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Relative Intelligence · Financial Data

How Moody's (MCO) compares with the whole market and its popular alternatives

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

Period covered: MCO's full trading record, from October 1994 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 MCO →Chart MCO vs. 17 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in MCO over the past 24 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of MCO over the same span and MCO'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 24 years rather than MCO's full 29 years, because most of its popular alternatives have not traded that long.

Choose a period

From the end of September 2002 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. 314 of the 1,370 stocks and funds worth at least $500 million that traded the whole period ended ahead of MCO; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$20,000$50,000$100,000$200,0002002200620102014201820222026$10,000$100,00020022008201420202026
  • BLK$434,103+4,241% total · +17.0% a year
  • MSFT$384,530+3,745% total · +16.4% a year
  • NDAQ$374,031+3,640% total · +16.3% a year
  • CDNS$324,675+3,147% total · +15.6% a year
  • CTAS$251,989+2,420% total · +14.4% a year
  • MCO$239,916+2,299% total · +14.2% a year
  • FDS$196,174+1,862% total · +13.2% a year
  • SPGI$194,414+1,844% total · +13.2% a year
  • SPY (S&P 500)$144,215+1,342% total · +11.8% a year
  • TRI$70,274+603% total · +8.5% 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. 1,896 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of MCO; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$15,000$20,000$25,000$30,000202120222023202420252026$0$10,000$20,000$30,000202120222023202420252026
  • CBOE$23,731+137% total · +18.9% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • MSFT$18,958+89.6% total · +13.6% a year
  • CME$16,716+67.2% total · +10.8% a year
  • NDAQ$15,317+53.2% total · +8.9% a year
  • BLK$14,247+42.5% total · +7.3% a year
  • MCO$13,345+33.5% total · +5.9% a year
  • KRE$11,755+17.5% total · +3.3% a year
  • BX$11,476+14.8% total · +2.8% a year
  • MSCI$9,376−6.2% total · −1.3% a year
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MCO 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
$82B
Industry
Financial - Data & Stock Exchanges
Price history from
October 1994

Returns

Past 1 year
+1.1%total return
Past 3 years
+57.3%+16.3% a year
Past 5 years
+33.4%+5.9% a year
Past 10 years
+383%+17.1% a year
Best calendar year
+71.3%2019
Worst calendar year
−48.0%2007
Losing years
6 of 29full calendar years

Risk

Volatility
26.9%typical yearly swing, 5 years
Sharpe ratio
0.35return per unit of risk, 5 years
Worst decline ever
−78.7%Feb 2007 to Nov 2008
From its all-time high
−11.3%below the peak

MCO against the whole market

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

How does MCO rank among all stocks?

This section ranks MCO 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 MCO 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.

MeasureMCORankStanding
1-year return+1.1%1,945 of 3,287bottom 42%
3-year return+57.3%1,439 of 3,017top 48%
5-year return+33.4%1,296 of 2,893top 45%
10-year return+383%441 of 2,202top 20%
Volatility, 5 years26.9%474 of 2,893top 16%
Sharpe ratio, 5 years0.351,405 of 2,893top 49%
Worst decline, past 10 years−42.0%203 of 2,187top 9%

What has beaten MCO 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). MCO sits where the dashed lines cross. Anything in the green box above and to the left earned more than MCO 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 MCO; faint dots are 92 more of the 681 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.

