UPS vs. AFL

Last updated Jun 9, 2026

UPS (United Parcel Service, Inc.) and AFL (Aflac Incorporated) are both stocks. UPS operates in Integrated Freight & Logistics (Industrials), while AFL operates in Insurance - Life (Financial Services). Over the past 10 years, UPS returned 4.19%/yr vs 15.48%/yr for AFL. At a 0.41 correlation, their price movements are largely independent.

Performance

UPS vs. AFL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in United Parcel Service, Inc. (UPS) and Aflac Incorporated (AFL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UPS achieves a 11.95% return, which is significantly higher than AFL's 5.61% return. Over the past 10 years, UPS has underperformed AFL with an annualized return of 4.19%, while AFL has yielded a comparatively higher 15.48% annualized return.

UPS

• 1D: -0.77%
• 1M: 8.67%
• YTD: 11.95%
• 6M: 16.21%
• 1Y: 17.16%
• 3Y*: -9.35%
• 5Y*: -7.66%
• 10Y*: 4.19%

AFL

• 1D: -2.54%
• 1M: 2.42%
• YTD: 5.61%
• 6M: 7.77%
• 1Y: 13.52%
• 3Y*: 21.24%
• 5Y*: 17.94%
• 10Y*: 15.48%

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

UPS vs. AFL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
UPS United Parcel Service, Inc.	11.95%	-15.93%	-15.93%	-5.96%	-16.21%	30.02%	48.64%	24.24%	-15.48%	7.14%
AFL Aflac Incorporated	5.61%	8.94%	28.08%	17.36%	26.41%	34.55%	-13.60%	18.55%	6.20%	29.02%

Correlation

The correlation between UPS and AFL is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Nov 10, 1999	0.41

Over the past year, the correlation between UPS and AFL has dropped to 0.12 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.

Fundamentals

Market Cap UPS : $91.55B AFL : $59.32B
EPS UPS : $6.18 AFL : $8.76
PE Ratio UPS : 17.43 AFL : 13.16
PS Ratio UPS : 1.04 AFL : 3.35
PB Ratio UPS : 5.81 AFL : 2.64
Total Revenue (TTM) UPS : $88.34B AFL : $18.22B
Gross Profit (TTM) UPS : $16.03B AFL : $8.70B
EBITDA (TTM) UPS : $10.63B AFL : $6.67B

Return for Risk

UPS vs. AFL — Risk / Return Rank

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

UPS

UPS Risk / Return Rank: 58
UPS Sharpe Ratio Rank: 63
UPS Sortino Ratio Rank: 53
UPS Omega Ratio Rank: 56
UPS Calmar Ratio Rank: 61
UPS Martin Ratio Rank: 58

AFL

AFL Risk / Return Rank: 65
AFL Sharpe Ratio Rank: 68
AFL Sortino Ratio Rank: 61
AFL Omega Ratio Rank: 58
AFL Calmar Ratio Rank: 70
AFL Martin Ratio Rank: 71

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.

UPS vs. AFL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United Parcel Service, Inc. (UPS) and Aflac Incorporated (AFL). 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.

	UPS	AFL	Difference
Sharpe ratio: Return per unit of total volatility	0.59	0.80	-0.21
Sortino ratio: Return per unit of downside risk	0.93	1.23	-0.30
Omega ratio: Gain probability vs. loss probability	1.14	1.14	-0.01
Calmar ratio: Return relative to maximum drawdown	0.85	1.49	-0.64
Martin ratio: Return relative to average drawdown	1.45	3.70	-2.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UPS vs. AFL - Sharpe Ratio Comparison

The current UPS Sharpe Ratio is 0.59, which is comparable to the AFL Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of UPS and AFL, 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

	UPS	AFL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	0.80	-0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	0.86	-1.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	0.60	-0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.48	-0.29

Drawdowns

UPS vs. AFL - Drawdown Comparison

The maximum UPS drawdown since its inception was -57.92%, smaller than the maximum AFL drawdown of -82.71%. Use the drawdown chart below to compare losses from any high point for UPS and AFL.

Drawdown Indicators

	UPS	AFL	Difference
Max Drawdown Largest peak-to-trough decline	-57.92%	-82.71%	+24.79%
Max Drawdown (1Y) Largest decline over 1 year	-20.28%	-9.11%	-11.17%
Max Drawdown (3Y) Largest decline over 3 years	-50.71%	-13.56%	-37.15%
Max Drawdown (5Y) Largest decline over 5 years	-57.92%	-19.86%	-38.06%
Max Drawdown (10Y) Largest decline over 10 years	-57.92%	-54.89%	-3.03%
Current Drawdown Current decline from peak	-42.43%	-2.54%	-39.89%
Average Drawdown Average peak-to-trough decline	-15.31%	-11.66%	-3.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.89%	3.67%	+8.22%

Volatility

UPS vs. AFL - Volatility Comparison

United Parcel Service, Inc. (UPS) has a higher volatility of 6.35% compared to Aflac Incorporated (AFL) at 5.82%. This indicates that UPS's price experiences larger fluctuations and is considered to be riskier than AFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UPS	AFL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.35%	5.82%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	20.84%	12.24%	+8.60%
Volatility (1Y) Calculated over the trailing 1-year period	29.21%	17.08%	+12.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.37%	20.94%	+7.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.54%	25.77%	+1.77%

Dividends

UPS vs. AFL - Dividend Comparison

UPS's dividend yield for the trailing twelve months is around 6.09%, more than AFL's 2.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFL Aflac Incorporated	2.07%	2.10%	1.93%	2.04%	2.22%	2.26%	2.52%	2.04%	2.28%	1.98%	2.39%	2.64%
UPS United Parcel Service, Inc.	6.09%	6.61%	5.17%	4.12%	3.50%	1.90%	2.40%	3.28%	3.73%	2.79%	2.72%	3.03%

Financials

UPS vs. AFL - Profitability Comparison

The chart below illustrates the profitability comparison between United Parcel Service, Inc. and Aflac Incorporated over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

UPS - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, United Parcel Service, Inc. reported a gross profit of 3.60B and revenue of 21.20B. Therefore, the gross margin over that period was 17.0%.

AFL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aflac Incorporated reported a gross profit of 2.48B and revenue of 4.32B. Therefore, the gross margin over that period was 57.5%.

UPS - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, United Parcel Service, Inc. reported an operating income of 1.27B and revenue of 21.20B, resulting in an operating margin of 6.0%.

AFL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aflac Incorporated reported an operating income of 1.23B and revenue of 4.32B, resulting in an operating margin of 28.4%.

UPS - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, United Parcel Service, Inc. reported a net income of 864.00M and revenue of 21.20B, resulting in a net margin of 4.1%.

AFL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aflac Incorporated reported a net income of 1.02B and revenue of 4.32B, resulting in a net margin of 23.6%.

Frequently Asked Questions

Can I hold both UPS and AFL in my portfolio?

UPS and AFL have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UPS or AFL?

UPS has higher volatility (6.35%) compared to AFL (5.82%). In terms of maximum drawdown, UPS dropped -57.92% vs AFL's -82.71%.

Which has better risk-adjusted returns?

AFL currently has the higher Sharpe Ratio (0.80 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.