Relative Intelligence · Pharmaceuticals
How Sanofi (SNY) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on SNY alone. It places SNY (Sanofi) 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 SNY stands in the market, and of the alternatives worth a closer look.
Period covered: SNY's full trading record, from July 2002 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.
Data as of October 20, 2026. Full tables and charts read best on a larger screen.
On this page12 sections
Key findings
- Right nowOver the past 6 months, SNY fell 10.3% while the S&P 500 rose 9.1%. SNY is 24.4% below its high, bear-market territory, while the S&P 500 sits 1.3% below a record. At a glance ↓
- Stock or market?The weakness is SNY's own: it fell 5.9% over the past 3 months while the pharmaceuticals ETF IHE (iShares U.S. Pharmaceuticals ETF) rose 5.0%. The S&P 500 rose 3.9%. Its pharmaceutical peers did not move as one over the past 3 months: ABBV (AbbVie) rose 14.8%, while NVO (Novo Nordisk A/S) fell 20.0%.
- Past 1 to 3 yearsSNY has gone against the market, falling 13.4% over the past year while the S&P 500 rose 15.8%. The same gap shows up over 3 years (10.0% against 89.3%). The last two calendar years both went the same way: SNY rose 4.9% in 2025, while the S&P 500 rose 15.8%. By year ↓
- Long termSNY turned $10,000 into $16,200 over the past decade, against $42,100 in the S&P 500. Year by year, SNY has outpaced the S&P 500 30% of the time since 2003. Growth of $10,000 ↓
- In a crashAcross six sell-offs, SNY has typically fallen 1.2 times as far as the S&P 500. Crash tests ↓
- DiversificationAgainst the S&P 500, SNY has a correlation of 0.25 over 5 years, less closely than 79% of stocks worth at least $300 million. Next to an index fund it is a real diversifier. That said, over 10 years, SNY's beta versus the S&P 500 was 0.46: 53% of the S&P 500's gains in rising months and 74% of its losses in falling ones. Market capture ↓
- Better options
- Popular alternatives
- JNJ (Johnson & Johnson), NVS (Novartis) and ABBV (AbbVie) earned more than SNY with less volatility over the past 5 years. JNJ returned 12.7% a year at 17.9% volatility, against 0.6% a year at 25.3%.
- Nearby categories and themes
- COR (Cencora, health care distribution) and RPRX (Royalty Pharma, pharmaceuticals) earned more than SNY with less volatility over the past 5 years. COR returned 24.2% a year at 22.8% volatility, against 0.6% a year at 25.3%.
- Whole market
- 898 of the 3,633 stocks and funds worth at least $500 million earned more than SNY 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 SNY have grown?
This chart tracks a hypothetical $10,000 investment in SNY over the past 24 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of SNY over the same span and SNY'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 SNY at the end of September 2002 would have grown to $34,735 by September 2026, less than the $144,215 it would have become in SPY, an S&P 500 fund.
- All eight other investments on the chart ended ahead of SNY, and REGN finished highest, at $567,172.
Choose a period
From the end of September 2002 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. 1,154 of the 1,370 stocks and funds worth at least $500 million that traded the whole period ended ahead of SNY; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- REGN$567,172+5,572% total · +18.3% a year
- GILD$521,150+5,112% total · +17.9% a year
- TMO$443,241+4,332% total · +17.1% a year
- LLY$404,698+3,947% total · +16.7% a year
- AMGN$151,461+1,415% total · +12.0% a year
- SPY (S&P 500)$144,215+1,342% total · +11.8% a year
- NVS$91,216+812% total · +9.6% a year
- MRK$82,418+724% total · +9.2% a year
- BMY$66,844+568% total · +8.2% a year
- SNY$34,735+247% total · +5.3% 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. 2,441 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of SNY; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- LLY$52,411+424% total · +39.3% a year
- ABBV$29,134+191% total · +23.8% a year
- AMGN$23,160+132% total · +18.3% a year
- NVS$21,146+111% total · +16.2% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- JNJ$18,849+88.5% total · +13.5% a year
- TAK$13,697+37.0% total · +6.5% a year
- TMO$11,986+19.9% total · +3.7% a year
- IQV$11,224+12.2% total · +2.3% a year
- SNY$10,438+4.4% total · +0.9% a year
SNY 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.
- SNY is still 24.4% below its all-time high.
- SNY's deepest decline since it began trading in 2002 was 46.7%, from July 2006 to March 2009. It took 28 months from the low to climb back to its old high.
- Over 23 full calendar years, SNY's best was 2012, when it returned 36.0%, and its worst was 2008, when it lost 26.5%. It lost money in five of those years.
The company
- Market value
- $99B
- Industry
- Drug Manufacturers - General
- Price history from
- July 2002
Returns
- Past 1 year
- −13.4%total return
- Past 3 years
- −10.0%−3.4% a year
- Past 5 years
- +3.0%+0.6% a year
- Past 10 years
- +61.5%+4.9% a year
- Best calendar year
- +36.0%2012
- Worst calendar year
- −26.5%2008
- Losing years
- 5 of 23full calendar years
Risk
- Volatility
- 25.3%typical yearly swing, 5 years
- Sharpe ratio
- 0.15return per unit of risk, 5 years
- Worst decline ever
- −46.7%Jul 2006 to Mar 2009
- From its all-time high
- −24.4%below the peak
SNY against the whole market
Where SNY ranks among every stock and fund, and what across the market has done better.
How does SNY rank among all stocks?
This section ranks SNY 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 SNY stacks up against its peers, these rankings show where it stands in the market as a whole.
- SNY's worst decline of the past 10 years ranks in the top 2% of the 2,187 stocks worth at least $300 million, where the top fell the least.
- SNY's 3-year return ranks in the bottom 18% of the 3,017 stocks worth at least $300 million with 3 years of history.
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 | SNY | Rank | Standing |
|---|---|---|---|
| 1-year return | −13.4% | 2,456 of 3,287 | bottom 26% |
| 3-year return | −10.0% | 2,467 of 3,017 | bottom 19% |
| 5-year return | +3.0% | 1,695 of 2,893 | bottom 42% |
| 10-year return | +61.5% | 1,521 of 2,202 | bottom 32% |
| Volatility, 5 years | 25.3% | 355 of 2,893 | top 12% |
| Sharpe ratio, 5 years | 0.15 | 1,980 of 2,893 | bottom 33% |
| Worst decline, past 10 years | −33.5% | 50 of 2,187 | top 2% |
What has beaten SNY 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). SNY sits where the dashed lines cross. Anything in the green box above and to the left earned more than SNY 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.
- 171 stocks and 727 ETFs worth at least $500 million sit in the green region: each earned more than SNY over the past 5 years with smaller price swings. That is 25% of the 3,633 screened.
- Among those with at least half SNY's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 25% less than SNY's 25.3%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.15 for SNY.
- Among SNY's popular alternatives, ABBV, NVS and JNJ are in the region. ABBV earned 26.1% a year against 0.6% a year for SNY, at 23.4% volatility, 8% less than SNY's 25.3%.
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 SNY; faint dots are 91 more of the 898 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 SNY?
Investments that beat SNY over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among SNY's popular alternatives, JNJ, NVS and ABBV earned more than SNY with less volatility over the past 5 years. JNJ returned 12.7% a year at 17.9% volatility, against 0.6% a year at 25.3%.
- Looking beyond its popular alternatives, COR (health care distribution) and RPRX (pharmaceuticals) earned more than SNY with less volatility over the past 5 years. COR returned 24.2% a year at 22.8% volatility, against 0.6% a year at 25.3%.
