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Relative Intelligence · Entertainment

How Live Nation Entertainment (LYV) compares with the whole market and its popular alternatives

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

Period covered: LYV's full trading record, from December 2005 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 LYV →Chart LYV vs. 17 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in LYV over the past 19 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of LYV over the same span and LYV'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 19 years rather than LYV's full 20 years, because most of its popular alternatives have not traded that long.

Choose a period

From the end of September 2007 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. 409 of the 1,798 stocks and funds worth at least $500 million that traded the whole period ended ahead of LYV; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,0002007201020132016201920222025$10,000$100,0002007201220172022
  • BKNG$469,495+4,595% total · +22.5% a year
  • GOOG$243,382+2,334% total · +18.3% a year
  • TKO$238,367+2,284% total · +18.2% a year
  • IMAX$130,478+1,205% total · +14.5% a year
  • DE$129,896+1,199% total · +14.4% a year
  • LYV$79,675+697% total · +11.5% a year
  • SPY (S&P 500)$70,725+607% total · +10.8% a year
  • DIS$37,503+275% total · +7.2% a year
  • CNK$34,031+240% total · +6.7% a year
  • SONY$28,488+185% total · +5.7% 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. 958 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of LYV; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000$60,000202120222023202420252026$0$20,000$40,000$60,000202120222023202420252026
  • SPHR$40,047+300% total · +32.0% a year
  • TKO$34,410+244% total · +28.0% a year
  • IMAX$28,873+189% total · +23.6% a year
  • MSGS$22,813+128% total · +17.9% a year
  • BATRA$21,767+118% total · +16.8% a year
  • SPOT$21,629+116% total · +16.7% a year
  • BATRK$20,038+100% total · +14.9% a year
  • CNK$19,830+98.3% total · +14.7% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • LYV$18,578+85.8% total · +13.2% a year
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LYV at a glance

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

Note: LYV began trading on December 21, 2005, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust.

The company

Market value
$41B
Industry
Entertainment
Price history from
December 2005

Returns

Past 1 year
+11.5%total return
Past 3 years
+119%+29.8% a year
Past 5 years
+74.3%+11.8% a year
Past 10 years
+538%+20.4% a year
Best calendar year
+112%2013
Worst calendar year
−60.5%2008
Losing years
5 of 20full calendar years

Risk

Volatility
34.5%typical yearly swing, 5 years
Sharpe ratio
0.50return per unit of risk, 5 years
Worst decline ever
−89.9%Feb 2007 to Mar 2009
From its all-time high
−7.2%below the peak

LYV against the whole market

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

How does LYV rank among all stocks?

This section ranks LYV 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 LYV 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.

MeasureLYVRankStanding
1-year return+11.5%1,528 of 3,287top 46%
3-year return+119%778 of 3,017top 26%
5-year return+74.3%864 of 2,893top 30%
10-year return+538%277 of 2,202top 13%
Volatility, 5 years34.5%1,105 of 2,893top 38%
Sharpe ratio, 5 years0.50938 of 2,893top 32%
Worst decline, past 10 years−61.2%930 of 2,187top 43%

What has beaten LYV 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). LYV sits where the dashed lines cross. Anything in the green box above and to the left earned more than LYV 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 LYV; faint dots are 94 more of the 421 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.

