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Relative Intelligence · Payment Processing

How Block (XYZ) compares with the whole market and its popular alternatives

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

Period covered: XYZ's full trading record, from November 2015 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 XYZ →Chart XYZ vs. 23 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in XYZ over the past 10 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of XYZ over the same span and XYZ'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: XYZ began trading on November 19, 2015, 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 10 years of XYZ's record, starting at the end of September 2016.

Choose a period

From the end of September 2016 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. 272 of the 2,697 stocks and funds worth at least $500 million that traded the whole period ended ahead of XYZ; 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$200,000201620182020202220242026$10,000$20,000$50,000$100,000$200,0002016201920222025
  • SHOP$345,690+3,357% total · +42.5% a year
  • FTNT$241,889+2,319% total · +37.5% a year
  • PANW$149,644+1,396% total · +31.1% a year
  • AAPL$128,826+1,188% total · +29.1% a year
  • MSFT$100,294+903% total · +25.9% a year
  • XYZ$63,061+531% total · +20.2% a year
  • MA$57,471+475% total · +19.1% a year
  • V$46,623+366% total · +16.6% a year
  • SPY (S&P 500)$41,286+313% total · +15.2% a year
  • WEX$15,607+56.1% total · +4.6% a year
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From the end of September 2021 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. 3,431 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of XYZ; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$1,000$2,000$5,000$10,000202120222023202420252026$1,000$2,000$5,000$10,000202120222023202420252026
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • V$16,755+67.5% total · +10.9% a year
  • MA$16,338+63.4% total · +10.3% a year
  • PAY$12,435+24.4% total · +4.5% a year
  • SHOP$10,938+9.4% total · +1.8% a year
  • WEX$9,578−4.2% total · −0.9% a year
  • COIN$8,195−18.1% total · −3.9% a year
  • AFRM$5,811−41.9% total · −10.3% a year
  • TOST$5,804−42.0% total · −10.3% a year
  • XYZ$3,066−69.3% total · −21.1% a year
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XYZ 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: XYZ began trading on November 19, 2015, 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
$47B
Industry
Software - Infrastructure
Price history from
November 2015

Returns

Past 1 year
+2.1%total return
Past 3 years
+77.6%+21.1% a year
Past 5 years
−69.4%−21.1% a year
Past 10 years
+598%+21.5% a year
Best calendar year
+248%2020
Worst calendar year
−61.1%2022
Losing years
3 of 10full calendar years

Risk

Volatility
59.9%typical yearly swing, 5 years
Sharpe ratio
-0.10return per unit of risk, 5 years
Worst decline ever
−86.1%Aug 2021 to Oct 2023
From its all-time high
−72.3%below the peak

XYZ against the whole market

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

How does XYZ rank among all stocks?

This section ranks XYZ 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 XYZ 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.

MeasureXYZRankStanding
1-year return+2.1%1,905 of 3,287bottom 43%
3-year return+77.6%1,156 of 3,017top 38%
5-year return−69.4%2,626 of 2,893bottom 10%
10-year return+598%235 of 2,202top 11%
Volatility, 5 years59.9%2,272 of 2,893bottom 22%
Sharpe ratio, 5 years-0.102,545 of 2,893bottom 13%
Worst decline, past 10 years−86.1%1,815 of 2,187bottom 18%

What has beaten XYZ 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). XYZ sits where the dashed lines cross. Anything in the green box above and to the left earned more than XYZ 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 XYZ; faint dots are 89 more of the 2,981 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.

