HEIO.AS vs. MBG.DE

Last updated Jun 5, 2026

HEIO.AS (Heineken Holding NV) and MBG.DE (Mercedes-Benz Group AG) are both stocks. HEIO.AS operates in Beverages - Brewers (Consumer Defensive), while MBG.DE operates in Auto Manufacturers (Consumer Cyclical). Over the past 10 years, HEIO.AS returned -0.27%/yr vs 6.24%/yr for MBG.DE. At a 0.30 correlation, their price movements are largely independent.

Performance

HEIO.AS vs. MBG.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Heineken Holding NV (HEIO.AS) and Mercedes-Benz Group AG (MBG.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HEIO.AS achieves a -3.58% return, which is significantly higher than MBG.DE's -12.57% return. Over the past 10 years, HEIO.AS has underperformed MBG.DE with an annualized return of -0.27%, while MBG.DE has yielded a comparatively higher 6.24% annualized return.

HEIO.AS

• 1D: -1.15%
• 1M: -2.28%
• YTD: -3.58%
• 6M: -1.45%
• 1Y: -12.18%
• 3Y*: -6.93%
• 5Y*: -4.34%
• 10Y*: -0.27%

MBG.DE

• 1D: -1.76%
• 1M: -2.20%
• YTD: -12.57%
• 6M: -14.74%
• 1Y: 1.86%
• 3Y*: -5.12%
• 5Y*: 1.51%
• 10Y*: 6.24%

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

HEIO.AS vs. MBG.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HEIO.AS Heineken Holding NV	-3.58%	11.11%	-22.66%	8.85%	-9.46%	6.58%	-9.44%	19.30%	-8.96%	26.90%
MBG.DE Mercedes-Benz Group AG	-12.57%	21.32%	-7.25%	10.02%	-1.84%	42.17%	23.48%	14.88%	-31.57%	4.82%

Correlation

The correlation between HEIO.AS and MBG.DE is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.27
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Feb 2, 1994	0.30

Return for Risk

HEIO.AS vs. MBG.DE — Risk / Return Rank

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

HEIO.AS

HEIO.AS Risk / Return Rank: 15
HEIO.AS Sharpe Ratio Rank: 14
HEIO.AS Sortino Ratio Rank: 15
HEIO.AS Omega Ratio Rank: 15
HEIO.AS Calmar Ratio Rank: 15
HEIO.AS Martin Ratio Rank: 17

MBG.DE

MBG.DE Risk / Return Rank: 42
MBG.DE Sharpe Ratio Rank: 44
MBG.DE Sortino Ratio Rank: 38
MBG.DE Omega Ratio Rank: 37
MBG.DE Calmar Ratio Rank: 44
MBG.DE Martin Ratio Rank: 44

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.

HEIO.AS vs. MBG.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Heineken Holding NV (HEIO.AS) and Mercedes-Benz Group AG (MBG.DE). 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.

	HEIO.AS	MBG.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.64	0.08	-0.71
Sortino ratio: Return per unit of downside risk	-0.75	0.31	-1.05
Omega ratio: Gain probability vs. loss probability	0.90	1.03	-0.13
Calmar ratio: Return relative to maximum drawdown	-0.72	0.11	-0.82
Martin ratio: Return relative to average drawdown	-1.14	0.24	-1.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEIO.AS vs. MBG.DE - Sharpe Ratio Comparison

The current HEIO.AS Sharpe Ratio is -0.64, which is lower than the MBG.DE Sharpe Ratio of 0.08. The chart below compares the historical Sharpe Ratios of HEIO.AS and MBG.DE, 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

	HEIO.AS	MBG.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.64	0.08	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.20	0.05	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.01	0.20	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.16	+0.30

Drawdowns

HEIO.AS vs. MBG.DE - Drawdown Comparison

The maximum HEIO.AS drawdown since its inception was -59.02%, smaller than the maximum MBG.DE drawdown of -76.69%. Use the drawdown chart below to compare losses from any high point for HEIO.AS and MBG.DE.

Drawdown Indicators

	HEIO.AS	MBG.DE	Difference
Max Drawdown Largest peak-to-trough decline	-59.02%	-76.69%	+17.67%
Max Drawdown (1Y) Largest decline over 1 year	-18.77%	-17.88%	-0.89%
Max Drawdown (3Y) Largest decline over 3 years	-30.12%	-34.38%	+4.26%
Max Drawdown (5Y) Largest decline over 5 years	-35.05%	-34.38%	-0.67%
Max Drawdown (10Y) Largest decline over 10 years	-36.65%	-67.47%	+30.82%
Current Drawdown Current decline from peak	-28.87%	-19.68%	-9.19%
Average Drawdown Average peak-to-trough decline	-12.84%	-29.45%	+16.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.86%	7.90%	+3.96%

Volatility

HEIO.AS vs. MBG.DE - Volatility Comparison

Heineken Holding NV (HEIO.AS) has a higher volatility of 6.86% compared to Mercedes-Benz Group AG (MBG.DE) at 6.09%. This indicates that HEIO.AS's price experiences larger fluctuations and is considered to be riskier than MBG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEIO.AS	MBG.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.86%	6.09%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	15.85%	18.34%	-2.49%
Volatility (1Y) Calculated over the trailing 1-year period	21.38%	25.29%	-3.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.14%	27.56%	-6.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.87%	30.51%	-9.64%

Dividends

HEIO.AS vs. MBG.DE - Dividend Comparison

HEIO.AS's dividend yield for the trailing twelve months is around 1.51%, less than MBG.DE's 7.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HEIO.AS Heineken Holding NV	1.51%	3.06%	2.99%	2.51%	2.03%	1.21%	1.35%	1.91%	2.06%	1.65%	2.09%	1.66%
MBG.DE Mercedes-Benz Group AG	7.13%	7.16%	9.80%	8.31%	8.14%	1.67%	3.42%	6.58%	7.95%	4.59%	4.60%	3.16%

Financials

Frequently Asked Questions

Can I hold both HEIO.AS and MBG.DE in my portfolio?

HEIO.AS and MBG.DE have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.