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Relative Intelligence · Hotels & Resorts

How Hilton Worldwide (HLT) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on HLT alone. It places HLT (Hilton Worldwide Holdings Inc.) against 13 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 HLT stands in the market, and of the alternatives worth a closer look.

Period covered: HLT's full trading record, from December 2013 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.

Rank the market against HLT →Chart HLT vs. 13 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in HLT over the past 12 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of HLT over the same span and HLT'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: HLT began trading on December 12, 2013, so the chart cannot reach back to the dot-com bust, the 2008 financial crisis or two other sell-offs. It covers the most recent 12 years of HLT's record, starting at the end of September 2014.

Choose a period

From the end of September 2014 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. 284 of the 2,461 stocks and funds worth at least $500 million that traded the whole period ended ahead of HLT; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M2014201620182020202220242026$10,000$100,000$1M20142017202020232026
  • NVDA$5M+52,047% total · +68.4% a year
  • LLY$220,143+2,101% total · +29.4% a year
  • APH$156,114+1,461% total · +25.7% a year
  • AAPL$150,144+1,401% total · +25.3% a year
  • ABBV$73,115+631% total · +18.0% a year
  • HLT$66,678+567% total · +17.1% a year
  • MAR$57,142+471% total · +15.6% a year
  • SPY (S&P 500)$47,240+372% total · +13.8% a year
  • EXPE$32,136+221% total · +10.2% a year
  • VAC$20,773+108% total · +6.3% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 534 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of HLT; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000$60,000202120222023202420252026$0$20,000$40,000$60,000202120222023202420252026
  • LLY$52,411+424% total · +39.3% a year
  • CAH$49,682+397% total · +37.8% a year
  • DXJ$32,976+230% total · +27.0% a year
  • ABBV$29,134+191% total · +23.8% a year
  • TRV$25,788+158% total · +20.9% a year
  • MAR$25,049+150% total · +20.2% a year
  • HLT$24,416+144% total · +19.5% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • EXPE$16,292+62.9% total · +10.3% a year
  • VAC$7,631−23.7% total · −5.3% a year
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HLT 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: HLT began trading on December 12, 2013, 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 two other sell-offs.

The company

Market value
$81B
Industry
Travel Lodging
Price history from
December 2013

Returns

Past 1 year
+37.9%total return
Past 3 years
+145%+34.9% a year
Past 5 years
+160%+21.0% a year
Past 10 years
+694%+23.0% a year
Best calendar year
+55.5%2019
Worst calendar year
−18.7%2022
Losing years
3 of 12full calendar years

Risk

Volatility
26.8%typical yearly swing, 5 years
Sharpe ratio
0.85return per unit of risk, 5 years
Worst decline ever
−50.8%Jan 2020 to Apr 2020
From its all-time high
At its highwithin 1%

HLT against the whole market

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

How does HLT rank among all stocks?

This section ranks HLT 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 HLT stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureHLTRankStanding
1-year return+37.9%779 of 3,287top 24%
3-year return+145%627 of 3,017top 21%
5-year return+160%415 of 2,893top 14%
10-year return+694%192 of 2,202top 9%
Volatility, 5 years26.8%466 of 2,893top 16%
Sharpe ratio, 5 years0.85230 of 2,893top 8%
Worst decline, past 10 years−50.8%491 of 2,187top 22%

What has beaten HLT 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). HLT sits where the dashed lines cross. Anything in the green box above and to the left earned more than HLT with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to HLT; faint dots are 12 more of the 16 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.