0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than MCORSG: +13.9% a year, volatility 18.5%MSI: +14.8% a year, volatility 23.6%FAST: +15.8% a year, volatility 24.6%SCHG: +13.1% a year, volatility 22.4%VTI: +11.5% a year, volatility 17.5%VOO: +12.8% a year, volatility 16.9%BRK-B: +13.4% a year, volatility 17.1%RSPT: +16.9% a year, volatility 25.1%TDIV: +16.2% a year, volatility 21.3%JNJ: +12.7% a year, volatility 17.9%LVHI: +17.0% a year, volatility 11.1%KO: +14.7% a year, volatility 16.8%VXUS: +8.2% a year, volatility 16.4%PWB: +14.8% a year, volatility 22.2%NVS: +17.1% a year, volatility 20.7%ILCG: +11.2% a year, volatility 22.4%VTV: +12.1% a year, volatility 13.7%AMGN: +19.6% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%VEA: +9.3% a year, volatility 16.9%EQL: +13.5% a year, volatility 14.5%VIG: +10.4% a year, volatility 14.1%SCHD: +9.7% a year, volatility 14.3%MNST: +17.2% a year, volatility 24.9%VT: +10.3% a year, volatility 16.2%MA: +12.4% a year, volatility 23.8%FJUL: +11.5% a year, volatility 10.9%AEP: +12.4% a year, volatility 20.2%DYNF: +14.7% a year, volatility 17.5%SPMO: +18.7% a year, volatility 20.8%DFIV: +14.8% a year, volatility 16.4%AVLV: +14.0% a year, volatility 16.9%DFAT: +9.6% a year, volatility 21.0%DGX: +12.3% a year, volatility 22.5%FTS: +8.4% a year, volatility 16.4%AVEM: +9.3% a year, volatility 19.5%SPHQ: +12.0% a year, volatility 16.7%EWJ: +9.2% a year, volatility 18.8%RY: +17.3% a year, volatility 18.2%RWL: +13.7% a year, volatility 14.4%DBEF: +13.1% a year, volatility 13.8%IOO: +15.7% a year, volatility 17.2%JQUA: +13.6% a year, volatility 15.7%DIVO: +11.1% a year, volatility 11.9%CSX: +8.3% a year, volatility 23.3%AJG: +10.9% a year, volatility 24.2%ACT: +20.5% a year, volatility 24.3%QYLD: +8.4% a year, volatility 15.0%BBEU: +8.9% a year, volatility 17.5%USMC: +14.1% a year, volatility 16.4%MPLX: +23.5% a year, volatility 18.8%IDMO: +13.3% a year, volatility 18.2%FTGC: +12.9% a year, volatility 15.6%XMHQ: +9.7% a year, volatility 20.5%OMFL: +9.0% a year, volatility 16.4%SPUS: +15.0% a year, volatility 19.5%DIVI: +13.4% a year, volatility 15.5%HDEF: +12.8% a year, volatility 14.2%AOA: +8.6% a year, volatility 13.1%DIVB: +13.9% a year, volatility 15.4%FV: +9.7% a year, volatility 21.1%FLQL: +13.8% a year, volatility 16.3%JMOM: +12.9% a year, volatility 19.1%HFXI: +11.4% a year, volatility 15.3%NULV: +9.2% a year, volatility 14.2%FBT: +10.8% a year, volatility 22.2%DSTL: +11.3% a year, volatility 16.1%CHCO: +15.9% a year, volatility 22.8%DDWM: +12.3% a year, volatility 13.4%IPAC: +8.2% a year, volatility 16.9%RODM: +10.6% a year, volatility 13.5%QUS: +11.1% a year, volatility 14.2%RAAX: +11.7% a year, volatility 15.6%VFMO: +11.4% a year, volatility 22.1%INFL: +11.8% a year, volatility 17.8%QGRO: +9.9% a year, volatility 21.2%JPM: +17.3% a year, volatility 24.3%TDVG: +9.6% a year, volatility 13.8%ABBV: +26.1% a year, volatility 23.4%DUSA: +11.3% a year, volatility 18.4%FTQI: +11.5% a year, volatility 14.8%HLAL: +14.0% a year, volatility 18.0%AVES: +8.0% a year, volatility 17.4%GEM: +7.3% a year, volatility 18.8%NTSX: +8.2% a year, volatility 17.2%IDHQ: +10.0% a year, volatility 17.9%QQQE: +8.1% a year, volatility 20.7%FDRR: +12.6% a year, volatility 15.0%DGT: +13.8% a year, volatility 15.1%SIXA: +12.8% a year, volatility 12.7%DXJ: +26.6% a year, volatility 19.1%QDEF: +12.7% a year, volatility 13.7%MCO: +5.9% a year, volatility 26.9%SPY (S&P 500): +12.7% a year, volatility 17.1%CBOE: +21.5% a year, volatility 25.1%NDAQ: +8.9% a year, volatility 24.7%CME: +11.2% a year, volatility 20.8%BLK: +7.1% a year, volatility 27.1%MSCI: +0.1% a year, volatility 31.3%MSFT: +12.5% a year, volatility 28.2%CIBR: +14.1% a year, volatility 26.1%CTAS: +16.5% a year, volatility 23.1%SEIC: +12.7% a year, volatility 22.3%AMP: +12.1% a year, volatility 27.8%CDNS: +14.8% a year, volatility 37.2%WMT: +20.8% a year, volatility 22.6%V: +12.8% a year, volatility 22.9%COST: +17.4% a year, volatility 22.9%QQQ: +14.5% a year, volatility 23.0%LIN: +11.5% a year, volatility 20.9%COR: +24.2% a year, volatility 22.8%VGT: +18.4% a year, volatility 26.0%JAAA: +5.1% a year, volatility 1.7%CAH: +42.1% a year, volatility 24.7%MCOSPY (S&P 500)CBOENDAQMSCIMSFTCIBRCTASCDNSWMTVCOSTCORVGTJAAACAH0.0%10.0%20.0%30.0%40.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than MCORSG: +13.9% a year, volatility 18.5%MSI: +14.8% a year, volatility 23.6%FAST: +15.8% a year, volatility 24.6%SCHG: +13.1% a year, volatility 22.4%VTI: +11.5% a year, volatility 17.5%VOO: +12.8% a year, volatility 16.9%BRK-B: +13.4% a year, volatility 17.1%RSPT: +16.9% a year, volatility 25.1%TDIV: +16.2% a year, volatility 21.3%JNJ: +12.7% a year, volatility 17.9%LVHI: +17.0% a year, volatility 11.1%KO: +14.7% a year, volatility 16.8%VXUS: +8.2% a year, volatility 16.4%PWB: +14.8% a year, volatility 22.2%NVS: +17.1% a year, volatility 20.7%ILCG: +11.2% a year, volatility 22.4%VTV: +12.1% a year, volatility 13.7%AMGN: +19.6% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%VEA: +9.3% a year, volatility 16.9%EQL: +13.5% a year, volatility 14.5%VIG: +10.4% a year, volatility 14.1%SCHD: +9.7% a year, volatility 14.3%MNST: +17.2% a year, volatility 24.9%VT: +10.3% a year, volatility 16.2%MA: +12.4% a year, volatility 23.8%FJUL: +11.5% a year, volatility 10.9%AEP: +12.4% a year, volatility 20.2%DYNF: +14.7% a year, volatility 17.5%SPMO: +18.7% a year, volatility 20.8%DFIV: +14.8% a year, volatility 16.4%AVLV: +14.0% a year, volatility 16.9%DFAT: +9.6% a year, volatility 21.0%DGX: +12.3% a year, volatility 22.5%FTS: +8.4% a year, volatility 16.4%AVEM: +9.3% a year, volatility 19.5%SPHQ: +12.0% a year, volatility 16.7%EWJ: +9.2% a year, volatility 18.8%RY: +17.3% a year, volatility 18.2%RWL: +13.7% a year, volatility 14.4%DBEF: +13.1% a year, volatility 13.8%IOO: +15.7% a year, volatility 17.2%JQUA: +13.6% a year, volatility 15.7%DIVO: +11.1% a year, volatility 11.9%CSX: +8.3% a year, volatility 23.3%AJG: +10.9% a year, volatility 24.2%ACT: +20.5% a year, volatility 24.3%QYLD: +8.4% a year, volatility 15.0%BBEU: +8.9% a year, volatility 17.5%USMC: +14.1% a year, volatility 16.4%MPLX: +23.5% a year, volatility 18.8%IDMO: +13.3% a year, volatility 18.2%FTGC: +12.9% a year, volatility 15.6%XMHQ: +9.7% a year, volatility 20.5%OMFL: +9.0% a year, volatility 16.4%SPUS: +15.0% a year, volatility 19.5%DIVI: +13.4% a year, volatility 15.5%HDEF: +12.8% a year, volatility 14.2%AOA: +8.6% a year, volatility 13.1%DIVB: +13.9% a year, volatility 15.4%FV: +9.7% a year, volatility 21.1%FLQL: +13.8% a year, volatility 16.3%JMOM: +12.9% a year, volatility 19.1%HFXI: +11.4% a year, volatility 15.3%NULV: +9.2% a year, volatility 14.2%FBT: +10.8% a year, volatility 22.2%DSTL: +11.3% a year, volatility 16.1%CHCO: +15.9% a year, volatility 22.8%DDWM: +12.3% a year, volatility 13.4%IPAC: +8.2% a year, volatility 16.9%RODM: +10.6% a year, volatility 13.5%QUS: +11.1% a year, volatility 14.2%RAAX: +11.7% a year, volatility 15.6%VFMO: +11.4% a year, volatility 22.1%INFL: +11.8% a year, volatility 17.8%QGRO: +9.9% a year, volatility 21.2%JPM: +17.3% a year, volatility 24.3%TDVG: +9.6% a year, volatility 13.8%ABBV: +26.1% a year, volatility 23.4%DUSA: +11.3% a year, volatility 18.4%FTQI: +11.5% a year, volatility 14.8%HLAL: +14.0% a year, volatility 18.0%AVES: +8.0% a year, volatility 17.4%GEM: +7.3% a year, volatility 18.8%NTSX: +8.2% a year, volatility 17.2%IDHQ: +10.0% a year, volatility 17.9%QQQE: +8.1% a year, volatility 20.7%FDRR: +12.6% a year, volatility 15.0%DGT: +13.8% a year, volatility 15.1%SIXA: +12.8% a year, volatility 12.7%DXJ: +26.6% a year, volatility 19.1%QDEF: +12.7% a year, volatility 13.7%MCO: +5.9% a year, volatility 26.9%SPY (S&P 500): +12.7% a year, volatility 17.1%CBOE: +21.5% a year, volatility 25.1%NDAQ: +8.9% a year, volatility 24.7%CME: +11.2% a year, volatility 20.8%BLK: +7.1% a year, volatility 27.1%MSCI: +0.1% a year, volatility 31.3%MSFT: +12.5% a year, volatility 28.2%CIBR: +14.1% a year, volatility 26.1%CTAS: +16.5% a year, volatility 23.1%SEIC: +12.7% a year, volatility 22.3%AMP: +12.1% a year, volatility 27.8%CDNS: +14.8% a year, volatility 37.2%WMT: +20.8% a year, volatility 22.6%V: +12.8% a year, volatility 22.9%COST: +17.4% a year, volatility 22.9%QQQ: +14.5% a year, volatility 23.0%LIN: +11.5% a year, volatility 20.9%COR: +24.2% a year, volatility 22.8%VGT: +18.4% a year, volatility 26.0%JAAA: +5.1% a year, volatility 1.7%CAH: +42.1% a year, volatility 24.7%MCOSPY (S&P 500)CBOENDAQMSCICTASCDNSWMTCOSTCORJAAACAH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than MCO?

