EasyCompare

Relative Intelligence · Banks

How ICICI Bank (IBN) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on IBN alone. It places IBN (ICICI Bank Limited) against 5 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 IBN stands in the market, and of the alternatives worth a closer look.

Period covered: IBN's full trading record, from March 2000 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 IBN →Chart IBN vs. 5 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in IBN over the past 18 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of IBN over the same span and IBN'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: The chart covers the past 18 years rather than IBN's full 26 years, because most of its popular alternatives have not traded that long.

Choose a period

From the end of September 2008 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. 583 of the 1,883 stocks and funds worth at least $500 million that traded the whole period ended ahead of IBN; the chart shows 5, closest alternatives first. The other 2 lines are popular alternatives, shown for context.

$5,000$10,000$20,000$50,000$100,000$200,0002008201120142017202020232026$10,000$100,0002008201320182023
  • MA$341,381+3,314% total · +21.7% a year
  • V$266,572+2,566% total · +20.0% a year
  • JPM$110,612+1,006% total · +14.3% a year
  • SPY (S&P 500)$91,104+811% total · +13.1% a year
  • RY$81,608+716% total · +12.4% a year
  • TD$79,240+692% total · +12.2% a year
  • IBN$77,165+672% total · +12.0% a year
  • HDB$72,296+623% total · +11.6% a year
  • EPI$31,066+211% total · +6.5% 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. 1,528 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of IBN; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$15,000$20,000$25,000$30,000202120222023202420252026$5,000$10,000$15,000$20,000$25,000$30,000202120222023202420252026
  • RY$23,646+136% total · +18.8% a year
  • TD$21,998+120% total · +17.1% a year
  • BNS$19,504+95.0% total · +14.3% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • V$16,755+67.5% total · +10.9% a year
  • MA$16,338+63.4% total · +10.3% a year
  • IBN$15,171+51.7% total · +8.7% a year
  • EPI$11,724+17.2% total · +3.2% a year
  • INDA$10,291+2.9% total · +0.6% a year
  • HDB$6,717−32.8% total · −7.7% a year
Change the dates or add tickers to this chart in EasyCompare

IBN at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The company

Market value
$106B
Industry
Banks - Regional
Price history from
March 2000

Returns

Past 1 year
−2.8%total return
Past 3 years
+37.6%+11.2% a year
Past 5 years
+55.5%+9.2% a year
Past 10 years
+318%+15.4% a year
Best calendar year
+175%2003
Worst calendar year
−68.1%2008
Losing years
7 of 25full calendar years

Risk

Volatility
23.5%typical yearly swing, 5 years
Sharpe ratio
0.49return per unit of risk, 5 years
Worst decline ever
−86.1%Jan 2008 to Mar 2009
From its all-time high
−11.8%below the peak

IBN against the whole market

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

How does IBN rank among all stocks?

This section ranks IBN 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 IBN 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.

MeasureIBNRankStanding
1-year return−2.8%2,099 of 3,287bottom 37%
3-year return+37.6%1,738 of 3,017bottom 43%
5-year return+55.5%1,046 of 2,893top 36%
10-year return+318%541 of 2,202top 25%
Volatility, 5 years23.5%235 of 2,893top 8%
Sharpe ratio, 5 years0.49940 of 2,893top 32%
Worst decline, past 10 years−55.0%670 of 2,187top 31%

What has beaten IBN 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). IBN sits where the dashed lines cross. Anything in the green box above and to the left earned more than IBN 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 IBN; faint dots are 91 more of the 317 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.

