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Relative Intelligence · Entertainment

How Netflix (NFLX) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on NFLX alone. It places NFLX (Netflix, Inc.) against 17 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where NFLX stands in the market, and of the alternatives worth a closer look.

Period covered: NFLX's full trading record, from May 2002 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. 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 NFLX →Chart NFLX vs. 17 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in NFLX over the past 24 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of NFLX over the same span and NFLX'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 2002 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 3 of the 1,370 stocks and funds worth at least $500 million that traded the whole period ended ahead of NFLX. The other 5 lines are popular alternatives, shown for context.

$10,000$100,000$1M$10M2002200620102014201820222026$10,000$100,000$1M$10M20022008201420202026
  • NVDA$35M+351,384% total · +40.5% a year
  • MNST$19M+192,926% total · +37.1% a year
  • AAPL$15M+153,475% total · +35.8% a year
  • NFLX$10M+100,319% total · +33.4% a year
  • AMZN$3M+31,179% total · +27.0% a year
  • SPY (S&P 500)$144,215+1,342% total · +11.8% a year
  • TTWO$107,351+974% total · +10.4% a year
  • DIS$89,729+797% total · +9.6% a year
  • CMCSA$45,212+352% total · +6.5% a year
  • SNY$34,735+247% total · +5.3% 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. 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. 2,250 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of NFLX; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$2,000$5,000$10,000$20,000202120222023202420252026$2,000$5,000$10,000$20,000202120222023202420252026
  • GOOG$25,811+158% total · +20.9% a year
  • AAPL$24,129+141% total · +19.3% a year
  • SPOT$21,629+116% total · +16.7% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • AMZN$15,169+51.7% total · +8.7% a year
  • TTWO$13,468+34.7% total · +6.1% a year
  • NFLX$11,401+14.0% total · +2.7% a year
  • MGNI$9,022−9.8% total · −2.0% a year
  • HUYA$7,147−28.5% total · −6.5% a year
  • ROKU$4,860−51.4% total · −13.4% a year
Change the dates or add tickers to this chart in EasyCompare

NFLX 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
$286B
Industry
Entertainment
Price history from
May 2002

Returns

Past 1 year
−44.5%total return
Past 3 years
+71.3%+19.7% a year
Past 5 years
+9.9%+1.9% a year
Past 10 years
+457%+18.7% a year
Best calendar year
+397%2003
Worst calendar year
−60.6%2011
Losing years
5 of 23full calendar years

Risk

Volatility
43.8%typical yearly swing, 5 years
Sharpe ratio
0.27return per unit of risk, 5 years
Worst decline ever
−82.0%Jul 2011 to Sep 2012
From its all-time high
−48.7%below the peak

NFLX against the whole market

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

How does NFLX rank among all stocks?

This section ranks NFLX 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 NFLX 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.

MeasureNFLXRankStanding
1-year return−44.5%3,050 of 3,287bottom 8%
3-year return+71.3%1,230 of 3,017top 41%
5-year return+9.9%1,589 of 2,893bottom 46%
10-year return+457%342 of 2,202top 16%
Volatility, 5 years43.8%1,648 of 2,893bottom 44%
Sharpe ratio, 5 years0.271,645 of 2,893bottom 44%
Worst decline, past 10 years−75.9%1,492 of 2,187bottom 33%

What has beaten NFLX 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). NFLX sits where the dashed lines cross. Anything in the green box above and to the left earned more than NFLX 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 NFLX; faint dots are 92 more of the 1,691 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

