Relative Intelligence · Banks
How State Street (STT) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on STT alone. It places STT (State Street Corporation) against 19 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where STT stands in the market, and of the alternatives worth a closer look.
Period covered: STT's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 22, 2026.
Data as of October 22, 2026. Full tables and charts read best on a larger screen.
This page answers the following questions about STT
Key findings
Not AI-generatedThese key findings are generated by our proprietary relative intelligence engine, directly from the data on this page.
- Right nowOver the past 3 months, STT fell 8.9% while the S&P 500 rose 2.5%. Not every peer went the same way. Over the past 3 months, BLK (BlackRock) rose 8.2% and APAM (Artisan Partners Asset Management) fell 10.0%. Consistency ↓
- Stock or market?The weakness is STT's own: it fell 8.9% over the past 3 months while the banks ETF XLF (State Street Financial Select Sector SPDR ETF) rose 1.4%. The S&P 500 rose 2.5%. Its bank peers did not move as one over the past 3 months: BLK (BlackRock) rose 8.2%, while APAM (Artisan Partners Asset Management) fell 10.0%.
- Past 1 to 3 yearsSTT has run far ahead of the market, rising 51.8% over the past year against 15.6% for the S&P 500 and 16.9% for the Nasdaq 100. The same gap shows up over 3 years (186% against 88.4%). STT finished ahead of the S&P 500 in both 2024 and 2025. By year ↓
- Long termSTT turned $10,000 into $31,300 over the past decade, against $41,600 in the S&P 500. Even so, the past 5 years have been the better stretch: STT rose 97.6% against 80.3% for the S&P 500, after trailing over the decade. Growth of $10,000 ↓
- In a crashAcross seven sell-offs, STT has typically fallen 1.6 times as far as the S&P 500. Crash tests ↓
- DiversificationSTT is more of the same, not a cushion: a correlation of 0.73 with the S&P 500 over 5 years and 0.75 with the total US market, more closely than 99% of stocks worth at least $300 million. Over 10 years, STT's beta versus the S&P 500 was 1.48: in the S&P 500's rising months it gained 1.3 times as much as the index, and in falling months it lost 1.7 times as much. Market capture ↓
- Better options
- Popular alternatives
- JPM (JPMorgan Chase & Co.) and BNY (Bank of New York Mellon) earned more than STT with less volatility over the past 5 years. JPM returned 17.3% a year at 24.3% volatility, against 14.6% a year at 29.9%.
- Nearby categories and themes
- RY (Royal Bank of Canada, banks) and TD (Toronto-Dominion Bank, banks) earned more than STT with less volatility over the past 5 years. RY returned 17.5% a year at 18.2% volatility, against 14.6% a year at 29.9%.
- Whole market
- 144 of the 3,641 stocks and funds worth at least $500 million earned more than STT with less volatility over the past 5 years, among them AAPL (Apple), WMT (Walmart) and JPM (JPMorgan Chase & Co.).
How much would $10,000 in STT have grown?
This chart tracks a hypothetical $10,000 investment in STT over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of STT over the same span and STT'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 STT at the end of September 1997 would have grown to $96,326 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- Six of the eight other investments on the chart ended ahead of STT, and SEIC finished highest, at $491,181.
Choose a period
From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 542 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of STT; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- SEIC$491,181+4,812% total · +14.4% a year
- SPGI$384,837+3,748% total · +13.4% a year
- JPM$189,407+1,794% total · +10.7% a year
- SCHW$171,783+1,618% total · +10.3% a year
- AB$152,318+1,423% total · +9.8% a year
- SPY (S&P 500)$132,907+1,229% total · +9.3% a year
- BNY$121,131+1,111% total · +9.0% a year
- STT$96,326+863% total · +8.1% a year
- BEN$44,732+347% total · +5.3% a year
- C$11,853+18.5% total · +0.6% 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. 552 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of STT; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- CAH$49,682+397% total · +37.8% a year
- BNY$31,954+220% total · +26.2% a year
- ABBV$29,134+191% total · +23.8% a year
- EWT$26,805+168% total · +21.8% a year
- PM$25,119+151% total · +20.2% a year
- AMG$24,224+142% total · +19.4% a year
- STT$23,984+140% total · +19.1% a year
- JPM$22,905+129% total · +18.0% a year
- C$21,876+119% total · +16.9% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
STT 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.
- STT's deepest decline since it began trading in 1986 was 82.3%, from January 2008 to January 2009. It took about six years from the low to climb back to its old high.
- Over 29 full calendar years, STT's best was 1997, when it returned 81.6%, and its worst was 2008, when it lost 50.7%. It lost money in nine of those years.
- STT is 13.1% below its all-time high.
The company
- Market value
- $46B
- Industry
- Asset Management
- Price history from
- October 1986
Returns
- Past 1 year
- +51.8%total return
- Past 3 years
- +186%+41.9% a year
- Past 5 years
- +97.6%+14.6% a year
- Past 10 years
- +213%+12.1% a year
- Best calendar year
- +81.6%1997
- Worst calendar year
- −50.7%2008
- Losing years
- 9 of 29full calendar years
Risk
- Volatility
- 29.9%typical yearly swing, 5 years
- Sharpe ratio
- 0.61return per unit of risk, 5 years
- Worst decline ever
- −82.3%Jan 2008 to Jan 2009
- From its all-time high
- −13.1%below the peak
STT against the whole market
Where STT ranks among every stock and fund, and what across the market has done better.
How does STT rank among all stocks?
This section ranks STT 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 STT stacks up against its peers, these rankings show where it stands in the market as a whole.
- STT's 3-year return ranks in the top 15% of the 3,016 stocks worth at least $300 million with 3 years of history.
Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.
| Measure | STT | Rank | Standing |
|---|---|---|---|
| 1-year return | +51.8% | 531 of 3,282 | top 16% |
| 3-year return | +186% | 443 of 3,016 | top 15% |
| 5-year return | +97.6% | 708 of 2,897 | top 24% |
| 10-year return | +213% | 826 of 2,201 | top 38% |
| Volatility, 5 years | 29.9% | 707 of 2,897 | top 24% |
| Sharpe ratio, 5 years | 0.61 | 664 of 2,897 | top 23% |
| Worst decline, past 10 years | −59.6% | 863 of 2,184 | top 40% |
What has beaten STT 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). STT sits where the dashed lines cross. Anything in the green box above and to the left earned more than STT 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.
- 90 stocks and 54 ETFs worth at least $500 million sit in the green region: each earned more than STT over the past 5 years with smaller price swings. That is 4% of the 3,641 screened.
- Among those with at least half STT's swings, CAH has the best return for its risk: 41.7% a year at 24.7% volatility, 17% less than STT's 29.9%, and a Sharpe ratio (return above cash per unit of volatility) of 1.54 against 0.61 for STT.
- Among STT's popular alternatives, BNY and JPM are in the region. BNY earned 22.8% a year against 14.6% a year for STT, at 24.4% volatility, 18% less than STT's 29.9%.
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 STT; faint dots are 89 more of the 144 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 STT?
Investments that beat STT over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among STT's popular alternatives, JPM and BNY earned more than STT with less volatility over the past 5 years. JPM returned 17.3% a year at 24.3% volatility, against 14.6% a year at 29.9%.
- Looking beyond its popular alternatives, RY (banks) and TD (banks) earned more than STT with less volatility over the past 5 years. RY returned 17.5% a year at 18.2% volatility, against 14.6% a year at 29.9%.
- Across the whole market, 144 of the 3,641 stocks and funds worth at least $500 million earned more than STT with less volatility over the past 5 years, among them AAPL, WMT and JPM.
