BetterThanSPY

Relative Intelligence · Freight & Logistics

How FedEx (FDX) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on FDX alone. It places FDX (FedEx Corporation) against 19 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 FDX stands in the market, and of the alternatives worth a closer look.

Period covered: FDX's full trading record, from October 1986 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 FDX →Chart FDX vs. 19 alternatives →

This page answers the following questions about FDX

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 FDX have grown?

This chart tracks a hypothetical $10,000 investment in FDX over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of FDX over the same span and FDX'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. 419 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of FDX; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M$10M199720022007201220172022$10,000$100,000$1M$10M19972004201120182025
  • AMZN$11M+114,749% total · +27.5% a year
  • ODFL$2M+21,393% total · +20.3% a year
  • JBHT$749,311+7,393% total · +16.0% a year
  • CNI$468,127+4,581% total · +14.2% a year
  • EXPD$460,426+4,504% total · +14.1% a year
  • KNX$214,840+2,048% total · +11.2% a year
  • NSC$171,092+1,611% total · +10.3% a year
  • ARCB$156,187+1,462% total · +9.9% a year
  • FDX$138,138+1,281% total · +9.5% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,088 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of FDX; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$20,000$40,000$60,000$80,000$100,000$120,000202120222023202420252026$0$50,000$100,000$150,000202120222023202420252026
  • TRMD$100,657+907% total · +58.7% a year
  • XPO$37,221+272% total · +30.1% a year
  • CMBT$35,998+260% total · +29.2% a year
  • MATX$28,987+190% total · +23.7% a year
  • SFL$24,877+149% total · +20.0% a year
  • CHRW$19,045+90.5% total · +13.8% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • FDX$17,773+77.7% total · +12.2% a year
  • EXPD$16,419+64.2% total · +10.4% a year
  • NSC$14,343+43.4% total · +7.5% a year
Change the dates or add tickers to this chart in EasyCompare

FDX 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
$72B
Industry
Integrated Freight & Logistics
Price history from
October 1986

Returns

Past 1 year
+59.7%total return
Past 3 years
+67.8%+18.8% a year
Past 5 years
+78.3%+12.3% a year
Past 10 years
+156%+9.9% a year
Best calendar year
+74.3%2020
Worst calendar year
−34.7%2018
Losing years
9 of 29full calendar years

Risk

Volatility
32.8%typical yearly swing, 5 years
Sharpe ratio
0.52return per unit of risk, 5 years
Worst decline ever
−71.3%Feb 2007 to Mar 2009
From its all-time high
−10.1%below the peak

FDX against the whole market

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

How does FDX rank among all stocks?

This section ranks FDX 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 FDX 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.

MeasureFDXRankStanding
1-year return+59.7%421 of 3,282top 13%
3-year return+67.8%1,327 of 3,016top 44%
5-year return+78.3%834 of 2,897top 29%
10-year return+156%1,054 of 2,201top 48%
Volatility, 5 years32.8%980 of 2,897top 34%
Sharpe ratio, 5 years0.52886 of 2,897top 31%
Worst decline, past 10 years−66.0%1,140 of 2,184bottom 49%

What has beaten FDX 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). FDX sits where the dashed lines cross. Anything in the green box above and to the left earned more than FDX 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 FDX; faint dots are 94 more of the 321 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.

