# How Veeva Systems (VEEV) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/veev
> 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 VEEV alone. It places VEEV (Veeva Systems Inc.) against 19 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 VEEV stands in the market, and of the alternatives worth a closer look.

Period covered: VEEV's full trading record, from October 2013 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, VEEV rose 88.7% against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100.
- **Stock or market?:** More than an industry move: VEEV rose 61.4% over the past 3 months, against 15.0% for the application software ETF IGV (iShares Expanded Tech-Software Sector ETF). The S&P 500 rose 3.9%. VEEV rose 22.0% last month as the S&P 500 fell 0.6% and the Nasdaq 100 fell 3.2%.
- **Past 1 to 3 years:** A ahead of 92% of stocks worth at least $300 million over 10 years, but ahead of 53% of the stocks worth at least $300 million over 3 years. That said, VEEV lagged its application software peers in 2023, then moved up the pack in 2025.
- **Long term:** VEEV turned $10,000 into $81,500 over the past decade, against $42,100 in the S&P 500. That said, over 5 years VEEV trailed the index: 0.4% against 81.7%.
- **In a crash:** VEEV fell harder than the S&P 500 in three of four sell-offs. The Covid crash was the exception: VEEV fell 26.7%, less than the S&P 500's 33.7%.
- **Diversification:** Over 10 years VEEV kept more of the market's gains than of its losses: in the S&P 500's rising months it gained 1.1 times as much as the index, and in falling months it lost 89% as much, with a beta of 0.87. On the flip side, when the S&P 500 had a down month, VEEV usually fell with it (17 of 22 months).
- **Better options**
  - **Popular alternatives:** LLY (Eli Lilly and Company), MRK (Merck & Co., Inc.) and SAP earned more than VEEV with less volatility over the past 5 years. LLY returned 40.7% a year at 32.8% volatility, against a loss of 0.1% a year at 39.6%.
  - **Nearby categories and themes:** MSFT (Microsoft, software) and V (Visa, payment processing) earned more than VEEV with less volatility over the past 5 years. MSFT returned 12.5% a year at 28.2% volatility, against a loss of 0.1% a year at 39.6%.
  - **Whole market:** 1,735 of the 3,633 stocks and funds worth at least $500 million earned more than VEEV with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and MSFT (Microsoft).

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

This chart tracks a hypothetical $10,000 investment in VEEV over the past 12 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of VEEV over the same span and VEEV's popular alternatives, among those that traded for the entire period.

- $10,000 invested in VEEV at the end of September 2014 would have grown to $101,328 by September 2026, more than the $47,240 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of VEEV, and PANW finished highest, at $243,002.

## VEEV 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.

- VEEV's deepest decline since it began trading in 2013 was 61.4%, from October 2013 to May 2014. It took about two years from the low to climb back to its old high.
- Over 12 full calendar years, VEEV's best was 2020, when it returned 93.5%, and its worst was 2022, when it lost 36.8%. It lost money in three of those years.
- VEEV is 6.6% below its all-time high.

- Type: Stock, Technology (Software - Application)
- Trading since: October 16, 2013
- Market value: $52B
- Volatility (5 years): 39.6%; Sharpe ratio: 0.19
- Worst decline ever: −61.4%, from October 21, 2013 to May 7, 2014; back at its high by November 23, 2016

| Period | VEEV total return |
| --- | --- |
| 1 month | +22.0% |
| 3 months | +61.4% |
| 6 months | +88.7% |
| year to date | +45.2% |
| 1 year | +11.5% |
| 3 years | +59.0% |
| 5 years | −0.4% |
| 10 years | +715% |

## VEEV against the whole market

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

### How does VEEV rank among all stocks?

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

- VEEV's 10-year return ranks in the top 8% of the 2,202 stocks worth at least $300 million with 10 years of history.

