BetterThanSPY

Relative Intelligence · Semiconductor Equipment

How ASML Holding (ASML) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on ASML alone. It places ASML (ASML Holding N.V.) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where ASML stands in the market, and of the alternatives worth a closer look.

Period covered: ASML's full trading record, from March 1995 through September 2026. All returns include reinvested dividends. Data as of October 22, 2026.

Data as of October 22, 2026. Full tables and charts read best on a larger screen.

Rank the market against ASML →Chart ASML vs. 21 alternatives →

This page answers the following questions about ASML

Key findings

Not AI-generated

These key findings are generated by our proprietary relative intelligence engine, directly from the data on this page.

How much would $10,000 in ASML have grown?

This chart tracks a hypothetical $10,000 investment in ASML over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of ASML over the same span and ASML's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 33 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of ASML; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$1,000$10,000$100,000$1M$10M199720022007201220172022$1,000$10,000$100,000$1M$10M19972004201120182025
  • AAPL$21M+205,249% total · +30.1% a year
  • LRCX$2M+24,786% total · +21.0% a year
  • GILD$2M+15,614% total · +19.1% a year
  • KLAC$1M+10,976% total · +17.6% a year
  • VLO$1M+10,099% total · +17.3% a year
  • ASML$984,088+9,741% total · +17.1% a year
  • MU$629,766+6,198% total · +15.4% a year
  • TER$161,859+1,519% total · +10.1% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • AEHR$56,317+463% total · +6.1% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 486 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of ASML; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000202120222023202420252026$10,000$20,000$50,000$100,000202120222023202420252026
  • MU$153,675+1,437% total · +72.7% a year
  • NVDA$110,811+1,008% total · +61.8% a year
  • KLAC$61,203+512% total · +43.7% a year
  • LRCX$60,701+507% total · +43.4% a year
  • SMH$48,982+390% total · +37.4% a year
  • TSM$43,622+336% total · +34.3% a year
  • AMAT$41,406+314% total · +32.9% a year
  • NVMI$37,658+277% total · +30.4% a year
  • ASML$25,473+155% total · +20.6% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
Change the dates or add tickers to this chart in EasyCompare

ASML at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The company

Market value
$601B
Industry
Semiconductors
Price history from
March 1995

Returns

Past 1 year
+55.3%total return
Past 3 years
+172%+39.6% a year
Past 5 years
+104%+15.3% a year
Past 10 years
+1,527%+32.2% a year
Best calendar year
+273%1999
Worst calendar year
−51.0%2002
Losing years
10 of 29full calendar years

Risk

Volatility
43.5%typical yearly swing, 5 years
Sharpe ratio
0.55return per unit of risk, 5 years
Worst decline ever
−90.0%Mar 2000 to Oct 2002
From its all-time high
−21.5%below the peak

ASML against the whole market

Where ASML ranks among every stock and fund, and what across the market has done better.

How does ASML rank among all stocks?

This section ranks ASML on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how ASML stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureASMLRankStanding
1-year return+55.3%474 of 3,282top 14%
3-year return+172%499 of 3,016top 17%
5-year return+104%659 of 2,897top 23%
10-year return+1,527%53 of 2,201top 2%
Volatility, 5 years43.5%1,642 of 2,897bottom 44%
Sharpe ratio, 5 years0.55811 of 2,897top 28%
Worst decline, past 10 years−56.9%755 of 2,184top 35%

What has beaten ASML on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). ASML sits where the dashed lines cross. Anything in the green box above and to the left earned more than ASML with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to ASML; faint dots are 90 more of the 367 in the green region (the strongest, one per fund family). 3,641 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

