BetterThanSPY

Relative Intelligence · Semiconductor Equipment

How Teradyne (TER) compares with the whole market and its popular alternatives

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

Period covered: TER's full trading record, from October 1986 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 TER →Chart TER vs. 22 alternatives →

This page answers the following questions about TER

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 TER have grown?

This chart tracks a hypothetical $10,000 investment in TER over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of TER over the same span and TER'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. 361 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of TER; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$1,000$10,000$100,000$1M199720022007201220172022$1,000$10,000$100,000$1M19972004201120182025
  • LRCX$2M+24,786% total · +21.0% a year
  • ROK$1M+12,857% total · +18.3% a year
  • KLAC$1M+10,976% total · +17.6% a year
  • ASML$984,088+9,741% total · +17.1% a year
  • AMAT$594,575+5,846% total · +15.1% a year
  • TXN$277,580+2,676% total · +12.1% 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
  • KLIC$46,988+370% total · +5.5% 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. 226 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of TER; 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
  • NVDA$110,811+1,008% total · +61.8% a year
  • AEHR$72,982+630% total · +48.8% a year
  • KLAC$61,203+512% total · +43.7% a year
  • LRCX$60,701+507% total · +43.4% a year
  • TSM$43,622+336% total · +34.3% a year
  • AMAT$41,406+314% total · +32.9% a year
  • CAMT$38,960+290% total · +31.3% a year
  • TER$37,422+274% total · +30.2% 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

TER 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
$48B
Industry
Semiconductors
Price history from
October 1986

Returns

Past 1 year
+123%total return
Past 3 years
+243%+50.8% a year
Past 5 years
+171%+22.1% a year
Past 10 years
+1,379%+30.9% a year
Best calendar year
+211%1999
Worst calendar year
−59.1%2008
Losing years
10 of 29full calendar years

Risk

Volatility
54.5%typical yearly swing, 5 years
Sharpe ratio
0.64return per unit of risk, 5 years
Worst decline ever
−97.3%Apr 2000 to Nov 2008
From its all-time high
−36.2%below the peak

TER against the whole market

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

How does TER rank among all stocks?

This section ranks TER 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 TER 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.

MeasureTERRankStanding
1-year return+123%119 of 3,282top 4%
3-year return+243%300 of 3,016top 10%
5-year return+171%376 of 2,897top 13%
10-year return+1,379%65 of 2,201top 3%
Volatility, 5 years54.5%2,097 of 2,897bottom 29%
Sharpe ratio, 5 years0.64581 of 2,897top 20%
Worst decline, past 10 years−59.1%848 of 2,184top 39%

What has beaten TER 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). TER sits where the dashed lines cross. Anything in the green box above and to the left earned more than TER 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 TER; faint dots are 87 more of the 225 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.

