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Relative Intelligence · Pharmaceuticals

How Merck & Co., Inc. (MRK) compares with the whole market and its popular alternatives

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

Period covered: MRK'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 MRK →Chart MRK vs. 22 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in MRK over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of MRK over the same span and MRK'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. 603 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of MRK; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M199720022007201220172022$10,000$100,000$1M19972004201120182025
  • GILD$2M+15,614% total · +19.1% a year
  • AMGN$526,909+5,169% total · +14.6% a year
  • LLY$396,376+3,864% total · +13.5% a year
  • TMO$235,386+2,254% total · +11.5% a year
  • MCK$208,304+1,983% total · +11.0% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • NVS$105,143+951% total · +8.5% a year
  • MRK$82,561+726% total · +7.6% a year
  • TEVA$76,156+662% total · +7.3% a year
  • VTRS$23,883+139% total · +3.0% 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. 633 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of MRK; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000$60,000202120222023202420252026$0$20,000$40,000$60,000202120222023202420252026
  • LLY$52,411+424% total · +39.3% a year
  • MCK$43,941+339% total · +34.5% a year
  • TEVA$40,657+307% total · +32.4% a year
  • ABBV$29,134+191% total · +23.8% a year
  • GILD$25,496+155% total · +20.6% a year
  • AMGN$23,160+132% total · +18.3% a year
  • MRK$22,538+125% total · +17.6% a year
  • NVS$21,146+111% total · +16.2% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • TMO$11,986+19.9% total · +3.7% a year
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MRK 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
$366B
Industry
Drug Manufacturers - General
Price history from
October 1986

Returns

Past 1 year
+76.8%total return
Past 3 years
+58.3%+16.5% a year
Past 5 years
+113%+16.3% a year
Past 10 years
+241%+13.0% a year
Best calendar year
+49.4%2022
Worst calendar year
−45.3%2008
Losing years
10 of 29full calendar years

Risk

Volatility
24.8%typical yearly swing, 5 years
Sharpe ratio
0.74return per unit of risk, 5 years
Worst decline ever
−68.6%Dec 2000 to Mar 2009
From its all-time high
−4.7%below the peak

MRK against the whole market

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

How does MRK rank among all stocks?

This section ranks MRK 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 MRK 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.

MeasureMRKRankStanding
1-year return+76.8%294 of 3,287top 9%
3-year return+58.3%1,423 of 3,017top 47%
5-year return+113%615 of 2,893top 21%
10-year return+241%738 of 2,202top 34%
Volatility, 5 years24.8%306 of 2,893top 11%
Sharpe ratio, 5 years0.74388 of 2,893top 13%
Worst decline, past 10 years−43.4%240 of 2,187top 11%

What has beaten MRK 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). MRK sits where the dashed lines cross. Anything in the green box above and to the left earned more than MRK 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 MRK; faint dots are 20 more of the 40 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%40.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than MRKDBJP: +20.9% a year, volatility 19.2%COST: +17.4% a year, volatility 22.9%PM: +21.0% a year, volatility 23.4%TJX: +19.9% a year, volatility 22.3%BTI: +18.7% a year, volatility 22.0%MO: +17.8% a year, volatility 21.4%CM: +19.2% a year, volatility 21.6%TRV: +22.4% a year, volatility 22.3%KMI: +18.7% a year, volatility 22.5%AFL: +19.0% a year, volatility 20.8%ETR: +19.2% a year, volatility 22.4%CCEP: +19.7% a year, volatility 23.2%SDCI: +20.6% a year, volatility 18.4%WRB: +18.9% a year, volatility 22.9%MLPX: +18.6% a year, volatility 19.7%IXC: +20.7% a year, volatility 23.2%EUFN: +18.5% a year, volatility 21.8%GARP: +17.5% a year, volatility 22.5%ATMP: +21.2% a year, volatility 21.5%NANR: +17.4% a year, volatility 22.6%MRK: +16.3% a year, volatility 24.8%SPY (S&P 500): +12.7% a year, volatility 17.1%MCK: +38.7% a year, volatility 25.0%GILD: +22.8% a year, volatility 24.9%AMGN: +19.6% a year, volatility 24.9%ABBV: +26.1% a year, volatility 23.4%LLY: +40.7% a year, volatility 32.8%COR: +24.2% a year, volatility 22.8%CAH: +42.1% a year, volatility 24.7%EXEL: +24.4% a year, volatility 35.8%A: +2.6% a year, volatility 30.6%ITGR: +6.9% a year, volatility 35.3%WMT: +20.8% a year, volatility 22.6%GLD: +17.7% a year, volatility 18.9%SPMO: +18.7% a year, volatility 20.8%CRAK: +19.8% a year, volatility 20.9%MPLX: +23.5% a year, volatility 18.8%LVHI: +17.0% a year, volatility 11.1%MPC: +51.2% a year, volatility 33.4%PGR: +21.3% a year, volatility 25.6%DXJ: +26.6% a year, volatility 19.1%MRKSPY (S&P 500)MCKGILDAMGNABBVLLYCORCAHEXELAITGRWMTGLDSPMOMPLXLVHIMPCDXJ10.0%20.0%30.0%40.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than MRKDBJP: +20.9% a year, volatility 19.2%COST: +17.4% a year, volatility 22.9%PM: +21.0% a year, volatility 23.4%TJX: +19.9% a year, volatility 22.3%BTI: +18.7% a year, volatility 22.0%MO: +17.8% a year, volatility 21.4%CM: +19.2% a year, volatility 21.6%TRV: +22.4% a year, volatility 22.3%KMI: +18.7% a year, volatility 22.5%AFL: +19.0% a year, volatility 20.8%ETR: +19.2% a year, volatility 22.4%CCEP: +19.7% a year, volatility 23.2%SDCI: +20.6% a year, volatility 18.4%WRB: +18.9% a year, volatility 22.9%MLPX: +18.6% a year, volatility 19.7%IXC: +20.7% a year, volatility 23.2%EUFN: +18.5% a year, volatility 21.8%GARP: +17.5% a year, volatility 22.5%ATMP: +21.2% a year, volatility 21.5%NANR: +17.4% a year, volatility 22.6%MRK: +16.3% a year, volatility 24.8%SPY (S&P 500): +12.7% a year, volatility 17.1%MCK: +38.7% a year, volatility 25.0%GILD: +22.8% a year, volatility 24.9%AMGN: +19.6% a year, volatility 24.9%ABBV: +26.1% a year, volatility 23.4%LLY: +40.7% a year, volatility 32.8%COR: +24.2% a year, volatility 22.8%CAH: +42.1% a year, volatility 24.7%EXEL: +24.4% a year, volatility 35.8%A: +2.6% a year, volatility 30.6%ITGR: +6.9% a year, volatility 35.3%WMT: +20.8% a year, volatility 22.6%GLD: +17.7% a year, volatility 18.9%SPMO: +18.7% a year, volatility 20.8%CRAK: +19.8% a year, volatility 20.9%MPLX: +23.5% a year, volatility 18.8%LVHI: +17.0% a year, volatility 11.1%MPC: +51.2% a year, volatility 33.4%PGR: +21.3% a year, volatility 25.6%DXJ: +26.6% a year, volatility 19.1%MRKSPY (S&P 500)MCKGILDAMGNABBVLLYCORCAHEXELAITGRWMTGLDMPLXLVHIMPCDXJ
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region
  • 1 with more than 1.6× MRK's volatility is in the table only

