BUD vs. ABEV
BUD (Anheuser-Busch InBev SA/NV) and ABEV (Ambev S.A.) are both stocks. Both operate in the Beverages - Brewers industry within the Consumer Defensive sector. Over the past 10 years, BUD returned -1.97%/yr vs -1.25%/yr for ABEV. At a 0.44 correlation, their price movements are largely independent.
Performance
BUD vs. ABEV - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BUD having a 28.09% return and ABEV slightly lower at 27.13%. Over the past 10 years, BUD has underperformed ABEV with an annualized return of -1.97%, while ABEV has yielded a comparatively higher -1.25% annualized return.
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
- 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 vs. ABEV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
ABEV Ambev S.A. | 27.13% | 45.11% | -30.10% | 8.41% | 2.38% | -4.39% | -32.61% | 21.92% | -37.29% | 35.34% |
Correlation
The correlation between BUD and ABEV 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
BUD:
$159.86B
ABEV:
$49.22B
BUD:
$6.15
ABEV:
R$0.99
BUD:
13.14
ABEV:
16.28
BUD:
1.16
ABEV:
3.07
BUD:
1.33
ABEV:
2.88
BUD:
1.83
ABEV:
2.81
BUD:
$120.38B
ABEV:
R$88.21B
BUD:
$67.02B
ABEV:
R$45.41B
BUD:
$35.48B
ABEV:
R$28.97B
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Return for Risk
BUD vs. ABEV — Risk / Return Rank
BUD
ABEV
BUD vs. ABEV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Anheuser-Busch InBev SA/NV (BUD) and Ambev S.A. (ABEV). 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.
| BUD | ABEV | 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 | 1.14 | 1.25 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.78 | 2.51 | -1.73 |
| Martin ratioReturn relative to average drawdown | 1.46 | 5.57 | -4.11 |
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Drawdowns
BUD vs. ABEV - Drawdown Comparison
The maximum BUD drawdown since its inception was -70.02%, smaller than the maximum ABEV drawdown of -74.04%. Use the drawdown chart below to compare losses from any high point for BUD and ABEV.
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Drawdown Indicators
| BUD | ABEV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.02% | -74.04% | +4.02% |
Max Drawdown (1Y)Largest decline over 1 year | -20.12% | -16.10% | -4.02% |
Max Drawdown (3Y)Largest decline over 3 years | -31.55% | -38.37% | +6.82% |
Max Drawdown (5Y)Largest decline over 5 years | -39.93% | -40.63% | +0.70% |
Max Drawdown (10Y)Largest decline over 10 years | -70.02% | -72.26% | +2.24% |
Current DrawdownCurrent decline from peak | -24.74% | -42.50% | +17.76% |
Average DrawdownAverage peak-to-trough decline | -23.45% | -31.85% | +8.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.70% | 7.25% | +3.45% |
Volatility
BUD vs. ABEV - Volatility Comparison
The current volatility for Anheuser-Busch InBev SA/NV (BUD) is 6.75%, while Ambev S.A. (ABEV) has a volatility of 7.54%. This indicates that BUD experiences smaller price fluctuations and is considered to be less risky than ABEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BUD | ABEV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.75% | 7.54% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 18.03% | 25.19% | -7.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.55% | 31.75% | -5.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.89% | 30.31% | -5.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.65% | 34.30% | -6.65% |
Dividends
BUD vs. ABEV - Dividend Comparison
BUD's dividend yield for the trailing twelve months is around 1.66%, less than ABEV's 4.97% 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
BUD vs. ABEV - Financials Comparison
This section allows you to compare key financial metrics between Anheuser-Busch InBev SA/NV and Ambev S.A.. 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
BUD vs. ABEV - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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%.
Frequently Asked Questions
BUD and ABEV 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, BUD dropped -70.02% vs ABEV's -74.04%.
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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