BetterThanSPY

Relative Intelligence · Copper Mining

How Freeport-McMoRan (FCX) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on FCX alone. It places FCX (Freeport-McMoRan Inc.) against 17 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 FCX stands in the market, and of the alternatives worth a closer look.

Period covered: FCX's full trading record, from July 1995 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 FCX →Chart FCX vs. 17 alternatives →

This page answers the following questions about FCX

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 FCX have grown?

This chart tracks a hypothetical $10,000 investment in FCX over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of FCX over the same span and FCX'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. 584 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of FCX; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$1,000$10,000$100,000$1M199720022007201220172022$1,000$10,000$100,000$1M19972004201120182025
  • SCCO$3M+26,680% total · +21.3% a year
  • RS$621,583+6,116% total · +15.3% a year
  • BHP$430,670+4,207% total · +13.9% a year
  • RIO$271,382+2,614% total · +12.1% a year
  • AEM$246,326+2,363% total · +11.7% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • FCX$86,132+761% total · +7.7% a year
  • NEM$39,676+297% total · +4.9% a year
  • CENX$22,307+123% total · +2.8% a year
  • TGB$17,820+78.2% total · +2.0% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 603 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of FCX; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000$60,000202120222023202420252026$0$20,000$40,000$60,000202120222023202420252026
  • TGB$47,141+371% total · +36.4% a year
  • SCCO$47,048+370% total · +36.3% a year
  • HBM$43,240+332% total · +34.0% a year
  • AEM$39,659+297% total · +31.7% a year
  • TECK$28,309+183% total · +23.1% a year
  • COPX$27,825+178% total · +22.7% a year
  • CENX$26,751+168% total · +21.7% a year
  • NEM$24,375+144% total · +19.5% a year
  • FCX$23,053+131% total · +18.2% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
Change the dates or add tickers to this chart in EasyCompare

FCX 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
$93B
Industry
Copper
Price history from
July 1995

Returns

Past 1 year
+59.9%total return
Past 3 years
+100%+26.0% a year
Past 5 years
+83.7%+12.9% a year
Past 10 years
+606%+21.6% a year
Best calendar year
+228%2009
Worst calendar year
−75.5%2008
Losing years
12 of 29full calendar years

Risk

Volatility
45.0%typical yearly swing, 5 years
Sharpe ratio
0.50return per unit of risk, 5 years
Worst decline ever
−92.5%Jan 2011 to Jan 2016
From its all-time high
−19.0%below the peak

FCX against the whole market

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

How does FCX rank among all stocks?

This section ranks FCX 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 FCX 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.

MeasureFCXRankStanding
1-year return+59.9%417 of 3,282top 13%
3-year return+100%933 of 3,016top 31%
5-year return+83.7%804 of 2,897top 28%
10-year return+606%232 of 2,201top 11%
Volatility, 5 years45.0%1,700 of 2,897bottom 42%
Sharpe ratio, 5 years0.50953 of 2,897top 33%
Worst decline, past 10 years−72.6%1,374 of 2,184bottom 38%

