BetterThanSPY

Relative Intelligence · E-Commerce

How Amazon.com (AMZN) compares with the whole market and its popular alternatives

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

Period covered: AMZN's full trading record, from May 1997 through September 2026. All returns include reinvested dividends. Data as of October 22, 2026.

Data as of October 22, 2026. Full tables and charts read best on a larger screen.

Rank the market against AMZN →Chart AMZN vs. 21 alternatives →

This page answers the following questions about AMZN

Key findings

Not AI-generated

These key findings are generated by our proprietary relative intelligence engine, directly from the data on this page.

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

This chart tracks a hypothetical $10,000 investment in AMZN over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of AMZN over the same span and AMZN'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.

Choose a period

From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 2 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of AMZN. The other 6 lines are popular alternatives, shown for context.

$10,000$100,000$1M$10M199720022007201220172022$10,000$100,000$1M$10M19972004201120182025
  • MNST$46M+456,538% total · +33.7% a year
  • AAPL$21M+205,249% total · +30.1% a year
  • AMZN$11M+114,749% total · +27.5% a year
  • COST$727,732+7,177% total · +15.9% a year
  • BBY$604,450+5,945% total · +15.2% a year
  • MSFT$508,386+4,984% total · +14.5% a year
  • WMT$272,033+2,620% total · +12.1% a year
  • TGT$184,797+1,748% total · +10.6% a year
  • FDX$138,138+1,281% total · +9.5% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% 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. 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. 1,529 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of AMZN; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$2,000$5,000$10,000$20,000$50,000$100,000202120222023202420252026$10,000$100,000202120222023202420252026
  • NVDA$110,811+1,008% total · +61.8% a year
  • GOOG$25,811+158% total · +20.9% a year
  • WMT$23,813+138% total · +18.9% a year
  • COST$21,378+114% total · +16.4% 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
  • EBAY$16,622+66.2% total · +10.7% a year
  • AMZN$15,169+51.7% total · +8.7% a year
  • SHOP$10,938+9.4% total · +1.8% a year
  • ETSY$3,438−65.6% total · −19.2% a year
Change the dates or add tickers to this chart in EasyCompare

AMZN 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.

The company

Market value
$2.7T
Industry
Specialty Retail
Price history from
May 1997

Returns

Past 1 year
+14.9%total return
Past 3 years
+97.8%+25.5% a year
Past 5 years
+50.1%+8.5% a year
Past 10 years
+498%+19.6% a year
Best calendar year
+968%1998
Worst calendar year
−79.6%2000
Losing years
8 of 28full calendar years

Risk

Volatility
36.6%typical yearly swing, 5 years
Sharpe ratio
0.41return per unit of risk, 5 years
Worst decline ever
−94.4%Dec 1999 to Sep 2001
From its all-time high
−11.8%below the peak

AMZN against the whole market

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

How does AMZN rank among all stocks?

This section ranks AMZN 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 AMZN 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.

MeasureAMZNRankStanding
1-year return+14.9%1,444 of 3,282top 44%
3-year return+97.8%948 of 3,016top 31%
5-year return+50.1%1,092 of 2,897top 38%
10-year return+498%300 of 2,201top 14%
Volatility, 5 years36.6%1,253 of 2,897top 43%
Sharpe ratio, 5 years0.411,223 of 2,897top 42%
Worst decline, past 10 years−56.1%723 of 2,184top 33%

