# How Keurig Dr Pepper (KDP) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/kdp
> 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 KDP alone. It places KDP (Keurig Dr Pepper Inc.) against 17 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 KDP stands in the market, and of the alternatives worth a closer look.

Period covered: KDP's full trading record, from April 2008 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:** KDP has run far ahead of the market, rising 32.5% over the past 6 months against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. After a 31.2% loss from August 2022 to October 2025, KDP has bounced 41.2% off the low.
- **Stock or market?:** More than an industry move: KDP rose 14.6% over the past 3 months, against 4.1% for the food & beverages ETF XLP (State Street Consumer Staples Select Sector SPDR ETF). The S&P 500 rose 3.9%. Last month cut against the tape: KDP rose 13.9% while the S&P 500 fell 0.6%.
- **Past 1 to 3 years:** Over the past year, KDP rose 28.7% 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: KDP fell 10.1% in 2025, against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100.
- **Long term:** KDP turned $10,000 into $38,100 over the past decade, against $42,100 in the S&P 500.
- **In a crash:** Across five sell-offs, KDP has typically lost about 74% as much as the S&P 500. The 2022 bear market took 12.2% off KDP, against 24.5% for the S&P 500, and less than food & beverage peers such as KO (Coca-Cola, 16.7%).
- **Diversification:** KDP is some diversification, but not a hedge: a correlation of 0.31 with the S&P 500 over 5 years and 0.32 with the total US market, less closely than 68% of stocks worth at least $300 million. Over 10 years, KDP's beta versus the S&P 500 was 0.56: 59% of the S&P 500's gains in rising months and 38% of its losses in falling ones.
- **Better options**
  - **Nearby categories and themes:** MDLZ (Mondelez International, packaged foods) earned more than KDP with less volatility over the past 5 years: 4.0% a year at 20.2% volatility, against 2.5% a year at 22.1%.
  - **Whole market:** 621 of the 3,633 stocks and funds worth at least $500 million earned more than KDP 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 KDP have grown?

This chart tracks a hypothetical $10,000 investment in KDP over the past 18 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of KDP over the same span and KDP's popular alternatives, among those that traded for the entire period.

- $10,000 invested in KDP at the end of September 2008 would have grown to $378,655 by September 2026, more than the $91,104 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of KDP, and NVDA finished highest, at $9,364,421.

## KDP 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.

- KDP's deepest decline since it began trading in 2008 was 57.3%, from April 2008 to March 2009. It took six months from the low to climb back to its old high.
- Over 17 full calendar years, KDP's best was 2009, when it returned 80.1%, and its worst was 2025, when it lost 10.1%. It lost money in four of those years.
- KDP is 2.8% below its all-time high.

- Type: Stock, Consumer Staples (Beverages - Non-Alcoholic)
- Trading since: April 28, 2008
- Market value: $47B
- Volatility (5 years): 22.1%; Sharpe ratio: 0.23
- Worst decline ever: −57.3%, from April 30, 2008 to March 9, 2009; back at its high by September 29, 2009

| Period | KDP total return |
| --- | --- |
| 1 month | +13.9% |
| 3 months | +14.6% |
| 6 months | +32.5% |
| year to date | +27.8% |
| 1 year | +28.7% |
| 3 years | +31.9% |
| 5 years | +13.4% |
| 10 years | +281% |

## KDP against the whole market

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

### How does KDP rank among all stocks?

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

- KDP's worst decline of the past 10 years ranks in the top 4% of the 2,187 stocks worth at least $300 million, where the top fell the least.

| Measure | KDP | Rank |
| --- | --- | --- |
| 1-year return | +28.7% | 1,005 of 3,287 (top 31%) |
| 3-year return | +31.9% | 1,822 of 3,017 (top 61%) |
| 5-year return | +13.4% | 1,551 of 2,893 (top 54%) |
| 10-year return | +281% | 638 of 2,202 (top 29%) |
| Volatility, 5 years | 22.1% | 152 of 2,893 (top 6%) |
| Sharpe ratio, 5 years | 0.23 | 1,778 of 2,893 (top 62%) |
| Worst decline, past 10 years | −36.9% | 84 of 2,187 (top 4%) |