7.5%10.0%12.5%15.0%17.5%20.0%22.5%25.0%27.5%5.0%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 IBNLVHI: +17.0% a year, volatility 11.1%KO: +14.7% a year, volatility 16.8%NVS: +17.1% a year, volatility 20.7%VTV: +12.1% a year, volatility 13.7%CB: +15.7% a year, volatility 20.4%VIG: +10.4% a year, volatility 14.1%IWF: +11.7% a year, volatility 21.8%VT: +10.3% a year, volatility 16.2%RSG: +13.9% a year, volatility 18.5%PJUL: +10.5% a year, volatility 8.6%FJAN: +11.1% a year, volatility 10.5%AME: +14.4% a year, volatility 22.1%DYNF: +14.7% a year, volatility 17.5%SDCI: +20.6% a year, volatility 18.4%EFV: +13.6% a year, volatility 15.9%ED: +12.0% a year, volatility 18.8%FNDF: +13.6% a year, volatility 16.3%SPMO: +18.7% a year, volatility 20.8%IUSG: +12.9% a year, volatility 21.2%AVLV: +14.0% a year, volatility 16.9%PVAL: +16.1% a year, volatility 15.1%HDV: +12.9% a year, volatility 13.0%AVDV: +13.9% a year, volatility 17.4%RDVY: +11.3% a year, volatility 18.8%EMXC: +11.1% a year, volatility 19.5%COWZ: +11.4% a year, volatility 17.7%RWL: +13.7% a year, volatility 14.4%FDVV: +13.2% a year, volatility 14.6%IOO: +15.7% a year, volatility 17.2%JQUA: +13.6% a year, volatility 15.7%VLUE: +15.9% a year, volatility 18.4%BBCA: +11.4% a year, volatility 16.7%DIVO: +11.1% a year, volatility 11.9%HEFA: +13.3% a year, volatility 13.8%PDBC: +11.7% a year, volatility 19.3%USMC: +14.1% a year, volatility 16.4%GCOW: +14.1% a year, volatility 13.6%TDIV: +16.2% a year, volatility 21.3%MPLX: +23.5% a year, volatility 18.8%IWX: +12.7% a year, volatility 13.8%GNR: +10.7% a year, volatility 20.1%FTGC: +12.9% a year, volatility 15.6%FTLS: +10.2% a year, volatility 10.4%EWU: +11.4% a year, volatility 16.4%SPUS: +15.0% a year, volatility 19.5%WTV: +13.4% a year, volatility 17.0%EQWL: +11.6% a year, volatility 15.0%HDEF: +12.8% a year, volatility 14.2%DIVB: +13.9% a year, volatility 15.4%FTHI: +10.3% a year, volatility 13.3%FLQL: +13.8% a year, volatility 16.3%JMOM: +12.9% a year, volatility 19.1%NULG: +11.4% a year, volatility 21.9%AVIV: +12.6% a year, volatility 16.7%DSTL: +11.3% a year, volatility 16.1%DHS: +12.0% a year, volatility 13.9%RODM: +10.6% a year, volatility 13.5%RAAX: +11.7% a year, volatility 15.6%INFL: +11.8% a year, volatility 17.8%FVAL: +12.4% a year, volatility 16.4%RDIV: +12.2% a year, volatility 17.3%BKIE: +11.5% a year, volatility 16.4%VFMF: +14.3% a year, volatility 17.6%COMT: +13.1% a year, volatility 21.1%FDT: +11.5% a year, volatility 18.8%PPH: +11.6% a year, volatility 15.8%DUSA: +11.3% a year, volatility 18.4%FTXH: +11.9% a year, volatility 16.9%HLAL: +14.0% a year, volatility 18.0%EQL: +13.5% a year, volatility 14.5%ROUS: +12.3% a year, volatility 14.4%DJP: +11.2% a year, volatility 18.9%DGT: +13.8% a year, volatility 15.1%FYLD: +13.1% a year, volatility 16.0%EYLD: +11.9% a year, volatility 18.4%SIXA: +12.8% a year, volatility 12.7%UMI: +18.7% a year, volatility 19.2%IDOG: +14.1% a year, volatility 15.6%QDEF: +12.7% a year, volatility 13.7%SFY: +13.9% a year, volatility 19.4%VSLU: +13.7% a year, volatility 16.2%NXTG: +16.2% a year, volatility 19.1%PJP: +11.2% a year, volatility 16.6%IPKW: +11.0% a year, volatility 17.0%KIE: +10.8% a year, volatility 18.5%BTI: +18.7% a year, volatility 22.0%MO: +17.8% a year, volatility 21.4%AFL: +19.0% a year, volatility 20.8%TAK: +11.9% a year, volatility 19.4%GLD: +17.7% a year, volatility 18.9%SLF: +11.7% a year, volatility 19.4%IBN: +9.2% a year, volatility 23.5%SPY (S&P 500): +12.7% a year, volatility 17.1%V: +12.8% a year, volatility 22.9%MA: +12.4% a year, volatility 23.8%RY: +17.3% a year, volatility 18.2%TD: +15.8% a year, volatility 20.0%BNS: +12.9% a year, volatility 19.9%CME: +11.2% a year, volatility 20.8%JPM: +17.3% a year, volatility 24.3%CBOE: +21.5% a year, volatility 25.1%VTI: +11.5% a year, volatility 17.5%VOO: +12.8% a year, volatility 16.9%BRK-B: +13.4% a year, volatility 17.1%JNJ: +12.7% a year, volatility 17.9%DXJ: +26.6% a year, volatility 19.1%CAH: +42.1% a year, volatility 24.7%SCHD: +9.7% a year, volatility 14.3%ORLY: +15.9% a year, volatility 23.4%IBNSPY (S&P 500)VMARYTDBNSCMEJPMCBOEVTIBRK-BDXJCAHSCHDORLY5.0%10.0%15.0%20.0%25.0%30.