IBM vs. FEZ
IBM (International Business Machines Corporation) is a stock, while FEZ (State Street SPDR EURO STOXX 50 ETF) is Europe Equities fund tracking the EURO STOXX 50 Index. Over the past 10 years, IBM returned 11.09%/yr vs 11.34%/yr for FEZ. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
IBM vs. FEZ - Performance Comparison
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Returns By Period
In the year-to-date period, IBM achieves a -6.89% return, which is significantly lower than FEZ's 7.29% return. Both investments have delivered pretty close results over the past 10 years, with IBM having a 11.09% annualized return and FEZ not far ahead at 11.34%.
IBM
- 1D
- -0.95%
- 1M
- 26.84%
- YTD
- -6.89%
- 6M
- -10.81%
- 1Y
- -0.65%
- 3Y*
- 29.65%
- 5Y*
- 18.01%
- 10Y*
- 11.09%
FEZ
- 1D
- 0.09%
- 1M
- 4.00%
- YTD
- 7.29%
- 6M
- 8.07%
- 1Y
- 17.54%
- 3Y*
- 17.98%
- 5Y*
- 10.21%
- 10Y*
- 11.34%
IBM vs. FEZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBM International Business Machines Corporation | -6.89% | 38.23% | 39.27% | 21.85% | 10.64% | 16.65% | -1.16% | 23.58% | -22.56% | -3.99% |
FEZ State Street SPDR EURO STOXX 50 ETF | 7.29% | 37.81% | 3.57% | 27.16% | -14.27% | 14.84% | 4.84% | 26.04% | -15.85% | 24.80% |
Correlation
The correlation between IBM and FEZ is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.39 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Oct 21, 2002 | 0.51 |
Over the past year, the correlation between IBM and FEZ has dropped to 0.28 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.
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Return for Risk
IBM vs. FEZ — Risk / Return Rank
IBM
FEZ
IBM vs. FEZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for International Business Machines Corporation (IBM) and State Street SPDR EURO STOXX 50 ETF (FEZ). 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.
| IBM | FEZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.19 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.17 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.02 | 1.29 | -1.31 |
| Martin ratioReturn relative to average drawdown | -0.05 | 4.40 | -4.45 |
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Drawdowns
IBM vs. FEZ - Drawdown Comparison
The maximum IBM drawdown since its inception was -69.40%, which is greater than FEZ's maximum drawdown of -64.21%. Use the drawdown chart below to compare losses from any high point for IBM and FEZ.
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Drawdown Indicators
| IBM | FEZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.40% | -64.21% | -5.19% |
Max Drawdown (1Y)Largest decline over 1 year | -30.96% | -13.63% | -17.33% |
Max Drawdown (3Y)Largest decline over 3 years | -30.96% | -15.85% | -15.11% |
Max Drawdown (5Y)Largest decline over 5 years | -30.96% | -35.05% | +4.09% |
Max Drawdown (10Y)Largest decline over 10 years | -40.59% | -39.69% | -0.90% |
Current DrawdownCurrent decline from peak | -17.31% | -0.37% | -16.94% |
Average DrawdownAverage peak-to-trough decline | -20.12% | -17.05% | -3.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.38% | 4.01% | +10.37% |
Volatility
IBM vs. FEZ - Volatility Comparison
International Business Machines Corporation (IBM) has a higher volatility of 21.43% compared to State Street SPDR EURO STOXX 50 ETF (FEZ) at 6.57%. This indicates that IBM's price experiences larger fluctuations and is considered to be riskier than FEZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBM | FEZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.43% | 6.57% | +14.86% |
Volatility (6M)Calculated over the trailing 6-month period | 34.62% | 15.48% | +19.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.45% | 18.45% | +21.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.16% | 20.70% | +6.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.59% | 21.11% | +5.48% |
Dividends
IBM vs. FEZ - Dividend Comparison
IBM's dividend yield for the trailing twelve months is around 2.47%, less than FEZ's 2.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEZ State Street SPDR EURO STOXX 50 ETF | 2.52% | 2.78% | 2.94% | 2.75% | 3.06% | 2.61% | 2.13% | 2.61% | 3.45% | 2.44% | 3.35% | 3.03% |
IBM International Business Machines Corporation | 2.47% | 2.27% | 3.03% | 4.05% | 4.68% | 4.74% | 5.17% | 4.80% | 5.46% | 3.85% | 3.31% | 3.63% |
Frequently Asked Questions
IBM and FEZ have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBM has higher volatility (21.43%) compared to FEZ (6.57%). In terms of maximum drawdown, IBM dropped -69.40% vs FEZ's -64.21%.
FEZ currently has the higher Sharpe Ratio (0.96 vs -0.02), 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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