| Measure | VEEV | Rank |
| --- | --- | --- |
| 1-year return | +11.5% | 1,529 of 3,287 (top 47%) |
| 3-year return | +59.0% | 1,414 of 3,017 (top 47%) |
| 5-year return | −0.4% | 1,738 of 2,893 (top 61%) |
| 10-year return | +715% | 185 of 2,202 (top 9%) |
| Volatility, 5 years | 39.6% | 1,438 of 2,893 (top 50%) |
| Sharpe ratio, 5 years | 0.19 | 1,857 of 2,893 (top 65%) |
| Worst decline, past 10 years | −55.7% | 701 of 2,187 (top 33%) |

### What has beaten VEEV 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).

- 901 stocks and 834 ETFs worth at least $500 million sit in the green region: each earned more than VEEV over the past 5 years with smaller price swings. That is 48% of the 3,633 screened.
- Among those with at least half VEEV's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 37% less than VEEV's 39.6%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.19 for VEEV. PBR-A earned the most, 51.8% a year, while still swinging less than VEEV (37.5% against 39.6%).
- Among VEEV's popular alternatives, LLY, MRK and SAP are in the region. LLY earned 40.7% a year against a loss of 0.1% a year for VEEV, at 32.8% volatility, 17% less than VEEV's 39.6%.

### Is there a better investment than VEEV?

The table below lists investments that beat VEEV 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 VEEV's popular alternatives, LLY, MRK and SAP earned more than VEEV with less volatility over the past 5 years. LLY returned 40.7% a year at 32.8% volatility, against a loss of 0.1% a year at 39.6%.
- Looking beyond its popular alternatives, MSFT (software) and V (payment processing) earned more than VEEV with less volatility over the past 5 years. MSFT returned 12.5% a year at 28.2% volatility, against a loss of 0.1% a year at 39.6%.
- Across the whole market, 1,735 of the 3,633 stocks and funds worth at least $500 million earned more than VEEV with less volatility over the past 5 years, among them AAPL, GOOG and MSFT.

The 15 strongest of 1,735 investments that beat VEEV 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 VEEV | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| VEEV: Veeva Systems Inc. (this page) |  | −0.1% | 39.6% | 0.19 | −55.7% | +715% |  |  |
| [MPC](https://easycompare.io/research/mpc): Marathon Petroleum Corporation | Oil & Gas | +51.2% | 33.4% | 1.41 | −79.7% | +1,387% | 0.33 | Higher return, lower volatility; Higher return in most periods |
| [SGOV](https://easycompare.io/research/sgov): iShares 0-3 Month Treasury Bond ETF | Treasury Bonds | +3.8% | 0.3% | 13.25 | −0.3% | — | 0.14 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [PGR](https://easycompare.io/research/pgr): The Progressive Corporation | Property & Casualty Insurance | +21.3% | 25.6% | 0.89 | −30.3% | +816% | 0.07 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.08 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| JAAA: Janus Henderson AAA CLO ETF | CLO Bonds | +5.1% | 1.7% | 2.98 | −2.6% | — | 0.19 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.13 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [AAPL](https://easycompare.io/research/aapl): Apple Inc. | Computer Hardware | +18.5% | 28.0% | 0.75 | −38.5% | +1,168% | 0.17 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [GOOG](https://easycompare.io/research/goog): Alphabet Inc. | Internet Services | +19.0% | 32.0% | 0.71 | −44.6% | +752% | 0.05 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | Pharmaceuticals | +40.7% | 32.8% | 1.21 | −34.5% | +1,807% | -0.01 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [VTI](https://easycompare.io/research/vti): Vanguard Morningstar Total Stock Market ETF | US Total Market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [VOO](https://easycompare.io/research/voo): Vanguard S&P 500 ETF | US Large-Cap Equity | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.38 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [VLO](https://easycompare.io/research/vlo): Valero Energy Corporation | Oil & Gas | +44.2% | 36.9% | 1.18 | −71.9% | +1,061% | 0.21 | Higher return, lower volatility; Higher return in most periods |
| [WMT](https://easycompare.io/research/wmt): Walmart Inc. | Discount Retail | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.08 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.15 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [JPM](https://easycompare.io/research/jpm): JPMorgan Chase & Co. | Banks | +17.3% | 24.3% | 0.78 | −43.6% | +537% | 0.28 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |

## VEEV against its popular alternatives

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

### How do VEEV'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.

- Six of the 17 popular alternatives, led by LLY, MRK and SAP, were both more rewarding and calmer than VEEV over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, VEEV returned -0.1% a year, less than the S&P 500's 12.7%, with higher volatility (39.6% against 17.1%).

