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: 11/14/2019)

Company Name	Ticker	Recent Price $	YTD % Price Change	12Mo % Price Change
Walgreens Boots Alliance	WBA	61.94	-9.4	-24.729
3M	MMM	170.93	-10.3	-16.582
Pfizer	PFE	36.55	-16.3	-15.413
Exxon Mobil	XOM	68.50	0.5	-12.392
Johnson & Johnson	JNJ	130.96	1.5	-9.370
Cisco Systems	CSCO	44.91	3.6	-3.976
UnitedHealth	UNH	255.83	2.7	-3.438
Verizon Communications	VZ	59.34	5.5	0.440
Chevron	CVX	121.96	12.1	4.283
McDonald's	MCD	194.00	9.3	5.687
Coca-Cola	KO	52.63	11.2	5.810
Travelers	TRV	133.95	11.9	6.656
Boeing	BA	367.44	13.9	7.573
Goldman Sachs	GS	219.43	31.4	7.700
American Express	AXP	120.93	26.9	10.337
IBM	IBM	134.00	17.9	10.342
Caterpillar	CAT	143.44	12.9	10.832
Merck	MRK	84.55	10.7	12.974
United Technologies	UTX	148.11	39.1	14.167
J.P. Morgan Chase	JPM	128.60	31.7	16.834
Intel	INTC	57.81	23.2	20.162
Walmart	WMT	120.65	29.5	21.207
NIKE	NKE	91.27	23.1	22.790
Disney	DIS	147.15	34.2	25.651
Visa	V	179.75	36.2	26.727
Procter & Gamble	PG	120.50	31.1	28.423
Home Depot	HD	236.55	37.7	33.372
Apple	AAPL	262.64	66.5	37.213
Microsoft	MSFT	148.06	45.8	38.012