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Relative Intelligence · Enterprise Software

How ServiceNow (NOW) compares with the whole market and its popular alternatives

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

Period covered: NOW's full trading record, from June 2012 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against NOW →Chart NOW vs. 25 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in NOW over the past 14 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of NOW over the same span and NOW'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.

Note: NOW began trading on June 29, 2012, so the chart cannot reach back to the dot-com bust, the 2008 financial crisis or two other sell-offs. It covers the most recent 14 years of NOW's record, starting at the end of September 2012.

Choose a period

From the end of September 2012 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. 119 of the 2,213 stocks and funds worth at least $500 million that traded the whole period ended ahead of NOW; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000$200,00020122014201620182020202220242026$10,000$20,000$50,000$100,000$200,0002012201620202024
  • PANW$387,235+3,772% total · +29.8% a year
  • FTNT$370,856+3,609% total · +29.4% a year
  • LLY$323,653+3,137% total · +28.2% a year
  • UMC$224,693+2,147% total · +24.9% a year
  • MSFT$217,246+2,072% total · +24.6% a year
  • NOW$173,131+1,631% total · +22.6% a year
  • SPY (S&P 500)$67,346+573% total · +14.6% a year
  • ORCL$53,391+434% total · +12.7% a year
  • SAP$36,309+263% total · +9.6% a year
  • IBM$18,556+85.6% total · +4.5% a year
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From the end of September 2021 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 2,373 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of NOW; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$2,000$5,000$10,000$20,000202120222023202420252026$2,000$5,000$10,000$20,000202120222023202420252026
  • IBM$20,049+100% total · +14.9% a year
  • DDOG$19,374+93.7% total · +14.1% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • MSFT$18,958+89.6% total · +13.6% a year
  • ORCL$16,857+68.6% total · +11.0% a year
  • SAP$16,715+67.2% total · +10.8% a year
  • BOX$14,144+41.4% total · +7.2% a year
  • SNOW$11,228+12.3% total · +2.3% a year
  • NOW$10,768+7.7% total · +1.5% a year
  • DOCU$2,608−73.9% total · −23.6% a year
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NOW 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.

Note: NOW began trading on June 29, 2012, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust, the 2008 financial crisis or two other sell-offs.

The company

Market value
$155B
Industry
Software - Application
Price history from
June 2012

Returns

Past 1 year
−18.5%total return
Past 3 years
+37.8%+11.3% a year
Past 5 years
+9.8%+1.9% a year
Past 10 years
+848%+25.2% a year
Best calendar year
+95.0%2020
Worst calendar year
−40.2%2022
Losing years
3 of 13full calendar years

Risk

Volatility
45.5%typical yearly swing, 5 years
Sharpe ratio
0.27return per unit of risk, 5 years
Worst decline ever
−64.5%Jan 2025 to Apr 2026
From its all-time high
−36.1%below the peak

NOW against the whole market

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

How does NOW rank among all stocks?

This section ranks NOW 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 NOW stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureNOWRankStanding
1-year return−18.5%2,606 of 3,287bottom 22%
3-year return+37.8%1,732 of 3,017bottom 44%
5-year return+9.8%1,593 of 2,893bottom 46%
10-year return+848%138 of 2,202top 6%
Volatility, 5 years45.5%1,726 of 2,893bottom 41%
Sharpe ratio, 5 years0.271,653 of 2,893bottom 44%
Worst decline, past 10 years−64.5%1,070 of 2,187top 49%

What has beaten NOW 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). NOW sits where the dashed lines cross. Anything in the green box above and to the left earned more than NOW with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to NOW; faint dots are 88 more of the 1,740 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.

