# How Pfizer (PFE) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/pfe
> 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 PFE alone. It places PFE (Pfizer 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 PFE stands in the market, and of the alternatives worth a closer look.

Period covered: PFE'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:** PFE is 36.5% below its high, bear-market territory, while the S&P 500 sits 1.3% below a record. That said, over the past 3 months, PFE rose 23.8% against 3.9% for the S&P 500 and 3.2% for the Nasdaq 100.
- **Stock or market?:** More than an industry move: PFE rose 23.8% over the past 3 months, against 5.0% for the pharmaceuticals ETF IHE (iShares U.S. Pharmaceuticals ETF). The S&P 500 rose 3.9%. PFE rose 8.5% last month as the S&P 500 fell 0.6% and the Nasdaq 100 fell 3.2%.
- **Past 1 to 3 years:** PFE has outpaced the market, rising 30.5% over the past year against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. Even so, the last two calendar years both went the same way: PFE rose 0.6% in 2025, against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100.
- **Long term:** PFE turned $10,000 into $15,500 over the past decade, against $42,100 in the S&P 500. PFE finished ahead of the S&P 500 in ten of its 29 calendar years.
- **In a crash:** PFE fell less than the S&P 500 in five of seven sell-offs, but the 2015 China and oil sell-off broke the pattern: it fell 18.2%, more than the S&P 500's 12.8%.
- **Diversification:** Against the S&P 500, PFE has a correlation of 0.21 over 5 years, less closely than 84% of stocks worth at least $300 million. Next to an index fund it is a real diversifier. PFE moves far less with the S&P 500 than it used to, with a correlation of 0.21 over the past 5 years against 0.53 in the 5 years before.
- **Better options**
  - **Popular alternatives:** TAK (Takeda Pharmaceutical), ABBV (AbbVie) and JNJ (Johnson & Johnson) earned more than PFE with less volatility over the past 5 years. TAK returned 11.9% a year at 19.4% volatility, against a loss of 1.7% a year at 25.4%.
  - **Nearby categories and themes:** RPRX (Royalty Pharma, pharmaceuticals) and BDX (Becton, Dickinson and Company, medical devices) earned more than PFE with less volatility over the past 5 years. RPRX returned 13.3% a year at 23.8% volatility, against a loss of 1.7% a year at 25.4%.
  - **Whole market:** 1,054 of the 3,633 stocks and funds worth at least $500 million earned more than PFE with less volatility over the past 5 years, among them VTI (Vanguard Morningstar Total Stock Market ETF), VOO (Vanguard S&P 500 ETF) and BRK-B (Berkshire Hathaway).

## How much would $10,000 in PFE have grown?

This chart tracks a hypothetical $10,000 investment in PFE over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of PFE over the same span and PFE's popular alternatives, among those that traded for the entire period.

- $10,000 invested in PFE at the end of September 1997 would have grown to $42,379 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- Seven of the eight other investments on the chart ended ahead of PFE, and GILD finished highest, at $1,571,438.

## PFE 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.

- PFE is still 36.5% below its all-time high.
- PFE's deepest decline since it began trading in 1986 was 69.3%, from April 1999 to March 2009. It took about five years from the low to climb back to its old high.
- Over 29 full calendar years, PFE's best was 1997, when it returned 82.0%, and its worst was 2023, when it lost 41.3%. It lost money in 11 of those years.

- Type: Stock, Healthcare (Drug Manufacturers - General)
- Trading since: October 17, 1986
- Market value: $172B
- Volatility (5 years): 25.4%; Sharpe ratio: 0.06
- Worst decline ever: −69.3%, from April 12, 1999 to March 2, 2009; back at its high by November 13, 2013

| Period | PFE total return |
| --- | --- |
| 1 month | +8.5% |
| 3 months | +23.8% |
| 6 months | +13.2% |
| year to date | +25.7% |
| 1 year | +30.5% |
| 3 years | +19.2% |
| 5 years | −8.3% |
| 10 years | +55.0% |