15.0%17.5%20.0%22.5%25.0%27.5%30.0%32.5%35.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than HLTMFC: +22.6% a year, volatility 24.0%MCK: +38.7% a year, volatility 25.0%GILD: +22.8% a year, volatility 24.9%COR: +24.2% a year, volatility 22.8%GWW: +26.3% a year, volatility 24.9%DTM: +24.5% a year, volatility 25.2%EPU: +29.5% a year, volatility 24.9%MPLX: +23.5% a year, volatility 18.8%WELL: +26.0% a year, volatility 23.8%BNY: +22.7% a year, volatility 24.4%WMB: +24.6% a year, volatility 24.0%KOF: +22.3% a year, volatility 24.7%HLT: +21.0% a year, volatility 26.8%SPY (S&P 500): +12.7% a year, volatility 17.1%LLY: +40.7% a year, volatility 32.8%CAH: +42.1% a year, volatility 24.7%ABBV: +26.1% a year, volatility 23.4%TRV: +22.4% a year, volatility 22.3%DXJ: +26.6% a year, volatility 19.1%NHC: +32.0% a year, volatility 28.5%APH: +33.8% a year, volatility 32.2%SDCI: +20.6% a year, volatility 18.4%HLTSPY (S&P 500)LLYCAHABBVTRVDXJNHCAPHSDCI15.0%20.0%25.0%30.0%35.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than HLTMFC: +22.6% a year, volatility 24.0%MCK: +38.7% a year, volatility 25.0%GILD: +22.8% a year, volatility 24.9%COR: +24.2% a year, volatility 22.8%GWW: +26.3% a year, volatility 24.9%DTM: +24.5% a year, volatility 25.2%EPU: +29.5% a year, volatility 24.9%MPLX: +23.5% a year, volatility 18.8%WELL: +26.0% a year, volatility 23.8%BNY: +22.7% a year, volatility 24.4%WMB: +24.6% a year, volatility 24.0%KOF: +22.3% a year, volatility 24.7%HLT: +21.0% a year, volatility 26.8%SPY (S&P 500): +12.7% a year, volatility 17.1%LLY: +40.7% a year, volatility 32.8%CAH: +42.1% a year, volatility 24.7%ABBV: +26.1% a year, volatility 23.4%TRV: +22.4% a year, volatility 22.3%DXJ: +26.6% a year, volatility 19.1%NHC: +32.0% a year, volatility 28.5%APH: +33.8% a year, volatility 32.2%SDCI: +20.6% a year, volatility 18.4%HLTSPY (S&P 500)LLYCAHABBVTRVDXJNHCAPHSDCI
  • The whole market
  • Others in the green region

Is there a better investment than HLT?

Investments that beat HLT over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat HLT 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 HLT'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 HLT 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 HLT'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× HLT's volatility counts as better.

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

Screen the whole market against HLT for any period in BetterThanSPYOpen these 9 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with HLT?lower diversifies moreExpenseper year
HLTHilton Worldwide Holdings Inc. · this page
+21.0%26.8%0.85−50.8%+694%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.710.09%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 85 of 3,612 passed at least one test.
LLYEli Lilly and Company · Pharmaceuticals
Higher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%0.16—
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, lower volatilityHigher return in most periods+42.1%24.7%1.55−46.1%+349%0.39—
ABBVAbbVie Inc. · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst decline+26.1%23.4%1.11−45.1%+603%0.17—
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Higher return, lower volatilityHigher return in most periods+22.4%22.3%1.02−46.3%+347%0.37—
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst decline+26.6%19.1%1.34−39.1%+428%0.460.48%
NHCNational HealthCare Corporation · Medical - Care Facilities
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+32.0%28.5%1.12−35.3%+394%0.21—
APHAmphenol Corporation · Electronic Components
Higher Sharpe, smaller worst declineSmaller losses in recent crashes+33.8%32.2%1.07−37.5%+965%0.49—
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline+20.6%18.4%1.12−45.7%—0.200.80%
What these numbers mean for HLT
Annual return
HLT returned 21.0% 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 $26,000. 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
HLT's volatility over the past 5 years was 26.8%, 1.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, HLT's return lands within 26.8% 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
HLT's Sharpe ratio over the past 5 years was 0.85, against 0.79 for the S&P 500, so HLT earned more 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
HLT's worst fall from a peak to a low over the past 10 years was 50.8%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 50.8% fall takes a 103% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, HLT's monthly returns had a correlation of 0.71 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 HLT instead: the lower it is, the more that option would diversify a HLT holding. Guide: Correlation and diversification →
Show all 16 stocks and funds worth at least $500 million that earned more than HLT with less volatility

