Figures as of the Nov 13, 2026 close. Updated after each trading day. Not a recommendation or a forecast.
From Nov 14, 2016 to the Nov 13, 2026 close, $1,000 in Visa (V) became $5,829 and $1,000 in Mastercard (MA) became $6,931, with dividends reinvested.
From Nov 14, 2016 to Nov 13, 2026, Visa grew 19.3% a year and Mastercard grew 21.4%. The higher rate, Mastercard's, came with wider daily swings. Volatility was 24.6% for Visa and 27.1% for Mastercard. The Sharpe ratio is the yearly return above a fixed 5% risk-free rate, per unit of volatility.
Sharpe ratios were 0.58 for Visa and 0.60 for Mastercard. Over the same dates, the price record shows deepest falls of 36.4% for Visa and 41.0% for Mastercard. From Nov 15, 2016 to Nov 13, 2026, betas to the S&P 500 were 0.98 for Visa and 1.09 for Mastercard.
The $1,000 in Visa and the $1,000 in Mastercard swapped places 4 times at month ends. The latest swap came at the end of Sep 2017. Since then, the $1,000 in Mastercard has been worth more at every month end. Across all 121 month ends, Visa's value was the higher one at 7 and Mastercard's at 114.
At the end of Sep 2024, $1,000 had become $3,709 in Visa and $5,107 in Mastercard. In relative terms, that was the widest gap between them at any month end. The $1,000 in Visa first doubled to $2,000 at a month end in Mar 2019. The $1,000 in Mastercard did so in Aug 2018.
Every row ends at the Nov 13, 2026 close. The "a year" columns give the yearly rate from each start date. There is no 20-year row, because SmartFin's shared prices for Visa and Mastercard start on Mar 19, 2008. The yearly rates were furthest apart over the last year.
Over that span, Visa grew 27.4% a year and Mastercard grew 19.8%. The rates were closest over the full span since Mar 2008: 20.9% for Visa and 21.0% for Mastercard.
Visa's rate over the last year, 27.4%, was above its 10-year rate of 19.3%. Mastercard's last-year rate, 19.8%, was below its 10-year rate of 21.4%. In every row, $1,000 in Visa and $1,000 in Mastercard both ended above $1,000.
| Period | $1,000 in Visa | $1,000 in Mastercard | Visa a year | Mastercard a year |
|---|---|---|---|---|
| Since both startedfrom Mar 19, 2008 | $34,354 | $34,924 | 20.9% | 21.0% |
| Last 10 yearsfrom Nov 14, 2016 | $5,829 | $6,931 | 19.3% | 21.4% |
| Last 5 yearsfrom Nov 12, 2021 | $2,081 | $1,874 | 15.8% | 13.4% |
| Last yearfrom Nov 13, 2025 | $1,274 | $1,198 | 27.4% | 19.8% |
At the Nov 13, 2026 close, Visa and Mastercard were both at their highest month-end values so far. On daily closes, the deepest falls of Visa and Mastercard came in the same stretch. Visa fell 36.4% from Feb 19, 2020 to Mar 23, 2020. Mastercard fell 41.0% from Feb 19, 2020 to Mar 23, 2020.
Visa closed back at its old high on Aug 28, 2020, 5 months after the low. Mastercard closed back at its old high on Aug 24, 2020, 5 months after the low. Visa was 20% or more below its high at 2 of 121 month ends. Mastercard was 20% or more below its high at 2.
The S&P 500's COVID fall ran from its Feb 19, 2020 high to its Mar 23, 2020 low. Over those dates, Visa fell 36.4% and Mastercard 41.0%. The S&P 500's 2022 fall ran from its Jan 3, 2022 high to its Oct 12, 2022 low. Over those dates, Visa fell 19.1% and Mastercard 23.2%.
The bars cover 9 full calendar years, 2017 to 2025. Visa rose in 7 of them and Mastercard in 8. Visa's yearly change was higher in 2 years and Mastercard's in 7. Both rose in 7 and both fell in 1. In 1 year, one rose while the other fell.
Both had their lowest year in 2022: Visa −3.4%, Mastercard −2.7%. Their highest years were 2017 for Visa (+47.2%) and 2019 for Mastercard (+59.2%). The widest one-year gap between Visa and Mastercard came in 2019, one of the years above. In 2025, the latest full year, Visa rose 11.8% and Mastercard rose 9.0%.
These counts cover 119 full months, Dec 2016 to Oct 2026. Visa rose in 73 of them and Mastercard in 78. Both rose in 69, both fell in 37, and in 13 one rose while the other fell. Visa's largest monthly fall was −11.6% in Jan 2021, and Mastercard's −16.8% in Mar 2020.