0.0%10.0%20.0%30.0%40.0%50.0%60.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than ASMLCOKE: +41.6% a year, volatility 38.0%HALO: +26.2% a year, volatility 40.4%MPC: +50.0% a year, volatility 33.4%WELL: +27.0% a year, volatility 23.8%VCTR: +27.7% a year, volatility 35.0%NHC: +31.2% a year, volatility 28.6%DHT: +40.3% a year, volatility 39.0%TRGP: +41.8% a year, volatility 31.7%RY: +17.5% a year, volatility 18.2%NWPX: +32.7% a year, volatility 36.3%SENEA: +26.0% a year, volatility 36.4%GOOG: +18.5% a year, volatility 32.0%MUFG: +33.5% a year, volatility 29.4%BBVA: +39.0% a year, volatility 33.3%WMT: +21.1% a year, volatility 22.6%VLO: +43.8% a year, volatility 36.9%JPM: +17.3% a year, volatility 24.3%PSX: +32.7% a year, volatility 32.9%ABBV: +25.5% a year, volatility 23.4%MFC: +23.3% a year, volatility 24.0%ING: +24.3% a year, volatility 31.2%LVHI: +16.9% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%CAT: +30.7% a year, volatility 32.0%PM: +21.3% a year, volatility 23.4%URI: +25.7% a year, volatility 39.1%NVS: +17.4% a year, volatility 20.7%MCK: +37.8% a year, volatility 25.1%FTI: +54.6% a year, volatility 41.2%AMGN: +20.1% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%GS: +19.4% a year, volatility 28.6%TD: +16.5% a year, volatility 20.0%IBM: +20.1% a year, volatility 30.2%BAP: +29.7% a year, volatility 30.3%KB: +24.2% a year, volatility 34.4%TJX: +19.8% a year, volatility 22.3%CIB: +33.5% a year, volatility 32.9%GLD: +17.1% a year, volatility 19.0%VGT: +18.1% a year, volatility 26.1%PGR: +21.8% a year, volatility 25.7%VRTX: +23.9% a year, volatility 29.1%CM: +19.5% a year, volatility 21.6%BNY: +22.8% a year, volatility 24.4%USFD: +23.3% a year, volatility 29.8%ETN: +19.7% a year, volatility 32.2%TRV: +22.4% a year, volatility 22.3%PWR: +36.4% a year, volatility 37.4%TT: +21.4% a year, volatility 27.7%FFIV: +16.7% a year, volatility 30.8%GWW: +26.7% a year, volatility 24.9%COR: +23.6% a year, volatility 22.8%SNX: +20.2% a year, volatility 30.4%MOG-A: +35.1% a year, volatility 32.1%CTAS: +17.1% a year, volatility 23.1%MNST: +17.4% a year, volatility 24.9%HLT: +20.7% a year, volatility 26.8%EXEL: +25.0% a year, volatility 35.8%JCI: +16.4% a year, volatility 29.2%CMI: +19.3% a year, volatility 29.0%ROST: +17.8% a year, volatility 29.5%ETR: +19.8% a year, volatility 22.4%R: +27.5% a year, volatility 32.9%ALL: +17.9% a year, volatility 26.2%CCEP: +20.4% a year, volatility 23.3%ESLT: +39.7% a year, volatility 34.6%WPM: +25.8% a year, volatility 37.0%PCAR: +17.7% a year, volatility 26.2%EME: +40.8% a year, volatility 35.4%ARGX: +24.5% a year, volatility 39.9%LAUR: +36.9% a year, volatility 32.8%AMG: +19.0% a year, volatility 31.9%CBOE: +22.0% a year, volatility 25.1%CASY: +30.8% a year, volatility 29.4%IX: +18.3% a year, volatility 25.4%SDCI: +21.1% a year, volatility 18.4%IRM: +23.8% a year, volatility 30.3%KNSL: +18.9% a year, volatility 38.8%WRB: +18.6% a year, volatility 22.9%CAKE: +24.4% a year, volatility 39.9%RS: +24.8% a year, volatility 28.1%SPMO: +18.1% a year, volatility 20.9%CW: +29.5% a year, volatility 28.8%CHEF: +27.9% a year, volatility 39.7%MCY: +16.9% a year, volatility 34.3%GDX: +21.6% a year, volatility 38.3%VIRT: +20.4% a year, volatility 33.8%WT: +30.8% a year, volatility 32.9%HUBB: +20.2% a year, volatility 30.0%PKG: +16.6% a year, volatility 25.9%ASML: +15.3% a year, volatility 43.5%SPY (S&P 500): +12.5% a year, volatility 17.2%KLAC: +35.3% a year, volatility 46.9%TSM: +31.0% a year, volatility 38.6%MU: +67.0% a year, volatility 57.1%AMAT: +23.6% a year, volatility 47.6%SMH: +32.2% a year, volatility 37.0%AAPL: +19.1% a year, volatility 28.0%NTAP: +20.6% a year, volatility 35.3%ASX: +47.3% a year, volatility 43.3%MSI: +15.2% a year, volatility 23.6%MPWR: +18.8% a year, volatility 55.5%LLY: +41.2% a year, volatility 32.8%CAH: +41.7% a year, volatility 24.7%MFG: +33.9% a year, volatility 30.6%SMFG: +34.0% a year, volatility 29.4%EWT: +19.8% a year, volatility 24.3%PANW: +33.4% a year, volatility 43.4%DXJ: +26.6% a year, volatility 19.1%KO: +15.2% a year, volatility 16.8%INSW: +58.7% a year, volatility 40.6%ASMLSPY (S&P 500)KLACTSMMUAMATSMHAAPLNTAPASXMSIMPWRLLYCAHMFGSMFGEWTPANWDXJKOINSW0.0%10.0%20.0%30.0%40.0%50.0%60.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than ASMLCOKE: +41.6% a year, volatility 38.0%HALO: +26.2% a year, volatility 40.4%MPC: +50.0% a year, volatility 33.4%WELL: +27.0% a year, volatility 23.8%VCTR: +27.7% a year, volatility 35.0%NHC: +31.2% a year, volatility 28.6%DHT: +40.3% a year, volatility 39.0%TRGP: +41.8% a year, volatility 31.7%RY: +17.5% a year, volatility 18.2%NWPX: +32.7% a year, volatility 36.3%SENEA: +26.0% a year, volatility 36.4%GOOG: +18.5% a year, volatility 32.0%MUFG: +33.5% a year, volatility 29.4%BBVA: +39.0% a year, volatility 33.3%WMT: +21.1% a year, volatility 22.6%VLO: +43.8% a year, volatility 36.9%JPM: +17.3% a year, volatility 24.3%PSX: +32.7% a year, volatility 32.9%ABBV: +25.5% a year, volatility 23.4%MFC: +23.3% a year, volatility 24.0%ING: +24.3% a year, volatility 31.2%LVHI: +16.9% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%CAT: +30.7% a year, volatility 32.0%PM: +21.3% a year, volatility 23.4%URI: +25.7% a year, volatility 39.1%NVS: +17.4% a year, volatility 20.7%MCK: +37.8% a year, volatility 25.1%FTI: +54.6% a year, volatility 41.2%AMGN: +20.1% a year, volatility 24.9%GILD: +22.8% a year, volatility 24.9%GS: +19.4% a year, volatility 28.6%TD: +16.5% a year, volatility 20.0%IBM: +20.1% a year, volatility 30.2%BAP: +29.7% a year, volatility 30.3%KB: +24.2% a year, volatility 34.4%TJX: +19.8% a year, volatility 22.3%CIB: +33.5% a year, volatility 32.9%GLD: +17.1% a year, volatility 19.0%VGT: +18.1% a year, volatility 26.1%PGR: +21.8% a year, volatility 25.7%VRTX: +23.9% a year, volatility 29.1%CM: +19.5% a year, volatility 21.6%BNY: +22.8% a year, volatility 24.4%USFD: +23.3% a year, volatility 29.8%ETN: +19.7% a year, volatility 32.2%TRV: +22.4% a year, volatility 22.3%PWR: +36.4% a year, volatility 37.4%TT: +21.4% a year, volatility 27.7%FFIV: +16.7% a year, volatility 30.8%GWW: +26.7% a year, volatility 24.9%COR: +23.6% a year, volatility 22.8%SNX: +20.2% a year, volatility 30.4%MOG-A: +35.1% a year, volatility 32.1%CTAS: +17.1% a year, volatility 23.1%MNST: +17.4% a year, volatility 24.9%HLT: +20.7% a year, volatility 26.8%EXEL: +25.0% a year, volatility 35.8%JCI: +16.4% a year, volatility 29.2%CMI: +19.3% a year, volatility 29.0%ROST: +17.8% a year, volatility 29.5%ETR: +19.8% a year, volatility 22.4%R: +27.5% a year, volatility 32.9%ALL: +17.9% a year, volatility 26.2%CCEP: +20.4% a year, volatility 23.3%ESLT: +39.7% a year, volatility 34.6%WPM: +25.8% a year, volatility 37.0%PCAR: +17.7% a year, volatility 26.2%EME: +40.8% a year, volatility 35.4%ARGX: +24.5% a year, volatility 39.9%LAUR: +36.9% a year, volatility 32.8%AMG: +19.0% a year, volatility 31.9%CBOE: +22.0% a year, volatility 25.1%CASY: +30.8% a year, volatility 29.4%IX: +18.3% a year, volatility 25.4%SDCI: +21.1% a year, volatility 18.4%IRM: +23.8% a year, volatility 30.3%KNSL: +18.9% a year, volatility 38.8%WRB: +18.6% a year, volatility 22.9%CAKE: +24.4% a year, volatility 39.9%RS: +24.8% a year, volatility 28.1%SPMO: +18.1% a year, volatility 20.9%CW: +29.5% a year, volatility 28.8%CHEF: +27.9% a year, volatility 39.7%MCY: +16.9% a year, volatility 34.3%GDX: +21.6% a year, volatility 38.3%VIRT: +20.4% a year, volatility 33.8%WT: +30.8% a year, volatility 32.9%HUBB: +20.2% a year, volatility 30.0%PKG: +16.6% a year, volatility 25.9%ASML: +15.3% a year, volatility 43.5%SPY (S&P 500): +12.5% a year, volatility 17.2%KLAC: +35.3% a year, volatility 46.9%TSM: +31.0% a year, volatility 38.6%MU: +67.0% a year, volatility 57.1%AMAT: +23.6% a year, volatility 47.6%SMH: +32.2% a year, volatility 37.0%AAPL: +19.1% a year, volatility 28.0%NTAP: +20.6% a year, volatility 35.3%ASX: +47.3% a year, volatility 43.3%MSI: +15.2% a year, volatility 23.6%MPWR: +18.8% a year, volatility 55.5%LLY: +41.2% a year, volatility 32.8%CAH: +41.7% a year, volatility 24.7%MFG: +33.9% a year, volatility 30.6%SMFG: +34.0% a year, volatility 29.4%EWT: +19.8% a year, volatility 24.3%PANW: +33.4% a year, volatility 43.4%DXJ: +26.6% a year, volatility 19.1%KO: +15.2% a year, volatility 16.8%INSW: +58.7% a year, volatility 40.6%ASMLSPY (S&P 500)KLACTSMMUAMATSMHAAPLNTAPASXMPWRLLYCAHMFGEWTDXJKOINSW
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than ASML?