5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than LYVJPM: +17.3% a year, volatility 24.3%ABBV: +26.1% a year, volatility 23.4%MUFG: +33.2% a year, volatility 29.4%PM: +21.0% a year, volatility 23.4%MCK: +38.7% a year, volatility 25.0%APH: +33.8% a year, volatility 32.2%RTX: +18.6% a year, volatility 24.3%TD: +15.8% a year, volatility 20.0%MFG: +33.6% a year, volatility 30.6%VGT: +18.4% a year, volatility 26.0%SMFG: +33.7% a year, volatility 29.4%PH: +27.4% a year, volatility 28.8%TRV: +22.4% a year, volatility 22.3%GWW: +26.3% a year, volatility 24.9%BNS: +12.9% a year, volatility 19.9%HLT: +21.0% a year, volatility 26.8%KMI: +18.7% a year, volatility 22.5%CTAS: +16.5% a year, volatility 23.1%JCI: +17.4% a year, volatility 29.1%IX: +17.9% a year, volatility 25.4%SPMO: +18.7% a year, volatility 20.8%RS: +24.8% a year, volatility 28.1%NMR: +17.1% a year, volatility 29.9%RPRX: +13.3% a year, volatility 23.8%FFIV: +17.1% a year, volatility 30.8%SNX: +20.3% a year, volatility 30.4%RGLD: +20.6% a year, volatility 32.4%APG: +23.0% a year, volatility 31.9%EWT: +20.4% a year, volatility 24.2%CIBR: +14.1% a year, volatility 26.1%VLUE: +15.9% a year, volatility 18.4%AIQ: +14.8% a year, volatility 26.7%GRMN: +14.8% a year, volatility 31.6%NHC: +32.0% a year, volatility 28.5%FLTW: +21.8% a year, volatility 24.3%QTUM: +22.8% a year, volatility 28.1%RSPT: +16.9% a year, volatility 25.1%TT: +22.7% a year, volatility 27.7%GARP: +17.5% a year, volatility 22.5%FRDM: +17.3% a year, volatility 22.8%NIC: +19.0% a year, volatility 30.1%RY: +17.3% a year, volatility 18.2%MSI: +14.8% a year, volatility 23.6%PWB: +14.8% a year, volatility 22.2%XNTK: +16.9% a year, volatility 29.3%CASY: +29.9% a year, volatility 29.3%AGM: +14.5% a year, volatility 30.0%RBCAA: +14.8% a year, volatility 27.9%HBT: +18.9% a year, volatility 28.7%CTBI: +16.0% a year, volatility 26.0%EPU: +29.5% a year, volatility 24.9%IGPT: +14.3% a year, volatility 30.1%TRST: +15.5% a year, volatility 26.8%THFF: +15.9% a year, volatility 26.2%ORRF: +15.7% a year, volatility 28.6%FBIZ: +23.1% a year, volatility 29.4%NXTG: +16.2% a year, volatility 19.1%GVAL: +14.4% a year, volatility 18.7%RCBC: +14.6% a year, volatility 27.2%FNGS: +19.5% a year, volatility 30.3%RRBI: +15.2% a year, volatility 28.6%WELL: +26.0% a year, volatility 23.8%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%SU: +33.1% a year, volatility 32.5%TRGP: +41.8% a year, volatility 31.7%V: +12.8% a year, volatility 22.9%ING: +24.7% a year, volatility 31.1%IMO: +34.3% a year, volatility 32.0%MFC: +22.6% a year, volatility 24.0%LVHI: +17.0% a year, volatility 11.1%KO: +14.7% a year, volatility 16.8%CVX: +19.5% a year, volatility 25.2%CAT: +31.1% a year, volatility 31.9%COST: +17.4% a year, volatility 22.9%CSCO: +16.8% a year, volatility 26.1%WAB: +25.6% a year, volatility 26.2%MRK: +16.3% a year, volatility 24.8%NVS: +17.1% a year, volatility 20.7%LNG: +23.4% a year, volatility 30.2%AMGN: +19.6% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%GS: +19.6% a year, volatility 28.6%BAP: +30.8% a year, volatility 30.3%MS: +16.0% a year, volatility 28.8%TJX: +19.9% a year, volatility 22.3%GLD: +17.7% a year, volatility 18.9%SPYM: +12.8% a year, volatility 16.9%IBM: +16.6% a year, volatility 30.5%SHG: +21.0% a year, volatility 31.1%BHP: +16.6% a year, volatility 31.4%BTI: +18.7% a year, volatility 22.0%PGR: +21.3% a year, volatility 25.6%IHG: +21.4% a year, volatility 26.6%LYV: +11.8% a year, volatility 34.5%SPY (S&P 500): +12.7% a year, volatility 17.1%MSGS: +18.4% a year, volatility 25.6%BATRA: +15.3% a year, volatility 22.0%BATRK: +13.4% a year, volatility 22.6%TKO: +26.3% a year, volatility 32.7%IMAX: +20.2% a year, volatility 40.1%FWONK: +11.8% a year, volatility 27.2%GOOG: +19.0% a year, volatility 32.0%TIMB: +18.2% a year, volatility 31.6%VIV: +15.3% a year, volatility 28.8%KT: +13.1% a year, volatility 22.6%RHP: +13.1% a year, volatility 29.9%DE: +14.4% a year, volatility 29.9%FAST: +15.8% a year, volatility 24.6%CAH: +42.1% a year, volatility 24.7%AAPL: +18.5% a year, volatility 28.0%LLY: +40.7% a year, volatility 32.8%DXJ: +26.6% a year, volatility 19.1%ADI: +19.5% a year, volatility 34.1%VTI: +11.5% a year, volatility 17.5%HWM: +47.3% a year, volatility 32.5%LYVSPY (S&P 500)MSGSBATRABATRKTKOIMAXFWONKGOOGTIMBVIVRHPFASTCAHLLYDXJADIVTIHWM0.0%10.0%20.0%30.0%40.0%50.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than LYVJPM: +17.3% a year, volatility 24.3%ABBV: +26.1% a year, volatility 23.4%MUFG: +33.2% a year, volatility 29.4%PM: +21.0% a year, volatility 23.4%MCK: +38.7% a year, volatility 25.0%APH: +33.8% a year, volatility 32.2%RTX: +18.6% a year, volatility 24.3%TD: +15.8% a year, volatility 20.0%MFG: +33.6% a year, volatility 30.6%VGT: +18.4% a year, volatility 26.0%SMFG: +33.7% a year, volatility 29.4%PH: +27.4% a year, volatility 28.8%TRV: +22.4% a year, volatility 22.3%GWW: +26.3% a year, volatility 24.9%BNS: +12.9% a year, volatility 19.9%HLT: +21.0% a year, volatility 26.8%KMI: +18.7% a year, volatility 22.5%CTAS: +16.5% a year, volatility 23.1%JCI: +17.4% a year, volatility 29.1%IX: +17.9% a year, volatility 25.4%SPMO: +18.7% a year, volatility 20.8%RS: +24.8% a year, volatility 28.1%NMR: +17.1% a year, volatility 29.9%RPRX: +13.3% a year, volatility 23.8%FFIV: +17.1% a year, volatility 30.8%SNX: +20.3% a year, volatility 30.4%RGLD: +20.6% a year, volatility 32.4%APG: +23.0% a year, volatility 31.9%EWT: +20.4% a year, volatility 24.2%CIBR: +14.1% a year, volatility 26.1%VLUE: +15.9% a year, volatility 18.4%AIQ: +14.8% a year, volatility 26.7%GRMN: +14.8% a year, volatility 31.6%NHC: +32.0% a year, volatility 28.5%FLTW: +21.8% a year, volatility 24.3%QTUM: +22.8% a year, volatility 28.1%RSPT: +16.9% a year, volatility 25.1%TT: +22.7% a year, volatility 27.7%GARP: +17.5% a year, volatility 22.5%FRDM: +17.3% a year, volatility 22.8%NIC: +19.0% a year, volatility 30.1%RY: +17.3% a year, volatility 18.2%MSI: +14.8% a year, volatility 23.6%PWB: +14.8% a year, volatility 22.2%XNTK: +16.9% a year, volatility 29.3%CASY: +29.9% a year, volatility 29.3%AGM: +14.5% a year, volatility 30.0%RBCAA: +14.8% a year, volatility 27.9%HBT: +18.9% a year, volatility 28.7%CTBI: +16.0% a year, volatility 26.0%EPU: +29.5% a year, volatility 24.9%IGPT: +14.3% a year, volatility 30.1%TRST: +15.5% a year, volatility 26.8%THFF: +15.9% a year, volatility 26.2%ORRF: +15.7% a year, volatility 28.6%FBIZ: +23.1% a year, volatility 29.4%NXTG: +16.2% a year, volatility 19.1%GVAL: +14.4% a year, volatility 18.7%RCBC: +14.6% a year, volatility 27.2%FNGS: +19.5% a year, volatility 30.3%RRBI: +15.2% a year, volatility 28.6%WELL: +26.0% a year, volatility 23.8%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%SU: +33.1% a year, volatility 32.5%TRGP: +41.8% a year, volatility 31.7%V: +12.8% a year, volatility 22.9%ING: +24.7% a year, volatility 31.1%IMO: +34.3% a year, volatility 32.0%MFC: +22.6% a year, volatility 24.0%LVHI: +17.0% a year, volatility 11.1%KO: +14.7% a year, volatility 16.8%CVX: +19.5% a year, volatility 25.2%CAT: +31.1% a year, volatility 31.9%COST: +17.4% a year, volatility 22.9%CSCO: +16.8% a year, volatility 26.1%WAB: +25.6% a year, volatility 26.2%MRK: +16.3% a year, volatility 24.8%NVS: +17.1% a year, volatility 20.7%LNG: +23.4% a year, volatility 30.2%AMGN: +19.6% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%GS: +19.6% a year, volatility 28.6%BAP: +30.8% a year, volatility 30.3%MS: +16.0% a year, volatility 28.8%TJX: +19.9% a year, volatility 22.3%GLD: +17.7% a year, volatility 18.9%SPYM: +12.8% a year, volatility 16.9%IBM: +16.6% a year, volatility 30.5%SHG: +21.0% a year, volatility 31.1%BHP: +16.6% a year, volatility 31.4%BTI: +18.7% a year, volatility 22.0%PGR: +21.3% a year, volatility 25.6%IHG: +21.4% a year, volatility 26.6%LYV: +11.8% a year, volatility 34.5%SPY (S&P 500): +12.7% a year, volatility 17.1%MSGS: +18.4% a year, volatility 25.6%BATRA: +15.3% a year, volatility 22.0%BATRK: +13.4% a year, volatility 22.6%TKO: +26.3% a year, volatility 32.7%IMAX: +20.2% a year, volatility 40.1%FWONK: +11.8% a year, volatility 27.2%GOOG: +19.0% a year, volatility 32.0%TIMB: +18.2% a year, volatility 31.6%VIV: +15.3% a year, volatility 28.8%KT: +13.1% a year, volatility 22.6%RHP: +13.1% a year, volatility 29.9%DE: +14.4% a year, volatility 29.9%FAST: +15.8% a year, volatility 24.6%CAH: +42.1% a year, volatility 24.7%AAPL: +18.5% a year, volatility 28.0%LLY: +40.7% a year, volatility 32.8%DXJ: +26.6% a year, volatility 19.1%ADI: +19.5% a year, volatility 34.1%VTI: +11.5% a year, volatility 17.5%HWM: +47.3% a year, volatility 32.5%LYVSPY (S&P 500)MSGSBATRATKOIMAXGOOGVIVCAHAAPLLLYDXJVTIHWM
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than LYV?

