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Relative Intelligence · Banks

How Mitsubishi UFJ Financial Group (MUFG) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on MUFG alone. It places MUFG (Mitsubishi UFJ Financial Group, 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 MUFG stands in the market, and of the alternatives worth a closer look.

Period covered: MUFG's full trading record, from September 1989 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 MUFG →Chart MUFG vs. 21 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in MUFG over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of MUFG over the same span and MUFG'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. 908 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of MUFG; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$2,000$5,000$10,000$20,000$50,000$100,000$200,000199720022007201220172022$10,000$100,00019972004201120182025
  • JPM$189,407+1,794% total · +10.7% a year
  • MS$148,562+1,386% total · +9.8% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • BBVA$107,161+972% total · +8.5% a year
  • SAN$81,349+713% total · +7.5% a year
  • ING$45,632+356% total · +5.4% a year
  • BCS$24,345+143% total · +3.1% a year
  • MUFG$22,774+128% total · +2.9% a year
  • C$11,853+18.5% total · +0.6% a year
  • DB$9,567−4.3% total · −0.2% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 160 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of MUFG; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$20,000$40,000$60,000$80,000202120222023202420252026$0$20,000$40,000$60,000$80,000202120222023202420252026
  • MPC$71,516+615% total · +48.2% a year
  • PBR-A$67,821+578% total · +46.6% a year
  • TRGP$61,030+510% total · +43.6% a year
  • BBVA$57,750+478% total · +42.0% a year
  • LLY$52,411+424% total · +39.3% a year
  • CAH$49,682+397% total · +37.8% a year
  • MUFG$44,537+345% total · +34.8% a year
  • CM$25,433+154% total · +20.5% a year
  • JPM$22,905+129% total · +18.0% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
Change the dates or add tickers to this chart in EasyCompare

MUFG 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
$244B
Industry
Banks - Diversified
Price history from
September 1989

Returns

Past 1 year
+41.3%total return
Past 3 years
+184%+41.7% a year
Past 5 years
+319%+33.2% a year
Past 10 years
+483%+19.3% a year
Best calendar year
+47.6%2003
Worst calendar year
−33.1%2001
Losing years
13 of 29full calendar years

Risk

Volatility
29.4%typical yearly swing, 5 years
Sharpe ratio
1.13return per unit of risk, 5 years
Worst decline ever
−88.3%Oct 1993 to Apr 2003
From its all-time high
−9.7%below the peak

MUFG against the whole market

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

How does MUFG rank among all stocks?

This section ranks MUFG 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 MUFG 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.

MeasureMUFGRankStanding
1-year return+41.3%703 of 3,287top 21%
3-year return+184%455 of 3,017top 15%
5-year return+319%147 of 2,893top 5%
10-year return+483%322 of 2,202top 15%
Volatility, 5 years29.4%671 of 2,893top 23%
Sharpe ratio, 5 years1.1343 of 2,893top 1%
Worst decline, past 10 years−54.9%660 of 2,187top 30%

What has beaten MUFG 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). MUFG sits where the dashed lines cross. Anything in the green box above and to the left earned more than MUFG 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 MUFG. 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

15.0%20.0%25.0%30.0%35.0%40.0%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 MUFGMUFG: +33.2% a year, volatility 29.4%SPY (S&P 500): +12.7% a year, volatility 17.1%CAH: +42.1% a year, volatility 24.7%MCK: +38.7% a year, volatility 25.0%LLY: +40.7% a year, volatility 32.8%TRGP: +41.8% a year, volatility 31.7%MPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%IGPT: +14.3% a year, volatility 30.1%MUFGSPY (S&P 500)CAHMCKLLYTRGPMPCPBR-AIGPT15.0%20.0%25.0%30.0%35.0%40.0%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 MUFGMUFG: +33.2% a year, volatility 29.4%SPY (S&P 500): +12.7% a year, volatility 17.1%CAH: +42.1% a year, volatility 24.7%MCK: +38.7% a year, volatility 25.0%LLY: +40.7% a year, volatility 32.8%TRGP: +41.8% a year, volatility 31.7%MPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%IGPT: +14.3% a year, volatility 30.1%MUFGSPY (S&P 500)CAHMCKLLYTRGPMPCIGPT
  • The whole market

Is there a better investment than MUFG?

