# How Monolithic Power Systems (MPWR) compares with the whole market and its popular alternatives

> Source: BetterThanSPY research, https://betterthanspy.com/research/mpwr
> Data as of October 22, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on MPWR alone. It places MPWR (Monolithic Power Systems, Inc.) 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 MPWR stands in the market, and of the alternatives worth a closer look.

Period covered: MPWR's full trading record, from November 2004 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 22, 2026.

## Key findings

- **Right now:** Over the past 6 months, MPWR fell 23.0% while the S&P 500 rose 8.0%. The slide is MPWR's own: it is 30.7% below its high, against 1.9% for the S&P 500.
- **Stock or market?:** Not a move of its own: the semiconductors ETF SMH (VanEck Semiconductor ETF) fell 10.8% over the past 3 months, with NXPI (NXP Semiconductors, down 14.3%) and MCHP (Microchip Technology, down 11.8%), while the S&P 500 rose 2.5%. Its semiconductor peers did not move as one over the past 3 months: ADI (Analog Devices) rose 0.1%, while STM (STMicroelectronics) fell 32.9%.
- **Past 1 to 3 years:** MPWR's 51.6% fall from August 2024 to April 2025 took 6 months to heal. the S&P 500 fell 10.6% over those same dates.
- **Long term:** MPWR turned $10,000 into $160,000 over the past decade, against $41,600 in the S&P 500. MPWR's 10-year return of 1,495% puts it ahead of 98% of the stocks worth at least $300 million with that much history. The S&P 500 returned 316%.
- **In a crash:** MPWR fell harder than the S&P 500 in five of six sell-offs. The Covid crash was the exception: MPWR fell 27.9%, less than the S&P 500's 33.7%.
- **Diversification:** Against the S&P 500, MPWR has a correlation of 0.58 over 5 years, more closely than 87% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Over 10 years, MPWR's beta versus the S&P 500 was 1.31: in the S&P 500's rising months it gained 1.6 times as much as the index, and in falling months it lost 1.1 times as much.
- **Better options**
  - **Popular alternatives:** NVDA (NVIDIA), TSM (Taiwan Semiconductor Manufacturing) and AVGO (Broadcom) earned more than MPWR with less volatility over the past 5 years. NVDA returned 56.5% a year at 51.9% volatility, against 18.8% a year at 55.5%.
  - **Nearby categories and themes:** APH (Amphenol, electronic components) and SMH (VanEck Semiconductor ETF, semiconductors) earned more than MPWR with less volatility over the past 5 years. APH returned 31.3% a year at 32.4% volatility, against 18.8% a year at 55.5%.
  - **Whole market:** 335 of the 3,641 stocks and funds worth at least $500 million earned more than MPWR with less volatility over the past 5 years, among them NVDA (NVIDIA), TSM (Taiwan Semiconductor Manufacturing) and AVGO (Broadcom).

## How much would $10,000 in MPWR have grown?

This chart tracks a hypothetical $10,000 investment in MPWR over the past 21 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of MPWR over the same span and MPWR's popular alternatives, among those that traded for the entire period.

- $10,000 invested in MPWR at the end of September 2005 would have grown to $1,863,445 by September 2026, more than the $90,973 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of MPWR, and NVDA finished highest, at $8,776,570.

## MPWR 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.

- MPWR is still 30.7% below its all-time high.
- MPWR's deepest decline since it began trading in 2004 was 72.3%, from August to December 2008. It took about five years from the low to climb back to its old high.
- Over 21 full calendar years, MPWR's best was 2020, when it returned 107%, and its worst was 2008, when it lost 41.3%. It lost money in six of those years.

