Figures as of the Nov 13, 2026 close. Updated after each trading day. Not a recommendation or a forecast.
From Nov 12, 2021 to the Nov 13, 2026 close, $1,000 in Amazon (AMZN) became $1,513 and $1,000 in Walmart (WMT) became $2,768, with dividends reinvested.
From Nov 12, 2021 to Nov 13, 2026, Amazon grew 8.6% a year and Walmart grew 22.6%. The higher rate, Walmart's, came with narrower daily swings. Volatility was 36.7% for Amazon and 22.8% for Walmart. The Sharpe ratio is the yearly return above a fixed 5% risk-free rate, per unit of volatility.
Sharpe ratios were 0.10 for Amazon and 0.77 for Walmart. Over the same dates, the price record shows deepest falls of 55.7% for Amazon and 25.7% for Walmart. From Nov 15, 2021 to Nov 13, 2026, betas to the S&P 500 were 1.48 for Amazon and 0.39 for Walmart.
The $1,000 in Amazon and the $1,000 in Walmart swapped places once, at the end of Dec 2021. Since then, the $1,000 in Walmart has been worth more at every month end.
At the end of Feb 2026, $1,000 had become $1,191 in Amazon and $2,748 in Walmart. In relative terms, that was the widest gap between them at any month end. The $1,000 in Walmart first doubled to $2,000 at a month end in Jan 2025. The $1,000 in Amazon had not reached $2,000 by Nov 2026.
Every row ends at the Nov 13, 2026 close. The "a year" columns give the yearly rate from each start date. The yearly rates were furthest apart over the full span since May 1997. Over that span, Amazon grew 30.7% a year and Walmart grew 13.3%.
The rates were closest over the last 10 years: 22.2% for Amazon and 20.5% for Walmart.
Amazon's rate over the last year, 12.2%, was below its 10-year rate of 22.2%. Walmart's last-year rate, 26.0%, was above its 10-year rate of 20.5%. In every row, $1,000 in Amazon and $1,000 in Walmart both ended above $1,000.
| Period | $1,000 in Amazon | $1,000 in Walmart | Amazon a year | Walmart a year |
|---|---|---|---|---|
| Since both startedfrom May 15, 1997 | $2,723,327 | $40,329 | 30.7% | 13.3% |
| Last 20 yearsfrom Nov 13, 2006 | $133,363 | $12,382 | 27.7% | 13.4% |
| Last 10 yearsfrom Nov 14, 2016 | $7,417 | $6,442 | 22.2% | 20.5% |
| Last 5 yearsfrom Nov 12, 2021 | $1,513 | $2,768 | 8.6% | 22.6% |
| Last yearfrom Nov 13, 2025 | $1,122 | $1,260 | 12.2% | 26.0% |
At the Nov 13, 2026 close, Amazon was 1.8% below its Jul 2026 month-end high. At the same close, Walmart was 2.5% below its Apr 2026 month-end high. On daily closes, the deepest falls of Amazon and Walmart came in the same stretch. Amazon fell 55.7% from Nov 18, 2021 to Dec 28, 2022.
Walmart fell 25.7% from Apr 21, 2022 to Jun 17, 2022. Amazon closed back at its old high on Apr 5, 2024, 1 year and 3 months after the low. Walmart closed back at its old high on Jun 14, 2023, 11 months after the low. Amazon was 20% or more below its high at 20 of 61 month ends.
Walmart was 20% or more below its high at 3.
The S&P 500's 2022 fall ran from its Jan 3, 2022 high to its Oct 12, 2022 low. Over those dates, Amazon fell 33.7% and Walmart 8.2%.
The bars cover 4 full calendar years, 2022 to 2025. Amazon rose in 3 of them and Walmart in 3. Amazon's yearly change was higher in 1 year and Walmart's in 3. Both rose in 3 and both fell in 1. They never moved in opposite directions over a full year.
Both had their lowest year in 2022: Amazon −49.6%, Walmart −0.5%. Their highest years were 2023 for Amazon (+80.9%) and 2024 for Walmart (+74.0%). The widest one-year gap between Amazon and Walmart came in 2023, one of the years above. In 2025, the latest full year, Amazon rose 5.2% and Walmart rose 24.5%.