### What has beaten KDP 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).

- 61 stocks and 560 ETFs worth at least $500 million sit in the green region: each earned more than KDP over the past 5 years with smaller price swings. That is 17% of the 3,633 screened.
- Among those with at least half KDP's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 50% less than KDP's 22.1%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.23 for KDP. DXJ earned the most, 26.6% a year, while still swinging less than KDP (19.1% against 22.1%).
- Among KDP's popular alternatives, KO is in the region. KO earned 14.7% a year against 2.5% a year for KDP, at 16.8% volatility, 24% less than KDP's 22.1%.

### Is there a better investment than KDP?

The table below lists investments that beat KDP 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 KDP's popular alternatives, KO earned more than KDP with less volatility over the past 5 years: 14.7% a year at 16.8% volatility, against 2.5% a year at 22.1%.
- Looking beyond its popular alternatives, MDLZ (packaged foods) earned more than KDP with less volatility over the past 5 years: 4.0% a year at 20.2% volatility, against 2.5% a year at 22.1%.
- Across the whole market, 621 of the 3,633 stocks and funds worth at least $500 million earned more than KDP with less volatility over the past 5 years, among them VTI, VOO and BRK-B.

The 15 strongest of 621 investments that beat KDP 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 KDP | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| KDP: Keurig Dr Pepper Inc. (this page) |  | +2.5% | 22.1% | 0.23 | −36.9% | +281% |  |  |
| [SGOV](https://easycompare.io/research/sgov): iShares 0-3 Month Treasury Bond ETF | Treasury Bonds | +3.8% | 0.3% | 13.25 | −0.3% | — | -0.07 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| JAAA: Janus Henderson AAA CLO ETF | CLO Bonds | +5.1% | 1.7% | 2.98 | −2.6% | — | 0.04 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| RSPH: Invesco S&P 500 Equal Weight Health Care ETF | Healthcare | +6.1% | 16.8% | 0.44 | −30.4% | +177% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.29 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | Pharmaceuticals | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.16 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| VRIG: Invesco Variable Rate Investment Grade ETF | Bonds | +4.7% | 1.3% | 3.51 | −13.1% | +40.5% | -0.03 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| BALT: Innovator Defined Wealth Shield ETF | Crypto | +6.3% | 3.3% | 1.85 | −4.9% | — | 0.18 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [NVS](https://easycompare.io/research/nvs): Novartis AG | Pharmaceuticals | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.27 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| FLRT: Pacer Aristotle Pacific Floating Rate High Income ETF | Financials | +6.0% | 2.3% | 2.55 | −21.0% | +58.0% | 0.16 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [TAK](https://easycompare.io/research/tak): Takeda Pharmaceutical Company Limited | Pharmaceuticals | +11.9% | 19.4% | 0.68 | −54.4% | +30.4% | -0.01 | Higher return, lower volatility; Higher return in most periods |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | Gold | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.09 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [PG](https://easycompare.io/research/pg): The Procter & Gamble Company | Household & Personal Products | +5.1% | 18.3% | 0.37 | −23.8% | +145% | 0.36 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [VIG](https://easycompare.io/research/vig): Vanguard Dividend Appreciation ETF | US Dividend Equity | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| FLOT: iShares Floating Rate Bond ETF | Floating Rate Bonds | +4.5% | 1.8% | 2.48 | −13.5% | +35.9% | -0.09 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [EP-PC](https://easycompare.io/research/ep-pc): El Paso Energy Capital Trust I PFD CV TR SECS | Preferred Stocks | +5.2% | 8.9% | 0.61 | −25.4% | +37.8% | -0.14 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |

## KDP against its popular alternatives

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

### How do KDP'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.

- Only KO was both more rewarding and calmer than KDP over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, KDP returned 2.5% a year, less than the S&P 500's 12.7%, with higher volatility (22.1% against 17.1%).

