Relative Intelligence · Banks
How Wells Fargo & Company (WFC) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on WFC alone. It places WFC (Wells Fargo & Company) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where WFC stands in the market, and of the alternatives worth a closer look.
Period covered: WFC'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 WFC
Key findings
Not AI-generatedThese key findings are generated by our proprietary relative intelligence engine, directly from the data on this page.
- Right nowWFC has gone against the market, falling 3.4% over the past 3 months while the S&P 500 rose 2.5%. Its bank peers split over the past 3 months: TD (Toronto-Dominion Bank) rose 3.9%, while BAC (Bank of America) fell 16.7%. Consistency ↓
- Stock or market?Not a move of its own: the banks ETF KBE (State Street SPDR S&P Bank ETF) fell 4.5% over the past 3 months, with JPM (JPMorgan Chase & Co., down 2.9%) and BAC (Bank of America, down 16.7%), while the S&P 500 rose 2.5%. Its bank peers did not move as one over the past 3 months: TD (Toronto-Dominion Bank) rose 3.9%, while BAC fell 16.7%.
- Past 1 to 3 yearsOver the past year, WFC rose 1.1% against 15.6% for the S&P 500 and 16.9% for the Nasdaq 100. That said, the last two calendar years both went the same way: WFC rose 35.6% in 2025, against 15.6% for the S&P 500 and 16.9% for the Nasdaq 100. By year ↓
- Long termWFC turned $10,000 into $24,000 over the past decade, against $41,600 in the S&P 500. That said, the past 5 years have been the better stretch: WFC rose 85.1% against 80.3% for the S&P 500, after trailing over the decade. Growth of $10,000 ↓
- In a crashAcross seven sell-offs, WFC has typically fallen 1.3 times as far as the S&P 500. The Covid crash took 47.1% off WFC, against 33.7% for the S&P 500. That was more than JPM (JPMorgan Chase & Co., 42.5%) but less than C (Citigroup, 54.8%). Crash tests ↓
- DiversificationWFC is some diversification, but not a hedge: a correlation of 0.54 with the S&P 500 over 5 years and 0.57 with the total US market, more closely than 81% of stocks worth at least $300 million. Over 10 years, WFC's beta versus the S&P 500 was 1.13: in the S&P 500's rising months it gained 1.0 times as much as the index, and in falling months it lost 1.3 times as much. Market capture ↓
- Better options
- Nearby categories and themes
- PBAM (Private Bancorp of America, regional banks) and CBOE (Cboe Global Markets, capital markets) earned more than WFC with less volatility over the past 5 years. PBAM returned 27.5% a year at 18.9% volatility, against 13.1% a year at 29.5%.
- Whole market
- 182 of the 3,641 stocks and funds worth at least $500 million earned more than WFC 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 WFC have grown?
This chart tracks a hypothetical $10,000 investment in WFC over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of WFC over the same span and WFC'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 WFC at the end of September 1997 would have grown to $112,272 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of WFC, and TD finished highest, at $422,896.
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. 482 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of WFC; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- TD$422,896+4,129% total · +13.8% a year
- BMO$282,977+2,730% total · +12.2% a year
- JPM$189,407+1,794% total · +10.7% a year
- MS$148,562+1,386% 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
- WFC$112,272+1,023% total · +8.7% a year
- STT$96,326+863% total · +8.1% a year
- FITB$38,728+287% total · +4.8% a year
- KEY$17,746+77.5% total · +2.0% 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. 838 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of WFC; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- BNY$31,954+220% total · +26.2% a year
- GS$26,885+169% total · +21.9% a year
- STT$23,984+140% total · +19.1% a year
- JPM$22,905+129% total · +18.0% a year
- TD$21,998+120% total · +17.1% a year
- BMO$20,733+107% total · +15.7% a year
- WFC$19,481+94.8% total · +14.3% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- FITB$14,402+44.0% total · +7.6% a year
- KEY$11,834+18.3% total · +3.4% a year
WFC 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.
- WFC's deepest decline since it began trading in 1986 was 79.0%, from September 2008 to March 2009. It took about four years from the low to climb back to its old high.
- Over 29 full calendar years, WFC's best was 1997, when it returned 81.9%, and its worst was 2020, when it lost 41.6%. It lost money in seven of those years.
- WFC is 12.5% below its all-time high.
The company
- Market value
- $249B
- Industry
- Banks - Diversified
- Price history from
- October 1986
Returns
- Past 1 year
- +1.1%total return
- Past 3 years
- +126%+31.3% a year
- Past 5 years
- +85.1%+13.1% a year
- Past 10 years
- +140%+9.2% a year
- Best calendar year
- +81.9%1997
- Worst calendar year
- −41.6%2020
- Losing years
- 7 of 29full calendar years
Risk
- Volatility
- 29.5%typical yearly swing, 5 years
- Sharpe ratio
- 0.57return per unit of risk, 5 years
- Worst decline ever
- −79.0%Sep 2008 to Mar 2009
- From its all-time high
- −12.5%below the peak
WFC against the whole market
Where WFC ranks among every stock and fund, and what across the market has done better.
How does WFC rank among all stocks?
This section ranks WFC 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 WFC stacks up against its peers, these rankings show where it stands in the market as a whole.
- WFC is among the steadier stocks: its price swings rank in the top 24% of the 2,897 stocks worth at least $300 million, where the top is the calmest.
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 | WFC | Rank | Standing |
|---|---|---|---|
| 1-year return | +1.1% | 1,988 of 3,282 | bottom 40% |
| 3-year return | +126% | 745 of 3,016 | top 25% |
| 5-year return | +85.1% | 795 of 2,897 | top 27% |
| 10-year return | +140% | 1,124 of 2,201 | bottom 50% |
| Volatility, 5 years | 29.5% | 684 of 2,897 | top 24% |
| Sharpe ratio, 5 years | 0.57 | 767 of 2,897 | top 26% |
| Worst decline, past 10 years | −64.5% | 1,062 of 2,184 | top 49% |
What has beaten WFC 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). WFC sits where the dashed lines cross. Anything in the green box above and to the left earned more than WFC 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.
- 103 stocks and 79 ETFs worth at least $500 million sit in the green region: each earned more than WFC over the past 5 years with smaller price swings. That is 5% of the 3,641 screened.
- Among those with at least half WFC's swings, CAH has the best return for its risk: 41.7% a year at 24.7% volatility, 16% less than WFC's 29.5%, and a Sharpe ratio (return above cash per unit of volatility) of 1.54 against 0.57 for WFC.
- Among WFC's popular alternatives, BNY, TD and JPM are in the region. BNY earned 22.8% a year against 13.1% a year for WFC, at 24.4% volatility, 18% less than WFC's 29.5%.
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 WFC; faint dots are 87 more of the 182 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 WFC?
Investments that beat WFC over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among WFC's popular alternatives, JPM, TD and BNY earned more than WFC with less volatility over the past 5 years. JPM returned 17.3% a year at 24.3% volatility, against 13.1% a year at 29.5%.
- Looking beyond its popular alternatives, PBAM (regional banks) and CBOE (capital markets) earned more than WFC with less volatility over the past 5 years. PBAM returned 27.5% a year at 18.9% volatility, against 13.1% a year at 29.5%.
- Across the whole market, 182 of the 3,641 stocks and funds worth at least $500 million earned more than WFC with less volatility over the past 5 years, among them AAPL, WMT and JPM.