What has beaten FCX 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). FCX sits where the dashed lines cross. Anything in the green box above and to the left earned more than FCX 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 FCX; faint dots are 88 more of the 508 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%20.0%30.0%40.0%50.0%60.0%70.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than FCXADI: +18.6% a year, volatility 34.2%DE: +15.1% a year, volatility 29.9%GWW: +26.7% a year, volatility 24.9%CTAS: +17.1% a year, volatility 23.1%HLT: +20.7% a year, volatility 26.8%MSI: +15.2% a year, volatility 23.6%LNG: +23.4% a year, volatility 30.2%AAPL: +19.1% a year, volatility 28.0%COKE: +41.6% a year, volatility 38.0%FCNCA: +21.5% a year, volatility 41.4%HALO: +26.2% a year, volatility 40.4%ENSG: +20.1% a year, volatility 26.9%WMT: +21.1% a year, volatility 22.6%DHT: +40.3% a year, volatility 39.0%DXJ: +26.6% a year, volatility 19.1%CSW: +17.1% a year, volatility 34.4%PM: +21.3% a year, volatility 23.4%MCK: +37.8% a year, volatility 25.1%RTX: +18.7% a year, volatility 24.4%GILD: +22.8% a year, volatility 24.9%TD: +16.5% a year, volatility 20.0%NWPX: +32.7% a year, volatility 36.3%PSX: +32.7% a year, volatility 32.9%MO: +18.3% a year, volatility 21.4%GOOG: +18.5% a year, volatility 32.0%ITUB: +27.7% a year, volatility 33.7%TRV: +22.4% a year, volatility 22.3%E: +23.7% a year, volatility 25.6%MAR: +21.7% a year, volatility 28.6%MFC: +23.3% a year, volatility 24.0%KMI: +20.1% a year, volatility 22.3%HPE: +32.8% a year, volatility 42.3%JCI: +16.4% a year, volatility 29.2%URI: +25.7% a year, volatility 39.1%ALL: +17.9% a year, volatility 26.2%CCEP: +20.4% a year, volatility 23.3%DYNF: +14.4% a year, volatility 17.5%CBOE: +22.0% a year, volatility 25.1%NTAP: +20.6% a year, volatility 35.3%IHG: +21.7% a year, volatility 26.6%UTHR: +25.1% a year, volatility 35.2%FFIV: +16.7% a year, volatility 30.8%WF: +25.4% a year, volatility 31.6%CLH: +22.8% a year, volatility 28.6%SNX: +20.2% a year, volatility 30.4%MOG-A: +35.1% a year, volatility 32.1%CAT: +30.7% a year, volatility 32.0%EXEL: +25.0% a year, volatility 35.8%EWY: +15.5% a year, volatility 34.1%PBR-A: +53.5% a year, volatility 37.4%CIBR: +14.5% a year, volatility 26.2%MPC: +50.0% a year, volatility 33.4%EHC: +18.7% a year, volatility 26.9%IOO: +15.6% a year, volatility 17.2%APH: +31.3% a year, volatility 32.4%LAUR: +36.9% a year, volatility 32.8%WTS: +14.8% a year, volatility 28.4%MSGS: +17.5% a year, volatility 25.7%NEU: +20.9% a year, volatility 26.8%MS: +16.2% a year, volatility 28.9%FRHC: +20.5% a year, volatility 40.5%AIQ: +14.7% a year, volatility 26.7%IBKR: +35.3% a year, volatility 35.5%GRMN: +14.8% a year, volatility 31.6%VCTR: +27.7% a year, volatility 35.0%THG: +15.2% a year, volatility 22.9%ACA: +23.4% a year, volatility 34.0%AVT: +21.5% a year, volatility 30.8%KNSL: +18.9% a year, volatility 38.8%NHC: +31.2% a year, volatility 28.6%MATX: +23.5% a year, volatility 39.5%FLTW: +21.3% a year, volatility 24.4%GFF: +36.9% a year, volatility 41.7%RSPT: +16.6% a year, volatility 25.1%PH: +26.0% a year, volatility 28.9%TRGP: +41.8% a year, volatility 31.7%CNO: +19.1% a year, volatility 28.1%GHC: +17.6% a year, volatility 26.3%ETN: +19.7% a year, volatility 32.2%MPLX: +24.0% a year, volatility 18.8%TDIV: +16.5% a year, volatility 21.3%MCY: +16.9% a year, volatility 34.3%PWR: +36.4% a year, volatility 37.4%VIRT: +20.4% a year, volatility 33.8%TT: +21.4% a year, volatility 27.7%FHI: +16.0% a year, volatility 24.6%NIC: +19.7% a year, volatility 30.2%DIVB: +14.6% a year, volatility 15.5%FCX: +12.9% a year, volatility 45.0%SPY (S&P 500): +12.5% a year, volatility 17.2%NEM: +17.8% a year, volatility 39.1%SCCO: +30.1% a year, volatility 40.8%AEM: +28.2% a year, volatility 38.5%TGB: +26.0% a year, volatility 63.6%TECK: +17.8% a year, volatility 45.3%GOLD: +6.5% a year, volatility 48.0%RS: +24.8% a year, volatility 28.1%B: +17.8% a year, volatility 37.4%RGLD: +20.2% a year, volatility 32.4%FRD: +24.8% a year, volatility 54.6%ATI: +58.9% a year, volatility 43.2%TX: +12.4% a year, volatility 34.8%LLY: +41.2% a year, volatility 32.8%ABBV: +25.5% a year, volatility 23.4%COST: +17.4% a year, volatility 22.9%VGT: +18.1% a year, volatility 26.1%PGR: +21.8% a year, volatility 25.7%SOXX: +26.3% a year, volatility 39.0%PANW: +33.4% a year, volatility 43.4%BNS: +13.2% a year, volatility 20.0%CAH: +41.7% a year, volatility 24.7%INSW: +58.7% a year, volatility 40.6%BHP: +15.8% a year, volatility 31.4%FCXSPY (S&P 500)NEMSCCOAEMTGBTECKGOLDRSBRGLDFRDATITXLLYABBVCOSTVGTPGRSOXXPANWCAHINSWBHP0.0%20.0%40.0%60.0%80.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than FCXADI: +18.6% a year, volatility 34.2%DE: +15.1% a year, volatility 29.9%GWW: +26.7% a year, volatility 24.9%CTAS: +17.1% a year, volatility 23.1%HLT: +20.7% a year, volatility 26.8%MSI: +15.2% a year, volatility 23.6%LNG: +23.4% a year, volatility 30.2%AAPL: +19.1% a year, volatility 28.0%COKE: +41.6% a year, volatility 38.0%FCNCA: +21.5% a year, volatility 41.4%HALO: +26.2% a year, volatility 40.4%ENSG: +20.1% a year, volatility 26.9%WMT: +21.1% a year, volatility 22.6%DHT: +40.3% a year, volatility 39.0%DXJ: +26.6% a year, volatility 19.1%CSW: +17.1% a year, volatility 34.4%PM: +21.3% a year, volatility 23.4%MCK: +37.8% a year, volatility 25.1%RTX: +18.7% a year, volatility 24.4%GILD: +22.8% a year, volatility 24.9%TD: +16.5% a year, volatility 20.0%NWPX: +32.7% a year, volatility 36.3%PSX: +32.7% a year, volatility 32.9%MO: +18.3% a year, volatility 21.4%GOOG: +18.5% a year, volatility 32.0%ITUB: +27.7% a year, volatility 33.7%TRV: +22.4% a year, volatility 22.3%E: +23.7% a year, volatility 25.6%MAR: +21.7% a year, volatility 28.6%MFC: +23.3% a year, volatility 24.0%KMI: +20.1% a year, volatility 22.3%HPE: +32.8% a year, volatility 42.3%JCI: +16.4% a year, volatility 29.2%URI: +25.7% a year, volatility 39.1%ALL: +17.9% a year, volatility 26.2%CCEP: +20.4% a year, volatility 23.3%DYNF: +14.4% a year, volatility 17.5%CBOE: +22.0% a year, volatility 25.1%NTAP: +20.6% a year, volatility 35.3%IHG: +21.7% a year, volatility 26.6%UTHR: +25.1% a year, volatility 35.2%FFIV: +16.7% a year, volatility 30.8%WF: +25.4% a year, volatility 31.6%CLH: +22.8% a year, volatility 28.6%SNX: +20.2% a year, volatility 30.4%MOG-A: +35.1% a year, volatility 32.1%CAT: +30.7% a year, volatility 32.0%EXEL: +25.0% a year, volatility 35.8%EWY: +15.5% a year, volatility 34.1%PBR-A: +53.5% a year, volatility 37.4%CIBR: +14.5% a year, volatility 26.2%MPC: +50.0% a year, volatility 33.4%EHC: +18.7% a year, volatility 26.9%IOO: +15.6% a year, volatility 17.2%APH: +31.3% a year, volatility 32.4%LAUR: +36.9% a year, volatility 32.8%WTS: +14.8% a year, volatility 28.4%MSGS: +17.5% a year, volatility 25.7%NEU: +20.9% a year, volatility 26.8%MS: +16.2% a year, volatility 28.9%FRHC: +20.5% a year, volatility 40.5%AIQ: +14.7% a year, volatility 26.7%IBKR: +35.3% a year, volatility 35.5%GRMN: +14.8% a year, volatility 31.6%VCTR: +27.7% a year, volatility 35.0%THG: +15.2% a year, volatility 22.9%ACA: +23.4% a year, volatility 34.0%AVT: +21.5% a year, volatility 30.8%KNSL: +18.9% a year, volatility 38.8%NHC: +31.2% a year, volatility 28.6%MATX: +23.5% a year, volatility 39.5%FLTW: +21.3% a year, volatility 24.4%GFF: +36.9% a year, volatility 41.7%RSPT: +16.6% a year, volatility 25.1%PH: +26.0% a year, volatility 28.9%TRGP: +41.8% a year, volatility 31.7%CNO: +19.1% a year, volatility 28.1%GHC: +17.6% a year, volatility 26.3%ETN: +19.7% a year, volatility 32.2%MPLX: +24.0% a year, volatility 18.8%TDIV: +16.5% a year, volatility 21.3%MCY: +16.9% a year, volatility 34.3%PWR: +36.4% a year, volatility 37.4%VIRT: +20.4% a year, volatility 33.8%TT: +21.4% a year, volatility 27.7%FHI: +16.0% a year, volatility 24.6%NIC: +19.7% a year, volatility 30.2%DIVB: +14.6% a year, volatility 15.5%FCX: +12.9% a year, volatility 45.0%SPY (S&P 500): +12.5% a year, volatility 17.2%NEM: +17.8% a year, volatility 39.1%SCCO: +30.1% a year, volatility 40.8%AEM: +28.2% a year, volatility 38.5%TGB: +26.0% a year, volatility 63.6%TECK: +17.8% a year, volatility 45.3%GOLD: +6.5% a year, volatility 48.0%RS: +24.8% a year, volatility 28.1%B: +17.8% a year, volatility 37.4%RGLD: +20.2% a year, volatility 32.4%FRD: +24.8% a year, volatility 54.6%ATI: +58.9% a year, volatility 43.2%TX: +12.4% a year, volatility 34.8%LLY: +41.2% a year, volatility 32.8%ABBV: +25.5% a year, volatility 23.4%COST: +17.4% a year, volatility 22.9%VGT: +18.1% a year, volatility 26.1%PGR: +21.8% a year, volatility 25.7%SOXX: +26.3% a year, volatility 39.0%PANW: +33.4% a year, volatility 43.4%BNS: +13.2% a year, volatility 20.0%CAH: +41.7% a year, volatility 24.7%INSW: +58.7% a year, volatility 40.6%BHP: +15.8% a year, volatility 31.4%FCXSPY (S&P 500)NEMSCCOAEMTGBTECKGOLDRSBRGLDFRDATILLYABBVCOSTSOXXPANWBNSCAHINSWBHP
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than FCX?