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than IBNLVHI: +17.0% a year, volatility 11.1%KO: +14.7% a year, volatility 16.8%NVS: +17.1% a year, volatility 20.7%VTV: +12.1% a year, volatility 13.7%CB: +15.7% a year, volatility 20.4%VIG: +10.4% a year, volatility 14.1%IWF: +11.7% a year, volatility 21.8%VT: +10.3% a year, volatility 16.2%RSG: +13.9% a year, volatility 18.5%PJUL: +10.5% a year, volatility 8.6%FJAN: +11.1% a year, volatility 10.5%AME: +14.4% a year, volatility 22.1%DYNF: +14.7% a year, volatility 17.5%SDCI: +20.6% a year, volatility 18.4%EFV: +13.6% a year, volatility 15.9%ED: +12.0% a year, volatility 18.8%FNDF: +13.6% a year, volatility 16.3%SPMO: +18.7% a year, volatility 20.8%IUSG: +12.9% a year, volatility 21.2%AVLV: +14.0% a year, volatility 16.9%PVAL: +16.1% a year, volatility 15.1%HDV: +12.9% a year, volatility 13.0%AVDV: +13.9% a year, volatility 17.4%RDVY: +11.3% a year, volatility 18.8%EMXC: +11.1% a year, volatility 19.5%COWZ: +11.4% a year, volatility 17.7%RWL: +13.7% a year, volatility 14.4%FDVV: +13.2% a year, volatility 14.6%IOO: +15.7% a year, volatility 17.2%JQUA: +13.6% a year, volatility 15.7%VLUE: +15.9% a year, volatility 18.4%BBCA: +11.4% a year, volatility 16.7%DIVO: +11.1% a year, volatility 11.9%HEFA: +13.3% a year, volatility 13.8%PDBC: +11.7% a year, volatility 19.3%USMC: +14.1% a year, volatility 16.4%GCOW: +14.1% a year, volatility 13.6%TDIV: +16.2% a year, volatility 21.3%MPLX: +23.5% a year, volatility 18.8%IWX: +12.7% a year, volatility 13.8%GNR: +10.7% a year, volatility 20.1%FTGC: +12.9% a year, volatility 15.6%FTLS: +10.2% a year, volatility 10.4%EWU: +11.4% a year, volatility 16.4%SPUS: +15.0% a year, volatility 19.5%WTV: +13.4% a year, volatility 17.0%EQWL: +11.6% a year, volatility 15.0%HDEF: +12.8% a year, volatility 14.2%DIVB: +13.9% a year, volatility 15.4%FTHI: +10.3% a year, volatility 13.3%FLQL: +13.8% a year, volatility 16.3%JMOM: +12.9% a year, volatility 19.1%NULG: +11.4% a year, volatility 21.9%AVIV: +12.6% a year, volatility 16.7%DSTL: +11.3% a year, volatility 16.1%DHS: +12.0% a year, volatility 13.9%RODM: +10.6% a year, volatility 13.5%RAAX: +11.7% a year, volatility 15.6%INFL: +11.8% a year, volatility 17.8%FVAL: +12.4% a year, volatility 16.4%RDIV: +12.2% a year, volatility 17.3%BKIE: +11.5% a year, volatility 16.4%VFMF: +14.3% a year, volatility 17.6%COMT: +13.1% a year, volatility 21.1%FDT: +11.5% a year, volatility 18.8%PPH: +11.6% a year, volatility 15.8%DUSA: +11.3% a year, volatility 18.4%FTXH: +11.9% a year, volatility 16.9%HLAL: +14.0% a year, volatility 18.0%EQL: +13.5% a year, volatility 14.5%ROUS: +12.3% a year, volatility 14.4%DJP: +11.2% a year, volatility 18.9%DGT: +13.8% a year, volatility 15.1%FYLD: +13.1% a year, volatility 16.0%EYLD: +11.9% a year, volatility 18.4%SIXA: +12.8% a year, volatility 12.7%UMI: +18.7% a year, volatility 19.2%IDOG: +14.1% a year, volatility 15.6%QDEF: +12.7% a year, volatility 13.7%SFY: +13.9% a year, volatility 19.4%VSLU: +13.7% a year, volatility 16.2%NXTG: +16.2% a year, volatility 19.1%PJP: +11.2% a year, volatility 16.6%IPKW: +11.0% a year, volatility 17.0%KIE: +10.8% a year, volatility 18.5%BTI: +18.7% a year, volatility 22.0%MO: +17.8% a year, volatility 21.4%AFL: +19.0% a year, volatility 20.8%TAK: +11.9% a year, volatility 19.4%GLD: +17.7% a year, volatility 18.9%SLF: +11.7% a year, volatility 19.4%IBN: +9.2% a year, volatility 23.5%SPY (S&P 500): +12.7% a year, volatility 17.1%V: +12.8% a year, volatility 22.9%MA: +12.4% a year, volatility 23.8%RY: +17.3% a year, volatility 18.2%TD: +15.8% a year, volatility 20.0%BNS: +12.9% a year, volatility 19.9%CME: +11.2% a year, volatility 20.8%JPM: +17.3% a year, volatility 24.3%CBOE: +21.5% a year, volatility 25.1%VTI: +11.5% a year, volatility 17.5%VOO: +12.8% a year, volatility 16.9%BRK-B: +13.4% a year, volatility 17.1%JNJ: +12.7% a year, volatility 17.9%DXJ: +26.6% a year, volatility 19.1%CAH: +42.1% a year, volatility 24.7%SCHD: +9.7% a year, volatility 14.3%ORLY: +15.9% a year, volatility 23.4%IBNSPY (S&P 500)RYTDJPMCBOEVTIDXJCAHSCHD
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than IBN?

