Relative Intelligence · Specialty Retail
How Home Depot (HD) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on HD alone. It places HD (The Home Depot, Inc.) 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 HD stands in the market, and of the alternatives worth a closer look.
Period covered: HD's full trading record, from October 1986 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.
On this page12 sections
Key findings
- Right nowHD has gone against the market, falling 8.9% over the past 6 months while the S&P 500 rose 9.1%. HD is 23.5% below its high, bear-market territory, while the S&P 500 sits 1.3% below a record. At a glance ↓
- Stock or market?HD fell 4.7% over the past 3 months, less than the 0.99 beta versus the S&P 500 would have implied (3.9%). Its specialty retail peers did not move as one over the past 3 months: WSM (Williams-Sonoma) rose 14.1%, while BLDR (Builders FirstSource) fell 25.8%.
- Past 1 to 3 yearsOver the past year, HD fell 16.7% while the S&P 500 rose 15.8%. The same gap shows up over 3 years (18.8% against 89.3%). The last two calendar years both went the same way: HD fell 9.3% in 2025, while the S&P 500 rose 15.8%. By year ↓
- Long termHD turned $10,000 into $31,700 over the past decade, against $42,100 in the S&P 500. Growth of $10,000 ↓
- In a crashAcross seven sell-offs, HD has typically fallen 1.2 times as far as the S&P 500. In the 2022 bear market, HD fell 34.2%, against 24.5% for the S&P 500. That was more than TSCO (Tractor Supply, 27.8%) but less than WSM (Williams-Sonoma, 35.8%). Crash tests ↓
- DiversificationAgainst the S&P 500, HD has a correlation of 0.63 over 5 years, more closely than 94% 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
- COST (Costco Wholesale, discount retail) and WMT (Walmart, discount retail) earned more than HD with less volatility over the past 5 years. COST returned 17.4% a year at 22.9% volatility, against a loss of 0.0% a year at 24.7%.
- 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 0.0% at 24.7% for HD.
- Whole market
- 906 of the 3,633 stocks and funds worth at least $500 million earned more than HD with less volatility over the past 5 years, among them VTI (Vanguard Morningstar Total Stock Market ETF), VOO (Vanguard S&P 500 ETF) and BRK-B (Berkshire Hathaway).
How much would $10,000 in HD have grown?
This chart tracks a hypothetical $10,000 investment in HD over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of HD over the same span and HD'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.
- $10,000 invested in HD at the end of September 1997 would have grown to $287,658 by September 2026, more than the $132,907 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of HD, and TSCO finished highest, at $1,578,957.
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. 209 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of HD; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- TSCO$2M+15,690% total · +19.1% a year
- COST$727,732+7,177% total · +15.9% a year
- WSM$678,324+6,683% total · +15.7% a year
- LOW$546,874+5,369% total · +14.8% a year
- DHI$445,083+4,351% total · +14.0% a year
- HD$287,658+2,777% total · +12.3% a year
- SPY (S&P 500)$132,907+1,229% total · +9.3% a year
- HVT$110,677+1,007% total · +8.6% a year
- MAS$62,462+525% total · +6.5% a year
- ETD$29,248+192% total · +3.8% a year
From the end of September 2021 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 2,558 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of HD; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- WSM$28,254+183% total · +23.1% a year
- WMT$23,813+138% total · +18.9% a year
- COST$21,378+114% total · +16.4% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- DHI$17,145+71.4% total · +11.4% a year
- ETD$14,081+40.8% total · +7.1% a year
- MAS$13,320+33.2% total · +5.9% a year
- HVT$11,665+16.7% total · +3.1% a year
- HD$9,837−1.6% total · −0.3% a year
- W$4,014−59.9% total · −16.7% a year
HD 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.
- HD is still 23.5% below its all-time high.
- HD's deepest decline since it began trading in 1986 was 70.5%, from December 1999 to March 2009. It took about three years from the low to climb back to its old high.
- Over 29 full calendar years, HD's best was 1998, when it returned 108%, and its worst was 2002, when it lost 52.6%. It lost money in eight of those years.
The company
- Market value
- $314B
- Industry
- Home Improvement
- Price history from
- October 1986
Returns
- Past 1 year
- −16.7%total return
- Past 3 years
- +18.8%+5.9% a year
- Past 5 years
- −0.2%0.0% a year
- Past 10 years
- +217%+12.2% a year
- Best calendar year
- +108%1998
- Worst calendar year
- −52.6%2002
- Losing years
- 8 of 29full calendar years
Risk
- Volatility
- 24.7%typical yearly swing, 5 years
- Sharpe ratio
- 0.12return per unit of risk, 5 years
- Worst decline ever
- −70.5%Dec 1999 to Mar 2009
- From its all-time high
- −23.5%below the peak
HD against the whole market
Where HD ranks among every stock and fund, and what across the market has done better.
How does HD rank among all stocks?
This section ranks HD 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 HD stacks up against its peers, these rankings show where it stands in the market as a whole.
- HD's worst decline of the past 10 years ranks in the top 5% of the 2,187 stocks worth at least $300 million, where the top fell the least.
- HD's 1-year return ranks in the bottom 22% of the 3,287 stocks worth at least $300 million with 1 year 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 | HD | Rank | Standing |
|---|---|---|---|
| 1-year return | −16.7% | 2,555 of 3,287 | bottom 23% |
| 3-year return | +18.8% | 2,038 of 3,017 | bottom 33% |
| 5-year return | −0.2% | 1,735 of 2,893 | bottom 41% |
| 10-year return | +217% | 802 of 2,202 | top 36% |
| Volatility, 5 years | 24.7% | 303 of 2,893 | top 10% |
| Sharpe ratio, 5 years | 0.12 | 2,055 of 2,893 | bottom 30% |
| Worst decline, past 10 years | −38.0% | 104 of 2,187 | top 5% |
What has beaten HD 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). HD sits where the dashed lines cross. Anything in the green box above and to the left earned more than HD 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.
- 160 stocks and 746 ETFs worth at least $500 million sit in the green region: each earned more than HD over the past 5 years with smaller price swings. That is 25% of the 3,633 screened.
- Among those with at least half HD's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 23% less than HD's 24.7%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.12 for HD.
- None of HD's popular alternatives made it, but WMT (discount retail) did: 20.8% a year at 22.6% volatility, 9% less than HD's 24.7%.
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 HD; faint dots are 92 more of the 906 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
- 1 with more than 1.6× HD's volatility is in the table only
Is there a better investment than HD?
Investments that beat HD over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among HD's popular alternatives, WSM, DHI and MAS were ahead of HD in most short and long periods, though with much bigger swings (44.4%, 35.9% and 31.1% volatility against 24.7%).
- Looking beyond its popular alternatives, COST (discount retail) and WMT (discount retail) earned more than HD with less volatility over the past 5 years. COST returned 17.4% a year at 22.9% volatility, against a loss of 0.0% a year at 24.7%.
