Relative Intelligence · Packaged Foods
How Mondelez International (MDLZ) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on MDLZ alone. It places MDLZ (Mondelez International, Inc.) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where MDLZ stands in the market, and of the alternatives worth a closer look.
Period covered: MDLZ's full trading record, from June 2001 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 22, 2026.
Data as of October 22, 2026. Full tables and charts read best on a larger screen.
This page answers the following questions about MDLZ
Key findings
Not AI-generatedThese key findings are generated by our proprietary relative intelligence engine, directly from the data on this page.
- Right nowMDLZ has outpaced the market, rising 18.3% over the past 6 months against 8.0% for the S&P 500 and 7.8% for the Nasdaq 100. After a 29.2% loss from May 2023 to January 2026, MDLZ has bounced 29.9% off the low. At a glance ↓
- Stock or market?Not a move of its own: the packaged foods ETF XLP (State Street Consumer Staples Select Sector SPDR ETF) rose 7.3% over the past 3 months, with SJM (J. M. Smucker, up 14.1%) and JJSF (J&J Snack Foods, up 10.8%), against 2.5% for the S&P 500. Last month cut against the tape: MDLZ rose 7.7% while the S&P 500 fell 1.2%.
- Past 1 to 3 yearsOver the past year, MDLZ rose 8.9% against 15.6% for the S&P 500 and 16.9% for the Nasdaq 100. The same gap shows up over 3 years (11.4% against 88.4%). The last two calendar years both went the same way: MDLZ fell 7.0% in 2025, against 15.6% for the S&P 500 and 16.9% for the Nasdaq 100. By year ↓
- Long termMDLZ turned $10,000 into $19,500 over the past decade, against $41,600 in the S&P 500. That said, over the past decade, only HSY (Hershey) of its packaged food peers outpaced MDLZ. Growth of $10,000 ↓
- In a crashMDLZ fell less than the S&P 500 in five of six sell-offs, but the 2015 China and oil sell-off broke the pattern: it fell 22.3%, more than the S&P 500's 12.8%. Crash tests ↓
- DiversificationMDLZ is some diversification, but not a hedge: a correlation of 0.31 with the S&P 500 over 5 years and 0.29 with the total US market, less closely than 68% of stocks worth at least $300 million. Over 10 years, MDLZ's beta versus the S&P 500 was 0.52: 45% of the S&P 500's gains in rising months and 55% of its losses in falling ones. Market capture ↓
- Better options
- Popular alternatives
- KO (Coca-Cola) earned more than MDLZ with less volatility over the past 5 years: 15.2% a year at 16.8% volatility, against 4.3% a year at 20.3%.
- Nearby categories and themes
- CHSCL (CHS, agricultural products) matched MDLZ's return over the past 5 years (4.2% a year against 4.3%) with 53% less volatility.
- Whole market
- 454 of the 3,641 stocks and funds worth at least $500 million earned more than MDLZ with less volatility over the past 5 years, among them VTI (Vanguard Morningstar Total Stock Market ETF), VOO (Vanguard S&P 500 ETF) and BRK-A (Berkshire Hathaway).
How much would $10,000 in MDLZ have grown?
This chart tracks a hypothetical $10,000 investment in MDLZ over the past 25 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of MDLZ over the same span and MDLZ'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.
- $10,000 invested in MDLZ at the end of September 2001 would have grown to $118,239 by September 2026, more than the $114,557 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of MDLZ, and MNST finished highest, at $22,832,107.
Choose a period
From the end of September 2001 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. 562 of the 1,326 stocks and funds worth at least $500 million that traded the whole period ended ahead of MDLZ; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- MNST$23M+228,221% total · +36.3% a year
- COST$384,945+3,749% total · +15.7% a year
- RSG$310,830+3,008% total · +14.7% a year
- TD$253,189+2,432% total · +13.8% a year
- CCEP$222,079+2,121% total · +13.2% a year
- MDLZ$118,239+1,082% total · +10.4% a year
- SPY (S&P 500)$114,557+1,046% total · +10.2% a year
- WMT$98,686+887% total · +9.6% a year
- SJM$97,223+872% total · +9.5% a year
- KO$75,045+650% total · +8.4% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 2,252 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of MDLZ; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- WMT$23,813+138% total · +18.9% a year
- CCEP$21,567+116% total · +16.6% a year
- COST$21,378+114% total · +16.4% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- KO$18,994+89.9% total · +13.7% a year
- MNST$18,739+87.4% total · +13.4% a year
- ADM$15,236+52.4% total · +8.8% a year
- BG$15,040+50.4% total · +8.5% a year
- SJM$11,786+17.9% total · +3.3% a year
- MDLZ$11,375+13.7% total · +2.6% a year
MDLZ 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.
- MDLZ's deepest decline since it began trading in 2001 was 38.2%, from September 2008 to March 2009. It took 18 months from the low to climb back to its old high.
- Over 24 full calendar years, MDLZ's best was 2012, when it returned 121%, and its worst was 2005, when it lost 17.3%. It lost money in eight of those years.
- MDLZ is 8.0% below its all-time high.
The company
- Market value
- $83B
- Industry
- Food Confectioners
- Price history from
- June 2001
Returns
- Past 1 year
- +8.9%total return
- Past 3 years
- +11.4%+3.7% a year
- Past 5 years
- +23.3%+4.3% a year
- Past 10 years
- +94.6%+6.9% a year
- Best calendar year
- +121%2012
- Worst calendar year
- −17.3%2005
- Losing years
- 8 of 24full calendar years
Risk
- Volatility
- 20.3%typical yearly swing, 5 years
- Sharpe ratio
- 0.31return per unit of risk, 5 years
- Worst decline ever
- −38.2%Sep 2008 to Mar 2009
- From its all-time high
- −8.0%below the peak
MDLZ against the whole market
Where MDLZ ranks among every stock and fund, and what across the market has done better.
How does MDLZ rank among all stocks?
This section ranks MDLZ 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 MDLZ stacks up against its peers, these rankings show where it stands in the market as a whole.
- MDLZ's worst decline of the past 10 years ranks in the top 1% of the 2,184 stocks worth at least $300 million, where the top fell the least.
Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.
| Measure | MDLZ | Rank | Standing |
|---|---|---|---|
| 1-year return | +8.9% | 1,666 of 3,282 | bottom 50% |
| 3-year return | +11.4% | 2,163 of 3,016 | bottom 29% |
| 5-year return | +23.3% | 1,436 of 2,897 | top 50% |
| 10-year return | +94.6% | 1,360 of 2,201 | bottom 39% |
| Volatility, 5 years | 20.3% | 97 of 2,897 | top 3% |
| Sharpe ratio, 5 years | 0.31 | 1,531 of 2,897 | bottom 48% |
| Worst decline, past 10 years | −29.8% | 17 of 2,184 | top 1% |
What has beaten MDLZ 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). MDLZ sits where the dashed lines cross. Anything in the green box above and to the left earned more than MDLZ 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.
- 27 stocks and 427 ETFs worth at least $500 million sit in the green region: each earned more than MDLZ over the past 5 years with smaller price swings. That is 12% of the 3,641 screened.
- Among those with at least half MDLZ's swings, LVHI has the best return for its risk: 16.9% a year at 11.1% volatility, 45% less than MDLZ's 20.3%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.31 for MDLZ. DXJ earned the most, 26.6% a year, while still swinging less than MDLZ (19.1% against 20.3%).
- Among MDLZ's popular alternatives, KO is in the region. KO earned 15.2% a year against 4.3% a year for MDLZ, at 16.8% volatility, 17% less than MDLZ's 20.3%.
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 MDLZ; faint dots are 92 more of the 454 in the green region (the strongest, one per fund family). 3,641 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.
- Popular alternatives
- Same and neighboring categories, and shared themes
- The whole market
- Others in the green region
Is there a better investment than MDLZ?
Investments that beat MDLZ over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among MDLZ's popular alternatives, KO earned more than MDLZ with less volatility over the past 5 years: 15.2% a year at 16.8% volatility, against 4.3% a year at 20.3%.
- Looking beyond its popular alternatives, CHSCL (agricultural products) matched MDLZ's return over the past 5 years (4.2% a year against 4.3%) with 53% less volatility.
