# How Visa (V) compares with the whole market and its popular alternatives

> Source: BetterThanSPY research, https://betterthanspy.com/research/v
> Data as of October 22, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

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

Period covered: V's full trading record, from March 2008 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 22, 2026.

## Key findings

- **Right now:** V has run far ahead of the market, rising 33.6% over the past 6 months against 8.0% for the S&P 500 and 7.8% for the Nasdaq 100. After a 20.4% loss from June 2025 to March 2026, V has bounced 25.6% off the low.
- **Stock or market?:** V's 17.5% gain over the past 3 months far outran its industry: the financials sector ETF XLF (State Street Financial Select Sector SPDR ETF) rose 1.4%. The S&P 500 rose 2.5%. Last month cut against the tape: V rose 14.4% while the S&P 500 fell 1.2%.
- **Past 1 to 3 years:** Over the past year, V rose 20.9% against 15.6% for the S&P 500 and 16.9% for the Nasdaq 100. Even so, the last two calendar years both went the same way: V rose 11.8% in 2025, against 15.6% for the S&P 500 and 16.9% for the Nasdaq 100.
- **Long term:** V turned $10,000 into $53,500 over the past decade, against $41,600 in the S&P 500. V's 10-year return of 435% puts it ahead of 84% of the stocks worth at least $300 million with that much history. The S&P 500 returned 316%.
- **In a crash:** In the 2022 bear market, V held up better than MA (Mastercard), AXP and PYPL; only FISV (Fiserv) fell less.
- **Diversification:** Against the S&P 500, V has a correlation of 0.61 over 5 years, more closely than 92% of stocks worth at least $300 million. Next to an index fund it is more of the same, not a cushion.
- **Better options**
  - **Popular alternatives:** JPM (JPMorgan Chase & Co.) earned more than V over the past 5 years with similar volatility: 17.3% a year at 24.3% volatility, against 13.2% a year at 22.9%.
  - **Versus the S&P 500:** The S&P 500 matched V's return over the past 5 years (12.5% a year against 13.2%) with 25% less volatility.
  - **Whole market:** Few investments have done better on both counts: only 59 of the 3,641 stocks and funds worth at least $500 million earned more than V with less volatility over the past 5 years, among them KO (Coca-Cola), NVS (Novartis) and RY (Royal Bank of Canada).

## How much would $10,000 in V have grown?

This chart tracks a hypothetical $10,000 investment in V over the past 18 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of V over the same span and V's popular alternatives, among those that traded for the entire period.

- $10,000 invested in V at the end of September 2008 would have grown to $266,572 by September 2026, more than the $91,104 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of V, and NVDA finished highest, at $9,364,421.

## V 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.

- V's deepest decline since it began trading in 2008 was 51.9%, from May 2008 to January 2009. It took 11 months from the low to climb back to its old high.
- V is trading within 1% of its all-time high.
- Over 17 full calendar years, V's best was 2009, when it returned 68.0%, and its worst was 2010, when it lost 18.9%. It lost money in three of those years.

- Type: Stock, Financials (Financial - Credit Services)
- Trading since: March 19, 2008
- Market value: $774B
- Volatility (5 years): 22.9%; Sharpe ratio: 0.66
- Worst decline ever: −51.9%, from May 7, 2008 to January 20, 2009; back at its high by December 18, 2009

| Period | V total return |
| --- | --- |
| 1 month | +14.4% |
| 3 months | +17.5% |
| 6 months | +33.6% |
| year to date | +20.3% |
| 1 year | +20.9% |
| 3 years | +83.1% |
| 5 years | +86.1% |
| 10 years | +435% |

## V against the whole market

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

### How does V rank among all stocks?

This section ranks V on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- V's worst decline of the past 10 years ranks in the top 4% of the 2,184 stocks worth at least $300 million, where the top fell the least.

| Measure | V | Rank |
| --- | --- | --- |
| 1-year return | +20.9% | 1,241 of 3,282 (top 38%) |
| 3-year return | +83.1% | 1,126 of 3,016 (top 38%) |
| 5-year return | +86.1% | 789 of 2,897 (top 28%) |
| 10-year return | +435% | 363 of 2,201 (top 17%) |
| Volatility, 5 years | 22.9% | 199 of 2,897 (top 7%) |
| Sharpe ratio, 5 years | 0.66 | 542 of 2,897 (top 19%) |
| Worst decline, past 10 years | −36.4% | 77 of 2,184 (top 4%) |

### What has beaten V 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).

- 14 stocks and 45 ETFs worth at least $500 million sit in the green region: each earned more than V over the past 5 years with smaller price swings. That is 2% of the 3,641 screened. Few investments beat it on both counts.
- Among those with at least half V's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 17% less than V's 22.9%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.66 for V.