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

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

Screen the whole market against IBN for any period in BetterThanSPYOpen these 17 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 IBN?lower diversifies moreExpenseper year
IBNICICI Bank Limited · this page
+9.2%23.5%0.49−55.0%+318%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.300.09%
Popular alternativesbest 2 shownThe investments people most often weigh against IBN. 2 of 5 passed at least one test.
VVisa Inc. · Payment Processing
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.8%22.9%0.64−36.4%+429%0.30—
MAMastercard Incorporated · Payment Processing
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.4%23.8%0.61−41.0%+541%0.40—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Banks and the categories next to it (Regional Banks, Capital Markets, Payment Processing, Asset Management), plus IBN's specific themes. 37 of 138 passed at least one test.
RYRoyal Bank of Canada · Banks
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.3%18.2%0.97−40.0%+352%0.28—
TDThe Toronto-Dominion Bank · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+15.8%20.0%0.84−42.0%+310%0.26—
BNSThe Bank of Nova Scotia · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.9%19.9%0.71−46.9%+187%0.32—
CMECME Group Inc. · Capital Markets
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+11.2%20.8%0.62−37.4%+319%0.13—
JPMJPMorgan Chase & Co. · Banks
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.3%24.3%0.78−43.6%+537%0.29—
CBOECboe Global Markets, Inc. · Capital Markets
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+21.5%25.1%0.91−43.2%+463%0.11—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 753 of 3,490 passed at least one test.
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+11.5%17.5%0.71−35.0%+302%0.300.03%
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.8%16.9%0.80−34.0%+324%0.300.03%
BRK-BBerkshire Hathaway Inc. · Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+13.4%17.1%0.82−29.6%+274%0.39—
JNJJohnson & Johnson · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.7%17.9%0.76−27.4%+196%0.15—
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+26.6%19.1%1.34−39.1%+428%0.310.48%
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+42.1%24.7%1.55−46.1%+349%0.34—
SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+9.7%14.3%0.72−33.4%+252%0.310.06%
ORLYO'Reilly Automotive, Inc. · Specialty Retail
Higher return, similar volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+15.9%23.4%0.75−42.0%+393%0.23—
What these numbers mean for IBN
Annual return
IBN returned 9.2% 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 $15,500. 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
IBN's volatility over the past 5 years was 23.5%, 1.4 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, IBN's return lands within 23.5% 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
IBN's Sharpe ratio over the past 5 years was 0.49, against 0.79 for the S&P 500, so IBN 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
IBN's worst fall from a peak to a low over the past 10 years was 55.0%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 55.0% fall takes a 122% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, IBN's monthly returns had a correlation of 0.30 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against IBN instead: the lower it is, the more that option would diversify a IBN holding. Guide: Correlation and diversification →
Show all 317 stocks and funds worth at least $500 million that earned more than IBN with less volatility

