Relative Intelligence · Integrated Telecommunications
How Verizon Communications (VZ) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on VZ alone. It places VZ (Verizon Communications Inc.) against 18 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 VZ stands in the market, and of the alternatives worth a closer look.
Period covered: VZ's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.
Data as of October 20, 2026. Full tables and charts read best on a larger screen.
On this page12 sections
Key findings
- Right nowVZ has gone against the market, falling 1.0% over the past 6 months while the S&P 500 rose 9.1%. Its integrated telecommunication peers split over the past 6 months: IDT rose 61.9%, while CMCSA (Comcast) fell 22.6%. Consistency ↓
- Stock or market?VZ rose 4.0% over the past 3 months, 5.4 points ahead of the integrated telecommunications ETF IYZ (iShares U.S. Telecommunications ETF), which fell 1.4%. The S&P 500 rose 3.9%. Its integrated telecommunication peers did not move as one over the past 3 months: IDT rose 34.1%, while TMUS (T-Mobile US) fell 18.9%.
- Past 1 to 3 yearsThe last two calendar years both went the same way: VZ rose 8.9% in 2025, against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. It took about 2 years for VZ to win back the 41.2% it lost from December 2020 to October 2023. the S&P 500 fell 23.1% over those same dates. By year ↓
- Long termVZ turned $10,000 into $15,600 over the past decade, against $42,100 in the S&P 500. Growth of $10,000 ↓
- In a crashVZ fell less than the S&P 500 in five of seven sell-offs, but the 2022 bear market broke the pattern: it fell 33.2%, more than the S&P 500's 24.5%. Crash tests ↓
- DiversificationAgainst the S&P 500, VZ has a correlation of 0.19 over 5 years, less closely than 88% of stocks worth at least $300 million. Next to an index fund it is a real diversifier. On the flip side, over 10 years VZ took more of the market's losses than of its gains: 44% of the S&P 500's gains in rising months and 60% of its losses in falling ones, with a beta of 0.36. Market capture ↓
- Better options
- Popular alternatives
- CSCO (Cisco Systems), VOD (Vodafone Group Public) and IDT were ahead of VZ in most short and long periods.
- Nearby categories and themes
- CHT (Chunghwa Telecom, integrated telecommunications) earned more than VZ with less volatility over the past 5 years: 7.7% a year at 13.3% volatility, against 2.7% a year at 22.9%.
- Whole market
- 665 of the 3,633 stocks and funds worth at least $500 million earned more than VZ 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 VZ have grown?
This chart tracks a hypothetical $10,000 investment in VZ over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of VZ over the same span and VZ'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 VZ at the end of September 1997 would have grown to $47,395 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of VZ, and CSCO finished highest, at $206,586.
Choose a period
From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 760 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of VZ; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- CSCO$206,586+1,966% total · +11.0% a year
- SPY (S&P 500)$132,907+1,229% total · +9.3% a year
- CMCSA$75,723+657% total · +7.2% a year
- T$65,217+552% total · +6.7% a year
- TU$60,795+508% total · +6.4% a year
- VOD$50,622+406% total · +5.8% a year
- VZ$47,395+374% total · +5.5% a year
- TDS$34,896+249% total · +4.4% a year
- LUMN$10,090+0.9% total · 0.0% a year
- ERIC$5,900−41.0% total · −1.8% 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. 2,218 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of VZ; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- TDS$26,192+162% total · +21.2% a year
- CSCO$22,737+127% total · +17.9% a year
- MSI$20,359+104% total · +15.3% a year
- IDT$19,295+93.0% total · +14.0% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- T$16,172+61.7% total · +10.1% a year
- VOD$14,926+49.3% total · +8.3% a year
- CHT$13,963+39.6% total · +6.9% a year
- VZ$11,648+16.5% total · +3.1% a year
- ERIC$9,892−1.1% total · −0.2% a year
VZ 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.
- VZ's deepest decline since it began trading in 1986 was 57.3%, from October 1999 to July 2002. It took about nine years from the low to climb back to its old high.
- Over 29 full calendar years, VZ's best was 1997, when it returned 46.6%, and its worst was 2005, when it lost 22.2%. It lost money in ten of those years.
- VZ is 12.1% below its all-time high.
The company
- Market value
- $185B
- Industry
- Telecommunications Services
- Price history from
- October 1986
Returns
- Past 1 year
- +16.4%total return
- Past 3 years
- +71.5%+19.7% a year
- Past 5 years
- +14.4%+2.7% a year
- Past 10 years
- +55.8%+4.5% a year
- Best calendar year
- +46.6%1997
- Worst calendar year
- −22.2%2005
- Losing years
- 10 of 29full calendar years
Risk
- Volatility
- 22.9%typical yearly swing, 5 years
- Sharpe ratio
- 0.23return per unit of risk, 5 years
- Worst decline ever
- −57.3%Oct 1999 to Jul 2002
- From its all-time high
- −12.1%below the peak
VZ against the whole market
Where VZ ranks among every stock and fund, and what across the market has done better.
How does VZ rank among all stocks?
This section ranks VZ 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 VZ stacks up against its peers, these rankings show where it stands in the market as a whole.
- VZ is among the steadier stocks: its price swings rank in the top 7% of the 2,893 stocks worth at least $300 million, where the top is the calmest.
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 | VZ | Rank | Standing |
|---|---|---|---|
| 1-year return | +16.4% | 1,357 of 3,287 | top 41% |
| 3-year return | +71.5% | 1,228 of 3,017 | top 41% |
| 5-year return | +14.4% | 1,535 of 2,893 | bottom 48% |
| 10-year return | +55.8% | 1,557 of 2,202 | bottom 30% |
| Volatility, 5 years | 22.9% | 200 of 2,893 | top 7% |
| Sharpe ratio, 5 years | 0.23 | 1,758 of 2,893 | bottom 40% |
| Worst decline, past 10 years | −41.2% | 181 of 2,187 | top 8% |
What has beaten VZ 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). VZ sits where the dashed lines cross. Anything in the green box above and to the left earned more than VZ 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.
- 75 stocks and 590 ETFs worth at least $500 million sit in the green region: each earned more than VZ over the past 5 years with smaller price swings. That is 18% of the 3,633 screened.
- Among those with at least half VZ's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 17% less than VZ's 22.9%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.23 for VZ.
- None of VZ's popular alternatives made it, but CHT (integrated telecommunications) did: 7.7% a year at 13.3% volatility, 42% less than VZ's 22.9%.
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 VZ; faint dots are 93 more of the 665 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
- 1 with more than 1.6× VZ's volatility is in the table only
Is there a better investment than VZ?
Investments that beat VZ over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among VZ's popular alternatives, CSCO, VOD and IDT were ahead of VZ in most short and long periods.
- Looking beyond its popular alternatives, CHT (integrated telecommunications) earned more than VZ with less volatility over the past 5 years: 7.7% a year at 13.3% volatility, against 2.7% a year at 22.9%.