These counts cover 59 full months, Dec 2021 to Oct 2026. Amazon rose in 31 of them and Walmart in 37. Both rose in 23, both fell in 14, and in 22 one rose while the other fell, more than one month in three. Amazon's largest monthly fall was −23.8% in Apr 2022, and Walmart's −15.6% in May 2022.
Amazon's largest monthly rise was +27.3% in Apr 2026, and Walmart's +18.9% in Oct 2026. Amazon's longest run of falling months was 5, ending in Dec 2022. Walmart's longest run of falling months was 5, ending in Sep 2026.
The latest cell is a part month, from the Oct 30, 2026 close to the Nov 13, 2026 close. Over those days, Amazon changed +10.9% and Walmart +3.7%.
| J | F | M | A | M | J | J | A | S | O | N | D | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +3.7 | −12.2 | −0.8 | +27.3 | +2.1 | −11.9 | +13.9 | −4.3 | −4.1 | −3.5 | +10.9 | |
| 2025 | +8.3 | −10.7 | −10.4 | −3.1 | +11.2 | +7.0 | +6.7 | −2.2 | −4.1 | +11.2 | −4.5 | −1.0 |
| 2024 | +2.1 | +13.9 | +2.0 | −3.0 | +0.8 | +9.5 | −3.2 | −4.5 | +4.4 | +0.0 | +11.5 | +5.5 |
| 2023 | +22.8 | −8.6 | +9.6 | +2.1 | +14.3 | +8.1 | +2.5 | +3.2 | −7.9 | +4.7 | +9.8 | +4.0 |
| 2022 | −10.3 | +2.7 | +6.1 | −23.8 | −3.3 | −11.6 | +27.1 | −6.1 | −10.9 | −9.3 | −5.8 | −13.0 |
| 2021 | −4.9 |
| J | F | M | A | M | J | J | A | S | O | N | D | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +6.9 | +7.4 | −2.7 | +6.2 | −12.1 | −2.2 | −1.8 | −5.5 | −0.9 | +18.9 | +3.7 | |
| 2025 | +8.6 | +0.5 | −10.7 | +10.8 | +1.8 | −1.0 | +0.2 | −0.8 | +6.3 | −1.8 | +9.2 | +1.0 |
| 2024 | +4.8 | +6.4 | +3.0 | −1.4 | +11.2 | +3.0 | +1.4 | +12.8 | +4.6 | +1.5 | +12.9 | −2.1 |
| 2023 | +1.5 | −1.2 | +4.2 | +2.4 | −2.3 | +7.0 | +1.7 | +2.1 | −1.6 | +2.2 | −4.7 | +1.6 |
| 2022 | −3.4 | −3.3 | +10.6 | +2.7 | −15.6 | −5.5 | +8.6 | +0.8 | −2.2 | +9.7 | +7.1 | −6.6 |
| 2021 | +3.3 |
The rolling 1-year return is the change over the 12 months to each month end. From Nov 2022 to Nov 2026, Amazon's rolling 1-year return ran from −49.6% (12 months to Dec 2022) to +87.6% (to Feb 2024). Over the same months, Walmart's ran from −0.5% (12 months to Dec 2022) to +80.6% (to Nov 2024).
Amazon's 12-month change was below zero at 9 of those 49 month ends, and Walmart's at 1. Amazon's 12-month change was the higher one at 17 month ends and Walmart's at 32.
These measures cover Nov 12, 2021 to Nov 13, 2026. Over those dates, volatility was 36.7% for Amazon and 22.8% for Walmart. The Sortino ratio counts only falling days as risk. Against the same 5% rate, Sortino ratios were 0.15 for Amazon and 1.09 for Walmart. The Calmar ratio is the yearly return divided by the deepest fall.
Calmar ratios were 0.15 for Amazon and 0.88 for Walmart.
Beta shows how much Amazon and Walmart tended to move on the days the S&P 500 (SPY) moved. A beta of 1 means moving by the same amount as the index. From Nov 15, 2021 to Nov 13, 2026, Amazon's beta was 1.48, so it tended to move more than the index.