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

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

Screen the whole market against MUFG for any period in BetterThanSPYOpen these 8 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 MUFG?lower diversifies moreExpenseper year
MUFGMitsubishi UFJ Financial Group, Inc. · this page
+33.2%29.4%1.13−54.9%+483%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.280.09%
The whole marketbest 7 shownEvery other stock and fund worth at least $500 million. 37 of 3,490 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%0.09—
MCKMcKesson Corporation · Health Care Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+38.7%25.0%1.44−38.1%+586%0.28—
LLYEli Lilly and Company · Pharmaceuticals
Higher return in most periodsSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%-0.22—
TRGPTarga Resources Corp. · Oil & Gas Midstream
Higher return, similar volatilityHigher return in most periods+41.8%31.7%1.27−90.8%+829%0.32—
MPCMarathon Petroleum Corporation · Oil & Gas
On the frontierHigher return in most periods+51.2%33.4%1.41−79.7%+1,387%0.23—
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
On the frontierHigher return in most periods+51.8%37.5%1.31−71.7%+768%0.23—
IGPTInvesco AI and Next Gen Software ETF · Technology
Smaller losses in recent crashes+14.3%30.1%0.60−50.1%+525%0.140.57%
What these numbers mean for MUFG
Annual return
MUFG returned 33.2% 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 $41,900. 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
MUFG's volatility over the past 5 years was 29.4%, 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, MUFG's return lands within 29.4% 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
MUFG's Sharpe ratio over the past 5 years was 1.13, against 0.79 for the S&P 500, so MUFG earned more 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
MUFG's worst fall from a peak to a low over the past 10 years was 54.9%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 54.9% fall takes a 122% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, MUFG's monthly returns had a correlation of 0.28 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 MUFG instead: the lower it is, the more that option would diversify a MUFG holding. Guide: Correlation and diversification →
Show all 2 stocks and funds worth at least $500 million that earned more than MUFG with less volatility

Out of 3,633 tested over 5 years. Best first; funds that hold the same thing are listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with MUFGExpense
1
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.09—
2
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.28—

MUFG against its popular alternatives

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

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