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

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

Screen the whole market against FCX 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 FCX?lower diversifies moreExpenseper year
FCXFreeport-McMoRan Inc. · this page
+12.9%45.0%0.50−72.6%+606%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.5%17.2%0.78−33.7%+316%0.540.09%
Popular alternativesbest 6 shownThe investments people most often weigh against FCX. 8 of 16 passed at least one test.
NEMNewmont Corporation · Gold Mining
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.8%39.1%0.62−62.4%+307%0.53—
SCCOSouthern Copper Corporation · Copper Mining
Higher return, lower volatilityHigher Sharpe, smaller worst decline+30.1%40.8%0.85−55.3%+915%0.78—
AEMAgnico Eagle Mines Limited · Gold Mining
Higher return, lower volatilityHigher Sharpe, smaller worst decline+28.2%38.5%0.84−54.2%+335%0.49—
TGBTrekor Metals Limited · Copper Mining
Higher return in most periods+26.0%63.6%0.68−90.8%+1,638%0.69—
TECKTeck Resources Limited · Copper Mining
Higher return, similar volatility+17.8%45.3%0.59−79.6%+226%0.62—
GOLDGold.com, Inc. · Precious Metals Dealers
Smaller losses in recent crashes+6.5%48.0%0.37−62.6%+615%0.58—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Copper Mining and Metals & Mining and the categories next to it (Gold Mining, Materials Equity, Steel, Uranium), plus FCX's specific themes. 39 of 120 passed at least one test.
RSReliance Steel & Aluminum Co. · Metals & Mining
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+24.8%28.1%0.94−40.8%+639%0.49—
BBarrick Mining Corporation · Gold Mining
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.8%37.4%0.63−53.9%+189%0.51—
RGLDRoyal Gold, Inc. · Gold Mining
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+20.2%32.4%0.73−49.5%+291%0.58—
FRDFriedman Industries, Incorporated · Steel
Higher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+24.8%54.6%0.68−65.1%+759%0.35—
ATIATI Inc. · Metals & Mining
On the frontierHigher return, similar volatilityHigher return in most periods+58.9%43.2%1.29−82.4%+809%0.51—
TXTernium S.A. · Steel
Similar return, lower volatility+12.4%34.8%0.51−74.9%+350%0.64—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 947 of 3,532 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%0.05—
ABBVAbbVie Inc. · Specialty Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+25.5%23.4%1.09−45.1%+600%0.22—
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%0.36—
VGTVanguard Information Technology ETF · Technology Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+18.1%26.1%0.77−35.1%+753%0.390.09%
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%0.10—
SOXXiShares Semiconductor ETF · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+26.3%39.0%0.80−45.8%+1,297%0.420.33%
PANWPalo Alto Networks, Inc. · Cybersecurity
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+33.4%43.4%0.89−48.0%+1,306%0.17—
BNSThe Bank of Nova Scotia · Banks
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+13.2%20.0%0.73−46.9%+191%0.58—
What these numbers mean for FCX
Annual return
FCX returned 12.9% 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 $18,400. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
FCX's volatility over the past 5 years was 45.0%, 2.6 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, FCX's return lands within 45.0% 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
FCX's Sharpe ratio over the past 5 years was 0.50, against 0.78 for the S&P 500, so FCX 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
FCX's worst fall from a peak to a low over the past 10 years was 72.6%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 72.6% fall takes a 265% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, FCX's monthly returns had a correlation of 0.54 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 FCX instead: the lower it is, the more that option would diversify a FCX holding. Guide: Correlation and diversification →
Show all 508 stocks and funds worth at least $500 million that earned more than FCX 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 FCXExpense
1
LLYEli Lilly and Company · Pharmaceuticals
Whole market+41.2%32.8%1.22−34.5%+1,870%0.05—
2
ABBVAbbVie Inc. · Specialty Pharmaceuticals
Whole market+25.5%23.4%1.09−45.1%+600%0.22—
3
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+692%0.36—
4
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.1%26.1%0.77−35.1%+753%0.390.09%
5
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.8%25.7%0.90−30.3%+849%0.10—
6
ADIAnalog Devices, Inc. · Semiconductors
Whole market+18.6%34.2%0.67−33.6%+625%0.51—
7
DEDeere & Company · Industrial Machinery
Whole market+15.1%29.9%0.62−37.9%+764%0.50—
8
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.7%24.9%1.08−41.6%+670%0.37—
9
CTASCintas Corporation · Business Services
Whole market+17.1%23.1%0.80−48.4%+834%0.37—
10
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+20.7%26.8%0.84−50.8%+693%0.52—
11
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+15.2%23.6%0.72−32.8%+639%0.41—
12
LNGCheniere Energy, Inc. · Oil & Gas
Whole market+23.4%30.2%0.85−57.5%+635%0.15—
13
SOXXiShares Semiconductor ETF · Semiconductors
Whole market+26.3%39.0%0.80−45.8%+1,297%0.420.33%
14
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+41.7%24.7%1.54−46.1%+345%0.21—
15
AAPLApple Inc. · Computer Hardware
Whole market+19.1%28.0%0.77−38.5%+1,194%0.27—
16
COKECoca-Cola Consolidated, Inc. · Food & Beverages
Whole market+41.6%38.0%1.11−51.7%+1,564%0.04—
17
FCNCAFirst Citizens BancShares, Inc. · Regional Banks
Whole market+21.5%41.4%0.66−47.5%+678%0.05—
18
HALOHalozyme Therapeutics, Inc. · Biotechnology
Whole market+26.2%40.4%0.78−49.1%+1,255%0.29—
19
ENSGThe Ensign Group, Inc. · Health Care Facilities
Whole market+20.1%26.9%0.82−55.5%+919%0.36—
20
WMTWalmart Inc. · Discount Retail
Whole market+21.1%22.6%0.97−25.7%+521%0.14—
21
DHTDHT Holdings, Inc. · Oil & Gas
Whole market+40.3%39.0%1.07−39.7%+1,094%0.24—
22
RSReliance Steel & Aluminum Co. · Metals & Mining
Same or nearby category+24.8%28.1%0.94−40.8%+639%0.49—
23
DXJWisdomTree Japan Hedged Equity Fund · Japan Equity
Whole market+26.6%19.1%1.34−39.1%+415%0.430.48%
24
CSWCSW Industrials, Inc. · Industrial Products
Whole market+17.1%34.4%0.63−46.2%+893%0.33—
25
PMPhilip Morris International Inc. · Tobacco
Whole market+21.3%23.4%0.94−42.9%+240%0.32—
26
INSWInternational Seaways, Inc. · Oil & Gas
Whole market+58.7%40.6%1.35−57.4%—0.16—
27
MCKMcKesson Corporation · Health Care Distribution
Whole market+37.8%25.1%1.41−38.1%+582%0.10—
28
RTXRTX Corporation · Aerospace & Defense
Whole market+18.7%24.4%0.83−52.0%+319%0.30—
29
