How Can I Beat the S&P 500? What the Evidence Says
The honest answer to the most asked question in investing: how many people beat the index, why it is so hard, why investors trail even their own funds, and how daily market context fits in.
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BNY Stock vs the S&P 500: Returns, Risk and Crash History
Bank of New York Mellon Corp, financial services (market value $96.6 billion): how it compared with the S&P 500, how it behaved in every crash since 2008, its risk‑adjusted returns and what analysts said. Data as of Sep 30, 2026.
Key takeaways
- BNY returned +218.2% over the 5 years to Sep 30, 2026 versus +89.1% for the S&P 500: it beat the index.
- Its 5-year Sharpe ratio was 0.95 against 0.69 for the S&P 500.
- Five‑year volatility was 24.4% and beta 1.06.
- 16 analysts rated it in the past year; 60% of their latest calls were Buy.
Did BNY beat the S&P 500?
Over the 5 years to Sep 30, 2026, Bank of New York Mellon Corp (BNY) returned +218.2% including dividends, versus +89.1% for the S&P 500 (SPY). It beat the index by 129.1 percentage points, or +26.1% a year against +13.6%.
| Period | BNY | S&P 500 | BNY per year | S&P 500 per year | Result |
|---|---|---|---|---|---|
| 1 year | +34.5% | +15.1% | +34.5% | +15.1% | Beat |
| 3 years | +263.3% | +84.1% | +53.7% | +22.6% | Beat |
| 5 years | +218.2% | +89.1% | +26.1% | +13.6% | Beat |
| 10 years | +366.2% | +310.7% | +16.6% | +15.2% | Beat |
- 1 year
- BNY
- +34.5%
- S&P 500
- +15.1%
- BNY per year
- +34.5%
- S&P 500 per year
- +15.1%
- Result
- Beat
- 3 years
- BNY
- +263.3%
- S&P 500
- +84.1%
- BNY per year
- +53.7%
- S&P 500 per year
- +22.6%
- Result
- Beat
- 5 years
- BNY
- +218.2%
- S&P 500
- +89.1%
- BNY per year
- +26.1%
- S&P 500 per year
- +13.6%
- Result
- Beat
- 10 years
- BNY
- +366.2%
- S&P 500
- +310.7%
- BNY per year
- +16.6%
- S&P 500 per year
- +15.2%
- Result
- Beat
Total return with dividends reinvested, from month-end prices to Sep 30, 2026. Beating the index on raw return is only half the story: the next section adjusts for the risk taken. See also how to beat the S&P 500.
BNY returns by year vs the S&P 500
BNY beat the S&P 500 in 3 of the 9 full calendar years shown.
| Year | BNY | S&P 500 | Difference |
|---|---|---|---|
| 2026 (to Sep 30, 2026) | +25.6% | +12.1% | +13.5% |
| 2025 | +54.4% | +17.7% | +36.7% |
| 2024 | +51.9% | +24.9% | +27.0% |
| 2023 | +18.5% | +26.2% | −7.7% |
| 2022 | −19.1% | −18.2% | −0.9% |
| 2021 | +40.6% | +28.7% | +11.9% |
| 2020 | −12.9% | +18.3% | −31.2% |
| 2019 | +9.6% | +31.2% | −21.6% |
| 2018 | −10.8% | −4.6% | −6.2% |
| 2017 | +15.7% | +21.7% | −6.0% |
BNY risk-adjusted returns: Sharpe, Sortino and volatility
Over 5 years, BNY had a Sharpe ratio of 0.95 against 0.69 for the S&P 500, so it earned more return per unit of risk than the index. Its annualized volatility was 24.4% and its beta 1.06: it tended to move about 1.1× as much as the market.
| Metric | BNY | S&P 500 |
|---|---|---|
| Annual return | +26.1% | +13.6% |
| Volatility (annualized) | 24.4% | 15.7% |
| Sharpe ratio | 0.95 | 0.69 |
| Sortino ratio | 1.60 | 1.10 |
| Max drawdown (month-end) | −33.9% | −23.9% |
| Beta to the S&P 500 | 1.06 | 1.00 |
Sharpe divides return above cash by total volatility; Sortino counts only downside volatility. Both use monthly returns and the 1–3 month T‑bill ETF (BIL) as the risk‑free rate.
How BNY behaved in past crashes
BNY was not trading through the earlier crises, so only its recent drawdowns are shown.
| Window | BNY max drawdown |
|---|---|
| Last 1 year | −16.5% |
| Last 3 years | −17.6% |
| Last 5 years | −40.5% |
| Last 10 years | — |
Peak‑to‑trough declines from daily prices inside each crisis window. A crash replay does not predict the next crisis; it shows how much room a holding needs. Run the same replay on a whole portfolio with the crash test.