Investments that beat ASML over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat ASML over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes. It checks ASML's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than ASML follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than ASML's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× ASML's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than ASML's.

Screen the whole market against ASML for any period in BetterThanSPYOpen these 19 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with ASML?lower diversifies moreExpenseper year
ASMLASML Holding N.V. · this page
+15.3%43.5%0.55−56.9%+1,527%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.5%17.2%0.78−33.7%+316%0.650.09%
Popular alternativesbest 4 shownThe investments people most often weigh against ASML. 4 of 21 passed at least one test.
KLACKLA Corporation · Semiconductor Equipment
Higher return, similar volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+35.3%46.9%0.88−50.9%+2,224%0.79—
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Higher return, lower volatility+31.0%38.6%0.90−56.6%+1,440%0.72—
MUMicron Technology, Inc. · Semiconductors
Higher return in most periods+67.0%57.1%1.19−57.6%+5,050%0.63—
AMATApplied Materials, Inc. · Semiconductor Equipment
Higher return, similar volatility+23.6%47.6%0.69−55.1%+1,334%0.81—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Semiconductor Equipment and Semiconductors and the categories next to it (Communications Equipment, Computer Hardware, Electronic Components), plus ASML's specific themes. 29 of 122 passed at least one test.
SMHVanEck Semiconductor ETF · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+32.2%37.0%0.94−45.3%+1,570%0.800.35%
AAPLApple Inc. · Computer Hardware
Higher return, lower volatilityHigher Sharpe, smaller worst decline+19.1%28.0%0.77−38.5%+1,194%0.39—
NTAPNetApp, Inc. · Computer Hardware
Higher return, lower volatilityHigher return in most periods+20.6%35.3%0.71−58.1%+696%0.30—
ASXASE Technology Holding Co., Ltd. · Semiconductors
Higher return, similar volatilityHigher return in most periods+47.3%43.3%1.11−52.5%+883%0.69—
MSIMotorola Solutions, Inc. · Communications Equipment
Similar return, lower volatilityHigher Sharpe, smaller worst decline+15.2%23.6%0.72−32.8%+639%0.31—
MPWRMonolithic Power Systems, Inc. · Semiconductors
Smaller losses in recent crashes+18.8%55.5%0.59−51.6%+1,495%0.55—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 577 of 3,513 passed at least one test.
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+41.2%32.8%1.22−34.5%+1,870%0.23—
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+41.7%24.7%1.54−46.1%+345%0.33—
MFGMizuho Financial Group, Inc. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+33.9%30.6%1.11−45.7%+343%0.32—
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+34.0%29.4%1.15−47.6%+470%0.30—
EWTiShares MSCI Taiwan ETF · International Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+19.8%24.3%0.87−38.9%+448%0.670.59%
PANWPalo Alto Networks, Inc. · Cybersecurity
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+33.4%43.4%0.89−48.0%+1,306%0.35—
DXJWisdomTree Japan Hedged Equity Fund · Japan Equity
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst decline+26.6%19.1%1.34−39.1%+415%0.490.48%
KOThe Coca-Cola Company · Nonalcoholic Beverages
Similar return, lower volatilityHigher Sharpe, smaller worst decline+15.2%16.8%0.93−37.0%+205%0.22—
What these numbers mean for ASML
Annual return
ASML returned 15.3% a year over the past 5 years with dividends reinvested, against 12.5% a year for the S&P 500. At that pace, $10,000 became about $20,400. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
ASML's volatility over the past 5 years was 43.5%, 2.5 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ASML's return lands within 43.5% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
ASML's Sharpe ratio over the past 5 years was 0.55, against 0.78 for the S&P 500, so ASML earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
ASML's worst fall from a peak to a low over the past 10 years was 56.9%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 56.9% fall takes a 132% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, ASML's monthly returns had a correlation of 0.65 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against ASML instead: the lower it is, the more that option would diversify a ASML holding. Guide: Correlation and diversification →
Show all 367 stocks and funds worth at least $500 million that earned more than ASML with less volatility