What has beaten AMZN 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). AMZN sits where the dashed lines cross. Anything in the green box above and to the left earned more than AMZN 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 AMZN; faint dots are 87 more of the 827 in the green region (the strongest, one per fund family). 3,641 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%55.0%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 AMZNJPM: +17.3% a year, volatility 24.3%ABBV: +25.5% a year, volatility 23.4%DXJ: +26.6% a year, volatility 19.1%QQQ: +14.2% a year, volatility 23.0%PM: +21.3% a year, volatility 23.4%CSCO: +16.9% a year, volatility 26.1%MCK: +37.8% a year, volatility 25.1%GILD: +22.8% a year, volatility 24.9%TD: +16.5% a year, volatility 20.0%IBM: +20.1% a year, volatility 30.2%MFG: +33.9% a year, volatility 30.6%VGT: +18.1% a year, volatility 26.1%SMFG: +34.0% a year, volatility 29.4%VRTX: +23.9% a year, volatility 29.1%ADI: +18.6% a year, volatility 34.2%CM: +19.5% a year, volatility 21.6%BNY: +22.8% a year, volatility 24.4%DE: +15.1% a year, volatility 29.9%TRV: +22.4% a year, volatility 22.3%BMO: +14.0% a year, volatility 21.4%GWW: +26.7% a year, volatility 24.9%BNS: +13.2% a year, volatility 20.0%CTAS: +17.1% a year, volatility 23.1%HLT: +20.7% a year, volatility 26.8%JCI: +16.4% a year, volatility 29.2%MSI: +15.2% a year, volatility 23.6%ETR: +19.8% a year, volatility 22.4%ALL: +17.9% a year, volatility 26.2%CCEP: +20.4% a year, volatility 23.3%FAST: +16.2% a year, volatility 24.6%AJG: +11.6% a year, volatility 24.3%RACE: +13.2% a year, volatility 30.0%DYNF: +14.4% a year, volatility 17.5%TRP: +10.9% a year, volatility 21.9%CBOE: +22.0% a year, volatility 25.1%IX: +18.3% a year, volatility 25.4%NDAQ: +10.5% a year, volatility 24.9%RS: +24.8% a year, volatility 28.1%SPMO: +18.1% a year, volatility 20.9%RPRX: +13.8% a year, volatility 23.8%DGX: +13.0% a year, volatility 22.5%AVDV: +13.6% a year, volatility 17.4%EMXC: +10.9% a year, volatility 19.5%RGLD: +20.2% a year, volatility 32.4%EWT: +19.8% a year, volatility 24.3%EHC: +18.7% a year, volatility 26.9%IOO: +15.6% a year, volatility 17.2%MUSA: +25.3% a year, volatility 31.2%WELL: +27.0% a year, volatility 23.8%AIZ: +13.7% a year, volatility 25.3%VLUE: +16.2% a year, volatility 18.4%IDV: +12.7% a year, volatility 15.5%WTS: +14.8% a year, volatility 28.4%MSGS: +17.5% a year, volatility 25.7%NEU: +20.9% a year, volatility 26.8%AIQ: +14.7% a year, volatility 26.7%THG: +15.2% a year, volatility 22.9%ACA: +23.4% a year, volatility 34.0%NHC: +31.2% a year, volatility 28.6%QTUM: +22.1% a year, volatility 28.2%RSPT: +16.6% a year, volatility 25.1%TRGP: +41.8% a year, volatility 31.7%MPLX: +24.0% a year, volatility 18.8%TDIV: +16.5% a year, volatility 21.3%NIC: +19.7% a year, volatility 30.2%DIVB: +14.6% a year, volatility 15.5%FULT: +11.3% a year, volatility 30.3%JMOM: +12.3% a year, volatility 19.1%PRK: +11.6% a year, volatility 30.3%XNTK: +16.6% a year, volatility 29.3%GRC: +14.2% a year, volatility 31.4%RBCAA: +14.8% a year, volatility 28.0%DBJP: +20.9% a year, volatility 19.3%CTBI: +14.8% a year, volatility 26.4%NPK: +16.5% a year, volatility 27.3%HSBC: +32.8% a year, volatility 25.9%FDD: +12.5% a year, volatility 18.5%FSBC: +15.0% a year, volatility 31.3%THFF: +16.2% a year, volatility 26.2%TRST: +15.5% a year, volatility 26.8%FBIZ: +23.2% a year, volatility 29.4%IXG: +12.3% a year, volatility 17.2%VLGEA: +19.4% a year, volatility 28.4%RCBC: +15.3% a year, volatility 27.2%ACNB: +23.0% a year, volatility 34.4%SPHB: +12.7% a year, volatility 28.2%GVAL: +14.2% a year, volatility 18.7%AMZN: +8.5% a year, volatility 36.6%SPY (S&P 500): +12.5% a year, volatility 17.2%COST: +17.4% a year, volatility 22.9%MSFT: +11.9% a year, volatility 28.2%WMT: +21.1% a year, volatility 22.6%GOOG: +18.5% a year, volatility 32.0%EBAY: +10.6% a year, volatility 32.8%NVDA: +56.5% a year, volatility 51.9%MA: +12.7% a year, volatility 23.8%FOXA: +11.2% a year, volatility 28.7%CIBR: +14.5% a year, volatility 26.2%IGPT: +13.2% a year, volatility 30.2%MATX: +23.5% a year, volatility 39.5%IHAK: +9.0% a year, volatility 25.0%LLY: +41.2% a year, volatility 32.8%PGR: +21.8% a year, volatility 25.7%RY: +17.5% a year, volatility 18.2%CAH: +41.7% a year, volatility 24.7%AAPL: +19.1% a year, volatility 28.0%CSW: +17.1% a year, volatility 34.4%SMH: +32.2% a year, volatility 37.0%VXUS: +8.0% a year, volatility 16.4%MPC: +50.0% a year, volatility 33.4%AMZNSPY (S&P 500)COSTMSFTWMTGOOGEBAYNVDAMAFOXACIBRMATXIHAKLLYPGRRYCAHAAPLCSWSMHVXUSMPC10.0%20.0%30.0%40.0%50.0%60.0%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 AMZNJPM: +17.3% a year, volatility 24.3%ABBV: +25.5% a year, volatility 23.4%DXJ: +26.6% a year, volatility 19.1%QQQ: +14.2% a year, volatility 23.0%PM: +21.3% a year, volatility 23.4%CSCO: +16.9% a year, volatility 26.1%MCK: +37.8% a year, volatility 25.1%GILD: +22.8% a year, volatility 24.9%TD: +16.5% a year, volatility 20.0%IBM: +20.1% a year, volatility 30.2%MFG: +33.9% a year, volatility 30.6%VGT: +18.1% a year, volatility 26.1%SMFG: +34.0% a year, volatility 29.4%VRTX: +23.9% a year, volatility 29.1%ADI: +18.6% a year, volatility 34.2%CM: +19.5% a year, volatility 21.6%BNY: +22.8% a year, volatility 24.4%DE: +15.1% a year, volatility 29.9%TRV: +22.4% a year, volatility 22.3%BMO: +14.0% a year, volatility 21.4%GWW: +26.7% a year, volatility 24.9%BNS: +13.2% a year, volatility 20.0%CTAS: +17.1% a year, volatility 23.1%HLT: +20.7% a year, volatility 26.8%JCI: +16.4% a year, volatility 29.2%MSI: +15.2% a year, volatility 23.6%ETR: +19.8% a year, volatility 22.4%ALL: +17.9% a year, volatility 26.2%CCEP: +20.4% a year, volatility 23.3%FAST: +16.2% a year, volatility 24.6%AJG: +11.6% a year, volatility 24.3%RACE: +13.2% a year, volatility 30.0%DYNF: +14.4% a year, volatility 17.5%TRP: +10.9% a year, volatility 21.9%CBOE: +22.0% a year, volatility 25.1%IX: +18.3% a year, volatility 25.4%NDAQ: +10.5% a year, volatility 24.9%RS: +24.8% a year, volatility 28.1%SPMO: +18.1% a year, volatility 20.9%RPRX: +13.8% a year, volatility 23.8%DGX: +13.0% a year, volatility 22.5%AVDV: +13.6% a year, volatility 17.4%EMXC: +10.9% a year, volatility 19.5%RGLD: +20.2% a year, volatility 32.4%EWT: +19.8% a year, volatility 24.3%EHC: +18.7% a year, volatility 26.9%IOO: +15.6% a year, volatility 17.2%MUSA: +25.3% a year, volatility 31.2%WELL: +27.0% a year, volatility 23.8%AIZ: +13.7% a year, volatility 25.3%VLUE: +16.2% a year, volatility 18.4%IDV: +12.7% a year, volatility 15.5%WTS: +14.8% a year, volatility 28.4%MSGS: +17.5% a year, volatility 25.7%NEU: +20.9% a year, volatility 26.8%AIQ: +14.7% a year, volatility 26.7%THG: +15.2% a year, volatility 22.9%ACA: +23.4% a year, volatility 34.0%NHC: +31.2% a year, volatility 28.6%QTUM: +22.1% a year, volatility 28.2%RSPT: +16.6% a year, volatility 25.1%TRGP: +41.8% a year, volatility 31.7%MPLX: +24.0% a year, volatility 18.8%TDIV: +16.5% a year, volatility 21.3%NIC: +19.7% a year, volatility 30.2%DIVB: +14.6% a year, volatility 15.5%FULT: +11.3% a year, volatility 30.3%JMOM: +12.3% a year, volatility 19.1%PRK: +11.6% a year, volatility 30.3%XNTK: +16.6% a year, volatility 29.3%GRC: +14.2% a year, volatility 31.4%RBCAA: +14.8% a year, volatility 28.0%DBJP: +20.9% a year, volatility 19.3%CTBI: +14.8% a year, volatility 26.4%NPK: +16.5% a year, volatility 27.3%HSBC: +32.8% a year, volatility 25.9%FDD: +12.5% a year, volatility 18.5%FSBC: +15.0% a year, volatility 31.3%THFF: +16.2% a year, volatility 26.2%TRST: +15.5% a year, volatility 26.8%FBIZ: +23.2% a year, volatility 29.4%IXG: +12.3% a year, volatility 17.2%VLGEA: +19.4% a year, volatility 28.4%RCBC: +15.3% a year, volatility 27.2%ACNB: +23.0% a year, volatility 34.4%SPHB: +12.7% a year, volatility 28.2%GVAL: +14.2% a year, volatility 18.7%AMZN: +8.5% a year, volatility 36.6%SPY (S&P 500): +12.5% a year, volatility 17.2%COST: +17.4% a year, volatility 22.9%MSFT: +11.9% a year, volatility 28.2%WMT: +21.1% a year, volatility 22.6%GOOG: +18.5% a year, volatility 32.0%EBAY: +10.6% a year, volatility 32.8%NVDA: +56.5% a year, volatility 51.9%MA: +12.7% a year, volatility 23.8%FOXA: +11.2% a year, volatility 28.7%CIBR: +14.5% a year, volatility 26.2%IGPT: +13.2% a year, volatility 30.2%MATX: +23.5% a year, volatility 39.5%IHAK: +9.0% a year, volatility 25.0%LLY: +41.2% a year, volatility 32.8%PGR: +21.8% a year, volatility 25.7%RY: +17.5% a year, volatility 18.2%CAH: +41.7% a year, volatility 24.7%AAPL: +19.1% a year, volatility 28.0%CSW: +17.1% a year, volatility 34.4%SMH: +32.2% a year, volatility 37.0%VXUS: +8.0% a year, volatility 16.4%MPC: +50.0% a year, volatility 33.4%AMZNSPY (S&P 500)COSTWMTGOOGNVDAMATXIHAKLLYRYCAHCSWSMHVXUSMPC
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than AMZN?

