Relative Intelligence · Regional Banks
How PNC Financial Services Group (PNC) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on PNC alone. It places PNC (The PNC Financial Services Group, 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 PNC stands in the market, and of the alternatives worth a closer look.
Period covered: PNC's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.
Data as of October 20, 2026. Full tables and charts read best on a larger screen.
On this page12 sections
Key findings
- Right nowOver the past 3 months, PNC fell 10.8% while the S&P 500 rose 3.9%. At a glance ↓
- Stock or market?PNC's 10.8% fall over the past 3 months is part of a broader regional banks sell-off: the regional banks ETF KRE (State Street SPDR S&P Regional Banking ETF) fell 6.4%, with USB (U.S. Bancorp, down 5.5%) and TFC (Truist Financial, down 6.3%).
- Past 1 to 3 yearsPNC has outpaced the market, rising 25.3% 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 (120% against 89.3%). By year ↓
- Long termPNC turned $10,000 into $33,000 over the past decade, against $42,100 in the S&P 500. Growth of $10,000 ↓
- In a crashAcross seven sell-offs, PNC has typically fallen 1.3 times as far as the S&P 500. In the Covid crash, PNC fell 47.8%, against 33.7% for the S&P 500. That was more than EWBC (East West Bancorp, 43.9%) but less than TFC (Truist Financial, 53.5%). Crash tests ↓
- DiversificationAgainst the S&P 500, PNC has a correlation of 0.53 over 5 years, more closely than 80% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Over 10 years, PNC's beta versus the S&P 500 was 1.15: in the S&P 500's rising months it gained 1.1 times as much as the index, and in falling months it lost 1.3 times as much. Market capture ↓
- Better options
- Popular alternatives
- JPM (JPMorgan Chase & Co.) and BNY (Bank of New York Mellon) earned more than PNC with less volatility over the past 5 years. JPM returned 17.3% a year at 24.3% volatility, against 4.6% a year at 26.8%.
- Nearby categories and themes
- V (Visa, payment processing) and TD (Toronto-Dominion Bank, banks) earned more than PNC with less volatility over the past 5 years. V returned 12.8% a year at 22.9% volatility, against 4.6% a year at 26.8%.
- Whole market
- 763 of the 3,633 stocks and funds worth at least $500 million earned more than PNC 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 PNC have grown?
This chart tracks a hypothetical $10,000 investment in PNC over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of PNC over the same span and PNC's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.
- $10,000 invested in PNC at the end of September 1997 would have grown to $110,665 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of PNC, and JPM finished highest, at $189,407.
Choose a period
From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 491 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of PNC; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- JPM$189,407+1,794% total · +10.7% a year
- CFR$147,524+1,375% total · +9.7% a year
- WTFC$135,844+1,258% total · +9.4% a year
- SPY (S&P 500)$132,907+1,229% total · +9.3% a year
- BNY$121,131+1,111% total · +9.0% a year
- WFC$112,272+1,023% total · +8.7% a year
- PNC$110,665+1,007% total · +8.6% a year
- UMBF$101,896+919% total · +8.3% a year
- FITB$38,728+287% total · +4.8% a year
- RF$33,351+234% total · +4.2% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,834 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of PNC; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- BNY$31,954+220% total · +26.2% a year
- JPM$22,905+129% total · +18.0% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- EWBC$18,185+81.8% total · +12.7% a year
- CFG$16,670+66.7% total · +10.8% a year
- RF$15,520+55.2% total · +9.2% a year
- UMBF$14,618+46.2% total · +7.9% a year
- FITB$14,402+44.0% total · +7.6% a year
- BLK$14,247+42.5% total · +7.3% a year
- PNC$13,649+36.5% total · +6.4% a year
PNC 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.
- PNC's deepest decline since it began trading in 1986 was 76.7%, from September 2008 to March 2009. It took about four years from the low to climb back to its old high.
- Over 29 full calendar years, PNC's best was 2000, when it returned 70.4%, and its worst was 2002, when it lost 22.5%. It lost money in ten of those years.
- PNC is 13.2% below its all-time high.
The company
- Market value
- $88B
- Industry
- Banks - Regional
- Price history from
- October 1986
Returns
- Past 1 year
- +25.3%total return
- Past 3 years
- +120%+30.0% a year
- Past 5 years
- +25.1%+4.6% a year
- Past 10 years
- +230%+12.7% a year
- Best calendar year
- +70.4%2000
- Worst calendar year
- −22.5%2002
- Losing years
- 10 of 29full calendar years
Risk
- Volatility
- 26.8%typical yearly swing, 5 years
- Sharpe ratio
- 0.30return per unit of risk, 5 years
- Worst decline ever
- −76.7%Sep 2008 to Mar 2009
- From its all-time high
- −13.2%below the peak
PNC against the whole market
Where PNC ranks among every stock and fund, and what across the market has done better.
How does PNC rank among all stocks?
This section ranks PNC 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 PNC stacks up against its peers, these rankings show where it stands in the market as a whole.
- PNC is among the steadier stocks: its price swings rank in the top 16% of the 2,893 stocks worth at least $300 million, where the top is the calmest.
Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.
| Measure | PNC | Rank | Standing |
|---|---|---|---|
| 1-year return | +25.3% | 1,095 of 3,287 | top 33% |
| 3-year return | +120% | 773 of 3,017 | top 26% |
| 5-year return | +25.1% | 1,389 of 2,893 | top 48% |
| 10-year return | +230% | 770 of 2,202 | top 35% |
| Volatility, 5 years | 26.8% | 466 of 2,893 | top 16% |
| Sharpe ratio, 5 years | 0.30 | 1,543 of 2,893 | bottom 48% |
| Worst decline, past 10 years | −49.6% | 448 of 2,187 | top 20% |
What has beaten PNC 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). PNC sits where the dashed lines cross. Anything in the green box above and to the left earned more than PNC 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.
- 180 stocks and 583 ETFs worth at least $500 million sit in the green region: each earned more than PNC over the past 5 years with smaller price swings. That is 21% of the 3,633 screened.
- Among those with at least half PNC's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 8% less than PNC's 26.8%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.30 for PNC.
- Among PNC's popular alternatives, BNY and JPM are in the region. BNY earned 22.7% a year against 4.6% a year for PNC, at 24.4% volatility, 9% less than PNC's 26.8%.
Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to PNC; faint dots are 87 more of the 763 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.
- Popular alternatives
- Same and neighboring categories, and shared themes
- The whole market
- Others in the green region
Is there a better investment than PNC?
Investments that beat PNC over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among PNC's popular alternatives, JPM and BNY earned more than PNC with less volatility over the past 5 years. JPM returned 17.3% a year at 24.3% volatility, against 4.6% a year at 26.8%.
- Looking beyond its popular alternatives, V (payment processing) and TD (banks) earned more than PNC with less volatility over the past 5 years. V returned 12.8% a year at 22.9% volatility, against 4.6% a year at 26.8%.
- Across the whole market, 763 of the 3,633 stocks and funds worth at least $500 million earned more than PNC with less volatility over the past 5 years, among them VTI, VOO and BRK-B.