## PFE against the whole market

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

### How does PFE rank among all stocks?

This section ranks PFE on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- PFE is among the steadier stocks: its price swings rank in the top 12% of the 2,893 stocks worth at least $300 million, where the top is the calmest.
- On return for the risk taken (the Sharpe ratio), PFE ranks in the bottom 23% of the 2,893 stocks worth at least $300 million.

| Measure | PFE | Rank |
| --- | --- | --- |
| 1-year return | +30.5% | 961 of 3,287 (top 30%) |
| 3-year return | +19.2% | 2,036 of 3,017 (top 68%) |
| 5-year return | −8.3% | 1,842 of 2,893 (top 64%) |
| 10-year return | +55.0% | 1,559 of 2,202 (top 71%) |
| Volatility, 5 years | 25.4% | 361 of 2,893 (top 13%) |
| Sharpe ratio, 5 years | 0.06 | 2,222 of 2,893 (top 77%) |
| Worst decline, past 10 years | −58.9% | 838 of 2,187 (top 39%) |

### What has beaten PFE 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).

- 203 stocks and 851 ETFs worth at least $500 million sit in the green region: each earned more than PFE over the past 5 years with smaller price swings. That is 29% of the 3,633 screened.
- Among those with at least half PFE's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 25% less than PFE's 25.4%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.06 for PFE.
- Among PFE's popular alternatives, ABBV, NVS and JNJ are in the region. ABBV earned 26.1% a year against a loss of 1.7% a year for PFE, at 23.4% volatility, 8% less than PFE's 25.4%.

### Is there a better investment than PFE?

The table below lists investments that beat PFE 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 PFE's popular alternatives, TAK, ABBV and JNJ earned more than PFE with less volatility over the past 5 years. TAK returned 11.9% a year at 19.4% volatility, against a loss of 1.7% a year at 25.4%.
- Looking beyond its popular alternatives, RPRX (pharmaceuticals) and BDX (medical devices) earned more than PFE with less volatility over the past 5 years. RPRX returned 13.3% a year at 23.8% volatility, against a loss of 1.7% a year at 25.4%.
- Across the whole market, 1,054 of the 3,633 stocks and funds worth at least $500 million earned more than PFE with less volatility over the past 5 years, among them VTI, VOO and BRK-B.

The 15 strongest of 1,054 investments that beat PFE 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 PFE | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| PFE: Pfizer Inc. (this page) |  | −1.7% | 25.4% | 0.06 | −58.9% | +55.0% |  |  |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | Food & Beverages | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.18 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [TD](https://easycompare.io/research/td): The Toronto-Dominion Bank | Banks | +15.8% | 20.0% | 0.84 | −42.0% | +310% | 0.01 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [TRV](https://easycompare.io/research/trv): The Travelers Companies, Inc. | Property & Casualty Insurance | +22.4% | 22.3% | 1.02 | −46.3% | +347% | 0.03 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [BNS](https://easycompare.io/research/bns): The Bank of Nova Scotia | Banks | +12.9% | 19.9% | 0.71 | −46.9% | +187% | 0.17 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| SDCI: USCF SummerHaven Dynamic Commodity Strategy No K-1 Fund | Bonds | +20.6% | 18.4% | 1.12 | −45.7% | — | 0.16 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [SLF](https://easycompare.io/research/slf): Sun Life Financial Inc. | Life Insurance | +11.7% | 19.4% | 0.67 | −50.8% | +255% | -0.01 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| VLUE: iShares MSCI USA Value Factor ETF | US Large-Cap Value | +15.9% | 18.4% | 0.90 | −39.5% | +286% | 0.22 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| SEIC: SEI Investments Company | Asset Management | +12.7% | 22.3% | 0.65 | −51.8% | +168% | 0.20 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| FLRT: Pacer Aristotle Pacific Floating Rate High Income ETF | Financials | +6.0% | 2.3% | 2.55 | −21.0% | +58.0% | -0.15 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | Gold | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.26 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| THG: The Hanover Insurance Group, Inc. | Property & Casualty Insurance | +14.4% | 22.9% | 0.70 | −40.1% | +291% | 0.03 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| IEX: IDEX Corporation | Industrial Machinery | +2.7% | 24.0% | 0.23 | −35.5% | +205% | 0.19 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [SGOV](https://easycompare.io/research/sgov): iShares 0-3 Month Treasury Bond ETF | Treasury Bonds | +3.8% | 0.3% | 13.25 | −0.3% | — | -0.17 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| PDBC: Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | Broad Commodities | +11.7% | 19.3% | 0.67 | −40.7% | +153% | 0.14 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| RPRX: Royalty Pharma plc | Pharmaceuticals | +13.3% | 23.8% | 0.65 | −49.7% | — | 0.25 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## PFE against its popular alternatives