0.0%10.0%20.0%30.0%40.0%50.0%−10.0%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 NFLXHWM: +47.3% a year, volatility 32.5%MSFT: +12.5% a year, volatility 28.2%TSM: +31.5% a year, volatility 38.5%VOO: +12.8% a year, volatility 16.9%XOM: +27.1% a year, volatility 26.5%JPM: +17.3% a year, volatility 24.3%ABBV: +26.1% a year, volatility 23.4%HSBC: +33.1% a year, volatility 25.9%JNJ: +12.7% a year, volatility 17.9%V: +12.8% a year, volatility 22.9%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%CSW: +17.1% a year, volatility 34.4%KO: +14.7% a year, volatility 16.8%CAT: +31.1% a year, volatility 31.9%VXUS: +8.2% a year, volatility 16.4%QQQ: +14.5% a year, volatility 23.0%MUFG: +33.2% a year, volatility 29.4%MA: +12.4% a year, volatility 23.8%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%SHEL: +21.0% a year, volatility 24.8%MCK: +38.7% a year, volatility 25.0%NVS: +17.1% a year, volatility 20.7%APH: +33.8% a year, volatility 32.2%VTV: +12.1% a year, volatility 13.7%WELL: +26.0% a year, volatility 23.8%RTX: +18.6% a year, volatility 24.3%BBVA: +38.7% a year, volatility 33.3%GILD: +22.8% a year, volatility 24.9%GS: +19.6% a year, volatility 28.6%VEA: +9.3% a year, volatility 16.9%MS: +16.0% a year, volatility 28.8%TD: +15.8% a year, volatility 20.0%IBKR: +35.4% a year, volatility 35.4%MFG: +33.6% a year, volatility 30.6%SCCO: +32.0% a year, volatility 40.7%ODC: +35.9% a year, volatility 36.9%GLD: +17.7% a year, volatility 18.9%IBM: +16.6% a year, volatility 30.5%PSX: +33.2% a year, volatility 32.9%VGT: +18.4% a year, volatility 26.0%UBS: +25.4% a year, volatility 30.4%WFC: +13.1% a year, volatility 29.5%SAP: +11.5% a year, volatility 30.0%SMFG: +33.7% a year, volatility 29.4%PH: +27.4% a year, volatility 28.8%ADI: +19.5% a year, volatility 34.1%C: +15.1% a year, volatility 29.4%BTI: +18.7% a year, volatility 22.0%AXP: +13.5% a year, volatility 29.3%CB: +15.7% a year, volatility 20.4%PWR: +39.3% a year, volatility 37.2%TXN: +9.9% a year, volatility 33.7%VRTX: +22.6% a year, volatility 29.1%MO: +17.8% a year, volatility 21.4%ETN: +20.4% a year, volatility 32.1%BNY: +22.7% a year, volatility 24.4%WMB: +24.6% a year, volatility 24.0%CM: +19.2% a year, volatility 21.6%DE: +14.4% a year, volatility 29.9%ITUB: +26.3% a year, volatility 33.8%TRV: +22.4% a year, volatility 22.3%TT: +22.7% a year, volatility 27.7%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%AEM: +29.5% a year, volatility 38.4%COR: +24.2% a year, volatility 22.8%BMO: +13.6% a year, volatility 21.4%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%BNS: +12.9% a year, volatility 19.9%NEM: +18.6% a year, volatility 39.1%BLK: +7.1% a year, volatility 27.1%HLT: +21.0% a year, volatility 26.8%MNST: +17.2% a year, volatility 24.9%SMH: +33.4% a year, volatility 36.9%KMI: +18.7% a year, volatility 22.5%VT: +10.3% a year, volatility 16.2%CTAS: +16.5% a year, volatility 23.1%IEMG: +6.8% a year, volatility 19.4%JCI: +17.4% a year, volatility 29.1%LYG: +20.3% a year, volatility 32.1%HCA: +14.1% a year, volatility 30.1%ENB: +9.1% a year, volatility 18.9%CMI: +19.9% a year, volatility 29.0%WAB: +25.6% a year, volatility 26.2%ROST: +18.1% a year, volatility 29.5%MSI: +14.8% a year, volatility 23.6%WPM: +27.5% a year, volatility 36.9%LNG: +23.4% a year, volatility 30.2%EMR: +12.7% a year, volatility 27.7%NFLX: +1.9% a year, volatility 43.8%SPY (S&P 500): +12.7% a year, volatility 17.1%AAPL: +18.5% a year, volatility 28.0%GOOG: +19.0% a year, volatility 32.0%AMZN: +9.0% a year, volatility 36.6%SPOT: +15.9% a year, volatility 47.8%TTWO: +3.6% a year, volatility 32.9%T: +9.8% a year, volatility 25.2%EBAY: +11.7% a year, volatility 32.9%TKO: +26.3% a year, volatility 32.7%LYV: +11.8% a year, volatility 34.5%META: +15.5% a year, volatility 45.4%VZ: +2.7% a year, volatility 22.9%LLY: +40.7% a year, volatility 32.8%WMT: +20.8% a year, volatility 22.6%COST: +17.4% a year, volatility 22.9%PGR: +21.3% a year, volatility 25.6%RY: +17.3% a year, volatility 18.2%VTI: +11.5% a year, volatility 17.5%UMC: +19.9% a year, volatility 43.2%VTIP: +2.7% a year, volatility 2.9%CAH: +42.1% a year, volatility 24.7%INSW: +56.5% a year, volatility 40.5%NFLXSPY (S&P 500)AAPLGOOGAMZNSPOTTTWOTEBAYTKOMETAVZLLYWMTCOSTPGRRYVTIUMCVTIPCAHINSW0.0%10.0%20.0%30.0%40.0%50.0%−10.0%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 