# How IQVIA (IQV) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/iqv
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on IQV alone. It places IQV (IQVIA Holdings 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 IQV stands in the market, and of the alternatives worth a closer look.

Period covered: IQV's full trading record, from May 2013 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** IQV has run far ahead of the market, rising 51.5% over the past 6 months against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. Its contract research peers were far apart over the past 6 months, from FTRE (Fortrea, up 118%) to DHR (Danaher, up 15.0%).
- **Stock or market?:** More than an industry move: IQV rose 31.4% over the past 3 months, against 7.5% for the contract research ETF IHI (iShares U.S. Medical Devices ETF). The S&P 500 rose 3.9%. Its contract research peers did not move as one over the past 3 months: AVTR (Avantor) rose 55.9%, while DHR (Danaher) rose 11.6%.
- **Past 1 to 3 years:** Over the past year, IQV rose 26.3% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. Even so, the last two calendar years both went the same way: IQV rose 14.7% in 2025, against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100.
- **Long term:** IQV turned $10,000 into $36,000 over the past decade, against $42,100 in the S&P 500.
- **In a crash:** Across four sell-offs, IQV has typically fallen 1.5 times as far as the S&P 500.
- **Diversification:** Against the S&P 500, IQV has a correlation of 0.54 over 5 years, more closely than 81% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge.
- **Better options**
  - **Popular alternatives:** LLY (Eli Lilly and Company), TMO (Thermo Fisher Scientific) and A (Agilent Technologies) earned more than IQV with less volatility over the past 5 years. LLY returned 40.7% a year at 32.8% volatility, against 1.3% a year at 34.7%.
  - **Nearby categories and themes:** AMGN (Amgen, biotechnology) and ABBV (AbbVie, pharmaceuticals) earned more than IQV with less volatility over the past 5 years. AMGN returned 19.6% a year at 24.9% volatility, against 1.3% a year at 34.7%.
  - **Whole market:** 1,424 of the 3,633 stocks and funds worth at least $500 million earned more than IQV with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and MSFT (Microsoft).

## How much would $10,000 in IQV have grown?

This chart tracks a hypothetical $10,000 investment in IQV over the past 13 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of IQV over the same span and IQV's popular alternatives, among those that traded for the entire period.

- $10,000 invested in IQV at the end of September 2013 would have grown to $59,903 by September 2026, more than the $56,474 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of IQV, and LLY finished highest, at $293,821.

## IQV 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.

- IQV's deepest decline since it began trading in 2013 was 51.5%, from December 2021 to May 2025. It has not yet climbed back to that peak.
- Over 12 full calendar years, IQV's best was 2021, when it returned 57.5%, and its worst was 2022, when it lost 27.4%. It lost money in two of those years.
- IQV is 5.2% below its all-time high.

- Type: Stock, Healthcare (Medical - Diagnostics & Research)
- Trading since: May 9, 2013
- Market value: $44B
- Volatility (5 years): 34.7%; Sharpe ratio: 0.21
- Worst decline ever: −51.5%, from December 30, 2021 to May 23, 2025; not yet back at its high

| Period | IQV total return |
| --- | --- |
| 1 month | −0.8% |
| 3 months | +31.4% |
| 6 months | +51.5% |
| year to date | +18.8% |
| 1 year | +26.3% |
| 3 years | +45.3% |
| 5 years | +6.5% |
| 10 years | +260% |

## IQV against the whole market

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

### How does IQV rank among all stocks?

This section ranks IQV on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- IQV's worst decline of the past 10 years ranks in the top 24% of the 2,187 stocks worth at least $300 million, where the top fell the least.

| Measure | IQV | Rank |
| --- | --- | --- |
| 1-year return | +26.3% | 1,074 of 3,287 (top 33%) |
| 3-year return | +45.3% | 1,624 of 3,017 (top 54%) |
| 5-year return | +6.5% | 1,635 of 2,893 (top 57%) |
| 10-year return | +260% | 688 of 2,202 (top 32%) |
| Volatility, 5 years | 34.7% | 1,124 of 2,893 (top 39%) |
| Sharpe ratio, 5 years | 0.21 | 1,827 of 2,893 (top 64%) |
| Worst decline, past 10 years | −51.5% | 517 of 2,187 (top 24%) |