Out of 3,641 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with ASMLExpense
1
LLYEli Lilly and Company · Pharmaceuticals
Whole market+41.2%32.8%1.22−34.5%+1,870%0.23—
2
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+41.7%24.7%1.54−46.1%+345%0.33—
3
MFGMizuho Financial Group, Inc. · Banks
Whole market+33.9%30.6%1.11−45.7%+343%0.32—
4
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+34.0%29.4%1.15−47.6%+470%0.30—
5
COKECoca-Cola Consolidated, Inc. · Food & Beverages
Whole market+41.6%38.0%1.11−51.7%+1,564%0.16—
6
HALOHalozyme Therapeutics, Inc. · Biotechnology
Whole market+26.2%40.4%0.78−49.1%+1,255%0.29—
7
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+19.8%24.3%0.87−38.9%+448%0.670.59%
8
MPCMarathon Petroleum Corporation · Oil Refining
Whole market+50.0%33.4%1.39−79.7%+1,314%0.18—
9
WELLWelltower Inc. · Healthcare REITs
Whole market+27.0%23.8%1.13−63.3%+378%0.29—
10
SMHVanEck Semiconductor ETF · Semiconductors
Same or nearby category+32.2%37.0%0.94−45.3%+1,570%0.800.35%
11
VCTRVictory Capital Holdings, Inc. · Asset Management
Whole market+27.7%35.0%0.88−45.2%—0.19—
12
NHCNational HealthCare Corporation · Health Care Facilities
Whole market+31.2%28.6%1.10−35.3%+385%0.35—
13
DHTDHT Holdings, Inc. · Oil & Gas
Whole market+40.3%39.0%1.07−39.7%+1,094%0.10—
14
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.17—
15
RYRoyal Bank of Canada · Banks
Whole market+17.5%18.2%0.98−40.0%+361%0.35—
16
NWPXNWPX Infrastructure, Inc. · Infrastructure
Whole market+32.7%36.3%0.97−46.5%+619%0.36—
17
SENEASeneca Foods Corporation · Packaged Foods
Whole market+26.0%36.4%0.82−51.3%+468%0.09—
18
GOOGAlphabet Inc. · Internet Services
Whole market+18.5%32.0%0.69−44.6%+696%0.48—
19
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.5%29.4%1.14−54.9%+485%0.31—
20
INSWInternational Seaways, Inc. · Oil & Gas
Whole market+58.7%40.6%1.35−57.4%—0.06—
21
BBVABanco Bilbao Vizcaya Argentaria, S.A. · Banks
Whole market+39.0%33.3%1.16−69.6%+515%0.28—
22
WMTWalmart Inc. · Discount Retail
Whole market+21.1%22.6%0.97−25.7%+521%0.27—
23
VLOValero Energy Corporation · Oil Refining
Whole market+43.8%36.9%1.18−71.9%+1,014%0.23—
24
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+534%0.38—
25
PSXPhillips 66 · Oil Refining
Whole market+32.7%32.9%1.03−64.2%+413%0.15—
26
ABBVAbbVie Inc. · Specialty Pharmaceuticals
Whole market+25.5%23.4%1.09−45.1%+600%0.18—
27
MFCManulife Financial Corporation · Life Insurance
Whole market+23.3%24.0%1.00−57.5%+386%0.37—
28
DXJWisdomTree Japan Hedged Equity Fund · Japan Equity
Whole market+26.6%19.1%1.34−39.1%+415%0.490.48%
29
INGING Groep N.V. · Banks
Whole market+24.3%31.2%0.86−74.4%+330%0.34—
30
LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity
Whole market+16.9%11.1%1.48−32.4%+194%0.380.40%
31
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+692%0.44—
32
CATCaterpillar Inc. · Industrial Machinery
Whole market+30.7%32.0%1.00−43.4%+913%0.54—
33
PMPhilip Morris International Inc. · Tobacco
Whole market+21.3%23.4%0.94−42.9%+240%0.11—
34
URIUnited Rentals, Inc. · Equipment Rental
Whole market+25.7%39.1%0.78−63.3%+1,407%0.39—
35
NVSNovartis AG · Pharmaceuticals
Whole market+17.4%20.7%0.89−26.8%+234%0.37—
36
MCKMcKesson Corporation · Health Care Distribution
Whole market+37.8%25.1%1.41−38.1%+582%0.13—
37
FTITechnipFMC plc · Oilfield Services
Whole market+54.6%41.2%1.27−85.8%+173%0.25—
38
AMGNAmgen Inc. · Biotechnology
Whole market+20.1%24.9%0.86−24.9%+280%0.18—
39
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+202%0.14—
40
GSThe Goldman Sachs Group, Inc. · Capital Markets
Whole market+19.4%28.6%0.77−48.8%+524%0.46—
41
TDThe Toronto-Dominion Bank · Banks
Whole market+16.5%20.0%0.87−42.0%+319%0.35—
42
IBMInternational Business Machines Corporation · IT Services
Whole market+20.1%30.2%0.76−41.1%+163%0.37—
43
BAPCredicorp Ltd. · Banks
Whole market+29.7%30.3%1.01−59.2%+281%0.45—
44
KBKB Financial Group Inc. · Banks
Whole market+24.2%34.4%0.80−64.1%+364%0.36—
45
TJXThe TJX Companies, Inc. · Apparel Retail
Whole market+19.8%22.3%0.93−42.5%+357%0.29—
46
CIBGrupo Cibest S.A. · Banks
Whole market+33.5%32.9%1.04−70.4%+351%0.34—
47
GLDSPDR Gold Shares · Gold
Whole market+17.1%19.0%0.93−26.4%+206%0.240.40%
48
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.1%26.1%0.77−35.1%+753%0.660.09%
49
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.8%25.7%0.90−30.3%+849%0.11—
50
VRTXVertex Pharmaceuticals Incorporated · Rare Disease Therapeutics
Whole market+23.9%29.1%0.89−41.6%+580%0.15—
51
CMCanadian Imperial Bank of Commerce · Banks
Whole market+19.5%21.6%0.94−47.3%+409%0.39—
52
BNYBank of New York Mellon Corp · Banks
Whole market+22.8%24.4%0.97−50.5%+332%0.34—
53
USFDUS Foods Holding Corp. · Food Distribution
Whole market+23.3%29.8%0.85−77.3%+353%0.43—
54
ETNEaton Corporation plc · Electrical Equipment
Whole market+19.7%32.2%0.72−44.5%+636%0.47—
55
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+360%0.13—
56
PWRQuanta Services, Inc. · Engineering & Construction
Whole market+36.4%37.4%1.02−45.5%+1,878%0.37—
57
TTTrane Technologies plc · Building Products
Whole market+21.4%27.7%0.84−40.5%+927%0.44—
58
FFIVF5, Inc. · Cybersecurity
Whole market+16.7%30.8%0.66−54.6%+279%0.42—
59
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.7%24.9%1.08−41.6%+670%0.34—
60
CORCencora, Inc. · Health Care Distribution
Whole market+23.6%22.8%1.05−32.4%+403%0.32—
61
SNXTD Synnex Corp · Technology Distribution
Whole market+20.2%30.4%0.76−55.8%+427%0.49—
62
MOG-AMoog Inc. · Aerospace Components
Whole market+35.1%32.1%1.10−63.7%+540%0.51—
63
CTASCintas Corporation · Business Services
Whole market+17.1%23.1%0.80−48.4%+834%0.25—
64
MNSTMonster Beverage Corporation · Nonalcoholic Beverages
Whole market+17.4%24.9%0.77−30.4%+278%0.38—
65
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+20.7%26.8%0.84−50.8%+693%0.44—
66
EXELExelixis, Inc. · Oncology
Whole market+25.0%35.8%0.81−57.2%+478%0.14—
67
JCIJohnson Controls International plc · Building Products
Whole market+16.4%29.2%0.67−46.4%+407%0.45—
68
AAPLApple Inc. · Computer Hardware
Same or nearby category+19.1%28.0%0.77−38.5%+1,194%0.39—
69
CMICummins Inc. · Industrial Machinery
Whole market+19.3%29.0%0.76−44.0%+429%0.39—
70
ROSTRoss Stores, Inc. · Apparel Retail
Whole market+17.8%29.5%0.71−51.4%+311%0.31—
71
ETREntergy Corporation · Electric Utilities
Whole market+19.8%22.4%0.92−42.0%+326%0.13—
72
RRyder System, Inc. · Freight & Logistics
Whole market+27.5%32.9%0.90−72.3%+447%0.32—
73
ALLThe Allstate Corporation · Property & Casualty Insurance
Whole market+17.9%26.2%0.76−41.4%+377%-0.02—
74
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Whole market+20.4%23.3%0.92−48.8%+294%0.27—
75
ESLTElbit Systems Ltd. · Aerospace & Defense
Whole market+39.7%34.6%1.14−35.4%+763%0.01—
76
WPMWheaton Precious Metals Corp. · Precious Metals
Whole market+25.8%37.0%0.81−46.7%+488%0.20—
77
PCARPACCAR Inc · Commercial Vehicles
Whole market+17.7%26.2%0.76−37.9%+314%0.36—
78
EMEEMCOR Group, Inc. · Engineering & Construction
Whole market+40.8%35.4%1.15−48.0%+1,116%0.30—
79
ARGXargenx SE · Immunology Therapeutics
Whole market+24.5%39.9%0.75−38.2%—0.02—
80
LAURLaureate Education, Inc. · Education Services
Whole market+36.9%32.8%1.13−64.5%—0.13—
81
AMGAffiliated Managers Group, Inc. · Asset Management
Whole market+19.0%31.9%0.71−78.5%+186%0.50—
82
CBOECboe Global Markets, Inc. · Capital Markets
Whole market+22.0%25.1%0.92−43.2%+481%-0.09—
83
CASYCasey's General Stores, Inc. · Convenience Stores
Whole market+30.8%29.4%1.06−36.1%+560%0.23—
84
IXORIX Corporation · Diversified Financials
Whole market+18.3%25.4%0.79−42.5%+286%0.42—
85
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Broad Commodities
Whole market+21.1%18.4%1.14−45.7%—-0.030.80%
86
IRMIron Mountain Incorporated · Specialty REITs
Whole market+23.8%30.3%0.86−39.0%+456%0.38—
87
KNSLKinsale Capital Group, Inc. · Property & Casualty Insurance
Whole market+18.9%38.8%0.64−46.8%+1,690%0.14—
88
WRBW. R. Berkley Corporation · Property & Casualty Insurance
Whole market+18.6%22.9%0.86−45.3%+466%0.14—
89
NTAPNetApp, Inc. · Computer Hardware
Same or nearby category+20.6%35.3%0.71−58.1%+696%0.30—
90
CAKEThe Cheesecake Factory Incorporated · Casual Dining
Whole market+24.4%39.9%0.75−75.6%+170%0.28—
91
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.94−40.8%+639%0.35—
92
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.1%20.9%0.91−30.9%+485%0.590.13%
93
CWCurtiss-Wright Corporation · Aerospace & Defense
Whole market+29.5%28.8%1.05−48.7%+486%0.39—
94
CHEFThe Chefs' Warehouse, Inc. · Food Distribution
Whole market+27.9%39.7%0.82−91.3%+752%0.32—
95
MCYMercury General Corporation · Property & Casualty Insurance
Whole market+16.9%34.3%0.63−55.3%+203%0.30—
96
GDXVanEck Gold Miners ETF · Gold Mining
Whole market+21.6%38.3%0.70−49.8%+274%0.280.51%
97
VIRTVirtu Financial, Inc. · Capital Markets
Whole market+20.4%33.8%0.72−56.2%+520%0.14—
98
WTWisdomTree, Inc. · Asset Management
Whole market+30.8%32.9%0.98−84.0%+156%0.30—
99
HUBBHubbell Incorporated · Electrical Equipment
Whole market+20.2%30.0%0.77−41.6%+420%0.36—
100
PKGPackaging Corporation of America · Packaging
Whole market+16.6%25.9%0.72−38.2%+302%0.31—