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%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than TERCOKE: +41.6% a year, volatility 38.0%HALO: +26.2% a year, volatility 40.4%JXN: +42.4% a year, volatility 43.3%VCTR: +27.7% a year, volatility 35.0%NHC: +31.2% a year, volatility 28.6%TRGP: +41.8% a year, volatility 31.7%SII: +24.1% a year, volatility 39.2%CAH: +41.7% a year, volatility 24.7%GE: +36.0% a year, volatility 31.0%SAN: +31.7% a year, volatility 33.9%BBVA: +39.0% a year, volatility 33.3%VLO: +43.8% a year, volatility 36.9%IBKR: +35.3% a year, volatility 35.5%ABBV: +25.5% a year, volatility 23.4%AEM: +28.2% a year, volatility 38.5%CAT: +30.7% a year, volatility 32.0%RCL: +28.5% a year, volatility 48.4%PANW: +33.4% a year, volatility 43.4%MCK: +37.8% a year, volatility 25.1%TEVA: +31.7% a year, volatility 42.8%AU: +38.0% a year, volatility 50.0%BAP: +29.7% a year, volatility 30.3%NWG: +27.6% a year, volatility 34.1%MFG: +33.9% a year, volatility 30.6%CIB: +33.5% a year, volatility 32.9%SMFG: +34.0% a year, volatility 29.4%VRTX: +23.9% a year, volatility 29.1%THC: +30.8% a year, volatility 45.0%XPO: +30.0% a year, volatility 47.0%STX: +53.4% a year, volatility 48.8%GWW: +26.7% a year, volatility 24.9%COR: +23.6% a year, volatility 22.8%EMBJ: +32.5% a year, volatility 45.0%IDCC: +39.4% a year, volatility 36.9%AVGO: +46.9% a year, volatility 44.6%WPM: +25.8% a year, volatility 37.0%EME: +40.8% a year, volatility 35.4%HPE: +32.8% a year, volatility 42.3%ARGX: +24.5% a year, volatility 39.9%EAT: +33.6% a year, volatility 48.8%CASY: +30.8% a year, volatility 29.4%BWLP: +60.5% a year, volatility 50.9%BVN: +28.8% a year, volatility 45.5%IRM: +23.8% a year, volatility 30.3%LGND: +29.3% a year, volatility 44.2%AMRX: +29.3% a year, volatility 50.5%CAKE: +24.4% a year, volatility 39.9%RS: +24.8% a year, volatility 28.1%CW: +29.5% a year, volatility 28.8%LPG: +55.8% a year, volatility 43.6%CHEF: +27.9% a year, volatility 39.7%MLI: +36.5% a year, volatility 33.4%AAMI: +28.3% a year, volatility 35.6%FRO: +53.9% a year, volatility 49.7%DTM: +25.0% a year, volatility 25.2%CGAU: +24.3% a year, volatility 47.7%DXPE: +37.0% a year, volatility 46.4%PBR-A: +53.5% a year, volatility 37.4%MPC: +50.0% a year, volatility 33.4%NMM: +25.2% a year, volatility 39.5%ALSN: +27.8% a year, volatility 29.9%TK: +48.3% a year, volatility 41.7%MUSA: +25.3% a year, volatility 31.2%EZPW: +30.9% a year, volatility 35.8%WELL: +27.0% a year, volatility 23.8%GLW: +29.7% a year, volatility 42.2%PBI: +24.6% a year, volatility 51.0%SNEX: +32.5% a year, volatility 37.3%UVE: +34.6% a year, volatility 42.8%FSS: +23.2% a year, volatility 31.7%ACA: +23.4% a year, volatility 34.0%HWM: +45.1% a year, volatility 32.7%TFPM: +27.9% a year, volatility 37.8%DHT: +40.3% a year, volatility 39.0%USLM: +36.8% a year, volatility 36.1%MPLX: +24.0% a year, volatility 18.8%FET: +28.3% a year, volatility 51.0%HURN: +31.3% a year, volatility 40.8%HWKN: +29.8% a year, volatility 36.6%UFPT: +36.5% a year, volatility 46.0%ATI: +58.9% a year, volatility 43.2%XOM: +27.5% a year, volatility 26.5%IGIC: +30.6% a year, volatility 30.9%ODC: +36.9% a year, volatility 36.9%NWPX: +32.7% a year, volatility 36.3%SENEA: +26.0% a year, volatility 36.4%HSBC: +32.8% a year, volatility 25.9%TER: +22.1% a year, volatility 54.5%SPY (S&P 500): +12.5% a year, volatility 17.2%TSM: +31.0% a year, volatility 38.6%KLAC: +35.3% a year, volatility 46.9%NVDA: +56.5% a year, volatility 51.9%LRCX: +34.2% a year, volatility 50.1%AMAT: +23.6% a year, volatility 47.6%CAMT: +25.3% a year, volatility 58.2%ANET: +47.6% a year, volatility 49.1%APH: +31.3% a year, volatility 32.4%ASX: +47.3% a year, volatility 43.3%SMH: +32.2% a year, volatility 37.0%MU: +67.0% a year, volatility 57.1%PSI: +22.2% a year, volatility 41.8%LLY: +41.2% a year, volatility 32.8%PWR: +36.4% a year, volatility 37.4%VST: +51.7% a year, volatility 48.8%ESLT: +39.7% a year, volatility 34.6%BNY: +22.8% a year, volatility 24.4%DXJ: +26.6% a year, volatility 19.1%CRWD: +27.4% a year, volatility 52.7%EPU: +28.1% a year, volatility 24.9%FIX: +73.0% a year, volatility 46.9%TERSPY (S&P 500)TSMKLACNVDALRCXAMATCAMTANETAPHASXMUPSILLYPWRVSTESLTBNYDXJCRWDEPUFIX10.0%20.0%30.0%40.0%50.0%60.0%0.0%20.0%40.0%60.