# How Prologis (PLD) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/pld
> 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 PLD alone. It places PLD (Prologis, Inc.) against 15 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 PLD stands in the market, and of the alternatives worth a closer look.

Period covered: PLD's full trading record, from November 1997 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** Over the past 6 months, PLD fell 10.8% while the S&P 500 rose 9.1%.
- **Stock or market?:** The weakness is PLD's own: it fell 12.9% over the past 3 months while the industrial reits ETF VNQ (Vanguard Real Estate ETF) fell 6.4%. The S&P 500 rose 3.9%. Its industrial reit peers did not move as one over the past 3 months: REXR (Rexford Industrial Realty) rose 1.7%, while LINE (Lineage) fell 19.1%.
- **Past 1 to 3 years:** PLD has trailed the market, rising 3.4% over the past year against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (37.1% against 89.3%).
- **Long term:** PLD turned $10,000 into $32,100 over the past decade, against $42,100 in the S&P 500. On the flip side, over the past decade, only EGP (EastGroup Properties) of its industrial reit peers outpaced PLD.
- **In a crash:** Across seven sell-offs, PLD has typically fallen 1.3 times as far as the S&P 500. The 2022 bear market took 42.1% off PLD, against 24.5% for the S&P 500. That was more than EGP (EastGroup Properties, 36.5%) but less than LXP (LXP Industrial Trust, 44.3%).
- **Diversification:** Against the S&P 500, PLD has a correlation of 0.69 over 5 years, more closely than 98% of stocks worth at least $300 million. Next to an index fund it is more of the same, not a cushion. Over 10 years, PLD's beta versus the S&P 500 was 1.04: in the S&P 500's rising months it gained 1.0 times as much as the index, and in falling months it lost 1.2 times as much.
- **Better options**
  - **Nearby categories and themes:** PSA (Public Storage, self-storage reits) and WPC (W. P. Carey, net lease reits) earned more than PLD with less volatility over the past 5 years. PSA returned 3.2% a year at 24.1% volatility, against 0.6% a year at 27.2%.
  - **Versus the S&P 500:** Simply owning the S&P 500 would have done better over the past 5 years: 12.7% a year at 17.1% volatility, against 0.6% at 27.2% for PLD.
  - **Whole market:** 1,006 of the 3,633 stocks and funds worth at least $500 million earned more than PLD 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 PLD have grown?

This chart tracks a hypothetical $10,000 investment in PLD over the past 28 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of PLD over the same span and PLD's popular alternatives, among those that traded for the entire period.

- $10,000 invested in PLD at the end of September 1998 would have grown to $149,414 by September 2026, more than the $121,630 it would have become in SPY, an S&P 500 fund.
- Five of the seven other investments on the chart ended ahead of PLD, and AMZN finished highest, at $2,678,358.

## PLD 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.

- PLD's deepest decline since it began trading in 1997 was 84.7%, from October 2007 to March 2009. It took about seven years from the low to climb back to its old high.
- Over 28 full calendar years, PLD's best was 2021, when it returned 72.3%, and its worst was 2008, when it lost 58.0%. It lost money in seven of those years.
- PLD is 15.4% below its all-time high.

- Type: Stock, Real Estate (REIT - Industrial)
- Trading since: November 21, 1997
- Market value: $121B
- Volatility (5 years): 27.2%; Sharpe ratio: 0.16
- Worst decline ever: −84.7%, from October 11, 2007 to March 6, 2009; back at its high by May 16, 2016

| Period | PLD total return |
| --- | --- |
| 1 month | −6.1% |
| 3 months | −12.9% |
| 6 months | −10.8% |
| year to date | +1.1% |
| 1 year | +3.4% |
| 3 years | +37.1% |
| 5 years | +3.0% |
| 10 years | +221% |

## PLD against the whole market

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

### How does PLD rank among all stocks?

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

- PLD's worst decline of the past 10 years ranks in the top 11% of the 2,187 stocks worth at least $300 million, where the top fell the least.