- Simply owning the S&P 500 would have done better over the past 5 years: 12.7% a year at 17.1% volatility, against 0.0% at 24.7% for HD.
How this works
The table below lists investments that beat HD 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 HD'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 HD 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 HD'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× HD's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than HD'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 HD?lower diversifies more | Expenseper year | |||
| HDThe Home Depot, Inc. · this page | 0.0% | 24.7% | 0.12 | −38.0% | +217% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.63 | 0.09% | ||
| Popular alternativesbest 4 shownThe investments people most often weigh against HD. 4 of 15 passed at least one test. | |||||||||
WSMWilliams-Sonoma, Inc. · Specialty Retail | Higher return in most periods | +24.5% | 44.4% | 0.71 | −59.7% | +1,268% | 0.56 | — | |
 DHID.R. Horton, Inc. · Homebuilders | Higher return in most periods | +10.5% | 35.9% | 0.46 | −53.6% | +434% | 0.74 | — | |
MASMasco Corporation · Building Products | Higher return in most periods | +6.2% | 31.1% | 0.35 | −44.7% | +162% | 0.80 | — | |
HVTHaverty Furniture Companies, Inc. · Home Improvement | Higher return in most periods | +3.8% | 36.6% | 0.28 | −57.7% | +204% | 0.53 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Specialty Retail and the categories next to it (Discount Retail, Apparel & Footwear, Automobiles), plus HD's specific themes. 14 of 57 passed at least one test. | |||||||||
 COSTCostco Wholesale Corporation · Discount Retail | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.49 | — | |
 WMTWalmart Inc. · Discount Retail | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.38 | — | |
 TJXThe TJX Companies, Inc. · Specialty Retail | Higher return, lower volatilityHigher return in most periods | +19.9% | 22.3% | 0.93 | −42.5% | +361% | 0.57 | — | |
 ORLYO'Reilly Automotive, Inc. · Specialty Retail | Higher return, lower volatilityHigher return in most periods | +15.9% | 23.4% | 0.75 | −42.0% | +393% | 0.47 | — | |
 TMToyota Motor Corporation · Automobiles | Higher return, similar volatilityHigher return in most periods | +5.0% | 27.0% | 0.32 | −36.8% | +129% | 0.28 | — | |
 ROSTRoss Stores, Inc. · Specialty Retail | Higher return in most periods | +18.1% | 29.5% | 0.71 | −51.4% | +312% | 0.44 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,720 of 3,562 passed at least one test. | |||||||||
 BRK-BBerkshire Hathaway Inc. · Insurance | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.42 | — | |
 GLDSPDR Gold Shares · Gold | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.14 | 0.40% | |
 VIGVanguard Dividend Appreciation ETF · US Dividend Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.73 | 0.04% | |
 IWFiShares Russell 1000 Growth ETF · US Large-Cap Growth | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +11.7% | 21.8% | 0.62 | −32.7% | +416% | 0.52 | 0.18% | |
 WMWaste Management, Inc. · Environmental Services | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +9.3% | 19.2% | 0.56 | −30.1% | +344% | 0.46 | — | |
JAAAJanus Henderson AAA CLO ETF · CLO Bonds | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +5.1% | 1.7% | 2.98 | −2.6% | — | 0.27 | 0.20% | |
 PGRThe Progressive Corporation · Property & Casualty Insurance | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +21.3% | 25.6% | 0.89 | −30.3% | +816% | 0.25 | — | |
 VCITVanguard Intermediate-Term Corporate Bond ETF · Investment Grade Bonds | Similar return, lower volatilityHigher return in most periods | +0.6% | 6.7% | 0.13 | −20.6% | +26.4% | 0.60 | 0.03% | |
What these numbers mean for HD
- Annual return
- HD lost 0.0% 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 $9,980. 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
- HD's volatility over the past 5 years was 24.7%, 1.4 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, HD's return lands within 24.7% 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
- HD's Sharpe ratio over the past 5 years was 0.12, against 0.79 for the S&P 500, so HD 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
- HD's worst fall from a peak to a low over the past 10 years was 38.0%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 38.0% fall takes a 61.3% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, HD's monthly returns had a correlation of 0.63 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 HD instead: the lower it is, the more that option would diversify a HD holding. Guide: Correlation and diversification →
Show all 906 stocks and funds worth at least $500 million that earned more than HD 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 HD | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BRK-BBerkshire Hathaway Inc. · Insurance | Whole market | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.42 | — |
| 2 | GLDSPDR Gold Shares · Gold | Whole market | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.14 | 0.40% |
| 3 | VIGVanguard Dividend Appreciation ETF · US Dividend Equity | Whole market | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.73 | 0.04% |
| 4 | IWFiShares Russell 1000 Growth ETF · US Large-Cap Growth | Whole market | +11.7% | 21.8% | 0.62 | −32.7% | +416% | 0.52 | 0.18% |
| 5 | WMWaste Management, Inc. · Environmental Services | Whole market | +9.3% | 19.2% | 0.56 | −30.1% | +344% | 0.46 | — |
| 6 | JAAAJanus Henderson AAA CLO ETF · CLO Bonds | Whole market | +5.1% | 1.7% | 2.98 | −2.6% | — | 0.27 | 0.20% |
| 7 | IUSGiShares Core S&P U.S. Growth ETF · US Growth Equity | Whole market | +12.9% | 21.2% | 0.68 | −32.4% | +405% | 0.54 | 0.04% |
| 8 |  WCNWaste Connections, Inc. · Environmental Services | Whole market | +6.1% | 20.0% | 0.40 | −31.6% | +270% | 0.52 | — |
| 9 | OEFiShares S&P 100 ETF · US Large-Cap Equity | Whole market | +14.3% | 17.8% | 0.84 | −31.4% | +367% | 0.54 | 0.20% |
