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

> Source: EasyCompare research, https://easycompare.io/research/nflx
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

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.

## Key findings

- **Right now:** NFLX has gone against the market, falling 27.6% over the past 6 months while the S&P 500 rose 9.1%. NFLX is 48.7% below its high, bear-market territory, while the S&P 500 sits 1.3% below a record.
- **Stock or market?:** NFLX rose 1.6% over the past 3 months, in line with the entertainment ETF XLC (State Street Communication Services Select Sector SPDR ETF), which fell 0.2%. The S&P 500 rose 3.9%. Its entertainment peers did not move as one over the past 3 months: DIS (Walt Disney) rose 15.8%, while SNY (Sanofi) fell 5.9%.
- **Past 1 to 3 years:** Over the past year, NFLX fell 44.5% while the S&P 500 rose 15.8%. The same gap shows up over 3 years (71.3% against 89.3%).
- **Long term:** NFLX turned $10,000 into $55,700 over the past decade, against $42,100 in the S&P 500. Even so, over 5 years NFLX trailed the index: 9.9% against 81.7%.
- **In a crash:** Across six sell-offs, NFLX has typically fallen 2.1 times as far as the S&P 500. The 2022 bear market took 71.9% off NFLX, against 24.5% for the S&P 500. That was more than AAPL (Apple, 27.4%) but less than ROKU (76.8%).
- **Diversification:** Against the S&P 500, NFLX has a correlation of 0.55 over 5 years, more closely than 84% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Over 10 years, NFLX's beta versus the S&P 500 was 1.18: in the S&P 500's rising months it gained 1.2 times as much as the index, and in falling months it lost 1.1 times as much.
- **Better options:** Among NFLX's popular alternatives, AAPL (Apple), GOOG (Alphabet) and AMZN (Amazon.com) 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 (AT&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%.

## 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.

- $10,000 invested in NFLX at the end of September 2002 would have grown to $10,041,918 by September 2026, more than the $144,215 it would have become in SPY, an S&P 500 fund.
- Three of the eight other investments on the chart ended ahead of NFLX, and NVDA finished highest, at $35,148,434.

## 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.

- NFLX is still 48.7% below its all-time high.
- 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.
- Over 23 full calendar years, NFLX's best was 2003, when it returned 397%, and its worst was 2011, when it lost 60.6%. It lost money in five of those years.

- Type: Stock, Communication (Entertainment)
- Trading since: May 23, 2002
- Market value: $286B
- Volatility (5 years): 43.8%; Sharpe ratio: 0.27
- Worst decline ever: −82.0%, from July 13, 2011 to September 25, 2012; back at its high by September 10, 2013

| Period | NFLX total return |
| --- | --- |
| 1 month | −6.4% |
| 3 months | +1.6% |
| 6 months | −27.6% |
| year to date | −24.5% |
| 1 year | −44.5% |
| 3 years | +71.3% |
| 5 years | +9.9% |
| 10 years | +457% |

## 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.

- NFLX's 1-year return ranks in the bottom 7% of the 3,287 stocks worth at least $300 million with 1 year of history.
- NFLX's 10-year return ranks in the top 16% of the 2,202 stocks worth at least $300 million with 10 years of history.

| Measure | NFLX | Rank |
| --- | --- | --- |
| 1-year return | −44.5% | 3,050 of 3,287 (top 93%) |
| 3-year return | +71.3% | 1,230 of 3,017 (top 41%) |
| 5-year return | +9.9% | 1,589 of 2,893 (top 55%) |
| 10-year return | +457% | 342 of 2,202 (top 16%) |
| Volatility, 5 years | 43.8% | 1,648 of 2,893 (top 57%) |
| Sharpe ratio, 5 years | 0.27 | 1,645 of 2,893 (top 57%) |
| Worst decline, past 10 years | −75.9% | 1,492 of 2,187 (top 69%) |

### 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).

- 924 stocks and 767 ETFs worth at least $500 million sit in the green region: each earned more than NFLX over the past 5 years with smaller price swings. That is 47% of the 3,633 screened.
- Among those with at least half NFLX's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 44% less than NFLX's 43.8%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.27 for NFLX. INSW earned the most, 56.5% a year, while still swinging less than NFLX (40.5% against 43.8%).
- Among NFLX's popular alternatives, AAPL, GOOG and AMZN are in the region. AAPL earned 18.5% a year against 1.9% a year for NFLX, at 28.0% volatility, 36% less than NFLX's 43.8%.