Out of 3,633 tested over 5 years. Best first; funds that hold the same thing are listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with HLTExpense
1
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.39—
2
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.17—
3
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.37—
4
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.460.48%
5
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.56—
6
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.17—
7
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.21—
8
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.35—
9
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.57—
10
DTMDT Midstream, Inc. · Oil & Gas Midstream
Whole market+24.5%25.2%1.00−23.6%—0.53—
11
EPUiShares MSCI Peru and Global Exposure ETF · International
Whole market+29.5%24.9%1.17−51.0%+275%0.350.59%
12
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.55—
13
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.43—
14
BNYBank of New York Mellon Corp · Banks
Whole market+22.7%24.4%0.97−50.5%+341%0.51—
15
WMBThe Williams Companies, Inc. · Oil & Gas Midstream
Whole market+24.6%24.0%1.04−68.1%+288%0.39—
16
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.3%24.7%0.94−55.1%+119%0.36—

HLT against its popular alternatives

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

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

Green points earned more than HLT with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%−10.0%−5.0%0.0%5.0%10.0%15.0%20.0%25.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityHLT: 21.0% a year, volatility 26.8%SPY (S&P 500): 12.7% a year, volatility 17.1%EXPE: 13.3% a year, volatility 46.5%VAC: −3.0% a year, volatility 44.9%ABNB: 0.8% a year, volatility 44.3%RHP: 13.1% a year, volatility 29.9%HST: 13.8% a year, volatility 30.0%IHG: 21.3% a year, volatility 26.6%H: 16.6% a year, volatility 34.3%TNL: 9.3% a year, volatility 36.6%BKNG: 12.0% a year, volatility 33.2%CHH: −2.3% a year, volatility 30.1%HGV: −5.3% a year, volatility 39.0%WH: 1.0% a year, volatility 29.9%MAR: 22.0% a year, volatility 28.6%HLTSPY (S&P 500)EXPEVACABNBRHPHSTIHGHTNLBKNGCHHHGVWHMAR10.0%20.0%30.0%40.0%50.0%−10.0%−5.0%0.0%5.0%10.0%15.0%20.0%25.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityHLT: 21.0% a year, volatility 26.8%SPY (S&P 500): 12.7% a year, volatility 17.1%EXPE: 13.3% a year, volatility 46.5%VAC: −3.0% a year, volatility 44.9%ABNB: 0.8% a year, volatility 44.3%RHP: 13.1% a year, volatility 29.9%HST: 13.8% a year, volatility 30.0%IHG: 21.3% a year, volatility 26.6%H: 16.6% a year, volatility 34.3%TNL: 9.3% a year, volatility 36.6%BKNG: 12.0% a year, volatility 33.2%CHH: −2.3% a year, volatility 30.1%HGV: −5.3% a year, volatility 39.0%WH: 1.0% a year, volatility 29.9%MAR: 22.0% a year, volatility 28.6%HLTSPY (S&P 500)EXPEVACABNBRHPIHGHTNLBKNGCHHHGVWH
All figures
InvestmentAnnual returnVolatility
MAR Marriott International, Inc.+22.0%28.6%
IHG InterContinental Hotels Group PLC+21.3%26.6%
HLT This pageHilton Worldwide Holdings Inc.+21.0%26.8%
H Hyatt Hotels Corporation+16.6%34.3%
HST Host Hotels & Resorts, Inc.+13.8%30.0%
EXPE Expedia Group, Inc.+13.3%46.5%
RHP Ryman Hospitality Properties, Inc.+13.1%29.9%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
BKNG Booking Holdings Inc.+12.0%33.2%
TNL Travel + Leisure Co.+9.3%36.6%
WH Wyndham Hotels & Resorts, Inc.+1.0%29.9%
ABNB Airbnb, Inc.+0.8%44.3%
CHH Choice Hotels International, Inc.−2.3%30.1%
VAC Marriott Vacations Worldwide Corporation−3.0%44.9%
HGV Hilton Grand Vacations Inc.−5.3%39.0%
Open these 15 in EasyCompare