Is there a better investment than MRK?

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

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

Screen the whole market against MRK 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 MRK?lower diversifies moreExpenseper year
MRKMerck & Co., Inc. · this page
+16.3%24.8%0.74−43.4%+241%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.130.09%
Popular alternativesbest 6 shownThe investments people most often weigh against MRK. 7 of 22 passed at least one test.
MCKMcKesson Corporation · Health Care Distribution
Higher return, similar volatilityHigher Sharpe, smaller worst decline+38.7%25.0%1.44−38.1%+586%0.19—
GILDGilead Sciences, Inc. · Biotechnology
Higher return, similar volatilityHigher Sharpe, smaller worst decline+22.8%24.9%0.95−30.5%+200%0.17—
AMGNAmgen Inc. · Biotechnology
Higher return, similar volatilityHigher Sharpe, smaller worst decline+19.6%24.9%0.85−24.9%+266%0.39—
ABBVAbbVie Inc. · Pharmaceuticals
Higher return, lower volatility+26.1%23.4%1.11−45.1%+603%0.27—
LLYEli Lilly and Company · Pharmaceuticals
Higher Sharpe, smaller worst decline+40.7%32.8%1.21−34.5%+1,807%0.51—
TEVATeva Pharmaceutical Industries Limited · Pharmaceuticals
Higher return in most periods+32.2%42.8%0.86−85.5%−3.6%0.16—
Same and neighboring categories, and shared themesbest 5 shownEverything else in Pharmaceuticals and the categories next to it (Biotechnology, Health Care Distribution, Life Sciences Tools, Medical Devices), plus MRK's specific themes. 5 of 106 passed at least one test.
CORCencora, Inc. · Health Care Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst decline+24.2%22.8%1.07−32.4%+406%0.33—
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, similar volatility+42.1%24.7%1.55−46.1%+349%0.26—
EXELExelixis, Inc. · Biotechnology
Higher return in most periods+24.4%35.8%0.79−57.2%+448%0.09—
AAgilent Technologies, Inc. · Life Sciences Tools
Higher return in most periods+2.6%30.6%0.24−43.2%+306%0.27—
ITGRInteger Holdings Corporation · Medical Devices
Higher return in most periods+6.9%35.3%0.37−56.1%+557%0.24—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 107 of 3,505 passed at least one test.
WMTWalmart Inc. · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst decline+20.8%22.6%0.96−25.7%+508%0.19—
GLDSPDR Gold Shares · Gold
Higher return, lower volatilityHigher Sharpe, smaller worst decline+17.7%18.9%0.96−26.4%+213%0.080.40%
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Higher return, lower volatilityHigher Sharpe, smaller worst decline+18.7%20.8%0.93−30.9%+499%0.150.13%
CRAKVanEck Oil Refiners ETF · Energy
Higher return, lower volatilityHigher return in most periods+19.8%20.9%0.97−58.8%+336%0.310.61%
MPLXMPLX Lp · Oil & Gas Midstream
On the frontierHigher return, lower volatility+23.5%18.8%1.22−75.2%+350%0.27—
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline+17.0%11.1%1.48−32.4%+194%0.350.40%
MPCMarathon Petroleum Corporation · Oil & Gas
On the frontierHigher return in most periods+51.2%33.4%1.41−79.7%+1,387%0.22—
PGRThe Progressive Corporation · Property & Casualty Insurance
Higher return, similar volatilityHigher Sharpe, smaller worst decline+21.3%25.6%0.89−30.3%+816%0.28—
What these numbers mean for MRK
Annual return
MRK returned 16.3% 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 $21,300. 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
MRK's volatility over the past 5 years was 24.8%, 1.4 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MRK's return lands within 24.8% 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
MRK's Sharpe ratio over the past 5 years was 0.74, against 0.79 for the S&P 500, so MRK 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
MRK's worst fall from a peak to a low over the past 10 years was 43.4%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 43.4% fall takes a 76.8% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, MRK's monthly returns had a correlation of 0.13 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against MRK instead: the lower it is, the more that option would diversify a MRK holding. Guide: Correlation and diversification →
Show all 40 stocks and funds worth at least $500 million that earned more than MRK with less volatility