Green points earned more than MUFG 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%0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityMUFG: 33.2% a year, volatility 29.4%SPY (S&P 500): 12.7% a year, volatility 17.1%ING: 24.7% a year, volatility 31.1%SAN: 31.6% a year, volatility 33.9%BCS: 18.5% a year, volatility 34.1%DB: 22.1% a year, volatility 37.4%SMFG: 33.7% a year, volatility 29.4%UBS: 25.4% a year, volatility 30.4%NMR: 17.1% a year, volatility 29.9%BBVA: 38.7% a year, volatility 33.3%CM: 19.2% a year, volatility 21.6%JPM: 17.3% a year, volatility 24.3%MFG: 33.6% a year, volatility 30.6%HSBC: 33.1% a year, volatility 25.9%MS: 16.0% a year, volatility 28.8%C: 15.1% a year, volatility 29.4%BNS: 12.8% a year, volatility 19.9%TD: 15.8% a year, volatility 20.0%IX: 17.9% a year, volatility 25.4%EWJ: 9.3% a year, volatility 18.8%RY: 17.3% a year, volatility 18.2%BMO: 13.6% a year, volatility 21.4%BAC: 4.0% a year, volatility 26.6%MUFGSPY (S&P 500)INGSANBCSDBSMFGUBSNMRBBVACMJPMMFGHSBCMSCTDIXEWJRYBMOBAC15.0%20.0%25.0%30.0%35.0%40.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityMUFG: 33.2% a year, volatility 29.4%SPY (S&P 500): 12.7% a year, volatility 17.1%ING: 24.7% a year, volatility 31.1%SAN: 31.6% a year, volatility 33.9%BCS: 18.5% a year, volatility 34.1%DB: 22.1% a year, volatility 37.4%SMFG: 33.7% a year, volatility 29.4%UBS: 25.4% a year, volatility 30.4%NMR: 17.1% a year, volatility 29.9%BBVA: 38.7% a year, volatility 33.3%CM: 19.2% a year, volatility 21.6%JPM: 17.3% a year, volatility 24.3%MFG: 33.6% a year, volatility 30.6%HSBC: 33.1% a year, volatility 25.9%MS: 16.0% a year, volatility 28.8%C: 15.1% a year, volatility 29.4%BNS: 12.8% a year, volatility 19.9%TD: 15.8% a year, volatility 20.0%IX: 17.9% a year, volatility 25.4%EWJ: 9.3% a year, volatility 18.8%RY: 17.3% a year, volatility 18.2%BMO: 13.6% a year, volatility 21.4%BAC: 4.0% a year, volatility 26.6%MUFGSPY (S&P 500)INGSANBCSDBSMFGUBSNMRBBVACMJPMHSBCMSCTDEWJRYBAC
All figures
InvestmentAnnual returnVolatility
BBVA Banco Bilbao Vizcaya Argentaria, S.A.+38.7%33.3%
SMFG Sumitomo Mitsui Financial Group, Inc.+33.7%29.4%
MFG Mizuho Financial Group, Inc.+33.6%30.6%
MUFG This pageMitsubishi UFJ Financial Group, Inc.+33.2%29.4%
HSBC HSBC Holdings plc+33.1%25.9%
SAN Banco Santander, S.A.+31.6%33.9%
UBS UBS Group AG+25.4%30.4%
ING ING Groep N.V.+24.7%31.1%
DB Deutsche Bank AG+22.1%37.4%
CM Canadian Imperial Bank of Commerce+19.2%21.6%
BCS Barclays PLC+18.5%34.1%
IX ORIX Corporation+17.9%25.4%
JPM JPMorgan Chase & Co.+17.3%24.3%
RY Royal Bank of Canada+17.3%18.2%
NMR Nomura Holdings, Inc.+17.1%29.9%
MS Morgan Stanley+16.0%28.8%
TD The Toronto-Dominion Bank+15.8%20.0%
C Citigroup Inc.+15.1%29.4%
BMO Bank of Montreal+13.6%21.4%
BNS The Bank of Nova Scotia+12.8%19.9%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
EWJ iShares MSCI Japan ETF+9.3%18.8%
BAC Bank of America Corporation+4.0%26.6%
Open these 23 in EasyCompare