−10.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%−20.0%0.0%20.0%40.0%60.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than NOWMPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%HURN: +29.7% a year, volatility 40.7%RY: +17.3% a year, volatility 18.2%JAAA: +5.1% a year, volatility 1.7%AAPL: +18.5% a year, volatility 28.0%BUG: +7.1% a year, volatility 30.4%GOOG: +19.0% a year, volatility 32.0%VTI: +11.5% a year, volatility 17.5%PBR: +50.3% a year, volatility 37.5%VOO: +12.8% a year, volatility 16.9%AMZN: +9.0% a year, volatility 36.6%VLO: +44.2% a year, volatility 36.9%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%PSX: +33.2% a year, volatility 32.9%JPM: +17.3% a year, volatility 24.3%ABBV: +26.1% a year, volatility 23.4%JNJ: +12.7% a year, volatility 17.9%VRIG: +4.7% a year, volatility 1.3%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%CSW: +17.1% a year, volatility 34.4%KO: +14.7% a year, volatility 16.8%BALT: +6.3% a year, volatility 3.3%CVX: +19.5% a year, volatility 25.2%CAT: +31.1% a year, volatility 31.9%COST: +17.4% a year, volatility 22.9%VXUS: +8.2% a year, volatility 16.4%QQQ: +14.5% a year, volatility 23.0%MUFG: +33.2% a year, volatility 29.4%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%NVS: +17.1% a year, volatility 20.7%INSW: +56.5% a year, volatility 40.5%FLRT: +6.0% a year, volatility 2.3%APH: +33.8% a year, volatility 32.2%VTV: +12.1% a year, volatility 13.7%RTX: +18.6% a year, volatility 24.3%AMGN: +19.6% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%GS: +19.6% a year, volatility 28.6%VEA: +9.3% a year, volatility 16.9%MS: +16.0% a year, volatility 28.8%TD: +15.8% a year, volatility 20.0%IBKR: +35.4% a year, volatility 35.4%MFG: +33.6% a year, volatility 30.6%TJX: +19.9% a year, volatility 22.3%SCCO: +32.0% a year, volatility 40.7%GLD: +17.7% a year, volatility 18.9%LIN: +11.5% a year, volatility 20.9%VGT: +18.4% a year, volatility 26.0%SMFG: +33.7% a year, volatility 29.4%PH: +27.4% a year, volatility 28.8%BHP: +16.6% a year, volatility 31.4%C: +15.1% a year, volatility 29.4%BTI: +18.7% a year, volatility 22.0%AXP: +13.5% a year, volatility 29.3%PGR: +21.3% a year, volatility 25.6%CB: +15.7% a year, volatility 20.4%PWR: +39.3% a year, volatility 37.2%VRTX: +22.6% a year, volatility 29.1%MO: +17.8% a year, volatility 21.4%AZN: +8.7% a year, volatility 35.7%DINO: +31.8% a year, volatility 38.8%ETN: +20.4% a year, volatility 32.1%BNY: +22.7% a year, volatility 24.4%FLOT: +4.5% a year, volatility 1.8%GLW: +31.4% a year, volatility 42.1%CM: +19.2% a year, volatility 21.6%VO: +6.8% a year, volatility 17.6%DE: +14.4% a year, volatility 29.9%VIG: +10.4% a year, volatility 14.1%TRV: +22.4% a year, volatility 22.3%TT: +22.7% a year, volatility 27.7%EPD: +16.4% a year, volatility 17.1%AEM: +29.5% a year, volatility 38.4%COR: +24.2% a year, volatility 22.8%SCHD: +9.7% a year, volatility 14.3%BMO: +13.6% a year, volatility 21.4%T: +9.8% a year, volatility 25.2%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%BNS: +12.9% a year, volatility 19.9%RIO: +12.2% a year, volatility 29.0%UNP: +7.1% a year, volatility 22.9%NOW: +1.9% a year, volatility 45.5%SPY (S&P 500): +12.7% a year, volatility 17.1%SAP: +11.5% a year, volatility 30.0%MSFT: +12.5% a year, volatility 28.2%IBM: +16.6% a year, volatility 30.5%BOX: +10.1% a year, volatility 33.3%DDOG: +10.1% a year, volatility 59.7%ORCL: +7.7% a year, volatility 44.3%UMC: +19.9% a year, volatility 43.2%PTC: +8.3% a year, volatility 35.0%EXLS: +10.6% a year, volatility 32.6%PANW: +31.9% a year, volatility 43.4%FTNT: +20.7% a year, volatility 44.8%CHKP: +2.8% a year, volatility 29.0%LLY: +40.7% a year, volatility 32.8%HPE: +32.9% a year, volatility 42.2%NTAP: +20.9% a year, volatility 35.3%HALO: +26.6% a year, volatility 40.4%SGOV: +3.8% a year, volatility 0.3%KEYS: +13.9% a year, volatility 34.5%FIX: +77.0% a year, volatility 46.7%VTIP: +2.7% a year, volatility 2.9%CAH: +42.1% a year, volatility 24.7%ATI: +61.8% a year, volatility 42.9%NOWSPY (S&P 500)SAPIBMBOXDDOGORCLUMCPANWFTNTCHKPLLYHPENTAPHALOSGOVKEYSFIXCAHATI−20.0%0.0%20.0%40.0%60.0%80.0%−20.0%0.0%20.0%40.0%60.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than NOWMPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%HURN: +29.7% a year, volatility 40.7%RY: +17.3% a year, volatility 18.2%JAAA: +5.1% a year, volatility 1.7%AAPL: +18.5% a year, volatility 28.0%BUG: +7.1% a year, volatility 30.4%GOOG: +19.0% a year, volatility 32.0%VTI: +11.5% a year, volatility 17.5%PBR: +50.3% a year, volatility 37.5%VOO: +12.8% a year, volatility 16.9%AMZN: +9.0% a year, volatility 36.6%VLO: +44.2% a year, volatility 36.9%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%PSX: +33.2% a year, volatility 32.9%JPM: +17.3% a year, volatility 24.3%ABBV: +26.1% a year, volatility 23.4%JNJ: +12.7% a year, volatility 17.9%VRIG: +4.7% a year, volatility 1.3%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%CSW: +17.1% a year, volatility 34.4%KO: +14.7% a year, volatility 16.8%BALT: +6.3% a year, volatility 3.3%CVX: +19.5% a year, volatility 25.2%CAT: +31.1% a year, volatility 31.9%COST: +17.4% a year, volatility 22.9%VXUS: +8.2% a year, volatility 16.4%QQQ: +14.5% a year, volatility 23.0%MUFG: +33.2% a year, volatility 29.4%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%NVS: +17.1% a year, volatility 20.7%INSW: +56.5% a year, volatility 40.5%FLRT: +6.0% a year, volatility 2.3%APH: +33.8% a year, volatility 32.2%VTV: +12.1% a year, volatility 13.7%RTX: +18.6% a year, volatility 24.3%AMGN: +19.6% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%GS: +19.6% a year, volatility 28.6%VEA: +9.3% a year, volatility 16.9%MS: +16.0% a year, volatility 28.8%TD: +15.8% a year, volatility 20.0%IBKR: +35.4% a year, volatility 35.4%MFG: +33.6% a year, volatility 30.6%TJX: +19.9% a year, volatility 22.3%SCCO: +32.0% a year, volatility 40.7%GLD: +17.7% a year, volatility 18.9%LIN: +11.5% a year, volatility 20.9%VGT: +18.4% a year, volatility 26.0%SMFG: +33.7% a year, volatility 29.4%PH: +27.4% a year, volatility 28.8%BHP: +16.6% a year, volatility 31.4%C: +15.1% a year, volatility 29.4%BTI: +18.7% a year, volatility 22.0%AXP: +13.5% a year, volatility 29.3%PGR: +21.3% a year, volatility 25.6%CB: +15.7% a year, volatility 20.4%PWR: +39.3% a year, volatility 37.2%VRTX: +22.6% a year, volatility 29.1%MO: +17.8% a year, volatility 21.4%AZN: +8.7% a year, volatility 35.7%DINO: +31.8% a year, volatility 38.8%ETN: +20.4% a year, volatility 32.1%BNY: +22.7% a year, volatility 24.4%FLOT: +4.5% a year, volatility 1.8%GLW: +31.4% a year, volatility 42.1%CM: +19.2% a year, volatility 21.6%VO: +6.8% a year, volatility 17.6%DE: +14.4% a year, volatility 29.9%VIG: +10.4% a year, volatility 14.1%TRV: +22.4% a year, volatility 22.3%TT: +22.7% a year, volatility 27.7%EPD: +16.4% a year, volatility 17.1%AEM: +29.5% a year, volatility 38.4%COR: +24.2% a year, volatility 22.8%SCHD: +9.7% a year, volatility 14.3%BMO: +13.6% a year, volatility 21.4%T: +9.8% a year, volatility 25.2%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%BNS: +12.9% a year, volatility 19.9%RIO: +12.2% a year, volatility 29.0%UNP: +7.1% a year, volatility 22.9%NOW: +1.9% a year, volatility 45.5%SPY (S&P 500): +12.7% a year, volatility 17.1%SAP: +11.5% a year, volatility 30.0%MSFT: +12.5% a year, volatility 28.2%IBM: +16.6% a year, volatility 30.5%BOX: +10.1% a year, volatility 33.3%DDOG: +10.1% a year, volatility 59.7%ORCL: +7.7% a year, volatility 44.3%UMC: +19.9% a year, volatility 43.2%PTC: +8.3% a year, volatility 35.0%EXLS: +10.6% a year, volatility 32.6%PANW: +31.9% a year, volatility 43.4%FTNT: +20.7% a year, volatility 44.8%CHKP: +2.8% a year, volatility 29.0%LLY: +40.7% a year, volatility 32.8%HPE: +32.9% a year, volatility 42.2%NTAP: +20.9% a year, volatility 35.3%HALO: +26.6% a year, volatility 40.4%SGOV: +3.8% a year, volatility 0.3%KEYS: +13.9% a year, volatility 34.5%FIX: +77.0% a year, volatility 46.7%VTIP: +2.7% a year, volatility 2.9%CAH: +42.1% a year, volatility 24.7%ATI: +61.8% a year, volatility 42.9%NOWSPY (S&P 500)DDOGORCLUMCPANWFTNTCHKPLLYHPENTAPHALOSGOVFIXVTIPCAHATI
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than NOW?