- Across the whole market, 665 of the 3,633 stocks and funds worth at least $500 million earned more than VZ 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 VZ 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 VZ'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 VZ 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 VZ'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× VZ's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than VZ'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 VZ?lower diversifies more | Expenseper year | |||
| VZVerizon Communications Inc. · this page | +2.7% | 22.9% | 0.23 | −41.2% | +55.8% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.19 | 0.09% | ||
| Popular alternativesbest 3 shownThe investments people most often weigh against VZ. 3 of 18 passed at least one test. | |||||||||
 CSCOCisco Systems, Inc. · Communications Equipment | Higher return in most periods | +16.8% | 26.1% | 0.73 | −42.0% | +374% | 0.05 | — | |
 VODVodafone Group Public Limited Company · Telecommunications | Higher return in most periods | +7.7% | 28.2% | 0.41 | −62.2% | +9.3% | 0.55 | — | |
IDTIDT Corporation · Telecommunications Services | Higher return in most periods | +12.3% | 38.5% | 0.49 | −77.1% | +429% | 0.16 | — | |
| Same and neighboring categories, and shared themesbest 4 shownEverything else in Integrated Telecommunications and Telecommunications and the categories next to it (Communications Equipment, Telecom Tower REITs, Specialty REITs), plus VZ's specific themes. 4 of 34 passed at least one test. | |||||||||
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% | 0.20 | — | |
 MSIMotorola Solutions, Inc. · Communications Equipment | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +14.8% | 23.6% | 0.71 | −32.8% | +625% | 0.36 | — | |
LAMRLamar Advertising Company · Specialty REITs | Higher return in most periods | +10.7% | 26.5% | 0.52 | −65.8% | +278% | 0.26 | — | |
KTKT Corporation · Integrated Telecommunications | Higher return, similar volatility | +13.1% | 22.6% | 0.66 | −60.3% | +84.9% | 0.41 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,240 of 3,581 passed at least one test. | |||||||||
 BRK-BBerkshire Hathaway Inc. · Insurance | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.31 | — | |
 JNJJohnson & Johnson · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.27 | — | |
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.48 | 0.40% | |
 NVSNovartis AG · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.39 | — | |
 VEAVanguard FTSE Developed Markets ETF · Developed International Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +9.3% | 16.9% | 0.61 | −35.8% | +153% | 0.38 | 0.03% | |
 COSTCostco Wholesale Corporation · Discount Retail | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.16 | — | |
 BILState Street SPDR Bloomberg 1-3 Month T-Bill ETF · Treasury Bonds | On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline | +3.7% | 0.3% | 14.05 | −0.2% | +25.8% | 0.15 | 0.14% | |
TRTootsie Roll Industries, Inc. · Food Confectioners | Smaller losses in recent crashes | +7.8% | 25.2% | 0.42 | −36.4% | +65.5% | 0.26 | — | |
What these numbers mean for VZ
- Annual return
- VZ returned 2.7% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $11,400. 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
- VZ's volatility over the past 5 years was 22.9%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, VZ's return lands within 22.9% 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
- VZ's Sharpe ratio over the past 5 years was 0.23, against 0.79 for the S&P 500, so VZ 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
- VZ's worst fall from a peak to a low over the past 10 years was 41.2%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 41.2% fall takes a 70.1% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, VZ's monthly returns had a correlation of 0.19 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 VZ instead: the lower it is, the more that option would diversify a VZ holding. Guide: Correlation and diversification →
Show all 665 stocks and funds worth at least $500 million that earned more than VZ 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 VZ | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | BRK-BBerkshire Hathaway Inc. · Insurance | Whole market | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.31 | — |
| 2 | CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications | Same or nearby category | +7.7% | 13.3% | 0.63 | −23.8% | +101% | 0.20 | — |
| 3 | JNJJohnson & Johnson · Pharmaceuticals | Whole market | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.27 | — |
| 4 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.48 | 0.40% |
| 5 | NVSNovartis AG · Pharmaceuticals | Whole market | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.39 | — |
| 6 | VEAVanguard FTSE Developed Markets ETF · Developed International Equity | Whole market | +9.3% | 16.9% | 0.61 | −35.8% | +153% | 0.38 | 0.03% |
| 7 |  PGThe Procter & Gamble Company · Household & Personal Products | Whole market | +5.1% | 18.3% | 0.37 | −23.8% | +145% | 0.37 | — |
| 8 |  SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Whole market | +9.7% | 14.3% | 0.72 | −33.4% | +252% | 0.49 | 0.06% |
| 9 |  DFACDimensional - US Core Equity 2 ETF · US Total Market | Whole market | +11.4% | 17.0% | 0.72 | −23.1% | — | 0.22 | 0.21% |
| 10 |  RSGRepublic Services, Inc. · Environmental Services | Whole market | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.23 | — |
| 11 |  ULUnilever PLC · Household & Personal Products | Whole market | +5.5% | 21.5% | 0.36 | −30.1% | +89.8% | 0.31 | — |
| 12 |  DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity | Whole market | +14.7% | 17.5% | 0.87 | −34.7% | — | 0.15 | 0.26% |
| 13 |  DGROiShares Core Dividend Growth ETF · US Dividend Equity | Whole market | +10.9% | 13.7% | 0.83 | −35.1% | +267% | 0.36 | 0.08% |
| 14 |  CLColgate-Palmolive Company · Household & Personal Products | Whole market | +7.2% | 19.2% | 0.46 | −29.0% | +68.8% | 0.48 | — |
| 15 |  XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity | Whole market | +8.4% | 15.3% | 0.60 | −28.4% | +202% | 0.26 | 0.08% |
| 16 | SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity | Whole market | +18.7% | 20.8% | 0.93 | −30.9% | +499% | 0.02 | 0.13% |
| 17 | DFIVDimensional - International Value ETF · International Equity | Whole market | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.47 | 0.27% |
