Relative Intelligence · Apparel & Footwear
How NIKE (NKE) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on NKE alone. It places NKE (NIKE, 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 NKE stands in the market, and of the alternatives worth a closer look.
Period covered: NKE's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.
Data as of October 20, 2026. Full tables and charts read best on a larger screen.
On this page12 sections
Key findings
- Right nowOver the past 6 months, NKE fell 16.9% while the S&P 500 rose 9.1%. The slide is NKE's own: it is 76.6% below its high, against 1.3% for the S&P 500. At a glance ↓
- Stock or market?The weakness is NKE's own: it fell 11.9% over the past 3 months while the apparel & footwear ETF XLY (State Street Consumer Discretionary Select Sector SPDR ETF) rose 1.0%. The S&P 500 rose 3.9%. Its apparel & footwear peers did not move as one over the past 3 months: VFC (V.F.) rose 4.2%, while AS (Amer Sports) fell 16.6%.
- Past 1 to 3 yearsNKE has gone against the market, falling 42.1% over the past year while the S&P 500 rose 15.8%. The same gap shows up over 3 years (60.4% against 89.3%). NKE finished behind the S&P 500 in both 2024 and 2025. By year ↓
- Long termNKE turned $10,000 into $8,450 over the past decade, against $42,100 in the S&P 500. NKE's 10-year loss of 15.5% puts it behind 86% of the stocks worth at least $300 million with that much history. The S&P 500 returned 321%. Growth of $10,000 ↓
- In a crashAcross seven sell-offs, NKE has typically fallen 1.2 times as far as the S&P 500. In the 2022 bear market, NKE fell 49.7%, against 24.5% for the S&P 500. That was more than RL (Ralph Lauren, 36.5%) but less than ONON (On Holding, 56.1%). Crash tests ↓
- DiversificationNKE is some diversification, but not a hedge: a correlation of 0.53 with the S&P 500 over 5 years and 0.52 with the total US market, more closely than 79% of stocks worth at least $300 million. Over 10 years, NKE's beta versus the S&P 500 was 1.01: in the S&P 500's rising months it gained 71% as much as the index, and in falling months it lost 1.5 times as much. Market capture ↓
- Better options
- Popular alternatives
- TJX (TJX Companies), COLM (Columbia Sportswear) and XRT (State Street SPDR S&P Retail ETF) earned more than NKE with less volatility over the past 5 years. TJX returned 19.9% a year at 22.3% volatility, against a loss of 23.5% a year at 35.8%.
- Nearby categories and themes
- ORLY (O'Reilly Automotive, specialty retail) and AZO (AutoZone, specialty retail) earned more than NKE with less volatility over the past 5 years. ORLY returned 15.9% a year at 23.4% volatility, against a loss of 23.5% a year at 35.8%.
- Whole market
- 1,988 of the 3,633 stocks and funds worth at least $500 million earned more than NKE with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and MSFT (Microsoft).
How much would $10,000 in NKE have grown?
This chart tracks a hypothetical $10,000 investment in NKE over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of NKE over the same span and NKE'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.
- $10,000 invested in NKE at the end of September 1997 would have grown to $75,164 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- Six of the eight other investments on the chart ended ahead of NKE, and AMZN finished highest, at $11,484,924.
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. 635 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of NKE; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- AMZN$11M+114,749% total · +27.5% a year
- DECK$2M+17,903% total · +19.6% a year
- TJX$958,745+9,487% total · +17.0% a year
- SHOO$534,128+5,241% total · +14.7% a year
- RL$181,892+1,719% total · +10.5% a year
- GIII$137,658+1,277% total · +9.5% a year
- SPY (S&P 500)$132,907+1,229% total · +9.3% a year
- NKE$75,164+652% total · +7.2% a year
- PVH$53,971+440% total · +6.0% a year
- WWW$34,377+244% total · +4.3% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 3,471 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of NKE; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- RL$35,246+252% total · +28.7% a year
- TJX$21,559+116% total · +16.6% 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
- SHOO$12,505+25.0% total · +4.6% a year
- XRT$9,835−1.6% total · −0.3% a year
- LEVI$9,188−8.1% total · −1.7% a year
- CROX$8,176−18.2% total · −3.9% a year
- COLM$6,501−35.0% total · −8.3% a year
- NKE$2,672−73.3% total · −23.2% a year
NKE 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.
- NKE is still 76.6% below its all-time high.
- NKE's deepest decline since it began trading in 1986 was 79.1%, from November 2021 to October 2026. It has not yet climbed back to that peak.
- Over 29 full calendar years, NKE's best was 2003, when it returned 54.9%, and its worst was 1997, when it lost 34.5%. It lost money in nine of those years.
The company
- Market value
- $56B
- Industry
- Apparel - Footwear & Accessories
- Price history from
- October 1986
Returns
- Past 1 year
- −42.1%total return
- Past 3 years
- −60.4%−26.6% a year
- Past 5 years
- −73.8%−23.5% a year
- Past 10 years
- −15.5%−1.7% a year
- Best calendar year
- +54.9%2003
- Worst calendar year
- −34.5%1997
- Losing years
- 9 of 29full calendar years
Risk
- Volatility
- 35.8%typical yearly swing, 5 years
- Sharpe ratio
- -0.57return per unit of risk, 5 years
- Worst decline ever
- −79.1%Nov 2021 to Oct 2026
- From its all-time high
- −76.6%below the peak
NKE against the whole market
Where NKE ranks among every stock and fund, and what across the market has done better.
How does NKE rank among all stocks?
This section ranks NKE 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 NKE stacks up against its peers, these rankings show where it stands in the market as a whole.
- On return for the risk taken (the Sharpe ratio), NKE ranks in the bottom 1% of the 2,893 stocks worth at least $300 million.
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.
| Measure | NKE | Rank | Standing |
|---|---|---|---|
| 1-year return | −42.1% | 3,019 of 3,287 | bottom 9% |
| 3-year return | −60.4% | 2,915 of 3,017 | bottom 4% |
| 5-year return | −73.8% | 2,677 of 2,893 | bottom 8% |
| 10-year return | −15.5% | 1,890 of 2,202 | bottom 15% |
| Volatility, 5 years | 35.8% | 1,193 of 2,893 | top 41% |
| Sharpe ratio, 5 years | -0.57 | 2,873 of 2,893 | bottom 2% |
| Worst decline, past 10 years | −79.1% | 1,611 of 2,187 | bottom 27% |
What has beaten NKE 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). NKE sits where the dashed lines cross. Anything in the green box above and to the left earned more than NKE 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.
- 1,018 stocks and 970 ETFs worth at least $500 million sit in the green region: each earned more than NKE over the past 5 years with smaller price swings. That is 55% of the 3,633 screened.
- Among those with at least half NKE's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 31% less than NKE's 35.8%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against -0.57 for NKE. MPC earned the most, 51.2% a year, while still swinging less than NKE (33.4% against 35.8%).
- Among NKE's popular alternatives, TJX and COLM are in the region. TJX earned 19.9% a year against a loss of 23.5% a year for NKE, at 22.3% volatility, 38% less than NKE's 35.8%.
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 NKE; faint dots are 91 more of the 1,988 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.
- Popular alternatives
- Same and neighboring categories, and shared themes
- The whole market
- Others in the green region
Is there a better investment than NKE?
Investments that beat NKE over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among NKE's popular alternatives, TJX, COLM and XRT earned more than NKE with less volatility over the past 5 years. TJX returned 19.9% a year at 22.3% volatility, against a loss of 23.5% a year at 35.8%.
- Looking beyond its popular alternatives, ORLY (specialty retail) and AZO (specialty retail) earned more than NKE with less volatility over the past 5 years. ORLY returned 15.9% a year at 23.4% volatility, against a loss of 23.5% a year at 35.8%.
- Across the whole market, 1,988 of the 3,633 stocks and funds worth at least $500 million earned more than NKE with less volatility over the past 5 years, among them AAPL, GOOG and MSFT.