Out of 3,633 tested over 5 years. The strongest 28 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with MRKExpense
1
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.19—
2
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.080.40%
3
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%0.150.13%
4
CORCencora, Inc. · Health Care Distribution
Same or nearby category+24.2%22.8%1.07−32.4%+406%0.33—
5
CRAKVanEck Oil Refiners ETF · Energy
Whole market+19.8%20.9%0.97−58.8%+336%0.310.61%
6
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.27—
7
DBJPXtrackers MSCI Japan Hedged Equity ETF · International
Whole market+20.9%19.2%1.09−31.3%+348%0.290.45%
8
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.370.48%
9
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.01—
10
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.15—
11
TJXThe TJX Companies, Inc. · Specialty Retail
Whole market+19.9%22.3%0.93−42.5%+361%0.17—
12
BTIBritish American Tobacco p.l.c. · Tobacco
Whole market+18.7%22.0%0.90−56.1%+98.2%0.21—
13
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%0.16—
14
CMCanadian Imperial Bank of Commerce · Banks
Whole market+19.2%21.6%0.93−47.3%+395%0.08—
15
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.38—
16
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Whole market+18.7%22.5%0.88−55.1%+163%0.17—
17
AFLAflac Incorporated · Life Insurance
Whole market+19.0%20.8%0.95−54.9%+335%0.24—
18
ETREntergy Corporation · Electric Utilities
Whole market+19.2%22.4%0.90−42.0%+311%0.04—
19
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Whole market+19.7%23.2%0.90−48.8%+292%0.30—
20
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.220.80%
21
WRBW. R. Berkley Corporation · Property & Casualty Insurance
Whole market+18.9%22.9%0.87−45.3%+443%0.27—
22
ABBVAbbVie Inc. · Pharmaceuticals
Popular alternative+26.1%23.4%1.11−45.1%+603%0.27—
23
MLPXGlobal X - MLP & Energy Infrastructure ETF · Energy
Whole market+18.6%19.7%0.97−64.6%+186%0.280.45%
24
IXCiShares Global Energy ETF · International
Whole market+20.7%23.2%0.93−64.2%+183%0.340.37%
25
EUFNiShares MSCI Europe Financials ETF · Financial Sector Equity
Whole market+18.5%21.8%0.89−53.2%+233%0.210.49%
26
GARPiShares MSCI USA Quality GARP ETF · Broad Market
Whole market+17.5%22.5%0.83−31.4%—0.050.15%
27
ATMPBarclays ETN+ Select MLP ETN · Broad Market
Whole market+21.2%21.5%1.01−70.3%+172%0.270.95%
28
NANRState Street SPDR S&P North American Natural Resources ETF · Broad Market
Whole market+17.4%22.6%0.83−49.1%+241%0.360.35%