- Across the whole market, 898 of the 3,633 stocks and funds worth at least $500 million earned more than SNY 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 SNY 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 SNY'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 SNY 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 SNY'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× SNY's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than SNY'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 SNY?lower diversifies more | Expenseper year | |||
| SNYSanofi · this page | +0.6% | 25.3% | 0.15 | −33.5% | +61.5% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.25 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against SNY. 17 of 21 passed at least one test. | |||||||||
 JNJJohnson & Johnson · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.35 | — | |
 NVSNovartis AG · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.58 | — | |
 AMGNAmgen Inc. · Biotechnology | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.46 | — | |
 ABBVAbbVie Inc. · Pharmaceuticals | Higher return, lower volatilityHigher return in most periods | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.30 | — | |
 TAKTakeda Pharmaceutical Company Limited · Pharmaceuticals | Higher return, lower volatilityHigher return in most periods | +11.9% | 19.4% | 0.68 | −54.4% | +30.4% | 0.44 | — | |
 GILDGilead Sciences, Inc. · Biotechnology | Higher return, similar volatilityHigher return in most periods | +22.8% | 24.9% | 0.95 | −30.5% | +200% | 0.22 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Pharmaceuticals and the categories next to it (Biotechnology, Health Care Distribution, Life Sciences Tools, Medical Devices), plus SNY's specific themes. 32 of 105 passed at least one test. | |||||||||
 CORCencora, Inc. · Health Care Distribution | Higher return, lower volatilityHigher return in most periods | +24.2% | 22.8% | 1.07 | −32.4% | +406% | 0.35 | — | |
 CAHCardinal Health, Inc. · Health Care Distribution | On the frontierHigher return, similar volatilityHigher return in most periods | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.04 | — | |
RPRXRoyalty Pharma plc · Pharmaceuticals | Higher return, lower volatilityHigher return in most periods | +13.3% | 23.8% | 0.65 | −49.7% | — | 0.26 | — | |
 BDXBecton, Dickinson and Company · Medical Devices | Higher return, lower volatilityHigher return in most periods | +2.3% | 24.1% | 0.22 | −39.9% | +71.4% | 0.40 | — | |
IBBiShares Biotechnology ETF · Biotechnology | Higher return, lower volatilityHigher return in most periods | +6.2% | 22.4% | 0.38 | −39.8% | +140% | 0.30 | 0.44% | |
 MCKMcKesson Corporation · Health Care Distribution | Higher return, similar volatilityHigher return in most periods | +38.7% | 25.0% | 1.44 | −38.1% | +586% | 0.06 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,785 of 3,507 passed at least one test. | |||||||||
 SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +3.8% | 0.3% | 13.25 | −0.3% | — | 0.09 | 0.09% | |
 GLDSPDR Gold Shares · Gold | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.25 | 0.40% | |
JAAAJanus Henderson AAA CLO ETF · CLO Bonds | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +5.1% | 1.7% | 2.98 | −2.6% | — | -0.08 | 0.20% | |
CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +7.7% | 13.3% | 0.63 | −23.8% | +101% | 0.18 | — | |
HYGHiShares Interest Rate Hedged High Yield Bond ETF · Bonds | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +6.6% | 7.1% | 0.94 | −23.9% | +74.5% | 0.27 | 1.12% | |
 WMTWalmart Inc. · Discount Retail | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.10 | — | |
DTMDT Midstream, Inc. · Oil & Gas Midstream | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +24.5% | 25.2% | 1.00 | −23.6% | — | 0.10 | — | |
SUBiShares Short-Term National Muni Bond ETF · Municipal Bonds | Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +1.4% | 1.7% | 0.85 | −9.4% | +15.6% | 0.38 | 0.07% | |
What these numbers mean for SNY
- Annual return
- SNY returned 0.6% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $10,300. 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
- SNY's volatility over the past 5 years was 25.3%, 1.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, SNY's return lands within 25.3% 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
- SNY's Sharpe ratio over the past 5 years was 0.15, against 0.79 for the S&P 500, so SNY 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
- SNY's worst fall from a peak to a low over the past 10 years was 33.5%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 33.5% fall takes a 50.4% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, SNY's monthly returns had a correlation of 0.25 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against SNY instead: the lower it is, the more that option would diversify a SNY holding. Guide: Correlation and diversification →
Show all 898 stocks and funds worth at least $500 million that earned more than SNY 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 SNY | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds | Whole market | +3.8% | 0.3% | 13.25 | −0.3% | — | 0.09 | 0.09% |
| 2 | GLDSPDR Gold Shares · Gold | Whole market | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.25 | 0.40% |
| 3 | JAAAJanus Henderson AAA CLO ETF · CLO Bonds | Whole market | +5.1% | 1.7% | 2.98 | −2.6% | — | -0.08 | 0.20% |
| 4 | CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications | Whole market | +7.7% | 13.3% | 0.63 | −23.8% | +101% | 0.18 | — |
| 5 | HYGHiShares Interest Rate Hedged High Yield Bond ETF · Bonds | Whole market | +6.6% | 7.1% | 0.94 | −23.9% | +74.5% | 0.27 | 1.12% |
| 6 | WMTWalmart Inc. · Discount Retail | Whole market | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.10 | — |
| 7 | VRIGInvesco Variable Rate Investment Grade ETF · Bonds | Whole market | +4.7% | 1.3% | 3.51 | −13.1% | +40.5% | -0.11 | 0.30% |
| 8 | BALTInnovator Defined Wealth Shield ETF · Crypto | Whole market | +6.3% | 3.3% | 1.85 | −4.9% | — | 0.21 | 0.69% |
| 9 | FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Financials | Whole market | +6.0% | 2.3% | 2.55 | −21.0% | +58.0% | 0.06 | 0.60% |