Visa's largest monthly rise was +16.6% in Oct 2022, and Mastercard's +16.6% in Nov 2020. Visa's longest run of falling months was 4, ending in Nov 2021. Mastercard's longest run of falling months was 3, ending in Jun 2024.
The latest cell is a part month, from the Oct 30, 2026 close to the Nov 13, 2026 close. Over those days, Visa changed +2.9% and Mastercard +3.6%.
| J | F | M | A | M | J | J | A | S | O | N | D | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | −8.2 | −0.3 | −5.6 | +9.1 | −0.8 | +5.1 | +6.7 | +3.8 | −5.3 | +15.1 | +2.9 | |
| 2025 | +8.2 | +6.3 | −3.4 | −1.4 | +5.9 | −2.8 | −2.7 | +2.0 | −3.0 | −0.2 | −1.7 | +4.9 |
| 2024 | +5.0 | +3.6 | −1.3 | −3.8 | +1.6 | −3.7 | +1.2 | +4.2 | −0.5 | +5.4 | +8.9 | +0.3 |
| 2023 | +10.8 | −4.3 | +2.5 | +3.2 | −4.8 | +7.4 | +0.1 | +3.5 | −6.4 | +2.2 | +9.4 | +1.4 |
| 2022 | +4.4 | −4.3 | +2.6 | −3.9 | −0.3 | −7.2 | +7.7 | −6.2 | −10.6 | +16.6 | +5.0 | −4.3 |
| 2021 | −11.6 | +10.1 | −0.3 | +10.3 | −2.5 | +2.9 | +5.4 | −6.9 | −2.8 | −4.9 | −8.3 | +11.8 |
| 2020 | +5.9 | −8.5 | −11.4 | +10.9 | +9.4 | −1.1 | −1.4 | +11.5 | −5.7 | −9.1 | +15.9 | +4.0 |
| 2019 | +2.3 | +9.9 | +5.4 | +5.3 | −1.7 | +7.6 | +2.6 | +1.7 | −4.9 | +4.0 | +3.3 | +1.8 |
| 2018 | +9.0 | −0.9 | −2.7 | +6.1 | +3.2 | +1.3 | +3.2 | +7.6 | +2.2 | −8.2 | +3.0 | −6.9 |
| 2017 | +6.0 | +6.5 | +1.1 | +2.6 | +4.6 | −1.5 | +6.2 | +4.1 | +1.7 | +4.5 | +2.6 | +1.3 |
| J | F | M | A | M | J | J | A | S | O | N | D | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | −5.5 | −4.0 | −3.4 | +0.8 | −1.8 | +4.0 | +11.8 | +2.8 | −6.4 | +15.9 | +3.6 | |
| 2025 | +5.6 | +3.8 | −4.9 | +0.1 | +6.8 | −4.0 | +0.9 | +5.1 | −4.4 | −2.8 | −0.3 | +3.7 |
| 2024 | +5.5 | +5.7 | +1.4 | −6.2 | −0.9 | −1.3 | +5.3 | +4.2 | +2.2 | +1.3 | +6.7 | −1.2 |
| 2023 | +6.7 | −4.1 | +2.3 | +4.7 | −3.9 | +7.7 | +0.4 | +4.7 | −4.1 | −4.8 | +10.0 | +3.1 |
| 2022 | +7.7 | −6.6 | −1.0 | +1.8 | −1.5 | −11.8 | +12.3 | −8.3 | −12.3 | +15.6 | +8.6 | −2.4 |
| 2021 | −11.3 | +11.9 | +0.6 | +7.4 | −5.6 | +1.3 | +5.8 | −10.3 | +0.4 | −3.4 | −6.1 | +14.1 |
| 2020 | +6.0 | −8.1 | −16.8 | +14.0 | +9.4 | −1.7 | +4.5 | +16.1 | −5.6 | −14.5 | +16.6 | +6.1 |
| 2019 | +12.1 | +6.5 | +4.8 | +8.1 | −1.1 | +5.2 | +3.1 | +3.3 | −3.5 | +2.1 | +5.6 | +2.2 |
| 2018 | +11.8 | +4.0 | −0.3 | +1.9 | +6.6 | +3.4 | +0.9 | +8.9 | +3.3 | −11.1 | +1.7 | −6.2 |
| 2017 | +3.2 | +3.9 | +1.8 | +3.6 | +5.6 | −1.2 | +5.4 | +4.3 | +5.9 | +5.5 | +1.1 | +0.6 |
The rolling 1-year return is the change over the 12 months to each month end. From Nov 2017 to Nov 2026, Visa's rolling 1-year return ran from −19.7% (12 months to Sep 2022) to +51.3% (to Jan 2018). Over the same months, Mastercard's ran from −17.8% (12 months to Sep 2022) to +62.8% (to Jun 2018).