How this works
The table below lists investments that beat PNC 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 PNC'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 PNC 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 PNC'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× PNC's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than PNC's.
| Investment | Why it is better | Past 5 years | Downside | Long run | Fit | ||||
|---|---|---|---|---|---|---|---|---|---|
| Annual return?higher is better | Volatility?lower is calmer | Sharpe?return per unit of risk | Worst decline?past 10 years | 10Y returntotal | Corr. with PNC?lower diversifies more | Expenseper year | |||
| PNCThe PNC Financial Services Group, Inc. · this page | +4.6% | 26.8% | 0.30 | −49.6% | +230% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.53 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against PNC. 9 of 23 passed at least one test. | |||||||||
 JPMJPMorgan Chase & Co. · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +17.3% | 24.3% | 0.78 | −43.6% | +537% | 0.75 | — | |
 BNYBank of New York Mellon Corp · Banks | Higher return, lower volatilityHigher return in most periods | +22.7% | 24.4% | 0.97 | −50.5% | +341% | 0.76 | — | |
 BLKBlackRock, Inc. · Asset Management | Higher return in most periods | +7.1% | 27.1% | 0.39 | −43.9% | +313% | 0.63 | — | |
 FITBFifth Third Bancorp · Regional Banks | Higher return in most periods | +6.8% | 31.4% | 0.37 | −64.0% | +255% | 0.93 | — | |
CFGCitizens Financial Group, Inc. · Regional Banks | Higher return in most periods | +9.2% | 33.6% | 0.43 | −65.6% | +266% | 0.92 | — | |
FNBF.N.B. Corporation · Regional Banks | Higher return, similar volatility | +11.4% | 28.7% | 0.52 | −61.4% | +101% | 0.86 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Regional Banks and Banks and the categories next to it (Investment Banking & Brokerage, Payment Processing, Capital Markets, Asset Management), plus PNC's specific themes. 53 of 118 passed at least one test. | |||||||||
 VVisa Inc. · Payment Processing | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.43 | — | |
 TDThe Toronto-Dominion Bank · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +15.8% | 20.0% | 0.84 | −42.0% | +310% | 0.66 | — | |
 CMECME Group Inc. · Capital Markets | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +11.2% | 20.8% | 0.62 | −37.4% | +319% | -0.03 | — | |
CBOECboe Global Markets, Inc. · Capital Markets | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +21.5% | 25.1% | 0.91 | −43.2% | +463% | 0.07 | — | |
 RYRoyal Bank of Canada · Banks | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.76 | — | |
 HSBCHSBC Holdings plc · Banks | Higher return, similar volatilityHigher return in most periods | +33.1% | 25.9% | 1.24 | −62.3% | +319% | 0.48 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,236 of 3,492 passed at least one test. | |||||||||
 VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.57 | 0.03% | |
 VOOVanguard S&P 500 ETF · US Large-Cap Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.53 | 0.03% | |
 BRK-BBerkshire Hathaway Inc. · Insurance | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.38 | — | |
 COSTCostco Wholesale Corporation · Discount Retail | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.27 | — | |
 MRKMerck & Co., Inc. · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +16.3% | 24.8% | 0.74 | −43.4% | +241% | 0.11 | — | |
 LINLinde plc · Chemicals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.40 | — | |
 MSFTMicrosoft Corporation · Software | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.5% | 28.2% | 0.56 | −37.1% | +946% | 0.06 | — | |
 SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds | On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline | +3.8% | 0.3% | 13.25 | −0.3% | — | 0.14 | 0.09% | |
What these numbers mean for PNC
- Annual return
- PNC returned 4.6% 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 $12,500. 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
- PNC's volatility over the past 5 years was 26.8%, 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, PNC's return lands within 26.8% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
- Sharpe ratio
- PNC's Sharpe ratio over the past 5 years was 0.30, against 0.79 for the S&P 500, so PNC 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
- PNC's worst fall from a peak to a low over the past 10 years was 49.6%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 49.6% fall takes a 98.3% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, PNC's monthly returns had a correlation of 0.53 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against PNC instead: the lower it is, the more that option would diversify a PNC holding. Guide: Correlation and diversification →
Show all 763 stocks and funds worth at least $500 million that earned more than PNC with less volatility
Out of 3,633 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.
| # | Investment | Found in | Annual return | Volatility | Sharpe | Worst decline | 10Y return | Corr. with PNC | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Whole market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.57 | 0.03% |
| 2 | VOOVanguard S&P 500 ETF · US Large-Cap Equity | Whole market | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.53 | 0.03% |
| 3 | BRK-BBerkshire Hathaway Inc. · Insurance | Whole market | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.38 | — |
| 4 | COSTCostco Wholesale Corporation · Discount Retail | Whole market | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.27 | — |
| 5 | MRKMerck & Co., Inc. · Pharmaceuticals | Whole market | +16.3% | 24.8% | 0.74 | −43.4% | +241% | 0.11 | — |
| 6 | LINLinde plc · Chemicals | Whole market | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.40 | — |
| 7 |  CBChubb Limited · Property & Casualty Insurance | Whole market | +15.7% | 20.4% | 0.82 | −42.6% | +248% | 0.50 | — |
| 8 |  VIGVanguard Dividend Appreciation ETF · US Dividend Equity | Whole market | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.62 | 0.04% |
| 9 |  SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Whole market | +9.7% | 14.3% | 0.72 | −33.4% | +252% | 0.67 | 0.06% |
| 10 |  IWFiShares Russell 1000 Growth ETF · US Large-Cap Growth | Whole market | +11.7% | 21.8% | 0.62 | −32.7% | +416% | 0.35 | 0.18% |
| 11 |  RSGRepublic Services, Inc. · Environmental Services | Whole market | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.23 | — |
| 12 |  ADPAutomatic Data Processing, Inc. · Business Services | Whole market | +9.0% | 22.9% | 0.49 | −40.8% | +320% | 0.39 | — |