| Measure | PLD | Rank |
| --- | --- | --- |
| 1-year return | +3.4% | 1,837 of 3,287 (top 56%) |
| 3-year return | +37.1% | 1,746 of 3,017 (top 58%) |
| 5-year return | +3.0% | 1,697 of 2,893 (top 59%) |
| 10-year return | +221% | 796 of 2,202 (top 37%) |
| Volatility, 5 years | 27.2% | 497 of 2,893 (top 18%) |
| Sharpe ratio, 5 years | 0.16 | 1,966 of 2,893 (top 68%) |
| Worst decline, past 10 years | −43.3% | 238 of 2,187 (top 11%) |

### What has beaten PLD 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).

- 258 stocks and 748 ETFs worth at least $500 million sit in the green region: each earned more than PLD over the past 5 years with smaller price swings. That is 28% of the 3,633 screened.
- Among those with at least half PLD's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 9% less than PLD's 27.2%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.16 for PLD.
- Among PLD's popular alternatives, EGP and FR are in the region. EGP earned 4.4% a year against 0.6% a year for PLD, at 23.3% volatility, 14% less than PLD's 27.2%.

### Is there a better investment than PLD?

The table below lists investments that beat PLD 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 PLD's popular alternatives, EGP and FR earned more than PLD with less volatility over the past 5 years. EGP returned 4.4% a year at 23.3% volatility, against 0.6% a year at 27.2%.
- Looking beyond its popular alternatives, PSA (self-storage reits) and WPC (net lease reits) earned more than PLD with less volatility over the past 5 years. PSA returned 3.2% a year at 24.1% volatility, against 0.6% a year at 27.2%.
- Simply owning the S&P 500 would have done better over the past 5 years: 12.7% a year at 17.1% volatility, against 0.6% at 27.2% for PLD.

The 15 strongest of 1,006 investments that beat PLD 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 PLD | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| PLD: Prologis, Inc. (this page) |  | +0.6% | 27.2% | 0.16 | −43.3% | +221% |  |  |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.48 | 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% | 0.47 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [RSG](https://easycompare.io/research/rsg): Republic Services, Inc. | Environmental Services | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [WM](https://easycompare.io/research/wm): Waste Management, Inc. | Environmental Services | +9.3% | 19.2% | 0.56 | −30.1% | +344% | 0.40 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [DGRO](https://easycompare.io/research/dgro): iShares Core Dividend Growth ETF | US Dividend Equity | +10.9% | 13.7% | 0.83 | −35.1% | +267% | 0.73 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [ICE](https://easycompare.io/research/ice): Intercontinental Exchange, Inc. | Capital Markets | +5.4% | 21.8% | 0.35 | −34.3% | +240% | 0.62 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [WCN](https://easycompare.io/research/wcn): Waste Connections, Inc. | Environmental Services | +6.1% | 20.0% | 0.40 | −31.6% | +270% | 0.51 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| MGV: Vanguard Morningstar Mega Cap Value ETF | US Large-Cap Value | +12.6% | 13.4% | 0.95 | −35.4% | +244% | 0.66 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VTI](https://easycompare.io/research/vti): Vanguard Morningstar Total Stock Market ETF | US Total Market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.69 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VOO](https://easycompare.io/research/voo): Vanguard S&P 500 ETF | US Large-Cap Equity | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.68 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| IOO: iShares Global 100 ETF | Global Equity | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.65 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [WMT](https://easycompare.io/research/wmt): Walmart Inc. | Discount Retail | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.46 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| MOAT: VanEck Morningstar Wide Moat ETF | US Large-Cap Equity | +9.1% | 18.4% | 0.57 | −33.3% | +276% | 0.72 | 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% | 0.40 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [V](https://easycompare.io/research/v): Visa Inc. | Payment Processing | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.48 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## PLD against its popular alternatives

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

### How do PLD's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- Four of the 14 popular alternatives, led by EGP, FR and TRNO, were both more rewarding and calmer than PLD over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, PLD returned 0.6% a year, less than the S&P 500's 12.7%, with higher volatility (27.2% against 17.1%).