| 10 | COSTCostco Wholesale Corporation · Discount Retail | Same or nearby category | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.49 | — |
| 11 | SPHQInvesco S&P 500 Quality ETF · US Quality Equity | Whole market | +12.0% | 16.7% | 0.76 | −31.6% | +300% | 0.71 | 0.20% |
| 12 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.50 | 0.40% |
| 13 | TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity | Whole market | +16.2% | 21.3% | 0.81 | −32.0% | +388% | 0.48 | 0.50% |
| 14 |  JNJJohnson & Johnson · Pharmaceuticals | Whole market | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.41 | — |
| 15 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.48 | 0.40% |
| 16 | BALTInnovator Defined Wealth Shield ETF · Crypto | Whole market | +6.3% | 3.3% | 1.85 | −4.9% | — | 0.56 | 0.69% |
| 17 | SUSAiShares ESG Optimized MSCI USA ETF · Broad Market | Whole market | +10.4% | 17.4% | 0.66 | −32.9% | +302% | 0.67 | 0.25% |
| 18 |  VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Whole market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.64 | 0.03% |
| 19 | PWBInvesco Large Cap Growth ETF · Broad Market | Whole market | +14.8% | 22.2% | 0.74 | −32.4% | +409% | 0.59 | 0.55% |
| 20 |  NVSNovartis AG · Pharmaceuticals | Whole market | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.43 | — |
| 21 | FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Financials | Whole market | +6.0% | 2.3% | 2.55 | −21.0% | +58.0% | 0.34 | 0.60% |
| 22 |  LINLinde plc · Chemicals | Whole market | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.65 | — |
| 23 | PTNQPacer Trendpilot 100 ETF · Technology | Whole market | +9.7% | 14.1% | 0.73 | −28.1% | +305% | 0.43 | 0.65% |
| 24 |  VVisa Inc. · Payment Processing | Whole market | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.39 | — |
| 25 |  CORCencora, Inc. · Health Care Distribution | Whole market | +24.2% | 22.8% | 1.07 | −32.4% | +406% | 0.36 | — |
| 26 |  EP-PCEl Paso Energy Capital Trust I PFD CV TR SECS · Preferred Stocks | Whole market | +5.2% | 8.9% | 0.61 | −25.4% | +37.8% | 0.40 | — |
| 27 |  ULUnilever PLC · Household & Personal Products | Whole market | +5.5% | 21.5% | 0.36 | −30.1% | +89.8% | 0.51 | — |
| 28 | PJULInnovator U.S. Equity Power Buffer ETF · Broad Market | Whole market | +10.5% | 8.6% | 1.20 | −18.2% | — | 0.60 | 0.79% |
| 29 | FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset | Whole market | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.53 | 0.85% |
| 30 |  VTVVanguard Morningstar Value ETF · US Large-Cap Value | Whole market | +12.1% | 13.7% | 0.90 | −36.8% | +235% | 0.71 | 0.03% |
| 31 |  AEPAmerican Electric Power Company, Inc. · Electric Utilities | Whole market | +12.4% | 20.2% | 0.68 | −32.9% | +185% | 0.40 | — |
| 32 |  CLColgate-Palmolive Company · Household & Personal Products | Whole market | +7.2% | 19.2% | 0.46 | −29.0% | +68.8% | 0.40 | — |
| 33 | WMTWalmart Inc. · Discount Retail | Same or nearby category | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.38 | — |
| 34 |  JEPIJPMorgan Equity Premium Income ETF · Equity Income | Whole market | +7.5% | 11.0% | 0.71 | −13.7% | — | 0.70 | 0.35% |
| 35 |  EDConsolidated Edison, Inc. · Electric Utilities | Whole market | +12.0% | 18.8% | 0.70 | −30.9% | +114% | 0.31 | — |
| 36 |  XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity | Whole market | +8.4% | 15.3% | 0.60 | −28.4% | +202% | 0.55 | 0.08% |
| 37 | CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications | Whole market | +7.7% | 13.3% | 0.63 | −23.8% | +101% | 0.19 | — |
| 38 | SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity | Whole market | +18.7% | 20.8% | 0.93 | −30.9% | +499% | 0.54 | 0.13% |
| 39 | DFIVDimensional - International Value ETF · International Equity | Whole market | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.48 | 0.27% |
| 40 | AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Whole market | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.69 | 0.15% |
| 41 | HYGHiShares Interest Rate Hedged High Yield Bond ETF · Bonds | Whole market | +6.6% | 7.1% | 0.94 | −23.9% | +74.5% | 0.50 | 1.12% |
| 42 | WECWEC Energy Group, Inc. · Electric Utilities | Whole market | +7.2% | 19.0% | 0.46 | −32.3% | +159% | 0.44 | — |
| 43 | DFATDimensional - US Targeted Value ETF · US Small-Cap Equity | Whole market | +9.6% | 21.0% | 0.54 | −26.1% | — | 0.69 | 0.33% |
| 44 |  SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Whole market | +9.7% | 14.3% | 0.72 | −33.4% | +252% | 0.65 | 0.06% |
| 45 | AEEAmeren Corporation · Electric Utilities | Whole market | +7.9% | 19.4% | 0.49 | −29.1% | +192% | 0.45 | — |
| 46 | USHYiShares Broad USD High Yield Corporate Bond ETF · High Yield Bonds | Whole market | +3.6% | 7.4% | 0.52 | −22.4% | — | 0.61 | 0.08% |
| 47 | DFAIDimensional - International Core Equity Market ETF · Developed International Equity | Whole market | +9.7% | 16.0% | 0.66 | −27.4% | — | 0.61 | 0.18% |
| 48 | BUFRFT Vest Laddered Buffer ETF · Buffered Equity | Whole market | +9.9% | 10.5% | 0.96 | −13.7% | — | 0.59 | 0.10% |
| 49 |  RSGRepublic Services, Inc. · Environmental Services | Whole market | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.49 | — |
| 50 |  RYRoyal Bank of Canada · Banks | Whole market | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.49 | — |
| 51 | BBJPJPMorgan BetaBuilders Japan ETF · International Equity | Whole market | +9.3% | 18.6% | 0.57 | −32.7% | — | 0.55 | 0.19% |
| 52 | CHDChurch & Dwight Co., Inc. · Household & Personal Products | Whole market | +6.1% | 21.1% | 0.39 | −31.7% | +154% | 0.40 | — |
| 53 | DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity | Whole market | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.61 | 0.35% |
| 54 | BKLNInvesco Senior Loan ETF · Bank Loans | Whole market | +5.4% | 4.5% | 1.19 | −24.1% | +50.7% | 0.36 | 0.67% |
| 55 | JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity | Whole market | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.71 | 0.12% |
| 56 | DIVOAmplify CWP Enhanced Dividend Income ETF · Equity Income | Whole market | +11.1% | 11.9% | 0.95 | −30.0% | — | 0.68 | 0.56% |
