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Relative Intelligence · Enterprise Software

How Workday (WDAY) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on WDAY alone. It places WDAY (Workday, Inc.) 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 WDAY stands in the market, and of the alternatives worth a closer look.

Period covered: WDAY's full trading record, from December 2012 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against WDAY →Chart WDAY vs. 20 alternatives →
On this page12 sections

Key findings

How much would $10,000 in WDAY have grown?

This chart tracks a hypothetical $10,000 investment in WDAY over the past 13 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of WDAY over the same span and WDAY'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.

Note: WDAY began trading on December 10, 2012, so the chart cannot reach back to the dot-com bust, the 2008 financial crisis or two other sell-offs. It covers the most recent 13 years of WDAY's record, starting at the end of September 2013.

Choose a period

From the end of September 2013 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 1,444 of the 2,311 stocks and funds worth at least $500 million that traded the whole period ended ahead of WDAY; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000$200,0002013201520172019202120232025$10,000$20,000$50,000$100,000$200,00020132016201920222025
  • MSFT$188,430+1,784% total · +25.3% a year
  • NOW$128,971+1,190% total · +21.7% a year
  • SPY (S&P 500)$56,474+465% total · +14.2% a year
  • ADP$54,397+444% total · +13.9% a year
  • CRM$45,067+351% total · +12.3% a year
  • PAYX$36,548+265% total · +10.5% a year
  • SAP$34,529+245% total · +10.0% a year
  • ACN$32,346+223% total · +9.5% a year
  • WDAY$23,534+135% total · +6.8% a year
  • IBM$20,411+104% total · +5.6% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 2,953 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of WDAY; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000202120222023202420252026$0$10,000$20,000$30,000$40,000202120222023202420252026
  • IBM$20,049+100% total · +14.9% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • MSFT$18,958+89.6% total · +13.6% a year
  • ORCL$16,857+68.6% total · +11.0% a year
  • SAP$16,715+67.2% total · +10.8% a year
  • ADP$14,432+44.3% total · +7.6% a year
  • NOW$10,768+7.7% total · +1.5% a year
  • CRM$8,626−13.7% total · −2.9% a year
  • WDAY$7,622−23.8% total · −5.3% a year
  • TEAM$4,580−54.2% total · −14.5% a year
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WDAY 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.

Note: WDAY began trading on December 10, 2012, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust, the 2008 financial crisis or two other sell-offs.

The company

Market value
$49B
Industry
Software - Application
Price history from
December 2012

Returns

Past 1 year
−15.4%total return
Past 3 years
−3.4%−1.1% a year
Past 5 years
−26.4%−6.0% a year
Past 10 years
+132%+8.8% a year
Best calendar year
+65.0%2023
Worst calendar year
−38.7%2022
Losing years
6 of 13full calendar years

Risk

Volatility
41.7%typical yearly swing, 5 years
Sharpe ratio
0.06return per unit of risk, 5 years
Worst decline ever
−63.4%Feb 2024 to Apr 2026
From its all-time high
−33.6%below the peak

WDAY against the whole market

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

How does WDAY rank among all stocks?

This section ranks WDAY 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 WDAY stacks up against its peers, these rankings show where it stands in the market as a whole.

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.

MeasureWDAYRankStanding
1-year return−15.4%2,518 of 3,287bottom 24%
3-year return−3.4%2,379 of 3,017bottom 22%
5-year return−26.4%2,094 of 2,893bottom 29%
10-year return+132%1,173 of 2,202bottom 48%
Volatility, 5 years41.7%1,541 of 2,893bottom 48%
Sharpe ratio, 5 years0.062,214 of 2,893bottom 24%
Worst decline, past 10 years−63.4%1,015 of 2,187top 46%

What has beaten WDAY 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). WDAY sits where the dashed lines cross. Anything in the green box above and to the left earned more than WDAY 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.

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 WDAY; faint dots are 89 more of the 2,180 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.

