Major sponsors of the FIFA World Cup have delivered more than triple the returns of the S&P 500 during tournament periods, according to new analysis from trading and investing platform IG.
The study examined performance from 30 days before the tournament to three months after its conclusion across the last four World Cups, finding that a basket of major sponsors generated average returns of +7.1%. This compares with just +1.9% for the S&P 500, while the FTSE 100 lagged significantly, posting an average decline of -1.1% over the same period.
The contrast is particularly striking during weaker market environments. In both 2014 and 2018, global markets were under pressure, but several World Cup-linked brands still posted gains during the tournament window – suggesting that companies with heavy exposure during the event were able to buck the broader trend.
Performance does vary between names, with Nike the standout stock, delivering average gains of +17.7% across the tournaments analysed, including a +38.7% jump during the 2022 World Cup window.
Other major brands also recorded strong – albeit more varied – performance across tournaments. Coca-Cola stood out for its consistency, delivering positive returns in all four World Cups analysed and averaging +8.6% overall. Hyundai Motor Company saw some of the sharpest uplifts, with gains of more than +20% during both the 2010 and 2014 tournaments.
Performance was less consistent for Adidas. While Adidas saw football-driven categories surge – with accessories and gear sales up 19% during the 2022 tournament – the benefit was more limited at a group level and offset by wider macro pressures.
The analysis underscores that this is not a one-way trade. While the overall basket outperformed consistently, individual share prices experienced sharp swings – ranging from double-digit gains to steep declines in certain years.
| Sponsor/Index | 2010 World Cup window | 2014 World Cup window | 2018 World Cup window | 2022 World Cup window | AVE |
|---|---|---|---|---|---|
| FTSE 100 | 6.3% | -7.1% | -9.3% | 5.6% | -1.13% |
| S&P 500 | 0.8% | -1.2% | 1.35% | 6.8% | 1.9% |
| Coca Cola | 11.1% | 8% | 6.3% | 9% | 8.6% |
| Adidas | 10.0% | -28.4% | 1.9% | 22.9% | 1.6% |
| Visa | -11.7% | -3.5% | 6.7% | 16.1% | 1.9% |
| Hyundai | 24.5% | 22.2% | -23.5% | 4.8% | 7.0% |
| Nike | 7.3% | 14.4% | 10.3% | 38.7% | 17.7% |
| Kia | 33.2% | -0.7% | -1.5% | 17.3% | 12.0% |
| AB InBev | 14.0% | 4.9% | -8.8% | 21.4% | 7.9% |
| World Cup Basket (simple weighted average) | 12.6% | 2.4% | -1.2% | 18.6% | 7.1% |
Table shows share price performance of FIFA World Cup sponsors and major indices during each tournament period (2010, 2014, 2018 and 2022 (30 days before the tournament to 3 months after), with averages calculated across all four events. Source: Bloomberg. Past performance isn’t an indicator of future results.
Chris Beauchamp, Chief Market Analyst at IG: “The World Cup creates a unique environment where a small group of globally recognised brands capture a disproportionate share of attention – and that visibility can feed through into stronger stock performance over a relatively short period.
“It’s particularly interesting when you set that against the traditional ‘Sell in May’ narrative, where markets are often expected to drift or soften over the summer months. What we’ve seen is that World Cup sponsors can cut against that trend, with tournament-driven demand, marketing spend and consumer engagement helping to support share prices at a time when the wider market can lack direction.
“What stands out is the gap between these companies and the broader indices. Even in years where markets have struggled, sponsor-linked stocks have often been able to outperform – although not without volatility, and with outcomes still heavily influenced by timing and wider market conditions.”
