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Relative Intelligence · Restaurants

How McDonald's (MCD) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on MCD alone. It places MCD (McDonald's Corporation) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where MCD stands in the market, and of the alternatives worth a closer look.

Period covered: MCD's full trading record, from October 1986 through September 2026. 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 MCD →Chart MCD vs. 25 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in MCD over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of MCD over the same span and MCD'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.

Choose a period

From the end of September 1997 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. 315 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of MCD; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000$200,000$500,000199720022007201220172022$10,000$100,00019972004201120182025
  • DRI$533,910+5,239% total · +14.7% a year
  • SBUX$491,988+4,820% total · +14.4% a year
  • EAT$361,765+3,518% total · +13.2% a year
  • YUM$352,310+3,423% total · +13.1% a year
  • CAKE$251,736+2,417% total · +11.8% a year
  • MCD$187,146+1,771% total · +10.6% a year
  • SYY$172,022+1,620% total · +10.3% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • PEP$64,589+546% total · +6.6% a year
  • KO$60,026+500% total · +6.4% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 2,374 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of MCD; 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$50,000202120222023202420252026$0$20,000$40,000$60,000202120222023202420252026
  • EAT$39,456+295% total · +31.6% a year
  • USFD$26,605+166% total · +21.6% a year
  • CAKE$25,176+152% total · +20.3% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • KO$18,994+89.9% total · +13.7% a year
  • TXRH$18,725+87.3% total · +13.4% a year
  • DRI$15,039+50.4% total · +8.5% a year
  • QSR$13,848+38.5% total · +6.7% a year
  • YUM$12,260+22.6% total · +4.2% a year
  • MCD$10,761+7.6% total · +1.5% a year
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MCD at a glance

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

The company

Market value
$174B
Industry
Restaurants
Price history from
October 1986

Returns

Past 1 year
−17.8%total return
Past 3 years
+2.7%+0.9% a year
Past 5 years
+15.5%+2.9% a year
Past 10 years
+181%+10.9% a year
Best calendar year
+61.7%1998
Worst calendar year
−38.4%2002
Losing years
5 of 29full calendar years

Risk

Volatility
17.9%typical yearly swing, 5 years
Sharpe ratio
0.25return per unit of risk, 5 years
Worst decline ever
−73.7%Nov 1999 to Mar 2003
From its all-time high
−26.3%below the peak

MCD against the whole market

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

How does MCD rank among all stocks?

This section ranks MCD 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 MCD 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.

MeasureMCDRankStanding
1-year return−17.8%2,583 of 3,287bottom 22%
3-year return+2.7%2,285 of 3,017bottom 25%
5-year return+15.5%1,516 of 2,893bottom 49%
10-year return+181%943 of 2,202top 43%
Volatility, 5 years17.9%46 of 2,893top 2%
Sharpe ratio, 5 years0.251,695 of 2,893bottom 42%
Worst decline, past 10 years−36.9%85 of 2,187top 4%