How this works
The table below lists investments that beat WFC 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 WFC'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 WFC 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 WFC'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× WFC's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than WFC'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 WFC?lower diversifies more | Expenseper year | |||
| WFCWells Fargo & Company · this page | +13.1% | 29.5% | 0.57 | −64.5% | +140% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.5% | 17.2% | 0.78 | −33.7% | +316% | 0.54 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against WFC. 9 of 23 passed at least one test. | |||||||||
 JPMJPMorgan Chase & Co. · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +17.3% | 24.3% | 0.78 | −43.6% | +534% | 0.80 | — | |
 TDThe Toronto-Dominion Bank · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +16.5% | 20.0% | 0.87 | −42.0% | +319% | 0.52 | — | |
 BNYBank of New York Mellon Corp · Banks | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +22.8% | 24.4% | 0.97 | −50.5% | +332% | 0.69 | — | |
 BMOBank of Montreal · Banks | Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +14.0% | 21.4% | 0.72 | −51.0% | +304% | 0.56 | — | |
 GSThe Goldman Sachs Group, Inc. · Capital Markets | Higher return, similar volatilityHigher Sharpe, smaller worst decline | +19.4% | 28.6% | 0.77 | −48.8% | +524% | 0.73 | — | |
 MSMorgan Stanley · Capital Markets | Higher return, similar volatilityHigher Sharpe, smaller worst decline | +16.2% | 28.9% | 0.67 | −51.3% | +630% | 0.75 | — | |
| 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 WFC's specific themes. 180 of 558 passed at least one test. | |||||||||
PBAMPrivate Bancorp of America, Inc. · Regional Banks | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +27.5% | 18.9% | 1.40 | −55.1% | +415% | 0.23 | — | |
CBOECboe Global Markets, Inc. · Capital Markets | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +22.0% | 25.1% | 0.92 | −43.2% | +481% | 0.01 | — | |
 RYRoyal Bank of Canada · Banks | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +17.5% | 18.2% | 0.98 | −40.0% | +361% | 0.58 | — | |
CHCOCity Holding Company · Regional Banks | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +15.1% | 22.8% | 0.73 | −32.3% | +272% | 0.56 | — | |
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% | 0.42 | — | |
OPPEWisdomTree European Opportunities Fund · European Equity | Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +13.8% | 15.7% | 0.91 | −39.3% | +224% | 0.51 | 0.58% | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 652 of 3,192 passed at least one test. | |||||||||
 KOThe Coca-Cola Company · Nonalcoholic Beverages | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +15.2% | 16.8% | 0.93 | −37.0% | +205% | 0.04 | — | |
 MRKMerck & Co., Inc. · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +16.1% | 24.8% | 0.73 | −43.4% | +245% | 0.05 | — | |
 CBChubb Limited · Property & Casualty Insurance | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +15.8% | 20.4% | 0.82 | −42.6% | +256% | 0.35 | — | |
 TRVThe Travelers Companies, Inc. · Property & Casualty Insurance | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +22.4% | 22.3% | 1.02 | −46.3% | +360% | 0.47 | — | |
IOOiShares Global 100 ETF · Global Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +15.6% | 17.2% | 0.94 | −31.4% | +357% | 0.46 | 0.40% | |
FDLFirst Trust Morningstar Dividend Leaders Index Fund · High Dividend Yield | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +14.6% | 14.5% | 1.02 | −41.4% | +207% | 0.49 | 0.43% | |
 BRK-ABerkshire Hathaway Inc. · Insurance | Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +13.5% | 17.2% | 0.83 | −30.4% | +281% | 0.37 | — | |
NHCNational HealthCare Corporation · Health Care Facilities | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +31.2% | 28.6% | 1.10 | −35.3% | +385% | 0.06 | — | |
What these numbers mean for WFC
- Annual return
- WFC returned 13.1% 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 $18,500. 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
- WFC's volatility over the past 5 years was 29.5%, 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, WFC's return lands within 29.5% 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
- WFC's Sharpe ratio over the past 5 years was 0.57, against 0.78 for the S&P 500, so WFC 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
- WFC's worst fall from a peak to a low over the past 10 years was 64.5%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 64.5% fall takes a 181% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, WFC's monthly returns had a correlation of 0.54 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 WFC instead: the lower it is, the more that option would diversify a WFC holding. Guide: Correlation and diversification →
Show all 182 stocks and funds worth at least $500 million that earned more than WFC 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 WFC | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | KOThe Coca-Cola Company · Nonalcoholic Beverages | Whole market | +15.2% | 16.8% | 0.93 | −37.0% | +205% | 0.04 | — |
| 2 | MRKMerck & Co., Inc. · Pharmaceuticals | Whole market | +16.1% | 24.8% | 0.73 | −43.4% | +245% | 0.05 | — |
| 3 | CBChubb Limited · Property & Casualty Insurance | Whole market | +15.8% | 20.4% | 0.82 | −42.6% | +256% | 0.35 | — |
| 4 | TRVThe Travelers Companies, Inc. · Property & Casualty Insurance | Whole market | +22.4% | 22.3% | 1.02 | −46.3% | +360% | 0.47 | — |
| 5 |  MSIMotorola Solutions, Inc. · Communications Equipment | Whole market | +15.2% | 23.6% | 0.72 | −32.8% | +639% | 0.20 | — |
| 6 |  FASTFastenal Company · Industrial Distribution | Whole market | +16.2% | 24.6% | 0.74 | −30.7% | +582% | 0.25 | — |
| 7 |  CAHCardinal Health, Inc. · Health Care Distribution | Whole market | +41.7% | 24.7% | 1.54 | −46.1% | +345% | 0.29 | — |
| 8 |  AAPLApple Inc. · Computer Hardware | Whole market | +19.1% | 28.0% | 0.77 | −38.5% | +1,194% | 0.21 | — |
| 9 | WRBW. R. Berkley Corporation · Property & Casualty Insurance | Whole market | +18.6% | 22.9% | 0.86 | −45.3% | +466% | 0.21 | — |
| 10 | LLoews Corporation · Property & Casualty Insurance | Whole market | +15.0% | 19.2% | 0.83 | −48.5% | +190% | 0.49 | — |
| 11 | RNRRenaissanceRe Holdings Ltd. · Insurance | Whole market | +20.6% | 27.9% | 0.81 | −40.7% | +222% | 0.06 | — |
| 12 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.6% | 17.2% | 0.94 | −31.4% | +357% | 0.46 | 0.40% |
| 13 | FDLFirst Trust Morningstar Dividend Leaders Index Fund · High Dividend Yield | Whole market | +14.6% | 14.5% | 1.02 | −41.4% | +207% | 0.49 | 0.43% |