Out of 3,633 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with IBNExpense
1
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.5%17.5%0.71−35.0%+302%0.300.03%
2
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.300.03%
3
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.39—
4
RYRoyal Bank of Canada · Banks
Same or nearby category+17.3%18.2%0.97−40.0%+352%0.28—
5
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%0.15—
6
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.310.48%
7
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.380.40%
8
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.42—
9
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.32—
10
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Whole market+12.1%13.7%0.90−36.8%+235%0.390.03%
11
CBChubb Limited · Property & Casualty Insurance
Whole market+15.7%20.4%0.82−42.6%+248%0.28—
12
VIGVanguard Dividend Appreciation ETF · US Dividend Equity
Whole market+10.4%14.1%0.78−31.7%+258%0.380.04%
13
IWFiShares Russell 1000 Growth ETF · US Large-Cap Growth
Whole market+11.7%21.8%0.62−32.7%+416%0.220.18%
14
VTVanguard Total World Stock ETF · Global Equity
Whole market+10.3%16.2%0.69−34.2%+223%0.340.06%
15
RSGRepublic Services, Inc. · Environmental Services
Whole market+13.9%18.5%0.80−34.0%+446%0.41—
16
PJULInnovator U.S. Equity Power Buffer ETF · Broad Market
Whole market+10.5%8.6%1.20−18.2%—0.240.79%
17
FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset
Whole market+11.1%10.5%1.05−13.6%—0.290.85%
18
AMEAMETEK, Inc. · Electronic Instruments
Whole market+14.4%22.1%0.72−42.7%+481%0.28—
19
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Whole market+14.7%17.5%0.87−34.7%—0.280.26%
20
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.080.80%
21
EFViShares MSCI EAFE Value ETF · International Equity
Whole market+13.6%15.9%0.88−43.2%+157%0.380.31%
22
EDConsolidated Edison, Inc. · Electric Utilities
Whole market+12.0%18.8%0.70−30.9%+114%0.32—
23
FNDFSchwab Fundamental International Large Company Index ETF · International Equity
Whole market+13.6%16.3%0.87−40.2%+194%0.360.25%
24
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%0.250.13%
25
IUSGiShares Core S&P U.S. Growth ETF · US Growth Equity
Whole market+12.9%21.2%0.68−32.4%+405%0.240.04%
26
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Whole market+14.0%16.9%0.86−19.5%—0.320.15%
27
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Whole market+16.1%15.1%1.07−41.3%—0.370.56%
28
HDViShares Core High Dividend ETF · US Dividend Equity
Whole market+12.9%13.0%1.00−37.0%+172%0.400.08%
29
AVDVAvantis International Small Cap Value ETF · International Equity
Whole market+13.9%17.4%0.84−43.0%—0.340.36%
30
RDVYFirst Trust Rising Dividend Achievers ETF · US Dividend Equity
Whole market+11.3%18.8%0.67−40.6%+322%0.360.47%
31
EMXCiShares MSCI Emerging Markets ex China ETF · Emerging Markets Equity
Whole market+11.1%19.5%0.64−42.8%—0.350.25%
32
COWZPacer US Cash Cows 100 ETF · US Large-Cap Value
Whole market+11.4%17.7%0.70−38.7%—0.290.49%
33
TDThe Toronto-Dominion Bank · Banks
Same or nearby category+15.8%20.0%0.84−42.0%+310%0.26—
34
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity
Whole market+13.7%14.4%0.97−36.1%+287%0.380.39%
35
FDVVFidelity High Dividend ETF · US Dividend Equity
Whole market+13.2%14.6%0.92−40.2%+253%0.370.15%
36
IOOiShares Global 100 ETF · Global Equity
Whole market+15.7%17.2%0.94−31.4%+361%0.280.40%
37
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Whole market+13.6%15.7%0.89−32.9%—0.320.12%
38
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+15.9%18.4%0.90−39.5%+286%0.210.15%
39
BBCAJPMorgan BetaBuilders Canada ETF · International Equity
Whole market+11.4%16.7%0.73−42.8%—0.360.19%
40
DIVOAmplify CWP Enhanced Dividend Income ETF · Equity Income
Whole market+11.1%11.9%0.95−30.0%—0.400.56%
41
HEFAiShares Currency Hedged MSCI EAFE ETF · Developed International Equity
Whole market+13.3%13.8%0.97−32.4%+210%0.390.70%
42
BNSThe Bank of Nova Scotia · Banks
Same or nearby category+12.9%19.9%0.71−46.9%+187%0.32—
43
CMECME Group Inc. · Capital Markets
Same or nearby category+11.2%20.8%0.62−37.4%+319%0.13—
44
PDBCInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF · Broad Commodities
Whole market+11.7%19.3%0.67−40.7%+153%-0.040.74%
45
USMCPrincipal U.S. Mega-Cap ETF · Broad Market
Whole market+14.1%16.4%0.89−30.0%—0.300.12%
46
GCOWPacer Global Cash Cows Dividend ETF · International
Whole market+14.1%13.6%1.04−37.6%+168%0.290.60%
47
TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity
Whole market+16.2%21.3%0.81−32.0%+388%0.150.50%
48
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.41—
49
IWXiShares Russell Top 200 Value ETF · Broad Market
Whole market+12.7%13.8%0.94−35.8%+221%0.370.20%
50
GNRState Street SPDR S&P Global Natural Resources ETF · Natural Resources Equity
Whole market+10.7%20.1%0.61−48.6%+173%0.260.40%
51
FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives
Whole market+12.9%15.6%0.86−35.9%+139%0.000.98%