What has beaten MCD 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). MCD sits where the dashed lines cross. Anything in the green box above and to the left earned more than MCD 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 MCD; faint dots are 92 more of the 319 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%0.0%5.0%10.0%15.0%20.0%25.0%30.0%0.0%5.0%10.0%15.0%20.0%25.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than MCDFLOT: +4.5% a year, volatility 1.8%VIG: +10.4% a year, volatility 14.1%DFAC: +11.4% a year, volatility 17.0%PJUL: +10.5% a year, volatility 8.6%FJAN: +11.1% a year, volatility 10.5%VNLA: +4.0% a year, volatility 1.1%JEPI: +7.5% a year, volatility 11.0%FLTR: +4.8% a year, volatility 2.1%FLRN: +4.5% a year, volatility 1.7%XLV: +8.4% a year, volatility 15.3%CHT: +7.7% a year, volatility 13.3%DFIV: +14.8% a year, volatility 16.4%AVLV: +14.0% a year, volatility 16.9%HYGH: +6.6% a year, volatility 7.1%TBUX: +4.1% a year, volatility 1.1%SPHQ: +12.0% a year, volatility 16.7%DFAI: +9.7% a year, volatility 16.0%BUFR: +9.9% a year, volatility 10.5%BKLN: +5.4% a year, volatility 4.5%DIVO: +11.1% a year, volatility 11.9%SRLN: +4.7% a year, volatility 3.9%XLP: +7.2% a year, volatility 13.8%FTSL: +5.0% a year, volatility 3.4%JAVA: +11.5% a year, volatility 14.5%SHYG: +4.5% a year, volatility 5.8%QYLD: +8.4% a year, volatility 15.0%DBMF: +9.8% a year, volatility 12.4%USMC: +14.1% a year, volatility 16.4%VIGI: +4.9% a year, volatility 14.5%EFAV: +7.6% a year, volatility 11.9%FTLS: +10.2% a year, volatility 10.4%PTLC: +9.5% a year, volatility 11.8%DIVI: +13.4% a year, volatility 15.5%AOR: +6.4% a year, volatility 10.7%ACWV: +6.3% a year, volatility 10.3%ACIO: +9.3% a year, volatility 11.1%SCHY: +9.5% a year, volatility 13.3%VOO: +12.8% a year, volatility 16.9%FHLC: +7.3% a year, volatility 15.4%FLBL: +5.2% a year, volatility 3.9%EWL: +7.2% a year, volatility 16.3%IHDG: +7.6% a year, volatility 14.9%FFLC: +15.7% a year, volatility 16.8%TDVG: +9.6% a year, volatility 13.8%PPH: +11.6% a year, volatility 15.8%PTNQ: +9.7% a year, volatility 14.1%FTQI: +11.5% a year, volatility 14.8%FLSP: +8.4% a year, volatility 13.4%SMIG: +6.5% a year, volatility 16.0%SIXH: +10.2% a year, volatility 10.2%HEGD: +7.9% a year, volatility 9.5%QAI: +4.1% a year, volatility 6.8%VSLU: +13.7% a year, volatility 16.2%CMDY: +9.5% a year, volatility 15.7%WTPI: +9.1% a year, volatility 12.2%SSUS: +10.5% a year, volatility 15.4%RSPH: +6.1% a year, volatility 16.8%YLD: +4.2% a year, volatility 6.4%CDC: +6.0% a year, volatility 12.5%IDUB: +5.9% a year, volatility 14.9%SCHD: +9.7% a year, volatility 14.3%VT: +10.3% a year, volatility 16.2%RSP: +8.2% a year, volatility 16.1%FNDF: +13.6% a year, volatility 16.3%VOE: +9.4% a year, volatility 15.8%HDV: +12.9% a year, volatility 13.0%FTS: +8.4% a year, volatility 16.4%USMV: +7.6% a year, volatility 12.3%SDY: +7.6% a year, volatility 14.0%SCHV: +10.2% a year, volatility 14.4%FDVV: +13.2% a year, volatility 14.6%DBEF: +13.1% a year, volatility 13.8%AQNB: +5.7% a year, volatility 11.6%FDL: +13.9% a year, volatility 14.4%JQUA: +13.6% a year, volatility 15.7%BBCA: +11.4% a year, volatility 16.7%IGF: +9.0% a year, volatility 13.9%FNDE: +9.8% a year, volatility 17.0%EMLP: +14.9% a year, volatility 14.5%GCOW: +14.1% a year, volatility 13.6%FTCS: +6.2% a year, volatility 13.2%SPLV: +5.5% a year, volatility 12.6%TXNM: +7.2% a year, volatility 14.9%FTGC: +12.9% a year, volatility 15.6%OMFL: +9.0% a year, volatility 16.4%DEM: +9.6% a year, volatility 15.5%WTV: +13.4% a year, volatility 17.0%XYLD: +7.4% a year, volatility 11.2%EQWL: +11.6% a year, volatility 15.0%DIVB: +13.9% a year, volatility 15.4%HFXI: +11.4% a year, volatility 15.3%NULV: +9.2% a year, volatility 14.2%MCD: +2.9% a year, volatility 17.9%SPY (S&P 500): +12.7% a year, volatility 17.1%KO: +14.7% a year, volatility 16.8%DRI: +12.4% a year, volatility 27.2%YUM: +5.8% a year, volatility 21.2%MNST: +17.2% a year, volatility 24.9%CCEP: +19.7% a year, volatility 23.2%KOF: +22.3% a year, volatility 24.7%MDLZ: +4.0% a year, volatility 20.2%KDP: +2.5% a year, volatility 22.1%SJM: +4.8% a year, volatility 25.1%JAAA: +5.1% a year, volatility 1.7%USFR: +4.0% a year, volatility 0.4%VRIG: +4.7% a year, volatility 1.3%BALT: +6.3% a year, volatility 3.3%FLRT: +6.0% a year, volatility 2.3%EP-PC: +5.2% a year, volatility 8.9%BRK-B: +13.4% a year, volatility 17.1%NEAR: +3.9% a year, volatility 1.4%LVHI: +17.0% a year, volatility 11.1%MCDSPY (S&P 500)KODRIYUMMNSTCCEPKOFMDLZKDPSJMJAAAUSFRBALTFLRTEP-PCBRK-BLVHI−10.0%0.0%10.0%20.0%30.0%0.0%5.0%10.0%15.0%20.0%25.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than MCDFLOT: +4.5% a year, volatility 1.8%VIG: +10.4% a year, volatility 14.1%DFAC: +11.4% a year, volatility 17.0%PJUL: +10.5% a year, volatility 8.6%FJAN: +11.1% a year, volatility 10.5%VNLA: +4.0% a year, volatility 1.1%JEPI: +7.5% a year, volatility 11.0%FLTR: +4.8% a year, volatility 2.1%FLRN: +4.5% a year, volatility 1.7%XLV: +8.4% a year, volatility 15.3%CHT: +7.7% a year, volatility 13.3%DFIV: +14.8% a year, volatility 16.4%AVLV: +14.0% a year, volatility 16.9%HYGH: +6.6% a year, volatility 7.1%TBUX: +4.1% a year, volatility 1.1%SPHQ: +12.0% a year, volatility 16.7%DFAI: +9.7% a year, volatility 16.0%BUFR: +9.9% a year, volatility 10.5%BKLN: +5.4% a year, volatility 4.5%DIVO: +11.1% a year, volatility 11.9%SRLN: +4.7% a year, volatility 3.9%XLP: +7.2% a year, volatility 13.8%FTSL: +5.0% a year, volatility 3.4%JAVA: +11.5% a year, volatility 14.5%SHYG: +4.5% a year, volatility 5.8%QYLD: +8.4% a year, volatility 15.0%DBMF: +9.8% a year, volatility 12.4%USMC: +14.1% a year, volatility 16.4%VIGI: +4.9% a year, volatility 14.5%EFAV: +7.6% a year, volatility 11.9%FTLS: +10.2% a year, volatility 10.4%PTLC: +9.5% a year, volatility 11.8%DIVI: +13.4% a year, volatility 15.5%AOR: +6.4% a year, volatility 10.7%ACWV: +6.3% a year, volatility 10.3%ACIO: +9.3% a year, volatility 11.1%SCHY: +9.5% a year, volatility 13.3%VOO: +12.8% a year, volatility 16.9%FHLC: +7.3% a year, volatility 15.4%FLBL: +5.2% a year, volatility 3.9%EWL: +7.2% a year, volatility 16.3%IHDG: +7.6% a year, volatility 14.9%FFLC: +15.7% a year, volatility 16.8%TDVG: +9.6% a year, volatility 13.8%PPH: +11.6% a year, volatility 15.8%PTNQ: +9.7% a year, volatility 14.1%FTQI: +11.5% a year, volatility 14.8%FLSP: +8.4% a year, volatility 13.4%SMIG: +6.5% a year, volatility 16.0%SIXH: +10.2% a year, volatility 10.2%HEGD: +7.9% a year, volatility 9.5%QAI: +4.1% a year, volatility 6.8%VSLU: +13.7% a year, volatility 16.2%CMDY: +9.5% a year, volatility 15.7%WTPI: +9.1% a year, volatility 12.2%SSUS: +10.5% a year, volatility 15.4%RSPH: +6.1% a year, volatility 16.8%YLD: +4.2% a year, volatility 6.4%CDC: +6.0% a year, volatility 12.5%IDUB: +5.9% a year, volatility 14.9%SCHD: +9.7% a year, volatility 14.3%VT: +10.3% a year, volatility 16.2%RSP: +8.2% a year, volatility 16.1%FNDF: +13.6% a year, volatility 16.3%VOE: +9.4% a year, volatility 15.8%HDV: +12.9% a year, volatility 13.0%FTS: +8.4% a year, volatility 16.4%USMV: +7.6% a year, volatility 12.3%SDY: +7.6% a year, volatility 14.0%SCHV: +10.2% a year, volatility 14.4%FDVV: +13.2% a year, volatility 14.6%DBEF: +13.1% a year, volatility 13.8%AQNB: +5.7% a year, volatility 11.6%FDL: +13.9% a year, volatility 14.4%JQUA: +13.6% a year, volatility 15.7%BBCA: +11.4% a year, volatility 16.7%IGF: +9.0% a year, volatility 13.9%FNDE: +9.8% a year, volatility 17.0%EMLP: +14.9% a year, volatility 14.5%GCOW: +14.1% a year, volatility 13.6%FTCS: +6.2% a year, volatility 13.2%SPLV: +5.5% a year, volatility 12.6%TXNM: +7.2% a year, volatility 14.9%FTGC: +12.9% a year, volatility 15.6%OMFL: +9.0% a year, volatility 16.4%DEM: +9.6% a year, volatility 15.5%WTV: +13.4% a year, volatility 17.0%XYLD: +7.4% a year, volatility 11.2%EQWL: +11.6% a year, volatility 15.0%DIVB: +13.9% a year, volatility 15.4%HFXI: +11.4% a year, volatility 15.3%NULV: +9.2% a year, volatility 14.2%MCD: +2.9% a year, volatility 17.9%SPY (S&P 500): +12.7% a year, volatility 17.1%KO: +14.7% a year, volatility 16.8%DRI: +12.4% a year, volatility 27.2%YUM: +5.8% a year, volatility 21.2%MNST: +17.2% a year, volatility 24.9%CCEP: +19.7% a year, volatility 23.2%KOF: +22.3% a year, volatility 24.7%MDLZ: +4.0% a year, volatility 20.2%KDP: +2.5% a year, volatility 22.1%SJM: +4.8% a year, volatility 25.1%JAAA: +5.1% a year, volatility 1.7%USFR: +4.0% a year, volatility 0.4%VRIG: +4.7% a year, volatility 1.3%BALT: +6.3% a year, volatility 3.3%FLRT: +6.0% a year, volatility 2.3%EP-PC: +5.2% a year, volatility 8.9%BRK-B: +13.4% a year, volatility 17.1%NEAR: +3.9% a year, volatility 1.4%LVHI: +17.0% a year, volatility 11.1%MCDSPY (S&P 500)KOYUMMNSTCCEPKOFKDPSJMJAAAUSFRBALTFLRTEP-PCBRK-BNEARLVHI
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region
  • 3 with more than 1.6× MCD's volatility are in the table only

Is there a better investment than MCD?