Investments that beat NOW over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat NOW 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 NOW'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 NOW 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 NOW'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× NOW's volatility counts as better.

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

Screen the whole market against NOW for any period in BetterThanSPYOpen these 21 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with NOW?lower diversifies moreExpenseper year
NOWServiceNow, Inc. · this page
+1.9%45.5%0.27−64.5%+848%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.380.09%
Popular alternativesbest 6 shownThe investments people most often weigh against NOW. 6 of 25 passed at least one test.
SAPSAP SE · Enterprise Software
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+11.5%30.0%0.52−52.5%+205%0.69—
MSFTMicrosoft Corporation · Software
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+12.5%28.2%0.56−37.1%+946%0.59—
IBMInternational Business Machines Corporation · IT Services
Higher return, lower volatilityHigher Sharpe, smaller worst decline+16.6%30.5%0.66−41.1%+151%0.40—
BOXBox, Inc. · Enterprise Software
Higher return, lower volatilityHigher return in most periods+10.1%33.3%0.46−68.6%+176%0.40—
DDOGDatadog, Inc. · Application Software
Higher return in most periods+10.1%59.7%0.45−68.1%—0.55—
ORCLOracle Corporation · Enterprise Software
Higher return, similar volatility+7.7%44.3%0.38−64.6%+300%0.63—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Enterprise Software and Software and the categories next to it (Application Software, IT Services, Cybersecurity, Payment Processing, Semiconductors), plus NOW's specific themes. 53 of 122 passed at least one test.
UMCUnited Microelectronics Corporation · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+19.9%43.2%0.63−54.3%+1,610%0.13—
PTCPTC Inc. · Application Software
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+8.3%35.0%0.40−54.4%+317%0.51—
EXLSExlService Holdings, Inc. · IT Services
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+10.6%32.6%0.47−51.3%+327%0.27—
PANWPalo Alto Networks, Inc. · Cybersecurity
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+31.9%43.4%0.86−48.0%+1,274%0.58—
FTNTFortinet, Inc. · Cybersecurity
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+20.7%44.8%0.65−38.3%+2,626%0.50—
CHKPCheck Point Software Technologies Ltd. · Cybersecurity
Similar return, lower volatility+2.8%29.0%0.24−51.8%+82.7%0.53—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 2,040 of 3,486 passed at least one test.
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%0.18—
HPEHewlett Packard Enterprise Company · Computer Hardware
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+32.9%42.2%0.89−56.9%+483%0.45—
NTAPNetApp, Inc. · Computer Hardware
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+20.9%35.3%0.71−58.1%+691%0.60—
HALOHalozyme Therapeutics, Inc. · Biotechnology
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+26.6%40.4%0.79−49.1%+1,196%0.08—
SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst decline+3.8%0.3%13.25−0.3%—0.220.09%
KEYSKeysight Technologies, Inc. · Electronic Equipment
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+13.9%34.5%0.55−42.6%+923%0.01—
FIXComfort Systems USA, Inc. · Engineering & Construction
On the frontierHigher return, similar volatilityHigher Sharpe, smaller worst decline+77.0%46.7%1.46−49.7%+5,305%-0.04—
VTIPVanguard Short-Term Inflation-Protected Securities ETF · Treasury Bonds
Similar return, lower volatilityHigher Sharpe, smaller worst decline+2.7%2.9%0.94−6.3%+32.7%0.130.03%
What these numbers mean for NOW
Annual return
NOW returned 1.9% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $11,000. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
NOW's volatility over the past 5 years was 45.5%, 2.7 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, NOW's return lands within 45.5% 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
NOW's Sharpe ratio over the past 5 years was 0.27, against 0.79 for the S&P 500, so NOW 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
NOW's worst fall from a peak to a low over the past 10 years was 64.5%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 64.5% fall takes a 182% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, NOW's monthly returns had a correlation of 0.38 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against NOW instead: the lower it is, the more that option would diversify a NOW holding. Guide: Correlation and diversification →
Show all 1,740 stocks and funds worth at least $500 million that earned more than NOW with less volatility