−10.0%0.0%10.0%20.0%30.0%40.0%50.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than WDAYKO: +14.7% a year, volatility 16.8%MPC: +51.2% a year, volatility 33.4%HPQ: +5.7% a year, volatility 37.3%MRK: +16.3% a year, volatility 24.8%NVS: +17.1% a year, volatility 20.7%AMGN: +19.6% a year, volatility 24.9%PG: +5.1% a year, volatility 18.3%SGOV: +3.8% a year, volatility 0.3%LIN: +11.5% a year, volatility 20.9%AZN: +8.7% a year, volatility 35.7%BNY: +22.7% a year, volatility 24.4%TRV: +22.4% a year, volatility 22.3%TM: +5.0% a year, volatility 27.0%AEM: +29.5% a year, volatility 38.4%VYM: +11.3% a year, volatility 13.8%SO: +11.3% a year, volatility 18.8%TMUS: +6.4% a year, volatility 26.1%CME: +11.2% a year, volatility 20.8%RSG: +13.9% a year, volatility 18.5%MCD: +2.9% a year, volatility 17.9%RY: +17.3% a year, volatility 18.2%ORLY: +15.9% a year, volatility 23.4%WPM: +27.5% a year, volatility 36.9%WM: +9.3% a year, volatility 19.2%NEE: +1.5% a year, volatility 26.8%ETR: +19.2% a year, volatility 22.4%DUK: +7.5% a year, volatility 18.0%AEP: +12.4% a year, volatility 20.2%B: +18.9% a year, volatility 37.3%JAAA: +5.1% a year, volatility 1.7%AJG: +10.9% a year, volatility 24.2%ICE: +5.4% a year, volatility 21.8%ECL: +6.7% a year, volatility 24.1%MRSH: +4.4% a year, volatility 20.9%GRMN: +14.8% a year, volatility 31.6%IRM: +24.6% a year, volatility 30.3%CASY: +29.9% a year, volatility 29.3%AZO: +12.3% a year, volatility 25.3%RELX: +7.0% a year, volatility 24.1%EFV: +13.6% a year, volatility 15.9%XLV: +8.4% a year, volatility 15.3%AAPL: +18.5% a year, volatility 28.0%DLR: +6.3% a year, volatility 29.4%ATO: +14.9% a year, volatility 18.4%FNV: +12.5% a year, volatility 31.3%BUG: +7.1% a year, volatility 30.4%APD: +3.2% a year, volatility 26.4%GOOG: +19.0% a year, volatility 32.0%BCH: +25.2% a year, volatility 28.2%XEL: +6.5% a year, volatility 20.9%KR: +12.3% a year, volatility 27.3%EXC: +7.1% a year, volatility 20.9%FER: +13.4% a year, volatility 31.3%SLV: +18.3% a year, volatility 37.5%WCN: +6.1% a year, volatility 20.0%HDV: +12.9% a year, volatility 13.0%NI: +15.1% a year, volatility 20.3%WEC: +7.2% a year, volatility 19.0%FTS: +8.4% a year, volatility 16.4%A: +2.6% a year, volatility 30.6%WAT: +4.5% a year, volatility 33.9%USMV: +7.6% a year, volatility 12.3%KDP: +2.5% a year, volatility 22.1%AEE: +7.9% a year, volatility 19.4%PEG: +5.7% a year, volatility 20.6%CINF: +10.2% a year, volatility 25.7%WTW: +6.9% a year, volatility 23.9%XLU: +7.8% a year, volatility 17.4%SDY: +7.6% a year, volatility 14.0%RNR: +20.1% a year, volatility 27.8%VTI: +11.5% a year, volatility 17.5%PBR: +50.3% a year, volatility 37.5%CHD: +6.1% a year, volatility 21.1%DBEF: +13.1% a year, volatility 13.8%VOO: +12.8% a year, volatility 16.9%AMZN: +9.0% a year, volatility 36.6%FDL: +13.9% a year, volatility 14.4%LNT: +7.3% a year, volatility 19.8%BRO: +2.6% a year, volatility 26.0%EG: +9.4% a year, volatility 25.7%NEU: +21.0% a year, volatility 26.8%VLO: +44.2% a year, volatility 36.9%WMT: +20.8% a year, volatility 22.6%FNDE: +9.8% a year, volatility 17.0%MOAT: +9.1% a year, volatility 18.4%RBA: +5.7% a year, volatility 30.7%ESE: +24.2% a year, volatility 31.1%THG: +14.4% a year, volatility 22.9%SKM: +8.8% a year, volatility 30.0%WDAY: −6.0% a year, volatility 41.7%SPY (S&P 500): +12.7% a year, volatility 17.1%MSFT: +12.5% a year, volatility 28.2%CRM: −3.2% a year, volatility 39.4%IBM: +16.6% a year, volatility 30.5%SAP: +11.5% a year, volatility 30.0%ACN: −5.2% a year, volatility 32.7%ORCL: +7.7% a year, volatility 44.3%VEEV: −0.1% a year, volatility 39.6%PTC: +8.3% a year, volatility 35.0%EXLS: +10.6% a year, volatility 32.6%CDNS: +14.8% a year, volatility 37.2%PANW: +31.9% a year, volatility 43.4%TYL: −5.9% a year, volatility 33.3%SAFT: +10.6% a year, volatility 28.5%LLY: +40.7% a year, volatility 32.8%BRK-B: +13.4% a year, volatility 17.1%NTAP: +20.9% a year, volatility 35.3%VXUS: +8.2% a year, volatility 16.4%GLD: +17.7% a year, volatility 18.9%HPE: +32.9% a year, volatility 42.2%BNJ: −5.2% a year, volatility 18.6%PBR-A: +51.8% a year, volatility 37.5%CAH: +42.1% a year, volatility 24.7%WDAYSPY (S&P 500)MSFTCRMIBMACNORCLVEEVPTCCDNSPANWTYLLLYBRK-BNTAPVXUSGLDHPEBNJPBR-ACAH−10.0%0.0%10.0%20.0%30.0%40.0%50.0%−20.0%0.0%20.0%40.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than WDAYKO: +14.7% a year, volatility 16.8%MPC: +51.2% a year, volatility 33.4%HPQ: +5.7% a year, volatility 37.3%MRK: +16.3% a year, volatility 24.8%NVS: +17.1% a year, volatility 20.7%AMGN: +19.6% a year, volatility 24.9%PG: +5.1% a year, volatility 18.3%SGOV: +3.8% a year, volatility 0.3%LIN: +11.5% a year, volatility 20.9%AZN: +8.7% a year, volatility 35.7%BNY: +22.7% a year, volatility 24.4%TRV: +22.4% a year, volatility 22.3%TM: +5.0% a year, volatility 27.0%AEM: +29.5% a year, volatility 38.4%VYM: +11.3% a year, volatility 13.8%SO: +11.3% a year, volatility 18.8%TMUS: +6.4% a year, volatility 26.1%CME: +11.2% a year, volatility 20.8%RSG: +13.9% a year, volatility 18.5%MCD: +2.9% a year, volatility 17.9%RY: +17.3% a year, volatility 18.2%ORLY: +15.9% a year, volatility 23.4%WPM: +27.5% a year, volatility 36.9%WM: +9.3% a year, volatility 19.2%NEE: +1.5% a year, volatility 26.8%ETR: +19.2% a year, volatility 22.4%DUK: +7.5% a year, volatility 18.0%AEP: +12.4% a year, volatility 20.2%B: +18.9% a year, volatility 37.3%JAAA: +5.1% a year, volatility 1.7%AJG: +10.9% a year, volatility 24.2%ICE: +5.4% a year, volatility 21.8%ECL: +6.7% a year, volatility 24.1%MRSH: +4.4% a year, volatility 20.9%GRMN: +14.8% a year, volatility 31.6%IRM: +24.6% a year, volatility 30.3%CASY: +29.9% a year, volatility 29.3%AZO: +12.3% a year, volatility 25.3%RELX: +7.0% a year, volatility 24.1%EFV: +13.6% a year, volatility 15.9%XLV: +8.4% a year, volatility 15.3%AAPL: +18.5% a year, volatility 28.0%DLR: +6.3% a year, volatility 29.4%ATO: +14.9% a year, volatility 18.4%FNV: +12.5% a year, volatility 31.3%BUG: +7.1% a year, volatility 30.4%APD: +3.2% a year, volatility 26.4%GOOG: +19.0% a year, volatility 32.0%BCH: +25.2% a year, volatility 28.2%XEL: +6.5% a year, volatility 20.9%KR: +12.3% a year, volatility 27.3%EXC: +7.1% a year, volatility 20.9%FER: +13.4% a year, volatility 31.3%SLV: +18.3% a year, volatility 37.5%WCN: +6.1% a year, volatility 20.0%HDV: +12.9% a year, volatility 13.0%NI: +15.1% a year, volatility 20.3%WEC: +7.2% a year, volatility 19.0%FTS: +8.4% a year, volatility 16.4%A: +2.6% a year, volatility 30.6%WAT: +4.5% a year, volatility 33.9%USMV: +7.6% a year, volatility 12.3%KDP: +2.5% a year, volatility 22.1%AEE: +7.9% a year, volatility 19.4%PEG: +5.7% a year, volatility 20.6%CINF: +10.2% a year, volatility 25.7%WTW: +6.9% a year, volatility 23.9%XLU: +7.8% a year, volatility 17.4%SDY: +7.6% a year, volatility 14.0%RNR: +20.1% a year, volatility 27.8%VTI: +11.5% a year, volatility 17.5%PBR: +50.3% a year, volatility 37.5%CHD: +6.1% a year, volatility 21.1%DBEF: +13.1% a year, volatility 13.8%VOO: +12.8% a year, volatility 16.9%AMZN: +9.0% a year, volatility 36.6%FDL: +13.9% a year, volatility 14.4%LNT: +7.3% a year, volatility 19.8%BRO: +2.6% a year, volatility 26.0%EG: +9.4% a year, volatility 25.7%NEU: +21.0% a year, volatility 26.8%VLO: +44.2% a year, volatility 36.9%WMT: +20.8% a year, volatility 22.6%FNDE: +9.8% a year, volatility 17.0%MOAT: +9.1% a year, volatility 18.4%RBA: +5.7% a year, volatility 30.7%ESE: +24.2% a year, volatility 31.1%THG: +14.4% a year, volatility 22.9%SKM: +8.8% a year, volatility 30.0%WDAY: −6.0% a year, volatility 41.7%SPY (S&P 500): +12.7% a year, volatility 17.1%MSFT: +12.5% a year, volatility 28.2%CRM: −3.2% a year, volatility 39.4%IBM: +16.6% a year, volatility 30.5%SAP: +11.5% a year, volatility 30.0%ACN: −5.2% a year, volatility 32.7%ORCL: +7.7% a year, volatility 44.3%VEEV: −0.1% a year, volatility 39.6%PTC: +8.3% a year, volatility 35.0%EXLS: +10.6% a year, volatility 32.6%CDNS: +14.8% a year, volatility 37.2%PANW: +31.9% a year, volatility 43.4%TYL: −5.9% a year, volatility 33.3%SAFT: +10.6% a year, volatility 28.5%LLY: +40.7% a year, volatility 32.8%BRK-B: +13.4% a year, volatility 17.1%NTAP: +20.9% a year, volatility 35.3%VXUS: +8.2% a year, volatility 16.4%GLD: +17.7% a year, volatility 18.9%HPE: +32.9% a year, volatility 42.2%BNJ: −5.2% a year, volatility 18.6%PBR-A: +51.8% a year, volatility 37.5%CAH: +42.1% a year, volatility 24.7%WDAYSPY (S&P 500)CRMIBMACNORCLVEEVPTCCDNSPANWLLYBRK-BNTAPVXUSGLDHPEBNJPBR-ACAH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than WDAY?