| 14 |  WMTWalmart Inc. · Discount Retail | Whole market | +21.1% | 22.6% | 0.97 | −25.7% | +521% | 0.23 | — |
| 15 | THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance | Whole market | +15.2% | 22.9% | 0.73 | −40.1% | +309% | 0.28 | — |
| 16 | AXSAXIS Capital Holdings Limited · Property & Casualty Insurance | Whole market | +17.9% | 25.3% | 0.78 | −49.3% | +149% | 0.41 | — |
| 17 | CBOECboe Global Markets, Inc. · Capital Markets | Same or nearby category | +22.0% | 25.1% | 0.92 | −43.2% | +481% | 0.01 | — |
| 18 |  ABBVAbbVie Inc. · Specialty Pharmaceuticals | Whole market | +25.5% | 23.4% | 1.09 | −45.1% | +600% | 0.03 | — |
| 19 | WTMWhite Mountains Insurance Group, Ltd. · Insurance | Whole market | +15.4% | 23.6% | 0.73 | −40.2% | +174% | 0.38 | — |
| 20 | TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity | Whole market | +16.5% | 21.3% | 0.83 | −32.0% | +384% | 0.35 | 0.50% |
| 21 | RYRoyal Bank of Canada · Banks | Same or nearby category | +17.5% | 18.2% | 0.98 | −40.0% | +361% | 0.58 | — |
| 22 |  CVXChevron Corporation · Integrated Oil & Gas | Whole market | +19.7% | 25.2% | 0.84 | −55.8% | +243% | 0.36 | — |
| 23 |  COSTCostco Wholesale Corporation · Discount Retail | Whole market | +17.4% | 22.9% | 0.82 | −31.4% | +692% | 0.33 | — |
| 24 |  QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth | Whole market | +14.2% | 23.0% | 0.69 | −35.1% | +531% | 0.38 | 0.18% |
| 25 |  PMPhilip Morris International Inc. · Tobacco | Whole market | +21.3% | 23.4% | 0.94 | −42.9% | +240% | 0.26 | — |
| 26 |  CSCOCisco Systems, Inc. · Communications Equipment | Whole market | +16.9% | 26.1% | 0.73 | −42.0% | +361% | 0.11 | — |
| 27 |  NVSNovartis AG · Pharmaceuticals | Whole market | +17.4% | 20.7% | 0.89 | −26.8% | +234% | 0.08 | — |
| 28 |  MCKMcKesson Corporation · Health Care Distribution | Whole market | +37.8% | 25.1% | 1.41 | −38.1% | +582% | 0.22 | — |
| 29 |  RTXRTX Corporation · Aerospace & Defense | Whole market | +18.7% | 24.4% | 0.83 | −52.0% | +319% | 0.27 | — |
| 30 |  AMGNAmgen Inc. · Biotechnology | Whole market | +20.1% | 24.9% | 0.86 | −24.9% | +280% | 0.07 | — |
| 31 |  GILDGilead Sciences, Inc. · Biotechnology | Whole market | +22.8% | 24.9% | 0.95 | −30.5% | +202% | 0.03 | — |
| 32 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity | Same or nearby category | +16.9% | 11.1% | 1.48 | −32.4% | +194% | 0.43 | 0.40% |
| 33 | CHCOCity Holding Company · Regional Banks | Same or nearby category | +15.1% | 22.8% | 0.73 | −32.3% | +272% | 0.56 | — |
| 34 |  VGTVanguard Information Technology ETF · Technology Equity | Whole market | +18.1% | 26.1% | 0.77 | −35.1% | +753% | 0.36 | 0.09% |
| 35 | BFCBank First Corporation · Regional Banks | Same or nearby category | +18.7% | 27.4% | 0.76 | −39.8% | +485% | 0.33 | — |
| 36 |  BTIBritish American Tobacco p.l.c. · Tobacco | Whole market | +19.4% | 22.0% | 0.92 | −56.1% | +110% | 0.25 | — |
| 37 |  PGRThe Progressive Corporation · Property & Casualty Insurance | Whole market | +21.8% | 25.7% | 0.90 | −30.3% | +849% | 0.21 | — |
| 38 | NPKNational Presto Industries, Inc. · Aerospace & Defense | Whole market | +16.5% | 27.3% | 0.70 | −45.5% | +175% | 0.21 | — |
| 39 | CCBGCapital City Bank Group, Inc. · Regional Banks | Same or nearby category | +16.3% | 27.5% | 0.69 | −45.2% | +305% | 0.50 | — |
| 40 |  MFCManulife Financial Corporation · Life Insurance | Whole market | +23.3% | 24.0% | 1.00 | −57.5% | +386% | 0.59 | — |
| 41 |  GWWW.W. Grainger, Inc. · Industrial Distribution | Whole market | +26.7% | 24.9% | 1.08 | −41.6% | +670% | 0.44 | — |
| 42 |  CORCencora, Inc. · Health Care Distribution | Whole market | +23.6% | 22.8% | 1.05 | −32.4% | +403% | 0.39 | — |
| 43 |  KMIKinder Morgan, Inc. · Oil & Gas Midstream | Whole market | +20.1% | 22.3% | 0.94 | −55.1% | +159% | 0.50 | — |
| 44 |  CTASCintas Corporation · Business Services | Whole market | +17.1% | 23.1% | 0.80 | −48.4% | +834% | 0.31 | — |
| 45 |  MNSTMonster Beverage Corporation · Nonalcoholic Beverages | Whole market | +17.4% | 24.9% | 0.77 | −30.4% | +278% | 0.05 | — |
| 46 |  HLTHilton Worldwide Holdings Inc. · Hotels & Resorts | Whole market | +20.7% | 26.8% | 0.84 | −50.8% | +693% | 0.55 | — |
| 47 | GVALCambria Global Value ETF · Global Equity | Whole market | +14.2% | 18.7% | 0.81 | −46.8% | +168% | 0.39 | 0.68% |
| 48 |  AFLAflac Incorporated · Life Insurance | Whole market | +19.5% | 20.8% | 0.97 | −54.9% | +344% | 0.40 | — |
| 49 |  ALLThe Allstate Corporation · Property & Casualty Insurance | Whole market | +17.9% | 26.2% | 0.76 | −41.4% | +377% | 0.26 | — |
| 50 |  CCEPCoca-Cola Europacific Partners PLC · Food & Beverages | Whole market | +20.4% | 23.3% | 0.92 | −48.8% | +294% | 0.16 | — |
| 51 |  IXORIX Corporation · Diversified Financials | Whole market | +18.3% | 25.4% | 0.79 | −42.5% | +286% | 0.32 | — |
| 52 | ACGLArch Capital Group Ltd. · Property & Casualty Insurance | Whole market | +20.1% | 24.5% | 0.87 | −53.8% | +316% | 0.23 | — |
| 53 | HIGThe Hartford Insurance Group, Inc. · Property & Casualty Insurance | Whole market | +15.8% | 22.0% | 0.78 | −57.6% | +302% | 0.50 | — |
| 54 | TPYPTortoise North American Pipeline ETF · Energy Infrastructure | Whole market | +17.2% | 17.3% | 1.01 | −51.9% | +188% | 0.55 | 0.40% |
| 55 | IHGInterContinental Hotels Group PLC · Hotels & Resorts | Whole market | +21.7% | 26.6% | 0.88 | −59.3% | +387% | 0.62 | — |
| 56 | RSReliance Steel & Aluminum Co. · Metals & Mining | Whole market | +24.8% | 28.1% | 0.94 | −40.8% | +639% | 0.40 | — |
| 57 | SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity | Whole market | +18.1% | 20.9% | 0.91 | −30.9% | +485% | 0.42 | 0.13% |
| 58 | OEFiShares S&P 100 ETF · US Large-Cap Equity | Whole market | +14.1% | 17.8% | 0.83 | −31.4% | +360% | 0.49 | 0.20% |
| 59 | PKGPackaging Corporation of America · Packaging | Whole market | +16.6% | 25.9% | 0.72 | −38.2% | +302% | 0.42 | — |
| 60 |  CMCanadian Imperial Bank of Commerce · Banks | Same or nearby category | +19.5% | 21.6% | 0.94 | −47.3% | +409% | 0.59 | — |
| 61 | EHCEncompass Health Corporation · Health Care Facilities | Whole market | +18.7% | 26.9% | 0.77 | −39.5% | +354% | 0.23 | — |
| 62 | JPMJPMorgan Chase & Co. · Banks | Popular alternative | +17.3% | 24.3% | 0.78 | −43.6% | +534% | 0.80 | — |
| 63 | VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value | Whole market | +16.2% | 18.4% | 0.91 | −39.5% | +286% | 0.47 | 0.15% |
| 64 | PSOPearson plc · Education Services | Whole market | +18.7% | 27.9% | 0.76 | −58.4% | +159% | 0.31 | — |
| 65 | MSGSMadison Square Garden Sports Corp. · Entertainment | Whole market | +17.5% | 25.7% | 0.76 | −41.6% | +395% | 0.25 | — |
| 66 | NEUNewMarket Corporation · Specialty Chemicals | Whole market | +20.9% | 26.8% | 0.85 | −40.7% | +162% | 0.12 | — |
