ABEV vs. BUD
ABEV (Ambev S.A.) and BUD (Anheuser-Busch InBev SA/NV) are both stocks. Both operate in the Beverages - Brewers industry within the Consumer Defensive sector. Over the past 10 years, ABEV returned -1.25%/yr vs -1.97%/yr for BUD. At a 0.44 correlation, their price movements are largely independent.
Performance
ABEV vs. BUD - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with ABEV having a 27.13% return and BUD slightly higher at 28.09%. Over the past 10 years, ABEV has outperformed BUD with an annualized return of -1.25%, while BUD has yielded a comparatively lower -1.97% annualized return.
ABEV
- 1D
- 0.64%
- 1M
- -1.88%
- YTD
- 27.13%
- 6M
- 36.52%
- 1Y
- 40.23%
- 3Y*
- 5.92%
- 5Y*
- 3.03%
- 10Y*
- -1.25%
BUD
- 1D
- 0.11%
- 1M
- -3.14%
- YTD
- 28.09%
- 6M
- 29.40%
- 1Y
- 15.55%
- 3Y*
- 14.09%
- 5Y*
- 2.93%
- 10Y*
- -1.97%
ABEV vs. BUD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ABEV Ambev S.A. | 27.13% | 45.11% | -30.10% | 8.41% | 2.38% | -4.39% | -32.61% | 21.92% | -37.29% | 35.34% |
BUD Anheuser-Busch InBev SA/NV | 28.09% | 30.33% | -21.37% | 9.04% | 0.09% | -12.66% | -13.97% | 27.69% | -38.79% | 9.62% |
Correlation
The correlation between ABEV and BUD is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2009 | 0.44 |
Fundamentals
ABEV:
$49.22B
BUD:
$159.86B
ABEV:
R$0.99
BUD:
$6.15
ABEV:
16.28
BUD:
13.14
ABEV:
3.07
BUD:
1.16
ABEV:
2.88
BUD:
1.33
ABEV:
2.81
BUD:
1.83
ABEV:
R$88.21B
BUD:
$120.38B
ABEV:
R$45.41B
BUD:
$67.02B
ABEV:
R$28.97B
BUD:
$35.48B
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Return for Risk
ABEV vs. BUD — Risk / Return Rank
ABEV
BUD
ABEV vs. BUD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ambev S.A. (ABEV) and Anheuser-Busch InBev SA/NV (BUD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ABEV | BUD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.14 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 0.78 | +1.73 |
| Martin ratioReturn relative to average drawdown | 5.57 | 1.46 | +4.11 |
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Drawdowns
ABEV vs. BUD - Drawdown Comparison
The maximum ABEV drawdown since its inception was -74.04%, which is greater than BUD's maximum drawdown of -70.02%. Use the drawdown chart below to compare losses from any high point for ABEV and BUD.
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Drawdown Indicators
| ABEV | BUD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.04% | -70.02% | -4.02% |
Max Drawdown (1Y)Largest decline over 1 year | -16.10% | -20.12% | +4.02% |
Max Drawdown (3Y)Largest decline over 3 years | -38.37% | -31.55% | -6.82% |
Max Drawdown (5Y)Largest decline over 5 years | -40.63% | -39.93% | -0.70% |
Max Drawdown (10Y)Largest decline over 10 years | -72.26% | -70.02% | -2.24% |
Current DrawdownCurrent decline from peak | -42.50% | -24.74% | -17.76% |
Average DrawdownAverage peak-to-trough decline | -31.85% | -23.45% | -8.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.25% | 10.70% | -3.45% |
Volatility
ABEV vs. BUD - Volatility Comparison
Ambev S.A. (ABEV) has a higher volatility of 7.54% compared to Anheuser-Busch InBev SA/NV (BUD) at 6.75%. This indicates that ABEV's price experiences larger fluctuations and is considered to be riskier than BUD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ABEV | BUD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.54% | 6.75% | +0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 25.19% | 18.03% | +7.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.75% | 26.55% | +5.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.31% | 24.89% | +5.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.30% | 27.65% | +6.65% |
Dividends
ABEV vs. BUD - Dividend Comparison
ABEV's dividend yield for the trailing twelve months is around 4.97%, more than BUD's 1.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ABEV Ambev S.A. | 4.97% | 8.10% | 6.10% | 5.26% | 5.36% | 4.38% | 2.67% | 2.51% | 3.79% | 2.57% | 3.41% | 4.32% |
BUD Anheuser-Busch InBev SA/NV | 1.66% | 1.91% | 1.74% | 1.28% | 0.88% | 0.98% | 0.79% | 2.45% | 5.15% | 3.63% | 5.41% | 3.21% |
Financials
ABEV vs. BUD - Financials Comparison
This section allows you to compare key financial metrics between Ambev S.A. and Anheuser-Busch InBev SA/NV. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ABEV vs. BUD - Profitability Comparison
ABEV - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Ambev S.A. reported a gross profit of 11.58B and revenue of 22.46B. Therefore, the gross margin over that period was 51.6%.
BUD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Anheuser-Busch InBev SA/NV reported a gross profit of 17.10B and revenue of 30.61B. Therefore, the gross margin over that period was 55.9%.
ABEV - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Ambev S.A. reported an operating income of 5.87B and revenue of 22.46B, resulting in an operating margin of 26.1%.
BUD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Anheuser-Busch InBev SA/NV reported an operating income of 80.56M and revenue of 30.61B, resulting in an operating margin of 0.3%.
ABEV - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Ambev S.A. reported a net income of 3.77B and revenue of 22.46B, resulting in a net margin of 16.8%.
BUD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Anheuser-Busch InBev SA/NV reported a net income of 3.01B and revenue of 30.61B, resulting in a net margin of 9.8%.
Frequently Asked Questions
ABEV and BUD have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ABEV has higher volatility (7.54%) compared to BUD (6.75%). In terms of maximum drawdown, ABEV dropped -74.04% vs BUD's -70.02%.
ABEV currently has the higher Sharpe Ratio (1.28 vs 0.59), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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