5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than FDXJNJ: +13.5% a year, volatility 18.0%KO: +15.2% a year, volatility 16.8%COST: +17.4% a year, volatility 22.9%PM: +21.3% a year, volatility 23.4%MRK: +16.1% a year, volatility 24.8%AMGN: +20.1% a year, volatility 24.9%TD: +16.5% a year, volatility 20.0%IBM: +20.1% a year, volatility 30.2%VGT: +18.1% a year, volatility 26.1%PGR: +21.8% a year, volatility 25.7%CB: +15.8% a year, volatility 20.4%CM: +19.5% a year, volatility 21.6%DE: +15.1% a year, volatility 29.9%TRV: +22.4% a year, volatility 22.3%GWW: +26.7% a year, volatility 24.9%COR: +23.6% a year, volatility 22.8%MNST: +17.4% a year, volatility 24.9%RSG: +14.1% a year, volatility 18.6%MSI: +15.2% a year, volatility 23.6%ALL: +17.9% a year, volatility 26.2%FAST: +16.2% a year, volatility 24.6%AME: +13.5% a year, volatility 22.2%CBOE: +22.0% a year, volatility 25.1%EFV: +13.6% a year, volatility 15.9%FNDX: +13.6% a year, volatility 14.9%FNDF: +13.6% a year, volatility 16.3%RS: +24.8% a year, volatility 28.1%HDV: +13.3% a year, volatility 13.0%OEF: +14.1% a year, volatility 17.8%RNR: +20.6% a year, volatility 27.9%EWT: +19.8% a year, volatility 24.3%IOO: +15.6% a year, volatility 17.2%FDL: +14.6% a year, volatility 14.5%CACI: +16.8% a year, volatility 30.0%AIZ: +13.7% a year, volatility 25.3%VLUE: +16.2% a year, volatility 18.4%WTS: +14.8% a year, volatility 28.4%NEU: +20.9% a year, volatility 26.8%THG: +15.2% a year, volatility 22.9%RECS: +13.3% a year, volatility 16.4%NHC: +31.2% a year, volatility 28.6%ABBV: +25.5% a year, volatility 23.4%RSPT: +16.6% a year, volatility 25.1%WTM: +15.4% a year, volatility 23.6%TDIV: +16.5% a year, volatility 21.3%DXJ: +26.6% a year, volatility 19.1%LVHI: +16.9% a year, volatility 11.1%CVX: +19.7% a year, volatility 25.2%WTV: +13.6% a year, volatility 17.0%NIC: +19.7% a year, volatility 30.2%MUFG: +33.5% a year, volatility 29.4%PWV: +13.7% a year, volatility 14.2%NVS: +17.4% a year, volatility 20.7%MCK: +37.8% a year, volatility 25.1%RTX: +18.7% a year, volatility 24.4%CNXN: +16.6% a year, volatility 29.2%CHCO: +15.1% a year, volatility 22.8%GILD: +22.8% a year, volatility 24.9%SRCE: +14.8% a year, volatility 27.0%BFC: +18.7% a year, volatility 27.4%TTE: +18.8% a year, volatility 25.8%QCRH: +15.0% a year, volatility 29.1%RBCAA: +14.8% a year, volatility 28.0%BTI: +19.4% a year, volatility 22.0%VRTX: +23.9% a year, volatility 29.1%MO: +18.3% a year, volatility 21.4%CTBI: +14.8% a year, volatility 26.4%NPK: +16.5% a year, volatility 27.3%DGT: +13.9% a year, volatility 15.1%THFF: +16.2% a year, volatility 26.2%MFC: +23.3% a year, volatility 24.0%BMO: +14.0% a year, volatility 21.4%ORRF: +16.9% a year, volatility 28.7%CCBG: +16.3% a year, volatility 27.5%IDOG: +14.1% a year, volatility 15.6%KMI: +20.1% a year, volatility 22.3%RCBC: +15.3% a year, volatility 27.2%CTAS: +17.1% a year, volatility 23.1%HLT: +20.7% a year, volatility 26.8%GVAL: +14.2% a year, volatility 18.7%AFL: +19.5% a year, volatility 20.8%JCI: +16.4% a year, volatility 29.2%ROST: +17.8% a year, volatility 29.5%LNG: +23.4% a year, volatility 30.2%CCEP: +20.4% a year, volatility 23.3%WMT: +21.1% a year, volatility 22.6%CTVA: +16.2% a year, volatility 28.4%ACGL: +20.1% a year, volatility 24.5%SDCI: +21.1% a year, volatility 18.4%HIG: +15.8% a year, volatility 22.0%TPYP: +17.2% a year, volatility 17.3%KOF: +22.4% a year, volatility 24.7%WRB: +18.6% a year, volatility 22.9%IHG: +21.7% a year, volatility 26.6%FDX: +12.3% a year, volatility 32.8%SPY (S&P 500): +12.5% a year, volatility 17.2%EXPD: +11.1% a year, volatility 27.1%NSC: +5.6% a year, volatility 24.9%CHRW: +9.8% a year, volatility 34.4%JBHT: +4.3% a year, volatility 32.8%SFL: +18.5% a year, volatility 30.4%TRMD: +54.8% a year, volatility 46.0%MATX: +23.5% a year, volatility 39.5%CMBT: +25.9% a year, volatility 42.9%EBAY: +10.6% a year, volatility 32.8%R: +27.5% a year, volatility 32.9%RY: +17.5% a year, volatility 18.2%CAH: +41.7% a year, volatility 24.7%AAPL: +19.1% a year, volatility 28.0%BRK-A: +13.5% a year, volatility 17.2%JPM: +17.3% a year, volatility 24.3%QQQ: +14.2% a year, volatility 23.0%LLY: +41.2% a year, volatility 32.8%VTI: +11.4% a year, volatility 17.5%FDXSPY (S&P 500)EXPDNSCCHRWJBHTSFLTRMDMATXCMBTEBAYRRYCAHAAPLBRK-AJPMQQQLLY0.0%10.0%20.0%30.0%40.0%50.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than FDXJNJ: +13.5% a year, volatility 18.0%KO: +15.2% a year, volatility 16.8%COST: +17.4% a year, volatility 22.9%PM: +21.3% a year, volatility 23.4%MRK: +16.1% a year, volatility 24.8%AMGN: +20.1% a year, volatility 24.9%TD: +16.5% a year, volatility 20.0%IBM: +20.1% a year, volatility 30.2%VGT: +18.1% a year, volatility 26.1%PGR: +21.8% a year, volatility 25.7%CB: +15.8% a year, volatility 20.4%CM: +19.5% a year, volatility 21.6%DE: +15.1% a year, volatility 29.9%TRV: +22.4% a year, volatility 22.3%GWW: +26.7% a year, volatility 24.9%COR: +23.6% a year, volatility 22.8%MNST: +17.4% a year, volatility 24.9%RSG: +14.1% a year, volatility 18.6%MSI: +15.2% a year, volatility 23.6%ALL: +17.9% a year, volatility 26.2%FAST: +16.2% a year, volatility 24.6%AME: +13.5% a year, volatility 22.2%CBOE: +22.0% a year, volatility 25.1%EFV: +13.6% a year, volatility 15.9%FNDX: +13.6% a year, volatility 14.9%FNDF: +13.6% a year, volatility 16.3%RS: +24.8% a year, volatility 28.1%HDV: +13.3% a year, volatility 13.0%OEF: +14.1% a year, volatility 17.8%RNR: +20.6% a year, volatility 27.9%EWT: +19.8% a year, volatility 24.3%IOO: +15.6% a year, volatility 17.2%FDL: +14.6% a year, volatility 14.5%CACI: +16.8% a year, volatility 30.0%AIZ: +13.7% a year, volatility 25.3%VLUE: +16.2% a year, volatility 18.4%WTS: +14.8% a year, volatility 28.4%NEU: +20.9% a year, volatility 26.8%THG: +15.2% a year, volatility 22.9%RECS: +13.3% a year, volatility 16.4%NHC: +31.2% a year, volatility 28.6%ABBV: +25.5% a year, volatility 23.4%RSPT: +16.6% a year, volatility 25.1%WTM: +15.4% a year, volatility 23.6%TDIV: +16.5% a year, volatility 21.3%DXJ: +26.6% a year, volatility 19.1%LVHI: +16.9% a year, volatility 11.1%CVX: +19.7% a year, volatility 25.2%WTV: +13.6% a year, volatility 17.0%NIC: +19.7% a year, volatility 30.2%MUFG: +33.5% a year, volatility 29.4%PWV: +13.7% a year, volatility 14.2%NVS: +17.4% a year, volatility 20.7%MCK: +37.8% a year, volatility 25.1%RTX: +18.7% a year, volatility 24.4%CNXN: +16.6% a year, volatility 29.2%CHCO: +15.1% a year, volatility 22.8%GILD: +22.8% a year, volatility 24.9%SRCE: +14.8% a year, volatility 27.0%BFC: +18.7% a year, volatility 27.4%TTE: +18.8% a year, volatility 25.8%QCRH: +15.0% a year, volatility 29.1%RBCAA: +14.8% a year, volatility 28.0%BTI: +19.4% a year, volatility 22.0%VRTX: +23.9% a year, volatility 29.1%MO: +18.3% a year, volatility 21.4%CTBI: +14.8% a year, volatility 26.4%NPK: +16.5% a year, volatility 27.3%DGT: +13.9% a year, volatility 15.1%THFF: +16.2% a year, volatility 26.2%MFC: +23.3% a year, volatility 24.0%BMO: +14.0% a year, volatility 21.4%ORRF: +16.9% a year, volatility 28.7%CCBG: +16.3% a year, volatility 27.5%IDOG: +14.1% a year, volatility 15.6%KMI: +20.1% a year, volatility 22.3%RCBC: +15.3% a year, volatility 27.2%CTAS: +17.1% a year, volatility 23.1%HLT: +20.7% a year, volatility 26.8%GVAL: +14.2% a year, volatility 18.7%AFL: +19.5% a year, volatility 20.8%JCI: +16.4% a year, volatility 29.2%ROST: +17.8% a year, volatility 29.5%LNG: +23.4% a year, volatility 30.2%CCEP: +20.4% a year, volatility 23.3%WMT: +21.1% a year, volatility 22.6%CTVA: +16.2% a year, volatility 28.4%ACGL: +20.1% a year, volatility 24.5%SDCI: +21.1% a year, volatility 18.4%HIG: +15.8% a year, volatility 22.0%TPYP: +17.2% a year, volatility 17.3%KOF: +22.4% a year, volatility 24.7%WRB: +18.6% a year, volatility 22.9%IHG: +21.7% a year, volatility 26.6%FDX: +12.3% a year, volatility 32.8%SPY (S&P 500): +12.5% a year, volatility 17.2%EXPD: +11.1% a year, volatility 27.1%NSC: +5.6% a year, volatility 24.9%CHRW: +9.8% a year, volatility 34.4%JBHT: +4.3% a year, volatility 32.8%SFL: +18.5% a year, volatility 30.4%TRMD: +54.8% a year, volatility 46.0%MATX: +23.5% a year, volatility 39.5%CMBT: +25.9% a year, volatility 42.9%EBAY: +10.6% a year, volatility 32.8%R: +27.5% a year, volatility 32.9%RY: +17.5% a year, volatility 18.2%CAH: +41.7% a year, volatility 24.7%AAPL: +19.1% a year, volatility 28.0%BRK-A: +13.5% a year, volatility 17.2%JPM: +17.3% a year, volatility 24.3%QQQ: +14.2% a year, volatility 23.0%LLY: +41.2% a year, volatility 32.8%VTI: +11.4% a year, volatility 17.5%FDXSPY (S&P 500)NSCJBHTSFLTRMDMATXRRYCAHBRK-AJPMLLY
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than FDX?