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

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

Screen the whole market against AMZN 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 AMZN?lower diversifies moreExpenseper year
AMZNAmazon.com, Inc. · this page
+8.5%36.6%0.41−56.1%+498%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.5%17.2%0.78−33.7%+316%0.670.09%
Popular alternativesbest 6 shownThe investments people most often weigh against AMZN. 8 of 21 passed at least one test.
COSTCostco Wholesale Corporation · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+17.4%22.9%0.82−31.4%+692%0.45—
MSFTMicrosoft Corporation · Software
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+11.9%28.2%0.54−37.1%+862%0.62—
WMTWalmart Inc. · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+21.1%22.6%0.97−25.7%+521%0.22—
GOOGAlphabet Inc. · Internet Services
Higher return, lower volatilityHigher Sharpe, smaller worst decline+18.5%32.0%0.69−44.6%+696%0.68—
EBAYeBay Inc. · E-Commerce
Higher return, lower volatilityHigher return in most periods+10.6%32.8%0.47−53.6%+374%0.49—
NVDANVIDIA Corporation · Semiconductors
Higher return in most periods+56.5%51.9%1.12−66.3%+12,166%0.64—
Same and neighboring categories, and shared themesbest 6 shownEverything else in E-Commerce and the categories next to it (Specialty Retail, Software, Freight & Logistics, Payment Processing), plus AMZN's specific themes. 53 of 305 passed at least one test.
MAMastercard Incorporated · Payment Processing
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.7%23.8%0.62−41.0%+551%0.27—
FOXAFox Corporation · Media · Video Streaming theme
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+11.2%28.7%0.52−50.6%—0.31—
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+14.5%26.2%0.65−33.9%+461%0.460.58%
IGPTInvesco AI and Next Gen Software ETF · Software
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+13.2%30.2%0.56−50.1%+492%0.550.57%
MATXMatson, Inc. · Marine Shipping
Higher return, similar volatilityHigher return in most periods+23.5%39.5%0.73−53.6%+554%0.37—
IHAKiShares Cybersecurity and Tech ETF · Cybersecurity
Similar return, lower volatility+9.0%25.0%0.47−34.4%—0.450.47%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,218 of 3,362 passed at least one test.
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+41.2%32.8%1.22−34.5%+1,870%0.02—
PGRThe Progressive Corporation · Property & Casualty Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+21.8%25.7%0.90−30.3%+849%-0.17—
RYRoyal Bank of Canada · Banks
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.5%18.2%0.98−40.0%+361%0.20—
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+41.7%24.7%1.54−46.1%+345%0.02—
AAPLApple Inc. · Computer Hardware
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+19.1%28.0%0.77−38.5%+1,194%0.51—
CSWCSW Industrials, Inc. · Industrial Products
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+17.1%34.4%0.63−46.2%+893%0.39—
SMHVanEck Semiconductor ETF · Semiconductors
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+32.2%37.0%0.94−45.3%+1,570%0.600.35%
VXUSVanguard Total International Stock ETF · International Equity
Similar return, lower volatilityHigher Sharpe, smaller worst decline+8.0%16.4%0.56−36.0%+137%0.370.05%
What these numbers mean for AMZN
Annual return
AMZN returned 8.5% a year over the past 5 years with dividends reinvested, against 12.5% a year for the S&P 500. At that pace, $10,000 became about $15,000. 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
AMZN's volatility over the past 5 years was 36.6%, 2.1 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, AMZN's return lands within 36.6% 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
AMZN's Sharpe ratio over the past 5 years was 0.41, against 0.78 for the S&P 500, so AMZN 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
AMZN's worst fall from a peak to a low over the past 10 years was 56.1%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 56.1% fall takes a 128% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, AMZN's monthly returns had a correlation of 0.67 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 AMZN instead: the lower it is, the more that option would diversify a AMZN holding. Guide: Correlation and diversification →
Show all 827 stocks and funds worth at least $500 million that earned more than AMZN with less volatility