Has MUFG consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than MUFG 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
MUFG Mitsubishi UFJ Financial Group, Inc. (this page)—−6.9%+1.8%+19.6%+36.5%+41.3%+184%+319%+483%29.4%1.13−54.9%—$244B—
BBVA Banks - DiversifiedBanco Bilbao Vizcaya Argentaria, S.A.1/5 short3/3 long−10.4%+3.1%+11.7%+11.3%+35.2%+281%+413%+542%33.3%1.16−69.6%—$142B—
CM Banks - DiversifiedCanadian Imperial Bank of Commerce2/5 short1/3 long−2.0%−3.3%+4.3%+25.8%+44.4%+261%+141%+395%21.6%0.93−47.3%—$103B—
JPM Banks - DiversifiedJPMorgan Chase & Co.1/5 short1/3 long−4.3%−0.6%+6.8%+5.0%+13.0%+150%+122%+537%24.3%0.78−43.6%—$891B—
MFG Banks - RegionalMizuho Financial Group, Inc.1/5 short1/3 long−10.6%+0.7%+15.2%+33.7%+53.1%+216%+326%+345%30.6%1.10−45.7%—$121B—
ING Banks - DiversifiedING Groep N.V.1/5 short1/3 long−10.7%+2.4%+14.0%+18.9%+42.5%+209%+201%+339%31.1%0.87−74.4%—$94B—
HSBC Banks - DiversifiedHSBC Holdings plc1/5 short1/3 long−10.1%−5.9%+2.3%+19.8%+47.7%+201%+318%+319%25.9%1.24−62.3%—$324B—
MS Financial - Capital MarketsMorgan Stanley0/5 short1/3 long−12.5%−14.0%−4.4%+0.8%+13.9%+170%+110%+627%28.8%0.66−51.3%—$285B—
SAN Banks - DiversifiedBanco Santander, S.A.0/5 short1/3 long−10.2%−1.4%+4.5%+9.8%+35.9%+305%+295%+332%33.9%0.99−73.8%—$194B—
BCS Banks - DiversifiedBarclays PLC0/5 short1/3 long−11.7%−17.1%−6.2%−13.3%+15.1%+242%+134%+238%34.1%0.67−66.0%—$75B—
C Banks - DiversifiedCitigroup Inc.0/5 short1/3 long−9.3%−4.3%−7.0%+4.8%+26.0%+238%+102%+234%29.4%0.63−56.5%—$206B—
DB Banks - RegionalDeutsche Bank AG0/5 short1/3 long−17.1%−8.6%−1.6%−17.0%−3.1%+244%+171%+165%37.4%0.72−72.7%—$60B—
BNS Banks - DiversifiedThe Bank of Nova Scotia4/5 short0/3 long−2.3%+6.9%+22.4%+28.9%+50.0%+162%+83.1%+187%19.9%0.71−46.9%—$112B—
TD Banks - DiversifiedThe Toronto-Dominion Bank2/5 short0/3 long−0.9%+2.1%+16.3%+33.1%+57.5%+141%+109%+310%20.0%0.84−42.0%—$206B—
IX Financial - Credit ServicesORIX Corporation2/5 short0/3 long−6.2%−2.9%+16.7%+27.9%+50.8%+128%+128%+284%25.4%0.78−42.5%—$41B—
EWJ InternationaliShares MSCI Japan ETF2/5 short0/3 long−2.6%+5.5%+7.4%+18.0%+19.2%+79.1%+55.6%+132%18.8%0.57−33.1%0.49%$23B—
SMFG Banks - DiversifiedSumitomo Mitsui Financial Group, Inc.1/5 short0/3 long−7.9%−1.3%+15.9%+28.3%+53.5%+181%+327%+474%29.4%1.14−47.6%—$94B—
RY Banks - DiversifiedRoyal Bank of Canada1/5 short0/3 long−3.5%−4.8%+12.0%+18.9%+39.2%+173%+122%+352%18.2%0.97−40.0%—$276B—
BMO Banks - DiversifiedBank of Montreal1/5 short0/3 long−5.5%−5.3%+10.8%+29.7%+37.6%+146%+89.4%+295%21.4%0.71−51.0%—$116B—
UBS Banks - DiversifiedUBS Group AG0/5 short0/3 long−7.5%−8.3%+10.6%+2.9%+26.3%+116%+210%+374%30.4%0.90−59.8%—$145B—
BAC Banks - DiversifiedBank of America Corporation0/5 short0/3 long−12.6%−15.8%−5.2%−8.0%−0.6%+107%+21.6%+282%26.6%0.28−49.0%—$354B—
NMR Financial - Capital MarketsNomura Holdings, Inc.0/5 short0/3 long−10.0%−2.8%+7.5%+8.0%+28.2%+162%+120%+179%29.9%0.68−54.0%—$27B—
Open these 22 in EasyCompare