- Type: Stock, Technology (Semiconductors)
- Trading since: November 19, 2004
- Market value: $57B
- Volatility (5 years): 55.5%; Sharpe ratio: 0.59
- Worst decline ever: −72.3%, from August 11, 2008 to December 5, 2008; back at its high by August 7, 2013

| Period | MPWR total return |
| --- | --- |
| 1 month | −15.3% |
| 3 months | −16.4% |
| 6 months | −23.0% |
| year to date | +25.4% |
| 1 year | +17.4% |
| 3 years | +189% |
| 5 years | +137% |
| 10 years | +1,495% |

## MPWR against the whole market

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

### How does MPWR rank among all stocks?

This section ranks MPWR on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- MPWR's 10-year return ranks in the top 2% of the 2,201 stocks worth at least $300 million with 10 years of history.

| Measure | MPWR | Rank |
| --- | --- | --- |
| 1-year return | +17.4% | 1,358 of 3,282 (top 42%) |
| 3-year return | +189% | 434 of 3,016 (top 15%) |
| 5-year return | +137% | 498 of 2,897 (top 18%) |
| 10-year return | +1,495% | 55 of 2,201 (top 3%) |
| Volatility, 5 years | 55.5% | 2,147 of 2,897 (top 75%) |
| Sharpe ratio, 5 years | 0.59 | 717 of 2,897 (top 25%) |
| Worst decline, past 10 years | −51.6% | 520 of 2,184 (top 24%) |

### What has beaten MPWR 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).

- 308 stocks and 27 ETFs worth at least $500 million sit in the green region: each earned more than MPWR over the past 5 years with smaller price swings. That is 9% of the 3,641 screened.
- Among those with at least half MPWR's swings, FIX has the best return for its risk: 73.0% a year at 46.9% volatility, 16% less than MPWR's 55.5%, and a Sharpe ratio (return above cash per unit of volatility) of 1.41 against 0.59 for MPWR. BELFB earned the most, 75.9% a year, while still swinging less than MPWR (52.3% against 55.5%).
- Among MPWR's popular alternatives, NVDA, AVGO and TSM are in the region. NVDA earned 56.5% a year against 18.8% a year for MPWR, at 51.9% volatility, 6% less than MPWR's 55.5%.

### Is there a better investment than MPWR?

The table below lists investments that beat MPWR 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.

- Among MPWR's popular alternatives, NVDA, TSM and AVGO earned more than MPWR with less volatility over the past 5 years. NVDA returned 56.5% a year at 51.9% volatility, against 18.8% a year at 55.5%.
- Looking beyond its popular alternatives, APH (electronic components) and SMH (semiconductors) earned more than MPWR with less volatility over the past 5 years. APH returned 31.3% a year at 32.4% volatility, against 18.8% a year at 55.5%.
- Across the whole market, 335 of the 3,641 stocks and funds worth at least $500 million earned more than MPWR with less volatility over the past 5 years, among them NVDA, TSM and AVGO.

