# How Sea (SE) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/se
> 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 SE alone. It places SE (Sea Limited) 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 SE stands in the market, and of the alternatives worth a closer look.

Period covered: SE's full trading record, from October 2017 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** SE has gone against the market, falling 23.9% over the past 3 months while the S&P 500 rose 3.9%. SE is 78.1% below its high, bear-market territory, while the S&P 500 sits 1.3% below a record.
- **Stock or market?:** The weakness is SE's own: it fell 23.9% over the past 3 months while the consumer discretionary sector ETF XLY (State Street Consumer Discretionary Select Sector SPDR ETF) rose 1.0%. The S&P 500 rose 3.9%. Its e-commerce peers did not move as one over the past 3 months: SHOP (Shopify) rose 39.4%, while BIDU (Baidu) fell 26.7%.
- **Past 1 to 3 years:** Over the past year, SE fell 51.5% while the S&P 500 rose 15.8%. The same gap shows up over 3 years (80.3% against 89.3%). On the flip side, the past 3 years (ahead of 63% of the stocks worth at least $300 million) have been far stronger than the record over 5 years (behind 94% of them).
- **Long term:** SE turned $10,000 into $2,230 over the past 5 years, against $18,200 in the S&P 500. SE's 5-year loss of 77.7% puts it behind 94% of the stocks worth at least $300 million with that much history. The S&P 500 returned 81.7%.
- **In a crash:** The 2022 bear market took 73.3% off SE, against 24.5% for the S&P 500. That was more than AMZN (Amazon.com, 39.6%) but less than SHOP (Shopify, 79.0%). SE fell further than the S&P 500 in two of the last three sell-offs, including the 2022 bear market (73.3% against 24.5%).
- **Diversification:** Over 5 years SE took more of the market's losses than of its gains: in the S&P 500's rising months it gained 81% as much as the index, and in falling months it lost 2.8 times as much, with a beta of 1.54.
- **Better options**
  - **Nearby categories and themes:** AAPL (Apple, digital payments theme) and GOOG (Alphabet, internet services) earned more than SE with less volatility over the past 5 years. AAPL returned 18.5% a year at 28.0% volatility, against a loss of 25.9% a year at 64.6%.
  - **Whole market:** 3,128 of the 3,633 stocks and funds worth at least $500 million earned more than SE with less volatility over the past 5 years, among them NVDA (NVIDIA), AAPL (Apple) and GOOG (Alphabet).

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

This chart tracks a hypothetical $10,000 investment in SE over the past 8 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of SE over the same span and SE's popular alternatives, among those that traded for the entire period.

- $10,000 invested in SE at the end of September 2018 would have grown to $70,395 by September 2026, more than the $29,568 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of SE, and STX finished highest, at $259,443.

## SE 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.

- SE is still 78.1% below its all-time high.
- SE's deepest decline since it began trading in 2017 was 90.5%, from October 2021 to January 2024. It has not yet climbed back to that peak.
- Over eight full calendar years, SE's best was 2020, when it returned 395%, and its worst was 2022, when it lost 76.7%. It lost money in three of those years.

- Type: Stock, Consumer Discretionary (Specialty Retail)
- Trading since: October 20, 2017
- Market value: $49B
- Volatility (5 years): 64.6%; Sharpe ratio: -0.14
- Worst decline ever: −90.5%, from October 19, 2021 to January 17, 2024; not yet back at its high

| Period | SE total return |
| --- | --- |
| 1 month | −21.6% |
| 3 months | −23.9% |
| 6 months | −10.0% |
| year to date | −38.8% |
| 1 year | −51.5% |
| 3 years | +80.3% |
| 5 years | −77.7% |

## SE against the whole market

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

### How does SE rank among all stocks?

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

- SE's 1-year return ranks in the bottom 5% of the 3,287 stocks worth at least $300 million with 1 year of history.

| Measure | SE | Rank |
| --- | --- | --- |
| 1-year return | −51.5% | 3,123 of 3,287 (top 96%) |
| 3-year return | +80.3% | 1,127 of 3,017 (top 38%) |
| 5-year return | −77.7% | 2,716 of 2,893 (top 94%) |
| Volatility, 5 years | 64.6% | 2,394 of 2,893 (top 83%) |
| Sharpe ratio, 5 years | -0.14 | 2,614 of 2,893 (top 91%) |

### What has beaten SE 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).

- 2,123 stocks and 1,005 ETFs worth at least $500 million sit in the green region: each earned more than SE over the past 5 years with smaller price swings. That is 86% of the 3,633 screened.
- Among those with at least half SE's swings, CLS has the best return for its risk: 101% a year at 59.7% volatility, 8% less than SE's 64.6%, and a Sharpe ratio (return above cash per unit of volatility) of 1.47 against -0.14 for SE.
- Among SE's popular alternatives, V, MA and EBAY are in the region. V earned 12.8% a year against a loss of 25.9% a year for SE, at 22.9% volatility, 65% less than SE's 64.6%.