| 10 | AOMiShares Core 40/60 Moderate Allocation ETF · Multi-Asset | Whole market | +4.4% | 8.3% | 0.56 | −20.0% | +77.8% | 0.39 | 0.20% |
| 11 |  PGThe Procter & Gamble Company · Household & Personal Products | Whole market | +5.1% | 18.3% | 0.37 | −23.8% | +145% | 0.25 | — |
| 12 | FLOTiShares Floating Rate Bond ETF · Floating Rate Bonds | Whole market | +4.5% | 1.8% | 2.48 | −13.5% | +35.9% | -0.12 | 0.15% |
| 13 |  VTIPVanguard Short-Term Inflation-Protected Securities ETF · Treasury Bonds | Whole market | +2.7% | 2.9% | 0.94 | −6.3% | +32.7% | 0.53 | 0.03% |
| 14 |  EP-PCEl Paso Energy Capital Trust I PFD CV TR SECS · Preferred Stocks | Whole market | +5.2% | 8.9% | 0.61 | −25.4% | +37.8% | 0.00 | — |
| 15 |  DFACDimensional - US Core Equity 2 ETF · US Total Market | Whole market | +11.4% | 17.0% | 0.72 | −23.1% | — | 0.27 | 0.21% |
| 16 | PJULInnovator U.S. Equity Power Buffer ETF · Broad Market | Whole market | +10.5% | 8.6% | 1.20 | −18.2% | — | 0.27 | 0.79% |
| 17 | FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset | Whole market | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.28 | 0.85% |
| 18 |  BSVVanguard Short-Term Bond ETF · Short-Term Bonds | Whole market | +1.7% | 2.8% | 0.63 | −8.5% | +20.5% | 0.49 | 0.03% |
| 19 |  VCSHVanguard Short-Term Corporate Bond ETF · Investment Grade Bonds | Whole market | +2.3% | 2.9% | 0.80 | −12.9% | +28.6% | 0.46 | 0.03% |
| 20 |  JEPIJPMorgan Equity Premium Income ETF · Equity Income | Whole market | +7.5% | 11.0% | 0.71 | −13.7% | — | 0.40 | 0.35% |
| 21 | VNLAJanus Henderson Short Duration Income ETF · Bonds | Whole market | +4.0% | 1.1% | 3.77 | −4.5% | — | 0.15 | 0.25% |
| 22 |  XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity | Whole market | +8.4% | 15.3% | 0.60 | −28.4% | +202% | 0.51 | 0.08% |
| 23 | FLTRVanEck IG Floating Rate ETF · Multi-Asset | Whole market | +4.8% | 2.1% | 2.20 | −17.8% | +41.8% | -0.19 | 0.14% |
| 24 | FLRNState Street SPDR Bloomberg Investment Grade Floating Rate ETF · Bonds | Whole market | +4.5% | 1.7% | 2.58 | −14.7% | +35.9% | -0.06 | 0.15% |
| 25 | DFIVDimensional - International Value ETF · International Equity | Whole market | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.47 | 0.27% |
| 26 | AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Whole market | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.29 | 0.15% |
| 27 | FLDRFidelity Low Duration Bond Factor ETF · Bonds | Whole market | +3.9% | 1.2% | 3.09 | −12.2% | — | 0.25 | 0.15% |
| 28 | SCHOSchwab Short-Term U.S. Treasury ETF · Treasury Bonds | Whole market | +2.0% | 2.0% | 0.96 | −5.7% | +18.9% | 0.50 | 0.03% |
| 29 | DFATDimensional - US Targeted Value ETF · US Small-Cap Equity | Whole market | +9.6% | 21.0% | 0.54 | −26.1% | — | 0.27 | 0.33% |
| 30 | TBUXT. Rowe Price Ultra Short-Term Bond ETF · Bonds | Whole market | +4.1% | 1.1% | 3.85 | −1.8% | — | 0.18 | 0.17% |
| 31 | USHYiShares Broad USD High Yield Corporate Bond ETF · High Yield Bonds | Whole market | +3.6% | 7.4% | 0.52 | −22.4% | — | 0.43 | 0.08% |
| 32 | RAVINorthern Trust Ultra-Short Fixed Income ETF · Bonds | Whole market | +3.8% | 1.4% | 2.61 | −3.7% | +30.8% | 0.09 | 0.26% |
| 33 | DFAIDimensional - International Core Equity Market ETF · Developed International Equity | Whole market | +9.7% | 16.0% | 0.66 | −27.4% | — | 0.47 | 0.18% |
| 34 | BUFRFT Vest Laddered Buffer ETF · Buffered Equity | Whole market | +9.9% | 10.5% | 0.96 | −13.7% | — | 0.29 | 0.10% |
| 35 |  RYRoyal Bank of Canada · Banks | Whole market | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.30 | — |
| 36 | USTBVictoryShares Short-Term Bond ETF · Bonds | Whole market | +3.6% | 2.0% | 1.73 | −5.3% | — | 0.41 | 0.34% |
| 37 | BKLNInvesco Senior Loan ETF · Bank Loans | Whole market | +5.4% | 4.5% | 1.19 | −24.1% | +50.7% | 0.21 | 0.67% |
| 38 | LMBSFirst Trust Low Duration Opportunities ETF · Mortgage-Backed Securities | Whole market | +3.0% | 2.6% | 1.14 | −6.5% | +25.6% | 0.38 | 0.66% |
| 39 | SRLNState Street Blackstone Senior Loan ETF · Bank Loans | Whole market | +4.7% | 3.9% | 1.18 | −22.3% | +54.2% | 0.11 | 0.70% |
| 40 | XLPState Street Consumer Staples Select Sector SPDR ETF · Consumer Staples | Whole market | +7.2% | 13.8% | 0.57 | −24.5% | +121% | 0.38 | 0.08% |
| 41 | JNJJohnson & Johnson · Pharmaceuticals | Popular alternative | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.35 | — |
| 42 | NVSNovartis AG · Pharmaceuticals | Popular alternative | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.58 | — |
| 43 | FTSLFirst Trust Senior Loan Fund · Bonds | Whole market | +5.0% | 3.4% | 1.49 | −22.7% | +52.1% | 0.14 | 0.70% |
| 44 | JAVAJPMorgan Active Value ETF · US Large-Cap Value | Whole market | +11.5% | 14.5% | 0.82 | −16.5% | — | — | 0.44% |
| 45 | BKLCBNY Mellon US Large Cap Core Equity ETF · US Large-Cap Equity | Whole market | +13.8% | 17.3% | 0.84 | −26.2% | — | 0.22 | 0.00% |
| 46 | QYLDGlobal X - Nasdaq 100 Covered Call ETF · Equity Income | Whole market | +8.4% | 15.0% | 0.62 | −24.7% | +156% | 0.21 | 0.60% |
| 47 | DBMFiMGP DBi Managed Futures Strategy ETF · Alternatives | Whole market | +9.8% | 12.4% | 0.82 | −20.4% | — | -0.21 | 0.85% |
| 48 | FLUDFranklin Ultra Short Bond ETF · Bonds | Whole market | +3.9% | 1.4% | 2.74 | −1.7% | — | 0.10 | 0.15% |
| 49 | EFAViShares MSCI EAFE Min Vol Factor ETF · International Equity | Whole market | +7.6% | 11.9% | 0.68 | −27.6% | +97.7% | 0.51 | 0.20% |
| 50 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.18 | — |
| 51 | FTLSFirst Trust Long/Short Equity ETF · Broad Market | Whole market | +10.2% | 10.4% | 0.99 | −20.6% | +158% | 0.28 | 0.95% |
| 52 | PTLCPacer Trendpilot US Large Cap ETF · Broad Market | Whole market | +9.5% | 11.8% | 0.83 | −26.6% | +188% | 0.17 | 0.60% |
| 53 | GSUSGoldman Sachs MarketBeta U.S. Equity ETF · Broad Market | Whole market | +12.4% | 17.2% | 0.77 | −25.6% | — | 0.24 | 0.09% |
| 54 | DIVIFranklin International Core Dividend Tilt Index ETF · International | Whole market | +13.4% | 15.5% | 0.89 | −27.7% | +184% | 0.48 | 0.09% |
| 55 | PECOPhillips Edison & Co. · Retail REITs | Whole market | +7.4% | 22.3% | 0.43 | −23.1% | — | 0.14 | — |
| 56 | ACIOAptus Collared Income Opportunity ETF · Dividend & Income | Whole market | +9.3% | 11.1% | 0.86 | −14.2% | — | 0.24 | 0.79% |
