# How Mastercard (MA) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/ma
> 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 MA alone. It places MA (Mastercard Incorporated) against 19 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 MA stands in the market, and of the alternatives worth a closer look.

Period covered: MA's full trading record, from May 2006 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:** Over the past 6 months, MA rose 20.5% against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. Its payment processing peers split over the past 6 months: FLYW (Flywire) rose 35.5%, while AXP (American Express) fell 2.9%.
- **Stock or market?:** MA held up far better than its industry: it rose 13.5% over the past 3 months while the financials sector ETF XLF (State Street Financial Select Sector SPDR ETF) fell 0.2%. The S&P 500 rose 3.9%. MA rose 9.5% last month as the S&P 500 fell 0.6% and the Nasdaq 100 fell 3.2%.
- **Past 1 to 3 years:** MA has trailed the market, rising 10.2% over the past year against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (64.3% against 89.3%). That said, MA lagged its payment processing peers in 2023, then moved up the pack in 2025.
- **Long term:** MA turned $10,000 into $64,100 over the past decade, against $42,100 in the S&P 500. On the flip side, the past 5 years only trailed the S&P 500 (79.2% against 81.7%), after a much stronger decade (541% against 321%).
- **In a crash:** Across six sell-offs, MA has typically fallen 1.2 times as far as the S&P 500. That said, in the 2022 bear market, MA held up better than AXP (American Express), PYPL and XYZ; only V (Visa) and FISV fell less.
- **Diversification:** Against the S&P 500, MA has a correlation of 0.57 over 5 years, more closely than 86% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Over 10 years, MA's beta versus the S&P 500 was 0.95: in the S&P 500's rising months it gained 1.1 times as much as the index, and in falling months it lost 88% as much.
- **Better options**
  - **Popular alternatives:** JPM (JPMorgan Chase & Co.) earned more than MA over the past 5 years with similar volatility: 17.3% a year at 24.3% volatility, against 12.4% a year at 23.8%.
  - **Nearby categories and themes:** AAPL (Apple, digital payments theme) and MSFT (Microsoft, software) were ahead of MA in most short and long periods.
  - **Whole market:** 109 of the 3,633 stocks and funds worth at least $500 million earned more than MA with less volatility over the past 5 years, among them BRK-B (Berkshire Hathaway), WMT (Walmart) and KO (Coca-Cola).

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

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

- $10,000 invested in MA at the end of September 2008 would have grown to $341,381 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 MA, and NVDA finished highest, at $9,364,421.

## MA 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.

- MA's deepest decline since it began trading in 2006 was 62.7%, from June 2008 to January 2009. It took about two years from the low to climb back to its old high.
- MA is trading within 1% of its all-time high.
- Over 19 full calendar years, MA's best was 2007, when it returned 119%, and its worst was 2008, when it lost 33.4%. It lost money in three of those years.

- Type: Stock, Financials (Financial - Credit Services)
- Trading since: May 25, 2006
- Market value: $543B
- Volatility (5 years): 23.8%; Sharpe ratio: 0.61
- Worst decline ever: −62.7%, from June 2, 2008 to January 20, 2009; back at its high by July 7, 2011

| Period | MA total return |
| --- | --- |
| 1 month | +9.5% |
| 3 months | +13.5% |
| 6 months | +20.5% |
| year to date | +10.9% |
| 1 year | +10.3% |
| 3 years | +64.3% |
| 5 years | +79.2% |
| 10 years | +541% |

## MA against the whole market

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

### How does MA rank among all stocks?

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

- MA's worst decline of the past 10 years ranks in the top 8% of the 2,187 stocks worth at least $300 million, where the top fell the least.

