BTI vs. VOD

Last updated Jun 3, 2026

BTI (British American Tobacco p.l.c.) and VOD (Vodafone Group Plc) are both stocks. BTI operates in Tobacco (Consumer Defensive), while VOD operates in Telecom Services (Communication Services). Over the past 10 years, BTI returned 6.75%/yr vs -0.99%/yr for VOD. At a 0.32 correlation, their price movements are largely independent.

Performance

BTI vs. VOD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in British American Tobacco p.l.c. (BTI) and Vodafone Group Plc (VOD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BTI achieves a 8.33% return, which is significantly lower than VOD's 14.46% return. Over the past 10 years, BTI has outperformed VOD with an annualized return of 6.75%, while VOD has yielded a comparatively lower -0.99% annualized return.

BTI

• 1D: -0.89%
• 1M: 2.98%
• YTD: 8.33%
• 6M: 7.29%
• 1Y: 41.12%
• 3Y*: 33.38%
• 5Y*: 17.85%
• 10Y*: 6.75%

VOD

• 1D: 1.00%
• 1M: -6.38%
• YTD: 14.46%
• 6M: 22.13%
• 1Y: 52.31%
• 3Y*: 25.77%
• 5Y*: 3.46%
• 10Y*: -0.99%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BTI vs. VOD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BTI British American Tobacco p.l.c.	8.33%	65.81%	35.44%	-19.97%	14.91%	7.95%	-4.73%	42.97%	-49.35%	24.40%
VOD Vodafone Group Plc	14.46%	63.00%	5.68%	-4.59%	-27.22%	-3.57%	-9.63%	5.64%	-34.92%	38.22%

Correlation

The correlation between BTI and VOD is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Dec 19, 1988	0.32

The correlation between BTI and VOD shifts across timeframes, from 0.29 (1 year) to 0.44 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap BTI : $132.59B VOD : $34.90B
EPS BTI : $4.93 VOD : -$1.92
PS Ratio BTI : 2.58 VOD : 0.46
PB Ratio BTI : 2.77 VOD : 0.69
Total Revenue (TTM) BTI : $51.48B VOD : $78.20B
Gross Profit (TTM) BTI : $42.82B VOD : $25.34B
EBITDA (TTM) BTI : $20.34B VOD : $25.58B

Return for Risk

BTI vs. VOD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTI

BTI Risk / Return Rank: 82
BTI Sharpe Ratio Rank: 85
BTI Sortino Ratio Rank: 82
BTI Omega Ratio Rank: 79
BTI Calmar Ratio Rank: 82
BTI Martin Ratio Rank: 81

VOD

VOD Risk / Return Rank: 88
VOD Sharpe Ratio Rank: 87
VOD Sortino Ratio Rank: 83
VOD Omega Ratio Rank: 86
VOD Calmar Ratio Rank: 92
VOD Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BTI vs. VOD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for British American Tobacco p.l.c. (BTI) and Vodafone Group Plc (VOD). 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.

	BTI	VOD	Difference
Sharpe ratio Return per unit of total volatility	1.83	2.04	-0.21
Sortino ratio Return per unit of downside risk	2.52	2.56	-0.04
Omega ratio Gain probability vs. loss probability	1.30	1.38	-0.08
Calmar ratio Return relative to maximum drawdown	3.03	5.29	-2.26
Martin ratio Return relative to average drawdown	7.16	13.01	-5.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTI vs. VOD - Sharpe Ratio Comparison

The current BTI Sharpe Ratio is 1.83, which is comparable to the VOD Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of BTI and VOD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BTI	VOD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	2.04	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.13	+0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	-0.04	+0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.31	+0.27

Drawdowns

BTI vs. VOD - Drawdown Comparison

The maximum BTI drawdown since its inception was -64.11%, smaller than the maximum VOD drawdown of -79.32%. Use the drawdown chart below to compare losses from any high point for BTI and VOD.

Drawdown Indicators

	BTI	VOD	Difference
Max Drawdown Largest peak-to-trough decline	-64.11%	-79.32%	+15.21%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-10.05%	-3.70%
Max Drawdown (3Y) Largest decline over 3 years	-13.75%	-20.03%	+6.28%
Max Drawdown (5Y) Largest decline over 5 years	-29.94%	-49.24%	+19.30%
Max Drawdown (10Y) Largest decline over 10 years	-56.00%	-62.36%	+6.36%
Current Drawdown Current decline from peak	-9.36%	-19.89%	+10.53%
Average Drawdown Average peak-to-trough decline	-12.94%	-32.72%	+19.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.83%	4.09%	+1.74%

Volatility

BTI vs. VOD - Volatility Comparison

The current volatility for British American Tobacco p.l.c. (BTI) is 9.38%, while Vodafone Group Plc (VOD) has a volatility of 11.80%. This indicates that BTI experiences smaller price fluctuations and is considered to be less risky than VOD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BTI	VOD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.38%	11.80%	-2.42%
Volatility (6M) Calculated over the trailing 6-month period	17.97%	19.78%	-1.81%
Volatility (1Y) Calculated over the trailing 1-year period	22.59%	25.80%	-3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.07%	26.98%	-5.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.18%	27.89%	-3.71%

Dividends

BTI vs. VOD - Dividend Comparison

BTI's dividend yield for the trailing twelve months is around 5.10%, more than VOD's 3.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BTI British American Tobacco p.l.c.	5.10%	5.29%	8.18%	9.72%	7.23%	7.98%	7.22%	6.35%	8.53%	4.27%	3.85%	4.11%
VOD Vodafone Group Plc	3.37%	3.86%	8.58%	11.15%	9.27%	7.04%	6.11%	4.92%	8.99%	5.33%	12.26%	6.77%

Financials

BTI vs. VOD - Profitability Comparison

The chart below illustrates the profitability comparison between British American Tobacco p.l.c. and Vodafone Group Plc over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BTI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, British American Tobacco p.l.c. reported a gross profit of 11.30B and revenue of 13.54B. Therefore, the gross margin over that period was 83.4%.

VOD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Vodafone Group Plc reported a gross profit of 6.44B and revenue of 21.14B. Therefore, the gross margin over that period was 30.5%.

BTI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, British American Tobacco p.l.c. reported an operating income of 4.93B and revenue of 13.54B, resulting in an operating margin of 36.4%.

VOD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Vodafone Group Plc reported an operating income of 1.13B and revenue of 21.14B, resulting in an operating margin of 5.3%.

BTI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, British American Tobacco p.l.c. reported a net income of 3.25B and revenue of 13.54B, resulting in a net margin of 24.0%.

VOD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Vodafone Group Plc reported a net income of -1.24B and revenue of 21.14B, resulting in a net margin of -5.9%.

Frequently Asked Questions

Can I hold both BTI and VOD in my portfolio?

BTI and VOD have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BTI or VOD?

VOD has higher volatility (11.80%) compared to BTI (9.38%). In terms of maximum drawdown, BTI dropped -64.11% vs VOD's -79.32%.

Which has better risk-adjusted returns?

VOD currently has the higher Sharpe Ratio (2.04 vs 1.83), 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.