# How Sanofi (SNY) compares with the whole market and its popular alternatives

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

## Key findings

- **Right now:** Over 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.
- **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 years:** SNY 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%.
- **Long term:** SNY 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.
- **In a crash:** Across six sell-offs, SNY has typically fallen 1.2 times as far as the S&P 500.
- **Diversification:** Against 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.
- **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.

- $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.

## 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.

- 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.

- Type: Stock, Healthcare (Drug Manufacturers - General)
- Trading since: July 1, 2002
- Market value: $99B
- Volatility (5 years): 25.3%; Sharpe ratio: 0.15
- Worst decline ever: −46.7%, from July 26, 2006 to March 6, 2009; back at its high by July 1, 2011

| Period | SNY total return |
| --- | --- |
| 1 month | −2.6% |
| 3 months | −5.9% |
| 6 months | −10.3% |
| year to date | −10.7% |
| 1 year | −13.4% |
| 3 years | −10.0% |
| 5 years | +3.0% |
| 10 years | +61.5% |

## 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.

- 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.

| Measure | SNY | Rank |
| --- | --- | --- |
| 1-year return | −13.4% | 2,456 of 3,287 (top 75%) |
| 3-year return | −10.0% | 2,467 of 3,017 (top 82%) |
| 5-year return | +3.0% | 1,695 of 2,893 (top 59%) |
| 10-year return | +61.5% | 1,521 of 2,202 (top 70%) |
| Volatility, 5 years | 25.3% | 355 of 2,893 (top 13%) |
| Sharpe ratio, 5 years | 0.15 | 1,980 of 2,893 (top 69%) |
| Worst decline, past 10 years | −33.5% | 50 of 2,187 (top 3%) |

### 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).

- 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%.

### Is there a better investment than SNY?

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.

- 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.

The 15 strongest of 898 investments that beat SNY 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 SNY | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| SNY: Sanofi (this page) |  | +0.6% | 25.3% | 0.15 | −33.5% | +61.5% |  |  |
| [SGOV](https://easycompare.io/research/sgov): iShares 0-3 Month Treasury Bond ETF | Treasury Bonds | +3.8% | 0.3% | 13.25 | −0.3% | — | 0.09 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | Gold | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.25 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| JAAA: Janus Henderson AAA CLO ETF | CLO Bonds | +5.1% | 1.7% | 2.98 | −2.6% | — | -0.08 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| CHT: Chunghwa Telecom Co., Ltd. | Integrated Telecommunications | +7.7% | 13.3% | 0.63 | −23.8% | +101% | 0.18 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| HYGH: iShares Interest Rate Hedged High Yield Bond ETF | Bonds | +6.6% | 7.1% | 0.94 | −23.9% | +74.5% | 0.27 | 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% | 0.10 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| VRIG: Invesco Variable Rate Investment Grade ETF | Bonds | +4.7% | 1.3% | 3.51 | −13.1% | +40.5% | -0.11 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| BALT: Innovator Defined Wealth Shield ETF | Crypto | +6.3% | 3.3% | 1.85 | −4.9% | — | 0.21 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| FLRT: Pacer Aristotle Pacific Floating Rate High Income ETF | Financials | +6.0% | 2.3% | 2.55 | −21.0% | +58.0% | 0.06 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| AOM: iShares Core 40/60 Moderate Allocation ETF | Multi-Asset | +4.4% | 8.3% | 0.56 | −20.0% | +77.8% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [PG](https://easycompare.io/research/pg): The Procter & Gamble Company | Household & Personal Products | +5.1% | 18.3% | 0.37 | −23.8% | +145% | 0.25 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| FLOT: iShares Floating Rate Bond ETF | Floating Rate Bonds | +4.5% | 1.8% | 2.48 | −13.5% | +35.9% | -0.12 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VTIP](https://easycompare.io/research/vtip): Vanguard Short-Term Inflation-Protected Securities ETF | Treasury Bonds | +2.7% | 2.9% | 0.94 | −6.3% | +32.7% | 0.53 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [EP-PC](https://easycompare.io/research/ep-pc): El Paso Energy Capital Trust I PFD CV TR SECS | Preferred Stocks | +5.2% | 8.9% | 0.61 | −25.4% | +37.8% | 0.00 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [DFAC](https://easycompare.io/research/dfac): Dimensional - US Core Equity 2 ETF | US Total Market | +11.4% | 17.0% | 0.72 | −23.1% | — | 0.27 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## 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.

- 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%).