| 67 | TDThe Toronto-Dominion Bank · Banks | Popular alternative | +16.5% | 20.0% | 0.87 | −42.0% | +319% | 0.52 | — |
| 68 | DXJWisdomTree Japan Hedged Equity Fund · Japan Equity | Same or nearby category | +26.6% | 19.1% | 1.34 | −39.1% | +415% | 0.26 | 0.48% |
| 69 | BNYBank of New York Mellon Corp · Banks | Popular alternative | +22.8% | 24.4% | 0.97 | −50.5% | +332% | 0.69 | — |
| 70 |  GLDSPDR Gold Shares · Gold | Whole market | +17.1% | 19.0% | 0.93 | −26.4% | +206% | -0.08 | 0.40% |
| 71 | EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure | Whole market | +15.2% | 14.5% | 1.06 | −43.6% | +155% | 0.51 | 0.95% |
| 72 | RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity | Whole market | +16.6% | 25.1% | 0.74 | −33.7% | +559% | 0.39 | 0.40% |
| 73 | GCOWPacer Global Cash Cows Dividend ETF · Global Equity | Whole market | +14.4% | 13.6% | 1.06 | −37.6% | +170% | 0.35 | 0.60% |
| 74 | EWTiShares MSCI Taiwan ETF · International Equity | Same or nearby category | +19.8% | 24.3% | 0.87 | −38.9% | +448% | 0.26 | 0.59% |
| 75 |  ORLYO'Reilly Automotive, Inc. · Specialty Retail | Whole market | +15.8% | 23.4% | 0.75 | −42.0% | +394% | 0.21 | — |
| 76 | IVLUiShares MSCI Intl Value Factor ETF · International Large-Cap Value | Same or nearby category | +14.6% | 16.5% | 0.91 | −41.8% | +172% | 0.44 | 0.31% |
| 77 |  ETREntergy Corporation · Electric Utilities | Whole market | +19.8% | 22.4% | 0.92 | −42.0% | +326% | 0.23 | — |
| 78 |  XOMExxonmobil Holdings Corporation · Integrated Oil & Gas | Whole market | +27.5% | 26.5% | 1.05 | −61.0% | +216% | 0.31 | — |
| 79 | DBJPXtrackers MSCI Japan Hedged Equity ETF · Japan Equity | Same or nearby category | +20.9% | 19.3% | 1.09 | −31.3% | +339% | 0.29 | 0.45% |
| 80 | ATOAtmos Energy Corporation · Gas Utilities | Whole market | +15.9% | 18.5% | 0.90 | −32.9% | +207% | 0.34 | — |
| 81 | CRAKVanEck Oil Refiners ETF · Oil Refining | Whole market | +19.5% | 20.9% | 0.96 | −58.8% | +325% | 0.29 | 0.61% |
| 82 | IDOGALPS International Sector Dividend Dogs ETF · International Dividend Equity | Same or nearby category | +14.1% | 15.6% | 0.93 | −37.3% | +180% | 0.37 | 0.50% |
| 83 | NANRState Street SPDR S&P North American Natural Resources ETF · Natural Resources Equity | Whole market | +17.1% | 22.6% | 0.82 | −49.1% | +238% | 0.37 | 0.35% |
| 84 | THFFFirst Financial Corporation · Regional Banks | Same or nearby category | +16.2% | 26.2% | 0.71 | −42.8% | +164% | 0.46 | — |
| 85 | NINiSource Inc · Gas Utilities | Whole market | +15.5% | 20.3% | 0.81 | −30.9% | +166% | 0.29 | — |
| 86 | TRSTTrustCo Bank Corp NY · Regional Banks | Same or nearby category | +15.5% | 26.8% | 0.67 | −49.5% | +127% | 0.45 | — |
| 87 |  SHELShell plc · Integrated Oil & Gas | Whole market | +21.4% | 24.8% | 0.91 | −67.2% | +236% | 0.34 | — |
| 88 |  WELLWelltower Inc. · Healthcare REITs | Whole market | +27.0% | 23.8% | 1.13 | −63.3% | +378% | 0.30 | — |
| 89 |  TTETotalEnergies SE · Integrated Oil & Gas | Whole market | +18.8% | 25.8% | 0.80 | −59.6% | +237% | 0.22 | — |
| 90 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +24.0% | 18.8% | 1.25 | −75.2% | +337% | 0.59 | — |
| 91 |  EEni S.p.A. · Integrated Oil & Gas | Whole market | +23.7% | 25.6% | 0.96 | −61.4% | +283% | 0.33 | — |
| 92 | RCBCRiver City Bank · Regional Banks | Same or nearby category | +15.3% | 27.2% | 0.66 | −45.5% | +354% | 0.36 | — |
| 93 |  WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery | Whole market | +25.2% | 26.3% | 0.99 | −64.1% | +258% | 0.53 | — |
| 94 |  XLEState Street Energy Select Sector SPDR ETF · Energy Equity | Whole market | +22.7% | 25.5% | 0.94 | −66.8% | +190% | 0.42 | 0.08% |
| 95 |  TJXThe TJX Companies, Inc. · Apparel Retail | Whole market | +19.8% | 22.3% | 0.93 | −42.5% | +357% | 0.27 | — |
| 96 |  MOAltria Group, Inc. · Tobacco | Whole market | +18.3% | 21.4% | 0.90 | −53.7% | +133% | 0.27 | — |
| 97 |  TTTrane Technologies plc · Building Products | Whole market | +21.4% | 27.7% | 0.84 | −40.5% | +927% | 0.36 | — |
| 98 |  EPDEnterprise Products Partners L.P. · Oil & Gas Midstream | Whole market | +16.3% | 17.1% | 0.98 | −58.1% | +178% | 0.51 | — |
| 99 | RGAReinsurance Group of America, Incorporated · Insurance | Whole market | +20.5% | 27.3% | 0.82 | −65.8% | +206% | 0.46 | — |
| 100 | OHIOmega Healthcare Investors, Inc. · Healthcare REITs | Whole market | +17.6% | 24.3% | 0.79 | −66.9% | +208% | 0.21 | — |
WFC against its popular alternatives
The investments people most often weigh against WFC, compared period by period and year by year.
How do WFC'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 WFC, which divides the map into what did better or worse on each measure.
- Eight of the 23 popular alternatives, led by BNY, GS and JPM, were both more rewarding and calmer than WFC over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, WFC returned 13.1% a year, more than the S&P 500's 12.5%, with higher volatility (29.5% against 17.2%).
Green points earned more than WFC 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% |
| GS The Goldman Sachs Group, Inc. | +19.4% | 28.6% |
| JPM JPMorgan Chase & Co. | +17.3% | 24.3% |
| TD The Toronto-Dominion Bank | +16.5% | 20.0% |
| MS Morgan Stanley | +16.2% | 28.9% |
| C Citigroup Inc. | +15.3% | 29.4% |
| STT State Street Corporation | +14.6% | 29.9% |
| BMO Bank of Montreal | +14.0% | 21.4% |
| V Visa Inc. | +13.2% | 22.9% |
| WFC This pageWells Fargo & Company | +13.1% | 29.5% |
| AXP American Express Company | +13.1% | 29.2% |
| MA Mastercard Incorporated | +12.7% | 23.8% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.5% | 17.2% |
| MTB M&T Bank Corporation | +10.3% | 29.7% |
| CFG Citizens Financial Group, Inc. | +9.8% | 33.6% |
| NTRS Northern Trust Corporation | +8.9% | 29.3% |
| RF Regions Financial Corporation | +7.7% | 30.9% |
| FITB Fifth Third Bancorp | +7.2% | 31.4% |
| COF Capital One Financial Corporation | +5.8% | 35.1% |
| PNC The PNC Financial Services Group, Inc. | +4.7% | 26.8% |
| BAC Bank of America Corporation | +4.0% | 26.6% |
| USB U.S. Bancorp | +3.6% | 29.6% |
| HBAN Huntington Bancshares Incorporated | +3.2% | 31.2% |
| KEY KeyCorp | +2.4% | 37.6% |
| TFC Truist Financial Corporation | −0.9% | 31.6% |
Has WFC consistently beaten its popular alternatives?
This section compares WFC 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 WFC helps separate lasting outperformance from a single strong stretch.
- Seven of the 23 popular alternatives, led by TD, JPM and BNY, outperformed WFC in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- TD and JPM outperformed WFC in every long-term period and in all but one short-term period, the most consistent record in the group.
