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Relative Intelligence · Industrial Conglomerates

How 3M (MMM) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on MMM alone. It places MMM (3M Company) against 19 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where MMM stands in the market, and of the alternatives worth a closer look.

Period covered: MMM'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 MMM →Chart MMM vs. 19 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in MMM over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of MMM over the same span and MMM'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. 519 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of MMM; 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$200,000$500,000199720022007201220172022$10,000$100,00019972004201120182025
  • PH$505,227+4,952% total · +14.5% a year
  • FAST$485,606+4,756% total · +14.3% a year
  • ITT$446,521+4,365% total · +14.0% a year
  • NDSN$336,601+3,266% total · +12.9% a year
  • IEX$231,670+2,217% total · +11.4% a year
  • ITW$188,355+1,784% total · +10.7% a year
  • SNA$165,306+1,553% total · +10.2% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • EMR$115,655+1,057% total · +8.8% a year
  • MMM$104,353+944% total · +8.4% 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. 1,832 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of MMM; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000202120222023202420252026$0$10,000$20,000$30,000$40,000202120222023202420252026
  • PH$36,392+264% total · +29.5% a year
  • ITT$24,779+148% total · +19.9% a year
  • FAST$21,648+116% total · +16.7% a year
  • SNA$19,828+98.3% total · +14.7% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • EMR$18,174+81.7% total · +12.7% a year
  • NDSN$14,600+46.0% total · +7.9% a year
  • ITW$14,020+40.2% total · +7.0% a year
  • MMM$13,669+36.7% total · +6.5% a year
  • IEX$11,752+17.5% total · +3.3% a year
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MMM 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
$88B
Industry
Conglomerates
Price history from
October 1986

Returns

Past 1 year
+12.8%total return
Past 3 years
+159%+37.3% a year
Past 5 years
+37.2%+6.5% a year
Past 10 years
+76.0%+5.8% a year
Best calendar year
+55.2%2013
Worst calendar year
−29.4%2008
Losing years
10 of 29full calendar years

Risk

Volatility
28.8%typical yearly swing, 5 years
Sharpe ratio
0.36return per unit of risk, 5 years
Worst decline ever
−57.4%Jan 2018 to Oct 2023
From its all-time high
−6.3%below the peak

MMM against the whole market

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

How does MMM rank among all stocks?

This section ranks MMM 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 MMM 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.

MeasureMMMRankStanding
1-year return+12.8%1,479 of 3,287top 45%
3-year return+159%550 of 3,017top 18%
5-year return+37.2%1,252 of 2,893top 43%
10-year return+76.0%1,439 of 2,202bottom 36%
Volatility, 5 years28.8%623 of 2,893top 22%
Sharpe ratio, 5 years0.361,355 of 2,893top 47%
Worst decline, past 10 years−57.4%774 of 2,187top 35%

What has beaten MMM 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). MMM sits where the dashed lines cross. Anything in the green box above and to the left earned more than MMM 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 MMM; faint dots are 93 more of the 693 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.

