Relative Intelligence · Banks
How Banco Bradesco (BBDO) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on BBDO alone. It places BBDO (Banco Bradesco S.A.) 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 BBDO stands in the market, and of the alternatives worth a closer look.
Period covered: BBDO's full trading record, from March 2012 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 22, 2026.
Data as of October 22, 2026. Full tables and charts read best on a larger screen.
This page answers the following questions about BBDO
Key findings
Not AI-generatedThese key findings are generated by our proprietary relative intelligence engine, directly from the data on this page.
- Right nowThe slide is BBDO's own: it is 42.2% below its high, against 1.9% for the S&P 500. That said, BBDO has outpaced the market, rising 13.5% over the past 3 months against 2.5% for the S&P 500. At a glance ↓
- Stock or market?Not a move of its own: the banks ETF EWZ (iShares MSCI Brazil ETF) rose 14.3% over the past 3 months, with ITUB (Itaú Unibanco Holding, up 12.0%) and BBD (Banco Bradesco, up 8.2%), against 2.5% for the S&P 500. BBDO rose 15.0% last month as the S&P 500 fell 1.2% and the Nasdaq 100 fell 5.8%.
- Past 1 to 3 yearsOver the past year, BBDO rose 39.4% against 15.6% for the S&P 500 and 16.9% for the Nasdaq 100. A behind 87% of stocks worth at least $300 million over 10 years, but ahead of 63% of the stocks worth at least $300 million over 3 years. By year ↓
- Long termBBDO turned $10,000 into $7,860 over the past decade, against $41,600 in the S&P 500. BBDO's 10-year loss of 21.4% puts it behind 87% of the stocks worth at least $300 million with that much history. The S&P 500 returned 316%. Growth of $10,000 ↓
- In a crashAcross four sell-offs, BBDO has typically fallen 1.8 times as far as the S&P 500. Crash tests ↓
- DiversificationAgainst the S&P 500, BBDO has a correlation of 0.22 over 5 years, less closely than 83% of stocks worth at least $300 million. Next to an index fund it is a real diversifier. Even so, over 10 years, BBDO's beta versus the S&P 500 was 0.84: in the S&P 500's rising months it gained 54% as much as the index, and in falling months it lost 1.2 times as much. Market capture ↓
- Better options
- Nearby categories and themes
- RY (Royal Bank of Canada, banks) and PBAM (Private Bancorp of America, regional banks) earned more than BBDO with less volatility over the past 5 years. RY returned 17.5% a year at 18.2% volatility, against 10.8% a year at 43.1%.
- Whole market
- 697 of the 3,641 stocks and funds worth at least $500 million earned more than BBDO with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and MSFT (Microsoft).
How much would $10,000 in BBDO have grown?
This chart tracks a hypothetical $10,000 investment in BBDO over the past 14 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of BBDO over the same span and BBDO'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: BBDO began trading on March 13, 2012, so the chart cannot reach back to the dot-com bust, the 2008 financial crisis or two other sell-offs. It covers the most recent 14 years of BBDO's record, starting at the end of September 2012.
- $10,000 invested in BBDO at the end of September 2012 would have grown to $7,568 by September 2026, less than the $67,346 it would have become in SPY, an S&P 500 fund.
- All eight other investments on the chart ended ahead of BBDO, and GGAL finished highest, at $87,418.
Choose a period
From the end of September 2012 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. 2,077 of the 2,216 stocks and funds worth at least $500 million that traded the whole period ended ahead of BBDO; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- GGAL$87,418+774% total · +16.8% a year
- SPY (S&P 500)$67,346+573% total · +14.6% a year
- BLX$58,162+482% total · +13.4% a year
- BAP$49,846+398% total · +12.2% a year
- SAN$40,554+306% total · +10.5% a year
- ITUB$32,434+224% total · +8.8% a year
- CIB$31,964+220% total · +8.7% a year
- BCH$29,461+195% total · +8.0% a year
- BSAC$23,248+132% total · +6.2% a year
- BBDO$7,568−24.3% total · −2.0% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,895 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of BBDO; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- SAN$45,493+355% total · +35.4% a year
- BAP$44,181+342% total · +34.6% a year
- BLX$42,192+322% total · +33.4% a year
- CIB$41,844+318% total · +33.1% a year
- ITUB$29,014+190% total · +23.7% a year
- BCH$28,909+189% total · +23.7% a year
- BSAC$22,123+121% total · +17.2% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- EWZ$17,118+71.2% total · +11.4% a year
- BBDO$13,363+33.6% total · +6.0% a year
BBDO 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: BBDO began trading on March 13, 2012, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust, the 2008 financial crisis or two other sell-offs.
- BBDO is still 42.2% below its all-time high.
- BBDO's deepest decline since it began trading in 2012 was 76.8%, from September 2014 to December 2024. It has not yet climbed back to that peak.
- Over 13 full calendar years, BBDO's best was 2016, when it returned 81.6%, and its worst was 2015, when it lost 49.0%. It lost money in seven of those years.
The company
- Market value
- $40B
- Industry
- Banks - Regional
- Price history from
- March 2012
Returns
- Past 1 year
- +39.4%total return
- Past 3 years
- +84.2%+22.6% a year
- Past 5 years
- +67.1%+10.8% a year
- Past 10 years
- −21.4%−2.4% a year
- Best calendar year
- +81.6%2016
- Worst calendar year
- −49.0%2015
- Losing years
- 7 of 13full calendar years
Risk
- Volatility
- 43.1%typical yearly swing, 5 years
- Sharpe ratio
- 0.46return per unit of risk, 5 years
- Worst decline ever
- −76.8%Sep 2014 to Dec 2024
- From its all-time high
- −42.2%below the peak
BBDO against the whole market
Where BBDO ranks among every stock and fund, and what across the market has done better.
How does BBDO rank among all stocks?
This section ranks BBDO 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 BBDO stacks up against its peers, these rankings show where it stands in the market as a whole.
- BBDO's 10-year return ranks in the bottom 13% of the 2,201 stocks worth at least $300 million with 10 years of history.
- BBDO's 1-year return ranks in the top 23% of the 3,282 stocks worth at least $300 million with 1 year of history.
Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.
| Measure | BBDO | Rank | Standing |
|---|---|---|---|
| 1-year return | +39.4% | 764 of 3,282 | top 23% |
| 3-year return | +84.2% | 1,110 of 3,016 | top 37% |
| 5-year return | +67.1% | 939 of 2,897 | top 32% |
| 10-year return | −21.4% | 1,920 of 2,201 | bottom 14% |
| Volatility, 5 years | 43.1% | 1,617 of 2,897 | bottom 45% |
| Sharpe ratio, 5 years | 0.46 | 1,078 of 2,897 | top 37% |
| Worst decline, past 10 years | −76.5% | 1,508 of 2,184 | bottom 32% |
What has beaten BBDO 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). BBDO sits where the dashed lines cross. Anything in the green box above and to the left earned more than BBDO 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.
- 468 stocks and 229 ETFs worth at least $500 million sit in the green region: each earned more than BBDO over the past 5 years with smaller price swings. That is 19% of the 3,641 screened.
- Among those with at least half BBDO's swings, CAH has the best return for its risk: 41.7% a year at 24.7% volatility, 43% less than BBDO's 43.1%, and a Sharpe ratio (return above cash per unit of volatility) of 1.54 against 0.46 for BBDO. INSW earned the most, 58.7% a year, while still swinging less than BBDO (40.6% against 43.1%).
