Charles B. Carlson, CFA

The list below ranks the Dow stocks on 12-month percentage price change, from the worst performer to the best. The 10 worst-performing Dow stocks over the last 12 months are highlighted. My Worst-To-First Strategies focus on creating portfolios from the 10 worst performers over the last 12 months (1-stock, 3-stock, 5-stock, or 10-stock portfolios). For example, if you want a 3-stock portfolio, buy the first three stocks in the list and hold for 12 months. The newest member of the Dow Jones Industrial Average - Dow, Inc. (DOW) - was spun off from DowDuPont on April 2, 2019 and has not been trading for 12 months. Thus, Dow is not currently eligible to be chosen based on the strategy's selection criteria.

12-MONTH % PRICE CHANGE (Data as of: 10/22/2019)

Company Name	Ticker	Recent Price $	YTD % Price Change	12Mo % Price Change
Walgreens Boots Alliance	WBA	55.32	-19.0	-28.397
Pfizer	PFE	36.43	-16.5	-17.392
Exxon Mobil	XOM	69.09	1.3	-13.464
3M	MMM	167.54	-12.1	-12.988
Johnson & Johnson	JNJ	129.20	0.1	-7.003
UnitedHealth	UNH	249.48	0.1	-5.806
Goldman Sachs	GS	209.60	25.5	-4.099
Boeing	BA	337.00	4.5	-3.728
IBM	IBM	133.96	17.8	2.095
Chevron	CVX	117.80	8.3	3.880
Cisco Systems	CSCO	47.55	9.7	4.689
Travelers	TRV	130.15	8.7	5.129
Verizon Communications	VZ	60.77	8.1	6.222
Apple	AAPL	239.96	52.1	7.735
United Technologies	UTX	141.41	32.8	8.760
Disney	DIS	132.40	20.7	12.346
Caterpillar	CAT	133.69	5.2	12.363
McDonald's	MCD	199.27	12.2	12.486
Merck	MRK	81.30	6.4	12.760
American Express	AXP	118.61	24.4	13.632
Coca-Cola	KO	53.85	13.7	16.156
Intel	INTC	52.01	10.8	16.876
J.P. Morgan Chase	JPM	124.79	27.8	18.565
Walmart	WMT	119.58	28.4	22.269
Visa	V	170.86	29.5	22.814
Microsoft	MSFT	136.37	34.3	26.151
NIKE	NKE	95.60	28.9	30.334
Home Depot	HD	237.20	38.1	32.862
Procter & Gamble	PG	122.18	32.9	40.178