0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%−40.0%−20.0%0.0%20.0%40.0%60.0%80.0%100%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than XYZCOST: +17.4% a year, volatility 22.9%ASML: +17.4% a year, volatility 43.4%ANET: +49.0% a year, volatility 49.0%MCK: +38.7% a year, volatility 25.0%APH: +33.8% a year, volatility 32.2%STX: +57.4% a year, volatility 48.7%SCCO: +32.0% a year, volatility 40.7%ADI: +19.5% a year, volatility 34.1%ASX: +48.8% a year, volatility 43.0%PGR: +21.3% a year, volatility 25.6%DE: +14.4% a year, volatility 29.9%GWW: +26.3% a year, volatility 24.9%HLT: +21.0% a year, volatility 26.8%CTAS: +16.5% a year, volatility 23.1%RY: +17.3% a year, volatility 18.2%MPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%NVDA: +58.0% a year, volatility 51.9%MSI: +14.8% a year, volatility 23.6%AU: +40.4% a year, volatility 49.9%RACE: +13.3% a year, volatility 30.0%P: +37.3% a year, volatility 55.0%STLD: +32.2% a year, volatility 38.0%TER: +24.0% a year, volatility 54.3%GRMN: +14.8% a year, volatility 31.6%CAH: +42.1% a year, volatility 24.7%KEYS: +13.9% a year, volatility 34.5%UMC: +19.9% a year, volatility 43.2%NTAP: +20.9% a year, volatility 35.3%RS: +24.8% a year, volatility 28.1%COKE: +41.2% a year, volatility 38.0%MPLX: +23.5% a year, volatility 18.8%FRO: +52.6% a year, volatility 49.7%FCNCA: +20.4% a year, volatility 41.4%ONC: +0.6% a year, volatility 54.5%AIT: +28.5% a year, volatility 30.3%MEDP: +27.0% a year, volatility 52.0%VTI: +11.5% a year, volatility 17.5%HALO: +26.6% a year, volatility 40.4%VOO: +12.8% a year, volatility 16.9%MUSA: +26.1% a year, volatility 31.2%AMZN: +9.0% a year, volatility 36.6%ENTG: +2.2% a year, volatility 55.4%WMT: +20.8% a year, volatility 22.6%MATX: +24.9% a year, volatility 39.4%LNTH: +34.0% a year, volatility 56.6%JPM: +17.3% a year, volatility 24.3%GFF: +36.4% a year, volatility 41.7%DHT: +38.7% a year, volatility 39.0%MTRN: +27.9% a year, volatility 46.1%LPG: +54.6% a year, volatility 43.6%JNJ: +12.7% a year, volatility 17.9%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%CSW: +17.1% a year, volatility 34.4%KO: +14.7% a year, volatility 16.8%QQQ: +14.5% a year, volatility 23.0%MUFG: +33.2% a year, volatility 29.4%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%VEEV: −0.1% a year, volatility 39.6%UFPT: +35.8% a year, volatility 46.0%PBR: +50.3% a year, volatility 37.5%SII: +24.9% a year, volatility 39.2%NRP: +37.4% a year, volatility 33.9%INSW: +56.5% a year, volatility 40.5%CWST: +2.8% a year, volatility 28.1%PLPC: +40.5% a year, volatility 48.3%SBLK: +16.5% a year, volatility 41.3%INTC: +12.4% a year, volatility 55.6%XSD: +18.3% a year, volatility 40.8%WELL: +26.0% a year, volatility 23.8%RTX: +18.6% a year, volatility 24.3%PBT: +37.8% a year, volatility 47.2%BBVA: +38.7% a year, volatility 33.3%GILD: +22.8% a year, volatility 24.9%VLO: +44.2% a year, volatility 36.9%VEA: +9.3% a year, volatility 16.9%APPF: +11.3% a year, volatility 44.2%TD: +15.8% a year, volatility 20.0%ARCB: +9.3% a year, volatility 49.5%HCI: +11.7% a year, volatility 42.0%MFG: +33.6% a year, volatility 30.6%PSX: +33.2% a year, volatility 32.9%UBS: +25.4% a year, volatility 30.4%NWPX: +32.5% a year, volatility 36.2%FTXL: +27.4% a year, volatility 38.8%SMFG: +33.7% a year, volatility 29.4%PH: +27.4% a year, volatility 28.8%XYZ: −21.1% a year, volatility 59.9%SPY (S&P 500): +12.7% a year, volatility 17.1%TOST: −8.5% a year, volatility 59.9%PAY: +6.2% a year, volatility 64.4%V: +12.8% a year, volatility 22.9%MA: +12.4% a year, volatility 23.8%WEX: −0.8% a year, volatility 37.2%FOUR: −12.1% a year, volatility 58.2%AAPL: +18.5% a year, volatility 28.0%MSFT: +12.5% a year, volatility 28.2%PANW: +31.9% a year, volatility 43.4%FTNT: +20.7% a year, volatility 44.8%NOW: +1.9% a year, volatility 45.5%DDOG: +10.1% a year, volatility 59.7%TSM: +31.5% a year, volatility 38.5%LLY: +40.7% a year, volatility 32.8%ABBV: +26.1% a year, volatility 23.4%DELL: +55.2% a year, volatility 54.4%VGT: +18.4% a year, volatility 26.0%SMH: +33.4% a year, volatility 36.9%MU: +68.1% a year, volatility 57.1%CTVA: −21.0% a year, volatility 47.6%FIX: +77.0% a year, volatility 46.7%BELFB: +78.0% a year, volatility 52.1%PAYO: −2.9% a year, volatility 55.1%XYZSPY (S&P 500)TOSTPAYWEXFOURAAPLMSFTPANWFTNTNOWDDOGTSMLLYABBVDELLVGTSMHMUCTVAFIXBELFBPAYO0.0%20.0%40.0%60.0%80.0%−40.0%−20.0%0.0%20.0%40.0%60.0%80.0%100%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than XYZCOST: +17.4% a year, volatility 22.9%ASML: +17.4% a year, volatility 43.4%ANET: +49.0% a year, volatility 49.0%MCK: +38.7% a year, volatility 25.0%APH: +33.8% a year, volatility 32.2%STX: +57.4% a year, volatility 48.7%SCCO: +32.0% a year, volatility 40.7%ADI: +19.5% a year, volatility 34.1%ASX: +48.8% a year, volatility 43.0%PGR: +21.3% a year, volatility 25.6%DE: +14.4% a year, volatility 29.9%GWW: +26.3% a year, volatility 24.9%HLT: +21.0% a year, volatility 26.8%CTAS: +16.5% a year, volatility 23.1%RY: +17.3% a year, volatility 18.2%MPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%NVDA: +58.0% a year, volatility 51.9%MSI: +14.8% a year, volatility 23.6%AU: +40.4% a year, volatility 49.9%RACE: +13.3% a year, volatility 30.0%P: +37.3% a year, volatility 55.0%STLD: +32.2% a year, volatility 38.0%TER: +24.0% a year, volatility 54.3%GRMN: +14.8% a year, volatility 31.6%CAH: +42.1% a year, volatility 24.7%KEYS: +13.9% a year, volatility 34.5%UMC: +19.9% a year, volatility 43.2%NTAP: +20.9% a year, volatility 35.3%RS: +24.8% a year, volatility 28.1%COKE: +41.2% a year, volatility 38.0%MPLX: +23.5% a year, volatility 18.8%FRO: +52.6% a year, volatility 49.7%FCNCA: +20.4% a year, volatility 41.4%ONC: +0.6% a year, volatility 54.5%AIT: +28.5% a year, volatility 30.3%MEDP: +27.0% a year, volatility 52.0%VTI: +11.5% a year, volatility 17.5%HALO: +26.6% a year, volatility 40.4%VOO: +12.8% a year, volatility 16.9%MUSA: +26.1% a year, volatility 31.2%AMZN: +9.0% a year, volatility 36.6%ENTG: +2.2% a year, volatility 55.4%WMT: +20.8% a year, volatility 22.6%MATX: +24.9% a year, volatility 39.4%LNTH: +34.0% a year, volatility 56.6%JPM: +17.3% a year, volatility 24.3%GFF: +36.4% a year, volatility 41.7%DHT: +38.7% a year, volatility 39.0%MTRN: +27.9% a year, volatility 46.1%LPG: +54.6% a year, volatility 43.6%JNJ: +12.7% a year, volatility 17.9%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%CSW: +17.1% a year, volatility 34.4%KO: +14.7% a year, volatility 16.8%QQQ: +14.5% a year, volatility 23.0%MUFG: +33.2% a year, volatility 29.4%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%VEEV: −0.1% a year, volatility 39.6%UFPT: +35.8% a year, volatility 46.0%PBR: +50.3% a year, volatility 37.5%SII: +24.9% a year, volatility 39.2%NRP: +37.4% a year, volatility 33.9%INSW: +56.5% a year, volatility 40.5%CWST: +2.8% a year, volatility 28.1%PLPC: +40.5% a year, volatility 48.3%SBLK: +16.5% a year, volatility 41.3%INTC: +12.4% a year, volatility 55.6%XSD: +18.3% a year, volatility 40.8%WELL: +26.0% a year, volatility 23.8%RTX: +18.6% a year, volatility 24.3%PBT: +37.8% a year, volatility 47.2%BBVA: +38.7% a year, volatility 33.3%GILD: +22.8% a year, volatility 24.9%VLO: +44.2% a year, volatility 36.9%VEA: +9.3% a year, volatility 16.9%APPF: +11.3% a year, volatility 44.2%TD: +15.8% a year, volatility 20.0%ARCB: +9.3% a year, volatility 49.5%HCI: +11.7% a year, volatility 42.0%MFG: +33.6% a year, volatility 30.6%PSX: +33.2% a year, volatility 32.9%UBS: +25.4% a year, volatility 30.4%NWPX: +32.5% a year, volatility 36.2%FTXL: +27.4% a year, volatility 38.8%SMFG: +33.7% a year, volatility 29.4%PH: +27.4% a year, volatility 28.8%XYZ: −21.1% a year, volatility 59.9%SPY (S&P 500): +12.7% a year, volatility 17.1%TOST: −8.5% a year, volatility 59.9%PAY: +6.2% a year, volatility 64.4%V: +12.8% a year, volatility 22.9%MA: +12.4% a year, volatility 23.8%WEX: −0.8% a year, volatility 37.2%FOUR: −12.1% a year, volatility 58.2%AAPL: +18.5% a year, volatility 28.0%MSFT: +12.5% a year, volatility 28.2%PANW: +31.9% a year, volatility 43.4%FTNT: +20.7% a year, volatility 44.8%NOW: +1.9% a year, volatility 45.5%DDOG: +10.1% a year, volatility 59.7%TSM: +31.5% a year, volatility 38.5%LLY: +40.7% a year, volatility 32.8%ABBV: +26.1% a year, volatility 23.4%DELL: +55.2% a year, volatility 54.4%VGT: +18.4% a year, volatility 26.0%SMH: +33.4% a year, volatility 36.9%MU: +68.1% a year, volatility 57.1%CTVA: −21.0% a year, volatility 47.6%FIX: +77.0% a year, volatility 46.7%BELFB: +78.0% a year, volatility 52.1%PAYO: −2.9% a year, volatility 55.1%XYZSPY (S&P 500)TOSTPAYWEXFOURPANWFTNTNOWDDOGTSMLLYABBVDELLSMHMUCTVAFIX
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than XYZ?