- Among BBDO's popular alternatives, BLX, CIB and BAP are in the region. BLX earned 31.0% a year against 10.8% a year for BBDO, at 25.9% volatility, 40% less than BBDO's 43.1%.
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 BBDO; faint dots are 88 more of the 697 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.
- Popular alternatives
- Same and neighboring categories, and shared themes
- The whole market
- Others in the green region
Is there a better investment than BBDO?
Investments that beat BBDO over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among BBDO's popular alternatives, ITUB, BAP and CIB earned more than BBDO with less volatility over the past 5 years. ITUB returned 27.7% a year at 33.7% volatility, against 10.8% a year at 43.1%.
- Looking beyond its popular alternatives, RY (banks) and PBAM (regional banks) earned more than BBDO with less volatility over the past 5 years. RY returned 17.5% a year at 18.2% volatility, against 10.8% a year at 43.1%.
- Across the whole market, 697 of the 3,641 stocks and funds worth at least $500 million earned more than BBDO with less volatility over the past 5 years, among them AAPL, GOOG and MSFT.
How this works
The table below lists investments that beat BBDO 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 BBDO'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 BBDO 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 BBDO'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× BBDO's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than BBDO's.
| Investment | Why it is better | Past 5 years | Downside | Long run | Fit | ||||
|---|---|---|---|---|---|---|---|---|---|
| Annual return?higher is better | Volatility?lower is calmer | Sharpe?return per unit of risk | Worst decline?past 10 years | 10Y returntotal | Corr. with BBDO?lower diversifies more | Expenseper year | |||
| BBDOBanco Bradesco S.A. · this page | +10.8% | 43.1% | 0.46 | −76.5% | −21.4% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.5% | 17.2% | 0.78 | −33.7% | +316% | 0.22 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against BBDO. 9 of 18 passed at least one test. | |||||||||
 ITUBItaú Unibanco Holding S.A. · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +27.7% | 33.7% | 0.90 | −62.1% | +187% | 0.88 | — | |
BAPCredicorp Ltd. · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +29.7% | 30.3% | 1.01 | −59.2% | +281% | 0.46 | — | |
CIBGrupo Cibest S.A. · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +33.5% | 32.9% | 1.04 | −70.4% | +351% | 0.54 | — | |
EWZiShares MSCI Brazil ETF · International Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +15.5% | 27.6% | 0.66 | −57.0% | +84.0% | 0.86 | 0.59% | |
BCHBanco de Chile · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +24.2% | 28.2% | 0.91 | −58.4% | +168% | 0.58 | — | |
BSACBanco Santander-Chile · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +18.3% | 29.0% | 0.73 | −63.9% | +140% | 0.61 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Banks and the categories next to it (Regional Banks, Payment Processing, International Equity, Capital Markets), plus BBDO's specific themes. 276 of 561 passed at least one test. | |||||||||
 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% | 0.37 | — | |
PBAMPrivate Bancorp of America, Inc. · Regional Banks | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +27.5% | 18.9% | 1.40 | −55.1% | +415% | -0.02 | — | |
 MUFGMitsubishi UFJ Financial Group, Inc. · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +33.5% | 29.4% | 1.14 | −54.9% | +485% | 0.15 | — | |
 CMECME Group Inc. · Capital Markets | Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +11.6% | 20.8% | 0.63 | −37.4% | +334% | 0.15 | — | |
GCBCGreene County Bancorp, Inc. · Regional Banks | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +18.1% | 43.2% | 0.60 | −53.1% | +363% | 0.04 | — | |
TFSLTFS Financial Corporation · Regional Banks | Smaller losses in recent crashes | +4.7% | 23.6% | 0.31 | −42.9% | +82.2% | 0.34 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,163 of 3,194 passed at least one test. | |||||||||
 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% | 0.26 | — | |
 TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +31.0% | 38.6% | 0.90 | −56.6% | +1,440% | 0.06 | — | |
 LLYEli Lilly and Company · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +41.2% | 32.8% | 1.22 | −34.5% | +1,870% | 0.01 | — | |
 XOMExxonmobil Holdings Corporation · Integrated Oil & Gas | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +27.5% | 26.5% | 1.05 | −61.0% | +216% | 0.27 | — | |
 JNJJohnson & Johnson · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +13.5% | 18.0% | 0.80 | −27.4% | +209% | 0.25 | — | |
 GLDSPDR Gold Shares · Gold | Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes | +17.1% | 19.0% | 0.93 | −26.4% | +206% | 0.17 | 0.40% | |
 PANWPalo Alto Networks, Inc. · Cybersecurity | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +33.4% | 43.4% | 0.89 | −48.0% | +1,306% | -0.04 | — | |
FBTFirst Trust NYSE Arca Biotechnology Index Fund · Biotechnology | Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +10.8% | 22.2% | 0.58 | −33.3% | +205% | 0.15 | 0.55% | |
What these numbers mean for BBDO
- Annual return
- BBDO returned 10.8% 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 $16,700. 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
- BBDO's volatility over the past 5 years was 43.1%, 2.5 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BBDO's return lands within 43.1% 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
- BBDO's Sharpe ratio over the past 5 years was 0.46, against 0.78 for the S&P 500, so BBDO 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
- BBDO's worst fall from a peak to a low over the past 10 years was 76.5%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 76.5% fall takes a 326% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, BBDO's monthly returns had a correlation of 0.22 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against BBDO instead: the lower it is, the more that option would diversify a BBDO holding. Guide: Correlation and diversification →
Show all 697 stocks and funds worth at least $500 million that earned more than BBDO 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.
