Relative Intelligence · Specialty Chemicals
How Sherwin-Williams (SHW) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on SHW alone. It places SHW (The Sherwin-Williams Company) 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 SHW stands in the market, and of the alternatives worth a closer look.
Period covered: SHW'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 nowSHW has gone against the market, falling 1.8% over the past 6 months while the S&P 500 rose 9.1%. Not every peer went the same way. Over the past 6 months, NEU (NewMarket) rose 37.8% and RPM (RPM International) fell 7.7%. Consistency ↓
- Stock or market?SHW rose 4.1% over the past 3 months, in line with the specialty chemicals ETF XLB (State Street Materials Select Sector SPDR ETF), which rose 2.9%. The S&P 500 rose 3.9%. Its specialty chemical peers did not move as one over the past 3 months: SXT (Sensient Technologies) rose 23.7%, while PPG (PPG Industries) fell 5.5%.
- Past 1 to 3 yearsOver the past year, SHW rose 2.4% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (45.2% against 89.3%). The last two calendar years both went the same way: SHW fell 3.8% in 2025, against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. By year ↓
- Long termSHW turned $10,000 into $40,000 over the past decade, against $42,100 in the S&P 500. On the flip side, over the past decade, only HWKN (Hawkins) of its specialty chemical peers outpaced SHW. Growth of $10,000 ↓
- In a crashThe 2022 bear market took 39.7% off SHW, against 24.5% for the S&P 500. That was more than PPG (PPG Industries, 36.8%) but less than EMN (Eastman Chemical, 43.2%). SHW fell further than the S&P 500 in three of the last four sell-offs, including the 2022 bear market (39.7% against 24.5%). Crash tests ↓
- DiversificationSHW is some diversification, but not a hedge: a correlation of 0.58 with the S&P 500 over 5 years and 0.60 with the total US market, more closely than 88% of stocks worth at least $300 million. Over 10 years, SHW's beta versus the S&P 500 was 1.09: 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
- Nearby categories and themes
- LIN (Linde, chemicals) and CVX (Chevron, integrated oil & gas) earned more than SHW with less volatility over the past 5 years. LIN returned 11.5% a year at 20.9% volatility, against 3.1% a year at 27.1%.
- Whole market
- 850 of the 3,633 stocks and funds worth at least $500 million earned more than SHW 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 SHW have grown?
This chart tracks a hypothetical $10,000 investment in SHW over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of SHW over the same span and SHW'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 SHW at the end of September 1997 would have grown to $512,273 by September 2026, more 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 SHW, and BCPC finished highest, at $911,360.
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. 101 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of SHW; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- BCPC$911,360+9,014% total · +16.8% a year
- COST$727,732+7,177% total · +15.9% a year
- SXT$619,532+6,095% total · +15.3% a year
- LOW$546,874+5,369% total · +14.8% a year
- AMGN$526,909+5,169% total · +14.6% a year
- SHW$512,273+5,023% total · +14.5% a year
- HWKN$482,780+4,728% total · +14.3% a year
- NEU$344,538+3,345% total · +13.0% a year
- SPY (S&P 500)$132,907+1,229% total · +9.3% a year
- MAS$62,462+525% total · +6.5% 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. 2,113 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of SHW; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- HWKN$37,839+278% total · +30.5% a year
- NEU$29,325+193% total · +24.0% a year
- CVX$24,595+146% total · +19.7% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- LIN$17,312+73.1% total · +11.6% a year
- DHI$17,145+71.4% total · +11.4% a year
- DD$16,760+67.6% total · +10.9% a year
- SXT$15,886+58.9% total · +9.7% a year
- MAS$13,320+33.2% total · +5.9% a year
- SHW$12,093+20.9% total · +3.9% a year
SHW 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.
- SHW's deepest decline since it began trading in 1986 was 52.0%, from April 1998 to January 2000. It took about four years from the low to climb back to its old high.
- Over 29 full calendar years, SHW's best was 2012, when it returned 74.5%, and its worst was 2022, when it lost 32.0%. It lost money in six of those years.
- SHW is 14.6% below its all-time high.
The company
- Market value
- $82B
- Industry
- Chemicals - Specialty
- Price history from
- October 1986
Returns
- Past 1 year
- +2.4%total return
- Past 3 years
- +45.2%+13.2% a year
- Past 5 years
- +16.5%+3.1% a year
- Past 10 years
- +300%+14.9% a year
- Best calendar year
- +74.5%2012
- Worst calendar year
- −32.0%2022
- Losing years
- 6 of 29full calendar years
Risk
- Volatility
- 27.1%typical yearly swing, 5 years
- Sharpe ratio
- 0.25return per unit of risk, 5 years
- Worst decline ever
- −52.0%Apr 1998 to Jan 2000
- From its all-time high
- −14.6%below the peak
SHW against the whole market
Where SHW ranks among every stock and fund, and what across the market has done better.
How does SHW rank among all stocks?
This section ranks SHW 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 SHW stacks up against its peers, these rankings show where it stands in the market as a whole.
- SHW's worst decline of the past 10 years ranks in the top 10% of the 2,187 stocks worth at least $300 million, where the top fell the least.
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 | SHW | Rank | Standing |
|---|---|---|---|
| 1-year return | +2.4% | 1,883 of 3,287 | bottom 44% |
| 3-year return | +45.2% | 1,626 of 3,017 | bottom 47% |
| 5-year return | +16.5% | 1,503 of 2,893 | bottom 49% |
| 10-year return | +300% | 584 of 2,202 | top 27% |
| Volatility, 5 years | 27.1% | 488 of 2,893 | top 17% |
| Sharpe ratio, 5 years | 0.25 | 1,708 of 2,893 | bottom 42% |
| Worst decline, past 10 years | −42.5% | 209 of 2,187 | top 10% |
What has beaten SHW 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). SHW sits where the dashed lines cross. Anything in the green box above and to the left earned more than SHW 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.
- 213 stocks and 637 ETFs worth at least $500 million sit in the green region: each earned more than SHW over the past 5 years with smaller price swings. That is 23% of the 3,633 screened.
- Among those with at least half SHW's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 9% less than SHW's 27.1%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.25 for SHW.
- None of SHW's popular alternatives made it, but E (integrated oil & gas) did: 23.0% a year at 25.6% volatility, 6% less than SHW's 27.1%.
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 SHW; faint dots are 92 more of the 850 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 SHW?
Investments that beat SHW over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among SHW's popular alternatives, NEU earned more than SHW over the past 5 years with similar volatility: 21.0% a year at 26.8% volatility, against 3.1% a year at 27.1%.
- Looking beyond its popular alternatives, LIN (chemicals) and CVX (integrated oil & gas) earned more than SHW with less volatility over the past 5 years. LIN returned 11.5% a year at 20.9% volatility, against 3.1% a year at 27.1%.