- Across the whole market, 454 of the 3,641 stocks and funds worth at least $500 million earned more than MDLZ with less volatility over the past 5 years, among them VTI, VOO and BRK-A.
How this works
The table below lists investments that beat MDLZ 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 MDLZ'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 MDLZ 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 MDLZ'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× MDLZ's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than MDLZ's.
| Investment | Why it is better | Past 5 years | Downside | Long run | Fit | ||||
|---|---|---|---|---|---|---|---|---|---|
| Annual return?higher is better | Volatility?lower is calmer | Sharpe?return per unit of risk | Worst decline?past 10 years | 10Y returntotal | Corr. with MDLZ?lower diversifies more | Expenseper year | |||
| MDLZMondelez International, Inc. · this page | +4.3% | 20.3% | 0.31 | −29.8% | +94.6% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.5% | 17.2% | 0.78 | −33.7% | +316% | 0.31 | 0.09% | ||
| Popular alternativesbest 3 shownThe investments people most often weigh against MDLZ. 3 of 20 passed at least one test. | |||||||||
 KOThe Coca-Cola Company · Nonalcoholic Beverages | Higher return, lower volatilityHigher return in most periods | +15.2% | 16.8% | 0.93 | −37.0% | +205% | 0.74 | — | |
 WMTWalmart Inc. · Discount Retail | Higher return in most periods | +21.1% | 22.6% | 0.97 | −25.7% | +521% | 0.20 | — | |
SJMThe J. M. Smucker Company · Packaged Foods | Higher return in most periods | +5.2% | 25.1% | 0.33 | −38.1% | +41.0% | 0.43 | — | |
| Same and neighboring categories, and shared themesbest 5 shownEverything else in Packaged Foods and Food & Beverages and the categories next to it (Agricultural Products, Discount Retail, Food Distribution, Nonalcoholic Beverages), plus MDLZ's specific themes. 5 of 49 passed at least one test. | |||||||||
 MNSTMonster Beverage Corporation · Nonalcoholic Beverages | Higher return in most periods | +17.4% | 24.9% | 0.77 | −30.4% | +278% | 0.46 | — | |
 CCEPCoca-Cola Europacific Partners PLC · Food & Beverages | Higher return in most periods | +20.4% | 23.3% | 0.92 | −48.8% | +294% | 0.65 | — | |
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages | Higher return in most periods | +22.4% | 24.7% | 0.95 | −55.1% | +119% | 0.58 | — | |
 KDPKeurig Dr Pepper Inc. · Nonalcoholic Beverages | Higher return in most periods | +3.0% | 22.1% | 0.25 | −36.9% | +282% | 0.40 | — | |
CHSCLCHS Inc. · Agricultural Products | Similar return, lower volatility | +4.2% | 9.6% | 0.48 | −29.1% | +65.7% | 0.07 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 813 of 3,578 passed at least one test. | |||||||||
CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +8.2% | 13.3% | 0.66 | −23.8% | +104% | 0.36 | — | |
 BRK-ABerkshire Hathaway Inc. · Insurance | Higher return, lower volatilityHigher return in most periods | +13.5% | 17.2% | 0.83 | −30.4% | +281% | 0.43 | — | |
 JNJJohnson & Johnson · Pharmaceuticals | Higher return, lower volatilityHigher return in most periods | +13.5% | 18.0% | 0.80 | −27.4% | +209% | 0.34 | — | |
 PGThe Procter & Gamble Company · Household & Personal Products | Higher return, lower volatilityHigher return in most periods | +5.8% | 18.4% | 0.40 | −23.8% | +156% | 0.58 | — | |
BALTInnovator Defined Wealth Shield ETF · US Equity Buffer | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst decline | +6.2% | 3.3% | 1.84 | −4.9% | — | 0.18 | 0.69% | |
 SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bills | On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline | +3.8% | 0.3% | 13.25 | −0.3% | — | -0.07 | 0.09% | |
 MRKMerck & Co., Inc. · Pharmaceuticals | Higher return in most periodsSmaller losses in recent crashes | +16.1% | 24.8% | 0.73 | −43.4% | +245% | 0.23 | — | |
 TDThe Toronto-Dominion Bank · Banks | Higher return, similar volatilityHigher return in most periods | +16.5% | 20.0% | 0.87 | −42.0% | +319% | 0.32 | — | |
What these numbers mean for MDLZ
- Annual return
- MDLZ returned 4.3% 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 $12,300. 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
- MDLZ's volatility over the past 5 years was 20.3%, 1.2 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MDLZ's return lands within 20.3% 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
- MDLZ's Sharpe ratio over the past 5 years was 0.31, against 0.78 for the S&P 500, so MDLZ 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
- MDLZ's worst fall from a peak to a low over the past 10 years was 29.8%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 29.8% fall takes a 42.3% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, MDLZ's monthly returns had a correlation of 0.31 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against MDLZ instead: the lower it is, the more that option would diversify a MDLZ holding. Guide: Correlation and diversification →
Show all 454 stocks and funds worth at least $500 million that earned more than MDLZ with less volatility
Out of 3,641 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.
| # | Investment | Found in | Annual return | Volatility | Sharpe | Worst decline | 10Y return | Corr. with MDLZ | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications | Whole market | +8.2% | 13.3% | 0.66 | −23.8% | +104% | 0.36 | — |
| 2 | BRK-ABerkshire Hathaway Inc. · Insurance | Whole market | +13.5% | 17.2% | 0.83 | −30.4% | +281% | 0.43 | — |
| 3 | JNJJohnson & Johnson · Pharmaceuticals | Whole market | +13.5% | 18.0% | 0.80 | −27.4% | +209% | 0.34 | — |
| 4 | PGThe Procter & Gamble Company · Household & Personal Products | Whole market | +5.8% | 18.4% | 0.40 | −23.8% | +156% | 0.58 | — |
| 5 | BALTInnovator Defined Wealth Shield ETF · US Equity Buffer | Whole market | +6.2% | 3.3% | 1.84 | −4.9% | — | 0.18 | 0.69% |
| 6 |  RSGRepublic Services, Inc. · Waste Management | Whole market | +14.1% | 18.6% | 0.80 | −34.0% | +461% | 0.35 | — |
| 7 | FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Bank Loans | Whole market | +6.0% | 2.3% | 2.55 | −20.9% | +58.7% | 0.24 | 0.60% |
| 8 | SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Broad Commodities | Whole market | +21.1% | 18.4% | 1.14 | −45.7% | — | 0.26 | 0.80% |