Investments that beat XYZ 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 XYZ 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 XYZ'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 XYZ 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 XYZ'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× XYZ's volatility counts as better.

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

Screen the whole market against XYZ 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 XYZ?lower diversifies moreExpenseper year
XYZBlock, Inc. · this page
−21.1%59.9%-0.10−86.1%+598%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.710.09%
Popular alternativesbest 6 shownThe investments people most often weigh against XYZ. 16 of 22 passed at least one test.
TOSTToast, Inc. · Application Software
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods−8.5%59.9%0.15−80.6%—0.57—
PAYPaymentus Holdings, Inc. · Software
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+6.2%64.4%0.41−80.8%—0.33—
VVisa Inc. · Payment Processing
Higher return, lower volatilityHigher Sharpe, smaller worst decline+12.8%22.9%0.64−36.4%+429%0.43—
MAMastercard Incorporated · Payment Processing
Higher return, lower volatilityHigher Sharpe, smaller worst decline+12.4%23.8%0.61−41.0%+541%0.39—
WEXWEX Inc. · Payment Processing
Higher return, lower volatilityHigher Sharpe, smaller worst decline−0.8%37.2%0.17−64.6%+74.9%0.38—
FOURShift4 Payments, Inc. · Payment Processing
Higher return, similar volatilityHigher Sharpe, smaller worst decline−12.1%58.2%0.07−71.7%—0.57—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Payment Processing and the categories next to it (Application Software, Software, Consumer Finance, Financial Technology), plus XYZ's specific themes. 82 of 93 passed at least one test.
AAPLApple Inc. · Computer Hardware · Digital Payments theme
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+18.5%28.0%0.75−38.5%+1,168%0.39—
MSFTMicrosoft Corporation · Software
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+12.5%28.2%0.56−37.1%+946%0.42—
PANWPalo Alto Networks, Inc. · Cybersecurity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+31.9%43.4%0.86−48.0%+1,274%0.29—
FTNTFortinet, Inc. · Cybersecurity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+20.7%44.8%0.65−38.3%+2,626%0.29—
NOWServiceNow, Inc. · Enterprise Software
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+1.9%45.5%0.27−64.5%+848%0.38—
DDOGDatadog, Inc. · Application Software
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+10.1%59.7%0.45−68.1%—0.49—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 3,149 of 3,518 passed at least one test.
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+31.5%38.5%0.91−56.6%+1,505%0.46—
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%-0.05—
ABBVAbbVie Inc. · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+26.1%23.4%1.11−45.1%+603%-0.02—
DELLDell Technologies Inc. · Computer Hardware
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+55.2%54.4%1.08−59.6%+3,701%0.22—
VGTVanguard Information Technology ETF · Technology Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+18.4%26.0%0.78−35.1%+779%0.630.09%
SMHVanEck Semiconductor ETF · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+33.4%36.9%0.97−45.3%+1,665%0.540.35%
MUMicron Technology, Inc. · Semiconductors
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+68.1%57.1%1.20−57.6%+5,243%0.26—
CTVACorteva, Inc. · Chemicals
Similar return, lower volatility−21.0%47.6%0.04−87.1%—0.21—
What these numbers mean for XYZ
Annual return
XYZ lost 21.1% 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 $3,060. 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
XYZ's volatility over the past 5 years was 59.9%, 3.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, XYZ's return lands within 59.9% 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
XYZ's Sharpe ratio over the past 5 years was -0.10, against 0.79 for the S&P 500, so XYZ 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
XYZ's worst fall from a peak to a low over the past 10 years was 86.1%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 86.1% fall takes a 618% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, XYZ's monthly returns had a correlation of 0.71 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 XYZ instead: the lower it is, the more that option would diversify a XYZ holding. Guide: Correlation and diversification →
Show all 2,981 stocks and funds worth at least $500 million that earned more than XYZ 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 XYZExpense
1
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Whole market+31.5%38.5%0.91−56.6%+1,505%0.46—
2
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%-0.05—
3
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%-0.02—
4
DELLDell Technologies Inc. · Computer Hardware
Whole market+55.2%54.4%1.08−59.6%+3,701%0.22—
5
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.42—
6
ASMLASML Holding N.V. · Semiconductor Equipment
Whole market+17.4%43.4%0.59−56.9%+1,628%0.41—
7
ANETArista Networks, Inc. · Communications Equipment
Whole market+49.0%49.0%1.06−52.2%+3,439%0.34—
8
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.00—
9
APHAmphenol Corporation · Electronic Components
Whole market+33.8%32.2%1.07−37.5%+965%0.52—
10
STXSeagate Technology Holdings plc · Computer Hardware
Whole market+57.4%48.7%1.18−57.0%+2,698%0.31—
11
SCCOSouthern Copper Corporation · Metals & Mining
Whole market+32.0%40.7%0.89−55.3%+1,017%0.33—
12
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.630.09%
13
ADIAnalog Devices, Inc. · Semiconductors
Whole market+19.5%34.1%0.69−33.6%+652%0.42—
14
ASXASE Technology Holding Co., Ltd. · Semiconductors
Whole market+48.8%43.0%1.15−52.5%+967%0.41—
15
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%-0.07—
16
DEDeere & Company · Industrial Machinery
Whole market+14.4%29.9%0.60−37.9%+755%0.38—
17
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.44—
18
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+21.0%26.8%0.85−50.8%+694%0.57—
19
SMHVanEck Semiconductor ETF · Semiconductors
Whole market+33.4%36.9%0.97−45.3%+1,665%0.540.35%
20
CTASCintas Corporation · Business Services
Whole market+16.5%23.1%0.78−48.4%+808%0.43—
21
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.52—
22
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%0.17—
23
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+51.8%37.5%1.31−71.7%+768%0.12—
24
NVDANVIDIA Corporation · Semiconductors
Whole market+58.0%51.9%1.14−66.3%+13,019%0.49—
25