| 57 | SRLNState Street Blackstone Senior Loan ETF · Bank Loans | Whole market | +4.7% | 3.9% | 1.18 | −22.3% | +54.2% | 0.31 | 0.70% |
| 58 | XLPState Street Consumer Staples Select Sector SPDR ETF · Consumer Staples | Whole market | +7.2% | 13.8% | 0.57 | −24.5% | +121% | 0.58 | 0.08% |
| 59 | IQLTiShares MSCI Intl Quality Factor ETF · International Equity | Whole market | +7.8% | 16.5% | 0.54 | −32.2% | +155% | 0.64 | 0.30% |
| 60 |  MRSHMarsh & McLennan Companies, Inc. · Insurance | Whole market | +4.4% | 20.9% | 0.31 | −35.8% | +245% | 0.50 | — |
| 61 | FTSLFirst Trust Senior Loan Fund · Bonds | Whole market | +5.0% | 3.4% | 1.49 | −22.7% | +52.1% | 0.36 | 0.70% |
| 62 |  SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds | Whole market | +3.8% | 0.3% | 13.25 | −0.3% | — | 0.15 | 0.09% |
| 63 | QYLDGlobal X - Nasdaq 100 Covered Call ETF · Equity Income | Whole market | +8.4% | 15.0% | 0.62 | −24.7% | +156% | 0.45 | 0.60% |
| 64 | DFAEDimensional - Emerging Core Equity Market ETF · Emerging Markets Equity | Whole market | +8.3% | 18.8% | 0.52 | −32.2% | — | 0.45 | 0.29% |
| 65 | DBMFiMGP DBi Managed Futures Strategy ETF · Alternatives | Whole market | +9.8% | 12.4% | 0.82 | −20.4% | — | -0.21 | 0.85% |
| 66 | CCZComcast Holdings Corp. · Corporate Bonds | Whole market | +2.6% | 23.0% | 0.23 | −24.7% | +65.0% | 0.27 | — |
| 67 | SPIBState Street SPDR Portfolio Intermediate Term Corporate Bond ETF · Investment Grade Bonds | Whole market | +1.6% | 4.5% | 0.37 | −14.9% | +28.4% | 0.58 | 0.04% |
| 68 | GGGGraco Inc. · Industrial Machinery | Whole market | +3.5% | 22.9% | 0.26 | −30.6% | +263% | 0.63 | — |
| 69 | FTCSFirst Trust Capital Strength ETF · US Quality Equity | Whole market | +6.2% | 13.2% | 0.52 | −31.9% | +188% | 0.75 | 0.53% |
| 70 | VIGIVanguard International Dividend Appreciation ETF · International Equity | Whole market | +4.9% | 14.5% | 0.40 | −31.0% | +122% | 0.63 | 0.07% |
| 71 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.40 | — |
| 72 | IDMOInvesco S&P International Developed Momentum ETF · International Equity | Whole market | +13.3% | 18.2% | 0.78 | −31.3% | +229% | 0.64 | 0.25% |
| 73 | FTLSFirst Trust Long/Short Equity ETF · Broad Market | Whole market | +10.2% | 10.4% | 0.99 | −20.6% | +158% | 0.62 | 0.95% |
| 74 |  KDPKeurig Dr Pepper Inc. · Food & Beverages | Whole market | +2.5% | 22.1% | 0.23 | −36.9% | +281% | 0.21 | — |
| 75 | PTLCPacer Trendpilot US Large Cap ETF · Broad Market | Whole market | +9.5% | 11.8% | 0.83 | −26.6% | +188% | 0.61 | 0.60% |
| 76 | SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology | Whole market | +15.0% | 19.5% | 0.82 | −30.8% | — | 0.56 | 0.45% |
| 77 | DIVIFranklin International Core Dividend Tilt Index ETF · International | Whole market | +13.4% | 15.5% | 0.89 | −27.7% | +184% | 0.60 | 0.09% |
| 78 | AORiShares Core 60/40 Balanced Allocation ETF · Multi-Asset | Whole market | +6.4% | 10.7% | 0.64 | −23.0% | +118% | 0.67 | 0.20% |
| 79 | BCIabrdn Bloomberg All Commodity Strategy K-1 Free ETF · Alternatives | Whole market | +10.1% | 16.7% | 0.66 | −32.7% | — | -0.08 | 0.26% |
| 80 | PECOPhillips Edison & Co. · Retail REITs | Whole market | +7.4% | 22.3% | 0.43 | −23.1% | — | 0.45 | — |
| 81 | ACWViShares MSCI Global Min Vol Factor ETF · International | Whole market | +6.3% | 10.3% | 0.65 | −28.8% | +116% | 0.64 | 0.20% |
| 82 | ACIOAptus Collared Income Opportunity ETF · Dividend & Income | Whole market | +9.3% | 11.1% | 0.86 | −14.2% | — | 0.62 | 0.79% |
| 83 | FTHIFirst Trust BuyWrite Income ETF · Dividend & Income | Whole market | +10.3% | 13.3% | 0.81 | −32.7% | +126% | 0.55 | 0.75% |
| 84 | 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% |
| 85 | BSCRInvesco BulletShares 2027 Corporate Bond ETF · Investment Grade Bonds | Whole market | +1.7% | 4.1% | 0.44 | −17.3% | — | 0.47 | 0.10% |
| 86 | CWBState Street SPDR Bloomberg Convertible Securities ETF · Corporate Bonds | Whole market | +3.7% | 13.7% | 0.34 | −32.1% | +178% | 0.56 | 0.40% |
| 87 | SCHYSchwab International Dividend Equity ETF · International | Whole market | +9.5% | 13.3% | 0.75 | −24.0% | — | 0.51 | 0.08% |
| 88 | FHLCFidelity MSCI Health Care Index ETF · Healthcare | Whole market | +7.3% | 15.4% | 0.53 | −28.8% | +199% | 0.57 | 0.08% |
| 89 | HFXINYLI FTSE International Equity Currency Neutral ETF · International | Whole market | +11.4% | 15.3% | 0.79 | −32.4% | +180% | 0.61 | 0.19% |
| 90 | EMLCVanEck J.P. Morgan EM Local Currency Bond ETF · International Bonds | Whole market | +2.4% | 9.1% | 0.30 | −26.4% | +18.2% | 0.52 | 0.30% |
| 91 | CHCOCity Holding Company · Banks - Regional | Whole market | +15.9% | 22.8% | 0.77 | −32.3% | +286% | 0.50 | — |
| 92 | NFRANorthern Trust STOXX Global Broad Infrastructure ETF · International | Whole market | +5.3% | 12.9% | 0.46 | −32.5% | +95.1% | 0.60 | 0.48% |
| 93 | IHDGWisdomTree International Hedged Quality Dividend Growth Fund · International | Whole market | +7.6% | 14.9% | 0.57 | −29.2% | +163% | 0.65 | 0.58% |
| 94 | JPIBJPMorgan International Bond Opportunities ETF · Bonds | Whole market | +2.5% | 4.2% | 0.62 | −13.1% | — | 0.62 | 0.50% |
| 95 | FFLCFidelity Fundamental Large Cap Core ETF · Broad Market | Whole market | +15.7% | 16.8% | 0.95 | −19.7% | — | 0.57 | 0.38% |
| 96 | MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity | Whole market | +9.1% | 18.4% | 0.57 | −33.3% | +276% | 0.65 | 0.46% |
| 97 | INFLHorizon Kinetics Inflation Beneficiaries ETF · Broad Market | Whole market | +11.8% | 17.8% | 0.72 | −21.3% | — | 0.56 | 0.85% |
| 98 | ANGLVanEck Fallen Angel High Yield Bond ETF · Multi-Asset | Whole market | +1.9% | 7.7% | 0.28 | −29.3% | +60.5% | 0.65 | 0.25% |
| 99 | QGROAmerican Century U.S. Quality Growth ETF · Broad Market | Whole market | +9.9% | 21.2% | 0.55 | −32.6% | — | 0.66 | 0.29% |
| 100 | BSCTInvesco BulletShares 2029 Corporate Bond ETF · Bonds | Whole market | +1.2% | 5.7% | 0.24 | −19.1% | — | 0.55 | 0.10% |
HD against its popular alternatives
The investments people most often weigh against HD, compared period by period and year by year.