| 9 |  XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity | Whole market | +8.4% | 15.3% | 0.60 | −28.4% | +208% | 0.40 | 0.08% |
| 10 | HDViShares Core High Dividend ETF · High Dividend Yield | Whole market | +13.3% | 13.0% | 1.03 | −37.0% | +177% | 0.63 | 0.08% |
| 11 | COWZPacer US Cash Cows 100 ETF · US Large-Cap Value | Whole market | +11.6% | 17.7% | 0.71 | −38.7% | — | 0.36 | 0.49% |
| 12 |  DFACDimensional - US Core Equity 2 ETF · US Total Market | Whole market | +11.3% | 17.0% | 0.72 | −23.1% | — | 0.32 | 0.21% |
| 13 | FJANFT Vest U.S. Equity Buffer ETF - January · US Equity Buffer | Whole market | +11.0% | 10.5% | 1.04 | −13.6% | — | 0.29 | 0.85% |
| 14 | POCTInnovator U.S. Equity Power Buffer ETF · Moderate Buffer | Whole market | +9.9% | 8.0% | 1.22 | −18.8% | — | 0.27 | 0.79% |
| 15 | VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value | Whole market | +16.2% | 18.4% | 0.91 | −39.5% | +286% | 0.34 | 0.15% |
| 16 | KOThe Coca-Cola Company · Nonalcoholic Beverages | Popular alternative | +15.2% | 16.8% | 0.93 | −37.0% | +205% | 0.74 | — |
| 17 |  JEPIJPMorgan Equity Premium Income ETF · Covered Call Income | Whole market | +7.3% | 11.0% | 0.70 | −13.7% | — | 0.53 | 0.35% |
| 18 | PDBCInvesco Optimum Yield Diversified Commodity Strategy No K-1 ETF · Broad Commodities | Whole market | +12.0% | 19.3% | 0.69 | −40.7% | +152% | 0.24 | 0.74% |
| 19 | DOCTFT Vest U.S. Equity Deep Buffer ETF - October · Deep Buffer | Whole market | +8.2% | 7.4% | 1.10 | −9.9% | — | 0.21 | 0.85% |
| 20 | AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Whole market | +13.9% | 16.9% | 0.86 | −19.5% | — | 0.34 | 0.15% |
| 21 | HYGHiShares Interest Rate Hedged High Yield Bond ETF · High Yield Bonds | Whole market | +6.6% | 7.1% | 0.95 | −23.9% | +73.7% | 0.25 | 1.12% |
| 22 |  RYRoyal Bank of Canada · Banks | Whole market | +17.5% | 18.2% | 0.98 | −40.0% | +361% | 0.22 | — |
| 23 | BUFRFT Vest Laddered Buffer ETF · Buffered Equity | Whole market | +9.8% | 10.5% | 0.95 | −13.7% | — | 0.33 | 0.10% |
| 24 | BKLNInvesco Senior Loan ETF · Bank Loans | Whole market | +5.3% | 4.5% | 1.19 | −24.1% | +50.5% | 0.21 | 0.67% |
| 25 | XLPState Street Consumer Staples Select Sector SPDR ETF · Consumer Staples | Whole market | +7.6% | 13.8% | 0.60 | −24.5% | +124% | 0.74 | 0.08% |
| 26 | DSTLDistillate U.S. Fundamental Stability & Value ETF · US Large-Cap Value | Whole market | +11.7% | 16.2% | 0.77 | −33.1% | — | 0.48 | 0.39% |
| 27 | IHEiShares U.S. Pharmaceuticals ETF · Pharmaceuticals | Whole market | +12.9% | 16.8% | 0.81 | −29.6% | +157% | 0.31 | 0.37% |
| 28 | JAVAJPMorgan Active Value ETF · US Large-Cap Value | Whole market | +11.4% | 14.5% | 0.82 | −16.5% | — | — | 0.44% |
| 29 | QYLDGlobal X - Nasdaq 100 Covered Call ETF · Covered Call Income | Whole market | +8.2% | 15.0% | 0.60 | −24.7% | +151% | 0.15 | 0.60% |
| 30 | DBMFiMGP DBi Managed Futures Strategy ETF · Managed Futures | Whole market | +9.5% | 12.4% | 0.80 | −20.4% | — | -0.21 | 0.85% |
| 31 | FTXHFirst Trust Nasdaq Pharmaceuticals ETF · Pharmaceuticals | Whole market | +12.3% | 16.9% | 0.77 | −32.1% | +155% | 0.29 | 0.60% |
| 32 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +24.0% | 18.8% | 1.25 | −75.2% | +337% | 0.27 | — |
| 33 | TSPAT. Rowe Price U.S. Equity Research ETF · US Large-Cap Equity | Whole market | +12.8% | 17.2% | 0.79 | −24.7% | — | 0.29 | 0.34% |
| 34 | FTLSFirst Trust Long/Short Equity ETF · Long-Short Equity | Whole market | +10.1% | 10.5% | 0.97 | −20.6% | +155% | 0.29 | 0.95% |
| 35 | AORiShares Core 60/40 Balanced Allocation ETF · Balanced Allocation | Whole market | +6.4% | 10.7% | 0.64 | −23.0% | +117% | 0.41 | 0.20% |
| 36 | RSPHInvesco S&P 500 Equal Weight Health Care ETF · Health Care Equity | Whole market | +6.1% | 16.8% | 0.44 | −30.4% | +181% | 0.41 | 0.40% |
| 37 | PJPInvesco Pharmaceuticals ETF · Pharmaceuticals | Whole market | +11.3% | 16.6% | 0.73 | −34.0% | +139% | 0.21 | 0.58% |
| 38 | ACIOAptus Collared Income Opportunity ETF · Hedged Equity | Whole market | +9.1% | 11.2% | 0.84 | −14.2% | — | 0.32 | 0.79% |
| 39 | SCHYSchwab International Dividend Equity ETF · International Dividend Equity | Whole market | +9.5% | 13.3% | 0.76 | −24.0% | — | 0.64 | 0.08% |
| 40 | FJUNFT Vest U.S. Equity Buffer ETF - June · S&P 500 Buffer | Whole market | +10.4% | 10.6% | 0.99 | −13.3% | — | 0.31 | 0.85% |
| 41 | QDPLPacer Metaurus US Large Cap Dividend Multiplier 400 ETF · US Dividend Equity | Whole market | +11.6% | 15.0% | 0.81 | −22.6% | — | 0.30 | 0.60% |
| 42 | FFLCFidelity Fundamental Large Cap Core ETF · Active Core Equity | Whole market | +15.5% | 16.8% | 0.94 | −19.7% | — | 0.33 | 0.38% |
| 43 | INFLHorizon Kinetics Inflation Beneficiaries ETF · Global Equity | Whole market | +11.6% | 17.8% | 0.71 | −21.3% | — | 0.47 | 0.85% |
| 44 | TDVGT. Rowe Price Dividend Growth ETF · Dividend Growth | Whole market | +9.5% | 13.8% | 0.73 | −19.2% | — | 0.48 | 0.50% |
| 45 | FTQIFirst Trust Nasdaq BuyWrite Income ETF · Nasdaq Options Income | Whole market | +11.4% | 14.8% | 0.81 | −19.5% | +118% | 0.15 | 0.75% |
| 46 | PJUNInnovator U.S. Equity Power Buffer ETF - June · S&P 500 Buffer | Whole market | +6.8% | 8.3% | 0.83 | −16.3% | — | 0.35 | 0.79% |
| 47 | FLSPFranklin Systematic Style Premia ETF · Liquid Alternatives | Whole market | +8.6% | 13.4% | 0.69 | −22.9% | — | 0.01 | 0.65% |
| 48 | SIXHETC 6 Meridian Hedged Equity Index Option ETF · Hedged Equity | Whole market | +10.3% | 10.3% | 1.01 | −11.7% | — | 0.57 | 0.31% |
| 49 | SMIGBahl & Gaynor Small/Mid Cap Income Growth ETF · US Dividend Equity | Whole market | +6.5% | 16.0% | 0.48 | −19.7% | — | 0.44 | 0.60% |
| 50 | SIXAETC 6 Meridian Mega Cap Equity ETF · US Large-Cap Equity | Whole market | +12.9% | 12.7% | 1.02 | −18.4% | — | 0.56 | 0.31% |
| 51 | QSPTFT Vest Nasdaq-100 Buffer ETF - September · Nasdaq-100 Buffer | Whole market | +11.9% | 14.9% | 0.83 | −22.6% | — | 0.18 | 0.90% |
| 52 | DXJWisdomTree Japan Hedged Equity Fund · Japan Equity | Whole market | +26.6% | 19.1% | 1.34 | −39.1% | +415% | 0.18 | 0.48% |
| 53 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity | Whole market | +16.9% | 11.1% | 1.48 | −32.4% | +194% | 0.53 | 0.40% |
| 54 | PTLCPacer Trendpilot US Large Cap ETF · Tactical Equity | Whole market | +9.3% | 11.9% | 0.81 | −26.6% | +185% | 0.13 | 0.60% |