How this works
The table below lists investments that beat NKE 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 NKE'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 NKE 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 NKE'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× NKE's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than NKE's.
| Investment | Why it is better | Past 5 years | Downside | Long run | Fit | ||||
|---|---|---|---|---|---|---|---|---|---|
| Annual return?higher is better | Volatility?lower is calmer | Sharpe?return per unit of risk | Worst decline?past 10 years | 10Y returntotal | Corr. with NKE?lower diversifies more | Expenseper year | |||
| NKENIKE, Inc. · this page | −23.5% | 35.8% | -0.57 | −79.1% | −15.5% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.53 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against NKE. 16 of 21 passed at least one test. | |||||||||
 TJXThe TJX Companies, Inc. · Specialty Retail | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +19.9% | 22.3% | 0.93 | −42.5% | +361% | 0.36 | — | |
COLMColumbia Sportswear Company · Apparel - Manufacturers | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | −7.3% | 32.4% | -0.07 | −53.9% | +15.8% | 0.59 | — | |
XRTState Street SPDR S&P Retail ETF · Consumer Discretionary | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +0.3% | 26.8% | 0.14 | −47.0% | +137% | 0.52 | 0.35% | |
 AMZNAmazon.com, Inc. · E-Commerce | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +9.0% | 36.6% | 0.42 | −56.1% | +548% | 0.21 | — | |
RLRalph Lauren Corporation · Apparel & Footwear | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +28.6% | 36.9% | 0.87 | −55.1% | +370% | 0.49 | — | |
LEVILevi Strauss & Co. · Apparel & Footwear | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | −1.5% | 39.1% | 0.16 | −59.9% | — | 0.55 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Apparel & Footwear and the categories next to it (Specialty Retail, Luxury Goods, Sporting Goods), plus NKE's specific themes. 21 of 29 passed at least one test. | |||||||||
 ORLYO'Reilly Automotive, Inc. · Specialty Retail | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +15.9% | 23.4% | 0.75 | −42.0% | +393% | 0.12 | — | |
 AZOAutoZone, Inc. · Specialty Retail | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.3% | 25.3% | 0.59 | −42.1% | +323% | 0.07 | — | |
TSCOTractor Supply Company · Specialty Retail | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | −2.3% | 29.3% | 0.07 | −52.7% | +198% | 0.50 | — | |
 ROSTRoss Stores, Inc. · Specialty Retail | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +18.1% | 29.5% | 0.71 | −51.4% | +312% | 0.39 | — | |
 HDThe Home Depot, Inc. · Specialty Retail | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | 0.0% | 24.7% | 0.12 | −38.0% | +217% | 0.48 | — | |
ULTAUlta Beauty, Inc. · Specialty Retail | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +11.0% | 34.4% | 0.48 | −64.9% | +137% | 0.37 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 2,835 of 3,586 passed at least one test. | |||||||||
 BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF · Treasury Bonds | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +3.7% | 0.3% | 14.05 | −0.2% | +25.8% | 0.07 | 0.14% | |
 GOOGAlphabet Inc. · Internet Services | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +19.0% | 32.0% | 0.71 | −44.6% | +752% | 0.08 | — | |
 MSFTMicrosoft Corporation · Software | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.5% | 28.2% | 0.56 | −37.1% | +946% | 0.41 | — | |
 VOOVanguard S&P 500 ETF · US Large-Cap Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.53 | 0.03% | |
 BRK-BBerkshire Hathaway Inc. · Insurance | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.38 | — | |
 JNJJohnson & Johnson · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.20 | — | |
 VVisa Inc. · Payment Processing | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.39 | — | |
 PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas | On the frontierHigher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +51.8% | 37.5% | 1.31 | −71.7% | +768% | 0.15 | — | |
What these numbers mean for NKE
- Annual return
- NKE lost 23.5% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $2,620. 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
- NKE's volatility over the past 5 years was 35.8%, about twice the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, NKE's return lands within 35.8% 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
- NKE's Sharpe ratio over the past 5 years was -0.57, against 0.79 for the S&P 500, so NKE 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
- NKE's worst fall from a peak to a low over the past 10 years was 79.1%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 79.1% fall takes a 378% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, NKE's monthly returns had a correlation of 0.53 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 NKE instead: the lower it is, the more that option would diversify a NKE holding. Guide: Correlation and diversification →
Show all 1,988 stocks and funds worth at least $500 million that earned more than NKE 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.
| # | Investment | Found in | Annual return | Volatility | Sharpe | Worst decline | 10Y return | Corr. with NKE | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF · Treasury Bonds | Whole market | +3.7% | 0.3% | 14.05 | −0.2% | +25.8% | 0.07 | 0.14% |
| 2 | GOOGAlphabet Inc. · Internet Services | Whole market | +19.0% | 32.0% | 0.71 | −44.6% | +752% | 0.08 | — |
| 3 | MSFTMicrosoft Corporation · Software | Whole market | +12.5% | 28.2% | 0.56 | −37.1% | +946% | 0.41 | — |
| 4 | VOOVanguard S&P 500 ETF · US Large-Cap Equity | Whole market | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.53 | 0.03% |
| 5 | BRK-BBerkshire Hathaway Inc. · Insurance | Whole market | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.38 | — |
| 6 | JNJJohnson & Johnson · Pharmaceuticals | Whole market | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.20 | — |
| 7 | VVisa Inc. · Payment Processing | Whole market | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.39 | — |
| 8 |  KOThe Coca-Cola Company · Food & Beverages | Whole market | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.37 | — |
| 9 |  VTVVanguard Morningstar Value ETF · US Large-Cap Value | Whole market | +12.1% | 13.7% | 0.90 | −36.8% | +235% | 0.55 | 0.03% |
| 10 |  GLDSPDR Gold Shares · Gold | Whole market | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.18 | 0.40% |