NFLXHWM: +47.3% a year, volatility 32.5%MSFT: +12.5% a year, volatility 28.2%TSM: +31.5% a year, volatility 38.5%VOO: +12.8% a year, volatility 16.9%XOM: +27.1% a year, volatility 26.5%JPM: +17.3% a year, volatility 24.3%ABBV: +26.1% a year, volatility 23.4%HSBC: +33.1% a year, volatility 25.9%JNJ: +12.7% a year, volatility 17.9%V: +12.8% a year, volatility 22.9%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%CSW: +17.1% a year, volatility 34.4%KO: +14.7% a year, volatility 16.8%CAT: +31.1% a year, volatility 31.9%VXUS: +8.2% a year, volatility 16.4%QQQ: +14.5% a year, volatility 23.0%MUFG: +33.2% a year, volatility 29.4%MA: +12.4% a year, volatility 23.8%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%SHEL: +21.0% a year, volatility 24.8%MCK: +38.7% a year, volatility 25.0%NVS: +17.1% a year, volatility 20.7%APH: +33.8% a year, volatility 32.2%VTV: +12.1% a year, volatility 13.7%WELL: +26.0% a year, volatility 23.8%RTX: +18.6% a year, volatility 24.3%BBVA: +38.7% a year, volatility 33.3%GILD: +22.8% a year, volatility 24.9%GS: +19.6% a year, volatility 28.6%VEA: +9.3% a year, volatility 16.9%MS: +16.0% a year, volatility 28.8%TD: +15.8% a year, volatility 20.0%IBKR: +35.4% a year, volatility 35.4%MFG: +33.6% a year, volatility 30.6%SCCO: +32.0% a year, volatility 40.7%ODC: +35.9% a year, volatility 36.9%GLD: +17.7% a year, volatility 18.9%IBM: +16.6% a year, volatility 30.5%PSX: +33.2% a year, volatility 32.9%VGT: +18.4% a year, volatility 26.0%UBS: +25.4% a year, volatility 30.4%WFC: +13.1% a year, volatility 29.5%SAP: +11.5% a year, volatility 30.0%SMFG: +33.7% a year, volatility 29.4%PH: +27.4% a year, volatility 28.8%ADI: +19.5% a year, volatility 34.1%C: +15.1% a year, volatility 29.4%BTI: +18.7% a year, volatility 22.0%AXP: +13.5% a year, volatility 29.3%CB: +15.7% a year, volatility 20.4%PWR: +39.3% a year, volatility 37.2%TXN: +9.9% a year, volatility 33.7%VRTX: +22.6% a year, volatility 29.1%MO: +17.8% a year, volatility 21.4%ETN: +20.4% a year, volatility 32.1%BNY: +22.7% a year, volatility 24.4%WMB: +24.6% a year, volatility 24.0%CM: +19.2% a year, volatility 21.6%DE: +14.4% a year, volatility 29.9%ITUB: +26.3% a year, volatility 33.8%TRV: +22.4% a year, volatility 22.3%TT: +22.7% a year, volatility 27.7%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%AEM: +29.5% a year, volatility 38.4%COR: +24.2% a year, volatility 22.8%BMO: +13.6% a year, volatility 21.4%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%BNS: +12.9% a year, volatility 19.9%NEM: +18.6% a year, volatility 39.1%BLK: +7.1% a year, volatility 27.1%HLT: +21.0% a year, volatility 26.8%MNST: +17.2% a year, volatility 24.9%SMH: +33.4% a year, volatility 36.9%KMI: +18.7% a year, volatility 22.5%VT: +10.3% a year, volatility 16.2%CTAS: +16.5% a year, volatility 23.1%IEMG: +6.8% a year, volatility 19.4%JCI: +17.4% a year, volatility 29.1%LYG: +20.3% a year, volatility 32.1%HCA: +14.1% a year, volatility 30.1%ENB: +9.1% a year, volatility 18.9%CMI: +19.9% a year, volatility 29.0%WAB: +25.6% a year, volatility 26.2%ROST: +18.1% a year, volatility 29.5%MSI: +14.8% a year, volatility 23.6%WPM: +27.5% a year, volatility 36.9%LNG: +23.4% a year, volatility 30.2%EMR: +12.7% a year, volatility 27.7%NFLX: +1.9% a year, volatility 43.8%SPY (S&P 500): +12.7% a year, volatility 17.1%AAPL: +18.5% a year, volatility 28.0%GOOG: +19.0% a year, volatility 32.0%AMZN: +9.0% a year, volatility 36.6%SPOT: +15.9% a year, volatility 47.8%TTWO: +3.6% a year, volatility 32.9%T: +9.8% a year, volatility 25.2%EBAY: +11.7% a year, volatility 32.9%TKO: +26.3% a year, volatility 32.7%LYV: +11.8% a year, volatility 34.5%META: +15.5% a year, volatility 45.4%VZ: +2.7% a year, volatility 22.9%LLY: +40.7% a year, volatility 32.8%WMT: +20.8% a year, volatility 22.6%COST: +17.4% a year, volatility 22.9%PGR: +21.3% a year, volatility 25.6%RY: +17.3% a year, volatility 18.2%VTI: +11.5% a year, volatility 17.5%UMC: +19.9% a year, volatility 43.2%VTIP: +2.7% a year, volatility 2.9%CAH: +42.1% a year, volatility 24.7%INSW: +56.5% a year, volatility 40.5%NFLXSPY (S&P 500)AAPLAMZNSPOTTTWOTKOVZLLYWMTCOSTRYVTIUMCVTIPCAHINSW
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than NFLX?