| 57 | BSCRInvesco BulletShares 2027 Corporate Bond ETF · Investment Grade Bonds | Whole market | +1.7% | 4.1% | 0.44 | −17.3% | — | 0.42 | 0.10% |
| 58 | SCHYSchwab International Dividend Equity ETF · International | Whole market | +9.5% | 13.3% | 0.75 | −24.0% | — | 0.54 | 0.08% |
| 59 | LDURPIMCO Enhanced Low Duration Active Exchange-Traded Fund · Bonds | Whole market | +2.4% | 2.1% | 1.13 | −8.7% | +26.7% | 0.37 | 0.54% |
| 60 | EMLCVanEck J.P. Morgan EM Local Currency Bond ETF · International Bonds | Whole market | +2.4% | 9.1% | 0.30 | −26.4% | +18.2% | 0.40 | 0.30% |
| 61 | JPIBJPMorgan International Bond Opportunities ETF · Bonds | Whole market | +2.5% | 4.2% | 0.62 | −13.1% | — | 0.35 | 0.50% |
| 62 |  BRK-BBerkshire Hathaway Inc. · Insurance | Whole market | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.39 | — |
| 63 | INFLHorizon Kinetics Inflation Beneficiaries ETF · Broad Market | Whole market | +11.8% | 17.8% | 0.72 | −21.3% | — | 0.34 | 0.85% |
| 64 | PREFPrincipal Spectrum Preferred Securities Active ETF · Bonds | Whole market | +2.5% | 4.9% | 0.52 | −23.0% | — | 0.23 | 0.55% |
| 65 | TDVGT. Rowe Price Dividend Growth ETF · Dividend & Income | Whole market | +9.6% | 13.8% | 0.73 | −19.2% | — | 0.35 | 0.50% |
| 66 | PTNQPacer Trendpilot 100 ETF · Technology | Whole market | +9.7% | 14.1% | 0.73 | −28.1% | +305% | 0.18 | 0.65% |
| 67 | FTQIFirst Trust Nasdaq BuyWrite Income ETF · Dividend & Income | Whole market | +11.5% | 14.8% | 0.82 | −19.4% | +121% | 0.19 | 0.75% |
| 68 | AVESAvantis Emerging Markets Value ETF · International | Whole market | +8.0% | 17.4% | 0.53 | −27.4% | — | 0.26 | 0.36% |
| 69 | FLSPFranklin Systematic Style Premia ETF · Alternatives | Whole market | +8.4% | 13.4% | 0.68 | −22.9% | — | 0.05 | 0.65% |
| 70 | SMIGBahl & Gaynor Small/Mid Cap Income Growth ETF · Dividend & Income | Whole market | +6.5% | 16.0% | 0.48 | −19.7% | — | 0.29 | 0.60% |
| 71 | SIXHETC 6 Meridian Hedged Equity Index Option ETF · Broad Market | Whole market | +10.2% | 10.2% | 1.00 | −11.7% | — | 0.43 | 0.31% |
| 72 | FFSMFidelity Fundamental Small-Mid Cap ETF · Broad Market | Whole market | +7.6% | 20.8% | 0.46 | −26.7% | — | 0.26 | 0.43% |
| 73 |  VVisa Inc. · Payment Processing | Whole market | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.34 | — |
| 74 | QAINYLI Hedge Multi-Strategy Tracker ETF · Alternatives | Whole market | +4.1% | 6.8% | 0.64 | −14.9% | +44.1% | 0.27 | 0.75% |
| 75 | DXJWisdomTree Japan Hedged Equity Fund · International Equity | Whole market | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.12 | 0.48% |
| 76 | KXIiShares Global Consumer Staples ETF · International | Whole market | +5.6% | 12.9% | 0.49 | −24.6% | +87.8% | 0.46 | 0.38% |
| 77 | HFSIHartford Strategic Income ETF · Bonds | Whole market | +2.3% | 4.9% | 0.48 | −19.3% | — | 0.39 | 0.49% |
| 78 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.43 | 0.40% |
| 79 |  KOThe Coca-Cola Company · Food & Beverages | Whole market | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.49 | — |
| 80 |  COSTCostco Wholesale Corporation · Discount Retail | Whole market | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.14 | — |
| 81 |  VXUSVanguard Total International Stock ETF · International Equity | Whole market | +8.2% | 16.4% | 0.57 | −36.0% | +140% | 0.42 | 0.05% |
| 82 | DRSKAptus Defined Risk ETF · Crypto | Whole market | +2.0% | 7.5% | 0.30 | −19.9% | — | 0.35 | 0.79% |
| 83 |  QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth | Whole market | +14.5% | 23.0% | 0.71 | −35.1% | +553% | 0.12 | 0.18% |
| 84 |  MAMastercard Incorporated · Payment Processing | Whole market | +12.4% | 23.8% | 0.61 | −41.0% | +541% | 0.45 | — |
| 85 | WTPIWisdomTree Equity Premium Income Fund · Alternatives | Whole market | +9.1% | 12.2% | 0.78 | −28.4% | +121% | 0.25 | 0.44% |
| 86 |  PMPhilip Morris International Inc. · Tobacco | Whole market | +21.0% | 23.4% | 0.94 | −42.9% | +242% | 0.36 | — |
| 87 | CDCVictoryShares US EQ Income Enhanced Volatility Wtd ETF · Dividend & Income | Whole market | +6.0% | 12.5% | 0.53 | −21.4% | +168% | 0.32 | 0.38% |
| 88 |  WELLWelltower Inc. · Healthcare REITs | Whole market | +26.0% | 23.8% | 1.09 | −63.3% | +379% | 0.17 | — |
| 89 | KMLMKraneShares Mount Lucas Managed Futures Index Strategy ETF · Broad Market | Whole market | +5.8% | 14.6% | 0.46 | −27.5% | — | -0.20 | 0.90% |
| 90 | HNDLStrategy Shares Nasdaq 7HANDL Index ETF · Multi-Asset | Whole market | +3.9% | 11.6% | 0.39 | −23.7% | — | 0.34 | 0.95% |
| 91 |  TDThe Toronto-Dominion Bank · Banks | Whole market | +15.8% | 20.0% | 0.84 | −42.0% | +310% | 0.24 | — |
| 92 |  TJXThe TJX Companies, Inc. · Specialty Retail | Whole market | +19.9% | 22.3% | 0.93 | −42.5% | +361% | 0.26 | — |
| 93 | DBAInvesco DB Agriculture Fund · Alternatives | Whole market | +10.7% | 13.8% | 0.81 | −35.3% | +62.2% | 0.19 | 0.90% |
| 94 |  LINLinde plc · Chemicals | Whole market | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.27 | — |
| 95 |  BTIBritish American Tobacco p.l.c. · Tobacco | Whole market | +18.7% | 22.0% | 0.90 | −56.1% | +98.2% | 0.24 | — |
| 96 |  CBChubb Limited · Property & Casualty Insurance | Whole market | +15.7% | 20.4% | 0.82 | −42.6% | +248% | 0.27 | — |
| 97 |  MOAltria Group, Inc. · Tobacco | Whole market | +17.8% | 21.4% | 0.88 | −53.7% | +140% | 0.19 | — |
| 98 |  WMBThe Williams Companies, Inc. · Oil & Gas Midstream | Whole market | +24.6% | 24.0% | 1.04 | −68.1% | +288% | 0.17 | — |
| 99 |  CMCanadian Imperial Bank of Commerce · Banks | Whole market | +19.2% | 21.6% | 0.93 | −47.3% | +395% | 0.25 | — |
| 100 |  VOVanguard Morningstar Mid-Cap ETF · US Mid-Cap Equity | Whole market | +6.8% | 17.6% | 0.47 | −39.4% | +198% | 0.27 | 0.03% |
SNY against its popular alternatives
The investments people most often weigh against SNY, compared period by period and year by year.
How do SNY'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 SNY, which divides the map into what did better or worse on each measure.
- Nine of the 21 popular alternatives, led by ABBV, GILD and AMGN, were both more rewarding and calmer than SNY over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, SNY returned 0.6% a year, less than the S&P 500's 12.7%, with higher volatility (25.3% against 17.1%).