ASML against its popular alternatives

The investments people most often weigh against ASML, compared period by period and year by year.

How do ASML's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at ASML, which divides the map into what did better or worse on each measure.

Green points earned more than ASML with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

0.0%20.0%40.0%60.0%80.0%100%120%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityASML: 15.3% a year, volatility 43.5%SPY (S&P 500): 12.5% a year, volatility 17.2%TSM: 31.0% a year, volatility 38.6%INTC: 13.4% a year, volatility 55.5%KLIC: 7.6% a year, volatility 46.7%UCTT: 0.6% a year, volatility 64.0%COHU: 8.4% a year, volatility 51.7%ICHR: −0.2% a year, volatility 71.3%VECO: 12.6% a year, volatility 49.4%MU: 67.0% a year, volatility 57.1%NVDA: 56.5% a year, volatility 51.9%LRCX: 34.2% a year, volatility 50.1%NVMI: 24.6% a year, volatility 49.7%KLAC: 35.3% a year, volatility 46.9%AEHR: 22.5% a year, volatility 102%TER: 22.1% a year, volatility 54.5%AMAT: 23.6% a year, volatility 47.6%FORM: 20.7% a year, volatility 62.1%CAMT: 25.3% a year, volatility 58.2%ASM: 39.3% a year, volatility 67.1%ONTO: 21.7% a year, volatility 59.8%ACLS: 16.3% a year, volatility 57.6%SNPS: 5.6% a year, volatility 42.4%ASMLSPY (S&P 500)TSMINTCKLICUCTTICHRVECOMUNVDALRCXNVMIKLACAEHRAMATFORMCAMTASMONTOACLSSNPS0.0%20.0%40.0%60.0%80.0%100%120%−20.0%0.0%20.0%40.0%60.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityASML: 15.3% a year, volatility 43.5%SPY (S&P 500): 12.5% a year, volatility 17.2%TSM: 31.0% a year, volatility 38.6%INTC: 13.4% a year, volatility 55.5%KLIC: 7.6% a year, volatility 46.7%UCTT: 0.6% a year, volatility 64.0%COHU: 8.4% a year, volatility 51.7%ICHR: −0.2% a year, volatility 71.3%VECO: 12.6% a year, volatility 49.4%MU: 67.0% a year, volatility 57.1%NVDA: 56.5% a year, volatility 51.9%LRCX: 34.2% a year, volatility 50.1%NVMI: 24.6% a year, volatility 49.7%KLAC: 35.3% a year, volatility 46.9%AEHR: 22.5% a year, volatility 102%TER: 22.1% a year, volatility 54.5%AMAT: 23.6% a year, volatility 47.6%FORM: 20.7% a year, volatility 62.1%CAMT: 25.3% a year, volatility 58.2%ASM: 39.3% a year, volatility 67.1%ONTO: 21.7% a year, volatility 59.8%ACLS: 16.3% a year, volatility 57.6%SNPS: 5.6% a year, volatility 42.4%ASMLSPY (S&P 500)TSMINTCKLICUCTTMUNVDALRCXNVMIKLACAEHRTERFORMASMSNPS
All figures
InvestmentAnnual returnVolatility
MU Micron Technology, Inc.+67.0%57.1%
NVDA NVIDIA Corporation+56.5%51.9%
ASM Avino Silver & Gold Mines Ltd.+39.3%67.1%
KLAC KLA Corporation+35.3%46.9%
LRCX Lam Research Corporation+34.2%50.1%
TSM Taiwan Semiconductor Manufacturing Company Limited+31.0%38.6%
CAMT Camtek Ltd.+25.3%58.2%
NVMI Nova Ltd.+24.6%49.7%
AMAT Applied Materials, Inc.+23.6%47.6%
AEHR Aehr Test Systems+22.5%102%
TER Teradyne, Inc.+22.1%54.5%
ONTO Onto Innovation Inc.+21.7%59.8%
FORM FormFactor, Inc.+20.7%62.1%
ACLS Axcelis Technologies, Inc.+16.3%57.6%
ASML This pageASML Holding N.V.+15.3%43.5%
INTC Intel Corp.+13.4%55.5%
VECO Veeco Instruments Inc.+12.6%49.4%
SPY S&P 500State Street SPDR S&P 500 ETF+12.5%17.2%
COHU Cohu, Inc.+8.4%51.7%
KLIC Kulicke and Soffa Industries, Inc.+7.6%46.7%
SNPS Synopsys, Inc.+5.6%42.4%
UCTT Ultra Clean Holdings, Inc.+0.6%64.0%
ICHR Ichor Holdings, Ltd.−0.2%71.3%
Open these 23 in EasyCompare

Has ASML consistently beaten its popular alternatives?

