# How NIKE (NKE) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/nke
> 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 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.

## Key findings

- **Right now:** Over 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.
- **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 years:** NKE 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.
- **Long term:** NKE 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%.
- **In a crash:** Across 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%).
- **Diversification:** NKE 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.
- **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.

- $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.

## 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.

- 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.

- Type: Stock, Consumer Discretionary (Apparel - Footwear & Accessories)
- Trading since: October 20, 1986
- Market value: $56B
- Volatility (5 years): 35.8%; Sharpe ratio: -0.57
- Worst decline ever: −79.1%, from November 5, 2021 to October 2, 2026; not yet back at its high

| Period | NKE total return |
| --- | --- |
| 1 month | +4.9% |
| 3 months | −11.9% |
| 6 months | −16.9% |
| year to date | −38.6% |
| 1 year | −42.1% |
| 3 years | −60.4% |
| 5 years | −73.8% |
| 10 years | −15.5% |

## 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.

- 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.

| Measure | NKE | Rank |
| --- | --- | --- |
| 1-year return | −42.1% | 3,019 of 3,287 (top 92%) |
| 3-year return | −60.4% | 2,915 of 3,017 (top 97%) |
| 5-year return | −73.8% | 2,677 of 2,893 (top 93%) |
| 10-year return | −15.5% | 1,890 of 2,202 (top 86%) |
| Volatility, 5 years | 35.8% | 1,193 of 2,893 (top 42%) |
| Sharpe ratio, 5 years | -0.57 | 2,873 of 2,893 (top 100%) |
| Worst decline, past 10 years | −79.1% | 1,611 of 2,187 (top 74%) |

### 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).

- 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%.

### Is there a better investment than NKE?

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.

- 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.

The 15 strongest of 1,988 investments that beat NKE 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 NKE | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NKE: NIKE, Inc. (this page) |  | −23.5% | 35.8% | -0.57 | −79.1% | −15.5% |  |  |
| [BIL](https://easycompare.io/research/bil): State Street SPDR Bloomberg 1-3 Month T-Bill ETF | Treasury Bonds | +3.7% | 0.3% | 14.05 | −0.2% | +25.8% | 0.07 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [GOOG](https://easycompare.io/research/goog): Alphabet Inc. | Internet Services | +19.0% | 32.0% | 0.71 | −44.6% | +752% | 0.08 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [MSFT](https://easycompare.io/research/msft): Microsoft Corporation | Software | +12.5% | 28.2% | 0.56 | −37.1% | +946% | 0.41 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VOO](https://easycompare.io/research/voo): Vanguard S&P 500 ETF | US Large-Cap Equity | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.53 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.38 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | Pharmaceuticals | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.20 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [V](https://easycompare.io/research/v): Visa Inc. | Payment Processing | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | Food & Beverages | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.37 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | US Large-Cap Value | +12.1% | 13.7% | 0.90 | −36.8% | +235% | 0.55 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | Gold | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.18 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [PG](https://easycompare.io/research/pg): The Procter & Gamble Company | Household & Personal Products | +5.1% | 18.3% | 0.37 | −23.8% | +145% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [LIN](https://easycompare.io/research/lin): Linde plc | Chemicals | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.50 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [UNH](https://easycompare.io/research/unh): UnitedHealth Group Incorporated | Managed Health Care | +1.1% | 32.1% | 0.20 | −61.4% | +241% | 0.00 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VIG](https://easycompare.io/research/vig): Vanguard Dividend Appreciation ETF | US Dividend Equity | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.62 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [TMO](https://easycompare.io/research/tmo): Thermo Fisher Scientific Inc. | Life Sciences Tools | +2.9% | 27.8% | 0.24 | −40.9% | +366% | 0.40 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |

## 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.

- 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%).