### What has beaten IQV 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).

- 654 stocks and 770 ETFs worth at least $500 million sit in the green region: each earned more than IQV over the past 5 years with smaller price swings. That is 39% of the 3,633 screened.
- Among those with at least half IQV's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 29% less than IQV's 34.7%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.21 for IQV. HWM earned the most, 47.3% a year, while still swinging less than IQV (32.5% against 34.7%).
- Among IQV's popular alternatives, LLY, LH and XBI are in the region. LLY earned 40.7% a year against 1.3% a year for IQV, at 32.8% volatility, 6% less than IQV's 34.7%.

### Is there a better investment than IQV?

The table below lists investments that beat IQV 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.

- Among IQV's popular alternatives, LLY, TMO and A earned more than IQV with less volatility over the past 5 years. LLY returned 40.7% a year at 32.8% volatility, against 1.3% a year at 34.7%.
- Looking beyond its popular alternatives, AMGN (biotechnology) and ABBV (pharmaceuticals) earned more than IQV with less volatility over the past 5 years. AMGN returned 19.6% a year at 24.9% volatility, against 1.3% a year at 34.7%.
- Across the whole market, 1,424 of the 3,633 stocks and funds worth at least $500 million earned more than IQV with less volatility over the past 5 years, among them AAPL, GOOG and MSFT.

The 15 strongest of 1,424 investments that beat IQV over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with IQV | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| IQV: IQVIA Holdings Inc. (this page) |  | +1.3% | 34.7% | 0.21 | −51.5% | +260% |  |  |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.28 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.27 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [SGOV](https://easycompare.io/research/sgov): iShares 0-3 Month Treasury Bond ETF | Treasury Bonds | +3.8% | 0.3% | 13.25 | −0.3% | — | 0.04 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [LIN](https://easycompare.io/research/lin): Linde plc | Chemicals | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.22 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [DE](https://easycompare.io/research/de): Deere & Company | Industrial Machinery | +14.4% | 29.9% | 0.60 | −37.9% | +755% | 0.09 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [VIG](https://easycompare.io/research/vig): Vanguard Dividend Appreciation ETF | US Dividend Equity | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.55 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [TRV](https://easycompare.io/research/trv): The Travelers Companies, Inc. | Property & Casualty Insurance | +22.4% | 22.3% | 1.02 | −46.3% | +347% | 0.15 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [TMUS](https://easycompare.io/research/tmus): T-Mobile US, Inc. | Telecommunications | +6.4% | 26.1% | 0.37 | −44.0% | +253% | 0.04 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [CME](https://easycompare.io/research/cme): CME Group Inc. | Capital Markets | +11.2% | 20.8% | 0.62 | −37.4% | +319% | 0.11 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [RSG](https://easycompare.io/research/rsg): Republic Services, Inc. | Environmental Services | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.07 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [ORLY](https://easycompare.io/research/orly): O'Reilly Automotive, Inc. | Specialty Retail | +15.9% | 23.4% | 0.75 | −42.0% | +393% | 0.21 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| JAAA: Janus Henderson AAA CLO ETF | CLO Bonds | +5.1% | 1.7% | 2.98 | −2.6% | — | 0.18 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [WM](https://easycompare.io/research/wm): Waste Management, Inc. | Environmental Services | +9.3% | 19.2% | 0.56 | −30.1% | +344% | 0.04 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [ETR](https://easycompare.io/research/etr): Entergy Corporation | Electric Utilities | +19.2% | 22.4% | 0.90 | −42.0% | +311% | 0.03 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [FAST](https://easycompare.io/research/fast): Fastenal Company | Industrial Distribution | +15.8% | 24.6% | 0.72 | −30.7% | +576% | 0.29 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |

## IQV against its popular alternatives

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

### How do IQV'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.

- Six of the 19 popular alternatives, led by LLY, LH and XBI, were both more rewarding and calmer than IQV over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, IQV returned 1.3% a year, less than the S&P 500's 12.7%, with higher volatility (34.7% against 17.1%).