Out of 3,633 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with NOWExpense
1
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.18—
2
HPEHewlett Packard Enterprise Company · Computer Hardware
Whole market+32.9%42.2%0.89−56.9%+483%0.45—
3
NTAPNetApp, Inc. · Computer Hardware
Whole market+20.9%35.3%0.71−58.1%+691%0.60—
4
HALOHalozyme Therapeutics, Inc. · Biotechnology
Whole market+26.6%40.4%0.79−49.1%+1,196%0.08—
5
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%0.08—
6
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+51.8%37.5%1.31−71.7%+768%-0.20—
7
SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds
Whole market+3.8%0.3%13.25−0.3%—0.220.09%
8
UMCUnited Microelectronics Corporation · Semiconductors
Same or nearby category+19.9%43.2%0.63−54.3%+1,610%0.13—
9
SAPSAP SE · Enterprise Software
Popular alternative+11.5%30.0%0.52−52.5%+205%0.69—
10
HURNHuron Consulting Group Inc. · Consulting Services
Whole market+29.7%40.7%0.84−51.4%+221%0.13—
11
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.09—
12
JAAAJanus Henderson AAA CLO ETF · CLO Bonds
Whole market+5.1%1.7%2.98−2.6%—0.100.20%
13
PTCPTC Inc. · Application Software
Same or nearby category+8.3%35.0%0.40−54.4%+317%0.51—
14
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.05—
15
EXLSExlService Holdings, Inc. · IT Services
Same or nearby category+10.6%32.6%0.47−51.3%+327%0.27—
16
KEYSKeysight Technologies, Inc. · Electronic Equipment
Whole market+13.9%34.5%0.55−42.6%+923%0.01—
17
AAPLApple Inc. · Computer Hardware
Whole market+18.5%28.0%0.75−38.5%+1,168%0.40—
18
BUGGlobal X - Cybersecurity ETF · Technology
Whole market+7.1%30.4%0.38−41.7%—0.710.50%
19
GOOGAlphabet Inc. · Internet Services
Whole market+19.0%32.0%0.71−44.6%+752%0.11—
20
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.5%17.5%0.71−35.0%+302%0.380.03%
21
PBRPetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+50.3%37.5%1.28−75.3%+674%-0.23—
22
MSFTMicrosoft Corporation · Software
Popular alternative+12.5%28.2%0.56−37.1%+946%0.59—
23
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.380.03%
24
AMZNAmazon.com, Inc. · E-Commerce
Whole market+9.0%36.6%0.42−56.1%+548%0.29—
25
VLOValero Energy Corporation · Oil & Gas
Whole market+44.2%36.9%1.18−71.9%+1,061%-0.02—
26
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%-0.07—
27
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.06—
28
PSXPhillips 66 · Oil & Gas
Whole market+33.2%32.9%1.04−64.2%+430%0.10—
29
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+537%0.20—
30
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%-0.06—
31
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%-0.22—
32
VRIGInvesco Variable Rate Investment Grade ETF · Bonds
Whole market+4.7%1.3%3.51−13.1%+40.5%0.100.30%
33
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.150.48%
34
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%-0.020.40%
35
CSWCSW Industrials, Inc. · Industrial Products
Whole market+17.1%34.4%0.63−46.2%+867%0.24—
36
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%-0.04—
37
BALTInnovator Defined Wealth Shield ETF · Crypto
Whole market+6.3%3.3%1.85−4.9%—0.370.69%
38
CVXChevron Corporation · Integrated Oil & Gas
Whole market+19.5%25.2%0.84−55.8%+238%-0.09—
39
CATCaterpillar Inc. · Industrial Machinery
Whole market+31.1%31.9%1.01−43.4%+936%-0.11—
40
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.20—
41
VXUSVanguard Total International Stock ETF · International Equity
Whole market+8.2%16.4%0.57−36.0%+140%0.210.05%
42
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.5%23.0%0.71−35.1%+553%0.430.18%
43
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.2%29.4%1.13−54.9%+483%-0.04—
44
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.00—
45
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.33—
46
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.08—
47
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%0.08—
48
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%-0.06—
49
INSWInternational Seaways, Inc. · Oil & Gas
Whole market+56.5%40.5%1.31−57.4%—-0.28—
50
FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Financials
Whole market+6.0%2.3%2.55−21.0%+58.0%0.240.60%
51
APHAmphenol Corporation · Electronic Components
Whole market+33.8%32.2%1.07−37.5%+965%0.06—
52
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Whole market+12.1%13.7%0.90−36.8%+235%0.160.03%
53
RTXRTX Corporation · Aerospace & Defense
Whole market+18.6%24.3%0.83−52.0%+317%0.03—
54
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%-0.04—
55
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.11—
56
GSThe Goldman Sachs Group, Inc. · Capital Markets
Whole market+19.6%28.6%0.77−48.8%+521%0.28—
57
VEAVanguard FTSE Developed Markets ETF · Developed International Equity
Whole market+9.3%16.9%0.61−35.8%+153%0.220.03%
58
MSMorgan Stanley · Capital Markets
Whole market+16.0%28.8%0.66−51.3%+627%0.20—
59
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.07—
60
IBKRInteractive Brokers Group, Inc. · Investment Banking & Brokerage
Whole market+35.4%35.4%1.04−55.1%+935%0.23—
61
MFGMizuho Financial Group, Inc. · Banks
Whole market+33.6%30.6%1.10−45.7%+345%-0.11—
62
TJXThe TJX Companies, Inc. · Specialty Retail
Whole market+19.9%22.3%0.93−42.5%+361%0.02—
63
SCCOSouthern Copper Corporation · Metals & Mining
Whole market+32.0%40.7%0.89−55.3%+1,017%0.09—
64
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.110.40%
65
LINLinde plc · Chemicals
Whole market+11.5%20.9%0.63−32.6%+394%0.01—
66
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.500.09%
67
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+33.7%29.4%1.14−47.6%+474%-0.12—
68
PHParker-Hannifin Corporation · Industrial Machinery
Whole market+27.4%28.8%0.99−54.7%+789%0.05—
69
BHPBHP Group Limited · Metals & Mining
Whole market+16.6%31.4%0.65−44.3%+398%0.08—
70
CCitigroup Inc. · Banks
Whole market+15.1%29.4%0.63−56.5%+234%0.08—
71
BTIBritish American Tobacco p.l.c. · Tobacco
Whole market+18.7%22.0%0.90−56.1%+98.2%-0.10—
72
AXPAmerican Express Company · Consumer Finance
Whole market+13.5%29.3%0.58−49.6%+446%0.23—
73
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%-0.03—
74
CBChubb Limited · Property & Casualty Insurance
Whole market+15.7%20.4%0.82−42.6%+248%-0.08—
75
PWRQuanta Services, Inc. · Engineering & Construction
Whole market+39.3%37.2%1.08−45.5%+2,045%-0.01—
76
VRTXVertex Pharmaceuticals Incorporated · Biotechnology
Whole market+22.6%29.1%0.85−41.6%+521%0.09—
77
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%-0.25—
78
AZNAstraZeneca PLC · Pharmaceuticals
Whole market+8.7%35.7%0.41−28.7%+257%-0.15—
79
DINOHF Sinclair Corporation · Oil & Gas
Whole market+31.8%38.8%0.91−77.3%+649%0.06—
80
ETNEaton Corporation plc · Electrical Equipment
Whole market+20.4%32.1%0.74−44.5%+657%0.01—
81
BNYBank of New York Mellon Corp · Banks
Whole market+22.7%24.4%0.97−50.5%+341%0.21—
82
FLOTiShares Floating Rate Bond ETF · Floating Rate Bonds
Whole market+4.5%1.8%2.48−13.5%+35.9%0.040.15%
83
GLWCorning Inc · Electronic Components
Whole market+31.4%42.1%0.86−51.5%+616%-0.15—
84
CMCanadian Imperial Bank of Commerce · Banks
Whole market+19.2%21.6%0.93−47.3%+395%0.11—
85
VOVanguard Morningstar Mid-Cap ETF · US Mid-Cap Equity
Whole market+6.8%17.6%0.47−39.4%+198%0.270.03%
86
DEDeere & Company · Industrial Machinery
Whole market+14.4%29.9%0.60−37.9%+755%-0.11—
87
VIGVanguard Dividend Appreciation ETF · US Dividend Equity
Whole market+10.4%14.1%0.78−31.7%+258%0.280.04%
88
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.01—
89
TTTrane Technologies plc · Building Products
Whole market+22.7%27.7%0.88−40.5%+955%0.03—
90
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Whole market+16.4%17.1%0.98−58.1%+178%-0.04—
91
AEMAgnico Eagle Mines Limited · Gold Mining
Whole market+29.5%38.4%0.87−54.2%+352%0.14—
92
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.07—
93
SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity
Whole market+9.7%14.3%0.72−33.4%+252%0.130.06%
94
BMOBank of Montreal · Banks
Whole market+13.6%21.4%0.71−51.0%+295%0.06—
95
TAT&T Inc. · Integrated Telecommunications
Whole market+9.8%25.2%0.50−39.4%+60.7%0.22—
96
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.01—
97
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.14—
98
BNSThe Bank of Nova Scotia · Banks
Whole market+12.9%19.9%0.71−46.9%+187%0.22—
99
RIORio Tinto Group · Metals & Mining
Whole market+12.2%29.0%0.54−37.5%+464%0.00—
100
UNPUnion Pacific Corporation · Railroads
Whole market+7.1%22.9%0.42−38.7%+295%0.12—