Out of 3,641 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 AMZNExpense
1
LLYEli Lilly and Company · Pharmaceuticals
Whole market+41.2%32.8%1.22−34.5%+1,870%0.02—
2
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.8%25.7%0.90−30.3%+849%-0.17—
3
RYRoyal Bank of Canada · Banks
Whole market+17.5%18.2%0.98−40.0%+361%0.20—
4
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+41.7%24.7%1.54−46.1%+345%0.02—
5
AAPLApple Inc. · Computer Hardware
Whole market+19.1%28.0%0.77−38.5%+1,194%0.51—
6
COSTCostco Wholesale Corporation · Discount Retail
Popular alternative+17.4%22.9%0.82−31.4%+692%0.45—
7
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+534%0.30—
8
ABBVAbbVie Inc. · Specialty Pharmaceuticals
Whole market+25.5%23.4%1.09−45.1%+600%-0.29—
9
DXJWisdomTree Japan Hedged Equity Fund · Japan Equity
Whole market+26.6%19.1%1.34−39.1%+415%0.280.48%
10
CSWCSW Industrials, Inc. · Industrial Products
Whole market+17.1%34.4%0.63−46.2%+893%0.39—
11
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.2%23.0%0.69−35.1%+531%0.740.18%
12
PMPhilip Morris International Inc. · Tobacco
Whole market+21.3%23.4%0.94−42.9%+240%-0.21—
13
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.9%26.1%0.73−42.0%+361%0.39—
14
MCKMcKesson Corporation · Health Care Distribution
Whole market+37.8%25.1%1.41−38.1%+582%0.02—
15
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+202%-0.16—
16
TDThe Toronto-Dominion Bank · Banks
Whole market+16.5%20.0%0.87−42.0%+319%0.22—
17
IBMInternational Business Machines Corporation · IT Services
Whole market+20.1%30.2%0.76−41.1%+163%0.04—
18
MFGMizuho Financial Group, Inc. · Banks
Whole market+33.9%30.6%1.11−45.7%+343%0.24—
19
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.1%26.1%0.77−35.1%+753%0.690.09%
20
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+34.0%29.4%1.15−47.6%+470%0.09—
21
VRTXVertex Pharmaceuticals Incorporated · Rare Disease Therapeutics
Whole market+23.9%29.1%0.89−41.6%+580%-0.09—
22
ADIAnalog Devices, Inc. · Semiconductors
Whole market+18.6%34.2%0.67−33.6%+625%0.32—
23
CMCanadian Imperial Bank of Commerce · Banks
Whole market+19.5%21.6%0.94−47.3%+409%0.34—
24
BNYBank of New York Mellon Corp · Banks
Whole market+22.8%24.4%0.97−50.5%+332%0.38—
25
DEDeere & Company · Industrial Machinery
Whole market+15.1%29.9%0.62−37.9%+764%0.11—
26
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+360%-0.09—
27
BMOBank of Montreal · Banks
Whole market+14.0%21.4%0.72−51.0%+304%0.32—
28
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.7%24.9%1.08−41.6%+670%0.31—
29
BNSThe Bank of Nova Scotia · Banks
Whole market+13.2%20.0%0.73−46.9%+191%0.38—
30
CTASCintas Corporation · Business Services
Whole market+17.1%23.1%0.80−48.4%+834%0.34—
31
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+20.7%26.8%0.84−50.8%+693%0.42—
32
JCIJohnson Controls International plc · Building Products
Whole market+16.4%29.2%0.67−46.4%+407%0.27—
33
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+15.2%23.6%0.72−32.8%+639%0.23—
34
ETREntergy Corporation · Electric Utilities
Whole market+19.8%22.4%0.92−42.0%+326%-0.02—
35
ALLThe Allstate Corporation · Property & Casualty Insurance
Whole market+17.9%26.2%0.76−41.4%+377%-0.13—
36
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Whole market+20.4%23.3%0.92−48.8%+294%-0.05—
37
FASTFastenal Company · Industrial Distribution
Whole market+16.2%24.6%0.74−30.7%+582%0.17—
38
AJGArthur J. Gallagher & Co. · Insurance Brokers
Whole market+11.6%24.3%0.57−44.4%+552%0.10—
39
RACEFerrari N.V. · Automobiles
Whole market+13.2%30.0%0.56−39.2%+699%0.24—
40
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Whole market+14.4%17.5%0.86−34.7%—0.670.26%
41
TRPTC Energy Corporation · Oil & Gas Midstream
Whole market+10.9%21.9%0.58−41.6%+165%0.15—
42
CBOECboe Global Markets, Inc. · Capital Markets
Whole market+22.0%25.1%0.92−43.2%+481%0.24—
43
IXORIX Corporation · Diversified Financials
Whole market+18.3%25.4%0.79−42.5%+286%0.26—
44
NDAQNasdaq, Inc. · Capital Markets
Whole market+10.5%24.9%0.53−38.3%+447%0.51—
45
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.94−40.8%+639%0.38—
46
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.1%20.9%0.91−30.9%+485%0.450.13%
47
RPRXRoyalty Pharma plc · Pharmaceuticals
Whole market+13.8%23.8%0.67−49.7%—0.10—
48
DGXQuest Diagnostics Incorporated · Medical Diagnostics
Whole market+13.0%22.5%0.66−36.6%+256%-0.06—
49
AVDVAvantis International Small Cap Value ETF · International Equity
Whole market+13.6%17.4%0.82−43.0%—0.270.36%
50
EMXCiShares MSCI Emerging Markets ex China ETF · Emerging Markets Equity
Whole market+10.9%19.5%0.63−42.8%—0.370.25%
51
RGLDRoyal Gold, Inc. · Gold Mining
Whole market+20.2%32.4%0.73−49.5%+291%-0.07—
52
MAMastercard Incorporated · Payment Processing
Same or nearby category+12.7%23.8%0.62−41.0%+551%0.27—
53
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+19.8%24.3%0.87−38.9%+448%0.410.59%
54
MPCMarathon Petroleum Corporation · Oil Refining
Whole market+50.0%33.4%1.39−79.7%+1,314%0.11—
55
MSFTMicrosoft Corporation · Software
Popular alternative+11.9%28.2%0.54−37.1%+862%0.62—
56
EHCEncompass Health Corporation · Health Care Facilities
Whole market+18.7%26.9%0.77−39.5%+354%0.12—
57
IOOiShares Global 100 ETF · Global Equity
Whole market+15.6%17.2%0.94−31.4%+357%0.690.40%
58
MUSAMurphy USA Inc. · Convenience Stores
Whole market+25.3%31.2%0.88−35.5%+688%0.19—
59
WELLWelltower Inc. · Healthcare REITs
Whole market+27.0%23.8%1.13−63.3%+378%0.24—
60
AIZAssurant, Inc. · Property & Casualty Insurance
Whole market+13.7%25.3%0.64−44.6%+322%0.30—
61
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+16.2%18.4%0.91−39.5%+286%0.400.15%
62
IDViShares International Select Dividend ETF · International Dividend Equity
Whole market+12.7%15.5%0.85−42.5%+159%0.200.50%
63
WTSWatts Water Technologies, Inc. · Industrial Machinery
Whole market+14.8%28.4%0.63−44.1%+533%0.20—
64
MSGSMadison Square Garden Sports Corp. · Entertainment
Whole market+17.5%25.7%0.76−41.6%+395%-0.05—
65
NEUNewMarket Corporation · Specialty Chemicals
Whole market+20.9%26.8%0.85−40.7%+162%0.20—
66
AIQGlobal X - Artificial Intelligence & Technology ETF · Artificial Intelligence
Whole market+14.7%26.7%0.65−44.6%—0.650.68%
67
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance
Whole market+15.2%22.9%0.73−40.1%+309%-0.16—
68
ACAArcosa, Inc. · Construction Materials
Whole market+23.4%34.0%0.79−36.8%—0.46—
69
NHCNational HealthCare Corporation · Health Care Facilities
Whole market+31.2%28.6%1.10−35.3%+385%0.13—
70
QTUMDefiance Quantum ETF · Quantum Computing
Whole market+22.1%28.2%0.85−38.5%—0.580.40%
71
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.6%25.1%0.74−33.7%+559%0.630.40%
72
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.16—
73
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+24.0%18.8%1.25−75.2%+337%0.23—
74
TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity
Whole market+16.5%21.3%0.83−32.0%+384%0.600.50%
75
FOXAFox Corporation · Media · Video Streaming theme
Same or nearby category+11.2%28.7%0.52−50.6%—0.31—
76
NICNicolet Bankshares, Inc. · Regional Banks
Whole market+19.7%30.2%0.75−44.3%+354%0.06—
77
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Same or nearby category+14.5%26.2%0.65−33.9%+461%0.460.58%
78
DIVBiShares Core Dividend ETF · High Dividend Yield
Whole market+14.6%15.5%0.96−36.9%—0.440.05%
79
FULTFulton Financial Corporation · Regional Banks
Whole market+11.3%30.3%0.51−49.4%+130%0.18—
80
JMOMJPMorgan U.S. Momentum Factor ETF · US Momentum Equity
Whole market+12.3%19.1%0.70−34.3%—0.600.12%
81
PRKPark National Corporation · Regional Banks
Whole market+11.6%30.3%0.51−40.3%+176%0.13—
82
XNTKState Street SPDR NYSE Technology ETF · Technology Equity
Whole market+16.6%29.3%0.67−48.3%+691%0.630.35%
83
GRCThe Gorman-Rupp Company · Industrial Machinery
Whole market+14.2%31.4%0.58−49.3%+268%0.30—
84
RBCAARepublic Bancorp, Inc. · Regional Banks
Whole market+14.8%28.0%0.63−44.7%+287%0.11—
85
DBJPXtrackers MSCI Japan Hedged Equity ETF · Japan Equity
Whole market+20.9%19.3%1.09−31.3%+339%0.400.45%
86
CTBICommunity Trust Bancorp, Inc. · Regional Banks
Whole market+14.8%26.4%0.66−43.0%+177%0.08—
87
NPKNational Presto Industries, Inc. · Aerospace & Defense
Whole market+16.5%27.3%0.70−45.5%+175%0.28—
88
HSBCHSBC Holdings plc · Banks
Whole market+32.8%25.9%1.23−62.3%+314%0.14—
89
FDDFirst Trust STOXX European Select Dividend Index Fund · International Equity
Whole market+12.5%18.5%0.73−41.4%+174%0.210.56%
90
IGPTInvesco AI and Next Gen Software ETF · Software
Same or nearby category+13.2%30.2%0.56−50.1%+492%0.550.57%
91
FSBCFive Star Bancorp · Regional Banks
Whole market+15.0%31.3%0.60−40.8%+306%0.09—
92
THFFFirst Financial Corporation · Regional Banks
Whole market+16.2%26.2%0.71−42.8%+164%0.05—
93
TRSTTrustCo Bank Corp NY · Regional Banks
Whole market+15.5%26.8%0.67−49.5%+127%0.04—
94
FBIZFirst Business Financial Services, Inc. · Regional Banks
Whole market+23.2%29.4%0.86−50.2%+315%0.08—
95
IXGiShares Global Financials ETF · Financial Sector Equity
Whole market+12.3%17.2%0.77−43.5%+221%0.370.38%
96
VLGEAVillage Super Market, Inc. · Grocery Stores
Whole market+19.4%28.4%0.77−46.8%+111%0.00—
97
RCBCRiver City Bank · Regional Banks
Whole market+15.3%27.2%0.66−45.5%+354%0.00—
98
ACNBACNB Corporation · Regional Banks
Whole market+23.0%34.4%0.77−49.7%+247%0.14—
99
SPHBInvesco S&P 500 High Beta ETF · US High-Beta Equity
Whole market+12.7%28.2%0.57−46.8%+374%0.590.25%
100
GVALCambria Global Value ETF · Global Equity
Whole market+14.2%18.7%0.81−46.8%+168%0.130.68%