### Has IQV consistently beaten its popular alternatives?

This section compares IQV with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Three of the 20 popular alternatives, A, CRL and VEEV, outperformed IQV in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- LLY, MEDP and LH earned more for the risk they took than IQV (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
- TMO outperformed IQV over all three long-term periods but in only one of the five short-term ones, so IQV has had the better of it lately.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of IQV | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| IQV: IQVIA Holdings Inc. (this page) | +26.3% | +45.3% | +6.5% | +260% |  |  | 0.21 |
| [A](https://easycompare.io/research/a): Agilent Technologies, Inc. | +22.0% | +62.1% | +13.8% | +306% | 3/5 short-term, 3/3 long-term | consistent | 0.24 |
| CRL: Charles River Laboratories International, Inc. | +71.3% | +70.1% | −25.1% | +280% | 5/5 short-term, 2/3 long-term | consistent | 0.09 |
| [VEEV](https://easycompare.io/research/veev): Veeva Systems Inc. | +11.5% | +59.0% | −0.4% | +715% | 4/5 short-term, 2/3 long-term | consistent | 0.19 |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | +59.7% | +124% | +451% | +1,807% | 2/5 short-term, 3/3 long-term |  | 1.21 |
| [TMO](https://easycompare.io/research/tmo): Thermo Fisher Scientific Inc. | +26.8% | +49.5% | +15.1% | +366% | 1/5 short-term, 3/3 long-term |  | 0.24 |
| MEDP: Medpace Holdings, Inc. | +14.3% | +172% | +231% | +1,914% | 0/5 short-term, 3/3 long-term |  | 0.70 |
| LH: Labcorp Holdings Inc. | +12.2% | +67.4% | +42.4% | +184% | 2/5 short-term, 2/3 long-term |  | 0.42 |
| [WAT](https://easycompare.io/research/wat): Waters Corporation | +29.0% | +74.6% | +24.4% | +182% | 2/5 short-term, 2/3 long-term |  | 0.30 |
| XBI: State Street SPDR S&P Biotech ETF | +39.7% | +130% | +25.1% | +159% | 2/5 short-term, 2/3 long-term |  | 0.30 |
| RGEN: Repligen Corporation | +15.8% | +22.5% | −33.3% | +514% | 0/5 short-term, 1/3 long-term |  | 0.10 |
| AVTR: Avantor, Inc. | +9.5% | −19.1% | −56.9% | — | 4/5 short-term, 0/3 long-term |  | -0.20 |
| FTRE: Fortrea Holdings Inc. | +119% | −20.0% | — | — | 4/5 short-term, 0/3 long-term |  | — |
| MRVI: Maravai LifeSciences Holdings, Inc. | +105% | +4.2% | −82.4% | — | 4/5 short-term, 0/3 long-term |  | -0.09 |
| [PFE](https://easycompare.io/research/pfe): Pfizer Inc. | +30.5% | +19.2% | −8.3% | +55.0% | 3/5 short-term, 0/3 long-term |  | 0.06 |
| CERT: Certara, Inc. | −20.5% | −27.6% | −74.4% | — | 3/5 short-term, 0/3 long-term |  | -0.21 |
| [UNH](https://easycompare.io/research/unh): UnitedHealth Group Incorporated | +18.1% | −15.3% | +5.5% | +241% | 2/5 short-term, 0/3 long-term |  | 0.20 |
| TECH: Bio-Techne Corporation | +16.7% | +15.1% | −41.4% | +191% | 2/5 short-term, 0/3 long-term |  | -0.08 |
| [DHR](https://easycompare.io/research/dhr): Danaher Corporation | +8.3% | +10.8% | −17.6% | +232% | 1/5 short-term, 0/3 long-term |  | 0.01 |
| ICLR: ICON Public Limited Company | −7.6% | −23.2% | −37.0% | +106% | 1/5 short-term, 0/3 long-term |  | 0.04 |
| BIO: Bio-Rad Laboratories, Inc. | +10.1% | +14.1% | −52.5% | +115% | 0/5 short-term, 0/3 long-term |  | -0.21 |

### How did IQV do year by year?

This table shows each investment's total return in every full calendar year since 2014, along with where IQV ranked among its popular alternatives each year.