| 55 | VSLUApplied Finance Valuation Large Cap ETF · US Large-Cap Value | Whole market | +13.7% | 16.2% | 0.88 | −23.8% | — | 0.34 | 0.49% |
| 56 |  VXUSVanguard Total International Stock ETF · International Equity | Whole market | +8.0% | 16.4% | 0.56 | −36.0% | +137% | 0.50 | 0.05% |
| 57 | CDCVictoryShares US EQ Income Enhanced Volatility Wtd ETF · US Dividend Equity | Whole market | +6.5% | 12.6% | 0.56 | −21.4% | +174% | 0.49 | 0.38% |
| 58 |  VEAVanguard FTSE Developed Markets ETF · Developed International Equity | Whole market | +9.1% | 16.9% | 0.60 | −35.8% | +152% | 0.51 | 0.03% |
| 59 |  GLDSPDR Gold Shares · Gold | Whole market | +17.1% | 19.0% | 0.93 | −26.4% | +206% | 0.32 | 0.40% |
| 60 |  VOVanguard Morningstar Mid-Cap ETF · US Mid-Cap Equity | Whole market | +6.8% | 17.6% | 0.46 | −39.4% | +199% | 0.35 | 0.03% |
| 61 |  SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Whole market | +10.2% | 14.4% | 0.75 | −33.4% | +256% | 0.54 | 0.06% |
| 62 |  EPDEnterprise Products Partners L.P. · Oil & Gas Midstream | Whole market | +16.3% | 17.1% | 0.98 | −58.1% | +178% | 0.26 | — |
| 63 |  SOThe Southern Company · Electric Utilities | Whole market | +12.3% | 18.9% | 0.71 | −38.4% | +178% | 0.47 | — |
| 64 |  VTVanguard Total World Stock ETF · Global Equity | Whole market | +10.1% | 16.2% | 0.68 | −34.2% | +220% | 0.39 | 0.06% |
| 65 |  ENBEnbridge Inc. · Oil & Gas Midstream | Whole market | +9.3% | 18.9% | 0.57 | −44.1% | +106% | 0.44 | — |
| 66 |  RSPInvesco S&P 500 Equal Weight ETF · US Large-Cap Equity | Whole market | +8.4% | 16.1% | 0.58 | −39.0% | +214% | 0.43 | 0.20% |
| 67 |  WMWaste Management, Inc. · Waste Management | Whole market | +9.5% | 19.3% | 0.57 | −30.1% | +357% | 0.27 | — |
| 68 |  DUKDuke Energy Corporation · Electric Utilities | Whole market | +7.9% | 18.1% | 0.52 | −37.4% | +140% | 0.49 | — |
| 69 |  DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity | Whole market | +14.4% | 17.5% | 0.86 | −34.7% | — | 0.25 | 0.26% |
| 70 |  QUALiShares MSCI USA Quality Factor ETF · US Quality Equity | Whole market | +11.2% | 17.3% | 0.70 | −34.1% | +290% | 0.33 | 0.15% |
| 71 |  DIAState Street SPDR Dow Jones Industrial Average ETF Trust · US Large-Cap Equity | Whole market | +10.0% | 14.8% | 0.72 | −36.7% | +251% | 0.44 | 0.16% |
| 72 |  EDConsolidated Edison, Inc. · Electric Utilities | Whole market | +12.7% | 18.9% | 0.73 | −30.9% | +123% | 0.59 | — |
| 73 | EFViShares MSCI EAFE Value ETF · International Large-Cap Value | Whole market | +13.6% | 15.9% | 0.89 | −43.2% | +156% | 0.57 | 0.31% |
| 74 | ATOAtmos Energy Corporation · Gas Utilities | Whole market | +15.9% | 18.5% | 0.90 | −32.9% | +207% | 0.48 | — |
| 75 |  XLFState Street Financial Select Sector SPDR ETF · Financial Sector Equity | Whole market | +8.7% | 18.3% | 0.55 | −42.9% | +245% | 0.30 | 0.08% |
| 76 | TPYPTortoise North American Pipeline ETF · Energy Infrastructure | Whole market | +17.2% | 17.3% | 1.01 | −51.9% | +188% | 0.39 | 0.40% |
| 77 | VOEVanguard Morningstar Mid-Cap Value ETF · Mid-Cap Value | Whole market | +9.7% | 15.8% | 0.67 | −43.2% | +185% | 0.45 | 0.05% |
| 78 | FNDFSchwab Fundamental International Large Company Index ETF · International Large-Cap Equity | Whole market | +13.6% | 16.3% | 0.87 | −40.2% | +193% | 0.55 | 0.25% |
| 79 | XLIState Street Industrial Select Sector SPDR ETF · US Industrials | Whole market | +11.4% | 17.6% | 0.70 | −42.3% | +246% | 0.40 | 0.08% |
| 80 | LLoews Corporation · Property & Casualty Insurance | Whole market | +15.0% | 19.2% | 0.83 | −48.5% | +190% | 0.33 | — |
| 81 |  VGKVanguard FTSE Europe ETF · European Equity | Whole market | +8.2% | 17.9% | 0.53 | −37.2% | +150% | 0.56 | 0.06% |
| 82 | FTSFortis Inc. · Electric Utilities | Whole market | +9.5% | 16.5% | 0.63 | −34.3% | +162% | 0.54 | — |
| 83 | WECWEC Energy Group, Inc. · Electric Utilities | Whole market | +7.7% | 19.1% | 0.49 | −32.3% | +168% | 0.53 | — |
| 84 | AVDVAvantis International Small Cap Value ETF · International Equity | Whole market | +13.6% | 17.4% | 0.82 | −43.0% | — | 0.50 | 0.36% |
| 85 | RDVYFirst Trust Rising Dividend Achievers ETF · Dividend Growth | Whole market | +11.3% | 18.8% | 0.67 | −40.6% | +321% | 0.33 | 0.47% |
| 86 | DGRWWisdomTree U.S. Quality Dividend Growth Fund · US Dividend Equity | Whole market | +11.7% | 14.0% | 0.87 | −32.0% | +271% | 0.48 | 0.28% |
| 87 | USMViShares MSCI USA Min Vol Factor ETF · US Low-Volatility Equity | Whole market | +7.7% | 12.3% | 0.66 | −33.1% | +179% | 0.54 | 0.15% |
| 88 | SPHQInvesco S&P 500 Quality ETF · US Quality Equity | Whole market | +11.7% | 16.7% | 0.75 | −31.6% | +295% | 0.35 | 0.20% |
| 89 | SDYState Street SPDR S&P Dividend ETF · US Dividend Equity | Whole market | +8.1% | 14.0% | 0.63 | −36.7% | +163% | 0.59 | 0.35% |
| 90 | XLUState Street Utilities Select Sector SPDR ETF · Utilities Equity | Whole market | +8.2% | 17.4% | 0.54 | −36.0% | +144% | 0.44 | 0.08% |
| 91 | EWJiShares MSCI Japan ETF · Japan Equity | Whole market | +9.3% | 18.7% | 0.57 | −33.1% | +129% | 0.36 | 0.49% |
| 92 | PPLPPL Corporation · Electric Utilities | Whole market | +7.6% | 19.0% | 0.48 | −48.7% | +62.8% | 0.46 | — |
| 93 | AMLPAlerian MLP ETF · Energy Equity | Whole market | +16.4% | 18.9% | 0.90 | −72.9% | +90.8% | 0.31 | 1.01% |
| 94 | DTEDTE Energy Company · Electric Utilities | Whole market | +6.2% | 19.1% | 0.41 | −42.4% | +134% | 0.48 | — |
| 95 | SCHVSchwab U.S. Large-Cap Value ETF · US Large-Cap Value | Whole market | +10.3% | 14.4% | 0.75 | −37.1% | +196% | 0.45 | 0.04% |
| 96 | EVRGEvergy, Inc. · Electric Utilities | Whole market | +9.9% | 19.0% | 0.60 | −38.8% | +113% | 0.39 | — |
| 97 | FDVVFidelity High Dividend ETF · High Dividend Yield | Whole market | +13.4% | 14.6% | 0.94 | −40.2% | +255% | 0.47 | 0.15% |
| 98 | AQNBAlgonquin Power & Utilities Corp. · Junior Subordinated Debt | Whole market | +5.6% | 11.6% | 0.53 | −42.7% | — | -0.15 | — |
| 99 | DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity | Whole market | +12.9% | 13.8% | 0.95 | −32.5% | +204% | 0.41 | 0.35% |
| 100 | CMSCMS Energy Corporation · Electric Utilities | Whole market | +6.1% | 19.1% | 0.41 | −29.6% | +129% | 0.47 | — |
MDLZ against its popular alternatives
The investments people most often weigh against MDLZ, compared period by period and year by year.