| # | Investment | Found in | Annual return | Volatility | Sharpe | Worst decline | 10Y return | Corr. with BBDO | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | CAHCardinal Health, Inc. · Health Care Distribution | Whole market | +41.7% | 24.7% | 1.54 | −46.1% | +345% | 0.26 | — |
| 2 | TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors | Whole market | +31.0% | 38.6% | 0.90 | −56.6% | +1,440% | 0.06 | — |
| 3 | LLYEli Lilly and Company · Pharmaceuticals | Whole market | +41.2% | 32.8% | 1.22 | −34.5% | +1,870% | 0.01 | — |
| 4 | XOMExxonmobil Holdings Corporation · Integrated Oil & Gas | Whole market | +27.5% | 26.5% | 1.05 | −61.0% | +216% | 0.27 | — |
| 5 | ITUBItaú Unibanco Holding S.A. · Banks | Popular alternative | +27.7% | 33.7% | 0.90 | −62.1% | +187% | 0.88 | — |
| 6 | BAPCredicorp Ltd. · Banks | Popular alternative | +29.7% | 30.3% | 1.01 | −59.2% | +281% | 0.46 | — |
| 7 | JNJJohnson & Johnson · Pharmaceuticals | Whole market | +13.5% | 18.0% | 0.80 | −27.4% | +209% | 0.25 | — |
| 8 | RYRoyal Bank of Canada · Banks | Same or nearby category | +17.5% | 18.2% | 0.98 | −40.0% | +361% | 0.37 | — |
| 9 |  KOThe Coca-Cola Company · Nonalcoholic Beverages | Whole market | +15.2% | 16.8% | 0.93 | −37.0% | +205% | 0.19 | — |
| 10 |  CVXChevron Corporation · Integrated Oil & Gas | Whole market | +19.7% | 25.2% | 0.84 | −55.8% | +243% | 0.25 | — |
| 11 |  CSCOCisco Systems, Inc. · Communications Equipment | Whole market | +16.9% | 26.1% | 0.73 | −42.0% | +361% | -0.06 | — |
| 12 |  SHELShell plc · Integrated Oil & Gas | Whole market | +21.4% | 24.8% | 0.91 | −67.2% | +236% | 0.33 | — |
| 13 | INSWInternational Seaways, Inc. · Oil & Gas | Whole market | +58.7% | 40.6% | 1.35 | −57.4% | — | 0.16 | — |
| 14 |  MRKMerck & Co., Inc. · Pharmaceuticals | Whole market | +16.1% | 24.8% | 0.73 | −43.4% | +245% | 0.05 | — |
| 15 |  MCKMcKesson Corporation · Health Care Distribution | Whole market | +37.8% | 25.1% | 1.41 | −38.1% | +582% | 0.15 | — |
| 16 |  AMGNAmgen Inc. · Biotechnology | Whole market | +20.1% | 24.9% | 0.86 | −24.9% | +280% | 0.21 | — |
| 17 |  GILDGilead Sciences, Inc. · Biotechnology | Whole market | +22.8% | 24.9% | 0.95 | −30.5% | +202% | 0.13 | — |
| 18 |  SAPSAP SE · Enterprise Software | Whole market | +12.9% | 30.0% | 0.56 | −52.5% | +217% | 0.00 | — |
| 19 |  PSXPhillips 66 · Oil Refining | Whole market | +32.7% | 32.9% | 1.03 | −64.2% | +413% | 0.27 | — |
| 20 |  COPConocoPhillips · Exploration & Production | Whole market | +18.2% | 32.6% | 0.68 | −70.7% | +369% | 0.33 | — |
| 21 |  DEDeere & Company · Industrial Machinery | Whole market | +15.1% | 29.9% | 0.62 | −37.9% | +764% | 0.33 | — |
| 22 |  TRVThe Travelers Companies, Inc. · Property & Casualty Insurance | Whole market | +22.4% | 22.3% | 1.02 | −46.3% | +360% | 0.32 | — |
| 23 |  EEni S.p.A. · Integrated Oil & Gas | Whole market | +23.7% | 25.6% | 0.96 | −61.4% | +283% | 0.30 | — |
| 24 |  MARMarriott International, Inc. · Hotels & Resorts | Whole market | +21.7% | 28.6% | 0.83 | −61.3% | +544% | 0.20 | — |
| 25 |  BPBP p.l.c. · Integrated Oil & Gas | Whole market | +16.8% | 28.7% | 0.69 | −63.9% | +145% | 0.26 | — |
| 26 |  MFCManulife Financial Corporation · Life Insurance | Whole market | +23.3% | 24.0% | 1.00 | −57.5% | +386% | 0.32 | — |
| 27 |  GWWW.W. Grainger, Inc. · Industrial Distribution | Whole market | +26.7% | 24.9% | 1.08 | −41.6% | +670% | 0.10 | — |
| 28 |  LMTLockheed Martin Corporation · Aerospace & Defense | Whole market | +12.5% | 24.4% | 0.61 | −36.7% | +226% | 0.33 | — |
| 29 |  EQNREquinor ASA · Integrated Oil & Gas | Whole market | +20.1% | 34.4% | 0.71 | −66.8% | +422% | 0.22 | — |
| 30 |  SMHVanEck Semiconductor ETF · Semiconductors | Whole market | +32.2% | 37.0% | 0.94 | −45.3% | +1,570% | 0.08 | 0.35% |
| 31 |  MSIMotorola Solutions, Inc. · Communications Equipment | Whole market | +15.2% | 23.6% | 0.72 | −32.8% | +639% | 0.14 | — |
| 32 |  ROSTRoss Stores, Inc. · Apparel Retail | Whole market | +17.8% | 29.5% | 0.71 | −51.4% | +311% | 0.06 | — |
| 33 |  WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery | Whole market | +25.2% | 26.3% | 0.99 | −64.1% | +258% | 0.36 | — |
| 34 |  EMREmerson Electric Co. · Industrial Machinery | Whole market | +12.9% | 27.7% | 0.58 | −50.8% | +307% | 0.09 | — |
| 35 |  FASTFastenal Company · Industrial Distribution | Whole market | +16.2% | 24.6% | 0.74 | −30.7% | +582% | 0.07 | — |
| 36 |  XLEState Street Energy Select Sector SPDR ETF · Energy Equity | Whole market | +22.7% | 25.5% | 0.94 | −66.8% | +190% | 0.32 | 0.08% |
| 37 |  TAKTakeda Pharmaceutical Company Limited · Specialty Pharmaceuticals | Whole market | +12.3% | 19.4% | 0.70 | −54.4% | +33.3% | 0.24 | — |
| 38 |  NUENucor Corporation · Steel | Whole market | +22.1% | 37.4% | 0.72 | −57.2% | +569% | 0.10 | — |
| 39 | STLDSteel Dynamics, Inc. · Steel | Whole market | +32.4% | 38.0% | 0.93 | −68.5% | +1,019% | 0.13 | — |
| 40 |  GRMNGarmin Ltd. · Computer Hardware | Whole market | +14.8% | 31.6% | 0.59 | −54.6% | +678% | 0.20 | — |
| 41 |  IXORIX Corporation · Diversified Financials | Whole market | +18.3% | 25.4% | 0.79 | −42.5% | +286% | 0.28 | — |
| 42 | SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Broad Commodities | Whole market | +21.1% | 18.4% | 1.14 | −45.7% | — | 0.18 | 0.80% |
| 43 |  NTAPNetApp, Inc. · Computer Hardware | Whole market | +20.6% | 35.3% | 0.71 | −58.1% | +696% | 0.14 | — |
| 44 |  FMXFomento Económico Mexicano, S.A.B. de C.V. · Convenience Stores | Whole market | +14.0% | 25.7% | 0.64 | −45.5% | +78.2% | 0.28 | — |
| 45 | KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages | Whole market | +22.4% | 24.7% | 0.95 | −55.1% | +119% | 0.22 | — |
| 46 | MUFGMitsubishi UFJ Financial Group, Inc. · Banks | Same or nearby category | +33.5% | 29.4% | 1.14 | −54.9% | +485% | 0.15 | — |
| 47 | RSReliance Steel & Aluminum Co. · Metals & Mining | Whole market | +24.8% | 28.1% | 0.94 | −40.8% | +639% | 0.10 | — |
| 48 | COKECoca-Cola Consolidated, Inc. · Food & Beverages | Whole market | +41.6% | 38.0% | 1.11 | −51.7% | +1,564% | 0.21 | — |
| 49 | RPRXRoyalty Pharma plc · Pharmaceuticals | Whole market | +13.8% | 23.8% | 0.67 | −49.7% | — | 0.06 | — |
| 50 |  VVisa Inc. · Payment Processing | Same or nearby category | +13.2% | 22.9% | 0.66 | −36.4% | +435% | 0.11 | — |