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

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

Screen the whole market against NFLX 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 NFLX?lower diversifies moreExpenseper year
NFLXNetflix, Inc. · this page
+1.9%43.8%0.27−75.9%+457%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 5 shownThe investments people most often weigh against NFLX. 5 of 16 passed at least one test.
AAPLApple Inc. · Computer Hardware
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+18.5%28.0%0.75−38.5%+1,168%0.39—
GOOGAlphabet Inc. · Internet Services
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+19.0%32.0%0.71−44.6%+752%0.27—
AMZNAmazon.com, Inc. · E-Commerce
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+9.0%36.6%0.42−56.1%+548%0.48—
SPOTSpotify Technology S.A. · Entertainment
Higher return, similar volatilityHigher return in most periods+15.9%47.8%0.55−80.5%—0.70—
TTWOTake-Two Interactive Software, Inc. · Entertainment
Higher return, lower volatility+3.6%32.9%0.27−56.1%+360%0.55—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Entertainment and the categories next to it (Internet Services, Media, Telecommunications, E-Commerce), plus NFLX's specific themes. 34 of 64 passed at least one test.
TAT&T Inc. · Integrated Telecommunications
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+9.8%25.2%0.50−39.4%+60.7%0.21—
EBAYeBay Inc. · E-Commerce
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+11.7%32.9%0.50−53.6%+374%0.28—
TKOTKO Group Holdings, Inc. · Entertainment
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+26.3%32.7%0.88−69.1%+941%0.39—
LYVLive Nation Entertainment, Inc. · Entertainment
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+11.8%34.5%0.50−61.2%+538%0.47—
METAMeta Platforms, Inc. · Internet Services
Higher return, similar volatilityHigher return in most periods+15.5%45.4%0.55−76.7%+439%0.18—
VZVerizon Communications Inc. · Integrated Telecommunications
Similar return, lower volatility+2.7%22.9%0.23−41.2%+55.8%0.28—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 2,165 of 3,553 passed at least one test.
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%0.18—
WMTWalmart Inc. · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+20.8%22.6%0.96−25.7%+508%0.36—
COSTCostco Wholesale Corporation · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+17.4%22.9%0.82−31.4%+685%0.51—
PGRThe Progressive Corporation · Property & Casualty Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+21.3%25.6%0.89−30.3%+816%0.21—
RYRoyal Bank of Canada · Banks
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.3%18.2%0.97−40.0%+352%0.20—
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+11.5%17.5%0.71−35.0%+302%0.560.03%
UMCUnited Microelectronics Corporation · Semiconductors
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+19.9%43.2%0.63−54.3%+1,610%0.04—
VTIPVanguard Short-Term Inflation-Protected Securities ETF · Treasury Bonds
Similar return, lower volatilityHigher Sharpe, smaller worst decline+2.7%2.9%0.94−6.3%+32.7%0.330.03%
What these numbers mean for NFLX
Annual return
NFLX returned 1.9% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $11,000. 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
NFLX's volatility over the past 5 years was 43.8%, 2.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, NFLX's return lands within 43.8% 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
NFLX's Sharpe ratio over the past 5 years was 0.27, against 0.79 for the S&P 500, so NFLX 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
NFLX's worst fall from a peak to a low over the past 10 years was 75.9%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 75.9% fall takes a 316% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, NFLX'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 NFLX instead: the lower it is, the more that option would diversify a NFLX holding. Guide: Correlation and diversification →
Show all 1,691 stocks and funds worth at least $500 million that earned more than NFLX 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 NFLXExpense
1
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.18—
2
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.36—
3
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.51—
4
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%0.21—
5
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.20—
6
HWMHowmet Aerospace Inc. · Aerospace & Defense
Whole market+47.3%32.5%1.36−68.9%+1,028%0.37—
7
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.21—
8
MSFTMicrosoft Corporation · Software
Whole market+12.5%28.2%0.56−37.1%+946%0.45—
9
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Whole market+31.5%38.5%0.91−56.6%+1,505%0.28—
10
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.5%17.5%0.71−35.0%+302%0.560.03%
11
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.550.03%
12
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.1%26.5%1.04−61.0%+214%-0.03—
13
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+537%0.48—
14
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%-0.07—
15
HSBCHSBC Holdings plc · Banks
Whole market+33.1%25.9%1.24−62.3%+319%0.02—
16
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%-0.08—
17
VVisa Inc. · Payment Processing
Whole market+12.8%22.9%0.64−36.4%+429%0.38—
18
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.250.48%
19
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.180.40%
20
CSWCSW Industrials, Inc. · Industrial Products
Whole market+17.1%34.4%0.63−46.2%+867%0.42—
21
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.01—
22
CATCaterpillar Inc. · Industrial Machinery
Whole market+31.1%31.9%1.01−43.4%+936%0.17—
23
VXUSVanguard Total International Stock ETF · International Equity
Whole market+8.2%16.4%0.57−36.0%+140%0.390.05%
24
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.5%23.0%0.71−35.1%+553%0.550.18%
25
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.2%29.4%1.13−54.9%+483%0.07—
26
MAMastercard Incorporated · Payment Processing
Whole market+12.4%23.8%0.61−41.0%+541%0.26—
27
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.00—
28
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.28—
29