### Has VEEV consistently beaten its popular alternatives?

This section compares VEEV with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- None of the 19 popular alternatives outperformed VEEV in at least 3 of 5 short-term and 2 of 3 long-term timeframes. The closest was MEDP.
- LLY, MRK and MEDP earned more for the risk they took than VEEV (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
- LLY outperformed VEEV over all three long-term periods but in only one of the five short-term ones, so VEEV has had the better of it lately.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of VEEV | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| VEEV: Veeva Systems Inc. (this page) | +11.5% | +59.0% | −0.4% | +715% |  |  | 0.19 |
| MEDP: Medpace Holdings, Inc. | +14.3% | +172% | +231% | +1,914% | 1/5 short-term, 3/3 long-term |  | 0.70 |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | +59.7% | +124% | +451% | +1,807% | 1/5 short-term, 3/3 long-term |  | 1.21 |
| [NOW](https://easycompare.io/research/now): ServiceNow, Inc. | −18.5% | +37.8% | +9.8% | +848% | 0/5 short-term, 2/3 long-term |  | 0.27 |
| [SAP](https://easycompare.io/research/sap): SAP SE | −16.6% | +81.3% | +72.6% | +205% | 0/5 short-term, 2/3 long-term |  | 0.52 |
| CRL: Charles River Laboratories International, Inc. | +71.3% | +70.1% | −25.1% | +280% | 2/5 short-term, 1/3 long-term |  | 0.09 |
| HSTM: HealthStream, Inc. | +25.8% | +54.1% | +21.2% | +32.0% | 2/5 short-term, 1/3 long-term |  | 0.28 |
| [TMO](https://easycompare.io/research/tmo): Thermo Fisher Scientific Inc. | +26.8% | +49.5% | +15.1% | +366% | 1/5 short-term, 1/3 long-term |  | 0.24 |
| [IQV](https://easycompare.io/research/iqv): IQVIA Holdings Inc. | +26.3% | +45.3% | +6.5% | +260% | 1/5 short-term, 1/3 long-term |  | 0.21 |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | +76.8% | +58.3% | +113% | +241% | 1/5 short-term, 1/3 long-term |  | 0.74 |
| [ORCL](https://easycompare.io/research/orcl): Oracle Corporation | −52.1% | +33.3% | +45.1% | +300% | 0/5 short-term, 1/3 long-term |  | 0.38 |
| EVH: Evolent Health, Inc. | −37.2% | −81.9% | −83.5% | −79.5% | 1/5 short-term, 0/3 long-term |  | -0.24 |
| DOCS: Doximity, Inc. | −51.0% | +51.0% | −54.1% | — | 1/5 short-term, 0/3 long-term |  | 0.08 |
| [CRM](https://easycompare.io/research/crm): Salesforce, Inc. | −3.9% | +21.3% | −14.8% | +240% | 0/5 short-term, 0/3 long-term |  | 0.12 |
| [DHR](https://easycompare.io/research/dhr): Danaher Corporation | +8.3% | +10.8% | −17.6% | +232% | 0/5 short-term, 0/3 long-term |  | 0.01 |
| [WDAY](https://easycompare.io/research/wday): Workday, Inc. | −15.4% | −3.4% | −26.4% | +132% | 0/5 short-term, 0/3 long-term |  | 0.06 |
| CERT: Certara, Inc. | −20.5% | −27.6% | −74.4% | — | 0/5 short-term, 0/3 long-term |  | -0.21 |
| PHR: Phreesia, Inc. | −47.5% | −20.2% | −81.8% | — | 0/5 short-term, 0/3 long-term |  | -0.26 |
| TEM: Tempus AI, Inc. | −27.8% | — | — | — | 0/5 short-term, 0/3 long-term |  | — |
| WAY: Waystar Holding Corp. | −22.1% | — | — | — | 0/5 short-term, 0/3 long-term |  | — |

### How did VEEV do year by year?

This table shows each investment's total return in every full calendar year since 2014, along with where VEEV ranked among its popular alternatives each year.