How do MDLZ'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 MDLZ, which divides the map into what did better or worse on each measure.
- Only KO was both more rewarding and calmer than MDLZ over the past 5 years, earning a higher annual return with lower volatility.
- 11 of the 20 popular alternatives earned less than MDLZ over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, MDLZ returned 4.3% a year, less than the S&P 500's 12.5%, with higher volatility (20.3% against 17.2%).
Green points earned more than MDLZ with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| LWAY Lifeway Foods, Inc. | +33.0% | 66.6% |
| WMT Walmart Inc. | +21.1% | 22.6% |
| COST Costco Wholesale Corporation | +17.4% | 22.9% |
| KO The Coca-Cola Company | +15.2% | 16.8% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.5% | 17.2% |
| TR Tootsie Roll Industries, Inc. | +8.3% | 25.2% |
| ADM Archer-Daniels-Midland Company | +6.8% | 28.7% |
| BG Bunge Global S.A. | +6.0% | 29.9% |
| SJM The J. M. Smucker Company | +5.2% | 25.1% |
| MDLZ This pageMondelez International, Inc. | +4.3% | 20.3% |
| HSY The Hershey Company | +1.8% | 23.5% |
| PEP PepsiCo, Inc. | +0.4% | 19.1% |
| UTZ Utz Brands, Inc. | +0.3% | 53.7% |
| KHC The Kraft Heinz Company | −2.3% | 23.5% |
| GIS General Mills, Inc. | −7.2% | 22.9% |
| MKC McCormick & Company, Incorporated | −7.4% | 25.5% |
| JJSF J&J Snack Foods Corp. | −8.4% | 28.7% |
| CPB Campbell Soup Company | −8.6% | 25.8% |
| HRL Hormel Foods Corporation | −9.4% | 25.0% |
| CAG Conagra Brands, Inc. | −10.2% | 24.8% |
| BRBR BellRing Brands, Inc. | −17.9% | 48.7% |
| FLO Flowers Foods, Inc. | −19.9% | 26.9% |
Has MDLZ consistently beaten its popular alternatives?
This section compares MDLZ 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 MDLZ helps separate lasting outperformance from a single strong stretch.
- Three of the 20 popular alternatives, KO, WMT and SJM, outperformed MDLZ in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- KO outperformed MDLZ in every long-term period and in all but one short-term period, the most consistent record in the group.
- WMT earned more for the risk it took than MDLZ (a higher Sharpe ratio) and fell less in its worst decline of the past 10 years.
A green cell means the alternative earned more than MDLZ over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| MDLZ Mondelez International, Inc. (this page) | — | +7.7% | +8.1% | +18.3% | +24.7% | +8.9% | +11.4% | +23.3% | +94.6% | 20.3% | 0.31 | −29.8% | — | $83B | — |
| KO QualifiedThe Coca-Cola Company | 4/5 short3/3 longAll-weather | +7.6% | +16.7% | +29.3% | +40.6% | +38.2% | +92.2% | +103% | +205% | 16.8% | 0.93 | −37.0% | — | $410B | — |
| WMT QualifiedWalmart Inc. | 3/5 short3/3 long | +10.0% | +11.0% | −6.4% | +8.1% | +14.0% | +133% | +161% | +521% | 22.6% | 0.97 | −25.7% | — | $964B | — |
| SJM QualifiedThe J. M. Smucker Company | 5/5 short2/3 long | +10.1% | +14.1% | +43.3% | +42.3% | +32.6% | +33.8% | +29.1% | +41.0% | 25.1% | 0.33 | −38.1% | — | $14B | — |
| COST Discount StoresCostco Wholesale Corporation | 2/5 short3/3 long | +13.2% | +10.0% | +1.8% | +19.7% | +8.4% | +91.8% | +123% | +692% | 22.9% | 0.82 | −31.4% | — | $451B | — |
| ADM Agricultural Farm ProductsArcher-Daniels-Midland Company | 2/5 short3/3 long | −3.0% | −8.0% | +16.5% | +38.0% | +32.8% | +21.9% | +38.9% | +152% | 28.7% | 0.38 | −54.1% | — | $38B | — |
| BG Agricultural Farm ProductsBunge Global S.A. | 1/5 short2/3 long | −6.2% | −16.2% | −17.0% | +13.4% | +10.8% | +10.9% | +33.5% | +125% | 29.9% | 0.34 | −60.5% | — | $20B | — |
| TR Food ConfectionersTootsie Roll Industries, Inc. | 0/5 short2/3 long | −0.7% | −5.4% | −10.7% | +5.8% | −6.3% | +47.7% | +48.6% | +66.2% | 25.2% | 0.44 | −36.4% | — | $2.8B | — |
| LWAY Packaged FoodsLifeway Foods, Inc. | 0/5 short2/3 long | −2.6% | −24.4% | −13.0% | +0.5% | −14.9% | +101% | +317% | +32.2% | 66.6% | 0.75 | −91.6% | — | $346M | — |
| UTZ Packaged FoodsUtz Brands, Inc. | 3/5 short1/3 long | +0.4% | +2.1% | +90.5% | +41.9% | +16.4% | +25.9% | +1.3% | — | 53.7% | 0.22 | −75.5% | — | $1.3B | — |
| HSY Food ConfectionersThe Hershey Company | 0/5 short1/3 long | +4.3% | +2.7% | −5.4% | −1.6% | −1.8% | +1.5% | +9.4% | +135% | 23.5% | 0.19 | −45.3% | — | $35B | — |
| JJSF Packaged FoodsJ&J Snack Foods Corp. | 1/5 short0/3 long | +7.9% | +10.8% | +6.2% | −3.4% | −6.3% | −38.9% | −35.6% | −14.1% | 28.7% | -0.16 | −59.3% | — | $1.6B | — |
| FLO Packaged FoodsFlowers Foods, Inc. | 1/5 short0/3 long | +9.2% | −20.7% | −23.9% | −36.6% | −45.7% | −62.8% | −67.1% | −36.0% | 26.9% | -0.70 | −77.3% | — | $1.4B | — |
| BRBR Packaged FoodsBellRing Brands, Inc. | 1/5 short0/3 long | +8.2% | −23.9% | −41.1% | −62.7% | −70.8% | −77.5% | −62.7% | — | 48.7% | -0.14 | −90.7% | — | $1.1B | — |
| PEP Beverages - Non-AlcoholicPepsiCo, Inc. | 0/5 short0/3 long | +5.8% | +3.4% | −7.8% | +0.6% | −5.6% | −3.4% | +2.1% | +76.3% | 19.1% | 0.12 | −30.3% | — | $189B | — |
| MKC Packaged FoodsMcCormick & Company, Incorporated | 0/5 short0/3 long | −0.4% | −5.4% | −3.5% | −25.5% | −26.4% | −13.0% | −32.0% | +27.0% | 25.5% | -0.18 | −53.1% | — | $13B | — |
| GIS Packaged FoodsGeneral Mills, Inc. | 0/5 short0/3 long | +1.1% | −2.9% | +3.6% | −17.7% | −23.5% | −35.5% | −31.0% | −14.8% | 22.9% | -0.21 | −59.6% | — | $19B | — |
| HRL Packaged FoodsHormel Foods Corporation | 0/5 short0/3 long | +6.7% | −14.0% | +2.4% | −3.6% | −6.6% | −21.4% | −39.1% | −25.4% | 25.0% | -0.27 | −59.1% | — | $12B | — |
| CAG Packaged FoodsConagra Brands, Inc. | 0/5 short0/3 long | +2.0% | +2.8% | +7.5% | −7.9% | −13.5% | −32.3% | −41.6% | −39.7% | 24.8% | -0.31 | −62.5% | — | $7.2B | — |
| CPB Packaged FoodsCampbell Soup Company | 0/5 short0/3 long | +6.5% | −1.6% | +5.1% | −18.4% | −27.9% | −38.2% | −36.1% | −42.8% | 25.8% | -0.22 | −61.1% | — | $6.3B | — |
| KHC Packaged FoodsThe Kraft Heinz Company | 0/5 short0/3 long | +4.5% | −1.8% | +18.6% | +8.2% | +4.6% | −4.6% | −11.2% | −54.9% | 23.5% | 0.02 | −76.1% | — | $30B | — |
How did MDLZ do year by year?