MRK against its popular alternatives

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

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

Green points earned more than MRK 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%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityMRK: 16.3% a year, volatility 24.8%SPY (S&P 500): 12.7% a year, volatility 17.1%ABBV: 26.1% a year, volatility 23.4%NVS: 17.2% a year, volatility 20.7%TMO: 2.9% a year, volatility 27.8%VTRS: 10.4% a year, volatility 33.6%IQV: 1.3% a year, volatility 34.7%AZN: 8.7% a year, volatility 35.7%XBI: 4.6% a year, volatility 32.5%BIIB: −1.8% a year, volatility 34.7%PFE: −1.7% a year, volatility 25.4%REGN: 7.7% a year, volatility 31.1%ZTS: −16.3% a year, volatility 29.6%NVO: −4.0% a year, volatility 39.1%BMY: 5.5% a year, volatility 24.9%SNY: 0.6% a year, volatility 25.3%TEVA: 32.2% a year, volatility 42.8%LLY: 40.7% a year, volatility 32.8%MCK: 38.7% a year, volatility 25.0%AMGN: 19.6% a year, volatility 24.9%GILD: 22.8% a year, volatility 24.9%JNJ: 12.7% a year, volatility 17.9%TAK: 11.8% a year, volatility 19.4%GSK: 9.5% a year, volatility 24.5%MRKSPY (S&P 500)ABBVNVSTMOVTRSIQVAZNXBIBIIBPFEREGNZTSNVOBMYSNYTEVALLYMCKAMGNGILDGSK10.0%20.0%30.0%40.0%50.0%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityMRK: 16.3% a year, volatility 24.8%SPY (S&P 500): 12.7% a year, volatility 17.1%ABBV: 26.1% a year, volatility 23.4%NVS: 17.2% a year, volatility 20.7%TMO: 2.9% a year, volatility 27.8%VTRS: 10.4% a year, volatility 33.6%IQV: 1.3% a year, volatility 34.7%AZN: 8.7% a year, volatility 35.7%XBI: 4.6% a year, volatility 32.5%BIIB: −1.8% a year, volatility 34.7%PFE: −1.7% a year, volatility 25.4%REGN: 7.7% a year, volatility 31.1%ZTS: −16.3% a year, volatility 29.6%NVO: −4.0% a year, volatility 39.1%BMY: 5.5% a year, volatility 24.9%SNY: 0.6% a year, volatility 25.3%TEVA: 32.2% a year, volatility 42.8%LLY: 40.7% a year, volatility 32.8%MCK: 38.7% a year, volatility 25.0%AMGN: 19.6% a year, volatility 24.9%GILD: 22.8% a year, volatility 24.9%JNJ: 12.7% a year, volatility 17.9%TAK: 11.8% a year, volatility 19.4%GSK: 9.5% a year, volatility 24.5%MRKSPY (S&P 500)ABBVNVSTMOVTRSIQVXBIBIIBPFEREGNZTSNVOBMYSNYTEVALLYMCKAMGNGILDJNJGSK
All figures
InvestmentAnnual returnVolatility
LLY Eli Lilly and Company+40.7%32.8%
MCK McKesson Corporation+38.7%25.0%
TEVA Teva Pharmaceutical Industries Limited+32.2%42.8%
ABBV AbbVie Inc.+26.1%23.4%
GILD Gilead Sciences, Inc.+22.8%24.9%
AMGN Amgen Inc.+19.6%24.9%
NVS Novartis AG+17.2%20.7%
MRK This pageMerck & Co., Inc.+16.3%24.8%
JNJ Johnson & Johnson+12.7%17.9%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
TAK Takeda Pharmaceutical Company Limited+11.8%19.4%
VTRS Viatris Inc.+10.4%33.6%
GSK GSK plc+9.5%24.5%
AZN AstraZeneca PLC+8.7%35.7%
REGN Regeneron Pharmaceuticals, Inc.+7.7%31.1%
BMY Bristol-Myers Squibb Company+5.5%24.9%
XBI State Street SPDR S&P Biotech ETF+4.6%32.5%
TMO Thermo Fisher Scientific Inc.+2.9%27.8%
IQV IQVIA Holdings Inc.+1.3%34.7%
SNY Sanofi+0.6%25.3%
PFE Pfizer Inc.−1.7%25.4%
BIIB Biogen Inc.−1.8%34.7%
NVO Novo Nordisk A/S−4.0%39.1%
ZTS Zoetis Inc.−16.3%29.6%
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Has MRK consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than MRK 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