Green points earned more than SNY 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 |
|---|---|---|
| LLY Eli Lilly and Company | +40.7% | 32.8% |
| TEVA Teva Pharmaceutical Industries Limited | +32.2% | 42.8% |
| ABBV AbbVie Inc. | +26.1% | 23.4% |
| GILD Gilead Sciences, Inc. | +22.8% | 24.9% |
| AMGN Amgen Inc. | +19.6% | 24.9% |
| NVS Novartis AG | +17.2% | 20.7% |
| MRK Merck & Co., Inc. | +16.3% | 24.8% |
| JNJ Johnson & Johnson | +12.7% | 17.9% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| TAK Takeda Pharmaceutical Company Limited | +11.8% | 19.4% |
| VTRS Viatris Inc. | +10.4% | 33.6% |
| GSK GSK plc | +9.5% | 24.5% |
| AZN AstraZeneca PLC | +8.7% | 35.7% |
| REGN Regeneron Pharmaceuticals, Inc. | +7.7% | 31.1% |
| BMY Bristol-Myers Squibb Company | +5.5% | 24.9% |
| CVS CVS Health Corp. | +5.3% | 30.4% |
| TMO Thermo Fisher Scientific Inc. | +2.9% | 27.8% |
| IQV IQVIA Holdings Inc. | +1.3% | 34.7% |
| SNY This pageSanofi | +0.6% | 25.3% |
| PFE Pfizer Inc. | −1.7% | 25.4% |
| BIIB Biogen Inc. | −1.8% | 34.7% |
| NVO Novo Nordisk A/S | −4.0% | 39.1% |
| BNTX BioNTech SE | −19.3% | 52.6% |
Has SNY consistently beaten its popular alternatives?
This section compares SNY 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 SNY helps separate lasting outperformance from a single strong stretch.
- 17 of the 21 popular alternatives, led by LLY, ABBV and TMO, outperformed SNY in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- LLY, ABBV and TMO outperformed SNY in every long-term period and in all but one short-term period, the most consistent record in the group.
- GILD, NVS and AMGN earned more for the risk they took than SNY (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
A green cell means the alternative earned more than SNY 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 | ||
| SNY Sanofi (this page) | — | −2.6% | −5.9% | −10.3% | −10.7% | −13.4% | −10.0% | +3.0% | +61.5% | 25.3% | 0.15 | −33.5% | — | $99B | — |
| LLY QualifiedEli Lilly and Company | 5/5 short3/3 longAll-weather | +10.2% | +12.1% | +40.0% | +19.4% | +59.7% | +124% | +451% | +1,807% | 32.8% | 1.21 | −34.5% | — | $1.2T | — |
| ABBV QualifiedAbbVie Inc. | 5/5 short3/3 longAll-weather | +9.9% | +14.8% | +43.8% | +29.8% | +28.3% | +118% | +218% | +603% | 23.4% | 1.11 | −45.1% | — | $511B | — |
| TMO QualifiedThermo Fisher Scientific Inc. | 5/5 short3/3 longAll-weather | +4.3% | +30.7% | +30.9% | +16.3% | +26.8% | +49.5% | +15.1% | +366% | 27.8% | 0.24 | −40.9% | — | $254B | — |
| AMGN QualifiedAmgen Inc. | 5/5 short3/3 longAll-weather | +11.6% | +21.2% | +27.0% | +36.7% | +48.7% | +72.2% | +145% | +266% | 24.9% | 0.85 | −24.9% | — | $237B | — |
| IQV QualifiedIQVIA Holdings Inc. | 5/5 short3/3 longAll-weather | −0.8% | +31.4% | +51.5% | +18.8% | +26.3% | +45.3% | +6.5% | +260% | 34.7% | 0.21 | −51.5% | — | $44B | — |
| MRK QualifiedMerck & Co., Inc. | 5/5 short3/3 longAll-weather | −0.8% | +19.9% | +28.3% | +42.2% | +76.8% | +58.3% | +113% | +241% | 24.8% | 0.74 | −43.4% | — | $366B | — |
| NVS QualifiedNovartis AG | 5/5 short3/3 longAll-weather | +9.0% | +2.7% | +1.8% | +13.1% | +18.8% | +75.9% | +121% | +226% | 20.7% | 0.87 | −26.8% | — | $292B | — |
| GILD QualifiedGilead Sciences, Inc. | 5/5 short3/3 longAll-weather | +4.0% | +18.2% | +16.6% | +31.0% | +30.3% | +121% | +180% | +200% | 24.9% | 0.95 | −30.5% | — | $194B | — |
| REGN QualifiedRegeneron Pharmaceuticals, Inc. | 5/5 short3/3 longAll-weather | +1.2% | +20.3% | +8.0% | +4.4% | +40.7% | +0.8% | +44.9% | +120% | 31.1% | 0.40 | −59.7% | — | $83B | — |
| BMY QualifiedBristol-Myers Squibb Company | 5/5 short3/3 longAll-weather | −0.5% | +3.6% | +6.6% | +19.1% | +47.8% | +25.8% | +30.6% | +74.8% | 24.9% | 0.34 | −47.7% | — | $126B | — |
| AZN QualifiedAstraZeneca PLC | 4/5 short3/3 longAll-weather | +0.4% | +3.3% | −15.3% | −7.0% | +1.8% | +38.8% | +52.1% | +257% | 35.7% | 0.41 | −28.7% | — | $262B | — |
| JNJ QualifiedJohnson & Johnson | 4/5 short3/3 longAll-weather | −3.8% | +4.8% | +13.6% | +27.1% | +36.9% | +84.6% | +82.1% | +196% | 17.9% | 0.76 | −27.4% | — | $625B | — |
| GSK QualifiedGSK plc | 4/5 short3/3 longAll-weather | −0.9% | +2.1% | −10.1% | +4.7% | +18.9% | +60.0% | +57.2% | +95.1% | 24.5% | 0.49 | −37.6% | — | $102B | — |
| TAK QualifiedTakeda Pharmaceutical Company Limited | 5/5 short2/3 long | +8.6% | +20.3% | +16.9% | +33.6% | +48.2% | +56.1% | +75.1% | +30.4% | 19.4% | 0.68 | −54.4% | — | $64B | — |
| TEVA QualifiedTeva Pharmaceutical Industries Limited | 5/5 short2/3 long | +2.0% | +31.8% | +27.6% | +32.0% | +110% | +403% | +303% | −3.6% | 42.8% | 0.86 | −85.5% | — | $48B | — |
| VTRS QualifiedViatris Inc. | 5/5 short2/3 long | +9.1% | +10.6% | +27.3% | +53.1% | +87.1% | +127% | +64.3% | −38.0% | 33.6% | 0.47 | −82.0% | — | $21B | — |
| CVS QualifiedCVS Health Corp. | 4/5 short2/3 long | +8.2% | −11.4% | +25.6% | +21.0% | +18.5% | +52.5% | +29.2% | +47.0% | 30.4% | 0.32 | −56.8% | — | $121B | — |
| PFE Drug Manufacturers - GeneralPfizer Inc. | 5/5 short1/3 long | +8.5% | +23.8% | +13.2% | +25.7% | +30.5% | +19.2% | −8.3% | +55.0% | 25.4% | 0.06 | −58.9% | — | $172B | — |
| BIIB Drug Manufacturers - GeneralBiogen Inc. | 5/5 short1/3 long | +11.0% | +21.6% | +32.6% | +36.7% | +65.8% | −5.6% | −8.8% | −18.9% | 34.7% | 0.11 | −72.7% | — | $36B | — |
| NVO Drug Manufacturers - GeneralNovo Nordisk A/S | 2/5 short1/3 long | −1.1% | −20.0% | −1.5% | −23.9% | −28.5% | −57.0% | −18.5% | +134% | 39.1% | 0.09 | −75.2% | — | $174B | — |
| BNTX BiotechnologyBioNTech SE | 2/5 short1/3 long | −7.0% | −1.1% | −13.3% | −5.7% | −15.5% | +0.3% | −65.7% | — | 52.6% | -0.15 | −82.3% | — | $23B | — |
How did SNY do year by year?
This table shows each investment's total return in every full calendar year since 2003, along with where SNY ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with SNY and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- SNY finished ahead of the S&P 500 in seven of its 23 full calendar years, and behind it in each of the last three.
- Among its popular alternatives, IQV came out ahead of SNY most often, in ten of the 12 years both traded.