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

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

Screen the whole market against LYV for any period in BetterThanSPYOpen these 20 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 LYV?lower diversifies moreExpenseper year
LYVLive Nation Entertainment, Inc. · this page
+11.8%34.5%0.50−61.2%+538%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.600.09%
Popular alternativesbest 6 shownThe investments people most often weigh against LYV. 8 of 17 passed at least one test.
MSGSMadison Square Garden Sports Corp. · Entertainment
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+18.4%25.6%0.79−41.6%+432%0.23—
BATRAAtlanta Braves Holdings, Inc. · Entertainment
Higher return, lower volatilityHigher Sharpe, smaller worst decline+15.3%22.0%0.76−54.2%+224%0.30—
BATRKAtlanta Braves Holdings, Inc. · Entertainment
Higher return, lower volatilityHigher Sharpe, smaller worst decline+13.4%22.6%0.67−54.9%+195%0.34—
TKOTKO Group Holdings, Inc. · Entertainment
Higher return, lower volatility+26.3%32.7%0.88−69.1%+941%0.35—
IMAXIMAX Corporation · Entertainment
Higher return in most periods+20.2%40.1%0.66−79.4%+65.3%0.07—
FWONKLiberty Media Corporation · Entertainment
Similar return, lower volatility+11.8%27.2%0.55−57.7%+244%0.39—
Same and neighboring categories, and shared themesbest 5 shownEverything else in Entertainment and the categories next to it (Internet Services, Media, Telecommunications, E-Commerce), plus LYV's specific themes. 5 of 64 passed at least one test.
GOOGAlphabet Inc. · Internet Services
Higher return, lower volatilityHigher Sharpe, smaller worst decline+19.0%32.0%0.71−44.6%+752%0.21—
TIMBTIM S.A. · Telecommunications
Higher return, lower volatilityHigher Sharpe, smaller worst decline+18.2%31.6%0.69−52.6%+112%0.14—
VIVTelefônica Brasil S.A. · Integrated Telecommunications
Higher return, lower volatility+15.3%28.8%0.64−56.6%+33.3%0.31—
KTKT Corporation · Integrated Telecommunications
Higher return, lower volatility+13.1%22.6%0.66−60.3%+84.9%0.44—
RHPRyman Hospitality Properties, Inc. · Hotel REITs · Live Entertainment theme
Higher return, lower volatility+13.1%29.9%0.56−84.6%+269%0.56—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 872 of 3,552 passed at least one test.
DEDeere & Company · Industrial Machinery
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+14.4%29.9%0.60−37.9%+755%0.38—
FASTFastenal Company · Industrial Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+15.8%24.6%0.72−30.7%+576%0.51—
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+42.1%24.7%1.55−46.1%+349%0.22—
AAPLApple Inc. · Computer Hardware
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+18.5%28.0%0.75−38.5%+1,168%0.39—
LLYEli Lilly and Company · Pharmaceuticals
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%0.01—
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%0.300.48%
ADIAnalog Devices, Inc. · Semiconductors
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+19.5%34.1%0.69−33.6%+652%0.30—
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Similar return, lower volatilityHigher Sharpe, smaller worst decline+11.5%17.5%0.71−35.0%+302%0.630.03%
What these numbers mean for LYV
Annual return
LYV returned 11.8% 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 $17,400. 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
LYV's volatility over the past 5 years was 34.5%, 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, LYV's return lands within 34.5% 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
LYV's Sharpe ratio over the past 5 years was 0.50, against 0.79 for the S&P 500, so LYV 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
LYV's worst fall from a peak to a low over the past 10 years was 61.2%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 61.2% fall takes a 158% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, LYV's monthly returns had a correlation of 0.60 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 LYV instead: the lower it is, the more that option would diversify a LYV holding. Guide: Correlation and diversification →
Show all 421 stocks and funds worth at least $500 million that earned more than LYV 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 LYVExpense
1
DEDeere & Company · Industrial Machinery
Whole market+14.4%29.9%0.60−37.9%+755%0.38—
2
FASTFastenal Company · Industrial Distribution
Whole market+15.8%24.6%0.72−30.7%+576%0.51—
3
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.22—
4
AAPLApple Inc. · Computer Hardware
Whole market+18.5%28.0%0.75−38.5%+1,168%0.39—
5
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+537%0.41—
6
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.09—
7
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.300.48%
8
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.2%29.4%1.13−54.9%+483%0.26—
9
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.17—
10
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.26—
11
APHAmphenol Corporation · Electronic Components
Whole market+33.8%32.2%1.07−37.5%+965%0.42—
12
RTXRTX Corporation · Aerospace & Defense
Whole market+18.6%24.3%0.83−52.0%+317%0.17—
13
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.40—
14
MFGMizuho Financial Group, Inc. · Banks
Whole market+33.6%30.6%1.10−45.7%+345%0.28—
15
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.540.09%
16
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+33.7%29.4%1.14−47.6%+474%0.20—
17
PHParker-Hannifin Corporation · Industrial Machinery
Whole market+27.4%28.8%0.99−54.7%+789%0.53—
18
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.24—
19
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.51—
20
BNSThe Bank of Nova Scotia · Banks
Whole market+12.9%19.9%0.71−46.9%+187%0.59—
21
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+21.0%26.8%0.85−50.8%+694%0.55—
22
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Whole market+18.7%22.5%0.88−55.1%+163%0.32—
23
CTASCintas Corporation · Business Services
Whole market+16.5%23.1%0.78−48.4%+808%0.41—
24
JCIJohnson Controls International plc · Building Products
Whole market+17.4%29.1%0.70−46.4%+426%0.53—
25
IXORIX Corporation · Diversified Financials
Whole market+17.9%25.4%0.78−42.5%+284%0.41—
26
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%0.480.13%
27