### Is there a better investment than V?

The table below lists investments that beat V 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.

- Among V's popular alternatives, JPM earned more than V over the past 5 years with similar volatility: 17.3% a year at 24.3% volatility, against 13.2% a year at 22.9%.
- The S&P 500 matched V's return over the past 5 years (12.5% a year against 13.2%) with 25% less volatility.
- Few investments have done better on both counts: only 59 of the 3,641 stocks and funds worth at least $500 million earned more than V with less volatility over the past 5 years, among them KO, NVS and RY.

The 15 strongest of 59 investments that beat V over the past 5 years, out of 3,641 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with V | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| V: Visa Inc. (this page) |  | +13.2% | 22.9% | 0.66 | −36.4% | +435% |  |  |
| [NVS](https://betterthanspy.com/research/nvs): Novartis AG | Pharmaceuticals | +17.4% | 20.7% | 0.89 | −26.8% | +234% | 0.35 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [GLD](https://betterthanspy.com/research/gld): SPDR Gold Shares | Gold | +17.1% | 19.0% | 0.93 | −26.4% | +206% | 0.05 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| DFIV: Dimensional - International Value ETF | International Large-Cap Value | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.60 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| SPMO: Invesco S&P 500 Momentum ETF | US Momentum Equity | +18.1% | 20.9% | 0.91 | −30.9% | +485% | 0.50 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| NI: NiSource Inc | Gas Utilities | +15.5% | 20.3% | 0.81 | −30.9% | +166% | 0.42 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [RY](https://betterthanspy.com/research/ry): Royal Bank of Canada | Banks | +17.5% | 18.2% | 0.98 | −40.0% | +361% | 0.51 | Higher return, lower volatility |
| CRAK: VanEck Oil Refiners ETF | Oil Refining | +19.5% | 20.9% | 0.96 | −58.8% | +325% | 0.34 | Higher return, lower volatility; Higher return in most periods |
| [MPLX](https://betterthanspy.com/research/mplx): MPLX Lp | Oil & Gas Midstream | +24.0% | 18.8% | 1.25 | −75.2% | +337% | 0.48 | Higher return, lower volatility |
| SPUS: SP Funds S&P 500 Sharia Industry Exclusions ETF | US Large-Cap Equity | +14.8% | 19.5% | 0.81 | −30.8% | — | 0.48 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| FFLC: Fidelity Fundamental Large Cap Core ETF | Active Core Equity | +15.5% | 16.8% | 0.94 | −19.7% | — | 0.66 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| DBJP: Xtrackers MSCI Japan Hedged Equity ETF | Japan Equity | +20.9% | 19.3% | 1.09 | −31.3% | +339% | 0.43 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| EWJV: iShares MSCI Japan Value ETF | Japan Equity | +15.1% | 18.2% | 0.87 | −30.1% | — | 0.48 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| DXJ: WisdomTree Japan Hedged Equity Fund | Japan Equity | +26.6% | 19.1% | 1.34 | −39.1% | +415% | 0.41 | Higher return, lower volatility |
| [KO](https://betterthanspy.com/research/ko): The Coca-Cola Company | Nonalcoholic Beverages | +15.2% | 16.8% | 0.93 | −37.0% | +205% | 0.40 | Higher return, lower volatility |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | International Dividend Equity | +16.9% | 11.1% | 1.48 | −32.4% | +194% | 0.58 | Higher return, lower volatility |

## V against its popular alternatives

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

### How do V'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.

- None of the 19 popular alternatives earned more than V over the past 5 years with smaller price swings, so every higher return on the map came with a bumpier ride.
- 18 of the 19 popular alternatives earned less than V over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, V returned 13.2% a year, more than the S&P 500's 12.5%, with higher volatility (22.9% against 17.2%).