SHELShell plc · Integrated Oil & Gas
Whole market+21.0%24.8%0.90−67.2%+233%-0.05—
30
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.28—
31
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.16—
32
INSWInternational Seaways, Inc. · Oil & Gas
Whole market+56.5%40.5%1.31−57.4%—-0.05—
33
APHAmphenol Corporation · Electronic Components
Whole market+33.8%32.2%1.07−37.5%+965%0.38—
34
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Whole market+12.1%13.7%0.90−36.8%+235%0.380.03%
35
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.15—
36
RTXRTX Corporation · Aerospace & Defense
Whole market+18.6%24.3%0.83−52.0%+317%0.08—
37
BBVABanco Bilbao Vizcaya Argentaria, S.A. · Banks
Whole market+38.7%33.3%1.16−69.6%+542%0.13—
38
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.14—
39
GSThe Goldman Sachs Group, Inc. · Capital Markets
Whole market+19.6%28.6%0.77−48.8%+521%0.38—
40
VEAVanguard FTSE Developed Markets ETF · Developed International Equity
Whole market+9.3%16.9%0.61−35.8%+153%0.430.03%
41
MSMorgan Stanley · Capital Markets
Whole market+16.0%28.8%0.66−51.3%+627%0.27—
42
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.13—
43
IBKRInteractive Brokers Group, Inc. · Investment Banking & Brokerage
Whole market+35.4%35.4%1.04−55.1%+935%0.42—
44
MFGMizuho Financial Group, Inc. · Banks
Whole market+33.6%30.6%1.10−45.7%+345%0.05—
45
SCCOSouthern Copper Corporation · Metals & Mining
Whole market+32.0%40.7%0.89−55.3%+1,017%0.14—
46
ODCOil-Dri Corporation of America · Chemicals - Specialty
Whole market+35.9%36.9%1.02−48.9%+460%0.11—
47
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.190.40%
48
IBMInternational Business Machines Corporation · IT Services
Whole market+16.6%30.5%0.66−41.1%+151%0.11—
49
PSXPhillips 66 · Oil & Gas
Whole market+33.2%32.9%1.04−64.2%+430%0.13—
50
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.500.09%
51
UBSUBS Group AG · Banks
Whole market+25.4%30.4%0.90−59.8%+374%0.26—
52
WFCWells Fargo & Company · Banks
Whole market+13.1%29.5%0.57−64.5%+141%0.34—
53
SAPSAP SE · Enterprise Software
Whole market+11.5%30.0%0.52−52.5%+205%0.59—
54
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+33.7%29.4%1.14−47.6%+474%0.07—
55
PHParker-Hannifin Corporation · Industrial Machinery
Whole market+27.4%28.8%0.99−54.7%+789%0.37—
56
ADIAnalog Devices, Inc. · Semiconductors
Whole market+19.5%34.1%0.69−33.6%+652%0.29—
57
CCitigroup Inc. · Banks
Whole market+15.1%29.4%0.63−56.5%+234%0.28—
58
BTIBritish American Tobacco p.l.c. · Tobacco
Whole market+18.7%22.0%0.90−56.1%+98.2%-0.12—
59
AXPAmerican Express Company · Consumer Finance
Whole market+13.5%29.3%0.58−49.6%+446%0.34—
60
CBChubb Limited · Property & Casualty Insurance
Whole market+15.7%20.4%0.82−42.6%+248%0.18—
61
PWRQuanta Services, Inc. · Engineering & Construction
Whole market+39.3%37.2%1.08−45.5%+2,045%0.31—
62
TXNTexas Instruments Incorporated · Semiconductors
Whole market+9.9%33.7%0.45−33.4%+424%0.20—
63
VRTXVertex Pharmaceuticals Incorporated · Biotechnology
Whole market+22.6%29.1%0.85−41.6%+521%0.02—
64
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%0.02—
65
ETNEaton Corporation plc · Electrical Equipment
Whole market+20.4%32.1%0.74−44.5%+657%0.40—
66
BNYBank of New York Mellon Corp · Banks
Whole market+22.7%24.4%0.97−50.5%+341%0.41—
67
WMBThe Williams Companies, Inc. · Oil & Gas Midstream
Whole market+24.6%24.0%1.04−68.1%+288%0.22—
68
CMCanadian Imperial Bank of Commerce · Banks
Whole market+19.2%21.6%0.93−47.3%+395%0.29—
69
DEDeere & Company · Industrial Machinery
Whole market+14.4%29.9%0.60−37.9%+755%0.23—
70
ITUBItaú Unibanco Holding S.A. · Banks
Whole market+26.3%33.8%0.86−62.1%+190%0.16—
71
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.20—
72
TTTrane Technologies plc · Building Products
Whole market+22.7%27.7%0.88−40.5%+955%0.41—
73
MARMarriott International, Inc. · Hotels & Resorts
Whole market+22.0%28.6%0.84−61.3%+544%0.37—
74
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.0%25.6%0.94−61.4%+278%0.15—
75
AEMAgnico Eagle Mines Limited · Gold Mining
Whole market+29.5%38.4%0.87−54.2%+352%0.26—
76
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.30—
77
BMOBank of Montreal · Banks
Whole market+13.6%21.4%0.71−51.0%+295%0.21—
78
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.18—
79
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.33—
80
BNSThe Bank of Nova Scotia · Banks
Whole market+12.9%19.9%0.71−46.9%+187%0.30—
81
NEMNewmont Corporation · Gold Mining
Whole market+18.6%39.1%0.63−62.4%+304%0.07—
82
BLKBlackRock, Inc. · Asset Management
Whole market+7.1%27.1%0.39−43.9%+313%0.52—
83
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+21.0%26.8%0.85−50.8%+694%0.37—
84
MNSTMonster Beverage Corporation · Food & Beverages
Whole market+17.2%24.9%0.77−30.4%+285%0.06—
85
SMHVanEck Semiconductor ETF · Semiconductors
Whole market+33.4%36.9%0.97−45.3%+1,665%0.360.35%
86
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Whole market+18.7%22.5%0.88−55.1%+163%0.26—
87
VTVanguard Total World Stock ETF · Global Equity
Whole market+10.3%16.2%0.69−34.2%+223%0.520.06%
88
CTASCintas Corporation · Business Services
Whole market+16.5%23.1%0.78−48.4%+808%0.46—
89
IEMGiShares Core MSCI Emerging Markets ETF · Emerging Markets Equity
Whole market+6.8%19.4%0.44−38.7%+122%0.220.09%
90
JCIJohnson Controls International plc · Building Products
Whole market+17.4%29.1%0.70−46.4%+426%0.41—
91
LYGLloyds Banking Group plc · Banks
Whole market+20.3%32.1%0.74−66.5%+213%0.10—
92
HCAHCA Healthcare, Inc. · Health Care Facilities
Whole market+14.1%30.1%0.59−54.7%+513%0.44—
93
ENBEnbridge Inc. · Oil & Gas Midstream
Whole market+9.1%18.9%0.56−44.1%+103%0.31—
94
CMICummins Inc. · Industrial Machinery
Whole market+19.9%29.0%0.77−44.0%+444%0.21—
95
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Whole market+25.6%26.2%1.00−64.1%+264%0.44—
96
ROSTRoss Stores, Inc. · Specialty Retail
Whole market+18.1%29.5%0.71−51.4%+312%0.30—
97
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+14.8%23.6%0.71−32.8%+625%0.55—
98
WPMWheaton Precious Metals Corp. · Metals & Mining
Whole market+27.5%36.9%0.85−46.7%+510%0.25—
99
LNGCheniere Energy, Inc. · Oil & Gas
Whole market+23.4%30.2%0.85−57.5%+616%0.22—
100
EMREmerson Electric Co. · Industrial Machinery
Whole market+12.7%27.7%0.57−50.8%+309%0.26—