NOW against its popular alternatives

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

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

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

10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%−40.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityNOW: 1.9% a year, volatility 45.5%SPY (S&P 500): 12.7% a year, volatility 17.1%BOX: 10.1% a year, volatility 33.3%SAP: 11.5% a year, volatility 30.0%MSFT: 12.5% a year, volatility 28.2%IBM: 16.6% a year, volatility 30.5%DOCU: −21.6% a year, volatility 58.8%SNOW: −0.9% a year, volatility 62.6%ORCL: 7.7% a year, volatility 44.3%PEGA: −10.9% a year, volatility 53.0%TEAM: −11.6% a year, volatility 63.9%APPN: −14.4% a year, volatility 62.5%GTLB: −12.2% a year, volatility 73.1%FIVN: −26.4% a year, volatility 57.9%ASAN: −39.3% a year, volatility 79.3%HUBS: −20.6% a year, volatility 57.6%MNDY: −22.8% a year, volatility 71.0%PATH: −23.6% a year, volatility 64.7%DDOG: 10.1% a year, volatility 59.7%DT: −3.6% a year, volatility 41.6%ACN: −5.2% a year, volatility 32.7%CTSH: −1.3% a year, volatility 30.2%WDAY: −5.9% a year, volatility 41.7%CRM: −3.2% a year, volatility 39.4%INTU: −9.4% a year, volatility 39.1%INFY: −9.6% a year, volatility 29.8%ADBE: −16.5% a year, volatility 38.1%NOWSPY (S&P 500)BOXSAPIBMDOCUSNOWORCLPEGATEAMAPPNGTLBFIVNASANHUBSMNDYPATHDDOGDTACNCTSHWDAYCRMINTUINFYADBE0.0%20.0%40.0%60.0%80.0%−40.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityNOW: 1.9% a year, volatility 45.5%SPY (S&P 500): 12.7% a year, volatility 17.1%BOX: 10.1% a year, volatility 33.3%SAP: 11.5% a year, volatility 30.0%MSFT: 12.5% a year, volatility 28.2%IBM: 16.6% a year, volatility 30.5%DOCU: −21.6% a year, volatility 58.8%SNOW: −0.9% a year, volatility 62.6%ORCL: 7.7% a year, volatility 44.3%PEGA: −10.9% a year, volatility 53.0%TEAM: −11.6% a year, volatility 63.9%APPN: −14.4% a year, volatility 62.5%GTLB: −12.2% a year, volatility 73.1%FIVN: −26.4% a year, volatility 57.9%ASAN: −39.3% a year, volatility 79.3%HUBS: −20.6% a year, volatility 57.6%MNDY: −22.8% a year, volatility 71.0%PATH: −23.6% a year, volatility 64.7%DDOG: 10.1% a year, volatility 59.7%DT: −3.6% a year, volatility 41.6%ACN: −5.2% a year, volatility 32.7%CTSH: −1.3% a year, volatility 30.2%WDAY: −5.9% a year, volatility 41.7%CRM: −3.2% a year, volatility 39.4%INTU: −9.4% a year, volatility 39.1%INFY: −9.6% a year, volatility 29.8%ADBE: −16.5% a year, volatility 38.1%NOWSPY (S&P 500)BOXIBMDOCUSNOWORCLPEGATEAMAPPNFIVNASANHUBSDDOGDTACNCTSHINTUINFYADBE
All figures
InvestmentAnnual returnVolatility
IBM International Business Machines Corporation+16.6%30.5%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
MSFT Microsoft Corporation+12.5%28.2%
SAP SAP SE+11.5%30.0%
BOX Box, Inc.+10.1%33.3%
DDOG Datadog, Inc.+10.1%59.7%
ORCL Oracle Corporation+7.7%44.3%
NOW This pageServiceNow, Inc.+1.9%45.5%
SNOW Snowflake Inc.−0.9%62.6%
CTSH Cognizant Technology Solutions Corporation−1.3%30.2%
CRM Salesforce, Inc.−3.2%39.4%
DT Dynatrace, Inc.−3.6%41.6%
ACN Accenture plc−5.2%32.7%
WDAY Workday, Inc.−5.9%41.7%
INTU Intuit Inc.−9.4%39.1%
INFY Infosys Limited−9.6%29.8%
PEGA Pegasystems Inc.−10.9%53.0%
TEAM Atlassian Corporation−11.6%63.9%
GTLB GitLab Inc.−12.2%73.1%
APPN Appian Corporation−14.4%62.5%
ADBE Adobe Inc.−16.5%38.1%
HUBS HubSpot, Inc.−20.6%57.6%
DOCU DocuSign, Inc.−21.6%58.8%
MNDY monday.com Ltd.−22.8%71.0%
PATH UiPath Inc.−23.6%64.7%
FIVN Five9, Inc.−26.4%57.9%
ASAN Asana, Inc.−39.3%79.3%
Open these 27 in EasyCompare