52
FTLSFirst Trust Long/Short Equity ETF · Broad Market
Whole market+10.2%10.4%0.99−20.6%+158%0.240.95%
53
EWUiShares MSCI United Kingdom ETF · International
Whole market+11.4%16.4%0.74−43.3%+130%0.400.50%
54
SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology
Whole market+15.0%19.5%0.82−30.8%—0.250.45%
55
WTVWisdomTree U.S. Value Fund · Broad Market
Whole market+13.4%17.0%0.83−42.2%+303%0.310.12%
56
EQWLInvesco S&P 100 Equal Weight ETF · Broad Market
Whole market+11.6%15.0%0.81−34.3%+291%0.370.30%
57
HDEFXtrackers MSCI EAFE High Dividend Yield Equity ETF · International
Whole market+12.8%14.2%0.92−36.4%+134%0.380.09%
58
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.360.05%
59
FTHIFirst Trust BuyWrite Income ETF · Dividend & Income
Whole market+10.3%13.3%0.81−32.7%+126%0.270.75%
60
FLQLFranklin U.S. Large Cap Multifactor Index ETF · Broad Market
Whole market+13.8%16.3%0.88−33.6%—0.280.15%
61
JMOMJPMorgan U.S. Momentum Factor ETF · Broad Market
Whole market+12.9%19.1%0.73−34.3%—0.270.12%
62
NULGNuveen ESG Large-Cap Growth · Broad Market
Whole market+11.4%21.9%0.60−36.2%—0.260.26%
63
AVIVAvantis International Large Cap Value ETF · International
Whole market+12.6%16.7%0.80−27.7%—0.360.25%
64
DSTLDistillate U.S. Fundamental Stability & Value ETF · Broad Market
Whole market+11.3%16.1%0.75−33.1%—0.410.39%
65
DHSWisdomTree U.S. High Dividend Fund · Dividend & Income
Whole market+12.0%13.9%0.89−37.4%+156%0.330.38%
66
RODMHartford Multifactor Developed Markets (ex-US) ETF · International
Whole market+10.6%13.5%0.82−36.0%+141%0.340.29%
67
RAAXVanEck Real Assets ETF · Commodities
Whole market+11.7%15.6%0.79−33.9%—0.280.55%
68
INFLHorizon Kinetics Inflation Beneficiaries ETF · Broad Market
Whole market+11.8%17.8%0.72−21.3%—0.360.85%
69
FVALFidelity Value Factor ETF · Broad Market
Whole market+12.4%16.4%0.80−37.3%+291%0.310.15%
70
RDIVInvesco S&P Ultra Dividend Revenue ETF · Dividend & Income
Whole market+12.2%17.3%0.75−50.0%+184%0.220.39%
71
BKIEBNY Mellon International Equity ETF · International
Whole market+11.5%16.4%0.75−28.2%—0.360.04%
72
VFMFVanguard U.S. Multifactor ETF · Broad Market
Whole market+14.3%17.6%0.85−41.3%—0.310.18%
73
COMTiShares GSCI Commodity Dynamic Roll Strategy ETF · Commodities
Whole market+13.1%21.1%0.69−39.2%+160%-0.080.49%
74
FDTFirst Trust Developed Markets ex-US AlphaDEX Fund · International
Whole market+11.5%18.8%0.68−46.1%+151%0.280.80%
75
PPHVanEck Pharmaceutical ETF · Healthcare
Whole market+11.6%15.8%0.78−29.7%+153%0.270.36%
76
DUSADavis Select U.S. Equity ETF · Broad Market
Whole market+11.3%18.4%0.68−36.7%—0.320.59%
77
FTXHFirst Trust Nasdaq Pharmaceuticals ETF · Healthcare
Whole market+11.9%16.9%0.75−32.1%+153%0.190.60%
78
HLALWahed FTSE USA Shariah ETF · Broad Market
Whole market+14.0%18.0%0.82−33.6%—0.250.50%
79
EQLALPS Equal Sector Weight ETF · Broad Market
Whole market+13.5%14.5%0.94−34.2%+387%0.390.19%
80
ROUSHartford Multifactor US Equity ETF · Broad Market
Whole market+12.3%14.4%0.88−35.5%+238%0.320.19%
81
DJPiPath Bloomberg Commodity Index Total Return(SM) ETN · Commodities
Whole market+11.2%18.9%0.66−38.4%+120%0.070.70%
82
DGTState Street SPDR Global Dow ETF · International
Whole market+13.8%15.1%0.94−34.4%+261%0.350.50%
83
FYLDCambria Foreign Shareholder Yield ETF · Dividend & Income
Whole market+13.1%16.0%0.85−44.6%+203%0.310.59%
84
EYLDCambria Emerging Shareholder Yield ETF · International
Whole market+11.9%18.4%0.70−41.8%+199%0.380.63%
85
SIXAETC 6 Meridian Mega Cap Equity ETF · Broad Market
Whole market+12.8%12.7%1.01−18.4%—0.400.31%
86
UMIUSCF Midstream Energy Income Fund · Energy
Whole market+18.7%19.2%0.99−48.1%—0.390.85%
87
IDOGALPS International Sector Dividend Dogs ETF · International
Whole market+14.1%15.6%0.93−37.3%+180%0.300.50%
88
QDEFNorthern Trust Quality Dividend Defensive ETF · Dividend & Income
Whole market+12.7%13.7%0.94−35.7%+228%0.330.40%
89
SFYSoFi Select 500 ETF · Broad Market
Whole market+13.9%19.4%0.77−33.3%—0.260.19%
90
VSLUApplied Finance Valuation Large Cap ETF · Broad Market
Whole market+13.7%16.2%0.88−23.8%—0.320.49%
91
NXTGFirst Trust Indxx NextG ETF · Technology
Whole market+16.2%19.1%0.89−33.6%+330%0.140.70%
92
PJPInvesco Pharmaceuticals ETF · Healthcare
Whole market+11.2%16.6%0.72−34.0%+135%0.230.58%
93
IPKWInvesco International BuyBack Achievers ETF · International
Whole market+11.0%17.0%0.71−47.3%+197%0.240.55%
94
KIEState Street SPDR S&P Insurance ETF · Financials
Whole market+10.8%18.5%0.65−44.3%+203%0.300.35%
95
BTIBritish American Tobacco p.l.c. · Tobacco
Whole market+18.7%22.0%0.90−56.1%+98.2%0.23—
96
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%0.35—
97
AFLAflac Incorporated · Life Insurance
Whole market+19.0%20.8%0.95−54.9%+335%0.24—
98
TAKTakeda Pharmaceutical Company Limited · Pharmaceuticals
Whole market+11.9%19.4%0.68−54.4%+30.4%0.01—
99
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.080.40%
100
SLFSun Life Financial Inc. · Life Insurance
Whole market+11.7%19.4%0.67−50.8%+255%0.40—