Investments that beat WDAY over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat WDAY 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 WDAY'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 WDAY 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 WDAY'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× WDAY's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than WDAY's.

Screen the whole market against WDAY for any period in BetterThanSPYOpen these 21 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with WDAY?lower diversifies moreExpenseper year
WDAYWorkday, Inc. · this page
−6.0%41.7%0.06−63.4%+132%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.430.09%
Popular alternativesbest 6 shownThe investments people most often weigh against WDAY. 12 of 20 passed at least one test.
MSFTMicrosoft Corporation · Software
Higher return, lower volatilityHigher Sharpe, smaller worst decline+12.5%28.2%0.56−37.1%+946%0.67—
CRMSalesforce, Inc. · Enterprise Software
Higher return, lower volatilityHigher return in most periods−3.2%39.4%0.12−58.7%+240%0.70—
IBMInternational Business Machines Corporation · IT Services
Higher return, lower volatilityHigher Sharpe, smaller worst decline+16.6%30.5%0.66−41.1%+151%0.23—
SAPSAP SE · Enterprise Software
Higher return, lower volatilityHigher Sharpe, smaller worst decline+11.5%30.0%0.52−52.5%+205%0.64—
ACNAccenture plc · IT Services
Similar return, lower volatilityHigher return in most periods−5.2%32.7%0.00−67.8%+146%0.72—
ORCLOracle Corporation · Enterprise Software
Higher return, similar volatility+7.7%44.3%0.38−64.6%+300%0.46—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Enterprise Software and Software and the categories next to it (Application Software, IT Services, Cybersecurity, Payment Processing, Semiconductors), plus WDAY's specific themes. 65 of 128 passed at least one test.
VEEVVeeva Systems Inc. · Application Software
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods−0.1%39.6%0.19−55.7%+715%0.52—
PTCPTC Inc. · Application Software
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+8.3%35.0%0.40−54.4%+317%0.51—
EXLSExlService Holdings, Inc. · IT Services
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+10.6%32.6%0.47−51.3%+327%0.39—
CDNSCadence Design Systems, Inc. · Software
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+14.8%37.2%0.56−34.2%+1,139%0.31—
PANWPalo Alto Networks, Inc. · Cybersecurity
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+31.9%43.4%0.86−48.0%+1,274%0.51—
TYLTyler Technologies, Inc. · Application Software
Similar return, lower volatility−5.9%33.3%-0.02−57.4%+132%0.53—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 2,408 of 3,485 passed at least one test.
SAFTSafety Insurance Group, Inc. · Insurance - Property & Casualty
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+10.6%28.5%0.49−32.8%+138%0.20—
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%0.13—
BRK-BBerkshire Hathaway Inc. · Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+13.4%17.1%0.82−29.6%+274%0.23—
NTAPNetApp, Inc. · Computer Hardware
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+20.9%35.3%0.71−58.1%+691%0.46—
VXUSVanguard Total International Stock ETF · International Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+8.2%16.4%0.57−36.0%+140%0.230.05%
GLDSPDR Gold Shares · Gold
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+17.7%18.9%0.96−26.4%+213%0.050.40%
HPEHewlett Packard Enterprise Company · Computer Hardware
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+32.9%42.2%0.89−56.9%+483%0.36—
BNJBrookfield Finance Inc. 4.50% P · Junior Subordinated Debt
Similar return, lower volatility−5.2%18.6%-0.20−39.3%—0.26—
What these numbers mean for WDAY
Annual return
WDAY lost 6.0% 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 $7,360. 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
WDAY's volatility over the past 5 years was 41.7%, 2.4 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, WDAY's return lands within 41.7% 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
WDAY's Sharpe ratio over the past 5 years was 0.06, against 0.79 for the S&P 500, so WDAY 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
WDAY's worst fall from a peak to a low over the past 10 years was 63.4%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 63.4% fall takes a 173% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, WDAY's monthly returns had a correlation of 0.43 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against WDAY instead: the lower it is, the more that option would diversify a WDAY holding. Guide: Correlation and diversification →
Show all 2,180 stocks and funds worth at least $500 million that earned more than WDAY 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.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with WDAYExpense
1
SAFTSafety Insurance Group, Inc. · Insurance - Property & Casualty
Whole market+10.6%28.5%0.49−32.8%+138%0.20—
2
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.13—
3
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.23—
4
NTAPNetApp, Inc. · Computer Hardware
Whole market+20.9%35.3%0.71−58.1%+691%0.46—
5
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.09—
6
VXUSVanguard Total International Stock ETF · International Equity
Whole market+8.2%16.4%0.57−36.0%+140%0.230.05%
7
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%0.16—
8
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+51.8%37.5%1.31−71.7%+768%0.03—
9
HPQHP Inc. · Computer Hardware
Whole market+5.7%37.3%0.33−51.2%+207%0.41—
10
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%0.04—
11
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%-0.07—
12
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%-0.08—
13
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.050.40%
14
PGThe Procter & Gamble Company · Household & Personal Products
Whole market+5.1%18.3%0.37−23.8%+145%0.04—
15
SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds
Whole market+3.8%0.3%13.25−0.3%—0.200.09%
16
LINLinde plc · Chemicals
Whole market+11.5%20.9%0.63−32.6%+394%0.09—
17
AZNAstraZeneca PLC · Pharmaceuticals
Whole market+8.7%35.7%0.41−28.7%+257%-0.07—
18
BNYBank of New York Mellon Corp · Banks
Whole market+22.7%24.4%0.97−50.5%+341%0.28—
19
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.02—
20
TMToyota Motor Corporation · Automobiles
Whole market+5.0%27.0%0.32−36.8%+129%0.32—
21
AEMAgnico Eagle Mines Limited · Gold Mining
Whole market+29.5%38.4%0.87−54.2%+352%0.08—
22
VYMVanguard High Dividend Yield ETF · US Dividend Equity
Whole market+11.3%13.8%0.85−35.2%+208%0.200.04%
23
SOThe Southern Company · Electric Utilities
Whole market+11.3%18.8%0.67−38.4%+170%-0.11—
24
TMUST-Mobile US, Inc. · Telecommunications
Whole market+6.4%26.1%0.37−44.0%+253%0.03—
25
CMECME Group Inc. · Capital Markets
Whole market+11.2%20.8%0.62−37.4%+319%0.40—
26
VEEVVeeva Systems Inc. · Application Software
