Relative Intelligence · Industrial Conglomerates
How Honeywell International (HON) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on HON alone. It places HON (Honeywell International Inc.) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where HON stands in the market, and of the alternatives worth a closer look.
Period covered: HON'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 nowHON has gone against the market, falling 10.7% over the past 6 months while the S&P 500 rose 9.1%. Its industrial conglomerate peers were far apart over the past 6 months, from RTX (down 0.5%) to CW (Curtiss-Wright, down 32.1%). Consistency ↓
- Stock or market?Not a move of its own: the industrial conglomerates ETF XLI (State Street Industrial Select Sector SPDR ETF) fell 6.1% over the past 3 months, with GE (GE Aerospace, down 12.0%) and ETN (Eaton, down 4.6%), while the S&P 500 rose 3.9%. Last month cut against the tape: HON rose 3.3% while the S&P 500 fell 0.6%.
- Past 1 to 3 yearsOver the past year, HON rose 6.8% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (27.0% against 89.3%). The last two calendar years both went the same way: HON fell 6.3% in 2025, against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. By year ↓
- Long termHON turned $10,000 into $26,000 over the past decade, against $42,100 in the S&P 500. Growth of $10,000 ↓
- In a crashAcross seven sell-offs, HON has typically fallen 1.2 times as far as the S&P 500. On the flip side, in the 2022 bear market, HON held up better than GE (GE Aerospace), ETN and PH; only HEI (HEICO) and CW fell less. Crash tests ↓
- DiversificationAgainst the S&P 500, HON has a correlation of 0.55 over 5 years, more closely than 82% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Market capture ↓
- Better options
- Popular alternatives
- ITW (Illinois Tool Works) earned more than HON with less volatility over the past 5 years: 6.7% a year at 21.4% volatility, against 1.5% a year at 22.8%.
- Nearby categories and themes
- ADI (Analog Devices, industrial automation theme) earned more for the risk it took than HON over the past 5 years, and its worst fall in 10 years was 33.6%, against 43.0% for HON.
- Whole market
- 715 of the 3,633 stocks and funds worth at least $500 million earned more than HON 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 HON have grown?
This chart tracks a hypothetical $10,000 investment in HON over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of HON over the same span and HON'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 HON at the end of September 1997 would have grown to $84,134 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- All eight other investments on the chart ended ahead of HON, and AME finished highest, at $869,262.
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. 596 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of HON; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- AME$869,262+8,593% total · +16.6% a year
- JCI$864,263+8,543% total · +16.6% a year
- CAT$615,591+6,056% total · +15.3% a year
- MSFT$508,386+4,984% total · +14.5% a year
- PH$505,227+4,952% total · +14.5% a year
- TT$405,736+3,957% total · +13.6% a year
- ITW$188,355+1,784% total · +10.7% a year
- SPY (S&P 500)$132,907+1,229% total · +9.3% a year
- EMR$115,655+1,057% total · +8.8% a year
- HON$84,134+741% total · +7.6% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 2,284 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of HON; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- CAT$46,130+361% total · +35.8% a year
- PH$36,392+264% total · +29.5% a year
- TT$27,878+179% total · +22.8% a year
- RTX$24,048+140% total · +19.2% a year
- AME$20,638+106% total · +15.6% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- MSFT$18,958+89.6% total · +13.6% a year
- EMR$18,174+81.7% total · +12.7% a year
- ITW$14,020+40.2% total · +7.0% a year
- HON$11,198+12.0% total · +2.3% a year
HON 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.
- HON's deepest decline since it began trading in 1986 was 70.8%, from June 1999 to October 2002. It took about five years from the low to climb back to its old high.
- Over 29 full calendar years, HON's best was 2013, when it returned 45.8%, and its worst was 2008, when it lost 45.9%. It lost money in seven of those years.
- HON is 17.3% below its all-time high.
The company
- Market value
- $68B
- Industry
- Conglomerates
- Price history from
- October 1986
Returns
- Past 1 year
- +6.8%total return
- Past 3 years
- +27.0%+8.3% a year
- Past 5 years
- +7.5%+1.5% a year
- Past 10 years
- +160%+10.0% a year
- Best calendar year
- +45.8%2013
- Worst calendar year
- −45.9%2008
- Losing years
- 7 of 29full calendar years
Risk
- Volatility
- 22.8%typical yearly swing, 5 years
- Sharpe ratio
- 0.18return per unit of risk, 5 years
- Worst decline ever
- −70.8%Jun 1999 to Oct 2002
- From its all-time high
- −17.3%below the peak
HON against the whole market
Where HON ranks among every stock and fund, and what across the market has done better.
How does HON rank among all stocks?
This section ranks HON 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 HON stacks up against its peers, these rankings show where it stands in the market as a whole.
- HON is among the steadier stocks: its price swings rank in the top 7% of the 2,893 stocks worth at least $300 million, where the top is the calmest.
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 | HON | Rank | Standing |
|---|---|---|---|
| 1-year return | +6.8% | 1,706 of 3,287 | bottom 49% |
| 3-year return | +27.0% | 1,908 of 3,017 | bottom 38% |
| 5-year return | +7.5% | 1,625 of 2,893 | bottom 45% |
| 10-year return | +160% | 1,029 of 2,202 | top 47% |
| Volatility, 5 years | 22.8% | 190 of 2,893 | top 7% |
| Sharpe ratio, 5 years | 0.18 | 1,911 of 2,893 | bottom 35% |
| Worst decline, past 10 years | −43.0% | 229 of 2,187 | top 10% |
What has beaten HON 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). HON sits where the dashed lines cross. Anything in the green box above and to the left earned more than HON 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.
- 84 stocks and 631 ETFs worth at least $500 million sit in the green region: each earned more than HON over the past 5 years with smaller price swings. That is 20% of the 3,633 screened.
- Among those with at least half HON's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 16% less than HON's 22.8%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.18 for HON.
- Among HON's popular alternatives, ITW is in the region. ITW earned 6.7% a year against 1.5% a year for HON, at 21.4% volatility, 6% less than HON's 22.8%.
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 HON; faint dots are 93 more of the 715 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× HON's volatility is in the table only
Is there a better investment than HON?
Investments that beat HON over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among HON's popular alternatives, ITW earned more than HON with less volatility over the past 5 years: 6.7% a year at 21.4% volatility, against 1.5% a year at 22.8%.
- Looking beyond its popular alternatives, ADI (industrial automation theme) earned more for the risk it took than HON over the past 5 years, and its worst fall in 10 years was 33.6%, against 43.0% for HON.
- Across the whole market, 715 of the 3,633 stocks and funds worth at least $500 million earned more than HON with less volatility over the past 5 years, among them VTI, VOO and BRK-B.