See everything that outperformed AMZN →

AMZN against its popular alternatives

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

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

Green points earned more than AMZN 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%−40.0%−20.0%0.0%20.0%40.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityAMZN: 8.5% a year, volatility 36.6%SPY (S&P 500): 12.5% a year, volatility 17.2%EBAY: 10.6% a year, volatility 32.8%COST: 17.4% a year, volatility 22.9%SHOP: 3.4% a year, volatility 66.9%MSFT: 11.9% a year, volatility 28.2%WMT: 21.1% a year, volatility 22.6%GOOG: 18.5% a year, volatility 32.0%ETSY: −17.8% a year, volatility 55.4%W: −13.7% a year, volatility 81.8%FDX: 12.3% a year, volatility 32.8%MELI: 4.0% a year, volatility 49.5%BURL: −1.9% a year, volatility 44.5%BBY: 1.3% a year, volatility 38.2%CHWY: −19.4% a year, volatility 61.0%JD: −18.8% a year, volatility 52.7%BABA: −9.4% a year, volatility 51.3%CPNG: −13.6% a year, volatility 52.1%PDD: −4.4% a year, volatility 66.0%SE: −26.6% a year, volatility 64.6%NVDA: 56.5% a year, volatility 51.9%TGT: −6.3% a year, volatility 36.1%UPS: −8.8% a year, volatility 28.9%AMZNSPY (S&P 500)EBAYCOSTSHOPMSFTWMTGOOGETSYWMELIBURLBBYCHWYJDBABACPNGPDDSENVDATGTUPS0.0%20.0%40.0%60.0%80.0%100%−40.0%−20.0%0.0%20.0%40.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityAMZN: 8.5% a year, volatility 36.6%SPY (S&P 500): 12.5% a year, volatility 17.2%EBAY: 10.6% a year, volatility 32.8%COST: 17.4% a year, volatility 22.9%SHOP: 3.4% a year, volatility 66.9%MSFT: 11.9% a year, volatility 28.2%WMT: 21.1% a year, volatility 22.6%GOOG: 18.5% a year, volatility 32.0%ETSY: −17.8% a year, volatility 55.4%W: −13.7% a year, volatility 81.8%FDX: 12.3% a year, volatility 32.8%MELI: 4.0% a year, volatility 49.5%BURL: −1.9% a year, volatility 44.5%BBY: 1.3% a year, volatility 38.2%CHWY: −19.4% a year, volatility 61.0%JD: −18.8% a year, volatility 52.7%BABA: −9.4% a year, volatility 51.3%CPNG: −13.6% a year, volatility 52.1%PDD: −4.4% a year, volatility 66.0%SE: −26.6% a year, volatility 64.6%NVDA: 56.5% a year, volatility 51.9%TGT: −6.3% a year, volatility 36.1%UPS: −8.8% a year, volatility 28.9%AMZNSPY (S&P 500)COSTSHOPWMTETSYWMELIBURLBBYJDBABACPNGPDDSENVDATGTUPS
All figures
InvestmentAnnual returnVolatility
NVDA NVIDIA Corporation+56.5%51.9%
WMT Walmart Inc.+21.1%22.6%
GOOG Alphabet Inc.+18.5%32.0%
COST Costco Wholesale Corporation+17.4%22.9%
SPY S&P 500State Street SPDR S&P 500 ETF+12.5%17.2%
FDX FedEx Corporation+12.3%32.8%
MSFT Microsoft Corporation+11.9%28.2%
EBAY eBay Inc.+10.6%32.8%
AMZN This pageAmazon.com, Inc.+8.5%36.6%
MELI MercadoLibre, Inc.+4.0%49.5%
SHOP Shopify Inc.+3.4%66.9%
BBY Best Buy Co., Inc.+1.3%38.2%
BURL Burlington Stores, Inc.−1.9%44.5%
PDD PDD Holdings Inc.−4.4%66.0%
TGT Target Corporation−6.3%36.1%
UPS United Parcel Service, Inc.−8.8%28.9%
BABA Alibaba Group Holding Limited−9.4%51.3%
CPNG Coupang, Inc.−13.6%52.1%
W Wayfair Inc.−13.7%81.8%
ETSY Etsy, Inc.−17.8%55.4%
JD JD.com, Inc.−18.8%52.7%
CHWY Chewy, Inc.−19.4%61.0%
SE Sea Limited−26.6%64.6%
Open these 23 in EasyCompare