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.93−40.8%+626%0.49—
28
NMRNomura Holdings, Inc. · Capital Markets
Whole market+17.1%29.9%0.68−54.0%+179%0.36—
29
RPRXRoyalty Pharma plc · Pharmaceuticals
Whole market+13.3%23.8%0.65−49.7%—0.22—
30
FFIVF5, Inc. · Cybersecurity
Whole market+17.1%30.8%0.67−54.6%+287%0.56—
31
SNXTD Synnex Corp · Technology Distribution
Whole market+20.3%30.4%0.76−55.8%+430%0.43—
32
RGLDRoyal Gold, Inc. · Gold Mining
Whole market+20.6%32.4%0.74−49.5%+282%0.21—
33
APGAPi Group Corporation · Engineering & Construction
Whole market+23.0%31.9%0.81−49.6%—0.49—
34
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+20.4%24.2%0.89−38.9%+468%0.410.59%
35
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Whole market+14.1%26.1%0.64−33.9%+454%0.470.58%
36
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+15.9%18.4%0.90−39.5%+286%0.550.15%
37
AIQGlobal X - Artificial Intelligence & Technology ETF · Artificial Intelligence
Whole market+14.8%26.7%0.65−44.6%—0.520.68%
38
GRMNGarmin Ltd. · Computer Hardware
Whole market+14.8%31.6%0.59−54.6%+670%0.40—
39
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.28—
40
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.400.19%
41
QTUMDefiance Quantum ETF · Technology
Whole market+22.8%28.1%0.87−38.5%—0.510.40%
42
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.9%25.1%0.75−33.7%+572%0.580.40%
43
TTTrane Technologies plc · Building Products
Whole market+22.7%27.7%0.88−40.5%+955%0.34—
44
GARPiShares MSCI USA Quality GARP ETF · Broad Market
Whole market+17.5%22.5%0.83−31.4%—0.590.15%
45
FRDMFreedom 100 Emerging Markets ETF · International
Whole market+17.3%22.8%0.82−40.5%—0.420.49%
46
NICNicolet Bankshares, Inc. · Banks - Regional
Whole market+19.0%30.1%0.73−44.3%+344%0.42—
47
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.39—
48
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+14.8%23.6%0.71−32.8%+625%0.47—
49
PWBInvesco Large Cap Growth ETF · Broad Market
Whole market+14.8%22.2%0.74−32.4%+409%0.550.55%
50
MSGSMadison Square Garden Sports Corp. · Entertainment
Popular alternative+18.4%25.6%0.79−41.6%+432%0.23—
51
XNTKState Street SPDR NYSE Technology ETF · Technology
Whole market+16.9%29.3%0.68−48.3%+728%0.530.35%
52
CASYCasey's General Stores, Inc. · Convenience Stores
Whole market+29.9%29.3%1.04−36.1%+537%0.28—
53
AGMFederal Agricultural Mortgage · Financial - Credit Services
Whole market+14.5%30.0%0.60−53.3%+571%0.44—
54
RBCAARepublic Bancorp, Inc. · Banks - Regional
Whole market+14.8%27.9%0.64−44.7%+318%0.35—
55
HBTHBT Financial, Inc. · Banks - Regional
Whole market+18.9%28.7%0.75−54.0%—0.48—
56
CTBICommunity Trust Bancorp, Inc. · Banks - Regional
Whole market+16.0%26.0%0.70−43.0%+192%0.30—
57
EPUiShares MSCI Peru and Global Exposure ETF · International
Whole market+29.5%24.9%1.17−51.0%+275%0.370.59%
58
IGPTInvesco AI and Next Gen Software ETF · Technology
Whole market+14.3%30.1%0.60−50.1%+525%0.450.57%
59
TRSTTrustCo Bank Corp NY · Banks - Regional
Whole market+15.5%26.8%0.68−49.5%+126%0.30—
60
THFFFirst Financial Corporation · Banks - Regional
Whole market+15.9%26.2%0.69−42.8%+161%0.32—
61
ORRFOrrstown Financial Services, Inc. · Banks - Regional
Whole market+15.7%28.6%0.66−54.7%+180%0.33—
62
FBIZFirst Business Financial Services, Inc. · Banks - Regional
Whole market+23.1%29.4%0.85−50.2%+307%0.35—
63
NXTGFirst Trust Indxx NextG ETF · Technology
Whole market+16.2%19.1%0.89−33.6%+330%0.480.70%
64
GVALCambria Global Value ETF · International
Whole market+14.4%18.7%0.82−46.8%+173%0.220.68%
65
RCBCRiver City Bank · Banks - Regional
Whole market+14.6%27.2%0.64−45.5%+345%0.12—
66
FNGSMicroSectors FANG+ ETN · Technology
Whole market+19.5%30.3%0.74−49.0%—0.420.58%
67
RRBIRed River Bancshares, Inc. · Banks - Regional
Whole market+15.2%28.6%0.64−46.9%—0.41—
68
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.24—
69
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.30—
70
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.35—
71
SUSuncor Energy Inc. · Integrated Oil & Gas
Whole market+33.1%32.5%1.05−73.5%+295%0.04—
72
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.39—
73
VVisa Inc. · Payment Processing
Whole market+12.8%22.9%0.64−36.4%+429%0.41—
74
INGING Groep N.V. · Banks
Whole market+24.7%31.1%0.87−74.4%+339%0.08—
75
IMOImperial Oil Limited · Integrated Oil & Gas
Whole market+34.3%32.0%1.09−77.1%+430%0.19—
76
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.31—
77
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.290.40%
78
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.06—
79
CVXChevron Corporation · Integrated Oil & Gas
Whole market+19.5%25.2%0.84−55.8%+238%0.19—
80
CATCaterpillar Inc. · Industrial Machinery
Whole market+31.1%31.9%1.01−43.4%+936%0.39—
81
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.51—
82
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.42—
83
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Whole market+25.6%26.2%1.00−64.1%+264%0.44—
84
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%-0.05—
85
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.21—
86
LNGCheniere Energy, Inc. · Oil & Gas
Whole market+23.4%30.2%0.85−57.5%+616%0.18—
87
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%-0.01—
88
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.03—
89
GSThe Goldman Sachs Group, Inc. · Capital Markets
Whole market+19.6%28.6%0.77−48.8%+521%0.43—
90
BAPCredicorp Ltd. · Banks
Whole market+30.8%30.3%1.04−59.2%+298%0.38—
91
MSMorgan Stanley · Capital Markets
Whole market+16.0%28.8%0.66−51.3%+627%0.41—
92
TJXThe TJX Companies, Inc. · Specialty Retail
Whole market+19.9%22.3%0.93−42.5%+361%0.32—
93
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.110.40%
94
SPYMState Street SPDR Portfolio S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−33.9%+324%0.600.02%
95
IBMInternational Business Machines Corporation · IT Services
Whole market+16.6%30.5%0.66−41.1%+151%0.15—
96
SHGShinhan Financial Group Co., Ltd. · Banks
Whole market+21.0%31.1%0.77−64.1%+175%0.32—
97
BHPBHP Group Limited · Metals & Mining
Whole market+16.6%31.4%0.65−44.3%+398%0.29—
98
BTIBritish American Tobacco p.l.c. · Tobacco
Whole market+18.7%22.0%0.90−56.1%+98.2%0.04—
99
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%0.14—
100
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.4%26.6%0.86−59.3%+383%0.58—