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

### How do PFE'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.

- 11 of the 24 popular alternatives, led by MCK, ABBV and GILD, were both more rewarding and calmer than PFE over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, PFE returned -1.7% a year, less than the S&P 500's 12.7%, with higher volatility (25.4% against 17.1%).

### Has PFE consistently beaten its popular alternatives?

This section compares PFE with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Seven of the 24 popular alternatives, led by AMGN, LLY and ABBV, outperformed PFE in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- AMGN outperformed PFE in every long-term period and in all but one short-term period, the most consistent record in the group.
- MCK, LLY and ABBV earned more for the risk they took than PFE (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 PFE | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| PFE: Pfizer Inc. (this page) | +30.5% | +19.2% | −8.3% | +55.0% |  |  | 0.06 |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | +48.7% | +72.2% | +145% | +266% | 4/5 short-term, 3/3 long-term | all-weather | 0.85 |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | +59.7% | +124% | +451% | +1,807% | 3/5 short-term, 3/3 long-term | consistent | 1.21 |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | +28.3% | +118% | +218% | +603% | 3/5 short-term, 3/3 long-term | consistent | 1.11 |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | +76.8% | +58.3% | +113% | +241% | 3/5 short-term, 3/3 long-term | consistent | 0.74 |
| [TEVA](https://easycompare.io/research/teva): Teva Pharmaceutical Industries Limited | +110% | +403% | +303% | −3.6% | 4/5 short-term, 2/3 long-term | consistent | 0.86 |
| VTRS: Viatris Inc. | +87.1% | +127% | +64.3% | −38.0% | 4/5 short-term, 2/3 long-term | consistent | 0.47 |
| [TAK](https://easycompare.io/research/tak): Takeda Pharmaceutical Company Limited | +48.2% | +56.1% | +75.1% | +30.4% | 3/5 short-term, 2/3 long-term | consistent | 0.68 |
| [MCK](https://easycompare.io/research/mck): McKesson Corporation | +31.3% | +131% | +413% | +586% | 2/5 short-term, 3/3 long-term |  | 1.44 |
| [TMO](https://easycompare.io/research/tmo): Thermo Fisher Scientific Inc. | +26.8% | +49.5% | +15.1% | +366% | 2/5 short-term, 3/3 long-term |  | 0.24 |
| [IQV](https://easycompare.io/research/iqv): IQVIA Holdings Inc. | +26.3% | +45.3% | +6.5% | +260% | 2/5 short-term, 3/3 long-term |  | 0.21 |
| [GILD](https://easycompare.io/research/gild): Gilead Sciences, Inc. | +30.3% | +121% | +180% | +200% | 2/5 short-term, 3/3 long-term |  | 0.95 |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | +36.9% | +84.6% | +82.1% | +196% | 2/5 short-term, 3/3 long-term |  | 0.76 |
| [VRTX](https://easycompare.io/research/vrtx): Vertex Pharmaceuticals Incorporated | +22.8% | +42.2% | +177% | +521% | 1/5 short-term, 3/3 long-term |  | 0.85 |
| [BMY](https://easycompare.io/research/bmy): Bristol-Myers Squibb Company | +47.8% | +25.8% | +30.6% | +74.8% | 1/5 short-term, 3/3 long-term |  | 0.34 |
| [AZN](https://easycompare.io/research/azn): AstraZeneca PLC | +1.8% | +38.8% | +52.1% | +257% | 0/5 short-term, 3/3 long-term |  | 0.41 |
| [NVS](https://easycompare.io/research/nvs): Novartis AG | +18.8% | +75.9% | +121% | +226% | 0/5 short-term, 3/3 long-term |  | 0.87 |
| [GSK](https://easycompare.io/research/gsk): GSK plc | +18.9% | +60.0% | +57.2% | +95.1% | 0/5 short-term, 3/3 long-term |  | 0.49 |
| [REGN](https://easycompare.io/research/regn): Regeneron Pharmaceuticals, Inc. | +40.7% | +0.8% | +44.9% | +120% | 1/5 short-term, 2/3 long-term |  | 0.40 |
| [SNY](https://easycompare.io/research/sny): Sanofi | −13.4% | −10.0% | +3.0% | +61.5% | 0/5 short-term, 2/3 long-term |  | 0.15 |
| [DHR](https://easycompare.io/research/dhr): Danaher Corporation | +8.3% | +10.8% | −17.6% | +232% | 1/5 short-term, 1/3 long-term |  | 0.01 |
| [NVO](https://easycompare.io/research/nvo): Novo Nordisk A/S | −28.5% | −57.0% | −18.5% | +134% | 0/5 short-term, 1/3 long-term |  | 0.09 |
| BIIB: Biogen Inc. | +65.8% | −5.6% | −8.8% | −18.9% | 4/5 short-term, 0/3 long-term |  | 0.11 |
| OGN: Organon & Co. | +50.1% | −2.8% | −53.1% | — | 3/5 short-term, 0/3 long-term |  | -0.09 |
| BNTX: BioNTech SE | −15.5% | +0.3% | −65.7% | — | 0/5 short-term, 0/3 long-term |  | -0.15 |