How this works
The table below lists investments that beat STT 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 STT'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 STT 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 STT'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× STT's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than STT'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 STT?lower diversifies more | Expenseper year | |||
| STTState Street Corporation · this page | +14.6% | 29.9% | 0.61 | −59.6% | +213% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.5% | 17.2% | 0.78 | −33.7% | +316% | 0.73 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against STT. 7 of 19 passed at least one test. | |||||||||
 JPMJPMorgan Chase & Co. · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes | +17.3% | 24.3% | 0.78 | −43.6% | +534% | 0.77 | — | |
 BNYBank of New York Mellon Corp · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +22.8% | 24.4% | 0.97 | −50.5% | +332% | 0.86 | — | |
AMGAffiliated Managers Group, Inc. · Asset Management | Higher return, similar volatilityHigher return in most periods | +19.0% | 31.9% | 0.71 | −78.5% | +186% | 0.72 | — | |
 CMECME Group Inc. · Capital Markets | Smaller losses in recent crashes | +11.6% | 20.8% | 0.63 | −37.4% | +334% | 0.10 | — | |
 ICEIntercontinental Exchange, Inc. · Capital Markets | Smaller losses in recent crashes | +5.9% | 21.8% | 0.37 | −34.3% | +249% | 0.48 | — | |
 SPGIS&P Global Inc. · Financial Data | Smaller losses in recent crashes | +1.0% | 25.6% | 0.17 | −39.8% | +298% | 0.58 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Banks and the categories next to it (Regional Banks, Payment Processing, International Equity, Capital Markets), plus STT's specific themes. 112 of 572 passed at least one test. | |||||||||
 RYRoyal Bank of Canada · Banks | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +17.5% | 18.2% | 0.98 | −40.0% | +361% | 0.69 | — | |
 TDThe Toronto-Dominion Bank · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +16.5% | 20.0% | 0.87 | −42.0% | +319% | 0.68 | — | |
EWTiShares MSCI Taiwan ETF · International Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +19.8% | 24.3% | 0.87 | −38.9% | +448% | 0.47 | 0.59% | |
NECBNortheast Community Bancorp, Inc. · Regional Banks | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +25.6% | 24.9% | 1.04 | −47.9% | +590% | 0.40 | — | |
NICNicolet Bankshares, Inc. · Regional Banks | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +19.7% | 30.2% | 0.75 | −44.3% | +354% | 0.44 | — | |
CHCOCity Holding Company · Regional Banks | Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +15.1% | 22.8% | 0.73 | −32.3% | +272% | 0.57 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 546 of 3,182 passed at least one test. | |||||||||
 CAHCardinal Health, Inc. · Health Care Distribution | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +41.7% | 24.7% | 1.54 | −46.1% | +345% | 0.21 | — | |
 ABBVAbbVie Inc. · Specialty Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +25.5% | 23.4% | 1.09 | −45.1% | +600% | 0.16 | — | |
 PMPhilip Morris International Inc. · Tobacco | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +21.3% | 23.4% | 0.94 | −42.9% | +240% | 0.31 | — | |
 CSCOCisco Systems, Inc. · Communications Equipment | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +16.9% | 26.1% | 0.73 | −42.0% | +361% | 0.42 | — | |
 VGTVanguard Information Technology ETF · Technology Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +18.1% | 26.1% | 0.77 | −35.1% | +753% | 0.55 | 0.09% | |
 LLYEli Lilly and Company · Pharmaceuticals | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +41.2% | 32.8% | 1.22 | −34.5% | +1,870% | -0.06 | — | |
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +16.2% | 18.4% | 0.91 | −39.5% | +286% | 0.69 | 0.15% | |
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance | Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +15.2% | 22.9% | 0.73 | −40.1% | +309% | 0.38 | — | |
What these numbers mean for STT
- Annual return
- STT returned 14.6% 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 $19,800. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
- Volatility
- STT's volatility over the past 5 years was 29.9%, 1.7 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, STT's return lands within 29.9% 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
- STT's Sharpe ratio over the past 5 years was 0.61, against 0.78 for the S&P 500, so STT 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
- STT's worst fall from a peak to a low over the past 10 years was 59.6%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 59.6% fall takes a 147% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, STT's monthly returns had a correlation of 0.73 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 STT instead: the lower it is, the more that option would diversify a STT holding. Guide: Correlation and diversification →
Show all 144 stocks and funds worth at least $500 million that earned more than STT 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 STT | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | CAHCardinal Health, Inc. · Health Care Distribution | Whole market | +41.7% | 24.7% | 1.54 | −46.1% | +345% | 0.21 | — |
| 2 | ABBVAbbVie Inc. · Specialty Pharmaceuticals | Whole market | +25.5% | 23.4% | 1.09 | −45.1% | +600% | 0.16 | — |
| 3 | RYRoyal Bank of Canada · Banks | Same or nearby category | +17.5% | 18.2% | 0.98 | −40.0% | +361% | 0.69 | — |
| 4 | PMPhilip Morris International Inc. · Tobacco | Whole market | +21.3% | 23.4% | 0.94 | −42.9% | +240% | 0.31 | — |
| 5 | CSCOCisco Systems, Inc. · Communications Equipment | Whole market | +16.9% | 26.1% | 0.73 | −42.0% | +361% | 0.42 | — |
| 6 |  MRKMerck & Co., Inc. · Pharmaceuticals | Whole market | +16.1% | 24.8% | 0.73 | −43.4% | +245% | 0.13 | — |
| 7 |  MCKMcKesson Corporation · Health Care Distribution | Whole market | +37.8% | 25.1% | 1.41 | −38.1% | +582% | 0.11 | — |
| 8 |  AMGNAmgen Inc. · Biotechnology | Whole market | +20.1% | 24.9% | 0.86 | −24.9% | +280% | 0.27 | — |
| 9 | VGTVanguard Information Technology ETF · Technology Equity | Whole market | +18.1% | 26.1% | 0.77 | −35.1% | +753% | 0.55 | 0.09% |
| 10 |  PGRThe Progressive Corporation · Property & Casualty Insurance | Whole market | +21.8% | 25.7% | 0.90 | −30.3% | +849% | 0.25 | — |
| 11 |  CBChubb Limited · Property & Casualty Insurance | Whole market | +15.8% | 20.4% | 0.82 | −42.6% | +256% | 0.46 | — |