### Is there a better investment than SE?

The table below lists investments that beat SE 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 SE's popular alternatives, AMZN, EBAY and EEM earned more than SE with less volatility over the past 5 years. AMZN returned 9.0% a year at 36.6% volatility, against a loss of 25.9% a year at 64.6%.
- Looking beyond its popular alternatives, AAPL (digital payments theme) and GOOG (internet services) earned more than SE with less volatility over the past 5 years. AAPL returned 18.5% a year at 28.0% volatility, against a loss of 25.9% a year at 64.6%.
- Across the whole market, 3,128 of the 3,633 stocks and funds worth at least $500 million earned more than SE with less volatility over the past 5 years, among them NVDA, AAPL and GOOG.

The 15 strongest of 3,128 investments that beat SE 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) | 5Y return | Correlation with SE | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| SE: Sea Limited (this page) |  | −25.9% | 64.6% | -0.14 | −90.5% | −77.7% |  |  |
| [TSM](https://easycompare.io/research/tsm): Taiwan Semiconductor Manufacturing Company Limited | Semiconductors | +31.5% | 38.5% | 0.91 | −56.6% | +293% | 0.30 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | Pharmaceuticals | +40.7% | 32.8% | 1.21 | −34.5% | +451% | -0.09 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [WMT](https://easycompare.io/research/wmt): Walmart Inc. | Discount Retail | +20.8% | 22.6% | 0.96 | −25.7% | +158% | 0.22 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [HSBC](https://easycompare.io/research/hsbc): HSBC Holdings plc | Banks | +33.1% | 25.9% | 1.24 | −62.3% | +318% | 0.25 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | Pharmaceuticals | +12.7% | 17.9% | 0.76 | −27.4% | +82.1% | -0.05 | 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% | +123% | 0.36 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [STX](https://easycompare.io/research/stx): Seagate Technology Holdings plc | Computer Hardware | +57.4% | 48.7% | 1.18 | −57.0% | +866% | 0.17 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [GILD](https://easycompare.io/research/gild): Gilead Sciences, Inc. | Biotechnology | +22.8% | 24.9% | 0.95 | −30.5% | +180% | 0.02 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | Gold | +17.7% | 18.9% | 0.96 | −26.4% | +126% | 0.25 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [COR](https://easycompare.io/research/cor): Cencora, Inc. | Health Care Distribution | +24.2% | 22.8% | 1.07 | −32.4% | +195% | 0.12 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [NEM](https://easycompare.io/research/nem): Newmont Corporation | Gold Mining | +18.6% | 39.1% | 0.63 | −62.4% | +135% | 0.22 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +122% | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MPC](https://easycompare.io/research/mpc): Marathon Petroleum Corporation | Oil & Gas | +51.2% | 33.4% | 1.41 | −79.7% | +690% | 0.14 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [PBR-A](https://easycompare.io/research/pbr-a): Petróleo Brasileiro S.A. - Petrobras | Integrated Oil & Gas | +51.8% | 37.5% | 1.31 | −71.7% | +705% | -0.12 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [NVDA](https://easycompare.io/research/nvda): NVIDIA Corporation | Semiconductors | +58.0% | 51.9% | 1.14 | −66.3% | +884% | 0.35 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## SE against its popular alternatives

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

### How do SE'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.

- 14 of the 19 popular alternatives, led by V, MA and EBAY, were both more rewarding and calmer than SE over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, SE returned -25.9% a year, less than the S&P 500's 12.7%, with higher volatility (64.6% against 17.1%).

### Has SE consistently beaten its popular alternatives?

This section compares SE with the investments people most often weigh against it, checking each one over seven periods from one month to five years.