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+202%0.23—
30
TDThe Toronto-Dominion Bank · Banks
Whole market+16.5%20.0%0.87−42.0%+319%0.52—
31
NWPXNWPX Infrastructure, Inc. · Infrastructure
Whole market+32.7%36.3%0.97−46.5%+619%0.33—
32
PSXPhillips 66 · Oil Refining
Whole market+32.7%32.9%1.03−64.2%+413%0.33—
33
MOAltria Group, Inc. · Tobacco
Whole market+18.3%21.4%0.90−53.7%+133%0.28—
34
GOOGAlphabet Inc. · Internet Services
Whole market+18.5%32.0%0.69−44.6%+696%0.21—
35
ITUBItaú Unibanco Holding S.A. · Banks
Whole market+27.7%33.7%0.90−62.1%+187%0.18—
36
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+360%0.25—
37
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.7%25.6%0.96−61.4%+283%0.40—
38
MARMarriott International, Inc. · Hotels & Resorts
Whole market+21.7%28.6%0.83−61.3%+544%0.47—
39
MFCManulife Financial Corporation · Life Insurance
Whole market+23.3%24.0%1.00−57.5%+386%0.39—
40
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Whole market+20.1%22.3%0.94−55.1%+159%0.38—
41
HPEHewlett Packard Enterprise Company · Computer Hardware
Whole market+32.8%42.3%0.89−56.9%+481%0.37—
42
JCIJohnson Controls International plc · Building Products
Whole market+16.4%29.2%0.67−46.4%+407%0.50—
43
URIUnited Rentals, Inc. · Equipment Rental
Whole market+25.7%39.1%0.78−63.3%+1,407%0.42—
44
ALLThe Allstate Corporation · Property & Casualty Insurance
Whole market+17.9%26.2%0.76−41.4%+377%0.09—
45
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Whole market+20.4%23.3%0.92−48.8%+294%0.22—
46
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Whole market+14.4%17.5%0.86−34.7%—0.500.26%
47
CBOECboe Global Markets, Inc. · Capital Markets
Whole market+22.0%25.1%0.92−43.2%+481%0.13—
48
NTAPNetApp, Inc. · Computer Hardware
Whole market+20.6%35.3%0.71−58.1%+696%0.31—
49
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.7%26.6%0.88−59.3%+387%0.46—
50
UTHRUnited Therapeutics Corporation · Rare Disease Therapeutics
Whole market+25.1%35.2%0.81−55.6%+423%-0.02—
51
FFIVF5, Inc. · Cybersecurity
Whole market+16.7%30.8%0.66−54.6%+279%0.21—
52
WFWoori Financial Group Inc. · Banks
Whole market+25.4%31.6%0.88−67.2%+268%0.42—
53
CLHClean Harbors, Inc. · Waste Management
Whole market+22.8%28.6%0.87−64.5%+603%0.37—
54
SNXTD Synnex Corp · Technology Distribution
Whole market+20.2%30.4%0.76−55.8%+427%0.32—
55
MOG-AMoog Inc. · Aerospace Components
Whole market+35.1%32.1%1.10−63.7%+540%0.43—
56
CATCaterpillar Inc. · Industrial Machinery
Whole market+30.7%32.0%1.00−43.4%+913%0.41—
57
EXELExelixis, Inc. · Oncology
Whole market+25.0%35.8%0.81−57.2%+478%0.17—
58
EWYiShares MSCI South Korea ETF · International Equity
Whole market+15.5%34.1%0.60−49.7%+219%0.550.59%
59
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+53.5%37.4%1.34−71.7%+733%0.16—
60
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Whole market+14.5%26.2%0.65−33.9%+461%0.300.58%
61
MPCMarathon Petroleum Corporation · Oil Refining
Whole market+50.0%33.4%1.39−79.7%+1,314%0.31—
62
EHCEncompass Health Corporation · Health Care Facilities
Whole market+18.7%26.9%0.77−39.5%+354%0.35—
63
IOOiShares Global 100 ETF · Global Equity
Whole market+15.6%17.2%0.94−31.4%+357%0.500.40%
64
APHAmphenol Corporation · Electronic Components
Whole market+31.3%32.4%1.01−37.5%+887%0.33—
65
LAURLaureate Education, Inc. · Education Services
Whole market+36.9%32.8%1.13−64.5%—0.14—
66
WTSWatts Water Technologies, Inc. · Industrial Machinery
Whole market+14.8%28.4%0.63−44.1%+533%0.46—
67
MSGSMadison Square Garden Sports Corp. · Entertainment
Whole market+17.5%25.7%0.76−41.6%+395%0.38—
68
NEUNewMarket Corporation · Specialty Chemicals
Whole market+20.9%26.8%0.85−40.7%+162%0.11—
69
MSMorgan Stanley · Capital Markets
Whole market+16.2%28.9%0.67−51.3%+630%0.40—
70
FRHCFreedom Holding Corp. · Investment Banking & Brokerage
Whole market+20.5%40.5%0.66−45.9%—-0.04—
71
AIQGlobal X - Artificial Intelligence & Technology ETF · Artificial Intelligence
Whole market+14.7%26.7%0.65−44.6%—0.420.68%
72
IBKRInteractive Brokers Group, Inc. · Investment Banking & Brokerage
Whole market+35.3%35.5%1.03−55.1%+929%0.26—
73
GRMNGarmin Ltd. · Computer Hardware
Whole market+14.8%31.6%0.59−54.6%+678%0.21—
74
VCTRVictory Capital Holdings, Inc. · Asset Management
Whole market+27.7%35.0%0.88−45.2%—0.43—
75
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance
Whole market+15.2%22.9%0.73−40.1%+309%0.07—
76
ACAArcosa, Inc. · Construction Materials
Whole market+23.4%34.0%0.79−36.8%—0.36—
77
AVTAvnet, Inc. · Technology Distribution
Whole market+21.5%30.8%0.79−58.4%+161%0.44—
78
KNSLKinsale Capital Group, Inc. · Property & Casualty Insurance
Whole market+18.9%38.8%0.64−46.8%+1,690%0.20—
79
NHCNational HealthCare Corporation · Health Care Facilities
Whole market+31.2%28.6%1.10−35.3%+385%0.12—
80
MATXMatson, Inc. · Marine Shipping
Whole market+23.5%39.5%0.73−53.6%+554%0.52—
81
BBarrick Mining Corporation · Gold Mining
Same or nearby category+17.8%37.4%0.63−53.9%+189%0.51—
82
FLTWFranklin FTSE Taiwan ETF · International Equity
Whole market+21.3%24.4%0.92−38.0%—0.470.19%
83
GFFGriffon Corporation · Building Products
Whole market+36.9%41.7%0.96−61.3%+774%0.28—
84
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.6%25.1%0.74−33.7%+559%0.490.40%
85
PHParker-Hannifin Corporation · Industrial Machinery
Whole market+26.0%28.9%0.95−54.7%+755%0.40—
86
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.42—
87
CNOCNO Financial Group, Inc. · Life Insurance
Whole market+19.1%28.1%0.77−63.8%+348%0.37—
88
GHCGraham Holdings Company · Industrial Conglomerates
Whole market+17.6%26.3%0.75−62.5%+191%0.31—
89
ETNEaton Corporation plc · Electrical Equipment
Whole market+19.7%32.2%0.72−44.5%+636%0.29—
90
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+24.0%18.8%1.25−75.2%+337%0.39—
91
TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity
Whole market+16.5%21.3%0.83−32.0%+384%0.490.50%
92
MCYMercury General Corporation · Property & Casualty Insurance
Whole market+16.9%34.3%0.63−55.3%+203%0.27—
93
PWRQuanta Services, Inc. · Engineering & Construction
Whole market+36.4%37.4%1.02−45.5%+1,878%0.26—
94
VIRTVirtu Financial, Inc. · Capital Markets
Whole market+20.4%33.8%0.72−56.2%+520%0.33—
95
NEMNewmont Corporation · Gold Mining
Popular alternative+17.8%39.1%0.62−62.4%+307%0.53—
96
RGLDRoyal Gold, Inc. · Gold Mining
Same or nearby category+20.2%32.4%0.73−49.5%+291%0.58—
97
TTTrane Technologies plc · Building Products
Whole market+21.4%27.7%0.84−40.5%+927%0.35—
98
FHIFederated Hermes, Inc. · Asset Management
Whole market+16.0%24.6%0.73−64.9%+226%0.40—
99
NICNicolet Bankshares, Inc. · Regional Banks
Whole market+19.7%30.2%0.75−44.3%+354%0.29—
100
DIVBiShares Core Dividend ETF · High Dividend Yield
Whole market+14.6%15.5%0.96−36.9%—0.650.05%