- IQV finished ahead of the S&P 500 in six of its 12 full calendar years, and behind it in each of the last four.
- Among its popular alternatives, MEDP came out ahead of IQV most often, in seven of the nine years both traded.
- Ranked against its popular alternatives each year, IQV finished in the top quarter in two of 12 years and in the bottom quarter in one. In 2025, it ranked 4 of 21.

| Year | IQV | SPY |
| --- | --- | --- |
| 2025 | +14.7% | +17.7% |
| 2024 | −15.1% | +24.9% |
| 2023 | +12.9% | +26.2% |
| 2022 | −27.4% | −18.2% |
| 2021 | +57.5% | +28.7% |
| 2020 | +16.0% | +18.3% |
| 2019 | +33.0% | +31.2% |
| 2018 | +18.7% | −4.6% |
| 2017 | +28.7% | +21.7% |
| 2016 | +10.8% | +12.0% |

## Risk and diversification

How IQV 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 IQV's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all five of IQV's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: IQV fell 51.5% from December 2021 to May 2025, while the S&P 500 rose 27.5%.
- None of these declines kept IQV below its old high for long; the longest climb back took seven months.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −51.5% | December 30, 2021 | May 23, 2025 | not yet | +27.5% | 2022 bear market |
| −49.4% | February 12, 2020 | March 23, 2020 | September 2, 2020 | −33.5% | Covid crash |
| −29.3% | July 29, 2015 | February 8, 2016 | September 23, 2016 | −11.0% | 2015 China and oil sell-off |
| −19.2% | September 27, 2018 | December 24, 2018 | February 12, 2019 | −18.9% | late-2018 sell-off |
| −14.9% | February 19, 2014 | May 6, 2014 | July 3, 2014 | +2.5% |  |

### How did IQV do in stock market crashes?

This section measures how far IQV, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- IQV fell further than the S&P 500 in four of the six crashes it has traded through. The clearest case was the 2015 China and oil sell-off, when IQV fell 28.7% and the S&P 500 fell 12.8%.
- Among its popular alternatives, A held up best, falling less than IQV in five of the six crashes they both traded through.
- IQV began trading after the 2008 financial crisis, but 14 of its popular alternatives lived through it. The mildest fall among them was LH's 33.5%, against 55.2% for the S&P 500.

| Crash | Dates | IQV fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | not trading | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | not trading | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | not trading | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −28.7% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −5.3% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −19.2% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −48.9% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −35.9% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −6.8% | −3.4% |

### How closely does IQV 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.

- Nine of the 16 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than IQV's 0.77, led by LLY, MEDP and VEEV.
- VEEV took just 89% of the S&P 500's losses, against 167% for IQV, while still keeping 113% of its gains.
- Over the past 10 years, IQV captured 128% of the S&P 500's gains in rising months and 167% of its losses in falling months, with a beta of 1.31. It amplified the market's moves in both directions.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| IQV: IQVIA Holdings Inc. (this page) | 128% | 167% | 1.31 |
| [A](https://easycompare.io/research/a): Agilent Technologies, Inc. | 120% | 141% | 1.13 |
| CRL: Charles River Laboratories International, Inc. | 135% | 175% | 1.30 |
| [VEEV](https://easycompare.io/research/veev): Veeva Systems Inc. | 113% | 89.0% | 0.87 |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | 101% | 6.0% | 0.37 |
| [TMO](https://easycompare.io/research/tmo): Thermo Fisher Scientific Inc. | 104% | 104% | 0.81 |
| MEDP: Medpace Holdings, Inc. | 168% | 118% | 1.24 |
| LH: Labcorp Holdings Inc. | 81.0% | 91.0% | 0.97 |
| [WAT](https://easycompare.io/research/wat): Waters Corporation | 107% | 139% | 1.01 |
| XBI: State Street SPDR S&P Biotech ETF | 93.0% | 122% | 1.01 |
| RGEN: Repligen Corporation | 119% | 108% | 0.99 |
| [PFE](https://easycompare.io/research/pfe): Pfizer Inc. | 52.0% | 81.0% | 0.54 |
| [UNH](https://easycompare.io/research/unh): UnitedHealth Group Incorporated | 81.0% | 82.0% | 0.70 |
| TECH: Bio-Techne Corporation | 120% | 162% | 1.23 |
| [DHR](https://easycompare.io/research/dhr): Danaher Corporation | 84.0% | 84.0% | 0.75 |
| ICLR: ICON Public Limited Company | 97.0% | 135% | 1.04 |
| BIO: Bio-Rad Laboratories, Inc. | 104% | 146% | 0.99 |