| 12 |  TRVThe Travelers Companies, Inc. · Property & Casualty Insurance | Whole market | +22.4% | 22.3% | 1.02 | −46.3% | +360% | 0.52 | — |
| 13 |  GWWW.W. Grainger, Inc. · Industrial Distribution | Whole market | +26.7% | 24.9% | 1.08 | −41.6% | +670% | 0.56 | — |
| 14 |  MNSTMonster Beverage Corporation · Nonalcoholic Beverages | Whole market | +17.4% | 24.9% | 0.77 | −30.4% | +278% | 0.18 | — |
| 15 |  ALLThe Allstate Corporation · Property & Casualty Insurance | Whole market | +17.9% | 26.2% | 0.76 | −41.4% | +377% | 0.31 | — |
| 16 |  FASTFastenal Company · Industrial Distribution | Whole market | +16.2% | 24.6% | 0.74 | −30.7% | +582% | 0.40 | — |
| 17 |  IXORIX Corporation · Diversified Financials | Whole market | +18.3% | 25.4% | 0.79 | −42.5% | +286% | 0.53 | — |
| 18 |  AAPLApple Inc. · Computer Hardware | Whole market | +19.1% | 28.0% | 0.77 | −38.5% | +1,194% | 0.39 | — |
| 19 | RSReliance Steel & Aluminum Co. · Metals & Mining | Whole market | +24.8% | 28.1% | 0.94 | −40.8% | +639% | 0.39 | — |
| 20 | TDThe Toronto-Dominion Bank · Banks | Same or nearby category | +16.5% | 20.0% | 0.87 | −42.0% | +319% | 0.68 | — |
| 21 | RNRRenaissanceRe Holdings Ltd. · Insurance | Whole market | +20.6% | 27.9% | 0.81 | −40.7% | +222% | 0.17 | — |
| 22 | EHCEncompass Health Corporation · Health Care Facilities | Whole market | +18.7% | 26.9% | 0.77 | −39.5% | +354% | 0.30 | — |
| 23 | VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value | Whole market | +16.2% | 18.4% | 0.91 | −39.5% | +286% | 0.69 | 0.15% |
| 24 | RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity | Whole market | +16.6% | 25.1% | 0.74 | −33.7% | +559% | 0.61 | 0.40% |
| 25 | EWTiShares MSCI Taiwan ETF · International Equity | Same or nearby category | +19.8% | 24.3% | 0.87 | −38.9% | +448% | 0.47 | 0.59% |
| 26 |  CTASCintas Corporation · Business Services | Whole market | +17.1% | 23.1% | 0.80 | −48.4% | +834% | 0.48 | — |
| 27 | NXTGFirst Trust Indxx NextG ETF · Technology Equity | Whole market | +16.1% | 19.1% | 0.88 | −33.6% | +323% | 0.53 | 0.70% |
| 28 |  CCEPCoca-Cola Europacific Partners PLC · Food & Beverages | Whole market | +20.4% | 23.3% | 0.92 | −48.8% | +294% | 0.29 | — |
| 29 |  WMTWalmart Inc. · Discount Retail | Whole market | +21.1% | 22.6% | 0.97 | −25.7% | +521% | 0.26 | — |
| 30 | WRBW. R. Berkley Corporation · Property & Casualty Insurance | Whole market | +18.6% | 22.9% | 0.86 | −45.3% | +466% | 0.22 | — |
| 31 | PKGPackaging Corporation of America · Packaging | Whole market | +16.6% | 25.9% | 0.72 | −38.2% | +302% | 0.45 | — |
| 32 |  COSTCostco Wholesale Corporation · Discount Retail | Whole market | +17.4% | 22.9% | 0.82 | −31.4% | +692% | 0.30 | — |
| 33 |  NVSNovartis AG · Pharmaceuticals | Whole market | +17.4% | 20.7% | 0.89 | −26.8% | +234% | 0.19 | — |
| 34 | MSGSMadison Square Garden Sports Corp. · Entertainment | Whole market | +17.5% | 25.7% | 0.76 | −41.6% | +395% | 0.43 | — |
| 35 |  TJXThe TJX Companies, Inc. · Apparel Retail | Whole market | +19.8% | 22.3% | 0.93 | −42.5% | +357% | 0.30 | — |
| 36 |  TTTrane Technologies plc · Building Products | Whole market | +21.4% | 27.7% | 0.84 | −40.5% | +927% | 0.47 | — |
| 37 |  CORCencora, Inc. · Health Care Distribution | Whole market | +23.6% | 22.8% | 1.05 | −32.4% | +403% | 0.32 | — |
| 38 |  IAUiShares Gold Trust · Gold | Whole market | +17.2% | 18.9% | 0.94 | −26.4% | +211% | 0.02 | 0.25% |
| 39 |  ORLYO'Reilly Automotive, Inc. · Specialty Retail | Whole market | +15.8% | 23.4% | 0.75 | −42.0% | +394% | 0.33 | — |
| 40 |  ETREntergy Corporation · Electric Utilities | Whole market | +19.8% | 22.4% | 0.92 | −42.0% | +326% | 0.34 | — |
| 41 |  PCARPACCAR Inc · Commercial Vehicles | Whole market | +17.7% | 26.2% | 0.76 | −37.9% | +314% | 0.63 | — |
| 42 | ATOAtmos Energy Corporation · Gas Utilities | Whole market | +15.9% | 18.5% | 0.90 | −32.9% | +207% | 0.41 | — |
| 43 |  CVXChevron Corporation · Integrated Oil & Gas | Whole market | +19.7% | 25.2% | 0.84 | −55.8% | +243% | 0.36 | — |
| 44 |  SHELShell plc · Integrated Oil & Gas | Whole market | +21.4% | 24.8% | 0.91 | −67.2% | +236% | 0.30 | — |
| 45 |  CMCanadian Imperial Bank of Commerce · Banks | Same or nearby category | +19.5% | 21.6% | 0.94 | −47.3% | +409% | 0.70 | — |
| 46 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.6% | 17.2% | 0.94 | −31.4% | +357% | 0.67 | 0.40% |
| 47 | JPMJPMorgan Chase & Co. · Banks | Popular alternative | +17.3% | 24.3% | 0.78 | −43.6% | +534% | 0.77 | — |
| 48 |  WELLWelltower Inc. · Healthcare REITs | Whole market | +27.0% | 23.8% | 1.13 | −63.3% | +378% | 0.40 | — |
| 49 | PPAInvesco Aerospace & Defense ETF · Aerospace & Defense | Whole market | +16.2% | 18.9% | 0.89 | −43.9% | +341% | 0.55 | 0.58% |
| 50 | AIRRFirst Trust RBA American Industrial RenaissanceTM ETF · US Industrials | Whole market | +17.5% | 25.9% | 0.76 | −42.4% | +392% | 0.65 | 0.69% |
| 51 |  TTETotalEnergies SE · Integrated Oil & Gas | Whole market | +18.8% | 25.8% | 0.80 | −59.6% | +237% | 0.33 | — |
| 52 | CBOECboe Global Markets, Inc. · Capital Markets | Same or nearby category | +22.0% | 25.1% | 0.92 | −43.2% | +481% | 0.17 | — |
| 53 | DXJWisdomTree Japan Hedged Equity Fund · Japan Equity | Same or nearby category | +26.6% | 19.1% | 1.34 | −39.1% | +415% | 0.29 | 0.48% |
| 54 |  EEni S.p.A. · Integrated Oil & Gas | Whole market | +23.7% | 25.6% | 0.96 | −61.4% | +283% | 0.43 | — |
| 55 | CCBGCapital City Bank Group, Inc. · Regional Banks | Same or nearby category | +16.3% | 27.5% | 0.69 | −45.2% | +305% | 0.53 | — |
| 56 |  MFCManulife Financial Corporation · Life Insurance | Whole market | +23.3% | 24.0% | 1.00 | −57.5% | +386% | 0.61 | — |
| 57 | EUFNiShares MSCI Europe Financials ETF · Financial Sector Equity | Whole market | +18.1% | 21.8% | 0.88 | −53.2% | +224% | 0.74 | 0.49% |
| 58 |  RTXRTX Corporation · Aerospace & Defense | Whole market | +18.7% | 24.4% | 0.83 | −52.0% | +319% | 0.33 | — |
| 59 |  GILDGilead Sciences, Inc. · Biotechnology | Whole market | +22.8% | 24.9% | 0.95 | −30.5% | +202% | 0.22 | — |
| 60 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity | Same or nearby category | +16.9% | 11.1% | 1.48 | −32.4% | +194% | 0.54 | 0.40% |
| 61 | DBJPXtrackers MSCI Japan Hedged Equity ETF · Japan Equity | Same or nearby category | +20.9% | 19.3% | 1.09 | −31.3% | +339% | 0.36 | 0.45% |
| 62 | BFCBank First Corporation · Regional Banks | Same or nearby category | +18.7% | 27.4% | 0.76 | −39.8% | +485% | 0.35 | — |
| 63 |  MOAltria Group, Inc. · Tobacco | Whole market | +18.3% | 21.4% | 0.90 | −53.7% | +133% | 0.33 | — |