How do HD'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 HD, which divides the map into what did better or worse on each measure.
- None of the 15 popular alternatives earned more than HD over the past 5 years with smaller price swings, so every higher return on the map came with a bumpier ride.
- Ten of the 15 popular alternatives earned less than HD over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, HD returned -0.0% a year, less than the S&P 500's 12.7%, with higher volatility (24.7% against 17.1%).
Green points earned more than HD 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 |
|---|---|---|
| WSM Williams-Sonoma, Inc. | +24.5% | 44.4% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| DHI D.R. Horton, Inc. | +10.5% | 35.9% |
| MAS Masco Corporation | +6.2% | 31.1% |
| ETD Ethan Allen Interiors Inc. | +5.8% | 33.7% |
| HVT Haverty Furniture Companies, Inc. | +3.8% | 36.6% |
| HD This pageThe Home Depot, Inc. | 0.0% | 24.7% |
| LOW Lowe's Companies, Inc. | −0.6% | 26.4% |
| BLDR Builders FirstSource, Inc. | −1.6% | 46.7% |
| TSCO Tractor Supply Company | −2.3% | 29.3% |
| LEN Lennar Corporation | −3.5% | 35.5% |
| FBIN Fortune Brands Innovations, Inc. | −12.0% | 38.1% |
| W Wayfair Inc. | −14.5% | 81.8% |
| SITE SiteOne Landscape Supply, Inc. | −14.6% | 41.3% |
| FND Floor & Decor Holdings, Inc. | −18.8% | 47.0% |
| RH Rh | −29.3% | 62.7% |
| WHR Whirlpool Corporation | −29.8% | 41.4% |
Has HD consistently beaten its popular alternatives?
This section compares HD 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 HD helps separate lasting outperformance from a single strong stretch.
- Four of the 16 popular alternatives, led by WSM, DHI and MAS, outperformed HD in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- WSM and DHI outperformed HD in every long-term period and in all but one short-term period, the most consistent record in the group.
A green cell means the alternative earned more than HD 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 | ||
| HD The Home Depot, Inc. (this page) | — | +6.0% | −4.7% | −8.9% | −6.9% | −16.7% | +18.8% | −0.2% | +217% | 24.7% | 0.12 | −38.0% | — | $314B | — |
| WSM QualifiedWilliams-Sonoma, Inc. | 5/5 short3/3 longAll-weather | +12.2% | +14.1% | +26.5% | +37.0% | +35.6% | +238% | +199% | +1,268% | 44.4% | 0.71 | −59.7% | — | $30B | — |
| DHI QualifiedD.R. Horton, Inc. | 4/5 short3/3 longAll-weather | +0.7% | −2.9% | −8.0% | −3.0% | −7.7% | +43.7% | +65.0% | +434% | 35.9% | 0.46 | −53.6% | — | $39B | — |
| MAS QualifiedMasco Corporation | 5/5 short2/3 long | +10.2% | −3.2% | +13.0% | +17.4% | +10.7% | +57.7% | +35.3% | +162% | 31.1% | 0.35 | −44.7% | — | $15B | — |
| HVT QualifiedHaverty Furniture Companies, Inc. | 4/5 short2/3 long | +3.1% | +13.5% | +25.3% | +26.1% | +49.4% | +20.7% | +20.5% | +204% | 36.6% | 0.28 | −57.7% | — | $445M | — |
| W Specialty RetailWayfair Inc. | 5/5 short1/3 long | +8.2% | +29.4% | +40.0% | +6.6% | +36.6% | +159% | −54.2% | +213% | 81.8% | 0.21 | −93.0% | — | $16B | — |
| ARHS Specialty RetailArhaus, Inc. | 5/5 short1/3 long | +22.9% | +43.4% | +33.1% | −0.9% | +5.5% | +31.2% | — | — | — | — | −69.3% | — | $1.5B | — |
| ETD Furnishings, Fixtures & AppliancesEthan Allen Interiors Inc. | 4/5 short1/3 long | −3.9% | +2.2% | +5.9% | +7.0% | −9.1% | −1.2% | +32.8% | +38.1% | 33.7% | 0.34 | −73.7% | — | $508M | — |
| LOW Home ImprovementLowe's Companies, Inc. | 1/5 short1/3 long | +4.0% | −2.4% | −20.8% | −18.3% | −16.4% | +10.7% | −3.2% | +236% | 26.4% | 0.11 | −48.6% | — | $111B | — |
| BLDR Construction MaterialsBuilders FirstSource, Inc. | 0/5 short1/3 long | −7.9% | −25.8% | −41.0% | −48.5% | −56.0% | −50.7% | −7.5% | +417% | 46.7% | 0.20 | −76.1% | — | $5.8B | — |
| RH Specialty RetailRh | 0/5 short1/3 long | −5.9% | −34.9% | −16.1% | −38.1% | −33.4% | −48.5% | −82.4% | +302% | 62.7% | -0.24 | −85.0% | — | $2.3B | — |
| TSCO Specialty RetailTractor Supply Company | 1/5 short0/3 long | +1.8% | +9.4% | −25.5% | −34.0% | −39.0% | −10.7% | −10.8% | +198% | 29.3% | 0.07 | −52.7% | — | $17B | — |
| FBIN Construction MaterialsFortune Brands Innovations, Inc. | 1/5 short0/3 long | +3.0% | −18.3% | −0.1% | −18.5% | −17.9% | −25.1% | −47.3% | +2.4% | 38.1% | -0.15 | −62.4% | — | $4.9B | — |
| SITE Industrial - DistributionSiteOne Landscape Supply, Inc. | 0/5 short0/3 long | +5.8% | −6.0% | −34.8% | −22.8% | −20.4% | −29.6% | −54.7% | +202% | 41.3% | -0.18 | −65.7% | — | $4.2B | — |
| LEN Residential ConstructionLennar Corporation | 0/5 short0/3 long | +1.4% | −4.5% | −14.9% | −22.8% | −36.1% | −20.2% | −16.5% | +112% | 35.5% | 0.07 | −60.2% | — | $19B | — |
| WHR Furnishings, Fixtures & AppliancesWhirlpool Corporation | 0/5 short0/3 long | −14.1% | −24.0% | −51.0% | −61.9% | −60.4% | −74.6% | −82.9% | −75.0% | 41.4% | -0.65 | −86.5% | — | $1.8B | — |
| FND Home ImprovementFloor & Decor Holdings, Inc. | 0/5 short0/3 long | −4.3% | −16.1% | −17.2% | −28.2% | −37.3% | −45.1% | −64.8% | — | 47.0% | -0.21 | −69.7% | — | $4.8B | — |
How did HD do year by year?