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+14.8%23.6%0.71−32.8%+625%0.46—
26
AAPLApple Inc. · Computer Hardware · Digital Payments theme
Same or nearby category+18.5%28.0%0.75−38.5%+1,168%0.39—
27
AUAngloGold Ashanti Plc · Gold Mining
Whole market+40.4%49.9%0.93−66.3%+681%0.17—
28
RACEFerrari N.V. · Automobiles
Whole market+13.3%30.0%0.57−39.2%+711%0.45—
29
PEverpure, Inc. · Computer Hardware
Whole market+37.3%55.0%0.85−69.4%+899%0.30—
30
STLDSteel Dynamics, Inc. · Metals & Mining
Whole market+32.2%38.0%0.93−68.5%+1,018%0.51—
31
TERTeradyne, Inc. · Semiconductor Equipment
Whole market+24.0%54.3%0.67−59.1%+1,565%0.41—
32
MSFTMicrosoft Corporation · Software
Same or nearby category+12.5%28.2%0.56−37.1%+946%0.42—
33
GRMNGarmin Ltd. · Computer Hardware
Whole market+14.8%31.6%0.59−54.6%+670%0.47—
34
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.24—
35
KEYSKeysight Technologies, Inc. · Electronic Equipment
Whole market+13.9%34.5%0.55−42.6%+923%0.48—
36
UMCUnited Microelectronics Corporation · Semiconductors
Whole market+19.9%43.2%0.63−54.3%+1,610%0.22—
37
NTAPNetApp, Inc. · Computer Hardware
Whole market+20.9%35.3%0.71−58.1%+691%0.47—
38
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.93−40.8%+626%0.44—
39
COKECoca-Cola Consolidated, Inc. · Food & Beverages
Whole market+41.2%38.0%1.10−51.7%+1,569%0.08—
40
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.34—
41
PANWPalo Alto Networks, Inc. · Cybersecurity
Same or nearby category+31.9%43.4%0.86−48.0%+1,274%0.29—
42
FROFrontline Plc · Oil & Gas
Whole market+52.6%49.7%1.10−52.0%+1,194%0.07—
43
FCNCAFirst Citizens BancShares, Inc. · Regional Banks
Whole market+20.4%41.4%0.64−47.5%+662%0.24—
44
ONCBeOne Medicines AG · Biotechnology
Whole market+0.6%54.5%0.28−70.0%+1,066%0.23—
45
AITApplied Industrial Technologies, Inc. · Industrial Distribution
Whole market+28.5%30.3%0.98−59.3%+742%0.45—
46
MEDPMedpace Holdings, Inc. · Contract Research
Whole market+27.0%52.0%0.70−42.9%+1,914%0.39—
47
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.5%17.5%0.71−35.0%+302%0.740.03%
48
HALOHalozyme Therapeutics, Inc. · Biotechnology
Whole market+26.6%40.4%0.79−49.1%+1,196%0.26—
49
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.710.03%
50
MUSAMurphy USA Inc. · Convenience Stores
Whole market+26.1%31.2%0.90−35.5%+706%0.03—
51
AMZNAmazon.com, Inc. · E-Commerce
Whole market+9.0%36.6%0.42−56.1%+548%0.60—
52
ENTGEntegris, Inc. · Semiconductor Equipment
Whole market+2.2%55.4%0.32−59.3%+823%0.42—
53
FTNTFortinet, Inc. · Cybersecurity
Same or nearby category+20.7%44.8%0.65−38.3%+2,626%0.29—
54
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.24—
55
MATXMatson, Inc. · Freight & Logistics
Whole market+24.9%39.4%0.76−53.6%+594%0.37—
56
LNTHLantheus Holdings, Inc. · Pharmaceuticals
Whole market+34.0%56.6%0.80−68.5%+985%0.09—
57
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+537%0.63—
58
GFFGriffon Corporation · Building Products
Whole market+36.4%41.7%0.95−61.3%+761%0.41—
59
DHTDHT Holdings, Inc. · Marine Shipping
Whole market+38.7%39.0%1.04−39.7%+1,050%0.06—
60
NOWServiceNow, Inc. · Enterprise Software
Same or nearby category+1.9%45.5%0.27−64.5%+848%0.38—
61
MTRNMaterion Corporation · Specialty Materials
Whole market+27.9%46.1%0.76−62.0%+764%0.38—
62
LPGDorian LPG Ltd. · Oil & Gas Midstream
Whole market+54.6%43.6%1.22−62.9%+1,821%0.30—
63
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%0.00—
64
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.330.48%
65
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.410.40%
66
CSWCSW Industrials, Inc. · Industrial Products
Whole market+17.1%34.4%0.63−46.2%+867%0.45—
67
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.06—
68
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.5%23.0%0.71−35.1%+553%0.650.18%
69
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.2%29.4%1.13−54.9%+483%0.24—
70
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.03—
71
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.26—
72
VEEVVeeva Systems Inc. · Application Software
Same or nearby category−0.1%39.6%0.19−55.7%+715%0.28—
73
UFPTUFP Technologies, Inc. · Medical - Devices
Whole market+35.8%46.0%0.90−48.3%+1,006%0.21—
74
PBRPetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+50.3%37.5%1.28−75.3%+674%0.07—
75
SIISprott Inc. · Asset Management
Whole market+24.9%39.2%0.76−49.2%+786%0.29—
76
NRPNatural Resource Partners L.P. · Coal
Whole market+37.4%33.9%1.11−78.8%+632%0.19—
77
INSWInternational Seaways, Inc. · Oil & Gas
Whole market+56.5%40.5%1.31−57.4%—0.02—
78
CWSTCasella Waste Systems, Inc. · Environmental Services
Whole market+2.8%28.1%0.24−37.7%+740%0.29—
79
PLPCPreformed Line Products Company · Electrical Equipment & Parts
Whole market+40.5%48.3%0.94−59.5%+827%0.18—
80
SBLKStar Bulk Carriers Corp. · Marine Shipping
Whole market+16.5%41.3%0.58−73.8%+1,037%0.26—
81
INTCIntel Corp. · Semiconductors
Whole market+12.4%55.6%0.49−70.8%+219%0.23—
82
XSDState Street SPDR S&P Semiconductor ETF · Technology
Whole market+18.3%40.8%0.62−42.3%+857%0.590.35%
83
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.32—
84
RTXRTX Corporation · Aerospace & Defense
Whole market+18.6%24.3%0.83−52.0%+317%0.09—
85
PBTPermian Basin Royalty Trust · Oil & Gas Midstream
Whole market+37.8%47.2%0.92−74.0%+717%-0.01—
86
BBVABanco Bilbao Vizcaya Argentaria, S.A. · Banks
Whole market+38.7%33.3%1.16−69.6%+542%0.32—
87
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%-0.05—
88
VLOValero Energy Corporation · Oil & Gas
Whole market+44.2%36.9%1.18−71.9%+1,061%0.17—
89
VEAVanguard FTSE Developed Markets ETF · Developed International Equity
Whole market+9.3%16.9%0.61−35.8%+153%0.600.03%
90
APPFAppFolio Inc. · Application Software
Same or nearby category+11.3%44.2%0.46−55.4%+1,072%0.28—
91
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.46—
92
ARCBArcBest Corp · Trucking
Whole market+9.3%49.5%0.43−67.8%+633%0.49—
93
HCIHCI Group, Inc. · Insurance - Property & Casualty
Whole market+11.7%42.0%0.47−78.8%+829%0.55—
94
MFGMizuho Financial Group, Inc. · Banks
Whole market+33.6%30.6%1.10−45.7%+345%0.27—
95
PSXPhillips 66 · Oil & Gas
Whole market+33.2%32.9%1.04−64.2%+430%0.22—
96
UBSUBS Group AG · Banks
Whole market+25.4%30.4%0.90−59.8%+374%0.46—
97
NWPXNWPX Infrastructure, Inc. · Construction Materials
Whole market+32.5%36.2%0.96−46.5%+682%0.31—
98
FTXLFirst Trust Nasdaq Semiconductor ETF · Technology
Whole market+27.4%38.8%0.82−43.9%+1,077%0.500.60%
99
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+33.7%29.4%1.14−47.6%+474%0.17—
100
PHParker-Hannifin Corporation · Industrial Machinery
Whole market+27.4%28.8%0.99−54.7%+789%0.60—