| 64 | IHGInterContinental Hotels Group PLC · Hotels & Resorts | Whole market | +21.7% | 26.6% | 0.88 | −59.3% | +387% | 0.61 | — |
| 65 |  HLTHilton Worldwide Holdings Inc. · Hotels & Resorts | Whole market | +20.7% | 26.8% | 0.84 | −50.8% | +693% | 0.56 | — |
| 66 | ACGLArch Capital Group Ltd. · Property & Casualty Insurance | Whole market | +20.1% | 24.5% | 0.87 | −53.8% | +316% | 0.24 | — |
| 67 | SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Broad Commodities | Whole market | +21.1% | 18.4% | 1.14 | −45.7% | — | 0.15 | 0.80% |
| 68 | TPYPTortoise North American Pipeline ETF · Energy Infrastructure | Whole market | +17.2% | 17.3% | 1.01 | −51.9% | +188% | 0.56 | 0.40% |
| 69 | SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity | Whole market | +18.1% | 20.9% | 0.91 | −30.9% | +485% | 0.59 | 0.13% |
| 70 | CNOCNO Financial Group, Inc. · Life Insurance | Whole market | +19.1% | 28.1% | 0.77 | −63.8% | +348% | 0.66 | — |
| 71 | PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value | Whole market | +15.9% | 15.1% | 1.06 | −41.3% | — | 0.78 | 0.56% |
| 72 | DTMDT Midstream, Inc. · Oil & Gas Midstream | Whole market | +25.0% | 25.2% | 1.02 | −23.6% | — | 0.50 | — |
| 73 | ORIOld Republic International Corporation · Property & Casualty Insurance | Whole market | +17.3% | 22.2% | 0.83 | −47.8% | +353% | 0.58 | — |
| 74 | NEUNewMarket Corporation · Specialty Chemicals | Whole market | +20.9% | 26.8% | 0.85 | −40.7% | +162% | 0.24 | — |
| 75 | ACTEnact Holdings Inc. · Insurance | Whole market | +20.7% | 24.4% | 0.90 | −20.2% | — | 0.50 | — |
| 76 | AXSAXIS Capital Holdings Limited · Property & Casualty Insurance | Whole market | +17.9% | 25.3% | 0.78 | −49.3% | +149% | 0.42 | — |
| 77 |  HSBCHSBC Holdings plc · Banks | Same or nearby category | +32.8% | 25.9% | 1.23 | −62.3% | +314% | 0.54 | — |
| 78 | BNYBank of New York Mellon Corp · Banks | Popular alternative | +22.8% | 24.4% | 0.97 | −50.5% | +332% | 0.86 | — |
| 79 | QTUMDefiance Quantum ETF · Quantum Computing | Whole market | +22.1% | 28.2% | 0.85 | −38.5% | — | 0.50 | 0.40% |
| 80 | CRAKVanEck Oil Refiners ETF · Oil Refining | Whole market | +19.5% | 20.9% | 0.96 | −58.8% | +325% | 0.43 | 0.61% |
| 81 | PSMTPriceSmart, Inc. · Discount Retail | Whole market | +19.7% | 28.1% | 0.78 | −53.2% | +121% | 0.32 | — |
| 82 | GARPiShares MSCI USA Quality GARP ETF · US Large-Cap Growth | Whole market | +16.6% | 22.5% | 0.80 | −31.4% | — | 0.61 | 0.15% |
| 83 | FRDMFreedom 100 Emerging Markets ETF · Emerging Markets Equity | Same or nearby category | +16.8% | 22.9% | 0.80 | −40.5% | — | 0.52 | 0.49% |
| 84 |  XOMExxonmobil Holdings Corporation · Integrated Oil & Gas | Whole market | +27.5% | 26.5% | 1.05 | −61.0% | +216% | 0.30 | — |
| 85 | NANRState Street SPDR S&P North American Natural Resources ETF · Natural Resources Equity | Whole market | +17.1% | 22.6% | 0.82 | −49.1% | +238% | 0.45 | 0.35% |
| 86 | UFOXDefiance Space and Connective Tech ETF · Space Systems | Whole market | +16.7% | 26.6% | 0.72 | −33.9% | — | 0.51 | 0.30% |
| 87 |  BTIBritish American Tobacco p.l.c. · Tobacco | Whole market | +19.4% | 22.0% | 0.92 | −56.1% | +110% | 0.31 | — |
| 88 |  WMBThe Williams Companies, Inc. · Oil & Gas Midstream | Whole market | +25.2% | 24.1% | 1.06 | −68.1% | +291% | 0.42 | — |
| 89 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +24.0% | 18.8% | 1.25 | −75.2% | +337% | 0.45 | — |
| 90 |  EPDEnterprise Products Partners L.P. · Oil & Gas Midstream | Whole market | +16.3% | 17.1% | 0.98 | −58.1% | +178% | 0.44 | — |
| 91 |  KMIKinder Morgan, Inc. · Oil & Gas Midstream | Whole market | +20.1% | 22.3% | 0.94 | −55.1% | +159% | 0.50 | — |
| 92 |  AFLAflac Incorporated · Life Insurance | Whole market | +19.5% | 20.8% | 0.97 | −54.9% | +344% | 0.51 | — |
| 93 |  WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery | Whole market | +25.2% | 26.3% | 0.99 | −64.1% | +258% | 0.58 | — |
| 94 |  XLEState Street Energy Select Sector SPDR ETF · Energy Equity | Whole market | +22.7% | 25.5% | 0.94 | −66.8% | +190% | 0.43 | 0.08% |
| 95 |  TDGTransDigm Group Incorporated · Aerospace Components | Whole market | +16.2% | 28.0% | 0.68 | −62.6% | +526% | 0.48 | — |
| 96 | HIGThe Hartford Insurance Group, Inc. · Property & Casualty Insurance | Whole market | +15.8% | 22.0% | 0.78 | −57.6% | +302% | 0.52 | — |
| 97 |  HEIHEICO Corporation · Aerospace Components | Whole market | +16.5% | 27.8% | 0.69 | −57.7% | +788% | 0.45 | — |
| 98 | KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages | Whole market | +22.4% | 24.7% | 0.95 | −55.1% | +119% | 0.30 | — |
| 99 | PAAPlains All American Pipeline, L.P. · Oil & Gas Midstream | Whole market | +28.4% | 25.6% | 1.11 | −87.9% | +66.5% | 0.48 | — |
| 100 | WESWestern Midstream Partners, LP · Oil & Gas Midstream | Whole market | +24.4% | 27.6% | 0.93 | −91.9% | +122% | 0.50 | — |
STT against its popular alternatives
The investments people most often weigh against STT, compared period by period and year by year.
How do STT'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 STT, which divides the map into what did better or worse on each measure.
- BNY, JPM and C were both more rewarding and calmer than STT over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, STT returned 14.6% a year, more than the S&P 500's 12.5%, with higher volatility (29.9% against 17.2%).
Green points earned more than STT 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 |
|---|---|---|
| BNY Bank of New York Mellon Corp | +22.8% | 24.4% |
| AMG Affiliated Managers Group, Inc. | +19.0% | 31.9% |
| JPM JPMorgan Chase & Co. | +17.3% | 24.3% |
| C Citigroup Inc. | +15.3% | 29.4% |
| STT This pageState Street Corporation | +14.6% | 29.9% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.5% | 17.2% |
| SEIC SEI Investments Company | +11.7% | 22.4% |
| CME CME Group Inc. | +11.6% | 20.8% |
| NTRS Northern Trust Corporation | +8.9% | 29.3% |
| IVZ Invesco Ltd. | +7.2% | 36.4% |
| BLK BlackRock, Inc. | +7.0% | 27.1% |
| ICE Intercontinental Exchange, Inc. | +5.9% | 21.8% |
| BEN Franklin Resources, Inc. | +5.6% | 31.7% |
| SSNC SS&C Technologies Holdings, Inc. | +5.2% | 25.2% |
| SCHW The Charles Schwab Corporation | +3.2% | 31.9% |
| SPGI S&P Global Inc. | +1.0% | 25.6% |
| APAM Artisan Partners Asset Management Inc. | +0.9% | 31.1% |
| MSCI MSCI Inc. | +0.2% | 31.3% |
| AB AllianceBernstein Holding L.P. | −0.5% | 27.6% |
| TROW T. Rowe Price Group, Inc. | −8.9% | 30.5% |
| FIS Fidelity National Information Services, Inc. | −18.9% | 34.0% |
Has STT consistently beaten its popular alternatives?