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than TERCOKE: +41.6% a year, volatility 38.0%HALO: +26.2% a year, volatility 40.4%JXN: +42.4% a year, volatility 43.3%VCTR: +27.7% a year, volatility 35.0%NHC: +31.2% a year, volatility 28.6%TRGP: +41.8% a year, volatility 31.7%SII: +24.1% a year, volatility 39.2%CAH: +41.7% a year, volatility 24.7%GE: +36.0% a year, volatility 31.0%SAN: +31.7% a year, volatility 33.9%BBVA: +39.0% a year, volatility 33.3%VLO: +43.8% a year, volatility 36.9%IBKR: +35.3% a year, volatility 35.5%ABBV: +25.5% a year, volatility 23.4%AEM: +28.2% a year, volatility 38.5%CAT: +30.7% a year, volatility 32.0%RCL: +28.5% a year, volatility 48.4%PANW: +33.4% a year, volatility 43.4%MCK: +37.8% a year, volatility 25.1%TEVA: +31.7% a year, volatility 42.8%AU: +38.0% a year, volatility 50.0%BAP: +29.7% a year, volatility 30.3%NWG: +27.6% a year, volatility 34.1%MFG: +33.9% a year, volatility 30.6%CIB: +33.5% a year, volatility 32.9%SMFG: +34.0% a year, volatility 29.4%VRTX: +23.9% a year, volatility 29.1%THC: +30.8% a year, volatility 45.0%XPO: +30.0% a year, volatility 47.0%STX: +53.4% a year, volatility 48.8%GWW: +26.7% a year, volatility 24.9%COR: +23.6% a year, volatility 22.8%EMBJ: +32.5% a year, volatility 45.0%IDCC: +39.4% a year, volatility 36.9%AVGO: +46.9% a year, volatility 44.6%WPM: +25.8% a year, volatility 37.0%EME: +40.8% a year, volatility 35.4%HPE: +32.8% a year, volatility 42.3%ARGX: +24.5% a year, volatility 39.9%EAT: +33.6% a year, volatility 48.8%CASY: +30.8% a year, volatility 29.4%BWLP: +60.5% a year, volatility 50.9%BVN: +28.8% a year, volatility 45.5%IRM: +23.8% a year, volatility 30.3%LGND: +29.3% a year, volatility 44.2%AMRX: +29.3% a year, volatility 50.5%CAKE: +24.4% a year, volatility 39.9%RS: +24.8% a year, volatility 28.1%CW: +29.5% a year, volatility 28.8%LPG: +55.8% a year, volatility 43.6%CHEF: +27.9% a year, volatility 39.7%MLI: +36.5% a year, volatility 33.4%AAMI: +28.3% a year, volatility 35.6%FRO: +53.9% a year, volatility 49.7%DTM: +25.0% a year, volatility 25.2%CGAU: +24.3% a year, volatility 47.7%DXPE: +37.0% a year, volatility 46.4%PBR-A: +53.5% a year, volatility 37.4%MPC: +50.0% a year, volatility 33.4%NMM: +25.2% a year, volatility 39.5%ALSN: +27.8% a year, volatility 29.9%TK: +48.3% a year, volatility 41.7%MUSA: +25.3% a year, volatility 31.2%EZPW: +30.9% a year, volatility 35.8%WELL: +27.0% a year, volatility 23.8%GLW: +29.7% a year, volatility 42.2%PBI: +24.6% a year, volatility 51.0%SNEX: +32.5% a year, volatility 37.3%UVE: +34.6% a year, volatility 42.8%FSS: +23.2% a year, volatility 31.7%ACA: +23.4% a year, volatility 34.0%HWM: +45.1% a year, volatility 32.7%TFPM: +27.9% a year, volatility 37.8%DHT: +40.3% a year, volatility 39.0%USLM: +36.8% a year, volatility 36.1%MPLX: +24.0% a year, volatility 18.8%FET: +28.3% a year, volatility 51.0%HURN: +31.3% a year, volatility 40.8%HWKN: +29.8% a year, volatility 36.6%UFPT: +36.5% a year, volatility 46.0%ATI: +58.9% a year, volatility 43.2%XOM: +27.5% a year, volatility 26.5%IGIC: +30.6% a year, volatility 30.9%ODC: +36.9% a year, volatility 36.9%NWPX: +32.7% a year, volatility 36.3%SENEA: +26.0% a year, volatility 36.4%HSBC: +32.8% a year, volatility 25.9%TER: +22.1% a year, volatility 54.5%SPY (S&P 500): +12.5% a year, volatility 17.2%TSM: +31.0% a year, volatility 38.6%KLAC: +35.3% a year, volatility 46.9%NVDA: +56.5% a year, volatility 51.9%LRCX: +34.2% a year, volatility 50.1%AMAT: +23.6% a year, volatility 47.6%CAMT: +25.3% a year, volatility 58.2%ANET: +47.6% a year, volatility 49.1%APH: +31.3% a year, volatility 32.4%ASX: +47.3% a year, volatility 43.3%SMH: +32.2% a year, volatility 37.0%MU: +67.0% a year, volatility 57.1%PSI: +22.2% a year, volatility 41.8%LLY: +41.2% a year, volatility 32.8%PWR: +36.4% a year, volatility 37.4%VST: +51.7% a year, volatility 48.8%ESLT: +39.7% a year, volatility 34.6%BNY: +22.8% a year, volatility 24.4%DXJ: +26.6% a year, volatility 19.1%CRWD: +27.4% a year, volatility 52.7%EPU: +28.1% a year, volatility 24.9%FIX: +73.0% a year, volatility 46.9%TERSPY (S&P 500)TSMKLACNVDAAMATANETAPHASXMUPSILLYPWRVSTESLTBNYDXJCRWDEPUFIX
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than TER?