### Has KDP consistently beaten its popular alternatives?

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

- Two of the 17 popular alternatives, COKE and KOF, outperformed KDP in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- WMT, COST and MNST earned more for the risk they took than KDP (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
- WMT outperformed KDP over all three long-term periods but in none of the five short-term ones, so KDP has had the better of it lately.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of KDP | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| KDP: Keurig Dr Pepper Inc. (this page) | +28.7% | +31.9% | +13.4% | +281% |  |  | 0.23 |
| COKE: Coca-Cola Consolidated, Inc. | +61.7% | +255% | +461% | +1,569% | 3/5 short-term, 3/3 long-term | consistent | 1.10 |
| KOF: Coca-Cola FEMSA, S.A.B. de C.V. | +46.7% | +96.0% | +174% | +119% | 3/5 short-term, 2/3 long-term | consistent | 0.94 |
| [CCEP](https://easycompare.io/research/ccep): Coca-Cola Europacific Partners PLC | +28.3% | +116% | +146% | +292% | 1/5 short-term, 3/3 long-term |  | 0.90 |
| [COST](https://easycompare.io/research/cost): Costco Wholesale Corporation | +6.9% | +87.2% | +123% | +685% | 0/5 short-term, 3/3 long-term |  | 0.82 |
| [WMT](https://easycompare.io/research/wmt): Walmart Inc. | +11.0% | +130% | +158% | +508% | 0/5 short-term, 3/3 long-term |  | 0.96 |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | +40.2% | +86.8% | +98.2% | +204% | 2/5 short-term, 2/3 long-term |  | 0.91 |
| [FMX](https://easycompare.io/research/fmx): Fomento Económico Mexicano, S.A.B. de C.V. | +44.0% | +53.7% | +92.9% | +79.7% | 2/5 short-term, 2/3 long-term |  | 0.64 |
| [MNST](https://easycompare.io/research/mnst): Monster Beverage Corporation | +34.9% | +88.2% | +121% | +285% | 1/5 short-term, 2/3 long-term |  | 0.77 |
| CCK: Crown Holdings, Inc. | +22.3% | +50.9% | +14.4% | +121% | 0/5 short-term, 2/3 long-term |  | 0.24 |
| PRMB: Primo Brands Corporation | −7.8% | +64.5% | +41.2% | +79.7% | 0/5 short-term, 2/3 long-term |  | 0.38 |
| SJM: The J. M. Smucker Company | +28.1% | +29.3% | +26.7% | +37.2% | 3/5 short-term, 1/3 long-term |  | 0.32 |
| BALL: Ball Corporation | +33.6% | +51.5% | −25.9% | +78.6% | 1/5 short-term, 1/3 long-term |  | -0.04 |
| CELH: Celsius Holdings, Inc. | −53.5% | −44.5% | −4.3% | +4,120% | 0/5 short-term, 1/3 long-term |  | 0.32 |
| BROS: Dutch Bros Inc. | −21.9% | +73.0% | −28.7% | — | 0/5 short-term, 1/3 long-term |  | 0.20 |
| [SBUX](https://easycompare.io/research/sbux): Starbucks Corporation | +20.6% | +13.8% | −1.7% | +130% | 0/5 short-term, 0/3 long-term |  | 0.15 |
| FIZZ: National Beverage Corp. | +6.7% | −5.6% | −21.8% | +108% | 0/5 short-term, 0/3 long-term |  | -0.02 |
| [PEP](https://easycompare.io/research/pep): PepsiCo, Inc. | −9.2% | −6.7% | −2.3% | +72.6% | 0/5 short-term, 0/3 long-term |  | 0.07 |

### How did KDP do year by year?

This table shows each investment's total return in every full calendar year since 2009, along with where KDP ranked among its popular alternatives each year.