What moves with BNY, and what doesn’t
Correlation runs from −1 (moves opposite) to +1 (moves in lockstep). Over the last 60 months of monthly returns, BNY’s correlation with the S&P 500 was 0.68, with the Nasdaq‑100 0.49, with long Treasuries (TLT) 0.43 and with gold (GLD) 0.09.
Adding a 5% BNY position to an S&P 500 portfolio would have moved its 5‑year volatility from 15.7% to 15.7%.
| Least correlated large caps | Correlation | Most correlated large caps | Correlation |
|---|---|---|---|
| LLY | −0.05 | BAC | 0.79 |
| CRWD | 0.03 | MS | 0.76 |
| MRNA | 0.04 | PNC | 0.75 |
| REGN | 0.05 | JPM | 0.75 |
| LMT | 0.09 | USB | 0.75 |
Holdings that are highly correlated behave like one position in a selloff. See how to find hidden overlap.
What Wall Street analysts say about BNY
In the 12 months to 30 days ago, 16 analysts published 149 ratings on BNY. Their latest calls were 60% Buy, 40% Hold and 0% Sell. 12 of them rank 4★ or higher in Exent’s analyst scoring, which is based on each analyst’s past price‑target hit rate and returns.
| Top‑ranked analyst covering | Firm | Stars | Price‑target hit rate |
|---|---|---|---|
| Ebrahim Poonawala | Bank of America Securities | 5.0★ | 65.8% |
| Mike Mayo | Wells Fargo | 5.0★ | 67.0% |
Ratings are shown with a 30‑day delay. The live view, including the median target of only the top‑rated analysts, is in Exent Stocks Radar.
Other financial services stocks
| Ticker | Name | 5‑year return | Volatility (5y) |
|---|---|---|---|
| BRK-B | Berkshire Hathaway Inc. | +82.4% | 17.1% |
| JPM | JPMorgan Chase & Co. | +128.0% | 24.4% |
| V | Visa Inc. | +67.2% | 22.7% |
| MA | Mastercard Incorporated | +63.1% | 23.9% |
| BAC | Bank of America Corporation | +43.4% | 26.5% |
| MS | Morgan Stanley | +125.4% | 28.6% |
| GS | The Goldman Sachs Group, Inc. | +166.4% | 28.6% |
| WFC | Wells Fargo & Company | +93.7% | 30.1% |
Data and methodology
Returns are total returns from month‑end adjusted closing prices (dividends reinvested) through Sep 30, 2026. Crisis drawdowns and trailing maximum drawdowns use daily prices. Analyst coverage counts ratings published in the last 12 months, shown with a 30‑day delay. Full method: Exent methodology.
Past performance does not guarantee future results. Historical figures are calculated by Exent from market data and are for education only; they are not investment advice or a recommendation to buy or sell any security.
See what BNY does to your own portfolio
- Upload a screenshot of your holdings (or a CSV, Excel, PDF or Google Sheet); no brokerage login.
- Exent replays your whole portfolio, BNY included, through the 2008, 2018, 2020, 2022 and 2025 selloffs and shows which holdings drive the losses.
- It finds holdings that move together with BNY and compares your portfolio with a risk‑matched benchmark, Sharpe and Sortino included.
- Use the what‑if simulator to change weights and see the effect before you trade.
Frequently asked questions
Yes. BNY returned +366.2% (+16.6% a year) over the 10 years to Sep 30, 2026, versus +310.7% (+15.2% a year) for the S&P 500, including dividends.
Over the 5 years to Sep 30, 2026, BNY’s Sharpe ratio was 0.95 and its Sortino ratio 1.60, versus 0.69 and 1.10 for the S&P 500.
BNY’s 5‑year annualized volatility was 24.4%, higher than the S&P 500’s 17.0%, with a beta of 1.06.
Among large US stocks, the lowest correlations with BNY over the last 60 months were LLY (−0.05), CRWD (0.03), MRNA (0.04). Its correlation with long Treasuries (TLT) was 0.43 and with gold (GLD) 0.09.
What would BNY do to your portfolio?
Exent replays your whole portfolio through the same crashes, finds holdings that move together and compares you with a risk‑matched benchmark. Upload a screenshot; results in about a minute.
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Educational content, not investment advice. Examples are illustrative; past performance does not guarantee future results.