BetterThanSPY

Relative Intelligence · Industrial REITs

How Prologis (PLD) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on PLD alone. It places PLD (Prologis, Inc.) against 15 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 PLD stands in the market, and of the alternatives worth a closer look.

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

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

Rank the market against PLD →Chart PLD vs. 15 alternatives →

This page answers the following questions about PLD

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 PLD have grown?

This chart tracks a hypothetical $10,000 investment in PLD over the past 28 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of PLD over the same span and PLD'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 1998 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. 467 of the 1,106 stocks and funds worth at least $500 million that traded the whole period ended ahead of PLD; the chart shows 5, closest alternatives first. The other 2 lines are popular alternatives, shown for context.

$10,000$100,000$1M199820032008201320182023$10,000$100,000$1M19982005201220192026
  • AMZN$3M+26,684% total · +22.1% a year
  • EXPD$691,490+6,815% total · +16.3% a year
  • EGP$373,246+3,632% total · +13.8% a year
  • SPG$262,419+2,524% total · +12.4% a year
  • FDX$246,428+2,364% total · +12.1% a year
  • PLD$149,414+1,394% total · +10.1% a year
  • SPY (S&P 500)$121,630+1,116% total · +9.3% a year
  • FR$78,240+682% total · +7.6% a year
  • LXP$65,226+552% total · +6.9% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 2,135 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of PLD; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$1,000$2,000$5,000$10,000$20,000202120222023202420252026$1,000$2,000$5,000$10,000$20,000202120222023202420252026
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • FDX$17,773+77.7% total · +12.2% a year
  • AMZN$15,169+51.7% total · +8.7% a year
  • DLR$14,403+44.0% total · +7.6% a year
  • EGP$13,821+38.2% total · +6.7% a year
  • FR$13,155+31.5% total · +5.6% a year
  • LXP$12,292+22.9% total · +4.2% a year
  • PLD$11,993+19.9% total · +3.7% a year
  • TRNO$11,823+18.2% total · +3.4% a year
  • ILPT$3,160−68.4% total · −20.6% a year
Change the dates or add tickers to this chart in EasyCompare

PLD 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
$120B
Industry
REIT - Industrial
Price history from
November 1997

Returns

Past 1 year
+3.7%total return
Past 3 years
+38.4%+11.4% a year
Past 5 years
+1.9%+0.4% a year
Past 10 years
+218%+12.3% a year
Best calendar year
+72.3%2021
Worst calendar year
−58.0%2008
Losing years
7 of 28full calendar years

Risk

Volatility
27.2%typical yearly swing, 5 years
Sharpe ratio
0.15return per unit of risk, 5 years
Worst decline ever
−84.7%Oct 2007 to Mar 2009
From its all-time high
−16.0%below the peak

PLD against the whole market

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

How does PLD rank among all stocks?

This section ranks PLD 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 PLD 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.

MeasurePLDRankStanding
1-year return+3.7%1,864 of 3,282bottom 44%
3-year return+38.4%1,745 of 3,016bottom 43%
5-year return+1.9%1,711 of 2,897bottom 42%
10-year return+218%802 of 2,201top 36%
Volatility, 5 years27.2%498 of 2,897top 17%
Sharpe ratio, 5 years0.151,999 of 2,897bottom 32%
Worst decline, past 10 years−43.3%237 of 2,184top 11%

