# How Sherwin-Williams (SHW) compares with the whole market and its popular alternatives

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

## Key findings

- **Right now:** SHW 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%.
- **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 years:** Over 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.
- **Long term:** SHW 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.
- **In a crash:** The 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%).
- **Diversification:** SHW 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.
- **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.

- $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.

## 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.

- 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.

- Type: Stock, Materials (Chemicals - Specialty)
- Trading since: October 17, 1986
- Market value: $82B
- Volatility (5 years): 27.1%; Sharpe ratio: 0.25
- Worst decline ever: −52.0%, from April 2, 1998 to January 28, 2000; back at its high by October 29, 2003

| Period | SHW total return |
| --- | --- |
| 1 month | +4.6% |
| 3 months | +4.1% |
| 6 months | −1.8% |
| year to date | +3.2% |
| 1 year | +2.4% |
| 3 years | +45.2% |
| 5 years | +16.5% |
| 10 years | +300% |

## 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.

- 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.

| Measure | SHW | Rank |
| --- | --- | --- |
| 1-year return | +2.4% | 1,883 of 3,287 (top 58%) |
| 3-year return | +45.2% | 1,626 of 3,017 (top 54%) |
| 5-year return | +16.5% | 1,503 of 2,893 (top 52%) |
| 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 (top 60%) |
| 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).

- 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%.

### Is there a better investment than SHW?

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.

- 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.

The 15 strongest of 850 investments that beat SHW 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 SHW | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| SHW: The Sherwin-Williams Company (this page) |  | +3.1% | 27.1% | 0.25 | −42.5% | +300% |  |  |
| [COST](https://easycompare.io/research/cost): Costco Wholesale Corporation | Discount Retail | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.50 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [IVW](https://easycompare.io/research/ivw): iShares S&P 500 Growth ETF | US Large-Cap Growth | +13.1% | 21.5% | 0.68 | −32.7% | +413% | 0.44 | 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% | 0.52 | 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% | 0.59 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| OEF: iShares S&P 100 ETF | US Large-Cap Equity | +14.3% | 17.8% | 0.84 | −31.4% | +367% | 0.48 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| SPHQ: Invesco S&P 500 Quality ETF | US Quality Equity | +12.0% | 16.7% | 0.76 | −31.6% | +300% | 0.67 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VTI](https://easycompare.io/research/vti): Vanguard Morningstar Total Stock Market ETF | US Total Market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.60 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| IOO: iShares Global 100 ETF | Global Equity | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.46 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [WMT](https://easycompare.io/research/wmt): Walmart Inc. | Discount Retail | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.40 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.53 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| TDIV: First Trust NASDAQ Technology Dividend Index Fund | Technology Equity | +16.2% | 21.3% | 0.81 | −32.0% | +388% | 0.40 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | Pharmaceuticals | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.49 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [V](https://easycompare.io/research/v): Visa Inc. | Payment Processing | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.41 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | International Equity | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.57 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | Food & Beverages | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.48 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## 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.

- 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%).

### 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.

- 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.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of SHW | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| SHW: The Sherwin-Williams Company (this page) | +2.4% | +45.2% | +16.5% | +300% |  |  | 0.25 |
| NEU: NewMarket Corporation | +19.2% | +107% | +159% | +165% | 4/5 short-term, 2/3 long-term | consistent | 0.85 |
| MAS: Masco Corporation | +10.7% | +57.7% | +35.3% | +162% | 4/5 short-term, 2/3 long-term | consistent | 0.35 |
| SXT: Sensient Technologies Corporation | +41.9% | +149% | +56.2% | +133% | 4/5 short-term, 2/3 long-term | consistent | 0.44 |
| HWKN: Hawkins, Inc. | −19.3% | +138% | +259% | +627% | 0/5 short-term, 3/3 long-term |  | 0.89 |
| DD: DuPont de Nemours, Inc. | +33.2% | +53.7% | +59.2% | +65.8% | 2/5 short-term, 2/3 long-term |  | 0.46 |
| [DHI](https://easycompare.io/research/dhi): D.R. Horton, Inc. | −7.7% | +43.7% | +65.0% | +434% | 0/5 short-term, 2/3 long-term |  | 0.46 |
| IOSP: Innospec Inc. | +36.5% | +6.6% | +24.0% | +85.1% | 5/5 short-term, 1/3 long-term |  | 0.29 |
| CBT: Cabot Corp. | +6.8% | +15.2% | +52.0% | +81.5% | 2/5 short-term, 1/3 long-term |  | 0.42 |
| BLDR: Builders FirstSource, Inc. | −56.0% | −50.7% | −7.5% | +417% | 0/5 short-term, 1/3 long-term |  | 0.20 |
| RPM: RPM International Inc. | −8.7% | +13.5% | +28.5% | +153% | 0/5 short-term, 1/3 long-term |  | 0.32 |
| KWR: Quaker Houghton | +21.1% | +14.1% | −29.0% | +65.5% | 4/5 short-term, 0/3 long-term |  | 0.02 |
| AVNT: Avient Corporation | +30.3% | +36.9% | −12.1% | +64.2% | 4/5 short-term, 0/3 long-term |  | 0.12 |
| ASH: Ashland Inc. | +47.6% | +0.5% | −18.2% | +53.4% | 4/5 short-term, 0/3 long-term |  | 0.03 |
| AXTA: Axalta Coating Systems Ltd. | +18.3% | +30.8% | +6.0% | +28.0% | 4/5 short-term, 0/3 long-term |  | 0.19 |
| CE: Celanese Corporation | +16.1% | −57.5% | −69.2% | −19.8% | 4/5 short-term, 0/3 long-term |  | -0.28 |
| BCPC: Balchem Corp | +14.5% | +42.5% | +14.3% | +140% | 3/5 short-term, 0/3 long-term |  | 0.23 |
| PPG: PPG Industries, Inc. | +9.1% | −6.6% | −24.7% | +41.7% | 2/5 short-term, 0/3 long-term |  | -0.06 |
| [HD](https://easycompare.io/research/hd): The Home Depot, Inc. | −16.7% | +18.8% | −0.2% | +217% | 1/5 short-term, 0/3 long-term |  | 0.12 |
| EMN: Eastman Chemical Company | +8.3% | +0.8% | −28.8% | +33.5% | 1/5 short-term, 0/3 long-term |  | -0.05 |
| MTX: Minerals Technologies Inc. | +3.7% | +21.3% | −9.2% | −4.5% | 1/5 short-term, 0/3 long-term |  | 0.09 |
| [LOW](https://easycompare.io/research/low): Lowe's Companies, Inc. | −16.4% | +10.7% | −3.2% | +236% | 0/5 short-term, 0/3 long-term |  | 0.11 |