- VEEV finished ahead of the S&P 500 in six of its 12 full calendar years, and behind it in each of the last five.
- Among its popular alternatives, LLY came out ahead of VEEV most often, in seven of the 12 years both traded.
- Ranked against its popular alternatives each year, VEEV finished in the top quarter in four of 12 years and in the bottom quarter in two. In 2025, it ranked 9 of 20.

| Year | VEEV | SPY |
| --- | --- | --- |
| 2025 | +6.2% | +17.7% |
| 2024 | +9.2% | +24.9% |
| 2023 | +19.3% | +26.2% |
| 2022 | −36.8% | −18.2% |
| 2021 | −6.2% | +28.7% |
| 2020 | +93.5% | +18.3% |
| 2019 | +57.5% | +31.2% |
| 2018 | +61.6% | −4.6% |
| 2017 | +35.8% | +21.7% |
| 2016 | +41.1% | +12.0% |

## Risk and diversification

How VEEV 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 VEEV's worst declines?

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

- In all five of VEEV's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: VEEV fell 61.4% from October 2013 to May 2014, while the S&P 500 rose 8.8%.
- The slowest recovery came after VEEV fell 61.4% from October 2013 to May 2014; it did not regain that peak until November 2016, two years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −61.4% | October 21, 2013 | May 7, 2014 | November 23, 2016 | +8.8% |  |
| −55.7% | August 5, 2021 | October 14, 2022 | not yet | −17.6% | 2022 bear market |
| −31.1% | July 11, 2019 | March 16, 2020 | April 17, 2020 | −19.1% | Covid crash |
| −26.5% | September 28, 2018 | December 24, 2018 | January 25, 2019 | −18.9% | late-2018 sell-off |
| −24.2% | February 16, 2021 | March 8, 2021 | June 28, 2021 | −2.7% |  |

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

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

- VEEV fell further than the S&P 500 in five of the six crashes it has traded through. The clearest case was the 2015 China and oil sell-off, when VEEV fell 28.9% and the S&P 500 fell 12.8%.
- Among its popular alternatives, LLY held up best, falling less than VEEV in all six crashes they both traded through.
- VEEV began trading after the 2008 financial crisis, but nine of its popular alternatives lived through it. The mildest fall among them was ORCL's 41.1%, against 55.2% for the S&P 500.

| Crash | Dates | VEEV fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | not trading | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | not trading | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | not trading | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −28.9% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −9.5% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −26.5% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −26.7% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −40.0% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −4.6% | −3.4% |

### How closely does VEEV 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, VEEV captured 113% of the S&P 500's gains in rising months and 89% of its losses in falling months, with a beta of 0.87. Its share of the market's gains was larger than its share of the losses.
- LLY took just 6% of the S&P 500's losses, against 89% for VEEV, while still keeping 101% of its gains.
- Four of the 14 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than VEEV's 1.26, led by LLY, NOW and MEDP.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| VEEV: Veeva Systems Inc. (this page) | 113% | 89.0% | 0.87 |
| MEDP: Medpace Holdings, Inc. | 168% | 118% | 1.24 |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | 101% | 6.0% | 0.37 |
| [NOW](https://easycompare.io/research/now): ServiceNow, Inc. | 114% | 79.0% | 0.97 |
| [SAP](https://easycompare.io/research/sap): SAP SE | 112% | 152% | 1.10 |
| CRL: Charles River Laboratories International, Inc. | 135% | 175% | 1.30 |
| HSTM: HealthStream, Inc. | 33.0% | 57.0% | 0.40 |
| [TMO](https://easycompare.io/research/tmo): Thermo Fisher Scientific Inc. | 104% | 104% | 0.81 |
| [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 |
| [ORCL](https://easycompare.io/research/orcl): Oracle Corporation | 131% | 159% | 1.30 |
| EVH: Evolent Health, Inc. | 23.0% | 176% | 1.60 |
| [CRM](https://easycompare.io/research/crm): Salesforce, Inc. | 115% | 143% | 1.16 |
| [DHR](https://easycompare.io/research/dhr): Danaher Corporation | 84.0% | 84.0% | 0.75 |
| [WDAY](https://easycompare.io/research/wday): Workday, Inc. | 96.0% | 139% | 1.19 |