How did MUFG do year by year?

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

InvestmentYears ahead of MUFG20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
MUFG This pageMitsubishi UFJ Financial Group, Inc.—+40.0%+39.7%+32.7%+26.2%+27.9%−13.7%+15.8%−31.3%+20.7%+2.5%+15.2%−14.6%+26.0%+33.1%−19.9%+13.3%−19.1%−32.3%−24.2%−8.6%+35.4%+31.3%+47.6%−16.0%−33.1%−30.0%+33.4%−24.8%−24.2%
Rank among alternativesTop quarter in 6 of 2917 of 227 of 225 of 221 of 2212 of 2218 of 2216 of 2218 of 2213 of 2217 of 224 of 2215 of 2211 of 2211 of 2210 of 229 of 2219 of 223 of 2217 of 2220 of 203 of 205 of 2015 of 2012 of 2019 of 2018 of 198 of 1715 of 1615 of 16
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%
BBVA Banco Bilbao Vizcaya Argentaria, S.A.14 of 29+154%+14.2%+62.5%+10.0%+22.2%−6.4%+10.9%−35.0%+31.3%−1.5%−19.3%−20.6%+39.6%+18.2%−10.8%−39.7%+53.1%−45.6%+4.6%+39.4%+4.1%+32.9%+47.9%−19.3%−13.1%+8.9%−9.5%+51.7%+85.6%
CM Canadian Imperial Bank of Commerce18 of 28+49.0%+37.9%+26.5%−26.8%+44.7%+9.3%+20.3%−19.8%+23.5%+29.8%−19.6%+4.8%+11.0%+16.8%−3.3%+27.1%+64.3%−37.9%−12.0%+32.5%+13.7%+26.0%+87.9%−14.9%+14.2%+38.0%+1.2%−17.2%—
JPM JPMorgan Chase & Co.18 of 29+37.3%+44.3%+30.6%−12.6%+27.8%−5.5%+47.3%−6.6%+26.8%+34.5%+8.4%+9.9%+36.7%+36.2%−19.9%+2.3%+34.4%−25.1%−6.9%+25.7%+5.7%+10.0%+60.5%−30.7%−17.4%−10.1%+11.7%+32.9%+25.5%
MFG Mizuho Financial Group, Inc.6 of 19+54.5%+47.8%+26.2%+17.2%+4.9%−12.8%+7.3%−14.1%+4.9%−7.2%+23.0%−19.3%+22.2%+43.0%−23.4%+10.1%−35.1%−38.1%−33.1%——————————
ING ING Groep N.V.14 of 29+91.3%+12.2%+32.0%−4.4%+55.4%−21.6%+20.6%−39.4%+36.7%+11.1%+6.4%−7.4%+47.6%+32.5%−26.8%−0.2%−11.7%−69.6%−8.2%+31.9%+20.8%+36.1%+48.7%−31.3%−34.4%+35.1%+0.4%+49.9%+25.1%
HSBC HSBC Holdings plc15 of 27+67.9%+34.5%+39.3%+7.8%+20.8%−31.7%+1.5%−16.1%+35.9%+9.9%−11.5%−10.2%+8.5%+45.9%−22.2%−7.5%+22.2%−38.0%−4.0%+18.9%−1.5%+12.6%+52.3%−5.2%−15.3%+6.5%——+15.8%
MS Morgan Stanley17 of 29+45.2%+39.7%+13.9%−10.3%+46.6%+38.1%+32.7%−22.8%+26.6%+36.1%−16.7%+25.0%+65.4%+27.6%−43.9%−7.5%+88.3%−68.8%−22.1%+46.3%+4.6%−2.0%+48.4%−27.0%−28.1%+12.3%+103%+21.9%+80.3%
SAN Banco Santander, S.A.16 of 29+165%+14.9%+46.4%−6.8%+10.2%−19.6%−2.2%−28.5%+33.3%+12.3%−37.9%−0.4%+27.4%+22.8%−20.2%−30.2%+91.8%−52.3%+20.2%+47.1%+10.5%+6.8%+77.6%−11.3%−19.8%−7.6%+20.1%+23.7%+53.6%
BCS Barclays PLC14 of 29+96.5%+76.2%+6.0%−21.9%+31.6%−12.8%+31.9%−29.3%+0.5%−12.8%−11.4%−14.9%+16.1%+61.7%−31.9%−4.7%+80.0%−73.6%−27.2%+44.2%−4.0%+31.1%+55.0%−23.6%+7.7%+16.0%+30.3%−16.6%+62.3%