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

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

Screen the whole market against FDX for any period in BetterThanSPYOpen these 19 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 FDX?lower diversifies moreExpenseper year
FDXFedEx Corporation · this page
+12.3%32.8%0.52−66.0%+156%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.5%17.2%0.78−33.7%+316%0.630.09%
Popular alternativesbest 4 shownThe investments people most often weigh against FDX. 4 of 18 passed at least one test.
EXPDExpeditors International of Washington, Inc. · Freight & Logistics
Higher return in most periodsSmaller losses in recent crashes+11.1%27.1%0.53−35.6%+338%0.55—
NSCNorfolk Southern Corporation · Railroads
Higher return in most periods+5.6%24.9%0.34−44.4%+345%0.50—
CHRWC.H. Robinson Worldwide, Inc. · Freight & Logistics
Smaller losses in recent crashes+9.8%34.4%0.45−40.6%+159%0.40—
JBHTJ.B. Hunt Transport Services, Inc. · Freight & Logistics
Smaller losses in recent crashes+4.3%32.8%0.29−42.4%+221%0.61—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Freight & Logistics and the categories next to it (Trucking, E-Commerce, Railroads, Marine Shipping), plus FDX's specific themes. 22 of 59 passed at least one test.
SFLSFL Corporation Ltd · Marine Shipping
Higher return, lower volatilityHigher Sharpe, smaller worst decline+18.5%30.4%0.72−55.3%+136%0.23—
TRMDTORM plc · Marine Shipping
Higher Sharpe, smaller worst declineHigher return in most periods+54.8%46.0%1.19−60.6%—0.11—
MATXMatson, Inc. · Marine Shipping
Higher Sharpe, smaller worst declineHigher return in most periods+23.5%39.5%0.73−53.6%+554%0.41—
CMBTCmb.Tech N.V. · Marine Shipping
Higher Sharpe, smaller worst declineHigher return in most periods+25.9%42.9%0.75−57.2%+448%0.06—
EBAYeBay Inc. · E-Commerce
Higher return in most periodsSmaller losses in recent crashes+10.6%32.8%0.47−53.6%+374%0.37—
RRyder System, Inc. · Freight & Logistics
Higher return, similar volatilityHigher return in most periods+27.5%32.9%0.90−72.3%+447%0.50—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,107 of 3,573 passed at least one test.
RYRoyal Bank of Canada · Banks
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+17.5%18.2%0.98−40.0%+361%0.35—
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+41.7%24.7%1.54−46.1%+345%0.20—
AAPLApple Inc. · Computer Hardware
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+19.1%28.0%0.77−38.5%+1,194%0.41—
BRK-ABerkshire Hathaway Inc. · Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+13.5%17.2%0.83−30.4%+281%0.30—
JPMJPMorgan Chase & Co. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+17.3%24.3%0.78−43.6%+534%0.41—
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+14.2%23.0%0.69−35.1%+531%0.520.18%
LLYEli Lilly and Company · Pharmaceuticals
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+41.2%32.8%1.22−34.5%+1,870%0.14—
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+11.4%17.5%0.71−35.0%+298%0.620.03%
What these numbers mean for FDX
Annual return
FDX returned 12.3% 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 $17,800. 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
FDX's volatility over the past 5 years was 32.8%, about twice the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, FDX's return lands within 32.8% 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
FDX's Sharpe ratio over the past 5 years was 0.52, against 0.78 for the S&P 500, so FDX 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
FDX's worst fall from a peak to a low over the past 10 years was 66.0%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 66.0% fall takes a 194% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, FDX's monthly returns had a correlation of 0.63 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 FDX instead: the lower it is, the more that option would diversify a FDX holding. Guide: Correlation and diversification →
Show all 321 stocks and funds worth at least $500 million that earned more than FDX 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 FDXExpense
1
RYRoyal Bank of Canada · Banks
Whole market+17.5%18.2%0.98−40.0%+361%0.35—
2
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+41.7%24.7%1.54−46.1%+345%0.20—
3
AAPLApple Inc. · Computer Hardware
Whole market+19.1%28.0%0.77−38.5%+1,194%0.41—
4
BRK-ABerkshire Hathaway Inc. · Insurance
Whole market+13.5%17.2%0.83−30.4%+281%0.30—
5
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+534%0.41—
6
JNJJohnson & Johnson · Pharmaceuticals
Whole market+13.5%18.0%0.80−27.4%+209%0.27—
7
KOThe Coca-Cola Company · Nonalcoholic Beverages
Whole market+15.2%16.8%0.93−37.0%+205%0.39—
8
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+692%0.36—
9
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.2%23.0%0.69−35.1%+531%0.520.18%
10
PMPhilip Morris International Inc. · Tobacco
Whole market+21.3%23.4%0.94−42.9%+240%0.28—
11
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.1%24.8%0.73−43.4%+245%0.23—
12
AMGNAmgen Inc. · Biotechnology
Whole market+20.1%24.9%0.86−24.9%+280%0.36—
13
TDThe Toronto-Dominion Bank · Banks
Whole market+16.5%20.0%0.87−42.0%+319%0.35—
14
IBMInternational Business Machines Corporation · IT Services
Whole market+20.1%30.2%0.76−41.1%+163%0.18—
15
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.1%26.1%0.77−35.1%+753%0.500.09%
16
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.8%25.7%0.90−30.3%+849%0.21—
17
CBChubb Limited · Property & Casualty Insurance
Whole market+15.8%20.4%0.82−42.6%+256%0.26—
18
CMCanadian Imperial Bank of Commerce · Banks
Whole market+19.5%21.6%0.94−47.3%+409%0.40—
19
DEDeere & Company · Industrial Machinery
Whole market+15.1%29.9%0.62−37.9%+764%0.39—
20
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+360%0.24—
21
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.7%24.9%1.08−41.6%+670%0.42—
22
CORCencora, Inc. · Health Care Distribution
Whole market+23.6%22.8%1.05−32.4%+403%0.34—
23
MNSTMonster Beverage Corporation · Nonalcoholic Beverages
Whole market+17.4%24.9%0.77−30.4%+278%0.33—
24
RSGRepublic Services, Inc. · Waste Management
Whole market+14.1%18.6%0.80−34.0%+461%0.33—
25
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+15.2%23.6%0.72−32.8%+639%0.52—
26
ALLThe Allstate Corporation · Property & Casualty Insurance
Whole market+17.9%26.2%0.76−41.4%+377%0.11—
27
FASTFastenal Company · Industrial Distribution
Whole market+16.2%24.6%0.74−30.7%+582%0.31—
28
AMEAMETEK, Inc. · Electronic Instruments
Whole market+13.5%22.2%0.68−42.7%+466%0.48—
29
CBOECboe Global Markets, Inc. · Capital Markets
Whole market+22.0%25.1%0.92−43.2%+481%0.26—
30
EFViShares MSCI EAFE Value ETF · International Large-Cap Value
Whole market+13.6%15.9%0.89−43.2%+156%0.560.31%
31