FCX against its popular alternatives

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

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

Green points earned more than FCX 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%−5.0%0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityFCX: 12.9% a year, volatility 45.0%SPY (S&P 500): 12.5% a year, volatility 17.2%SCCO: 30.1% a year, volatility 40.8%NEM: 17.8% a year, volatility 39.1%AEM: 28.2% a year, volatility 38.5%COPX: 16.5% a year, volatility 37.5%BHP: 15.8% a year, volatility 31.4%ERO: 8.8% a year, volatility 56.0%NEXA: 2.6% a year, volatility 56.8%GOLD: 6.5% a year, volatility 48.0%AA: −3.7% a year, volatility 55.1%TGB: 26.0% a year, volatility 63.6%HBM: 25.1% a year, volatility 55.9%CENX: 15.9% a year, volatility 70.6%TECK: 17.8% a year, volatility 45.3%PICK: 9.9% a year, volatility 28.1%RIO: 11.9% a year, volatility 29.0%VALE: 6.5% a year, volatility 35.0%FCXSPY (S&P 500)SCCONEMAEMCOPXBHPERONEXAGOLDAATGBHBMCENXTECKPICKRIOVALE0.0%20.0%40.0%60.0%80.0%−10.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityFCX: 12.9% a year, volatility 45.0%SPY (S&P 500): 12.5% a year, volatility 17.2%SCCO: 30.1% a year, volatility 40.8%NEM: 17.8% a year, volatility 39.1%AEM: 28.2% a year, volatility 38.5%COPX: 16.5% a year, volatility 37.5%BHP: 15.8% a year, volatility 31.4%ERO: 8.8% a year, volatility 56.0%NEXA: 2.6% a year, volatility 56.8%GOLD: 6.5% a year, volatility 48.0%AA: −3.7% a year, volatility 55.1%TGB: 26.0% a year, volatility 63.6%HBM: 25.1% a year, volatility 55.9%CENX: 15.9% a year, volatility 70.6%TECK: 17.8% a year, volatility 45.3%PICK: 9.9% a year, volatility 28.1%RIO: 11.9% a year, volatility 29.0%VALE: 6.5% a year, volatility 35.0%FCXSPY (S&P 500)SCCONEMAEMCOPXERONEXAGOLDAATGBHBMCENXTECKPICKVALE
All figures
InvestmentAnnual returnVolatility
SCCO Southern Copper Corporation+30.1%40.8%
AEM Agnico Eagle Mines Limited+28.2%38.5%
TGB Trekor Metals Limited+26.0%63.6%
HBM Hudbay Minerals Inc.+25.1%55.9%
NEM Newmont Corporation+17.8%39.1%
TECK Teck Resources Limited+17.8%45.3%
COPX Global X - Copper Miners ETF+16.5%37.5%
CENX Century Aluminum Company+15.9%70.6%
BHP BHP Group Limited+15.8%31.4%
FCX This pageFreeport-McMoRan Inc.+12.9%45.0%
SPY S&P 500State Street SPDR S&P 500 ETF+12.5%17.2%
RIO Rio Tinto Group+11.9%29.0%
PICK iShares MSCI Global Metals & Mining Producers ETF+9.9%28.1%
ERO Ero Copper Corp.+8.8%56.0%
GOLD Gold.com, Inc.+6.5%48.0%
VALE Vale S.A.+6.5%35.0%
NEXA Nexa Resources S.A.+2.6%56.8%
AA Alcoa Corporation−3.7%55.1%
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Has FCX consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than FCX 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
FCX Freeport-McMoRan Inc. (this page)—−12.9%−0.4%−7.8%+25.5%+59.9%+100%+83.7%+606%45.0%0.50−72.6%—$93B—
TGB QualifiedTrekor Metals Limited3/5 short3/3 long−22.0%−3.7%−1.2%+30.4%+88.1%+582%+217%+1,638%63.6%0.68−90.8%—$2.7B—
SCCO QualifiedSouthern Copper Corporation3/5 short3/3 long−10.9%−4.4%+1.1%+26.9%+51.0%+202%+273%+915%40.8%0.85−55.3%—$155B—
NEM QualifiedNewmont Corporation3/5 short2/3 long−10.3%+19.4%+2.5%+13.5%+32.4%+214%+127%+307%39.1%0.62−62.4%—$120B—
AEM GoldAgnico Eagle Mines Limited1/5 short2/3 long−13.5%+20.1%−13.3%+4.0%+8.7%+275%+246%+335%38.5%0.84−54.2%—$89B—
HBM CopperHudbay Minerals Inc.0/5 short2/3 long−21.1%−7.0%−11.3%+9.1%+45.3%+414%+207%+470%55.9%0.68−86.3%—$9.7B—
COPX MaterialsGlobal X - Copper Miners ETF0/5 short2/3 long−18.7%−8.6%−13.6%+0.4%+27.2%+133%+115%+429%37.5%0.60−65.4%0.65%$6.9B—
CENX AluminumCentury Aluminum Company0/5 short2/3 long−17.1%−28.0%−48.2%−20.2%+12.7%+454%+109%+339%70.6%0.56−87.5%—$3.2B—
BHP Industrial MaterialsBHP Group Limited3/5 short1/3 long−11.7%−6.2%−1.6%+30.9%+44.9%+62.0%+109%+373%31.4%0.63−44.3%—$197B—
TECK CopperTeck Resources Limited2/5 short1/3 long−14.5%+3.1%−0.3%+23.2%+40.6%+56.4%+127%+226%45.3%0.59−79.6%—$28B—
ERO CopperEro Copper Corp.2/5 short1/3 long−19.2%+11.3%+9.0%+3.7%+46.8%+121%+52.7%—56.0%0.43−67.2%—$3.1B—
NEXA Industrial MaterialsNexa Resources S.A.2/5 short1/3 long−16.0%−17.3%−24.2%+28.3%+108%+114%+13.8%—56.8%0.33−85.0%—$1.5B—
PICK InternationaliShares MSCI Global Metals & Mining Producers ETF1/5 short0/3 long−12.1%−6.0%−12.3%+6.0%+25.0%+65.9%+60.5%+247%28.1%0.48−52.7%0.39%$2.4B—