Investments that beat TER 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 TER 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 TER'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 TER 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 TER'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× TER's volatility counts as better.

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

Screen the whole market against TER for any period in BetterThanSPYOpen these 21 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 TER?lower diversifies moreExpenseper year
TERTeradyne, Inc. · this page
+22.1%54.5%0.64−59.1%+1,379%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.5%17.2%0.78−33.7%+316%0.550.09%
Popular alternativesbest 6 shownThe investments people most often weigh against TER. 6 of 22 passed at least one test.
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Higher return, lower volatilityHigher return in most periodsSmaller losses in recent crashes+31.0%38.6%0.90−56.6%+1,440%0.60—
KLACKLA Corporation · Semiconductor Equipment
Higher return, lower volatilityHigher Sharpe, smaller worst decline+35.3%46.9%0.88−50.9%+2,224%0.69—
NVDANVIDIA Corporation · Semiconductors
Higher return, similar volatilityHigher return in most periods+56.5%51.9%1.12−66.3%+12,166%0.48—
LRCXLam Research Corporation · Semiconductor Equipment
Higher return, lower volatility+34.2%50.1%0.84−56.4%+2,542%0.70—
AMATApplied Materials, Inc. · Semiconductor Equipment
Higher return, lower volatility+23.6%47.6%0.69−55.1%+1,334%0.73—
CAMTCamtek Ltd. · Semiconductor Equipment
Higher return, similar volatility+25.3%58.2%0.68−63.2%+4,182%0.57—
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 TER's specific themes. 29 of 118 passed at least one test.
ANETArista Networks, Inc. · Communications Equipment
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+47.6%49.1%1.04−52.2%+3,158%0.44—
APHAmphenol Corporation · Electronic Components
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+31.3%32.4%1.01−37.5%+887%0.64—
ASXASE Technology Holding Co., Ltd. · Semiconductors
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+47.3%43.3%1.11−52.5%+883%0.73—
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%0.720.35%
MUMicron Technology, Inc. · Semiconductors
Higher return, similar volatilityHigher return in most periods+67.0%57.1%1.19−57.6%+5,050%0.52—
PSIInvesco Semiconductors ETF · Semiconductors
Similar return, lower volatility+22.2%41.8%0.69−44.9%+1,027%0.790.55%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 326 of 3,516 passed at least one test.
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+41.2%32.8%1.22−34.5%+1,870%0.20—
PWRQuanta Services, Inc. · Engineering & Construction
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+36.4%37.4%1.02−45.5%+1,878%0.47—
VSTVistra Corp. · Independent Power Producers
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+51.7%48.8%1.10−53.3%+1,130%0.28—
ESLTElbit Systems Ltd. · Aerospace & Defense
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+39.7%34.6%1.14−35.4%+763%-0.04—
BNYBank of New York Mellon Corp · Banks
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+22.8%24.4%0.97−50.5%+332%0.27—
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%0.450.48%
CRWDCrowdStrike Holdings, Inc. · Cybersecurity