### How did PFE do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where PFE ranked among its popular alternatives each year.

- PFE finished ahead of the S&P 500 in ten of its 29 full calendar years, and behind it in each of the last three.
- Ranked against its popular alternatives each year, PFE finished in the top quarter in six of 29 years and in the bottom quarter in nine. In 2025, it ranked 20 of 25.
- Among its popular alternatives, ABBV came out ahead of PFE most often, in ten of the 13 years both traded.

| Year | PFE | SPY |
| --- | --- | --- |
| 2025 | +0.6% | +17.7% |
| 2024 | −2.2% | +24.9% |
| 2023 | −41.3% | +26.2% |
| 2022 | −10.4% | −18.2% |
| 2021 | +66.7% | +28.7% |
| 2020 | +3.4% | +18.3% |
| 2019 | −6.7% | +31.2% |
| 2018 | +25.1% | −4.6% |
| 2017 | +16.1% | +21.7% |
| 2016 | +4.4% | +12.0% |

## Risk and diversification

How PFE 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 PFE's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all three of PFE's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: PFE fell 58.9% from December 2021 to April 2025, while the S&P 500 rose 18.3%.
- The slowest recovery came after PFE fell 69.3% from April 1999 to March 2009; it did not regain that peak until November 2013, five years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −69.3% | April 12, 1999 | March 2, 2009 | November 13, 2013 | −39.2% | dot-com bust |
| −58.9% | December 16, 2021 | April 10, 2025 | not yet | +18.3% | 2022 bear market |
| −44.9% | August 13, 1987 | December 15, 1987 | November 10, 1989 | — |  |
| −35.2% | January 9, 1992 | February 22, 1993 | January 18, 1995 | — |  |
| −35.2% | November 30, 2018 | March 23, 2020 | December 2, 2020 | −16.6% | late-2018 sell-off |