10.0%15.0%20.0%25.0%30.0%35.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than MMMPM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%AMGN: +19.6% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%TD: +15.8% a year, volatility 20.0%VGT: +18.4% a year, volatility 26.0%TRV: +22.4% a year, volatility 22.3%GWW: +26.3% a year, volatility 24.9%BNS: +12.9% a year, volatility 19.9%HLT: +21.0% a year, volatility 26.8%MNST: +17.2% a year, volatility 24.9%CTAS: +16.5% a year, volatility 23.1%CME: +11.2% a year, volatility 20.8%ADP: +9.0% a year, volatility 22.9%CCEP: +19.7% a year, volatility 23.2%ALL: +17.0% a year, volatility 26.2%CBOE: +21.5% a year, volatility 25.1%IX: +17.9% a year, volatility 25.4%SLF: +11.7% a year, volatility 19.4%FMX: +14.0% a year, volatility 25.7%XLV: +8.4% a year, volatility 15.3%DGX: +12.3% a year, volatility 22.5%EXPD: +12.0% a year, volatility 27.1%EWT: +20.4% a year, volatility 24.2%CIBR: +14.1% a year, volatility 26.1%VLUE: +15.9% a year, volatility 18.4%AIZ: +13.3% a year, volatility 25.3%SEIC: +12.7% a year, volatility 22.3%MSGS: +18.4% a year, volatility 25.6%NEU: +21.0% a year, volatility 26.8%THG: +14.4% a year, volatility 22.9%PDBC: +11.7% a year, volatility 19.3%FLTW: +21.8% a year, volatility 24.3%RSPT: +16.9% a year, volatility 25.1%MSM: +13.3% a year, volatility 25.1%IWX: +12.7% a year, volatility 13.8%GNR: +10.7% a year, volatility 20.1%RY: +17.3% a year, volatility 18.2%FV: +9.7% a year, volatility 21.1%HACK: +12.6% a year, volatility 25.8%FBT: +10.8% a year, volatility 22.2%FXL: +11.0% a year, volatility 26.2%SRCE: +15.1% a year, volatility 27.0%XOM: +27.1% a year, volatility 26.5%COMT: +13.1% a year, volatility 21.1%CTBI: +16.0% a year, volatility 26.0%CHT: +7.7% a year, volatility 13.3%NPK: +16.3% a year, volatility 27.3%NANR: +17.4% a year, volatility 22.6%DJP: +11.2% a year, volatility 18.9%TRST: +15.5% a year, volatility 26.8%CVX: +19.5% a year, volatility 25.2%RCBC: +14.6% a year, volatility 27.2%EIG: +9.1% a year, volatility 23.7%QVAL: +13.7% a year, volatility 21.4%VTI: +11.5% a year, volatility 17.5%GSBC: +9.4% a year, volatility 27.0%SHEL: +21.0% a year, volatility 24.8%PJP: +11.2% a year, volatility 16.6%VOO: +12.8% a year, volatility 16.9%EBF: +11.2% a year, volatility 21.4%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%TTE: +18.0% a year, volatility 25.8%JPM: +17.3% a year, volatility 24.3%MO: +17.8% a year, volatility 21.4%JNJ: +12.7% a year, volatility 17.9%E: +23.0% a year, volatility 25.6%DXJ: +26.6% a year, volatility 19.1%MFC: +22.6% a year, volatility 24.0%LVHI: +17.0% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%VXUS: +8.2% a year, volatility 16.4%QQQ: +14.5% a year, volatility 23.0%NVS: +17.1% a year, volatility 20.7%VTV: +12.1% a year, volatility 13.7%XLE: +22.6% a year, volatility 25.5%RTX: +18.6% a year, volatility 24.3%MET: +12.0% a year, volatility 25.4%VEA: +9.3% a year, volatility 16.9%TJX: +19.9% a year, volatility 22.3%LIN: +11.5% a year, volatility 20.9%KOF: +22.3% a year, volatility 24.7%PGR: +21.3% a year, volatility 25.6%IHG: +21.4% a year, volatility 26.6%CB: +15.7% a year, volatility 20.4%FSTA: +7.7% a year, volatility 13.6%PBA: +13.8% a year, volatility 21.5%BNY: +22.7% a year, volatility 24.4%CM: +19.2% a year, volatility 21.6%VIG: +10.4% a year, volatility 14.1%MMM: +6.5% a year, volatility 28.8%SPY (S&P 500): +12.7% a year, volatility 17.1%FAST: +15.8% a year, volatility 24.6%EMR: +12.7% a year, volatility 27.7%SNA: +12.9% a year, volatility 23.6%ITT: +17.1% a year, volatility 29.8%NDSN: +7.1% a year, volatility 25.2%ITW: +6.7% a year, volatility 21.4%WTS: +15.3% a year, volatility 28.4%WAB: +25.6% a year, volatility 26.2%DCI: +9.5% a year, volatility 23.4%AWI: +12.5% a year, volatility 26.6%TT: +22.7% a year, volatility 27.7%DE: +14.4% a year, volatility 29.9%CAH: +42.1% a year, volatility 24.7%ABBV: +26.1% a year, volatility 23.4%V: +12.8% a year, volatility 22.9%KO: +14.7% a year, volatility 16.8%MA: +12.4% a year, volatility 23.8%AAPL: +18.5% a year, volatility 28.0%GLD: +17.7% a year, volatility 18.9%VHT: +7.3% a year, volatility 15.4%MMMSPY (S&P 500)FASTEMRSNAITTNDSNITWWTSWABDCIAWITTDECAHABBVVKOAAPLGLDVHT10.0%15.0%20.0%25.0%30.0%35.0%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 MMMPM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%AMGN: +19.6% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%TD: +15.8% a year, volatility 20.0%VGT: +18.4% a year, volatility 26.0%TRV: +22.4% a year, volatility 22.3%GWW: +26.3% a year, volatility 24.9%BNS: +12.9% a year, volatility 19.9%HLT: +21.0% a year, volatility 26.8%MNST: +17.2% a year, volatility 24.9%CTAS: +16.5% a year, volatility 23.1%CME: +11.2% a year, volatility 20.8%ADP: +9.0% a year, volatility 22.9%CCEP: +19.7% a year, volatility 23.2%ALL: +17.0% a year, volatility 26.2%CBOE: +21.5% a year, volatility 25.1%IX: +17.9% a year, volatility 25.4%SLF: +11.7% a year, volatility 19.4%FMX: +14.0% a year, volatility 25.7%XLV: +8.4% a year, volatility 15.3%DGX: +12.3% a year, volatility 22.5%EXPD: +12.0% a year, volatility 27.1%EWT: +20.4% a year, volatility 24.2%CIBR: +14.1% a year, volatility 26.1%VLUE: +15.9% a year, volatility 18.4%AIZ: +13.3% a year, volatility 25.3%SEIC: +12.7% a year, volatility 22.3%MSGS: +18.4% a year, volatility 25.6%NEU: +21.0% a year, volatility 26.8%THG: +14.4% a year, volatility 22.9%PDBC: +11.7% a year, volatility 19.3%FLTW: +21.8% a year, volatility 24.3%RSPT: +16.9% a year, volatility 25.1%MSM: +13.3% a year, volatility 25.1%IWX: +12.7% a year, volatility 13.8%GNR: +10.7% a year, volatility 20.1%RY: +17.3% a year, volatility 18.2%FV: +9.7% a year, volatility 21.1%HACK: +12.6% a year, volatility 25.8%FBT: +10.8% a year, volatility 22.2%FXL: +11.0% a year, volatility 26.2%SRCE: +15.1% a year, volatility 27.0%XOM: +27.1% a year, volatility 26.5%COMT: +13.1% a year, volatility 21.1%CTBI: +16.0% a year, volatility 26.0%CHT: +7.7% a year, volatility 13.3%NPK: +16.3% a year, volatility 27.3%NANR: +17.4% a year, volatility 22.6%DJP: +11.2% a year, volatility 18.9%TRST: +15.5% a year, volatility 26.8%CVX: +19.5% a year, volatility 25.2%RCBC: +14.6% a year, volatility 27.2%EIG: +9.1% a year, volatility 23.7%QVAL: +13.7% a year, volatility 21.4%VTI: +11.5% a year, volatility 17.5%GSBC: +9.4% a year, volatility 27.0%SHEL: +21.0% a year, volatility 24.8%PJP: +11.2% a year, volatility 16.6%VOO: +12.8% a year, volatility 16.9%EBF: +11.2% a year, volatility 21.4%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%TTE: +18.0% a year, volatility 25.8%JPM: +17.3% a year, volatility 24.3%MO: +17.8% a year, volatility 21.4%JNJ: +12.7% a year, volatility 17.9%E: +23.0% a year, volatility 25.6%DXJ: +26.6% a year, volatility 19.1%MFC: +22.6% a year, volatility 24.0%LVHI: +17.0% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%VXUS: +8.2% a year, volatility 16.4%QQQ: +14.5% a year, volatility 23.0%NVS: +17.1% a year, volatility 20.7%VTV: +12.1% a year, volatility 13.7%XLE: +22.6% a year, volatility 25.5%RTX: +18.6% a year, volatility 24.3%MET: +12.0% a year, volatility 25.4%VEA: +9.3% a year, volatility 16.9%TJX: +19.9% a year, volatility 22.3%LIN: +11.5% a year, volatility 20.9%KOF: +22.3% a year, volatility 24.7%PGR: +21.3% a year, volatility 25.6%IHG: +21.4% a year, volatility 26.6%CB: +15.7% a year, volatility 20.4%FSTA: +7.7% a year, volatility 13.6%PBA: +13.8% a year, volatility 21.5%BNY: +22.7% a year, volatility 24.4%CM: +19.2% a year, volatility 21.6%VIG: +10.4% a year, volatility 14.1%MMM: +6.5% a year, volatility 28.8%SPY (S&P 500): +12.7% a year, volatility 17.1%FAST: +15.8% a year, volatility 24.6%EMR: +12.7% a year, volatility 27.7%SNA: +12.9% a year, volatility 23.6%ITT: +17.1% a year, volatility 29.8%NDSN: +7.1% a year, volatility 25.2%ITW: +6.7% a year, volatility 21.4%WTS: +15.3% a year, volatility 28.4%WAB: +25.6% a year, volatility 26.2%DCI: +9.5% a year, volatility 23.4%AWI: +12.5% a year, volatility 26.6%TT: +22.7% a year, volatility 27.7%DE: +14.4% a year, volatility 29.9%CAH: +42.1% a year, volatility 24.7%ABBV: +26.1% a year, volatility 23.4%V: +12.8% a year, volatility 22.9%KO: +14.7% a year, volatility 16.8%MA: +12.4% a year, volatility 23.8%AAPL: +18.5% a year, volatility 28.0%GLD: +17.7% a year, volatility 18.9%VHT: +7.3% a year, volatility 15.4%MMMSPY (S&P 500)FASTEMRITTNDSNITWWABDCITTDECAHABBVKOAAPLGLDVHT
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than MMM?