This section compares STT 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 STT helps separate lasting outperformance from a single strong stretch.
- Only one of the 19 popular alternatives, AMG, outperformed STT in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- BNY, JPM and CME earned more for the risk they took than STT (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
- C outperformed STT over all three long-term periods but in only one of the five short-term ones, so STT has had the better of it lately.
A green cell means the alternative earned more than STT 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 | ||
| STT State Street Corporation (this page) | — | −6.4% | −8.9% | +11.3% | +32.3% | +51.8% | +186% | +97.6% | +213% | 29.9% | 0.61 | −59.6% | — | $46B | — |
| AMG QualifiedAffiliated Managers Group, Inc. | 5/5 short2/3 long | +9.8% | +14.1% | +31.3% | +36.9% | +67.0% | +222% | +139% | +186% | 31.9% | 0.71 | −78.5% | — | $10B | — |
| BNY Investment - Banking & Investment ServicesBank of New York Mellon Corp | 1/5 short3/3 long | −3.2% | −9.0% | +7.8% | +25.7% | +38.1% | +277% | +179% | +332% | 24.4% | 0.97 | −50.5% | — | $99B | — |
| C Banks - DiversifiedCitigroup Inc. | 1/5 short3/3 long | −7.5% | −6.9% | −4.6% | +4.8% | +29.9% | +245% | +104% | +234% | 29.4% | 0.63 | −56.5% | — | $206B | — |
| JPM Banks - DiversifiedJPMorgan Chase & Co. | 2/5 short2/3 long | −0.5% | −2.9% | +8.5% | +5.4% | +16.6% | +154% | +122% | +534% | 24.3% | 0.78 | −43.6% | — | $895B | — |
| MSCI Financial - Data & Stock ExchangesMSCI Inc. | 2/5 short1/3 long | +13.0% | +9.0% | +2.7% | +11.0% | +17.0% | +32.1% | +1.2% | +732% | 31.3% | 0.17 | −43.7% | — | $45B | — |
| CME Financial - Data & Stock ExchangesCME Group Inc. | 2/5 short1/3 long | +14.5% | +23.3% | +8.2% | +17.3% | +18.7% | +62.8% | +73.2% | +334% | 20.8% | 0.63 | −37.4% | — | $110B | — |
| BLK Asset ManagementBlackRock, Inc. | 2/5 short1/3 long | +6.6% | +8.2% | +8.2% | +6.5% | +2.8% | +97.8% | +40.3% | +324% | 27.1% | 0.39 | −43.9% | — | $176B | — |
| SPGI Financial - Data & Stock ExchangesS&P Global Inc. | 2/5 short1/3 long | +12.6% | +5.8% | +1.4% | −11.0% | −4.7% | +32.6% | +4.9% | +298% | 25.6% | 0.17 | −39.8% | — | $134B | — |
| AB Asset ManagementAllianceBernstein Holding L.P. | 2/5 short1/3 long | −2.9% | −3.8% | −6.1% | −2.8% | −2.4% | +58.6% | −2.5% | +285% | 27.6% | 0.12 | −58.1% | — | $3.2B | — |
| ICE Financial - Data & Stock ExchangesIntercontinental Exchange, Inc. | 2/5 short1/3 long | +7.1% | +15.3% | +3.9% | +3.5% | +5.8% | +57.9% | +33.0% | +249% | 21.8% | 0.37 | −34.3% | — | $92B | — |
| SCHW Financial - Capital MarketsThe Charles Schwab Corporation | 0/5 short1/3 long | −8.9% | −9.0% | +0.4% | −9.1% | −1.8% | +93.2% | +17.0% | +223% | 31.9% | 0.26 | −51.1% | — | $158B | — |
| BEN Asset ManagementFranklin Resources, Inc. | 4/5 short0/3 long | −3.9% | −1.7% | +17.0% | +37.1% | +46.5% | +66.2% | +31.5% | +49.9% | 31.7% | 0.33 | −62.1% | — | $16B | — |
| SSNC Software - ApplicationSS&C Technologies Holdings, Inc. | 3/5 short0/3 long | +13.0% | +34.1% | +27.6% | +5.6% | +10.7% | +87.6% | +28.7% | +205% | 25.2% | 0.33 | −48.9% | — | $21B | — |
| SEIC Asset ManagementSEI Investments Company | 3/5 short0/3 long | +0.7% | +5.8% | +24.0% | +26.6% | +29.9% | +98.4% | +73.7% | +156% | 22.4% | 0.61 | −51.8% | — | $13B | — |
| NTRS Asset ManagementNorthern Trust Corporation | 2/5 short0/3 long | −4.4% | −6.8% | −0.3% | +20.8% | +34.9% | +181% | +53.5% | +206% | 29.3% | 0.44 | −50.0% | — | $30B | — |
| IVZ Asset ManagementInvesco Ltd. | 2/5 short0/3 long | −6.7% | −5.0% | +14.3% | +9.3% | +30.4% | +162% | +41.5% | +49.6% | 36.4% | 0.37 | −79.8% | — | $13B | — |
| FIS Information Technology ServicesFidelity National Information Services, Inc. | 2/5 short0/3 long | +9.5% | −4.5% | −18.1% | −39.8% | −41.4% | −16.2% | −65.0% | −38.8% | 34.0% | -0.44 | −76.0% | — | $20B | — |
| APAM Asset ManagementArtisan Partners Asset Management Inc. | 1/5 short0/3 long | −4.3% | −10.0% | −6.9% | −10.3% | −12.9% | +34.2% | +4.4% | +211% | 31.1% | 0.18 | −51.1% | — | $2.4B | — |
| TROW Asset ManagementT. Rowe Price Group, Inc. | 1/5 short0/3 long | −0.7% | −9.7% | +5.7% | +2.8% | +6.0% | +25.4% | −37.3% | +126% | 30.5% | -0.16 | −58.2% | — | $22B | — |
How did STT do year by year?
This table shows each investment's total return in every full calendar year since 1997, along with where STT ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with STT and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- Ranked against its popular alternatives each year, STT finished in the top quarter in one of 29 years and in the bottom quarter in five. In 2025, it ranked 8 of 20.
- STT finished ahead of the S&P 500 in 14 of its 29 full calendar years, and ahead of it in each of the last two.
- Among its popular alternatives, BLK came out ahead of STT most often, in 18 of the 26 years both traded.