### How did PFE do in stock market crashes?

This section measures how far PFE, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- Among its popular alternatives, AMGN held up best, falling less than PFE in seven of the ten crashes they both traded through.
- PFE fell less than the S&P 500 in six of the ten crashes it has traded through. The clearest case was the Covid crash, when PFE fell 21.8% and the S&P 500 fell 33.7%.

| Crash | Dates | PFE fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −46.0% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −49.8% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −1.8% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −16.1% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −18.2% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −8.1% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −12.3% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −21.8% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −24.6% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −1.8% | −3.4% |

### How closely does PFE 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.

- 18 of the 22 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than PFE's 0.65, led by LLY, MCK and VRTX.
- LLY took just 6% of the S&P 500's losses, against 81% for PFE, while still keeping 101% of its gains.
- Over the past 10 years, PFE captured 52% of the S&P 500's gains in rising months and 81% of its losses in falling months, with a beta of 0.54. 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 |
| --- | --- | --- | --- |
| PFE: Pfizer Inc. (this page) | 52.0% | 81.0% | 0.54 |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | 74.0% | 64.0% | 0.54 |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | 101% | 6.0% | 0.37 |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | 92.0% | 57.0% | 0.54 |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | 64.0% | 46.0% | 0.30 |
| [TEVA](https://easycompare.io/research/teva): Teva Pharmaceutical Industries Limited | 55.0% | 116% | 1.11 |
| VTRS: Viatris Inc. | 74.0% | 179% | 1.14 |
| [TAK](https://easycompare.io/research/tak): Takeda Pharmaceutical Company Limited | 34.0% | 58.0% | 0.44 |
| [MCK](https://easycompare.io/research/mck): McKesson Corporation | 72.0% | 27.0% | 0.56 |
| [TMO](https://easycompare.io/research/tmo): Thermo Fisher Scientific Inc. | 104% | 104% | 0.81 |
| [IQV](https://easycompare.io/research/iqv): IQVIA Holdings Inc. | 128% | 167% | 1.31 |
| [GILD](https://easycompare.io/research/gild): Gilead Sciences, Inc. | 52.0% | 36.0% | 0.35 |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | 64.0% | 53.0% | 0.46 |
| [VRTX](https://easycompare.io/research/vrtx): Vertex Pharmaceuticals Incorporated | 87.0% | 50.0% | 0.46 |
| [BMY](https://easycompare.io/research/bmy): Bristol-Myers Squibb Company | 55.0% | 75.0% | 0.41 |
| [AZN](https://easycompare.io/research/azn): AstraZeneca PLC | 60.0% | 39.0% | 0.39 |
| [NVS](https://easycompare.io/research/nvs): Novartis AG | 69.0% | 64.0% | 0.49 |
| [GSK](https://easycompare.io/research/gsk): GSK plc | 51.0% | 61.0% | 0.52 |
| [REGN](https://easycompare.io/research/regn): Regeneron Pharmaceuticals, Inc. | 55.0% | 66.0% | 0.19 |
| [SNY](https://easycompare.io/research/sny): Sanofi | 53.0% | 74.0% | 0.46 |
| [DHR](https://easycompare.io/research/dhr): Danaher Corporation | 84.0% | 84.0% | 0.75 |
| [NVO](https://easycompare.io/research/nvo): Novo Nordisk A/S | 75.0% | 94.0% | 0.60 |
| BIIB: Biogen Inc. | 35.0% | 91.0% | 0.28 |

### What diversifies PFE?

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 PFE into CAH would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (-2.9% for PFE alone, +5.3% for the mix).
- FIX made money in eight of the 11 calendar years in which PFE lost money.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of PFE over the past 5 years, with correlations of 0.25 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with PFE | 5Y return | Volatility | Sharpe | Rose in PFE's 11 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.25 | +119% | 11.1% | 1.48 | 4 of 11 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.02 | +225% | 19.1% | 1.34 | 4 of 11 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.17 | +101% | 14.5% | 1.04 | 4 of 11 |
| HDV: iShares Core High Dividend ETF | 0.36 | +83.3% | 13.0% | 1.00 | 4 of 11 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.15 | +323% | 36.9% | 0.97 | 5 of 11 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.16 | +85.0% | 13.8% | 0.96 | 3 of 11 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.26 | +126% | 18.9% | 0.96 | 6 of 11 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.07 | +136% | 20.8% | 0.93 | 3 of 11 |

## Common questions

### What was PFE's worst drawdown?

PFE's deepest decline since it began trading in 1986 was 69.3%, from April 1999 to March 2009. It took about five years from the low to climb back to its old high.