Has AMZN consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than AMZN 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
AMZN Amazon.com, Inc. (this page)—−1.8%+2.3%−1.9%+10.5%+14.9%+97.8%+50.1%+498%36.6%0.41−56.1%—$2.7T—
NVDA QualifiedNVIDIA Corporation3/5 short3/3 long−7.3%+0.2%+5.0%+12.6%+18.0%+395%+839%+12,166%51.9%1.12−66.3%—$5.1T—
EBAY QualifiedeBay Inc.5/5 short2/3 long+11.7%+10.3%+16.2%+41.5%+29.6%+219%+65.4%+374%32.8%0.47−53.6%—$54B—
COST QualifiedCostco Wholesale Corporation4/5 short2/3 long+13.2%+10.0%+1.8%+19.7%+8.4%+91.8%+123%+692%22.9%0.82−31.4%—$451B—
SHOP QualifiedShopify Inc.3/5 short2/3 long+14.3%+42.6%+27.9%+7.4%+4.2%+231%+18.4%+3,745%66.9%0.38−84.8%—$219B—
MSFT QualifiedMicrosoft Corporation3/5 short2/3 long+4.6%+33.7%+20.9%+10.9%+0.9%+61.9%+75.6%+862%28.2%0.54−37.1%—$3.9T—
WMT Discount StoresWalmart Inc.2/5 short3/3 long+10.0%+11.0%−6.4%+8.1%+14.0%+133%+161%+521%22.6%0.97−25.7%—$964B—
GOOG Internet Content & InformationAlphabet Inc.1/5 short3/3 long−7.7%−6.1%−4.9%+1.9%+27.4%+135%+134%+696%32.0%0.69−44.6%—$3.9T—
ETSY Specialty RetailEtsy, Inc.5/5 short1/3 long+20.9%+12.8%+37.5%+58.6%+24.0%+41.6%−62.4%+544%55.4%-0.08−86.3%—$8.3B—
W Specialty RetailWayfair Inc.4/5 short1/3 long+5.7%+34.6%+40.8%+6.5%+39.2%+168%−52.0%+210%81.8%0.23−93.0%—$16B—
FDX Integrated Freight & LogisticsFedEx Corporation3/5 short1/3 long+2.7%−5.0%−1.8%+29.8%+59.7%+67.8%+78.3%+156%32.8%0.52−66.0%—$72B—
MELI Specialty RetailMercadoLibre, Inc.1/5 short1/3 long−0.1%+1.4%−1.9%−7.5%−12.9%+54.6%+21.4%+959%49.5%0.33−69.1%—$93B—
BURL Apparel - RetailBurlington Stores, Inc.0/5 short1/3 long−1.6%−28.6%−25.0%−15.3%−4.2%+114%−9.2%+236%44.5%0.18−68.9%—$16B—
BBY Specialty RetailBest Buy Co., Inc.5/5 short0/3 long+5.3%+15.8%+60.9%+50.0%+29.2%+69.4%+6.5%+264%38.2%0.22−52.6%—$21B—
TGT Discount StoresTarget Corporation5/5 short0/3 long−0.6%+15.5%+23.1%+61.7%+75.0%+64.3%−27.8%+213%36.1%0.00−64.4%—$72B—
UPS Integrated Freight & LogisticsUnited Parcel Service, Inc.3/5 short0/3 long+5.9%−11.0%−0.4%+5.3%+24.2%−18.6%−36.9%+38.2%28.9%-0.17−57.9%—$76B—
CHWY Specialty RetailChewy, Inc.2/5 short0/3 long+13.6%+3.8%−17.4%−33.3%−38.3%+32.6%−65.9%—61.0%-0.05−87.4%—$9.0B—
JD Specialty RetailJD.com, Inc.0/5 short0/3 long−6.2%−14.8%−16.1%−10.0%−18.1%+13.4%−64.8%+10.5%52.7%-0.14−79.1%—$35B—
BABA Specialty RetailAlibaba Group Holding Limited0/5 short0/3 long−12.5%−12.6%−24.7%−34.0%−38.0%+34.4%−39.1%+3.5%51.3%0.06−80.1%—$253B—
CPNG Specialty RetailCoupang, Inc.0/5 short0/3 long−4.2%−10.5%−32.1%−40.1%−55.1%−21.0%−51.8%—52.1%-0.02−81.5%—$25B—
PDD Specialty RetailPDD Holdings Inc.0/5 short0/3 long−1.5%−5.3%−20.9%−31.6%−39.1%−24.0%−20.1%—66.0%0.25−87.4%—$112B—
SE Specialty RetailSea Limited0/5 short0/3 long−27.0%−27.8%−12.3%−42.4%−51.7%+70.2%−78.7%—64.6%-0.16−90.5%—$46B—
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How did AMZN do year by year?

This table shows each investment's total return in every full calendar year since 1998, along with where AMZN ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with AMZN and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