This table shows each investment's total return in every full calendar year since 2002, along with where MDLZ ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with MDLZ and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- MDLZ finished ahead of the S&P 500 in 11 of its 24 full calendar years, and behind it in each of the last three.
- Ranked against its popular alternatives each year, MDLZ finished in the top quarter in nine of 24 years and in the bottom quarter in four. In 2025, it ranked 10 of 21.
- Among its popular alternatives, BRBR came out ahead of MDLZ most often, in four of the six years both traded.
Newest year first. Green marks a year in which the fund came out ahead of MDLZ; gray means the two finished within a fraction of a point. The rank row places MDLZ among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of MDLZ | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MDLZ This pageMondelez International, Inc. | — | −7.0% | −15.3% | +11.2% | +2.9% | +15.9% | +8.6% | +40.4% | −4.3% | −1.6% | +0.6% | +25.4% | +4.6% | +41.7% | +121% | +24.7% | +22.8% | +8.8% | −13.0% | −4.1% | +32.6% | −17.3% | +14.4% | −14.4% | +16.9% |
| Rank among alternatives | Top quarter in 9 of 24 | 10 of 21 | 19 of 21 | 6 of 21 | 14 of 21 | 11 of 21 | 14 of 21 | 5 of 20 | 10 of 19 | 12 of 19 | 15 of 19 | 2 of 18 | 14 of 18 | 4 of 18 | 1 of 18 | 2 of 18 | 5 of 18 | 15 of 18 | 8 of 18 | 13 of 18 | 5 of 18 | 16 of 18 | 11 of 18 | 18 of 18 | 2 of 18 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 12 of 24 | +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% |
| KO The Coca-Cola Company | 10 of 24 | +15.6% | +8.9% | −4.4% | +10.6% | +11.4% | +2.5% | +20.6% | +6.8% | +14.3% | −0.3% | +5.2% | +5.3% | +17.2% | +6.5% | +9.5% | +19.0% | +30.4% | −24.0% | +30.4% | +23.2% | −0.8% | −16.2% | +18.2% | −5.5% |
| WMT Walmart Inc. | 12 of 24 | +24.5% | +74.0% | +12.9% | −0.5% | +1.9% | +23.4% | +30.1% | −3.4% | +46.6% | +16.1% | −26.6% | +11.8% | +18.2% | +17.1% | +13.8% | +3.1% | −2.5% | +20.0% | +4.9% | +0.2% | −10.2% | +0.6% | +5.6% | −11.8% |
| SJM The J. M. Smucker Company | 11 of 24 | −7.6% | −9.6% | −17.8% | +20.1% | +21.0% | +14.5% | +14.9% | −22.6% | −0.5% | +6.0% | +25.0% | −0.2% | +22.7% | +13.2% | +22.1% | +9.1% | +46.7% | −4.9% | +8.5% | +13.1% | −4.4% | +6.1% | +16.4% | +11.8% |
| COST Costco Wholesale Corporation | 15 of 24 | −5.4% | +39.6% | +49.0% | −19.1% | +51.8% | +32.7% | +45.7% | +10.6% | +22.4% | +0.3% | +18.9% | +20.5% | +21.9% | +28.4% | +16.7% | +23.7% | +14.3% | −24.0% | +33.2% | +7.9% | +3.2% | +31.1% | +32.5% | −36.8% |
| ADM Archer-Daniels-Midland Company | 13 of 24 | +18.2% | −27.5% | −20.4% | +40.0% | +37.3% | +12.4% | +17.1% | +5.3% | −9.5% | +28.4% | −27.7% | +22.3% | +61.8% | −1.8% | −2.9% | −2.0% | +10.8% | −36.9% | +47.2% | +31.1% | +12.2% | +49.3% | +24.9% | −12.1% |
| BG Bunge Global S.A. | 11 of 24 | +18.6% | −20.7% | +3.8% | +9.3% | +45.9% | +18.9% | +11.8% | −18.0% | −4.8% | +8.7% | −23.5% | +12.5% | +14.7% | +29.1% | −11.4% | +4.3% | +25.1% | −55.1% | +61.8% | +29.5% | +0.3% | +75.2% | +39.0% | +5.2% |
| TR Tootsie Roll Industries, Inc. | 9 of 24 | +25.1% | +1.5% | −18.8% | +22.4% | +27.1% | −9.3% | +6.3% | −4.3% | −4.7% | +31.0% | +7.6% | −1.7% | +31.0% | +17.4% | −14.5% | +10.5% | +12.1% | −2.3% | −13.1% | +17.8% | −13.0% | −0.1% | +22.0% | −18.6% |
| LWAY Lifeway Foods, Inc. | 14 of 24 | −2.3% | +84.9% | +142% | +20.6% | −15.0% | +172% | +5.9% | −76.5% | −30.5% | +3.7% | −40.1% | +16.0% | +83.7% | −8.7% | +0.9% | −19.6% | +32.2% | −24.0% | +26.5% | +50.2% | +36.1% | +35.3% | +92.0% | +4.2% |
| UTZ Utz Brands, Inc. | 2 of 7 | −32.4% | −2.1% | +3.9% | +0.9% | −27.0% | +116% | +6.5% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| HSY The Hershey Company | 14 of 24 | +11.0% | −6.5% | −17.9% | +21.9% | +29.6% | +5.9% | +40.2% | −2.9% | +12.3% | +18.8% | −12.0% | +9.2% | +37.4% | +19.6% | +34.4% | +35.6% | +6.5% | −8.9% | −18.9% | −8.1% | +1.0% | +46.9% | +16.6% | +1.4% |
| JJSF J&J Snack Foods Corp. | 13 of 24 | −40.0% | −5.4% | +13.7% | −3.4% | +3.3% | −14.2% | +29.0% | −3.6% | +15.2% | +15.9% | +8.7% | +24.5% | +40.1% | +21.1% | +11.6% | +22.0% | +12.6% | +16.3% | −23.7% | +40.7% | +22.1% | +30.3% | +5.7% | +46.1% |
| FLO Flowers Foods, Inc. | 10 of 24 | −43.6% | −4.3% | −18.7% | +8.0% | +25.6% | +7.7% | +21.9% | −0.9% | +0.1% | −3.5% | +15.0% | −8.5% | +41.4% | +26.3% | +9.0% | +16.8% | +0.5% | +6.4% | +32.3% | −0.5% | +33.2% | +25.1% | +101% | −26.7% |
| BRBR BellRing Brands, Inc. | 4 of 6 | −64.5% | +35.9% | +116% | −10.1% | +17.4% | +14.2% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| PEP PepsiCo, Inc. | 12 of 24 | −1.8% | −7.6% | −3.3% | +6.8% | +20.5% | +11.7% | +27.4% | −4.8% | +17.8% | +7.8% | +8.8% | +17.3% | +24.6% | +6.4% | +4.8% | +10.7% | +14.6% | −26.0% | +23.8% | +7.9% | +15.3% | +13.8% | +12.1% | −12.2% |
| MKC McCormick & Company, Incorporated | 11 of 24 | −8.3% | +14.0% | −15.7% | −12.7% | +2.7% | +14.3% | +23.7% | +39.0% | +11.4% | +11.1% | +17.5% | +10.1% | +10.7% | +28.7% | +11.0% | +32.1% | +16.9% | −13.8% | +0.5% | +27.2% | −18.2% | +30.3% | +32.1% | +12.6% |
| GIS General Mills, Inc. | 13 of 24 | −23.7% | +1.4% | −20.0% | +28.1% | +18.5% | +13.6% | +43.1% | −31.6% | −0.7% | +10.3% | +11.5% | +10.3% | +27.3% | +3.3% | +17.2% | +3.5% | +20.2% | +9.5% | +1.6% | +20.0% | +1.2% | +12.6% | −1.2% | −7.5% |
| HRL Hormel Foods Corporation | 12 of 24 | −21.3% | +1.2% | −27.5% | −4.7% | +7.0% | +5.4% | +7.8% | +19.7% | +6.7% | −10.6% | +54.5% | +17.2% | +47.3% | +8.8% | +16.5% | +36.0% | +26.5% | −21.7% | +10.1% | +16.3% | +5.9% | +23.6% | +12.6% | −11.9% |
| CAG Conagra Brands, Inc. | 9 of 24 | −33.3% | +1.5% | −22.8% | +17.5% | −2.5% | +8.6% | +65.5% | −42.0% | −2.6% | +24.0% | +19.2% | +11.0% | +17.6% | +15.0% | +21.4% | +1.4% | +45.7% | −28.0% | −9.2% | +38.0% | −28.1% | +15.9% | +10.2% | +9.4% |
| CPB Campbell Soup Company | 7 of 24 | −30.5% | +0.1% | −21.4% | +34.8% | −7.2% | +0.7% | +55.2% | −29.1% | −18.3% | +17.6% | +22.7% | +4.6% | +25.8% | +9.4% | −1.0% | +6.1% | +16.4% | −13.6% | −6.0% | +33.4% | +2.0% | +14.2% | +17.1% | −19.0% |
| KHC The Kraft Heinz Company | 4 of 10 | −16.3% | −12.9% | −5.1% | +18.2% | +8.0% | +13.8% | −21.2% | −42.2% | −8.4% | +23.5% | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Risk and diversification
How MDLZ 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 MDLZ's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents MDLZ's five deepest drawdowns since it began trading in 2001, 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.