XYZ against its popular alternatives

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

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

Green points earned more than XYZ 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%90.0%100.0%−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 volatilityXYZ: −21.1% a year, volatility 59.9%SPY (S&P 500): 12.7% a year, volatility 17.1%RELY: −6.6% a year, volatility 57.8%MA: 12.4% a year, volatility 23.8%V: 12.8% a year, volatility 22.9%PAYO: −2.9% a year, volatility 55.1%WEX: −0.8% a year, volatility 37.2%INTU: −9.4% a year, volatility 39.1%GPN: −11.2% a year, volatility 36.9%FISV: −15.2% a year, volatility 36.7%FIS: −19.7% a year, volatility 33.9%FOUR: −12.1% a year, volatility 58.2%EEFT: −12.9% a year, volatility 35.7%SHOP: 3.1% a year, volatility 66.9%PAY: 6.2% a year, volatility 64.4%TOST: −8.5% a year, volatility 59.9%AFRM: −12.9% a year, volatility 91.6%COIN: −11.5% a year, volatility 86.9%HOOD: 18.6% a year, volatility 68.6%SOFI: −7.0% a year, volatility 65.7%PAGS: −19.8% a year, volatility 60.6%STNE: −18.0% a year, volatility 65.1%PYPL: −25.9% a year, volatility 43.3%DLO: −21.1% a year, volatility 70.3%XYZSPY (S&P 500)RELYPAYOWEXINTUGPNFISVFISFOUREEFTSHOPPAYTOSTAFRMCOINHOODSOFIPAGSSTNEPYPLDLO0.0%20.0%40.0%60.0%80.0%100%−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 volatilityXYZ: −21.1% a year, volatility 59.9%SPY (S&P 500): 12.7% a year, volatility 17.1%RELY: −6.6% a year, volatility 57.8%MA: 12.4% a year, volatility 23.8%V: 12.8% a year, volatility 22.9%PAYO: −2.9% a year, volatility 55.1%WEX: −0.8% a year, volatility 37.2%INTU: −9.4% a year, volatility 39.1%GPN: −11.2% a year, volatility 36.9%FISV: −15.2% a year, volatility 36.7%FIS: −19.7% a year, volatility 33.9%FOUR: −12.1% a year, volatility 58.2%EEFT: −12.9% a year, volatility 35.7%SHOP: 3.1% a year, volatility 66.9%PAY: 6.2% a year, volatility 64.4%TOST: −8.5% a year, volatility 59.9%AFRM: −12.9% a year, volatility 91.6%COIN: −11.5% a year, volatility 86.9%HOOD: 18.6% a year, volatility 68.6%SOFI: −7.0% a year, volatility 65.7%PAGS: −19.8% a year, volatility 60.6%STNE: −18.0% a year, volatility 65.1%PYPL: −25.9% a year, volatility 43.3%DLO: −21.1% a year, volatility 70.3%XYZSPY (S&P 500)RELYPAYOWEXINTUGPNFISVFISFOUREEFTSHOPPAYAFRMCOINHOODPAGSSTNEPYPLDLO
All figures
InvestmentAnnual returnVolatility
HOOD Robinhood Markets, Inc.+18.6%68.6%
V Visa Inc.+12.8%22.9%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
MA Mastercard Incorporated+12.4%23.8%
PAY Paymentus Holdings, Inc.+6.2%64.4%
SHOP Shopify Inc.+3.1%66.9%
WEX WEX Inc.−0.8%37.2%
PAYO Payoneer Global Inc.−2.9%55.1%
RELY Remitly Global, Inc.−6.6%57.8%
SOFI SoFi Technologies, Inc.−7.0%65.7%
TOST Toast, Inc.−8.5%59.9%
INTU Intuit Inc.−9.4%39.1%
GPN Global Payments Inc.−11.2%36.9%
COIN Coinbase Global, Inc.−11.5%86.9%
FOUR Shift4 Payments, Inc.−12.1%58.2%
EEFT Euronet Worldwide, Inc.−12.9%35.7%
AFRM Affirm Holdings, Inc.−12.9%91.6%
FISV Fiserv, Inc.−15.2%36.7%
STNE StoneCo Ltd.−18.0%65.1%
FIS Fidelity National Information Services, Inc.−19.7%33.9%
PAGS PagSeguro Digital Ltd.−19.8%60.6%
DLO Dlocal Limited−21.1%70.3%
XYZ This pageBlock, Inc.−21.1%59.9%
PYPL PayPal Holdings, Inc.−25.9%43.3%
Open these 24 in EasyCompare