Newest year first. Green marks a year in which the fund came out ahead of STT; gray means the two finished within a fraction of a point. The rank row places STT among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of STT | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STT This pageState Street Corporation | — | +35.5% | +30.2% | +3.5% | −13.8% | +31.0% | −4.8% | +29.3% | −34.0% | +27.8% | +19.8% | −13.9% | +8.7% | +58.6% | +19.2% | −11.4% | +6.6% | +10.8% | −50.7% | +21.9% | +23.2% | +14.5% | −4.4% | +35.4% | −24.5% | −15.2% | +71.1% | +5.0% | +21.5% | +81.6% |
| Rank among alternatives | Top quarter in 1 of 29 | 8 of 20 | 7 of 20 | 14 of 20 | 5 of 20 | 11 of 20 | 14 of 20 | 12 of 20 | 16 of 20 | 11 of 20 | 6 of 20 | 17 of 20 | 14 of 20 | 6 of 19 | 15 of 19 | 8 of 19 | 10 of 18 | 15 of 18 | 10 of 18 | 8 of 17 | 12 of 17 | 10 of 16 | 15 of 16 | 10 of 16 | 6 of 15 | 7 of 14 | 5 of 14 | 11 of 13 | 8 of 13 | 6 of 12 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 15 of 29 | +17.7% | +24.9% | +26.2% | −18.2% | +28.7% | +18.3% | +31.2% | −4.6% | +21.7% | +12.0% | +1.2% | +13.5% | +32.3% | +16.0% | +1.9% | +15.1% | +26.4% | −36.8% | +5.1% | +15.9% | +4.8% | +10.7% | +28.2% | −21.6% | −11.7% | −9.8% | +20.4% | +28.7% | +33.5% |
| AMG Affiliated Managers Group, Inc. | 16 of 28 | +55.9% | +22.2% | −4.4% | −3.7% | +61.8% | +20.5% | −11.8% | −52.1% | +41.9% | −9.0% | −24.7% | −2.1% | +66.6% | +35.6% | −3.3% | +47.3% | +60.7% | −64.3% | +11.7% | +31.0% | +18.5% | +46.0% | +38.4% | −28.6% | +28.5% | +35.7% | +35.4% | +3.0% | — |
| BNY Bank of New York Mellon Corp | 14 of 29 | +54.4% | +51.9% | +18.5% | −19.1% | +40.6% | −12.9% | +9.6% | −10.8% | +15.7% | +17.1% | +3.3% | +18.3% | +38.6% | +32.1% | −32.8% | +9.3% | +0.9% | −40.4% | +20.0% | +26.8% | −1.2% | +4.8% | +45.2% | −38.9% | −23.4% | +42.7% | +1.6% | +41.6% | +75.3% |
| C Citigroup Inc. | 13 of 29 | +70.4% | +41.9% | +19.0% | −22.1% | +0.9% | −19.7% | +57.9% | −28.5% | +27.0% | +15.9% | −4.1% | +3.9% | +31.8% | +50.5% | −44.3% | +42.9% | −50.6% | −75.9% | −44.8% | +19.6% | +4.6% | +2.8% | +41.6% | −20.4% | +0.1% | +23.6% | +70.2% | −6.8% | +79.9% |
| JPM JPMorgan Chase & Co. | 17 of 29 | +37.3% | +44.3% | +30.6% | −12.6% | +27.8% | −5.5% | +47.3% | −6.6% | +26.8% | +34.5% | +8.4% | +9.9% | +36.7% | +36.2% | −19.9% | +2.3% | +34.4% | −25.1% | −6.9% | +25.7% | +5.7% | +10.0% | +60.5% | −30.7% | −17.4% | −10.1% | +11.7% | +32.9% | +25.5% |
| MSCI MSCI Inc. | 9 of 18 | −3.2% | +7.3% | +22.9% | −23.3% | +38.1% | +74.4% | +77.2% | +18.0% | +62.6% | +10.6% | +54.0% | +9.0% | +41.0% | −5.9% | −15.5% | +22.5% | +79.1% | −53.8% | — | — | — | — | — | — | — | — | — | — | — |
| CME CME Group Inc. | 13 of 23 | +19.8% | +15.4% | +31.3% | −22.9% | +29.5% | −6.3% | +9.7% | +32.1% | +32.4% | +33.9% | +4.4% | +18.3% | +64.0% | +11.4% | −22.7% | −2.7% | +64.3% | −68.8% | +35.3% | +39.5% | +61.8% | +219% | +67.5% | — | — | — | — | — | — |
| BLK BlackRock, Inc. | 18 of 26 | +6.6% | +29.3% | +17.9% | −20.4% | +29.4% | +47.2% | +31.9% | −21.6% | +38.2% | +14.6% | −2.4% | +15.7% | +57.0% | +19.8% | −3.6% | −15.9% | +76.6% | −37.0% | +45.1% | +41.8% | +42.4% | +47.6% | +35.9% | −5.5% | −0.7% | +144% | — | — | — |
| SPGI S&P Global Inc. | 19 of 29 | +5.7% | +13.9% | +32.8% | −28.4% | +44.7% | +21.4% | +62.3% | +1.4% | +59.3% | +10.5% | +12.3% | +15.5% | +45.9% | +30.1% | +26.6% | +12.0% | +49.3% | −45.5% | −34.7% | +33.5% | +14.2% | +33.0% | +17.8% | +0.8% | +5.7% | −3.2% | +22.8% | +41.1% | +64.4% |
| AB AllianceBernstein Holding L.P. | 14 of 29 | +13.4% | +30.4% | −2.3% | −23.4% | +56.3% | +23.0% | +19.9% | +21.0% | +16.9% | +7.0% | −1.1% | +30.3% | +31.2% | +42.6% | −39.4% | −12.2% | +44.2% | −70.1% | −1.2% | +50.2% | +42.7% | +28.7% | +16.1% | −31.8% | +0.9% | +82.0% | +25.2% | +37.5% | +63.2% |
| ICE Intercontinental Exchange, Inc. | 9 of 20 | +9.9% | +17.5% | +27.1% | −23.9% | +19.9% | +26.2% | +24.5% | +8.1% | +26.6% | +11.5% | +18.3% | −1.3% | +82.2% | +2.7% | +1.2% | +6.1% | +36.2% | −57.2% | +78.4% | +197% | — | — | — | — | — | — | — | — | — |
| SCHW The Charles Schwab Corporation | 20 of 29 | +36.6% | +9.2% | −16.0% | +0.1% | +60.2% | +13.6% | +16.4% | −18.4% | +31.1% | +21.0% | +9.9% | +17.2% | +83.3% | +29.8% | −33.1% | −7.8% | +18.1% | −36.1% | +40.0% | +32.8% | +23.5% | +1.7% | +9.5% | −29.5% | −45.4% | +11.4% | +36.3% | +102% | +97.6% |
| BEN Franklin Resources, Inc. | 14 of 29 | +24.8% | −27.2% | +16.9% | −17.5% | +39.0% | +1.4% | −9.2% | −23.4% | +11.6% | +9.8% | −32.5% | −2.3% | +38.9% | +35.2% | −10.9% | +6.5% | +71.8% | −43.7% | +4.4% | +17.8% | +39.8% | +34.6% | +53.3% | −2.5% | −6.7% | +19.6% | +0.8% | −26.1% | +91.7% |
| SSNC SS&C Technologies Holdings, Inc. | 9 of 15 | +16.8% | +25.8% | +19.2% | −35.7% | +13.7% | +19.5% | +37.2% | +12.1% | +42.5% | −15.6% | +17.7% | +32.5% | +91.6% | +27.9% | −11.9% | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| SEIC SEI Investments Company | 16 of 29 | +0.6% | +31.5% | +10.6% | −2.9% | +7.4% | −11.1% | +43.4% | −34.9% | +46.2% | −4.8% | +32.1% | +16.8% | +50.8% | +38.5% | −26.0% | +37.0% | +13.2% | −50.9% | +8.3% | +61.7% | −11.2% | +38.8% | +12.4% | −39.4% | −19.3% | +183% | +20.1% | +137% | +90.7% |
| NTRS Northern Trust Corporation | 14 of 29 | +36.9% | +25.6% | −1.0% | −23.8% | +31.6% | −9.3% | +30.6% | −14.7% | +14.2% | +26.1% | +9.1% | +11.1% | +26.1% | +29.9% | −26.5% | +8.1% | +2.7% | −30.8% | +28.2% | +19.1% | +8.6% | +6.7% | +34.5% | −40.9% | −25.4% | +55.1% | +22.5% | +26.7% | +95.2% |
| IVZ Invesco Ltd. | 14 of 29 | +56.9% | +3.0% | +4.2% | −18.7% | +35.5% | +3.0% | +14.9% | −52.0% | +24.6% | −5.9% | −12.1% | +11.5% | +43.4% | +33.4% | −14.6% | +4.8% | +66.6% | −52.6% | +442% | +72.6% | +35.5% | −6.8% | +36.2% | −52.8% | −30.3% | +101% | +57.5% | −6.0% | +103% |
| FIS Fidelity National Information Services, Inc. | 14 of 24 | −15.8% | +37.0% | −8.2% | −36.5% | −21.9% | +2.7% | +37.2% | +10.3% | +26.1% | +26.6% | −1.0% | +17.8% | +57.4% | +34.1% | −2.2% | +17.7% | +45.4% | +282% | +4.7% | +19.1% | +15.6% | +9.6% | +34.5% | −28.1% | — | — | — | — | — |
| APAM Artisan Partners Asset Management Inc. | 4 of 12 | +2.8% | +4.9% | +60.3% | −31.3% | +2.8% | +71.0% | +67.1% | −38.2% | +45.2% | −10.1% | −23.1% | −17.1% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| TROW T. Rowe Price Group, Inc. | 16 of 29 | −4.7% | +9.7% | +3.4% | −42.2% | +34.9% | +28.1% | +35.6% | −9.8% | +43.4% | +8.5% | −12.2% | +4.7% | +31.3% | +18.1% | −9.8% | +23.8% | +54.2% | −40.6% | +41.1% | +23.0% | +17.6% | +33.2% | +77.2% | −19.8% | −16.3% | +15.8% | +9.3% | +10.1% | +46.0% |
Risk and diversification
How STT 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 STT's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents STT's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
- In all three of STT's worst declines, the S&P 500 held up better over the same dates.
