked against its popular alternatives each year, GM finished in the top quarter in three of 15 years and in the bottom quarter in three. In 2025, it ranked 2 of 17.
Newest year first. Green marks a year in which the fund came out ahead of GM; gray means the two finished within a fraction of a point. The rank row places GM among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of GM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GM This pageGeneral Motors Company | — | +54.2% | +49.8% | +8.0% | −42.4% | +40.8% | +15.2% | +14.0% | −15.0% | +22.5% | +7.4% | +1.5% | −11.6% | +41.8% | +42.2% | −45.0% |
| Rank among alternatives | Top quarter in 3 of 15 | 2 of 17 | 2 of 17 | 12 of 17 | 11 of 17 | 4 of 15 | 8 of 12 | 10 of 12 | 4 of 11 | 8 of 11 | 4 of 11 | 6 of 10 | 9 of 10 | 7 of 10 | 4 of 10 | 8 of 9 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 8 of 15 | +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% |
| RACE Ferrari N.V. | 7 of 10 | −12.3% | +26.3% | +59.1% | −16.7% | +13.3% | +39.7% | +67.9% | −4.5% | +80.3% | +22.7% | — | — | — | — | — |
| BWA BorgWarner Inc. | 6 of 15 | +43.9% | −10.2% | +2.6% | −9.2% | +18.4% | −9.2% | +27.1% | −31.0% | +31.2% | −7.3% | −20.5% | −0.8% | +56.9% | +12.4% | −11.9% |
| TSLA Tesla, Inc. | 11 of 15 | +11.4% | +62.5% | +102% | −65.0% | +49.8% | +743% | +25.7% | +6.9% | +45.7% | −10.9% | +7.9% | +47.9% | +344% | +18.9% | +6.7% |
| MGA Magna International Inc. | 10 of 15 | +33.7% | −26.3% | +8.8% | −28.6% | +16.6% | +33.4% | +24.3% | −18.4% | +33.0% | +9.7% | −24.0% | +34.4% | +67.2% | +54.9% | −34.3% |
| HMC Honda Motor Co., Ltd. | 4 of 15 | +7.7% | −3.8% | +39.8% | −16.6% | +4.0% | +2.9% | +11.0% | −19.8% | +20.2% | −5.8% | +9.5% | −27.3% | +15.8% | +23.9% | −20.8% |
| TM Toyota Motor Corporation | 7 of 15 | +13.8% | +8.8% | +38.2% | −24.4% | +23.2% | +13.6% | +24.9% | −5.8% | +12.1% | −1.5% | +0.9% | +5.9% | +33.7% | +43.6% | −14.5% |
| LEA Lear Corporation | 9 of 15 | +24.9% | −31.2% | +16.4% | −30.7% | +16.2% | +16.9% | +14.4% | −29.3% | +35.2% | +8.9% | +26.4% | +22.2% | +74.7% | +19.3% | −18.5% |
| APTV Aptiv PLC | 7 of 14 | +25.8% | −32.6% | −3.7% | −43.5% | +26.6% | +37.5% | +55.9% | −27.1% | +57.6% | −20.1% | +19.3% | +22.7% | +59.4% | +77.6% | — |
| LI Li Auto Inc. | 2 of 5 | −29.4% | −35.9% | +83.5% | −36.4% | +11.3% | — | — | — | — | — | — | — | — | — | — |
| NIO NIO Inc. | 1 of 7 | +17.0% | −51.9% | −7.0% | −69.2% | −35.0% | +1,112% | −36.9% | — | — | — | — | — | — | — | — |
| XPEV XPeng Inc. | 2 of 5 | +71.6% | −19.0% | +46.8% | −80.3% | +17.5% | — | — | — | — | — | — | — | — | — | — |
| F Ford Motor Company | 5 of 15 | +42.3% | −13.1% | +15.9% | −42.2% | +137% | −3.9% | +29.7% | −34.4% | +8.8% | −8.0% | −5.4% | +3.7% | +22.4% | +22.6% | −35.9% |
| STLA Stellantis N.V. | 8 of 15 | −9.2% | −40.2% | +79.0% | −18.2% | +21.9% | +35.0% | +17.8% | −18.9% | +95.3% | −0.4% | +20.8% | +42.7% | +60.5% | +12.5% | −49.5% |
| LCID Lucid Group, Inc. | 1 of 5 | −65.0% | −28.3% | −38.4% | −82.0% | +280% | — | — | — | — | — | — | — | — | — | — |
| RIVN Rivian Automotive, Inc. | 1 of 4 | +48.2% | −43.3% | +27.3% | −82.2% | — | — | — | — | — | — | — | — | — | — | — |
| VFS VinFast Auto Ltd. | 1 of 4 | −17.1% | −51.8% | −16.3% | +3.2% | — | — | — | — | — | — | — | — | — | — | — |
Risk and diversification
How GM 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 GM's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents GM's five deepest drawdowns since it began trading in 2010, 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.