Has NOW consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than NOW over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
NOW ServiceNow, Inc. (this page)—+8.6%+42.8%+50.0%+1.4%−18.5%+37.8%+9.8%+848%45.5%0.27−64.5%—$155B—
BOX QualifiedBox, Inc.4/5 short2/3 long+24.2%+35.3%+74.4%+44.8%+26.2%+73.6%+61.5%+176%33.3%0.46−68.6%—$5.7B—
SAP QualifiedSAP SE3/5 short2/3 long+9.4%+44.6%+29.6%−2.1%−16.6%+81.3%+72.6%+205%30.0%0.52−52.5%—$267B—
DDOG QualifiedDatadog, Inc.3/5 short2/3 long+4.6%−2.6%+97.6%+91.7%+64.1%+198%+61.4%—59.7%0.45−68.1%—$92B—
MSFT Software - InfrastructureMicrosoft Corporation2/5 short3/3 long+6.0%+32.5%+27.7%+13.2%+3.8%+66.6%+80.3%+946%28.2%0.56−37.1%—$3.9T—
IBM Information Technology ServicesInternational Business Machines Corporation1/5 short2/3 long+4.3%+14.4%−3.3%−15.3%−12.5%+93.5%+116%+151%30.5%0.66−41.1%—$228B—
DOCU Software - ApplicationDocuSign, Inc.5/5 short1/3 long+17.1%+53.5%+68.3%+23.8%+13.6%+99.4%−70.4%—58.8%-0.11−87.6%—$15B—
SNOW Software - ApplicationSnowflake Inc.3/5 short1/3 long−5.8%+16.5%+112%+47.5%+30.1%+116%−4.3%—62.6%0.29−73.0%—$113B—
ORCL Software - InfrastructureOracle Corporation0/5 short1/3 long−11.4%+8.4%−25.6%−32.1%−52.1%+33.3%+45.1%+300%44.3%0.38−64.6%—$396B—
PEGA Software - ApplicationPegasystems Inc.0/5 short1/3 long+3.7%+14.7%−16.9%−35.0%−33.5%+85.1%−43.7%+140%53.0%0.04−79.2%—$6.0B—
TEAM Software - ApplicationAtlassian Corporation5/5 short0/3 long+13.0%+129%+209%+42.9%+39.2%+18.2%−46.0%+670%63.9%0.12−87.5%—$56B—
APPN Software - InfrastructureAppian Corporation5/5 short0/3 long+15.3%+71.0%+105%+30.7%+52.4%+8.4%−54.0%—62.5%0.06−92.0%—$3.2B—
GTLB Software - ApplicationGitLab Inc.5/5 short0/3 long+10.5%+61.4%+154%+52.0%+16.8%+24.1%−47.9%—73.1%0.18−85.2%—$9.2B—
DT Software - ApplicationDynatrace, Inc.4/5 short0/3 long+12.8%+42.3%+79.6%+50.3%+27.0%+37.4%−16.9%—41.6%0.12−61.8%—$18B—
ACN Information Technology ServicesAccenture plc3/5 short0/3 long+29.5%+66.5%+25.1%−4.8%+2.2%−13.6%−23.6%+146%32.7%0.00−67.8%—$146B—
FIVN Software - ApplicationFive9, Inc.3/5 short0/3 long−7.3%+33.5%+111%+82.4%+53.0%−42.9%−78.4%+141%57.9%-0.24−93.5%—$2.6B—
CTSH Information Technology ServicesCognizant Technology Solutions Corporation3/5 short0/3 long+14.8%+53.6%+14.6%−14.6%+4.5%+9.5%−6.2%+56.3%30.2%0.11−56.1%—$31B—
WDAY Software - ApplicationWorkday, Inc.2/5 short0/3 long+6.3%+38.6%+59.4%−0.9%−15.4%−3.4%−26.4%+132%41.7%0.06−63.4%—$49B—
ASAN Software - ApplicationAsana, Inc.2/5 short0/3 long+12.6%+41.3%+70.7%−17.1%−26.5%−41.5%−91.7%—79.3%-0.24−96.2%—$2.5B—
HUBS Software - ApplicationHubSpot, Inc.1/5 short0/3 long+17.2%+8.4%+9.1%−34.4%−44.5%−41.6%−68.5%+377%57.6%-0.11−80.0%—$13B—
CRM Software - ApplicationSalesforce, Inc.1/5 short0/3 long+2.5%+39.7%+30.7%−3.8%−3.9%+21.3%−14.8%+240%39.4%0.12−58.7%—$200B—
INTU Software - ApplicationIntuit Inc.1/5 short0/3 long+10.8%+14.6%−16.4%−46.0%−48.9%−32.1%−38.8%+237%39.1%-0.06−68.2%—$90B—
INFY Information Technology ServicesInfosys Limited1/5 short0/3 long+16.3%+11.9%−9.0%−28.7%−22.4%−18.0%−39.8%+110%29.8%-0.19−54.4%—$52B—
MNDY Software - Applicationmonday.com Ltd.1/5 short0/3 long+14.7%+31.4%+47.4%−29.7%−45.8%−23.6%−72.6%—71.0%-0.01−86.8%—$4.3B—
PATH Software - InfrastructureUiPath Inc.1/5 short0/3 long−1.2%+10.4%+27.2%−15.4%−15.7%−13.5%−74.0%—64.7%-0.09−89.0%—$7.0B—
ADBE Software - ApplicationAdobe Inc.0/5 short0/3 long+2.9%+9.4%+3.3%−23.0%−25.2%−52.5%−59.4%+135%38.1%-0.28−71.9%—$100B—
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How did NOW do year by year?

This table shows each investment's total return in every full calendar year since 2013, along with where NOW ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with NOW and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: NOW began trading on June 29, 2012, so the table starts with 2013, its first full calendar year, and cannot show how it fared during the dot-com bust, the 2008 financial crisis or two other sell-offs.