LYV against its popular alternatives

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

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

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

0.0%20.0%40.0%60.0%80.0%100%120%−80.0%−60.0%−40.0%−20.0%0.0%20.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityLYV: 11.8% a year, volatility 34.5%SPY (S&P 500): 12.7% a year, volatility 17.1%MSGS: 18.4% a year, volatility 25.6%TKO: 26.3% a year, volatility 32.7%MSGE: 2.9% a year, volatility 44.9%BATRA: 15.3% a year, volatility 22.0%BATRK: 13.4% a year, volatility 22.6%ABNB: 0.8% a year, volatility 44.3%AMC: −62.4% a year, volatility 102%WMG: −6.2% a year, volatility 34.7%FWONK: 11.8% a year, volatility 27.2%FWONA: 11.8% a year, volatility 27.2%BKNG: 12.0% a year, volatility 33.2%CNK: 15.3% a year, volatility 42.3%IMAX: 20.2% a year, volatility 40.1%SPHR: 28.4% a year, volatility 52.4%SPOT: 15.9% a year, volatility 47.8%SONY: 2.9% a year, volatility 29.2%DIS: −7.5% a year, volatility 29.5%LYVSPY (S&P 500)MSGSTKOMSGEABNBAMCWMGCNKIMAXSPHRSPOTSONYDIS0.0%20.0%40.0%60.0%80.0%100%120%−80.0%−60.0%−40.0%−20.0%0.0%20.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityLYV: 11.8% a year, volatility 34.5%SPY (S&P 500): 12.7% a year, volatility 17.1%MSGS: 18.4% a year, volatility 25.6%TKO: 26.3% a year, volatility 32.7%MSGE: 2.9% a year, volatility 44.9%BATRA: 15.3% a year, volatility 22.0%BATRK: 13.4% a year, volatility 22.6%ABNB: 0.8% a year, volatility 44.3%AMC: −62.4% a year, volatility 102%WMG: −6.2% a year, volatility 34.7%FWONK: 11.8% a year, volatility 27.2%FWONA: 11.8% a year, volatility 27.2%BKNG: 12.0% a year, volatility 33.2%CNK: 15.3% a year, volatility 42.3%IMAX: 20.2% a year, volatility 40.1%SPHR: 28.4% a year, volatility 52.4%SPOT: 15.9% a year, volatility 47.8%SONY: 2.9% a year, volatility 29.2%DIS: −7.5% a year, volatility 29.5%LYVSPY (S&P 500)MSGSTKOMSGEBATRAABNBAMCWMGIMAXSPHRSONYDIS
All figures
InvestmentAnnual returnVolatility
SPHR Sphere Entertainment Co.+28.4%52.4%
TKO TKO Group Holdings, Inc.+26.3%32.7%
IMAX IMAX Corporation+20.2%40.1%
MSGS Madison Square Garden Sports Corp.+18.4%25.6%
SPOT Spotify Technology S.A.+15.9%47.8%
BATRA Atlanta Braves Holdings, Inc.+15.3%22.0%
CNK Cinemark Holdings, Inc.+15.3%42.3%
BATRK Atlanta Braves Holdings, Inc.+13.4%22.6%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
BKNG Booking Holdings Inc.+12.0%33.2%
FWONK Liberty Media Corporation+11.8%27.2%
FWONA Formula One Group+11.8%27.2%
LYV This pageLive Nation Entertainment, Inc.+11.8%34.5%
SONY Sony Group Corporation+2.9%29.2%
MSGE Madison Square Garden Entertainment Corp.+2.9%44.9%
ABNB Airbnb, Inc.+0.8%44.3%
WMG Warner Music Group Corp.−6.2%34.7%
DIS The Walt Disney Company−7.5%29.5%
AMC AMC Entertainment Holdings, Inc.−62.4%102%
Open these 19 in EasyCompare