GOLD Financial - Capital MarketsGold.com, Inc.0/5 short0/3 long−13.4%−1.4%−15.7%+15.0%+49.4%+47.6%+36.8%+615%48.0%0.37−62.6%—$1.1B—
RIO Industrial MaterialsRio Tinto Group0/5 short0/3 long−13.7%−6.8%−14.2%+5.6%+23.3%+62.1%+75.6%+427%29.0%0.54−37.5%—$137B—
VALE Industrial MaterialsVale S.A.0/5 short0/3 long−14.0%−15.9%−28.3%−5.4%+14.7%+28.8%+36.8%+278%35.0%0.35−57.6%—$52B—
AA AluminumAlcoa Corporation0/5 short0/3 long−13.5%−16.1%−43.4%−31.2%+9.4%+71.0%−17.3%+103%55.1%0.21−90.9%—$10B—
IE CopperIvanhoe Electric Inc.0/5 short0/3 long−26.5%−13.7%−47.9%−51.7%−48.4%−27.4%————−71.1%—$1.3B—
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How did FCX do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where FCX ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with FCX 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 FCX; gray means the two finished within a fraction of a point. The rank row places FCX among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of FCX20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
FCX This pageFreeport-McMoRan Inc.—+35.4%−9.4%+13.7%−7.3%+61.4%+99.1%+29.6%−45.1%+43.8%+94.9%−70.2%−35.8%+19.9%−4.0%−36.9%+52.7%+228%−75.5%+86.9%+11.6%+49.1%−6.6%+154%+25.5%+56.5%−59.5%+102%−32.9%−45.6%
Rank among alternativesTop quarter in 7 of 2914 of 1812 of 187 of 1810 of 173 of 173 of 176 of 1713 of 178 of 154 of 1513 of 1511 of 142 of 1412 of 137 of 133 of 124 of 127 of 125 of 1210 of 125 of 129 of 124 of 114 of 92 of 99 of 93 of 98 of 97 of 9
SPY S&P 500State Street SPDR S&P 500 ETF15 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
TGB Trekor Metals Limited14 of 29+192%+38.6%−4.8%−28.3%+55.3%+175%+1.5%−79.7%+173%+151%−67.0%−51.4%−29.3%+9.9%−48.0%+24.4%+640%−89.0%+100%+112%−29.1%+3.0%+519%−6.9%−59.7%−49.0%−47.6%−4.3%−50.1%
SCCO Southern Copper Corporation21 of 29+66.7%+10.7%+50.3%+4.5%−0.4%+59.0%+44.6%−33.0%+50.3%+23.1%−6.2%−0.3%−22.5%+41.2%−33.4%+56.3%+109%−50.2%+111%+79.5%+60.3%+7.2%+236%+23.5%−4.2%−14.2%+65.5%−26.5%−1.5%
NEM Newmont Corporation10 of 29+173%−7.8%−8.8%−20.8%+7.4%+40.3%+30.5%−6.2%+10.9%+90.1%−4.4%−17.2%−48.5%−20.4%−0.6%+31.0%+17.3%−15.9%+9.1%−14.8%+21.4%−8.1%+68.2%+52.6%+12.7%−29.9%+35.0%−37.7%−34.1%
AEM Agnico Eagle Mines Limited15 of 29+120%+46.0%+9.0%+1.1%−22.8%+16.2%+54.2%−11.5%+10.5%+61.2%+6.8%−4.7%−48.3%+47.1%−52.1%+42.5%+5.6%−5.8%+32.9%+109%+43.9%+14.2%−18.6%+50.8%+65.0%−19.2%+82.3%−23.1%−61.3%
HBM Hudbay Minerals Inc.9 of 22+145%+47.2%+9.1%−29.9%+3.9%+69.4%−11.5%−46.3%+54.9%+49.3%−55.8%+6.2%−17.8%+3.3%−44.7%+41.9%+407%−87.0%+4.7%+272%+179%−67.5%———————
COPX Global X - Copper Miners ETF8 of 15+93.5%+3.5%+8.4%−0.8%+23.4%+51.5%+12.6%−31.3%+38.9%+70.4%−45.9%−19.6%−27.5%+4.8%−31.0%——————————————
CENX Century Aluminum Company11 of 29+115%+50.1%+48.4%−50.6%+50.1%+46.7%+2.9%−62.8%+129%+93.7%−81.9%+133%+19.4%+2.9%−45.2%−4.1%+61.9%−81.5%+20.8%+70.3%−0.2%+38.1%+157%−43.8%+18.5%−22.8%+63.4%−28.9%−20.7%
BHP BHP Group Limited14 of 29+28.9%−24.6%+16.4%+29.4%+2.0%+25.3%+24.6%+10.5%+33.8%+41.9%−38.1%−27.9%−9.8%+14.9%−22.0%+24.5%+85.2%−37.4%+79.4%+21.2%+42.0%+34.3%+62.6%+50.4%+8.7%−16.6%+91.5%−18.9%−32.0%
TECK Teck Resources Limited10 of 23+19.2%−2.6%+14.0%+33.8%+59.8%+5.8%−18.7%−16.9%+33.4%+421%−71.1%−44.9%−25.8%+5.9%−42.1%+78.7%+611%−86.1%−2.8%+47.1%+81.7%+87.5%+148%——————
ERO Ero Copper Corp.4 of 8+110%−14.6%+14.8%−10.1%−5.7%−11.0%+152%+21.5%—————————————————————
NEXA Nexa Resources S.A.3 of 8+2.7%+23.3%+21.8%−20.0%−16.4%+28.6%−28.3%−37.4%—————————————————————
PICK iShares MSCI Global Metals & Mining Producers ETF5 of 13+51.9%−16.4%+9.7%+2.6%+22.6%+27.5%+16.5%−18.6%+38.5%+54.7%−40.5%−19.7%−8.3%————————————————
GOLD Gold.com, Inc.6 of 11+29.5%−7.4%−8.9%+18.4%+146%+241%−29.9%−18.9%−23.4%+5.0%+92.2%——————————————————
RIO Rio Tinto Group16 of 29+44.5%−15.4%+11.1%+18.4%−0.4%+36.2%+37.5%−2.9%+44.9%+39.2%−33.4%−15.3%+0.6%+22.4%−30.5%+35.3%+195%−78.5%+102%+23.6%+57.1%+9.7%+45.6%+5.1%+12.6%−20.9%+115%−8.9%−16.4%
VALE Vale S.A.12 of 23+66.3%−38.8%+1.6%+32.5%−1.7%+32.0%+2.7%+12.3%+62.2%+134%−57.8%−44.1%−23.2%+3.3%−34.0%+21.2%+145%−61.8%+123%+47.5%+46.9%+50.6%+108%——————
AA Alcoa Corporation13 of 29+42.5%+12.5%−24.3%−23.1%+159%+7.1%−19.1%−50.7%+91.8%+28.3%−36.8%+49.9%+24.3%+1.7%−43.3%−3.6%+47.7%−68.2%+24.3%+4.2%−3.7%−15.7%+71.3%−34.5%+8.0%−17.9%+126%+7.7%+11.9%
IE Ivanhoe Electric Inc.1 of 3+112%−25.1%−17.0%——————————————————————————
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Risk and diversification