FNDXSchwab Fundamental U.S. Large Company ETF · US Large-Cap Value
Whole market+13.6%14.9%0.93−37.7%+292%0.670.25%
32
FNDFSchwab Fundamental International Large Company Index ETF · International Large-Cap Equity
Whole market+13.6%16.3%0.87−40.2%+193%0.640.25%
33
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.94−40.8%+639%0.32—
34
HDViShares Core High Dividend ETF · High Dividend Yield
Whole market+13.3%13.0%1.03−37.0%+177%0.610.08%
35
OEFiShares S&P 100 ETF · US Large-Cap Equity
Whole market+14.1%17.8%0.83−31.4%+360%0.590.20%
36
RNRRenaissanceRe Holdings Ltd. · Insurance
Whole market+20.6%27.9%0.81−40.7%+222%0.22—
37
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+19.8%24.3%0.87−38.9%+448%0.560.59%
38
IOOiShares Global 100 ETF · Global Equity
Whole market+15.6%17.2%0.94−31.4%+357%0.620.40%
39
FDLFirst Trust Morningstar Dividend Leaders Index Fund · High Dividend Yield
Whole market+14.6%14.5%1.02−41.4%+207%0.600.43%
40
CACICACI International Inc · Business Services
Whole market+16.8%30.0%0.67−42.9%+512%0.19—
41
AIZAssurant, Inc. · Property & Casualty Insurance
Whole market+13.7%25.3%0.64−44.6%+322%0.28—
42
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+16.2%18.4%0.91−39.5%+286%0.620.15%
43
WTSWatts Water Technologies, Inc. · Industrial Machinery
Whole market+14.8%28.4%0.63−44.1%+533%0.41—
44
NEUNewMarket Corporation · Specialty Chemicals
Whole market+20.9%26.8%0.85−40.7%+162%0.10—
45
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance
Whole market+15.2%22.9%0.73−40.1%+309%0.17—
46
RECSColumbia Research Enhanced Core ETF · Active Core Equity
Whole market+13.3%16.4%0.85−34.3%+237%0.630.15%
47
NHCNational HealthCare Corporation · Health Care Facilities
Whole market+31.2%28.6%1.10−35.3%+385%0.26—
48
ABBVAbbVie Inc. · Specialty Pharmaceuticals
Whole market+25.5%23.4%1.09−45.1%+600%0.24—
49
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.6%25.1%0.74−33.7%+559%0.540.40%
50
WTMWhite Mountains Insurance Group, Ltd. · Insurance
Whole market+15.4%23.6%0.73−40.2%+174%0.40—
51
TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity
Whole market+16.5%21.3%0.83−32.0%+384%0.590.50%
52
DXJWisdomTree Japan Hedged Equity Fund · Japan Equity
Whole market+26.6%19.1%1.34−39.1%+415%0.610.48%
53
LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity
Whole market+16.9%11.1%1.48−32.4%+194%0.600.40%
54
CVXChevron Corporation · Integrated Oil & Gas
Whole market+19.7%25.2%0.84−55.8%+243%0.32—
55
WTVWisdomTree U.S. Value Fund · US Value Equity
Whole market+13.6%17.0%0.84−42.2%+306%0.610.12%
56
NICNicolet Bankshares, Inc. · Regional Banks
Whole market+19.7%30.2%0.75−44.3%+354%0.27—
57
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.5%29.4%1.14−54.9%+485%0.30—
58
PWVInvesco Large Cap Value ETF · US Large-Cap Value
Whole market+13.7%14.2%0.98−37.6%+226%0.620.55%
59
NVSNovartis AG · Pharmaceuticals
Whole market+17.4%20.7%0.89−26.8%+234%0.43—
60
MCKMcKesson Corporation · Health Care Distribution
Whole market+37.8%25.1%1.41−38.1%+582%0.30—
61
RTXRTX Corporation · Aerospace & Defense
Whole market+18.7%24.4%0.83−52.0%+319%0.11—
62
CNXNPC Connection, Inc. · Technology Distribution
Whole market+16.6%29.2%0.67−41.8%+286%0.11—
63
CHCOCity Holding Company · Regional Banks
Whole market+15.1%22.8%0.73−32.3%+272%0.25—
64
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+202%0.32—
65
SRCE1st Source Corporation · Regional Banks
Whole market+14.8%27.0%0.65−51.7%+221%0.23—
66
BFCBank First Corporation · Regional Banks
Whole market+18.7%27.4%0.76−39.8%+485%0.21—
67
TTETotalEnergies SE · Integrated Oil & Gas
Whole market+18.8%25.8%0.80−59.6%+237%0.36—
68
QCRHQCR Holdings, Inc. · Regional Banks
Whole market+15.0%29.1%0.63−53.0%+243%0.38—
69
RBCAARepublic Bancorp, Inc. · Regional Banks
Whole market+14.8%28.0%0.63−44.7%+287%0.28—
70
BTIBritish American Tobacco p.l.c. · Tobacco
Whole market+19.4%22.0%0.92−56.1%+110%0.26—
71
VRTXVertex Pharmaceuticals Incorporated · Rare Disease Therapeutics
Whole market+23.9%29.1%0.89−41.6%+580%0.15—
72
MOAltria Group, Inc. · Tobacco
Whole market+18.3%21.4%0.90−53.7%+133%0.28—
73
CTBICommunity Trust Bancorp, Inc. · Regional Banks
Whole market+14.8%26.4%0.66−43.0%+177%0.31—
74
NPKNational Presto Industries, Inc. · Aerospace & Defense
Whole market+16.5%27.3%0.70−45.5%+175%0.27—
75
DGTState Street SPDR Global Dow ETF · Global Equity
Whole market+13.9%15.1%0.95−34.4%+260%0.660.50%
76
THFFFirst Financial Corporation · Regional Banks
Whole market+16.2%26.2%0.71−42.8%+164%0.19—
77
MFCManulife Financial Corporation · Life Insurance
Whole market+23.3%24.0%1.00−57.5%+386%0.40—
78
BMOBank of Montreal · Banks
Whole market+14.0%21.4%0.72−51.0%+304%0.39—
79
ORRFOrrstown Financial Services, Inc. · Regional Banks
Whole market+16.9%28.7%0.69−54.7%+187%0.26—
80
CCBGCapital City Bank Group, Inc. · Regional Banks
Whole market+16.3%27.5%0.69−45.2%+305%0.16—
81
IDOGALPS International Sector Dividend Dogs ETF · International Dividend Equity
Whole market+14.1%15.6%0.93−37.3%+180%0.550.50%
82
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Whole market+20.1%22.3%0.94−55.1%+159%0.46—
83
RCBCRiver City Bank · Regional Banks
Whole market+15.3%27.2%0.66−45.5%+354%0.03—
84
CTASCintas Corporation · Business Services
Whole market+17.1%23.1%0.80−48.4%+834%0.36—
85
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+20.7%26.8%0.84−50.8%+693%0.42—
86
GVALCambria Global Value ETF · Global Equity
Whole market+14.2%18.7%0.81−46.8%+168%0.460.68%
87
AFLAflac Incorporated · Life Insurance
Whole market+19.5%20.8%0.97−54.9%+344%0.33—
88
JCIJohnson Controls International plc · Building Products
Whole market+16.4%29.2%0.67−46.4%+407%0.41—
89
ROSTRoss Stores, Inc. · Apparel Retail
Whole market+17.8%29.5%0.71−51.4%+311%0.19—
90
LNGCheniere Energy, Inc. · Oil & Gas
Whole market+23.4%30.2%0.85−57.5%+635%0.14—
91
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Whole market+20.4%23.3%0.92−48.8%+294%0.45—
92
WMTWalmart Inc. · Discount Retail
Whole market+21.1%22.6%0.97−25.7%+521%0.20—
93
CTVACorteva, Inc. · Chemicals
Whole market+16.2%28.4%0.67−34.7%—0.30—
94
ACGLArch Capital Group Ltd. · Property & Casualty Insurance
Whole market+20.1%24.5%0.87−53.8%+316%0.22—
95
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Broad Commodities
Whole market+21.1%18.4%1.14−45.7%—0.210.80%
96
HIGThe Hartford Insurance Group, Inc. · Property & Casualty Insurance
Whole market+15.8%22.0%0.78−57.6%+302%0.28—
97
TPYPTortoise North American Pipeline ETF · Energy Infrastructure
Whole market+17.2%17.3%1.01−51.9%+188%0.550.40%
98
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.4%24.7%0.95−55.1%+119%0.31—
99
WRBW. R. Berkley Corporation · Property & Casualty Insurance
Whole market+18.6%22.9%0.86−45.3%+466%0.15—
100
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.7%26.6%0.88−59.3%+387%0.38—