Has LYV consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than LYV 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
LYV Live Nation Entertainment, Inc. (this page)—+3.3%−3.4%+12.0%+20.3%+11.5%+119%+74.3%+538%34.5%0.50−61.2%—$41B—
CNK QualifiedCinemark Holdings, Inc.5/5 short2/3 long+10.8%+26.0%+33.5%+72.2%+52.3%+160%+103%+16.0%42.3%0.55−83.8%—$4.7B—
MSGS QualifiedMadison Square Garden Sports Corp.4/5 short2/3 long+3.3%+3.9%+23.5%+59.7%+86.0%+139%+133%+432%25.6%0.79−41.6%—$10.0B—
IMAX QualifiedIMAX Corporation4/5 short2/3 long−3.0%+35.9%+45.9%+45.6%+61.7%+191%+151%+65.3%40.1%0.66−79.4%—$2.9B—
TKO EntertainmentTKO Group Holdings, Inc.1/5 short3/3 long−6.0%−1.3%−2.0%−12.1%−2.3%+136%+221%+941%32.7%0.88−69.1%—$13B—
SPHR EntertainmentSphere Entertainment Co.1/5 short2/3 long−22.3%−18.0%−14.0%+19.7%+78.9%+234%+249%—52.4%0.74−65.7%—$4.1B—
SPOT Internet Content & InformationSpotify Technology S.A.1/5 short2/3 long+1.8%+6.9%−2.0%−8.5%−22.1%+251%+109%—47.8%0.55−80.5%—$108B—
MSGE EntertainmentMadison Square Garden Entertainment Corp.4/5 short1/3 long−0.6%+5.3%+28.3%+48.5%+81.3%+170%+15.2%—44.9%0.32−75.9%—$3.8B—
BATRA EntertainmentAtlanta Braves Holdings, Inc.3/5 short1/3 long−3.8%−2.1%+1.9%+28.5%+29.1%+44.5%+104%+224%22.0%0.76−54.2%—$3.5B—
BATRK EntertainmentAtlanta Braves Holdings, Inc.3/5 short1/3 long−3.9%−2.1%+2.6%+25.8%+28.2%+42.2%+87.9%+195%22.6%0.67−54.9%—$3.2B—
ABNB Travel ServicesAirbnb, Inc.5/5 short0/3 long+6.1%+22.1%+23.2%+33.0%+39.1%+51.9%+4.2%—44.3%0.24−62.0%—$106B—
AMC EntertainmentAMC Entertainment Holdings, Inc.4/5 short0/3 long+6.6%+25.2%+68.3%+91.3%+11.2%−66.1%−99.2%−98.8%102%-0.46−99.9%—$2.7B—
SONY Consumer ElectronicsSony Group Corporation3/5 short0/3 long+7.3%+19.7%+18.1%−2.2%−13.2%+54.0%+15.4%+309%29.2%0.24−50.6%—$150B—
DIS EntertainmentThe Walt Disney Company2/5 short0/3 long+7.1%+15.8%+5.8%+0.6%+1.2%+39.3%−32.5%+31.7%29.5%-0.12−60.7%—$193B—
WMG EntertainmentWarner Music Group Corp.2/5 short0/3 long+13.1%+12.5%+4.0%+4.9%−3.5%+6.5%−27.2%—34.7%-0.01−54.0%—$16B—
FWONK EntertainmentLiberty Media Corporation0/5 short0/3 long−4.1%−6.8%+2.9%−5.7%−5.7%+38.2%+75.0%+244%27.2%0.55−57.7%—$23B—
FWONA EntertainmentFormula One Group0/5 short0/3 long−4.0%−7.1%+2.2%−5.0%−6.3%+42.8%+74.4%+213%27.2%0.55−60.8%—$21B—
BKNG Travel ServicesBooking Holdings Inc.0/5 short0/3 long−2.7%−8.4%−14.2%−22.5%−19.6%+52.2%+75.9%+186%33.2%0.51−47.8%—$123B—
Open these 18 in EasyCompare

How did LYV do year by year?

This table shows each investment's total return in every full calendar year since 2006, along with where LYV ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with LYV and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: LYV began trading on December 21, 2005, so the table starts with 2006, its first full calendar year, and cannot show how it fared during the dot-com bust.