| 13 |  MSIMotorola Solutions, Inc. · Communications Equipment | Whole market | +14.8% | 23.6% | 0.71 | −32.8% | +625% | 0.31 | — |
| 14 |  WMWaste Management, Inc. · Environmental Services | Whole market | +9.3% | 19.2% | 0.56 | −30.1% | +344% | 0.17 | — |
| 15 |  FASTFastenal Company · Industrial Distribution | Whole market | +15.8% | 24.6% | 0.72 | −30.7% | +576% | 0.39 | — |
| 16 | FNDXSchwab Fundamental U.S. Large Company ETF · US Large-Cap Value | Whole market | +13.5% | 14.9% | 0.93 | −37.7% | +291% | 0.70 | 0.25% |
| 17 | IUSGiShares Core S&P U.S. Growth ETF · US Growth Equity | Whole market | +12.9% | 21.2% | 0.68 | −32.4% | +405% | 0.39 | 0.04% |
| 18 | VVisa Inc. · Payment Processing | Same or nearby category | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.43 | — |
| 19 | RDVYFirst Trust Rising Dividend Achievers ETF · US Dividend Equity | Whole market | +11.3% | 18.8% | 0.67 | −40.6% | +322% | 0.81 | 0.47% |
| 20 | SPHQInvesco S&P 500 Quality ETF · US Quality Equity | Whole market | +12.0% | 16.7% | 0.76 | −31.6% | +300% | 0.53 | 0.20% |
| 21 | MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value | Whole market | +12.6% | 13.4% | 0.95 | −35.4% | +244% | 0.71 | 0.05% |
| 22 | TDThe Toronto-Dominion Bank · Banks | Same or nearby category | +15.8% | 20.0% | 0.84 | −42.0% | +310% | 0.66 | — |
| 23 | MTUMiShares MSCI USA Momentum Factor ETF · US Momentum Equity | Whole market | +10.9% | 22.1% | 0.58 | −34.1% | +336% | 0.45 | 0.15% |
| 24 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.43 | 0.40% |
| 25 | XLGInvesco S&P 500 Top 50 ETF · US Large-Cap Equity | Whole market | +13.8% | 18.9% | 0.78 | −30.5% | +379% | 0.36 | 0.20% |
| 26 | VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value | Whole market | +15.9% | 18.4% | 0.90 | −39.5% | +286% | 0.60 | 0.15% |
| 27 | MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity | Whole market | +9.1% | 18.4% | 0.57 | −33.3% | +276% | 0.59 | 0.46% |
| 28 | CMECME Group Inc. · Capital Markets | Same or nearby category | +11.2% | 20.8% | 0.62 | −37.4% | +319% | -0.03 | — |
| 29 | THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance | Whole market | +14.4% | 22.9% | 0.70 | −40.1% | +291% | 0.44 | — |
| 30 | CBOECboe Global Markets, Inc. · Capital Markets | Same or nearby category | +21.5% | 25.1% | 0.91 | −43.2% | +463% | 0.07 | — |
| 31 | RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity | Whole market | +16.9% | 25.1% | 0.75 | −33.7% | +572% | 0.39 | 0.40% |
| 32 | TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity | Whole market | +16.2% | 21.3% | 0.81 | −32.0% | +388% | 0.36 | 0.50% |
| 33 | RYRoyal Bank of Canada · Banks | Same or nearby category | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.76 | — |
| 34 |  NDAQNasdaq, Inc. · Capital Markets | Same or nearby category | +8.9% | 24.7% | 0.47 | −38.3% | +407% | 0.47 | — |
| 35 | DXJWisdomTree Japan Hedged Equity Fund · International Equity | Whole market | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.18 | 0.48% |
| 36 | XMHQInvesco S&P MidCap Quality ETF · US Mid-Cap Equity | Whole market | +9.7% | 20.5% | 0.56 | −36.9% | +240% | 0.65 | 0.30% |
| 37 | WTVWisdomTree U.S. Value Fund · Broad Market | Whole market | +13.4% | 17.0% | 0.83 | −42.2% | +303% | 0.74 | 0.12% |
| 38 | SUSAiShares ESG Optimized MSCI USA ETF · Broad Market | Whole market | +10.4% | 17.4% | 0.66 | −32.9% | +302% | 0.56 | 0.25% |
| 39 | EQWLInvesco S&P 100 Equal Weight ETF · Broad Market | Whole market | +11.6% | 15.0% | 0.81 | −34.3% | +291% | 0.66 | 0.30% |
| 40 |  PMPhilip Morris International Inc. · Tobacco | Whole market | +21.0% | 23.4% | 0.94 | −42.9% | +242% | 0.42 | — |
| 41 |  MCKMcKesson Corporation · Health Care Distribution | Whole market | +38.7% | 25.0% | 1.44 | −38.1% | +586% | 0.07 | — |
| 42 | CHCOCity Holding Company · Banks - Regional | Whole market | +15.9% | 22.8% | 0.77 | −32.3% | +286% | 0.77 | — |
| 43 |  AMGNAmgen Inc. · Biotechnology | Whole market | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.22 | — |
| 44 | FEXFirst Trust Large Cap Core AlphaDEX Fund · Broad Market | Whole market | +10.1% | 16.5% | 0.67 | −39.5% | +237% | 0.72 | 0.57% |
| 45 | PTNQPacer Trendpilot 100 ETF · Technology | Whole market | +9.7% | 14.1% | 0.73 | −28.1% | +305% | 0.19 | 0.65% |
| 46 | QQEWFirst Trust Nasdaq-100 Select Equal Weight ETF · Technology | Whole market | +6.8% | 21.3% | 0.42 | −32.1% | +267% | 0.46 | 0.55% |
| 47 | QQQEDirexion NASDAQ-100 Equal Weighted Index ETF · Broad Market | Whole market | +8.1% | 20.7% | 0.48 | −32.1% | +294% | 0.49 | 0.35% |
| 48 | DGTState Street SPDR Global Dow ETF · International | Whole market | +13.8% | 15.1% | 0.94 | −34.4% | +261% | 0.61 | 0.50% |
| 49 |  CORCencora, Inc. · Health Care Distribution | Whole market | +24.2% | 22.8% | 1.07 | −32.4% | +406% | 0.30 | — |
| 50 |  GWWW.W. Grainger, Inc. · Industrial Distribution | Whole market | +26.3% | 24.9% | 1.07 | −41.6% | +654% | 0.45 | — |
| 51 |  UNPUnion Pacific Corporation · Railroads | Whole market | +7.1% | 22.9% | 0.42 | −38.7% | +295% | 0.51 | — |
| 52 |  MNSTMonster Beverage Corporation · Food & Beverages | Whole market | +17.2% | 24.9% | 0.77 | −30.4% | +285% | 0.18 | — |
| 53 |  CSXCSX Corporation · Railroads | Whole market | +8.3% | 23.3% | 0.46 | −40.5% | +446% | 0.49 | — |
| 54 |  AMEAMETEK, Inc. · Electronic Instruments | Whole market | +14.4% | 22.1% | 0.72 | −42.7% | +481% | 0.42 | — |
| 55 |  TRPTC Energy Corporation · Oil & Gas Midstream | Whole market | +10.8% | 21.9% | 0.58 | −41.6% | +160% | 0.50 | — |
| 56 |  AJGArthur J. Gallagher & Co. · Insurance | Whole market | +10.9% | 24.2% | 0.55 | −44.4% | +516% | 0.34 | — |
| 57 |  IXORIX Corporation · Diversified Financials | Whole market | +17.9% | 25.4% | 0.78 | −42.5% | +284% | 0.51 | — |
| 58 |  XLFState Street Financial Select Sector SPDR ETF · Financial Sector Equity | Whole market | +8.6% | 18.3% | 0.54 | −42.9% | +241% | 0.83 | 0.08% |
| 59 |  TRVThe Travelers Companies, Inc. · Property & Casualty Insurance | Whole market | +22.4% | 22.3% | 1.02 | −46.3% | +347% | 0.55 | — |
| 60 | DGXQuest Diagnostics Incorporated · Medical Diagnostics | Whole market | +12.3% | 22.5% | 0.63 | −36.6% | +243% | 0.26 | — |
| 61 |  MAMastercard Incorporated · Payment Processing | Same or nearby category | +12.4% | 23.8% | 0.61 | −41.0% | +541% | 0.48 | — |
| 62 | EWTiShares MSCI Taiwan ETF · International Equity | Whole market | +20.4% | 24.2% | 0.89 | −38.9% | +468% | 0.30 | 0.59% |
| 63 | FDVVFidelity High Dividend ETF · US Dividend Equity | Whole market | +13.2% | 14.6% | 0.92 | −40.2% | +253% | 0.65 | 0.15% |
| 64 | JPMJPMorgan Chase & Co. · Banks | Popular alternative | +17.3% | 24.3% | 0.78 | −43.6% | +537% | 0.75 | — |