| 11 |  PGThe Procter & Gamble Company · Household & Personal Products | Whole market | +5.1% | 18.3% | 0.37 | −23.8% | +145% | 0.39 | — |
| 12 |  LINLinde plc · Chemicals | Whole market | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.50 | — |
| 13 |  UNHUnitedHealth Group Incorporated · Managed Health Care | Whole market | +1.1% | 32.1% | 0.20 | −61.4% | +241% | 0.00 | — |
| 14 |  VIGVanguard Dividend Appreciation ETF · US Dividend Equity | Whole market | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.62 | 0.04% |
| 15 |  TMOThermo Fisher Scientific Inc. · Life Sciences Tools | Whole market | +2.9% | 27.8% | 0.24 | −40.9% | +366% | 0.40 | — |
| 16 |  SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Whole market | +9.7% | 14.3% | 0.72 | −33.4% | +252% | 0.50 | 0.06% |
| 17 |  BNDVanguard Total Bond Market ETF · Investment Grade Bonds | Whole market | −0.4% | 6.1% | -0.03 | −18.6% | +13.2% | 0.47 | 0.03% |
| 18 |  TAT&T Inc. · Integrated Telecommunications | Whole market | +9.8% | 25.2% | 0.50 | −39.4% | +60.7% | 0.28 | — |
| 19 |  VTIPVanguard Short-Term Inflation-Protected Securities ETF · Treasury Bonds | Whole market | +2.7% | 2.9% | 0.94 | −6.3% | +32.7% | 0.43 | 0.03% |
| 20 | FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Financials | Whole market | +6.0% | 2.3% | 2.55 | −21.0% | +58.0% | 0.43 | 0.60% |
| 21 |  VZVerizon Communications Inc. · Integrated Telecommunications | Whole market | +2.7% | 22.9% | 0.23 | −41.2% | +55.8% | 0.27 | — |
| 22 |  RSGRepublic Services, Inc. · Environmental Services | Whole market | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.27 | — |
| 23 |  MCDMcDonald's Corporation · Restaurants | Whole market | +2.9% | 17.9% | 0.25 | −36.9% | +181% | 0.48 | — |
| 24 |  RYRoyal Bank of Canada · Banks | Whole market | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.36 | — |
| 25 |  ULUnilever PLC · Household & Personal Products | Whole market | +5.5% | 21.5% | 0.36 | −30.1% | +89.8% | 0.32 | — |
| 26 |  MSIMotorola Solutions, Inc. · Communications Equipment | Whole market | +14.8% | 23.6% | 0.71 | −32.8% | +625% | 0.41 | — |
| 27 |  WMWaste Management, Inc. · Environmental Services | Whole market | +9.3% | 19.2% | 0.56 | −30.1% | +344% | 0.30 | — |
| 28 |  GSKGSK plc · Pharmaceuticals | Whole market | +9.5% | 24.5% | 0.49 | −37.6% | +95.1% | 0.38 | — |
| 29 |  NGGNational Grid plc · Electric Utilities | Whole market | +11.8% | 22.6% | 0.61 | −39.2% | +118% | 0.39 | — |
| 30 |  NEENextEra Energy, Inc. · Electric Utilities | Whole market | +1.5% | 26.8% | 0.19 | −45.0% | +228% | 0.32 | — |
| 31 |  DUKDuke Energy Corporation · Electric Utilities | Whole market | +7.5% | 18.0% | 0.50 | −37.4% | +132% | 0.42 | — |
| 32 |  AEPAmerican Electric Power Company, Inc. · Electric Utilities | Whole market | +12.4% | 20.2% | 0.68 | −32.9% | +185% | 0.36 | — |
| 33 |  PEPPepsiCo, Inc. · Food & Beverages | Whole market | −0.5% | 19.1% | 0.07 | −30.3% | +72.6% | 0.39 | — |
| 34 |  BSVVanguard Short-Term Bond ETF · Short-Term Bonds | Whole market | +1.7% | 2.8% | 0.63 | −8.5% | +20.5% | 0.41 | 0.03% |
| 35 |  FASTFastenal Company · Industrial Distribution | Whole market | +15.8% | 24.6% | 0.72 | −30.7% | +576% | 0.34 | — |
| 36 |  CLColgate-Palmolive Company · Household & Personal Products | Whole market | +7.2% | 19.2% | 0.46 | −29.0% | +68.8% | 0.33 | — |
| 37 |  DHRDanaher Corporation · Life Sciences Tools | Whole market | −3.8% | 29.1% | 0.01 | −43.8% | +232% | 0.36 | — |
| 38 |  MMM3M Company · Industrial Conglomerates | Whole market | +6.5% | 28.8% | 0.36 | −57.4% | +76.0% | 0.43 | — |
| 39 |  ICEIntercontinental Exchange, Inc. · Capital Markets | Whole market | +5.4% | 21.8% | 0.35 | −34.3% | +240% | 0.51 | — |
| 40 |  MRSHMarsh & McLennan Companies, Inc. · Insurance | Whole market | +4.4% | 20.9% | 0.31 | −35.8% | +245% | 0.43 | — |
| 41 |  SBUXStarbucks Corporation · Restaurants | Whole market | −0.4% | 31.9% | 0.15 | −43.7% | +130% | 0.52 | — |
| 42 | CASYCasey's General Stores, Inc. · Convenience Stores | Whole market | +29.9% | 29.3% | 1.04 | −36.1% | +537% | 0.14 | — |
| 43 |  BNDXVanguard Total International Bond ETF · International Bonds | Whole market | +0.2% | 4.9% | 0.06 | −16.2% | +15.0% | 0.41 | 0.07% |
| 44 |  EDConsolidated Edison, Inc. · Electric Utilities | Whole market | +12.0% | 18.8% | 0.70 | −30.9% | +114% | 0.30 | — |
| 45 |  XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity | Whole market | +8.4% | 15.3% | 0.60 | −28.4% | +202% | 0.40 | 0.08% |
| 46 |  AAPLApple Inc. · Computer Hardware | Whole market | +18.5% | 28.0% | 0.75 | −38.5% | +1,168% | 0.37 | — |
| 47 |  CAHCardinal Health, Inc. · Health Care Distribution | Whole market | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.25 | — |
| 48 | FLOTiShares Floating Rate Bond ETF · Floating Rate Bonds | Whole market | +4.5% | 1.8% | 2.48 | −13.5% | +35.9% | 0.22 | 0.15% |
| 49 | SHYiShares 1-3 Year Treasury Bond ETF · Treasury Bonds | Whole market | +1.8% | 2.0% | 0.89 | −5.7% | +17.7% | 0.36 | 0.15% |
| 50 |  DLRDigital Realty Trust, Inc. · Data Center REITs | Whole market | +6.3% | 29.4% | 0.35 | −48.5% | +154% | 0.32 | — |
| 51 |  NDAQNasdaq, Inc. · Capital Markets | Whole market | +8.9% | 24.7% | 0.47 | −38.3% | +407% | 0.42 | — |
| 52 | ATOAtmos Energy Corporation · Gas Utilities | Whole market | +14.9% | 18.4% | 0.85 | −32.9% | +194% | 0.32 | — |
| 53 | SPSBState Street SPDR Portfolio Short Term Corporate Bond ETF · Investment Grade Bonds | Whole market | +2.8% | 2.0% | 1.38 | −11.8% | +29.2% | 0.46 | 0.04% |
| 54 | CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications | Whole market | +7.7% | 13.3% | 0.63 | −23.8% | +101% | 0.35 | — |
| 55 | ACWIiShares MSCI ACWI ETF · Global Equity | Whole market | +10.6% | 16.2% | 0.70 | −33.5% | +227% | 0.57 | 0.32% |
| 56 | BCHBanco de Chile · Banks | Whole market | +25.2% | 28.2% | 0.94 | −58.4% | +180% | 0.15 | — |
| 57 |  XELXcel Energy Inc. · Electric Utilities | Whole market | +6.5% | 20.9% | 0.41 | −34.4% | +156% | 0.33 | — |
| 58 |  KRThe Kroger Co. · Grocery Stores | Whole market | +12.3% | 27.3% | 0.56 | −43.8% | +151% | 0.21 | — |
| 59 |  PSAPublic Storage · Self-Storage REITs | Whole market | +3.2% | 24.1% | 0.25 | −37.9% | +107% | 0.30 | — |
| 60 | HYGHiShares Interest Rate Hedged High Yield Bond ETF · Bonds | Whole market | +6.6% | 7.1% | 0.94 | −23.9% | +74.5% | 0.50 | 1.12% |
| 61 |  WCNWaste Connections, Inc. · Environmental Services | Whole market | +6.1% | 20.0% | 0.40 | −31.6% | +270% | 0.17 | — |
| 62 | HDViShares Core High Dividend ETF · US Dividend Equity | Whole market | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.46 | 0.08% |
| 63 | NINiSource Inc · Gas Utilities | Whole market | +15.1% | 20.3% | 0.80 | −30.9% | +158% | 0.42 | — |