Note: GM began trading on November 18, 2010, so this list cannot include the dot-com bust, the 2008 financial crisis or the 2010 flash crash. The crash tests on this page show how older funds and the S&P 500 fared through those years.
- In all five of GM's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: GM fell 59.9% from October 2017 to March 2020, while the S&P 500 slipped only 2.4%.
- The longest climb back to a previous high took 23 months, after GM fell 59.0% from January 2022 to November 2023.
Green means GM fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | GM fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| Late-2018 sell-off | −59.9% | −2.4% | Oct 2017 | Mar 2020 | 2.4 years | Nov 2020 | 8 months |
| 2022 bear market | −59.0% | −6.7% | Jan 2022 | Nov 2023 | 22 months | Oct 2025 | 23 months |
| 2011 euro debt crisis | −51.7% | +8.6% | Jan 2011 | Jul 2012 | 18 months | Dec 2013 | 17 months |
| 2015 China and oil sell-off | −30.8% | +4.8% | Dec 2013 | Aug 2015 | 20 months | Dec 2016 | 16 months |
| No named crash | −24.6% | +6.3% | Jun 2021 | Aug 2021 | 2 months | Nov 2021 | 3 months |
How did GM do in stock market crashes?
This section measures how far GM, 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.
Note: GM began trading on November 18, 2010, so its row reads "Not yet trading" for the dot-com bust, the 2008 financial crisis or the 2010 flash crash. The older alternatives and the S&P 500 show how those crashes played out.
- GM fell further than the S&P 500 in five of the seven crashes it has traded through. The clearest case was the 2022 bear market, when GM fell 53.0% and the S&P 500 fell 24.5%.
- Among its popular alternatives, VFS held up best, falling less than GM in all two crashes they both traded through.
- GM began trading after the 2008 financial crisis, but six of its popular alternatives lived through it. The mildest fall among them was TM's 48.9%, against 55.2% for the S&P 500.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than GM.
| Investment | Held up better | 2023 regional bank crisisMar 2023 | 2022 bear marketJan 2022 | Covid crashFeb 2020 | Late-2018 sell-offSep 2018 | February 2018 volatility shockFeb 2018 | 2015 China and oil sell-offAug 2015 | 2011 euro debt crisisJul 2011 | 2010 flash crashMay 2010 | 2008 financial crisisOct 2007 | Dot-com bustMar 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| GM This pageGeneral Motors Company | — | −10.1% | −53.0% | −51.8% | −14.9% | −3.9% | −25.5% | −34.4% | Not yet trading | Not yet trading | Not yet trading |
| SPY S&P 500State Street SPDR S&P 500 ETF | 5 of 7 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| RACE Ferrari N.V. | 3 of 5 | −3.6% | −36.9% | −27.8% | −31.8% | −5.9% | — | — | — | — | — |
| BWA BorgWarner Inc. | 4 of 7 | −7.4% | −36.2% | −43.6% | −26.3% | −5.5% | −41.3% | −29.7% | −6.3% | −72.1% | −42.2% |
| TSLA Tesla, Inc. | 3 of 7 | −5.0% | −45.4% | −60.6% | −21.6% | −10.0% | −45.6% | −25.1% | — | — | — |
| MGA Magna International Inc. | 2 of 7 | −6.9% | −46.1% | −53.5% | −21.4% | −3.9% | −42.6% | −39.6% | −1.1% | −79.3% | −35.3% |