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

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

Screen the whole market against MCD for any period in BetterThanSPYOpen these 21 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 MCD?lower diversifies moreExpenseper year
MCDMcDonald's Corporation · this page
+2.9%17.9%0.25−36.9%+181%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.380.09%
Popular alternativesbest 6 shownThe investments people most often weigh against MCD. 9 of 23 passed at least one test.
KOThe Coca-Cola Company · Food & Beverages
Higher return, lower volatilityHigher return in most periods+14.7%16.8%0.91−37.0%+204%0.60—
USFDUS Foods Holding Corp. · Food Distribution
Higher return in most periods+22.7%29.8%0.84−77.3%+347%0.42—
EATBrinker International, Inc. · Restaurants
Higher return in most periods+34.6%48.8%0.86−84.9%+337%0.19—
DRIDarden Restaurants, Inc. · Restaurants
Higher return in most periods+12.4%27.2%0.57−72.8%+361%0.57—
YUMYum! Brands, Inc. · Restaurants
Higher return in most periods+5.8%21.2%0.37−52.2%+192%0.68—
TXRHTexas Roadhouse, Inc. · Restaurants
Higher return in most periods+15.9%30.4%0.64−58.0%+405%0.40—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Restaurants and the categories next to it (Food Distribution, Food & Beverages, Packaged Foods, Online Delivery), plus MCD's specific themes. 6 of 24 passed at least one test.
MNSTMonster Beverage Corporation · Food & Beverages
Higher Sharpe, smaller worst declineHigher return in most periods+17.2%24.9%0.77−30.4%+285%0.48—
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Higher return in most periods+19.7%23.2%0.90−48.8%+292%0.60—
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Higher return in most periods+22.3%24.7%0.94−55.1%+119%0.50—
MDLZMondelez International, Inc. · Packaged Foods
Higher return in most periods+4.0%20.2%0.29−29.8%+93.4%0.65—
KDPKeurig Dr Pepper Inc. · Food & Beverages
Higher return in most periods+2.5%22.1%0.23−36.9%+281%0.38—
SJMThe J. M. Smucker Company · Packaged Foods
Higher return in most periods+4.8%25.1%0.32−38.1%+37.2%0.51—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,035 of 3,588 passed at least one test.
JAAAJanus Henderson AAA CLO ETF · CLO Bonds
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+5.1%1.7%2.98−2.6%—-0.080.20%
USFRWisdomTree Floating Rate Treasury Fund · Treasury Bonds
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+4.0%0.4%9.69−0.8%+28.2%-0.150.15%
VRIGInvesco Variable Rate Investment Grade ETF · Bonds
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+4.7%1.3%3.51−13.1%+40.5%-0.010.30%
BALTInnovator Defined Wealth Shield ETF · Crypto
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+6.3%3.3%1.85−4.9%—0.350.69%
FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Financials
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+6.0%2.3%2.55−21.0%+58.0%0.130.60%
EP-PCEl Paso Energy Capital Trust I PFD CV TR SECS · Preferred Stocks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+5.2%8.9%0.61−25.4%+37.8%0.09—
BRK-BBerkshire Hathaway Inc. · Insurance
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+13.4%17.1%0.82−29.6%+274%0.53—
NEARiShares Short Duration Bond Active ETF · Short-Term Bonds
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+3.9%1.4%2.71−9.6%+31.8%0.380.25%
What these numbers mean for MCD
Annual return
MCD returned 2.9% 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 $11,600. 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
MCD's volatility over the past 5 years was 17.9%, 1.0 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MCD's return lands within 17.9% 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
MCD's Sharpe ratio over the past 5 years was 0.25, against 0.79 for the S&P 500, so MCD 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
MCD's worst fall from a peak to a low over the past 10 years was 36.9%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 36.9% fall takes a 58.5% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, MCD's monthly returns had a correlation of 0.38 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 MCD instead: the lower it is, the more that option would diversify a MCD holding. Guide: Correlation and diversification →
Show all 319 stocks and funds worth at least $500 million that earned more than MCD 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 MCDExpense
1
JAAAJanus Henderson AAA CLO ETF · CLO Bonds
Whole market+5.1%1.7%2.98−2.6%—-0.080.20%
2
USFRWisdomTree Floating Rate Treasury Fund · Treasury Bonds
Whole market+4.0%0.4%9.69−0.8%+28.2%-0.150.15%
3
VRIGInvesco Variable Rate Investment Grade ETF · Bonds
Whole market+4.7%1.3%3.51−13.1%+40.5%-0.010.30%
4
BALTInnovator Defined Wealth Shield ETF · Crypto
Whole market+6.3%3.3%1.85−4.9%—0.350.69%
5
FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Financials
Whole market+6.0%2.3%2.55−21.0%+58.0%0.130.60%
6
FLOTiShares Floating Rate Bond ETF · Floating Rate Bonds
Whole market+4.5%1.8%2.48−13.5%+35.9%-0.040.15%
7
VIGVanguard Dividend Appreciation ETF · US Dividend Equity
Whole market+10.4%14.1%0.78−31.7%+258%0.580.04%
8
EP-PCEl Paso Energy Capital Trust I PFD CV TR SECS · Preferred Stocks
Whole market+5.2%8.9%0.61−25.4%+37.8%0.09—
9
DFACDimensional - US Core Equity 2 ETF · US Total Market
Whole market+11.4%17.0%0.72−23.1%—0.430.21%
10
PJULInnovator U.S. Equity Power Buffer ETF · Broad Market
Whole market+10.5%8.6%1.20−18.2%—0.410.79%
11
FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset
Whole market+11.1%10.5%1.05−13.6%—0.360.85%
12
VNLAJanus Henderson Short Duration Income ETF · Bonds
Whole market+4.0%1.1%3.77−4.5%—0.230.25%
13
JEPIJPMorgan Equity Premium Income ETF · Equity Income
Whole market+7.5%11.0%0.71−13.7%—0.640.35%
14
FLTRVanEck IG Floating Rate ETF · Multi-Asset
Whole market+4.8%2.1%2.20−17.8%+41.8%-0.070.14%
15
FLRNState Street SPDR Bloomberg Investment Grade Floating Rate ETF · Bonds
Whole market+4.5%1.7%2.58−14.7%+35.9%0.030.15%
16
XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity
Whole market+8.4%15.3%0.60−28.4%+202%0.540.08%
17
CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications
Whole market+7.7%13.3%0.63−23.8%+101%0.09—
18
DFIVDimensional - International Value ETF · International Equity
Whole market+14.8%16.4%0.93−25.4%—0.490.27%
19
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Whole market+14.0%16.9%0.86−19.5%—0.460.15%
20
HYGHiShares Interest Rate Hedged High Yield Bond ETF · Bonds
Whole market+6.6%7.1%0.94−23.9%+74.5%0.391.12%
21
TBUXT. Rowe Price Ultra Short-Term Bond ETF · Bonds
Whole market+4.1%1.1%3.85−1.8%—0.130.17%
22
SPHQInvesco S&P 500 Quality ETF · US Quality Equity
Whole market+12.0%16.7%0.76−31.6%+300%0.460.20%
23
DFAIDimensional - International Core Equity Market ETF · Developed International Equity
Whole market+9.7%16.0%0.66−27.4%—0.530.18%
24
BUFRFT Vest Laddered Buffer ETF · Buffered Equity
Whole market+9.9%10.5%0.96−13.7%—0.420.10%
25
BKLNInvesco Senior Loan ETF · Bank Loans
Whole market+5.4%4.5%1.19−24.1%+50.7%0.320.67%
26
DIVOAmplify CWP Enhanced Dividend Income ETF · Equity Income
Whole market+11.1%11.9%0.95−30.0%—0.590.56%
27
SRLNState Street Blackstone Senior Loan ETF · Bank Loans
Whole market+4.7%3.9%1.18−22.3%+54.2%0.210.70%
28
XLPState Street Consumer Staples Select Sector SPDR ETF · Consumer Staples
Whole market+7.2%13.8%0.57−24.5%+121%0.760.08%
29
FTSLFirst Trust Senior Loan Fund · Bonds
Whole market+5.0%3.4%1.49−22.7%+52.1%0.260.70%
30