| Measure | MA | Rank |
| --- | --- | --- |
| 1-year return | +10.3% | 1,579 of 3,287 (top 49%) |
| 3-year return | +64.3% | 1,339 of 3,017 (top 45%) |
| 5-year return | +79.2% | 822 of 2,893 (top 29%) |
| 10-year return | +541% | 273 of 2,202 (top 13%) |
| Volatility, 5 years | 23.8% | 250 of 2,893 (top 9%) |
| Sharpe ratio, 5 years | 0.61 | 646 of 2,893 (top 23%) |
| Worst decline, past 10 years | −41.0% | 177 of 2,187 (top 9%) |

### What has beaten MA 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).

- 30 stocks and 79 ETFs worth at least $500 million sit in the green region: each earned more than MA over the past 5 years with smaller price swings. That is 3% of the 3,633 screened.
- Among those with at least half MA's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 20% less than MA's 23.8%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.61 for MA.

### Is there a better investment than MA?

The table below lists investments that beat MA 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 MA's popular alternatives, JPM earned more than MA over the past 5 years with similar volatility: 17.3% a year at 24.3% volatility, against 12.4% a year at 23.8%.
- Looking beyond its popular alternatives, AAPL (digital payments theme) and MSFT (software) were ahead of MA in most short and long periods.
- Across the whole market, 109 of the 3,633 stocks and funds worth at least $500 million earned more than MA with less volatility over the past 5 years, among them BRK-B, WMT and KO.

The 15 strongest of 109 investments that beat MA 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 MA | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| MA: Mastercard Incorporated (this page) |  | +12.4% | 23.8% | 0.61 | −41.0% | +541% |  |  |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | Food & Beverages | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.45 | Higher return, lower volatility; Higher return in most periods |
| [WMT](https://easycompare.io/research/wmt): Walmart Inc. | Discount Retail | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.64 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [TRV](https://easycompare.io/research/trv): The Travelers Companies, Inc. | Property & Casualty Insurance | +22.4% | 22.3% | 1.02 | −46.3% | +347% | 0.51 | Higher return, lower volatility; Higher return in most periods |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | International Equity | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.66 | 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% | 0.40 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | Gold | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.01 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [RSG](https://easycompare.io/research/rsg): Republic Services, Inc. | Environmental Services | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.30 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| VLUE: iShares MSCI USA Value Factor ETF | US Large-Cap Value | +15.9% | 18.4% | 0.90 | −39.5% | +286% | 0.48 | Higher return, lower volatility; Higher return in most periods |
| [DYNF](https://easycompare.io/research/dynf): iShares U.S. Equity Factor Rotation Active ETF | US Multifactor Equity | +14.7% | 17.5% | 0.87 | −34.7% | — | 0.53 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| ATO: Atmos Energy Corporation | Gas Utilities | +14.9% | 18.4% | 0.85 | −32.9% | +194% | 0.49 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| SPMO: Invesco S&P 500 Momentum ETF | US Momentum Equity | +18.7% | 20.8% | 0.93 | −30.9% | +499% | 0.40 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| DFIV: Dimensional - International Value ETF | International Equity | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.64 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| AVLV: Avantis U.S. Large Cap Value ETF | US Large-Cap Value | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.61 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| NI: NiSource Inc | Gas Utilities | +15.1% | 20.3% | 0.80 | −30.9% | +158% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |

## MA against its popular alternatives

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

### How do MA'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 V was both more rewarding and calmer than MA over the past 5 years, earning a higher annual return with lower volatility.
- 16 of the 19 popular alternatives earned less than MA over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, MA returned 12.4% a year, less than the S&P 500's 12.7%, with higher volatility (23.8% against 17.1%).