- Four of the 20 popular alternatives, led by EBAY, AMZN and EEM, outperformed SE in at least 3 of 5 short-term and 2 of 2 long-term timeframes.
- EBAY, AMZN and EEM outperformed SE in every long-term period and in all but one short-term period, the most consistent record in the group.
- V, MA and EBAY earned more for the risk they took than SE (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | Periods ahead of SE | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- |
| SE: Sea Limited (this page) | −51.5% | +80.3% | −77.7% |  |  | -0.14 |
| [EBAY](https://easycompare.io/research/ebay): eBay Inc. | +28.3% | +213% | +74.2% | 5/5 short-term, 2/2 long-term | all-weather | 0.50 |
| [AMZN](https://easycompare.io/research/amzn): Amazon.com, Inc. | +21.3% | +110% | +53.8% | 5/5 short-term, 2/2 long-term | all-weather | 0.42 |
| EEM: iShares MSCI Emerging Markets ETF | +17.6% | +84.9% | +35.7% | 5/5 short-term, 2/2 long-term | all-weather | 0.41 |
| [SHOP](https://easycompare.io/research/shop): Shopify Inc. | +5.3% | +239% | +16.6% | 5/5 short-term, 2/2 long-term | all-weather | 0.38 |
| [V](https://easycompare.io/research/v): Visa Inc. | +19.0% | +78.2% | +82.5% | 5/5 short-term, 1/2 long-term |  | 0.64 |
| [MA](https://easycompare.io/research/ma): Mastercard Incorporated | +10.3% | +64.3% | +79.2% | 5/5 short-term, 1/2 long-term |  | 0.61 |
| [NTES](https://easycompare.io/research/ntes): NetEase, Inc. | −16.2% | +34.1% | +37.6% | 5/5 short-term, 1/2 long-term |  | 0.36 |
| [MELI](https://easycompare.io/research/meli): MercadoLibre, Inc. | −10.6% | +60.7% | +17.2% | 5/5 short-term, 1/2 long-term |  | 0.31 |
| GLBE: Global-e Online Ltd. | +25.5% | +19.4% | −35.6% | 5/5 short-term, 1/2 long-term |  | 0.20 |
| ETSY: Etsy, Inc. | +22.5% | +34.7% | −62.5% | 5/5 short-term, 1/2 long-term |  | -0.08 |
| STNE: StoneCo Ltd. | −21.7% | +46.8% | −63.0% | 5/5 short-term, 1/2 long-term |  | 0.02 |
| PAGS: PagSeguro Digital Ltd. | +38.4% | +73.1% | −66.9% | 5/5 short-term, 1/2 long-term |  | -0.07 |
| DLO: Dlocal Limited | +2.5% | −10.3% | −69.4% | 5/5 short-term, 1/2 long-term |  | 0.04 |
| [NU](https://easycompare.io/research/nu): Nu Holdings Ltd. | −2.1% | +84.7% | — | 5/5 short-term, 1/2 long-term |  | — |
| [PDD](https://easycompare.io/research/pdd): PDD Holdings Inc. | −38.0% | −20.6% | −17.9% | 4/5 short-term, 1/2 long-term |  | 0.26 |
| [BABA](https://easycompare.io/research/baba): Alibaba Group Holding Limited | −36.8% | +44.5% | −34.8% | 4/5 short-term, 1/2 long-term |  | 0.08 |
| JD: JD.com, Inc. | −18.0% | +20.2% | −64.3% | 4/5 short-term, 1/2 long-term |  | -0.14 |
| GRAB: Grab Holdings Limited | −49.0% | −11.6% | −71.6% | 3/5 short-term, 1/2 long-term |  | -0.11 |
| CPNG: Coupang, Inc. | −54.8% | −18.9% | −50.3% | 2/5 short-term, 1/2 long-term |  | -0.01 |
| BIDU: Baidu, Inc. | −34.1% | −24.4% | −55.5% | 2/5 short-term, 1/2 long-term |  | -0.06 |

### How did SE do year by year?

This table shows each investment's total return in every full calendar year since 2018, along with where SE ranked among its popular alternatives each year.