The 15 strongest of 335 investments that beat MPWR over the past 5 years, out of 3,641 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with MPWR | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| MPWR: Monolithic Power Systems, Inc. (this page) |  | +18.8% | 55.5% | 0.59 | −51.6% | +1,495% |  |  |
| [LLY](https://betterthanspy.com/research/lly): Eli Lilly and Company | Pharmaceuticals | +41.2% | 32.8% | 1.22 | −34.5% | +1,870% | 0.00 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [CAT](https://betterthanspy.com/research/cat): Caterpillar Inc. | Industrial Machinery | +30.7% | 32.0% | 1.00 | −43.4% | +913% | 0.37 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MFG](https://betterthanspy.com/research/mfg): Mizuho Financial Group, Inc. | Banks | +33.9% | 30.6% | 1.11 | −45.7% | +343% | 0.12 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [PWR](https://betterthanspy.com/research/pwr): Quanta Services, Inc. | Engineering & Construction | +36.4% | 37.4% | 1.02 | −45.5% | +1,878% | 0.54 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| ESLT: Elbit Systems Ltd. | Aerospace & Defense | +39.7% | 34.6% | 1.14 | −35.4% | +763% | 0.12 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [APH](https://betterthanspy.com/research/aph): Amphenol Corporation | Electronic Components | +31.3% | 32.4% | 1.01 | −37.5% | +887% | 0.45 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| MEDP: Medpace Holdings, Inc. | Contract Research | +28.4% | 52.1% | 0.73 | −42.9% | +2,003% | 0.10 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MPC](https://betterthanspy.com/research/mpc): Marathon Petroleum Corporation | Oil Refining | +50.0% | 33.4% | 1.39 | −79.7% | +1,314% | 0.10 | Higher return, lower volatility; Higher return in most periods |
| [WELL](https://betterthanspy.com/research/well): Welltower Inc. | Healthcare REITs | +27.0% | 23.8% | 1.13 | −63.3% | +378% | 0.29 | Higher return, lower volatility; Higher return in most periods |
| [SMH](https://betterthanspy.com/research/smh): VanEck Semiconductor ETF | Semiconductors | +32.2% | 37.0% | 0.94 | −45.3% | +1,570% | 0.69 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| VCTR: Victory Capital Holdings, Inc. | Asset Management | +27.7% | 35.0% | 0.88 | −45.2% | — | 0.30 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| NHC: National HealthCare Corporation | Health Care Facilities | +31.2% | 28.6% | 1.10 | −35.3% | +385% | 0.29 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| DHT: DHT Holdings, Inc. | Oil & Gas | +40.3% | 39.0% | 1.07 | −39.7% | +1,094% | 0.20 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| FLTW: Franklin FTSE Taiwan ETF | International Equity | +21.3% | 24.4% | 0.92 | −38.0% | — | 0.60 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| QTUM: Defiance Quantum ETF | Quantum Computing | +22.1% | 28.2% | 0.85 | −38.5% | — | 0.60 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## MPWR against its popular alternatives

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

### How do MPWR'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.

- NVDA, AVGO and TSM were both more rewarding and calmer than MPWR over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, MPWR returned 18.9% a year, more than the S&P 500's 12.5%, with higher volatility (55.5% against 17.2%).