IBN against its popular alternatives

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

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

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

14.0%16.0%18.0%20.0%22.0%24.0%26.0%28.0%−10.0%−5.0%0.0%5.0%10.0%15.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityIBN: 9.2% a year, volatility 23.5%SPY (S&P 500): 12.7% a year, volatility 17.1%V: 12.8% a year, volatility 22.9%HDB: −8.2% a year, volatility 27.7%MA: 12.4% a year, volatility 23.8%EPI: 2.9% a year, volatility 16.3%INDA: 0.4% a year, volatility 15.5%IBNSPY (S&P 500)VHDBMAEPIINDA15.0%17.5%20.0%22.5%25.0%27.5%30.0%−10.0%−5.0%0.0%5.0%10.0%15.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityIBN: 9.2% a year, volatility 23.5%SPY (S&P 500): 12.7% a year, volatility 17.1%V: 12.8% a year, volatility 22.9%HDB: −8.2% a year, volatility 27.7%MA: 12.4% a year, volatility 23.8%EPI: 2.9% a year, volatility 16.3%INDA: 0.4% a year, volatility 15.5%IBNSPY (S&P 500)VHDBMAEPIINDA
All figures
InvestmentAnnual returnVolatility
V Visa Inc.+12.8%22.9%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
MA Mastercard Incorporated+12.4%23.8%
IBN This pageICICI Bank Limited+9.2%23.5%
EPI WisdomTree India Earnings Fund+2.9%16.3%
INDA iShares MSCI India ETF+0.4%15.5%
HDB HDFC Bank Limited−8.2%27.7%
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Has IBN consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than IBN 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
IBN ICICI Bank Limited (this page)—+5.5%+1.1%+4.8%+0.5%−2.8%+37.6%+55.5%+318%23.5%0.49−55.0%—$106B—
MA QualifiedMastercard Incorporated5/5 short3/3 longAll-weather+9.5%+13.5%+20.5%+10.9%+10.3%+64.3%+79.2%+541%23.8%0.61−41.0%—$543B—
V QualifiedVisa Inc.5/5 short3/3 longAll-weather+9.9%+13.0%+30.0%+18.0%+19.0%+78.2%+82.5%+429%22.9%0.64−36.4%—$759B—
EPI InternationalWisdomTree India Earnings Fund0/5 short0/3 long−1.5%−1.7%−6.2%−11.4%−10.8%+13.8%+15.5%+114%16.3%0.26−50.3%0.84%$1.8B—
INDA InternationaliShares MSCI India ETF0/5 short0/3 long−1.5%−1.6%−5.4%−12.4%−12.7%+9.4%+2.2%+80.6%15.5%0.11−45.1%0.61%$5.9B—
HDB Banks - RegionalHDFC Bank Limited0/5 short0/3 long−2.5%−0.9%−10.4%−34.7%−35.0%−13.3%−34.6%+49.4%27.7%-0.17−54.3%—$118B—
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How did IBN do year by year?

This table shows each investment's total return in every full calendar year since 2001, along with where IBN ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with IBN and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

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

InvestmentYears ahead of IBN2025202420232022202120202019201820172016201520142013201220112010200920082007200620052004200320022001
IBN This pageICICI Bank Limited—+0.5%+26.4%+9.8%+11.2%+33.7%−1.6%+47.0%+6.3%+42.8%−2.3%−31.1%+57.8%−13.3%+68.3%−47.0%+36.1%+99.0%−68.1%+48.9%+46.8%+45.5%+18.5%+175%+38.5%−24.6%
Rank among alternativesTop quarter in 8 of 176 of 61 of 65 of 61 of 61 of 66 of 62 of 63 of 64 of 66 of 66 of 61 of 66 of 61 of 55 of 51 of 51 of 5————————
SPY S&P 500State Street SPDR S&P 500 ETF9 of 25+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%
MA Mastercard Incorporated12 of 19+9.0%+24.2%+23.4%−2.7%+1.2%+20.2%+59.2%+25.3%+47.7%+6.9%+13.8%+3.7%+70.7%+32.1%+66.7%−12.2%+79.8%−33.4%+119%——————
V Visa Inc.9 of 17+11.8%+22.3%+26.3%−3.4%−0.3%+17.1%+43.3%+16.5%+47.2%+1.4%+19.1%+18.7%+48.0%+50.5%+45.4%−18.9%+68.0%————————
EPI WisdomTree India Earnings Fund7 of 17+2.3%+10.7%+26.0%−4.7%+26.4%+18.6%+1.5%−9.9%+39.2%+2.8%−8.9%+27.9%−9.3%+25.3%−40.4%+20.3%+95.0%————————
INDA iShares MSCI India ETF6 of 13+2.7%+8.6%+17.2%−8.9%+21.3%+14.8%+6.5%−6.7%+36.1%−1.7%−7.1%+21.7%−5.0%————————————
HDB HDFC Bank Limited10 of 24+17.9%−3.8%−0.9%+6.3%−9.6%+14.0%+25.0%+4.0%+71.4%+1.0%+24.4%+48.5%−13.1%+59.4%−19.3%+29.3%+83.5%−45.0%+73.9%+67.9%+13.3%+49.0%+129%−6.6%—
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Risk and diversification

How IBN 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 IBN's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents IBN's five deepest drawdowns since it began trading in 2000, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

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

DuringIBN fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−86.1%−50.6%Jan 2008Mar 200914 monthsMar 201910 years
Dot-com bust−84.5%−31.9%Apr 2000Sep 200117 monthsDec 20032.3 years
Covid crash−55.0%−33.5%Feb 2020Mar 20201 monthFeb 202111 months
No named crash−38.5%+1.6%Jan 2004Jul 20046 monthsNov 20044 months
No named crash−33.3%−3.9%Mar 2006Jul 20064 monthsOct 20063 months

How did IBN do in stock market crashes?

This section measures how far IBN, 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: IBN began trading on March 28, 2000, so its row reads "Not yet trading" for the dot-com bust. 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 IBN.