Higher return, similar volatilityHigher return in most periods+27.4%52.7%0.72−67.7%—0.13—
EPUiShares MSCI Peru and Global Exposure ETF · International Equity
Higher return, lower volatilityHigher Sharpe, smaller worst decline+28.1%24.9%1.12−51.0%+258%0.370.59%
What these numbers mean for TER
Annual return
TER returned 22.1% 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 $27,100. 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
TER's volatility over the past 5 years was 54.5%, 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, TER's return lands within 54.5% 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
TER's Sharpe ratio over the past 5 years was 0.64, against 0.78 for the S&P 500, so TER 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
TER's worst fall from a peak to a low over the past 10 years was 59.1%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 59.1% fall takes a 145% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, TER's monthly returns had a correlation of 0.55 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 TER instead: the lower it is, the more that option would diversify a TER holding. Guide: Correlation and diversification →
Show all 225 stocks and funds worth at least $500 million that earned more than TER 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 TERExpense
1
LLYEli Lilly and Company · Pharmaceuticals
Whole market+41.2%32.8%1.22−34.5%+1,870%0.20—
2
PWRQuanta Services, Inc. · Engineering & Construction
Whole market+36.4%37.4%1.02−45.5%+1,878%0.47—
3
VSTVistra Corp. · Independent Power Producers
Whole market+51.7%48.8%1.10−53.3%+1,130%0.28—
4
ESLTElbit Systems Ltd. · Aerospace & Defense
Whole market+39.7%34.6%1.14−35.4%+763%-0.04—
5
COKECoca-Cola Consolidated, Inc. · Food & Beverages
Whole market+41.6%38.0%1.11−51.7%+1,564%0.36—
6
ANETArista Networks, Inc. · Communications Equipment
Same or nearby category+47.6%49.1%1.04−52.2%+3,158%0.44—
7
APHAmphenol Corporation · Electronic Components
Same or nearby category+31.3%32.4%1.01−37.5%+887%0.64—
8
ASXASE Technology Holding Co., Ltd. · Semiconductors
Same or nearby category+47.3%43.3%1.11−52.5%+883%0.73—
9
HALOHalozyme Therapeutics, Inc. · Biotechnology
Whole market+26.2%40.4%0.78−49.1%+1,255%0.23—
10
JXNJackson Financial Inc. · Life Insurance
Whole market+42.4%43.3%1.04−48.4%—0.15—
11
SMHVanEck Semiconductor ETF · Semiconductors
Same or nearby category+32.2%37.0%0.94−45.3%+1,570%0.720.35%
12
VCTRVictory Capital Holdings, Inc. · Asset Management
Whole market+27.7%35.0%0.88−45.2%—0.23—
13
NHCNational HealthCare Corporation · Health Care Facilities
Whole market+31.2%28.6%1.10−35.3%+385%0.25—
14
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.12—
15
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Popular alternative+31.0%38.6%0.90−56.6%+1,440%0.60—
16
SIISprott Inc. · Asset Management
Whole market+24.1%39.2%0.75−49.2%+807%0.32—
17
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+41.7%24.7%1.54−46.1%+345%0.15—
18
FIXComfort Systems USA, Inc. · Engineering & Construction
Whole market+73.0%46.9%1.41−49.7%+4,888%0.52—
19
GEGE Aerospace · Aerospace & Defense
Whole market+36.0%31.0%1.15−80.9%+135%0.40—
20
SANBanco Santander, S.A. · Banks
Whole market+31.7%33.9%0.99−73.8%+307%0.20—
21
BBVABanco Bilbao Vizcaya Argentaria, S.A. · Banks