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

InvestmentYears ahead of AMZN2025202420232022202120202019201820172016201520142013201220112010200920082007200620052004200320022001200019991998
AMZN This pageAmazon.com, Inc.—+5.2%+44.4%+80.9%−49.6%+2.4%+76.3%+23.0%+28.4%+56.0%+10.9%+118%−22.2%+59.0%+45.0%−3.9%+33.7%+163%−44.7%+135%−16.5%+6.8%−16.0%+178%+74.6%−30.5%−79.6%+42.2%+968%
Rank among alternativesTop quarter in 12 of 2813 of 226 of 225 of 2217 of 2213 of 2110 of 2117 of 204 of 199 of 1811 of 182 of 1613 of 132 of 122 of 127 of 121 of 122 of 127 of 121 of 1110 of 114 of 1110 of 101 of 101 of 1010 of 1010 of 105 of 81 of 7
SPY S&P 500State Street SPDR S&P 500 ETF12 of 28+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%
NVDA NVIDIA Corporation14 of 26+38.9%+171%+239%−50.2%+125%+122%+76.4%−30.8%+82.5%+228%+67.1%+27.4%+33.5%−11.0%−10.0%−17.6%+131%−76.3%+37.9%+102%+55.2%+1.6%+102%−82.8%+308%+39.6%——
EBAY eBay Inc.11 of 27+42.7%+44.8%+7.7%−36.5%+33.8%+41.2%+30.6%−25.6%+27.1%+8.1%+16.3%+2.3%+7.6%+68.0%+9.0%+18.3%+68.2%−57.9%+10.4%−30.4%−25.7%+80.1%+90.3%+1.5%+103%−47.3%+55.8%—
COST Costco Wholesale Corporation10 of 28−5.4%+39.6%+49.0%−19.1%+51.8%+32.7%+45.7%+10.6%+22.4%+0.3%+18.9%+20.5%+21.9%+28.4%+16.7%+23.7%+14.3%−24.0%+33.2%+7.9%+3.2%+31.1%+32.5%−36.8%+11.1%−12.5%+26.4%+61.8%
SHOP Shopify Inc.8 of 10+51.4%+36.5%+124%−74.8%+21.7%+185%+187%+37.1%+135%+66.3%——————————————————
MSFT Microsoft Corporation11 of 28+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%+5.8%−4.5%−6.5%+60.5%−44.4%+20.8%+15.8%−1.0%+9.2%+6.2%−22.0%+52.8%−62.9%+68.4%+115%
WMT Walmart Inc.13 of 28+24.5%+74.0%+12.9%−0.5%+1.9%+23.4%+30.1%−3.4%+46.6%+16.1%−26.6%+11.8%+18.2%+17.1%+13.8%+3.1%−2.5%+20.0%+4.9%+0.2%−10.2%+0.6%+5.6%−11.8%+8.9%−22.7%+70.5%+107%
GOOG Alphabet Inc.8 of 21+65.4%+35.6%+58.8%−38.7%+65.2%+31.0%+29.1%−1.0%+35.6%+1.7%+44.5%−6.0%+58.5%+9.5%+8.8%−4.2%+101%−55.5%+50.2%+11.1%+115%———————
ETSY Etsy, Inc.6 of 10+4.8%−34.7%−32.3%−45.3%+23.1%+302%−6.9%+133%+73.6%+42.6%——————————————————
W Wayfair Inc.5 of 11+127%−28.2%+87.6%−82.7%−15.9%+150%+0.3%+12.2%+129%−26.4%+140%—————————————————
FDX FedEx Corporation8 of 28+5.1%+13.5%+49.1%−31.6%+0.7%+74.3%−4.8%−34.7%+35.2%+26.1%−13.7%+21.4%+57.6%+10.5%−9.7%+12.1%+31.1%−27.7%−17.6%+5.4%+5.3%+46.4%+24.9%+4.8%+61.0%−2.4%−8.2%+46.0%
MELI MercadoLibre, Inc.10 of 18+18.4%+8.2%+85.7%−37.2%−19.5%+193%+95.3%−6.9%+102%+37.1%−10.1%+19.2%+38.0%−0.7%+19.9%+28.5%+216%−77.8%——————————
BURL Burlington Stores, Inc.7 of 12+1.3%+46.6%−4.1%−30.4%+11.5%+14.7%+40.2%+32.2%+45.2%+97.5%−9.2%+47.7%————————————————
BBY Best Buy Co., Inc.13 of 28−17.8%+14.4%+2.5%−17.5%+4.4%+16.7%+70.5%−20.6%+64.5%+46.5%−18.8%+0.1%+244%−47.3%−30.3%−11.8%+43.2%−45.9%+7.8%+13.9%+10.8%+14.6%+117%−51.3%+152%−41.2%+63.7%+233%
TGT Target Corporation9 of 28−24.5%−2.3%−1.4%−34.2%+32.9%+40.5%+100%+4.7%−5.8%+2.7%−1.6%+23.8%+9.5%+18.2%−13.0%+26.3%+42.4%−30.0%−11.6%+4.7%+6.6%+36.1%+29.0%−26.5%+28.0%−11.5%+36.2%+62.2%
UPS United Parcel Service, Inc.11 of 26−15.9%−15.9%−6.0%−16.2%+30.0%+48.6%+24.2%−15.5%+7.1%+22.7%−10.9%+8.7%+46.5%+3.9%+3.8%+30.3%+7.8%−19.8%−3.5%+1.8%−10.5%+16.4%+19.9%+17.3%−6.0%−13.8%——
CHWY Chewy, Inc.2 of 6−1.3%+41.7%−36.3%−37.1%−34.4%+210%——————————————————————
JD JD.com, Inc.4 of 11−14.9%+23.5%−47.8%−17.9%−20.3%+149%+68.3%−49.5%+62.9%−21.2%+39.4%—————————————————
BABA Alibaba Group Holding Limited4 of 11+75.8%+11.8%−10.8%−25.9%−49.0%+9.7%+54.7%−20.5%+96.4%+8.1%−21.8%—————————————————
CPNG Coupang, Inc.1 of 4+7.3%+35.8%+10.1%−49.9%————————————————————————
PDD PDD Holdings Inc.4 of 7+16.9%−33.7%+79.4%+39.9%−67.2%+370%+68.5%—————————————————————
SE Sea Limited5 of 8+20.2%+162%−22.2%−76.7%+12.4%+395%+255%−15.1%————————————————————
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Risk and diversification

How AMZN 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 AMZN's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents AMZN's five deepest drawdowns since it began trading in 1997, 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.

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

DuringAMZN fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−94.4%−24.7%Dec 1999Sep 200121 monthsOct 20098.1 years
No named crash−59.2%−3.9%Apr 1999Aug 19994 monthsDec 19994 months
2022 bear market−56.1%−10.6%Jul 2021Dec 202217 monthsApr 202416 months
No named crash−51.5%−2.2%Jan 1999Feb 19991 monthApr 19992 months
No named crash−47.6%−10.3%Jul 1998Sep 19982 monthsNov 19982 months

How did AMZN do in stock market crashes?

This section measures how far AMZN, 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.