Same or nearby category−0.1%39.6%0.19−55.7%+715%0.52—
27
RSGRepublic Services, Inc. · Environmental Services
Whole market+13.9%18.5%0.80−34.0%+446%0.23—
28
MCDMcDonald's Corporation · Restaurants
Whole market+2.9%17.9%0.25−36.9%+181%0.14—
29
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.12—
30
ORLYO'Reilly Automotive, Inc. · Specialty Retail
Whole market+15.9%23.4%0.75−42.0%+393%0.01—
31
WPMWheaton Precious Metals Corp. · Metals & Mining
Whole market+27.5%36.9%0.85−46.7%+510%0.15—
32
PTCPTC Inc. · Application Software
Same or nearby category+8.3%35.0%0.40−54.4%+317%0.51—
33
WMWaste Management, Inc. · Environmental Services
Whole market+9.3%19.2%0.56−30.1%+344%0.07—
34
NEENextEra Energy, Inc. · Electric Utilities
Whole market+1.5%26.8%0.19−45.0%+228%-0.12—
35
ETREntergy Corporation · Electric Utilities
Whole market+19.2%22.4%0.90−42.0%+311%-0.14—
36
DUKDuke Energy Corporation · Electric Utilities
Whole market+7.5%18.0%0.50−37.4%+132%-0.09—
37
AEPAmerican Electric Power Company, Inc. · Electric Utilities
Whole market+12.4%20.2%0.68−32.9%+185%-0.18—
38
BBarrick Mining Corporation · Gold Mining
Whole market+18.9%37.3%0.65−53.9%+194%0.13—
39
JAAAJanus Henderson AAA CLO ETF · CLO Bonds
Whole market+5.1%1.7%2.98−2.6%—0.330.20%
40
AJGArthur J. Gallagher & Co. · Insurance
Whole market+10.9%24.2%0.55−44.4%+516%0.31—
41
ICEIntercontinental Exchange, Inc. · Capital Markets
Whole market+5.4%21.8%0.35−34.3%+240%0.52—
42
ECLEcolab Inc. · Specialty Chemicals
Whole market+6.7%24.1%0.39−43.7%+176%0.24—
43
MRSHMarsh & McLennan Companies, Inc. · Insurance
Whole market+4.4%20.9%0.31−35.8%+245%0.29—
44
GRMNGarmin Ltd. · Computer Hardware
Whole market+14.8%31.6%0.59−54.6%+670%0.19—
45
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.14—
46
EXLSExlService Holdings, Inc. · IT Services
Same or nearby category+10.6%32.6%0.47−51.3%+327%0.39—
47
IRMIron Mountain Incorporated · Specialty REITs
Whole market+24.6%30.3%0.88−39.0%+470%0.08—
48
CASYCasey's General Stores, Inc. · Convenience Stores
Whole market+29.9%29.3%1.04−36.1%+537%-0.14—
49
AZOAutoZone, Inc. · Specialty Retail
Whole market+12.3%25.3%0.59−42.1%+323%-0.16—
50
RELXRELX Plc · Business Services
Whole market+7.0%24.1%0.40−49.9%+167%0.38—
51
EFViShares MSCI EAFE Value ETF · International Equity
Whole market+13.6%15.9%0.88−43.2%+157%0.160.31%
52
XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity
Whole market+8.4%15.3%0.60−28.4%+202%0.210.08%
53
AAPLApple Inc. · Computer Hardware
Whole market+18.5%28.0%0.75−38.5%+1,168%0.48—
54
DLRDigital Realty Trust, Inc. · Data Center REITs
Whole market+6.3%29.4%0.35−48.5%+154%0.26—
55
ATOAtmos Energy Corporation · Gas Utilities
Whole market+14.9%18.4%0.85−32.9%+194%0.03—
56
FNVFranco-Nevada Corporation · Gold Mining
Whole market+12.5%31.3%0.53−37.1%+303%0.04—
57
BUGGlobal X - Cybersecurity ETF · Technology
Whole market+7.1%30.4%0.38−41.7%—0.630.50%
58
APDAir Products and Chemicals, Inc. · Chemicals
Whole market+3.2%26.4%0.25−31.8%+188%0.02—
59
GOOGAlphabet Inc. · Internet Services
Whole market+19.0%32.0%0.71−44.6%+752%0.17—
60
BCHBanco de Chile · Banks
Whole market+25.2%28.2%0.94−58.4%+180%0.03—
61
XELXcel Energy Inc. · Electric Utilities
Whole market+6.5%20.9%0.41−34.4%+156%-0.10—
62
KRThe Kroger Co. · Grocery Stores
Whole market+12.3%27.3%0.56−43.8%+151%0.07—
63
EXCExelon Corporation · Electric Utilities
Whole market+7.1%20.9%0.43−40.0%+159%-0.09—
64
FERFerrovial N.V. · Infrastructure
Whole market+13.4%31.3%0.56−38.9%+173%-0.06—
65
SLViShares Silver Trust · Silver
Whole market+18.3%37.5%0.64−52.4%+213%0.030.50%
66
WCNWaste Connections, Inc. · Environmental Services
Whole market+6.1%20.0%0.40−31.6%+270%0.21—
67
HDViShares Core High Dividend ETF · US Dividend Equity
Whole market+12.9%13.0%1.00−37.0%+172%0.090.08%
68
NINiSource Inc · Gas Utilities
Whole market+15.1%20.3%0.80−30.9%+158%-0.16—
69
WECWEC Energy Group, Inc. · Electric Utilities
Whole market+7.2%19.0%0.46−32.3%+159%-0.07—
70
FTSFortis Inc. · Electric Utilities
Whole market+8.4%16.4%0.58−34.3%+154%-0.05—
71
AAgilent Technologies, Inc. · Life Sciences Tools
Whole market+2.6%30.6%0.24−43.2%+306%0.40—
72
WATWaters Corporation · Life Sciences Tools
Whole market+4.5%33.9%0.30−44.3%+182%0.30—
73
USMViShares MSCI USA Min Vol Factor ETF · US Low-Volatility Equity
Whole market+7.6%12.3%0.66−33.1%+176%0.390.15%
74
KDPKeurig Dr Pepper Inc. · Food & Beverages
Whole market+2.5%22.1%0.23−36.9%+281%0.01—
75
AEEAmeren Corporation · Electric Utilities
Whole market+7.9%19.4%0.49−29.1%+192%-0.09—
76
PEGPublic Service Enterprise Group Incorporated · Electric Utilities
Whole market+5.7%20.6%0.38−40.8%+142%-0.12—
77
CINFCincinnati Financial Corporation · Property & Casualty Insurance
Whole market+10.2%25.7%0.51−58.1%+203%-0.05—
78
WTWWillis Towers Watson Public Limited Company · Insurance
Whole market+6.9%23.9%0.40−32.9%+187%0.40—
79
XLUState Street Utilities Select Sector SPDR ETF · Utilities Equity
Whole market+7.8%17.4%0.52−36.0%+138%-0.080.08%
80
SDYState Street SPDR S&P Dividend ETF · US Dividend Equity
Whole market+7.6%14.0%0.59−36.7%+157%0.140.35%
81
RNRRenaissanceRe Holdings Ltd. · Insurance
Whole market+20.1%27.8%0.80−40.7%+215%-0.15—
82
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.5%17.5%0.71−35.0%+302%0.430.03%
83
PBRPetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+50.3%37.5%1.28−75.3%+674%0.00—
84
CHDChurch & Dwight Co., Inc. · Household & Personal Products
Whole market+6.1%21.1%0.39−31.7%+154%0.06—
85
DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity
Whole market+13.1%13.8%0.96−32.5%+206%0.220.35%
86
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.430.03%
87
AMZNAmazon.com, Inc. · E-Commerce
Whole market+9.0%36.6%0.42−56.1%+548%0.41—
88
FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity
Whole market+13.9%14.4%0.98−41.4%+199%0.090.43%
89
LNTAlliant Energy Corporation · Electric Utilities
Whole market+7.3%19.8%0.46−33.5%+150%-0.14—
90
BROBrown & Brown, Inc. · Insurance
Whole market+2.6%26.0%0.23−55.8%+317%0.27—
91
EGEverest Group, Ltd. · Insurance
Whole market+9.4%25.7%0.48−44.2%+155%-0.06—
92
NEUNewMarket Corporation · Specialty Chemicals
Whole market+21.0%26.8%0.85−40.7%+165%0.38—
93
VLOValero Energy Corporation · Oil & Gas
Whole market+44.2%36.9%1.18−71.9%+1,061%0.06—
94
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.09—
95
FNDESchwab Fundamental Emerging Markets Large Company Index ETF · Emerging Markets Equity
Whole market+9.8%17.0%0.64−39.9%+151%0.160.39%
96
MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity
Whole market+9.1%18.4%0.57−33.3%+276%0.450.46%
97
RBARB Global, Inc. · Auction Services
Whole market+5.7%30.7%0.34−39.0%+176%-0.07—
98
ESEESCO Technologies Inc. · Electronic Instruments
Whole market+24.2%31.1%0.85−46.0%+473%-0.14—
99
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance
Whole market+14.4%22.9%0.70−40.1%+291%-0.02—
100
SKMSK Telecom Co.,Ltd · Telecommunications
Whole market+8.8%30.0%0.43−46.0%+152%0.09—