MRK Merck & Co., Inc. (this page)—−0.8%+19.9%+28.3%+42.2%+76.8%+58.3%+113%+241%24.8%0.74−43.4%—$366B—
TEVA QualifiedTeva Pharmaceutical Industries Limited3/5 short2/3 long+2.0%+31.8%+27.6%+32.0%+110%+403%+303%−3.6%42.8%0.86−85.5%—$48B—
LLY Drug Manufacturers - GeneralEli Lilly and Company2/5 short3/3 long+10.2%+12.1%+40.0%+19.4%+59.7%+124%+451%+1,807%32.8%1.21−34.5%—$1.2T—
ABBV Drug Manufacturers - GeneralAbbVie Inc.2/5 short3/3 long+9.9%+14.8%+43.8%+29.8%+28.3%+118%+218%+603%23.4%1.11−45.1%—$511B—
MCK Medical - DistributionMcKesson Corporation2/5 short3/3 long+16.2%+24.0%+20.2%+25.5%+31.3%+131%+413%+586%25.0%1.44−38.1%—$120B—
AMGN Drug Manufacturers - GeneralAmgen Inc.2/5 short3/3 long+11.6%+21.2%+27.0%+36.7%+48.7%+72.2%+145%+266%24.9%0.85−24.9%—$237B—
NVS Drug Manufacturers - GeneralNovartis AG1/5 short2/3 long+9.0%+2.7%+1.8%+13.1%+18.8%+75.9%+121%+226%20.7%0.87−26.8%—$292B—
GILD Drug Manufacturers - GeneralGilead Sciences, Inc.1/5 short2/3 long+4.0%+18.2%+16.6%+31.0%+30.3%+121%+180%+200%24.9%0.95−30.5%—$194B—
TMO Medical - Diagnostics & ResearchThermo Fisher Scientific Inc.3/5 short1/3 long+4.3%+30.7%+30.9%+16.3%+26.8%+49.5%+15.1%+366%27.8%0.24−40.9%—$254B—
VTRS Drug Manufacturers - Specialty & GenericViatris Inc.3/5 short1/3 long+9.1%+10.6%+27.3%+53.1%+87.1%+127%+64.3%−38.0%33.6%0.47−82.0%—$21B—
IQV Medical - Diagnostics & ResearchIQVIA Holdings Inc.2/5 short1/3 long−0.8%+31.4%+51.5%+18.8%+26.3%+45.3%+6.5%+260%34.7%0.21−51.5%—$44B—
AZN Drug Manufacturers - GeneralAstraZeneca PLC1/5 short1/3 long+0.4%+3.3%−15.3%−7.0%+1.8%+38.8%+52.1%+257%35.7%0.41−28.7%—$262B—
JNJ Drug Manufacturers - GeneralJohnson & Johnson0/5 short1/3 long−3.8%+4.8%+13.6%+27.1%+36.9%+84.6%+82.1%+196%17.9%0.76−27.4%—$625B—
XBI HealthcareState Street SPDR S&P Biotech ETF0/5 short1/3 long−3.2%+1.5%+11.3%+26.2%+39.7%+130%+25.1%+159%32.5%0.30−63.9%0.35%$10B—
BIIB Drug Manufacturers - GeneralBiogen Inc.3/5 short0/3 long+11.0%+21.6%+32.6%+36.7%+65.8%−5.6%−8.8%−18.9%34.7%0.11−72.7%—$36B—
PFE Drug Manufacturers - GeneralPfizer Inc.2/5 short0/3 long+8.5%+23.8%+13.2%+25.7%+30.5%+19.2%−8.3%+55.0%25.4%0.06−58.9%—$172B—
REGN BiotechnologyRegeneron Pharmaceuticals, Inc.1/5 short0/3 long+1.2%+20.3%+8.0%+4.4%+40.7%+0.8%+44.9%+120%31.1%0.40−59.7%—$83B—
ZTS Drug Manufacturers - Specialty & GenericZoetis Inc.1/5 short0/3 long+12.2%+5.0%−34.3%−35.4%−43.8%−50.1%−59.0%+70.3%29.6%-0.45−70.5%—$33B—
TAK Drug Manufacturers - Specialty & GenericTakeda Pharmaceutical Company Limited1/5 short0/3 long+8.6%+20.3%+16.9%+33.6%+48.2%+56.1%+75.1%+30.4%19.4%0.68−54.4%—$64B—
NVO Drug Manufacturers - GeneralNovo Nordisk A/S0/5 short0/3 long−1.1%−20.0%−1.5%−23.9%−28.5%−57.0%−18.5%+134%39.1%0.09−75.2%—$174B—
GSK Drug Manufacturers - GeneralGSK plc0/5 short0/3 long−0.9%+2.1%−10.1%+4.7%+18.9%+60.0%+57.2%+95.1%24.5%0.49−37.6%—$102B—
BMY Drug Manufacturers - GeneralBristol-Myers Squibb Company0/5 short0/3 long−0.5%+3.6%+6.6%+19.1%+47.8%+25.8%+30.6%+74.8%24.9%0.34−47.7%—$126B—
SNY Drug Manufacturers - GeneralSanofi0/5 short0/3 long−2.6%−5.9%−10.3%−10.7%−13.4%−10.0%+3.0%+61.5%25.3%0.15−33.5%—$99B—
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How did MRK do year by year?