- BNY, TD and JPM earned more for the risk they took than WFC (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
A green cell means the alternative earned more than WFC 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 | ||
| WFC Wells Fargo & Company (this page) | — | −0.2% | −3.4% | +4.2% | −11.4% | +1.1% | +126% | +85.1% | +140% | 29.5% | 0.57 | −64.5% | — | $249B | — |
| TD QualifiedThe Toronto-Dominion Bank | 5/5 short3/3 longAll-weather | +2.7% | +3.9% | +21.3% | +36.3% | +59.4% | +147% | +114% | +319% | 20.0% | 0.87 | −42.0% | — | $211B | — |
| JPM QualifiedJPMorgan Chase & Co. | 4/5 short3/3 longAll-weather | −0.5% | −2.9% | +8.5% | +5.4% | +16.6% | +154% | +122% | +534% | 24.3% | 0.78 | −43.6% | — | $895B | — |
| BNY QualifiedBank of New York Mellon Corp | 3/5 short3/3 long | −3.2% | −9.0% | +7.8% | +25.7% | +38.1% | +277% | +179% | +332% | 24.4% | 0.97 | −50.5% | — | $99B | — |
| BMO QualifiedBank of Montreal | 3/5 short3/3 long | −2.2% | −4.2% | +14.7% | +32.0% | +40.2% | +150% | +92.4% | +304% | 21.4% | 0.72 | −51.0% | — | $118B | — |
| STT QualifiedState Street Corporation | 3/5 short3/3 long | −6.4% | −8.9% | +11.3% | +32.3% | +51.8% | +186% | +97.6% | +213% | 29.9% | 0.61 | −59.6% | — | $46B | — |
| FITB QualifiedFifth Third Bancorp | 4/5 short2/3 long | +1.7% | −6.9% | +6.9% | +14.3% | +31.9% | +157% | +41.4% | +255% | 31.4% | 0.38 | −64.0% | — | $48B | — |
| KEY QualifiedKeyCorp | 3/5 short2/3 long | +3.6% | −7.4% | −1.9% | +4.1% | +26.3% | +147% | +12.5% | +146% | 37.6% | 0.26 | −65.2% | — | $23B | — |
| MS Financial - Capital MarketsMorgan Stanley | 2/5 short3/3 long | −8.1% | −15.3% | −2.7% | +2.8% | +19.0% | +181% | +112% | +630% | 28.9% | 0.67 | −51.3% | — | $290B | — |
| GS Financial - Capital MarketsThe Goldman Sachs Group, Inc. | 2/5 short3/3 long | −6.1% | −18.4% | −3.8% | −1.1% | +22.1% | +218% | +143% | +524% | 28.6% | 0.77 | −48.8% | — | $260B | — |
| C Banks - DiversifiedCitigroup Inc. | 2/5 short3/3 long | −7.5% | −6.9% | −4.6% | +4.8% | +29.9% | +245% | +104% | +234% | 29.4% | 0.63 | −56.5% | — | $206B | — |
| CFG Banks - RegionalCitizens Financial Group, Inc. | 2/5 short2/3 long | −0.4% | −9.4% | +1.5% | +12.2% | +32.8% | +212% | +59.4% | +261% | 33.6% | 0.45 | −65.6% | — | $27B | — |
| COF Financial - Credit ServicesCapital One Financial Corporation | 2/5 short2/3 long | +1.4% | +1.4% | +2.8% | −17.0% | −6.3% | +136% | +32.3% | +221% | 35.1% | 0.34 | −60.3% | — | $125B | — |
| NTRS Asset ManagementNorthern Trust Corporation | 2/5 short2/3 long | −4.4% | −6.8% | −0.3% | +20.8% | +34.9% | +181% | +53.5% | +206% | 29.3% | 0.44 | −50.0% | — | $30B | — |
| AXP Financial - Credit ServicesAmerican Express Company | 1/5 short2/3 long | +6.9% | −6.5% | −1.8% | −12.0% | −6.6% | +133% | +84.7% | +455% | 29.2% | 0.57 | −49.6% | — | $219B | — |
| MA Financial - Credit ServicesMastercard Incorporated | 5/5 short1/3 long | +14.1% | +19.2% | +24.5% | +13.2% | +11.5% | +68.0% | +81.9% | +551% | 23.8% | 0.62 | −41.0% | — | $555B | — |
| V Financial - Credit ServicesVisa Inc. | 5/5 short1/3 long | +14.4% | +17.5% | +33.6% | +20.3% | +20.9% | +83.1% | +86.1% | +435% | 22.9% | 0.66 | −36.4% | — | $774B | — |
| RF Banks - RegionalRegions Financial Corporation | 3/5 short1/3 long | +1.8% | −7.0% | +2.6% | +6.1% | +22.6% | +128% | +45.0% | +285% | 30.9% | 0.40 | −60.8% | — | $24B | — |
| BAC Banks - DiversifiedBank of America Corporation | 2/5 short1/3 long | −9.1% | −16.7% | −2.9% | −7.2% | +2.1% | +115% | +21.4% | +281% | 26.6% | 0.28 | −49.0% | — | $357B | — |
| PNC Banks - RegionalThe PNC Financial Services Group, Inc. | 2/5 short1/3 long | −0.2% | −9.9% | +1.9% | +10.2% | +28.6% | +129% | +25.8% | +237% | 26.8% | 0.31 | −49.6% | — | $90B | — |
| MTB Banks - RegionalM&T Bank Corporation | 2/5 short1/3 long | −0.3% | −10.6% | +3.8% | +11.5% | +25.9% | +119% | +63.1% | +148% | 29.7% | 0.48 | −53.0% | — | $32B | — |
| USB Banks - RegionalU.S. Bancorp | 4/5 short0/3 long | +1.9% | −6.0% | +8.0% | +14.5% | +31.7% | +118% | +19.1% | +97.4% | 29.6% | 0.27 | −52.1% | — | $94B | — |
| TFC Banks - RegionalTruist Financial Corporation | 3/5 short0/3 long | +0.7% | −5.5% | −3.0% | +0.4% | +15.8% | +108% | −4.4% | +87.1% | 31.6% | 0.13 | −59.1% | — | $59B | — |
| HBAN Banks - RegionalHuntington Bancshares Incorporated | 2/5 short0/3 long | −0.2% | −13.5% | −5.1% | −7.8% | +2.5% | +85.1% | +17.1% | +135% | 31.2% | 0.26 | −55.0% | — | $32B | — |
How did WFC do year by year?
This table shows each investment's total return in every full calendar year since 1997, along with where WFC ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with WFC and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- Ranked against its popular alternatives each year, WFC finished in the top quarter in seven of 29 years and in the bottom quarter in three. In 2025, it ranked 11 of 24.
- WFC finished ahead of the S&P 500 in 15 of its 29 full calendar years, and ahead of it in each of the last two.
- Among its popular alternatives, V came out ahead of WFC most often, in 11 of the 17 years both traded.