C Citigroup Inc.16 of 29+70.4%+41.9%+19.0%−22.1%+0.9%−19.7%+57.9%−28.5%+27.0%+15.9%−4.1%+3.9%+31.8%+50.5%−44.3%+42.9%−50.6%−75.9%−44.8%+19.6%+4.6%+2.8%+41.6%−20.4%+0.1%+23.6%+70.2%−6.8%+79.9%
DB Deutsche Bank AG11 of 29+133%+29.4%+21.4%−5.9%+14.7%+40.1%−2.9%−56.7%+6.4%−25.0%−17.7%−36.4%+10.9%+19.7%−26.1%−20.1%+75.4%−65.5%−0.6%+42.0%+12.3%+9.8%+83.6%−34.3%−22.1%0.0%+58.2%−16.7%+54.6%
BNS The Bank of Nova Scotia17 of 26+45.1%+17.5%+6.0%−28.8%+40.6%+1.7%+17.5%−19.2%+20.5%+43.7%−25.1%−4.2%+11.5%+21.0%−9.6%+27.1%+82.6%−44.4%+16.6%+16.8%+21.4%+40.4%+59.9%+232%+17.5%+25.4%———
TD The Toronto-Dominion Bank20 of 29+85.3%−13.4%+4.5%−12.2%+41.3%+5.6%+17.5%−12.1%+22.9%+30.9%−14.9%+5.0%+16.1%+16.8%+4.1%+22.7%+85.4%−46.8%+20.4%+16.1%+30.7%+29.7%+61.4%−11.7%−7.2%+11.2%+58.4%−2.9%+52.7%
IX ORIX Corporation17 of 27+43.4%+17.6%+20.1%−17.8%+36.9%−1.9%+22.4%−12.5%+12.1%+14.1%+16.4%−28.6%+58.9%+39.6%−14.8%+43.7%+22.8%−66.0%−42.0%+15.7%+86.0%+68.7%+27.3%−28.0%−7.3%−48.9%+199%——
EWJ iShares MSCI Japan ETF15 of 29+25.8%+7.0%+20.3%−17.7%+1.1%+15.4%+19.3%−14.1%+24.2%+2.8%+9.2%−6.2%+26.0%+9.2%−14.8%+13.6%+3.1%−27.0%−5.5%+5.9%+24.3%+13.7%+38.7%−9.9%−30.3%−26.3%+60.9%+4.0%−24.4%
SMFG Sumitomo Mitsui Financial Group, Inc.9 of 19+38.0%+54.8%+25.7%+24.5%+18.6%−10.9%+19.4%−22.2%+18.0%+5.2%+7.7%−28.7%+47.2%+38.4%−19.2%+30.0%−28.6%−43.6%−27.1%——————————
RY Royal Bank of Canada18 of 29+46.3%+23.8%+12.2%−8.0%+34.1%+8.4%+20.2%−12.9%+23.9%+31.8%−19.3%+6.7%+16.0%+23.3%+1.2%+1.4%+89.3%−39.4%+10.7%+26.0%+50.7%+15.9%+33.6%+15.8%−0.9%+58.5%−9.5%−3.5%+54.8%
BMO Bank of Montreal16 of 29+39.6%+3.0%+14.6%−12.4%+46.9%+3.3%+23.9%−14.9%+15.4%+32.9%−16.8%+10.4%+13.7%+17.3%−0.3%+13.7%+121%−51.9%−0.4%+9.4%+20.4%+21.0%+62.9%+23.0%−9.6%+62.5%−10.8%−6.1%+44.8%
UBS UBS Group AG14 of 25+57.6%+0.7%+69.8%+7.4%+29.4%+19.5%+7.1%−29.9%+17.4%−14.4%+18.1%−10.2%+23.3%+34.3%−28.2%+6.2%+8.5%−68.9%−21.5%+32.5%+18.2%+27.9%+50.4%+1.7%−8.0%————
BAC Bank of America Corporation17 of 29+28.0%+33.9%+4.9%−23.8%+49.6%−11.6%+46.1%−15.0%+35.7%+33.4%−4.8%+15.7%+34.5%+109%−58.1%−11.2%+7.6%−63.1%−18.9%+20.8%+2.4%+21.5%+20.1%+14.6%+42.7%−4.5%−14.0%+1.2%+27.3%
NMR Nomura Holdings, Inc.15 of 29+53.9%+33.9%+24.9%−10.4%−15.5%+8.8%+44.5%−34.4%+1.5%+9.3%+1.1%−26.0%+35.1%+99.5%−52.2%−12.5%−10.6%−49.0%−9.7%+1.1%+33.8%−13.0%+58.3%−10.4%+6.7%+11.5%+158%−26.9%+7.4%
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Risk and diversification

