# How PNC Financial Services Group (PNC) compares with the whole market and its popular alternatives

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

## Key findings

- **Right now:** Over the past 3 months, PNC fell 10.8% while the S&P 500 rose 3.9%.
- **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 years:** PNC 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%).
- **Long term:** PNC turned $10,000 into $33,000 over the past decade, against $42,100 in the S&P 500.
- **In a crash:** Across 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%).
- **Diversification:** Against 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.
- **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.

- $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.

## 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.

- 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.

- Type: Stock, Financials (Banks - Regional)
- Trading since: October 20, 1986
- Market value: $88B
- Volatility (5 years): 26.8%; Sharpe ratio: 0.30
- Worst decline ever: −76.7%, from September 19, 2008 to March 6, 2009; back at its high by July 2, 2013

| Period | PNC total return |
| --- | --- |
| 1 month | −4.4% |
| 3 months | −10.8% |
| 6 months | −1.0% |
| year to date | +7.9% |
| 1 year | +25.3% |
| 3 years | +120% |
| 5 years | +25.1% |
| 10 years | +230% |

## 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.

- 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.

| Measure | PNC | Rank |
| --- | --- | --- |
| 1-year return | +25.3% | 1,095 of 3,287 (top 34%) |
| 3-year return | +120% | 773 of 3,017 (top 26%) |
| 5-year return | +25.1% | 1,389 of 2,893 (top 49%) |
| 10-year return | +230% | 770 of 2,202 (top 35%) |
| Volatility, 5 years | 26.8% | 466 of 2,893 (top 17%) |
| Sharpe ratio, 5 years | 0.30 | 1,543 of 2,893 (top 54%) |
| Worst decline, past 10 years | −49.6% | 448 of 2,187 (top 21%) |

### 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).

- 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%.

### Is there a better investment than PNC?

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.

- 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.

The 15 strongest of 763 investments that beat PNC 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 PNC | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| PNC: The PNC Financial Services Group, Inc. (this page) |  | +4.6% | 26.8% | 0.30 | −49.6% | +230% |  |  |
| [VTI](https://easycompare.io/research/vti): Vanguard Morningstar Total Stock Market ETF | US Total Market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.57 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VOO](https://easycompare.io/research/voo): Vanguard S&P 500 ETF | US Large-Cap Equity | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.53 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.38 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [COST](https://easycompare.io/research/cost): Costco Wholesale Corporation | Discount Retail | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.27 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | Pharmaceuticals | +16.3% | 24.8% | 0.74 | −43.4% | +241% | 0.11 | 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% | 0.40 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [CB](https://easycompare.io/research/cb): Chubb Limited | Property & Casualty Insurance | +15.7% | 20.4% | 0.82 | −42.6% | +248% | 0.50 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VIG](https://easycompare.io/research/vig): Vanguard Dividend Appreciation ETF | US Dividend Equity | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.62 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [SCHD](https://easycompare.io/research/schd): Schwab U.S. Dividend Equity ETF | US Dividend Equity | +9.7% | 14.3% | 0.72 | −33.4% | +252% | 0.67 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [IWF](https://easycompare.io/research/iwf): iShares Russell 1000 Growth ETF | US Large-Cap Growth | +11.7% | 21.8% | 0.62 | −32.7% | +416% | 0.35 | 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% | 0.23 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [ADP](https://easycompare.io/research/adp): Automatic Data Processing, Inc. | Business Services | +9.0% | 22.9% | 0.49 | −40.8% | +320% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [MSI](https://easycompare.io/research/msi): Motorola Solutions, Inc. | Communications Equipment | +14.8% | 23.6% | 0.71 | −32.8% | +625% | 0.31 | 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% | 0.17 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [FAST](https://easycompare.io/research/fast): Fastenal Company | Industrial Distribution | +15.8% | 24.6% | 0.72 | −30.7% | +576% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |

## 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.

- 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%).