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

InvestmentYears ahead of LYV20252024202320222021202020192018201720162015201420132012201120102009200820072006
LYV This pageLive Nation Entertainment, Inc.—+10.0%+38.4%+34.2%−41.7%+62.9%+2.8%+45.1%+15.7%+60.0%+8.3%−5.9%+32.1%+112%+12.0%−27.2%+34.2%+48.3%−60.5%−35.2%+71.0%
Rank among alternativesTop quarter in 7 of 208 of 188 of 186 of 1813 of 182 of 186 of 143 of 143 of 133 of 137 of 1110 of 101 of 92 of 75 of 74 of 73 of 75 of 77 of 76 of 62 of 6
SPY S&P 500State Street SPDR S&P 500 ETF9 of 20+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%
CNK Cinemark Holdings, Inc.8 of 18−24.1%+120%+62.7%−46.3%−7.4%−47.8%−1.9%+6.4%−6.4%+18.3%−3.5%+10.0%+32.3%+45.8%+11.9%+25.5%+108%−53.4%——
MSGS Madison Square Garden Sports Corp.4 of 10+14.6%+24.1%−0.8%+10.5%−5.6%+26.2%+9.9%+27.0%+22.9%+6.0%——————————
IMAX IMAX Corporation9 of 20+44.4%+70.4%+2.5%−17.8%−1.0%−11.8%+8.6%−18.8%−26.3%−11.7%+15.0%+4.8%+31.1%+22.6%−34.7%+111%+198%−34.6%+81.4%−46.7%
TKO TKO Group Holdings, Inc.10 of 20+48.9%+74.2%+23.9%+39.9%+3.6%−25.1%−12.6%+146%+69.8%+5.9%+48.8%−23.1%+120%−10.6%−30.2%+1.9%+54.5%−17.6%−3.9%+17.7%
SPHR Sphere Entertainment Co.3 of 5+136%+18.7%+63.5%−36.1%−33.0%———————————————
SPOT Spotify Technology S.A.4 of 7+29.8%+138%+138%−66.3%−25.6%+110%+31.8%—————————————
MSGE Madison Square Garden Entertainment Corp.2 of 5+51.4%+12.0%−29.3%−36.1%−33.0%———————————————
BATRA Atlanta Braves Holdings, Inc.1 of 9+4.1%−4.6%+30.9%+14.7%+15.6%−16.1%+18.9%+13.1%+7.6%———————————
BATRK Atlanta Braves Holdings, Inc.1 of 9+3.1%−3.3%+22.8%+14.7%+13.0%−15.8%+18.7%+12.0%+7.9%———————————
ABNB Airbnb, Inc.1 of 5+3.3%−3.5%+59.2%−48.6%+13.4%———————————————
AMC AMC Entertainment Holdings, Inc.2 of 12−60.8%−35.0%−85.0%−85.0%+1,183%−70.6%−37.1%−8.3%−53.3%+44.1%−5.7%+30.6%————————
SONY Sony Group Corporation6 of 20+21.7%+12.4%+24.9%−39.3%+25.6%+49.7%+41.7%+8.1%+61.1%+14.8%+20.7%+19.0%+56.6%−36.7%−48.8%+24.1%+34.2%−59.3%+27.3%+5.6%
DIS The Walt Disney Company6 of 20+3.3%+24.4%+4.3%−43.9%−14.5%+25.3%+33.5%+3.6%+4.8%+0.7%+12.9%+24.9%+55.3%+34.8%+1.6%+17.6%+43.8%−28.7%−4.6%+44.3%
WMG Warner Music Group Corp.1 of 5+1.4%−11.5%+4.4%−17.2%+15.3%———————————————
FWONK Liberty Media Corporation5 of 11+6.3%+46.8%+9.2%−5.5%+48.4%−7.3%+49.7%−10.1%+9.0%+12.4%+8.7%—————————
FWONA Formula One Group5 of 12+6.3%+45.0%+13.3%−9.9%+56.2%−13.2%+47.3%−9.2%+4.4%+13.8%+11.3%−8.8%————————
BKNG Booking Holdings Inc.13 of 20+8.6%+41.3%+76.0%−16.0%+7.7%+8.5%+19.2%−0.9%+18.5%+15.0%+11.8%−1.9%+87.3%+32.7%+17.1%+82.8%+197%−35.7%+164%+94.9%
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Risk and diversification

How LYV 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 LYV's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents LYV's five deepest drawdowns since it began trading in 2005, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Note: LYV began trading on December 21, 2005, so this list cannot include the dot-com bust. The crash tests on this page show how older funds and the S&P 500 fared through those years.

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

DuringLYV fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−89.9%−44.4%Feb 2007Mar 20092.1 yearsJul 20145.3 years
Covid crash−61.2%−29.1%Feb 2020Mar 20201 monthJan 202110 months
2022 bear market−48.2%−8.4%Feb 2022Mar 202313 monthsNov 202420 months
2015 China and oil sell-off−33.7%−11.0%Jun 2015Feb 20168 monthsFeb 201712 months
No named crash−27.8%+2.0%Sep 2025Nov 20252 monthsJun 20267 months

How did LYV do in stock market crashes?

This section measures how far LYV, 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: LYV began trading on December 21, 2005, 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 LYV.