What has beaten PLD 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). PLD sits where the dashed lines cross. Anything in the green box above and to the left earned more than PLD 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 PLD; faint dots are 93 more of the 1,027 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%0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than PLDWCN: +7.4% a year, volatility 20.4%MGV: +12.8% a year, volatility 13.4%VTI: +11.4% a year, volatility 17.5%VOO: +12.6% a year, volatility 16.9%IOO: +15.6% a year, volatility 17.2%WMT: +21.1% a year, volatility 22.6%MOAT: +9.5% a year, volatility 18.4%JNJ: +13.5% a year, volatility 18.0%V: +13.2% a year, volatility 22.9%KO: +15.2% a year, volatility 16.8%LVHI: +16.9% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%VXUS: +8.0% a year, volatility 16.4%QQQ: +14.2% a year, volatility 23.0%NVS: +17.4% a year, volatility 20.7%MCK: +37.8% a year, volatility 25.1%AMGN: +20.1% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%ILCV: +12.7% a year, volatility 14.1%VEA: +9.1% a year, volatility 16.9%PGR: +21.8% a year, volatility 25.7%PTNQ: +9.4% a year, volatility 14.2%EQL: +13.4% a year, volatility 14.5%SCHD: +10.2% a year, volatility 14.4%LMT: +12.5% a year, volatility 24.4%COR: +23.6% a year, volatility 22.8%MNST: +17.4% a year, volatility 24.9%CME: +11.6% a year, volatility 20.8%VT: +10.1% a year, volatility 16.2%VWO: +5.0% a year, volatility 17.5%MSI: +15.2% a year, volatility 23.6%PJUL: +10.4% a year, volatility 8.6%GSK: +9.5% a year, volatility 24.5%DUK: +7.9% a year, volatility 18.1%AEP: +12.8% a year, volatility 20.2%FJAN: +11.0% a year, volatility 10.5%POCT: +9.9% a year, volatility 8.0%FAST: +16.2% a year, volatility 24.6%SCHG: +12.8% a year, volatility 22.5%CL: +7.8% a year, volatility 19.3%DYNF: +14.4% a year, volatility 17.5%MRSH: +4.8% a year, volatility 21.0%DIA: +10.0% a year, volatility 14.8%ED: +12.7% a year, volatility 18.9%CP: +4.4% a year, volatility 24.1%ATO: +15.9% a year, volatility 18.5%DOCT: +8.2% a year, volatility 7.4%XLV: +8.4% a year, volatility 15.3%CHT: +8.2% a year, volatility 13.3%DFIV: +14.8% a year, volatility 16.4%XEL: +7.2% a year, volatility 20.9%SPMO: +18.1% a year, volatility 20.9%AVLV: +13.9% a year, volatility 16.9%VGK: +8.2% a year, volatility 17.9%PSA: +3.4% a year, volatility 24.2%HDV: +13.3% a year, volatility 13.0%FTS: +9.5% a year, volatility 16.5%WEC: +7.7% a year, volatility 19.1%NI: +15.5% a year, volatility 20.3%DGX: +13.0% a year, volatility 22.5%DFAT: +9.7% a year, volatility 21.0%DGRW: +11.7% a year, volatility 14.0%USMV: +7.7% a year, volatility 12.3%DFAS: +7.2% a year, volatility 20.5%AEE: +8.2% a year, volatility 19.4%DTM: +25.0% a year, volatility 25.2%AVEM: +9.0% a year, volatility 19.5%SPHQ: +11.7% a year, volatility 16.7%WTW: +7.5% a year, volatility 24.0%SDY: +8.1% a year, volatility 14.0%XLU: +8.2% a year, volatility 17.4%EWJ: +9.3% a year, volatility 18.7%RY: +17.5% a year, volatility 18.2%BUFR: +9.8% a year, volatility 10.5%VOT: +3.3% a year, volatility 21.7%RWL: +13.7% a year, volatility 14.4%ORLY: +15.8% a year, volatility 23.4%DBEF: +12.9% a year, volatility 13.8%CMS: +6.1% a year, volatility 19.1%WELL: +27.0% a year, volatility 23.8%JQUA: +13.5% a year, volatility 15.7%LNT: +7.6% a year, volatility 19.8%XLP: +7.6% a year, volatility 13.8%DIVO: +10.9% a year, volatility 11.9%IQLT: +7.6% a year, volatility 16.5%SGOV: +3.8% a year, volatility 0.3%ACT: +20.7% a year, volatility 24.4%EMA: +5.9% a year, volatility 24.5%QYLD: +8.2% a year, volatility 15.0%EFG: +3.2% a year, volatility 18.5%SCI: +7.4% a year, volatility 25.2%FLTW: +21.3% a year, volatility 24.4%IDA: +9.4% a year, volatility 19.2%PLD: +0.4% a year, volatility 27.2%SPY (S&P 500): +12.5% a year, volatility 17.2%EGP: +4.3% a year, volatility 23.3%LXP: +1.5% a year, volatility 25.2%TRNO: +1.1% a year, volatility 24.9%AMZN: +8.5% a year, volatility 36.6%FR: +1.8% a year, volatility 23.1%DLR: +5.2% a year, volatility 29.4%PSTL: +9.3% a year, volatility 23.1%EXPD: +11.1% a year, volatility 27.1%KIM: +5.2% a year, volatility 25.1%PECO: +8.2% a year, volatility 22.3%SPG: +13.8% a year, volatility 25.9%VNQ: +0.6% a year, volatility 18.9%BRK-A: +13.5% a year, volatility 17.2%LIN: +11.7% a year, volatility 20.9%RSG: +14.1% a year, volatility 18.6%WM: +9.5% a year, volatility 19.3%DGRO: +11.1% a year, volatility 13.7%ICE: +5.9% a year, volatility 21.8%MSFT: +11.9% a year, volatility 28.2%IAGG: +1.2% a year, volatility 4.5%CAH: +41.7% a year, volatility 24.7%PLDSPY (S&P 500)EGPLXPTRNOAMZNDLRPSTLEXPDKIMPECOSPGVNQBRK-AWMDGROICEIAGGCAH−10.0%0.0%10.0%20.0%30.0%40.