How this works
The table below lists investments that beat HON 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 HON'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 HON 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 HON'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× HON's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than HON'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 HON?lower diversifies more | Expenseper year | |||
| HONHoneywell International Inc. · this page | +1.5% | 22.8% | 0.18 | −43.0% | +160% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.55 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against HON. 14 of 25 passed at least one test. | |||||||||
 ITWIllinois Tool Works Inc. · Industrial Machinery | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +6.7% | 21.4% | 0.41 | −37.9% | +208% | 0.57 | — | |
 MSFTMicrosoft Corporation · Software | Higher Sharpe, smaller worst declineHigher return in most periods | +12.5% | 28.2% | 0.56 | −37.1% | +946% | 0.34 | — | |
 RTXRTX Corporation · Aerospace & Defense | Higher return, similar volatilityHigher return in most periods | +18.6% | 24.3% | 0.83 | −52.0% | +317% | 0.35 | — | |
 AMEAMETEK, Inc. · Electronic Instruments | Higher return, similar volatilityHigher return in most periods | +14.4% | 22.1% | 0.72 | −42.7% | +481% | 0.51 | — | |
 CATCaterpillar Inc. · Industrial Machinery | Higher return in most periods | +31.1% | 31.9% | 1.01 | −43.4% | +936% | 0.41 | — | |
 PWRQuanta Services, Inc. · Engineering & Construction | Higher return in most periods | +39.3% | 37.2% | 1.08 | −45.5% | +2,045% | 0.33 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Industrial Conglomerates and the categories next to it (Industrial Machinery, Building Products, Alternative Asset Management), plus HON's specific themes. 25 of 72 passed at least one test. | |||||||||
 ADIAnalog Devices, Inc. · Semiconductors · Industrial Automation theme | Higher Sharpe, smaller worst declineHigher return in most periods | +19.5% | 34.1% | 0.69 | −33.6% | +652% | 0.35 | — | |
 DEDeere & Company · Industrial Machinery | Higher Sharpe, smaller worst declineHigher return in most periods | +14.4% | 29.9% | 0.60 | −37.9% | +755% | 0.43 | — | |
 TXNTexas Instruments Incorporated · Semiconductors · Industrial Automation theme | Higher Sharpe, smaller worst declineHigher return in most periods | +9.9% | 33.7% | 0.45 | −33.4% | +424% | 0.35 | — | |
FSSFederal Signal Corporation · Industrial Machinery | Higher Sharpe, smaller worst declineHigher return in most periods | +23.3% | 31.7% | 0.82 | −33.0% | +882% | 0.35 | — | |
FELEFranklin Electric Co., Inc. · Industrial Machinery | Higher Sharpe, smaller worst declineHigher return in most periods | +4.1% | 27.1% | 0.28 | −32.0% | +193% | 0.28 | — | |
SNASnap-on Incorporated · Industrial Machinery | Higher return, similar volatilityHigher return in most periods | +12.9% | 23.6% | 0.63 | −47.4% | +195% | 0.50 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,422 of 3,536 passed at least one test. | |||||||||
 JNJJohnson & Johnson · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.20 | — | |
 KOThe Coca-Cola Company · Food & Beverages | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.37 | — | |
 VTVVanguard Morningstar Value ETF · US Large-Cap Value | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.1% | 13.7% | 0.90 | −36.8% | +235% | 0.62 | 0.03% | |
 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% | 0.61 | 0.04% | |
 SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +9.7% | 14.3% | 0.72 | −33.4% | +252% | 0.62 | 0.06% | |
 RSGRepublic Services, Inc. · Environmental Services | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.26 | — | |
 WMTWalmart Inc. · Discount Retail | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.37 | — | |
FPEFirst Trust Preferred Securities and Income ETF · Preferred Securities | Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +2.0% | 6.7% | 0.34 | −33.3% | +51.3% | 0.33 | 0.83% | |
What these numbers mean for HON
- Annual return
- HON returned 1.5% 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 $10,700. 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
- HON's volatility over the past 5 years was 22.8%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, HON's return lands within 22.8% 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
- HON's Sharpe ratio over the past 5 years was 0.18, against 0.79 for the S&P 500, so HON 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
- HON's worst fall from a peak to a low over the past 10 years was 43.0%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 43.0% fall takes a 75.4% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, HON's monthly returns had a correlation of 0.55 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 HON instead: the lower it is, the more that option would diversify a HON holding. Guide: Correlation and diversification →
Show all 715 stocks and funds worth at least $500 million that earned more than HON 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 HON | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | JNJJohnson & Johnson · Pharmaceuticals | Whole market | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.20 | — |
| 2 | KOThe Coca-Cola Company · Food & Beverages | Whole market | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.37 | — |
| 3 | VTVVanguard Morningstar Value ETF · US Large-Cap Value | Whole market | +12.1% | 13.7% | 0.90 | −36.8% | +235% | 0.62 | 0.03% |
| 4 | VIGVanguard Dividend Appreciation ETF · US Dividend Equity | Whole market | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.61 | 0.04% |
| 5 | SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Whole market | +9.7% | 14.3% | 0.72 | −33.4% | +252% | 0.62 | 0.06% |
| 6 | RSGRepublic Services, Inc. · Environmental Services | Whole market | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.26 | — |
| 7 |  WMWaste Management, Inc. · Environmental Services | Whole market | +9.3% | 19.2% | 0.56 | −30.1% | +344% | 0.28 | — |
| 8 |  MRSHMarsh & McLennan Companies, Inc. · Insurance | Whole market | +4.4% | 20.9% | 0.31 | −35.8% | +245% | 0.40 | — |
| 9 |  WCNWaste Connections, Inc. · Environmental Services | Whole market | +6.1% | 20.0% | 0.40 | −31.6% | +270% | 0.18 | — |
| 10 | HDViShares Core High Dividend ETF · US Dividend Equity | Whole market | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.58 | 0.08% |
| 11 | USMViShares MSCI USA Min Vol Factor ETF · US Low-Volatility Equity | Whole market | +7.6% | 12.3% | 0.66 | −33.1% | +176% | 0.57 | 0.15% |
| 12 | SDYState Street SPDR S&P Dividend ETF · US Dividend Equity | Whole market | +7.6% | 14.0% | 0.59 | −36.7% | +157% | 0.61 | 0.35% |
| 13 |  VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Whole market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.54 | 0.03% |