| 18 | AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Whole market | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.27 | 0.15% |
| 19 | USMViShares MSCI USA Min Vol Factor ETF · US Low-Volatility Equity | Whole market | +7.6% | 12.3% | 0.66 | −33.1% | +176% | 0.42 | 0.15% |
| 20 | AVEMAvantis Emerging Markets Equity ETF · Emerging Markets Equity | Whole market | +9.3% | 19.5% | 0.56 | −36.0% | — | 0.23 | 0.33% |
| 21 | MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value | Whole market | +12.6% | 13.4% | 0.95 | −35.4% | +244% | 0.34 | 0.05% |
| 22 | EWJiShares MSCI Japan ETF · International Equity | Whole market | +9.2% | 18.8% | 0.57 | −33.1% | +132% | 0.36 | 0.49% |
| 23 |  RYRoyal Bank of Canada · Banks | Whole market | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.19 | — |
| 24 | RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity | Whole market | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.31 | 0.39% |
| 25 | CHDChurch & Dwight Co., Inc. · Household & Personal Products | Whole market | +6.1% | 21.1% | 0.39 | −31.7% | +154% | 0.47 | — |
| 26 | DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity | Whole market | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.26 | 0.35% |
| 27 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.22 | 0.40% |
| 28 | JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity | Whole market | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.23 | 0.12% |
| 29 | VPLVanguard FTSE Pacific ETF · International Equity | Whole market | +9.5% | 18.6% | 0.58 | −33.9% | +141% | 0.31 | 0.07% |
| 30 |  SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds | Whole market | +3.8% | 0.3% | 13.25 | −0.3% | — | 0.18 | 0.09% |
| 31 | MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity | Whole market | +9.1% | 18.4% | 0.57 | −33.3% | +276% | 0.27 | 0.46% |
| 32 | QYLDGlobal X - Nasdaq 100 Covered Call ETF · Equity Income | Whole market | +8.4% | 15.0% | 0.62 | −24.7% | +156% | 0.01 | 0.60% |
| 33 | DSIiShares ESG MSCI KLD 400 ETF · US ESG Equity | Whole market | +12.0% | 18.1% | 0.72 | −34.1% | +322% | 0.16 | 0.25% |
| 34 | TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity | Whole market | +16.2% | 21.3% | 0.81 | −32.0% | +388% | 0.21 | 0.50% |
| 35 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.37 | — |
| 36 | IWXiShares Russell Top 200 Value ETF · Broad Market | Whole market | +12.7% | 13.8% | 0.94 | −35.8% | +221% | 0.38 | 0.20% |
| 37 | FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives | Whole market | +12.9% | 15.6% | 0.86 | −35.9% | +139% | 0.32 | 0.98% |
| 38 | SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology | Whole market | +15.0% | 19.5% | 0.82 | −30.8% | — | 0.08 | 0.45% |
| 39 | SNPEXtrackers S&P 500 Scored & Screened ETF · Broad Market | Whole market | +13.3% | 17.2% | 0.81 | −33.4% | — | 0.19 | 0.10% |
| 40 | ACWViShares MSCI Global Min Vol Factor ETF · International | Whole market | +6.3% | 10.3% | 0.65 | −28.8% | +116% | 0.48 | 0.20% |
| 41 | FVFirst Trust Dorsey Wright Focus 5 ETF · Broad Market | Whole market | +9.7% | 21.1% | 0.55 | −34.0% | +247% | 0.08 | 0.30% |
| 42 | JAAAJanus Henderson AAA CLO ETF · CLO Bonds | Whole market | +5.1% | 1.7% | 2.98 | −2.6% | — | -0.05 | 0.20% |
| 43 | JMOMJPMorgan U.S. Momentum Factor ETF · Broad Market | Whole market | +12.9% | 19.1% | 0.73 | −34.3% | — | 0.10 | 0.12% |
| 44 | FHLCFidelity MSCI Health Care Index ETF · Healthcare | Whole market | +7.3% | 15.4% | 0.53 | −28.8% | +199% | 0.23 | 0.08% |
| 45 | HFXINYLI FTSE International Equity Currency Neutral ETF · International | Whole market | +11.4% | 15.3% | 0.79 | −32.4% | +180% | 0.31 | 0.19% |
| 46 | AVIVAvantis International Large Cap Value ETF · International | Whole market | +12.6% | 16.7% | 0.80 | −27.7% | — | 0.47 | 0.25% |
| 47 | RODMHartford Multifactor Developed Markets (ex-US) ETF · International | Whole market | +10.6% | 13.5% | 0.82 | −36.0% | +141% | 0.47 | 0.29% |
| 48 | QUSState Street SPDR MSCI USA StrategicFactors ETF · Broad Market | Whole market | +11.1% | 14.2% | 0.81 | −33.8% | +273% | 0.31 | 0.15% |
| 49 | RLYState Street Multi-Asset Real Return ETF · Multi-Asset | Whole market | +9.9% | 13.3% | 0.78 | −34.2% | +128% | 0.48 | 0.50% |
| 50 | FDLOFidelity Low Volatility Factor ETF · Broad Market | Whole market | +9.8% | 13.0% | 0.79 | −34.4% | +249% | 0.36 | 0.15% |
| 51 | BKIEBNY Mellon International Equity ETF · International | Whole market | +11.5% | 16.4% | 0.75 | −28.2% | — | 0.39 | 0.04% |
| 52 | DBJPXtrackers MSCI Japan Hedged Equity ETF · International | Whole market | +20.9% | 19.2% | 1.09 | −31.3% | +348% | 0.13 | 0.45% |
| 53 | PPHVanEck Pharmaceutical ETF · Healthcare | Whole market | +11.6% | 15.8% | 0.78 | −29.7% | +153% | 0.36 | 0.36% |
| 54 | FTQIFirst Trust Nasdaq BuyWrite Income ETF · Dividend & Income | Whole market | +11.5% | 14.8% | 0.82 | −19.4% | +121% | 0.13 | 0.75% |
| 55 | FTXHFirst Trust Nasdaq Pharmaceuticals ETF · Healthcare | Whole market | +11.9% | 16.9% | 0.75 | −32.1% | +153% | 0.22 | 0.60% |
| 56 | HLALWahed FTSE USA Shariah ETF · Broad Market | Whole market | +14.0% | 18.0% | 0.82 | −33.6% | — | 0.09 | 0.50% |
| 57 | IDHQInvesco S&P International Developed Quality ETF · International | Whole market | +10.0% | 17.9% | 0.63 | −33.6% | +183% | 0.33 | 0.29% |
| 58 | DGTState Street SPDR Global Dow ETF · International | Whole market | +13.8% | 15.1% | 0.94 | −34.4% | +261% | 0.41 | 0.50% |
| 59 | SIXAETC 6 Meridian Mega Cap Equity ETF · Broad Market | Whole market | +12.8% | 12.7% | 1.01 | −18.4% | — | 0.42 | 0.31% |
| 60 | DXJWisdomTree Japan Hedged Equity Fund · International Equity | Whole market | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.24 | 0.48% |
| 61 |  KOThe Coca-Cola Company · Food & Beverages | Whole market | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.43 | — |
| 62 | OUSAALPS Funds O’Shares U.S. Quality Dividend ETF · Dividend & Income | Whole market | +9.4% | 13.4% | 0.74 | −33.1% | +186% | 0.43 | 0.48% |
| 63 | NXTGFirst Trust Indxx NextG ETF · Technology | Whole market | +16.2% | 19.1% | 0.89 | −33.6% | +330% | 0.17 | 0.70% |
| 64 | DJDInvesco Dow Jones Industrial Average Dividend ETF · Dividend & Income | Whole market | +11.8% | 13.3% | 0.91 | −34.7% | +227% | 0.45 | 0.07% |
| 65 | JHEMJohn Hancock Multifactor Emerging Markets ETF · International | Whole market | +7.1% | 18.6% | 0.46 | −35.0% | — | 0.27 | 0.49% |
| 66 | RSPHInvesco S&P 500 Equal Weight Health Care ETF · Healthcare | Whole market | +6.1% | 16.8% | 0.44 | −30.4% | +177% | 0.29 | 0.40% |