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than PLDWCN: +7.4% a year, volatility 20.4%MGV: +12.8% a year, volatility 13.4%VTI: +11.4% a year, volatility 17.5%VOO: +12.6% a year, volatility 16.9%IOO: +15.6% a year, volatility 17.2%WMT: +21.1% a year, volatility 22.6%MOAT: +9.5% a year, volatility 18.4%JNJ: +13.5% a year, volatility 18.0%V: +13.2% a year, volatility 22.9%KO: +15.2% a year, volatility 16.8%LVHI: +16.9% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%VXUS: +8.0% a year, volatility 16.4%QQQ: +14.2% a year, volatility 23.0%NVS: +17.4% a year, volatility 20.7%MCK: +37.8% a year, volatility 25.1%AMGN: +20.1% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%ILCV: +12.7% a year, volatility 14.1%VEA: +9.1% a year, volatility 16.9%PGR: +21.8% a year, volatility 25.7%PTNQ: +9.4% a year, volatility 14.2%EQL: +13.4% a year, volatility 14.5%SCHD: +10.2% a year, volatility 14.4%LMT: +12.5% a year, volatility 24.4%COR: +23.6% a year, volatility 22.8%MNST: +17.4% a year, volatility 24.9%CME: +11.6% a year, volatility 20.8%VT: +10.1% a year, volatility 16.2%VWO: +5.0% a year, volatility 17.5%MSI: +15.2% a year, volatility 23.6%PJUL: +10.4% a year, volatility 8.6%GSK: +9.5% a year, volatility 24.5%DUK: +7.9% a year, volatility 18.1%AEP: +12.8% a year, volatility 20.2%FJAN: +11.0% a year, volatility 10.5%POCT: +9.9% a year, volatility 8.0%FAST: +16.2% a year, volatility 24.6%SCHG: +12.8% a year, volatility 22.5%CL: +7.8% a year, volatility 19.3%DYNF: +14.4% a year, volatility 17.5%MRSH: +4.8% a year, volatility 21.0%DIA: +10.0% a year, volatility 14.8%ED: +12.7% a year, volatility 18.9%CP: +4.4% a year, volatility 24.1%ATO: +15.9% a year, volatility 18.5%DOCT: +8.2% a year, volatility 7.4%XLV: +8.4% a year, volatility 15.3%CHT: +8.2% a year, volatility 13.3%DFIV: +14.8% a year, volatility 16.4%XEL: +7.2% a year, volatility 20.9%SPMO: +18.1% a year, volatility 20.9%AVLV: +13.9% a year, volatility 16.9%VGK: +8.2% a year, volatility 17.9%PSA: +3.4% a year, volatility 24.2%HDV: +13.3% a year, volatility 13.0%FTS: +9.5% a year, volatility 16.5%WEC: +7.7% a year, volatility 19.1%NI: +15.5% a year, volatility 20.3%DGX: +13.0% a year, volatility 22.5%DFAT: +9.7% a year, volatility 21.0%DGRW: +11.7% a year, volatility 14.0%USMV: +7.7% a year, volatility 12.3%DFAS: +7.2% a year, volatility 20.5%AEE: +8.2% a year, volatility 19.4%DTM: +25.0% a year, volatility 25.2%AVEM: +9.0% a year, volatility 19.5%SPHQ: +11.7% a year, volatility 16.7%WTW: +7.5% a year, volatility 24.0%SDY: +8.1% a year, volatility 14.0%XLU: +8.2% a year, volatility 17.4%EWJ: +9.3% a year, volatility 18.7%RY: +17.5% a year, volatility 18.2%BUFR: +9.8% a year, volatility 10.5%VOT: +3.3% a year, volatility 21.7%RWL: +13.7% a year, volatility 14.4%ORLY: +15.8% a year, volatility 23.4%DBEF: +12.9% a year, volatility 13.8%CMS: +6.1% a year, volatility 19.1%WELL: +27.0% a year, volatility 23.8%JQUA: +13.5% a year, volatility 15.7%LNT: +7.6% a year, volatility 19.8%XLP: +7.6% a year, volatility 13.8%DIVO: +10.9% a year, volatility 11.9%IQLT: +7.6% a year, volatility 16.5%SGOV: +3.8% a year, volatility 0.3%ACT: +20.7% a year, volatility 24.4%EMA: +5.9% a year, volatility 24.5%QYLD: +8.2% a year, volatility 15.0%EFG: +3.2% a year, volatility 18.5%SCI: +7.4% a year, volatility 25.2%FLTW: +21.3% a year, volatility 24.4%IDA: +9.4% a year, volatility 19.2%PLD: +0.4% a year, volatility 27.2%SPY (S&P 500): +12.5% a year, volatility 17.2%EGP: +4.3% a year, volatility 23.3%LXP: +1.5% a year, volatility 25.2%TRNO: +1.1% a year, volatility 24.9%AMZN: +8.5% a year, volatility 36.6%FR: +1.8% a year, volatility 23.1%DLR: +5.2% a year, volatility 29.4%PSTL: +9.3% a year, volatility 23.1%EXPD: +11.1% a year, volatility 27.1%KIM: +5.2% a year, volatility 25.1%PECO: +8.2% a year, volatility 22.3%SPG: +13.8% a year, volatility 25.9%VNQ: +0.6% a year, volatility 18.9%BRK-A: +13.5% a year, volatility 17.2%LIN: +11.7% a year, volatility 20.9%RSG: +14.1% a year, volatility 18.6%WM: +9.5% a year, volatility 19.3%DGRO: +11.1% a year, volatility 13.7%ICE: +5.9% a year, volatility 21.8%MSFT: +11.9% a year, volatility 28.2%IAGG: +1.2% a year, volatility 4.5%CAH: +41.7% a year, volatility 24.7%PLDSPY (S&P 500)EGPLXPAMZNDLRPSTLKIMPECOVNQBRK-AIAGGCAH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than PLD?