| 14 | RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity | Whole market | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.63 | 0.39% |
| 15 |  VOOVanguard S&P 500 ETF · US Large-Cap Equity | Whole market | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.55 | 0.03% |
| 16 |  BRK-BBerkshire Hathaway Inc. · Insurance | Whole market | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.35 | — |
| 17 | FTCSFirst Trust Capital Strength ETF · US Quality Equity | Whole market | +6.2% | 13.2% | 0.52 | −31.9% | +188% | 0.65 | 0.53% |
| 18 | IWXiShares Russell Top 200 Value ETF · Broad Market | Whole market | +12.7% | 13.8% | 0.94 | −35.8% | +221% | 0.62 | 0.20% |
| 19 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.55 | 0.40% |
| 20 | FTLSFirst Trust Long/Short Equity ETF · Broad Market | Whole market | +10.2% | 10.4% | 0.99 | −20.6% | +158% | 0.51 | 0.95% |
| 21 | PTLCPacer Trendpilot US Large Cap ETF · Broad Market | Whole market | +9.5% | 11.8% | 0.83 | −26.6% | +188% | 0.33 | 0.60% |
| 22 |  VXUSVanguard Total International Stock ETF · International Equity | Whole market | +8.2% | 16.4% | 0.57 | −36.0% | +140% | 0.49 | 0.05% |
| 23 | PWVInvesco Large Cap Value ETF · Broad Market | Whole market | +13.5% | 14.2% | 0.97 | −37.6% | +223% | 0.58 | 0.55% |
| 24 |  NVSNovartis AG · Pharmaceuticals | Whole market | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.44 | — |
| 25 | DHSWisdomTree U.S. High Dividend Fund · Dividend & Income | Whole market | +12.0% | 13.9% | 0.89 | −37.4% | +156% | 0.57 | 0.38% |
| 26 |  VEAVanguard FTSE Developed Markets ETF · Developed International Equity | Whole market | +9.3% | 16.9% | 0.61 | −35.8% | +153% | 0.54 | 0.03% |
| 27 |  LINLinde plc · Chemicals | Whole market | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.42 | — |
| 28 | EQLALPS Equal Sector Weight ETF · Broad Market | Whole market | +13.5% | 14.5% | 0.94 | −34.2% | +387% | 0.62 | 0.19% |
| 29 | LGLVState Street SPDR US Large Cap Low Volatility Index ETF · Broad Market | Whole market | +7.6% | 13.0% | 0.63 | −36.6% | +199% | 0.57 | 0.12% |
| 30 | QDEFNorthern Trust Quality Dividend Defensive ETF · Dividend & Income | Whole market | +12.7% | 13.7% | 0.94 | −35.7% | +228% | 0.61 | 0.40% |
| 31 | OUSAALPS Funds O’Shares U.S. Quality Dividend ETF · Dividend & Income | Whole market | +9.4% | 13.4% | 0.74 | −33.1% | +186% | 0.62 | 0.48% |
| 32 |  VTVanguard Total World Stock ETF · Global Equity | Whole market | +10.3% | 16.2% | 0.69 | −34.2% | +223% | 0.55 | 0.06% |
| 33 |  VWOVanguard FTSE Emerging Markets ETF · Emerging Markets Equity | Whole market | +5.2% | 17.5% | 0.38 | −36.4% | +102% | 0.28 | 0.06% |
| 34 |  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% | 0.27 | — |
| 35 |  CMECME Group Inc. · Capital Markets | Whole market | +11.2% | 20.8% | 0.62 | −37.4% | +319% | 0.19 | — |
| 36 |  ULUnilever PLC · Household & Personal Products | Whole market | +5.5% | 21.5% | 0.36 | −30.1% | +89.8% | 0.31 | — |
| 37 | PJULInnovator U.S. Equity Power Buffer ETF · Broad Market | Whole market | +10.5% | 8.6% | 1.20 | −18.2% | — | 0.51 | 0.79% |
| 38 | CDCVictoryShares US EQ Income Enhanced Volatility Wtd ETF · Dividend & Income | Whole market | +6.0% | 12.5% | 0.53 | −21.4% | +168% | 0.50 | 0.38% |
| 39 |  IVWiShares S&P 500 Growth ETF · US Large-Cap Growth | Whole market | +13.1% | 21.5% | 0.68 | −32.7% | +413% | 0.43 | 0.18% |
| 40 | FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset | Whole market | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.52 | 0.85% |
| 41 |  DUKDuke Energy Corporation · Electric Utilities | Whole market | +7.5% | 18.0% | 0.50 | −37.4% | +132% | 0.34 | — |
| 42 | EBFEnnis, Inc. · Specialty Business Services | Whole market | +11.2% | 21.4% | 0.60 | −35.4% | +163% | 0.35 | — |
| 43 |  AEPAmerican Electric Power Company, Inc. · Electric Utilities | Whole market | +12.4% | 20.2% | 0.68 | −32.9% | +185% | 0.22 | — |
| 44 |  DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity | Whole market | +14.7% | 17.5% | 0.87 | −34.7% | — | 0.51 | 0.26% |
| 45 |  CLColgate-Palmolive Company · Household & Personal Products | Whole market | +7.2% | 19.2% | 0.46 | −29.0% | +68.8% | 0.51 | — |
| 46 |  JEPIJPMorgan Equity Premium Income ETF · Equity Income | Whole market | +7.5% | 11.0% | 0.71 | −13.7% | — | 0.60 | 0.35% |
| 47 |  EDConsolidated Edison, Inc. · Electric Utilities | Whole market | +12.0% | 18.8% | 0.70 | −30.9% | +114% | 0.18 | — |
| 48 |  XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity | Whole market | +8.4% | 15.3% | 0.60 | −28.4% | +202% | 0.36 | 0.08% |
| 49 | CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications | Whole market | +7.7% | 13.3% | 0.63 | −23.8% | +101% | 0.22 | — |
| 50 | SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity | Whole market | +18.7% | 20.8% | 0.93 | −30.9% | +499% | 0.44 | 0.13% |
| 51 | DFIVDimensional - International Value ETF · International Equity | Whole market | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.55 | 0.27% |
| 52 |  XELXcel Energy Inc. · Electric Utilities | Whole market | +6.5% | 20.9% | 0.41 | −34.4% | +156% | 0.28 | — |
| 53 | AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Whole market | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.65 | 0.15% |
| 54 | HYGHiShares Interest Rate Hedged High Yield Bond ETF · Bonds | Whole market | +6.6% | 7.1% | 0.94 | −23.9% | +74.5% | 0.51 | 1.12% |
| 55 | WECWEC Energy Group, Inc. · Electric Utilities | Whole market | +7.2% | 19.0% | 0.46 | −32.3% | +159% | 0.27 | — |
| 56 | DFATDimensional - US Targeted Value ETF · US Small-Cap Equity | Whole market | +9.6% | 21.0% | 0.54 | −26.1% | — | 0.53 | 0.33% |
| 57 | FTSFortis Inc. · Electric Utilities | Whole market | +8.4% | 16.4% | 0.58 | −34.3% | +154% | 0.34 | — |
| 58 | AVEMAvantis Emerging Markets Equity ETF · Emerging Markets Equity | Whole market | +9.3% | 19.5% | 0.56 | −36.0% | — | 0.33 | 0.33% |
| 59 | SPHQInvesco S&P 500 Quality ETF · US Quality Equity | Whole market | +12.0% | 16.7% | 0.76 | −31.6% | +300% | 0.55 | 0.20% |
| 60 | AEEAmeren Corporation · Electric Utilities | Whole market | +7.9% | 19.4% | 0.49 | −29.1% | +192% | 0.24 | — |
| 61 | USHYiShares Broad USD High Yield Corporate Bond ETF · High Yield Bonds | Whole market | +3.6% | 7.4% | 0.52 | −22.4% | — | 0.49 | 0.08% |
| 62 | EWJiShares MSCI Japan ETF · International Equity | Whole market | +9.2% | 18.8% | 0.57 | −33.1% | +132% | 0.48 | 0.49% |
| 63 | BUFRFT Vest Laddered Buffer ETF · Buffered Equity | Whole market | +9.9% | 10.5% | 0.96 | −13.7% | — | 0.55 | 0.10% |
| 64 |  RYRoyal Bank of Canada · Banks | Whole market | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.32 | — |
| 65 | DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity | Whole market | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.55 | 0.35% |
| 66 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.54 | 0.40% |