Newest year first. Green marks a year in which the fund came out ahead of NOW; gray means the two finished within a fraction of a point. The rank row places NOW among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of NOW2025202420232022202120202019201820172016201520142013
NOW This pageServiceNow, Inc.—−27.8%+50.0%+82.0%−40.2%+17.9%+95.0%+58.6%+36.5%+75.4%−14.1%+27.6%+21.2%+86.4%
Rank among alternativesTop quarter in 8 of 1320 of 265 of 265 of 2612 of 2613 of 236 of 213 of 195 of 183 of 1714 of 176 of 154 of 132 of 13
SPY S&P 500State Street SPDR S&P 500 ETF4 of 13+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%
BOX Box, Inc.4 of 10−5.3%+23.4%−17.7%+18.9%+45.1%+7.6%−0.6%−20.1%+52.4%−0.7%———
SAP SAP SE4 of 13−0.4%+61.3%+52.3%−24.2%+9.2%−1.3%+36.4%−10.0%+31.7%+11.1%+15.3%−18.6%+10.0%
DDOG Datadog, Inc.3 of 6−4.8%+17.7%+65.1%−58.7%+80.9%+161%———————
MSFT Microsoft Corporation5 of 13+15.6%+12.9%+58.2%−28.0%+52.5%+42.5%+57.6%+20.8%+40.8%+15.1%+22.7%+27.5%+44.3%
IBM International Business Machines Corporation3 of 13+38.2%+39.3%+21.9%+10.6%+16.6%−1.2%+23.6%−22.6%−4.9%+25.2%−11.4%−12.4%−0.2%
DOCU DocuSign, Inc.3 of 7−23.9%+51.3%+7.3%−63.6%−31.5%+200%+84.9%——————
SNOW Snowflake Inc.2 of 5+42.1%−22.4%+38.6%−57.6%+20.4%————————
ORCL Oracle Corporation5 of 13+18.1%+60.0%+30.9%−4.7%+36.9%+24.3%+19.4%−3.0%+24.9%+6.9%−17.6%+19.0%+15.7%
PEGA Pegasystems Inc.6 of 13+28.4%+91.0%+43.1%−69.3%−16.0%+67.5%+66.8%+1.8%+31.6%+31.5%+33.0%−15.1%+118%
TEAM Atlassian Corporation4 of 10−33.4%+2.3%+84.8%−66.3%+63.0%+94.3%+35.2%+95.5%+89.0%−20.0%———
APPN Appian Corporation2 of 8+7.4%−12.4%+15.7%−50.1%−59.8%+324%+43.0%−15.2%—————
GTLB GitLab Inc.0 of 4−33.4%−10.5%+38.6%−47.8%—————————
DT Dynatrace, Inc.3 of 6−20.3%−0.6%+42.8%−36.5%+39.5%+71.0%———————
ACN Accenture plc4 of 13−22.1%+1.9%+33.6%−34.8%+60.7%+26.0%+51.2%−6.2%+33.3%+14.3%+20.8%+11.4%+26.6%
FIVN Five9, Inc.4 of 11−50.7%−48.4%+16.0%−50.6%−21.3%+166%+50.0%+75.7%+75.3%+63.1%+94.2%——
CTSH Cognizant Technology Solutions Corporation3 of 13+9.7%+3.5%+34.4%−34.5%+9.6%+33.9%−1.1%−9.7%+27.6%−6.7%+14.0%+4.3%+36.7%
WDAY Workday, Inc.3 of 13−16.8%−6.5%+65.0%−38.8%+14.0%+45.7%+3.0%+57.0%+53.9%−17.1%−2.4%−1.9%+52.6%
ASAN Asana, Inc.1 of 5−32.4%+6.6%+38.0%−81.5%+152%————————
HUBS HubSpot, Inc.6 of 11−42.4%+20.0%+101%−56.1%+66.3%+150%+26.1%+42.2%+88.1%−16.5%+67.5%——
CRM Salesforce, Inc.4 of 13−20.2%+27.8%+98.5%−47.8%+14.2%+36.8%+18.7%+34.0%+49.3%−12.7%+32.2%+7.5%+31.3%
INTU Intuit Inc.4 of 13+6.1%+1.2%+61.8%−39.1%+70.3%+46.1%+34.1%+25.9%+39.2%+20.2%+5.9%+22.1%+29.7%
INFY Infosys Limited4 of 13−16.4%+23.1%+4.8%−27.3%+51.9%+68.3%+11.8%+21.8%+12.3%−9.6%+9.0%+13.6%+36.3%
MNDY monday.com Ltd.0 of 4−37.3%+25.4%+53.9%−60.5%—————————
PATH UiPath Inc.2 of 4+28.9%−48.8%+95.4%−70.5%—————————
ADBE Adobe Inc.3 of 13−21.3%−25.5%+77.3%−40.6%+13.4%+51.6%+45.8%+29.1%+70.2%+9.6%+29.2%+21.4%+58.9%
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Risk and diversification

How NOW 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 NOW's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents NOW's five deepest drawdowns since it began trading in 2012, 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.

Note: NOW began trading on June 29, 2012, so this list cannot include the dot-com bust, the 2008 financial crisis or two other sell-offs. The crash tests on this page show how older funds and the S&P 500 fared through those years.

Green means NOW fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringNOW fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
No named crash−64.5%+14.0%Jan 2025Apr 202615 monthsNot yet—
2022 bear market−51.3%−22.3%Nov 2021Oct 202211 monthsDec 202314 months
2015 China and oil sell-off−47.6%−11.0%Dec 2015Feb 20162 monthsJan 201711 months
No named crash−35.4%+1.6%Sep 2012Jan 20134 monthsApr 20133 months
No named crash−34.5%+0.1%Mar 2014Apr 20141 monthJan 20159 months

How did NOW do in stock market crashes?

This section measures how far NOW, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: NOW began trading on June 29, 2012, so its row reads "Not yet trading" for the dot-com bust, the 2008 financial crisis or two other sell-offs. The older alternatives and the S&P 500 show how those crashes played out.