FDX against its popular alternatives

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

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

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

15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%55.0%−20.0%−10.0%0.0%10.0%20.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityFDX: 12.3% a year, volatility 32.8%SPY (S&P 500): 12.5% a year, volatility 17.2%AMZN: 8.5% a year, volatility 36.6%ARCB: 8.6% a year, volatility 49.5%ODFL: 3.9% a year, volatility 36.9%SAIA: 4.9% a year, volatility 51.8%TFII: 0.8% a year, volatility 37.7%JBHT: 4.3% a year, volatility 32.8%CHRW: 9.8% a year, volatility 34.4%GXO: −10.6% a year, volatility 42.2%KNX: 3.3% a year, volatility 33.9%BA: −2.5% a year, volatility 36.8%HUBG: −6.8% a year, volatility 35.9%EXPD: 11.1% a year, volatility 27.1%NSC: 5.6% a year, volatility 24.9%XPO: 30.0% a year, volatility 47.0%CNI: 0.5% a year, volatility 21.9%UPS: −8.8% a year, volatility 28.9%SNDR: 6.1% a year, volatility 31.5%WERN: −7.7% a year, volatility 31.7%FDXSPY (S&P 500)AMZNARCBODFLSAIATFIIJBHTCHRWGXOBAHUBGEXPDNSCXPOCNIUPSSNDRWERN10.0%20.0%30.0%40.0%50.0%60.0%−20.0%−10.0%0.0%10.0%20.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityFDX: 12.3% a year, volatility 32.8%SPY (S&P 500): 12.5% a year, volatility 17.2%AMZN: 8.5% a year, volatility 36.6%ARCB: 8.6% a year, volatility 49.5%ODFL: 3.9% a year, volatility 36.9%SAIA: 4.9% a year, volatility 51.8%TFII: 0.8% a year, volatility 37.7%JBHT: 4.3% a year, volatility 32.8%CHRW: 9.8% a year, volatility 34.4%GXO: −10.6% a year, volatility 42.2%KNX: 3.3% a year, volatility 33.9%BA: −2.5% a year, volatility 36.8%HUBG: −6.8% a year, volatility 35.9%EXPD: 11.1% a year, volatility 27.1%NSC: 5.6% a year, volatility 24.9%XPO: 30.0% a year, volatility 47.0%CNI: 0.5% a year, volatility 21.9%UPS: −8.8% a year, volatility 28.9%SNDR: 6.1% a year, volatility 31.5%WERN: −7.7% a year, volatility 31.7%FDXSPY (S&P 500)AMZNARCBODFLSAIATFIIJBHTCHRWGXOBAHUBGNSCXPOCNIUPSSNDR
All figures
InvestmentAnnual returnVolatility
XPO XPO Logistics, Inc.+30.0%47.0%
SPY S&P 500State Street SPDR S&P 500 ETF+12.5%17.2%
FDX This pageFedEx Corporation+12.3%32.8%
EXPD Expeditors International of Washington, Inc.+11.1%27.1%
CHRW C.H. Robinson Worldwide, Inc.+9.8%34.4%
ARCB ArcBest Corp+8.6%49.5%
AMZN Amazon.com, Inc.+8.5%36.6%
SNDR Schneider National, Inc.+6.1%31.5%
NSC Norfolk Southern Corporation+5.6%24.9%
SAIA Saia, Inc.+4.9%51.8%
JBHT J.B. Hunt Transport Services, Inc.+4.3%32.8%
ODFL Old Dominion Freight Line, Inc.+3.9%36.9%
KNX Knight-Swift Transportation Holdings Inc.+3.3%33.9%
TFII TFI International Inc.+0.8%37.7%
CNI Canadian National Railway Company+0.5%21.9%
BA The Boeing Company−2.5%36.8%
HUBG Hub Group, Inc.−6.8%35.9%
WERN Werner Enterprises, Inc.−7.7%31.7%
UPS United Parcel Service, Inc.−8.8%28.9%
GXO GXO Logistics, Inc.−10.6%42.2%
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Has FDX consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than FDX 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
FDX FedEx Corporation (this page)—+2.7%−5.0%−1.8%+29.8%+59.7%+67.8%+78.3%+156%32.8%0.52−66.0%—$72B—
EXPD QualifiedExpeditors International of Washington, Inc.4/5 short2/3 long+4.6%+10.6%+32.8%+29.9%+67.1%+78.7%+68.9%+338%27.1%0.53−35.6%—$26B—
NSC QualifiedNorfolk Southern Corporation3/5 short2/3 long+7.7%+2.6%+14.3%+19.0%+19.2%+83.0%+31.1%+345%24.9%0.34−44.4%—$76B—
XPO TruckingXPO Logistics, Inc.2/5 short3/3 long+6.2%−11.7%−14.6%+36.0%+43.8%+163%+271%+1,487%47.0%0.79−64.5%—$22B—
AMZN Specialty RetailAmazon.com, Inc.1/5 short2/3 long−1.8%+2.3%−1.9%+10.5%+14.9%+97.8%+50.1%+498%36.6%0.41−56.1%—$2.7T—
ARCB TruckingArcBest Corp3/5 short1/3 long−1.1%−18.2%+10.2%+69.4%+72.7%+40.5%+51.0%+607%49.5%0.41−67.8%—$2.9B—
ODFL TruckingOld Dominion Freight Line, Inc.1/5 short1/3 long+7.1%−18.3%−13.4%+19.8%+35.5%−0.3%+21.1%+738%36.9%0.29−45.2%—$39B—
SAIA TruckingSaia, Inc.0/5 short1/3 long−1.1%−19.2%−20.2%+2.2%+11.4%−9.0%+26.7%+1,056%51.8%0.36−60.9%—$9.2B—
TFII TruckingTFI International Inc.0/5 short1/3 long−7.7%−24.3%−14.8%+9.2%+24.9%+3.3%+4.3%+586%37.7%0.21−53.8%—$9.5B—
JBHT Integrated Freight & LogisticsJ.B. Hunt Transport Services, Inc.0/5 short1/3 long−2.9%−21.0%−6.3%+17.8%+38.0%+37.5%+23.4%+221%32.8%0.29−42.4%—$22B—
CHRW Integrated Freight & LogisticsC.H. Robinson Worldwide, Inc.0/5 short1/3 long−4.8%−31.1%−21.4%−12.1%+13.6%+80.8%+59.8%+159%34.4%0.45−40.6%—$17B—
RXO TruckingRXO, Inc.5/5 short0/3 long+46.1%+0.8%+51.2%+125%+65.1%+52.4%————−67.2%—$4.8B—
CNI RailroadsCanadian National Railway Company3/5 short0/3 long+4.5%−1.8%+15.4%+26.7%+33.1%+26.6%+2.5%+131%21.9%0.13−29.1%—$76B—
UPS Integrated Freight & LogisticsUnited Parcel Service, Inc.2/5 short0/3 long+5.9%−11.0%−0.4%+5.3%+24.2%−18.6%−36.9%+38.2%28.9%-0.17−57.9%—$76B—
GXO Integrated Freight & LogisticsGXO Logistics, Inc.1/5 short0/3 long+6.9%−9.4%−14.7%−9.9%−8.7%−5.1%−42.9%—42.2%-0.06−69.6%—$5.6B—
SNDR TruckingSchneider National, Inc.1/5 short0/3 long−4.2%−18.4%+4.9%+16.5%+34.0%+23.4%+34.7%—31.5%0.35−44.0%—$5.5B—
KNX TruckingKnight-Swift Transportation Holdings Inc.0/5 short0/3 long−6.8%−17.5%−1.8%+20.7%+33.6%+30.0%+17.6%+147%33.9%0.26−51.6%—$10B—
WERN TruckingWerner Enterprises, Inc.0/5 short0/3 long−15.8%−36.1%−11.5%−3.1%+4.6%−16.8%−33.0%+56.5%31.7%-0.09−51.1%—$1.8B—
BA Aerospace & DefenseThe Boeing Company0/5 short0/3 long−5.1%−10.1%−18.9%−17.7%−13.4%+3.6%−11.9%+48.3%36.8%0.11−77.9%—$148B—
HUBG Integrated Freight & LogisticsHub Group, Inc.0/5 short0/3 long−17.4%−47.7%−39.3%−37.5%−25.5%−27.9%−29.5%+36.0%35.9%-0.01−50.6%—$1.6B—
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How did FDX do year by year?