Has HLT consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than HLT over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
HLT Hilton Worldwide Holdings Inc. (this page)—+17.0%+11.1%+4.9%+22.8%+37.9%+145%+160%+694%26.8%0.85−50.8%—$81B—
MAR Travel LodgingMarriott International, Inc.2/5 short1/3 long+15.9%+8.5%+5.3%+27.5%+54.1%+117%+170%+544%28.6%0.84−61.3%—$104B—
EXPE Travel ServicesExpedia Group, Inc.2/5 short1/3 long+7.0%+13.6%+10.5%+6.9%+38.8%+226%+86.3%+154%46.5%0.50−70.5%—$34B—
VAC Gambling, Resorts & CasinosMarriott Vacations Worldwide Corporation4/5 short0/3 long+10.0%+17.0%+49.3%+98.3%+74.5%+39.2%−14.2%+115%44.9%0.16−74.9%—$3.9B—
ABNB Travel ServicesAirbnb, Inc.4/5 short0/3 long+6.1%+22.1%+23.2%+33.0%+39.1%+51.9%+4.2%—44.3%0.24−62.0%—$106B—
RHP REIT - Hotel & MotelRyman Hospitality Properties, Inc.3/5 short0/3 long+7.9%+2.7%+27.0%+40.6%+54.0%+76.2%+85.3%+269%29.9%0.56−84.6%—$8.9B—
HST REIT - Hotel & MotelHost Hotels & Resorts, Inc.3/5 short0/3 long+12.2%+4.0%+22.0%+44.6%+62.3%+93.9%+90.9%+144%30.0%0.58−55.0%—$17B—
IHG Travel LodgingInterContinental Hotels Group PLC2/5 short0/3 long+10.6%+9.7%+16.9%+22.3%+42.6%+147%+163%+383%26.6%0.86−59.3%—$25B—
H Travel LodgingHyatt Hotels Corporation0/5 short0/3 long+12.2%−7.0%+2.2%+6.7%+19.5%+77.5%+116%+260%34.3%0.62−60.5%—$17B—
TNL Travel ServicesTravel + Leisure Co.0/5 short0/3 long+6.5%−6.6%−11.7%−4.4%+15.4%+125%+55.8%+214%36.6%0.43−67.9%—$4.1B—
BKNG Travel ServicesBooking Holdings Inc.0/5 short0/3 long−2.7%−8.4%−14.2%−22.5%−19.6%+52.2%+75.9%+186%33.2%0.51−47.8%—$123B—
CHH Travel LodgingChoice Hotels International, Inc.0/5 short0/3 long+14.9%+3.5%−6.6%+19.0%+15.9%+3.4%−11.0%+176%30.1%0.07−50.5%—$5.2B—
HGV Travel LodgingHilton Grand Vacations Inc.0/5 short0/3 long+1.8%−25.1%−26.5%−20.4%−15.4%−1.8%−23.9%—39.0%0.05−77.7%—$2.8B—
WH Travel LodgingWyndham Hotels & Resorts, Inc.0/5 short0/3 long+15.2%+1.7%−13.0%+4.5%+0.3%+11.5%+4.9%—29.9%0.18−66.1%—$5.7B—
Open these 14 in EasyCompare

How did HLT do year by year?

This table shows each investment's total return in every full calendar year since 2014, along with where HLT ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with HLT and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: HLT began trading on December 12, 2013, so the table starts with 2014, its first full calendar year, and cannot show how it fared during the dot-com bust, the 2008 financial crisis or two other sell-offs.