### Has MPWR consistently beaten its popular alternatives?

This section compares MPWR with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Three of the 21 popular alternatives, NVDA, AMD and TSM, outperformed MPWR in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- NVDA and AMD outperformed MPWR in every long-term period and in all but one short-term period, the most consistent record in the group.
- AVGO and ADI earned more for the risk they took than MPWR (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of MPWR | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| MPWR: Monolithic Power Systems, Inc. (this page) | +17.4% | +189% | +137% | +1,495% |  |  | 0.59 |
| [NVDA](https://betterthanspy.com/research/nvda): NVIDIA Corporation | +18.0% | +395% | +839% | +12,166% | 4/5 short-term, 3/3 long-term | all-weather | 1.12 |
| [AMD](https://betterthanspy.com/research/amd): Advanced Micro Devices, Inc. | +121% | +408% | +324% | +7,146% | 4/5 short-term, 3/3 long-term | all-weather | 0.79 |
| [TSM](https://betterthanspy.com/research/tsm): Taiwan Semiconductor Manufacturing Company Limited | +44.2% | +368% | +285% | +1,440% | 5/5 short-term, 2/3 long-term | consistent | 0.90 |
| [AVGO](https://betterthanspy.com/research/avgo): Broadcom Inc. | −4.3% | +287% | +585% | +2,254% | 1/5 short-term, 3/3 long-term |  | 1.09 |
| [VRT](https://betterthanspy.com/research/vrt): Vertiv Holdings Co | +14.1% | +427% | +717% | — | 0/5 short-term, 2/3 long-term |  | 0.99 |
| MXL: MaxLinear, Inc. | +289% | +234% | +23.5% | +233% | 3/5 short-term, 1/3 long-term |  | 0.45 |
| SITM: SiTime Corporation | +74.3% | +341% | +102% | — | 2/5 short-term, 1/3 long-term |  | 0.57 |
| [ADI](https://betterthanspy.com/research/adi): Analog Devices, Inc. | +62.5% | +147% | +135% | +625% | 5/5 short-term, 0/3 long-term |  | 0.67 |
| [TXN](https://betterthanspy.com/research/txn): Texas Instruments Incorporated | +68.0% | +108% | +61.8% | +413% | 5/5 short-term, 0/3 long-term |  | 0.45 |
| SLAB: Silicon Laboratories Inc. | +67.7% | +121% | +45.9% | +274% | 5/5 short-term, 0/3 long-term |  | 0.39 |
| SYNA: Synaptics Incorporated | +69.9% | +34.8% | −34.2% | +69.8% | 5/5 short-term, 0/3 long-term |  | 0.12 |
| ON: ON Semiconductor Corporation | +41.0% | −12.4% | +59.3% | +506% | 4/5 short-term, 0/3 long-term |  | 0.45 |
| DIOD: Diodes Incorporated | +45.1% | +13.6% | −11.4% | +294% | 4/5 short-term, 0/3 long-term |  | 0.20 |
| [MCHP](https://betterthanspy.com/research/mchp): Microchip Technology Incorporated | +18.5% | +8.0% | +10.5% | +197% | 4/5 short-term, 0/3 long-term |  | 0.27 |
| [STM](https://betterthanspy.com/research/stm): STMicroelectronics N.V. | +52.8% | +14.3% | +4.8% | +498% | 3/5 short-term, 0/3 long-term |  | 0.26 |
| [NXPI](https://betterthanspy.com/research/nxpi): NXP Semiconductors N.V. | +11.4% | +37.5% | +30.4% | +166% | 3/5 short-term, 0/3 long-term |  | 0.33 |
| VSH: Vishay Intertechnology, Inc. | +65.3% | +26.0% | +54.0% | +127% | 3/5 short-term, 0/3 long-term |  | 0.42 |
| POWI: Power Integrations, Inc. | +13.1% | −29.8% | −50.9% | +65.6% | 2/5 short-term, 0/3 long-term |  | -0.08 |
| CRUS: Cirrus Logic, Inc. | −14.3% | +65.2% | +37.6% | +100% | 1/5 short-term, 0/3 long-term |  | 0.36 |
| ALGM: Allegro MicroSystems, Inc. | +3.2% | +11.8% | −4.3% | — | 1/5 short-term, 0/3 long-term |  | 0.25 |
| NVTS: Navitas Semiconductor Corp | −37.6% | +57.8% | −30.3% | — | 0/5 short-term, 0/3 long-term |  | 0.44 |

### How did MPWR do year by year?

This table shows each investment's total return in every full calendar year since 2005, along with where MPWR ranked among its popular alternatives each year.

- Ranked against its popular alternatives each year, MPWR finished in the top quarter in nine of 21 years and in the bottom quarter in two. In 2025, it ranked 5 of 22.
- MPWR finished ahead of the S&P 500 in 15 of its 21 full calendar years.
- Among its popular alternatives, SITM came out ahead of MPWR most often, in four of the six years both traded.

| Year | MPWR | SPY |
| --- | --- | --- |
| 2025 | +54.4% | +17.7% |
| 2024 | −5.5% | +24.9% |
| 2023 | +79.8% | +26.2% |
| 2022 | −27.8% | −18.2% |
| 2021 | +35.5% | +28.7% |
| 2020 | +107% | +18.3% |
| 2019 | +54.8% | +31.2% |
| 2018 | +4.5% | −4.6% |
| 2017 | +38.2% | +21.7% |
| 2016 | +30.1% | +12.0% |