| 67 | CDCVictoryShares US EQ Income Enhanced Volatility Wtd ETF · Dividend & Income | Whole market | +6.0% | 12.5% | 0.53 | −21.4% | +168% | 0.49 | 0.38% |
| 68 | LGHHCM Defender 500 Index ETF · Broad Market | Whole market | +9.4% | 16.7% | 0.63 | −29.6% | — | 0.16 | 1.00% |
| 69 | EBFEnnis, Inc. · Specialty Business Services | Whole market | +11.2% | 21.4% | 0.60 | −35.4% | +163% | 0.17 | — |
| 70 |  TDThe Toronto-Dominion Bank · Banks | Whole market | +15.8% | 20.0% | 0.84 | −42.0% | +310% | 0.16 | — |
| 71 | BIBLInspire 100 ETF · Broad Market | Whole market | +7.9% | 20.0% | 0.48 | −36.1% | — | 0.16 | 0.41% |
| 72 |  CBChubb Limited · Property & Casualty Insurance | Whole market | +15.7% | 20.4% | 0.82 | −42.6% | +248% | 0.36 | — |
| 73 |  MOAltria Group, Inc. · Tobacco | Whole market | +17.8% | 21.4% | 0.88 | −53.7% | +140% | 0.23 | — |
| 74 |  CMCanadian Imperial Bank of Commerce · Banks | Whole market | +19.2% | 21.6% | 0.93 | −47.3% | +395% | 0.14 | — |
| 75 |  EPDEnterprise Products Partners L.P. · Oil & Gas Midstream | Whole market | +16.4% | 17.1% | 0.98 | −58.1% | +178% | 0.39 | — |
| 76 | VRIGInvesco Variable Rate Investment Grade ETF · Bonds | Whole market | +4.7% | 1.3% | 3.51 | −13.1% | +40.5% | 0.10 | 0.30% |
| 77 |  BMOBank of Montreal · Banks | Whole market | +13.6% | 21.4% | 0.71 | −51.0% | +295% | 0.19 | — |
| 78 |  BNSThe Bank of Nova Scotia · Banks | Whole market | +12.9% | 19.9% | 0.71 | −46.9% | +187% | 0.30 | — |
| 79 | BALTInnovator Defined Wealth Shield ETF · Crypto | Whole market | +6.3% | 3.3% | 1.85 | −4.9% | — | 0.27 | 0.69% |
| 80 |  CMECME Group Inc. · Capital Markets | Whole market | +11.2% | 20.8% | 0.62 | −37.4% | +319% | 0.46 | — |
| 81 | FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Financials | Whole market | +6.0% | 2.3% | 2.55 | −21.0% | +58.0% | 0.03 | 0.60% |
| 82 |  MRSHMarsh & McLennan Companies, Inc. · Insurance | Whole market | +4.4% | 20.9% | 0.31 | −35.8% | +245% | 0.41 | — |
| 83 | SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds | Whole market | +20.6% | 18.4% | 1.12 | −45.7% | — | 0.27 | 0.80% |
| 84 |  GLDSPDR Gold Shares · Gold | Whole market | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.47 | 0.40% |
| 85 |  SLFSun Life Financial Inc. · Life Insurance | Whole market | +11.7% | 19.4% | 0.67 | −50.8% | +255% | 0.21 | — |
| 86 |  MDLZMondelez International, Inc. · Packaged Foods | Whole market | +4.0% | 20.2% | 0.29 | −29.8% | +93.4% | 0.43 | — |
| 87 |  LINLinde plc · Chemicals | Whole market | +11.5% | 20.9% | 0.63 | −32.6% | +394% | 0.28 | — |
| 88 | FNDFSchwab Fundamental International Large Company Index ETF · International Equity | Whole market | +13.6% | 16.3% | 0.87 | −40.2% | +194% | 0.47 | 0.25% |
| 89 | VOEVanguard Morningstar Mid-Cap Value ETF · US Mid-Cap Equity | Whole market | +9.4% | 15.8% | 0.65 | −43.2% | +182% | 0.37 | 0.05% |
| 90 | PBAPembina Pipeline Corporation · Oil & Gas Midstream | Whole market | +13.8% | 21.5% | 0.71 | −70.9% | +172% | 0.52 | — |
| 91 | FLOTiShares Floating Rate Bond ETF · Floating Rate Bonds | Whole market | +4.5% | 1.8% | 2.48 | −13.5% | +35.9% | 0.01 | 0.15% |
| 92 | PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value | Whole market | +16.1% | 15.1% | 1.07 | −41.3% | — | 0.32 | 0.56% |
| 93 | AVDVAvantis International Small Cap Value ETF · International Equity | Whole market | +13.9% | 17.4% | 0.84 | −43.0% | — | 0.43 | 0.36% |
| 94 | RDVYFirst Trust Rising Dividend Achievers ETF · US Dividend Equity | Whole market | +11.3% | 18.8% | 0.67 | −40.6% | +322% | 0.22 | 0.47% |
| 95 | EMXCiShares MSCI Emerging Markets ex China ETF · Emerging Markets Equity | Whole market | +11.1% | 19.5% | 0.64 | −42.8% | — | 0.13 | 0.25% |
| 96 |  VTVanguard Total World Stock ETF · Global Equity | Whole market | +10.3% | 16.2% | 0.69 | −34.2% | +223% | 0.26 | 0.06% |
| 97 |  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% | 0.29 | — |
| 98 | AMLPAlerian MLP ETF · Energy Equity | Whole market | +16.1% | 18.9% | 0.89 | −72.9% | +91.0% | 0.35 | 1.01% |
| 99 | PJULInnovator U.S. Equity Power Buffer ETF · Broad Market | Whole market | +10.5% | 8.6% | 1.20 | −18.2% | — | 0.21 | 0.79% |
| 100 |  IVWiShares S&P 500 Growth ETF · US Large-Cap Growth | Whole market | +13.1% | 21.5% | 0.68 | −32.7% | +413% | 0.05 | 0.18% |
VZ against its popular alternatives
The investments people most often weigh against VZ, compared period by period and year by year.
How do VZ'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 VZ, which divides the map into what did better or worse on each measure.
- None of the 18 popular alternatives earned more than VZ over the past 5 years with smaller price swings, so every higher return on the map came with a bumpier ride.
- Nine of the 18 popular alternatives earned less than VZ over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, VZ returned 2.7% a year, less than the S&P 500's 12.7%, with higher volatility (22.9% against 17.1%).
Green points earned more than VZ 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 |
|---|---|---|
| TDS Telephone and Data Systems, Inc. | +21.1% | 64.5% |
| CSCO Cisco Systems, Inc. | +16.8% | 26.1% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| IDT IDT Corporation | +12.3% | 38.5% |
| T AT&T Inc. | +9.8% | 25.2% |
| AMX América Móvil, S.A.B. de C.V. | +8.5% | 25.8% |
| VOD Vodafone Group Public Limited Company | +7.7% | 28.2% |
| TMUS T-Mobile US, Inc. | +6.4% | 26.1% |
| VZ This pageVerizon Communications Inc. | +2.7% | 22.9% |
| ERIC Telefonaktiebolaget LM Ericsson (publ) | +1.7% | 35.7% |
| RCI Rogers Communications Inc. | −4.8% | 23.4% |
| AMT American Tower Corporation | −4.8% | 27.3% |
| CCI Crown Castle Inc. | −9.9% | 28.3% |
| SBAC SBA Communications Corporation | −10.2% | 30.3% |
| BCE BCE Inc. | −11.3% | 20.0% |
| TU TELUS Corporation | −12.3% | 20.3% |
| CMCSA Comcast Corporation | −13.5% | 27.7% |
| LUMN Lumen Technologies, Inc. | −17.4% | 86.3% |
| SHEN Shenandoah Telecommunications Company | −19.7% | 43.2% |
| CHTR Charter Communications, Inc. | −31.6% | 41.3% |
Has VZ consistently beaten its popular alternatives?
This section compares VZ 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 VZ helps separate lasting outperformance from a single strong stretch.
- Three of the 18 popular alternatives, IDT, CSCO and VOD, outperformed VZ in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- IDT and CSCO outperformed VZ in every long-term period and in all but one short-term period, the most consistent record in the group.
- T earned more for the risk it took than VZ (a higher Sharpe ratio) and fell less in its worst decline of the past 10 years.