Newest year first. Green marks a year in which the fund came out ahead of HLT; gray means the two finished within a fraction of a point. The rank row places HLT among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of HLT202520242023202220212020201920182017201620152014
HLT This pageHilton Worldwide Holdings Inc.—+16.5%+36.1%+44.7%−18.7%+40.2%+0.5%+55.5%−9.4%+44.5%+28.7%−17.5%+17.3%
Rank among alternativesTop quarter in 4 of 123 of 143 of 147 of 147 of 144 of 145 of 132 of 136 of 125 of 115 of 118 of 118 of 11
SPY S&P 500State Street SPDR S&P 500 ETF4 of 12+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%
MAR Marriott International, Inc.5 of 12+12.3%+24.9%+53.0%−9.3%+25.3%−12.5%+41.5%−19.0%+66.2%+25.4%−13.0%+60.0%
EXPE Expedia Group, Inc.6 of 12+53.3%+22.8%+73.3%−51.5%+36.5%+22.9%−2.9%−5.0%+6.7%−8.1%+46.8%+23.5%
VAC Marriott Vacations Worldwide Corporation5 of 12−32.7%+9.6%−35.3%−18.9%+24.0%+7.1%+85.9%−47.0%+61.5%+51.8%−22.5%+41.8%
ABNB Airbnb, Inc.1 of 5+3.3%−3.5%+59.2%−48.6%+13.4%———————
RHP Ryman Hospitality Properties, Inc.4 of 12−4.8%−1.1%+40.4%−10.7%+35.7%−19.6%+35.7%+1.0%+15.1%+29.4%+2.9%+32.2%
HST Host Hotels & Resorts, Inc.2 of 12+7.2%−4.9%+27.6%−4.7%+18.8%−19.7%+16.6%−12.2%+10.2%+29.5%−32.5%+26.7%
IHG InterContinental Hotels Group PLC5 of 12+14.5%+39.1%+59.6%−8.7%+0.1%−5.2%+27.9%−12.5%+45.3%+44.2%−0.8%+13.5%
H Hyatt Hotels Corporation3 of 12+2.6%+20.9%+44.8%−5.7%+29.2%−17.0%+34.1%−7.4%+33.1%+17.5%−21.9%+21.7%
TNL Travel + Leisure Co.4 of 12+45.5%+34.7%+12.5%−31.7%+26.0%−8.6%+50.1%−29.0%+55.4%+8.1%−13.5%+18.5%
BKNG Booking Holdings Inc.6 of 12+8.6%+41.3%+76.0%−16.0%+7.7%+8.5%+19.2%−0.9%+18.5%+15.0%+11.8%−1.9%
CHH Choice Hotels International, Inc.4 of 12−32.3%+26.2%+1.6%−27.1%+46.7%+3.6%+45.9%−6.7%+40.2%+13.1%−8.7%+16.3%
HGV Hilton Grand Vacations Inc.1 of 8+14.9%−3.1%+4.3%−26.0%+66.2%−8.8%+30.3%−37.1%————
WH Wyndham Hotels & Resorts, Inc.1 of 7−23.5%+27.7%+14.9%−19.0%+52.6%−4.1%+41.4%—————
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Risk and diversification

How HLT 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 HLT's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents HLT's five deepest drawdowns since it began trading in 2013, 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: HLT began trading on December 12, 2013, so this list cannot include the dot-com bust, the 2008 financial crisis or two other sell-offs. The crash tests on this page show how older funds and the S&P 500 fared through those years.

Green means HLT fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringHLT fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Covid crash−50.8%−24.8%Jan 2020Apr 20203 monthsJan 20219 months
2015 China and oil sell-off−44.4%−8.0%Apr 2015Jan 20169 monthsMay 201716 months
2022 bear market−32.6%−13.5%Apr 2022Jul 20223 monthsNov 202316 months
Late-2018 sell-off−26.8%−6.2%Jan 2018Oct 20189 monthsApr 20196 months
No named crash−26.4%−17.5%Feb 2025Apr 20252 monthsJul 20253 months

How did HLT do in stock market crashes?