| 64 | WECWEC Energy Group, Inc. · Electric Utilities | Whole market | +7.2% | 19.0% | 0.46 | −32.3% | +159% | 0.35 | — |
| 65 |  WATWaters Corporation · Life Sciences Tools | Whole market | +4.5% | 33.9% | 0.30 | −44.3% | +182% | 0.33 | — |
| 66 | USMViShares MSCI USA Min Vol Factor ETF · US Low-Volatility Equity | Whole market | +7.6% | 12.3% | 0.66 | −33.1% | +176% | 0.56 | 0.15% |
| 67 |  DDominion Energy, Inc. · Electric Utilities | Whole market | +0.5% | 22.7% | 0.14 | −52.2% | +32.5% | 0.36 | — |
| 68 |  KDPKeurig Dr Pepper Inc. · Food & Beverages | Whole market | +2.5% | 22.1% | 0.23 | −36.9% | +281% | 0.18 | — |
| 69 | JAAAJanus Henderson AAA CLO ETF · CLO Bonds | Whole market | +5.1% | 1.7% | 2.98 | −2.6% | — | 0.29 | 0.20% |
| 70 | AEEAmeren Corporation · Electric Utilities | Whole market | +7.9% | 19.4% | 0.49 | −29.1% | +192% | 0.41 | — |
| 71 |  LLYEli Lilly and Company · Pharmaceuticals | Whole market | +40.7% | 32.8% | 1.21 | −34.5% | +1,807% | 0.12 | — |
| 72 | FEFirstEnergy Corp. · Electric Utilities | Whole market | +8.5% | 19.4% | 0.52 | −47.7% | +111% | 0.45 | — |
| 73 |  MUBiShares National Muni Bond ETF · Municipal Bonds | Whole market | +0.3% | 4.2% | 0.09 | −13.7% | +17.8% | 0.46 | 0.05% |
| 74 | XLUState Street Utilities Select Sector SPDR ETF · Utilities Equity | Whole market | +7.8% | 17.4% | 0.52 | −36.0% | +138% | 0.48 | 0.08% |
| 75 | SDYState Street SPDR S&P Dividend ETF · US Dividend Equity | Whole market | +7.6% | 14.0% | 0.59 | −36.7% | +157% | 0.59 | 0.35% |
| 76 |  VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Whole market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.52 | 0.03% |
| 77 | RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity | Whole market | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.55 | 0.39% |
| 78 | CHDChurch & Dwight Co., Inc. · Household & Personal Products | Whole market | +6.1% | 21.1% | 0.39 | −31.7% | +154% | 0.40 | — |
| 79 | HSYThe Hershey Company · Packaged Foods | Whole market | +1.3% | 23.4% | 0.17 | −45.3% | +127% | 0.32 | — |
| 80 | RMDResMed Inc. · Medical Devices | Whole market | −0.3% | 31.8% | 0.15 | −54.0% | +331% | 0.35 | — |
| 81 | BKLNInvesco Senior Loan ETF · Bank Loans | Whole market | +5.4% | 4.5% | 1.19 | −24.1% | +50.7% | 0.44 | 0.67% |
| 82 | MUSAMurphy USA Inc. · Convenience Stores | Whole market | +26.1% | 31.2% | 0.90 | −35.5% | +706% | -0.07 | — |
| 83 | KMBKimberly-Clark Corporation · Household & Personal Products | Whole market | 0.0% | 21.1% | 0.11 | −34.1% | +29.9% | 0.24 | — |
| 84 | LMBSFirst Trust Low Duration Opportunities ETF · Mortgage-Backed Securities | Whole market | +3.0% | 2.6% | 1.14 | −6.5% | +25.6% | 0.39 | 0.66% |
| 85 |  CMCSAComcast Corporation · Telecommunications | Whole market | −13.5% | 27.7% | -0.39 | −60.3% | −9.9% | 0.34 | — |
| 86 | CMSCMS Energy Corporation · Electric Utilities | Whole market | +5.6% | 19.0% | 0.38 | −29.6% | +123% | 0.39 | — |
| 87 | SRLNState Street Blackstone Senior Loan ETF · Bank Loans | Whole market | +4.7% | 3.9% | 1.18 | −22.3% | +54.2% | 0.44 | 0.70% |
| 88 | LNTAlliant Energy Corporation · Electric Utilities | Whole market | +7.3% | 19.8% | 0.46 | −33.5% | +150% | 0.38 | — |
| 89 | XLPState Street Consumer Staples Select Sector SPDR ETF · Consumer Staples | Whole market | +7.2% | 13.8% | 0.57 | −24.5% | +121% | 0.50 | 0.08% |
| 90 | FLTRVanEck IG Floating Rate ETF · Multi-Asset | Whole market | +4.8% | 2.1% | 2.20 | −17.8% | +41.8% | 0.16 | 0.14% |
| 91 |  CTA-PBEIDP, Inc. USD 4.50 Cum Pfd Registered Shs · Chemicals | Whole market | −7.6% | 26.4% | -0.17 | −39.9% | −13.7% | 0.05 | — |
| 92 | HYGiShares iBoxx $ High Yield Corporate Bond ETF · High Yield Bonds | Whole market | +3.1% | 7.5% | 0.45 | −22.0% | +49.5% | 0.56 | 0.49% |
| 93 | EXRExtra Space Storage Inc. · Self-Storage REITs | Whole market | −1.3% | 28.3% | 0.10 | −51.4% | +168% | 0.29 | — |
| 94 | BROBrown & Brown, Inc. · Insurance | Whole market | +2.6% | 26.0% | 0.23 | −55.8% | +317% | 0.32 | — |
| 95 | FLRNState Street SPDR Bloomberg Investment Grade Floating Rate ETF · Bonds | Whole market | +4.5% | 1.7% | 2.58 | −14.7% | +35.9% | 0.25 | 0.15% |
| 96 |  WMTWalmart Inc. · Discount Retail | Whole market | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.31 | — |
| 97 | MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity | Whole market | +9.1% | 18.4% | 0.57 | −33.3% | +276% | 0.59 | 0.46% |
| 98 | ORLYO'Reilly Automotive, Inc. · Specialty Retail | Same or nearby category | +15.9% | 23.4% | 0.75 | −42.0% | +393% | 0.12 | — |
| 99 |  XOMExxonmobil Holdings Corporation · Integrated Oil & Gas | Whole market | +27.1% | 26.5% | 1.04 | −61.0% | +214% | 0.24 | — |
| 100 |  DEODiageo plc · Alcoholic Beverages | Whole market | −11.9% | 25.6% | -0.37 | −63.4% | +11.7% | 0.39 | — |
NKE against its popular alternatives
The investments people most often weigh against NKE, compared period by period and year by year.
How do NKE'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 NKE, which divides the map into what did better or worse on each measure.
- TJX, XRT and COLM were both more rewarding and calmer than NKE over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, NKE returned -23.5% a year, less than the S&P 500's 12.7%, with higher volatility (35.8% against 17.1%).
Green points earned more than NKE with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| RL Ralph Lauren Corporation | +28.6% | 36.9% |
| TJX The TJX Companies, Inc. | +19.9% | 22.3% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| AMZN Amazon.com, Inc. | +9.0% | 36.6% |
| DECK Deckers Outdoor Corporation | +7.8% | 44.1% |
| DKS DICK'S Sporting Goods, Inc. | +6.3% | 45.5% |
| SHOO Steven Madden, Ltd. | +3.5% | 39.6% |
| ONON On Holding AG | +2.5% | 56.5% |
| GIII G-III Apparel Group, Ltd. | +0.5% | 50.9% |
| XRT State Street SPDR S&P Retail ETF | +0.3% | 26.8% |
| LEVI Levi Strauss & Co. | −1.5% | 39.1% |
| CROX Crocs, Inc. | −2.2% | 55.1% |
| PVH PVH Corp. | −4.7% | 47.3% |
| WWW Wolverine World Wide, Inc. | −6.0% | 58.8% |
| COLM Columbia Sportswear Company | −7.3% | 32.4% |
| CAL Caleres, Inc. | −9.1% | 56.4% |
| OXM Oxford Industries, Inc. | −18.3% | 48.4% |
| JD JD.com, Inc. | −18.6% | 52.6% |
| VFC V.F. Corporation | −22.6% | 54.5% |
| NKE This pageNIKE, Inc. | −23.5% | 35.8% |
| UAA Under Armour, Inc. | −24.7% | 53.2% |
| LULU Lululemon Athletica Inc. | −24.8% | 43.4% |
| GOOS Canada Goose Holdings Inc. | −27.1% | 52.8% |
Has NKE consistently beaten its popular alternatives?
This section compares NKE 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 NKE helps separate lasting outperformance from a single strong stretch.