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

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

Screen the whole market against MCO 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 MCO?lower diversifies moreExpenseper year
MCOMoody's Corporation · this page
+5.9%26.9%0.35−42.0%+383%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.820.09%
Popular alternativesbest 5 shownThe investments people most often weigh against MCO. 5 of 17 passed at least one test.
CBOECboe Global Markets, Inc. · Capital Markets
Higher return, lower volatilityHigher return in most periodsSmaller losses in recent crashes+21.5%25.1%0.91−43.2%+463%0.28—
NDAQNasdaq, Inc. · Capital Markets
Higher return, lower volatilityHigher return in most periodsSmaller losses in recent crashes+8.9%24.7%0.47−38.3%+407%0.69—
CMECME Group Inc. · Capital Markets
Higher return, lower volatility+11.2%20.8%0.62−37.4%+319%0.24—
BLKBlackRock, Inc. · Asset Management
Higher return in most periods+7.1%27.1%0.39−43.9%+313%0.77—
MSCIMSCI Inc. · Financial Data
Smaller losses in recent crashes+0.1%31.3%0.16−43.7%+702%0.71—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Financial Data and the categories next to it (Capital Markets, Business Services, Asset Management, Software), plus MCO's specific themes. 24 of 129 passed at least one test.
MSFTMicrosoft Corporation · Software
Higher return, similar volatilityHigher return in most periodsSmaller losses in recent crashes+12.5%28.2%0.56−37.1%+946%0.58—
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+14.1%26.1%0.64−33.9%+454%0.450.58%
CTASCintas Corporation · Business Services
Higher return, lower volatilityHigher return in most periods+16.5%23.1%0.78−48.4%+808%0.66—
SEICSEI Investments Company · Asset Management
Higher return, lower volatilityHigher return in most periods+12.7%22.3%0.65−51.8%+168%0.67—
AMPAmeriprise Financial, Inc. · Asset Management
Higher return, similar volatilityHigher return in most periods+12.1%27.8%0.55−53.9%+507%0.71—
CDNSCadence Design Systems, Inc. · Software
Higher Sharpe, smaller worst declineSmaller losses in recent crashes+14.8%37.2%0.56−34.2%+1,139%0.47—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,204 of 3,487 passed at least one test.
WMTWalmart Inc. · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+20.8%22.6%0.96−25.7%+508%0.42—
VVisa Inc. · Payment Processing
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+12.8%22.9%0.64−36.4%+429%0.61—
COSTCostco Wholesale Corporation · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+17.4%22.9%0.82−31.4%+685%0.63—
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+14.5%23.0%0.71−35.1%+553%0.700.18%
LINLinde plc · Chemicals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+11.5%20.9%0.63−32.6%+394%0.50—
CORCencora, Inc. · Health Care Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+24.2%22.8%1.07−32.4%+406%0.44—
VGTVanguard Information Technology ETF · Technology Equity
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+18.4%26.0%0.78−35.1%+779%0.660.09%
JAAAJanus Henderson AAA CLO ETF · CLO Bonds
On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline+5.1%1.7%2.98−2.6%—0.420.20%
What these numbers mean for MCO
Annual return
MCO returned 5.9% 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 $13,300. 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
MCO's volatility over the past 5 years was 26.9%, 1.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MCO's return lands within 26.9% 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
MCO's Sharpe ratio over the past 5 years was 0.35, against 0.79 for the S&P 500, so MCO 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
MCO's worst fall from a peak to a low over the past 10 years was 42.0%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 42.0% fall takes a 72.5% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, MCO's monthly returns had a correlation of 0.82 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against MCO instead: the lower it is, the more that option would diversify a MCO holding. Guide: Correlation and diversification →
Show all 681 stocks and funds worth at least $500 million that earned more than MCO 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 MCOExpense
1
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.42—
2
VVisa Inc. · Payment Processing
Whole market+12.8%22.9%0.64−36.4%+429%0.61—
3
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.63—
4
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.5%23.0%0.71−35.1%+553%0.700.18%
5
LINLinde plc · Chemicals
Whole market+11.5%20.9%0.63−32.6%+394%0.50—
6
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.44—
7
RSGRepublic Services, Inc. · Environmental Services
Whole market+13.9%18.5%0.80−34.0%+446%0.45—
8
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+14.8%23.6%0.71−32.8%+625%0.57—
9
FASTFastenal Company · Industrial Distribution
Whole market+15.8%24.6%0.72−30.7%+576%0.46—
10
SCHGSchwab U.S. Large-Cap Growth ETF · US Large-Cap Growth
Whole market+13.1%22.4%0.67−34.5%+451%0.770.04%
11
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.5%17.5%0.71−35.0%+302%0.830.03%
12
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.820.03%
13
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.49—
14
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.9%25.1%0.75−33.7%+572%0.670.40%
15
TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity
Whole market+16.2%21.3%0.81−32.0%+388%0.670.50%
16
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%0.22—
17
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.560.40%
18
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.37—
19
VXUSVanguard Total International Stock ETF · International Equity
Whole market+8.2%16.4%0.57−36.0%+140%0.710.05%
20
PWBInvesco Large Cap Growth ETF · Broad Market
Whole market+14.8%22.2%0.74−32.4%+409%0.670.55%
21
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.40—
22
ILCGiShares Morningstar Growth ETF · Broad Market
Whole market+11.2%22.4%0.59−35.4%+403%0.740.04%
23
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Whole market+12.1%13.7%0.90−36.8%+235%0.740.03%
24
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%0.29—
25
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.23—
26
VEAVanguard FTSE Developed Markets ETF · Developed International Equity
Whole market+9.3%16.9%0.61−35.8%+153%0.740.03%
27
EQLALPS Equal Sector Weight ETF · Broad Market
Whole market+13.5%14.5%0.94−34.2%+387%0.820.19%
28
VIGVanguard Dividend Appreciation ETF · US Dividend Equity
Whole market+10.4%14.1%0.78−31.7%+258%0.840.04%
29
SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity
Whole market+9.7%14.3%0.72−33.4%+252%0.670.06%
30
MNSTMonster Beverage Corporation · Food & Beverages
Whole market+17.2%24.9%0.77−30.4%+285%0.25—
31
VTVanguard Total World Stock ETF · Global Equity
Whole market+10.3%16.2%0.69−34.2%+223%0.820.06%
32