- Across the whole market, 850 of the 3,633 stocks and funds worth at least $500 million earned more than SHW 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 SHW 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 SHW'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 SHW 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 SHW'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× SHW's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than SHW'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 SHW?lower diversifies more | Expenseper year | |||
| SHWThe Sherwin-Williams Company · this page | +3.1% | 27.1% | 0.25 | −42.5% | +300% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.58 | 0.09% | ||
| Popular alternativesbest 3 shownThe investments people most often weigh against SHW. 3 of 21 passed at least one test. | |||||||||
NEUNewMarket Corporation · Specialty Chemicals | Higher return, similar volatilityHigher return in most periods | +21.0% | 26.8% | 0.85 | −40.7% | +165% | 0.38 | — | |
MASMasco Corporation · Building Products | Higher return in most periods | +6.2% | 31.1% | 0.35 | −44.7% | +162% | 0.77 | — | |
SXTSensient Technologies Corporation · Specialty Chemicals | Higher return in most periods | +9.3% | 30.3% | 0.44 | −50.6% | +133% | 0.43 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Specialty Chemicals and Chemicals and the categories next to it (Specialty Retail, Building Products, Automobiles, Industrial Machinery, Agricultural Products, Integrated Oil & Gas), plus SHW's specific themes. 49 of 128 passed at least one test. | |||||||||
 LINLinde plc · Chemicals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.66 | — | |
 CVXChevron Corporation · Integrated Oil & Gas | Higher return, lower volatilityHigher return in most periods | +19.5% | 25.2% | 0.84 | −55.8% | +238% | 0.25 | — | |
 SHELShell plc · Integrated Oil & Gas | Higher return, lower volatilityHigher return in most periods | +21.0% | 24.8% | 0.90 | −67.2% | +233% | -0.01 | — | |
 EEni S.p.A. · Integrated Oil & Gas | Higher return, lower volatilityHigher return in most periods | +23.0% | 25.6% | 0.94 | −61.4% | +278% | 0.19 | — | |
 XOMExxonmobil Holdings Corporation · Integrated Oil & Gas | Higher return, similar volatilityHigher return in most periods | +27.1% | 26.5% | 1.04 | −61.0% | +214% | 0.14 | — | |
FSSFederal Signal Corporation · Industrial Machinery | Higher Sharpe, smaller worst decline | +23.3% | 31.7% | 0.82 | −33.0% | +882% | 0.60 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,426 of 3,484 passed at least one test. | |||||||||
 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% | 0.50 | — | |
 IVWiShares S&P 500 Growth ETF · US Large-Cap Growth | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +13.1% | 21.5% | 0.68 | −32.7% | +413% | 0.44 | 0.18% | |
 WMWaste Management, Inc. · Environmental Services | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +9.3% | 19.2% | 0.56 | −30.1% | +344% | 0.52 | — | |
 FASTFastenal Company · Industrial Distribution | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +15.8% | 24.6% | 0.72 | −30.7% | +576% | 0.59 | — | |
OEFiShares S&P 100 ETF · US Large-Cap Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +14.3% | 17.8% | 0.84 | −31.4% | +367% | 0.48 | 0.20% | |
 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% | 0.17 | — | |
SPHQInvesco S&P 500 Quality ETF · US Quality Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +12.0% | 16.7% | 0.76 | −31.6% | +300% | 0.67 | 0.20% | |
 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% | — | 0.15 | 0.09% | |
What these numbers mean for SHW
- Annual return
- SHW returned 3.1% 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 $11,600. 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
- SHW's volatility over the past 5 years was 27.1%, 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, SHW's return lands within 27.1% 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
- SHW's Sharpe ratio over the past 5 years was 0.25, against 0.79 for the S&P 500, so SHW 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
- SHW's worst fall from a peak to a low over the past 10 years was 42.5%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 42.5% fall takes a 73.8% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, SHW's monthly returns had a correlation of 0.58 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 SHW instead: the lower it is, the more that option would diversify a SHW holding. Guide: Correlation and diversification →
Show all 850 stocks and funds worth at least $500 million that earned more than SHW 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 SHW | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | COSTCostco Wholesale Corporation · Discount Retail | Whole market | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.50 | — |
| 2 | IVWiShares S&P 500 Growth ETF · US Large-Cap Growth | Whole market | +13.1% | 21.5% | 0.68 | −32.7% | +413% | 0.44 | 0.18% |
| 3 | WMWaste Management, Inc. · Environmental Services | Whole market | +9.3% | 19.2% | 0.56 | −30.1% | +344% | 0.52 | — |
| 4 | FASTFastenal Company · Industrial Distribution | Whole market | +15.8% | 24.6% | 0.72 | −30.7% | +576% | 0.59 | — |
| 5 | OEFiShares S&P 100 ETF · US Large-Cap Equity | Whole market | +14.3% | 17.8% | 0.84 | −31.4% | +367% | 0.48 | 0.20% |
| 6 | SPHQInvesco S&P 500 Quality ETF · US Quality Equity | Whole market | +12.0% | 16.7% | 0.76 | −31.6% | +300% | 0.67 | 0.20% |
| 7 |  VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Whole market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.60 | 0.03% |
| 8 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.46 | 0.40% |
| 9 |  WMTWalmart Inc. · Discount Retail | Whole market | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.40 | — |
| 10 |  BRK-BBerkshire Hathaway Inc. · Insurance | Whole market | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.53 | — |
| 11 | TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity | Whole market | +16.2% | 21.3% | 0.81 | −32.0% | +388% | 0.40 | 0.50% |
| 12 |  JNJJohnson & Johnson · Pharmaceuticals | Whole market | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.49 | — |
| 13 |  VVisa Inc. · Payment Processing | Whole market | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.41 | — |
| 14 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.57 | 0.40% |
| 15 |  KOThe Coca-Cola Company · Food & Beverages | Whole market | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.48 | — |
| 16 |  VXUSVanguard Total International Stock ETF · International Equity | Whole market | +8.2% | 16.4% | 0.57 | −36.0% | +140% | 0.60 | 0.05% |