How MUFG 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 MUFG's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents MUFG's five deepest drawdowns since it began trading in 1989, 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 MUFG fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringMUFG fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−88.3%+127%Oct 1993Apr 20039.5 yearsAug 202522.3 years
No named crash−51.1%—Oct 1991Apr 19926 monthsMar 199311 months
No named crash−47.8%—Jan 1990Oct 19909 monthsOct 199112 months
No named crash−17.3%−7.0%Feb 2026Mar 20261 monthJun 20263 months
No named crash−12.8%−0.3%Jun 1993Jun 1993Under a monthJul 19931 month

How did MUFG do in stock market crashes?

This section measures how far MUFG, 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 MUFG.

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
MUFG This pageMitsubishi UFJ Financial Group, Inc.—−9.5%−33.4%−33.0%−27.0%−6.7%−45.1%−20.7%−0.3%−65.5%−65.1%
SPY S&P 500State Street SPDR S&P 500 ETF7 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
BBVA Banco Bilbao Vizcaya Argentaria, S.A.4 of 10−10.9%−39.6%−47.9%−22.7%−5.4%−41.0%−32.7%0.0%−75.7%−55.9%
CM Canadian Imperial Bank of Commerce6 of 10−7.0%−36.2%−43.6%−22.2%−5.9%−25.3%−12.9%0.0%−71.8%−39.8%
JPM JPMorgan Chase & Co.4 of 10−5.4%−37.9%−42.5%−21.3%−5.6%−22.0%−32.1%−0.1%−67.7%−74.0%
MFG Mizuho Financial Group, Inc.6 of 9−9.7%−24.1%−29.6%−18.1%−4.2%−34.9%−17.7%−1.0%−72.2%—
ING ING Groep N.V.3 of 10−10.7%−43.4%−56.9%−24.1%−5.8%−35.4%−47.4%−3.6%−93.0%−66.4%
HSBC HSBC Holdings plc7 of 10−7.3%−31.8%−20.5%−13.1%−4.6%−30.8%−25.1%0.0%−73.8%−41.4%
MS Morgan Stanley4 of 10−8.2%−32.4%−50.6%−24.6%−6.7%−43.9%−47.7%0.0%−86.2%−72.0%
SAN Banco Santander, S.A.3 of 10−11.4%−41.0%−48.1%−19.0%−6.0%−44.7%−33.2%−0.9%−76.1%−58.4%
BCS Barclays PLC3 of 10−10.2%−48.1%−57.1%−22.9%−4.1%−50.6%−44.9%−4.8%−93.9%−38.4%
C Citigroup Inc.2 of 10−11.7%−39.2%−54.8%−33.1%−6.7%−40.3%−42.6%−1.0%−97.7%−52.7%
DB Deutsche Bank AG0 of 10−11.6%−54.2%−48.6%−36.3%−9.3%−54.8%−46.8%0.0%−82.7%−64.9%
BNS The Bank of Nova Scotia7 of 10−4.6%−35.4%−43.0%−17.7%−6.1%−24.3%−19.8%0.0%−63.8%−23.6%
TD The Toronto-Dominion Bank8 of 10−6.7%−29.0%−41.0%−20.9%−5.5%−18.1%−19.6%0.0%−63.4%−44.1%
IX ORIX Corporation3 of 10−5.1%−35.0%−39.1%−19.6%−7.2%−20.7%−31.9%−3.0%−91.8%−66.0%
EWJ iShares MSCI Japan ETF9 of 10−2.3%−27.6%−24.8%−18.4%−6.2%−20.8%−15.2%−0.8%−51.6%−56.7%
SMFG Sumitomo Mitsui Financial Group, Inc.6 of 9−9.2%−24.7%−32.2%−23.2%−4.5%−44.2%−19.8%−2.2%−70.9%—
RY Royal Bank of Canada7 of 10−3.8%−26.0%−40.0%−17.1%−5.7%−23.1%−21.8%0.0%−63.1%−21.6%
BMO Bank of Montreal6 of 10−5.5%−30.5%−49.4%−23.5%−6.2%−18.9%−16.4%0.0%−68.5%−26.5%
UBS UBS Group AG2 of 9−9.5%−32.5%−42.3%−28.5%−8.2%−36.7%−39.7%−0.9%−87.5%—
BAC Bank of America Corporation3 of 10−12.4%−38.7%−47.8%−26.4%−6.9%−37.8%−45.2%−0.6%−93.4%−36.3%
NMR Nomura Holdings, Inc.5 of 10−6.2%−31.1%−29.2%−28.0%−7.7%−40.5%−30.3%0.0%−77.6%−56.9%
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How closely does MUFG 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 MUFG 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 MUFG's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
MUFG This pageMitsubishi UFJ Financial Group, Inc.84%42%2.010.66
SMFG Sumitomo Mitsui Financial Group, Inc.84%43%1.940.65
MFG Mizuho Financial Group, Inc.75%42%1.810.54
HSBC HSBC Holdings plc79%53%1.490.58
BBVA Banco Bilbao Vizcaya Argentaria, S.A.121%97%1.251.11
JPM JPMorgan Chase & Co.117%103%1.141.09
IX ORIX Corporation84%75%1.110.86
RY Royal Bank of Canada97%88%1.110.88
SAN Banco Santander, S.A.101%92%1.101.02
TD The Toronto-Dominion Bank89%80%1.100.88
MS Morgan Stanley142%137%1.041.39
CM Canadian Imperial Bank of Commerce108%106%1.021.07
NMR Nomura Holdings, Inc.81%82%0.990.76
UBS UBS Group AG116%120%0.971.18
BMO Bank of Montreal104%112%0.931.12
EWJ iShares MSCI Japan ETF65%71%0.920.67
ING ING Groep N.V.136%155%0.881.36
BAC Bank of America Corporation127%146%0.871.36
BCS Barclays PLC113%131%0.861.26
DB Deutsche Bank AG102%118%0.861.21
BNS The Bank of Nova Scotia97%120%0.811.05
C Citigroup Inc.131%165%0.801.49
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What diversifies MUFG?