| 65 |  CAHCardinal Health, Inc. · Health Care Distribution | Whole market | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.21 | — |
| 66 | FLTWFranklin FTSE Taiwan ETF · Technology | Whole market | +21.8% | 24.3% | 0.94 | −38.0% | — | 0.28 | 0.19% |
| 67 | WRBW. R. Berkley Corporation · Property & Casualty Insurance | Whole market | +18.9% | 22.9% | 0.87 | −45.3% | +443% | 0.32 | — |
| 68 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.49 | — |
| 69 |  WCNWaste Connections, Inc. · Environmental Services | Whole market | +6.1% | 20.0% | 0.40 | −31.6% | +270% | 0.31 | — |
| 70 | FRDMFreedom 100 Emerging Markets ETF · International | Whole market | +17.3% | 22.8% | 0.82 | −40.5% | — | 0.37 | 0.49% |
| 71 |  ORLYO'Reilly Automotive, Inc. · Specialty Retail | Whole market | +15.9% | 23.4% | 0.75 | −42.0% | +393% | 0.29 | — |
| 72 |  ETREntergy Corporation · Electric Utilities | Whole market | +19.2% | 22.4% | 0.90 | −42.0% | +311% | 0.28 | — |
| 73 |  AZOAutoZone, Inc. · Specialty Retail | Whole market | +12.3% | 25.3% | 0.59 | −42.1% | +323% | 0.28 | — |
| 74 | FDLOFidelity Low Volatility Factor ETF · Broad Market | Whole market | +9.8% | 13.0% | 0.79 | −34.4% | +249% | 0.51 | 0.15% |
| 75 |  ABBVAbbVie Inc. · Pharmaceuticals | Whole market | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.22 | — |
| 76 | DBJPXtrackers MSCI Japan Hedged Equity ETF · International | Whole market | +20.9% | 19.2% | 1.09 | −31.3% | +348% | 0.19 | 0.45% |
| 77 | FDRRFidelity Dividend ETF for Rising Rates · Dividend & Income | Whole market | +12.6% | 15.0% | 0.87 | −36.5% | +265% | 0.61 | 0.15% |
| 78 |  CVXChevron Corporation · Integrated Oil & Gas | Whole market | +19.5% | 25.2% | 0.84 | −55.8% | +238% | 0.36 | — |
| 79 |  WELLWelltower Inc. · Healthcare REITs | Whole market | +26.0% | 23.8% | 1.09 | −63.3% | +379% | 0.32 | — |
| 80 | FADFirst Trust Multi Cap Growth AlphaDEX Fund · Multi-Asset | Whole market | +8.1% | 20.9% | 0.48 | −37.2% | +264% | 0.62 | 0.63% |
| 81 |  WMTWalmart Inc. · Discount Retail | Whole market | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.19 | — |
| 82 |  BTIBritish American Tobacco p.l.c. · Tobacco | Whole market | +18.7% | 22.0% | 0.90 | −56.1% | +98.2% | 0.47 | — |
| 83 |  WMBThe Williams Companies, Inc. · Oil & Gas Midstream | Whole market | +24.6% | 24.0% | 1.04 | −68.1% | +288% | 0.43 | — |
| 84 |  JNJJohnson & Johnson · Pharmaceuticals | Whole market | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.31 | — |
| 85 |  MFCManulife Financial Corporation · Life Insurance | Whole market | +22.6% | 24.0% | 0.97 | −57.5% | +373% | 0.63 | — |
| 86 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.54 | 0.40% |
| 87 |  KOThe Coca-Cola Company · Food & Beverages | Whole market | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.21 | — |
| 88 | BALTInnovator Defined Wealth Shield ETF · Crypto | Whole market | +6.3% | 3.3% | 1.85 | −4.9% | — | 0.46 | 0.69% |
| 89 |  VXUSVanguard Total International Stock ETF · International Equity | Whole market | +8.2% | 16.4% | 0.57 | −36.0% | +140% | 0.52 | 0.05% |
| 90 |  KMIKinder Morgan, Inc. · Oil & Gas Midstream | Whole market | +18.7% | 22.5% | 0.88 | −55.1% | +163% | 0.53 | — |
| 91 |  CTASCintas Corporation · Business Services | Whole market | +16.5% | 23.1% | 0.78 | −48.4% | +808% | 0.40 | — |
| 92 |  AFLAflac Incorporated · Life Insurance | Whole market | +19.0% | 20.8% | 0.95 | −54.9% | +335% | 0.54 | — |
| 93 | FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Financials | Whole market | +6.0% | 2.3% | 2.55 | −21.0% | +58.0% | 0.40 | 0.60% |
| 94 |  NVSNovartis AG · Pharmaceuticals | Whole market | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.31 | — |
| 95 |  CCEPCoca-Cola Europacific Partners PLC · Food & Beverages | Whole market | +19.7% | 23.2% | 0.90 | −48.8% | +292% | 0.23 | — |
| 96 |  GILDGilead Sciences, Inc. · Biotechnology | Whole market | +22.8% | 24.9% | 0.95 | −30.5% | +200% | 0.15 | — |
| 97 |  METMetLife, Inc. · Life Insurance | Whole market | +12.0% | 25.4% | 0.58 | −55.2% | +240% | 0.72 | — |
| 98 |  VEAVanguard FTSE Developed Markets ETF · Developed International Equity | Whole market | +9.3% | 16.9% | 0.61 | −35.8% | +153% | 0.54 | 0.03% |
| 99 | ACGLArch Capital Group Ltd. · Property & Casualty Insurance | Whole market | +20.1% | 24.5% | 0.87 | −53.8% | +309% | 0.25 | — |
| 100 |  TJXThe TJX Companies, Inc. · Specialty Retail | Whole market | +19.9% | 22.3% | 0.93 | −42.5% | +361% | 0.32 | — |
PNC against its popular alternatives
The investments people most often weigh against PNC, compared period by period and year by year.
How do PNC'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 PNC, which divides the map into what did better or worse on each measure.
- Only BNY and JPM were both more rewarding and calmer than PNC over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, PNC returned 4.6% a year, less than the S&P 500's 12.7%, with higher volatility (26.8% against 17.1%).
Green points earned more than PNC with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| BNY Bank of New York Mellon Corp | +22.7% | 24.4% |
| JPM JPMorgan Chase & Co. | +17.3% | 24.3% |
| WFC Wells Fargo & Company | +13.1% | 29.5% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| WTFC Wintrust Financial Corporation | +11.6% | 31.1% |
| FNB F.N.B. Corporation | +11.4% | 28.7% |
| EWBC East West Bancorp, Inc. | +11.2% | 35.5% |
| MTB M&T Bank Corporation | +9.8% | 29.7% |
| FHN First Horizon Corporation | +9.6% | 36.6% |
| CFG Citizens Financial Group, Inc. | +9.2% | 33.6% |
| RF Regions Financial Corporation | +7.8% | 30.9% |
| BOKF BOK Financial Corporation | +7.3% | 27.4% |
| UMBF UMB Financial Corporation | +7.2% | 33.0% |
| BLK BlackRock, Inc. | +7.1% | 27.1% |
| CFR Cullen/Frost Bankers, Inc. | +6.9% | 29.7% |
| FITB Fifth Third Bancorp | +6.8% | 31.4% |
| PNC This pageThe PNC Financial Services Group, Inc. | +4.6% | 26.8% |
| BAC Bank of America Corporation | +4.0% | 26.6% |
| ZION Zions Bancorporation, National Association | +3.4% | 42.1% |
| USB U.S. Bancorp | +3.3% | 29.6% |
| HBAN Huntington Bancshares Incorporated | +3.0% | 31.2% |
| KEY KeyCorp | +2.3% | 37.6% |
| CBSH Commerce Bancshares, Inc. | +1.4% | 23.9% |
| TFC Truist Financial Corporation | −1.2% | 31.6% |
| WAL Western Alliance Bancorporation | −6.8% | 59.9% |
Has PNC consistently beaten its popular alternatives?
This section compares PNC 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 PNC helps separate lasting outperformance from a single strong stretch.