| 17 |  NVSNovartis AG · Pharmaceuticals | Whole market | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.50 | — |
| 18 |  VTVVanguard Morningstar Value ETF · US Large-Cap Value | Whole market | +12.1% | 13.7% | 0.90 | −36.8% | +235% | 0.72 | 0.03% |
| 19 |  AMGNAmgen Inc. · Biotechnology | Whole market | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.29 | — |
| 20 |  GILDGilead Sciences, Inc. · Biotechnology | Whole market | +22.8% | 24.9% | 0.95 | −30.5% | +200% | 0.32 | — |
| 21 |  VEAVanguard FTSE Developed Markets ETF · Developed International Equity | Whole market | +9.3% | 16.9% | 0.61 | −35.8% | +153% | 0.63 | 0.03% |
| 22 | PTNQPacer Trendpilot 100 ETF · Technology | Whole market | +9.7% | 14.1% | 0.73 | −28.1% | +305% | 0.37 | 0.65% |
| 23 |  PGRThe Progressive Corporation · Property & Casualty Insurance | Whole market | +21.3% | 25.6% | 0.89 | −30.3% | +816% | 0.27 | — |
| 24 |  VIGVanguard Dividend Appreciation ETF · US Dividend Equity | Whole market | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.74 | 0.04% |
| 25 | QQQEDirexion NASDAQ-100 Equal Weighted Index ETF · Broad Market | Whole market | +8.1% | 20.7% | 0.48 | −32.1% | +294% | 0.55 | 0.35% |
| 26 |  CORCencora, Inc. · Health Care Distribution | Whole market | +24.2% | 22.8% | 1.07 | −32.4% | +406% | 0.49 | — |
| 27 |  SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Whole market | +9.7% | 14.3% | 0.72 | −33.4% | +252% | 0.68 | 0.06% |
| 28 |  MNSTMonster Beverage Corporation · Food & Beverages | Whole market | +17.2% | 24.9% | 0.77 | −30.4% | +285% | 0.45 | — |
| 29 | NXTGFirst Trust Indxx NextG ETF · Technology | Whole market | +16.2% | 19.1% | 0.89 | −33.6% | +330% | 0.41 | 0.70% |
| 30 |  VTVanguard Total World Stock ETF · Global Equity | Whole market | +10.3% | 16.2% | 0.69 | −34.2% | +223% | 0.63 | 0.06% |
| 31 |  VWOVanguard FTSE Emerging Markets ETF · Emerging Markets Equity | Whole market | +5.2% | 17.5% | 0.38 | −36.4% | +102% | 0.41 | 0.06% |
| 32 |  CMECME Group Inc. · Capital Markets | Whole market | +11.2% | 20.8% | 0.62 | −37.4% | +319% | 0.10 | — |
| 33 |  RSGRepublic Services, Inc. · Environmental Services | Whole market | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.57 | — |
| 34 | PJULInnovator U.S. Equity Power Buffer ETF · Broad Market | Whole market | +10.5% | 8.6% | 1.20 | −18.2% | — | 0.55 | 0.79% |
| 35 |  MSIMotorola Solutions, Inc. · Communications Equipment | Whole market | +14.8% | 23.6% | 0.71 | −32.8% | +625% | 0.54 | — |
| 36 | FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset | Whole market | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.47 | 0.85% |
| 37 |  ICEIntercontinental Exchange, Inc. · Capital Markets | Whole market | +5.4% | 21.8% | 0.35 | −34.3% | +240% | 0.47 | — |
| 38 |  XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity | Whole market | +8.4% | 15.3% | 0.60 | −28.4% | +202% | 0.62 | 0.08% |
| 39 | CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications | Whole market | +7.7% | 13.3% | 0.63 | −23.8% | +101% | 0.27 | — |
| 40 | SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity | Whole market | +18.7% | 20.8% | 0.93 | −30.9% | +499% | 0.47 | 0.13% |
| 41 | DFIVDimensional - International Value ETF · International Equity | Whole market | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.53 | 0.27% |
| 42 | AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Whole market | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.68 | 0.15% |
| 43 | HDViShares Core High Dividend ETF · US Dividend Equity | Whole market | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.61 | 0.08% |
| 44 | DFATDimensional - US Targeted Value ETF · US Small-Cap Equity | Whole market | +9.6% | 21.0% | 0.54 | −26.1% | — | 0.71 | 0.33% |
| 45 | DGXQuest Diagnostics Incorporated · Medical Diagnostics | Whole market | +12.3% | 22.5% | 0.63 | −36.6% | +243% | 0.54 | — |
| 46 | FTSFortis Inc. · Electric Utilities | Whole market | +8.4% | 16.4% | 0.58 | −34.3% | +154% | 0.49 | — |
| 47 | USMViShares MSCI USA Min Vol Factor ETF · US Low-Volatility Equity | Whole market | +7.6% | 12.3% | 0.66 | −33.1% | +176% | 0.70 | 0.15% |
| 48 | AVEMAvantis Emerging Markets Equity ETF · Emerging Markets Equity | Whole market | +9.3% | 19.5% | 0.56 | −36.0% | — | 0.39 | 0.33% |
| 49 | EWJiShares MSCI Japan ETF · International Equity | Whole market | +9.2% | 18.8% | 0.57 | −33.1% | +132% | 0.58 | 0.49% |
| 50 | WTWWillis Towers Watson Public Limited Company · Insurance | Whole market | +6.9% | 23.9% | 0.40 | −32.9% | +187% | 0.32 | — |
| 51 | SDYState Street SPDR S&P Dividend ETF · US Dividend Equity | Whole market | +7.6% | 14.0% | 0.59 | −36.7% | +157% | 0.75 | 0.35% |
| 52 | BUFRFT Vest Laddered Buffer ETF · Buffered Equity | Whole market | +9.9% | 10.5% | 0.96 | −13.7% | — | 0.55 | 0.10% |
| 53 |  RYRoyal Bank of Canada · Banks | Whole market | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.47 | — |
| 54 | RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity | Whole market | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.68 | 0.39% |
| 55 | DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity | Whole market | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.62 | 0.35% |
| 56 | LINLinde plc · Chemicals | Same or nearby category | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.66 | — |
| 57 | JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity | Whole market | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.67 | 0.12% |
| 58 | DIVOAmplify CWP Enhanced Dividend Income ETF · Equity Income | Whole market | +11.1% | 11.9% | 0.95 | −30.0% | — | 0.68 | 0.56% |
| 59 | MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity | Whole market | +9.1% | 18.4% | 0.57 | −33.3% | +276% | 0.63 | 0.46% |
| 60 |  CAHCardinal Health, Inc. · Health Care Distribution | Whole market | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.43 | — |
| 61 | ACTEnact Holdings Inc. · Insurance | Whole market | +20.5% | 24.3% | 0.89 | −20.2% | — | 0.54 | — |
| 62 | QYLDGlobal X - Nasdaq 100 Covered Call ETF · Equity Income | Whole market | +8.4% | 15.0% | 0.62 | −24.7% | +156% | 0.39 | 0.60% |
| 63 | BBEUJPMorgan BetaBuilders Europe ETF · International Equity | Whole market | +8.9% | 17.5% | 0.57 | −36.3% | — | 0.62 | 0.09% |
| 64 | SCIService Corporation International · Death Care | Whole market | +7.5% | 25.2% | 0.41 | −34.0% | +272% | 0.63 | — |
| 65 | RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity | Whole market | +16.9% | 25.1% | 0.75 | −33.7% | +572% | 0.44 | 0.40% |
| 66 | TSPAT. Rowe Price U.S. Equity Research ETF · Broad Market | Whole market | +13.1% | 17.1% | 0.81 | −24.7% | — | 0.57 | 0.34% |
| 67 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.40 | — |