### Has MA consistently beaten its popular alternatives?

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

- Two of the 19 popular alternatives, SHOP and V, outperformed MA in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- V earned more for the risk it took than MA (a higher Sharpe ratio) and fell less in its worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of MA | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| MA: Mastercard Incorporated (this page) | +10.3% | +64.3% | +79.2% | +541% |  |  | 0.61 |
| [SHOP](https://easycompare.io/research/shop): Shopify Inc. | +5.3% | +239% | +16.6% | +3,916% | 3/5 short-term, 2/3 long-term | consistent | 0.38 |
| [V](https://easycompare.io/research/v): Visa Inc. | +19.0% | +78.2% | +82.5% | +429% | 3/5 short-term, 2/3 long-term | consistent | 0.64 |
| [XYZ](https://easycompare.io/research/xyz): Block, Inc. | +2.1% | +77.6% | −69.4% | +598% | 1/5 short-term, 2/3 long-term |  | -0.10 |
| [JPM](https://easycompare.io/research/jpm): JPMorgan Chase & Co. | +13.0% | +150% | +122% | +537% | 1/5 short-term, 2/3 long-term |  | 0.78 |
| [AXP](https://easycompare.io/research/axp): American Express Company | −7.9% | +133% | +88.5% | +446% | 0/5 short-term, 2/3 long-term |  | 0.58 |
| CPAY: Corpay, Inc. | +42.8% | +70.9% | +48.6% | +137% | 2/5 short-term, 1/3 long-term |  | 0.41 |
| PAY: Paymentus Holdings, Inc. | +12.0% | +122% | +35.0% | — | 2/5 short-term, 1/3 long-term |  | 0.41 |
| [COF](https://easycompare.io/research/cof): Capital One Financial Corporation | −4.7% | +134% | +27.0% | +222% | 0/5 short-term, 1/3 long-term |  | 0.31 |
| SOFI: SoFi Technologies, Inc. | −48.8% | +99.2% | −30.3% | — | 0/5 short-term, 1/3 long-term |  | 0.21 |
| TOST: Toast, Inc. | −13.3% | +85.7% | −35.9% | — | 0/5 short-term, 1/3 long-term |  | 0.15 |
| FLYW: Flywire Corp | +41.0% | −33.1% | −60.7% | — | 3/5 short-term, 0/3 long-term |  | -0.04 |
| RELY: Remitly Global, Inc. | +52.9% | −6.6% | −28.9% | — | 3/5 short-term, 0/3 long-term |  | 0.17 |
| WEX: WEX Inc. | +21.1% | −1.4% | −3.9% | +74.9% | 2/5 short-term, 0/3 long-term |  | 0.17 |
| GPN: Global Payments Inc. | −1.3% | −21.1% | −44.7% | +22.4% | 1/5 short-term, 0/3 long-term |  | -0.14 |
| [PYPL](https://easycompare.io/research/pypl): PayPal Holdings, Inc. | −16.5% | +8.2% | −77.6% | +44.1% | 0/5 short-term, 0/3 long-term |  | -0.47 |
| FISV: Fiserv, Inc. | −61.1% | −56.3% | −56.2% | −2.7% | 0/5 short-term, 0/3 long-term |  | -0.24 |
| EEFT: Euronet Worldwide, Inc. | −24.3% | −21.1% | −49.9% | −19.7% | 0/5 short-term, 0/3 long-term |  | -0.21 |
| FIS: Fidelity National Information Services, Inc. | −44.3% | −21.6% | −66.6% | −41.3% | 0/5 short-term, 0/3 long-term |  | -0.47 |
| FOUR: Shift4 Payments, Inc. | −46.7% | −20.1% | −47.4% | — | 0/5 short-term, 0/3 long-term |  | 0.07 |

### How did MA do year by year?

This table shows each investment's total return in every full calendar year since 2007, along with where MA ranked among its popular alternatives each year.

- Among its popular alternatives, SHOP came out ahead of MA most often, in nine of the ten years both traded.
- Ranked against its popular alternatives each year, MA finished in the top quarter in eight of 19 years and in the bottom quarter in no. In 2025, it ranked 7 of 20.
- MA finished ahead of the S&P 500 in 12 of its 19 full calendar years.

| Year | MA | SPY |
| --- | --- | --- |
| 2025 | +9.0% | +17.7% |
| 2024 | +24.2% | +24.9% |
| 2023 | +23.4% | +26.2% |
| 2022 | −2.7% | −18.2% |
| 2021 | +1.2% | +28.7% |
| 2020 | +20.2% | +18.3% |
| 2019 | +59.2% | +31.2% |
| 2018 | +25.3% | −4.6% |
| 2017 | +47.7% | +21.7% |
| 2016 | +6.9% | +12.0% |

## Risk and diversification

How MA 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 MA's worst declines?