### 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.

- 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.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of PNC | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| PNC: The PNC Financial Services Group, Inc. (this page) | +25.3% | +120% | +25.1% | +230% |  |  | 0.30 |
| EWBC: East West Bancorp, Inc. | +33.8% | +170% | +70.1% | +304% | 5/5 short-term, 3/3 long-term | all-weather | 0.48 |
| [FITB](https://easycompare.io/research/fitb): Fifth Third Bancorp | +29.6% | +151% | +38.9% | +255% | 5/5 short-term, 3/3 long-term | all-weather | 0.37 |
| [BNY](https://easycompare.io/research/bny): Bank of New York Mellon Corp | +35.3% | +272% | +179% | +341% | 4/5 short-term, 3/3 long-term | all-weather | 0.97 |
| CFG: Citizens Financial Group, Inc. | +31.5% | +205% | +55.0% | +266% | 3/5 short-term, 3/3 long-term | consistent | 0.43 |
| UMBF: UMB Financial Corporation | +20.2% | +129% | +41.7% | +158% | 4/5 short-term, 2/3 long-term | consistent | 0.38 |
| [BLK](https://easycompare.io/research/blk): BlackRock, Inc. | −0.6% | +96.3% | +41.1% | +313% | 3/5 short-term, 2/3 long-term | consistent | 0.39 |
| RF: Regions Financial Corporation | +20.5% | +120% | +45.7% | +278% | 3/5 short-term, 2/3 long-term | consistent | 0.40 |
| [JPM](https://easycompare.io/research/jpm): JPMorgan Chase & Co. | +13.0% | +150% | +122% | +537% | 2/5 short-term, 3/3 long-term |  | 0.78 |
| FHN: First Horizon Corporation | +15.4% | +141% | +58.2% | +113% | 2/5 short-term, 2/3 long-term |  | 0.44 |
| CFR: Cullen/Frost Bankers, Inc. | +28.4% | +99.0% | +39.9% | +181% | 5/5 short-term, 1/3 long-term |  | 0.38 |
| ZION: Zions Bancorporation, National Association | +28.1% | +139% | +17.9% | +167% | 5/5 short-term, 1/3 long-term |  | 0.29 |
| MTB: M&T Bank Corporation | +23.4% | +111% | +59.3% | +143% | 3/5 short-term, 1/3 long-term |  | 0.46 |
| FNB: F.N.B. Corporation | +17.3% | +81.9% | +71.6% | +101% | 3/5 short-term, 1/3 long-term |  | 0.52 |
| WTFC: Wintrust Financial Corporation | +17.3% | +107% | +73.1% | +212% | 2/5 short-term, 1/3 long-term |  | 0.51 |
| KEY: KeyCorp | +24.6% | +143% | +11.9% | +143% | 2/5 short-term, 1/3 long-term |  | 0.25 |
| [WFC](https://easycompare.io/research/wfc): Wells Fargo & Company | −2.4% | +119% | +85.0% | +141% | 2/5 short-term, 1/3 long-term |  | 0.57 |
| BOKF: BOK Financial Corporation | +17.3% | +85.5% | +42.1% | +128% | 1/5 short-term, 1/3 long-term |  | 0.40 |
| [BAC](https://easycompare.io/research/bac): Bank of America Corporation | −0.6% | +107% | +21.6% | +282% | 0/5 short-term, 1/3 long-term |  | 0.28 |
| [USB](https://easycompare.io/research/usb): U.S. Bancorp | +30.3% | +117% | +17.6% | +94.6% | 5/5 short-term, 0/3 long-term |  | 0.26 |
| CBSH: Commerce Bancshares, Inc. | +10.3% | +50.5% | +7.4% | +119% | 3/5 short-term, 0/3 long-term |  | 0.18 |
| [TFC](https://easycompare.io/research/tfc): Truist Financial Corporation | +13.6% | +102% | −5.7% | +82.7% | 2/5 short-term, 0/3 long-term |  | 0.12 |
| WAL: Western Alliance Bancorporation | +1.9% | +89.9% | −29.5% | +133% | 1/5 short-term, 0/3 long-term |  | 0.20 |
| HBAN: Huntington Bancshares Incorporated | +1.9% | +82.4% | +16.1% | +132% | 1/5 short-term, 0/3 long-term |  | 0.25 |

### 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.

- 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.

| Year | PNC | SPY |
| --- | --- | --- |
| 2025 | +12.2% | +17.7% |
| 2024 | +29.4% | +24.9% |
| 2023 | +2.7% | +26.2% |
| 2022 | −18.6% | −18.2% |
| 2021 | +38.2% | +28.7% |
| 2020 | −2.8% | +18.3% |
| 2019 | +40.9% | +31.2% |
| 2018 | −17.0% | −4.6% |
| 2017 | +26.0% | +21.7% |
| 2016 | +25.8% | +12.0% |