This table shows each investment's total return in every full calendar year since 1997, along with where HD ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with HD and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- HD finished ahead of the S&P 500 in 17 of its 29 full calendar years, and behind it in each of the last four.
- Ranked against its popular alternatives each year, HD finished in the top quarter in eight of 29 years and in the bottom quarter in four. In 2025, it ranked 9 of 17.
- Among its popular alternatives, SITE came out ahead of HD most often, in five of the nine years both traded.
Newest year first. Green marks a year in which the fund came out ahead of HD; gray means the two finished within a fraction of a point. The rank row places HD among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of HD | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HD This pageThe Home Depot, Inc. | — | −9.3% | +15.0% | +12.8% | −22.0% | +59.5% | +24.5% | +30.6% | −7.3% | +43.8% | +3.5% | +28.5% | +30.3% | +35.9% | +50.3% | +23.5% | +25.1% | +30.5% | −11.4% | −31.1% | +1.0% | −4.3% | +21.4% | +49.1% | −52.6% | +12.1% | −33.3% | +69.1% | +109% | +76.9% |
| Rank among alternatives | Top quarter in 8 of 29 | 9 of 17 | 4 of 17 | 14 of 17 | 7 of 17 | 5 of 16 | 14 of 16 | 12 of 16 | 6 of 16 | 7 of 15 | 5 of 14 | 4 of 14 | 4 of 13 | 9 of 13 | 8 of 12 | 2 of 11 | 5 of 11 | 8 of 11 | 4 of 11 | 7 of 11 | 4 of 11 | 7 of 10 | 3 of 10 | 4 of 10 | 10 of 10 | 9 of 10 | 8 of 10 | 1 of 10 | 2 of 10 | 2 of 10 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 11 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% |
| WSM Williams-Sonoma, Inc. | 14 of 29 | −2.1% | +86.6% | +80.3% | −30.5% | +68.6% | +42.4% | +50.0% | +0.7% | +10.2% | −14.8% | −21.4% | +32.6% | +36.1% | +16.5% | +9.7% | +75.3% | +175% | −68.8% | −16.5% | −26.5% | +23.1% | +0.7% | +28.2% | +26.6% | +114% | −56.5% | +14.1% | +92.7% | +15.1% |
| DHI D.R. Horton, Inc. | 14 of 29 | +4.2% | −7.2% | +72.1% | −16.8% | +58.7% | +32.2% | +54.3% | −31.3% | +89.0% | −13.7% | +27.9% | +14.3% | +12.8% | +59.5% | +7.0% | +11.1% | +56.0% | −44.9% | −48.6% | −24.4% | +19.5% | +41.4% | +152% | −19.0% | +48.8% | +94.5% | −39.3% | +32.7% | +61.4% |
| MAS Masco Corporation | 11 of 29 | −10.9% | +10.1% | +46.6% | −32.1% | +29.6% | +16.1% | +66.3% | −32.7% | +40.6% | +13.1% | +29.6% | +12.3% | +38.7% | +62.9% | −14.9% | −6.1% | +29.5% | −45.8% | −25.1% | +1.8% | −15.4% | +36.2% | +33.7% | −12.0% | −2.4% | +3.8% | −10.3% | +14.9% | +43.3% |
| HVT Haverty Furniture Companies, Inc. | 13 of 29 | +11.3% | −34.4% | +27.2% | +4.8% | +20.5% | +51.4% | +11.4% | −9.9% | −2.7% | +17.5% | −1.0% | −25.9% | +93.7% | +59.3% | −14.6% | −4.4% | +47.3% | +5.8% | −37.9% | +16.9% | −29.0% | −5.5% | +44.9% | −14.5% | +70.2% | −20.3% | +22.3% | +58.5% | +21.7% |
| W Wayfair Inc. | 6 of 11 | +127% | −28.2% | +87.6% | −82.7% | −15.9% | +150% | +0.3% | +12.2% | +129% | −26.4% | +140% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| ARHS Arhaus, Inc. | 2 of 4 | +19.2% | −17.9% | +21.6% | −26.5% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| ETD Ethan Allen Interiors Inc. | 9 of 29 | −13.2% | −5.9% | +28.8% | +7.4% | +44.1% | +11.2% | +18.9% | −35.8% | −20.5% | +35.3% | −8.5% | +3.5% | +19.6% | +11.9% | +19.9% | +51.2% | −3.8% | −47.7% | −19.2% | +0.8% | −6.9% | −3.3% | +22.8% | −16.9% | +24.6% | +5.1% | +17.9% | +6.5% | +101% |
| LOW Lowe's Companies, Inc. | 15 of 29 | −0.3% | +13.0% | +14.0% | −21.5% | +63.4% | +36.4% | +32.2% | +1.2% | +31.3% | −4.9% | +12.2% | +41.3% | +41.7% | +42.9% | +3.4% | +9.2% | +10.7% | −3.4% | −26.7% | −6.1% | +16.1% | +4.2% | +48.1% | −19.1% | +109% | −25.3% | +17.0% | +117% | +34.5% |
| BLDR Builders FirstSource, Inc. | 8 of 20 | −28.0% | −14.4% | +157% | −24.3% | +110% | +60.6% | +133% | −49.9% | +98.6% | −1.0% | +61.3% | −3.6% | +27.8% | +174% | +3.5% | −48.7% | +151% | −78.8% | −59.5% | −16.6% | — | — | — | — | — | — | — | — | — |
| RH Rh | 7 of 13 | −54.5% | +35.0% | +9.1% | −50.1% | +19.8% | +110% | +78.2% | +39.0% | +181% | −61.4% | −17.3% | +42.7% | +99.5% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| TSCO Tractor Supply Company | 16 of 29 | −4.2% | +25.4% | −2.5% | −4.0% | +71.5% | +52.4% | +13.6% | +13.4% | +0.4% | −10.4% | +9.5% | +2.4% | +77.0% | +27.2% | +45.3% | +84.5% | +46.9% | +0.7% | −20.0% | −15.5% | +43.0% | −5.1% | +108% | +121% | +301% | −46.9% | −33.3% | +62.7% | −28.5% |
| FBIN Fortune Brands Innovations, Inc. | 5 of 14 | −25.4% | −9.1% | +35.2% | −36.5% | +26.0% | +32.9% | +74.9% | −43.7% | +29.5% | −2.6% | +24.0% | +0.2% | +57.6% | +71.6% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| SITE SiteOne Landscape Supply, Inc. | 5 of 9 | −5.5% | −18.9% | +38.5% | −51.6% | +52.7% | +75.0% | +64.0% | −27.9% | +121% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| LEN Lennar Corporation | 13 of 29 | −23.3% | −7.4% | +66.8% | −20.7% | +53.9% | +37.9% | +42.9% | −37.9% | +47.7% | −11.9% | +9.5% | +13.7% | +2.7% | +97.9% | +5.7% | +48.3% | +49.5% | −49.9% | −65.3% | −13.0% | +8.7% | +19.4% | +105% | +10.4% | +29.3% | +124% | −35.6% | +17.5% | +59.2% |
| WHR Whirlpool Corporation | 11 of 29 | −33.0% | +0.6% | −9.1% | −37.1% | +33.3% | +26.5% | +42.8% | −34.5% | −4.9% | +26.7% | −22.7% | +25.8% | +57.1% | +120% | −45.0% | +12.4% | +103% | −48.0% | +0.2% | +1.1% | +24.0% | −2.2% | +42.4% | −27.2% | +57.3% | −24.6% | +20.2% | +3.0% | +21.0% |
| FND Floor & Decor Holdings, Inc. | 3 of 8 | −38.9% | −10.6% | +60.2% | −46.4% | +40.0% | +82.7% | +96.2% | −46.8% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Risk and diversification
How HD 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 HD's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents HD's five deepest drawdowns since it began trading in 1986, 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.