- Ranked against its popular alternatives each year, SNY finished in the top quarter in one of 23 years and in the bottom quarter in four. In 2025, it ranked 18 of 22.
Newest year first. Green marks a year in which the fund came out ahead of SNY; gray means the two finished within a fraction of a point. The rank row places SNY among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of SNY | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SNY This pageSanofi | — | +4.9% | +1.1% | +6.5% | +0.5% | +7.0% | +0.4% | +20.5% | +6.0% | +9.9% | −1.2% | −3.4% | −11.9% | +17.1% | +36.0% | +18.8% | −13.4% | +28.7% | −26.5% | +1.0% | +7.2% | +11.6% | +8.2% | +26.2% |
| Rank among alternatives | Top quarter in 1 of 23 | 18 of 22 | 8 of 22 | 9 of 22 | 15 of 22 | 14 of 22 | 12 of 22 | 11 of 21 | 10 of 21 | 14 of 21 | 8 of 21 | 16 of 21 | 20 of 21 | 16 of 20 | 6 of 19 | 8 of 19 | 18 of 19 | 5 of 19 | 14 of 18 | 12 of 18 | 14 of 18 | 8 of 18 | 8 of 18 | 11 of 18 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 16 of 23 | +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% |
| LLY Eli Lilly and Company | 14 of 23 | +40.3% | +33.3% | +60.9% | +34.3% | +66.1% | +31.0% | +16.2% | +40.5% | +17.8% | −10.4% | +25.4% | +39.8% | +7.3% | +24.2% | +25.2% | +3.6% | −6.2% | −21.3% | +5.7% | −5.2% | +2.6% | −17.6% | +13.1% |
| ABBV AbbVie Inc. | 9 of 13 | +33.1% | +18.9% | −0.2% | +24.0% | +32.4% | +27.7% | +1.5% | −1.0% | +60.1% | +9.8% | −6.5% | +27.9% | +60.7% | — | — | — | — | — | — | — | — | — | — |
| TMO Thermo Fisher Scientific Inc. | 16 of 23 | +11.8% | −1.7% | −3.4% | −17.3% | +43.5% | +43.7% | +45.6% | +18.2% | +35.0% | −0.1% | +13.8% | +13.1% | +75.8% | +43.2% | −18.8% | +16.1% | +40.0% | −40.9% | +27.4% | +50.3% | −0.2% | +19.8% | +25.3% |
| AMGN Amgen Inc. | 13 of 23 | +29.7% | −6.8% | +13.5% | +20.4% | +0.9% | −2.0% | +27.6% | +15.2% | +22.3% | −7.6% | +4.0% | +42.3% | +34.8% | +36.8% | +18.2% | −3.0% | −2.0% | +24.3% | −32.0% | −13.4% | +22.9% | +3.8% | +27.8% |
| IQV IQVIA Holdings Inc. | 10 of 12 | +14.7% | −15.1% | +12.9% | −27.4% | +57.5% | +16.0% | +33.0% | +18.7% | +28.7% | +10.8% | +16.6% | +27.0% | — | — | — | — | — | — | — | — | — | — | — |
| MRK Merck & Co., Inc. | 10 of 23 | +9.8% | −6.3% | +1.0% | +49.4% | +1.8% | −7.2% | +22.3% | +40.0% | −1.5% | +15.0% | −3.9% | +16.9% | +26.9% | +13.1% | +9.6% | +2.9% | +26.7% | −45.3% | +37.3% | +42.8% | +4.0% | −27.7% | −11.2% |
| NVS Novartis AG | 13 of 23 | +46.0% | −0.5% | +21.1% | +6.6% | −5.0% | +2.2% | +29.1% | +6.2% | +19.8% | −11.8% | −4.3% | +19.4% | +32.2% | +16.1% | +1.5% | +12.6% | +14.6% | −5.4% | −3.4% | +11.3% | +6.0% | +12.3% | +27.5% |
| GILD Gilead Sciences, Inc. | 14 of 23 | +36.6% | +18.7% | −2.0% | +23.6% | +29.9% | −6.7% | +7.9% | −9.9% | +3.0% | −27.6% | +8.6% | +25.5% | +105% | +79.5% | +12.9% | −16.3% | −15.4% | +11.2% | +41.7% | +23.4% | +50.2% | +20.1% | +71.4% |
| REGN Regeneron Pharmaceuticals, Inc. | 16 of 23 | +9.0% | −18.9% | +21.7% | +14.2% | +30.7% | +28.7% | +0.5% | −0.7% | +2.4% | −32.4% | +32.3% | +49.0% | +60.9% | +209% | +68.8% | +35.8% | +31.7% | −24.0% | +20.3% | +26.2% | +72.7% | −37.4% | −20.6% |
| BMY Bristol-Myers Squibb Company | 12 of 23 | +0.1% | +15.8% | −26.1% | +19.0% | +2.9% | +0.4% | +27.7% | −12.9% | +7.7% | −13.5% | +19.3% | +14.2% | +70.0% | −3.8% | +39.4% | +8.8% | +14.8% | −6.1% | +4.8% | +19.9% | −6.2% | −7.2% | +29.1% |
| AZN AstraZeneca PLC | 15 of 23 | +38.0% | −1.2% | +0.8% | +20.4% | +17.9% | +2.9% | +37.4% | +13.9% | +35.3% | −16.7% | +0.1% | +24.6% | +32.0% | +8.6% | +6.0% | +3.5% | +20.4% | +0.3% | −17.1% | +12.7% | +36.9% | −22.0% | +38.2% |
| JNJ Johnson & Johnson | 14 of 23 | +47.5% | −4.8% | −8.6% | +6.0% | +11.4% | +10.8% | +16.2% | −5.1% | +24.4% | +15.3% | +1.2% | +17.3% | +34.6% | +10.8% | +9.9% | −0.6% | +11.3% | −7.7% | +3.6% | +12.4% | −3.4% | +25.2% | −2.0% |
| GSK GSK plc | 13 of 23 | +51.3% | −5.2% | +9.8% | −16.8% | +27.1% | −17.7% | +29.2% | +13.8% | −3.0% | +2.1% | −0.3% | −15.7% | +28.9% | +0.6% | +22.7% | −2.1% | +19.2% | −22.2% | −0.8% | +7.9% | +9.9% | +5.6% | +28.8% |
| TAK Takeda Pharmaceutical Company Limited | 7 of 17 | +22.7% | −3.2% | −4.8% | +20.1% | −21.6% | −3.0% | +22.1% | −38.8% | +41.3% | −14.0% | +24.4% | −6.5% | +7.4% | +5.8% | −5.0% | +21.2% | −16.1% | — | — | — | — | — | — |
| TEVA Teva Pharmaceutical Industries Limited | 12 of 23 | +41.6% | +111% | +14.5% | +13.9% | −17.0% | −1.5% | −36.4% | −18.6% | −46.0% | −43.2% | +16.7% | +47.4% | +10.9% | −5.1% | −21.0% | −5.9% | +33.6% | −7.4% | +50.9% | −27.1% | +45.2% | +6.1% | +47.8% |
| VTRS Viatris Inc. | 8 of 23 | +5.0% | +19.7% | +2.0% | −14.3% | −26.2% | −6.8% | −26.6% | −35.2% | +10.9% | −29.4% | −4.1% | +29.9% | +58.1% | +27.9% | +1.6% | +14.6% | +86.4% | −29.7% | −29.1% | +1.1% | +14.2% | −29.6% | +63.5% |
| CVS CVS Health Corp. | 11 of 23 | +84.3% | −40.8% | −12.6% | −7.6% | +54.9% | −5.1% | +17.3% | −7.0% | −5.8% | −17.8% | +2.9% | +36.5% | +50.4% | +20.3% | +19.0% | +9.1% | +13.2% | −27.2% | +29.4% | +17.7% | +17.8% | +25.7% | +45.7% |
| PFE Pfizer Inc. | 12 of 23 | +0.6% | −2.2% | −41.3% | −10.4% | +66.7% | +3.4% | −6.7% | +25.1% | +16.1% | +4.4% | +7.3% | +5.4% | +26.5% | +20.6% | +28.8% | +0.6% | +8.1% | −16.9% | −8.2% | +15.3% | −10.6% | −22.3% | +17.7% |
| BIIB Biogen Inc. | 11 of 23 | +15.1% | −40.9% | −6.6% | +15.4% | −2.0% | −17.5% | −1.4% | −5.5% | +12.3% | −7.4% | −9.8% | +21.4% | +91.0% | +33.0% | +64.1% | +25.3% | +12.3% | −16.3% | +15.7% | +8.6% | −32.0% | +81.5% | +10.6% |
| NVO Novo Nordisk A/S | 15 of 23 | −39.2% | −15.9% | +54.8% | +22.6% | +63.5% | +23.3% | +28.7% | −11.8% | +54.3% | −36.6% | +39.3% | +16.7% | +15.3% | +44.0% | +4.1% | +79.3% | +27.2% | −19.8% | +57.4% | +51.3% | +5.6% | +34.6% | +43.5% |
| BNTX BioNTech SE | 3 of 6 | −16.4% | +8.0% | −29.7% | −41.0% | +216% | +141% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Risk and diversification
How SNY 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 SNY's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents SNY's five deepest drawdowns since it began trading in 2002, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
- In all five of SNY's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: SNY fell 28.5% from March 2025 to October 2026, while the S&P 500 rose 38.5%.