- Seven of the 23 popular alternatives, led by EWBC, FITB and BNY, outperformed PNC in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- EWBC, FITB and BNY outperformed PNC in every long-term period and in all but one short-term period, the most consistent record in the group.
- JPM and BLK earned more for the risk they took than PNC (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
A green cell means the alternative earned more than PNC over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| PNC The PNC Financial Services Group, Inc. (this page) | — | −4.4% | −10.8% | −1.0% | +7.9% | +25.3% | +120% | +25.1% | +230% | 26.8% | 0.30 | −49.6% | — | $88B | — |
| EWBC QualifiedEast West Bancorp, Inc. | 5/5 short3/3 longAll-weather | +0.4% | −3.6% | +9.1% | +13.7% | +33.8% | +170% | +70.1% | +304% | 35.5% | 0.48 | −67.7% | — | $18B | — |
| FITB QualifiedFifth Third Bancorp | 5/5 short3/3 longAll-weather | −0.9% | −7.9% | +4.4% | +12.5% | +29.6% | +151% | +38.9% | +255% | 31.4% | 0.37 | −64.0% | — | $48B | — |
| BNY QualifiedBank of New York Mellon Corp | 4/5 short3/3 longAll-weather | −6.3% | −7.7% | +7.4% | +24.8% | +35.3% | +272% | +179% | +341% | 24.4% | 0.97 | −50.5% | — | $98B | — |
| CFG QualifiedCitizens Financial Group, Inc. | 3/5 short3/3 long | −4.7% | −9.6% | −1.0% | +10.4% | +31.5% | +205% | +55.0% | +266% | 33.6% | 0.43 | −65.6% | — | $27B | — |
| UMBF QualifiedUMB Financial Corporation | 4/5 short2/3 long | −0.3% | −7.6% | +7.9% | +15.5% | +20.2% | +129% | +41.7% | +158% | 33.0% | 0.38 | −50.2% | — | $10B | — |
| BLK QualifiedBlackRock, Inc. | 3/5 short2/3 long | +3.5% | +7.6% | +8.8% | +5.7% | −0.6% | +96.3% | +41.1% | +313% | 27.1% | 0.39 | −43.9% | — | $175B | — |
| RF QualifiedRegions Financial Corporation | 3/5 short2/3 long | −2.5% | −9.6% | +0.3% | +4.0% | +20.5% | +120% | +45.7% | +278% | 30.9% | 0.40 | −60.8% | — | $24B | — |
| JPM Banks - DiversifiedJPMorgan Chase & Co. | 2/5 short3/3 long | −4.3% | −0.6% | +6.8% | +5.0% | +13.0% | +150% | +122% | +537% | 24.3% | 0.78 | −43.6% | — | $891B | — |
| FHN Banks - RegionalFirst Horizon Corporation | 2/5 short2/3 long | −3.6% | −8.9% | −5.7% | −2.4% | +15.4% | +141% | +58.2% | +113% | 36.6% | 0.44 | −64.2% | — | $11B | — |
| CFR Banks - RegionalCullen/Frost Bankers, Inc. | 5/5 short1/3 long | −1.7% | −3.1% | +9.6% | +24.3% | +28.4% | +99.0% | +39.9% | +181% | 29.7% | 0.38 | −56.9% | — | $9.7B | — |
| ZION Banks - RegionalZions Bancorporation, National Association | 5/5 short1/3 long | −0.6% | −9.6% | +3.9% | +11.4% | +28.1% | +139% | +17.9% | +167% | 42.1% | 0.29 | −72.2% | — | $9.4B | — |
| MTB Banks - RegionalM&T Bank Corporation | 3/5 short1/3 long | −3.8% | −11.9% | +0.7% | +9.2% | +23.4% | +111% | +59.3% | +143% | 29.7% | 0.46 | −53.0% | — | $32B | — |
| FNB Banks - RegionalF.N.B. Corporation | 3/5 short1/3 long | −1.4% | −5.2% | +0.5% | +4.9% | +17.3% | +81.9% | +71.6% | +101% | 28.7% | 0.52 | −61.4% | — | $6.2B | — |
| WTFC Banks - RegionalWintrust Financial Corporation | 2/5 short1/3 long | −0.5% | −10.3% | −1.0% | +3.6% | +17.3% | +107% | +73.1% | +212% | 31.1% | 0.51 | −74.5% | — | $9.9B | — |
| KEY Banks - RegionalKeyCorp | 2/5 short1/3 long | −0.3% | −9.9% | −4.4% | +2.1% | +24.6% | +143% | +11.9% | +143% | 37.6% | 0.25 | −65.2% | — | $22B | — |
| WFC Banks - DiversifiedWells Fargo & Company | 2/5 short1/3 long | −5.0% | −4.3% | +1.4% | −12.3% | −2.4% | +119% | +85.0% | +141% | 29.5% | 0.57 | −64.5% | — | $248B | — |
| BOKF Banks - RegionalBOK Financial Corporation | 1/5 short1/3 long | −5.0% | −9.6% | −6.9% | +8.1% | +17.3% | +85.5% | +42.1% | +128% | 27.4% | 0.40 | −65.0% | — | $7.7B | — |
| BAC Banks - DiversifiedBank of America Corporation | 0/5 short1/3 long | −12.6% | −15.8% | −5.2% | −8.0% | −0.6% | +107% | +21.6% | +282% | 26.6% | 0.28 | −49.0% | — | $354B | — |
| USB Banks - RegionalU.S. Bancorp | 5/5 short0/3 long | −1.3% | −5.5% | +5.5% | +12.7% | +30.3% | +117% | +17.6% | +94.6% | 29.6% | 0.26 | −52.1% | — | $92B | — |
| CBSH Banks - RegionalCommerce Bancshares, Inc. | 3/5 short0/3 long | −1.7% | −5.0% | +9.2% | +8.0% | +10.3% | +50.5% | +7.4% | +119% | 23.9% | 0.18 | −38.1% | — | $8.0B | — |
| TFC Banks - RegionalTruist Financial Corporation | 2/5 short0/3 long | −3.4% | −6.3% | −5.0% | −1.9% | +13.6% | +102% | −5.7% | +82.7% | 31.6% | 0.12 | −59.1% | — | $58B | — |
| WAL Banks - RegionalWestern Alliance Bancorporation | 1/5 short0/3 long | −4.3% | −6.5% | −4.2% | −10.5% | +1.9% | +89.9% | −29.5% | +133% | 59.9% | 0.20 | −84.8% | — | $8.2B | — |
| HBAN Banks - RegionalHuntington Bancshares Incorporated | 1/5 short0/3 long | −3.1% | −13.1% | −7.2% | −8.5% | +1.9% | +82.4% | +16.1% | +132% | 31.2% | 0.25 | −55.0% | — | $31B | — |
How did PNC do year by year?
This table shows each investment's total return in every full calendar year since 1997, along with where PNC ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with PNC and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- PNC finished ahead of the S&P 500 in 15 of its 29 full calendar years.
- Among its popular alternatives, JPM came out ahead of PNC most often, in 18 of the 29 years both traded.
- Ranked against its popular alternatives each year, PNC finished in the top quarter in six of 29 years and in the bottom quarter in four. In 2025, it ranked 16 of 24.
Newest year first. Green marks a year in which the fund came out ahead of PNC; gray means the two finished within a fraction of a point. The rank row places PNC among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of PNC | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PNC This pageThe PNC Financial Services Group, Inc. | — | +12.2% | +29.4% | +2.7% | −18.6% | +38.2% | −2.8% | +40.9% | −17.0% | +26.0% | +25.8% | +6.8% | +20.3% | +36.4% | +3.6% | −3.1% | +15.8% | +10.2% | −22.2% | −8.3% | +23.6% | +11.7% | +8.9% | +36.2% | −22.5% | −20.7% | +70.4% | −15.0% | −2.2% | +56.7% |
| Rank among alternatives | Top quarter in 6 of 29 | 16 of 24 | 13 of 24 | 12 of 24 | 14 of 24 | 14 of 24 | 7 of 24 | 6 of 24 | 11 of 24 | 4 of 24 | 17 of 24 | 7 of 24 | 2 of 23 | 15 of 23 | 21 of 23 | 7 of 23 | 12 of 23 | 8 of 23 | 9 of 23 | 9 of 23 | 5 of 23 | 6 of 22 | 19 of 22 | 8 of 22 | 19 of 22 | 20 of 22 | 3 of 22 | 12 of 20 | 15 of 20 | 13 of 20 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 13 of 29 | +17.7% | +24.9% | +26.2% | −18.2% | +28.7% | +18.3% | +31.2% | −4.6% | +21.7% | +12.0% | +1.2% | +13.5% | +32.3% | +16.0% | +1.9% | +15.1% | +26.4% | −36.8% | +5.1% | +15.9% | +4.8% | +10.7% | +28.2% | −21.6% | −11.7% | −9.8% | +20.4% | +28.7% | +33.5% |
| EWBC East West Bancorp, Inc. | 16 of 26 | +20.3% | +36.8% | +12.8% | −14.4% | +58.0% | +7.2% | +14.4% | −27.4% | +21.4% | +25.1% | +9.5% | +13.0% | +66.4% | +10.8% | +1.8% | +24.1% | −0.6% | −32.5% | −30.9% | −2.5% | −12.5% | +57.4% | +50.2% | +41.3% | +4.0% | +120% | — | — | — |