NFLX against its popular alternatives

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

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

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

0.0%20.0%40.0%60.0%80.0%100%120%140%160%−60.0%−50.0%−40.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityNFLX: 1.9% a year, volatility 43.8%SPY (S&P 500): 12.7% a year, volatility 17.1%AAPL: 18.4% a year, volatility 28.0%AMZN: 9.0% a year, volatility 36.6%GOOG: 19.0% a year, volatility 32.0%ROKU: −14.2% a year, volatility 66.1%TTWO: 3.6% a year, volatility 32.9%MGNI: −4.7% a year, volatility 74.7%HUYA: −9.1% a year, volatility 75.1%TTD: −30.8% a year, volatility 67.7%FUBO: −52.9% a year, volatility 145%BILI: −29.9% a year, volatility 77.4%IQ: −37.6% a year, volatility 79.5%SPOT: 15.9% a year, volatility 47.8%DIS: −7.5% a year, volatility 29.5%SNY: 0.6% a year, volatility 25.3%CMCSA: −13.5% a year, volatility 27.7%CHTR: −31.6% a year, volatility 41.3%NFLXSPY (S&P 500)AAPLAMZNROKUTTWOMGNIHUYATTDFUBOBILIIQSPOTDISSNYCMCSACHTR0.0%50.0%100%150%−60.0%−40.0%−20.0%0.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityNFLX: 1.9% a year, volatility 43.8%SPY (S&P 500): 12.7% a year, volatility 17.1%AAPL: 18.4% a year, volatility 28.0%AMZN: 9.0% a year, volatility 36.6%GOOG: 19.0% a year, volatility 32.0%ROKU: −14.2% a year, volatility 66.1%TTWO: 3.6% a year, volatility 32.9%MGNI: −4.7% a year, volatility 74.7%HUYA: −9.1% a year, volatility 75.1%TTD: −30.8% a year, volatility 67.7%FUBO: −52.9% a year, volatility 145%BILI: −29.9% a year, volatility 77.4%IQ: −37.6% a year, volatility 79.5%SPOT: 15.9% a year, volatility 47.8%DIS: −7.5% a year, volatility 29.5%SNY: 0.6% a year, volatility 25.3%CMCSA: −13.5% a year, volatility 27.7%CHTR: −31.6% a year, volatility 41.3%NFLXSPY (S&P 500)AAPLAMZNGOOGROKUTTWOMGNIHUYATTDFUBOIQDISCMCSACHTR
All figures
InvestmentAnnual returnVolatility
GOOG Alphabet Inc.+19.0%32.0%
AAPL Apple Inc.+18.4%28.0%
SPOT Spotify Technology S.A.+15.9%47.8%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
AMZN Amazon.com, Inc.+9.0%36.6%
TTWO Take-Two Interactive Software, Inc.+3.6%32.9%
NFLX This pageNetflix, Inc.+1.9%43.8%
SNY Sanofi+0.6%25.3%
MGNI Magnite, Inc.−4.7%74.7%
DIS The Walt Disney Company−7.5%29.5%
HUYA HUYA Inc.−9.1%75.1%
CMCSA Comcast Corporation−13.5%27.7%
ROKU Roku, Inc.−14.2%66.1%
BILI Bilibili Inc.−29.9%77.4%
TTD The Trade Desk, Inc.−30.8%67.7%
CHTR Charter Communications, Inc.−31.6%41.3%
IQ iQIYI, Inc.−37.6%79.5%
FUBO fuboTV Inc.−52.9%145%
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Has NFLX consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than NFLX 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
NFLX Netflix, Inc. (this page)—−6.4%+1.6%−27.6%−24.5%−44.5%+71.3%+9.9%+457%43.8%0.27−75.9%—$286B—
AAPL QualifiedApple Inc.5/5 short3/3 longAll-weather+0.2%+4.0%+24.6%+25.6%+29.9%+99.0%+133%+1,168%28.0%0.75−38.5%—$5.0T—
AMZN QualifiedAmazon.com, Inc.5/5 short3/3 longAll-weather+1.6%+5.1%+5.8%+16.0%+21.3%+110%+53.8%+548%36.6%0.42−56.1%—$2.8T—
GOOG QualifiedAlphabet Inc.4/5 short3/3 longAll-weather−4.1%−4.2%+0.4%+6.9%+31.2%+148%+138%+752%32.0%0.71−44.6%—$4.1T—
SPOT QualifiedSpotify Technology S.A.5/5 short2/3 long+1.8%+6.9%−2.0%−8.5%−22.1%+251%+109%—47.8%0.55−80.5%—$108B—
ROKU EntertainmentRoku, Inc.5/5 short1/3 long+2.1%+9.3%+32.7%+44.9%+63.7%+163%−53.5%—66.1%0.10−91.9%—$21B—
TTWO Electronic Gaming & MultimediaTake-Two Interactive Software, Inc.4/5 short1/3 long−1.5%−13.5%−4.7%−17.8%−21.2%+47.0%+19.1%+360%32.9%0.27−56.1%—$39B—
MGNI Advertising AgenciesMagnite, Inc.4/5 short1/3 long−5.9%+25.5%+70.1%+48.3%+27.5%+238%−21.4%+194%74.7%0.29−90.6%—$3.4B—
HUYA EntertainmentHUYA Inc.4/5 short1/3 long+2.2%−3.4%−23.1%−19.6%−17.6%+104%−37.8%—75.1%0.24−96.4%—$525M—
DIS EntertainmentThe Walt Disney Company5/5 short0/3 long+7.1%+15.8%+5.8%+0.6%+1.2%+39.3%−32.5%+31.7%29.5%-0.12−60.7%—$193B—
SNY Drug Manufacturers - GeneralSanofi4/5 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—
CMCSA Telecommunications ServicesComcast Corporation4/5 short0/3 long−1.0%−4.5%−22.6%−14.9%−20.3%−41.4%−51.6%−9.9%27.7%-0.39−60.3%—$79B—
LION Media & EntertainmentLionsgate Studios Corp.4/5 short0/3 long+5.8%−11.2%−2.4%+30.6%+102%—————−55.4%—$3.6B—
TTD Advertising AgenciesThe Trade Desk, Inc.0/5 short0/3 long−8.9%−32.1%−47.4%−66.4%−75.9%−82.9%−84.1%+377%67.7%-0.20−91.5%—$6.0B—
CHTR Telecommunications ServicesCharter Communications, Inc.0/5 short0/3 long−10.8%−14.8%−55.0%−47.4%−56.3%−74.4%−85.0%−57.4%41.3%-0.71−87.5%—$15B—
FUBO BroadcastingfuboTV Inc.0/5 short0/3 long−20.2%−12.7%−38.1%−73.6%−81.2%−70.9%−97.7%−99.4%145%-0.06−99.9%—$922M—
BILI Internet Content & InformationBilibili Inc.0/5 short0/3 long−8.3%−24.4%−44.3%−47.2%−49.5%+11.3%−83.1%—77.4%-0.09−94.3%—$5.9B—
IQ EntertainmentiQIYI, Inc.0/5 short0/3 long−8.8%−25.1%−34.2%−54.6%−58.1%−80.0%−90.6%—79.5%-0.21−98.0%—$889M—
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How did NFLX do year by year?