This section compares ASML with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than ASML helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than ASML over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
ASML ASML Holding N.V. (this page)—−10.7%−13.3%+8.5%+34.7%+55.3%+172%+104%+1,527%43.5%0.55−56.9%—$601B—
MU QualifiedMicron Technology, Inc.4/5 short3/3 longAll-weather−21.9%−10.7%+75.8%+172%+332%+1,193%+1,199%+5,050%57.1%1.19−57.6%—$969B—
NVDA SemiconductorsNVIDIA Corporation2/5 short3/3 long−7.3%+0.2%+5.0%+12.6%+18.0%+395%+839%+12,166%51.9%1.12−66.3%—$5.1T—
LRCX SemiconductorsLam Research Corporation1/5 short3/3 long−25.9%−27.8%−13.2%+24.7%+63.7%+294%+335%+2,542%50.1%0.84−56.4%—$288B—
NVMI SemiconductorsNova Ltd.0/5 short3/3 long−16.2%−31.8%−40.5%−10.7%−5.4%+223%+200%+2,432%49.7%0.69−52.8%—$9.9B—
KLAC SemiconductorsKLA Corporation0/5 short3/3 long−21.5%−31.1%−18.2%+16.4%+33.4%+227%+353%+2,224%46.9%0.88−50.9%—$193B—
AEHR SemiconductorsAehr Test Systems2/5 short2/3 long−44.7%−40.5%−42.8%+151%+135%+77.3%+176%+1,672%102%0.70−87.4%—$1.8B—
TSM SemiconductorsTaiwan Semiconductor Manufacturing Company Limited2/5 short2/3 long−8.8%−1.8%+7.0%+30.0%+44.2%+368%+285%+1,440%38.6%0.90−56.6%—$2.1T—
TER SemiconductorsTeradyne, Inc.2/5 short2/3 long−22.6%−16.4%−19.8%+48.9%+123%+243%+171%+1,379%54.5%0.64−59.1%—$48B—
AMAT SemiconductorsApplied Materials, Inc.2/5 short2/3 long−20.5%−32.1%−6.7%+40.2%+71.2%+186%+188%+1,334%47.6%0.69−55.1%—$298B—
FORM SemiconductorsFormFactor, Inc.2/5 short2/3 long−24.6%−16.2%−35.0%+60.6%+130%+194%+156%+814%62.1%0.61−64.4%—$7.4B—
CAMT SemiconductorsCamtek Ltd.0/5 short2/3 long−21.1%−23.8%−35.7%+3.4%+3.1%+139%+209%+4,182%58.2%0.68−63.2%—$5.6B—
ASM Other Precious MetalsAvino Silver & Gold Mines Ltd.0/5 short2/3 long−26.5%−23.8%−34.7%−19.4%−7.0%+894%+425%+134%67.1%0.83−88.8%—$810M—
ONTO SemiconductorsOnto Innovation Inc.1/5 short1/3 long−30.0%−32.7%−33.2%+19.8%+58.3%+70.5%+167%+852%59.8%0.63−62.8%—$9.7B—
ACLS SemiconductorsAxcelis Technologies, Inc.1/5 short1/3 long−9.5%−26.2%−25.1%+21.6%+28.7%−27.6%+112%+656%57.6%0.55−78.8%—$3.2B—
INTC SemiconductorsIntel Corp.3/5 short0/3 long−31.0%−16.7%+31.0%+117%+132%+157%+87.6%+199%55.5%0.50−70.8%—$452B—
SNPS Software - InfrastructureSynopsys, Inc.2/5 short0/3 long+3.2%+11.9%−11.5%−12.1%−7.0%−9.7%+31.6%+611%42.4%0.35−43.0%—$81B—
KLIC SemiconductorsKulicke and Soffa Industries, Inc.2/5 short0/3 long−18.0%−30.3%−13.5%+52.9%+92.9%+83.4%+44.0%+520%46.7%0.39−60.4%—$3.8B—
UCTT SemiconductorsUltra Clean Holdings, Inc.2/5 short0/3 long−41.9%−56.2%−43.2%+62.7%+59.5%+91.4%+2.9%+483%64.0%0.33−79.3%—$2.0B—
COHU SemiconductorsCohu, Inc.2/5 short0/3 long−28.3%−15.9%+3.2%+88.0%+113%+45.0%+49.7%+339%51.7%0.41−73.6%—$2.2B—
ICHR SemiconductorsIchor Holdings, Ltd.2/5 short0/3 long−34.1%−60.3%−42.2%+85.5%+79.9%+49.5%−1.0%—71.3%0.36−77.4%—$1.4B—
VECO SemiconductorsVeeco Instruments Inc.1/5 short0/3 long−7.2%−24.6%−18.3%+34.7%+44.2%+65.1%+80.6%+93.4%49.4%0.49−81.0%—$2.5B—
Open these 22 in EasyCompare

How did ASML do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where ASML ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with ASML and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of ASML; gray means the two finished within a fraction of a point. The rank row places ASML among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of ASML20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
ASML This pageASML Holding N.V.—+55.8%−7.7%+39.9%−30.5%+64.1%+66.3%+93.2%−9.7%+56.5%+27.9%−17.1%+16.2%+46.9%+19.7%+10.4%+13.2%+90.9%−41.4%+22.3%+22.7%+26.1%−20.6%+140%−51.0%−24.4%−40.5%+273%−9.7%+171%
Rank among alternativesTop quarter in 8 of 298 of 2216 of 2215 of 228 of 2211 of 229 of 227 of 226 of 2212 of 2216 of 2113 of 219 of 218 of 217 of 215 of 2114 of 2111 of 214 of 215 of 216 of 213 of 2012 of 197 of 187 of 1816 of 1810 of 153 of 1411 of 141 of 12
SPY S&P 500State Street SPDR S&P 500 ETF11 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