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

- In all five of MA's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: MA fell 22.4% from April to December 2021, while the S&P 500 rose 8.6%.
- The slowest recovery came after MA fell 62.7% from June 2008 to January 2009; it did not regain that peak until July 2011, two years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −62.7% | June 2, 2008 | January 20, 2009 | July 7, 2011 | −40.9% | 2008 financial crisis |
| −41.0% | February 19, 2020 | March 23, 2020 | August 24, 2020 | −33.7% | Covid crash |
| −28.2% | February 2, 2022 | October 12, 2022 | July 3, 2023 | −21.1% | 2022 bear market |
| −24.0% | July 16, 2007 | August 15, 2007 | October 31, 2007 | −8.9% |  |
| −22.4% | April 28, 2021 | December 1, 2021 | February 2, 2022 | +8.6% |  |

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

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

- MA fell further than the S&P 500 in seven of the nine crashes it has traded through. The clearest case was the 2015 China and oil sell-off, when MA fell 20.4% and the S&P 500 fell 12.8%.
- Among its popular alternatives, V held up best, falling less than MA in seven of the eight crashes they both traded through.
- MA began trading after the dot-com bust, but five of its popular alternatives lived through it. The mildest fall among them was FISV's 51.5%, against 47.5% for the S&P 500.

| Crash | Dates | MA 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 | −62.7% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −3.1% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −13.8% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −20.4% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −5.8% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −21.9% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −41.0% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −28.2% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −4.0% | −3.4% |

### How closely does MA 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.

- None of the 13 popular alternatives with the same record had a higher capture ratio (upside capture divided by downside capture) than MA's 1.20.
- Over the past 10 years, MA captured 105% of the S&P 500's gains in rising months and 88% of its losses in falling months, with a beta of 0.95. Its share of the market's gains was larger than its share of the losses.
- V took just 79% of the S&P 500's losses, against 88% for MA, while still keeping 93% of its gains.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| MA: Mastercard Incorporated (this page) | 105% | 88.0% | 0.95 |
| [SHOP](https://easycompare.io/research/shop): Shopify Inc. | 233% | 203% | 2.09 |
| [V](https://easycompare.io/research/v): Visa Inc. | 93.0% | 79.0% | 0.87 |
| [XYZ](https://easycompare.io/research/xyz): Block, Inc. | 212% | 273% | 2.52 |
| [JPM](https://easycompare.io/research/jpm): JPMorgan Chase & Co. | 117% | 103% | 1.09 |
| [AXP](https://easycompare.io/research/axp): American Express Company | 117% | 113% | 1.16 |
| CPAY: Corpay, Inc. | 96.0% | 132% | 1.15 |
| [COF](https://easycompare.io/research/cof): Capital One Financial Corporation | 115% | 146% | 1.39 |
| WEX: WEX Inc. | 114% | 190% | 1.37 |
| GPN: Global Payments Inc. | 76.0% | 139% | 0.98 |
| [PYPL](https://easycompare.io/research/pypl): PayPal Holdings, Inc. | 106% | 186% | 1.25 |
| FISV: Fiserv, Inc. | 51.0% | 107% | 0.86 |
| EEFT: Euronet Worldwide, Inc. | 65.0% | 144% | 1.22 |
| FIS: Fidelity National Information Services, Inc. | 54.0% | 150% | 0.82 |