Over the same dates, Walmart's beta was 0.39, so it tended to move less than the index. The correlation of Amazon's and Walmart's daily moves was 0.19, little link. A correlation of 1 would mean they always moved together, 0 no link and −1 always opposite.
| Measure | Amazon | Walmart |
|---|---|---|
| Volatility, a year | 36.7% | 22.8% |
| Sharpe ratio | 0.10 | 0.77 |
| Sortino ratio | 0.15 | 1.09 |
| Calmar ratio | 0.15 | 0.88 |
| Deepest fall | 55.7% | 25.7% |
| Beta to the S&P 500from Nov 15, 2021 | 1.48 | 0.39 |
| Upside capturemonths from Dec 2016 | 144% | 78% |
| Downside capturemonths from Dec 2016 | 125% | 15% |
| Biggest one-day rise | +15.32%Jul 31, 2026 | +9.55%Apr 9, 2025 |
| Biggest one-day fall | −14.05%Apr 29, 2022 | −11.38%May 17, 2022 |
| Price against its 50-day average | +4.6% | +11.8% |
| Price against its 200-day average | +9.0% | +8.0% |
| Correlation of daily movesfrom Nov 15, 2021 | 0.19 | |
What Amazon and Walmart do, from each company's latest annual report filed with the US Securities and Exchange Commission.
Amazon.com, Inc. sells consumer products, advertising and subscription services through online and physical stores, and sells cloud computing services through Amazon Web Services (AWS). It reports three segments. North America and International cover retail sales of consumer products, including from sellers, plus advertising and subscription services, through stores focused on each region.
AWS covers global sales of compute, storage, database and other services to start-ups, enterprises, government agencies and academic institutions. The company owns and leases corporate headquarters in Washington's Puget Sound region and in Arlington, Virginia. Its principal executive offices are in Seattle, Washington. Its fiscal year ends on December 31.
Source: 10-K (fiscal 2025, ended December 31, 2025), filed Feb 6, 2026 (SEC EDGAR)
Walmart Inc. operates retail and wholesale stores and clubs, as well as eCommerce websites and mobile applications. Its operations are located throughout the U.S., Africa, Canada, Central America, Chile, China, India and Mexico. The company describes itself as an omnichannel retailer, offering shopping in stores and through eCommerce along with other services.
It reports three segments: Walmart U.S., Walmart International and Sam's Club U.S. Its principal offices are in Bentonville, Arkansas, and its common stock trades on the Nasdaq Global Select Market. Its fiscal year ends on January 31 for its U.S. and Canadian operations. Other operations are generally consolidated with a one-month lag on a calendar-year basis.
Source: 10-K (fiscal 2026, ended January 31, 2026), filed Mar 13, 2026 (SEC EDGAR)
It depends on the period. Amazon had the higher total return over the full span since May 1997 and the last 20 and 10 years. Walmart had the higher total return over the last 5 years and the last year. From May 15, 1997 to the Nov 13, 2026 close, Amazon returned +272,233% in total and Walmart +3,933%.
Both include reinvested dividends, before taxes and fees. Over the last 10 years, Amazon returned +642% and Walmart +544%. Over the last 5 years, Amazon returned +51.3% and Walmart +177%. Over the last year, Amazon returned +12.2% and Walmart +26.0%. None of these Amazon and Walmart figures is a forecast.
SmartFin does not say which to buy. This page reports what Amazon and Walmart prices did. From Nov 12, 2021 to Nov 13, 2026, Amazon grew 8.6% a year and Walmart grew 22.6%. The record shows deepest falls of 55.7% for Amazon and 25.7% for Walmart. Past returns for Amazon and Walmart do not show what either will do next.
Yes. Every AMZN and WMT figure here uses closing prices adjusted for stock splits and dividends, so dividends count as reinvested. Taxes, fees and trading costs are left out of the Amazon and Walmart figures.
At the Nov 13, 2026 close, Amazon was 1.8% below its highest month-end value, set in Jul 2026. At the same close, Walmart was 2.5% below its highest month-end value, set in Apr 2026. Amazon's deepest fall on daily closes was 55.7%, from Nov 2021 to Dec 2022. Walmart's deepest fall was 25.7%, from Apr 2022 to Jun 2022.
Compare Amazon and Walmart with your own amount and dates in Compare Two Stocks
Daily closing prices adjusted for stock splits, with dividends reinvested, before taxes and fees. Both amounts are invested at the same close and valued at the Nov 13, 2026 close. See also: What if you invested in Amazon · What if you invested in Walmart.
This page presents historical market data and calculated results for a defined period. It is not a recommendation to buy, sell, or hold the security, fund, or index shown. Past performance is not indicative of future results.