MU Micron Technology, Inc.12 of 29+240%−1.0%+71.9%−45.9%+24.2%+39.8%+69.5%−22.8%+87.6%+54.7%−59.5%+60.9%+243%+0.8%−21.6%−24.1%+301%−63.6%−48.0%+4.9%+7.8%−8.3%+38.2%−68.6%−12.7%−8.7%+53.8%+94.9%−10.9%
NVDA NVIDIA Corporation15 of 26+38.9%+171%+239%−50.2%+125%+122%+76.4%−30.8%+82.5%+228%+67.1%+27.4%+33.5%−11.0%−10.0%−17.6%+131%−76.3%+37.9%+102%+55.2%+1.6%+102%−82.8%+308%+39.6%———
LRCX Lam Research Corporation15 of 29+139%−6.9%+88.6%−40.7%+53.7%+64.2%+119%−24.4%+75.1%+35.3%+1.5%+46.5%+51.0%−2.5%−28.5%+31.9%+84.1%−50.7%−14.6%+41.6%+23.5%−10.5%+199%−53.4%+59.7%−61.0%+527%−39.1%+4.0%
NVMI Nova Ltd.11 of 25+66.7%+43.4%+68.2%−44.3%+108%+86.6%+66.1%−12.1%+96.9%+34.3%−5.7%+5.6%+23.3%+8.3%−11.3%+28.6%+1,014%−77.6%−1.5%+13.4%−33.1%−41.0%+292%−64.7%−38.8%————
KLAC KLA Corporation12 of 29+94.5%+9.4%+56.0%−11.2%+68.1%+47.9%+104%−12.4%+36.7%+17.0%+2.1%+39.4%+39.0%+2.1%+28.8%+9.9%+69.8%−53.5%−2.7%+1.9%+6.2%−20.3%+65.8%−28.7%+46.6%−39.3%+157%+11.9%+8.9%
AEHR Aehr Test Systems8 of 28+21.4%−37.3%+32.0%−16.9%+856%+26.5%+41.8%−48.0%+12.4%+28.2%−26.3%−17.5%+264%+63.5%−56.7%−9.1%−35.6%−66.4%+22.0%+22.3%−1.2%+33.6%+13.1%−35.5%−19.1%+5.0%−18.4%−23.4%—
TSM Taiwan Semiconductor Manufacturing Company Limited15 of 28+55.7%+92.0%+41.8%−37.0%+11.7%+91.6%+63.3%−4.3%+37.9%+31.2%+4.9%+31.1%+4.5%+37.7%+7.3%+14.9%+52.9%−16.1%−4.3%+18.9%+27.1%−4.2%+56.7%−54.8%+39.5%−51.0%+290%+13.4%—
TER Teradyne, Inc.10 of 29+54.4%+16.5%+24.8%−46.4%+36.8%+76.8%+119%−24.4%+65.8%+24.3%+5.8%+13.4%+4.3%+23.9%−2.9%+30.9%+154%−59.1%−30.9%+2.7%−14.7%−32.9%+95.6%−56.8%−19.1%−43.6%+211%+32.5%+31.3%
AMAT Applied Materials, Inc.11 of 29+59.6%+1.1%+68.0%−37.5%+83.6%+43.3%+89.9%−34.9%+59.8%+75.7%−23.5%+43.7%+58.6%+10.2%−21.9%+3.0%+40.4%−42.1%−2.6%+3.8%+5.4%−23.8%+72.3%−35.0%+5.0%−39.7%+197%+41.7%+67.9%
FORM FormFactor, Inc.6 of 22+26.8%+5.5%+87.6%−51.4%+6.3%+65.6%+84.3%−10.0%+39.7%+24.4%+4.7%+43.1%+31.8%−9.9%−43.0%−59.2%+49.1%−55.9%−11.1%+52.5%−10.0%+37.1%———————
CAMT Camtek Ltd.11 of 25+31.7%+18.3%+216%−52.3%+110%+102%+63.1%+20.5%+77.7%+51.7%−28.0%−25.8%+189%−19.8%−38.4%+13.4%+625%−80.0%−59.5%−0.8%−4.1%+54.3%+835%−91.4%−51.2%————
ASM Avino Silver & Gold Mines Ltd.7 of 20+605%+68.1%−22.9%−20.9%−33.9%+125%−5.4%−54.5%−2.2%+52.2%−28.6%+7.7%−36.1%+28.9%−48.9%+286%+71.4%−73.9%−8.0%+7.4%—————————
ONTO Onto Innovation Inc.14 of 29−5.3%+9.0%+125%−32.7%+113%+30.1%+33.7%+9.7%−0.6%+65.5%−10.0%−11.7%+32.1%−21.7%+43.6%+13.2%+894%−88.4%+24.6%−28.1%−31.8%+9.6%+251%−78.4%+40.5%−31.4%+158%−4.6%+72.4%
ACLS Axcelis Technologies, Inc.11 of 25+15.0%−46.1%+63.4%+6.4%+156%+20.8%+35.4%−38.0%+97.3%+40.4%+1.2%+4.9%+76.8%+3.8%−61.6%+145%+176%−88.9%+216%+22.2%−41.3%−20.4%+82.2%−56.5%+45.2%————
INTC Intel Corp.10 of 29+84.0%−59.6%+94.5%−46.6%+6.0%−14.7%+30.7%+4.2%+30.9%+8.7%−2.2%+44.3%+30.9%−12.0%+19.4%+6.3%+43.9%−43.5%+34.2%−17.2%+8.1%−26.6%+107%−50.3%+4.9%−26.9%+39.1%+69.0%+7.4%
SNPS Synopsys, Inc.14 of 29−3.2%−5.7%+61.3%−13.4%+42.1%+86.2%+65.2%−1.2%+44.8%+29.0%+4.9%+7.1%+27.4%+17.1%+1.1%+20.8%+20.3%−28.6%−3.0%+33.3%+2.6%−42.3%+46.7%−21.9%+24.5%−28.9%+23.0%+51.7%−22.7%
KLIC Kulicke and Soffa Industries, Inc.10 of 29−0.3%−13.2%+25.4%−25.8%+92.4%+19.4%+36.9%−15.4%+52.6%+36.6%−19.3%+8.7%+11.0%+29.6%+28.4%+33.6%+218%−75.3%−18.4%−5.0%+2.5%−40.0%+152%−66.7%+52.5%−47.1%+140%−4.6%−2.1%
UCTT Ultra Clean Holdings, Inc.9 of 21−29.5%+5.3%+3.0%−42.2%+84.1%+32.7%+177%−63.3%+138%+89.5%−44.8%−7.5%+104%−19.6%−34.4%+33.2%+248%−83.5%−1.2%+70.6%+19.5%————————
COHU Cohu, Inc.8 of 29−12.8%−24.6%+10.4%−15.9%−0.2%+67.5%+44.3%−26.0%+59.9%+17.6%+3.6%+15.9%−0.8%−2.1%−30.2%+21.1%+17.6%−19.2%−23.1%−10.7%+24.5%−2.1%+31.9%−24.7%+43.3%−54.6%+185%−27.2%+32.7%
ICHR Ichor Holdings, Ltd.3 of 9−42.8%−4.2%+25.4%−41.7%+52.7%−9.4%+104%−33.7%+127%————————————————————
VECO Veeco Instruments Inc.9 of 29+6.6%−13.6%+67.0%−34.7%+64.0%+18.2%+98.3%−50.1%−49.1%+41.8%−41.0%+6.0%+11.6%+41.8%−51.6%+30.0%+421%−62.0%−10.8%+8.1%−17.8%−25.2%+144%−67.9%−10.2%−14.3%−11.9%+142%0.0%
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Risk and diversification