| FITB Fifth Third Bancorp | 13 of 29 | +14.8% | +27.2% | +10.4% | −21.9% | +62.4% | −5.4% | +35.2% | −20.3% | +15.1% | +37.9% | +1.3% | −0.8% | +41.9% | +22.5% | −11.3% | +51.2% | +18.9% | −65.6% | −35.5% | +13.0% | −17.3% | −17.9% | +3.0% | −3.0% | +4.1% | +23.8% | +4.3% | +32.4% | +97.8% |
| BNY Bank of New York Mellon Corp | 13 of 29 | +54.4% | +51.9% | +18.5% | −19.1% | +40.6% | −12.9% | +9.6% | −10.8% | +15.7% | +17.1% | +3.3% | +18.3% | +38.6% | +32.1% | −32.8% | +9.3% | +0.9% | −40.4% | +20.0% | +26.8% | −1.2% | +4.8% | +45.2% | −38.9% | −23.4% | +42.7% | +1.6% | +41.6% | +75.3% |
| CFG Citizens Financial Group, Inc. | 4 of 11 | +38.6% | +38.0% | −11.0% | −13.4% | +37.1% | −6.7% | +41.9% | −27.5% | +19.9% | +38.7% | +7.1% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| UMBF UMB Financial Corporation | 14 of 29 | +3.5% | +37.3% | +2.2% | −20.0% | +56.0% | +2.6% | +14.7% | −13.9% | −5.4% | +68.4% | −16.7% | −10.1% | +49.0% | +19.9% | −8.2% | +7.4% | −18.4% | +29.9% | +6.7% | +16.0% | +14.5% | +21.2% | +26.6% | −2.4% | +14.1% | +1.2% | −7.7% | −14.5% | +43.8% |
| BLK BlackRock, Inc. | 13 of 26 | +6.6% | +29.3% | +17.9% | −20.4% | +29.4% | +47.2% | +31.9% | −21.6% | +38.2% | +14.6% | −2.4% | +15.7% | +57.0% | +19.8% | −3.6% | −15.9% | +76.6% | −37.0% | +45.1% | +41.8% | +42.4% | +47.6% | +35.9% | −5.5% | −0.7% | +144% | — | — | — |
| RF Regions Financial Corporation | 13 of 29 | +20.2% | +27.0% | −5.7% | +2.4% | +39.4% | −1.6% | +33.3% | −20.6% | +22.9% | +53.7% | −7.0% | +8.7% | +40.2% | +66.7% | −38.1% | +32.7% | −31.6% | −64.0% | −33.7% | +15.0% | 0.0% | +26.8% | +21.3% | +21.3% | +20.5% | +23.2% | −32.4% | +2.0% | +71.9% |
| JPM JPMorgan Chase & Co. | 18 of 29 | +37.3% | +44.3% | +30.6% | −12.6% | +27.8% | −5.5% | +47.3% | −6.6% | +26.8% | +34.5% | +8.4% | +9.9% | +36.7% | +36.2% | −19.9% | +2.3% | +34.4% | −25.1% | −6.9% | +25.7% | +5.7% | +10.0% | +60.5% | −30.7% | −17.4% | −10.1% | +11.7% | +32.9% | +25.5% |
| FHN First Horizon Corporation | 11 of 29 | +22.1% | +47.7% | −39.5% | +54.0% | +32.6% | −18.4% | +30.6% | −32.3% | +2.0% | +40.3% | +8.8% | +18.4% | +19.7% | +24.3% | −31.8% | −12.1% | +29.0% | −38.0% | −53.8% | +13.8% | −7.0% | +1.3% | +26.6% | +2.1% | +27.8% | +5.9% | −23.4% | +16.5% | +82.0% |
| CFR Cullen/Frost Bankers, Inc. | 14 of 29 | −2.8% | +27.9% | −16.1% | +8.6% | +48.2% | −7.6% | +14.6% | −4.8% | +9.9% | +52.0% | −12.4% | −2.5% | +41.3% | +6.1% | −10.4% | +26.4% | +2.3% | +3.1% | −6.5% | +6.5% | +13.2% | +22.6% | +27.4% | +8.5% | −24.2% | +67.0% | −3.8% | −7.4% | +86.8% |
| ZION Zions Bancorporation, National Association | 12 of 29 | +11.6% | +28.2% | −6.3% | −20.0% | +49.1% | −13.2% | +31.0% | −18.2% | +19.3% | +59.3% | −3.5% | −4.4% | +40.6% | +31.7% | −32.7% | +89.2% | −47.3% | −45.4% | −42.0% | +11.2% | +13.3% | +13.3% | +59.0% | −24.0% | −14.5% | +7.7% | −4.0% | +38.9% | +77.6% |
| MTB M&T Bank Corporation | 12 of 29 | +10.4% | +41.7% | −1.7% | −2.9% | +24.3% | −22.2% | +21.6% | −14.6% | +10.8% | +32.2% | −1.3% | +10.4% | +21.3% | +33.2% | −9.1% | +34.8% | +23.1% | −27.0% | −31.5% | +14.2% | +2.8% | +11.6% | +25.6% | +10.4% | +8.6% | +66.3% | −19.4% | +12.5% | +62.8% |
| FNB F.N.B. Corporation | 11 of 29 | +19.5% | +10.9% | +9.8% | +11.8% | +32.8% | −20.8% | +34.3% | −26.2% | −10.8% | +24.6% | +3.9% | +9.6% | +23.8% | −1.9% | +20.9% | +53.6% | −44.8% | −3.1% | −14.7% | +11.5% | −10.4% | +13.0% | +39.6% | +13.2% | +35.9% | +2.3% | −15.0% | −19.5% | +75.6% |
| WTFC Wintrust Financial Corporation | 13 of 29 | +13.9% | +36.8% | +12.0% | −5.5% | +51.1% | −11.8% | +8.2% | −18.6% | +14.4% | +51.0% | +4.7% | +2.3% | +26.2% | +31.5% | −14.6% | +7.9% | +52.0% | −37.0% | −30.5% | −12.0% | −3.2% | +26.8% | +44.7% | +54.5% | +92.7% | +5.0% | −22.2% | +15.5% | +15.2% |
| KEY KeyCorp | 10 of 29 | +26.2% | +25.4% | −11.6% | −21.6% | +45.9% | −14.5% | +42.7% | −24.6% | +12.7% | +42.1% | −3.2% | +5.5% | +62.4% | +12.0% | −11.6% | +60.4% | −34.0% | −61.6% | −35.5% | +19.9% | +0.9% | +20.1% | +22.1% | +8.1% | −8.8% | +33.9% | −28.4% | −7.1% | +44.5% |
| WFC Wells Fargo & Company | 12 of 29 | +35.6% | +46.5% | +22.9% | −11.9% | +61.1% | −41.6% | +21.4% | −21.8% | +13.2% | +4.7% | +1.8% | +24.1% | +36.7% | +27.3% | −9.6% | +15.7% | −6.3% | +1.7% | −12.1% | +16.9% | +4.5% | +9.0% | +29.5% | +10.3% | −20.2% | +40.5% | +3.3% | +5.1% | +81.9% |
| BOKF BOK Financial Corporation | 13 of 29 | +13.8% | +27.2% | −15.3% | +0.6% | +57.6% | −19.0% | +22.1% | −19.0% | +13.6% | +43.0% | +2.2% | −7.2% | +24.8% | +3.6% | +5.2% | +14.7% | +20.3% | −20.5% | −4.6% | +22.4% | −6.2% | +29.7% | +23.2% | +5.8% | +52.8% | +5.2% | −11.7% | +25.1% | +48.0% |
| BAC Bank of America Corporation | 14 of 29 | +28.0% | +33.9% | +4.9% | −23.8% | +49.6% | −11.6% | +46.1% | −15.0% | +35.7% | +33.4% | −4.8% | +15.7% | +34.5% | +109% | −58.1% | −11.2% | +7.6% | −63.1% | −18.9% | +20.8% | +2.4% | +21.5% | +20.1% | +14.6% | +42.7% | −4.5% | −14.0% | +1.2% | +27.3% |
| USB U.S. Bancorp | 14 of 29 | +16.4% | +15.6% | +4.8% | −19.1% | +24.3% | −17.9% | +33.6% | −12.4% | +6.6% | +23.4% | −2.8% | +13.8% | +29.6% | +20.9% | +2.3% | +20.7% | −9.0% | −16.6% | −8.0% | +26.3% | −0.5% | +10.6% | +45.3% | +5.3% | −6.8% | +13.2% | −30.5% | +64.5% | +90.1% |
| CBSH Commerce Bancshares, Inc. | 14 of 29 | −10.1% | +24.7% | −16.0% | +5.7% | +11.5% | +3.4% | +29.0% | +7.7% | +3.3% | +45.9% | +5.3% | +4.1% | +37.9% | +4.5% | +3.8% | +11.2% | −4.1% | +6.2% | 0.0% | +0.1% | +11.8% | +10.0% | +34.4% | +7.9% | −6.8% | +35.0% | −14.5% | +0.3% | +57.2% |
| TFC Truist Financial Corporation | 11 of 29 | +19.1% | +23.7% | −8.6% | −23.5% | +26.1% | −11.1% | +34.6% | −10.2% | +8.7% | +28.4% | −0.1% | +6.9% | +32.7% | +18.6% | −1.9% | +5.9% | −2.0% | −4.5% | −27.2% | +8.9% | +3.4% | +12.8% | +8.1% | +5.6% | −0.4% | +40.6% | −30.6% | +28.5% | +81.3% |
| WAL Western Alliance Bancorporation | 9 of 20 | +2.5% | +29.7% | +14.1% | −43.7% | +81.7% | +7.7% | +45.9% | −30.3% | +16.2% | +35.8% | +29.0% | +16.5% | +127% | +69.0% | −15.3% | +94.5% | −62.5% | −46.2% | −46.0% | +16.4% | — | — | — | — | — | — | — | — | — |
| HBAN Huntington Bancshares Incorporated | 11 of 29 | +10.8% | +33.7% | −4.6% | −4.5% | +27.1% | −11.2% | +31.8% | −15.2% | +12.9% | +23.0% | +7.5% | +11.6% | +54.1% | +19.5% | −18.4% | +89.5% | −51.5% | −44.2% | −34.3% | +4.3% | −0.4% | +13.4% | +24.3% | +12.5% | +11.0% | −22.1% | −10.1% | −5.8% | +54.1% |
Risk and diversification
How PNC 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 PNC's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents PNC's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
- In all four of PNC's worst declines, the S&P 500 held up better over the same dates.