Has XYZ consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than XYZ 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
XYZ Block, Inc. (this page)—+0.3%−1.5%+5.7%+19.9%+2.1%+77.6%−69.4%+598%59.9%-0.10−86.1%—$47B—
SHOP QualifiedShopify Inc.4/5 short3/3 longAll-weather+25.8%+39.4%+28.4%+10.4%+5.3%+239%+16.6%+3,916%66.9%0.38−84.8%—$225B—
PAY QualifiedPaymentus Holdings, Inc.3/5 short2/3 long−4.5%+11.1%+13.8%+15.8%+12.0%+122%+35.0%—64.4%0.41−80.8%—$4.2B—
TOST QualifiedToast, Inc.3/5 short2/3 long+9.6%+5.8%+11.9%−4.0%−13.3%+85.7%−35.9%—59.9%0.15−80.6%—$17B—
AFRM Financial - Credit ServicesAffirm Holdings, Inc.2/5 short2/3 long+3.9%−2.0%+10.1%−0.2%+2.5%+305%−50.0%—91.6%0.30−94.7%—$22B—
COIN Financial - Data & Stock ExchangesCoinbase Global, Inc.1/5 short2/3 long−15.0%+6.5%−19.3%−27.8%−50.3%+129%−45.7%—86.9%0.29−90.9%—$45B—
HOOD Financial - Capital MarketsRobinhood Markets, Inc.1/5 short2/3 long−20.3%−1.1%+7.6%−14.8%−27.7%+976%+135%—68.6%0.59−90.2%—$78B—
SOFI Financial - Credit ServicesSoFi Technologies, Inc.0/5 short2/3 long−13.5%−13.7%−24.7%−46.5%−48.8%+99.2%−30.3%—65.7%0.21−83.3%—$19B—
PAGS Specialty Business ServicesPagSeguro Digital Ltd.5/5 short1/3 long+23.8%+29.9%+9.2%+29.2%+38.4%+73.1%−66.9%—60.6%-0.07−90.0%—$3.2B—
RELY Software - InfrastructureRemitly Global, Inc.5/5 short1/3 long+13.5%+2.7%+18.8%+85.4%+52.9%−6.6%−28.9%—57.8%0.17−85.8%—$5.2B—
MA Financial - Credit ServicesMastercard Incorporated4/5 short1/3 long+9.5%+13.5%+20.5%+10.9%+10.3%+64.3%+79.2%+541%23.8%0.61−41.0%—$543B—
V Financial - Credit ServicesVisa Inc.4/5 short1/3 long+9.9%+13.0%+30.0%+18.0%+19.0%+78.2%+82.5%+429%22.9%0.64−36.4%—$759B—
PAYO Software - InfrastructurePayoneer Global Inc.4/5 short1/3 long+0.3%0.0%+37.1%+31.1%+19.6%+23.6%−13.5%—55.1%0.22−76.0%—$2.4B—
WEX Software - InfrastructureWEX Inc.3/5 short1/3 long−1.2%+13.2%+4.5%+24.8%+21.1%−1.4%−3.9%+74.9%37.2%0.17−64.6%—$6.3B—
INTU Software - ApplicationIntuit Inc.2/5 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—
GPN Financial - Credit ServicesGlobal Payments Inc.2/5 short1/3 long−0.6%+3.3%+17.2%+13.4%−1.3%−21.1%−44.7%+22.4%36.9%-0.14−70.2%—$22B—
STNE Software - InfrastructureStoneCo Ltd.2/5 short1/3 long+24.3%+8.5%−5.1%−0.6%−21.7%+46.8%−63.0%—65.1%0.02−92.3%—$2.8B—
FISV Information Technology ServicesFiserv, Inc.1/5 short1/3 long+3.8%−6.6%−24.8%−26.4%−61.1%−56.3%−56.2%−2.7%36.7%-0.24−81.3%—$26B—
FIS Information Technology ServicesFidelity National Information Services, Inc.1/5 short1/3 long+3.5%−12.8%−22.9%−42.7%−44.3%−21.6%−66.6%−41.3%33.9%-0.47−76.0%—$19B—
FOUR Software - InfrastructureShift4 Payments, Inc.1/5 short1/3 long+2.8%−20.5%−18.0%−35.4%−46.7%−20.1%−47.4%—58.2%0.07−71.7%—$4.2B—
EEFT Software - InfrastructureEuronet Worldwide, Inc.0/5 short1/3 long+0.1%−18.7%−12.1%−10.7%−24.3%−21.1%−49.9%−19.7%35.7%-0.21−63.3%—$2.5B—
PYPL Financial - Credit ServicesPayPal Holdings, Inc.3/5 short0/3 long+8.6%+0.8%+11.7%−0.9%−16.5%+8.2%−77.6%+44.1%43.3%-0.47−87.3%—$49B—
DLO Software - InfrastructureDlocal Limited3/5 short0/3 long+6.1%+3.2%+14.1%+9.7%+2.5%−10.3%−69.4%—70.3%0.04−90.0%—$4.5B—
IBIT CryptoiShares Bitcoin Trust ETF2/5 short0/3 long−4.7%+26.6%+8.0%−8.3%−25.8%—————−53.3%0.25%$65B—
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How did XYZ do year by year?