## Risk and diversification

How MPWR 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 MPWR's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all five of MPWR's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: MPWR fell 58.5% from February to August 2006, while the S&P 500 rose 1.3%.
- The slowest recovery came after MPWR fell 72.3% from August to December 2008; it did not regain that peak until August 2013, five years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −72.3% | August 11, 2008 | December 5, 2008 | August 7, 2013 | −32.3% | 2008 financial crisis |
| −58.5% | February 9, 2006 | August 11, 2006 | August 20, 2007 | +1.3% |  |
| −51.6% | August 21, 2024 | April 8, 2025 | October 6, 2025 | −10.6% |  |
| −47.4% | December 3, 2004 | May 12, 2005 | October 24, 2005 | −1.9% |  |
| −46.0% | November 16, 2021 | October 14, 2022 | July 13, 2023 | −22.6% | 2022 bear market |

### How did MPWR do in stock market crashes?

This section measures how far MPWR, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- MPWR fell further than the S&P 500 in eight of the nine crashes it has traded through. The clearest case was the 2008 financial crisis, when MPWR fell 72.3% and the S&P 500 fell 55.2%.
- Among its popular alternatives, ADI held up best, falling less than MPWR in seven of the nine crashes they both traded through.
- MPWR began trading after the dot-com bust, but 11 of its popular alternatives lived through it. The mildest fall among them was MCHP's 58.7%, against 47.5% for the S&P 500.

| Crash | Dates | MPWR fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −72.3% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −5.4% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −32.0% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −18.1% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −9.8% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −21.4% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −27.9% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −39.7% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −5.1% | −3.4% |

### How closely does MPWR 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.

- Over the past 10 years, MPWR captured 156% of the S&P 500's gains in rising months and 107% of its losses in falling months, with a beta of 1.31. It amplified the market's moves in both directions.
- Only AVGO, TSM and NVDA had a higher capture ratio (upside capture divided by downside capture) than MPWR's 1.46, out of 17 popular alternatives with the same record.
- TSM took just 75% of the S&P 500's losses, against 107% for MPWR, while still keeping 138% of its gains.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| MPWR: Monolithic Power Systems, Inc. (this page) | 156% | 107% | 1.31 |
| [NVDA](https://betterthanspy.com/research/nvda): NVIDIA Corporation | 248% | 140% | 1.83 |
| [AMD](https://betterthanspy.com/research/amd): Advanced Micro Devices, Inc. | 254% | 179% | 2.25 |
| [TSM](https://betterthanspy.com/research/tsm): Taiwan Semiconductor Manufacturing Company Limited | 138% | 75.0% | 1.15 |
| [AVGO](https://betterthanspy.com/research/avgo): Broadcom Inc. | 158% | 86.0% | 1.19 |
| MXL: MaxLinear, Inc. | 140% | 169% | 2.95 |
| [ADI](https://betterthanspy.com/research/adi): Analog Devices, Inc. | 117% | 92.0% | 1.20 |
| [TXN](https://betterthanspy.com/research/txn): Texas Instruments Incorporated | 113% | 108% | 1.18 |
| SLAB: Silicon Laboratories Inc. | 113% | 130% | 1.18 |
| SYNA: Synaptics Incorporated | 117% | 188% | 1.64 |
| ON: ON Semiconductor Corporation | 161% | 185% | 1.95 |
| DIOD: Diodes Incorporated | 128% | 146% | 1.53 |
| [MCHP](https://betterthanspy.com/research/mchp): Microchip Technology Incorporated | 127% | 170% | 1.72 |
| [STM](https://betterthanspy.com/research/stm): STMicroelectronics N.V. | 122% | 104% | 1.72 |
| [NXPI](https://betterthanspy.com/research/nxpi): NXP Semiconductors N.V. | 115% | 157% | 1.63 |
| VSH: Vishay Intertechnology, Inc. | 118% | 160% | 1.61 |
| POWI: Power Integrations, Inc. | 89.0% | 133% | 1.28 |
| CRUS: Cirrus Logic, Inc. | 71.0% | 85.0% | 1.02 |