A green cell means the alternative earned more than VZ 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 | ||
| VZ Verizon Communications Inc. (this page) | — | −5.1% | +4.0% | −1.0% | +17.2% | +16.4% | +71.5% | +14.4% | +55.8% | 22.9% | 0.23 | −41.2% | — | $185B | — |
| IDT QualifiedIDT Corporation | 5/5 short3/3 longAll-weather | +22.8% | +34.1% | +61.9% | +67.6% | +74.9% | +196% | +78.8% | +429% | 38.5% | 0.49 | −77.1% | — | $2.1B | — |
| CSCO QualifiedCisco Systems, Inc. | 4/5 short3/3 longAll-weather | −3.9% | −3.2% | +22.6% | +42.2% | +53.8% | +118% | +118% | +374% | 26.1% | 0.73 | −42.0% | — | $421B | — |
| VOD QualifiedVodafone Group Public Limited Company | 3/5 short2/3 long | −6.7% | +3.1% | +3.4% | +21.3% | +41.9% | +109% | +44.9% | +9.3% | 28.2% | 0.41 | −62.2% | — | $37B | — |
| T Telecommunications ServicesAT&T Inc. | 1/5 short3/3 long | −6.8% | +8.0% | −8.2% | 0.0% | −5.9% | +77.2% | +59.7% | +60.7% | 25.2% | 0.50 | −39.4% | — | $161B | — |
| TDS Telecommunications ServicesTelephone and Data Systems, Inc. | 0/5 short3/3 long | −7.2% | +0.9% | −24.8% | +8.5% | +15.0% | +156% | +161% | +119% | 64.5% | 0.57 | −79.0% | — | $3.7B | — |
| ERIC Communication EquipmentTelefonaktiebolaget LM Ericsson (publ) | 2/5 short2/3 long | +5.5% | +12.9% | −8.0% | +15.6% | +15.6% | +164% | +8.9% | +161% | 35.7% | 0.23 | −66.6% | — | $36B | — |
| TMUS Telecommunications ServicesT-Mobile US, Inc. | 1/5 short2/3 long | −4.5% | −18.9% | −19.6% | −19.7% | −30.0% | +21.1% | +36.1% | +253% | 26.1% | 0.37 | −44.0% | — | $169B | — |
| AMX Telecommunications ServicesAmérica Móvil, S.A.B. de C.V. | 1/5 short2/3 long | +2.0% | −12.3% | −11.8% | +12.1% | +5.0% | +48.3% | +50.5% | +149% | 25.8% | 0.45 | −44.4% | — | $68B | — |
| AMT REIT - SpecialtyAmerican Tower Corporation | 3/5 short1/3 long | +6.3% | +11.1% | +3.1% | +8.2% | −1.1% | +27.5% | −21.8% | +107% | 27.3% | -0.04 | −45.4% | — | $86B | — |
| SBAC REIT - SpecialtySBA Communications Corporation | 1/5 short1/3 long | +2.7% | +0.1% | −16.8% | −4.1% | −6.2% | +0.4% | −41.5% | +79.2% | 30.3% | -0.20 | −55.9% | — | $19B | — |
| LUMN Telecommunications ServicesLumen Technologies, Inc. | 0/5 short1/3 long | −30.6% | −29.8% | −48.3% | −41.7% | −37.4% | +222% | −61.5% | −71.8% | 86.3% | 0.17 | −94.4% | — | $4.6B | — |
| CCI REIT - SpecialtyCrown Castle Inc. | 2/5 short0/3 long | +10.8% | +5.3% | −4.9% | −4.9% | −13.7% | +10.7% | −40.6% | +35.4% | 28.3% | -0.23 | −59.7% | — | $35B | — |
| TU Telecommunications ServicesTELUS Corporation | 1/5 short0/3 long | −2.5% | −16.5% | −28.5% | −31.3% | −38.9% | −34.4% | −48.2% | −8.4% | 20.3% | -0.55 | −61.9% | — | $13B | — |
| CMCSA Telecommunications ServicesComcast Corporation | 1/5 short0/3 long | −1.0% | −4.5% | −22.6% | −14.9% | −20.3% | −41.4% | −51.6% | −9.9% | 27.7% | -0.39 | −60.3% | — | $79B | — |
| RCI Telecommunications ServicesRogers Communications Inc. | 0/5 short0/3 long | −6.2% | −6.5% | −1.4% | −12.5% | −8.4% | −1.3% | −21.7% | +12.2% | 23.4% | -0.09 | −56.9% | — | $17B | — |
| BCE Telecommunications ServicesBCE Inc. | 0/5 short0/3 long | −8.7% | −6.2% | −14.0% | −11.8% | −11.4% | −32.5% | −45.2% | −20.1% | 20.0% | -0.51 | −56.6% | — | $19B | — |
| SHEN Telecommunications ServicesShenandoah Telecommunications Company | 0/5 short0/3 long | −16.4% | −8.7% | −39.3% | −10.3% | −19.8% | −52.8% | −66.6% | −33.4% | 43.2% | -0.29 | −73.5% | — | $561M | — |
| CHTR Telecommunications ServicesCharter Communications, Inc. | 0/5 short0/3 long | −10.8% | −14.8% | −55.0% | −47.4% | −56.3% | −74.4% | −85.0% | −57.4% | 41.3% | -0.71 | −87.5% | — | $15B | — |
How did VZ do year by year?
This table shows each investment's total return in every full calendar year since 1997, along with where VZ ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with VZ and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- VZ finished ahead of the S&P 500 in 12 of its 29 full calendar years, and behind it in each of the last seven.
- Among its popular alternatives, CHTR came out ahead of VZ most often, in 11 of the 15 years both traded.
- Ranked against its popular alternatives each year, VZ finished in the top quarter in four of 29 years and in the bottom quarter in four. In 2025, it ranked 10 of 19.