Visa's 12-month change was below zero at 17 of those 109 month ends, and Mastercard's at 20. Visa's 12-month change was the higher one at 38 month ends and Mastercard's at 71.
These measures cover Nov 14, 2016 to Nov 13, 2026. Over those dates, volatility was 24.6% for Visa and 27.1% for Mastercard. The Sortino ratio counts only falling days as risk. Against the same 5% rate, Sortino ratios were 0.85 for Visa and 0.88 for Mastercard. The Calmar ratio is the yearly return divided by the deepest fall.
Calmar ratios were 0.53 for Visa and 0.52 for Mastercard, the opposite order to the Sharpe ratios.
Beta shows how much Visa and Mastercard 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, 2016 to Nov 13, 2026, Visa's beta was 0.98, so it tended to move about as much as the index.
Over the same dates, Mastercard's beta was 1.09, so it tended to move more than the index. The correlation of Visa's and Mastercard's daily moves was 0.90, a close link. A correlation of 1 would mean they always moved together, 0 no link and −1 always opposite.
| Measure | Visa | Mastercard |
|---|---|---|
| Volatility, a year | 24.6% | 27.1% |
| Sharpe ratio | 0.58 | 0.60 |
| Sortino ratio | 0.85 | 0.88 |
| Calmar ratio | 0.53 | 0.52 |
| Deepest fall | 36.4% | 41.0% |
| Beta to the S&P 500from Nov 15, 2016 | 0.98 | 1.09 |
| Upside capturemonths from Dec 2016 | 99% | 111% |
| Downside capturemonths from Dec 2016 | 65% | 74% |
| Biggest one-day rise | +13.84%Mar 24, 2020 | +16.61%Mar 24, 2020 |
| Biggest one-day fall | −13.55%Mar 16, 2020 | −12.73%Mar 16, 2020 |
| Price against its 50-day average | +9.1% | +10.3% |
| Price against its 200-day average | +22.9% | +22.3% |
| Correlation of daily movesfrom Nov 15, 2016 | 0.90 | |
What Visa and Mastercard do, from each company's latest annual report filed with the US Securities and Exchange Commission.
Visa Inc. runs a payments network. Its annual report says it provides transaction processing services, mainly authorization, clearing and settlement, among consumers, issuing and acquiring financial institutions and sellers. The company calls this structure the four-party model. Its processing network is called VisaNet.
Financial institution clients use Visa-branded products to offer credit, debit, prepaid and cash access programs to individual, business and government account holders. The filing dates Visa's business to 1958. The company reports one segment, Payment Services. Visa Inc. is a Delaware corporation, and its principal executive offices are in San Francisco, California. Its fiscal year ends on September 30.
Source: 10-K (fiscal 2026, ended September 30, 2026), filed Nov 5, 2026 (SEC EDGAR)
Mastercard Incorporated describes itself as a technology company in the global payments industry. It operates a payments network that switches payment transactions, which the filing defines as authorizing, clearing and settling them. Its brands include Mastercard, Maestro and Cirrus.
It also processes automated clearing house transactions and sells services such as security solutions, business and market insights, and processing and gateway solutions. The company reports one operating segment, Payment Solutions. Mastercard Incorporated was incorporated in Delaware in May 2001. Its principal operating subsidiary, Mastercard International Incorporated, was formed in November 1966. The corporate headquarters is in Purchase, New York.
Its fiscal year ends on December 31.
Source: 10-K (fiscal 2025, ended December 31, 2025), filed Feb 11, 2026 (SEC EDGAR)
It depends on the period. Visa had the higher total return over the last 5 years and the last year. Mastercard had the higher total return over the full span since Mar 2008 and the last 10 years. From Mar 19, 2008 to the Nov 13, 2026 close, Visa returned +3,335% in total and Mastercard +3,392%.
Both include reinvested dividends, before taxes and fees. Over the last 10 years, Visa returned +483% and Mastercard +593%. Over the last 5 years, Visa returned +108% and Mastercard +87.4%. Over the last year, Visa returned +27.4% and Mastercard +19.8%. None of these Visa and Mastercard figures is a forecast.
SmartFin does not say which to buy. This page reports what Visa and Mastercard prices did. From Nov 14, 2016 to Nov 13, 2026, Visa grew 19.3% a year and Mastercard grew 21.4%. The record shows deepest falls of 36.4% for Visa and 41.0% for Mastercard. Past returns for Visa and Mastercard do not show what either will do next.
Yes. Every V and MA 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 Visa and Mastercard figures.
At the Nov 13, 2026 close, both Visa and Mastercard were at their highest month-end values. Visa's deepest fall on daily closes was 36.4%, from Feb 2020 to Mar 2020. Mastercard's deepest fall was 41.0%, from Feb 2020 to Mar 2020.
Compare Visa and Mastercard 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 Visa · What if you invested in Mastercard.
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.