Newest year first. Green marks a year in which the fund came out ahead of WFC; gray means the two finished within a fraction of a point. The rank row places WFC among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of WFC | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| WFC This pageWells Fargo & Company | — | +35.6% | +46.5% | +22.9% | −11.9% | +61.1% | −41.6% | +21.4% | −21.8% | +13.2% | +4.7% | +1.8% | +24.1% | +36.7% | +27.3% | −9.6% | +15.7% | −6.3% | +1.7% | −12.1% | +16.9% | +4.5% | +9.0% | +29.5% | +10.3% | −20.2% | +40.5% | +3.3% | +5.1% | +81.9% |
| Rank among alternatives | Top quarter in 7 of 29 | 11 of 24 | 4 of 24 | 6 of 24 | 9 of 24 | 2 of 24 | 24 of 24 | 22 of 24 | 17 of 24 | 18 of 24 | 23 of 24 | 9 of 24 | 2 of 23 | 13 of 23 | 13 of 23 | 11 of 23 | 10 of 23 | 18 of 23 | 1 of 22 | 11 of 22 | 13 of 21 | 10 of 21 | 13 of 21 | 14 of 21 | 6 of 21 | 16 of 21 | 8 of 21 | 10 of 20 | 12 of 20 | 4 of 20 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 13 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% |
| TD The Toronto-Dominion Bank | 14 of 29 | +85.3% | −13.4% | +4.5% | −12.2% | +41.3% | +5.6% | +17.5% | −12.1% | +22.9% | +30.9% | −14.9% | +5.0% | +16.1% | +16.8% | +4.1% | +22.7% | +85.4% | −46.8% | +20.4% | +16.1% | +30.7% | +29.7% | +61.4% | −11.7% | −7.2% | +11.2% | +58.4% | −2.9% | +52.7% |
| JPM JPMorgan Chase & Co. | 18 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% |
| BNY Bank of New York Mellon Corp | 15 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% |
| BMO Bank of Montreal | 15 of 29 | +39.6% | +3.0% | +14.6% | −12.4% | +46.9% | +3.3% | +23.9% | −14.9% | +15.4% | +32.9% | −16.8% | +10.4% | +13.7% | +17.3% | −0.3% | +13.7% | +121% | −51.9% | −0.4% | +9.4% | +20.4% | +21.0% | +62.9% | +23.0% | −9.6% | +62.5% | −10.8% | −6.1% | +44.8% |
| STT State Street Corporation | 14 of 29 | +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% |
| FITB Fifth Third Bancorp | 12 of 29 | +14.8% | +27.2% | +10.4% | −21.9% | +62.4% | −5.4% | +35.2% | −20.3% | +15.1% | +37.9% | +1.3% | −0.8% | +41.9% | +22.5% | −11.3% | +51.2% | +18.9% | −65.6% | −35.5% | +13.0% | −17.3% | −17.9% | +3.0% | −3.0% | +4.1% | +23.8% | +4.3% | +32.4% | +97.8% |
| KEY KeyCorp | 8 of 29 | +26.2% | +25.4% | −11.6% | −21.6% | +45.9% | −14.5% | +42.7% | −24.6% | +12.7% | +42.1% | −3.2% | +5.5% | +62.4% | +12.0% | −11.6% | +60.4% | −34.0% | −61.6% | −35.5% | +19.9% | +0.9% | +20.1% | +22.1% | +8.1% | −8.8% | +33.9% | −28.4% | −7.1% | +44.5% |
| MS Morgan Stanley | 13 of 29 | +45.2% | +39.7% | +13.9% | −10.3% | +46.6% | +38.1% | +32.7% | −22.8% | +26.6% | +36.1% | −16.7% | +25.0% | +65.4% | +27.6% | −43.9% | −7.5% | +88.3% | −68.8% | −22.1% | +46.3% | +4.6% | −2.0% | +48.4% | −27.0% | −28.1% | +12.3% | +103% | +21.9% | +80.3% |
| GS The Goldman Sachs Group, Inc. | 14 of 26 | +56.6% | +52.0% | +15.9% | −7.9% | +47.6% | +17.4% | +40.5% | −33.5% | +7.4% | +34.9% | −5.8% | +10.8% | +40.8% | +43.4% | −45.6% | +0.5% | +103% | −60.4% | +8.6% | +57.4% | +23.9% | +6.5% | +46.3% | −26.0% | −12.8% | +14.1% | — | — | — |
| C Citigroup Inc. | 11 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% |
| CFG Citizens Financial Group, Inc. | 6 of 11 | +38.6% | +38.0% | −11.0% | −13.4% | +37.1% | −6.7% | +41.9% | −27.5% | +19.9% | +38.7% | +7.1% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| COF Capital One Financial Corporation | 14 of 29 | +37.6% | +38.3% | +44.3% | −34.6% | +49.3% | −2.7% | +38.6% | −22.8% | +16.3% | +23.8% | −10.9% | +9.4% | +34.2% | +37.5% | −0.1% | +11.6% | +24.1% | −30.3% | −38.4% | −11.0% | +2.7% | +37.6% | +107% | −44.8% | −17.8% | +36.9% | +26.0% | +113% | +51.5% |
| NTRS Northern Trust Corporation | 17 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% |
| AXP American Express Company | 16 of 29 | +26.0% | +60.3% | +28.7% | −8.5% | +36.9% | −1.1% | +32.5% | −2.6% | +36.2% | +8.6% | −24.2% | +3.7% | +59.8% | +23.6% | +11.6% | +7.8% | +126% | −63.7% | −13.4% | +19.1% | +4.3% | +17.6% | +37.7% | +0.2% | −34.5% | −0.3% | +63.3% | +15.7% | +59.9% |
| MA Mastercard Incorporated | 12 of 19 | +9.0% | +24.2% | +23.4% | −2.7% | +1.2% | +20.2% | +59.2% | +25.3% | +47.7% | +6.9% | +13.8% | +3.7% | +70.7% | +32.1% | +66.7% | −12.2% | +79.8% | −33.4% | +119% | — | — | — | — | — | — | — | — | — | — |
| V Visa Inc. | 11 of 17 | +11.8% | +22.3% | +26.3% | −3.4% | −0.3% | +17.1% | +43.3% | +16.5% | +47.2% | +1.4% | +19.1% | +18.7% | +48.0% | +50.5% | +45.4% | −18.9% | +68.0% | — | — | — | — | — | — | — | — | — | — | — | — |
| RF Regions Financial Corporation | 12 of 29 | +20.2% | +27.0% | −5.7% | +2.4% | +39.4% | −1.6% | +33.3% | −20.6% | +22.9% | +53.7% | −7.0% | +8.7% | +40.2% | +66.7% | −38.1% | +32.7% | −31.6% | −64.0% | −33.7% | +15.0% | 0.0% | +26.8% | +21.3% | +21.3% | +20.5% | +23.2% | −32.4% | +2.0% | +71.9% |
| BAC Bank of America Corporation | 11 of 29 | +28.0% | +33.9% | +4.9% | −23.8% | +49.6% | −11.6% | +46.1% | −15.0% | +35.7% | +33.4% | −4.8% | +15.7% | +34.5% | +109% | −58.1% | −11.2% | +7.6% | −63.1% | −18.9% | +20.8% | +2.4% | +21.5% | +20.1% | +14.6% | +42.7% | −4.5% | −14.0% | +1.2% | +27.3% |
| PNC The PNC Financial Services Group, Inc. | 13 of 29 | +12.2% | +29.4% | +2.7% | −18.6% | +38.2% | −2.8% | +40.9% | −17.0% | +26.0% | +25.8% | +6.8% | +20.3% | +36.4% | +3.6% | −3.1% | +15.8% | +10.2% | −22.2% | −8.3% | +23.6% | +11.7% | +8.9% | +36.2% | −22.5% | −20.7% | +70.4% | −15.0% | −2.2% | +56.7% |
| MTB M&T Bank Corporation | 11 of 29 | +10.4% | +41.7% | −1.7% | −2.9% | +24.3% | −22.2% | +21.6% | −14.6% | +10.8% | +32.2% | −1.3% | +10.4% | +21.3% | +33.2% | −9.1% | +34.8% | +23.1% | −27.0% | −31.5% | +14.2% | +2.8% | +11.6% | +25.6% | +10.4% | +8.6% | +66.3% | −19.4% | +12.5% | +62.8% |
| USB U.S. Bancorp | 13 of 29 | +16.4% | +15.6% | +4.8% | −19.1% | +24.3% | −17.9% | +33.6% | −12.4% | +6.6% | +23.4% | −2.8% | +13.8% | +29.6% | +20.9% | +2.3% | +20.7% | −9.0% | −16.6% | −8.0% | +26.3% | −0.5% | +10.6% | +45.3% | +5.3% | −6.8% | +13.2% | −30.5% | +64.5% | +90.1% |
| TFC Truist Financial Corporation | 9 of 29 | +19.1% | +23.7% | −8.6% | −23.5% | +26.1% | −11.1% | +34.6% | −10.2% | +8.7% | +28.4% | −0.1% | +6.9% | +32.7% | +18.6% | −1.9% | +5.9% | −2.0% | −4.5% | −27.2% | +8.9% | +3.4% | +12.8% | +8.1% | +5.6% | −0.4% | +40.6% | −30.6% | +28.5% | +81.3% |
| HBAN Huntington Bancshares Incorporated | 11 of 29 | +10.8% | +33.7% | −4.6% | −4.5% | +27.1% | −11.2% | +31.8% | −15.2% | +12.9% | +23.0% | +7.5% | +11.6% | +54.1% | +19.5% | −18.4% | +89.5% | −51.5% | −44.2% | −34.3% | +4.3% | −0.4% | +13.4% | +24.3% | +12.5% | +11.0% | −22.1% | −10.1% | −5.8% | +54.1% |
Risk and diversification
How WFC 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 WFC's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents WFC'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 four of WFC's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: WFC fell 64.5% from January 2018 to October 2020, while the S&P 500 rose 21.3%.