| 68 | IWXiShares Russell Top 200 Value ETF · Broad Market | Whole market | +12.7% | 13.8% | 0.94 | −35.8% | +221% | 0.68 | 0.20% |
| 69 | IDMOInvesco S&P International Developed Momentum ETF · International Equity | Whole market | +13.3% | 18.2% | 0.78 | −31.3% | +229% | 0.67 | 0.25% |
| 70 | FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives | Whole market | +12.9% | 15.6% | 0.86 | −35.9% | +139% | -0.01 | 0.98% |
| 71 | XMHQInvesco S&P MidCap Quality ETF · US Mid-Cap Equity | Whole market | +9.7% | 20.5% | 0.56 | −36.9% | +240% | 0.73 | 0.30% |
| 72 | FTLSFirst Trust Long/Short Equity ETF · Broad Market | Whole market | +10.2% | 10.4% | 0.99 | −20.6% | +158% | 0.61 | 0.95% |
| 73 | OMFLInvesco Russell 1000 Dynamic Multifactor ETF · US Multifactor Equity | Whole market | +9.0% | 16.4% | 0.61 | −33.2% | — | 0.62 | 0.29% |
| 74 | PTLCPacer Trendpilot US Large Cap ETF · Broad Market | Whole market | +9.5% | 11.8% | 0.83 | −26.6% | +188% | 0.52 | 0.60% |
| 75 | SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology | Whole market | +15.0% | 19.5% | 0.82 | −30.8% | — | 0.49 | 0.45% |
| 76 | DIVIFranklin International Core Dividend Tilt Index ETF · International | Whole market | +13.4% | 15.5% | 0.89 | −27.7% | +184% | 0.65 | 0.09% |
| 77 | AORiShares Core 60/40 Balanced Allocation ETF · Multi-Asset | Whole market | +6.4% | 10.7% | 0.64 | −23.0% | +118% | 0.64 | 0.20% |
| 78 | XYLDGlobal X - S&P 500 Covered Call ETF · International | Whole market | +7.4% | 11.2% | 0.70 | −33.4% | +128% | 0.45 | 0.60% |
| 79 | EQWLInvesco S&P 100 Equal Weight ETF · Broad Market | Whole market | +11.6% | 15.0% | 0.81 | −34.3% | +291% | 0.67 | 0.30% |
| 80 | HDEFXtrackers MSCI EAFE High Dividend Yield Equity ETF · International | Whole market | +12.8% | 14.2% | 0.92 | −36.4% | +134% | 0.57 | 0.09% |
| 81 | ACWViShares MSCI Global Min Vol Factor ETF · International | Whole market | +6.3% | 10.3% | 0.65 | −28.8% | +116% | 0.70 | 0.20% |
| 82 | DIVBiShares Core Dividend ETF · Dividend & Income | Whole market | +13.9% | 15.4% | 0.93 | −36.9% | — | 0.66 | 0.05% |
| 83 | ACIOAptus Collared Income Opportunity ETF · Dividend & Income | Whole market | +9.3% | 11.1% | 0.86 | −14.2% | — | 0.58 | 0.79% |
| 84 | FTHIFirst Trust BuyWrite Income ETF · Dividend & Income | Whole market | +10.3% | 13.3% | 0.81 | −32.7% | +126% | 0.53 | 0.75% |
| 85 | JAAAJanus Henderson AAA CLO ETF · CLO Bonds | Whole market | +5.1% | 1.7% | 2.98 | −2.6% | — | 0.28 | 0.20% |
| 86 | JMOMJPMorgan U.S. Momentum Factor ETF · Broad Market | Whole market | +12.9% | 19.1% | 0.73 | −34.3% | — | 0.61 | 0.12% |
| 87 | FHLCFidelity MSCI Health Care Index ETF · Healthcare | Whole market | +7.3% | 15.4% | 0.53 | −28.8% | +199% | 0.63 | 0.08% |
| 88 | HFXINYLI FTSE International Equity Currency Neutral ETF · International | Whole market | +11.4% | 15.3% | 0.79 | −32.4% | +180% | 0.61 | 0.19% |
| 89 | NULGNuveen ESG Large-Cap Growth · Broad Market | Whole market | +11.4% | 21.9% | 0.60 | −36.2% | — | 0.52 | 0.26% |
| 90 | FBTFirst Trust NYSE Arca Biotechnology Index Fund · Healthcare | Whole market | +10.8% | 22.2% | 0.58 | −33.3% | +203% | 0.50 | 0.55% |
| 91 | DSTLDistillate U.S. Fundamental Stability & Value ETF · Broad Market | Whole market | +11.3% | 16.1% | 0.75 | −33.1% | — | 0.71 | 0.39% |
| 92 | CHCOCity Holding Company · Banks - Regional | Whole market | +15.9% | 22.8% | 0.77 | −32.3% | +286% | 0.54 | — |
| 93 | DDWMWisdomTree Dynamic International Equity Fund · International | Whole market | +12.3% | 13.4% | 0.94 | −35.0% | +149% | 0.60 | 0.40% |
| 94 | DHSWisdomTree U.S. High Dividend Fund · Dividend & Income | Whole market | +12.0% | 13.9% | 0.89 | −37.4% | +156% | 0.64 | 0.38% |
| 95 | RODMHartford Multifactor Developed Markets (ex-US) ETF · International | Whole market | +10.6% | 13.5% | 0.82 | −36.0% | +141% | 0.63 | 0.29% |
| 96 | PULSPGIM Ultra Short Bond ETF · Short-Term Bonds | Whole market | +4.4% | 0.7% | 6.07 | −5.8% | — | 0.30 | 0.15% |
| 97 | RLYState Street Multi-Asset Real Return ETF · Multi-Asset | Whole market | +9.9% | 13.3% | 0.78 | −34.2% | +128% | 0.44 | 0.50% |
| 98 | VFMOVanguard U.S. Momentum Factor ETF · Broad Market | Whole market | +11.4% | 22.1% | 0.60 | −36.8% | — | 0.65 | 0.13% |
| 99 | FDLOFidelity Low Volatility Factor ETF · Broad Market | Whole market | +9.8% | 13.0% | 0.79 | −34.4% | +249% | 0.64 | 0.15% |
| 100 |  JPMJPMorgan Chase & Co. · Banks | Whole market | +17.3% | 24.3% | 0.78 | −43.6% | +537% | 0.53 | — |
SHW against its popular alternatives
The investments people most often weigh against SHW, compared period by period and year by year.
How do SHW'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 SHW, which divides the map into what did better or worse on each measure.
- Only NEU and IOSP were both more rewarding and calmer than SHW over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, SHW returned 3.1% a year, less than the S&P 500's 12.7%, with higher volatility (27.1% against 17.1%).
Green points earned more than SHW 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 |
|---|---|---|
| HWKN Hawkins, Inc. | +29.1% | 36.5% |
| NEU NewMarket Corporation | +21.0% | 26.8% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| DHI D.R. Horton, Inc. | +10.5% | 35.9% |
| DD DuPont de Nemours, Inc. | +9.8% | 30.0% |
| SXT Sensient Technologies Corporation | +9.3% | 30.3% |
| CBT Cabot Corp. | +8.7% | 33.8% |
| MAS Masco Corporation | +6.2% | 31.1% |
| RPM RPM International Inc. | +5.1% | 27.2% |
| IOSP Innospec Inc. | +4.4% | 26.5% |
| SHW This pageThe Sherwin-Williams Company | +3.1% | 27.1% |
| BCPC Balchem Corp | +2.7% | 24.1% |
| AXTA Axalta Coating Systems Ltd. | +1.2% | 31.0% |
| HD The Home Depot, Inc. | 0.0% | 24.7% |
| LOW Lowe's Companies, Inc. | −0.6% | 26.4% |
| BLDR Builders FirstSource, Inc. | −1.6% | 46.7% |
| MTX Minerals Technologies Inc. | −1.9% | 30.2% |
| AVNT Avient Corporation | −2.6% | 37.8% |
| ASH Ashland Inc. | −3.9% | 31.8% |
| PPG PPG Industries, Inc. | −5.5% | 28.1% |
| EMN Eastman Chemical Company | −6.6% | 32.2% |
| KWR Quaker Houghton | −6.6% | 39.6% |
| CE Celanese Corporation | −21.0% | 45.9% |
Has SHW consistently beaten its popular alternatives?
This section compares SHW 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 SHW helps separate lasting outperformance from a single strong stretch.
- Three of the 21 popular alternatives, NEU, MAS and SXT, outperformed SHW in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- NEU and RPM earned more for the risk they took than SHW (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
- HWKN outperformed SHW over all three long-term periods but in none of the five short-term ones, so SHW has had the better of it lately.