| 51 | DGXQuest Diagnostics Incorporated · Medical Diagnostics | Whole market | +13.0% | 22.5% | 0.66 | −36.6% | +256% | 0.22 | — |
| 52 | FFIVF5, Inc. · Cybersecurity | Whole market | +16.7% | 30.8% | 0.66 | −54.6% | +279% | 0.02 | — |
| 53 | SNXTD Synnex Corp · Technology Distribution | Whole market | +20.2% | 30.4% | 0.76 | −55.8% | +427% | 0.13 | — |
| 54 | RGAReinsurance Group of America, Incorporated · Insurance | Whole market | +20.5% | 27.3% | 0.82 | −65.8% | +206% | 0.20 | — |
| 55 |  MFGMizuho Financial Group, Inc. · Banks | Same or nearby category | +33.9% | 30.6% | 1.11 | −45.7% | +343% | 0.09 | — |
| 56 | MOG-AMoog Inc. · Aerospace Components | Whole market | +35.1% | 32.1% | 1.10 | −63.7% | +540% | 0.12 | — |
| 57 |  MAMastercard Incorporated · Payment Processing | Same or nearby category | +12.7% | 23.8% | 0.62 | −41.0% | +551% | 0.14 | — |
| 58 | PFGPrincipal Financial Group, Inc. · Life Insurance | Whole market | +13.6% | 26.5% | 0.62 | −64.7% | +201% | 0.36 | — |
| 59 |  SMFGSumitomo Mitsui Financial Group, Inc. · Banks | Same or nearby category | +34.0% | 29.4% | 1.15 | −47.6% | +470% | -0.03 | — |
| 60 | EXELExelixis, Inc. · Oncology | Whole market | +25.0% | 35.8% | 0.81 | −57.2% | +478% | -0.06 | — |
| 61 |  TDThe Toronto-Dominion Bank · Banks | Same or nearby category | +16.5% | 20.0% | 0.87 | −42.0% | +319% | 0.39 | — |
| 62 | RNRRenaissanceRe Holdings Ltd. · Insurance | Whole market | +20.6% | 27.9% | 0.81 | −40.7% | +222% | -0.13 | — |
| 63 |  PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas | Whole market | +53.5% | 37.4% | 1.34 | −71.7% | +733% | 0.47 | — |
| 64 | HALOHalozyme Therapeutics, Inc. · Biotechnology | Whole market | +26.2% | 40.4% | 0.78 | −49.1% | +1,255% | 0.08 | — |
| 65 | CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity | Whole market | +14.5% | 26.2% | 0.65 | −33.9% | +461% | 0.06 | 0.58% |
| 66 |  CMCanadian Imperial Bank of Commerce · Banks | Same or nearby category | +19.5% | 21.6% | 0.94 | −47.3% | +409% | 0.42 | — |
| 67 |  MPCMarathon Petroleum Corporation · Oil Refining | Whole market | +50.0% | 33.4% | 1.39 | −79.7% | +1,314% | 0.22 | — |
| 68 | HSTHost Hotels & Resorts, Inc. · Hotel REITs | Whole market | +13.6% | 30.0% | 0.58 | −55.0% | +144% | 0.31 | — |
| 69 | CACICACI International Inc · Business Services | Whole market | +16.8% | 30.0% | 0.67 | −42.9% | +512% | 0.25 | — |
| 70 | VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value | Whole market | +16.2% | 18.4% | 0.91 | −39.5% | +286% | 0.23 | 0.15% |
| 71 | PSOPearson plc · Education Services | Whole market | +18.7% | 27.9% | 0.76 | −58.4% | +159% | 0.10 | — |
| 72 |  BNSThe Bank of Nova Scotia · Banks | Same or nearby category | +13.2% | 20.0% | 0.73 | −46.9% | +191% | 0.30 | — |
| 73 | MSGSMadison Square Garden Sports Corp. · Entertainment | Whole market | +17.5% | 25.7% | 0.76 | −41.6% | +395% | 0.22 | — |
| 74 | NEUNewMarket Corporation · Specialty Chemicals | Whole market | +20.9% | 26.8% | 0.85 | −40.7% | +162% | 0.11 | — |
| 75 | VCTRVictory Capital Holdings, Inc. · Asset Management | Whole market | +27.7% | 35.0% | 0.88 | −45.2% | — | 0.03 | — |
| 76 | ACAArcosa, Inc. · Construction Materials | Whole market | +23.4% | 34.0% | 0.79 | −36.8% | — | 0.25 | — |
| 77 | CBOECboe Global Markets, Inc. · Capital Markets | Same or nearby category | +22.0% | 25.1% | 0.92 | −43.2% | +481% | 0.20 | — |
| 78 | AVTAvnet, Inc. · Technology Distribution | Whole market | +21.5% | 30.8% | 0.79 | −58.4% | +161% | 0.20 | — |
| 79 | KNSLKinsale Capital Group, Inc. · Property & Casualty Insurance | Whole market | +18.9% | 38.8% | 0.64 | −46.8% | +1,690% | 0.01 | — |
| 80 | GLDSPDR Gold Shares · Gold | Whole market | +17.1% | 19.0% | 0.93 | −26.4% | +206% | 0.17 | 0.40% |
| 81 | PDBCInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF · Broad Commodities | Whole market | +12.0% | 19.3% | 0.69 | −40.7% | +152% | 0.14 | 0.74% |
| 82 |  KBKB Financial Group Inc. · Banks | Same or nearby category | +24.2% | 34.4% | 0.80 | −64.1% | +364% | 0.33 | — |
| 83 | NHCNational HealthCare Corporation · Health Care Facilities | Whole market | +31.2% | 28.6% | 1.10 | −35.3% | +385% | 0.24 | — |
| 84 | MATXMatson, Inc. · Marine Shipping | Whole market | +23.5% | 39.5% | 0.73 | −53.6% | +554% | 0.35 | — |
| 85 | DHTDHT Holdings, Inc. · Oil & Gas | Whole market | +40.3% | 39.0% | 1.07 | −39.7% | +1,094% | 0.03 | — |
| 86 | RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity | Whole market | +16.6% | 25.1% | 0.74 | −33.7% | +559% | 0.13 | 0.40% |
| 87 | PSMTPriceSmart, Inc. · Discount Retail | Whole market | +19.7% | 28.1% | 0.78 | −53.2% | +121% | 0.24 | — |
| 88 | HRBH&R Block, Inc. · Tax Preparation | Whole market | +19.2% | 35.0% | 0.67 | −57.7% | +214% | 0.04 | — |
| 89 |  TRGPTarga Resources Corp. · Oil & Gas Midstream | Whole market | +41.8% | 31.7% | 1.27 | −90.8% | +829% | 0.12 | — |
| 90 |  STTState Street Corporation · Banks | Same or nearby category | +14.6% | 29.9% | 0.61 | −59.6% | +213% | 0.28 | — |
| 91 | CNOCNO Financial Group, Inc. · Life Insurance | Whole market | +19.1% | 28.1% | 0.77 | −63.8% | +348% | 0.17 | — |
| 92 | CIBGrupo Cibest S.A. · Banks | Popular alternative | +33.5% | 32.9% | 1.04 | −70.4% | +351% | 0.54 | — |
| 93 | EWTiShares MSCI Taiwan ETF · International Equity | Same or nearby category | +19.8% | 24.3% | 0.87 | −38.9% | +448% | 0.07 | 0.59% |
| 94 | OPLNOPENLANE, Inc. · Auto Auctions | Whole market | +20.6% | 39.6% | 0.67 | −64.5% | +156% | 0.03 | — |
| 95 |  MSFTMicrosoft Corporation · Software | Whole market | +11.9% | 28.2% | 0.54 | −37.1% | +862% | 0.04 | — |
| 96 | HURNHuron Consulting Group Inc. · Consulting Services | Whole market | +31.3% | 40.8% | 0.87 | −51.4% | +238% | 0.06 | — |
| 97 | DIVBiShares Core Dividend ETF · High Dividend Yield | Whole market | +14.6% | 15.5% | 0.96 | −36.9% | — | 0.28 | 0.05% |
| 98 | DCODucommun Incorporated · Aerospace Components | Whole market | +27.2% | 34.6% | 0.87 | −70.8% | +688% | 0.11 | — |
| 99 |  ETREntergy Corporation · Electric Utilities | Whole market | +19.8% | 22.4% | 0.92 | −42.0% | +326% | 0.05 | — |
| 100 |  CCEPCoca-Cola Europacific Partners PLC · Food & Beverages | Whole market | +20.4% | 23.3% | 0.92 | −48.8% | +294% | 0.19 | — |
BBDO against its popular alternatives
The investments people most often weigh against BBDO, compared period by period and year by year.