WDAY against its popular alternatives

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

How do WDAY'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 WDAY, which divides the map into what did better or worse on each measure.

Green points earned more than WDAY with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%−40.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityWDAY: −5.9% a year, volatility 41.7%SPY (S&P 500): 12.7% a year, volatility 17.1%ADP: 9.0% a year, volatility 22.9%TEAM: −11.6% a year, volatility 63.9%PAYC: −12.1% a year, volatility 46.3%ACN: −5.2% a year, volatility 32.7%MSFT: 12.5% a year, volatility 28.2%CRM: −3.2% a year, volatility 39.4%SAP: 11.5% a year, volatility 30.0%PAYX: 1.5% a year, volatility 25.0%IBM: 16.6% a year, volatility 30.5%FRSH: −20.0% a year, volatility 58.0%ASAN: −39.3% a year, volatility 79.3%BILL: −30.2% a year, volatility 69.7%MNDY: −22.8% a year, volatility 71.0%NOW: 1.9% a year, volatility 45.5%SNOW: −0.9% a year, volatility 62.6%ORCL: 7.7% a year, volatility 44.3%PCTY: −10.1% a year, volatility 41.1%INTU: −9.4% a year, volatility 39.1%INFY: −9.6% a year, volatility 29.8%WIT: −14.8% a year, volatility 33.2%WDAYSPY (S&P 500)ADPTEAMPAYCACNMSFTCRMPAYXIBMFRSHASANBILLMNDYNOWSNOWORCLPCTYINTUINFYWIT0.0%20.0%40.0%60.0%80.0%−40.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityWDAY: −5.9% a year, volatility 41.7%SPY (S&P 500): 12.7% a year, volatility 17.1%ADP: 9.0% a year, volatility 22.9%TEAM: −11.6% a year, volatility 63.9%PAYC: −12.1% a year, volatility 46.3%ACN: −5.2% a year, volatility 32.7%MSFT: 12.5% a year, volatility 28.2%CRM: −3.2% a year, volatility 39.4%SAP: 11.5% a year, volatility 30.0%PAYX: 1.5% a year, volatility 25.0%IBM: 16.6% a year, volatility 30.5%FRSH: −20.0% a year, volatility 58.0%ASAN: −39.3% a year, volatility 79.3%BILL: −30.2% a year, volatility 69.7%MNDY: −22.8% a year, volatility 71.0%NOW: 1.9% a year, volatility 45.5%SNOW: −0.9% a year, volatility 62.6%ORCL: 7.7% a year, volatility 44.3%PCTY: −10.1% a year, volatility 41.1%INTU: −9.4% a year, volatility 39.1%INFY: −9.6% a year, volatility 29.8%WIT: −14.8% a year, volatility 33.2%WDAYSPY (S&P 500)ADPTEAMPAYCACNCRMPAYXIBMFRSHASANBILLMNDYNOWSNOWORCLPCTYINTUINFYWIT
All figures
InvestmentAnnual returnVolatility
IBM International Business Machines Corporation+16.6%30.5%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
MSFT Microsoft Corporation+12.5%28.2%
SAP SAP SE+11.5%30.0%
ADP Automatic Data Processing, Inc.+9.0%22.9%
ORCL Oracle Corporation+7.7%44.3%
NOW ServiceNow, Inc.+1.9%45.5%
PAYX Paychex, Inc.+1.5%25.0%
SNOW Snowflake Inc.−0.9%62.6%
CRM Salesforce, Inc.−3.2%39.4%
ACN Accenture plc−5.2%32.7%
WDAY This pageWorkday, Inc.−5.9%41.7%
INTU Intuit Inc.−9.4%39.1%
INFY Infosys Limited−9.6%29.8%
PCTY Paylocity Holding Corporation−10.1%41.1%
TEAM Atlassian Corporation−11.6%63.9%
PAYC Paycom Software, Inc.−12.1%46.3%
WIT Wipro Limited−14.8%33.2%
FRSH Freshworks Inc.−20.0%58.0%
MNDY monday.com Ltd.−22.8%71.0%
BILL Bill.com Holdings, Inc.−30.2%69.7%
ASAN Asana, Inc.−39.3%79.3%
Open these 22 in EasyCompare