JAVAJPMorgan Active Value ETF · US Large-Cap Value
Whole market+11.5%14.5%0.82−16.5%——0.44%
31
SHYGiShares 0-5 Year High Yield Corporate Bond ETF · High Yield Bonds
Whole market+4.5%5.8%0.79−19.3%+56.4%0.500.30%
32
QYLDGlobal X - Nasdaq 100 Covered Call ETF · Equity Income
Whole market+8.4%15.0%0.62−24.7%+156%0.250.60%
33
DBMFiMGP DBi Managed Futures Strategy ETF · Alternatives
Whole market+9.8%12.4%0.82−20.4%—-0.230.85%
34
USMCPrincipal U.S. Mega-Cap ETF · Broad Market
Whole market+14.1%16.4%0.89−30.0%—0.360.12%
35
VIGIVanguard International Dividend Appreciation ETF · International Equity
Whole market+4.9%14.5%0.40−31.0%+122%0.550.07%
36
EFAViShares MSCI EAFE Min Vol Factor ETF · International Equity
Whole market+7.6%11.9%0.68−27.6%+97.7%0.590.20%
37
FTLSFirst Trust Long/Short Equity ETF · Broad Market
Whole market+10.2%10.4%0.99−20.6%+158%0.340.95%
38
PTLCPacer Trendpilot US Large Cap ETF · Broad Market
Whole market+9.5%11.8%0.83−26.6%+188%0.200.60%
39
DIVIFranklin International Core Dividend Tilt Index ETF · International
Whole market+13.4%15.5%0.89−27.7%+184%0.530.09%
40
AORiShares Core 60/40 Balanced Allocation ETF · Multi-Asset
Whole market+6.4%10.7%0.64−23.0%+118%0.450.20%
41
ACWViShares MSCI Global Min Vol Factor ETF · International
Whole market+6.3%10.3%0.65−28.8%+116%0.660.20%
42
ACIOAptus Collared Income Opportunity ETF · Dividend & Income
Whole market+9.3%11.1%0.86−14.2%—0.370.79%
43
SCHYSchwab International Dividend Equity ETF · International
Whole market+9.5%13.3%0.75−24.0%—0.600.08%
44
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.380.03%
45
FHLCFidelity MSCI Health Care Index ETF · Healthcare
Whole market+7.3%15.4%0.53−28.8%+199%0.510.08%
46
FLBLFranklin Senior Loan ETF · Bonds
Whole market+5.2%3.9%1.35−19.5%—0.180.45%
47
EWLiShares MSCI Switzerland ETF · Broad Market
Whole market+7.2%16.3%0.51−29.0%+160%0.570.50%
48
IHDGWisdomTree International Hedged Quality Dividend Growth Fund · International
Whole market+7.6%14.9%0.57−29.2%+163%0.470.58%
49
FFLCFidelity Fundamental Large Cap Core ETF · Broad Market
Whole market+15.7%16.8%0.95−19.7%—0.380.38%
50
TDVGT. Rowe Price Dividend Growth ETF · Dividend & Income
Whole market+9.6%13.8%0.73−19.2%—0.580.50%
51
PPHVanEck Pharmaceutical ETF · Healthcare
Whole market+11.6%15.8%0.78−29.7%+153%0.560.36%
52
PTNQPacer Trendpilot 100 ETF · Technology
Whole market+9.7%14.1%0.73−28.1%+305%0.090.65%
53
FTQIFirst Trust Nasdaq BuyWrite Income ETF · Dividend & Income
Whole market+11.5%14.8%0.82−19.4%+121%0.240.75%
54
FLSPFranklin Systematic Style Premia ETF · Alternatives
Whole market+8.4%13.4%0.68−22.9%—0.120.65%
55
SMIGBahl & Gaynor Small/Mid Cap Income Growth ETF · Dividend & Income
Whole market+6.5%16.0%0.48−19.7%—0.580.60%
56
SIXHETC 6 Meridian Hedged Equity Index Option ETF · Broad Market
Whole market+10.2%10.2%1.00−11.7%—0.630.31%
57
HEGDSwan Hedged Equity US Large Cap ETF · Broad Market
Whole market+7.9%9.5%0.85−14.5%—0.360.88%
58
QAINYLI Hedge Multi-Strategy Tracker ETF · Alternatives
Whole market+4.1%6.8%0.64−14.9%+44.1%0.340.75%
59
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.580.40%
60
VSLUApplied Finance Valuation Large Cap ETF · Broad Market
Whole market+13.7%16.2%0.88−23.8%—0.420.49%
61
CMDYiShares Bloomberg Roll Select Commodity Strategy ETF · Commodities
Whole market+9.5%15.7%0.66−31.2%—0.040.29%
62
WTPIWisdomTree Equity Premium Income Fund · Alternatives
Whole market+9.1%12.2%0.78−28.4%+121%0.340.44%
63
SSUSStrategy Shares Day Hagan Smart Sector ETF · Broad Market
Whole market+10.5%15.4%0.73−23.8%—0.310.77%
64
RSPHInvesco S&P 500 Equal Weight Health Care ETF · Healthcare
Whole market+6.1%16.8%0.44−30.4%+177%0.530.40%
65
YLDPrincipal Active High Yield ETF · Bonds
Whole market+4.2%6.4%0.67−28.3%+62.1%0.480.39%
66
CDCVictoryShares US EQ Income Enhanced Volatility Wtd ETF · Dividend & Income
Whole market+6.0%12.5%0.53−21.4%+168%0.540.38%
67
IDUBAptus International Enhanced Yield ETF · International
Whole market+5.9%14.9%0.46−29.2%—0.410.44%
68
SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity
Whole market+9.7%14.3%0.72−33.4%+252%0.590.06%
69
VTVanguard Total World Stock ETF · Global Equity
Whole market+10.3%16.2%0.69−34.2%+223%0.420.06%
70
RSPInvesco S&P 500 Equal Weight ETF · US Large-Cap Equity
Whole market+8.2%16.1%0.57−39.0%+211%0.550.20%
71
FNDFSchwab Fundamental International Large Company Index ETF · International Equity
Whole market+13.6%16.3%0.87−40.2%+194%0.500.25%
72
VOEVanguard Morningstar Mid-Cap Value ETF · US Mid-Cap Equity
Whole market+9.4%15.8%0.65−43.2%+182%0.570.05%
73
HDViShares Core High Dividend ETF · US Dividend Equity
Whole market+12.9%13.0%1.00−37.0%+172%0.650.08%
74
FTSFortis Inc. · Electric Utilities
Whole market+8.4%16.4%0.58−34.3%+154%0.64—
75
USMViShares MSCI USA Min Vol Factor ETF · US Low-Volatility Equity
Whole market+7.6%12.3%0.66−33.1%+176%0.640.15%
76
SDYState Street SPDR S&P Dividend ETF · US Dividend Equity
Whole market+7.6%14.0%0.59−36.7%+157%0.680.35%
77
SCHVSchwab U.S. Large-Cap Value ETF · US Large-Cap Value
Whole market+10.2%14.4%0.75−37.1%+195%0.540.04%
78
FDVVFidelity High Dividend ETF · US Dividend Equity
Whole market+13.2%14.6%0.92−40.2%+253%0.510.15%
79
DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity
Whole market+13.1%13.8%0.96−32.5%+206%0.490.35%
80
AQNBAlgonquin Power & Utilities Corp. · Junior Subordinated Debt
Whole market+5.7%11.6%0.54−42.7%—-0.16—
81
FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity
Whole market+13.9%14.4%0.98−41.4%+199%0.630.43%
82
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Whole market+13.6%15.7%0.89−32.9%—0.460.12%
83
BBCAJPMorgan BetaBuilders Canada ETF · International Equity
Whole market+11.4%16.7%0.73−42.8%—0.530.19%
84
KOThe Coca-Cola Company · Food & Beverages
Popular alternative+14.7%16.8%0.91−37.0%+204%0.60—
85
IGFiShares Global Infrastructure ETF · Infrastructure Equity
Whole market+9.0%13.9%0.69−42.1%+113%0.600.37%
86
FNDESchwab Fundamental Emerging Markets Large Company Index ETF · Emerging Markets Equity
Whole market+9.8%17.0%0.64−39.9%+151%0.290.39%
87
EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure
Whole market+14.9%14.5%1.04−43.6%+150%0.520.95%
88
GCOWPacer Global Cash Cows Dividend ETF · International
Whole market+14.1%13.6%1.04−37.6%+168%0.580.60%
89
FTCSFirst Trust Capital Strength ETF · US Quality Equity
Whole market+6.2%13.2%0.52−31.9%+188%0.680.53%
90
SPLVInvesco S&P 500 Low Volatility ETF · US Low-Volatility Equity
Whole market+5.5%12.6%0.49−36.3%+129%0.720.25%
91
TXNMTXNM Energy, Inc. · Electric Utilities
Whole market+7.2%14.9%0.54−46.4%+150%0.14—
92
FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives
Whole market+12.9%15.6%0.86−35.9%+139%0.020.98%
93
OMFLInvesco Russell 1000 Dynamic Multifactor ETF · US Multifactor Equity
Whole market+9.0%16.4%0.61−33.2%—0.450.29%
94
DEMWisdomTree Emerging Markets High Dividend Fund · International Equity
Whole market+9.6%15.5%0.67−37.8%+133%0.200.63%
95
WTVWisdomTree U.S. Value Fund · Broad Market
Whole market+13.4%17.0%0.83−42.2%+303%0.490.12%
96
XYLDGlobal X - S&P 500 Covered Call ETF · International
Whole market+7.4%11.2%0.70−33.4%+128%0.410.60%
97
EQWLInvesco S&P 100 Equal Weight ETF · Broad Market
Whole market+11.6%15.0%0.81−34.3%+291%0.530.30%
98
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.490.05%
99
HFXINYLI FTSE International Equity Currency Neutral ETF · International
Whole market+11.4%15.3%0.79−32.4%+180%0.480.19%
100
NULVNuveen ESG Large-Cap Value · Broad Market
Whole market+9.2%14.2%0.69−37.0%—0.530.26%