- Not every decline was the market's doing: MDLZ fell 29.2% from May 2023 to January 2026, while the S&P 500 rose 73.4%.
- The slowest recovery came after MDLZ fell 37.4% from June 2002 to March 2003; it did not regain that peak until June 2007, four years later.
- In three of MDLZ's five worst declines, the S&P 500 held up better over the same dates.
Green means MDLZ fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | MDLZ fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2008 financial crisis | −38.2% | −44.1% | Sep 2008 | Mar 2009 | 6 months | Sep 2010 | 18 months |
| Dot-com bust | −37.4% | −21.5% | Jun 2002 | Mar 2003 | 9 months | Jun 2007 | 4.3 years |
| Covid crash | −29.8% | −33.6% | Feb 2020 | Mar 2020 | 1 month | Sep 2020 | 6 months |
| No named crash | −29.2% | +73.4% | May 2023 | Jan 2026 | 2.7 years | Not yet | — |
| 2015 China and oil sell-off | −22.3% | −9.1% | Oct 2015 | Feb 2016 | 4 months | May 2017 | 15 months |
How did MDLZ do in stock market crashes?
This section measures how far MDLZ, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.
Note: MDLZ began trading on June 13, 2001, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.
- MDLZ fell less than the S&P 500 in seven of the nine crashes it has traded through. The clearest case was the 2008 financial crisis, when MDLZ fell 38.2% and the S&P 500 fell 55.2%.
- Among its popular alternatives, TR held up best, falling less than MDLZ in six of the nine crashes they both traded through.
- MDLZ began trading after the dot-com bust, but 16 of its popular alternatives lived through it. The mildest fall among them was MKC's 22.0%, against 47.5% for the S&P 500.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than MDLZ.
| Investment | Held up better | 2023 regional bank crisisMar 2023 | 2022 bear marketJan 2022 | Covid crashFeb 2020 | Late-2018 sell-offSep 2018 | February 2018 volatility shockFeb 2018 | 2015 China and oil sell-offAug 2015 | 2011 euro debt crisisJul 2011 | 2010 flash crashMay 2010 | 2008 financial crisisOct 2007 | Dot-com bustMar 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| MDLZ This pageMondelez International, Inc. | — | −0.5% | −18.3% | −29.3% | −12.3% | −7.4% | −22.3% | −7.4% | 0.0% | −38.2% | Not yet trading |
| SPY S&P 500State Street SPDR S&P 500 ETF | 2 of 9 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| KO The Coca-Cola Company | 3 of 9 | −1.4% | −16.7% | −37.0% | −8.8% | −7.8% | −8.8% | −8.3% | 0.0% | −40.6% | −31.3% |
| WMT Walmart Inc. | 3 of 9 | −0.8% | −25.7% | −13.1% | −18.3% | −4.9% | −22.3% | −10.5% | −1.5% | −26.2% | −31.8% |
| SJM The J. M. Smucker Company | 5 of 9 | −1.7% | −15.5% | −19.4% | −17.8% | −2.9% | −6.0% | −14.8% | −0.8% | −32.0% | −23.1% |
| COST Costco Wholesale Corporation | 3 of 9 | −3.1% | −31.4% | −13.7% | −20.8% | −6.5% | −15.2% | −13.5% | −1.2% | −48.0% | −50.1% |
| ADM Archer-Daniels-Midland Company | 1 of 9 | −4.1% | −26.7% | −33.7% | −22.9% | −2.0% | −35.5% | −24.4% | 0.0% | −68.0% | −31.0% |
| BG Bunge Global S.A. | 1 of 9 | −5.6% | −34.7% | −44.0% | −25.8% | −3.1% | −39.5% | −23.7% | 0.0% | −77.3% | — |
| TR Tootsie Roll Industries, Inc. | 6 of 9 | −1.3% | −14.5% | −8.9% | −7.2% | −3.3% | −7.2% | −20.6% | −1.5% | −36.4% | −38.4% |
| LWAY Lifeway Foods, Inc. | 1 of 9 | −0.2% | −45.8% | −41.4% | −36.0% | −5.2% | −34.7% | −12.2% | 0.0% | −69.0% | −43.4% |
| UTZ Utz Brands, Inc. | 1 of 3 | −3.8% | −31.0% | −8.7% | — | — | — | — | — | — | — |
| HSY The Hershey Company | 5 of 9 | −0.5% | −11.6% | −30.8% | −6.0% | −5.2% | −13.9% | −7.4% | 0.0% | −29.5% | −23.0% |
| JJSF J&J Snack Foods Corp. | 3 of 9 | −1.8% | −27.3% | −38.0% | −11.9% | −3.5% | −15.3% | −16.9% | −1.1% | −37.5% | −39.0% |
| FLO Flowers Foods, Inc. | 5 of 9 | −2.9% | −15.6% | −19.8% | −10.1% | −3.0% | −37.5% | −20.5% | −0.3% | −33.4% | −34.8% |
| BRBR BellRing Brands, Inc. | 0 of 3 | −3.6% | −27.9% | −35.1% | — | — | — | — | — | — | — |
| PEP PepsiCo, Inc. | 3 of 9 | −0.8% | −11.9% | −28.3% | −12.3% | −7.2% | −10.2% | −8.3% | −0.2% | −40.4% | −33.0% |
| MKC McCormick & Company, Incorporated | 3 of 9 | −2.5% | −31.3% | −30.6% | −14.0% | −2.1% | −10.8% | −12.5% | −1.7% | −31.1% | −22.0% |
| GIS General Mills, Inc. | 5 of 9 | −0.8% | −10.9% | −20.8% | −19.7% | −3.5% | −8.2% | −7.6% | −1.7% | −28.2% | −26.1% |
| HRL Hormel Foods Corporation | 4 of 9 | −2.6% | −18.5% | −17.2% | −10.8% | −4.3% | −7.6% | −13.0% | 0.0% | −40.3% | −26.4% |
| CAG Conagra Brands, Inc. | 4 of 9 | −2.5% | −16.4% | −19.2% | −43.7% | −3.3% | −13.9% | −13.6% | −1.1% | −44.7% | −30.5% |
| CPB Campbell Soup Company | 5 of 9 | −1.5% | −12.1% | −20.3% | −17.6% | −0.9% | −9.0% | −11.9% | −0.1% | −35.1% | −36.5% |
| KHC The Kraft Heinz Company | 2 of 6 | −0.4% | −24.1% | −25.6% | −25.2% | −7.5% | −12.2% | — | — | — | — |
How closely does MDLZ 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 MDLZ with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- Over the past 10 years, MDLZ captured 45% of the S&P 500's gains in rising months and 55% of its losses in falling months, with a beta of 0.52. Its share of the market's losses was larger than its share of the gains.