Has WDAY consistently beaten its popular alternatives?

This section compares WDAY 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 WDAY helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than WDAY 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.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
WDAY Workday, Inc. (this page)—+6.3%+38.6%+59.4%−0.9%−15.4%−3.4%−26.4%+132%41.7%0.06−63.4%—$49B—
NOW QualifiedServiceNow, Inc.3/5 short3/3 long+8.6%+42.8%+50.0%+1.4%−18.5%+37.8%+9.8%+848%45.5%0.27−64.5%—$155B—
ADP QualifiedAutomatic Data Processing, Inc.3/5 short3/3 long+8.5%+15.4%+46.7%+18.4%+6.4%+30.2%+53.6%+320%22.9%0.49−40.8%—$116B—
TEAM QualifiedAtlassian Corporation5/5 short2/3 long+13.0%+129%+209%+42.9%+39.2%+18.2%−46.0%+670%63.9%0.12−87.5%—$56B—
PAYC QualifiedPaycom Software, Inc.5/5 short2/3 long+15.9%+75.5%+98.1%+73.3%+31.7%+3.8%−47.4%+453%46.3%-0.04−79.0%—$12B—
ACN QualifiedAccenture plc3/5 short2/3 long+29.5%+66.5%+25.1%−4.8%+2.2%−13.6%−23.6%+146%32.7%0.00−67.8%—$146B—
SNOW QualifiedSnowflake Inc.3/5 short2/3 long−5.8%+16.5%+112%+47.5%+30.1%+116%−4.3%—62.6%0.29−73.0%—$113B—
MSFT Software - InfrastructureMicrosoft Corporation2/5 short3/3 long+6.0%+32.5%+27.7%+13.2%+3.8%+66.6%+80.3%+946%28.2%0.56−37.1%—$3.9T—
CRM Software - ApplicationSalesforce, Inc.2/5 short3/3 long+2.5%+39.7%+30.7%−3.8%−3.9%+21.3%−14.8%+240%39.4%0.12−58.7%—$200B—
SAP Software - ApplicationSAP SE2/5 short3/3 long+9.4%+44.6%+29.6%−2.1%−16.6%+81.3%+72.6%+205%30.0%0.52−52.5%—$267B—
PAYX Staffing & Employment ServicesPaychex, Inc.2/5 short3/3 long−2.1%−1.2%+23.8%+7.2%−7.1%+7.5%+7.9%+173%25.0%0.19−45.0%—$40B—
IBM Information Technology ServicesInternational Business Machines Corporation1/5 short3/3 long+4.3%+14.4%−3.3%−15.3%−12.5%+93.5%+116%+151%30.5%0.66−41.1%—$228B—
ORCL Software - InfrastructureOracle Corporation0/5 short3/3 long−11.4%+8.4%−25.6%−32.1%−52.1%+33.3%+45.1%+300%44.3%0.38−64.6%—$396B—
PCTY Software - ApplicationPaylocity Holding Corporation4/5 short1/3 long+17.8%+33.6%+64.9%+16.7%+12.1%−10.2%−41.4%+288%41.1%-0.06−68.9%—$9.0B—
INTU Software - ApplicationIntuit Inc.1/5 short1/3 long+10.8%+14.6%−16.4%−46.0%−48.9%−32.1%−38.8%+237%39.1%-0.06−68.2%—$90B—
FRSH Software - ApplicationFreshworks Inc.4/5 short0/3 long+19.3%+34.4%+69.1%+28.0%+32.4%−19.9%−67.1%—58.0%-0.10−86.3%—$3.9B—
ASAN Software - ApplicationAsana, Inc.3/5 short0/3 long+12.6%+41.3%+70.7%−17.1%−26.5%−41.5%−91.7%—79.3%-0.24−96.2%—$2.5B—
INFY Information Technology ServicesInfosys Limited1/5 short0/3 long+16.3%+11.9%−9.0%−28.7%−22.4%−18.0%−39.8%+110%29.8%-0.19−54.4%—$52B—
WIT Information Technology ServicesWipro Limited1/5 short0/3 long+22.8%+12.0%−3.3%−29.1%−21.5%−6.4%−55.1%+19.9%33.2%-0.32−65.4%—$20B—
BILL Software - ApplicationBill.com Holdings, Inc.1/5 short0/3 long+4.3%+8.7%+23.9%−2.9%−6.5%−51.4%−83.4%—69.7%-0.17−90.7%—$4.2B—
MNDY Software - Applicationmonday.com Ltd.1/5 short0/3 long+14.7%+31.4%+47.4%−29.7%−45.8%−23.6%−72.6%—71.0%-0.01−86.8%—$4.3B—
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How did WDAY do year by year?

This table shows each investment's total return in every full calendar year since 2013, along with where WDAY ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with WDAY and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: WDAY began trading on December 10, 2012, so the table starts with 2013, its first full calendar year, and cannot show how it fared during the dot-com bust, the 2008 financial crisis or two other sell-offs.