| 67 | JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity | Whole market | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.56 | 0.12% |
| 68 | DIVOAmplify CWP Enhanced Dividend Income ETF · Equity Income | Whole market | +11.1% | 11.9% | 0.95 | −30.0% | — | 0.67 | 0.56% |
| 69 | 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% |
| 70 |  SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds | Whole market | +3.8% | 0.3% | 13.25 | −0.3% | — | 0.04 | 0.09% |
| 71 | MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity | Whole market | +9.1% | 18.4% | 0.57 | −33.3% | +276% | 0.51 | 0.46% |
| 72 |  GLDSPDR Gold Shares · Gold | Whole market | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.13 | 0.40% |
| 73 | QYLDGlobal X - Nasdaq 100 Covered Call ETF · Equity Income | Whole market | +8.4% | 15.0% | 0.62 | −24.7% | +156% | 0.29 | 0.60% |
| 74 | BBEUJPMorgan BetaBuilders Europe ETF · International Equity | Whole market | +8.9% | 17.5% | 0.57 | −36.3% | — | 0.52 | 0.09% |
| 75 | DBMFiMGP DBi Managed Futures Strategy ETF · Alternatives | Whole market | +9.8% | 12.4% | 0.82 | −20.4% | — | -0.05 | 0.85% |
| 76 | USMCPrincipal U.S. Mega-Cap ETF · Broad Market | Whole market | +14.1% | 16.4% | 0.89 | −30.0% | — | 0.50 | 0.12% |
| 77 | GCOWPacer Global Cash Cows Dividend ETF · International | Whole market | +14.1% | 13.6% | 1.04 | −37.6% | +168% | 0.55 | 0.60% |
| 78 | TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity | Whole market | +16.2% | 21.3% | 0.81 | −32.0% | +388% | 0.47 | 0.50% |
| 79 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.48 | — |
| 80 | SPLVInvesco S&P 500 Low Volatility ETF · US Low-Volatility Equity | Whole market | +5.5% | 12.6% | 0.49 | −36.3% | +129% | 0.54 | 0.25% |
| 81 | XLBState Street Materials Select Sector SPDR ETF · Materials Equity | Whole market | +5.8% | 19.1% | 0.39 | −37.3% | +166% | 0.53 | 0.08% |
| 82 | IDMOInvesco S&P International Developed Momentum ETF · International Equity | Whole market | +13.3% | 18.2% | 0.78 | −31.3% | +229% | 0.57 | 0.25% |
| 83 | FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives | Whole market | +12.9% | 15.6% | 0.86 | −35.9% | +139% | 0.20 | 0.98% |
| 84 | XMHQInvesco S&P MidCap Quality ETF · US Mid-Cap Equity | Whole market | +9.7% | 20.5% | 0.56 | −36.9% | +240% | 0.55 | 0.30% |
| 85 | OMFLInvesco Russell 1000 Dynamic Multifactor ETF · US Multifactor Equity | Whole market | +9.0% | 16.4% | 0.61 | −33.2% | — | 0.58 | 0.29% |
| 86 | SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology | Whole market | +15.0% | 19.5% | 0.82 | −30.8% | — | 0.47 | 0.45% |
| 87 | DEMWisdomTree Emerging Markets High Dividend Fund · International Equity | Whole market | +9.6% | 15.5% | 0.67 | −37.8% | +133% | 0.39 | 0.63% |
| 88 | DIVIFranklin International Core Dividend Tilt Index ETF · International | Whole market | +13.4% | 15.5% | 0.89 | −27.7% | +184% | 0.53 | 0.09% |
| 89 | AORiShares Core 60/40 Balanced Allocation ETF · Multi-Asset | Whole market | +6.4% | 10.7% | 0.64 | −23.0% | +118% | 0.52 | 0.20% |
| 90 | XYLDGlobal X - S&P 500 Covered Call ETF · International | Whole market | +7.4% | 11.2% | 0.70 | −33.4% | +128% | 0.48 | 0.60% |
| 91 | HDEFXtrackers MSCI EAFE High Dividend Yield Equity ETF · International | Whole market | +12.8% | 14.2% | 0.92 | −36.4% | +134% | 0.49 | 0.09% |
| 92 | ACWViShares MSCI Global Min Vol Factor ETF · International | Whole market | +6.3% | 10.3% | 0.65 | −28.8% | +116% | 0.57 | 0.20% |
| 93 | DIVBiShares Core Dividend ETF · Dividend & Income | Whole market | +13.9% | 15.4% | 0.93 | −36.9% | — | 0.61 | 0.05% |
| 94 | ACIOAptus Collared Income Opportunity ETF · Dividend & Income | Whole market | +9.3% | 11.1% | 0.86 | −14.2% | — | 0.52 | 0.79% |
| 95 | FTHIFirst Trust BuyWrite Income ETF · Dividend & Income | Whole market | +10.3% | 13.3% | 0.81 | −32.7% | +126% | 0.54 | 0.75% |
| 96 | ITWIllinois Tool Works Inc. · Industrial Machinery | Popular alternative | +6.7% | 21.4% | 0.41 | −37.9% | +208% | 0.57 | — |
| 97 | FLQLFranklin U.S. Large Cap Multifactor Index ETF · Broad Market | Whole market | +13.8% | 16.3% | 0.88 | −33.6% | — | 0.55 | 0.15% |
| 98 | JMOMJPMorgan U.S. Momentum Factor ETF · Broad Market | Whole market | +12.9% | 19.1% | 0.73 | −34.3% | — | 0.50 | 0.12% |
| 99 | FHLCFidelity MSCI Health Care Index ETF · Healthcare | Whole market | +7.3% | 15.4% | 0.53 | −28.8% | +199% | 0.36 | 0.08% |
| 100 | HFXINYLI FTSE International Equity Currency Neutral ETF · International | Whole market | +11.4% | 15.3% | 0.79 | −32.4% | +180% | 0.55 | 0.19% |
HON against its popular alternatives
The investments people most often weigh against HON, compared period by period and year by year.
How do HON'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 HON, which divides the map into what did better or worse on each measure.
- Only AME and ITW were both more rewarding and calmer than HON over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, HON returned 1.5% a year, less than the S&P 500's 12.7%, with higher volatility (22.8% against 17.1%).
Green points earned more than HON 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 |
|---|---|---|
| PWR Quanta Services, Inc. | +39.3% | 37.2% |
| GE GE Aerospace | +36.0% | 31.0% |
| CAT Caterpillar Inc. | +31.1% | 31.9% |
| CW Curtiss-Wright Corporation | +30.8% | 28.7% |
| PH Parker-Hannifin Corporation | +27.4% | 28.8% |
| TT Trane Technologies plc | +22.7% | 27.7% |
| ETN Eaton Corporation plc | +20.4% | 32.1% |
| RTX RTX Corporation | +18.6% | 24.3% |
| JCI Johnson Controls International plc | +17.4% | 29.1% |
| HEI HEICO Corporation | +17.3% | 27.8% |
| TDG TransDigm Group Incorporated | +16.4% | 28.0% |
| AME AMETEK, Inc. | +14.4% | 22.1% |
| EMR Emerson Electric Co. | +12.7% | 27.7% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| MSFT Microsoft Corporation | +12.5% | 28.2% |
| IR Ingersoll Rand Inc. | +8.1% | 30.4% |
| ROK Rockwell Automation, Inc. | +7.8% | 32.3% |
| ITW Illinois Tool Works Inc. | +6.7% | 21.4% |
| MMM 3M Company | +6.5% | 28.8% |
| DOV Dover Corporation | +4.4% | 25.1% |
| LHX L3Harris Technologies, Inc. | +2.5% | 24.9% |
| CARR Carrier Global Corporation | +2.2% | 32.3% |
| HON This pageHoneywell International Inc. | +1.5% | 22.8% |
| FTV Fortive Corporation | +1.2% | 25.5% |
| XYL Xylem Inc. | −2.5% | 26.5% |
| BA The Boeing Company | −2.5% | 36.8% |
| ADSK Autodesk, Inc. | −3.8% | 36.4% |
Has HON consistently beaten its popular alternatives?
This section compares HON 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 HON helps separate lasting outperformance from a single strong stretch.
- 14 of the 25 popular alternatives, led by TT, EMR and MSFT, outperformed HON in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- TT, EMR and MSFT outperformed HON in every long-term period and in all but one short-term period, the most consistent record in the group.