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

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

Screen the whole market against MMM 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 MMM?lower diversifies moreExpenseper year
MMM3M Company · this page
+6.5%28.8%0.36−57.4%+76.0%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.550.09%
Popular alternativesbest 6 shownThe investments people most often weigh against MMM. 8 of 18 passed at least one test.
FASTFastenal Company · Industrial Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+15.8%24.6%0.72−30.7%+576%0.27—
EMREmerson Electric Co. · Industrial Machinery
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.7%27.7%0.57−50.8%+309%0.50—
SNASnap-on Incorporated · Industrial Machinery
Higher return, lower volatilityHigher Sharpe, smaller worst decline+12.9%23.6%0.63−47.4%+195%0.46—
ITTITT Inc. · Industrial Machinery
Higher return, similar volatilityHigher Sharpe, smaller worst decline+17.1%29.8%0.68−49.5%+539%0.57—
NDSNNordson Corporation · Industrial Machinery
Higher return in most periods+7.1%25.2%0.40−44.2%+262%0.54—
ITWIllinois Tool Works Inc. · Industrial Machinery
Similar return, lower volatility+6.7%21.4%0.41−37.9%+208%0.62—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Industrial Conglomerates and the categories next to it (Industrial Machinery, Building Products, Alternative Asset Management), plus MMM's specific themes. 17 of 58 passed at least one test.
WTSWatts Water Technologies, Inc. · Industrial Machinery
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+15.3%28.4%0.65−44.1%+539%0.51—
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Higher return, lower volatilityHigher return in most periods+25.6%26.2%1.00−64.1%+264%0.60—
DCIDonaldson Company, Inc. · Industrial Machinery
Higher return, lower volatilityHigher Sharpe, smaller worst decline+9.5%23.4%0.51−42.7%+182%0.53—
AWIArmstrong World Industries, Inc. · Building Products
Higher return, lower volatilityHigher Sharpe, smaller worst decline+12.5%26.6%0.58−46.4%+368%0.48—
TTTrane Technologies plc · Building Products
Higher return, similar volatilityHigher Sharpe, smaller worst decline+22.7%27.7%0.88−40.5%+955%0.43—
DEDeere & Company · Industrial Machinery
Higher return, similar volatilityHigher Sharpe, smaller worst decline+14.4%29.9%0.60−37.9%+755%0.45—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,165 of 3,557 passed at least one test.
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+42.1%24.7%1.55−46.1%+349%0.27—
ABBVAbbVie Inc. · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+26.1%23.4%1.11−45.1%+603%0.25—
VVisa Inc. · Payment Processing
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.8%22.9%0.64−36.4%+429%0.47—
KOThe Coca-Cola Company · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+14.7%16.8%0.91−37.0%+204%0.51—
MAMastercard Incorporated · Payment Processing
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.4%23.8%0.61−41.0%+541%0.51—
AAPLApple Inc. · Computer Hardware
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+18.5%28.0%0.75−38.5%+1,168%0.39—
GLDSPDR Gold Shares · Gold
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+17.7%18.9%0.96−26.4%+213%0.210.40%
VHTVanguard Health Care ETF · Health Care Equity
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+7.3%15.4%0.53−28.9%+200%0.610.09%
What these numbers mean for MMM
Annual return
MMM returned 6.5% 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 $13,700. 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
MMM's volatility over the past 5 years was 28.8%, 1.7 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MMM's return lands within 28.8% 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
MMM's Sharpe ratio over the past 5 years was 0.36, against 0.79 for the S&P 500, so MMM 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
MMM's worst fall from a peak to a low over the past 10 years was 57.4%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 57.4% fall takes a 134% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, MMM's monthly returns had a correlation of 0.55 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against MMM instead: the lower it is, the more that option would diversify a MMM holding. Guide: Correlation and diversification →
Show all 693 stocks and funds worth at least $500 million that earned more than MMM 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 MMMExpense
1
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.27—
2
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.25—
3
VVisa Inc. · Payment Processing
Whole market+12.8%22.9%0.64−36.4%+429%0.47—
4
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.51—
5
MAMastercard Incorporated · Payment Processing
Whole market+12.4%23.8%0.61−41.0%+541%0.51—
6
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.48—
7
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.33—
8
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.21—
9
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%0.14—
10
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%0.44—
11
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.35—
12
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.51—
13
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.330.09%
14
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.36—
15
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.36—
16
BNSThe Bank of Nova Scotia · Banks
Whole market+12.9%19.9%0.71−46.9%+187%0.47—
17
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+21.0%26.8%0.85−50.8%+694%0.41—
18
MNSTMonster Beverage Corporation · Food & Beverages
Whole market+17.2%24.9%0.77−30.4%+285%0.29—
19
CTASCintas Corporation · Business Services
Whole market+16.5%23.1%0.78−48.4%+808%0.55—
20
CMECME Group Inc. · Capital Markets
Whole market+11.2%20.8%0.62−37.4%+319%0.11—
21
ADPAutomatic Data Processing, Inc. · Business Services
Whole market+9.0%22.9%0.49−40.8%+320%0.43—
22
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Whole market+19.7%23.2%0.90−48.8%+292%0.48—
23
ALLThe Allstate Corporation · Property & Casualty Insurance
Whole market+17.0%26.2%0.73−41.4%+356%0.25—
24
CBOECboe Global Markets, Inc. · Capital Markets
Whole market+21.5%25.1%0.91−43.2%+463%0.28—
25
IXORIX Corporation · Diversified Financials
Whole market+17.9%25.4%0.78−42.5%+284%0.46—
26
SLFSun Life Financial Inc. · Life Insurance
Whole market+11.7%19.4%0.67−50.8%+255%0.37—
27
FMXFomento Económico Mexicano, S.A.B. de C.V. · Convenience Stores
Whole market+14.0%25.7%0.64−45.5%+79.7%0.14—
28
XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity
Whole market+8.4%15.3%0.60−28.4%+202%0.590.08%