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

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

Screen the whole market against PLD for any period in BetterThanSPYOpen these 21 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with PLD?lower diversifies moreExpenseper year
PLDPrologis, Inc. · this page
+0.4%27.2%0.15−43.3%+218%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.5%17.2%0.78−33.7%+316%0.690.09%
Popular alternativesbest 6 shownThe investments people most often weigh against PLD. 7 of 14 passed at least one test.
EGPEastGroup Properties, Inc. · Industrial REITs
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+4.3%23.3%0.30−38.1%+286%0.89—
LXPLXP Industrial Trust · Industrial REITs
Higher return, lower volatilityHigher return in most periods+1.5%25.2%0.19−47.2%+103%0.70—
TRNOTerreno Realty Corporation · Industrial REITs
Higher return in most periodsSmaller losses in recent crashes+1.1%24.9%0.17−39.1%+218%0.91—
AMZNAmazon.com, Inc. · E-Commerce
Higher return in most periods+8.5%36.6%0.41−56.1%+498%0.41—
FRFirst Industrial Realty Trust, Inc. · Industrial REITs
Higher return, lower volatility+1.8%23.1%0.19−41.1%+168%0.93—
DLRDigital Realty Trust, Inc. · Data Center REITs
Higher return, similar volatility+5.2%29.4%0.32−48.5%+148%0.45—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Industrial REITs and the categories next to it (Freight & Logistics, Net Lease REITs, US REITs, Retail REITs), plus PLD's specific themes. 45 of 83 passed at least one test.
PSTLPostal Realty Trust, Inc. · Industrial REITs
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+9.3%23.1%0.50−29.9%—0.51—
EXPDExpeditors International of Washington, Inc. · Freight & Logistics
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+11.1%27.1%0.53−35.6%+338%0.47—
KIMKimco Realty Corporation · Shopping Centers
Higher return, lower volatilityHigher return in most periods+5.2%25.1%0.33−66.0%+35.3%0.68—
PECOPhillips Edison & Co. · Retail REITs
Higher return, lower volatilityHigher Sharpe, smaller worst decline+8.2%22.3%0.47−23.1%—0.49—
SPGSimon Property Group, Inc. · Retail REITs
Higher return, similar volatilityHigher return in most periods+13.8%25.9%0.63−75.3%+78.8%0.66—
VNQVanguard Real Estate ETF · US REITs
Similar return, lower volatilityHigher return in most periods+0.6%18.9%0.13−42.4%+64.9%0.840.13%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,769 of 3,553 passed at least one test.
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%0.49—
LINLinde plc · Chemicals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+11.7%20.9%0.64−32.6%+404%0.47—
RSGRepublic Services, Inc. · Waste Management
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+14.1%18.6%0.80−34.0%+461%0.33—
WMWaste Management, Inc. · Waste Management
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+9.5%19.3%0.57−30.1%+357%0.40—
DGROiShares Core Dividend Growth ETF · Dividend Growth
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+11.1%13.7%0.84−35.1%+270%0.730.08%
ICEIntercontinental Exchange, Inc. · Capital Markets
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+5.9%21.8%0.37−34.3%+249%0.62—
MSFTMicrosoft Corporation · Software
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+11.9%28.2%0.54−37.1%+862%0.38—
IAGGiShares Core International Aggregate Bond ETF · International Bonds
Similar return, lower volatilityHigher Sharpe, smaller worst decline+1.2%4.5%0.28−13.9%+21.7%0.570.07%
What these numbers mean for PLD
Annual return
PLD returned 0.4% 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 $10,200. 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
PLD's volatility over the past 5 years was 27.2%, 1.6 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, PLD's return lands within 27.2% 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
PLD's Sharpe ratio over the past 5 years was 0.15, against 0.78 for the S&P 500, so PLD 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
PLD's worst fall from a peak to a low over the past 10 years was 43.3%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 43.3% fall takes a 76.4% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, PLD's monthly returns had a correlation of 0.69 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 PLD instead: the lower it is, the more that option would diversify a PLD holding. Guide: Correlation and diversification →
Show all 1,027 stocks and funds worth at least $500 million that earned more than PLD 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 PLDExpense
1
BRK-ABerkshire Hathaway Inc. · Insurance
Whole market+13.5%17.2%0.83−30.4%+281%0.49—
2
LINLinde plc · Chemicals
Whole market+11.7%20.9%0.64−32.6%+404%0.47—
3
RSGRepublic Services, Inc. · Waste Management
Whole market+14.1%18.6%0.80−34.0%+461%0.33—
4
WMWaste Management, Inc. · Waste Management
Whole market+9.5%19.3%0.57−30.1%+357%0.40—
5
DGROiShares Core Dividend Growth ETF · Dividend Growth
Whole market+11.1%13.7%0.84−35.1%+270%0.730.08%
6
ICEIntercontinental Exchange, Inc. · Capital Markets
Whole market+5.9%21.8%0.37−34.3%+249%0.62—
7
WCNWaste Connections, Inc. · Waste Management
Whole market+7.4%20.4%0.45−31.6%+299%0.51—
8
MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value
Whole market+12.8%13.4%0.96−35.4%+247%0.660.05%
9
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.4%17.5%0.71−35.0%+298%0.690.03%
10
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.6%16.9%0.79−34.0%+319%0.680.03%
11
IOOiShares Global 100 ETF · Global Equity
Whole market+15.6%17.2%0.94−31.4%+357%0.650.40%
12
WMTWalmart Inc. · Discount Retail
Whole market+21.1%22.6%0.97−25.7%+521%0.46—
13
MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity
Whole market+9.5%18.4%0.59−33.3%+278%0.720.46%
14
JNJJohnson & Johnson · Pharmaceuticals
Whole market+13.5%18.0%0.80−27.4%+209%0.40—
15
VVisa Inc. · Payment Processing
Whole market+13.2%22.9%0.66−36.4%+435%0.48—
16
KOThe Coca-Cola Company · Nonalcoholic Beverages
Whole market+15.2%16.8%0.93−37.0%+205%0.46—
17
LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity
Whole market+16.9%11.1%1.48−32.4%+194%0.610.40%
18
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+692%0.65—
19
VXUSVanguard Total International Stock ETF · International Equity
Whole market+8.0%16.4%0.56−36.0%+137%0.610.05%
20
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.2%23.0%0.69−35.1%+531%0.560.18%
21
NVSNovartis AG · Pharmaceuticals
Whole market+17.4%20.7%0.89−26.8%+234%0.39—
22
MCKMcKesson Corporation · Health Care Distribution
Whole market+37.8%25.1%1.41−38.1%+582%0.25—
23
AMGNAmgen Inc. · Biotechnology
Whole market+20.1%24.9%0.86−24.9%+280%0.33—
24
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+202%0.24—
25
ILCViShares Morningstar Value ETF · US Large-Cap Value
Whole market+12.7%14.1%0.92−35.5%+222%0.730.04%
26
VEAVanguard FTSE Developed Markets ETF · Developed International Equity
Whole market+9.1%16.9%0.60−35.8%+152%0.650.03%
27
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.8%25.7%0.90−30.3%+849%0.07—
28
PTNQPacer Trendpilot 100 ETF · Tactical Asset Allocation
Whole market+9.4%14.2%0.70−28.1%+292%0.400.65%
29
EQLALPS Equal Sector Weight ETF · US Large-Cap Equity