## 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.

- 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.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −76.7% | September 19, 2008 | March 6, 2009 | July 2, 2013 | −44.0% | 2008 financial crisis |
| −64.9% | September 19, 1989 | October 29, 1990 | August 13, 1991 | — |  |
| −49.6% | February 12, 2001 | July 23, 2002 | November 17, 2005 | −38.9% | dot-com bust |
| −49.6% | December 26, 2019 | March 23, 2020 | January 6, 2021 | −30.6% | Covid crash |
| −48.0% | January 13, 2022 | May 12, 2023 | November 6, 2024 | −9.6% | 2022 bear market |

### 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.

- 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.

| Crash | Dates | PNC fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −49.6% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −76.7% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −0.4% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −24.1% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −20.8% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −5.4% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −23.2% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −47.8% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −34.0% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −10.4% | −3.4% |

### 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.

- 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.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| PNC: The PNC Financial Services Group, Inc. (this page) | 108% | 127% | 1.15 |
| EWBC: East West Bancorp, Inc. | 111% | 118% | 1.39 |
| [FITB](https://easycompare.io/research/fitb): Fifth Third Bancorp | 102% | 114% | 1.22 |
| [BNY](https://easycompare.io/research/bny): Bank of New York Mellon Corp | 115% | 120% | 1.08 |
| CFG: Citizens Financial Group, Inc. | 118% | 140% | 1.37 |
| UMBF: UMB Financial Corporation | 82.0% | 97.0% | 0.92 |
| [BLK](https://easycompare.io/research/blk): BlackRock, Inc. | 127% | 157% | 1.30 |
| RF: Regions Financial Corporation | 113% | 127% | 1.26 |
| [JPM](https://easycompare.io/research/jpm): JPMorgan Chase & Co. | 117% | 103% | 1.09 |
| FHN: First Horizon Corporation | 66.0% | 79.0% | 1.03 |
| CFR: Cullen/Frost Bankers, Inc. | 75.0% | 77.0% | 0.97 |
| ZION: Zions Bancorporation, National Association | 97.0% | 122% | 1.17 |
| MTB: M&T Bank Corporation | 75.0% | 86.0% | 0.86 |
| FNB: F.N.B. Corporation | 81.0% | 110% | 1.09 |
| WTFC: Wintrust Financial Corporation | 97.0% | 117% | 1.20 |
| KEY: KeyCorp | 100% | 132% | 1.28 |
| [WFC](https://easycompare.io/research/wfc): Wells Fargo & Company | 96.0% | 129% | 1.13 |
| BOKF: BOK Financial Corporation | 92.0% | 123% | 1.13 |
| [BAC](https://easycompare.io/research/bac): Bank of America Corporation | 127% | 146% | 1.36 |
| [USB](https://easycompare.io/research/usb): U.S. Bancorp | 89.0% | 130% | 1.05 |
| CBSH: Commerce Bancshares, Inc. | 59.0% | 64.0% | 0.77 |
| [TFC](https://easycompare.io/research/tfc): Truist Financial Corporation | 86.0% | 126% | 1.11 |
| WAL: Western Alliance Bancorporation | 117% | 169% | 1.52 |
| HBAN: Huntington Bancshares Incorporated | 89.0% | 116% | 1.13 |

### 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).

- 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.

| Investment | Correlation with PNC | 5Y return | Volatility | Sharpe | Rose in PNC's 10 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.18 | +225% | 19.1% | 1.34 | 2 of 10 |
| GCOW: Pacer Global Cash Cows Dividend ETF | 0.49 | +93.4% | 13.6% | 1.04 | 1 of 10 |
| FTLS: First Trust Long/Short Equity ETF | 0.48 | +62.9% | 10.4% | 0.99 | 1 of 10 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.27 | +323% | 36.9% | 0.97 | 3 of 10 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | -0.03 | +126% | 18.9% | 0.96 | 4 of 10 |
| IOO: iShares Global 100 ETF | 0.43 | +107% | 17.2% | 0.94 | 2 of 10 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.46 | +136% | 20.8% | 0.93 | 1 of 10 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.41 | +177% | 25.5% | 0.93 | 4 of 10 |

## 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.

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## Explore further

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