### Has PLD consistently beaten its popular alternatives?

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

- Six of the 15 popular alternatives, led by AMZN, EGP and FDX, outperformed PLD in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- AMZN and EGP outperformed PLD in every long-term period and in all but one short-term period, the most consistent record in the group.
- EGP, FR and TRNO earned more for the risk they took than PLD (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 PLD | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| PLD: Prologis, Inc. (this page) | +3.4% | +37.1% | +3.0% | +221% |  |  | 0.16 |
| [AMZN](https://easycompare.io/research/amzn): Amazon.com, Inc. | +21.3% | +110% | +53.8% | +548% | 5/5 short-term, 3/3 long-term | all-weather | 0.42 |
| EGP: EastGroup Properties, Inc. | +13.9% | +41.4% | +24.1% | +285% | 5/5 short-term, 3/3 long-term | all-weather | 0.30 |
| [FDX](https://easycompare.io/research/fdx): FedEx Corporation | +56.7% | +63.1% | +76.6% | +156% | 5/5 short-term, 2/3 long-term | consistent | 0.52 |
| LXP: LXP Industrial Trust | +31.3% | +75.1% | +6.7% | +107% | 5/5 short-term, 2/3 long-term | consistent | 0.18 |
| FR: First Industrial Realty Trust, Inc. | +9.1% | +53.5% | +16.4% | +187% | 4/5 short-term, 2/3 long-term | consistent | 0.25 |
| [DLR](https://easycompare.io/research/dlr): Digital Realty Trust, Inc. | +4.3% | +65.7% | +35.7% | +154% | 3/5 short-term, 2/3 long-term | consistent | 0.35 |
| TRNO: Terreno Realty Corporation | +8.7% | +37.4% | +7.2% | +221% | 5/5 short-term, 1/3 long-term |  | 0.18 |
| ILPT: Industrial Logistics Properties Trust | +29.7% | +222% | −71.8% | — | 3/5 short-term, 1/3 long-term |  | -0.16 |
| [UPS](https://easycompare.io/research/ups): United Parcel Service, Inc. | +20.8% | −23.0% | −36.1% | +35.4% | 5/5 short-term, 0/3 long-term |  | -0.17 |
| COLD: Americold Realty Trust, Inc. | +10.5% | −38.7% | −42.8% | — | 5/5 short-term, 0/3 long-term |  | -0.17 |
| STAG: STAG Industrial, Inc. | −1.7% | +27.0% | +2.9% | +145% | 4/5 short-term, 0/3 long-term |  | 0.14 |
| IIPR: Innovative Industrial Properties, Inc. | +11.4% | +0.3% | −66.4% | — | 4/5 short-term, 0/3 long-term |  | -0.32 |
| REXR: Rexford Industrial Realty, Inc. | −11.9% | −4.4% | −30.9% | +120% | 3/5 short-term, 0/3 long-term |  | -0.13 |
| GXO: GXO Logistics, Inc. | −12.3% | −8.0% | −43.8% | — | 2/5 short-term, 0/3 long-term |  | -0.06 |
| LINE: Lineage, Inc. | −10.4% | — | — | — | 1/5 short-term, 0/3 long-term |  | — |

### How did PLD do year by year?

This table shows each investment's total return in every full calendar year since 1998, along with where PLD ranked among its popular alternatives each year.