- TT, AME and MSFT earned more for the risk they took than HON (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
A green cell means the alternative earned more than HON 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 | ||
| HON Honeywell International Inc. (this page) | — | +3.3% | −5.4% | −10.7% | +5.2% | +6.8% | +27.0% | +7.5% | +160% | 22.8% | 0.18 | −43.0% | — | $68B | — |
| TT QualifiedTrane Technologies plc | 5/5 short3/3 longAll-weather | +6.5% | −1.2% | −2.9% | +16.8% | +11.3% | +154% | +178% | +955% | 27.7% | 0.88 | −40.5% | — | $102B | — |
| EMR QualifiedEmerson Electric Co. | 5/5 short3/3 longAll-weather | +5.8% | +17.9% | +10.1% | +19.5% | +25.0% | +84.9% | +82.1% | +309% | 27.7% | 0.57 | −50.8% | — | $90B | — |
| MSFT QualifiedMicrosoft Corporation | 4/5 short3/3 longAll-weather | +6.0% | +32.5% | +27.7% | +13.2% | +3.8% | +66.6% | +80.3% | +946% | 28.2% | 0.56 | −37.1% | — | $3.9T | — |
| PH QualifiedParker-Hannifin Corporation | 4/5 short3/3 longAll-weather | −1.4% | −0.4% | −4.8% | +6.3% | +28.7% | +161% | +235% | +789% | 28.8% | 0.99 | −54.7% | — | $119B | — |
| AME QualifiedAMETEK, Inc. | 4/5 short3/3 longAll-weather | +2.5% | +5.3% | +4.8% | +18.8% | +32.8% | +78.1% | +96.1% | +481% | 22.1% | 0.72 | −42.7% | — | $57B | — |
| JCI QualifiedJohnson Controls International plc | 4/5 short3/3 longAll-weather | +1.9% | +6.4% | +5.5% | +22.0% | +35.4% | +220% | +123% | +426% | 29.1% | 0.70 | −46.4% | — | $90B | — |
| ITW QualifiedIllinois Tool Works Inc. | 4/5 short3/3 longAll-weather | +3.5% | +1.9% | +2.1% | +12.3% | +11.7% | +32.1% | +38.4% | +208% | 21.4% | 0.41 | −37.9% | — | $78B | — |
| PWR QualifiedQuanta Services, Inc. | 3/5 short3/3 long | −7.2% | −5.8% | −1.5% | +35.6% | +35.3% | +263% | +425% | +2,045% | 37.2% | 1.08 | −45.5% | — | $90B | — |
| CAT QualifiedCaterpillar Inc. | 3/5 short3/3 long | −11.2% | −15.9% | −8.8% | +22.2% | +37.7% | +203% | +288% | +936% | 31.9% | 1.01 | −43.4% | — | $333B | — |
| ETN QualifiedEaton Corporation plc | 3/5 short3/3 long | −12.3% | −4.6% | −5.8% | +17.7% | +2.3% | +104% | +153% | +657% | 32.1% | 0.74 | −44.5% | — | $148B | — |
| ROK QualifiedRockwell Automation, Inc. | 3/5 short3/3 long | +0.7% | −6.4% | +4.1% | +8.4% | +22.9% | +68.9% | +45.6% | +335% | 32.3% | 0.40 | −45.1% | — | $48B | — |
| RTX QualifiedRTX Corporation | 3/5 short3/3 long | −0.5% | −0.2% | −0.5% | +4.4% | +22.1% | +183% | +135% | +317% | 24.3% | 0.83 | −52.0% | — | $261B | — |
| MMM Qualified3M Company | 5/5 short2/3 long | +3.9% | +8.2% | +14.3% | +7.4% | +12.8% | +159% | +37.2% | +76.0% | 28.8% | 0.36 | −57.4% | — | $88B | — |
| IR QualifiedIngersoll Rand Inc. | 3/5 short2/3 long | +8.7% | −2.0% | −8.6% | −1.4% | +0.3% | +30.4% | +47.6% | — | 30.4% | 0.41 | −49.1% | — | $30B | — |
| DOV Industrial - MachineryDover Corporation | 2/5 short3/3 long | +5.9% | −5.7% | −10.7% | +1.5% | +17.9% | +51.3% | +24.2% | +320% | 25.1% | 0.30 | −45.2% | — | $27B | — |
| HEI Aerospace & DefenseHEICO Corporation | 1/5 short3/3 long | +0.7% | −10.3% | +4.5% | −7.3% | −2.4% | +93.4% | +122% | +809% | 27.8% | 0.71 | −57.7% | — | $43B | — |
| TDG Aerospace & DefenseTransDigm Group Incorporated | 0/5 short3/3 long | +3.0% | −5.1% | −10.3% | −15.9% | −12.2% | +62.5% | +114% | +543% | 28.0% | 0.69 | −62.6% | — | $63B | — |
| CW Aerospace & DefenseCurtiss-Wright Corporation | 0/5 short3/3 long | −12.8% | −30.1% | −32.1% | −13.4% | −11.6% | +148% | +283% | +512% | 28.7% | 1.08 | −48.7% | — | $18B | — |
| LHX Aerospace & DefenseL3Harris Technologies, Inc. | 0/5 short3/3 long | +0.7% | −10.9% | −28.0% | −17.3% | −13.0% | +49.6% | +13.0% | +229% | 24.9% | 0.22 | −38.2% | — | $46B | — |
| GE Aerospace & DefenseGE Aerospace | 1/5 short2/3 long | −5.9% | −12.0% | −1.0% | −6.1% | −0.4% | +261% | +366% | +139% | 31.0% | 1.15 | −80.9% | — | $311B | — |
| ADSK Software - ApplicationAutodesk, Inc. | 3/5 short1/3 long | +12.2% | +12.8% | +0.1% | −14.4% | −20.3% | +21.2% | −17.8% | +245% | 36.4% | 0.07 | −52.0% | — | $51B | — |
| CARR Industrial - MachineryCarrier Global Corporation | 2/5 short1/3 long | +2.8% | −15.8% | −8.2% | +6.2% | −1.1% | +21.2% | +11.6% | — | 32.3% | 0.23 | −40.8% | — | $46B | — |
| FTV Hardware, Equipment & PartsFortive Corporation | 4/5 short0/3 long | +5.9% | −4.2% | −4.1% | +5.7% | +18.9% | +11.7% | +6.3% | +98.0% | 25.5% | 0.18 | −52.6% | — | $18B | — |
| XYL Industrial - MachineryXylem Inc. | 0/5 short0/3 long | −2.1% | −12.6% | −12.1% | −22.5% | −27.4% | +18.7% | −11.7% | +143% | 26.5% | 0.04 | −46.7% | — | $25B | — |
| BA Aerospace & DefenseThe Boeing Company | 0/5 short0/3 long | −5.3% | −9.1% | −15.4% | −16.4% | −12.2% | +5.8% | −11.9% | +52.4% | 36.8% | 0.12 | −77.9% | — | $151B | — |
How did HON do year by year?
This table shows each investment's total return in every full calendar year since 1997, along with where HON ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with HON and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- HON finished ahead of the S&P 500 in 15 of its 29 full calendar years, and behind it in each of the last three.
- Ranked against its popular alternatives each year, HON finished in the top quarter in four of 29 years and in the bottom quarter in nine. In 2025, it ranked 24 of 26.
- Among its popular alternatives, TDG came out ahead of HON most often, in 15 of the 19 years both traded.
Newest year first. Green marks a year in which the fund came out ahead of HON; gray means the two finished within a fraction of a point. The rank row places HON among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of HON | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HON This pageHoneywell International Inc. | — | −6.3% | +10.2% | +0.1% | +5.0% | −0.2% | +23.1% | +36.9% | −7.5% | +35.2% | +14.3% | +4.9% | +10.6% | +45.8% | +18.5% | +3.8% | +37.8% | +21.9% | −45.9% | +37.5% | +23.1% | +6.6% | +7.3% | +41.6% | −28.0% | −27.7% | −17.2% | +31.0% | +15.1% | +16.7% |
| Rank among alternatives | Top quarter in 4 of 29 | 24 of 26 | 19 of 26 | 23 of 26 | 7 of 26 | 24 of 26 | 11 of 25 | 18 of 25 | 11 of 25 | 15 of 24 | 20 of 23 | 6 of 23 | 9 of 23 | 9 of 23 | 10 of 23 | 9 of 22 | 11 of 22 | 17 of 22 | 16 of 22 | 7 of 22 | 5 of 21 | 11 of 21 | 19 of 21 | 11 of 21 | 17 of 21 | 19 of 21 | 17 of 21 | 6 of 21 | 8 of 20 | 17 of 20 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 14 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% |
| TT Trane Technologies plc | 16 of 29 | +6.4% | +53.0% | +47.4% | −15.3% | +41.0% | +43.4% | +48.3% | +4.4% | +21.3% | +38.5% | −11.1% | +4.6% | +29.9% | +59.3% | −34.7% | +32.6% | +110% | −62.0% | +20.2% | −1.7% | +1.7% | +19.6% | +59.7% | +4.3% | +1.2% | −23.0% | +17.7% | +17.9% | +38.1% |