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

InvestmentYears ahead of FDX20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
FDX This pageFedEx Corporation—+5.1%+13.5%+49.1%−31.6%+0.7%+74.3%−4.8%−34.7%+35.2%+26.1%−13.7%+21.4%+57.6%+10.5%−9.7%+12.1%+31.1%−27.7%−17.6%+5.4%+5.3%+46.4%+24.9%+4.8%+61.0%−2.4%−8.2%+46.0%+37.2%
Rank among alternativesTop quarter in 6 of 298 of 205 of 205 of 2015 of 1917 of 183 of 1817 of 1816 of 188 of 1710 of 177 of 179 of 175 of 178 of 1712 of 1714 of 176 of 1714 of 1714 of 179 of 1710 of 168 of 168 of 1510 of 143 of 149 of 149 of 132 of 135 of 11
SPY S&P 500State Street SPDR S&P 500 ETF14 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%
EXPD Expeditors International of Washington, Inc.16 of 29+36.2%−11.9%+23.8%−21.7%+42.5%+23.5%+16.2%+6.5%+22.9%+19.3%+2.6%+2.2%+13.5%−2.0%−24.1%+58.5%+5.7%−24.9%+11.0%+20.6%+21.4%+49.0%+15.9%+15.1%+6.5%+22.9%+109%+9.5%+67.7%
NSC Norfolk Southern Corporation15 of 29+25.7%+1.6%−1.6%−15.6%+27.3%+24.8%+32.4%+5.2%+36.8%+31.5%−20.3%+20.8%+54.2%−12.7%+18.8%+22.8%+15.2%−4.8%+2.2%+13.8%+25.6%+55.3%+20.2%+10.4%+39.5%−31.8%−33.5%+6.6%+6.6%
XPO XPO Logistics, Inc.14 of 22+3.6%+49.7%+163%−27.7%+11.6%+49.5%+39.7%−37.7%+112%+58.4%−33.4%+55.5%+51.2%+40.8%+20.6%+100%+11.3%−6.5%−3.4%+441%−54.6%+8.8%———————
AMZN Amazon.com, Inc.17 of 28+5.2%+44.4%+80.9%−49.6%+2.4%+76.3%+23.0%+28.4%+56.0%+10.9%+118%−22.2%+59.0%+45.0%−3.9%+33.7%+163%−44.7%+135%−16.5%+6.8%−16.0%+178%+74.6%−30.5%−79.6%+42.2%+968%—
ARCB ArcBest Corp10 of 29−20.0%−22.1%+72.4%−41.3%+182%+56.5%−18.6%−3.4%+30.9%+31.5%−53.5%+38.3%+256%−50.0%−29.4%−6.3%+0.1%+39.8%−38.0%−16.4%−1.2%+44.9%+22.5%−9.8%+57.4%+52.5%+123%−40.1%+123%
ODFL Old Dominion Freight Line, Inc.18 of 29−10.5%−12.5%+43.5%−20.5%+84.2%+54.8%+54.3%−5.8%+53.9%+45.3%−23.9%+46.5%+54.6%+26.9%+26.6%+56.2%+7.9%+23.5%−4.4%−10.5%+16.1%+53.7%+78.3%+125%+33.5%−11.6%−5.5%−25.4%+43.5%
SAIA Saia, Inc.14 of 23−28.3%+4.0%+109%−37.8%+86.4%+94.2%+66.8%−21.1%+60.3%+98.4%−59.8%+72.7%+108%+85.2%−24.8%+11.9%+36.5%−18.4%−42.7%+9.2%−9.0%+32.9%+77.3%——————
TFII TFI International Inc.9 of 20−21.9%+0.5%+37.2%−9.5%+120%+56.2%+33.5%+6.7%−2.3%+55.8%−30.8%+10.7%+21.1%+59.6%+5.2%+65.0%+150%−61.4%−19.5%−21.7%—————————
JBHT J.B. Hunt Transport Services, Inc.16 of 29+15.2%−13.8%+15.6%−13.9%+50.6%+18.1%+26.8%−18.4%+19.6%+33.8%−12.0%+10.1%+30.2%+34.2%+11.8%+28.2%+24.8%−3.4%+34.4%−6.9%+2.1%+66.5%+84.3%+26.4%+38.0%+21.6%−38.9%+23.8%+35.7%
CHRW C.H. Robinson Worldwide, Inc.15 of 28+59.0%+22.9%−3.1%−13.1%+17.2%+23.0%−4.7%−3.6%+24.6%+21.0%−15.1%+31.3%−5.4%−7.4%−11.5%+39.4%+8.8%+3.5%+34.3%+11.8%+34.9%+48.0%+22.6%+8.7%−7.2%+59.2%+54.7%+17.1%—
RXO RXO, Inc.0 of 3−47.0%+2.5%+35.2%——————————————————————————
CNI Canadian National Railway Company17 of 29−0.1%−17.5%+7.8%−1.4%+13.7%+23.6%+24.3%−8.6%+24.4%+22.8%−17.6%+22.6%+27.3%+17.9%+20.3%+24.4%+51.4%−20.1%+10.9%+9.2%+32.6%+47.4%+55.3%−12.3%+65.5%+14.8%+4.3%+11.6%+26.8%
UPS United Parcel Service, Inc.10 of 26−15.9%−15.9%−6.0%−16.2%+30.0%+48.6%+24.2%−15.5%+7.1%+22.7%−10.9%+8.7%+46.5%+3.9%+3.8%+30.3%+7.8%−19.8%−3.5%+1.8%−10.5%+16.4%+19.9%+17.3%−6.0%−13.8%———
GXO GXO Logistics, Inc.1 of 4+21.0%−28.9%+43.3%−53.0%—————————————————————————
SNDR Schneider National, Inc.4 of 8−8.0%+16.8%+10.2%−11.8%+31.5%+4.9%+18.2%−34.0%—————————————————————
KNX Knight-Swift Transportation Holdings Inc.12 of 29+0.1%−6.9%+11.1%−13.2%+46.8%+17.6%+44.0%−42.3%+33.4%+38.0%−27.3%+85.4%+27.2%−5.1%−16.4%−0.3%+21.1%+9.7%−12.5%−17.3%+25.9%+45.1%+22.1%+11.8%+120%+12.1%−35.7%+44.4%+45.8%
WERN Werner Enterprises, Inc.12 of 29−14.9%−14.2%+6.6%−14.4%+22.7%+9.0%+39.6%−22.8%+44.6%+16.4%−24.3%+27.1%+15.2%−3.0%+10.0%+24.3%+23.3%+15.5%−1.6%−10.5%−12.3%+16.9%+13.8%+18.6%+43.7%+21.7%−19.9%+8.5%+13.7%
BA The Boeing Company15 of 29+22.7%−32.1%+36.8%−5.4%−5.9%−33.9%+3.3%+11.5%+94.7%+11.3%+14.1%−2.5%+84.7%+5.2%+15.2%+23.6%+31.8%−50.1%−0.1%+28.4%+37.9%+24.9%+30.4%−13.4%−40.4%+61.2%+28.7%−32.5%−7.1%
HUBG Hub Group, Inc.14 of 29−3.1%−2.0%+15.7%−5.7%+47.8%+11.1%+38.4%−22.6%+9.5%+32.7%−13.4%−4.5%+18.7%+3.6%−7.8%+31.2%+0.9%−0.1%−3.6%+55.9%+35.3%+143%+349%−54.4%+16.5%−54.8%+3.0%−34.8%+11.2%