### What diversifies MA?

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 MA into GLD would have cut the portfolio's volatility by 18% over the past 5 years and raised its annual return (+10.3% for MA alone, +12.5% for the mix).
- Among large ETFs, DXJ, SMH and GLD have moved largely independently of MA over the past 5 years, with correlations of 0.36 or lower, and each still earned a positive 5-year return.
- GLD made money in two of the three calendar years in which MA lost money.

| Investment | Correlation with MA | 5Y return | Volatility | Sharpe | Rose in MA's 3 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.36 | +225% | 19.1% | 1.34 | 1 of 3 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.18 | +323% | 36.9% | 0.97 | 1 of 3 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.01 | +126% | 18.9% | 0.96 | 2 of 3 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.40 | +136% | 20.8% | 0.93 | 0 of 3 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.42 | +177% | 25.5% | 0.93 | 2 of 3 |
| VLUE: iShares MSCI USA Value Factor ETF | 0.48 | +109% | 18.4% | 0.90 | 0 of 3 |
| EWT: iShares MSCI Taiwan ETF | 0.19 | +153% | 24.2% | 0.89 | 1 of 3 |
| EDIV: State Street SPDR S&P Emerging Markets Dividend ETF | 0.43 | +69.9% | 13.8% | 0.84 | 0 of 3 |

## Common questions

### What was MA's worst drawdown?

MA's deepest decline since it began trading in 2006 was 62.7%, from June 2008 to January 2009. It took about two years from the low to climb back to its old high. Because MA launched in May 2006, that record does not include the dot-com bust.

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

Over 19 full calendar years, MA's best year was 2007, when it returned 119%. Its worst was 2008, with a return of -33.4%.

### Is there a better investment than MA?

Among MA's popular alternatives, JPM earned more than MA over the past 5 years with similar volatility: 17.3% a year at 24.3% volatility, against 12.4% a year at 23.8%. Looking beyond its popular alternatives, AAPL (digital payments theme) and MSFT (software) were ahead of MA in most short and long periods.

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

Yes. MA's volatility over the past 5 years was 23.8%, 1.4 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MA's return lands within 23.8% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is MA's Sharpe ratio?

MA's Sharpe ratio over the past 5 years was 0.61, against 0.79 for the S&P 500, so MA 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 MA with the S&P 500?

Over the past 5 years, MA's monthly returns had a correlation of 0.57 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 MA instead: the lower it is, the more that option would diversify a MA holding.

### What are the best alternatives to MA?

Of the 19 popular alternatives we compared, two outperformed MA in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: SHOP and V.

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

MA finished ahead of the S&P 500 (SPY) in 12 of 19 full calendar years. In 2025, it returned +9.0%, against +17.7% for the index.

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

MA fell less than the S&P 500 (SPY) in two of the nine major crashes it has traded through, and further in seven. The clearest case was the 2015 China and oil sell-off, when MA fell 20.4% and the S&P 500 fell 12.8%.

### What diversifies MA?

These had a low correlation with MA over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.36), SMH (correlation 0.18) and GLD (correlation 0.01); among large stocks, CAH (correlation 0.35), CLS (correlation 0.21) and FIX (correlation 0.18). A correlation near zero means the two have moved largely independently.

## More research

- [Shopify (SHOP) Performance, Alternatives and Market Rank](https://easycompare.io/research/shop)
- [Visa (V) Performance, Alternatives and Market Rank](https://easycompare.io/research/v)
- [Block (XYZ) Performance, Alternatives and Market Rank](https://easycompare.io/research/xyz)
- [JPMorgan Chase & Co. (JPM) Performance, Alternatives and Market Rank](https://easycompare.io/research/jpm)
- [American Express (AXP) Performance, Alternatives and Market Rank](https://easycompare.io/research/axp)
- [Capital One Financial (COF) Performance, Alternatives and Market Rank](https://easycompare.io/research/cof)
- [PayPal (PYPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/pypl)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/aapl)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)
- [Microsoft (MSFT) Performance, Alternatives and Market Rank](https://easycompare.io/research/msft)

## Explore further

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