### What diversifies MPWR?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in MPWR into MCK would have cut the portfolio's volatility by 21% over the past 5 years and raised its annual return (+23.6% for MPWR alone, +28.5% for the mix).
- XLE made money in five of the six calendar years in which MPWR lost money.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of MPWR over the past 5 years, with correlations of 0.28 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with MPWR | 5Y return | Volatility | Sharpe | Rose in MPWR's 6 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.28 | +119% | 11.1% | 1.48 | 2 of 6 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.26 | +225% | 19.1% | 1.34 | 2 of 6 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.21 | +103% | 14.5% | 1.06 | 2 of 6 |
| HDV: iShares Core High Dividend ETF | 0.21 | +86.8% | 13.0% | 1.03 | 2 of 6 |
| EWP: iShares MSCI Spain ETF | 0.36 | +141% | 20.3% | 0.97 | 2 of 6 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.47 | +83.6% | 13.8% | 0.95 | 1 of 6 |
| [XLE](https://betterthanspy.com/research/xle): State Street Energy Select Sector SPDR ETF | 0.04 | +178% | 25.5% | 0.94 | 5 of 6 |
| [GLD](https://betterthanspy.com/research/gld): SPDR Gold Shares | 0.17 | +120% | 19.0% | 0.93 | 5 of 6 |

## Common questions

### What was MPWR's worst drawdown?

MPWR's deepest decline since it began trading in 2004 was 72.3%, from August to December 2008. It took about five years from the low to climb back to its old high. Because MPWR launched in November 2004, that record does not include the dot-com bust.

### What were MPWR's best and worst years?

Over 21 full calendar years, MPWR's best year was 2020, when it returned 107%. Its worst was 2008, with a return of -41.3%.

### Is there a better investment than MPWR?

Among MPWR's popular alternatives, NVDA, TSM and AVGO earned more than MPWR with less volatility over the past 5 years. NVDA returned 56.5% a year at 51.9% volatility, against 18.8% a year at 55.5%. Looking beyond its popular alternatives, APH (electronic components) and SMH (semiconductors) earned more than MPWR with less volatility over the past 5 years. APH returned 31.3% a year at 32.4% volatility, against 18.8% a year at 55.5%.

### Is MPWR more volatile than the S&P 500?

Yes. MPWR's volatility over the past 5 years was 55.5%, 3.2 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, MPWR's return lands within 55.5% 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 MPWR's Sharpe ratio?

MPWR's Sharpe ratio over the past 5 years was 0.59, against 0.78 for the S&P 500, so MPWR 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 MPWR with the S&P 500?

Over the past 5 years, MPWR's monthly returns had a correlation of 0.58 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 MPWR instead: the lower it is, the more that option would diversify a MPWR holding.

### What are the best alternatives to MPWR?

Of the 21 popular alternatives we compared, three outperformed MPWR in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: NVDA, AMD and TSM.

### Did MPWR outperform the S&P 500?

MPWR finished ahead of the S&P 500 (SPY) in 15 of 21 full calendar years. In 2025, it returned +54.5%, against +17.7% for the index.

### How did MPWR do in stock market crashes?

MPWR fell less than the S&P 500 (SPY) in one of the nine major crashes it has traded through, and further in eight. The clearest case was the 2008 financial crisis, when MPWR fell 72.3% and the S&P 500 fell 55.2%.

### What diversifies MPWR?

These had a low correlation with MPWR over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.28), DXJ (correlation 0.26) and EMLP (correlation 0.21); among large stocks, CAH (correlation -0.04), CLS (correlation 0.31) and MCK (correlation -0.16). A correlation near zero means the two have moved largely independently.

## More research

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- [Texas Instruments (TXN) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/txn)
- [Microchip Technology (MCHP) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/mchp)
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- [NXP Semiconductors (NXPI) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/nxpi)
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## Explore further

- Full page with charts: https://betterthanspy.com/research/mpwr
- All research pages: https://betterthanspy.com/llms.txt
- Compare the entire market against MPWR live: https://betterthanspy.com/?b=MPWR