Whole market+13.4%14.5%0.94−34.2%+385%0.740.19%
30
SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity
Whole market+10.2%14.4%0.75−33.4%+256%0.650.06%
31
LMTLockheed Martin Corporation · Aerospace & Defense
Whole market+12.5%24.4%0.61−36.7%+226%0.11—
32
CORCencora, Inc. · Health Care Distribution
Whole market+23.6%22.8%1.05−32.4%+403%0.34—
33
MNSTMonster Beverage Corporation · Nonalcoholic Beverages
Whole market+17.4%24.9%0.77−30.4%+278%0.35—
34
CMECME Group Inc. · Capital Markets
Whole market+11.6%20.8%0.63−37.4%+334%0.32—
35
VTVanguard Total World Stock ETF · Global Equity
Whole market+10.1%16.2%0.68−34.2%+220%0.690.06%
36
VWOVanguard FTSE Emerging Markets ETF · Emerging Markets Equity
Whole market+5.0%17.5%0.36−36.4%+95.9%0.420.06%
37
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+15.2%23.6%0.72−32.8%+639%0.42—
38
PJULInnovator U.S. Equity Power Buffer ETF · US Equity Buffer
Whole market+10.4%8.6%1.20−18.2%—0.620.79%
39
GSKGSK plc · Pharmaceuticals
Whole market+9.5%24.5%0.50−37.6%+101%0.42—
40
DUKDuke Energy Corporation · Electric Utilities
Whole market+7.9%18.1%0.52−37.4%+140%0.46—
41
AEPAmerican Electric Power Company, Inc. · Electric Utilities
Whole market+12.8%20.2%0.70−32.9%+192%0.48—
42
FJANFT Vest U.S. Equity Buffer ETF - January · US Equity Buffer
Whole market+11.0%10.5%1.04−13.6%—0.630.85%
43
POCTInnovator U.S. Equity Power Buffer ETF · Moderate Buffer
Whole market+9.9%8.0%1.22−18.8%—0.600.79%
44
FASTFastenal Company · Industrial Distribution
Whole market+16.2%24.6%0.74−30.7%+582%0.45—
45
SCHGSchwab U.S. Large-Cap Growth ETF · US Large-Cap Growth
Whole market+12.8%22.5%0.65−34.5%+438%0.600.04%
46
CLColgate-Palmolive Company · Household & Personal Products
Whole market+7.8%19.3%0.48−29.0%+73.7%0.27—
47
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Whole market+14.4%17.5%0.86−34.7%—0.660.26%
48
MRSHMarsh & McLennan Companies, Inc. · Insurance Brokers
Whole market+4.8%21.0%0.33−35.8%+261%0.49—
49
DIAState Street SPDR Dow Jones Industrial Average ETF Trust · US Large-Cap Equity
Whole market+10.0%14.8%0.72−36.7%+251%0.710.16%
50
EDConsolidated Edison, Inc. · Electric Utilities
Whole market+12.7%18.9%0.73−30.9%+123%0.29—
51
CPCanadian Pacific Kansas City Ltd. · Railroads
Whole market+4.4%24.1%0.30−33.7%+240%0.70—
52
ATOAtmos Energy Corporation · Gas Utilities
Whole market+15.9%18.5%0.90−32.9%+207%0.51—
53
DOCTFT Vest U.S. Equity Deep Buffer ETF - October · Deep Buffer
Whole market+8.2%7.4%1.10−9.9%—0.580.85%
54
XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity
Whole market+8.4%15.3%0.60−28.4%+208%0.570.08%
55
CHTChunghwa Telecom Co., Ltd. · Integrated Telecommunications
Whole market+8.2%13.3%0.66−23.8%+104%0.37—
56
DFIVDimensional - International Value ETF · International Large-Cap Value
Whole market+14.8%16.4%0.93−25.4%—0.560.27%
57
XELXcel Energy Inc. · Electric Utilities
Whole market+7.2%20.9%0.44−34.4%+164%0.35—
58
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.1%20.9%0.91−30.9%+485%0.450.13%
59
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Whole market+13.9%16.9%0.86−19.5%—0.670.15%
60
VGKVanguard FTSE Europe ETF · European Equity
Whole market+8.2%17.9%0.53−37.2%+150%0.640.06%
61
PSAPublic Storage · Self-Storage REITs
Whole market+3.4%24.2%0.26−37.9%+115%0.74—
62
HDViShares Core High Dividend ETF · High Dividend Yield
Whole market+13.3%13.0%1.03−37.0%+177%0.550.08%
63
FTSFortis Inc. · Electric Utilities
Whole market+9.5%16.5%0.63−34.3%+162%0.43—
64
WECWEC Energy Group, Inc. · Electric Utilities
Whole market+7.7%19.1%0.49−32.3%+168%0.39—
65
NINiSource Inc · Gas Utilities
Whole market+15.5%20.3%0.81−30.9%+166%0.40—
66
DGXQuest Diagnostics Incorporated · Medical Diagnostics
Whole market+13.0%22.5%0.66−36.6%+256%0.30—
67
DFATDimensional - US Targeted Value ETF · US Small-Cap Value
Whole market+9.7%21.0%0.55−26.1%—0.640.33%
68
DGRWWisdomTree U.S. Quality Dividend Growth Fund · US Dividend Equity
Whole market+11.7%14.0%0.87−32.0%+271%0.730.28%
69
USMViShares MSCI USA Min Vol Factor ETF · US Low-Volatility Equity
Whole market+7.7%12.3%0.66−33.1%+179%0.700.15%
70
DFASDimensional - US Small Cap ETF · Systematic Core Equity
Whole market+7.2%20.5%0.44−26.1%—0.670.31%
71
AEEAmeren Corporation · Electric Utilities
Whole market+8.2%19.4%0.50−29.1%+199%0.40—
72
DTMDT Midstream, Inc. · Oil & Gas Midstream
Whole market+25.0%25.2%1.02−23.6%—0.21—
73
AVEMAvantis Emerging Markets Equity ETF · Emerging Markets Equity
Whole market+9.0%19.5%0.54−36.0%—0.410.33%
74
SPHQInvesco S&P 500 Quality ETF · US Quality Equity
Whole market+11.7%16.7%0.75−31.6%+295%0.640.20%
75
WTWWillis Towers Watson Public Limited Company · Insurance Brokers
Whole market+7.5%24.0%0.42−32.9%+200%0.33—
76
SDYState Street SPDR S&P Dividend ETF · US Dividend Equity
Whole market+8.1%14.0%0.63−36.7%+163%0.680.35%
77
XLUState Street Utilities Select Sector SPDR ETF · Utilities Equity
Whole market+8.2%17.4%0.54−36.0%+144%0.490.08%
78
EWJiShares MSCI Japan ETF · Japan Equity
Whole market+9.3%18.7%0.57−33.1%+129%0.540.49%
79
RYRoyal Bank of Canada · Banks
Whole market+17.5%18.2%0.98−40.0%+361%0.47—
80
BUFRFT Vest Laddered Buffer ETF · Buffered Equity
Whole market+9.8%10.5%0.95−13.7%—0.660.10%
81
VOTVanguard Morningstar Mid-Cap Growth ETF · Mid-Cap Growth
Whole market+3.3%21.7%0.26−37.2%+198%0.650.05%
82
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity
Whole market+13.7%14.4%0.97−36.1%+287%0.720.39%
83
ORLYO'Reilly Automotive, Inc. · Specialty Retail
Whole market+15.8%23.4%0.75−42.0%+394%0.25—
84
DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity
Whole market+12.9%13.8%0.95−32.5%+204%0.670.35%
85
CMSCMS Energy Corporation · Electric Utilities
Whole market+6.1%19.1%0.41−29.6%+129%0.37—
86
WELLWelltower Inc. · Healthcare REITs
Whole market+27.0%23.8%1.13−63.3%+378%0.49—
87
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Whole market+13.5%15.7%0.89−32.9%—0.700.12%
88
LNTAlliant Energy Corporation · Electric Utilities
Whole market+7.6%19.8%0.47−33.5%+158%0.40—
89
XLPState Street Consumer Staples Select Sector SPDR ETF · Consumer Staples
Whole market+7.6%13.8%0.60−24.5%+124%0.600.08%
90
DIVOAmplify CWP Enhanced Dividend Income ETF · Covered Call Income
Whole market+10.9%11.9%0.94−30.0%—0.680.56%
91
IQLTiShares MSCI Intl Quality Factor ETF · International Equity
Whole market+7.6%16.5%0.53−32.2%+157%0.670.30%
92
SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bills
Whole market+3.8%0.3%13.25−0.3%—0.010.09%
93
ACTEnact Holdings Inc. · Insurance
Whole market+20.7%24.4%0.90−20.2%—0.42—
94
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+41.7%24.7%1.54−46.1%+345%0.25—
95
EMAEmera Incorporated · Electric Utilities
Whole market+5.9%24.5%0.36−35.9%+119%0.56—
96
QYLDGlobal X - Nasdaq 100 Covered Call ETF · Covered Call Income
Whole market+8.2%15.0%0.60−24.7%+151%0.610.60%
97
EFGiShares MSCI EAFE Growth ETF · International Growth Equity
Whole market+3.2%18.5%0.26−35.8%+110%0.660.34%
98
SCIService Corporation International · Death Care
Whole market+7.4%25.2%0.41−34.0%+276%0.56—
99
FLTWFranklin FTSE Taiwan ETF · International Equity
Whole market+21.3%24.4%0.92−38.0%—0.380.19%
100
IDAIDACORP, Inc. · Electric Utilities
Whole market+9.4%19.2%0.57−34.3%+149%0.35—