- The slowest recovery came after SNY fell 30.8% from September 2014 to February 2016; it did not regain that peak until October 2019, four years later.
Green means SNY fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | SNY fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2008 financial crisis | −46.7% | −42.8% | Jul 2006 | Mar 2009 | 2.7 years | Jul 2011 | 2.3 years |
| 2022 bear market | −33.5% | −7.0% | May 2022 | Sep 2022 | 4 months | Apr 2023 | 7 months |
| 2015 China and oil sell-off | −30.8% | −5.8% | Sep 2014 | Feb 2016 | 17 months | Oct 2019 | 3.7 years |
| Dot-com bust | −29.0% | −8.9% | Aug 2002 | Feb 2003 | 6 months | May 2003 | 3 months |
| No named crash | −28.5% | +38.5% | Mar 2025 | Oct 2026 | 19 months | Not yet | — |
How did SNY do in stock market crashes?
This section measures how far SNY, 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.
Note: SNY began trading on July 1, 2002, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.
- Among its popular alternatives, AMGN held up best, falling less than SNY in seven of the nine crashes they both traded through.
- SNY began trading after the dot-com bust, but 17 of its popular alternatives lived through it. The mildest fall among them was NVS's 25.7%, against 47.5% for the S&P 500.
- SNY fell further than the S&P 500 in five of the nine crashes it has traded through. The clearest case was the 2015 China and oil sell-off, when SNY fell 30.2% and the S&P 500 fell 12.8%.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than SNY.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNY This pageSanofi | — | −0.5% | −33.5% | −25.2% | −9.0% | −9.8% | −30.2% | −20.7% | −2.8% | −46.6% | Not yet trading |
| SPY S&P 500State Street SPDR S&P 500 ETF | 5 of 9 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| LLY Eli Lilly and Company | 6 of 9 | −0.6% | −11.7% | −16.9% | −10.2% | −8.6% | −19.6% | −10.9% | 0.0% | −50.0% | −54.3% |
| ABBV AbbVie Inc. | 2 of 6 | −1.5% | −21.9% | −32.1% | −18.1% | −5.8% | −29.8% | — | — | — | — |
| TMO Thermo Fisher Scientific Inc. | 3 of 9 | −2.4% | −19.8% | −24.8% | −17.2% | −8.7% | −14.7% | −24.4% | −3.6% | −53.9% | −41.8% |
| AMGN Amgen Inc. | 7 of 9 | −1.2% | −11.9% | −18.3% | −14.3% | −7.4% | −22.1% | −12.6% | −0.5% | −31.3% | −60.2% |
| IQV IQVIA Holdings Inc. | 2 of 6 | −6.8% | −35.9% | −48.9% | −19.2% | −5.3% | −28.7% | — | — | — | — |
| MRK Merck & Co., Inc. | 5 of 9 | −2.4% | −10.8% | −19.3% | −9.7% | −6.6% | −18.2% | −17.4% | −2.3% | −63.3% | −57.5% |
| NVS Novartis AG | 4 of 9 | −1.1% | −20.4% | −25.5% | −9.9% | −6.6% | −30.1% | −14.5% | −2.6% | −41.7% | −25.7% |
| GILD Gilead Sciences, Inc. | 7 of 9 | −1.6% | −20.0% | −13.7% | −22.7% | −5.5% | −28.7% | −18.2% | −2.1% | −34.3% | −53.6% |
| REGN Regeneron Pharmaceuticals, Inc. | 3 of 9 | −0.2% | −25.8% | −12.7% | −17.3% | −7.3% | −37.7% | −23.2% | −7.2% | −49.9% | −71.6% |
| BMY Bristol-Myers Squibb Company | 6 of 9 | −2.3% | −16.0% | −29.4% | −22.9% | −4.1% | −16.3% | −10.5% | 0.0% | −39.2% | −69.5% |
| AZN AstraZeneca PLC | 7 of 9 | −0.5% | −25.7% | −22.6% | −11.4% | −6.4% | −18.0% | −16.4% | −1.1% | −37.4% | −43.5% |
| JNJ Johnson & Johnson | 6 of 9 | −1.1% | −12.7% | −25.4% | −16.9% | −8.2% | −9.0% | −9.8% | −0.1% | −34.4% | −35.9% |
| GSK GSK plc | 4 of 9 | −0.3% | −37.6% | −26.5% | −11.5% | −4.3% | −15.7% | −12.4% | −2.0% | −46.6% | −45.1% |
| TAK Takeda Pharmaceutical Company Limited | 4 of 8 | −0.6% | −14.8% | −31.5% | −27.9% | −6.5% | −17.0% | −5.6% | −3.7% | — | — |
| TEVA Teva Pharmaceutical Industries Limited | 2 of 9 | −7.4% | −34.0% | −50.3% | −40.1% | −10.7% | −21.8% | −25.8% | −2.4% | −23.5% | −34.7% |
| VTRS Viatris Inc. | 2 of 9 | −6.9% | −43.3% | −37.3% | −32.8% | −6.8% | −31.9% | −32.4% | −0.1% | −64.4% | −47.3% |
| CVS CVS Health Corp. | 6 of 9 | −4.4% | −19.9% | −27.3% | −22.1% | −9.2% | −16.9% | −14.2% | −1.1% | −45.3% | −62.4% |
| PFE Pfizer Inc. | 6 of 9 | −1.8% | −24.6% | −21.8% | −12.3% | −8.1% | −18.2% | −16.1% | −1.8% | −49.8% | −46.0% |
| BIIB Biogen Inc. | 5 of 9 | −2.5% | −22.4% | −21.2% | −21.7% | −9.3% | −24.6% | −19.4% | −0.6% | −52.7% | −59.8% |
| NVO Novo Nordisk A/S | 6 of 9 | −1.1% | −21.4% | −23.7% | −13.8% | −3.9% | −20.8% | −23.1% | −1.7% | −40.9% | −51.0% |
| BNTX BioNTech SE | 0 of 3 | −1.2% | −45.7% | −49.5% | — | — | — | — | — | — | — |
How closely does SNY 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 SNY with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- Over the past 10 years, SNY captured 53% of the S&P 500's gains in rising months and 74% of its losses in falling months, with a beta of 0.46. Its share of the market's losses was larger than its share of the gains.