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

InvestmentYears ahead of MRK20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
MRK This pageMerck & Co., Inc.—+9.8%−6.3%+1.0%+49.4%+1.8%−7.2%+22.3%+40.0%−1.5%+15.0%−3.9%+16.9%+26.9%+13.1%+9.6%+2.9%+26.7%−45.3%+37.3%+42.8%+4.0%−27.7%−11.2%−1.2%−36.0%+41.8%−7.7%+41.6%+35.7%
Rank among alternativesTop quarter in 6 of 2916 of 2317 of 2314 of 232 of 2316 of 2321 of 2312 of 232 of 2321 of 232 of 2318 of 2316 of 2315 of 2114 of 2012 of 2013 of 208 of 2019 of 194 of 193 of 1812 of 1816 of 1817 of 184 of 1717 of 179 of 1710 of 177 of 1710 of 17
SPY S&P 500State Street SPDR S&P 500 ETF17 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%
TEVA Teva Pharmaceutical Industries Limited16 of 29+41.6%+111%+14.5%+13.9%−17.0%−1.5%−36.4%−18.6%−46.0%−43.2%+16.7%+47.4%+10.9%−5.1%−21.0%−5.9%+33.6%−7.4%+50.9%−27.1%+45.2%+6.1%+47.8%+26.1%−15.5%+105%+77.0%−13.4%−5.3%
LLY Eli Lilly and Company16 of 29+40.3%+33.3%+60.9%+34.3%+66.1%+31.0%+16.2%+40.5%+17.8%−10.4%+25.4%+39.8%+7.3%+24.2%+25.2%+3.6%−6.2%−21.3%+5.7%−5.2%+2.6%−17.6%+13.1%−17.6%−14.4%+41.9%−24.3%+29.1%+93.6%
ABBV AbbVie Inc.7 of 13+33.1%+18.9%−0.2%+24.0%+32.4%+27.7%+1.5%−1.0%+60.1%+9.8%−6.5%+27.9%+60.7%————————————————
MCK McKesson Corporation22 of 29+44.5%+23.7%+24.1%+51.8%+44.2%+27.1%+26.7%−28.4%+12.0%−28.3%−4.5%+29.3%+67.7%+25.6%+11.8%+13.8%+62.9%−40.4%+29.7%−1.2%+64.9%−1.4%+19.9%−27.2%+4.9%+61.2%−71.3%+46.9%+96.3%
AMGN Amgen Inc.17 of 29+29.7%−6.8%+13.5%+20.4%+0.9%−2.0%+27.6%+15.2%+22.3%−7.6%+4.0%+42.3%+34.8%+36.8%+18.2%−3.0%−2.0%+24.3%−32.0%−13.4%+22.9%+3.8%+27.8%−14.4%−11.7%+6.5%+130%+93.3%−0.4%
NVS Novartis AG17 of 29+46.0%−0.5%+21.1%+6.6%−5.0%+2.2%+29.1%+6.2%+19.8%−11.8%−4.3%+19.4%+32.2%+16.1%+1.5%+12.6%+14.6%−5.4%−3.4%+11.3%+6.0%+12.3%+27.5%+2.1%−17.2%+30.6%−24.1%+21.9%+52.9%
GILD Gilead Sciences, Inc.19 of 29+36.6%+18.7%−2.0%+23.6%+29.9%−6.7%+7.9%−9.9%+3.0%−27.6%+8.6%+25.5%+105%+79.5%+12.9%−16.3%−15.4%+11.2%+41.7%+23.4%+50.2%+20.1%+71.4%+3.6%+58.2%+53.9%+31.7%+6.7%+53.6%
TMO Thermo Fisher Scientific Inc.17 of 29+11.8%−1.7%−3.4%−17.3%+43.5%+43.7%+45.6%+18.2%+35.0%−0.1%+13.8%+13.1%+75.8%+43.2%−18.8%+16.1%+40.0%−40.9%+27.4%+50.3%−0.2%+19.8%+25.3%−15.7%+5.6%+98.2%−11.4%−61.5%+6.7%
VTRS Viatris Inc.13 of 29+5.0%+19.7%+2.0%−14.3%−26.2%−6.8%−26.6%−35.2%+10.9%−29.4%−4.1%+29.9%+58.1%+27.9%+1.6%+14.6%+86.4%−29.7%−29.1%+1.1%+14.2%−29.6%+63.5%−6.4%+49.9%+0.7%−19.5%+51.3%+27.1%
IQV IQVIA Holdings Inc.8 of 12+14.7%−15.1%+12.9%−27.4%+57.5%+16.0%+33.0%+18.7%+28.7%+10.8%+16.6%+27.0%—————————————————
AZN AstraZeneca PLC16 of 29+38.0%−1.2%+0.8%+20.4%+17.9%+2.9%+37.4%+13.9%+35.3%−16.7%+0.1%+24.6%+32.0%+8.6%+6.0%+3.5%+20.4%+0.3%−17.1%+12.7%+36.9%−22.0%+38.2%−23.2%−7.9%+28.7%−5.3%+27.0%+31.8%
JNJ Johnson & Johnson12 of 29+47.5%−4.8%−8.6%+6.0%+11.4%+10.8%+16.2%−5.1%+24.4%+15.3%+1.2%+17.3%+34.6%+10.8%+9.9%−0.6%+11.3%−7.7%+3.6%+12.4%−3.4%+25.2%−2.0%−7.9%+14.0%+14.2%+12.5%+29.0%+34.3%
XBI State Street SPDR S&P Biotech ETF12 of 19+35.9%+1.0%+7.6%−25.9%−20.4%+48.3%+32.6%−15.3%+43.8%−15.4%+13.6%+45.0%+48.4%+32.7%+5.2%+17.6%+0.4%−8.5%+29.1%——————————
BIIB Biogen Inc.14 of 29+15.1%−40.9%−6.6%+15.4%−2.0%−17.5%−1.4%−5.5%+12.3%−7.4%−9.8%+21.4%+91.0%+33.0%+64.1%+25.3%+12.3%−16.3%+15.7%+8.6%−32.0%+81.5%+10.6%−51.9%+9.1%+93.0%+318%+36.6%+44.7%
PFE Pfizer Inc.13 of 29+0.6%−2.2%−41.3%−10.4%+66.7%+3.4%−6.7%+25.1%+16.1%+4.4%+7.3%+5.4%+26.5%+20.6%+28.8%+0.6%+8.1%−16.9%−8.2%+15.3%−10.6%−22.3%+17.7%−22.2%−12.5%+43.0%−21.5%+68.8%+82.0%
REGN Regeneron Pharmaceuticals, Inc.16 of 29+9.0%−18.9%+21.7%+14.2%+30.7%+28.7%+0.5%−0.7%+2.4%−32.4%+32.3%+49.0%+60.9%+209%+68.8%+35.8%+31.7%−24.0%+20.3%+26.2%+72.7%−37.4%−20.6%−34.3%−20.2%+177%+72.8%−13.8%−46.9%
ZTS Zoetis Inc.7 of 12−21.8%−16.6%+35.9%−39.5%+48.3%+25.8%+55.7%+19.5%+35.6%+12.7%+12.1%+32.8%—————————————————
TAK Takeda Pharmaceutical Company Limited6 of 17+22.7%−3.2%−4.8%+20.1%−21.6%−3.0%+22.1%−38.8%+41.3%−14.0%+24.4%−6.5%+7.4%+5.8%−5.0%+21.2%−16.1%————————————
NVO Novo Nordisk A/S17 of 29−39.2%−15.9%+54.8%+22.6%+63.5%+23.3%+28.7%−11.8%+54.3%−36.6%+39.3%+16.7%+15.3%+44.0%+4.1%+79.3%+27.2%−19.8%+57.4%+51.3%+5.6%+34.6%+43.5%−27.0%+14.4%+39.0%−1.9%−7.3%+54.9%
GSK GSK plc15 of 29+51.3%−5.2%+9.8%−16.8%+27.1%−17.7%+29.2%+13.8%−3.0%+2.1%−0.3%−15.7%+28.9%+0.6%+22.7%−2.1%+19.2%−22.2%−0.8%+7.9%+9.9%+5.6%+28.8%−21.6%−9.7%+4.1%−17.9%+48.2%+55.8%
BMY Bristol-Myers Squibb Company16 of 29+0.1%+15.8%−26.1%+19.0%+2.9%+0.4%+27.7%−12.9%+7.7%−13.5%+19.3%+14.2%+70.0%−3.8%+39.4%+8.8%+14.8%−6.1%+4.8%+19.9%−6.2%−7.2%+29.1%−52.4%−26.2%+17.1%−2.8%+42.9%+77.1%
SNY Sanofi13 of 23+4.9%+1.1%+6.5%+0.5%+7.0%+0.4%+20.5%+6.0%+9.9%−1.2%−3.4%−11.9%+17.1%+36.0%+18.8%−13.4%+28.7%−26.5%+1.0%+7.2%+11.6%+8.2%+26.2%——————
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Risk and diversification

How MRK 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 MRK's worst declines?