PLD against its popular alternatives

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

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

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

10.0%20.0%30.0%40.0%50.0%60.0%−25.0%−20.0%−15.0%−10.0%−5.0%0.0%5.0%10.0%15.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityPLD: 0.4% a year, volatility 27.2%SPY (S&P 500): 12.5% a year, volatility 17.2%EGP: 4.3% a year, volatility 23.3%TRNO: 1.1% a year, volatility 24.9%LXP: 1.5% a year, volatility 25.2%FR: 1.8% a year, volatility 23.1%ILPT: −21.8% a year, volatility 57.7%UPS: −8.8% a year, volatility 28.9%COLD: −10.1% a year, volatility 33.5%IIPR: −19.5% a year, volatility 41.5%STAG: 0.4% a year, volatility 23.5%REXR: −8.0% a year, volatility 27.7%GXO: −10.6% a year, volatility 42.2%AMZN: 8.5% a year, volatility 36.6%FDX: 12.3% a year, volatility 32.8%DLR: 5.3% a year, volatility 29.4%PLDSPY (S&P 500)EGPTRNOLXPFRILPTUPSCOLDIIPRREXRGXOAMZNFDXDLR10.0%20.0%30.0%40.0%50.0%60.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityPLD: 0.4% a year, volatility 27.2%SPY (S&P 500): 12.5% a year, volatility 17.2%EGP: 4.3% a year, volatility 23.3%TRNO: 1.1% a year, volatility 24.9%LXP: 1.5% a year, volatility 25.2%FR: 1.8% a year, volatility 23.1%ILPT: −21.8% a year, volatility 57.7%UPS: −8.8% a year, volatility 28.9%COLD: −10.1% a year, volatility 33.5%IIPR: −19.5% a year, volatility 41.5%STAG: 0.4% a year, volatility 23.5%REXR: −8.0% a year, volatility 27.7%GXO: −10.6% a year, volatility 42.2%AMZN: 8.5% a year, volatility 36.6%FDX: 12.3% a year, volatility 32.8%DLR: 5.3% a year, volatility 29.4%PLDSPY (S&P 500)EGPTRNOFRILPTUPSCOLDIIPRREXRGXOAMZNFDXDLR
All figures
InvestmentAnnual returnVolatility
SPY S&P 500State Street SPDR S&P 500 ETF+12.5%17.2%
FDX FedEx Corporation+12.3%32.8%
AMZN Amazon.com, Inc.+8.5%36.6%
DLR Digital Realty Trust, Inc.+5.3%29.4%
EGP EastGroup Properties, Inc.+4.3%23.3%
FR First Industrial Realty Trust, Inc.+1.8%23.1%
LXP LXP Industrial Trust+1.5%25.2%
TRNO Terreno Realty Corporation+1.1%24.9%
STAG STAG Industrial, Inc.+0.4%23.5%
PLD This pagePrologis, Inc.+0.4%27.2%
REXR Rexford Industrial Realty, Inc.−8.0%27.7%
UPS United Parcel Service, Inc.−8.8%28.9%
COLD Americold Realty Trust, Inc.−10.1%33.5%
GXO GXO Logistics, Inc.−10.6%42.2%
IIPR Innovative Industrial Properties, Inc.−19.5%41.5%
ILPT Industrial Logistics Properties Trust−21.8%57.7%
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Has PLD consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than PLD 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
PLD Prologis, Inc. (this page)—−6.8%−11.8%−9.1%+0.5%+3.7%+38.4%+1.9%+218%27.2%0.15−43.3%—$120B—
AMZN QualifiedAmazon.com, Inc.5/5 short3/3 longAll-weather−1.8%+2.3%−1.9%+10.5%+14.9%+97.8%+50.1%+498%36.6%0.41−56.1%—$2.7T—
EGP QualifiedEastGroup Properties, Inc.5/5 short3/3 longAll-weather+0.5%−5.5%+2.6%+15.5%+16.0%+44.1%+23.7%+286%23.3%0.30−38.1%—$11B—
TRNO QualifiedTerreno Realty Corporation5/5 short2/3 long−0.3%−9.4%+1.1%+14.0%+11.0%+40.6%+5.8%+218%24.9%0.17−39.1%—$7.2B—
FDX QualifiedFedEx Corporation5/5 short2/3 long+2.7%−5.0%−1.8%+29.8%+59.7%+67.8%+78.3%+156%32.8%0.52−66.0%—$72B—
LXP QualifiedLXP Industrial Trust5/5 short2/3 long+0.4%−0.1%+25.2%+26.7%+34.1%+77.4%+7.7%+103%25.2%0.19−47.2%—$3.6B—
DLR REIT - SpecialtyDigital Realty Trust, Inc.2/5 short2/3 long−7.9%−3.5%−13.7%+12.5%+2.0%+59.3%+29.1%+148%29.4%0.32−48.5%—$63B—
FR REIT - IndustrialFirst Industrial Realty Trust, Inc.0/5 short2/3 long−9.9%−17.7%−11.3%−2.1%+2.6%+45.3%+9.1%+168%23.1%0.19−41.1%—$7.3B—
ILPT REIT - IndustrialIndustrial Logistics Properties Trust4/5 short1/3 long−5.3%−20.4%+0.4%+35.2%+25.3%+230%−70.8%—57.7%-0.14−93.8%—$478M—
UPS Integrated Freight & LogisticsUnited Parcel Service, Inc.5/5 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—
COLD REIT - IndustrialAmericold Realty Trust, Inc.5/5 short0/3 long−0.7%−5.6%+19.7%+15.5%+11.4%−36.0%−41.3%—33.5%-0.15−70.8%—$4.1B—
IIPR REIT - IndustrialInnovative Industrial Properties, Inc.5/5 short0/3 long−0.4%−9.3%+4.4%+22.4%+17.9%+7.5%−66.2%—41.5%-0.31−78.4%—$1.5B—
STAG REIT - IndustrialSTAG Industrial, Inc.4/5 short0/3 long−1.1%−10.6%−4.2%+2.1%−1.4%+28.3%+2.1%+144%23.5%0.14−45.1%—$7.0B—
REXR REIT - IndustrialRexford Industrial Realty, Inc.3/5 short0/3 long−4.0%−0.2%+2.5%−3.4%−11.3%−3.7%−34.2%+117%27.7%-0.17−58.7%—$8.3B—
LINE REIT - IndustrialLineage, Inc.3/5 short0/3 long−4.7%−17.5%+0.3%+3.5%−7.3%—————−61.7%—$8.0B—
GXO Integrated Freight & LogisticsGXO Logistics, Inc.2/5 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—
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How did PLD do year by year?