This section measures how far HLT, 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: HLT began trading on December 12, 2013, so its row reads "Not yet trading" for the dot-com bust, the 2008 financial crisis or two other sell-offs. The older alternatives and the S&P 500 show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than HLT.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
HLT This pageHilton Worldwide Holdings Inc.—−6.7%−32.6%−49.6%−22.2%−4.8%−34.1%Not yet tradingNot yet tradingNot yet tradingNot yet trading
SPY S&P 500State Street SPDR S&P 500 ETF5 of 6−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
MAR Marriott International, Inc.2 of 6−7.4%−29.9%−56.6%−24.0%−5.2%−24.9%−25.6%−2.8%−70.1%−46.2%
EXPE Expedia Group, Inc.2 of 6−11.4%−58.2%−62.4%−18.2%−19.6%−33.2%−22.9%−4.7%−82.5%—
VAC Marriott Vacations Worldwide Corporation0 of 6−11.5%−33.8%−71.1%−47.7%−6.6%−41.8%————
ABNB Airbnb, Inc.0 of 2−7.2%−52.3%————————
RHP Ryman Hospitality Properties, Inc.2 of 6−8.5%−26.0%−84.3%−24.5%−8.3%−22.0%−43.5%−4.2%−91.0%−43.1%
HST Host Hotels & Resorts, Inc.3 of 6−7.0%−27.5%−46.4%−24.8%−6.8%−33.0%−39.9%−4.0%−84.5%−52.6%
IHG InterContinental Hotels Group PLC3 of 6−4.1%−32.8%−56.8%−19.7%−4.8%−20.5%−25.6%−3.7%−73.3%—
H Hyatt Hotels Corporation2 of 6−10.1%−33.2%−60.5%−21.3%−3.4%−33.6%−28.3%−3.6%——
TNL Travel + Leisure Co.1 of 6−12.8%−43.6%−65.5%−23.5%−6.6%−25.0%−27.3%−5.8%−91.1%—
BKNG Booking Holdings Inc.3 of 6−5.6%−39.5%−41.5%−19.1%−6.3%−33.7%−17.8%−3.2%−66.3%−98.9%
CHH Choice Hotels International, Inc.4 of 6−6.0%−32.3%−50.5%−20.5%−4.0%−22.9%−18.1%−2.6%−49.2%−53.5%
HGV Hilton Grand Vacations Inc.1 of 5−10.5%−39.5%−67.1%−26.2%−3.0%—————
WH Wyndham Hotels & Resorts, Inc.0 of 4−10.4%−34.1%−63.7%−22.2%——————
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How closely does HLT 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 HLT with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than HLT's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
HLT This pageHilton Worldwide Holdings Inc.121%105%1.161.18
MAR Marriott International, Inc.132%137%0.961.46
IHG InterContinental Hotels Group PLC115%125%0.921.19
RHP Ryman Hospitality Properties, Inc.109%128%0.851.46
H Hyatt Hotels Corporation115%143%0.811.42
BKNG Booking Holdings Inc.99%123%0.811.17
CHH Choice Hotels International, Inc.85%105%0.811.06
TNL Travel + Leisure Co.124%167%0.741.54
EXPE Expedia Group, Inc.104%144%0.721.48
HST Host Hotels & Resorts, Inc.97%136%0.711.22
VAC Marriott Vacations Worldwide Corporation121%195%0.621.88
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What diversifies HLT?