| EMR Emerson Electric Co. | 13 of 29 | +8.9% | +29.7% | +3.8% | +5.7% | +18.2% | +8.6% | +31.6% | −11.9% | +29.1% | +21.0% | −19.7% | −9.6% | +36.1% | +17.3% | −16.3% | +37.8% | +20.7% | −33.6% | +31.5% | +20.7% | +9.2% | +11.0% | +31.4% | −8.3% | −25.7% | +40.8% | −3.0% | +9.2% | +19.1% |
| MSFT Microsoft Corporation | 19 of 29 | +15.6% | +12.9% | +58.2% | −28.0% | +52.5% | +42.5% | +57.6% | +20.8% | +40.8% | +15.1% | +22.7% | +27.5% | +44.3% | +5.8% | −4.5% | −6.5% | +60.5% | −44.4% | +20.8% | +15.8% | −1.0% | +9.2% | +6.2% | −22.0% | +52.8% | −62.9% | +68.4% | +115% | +56.5% |
| PH Parker-Hannifin Corporation | 19 of 29 | +39.5% | +39.6% | +60.8% | −6.9% | +18.3% | +34.8% | +40.7% | −24.0% | +44.3% | +47.6% | −23.1% | +2.0% | +53.9% | +13.7% | −10.1% | +62.7% | +29.4% | −42.5% | +48.6% | +18.0% | −11.8% | +28.9% | +31.2% | +2.1% | +5.7% | −12.5% | +59.3% | −27.5% | +80.2% |
| AME AMETEK, Inc. | 18 of 29 | +14.7% | +10.0% | +18.8% | −4.3% | +22.3% | +22.2% | +48.3% | −5.9% | +50.0% | −8.6% | +2.5% | +0.5% | +41.0% | +34.6% | +7.9% | +54.8% | +27.6% | −35.1% | +47.9% | +13.0% | +20.0% | +48.9% | +26.4% | +21.4% | +23.7% | +37.7% | −13.6% | −16.8% | +22.4% |
| JCI Johnson Controls International plc | 17 of 29 | +54.0% | +39.8% | −7.6% | −19.3% | +77.4% | +17.7% | +40.8% | −19.8% | −6.3% | +64.3% | −23.3% | +11.4% | +46.9% | +34.3% | +19.3% | +22.8% | +76.7% | −42.2% | +61.6% | +16.3% | −11.9% | +42.7% | +75.4% | −66.9% | +9.3% | +46.9% | +7.9% | +76.2% | +89.2% |
| ITW Illinois Tool Works Inc. | 15 of 29 | −0.4% | −1.0% | +21.6% | −8.5% | +23.6% | +16.4% | +45.6% | −22.1% | +38.9% | +35.0% | +0.1% | +15.0% | +41.4% | +33.6% | −10.0% | +14.4% | +41.4% | −32.7% | +18.0% | +7.1% | −3.7% | +11.7% | +31.1% | −2.9% | +15.2% | −10.6% | +17.6% | −2.6% | +51.9% |
| PWR Quanta Services, Inc. | 15 of 27 | +33.7% | +46.6% | +51.7% | +24.6% | +59.5% | +77.8% | +35.8% | −22.9% | +12.2% | +72.1% | −28.7% | −10.1% | +15.7% | +26.7% | +8.1% | −4.4% | +5.3% | −24.6% | +33.5% | +49.3% | +64.7% | +9.5% | +109% | −77.3% | −52.1% | +71.0% | +28.0% | — | — |
| CAT Caterpillar Inc. | 18 of 29 | +60.3% | +24.7% | +25.9% | +18.6% | +16.0% | +27.0% | +19.5% | −17.6% | +75.0% | +42.1% | −23.0% | +3.5% | +3.4% | +1.6% | −1.5% | +68.5% | +33.2% | −36.8% | +20.5% | +7.8% | +20.7% | +19.7% | +86.1% | −9.8% | +13.7% | +4.1% | +4.7% | −3.0% | +31.2% |
| ETN Eaton Corporation plc | 15 of 29 | −2.8% | +39.5% | +56.2% | −7.2% | +46.7% | +31.0% | +42.8% | −10.0% | +21.5% | +33.8% | −20.7% | −8.2% | +44.2% | +28.6% | −11.8% | +64.0% | +33.3% | −47.1% | +31.6% | +14.4% | −5.4% | +36.5% | +41.1% | +7.6% | +40.8% | +6.0% | +5.3% | −19.0% | +30.7% |
| ROK Rockwell Automation, Inc. | 17 of 29 | +38.4% | −6.2% | +22.6% | −24.8% | +41.2% | +26.2% | +37.9% | −21.8% | +48.9% | +34.5% | −5.5% | −3.9% | +43.8% | +17.2% | +4.5% | +56.1% | +50.9% | −51.9% | +14.9% | +4.7% | +21.3% | +41.8% | +76.5% | +20.0% | −11.3% | +5.5% | +168% | −1.9% | +37.1% |
| RTX RTX Corporation | 15 of 29 | +61.4% | +40.8% | −14.4% | +20.0% | +23.3% | −16.7% | +44.1% | −14.5% | +19.3% | +17.3% | −14.3% | +3.4% | +42.0% | +15.3% | −4.8% | +16.4% | +33.4% | −28.4% | +24.6% | +13.8% | +10.2% | +10.9% | +55.5% | −2.6% | −16.8% | +22.7% | +21.1% | +51.8% | +11.7% |
| MMM 3M Company | 12 of 29 | +26.4% | +46.6% | −2.2% | −29.1% | +5.5% | +3.5% | −3.7% | −16.5% | +35.5% | +22.4% | −5.4% | +20.5% | +55.1% | +17.3% | −2.4% | +7.6% | +49.5% | −29.4% | +11.2% | +3.4% | −3.1% | −1.4% | +40.7% | +6.4% | +0.2% | +26.2% | +41.0% | −11.0% | +1.1% |
| IR Ingersoll Rand Inc. | 5 of 8 | −12.3% | +17.1% | +48.2% | −15.4% | +35.9% | +27.0% | +92.8% | −35.3% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| DOV Dover Corporation | 15 of 29 | +5.2% | +23.4% | +15.2% | −24.3% | +45.7% | +11.5% | +65.8% | −11.0% | +37.7% | +25.4% | −12.4% | −8.8% | +49.5% | +15.7% | +1.4% | +43.7% | +30.3% | −26.9% | −4.4% | +22.9% | −1.8% | +7.2% | +38.7% | −20.1% | −7.3% | −9.7% | +25.4% | +2.5% | +44.6% |
| HEI HEICO Corporation | 21 of 29 | +36.2% | +33.1% | +16.6% | +6.7% | +9.1% | +16.2% | +47.5% | +28.6% | +53.0% | +42.3% | −9.7% | +4.5% | +63.2% | +1.1% | +43.6% | +44.3% | +14.5% | −28.6% | +40.7% | +50.4% | +14.9% | +38.1% | +73.2% | −29.5% | +6.7% | −28.3% | −30.8% | +66.7% | +78.9% |
| TDG TransDigm Group Incorporated | 15 of 19 | +12.2% | +32.3% | +66.6% | +1.8% | +2.8% | +10.5% | +84.4% | +23.8% | +19.8% | +19.1% | +16.4% | +39.9% | +36.8% | +56.1% | +32.9% | +51.6% | +67.3% | −25.7% | +70.4% | — | — | — | — | — | — | — | — | — | — |
| CW Curtiss-Wright Corporation | 17 of 29 | +55.7% | +59.7% | +34.0% | +21.0% | +19.9% | −16.8% | +38.7% | −15.8% | +24.5% | +44.4% | −2.2% | +14.3% | +91.4% | −6.0% | +7.5% | +7.1% | −5.2% | −32.9% | +36.2% | +36.9% | −4.3% | +28.4% | +42.3% | +34.9% | +3.9% | +27.8% | −1.8% | +6.3% | +46.4% |
| LHX L3Harris Technologies, Inc. | 18 of 29 | +42.3% | +1.9% | +3.7% | −0.5% | +15.0% | −2.8% | +49.2% | −3.4% | +40.8% | +20.7% | +24.0% | +5.5% | +46.7% | +40.3% | −18.4% | −2.7% | +31.5% | −38.4% | +38.0% | +7.5% | +40.3% | +64.0% | +46.1% | −13.0% | +0.2% | +15.4% | +4.6% | −18.1% | +36.6% |
| GE GE Aerospace | 13 of 29 | +85.7% | +64.9% | +95.8% | −10.9% | +9.7% | −2.7% | +54.0% | −55.4% | −42.9% | +4.6% | +27.5% | −6.7% | +37.9% | +21.3% | +1.3% | +24.3% | −1.9% | −53.9% | +2.7% | +9.3% | −1.4% | +20.7% | +30.7% | −37.7% | −15.1% | −6.0% | +53.6% | +41.0% | +51.0% |
| ADSK Autodesk, Inc. | 18 of 29 | +0.1% | +21.4% | +30.3% | −33.5% | −7.9% | +66.4% | +42.6% | +22.7% | +41.6% | +21.5% | +1.5% | +19.4% | +42.4% | +16.6% | −20.6% | +50.3% | +29.3% | −60.5% | +23.0% | −5.8% | +13.2% | +210% | +73.0% | −22.5% | +39.5% | −19.5% | −20.3% | +16.3% | +33.0% |
| CARR Carrier Global Corporation | 3 of 5 | −21.8% | +20.3% | +41.5% | −22.7% | +45.3% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| FTV Fortive Corporation | 4 of 9 | −1.9% | +2.3% | +15.1% | −15.4% | +8.1% | +11.2% | +13.3% | −6.1% | +35.4% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| XYL Xylem Inc. | 8 of 14 | +18.8% | +2.6% | +4.8% | −6.6% | +18.9% | +30.9% | +19.6% | −1.0% | +39.5% | +37.6% | −2.6% | +11.6% | +29.8% | +7.1% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| BA The Boeing Company | 13 of 29 | +22.7% | −32.1% | +36.8% | −5.4% | −5.9% | −33.9% | +3.3% | +11.5% | +94.7% | +11.3% | +14.1% | −2.5% | +84.7% | +5.2% | +15.2% | +23.6% | +31.8% | −50.1% | −0.1% | +28.4% | +37.9% | +24.9% | +30.4% | −13.4% | −40.4% | +61.2% | +28.7% | −32.5% | −7.1% |
Risk and diversification
How HON 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 HON's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents HON'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 four of HON's worst declines, the S&P 500 held up better over the same dates.