### What diversifies IQV?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in IQV into GLD would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (+2.3% for IQV alone, +6.6% for the mix).
- MCK made money in two of the two calendar years in which IQV lost money.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of IQV over the past 5 years, with correlations of 0.33 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with IQV | 5Y return | Volatility | Sharpe | Rose in IQV's 2 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.33 | +119% | 11.1% | 1.48 | 2 of 2 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.26 | +225% | 19.1% | 1.34 | 2 of 2 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.23 | +101% | 14.5% | 1.04 | 2 of 2 |
| HDV: iShares Core High Dividend ETF | 0.39 | +83.3% | 13.0% | 1.00 | 2 of 2 |
| FTLS: First Trust Long/Short Equity ETF | 0.48 | +62.9% | 10.4% | 0.99 | 1 of 2 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.32 | +323% | 36.9% | 0.97 | 1 of 2 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.44 | +85.0% | 13.8% | 0.96 | 1 of 2 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.00 | +126% | 18.9% | 0.96 | 1 of 2 |

## Common questions

### What was IQV's worst drawdown?

IQV's deepest decline since it began trading in 2013 was 51.5%, from December 2021 to May 2025. It has not yet climbed back to that peak. Because IQV launched in May 2013, that record does not include the dot-com bust, the 2008 financial crisis or two other sell-offs.

### What were IQV's best and worst years?

Over 12 full calendar years, IQV's best year was 2021, when it returned 57.5%. Its worst was 2022, with a return of -27.4%.

### Is there a better investment than IQV?

Among IQV's popular alternatives, LLY, TMO and A earned more than IQV with less volatility over the past 5 years. LLY returned 40.7% a year at 32.8% volatility, against 1.3% a year at 34.7%. Looking beyond its popular alternatives, AMGN (biotechnology) and ABBV (pharmaceuticals) earned more than IQV with less volatility over the past 5 years. AMGN returned 19.6% a year at 24.9% volatility, against 1.3% a year at 34.7%.

### Is IQV more volatile than the S&P 500?

Yes. IQV's volatility over the past 5 years was 34.7%, about twice the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, IQV's return lands within 34.7% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is IQV's Sharpe ratio?

IQV's Sharpe ratio over the past 5 years was 0.21, against 0.79 for the S&P 500, so IQV 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 IQV with the S&P 500?

Over the past 5 years, IQV's monthly returns had a correlation of 0.54 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 IQV instead: the lower it is, the more that option would diversify a IQV holding.

### What are the best alternatives to IQV?

Of the 20 popular alternatives we compared, three outperformed IQV in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: A, CRL and VEEV.

### Did IQV outperform the S&P 500?

IQV finished ahead of the S&P 500 (SPY) in six of 12 full calendar years. In 2025, it returned +14.7%, against +17.7% for the index.

### How did IQV do in stock market crashes?

IQV fell less than the S&P 500 (SPY) in one of the six major crashes it has traded through, and further in four. The clearest case was the 2015 China and oil sell-off, when IQV fell 28.7% and the S&P 500 fell 12.8%.

### What diversifies IQV?

These had a low correlation with IQV over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.33), DXJ (correlation 0.26) and EMLP (correlation 0.23); among large stocks, CAH (correlation 0.22), CLS (correlation 0.18) and FIX (correlation 0.22). A correlation near zero means the two have moved largely independently.

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## Explore further

- Full page with charts: https://easycompare.io/research/iqv
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against IQV live: https://betterthanspy.com/?b=IQV&utm_source=easycompare&utm_medium=research