A green cell means the alternative earned more than SHW 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 | ||
| SHW The Sherwin-Williams Company (this page) | — | +4.6% | +4.1% | −1.8% | +3.2% | +2.4% | +45.2% | +16.5% | +300% | 27.1% | 0.25 | −42.5% | — | $82B | — |
| NEU QualifiedNewMarket Corporation | 4/5 short2/3 long | −0.6% | +13.2% | +37.8% | +29.5% | +19.2% | +107% | +159% | +165% | 26.8% | 0.85 | −40.7% | — | $8.1B | — |
| MAS QualifiedMasco Corporation | 4/5 short2/3 long | +10.2% | −3.2% | +13.0% | +17.4% | +10.7% | +57.7% | +35.3% | +162% | 31.1% | 0.35 | −44.7% | — | $15B | — |
| SXT QualifiedSensient Technologies Corporation | 4/5 short2/3 long | +4.3% | +23.7% | +36.4% | +46.3% | +41.9% | +149% | +56.2% | +133% | 30.3% | 0.44 | −50.6% | — | $5.8B | — |
| HWKN Chemicals - SpecialtyHawkins, Inc. | 0/5 short3/3 long | +4.5% | −9.7% | −17.2% | −9.5% | −19.3% | +138% | +259% | +627% | 36.5% | 0.89 | −44.8% | — | $2.7B | — |
| DD ChemicalsDuPont de Nemours, Inc. | 2/5 short2/3 long | +2.4% | −1.6% | −4.9% | +9.8% | +33.2% | +53.7% | +59.2% | +65.8% | 30.0% | 0.46 | −73.0% | — | $18B | — |
| DHI Residential ConstructionD.R. Horton, Inc. | 0/5 short2/3 long | +0.7% | −2.9% | −8.0% | −3.0% | −7.7% | +43.7% | +65.0% | +434% | 35.9% | 0.46 | −53.6% | — | $39B | — |
| IOSP Chemicals - SpecialtyInnospec Inc. | 5/5 short1/3 long | +7.1% | +18.1% | +32.9% | +31.5% | +36.5% | +6.6% | +24.0% | +85.1% | 26.5% | 0.29 | −48.4% | — | $2.4B | — |
| CBT Chemicals - SpecialtyCabot Corp. | 2/5 short1/3 long | −3.9% | −16.7% | −1.4% | +11.7% | +6.8% | +15.2% | +52.0% | +81.5% | 33.8% | 0.42 | −67.2% | — | $3.8B | — |
| BLDR Construction MaterialsBuilders FirstSource, Inc. | 0/5 short1/3 long | −7.9% | −25.8% | −41.0% | −48.5% | −56.0% | −50.7% | −7.5% | +417% | 46.7% | 0.20 | −76.1% | — | $5.8B | — |
| RPM Chemicals - SpecialtyRPM International Inc. | 0/5 short1/3 long | +1.7% | −0.9% | −7.7% | −1.5% | −8.7% | +13.5% | +28.5% | +153% | 27.2% | 0.32 | −38.7% | — | $13B | — |
| KWR Chemicals - SpecialtyQuaker Houghton | 4/5 short0/3 long | +2.0% | +7.1% | +12.3% | +15.2% | +21.1% | +14.1% | −29.0% | +65.5% | 39.6% | 0.02 | −66.1% | — | $2.7B | — |
| AVNT Chemicals - SpecialtyAvient Corporation | 4/5 short0/3 long | −0.2% | +12.5% | +6.3% | +30.1% | +30.3% | +36.9% | −12.1% | +64.2% | 37.8% | 0.12 | −76.9% | — | $3.7B | — |
| ASH Chemicals - SpecialtyAshland Inc. | 4/5 short0/3 long | +3.8% | +6.5% | +25.3% | +22.2% | +47.6% | +0.5% | −18.2% | +53.4% | 31.8% | 0.03 | −57.3% | — | $3.3B | — |
| AXTA Chemicals - SpecialtyAxalta Coating Systems Ltd. | 4/5 short0/3 long | +5.9% | +5.1% | +13.7% | +2.3% | +18.3% | +30.8% | +6.0% | +28.0% | 31.0% | 0.19 | −63.6% | — | $7.2B | — |
| CE ChemicalsCelanese Corporation | 4/5 short0/3 long | +7.1% | +6.7% | −25.2% | +12.9% | +16.1% | −57.5% | −69.2% | −19.8% | 45.9% | -0.28 | −79.0% | — | $5.2B | — |
| BCPC Chemicals - SpecialtyBalchem Corp | 3/5 short0/3 long | +2.6% | +5.3% | −3.3% | +11.4% | +14.5% | +42.5% | +14.3% | +140% | 24.1% | 0.23 | −36.7% | — | $5.5B | — |
| PPG Chemicals - SpecialtyPPG Industries, Inc. | 2/5 short0/3 long | +3.5% | −5.5% | −4.1% | +6.0% | +9.1% | −6.6% | −24.7% | +41.7% | 28.1% | -0.06 | −46.0% | — | $24B | — |
| HD Home ImprovementThe Home Depot, Inc. | 1/5 short0/3 long | +6.0% | −4.7% | −8.9% | −6.9% | −16.7% | +18.8% | −0.2% | +217% | 24.7% | 0.12 | −38.0% | — | $314B | — |
| EMN Chemicals - SpecialtyEastman Chemical Company | 1/5 short0/3 long | −2.4% | −5.5% | −11.7% | +2.3% | +8.3% | +0.8% | −28.8% | +33.5% | 32.2% | -0.05 | −62.7% | — | $7.3B | — |
| MTX Chemicals - SpecialtyMinerals Technologies Inc. | 1/5 short0/3 long | −6.2% | −14.1% | −12.9% | +2.8% | +3.7% | +21.3% | −9.2% | −4.5% | 30.2% | 0.09 | −65.1% | — | $1.9B | — |
| LOW Home ImprovementLowe's Companies, Inc. | 0/5 short0/3 long | +4.0% | −2.4% | −20.8% | −18.3% | −16.4% | +10.7% | −3.2% | +236% | 26.4% | 0.11 | −48.6% | — | $111B | — |
How did SHW do year by year?
This table shows each investment's total return in every full calendar year since 1997, along with where SHW ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with SHW and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- Ranked against its popular alternatives each year, SHW finished in the top quarter in seven of 29 years and in the bottom quarter in four. In 2025, it ranked 8 of 22.
- SHW finished ahead of the S&P 500 in 16 of its 29 full calendar years, and behind it in each of the last two.
- Among its popular alternatives, BCPC came out ahead of SHW most often, in 17 of the 29 years both traded.
Newest year first. Green marks a year in which the fund came out ahead of SHW; gray means the two finished within a fraction of a point. The rank row places SHW among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of SHW | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SHW This pageThe Sherwin-Williams Company | — | −3.8% | +9.9% | +32.7% | −32.0% | +44.9% | +27.1% | +49.7% | −3.2% | +54.1% | +4.8% | −0.4% | +44.9% | +20.7% | +74.5% | +8.5% | +38.7% | +5.9% | +5.6% | −6.9% | +42.7% | +3.8% | +30.7% | +25.7% | +5.0% | +7.3% | +28.5% | −27.0% | +7.2% | +0.3% |
| Rank among alternatives | Top quarter in 7 of 29 | 8 of 22 | 9 of 22 | 8 of 22 | 19 of 22 | 7 of 22 | 6 of 22 | 5 of 22 | 8 of 22 | 3 of 22 | 15 of 22 | 11 of 22 | 1 of 21 | 18 of 21 | 4 of 21 | 7 of 21 | 10 of 21 | 21 of 21 | 2 of 21 | 12 of 21 | 4 of 21 | 7 of 19 | 7 of 19 | 13 of 19 | 6 of 19 | 14 of 19 | 6 of 19 | 14 of 18 | 7 of 17 | 16 of 17 |
| 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% |
| NEU NewMarket Corporation | 13 of 29 | +32.3% | −1.5% | +79.1% | −6.7% | −11.9% | −16.5% | +20.0% | +5.5% | −4.7% | +13.1% | −4.3% | +22.2% | +29.1% | +47.6% | +63.0% | +9.0% | +234% | −36.4% | −4.6% | +144% | +22.9% | −9.0% | +237% | +40.9% | −35.9% | −57.2% | −34.3% | −23.7% | −15.0% |