- The slowest recovery came after HON fell 70.8% from June 1999 to October 2002; it did not regain that peak until October 2007, five years later.
Green means HON fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | HON fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| Dot-com bust | −70.8% | −39.6% | Jun 1999 | Oct 2002 | 3.3 years | Oct 2007 | 5 years |
| 2008 financial crisis | −62.2% | −51.3% | May 2008 | Mar 2009 | 10 months | Mar 2011 | 2 years |
| No named crash | −45.9% | — | Mar 1987 | Dec 1987 | 9 months | Nov 1991 | 3.9 years |
| Covid crash | −43.0% | −32.4% | Jan 2020 | Mar 2020 | 2 months | Nov 2020 | 8 months |
| 2011 euro debt crisis | −31.8% | −16.0% | Apr 2011 | Aug 2011 | 4 months | Mar 2012 | 7 months |
How did HON do in stock market crashes?
This section measures how far HON, 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.
- None of its popular alternatives fell less than HON in most of the crashes they both traded through.
- HON 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 HON fell 65.8% 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 HON.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HON This pageHoneywell International Inc. | — | −1.4% | −22.7% | −42.2% | −22.1% | −6.8% | −14.4% | −25.3% | −1.8% | −62.2% | −65.8% |
| 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% |
| TT Trane Technologies plc | 3 of 10 | −3.3% | −37.5% | −39.2% | −17.9% | −8.0% | −20.6% | −34.2% | −2.6% | −77.5% | −44.7% |
| EMR Emerson Electric Co. | 4 of 10 | −4.3% | −25.4% | −47.2% | −28.8% | −5.9% | −15.9% | −25.8% | 0.0% | −56.1% | −43.6% |
| MSFT Microsoft Corporation | 5 of 10 | −2.0% | −31.0% | −27.7% | −18.2% | −7.4% | −14.4% | −14.1% | −2.6% | −57.9% | −62.9% |
| PH Parker-Hannifin Corporation | 1 of 10 | −8.4% | −27.3% | −54.7% | −25.6% | −8.1% | −23.7% | −30.4% | −3.5% | −66.9% | −36.5% |
| AME AMETEK, Inc. | 3 of 10 | −3.7% | −26.4% | −42.0% | −22.1% | −6.7% | −21.9% | −30.3% | −1.2% | −53.3% | −34.9% |
| JCI Johnson Controls International plc | 1 of 10 | −6.9% | −41.6% | −44.2% | −22.2% | −8.2% | −20.8% | −19.8% | −1.9% | −66.2% | −85.6% |
| ITW Illinois Tool Works Inc. | 5 of 10 | −2.9% | −28.0% | −37.9% | −19.3% | −8.4% | −14.0% | −29.0% | −1.1% | −54.9% | −30.8% |
| PWR Quanta Services, Inc. | 3 of 10 | −4.0% | −21.7% | −40.8% | −22.1% | −7.1% | −35.4% | −21.6% | −1.7% | −69.6% | −97.1% |
| CAT Caterpillar Inc. | 2 of 10 | −9.7% | −30.1% | −33.1% | −28.5% | −7.3% | −26.0% | −33.2% | −2.2% | −73.3% | −42.5% |
| ETN Eaton Corporation plc | 1 of 10 | −4.5% | −26.3% | −44.5% | −26.0% | −6.7% | −22.3% | −34.6% | −1.4% | −68.5% | −31.6% |
| ROK Rockwell Automation, Inc. | 1 of 10 | −5.4% | −43.8% | −42.4% | −27.5% | −7.9% | −23.6% | −37.5% | −1.4% | −74.7% | −42.0% |
| RTX RTX Corporation | 4 of 10 | −1.5% | −21.9% | −50.5% | −27.7% | −7.1% | −15.4% | −23.1% | −2.5% | −52.0% | −52.1% |
| MMM 3M Company | 5 of 10 | −3.4% | −38.4% | −26.0% | −16.8% | −9.1% | −13.8% | −25.0% | −1.9% | −53.9% | −30.3% |
| IR Ingersoll Rand Inc. | 0 of 5 | −8.0% | −34.3% | −49.1% | −34.4% | −7.6% | — | — | — | — | — |
| DOV Dover Corporation | 2 of 10 | −5.9% | −35.6% | −45.0% | −25.1% | −6.8% | −20.9% | −32.8% | −1.5% | −58.2% | −54.1% |
| HEI HEICO Corporation | 3 of 10 | −3.7% | −18.8% | −52.4% | −22.6% | −7.3% | −14.6% | −27.3% | −3.0% | −61.4% | −53.9% |
| TDG TransDigm Group Incorporated | 3 of 9 | −8.1% | −24.9% | −61.7% | −16.3% | −8.1% | −23.4% | −20.6% | −3.2% | −51.7% | — |
| CW Curtiss-Wright Corporation | 5 of 10 | −4.4% | −20.5% | −47.8% | −29.6% | −9.6% | −12.9% | −19.3% | −1.7% | −59.2% | −33.7% |
| LHX L3Harris Technologies, Inc. | 5 of 10 | −2.6% | −22.2% | −33.2% | −26.3% | −4.9% | −19.9% | −22.8% | −2.9% | −56.1% | −45.2% |
| GE GE Aerospace | 3 of 10 | −2.8% | −40.7% | −51.5% | −50.7% | −7.6% | −12.3% | −22.1% | −2.5% | −82.7% | −61.9% |
| ADSK Autodesk, Inc. | 2 of 10 | −5.1% | −40.9% | −35.5% | −24.2% | −6.9% | −34.7% | −36.9% | −1.6% | −76.9% | −63.6% |
| CARR Carrier Global Corporation | 0 of 2 | −5.6% | −35.8% | — | — | — | — | — | — | — | — |
| FTV Fortive Corporation | 0 of 5 | −4.7% | −27.4% | −45.3% | −26.8% | −8.2% | — | — | — | — | — |
| XYL Xylem Inc. | 2 of 6 | −3.8% | −37.9% | −35.9% | −24.2% | −7.2% | −12.9% | — | — | — | — |
| BA The Boeing Company | 3 of 10 | −2.9% | −48.7% | −71.9% | −24.7% | −5.7% | −26.8% | −20.5% | −1.8% | −70.0% | −57.1% |
How closely does HON 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 HON with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- 18 of the 23 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than HON's 0.77, led by PWR, TT and ETN.