- The slowest recovery came after WFC fell 79.0% from September 2008 to March 2009; it did not regain that peak until March 2013, four years later.
Green means WFC fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | WFC fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2008 financial crisis | −79.0% | −44.1% | Sep 2008 | Mar 2009 | 6 months | Mar 2013 | 4 years |
| Late-2018 sell-off | −64.5% | +21.3% | Jan 2018 | Oct 2020 | 2.8 years | Feb 2022 | 16 months |
| 2008 financial crisis | −43.6% | −21.2% | Oct 2007 | Jul 2008 | 9 months | Sep 2008 | 2 months |
| No named crash | −38.8% | — | Jun 1990 | Oct 1990 | 4 months | Feb 1991 | 4 months |
| 2022 bear market | −37.1% | −11.8% | Feb 2022 | Mar 2023 | 13 months | Mar 2024 | 12 months |
How did WFC do in stock market crashes?
This section measures how far WFC, 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.
- WFC fell further than the S&P 500 in eight of the ten crashes it has traded through. The clearest case was the 2008 financial crisis, when WFC fell 79.0% and the S&P 500 fell 55.2%.
- Among its popular alternatives, V held up best, falling less than WFC in seven of the eight 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 WFC.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| WFC This pageWells Fargo & Company | — | −12.4% | −36.3% | −47.1% | −20.1% | −13.5% | −20.9% | −21.1% | −1.2% | −79.0% | −29.2% |
| SPY S&P 500State Street SPDR S&P 500 ETF | 8 of 10 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| TD The Toronto-Dominion Bank | 8 of 10 | −6.7% | −29.0% | −41.0% | −20.9% | −5.5% | −18.1% | −19.6% | 0.0% | −63.4% | −44.1% |
| JPM JPMorgan Chase & Co. | 5 of 10 | −5.4% | −37.9% | −42.5% | −21.3% | −5.6% | −22.0% | −32.1% | −0.1% | −67.7% | −74.0% |
| BNY Bank of New York Mellon Corp | 6 of 10 | −11.4% | −40.5% | −40.1% | −16.2% | −5.4% | −27.0% | −30.9% | −0.5% | −62.4% | −62.6% |
| BMO Bank of Montreal | 8 of 10 | −5.5% | −30.5% | −49.4% | −23.5% | −6.2% | −18.9% | −16.4% | 0.0% | −68.5% | −26.5% |
| STT State Street Corporation | 2 of 10 | −14.6% | −41.4% | −45.1% | −32.3% | −8.3% | −34.1% | −28.3% | −1.9% | −82.3% | −50.7% |
| FITB Fifth Third Bancorp | 2 of 10 | −22.1% | −36.5% | −60.9% | −23.8% | −6.1% | −34.9% | −28.9% | −2.3% | −96.9% | −22.0% |
| KEY KeyCorp | 2 of 10 | −34.2% | −40.6% | −58.8% | −32.9% | −7.7% | −32.5% | −31.7% | −1.1% | −82.9% | −25.5% |
| MS Morgan Stanley | 4 of 10 | −8.2% | −32.4% | −50.6% | −24.6% | −6.7% | −43.9% | −47.7% | 0.0% | −86.2% | −72.0% |
| GS The Goldman Sachs Group, Inc. | 5 of 10 | −9.7% | −30.5% | −42.8% | −33.3% | −5.3% | −31.2% | −34.3% | 0.0% | −78.8% | −54.7% |
| C Citigroup Inc. | 2 of 10 | −11.7% | −39.2% | −54.8% | −33.1% | −6.7% | −40.3% | −42.6% | −1.0% | −97.7% | −52.7% |
| CFG Citizens Financial Group, Inc. | 1 of 6 | −19.5% | −39.7% | −60.5% | −31.3% | −8.3% | −32.8% | — | — | — | — |
| COF Capital One Financial Corporation | 2 of 10 | −11.1% | −42.6% | −58.8% | −28.2% | −9.6% | −28.5% | −24.2% | −2.1% | −87.7% | −65.6% |
| NTRS Northern Trust Corporation | 5 of 10 | −10.7% | −36.0% | −39.0% | −27.2% | −8.1% | −29.9% | −25.4% | 0.0% | −60.5% | −65.2% |
| AXP American Express Company | 4 of 10 | −9.8% | −31.6% | −49.6% | −20.7% | −8.6% | −36.6% | −18.1% | −4.5% | −83.4% | −59.1% |
| MA Mastercard Incorporated | 7 of 9 | −4.0% | −28.2% | −41.0% | −21.9% | −5.8% | −20.4% | −13.8% | −3.1% | −62.7% | — |
| V Visa Inc. | 7 of 8 | −3.5% | −24.1% | −36.4% | −19.1% | −5.8% | −15.8% | −11.5% | −0.8% | — | — |
| RF Regions Financial Corporation | 3 of 10 | −12.6% | −27.1% | −55.1% | −34.8% | −7.0% | −33.7% | −52.9% | −2.7% | −91.3% | −24.4% |
| BAC Bank of America Corporation | 2 of 10 | −12.4% | −38.7% | −47.8% | −26.4% | −6.9% | −37.8% | −45.2% | −0.6% | −93.4% | −36.3% |
| PNC The PNC Financial Services Group, Inc. | 5 of 10 | −10.4% | −34.0% | −47.8% | −23.2% | −5.4% | −20.8% | −24.1% | −0.4% | −76.7% | −49.6% |
| MTB M&T Bank Corporation | 6 of 10 | −9.4% | −18.0% | −47.6% | −21.1% | −5.7% | −23.2% | −23.1% | −0.2% | −69.6% | −23.9% |
| USB U.S. Bancorp | 3 of 10 | −19.7% | −36.8% | −47.2% | −20.4% | −7.5% | −17.7% | −24.7% | −1.2% | −76.1% | −42.8% |
| TFC Truist Financial Corporation | 4 of 10 | −26.3% | −35.8% | −53.5% | −20.1% | −6.8% | −24.4% | −27.2% | 0.0% | −66.6% | −24.8% |
| HBAN Huntington Bancshares Incorporated | 2 of 10 | −23.0% | −31.3% | −49.6% | −28.3% | −6.1% | −31.7% | −26.2% | −3.6% | −93.9% | −37.2% |
How closely does WFC 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 WFC with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- 20 of the 23 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than WFC's 0.75, led by MA, V and JPM.
- V took just 79% of the S&P 500's losses, against 129% for WFC, while still keeping 93% of its gains.
- Over the past 10 years, WFC captured 96% of the S&P 500's gains in rising months and 129% of its losses in falling months, with a beta of 1.13. Its share of the market's losses was larger than its share of the gains.