### Is there a better investment than NFLX?

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.

- 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%.
- Across the whole market, 1,691 of the 3,633 stocks and funds worth at least $500 million earned more than NFLX with less volatility over the past 5 years, among them AAPL, GOOG and MSFT.

The 15 strongest of 1,691 investments that beat NFLX over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with NFLX | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NFLX: Netflix, Inc. (this page) |  | +1.9% | 43.8% | 0.27 | −75.9% | +457% |  |  |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | Pharmaceuticals | +40.7% | 32.8% | 1.21 | −34.5% | +1,807% | 0.18 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [WMT](https://easycompare.io/research/wmt): Walmart Inc. | Discount Retail | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.36 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [COST](https://easycompare.io/research/cost): Costco Wholesale Corporation | Discount Retail | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.51 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [PGR](https://easycompare.io/research/pgr): The Progressive Corporation | Property & Casualty Insurance | +21.3% | 25.6% | 0.89 | −30.3% | +816% | 0.21 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.20 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [HWM](https://easycompare.io/research/hwm): Howmet Aerospace Inc. | Aerospace & Defense | +47.3% | 32.5% | 1.36 | −68.9% | +1,028% | 0.37 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.21 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MSFT](https://easycompare.io/research/msft): Microsoft Corporation | Software | +12.5% | 28.2% | 0.56 | −37.1% | +946% | 0.45 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [TSM](https://easycompare.io/research/tsm): Taiwan Semiconductor Manufacturing Company Limited | Semiconductors | +31.5% | 38.5% | 0.91 | −56.6% | +1,505% | 0.28 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VTI](https://easycompare.io/research/vti): Vanguard Morningstar Total Stock Market ETF | US Total Market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.56 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VOO](https://easycompare.io/research/voo): Vanguard S&P 500 ETF | US Large-Cap Equity | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.55 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [XOM](https://easycompare.io/research/xom): Exxonmobil Holdings Corporation | Integrated Oil & Gas | +27.1% | 26.5% | 1.04 | −61.0% | +214% | -0.03 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [JPM](https://easycompare.io/research/jpm): JPMorgan Chase & Co. | Banks | +17.3% | 24.3% | 0.78 | −43.6% | +537% | 0.48 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | Pharmaceuticals | +26.1% | 23.4% | 1.11 | −45.1% | +603% | -0.07 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [HSBC](https://easycompare.io/research/hsbc): HSBC Holdings plc | Banks | +33.1% | 25.9% | 1.24 | −62.3% | +319% | 0.02 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## 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.

- Four of the 16 popular alternatives, led by GOOG, AAPL and AMZN, were both more rewarding and calmer than NFLX over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, NFLX returned 1.9% a year, less than the S&P 500's 12.7%, with higher volatility (43.8% against 17.1%).