### Has V consistently beaten its popular alternatives?

This section compares V with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- None of the 19 popular alternatives outperformed V in at least 3 of 5 short-term and 2 of 3 long-term timeframes. The closest was JPM.
- JPM outperformed V over all three long-term periods but in none of the five short-term ones, so V has had the better of it lately.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of V | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| V: Visa Inc. (this page) | +20.9% | +83.1% | +86.1% | +435% |  |  | 0.66 |
| [JPM](https://betterthanspy.com/research/jpm): JPMorgan Chase & Co. | +16.6% | +154% | +122% | +534% | 0/5 short-term, 3/3 long-term |  | 0.78 |
| [SHOP](https://betterthanspy.com/research/shop): Shopify Inc. | +4.2% | +231% | +18.4% | +3,745% | 1/5 short-term, 2/3 long-term |  | 0.38 |
| [AXP](https://betterthanspy.com/research/axp): American Express Company | −6.6% | +133% | +84.7% | +455% | 0/5 short-term, 2/3 long-term |  | 0.57 |
| [XYZ](https://betterthanspy.com/research/xyz): Block, Inc. | +4.1% | +80.0% | −68.8% | +596% | 1/5 short-term, 1/3 long-term |  | -0.09 |
| [MA](https://betterthanspy.com/research/ma): Mastercard Incorporated | +11.5% | +68.0% | +81.9% | +551% | 1/5 short-term, 1/3 long-term |  | 0.62 |
| [COF](https://betterthanspy.com/research/cof): Capital One Financial Corporation | −6.3% | +136% | +32.3% | +221% | 0/5 short-term, 1/3 long-term |  | 0.34 |
| PAY: Paymentus Holdings, Inc. | +12.7% | +132% | +32.7% | — | 0/5 short-term, 1/3 long-term |  | 0.40 |
| SOFI: SoFi Technologies, Inc. | −45.7% | +103% | −28.2% | — | 0/5 short-term, 1/3 long-term |  | 0.22 |
| TOST: Toast, Inc. | −12.3% | +94.4% | −32.6% | — | 0/5 short-term, 1/3 long-term |  | 0.17 |
| WEX: WEX Inc. | +27.2% | +7.2% | +1.8% | +84.1% | 3/5 short-term, 0/3 long-term |  | 0.20 |
| FLYW: Flywire Corp | +41.9% | −32.3% | −60.0% | — | 3/5 short-term, 0/3 long-term |  | -0.04 |
| RELY: Remitly Global, Inc. | +51.6% | −5.1% | −25.8% | — | 3/5 short-term, 0/3 long-term |  | 0.19 |
| CPAY: Corpay, Inc. | +46.6% | +74.1% | +49.6% | +136% | 2/5 short-term, 0/3 long-term |  | 0.41 |
| [PYPL](https://betterthanspy.com/research/pypl): PayPal Holdings, Inc. | −14.5% | +8.8% | −75.8% | +32.6% | 0/5 short-term, 0/3 long-term |  | -0.44 |
| GPN: Global Payments Inc. | +1.5% | −18.4% | −42.9% | +23.1% | 0/5 short-term, 0/3 long-term |  | -0.12 |
| FISV: Fiserv, Inc. | −59.4% | −53.6% | −53.9% | +1.6% | 0/5 short-term, 0/3 long-term |  | -0.21 |
| EEFT: Euronet Worldwide, Inc. | −24.3% | −16.6% | −45.3% | −17.7% | 0/5 short-term, 0/3 long-term |  | -0.16 |
| FIS: Fidelity National Information Services, Inc. | −41.4% | −16.2% | −65.0% | −38.8% | 0/5 short-term, 0/3 long-term |  | -0.44 |
| FOUR: Shift4 Payments, Inc. | −46.7% | −16.9% | −47.8% | — | 0/5 short-term, 0/3 long-term |  | 0.07 |

### How did V do year by year?

This table shows each investment's total return in every full calendar year since 2009, along with where V ranked among its popular alternatives each year.