MAMastercard Incorporated · Payment Processing
Whole market+12.4%23.8%0.61−41.0%+541%0.62—
33
FJULFT Vest U.S. Equity Buffer ETF - July · Multi-Asset
Whole market+11.5%10.9%1.06−13.1%—0.840.85%
34
AEPAmerican Electric Power Company, Inc. · Electric Utilities
Whole market+12.4%20.2%0.68−32.9%+185%0.35—
35
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Whole market+14.7%17.5%0.87−34.7%—0.830.26%
36
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%0.550.13%
37
DFIVDimensional - International Value ETF · International Equity
Whole market+14.8%16.4%0.93−25.4%—0.620.27%
38
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Whole market+14.0%16.9%0.86−19.5%—0.760.15%
39
DFATDimensional - US Targeted Value ETF · US Small-Cap Equity
Whole market+9.6%21.0%0.54−26.1%—0.710.33%
40
DGXQuest Diagnostics Incorporated · Medical Diagnostics
Whole market+12.3%22.5%0.63−36.6%+243%0.37—
41
FTSFortis Inc. · Electric Utilities
Whole market+8.4%16.4%0.58−34.3%+154%0.43—
42
AVEMAvantis Emerging Markets Equity ETF · Emerging Markets Equity
Whole market+9.3%19.5%0.56−36.0%—0.500.33%
43
SPHQInvesco S&P 500 Quality ETF · US Quality Equity
Whole market+12.0%16.7%0.76−31.6%+300%0.750.20%
44
EWJiShares MSCI Japan ETF · International Equity
Whole market+9.2%18.8%0.57−33.1%+132%0.620.49%
45
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.54—
46
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity
Whole market+13.7%14.4%0.97−36.1%+287%0.800.39%
47
DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity
Whole market+13.1%13.8%0.96−32.5%+206%0.730.35%
48
IOOiShares Global 100 ETF · Global Equity
Whole market+15.7%17.2%0.94−31.4%+361%0.770.40%
49
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Whole market+13.6%15.7%0.89−32.9%—0.820.12%
50
DIVOAmplify CWP Enhanced Dividend Income ETF · Equity Income
Whole market+11.1%11.9%0.95−30.0%—0.750.56%
51
CSXCSX Corporation · Railroads
Whole market+8.3%23.3%0.46−40.5%+446%0.66—
52
AJGArthur J. Gallagher & Co. · Insurance
Whole market+10.9%24.2%0.55−44.4%+516%0.52—
53
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.32—
54
ACTEnact Holdings Inc. · Insurance
Whole market+20.5%24.3%0.89−20.2%—0.45—
55
QYLDGlobal X - Nasdaq 100 Covered Call ETF · Equity Income
Whole market+8.4%15.0%0.62−24.7%+156%0.720.60%
56
BBEUJPMorgan BetaBuilders Europe ETF · International Equity
Whole market+8.9%17.5%0.57−36.3%—0.740.09%
57
USMCPrincipal U.S. Mega-Cap ETF · Broad Market
Whole market+14.1%16.4%0.89−30.0%—0.780.12%
58
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.47—
59
IDMOInvesco S&P International Developed Momentum ETF · International Equity
Whole market+13.3%18.2%0.78−31.3%+229%0.730.25%
60
FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives
Whole market+12.9%15.6%0.86−35.9%+139%0.120.98%
61
XMHQInvesco S&P MidCap Quality ETF · US Mid-Cap Equity
Whole market+9.7%20.5%0.56−36.9%+240%0.720.30%
62
OMFLInvesco Russell 1000 Dynamic Multifactor ETF · US Multifactor Equity
Whole market+9.0%16.4%0.61−33.2%—0.770.29%
63
SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology
Whole market+15.0%19.5%0.82−30.8%—0.750.45%
64
DIVIFranklin International Core Dividend Tilt Index ETF · International
Whole market+13.4%15.5%0.89−27.7%+184%0.730.09%
65
HDEFXtrackers MSCI EAFE High Dividend Yield Equity ETF · International
Whole market+12.8%14.2%0.92−36.4%+134%0.630.09%
66
AOAiShares Core 80/20 Aggressive Allocation ETF · Multi-Asset
Whole market+8.6%13.1%0.69−28.4%+165%0.830.19%
67
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.790.05%
68
FVFirst Trust Dorsey Wright Focus 5 ETF · Broad Market
Whole market+9.7%21.1%0.55−34.0%+247%0.670.30%
69
FLQLFranklin U.S. Large Cap Multifactor Index ETF · Broad Market
Whole market+13.8%16.3%0.88−33.6%—0.780.15%
70
JMOMJPMorgan U.S. Momentum Factor ETF · Broad Market
Whole market+12.9%19.1%0.73−34.3%—0.730.12%
71
HFXINYLI FTSE International Equity Currency Neutral ETF · International
Whole market+11.4%15.3%0.79−32.4%+180%0.700.19%
72
NULVNuveen ESG Large-Cap Value · Broad Market
Whole market+9.2%14.2%0.69−37.0%—0.780.26%
73
FBTFirst Trust NYSE Arca Biotechnology Index Fund · Healthcare
Whole market+10.8%22.2%0.58−33.3%+203%0.550.55%
74
DSTLDistillate U.S. Fundamental Stability & Value ETF · Broad Market
Whole market+11.3%16.1%0.75−33.1%—0.800.39%
75
CHCOCity Holding Company · Banks - Regional
Whole market+15.9%22.8%0.77−32.3%+286%0.46—
76
DDWMWisdomTree Dynamic International Equity Fund · International
Whole market+12.3%13.4%0.94−35.0%+149%0.670.40%
77
IPACiShares Core MSCI Pacific ETF · International
Whole market+8.2%16.9%0.55−31.0%+126%0.690.09%
78
RODMHartford Multifactor Developed Markets (ex-US) ETF · International
Whole market+10.6%13.5%0.82−36.0%+141%0.710.29%
79
QUSState Street SPDR MSCI USA StrategicFactors ETF · Broad Market
Whole market+11.1%14.2%0.81−33.8%+273%0.850.15%
80
RAAXVanEck Real Assets ETF · Commodities
Whole market+11.7%15.6%0.79−33.9%—0.550.55%
81
VFMOVanguard U.S. Momentum Factor ETF · Broad Market
Whole market+11.4%22.1%0.60−36.8%—0.640.13%
82
INFLHorizon Kinetics Inflation Beneficiaries ETF · Broad Market
Whole market+11.8%17.8%0.72−21.3%—0.610.85%
83
QGROAmerican Century U.S. Quality Growth ETF · Broad Market
Whole market+9.9%21.2%0.55−32.6%—0.810.29%
84
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+537%0.63—
85
TDVGT. Rowe Price Dividend Growth ETF · Dividend & Income
Whole market+9.6%13.8%0.73−19.2%—0.830.50%
86
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.06—
87
DUSADavis Select U.S. Equity ETF · Broad Market
Whole market+11.3%18.4%0.68−36.7%—0.770.59%
88
FTQIFirst Trust Nasdaq BuyWrite Income ETF · Dividend & Income
Whole market+11.5%14.8%0.82−19.4%+121%0.710.75%
89
HLALWahed FTSE USA Shariah ETF · Broad Market
Whole market+14.0%18.0%0.82−33.6%—0.730.50%
90
AVESAvantis Emerging Markets Value ETF · International
Whole market+8.0%17.4%0.53−27.4%—0.540.36%
91
GEMGoldman Sachs ActiveBeta Emerging Markets Equity ETF · International
Whole market+7.3%18.8%0.47−37.0%+113%0.500.59%
92
NTSXWisdomTree U.S. Efficient Core Fund · Alternatives
Whole market+8.2%17.2%0.55−31.4%—0.850.20%
93
IDHQInvesco S&P International Developed Quality ETF · International
Whole market+10.0%17.9%0.63−33.6%+183%0.740.29%
94
QQQEDirexion NASDAQ-100 Equal Weighted Index ETF · Broad Market
Whole market+8.1%20.7%0.48−32.1%+294%0.790.35%
95
FDRRFidelity Dividend ETF for Rising Rates · Dividend & Income
Whole market+12.6%15.0%0.87−36.5%+265%0.800.15%
96
DGTState Street SPDR Global Dow ETF · International
Whole market+13.8%15.1%0.94−34.4%+261%0.740.50%
97
CBOECboe Global Markets, Inc. · Capital Markets
Popular alternative+21.5%25.1%0.91−43.2%+463%0.28—
98
SIXAETC 6 Meridian Mega Cap Equity ETF · Broad Market
Whole market+12.8%12.7%1.01−18.4%—0.730.31%
99
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.330.48%
100
QDEFNorthern Trust Quality Dividend Defensive ETF · Dividend & Income
Whole market+12.7%13.7%0.94−35.7%+228%0.810.40%

