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: 12/10/2019)

Company Name	Ticker	Recent Price $	YTD % Price Change	12Mo % Price Change
Walgreens Boots Alliance	WBA	58.41	-14.5	-28.602
3M	MMM	167.66	-12.0	-15.091
Pfizer	PFE	38.48	-11.8	-12.565
Exxon Mobil	XOM	69.06	1.3	-9.937
Cisco Systems	CSCO	44.10	1.8	-6.349
Johnson & Johnson	JNJ	139.99	8.5	-4.443
Chevron	CVX	117.89	8.4	2.095
Verizon Communications	VZ	61.23	8.9	4.044
UnitedHealth	UNH	279.52	12.2	4.602
McDonald's	MCD	194.95	9.8	6.187
Boeing	BA	347.90	7.9	8.033
Coca-Cola	KO	53.77	13.6	8.538
IBM	IBM	133.91	17.8	10.770
Travelers	TRV	135.54	13.2	12.044
American Express	AXP	120.90	26.8	14.705
Merck	MRK	89.10	16.6	15.549
Caterpillar	CAT	142.87	12.4	15.928
Intel	INTC	56.59	20.6	19.438
United Technologies	UTX	145.37	36.5	22.231
Home Depot	HD	215.90	25.7	25.370
Goldman Sachs	GS	221.88	32.8	25.497
Walmart	WMT	119.14	27.9	26.947
Disney	DIS	146.10	33.2	30.481
NIKE	NKE	97.01	30.8	31.860
Procter & Gamble	PG	124.27	35.2	32.328
Visa	V	182.26	38.1	33.221
J.P. Morgan Chase	JPM	134.50	37.8	34.004
Microsoft	MSFT	151.13	48.8	39.174
Apple	AAPL	268.48	70.2	59.212