- In all three of HD's worst declines, the S&P 500 held up better over the same dates.
- The slowest recovery came after HD fell 70.5% from December 1999 to March 2009; it did not regain that peak until August 2012, three years later.
Green means HD fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | HD fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| Dot-com bust | −70.5% | −45.4% | Dec 1999 | Mar 2009 | 9.3 years | Aug 2012 | 3.4 years |
| No named crash | −53.3% | — | Aug 1987 | Oct 1987 | 2 months | Jun 1988 | 8 months |
| Covid crash | −38.0% | −31.7% | Feb 2020 | Mar 2020 | 1 month | May 2020 | 2 months |
| No named crash | −37.1% | — | Jul 1990 | Oct 1990 | 3 months | Jan 1991 | 3 months |
| 2022 bear market | −34.7% | −21.0% | Dec 2021 | Sep 2022 | 9 months | Mar 2024 | 18 months |
How did HD do in stock market crashes?
This section measures how far HD, 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.
- Among its popular alternatives, HVT held up best, falling less than HD in eight of the ten crashes they both traded through.
- HD fell further than the S&P 500 in six of the ten crashes it has traded through. The clearest case was the dot-com bust, when HD fell 64.9% and the S&P 500 fell 47.5%.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than HD.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HD This pageThe Home Depot, Inc. | — | −1.8% | −34.2% | −38.0% | −25.1% | −6.6% | −16.9% | −22.2% | −1.6% | −44.3% | −64.9% |
| SPY S&P 500State Street SPDR S&P 500 ETF | 6 of 10 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| WSM Williams-Sonoma, Inc. | 3 of 10 | −4.5% | −35.8% | −58.6% | −30.5% | −2.0% | −44.5% | −26.1% | −0.6% | −85.3% | −63.8% |
| DHI D.R. Horton, Inc. | 4 of 10 | −0.9% | −42.4% | −53.6% | −23.0% | −4.9% | −29.4% | −29.8% | −4.3% | −74.6% | −43.9% |
| MAS Masco Corporation | 2 of 10 | −2.4% | −34.0% | −39.2% | −28.5% | −5.1% | −22.8% | −39.7% | −6.7% | −83.8% | −39.0% |
| HVT Haverty Furniture Companies, Inc. | 8 of 10 | −6.2% | −23.8% | −34.1% | −14.5% | −3.0% | −27.5% | −21.1% | −0.9% | −36.7% | −53.9% |
| W Wayfair Inc. | 1 of 6 | −15.8% | −83.8% | −71.4% | −45.5% | −3.3% | −40.5% | — | — | — | — |
| ARHS Arhaus, Inc. | 0 of 2 | −31.0% | −64.1% | — | — | — | — | — | — | — | — |
| ETD Ethan Allen Interiors Inc. | 5 of 10 | −8.3% | −26.0% | −32.3% | −18.6% | −2.3% | −24.6% | −35.7% | −4.6% | −78.7% | −34.2% |
| LOW Lowe's Companies, Inc. | 4 of 10 | −2.2% | −33.5% | −48.6% | −26.1% | −6.4% | −18.0% | −20.7% | −0.8% | −52.8% | −40.9% |
| BLDR Builders FirstSource, Inc. | 1 of 9 | −7.4% | −41.4% | −62.2% | −34.8% | −5.2% | −59.9% | −59.5% | −5.0% | −92.2% | — |
| RH Rh | 1 of 6 | −9.3% | −60.0% | −67.8% | −23.8% | −7.1% | −55.3% | — | — | — | — |
| TSCO Tractor Supply Company | 8 of 10 | −0.7% | −27.8% | −32.5% | −18.7% | −3.3% | −15.0% | −21.2% | −1.6% | −42.9% | −67.4% |
| FBIN Fortune Brands Innovations, Inc. | 1 of 6 | −6.3% | −49.4% | −52.1% | −34.6% | −4.9% | −19.8% | — | — | — | — |
| SITE SiteOne Landscape Supply, Inc. | 1 of 5 | −7.0% | −57.4% | −51.2% | −38.5% | −3.4% | — | — | — | — | — |
| LEN Lennar Corporation | 3 of 10 | −1.7% | −42.2% | −58.7% | −24.0% | −3.9% | −31.9% | −31.7% | −5.2% | −85.0% | −33.5% |
| WHR Whirlpool Corporation | 2 of 10 | −3.9% | −42.0% | −56.5% | −19.6% | −7.4% | −30.3% | −33.2% | −4.6% | −78.5% | −48.5% |
| FND Floor & Decor Holdings, Inc. | 1 of 5 | −3.4% | −51.9% | −52.9% | −30.0% | −3.7% | — | — | — | — | — |
How closely does HD 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 HD with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- Only WSM, DHI and TSCO had a higher capture ratio (upside capture divided by downside capture) than HD's 0.81, out of 14 popular alternatives with the same record.
- TSCO took just 95% of the S&P 500's losses, against 117% for HD, while still keeping 83% of its gains.
- Over the past 10 years, HD captured 96% of the S&P 500's gains in rising months and 117% of its losses in falling months, with a beta of 1.00. Its share of the market's losses was larger than its share of the gains.