MCD against its popular alternatives

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

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

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

10.0%20.0%30.0%40.0%50.0%60.0%70.0%−40.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityMCD: 2.9% a year, volatility 17.9%SPY (S&P 500): 12.7% a year, volatility 17.1%KO: 14.7% a year, volatility 16.8%SBUX: −0.4% a year, volatility 31.9%SHAK: −1.2% a year, volatility 52.2%WING: −3.7% a year, volatility 52.8%CMG: −4.0% a year, volatility 35.1%BROS: −6.5% a year, volatility 61.8%YUMC: −4.2% a year, volatility 37.3%PEP: −0.5% a year, volatility 19.1%BLMN: −11.2% a year, volatility 58.6%DIN: −13.4% a year, volatility 44.3%LW: 0.6% a year, volatility 38.0%DPZ: −5.8% a year, volatility 30.2%WEN: −18.0% a year, volatility 36.5%JACK: −33.3% a year, volatility 52.1%PZZA: −29.1% a year, volatility 43.1%DRI: 12.4% a year, volatility 27.2%USFD: 22.7% a year, volatility 29.8%YUM: 5.8% a year, volatility 21.2%CAKE: 25.8% a year, volatility 39.9%TXRH: 15.9% a year, volatility 30.4%EAT: 34.6% a year, volatility 48.8%QSR: 8.0% a year, volatility 23.1%SYY: 3.5% a year, volatility 23.6%MCDSPY (S&P 500)KOSBUXSHAKWINGCMGBROSYUMCPEPBLMNDINLWDPZWENJACKPZZADRIUSFDYUMCAKETXRHEATSYY10.0%20.0%30.0%40.0%50.0%60.0%70.0%−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 volatilityMCD: 2.9% a year, volatility 17.9%SPY (S&P 500): 12.7% a year, volatility 17.1%KO: 14.7% a year, volatility 16.8%SBUX: −0.4% a year, volatility 31.9%SHAK: −1.2% a year, volatility 52.2%WING: −3.7% a year, volatility 52.8%CMG: −4.0% a year, volatility 35.1%BROS: −6.5% a year, volatility 61.8%YUMC: −4.2% a year, volatility 37.3%PEP: −0.5% a year, volatility 19.1%BLMN: −11.2% a year, volatility 58.6%DIN: −13.4% a year, volatility 44.3%LW: 0.6% a year, volatility 38.0%DPZ: −5.8% a year, volatility 30.2%WEN: −18.0% a year, volatility 36.5%JACK: −33.3% a year, volatility 52.1%PZZA: −29.1% a year, volatility 43.1%DRI: 12.4% a year, volatility 27.2%USFD: 22.7% a year, volatility 29.8%YUM: 5.8% a year, volatility 21.2%CAKE: 25.8% a year, volatility 39.9%TXRH: 15.9% a year, volatility 30.4%EAT: 34.6% a year, volatility 48.8%QSR: 8.0% a year, volatility 23.1%SYY: 3.5% a year, volatility 23.6%MCDSPY (S&P 500)KOSBUXSHAKWINGCMGBROSYUMCPEPBLMNDINLWDPZWENJACKPZZAUSFDCAKEEATQSRSYY
All figures
InvestmentAnnual returnVolatility
EAT Brinker International, Inc.+34.6%48.8%
CAKE The Cheesecake Factory Incorporated+25.8%39.9%
USFD US Foods Holding Corp.+22.7%29.8%
TXRH Texas Roadhouse, Inc.+15.9%30.4%
KO The Coca-Cola Company+14.7%16.8%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
DRI Darden Restaurants, Inc.+12.4%27.2%
QSR Restaurant Brands International Inc.+8.0%23.1%
YUM Yum! Brands, Inc.+5.8%21.2%
SYY Sysco Corporation+3.5%23.6%
MCD This pageMcDonald's Corporation+2.9%17.9%
LW Lamb Weston Holdings, Inc.+0.6%38.0%
SBUX Starbucks Corporation−0.4%31.9%
PEP PepsiCo, Inc.−0.5%19.1%
SHAK Shake Shack Inc.−1.2%52.2%
WING Wingstop Inc.−3.7%52.8%
CMG Chipotle Mexican Grill, Inc.−4.0%35.1%
YUMC Yum China Holdings, Inc.−4.2%37.3%
DPZ Domino's Pizza, Inc.−5.8%30.2%
BROS Dutch Bros Inc.−6.5%61.8%
BLMN Bloomin' Brands, Inc.−11.2%58.6%
DIN Dine Brands Global, Inc.−13.4%44.3%
WEN The Wendy's Company−18.0%36.5%
PZZA Papa John's International, Inc.−29.1%43.1%
JACK Jack in the Box Inc.−33.3%52.1%
Open these 25 in EasyCompare