- 14 of the 20 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than SNY's 0.72, led by LLY, ABBV and AZN.
- LLY took just 6% of the S&P 500's losses, against 74% for SNY, while still keeping 101% of its gains.
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 SNY's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| SNY This pageSanofi | 53% | 74% | 0.72 | 0.46 |
| LLY Eli Lilly and Company | 101% | 6% | 15.73 | 0.37 |
| ABBV AbbVie Inc. | 92% | 57% | 1.62 | 0.54 |
| AZN AstraZeneca PLC | 60% | 39% | 1.52 | 0.39 |
| GILD Gilead Sciences, Inc. | 52% | 36% | 1.44 | 0.35 |
| MRK Merck & Co., Inc. | 64% | 46% | 1.39 | 0.30 |
| JNJ Johnson & Johnson | 64% | 53% | 1.20 | 0.46 |
| AMGN Amgen Inc. | 74% | 64% | 1.16 | 0.54 |
| NVS Novartis AG | 69% | 64% | 1.08 | 0.49 |
| TMO Thermo Fisher Scientific Inc. | 104% | 104% | 1.00 | 0.81 |
| REGN Regeneron Pharmaceuticals, Inc. | 55% | 66% | 0.84 | 0.19 |
| GSK GSK plc | 51% | 61% | 0.82 | 0.52 |
| NVO Novo Nordisk A/S | 75% | 94% | 0.80 | 0.60 |
| IQV IQVIA Holdings Inc. | 128% | 167% | 0.77 | 1.31 |
| BMY Bristol-Myers Squibb Company | 55% | 75% | 0.73 | 0.41 |
| PFE Pfizer Inc. | 52% | 81% | 0.65 | 0.54 |
| CVS CVS Health Corp. | 59% | 99% | 0.60 | 0.70 |
| TAK Takeda Pharmaceutical Company Limited | 34% | 58% | 0.58 | 0.44 |
| TEVA Teva Pharmaceutical Industries Limited | 55% | 116% | 0.48 | 1.11 |
| VTRS Viatris Inc. | 74% | 179% | 0.41 | 1.14 |
| BIIB Biogen Inc. | 35% | 91% | 0.38 | 0.28 |
What diversifies SNY?
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 SNY's. Because such investments tend not to fall at the same time, pairing SNY with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in SNY into DXJ would have cut the portfolio's volatility by 18% over the past 5 years and raised its annual return (+0.9% for SNY alone, +6.1% for the mix).
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of SNY over the past 5 years, with correlations of 0.43 or lower, and each still earned a positive 5-year return.
- FIX made money in three of the five calendar years in which SNY lost money.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which SNY lost money. The last two columns show a portfolio that is 80% SNY and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2016 | 2015 | 2014 | 2010 | 2008 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|
| SNY Sanofi (this page) | 1.00 | +3.0% | 0.15 | −1.2% | −3.4% | −11.9% | −13.4% | −26.5% | 21.2% | +0.9% |
| LVHI InternationalFranklin International Low Volatility High Dividend Index ETF | 0.43 | +119% | 1.48 | — | — | — | — | — | 17.8% | +4.2% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.12 | +225% | 1.34 | +1.1% | +7.7% | +8.1% | −1.8% | −20.8% | 17.4% | +6.1% |
| EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund | 0.26 | +101% | 1.04 | +29.8% | −25.3% | +23.8% | — | — | 17.9% | +4.0% |
| HDV Dividend & IncomeiShares Core High Dividend ETF | 0.49 | +83.3% | 1.00 | +15.9% | −0.3% | +12.6% | — | — | 18.5% | +3.3% |
| SMH TechnologyVanEck Semiconductor ETF | 0.06 | +323% | 0.97 | +35.6% | −0.3% | +30.2% | +19.0% | −44.7% | 18.7% | +8.6% |
| DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF | 0.39 | +85.0% | 0.96 | +6.3% | +4.1% | +3.4% | — | — | 17.9% | +3.6% |
| GLD CommoditiesSPDR Gold Shares | 0.25 | +126% | 0.96 | +8.0% | −10.7% | −2.2% | +29.3% | +4.9% | 18.1% | +4.6% |
| SPMO Broad MarketInvesco S&P 500 Momentum ETF | 0.12 | +136% | 0.93 | +7.4% | — | — | — | — | 17.9% | +5.4% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2016 | 2015 | 2014 | 2010 | 2008 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|
| SNY Sanofi (this page) | 1.00 | +3.0% | 0.15 | −1.2% | −3.4% | −11.9% | −13.4% | −26.5% | 21.2% | +0.9% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.04 | +479% | 1.55 | −17.5% | +12.6% | +23.0% | +21.4% | −39.6% | 18.0% | +8.3% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.02 | +3,143% | 1.47 | +7.4% | −6.0% | +12.9% | +2.8% | −20.5% | 20.8% | +20.3% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | -0.06 | +1,636% | 1.46 | +18.3% | +67.7% | −10.4% | +8.7% | −15.2% | 18.7% | +16.7% |
| MCK Medical - DistributionMcKesson Corporation | 0.06 | +413% | 1.44 | −28.3% | −4.5% | +29.3% | +13.8% | −40.4% | 17.9% | +7.8% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.18 | +690% | 1.41 | +0.7% | +17.4% | +0.4% | — | — | 19.2% | +10.1% |
Common questions
What was SNY's worst drawdown?
SNY's deepest decline since it began trading in 2002 was 46.7%, from July 2006 to March 2009. It took 28 months from the low to climb back to its old high.
What were SNY's best and worst years?
Over 23 full calendar years, SNY's best year was 2012, when it returned 36.0%. Its worst was 2008, with a return of -26.5%.
Is there a better investment than SNY?
Among SNY's popular alternatives, JNJ, NVS and ABBV earned more than SNY with less volatility over the past 5 years. JNJ returned 12.7% a year at 17.9% volatility, against 0.6% a year at 25.3%. Looking beyond its popular alternatives, COR (health care distribution) and RPRX (pharmaceuticals) earned more than SNY with less volatility over the past 5 years. COR returned 24.2% a year at 22.8% volatility, against 0.6% a year at 25.3%.
Is SNY more volatile than the S&P 500?
Yes. SNY's volatility over the past 5 years was 25.3%, 1.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, SNY's return lands within 25.3% 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 SNY's Sharpe ratio?
SNY's Sharpe ratio over the past 5 years was 0.15, against 0.79 for the S&P 500, so SNY 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 SNY with the S&P 500?
Over the past 5 years, SNY's monthly returns had a correlation of 0.25 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against SNY instead: the lower it is, the more that option would diversify a SNY holding.
What are the best alternatives to SNY?
Of the 21 popular alternatives we compared, 17 outperformed SNY in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: LLY, ABBV and TMO.
Did SNY outperform the S&P 500?
SNY finished ahead of the S&P 500 (SPY) in seven of 23 full calendar years. In 2025, it returned +4.9%, against +17.7% for the index.
How did SNY do in stock market crashes?
SNY fell less than the S&P 500 (SPY) in four of the nine major crashes it has traded through, and further in five. The clearest case was the 2015 China and oil sell-off, when SNY fell 30.2% and the S&P 500 fell 12.8%.
What diversifies SNY?
These had a low correlation with SNY over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.43), DXJ (correlation 0.12) and EMLP (correlation 0.26); among large stocks, CAH (correlation 0.04), CLS (correlation 0.02) and FIX (correlation -0.06). 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 SNY's. Returns within 0.5 points or 3% of SNY'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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