### 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.

- 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.

| Year | SHW | SPY |
| --- | --- | --- |
| 2025 | −3.8% | +17.7% |
| 2024 | +9.9% | +24.9% |
| 2023 | +32.7% | +26.2% |
| 2022 | −32.0% | −18.2% |
| 2021 | +44.9% | +28.7% |
| 2020 | +27.1% | +18.3% |
| 2019 | +49.7% | +31.2% |
| 2018 | −3.2% | −4.6% |
| 2017 | +54.1% | +21.7% |
| 2016 | +4.8% | +12.0% |

## 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.

- 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.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −52.0% | April 2, 1998 | January 28, 2000 | October 29, 2003 | +23.8% |  |
| −44.6% | March 25, 1987 | December 4, 1987 | March 21, 1990 | — |  |
| −42.5% | December 31, 2021 | October 20, 2022 | March 7, 2024 | −22.2% | 2022 bear market |
| −38.5% | July 19, 2007 | March 6, 2009 | April 5, 2010 | −54.0% | 2008 financial crisis |
| −33.3% | January 23, 2020 | March 23, 2020 | May 29, 2020 | −32.4% | Covid crash |

### 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.

- 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%.

| Crash | Dates | SHW fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −32.4% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −33.3% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −0.5% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −12.4% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −23.2% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −4.3% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −22.1% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −32.5% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −39.7% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −2.9% | −3.4% |

### 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.

- 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.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| SHW: The Sherwin-Williams Company (this page) | 114% | 132% | 1.09 |
| NEU: NewMarket Corporation | 52.0% | 40.0% | 0.44 |
| MAS: Masco Corporation | 111% | 158% | 1.30 |
| SXT: Sensient Technologies Corporation | 65.0% | 78.0% | 0.87 |
| HWKN: Hawkins, Inc. | 89.0% | 47.0% | 0.81 |
| DD: DuPont de Nemours, Inc. | 96.0% | 151% | 1.28 |
| [DHI](https://easycompare.io/research/dhi): D.R. Horton, Inc. | 132% | 146% | 1.51 |
| IOSP: Innospec Inc. | 96.0% | 147% | 1.13 |
| CBT: Cabot Corp. | 89.0% | 132% | 1.23 |
| BLDR: Builders FirstSource, Inc. | 163% | 203% | 1.90 |
| RPM: RPM International Inc. | 90.0% | 122% | 1.01 |
| KWR: Quaker Houghton | 112% | 182% | 1.45 |
| AVNT: Avient Corporation | 107% | 179% | 1.46 |
| ASH: Ashland Inc. | 70.0% | 114% | 0.82 |
| AXTA: Axalta Coating Systems Ltd. | 92.0% | 170% | 1.35 |
| CE: Celanese Corporation | 71.0% | 154% | 1.01 |
| BCPC: Balchem Corp | 78.0% | 98.0% | 0.72 |
| PPG: PPG Industries, Inc. | 80.0% | 143% | 1.11 |
| [HD](https://easycompare.io/research/hd): The Home Depot, Inc. | 96.0% | 117% | 1.00 |
| EMN: Eastman Chemical Company | 94.0% | 162% | 1.29 |
| MTX: Minerals Technologies Inc. | 89.0% | 175% | 1.30 |
| [LOW](https://easycompare.io/research/low): Lowe's Companies, Inc. | 107% | 134% | 1.10 |

### 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).

- 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.

| Investment | Correlation with SHW | 5Y return | Volatility | Sharpe | Rose in SHW's 6 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.27 | +225% | 19.1% | 1.34 | 3 of 6 |
| MLPX: Global X - MLP & Energy Infrastructure ETF | 0.44 | +135% | 19.7% | 0.97 | 2 of 6 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.34 | +323% | 36.9% | 0.97 | 2 of 6 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.14 | +126% | 18.9% | 0.96 | 2 of 6 |
| IOO: iShares Global 100 ETF | 0.46 | +107% | 17.2% | 0.94 | 2 of 6 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.47 | +136% | 20.8% | 0.93 | 1 of 6 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.24 | +177% | 25.5% | 0.93 | 4 of 6 |
| EWT: iShares MSCI Taiwan ETF | 0.30 | +153% | 24.2% | 0.89 | 2 of 6 |

## 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.

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## Explore further

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