- Ranked against its popular alternatives each year, SE finished in the top quarter in four of eight years and in the bottom quarter in two. In 2025, it ranked 11 of 21.
- None of the 16 popular alternatives came out ahead of SE in most of the years they have in common.
- SE finished ahead of the S&P 500 in four of its eight full calendar years, and ahead of it in each of the last two.

| Year | SE | SPY |
| --- | --- | --- |
| 2025 | +20.2% | +17.7% |
| 2024 | +162% | +24.9% |
| 2023 | −22.2% | +26.2% |
| 2022 | −76.7% | −18.2% |
| 2021 | +12.4% | +28.7% |
| 2020 | +395% | +18.3% |
| 2019 | +255% | +31.2% |
| 2018 | −15.1% | −4.6% |

## Risk and diversification

How SE 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 SE's worst declines?

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

- In all five of SE's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: SE fell 90.5% from October 2021 to January 2024, while the S&P 500 rose 8.5%.
- None of these declines kept SE below its old high for long; the longest climb back took three months.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −90.5% | October 19, 2021 | January 17, 2024 | not yet | +8.5% | 2022 bear market |
| −36.4% | October 20, 2017 | May 9, 2018 | June 1, 2018 | +5.8% | February 2018 volatility shock |
| −35.1% | July 6, 2018 | January 3, 2019 | February 27, 2019 | −10.4% | late-2018 sell-off |
| −29.5% | February 19, 2021 | March 24, 2021 | June 17, 2021 | −0.3% |  |
| −29.2% | August 2, 2019 | October 22, 2019 | November 26, 2019 | +2.7% |  |

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

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

- SE fell further than the S&P 500 in four of the five crashes it has traded through. The clearest case was the 2022 bear market, when SE fell 73.3% and the S&P 500 fell 24.5%.
- Among its popular alternatives, BABA held up best, falling less than SE in all five crashes they both traded through.
- SE began trading after the 2008 financial crisis, but seven of its popular alternatives lived through it. The mildest fall among them was NTES's 41.8%, against 55.2% for the S&P 500.

| Crash | Dates | SE fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | not trading | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | not trading | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | not trading | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | not trading | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −8.8% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −26.4% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −27.7% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −73.3% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −8.0% | −3.4% |

### How closely does SE 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.

- 12 of the 19 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than SE's 0.29, led by V, NTES and MA.
- V took just 64% of the S&P 500's losses, against 283% for SE, while still keeping 70% of its gains.
- Over the past 5 years, SE captured 81% of the S&P 500's gains in rising months and 283% of its losses in falling months, with a beta of 1.54. Its share of the market's losses was larger than its share of the gains.

Measured over the past 5 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| SE: Sea Limited (this page) | 81.0% | 283% | 1.54 |
| [EBAY](https://easycompare.io/research/ebay): eBay Inc. | 121% | 153% | 1.33 |
| [AMZN](https://easycompare.io/research/amzn): Amazon.com, Inc. | 125% | 170% | 1.45 |
| EEM: iShares MSCI Emerging Markets ETF | 72.0% | 80.0% | 0.74 |
| [SHOP](https://easycompare.io/research/shop): Shopify Inc. | 203% | 331% | 2.62 |
| [V](https://easycompare.io/research/v): Visa Inc. | 70.0% | 64.0% | 0.77 |
| [MA](https://easycompare.io/research/ma): Mastercard Incorporated | 80.0% | 84.0% | 0.76 |
| [NTES](https://easycompare.io/research/ntes): NetEase, Inc. | 72.0% | 73.0% | 0.67 |
| [MELI](https://easycompare.io/research/meli): MercadoLibre, Inc. | 84.0% | 146% | 1.31 |
| GLBE: Global-e Online Ltd. | 57.0% | 174% | 0.98 |
| ETSY: Etsy, Inc. | 52.0% | 221% | 1.85 |
| STNE: StoneCo Ltd. | 101% | 307% | 1.67 |
| PAGS: PagSeguro Digital Ltd. | 49.0% | 284% | 1.27 |
| DLO: Dlocal Limited | 13.0% | 183% | 0.87 |
| [PDD](https://easycompare.io/research/pdd): PDD Holdings Inc. | −1.0% | 17.0% | -0.04 |
| [BABA](https://easycompare.io/research/baba): Alibaba Group Holding Limited | 76.0% | 167% | 0.48 |
| JD: JD.com, Inc. | 8.0% | 122% | 0.33 |
| GRAB: Grab Holdings Limited | −19.0% | 112% | 0.90 |
| CPNG: Coupang, Inc. | 27.0% | 135% | 1.16 |
| BIDU: Baidu, Inc. | 51.0% | 161% | 0.59 |