- Ranked against its popular alternatives each year, PLD finished in the top quarter in five of 28 years and in the bottom quarter in no. In 2025, it ranked 3 of 16.
- PLD finished ahead of the S&P 500 in 15 of its 28 full calendar years.
- Among its popular alternatives, DLR came out ahead of PLD most often, in 13 of the 21 years both traded.

| Year | PLD | SPY |
| --- | --- | --- |
| 2025 | +25.1% | +17.7% |
| 2024 | −18.1% | +24.9% |
| 2023 | +21.6% | +26.2% |
| 2022 | −31.3% | −18.2% |
| 2021 | +72.3% | +28.7% |
| 2020 | +14.7% | +18.3% |
| 2019 | +55.9% | +31.2% |
| 2018 | −6.2% | −4.6% |
| 2017 | +25.9% | +21.7% |
| 2016 | +27.4% | +12.0% |

## Risk and diversification

How PLD 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 PLD's worst declines?

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

- In all five of PLD's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: PLD fell 43.3% from April 2022 to April 2025, while the S&P 500 rose 21.2%.
- The slowest recovery came after PLD fell 84.7% from October 2007 to March 2009; it did not regain that peak until May 2016, seven years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −84.7% | October 11, 2007 | March 6, 2009 | May 16, 2016 | −54.4% | 2008 financial crisis |
| −43.3% | April 28, 2022 | April 8, 2025 | not yet | +21.3% | 2022 bear market |
| −36.2% | February 21, 2020 | March 20, 2020 | July 21, 2020 | −31.0% | Covid crash |
| −23.6% | September 30, 1998 | December 16, 1999 | June 20, 2000 | +41.3% |  |
| −23.0% | February 13, 2007 | August 15, 2007 | October 4, 2007 | −1.7% |  |

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

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

- PLD fell further than the S&P 500 in eight of the ten crashes it has traded through. The clearest case was the 2008 financial crisis, when PLD fell 84.7% and the S&P 500 fell 55.2%.
- Among its popular alternatives, COLD held up best, falling less than PLD in all five crashes they both traded through.

| Crash | Dates | PLD fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −17.1% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −84.7% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −4.2% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −36.2% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −18.4% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −8.6% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −17.9% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −36.2% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −42.1% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −6.5% | −3.4% |

### How closely does PLD 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.

- TRNO took just 92% of the S&P 500's losses, against 122% for PLD, while still keeping 86% of its gains.
- Over the past 10 years, PLD captured 103% of the S&P 500's gains in rising months and 122% of its losses in falling months, with a beta of 1.04. It amplified the market's moves in both directions.
- Four of the ten popular alternatives had a higher capture ratio (upside capture divided by downside capture) than PLD's 0.84, led by DLR, EGP and AMZN.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| PLD: Prologis, Inc. (this page) | 103% | 122% | 1.04 |
| [AMZN](https://easycompare.io/research/amzn): Amazon.com, Inc. | 134% | 139% | 1.31 |
| EGP: EastGroup Properties, Inc. | 91.0% | 93.0% | 0.88 |
| [FDX](https://easycompare.io/research/fdx): FedEx Corporation | 116% | 166% | 1.29 |
| LXP: LXP Industrial Trust | 78.0% | 106% | 0.82 |
| FR: First Industrial Realty Trust, Inc. | 93.0% | 113% | 0.96 |
| [DLR](https://easycompare.io/research/dlr): Digital Realty Trust, Inc. | 64.0% | 64.0% | 0.60 |
| TRNO: Terreno Realty Corporation | 86.0% | 92.0% | 0.81 |
| [UPS](https://easycompare.io/research/ups): United Parcel Service, Inc. | 85.0% | 149% | 1.08 |
| STAG: STAG Industrial, Inc. | 85.0% | 110% | 0.94 |
| REXR: Rexford Industrial Realty, Inc. | 90.0% | 127% | 0.93 |

### What diversifies PLD?

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 PLD into DXJ would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+3.7% for PLD alone, +8.8% for the mix).
- Among large ETFs, DXJ, MLPX and SMH have moved largely independently of PLD over the past 5 years, with correlations of 0.41 or lower, and each still earned a positive 5-year return.
- XLE made money in four of the seven calendar years in which PLD lost money.