Has MCD consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than MCD 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
MCD McDonald's Corporation (this page)—−0.5%−7.2%−18.6%−17.1%−17.8%+2.7%+15.5%+181%17.9%0.25−36.9%—$174B—
DRI QualifiedDarden Restaurants, Inc.5/5 short3/3 longAll-weather+4.0%+12.8%+9.8%+20.1%+19.7%+70.6%+79.7%+361%27.2%0.57−72.8%—$25B—
USFD QualifiedUS Foods Holding Corp.5/5 short3/3 longAll-weather+9.3%+8.4%+10.4%+38.0%+35.0%+178%+178%+347%29.8%0.84−77.3%—$22B—
KO QualifiedThe Coca-Cola Company5/5 short3/3 longAll-weather+7.3%+14.5%+25.4%+37.9%+40.2%+86.8%+98.2%+204%16.8%0.91−37.0%—$402B—
YUM QualifiedYum! Brands, Inc.5/5 short3/3 longAll-weather+8.8%+3.4%−5.4%+2.2%+4.3%+34.0%+32.5%+192%21.2%0.37−52.2%—$41B—
CAKE QualifiedThe Cheesecake Factory Incorporated5/5 short3/3 longAll-weather+17.1%+35.6%+88.8%+123%+118%+305%+216%+187%39.9%0.78−75.6%—$5.8B—
TXRH QualifiedTexas Roadhouse, Inc.4/5 short3/3 longAll-weather+2.2%−13.5%+4.1%0.0%−3.9%+84.4%+109%+405%30.4%0.64−58.0%—$11B—
EAT QualifiedBrinker International, Inc.4/5 short3/3 longAll-weather−2.5%+0.2%+23.4%+28.9%+50.5%+492%+342%+337%48.8%0.86−84.9%—$8.2B—
QSR QualifiedRestaurant Brands International Inc.5/5 short2/3 long+3.5%+2.5%−3.1%+13.8%+14.9%+27.3%+46.8%+127%23.1%0.45−63.0%—$26B—
SYY QualifiedSysco Corporation5/5 short2/3 long+6.4%+3.3%+10.2%+16.6%+6.7%+37.6%+18.7%+126%23.6%0.27−63.4%—$41B—
SBUX RestaurantsStarbucks Corporation5/5 short1/3 long+4.7%−4.6%+1.6%+20.5%+20.6%+13.8%−1.7%+130%31.9%0.15−43.7%—$113B—
SHAK RestaurantsShake Shack Inc.3/5 short1/3 long+22.4%+22.4%−33.4%−16.4%−24.7%+27.0%−5.7%+115%52.2%0.24−70.9%—$2.8B—
CAVA RestaurantsCAVA Group, Inc.3/5 short1/3 long+10.5%−9.5%−41.0%−5.1%−7.8%+74.1%————−71.1%—$6.7B—
WING RestaurantsWingstop Inc.1/5 short1/3 long+21.4%−7.4%−34.2%−48.9%−48.6%−26.3%−17.2%+479%52.8%0.19−76.9%—$3.5B—
CMG RestaurantsChipotle Mexican Grill, Inc.1/5 short1/3 long−10.5%−10.5%−17.2%−20.9%−28.8%−19.0%−18.7%+266%35.1%0.06−58.9%—$38B—
BROS RestaurantsDutch Bros Inc.1/5 short1/3 long+11.9%−33.9%−19.8%−29.5%−21.9%+73.0%−28.7%—61.8%0.20−70.1%—$8.2B—
YUMC RestaurantsYum China Holdings, Inc.5/5 short0/3 long+8.8%+3.3%−6.2%−4.7%+2.9%−7.1%−19.4%+108%37.3%0.07−56.5%—$15B—
PEP Beverages - Non-AlcoholicPepsiCo, Inc.5/5 short0/3 long+3.4%0.0%−12.8%−2.9%−9.2%−6.7%−2.3%+72.6%19.1%0.07−30.3%—$183B—
BLMN RestaurantsBloomin' Brands, Inc.5/5 short0/3 long+22.7%+24.0%+55.0%+62.1%+39.4%−50.5%−44.8%−23.3%58.6%0.08−80.5%—$885M—
DIN RestaurantsDine Brands Global, Inc.5/5 short0/3 long+13.2%−5.4%+11.1%−1.3%+19.0%−26.3%−51.3%−38.2%44.3%-0.11−83.3%—$407M—
LW Packaged FoodsLamb Weston Holdings, Inc.5/5 short0/3 long+13.7%+16.3%+18.8%+30.3%−15.6%−33.9%+3.1%—38.0%0.22−64.6%—$7.4B—
SG RestaurantsSweetgreen, Inc.5/5 short0/3 long+42.6%+60.5%+53.1%+54.0%+43.6%−2.3%————−91.1%—$1.3B—
DPZ RestaurantsDomino's Pizza, Inc.3/5 short0/3 long+6.9%−3.3%−13.3%−24.3%−23.6%−4.4%−25.7%+116%30.2%-0.05−47.8%—$10B—
WEN RestaurantsThe Wendy's Company2/5 short0/3 long−2.7%−16.2%−6.1%−16.5%−22.3%−59.5%−63.0%−16.5%36.5%-0.37−73.0%—$1.2B—
JACK RestaurantsJack in the Box Inc.1/5 short0/3 long−9.4%−17.8%−5.5%−35.5%−30.0%−80.1%−86.8%−85.0%52.1%-0.52−91.5%—$232M—
PZZA RestaurantsPapa John's International, Inc.0/5 short0/3 long−7.7%−43.9%−49.9%−52.3%−63.5%−67.8%−82.0%−70.9%43.1%-0.59−84.5%—$617M—
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How did MCD do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where MCD ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with MCD and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