- Among its popular alternatives, SHOP came out ahead of V most often, in nine of the ten years both traded.
- V finished ahead of the S&P 500 in ten of its 17 full calendar years, and behind it in each of the last two.
- Ranked against its popular alternatives each year, V finished in the top quarter in three of 17 years and in the bottom quarter in two. In 2025, it ranked 6 of 20.

| Year | V | SPY |
| --- | --- | --- |
| 2025 | +11.8% | +17.7% |
| 2024 | +22.3% | +24.9% |
| 2023 | +26.3% | +26.2% |
| 2022 | −3.4% | −18.2% |
| 2021 | −0.3% | +28.7% |
| 2020 | +17.1% | +18.3% |
| 2019 | +43.3% | +31.2% |
| 2018 | +16.5% | −4.6% |
| 2017 | +47.2% | +21.7% |
| 2016 | +1.4% | +12.0% |

## Risk and diversification

How V 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 V's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all five of V's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: V fell 20.4% from June 2025 to March 2026, while the S&P 500 rose 6.7%.
- The longest climb back to a previous high took 14 months, after V fell 32.0% from April to September 2010.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −51.9% | May 7, 2008 | January 20, 2009 | December 18, 2009 | −41.1% | 2008 financial crisis |
| −36.4% | February 19, 2020 | March 23, 2020 | August 28, 2020 | −33.7% | Covid crash |
| −32.0% | April 23, 2010 | September 13, 2010 | November 15, 2011 | −7.0% | 2010 flash crash |
| −28.6% | July 27, 2021 | September 30, 2022 | September 1, 2023 | −17.1% | 2022 bear market |
| −20.4% | June 11, 2025 | March 27, 2026 | August 6, 2026 | +6.7% |  |

### How did V do in stock market crashes?

This section measures how far V, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- None of its popular alternatives fell less than V in most of the crashes they both traded through.
- V began trading after the 2008 financial crisis, but nine of its popular alternatives lived through it. The mildest fall among them was GPN's 44.4%, against 55.2% for the S&P 500.
- V fell less than the S&P 500 in three of the eight crashes it has traded through. The clearest case was the 2011 euro debt crisis, when V fell 11.5% and the S&P 500 fell 17.9%.

| Crash | Dates | V fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | not trading | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −0.8% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −11.5% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −15.8% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −5.8% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −19.1% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −36.4% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −24.1% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −3.5% | −3.4% |

### How closely does V 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.

- Over the past 10 years, V captured 93% of the S&P 500's gains in rising months and 79% of its losses in falling months, with a beta of 0.87. That is a defensive profile: it gave up some of the market's upside in exchange for smaller losses.
- Only MA had a higher capture ratio (upside capture divided by downside capture) than V's 1.18, out of 13 popular alternatives with the same record.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| V: Visa Inc. (this page) | 93.0% | 79.0% | 0.87 |
| [JPM](https://betterthanspy.com/research/jpm): JPMorgan Chase & Co. | 117% | 103% | 1.09 |
| [SHOP](https://betterthanspy.com/research/shop): Shopify Inc. | 233% | 203% | 2.09 |
| [AXP](https://betterthanspy.com/research/axp): American Express Company | 117% | 113% | 1.16 |
| [XYZ](https://betterthanspy.com/research/xyz): Block, Inc. | 212% | 273% | 2.52 |
| [MA](https://betterthanspy.com/research/ma): Mastercard Incorporated | 105% | 88.0% | 0.95 |
| [COF](https://betterthanspy.com/research/cof): Capital One Financial Corporation | 115% | 146% | 1.39 |
| WEX: WEX Inc. | 114% | 190% | 1.37 |
| CPAY: Corpay, Inc. | 96.0% | 132% | 1.15 |
| [PYPL](https://betterthanspy.com/research/pypl): PayPal Holdings, Inc. | 106% | 186% | 1.25 |
| GPN: Global Payments Inc. | 76.0% | 139% | 0.98 |
| FISV: Fiserv, Inc. | 51.0% | 107% | 0.86 |
| EEFT: Euronet Worldwide, Inc. | 65.0% | 144% | 1.22 |
| FIS: Fidelity National Information Services, Inc. | 54.0% | 150% | 0.82 |