This table shows each investment's total return in every full calendar year since 1998, along with where PLD ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with PLD 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 PLD; gray means the two finished within a fraction of a point. The rank row places PLD among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of PLD2025202420232022202120202019201820172016201520142013201220112010200920082007200620052004200320022001200019991998
PLD This pagePrologis, Inc.—+25.1%−18.1%+21.6%−31.3%+72.3%+14.7%+55.9%−6.2%+25.9%+27.4%+3.6%+20.3%+4.3%+31.9%−6.4%+29.4%+15.6%−58.0%+1.6%+23.3%+26.8%+28.6%+27.0%+11.5%+7.4%+37.8%−3.1%−7.0%
Rank among alternativesTop quarter in 5 of 283 of 1610 of 158 of 156 of 151 of 146 of 144 of 149 of 126 of 128 of 116 of 116 of 118 of 105 of 107 of 95 of 85 of 86 of 83 of 84 of 82 of 83 of 75 of 74 of 74 of 72 of 74 of 63 of 6
SPY S&P 500State Street SPDR S&P 500 ETF13 of 28+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%
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%
EGP EastGroup Properties, Inc.11 of 28+14.8%−9.8%+27.7%−33.1%+68.4%+6.8%+48.3%+7.0%+23.3%+37.8%−8.5%+13.3%+11.8%+28.9%+8.1%+16.6%+14.6%−10.7%−18.4%+23.5%+23.3%+25.2%+35.9%+19.0%+11.8%+30.5%+8.9%−8.7%
TRNO Terreno Realty Corporation5 of 15+2.7%−2.8%+13.4%−31.6%+48.5%+10.4%+57.2%+2.9%+26.2%+29.7%+13.2%+19.9%+17.9%+5.8%−13.9%—————————————
FDX FedEx Corporation11 of 28+5.1%+13.5%+49.1%−31.6%+0.7%+74.3%−4.8%−34.7%+35.2%+26.1%−13.7%+21.4%+57.6%+10.5%−9.7%+12.1%+31.1%−27.7%−17.6%+5.4%+5.3%+46.4%+24.9%+4.8%+61.0%−2.4%−8.2%+46.0%
LXP LXP Industrial Trust10 of 28+29.7%−13.2%+4.3%−33.0%+52.3%+4.2%+34.9%−7.1%−4.2%+44.9%−21.2%+14.5%+3.2%+48.0%0.0%+38.5%+25.1%−62.3%−22.1%+14.7%−0.1%+18.9%+35.8%+10.7%+42.3%+41.9%−19.7%−12.3%
DLR Digital Realty Trust, Inc.13 of 21−10.1%+35.9%+39.9%−41.0%+30.7%+20.4%+16.5%−3.0%+18.7%+34.9%+20.2%+42.6%−23.5%+6.1%+35.4%+6.1%+58.8%−11.4%+15.7%+57.2%+77.9%———————
FR First Industrial Realty Trust, Inc.13 of 28+18.2%−2.0%+11.9%−25.4%+60.3%+4.2%+47.4%−5.6%+15.5%+30.6%+10.2%+20.4%+26.6%+37.6%+16.9%+67.6%−30.8%−75.7%−20.7%+30.1%+1.5%+29.5%+31.5%−1.9%−0.2%+34.6%+12.4%−20.0%
ILPT Industrial Logistics Properties Trust2 of 7+55.7%−21.6%+46.0%−86.5%+13.3%+10.7%+21.4%—————————————————————
UPS United Parcel Service, Inc.7 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%——
COLD Americold Realty Trust, Inc.1 of 7−36.2%−26.7%+10.1%−10.9%−9.9%+9.0%+40.6%—————————————————————
IIPR Innovative Industrial Properties, Inc.4 of 9−18.4%−28.5%+8.8%−59.0%+47.5%+151%+72.5%+45.0%+82.3%———————————————————
STAG STAG Industrial, Inc.8 of 14+13.3%−10.3%+26.6%−29.6%+59.1%+4.1%+33.2%−3.8%+20.6%+38.3%−19.6%+27.0%+20.2%+68.2%——————————————
REXR Rexford Industrial Realty, Inc.6 of 12+4.7%−28.5%+5.6%−31.2%+67.8%+9.7%+57.8%+3.2%+28.6%+45.6%+7.7%+23.0%————————————————
LINE Lineage, Inc.0 of 1−37.2%———————————————————————————
GXO GXO Logistics, Inc.1 of 4+21.0%−28.9%+43.3%−53.0%————————————————————————
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Risk and diversification

How PLD 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 PLD's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents PLD's five deepest drawdowns since it began trading in 1997, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

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

DuringPLD fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−84.7%−54.4%Oct 2007Mar 200917 monthsMay 20167.2 years
2022 bear market−43.3%+21.3%Apr 2022Apr 20253 yearsNot yet—
Covid crash−36.2%−31.0%Feb 2020Mar 20201 monthJul 20204 months
No named crash−23.6%+41.3%Sep 1998Dec 199915 monthsJun 20006 months
No named crash−23.0%−1.7%Feb 2007Aug 20076 monthsOct 20072 months

How did PLD do in stock market crashes?

This section measures how far PLD, 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 PLD.

