diff --git a/core/src/main/scala-2.12/cats/compat/FoldableCompat.scala b/core/src/main/scala-2.12/cats/compat/FoldableCompat.scala
new file mode 100644
index 0000000000..5775d527dc
--- /dev/null
+++ b/core/src/main/scala-2.12/cats/compat/FoldableCompat.scala
@@ -0,0 +1,11 @@
+package cats
+package compat
+
+private[cats] object FoldableCompat {
+
+  def toIterable[F[_], A](fa: F[A])(F: Foldable[F]): Iterable[A] =
+    F.foldRight[A, Stream[A]](fa, Eval.now(Stream.empty)) { (a, eb) =>
+        eb.map(Stream.cons(a, _))
+      }
+      .value
+}
diff --git a/core/src/main/scala-2.12/cats/instances/stream.scala b/core/src/main/scala-2.12/cats/instances/stream.scala
index 67d4db6e19..b222d3cf11 100644
--- a/core/src/main/scala-2.12/cats/instances/stream.scala
+++ b/core/src/main/scala-2.12/cats/instances/stream.scala
@@ -140,6 +140,8 @@ trait StreamInstances extends cats.kernel.instances.StreamInstances {
 
       override def toList[A](fa: Stream[A]): List[A] = fa.toList
 
+      override def toIterable[A](fa: Stream[A]): Iterable[A] = fa
+
       override def reduceLeftOption[A](fa: Stream[A])(f: (A, A) => A): Option[A] =
         fa.reduceLeftOption(f)
 
diff --git a/core/src/main/scala-2.13+/cats/compat/FoldableCompat.scala b/core/src/main/scala-2.13+/cats/compat/FoldableCompat.scala
new file mode 100644
index 0000000000..07c8abdadd
--- /dev/null
+++ b/core/src/main/scala-2.13+/cats/compat/FoldableCompat.scala
@@ -0,0 +1,11 @@
+package cats
+package compat
+
+private[cats] object FoldableCompat {
+
+  def toIterable[F[_], A](fa: F[A])(F: Foldable[F]): Iterable[A] =
+    F.foldRight[A, LazyList[A]](fa, Eval.now(LazyList.empty)) { (a, eb) =>
+        eb.map(LazyList.cons(a, _))
+      }
+      .value
+}
diff --git a/core/src/main/scala-2.13+/cats/instances/lazyList.scala b/core/src/main/scala-2.13+/cats/instances/lazyList.scala
index bf570f606a..22621a6e3d 100644
--- a/core/src/main/scala-2.13+/cats/instances/lazyList.scala
+++ b/core/src/main/scala-2.13+/cats/instances/lazyList.scala
@@ -118,6 +118,8 @@ trait LazyListInstances extends cats.kernel.instances.LazyListInstances {
 
       override def toList[A](fa: LazyList[A]): List[A] = fa.toList
 
+      override def toIterable[A](fa: LazyList[A]): Iterable[A] = fa
+
       override def reduceLeftOption[A](fa: LazyList[A])(f: (A, A) => A): Option[A] =
         fa.reduceLeftOption(f)
 
diff --git a/core/src/main/scala-2.13+/cats/instances/stream.scala b/core/src/main/scala-2.13+/cats/instances/stream.scala
index 65e8f072ce..6874c1e4c3 100644
--- a/core/src/main/scala-2.13+/cats/instances/stream.scala
+++ b/core/src/main/scala-2.13+/cats/instances/stream.scala
@@ -141,6 +141,8 @@ trait StreamInstances extends cats.kernel.instances.StreamInstances {
 
       override def toList[A](fa: Stream[A]): List[A] = fa.toList
 
+      override def toIterable[A](fa: Stream[A]): Iterable[A] = fa
+
       override def reduceLeftOption[A](fa: Stream[A])(f: (A, A) => A): Option[A] =
         fa.reduceLeftOption(f)
 
diff --git a/core/src/main/scala/cats/Foldable.scala b/core/src/main/scala/cats/Foldable.scala
index 0e2d8b69e5..8868a387a4 100644
--- a/core/src/main/scala/cats/Foldable.scala
+++ b/core/src/main/scala/cats/Foldable.scala
@@ -266,15 +266,25 @@ import Foldable.sentinel
    * Fold implemented using the given Monoid[A] instance.
    */
   def fold[A](fa: F[A])(implicit A: Monoid[A]): A =
-    foldLeft(fa, A.empty) { (acc, a) =>
-      A.combine(acc, a)
-    }
+    A.combineAll(toIterable(fa))
 
   /**
    * Alias for [[fold]].
    */
   def combineAll[A: Monoid](fa: F[A]): A = fold(fa)
 
+  def combineAllOption[A](fa: F[A])(implicit ev: Semigroup[A]): Option[A] =
+    if (isEmpty(fa)) None else ev.combineAllOption(toIterable(fa))
+
+  /**
+   * Convert F[A] to an Iterable[A].
+   *
+   * This method may be overridden for the sake of performance, but implementers should take care
+   * not to force a full materialization of the collection.
+   */
+  def toIterable[A](fa: F[A]): Iterable[A] =
+    cats.compat.FoldableCompat.toIterable(fa)(self)
+
   /**
    * Fold implemented by mapping `A` values into `B` and then
    * combining them using the given `Monoid[B]` instance.
diff --git a/core/src/main/scala/cats/syntax/foldable.scala b/core/src/main/scala/cats/syntax/foldable.scala
index 53157f0c99..c02c28b128 100644
--- a/core/src/main/scala/cats/syntax/foldable.scala
+++ b/core/src/main/scala/cats/syntax/foldable.scala
@@ -2,6 +2,7 @@ package cats
 package syntax
 
 trait FoldableSyntax extends Foldable.ToFoldableOps with UnorderedFoldable.ToUnorderedFoldableOps {
+
   implicit final def catsSyntaxNestedFoldable[F[_]: Foldable, G[_], A](fga: F[G[A]]): NestedFoldableOps[F, G, A] =
     new NestedFoldableOps[F, G, A](fga)
 
diff --git a/tests/src/test/scala/cats/tests/FoldableSuite.scala b/tests/src/test/scala/cats/tests/FoldableSuite.scala
index addf449232..d383405b47 100644
--- a/tests/src/test/scala/cats/tests/FoldableSuite.scala
+++ b/tests/src/test/scala/cats/tests/FoldableSuite.scala
@@ -214,6 +214,20 @@ abstract class FoldableSuite[F[_]: Foldable](name: String)(implicit ArbFInt: Arb
     }
   }
 
+  test(s"Foldable[$name].combineAllOption") {
+    forAll { (fa: F[Int]) =>
+      fa.combineAllOption should ===(fa.toList.combineAllOption)
+      fa.combineAllOption should ===(iterator(fa).toList.combineAllOption)
+    }
+  }
+
+  test(s"Foldable[$name].iterable") {
+    forAll { (fa: F[Int]) =>
+      fa.toIterable.toList should ===(fa.toList)
+      fa.toIterable.toList should ===(iterator(fa).toList)
+    }
+  }
+
   test(s"Foldable[$name].intercalate") {
     forAll { (fa: F[String], a: String) =>
       fa.intercalate(a) should ===(fa.toList.mkString(a))