Newest year first. Green marks a year in which the fund came out ahead of VZ; gray means the two finished within a fraction of a point. The rank row places VZ among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of VZ | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| VZ This pageVerizon Communications Inc. | — | +8.9% | +13.1% | +2.7% | −20.0% | −7.5% | −0.1% | +13.8% | +11.3% | +4.0% | +20.7% | +3.6% | −0.5% | +18.6% | +13.2% | +18.2% | +23.0% | +3.8% | −20.1% | +22.1% | +34.0% | −22.2% | +20.1% | −5.7% | −15.3% | −2.6% | −16.9% | +17.0% | +22.4% | +46.6% |
| Rank among alternatives | Top quarter in 4 of 29 | 10 of 19 | 8 of 19 | 12 of 19 | 7 of 19 | 18 of 19 | 10 of 19 | 13 of 19 | 6 of 19 | 15 of 19 | 7 of 19 | 7 of 19 | 15 of 19 | 10 of 19 | 12 of 19 | 4 of 19 | 9 of 18 | 15 of 18 | 3 of 18 | 9 of 17 | 9 of 17 | 16 of 17 | 9 of 17 | 17 of 17 | 4 of 17 | 4 of 15 | 9 of 15 | 10 of 14 | 9 of 12 | 7 of 12 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 17 of 29 | +17.7% | +24.9% | +26.2% | −18.2% | +28.7% | +18.3% | +31.2% | −4.6% | +21.7% | +12.0% | +1.2% | +13.5% | +32.3% | +16.0% | +1.9% | +15.1% | +26.4% | −36.8% | +5.1% | +15.9% | +4.8% | +10.7% | +28.2% | −21.6% | −11.7% | −9.8% | +20.4% | +28.7% | +33.5% |
| IDT IDT Corporation | 13 of 24 | +8.2% | +40.1% | +21.0% | −36.2% | +257% | +71.4% | +16.5% | −40.3% | −39.4% | +98.6% | −38.2% | +24.1% | +125% | +16.0% | −34.1% | +443% | +305% | −95.3% | −31.6% | +11.8% | −24.4% | −33.1% | +49.1% | −6.7% | — | — | — | — | — |
| CSCO Cisco Systems, Inc. | 13 of 29 | +33.5% | +21.0% | +9.3% | −22.5% | +45.8% | −3.5% | +13.8% | +16.6% | +31.3% | +15.1% | +0.6% | +28.0% | +16.7% | +11.6% | −9.6% | −15.5% | +46.9% | −39.8% | −1.0% | +59.7% | −11.4% | −20.3% | +85.0% | −27.7% | −52.6% | −28.6% | +131% | +150% | +31.2% |
| VOD Vodafone Group Public Limited Company | 11 of 29 | +63.6% | +5.6% | −4.6% | −27.2% | −3.5% | −9.5% | +5.6% | −34.8% | +38.1% | −20.0% | −0.9% | −8.8% | +64.3% | −4.7% | +14.3% | +21.5% | +20.0% | −42.3% | +39.9% | +18.4% | −19.0% | +11.7% | +40.1% | −28.3% | −27.8% | −27.3% | +54.8% | +124% | +78.7% |
| T AT&T Inc. | 15 of 29 | +14.0% | +44.0% | −2.8% | +6.5% | −5.9% | −19.6% | +48.5% | −20.8% | −2.4% | +32.0% | +10.3% | +2.4% | +11.6% | +19.4% | +11.1% | +14.0% | +6.9% | −26.9% | +22.1% | +55.6% | +1.9% | +5.5% | +3.6% | −27.6% | −15.4% | +0.6% | −6.7% | +50.8% | +46.9% |
| TDS Telephone and Data Systems, Inc. | 14 of 29 | +20.7% | +89.0% | +85.9% | −45.3% | +12.0% | −24.4% | −20.0% | +19.6% | −1.5% | +14.0% | +4.7% | +0.1% | +18.8% | −5.0% | −28.0% | +9.2% | +8.4% | −48.8% | +16.0% | +52.1% | −7.8% | +24.1% | +34.7% | −47.1% | +0.3% | −28.2% | +182% | −2.4% | +29.9% |
| ERIC Telefonaktiebolaget LM Ericsson (publ) | 15 of 29 | +24.0% | +33.5% | +13.2% | −44.4% | −7.2% | +38.3% | +0.1% | +35.2% | +16.7% | −36.4% | −18.1% | +2.3% | +25.5% | +3.4% | −9.5% | +28.7% | +20.9% | −30.3% | −40.7% | +18.8% | +10.6% | +77.8% | +162% | −87.1% | −53.0% | −31.7% | +177% | +29.3% | +24.7% |
| TMUS T-Mobile US, Inc. | 11 of 18 | −6.6% | +39.7% | +15.0% | +20.7% | −14.0% | +72.0% | +23.3% | +0.1% | +10.4% | +47.0% | +45.2% | −19.9% | +69.2% | +14.5% | −31.3% | +65.5% | −48.6% | −23.7% | — | — | — | — | — | — | — | — | — | — | — |
| AMX América Móvil, S.A.B. de C.V. | 12 of 24 | +48.6% | −20.3% | +4.6% | −10.2% | +48.8% | −6.7% | +15.0% | −15.2% | +39.1% | −8.5% | −31.6% | −3.6% | +2.7% | +3.7% | −20.3% | +23.3% | +55.6% | −49.0% | +35.8% | +55.6% | +68.4% | +92.3% | +91.3% | −26.2% | — | — | — | — | — |
| AMT American Tower Corporation | 13 of 27 | −0.9% | −12.2% | +5.4% | −25.7% | +32.9% | −0.5% | +47.9% | +13.3% | +37.7% | +11.2% | 0.0% | +25.8% | +4.8% | +30.4% | +16.9% | +19.5% | +47.3% | −31.2% | +14.3% | +37.5% | +47.2% | +70.0% | +207% | −62.8% | −75.0% | +23.9% | +3.4% | — | — |
| SBAC SBA Communications Corporation | 14 of 26 | −3.1% | −18.2% | −8.2% | −27.3% | +39.0% | +17.8% | +49.3% | −0.9% | +58.2% | −1.7% | −5.1% | +23.3% | +26.6% | +65.2% | +4.9% | +19.9% | +109% | −51.8% | +23.1% | +53.6% | +93.0% | +146% | +818% | −96.9% | −68.3% | +119% | — | — | — |
| LUMN Lumen Technologies, Inc. | 11 of 29 | +46.3% | +190% | −64.9% | −55.5% | +38.7% | −19.1% | −5.3% | +2.0% | −21.7% | +2.2% | −31.9% | +31.7% | −13.2% | +13.1% | −13.2% | +38.0% | +44.9% | −29.6% | −4.5% | +32.6% | −5.9% | +9.6% | +11.9% | −9.8% | −7.6% | −24.1% | +5.7% | +105% | +62.9% |
| CCI Crown Castle Inc. | 14 of 27 | +3.0% | −16.4% | −10.2% | −32.6% | +35.1% | +15.5% | +35.4% | +1.8% | +33.0% | +4.5% | +14.4% | +9.9% | +1.8% | +61.0% | +2.2% | +12.3% | +122% | −57.8% | +28.8% | +20.0% | +61.8% | +50.7% | +195% | −64.9% | −60.5% | −15.7% | +36.7% | — | — |
| TU TELUS Corporation | 15 of 29 | +5.0% | −18.4% | −2.3% | −14.4% | +24.4% | +7.3% | +22.8% | −8.5% | +24.2% | +20.4% | −20.1% | +8.7% | +9.9% | +26.7% | +28.4% | +46.8% | +16.2% | −38.4% | +11.1% | +14.2% | +42.5% | +61.1% | +86.2% | −23.7% | −40.3% | +14.4% | +13.6% | −5.8% | +54.4% |
| CMCSA Comcast Corporation | 17 of 29 | −22.6% | −12.0% | +28.8% | −28.8% | −2.3% | +19.0% | +33.9% | −12.8% | +17.3% | +24.8% | −1.2% | +13.0% | +41.3% | +60.4% | +10.3% | +33.2% | +1.4% | −6.6% | −35.3% | +63.5% | −22.2% | +1.5% | +38.9% | −34.4% | −12.9% | −13.7% | +66.9% | +80.5% | +81.0% |
| RCI Rogers Communications Inc. | 15 of 29 | +28.6% | −31.9% | +3.4% | +1.6% | +5.6% | −3.0% | −0.2% | +3.7% | +36.4% | +16.1% | −7.1% | −10.1% | +3.3% | +23.0% | +15.7% | +15.8% | +7.5% | −31.7% | +53.3% | +41.4% | +62.0% | +58.8% | +77.4% | −44.2% | −1.0% | −31.1% | +180% | +81.5% | −31.6% |
| BCE BCE Inc. | 16 of 29 | +10.2% | −35.5% | −4.2% | −10.7% | +28.6% | −2.0% | +23.9% | −12.6% | +15.0% | +17.3% | −11.6% | +11.3% | +6.1% | +8.6% | +23.8% | +35.5% | +43.3% | −47.1% | +53.1% | +7.8% | +3.5% | +13.5% | +30.0% | −16.3% | −17.6% | +41.8% | +164% | +31.3% | +67.6% |
| SHEN Shenandoah Telecommunications Company | 18 of 29 | −7.4% | −41.3% | +36.7% | −37.5% | −6.0% | +4.7% | −5.2% | +31.8% | +24.6% | +28.1% | +39.0% | +23.7% | +70.2% | +49.8% | −42.7% | −6.3% | −25.9% | +18.6% | +54.9% | +20.1% | +34.3% | +18.4% | +7.2% | +26.2% | +24.4% | +24.5% | +140% | 0.0% | −13.7% |
| CHTR Charter Communications, Inc. | 11 of 15 | −39.1% | −11.8% | +14.6% | −48.0% | −1.5% | +36.4% | +70.2% | −15.2% | +16.7% | +42.2% | +9.9% | +21.8% | +79.4% | +33.9% | +46.2% | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Risk and diversification
How VZ 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 VZ's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents VZ's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
- In all four of VZ's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: VZ fell 41.2% from December 2020 to October 2023, while the S&P 500 rose 23.1%.