This table shows each investment's total return in every full calendar year since 2016, along with where XYZ ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with XYZ and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: XYZ began trading on November 19, 2015, so the table starts with 2016, 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 XYZ; gray means the two finished within a fraction of a point. The rank row places XYZ among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of XYZ2025202420232022202120202019201820172016
XYZ This pageBlock, Inc.—−23.4%+9.9%+23.1%−61.1%−25.8%+248%+11.5%+61.8%+154%+4.1%
Rank among alternativesTop quarter in 3 of 1017 of 2416 of 2316 of 2316 of 2311 of 161 of 1313 of 131 of 111 of 119 of 11
SPY S&P 500State Street SPDR S&P 500 ETF7 of 10+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%
SHOP Shopify Inc.6 of 10+51.4%+36.5%+124%−74.8%+21.7%+185%+187%+37.1%+135%+66.3%
PAY Paymentus Holdings, Inc.3 of 4−3.3%+82.8%+123%−77.1%——————
TOST Toast, Inc.3 of 4−2.6%+99.6%+1.3%−48.0%——————
AFRM Affirm Holdings, Inc.3 of 4+22.2%+23.9%+408%−90.4%——————
COIN Coinbase Global, Inc.3 of 4−8.9%+42.8%+391%−86.0%——————
HOOD Robinhood Markets, Inc.4 of 4+204%+192%+56.5%−54.2%——————
SOFI SoFi Technologies, Inc.4 of 5+70.0%+54.8%+116%−70.8%+27.1%—————
PAGS PagSeguro Digital Ltd.3 of 7+61.0%−49.8%+42.7%−66.7%−53.9%+66.5%+82.3%———
RELY Remitly Global, Inc.3 of 4−38.9%+16.2%+69.6%−44.5%——————
MA Mastercard Incorporated6 of 10+9.0%+24.2%+23.4%−2.7%+1.2%+20.2%+59.2%+25.3%+47.7%+6.9%
V Visa Inc.6 of 10+11.8%+22.3%+26.3%−3.4%−0.3%+17.1%+43.3%+16.5%+47.2%+1.4%
PAYO Payoneer Global Inc.2 of 5−44.0%+92.7%−4.8%−25.6%−28.6%—————
WEX WEX Inc.4 of 10−15.0%−9.9%+18.9%+16.6%−31.0%−2.8%+49.5%−0.8%+26.6%+26.2%
INTU Intuit Inc.6 of 10+6.1%+1.2%+61.8%−39.1%+70.3%+46.1%+34.1%+25.9%+39.2%+20.2%
GPN Global Payments Inc.4 of 10−30.1%−11.0%+29.0%−25.9%−36.9%+18.5%+77.3%+2.9%+44.5%+7.6%
STNE StoneCo Ltd.4 of 7+85.7%−55.8%+90.9%−44.0%−79.9%+110%+116%———
FISV Fiserv, Inc.6 of 10−67.3%+54.6%+31.4%−2.6%−8.8%−1.5%+57.3%+12.1%+23.9%+17.2%
FIS Fidelity National Information Services, Inc.6 of 10−15.8%+37.0%−8.2%−36.5%−21.9%+2.7%+37.2%+10.3%+26.1%+26.6%
FOUR Shift4 Payments, Inc.4 of 5−39.3%+39.6%+32.9%−3.5%−23.2%—————
EEFT Euronet Worldwide, Inc.3 of 10−26.0%+1.3%+7.5%−20.8%−17.8%−8.0%+53.9%+21.5%+16.4%0.0%
PYPL PayPal Holdings, Inc.4 of 10−31.4%+39.0%−13.8%−62.2%−19.5%+117%+28.6%+14.2%+86.5%+9.0%
DLO Dlocal Limited2 of 4+31.5%−36.3%+13.6%−56.4%——————
IBIT iShares Bitcoin Trust ETF1 of 1−6.4%—————————
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Risk and diversification

How XYZ 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 XYZ's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents XYZ's five deepest drawdowns since it began trading in 2015, 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: XYZ began trading on November 19, 2015, 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 XYZ fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringXYZ fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2022 bear market−86.1%−2.7%Aug 2021Oct 20232.2 yearsNot yet—
Late-2018 sell-off−61.5%−18.9%Sep 2018Mar 202018 monthsJun 20203 months
No named crash−44.3%−2.6%Apr 2016Jun 20162 monthsFeb 20178 months
2015 China and oil sell-off−36.1%−9.0%Dec 2015Feb 20162 monthsMar 20161 month
No named crash−29.0%+3.0%Nov 2017Dec 20171 monthMar 20183 months

How did XYZ do in stock market crashes?

This section measures how far XYZ, 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: XYZ began trading on November 19, 2015, so its row reads "Not yet trading" for the dot-com bust, the 2008 financial crisis or three 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 XYZ.