How do BBDO'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 BBDO, which divides the map into what did better or worse on each measure.
- Nine of the 18 popular alternatives, led by CIB, SAN and BLX, were both more rewarding and calmer than BBDO over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, BBDO returned 10.8% a year, less than the S&P 500's 12.5%, with higher volatility (43.1% against 17.2%).
Green points earned more than BBDO with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| BMA Banco Macro S.A. | +36.6% | 59.3% |
| BBAR Banco BBVA Argentina S.A. | +33.6% | 64.8% |
| CIB Grupo Cibest S.A. | +33.5% | 32.9% |
| GGAL Grupo Financiero Galicia S.A. | +32.4% | 58.3% |
| SAN Banco Santander, S.A. | +31.8% | 33.9% |
| BLX Bladex, Inc. | +31.1% | 25.9% |
| BAP Credicorp Ltd. | +29.7% | 30.3% |
| ITUB Itaú Unibanco Holding S.A. | +27.7% | 33.7% |
| SUPV Grupo Supervielle S.A. | +25.2% | 71.2% |
| BCH Banco de Chile | +24.2% | 28.2% |
| BSAC Banco Santander-Chile | +18.3% | 29.0% |
| EWZ iShares MSCI Brazil ETF | +15.5% | 27.6% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.5% | 17.2% |
| BBD Banco Bradesco S.A. | +12.1% | 39.2% |
| BBDO This pageBanco Bradesco S.A. | +10.8% | 43.1% |
| AVAL Grupo Aval Acciones y Valores S.A. | +8.3% | 43.2% |
| BSBR Banco Santander (Brasil) S.A. | +0.2% | 34.2% |
| XP XP Inc. | −0.2% | 51.5% |
| STNE StoneCo Ltd. | −18.2% | 65.1% |
| PAGS PagSeguro Digital Ltd. | −19.7% | 60.6% |
Has BBDO consistently beaten its popular alternatives?
This section compares BBDO 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 BBDO helps separate lasting outperformance from a single strong stretch.
- Three of the 20 popular alternatives, CIB, BAP and ITUB, outperformed BBDO in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- CIB outperformed BBDO in every long-term period and in all but one short-term period, the most consistent record in the group.
- BLX, CIB and BAP earned more for the risk they took than BBDO (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
A green cell means the alternative earned more than BBDO over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| BBDO Banco Bradesco S.A. (this page) | — | +15.0% | +13.5% | +4.3% | +33.2% | +39.4% | +84.2% | +67.1% | −21.4% | 43.1% | 0.46 | −76.5% | — | $40B | — |
| CIB QualifiedGrupo Cibest S.A. | 4/5 short3/3 longAll-weather | +0.1% | +15.9% | +35.7% | +60.7% | +84.5% | +405% | +324% | +351% | 32.9% | 1.04 | −70.4% | — | $23B | — |
| BAP QualifiedCredicorp Ltd. | 3/5 short3/3 long | −5.6% | −5.7% | +16.3% | +35.8% | +53.7% | +258% | +267% | +281% | 30.3% | 1.01 | −59.2% | — | $29B | — |
| ITUB QualifiedItaú Unibanco Holding S.A. | 3/5 short3/3 long | +12.6% | +12.0% | +6.4% | +34.2% | +44.2% | +140% | +239% | +187% | 33.7% | 0.90 | −62.1% | — | $105B | — |
| SAN Banks - DiversifiedBanco Santander, S.A. | 1/5 short3/3 long | −11.0% | −6.1% | +6.2% | +7.9% | +34.9% | +301% | +297% | +307% | 33.9% | 0.99 | −73.8% | — | $189B | — |
| BLX Banks - RegionalBladex, Inc. | 0/5 short3/3 long | −0.3% | −5.6% | +1.0% | +31.4% | +29.2% | +203% | +286% | +278% | 25.9% | 1.18 | −68.5% | — | $1.6B | — |
| BCH Banks - RegionalBanco de Chile | 0/5 short3/3 long | −8.9% | −7.1% | +0.2% | +5.4% | +21.7% | +133% | +195% | +168% | 28.2% | 0.91 | −58.4% | — | $19B | — |
| BSAC Banks - RegionalBanco Santander-Chile | 0/5 short3/3 long | −8.9% | −6.6% | −1.4% | +7.5% | +19.7% | +114% | +132% | +140% | 29.0% | 0.73 | −63.9% | — | $15B | — |
| GGAL Banks - RegionalGrupo Financiero Galicia S.A. | 0/5 short3/3 long | −12.3% | −31.8% | −20.4% | −30.6% | +12.9% | +256% | +306% | +52.7% | 58.3% | 0.77 | −91.7% | — | $6.0B | — |
| BMA Banks - RegionalBanco Macro S.A. | 0/5 short3/3 long | −15.6% | −35.5% | −17.3% | −26.3% | +19.0% | +293% | +376% | +15.7% | 59.3% | 0.82 | −91.7% | — | $4.0B | — |
| BBAR Banks - RegionalBanco BBVA Argentina S.A. | 0/5 short3/3 long | −11.5% | −39.9% | −18.8% | −29.1% | +34.0% | +282% | +325% | −11.5% | 64.8% | 0.77 | −91.6% | — | $2.6B | — |
| EWZ InternationaliShares MSCI Brazil ETF | 2/5 short2/3 long | +9.4% | +14.3% | +4.1% | +31.2% | +45.6% | +67.2% | +105% | +84.0% | 27.6% | 0.66 | −57.0% | 0.59% | $14B | — |
| AVAL Banks - RegionalGrupo Aval Acciones y Valores S.A. | 1/5 short2/3 long | −6.9% | −5.0% | +7.5% | +21.0% | +27.2% | +143% | +49.2% | +32.5% | 43.2% | 0.39 | −62.1% | — | $5.6B | — |
| BBD Banks - RegionalBanco Bradesco S.A. | 0/5 short2/3 long | +12.9% | +8.2% | +2.1% | +25.0% | +30.4% | +84.6% | +77.1% | +32.6% | 39.2% | 0.49 | −67.7% | — | $43B | — |
| SUPV Banks - RegionalGrupo Supervielle S.A. | 0/5 short2/3 long | −8.7% | −29.4% | −24.2% | −37.2% | +19.7% | +271% | +208% | −48.2% | 71.2% | 0.66 | −96.0% | — | $683M | — |
| BSBR Banks - RegionalBanco Santander (Brasil) S.A. | 0/5 short1/3 long | −4.5% | +2.8% | −8.6% | −9.1% | +5.6% | +12.2% | +0.9% | −3.7% | 34.2% | 0.18 | −70.6% | — | $41B | — |
| XP Financial - Capital MarketsXP Inc. | 5/5 short0/3 long | +38.4% | +69.7% | +45.9% | +83.8% | +79.2% | +52.0% | −0.8% | — | 51.5% | 0.25 | −79.2% | — | $15B | — |
| PAGS Specialty Business ServicesPagSeguro Digital Ltd. | 3/5 short0/3 long | +20.0% | +20.1% | +7.9% | +24.4% | +32.2% | +63.7% | −66.7% | — | 60.6% | -0.07 | −90.0% | — | $3.1B | — |
| INTR Banks - RegionalInter & Co, Inc. | 2/5 short0/3 long | +21.7% | +18.5% | −17.0% | −19.3% | −26.3% | +60.5% | — | — | — | — | −68.3% | — | $3.0B | — |
| NU Banks - RegionalNu Holdings Ltd. | 0/5 short0/3 long | +4.0% | +1.5% | −0.8% | −13.5% | −2.8% | +80.5% | — | — | — | — | −72.1% | — | $71B | — |
| STNE Software - InfrastructureStoneCo Ltd. | 0/5 short0/3 long | +13.1% | −1.8% | −10.5% | −8.2% | −25.8% | +34.8% | −63.4% | — | 65.1% | 0.02 | −92.3% | — | $2.6B | — |
How did BBDO do year by year?