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 WFC's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| WFC This pageWells Fargo & Company | 96% | 129% | 0.75 | 1.13 |
| MA Mastercard Incorporated | 105% | 88% | 1.20 | 0.95 |
| V Visa Inc. | 93% | 79% | 1.18 | 0.87 |
| JPM JPMorgan Chase & Co. | 117% | 103% | 1.14 | 1.09 |
| TD The Toronto-Dominion Bank | 89% | 80% | 1.10 | 0.88 |
| MS Morgan Stanley | 142% | 137% | 1.04 | 1.39 |
| AXP American Express Company | 117% | 113% | 1.03 | 1.16 |
| GS The Goldman Sachs Group, Inc. | 136% | 133% | 1.02 | 1.39 |
| BNY Bank of New York Mellon Corp | 115% | 120% | 0.96 | 1.08 |
| BMO Bank of Montreal | 104% | 112% | 0.93 | 1.12 |
| FITB Fifth Third Bancorp | 102% | 114% | 0.89 | 1.22 |
| RF Regions Financial Corporation | 113% | 127% | 0.89 | 1.26 |
| BAC Bank of America Corporation | 127% | 146% | 0.87 | 1.36 |
| MTB M&T Bank Corporation | 75% | 86% | 0.87 | 0.86 |
| PNC The PNC Financial Services Group, Inc. | 108% | 127% | 0.85 | 1.15 |
| CFG Citizens Financial Group, Inc. | 118% | 140% | 0.84 | 1.37 |
| NTRS Northern Trust Corporation | 111% | 136% | 0.82 | 1.18 |
| C Citigroup Inc. | 131% | 165% | 0.80 | 1.49 |
| COF Capital One Financial Corporation | 115% | 146% | 0.79 | 1.39 |
| STT State Street Corporation | 128% | 166% | 0.77 | 1.48 |
| HBAN Huntington Bancshares Incorporated | 89% | 116% | 0.76 | 1.13 |
| KEY KeyCorp | 100% | 132% | 0.75 | 1.28 |
| USB U.S. Bancorp | 89% | 130% | 0.69 | 1.05 |
| TFC Truist Financial Corporation | 86% | 126% | 0.68 | 1.11 |
What diversifies WFC?
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 WFC's. Because such investments tend not to fall at the same time, pairing WFC with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in WFC into GLD would have cut the portfolio's volatility by 20% over the past 5 years and raised its annual return (+14.3% for WFC alone, +16.1% for the mix).
- MCK made money in six of the seven calendar years in which WFC lost money.
- Among large ETFs, LVHI, DXJ and EWP have moved largely independently of WFC over the past 5 years, with correlations of 0.43 or lower, and each still earned a positive 5-year return.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which WFC lost money. The last two columns show a portfolio that is 80% WFC and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2020 | 2018 | 2011 | 2009 | 2007 | 2001 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| WFC Wells Fargo & Company (this page) | 1.00 | +85.1% | 0.57 | −11.9% | −41.6% | −21.8% | −9.6% | −6.3% | −12.1% | −20.2% | 27.8% | +14.3% |
| LVHI InternationalFranklin International Low Volatility High Dividend Index ETF | 0.43 | +119% | 1.48 | +3.8% | −9.0% | −5.2% | — | — | — | — | 23.1% | +15.4% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.26 | +225% | 1.34 | +6.0% | +3.9% | −19.8% | −16.1% | +2.0% | −7.4% | — | 23.0% | +17.4% |
| EWP Broad MarketiShares MSCI Spain ETF | 0.40 | +141% | 0.97 | −5.2% | −4.0% | −15.3% | −9.8% | +33.1% | +20.9% | −9.2% | 24.0% | +16.2% |
| SMH TechnologyVanEck Semiconductor ETF | 0.31 | +304% | 0.94 | −33.5% | +55.5% | −9.1% | +6.8% | +60.5% | +6.0% | −14.6% | 25.3% | +19.8% |
| IOO InternationaliShares Global 100 ETF | 0.46 | +107% | 0.94 | −16.3% | +18.6% | −6.3% | −4.1% | +24.0% | +11.1% | −14.3% | 23.8% | +15.3% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.42 | +178% | 0.94 | +64.4% | −32.7% | −18.2% | +2.8% | +21.8% | +36.8% | −18.2% | 24.9% | +16.7% |
| GLD CommoditiesSPDR Gold Shares | -0.08 | +120% | 0.93 | −0.8% | +24.8% | −1.9% | +9.6% | +24.0% | +30.4% | — | 22.2% | +16.1% |
| VLUE Broad MarketiShares MSCI USA Value Factor ETF | 0.47 | +112% | 0.91 | −14.2% | −0.2% | −11.1% | — | — | — | — | 24.4% | +15.5% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2020 | 2018 | 2011 | 2009 | 2007 | 2001 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| WFC Wells Fargo & Company (this page) | 1.00 | +85.1% | 0.57 | −11.9% | −41.6% | −21.8% | −9.6% | −6.3% | −12.1% | −20.2% | 27.8% | +14.3% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.29 | +471% | 1.54 | +54.1% | +10.1% | −24.5% | +8.1% | −4.4% | −9.8% | −2.5% | 24.3% | +19.6% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.48 | +2,780% | 1.43 | +1.3% | −2.4% | −16.3% | −24.4% | +105% | −25.7% | −25.6% | 29.6% | +31.7% |
| MCK Medical - DistributionMcKesson Corporation | 0.22 | +397% | 1.41 | +51.8% | +27.1% | −28.4% | +11.8% | +62.9% | +29.7% | +4.9% | 23.8% | +19.1% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.35 | +1,452% | 1.41 | +17.0% | +6.7% | +0.8% | −17.0% | +17.8% | +2.1% | +73.7% | 26.7% | +28.2% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.19 | +660% | 1.39 | +86.6% | −27.4% | −8.2% | — | — | — | — | 24.3% | +21.8% |
Common questions
What was WFC's worst drawdown?
WFC's deepest decline since it began trading in 1986 was 79.0%, from September 2008 to March 2009. It took about four years from the low to climb back to its old high.
What were WFC's best and worst years?
Over 29 full calendar years, WFC's best year was 1997, when it returned 81.9%. Its worst was 2020, with a return of -41.6%.
Is there a better investment than WFC?
Among WFC's popular alternatives, JPM, TD and BNY earned more than WFC with less volatility over the past 5 years. JPM returned 17.3% a year at 24.3% volatility, against 13.1% a year at 29.5%. Looking beyond its popular alternatives, PBAM (regional banks) and CBOE (capital markets) earned more than WFC with less volatility over the past 5 years. PBAM returned 27.5% a year at 18.9% volatility, against 13.1% a year at 29.5%.
Is WFC more volatile than the S&P 500?
Yes. WFC's volatility over the past 5 years was 29.5%, 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, WFC's return lands within 29.5% 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 WFC's Sharpe ratio?
WFC's Sharpe ratio over the past 5 years was 0.57, against 0.78 for the S&P 500, so WFC 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 WFC with the S&P 500?
Over the past 5 years, WFC's monthly returns had a correlation of 0.54 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 WFC instead: the lower it is, the more that option would diversify a WFC holding.
What are the best alternatives to WFC?
Of the 23 popular alternatives we compared, seven outperformed WFC in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: TD, JPM and BNY.
Did WFC outperform the S&P 500?
WFC finished ahead of the S&P 500 (SPY) in 15 of 29 full calendar years. In 2025, it returned +35.6%, against +17.7% for the index.
How did WFC do in stock market crashes?
WFC fell less than the S&P 500 (SPY) in one of the ten major crashes it has traded through, and further in eight. The clearest case was the 2008 financial crisis, when WFC fell 79.0% and the S&P 500 fell 55.2%.
What diversifies WFC?
These had a low correlation with WFC over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.43), DXJ (correlation 0.26) and EWP (correlation 0.40); among large stocks, CAH (correlation 0.29), CLS (correlation 0.48) and MCK (correlation 0.22). 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 WFC's. Returns within 0.5 points or 3% of WFC's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
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