- The slowest recovery came after VZ fell 57.3% from October 1999 to July 2002; it did not regain that peak until December 2011, nine years later.
Green means VZ fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | VZ fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| Dot-com bust | −57.3% | −36.9% | Oct 1999 | Jul 2002 | 2.8 years | Dec 2011 | 9.4 years |
| 2022 bear market | −41.2% | +23.1% | Dec 2020 | Oct 2023 | 2.8 years | Feb 2026 | 2.3 years |
| No named crash | −27.3% | — | Jan 1990 | Aug 1990 | 7 months | Dec 1990 | 4 months |
| No named crash | −24.9% | −3.0% | Oct 1993 | Apr 1994 | 6 months | Oct 1995 | 18 months |
| No named crash | −24.1% | +0.4% | Feb 1996 | Sep 1996 | 7 months | Feb 1997 | 5 months |
How did VZ do in stock market crashes?
This section measures how far VZ, 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.
- VZ fell less than the S&P 500 in seven of the ten crashes it has traded through. The clearest case was the Covid crash, when VZ fell 13.6% and the S&P 500 fell 33.7%.
- None of its popular alternatives fell less than VZ in most of the crashes they both traded through.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than VZ.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| VZ This pageVerizon Communications Inc. | — | −2.6% | −33.2% | −13.6% | −12.5% | −7.4% | −10.5% | −9.9% | 0.0% | −43.9% | −55.2% |
| SPY S&P 500State Street SPDR S&P 500 ETF | 3 of 10 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| IDT IDT Corporation | 1 of 9 | 0.0% | −51.3% | −45.0% | −30.8% | −7.0% | −36.4% | −27.5% | −10.0% | −97.4% | — |
| CSCO Cisco Systems, Inc. | 2 of 10 | −1.4% | −35.4% | −29.1% | −17.5% | −5.3% | −22.8% | −16.6% | −3.1% | −60.0% | −89.3% |
| VOD Vodafone Group Public Limited Company | 1 of 10 | −1.7% | −39.7% | −42.2% | −18.5% | −8.5% | −21.9% | −12.9% | −2.8% | −59.0% | −79.1% |
| T AT&T Inc. | 5 of 10 | −1.6% | −29.2% | −30.6% | −18.3% | −6.5% | −8.6% | −9.1% | −0.3% | −44.4% | −63.5% |
| TDS Telephone and Data Systems, Inc. | 0 of 10 | −10.0% | −33.0% | −39.5% | −13.4% | −7.7% | −30.8% | −33.8% | −2.8% | −67.6% | −64.3% |
| ERIC Telefonaktiebolaget LM Ericsson (publ) | 0 of 10 | −2.3% | −53.5% | −31.3% | −13.3% | −7.5% | −19.2% | −31.9% | −0.8% | −71.4% | −98.6% |
| TMUS T-Mobile US, Inc. | 1 of 9 | −2.6% | −12.1% | −26.0% | −13.7% | −7.4% | −21.2% | −52.5% | −11.3% | −57.5% | — |
| AMX América Móvil, S.A.B. de C.V. | 2 of 9 | −2.8% | −24.8% | −36.3% | −24.9% | −6.3% | −33.5% | −18.8% | 0.0% | −65.4% | — |
| AMT American Tower Corporation | 1 of 10 | −2.3% | −34.2% | −28.8% | −8.4% | −8.0% | −19.2% | −13.6% | −2.9% | −56.5% | −98.7% |
| SBAC SBA Communications Corporation | 1 of 10 | −3.9% | −34.1% | −28.8% | −8.7% | −7.8% | −33.6% | −15.8% | −0.6% | −72.2% | −99.6% |
| LUMN Lumen Technologies, Inc. | 1 of 10 | −13.9% | −49.4% | −33.7% | −34.8% | −9.8% | −21.3% | −17.7% | −1.5% | −50.8% | −43.7% |
| CCI Crown Castle Inc. | 1 of 10 | −2.4% | −34.5% | −29.8% | −10.7% | −7.4% | −11.1% | −11.9% | −2.1% | −76.1% | −97.6% |
| TU TELUS Corporation | 3 of 10 | −2.2% | −28.1% | −31.7% | −10.3% | −2.8% | −25.4% | −14.9% | 0.0% | −58.5% | −88.5% |
| CMCSA Comcast Corporation | 1 of 10 | −1.6% | −43.4% | −27.5% | −16.1% | −7.1% | −14.7% | −21.7% | −0.8% | −53.1% | −61.6% |
| RCI Rogers Communications Inc. | 2 of 10 | −2.8% | −38.1% | −35.1% | −6.5% | −5.5% | −17.7% | −14.5% | 0.0% | −61.2% | −82.8% |
| BCE BCE Inc. | 5 of 10 | −1.7% | −28.9% | −33.9% | −7.3% | −2.1% | −17.0% | −9.8% | 0.0% | −60.7% | −50.7% |
| SHEN Shenandoah Telecommunications Company | 3 of 10 | −1.2% | −39.5% | −20.4% | −19.2% | −5.6% | −20.0% | −39.1% | −2.2% | −50.2% | −49.1% |
| CHTR Charter Communications, Inc. | 0 of 8 | −6.9% | −52.7% | −31.5% | −17.8% | −10.0% | −18.0% | −29.6% | −1.3% | — | — |
How closely does VZ 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 VZ 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, VZ captured 44% of the S&P 500's gains in rising months and 60% of its losses in falling months, with a beta of 0.36. Its share of the market's losses was larger than its share of the gains.
- IDT took just 34% of the S&P 500's losses, against 60% for VZ, while still keeping 74% of its gains.
- Seven of the 18 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than VZ's 0.74, led by IDT, TMUS and CSCO.