- The slowest recovery came after PNC fell 76.7% from September 2008 to March 2009; it did not regain that peak until July 2013, four years later.
Green means PNC fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | PNC fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2008 financial crisis | −76.7% | −44.0% | Sep 2008 | Mar 2009 | 6 months | Jul 2013 | 4.3 years |
| No named crash | −64.9% | — | Sep 1989 | Oct 1990 | 13 months | Aug 1991 | 10 months |
| Dot-com bust | −49.6% | −38.9% | Feb 2001 | Jul 2002 | 17 months | Nov 2005 | 3.3 years |
| Covid crash | −49.6% | −30.6% | Dec 2019 | Mar 2020 | 3 months | Jan 2021 | 10 months |
| 2022 bear market | −48.0% | −9.6% | Jan 2022 | May 2023 | 16 months | Nov 2024 | 18 months |
How did PNC do in stock market crashes?
This section measures how far PNC, 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.
- PNC 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 PNC fell 76.7% and the S&P 500 fell 55.2%.
- Among its popular alternatives, CBSH held up best, falling less than PNC in nine of the ten crashes they both traded through.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than PNC.
| Investment | Held up better | 2023 regional bank crisisMar 2023 | 2022 bear marketJan 2022 | Covid crashFeb 2020 | Late-2018 sell-offSep 2018 | February 2018 volatility shockFeb 2018 | 2015 China and oil sell-offAug 2015 | 2011 euro debt crisisJul 2011 | 2010 flash crashMay 2010 | 2008 financial crisisOct 2007 | Dot-com bustMar 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PNC This pageThe PNC Financial Services Group, Inc. | — | −10.4% | −34.0% | −47.8% | −23.2% | −5.4% | −20.8% | −24.1% | −0.4% | −76.7% | −49.6% |
| SPY S&P 500State Street SPDR S&P 500 ETF | 8 of 10 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| EWBC East West Bancorp, Inc. | 3 of 10 | −28.9% | −33.1% | −43.9% | −35.2% | −5.0% | −39.0% | −28.0% | −5.7% | −91.3% | −36.6% |
| FITB Fifth Third Bancorp | 1 of 10 | −22.1% | −36.5% | −60.9% | −23.8% | −6.1% | −34.9% | −28.9% | −2.3% | −96.9% | −22.0% |
| BNY Bank of New York Mellon Corp | 3 of 10 | −11.4% | −40.5% | −40.1% | −16.2% | −5.4% | −27.0% | −30.9% | −0.5% | −62.4% | −62.6% |
| CFG Citizens Financial Group, Inc. | 0 of 6 | −19.5% | −39.7% | −60.5% | −31.3% | −8.3% | −32.8% | — | — | — | — |
| UMBF UMB Financial Corporation | 5 of 10 | −24.1% | −25.7% | −37.1% | −20.1% | −5.6% | −25.3% | −28.7% | 0.0% | −50.5% | −26.8% |
| BLK BlackRock, Inc. | 5 of 10 | −7.2% | −40.8% | −42.3% | −25.2% | −7.1% | −19.9% | −23.9% | 0.0% | −60.4% | −33.0% |
| RF Regions Financial Corporation | 2 of 10 | −12.6% | −27.1% | −55.1% | −34.8% | −7.0% | −33.7% | −52.9% | −2.7% | −91.3% | −24.4% |
| JPM JPMorgan Chase & Co. | 4 of 10 | −5.4% | −37.9% | −42.5% | −21.3% | −5.6% | −22.0% | −32.1% | −0.1% | −67.7% | −74.0% |
| FHN First Horizon Corporation | 2 of 10 | −24.9% | −11.9% | −57.1% | −30.8% | −6.3% | −27.4% | −40.8% | −0.6% | −80.4% | −24.7% |
| CFR Cullen/Frost Bankers, Inc. | 5 of 10 | −18.0% | −21.3% | −47.4% | −23.9% | −4.4% | −41.5% | −19.8% | −0.7% | −40.6% | −43.8% |
| ZION Zions Bancorporation, National Association | 1 of 10 | −35.8% | −33.9% | −47.9% | −26.3% | −6.4% | −36.6% | −41.6% | −3.3% | −90.6% | −43.6% |
| MTB M&T Bank Corporation | 6 of 10 | −9.4% | −18.0% | −47.6% | −21.1% | −5.7% | −23.2% | −23.1% | −0.2% | −69.6% | −23.9% |
| FNB F.N.B. Corporation | 5 of 10 | −8.0% | −22.9% | −52.3% | −28.3% | −6.2% | −23.2% | −20.4% | −5.0% | −68.6% | −17.0% |
| WTFC Wintrust Financial Corporation | 2 of 10 | −18.4% | −26.7% | −62.7% | −30.2% | −7.3% | −28.9% | −28.0% | −3.2% | −77.4% | −28.1% |
| KEY KeyCorp | 1 of 10 | −34.2% | −40.6% | −58.8% | −32.9% | −7.7% | −32.5% | −31.7% | −1.1% | −82.9% | −25.5% |
| WFC Wells Fargo & Company | 4 of 10 | −12.4% | −36.3% | −47.1% | −20.1% | −13.5% | −20.9% | −21.1% | −1.2% | −79.0% | −29.2% |
| BOKF BOK Financial Corporation | 3 of 10 | −11.9% | −37.8% | −56.3% | −32.2% | −5.2% | −37.7% | −19.7% | −0.7% | −61.6% | −23.2% |
| BAC Bank of America Corporation | 1 of 10 | −12.4% | −38.7% | −47.8% | −26.4% | −6.9% | −37.8% | −45.2% | −0.6% | −93.4% | −36.3% |
| USB U.S. Bancorp | 5 of 10 | −19.7% | −36.8% | −47.2% | −20.4% | −7.5% | −17.7% | −24.7% | −1.2% | −76.1% | −42.8% |
| CBSH Commerce Bancshares, Inc. | 9 of 10 | −7.7% | −14.4% | −33.8% | −18.4% | −4.8% | −17.9% | −21.0% | −0.8% | −44.5% | −24.5% |
| TFC Truist Financial Corporation | 3 of 10 | −26.3% | −35.8% | −53.5% | −20.1% | −6.8% | −24.4% | −27.2% | 0.0% | −66.6% | −24.8% |
| WAL Western Alliance Bancorporation | 0 of 9 | −63.5% | −48.3% | −61.9% | −36.6% | −5.4% | −29.4% | −36.3% | −4.8% | −83.6% | — |
| HBAN Huntington Bancshares Incorporated | 2 of 10 | −23.0% | −31.3% | −49.6% | −28.3% | −6.1% | −31.7% | −26.2% | −3.6% | −93.9% | −37.2% |
How closely does PNC 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 PNC with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- JPM took just 103% of the S&P 500's losses, against 127% for PNC, while still keeping 117% of its gains.
- Over the past 10 years, PNC captured 108% of the S&P 500's gains in rising months and 127% of its losses in falling months, with a beta of 1.15. It amplified the market's moves in both directions.
- Nine of the 23 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than PNC's 0.85, led by JPM, CFR and BNY.