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

InvestmentYears ahead of MCD20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
MCD This pageMcDonald's Corporation—+7.9%+0.1%+15.1%+0.5%+27.8%+11.3%+14.0%+5.8%+44.0%+6.2%+30.4%−0.1%+13.6%−9.3%+34.7%+26.9%+4.0%+8.6%+36.4%+34.6%+7.4%+31.5%+56.9%−38.4%−21.5%−15.1%+5.4%+61.7%+6.0%
Rank among alternativesTop quarter in 9 of 299 of 2617 of 2614 of 257 of 257 of 2312 of 2317 of 2312 of 233 of 2314 of 202 of 1816 of 1717 of 1714 of 165 of 1610 of 1614 of 161 of 162 of 163 of 159 of 155 of 133 of 1313 of 1312 of 1313 of 134 of 133 of 1310 of 12
SPY S&P 500State Street SPDR S&P 500 ETF16 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
DRI Darden Restaurants, Inc.15 of 29+1.6%+17.7%+22.8%−4.8%+29.5%+10.5%+12.3%+6.9%+36.0%+18.2%+25.4%+12.7%+26.0%+2.6%+1.3%+36.2%+28.0%+4.4%−30.1%+4.4%+41.3%+32.3%+3.3%−13.1%+55.3%+26.7%+0.9%+44.9%+44.4%
USFD US Foods Holding Corp.4 of 9+11.7%+48.6%+33.5%−2.3%+4.6%−20.5%+32.4%−0.9%+16.2%————————————————————
KO The Coca-Cola Company12 of 29+15.6%+8.9%−4.4%+10.6%+11.4%+2.5%+20.6%+6.8%+14.3%−0.3%+5.2%+5.3%+17.2%+6.5%+9.5%+19.0%+30.4%−24.0%+30.4%+23.2%−0.8%−16.2%+18.2%−5.5%−21.9%+6.1%−12.2%+1.3%+27.9%
YUM Yum! Brands, Inc.14 of 28+14.9%+4.7%+3.9%−6.0%+30.1%+9.8%+11.4%+14.6%+31.1%+23.4%+2.5%−1.6%+16.2%+14.7%+22.8%+43.3%+13.8%−16.0%+32.3%+26.8%+0.2%+37.7%+42.2%−1.5%+49.0%−14.5%−22.9%+72.3%—
CAKE The Cheesecake Factory Incorporated14 of 29+8.6%+39.3%+14.0%−17.0%+5.6%−3.6%−7.8%−7.4%−18.5%+32.1%−7.0%+5.7%+49.5%+12.3%−4.3%+42.0%+114%−57.4%−3.6%−34.2%+15.2%+10.6%+21.8%+4.0%+35.9%+64.5%+17.9%+46.0%+68.4%
TXRH Texas Roadhouse, Inc.11 of 21−6.6%+49.8%+37.1%+4.2%+15.7%+39.8%−3.6%+15.1%+10.2%+37.1%+8.0%+24.1%+68.9%+15.2%−11.3%+52.8%+45.1%−30.0%−16.5%−14.8%+5.2%————————
EAT Brinker International, Inc.15 of 29+8.5%+206%+35.3%−12.8%−35.3%+36.1%−0.9%+17.3%−18.4%+6.0%−16.4%+29.2%+52.8%+18.6%+31.5%+44.0%+46.1%−44.0%−34.3%+18.3%+10.5%+5.7%+2.8%+8.4%+5.7%+75.2%−16.5%+80.7%0.0%
QSR Restaurant Brands International Inc.5 of 11+8.6%−13.8%+24.7%+10.7%+2.7%−0.3%+25.6%−12.1%+30.7%+29.4%−3.2%——————————————————
SYY Sysco Corporation12 of 29−1.0%+7.4%−1.7%−0.3%+8.3%−10.4%+39.6%+5.5%+12.5%+38.8%+5.8%+13.4%+18.9%+11.9%+3.5%+8.0%+26.7%−23.5%−13.2%+21.0%−17.3%+3.7%+26.8%+15.6%−11.7%+53.5%+45.6%+22.1%+41.8%
SBUX Starbucks Corporation16 of 29−5.3%−2.5%−1.2%−13.2%+11.1%+24.2%+39.1%+14.7%+5.4%−6.1%+48.1%+6.2%+48.1%+18.4%+45.3%+41.4%+144%−53.7%−42.2%+18.1%−3.8%+88.1%+62.3%+7.2%−13.8%+82.4%−13.6%+46.0%+34.4%
SHAK Shake Shack Inc.4 of 10−37.5%+75.1%+78.5%−42.4%−14.9%+42.3%+31.1%+5.1%+20.7%−9.6%———————————————————
CAVA CAVA Group, Inc.1 of 2−48.0%+162%———————————————————————————
WING Wingstop Inc.7 of 10−15.7%+11.1%+87.3%−17.0%+30.9%+60.4%+35.0%+86.1%+32.3%+44.7%———————————————————
CMG Chipotle Mexican Grill, Inc.11 of 19−38.6%+31.8%+64.8%−20.6%+26.1%+65.6%+93.8%+49.5%−23.4%−21.4%−29.9%+28.4%+79.2%−11.8%+58.8%+141%+41.9%−57.8%+158%——————————
BROS Dutch Bros Inc.2 of 4+16.9%+65.4%+12.3%−44.6%—————————————————————————
YUMC Yum China Holdings, Inc.5 of 9+1.1%+15.4%−21.6%+10.8%−12.0%+19.5%+44.8%−15.3%+53.6%————————————————————
PEP PepsiCo, Inc.12 of 29−1.8%−7.6%−3.3%+6.8%+20.5%+11.7%+27.4%−4.8%+17.8%+7.8%+8.8%+17.3%+24.6%+6.4%+4.8%+10.7%+14.6%−26.0%+23.8%+7.9%+15.3%+13.8%+12.1%−12.2%−0.6%+42.6%−12.4%+14.3%+25.7%
BLMN Bloomin' Brands, Inc.5 of 13−46.6%−54.4%+45.5%−1.6%+8.1%−11.1%+25.9%−14.8%+20.5%+8.4%−31.0%+3.1%+53.5%————————————————
DIN Dine Brands Global, Inc.15 of 29+14.2%−35.7%−20.3%−12.3%+31.4%−27.3%+28.2%+37.3%−28.4%−5.0%−15.2%+28.6%+29.9%+58.7%−14.5%+103%+110%−66.3%−29.4%+14.7%+14.6%+11.8%+64.3%−18.1%+35.1%+29.8%−16.4%+22.9%+37.5%
LW Lamb Weston Holdings, Inc.5 of 9−35.7%−37.0%+22.3%+42.9%−18.4%−7.2%+18.3%+31.8%+51.8%————————————————————
SG Sweetgreen, Inc.2 of 4−78.9%+184%+31.9%−73.2%—————————————————————————
DPZ Domino's Pizza, Inc.14 of 21+0.9%+3.2%+20.7%−37.9%+48.4%+31.6%+19.6%+32.4%+19.8%+44.7%+19.5%+36.9%+62.1%+38.6%+113%+90.4%+78.0%−64.5%−18.9%+17.9%+38.3%————————
WEN The Wendy's Company10 of 29−45.8%−11.5%−9.6%−2.8%+11.0%+0.1%+45.4%−3.1%+23.7%+28.2%+22.0%+6.1%+90.3%−10.2%+18.2%0.0%−4.0%−40.0%−58.9%+34.9%+31.4%+12.7%+37.2%+7.9%+0.2%+31.8%+15.8%−41.8%+137%
JACK Jack in the Box Inc.12 of 29−53.8%−47.3%+22.2%−20.2%−4.1%+20.8%+2.5%−19.4%−10.7%+47.8%−2.8%+61.4%+74.9%+36.8%−1.1%+7.4%−10.9%−14.3%−15.6%+74.7%−5.2%+72.6%+23.5%−37.2%−6.5%+42.3%−6.2%+46.4%+69.8%
PZZA Papa John's International, Inc.12 of 29−2.0%−44.2%−5.3%−37.3%+58.9%+35.9%+61.5%−27.8%−33.7%+55.0%+1.1%+24.4%+66.5%+45.8%+36.0%+18.6%+26.7%−18.8%−21.7%−2.3%+72.3%+3.1%+19.8%+1.5%+23.7%−14.8%−40.9%+26.4%+3.4%
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Risk and diversification

How MCD 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 MCD's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents MCD's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

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

DuringMCD fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−73.7%−39.5%Nov 1999Mar 20033.3 yearsDec 20063.8 years
No named crash−40.3%—Aug 1987Oct 19872 monthsMay 198919 months
Covid crash−36.9%−24.0%Sep 2019Mar 20206 monthsSep 20206 months
No named crash−33.6%—Jul 1990Oct 19903 monthsDec 199114 months
No named crash−31.0%+14.2%Feb 2026Oct 20268 monthsNot yet—

How did MCD do in stock market crashes?

This section measures how far MCD, 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.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than MCD.