### 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.

- Four of the 17 popular alternatives, led by AAPL, AMZN and GOOG, outperformed NFLX in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- AAPL, AMZN and GOOG outperformed NFLX in every long-term period and in all but one short-term period, the most consistent record in the group.
- AAPL, GOOG and AMZN earned more for the risk they took than NFLX (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of NFLX | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| NFLX: Netflix, Inc. (this page) | −44.5% | +71.3% | +9.9% | +457% |  |  | 0.27 |
| [AAPL](https://easycompare.io/research/aapl): Apple Inc. | +29.9% | +99.0% | +133% | +1,168% | 5/5 short-term, 3/3 long-term | all-weather | 0.75 |
| [AMZN](https://easycompare.io/research/amzn): Amazon.com, Inc. | +21.3% | +110% | +53.8% | +548% | 5/5 short-term, 3/3 long-term | all-weather | 0.42 |
| [GOOG](https://easycompare.io/research/goog): Alphabet Inc. | +31.2% | +148% | +138% | +752% | 4/5 short-term, 3/3 long-term | all-weather | 0.71 |
| [SPOT](https://easycompare.io/research/spot): Spotify Technology S.A. | −22.1% | +251% | +109% | — | 5/5 short-term, 2/3 long-term | consistent | 0.55 |
| ROKU: Roku, Inc. | +63.7% | +163% | −53.5% | — | 5/5 short-term, 1/3 long-term |  | 0.10 |
| [TTWO](https://easycompare.io/research/ttwo): Take-Two Interactive Software, Inc. | −21.2% | +47.0% | +19.1% | +360% | 4/5 short-term, 1/3 long-term |  | 0.27 |
| MGNI: Magnite, Inc. | +27.5% | +238% | −21.4% | +194% | 4/5 short-term, 1/3 long-term |  | 0.29 |
| HUYA: HUYA Inc. | −17.6% | +104% | −37.8% | — | 4/5 short-term, 1/3 long-term |  | 0.24 |
| [DIS](https://easycompare.io/research/dis): The Walt Disney Company | +1.2% | +39.3% | −32.5% | +31.7% | 5/5 short-term, 0/3 long-term |  | -0.12 |
| [SNY](https://easycompare.io/research/sny): Sanofi | −13.4% | −10.0% | +3.0% | +61.5% | 4/5 short-term, 0/3 long-term |  | 0.15 |
| [CMCSA](https://easycompare.io/research/cmcsa): Comcast Corporation | −20.3% | −41.4% | −51.6% | −9.9% | 4/5 short-term, 0/3 long-term |  | -0.39 |
| LION: Lionsgate Studios Corp. | +102% | — | — | — | 4/5 short-term, 0/3 long-term |  | — |
| TTD: The Trade Desk, Inc. | −75.9% | −82.9% | −84.1% | +377% | 0/5 short-term, 0/3 long-term |  | -0.20 |
| CHTR: Charter Communications, Inc. | −56.3% | −74.4% | −85.0% | −57.4% | 0/5 short-term, 0/3 long-term |  | -0.71 |
| FUBO: fuboTV Inc. | −81.2% | −70.9% | −97.7% | −99.4% | 0/5 short-term, 0/3 long-term |  | -0.06 |
| BILI: Bilibili Inc. | −49.5% | +11.3% | −83.1% | — | 0/5 short-term, 0/3 long-term |  | -0.09 |
| IQ: iQIYI, Inc. | −58.1% | −80.0% | −90.6% | — | 0/5 short-term, 0/3 long-term |  | -0.21 |

### 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.

- Ranked against its popular alternatives each year, NFLX finished in the top quarter in ten of 23 years and in the bottom quarter in four. In 2025, it ranked 11 of 18.
- NFLX finished ahead of the S&P 500 in 13 of its 23 full calendar years.
- Among its popular alternatives, SPOT came out ahead of NFLX most often, in five of the seven years both traded.

| Year | NFLX | SPY |
| --- | --- | --- |
| 2025 | +5.2% | +17.7% |
| 2024 | +83.0% | +24.9% |
| 2023 | +65.1% | +26.2% |
| 2022 | −51.0% | −18.2% |
| 2021 | +11.4% | +28.7% |
| 2020 | +67.1% | +18.3% |
| 2019 | +20.9% | +31.2% |
| 2018 | +39.4% | −4.6% |
| 2017 | +55.1% | +21.7% |
| 2016 | +8.2% | +12.0% |

## 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.

- In all five of NFLX's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: NFLX fell 82.0% from July 2011 to September 2012, while the S&P 500 rose 12.2%.
- The slowest recovery came after NFLX fell 76.7% from January 2004 to March 2005; it did not regain that peak until April 2008, three years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −82.0% | July 13, 2011 | September 25, 2012 | September 10, 2013 | +12.2% | 2011 euro debt crisis |
| −76.7% | January 22, 2004 | March 24, 2005 | April 16, 2008 | +4.4% |  |
| −75.9% | November 17, 2021 | May 11, 2022 | August 20, 2024 | −15.6% | 2022 bear market |
| −70.8% | July 5, 2002 | October 9, 2002 | March 17, 2003 | −21.0% | dot-com bust |
| −55.9% | April 17, 2008 | October 27, 2008 | March 17, 2009 | −38.1% | 2008 financial crisis |