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 PNC's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| PNC This pageThe PNC Financial Services Group, Inc. | 108% | 127% | 0.85 | 1.15 |
| JPM JPMorgan Chase & Co. | 117% | 103% | 1.14 | 1.09 |
| CFR Cullen/Frost Bankers, Inc. | 75% | 77% | 0.97 | 0.97 |
| BNY Bank of New York Mellon Corp | 115% | 120% | 0.96 | 1.08 |
| EWBC East West Bancorp, Inc. | 111% | 118% | 0.94 | 1.39 |
| CBSH Commerce Bancshares, Inc. | 59% | 64% | 0.92 | 0.77 |
| FITB Fifth Third Bancorp | 102% | 114% | 0.89 | 1.22 |
| RF Regions Financial Corporation | 113% | 127% | 0.89 | 1.26 |
| MTB M&T Bank Corporation | 75% | 86% | 0.87 | 0.86 |
| BAC Bank of America Corporation | 127% | 146% | 0.87 | 1.36 |
| UMBF UMB Financial Corporation | 82% | 97% | 0.85 | 0.92 |
| CFG Citizens Financial Group, Inc. | 118% | 140% | 0.84 | 1.37 |
| FHN First Horizon Corporation | 66% | 79% | 0.83 | 1.03 |
| WTFC Wintrust Financial Corporation | 97% | 117% | 0.83 | 1.20 |
| BLK BlackRock, Inc. | 127% | 157% | 0.81 | 1.30 |
| ZION Zions Bancorporation, National Association | 97% | 122% | 0.79 | 1.17 |
| HBAN Huntington Bancshares Incorporated | 89% | 116% | 0.76 | 1.13 |
| KEY KeyCorp | 100% | 132% | 0.75 | 1.28 |
| WFC Wells Fargo & Company | 96% | 129% | 0.75 | 1.13 |
| BOKF BOK Financial Corporation | 92% | 123% | 0.75 | 1.13 |
| FNB F.N.B. Corporation | 81% | 110% | 0.73 | 1.09 |
| USB U.S. Bancorp | 89% | 130% | 0.69 | 1.05 |
| WAL Western Alliance Bancorporation | 117% | 169% | 0.69 | 1.52 |
| TFC Truist Financial Corporation | 86% | 126% | 0.68 | 1.11 |
What diversifies PNC?
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 PNC's. Because such investments tend not to fall at the same time, pairing PNC with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in PNC into GLD would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (+6.4% for PNC alone, +9.6% for the mix).
- Among large ETFs, DXJ, GCOW and FTLS have moved largely independently of PNC over the past 5 years, with correlations of 0.49 or lower, and each still earned a positive 5-year return.
- MCK made money in six of the ten calendar years in which PNC lost money.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which PNC lost money. The last two columns show a portfolio that is 80% PNC and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2020 | 2018 | 2011 | 2008 | 2007 | 2002 | 2001 | 1999 | 1998 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PNC The PNC Financial Services Group, Inc. (this page) | 1.00 | +25.1% | 0.30 | −18.6% | −2.8% | −17.0% | −3.1% | −22.2% | −8.3% | −22.5% | −20.7% | −15.0% | −2.2% | 27.6% | +6.4% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.18 | +225% | 1.34 | +6.0% | +3.9% | −19.8% | −16.1% | −20.8% | −7.4% | — | — | — | — | 22.7% | +11.0% |
| GCOW InternationalPacer Global Cash Cows Dividend ETF | 0.49 | +93.4% | 1.04 | +5.5% | −4.3% | −8.0% | — | — | — | — | — | — | — | 23.7% | +8.3% |
| FTLS Broad MarketFirst Trust Long/Short Equity ETF | 0.48 | +62.9% | 0.99 | −5.6% | +2.6% | −4.8% | — | — | — | — | — | — | — | 22.9% | +7.8% |
| SMH TechnologyVanEck Semiconductor ETF | 0.27 | +323% | 0.97 | −33.5% | +55.5% | −9.1% | +6.8% | −44.7% | +6.0% | −47.0% | −14.6% | — | — | 24.9% | +13.3% |
| GLD CommoditiesSPDR Gold Shares | -0.03 | +126% | 0.96 | −0.8% | +24.8% | −1.9% | +9.6% | +4.9% | +30.4% | — | — | — | — | 22.2% | +9.6% |
| IOO InternationaliShares Global 100 ETF | 0.43 | +107% | 0.94 | −16.3% | +18.6% | −6.3% | −4.1% | −36.1% | +11.1% | −24.0% | −14.3% | — | — | 23.5% | +9.0% |
| SPMO Broad MarketInvesco S&P 500 Momentum ETF | 0.46 | +136% | 0.93 | −10.4% | +28.2% | −0.9% | — | — | — | — | — | — | — | 24.2% | +9.9% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.41 | +177% | 0.93 | +64.4% | −32.7% | −18.2% | +2.8% | −39.0% | +36.8% | −14.8% | −18.2% | +18.1% | — | 24.7% | +10.3% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2020 | 2018 | 2011 | 2008 | 2007 | 2002 | 2001 | 1999 | 1998 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PNC The PNC Financial Services Group, Inc. (this page) | 1.00 | +25.1% | 0.30 | −18.6% | −2.8% | −17.0% | −3.1% | −22.2% | −8.3% | −22.5% | −20.7% | −15.0% | −2.2% | 27.6% | +6.4% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.21 | +479% | 1.55 | +54.1% | +10.1% | −24.5% | +8.1% | −39.6% | −9.8% | −8.3% | −2.5% | −36.8% | +51.7% | 23.7% | +13.1% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.26 | +3,143% | 1.47 | +1.3% | −2.4% | −16.3% | −24.4% | −20.5% | −25.7% | −65.1% | −25.6% | +350% | — | 27.5% | +25.1% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.31 | +1,636% | 1.46 | +17.0% | +6.7% | +0.8% | −17.0% | −15.2% | +2.1% | −9.4% | +73.7% | −58.7% | −9.5% | 26.3% | +21.3% |
| MCK Medical - DistributionMcKesson Corporation | 0.07 | +413% | 1.44 | +51.8% | +27.1% | −28.4% | +11.8% | −40.4% | +29.7% | −27.2% | +4.9% | −71.3% | +46.9% | 23.0% | +12.7% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.22 | +690% | 1.41 | +86.6% | −27.4% | −8.2% | — | — | — | — | — | — | — | 24.3% | +15.0% |
Common questions
What was PNC's worst drawdown?
PNC's deepest decline since it began trading in 1986 was 76.7%, from September 2008 to March 2009. It took about four years from the low to climb back to its old high.
What were PNC's best and worst years?
Over 29 full calendar years, PNC's best year was 2000, when it returned 70.4%. Its worst was 2002, with a return of -22.5%.
Is there a better investment than PNC?
Among PNC's popular alternatives, JPM and BNY earned more than PNC with less volatility over the past 5 years. JPM returned 17.3% a year at 24.3% volatility, against 4.6% a year at 26.8%. Looking beyond its popular alternatives, V (payment processing) and TD (banks) earned more than PNC with less volatility over the past 5 years. V returned 12.8% a year at 22.9% volatility, against 4.6% a year at 26.8%.
Is PNC more volatile than the S&P 500?
Yes. PNC's volatility over the past 5 years was 26.8%, 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, PNC's return lands within 26.8% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.
What is PNC's Sharpe ratio?
PNC's Sharpe ratio over the past 5 years was 0.30, against 0.79 for the S&P 500, so PNC 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 PNC with the S&P 500?
Over the past 5 years, PNC's monthly returns had a correlation of 0.53 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against PNC instead: the lower it is, the more that option would diversify a PNC holding.
What are the best alternatives to PNC?
Of the 23 popular alternatives we compared, seven outperformed PNC in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: EWBC, FITB and BNY.
Did PNC outperform the S&P 500?
PNC finished ahead of the S&P 500 (SPY) in 15 of 29 full calendar years. In 2025, it returned +12.2%, against +17.7% for the index.
How did PNC do in stock market crashes?
PNC 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 PNC fell 76.7% and the S&P 500 fell 55.2%.
What diversifies PNC?
These had a low correlation with PNC over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.18), GCOW (correlation 0.49) and FTLS (correlation 0.48); among large stocks, CAH (correlation 0.21), CLS (correlation 0.26) and FIX (correlation 0.31). A correlation near zero means the two have moved largely independently.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y; long-term periods are 3Y, 5Y, 10Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than PNC's. Returns within 0.5 points or 3% of PNC's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
More research
Popular alternatives to PNC
- FITBFifth Third Bancorp
- BNYBank of New York Mellon
- BLKBlackRock
- JPMJPMorgan Chase & Co.
WFCWells Fargo & Company
BACBank of America
USBU.S. Bancorp
TFCTruist Financial
NVDA
AAPL
GOOG