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

DuringMRK fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−68.6%−41.3%Dec 2000Mar 20098.3 yearsFeb 20144.9 years
No named crash−47.2%—Jan 1992Aug 199319 monthsJul 199523 months
No named crash−43.4%+9.3%Jun 2024May 202511 monthsJun 202613 months
No named crash−36.5%+6.3%Mar 1999Mar 200012 monthsOct 20007 months
No named crash−32.8%—Sep 1987Jan 19884 monthsMay 198916 months

How did MRK do in stock market crashes?

This section measures how far MRK, 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 MRK.

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
MRK This pageMerck & Co., Inc.—−2.4%−10.8%−19.3%−9.7%−6.6%−18.2%−17.4%−2.3%−63.3%−57.5%
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%
TEVA Teva Pharmaceutical Industries Limited2 of 10−7.4%−34.0%−50.3%−40.1%−10.7%−21.8%−25.8%−2.4%−23.5%−34.7%
LLY Eli Lilly and Company6 of 10−0.6%−11.7%−16.9%−10.2%−8.6%−19.6%−10.9%0.0%−50.0%−54.3%
ABBV AbbVie Inc.2 of 6−1.5%−21.9%−32.1%−18.1%−5.8%−29.8%————
MCK McKesson Corporation4 of 10−0.9%−10.5%−32.1%−20.7%−6.5%−30.8%−14.2%−3.5%−57.7%−39.4%
AMGN Amgen Inc.5 of 10−1.2%−11.9%−18.3%−14.3%−7.4%−22.1%−12.6%−0.5%−31.3%−60.2%
NVS Novartis AG4 of 10−1.1%−20.4%−25.5%−9.9%−6.6%−30.1%−14.5%−2.6%−41.7%−25.7%
GILD Gilead Sciences, Inc.5 of 10−1.6%−20.0%−13.7%−22.7%−5.5%−28.7%−18.2%−2.1%−34.3%−53.6%
TMO Thermo Fisher Scientific Inc.3 of 10−2.4%−19.8%−24.8%−17.2%−8.7%−14.7%−24.4%−3.6%−53.9%−41.8%
VTRS Viatris Inc.2 of 10−6.9%−43.3%−37.3%−32.8%−6.8%−31.9%−32.4%−0.1%−64.4%−47.3%
IQV IQVIA Holdings Inc.1 of 6−6.8%−35.9%−48.9%−19.2%−5.3%−28.7%————
AZN AstraZeneca PLC5 of 10−0.5%−25.7%−22.6%−11.4%−6.4%−18.0%−16.4%−1.1%−37.4%−43.5%
JNJ Johnson & Johnson6 of 10−1.1%−12.7%−25.4%−16.9%−8.2%−9.0%−9.8%−0.1%−34.4%−35.9%
XBI State Street SPDR S&P Biotech ETF2 of 9−6.9%−43.6%−32.9%−32.5%−5.5%−42.6%−26.7%−4.1%−37.5%—
BIIB Biogen Inc.2 of 10−2.5%−22.4%−21.2%−21.7%−9.3%−24.6%−19.4%−0.6%−52.7%−59.8%
PFE Pfizer Inc.5 of 10−1.8%−24.6%−21.8%−12.3%−8.1%−18.2%−16.1%−1.8%−49.8%−46.0%
REGN Regeneron Pharmaceuticals, Inc.3 of 10−0.2%−25.8%−12.7%−17.3%−7.3%−37.7%−23.2%−7.2%−49.9%−71.6%
ZTS Zoetis Inc.0 of 6−4.2%−34.9%−35.7%−16.7%−6.9%−18.9%————
TAK Takeda Pharmaceutical Company Limited3 of 8−0.6%−14.8%−31.5%−27.9%−6.5%−17.0%−5.6%−3.7%——
NVO Novo Nordisk A/S5 of 10−1.1%−21.4%−23.7%−13.8%−3.9%−20.8%−23.1%−1.7%−40.9%−51.0%
GSK GSK plc6 of 10−0.3%−37.6%−26.5%−11.5%−4.3%−15.7%−12.4%−2.0%−46.6%−45.1%
BMY Bristol-Myers Squibb Company5 of 10−2.3%−16.0%−29.4%−22.9%−4.1%−16.3%−10.5%0.0%−39.2%−69.5%
SNY Sanofi3 of 9−0.5%−33.5%−25.2%−9.0%−9.8%−30.2%−20.7%−2.8%−46.6%—
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How closely does MRK 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 MRK 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 MRK's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
MRK This pageMerck & Co., Inc.64%46%1.390.30
LLY Eli Lilly and Company101%6%15.730.37
MCK McKesson Corporation72%27%2.710.56
ABBV AbbVie Inc.92%57%1.620.54
AZN AstraZeneca PLC60%39%1.520.39
GILD Gilead Sciences, Inc.52%36%1.440.35
JNJ Johnson & Johnson64%53%1.200.46
AMGN Amgen Inc.74%64%1.160.54
NVS Novartis AG69%64%1.080.49
TMO Thermo Fisher Scientific Inc.104%104%1.000.81
REGN Regeneron Pharmaceuticals, Inc.55%66%0.840.19
GSK GSK plc51%61%0.820.52
NVO Novo Nordisk A/S75%94%0.800.60
IQV IQVIA Holdings Inc.128%167%0.771.31
XBI State Street SPDR S&P Biotech ETF93%122%0.761.01
BMY Bristol-Myers Squibb Company55%75%0.730.41
SNY Sanofi53%74%0.720.46
PFE Pfizer Inc.52%81%0.650.54
ZTS Zoetis Inc.64%101%0.640.72
TAK Takeda Pharmaceutical Company Limited34%58%0.580.44
TEVA Teva Pharmaceutical Industries Limited55%116%0.481.11
VTRS Viatris Inc.74%179%0.411.14
BIIB Biogen Inc.35%91%0.380.28
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What diversifies MRK?