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

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
AMZN This pageAmazon.com, Inc.—−3.4%−39.6%−22.7%−33.2%−7.1%−30.6%−20.7%−2.9%−65.3%−91.8%
SPY S&P 500State Street SPDR S&P 500 ETF8 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
NVDA NVIDIA Corporation3 of 10−5.0%−60.7%−37.5%−55.9%−8.5%−25.3%−23.8%−1.7%−85.1%−89.7%
EBAY eBay Inc.3 of 10−6.6%−44.2%−31.6%−23.2%−7.4%−25.6%−21.8%−3.5%−74.7%−77.1%
COST Costco Wholesale Corporation9 of 10−3.1%−31.4%−13.7%−20.8%−6.5%−15.2%−13.5%−1.2%−48.0%−50.1%
SHOP Shopify Inc.2 of 6−5.1%−79.0%−40.7%−27.6%−5.4%−49.2%————
MSFT Microsoft Corporation7 of 10−2.0%−31.0%−27.7%−18.2%−7.4%−14.4%−14.1%−2.6%−57.9%−62.9%
WMT Walmart Inc.10 of 10−0.8%−25.7%−13.1%−18.3%−4.9%−22.3%−10.5%−1.5%−26.2%−31.8%
GOOG Alphabet Inc.4 of 9−3.9%−35.0%−30.8%−18.9%−9.9%−12.7%−21.1%−1.1%−65.3%—
ETSY Etsy, Inc.2 of 6−8.4%−65.7%−49.3%−25.1%−5.6%−63.3%————
W Wayfair Inc.1 of 6−15.8%−83.8%−71.4%−45.5%−3.3%−40.5%————
FDX FedEx Corporation2 of 10−5.3%−45.3%−44.9%−38.1%−8.0%−27.0%−29.7%−3.3%−67.8%−30.0%
MELI MercadoLibre, Inc.2 of 9−7.2%−51.6%−39.1%−30.3%−8.8%−31.9%−39.5%0.0%−89.5%—
BURL Burlington Stores, Inc.3 of 6−4.8%−61.5%−51.4%−15.6%−3.7%−26.8%————
BBY Best Buy Co., Inc.3 of 10−6.6%−40.7%−44.3%−39.7%−4.5%−33.1%−25.2%−1.1%−66.9%−74.1%
TGT Target Corporation8 of 10−3.4%−43.9%−21.7%−30.3%−3.0%−15.8%−10.4%−1.3%−60.6%−42.6%
UPS United Parcel Service, Inc.9 of 10−1.5%−29.8%−18.5%−23.7%−8.7%−16.4%−16.4%−1.6%−47.9%−26.5%
CHWY Chewy, Inc.0 of 3−3.7%−57.1%−26.2%———————
JD JD.com, Inc.3 of 6−14.6%−45.1%−21.0%−27.3%−8.2%−29.9%————
BABA Alibaba Group Holding Limited3 of 6−4.7%−45.1%−20.6%−20.7%−7.3%−29.1%————
CPNG Coupang, Inc.0 of 2−7.3%−64.7%————————
PDD PDD Holdings Inc.1 of 4−7.9%−61.4%−15.7%−38.1%——————
SE Sea Limited1 of 5−8.0%−73.3%−27.7%−26.4%−8.8%—————
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How closely does AMZN 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 AMZN 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 AMZN's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
AMZN This pageAmazon.com, Inc.134%139%0.961.31
WMT Walmart Inc.74%36%2.080.53
COST Costco Wholesale Corporation93%50%1.850.77
NVDA NVIDIA Corporation248%140%1.771.83
MSFT Microsoft Corporation127%91%1.390.96
MELI MercadoLibre, Inc.135%111%1.211.44
GOOG Alphabet Inc.132%110%1.201.12
SHOP Shopify Inc.233%203%1.152.09
TGT Target Corporation83%87%0.951.00
ETSY Etsy, Inc.133%148%0.901.76
EBAY eBay Inc.113%133%0.851.23
BURL Burlington Stores, Inc.103%121%0.851.22
BBY Best Buy Co., Inc.127%164%0.771.40
FDX FedEx Corporation116%166%0.701.29
W Wayfair Inc.230%356%0.653.06
UPS United Parcel Service, Inc.85%149%0.571.08
JD JD.com, Inc.51%92%0.560.57
BABA Alibaba Group Holding Limited74%140%0.530.65
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What diversifies AMZN?

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

ETFs

InvestmentCorrelation5Y returnSharpe2022201420112008200620042001200080/20 mix volatility80/20 mix annual return
AMZN Amazon.com, Inc. (this page)1.00+50.1%0.41−49.6%−22.2%−3.9%−44.7%−16.5%−16.0%−30.5%−79.6%34.0%+8.7%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.13+119%1.48+3.8%———————27.5%+11.3%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.28+225%1.34+6.0%+8.1%−16.1%−20.8%————28.0%+13.1%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.27+103%1.06+10.4%+23.8%——————28.1%+10.9%
HDV Dividend & IncomeiShares Core High Dividend ETF0.10+86.8%1.03+7.0%+12.6%——————27.6%+10.4%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.39+83.6%0.95−5.1%+3.4%——————28.1%+10.5%
XLE EnergyState Street Energy Select Sector SPDR ETF0.05+178%0.94+64.4%−8.7%+2.8%−39.0%+18.0%+33.8%−18.2%+24.4%27.9%+12.9%
GLD CommoditiesSPDR Gold Shares0.04+120%0.93−0.8%−2.2%+9.6%+4.9%+22.6%———27.5%+11.7%
DFIV InternationalDimensional - International Value ETF0.23+99.4%0.93−3.7%———————28.1%+11.0%

Stocks

InvestmentCorrelation5Y returnSharpe2022201420112008200620042001200080/20 mix volatility80/20 mix annual return
AMZN Amazon.com, Inc. (this page)1.00+50.1%0.41−49.6%−22.2%−3.9%−44.7%−16.5%−16.0%−30.5%−79.6%34.0%+8.7%
CAH Medical - DistributionCardinal Health, Inc.0.02+471%1.54+54.1%+23.0%+8.1%−39.6%−5.8%−4.7%−2.5%+108%27.8%+15.6%
CLS Hardware, Equipment & PartsCelestica Inc.0.47+2,780%1.43+1.3%+12.9%−24.4%−20.5%−26.0%−6.4%−25.6%−2.3%34.2%+26.7%
MCK Medical - DistributionMcKesson Corporation0.02+397%1.41+51.8%+29.3%+11.8%−40.4%−1.2%−1.4%+4.9%+61.2%27.7%+15.0%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.39+1,452%1.41+17.0%−10.4%−17.0%−15.2%+38.9%+40.0%+73.7%−71.1%31.7%+23.3%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.11+660%1.39+86.6%+0.4%——————28.6%+17.5%
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Common questions

What was AMZN's worst drawdown?

AMZN's deepest decline since it began trading in 1997 was 94.4%, from December 1999 to September 2001. It took about eight years from the low to climb back to its old high.

What were AMZN's best and worst years?

Over 28 full calendar years, AMZN's best year was 1998, when it returned 968%. Its worst was 2000, with a return of -79.6%.

Is there a better investment than AMZN?

Among AMZN's popular alternatives, COST, MSFT and WMT earned more than AMZN with less volatility over the past 5 years. COST returned 17.4% a year at 22.9% volatility, against 8.5% a year at 36.6%. Looking beyond its popular alternatives, MA (payment processing) and FOXA (video streaming theme) earned more than AMZN with less volatility over the past 5 years. MA returned 12.7% a year at 23.8% volatility, against 8.5% a year at 36.6%.

Is AMZN more volatile than the S&P 500?

Yes. AMZN's volatility over the past 5 years was 36.6%, 2.1 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, AMZN's return lands within 36.6% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is AMZN's Sharpe ratio?

AMZN's Sharpe ratio over the past 5 years was 0.41, against 0.78 for the S&P 500, so AMZN 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 AMZN with the S&P 500?

Over the past 5 years, AMZN's monthly returns had a correlation of 0.67 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 AMZN instead: the lower it is, the more that option would diversify a AMZN holding.

What are the best alternatives to AMZN?

Of the 21 popular alternatives we compared, five outperformed AMZN in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: NVDA, EBAY and COST.

Did AMZN outperform the S&P 500?

AMZN finished ahead of the S&P 500 (SPY) in 16 of 28 full calendar years. In 2025, it returned +5.2%, against +17.7% for the index.

How did AMZN do in stock market crashes?

AMZN fell less than the S&P 500 (SPY) in one of the ten major crashes it has traded through, and further in eight. The clearest case was the dot-com bust, when AMZN fell 91.8% and the S&P 500 fell 47.5%.

What diversifies AMZN?

These had a low correlation with AMZN over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.13), DXJ (correlation 0.28) and EMLP (correlation 0.27); among large stocks, CAH (correlation 0.02), CLS (correlation 0.47) and MCK (correlation 0.02). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to AMZN