2 weeks Ago
You're reading a free article with opinions that may differ from The Motley Fool's Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources , and more. Learn More If you had to choose between owning Fortescue Ltd (ASX: FMG) shares in 2024 or one of the big four ASX bank stocks like Commonwealth Bank of Australia (ASX: CBA), those who picked the latter would have been vastly better off.
All four of the major ASX 200 bank stocks have soared in value this year so far. CBA has been stealing most of the headlines with its torrent of new record highs. But Westpac Banking Corp (ASX: WBC), National Australia Bank Ltd (ASX: NAB) and ANZ Group Holdings Ltd (ASX: ANZ) have all been exceptional investments as well.
Each of these banks has also delivered double-digit gains to investors, with Westpac's 46% rise taking the cake. In contrast, Fortescue shares have been an awful investment this year. Since the start of 2024, this ASX 200 mining giant's shares have dropped more than 36%, falling from $29.
39 each to the $18.74 we see today (at the time of writing anyway). Just look at how Fortescue's 2024 performance compares to that of Westpac's below: So, Fortescue and the ASX bank stocks have had dramatically.
.. Sebastian Bowen.