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
MCD This pageMcDonald's Corporation—−1.4%−17.2%−36.1%−9.7%−6.1%−9.8%−7.3%−2.0%−21.4%−57.1%
SPY S&P 500State Street SPDR S&P 500 ETF3 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
DRI Darden Restaurants, Inc.3 of 10−1.2%−25.0%−71.8%−14.8%−4.9%−16.3%−22.1%−0.7%−69.0%−32.4%
USFD US Foods Holding Corp.0 of 5−6.6%−32.8%−75.6%−10.6%−6.6%—————
KO The Coca-Cola Company5 of 10−1.4%−16.7%−37.0%−8.8%−7.8%−8.8%−8.3%0.0%−40.6%−31.3%
YUM Yum! Brands, Inc.3 of 10−1.7%−22.2%−46.3%−6.9%−7.7%−24.7%−12.3%−1.1%−45.5%−33.0%
CAKE The Cheesecake Factory Incorporated1 of 10−7.0%−38.5%−62.4%−20.7%−9.8%−20.3%−22.5%−2.7%−78.5%−40.0%
TXRH Texas Roadhouse, Inc.1 of 9−2.7%−25.9%−57.2%−19.2%−5.2%−13.3%−28.6%−2.5%−66.1%—
EAT Brinker International, Inc.2 of 10−10.0%−49.2%−81.0%−19.5%−7.4%−21.7%−21.9%−0.6%−85.6%−30.5%
QSR Restaurant Brands International Inc.1 of 6−3.3%−23.5%−56.9%−13.9%−4.7%−29.5%————
SYY Sysco Corporation3 of 10−2.3%−20.8%−59.5%−17.8%−6.8%−6.4%−17.9%−1.5%−43.1%−27.2%
SBUX Starbucks Corporation3 of 10−3.3%−38.4%−37.5%−11.4%−3.0%−14.2%−15.5%−0.6%−73.2%−44.1%
SHAK Shake Shack Inc.1 of 6−7.8%−51.7%−57.6%−34.9%−5.6%−54.8%————
WING Wingstop Inc.1 of 6−3.2%−58.1%−50.8%−18.8%−2.3%−35.2%————
CMG Chipotle Mexican Grill, Inc.1 of 90.0%−26.9%−50.2%−21.4%−18.0%−46.4%−18.6%−1.9%−74.6%—
BROS Dutch Bros Inc.0 of 2−8.8%−60.0%————————
YUMC Yum China Holdings, Inc.1 of 5−3.4%−32.0%−14.6%−13.3%−11.5%—————
PEP PepsiCo, Inc.5 of 10−0.8%−11.9%−28.3%−12.3%−7.2%−10.2%−8.3%−0.2%−40.4%−33.0%
BLMN Bloomin' Brands, Inc.1 of 6−7.7%−34.0%−79.2%−21.0%−5.4%−28.2%————
DIN Dine Brands Global, Inc.2 of 10−8.1%−24.9%−82.6%−27.1%−2.8%−20.6%−36.0%−4.8%−91.3%−38.6%
LW Lamb Weston Holdings, Inc.1 of 5−3.6%−28.6%−52.8%−14.2%−4.3%—————
SG Sweetgreen, Inc.0 of 2−13.0%−70.3%————————
DPZ Domino's Pizza, Inc.1 of 9−3.8%−43.1%−23.1%−20.3%−7.4%−11.5%−14.8%−5.9%−83.3%—
WEN The Wendy's Company2 of 10−5.0%−32.8%−68.6%−16.5%−3.6%−15.8%−19.9%−4.9%−78.3%−22.0%
JACK Jack in the Box Inc.2 of 10−9.2%−41.4%−79.1%−14.4%−7.5%−20.7%−21.3%−1.2%−64.4%−40.2%
PZZA Papa John's International, Inc.2 of 10−6.3%−45.6%−48.7%−31.1%−7.9%−38.5%−13.0%−1.0%−57.0%−43.7%
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How closely does MCD 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 MCD 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 MCD's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
MCD This pageMcDonald's Corporation58%52%1.110.52
KO The Coca-Cola Company57%44%1.290.47
TXRH Texas Roadhouse, Inc.93%78%1.190.94
DRI Darden Restaurants, Inc.96%92%1.051.06
USFD US Foods Holding Corp.100%103%0.971.29
YUM Yum! Brands, Inc.67%70%0.960.82
CMG Chipotle Mexican Grill, Inc.103%111%0.921.16
WING Wingstop Inc.123%137%0.901.57
QSR Restaurant Brands International Inc.67%78%0.850.83
EAT Brinker International, Inc.139%168%0.831.98
CAKE The Cheesecake Factory Incorporated85%104%0.821.35
DPZ Domino's Pizza, Inc.77%98%0.790.75
SYY Sysco Corporation76%100%0.761.02
SBUX Starbucks Corporation81%107%0.760.94
PEP PepsiCo, Inc.48%65%0.750.48
SHAK Shake Shack Inc.85%131%0.651.68
WEN The Wendy's Company32%78%0.420.68
BLMN Bloomin' Brands, Inc.70%173%0.401.70
DIN Dine Brands Global, Inc.76%189%0.401.52
JACK Jack in the Box Inc.49%214%0.231.61
PZZA Papa John's International, Inc.32%141%0.221.08
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What diversifies MCD?

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

ETFs

InvestmentCorrelation5Y returnSharpe2014201220022001200080/20 mix volatility80/20 mix annual return
MCD McDonald's Corporation (this page)1.00+15.5%0.25−0.1%−9.3%−38.4%−21.5%−15.1%17.9%+1.5%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.28+225%1.34+8.1%+19.6%———15.3%+6.5%
MLPX EnergyGlobal X - MLP & Energy Infrastructure ETF0.43+135%0.97+16.2%————16.3%+5.3%
SMH TechnologyVanEck Semiconductor ETF0.00+323%0.97+30.2%+8.6%−47.0%−14.6%—15.9%+9.1%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.49+85.0%0.96+3.4%+20.9%———15.6%+4.0%
GLD CommoditiesSPDR Gold Shares0.28+126%0.96−2.2%+6.6%———15.7%+5.0%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.20+136%0.93—————15.7%+5.7%
XLE EnergyState Street Energy Select Sector SPDR ETF0.31+177%0.93−8.7%+5.2%−14.8%−18.2%+24.4%16.7%+6.1%
DFIV InternationalDimensional - International Value ETF0.49+99.4%0.93—————16.1%+4.4%

Stocks

InvestmentCorrelation5Y returnSharpe2014201220022001200080/20 mix volatility80/20 mix annual return
MCD McDonald's Corporation (this page)1.00+15.5%0.25−0.1%−9.3%−38.4%−21.5%−15.1%17.9%+1.5%
CAH Medical - DistributionCardinal Health, Inc.0.41+479%1.55+23.0%+3.8%−8.3%−2.5%+108%17.2%+8.5%
CLS Hardware, Equipment & PartsCelestica Inc.-0.11+3,143%1.47+12.9%+11.2%−65.1%−25.6%−2.3%17.5%+21.1%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.26+1,636%1.46−10.4%+15.7%−9.4%+73.7%−71.1%18.8%+16.7%
MCK Medical - DistributionMcKesson Corporation0.33+413%1.44+29.3%+25.6%−27.2%+4.9%+61.2%16.7%+8.0%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.04+690%1.41+0.4%+94.3%———16.0%+10.7%
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Common questions

What was MCD's worst drawdown?

MCD's deepest decline since it began trading in 1986 was 73.7%, from November 1999 to March 2003. It took about four years from the low to climb back to its old high.

What were MCD's best and worst years?

Over 29 full calendar years, MCD's best year was 1998, when it returned 61.7%. Its worst was 2002, with a return of -38.4%.

Is there a better investment than MCD?

Among MCD's popular alternatives, KO earned more than MCD with less volatility over the past 5 years: 14.7% a year at 16.8% volatility, against 2.9% a year at 17.9%. Looking beyond its popular alternatives, MNST (food & beverages) earned more for the risk it took than MCD over the past 5 years, and its worst fall in 10 years was 30.4%, against 36.9% for MCD.

Is MCD more volatile than the S&P 500?

Yes. MCD's volatility over the past 5 years was 17.9%, 1.0 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MCD's return lands within 17.9% 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 MCD's Sharpe ratio?

MCD's Sharpe ratio over the past 5 years was 0.25, against 0.79 for the S&P 500, so MCD 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 MCD with the S&P 500?

Over the past 5 years, MCD's monthly returns had a correlation of 0.38 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 MCD instead: the lower it is, the more that option would diversify a MCD holding.

What are the best alternatives to MCD?

Of the 25 popular alternatives we compared, nine outperformed MCD in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: DRI, USFD and KO.

Did MCD outperform the S&P 500?

MCD finished ahead of the S&P 500 (SPY) in 13 of 29 full calendar years. In 2025, it returned +7.9%, against +17.7% for the index.

How did MCD do in stock market crashes?

MCD fell less than the S&P 500 (SPY) in six of the ten major crashes it has traded through, and further in three. The clearest case was the 2008 financial crisis, when MCD fell 21.4% and the S&P 500 fell 55.2%.

What diversifies MCD?

These had a low correlation with MCD over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.28), MLPX (correlation 0.43) and SMH (correlation -0.00); among large stocks, CAH (correlation 0.41), CLS (correlation -0.11) and FIX (correlation 0.26). A correlation near zero means the two have moved largely independently.

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