- 16 of the 23 popular alternatives, led by RL, TJX and XRT, outperformed NKE in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- RL, TJX and XRT outperformed NKE in every long-term period and in all but one short-term period, the most consistent record in the group.
- TJX, RL and AMZN earned more for the risk they took than NKE (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
A green cell means the alternative earned more than NKE 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.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| NKE NIKE, Inc. (this page) | — | +4.9% | −11.9% | −16.9% | −38.6% | −42.1% | −60.4% | −73.8% | −15.5% | 35.8% | -0.57 | −79.1% | — | $56B | — |
| RL QualifiedRalph Lauren Corporation | 5/5 short3/3 longAll-weather | +11.7% | +0.8% | −2.3% | +5.2% | +14.8% | +241% | +251% | +370% | 36.9% | 0.87 | −55.1% | — | $23B | — |
| TJX QualifiedThe TJX Companies, Inc. | 5/5 short3/3 longAll-weather | +12.3% | −5.3% | −7.3% | −3.8% | +3.8% | +71.6% | +147% | +361% | 22.3% | 0.93 | −42.5% | — | $162B | — |
| XRT QualifiedState Street SPDR S&P Retail ETF | 5/5 short3/3 longAll-weather | +6.2% | −1.2% | +0.1% | +2.8% | +4.3% | +53.4% | +1.6% | +137% | 26.8% | 0.14 | −47.0% | 0.35% | $316M | — |
| COLM QualifiedColumbia Sportswear Company | 5/5 short3/3 longAll-weather | +7.7% | 0.0% | −3.6% | +10.7% | +18.8% | −9.7% | −31.7% | +15.8% | 32.4% | -0.07 | −53.9% | — | $3.1B | — |
| CROX QualifiedCrocs, Inc. | 4/5 short3/3 longAll-weather | −1.9% | −10.4% | +9.2% | +39.6% | +47.4% | +41.9% | −10.7% | +1,406% | 55.1% | 0.24 | −75.2% | — | $5.8B | — |
| AMZN QualifiedAmazon.com, Inc. | 4/5 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 | — |
| SHOO QualifiedSteven Madden, Ltd. | 4/5 short3/3 longAll-weather | +5.2% | +4.7% | +14.6% | +8.5% | +31.6% | +45.1% | +18.9% | +136% | 39.6% | 0.28 | −60.2% | — | $3.3B | — |
| WWW QualifiedWolverine World Wide, Inc. | 4/5 short3/3 longAll-weather | +4.0% | +8.8% | +9.4% | +12.6% | −22.9% | +160% | −26.5% | +15.3% | 58.8% | 0.20 | −82.6% | — | $1.7B | — |
| DECK QualifiedDeckers Outdoor Corporation | 3/5 short3/3 long | +8.9% | −16.0% | −21.3% | −18.2% | −12.8% | +5.4% | +45.9% | +822% | 44.1% | 0.39 | −65.3% | — | $12B | — |
| DKS QualifiedDICK'S Sporting Goods, Inc. | 3/5 short3/3 long | +15.7% | −32.6% | −37.0% | −27.0% | −34.9% | +40.7% | +35.4% | +236% | 45.5% | 0.37 | −70.8% | — | $13B | — |
| JD QualifiedJD.com, Inc. | 3/5 short3/3 long | −1.9% | −12.5% | −14.7% | −6.2% | −18.0% | +20.2% | −64.3% | +14.4% | 52.6% | -0.14 | −79.1% | — | $36B | — |
| GIII QualifiedG-III Apparel Group, Ltd. | 3/5 short3/3 long | +3.1% | −19.3% | −8.6% | −2.4% | +5.2% | +16.9% | +2.6% | +3.0% | 50.9% | 0.28 | −90.8% | — | $1.2B | — |
| PVH QualifiedPVH Corp. | 5/5 short2/3 long | +17.8% | +12.0% | −12.0% | +27.7% | +5.6% | +19.3% | −21.4% | −20.6% | 47.3% | 0.14 | −82.7% | — | $4.0B | — |
| CAL QualifiedCaleres, Inc. | 5/5 short2/3 long | +8.7% | +9.8% | −7.4% | +7.6% | +5.8% | −49.2% | −38.1% | −41.3% | 56.4% | 0.11 | −91.6% | — | $447M | — |
| ONON QualifiedOn Holding AG | 5/5 short2/3 long | +29.6% | −5.9% | −4.9% | −24.6% | −14.6% | +41.5% | +12.9% | — | 56.5% | 0.32 | −68.9% | — | $12B | — |
| LEVI QualifiedLevi Strauss & Co. | 3/5 short2/3 long | +5.2% | −12.2% | −8.6% | +2.1% | +3.3% | +62.5% | −7.3% | — | 39.1% | 0.16 | −59.9% | — | $8.0B | — |
| VFC Apparel - ManufacturersV.F. Corporation | 4/5 short1/3 long | +33.8% | +4.2% | −17.8% | −2.1% | +23.7% | +3.5% | −72.1% | −54.2% | 54.5% | -0.20 | −88.4% | — | $6.9B | — |
| OXM Apparel - ManufacturersOxford Industries, Inc. | 2/5 short1/3 long | −1.5% | −32.1% | −38.1% | −19.2% | −24.1% | −64.6% | −63.6% | −42.4% | 48.4% | -0.18 | −76.5% | — | $403M | — |
| UAA Apparel - ManufacturersUnder Armour, Inc. | 2/5 short1/3 long | +2.3% | −33.0% | −26.2% | −7.8% | +3.2% | −33.0% | −75.8% | −87.3% | 53.2% | -0.27 | −89.1% | — | $2.1B | — |
| BIRK Apparel - Footwear & AccessoriesBirkenstock Holding plc | 2/5 short1/3 long | +4.6% | −23.4% | −21.6% | −21.5% | −20.9% | −15.3% | — | — | — | — | −52.8% | — | $5.8B | — |
| GOOS Apparel - ManufacturersCanada Goose Holdings Inc. | 2/5 short1/3 long | +9.1% | −15.8% | −32.7% | −39.4% | −37.8% | −32.6% | −79.4% | — | 52.8% | -0.34 | −90.2% | — | $800M | — |
| LULU Apparel - RetailLululemon Athletica Inc. | 0/5 short1/3 long | −1.3% | −14.3% | −40.1% | −52.6% | −42.0% | −74.8% | −75.9% | +73.0% | 43.4% | -0.44 | −82.0% | — | $12B | — |
| AS LeisureAmer Sports, Inc. | 3/5 short0/3 long | +10.4% | −16.6% | −17.4% | −19.2% | −1.8% | — | — | — | — | — | −40.7% | — | $18B | — |
How did NKE do year by year?
This table shows each investment's total return in every full calendar year since 1997, along with where NKE ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with NKE and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- NKE finished ahead of the S&P 500 in 18 of its 29 full calendar years, and behind it in each of the last five.
- Among its popular alternatives, LEVI came out ahead of NKE most often, in four of the six years both traded.
- Ranked against its popular alternatives each year, NKE finished in the top quarter in five of 29 years and in the bottom quarter in five. In 2025, it ranked 12 of 24.