Newest year first. Green marks a year in which the fund came out ahead of WDAY; gray means the two finished within a fraction of a point. The rank row places WDAY among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of WDAY2025202420232022202120202019201820172016201520142013
WDAY This pageWorkday, Inc.—−16.8%−6.5%+65.0%−38.8%+14.0%+45.7%+3.0%+57.0%+53.9%−17.1%−2.4%−1.9%+52.6%
Rank among alternativesTop quarter in 3 of 1310 of 2119 of 214 of 2111 of 2117 of 199 of 1715 of 162 of 165 of 1614 of 1613 of 1510 of 133 of 13
SPY S&P 500State Street SPDR S&P 500 ETF8 of 13+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%
NOW ServiceNow, Inc.10 of 13−27.8%+50.0%+82.0%−40.2%+17.9%+95.0%+58.6%+36.5%+75.4%−14.1%+27.6%+21.2%+86.4%
ADP Automatic Data Processing, Inc.8 of 13−10.2%+28.4%−0.3%−1.3%+42.6%+5.9%+32.7%+14.3%+16.5%+24.3%+4.1%+20.5%+45.6%
TEAM Atlassian Corporation7 of 10−33.4%+2.3%+84.8%−66.3%+63.0%+94.3%+35.2%+95.5%+89.0%−20.0%———
PAYC Paycom Software, Inc.7 of 11−21.7%0.0%−33.1%−25.3%−8.2%+70.8%+116%+52.4%+76.6%+20.9%+42.9%——
ACN Accenture plc7 of 13−22.1%+1.9%+33.6%−34.8%+60.7%+26.0%+51.2%−6.2%+33.3%+14.3%+20.8%+11.4%+26.6%
SNOW Snowflake Inc.2 of 5+42.1%−22.4%+38.6%−57.6%+20.4%————————
MSFT Microsoft Corporation8 of 13+15.6%+12.9%+58.2%−28.0%+52.5%+42.5%+57.6%+20.8%+40.8%+15.1%+22.7%+27.5%+44.3%
CRM Salesforce, Inc.6 of 13−20.2%+27.8%+98.5%−47.8%+14.2%+36.8%+18.7%+34.0%+49.3%−12.7%+32.2%+7.5%+31.3%
SAP SAP SE6 of 13−0.4%+61.3%+52.3%−24.2%+9.2%−1.3%+36.4%−10.0%+31.7%+11.1%+15.3%−18.6%+10.0%
PAYX Paychex, Inc.7 of 13−17.5%+21.3%+6.2%−13.2%+50.1%+13.3%+34.5%−1.1%+15.4%+18.9%+18.4%+5.0%+48.9%
IBM International Business Machines Corporation6 of 13+38.2%+39.3%+21.9%+10.6%+16.6%−1.2%+23.6%−22.6%−4.9%+25.2%−11.4%−12.4%−0.2%
ORCL Oracle Corporation7 of 13+18.1%+60.0%+30.9%−4.7%+36.9%+24.3%+19.4%−3.0%+24.9%+6.9%−17.6%+19.0%+15.7%
PCTY Paylocity Holding Corporation7 of 11−23.5%+21.0%−15.1%−17.7%+14.7%+70.4%+101%+27.7%+57.1%−26.0%+55.3%——
INTU Intuit Inc.7 of 13+6.1%+1.2%+61.8%−39.1%+70.3%+46.1%+34.1%+25.9%+39.2%+20.2%+5.9%+22.1%+29.7%
FRSH Freshworks Inc.0 of 4−24.2%−31.2%+59.7%−44.0%—————————
ASAN Asana, Inc.2 of 5−32.4%+6.6%+38.0%−81.5%+152%————————
INFY Infosys Limited8 of 13−16.4%+23.1%+4.8%−27.3%+51.9%+68.3%+11.8%+21.8%+12.3%−9.6%+9.0%+13.6%+36.3%
WIT Wipro Limited6 of 13−16.6%+27.7%+20.0%−51.9%+73.1%+50.9%−1.7%−5.8%+13.2%−15.2%+3.7%−9.5%+68.0%
BILL Bill.com Holdings, Inc.3 of 6−35.6%+3.8%−25.1%−56.3%+82.5%+259%———————
MNDY monday.com Ltd.1 of 4−37.3%+25.4%+53.9%−60.5%—————————
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Risk and diversification

How WDAY 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 WDAY's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents WDAY's five deepest drawdowns since it began trading in 2012, 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.

Note: WDAY began trading on December 10, 2012, so this list cannot include the dot-com bust, the 2008 financial crisis or two other sell-offs. The crash tests on this page show how older funds and the S&P 500 fared through those years.

Green means WDAY fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringWDAY fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
No named crash−63.4%+38.0%Feb 2024Apr 20262.2 yearsNot yet—
2015 China and oil sell-off−57.6%+3.8%Feb 2014Feb 20162 yearsNov 201721 months
2022 bear market−55.9%−18.4%Nov 2021Nov 202212 monthsFeb 202415 months
Covid crash−49.2%−19.1%Jul 2019Mar 20208 monthsAug 20205 months
Late-2018 sell-off−23.0%−8.0%Sep 2018Oct 20181 monthNov 20181 month

How did WDAY do in stock market crashes?

This section measures how far WDAY, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: WDAY began trading on December 10, 2012, so its row reads "Not yet trading" for the dot-com bust, the 2008 financial crisis or two other sell-offs. The older alternatives and the S&P 500 show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than WDAY.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
WDAY This pageWorkday, Inc.—−2.8%−47.0%−42.4%−17.3%−5.8%−42.3%Not yet tradingNot yet tradingNot yet tradingNot yet trading
SPY S&P 500State Street SPDR S&P 500 ETF3 of 6−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
NOW ServiceNow, Inc.2 of 6−7.2%−39.9%−28.8%−20.6%−8.5%−47.6%————
ADP Automatic Data Processing, Inc.3 of 6−3.3%−19.9%−39.5%−19.2%−8.7%−14.1%−15.8%0.0%−35.7%−53.6%
TEAM Atlassian Corporation1 of 5−12.4%−53.1%−21.4%−30.2%−7.3%—————
PAYC Paycom Software, Inc.1 of 6−5.4%−33.7%−44.9%−29.9%−6.4%−50.8%————
ACN Accenture plc4 of 6−4.7%−37.3%−33.5%−22.6%−4.1%−14.9%−22.7%−1.9%−35.7%—
SNOW Snowflake Inc.0 of 2−7.8%−64.1%————————
MSFT Microsoft Corporation4 of 6−2.0%−31.0%−27.7%−18.2%−7.4%−14.4%−14.1%−2.6%−57.9%−62.9%
CRM Salesforce, Inc.3 of 6−5.3%−42.7%−35.7%−24.8%−6.1%−34.2%−26.9%−4.2%−70.5%—
SAP SAP SE4 of 6−2.0%−41.9%−32.6%−25.0%−6.9%−13.3%−25.0%−1.4%−49.6%−87.9%
PAYX Paychex, Inc.2 of 6−4.3%−22.6%−44.1%−17.4%−7.1%−14.8%−14.6%−1.0%−49.5%−64.9%
IBM International Business Machines Corporation4 of 6−2.0%−16.7%−37.3%−29.1%−6.3%−23.3%−14.6%−1.5%−44.3%−58.3%
ORCL Oracle Corporation3 of 6−5.0%−31.0%−28.3%−17.2%−6.6%−16.1%−23.9%−2.1%−41.1%−84.2%
PCTY Paylocity Holding Corporation1 of 6−6.3%−30.6%−47.6%−33.1%−13.0%−45.6%————
INTU Intuit Inc.3 of 6−6.0%−42.7%−36.3%−20.8%−6.5%−24.8%−18.0%−3.4%−38.3%−66.0%
FRSH Freshworks Inc.0 of 2−11.4%−55.6%————————
ASAN Asana, Inc.0 of 2−9.5%−77.5%————————
INFY Infosys Limited5 of 6−4.9%−35.9%−39.1%−12.7%−3.6%−17.3%−25.9%−0.6%−60.9%−90.0%
WIT Wipro Limited3 of 6−2.6%−52.6%−33.0%−8.6%−6.8%−14.6%−29.6%−1.5%−66.0%—
BILL Bill.com Holdings, Inc.0 of 3−17.5%−62.1%−53.5%———————
MNDY monday.com Ltd.0 of 2−12.9%−68.7%————————
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How closely does WDAY 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 WDAY with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