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
XYZ This pageBlock, Inc.—−10.9%−65.8%−55.5%−48.8%−9.4%Not yet tradingNot yet tradingNot yet tradingNot yet tradingNot yet trading
SPY S&P 500State Street SPDR S&P 500 ETF5 of 5−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
SHOP Shopify Inc.4 of 5−5.1%−79.0%−40.7%−27.6%−5.4%−49.2%————
PAY Paymentus Holdings, Inc.0 of 2−13.8%−69.6%————————
TOST Toast, Inc.2 of 2−9.5%−58.9%————————
AFRM Affirm Holdings, Inc.0 of 2−14.8%−82.9%————————
COIN Coinbase Global, Inc.0 of 2−15.2%−81.2%————————
HOOD Robinhood Markets, Inc.2 of 2−6.8%−60.4%————————
SOFI SoFi Technologies, Inc.0 of 2−15.2%−67.8%————————
PAGS PagSeguro Digital Ltd.3 of 5−12.8%−60.9%−59.7%−44.9%−0.7%—————
RELY Remitly Global, Inc.2 of 2−3.8%−62.9%————————
MA Mastercard Incorporated5 of 5−4.0%−28.2%−41.0%−21.9%−5.8%−20.4%−13.8%−3.1%−62.7%—
V Visa Inc.5 of 5−3.5%−24.1%−36.4%−19.1%−5.8%−15.8%−11.5%−0.8%——
PAYO Payoneer Global Inc.1 of 2−14.7%−51.5%————————
WEX WEX Inc.3 of 5−10.3%−30.4%−64.6%−34.6%−9.4%−42.9%−29.8%−2.3%−79.0%—
INTU Intuit Inc.5 of 5−6.0%−42.7%−36.3%−20.8%−6.5%−24.8%−18.0%−3.4%−38.3%−66.0%
GPN Global Payments Inc.4 of 5−11.9%−29.2%−44.3%−25.4%−7.5%−27.8%−18.6%−5.7%−44.4%—
STNE StoneCo Ltd.2 of 3−10.2%−59.0%−55.2%———————
FISV Fiserv, Inc.4 of 5−10.9%−19.3%−37.7%−16.2%−6.1%−11.3%−20.4%−1.4%−48.3%−51.5%
FIS Fidelity National Information Services, Inc.4 of 5−20.2%−38.5%−34.7%−13.1%−8.0%−23.4%−23.3%0.0%−46.4%—
FOUR Shift4 Payments, Inc.2 of 2−6.2%−53.5%————————
EEFT Euronet Worldwide, Inc.4 of 5−9.8%−49.5%−52.4%−19.8%−11.3%−29.4%−19.8%−2.1%−77.6%−79.1%
PYPL PayPal Holdings, Inc.5 of 5−4.4%−63.8%−31.2%−16.7%−5.6%−21.6%————
DLO Dlocal Limited2 of 2−8.8%−54.0%————————
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How closely does XYZ 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 XYZ 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 XYZ's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
XYZ This pageBlock, Inc.212%273%0.782.52
MA Mastercard Incorporated105%88%1.200.95
V Visa Inc.93%79%1.180.87
SHOP Shopify Inc.233%203%1.152.09
INTU Intuit Inc.99%126%0.791.03
WEX WEX Inc.114%190%0.601.37
PYPL PayPal Holdings, Inc.106%186%0.571.25
GPN Global Payments Inc.76%139%0.540.98
FISV Fiserv, Inc.51%107%0.480.86
EEFT Euronet Worldwide, Inc.65%144%0.451.22
FIS Fidelity National Information Services, Inc.54%150%0.360.82
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What diversifies XYZ?

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 XYZ's. Because such investments tend not to fall at the same time, pairing XYZ 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 XYZ lost money. The last two columns show a portfolio that is 80% XYZ and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe20252022202180/20 mix volatility80/20 mix annual return
XYZ Block, Inc. (this page)1.00−69.4%-0.10−23.4%−61.1%−25.8%56.5%−21.1%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.41+119%1.48+27.1%+3.8%+17.8%46.0%−12.6%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.33+225%1.34+32.8%+6.0%+18.0%46.1%−11.0%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.47+101%1.04+9.7%+10.4%+23.1%46.7%−12.9%
EWP Broad MarketiShares MSCI Spain ETF0.42+140%0.97+78.0%−5.2%+0.2%46.9%−12.1%
GLD CommoditiesSPDR Gold Shares0.10+126%0.96+63.7%−0.8%−4.2%45.7%−12.1%
XLE EnergyState Street Energy Select Sector SPDR ETF0.16+177%0.93+7.9%+64.4%+53.3%46.4%−11.3%
EWT TechnologyiShares MSCI Taiwan ETF0.49+153%0.89+28.4%−28.9%+28.9%47.9%−12.2%
AMLP EnergyAlerian MLP ETF0.38+111%0.89+5.8%+25.5%+39.1%46.7%−12.4%

Stocks

InvestmentCorrelation5Y returnSharpe20252022202180/20 mix volatility80/20 mix annual return
XYZ Block, Inc. (this page)1.00−69.4%-0.10−23.4%−61.1%−25.8%56.5%−21.1%
CAH Medical - DistributionCardinal Health, Inc.0.24+479%1.55+76.3%+54.1%−0.4%46.8%−9.3%
CLS Hardware, Equipment & PartsCelestica Inc.0.45+3,143%1.47+220%+1.3%+37.9%51.5%−0.7%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.47+1,636%1.46+121%+17.0%+89.0%50.1%−3.6%
MCK Medical - DistributionMcKesson Corporation0.00+413%1.44+44.5%+51.8%+44.2%45.5%−9.3%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.17+690%1.41+19.2%+86.6%+61.0%46.8%−7.6%
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Common questions

What was XYZ's worst drawdown?

XYZ's deepest decline since it began trading in 2015 was 86.1%, from August 2021 to October 2023. It has not yet climbed back to that peak. Because XYZ launched in November 2015, that record does not include the dot-com bust, the 2008 financial crisis or two other sell-offs.

What were XYZ's best and worst years?

Over ten full calendar years, XYZ's best year was 2020, when it returned 248%. Its worst was 2022, with a return of -61.1%.

Is there a better investment than XYZ?

Among XYZ's popular alternatives, V, MA and WEX earned more than XYZ with less volatility over the past 5 years. V returned 12.8% a year at 22.9% volatility, against a loss of 21.1% a year at 59.9%. Looking beyond its popular alternatives, AAPL (digital payments theme) and MSFT (software) earned more than XYZ with less volatility over the past 5 years. AAPL returned 18.5% a year at 28.0% volatility, against a loss of 21.1% a year at 59.9%.

Is XYZ more volatile than the S&P 500?

Yes. XYZ's volatility over the past 5 years was 59.9%, 3.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, XYZ's return lands within 59.9% 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 XYZ's Sharpe ratio?

XYZ's Sharpe ratio over the past 5 years was -0.10, against 0.79 for the S&P 500, so XYZ 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 XYZ with the S&P 500?

Over the past 5 years, XYZ's monthly returns had a correlation of 0.71 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 XYZ instead: the lower it is, the more that option would diversify a XYZ holding.

What are the best alternatives to XYZ?

Of the 23 popular alternatives we compared, three outperformed XYZ in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: SHOP, PAY and TOST.

Did XYZ outperform the S&P 500?

XYZ finished ahead of the S&P 500 (SPY) in three of ten full calendar years. In 2025, it returned -23.4%, against +17.7% for the index.

How did XYZ do in stock market crashes?

XYZ fell less than the S&P 500 (SPY) in none of the five major crashes it has traded through, and further in five. The clearest case was the 2022 bear market, when XYZ fell 65.8% and the S&P 500 fell 24.5%.

What diversifies XYZ?

These had a low correlation with XYZ over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.41), DXJ (correlation 0.33) and EMLP (correlation 0.47); among large stocks, CAH (correlation 0.24), CLS (correlation 0.45) and FIX (correlation 0.47). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to XYZ

Other stocks and ETFs