- KDP finished ahead of the S&P 500 in 11 of its 17 full calendar years, and behind it in each of the last three.
- Ranked against its popular alternatives each year, KDP finished in the top quarter in eight of 17 years and in the bottom quarter in two. In 2025, it ranked 16 of 18.
- Among its popular alternatives, CELH came out ahead of KDP most often, in 11 of the 17 years both traded.

| Year | KDP | SPY |
| --- | --- | --- |
| 2025 | −10.1% | +17.7% |
| 2024 | −1.1% | +24.9% |
| 2023 | −4.2% | +26.2% |
| 2022 | −1.2% | −18.2% |
| 2021 | +17.5% | +28.7% |
| 2020 | +13.1% | +18.3% |
| 2019 | +15.4% | +31.2% |
| 2018 | +70.3% | −4.6% |
| 2017 | +25.4% | +21.7% |
| 2016 | +12.7% | +12.0% |

## Risk and diversification

How KDP 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 KDP's worst declines?

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

- In all five of KDP's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: KDP fell 31.2% from August 2022 to October 2025, while the S&P 500 rose 63.5%.
- None of these declines kept KDP below its old high for long; the longest climb back took six months.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −57.3% | April 30, 2008 | March 9, 2009 | September 29, 2009 | −49.8% | 2008 financial crisis |
| −36.9% | November 27, 2019 | March 16, 2020 | July 27, 2020 | −23.6% | Covid crash |
| −31.2% | August 16, 2022 | October 6, 2025 | not yet | +63.5% | 2022 bear market |
| −18.1% | July 5, 2011 | August 10, 2011 | December 16, 2011 | −16.1% | 2011 euro debt crisis |
| −13.6% | November 9, 2018 | December 18, 2018 | February 13, 2019 | −8.2% | late-2018 sell-off |

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

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

- KDP fell less than the S&P 500 in seven of the eight crashes it has traded through. The clearest case was the 2022 bear market, when KDP fell 12.2% and the S&P 500 fell 24.5%.
- None of its popular alternatives fell less than KDP in most of the crashes they both traded through.
- KDP began trading after the 2008 financial crisis, but 16 of its popular alternatives lived through it. The mildest fall among them was WMT's 26.2%, against 55.2% for the S&P 500.

| Crash | Dates | KDP 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 | 0.0% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −13.0% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −9.7% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −1.7% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −13.6% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −33.5% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −12.2% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −1.5% | −3.4% |

### How closely does KDP 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.

- Over the past 10 years, KDP captured 59% of the S&P 500's gains in rising months and 38% of its losses in falling months, with a beta of 0.56. That is a defensive profile: it gave up some of the market's upside in exchange for smaller losses.
- Only WMT, COKE and COST had a higher capture ratio (upside capture divided by downside capture) than KDP's 1.56, out of 16 popular alternatives with the same record.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| KDP: Keurig Dr Pepper Inc. (this page) | 59.0% | 38.0% | 0.56 |
| COKE: Coca-Cola Consolidated, Inc. | 123% | 60.0% | 0.81 |
| KOF: Coca-Cola FEMSA, S.A.B. de C.V. | 63.0% | 73.0% | 0.68 |
| [CCEP](https://easycompare.io/research/ccep): Coca-Cola Europacific Partners PLC | 69.0% | 56.0% | 0.66 |
| [COST](https://easycompare.io/research/cost): Costco Wholesale Corporation | 93.0% | 50.0% | 0.77 |
| [WMT](https://easycompare.io/research/wmt): Walmart Inc. | 74.0% | 36.0% | 0.53 |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | 57.0% | 44.0% | 0.47 |
| [FMX](https://easycompare.io/research/fmx): Fomento Económico Mexicano, S.A.B. de C.V. | 50.0% | 63.0% | 0.72 |
| [MNST](https://easycompare.io/research/mnst): Monster Beverage Corporation | 87.0% | 87.0% | 0.80 |
| CCK: Crown Holdings, Inc. | 69.0% | 91.0% | 0.87 |
| PRMB: Primo Brands Corporation | 71.0% | 96.0% | 1.05 |
| SJM: The J. M. Smucker Company | 25.0% | 38.0% | 0.30 |
| BALL: Ball Corporation | 51.0% | 73.0% | 0.74 |
| CELH: Celsius Holdings, Inc. | 195% | 127% | 1.54 |
| [SBUX](https://easycompare.io/research/sbux): Starbucks Corporation | 81.0% | 107% | 0.94 |
| FIZZ: National Beverage Corp. | 73.0% | 99.0% | 0.94 |
| [PEP](https://easycompare.io/research/pep): PepsiCo, Inc. | 48.0% | 65.0% | 0.48 |