MCO against its popular alternatives

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

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

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

5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%−10.0%−5.0%0.0%5.0%10.0%15.0%20.0%25.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityMCO: 5.9% a year, volatility 26.9%SPY (S&P 500): 12.7% a year, volatility 17.1%CBOE: 21.5% a year, volatility 25.1%NDAQ: 8.9% a year, volatility 24.7%MSCI: 0.1% a year, volatility 31.3%CME: 11.2% a year, volatility 20.8%KRE: 2.2% a year, volatility 29.4%BX: 0.4% a year, volatility 39.8%FDS: −4.8% a year, volatility 30.4%MORN: −5.1% a year, volatility 32.4%TRI: 0.7% a year, volatility 29.3%TRU: −7.0% a year, volatility 40.1%EFX: −7.4% a year, volatility 35.2%BLK: 7.1% a year, volatility 27.1%ICE: 5.4% a year, volatility 21.8%VRSK: −1.4% a year, volatility 25.9%SPGI: 0.7% a year, volatility 25.6%HYG: 3.1% a year, volatility 7.5%LQD: −0.9% a year, volatility 8.7%MCOSPY (S&P 500)CBOENDAQMSCICMEKREBXFDSMORNTRITRUEFXBLKICEVRSKSPGIHYGLQD0.0%10.0%20.0%30.0%40.0%50.0%−10.0%−5.0%0.0%5.0%10.0%15.0%20.0%25.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityMCO: 5.9% a year, volatility 26.9%SPY (S&P 500): 12.7% a year, volatility 17.1%CBOE: 21.5% a year, volatility 25.1%NDAQ: 8.9% a year, volatility 24.7%MSCI: 0.1% a year, volatility 31.3%CME: 11.2% a year, volatility 20.8%KRE: 2.2% a year, volatility 29.4%BX: 0.4% a year, volatility 39.8%FDS: −4.8% a year, volatility 30.4%MORN: −5.1% a year, volatility 32.4%TRI: 0.7% a year, volatility 29.3%TRU: −7.0% a year, volatility 40.1%EFX: −7.4% a year, volatility 35.2%BLK: 7.1% a year, volatility 27.1%ICE: 5.4% a year, volatility 21.8%VRSK: −1.4% a year, volatility 25.9%SPGI: 0.7% a year, volatility 25.6%HYG: 3.1% a year, volatility 7.5%LQD: −0.9% a year, volatility 8.7%MCOSPY (S&P 500)CBOENDAQMSCIKREBXFDSMORNTRITRUEFXBLKICEVRSKHYGLQD
All figures
InvestmentAnnual returnVolatility
CBOE Cboe Global Markets, Inc.+21.5%25.1%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
CME CME Group Inc.+11.2%20.8%
NDAQ Nasdaq, Inc.+8.9%24.7%
BLK BlackRock, Inc.+7.1%27.1%
MCO This pageMoody's Corporation+5.9%26.9%
ICE Intercontinental Exchange, Inc.+5.4%21.8%
HYG iShares iBoxx $ High Yield Corporate Bond ETF+3.1%7.5%
KRE State Street SPDR S&P Regional Banking ETF+2.2%29.4%
SPGI S&P Global Inc.+0.7%25.6%
TRI Thomson Reuters Corporation+0.7%29.3%
BX Blackstone Inc.+0.4%39.8%
MSCI MSCI Inc.+0.1%31.3%
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF−0.9%8.7%
VRSK Verisk Analytics, Inc.−1.4%25.9%
FDS FactSet Research Systems Inc.−4.8%30.4%
MORN Morningstar, Inc.−5.1%32.4%
TRU TransUnion−7.0%40.1%
EFX Equifax Inc.−7.4%35.2%
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Has MCO consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than MCO 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
MCO Moody's Corporation (this page)—+1.7%−5.7%+3.8%−4.1%+1.1%+57.3%+33.4%+383%26.9%0.35−42.0%—$82B—
CBOE QualifiedCboe Global Markets, Inc.4/5 short3/3 longAll-weather+16.1%+13.5%+4.0%+27.9%+34.2%+101%+165%+463%25.1%0.91−43.2%—$33B—
NDAQ QualifiedNasdaq, Inc.4/5 short3/3 longAll-weather+0.1%+3.5%+8.8%−0.9%+8.1%+95.1%+52.9%+407%24.7%0.47−38.3%—$53B—
BLK QualifiedBlackRock, Inc.4/5 short2/3 long+3.5%+7.6%+8.8%+5.7%−0.6%+96.3%+41.1%+313%27.1%0.39−43.9%—$175B—
MSCI Financial - Data & Stock ExchangesMSCI Inc.5/5 short1/3 long+5.9%−5.0%+5.1%+5.8%+11.8%+25.5%+0.5%+702%31.3%0.16−43.7%—$43B—
CME Financial - Data & Stock ExchangesCME Group Inc.4/5 short1/3 long+7.2%+21.0%+3.8%+13.2%+14.6%+57.7%+70.1%+319%20.8%0.62−37.4%—$106B—
KRE FinancialsState Street SPDR S&P Regional Banking ETF2/5 short1/3 long−1.9%−6.4%+1.1%+10.1%+19.4%+95.8%+11.7%+111%29.4%0.22−55.0%0.35%$3.4B—
BX Asset ManagementBlackstone Inc.0/5 short1/3 long−12.7%−9.8%−12.8%−28.3%−28.4%+28.6%+2.1%+628%39.8%0.21−49.3%—$127B—
FDS Financial - Data & Stock ExchangesFactSet Research Systems Inc.5/5 short0/3 long+9.9%+22.5%+33.5%+11.1%+9.5%−24.7%−21.8%+127%30.4%-0.01−61.1%—$11B—
MORN Financial - Data & Stock ExchangesMorningstar, Inc.4/5 short0/3 long+5.4%+23.6%+14.2%+1.5%−1.9%−3.7%−22.9%+203%32.4%0.00−60.0%—$7.9B—
TRI Specialty Business ServicesThomson Reuters Corporation3/5 short0/3 long+18.2%+19.0%+22.4%−8.8%−28.1%−2.5%+3.6%+244%29.3%0.17−63.5%—$49B—
ICE Financial - Data & Stock ExchangesIntercontinental Exchange, Inc.3/5 short0/3 long+2.1%+12.4%−0.6%+0.1%+3.5%+52.4%+30.0%+240%21.8%0.35−34.3%—$89B—
VRSK Software - ServicesVerisk Analytics, Inc.3/5 short0/3 long+11.0%−5.2%+6.8%−13.0%−18.1%−16.8%−6.7%+151%25.9%0.08−50.8%—$25B—