This table shows each investment's total return in every full calendar year since 2013, along with where BBDO ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with BBDO and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
Note: BBDO began trading on March 13, 2012, so the table starts with 2013, its first full calendar year, and cannot show how it fared during the dot-com bust, the 2008 financial crisis or two other sell-offs.
- Ranked against its popular alternatives each year, BBDO finished in the top quarter in one of 13 years and in the bottom quarter in five. In 2025, it ranked 7 of 21.
- BBDO finished ahead of the S&P 500 in five of its 13 full calendar years.
- Among its popular alternatives, CIB came out ahead of BBDO most often, in ten of the 13 years both traded.
Newest year first. Green marks a year in which the fund came out ahead of BBDO; gray means the two finished within a fraction of a point. The rank row places BBDO among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of BBDO | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BBDO This pageBanco Bradesco S.A. | — | +79.3% | −40.2% | +37.2% | −8.5% | −34.6% | −45.6% | +25.7% | −3.0% | +8.7% | +81.6% | −49.0% | −4.0% | +2.6% |
| Rank among alternatives | Top quarter in 1 of 13 | 7 of 21 | 17 of 21 | 13 of 21 | 15 of 20 | 17 of 19 | 18 of 19 | 7 of 18 | 8 of 16 | 15 of 16 | 3 of 15 | 14 of 15 | 10 of 14 | 6 of 14 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 8 of 13 | +17.7% | +24.9% | +26.2% | −18.2% | +28.7% | +18.3% | +31.2% | −4.6% | +21.7% | +12.0% | +1.2% | +13.5% | +32.3% |
| CIB Grupo Cibest S.A. | 10 of 13 | +122% | +13.6% | +20.6% | −2.0% | −20.8% | −22.6% | +47.2% | −0.8% | +11.4% | +41.9% | −42.2% | +0.4% | −24.2% |
| BAP Credicorp Ltd. | 8 of 13 | +65.4% | +31.4% | +16.3% | +14.6% | −24.7% | −17.7% | −0.3% | +9.0% | +37.8% | +64.9% | −38.4% | +22.3% | −7.9% |
| ITUB Itaú Unibanco Holding S.A. | 9 of 13 | +79.3% | −24.2% | +54.5% | +30.0% | −22.8% | −30.5% | +8.1% | +13.6% | +31.3% | +76.8% | −44.0% | +9.9% | −5.2% |
| SAN Banco Santander, S.A. | 10 of 13 | +165% | +14.9% | +46.4% | −6.8% | +10.2% | −19.6% | −2.2% | −28.5% | +33.3% | +12.3% | −37.9% | −0.4% | +27.4% |
| BLX Bladex, Inc. | 9 of 13 | +33.1% | +53.7% | +60.6% | +4.3% | +11.6% | −19.4% | +33.0% | −31.3% | −3.4% | +20.6% | −10.3% | +14.2% | +36.5% |
| BCH Banco de Chile | 6 of 13 | +77.6% | +3.9% | +20.3% | +39.2% | −21.6% | +1.1% | −24.7% | −6.9% | +45.0% | +25.9% | −8.2% | −16.5% | −3.7% |
| BSAC Banco Santander-Chile | 7 of 13 | +74.3% | +0.9% | +31.6% | +3.0% | −11.0% | −13.0% | −19.9% | −0.1% | +49.4% | +30.8% | −5.8% | −12.7% | −13.9% |
| GGAL Grupo Financiero Galicia S.A. | 8 of 13 | −11.4% | +289% | +92.3% | +7.3% | +9.5% | −45.6% | −40.4% | −57.9% | +145% | −0.3% | +70.8% | +52.5% | +58.8% |
| BMA Banco Macro S.A. | 8 of 13 | −3.6% | +266% | +84.9% | +26.5% | −10.0% | −57.0% | −14.1% | −60.7% | +81.5% | +12.2% | +32.9% | +86.4% | +33.8% |
| BBAR Banco BBVA Argentina S.A. | 9 of 13 | −4.1% | +316% | +47.3% | +34.2% | −1.8% | −42.3% | −49.2% | −54.5% | +47.0% | −6.5% | +38.3% | +98.7% | +38.3% |
| EWZ iShares MSCI Brazil ETF | 8 of 13 | +48.8% | −30.4% | +32.6% | +12.1% | −17.3% | −20.3% | +27.7% | −2.5% | +23.6% | +64.5% | −41.8% | −15.5% | −17.5% |
| AVAL Grupo Aval Acciones y Valores S.A. | 7 of 11 | +109% | −11.3% | +4.4% | −25.9% | −22.2% | −16.6% | +53.4% | −27.4% | +11.8% | +27.0% | −31.4% | — | — |
| BBD Banco Bradesco S.A. | 8 of 13 | +96.9% | −42.2% | +34.8% | −5.1% | −25.4% | −33.6% | +15.7% | +9.7% | +33.6% | +108% | −55.3% | +9.1% | −19.5% |
| SUPV Grupo Supervielle S.A. | 6 of 9 | −20.8% | +281% | +87.6% | +11.2% | −7.4% | −41.7% | −57.1% | −70.2% | +124% | — | — | — | — |
| BSBR Banco Santander (Brasil) S.A. | 6 of 13 | +62.6% | −39.6% | +22.9% | +2.9% | −34.1% | −27.2% | +14.1% | +21.4% | +12.0% | +143% | −20.2% | −12.4% | −15.0% |
| XP XP Inc. | 3 of 6 | +39.6% | −52.3% | +79.6% | −46.6% | −27.6% | +3.0% | — | — | — | — | — | — | — |
| PAGS PagSeguro Digital Ltd. | 3 of 7 | +61.0% | −49.8% | +42.7% | −66.7% | −53.9% | +66.5% | +82.3% | — | — | — | — | — | — |
| INTR Inter & Co, Inc. | 3 of 3 | +104% | −23.6% | +134% | — | — | — | — | — | — | — | — | — | — |
| NU Nu Holdings Ltd. | 2 of 4 | +61.6% | +24.4% | +105% | −56.6% | — | — | — | — | — | — | — | — | — |
| STNE StoneCo Ltd. | 4 of 7 | +85.7% | −55.8% | +90.9% | −44.0% | −79.9% | +110% | +116% | — | — | — | — | — | — |
Risk and diversification
How BBDO 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 BBDO's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents BBDO's five deepest drawdowns since it began trading in 2012, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
Note: BBDO began trading on March 13, 2012, so this list cannot include the dot-com bust, the 2008 financial crisis or two other sell-offs. The crash tests on this page show how older funds and the S&P 500 fared through those years.