### What diversifies KDP?

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 KDP into GLD would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+0.3% for KDP alone, +4.2% for the mix).
- CLS made money in four of the four calendar years in which KDP lost money.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of KDP over the past 5 years, with correlations of 0.36 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with KDP | 5Y return | Volatility | Sharpe | Rose in KDP's 4 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.31 | +119% | 11.1% | 1.48 | 4 of 4 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.19 | +225% | 19.1% | 1.34 | 4 of 4 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.36 | +101% | 14.5% | 1.04 | 4 of 4 |
| HDV: iShares Core High Dividend ETF | 0.36 | +83.3% | 13.0% | 1.00 | 4 of 4 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.20 | +323% | 36.9% | 0.97 | 3 of 4 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.39 | +85.0% | 13.8% | 0.96 | 3 of 4 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.09 | +126% | 18.9% | 0.96 | 3 of 4 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.30 | +136% | 20.8% | 0.93 | 3 of 4 |

## Common questions

### What was KDP's worst drawdown?

KDP's deepest decline since it began trading in 2008 was 57.3%, from April 2008 to March 2009. It took six months from the low to climb back to its old high. Because KDP launched in April 2008, that record does not include the dot-com bust.

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

Over 17 full calendar years, KDP's best year was 2009, when it returned 80.1%. Its worst was 2025, with a return of -10.1%.

### Is there a better investment than KDP?

Among KDP's popular alternatives, KO earned more than KDP with less volatility over the past 5 years: 14.7% a year at 16.8% volatility, against 2.5% a year at 22.1%. Looking beyond its popular alternatives, MDLZ (packaged foods) earned more than KDP with less volatility over the past 5 years: 4.0% a year at 20.2% volatility, against 2.5% a year at 22.1%.

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

Yes. KDP's volatility over the past 5 years was 22.1%, 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, KDP's return lands within 22.1% 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 KDP's Sharpe ratio?

KDP's Sharpe ratio over the past 5 years was 0.23, against 0.79 for the S&P 500, so KDP 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 KDP with the S&P 500?

Over the past 5 years, KDP's monthly returns had a correlation of 0.31 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 KDP instead: the lower it is, the more that option would diversify a KDP holding.

### What are the best alternatives to KDP?

Of the 17 popular alternatives we compared, two outperformed KDP in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: COKE and KOF.

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

KDP finished ahead of the S&P 500 (SPY) in 11 of 17 full calendar years. In 2025, it returned -10.1%, against +17.7% for the index.

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

KDP fell less than the S&P 500 (SPY) in seven of the eight major crashes it has traded through, and further in no. The clearest case was the 2022 bear market, when KDP fell 12.2% and the S&P 500 fell 24.5%.

### What diversifies KDP?

These had a low correlation with KDP over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.31), DXJ (correlation 0.19) and EMLP (correlation 0.36); among large stocks, CAH (correlation 0.28), CLS (correlation 0.08) and FIX (correlation 0.23). 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/kdp
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against KDP live: https://betterthanspy.com/?b=KDP&utm_source=easycompare&utm_medium=research