| MAS Masco Corporation | 11 of 29 | −10.9% | +10.1% | +46.6% | −32.1% | +29.6% | +16.1% | +66.3% | −32.7% | +40.6% | +13.1% | +29.6% | +12.3% | +38.7% | +62.9% | −14.9% | −6.1% | +29.5% | −45.8% | −25.1% | +1.8% | −15.4% | +36.2% | +33.7% | −12.0% | −2.4% | +3.8% | −10.3% | +14.9% | +43.3% |
| SXT Sensient Technologies Corporation | 14 of 29 | +34.2% | +10.5% | −7.2% | −25.6% | +38.3% | +14.9% | +21.0% | −22.1% | −5.4% | +27.2% | +5.8% | +26.7% | +39.4% | −3.9% | +5.6% | +43.4% | +13.7% | −13.3% | +18.0% | +41.6% | −23.1% | +24.9% | −9.5% | +10.7% | −5.9% | +423% | −20.1% | +33.0% | +57.8% |
| HWKN Hawkins, Inc. | 15 of 29 | +16.4% | +75.5% | +84.7% | −0.8% | +53.1% | +16.4% | +14.3% | +19.3% | −33.5% | +54.1% | −15.7% | +18.8% | −1.9% | +6.7% | −15.5% | +107% | +47.5% | +5.3% | +8.3% | +5.1% | +21.9% | −11.9% | +59.3% | +4.6% | +9.7% | +0.4% | −12.2% | −12.9% | +73.2% |
| DD DuPont de Nemours, Inc. | 10 of 29 | +28.7% | +1.0% | +14.3% | −13.3% | +15.4% | +13.3% | −14.3% | −23.7% | +26.2% | +13.9% | +15.8% | +4.9% | +40.7% | +15.4% | −14.0% | +25.4% | +88.0% | −60.2% | +1.4% | −6.5% | −9.6% | +21.8% | +44.0% | −9.4% | −5.2% | −15.6% | +50.2% | −8.0% | +33.0% |
| DHI D.R. Horton, Inc. | 16 of 29 | +4.2% | −7.2% | +72.1% | −16.8% | +58.7% | +32.2% | +54.3% | −31.3% | +89.0% | −13.7% | +27.9% | +14.3% | +12.8% | +59.5% | +7.0% | +11.1% | +56.0% | −44.9% | −48.6% | −24.4% | +19.5% | +41.4% | +152% | −19.0% | +48.8% | +94.5% | −39.3% | +32.7% | +61.4% |
| IOSP Innospec Inc. | 11 of 27 | −28.9% | −9.6% | +21.5% | +15.2% | +0.8% | −11.0% | +69.4% | −11.5% | +4.3% | +27.7% | +28.7% | −6.4% | +35.5% | +30.9% | +37.6% | +102% | +74.0% | −65.5% | −26.1% | +189% | −21.2% | +6.1% | +25.2% | −11.9% | +56.3% | +10.9% | −25.3% | — | — |
| CBT Cabot Corp. | 10 of 29 | −25.7% | +11.2% | +27.7% | +21.4% | +28.4% | −2.1% | +14.2% | −28.7% | +24.6% | +26.6% | −4.7% | −13.3% | +31.7% | +26.3% | −12.9% | +47.2% | +78.9% | −52.8% | −22.1% | +24.0% | −5.6% | +23.5% | +22.6% | −24.2% | +37.1% | +784% | −24.8% | +3.3% | +12.0% |
| BLDR Builders FirstSource, Inc. | 10 of 20 | −28.0% | −14.4% | +157% | −24.3% | +110% | +60.6% | +133% | −49.9% | +98.6% | −1.0% | +61.3% | −3.6% | +27.8% | +174% | +3.5% | −48.7% | +151% | −78.8% | −59.5% | −16.6% | — | — | — | — | — | — | — | — | — |
| RPM RPM International Inc. | 12 of 29 | −13.9% | +12.1% | +16.8% | −1.7% | +13.2% | +20.6% | +33.7% | +14.8% | −0.3% | +25.1% | −11.1% | +25.0% | +44.4% | +24.7% | +15.3% | +13.1% | +61.6% | −31.8% | +0.3% | +24.7% | −8.6% | +23.7% | +12.1% | +9.4% | +78.0% | −11.8% | −34.1% | +7.9% | +15.6% |
| KWR Quaker Houghton | 15 of 29 | −0.8% | −33.4% | +29.1% | −26.9% | −8.3% | +55.4% | −6.7% | +18.9% | +19.0% | +68.2% | −14.8% | +21.2% | +45.3% | +41.7% | −4.4% | +109% | +34.2% | −22.0% | +3.3% | +20.0% | −19.1% | −16.5% | +37.3% | +17.0% | +14.5% | +38.5% | −17.0% | −0.8% | +20.4% |
| AVNT Avient Corporation | 7 of 26 | −21.2% | +0.7% | +26.4% | −38.3% | +41.3% | +12.9% | +31.9% | −33.0% | +37.9% | +2.5% | −15.2% | +8.2% | +74.8% | +79.2% | −6.3% | +67.0% | +138% | −52.2% | −12.3% | +16.7% | −29.0% | +41.8% | +63.0% | −59.0% | +71.7% | −45.7% | — | — | — |
| ASH Ashland Inc. | 12 of 29 | −15.4% | −13.7% | −20.2% | +1.2% | +37.7% | +5.1% | +9.4% | +0.9% | +34.1% | +8.0% | −13.2% | +25.0% | +22.4% | +42.4% | +13.8% | +29.7% | +284% | −77.3% | −30.1% | +74.8% | +22.9% | +35.5% | +59.7% | −36.0% | +31.7% | +18.9% | −29.9% | −7.9% | +25.4% |
| AXTA Axalta Coating Systems Ltd. | 2 of 11 | −5.6% | +0.7% | +33.4% | −23.1% | +16.0% | −6.1% | +29.8% | −27.6% | +19.0% | +2.1% | +2.4% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| CE Celanese Corporation | 6 of 20 | −38.7% | −54.6% | +55.7% | −37.8% | +31.7% | +8.3% | +39.9% | −14.3% | +38.5% | +19.4% | +14.3% | +10.1% | +25.5% | +1.2% | +8.1% | +29.0% | +160% | −70.5% | +64.3% | +36.5% | — | — | — | — | — | — | — | — | — |
| BCPC Balchem Corp | 17 of 29 | −5.3% | +10.2% | +22.5% | −27.2% | +46.9% | +14.0% | +30.4% | −2.2% | −3.5% | +38.7% | −8.3% | +14.0% | +61.8% | −9.6% | +20.4% | +52.0% | +34.9% | +11.8% | +31.5% | +29.6% | +29.2% | +52.8% | −6.0% | +14.0% | +61.5% | +67.1% | +50.1% | −54.1% | +108% |
| PPG PPG Industries, Inc. | 9 of 29 | −11.9% | −18.5% | +21.2% | −25.7% | +21.3% | +10.1% | +32.8% | −11.0% | +25.2% | −2.6% | −13.4% | +23.5% | +42.3% | +65.7% | +2.0% | +48.2% | +44.5% | −37.4% | +12.4% | +14.3% | −12.6% | +9.6% | +32.2% | +0.1% | +15.2% | −23.5% | +10.3% | +4.2% | +4.2% |
| HD The Home Depot, Inc. | 12 of 29 | −9.3% | +15.0% | +12.8% | −22.0% | +59.5% | +24.5% | +30.6% | −7.3% | +43.8% | +3.5% | +28.5% | +30.3% | +35.9% | +50.3% | +23.5% | +25.1% | +30.5% | −11.4% | −31.1% | +1.0% | −4.3% | +21.4% | +49.1% | −52.6% | +12.1% | −33.3% | +69.1% | +109% | +76.9% |
| EMN Eastman Chemical Company | 10 of 29 | −26.9% | +5.1% | +14.7% | −30.4% | +23.5% | +31.8% | +12.0% | −19.1% | +26.3% | +14.4% | −8.9% | −4.3% | +20.6% | +77.8% | −4.8% | +43.3% | +99.1% | −46.2% | +5.9% | +18.8% | −7.6% | +51.7% | +13.2% | −1.7% | −17.6% | +6.6% | +10.6% | −22.6% | +11.1% |
| MTX Minerals Technologies Inc. | 9 of 29 | −19.4% | +7.4% | +18.0% | −16.7% | +18.1% | +8.2% | +12.7% | −25.2% | −10.6% | +69.0% | −33.8% | +16.0% | +51.1% | +41.7% | −13.3% | +20.5% | +33.9% | −38.8% | +14.3% | +5.5% | −15.9% | +13.0% | +37.6% | −7.3% | +36.8% | −14.5% | −1.9% | −9.7% | +11.1% |
| LOW Lowe's Companies, Inc. | 15 of 29 | −0.3% | +13.0% | +14.0% | −21.5% | +63.4% | +36.4% | +32.2% | +1.2% | +31.3% | −4.9% | +12.2% | +41.3% | +41.7% | +42.9% | +3.4% | +9.2% | +10.7% | −3.4% | −26.7% | −6.1% | +16.1% | +4.2% | +48.1% | −19.1% | +109% | −25.3% | +17.0% | +117% | +34.5% |
Risk and diversification
How SHW 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 SHW's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents SHW'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.