- In all five of BBDO's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: BBDO fell 76.8% from September 2014 to December 2024, while the S&P 500 rose 250%.
- The longest climb back to a previous high took 12 months, after BBDO fell 37.9% from April to August 2013.
Green means BBDO fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | BBDO fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2022 bear market | −76.8% | +250% | Sep 2014 | Dec 2024 | 10.3 years | Not yet | — |
| No named crash | −37.9% | +4.3% | Apr 2013 | Aug 2013 | 4 months | Aug 2014 | 12 months |
| No named crash | −27.5% | −7.5% | Mar 2012 | May 2012 | 2 months | Dec 2012 | 7 months |
| No named crash | −9.5% | +0.5% | Dec 2012 | Dec 2012 | Under a month | Jan 2013 | 1 month |
| No named crash | −7.7% | +1.9% | Dec 2012 | Dec 2012 | Under a month | Dec 2012 | Under a month |
How did BBDO do in stock market crashes?
This section measures how far BBDO, 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: BBDO began trading on March 13, 2012, so its row reads "Not yet trading" for the dot-com bust, the 2008 financial crisis or two other sell-offs. The older alternatives and the S&P 500 show how those crashes played out.
- BBDO fell further than the S&P 500 in five of the six crashes it has traded through. The clearest case was the 2015 China and oil sell-off, when BBDO fell 44.1% and the S&P 500 fell 12.8%.
- Among its popular alternatives, BAP held up best, falling less than BBDO in all six crashes they both traded through.
- BBDO began trading after the 2008 financial crisis, but 12 of its popular alternatives lived through it. The mildest fall among them was BSAC's 48.4%, against 55.2% for the S&P 500.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than BBDO.
| Investment | Held up better | 2023 regional bank crisisMar 2023 | 2022 bear marketJan 2022 | Covid crashFeb 2020 | Late-2018 sell-offSep 2018 | February 2018 volatility shockFeb 2018 | 2015 China and oil sell-offAug 2015 | 2011 euro debt crisisJul 2011 | 2010 flash crashMay 2010 | 2008 financial crisisOct 2007 | Dot-com bustMar 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BBDO This pageBanco Bradesco S.A. | — | −6.8% | −36.3% | −55.6% | −9.3% | −8.8% | −44.1% | Not yet trading | Not yet trading | Not yet trading | Not yet trading |
| SPY S&P 500State Street SPDR S&P 500 ETF | 5 of 6 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| CIB Grupo Cibest S.A. | 2 of 6 | −9.8% | −44.6% | −70.1% | −15.3% | −4.8% | −38.7% | −17.7% | −1.7% | −63.4% | −75.1% |
| BAP Credicorp Ltd. | 6 of 6 | −4.7% | −33.3% | −38.3% | −7.3% | −6.7% | −33.9% | −16.0% | −2.8% | −64.9% | −55.6% |
| ITUB Itaú Unibanco Holding S.A. | 5 of 6 | −8.1% | −31.5% | −46.3% | −7.5% | −5.8% | −32.4% | −30.1% | −0.7% | −69.2% | — |
| SAN Banco Santander, S.A. | 2 of 6 | −11.4% | −41.0% | −48.1% | −19.0% | −6.0% | −44.7% | −33.2% | −0.9% | −76.1% | −58.4% |
| BLX Bladex, Inc. | 5 of 6 | −3.8% | −23.9% | −48.4% | −26.7% | −4.6% | −27.8% | −19.7% | −2.5% | −63.2% | −94.3% |
| BCH Banco de Chile | 5 of 6 | −2.1% | −27.0% | −29.8% | −10.5% | −2.7% | −15.2% | −25.4% | −1.4% | −57.6% | −37.3% |
| BSAC Banco Santander-Chile | 4 of 6 | −6.0% | −37.0% | −38.1% | −12.4% | −4.5% | −22.6% | −29.0% | −1.2% | −48.4% | −28.0% |
| GGAL Grupo Financiero Galicia S.A. | 1 of 6 | −14.5% | −44.7% | −58.1% | −27.3% | −8.5% | −22.1% | −47.8% | −1.5% | −82.4% | — |
| BMA Banco Macro S.A. | 2 of 6 | −11.1% | −41.2% | −55.7% | −26.4% | −6.3% | −27.9% | −48.1% | −0.5% | −77.5% | — |
| BBAR Banco BBVA Argentina S.A. | 2 of 6 | −16.6% | −41.8% | −50.5% | −23.9% | −8.5% | −30.1% | −47.1% | 0.0% | −80.2% | −95.7% |
| EWZ iShares MSCI Brazil ETF | 5 of 6 | −5.6% | −32.2% | −52.6% | −10.6% | −6.3% | −36.9% | −29.1% | −0.7% | −73.0% | — |
| AVAL Grupo Aval Acciones y Valores S.A. | 3 of 6 | −4.2% | −53.4% | −61.9% | −28.0% | −4.5% | −29.1% | — | — | — | — |
| BBD Banco Bradesco S.A. | 4 of 6 | −6.9% | −30.2% | −54.5% | −7.6% | −6.3% | −44.3% | −25.1% | −0.8% | −69.0% | — |
| SUPV Grupo Supervielle S.A. | 2 of 5 | −12.1% | −39.8% | −54.4% | −29.4% | −7.0% | — | — | — | — | — |
| BSBR Banco Santander (Brasil) S.A. | 3 of 6 | −8.6% | −37.6% | −50.4% | −13.8% | −6.1% | −31.6% | −30.5% | −3.8% | — | — |
| XP XP Inc. | 0 of 3 | −15.3% | −52.4% | −60.6% | — | — | — | — | — | — | — |
| PAGS PagSeguro Digital Ltd. | 1 of 5 | −12.8% | −60.9% | −59.7% | −44.9% | −0.7% | — | — | — | — | — |
| INTR Inter & Co, Inc. | 0 of 1 | −13.1% | — | — | — | — | — | — | — | — | — |
| NU Nu Holdings Ltd. | 0 of 2 | −10.0% | −67.5% | — | — | — | — | — | — | — | — |
| STNE StoneCo Ltd. | 0 of 3 | −10.2% | −59.0% | −55.2% | — | — | — | — | — | — | — |
How closely does BBDO 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 BBDO with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- 14 of the 15 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than BBDO's 0.43, led by BCH, ITUB and SAN.
- BCH took just 19% of the S&P 500's losses, against 125% for BBDO, while still keeping 45% of its gains.
- Over the past 10 years, BBDO captured 54% of the S&P 500's gains in rising months and 125% of its losses in falling months, with a beta of 0.84. Its share of the market's losses was larger than its share of the gains.