How FCX 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 FCX's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents FCX's five deepest drawdowns since it began trading in 1995, 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 FCX fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringFCX fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2015 China and oil sell-off−92.5%+62.7%Jan 2011Jan 20165 yearsMar 20226.2 years
2008 financial crisis−86.4%−37.4%May 2008Dec 20087 monthsJan 20112.1 years
Dot-com bust−80.1%+118%May 1996Nov 20004.5 yearsSep 20032.8 years
2022 bear market−51.3%−16.2%Mar 2022Jul 20224 monthsApr 202421 months
No named crash−46.3%−3.5%May 2024Apr 202511 monthsJan 20269 months

How did FCX do in stock market crashes?

This section measures how far FCX, 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 FCX.

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
FCX This pageFreeport-McMoRan Inc.—−7.2%−51.3%−56.1%−32.8%−8.4%−72.2%−46.7%−2.1%−86.4%−51.4%
SPY S&P 500State Street SPDR S&P 500 ETF10 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
TGB Trekor Metals Limited5 of 10−6.3%−61.9%−50.2%−44.2%−5.4%−55.6%−48.6%−1.2%−91.2%−82.1%
SCCO Southern Copper Corporation10 of 10−3.4%−43.0%−38.7%−32.0%−5.3%−26.0%−32.9%−0.4%−78.5%−42.5%
NEM Newmont Corporation7 of 10−1.0%−51.8%−24.5%−9.5%−6.0%−20.2%−12.0%−2.3%−61.5%−53.0%
AEM Agnico Eagle Mines Limited10 of 100.0%−42.0%−31.6%−11.6%−6.4%−20.2%−18.9%−0.4%−72.9%−42.4%
HBM Hudbay Minerals Inc.3 of 9−9.2%−63.3%−57.9%−30.1%−10.0%−74.5%−38.9%0.0%−91.9%—
COPX Global X - Copper Miners ETF8 of 8−5.1%−42.1%−47.4%−20.1%−7.5%−46.2%−45.8%−0.2%——
CENX Century Aluminum Company4 of 10−19.8%−82.1%−51.8%−48.6%−5.2%−59.6%−45.5%−4.3%−98.7%−72.6%
BHP BHP Group Limited10 of 10−2.2%−31.8%−38.1%−12.8%−6.4%−49.4%−30.7%0.0%−73.7%−32.6%
TECK Teck Resources Limited5 of 9−8.2%−43.6%−54.0%−26.9%−8.1%−65.4%−48.9%0.0%−94.8%—
ERO Ero Copper Corp.5 of 5−6.2%−49.1%−53.9%−29.2%−6.3%—————
NEXA Nexa Resources S.A.3 of 5−5.1%−53.3%−68.0%−14.3%−7.1%—————
PICK iShares MSCI Global Metals & Mining Producers ETF6 of 6−4.0%−36.4%−41.4%−18.0%−6.2%−41.8%————
GOLD Gold.com, Inc.5 of 6−2.0%−43.6%−14.7%−20.9%−15.8%−19.6%————
RIO Rio Tinto Group9 of 10−2.6%−35.3%−30.0%−13.2%−5.3%−43.9%−41.3%0.0%−89.0%−33.9%
VALE Vale S.A.9 of 9−3.1%−41.4%−45.5%−20.9%−5.3%−61.1%−33.4%−0.8%−79.5%—
AA Alcoa Corporation4 of 10−12.4%−64.5%−67.2%−42.6%−7.1%−38.6%−43.6%0.0%−87.8%−59.3%
IE Ivanhoe Electric Inc.0 of 1−15.4%—————————
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How closely does FCX 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 FCX 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 FCX's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
FCX This pageFreeport-McMoRan Inc.164%181%0.901.74
GOLD Gold.com, Inc.70%2%37.130.10
NEM Newmont Corporation68%45%1.520.39
SCCO Southern Copper Corporation139%103%1.351.13
RIO Rio Tinto Group98%72%1.350.63
AEM Agnico Eagle Mines Limited77%57%1.340.70
VALE Vale S.A.100%88%1.130.74
BHP BHP Group Limited106%97%1.100.87
TGB Trekor Metals Limited217%214%1.011.89
COPX Global X - Copper Miners ETF144%155%0.931.35
TECK Teck Resources Limited115%128%0.901.10
PICK iShares MSCI Global Metals & Mining Producers ETF115%133%0.861.12
HBM Hudbay Minerals Inc.193%234%0.821.95
CENX Century Aluminum Company218%296%0.742.41
AA Alcoa Corporation187%303%0.622.17
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What diversifies FCX?