- The slowest recovery came after STT fell 82.3% from January 2008 to January 2009; it did not regain that peak until December 2014, six years later.
Green means STT fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | STT fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2008 financial crisis | −82.3% | −43.0% | Jan 2008 | Jan 2009 | 12 months | Dec 2014 | 5.9 years |
| Late-2018 sell-off | −59.6% | −17.8% | Jan 2018 | Mar 2020 | 2.2 years | Jan 2022 | 22 months |
| Dot-com bust | −51.7% | −35.5% | Nov 2000 | Mar 2003 | 2.3 years | Feb 2006 | 2.9 years |
| No named crash | −51.6% | — | Mar 1987 | Dec 1987 | 9 months | Aug 1989 | 20 months |
| No named crash | −47.0% | — | Jun 1990 | Nov 1990 | 5 months | Feb 1991 | 3 months |
How did STT do in stock market crashes?
This section measures how far STT, 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.
- STT fell further than the S&P 500 in nine of the ten crashes it has traded through. The clearest case was the 2008 financial crisis, when STT fell 82.3% and the S&P 500 fell 55.2%.
- Among its popular alternatives, BLK held up best, falling less than STT in all ten crashes they both traded through.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than STT.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| STT This pageState Street Corporation | — | −14.6% | −41.4% | −45.1% | −32.3% | −8.3% | −34.1% | −28.3% | −1.9% | −82.3% | −50.7% |
| SPY S&P 500State Street SPDR S&P 500 ETF | 9 of 10 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| AMG Affiliated Managers Group, Inc. | 3 of 10 | −12.8% | −32.9% | −49.1% | −38.7% | −9.0% | −44.4% | −31.8% | −4.8% | −85.9% | −46.4% |
| BNY Bank of New York Mellon Corp | 8 of 10 | −11.4% | −40.5% | −40.1% | −16.2% | −5.4% | −27.0% | −30.9% | −0.5% | −62.4% | −62.6% |
| C Citigroup Inc. | 4 of 10 | −11.7% | −39.2% | −54.8% | −33.1% | −6.7% | −40.3% | −42.6% | −1.0% | −97.7% | −52.7% |
| JPM JPMorgan Chase & Co. | 8 of 10 | −5.4% | −37.9% | −42.5% | −21.3% | −5.6% | −22.0% | −32.1% | −0.1% | −67.7% | −74.0% |
| MSCI MSCI Inc. | 7 of 8 | −2.5% | −35.8% | −32.2% | −24.6% | −6.1% | −13.3% | −26.3% | −1.7% | — | — |
| CME CME Group Inc. | 8 of 9 | −3.4% | −31.7% | −37.4% | −9.4% | −4.3% | −17.3% | −18.0% | −1.9% | −77.5% | — |
| BLK BlackRock, Inc. | 10 of 10 | −7.2% | −40.8% | −42.3% | −25.2% | −7.1% | −19.9% | −23.9% | 0.0% | −60.4% | −33.0% |
| SPGI S&P Global Inc. | 10 of 10 | −4.2% | −36.3% | −38.1% | −24.6% | −6.2% | −21.3% | −20.8% | −0.4% | −66.4% | −29.5% |
| AB AllianceBernstein Holding L.P. | 5 of 10 | −4.1% | −32.5% | −58.1% | −23.3% | −7.5% | −40.9% | −28.1% | 0.0% | −87.5% | −54.7% |
| ICE Intercontinental Exchange, Inc. | 7 of 9 | −7.0% | −33.8% | −33.0% | −13.3% | −9.4% | −12.7% | −19.3% | −2.0% | −73.9% | — |
| SCHW The Charles Schwab Corporation | 4 of 10 | −31.9% | −36.9% | −41.5% | −26.5% | −8.2% | −37.0% | −28.9% | −5.5% | −56.0% | −83.1% |
| BEN Franklin Resources, Inc. | 8 of 10 | −5.5% | −39.2% | −40.4% | −19.0% | −7.1% | −29.3% | −32.1% | −2.5% | −72.5% | −40.3% |
| SSNC SS&C Technologies Holdings, Inc. | 5 of 8 | −7.1% | −44.3% | −47.2% | −26.7% | −3.3% | −26.4% | −30.9% | −0.9% | — | — |
| SEIC SEI Investments Company | 5 of 10 | −6.9% | −24.7% | −47.2% | −31.1% | −7.3% | −38.4% | −31.1% | −2.8% | −71.2% | −69.0% |
| NTRS Northern Trust Corporation | 8 of 10 | −10.7% | −36.0% | −39.0% | −27.2% | −8.1% | −29.9% | −25.4% | 0.0% | −60.5% | −65.2% |
| IVZ Invesco Ltd. | 2 of 10 | −7.5% | −43.4% | −57.8% | −34.4% | −9.2% | −33.1% | −35.1% | −3.6% | −85.0% | −82.0% |
| FIS Fidelity National Information Services, Inc. | 7 of 9 | −20.2% | −38.5% | −34.7% | −13.1% | −8.0% | −23.4% | −23.3% | 0.0% | −46.4% | — |
| APAM Artisan Partners Asset Management Inc. | 2 of 6 | −6.8% | −39.4% | −49.7% | −38.0% | −10.1% | −46.5% | — | — | — | — |
| TROW T. Rowe Price Group, Inc. | 7 of 10 | −6.8% | −48.2% | −38.0% | −23.4% | −7.2% | −15.0% | −23.4% | −1.7% | −67.4% | −54.1% |
How closely does STT 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 STT with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- 11 of the 19 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than STT's 0.77, led by CME, JPM and MSCI.
- JPM took just 103% of the S&P 500's losses, against 166% for STT, while still keeping 117% of its gains.
- Over the past 10 years, STT captured 128% of the S&P 500's gains in rising months and 166% of its losses in falling months, with a beta of 1.48. It amplified the market's moves in both directions.