| Investment | Correlation with PLD | 5Y return | Volatility | Sharpe | Rose in PLD's 7 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.29 | +225% | 19.1% | 1.34 | 2 of 7 |
| MLPX: Global X - MLP & Energy Infrastructure ETF | 0.37 | +135% | 19.7% | 0.97 | 2 of 7 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.41 | +323% | 36.9% | 0.97 | 2 of 7 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.22 | +126% | 18.9% | 0.96 | 3 of 7 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.45 | +136% | 20.8% | 0.93 | 1 of 7 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.23 | +177% | 25.5% | 0.93 | 4 of 7 |
| EWT: iShares MSCI Taiwan ETF | 0.39 | +153% | 24.2% | 0.89 | 1 of 7 |
| EUFN: iShares MSCI Europe Financials ETF | 0.49 | +133% | 21.8% | 0.89 | 1 of 7 |

## Common questions

### What was PLD's worst drawdown?

PLD's deepest decline since it began trading in 1997 was 84.7%, from October 2007 to March 2009. It took about seven years from the low to climb back to its old high.

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

Over 28 full calendar years, PLD's best year was 2021, when it returned 72.3%. Its worst was 2008, with a return of -58.0%.

### Is there a better investment than PLD?

Among PLD's popular alternatives, EGP and FR earned more than PLD with less volatility over the past 5 years. EGP returned 4.4% a year at 23.3% volatility, against 0.6% a year at 27.2%. Looking beyond its popular alternatives, PSA (self-storage reits) and WPC (net lease reits) earned more than PLD with less volatility over the past 5 years. PSA returned 3.2% a year at 24.1% volatility, against 0.6% a year at 27.2%.

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

Yes. PLD's volatility over the past 5 years was 27.2%, 1.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, PLD's return lands within 27.2% 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 PLD's Sharpe ratio?

PLD's Sharpe ratio over the past 5 years was 0.16, against 0.79 for the S&P 500, so PLD 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 PLD with the S&P 500?

Over the past 5 years, PLD's monthly returns had a correlation of 0.69 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 PLD instead: the lower it is, the more that option would diversify a PLD holding.

### What are the best alternatives to PLD?

Of the 15 popular alternatives we compared, six outperformed PLD in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: AMZN, EGP and FDX.

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

PLD finished ahead of the S&P 500 (SPY) in 15 of 28 full calendar years. In 2025, it returned +25.1%, against +17.7% for the index.

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

PLD fell less than the S&P 500 (SPY) in two of the ten major crashes it has traded through, and further in eight. The clearest case was the 2008 financial crisis, when PLD fell 84.7% and the S&P 500 fell 55.2%.

### What diversifies PLD?

These had a low correlation with PLD over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.29), MLPX (correlation 0.37) and SMH (correlation 0.41); among large stocks, CAH (correlation 0.25), CLS (correlation 0.31) and FIX (correlation 0.37). A correlation near zero means the two have moved largely independently.

## More research

- [Amazon.com (AMZN) Performance, Alternatives and Market Rank](https://easycompare.io/research/amzn)
- [FedEx (FDX) Performance, Alternatives and Market Rank](https://easycompare.io/research/fdx)
- [Digital Realty Trust (DLR) Performance, Alternatives and Market Rank](https://easycompare.io/research/dlr)
- [United Parcel Service (UPS) Performance, Alternatives and Market Rank](https://easycompare.io/research/ups)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/aapl)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)
- [Microsoft (MSFT) Performance, Alternatives and Market Rank](https://easycompare.io/research/msft)
- [Vanguard Morningstar Total Stock Market ETF (VTI) Performance, Alternatives and Market Rank](https://easycompare.io/research/vti)
- [Taiwan Semiconductor Manufacturing (TSM) Performance, Alternatives and Market Rank](https://easycompare.io/research/tsm)
- [Space Exploration Technologies (SPCX) Performance, Alternatives and Market Rank](https://easycompare.io/research/spcx)

## Explore further

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