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
IBN This pageICICI Bank Limited—−5.6%−26.2%−54.5%−10.4%−5.0%−45.5%−30.5%−0.3%−86.1%Not yet trading
SPY S&P 500State Street SPDR S&P 500 ETF6 of 9−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
MA Mastercard Incorporated5 of 9−4.0%−28.2%−41.0%−21.9%−5.8%−20.4%−13.8%−3.1%−62.7%—
V Visa Inc.5 of 8−3.5%−24.1%−36.4%−19.1%−5.8%−15.8%−11.5%−0.8%——
EPI WisdomTree India Earnings Fund6 of 8−3.3%−20.0%−41.9%−13.8%−3.4%−24.5%−24.6%0.0%——
INDA iShares MSCI India ETF5 of 6−3.8%−20.1%−41.9%−12.6%−4.3%−23.4%————
HDB HDFC Bank Limited5 of 9−6.3%−29.3%−48.7%−8.4%−5.5%−17.0%−23.4%0.0%−67.9%—
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How closely does IBN 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 IBN 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 IBN's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
IBN This pageICICI Bank Limited83%66%1.270.74
MA Mastercard Incorporated105%88%1.200.95
V Visa Inc.93%79%1.180.87
EPI WisdomTree India Earnings Fund62%72%0.860.65
INDA iShares MSCI India ETF57%74%0.770.62
HDB HDFC Bank Limited52%77%0.670.71
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What diversifies IBN?

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

ETFs

InvestmentCorrelation5Y returnSharpe202020162015201320112008200180/20 mix volatility80/20 mix annual return
IBN ICICI Bank Limited (this page)1.00+55.5%0.49−1.6%−2.3%−31.1%−13.3%−47.0%−68.1%−24.6%21.3%+8.7%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.38+119%1.48−9.0%——————17.8%+10.6%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.31+225%1.34+3.9%+1.1%+7.7%+41.3%−16.1%−20.8%—18.0%+12.5%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.41+101%1.04−13.4%+29.8%−25.3%+16.6%———18.4%+10.4%
HDV Dividend & IncomeiShares Core High Dividend ETF0.40+83.3%1.00−6.5%+15.9%−0.3%+23.8%———18.3%+9.7%
SMH TechnologyVanEck Semiconductor ETF0.12+323%0.97+55.5%+35.6%−0.3%+33.4%+6.8%−44.7%−14.6%19.1%+15.2%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.38+85.0%0.96+2.1%+6.3%+4.1%+26.4%———18.0%+10.0%
GLD CommoditiesSPDR Gold Shares0.08+126%0.96+24.8%+8.0%−10.7%−28.3%+9.6%+4.9%—17.6%+11.1%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.25+136%0.93+28.2%+7.4%—————18.5%+11.7%

Stocks

InvestmentCorrelation5Y returnSharpe202020162015201320112008200180/20 mix volatility80/20 mix annual return
IBN ICICI Bank Limited (this page)1.00+55.5%0.49−1.6%−2.3%−31.1%−13.3%−47.0%−68.1%−24.6%21.3%+8.7%
CAH Medical - DistributionCardinal Health, Inc.0.34+479%1.55+10.1%−17.5%+12.6%+66.0%+8.1%−39.6%−2.5%19.5%+14.7%
CLS Hardware, Equipment & PartsCelestica Inc.0.02+3,143%1.47−2.4%+7.4%−6.0%+27.6%−24.4%−20.5%−25.6%20.8%+27.7%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.23+1,636%1.46+6.7%+18.3%+67.7%+61.7%−17.0%−15.2%+73.7%21.0%+23.3%
MCK Medical - DistributionMcKesson Corporation0.21+413%1.44+27.1%−28.3%−4.5%+67.7%+11.8%−40.4%+4.9%18.7%+14.2%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.10+690%1.41−27.4%+0.7%+17.4%+48.6%———18.8%+17.0%
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Common questions

What was IBN's worst drawdown?

IBN's deepest decline since it began trading in 2000 was 86.1%, from January 2008 to March 2009. It took about ten years from the low to climb back to its old high.

What were IBN's best and worst years?

Over 25 full calendar years, IBN's best year was 2003, when it returned 175%. Its worst was 2008, with a return of -68.1%.

Is there a better investment than IBN?

Among IBN's popular alternatives, V earned more for the risk it took than IBN over the past 5 years, and its worst fall in 10 years was 36.4%, against 55.0% for IBN. Looking beyond its popular alternatives, RY (banks) and TD (banks) earned more than IBN with less volatility over the past 5 years. RY returned 17.3% a year at 18.2% volatility, against 9.2% a year at 23.5%.

Is IBN more volatile than the S&P 500?

Yes. IBN's volatility over the past 5 years was 23.5%, 1.4 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, IBN's return lands within 23.5% 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 IBN's Sharpe ratio?

IBN's Sharpe ratio over the past 5 years was 0.49, against 0.79 for the S&P 500, so IBN 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 IBN with the S&P 500?

Over the past 5 years, IBN's monthly returns had a correlation of 0.30 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against IBN instead: the lower it is, the more that option would diversify a IBN holding.

What are the best alternatives to IBN?

Of the five popular alternatives we compared, two outperformed IBN in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: MA and V.

Did IBN outperform the S&P 500?

IBN finished ahead of the S&P 500 (SPY) in 16 of 25 full calendar years. In 2025, it returned +0.5%, against +17.7% for the index.

How did IBN do in stock market crashes?

IBN fell less than the S&P 500 (SPY) in three of the nine major crashes it has traded through, and further in six. The clearest case was the 2015 China and oil sell-off, when IBN fell 45.5% and the S&P 500 fell 12.8%.

What diversifies IBN?

These had a low correlation with IBN over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.38), DXJ (correlation 0.31) and EMLP (correlation 0.41); among large stocks, CAH (correlation 0.34), CLS (correlation 0.02) and FIX (correlation 0.23). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to IBN

Other stocks and ETFs