Newest year first. Green marks a year in which the fund came out ahead of NKE; gray means the two finished within a fraction of a point. The rank row places NKE among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of NKE | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NKE This pageNIKE, Inc. | — | −13.8% | −29.1% | −6.0% | −29.0% | +18.7% | +41.0% | +38.1% | +19.9% | +24.7% | −17.7% | +31.4% | +23.8% | +54.4% | +8.7% | +14.5% | +31.2% | +32.0% | −19.3% | +31.4% | +15.0% | −3.7% | +33.4% | +54.9% | −20.6% | +1.4% | +13.7% | +22.9% | +4.3% | −34.5% |
| Rank among alternatives | Top quarter in 5 of 29 | 12 of 24 | 23 of 23 | 15 of 22 | 11 of 22 | 11 of 21 | 7 of 21 | 8 of 20 | 7 of 20 | 12 of 19 | 15 of 19 | 3 of 19 | 3 of 18 | 9 of 18 | 15 of 18 | 8 of 18 | 14 of 18 | 13 of 18 | 5 of 18 | 4 of 17 | 13 of 15 | 10 of 14 | 6 of 14 | 7 of 14 | 12 of 13 | 8 of 13 | 9 of 13 | 4 of 13 | 5 of 12 | 10 of 10 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 11 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% |
| RL Ralph Lauren Corporation | 14 of 28 | +55.0% | +62.8% | +39.8% | −8.4% | +16.7% | −10.6% | +16.1% | +1.8% | +17.5% | −17.2% | −38.8% | +6.0% | +18.9% | +9.6% | +25.2% | +37.6% | +79.0% | −26.3% | −20.2% | +38.7% | +32.4% | +48.7% | +33.2% | −18.7% | +20.0% | +30.7% | −11.1% | −20.8% | — |
| TJX The TJX Companies, Inc. | 14 of 29 | +28.7% | +30.6% | +19.7% | +6.7% | +12.8% | +12.3% | +38.8% | +18.9% | +3.5% | +7.4% | +4.6% | +8.8% | +51.7% | +33.0% | +47.6% | +22.9% | +81.0% | −27.4% | +1.8% | +24.0% | −6.8% | +15.0% | +13.8% | −1.6% | +44.3% | +37.1% | −29.5% | +70.3% | +44.9% |
| XRT State Street SPDR S&P Retail ETF | 8 of 19 | +8.1% | +11.8% | +21.6% | −31.6% | +42.6% | +41.9% | +14.1% | −8.0% | +4.2% | +3.3% | −8.9% | +9.9% | +42.2% | +20.7% | +9.8% | +37.4% | +77.5% | −38.0% | −17.0% | — | — | — | — | — | — | — | — | — | — |
| COLM Columbia Sportswear Company | 10 of 27 | −33.1% | +7.1% | −7.8% | −8.8% | +12.6% | −12.5% | +20.3% | +18.2% | +24.9% | +21.0% | +10.7% | +14.7% | +49.9% | +16.5% | −21.6% | +61.2% | +12.6% | −18.6% | −20.1% | +17.0% | −19.9% | +9.4% | +22.7% | +33.4% | +0.4% | +131% | +27.3% | — | — |
| CROX Crocs, Inc. | 10 of 19 | −21.9% | +17.3% | −13.9% | −15.4% | +105% | +49.6% | +61.2% | +106% | +84.3% | −33.0% | −18.0% | −21.6% | +10.6% | −2.6% | −13.7% | +198% | +364% | −96.6% | +70.4% | — | — | — | — | — | — | — | — | — | — |
| AMZN Amazon.com, Inc. | 18 of 28 | +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% | +74.6% | −30.5% | −79.6% | +42.2% | +968% | — |
| SHOO Steven Madden, Ltd. | 19 of 29 | +0.6% | +3.2% | +34.6% | −29.5% | +33.5% | −17.4% | +44.3% | −1.1% | +30.6% | +18.2% | −5.1% | −13.0% | +29.8% | +22.5% | +24.1% | +51.6% | +93.8% | +6.6% | −43.0% | +84.3% | +61.1% | −7.9% | +13.2% | +28.4% | +85.4% | −60.1% | +124% | +12.5% | +47.6% |
| WWW Wolverine World Wide, Inc. | 12 of 29 | −16.5% | +155% | −15.6% | −61.1% | −6.7% | −5.7% | +7.2% | +1.0% | +46.5% | +32.9% | −42.8% | −12.4% | +67.2% | +16.4% | +13.3% | +18.9% | +32.0% | −12.6% | −12.8% | +28.4% | +8.6% | +55.9% | +36.4% | +1.5% | 0.0% | +41.0% | −16.7% | −40.9% | +17.5% |
| DECK Deckers Outdoor Corporation | 16 of 29 | −48.9% | +82.3% | +67.5% | +9.0% | +27.7% | +69.9% | +31.9% | +59.4% | +45.0% | +17.3% | −48.1% | +7.7% | +110% | −46.8% | −5.2% | +135% | +27.3% | −48.4% | +159% | +118% | −41.4% | +129% | +514% | −21.4% | −19.1% | +100% | +20.0% | −70.8% | +9.1% |
| DKS DICK'S Sporting Goods, Inc. | 13 of 23 | −11.5% | +58.9% | +25.9% | +6.6% | +117% | +17.9% | +63.2% | +11.4% | −44.8% | +52.1% | −28.0% | −13.6% | +28.9% | +30.2% | −0.4% | +50.8% | +76.2% | −49.2% | +13.4% | +47.4% | −5.5% | +44.4% | +154% | — | — | — | — | — | — |
| JD JD.com, Inc. | 6 of 11 | −14.9% | +23.5% | −47.8% | −17.9% | −20.3% | +149% | +68.3% | −49.5% | +62.9% | −21.2% | +39.4% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| GIII G-III Apparel Group, Ltd. | 14 of 29 | −10.9% | −4.0% | +148% | −50.4% | +16.4% | −29.1% | +20.1% | −24.4% | +24.8% | −33.2% | −12.4% | +36.6% | +116% | +37.4% | −29.1% | +62.1% | +239% | −56.6% | −21.4% | +108% | +96.9% | −25.1% | +53.8% | −14.3% | +19.2% | +62.2% | −3.3% | −27.2% | +52.3% |
| PVH PVH Corp. | 13 of 29 | −36.5% | −13.3% | +73.3% | −33.7% | +13.6% | −10.6% | +13.3% | −32.2% | +52.3% | +22.7% | −42.4% | −5.7% | +22.7% | +57.7% | +12.1% | +55.3% | +103% | −45.1% | −26.3% | +55.5% | +20.6% | +53.4% | +55.1% | +7.0% | −15.1% | +59.5% | +17.7% | −48.9% | +0.1% |
| CAL Caleres, Inc. | 14 of 29 | −46.4% | −23.9% | +39.4% | −0.5% | +46.7% | −31.7% | −13.6% | −16.2% | +3.0% | +23.6% | −15.8% | +15.3% | +55.1% | +111% | −34.1% | +44.1% | +22.8% | −42.8% | −51.7% | +70.2% | +43.7% | −20.3% | +61.2% | +49.3% | +28.2% | −4.6% | −17.5% | +34.8% | −22.7% |
| ONON On Holding AG | 2 of 4 | −15.1% | +103% | +57.2% | −54.6% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| LEVI Levi Strauss & Co. | 4 of 6 | +23.4% | +7.5% | +10.0% | −36.5% | +26.0% | +5.3% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| VFC V.F. Corporation | 15 of 29 | −13.8% | +16.6% | −28.5% | −60.4% | −12.0% | −12.0% | +51.8% | −1.3% | +42.8% | −12.1% | −15.3% | +22.2% | +68.3% | +21.4% | +51.0% | +21.4% | +39.0% | −17.5% | −14.1% | +52.7% | +1.8% | +30.5% | +23.1% | −5.3% | +10.2% | +25.3% | −34.7% | +2.7% | +40.2% |
| OXM Oxford Industries, Inc. | 14 of 29 | −54.0% | −18.9% | +10.0% | −6.1% | +57.6% | −11.2% | +8.3% | −4.0% | +27.4% | −4.2% | +17.2% | −30.7% | +76.0% | +4.0% | +79.0% | +26.2% | +148% | −64.7% | −47.1% | −8.0% | +34.2% | +23.4% | +170% | +12.4% | +60.9% | −19.3% | −27.3% | −10.7% | +39.3% |
| UAA Under Armour, Inc. | 9 of 20 | −40.0% | −5.8% | −13.5% | −52.0% | +23.4% | −20.5% | +22.2% | +22.4% | −50.3% | −27.9% | +18.7% | +55.5% | +80.0% | +35.2% | +30.8% | +101% | +14.4% | −45.4% | −13.5% | +31.7% | — | — | — | — | — | — | — | — | — |
| BIRK Birkenstock Holding plc | 1 of 2 | −27.8% | +16.3% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| GOOS Canada Goose Holdings Inc. | 4 of 8 | +29.1% | −15.4% | −33.5% | −51.9% | +24.5% | −17.8% | −17.1% | +38.5% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| LULU Lululemon Athletica Inc. | 11 of 18 | −45.7% | −25.2% | +59.6% | −18.2% | +12.5% | +50.2% | +90.5% | +54.7% | +20.9% | +23.9% | −5.9% | −5.5% | −22.6% | +63.4% | +36.4% | +127% | +279% | −83.2% | — | — | — | — | — | — | — | — | — | — | — |
| AS Amer Sports, Inc. | 1 of 1 | +33.6% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Risk and diversification
How NKE 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 NKE's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents NKE's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
- Not every decline was the market's doing: NKE fell 79.1% from November 2021 to October 2026, while the S&P 500 rose 75.6%.