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 HLT's. Because such investments tend not to fall at the same time, pairing HLT with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which HLT lost money. The last two columns show a portfolio that is 80% HLT and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe20222018201580/20 mix volatility80/20 mix annual return
HLT Hilton Worldwide Holdings Inc. (this page)1.00+160%0.85−18.7%−9.4%−17.5%24.2%+19.6%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.46+225%1.34+6.0%−19.8%+7.7%20.6%+21.4%
SMH TechnologyVanEck Semiconductor ETF0.47+323%0.97−33.5%−9.1%−0.3%23.4%+23.8%
GLD CommoditiesSPDR Gold Shares0.04+126%0.96−0.8%−1.9%−10.7%19.8%+20.1%
XLE EnergyState Street Energy Select Sector SPDR ETF0.32+177%0.93+64.4%−18.2%−21.5%21.6%+21.0%
EWT TechnologyiShares MSCI Taiwan ETF0.44+153%0.89−28.9%−9.9%−12.9%22.1%+20.6%
EUFN InternationaliShares MSCI Europe Financials ETF0.45+133%0.89−8.8%−23.1%−4.7%21.4%+20.3%
IDV InternationaliShares International Select Dividend ETF0.45+82.6%0.86−6.5%−10.4%−10.7%21.1%+18.8%
EDIV InternationalState Street SPDR S&P Emerging Markets Dividend ETF0.41+69.9%0.84−15.3%−6.2%−27.4%20.5%+18.3%

Stocks

InvestmentCorrelation5Y returnSharpe20222018201580/20 mix volatility80/20 mix annual return
HLT Hilton Worldwide Holdings Inc. (this page)1.00+160%0.85−18.7%−9.4%−17.5%24.2%+19.6%
CAH Medical - DistributionCardinal Health, Inc.0.39+479%1.55+54.1%−24.5%+12.6%21.9%+23.8%
CLS Hardware, Equipment & PartsCelestica Inc.0.40+3,143%1.47+1.3%−16.3%−6.0%26.3%+36.7%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.44+1,636%1.46+17.0%+0.8%+67.7%24.6%+32.6%
MCK Medical - DistributionMcKesson Corporation0.17+413%1.44+51.8%−28.4%−4.5%20.8%+23.4%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.31+690%1.41+86.6%−8.2%+17.4%22.2%+25.9%
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Common questions

What was HLT's worst drawdown?

HLT's deepest decline since it began trading in 2013 was 50.8%, from January to April 2020. It took nine months from the low to climb back to its old high. Because HLT launched in December 2013, that record does not include the dot-com bust, the 2008 financial crisis or two other sell-offs.

What were HLT's best and worst years?

Over 12 full calendar years, HLT's best year was 2019, when it returned 55.5%. Its worst was 2022, with a return of -18.7%.

Is there a better investment than HLT?

Few investments have done better on both counts: only 16 of the 3,633 stocks and funds worth at least $500 million earned more than HLT with less volatility over the past 5 years, among them ABBV, GILD and WELL.

Is HLT more volatile than the S&P 500?

Yes. HLT's volatility over the past 5 years was 26.8%, 1.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, HLT's return lands within 26.8% 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 HLT's Sharpe ratio?

HLT's Sharpe ratio over the past 5 years was 0.85, against 0.79 for the S&P 500, so HLT earned more 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 HLT with the S&P 500?

Over the past 5 years, HLT's monthly returns had a correlation of 0.71 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 HLT instead: the lower it is, the more that option would diversify a HLT holding.

What are the best alternatives to HLT?

None of the 13 popular alternatives we compared outperformed HLT in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about HLT's strength than about its alternatives.

Did HLT outperform the S&P 500?

HLT finished ahead of the S&P 500 (SPY) in seven of 12 full calendar years. In 2025, it returned +16.5%, against +17.7% for the index.

How did HLT do in stock market crashes?

HLT fell less than the S&P 500 (SPY) in one of the six major crashes it has traded through, and further in five. The clearest case was the 2015 China and oil sell-off, when HLT fell 34.1% and the S&P 500 fell 12.8%.

What diversifies HLT?

These had a low correlation with HLT over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.46), SMH (correlation 0.47) and GLD (correlation 0.04); among large stocks, CAH (correlation 0.39), CLS (correlation 0.40) and FIX (correlation 0.44). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to HLT

Other stocks and ETFs