29
DGXQuest Diagnostics Incorporated · Medical Diagnostics
Whole market+12.3%22.5%0.63−36.6%+243%0.58—
30
EXPDExpeditors International of Washington, Inc. · Freight & Logistics
Whole market+12.0%27.1%0.56−35.6%+349%0.43—
31
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+20.4%24.2%0.89−38.9%+468%0.250.59%
32
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Whole market+14.1%26.1%0.64−33.9%+454%0.210.58%
33
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+15.9%18.4%0.90−39.5%+286%0.550.15%
34
AIZAssurant, Inc. · Property & Casualty Insurance
Whole market+13.3%25.3%0.62−44.6%+312%0.31—
35
SEICSEI Investments Company · Asset Management
Whole market+12.7%22.3%0.65−51.8%+168%0.42—
36
MSGSMadison Square Garden Sports Corp. · Entertainment
Whole market+18.4%25.6%0.79−41.6%+432%0.31—
37
NEUNewMarket Corporation · Specialty Chemicals
Whole market+21.0%26.8%0.85−40.7%+165%0.21—
38
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.210.40%
39
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance
Whole market+14.4%22.9%0.70−40.1%+291%0.31—
40
PDBCInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF · Broad Commodities
Whole market+11.7%19.3%0.67−40.7%+153%0.050.74%
41
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.240.19%
42
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.9%25.1%0.75−33.7%+572%0.410.40%
43
MSMMSC Industrial Direct Co., Inc. · Industrial Distribution
Whole market+13.3%25.1%0.63−48.2%+184%0.57—
44
IWXiShares Russell Top 200 Value ETF · Broad Market
Whole market+12.7%13.8%0.94−35.8%+221%0.690.20%
45
GNRState Street SPDR S&P Global Natural Resources ETF · Natural Resources Equity
Whole market+10.7%20.1%0.61−48.6%+173%0.520.40%
46
FASTFastenal Company · Industrial Distribution
Popular alternative+15.8%24.6%0.72−30.7%+576%0.27—
47
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.50—
48
FVFirst Trust Dorsey Wright Focus 5 ETF · Broad Market
Whole market+9.7%21.1%0.55−34.0%+247%0.520.30%
49
HACKAmplify Cybersecurity ETF · Technology
Whole market+12.6%25.8%0.59−38.7%+373%0.240.60%
50
FBTFirst Trust NYSE Arca Biotechnology Index Fund · Healthcare
Whole market+10.8%22.2%0.58−33.3%+203%0.560.55%
51
FXLFirst Trust Technology AlphaDEX Fund · Technology
Whole market+11.0%26.2%0.53−38.5%+523%0.350.60%
52
SRCE1st Source Corporation · Banks - Regional
Whole market+15.1%27.0%0.66−51.7%+210%0.61—
53
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.1%26.5%1.04−61.0%+214%0.22—
54
COMTiShares GSCI Commodity Dynamic Roll Strategy ETF · Commodities
Whole market+13.1%21.1%0.69−39.2%+160%0.010.49%
55
CTBICommunity Trust Bancorp, Inc. · Banks - Regional
Whole market+16.0%26.0%0.70−43.0%+192%0.58—
56
CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications
Whole market+7.7%13.3%0.63−23.8%+101%0.22—
57
NPKNational Presto Industries, Inc. · Aerospace & Defense
Whole market+16.3%27.3%0.69−45.5%+181%0.05—
58
NANRState Street SPDR S&P North American Natural Resources ETF · Broad Market
Whole market+17.4%22.6%0.83−49.1%+241%0.450.35%
59
DJPiPath Bloomberg Commodity Index Total Return(SM) ETN · Commodities
Whole market+11.2%18.9%0.66−38.4%+120%0.120.70%
60
TRSTTrustCo Bank Corp NY · Banks - Regional
Whole market+15.5%26.8%0.68−49.5%+126%0.58—
61
CVXChevron Corporation · Integrated Oil & Gas
Whole market+19.5%25.2%0.84−55.8%+238%0.32—
62
RCBCRiver City Bank · Banks - Regional
Whole market+14.6%27.2%0.64−45.5%+345%0.18—
63
EIGEmployers Holdings, Inc. · Insurance - Specialty
Whole market+9.1%23.7%0.49−43.9%+123%0.29—
64
QVALAlpha Architect U.S. Quantitative Value ETF · Broad Market
Whole market+13.7%21.4%0.71−51.5%+230%0.620.28%
65
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.5%17.5%0.71−35.0%+302%0.560.03%
66
GSBCGreat Southern Bancorp, Inc. · Banks - Regional
Whole market+9.4%27.0%0.47−45.9%+150%0.52—
67
SHELShell plc · Integrated Oil & Gas
Whole market+21.0%24.8%0.90−67.2%+233%0.29—
68
PJPInvesco Pharmaceuticals ETF · Healthcare
Whole market+11.2%16.6%0.72−34.0%+135%0.600.58%
69
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.550.03%
70
EBFEnnis, Inc. · Specialty Business Services
Whole market+11.2%21.4%0.60−35.4%+163%0.40—
71
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.25—
72
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.47—
73
TTETotalEnergies SE · Integrated Oil & Gas
Whole market+18.0%25.8%0.78−59.6%+234%0.33—
74
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+537%0.59—
75
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%0.37—
76
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%0.40—
77
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.0%25.6%0.94−61.4%+278%0.35—
78
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.200.48%
79
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.38—
80
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.590.40%
81
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.27—
82
VXUSVanguard Total International Stock ETF · International Equity
Whole market+8.2%16.4%0.57−36.0%+140%0.560.05%
83
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.5%23.0%0.71−35.1%+553%0.340.18%
84
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.45—
85
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Whole market+12.1%13.7%0.90−36.8%+235%0.700.03%
86
XLEState Street Energy Select Sector SPDR ETF · Energy Equity
Whole market+22.6%25.5%0.93−66.8%+189%0.330.08%
87
RTXRTX Corporation · Aerospace & Defense
Whole market+18.6%24.3%0.83−52.0%+317%0.44—
88
METMetLife, Inc. · Life Insurance
Whole market+12.0%25.4%0.58−55.2%+240%0.50—
89
VEAVanguard FTSE Developed Markets ETF · Developed International Equity
Whole market+9.3%16.9%0.61−35.8%+153%0.590.03%
90
TJXThe TJX Companies, Inc. · Specialty Retail
Whole market+19.9%22.3%0.93−42.5%+361%0.42—
91
LINLinde plc · Chemicals
Whole market+11.5%20.9%0.63−32.6%+394%0.44—
92
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.3%24.7%0.94−55.1%+119%0.37—
93
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%0.18—
94
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.4%26.6%0.86−59.3%+383%0.37—
95
CBChubb Limited · Property & Casualty Insurance
Whole market+15.7%20.4%0.82−42.6%+248%0.37—
96
FSTAFidelity MSCI Consumer Staples Index ETF · Consumer Staples
Whole market+7.7%13.6%0.62−25.1%+128%0.550.08%
97
PBAPembina Pipeline Corporation · Oil & Gas Midstream
Whole market+13.8%21.5%0.71−70.9%+172%0.42—
98
BNYBank of New York Mellon Corp · Banks
Whole market+22.7%24.4%0.97−50.5%+341%0.54—
99
CMCanadian Imperial Bank of Commerce · Banks
Whole market+19.2%21.6%0.93−47.3%+395%0.48—
100
VIGVanguard Dividend Appreciation ETF · US Dividend Equity
Whole market+10.4%14.1%0.78−31.7%+258%0.670.04%