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

ETFs

InvestmentCorrelation5Y returnSharpe202420202017201520082004200320022001199980/20 mix volatility80/20 mix annual return
MRK Merck & Co., Inc. (this page)1.00+113%0.74−6.3%−7.2%−1.5%−3.9%−45.3%−27.7%−11.2%−1.2%−36.0%−7.7%24.7%+17.6%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.35+119%1.48+15.9%−9.0%+10.0%———————20.5%+18.0%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.37+225%1.34+29.8%+3.9%+22.8%+7.7%−20.8%—————20.8%+19.9%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.24+101%1.04+33.4%−13.4%+1.1%−25.3%——————20.7%+17.8%
HDV Dividend & IncomeiShares Core High Dividend ETF0.41+83.3%1.00+14.1%−6.5%+13.5%−0.3%——————21.1%+17.0%
SMH TechnologyVanEck Semiconductor ETF-0.05+323%0.97+39.1%+55.5%+38.5%−0.3%−44.7%−19.3%+87.3%−47.0%−14.6%—20.6%+23.1%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.31+85.0%0.96+13.4%+2.1%+16.7%+4.1%——————20.6%+17.3%
GLD CommoditiesSPDR Gold Shares0.08+126%0.96+26.7%+24.8%+12.8%−10.7%+4.9%—————20.3%+18.5%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.15+136%0.93+45.8%+28.2%+27.8%———————20.8%+19.2%

Stocks

InvestmentCorrelation5Y returnSharpe202420202017201520082004200320022001199980/20 mix volatility80/20 mix annual return
MRK Merck & Co., Inc. (this page)1.00+113%0.74−6.3%−7.2%−1.5%−3.9%−45.3%−27.7%−11.2%−1.2%−36.0%−7.7%24.7%+17.6%
CAH Medical - DistributionCardinal Health, Inc.0.26+479%1.55+19.0%+10.1%−12.7%+12.6%−39.6%−4.7%+3.5%−8.3%−2.5%−36.8%21.8%+22.3%
CLS Hardware, Equipment & PartsCelestica Inc.-0.20+3,143%1.47+215%−2.4%−11.6%−6.0%−20.5%−6.4%+6.9%−65.1%−25.6%+350%20.9%+36.7%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.09+1,636%1.46+107%+6.7%+32.1%+67.7%−15.2%+40.0%+63.6%−9.4%+73.7%−58.7%22.4%+31.7%
MCK Medical - DistributionMcKesson Corporation0.19+413%1.44+23.7%+27.1%+12.0%−4.5%−40.4%−1.4%+19.9%−27.2%+4.9%−71.3%21.3%+21.8%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.22+690%1.41−4.0%−27.4%+34.8%+17.4%——————22.1%+24.5%
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Common questions

What was MRK's worst drawdown?

MRK's deepest decline since it began trading in 1986 was 68.6%, from December 2000 to March 2009. It took about five years from the low to climb back to its old high.

What were MRK's best and worst years?

Over 29 full calendar years, MRK's best year was 2022, when it returned 49.4%. Its worst was 2008, with a return of -45.3%.

Is there a better investment than MRK?

Among MRK's popular alternatives, ABBV earned more than MRK with less volatility over the past 5 years: 26.1% a year at 23.4% volatility, against 16.3% a year at 24.8%. Looking beyond its popular alternatives, COR (health care distribution) earned more than MRK with less volatility over the past 5 years: 24.2% a year at 22.8% volatility, against 16.3% a year at 24.8%.

Is MRK more volatile than the S&P 500?

Yes. MRK's volatility over the past 5 years was 24.8%, 1.4 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MRK's return lands within 24.8% 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 MRK's Sharpe ratio?

MRK's Sharpe ratio over the past 5 years was 0.74, against 0.79 for the S&P 500, so MRK 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 MRK with the S&P 500?

Over the past 5 years, MRK's monthly returns had a correlation of 0.13 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against MRK instead: the lower it is, the more that option would diversify a MRK holding.

What are the best alternatives to MRK?

Of the 22 popular alternatives we compared, one outperformed MRK in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: TEVA.

Did MRK outperform the S&P 500?

MRK finished ahead of the S&P 500 (SPY) in 11 of 29 full calendar years. In 2025, it returned +9.8%, against +17.7% for the index.

How did MRK do in stock market crashes?

MRK 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 Covid crash, when MRK fell 19.3% and the S&P 500 fell 33.7%.

What diversifies MRK?

These had a low correlation with MRK over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.35), DXJ (correlation 0.37) and EMLP (correlation 0.24); among large stocks, CAH (correlation 0.26), CLS (correlation -0.20) and FIX (correlation 0.09). A correlation near zero means the two have moved largely independently.

How we measure

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Popular alternatives to MRK