- Not every decline was the market's doing: SHW fell 52.0% from April 1998 to January 2000, while the S&P 500 rose 23.8%.
- The slowest recovery came after SHW fell 52.0% from April 1998 to January 2000; it did not regain that peak until October 2003, four years later.
- In three of SHW's four worst declines, the S&P 500 held up better over the same dates.
Green means SHW fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | SHW fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| No named crash | −52.0% | +23.8% | Apr 1998 | Jan 2000 | 21 months | Oct 2003 | 3.8 years |
| No named crash | −44.6% | — | Mar 1987 | Dec 1987 | 9 months | Mar 1990 | 2.3 years |
| 2022 bear market | −42.5% | −22.2% | Dec 2021 | Oct 2022 | 10 months | Mar 2024 | 17 months |
| 2008 financial crisis | −38.5% | −54.0% | Jul 2007 | Mar 2009 | 20 months | Apr 2010 | 13 months |
| Covid crash | −33.3% | −32.4% | Jan 2020 | Mar 2020 | 2 months | May 2020 | 2 months |
How did SHW do in stock market crashes?
This section measures how far SHW, 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.
- None of its popular alternatives fell less than SHW in most of the crashes they both traded through.
- SHW fell less than the S&P 500 in six of the ten crashes it has traded through. The clearest case was the 2008 financial crisis, when SHW fell 33.3% and the S&P 500 fell 55.2%.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than SHW.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SHW This pageThe Sherwin-Williams Company | — | −2.9% | −39.7% | −32.5% | −22.1% | −4.3% | −23.2% | −12.4% | −0.5% | −33.3% | −32.4% |
| SPY S&P 500State Street SPDR S&P 500 ETF | 3 of 10 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| NEU NewMarket Corporation | 5 of 10 | −3.6% | −20.1% | −20.1% | −11.3% | −2.9% | −21.3% | −21.1% | 0.0% | −73.2% | −83.7% |
| MAS Masco Corporation | 1 of 10 | −2.4% | −34.0% | −39.2% | −28.5% | −5.1% | −22.8% | −39.7% | −6.7% | −83.8% | −39.0% |
| SXT Sensient Technologies Corporation | 3 of 10 | −4.9% | −29.6% | −28.4% | −31.8% | −5.0% | −20.7% | −21.2% | −3.5% | −42.0% | −33.1% |
| HWKN Hawkins, Inc. | 4 of 10 | −4.9% | −29.2% | −33.1% | −22.3% | −7.1% | −21.5% | −19.9% | −2.5% | −28.7% | −28.5% |
| DD DuPont de Nemours, Inc. | 0 of 10 | −4.0% | −40.2% | −46.4% | −29.2% | −5.1% | −27.0% | −39.8% | −4.5% | −85.7% | −40.6% |
| DHI D.R. Horton, Inc. | 1 of 10 | −0.9% | −42.4% | −53.6% | −23.0% | −4.9% | −29.4% | −29.8% | −4.3% | −74.6% | −43.9% |
| IOSP Innospec Inc. | 3 of 10 | −6.7% | −20.4% | −41.1% | −24.8% | −8.4% | −19.5% | −36.8% | 0.0% | −88.9% | −30.5% |
| CBT Cabot Corp. | 2 of 10 | −7.2% | −22.4% | −50.9% | −38.6% | −7.2% | −15.7% | −43.9% | −4.4% | −77.8% | −52.6% |
| BLDR Builders FirstSource, Inc. | 0 of 9 | −7.4% | −41.4% | −62.2% | −34.8% | −5.2% | −59.9% | −59.5% | −5.0% | −92.2% | — |
| RPM RPM International Inc. | 4 of 10 | −4.5% | −22.1% | −37.0% | −17.1% | −5.9% | −20.6% | −23.8% | −2.4% | −61.7% | −31.3% |
| KWR Quaker Houghton | 2 of 10 | −6.4% | −44.6% | −34.8% | −19.2% | −5.4% | −23.9% | −43.5% | −9.0% | −85.4% | −26.2% |
| AVNT Avient Corporation | 0 of 10 | −7.8% | −46.6% | −67.0% | −40.7% | −6.0% | −32.3% | −38.6% | −5.1% | −84.2% | −66.0% |
| ASH Ashland Inc. | 2 of 10 | −5.5% | −19.8% | −50.9% | −23.8% | −5.5% | −22.7% | −34.2% | −2.6% | −91.4% | −48.1% |
| AXTA Axalta Coating Systems Ltd. | 2 of 6 | −6.6% | −37.2% | −54.0% | −29.1% | −3.3% | −31.5% | — | — | — | — |
| CE Celanese Corporation | 1 of 9 | −10.8% | −48.7% | −45.7% | −27.2% | −7.0% | −22.2% | −45.1% | −2.6% | −84.9% | — |
| BCPC Balchem Corp | 3 of 10 | −3.7% | −32.2% | −27.3% | −36.4% | −9.0% | −23.0% | −22.7% | −0.8% | −35.6% | −20.0% |
| PPG PPG Industries, Inc. | 3 of 10 | −5.0% | −36.8% | −39.3% | −18.0% | −4.6% | −20.7% | −22.2% | −1.5% | −61.8% | −35.8% |
| HD The Home Depot, Inc. | 3 of 10 | −1.8% | −34.2% | −38.0% | −25.1% | −6.6% | −16.9% | −22.2% | −1.6% | −44.3% | −64.9% |
| EMN Eastman Chemical Company | 0 of 10 | −5.7% | −43.2% | −47.4% | −31.6% | −5.8% | −25.9% | −35.8% | −1.8% | −76.1% | −44.8% |
| MTX Minerals Technologies Inc. | 1 of 10 | −6.0% | −33.2% | −48.2% | −30.4% | −7.5% | −40.0% | −30.4% | −1.9% | −62.9% | −44.8% |
| LOW Lowe's Companies, Inc. | 3 of 10 | −2.2% | −33.5% | −48.6% | −26.1% | −6.4% | −18.0% | −20.7% | −0.8% | −52.8% | −40.9% |
How closely does SHW 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 SHW with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- Only HWKN, NEU and DHI had a higher capture ratio (upside capture divided by downside capture) than SHW's 0.87, out of 21 popular alternatives with the same record.
- HD took just 117% of the S&P 500's losses, against 132% for SHW, while still keeping 96% of its gains.
- Over the past 10 years, SHW captured 114% of the S&P 500's gains in rising months and 132% of its losses in falling months, with a beta of 1.09. It amplified the market's moves in both directions.