MMM against its popular alternatives

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

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

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

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%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityMMM: 6.5% a year, volatility 28.8%SPY (S&P 500): 12.7% a year, volatility 17.1%EMR: 12.7% a year, volatility 27.7%NDSN: 7.1% a year, volatility 25.2%FAST: 15.8% a year, volatility 24.6%PH: 27.4% a year, volatility 28.8%ITW: 6.7% a year, volatility 21.4%SNA: 12.9% a year, volatility 23.6%TEX: 4.0% a year, volatility 44.3%SWK: −9.6% a year, volatility 38.3%PNR: −5.2% a year, volatility 29.9%ITT: 17.1% a year, volatility 29.8%IEX: 2.7% a year, volatility 24.0%AVY: −1.9% a year, volatility 25.1%DOV: 4.4% a year, volatility 25.1%GGG: 3.5% a year, volatility 22.9%DD: 9.8% a year, volatility 30.0%SHW: 3.1% a year, volatility 27.1%HON: 1.5% a year, volatility 22.8%AOS: −0.4% a year, volatility 27.6%MMMSPY (S&P 500)EMRNDSNFASTPHITWSNATEXSWKPNRITTIEXAVYDOVGGGDDSHWHONAOS10.0%20.0%30.0%40.0%50.0%−10.0%0.0%10.0%20.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityMMM: 6.5% a year, volatility 28.8%SPY (S&P 500): 12.7% a year, volatility 17.1%EMR: 12.7% a year, volatility 27.7%NDSN: 7.1% a year, volatility 25.2%FAST: 15.8% a year, volatility 24.6%PH: 27.4% a year, volatility 28.8%ITW: 6.7% a year, volatility 21.4%SNA: 12.9% a year, volatility 23.6%TEX: 4.0% a year, volatility 44.3%SWK: −9.6% a year, volatility 38.3%PNR: −5.2% a year, volatility 29.9%ITT: 17.1% a year, volatility 29.8%IEX: 2.7% a year, volatility 24.0%AVY: −1.9% a year, volatility 25.1%DOV: 4.4% a year, volatility 25.1%GGG: 3.5% a year, volatility 22.9%DD: 9.8% a year, volatility 30.0%SHW: 3.1% a year, volatility 27.1%HON: 1.5% a year, volatility 22.8%AOS: −0.4% a year, volatility 27.6%MMMSPY (S&P 500)NDSNFASTPHITWTEXSWKPNRITTIEXAVYDOVGGGDDHON
All figures
InvestmentAnnual returnVolatility
PH Parker-Hannifin Corporation+27.4%28.8%
ITT ITT Inc.+17.1%29.8%
FAST Fastenal Company+15.8%24.6%
SNA Snap-on Incorporated+12.9%23.6%
EMR Emerson Electric Co.+12.7%27.7%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
DD DuPont de Nemours, Inc.+9.8%30.0%
NDSN Nordson Corporation+7.1%25.2%
ITW Illinois Tool Works Inc.+6.7%21.4%
MMM This page3M Company+6.5%28.8%
DOV Dover Corporation+4.4%25.1%
TEX Terex Corporation+4.0%44.3%
GGG Graco Inc.+3.5%22.9%
SHW The Sherwin-Williams Company+3.1%27.1%
IEX IDEX Corporation+2.7%24.0%
HON Honeywell International Inc.+1.5%22.8%
AOS A. O. Smith Corporation−0.4%27.6%
AVY Avery Dennison Corporation−1.9%25.1%
PNR Pentair plc−5.2%29.9%
SWK Stanley Black & Decker, Inc.−9.6%38.3%
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Has MMM consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than MMM 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
MMM 3M Company (this page)—+3.9%+8.2%+14.3%+7.4%+12.8%+159%+37.2%+76.0%28.8%0.36−57.4%—$88B—
EMR QualifiedEmerson Electric Co.4/5 short2/3 long+5.8%+17.9%+10.1%+19.5%+25.0%+84.9%+82.1%+309%27.7%0.57−50.8%—$90B—
NDSN QualifiedNordson Corporation4/5 short2/3 long+4.0%+15.0%+16.2%+36.9%+40.5%+57.7%+40.9%+262%25.2%0.40−44.2%—$18B—
FAST QualifiedFastenal Company3/5 short2/3 long+4.0%+16.0%+14.6%+29.8%+22.8%+92.7%+108%+576%24.6%0.72−30.7%—$59B—
ITT Industrial - MachineryITT Inc.2/5 short2/3 long−4.6%+2.8%−9.8%+13.3%+14.6%+112%+121%+539%29.8%0.68−49.5%—$18B—
PH Industrial - MachineryParker-Hannifin Corporation1/5 short2/3 long−1.4%−0.4%−4.8%+6.3%+28.7%+161%+235%+789%28.8%0.99−54.7%—$119B—
ITW Industrial - MachineryIllinois Tool Works Inc.1/5 short2/3 long+3.5%+1.9%+2.1%+12.3%+11.7%+32.1%+38.4%+208%21.4%0.41−37.9%—$78B—
SNA Manufacturing - Tools & AccessoriesSnap-on Incorporated0/5 short2/3 long−0.9%−9.3%−4.0%+6.4%+10.4%+56.9%+83.2%+195%23.6%0.63−47.4%—$19B—
IEX Industrial - MachineryIDEX Corporation3/5 short1/3 long+5.1%+5.7%+14.1%+32.0%+41.9%+26.1%+14.1%+205%24.0%0.23−35.5%—$17B—
AVY Packaging & ContainersAvery Dennison Corporation3/5 short1/3 long+5.2%+13.1%+4.8%−0.7%+13.7%+8.6%−9.1%+182%25.1%0.05−43.5%—$13B—
DOV Industrial - MachineryDover Corporation2/5 short1/3 long+5.9%−5.7%−10.7%+1.5%+17.9%+51.3%+24.2%+320%25.1%0.30−45.2%—$27B—
GGG Industrial - MachineryGraco Inc.2/5 short1/3 long+6.3%+10.5%−6.3%−0.5%−0.1%+20.3%+18.5%+263%22.9%0.26−30.6%—$13B—
DD ChemicalsDuPont de Nemours, Inc.2/5 short1/3 long+2.4%−1.6%−4.9%+9.8%+33.2%+53.7%+59.2%+65.8%30.0%0.46−73.0%—$18B—
SHW Chemicals - SpecialtyThe Sherwin-Williams Company1/5 short1/3 long+4.6%+4.1%−1.8%+3.2%+2.4%+45.2%+16.5%+300%27.1%0.25−42.5%—$82B—
HON ConglomeratesHoneywell International Inc.0/5 short1/3 long+3.3%−5.4%−10.7%+5.2%+6.8%+27.0%+7.5%+160%22.8%0.18−43.0%—$68B—
TEX Industrial - MachineryTerex Corporation0/5 short1/3 long−10.7%−16.1%−14.8%−3.6%−3.4%+14.8%+21.6%+141%44.3%0.31−74.1%—$6.0B—
SWK Manufacturing - Tools & AccessoriesStanley Black & Decker, Inc.4/5 short0/3 long+6.1%+8.5%+27.7%+26.8%+42.0%+36.2%−39.7%+2.0%38.3%-0.07−71.3%—$14B—
SOLV Medical - Instruments & SuppliesSolventum Corporation4/5 short0/3 long−2.8%+9.0%+23.3%+9.3%+18.6%—————−40.0%—$15B—
AOS Industrial - MachineryA. O. Smith Corporation1/5 short0/3 long+4.5%+1.7%−8.2%−11.4%−12.8%−5.4%−1.8%+46.1%27.6%0.12−46.8%—$8.1B—
PNR Industrial - MachineryPentair plc0/5 short0/3 long−5.2%−14.5%−41.3%−49.4%−51.0%−12.3%−23.3%+57.3%29.9%-0.03−53.2%—$8.4B—
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How did MMM do year by year?