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
PLD This pagePrologis, Inc.—−6.5%−42.1%−36.2%−17.9%−8.6%−18.4%−36.2%−4.2%−84.7%−17.1%
SPY S&P 500State Street SPDR S&P 500 ETF8 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
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%
EGP EastGroup Properties, Inc.7 of 10−5.7%−36.5%−38.1%−12.6%−8.5%−14.8%−25.0%−1.7%−56.6%−19.0%
TRNO Terreno Realty Corporation6 of 8−4.8%−37.3%−30.7%−13.5%−8.2%−10.4%−28.5%−5.4%——
FDX FedEx Corporation5 of 10−5.3%−45.3%−44.9%−38.1%−8.0%−27.0%−29.7%−3.3%−67.8%−30.0%
LXP LXP Industrial Trust6 of 10−3.6%−44.3%−30.9%−10.3%−6.2%−25.8%−33.8%−4.3%−88.0%−13.7%
DLR Digital Realty Trust, Inc.8 of 9−3.1%−45.7%−24.1%−14.6%−8.1%−8.4%−20.2%−1.7%−56.8%—
FR First Industrial Realty Trust, Inc.4 of 10−5.5%−32.1%−40.9%−14.8%−8.4%−15.8%−38.1%−6.0%−94.8%−21.5%
ILPT Industrial Logistics Properties Trust1 of 5−12.7%−81.7%−44.0%−18.7%−3.0%—————
UPS United Parcel Service, Inc.7 of 10−1.5%−29.8%−18.5%−23.7%−8.7%−16.4%−16.4%−1.6%−47.9%−26.5%
COLD Americold Realty Trust, Inc.5 of 5−3.5%−28.2%−35.6%−12.9%−2.8%—————
IIPR Innovative Industrial Properties, Inc.1 of 5−7.5%−62.2%−56.5%−20.8%−1.8%—————
STAG STAG Industrial, Inc.3 of 7−6.2%−40.1%−43.6%−15.6%−8.6%−26.9%−22.3%———
REXR Rexford Industrial Realty, Inc.3 of 6−7.1%−38.9%−36.4%−14.4%−8.5%−10.5%————
GXO GXO Logistics, Inc.0 of 2−11.4%−62.5%————————
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How closely does PLD 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 PLD 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 PLD's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
PLD This pagePrologis, Inc.103%122%0.841.04
DLR Digital Realty Trust, Inc.64%64%1.000.60
EGP EastGroup Properties, Inc.91%93%0.980.88
AMZN Amazon.com, Inc.134%139%0.961.31
TRNO Terreno Realty Corporation86%92%0.930.81
FR First Industrial Realty Trust, Inc.93%113%0.820.96
STAG STAG Industrial, Inc.85%110%0.770.94
LXP LXP Industrial Trust78%106%0.740.82
REXR Rexford Industrial Realty, Inc.90%127%0.710.93
FDX FedEx Corporation116%166%0.701.29
UPS United Parcel Service, Inc.85%149%0.571.08
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What diversifies PLD?

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

ETFs

InvestmentCorrelation5Y returnSharpe202420222018201120081999199880/20 mix volatility80/20 mix annual return
PLD Prologis, Inc. (this page)1.00+1.9%0.15−18.1%−31.3%−6.2%−6.4%−58.0%−3.1%−7.0%29.9%+3.7%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.29+225%1.34+29.8%+6.0%−19.8%−16.1%−20.8%——24.8%+8.8%
MLPX EnergyGlobal X - MLP & Energy Infrastructure ETF0.37+138%0.98+42.9%+21.5%−15.5%————25.5%+7.6%
SMH TechnologyVanEck Semiconductor ETF0.41+304%0.94+39.1%−33.5%−9.1%+6.8%−44.7%——27.5%+10.8%
XLE EnergyState Street Energy Select Sector SPDR ETF0.23+178%0.94+5.6%+64.4%−18.2%+2.8%−39.0%+18.1%—25.6%+8.4%
GLD CommoditiesSPDR Gold Shares0.22+120%0.93+26.7%−0.8%−1.9%+9.6%+4.9%——24.9%+7.3%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.45+130%0.91+45.8%−10.4%−0.9%————26.0%+7.7%
AMLP EnergyAlerian MLP ETF0.33+114%0.90+22.8%+25.5%−12.6%+10.2%———25.4%+7.3%
EUFN InternationaliShares MSCI Europe Financials ETF0.49+130%0.88+17.2%−8.8%−23.1%−26.6%———26.2%+7.6%

Stocks

InvestmentCorrelation5Y returnSharpe202420222018201120081999199880/20 mix volatility80/20 mix annual return
PLD Prologis, Inc. (this page)1.00+1.9%0.15−18.1%−31.3%−6.2%−6.4%−58.0%−3.1%−7.0%29.9%+3.7%
CAH Medical - DistributionCardinal Health, Inc.0.25+471%1.54+19.0%+54.1%−24.5%+8.1%−39.6%−36.8%+51.7%25.8%+10.8%
CLS Hardware, Equipment & PartsCelestica Inc.0.31+2,780%1.43+215%+1.3%−16.3%−24.4%−20.5%+350%—29.7%+22.5%
MCK Medical - DistributionMcKesson Corporation0.25+397%1.41+23.7%+51.8%−28.4%+11.8%−40.4%−71.3%+46.9%25.6%+10.3%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.37+1,452%1.41+107%+17.0%+0.8%−17.0%−15.2%−58.7%−9.5%28.5%+18.8%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.19+660%1.39−4.0%+86.6%−8.2%————25.9%+12.9%
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Common questions

What was PLD's worst drawdown?

PLD's deepest decline since it began trading in 1997 was 84.7%, from October 2007 to March 2009. It took about seven years from the low to climb back to its old high.

What were PLD's best and worst years?

Over 28 full calendar years, PLD's best year was 2021, when it returned 72.3%. Its worst was 2008, with a return of -58.0%.

Is there a better investment than PLD?

Among PLD's popular alternatives, EGP, LXP and FR earned more than PLD with less volatility over the past 5 years. EGP returned 4.3% a year at 23.3% volatility, against 0.4% a year at 27.2%. Looking beyond its popular alternatives, PSTL (industrial reits) and KIM (shopping centers) earned more than PLD with less volatility over the past 5 years. PSTL returned 9.3% a year at 23.1% volatility, against 0.4% a year at 27.2%.

Is PLD more volatile than the S&P 500?

Yes. PLD's volatility over the past 5 years was 27.2%, 1.6 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, PLD's return lands within 27.2% 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 PLD's Sharpe ratio?

PLD's Sharpe ratio over the past 5 years was 0.15, against 0.78 for the S&P 500, so PLD 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 PLD with the S&P 500?

Over the past 5 years, PLD's monthly returns had a correlation of 0.69 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 PLD instead: the lower it is, the more that option would diversify a PLD holding.

What are the best alternatives to PLD?

Of the 15 popular alternatives we compared, five outperformed PLD in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: AMZN, EGP and TRNO.

Did PLD outperform the S&P 500?

PLD finished ahead of the S&P 500 (SPY) in 15 of 28 full calendar years. In 2025, it returned +25.1%, against +17.7% for the index.

How did PLD do in stock market crashes?

PLD fell less than the S&P 500 (SPY) in two of the ten major crashes it has traded through, and further in eight. The clearest case was the 2008 financial crisis, when PLD fell 84.7% and the S&P 500 fell 55.2%.

What diversifies PLD?

These had a low correlation with PLD over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.29), MLPX (correlation 0.37) and SMH (correlation 0.41); among large stocks, CAH (correlation 0.25), CLS (correlation 0.31) and MCK (correlation 0.25). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to PLD

Other stocks and ETFs