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

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
NOW This pageServiceNow, Inc.—−7.2%−39.9%−28.8%−20.6%−8.5%−47.6%Not yet tradingNot yet tradingNot yet tradingNot yet trading
SPY S&P 500State Street SPDR S&P 500 ETF5 of 6−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
BOX Box, Inc.3 of 6−5.7%−29.9%−46.0%−34.3%−8.9%−40.3%————
SAP SAP SE3 of 6−2.0%−41.9%−32.6%−25.0%−6.9%−13.3%−25.0%−1.4%−49.6%−87.9%
DDOG Datadog, Inc.0 of 3−9.5%−53.0%−38.8%———————
MSFT Microsoft Corporation6 of 6−2.0%−31.0%−27.7%−18.2%−7.4%−14.4%−14.1%−2.6%−57.9%−62.9%
IBM International Business Machines Corporation4 of 6−2.0%−16.7%−37.3%−29.1%−6.3%−23.3%−14.6%−1.5%−44.3%−58.3%
DOCU DocuSign, Inc.1 of 4−24.3%−71.2%−24.9%−29.9%——————
SNOW Snowflake Inc.0 of 2−7.8%−64.1%————————
ORCL Oracle Corporation5 of 6−5.0%−31.0%−28.3%−17.2%−6.6%−16.1%−23.9%−2.1%−41.1%−84.2%
PEGA Pegasystems Inc.3 of 6−6.6%−72.2%−38.3%−30.3%−7.7%−31.1%−35.7%−0.8%−32.6%−91.7%
TEAM Atlassian Corporation2 of 5−12.4%−53.1%−21.4%−30.2%−7.3%—————
APPN Appian Corporation1 of 5−7.4%−40.7%−49.7%−33.1%−4.0%—————
GTLB GitLab Inc.0 of 2−11.3%−57.9%————————
DT Dynatrace, Inc.0 of 3−9.2%−46.9%−45.3%———————
ACN Accenture plc4 of 6−4.7%−37.3%−33.5%−22.6%−4.1%−14.9%−22.7%−1.9%−35.7%—
FIVN Five9, Inc.2 of 6−7.2%−60.5%−28.3%−20.5%−4.2%−29.6%————
CTSH Cognizant Technology Solutions Corporation4 of 6−5.8%−38.6%−40.6%−22.4%−3.2%−25.3%−26.7%−2.5%−65.5%−71.3%
WDAY Workday, Inc.4 of 6−2.8%−47.0%−42.4%−17.3%−5.8%−42.3%————
ASAN Asana, Inc.0 of 2−9.5%−77.5%————————
HUBS HubSpot, Inc.1 of 6−8.4%−53.8%−47.3%−24.8%−6.8%−53.8%————
CRM Salesforce, Inc.3 of 6−5.3%−42.7%−35.7%−24.8%−6.1%−34.2%−26.9%−4.2%−70.5%—
INTU Intuit Inc.3 of 6−6.0%−42.7%−36.3%−20.8%−6.5%−24.8%−18.0%−3.4%−38.3%−66.0%
INFY Infosys Limited5 of 6−4.9%−35.9%−39.1%−12.7%−3.6%−17.3%−25.9%−0.6%−60.9%−90.0%
MNDY monday.com Ltd.0 of 2−12.9%−68.7%————————
PATH UiPath Inc.0 of 2−10.1%−72.3%————————
ADBE Adobe Inc.4 of 6−6.2%−50.3%−25.6%−25.5%−5.4%−22.7%−23.6%−0.2%−66.7%−79.9%
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How closely does NOW 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 NOW with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than NOW's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
NOW This pageServiceNow, Inc.114%79%1.450.97
MSFT Microsoft Corporation127%91%1.390.96
TEAM Atlassian Corporation130%132%0.991.03
ORCL Oracle Corporation131%159%0.821.30
HUBS HubSpot, Inc.121%149%0.811.46
CRM Salesforce, Inc.115%143%0.801.16
INTU Intuit Inc.99%126%0.791.03
PEGA Pegasystems Inc.87%113%0.771.05
SAP SAP SE112%152%0.741.10
FIVN Five9, Inc.85%114%0.741.05
IBM International Business Machines Corporation89%121%0.730.95
BOX Box, Inc.98%141%0.701.01
WDAY Workday, Inc.96%139%0.701.19
INFY Infosys Limited85%126%0.670.90
ADBE Adobe Inc.123%184%0.671.24
ACN Accenture plc117%186%0.631.12
CTSH Cognizant Technology Solutions Corporation89%152%0.590.99
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What diversifies NOW?

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 NOW's. Because such investments tend not to fall at the same time, pairing NOW with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which NOW lost money. The last two columns show a portfolio that is 80% NOW and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe20252022201680/20 mix volatility80/20 mix annual return
NOW ServiceNow, Inc. (this page)1.00+9.8%0.27−27.8%−40.2%−14.1%40.5%+1.5%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF-0.02+119%1.48+27.1%+3.8%—32.4%+5.7%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.15+225%1.34+32.8%+6.0%+1.1%32.9%+7.5%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund-0.01+101%1.04+9.7%+10.4%+29.8%32.5%+5.6%
HDV Dividend & IncomeiShares Core High Dividend ETF0.03+83.3%1.00+11.9%+7.1%+15.9%32.6%+4.9%
SMH TechnologyVanEck Semiconductor ETF0.20+323%0.97+49.2%−33.5%+35.6%34.4%+9.8%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.17+85.0%0.96+23.1%−5.1%+6.3%32.8%+5.1%
GLD CommoditiesSPDR Gold Shares0.11+126%0.96+63.7%−0.8%+8.0%32.9%+6.0%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.26+136%0.93+26.6%−10.4%+7.4%33.7%+6.5%

Stocks

InvestmentCorrelation5Y returnSharpe20252022201680/20 mix volatility80/20 mix annual return
NOW ServiceNow, Inc. (this page)1.00+9.8%0.27−27.8%−40.2%−14.1%40.5%+1.5%
CAH Medical - DistributionCardinal Health, Inc.0.05+479%1.55+76.3%+54.1%−17.5%33.1%+9.7%
CLS Hardware, Equipment & PartsCelestica Inc.0.11+3,143%1.47+220%+1.3%+7.4%35.5%+21.4%
FIX Engineering & ConstructionComfort Systems USA, Inc.-0.04+1,636%1.46+121%+17.0%+18.3%33.3%+18.3%
MCK Medical - DistributionMcKesson Corporation0.08+413%1.44+44.5%+51.8%−28.3%33.2%+9.1%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.08+690%1.41+19.2%+86.6%+0.7%33.5%+11.6%
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Common questions

What was NOW's worst drawdown?

NOW's deepest decline since it began trading in 2012 was 64.5%, from January 2025 to April 2026. It has not yet climbed back to that peak. Because NOW launched in June 2012, that record does not include the dot-com bust, the 2008 financial crisis or two other sell-offs.

What were NOW's best and worst years?

Over 13 full calendar years, NOW's best year was 2020, when it returned 95.0%. Its worst was 2022, with a return of -40.2%.

Is there a better investment than NOW?

Among NOW's popular alternatives, SAP, MSFT and IBM earned more than NOW with less volatility over the past 5 years. SAP returned 11.5% a year at 30.0% volatility, against 1.9% a year at 45.5%. Looking beyond its popular alternatives, UMC (semiconductors) and PTC (application software) earned more than NOW with less volatility over the past 5 years. UMC returned 19.9% a year at 43.2% volatility, against 1.9% a year at 45.5%.

Is NOW more volatile than the S&P 500?

Yes. NOW's volatility over the past 5 years was 45.5%, 2.7 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, NOW's return lands within 45.5% 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 NOW's Sharpe ratio?

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

Over the past 5 years, NOW's monthly returns had a correlation of 0.38 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against NOW instead: the lower it is, the more that option would diversify a NOW holding.

What are the best alternatives to NOW?

Of the 25 popular alternatives we compared, three outperformed NOW in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: BOX, SAP and DDOG.

Did NOW outperform the S&P 500?

NOW finished ahead of the S&P 500 (SPY) in nine of 13 full calendar years. In 2025, it returned -27.7%, against +17.7% for the index.

How did NOW do in stock market crashes?

NOW fell less than the S&P 500 (SPY) in one of the six major crashes it has traded through, and further in five. The clearest case was the 2015 China and oil sell-off, when NOW fell 47.6% and the S&P 500 fell 12.8%.

What diversifies NOW?

These had a low correlation with NOW over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation -0.02), DXJ (correlation 0.15) and EMLP (correlation -0.01); among large stocks, CAH (correlation 0.05), CLS (correlation 0.11) and FIX (correlation -0.04). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to NOW