This table shows each investment's total return in every full calendar year since 2003, along with where NFLX ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with NFLX 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 NFLX; gray means the two finished within a fraction of a point. The rank row places NFLX among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of NFLX20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003
NFLX This pageNetflix, Inc.—+5.2%+83.0%+65.1%−51.0%+11.4%+67.1%+20.9%+39.4%+55.1%+8.2%+134%−7.2%+298%+33.4%−60.6%+219%+84.3%+12.3%+2.9%−4.4%+119%−54.9%+397%
Rank among alternativesTop quarter in 10 of 2311 of 182 of 175 of 1713 of 174 of 1710 of 1714 of 173 of 134 of 116 of 111 of 107 of 91 of 96 of 99 of 91 of 84 of 81 of 85 of 87 of 82 of 87 of 71 of 7
SPY S&P 500State Street SPDR S&P 500 ETF10 of 23+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%
AAPL Apple Inc.13 of 23+9.0%+30.7%+49.0%−26.4%+34.6%+82.3%+89.0%−5.4%+48.5%+12.5%−3.0%+40.6%+8.0%+32.6%+25.5%+53.2%+147%−56.9%+133%+18.1%+123%+201%+49.1%
AMZN Amazon.com, Inc.9 of 23+5.2%+44.4%+80.9%−49.6%+2.4%+76.3%+23.0%+28.4%+56.0%+10.9%+118%−22.2%+59.0%+45.0%−3.9%+33.7%+163%−44.7%+135%−16.5%+6.8%−16.0%+178%
GOOG Alphabet Inc.9 of 21+65.4%+35.6%+58.8%−38.7%+65.2%+31.0%+29.1%−1.0%+35.6%+1.7%+44.5%−6.0%+58.5%+9.5%+8.8%−4.2%+101%−55.5%+50.2%+11.1%+115%——
SPOT Spotify Technology S.A.5 of 7+29.8%+138%+138%−66.3%−25.6%+110%+31.8%————————————————
ROKU Roku, Inc.4 of 8+45.9%−18.9%+125%−82.2%−31.3%+148%+337%−40.8%———————————————
TTWO Take-Two Interactive Software, Inc.10 of 23+39.1%+14.4%+54.6%−41.4%−14.5%+69.7%+18.9%−6.2%+123%+41.5%+24.3%+61.4%+57.8%−18.7%+10.4%+22.1%+32.9%−59.0%+3.9%+0.3%−23.7%+20.3%+23.1%
MGNI Magnite, Inc.4 of 11+1.9%+70.5%−11.8%−39.5%−43.0%+276%+119%+99.5%−74.8%−54.9%+1.9%————————————
HUYA HUYA Inc.2 of 7+61.0%+20.7%−7.3%−43.0%−65.2%+11.1%+16.1%————————————————
DIS The Walt Disney Company7 of 23+3.3%+24.4%+4.3%−43.9%−14.5%+25.3%+33.5%+3.6%+4.8%+0.7%+12.9%+24.9%+55.3%+34.8%+1.6%+17.6%+43.8%−28.7%−4.6%+44.3%−12.9%+20.2%+44.5%
SNY Sanofi5 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%
CMCSA Comcast Corporation8 of 23−22.6%−12.0%+28.8%−28.8%−2.3%+19.0%+33.9%−12.8%+17.3%+24.8%−1.2%+13.0%+41.3%+60.4%+10.3%+33.2%+1.4%−6.6%−35.3%+63.5%−22.2%+1.5%+38.9%
LION Lionsgate Studios Corp.1 of 1+20.1%——————————————————————
TTD The Trade Desk, Inc.5 of 9−67.7%+63.3%+60.5%−51.1%+14.4%+208%+124%+154%+65.0%——————————————
CHTR Charter Communications, Inc.5 of 15−39.1%−11.8%+14.6%−48.0%−1.5%+36.4%+70.2%−15.2%+16.7%+42.2%+9.9%+21.8%+79.4%+33.9%+46.2%————————
FUBO fuboTV Inc.4 of 9+100%−60.4%+82.8%−88.8%−44.6%+214%+31.9%−27.4%—−69.2%—————————————
BILI Bilibili Inc.4 of 7+35.8%+48.8%−48.6%−48.9%−45.9%+360%+27.6%————————————————
IQ iQIYI, Inc.2 of 7−4.5%−58.8%−7.9%+16.2%−73.9%−17.2%+42.0%————————————————
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Risk and diversification

How NFLX 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 NFLX's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents NFLX's five deepest drawdowns since it began trading in 2002, 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 NFLX fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringNFLX fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2011 euro debt crisis−82.0%+12.2%Jul 2011Sep 201214 monthsSep 201312 months
No named crash−76.7%+4.4%Jan 2004Mar 200514 monthsApr 20083.1 years
2022 bear market−75.9%−15.6%Nov 2021May 20226 monthsAug 20242.3 years
Dot-com bust−70.8%−21.0%Jul 2002Oct 20023 monthsMar 20035 months
2008 financial crisis−55.9%−38.1%Apr 2008Oct 20086 monthsMar 20095 months

How did NFLX do in stock market crashes?

This section measures how far NFLX, 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.

Note: NFLX began trading on May 23, 2002, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.