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 SHW's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| SHW This pageThe Sherwin-Williams Company | 114% | 132% | 0.87 | 1.09 |
| HWKN Hawkins, Inc. | 89% | 47% | 1.91 | 0.81 |
| NEU NewMarket Corporation | 52% | 40% | 1.30 | 0.44 |
| DHI D.R. Horton, Inc. | 132% | 146% | 0.90 | 1.51 |
| SXT Sensient Technologies Corporation | 65% | 78% | 0.83 | 0.87 |
| HD The Home Depot, Inc. | 96% | 117% | 0.81 | 1.00 |
| BLDR Builders FirstSource, Inc. | 163% | 203% | 0.80 | 1.90 |
| LOW Lowe's Companies, Inc. | 107% | 134% | 0.80 | 1.10 |
| BCPC Balchem Corp | 78% | 98% | 0.79 | 0.72 |
| RPM RPM International Inc. | 90% | 122% | 0.74 | 1.01 |
| MAS Masco Corporation | 111% | 158% | 0.70 | 1.30 |
| CBT Cabot Corp. | 89% | 132% | 0.68 | 1.23 |
| IOSP Innospec Inc. | 96% | 147% | 0.65 | 1.13 |
| DD DuPont de Nemours, Inc. | 96% | 151% | 0.63 | 1.28 |
| KWR Quaker Houghton | 112% | 182% | 0.61 | 1.45 |
| ASH Ashland Inc. | 70% | 114% | 0.61 | 0.82 |
| AVNT Avient Corporation | 107% | 179% | 0.60 | 1.46 |
| EMN Eastman Chemical Company | 94% | 162% | 0.58 | 1.29 |
| PPG PPG Industries, Inc. | 80% | 143% | 0.56 | 1.11 |
| AXTA Axalta Coating Systems Ltd. | 92% | 170% | 0.54 | 1.35 |
| MTX Minerals Technologies Inc. | 89% | 175% | 0.51 | 1.30 |
| CE Celanese Corporation | 71% | 154% | 0.46 | 1.01 |
What diversifies SHW?
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 SHW's. Because such investments tend not to fall at the same time, pairing SHW with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in SHW into GLD would have cut the portfolio's volatility by 18% over the past 5 years and raised its annual return (+3.9% for SHW alone, +7.5% for the mix).
- FIX made money in five of the six calendar years in which SHW lost money.
- Among large ETFs, DXJ, MLPX and SMH have moved largely independently of SHW over the past 5 years, with correlations of 0.44 or lower, and each still earned a positive 5-year return.
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 SHW lost money. The last two columns show a portfolio that is 80% SHW and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2025 | 2022 | 2018 | 2015 | 2007 | 1999 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SHW The Sherwin-Williams Company (this page) | 1.00 | +16.5% | 0.25 | −3.8% | −32.0% | −3.2% | −0.4% | −6.9% | −27.0% | 29.0% | +3.9% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.27 | +225% | 1.34 | +32.8% | +6.0% | −19.8% | +7.7% | −7.4% | — | 24.0% | +8.8% |
| MLPX EnergyGlobal X - MLP & Energy Infrastructure ETF | 0.44 | +135% | 0.97 | +4.9% | +21.5% | −15.5% | −35.3% | — | — | 25.1% | +7.6% |
| SMH TechnologyVanEck Semiconductor ETF | 0.34 | +323% | 0.97 | +49.2% | −33.5% | −9.1% | −0.3% | +6.0% | — | 26.3% | +11.0% |
| GLD CommoditiesSPDR Gold Shares | 0.14 | +126% | 0.96 | +63.7% | −0.8% | −1.9% | −10.7% | +30.4% | — | 23.9% | +7.5% |
| IOO InternationaliShares Global 100 ETF | 0.46 | +107% | 0.94 | +27.0% | −16.3% | −6.3% | −1.8% | +11.1% | — | 24.8% | +6.9% |
| SPMO Broad MarketInvesco S&P 500 Momentum ETF | 0.47 | +136% | 0.93 | +26.6% | −10.4% | −0.9% | — | — | — | 25.4% | +7.8% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.24 | +177% | 0.93 | +7.9% | +64.4% | −18.2% | −21.5% | +36.8% | +18.1% | 24.9% | +8.4% |
| EWT TechnologyiShares MSCI Taiwan ETF | 0.30 | +153% | 0.89 | +28.4% | −28.9% | −9.9% | −12.9% | +6.4% | — | 25.1% | +8.1% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2025 | 2022 | 2018 | 2015 | 2007 | 1999 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SHW The Sherwin-Williams Company (this page) | 1.00 | +16.5% | 0.25 | −3.8% | −32.0% | −3.2% | −0.4% | −6.9% | −27.0% | 29.0% | +3.9% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.43 | +479% | 1.55 | +76.3% | +54.1% | −24.5% | +12.6% | −9.8% | −36.8% | 25.9% | +10.7% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.12 | +3,143% | 1.47 | +220% | +1.3% | −16.3% | −6.0% | −25.7% | +350% | 27.2% | +23.2% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.43 | +1,636% | 1.46 | +121% | +17.0% | +0.8% | +67.7% | +2.1% | −58.7% | 28.2% | +18.7% |
| MCK Medical - DistributionMcKesson Corporation | 0.27 | +413% | 1.44 | +44.5% | +51.8% | −28.4% | −4.5% | +29.7% | −71.3% | 25.0% | +10.3% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.20 | +690% | 1.41 | +19.2% | +86.6% | −8.2% | +17.4% | — | — | 25.3% | +12.9% |
Common questions
What was SHW's worst drawdown?
SHW's deepest decline since it began trading in 1986 was 52.0%, from April 1998 to January 2000. It took about four years from the low to climb back to its old high.
What were SHW's best and worst years?
Over 29 full calendar years, SHW's best year was 2012, when it returned 74.5%. Its worst was 2022, with a return of -32.0%.
Is there a better investment than SHW?
Among SHW's popular alternatives, NEU earned more than SHW over the past 5 years with similar volatility: 21.0% a year at 26.8% volatility, against 3.1% a year at 27.1%. Looking beyond its popular alternatives, LIN (chemicals) and CVX (integrated oil & gas) earned more than SHW with less volatility over the past 5 years. LIN returned 11.5% a year at 20.9% volatility, against 3.1% a year at 27.1%.
Is SHW more volatile than the S&P 500?
Yes. SHW's volatility over the past 5 years was 27.1%, 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, SHW's return lands within 27.1% 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 SHW's Sharpe ratio?
SHW's Sharpe ratio over the past 5 years was 0.25, against 0.79 for the S&P 500, so SHW 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 SHW with the S&P 500?
Over the past 5 years, SHW's monthly returns had a correlation of 0.58 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 SHW instead: the lower it is, the more that option would diversify a SHW holding.
What are the best alternatives to SHW?
Of the 21 popular alternatives we compared, three outperformed SHW in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: NEU, MAS and SXT.
Did SHW outperform the S&P 500?
SHW finished ahead of the S&P 500 (SPY) in 16 of 29 full calendar years. In 2025, it returned -3.8%, against +17.7% for the index.
How did SHW do in stock market crashes?
SHW fell less than the S&P 500 (SPY) in six of the ten major crashes it has traded through, and further in three. The clearest case was the 2008 financial crisis, when SHW fell 33.3% and the S&P 500 fell 55.2%.
What diversifies SHW?
These had a low correlation with SHW over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.27), MLPX (correlation 0.44) and SMH (correlation 0.34); among large stocks, CAH (correlation 0.43), CLS (correlation 0.12) and FIX (correlation 0.43). 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 SHW's. Returns within 0.5 points or 3% of SHW'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.
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