SPGI Financial - Data & Stock ExchangesS&P Global Inc.2/5 short0/3 long+8.3%−2.1%−0.6%−13.9%−7.4%+28.2%+3.7%+293%25.6%0.16−39.8%—$129B—
TRU Financial - Data & Stock ExchangesTransUnion2/5 short0/3 long+9.6%−0.8%+0.9%−5.7%−1.7%+22.2%−30.6%+149%40.1%0.02−64.9%—$15B—
EFX Consulting ServicesEquifax Inc.2/5 short0/3 long+11.3%−1.7%−10.5%−16.8%−22.7%+2.6%−31.9%+49.9%35.2%-0.04−54.4%—$21B—
HYG BondsiShares iBoxx $ High Yield Corporate Bond ETF2/5 short0/3 long−1.9%−2.1%−1.8%−0.4%+0.7%+27.5%+16.8%+49.5%7.5%0.45−22.0%0.49%$17B—
LQD BondsiShares iBoxx $ Investment Grade Corporate Bond ETF2/5 short0/3 long−1.4%−2.4%−3.9%−2.9%−3.9%+19.7%−4.3%+20.5%8.7%-0.06−25.0%0.14%$29B—
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How did MCO do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where MCO ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with MCO 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 MCO; gray means the two finished within a fraction of a point. The rank row places MCO among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of MCO20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
MCO This pageMoody's Corporation—+8.7%+22.2%+41.5%−28.0%+35.6%+23.3%+71.3%−4.1%+58.5%−4.5%+6.1%+23.7%+58.3%+51.8%+28.9%+0.8%+35.5%−43.0%−48.0%+13.0%+41.9%+44.1%+47.2%+4.0%+56.0%+19.9%−0.5%+11.2%+42.4%
Rank among alternativesTop quarter in 10 of 266 of 185 of 183 of 1813 of 1811 of 189 of 183 of 1814 of 185 of 1817 of 189 of 173 of 176 of 171 of 171 of 1714 of 169 of 158 of 1512 of 128 of 114 of 94 of 92 of 91 of 51 of 53 of 5———
SPY S&P 500State Street SPDR S&P 500 ETF10 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%
CBOE Cboe Global Markets, Inc.7 of 15+30.0%+10.7%+44.4%−2.1%+42.2%−21.2%+24.1%−20.6%+70.5%+15.5%+3.8%+23.8%+80.7%+19.1%+15.0%——————————————
NDAQ Nasdaq, Inc.12 of 23+27.2%+34.9%−3.7%−11.2%+60.1%+26.0%+33.9%+8.2%+16.8%+17.4%+23.3%+22.4%+61.9%+3.7%+3.2%+19.7%−19.8%−50.1%+60.8%−12.5%+245%+8.0%−5.3%——————
BLK BlackRock, Inc.10 of 26+6.6%+29.3%+17.9%−20.4%+29.4%+47.2%+31.9%−21.6%+38.2%+14.6%−2.4%+15.7%+57.0%+19.8%−3.6%−15.9%+76.6%−37.0%+45.1%+41.8%+42.4%+47.6%+35.9%−5.5%−0.7%+144%———
MSCI MSCI Inc.10 of 18−3.2%+7.3%+22.9%−23.3%+38.1%+74.4%+77.2%+18.0%+62.6%+10.6%+54.0%+9.0%+41.0%−5.9%−15.5%+22.5%+79.1%−53.8%———————————
CME CME Group Inc.11 of 23+19.8%+15.4%+31.3%−22.9%+29.5%−6.3%+9.7%+32.1%+32.4%+33.9%+4.4%+18.3%+64.0%+11.4%−22.7%−2.7%+64.3%−68.8%+35.3%+39.5%+61.8%+219%+67.5%——————
KRE State Street SPDR S&P Regional Banking ETF7 of 19+10.2%+18.6%−7.6%−15.1%+39.3%−7.4%+27.4%−19.0%+7.5%+35.0%+4.9%+1.8%+47.5%+16.9%−5.9%+20.7%−22.0%−18.6%−22.0%——————————
BX Blackstone Inc.9 of 18−7.8%+35.1%+82.8%−40.0%+107%+19.8%+96.3%+0.1%+27.4%−1.5%−5.0%+13.9%+114%+15.7%+3.4%+12.7%+117%−67.4%———————————
FDS FactSet Research Systems Inc.16 of 29−38.9%+1.6%+20.0%−16.8%+47.5%+25.1%+35.5%+5.0%+19.4%+1.8%+16.7%+31.3%+24.9%+2.2%−5.9%+44.1%+51.1%−19.5%−0.7%+37.9%+6.3%+54.2%+36.0%−18.6%−5.3%−6.7%+94.2%+101%+46.5%
MORN Morningstar, Inc.7 of 20−35.0%+18.3%+33.1%−36.3%+48.2%+54.5%+38.9%+14.3%+33.4%−7.5%+25.6%−16.4%+24.9%+6.6%+12.3%+9.9%+36.2%−54.4%+72.6%+30.0%—————————
TRI Thomson Reuters Corporation8 of 23−16.6%+11.1%+29.8%−3.1%+48.3%+16.6%+51.4%+13.3%+2.2%+19.1%−3.4%+10.1%+34.5%+13.3%−26.2%+18.7%+14.5%−26.3%+0.4%+22.1%−0.1%−0.6%+40.4%——————
ICE Intercontinental Exchange, Inc.10 of 20+9.9%+17.5%+27.1%−23.9%+19.9%+26.2%+24.5%+8.1%+26.6%+11.5%+18.3%−1.3%+82.2%+2.7%+1.2%+6.1%+36.2%−57.2%+78.4%+197%—————————
VRSK Verisk Analytics, Inc.6 of 16−18.2%+16.0%+36.2%−22.3%+10.8%+39.9%+37.9%+13.6%+18.3%+5.6%+20.0%−2.5%+28.9%+27.0%+17.8%+12.5%—————————————
SPGI S&P Global Inc.11 of 29+5.7%+13.9%+32.8%−28.4%+44.7%+21.4%+62.3%+1.4%+59.3%+10.5%+12.3%+15.5%+45.9%+30.1%+26.6%+12.0%+49.3%−45.5%−34.7%+33.5%+14.2%+33.0%+17.8%+0.8%+5.7%−3.2%+22.8%+41.1%+64.4%
TRU TransUnion4 of 10−7.0%+35.6%+21.8%−51.9%+19.9%+16.3%+51.3%+3.7%+77.7%+12.2%———————————————————
EFX Equifax Inc.8 of 29−14.2%+3.7%+28.2%−33.1%+52.8%+39.0%+52.3%−20.0%+0.9%+7.3%+39.3%+18.6%+29.5%+41.9%+10.9%+16.2%+17.2%−26.6%−10.0%+7.2%+35.8%+15.2%+6.2%−3.9%−15.2%+23.5%−30.3%−2.7%+17.0%
HYG iShares iBoxx $ High Yield Corporate Bond ETF5 of 18+8.6%+8.0%+11.6%−11.0%+3.8%+4.5%+14.1%−2.0%+6.1%+13.4%−5.0%+1.9%+5.7%+11.7%+6.7%+11.9%+28.5%−17.6%———————————
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF5 of 23+7.9%+0.9%+9.4%−17.9%−1.8%+11.0%+17.4%−3.8%+7.0%+6.2%−1.3%+8.2%−2.0%+10.6%+9.8%+9.3%+8.4%+2.4%+3.7%+4.2%+1.1%+5.7%+7.3%——————
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Risk and diversification