### 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.

- NFLX fell further than the S&P 500 in seven of the nine crashes it has traded through. The clearest case was the 2022 bear market, when NFLX fell 71.9% and the S&P 500 fell 24.5%.
- Among its popular alternatives, AAPL held up best, falling less than NFLX in seven of the nine crashes they both traded through.
- NFLX began trading after the dot-com bust, but five of its popular alternatives lived through it. The mildest fall among them was CMCSA's 61.6%, against 47.5% for the S&P 500.

| Crash | Dates | NFLX fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −55.9% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −6.5% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −59.7% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −36.8% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −6.7% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −38.7% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −22.6% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −71.9% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −6.1% | −3.4% |

### 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.

- Over the past 10 years, NFLX captured 122% of the S&P 500's gains in rising months and 105% of its losses in falling months, with a beta of 1.18. It amplified the market's moves in both directions.
- Only AAPL, TTWO and GOOG had a higher capture ratio (upside capture divided by downside capture) than NFLX's 1.16, out of ten popular alternatives with the same record.
- AAPL took just 94% of the S&P 500's losses, against 105% for NFLX, while still keeping 137% of its gains.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| NFLX: Netflix, Inc. (this page) | 122% | 105% | 1.18 |
| [AAPL](https://easycompare.io/research/aapl): Apple Inc. | 137% | 94.0% | 1.15 |
| [AMZN](https://easycompare.io/research/amzn): Amazon.com, Inc. | 134% | 139% | 1.31 |
| [GOOG](https://easycompare.io/research/goog): Alphabet Inc. | 132% | 110% | 1.12 |
| [TTWO](https://easycompare.io/research/ttwo): Take-Two Interactive Software, Inc. | 91.0% | 75.0% | 0.78 |
| MGNI: Magnite, Inc. | 148% | 208% | 2.31 |
| [DIS](https://easycompare.io/research/dis): The Walt Disney Company | 90.0% | 162% | 1.32 |
| [SNY](https://easycompare.io/research/sny): Sanofi | 53.0% | 74.0% | 0.46 |
| [CMCSA](https://easycompare.io/research/cmcsa): Comcast Corporation | 65.0% | 139% | 0.87 |
| TTD: The Trade Desk, Inc. | 140% | 173% | 1.75 |
| CHTR: Charter Communications, Inc. | 41.0% | 141% | 0.88 |

### 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).

- Moving a fifth of the money in NFLX into LVHI would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (+2.7% for NFLX alone, +7.5% for the mix).
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of NFLX over the past 5 years, with correlations of 0.36 or lower, and each still earned a positive 5-year return.
- CAH made money in three of the five calendar years in which NFLX lost money.

| Investment | Correlation with NFLX | 5Y return | Volatility | Sharpe | Rose in NFLX's 5 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.18 | +119% | 11.1% | 1.48 | 1 of 5 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.25 | +225% | 19.1% | 1.34 | 2 of 5 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.36 | +101% | 14.5% | 1.04 | 2 of 5 |
| HDV: iShares Core High Dividend ETF | 0.26 | +83.3% | 13.0% | 1.00 | 2 of 5 |
| FTLS: First Trust Long/Short Equity ETF | 0.48 | +62.9% | 10.4% | 0.99 | 0 of 5 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.36 | +323% | 36.9% | 0.97 | 2 of 5 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.39 | +85.0% | 13.8% | 0.96 | 1 of 5 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.19 | +126% | 18.9% | 0.96 | 2 of 5 |

## 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.

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## Explore further

- Full page with charts: https://easycompare.io/research/nflx
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against NFLX live: https://betterthanspy.com/?b=NFLX&utm_source=easycompare&utm_medium=research