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 HD's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| HD This pageThe Home Depot, Inc. | 96% | 117% | 0.81 | 1.00 |
| WSM Williams-Sonoma, Inc. | 139% | 107% | 1.30 | 1.57 |
| DHI D.R. Horton, Inc. | 132% | 146% | 0.90 | 1.51 |
| TSCO Tractor Supply Company | 83% | 95% | 0.87 | 0.74 |
| LOW Lowe's Companies, Inc. | 107% | 134% | 0.80 | 1.10 |
| BLDR Builders FirstSource, Inc. | 163% | 203% | 0.80 | 1.90 |
| HVT Haverty Furniture Companies, Inc. | 106% | 141% | 0.75 | 1.42 |
| SITE SiteOne Landscape Supply, Inc. | 116% | 161% | 0.72 | 1.31 |
| MAS Masco Corporation | 111% | 158% | 0.70 | 1.30 |
| RH Rh | 197% | 283% | 0.69 | 2.21 |
| LEN Lennar Corporation | 106% | 155% | 0.69 | 1.46 |
| W Wayfair Inc. | 230% | 356% | 0.65 | 3.06 |
| ETD Ethan Allen Interiors Inc. | 75% | 122% | 0.61 | 1.10 |
| FBIN Fortune Brands Innovations, Inc. | 96% | 193% | 0.50 | 1.47 |
| WHR Whirlpool Corporation | 76% | 230% | 0.33 | 1.52 |
What diversifies HD?
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 HD's. Because such investments tend not to fall at the same time, pairing HD with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in HD into GLD would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (-0.3% for HD alone, +3.8% for the mix).
- Among large ETFs, LVHI, DXJ and MLPX have moved largely independently of HD over the past 5 years, with correlations of 0.48 or lower, and each still earned a positive 5-year return.
- MCK made money in five of the eight calendar years in which HD lost money.
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 HD lost money. The last two columns show a portfolio that is 80% HD and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2025 | 2022 | 2018 | 2008 | 2007 | 2005 | 2002 | 2000 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HD The Home Depot, Inc. (this page) | 1.00 | −0.2% | 0.12 | −9.3% | −22.0% | −7.3% | −11.4% | −31.1% | −4.3% | −52.6% | −33.3% | 24.9% | −0.3% |
| LVHI InternationalFranklin International Low Volatility High Dividend Index ETF | 0.48 | +119% | 1.48 | +27.1% | +3.8% | −5.2% | — | — | — | — | — | 20.9% | +3.3% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.28 | +225% | 1.34 | +32.8% | +6.0% | −19.8% | −20.8% | −7.4% | — | — | — | 20.7% | +5.2% |
| MLPX EnergyGlobal X - MLP & Energy Infrastructure ETF | 0.42 | +135% | 0.97 | +4.9% | +21.5% | −15.5% | — | — | — | — | — | 21.7% | +4.0% |
| SMH TechnologyVanEck Semiconductor ETF | 0.43 | +323% | 0.97 | +49.2% | −33.5% | −9.1% | −44.7% | +6.0% | +10.8% | −47.0% | — | 23.7% | +7.2% |
| GLD CommoditiesSPDR Gold Shares | 0.14 | +126% | 0.96 | +63.7% | −0.8% | −1.9% | +4.9% | +30.4% | +17.8% | — | — | 20.7% | +3.8% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.20 | +177% | 0.93 | +7.9% | +64.4% | −18.2% | −39.0% | +36.8% | +40.1% | −14.8% | +24.4% | 21.5% | +4.8% |
| DFIV InternationalDimensional - International Value ETF | 0.48 | +99.4% | 0.93 | +45.4% | −3.7% | — | — | — | — | — | — | 21.6% | +3.1% |
| EWT TechnologyiShares MSCI Taiwan ETF | 0.35 | +153% | 0.89 | +28.4% | −28.9% | −9.9% | −45.3% | +6.4% | +4.7% | −24.4% | — | 22.2% | +4.4% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2025 | 2022 | 2018 | 2008 | 2007 | 2005 | 2002 | 2000 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HD The Home Depot, Inc. (this page) | 1.00 | −0.2% | 0.12 | −9.3% | −22.0% | −7.3% | −11.4% | −31.1% | −4.3% | −52.6% | −33.3% | 24.9% | −0.3% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.29 | +479% | 1.55 | +76.3% | +54.1% | −24.5% | −39.6% | −9.8% | +18.7% | −8.3% | +108% | 22.0% | +7.2% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.21 | +3,143% | 1.47 | +220% | +1.3% | −16.3% | −20.5% | −25.7% | −25.2% | −65.1% | −2.3% | 25.1% | +18.9% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.48 | +1,636% | 1.46 | +121% | +17.0% | +0.8% | −15.2% | +2.1% | +20.1% | −9.4% | −71.1% | 25.4% | +14.7% |
| MCK Medical - DistributionMcKesson Corporation | 0.16 | +413% | 1.44 | +44.5% | +51.8% | −28.4% | −40.4% | +29.7% | +64.9% | −27.2% | +61.2% | 21.3% | +6.8% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.13 | +690% | 1.41 | +19.2% | +86.6% | −8.2% | — | — | — | — | — | 21.7% | +9.3% |
Common questions
What was HD's worst drawdown?
HD's deepest decline since it began trading in 1986 was 70.5%, from December 1999 to March 2009. It took about three years from the low to climb back to its old high.
What were HD's best and worst years?
Over 29 full calendar years, HD's best year was 1998, when it returned 108%. Its worst was 2002, with a return of -52.6%.
Is there a better investment than HD?
Among HD's popular alternatives, WSM, DHI and MAS were ahead of HD in most short and long periods, though with much bigger swings (44.4%, 35.9% and 31.1% volatility against 24.7%). Looking beyond its popular alternatives, COST (discount retail) and WMT (discount retail) earned more than HD with less volatility over the past 5 years. COST returned 17.4% a year at 22.9% volatility, against a loss of 0.0% a year at 24.7%.
Is HD more volatile than the S&P 500?
Yes. HD's volatility over the past 5 years was 24.7%, 1.4 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, HD's return lands within 24.7% 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 HD's Sharpe ratio?
HD's Sharpe ratio over the past 5 years was 0.12, against 0.79 for the S&P 500, so HD 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 HD with the S&P 500?
Over the past 5 years, HD's monthly returns had a correlation of 0.63 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 HD instead: the lower it is, the more that option would diversify a HD holding.
What are the best alternatives to HD?
Of the 16 popular alternatives we compared, four outperformed HD in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: WSM, DHI and MAS.
Did HD outperform the S&P 500?
HD finished ahead of the S&P 500 (SPY) in 17 of 29 full calendar years. In 2025, it returned -9.3%, against +17.7% for the index.
How did HD do in stock market crashes?
HD fell less than the S&P 500 (SPY) in two of the ten major crashes it has traded through, and further in six. The clearest case was the dot-com bust, when HD fell 64.9% and the S&P 500 fell 47.5%.
What diversifies HD?
These had a low correlation with HD over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.48), DXJ (correlation 0.28) and MLPX (correlation 0.42); among large stocks, CAH (correlation 0.29), CLS (correlation 0.21) and FIX (correlation 0.48). 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 HD's. Returns within 0.5 points or 3% of HD'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.
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