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

InvestmentYears ahead of MMM20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
MMM This page3M Company—+26.4%+46.6%−2.2%−29.1%+5.5%+3.5%−3.7%−16.5%+35.5%+22.4%−5.4%+20.5%+55.1%+17.3%−2.4%+7.6%+49.5%−29.4%+11.2%+3.4%−3.1%−1.4%+40.7%+6.4%+0.2%+26.2%+41.0%−11.0%+1.1%
Rank among alternativesTop quarter in 7 of 293 of 201 of 1918 of 1915 of 1918 of 1919 of 1918 of 1910 of 1911 of 197 of 1910 of 194 of 195 of 1914 of 199 of 1918 of 195 of 197 of 1910 of 1916 of 1914 of 1918 of 196 of 196 of 1915 of 193 of 194 of 1915 of 1916 of 19
SPY S&P 500State Street SPDR S&P 500 ETF14 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%
EMR Emerson Electric Co.14 of 29+8.9%+29.7%+3.8%+5.7%+18.2%+8.6%+31.6%−11.9%+29.1%+21.0%−19.7%−9.6%+36.1%+17.3%−16.3%+37.8%+20.7%−33.6%+31.5%+20.7%+9.2%+11.0%+31.4%−8.3%−25.7%+40.8%−3.0%+9.2%+19.1%
NDSN Nordson Corporation16 of 29+17.0%−20.2%+12.4%−5.9%+28.1%+24.5%+37.9%−17.6%+31.8%+76.8%−16.7%+6.0%+18.8%+54.8%−9.5%+52.0%+93.0%−43.5%+17.9%+24.9%+3.0%+17.7%+42.9%−3.8%+5.8%+8.0%−4.2%+14.1%−26.9%
FAST Fastenal Company15 of 29+14.0%+13.5%+41.4%−24.4%+34.0%+36.6%+45.0%−1.6%+17.2%+18.6%−11.8%+2.3%+3.4%+10.1%+48.5%+47.6%+22.0%−12.3%+14.0%−7.1%+28.3%+25.0%+34.3%+12.6%+20.9%+21.9%+2.3%+15.0%−16.0%
ITT ITT Inc.18 of 29+22.5%+20.8%+48.9%−19.5%+33.9%+5.5%+54.6%−8.6%+40.1%+7.6%−9.1%−5.9%+87.4%+23.4%−1.5%+6.7%+10.0%−29.6%+17.1%+11.3%+22.5%+14.8%+23.3%+21.3%+31.9%+17.8%−14.7%+28.4%+30.7%
PH Parker-Hannifin Corporation15 of 29+39.5%+39.6%+60.8%−6.9%+18.3%+34.8%+40.7%−24.0%+44.3%+47.6%−23.1%+2.0%+53.9%+13.7%−10.1%+62.7%+29.4%−42.5%+48.6%+18.0%−11.8%+28.9%+31.2%+2.1%+5.7%−12.5%+59.3%−27.5%+80.2%
ITW Illinois Tool Works Inc.16 of 29−0.4%−1.0%+21.6%−8.5%+23.6%+16.4%+45.6%−22.1%+38.9%+35.0%+0.1%+15.0%+41.4%+33.6%−10.0%+14.4%+41.4%−32.7%+18.0%+7.1%−3.7%+11.7%+31.1%−2.9%+15.2%−10.6%+17.6%−2.6%+51.9%
SNA Snap-on Incorporated16 of 29+4.3%+20.7%+29.7%+8.9%+28.8%+4.0%+19.5%−14.9%+3.6%+1.5%+27.1%+26.8%+41.0%+59.4%−8.4%+37.5%+11.3%−16.3%+3.6%+30.2%+12.5%+10.0%+18.8%−13.6%+24.9%+8.8%−21.7%−18.4%+25.0%
IEX IDEX Corporation16 of 29−13.7%−2.4%−3.8%−2.2%+19.8%+17.2%+37.9%−3.2%+48.5%+19.5%0.0%+7.0%+61.3%+27.9%−3.5%+27.8%+31.5%−32.1%+15.8%+16.8%+2.7%+48.2%+29.3%−3.6%+6.1%+11.2%+26.6%−28.5%+33.4%
AVY Avery Dennison Corporation16 of 29−0.7%−5.9%+13.7%−15.1%+41.4%+20.9%+48.5%−20.3%+66.8%+14.6%+23.7%+6.3%+47.5%+26.1%−30.1%+18.8%+16.8%−36.0%−19.6%+26.1%−5.3%+9.7%−5.9%+10.4%+5.4%−23.2%+64.5%+2.4%+28.8%
DOV Dover Corporation16 of 29+5.2%+23.4%+15.2%−24.3%+45.7%+11.5%+65.8%−11.0%+37.7%+25.4%−12.4%−8.8%+49.5%+15.7%+1.4%+43.7%+30.3%−26.9%−4.4%+22.9%−1.8%+7.2%+38.7%−20.1%−7.3%−9.7%+25.4%+2.5%+44.6%
GGG Graco Inc.17 of 29−1.5%−1.7%+30.6%−15.5%+12.6%+41.0%+25.9%−6.3%+65.6%+17.4%−8.6%+4.2%+54.1%+28.4%+5.8%+41.6%+24.3%−34.8%−4.4%+10.1%−0.8%+49.2%+41.5%+11.1%+43.8%+17.3%+23.6%+20.3%+54.9%
DD DuPont de Nemours, Inc.13 of 29+28.7%+1.0%+14.3%−13.3%+15.4%+13.3%−14.3%−23.7%+26.2%+13.9%+15.8%+4.9%+40.7%+15.4%−14.0%+25.4%+88.0%−60.2%+1.4%−6.5%−9.6%+21.8%+44.0%−9.4%−5.2%−15.6%+50.2%−8.0%+33.0%
SHW The Sherwin-Williams Company18 of 29−3.8%+9.9%+32.7%−32.0%+44.9%+27.1%+49.7%−3.2%+54.1%+4.8%−0.4%+44.9%+20.7%+74.5%+8.5%+38.7%+5.9%+5.6%−6.9%+42.7%+3.8%+30.7%+25.7%+5.0%+7.3%+28.5%−27.0%+7.2%+0.3%
HON Honeywell International Inc.15 of 29−6.3%+10.2%+0.1%+5.0%−0.2%+23.1%+36.9%−7.5%+35.2%+14.3%+4.9%+10.6%+45.8%+18.5%+3.8%+37.8%+21.9%−45.9%+37.5%+23.1%+6.6%+7.3%+41.6%−28.0%−27.7%−17.2%+31.0%+15.1%+16.7%
TEX Terex Corporation16 of 29+17.2%−18.6%+36.1%−1.5%+27.2%+17.8%+9.7%−42.2%+54.3%+72.8%−33.0%−33.2%+49.6%+108%−56.5%+56.7%+14.4%−73.6%+1.5%+118%+24.7%+67.3%+155%−36.4%+8.4%−41.7%−2.8%+21.6%+132%
SWK Stanley Black & Decker, Inc.16 of 29−3.2%−15.2%+35.5%−58.9%+7.3%+9.7%+41.2%−28.1%+49.2%+9.6%+13.4%+21.9%+11.8%+12.4%+3.6%+32.9%+56.6%−27.5%−1.5%+7.2%+0.5%+32.7%+13.5%−23.8%+53.0%+7.3%+11.8%−39.9%+77.9%
SOLV Solventum Corporation0 of 1+20.0%————————————————————————————
AOS A. O. Smith Corporation16 of 29+0.1%−15.9%+46.7%−32.1%+59.3%+17.5%+13.7%−29.4%+30.8%+25.0%+37.4%+5.9%+73.1%+59.1%+6.8%+34.9%+50.3%−13.6%−4.9%+8.7%+19.8%−12.7%+32.7%+41.4%+17.3%−20.1%−8.9%−10.5%+43.2%
PNR Pentair plc12 of 29+4.5%+40.0%+64.1%−37.4%+39.2%+17.9%+23.7%−18.9%+28.6%+16.0%−23.8%−13.2%+60.7%+50.9%−6.9%+15.7%+40.1%−30.6%+12.9%−7.5%−19.7%+93.4%+35.2%−3.5%+54.4%−35.9%−1.7%+12.6%+13.3%
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Risk and diversification