How ASML has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were ASML's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents ASML's five deepest drawdowns since it began trading in 1995, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means ASML fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringASML fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−90.0%−42.0%Mar 2000Oct 20022.6 yearsMar 20129.4 years
No named crash−75.0%+2.9%Sep 1997Oct 199813 monthsJun 19998 months
2022 bear market−56.9%−18.7%Sep 2021Oct 202213 monthsJan 202415 months
No named crash−45.5%−10.7%Jul 2024Apr 20259 monthsDec 20258 months
No named crash−40.6%+10.7%Jul 1995Dec 19955 monthsJan 199713 months

How did ASML do in stock market crashes?

This section measures how far ASML, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than ASML.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
ASML This pageASML Holding N.V.—−2.9%−48.4%−37.9%−24.4%−7.5%−22.1%−17.7%−2.7%−64.1%−90.0%
SPY S&P 500State Street SPDR S&P 500 ETF8 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
MU Micron Technology, Inc.2 of 10−5.3%−49.6%−42.5%−36.6%−8.8%−49.4%−46.5%−2.0%−84.2%−87.8%
NVDA NVIDIA Corporation1 of 10−5.0%−60.7%−37.5%−55.9%−8.5%−25.3%−23.8%−1.7%−85.1%−89.7%
LRCX Lam Research Corporation4 of 10−3.3%−55.1%−43.7%−22.9%−9.5%−20.5%−20.1%−2.2%−73.3%−87.9%
NVMI Nova Ltd.4 of 9−1.8%−50.1%−31.6%−20.3%−2.8%−27.7%−44.5%−3.9%−86.4%—
KLAC KLA Corporation5 of 10−5.9%−37.6%−33.8%−21.6%−7.5%−13.5%−23.0%−2.8%−71.8%−73.2%
AEHR Aehr Test Systems2 of 10−13.4%−68.5%−52.7%−45.6%−12.7%−56.5%−50.9%0.0%−92.5%−76.3%
TSM Taiwan Semiconductor Manufacturing Company Limited7 of 10−3.9%−54.3%−23.3%−21.4%−9.3%−13.2%−15.7%0.0%−48.0%−82.4%
TER Teradyne, Inc.3 of 10−1.9%−56.6%−34.8%−24.6%−10.7%−18.3%−28.2%−2.5%−79.2%−93.4%
AMAT Applied Materials, Inc.4 of 10−3.6%−54.2%−43.6%−26.4%−9.7%−18.8%−24.5%−1.6%−61.7%−82.0%
FORM FormFactor, Inc.3 of 9−3.1%−45.2%−35.8%−22.6%−11.6%−31.9%−38.0%−3.5%−72.9%—
CAMT Camtek Ltd.1 of 9−5.6%−52.0%−46.5%−27.1%−10.9%−42.1%−47.6%0.0%−90.8%—
ASM Avino Silver & Gold Mines Ltd.2 of 9−0.1%−53.8%−48.8%−27.5%−7.5%−38.5%−47.4%0.0%−88.2%—
ONTO Onto Innovation Inc.4 of 10−4.6%−44.0%−45.9%−31.8%−5.5%−18.6%−28.4%0.0%−92.6%−96.8%
ACLS Axcelis Technologies, Inc.2 of 9−6.5%−41.9%−52.0%−23.6%−12.3%−34.3%−40.7%−7.8%−97.1%—
INTC Intel Corp.9 of 10−1.0%−54.1%−33.5%−13.0%−6.7%−19.7%−16.2%−0.9%−55.2%−82.3%
SNPS Synopsys, Inc.7 of 10−3.7%−29.3%−34.3%−20.3%−8.4%−22.8%−13.7%−1.9%−49.1%−48.0%
KLIC Kulicke and Soffa Industries, Inc.3 of 10−3.1%−41.2%−28.8%−28.2%−7.2%−18.9%−33.3%−6.0%−87.0%−95.3%
UCTT Ultra Clean Holdings, Inc.0 of 9−4.7%−58.8%−52.6%−47.9%−15.2%−43.2%−53.0%−3.3%−94.3%—
COHU Cohu, Inc.5 of 10−2.4%−36.8%−57.1%−42.2%−6.0%−16.3%−30.1%−6.3%−64.4%−82.1%
ICHR Ichor Holdings, Ltd.0 of 5−5.9%−54.6%−58.5%−31.9%−25.1%—————
VECO Veeco Instruments Inc.1 of 10−3.4%−46.5%−53.2%−39.2%−14.2%−30.2%−42.7%−4.0%−81.0%−91.9%
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How closely does ASML move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares ASML with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than ASML's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
ASML This pageASML Holding N.V.170%132%1.291.44
KLAC KLA Corporation152%59%2.571.32
CAMT Camtek Ltd.191%96%1.991.60
TSM Taiwan Semiconductor Manufacturing Company Limited138%75%1.841.15
MU Micron Technology, Inc.204%114%1.791.75
NVDA NVIDIA Corporation248%140%1.771.83
LRCX Lam Research Corporation183%104%1.751.56
FORM FormFactor, Inc.132%81%1.641.29
NVMI Nova Ltd.179%110%1.621.46
AMAT Applied Materials, Inc.152%97%1.581.51
AEHR Aehr Test Systems184%123%1.502.29
ONTO Onto Innovation Inc.139%92%1.501.41
TER Teradyne, Inc.167%121%1.371.53
KLIC Kulicke and Soffa Industries, Inc.131%111%1.181.44
SNPS Synopsys, Inc.124%108%1.161.17
ACLS Axcelis Technologies, Inc.151%136%1.101.67
UCTT Ultra Clean Holdings, Inc.165%156%1.061.93
COHU Cohu, Inc.122%116%1.051.65
INTC Intel Corp.98%100%0.981.43
VECO Veeco Instruments Inc.76%84%0.901.38
ASM Avino Silver & Gold Mines Ltd.140%202%0.701.62
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What diversifies ASML?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with ASML's. Because such investments tend not to fall at the same time, pairing ASML with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which ASML lost money. The last two columns show a portfolio that is 80% ASML and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe202420222018201520082004200220012000199880/20 mix volatility80/20 mix annual return
ASML ASML Holding N.V. (this page)1.00+104%0.55−7.7%−30.5%−9.7%−17.1%−41.4%−20.6%−51.0%−24.4%−40.5%−9.7%42.4%+20.6%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.38+119%1.48+15.9%+3.8%−5.2%———————34.6%+21.2%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.49+225%1.34+29.8%+6.0%−19.8%+7.7%−20.8%—————35.2%+23.1%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.33+103%1.06+33.4%+10.4%−8.7%−25.3%——————35.0%+20.9%
EWP Broad MarketiShares MSCI Spain ETF0.43+141%0.97+5.7%−5.2%−15.3%−15.6%−36.8%+30.2%−13.6%−9.2%−11.8%+50.5%35.7%+21.9%
DIVO Dividend & IncomeAmplify CWP Enhanced Dividend Income ETF0.49+67.8%0.94+16.2%−1.5%−3.2%———————35.1%+19.9%
XLE EnergyState Street Energy Select Sector SPDR ETF0.10+178%0.94+5.6%+64.4%−18.2%−21.5%−39.0%+33.8%−14.8%−18.2%+24.4%—34.8%+23.1%
GLD CommoditiesSPDR Gold Shares0.24+120%0.93+26.7%−0.8%−1.9%−10.7%+4.9%—————34.9%+21.7%
AMLP EnergyAlerian MLP ETF0.20+114%0.90+22.8%+25.5%−12.6%−25.7%——————34.8%+21.7%

Stocks

InvestmentCorrelation5Y returnSharpe202420222018201520082004200220012000199880/20 mix volatility80/20 mix annual return
ASML ASML Holding N.V. (this page)1.00+104%0.55−7.7%−30.5%−9.7%−17.1%−41.4%−20.6%−51.0%−24.4%−40.5%−9.7%42.4%+20.6%
CAH Medical - DistributionCardinal Health, Inc.0.33+471%1.54+19.0%+54.1%−24.5%+12.6%−39.6%−4.7%−8.3%−2.5%+108%+51.7%36.0%+25.4%
CLS Hardware, Equipment & PartsCelestica Inc.0.29+2,780%1.43+215%+1.3%−16.3%−6.0%−20.5%−6.4%−65.1%−25.6%−2.3%—39.0%+38.5%
MCK Medical - DistributionMcKesson Corporation0.13+397%1.41+23.7%+51.8%−28.4%−4.5%−40.4%−1.4%−27.2%+4.9%+61.2%+46.9%34.9%+25.2%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.42+1,452%1.41+107%+17.0%+0.8%+67.7%−15.2%+40.0%−9.4%+73.7%−71.1%−9.5%38.5%+34.0%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.18+660%1.39−4.0%+86.6%−8.2%+17.4%——————35.6%+27.9%
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Common questions

What was ASML's worst drawdown?

ASML's deepest decline since it began trading in 1995 was 90.0%, from March 2000 to October 2002. It took about nine years from the low to climb back to its old high.

What were ASML's best and worst years?

Over 29 full calendar years, ASML's best year was 1999, when it returned 273%. Its worst was 2002, with a return of -51.0%.

Is there a better investment than ASML?

Among ASML's popular alternatives, TSM earned more than ASML with less volatility over the past 5 years: 31.0% a year at 38.6% volatility, against 15.3% a year at 43.5%. Looking beyond its popular alternatives, SMH (semiconductors) and AAPL (computer hardware) earned more than ASML with less volatility over the past 5 years. SMH returned 32.2% a year at 37.0% volatility, against 15.3% a year at 43.5%.

Is ASML more volatile than the S&P 500?

Yes. ASML's volatility over the past 5 years was 43.5%, 2.5 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ASML's return lands within 43.5% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is ASML's Sharpe ratio?

ASML's Sharpe ratio over the past 5 years was 0.55, against 0.78 for the S&P 500, so ASML earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is ASML with the S&P 500?

Over the past 5 years, ASML's monthly returns had a correlation of 0.65 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against ASML instead: the lower it is, the more that option would diversify a ASML holding.

What are the best alternatives to ASML?

Of the 21 popular alternatives we compared, one outperformed ASML in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: MU.

Did ASML outperform the S&P 500?

ASML finished ahead of the S&P 500 (SPY) in 18 of 29 full calendar years. In 2025, it returned +55.8%, against +17.7% for the index.

How did ASML do in stock market crashes?

ASML fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in eight. The clearest case was the dot-com bust, when ASML fell 90.0% and the S&P 500 fell 47.5%.

What diversifies ASML?

These had a low correlation with ASML over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.38), DXJ (correlation 0.49) and EMLP (correlation 0.33); among large stocks, CAH (correlation 0.33), CLS (correlation 0.29) and MCK (correlation 0.13). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to ASML

Other stocks and ETFs