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
LYV This pageLive Nation Entertainment, Inc.—−5.1%−41.5%−61.2%−19.6%−4.5%−29.2%−37.3%−2.4%−88.5%Not yet trading
SPY S&P 500State Street SPDR S&P 500 ETF7 of 9−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
CNK Cinemark Holdings, Inc.5 of 9−4.4%−47.8%−79.6%−15.3%−3.0%−29.2%−13.0%−2.7%−62.0%—
MSGS Madison Square Garden Sports Corp.3 of 5−3.5%−24.5%−39.0%−23.1%−5.3%—————
IMAX IMAX Corporation4 of 9−5.7%−36.5%−58.4%−31.4%−3.5%−33.9%−52.5%−8.2%−67.4%−98.0%
TKO TKO Group Holdings, Inc.7 of 9−1.8%−12.0%−39.2%−36.2%−2.1%−30.2%−14.3%0.0%−50.7%−66.0%
SPHR Sphere Entertainment Co.0 of 2−8.2%−47.1%————————
SPOT Spotify Technology S.A.2 of 4−4.2%−65.7%−20.6%−42.1%——————
MSGE Madison Square Garden Entertainment Corp.0 of 2−8.2%−47.1%————————
BATRA Atlanta Braves Holdings, Inc.4 of 5−3.9%−15.4%−52.1%−13.2%−4.3%—————
BATRK Atlanta Braves Holdings, Inc.4 of 5−4.2%−15.7%−53.1%−13.1%−4.5%—————
ABNB Airbnb, Inc.0 of 2−7.2%−52.3%————————
AMC AMC Entertainment Holdings, Inc.0 of 6−7.9%−80.1%−68.0%−39.5%−5.3%−34.3%————
SONY Sony Group Corporation5 of 9−3.8%−50.6%−22.9%−24.3%−9.7%−30.2%−32.0%−1.0%−72.3%−76.2%
DIS The Walt Disney Company6 of 9−6.8%−41.8%−39.3%−14.9%−6.8%−25.5%−28.7%−1.8%−54.9%−67.6%
WMG Warner Music Group Corp.0 of 2−4.8%−49.0%————————
FWONK Liberty Media Corporation4 of 6−3.1%−20.7%−56.3%−25.7%−12.0%−21.7%————
FWONA Formula One Group4 of 6−2.9%−19.1%−59.2%−24.5%−12.4%−23.3%————
BKNG Booking Holdings Inc.4 of 9−5.6%−39.5%−41.5%−19.1%−6.3%−33.7%−17.8%−3.2%−66.3%−98.9%
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How closely does LYV 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 LYV 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 LYV's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
LYV This pageLive Nation Entertainment, Inc.127%123%1.031.23
MSGS Madison Square Garden Sports Corp.94%75%1.251.02
TKO TKO Group Holdings, Inc.135%110%1.231.04
BATRA Atlanta Braves Holdings, Inc.74%64%1.150.85
BATRK Atlanta Braves Holdings, Inc.71%66%1.090.87
FWONK Liberty Media Corporation86%87%0.990.97
SONY Sony Group Corporation96%99%0.970.86
FWONA Formula One Group84%88%0.950.97
BKNG Booking Holdings Inc.99%123%0.811.17
IMAX IMAX Corporation70%95%0.741.02
DIS The Walt Disney Company90%162%0.561.32
CNK Cinemark Holdings, Inc.87%160%0.541.71
AMC AMC Entertainment Holdings, Inc.11%307%0.041.84
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What diversifies LYV?

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

ETFs

InvestmentCorrelation5Y returnSharpe2022201520112008200780/20 mix volatility80/20 mix annual return
LYV Live Nation Entertainment, Inc. (this page)1.00+74.3%0.50−41.7%−5.9%−27.2%−60.5%−35.2%30.6%+13.2%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.29+119%1.48+3.8%————25.1%+14.7%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.30+225%1.34+6.0%+7.7%−16.1%−20.8%−7.4%25.4%+16.6%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.46+101%1.04+10.4%−25.3%———26.0%+14.3%
SMH TechnologyVanEck Semiconductor ETF0.46+323%0.97−33.5%−0.3%+6.8%−44.7%+6.0%28.4%+18.7%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.47+85.0%0.96−5.1%+4.1%———25.6%+13.9%
GLD CommoditiesSPDR Gold Shares0.11+126%0.96−0.8%−10.7%+9.6%+4.9%+30.4%25.1%+15.2%
IOO InternationaliShares Global 100 ETF0.47+107%0.94−16.3%−1.8%−4.1%−36.1%+11.1%26.1%+14.5%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.48+136%0.93−10.4%————26.7%+15.5%

Stocks

InvestmentCorrelation5Y returnSharpe2022201520112008200780/20 mix volatility80/20 mix annual return
LYV Live Nation Entertainment, Inc. (this page)1.00+74.3%0.50−41.7%−5.9%−27.2%−60.5%−35.2%30.6%+13.2%
CAH Medical - DistributionCardinal Health, Inc.0.22+479%1.55+54.1%+12.6%+8.1%−39.6%−9.8%26.2%+18.9%
CLS Hardware, Equipment & PartsCelestica Inc.0.29+3,143%1.47+1.3%−6.0%−24.4%−20.5%−25.7%30.0%+31.3%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.35+1,636%1.46+17.0%+67.7%−17.0%−15.2%+2.1%28.9%+27.3%
MCK Medical - DistributionMcKesson Corporation0.26+413%1.44+51.8%−4.5%+11.8%−40.4%+29.7%26.3%+18.3%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.08+690%1.41+86.6%+17.4%———25.8%+21.2%
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Common questions

What was LYV's worst drawdown?

LYV's deepest decline since it began trading in 2005 was 89.9%, from February 2007 to March 2009. It took about five years from the low to climb back to its old high. Because LYV launched in December 2005, that record does not include the dot-com bust.

What were LYV's best and worst years?

Over 20 full calendar years, LYV's best year was 2013, when it returned 112%. Its worst was 2008, with a return of -60.5%.

Is there a better investment than LYV?

Among LYV's popular alternatives, MSGS, BATRA and BATRK earned more than LYV with less volatility over the past 5 years. MSGS returned 18.4% a year at 25.6% volatility, against 11.8% a year at 34.5%. Looking beyond its popular alternatives, GOOG (internet services) and TIMB (telecommunications) earned more than LYV with less volatility over the past 5 years. GOOG returned 19.0% a year at 32.0% volatility, against 11.8% a year at 34.5%.

Is LYV more volatile than the S&P 500?

Yes. LYV's volatility over the past 5 years was 34.5%, 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, LYV's return lands within 34.5% 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 LYV's Sharpe ratio?

LYV's Sharpe ratio over the past 5 years was 0.50, against 0.79 for the S&P 500, so LYV 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 LYV with the S&P 500?

Over the past 5 years, LYV's monthly returns had a correlation of 0.60 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 LYV instead: the lower it is, the more that option would diversify a LYV holding.

What are the best alternatives to LYV?

Of the 17 popular alternatives we compared, three outperformed LYV in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: CNK, MSGS and IMAX.

Did LYV outperform the S&P 500?

LYV finished ahead of the S&P 500 (SPY) in 11 of 20 full calendar years. In 2025, it returned +10.0%, against +17.7% for the index.

How did LYV do in stock market crashes?

LYV fell less than the S&P 500 (SPY) in one of the nine major crashes it has traded through, and further in seven. The clearest case was the 2008 financial crisis, when LYV fell 88.5% and the S&P 500 fell 55.2%.

What diversifies LYV?

These had a low correlation with LYV over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.29), DXJ (correlation 0.30) and EMLP (correlation 0.46); among large stocks, CAH (correlation 0.22), CLS (correlation 0.29) and FIX (correlation 0.35). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to LYV

Other stocks and ETFs