How MMM 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 MMM's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents MMM'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 MMM fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringMMM fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2022 bear market−57.4%+61.6%Jan 2018Oct 20235.8 yearsJul 202521 months
2008 financial crisis−54.0%−54.5%Oct 2007Mar 200917 monthsApr 201013 months
No named crash−37.2%—Oct 1987Oct 1987Under a monthAug 198922 months
No named crash−32.3%+10.2%Jul 1997Sep 199814 monthsAug 199911 months
Dot-com bust−30.3%−24.1%May 2001Sep 20014 monthsApr 20027 months

How did MMM do in stock market crashes?

This section measures how far MMM, 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 MMM.

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
MMM This page3M Company—−3.4%−38.4%−26.0%−16.8%−9.1%−13.8%−25.0%−1.9%−53.9%−30.3%
SPY S&P 500State Street SPDR S&P 500 ETF4 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
EMR Emerson Electric Co.3 of 10−4.3%−25.4%−47.2%−28.8%−5.9%−15.9%−25.8%0.0%−56.1%−43.6%
NDSN Nordson Corporation2 of 10−4.4%−21.5%−42.1%−23.8%−5.7%−28.4%−33.9%−2.9%−73.6%−34.8%
FAST Fastenal Company6 of 10−2.7%−25.5%−27.8%−17.4%−2.7%−12.7%−14.0%−2.1%−51.8%−36.4%
ITT ITT Inc.3 of 10−7.7%−37.8%−46.4%−25.9%−8.7%−25.4%−28.3%−3.4%−52.4%−20.6%
PH Parker-Hannifin Corporation2 of 10−8.4%−27.3%−54.7%−25.6%−8.1%−23.7%−30.4%−3.5%−66.9%−36.5%
ITW Illinois Tool Works Inc.4 of 10−2.9%−28.0%−37.9%−19.3%−8.4%−14.0%−29.0%−1.1%−54.9%−30.8%
SNA Snap-on Incorporated2 of 10−3.9%−15.3%−40.3%−27.4%−6.7%−22.2%−29.5%−2.5%−65.8%−37.5%
IEX IDEX Corporation4 of 10−2.0%−26.1%−34.3%−23.8%−7.9%−13.1%−33.3%−3.3%−58.3%−33.9%
AVY Avery Dennison Corporation2 of 10−4.2%−28.4%−42.1%−25.3%−5.8%−13.5%−28.2%−2.3%−68.9%−37.5%
DOV Dover Corporation2 of 10−5.9%−35.6%−45.0%−25.1%−6.8%−20.9%−32.8%−1.5%−58.2%−54.1%
GGG Graco Inc.4 of 10−3.9%−27.4%−30.6%−20.1%−8.6%−16.5%−35.8%0.0%−64.7%−24.8%
DD DuPont de Nemours, Inc.1 of 10−4.0%−40.2%−46.4%−29.2%−5.1%−27.0%−39.8%−4.5%−85.7%−40.6%
SHW The Sherwin-Williams Company4 of 10−2.9%−39.7%−32.5%−22.1%−4.3%−23.2%−12.4%−0.5%−33.3%−32.4%
HON Honeywell International Inc.3 of 10−1.4%−22.7%−42.2%−22.1%−6.8%−14.4%−25.3%−1.8%−62.2%−65.8%
TEX Terex Corporation1 of 10−13.7%−41.1%−50.2%−38.7%−8.3%−45.9%−60.4%−8.6%−91.6%−45.3%
SWK Stanley Black & Decker, Inc.1 of 10−4.5%−60.7%−55.3%−29.7%−6.7%−18.2%−31.3%−4.0%−58.9%−41.3%
AOS A. O. Smith Corporation3 of 10−2.4%−42.1%−21.9%−30.3%−6.8%−23.3%−31.6%−3.8%−54.1%−47.9%
PNR Pentair plc1 of 10−6.4%−42.9%−48.7%−19.9%−6.4%−30.9%−25.8%−2.9%−54.8%−51.7%
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How closely does MMM 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 MMM 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 MMM's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
MMM This page3M Company86%136%0.640.99
FAST Fastenal Company106%87%1.230.98
PH Parker-Hannifin Corporation141%126%1.111.43
ITT ITT Inc.135%138%0.981.42
GGG Graco Inc.90%92%0.980.78
SNA Snap-on Incorporated86%93%0.920.99
NDSN Nordson Corporation102%112%0.910.98
SHW The Sherwin-Williams Company114%132%0.871.09
DOV Dover Corporation114%133%0.851.27
EMR Emerson Electric Co.124%153%0.811.39
ITW Illinois Tool Works Inc.94%116%0.811.04
AVY Avery Dennison Corporation89%110%0.810.91
IEX IDEX Corporation97%121%0.801.03
HON Honeywell International Inc.90%118%0.771.00
TEX Terex Corporation133%199%0.671.60
DD DuPont de Nemours, Inc.96%151%0.631.28
PNR Pentair plc89%148%0.601.11
AOS A. O. Smith Corporation82%139%0.591.12
SWK Stanley Black & Decker, Inc.101%198%0.511.30
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What diversifies MMM?