Whole market+39.0%33.3%1.16−69.6%+515%0.10—
22
VLOValero Energy Corporation · Oil Refining
Whole market+43.8%36.9%1.18−71.9%+1,014%0.16—
23
IBKRInteractive Brokers Group, Inc. · Investment Banking & Brokerage
Whole market+35.3%35.5%1.03−55.1%+929%0.34—
24
ABBVAbbVie Inc. · Specialty Pharmaceuticals
Whole market+25.5%23.4%1.09−45.1%+600%0.13—
25
DXJWisdomTree Japan Hedged Equity Fund · Japan Equity
Whole market+26.6%19.1%1.34−39.1%+415%0.450.48%
26
AEMAgnico Eagle Mines Limited · Gold Mining
Whole market+28.2%38.5%0.84−54.2%+335%0.10—
27
CATCaterpillar Inc. · Industrial Machinery
Whole market+30.7%32.0%1.00−43.4%+913%0.63—
28
RCLRoyal Caribbean Cruises Ltd. · Cruise Lines
Whole market+28.5%48.4%0.76−83.3%+357%0.30—
29
PANWPalo Alto Networks, Inc. · Cybersecurity
Whole market+33.4%43.4%0.89−48.0%+1,306%0.18—
30
MCKMcKesson Corporation · Health Care Distribution
Whole market+37.8%25.1%1.41−38.1%+582%0.00—
31
TEVATeva Pharmaceutical Industries Limited · Specialty Pharmaceuticals
Whole market+31.7%42.8%0.85−85.3%−3.6%0.24—
32
AUAngloGold Ashanti Plc · Gold Mining
Whole market+38.0%50.0%0.90−66.3%+661%0.10—
33
BAPCredicorp Ltd. · Banks
Whole market+29.7%30.3%1.01−59.2%+281%0.32—
34
NWGNatWest Group plc · Banks
Whole market+27.6%34.1%0.89−67.4%+488%0.23—
35
MFGMizuho Financial Group, Inc. · Banks
Whole market+33.9%30.6%1.11−45.7%+343%0.14—
36
CIBGrupo Cibest S.A. · Banks
Whole market+33.5%32.9%1.04−70.4%+351%0.13—
37
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+34.0%29.4%1.15−47.6%+470%0.15—
38
VRTXVertex Pharmaceuticals Incorporated · Rare Disease Therapeutics
Whole market+23.9%29.1%0.89−41.6%+580%0.04—
39
THCTenet Healthcare Corporation · Health Care Facilities
Whole market+30.8%45.0%0.83−71.7%+1,036%0.22—
40
XPOXPO Logistics, Inc. · Trucking
Whole market+30.0%47.0%0.79−64.5%+1,487%0.33—
41
STXSeagate Technology Holdings plc · Computer Hardware
Same or nearby category+53.4%48.8%1.12−57.0%+2,597%0.53—
42
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.7%24.9%1.08−41.6%+670%0.29—
43
CORCencora, Inc. · Health Care Distribution
Whole market+23.6%22.8%1.05−32.4%+403%0.01—
44
EMBJEmbraer S.A. · Aerospace & Defense
Whole market+32.5%45.0%0.85−85.2%+261%0.27—
45
IDCCInterDigital, Inc. · Intellectual Property Licensing
Whole market+39.4%36.9%1.09−64.9%+392%0.41—
46
AVGOBroadcom Inc. · Semiconductors
Same or nearby category+46.9%44.6%1.09−48.3%+2,254%0.40—
47
WPMWheaton Precious Metals Corp. · Precious Metals
Whole market+25.8%37.0%0.81−46.7%+488%0.07—
48
EMEEMCOR Group, Inc. · Engineering & Construction
Whole market+40.8%35.4%1.15−48.0%+1,116%0.33—
49
HPEHewlett Packard Enterprise Company · Computer Hardware
Same or nearby category+32.8%42.3%0.89−56.9%+481%0.39—
50
ARGXargenx SE · Immunology Therapeutics
Whole market+24.5%39.9%0.75−38.2%—0.07—
51
EATBrinker International, Inc. · Casual Dining
Whole market+33.6%48.8%0.84−84.9%+315%0.02—
52
CASYCasey's General Stores, Inc. · Convenience Stores
Whole market+30.8%29.4%1.06−36.1%+560%0.12—
53
BWLPBW LPG Limited · Marine Shipping
Whole market+60.5%50.9%1.19−68.8%+2,648%0.26—
54
BVNCompañía de Minas Buenaventura S.A.A. · Precious Metals
Whole market+28.8%45.5%0.79−70.2%+136%0.20—
55
IRMIron Mountain Incorporated · Specialty REITs
Whole market+23.8%30.3%0.86−39.0%+456%0.37—
56
LGNDLigand Pharmaceuticals Incorporated · Biotechnology