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 STT's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| STT This pageState Street Corporation | 128% | 166% | 0.77 | 1.48 |
| CME CME Group Inc. | 50% | 11% | 4.48 | 0.33 |
| JPM JPMorgan Chase & Co. | 117% | 103% | 1.14 | 1.09 |
| MSCI MSCI Inc. | 131% | 121% | 1.08 | 1.12 |
| SCHW The Charles Schwab Corporation | 89% | 90% | 0.99 | 0.91 |
| BNY Bank of New York Mellon Corp | 115% | 120% | 0.96 | 1.08 |
| ICE Intercontinental Exchange, Inc. | 88% | 94% | 0.94 | 0.84 |
| AB AllianceBernstein Holding L.P. | 102% | 112% | 0.91 | 1.10 |
| SPGI S&P Global Inc. | 107% | 125% | 0.85 | 1.04 |
| NTRS Northern Trust Corporation | 111% | 136% | 0.82 | 1.18 |
| BLK BlackRock, Inc. | 127% | 157% | 0.81 | 1.30 |
| C Citigroup Inc. | 131% | 165% | 0.80 | 1.49 |
| AMG Affiliated Managers Group, Inc. | 103% | 137% | 0.76 | 1.22 |
| SEIC SEI Investments Company | 97% | 127% | 0.76 | 1.03 |
| SSNC SS&C Technologies Holdings, Inc. | 113% | 153% | 0.74 | 1.32 |
| APAM Artisan Partners Asset Management Inc. | 160% | 224% | 0.72 | 1.79 |
| TROW T. Rowe Price Group, Inc. | 118% | 172% | 0.68 | 1.35 |
| BEN Franklin Resources, Inc. | 102% | 170% | 0.60 | 1.39 |
| IVZ Invesco Ltd. | 119% | 201% | 0.59 | 1.46 |
| FIS Fidelity National Information Services, Inc. | 54% | 150% | 0.36 | 0.82 |
What diversifies STT?
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 STT's. Because such investments tend not to fall at the same time, pairing STT with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in STT into GLD would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (+19.1% for STT alone, +20.1% for the mix).
- Among large ETFs, DXJ, SMH and XLE have moved largely independently of STT over the past 5 years, with correlations of 0.47 or lower, and each still earned a positive 5-year return.
- FIX made money in six of the nine calendar years in which STT lost money.
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 STT lost money. The last two columns show a portfolio that is 80% STT and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2020 | 2018 | 2015 | 2011 | 2008 | 2004 | 2002 | 2001 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STT State Street Corporation (this page) | 1.00 | +97.6% | 0.61 | −13.8% | −4.8% | −34.0% | −13.9% | −11.4% | −50.7% | −4.4% | −24.5% | −15.2% | 30.3% | +19.1% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.29 | +225% | 1.34 | +6.0% | +3.9% | −19.8% | +7.7% | −16.1% | −20.8% | — | — | — | 25.1% | +21.4% |
| SMH TechnologyVanEck Semiconductor ETF | 0.47 | +304% | 0.94 | −33.5% | +55.5% | −9.1% | −0.3% | +6.8% | −44.7% | −19.3% | −47.0% | −14.6% | 28.1% | +23.6% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.43 | +178% | 0.94 | +64.4% | −32.7% | −18.2% | −21.5% | +2.8% | −39.0% | +33.8% | −14.8% | −18.2% | 26.8% | +20.8% |
| GLD CommoditiesSPDR Gold Shares | 0.02 | +120% | 0.93 | −0.8% | +24.8% | −1.9% | −10.7% | +9.6% | +4.9% | — | — | — | 24.5% | +20.1% |
| EWT TechnologyiShares MSCI Taiwan ETF | 0.47 | +147% | 0.87 | −28.9% | +31.5% | −9.9% | −12.9% | −21.8% | −45.3% | +8.0% | −24.4% | +2.1% | 27.0% | +20.4% |
| EDIV InternationalState Street SPDR S&P Emerging Markets Dividend ETF | 0.36 | +69.0% | 0.83 | −15.3% | −10.0% | −6.2% | −27.4% | — | — | — | — | — | 25.3% | +18.2% |
| DBA AlternativesInvesco DB Agriculture Fund | 0.13 | +66.7% | 0.81 | +2.5% | −2.5% | −8.7% | −17.2% | −10.7% | −19.1% | — | — | — | 24.6% | +18.3% |
| PTLC Broad MarketPacer Trendpilot US Large Cap ETF | 0.43 | +56.0% | 0.81 | −8.6% | −1.2% | +1.5% | — | — | — | — | — | — | 25.3% | +18.0% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2020 | 2018 | 2015 | 2011 | 2008 | 2004 | 2002 | 2001 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| STT State Street Corporation (this page) | 1.00 | +97.6% | 0.61 | −13.8% | −4.8% | −34.0% | −13.9% | −11.4% | −50.7% | −4.4% | −24.5% | −15.2% | 30.3% | +19.1% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.21 | +471% | 1.54 | +54.1% | +10.1% | −24.5% | +12.6% | +8.1% | −39.6% | −4.7% | −8.3% | −2.5% | 25.8% | +23.9% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.39 | +2,780% | 1.43 | +1.3% | −2.4% | −16.3% | −6.0% | −24.4% | −20.5% | −6.4% | −65.1% | −25.6% | 30.7% | +36.4% |
| MCK Medical - DistributionMcKesson Corporation | 0.11 | +397% | 1.41 | +51.8% | +27.1% | −28.4% | −4.5% | +11.8% | −40.4% | −1.4% | −27.2% | +4.9% | 25.3% | +23.4% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.44 | +1,452% | 1.41 | +17.0% | +6.7% | +0.8% | +67.7% | −17.0% | −15.2% | +40.0% | −9.4% | +73.7% | 29.3% | +32.4% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.29 | +660% | 1.39 | +86.6% | −27.4% | −8.2% | +17.4% | — | — | — | — | — | 26.8% | +25.8% |
Common questions
What was STT's worst drawdown?
STT's deepest decline since it began trading in 1986 was 82.3%, from January 2008 to January 2009. It took about six years from the low to climb back to its old high.
What were STT's best and worst years?
Over 29 full calendar years, STT's best year was 1997, when it returned 81.6%. Its worst was 2008, with a return of -50.7%.
Is there a better investment than STT?
Among STT's popular alternatives, JPM and BNY earned more than STT with less volatility over the past 5 years. JPM returned 17.3% a year at 24.3% volatility, against 14.6% a year at 29.9%. Looking beyond its popular alternatives, RY (banks) and TD (banks) earned more than STT with less volatility over the past 5 years. RY returned 17.5% a year at 18.2% volatility, against 14.6% a year at 29.9%.
Is STT more volatile than the S&P 500?
Yes. STT's volatility over the past 5 years was 29.9%, 1.7 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, STT's return lands within 29.9% 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 STT's Sharpe ratio?
STT's Sharpe ratio over the past 5 years was 0.61, against 0.78 for the S&P 500, so STT 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 STT with the S&P 500?
Over the past 5 years, STT's monthly returns had a correlation of 0.73 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 STT instead: the lower it is, the more that option would diversify a STT holding.
What are the best alternatives to STT?
Of the 19 popular alternatives we compared, one outperformed STT in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: AMG.
Did STT outperform the S&P 500?
STT finished ahead of the S&P 500 (SPY) in 14 of 29 full calendar years. In 2025, it returned +35.5%, against +17.7% for the index.
How did STT do in stock market crashes?
STT fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in nine. The clearest case was the 2008 financial crisis, when STT fell 82.3% and the S&P 500 fell 55.2%.
What diversifies STT?
These had a low correlation with STT over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.29), SMH (correlation 0.47) and XLE (correlation 0.43); among large stocks, CAH (correlation 0.21), CLS (correlation 0.39) and MCK (correlation 0.11). 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 STT's. Returns within 0.5 points or 3% of STT'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.
More research
Popular alternatives to STT
- BNYBank of New York Mellon
CCitigroup- JPMJPMorgan Chase & Co.
MSCIMSCI- CMECME Group
BLKBlackRock- SPGIS&P Global
- ICEIntercontinental Exchange
SCHWCharles Schwab
SCHD
NVDA