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Risk and diversification

How FDX 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 FDX's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents FDX's five deepest drawdowns since it began trading in 1986, 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 FDX fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringFDX fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−71.3%−51.1%Feb 2007Mar 20092.1 yearsSep 20134.5 years
Late-2018 sell-off−66.0%−11.2%Jan 2018Mar 20202.2 yearsOct 20207 months
No named crash−60.3%—Oct 1987Nov 19903.1 yearsJan 19943.2 years
2022 bear market−53.7%−11.2%May 2021Sep 202216 monthsJun 202421 months
No named crash−49.7%+0.6%May 1999Mar 200010 monthsDec 200121 months

How did FDX do in stock market crashes?

This section measures how far FDX, 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 FDX.

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
FDX This pageFedEx Corporation—−5.3%−45.3%−44.9%−38.1%−8.0%−27.0%−29.7%−3.3%−67.8%−30.0%
SPY S&P 500State Street SPDR S&P 500 ETF9 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
EXPD Expeditors International of Washington, Inc.9 of 10−3.1%−32.9%−27.9%−17.9%−5.1%−17.7%−22.3%−1.0%−54.4%−33.7%
NSC Norfolk Southern Corporation8 of 10−4.0%−28.4%−43.6%−23.8%−5.6%−31.7%−21.1%−2.1%−62.9%−39.9%
XPO XPO Logistics, Inc.1 of 9−9.2%−46.0%−59.0%−61.2%−9.4%−52.2%−58.3%−3.4%−52.8%—
AMZN Amazon.com, Inc.7 of 10−3.4%−39.6%−22.7%−33.2%−7.1%−30.6%−20.7%−2.9%−65.3%−91.8%
ARCB ArcBest Corp4 of 10−8.0%−42.0%−33.2%−33.6%−10.9%−47.3%−41.6%−3.8%−63.6%−40.2%
ODFL Old Dominion Freight Line, Inc.5 of 10−6.0%−34.5%−28.6%−28.4%−10.3%−31.0%−26.2%−3.6%−50.7%−33.3%
SAIA Saia, Inc.4 of 9−6.6%−46.3%−36.9%−32.7%−9.2%−54.5%−43.1%−1.7%−64.5%—
TFII TFI International Inc.4 of 9−5.7%−34.4%−52.5%−32.9%−4.1%−30.9%−39.4%−2.5%−81.3%—
JBHT J.B. Hunt Transport Services, Inc.8 of 10−5.5%−28.8%−31.5%−26.6%−3.0%−18.8%−24.8%−2.4%−53.1%−50.9%
CHRW C.H. Robinson Worldwide, Inc.10 of 10−2.0%−20.9%−19.1%−18.8%−3.5%−16.9%−22.5%−2.2%−42.3%−29.3%
RXO RXO, Inc.0 of 1−5.1%—————————
CNI Canadian National Railway Company9 of 10−1.3%−21.0%−27.3%−22.1%−5.1%−23.9%−19.3%−0.5%−46.7%−30.6%
UPS United Parcel Service, Inc.9 of 10−1.5%−29.8%−18.5%−23.7%−8.7%−16.4%−16.4%−1.6%−47.9%−26.5%
GXO GXO Logistics, Inc.0 of 2−11.4%−62.5%————————
SNDR Schneider National, Inc.3 of 5−6.0%−24.8%−24.0%−29.9%−8.4%—————
KNX Knight-Swift Transportation Holdings Inc.8 of 10−8.7%−28.3%−27.9%−31.8%−2.8%−25.1%−21.6%−2.0%−40.8%−36.7%
WERN Werner Enterprises, Inc.7 of 10−6.2%−23.6%−23.6%−18.5%−9.1%−25.6%−18.9%−2.1%−46.1%−45.1%
BA The Boeing Company5 of 10−2.9%−48.7%−71.9%−24.7%−5.7%−26.8%−20.5%−1.8%−70.0%−57.1%
HUBG Hub Group, Inc.4 of 10−6.3%−28.8%−33.1%−28.9%−8.6%−32.1%−31.1%−4.8%−62.1%−74.9%
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How closely does FDX 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 FDX 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 FDX's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
FDX This pageFedEx Corporation116%166%0.701.29
ODFL Old Dominion Freight Line, Inc.127%107%1.191.10
SAIA Saia, Inc.169%162%1.041.73
XPO XPO Logistics, Inc.190%185%1.032.03
AMZN Amazon.com, Inc.134%139%0.961.31
ARCB ArcBest Corp155%166%0.941.68
TFII TFI International Inc.150%159%0.941.58
EXPD Expeditors International of Washington, Inc.118%135%0.870.95
NSC Norfolk Southern Corporation123%147%0.841.30
CHRW C.H. Robinson Worldwide, Inc.87%106%0.830.84
JBHT J.B. Hunt Transport Services, Inc.109%137%0.791.18
CNI Canadian National Railway Company80%105%0.770.89
KNX Knight-Swift Transportation Holdings Inc.111%156%0.721.25
WERN Werner Enterprises, Inc.99%151%0.661.06
BA The Boeing Company93%152%0.611.42
HUBG Hub Group, Inc.100%167%0.601.13
UPS United Parcel Service, Inc.85%149%0.571.08
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What diversifies FDX?