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

ETFs

InvestmentCorrelation5Y returnSharpe20242022201820152014201220112008200420001998199780/20 mix volatility80/20 mix annual return
FCX Freeport-McMoRan Inc. (this page)1.00+83.7%0.50−9.4%−7.3%−45.1%−70.2%−35.8%−4.0%−36.9%−75.5%−6.6%−59.5%−32.9%−45.6%40.9%+18.2%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.43+225%1.34+29.8%+6.0%−19.8%+7.7%+8.1%+19.6%−16.1%−20.8%————33.9%+21.2%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.48+103%1.06+33.4%+10.4%−8.7%−25.3%+23.8%———————34.2%+18.8%
FTLS Broad MarketFirst Trust Long/Short Equity ETF0.42+61.5%0.97+18.8%−5.6%−4.8%+4.7%————————33.5%+18.0%
SMH TechnologyVanEck Semiconductor ETF0.41+304%0.94+39.1%−33.5%−9.1%−0.3%+30.2%+8.6%+6.8%−44.7%−19.3%———36.1%+23.4%
XLE EnergyState Street Energy Select Sector SPDR ETF0.43+178%0.94+5.6%+64.4%−18.2%−21.5%−8.7%+5.2%+2.8%−39.0%+33.8%+24.4%——35.3%+20.4%
GLD CommoditiesSPDR Gold Shares0.44+120%0.93+26.7%−0.8%−1.9%−10.7%−2.2%+6.6%+9.6%+4.9%————34.4%+19.4%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.34+130%0.91+45.8%−10.4%−0.9%—————————34.3%+20.2%
AMLP EnergyAlerian MLP ETF0.35+114%0.90+22.8%+25.5%−12.6%−25.7%+4.8%+1.9%+10.2%—————34.2%+19.5%

Stocks

InvestmentCorrelation5Y returnSharpe20242022201820152014201220112008200420001998199780/20 mix volatility80/20 mix annual return
FCX Freeport-McMoRan Inc. (this page)1.00+83.7%0.50−9.4%−7.3%−45.1%−70.2%−35.8%−4.0%−36.9%−75.5%−6.6%−59.5%−32.9%−45.6%40.9%+18.2%
CAH Medical - DistributionCardinal Health, Inc.0.21+471%1.54+19.0%+54.1%−24.5%+12.6%+23.0%+3.8%+8.1%−39.6%−4.7%+108%+51.7%+29.1%34.2%+23.6%
CLS Hardware, Equipment & PartsCelestica Inc.0.04+2,780%1.43+215%+1.3%−16.3%−6.0%+12.9%+11.2%−24.4%−20.5%−6.4%−2.3%——35.2%+37.4%
MCK Medical - DistributionMcKesson Corporation0.10+397%1.41+23.7%+51.8%−28.4%−4.5%+29.3%+25.6%+11.8%−40.4%−1.4%+61.2%+46.9%+96.3%33.6%+23.2%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.15+1,452%1.41+107%+17.0%+0.8%+67.7%−10.4%+15.7%−17.0%−15.2%+40.0%−71.1%−9.5%—35.2%+32.8%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.31+660%1.39−4.0%+86.6%−8.2%+17.4%+0.4%+94.3%——————35.3%+25.5%
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Common questions

What was FCX's worst drawdown?

FCX's deepest decline since it began trading in 1995 was 92.5%, from January 2011 to January 2016. It took about six years from the low to climb back to its old high.

What were FCX's best and worst years?

Over 29 full calendar years, FCX's best year was 2009, when it returned 228%. Its worst was 2008, with a return of -75.5%.

Is there a better investment than FCX?

Among FCX's popular alternatives, NEM, SCCO and AEM earned more than FCX with less volatility over the past 5 years. NEM returned 17.8% a year at 39.1% volatility, against 12.9% a year at 45.0%. Looking beyond its popular alternatives, RS (metals & mining) and B (gold mining) earned more than FCX with less volatility over the past 5 years. RS returned 24.8% a year at 28.1% volatility, against 12.9% a year at 45.0%.

Is FCX more volatile than the S&P 500?

Yes. FCX's volatility over the past 5 years was 45.0%, 2.6 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, FCX's return lands within 45.0% 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 FCX's Sharpe ratio?

FCX's Sharpe ratio over the past 5 years was 0.50, against 0.78 for the S&P 500, so FCX 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 FCX with the S&P 500?

Over the past 5 years, FCX's monthly returns had a correlation of 0.54 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 FCX instead: the lower it is, the more that option would diversify a FCX holding.

What are the best alternatives to FCX?

Of the 17 popular alternatives we compared, three outperformed FCX in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: TGB, SCCO and NEM.

Did FCX outperform the S&P 500?

FCX finished ahead of the S&P 500 (SPY) in 14 of 29 full calendar years. In 2025, it returned +35.4%, against +17.7% for the index.

How did FCX do in stock market crashes?

FCX fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in ten. The clearest case was the 2015 China and oil sell-off, when FCX fell 72.2% and the S&P 500 fell 12.8%.

What diversifies FCX?

These had a low correlation with FCX over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.43), EMLP (correlation 0.48) and FTLS (correlation 0.42); among large stocks, CAH (correlation 0.21), CLS (correlation 0.04) and MCK (correlation 0.10). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to FCX

Other stocks and ETFs