How MCO 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 MCO's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents MCO's five deepest drawdowns since it began trading in 1994, 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 MCO fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringMCO fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−78.7%−46.2%Feb 2007Nov 200821 monthsMay 20134.5 years
Covid crash−42.0%−33.7%Feb 2020Mar 20201 monthJul 20204 months
2022 bear market−41.7%−20.8%Oct 2021Oct 202212 monthsFeb 202416 months
No named crash−37.1%+1.9%Apr 1999Aug 19994 monthsOct 200014 months
No named crash−35.1%−13.7%Jun 1998Sep 19983 monthsFeb 19995 months

How did MCO do in stock market crashes?

This section measures how far MCO, 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 MCO.

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
MCO This pageMoody's Corporation—−3.4%−37.6%−42.0%−26.1%−4.6%−29.3%−27.6%−0.7%−69.3%−18.5%
SPY S&P 500State Street SPDR S&P 500 ETF6 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
CBOE Cboe Global Markets, Inc.5 of 7−3.7%−16.4%−38.6%−18.9%−20.4%−17.0%−11.8%———
NDAQ Nasdaq, Inc.6 of 9−5.7%−27.8%−37.1%−16.7%−6.4%−10.1%−16.1%−5.3%−68.5%—
BLK BlackRock, Inc.5 of 10−7.2%−40.8%−42.3%−25.2%−7.1%−19.9%−23.9%0.0%−60.4%−33.0%
MSCI MSCI Inc.6 of 8−2.5%−35.8%−32.2%−24.6%−6.1%−13.3%−26.3%−1.7%——
CME CME Group Inc.5 of 9−3.4%−31.7%−37.4%−9.4%−4.3%−17.3%−18.0%−1.9%−77.5%—
KRE State Street SPDR S&P Regional Banking ETF3 of 9−23.0%−27.5%−49.6%−28.5%−5.9%−28.0%−27.2%−1.9%−66.0%—
BX Blackstone Inc.0 of 9−12.3%−38.5%−42.6%−29.1%−4.2%−37.7%−35.6%−3.5%−84.9%—
FDS FactSet Research Systems Inc.6 of 10−3.0%−25.9%−33.6%−19.7%−5.7%−22.3%−18.4%−2.2%−54.4%−59.0%
MORN Morningstar, Inc.5 of 9−10.0%−37.3%−35.4%−19.4%−4.9%−11.2%−16.7%−0.7%−67.9%—
TRI Thomson Reuters Corporation7 of 9−2.4%−19.9%−35.4%−9.3%−7.0%−17.4%−25.1%−2.0%−56.6%—
ICE Intercontinental Exchange, Inc.5 of 9−7.0%−33.8%−33.0%−13.3%−9.4%−12.7%−19.3%−2.0%−73.9%—
VRSK Verisk Analytics, Inc.6 of 8−2.6%−28.4%−28.5%−17.4%−6.6%−19.1%−8.0%−1.0%——
SPGI S&P Global Inc.6 of 10−4.2%−36.3%−38.1%−24.6%−6.2%−21.3%−20.8%−0.4%−66.4%−29.5%
TRU TransUnion1 of 6−6.4%−52.7%−45.1%−29.8%−4.8%−25.0%————
EFX Equifax Inc.4 of 10−3.4%−42.3%−35.8%−32.3%−7.6%−17.9%−16.9%−0.5%−49.8%−48.6%
HYG iShares iBoxx $ High Yield Corporate Bond ETF9 of 9−1.1%−15.3%−22.0%−6.4%−1.5%−10.5%−9.8%0.0%−34.2%—
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF9 of 9−0.1%−21.3%−21.8%−2.6%−1.2%−2.7%−3.2%0.0%−21.5%—
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How closely does MCO 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 MCO 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 MCO's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
MCO This pageMoody's Corporation131%151%0.871.26
CME CME Group Inc.50%11%4.480.33
CBOE Cboe Global Markets, Inc.79%50%1.590.53
MSCI MSCI Inc.131%121%1.081.12
NDAQ Nasdaq, Inc.104%97%1.070.91
TRI Thomson Reuters Corporation69%67%1.040.63
ICE Intercontinental Exchange, Inc.88%94%0.940.84
BX Blackstone Inc.156%170%0.921.48
VRSK Verisk Analytics, Inc.63%73%0.870.73
SPGI S&P Global Inc.107%125%0.851.04
HYG iShares iBoxx $ High Yield Corporate Bond ETF34%40%0.840.39
BLK BlackRock, Inc.127%157%0.811.30
MORN Morningstar, Inc.93%117%0.791.07
KRE State Street SPDR S&P Regional Banking ETF86%117%0.731.12
FDS FactSet Research Systems Inc.71%97%0.730.76
LQD iShares iBoxx $ Investment Grade Corporate Bond ETF25%39%0.640.33
TRU TransUnion142%228%0.621.47
EFX Equifax Inc.103%191%0.541.39
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What diversifies MCO?