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

ETFs

InvestmentCorrelation5Y returnSharpe202320222019201820152011200820052004199880/20 mix volatility80/20 mix annual return
MMM 3M Company (this page)1.00+37.2%0.36−2.2%−29.1%−3.7%−16.5%−5.4%−2.4%−29.4%−3.1%−1.4%−11.0%28.2%+6.5%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.20+225%1.34+42.0%+6.0%+18.9%−19.8%+7.7%−16.1%−20.8%———23.2%+11.0%
POCT Broad MarketInnovator U.S. Equity Power Buffer ETF0.47+60.9%1.23+20.1%−1.3%+12.8%———————23.2%+7.8%
FTLS Broad MarketFirst Trust Long/Short Equity ETF0.48+62.9%0.99+16.9%−5.6%+16.2%−4.8%+4.7%—————23.4%+7.8%
MLPX EnergyGlobal X - MLP & Energy Infrastructure ETF0.45+135%0.97+15.8%+21.5%+19.1%−15.5%−35.3%—————24.5%+9.6%
SMH TechnologyVanEck Semiconductor ETF0.23+323%0.97+73.4%−33.5%+64.5%−9.1%−0.3%+6.8%−44.7%+10.8%−19.3%—25.1%+13.4%
GLD CommoditiesSPDR Gold Shares0.21+126%0.96+12.7%−0.8%+17.9%−1.9%−10.7%+9.6%+4.9%+17.8%——23.5%+9.5%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.42+136%0.93+17.6%−10.4%+25.9%−0.9%——————24.5%+9.9%
XLE EnergyState Street Energy Select Sector SPDR ETF0.33+177%0.93−0.6%+64.4%+11.7%−18.2%−21.5%+2.8%−39.0%+40.1%+33.8%—24.8%+10.4%

Stocks

InvestmentCorrelation5Y returnSharpe202320222019201820152011200820052004199880/20 mix volatility80/20 mix annual return
MMM 3M Company (this page)1.00+37.2%0.36−2.2%−29.1%−3.7%−16.5%−5.4%−2.4%−29.4%−3.1%−1.4%−11.0%28.2%+6.5%
CAH Medical - DistributionCardinal Health, Inc.0.27+479%1.55+34.1%+54.1%+18.0%−24.5%+12.6%+8.1%−39.6%+18.7%−4.7%+51.7%24.5%+13.1%
CLS Hardware, Equipment & PartsCelestica Inc.0.23+3,143%1.47+160%+1.3%−5.7%−16.3%−6.0%−24.4%−20.5%−25.2%−6.4%—27.7%+25.2%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.28+1,636%1.46+79.6%+17.0%+15.1%+0.8%+67.7%−17.0%−15.2%+20.1%+40.0%−9.5%26.5%+21.3%
MCK Medical - DistributionMcKesson Corporation0.21+413%1.44+24.1%+51.8%+26.7%−28.4%−4.5%+11.8%−40.4%+64.9%−1.4%+46.9%24.1%+12.6%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.24+690%1.41+30.4%+86.6%+6.0%−8.2%+17.4%—————24.9%+15.0%
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Common questions

What was MMM's worst drawdown?

MMM's deepest decline since it began trading in 1986 was 57.4%, from January 2018 to October 2023. It took 21 months from the low to climb back to its old high.

What were MMM's best and worst years?

Over 29 full calendar years, MMM's best year was 2013, when it returned 55.2%. Its worst was 2008, with a return of -29.4%.

Is there a better investment than MMM?

Among MMM's popular alternatives, FAST and SNA earned more than MMM with less volatility over the past 5 years. FAST returned 15.8% a year at 24.6% volatility, against 6.5% a year at 28.8%. Looking beyond its popular alternatives, WAB (industrial machinery) and DCI (industrial machinery) earned more than MMM with less volatility over the past 5 years. WAB returned 25.6% a year at 26.2% volatility, against 6.5% a year at 28.8%.

Is MMM more volatile than the S&P 500?

Yes. MMM's volatility over the past 5 years was 28.8%, 1.7 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MMM's return lands within 28.8% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is MMM's Sharpe ratio?

MMM's Sharpe ratio over the past 5 years was 0.36, against 0.79 for the S&P 500, so MMM 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 MMM with the S&P 500?

Over the past 5 years, MMM's monthly returns had a correlation of 0.55 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against MMM instead: the lower it is, the more that option would diversify a MMM holding.

What are the best alternatives to MMM?

Of the 19 popular alternatives we compared, three outperformed MMM in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: EMR, NDSN and FAST.

Did MMM outperform the S&P 500?

MMM finished ahead of the S&P 500 (SPY) in 15 of 29 full calendar years. In 2025, it returned +26.4%, against +17.7% for the index.

How did MMM do in stock market crashes?

MMM fell less than the S&P 500 (SPY) in four of the ten major crashes it has traded through, and further in four. The clearest case was the dot-com bust, when MMM fell 30.3% and the S&P 500 fell 47.5%.

What diversifies MMM?

These had a low correlation with MMM over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.20), POCT (correlation 0.47) and FTLS (correlation 0.48); among large stocks, CAH (correlation 0.27), CLS (correlation 0.23) and FIX (correlation 0.28). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to MMM

Other stocks and ETFs