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

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
NFLX This pageNetflix, Inc.—−6.1%−71.9%−22.6%−38.7%−6.7%−36.8%−59.7%−6.5%−55.9%Not yet trading
SPY S&P 500State Street SPDR S&P 500 ETF7 of 9−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
AAPL Apple Inc.7 of 9−2.9%−27.4%−30.7%−36.5%−4.8%−23.4%−12.5%−4.3%−60.9%−81.2%
AMZN Amazon.com, Inc.6 of 9−3.4%−39.6%−22.7%−33.2%−7.1%−30.6%−20.7%−2.9%−65.3%−91.8%
GOOG Alphabet Inc.6 of 9−3.9%−35.0%−30.8%−18.9%−9.9%−12.7%−21.1%−1.1%−65.3%—
SPOT Spotify Technology S.A.3 of 4−4.2%−65.7%−20.6%−42.1%——————
ROKU Roku, Inc.0 of 5−5.9%−76.8%−49.6%−64.5%−7.1%—————
TTWO Take-Two Interactive Software, Inc.7 of 9−4.9%−43.0%−16.1%−28.4%−14.9%−12.5%−23.4%0.0%−79.7%−70.8%
MGNI Magnite, Inc.3 of 6−13.8%−62.5%−62.6%−34.4%−11.2%−28.7%————
HUYA HUYA Inc.1 of 4−4.4%−72.0%−41.0%−41.4%——————
DIS The Walt Disney Company6 of 9−6.8%−41.8%−39.3%−14.9%−6.8%−25.5%−28.7%−1.8%−54.9%−67.6%
SNY Sanofi7 of 9−0.5%−33.5%−25.2%−9.0%−9.8%−30.2%−20.7%−2.8%−46.6%—
CMCSA Comcast Corporation7 of 9−1.6%−43.4%−27.5%−16.1%−7.1%−14.7%−21.7%−0.8%−53.1%−61.6%
TTD The Trade Desk, Inc.2 of 5−8.4%−51.7%−54.2%−33.0%−8.6%—————
CHTR Charter Communications, Inc.5 of 8−6.9%−52.7%−31.5%−17.8%−10.0%−18.0%−29.6%−1.3%——
FUBO fuboTV Inc.1 of 5−22.6%−85.0%−16.3%−66.1%−20.5%—————
BILI Bilibili Inc.2 of 4−8.0%−70.2%−28.2%−17.6%——————
IQ iQIYI, Inc.2 of 4−4.5%−59.5%−32.1%−46.2%——————
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How closely does NFLX 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 NFLX 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 NFLX's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
NFLX This pageNetflix, Inc.122%105%1.161.18
AAPL Apple Inc.137%94%1.461.15
TTWO Take-Two Interactive Software, Inc.91%75%1.210.78
GOOG Alphabet Inc.132%110%1.201.12
AMZN Amazon.com, Inc.134%139%0.961.31
TTD The Trade Desk, Inc.140%173%0.811.75
SNY Sanofi53%74%0.720.46
MGNI Magnite, Inc.148%208%0.712.31
DIS The Walt Disney Company90%162%0.561.32
CMCSA Comcast Corporation65%139%0.470.87
CHTR Charter Communications, Inc.41%141%0.290.88
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What diversifies NFLX?

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

ETFs

InvestmentCorrelation5Y returnSharpe2022201420112006200480/20 mix volatility80/20 mix annual return
NFLX Netflix, Inc. (this page)1.00+9.9%0.27−51.0%−7.2%−60.6%−4.4%−54.9%45.4%+2.7%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.18+119%1.48+3.8%————36.7%+7.5%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.25+225%1.34+6.0%+8.1%−16.1%——37.1%+9.3%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.36+101%1.04+10.4%+23.8%———37.5%+7.0%
HDV Dividend & IncomeiShares Core High Dividend ETF0.26+83.3%1.00+7.1%+12.6%———37.2%+6.5%
FTLS Broad MarketFirst Trust Long/Short Equity ETF0.48+62.9%0.99−5.6%————37.2%+6.1%
SMH TechnologyVanEck Semiconductor ETF0.36+323%0.97−33.5%+30.2%+6.8%−6.7%−19.3%39.4%+11.0%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.39+85.0%0.96−5.1%+3.4%———37.3%+6.7%
GLD CommoditiesSPDR Gold Shares0.19+126%0.96−0.8%−2.2%+9.6%+22.6%—37.1%+7.8%

Stocks

InvestmentCorrelation5Y returnSharpe2022201420112006200480/20 mix volatility80/20 mix annual return
NFLX Netflix, Inc. (this page)1.00+9.9%0.27−51.0%−7.2%−60.6%−4.4%−54.9%45.4%+2.7%
CAH Medical - DistributionCardinal Health, Inc.0.21+479%1.55+54.1%+23.0%+8.1%−5.8%−4.7%37.8%+11.4%
CLS Hardware, Equipment & PartsCelestica Inc.0.28+3,143%1.47+1.3%+12.9%−24.4%−26.0%−6.4%41.1%+22.8%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.32+1,636%1.46+17.0%−10.4%−17.0%+38.9%+40.0%40.1%+19.1%
MCK Medical - DistributionMcKesson Corporation0.28+413%1.44+51.8%+29.3%+11.8%−1.2%−1.4%38.0%+10.7%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.16+690%1.41+86.6%+0.4%———37.9%+13.4%
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Common questions

What was NFLX's worst drawdown?

NFLX's deepest decline since it began trading in 2002 was 82.0%, from July 2011 to September 2012. It took 12 months from the low to climb back to its old high.

What were NFLX's best and worst years?

Over 23 full calendar years, NFLX's best year was 2003, when it returned 397%. Its worst was 2011, with a return of -60.6%.

Is there a better investment than NFLX?

Among NFLX's popular alternatives, AAPL, GOOG and AMZN earned more than NFLX with less volatility over the past 5 years. AAPL returned 18.5% a year at 28.0% volatility, against 1.9% a year at 43.8%. Looking beyond its popular alternatives, T (integrated telecommunications) and EBAY (e-commerce) earned more than NFLX with less volatility over the past 5 years. T returned 9.8% a year at 25.2% volatility, against 1.9% a year at 43.8%.

Is NFLX more volatile than the S&P 500?

Yes. NFLX's volatility over the past 5 years was 43.8%, 2.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, NFLX's return lands within 43.8% 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 NFLX's Sharpe ratio?

NFLX's Sharpe ratio over the past 5 years was 0.27, against 0.79 for the S&P 500, so NFLX 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 NFLX with the S&P 500?

Over the past 5 years, NFLX'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 NFLX instead: the lower it is, the more that option would diversify a NFLX holding.

What are the best alternatives to NFLX?

Of the 17 popular alternatives we compared, four outperformed NFLX in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: AAPL, AMZN and GOOG.

Did NFLX outperform the S&P 500?

NFLX finished ahead of the S&P 500 (SPY) in 13 of 23 full calendar years. In 2025, it returned +5.2%, against +17.7% for the index.

How did NFLX do in stock market crashes?

NFLX fell less than the S&P 500 (SPY) in one of the nine major crashes it has traded through, and further in seven. The clearest case was the 2022 bear market, when NFLX fell 71.9% and the S&P 500 fell 24.5%.

What diversifies NFLX?

These had a low correlation with NFLX over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.18), DXJ (correlation 0.25) and EMLP (correlation 0.36); among large stocks, CAH (correlation 0.21), CLS (correlation 0.28) and FIX (correlation 0.32). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to NFLX

Other stocks and ETFs