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 BBDO's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| BBDO This pageBanco Bradesco S.A. | 54% | 125% | 0.43 | 0.84 |
| BCH Banco de Chile | 45% | 19% | 2.41 | 0.36 |
| ITUB Itaú Unibanco Holding S.A. | 66% | 58% | 1.15 | 0.65 |
| SAN Banco Santander, S.A. | 101% | 92% | 1.10 | 1.02 |
| BAP Credicorp Ltd. | 88% | 82% | 1.07 | 0.88 |
| BLX Bladex, Inc. | 91% | 90% | 1.01 | 1.07 |
| BSAC Banco Santander-Chile | 66% | 65% | 1.01 | 0.66 |
| CIB Grupo Cibest S.A. | 119% | 133% | 0.90 | 0.99 |
| EWZ iShares MSCI Brazil ETF | 69% | 95% | 0.73 | 0.83 |
| GGAL Grupo Financiero Galicia S.A. | 140% | 234% | 0.60 | 1.52 |
| BBD Banco Bradesco S.A. | 62% | 103% | 0.60 | 0.72 |
| AVAL Grupo Aval Acciones y Valores S.A. | 89% | 156% | 0.57 | 1.03 |
| BMA Banco Macro S.A. | 113% | 202% | 0.56 | 1.36 |
| BSBR Banco Santander (Brasil) S.A. | 56% | 102% | 0.55 | 0.74 |
| BBAR Banco BBVA Argentina S.A. | 98% | 191% | 0.51 | 1.14 |
| SUPV Grupo Supervielle S.A. | 95% | 224% | 0.42 | 1.51 |
What diversifies BBDO?
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 BBDO's. Because such investments tend not to fall at the same time, pairing BBDO with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in BBDO into DXJ would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (+6.0% for BBDO alone, +11.3% for the mix).
- DXJ made money in six of the seven calendar years in which BBDO lost money.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of BBDO over the past 5 years, with correlations of 0.32 or lower, and each still earned a positive 5-year return.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which BBDO lost money. The last two columns show a portfolio that is 80% BBDO and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2024 | 2022 | 2021 | 2020 | 2018 | 2015 | 2014 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BBDO Banco Bradesco S.A. (this page) | 1.00 | +67.1% | 0.46 | −40.2% | −8.5% | −34.6% | −45.6% | −3.0% | −49.0% | −4.0% | 39.1% | +6.0% |
| LVHI InternationalFranklin International Low Volatility High Dividend Index ETF | 0.32 | +119% | 1.48 | +15.9% | +3.8% | +17.8% | −9.0% | −5.2% | — | — | 31.9% | +9.2% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.08 | +225% | 1.34 | +29.8% | +6.0% | +18.0% | +3.9% | −19.8% | +7.7% | +8.1% | 31.6% | +11.3% |
| EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund | 0.28 | +103% | 1.06 | +33.4% | +10.4% | +23.1% | −13.4% | −8.7% | −25.3% | +23.8% | 32.2% | +9.0% |
| HDV Dividend & IncomeiShares Core High Dividend ETF | 0.35 | +86.8% | 1.03 | +14.2% | +7.0% | +19.6% | −6.5% | −3.0% | −0.3% | +12.6% | 32.4% | +8.3% |
| DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF | 0.19 | +83.6% | 0.95 | +13.4% | −5.1% | +19.6% | +2.1% | −9.5% | +4.1% | +3.4% | 31.8% | +8.7% |
| SMH TechnologyVanEck Semiconductor ETF | 0.08 | +304% | 0.94 | +39.1% | −33.5% | +42.1% | +55.5% | −9.1% | −0.3% | +30.2% | 32.6% | +13.8% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.32 | +178% | 0.94 | +5.6% | +64.4% | +53.3% | −32.7% | −18.2% | −21.5% | −8.7% | 33.3% | +10.5% |
| GLD CommoditiesSPDR Gold Shares | 0.17 | +120% | 0.93 | +26.7% | −0.8% | −4.2% | +24.8% | −1.9% | −10.7% | −2.2% | 32.0% | +9.7% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2024 | 2022 | 2021 | 2020 | 2018 | 2015 | 2014 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BBDO Banco Bradesco S.A. (this page) | 1.00 | +67.1% | 0.46 | −40.2% | −8.5% | −34.6% | −45.6% | −3.0% | −49.0% | −4.0% | 39.1% | +6.0% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.26 | +471% | 1.54 | +19.0% | +54.1% | −0.4% | +10.1% | −24.5% | +12.6% | +23.0% | 33.0% | +13.2% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.09 | +2,780% | 1.43 | +215% | +1.3% | +37.9% | −2.4% | −16.3% | −6.0% | +12.9% | 34.4% | +25.8% |
| MCK Medical - DistributionMcKesson Corporation | 0.15 | +397% | 1.41 | +23.7% | +51.8% | +44.2% | +27.1% | −28.4% | −4.5% | +29.3% | 32.4% | +12.8% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.08 | +1,452% | 1.41 | +107% | +17.0% | +89.0% | +6.7% | +0.8% | +67.7% | −10.4% | 33.2% | +22.0% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.22 | +660% | 1.39 | −4.0% | +86.6% | +61.0% | −27.4% | −8.2% | +17.4% | +0.4% | 33.3% | +15.2% |
Common questions
What was BBDO's worst drawdown?
BBDO's deepest decline since it began trading in 2012 was 76.8%, from September 2014 to December 2024. It has not yet climbed back to that peak. Because BBDO launched in March 2012, that record does not include the dot-com bust, the 2008 financial crisis or two other sell-offs.
What were BBDO's best and worst years?
Over 13 full calendar years, BBDO's best year was 2016, when it returned 81.6%. Its worst was 2015, with a return of -49.0%.
Is there a better investment than BBDO?
Among BBDO's popular alternatives, ITUB, BAP and CIB earned more than BBDO with less volatility over the past 5 years. ITUB returned 27.7% a year at 33.7% volatility, against 10.8% a year at 43.1%. Looking beyond its popular alternatives, RY (banks) and PBAM (regional banks) earned more than BBDO with less volatility over the past 5 years. RY returned 17.5% a year at 18.2% volatility, against 10.8% a year at 43.1%.
Is BBDO more volatile than the S&P 500?
Yes. BBDO's volatility over the past 5 years was 43.1%, 2.5 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, BBDO's return lands within 43.1% 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 BBDO's Sharpe ratio?
BBDO's Sharpe ratio over the past 5 years was 0.46, against 0.78 for the S&P 500, so BBDO 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 BBDO with the S&P 500?
Over the past 5 years, BBDO's monthly returns had a correlation of 0.22 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against BBDO instead: the lower it is, the more that option would diversify a BBDO holding.
What are the best alternatives to BBDO?
Of the 20 popular alternatives we compared, three outperformed BBDO in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: CIB, BAP and ITUB.
Did BBDO outperform the S&P 500?
BBDO finished ahead of the S&P 500 (SPY) in five of 13 full calendar years. In 2025, it returned +79.3%, against +17.7% for the index.
How did BBDO do in stock market crashes?
BBDO fell less than the S&P 500 (SPY) in one of the six major crashes it has traded through, and further in five. The clearest case was the 2015 China and oil sell-off, when BBDO fell 44.1% and the S&P 500 fell 12.8%.
What diversifies BBDO?
These had a low correlation with BBDO over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.32), DXJ (correlation 0.08) and EMLP (correlation 0.28); among large stocks, CAH (correlation 0.26), CLS (correlation 0.09) and MCK (correlation 0.15). A correlation near zero means the two have moved largely independently.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y; long-term periods are 3Y, 5Y, 10Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than BBDO's. Returns within 0.5 points or 3% of BBDO's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
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