- HSY took just 25% of the S&P 500's losses, against 55% for MDLZ, while still keeping 38% of its gains.
- Seven of the 17 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than MDLZ's 0.82, led by WMT, COST and TR.
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 MDLZ's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| MDLZ This pageMondelez International, Inc. | 45% | 55% | 0.82 | 0.52 |
| WMT Walmart Inc. | 74% | 36% | 2.08 | 0.53 |
| COST Costco Wholesale Corporation | 93% | 50% | 1.85 | 0.77 |
| TR Tootsie Roll Industries, Inc. | 22% | 12% | 1.77 | 0.17 |
| HSY The Hershey Company | 38% | 25% | 1.53 | 0.24 |
| KO The Coca-Cola Company | 57% | 44% | 1.29 | 0.47 |
| BG Bunge Global S.A. | 67% | 72% | 0.92 | 0.66 |
| ADM Archer-Daniels-Midland Company | 72% | 79% | 0.91 | 0.75 |
| PEP PepsiCo, Inc. | 48% | 65% | 0.75 | 0.48 |
| SJM The J. M. Smucker Company | 25% | 38% | 0.67 | 0.30 |
| MKC McCormick & Company, Incorporated | 53% | 96% | 0.55 | 0.57 |
| JJSF J&J Snack Foods Corp. | 32% | 82% | 0.39 | 0.50 |
| GIS General Mills, Inc. | 22% | 65% | 0.34 | 0.27 |
| CAG Conagra Brands, Inc. | 25% | 90% | 0.27 | 0.42 |
| KHC The Kraft Heinz Company | 19% | 100% | 0.19 | 0.58 |
| FLO Flowers Foods, Inc. | 9% | 58% | 0.16 | 0.36 |
| HRL Hormel Foods Corporation | 6% | 37% | 0.15 | 0.15 |
| CPB Campbell Soup Company | 6% | 58% | 0.11 | 0.30 |
| LWAY Lifeway Foods, Inc. | 7% | 0% | — | 1.18 |
What diversifies MDLZ?
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 MDLZ's. Because such investments tend not to fall at the same time, pairing MDLZ with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in MDLZ into DXJ would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+2.6% for MDLZ alone, +7.5% for the mix).
- FIX made money in seven of the eight calendar years in which MDLZ lost money.
- Among large ETFs, DXJ, EMLP and DBEF have moved largely independently of MDLZ over the past 5 years, with correlations of 0.41 or lower, and each still earned a positive 5-year return.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which MDLZ lost money. The last two columns show a portfolio that is 80% MDLZ and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2025 | 2024 | 2018 | 2017 | 2008 | 2007 | 2005 | 2003 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MDLZ Mondelez International, Inc. (this page) | 1.00 | +23.3% | 0.31 | −7.0% | −15.3% | −4.3% | −1.6% | −13.0% | −4.1% | −17.3% | −14.4% | 18.9% | +2.6% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.18 | +225% | 1.34 | +32.8% | +29.8% | −19.8% | +22.8% | −20.8% | −7.4% | — | — | 15.8% | +7.5% |
| EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund | 0.41 | +103% | 1.06 | +9.7% | +33.4% | −8.7% | +1.1% | — | — | — | — | 16.6% | +5.3% |
| DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF | 0.41 | +83.6% | 0.95 | +23.1% | +13.4% | −9.5% | +16.7% | — | — | — | — | 16.2% | +5.0% |
| SMH TechnologyVanEck Semiconductor ETF | 0.07 | +304% | 0.94 | +49.2% | +39.1% | −9.1% | +38.5% | −44.7% | +6.0% | +10.8% | +87.3% | 17.1% | +10.1% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.33 | +178% | 0.94 | +7.9% | +5.6% | −18.2% | −0.9% | −39.0% | +36.8% | +40.1% | +25.9% | 17.6% | +7.0% |
| GLD CommoditiesSPDR Gold Shares | 0.32 | +120% | 0.93 | +63.7% | +26.7% | −1.9% | +12.8% | +4.9% | +30.4% | +17.8% | — | 16.6% | +5.9% |
| VTV Broad MarketVanguard Morningstar Value ETF | 0.49 | +78.0% | 0.91 | +15.3% | +16.0% | −5.5% | +17.1% | −35.9% | −0.1% | +7.2% | — | 16.7% | +4.8% |
| VLUE Broad MarketiShares MSCI USA Value Factor ETF | 0.34 | +112% | 0.91 | +32.7% | +7.2% | −11.1% | +21.9% | — | — | — | — | 17.0% | +5.9% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2025 | 2024 | 2018 | 2017 | 2008 | 2007 | 2005 | 2003 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MDLZ Mondelez International, Inc. (this page) | 1.00 | +23.3% | 0.31 | −7.0% | −15.3% | −4.3% | −1.6% | −13.0% | −4.1% | −17.3% | −14.4% | 18.9% | +2.6% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.23 | +471% | 1.54 | +76.3% | +19.0% | −24.5% | −12.7% | −39.6% | −9.8% | +18.7% | +3.5% | 17.1% | +9.6% |
| CLS Hardware, Equipment & PartsCelestica Inc. | -0.13 | +2,780% | 1.43 | +220% | +215% | −16.3% | −11.6% | −20.5% | −25.7% | −25.2% | +6.9% | 17.9% | +22.2% |
| MCK Medical - DistributionMcKesson Corporation | 0.23 | +397% | 1.41 | +44.5% | +23.7% | −28.4% | +12.0% | −40.4% | +29.7% | +64.9% | +19.9% | 17.1% | +9.0% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.11 | +1,452% | 1.41 | +121% | +107% | +0.8% | +32.1% | −15.2% | +2.1% | +20.1% | +63.6% | 18.4% | +17.9% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.17 | +660% | 1.39 | +19.2% | −4.0% | −8.2% | +34.8% | — | — | — | — | 17.5% | +11.6% |
Common questions
What was MDLZ's worst drawdown?
MDLZ's deepest decline since it began trading in 2001 was 38.2%, from September 2008 to March 2009. It took 18 months from the low to climb back to its old high.
What were MDLZ's best and worst years?
Over 24 full calendar years, MDLZ's best year was 2012, when it returned 121%. Its worst was 2005, with a return of -17.3%.
Is there a better investment than MDLZ?
Among MDLZ's popular alternatives, KO earned more than MDLZ with less volatility over the past 5 years: 15.2% a year at 16.8% volatility, against 4.3% a year at 20.3%. Looking beyond its popular alternatives, CHSCL (agricultural products) matched MDLZ's return over the past 5 years (4.2% a year against 4.3%) with 53% less volatility.
Is MDLZ more volatile than the S&P 500?
Yes. MDLZ's volatility over the past 5 years was 20.3%, 1.2 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MDLZ's return lands within 20.3% 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 MDLZ's Sharpe ratio?
MDLZ's Sharpe ratio over the past 5 years was 0.31, against 0.78 for the S&P 500, so MDLZ 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 MDLZ with the S&P 500?
Over the past 5 years, MDLZ's monthly returns had a correlation of 0.31 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against MDLZ instead: the lower it is, the more that option would diversify a MDLZ holding.
What are the best alternatives to MDLZ?
Of the 20 popular alternatives we compared, three outperformed MDLZ in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: KO, WMT and SJM.
Did MDLZ outperform the S&P 500?
MDLZ finished ahead of the S&P 500 (SPY) in 11 of 24 full calendar years. In 2025, it returned -7.0%, against +17.7% for the index.
How did MDLZ do in stock market crashes?
MDLZ fell less than the S&P 500 (SPY) in seven of the nine major crashes it has traded through, and further in two. The clearest case was the 2008 financial crisis, when MDLZ fell 38.2% and the S&P 500 fell 55.2%.
What diversifies MDLZ?
These had a low correlation with MDLZ over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.18), EMLP (correlation 0.41) and DBEF (correlation 0.41); among large stocks, CAH (correlation 0.23), CLS (correlation -0.13) and MCK (correlation 0.23). A correlation near zero means the two have moved largely independently.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y; long-term periods are 3Y, 5Y, 10Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than MDLZ's. Returns within 0.5 points or 3% of MDLZ's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
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