$10,000 invested in BHP and CBA shares three years ago is now worth…

Here's how the returns from BHP and CBA shares stack up over the past three years.

Bernd Struben

Author bio Bernd Struben earned his BA in economics from the University of Michigan in 1991, with post-graduate studies in environmental economics at the University of Connecticut. Over the years he’s written about and analysed the tourism industry in the Caribbean; Europe’s commercial real estate markets; and, since moving to Australia in 2010, global and Aussie share markets. Bernd studies geopolitical and macroeconomic trends, alongside sector and company specific data, to gauge what he believes could be tomorrow's best investments. In his free time, you might find Bernd at the beach with his family or working on his next science fiction novel. Areas of expertise Australian and global share markets Macroeconomic and geopolitical trends Real estate Education Economics, University of Michigan Favorite investment quote "The four most dangerous words in investing are: 'This time it's different." — Sir John Templeton

Published September 9, 7:15 am AEST

The rivalry between BHP Group Ltd (ASX: BHP) and Commonwealth Bank of Australia (ASX: CBA) shares has been on clear display this year.

This came as the two mega-cap stocks traded places (several times) as the biggest company on the ASX by market cap.

As 2026 progressed, BHP shares pulled ahead of CBA shares to cement that lead.

At least for now.

But if you'd invested $10,000 in both CommBank and BHP three years ago, which would have been the better investment?

(To put the below performances in some perspective, the ASX 200 has gained 25% in three years, as of intraday trade on Tuesday.)

A business person directs a pointed finger upwards on a rising arrow on a bar graph. — Image source: Getty Images

Investing $10,000 in CBA shares

Turning back the clock to September 8 2023, you could have picked up CBA stock for $100.81 a share.

Meaning you could have bought 99 CBA shares for $10,000.

Those same shares were recently trading at $160.16 apiece, representing a 59% gain.

But we shouldn't forget the passive income CBA has paid out over this time.

If you'd own the ASX 200 bank stock for the past three years, you would have received (or shortly will) the past six fully franked dividend payments totalling $14.55 a share.

So if we add that back into the recent share price, then the accumulated value of the CommBank shares you bought three years ago comes out to $174.71 apiece.

That's a gain of 73%.

And it would have seen your $10,000 investment in those 99 CBA shares grow to $17,296 today.

Buying $10,000 worth of BHP shares

So, how would the same investment in BHP stack up to the returns from CBA shares?

Well, on September 8 2023, BHP shares closed the day trading for $43.19. Meaning you could have picked yup 231 BHP shares for $10,000.

On Tuesday, shares in the ASX 200 mining stock were swapping hands for $62.52. That's a gain of 45% over three years.

Of course, BHP also pays two fully franked dividends a year.

If you'd owned the stock for three years, you'd have received (or shortly will) the past six passive income payouts. Those total (a rounded) $6.35 a share.

Adding that back into the recent share price, then the accumulated value of those BHP shares you bought in September 2023 is now worth $68.87.

That's a gain of 60%.

And those 231 BHP shares you picked up for $10,000 three years ago would be worth $15,909 today.

The winner is…

While BHP shares have strongly outperformed over the past year, CBA shares are the clear winner over the last three years, gaining 73% to BHP's 60%, inclusive of those dividends.

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