### What diversifies SE?

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 SE into MCK would have cut the portfolio's volatility by 20% over the past 5 years and raised its annual return (-21.1% for SE alone, -8.9% for the mix).
- FIX made money in three of the three calendar years in which SE lost money.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of SE over the past 5 years, with correlations of 0.30 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with SE | 5Y return | Volatility | Sharpe | Rose in SE's 3 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.30 | +119% | 11.1% | 1.48 | 2 of 3 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.18 | +225% | 19.1% | 1.34 | 2 of 3 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.29 | +101% | 14.5% | 1.04 | 2 of 3 |
| HDV: iShares Core High Dividend ETF | 0.24 | +83.3% | 13.0% | 1.00 | 2 of 3 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.32 | +323% | 36.9% | 0.97 | 1 of 3 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.43 | +85.0% | 13.8% | 0.96 | 1 of 3 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.25 | +126% | 18.9% | 0.96 | 1 of 3 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.34 | +136% | 20.8% | 0.93 | 1 of 3 |

## Common questions

### What was SE's worst drawdown?

SE's deepest decline since it began trading in 2017 was 90.5%, from October 2021 to January 2024. It has not yet climbed back to that peak. Because SE launched in October 2017, that record does not include the dot-com bust, the 2008 financial crisis or three other sell-offs.

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

Over eight full calendar years, SE's best year was 2020, when it returned 395%. Its worst was 2022, with a return of -76.7%.

### Is there a better investment than SE?

Among SE's popular alternatives, AMZN, EBAY and EEM earned more than SE with less volatility over the past 5 years. AMZN returned 9.0% a year at 36.6% volatility, against a loss of 25.9% a year at 64.6%. Looking beyond its popular alternatives, AAPL (digital payments theme) and GOOG (internet services) earned more than SE with less volatility over the past 5 years. AAPL returned 18.5% a year at 28.0% volatility, against a loss of 25.9% a year at 64.6%.

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

Yes. SE's volatility over the past 5 years was 64.6%, 3.8 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, SE's return lands within 64.6% 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 SE's Sharpe ratio?

SE's Sharpe ratio over the past 5 years was -0.14, against 0.79 for the S&P 500, so SE 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 SE with the S&P 500?

Over the past 5 years, SE's monthly returns had a correlation of 0.43 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 SE instead: the lower it is, the more that option would diversify a SE holding.

### What are the best alternatives to SE?

Of the 20 popular alternatives we compared, four outperformed SE in at least 3 of 5 short-term and 2 of 2 long-term timeframes, with dividends reinvested: EBAY, AMZN and EEM.

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

SE finished ahead of the S&P 500 (SPY) in four of eight full calendar years. In 2025, it returned +20.2%, against +17.7% for the index.

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

SE fell less than the S&P 500 (SPY) in one of the five major crashes it has traded through, and further in four. The clearest case was the 2022 bear market, when SE fell 73.3% and the S&P 500 fell 24.5%.

### What diversifies SE?

These had a low correlation with SE over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.30), DXJ (correlation 0.18) and EMLP (correlation 0.29); among large stocks, CAH (correlation -0.03), CLS (correlation 0.13) and FIX (correlation 0.20). A correlation near zero means the two have moved largely independently.

## More research

- [EBAY Performance, Alternatives and Market Rank](https://easycompare.io/research/ebay)
- [Amazon.com (AMZN) Performance, Alternatives and Market Rank](https://easycompare.io/research/amzn)
- [Shopify (SHOP) Performance, Alternatives and Market Rank](https://easycompare.io/research/shop)
- [Visa (V) Performance, Alternatives and Market Rank](https://easycompare.io/research/v)
- [Mastercard (MA) Performance, Alternatives and Market Rank](https://easycompare.io/research/ma)
- [NetEase (NTES) Performance, Alternatives and Market Rank](https://easycompare.io/research/ntes)
- [MercadoLibre (MELI) Performance, Alternatives and Market Rank](https://easycompare.io/research/meli)
- [NU Performance, Alternatives and Market Rank](https://easycompare.io/research/nu)
- [PDD Performance, Alternatives and Market Rank](https://easycompare.io/research/pdd)
- [Alibaba Group Holding (BABA) Performance, Alternatives and Market Rank](https://easycompare.io/research/baba)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)

## Explore further

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