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 WDAY's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
WDAY This pageWorkday, Inc.96%139%0.701.19
NOW ServiceNow, Inc.114%79%1.450.97
MSFT Microsoft Corporation127%91%1.390.96
ADP Automatic Data Processing, Inc.89%88%1.010.79
TEAM Atlassian Corporation130%132%0.991.03
PAYC Paycom Software, Inc.110%114%0.971.12
PCTY Paylocity Holding Corporation94%106%0.890.88
ORCL Oracle Corporation131%159%0.821.30
CRM Salesforce, Inc.115%143%0.801.16
INTU Intuit Inc.99%126%0.791.03
PAYX Paychex, Inc.87%114%0.770.89
SAP SAP SE112%152%0.741.10
IBM International Business Machines Corporation89%121%0.730.95
INFY Infosys Limited85%126%0.670.90
ACN Accenture plc117%186%0.631.12
WIT Wipro Limited62%122%0.510.82
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What diversifies WDAY?

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 WDAY's. Because such investments tend not to fall at the same time, pairing WDAY with them can reduce a portfolio's overall swings.

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 WDAY lost money. The last two columns show a portfolio that is 80% WDAY and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe20252024202220162015201480/20 mix volatility80/20 mix annual return
WDAY Workday, Inc. (this page)1.00−26.4%0.06−16.8%−6.5%−38.8%−17.1%−2.4%−1.9%38.6%−5.3%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.06+119%1.48+27.1%+15.9%+3.8%———31.1%0.0%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.05+225%1.34+32.8%+29.8%+6.0%+1.1%+7.7%+8.1%31.1%+1.8%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.01+101%1.04+9.7%+33.4%+10.4%+29.8%−25.3%+23.8%31.1%−0.1%
HDV Dividend & IncomeiShares Core High Dividend ETF0.09+83.3%1.00+11.9%+14.1%+7.1%+15.9%−0.3%+12.6%31.3%−0.8%
SMH TechnologyVanEck Semiconductor ETF0.18+323%0.97+49.2%+39.1%−33.5%+35.6%−0.3%+30.2%32.9%+3.9%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.22+85.0%0.96+23.1%+13.4%−5.1%+6.3%+4.1%+3.4%31.4%−0.6%
GLD CommoditiesSPDR Gold Shares0.05+126%0.96+63.7%+26.7%−0.8%+8.0%−10.7%−2.2%31.2%+0.4%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.19+136%0.93+26.6%+45.8%−10.4%+7.4%——31.9%+0.9%

Stocks

InvestmentCorrelation5Y returnSharpe20252024202220162015201480/20 mix volatility80/20 mix annual return
WDAY Workday, Inc. (this page)1.00−26.4%0.06−16.8%−6.5%−38.8%−17.1%−2.4%−1.9%38.6%−5.3%
CAH Medical - DistributionCardinal Health, Inc.0.14+479%1.55+76.3%+19.0%+54.1%−17.5%+12.6%+23.0%32.0%+3.7%
CLS Hardware, Equipment & PartsCelestica Inc.0.10+3,143%1.47+220%+215%+1.3%+7.4%−6.0%+12.9%34.1%+15.0%
FIX Engineering & ConstructionComfort Systems USA, Inc.-0.05+1,636%1.46+121%+107%+17.0%+18.3%+67.7%−10.4%31.8%+12.0%
MCK Medical - DistributionMcKesson Corporation0.01+413%1.44+44.5%+23.7%+51.8%−28.3%−4.5%+29.3%31.3%+3.4%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.16+690%1.41+19.2%−4.0%+86.6%+0.7%+17.4%+0.4%32.6%+5.6%
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Common questions

What was WDAY's worst drawdown?

WDAY's deepest decline since it began trading in 2012 was 63.4%, from February 2024 to April 2026. It has not yet climbed back to that peak. Because WDAY launched in December 2012, that record does not include the dot-com bust, the 2008 financial crisis or two other sell-offs.

What were WDAY's best and worst years?

Over 13 full calendar years, WDAY's best year was 2023, when it returned 65.0%. Its worst was 2022, with a return of -38.7%.

Is there a better investment than WDAY?

Among WDAY's popular alternatives, MSFT, CRM and IBM earned more than WDAY with less volatility over the past 5 years. MSFT returned 12.5% a year at 28.2% volatility, against a loss of 6.0% a year at 41.7%. Looking beyond its popular alternatives, VEEV (application software) and PTC (application software) earned more than WDAY with less volatility over the past 5 years. VEEV returned a loss of 0.1% a year at 39.6% volatility, against a loss of 6.0% a year at 41.7%.

Is WDAY more volatile than the S&P 500?

Yes. WDAY's volatility over the past 5 years was 41.7%, 2.4 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, WDAY's return lands within 41.7% 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 WDAY's Sharpe ratio?

WDAY's Sharpe ratio over the past 5 years was 0.06, against 0.79 for the S&P 500, so WDAY 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 WDAY with the S&P 500?

Over the past 5 years, WDAY's monthly returns had a correlation of 0.43 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against WDAY instead: the lower it is, the more that option would diversify a WDAY holding.

What are the best alternatives to WDAY?

Of the 20 popular alternatives we compared, six outperformed WDAY in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: NOW, ADP and TEAM.

Did WDAY outperform the S&P 500?

WDAY finished ahead of the S&P 500 (SPY) in five of 13 full calendar years. In 2025, it returned -16.8%, against +17.7% for the index.

How did WDAY do in stock market crashes?

WDAY fell less than the S&P 500 (SPY) in three of the six major crashes it has traded through, and further in three. The clearest case was the late-2018 sell-off, when WDAY fell 17.3% and the S&P 500 fell 19.3%.

What diversifies WDAY?

These had a low correlation with WDAY over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.06), DXJ (correlation 0.05) and EMLP (correlation 0.01); among large stocks, CAH (correlation 0.14), CLS (correlation 0.10) and FIX (correlation -0.05). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to WDAY