- The slowest recovery came after NKE fell 64.4% from February 1997 to February 2000; it did not regain that peak until February 2004, four years later.
- In two of NKE's three worst declines, the S&P 500 held up better over the same dates.
Green means NKE fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | NKE fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2022 bear market | −79.1% | +75.6% | Nov 2021 | Oct 2026 | 4.9 years | Not yet | — |
| No named crash | −64.4% | +70.3% | Feb 1997 | Feb 2000 | 3 years | Feb 2004 | 4 years |
| No named crash | −51.0% | — | Dec 1992 | Dec 1993 | 12 months | Jul 1995 | 19 months |
| No named crash | −44.8% | — | Jul 1990 | Oct 1990 | 3 months | Jan 1991 | 3 months |
| 2008 financial crisis | −44.1% | −50.7% | Jun 2008 | Mar 2009 | 9 months | Mar 2010 | 12 months |
How did NKE do in stock market crashes?
This section measures how far NKE, 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.
- None of its popular alternatives fell less than NKE in most of the crashes they both traded through.
- NKE fell further than the S&P 500 in six of the ten crashes it has traded through. The clearest case was the 2022 bear market, when NKE fell 49.7% and the S&P 500 fell 24.5%.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than NKE.
| Investment | Held up better | 2023 regional bank crisisMar 2023 | 2022 bear marketJan 2022 | Covid crashFeb 2020 | Late-2018 sell-offSep 2018 | February 2018 volatility shockFeb 2018 | 2015 China and oil sell-offAug 2015 | 2011 euro debt crisisJul 2011 | 2010 flash crashMay 2010 | 2008 financial crisisOct 2007 | Dot-com bustMar 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NKE This pageNIKE, Inc. | — | −2.5% | −49.7% | −38.6% | −20.8% | −7.0% | −17.9% | −14.3% | −2.4% | −44.1% | −39.1% |
| SPY S&P 500State Street SPDR S&P 500 ETF | 6 of 10 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| RL Ralph Lauren Corporation | 1 of 10 | −4.8% | −36.5% | −46.3% | −30.1% | −7.7% | −39.1% | −18.1% | −3.0% | −58.2% | −43.5% |
| TJX The TJX Companies, Inc. | 5 of 10 | −4.7% | −27.7% | −42.5% | −25.6% | −5.3% | −16.1% | −9.7% | −2.1% | −49.9% | −32.6% |
| XRT State Street SPDR S&P Retail ETF | 2 of 9 | −6.3% | −37.1% | −41.1% | −24.8% | −3.2% | −20.9% | −20.3% | −2.6% | −61.9% | — |
| COLM Columbia Sportswear Company | 3 of 10 | −3.6% | −32.2% | −38.4% | −15.4% | −2.7% | −33.8% | −31.3% | −2.5% | −50.9% | −60.4% |
| CROX Crocs, Inc. | 3 of 9 | −10.1% | −65.0% | −72.3% | −17.8% | −6.2% | −46.0% | −30.2% | 0.0% | −98.7% | — |
| AMZN Amazon.com, Inc. | 2 of 10 | −3.4% | −39.6% | −22.7% | −33.2% | −7.1% | −30.6% | −20.7% | −2.9% | −65.3% | −91.8% |
| SHOO Steven Madden, Ltd. | 2 of 10 | −2.5% | −41.9% | −52.5% | −25.6% | −5.7% | −31.1% | −29.5% | −2.8% | −52.0% | −70.8% |
| WWW Wolverine World Wide, Inc. | 2 of 10 | −5.3% | −45.8% | −57.7% | −21.6% | −8.7% | −47.6% | −22.9% | −2.4% | −56.4% | −34.7% |
| DECK Deckers Outdoor Corporation | 3 of 10 | −4.8% | −36.7% | −54.7% | −13.6% | −5.3% | −40.1% | −30.2% | −5.7% | −77.2% | −53.3% |
| DKS DICK'S Sporting Goods, Inc. | 2 of 9 | −3.1% | −39.4% | −61.2% | −22.6% | −5.1% | −35.5% | −24.9% | −3.9% | −71.8% | — |
| JD JD.com, Inc. | 2 of 6 | −14.6% | −45.1% | −21.0% | −27.3% | −8.2% | −29.9% | — | — | — | — |
| GIII G-III Apparel Group, Ltd. | 0 of 10 | −8.7% | −52.4% | −83.0% | −46.3% | −8.0% | −42.4% | −35.9% | −2.9% | −83.8% | −50.3% |
| PVH PVH Corp. | 1 of 10 | −7.8% | −59.8% | −66.5% | −39.9% | −5.5% | −44.2% | −31.0% | −5.8% | −73.4% | −53.7% |
| CAL Caleres, Inc. | 2 of 10 | −10.6% | −26.2% | −76.6% | −28.0% | −3.2% | −29.6% | −44.4% | −4.1% | −89.6% | −49.0% |
| ONON On Holding AG | 0 of 2 | −9.4% | −56.1% | — | — | — | — | — | — | — | — |
| LEVI Levi Strauss & Co. | 1 of 3 | −7.6% | −41.7% | −48.1% | — | — | — | — | — | — | — |
| VFC V.F. Corporation | 3 of 10 | −12.1% | −61.4% | −44.9% | −27.8% | −2.1% | −28.7% | −13.8% | −2.0% | −52.9% | −31.1% |
| OXM Oxford Industries, Inc. | 3 of 10 | −5.2% | −26.9% | −53.2% | −29.6% | −4.2% | −37.9% | −20.2% | −7.1% | −88.3% | −37.2% |
| UAA Under Armour, Inc. | 1 of 9 | −13.2% | −69.0% | −51.4% | −30.4% | −5.3% | −35.5% | −33.7% | −3.8% | −80.7% | — |
| GOOS Canada Goose Holdings Inc. | 0 of 5 | −7.1% | −58.9% | −52.3% | −41.7% | −20.1% | — | — | — | — | — |
| LULU Lululemon Athletica Inc. | 2 of 9 | −4.2% | −36.4% | −47.3% | −30.3% | −5.3% | −33.9% | −29.4% | −3.6% | −92.2% | — |
How closely does NKE 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 NKE with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- 14 of the 18 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than NKE's 0.46, led by TJX, DECK and CROX.
- TJX took just 65% of the S&P 500's losses, against 155% for NKE, while still keeping 81% of its gains.
- Over the past 10 years, NKE captured 71% of the S&P 500's gains in rising months and 155% of its losses in falling months, with a beta of 1.01. Its share of the market's losses was larger than its share of the gains.