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

ETFs

InvestmentCorrelation5Y returnSharpe20222018201620082007199980/20 mix volatility80/20 mix annual return
MCO Moody's Corporation (this page)1.00+33.4%0.35−28.0%−4.1%−4.5%−43.0%−48.0%−0.5%25.6%+5.9%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.33+225%1.34+6.0%−19.8%+1.1%−20.8%−7.4%—21.5%+10.4%
GLD CommoditiesSPDR Gold Shares0.19+126%0.96−0.8%−1.9%+8.0%+4.9%+30.4%—21.4%+9.0%
XLE EnergyState Street Energy Select Sector SPDR ETF0.26+177%0.93+64.4%−18.2%+28.0%−39.0%+36.8%+18.1%22.4%+10.0%
EWT TechnologyiShares MSCI Taiwan ETF0.46+153%0.89−28.9%−9.9%+17.7%−45.3%+6.4%—23.3%+9.5%
AMLP EnergyAlerian MLP ETF0.45+111%0.89+25.5%−12.6%+14.9%———22.4%+8.8%
DBMF AlternativesiMGP DBi Managed Futures Strategy ETF-0.39+59.7%0.82+21.6%—————19.7%+7.6%
SOXX Broad MarketiShares Semiconductor ETF0.47+237%0.82−35.1%−6.5%+38.3%−51.7%−2.2%—25.0%+11.7%
DBA AlternativesInvesco DB Agriculture Fund0.18+66.4%0.81+2.5%−8.7%−3.1%−19.1%——21.0%+7.4%

Stocks

InvestmentCorrelation5Y returnSharpe20222018201620082007199980/20 mix volatility80/20 mix annual return
MCO Moody's Corporation (this page)1.00+33.4%0.35−28.0%−4.1%−4.5%−43.0%−48.0%−0.5%25.6%+5.9%
CAH Medical - DistributionCardinal Health, Inc.0.32+479%1.55+54.1%−24.5%−17.5%−39.6%−9.8%−36.8%22.7%+12.5%
CLS Hardware, Equipment & PartsCelestica Inc.0.28+3,143%1.47+1.3%−16.3%+7.4%−20.5%−25.7%+350%26.3%+24.5%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.30+1,636%1.46+17.0%+0.8%+18.3%−15.2%+2.1%−58.7%24.7%+20.8%
MCK Medical - DistributionMcKesson Corporation0.20+413%1.44+51.8%−28.4%−28.3%−40.4%+29.7%−71.3%22.1%+12.0%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.19+690%1.41+86.6%−8.2%+0.7%———22.7%+14.6%
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Common questions

What was MCO's worst drawdown?

MCO's deepest decline since it began trading in 1994 was 78.7%, from February 2007 to November 2008. It took about four years from the low to climb back to its old high.

What were MCO's best and worst years?

Over 29 full calendar years, MCO's best year was 2019, when it returned 71.3%. Its worst was 2007, with a return of -48.0%.

Is there a better investment than MCO?

Among MCO's popular alternatives, CBOE, NDAQ and CME earned more than MCO with less volatility over the past 5 years. CBOE returned 21.5% a year at 25.1% volatility, against 5.9% a year at 26.9%. Looking beyond its popular alternatives, CTAS (business services) and SEIC (asset management) earned more than MCO with less volatility over the past 5 years. CTAS returned 16.5% a year at 23.1% volatility, against 5.9% a year at 26.9%.

Is MCO more volatile than the S&P 500?

Yes. MCO's volatility over the past 5 years was 26.9%, 1.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MCO's return lands within 26.9% 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 MCO's Sharpe ratio?

MCO's Sharpe ratio over the past 5 years was 0.35, against 0.79 for the S&P 500, so MCO 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 MCO with the S&P 500?

Over the past 5 years, MCO's monthly returns had a correlation of 0.82 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against MCO instead: the lower it is, the more that option would diversify a MCO holding.

What are the best alternatives to MCO?

Of the 17 popular alternatives we compared, three outperformed MCO in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: CBOE, NDAQ and BLK.

Did MCO outperform the S&P 500?

MCO finished ahead of the S&P 500 (SPY) in 18 of 29 full calendar years. In 2025, it returned +8.7%, against +17.7% for the index.

How did MCO do in stock market crashes?

MCO fell less than the S&P 500 (SPY) in three of the ten major crashes it has traded through, and further in six. The clearest case was the 2015 China and oil sell-off, when MCO fell 29.3% and the S&P 500 fell 12.8%.

What diversifies MCO?

These had a low correlation with MCO over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.33), GLD (correlation 0.19) and XLE (correlation 0.26); among large stocks, CAH (correlation 0.32), CLS (correlation 0.28) and FIX (correlation 0.30). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to MCO

Other stocks and ETFs