### What diversifies V?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in V into GLD would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+10.9% for V alone, +12.9% for the mix).
- FIX made money in three of the three calendar years in which V lost money.
- Among large ETFs, DXJ, SMH and XLE have moved largely independently of V over the past 5 years, with correlations of 0.41 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with V | 5Y return | Volatility | Sharpe | Rose in V's 3 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.41 | +225% | 19.1% | 1.34 | 2 of 3 |
| [SMH](https://betterthanspy.com/research/smh): VanEck Semiconductor ETF | 0.26 | +304% | 37.0% | 0.94 | 2 of 3 |
| [XLE](https://betterthanspy.com/research/xle): State Street Energy Select Sector SPDR ETF | 0.34 | +178% | 25.5% | 0.94 | 3 of 3 |
| [GLD](https://betterthanspy.com/research/gld): SPDR Gold Shares | 0.05 | +120% | 19.0% | 0.93 | 1 of 3 |
| PPA: Invesco Aerospace & Defense ETF | 0.49 | +112% | 18.9% | 0.89 | 3 of 3 |
| EWT: iShares MSCI Taiwan ETF | 0.29 | +147% | 24.3% | 0.87 | 2 of 3 |
| EDIV: State Street SPDR S&P Emerging Markets Dividend ETF | 0.37 | +69.0% | 13.8% | 0.83 | 1 of 3 |
| TDIV: First Trust NASDAQ Technology Dividend Index Fund | 0.49 | +115% | 21.3% | 0.83 | 1 of 3 |

## Common questions

### What was V's worst drawdown?

V's deepest decline since it began trading in 2008 was 51.9%, from May 2008 to January 2009. It took 11 months from the low to climb back to its old high. Because V launched in March 2008, that record does not include the dot-com bust.

### What were V's best and worst years?

Over 17 full calendar years, V's best year was 2009, when it returned 68.0%. Its worst was 2010, with a return of -18.9%.

### Is there a better investment than V?

Among V's popular alternatives, JPM earned more than V over the past 5 years with similar volatility: 17.3% a year at 24.3% volatility, against 13.2% a year at 22.9%. The S&P 500 matched V's return over the past 5 years (12.5% a year against 13.2%) with 25% less volatility.

### Is V more volatile than the S&P 500?

Yes. V's volatility over the past 5 years was 22.9%, 1.3 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, V's return lands within 22.9% 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 V's Sharpe ratio?

V's Sharpe ratio over the past 5 years was 0.66, against 0.78 for the S&P 500, so V 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 V with the S&P 500?

Over the past 5 years, V's monthly returns had a correlation of 0.61 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 V instead: the lower it is, the more that option would diversify a V holding.

### What are the best alternatives to V?

None of the 19 popular alternatives we compared outperformed V in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about V's strength than about its alternatives.

### Did V outperform the S&P 500?

V finished ahead of the S&P 500 (SPY) in ten of 17 full calendar years. In 2025, it returned +11.8%, against +17.7% for the index.

### How did V do in stock market crashes?

V fell less than the S&P 500 (SPY) in three of the eight major crashes it has traded through, and further in two. The clearest case was the 2011 euro debt crisis, when V fell 11.5% and the S&P 500 fell 17.9%.

### What diversifies V?

These had a low correlation with V over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.41), SMH (correlation 0.26) and XLE (correlation 0.34); among large stocks, CAH (correlation 0.39), CLS (correlation 0.32) and MCK (correlation 0.31). A correlation near zero means the two have moved largely independently.

## More research

- [JPMorgan Chase & Co. (JPM) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/jpm)
- [Shopify (SHOP) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/shop)
- [American Express (AXP) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/axp)
- [Block (XYZ) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/xyz)
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- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/nvda)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/aapl)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/goog)
- [Microsoft (MSFT) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/msft)

## Explore further

- Full page with charts: https://betterthanspy.com/research/v
- All research pages: https://betterthanspy.com/llms.txt
- Compare the entire market against V live: https://betterthanspy.com/?b=V