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 NKE's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| NKE This pageNIKE, Inc. | 71% | 155% | 0.46 | 1.01 |
| TJX The TJX Companies, Inc. | 81% | 65% | 1.25 | 0.78 |
| DECK Deckers Outdoor Corporation | 124% | 102% | 1.21 | 0.99 |
| CROX Crocs, Inc. | 171% | 150% | 1.14 | 1.68 |
| AMZN Amazon.com, Inc. | 134% | 139% | 0.96 | 1.31 |
| RL Ralph Lauren Corporation | 116% | 128% | 0.91 | 1.40 |
| DKS DICK'S Sporting Goods, Inc. | 97% | 111% | 0.87 | 1.41 |
| XRT State Street SPDR S&P Retail ETF | 91% | 125% | 0.73 | 1.27 |
| SHOO Steven Madden, Ltd. | 114% | 165% | 0.69 | 1.23 |
| LULU Lululemon Athletica Inc. | 83% | 132% | 0.63 | 1.12 |
| JD JD.com, Inc. | 51% | 92% | 0.56 | 0.57 |
| COLM Columbia Sportswear Company | 70% | 128% | 0.55 | 0.91 |
| WWW Wolverine World Wide, Inc. | 134% | 254% | 0.53 | 1.78 |
| GIII G-III Apparel Group, Ltd. | 135% | 258% | 0.52 | 2.09 |
| PVH PVH Corp. | 115% | 244% | 0.47 | 2.03 |
| CAL Caleres, Inc. | 84% | 200% | 0.42 | 1.65 |
| OXM Oxford Industries, Inc. | 93% | 227% | 0.41 | 1.46 |
| VFC V.F. Corporation | 96% | 251% | 0.38 | 1.50 |
| UAA Under Armour, Inc. | 31% | 203% | 0.15 | 1.48 |
What diversifies NKE?
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 NKE's. Because such investments tend not to fall at the same time, pairing NKE with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in NKE into DXJ would have cut the portfolio's volatility by 18% over the past 5 years and raised its annual return (-23.2% for NKE alone, -14.2% for the mix).
- Among large ETFs, DXJ, EMLP and HDV have moved largely independently of NKE over the past 5 years, with correlations of 0.46 or lower, and each still earned a positive 5-year return.
- MCK made money in six of the nine calendar years in which NKE lost money.
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 NKE lost money. The last two columns show a portfolio that is 80% NKE and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2025 | 2024 | 2023 | 2022 | 2016 | 2008 | 2005 | 2002 | 1997 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NKE NIKE, Inc. (this page) | 1.00 | −73.8% | -0.57 | −13.8% | −29.1% | −6.0% | −29.0% | −17.7% | −19.3% | −3.7% | −20.6% | −34.5% | 32.1% | −23.2% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.23 | +225% | 1.34 | +32.8% | +29.8% | +42.0% | +6.0% | +1.1% | −20.8% | — | — | — | 26.4% | −14.2% |
| EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund | 0.45 | +101% | 1.04 | +9.7% | +33.4% | +8.0% | +10.4% | +29.8% | — | — | — | — | 27.1% | −16.0% |
| HDV Dividend & IncomeiShares Core High Dividend ETF | 0.46 | +83.3% | 1.00 | +11.9% | +14.1% | +1.8% | +7.1% | +15.9% | — | — | — | — | 27.2% | −16.5% |
| FTLS Broad MarketFirst Trust Long/Short Equity ETF | 0.46 | +62.9% | 0.99 | +9.1% | +18.8% | +16.9% | −5.6% | +6.5% | — | — | — | — | 26.5% | −16.7% |
| SMH TechnologyVanEck Semiconductor ETF | 0.26 | +323% | 0.97 | +49.2% | +39.1% | +73.4% | −33.5% | +35.6% | −44.7% | +10.8% | −47.0% | — | 28.3% | −12.3% |
| GLD CommoditiesSPDR Gold Shares | 0.18 | +126% | 0.96 | +63.7% | +26.7% | +12.7% | −0.8% | +8.0% | +4.9% | +17.8% | — | — | 26.6% | −15.4% |
| FFLC Broad MarketFidelity Fundamental Large Cap Core ETF | 0.47 | +107% | 0.95 | +17.7% | +27.9% | +25.1% | 0.0% | — | — | — | — | — | 27.4% | −15.8% |
| SPMO Broad MarketInvesco S&P 500 Momentum ETF | 0.34 | +136% | 0.93 | +26.6% | +45.8% | +17.6% | −10.4% | +7.4% | — | — | — | — | 27.4% | −15.0% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2025 | 2024 | 2023 | 2022 | 2016 | 2008 | 2005 | 2002 | 1997 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NKE NIKE, Inc. (this page) | 1.00 | −73.8% | -0.57 | −13.8% | −29.1% | −6.0% | −29.0% | −17.7% | −19.3% | −3.7% | −20.6% | −34.5% | 32.1% | −23.2% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.25 | +479% | 1.55 | +76.3% | +19.0% | +34.1% | +54.1% | −17.5% | −39.6% | +18.7% | −8.3% | +29.1% | 27.5% | −12.6% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.16 | +3,143% | 1.47 | +220% | +215% | +160% | +1.3% | +7.4% | −20.5% | −25.2% | −65.1% | — | 29.9% | −2.8% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.29 | +1,636% | 1.46 | +121% | +107% | +79.6% | +17.0% | +18.3% | −15.2% | +20.1% | −9.4% | — | 29.6% | −6.1% |
| MCK Medical - DistributionMcKesson Corporation | 0.06 | +413% | 1.44 | +44.5% | +23.7% | +24.1% | +51.8% | −28.3% | −40.4% | +64.9% | −27.2% | +96.3% | 26.5% | −12.8% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.16 | +690% | 1.41 | +19.2% | −4.0% | +30.4% | +86.6% | +0.7% | — | — | — | — | 27.5% | −10.9% |
Common questions
What was NKE's worst drawdown?
NKE's deepest decline since it began trading in 1986 was 79.1%, from November 2021 to October 2026. It has not yet climbed back to that peak.
What were NKE's best and worst years?
Over 29 full calendar years, NKE's best year was 2003, when it returned 54.9%. Its worst was 1997, with a return of -34.5%.
Is there a better investment than NKE?
Among NKE's popular alternatives, TJX, COLM and XRT earned more than NKE with less volatility over the past 5 years. TJX returned 19.9% a year at 22.3% volatility, against a loss of 23.5% a year at 35.8%. Looking beyond its popular alternatives, ORLY (specialty retail) and AZO (specialty retail) earned more than NKE with less volatility over the past 5 years. ORLY returned 15.9% a year at 23.4% volatility, against a loss of 23.5% a year at 35.8%.
Is NKE more volatile than the S&P 500?
Yes. NKE's volatility over the past 5 years was 35.8%, about twice the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, NKE's return lands within 35.8% 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 NKE's Sharpe ratio?
NKE's Sharpe ratio over the past 5 years was -0.57, against 0.79 for the S&P 500, so NKE 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 NKE with the S&P 500?
Over the past 5 years, NKE's monthly returns had a correlation of 0.53 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 NKE instead: the lower it is, the more that option would diversify a NKE holding.
What are the best alternatives to NKE?
Of the 23 popular alternatives we compared, 16 outperformed NKE in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: RL, TJX and XRT.
Did NKE outperform the S&P 500?
NKE finished ahead of the S&P 500 (SPY) in 18 of 29 full calendar years. In 2025, it returned -13.8%, against +17.7% for the index.
How did NKE do in stock market crashes?
NKE fell less than the S&P 500 (SPY) in four of the ten major crashes it has traded through, and further in six. The clearest case was the 2022 bear market, when NKE fell 49.7% and the S&P 500 fell 24.5%.
What diversifies NKE?
These had a low correlation with NKE over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.23), EMLP (correlation 0.45) and HDV (correlation 0.46); among large stocks, CAH (correlation 0.25), CLS (correlation 0.16) and FIX (correlation 0.29). A correlation near zero means the two have moved largely independently.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y; long-term periods are 3Y, 5Y, 10Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than NKE's. Returns within 0.5 points or 3% of NKE's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
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