### 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.

- 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.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of SNY | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| SNY: Sanofi (this page) | −13.4% | −10.0% | +3.0% | +61.5% |  |  | 0.15 |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | +59.7% | +124% | +451% | +1,807% | 5/5 short-term, 3/3 long-term | all-weather | 1.21 |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | +28.3% | +118% | +218% | +603% | 5/5 short-term, 3/3 long-term | all-weather | 1.11 |
| [TMO](https://easycompare.io/research/tmo): Thermo Fisher Scientific Inc. | +26.8% | +49.5% | +15.1% | +366% | 5/5 short-term, 3/3 long-term | all-weather | 0.24 |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | +48.7% | +72.2% | +145% | +266% | 5/5 short-term, 3/3 long-term | all-weather | 0.85 |
| [IQV](https://easycompare.io/research/iqv): IQVIA Holdings Inc. | +26.3% | +45.3% | +6.5% | +260% | 5/5 short-term, 3/3 long-term | all-weather | 0.21 |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | +76.8% | +58.3% | +113% | +241% | 5/5 short-term, 3/3 long-term | all-weather | 0.74 |
| [NVS](https://easycompare.io/research/nvs): Novartis AG | +18.8% | +75.9% | +121% | +226% | 5/5 short-term, 3/3 long-term | all-weather | 0.87 |
| [GILD](https://easycompare.io/research/gild): Gilead Sciences, Inc. | +30.3% | +121% | +180% | +200% | 5/5 short-term, 3/3 long-term | all-weather | 0.95 |
| [REGN](https://easycompare.io/research/regn): Regeneron Pharmaceuticals, Inc. | +40.7% | +0.8% | +44.9% | +120% | 5/5 short-term, 3/3 long-term | all-weather | 0.40 |
| [BMY](https://easycompare.io/research/bmy): Bristol-Myers Squibb Company | +47.8% | +25.8% | +30.6% | +74.8% | 5/5 short-term, 3/3 long-term | all-weather | 0.34 |
| [AZN](https://easycompare.io/research/azn): AstraZeneca PLC | +1.8% | +38.8% | +52.1% | +257% | 4/5 short-term, 3/3 long-term | all-weather | 0.41 |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | +36.9% | +84.6% | +82.1% | +196% | 4/5 short-term, 3/3 long-term | all-weather | 0.76 |
| [GSK](https://easycompare.io/research/gsk): GSK plc | +18.9% | +60.0% | +57.2% | +95.1% | 4/5 short-term, 3/3 long-term | all-weather | 0.49 |
| [TAK](https://easycompare.io/research/tak): Takeda Pharmaceutical Company Limited | +48.2% | +56.1% | +75.1% | +30.4% | 5/5 short-term, 2/3 long-term | consistent | 0.68 |
| [TEVA](https://easycompare.io/research/teva): Teva Pharmaceutical Industries Limited | +110% | +403% | +303% | −3.6% | 5/5 short-term, 2/3 long-term | consistent | 0.86 |
| VTRS: Viatris Inc. | +87.1% | +127% | +64.3% | −38.0% | 5/5 short-term, 2/3 long-term | consistent | 0.47 |
| [CVS](https://easycompare.io/research/cvs): CVS Health Corp. | +18.5% | +52.5% | +29.2% | +47.0% | 4/5 short-term, 2/3 long-term | consistent | 0.32 |
| [PFE](https://easycompare.io/research/pfe): Pfizer Inc. | +30.5% | +19.2% | −8.3% | +55.0% | 5/5 short-term, 1/3 long-term |  | 0.06 |
| BIIB: Biogen Inc. | +65.8% | −5.6% | −8.8% | −18.9% | 5/5 short-term, 1/3 long-term |  | 0.11 |
| [NVO](https://easycompare.io/research/nvo): Novo Nordisk A/S | −28.5% | −57.0% | −18.5% | +134% | 2/5 short-term, 1/3 long-term |  | 0.09 |
| BNTX: BioNTech SE | −15.5% | +0.3% | −65.7% | — | 2/5 short-term, 1/3 long-term |  | -0.15 |

### 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.

- 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.

| Year | SNY | SPY |
| --- | --- | --- |
| 2025 | +4.9% | +17.7% |
| 2024 | +1.1% | +24.9% |
| 2023 | +6.5% | +26.2% |
| 2022 | +0.5% | −18.2% |
| 2021 | +7.0% | +28.7% |
| 2020 | +0.4% | +18.3% |
| 2019 | +20.5% | +31.2% |
| 2018 | +6.0% | −4.6% |
| 2017 | +9.9% | +21.7% |
| 2016 | −1.2% | +12.0% |

## 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.

- 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.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −46.7% | July 26, 2006 | March 6, 2009 | July 1, 2011 | −42.8% | 2008 financial crisis |
| −33.5% | May 24, 2022 | September 27, 2022 | April 13, 2023 | −7.0% | 2022 bear market |
| −30.8% | September 22, 2014 | February 11, 2016 | October 30, 2019 | −5.8% | 2015 China and oil sell-off |
| −29.0% | August 9, 2002 | February 13, 2003 | May 30, 2003 | −8.9% | dot-com bust |
| −28.5% | March 6, 2025 | October 13, 2026 | not yet | +38.5% |  |