### What were PFE's best and worst years?

Over 29 full calendar years, PFE's best year was 1997, when it returned 82.0%. Its worst was 2023, with a return of -41.3%.

### Is there a better investment than PFE?

Among PFE's popular alternatives, TAK, ABBV and JNJ earned more than PFE with less volatility over the past 5 years. TAK returned 11.9% a year at 19.4% volatility, against a loss of 1.7% a year at 25.4%. Looking beyond its popular alternatives, RPRX (pharmaceuticals) and BDX (medical devices) earned more than PFE with less volatility over the past 5 years. RPRX returned 13.3% a year at 23.8% volatility, against a loss of 1.7% a year at 25.4%.

### Is PFE more volatile than the S&P 500?

Yes. PFE's volatility over the past 5 years was 25.4%, 1.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, PFE's return lands within 25.4% 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 PFE's Sharpe ratio?

PFE's Sharpe ratio over the past 5 years was 0.06, against 0.79 for the S&P 500, so PFE 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 PFE with the S&P 500?

Over the past 5 years, PFE's monthly returns had a correlation of 0.21 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 PFE instead: the lower it is, the more that option would diversify a PFE holding.

### What are the best alternatives to PFE?

Of the 24 popular alternatives we compared, seven outperformed PFE in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: AMGN, LLY and ABBV.

### Did PFE outperform the S&P 500?

PFE finished ahead of the S&P 500 (SPY) in ten of 29 full calendar years. In 2025, it returned +0.6%, against +17.7% for the index.

### How did PFE do in stock market crashes?

PFE fell less than the S&P 500 (SPY) in six of the ten major crashes it has traded through, and further in two. The clearest case was the Covid crash, when PFE fell 21.8% and the S&P 500 fell 33.7%.

### What diversifies PFE?

These had a low correlation with PFE over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.25), DXJ (correlation 0.02) and EMLP (correlation 0.17); among large stocks, CAH (correlation -0.11), CLS (correlation -0.02) and FIX (correlation -0.01). A correlation near zero means the two have moved largely independently.

## More research

- [Amgen (AMGN) Performance, Alternatives and Market Rank](https://easycompare.io/research/amgn)
- [Eli Lilly and Company (LLY) Performance, Alternatives and Market Rank](https://easycompare.io/research/lly)
- [AbbVie (ABBV) Performance, Alternatives and Market Rank](https://easycompare.io/research/abbv)
- [Merck & Co., Inc. (MRK) Performance, Alternatives and Market Rank](https://easycompare.io/research/mrk)
- [Teva Pharmaceutical Industries (TEVA) Performance, Alternatives and Market Rank](https://easycompare.io/research/teva)
- [Takeda Pharmaceutical (TAK) Performance, Alternatives and Market Rank](https://easycompare.io/research/tak)
- [McKesson (MCK) Performance, Alternatives and Market Rank](https://easycompare.io/research/mck)
- [Thermo Fisher Scientific (TMO) Performance, Alternatives and Market Rank](https://easycompare.io/research/tmo)
- [IQVIA (IQV) Performance, Alternatives and Market Rank](https://easycompare.io/research/iqv)
- [Gilead Sciences (GILD) Performance, Alternatives and Market Rank](https://easycompare.io/research/gild)
- [Johnson & Johnson (JNJ) Performance, Alternatives and Market Rank](https://easycompare.io/research/jnj)
- [Vertex Pharmaceuticals (VRTX) Performance, Alternatives and Market Rank](https://easycompare.io/research/vrtx)

## Explore further

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