- PWR took just 61% of the S&P 500's losses, against 118% for HON, while still keeping 141% of its gains.
- Over the past 10 years, HON captured 90% of the S&P 500's gains in rising months and 118% 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 HON's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| HON This pageHoneywell International Inc. | 90% | 118% | 0.77 | 1.00 |
| PWR Quanta Services, Inc. | 141% | 61% | 2.31 | 1.22 |
| TT Trane Technologies plc | 115% | 69% | 1.66 | 1.10 |
| ETN Eaton Corporation plc | 114% | 80% | 1.43 | 1.16 |
| MSFT Microsoft Corporation | 127% | 91% | 1.39 | 0.96 |
| HEI HEICO Corporation | 118% | 85% | 1.39 | 1.15 |
| CW Curtiss-Wright Corporation | 103% | 77% | 1.33 | 1.20 |
| CAT Caterpillar Inc. | 148% | 122% | 1.21 | 1.27 |
| TDG TransDigm Group Incorporated | 112% | 97% | 1.15 | 1.25 |
| JCI Johnson Controls International plc | 102% | 90% | 1.13 | 1.17 |
| PH Parker-Hannifin Corporation | 141% | 126% | 1.11 | 1.43 |
| LHX L3Harris Technologies, Inc. | 72% | 65% | 1.11 | 0.70 |
| AME AMETEK, Inc. | 111% | 101% | 1.10 | 1.15 |
| RTX RTX Corporation | 94% | 91% | 1.02 | 0.89 |
| ROK Rockwell Automation, Inc. | 122% | 138% | 0.88 | 1.46 |
| DOV Dover Corporation | 114% | 133% | 0.85 | 1.27 |
| EMR Emerson Electric Co. | 124% | 153% | 0.81 | 1.39 |
| ITW Illinois Tool Works Inc. | 94% | 116% | 0.81 | 1.04 |
| GE GE Aerospace | 85% | 106% | 0.80 | 1.21 |
| ADSK Autodesk, Inc. | 130% | 179% | 0.73 | 1.34 |
| XYL Xylem Inc. | 90% | 123% | 0.73 | 1.03 |
| FTV Fortive Corporation | 88% | 133% | 0.66 | 1.10 |
| MMM 3M Company | 86% | 136% | 0.64 | 0.99 |
| BA The Boeing Company | 93% | 152% | 0.61 | 1.42 |
What diversifies HON?
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 HON's. Because such investments tend not to fall at the same time, pairing HON with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in HON into GLD would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+2.3% for HON alone, +5.9% for the mix).
- Among large ETFs, DXJ, SMH and GLD have moved largely independently of HON over the past 5 years, with correlations of 0.42 or lower, and each still earned a positive 5-year return.
- FIX made money in four of the seven calendar years in which HON 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 HON lost money. The last two columns show a portfolio that is 80% HON and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2025 | 2021 | 2018 | 2008 | 2002 | 2001 | 2000 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HON Honeywell International Inc. (this page) | 1.00 | +7.5% | 0.18 | −6.3% | −0.2% | −7.5% | −45.9% | −28.0% | −27.7% | −17.2% | 23.6% | +2.3% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.42 | +225% | 1.34 | +32.8% | +18.0% | −19.8% | −20.8% | — | — | — | 20.1% | +7.2% |
| SMH TechnologyVanEck Semiconductor ETF | 0.26 | +323% | 0.97 | +49.2% | +42.1% | −9.1% | −44.7% | −47.0% | −14.6% | — | 21.7% | +9.7% |
| GLD CommoditiesSPDR Gold Shares | 0.13 | +126% | 0.96 | +63.7% | −4.2% | −1.9% | +4.9% | — | — | — | 19.6% | +5.9% |
| SPMO Broad MarketInvesco S&P 500 Momentum ETF | 0.44 | +136% | 0.93 | +26.6% | +22.7% | −0.9% | — | — | — | — | 21.0% | +6.4% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.47 | +177% | 0.93 | +7.9% | +53.3% | −18.2% | −39.0% | −14.8% | −18.2% | +24.4% | 21.8% | +6.7% |
| EWT TechnologyiShares MSCI Taiwan ETF | 0.23 | +153% | 0.89 | +28.4% | +28.9% | −9.9% | −45.3% | −24.4% | +2.1% | — | 20.7% | +6.7% |
| EUFN InternationaliShares MSCI Europe Financials ETF | 0.40 | +133% | 0.89 | +65.8% | +19.1% | −23.1% | — | — | — | — | 20.8% | +6.2% |
| AMLP EnergyAlerian MLP ETF | 0.49 | +111% | 0.89 | +5.8% | +39.1% | −12.6% | — | — | — | — | 20.9% | +5.7% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2025 | 2021 | 2018 | 2008 | 2002 | 2001 | 2000 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HON Honeywell International Inc. (this page) | 1.00 | +7.5% | 0.18 | −6.3% | −0.2% | −7.5% | −45.9% | −28.0% | −27.7% | −17.2% | 23.6% | +2.3% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.37 | +479% | 1.55 | +76.3% | −0.4% | −24.5% | −39.6% | −8.3% | −2.5% | +108% | 21.4% | +9.3% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.16 | +3,143% | 1.47 | +220% | +37.9% | −16.3% | −20.5% | −65.1% | −25.6% | −2.3% | 23.7% | +21.4% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.33 | +1,636% | 1.46 | +121% | +89.0% | +0.8% | −15.2% | −9.4% | +73.7% | −71.1% | 23.4% | +17.4% |
| MCK Medical - DistributionMcKesson Corporation | 0.36 | +413% | 1.44 | +44.5% | +44.2% | −28.4% | −40.4% | −27.2% | +4.9% | +61.2% | 21.2% | +8.7% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.24 | +690% | 1.41 | +19.2% | +61.0% | −8.2% | — | — | — | — | 21.4% | +11.3% |
Common questions
What was HON's worst drawdown?
HON's deepest decline since it began trading in 1986 was 70.8%, from June 1999 to October 2002. It took about five years from the low to climb back to its old high.
What were HON's best and worst years?
Over 29 full calendar years, HON's best year was 2013, when it returned 45.8%. Its worst was 2008, with a return of -45.9%.
Is there a better investment than HON?
Among HON's popular alternatives, ITW earned more than HON with less volatility over the past 5 years: 6.7% a year at 21.4% volatility, against 1.5% a year at 22.8%. Looking beyond its popular alternatives, ADI (industrial automation theme) earned more for the risk it took than HON over the past 5 years, and its worst fall in 10 years was 33.6%, against 43.0% for HON.
Is HON more volatile than the S&P 500?
Yes. HON's volatility over the past 5 years was 22.8%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, HON's return lands within 22.8% 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 HON's Sharpe ratio?
HON's Sharpe ratio over the past 5 years was 0.18, against 0.79 for the S&P 500, so HON 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 HON with the S&P 500?
Over the past 5 years, HON's monthly returns had a correlation of 0.55 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 HON instead: the lower it is, the more that option would diversify a HON holding.
What are the best alternatives to HON?
Of the 25 popular alternatives we compared, 14 outperformed HON in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: TT, EMR and MSFT.
Did HON outperform the S&P 500?
HON finished ahead of the S&P 500 (SPY) in 15 of 29 full calendar years. In 2025, it returned -6.3%, against +17.7% for the index.
How did HON do in stock market crashes?
HON 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 HON fell 65.8% and the S&P 500 fell 47.5%.
What diversifies HON?
These had a low correlation with HON over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.42), SMH (correlation 0.26) and GLD (correlation 0.13); among large stocks, CAH (correlation 0.37), CLS (correlation 0.16) and FIX (correlation 0.33). 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 HON's. Returns within 0.5 points or 3% of HON'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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