### What diversifies VEEV?

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 VEEV into LVHI would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (-0.2% for VEEV alone, +4.1% for the mix).
- MCK made money in three of the three calendar years in which VEEV lost money.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of VEEV over the past 5 years, with correlations of 0.21 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with VEEV | 5Y return | Volatility | Sharpe | Rose in VEEV's 3 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.11 | +119% | 11.1% | 1.48 | 2 of 3 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.21 | +225% | 19.1% | 1.34 | 3 of 3 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.15 | +101% | 14.5% | 1.04 | 3 of 3 |
| HDV: iShares Core High Dividend ETF | 0.20 | +83.3% | 13.0% | 1.00 | 3 of 3 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.18 | +323% | 36.9% | 0.97 | 2 of 3 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.30 | +85.0% | 13.8% | 0.96 | 2 of 3 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.13 | +126% | 18.9% | 0.96 | 0 of 3 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.29 | +136% | 20.8% | 0.93 | 1 of 3 |

## Common questions

### What was VEEV's worst drawdown?

VEEV's deepest decline since it began trading in 2013 was 61.4%, from October 2013 to May 2014. It took about two years from the low to climb back to its old high. Because VEEV launched in October 2013, that record does not include the dot-com bust, the 2008 financial crisis or two other sell-offs.

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

Over 12 full calendar years, VEEV's best year was 2020, when it returned 93.5%. Its worst was 2022, with a return of -36.8%.

### Is there a better investment than VEEV?

Among VEEV's popular alternatives, LLY, MRK and SAP earned more than VEEV with less volatility over the past 5 years. LLY returned 40.7% a year at 32.8% volatility, against a loss of 0.1% a year at 39.6%. Looking beyond its popular alternatives, MSFT (software) and V (payment processing) earned more than VEEV with less volatility over the past 5 years. MSFT returned 12.5% a year at 28.2% volatility, against a loss of 0.1% a year at 39.6%.

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

Yes. VEEV's volatility over the past 5 years was 39.6%, 2.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, VEEV's return lands within 39.6% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is VEEV's Sharpe ratio?

VEEV's Sharpe ratio over the past 5 years was 0.19, against 0.79 for the S&P 500, so VEEV 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 VEEV with the S&P 500?

Over the past 5 years, VEEV's monthly returns had a correlation of 0.38 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 VEEV instead: the lower it is, the more that option would diversify a VEEV holding.

### What are the best alternatives to VEEV?

None of the 19 popular alternatives we compared outperformed VEEV in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about VEEV's strength than about its alternatives.

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

VEEV finished ahead of the S&P 500 (SPY) in six of 12 full calendar years. In 2025, it returned +6.2%, against +17.7% for the index.

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

VEEV fell less than the S&P 500 (SPY) in one of the six major crashes it has traded through, and further in five. The clearest case was the 2015 China and oil sell-off, when VEEV fell 28.9% and the S&P 500 fell 12.8%.

### What diversifies VEEV?

These had a low correlation with VEEV over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.11), DXJ (correlation 0.21) and EMLP (correlation 0.15); among large stocks, CAH (correlation 0.13), CLS (correlation 0.09) and FIX (correlation 0.10). A correlation near zero means the two have moved largely independently.

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## Explore further

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