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

ETFs

InvestmentCorrelation5Y returnSharpe202020182014201120092008200720062002200120001998199780/20 mix volatility80/20 mix annual return
MUFG Mitsubishi UFJ Financial Group, Inc. (this page)1.00+319%1.13−13.7%−31.3%−14.6%−19.9%−19.1%−32.3%−24.2%−8.6%−16.0%−33.1%−30.0%−24.8%−24.2%24.8%+34.8%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.48+119%1.48−9.0%−5.2%———————————20.8%+31.5%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.39+225%1.34+3.9%−19.8%+8.1%−16.1%+2.0%−20.8%−7.4%——————20.9%+33.7%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.33+101%1.04−13.4%−8.7%+23.8%——————————20.9%+31.3%
HDV Dividend & IncomeiShares Core High Dividend ETF0.40+83.3%1.00−6.5%−3.0%+12.6%——————————21.1%+30.5%
SMH TechnologyVanEck Semiconductor ETF0.20+323%0.97+55.5%−9.1%+30.2%+6.8%+60.5%−44.7%+6.0%−6.7%−47.0%−14.6%———22.3%+36.8%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.38+85.0%0.96+2.1%−9.5%+3.4%——————————20.7%+30.8%
GLD CommoditiesSPDR Gold Shares0.18+126%0.96+24.8%−1.9%−2.2%+9.6%+24.0%+4.9%+30.4%+22.6%—————20.7%+32.1%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.19+136%0.93+28.2%−0.9%———————————21.0%+32.9%

Stocks

InvestmentCorrelation5Y returnSharpe202020182014201120092008200720062002200120001998199780/20 mix volatility80/20 mix annual return
MUFG Mitsubishi UFJ Financial Group, Inc. (this page)1.00+319%1.13−13.7%−31.3%−14.6%−19.9%−19.1%−32.3%−24.2%−8.6%−16.0%−33.1%−30.0%−24.8%−24.2%24.8%+34.8%
CAH Medical - DistributionCardinal Health, Inc.0.09+479%1.55+10.1%−24.5%+23.0%+8.1%−4.4%−39.6%−9.8%−5.8%−8.3%−2.5%+108%+51.7%+29.1%21.0%+36.6%
CLS Hardware, Equipment & PartsCelestica Inc.0.24+3,143%1.47−2.4%−16.3%+12.9%−24.4%+105%−20.5%−25.7%−26.0%−65.1%−25.6%−2.3%——25.3%+50.8%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.07+1,636%1.46+6.7%+0.8%−10.4%−17.0%+17.8%−15.2%+2.1%+38.9%−9.4%+73.7%−71.1%−9.5%—22.3%+46.8%
MCK Medical - DistributionMcKesson Corporation0.28+413%1.44+27.1%−28.4%+29.3%+11.8%+62.9%−40.4%+29.7%−1.2%−27.2%+4.9%+61.2%+46.9%+96.3%21.8%+35.6%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.23+690%1.41−27.4%−8.2%+0.4%——————————22.2%+38.8%
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Common questions

What was MUFG's worst drawdown?

MUFG's deepest decline since it began trading in 1989 was 88.3%, from October 1993 to April 2003. It took about 22 years from the low to climb back to its old high.

What were MUFG's best and worst years?

Over 29 full calendar years, MUFG's best year was 2003, when it returned 47.6%. Its worst was 2001, with a return of -33.1%.

Is there a better investment than MUFG?

Few investments have done better on both counts: only two of the 3,633 stocks and funds worth at least $500 million earned more than MUFG with less volatility over the past 5 years, among them MCK and CAH.

Is MUFG more volatile than the S&P 500?

Yes. MUFG's volatility over the past 5 years was 29.4%, 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, MUFG's return lands within 29.4% 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 MUFG's Sharpe ratio?

MUFG's Sharpe ratio over the past 5 years was 1.13, against 0.79 for the S&P 500, so MUFG earned more 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 MUFG with the S&P 500?

Over the past 5 years, MUFG's monthly returns had a correlation of 0.28 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 MUFG instead: the lower it is, the more that option would diversify a MUFG holding.

What are the best alternatives to MUFG?

None of the 21 popular alternatives we compared outperformed MUFG in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about MUFG's strength than about its alternatives.

Did MUFG outperform the S&P 500?

MUFG finished ahead of the S&P 500 (SPY) in 12 of 29 full calendar years. In 2025, it returned +40.0%, against +17.7% for the index.

How did MUFG do in stock market crashes?

MUFG fell less than the S&P 500 (SPY) in two of the ten major crashes it has traded through, and further in seven. The clearest case was the 2015 China and oil sell-off, when MUFG fell 45.1% and the S&P 500 fell 12.8%.

What diversifies MUFG?

These had a low correlation with MUFG over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.48), DXJ (correlation 0.39) and EMLP (correlation 0.33); among large stocks, CAH (correlation 0.09), CLS (correlation 0.24) and FIX (correlation 0.07). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to MUFG