| HMC Honda Motor Co., Ltd. | 4 of 7 | −3.1% | −29.9% | −27.3% | −16.8% | −4.9% | −29.4% | −29.7% | −0.9% | −50.5% | −40.4% |
| TM Toyota Motor Corporation | 6 of 7 | −1.9% | −36.8% | −22.0% | −11.1% | −3.4% | −18.7% | −21.2% | −0.3% | −48.9% | −56.4% |
| LEA Lear Corporation | 5 of 7 | −5.3% | −37.0% | −43.5% | −26.2% | −4.0% | −24.7% | −24.9% | −2.2% | — | — |
| APTV Aptiv PLC | 1 of 6 | −5.7% | −55.1% | −63.2% | −33.4% | −6.0% | −35.7% | — | — | — | — |
| LI Li Auto Inc. | 1 of 2 | −4.1% | −53.4% | — | — | — | — | — | — | — | — |
| NIO NIO Inc. | 2 of 4 | −7.3% | −59.9% | −46.1% | −31.3% | — | — | — | — | — | — |
| XPEV XPeng Inc. | 1 of 2 | −3.1% | −81.1% | — | — | — | — | — | — | — | — |
| F Ford Motor Company | 3 of 7 | −7.3% | −55.6% | −50.0% | −21.1% | −4.5% | −25.7% | −29.6% | −2.4% | −86.3% | −75.5% |
| STLA Stellantis N.V. | 2 of 7 | −6.2% | −42.6% | −52.2% | −22.4% | −5.8% | −45.9% | −52.2% | — | −86.9% | — |
| LCID Lucid Group, Inc. | 1 of 2 | −6.0% | −72.5% | — | — | — | — | — | — | — | — |
| RIVN Rivian Automotive, Inc. | 1 of 2 | −9.3% | −79.7% | — | — | — | — | — | — | — | — |
| VFS VinFast Auto Ltd. | 2 of 2 | −0.3% | −1.3% | — | — | — | — | — | — | — | — |
How closely does GM 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 GM with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- Only RACE, TSLA and TM had a higher capture ratio (upside capture divided by downside capture) than GM's 0.79, out of ten popular alternatives with the same record.
- RACE took just 56% of the S&P 500's losses, against 135% for GM, while still keeping 101% of its gains.
- Over the past 10 years, GM captured 107% of the S&P 500's gains in rising months and 135% of its losses in falling months, with a beta of 1.31. It amplified the market's moves in both directions.
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 GM's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| GM This pageGeneral Motors Company | 107% | 135% | 0.79 | 1.31 |
| RACE Ferrari N.V. | 101% | 56% | 1.79 | 0.92 |
| TSLA Tesla, Inc. | 182% | 129% | 1.40 | 1.91 |
| TM Toyota Motor Corporation | 62% | 72% | 0.86 | 0.56 |
| HMC Honda Motor Co., Ltd. | 51% | 71% | 0.71 | 0.62 |
| BWA BorgWarner Inc. | 109% | 157% | 0.70 | 1.31 |
| MGA Magna International Inc. | 110% | 166% | 0.66 | 1.50 |
| F Ford Motor Company | 105% | 167% | 0.63 | 1.51 |
| STLA Stellantis N.V. | 124% | 215% | 0.58 | 1.61 |
| LEA Lear Corporation | 91% | 165% | 0.55 | 1.40 |
| APTV Aptiv PLC | 106% | 219% | 0.48 | 1.80 |
What diversifies GM?
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 GM's. Because such investments tend not to fall at the same time, pairing GM with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in GM into GLD would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (+8.8% for GM alone, +11.8% for the mix).
- MCK made money in three of the four calendar years in which GM lost money.
- Among large ETFs, DXJ, EMLP and HDV have moved largely independently of GM over the past 5 years, with correlations of 0.48 or lower, and each still earned a positive 5-year return.