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 VZ's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| VZ This pageVerizon Communications Inc. | 44% | 60% | 0.74 | 0.36 |
| IDT IDT Corporation | 74% | 34% | 2.16 | 0.90 |
| TMUS T-Mobile US, Inc. | 63% | 37% | 1.72 | 0.46 |
| CSCO Cisco Systems, Inc. | 101% | 96% | 1.06 | 0.97 |
| TDS Telephone and Data Systems, Inc. | 50% | 47% | 1.06 | 0.70 |
| AMX América Móvil, S.A.B. de C.V. | 58% | 55% | 1.05 | 0.69 |
| AMT American Tower Corporation | 61% | 79% | 0.78 | 0.60 |
| T AT&T Inc. | 47% | 62% | 0.76 | 0.50 |
| SBAC SBA Communications Corporation | 55% | 79% | 0.70 | 0.64 |
| ERIC Telefonaktiebolaget LM Ericsson (publ) | 73% | 108% | 0.67 | 0.71 |
| VOD Vodafone Group Public Limited Company | 52% | 100% | 0.53 | 0.69 |
| CCI Crown Castle Inc. | 54% | 101% | 0.53 | 0.70 |
| RCI Rogers Communications Inc. | 53% | 104% | 0.51 | 0.59 |
| CMCSA Comcast Corporation | 65% | 139% | 0.47 | 0.87 |
| TU TELUS Corporation | 42% | 93% | 0.46 | 0.67 |
| BCE BCE Inc. | 43% | 100% | 0.43 | 0.50 |
| LUMN Lumen Technologies, Inc. | 99% | 255% | 0.39 | 1.44 |
| SHEN Shenandoah Telecommunications Company | 34% | 93% | 0.37 | 0.55 |
| CHTR Charter Communications, Inc. | 41% | 141% | 0.29 | 0.88 |
What diversifies VZ?
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 VZ's. Because such investments tend not to fall at the same time, pairing VZ with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in VZ into SPMO would have cut the portfolio's volatility by 18% over the past 5 years and raised its annual return (+3.1% for VZ alone, +7.3% for the mix).
- MCK made money in eight of the ten calendar years in which VZ lost money.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of VZ over the past 5 years, with correlations of 0.48 or lower, and each still earned a positive 5-year return.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which VZ lost money. The last two columns show a portfolio that is 80% VZ and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2021 | 2020 | 2014 | 2008 | 2005 | 2003 | 2002 | 2001 | 2000 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| VZ Verizon Communications Inc. (this page) | 1.00 | +14.4% | 0.23 | −20.0% | −7.5% | −0.1% | −0.5% | −20.1% | −22.2% | −5.7% | −15.3% | −2.6% | −16.9% | 22.1% | +3.1% |
| LVHI InternationalFranklin International Low Volatility High Dividend Index ETF | 0.48 | +119% | 1.48 | +3.8% | +17.8% | −9.0% | — | — | — | — | — | — | — | 18.7% | +6.0% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.24 | +225% | 1.34 | +6.0% | +18.0% | +3.9% | +8.1% | −20.8% | — | — | — | — | — | 18.5% | +8.0% |
| EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund | 0.42 | +101% | 1.04 | +10.4% | +23.1% | −13.4% | +23.8% | — | — | — | — | — | — | 19.1% | +5.8% |
| SMH TechnologyVanEck Semiconductor ETF | -0.05 | +323% | 0.97 | −33.5% | +42.1% | +55.5% | +30.2% | −44.7% | +10.8% | +87.3% | −47.0% | −14.6% | — | 18.7% | +10.7% |
| DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF | 0.26 | +85.0% | 0.96 | −5.1% | +19.6% | +2.1% | +3.4% | — | — | — | — | — | — | 18.4% | +5.5% |
| GLD CommoditiesSPDR Gold Shares | 0.47 | +126% | 0.96 | −0.8% | −4.2% | +24.8% | −2.2% | +4.9% | +17.8% | — | — | — | — | 19.5% | +6.3% |
| SPMO Broad MarketInvesco S&P 500 Momentum ETF | 0.02 | +136% | 0.93 | −10.4% | +22.7% | +28.2% | — | — | — | — | — | — | — | 18.2% | +7.3% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.37 | +177% | 0.93 | +64.4% | +53.3% | −32.7% | −8.7% | −39.0% | +40.1% | +25.9% | −14.8% | −18.2% | +24.4% | 20.2% | +7.4% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2021 | 2020 | 2014 | 2008 | 2005 | 2003 | 2002 | 2001 | 2000 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| VZ Verizon Communications Inc. (this page) | 1.00 | +14.4% | 0.23 | −20.0% | −7.5% | −0.1% | −0.5% | −20.1% | −22.2% | −5.7% | −15.3% | −2.6% | −16.9% | 22.1% | +3.1% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.05 | +479% | 1.55 | +54.1% | −0.4% | +10.1% | +23.0% | −39.6% | +18.7% | +3.5% | −8.3% | −2.5% | +108% | 18.7% | +10.3% |
| CLS Hardware, Equipment & PartsCelestica Inc. | -0.19 | +3,143% | 1.47 | +1.3% | +37.9% | −2.4% | +12.9% | −20.5% | −25.2% | +6.9% | −65.1% | −25.6% | −2.3% | 19.3% | +22.9% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | -0.04 | +1,636% | 1.46 | +17.0% | +89.0% | +6.7% | −10.4% | −15.2% | +20.1% | +63.6% | −9.4% | +73.7% | −71.1% | 19.5% | +18.7% |
| MCK Medical - DistributionMcKesson Corporation | 0.30 | +413% | 1.44 | +51.8% | +44.2% | +27.1% | +29.3% | −40.4% | +64.9% | +19.9% | −27.2% | +4.9% | +61.2% | 19.8% | +9.4% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.33 | +690% | 1.41 | +86.6% | +61.0% | −27.4% | +0.4% | — | — | — | — | — | — | 20.8% | +11.9% |
Common questions
What was VZ's worst drawdown?
VZ's deepest decline since it began trading in 1986 was 57.3%, from October 1999 to July 2002. It took about nine years from the low to climb back to its old high.
What were VZ's best and worst years?
Over 29 full calendar years, VZ's best year was 1997, when it returned 46.6%. Its worst was 2005, with a return of -22.2%.
Is there a better investment than VZ?
Among VZ's popular alternatives, CSCO, VOD and IDT were ahead of VZ in most short and long periods. Looking beyond its popular alternatives, CHT (integrated telecommunications) earned more than VZ with less volatility over the past 5 years: 7.7% a year at 13.3% volatility, against 2.7% a year at 22.9%.
Is VZ more volatile than the S&P 500?
Yes. VZ's volatility over the past 5 years was 22.9%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, VZ's return lands within 22.9% 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 VZ's Sharpe ratio?
VZ's Sharpe ratio over the past 5 years was 0.23, against 0.79 for the S&P 500, so VZ 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 VZ with the S&P 500?
Over the past 5 years, VZ's monthly returns had a correlation of 0.19 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 VZ instead: the lower it is, the more that option would diversify a VZ holding.
What are the best alternatives to VZ?
Of the 18 popular alternatives we compared, three outperformed VZ in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: IDT, CSCO and VOD.
Did VZ outperform the S&P 500?
VZ finished ahead of the S&P 500 (SPY) in 12 of 29 full calendar years. In 2025, it returned +8.9%, against +17.7% for the index.
How did VZ do in stock market crashes?
VZ fell less than the S&P 500 (SPY) in seven of the ten major crashes it has traded through, and further in three. The clearest case was the Covid crash, when VZ fell 13.6% and the S&P 500 fell 33.7%.
What diversifies VZ?
These had a low correlation with VZ over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.48), DXJ (correlation 0.24) and EMLP (correlation 0.42); among large stocks, CAH (correlation 0.05), CLS (correlation -0.19) and FIX (correlation -0.04). 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 VZ's. Returns within 0.5 points or 3% of VZ'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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