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

ETFs

InvestmentCorrelation5Y returnSharpe20222019201820152011200820072000199980/20 mix volatility80/20 mix annual return
FDX FedEx Corporation (this page)1.00+78.3%0.52−31.6%−4.8%−34.7%−13.7%−9.7%−27.7%−17.6%−2.4%−8.2%32.3%+12.2%
SMH TechnologyVanEck Semiconductor ETF0.48+304%0.94−33.5%+64.5%−9.1%−0.3%+6.8%−44.7%+6.0%——29.8%+17.9%
XLE EnergyState Street Energy Select Sector SPDR ETF0.41+178%0.94+64.4%+11.7%−18.2%−21.5%+2.8%−39.0%+36.8%+24.4%+18.1%28.3%+15.2%
GLD CommoditiesSPDR Gold Shares0.27+120%0.93−0.8%+17.9%−1.9%−10.7%+9.6%+4.9%+30.4%——27.0%+14.4%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.43+130%0.91−10.4%+25.9%−0.9%——————27.9%+14.8%
AMLP EnergyAlerian MLP ETF0.43+114%0.90+25.5%+6.0%−12.6%−25.7%+10.2%————27.6%+14.2%
EUFN InternationaliShares MSCI Europe Financials ETF0.44+130%0.88−8.8%+20.7%−23.1%−4.7%−26.6%————27.8%+14.7%
DBA AlternativesInvesco DB Agriculture Fund0.12+66.7%0.81+2.5%−0.7%−8.7%−17.2%−10.7%−19.1%———26.2%+12.9%
IHE Broad MarketiShares U.S. Pharmaceuticals ETF0.46+83.2%0.81−4.9%+15.5%−7.8%+8.8%+20.9%−14.8%+2.4%——27.4%+13.0%

Stocks

InvestmentCorrelation5Y returnSharpe20222019201820152011200820072000199980/20 mix volatility80/20 mix annual return
FDX FedEx Corporation (this page)1.00+78.3%0.52−31.6%−4.8%−34.7%−13.7%−9.7%−27.7%−17.6%−2.4%−8.2%32.3%+12.2%
CAH Medical - DistributionCardinal Health, Inc.0.20+471%1.54+54.1%+18.0%−24.5%+12.6%+8.1%−39.6%−9.8%+108%−36.8%27.4%+18.2%
CLS Hardware, Equipment & PartsCelestica Inc.0.24+2,780%1.43+1.3%−5.7%−16.3%−6.0%−24.4%−20.5%−25.7%−2.3%+350%30.8%+30.6%
MCK Medical - DistributionMcKesson Corporation0.30+397%1.41+51.8%+26.7%−28.4%−4.5%+11.8%−40.4%+29.7%+61.2%−71.3%27.8%+17.5%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.31+1,452%1.41+17.0%+15.1%+0.8%+67.7%−17.0%−15.2%+2.1%−71.1%−58.7%29.8%+26.7%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.29+660%1.39+86.6%+6.0%−8.2%+17.4%—————28.4%+20.1%
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Common questions

What was FDX's worst drawdown?

FDX's deepest decline since it began trading in 1986 was 71.3%, from February 2007 to March 2009. It took about four years from the low to climb back to its old high.

What were FDX's best and worst years?

Over 29 full calendar years, FDX's best year was 2020, when it returned 74.3%. Its worst was 2018, with a return of -34.7%.

Is there a better investment than FDX?

Among FDX's popular alternatives, EXPD and NSC were ahead of FDX in most short and long periods. Looking beyond its popular alternatives, SFL (marine shipping) earned more than FDX with less volatility over the past 5 years: 18.5% a year at 30.4% volatility, against 12.3% a year at 32.8%.

Is FDX more volatile than the S&P 500?

Yes. FDX's volatility over the past 5 years was 32.8%, about twice the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, FDX's return lands within 32.8% 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 FDX's Sharpe ratio?

FDX's Sharpe ratio over the past 5 years was 0.52, against 0.78 for the S&P 500, so FDX 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 FDX with the S&P 500?

Over the past 5 years, FDX's monthly returns had a correlation of 0.63 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 FDX instead: the lower it is, the more that option would diversify a FDX holding.

What are the best alternatives to FDX?

Of the 19 popular alternatives we compared, two outperformed FDX in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: EXPD and NSC.

Did FDX outperform the S&P 500?

FDX finished ahead of the S&P 500 (SPY) in 15 of 29 full calendar years. In 2025, it returned +5.1%, against +17.7% for the index.

How did FDX do in stock market crashes?

FDX fell less than the S&P 500 (SPY) in one of the ten major crashes it has traded through, and further in nine. The clearest case was the 2022 bear market, when FDX fell 45.3% and the S&P 500 fell 24.5%.

What diversifies FDX?

These had a low correlation with FDX over the past 5 years and still earned a positive 5-year return: among large ETFs, SMH (correlation 0.48), XLE (correlation 0.41) and GLD (correlation 0.27); among large stocks, CAH (correlation 0.20), CLS (correlation 0.24) and MCK (correlation 0.30). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to FDX

Other stocks and ETFs