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 GM lost money. The last two columns show a portfolio that is 80% GM and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2018 | 2014 | 2011 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|
| GM General Motors Company (this page) | 1.00 | +39.5% | 0.36 | −42.4% | −15.0% | −11.6% | −45.0% | 33.6% | +8.8% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.48 | +225% | 1.34 | +6.0% | −19.8% | +8.1% | −16.1% | 28.2% | +13.0% |
| EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund | 0.41 | +101% | 1.04 | +10.4% | −8.7% | +23.8% | — | 28.2% | +10.9% |
| HDV Dividend & IncomeiShares Core High Dividend ETF | 0.48 | +83.3% | 1.00 | +7.1% | −3.0% | +12.6% | — | 28.4% | +10.2% |
| SMH TechnologyVanEck Semiconductor ETF | 0.44 | +323% | 0.97 | −33.5% | −9.1% | +30.2% | +6.8% | 30.6% | +15.1% |
| GLD CommoditiesSPDR Gold Shares | 0.04 | +126% | 0.96 | −0.8% | −1.9% | −2.2% | +9.6% | 27.3% | +11.8% |
| SPMO Broad MarketInvesco S&P 500 Momentum ETF | 0.43 | +136% | 0.93 | −10.4% | −0.9% | — | — | 28.9% | +12.1% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.34 | +177% | 0.93 | +64.4% | −18.2% | −8.7% | +2.8% | 29.1% | +12.6% |
| EWT TechnologyiShares MSCI Taiwan ETF | 0.35 | +153% | 0.89 | −28.9% | −9.9% | +7.0% | −21.8% | 29.1% | +12.3% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2018 | 2014 | 2011 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|
| GM General Motors Company (this page) | 1.00 | +39.5% | 0.36 | −42.4% | −15.0% | −11.6% | −45.0% | 33.6% | +8.8% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.31 | +479% | 1.55 | +54.1% | −24.5% | +23.0% | +8.1% | 29.0% | +15.2% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.36 | +3,143% | 1.47 | +1.3% | −16.3% | +12.9% | −24.4% | 33.0% | +27.1% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.32 | +1,636% | 1.46 | +17.0% | +0.8% | −10.4% | −17.0% | 31.0% | +23.6% |
| MCK Medical - DistributionMcKesson Corporation | 0.19 | +413% | 1.44 | +51.8% | −28.4% | +29.3% | +11.8% | 28.3% | +14.8% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.25 | +690% | 1.41 | +86.6% | −8.2% | +0.4% | — | 29.2% | +17.3% |
Common questions
What was GM's worst drawdown?
GM's deepest decline since it began trading in 2010 was 59.9%, from October 2017 to March 2020. It took eight months from the low to climb back to its old high. Because GM launched in November 2010, that record does not include the dot-com bust, the 2008 financial crisis or the 2010 flash crash.
What were GM's best and worst years?
Over 15 full calendar years, GM's best year was 2025, when it returned 54.2%. Its worst was 2011, with a return of -45.0%.
Is there a better investment than GM?
Among GM's popular alternatives, RACE and BWA earned more than GM with less volatility over the past 5 years. RACE returned 13.3% a year at 30.0% volatility, against 6.9% a year at 36.7%. Looking beyond its popular alternatives, ALSN (auto parts) and NEU (specialty chemicals) earned more than GM with less volatility over the past 5 years. ALSN returned 27.3% a year at 29.9% volatility, against 6.9% a year at 36.7%.
Is GM more volatile than the S&P 500?
Yes. GM's volatility over the past 5 years was 36.7%, 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, GM's return lands within 36.7% 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 GM's Sharpe ratio?
GM's Sharpe ratio over the past 5 years was 0.36, against 0.79 for the S&P 500, so GM 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 GM with the S&P 500?
Over the past 5 years, GM's monthly returns had a correlation of 0.65 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 GM instead: the lower it is, the more that option would diversify a GM holding.
What are the best alternatives to GM?
Of the 16 popular alternatives we compared, one outperformed GM in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: RACE.
Did GM outperform the S&P 500?
GM finished ahead of the S&P 500 (SPY) in six of 15 full calendar years. In 2025, it returned +54.2%, against +17.7% for the index.
How did GM do in stock market crashes?
GM fell less than the S&P 500 (SPY) in two of the seven major crashes it has traded through, and further in five. The clearest case was the 2022 bear market, when GM fell 53.0% and the S&P 500 fell 24.5%.
What diversifies GM?
These had a low correlation with GM over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.48), EMLP (correlation 0.41) and HDV (correlation 0.48); among large stocks, CAH (correlation 0.31), CLS (correlation 0.36) and FIX (correlation 0.32). A correlation near zero means the two have moved largely independently.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y; long-term periods are 3Y, 5Y, 10Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than GM's. Returns within 0.5 points or 3% of GM's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
TSLA
TM
F
NVDA
GOOG
AMZN