### 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.

- 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.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of NKE | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| NKE: NIKE, Inc. (this page) | −42.1% | −60.4% | −73.8% | −15.5% |  |  | -0.57 |
| RL: Ralph Lauren Corporation | +14.8% | +241% | +251% | +370% | 5/5 short-term, 3/3 long-term | all-weather | 0.87 |
| [TJX](https://easycompare.io/research/tjx): The TJX Companies, Inc. | +3.8% | +71.6% | +147% | +361% | 5/5 short-term, 3/3 long-term | all-weather | 0.93 |
| XRT: State Street SPDR S&P Retail ETF | +4.3% | +53.4% | +1.6% | +137% | 5/5 short-term, 3/3 long-term | all-weather | 0.14 |
| COLM: Columbia Sportswear Company | +18.8% | −9.7% | −31.7% | +15.8% | 5/5 short-term, 3/3 long-term | all-weather | -0.07 |
| CROX: Crocs, Inc. | +47.4% | +41.9% | −10.7% | +1,406% | 4/5 short-term, 3/3 long-term | all-weather | 0.24 |
| [AMZN](https://easycompare.io/research/amzn): Amazon.com, Inc. | +21.3% | +110% | +53.8% | +548% | 4/5 short-term, 3/3 long-term | all-weather | 0.42 |
| SHOO: Steven Madden, Ltd. | +31.6% | +45.1% | +18.9% | +136% | 4/5 short-term, 3/3 long-term | all-weather | 0.28 |
| WWW: Wolverine World Wide, Inc. | −22.9% | +160% | −26.5% | +15.3% | 4/5 short-term, 3/3 long-term | all-weather | 0.20 |
| DECK: Deckers Outdoor Corporation | −12.8% | +5.4% | +45.9% | +822% | 3/5 short-term, 3/3 long-term | consistent | 0.39 |
| DKS: DICK'S Sporting Goods, Inc. | −34.9% | +40.7% | +35.4% | +236% | 3/5 short-term, 3/3 long-term | consistent | 0.37 |
| JD: JD.com, Inc. | −18.0% | +20.2% | −64.3% | +14.4% | 3/5 short-term, 3/3 long-term | consistent | -0.14 |
| GIII: G-III Apparel Group, Ltd. | +5.2% | +16.9% | +2.6% | +3.0% | 3/5 short-term, 3/3 long-term | consistent | 0.28 |
| PVH: PVH Corp. | +5.6% | +19.3% | −21.4% | −20.6% | 5/5 short-term, 2/3 long-term | consistent | 0.14 |
| CAL: Caleres, Inc. | +5.8% | −49.2% | −38.1% | −41.3% | 5/5 short-term, 2/3 long-term | consistent | 0.11 |
| ONON: On Holding AG | −14.6% | +41.5% | +12.9% | — | 5/5 short-term, 2/3 long-term | consistent | 0.32 |
| LEVI: Levi Strauss & Co. | +3.3% | +62.5% | −7.3% | — | 3/5 short-term, 2/3 long-term | consistent | 0.16 |
| VFC: V.F. Corporation | +23.7% | +3.5% | −72.1% | −54.2% | 4/5 short-term, 1/3 long-term |  | -0.20 |
| OXM: Oxford Industries, Inc. | −24.1% | −64.6% | −63.6% | −42.4% | 2/5 short-term, 1/3 long-term |  | -0.18 |
| UAA: Under Armour, Inc. | +3.2% | −33.0% | −75.8% | −87.3% | 2/5 short-term, 1/3 long-term |  | -0.27 |
| BIRK: Birkenstock Holding plc | −20.9% | −15.3% | — | — | 2/5 short-term, 1/3 long-term |  | — |
| GOOS: Canada Goose Holdings Inc. | −37.8% | −32.6% | −79.4% | — | 2/5 short-term, 1/3 long-term |  | -0.34 |
| LULU: Lululemon Athletica Inc. | −42.0% | −74.8% | −75.9% | +73.0% | 0/5 short-term, 1/3 long-term |  | -0.44 |
| AS: Amer Sports, Inc. | −1.8% | — | — | — | 3/5 short-term, 0/3 long-term |  | — |

### 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.

- 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.