### 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.

- 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%.

| Crash | Dates | SNY fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −46.6% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.8% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −20.7% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −30.2% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −9.8% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −9.0% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −25.2% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −33.5% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −0.5% | −3.4% |

### 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.

- 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.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| SNY: Sanofi (this page) | 53.0% | 74.0% | 0.46 |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | 101% | 6.0% | 0.37 |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | 92.0% | 57.0% | 0.54 |
| [TMO](https://easycompare.io/research/tmo): Thermo Fisher Scientific Inc. | 104% | 104% | 0.81 |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | 74.0% | 64.0% | 0.54 |
| [IQV](https://easycompare.io/research/iqv): IQVIA Holdings Inc. | 128% | 167% | 1.31 |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | 64.0% | 46.0% | 0.30 |
| [NVS](https://easycompare.io/research/nvs): Novartis AG | 69.0% | 64.0% | 0.49 |
| [GILD](https://easycompare.io/research/gild): Gilead Sciences, Inc. | 52.0% | 36.0% | 0.35 |
| [REGN](https://easycompare.io/research/regn): Regeneron Pharmaceuticals, Inc. | 55.0% | 66.0% | 0.19 |
| [BMY](https://easycompare.io/research/bmy): Bristol-Myers Squibb Company | 55.0% | 75.0% | 0.41 |
| [AZN](https://easycompare.io/research/azn): AstraZeneca PLC | 60.0% | 39.0% | 0.39 |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | 64.0% | 53.0% | 0.46 |
| [GSK](https://easycompare.io/research/gsk): GSK plc | 51.0% | 61.0% | 0.52 |
| [TAK](https://easycompare.io/research/tak): Takeda Pharmaceutical Company Limited | 34.0% | 58.0% | 0.44 |
| [TEVA](https://easycompare.io/research/teva): Teva Pharmaceutical Industries Limited | 55.0% | 116% | 1.11 |
| VTRS: Viatris Inc. | 74.0% | 179% | 1.14 |
| [CVS](https://easycompare.io/research/cvs): CVS Health Corp. | 59.0% | 99.0% | 0.70 |
| [PFE](https://easycompare.io/research/pfe): Pfizer Inc. | 52.0% | 81.0% | 0.54 |
| BIIB: Biogen Inc. | 35.0% | 91.0% | 0.28 |
| [NVO](https://easycompare.io/research/nvo): Novo Nordisk A/S | 75.0% | 94.0% | 0.60 |

### 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).

- 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.

| Investment | Correlation with SNY | 5Y return | Volatility | Sharpe | Rose in SNY's 5 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.43 | +119% | 11.1% | 1.48 | 0 of 5 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.12 | +225% | 19.1% | 1.34 | 3 of 5 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.26 | +101% | 14.5% | 1.04 | 2 of 5 |
| HDV: iShares Core High Dividend ETF | 0.49 | +83.3% | 13.0% | 1.00 | 2 of 5 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.06 | +323% | 36.9% | 0.97 | 3 of 5 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.39 | +85.0% | 13.8% | 0.96 | 3 of 5 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.25 | +126% | 18.9% | 0.96 | 3 of 5 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.12 | +136% | 20.8% | 0.93 | 1 of 5 |

## 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.

## More research

- [Eli Lilly and Company (LLY) Performance, Alternatives and Market Rank](https://easycompare.io/research/lly)
- [AbbVie (ABBV) Performance, Alternatives and Market Rank](https://easycompare.io/research/abbv)
- [Thermo Fisher Scientific (TMO) Performance, Alternatives and Market Rank](https://easycompare.io/research/tmo)
- [Amgen (AMGN) Performance, Alternatives and Market Rank](https://easycompare.io/research/amgn)
- [IQVIA (IQV) Performance, Alternatives and Market Rank](https://easycompare.io/research/iqv)
- [Merck & Co., Inc. (MRK) Performance, Alternatives and Market Rank](https://easycompare.io/research/mrk)
- [Novartis (NVS) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvs)
- [Gilead Sciences (GILD) Performance, Alternatives and Market Rank](https://easycompare.io/research/gild)
- [Regeneron Pharmaceuticals (REGN) Performance, Alternatives and Market Rank](https://easycompare.io/research/regn)
- [Bristol-Myers Squibb (BMY) Performance, Alternatives and Market Rank](https://easycompare.io/research/bmy)
- [AstraZeneca (AZN) Performance, Alternatives and Market Rank](https://easycompare.io/research/azn)
- [Johnson & Johnson (JNJ) Performance, Alternatives and Market Rank](https://easycompare.io/research/jnj)

## Explore further

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