| Year | NKE | SPY |
| --- | --- | --- |
| 2025 | −13.8% | +17.7% |
| 2024 | −29.1% | +24.9% |
| 2023 | −6.0% | +26.2% |
| 2022 | −29.0% | −18.2% |
| 2021 | +18.7% | +28.7% |
| 2020 | +41.0% | +18.3% |
| 2019 | +38.1% | +31.2% |
| 2018 | +19.9% | −4.6% |
| 2017 | +24.7% | +21.7% |
| 2016 | −17.7% | +12.0% |

## 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.

- 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.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −79.1% | November 5, 2021 | October 2, 2026 | not yet | +75.6% | 2022 bear market |
| −64.4% | February 13, 1997 | February 25, 2000 | February 11, 2004 | +70.3% |  |
| −51.0% | December 15, 1992 | December 21, 1993 | July 26, 1995 | — |  |
| −44.8% | July 16, 1990 | October 17, 1990 | January 31, 1991 | — |  |
| −44.1% | June 5, 2008 | March 9, 2009 | March 1, 2010 | −50.7% | 2008 financial crisis |

### 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.

- 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%.

| Crash | Dates | NKE fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −39.1% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −44.1% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.4% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −14.3% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −17.9% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −7.0% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −20.8% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −38.6% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −49.7% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −2.5% | −3.4% |

### 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.

- 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.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| NKE: NIKE, Inc. (this page) | 71.0% | 155% | 1.01 |
| RL: Ralph Lauren Corporation | 116% | 128% | 1.40 |
| [TJX](https://easycompare.io/research/tjx): The TJX Companies, Inc. | 81.0% | 65.0% | 0.78 |
| XRT: State Street SPDR S&P Retail ETF | 91.0% | 125% | 1.27 |
| COLM: Columbia Sportswear Company | 70.0% | 128% | 0.91 |
| CROX: Crocs, Inc. | 171% | 150% | 1.68 |
| [AMZN](https://easycompare.io/research/amzn): Amazon.com, Inc. | 134% | 139% | 1.31 |
| SHOO: Steven Madden, Ltd. | 114% | 165% | 1.23 |
| WWW: Wolverine World Wide, Inc. | 134% | 254% | 1.78 |
| DECK: Deckers Outdoor Corporation | 124% | 102% | 0.99 |
| DKS: DICK'S Sporting Goods, Inc. | 97.0% | 111% | 1.41 |
| JD: JD.com, Inc. | 51.0% | 92.0% | 0.57 |
| GIII: G-III Apparel Group, Ltd. | 135% | 258% | 2.09 |
| PVH: PVH Corp. | 115% | 244% | 2.03 |
| CAL: Caleres, Inc. | 84.0% | 200% | 1.65 |
| VFC: V.F. Corporation | 96.0% | 251% | 1.50 |
| OXM: Oxford Industries, Inc. | 93.0% | 227% | 1.46 |
| UAA: Under Armour, Inc. | 31.0% | 203% | 1.48 |
| LULU: Lululemon Athletica Inc. | 83.0% | 132% | 1.12 |

### 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).

- 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.

| Investment | Correlation with NKE | 5Y return | Volatility | Sharpe | Rose in NKE's 9 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.23 | +225% | 19.1% | 1.34 | 5 of 9 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.45 | +101% | 14.5% | 1.04 | 5 of 9 |
| HDV: iShares Core High Dividend ETF | 0.46 | +83.3% | 13.0% | 1.00 | 5 of 9 |
| FTLS: First Trust Long/Short Equity ETF | 0.46 | +62.9% | 10.4% | 0.99 | 4 of 9 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.26 | +323% | 36.9% | 0.97 | 5 of 9 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.18 | +126% | 18.9% | 0.96 | 6 of 9 |
| FFLC: Fidelity Fundamental Large Cap Core ETF | 0.47 | +107% | 16.8% | 0.95 | 3 of 9 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.34 | +136% | 20.8% | 0.93 | 4 of 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.

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## Explore further

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