Whole market+29.3%44.2%0.80−76.9%+425%0.47—
57
AMRXAmneal Pharmaceuticals, Inc. · Pharmaceuticals
Whole market+29.3%50.5%0.76−94.8%−5.6%0.33—
58
CAKEThe Cheesecake Factory Incorporated · Casual Dining
Whole market+24.4%39.9%0.75−75.6%+170%0.20—
59
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.94−40.8%+639%0.20—
60
CWCurtiss-Wright Corporation · Aerospace & Defense
Whole market+29.5%28.8%1.05−48.7%+486%0.37—
61
LPGDorian LPG Ltd. · Marine Shipping
Whole market+55.8%43.6%1.24−62.9%+1,827%0.19—
62
CHEFThe Chefs' Warehouse, Inc. · Food Distribution
Whole market+27.9%39.7%0.82−91.3%+752%0.34—
63
MLIMueller Industries, Inc. · Metal Fabrication
Whole market+36.5%33.4%1.10−53.0%+760%0.34—
64
AAMIAcadian Asset Management · Asset Management
Whole market+28.3%35.6%0.88−78.1%+628%0.26—
65
FROFrontline Plc · Oil & Gas
Whole market+53.9%49.7%1.12−52.0%+1,270%0.20—
66
DTMDT Midstream, Inc. · Oil & Gas Midstream
Whole market+25.0%25.2%1.02−23.6%—0.18—
67
CGAUCenterra Gold Inc. · Gold Mining
Whole market+24.3%47.7%0.70−72.2%+388%0.27—
68
DXPEDXP Enterprises, Inc. · Industrial Distribution
Whole market+37.0%46.4%0.91−77.3%+674%0.29—
69
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+53.5%37.4%1.34−71.7%+733%-0.01—
70
MPCMarathon Petroleum Corporation · Oil Refining
Whole market+50.0%33.4%1.39−79.7%+1,314%0.06—
71
NMMNavios Maritime Partners L.P. · Marine Shipping
Whole market+25.2%39.5%0.77−87.9%+431%0.32—
72
ALSNAllison Transmission Holdings, Inc. · Auto Parts
Whole market+27.8%29.9%0.98−48.7%+363%0.16—
73
TKTeekay Corporation · Oil & Gas
Whole market+48.3%41.7%1.15−83.8%+267%0.20—
74
MUSAMurphy USA Inc. · Convenience Stores
Whole market+25.3%31.2%0.88−35.5%+688%-0.10—
75
EZPWEZCORP, Inc. · Consumer Finance
Whole market+30.9%35.8%0.94−76.6%+171%0.31—
76
WELLWelltower Inc. · Healthcare REITs
Whole market+27.0%23.8%1.13−63.3%+378%0.25—
77
GLWCorning Inc · Electronic Components
Same or nearby category+29.7%42.2%0.83−51.5%+568%0.65—
78
PBIPitney Bowes Inc. · Business Services
Whole market+24.6%51.0%0.68−87.5%+60.5%0.25—
79
SNEXStoneX Group Inc. · Capital Markets
Whole market+32.5%37.3%0.95−48.7%+669%0.15—
80
UVEUniversal Insurance Holdings, Inc. · Property & Casualty Insurance
Whole market+34.6%42.8%0.91−79.6%+218%0.19—
81
KLACKLA Corporation · Semiconductor Equipment
Popular alternative+35.3%46.9%0.88−50.9%+2,224%0.69—
82
FSSFederal Signal Corporation · Industrial Machinery
Whole market+23.2%31.7%0.82−33.0%+899%0.45—
83
ACAArcosa, Inc. · Construction Materials
Whole market+23.4%34.0%0.79−36.8%—0.35—
84
HWMHowmet Aerospace Inc. · Aerospace Components
Whole market+45.1%32.7%1.31−68.9%+928%0.30—
85
TFPMTriple Flag Precious Metals Corp. · Metals & Mining
Whole market+27.9%37.8%0.84−36.2%—-0.05—
86
DHTDHT Holdings, Inc. · Oil & Gas
Whole market+40.3%39.0%1.07−39.7%+1,094%0.13—
87
USLMUnited States Lime & Minerals, Inc. · Construction Materials
Whole market+36.8%36.1%1.05−45.9%+831%-0.03—
88
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+24.0%18.8%1.25−75.2%+337%0.12—
89
FETForum Energy Technologies, Inc. · Oilfield Services
Whole market+28.3%51.0%0.74−99.4%−80.6%0.12—
90
HURNHuron Consulting Group Inc. · Consulting Services
Whole market+31.3%40.8%0.87−51.4%+238%-0.28—
91
HWKNHawkins, Inc. · Specialty Chemicals
Whole market+29.8%36.6%0.90−44.8%+641%0.20—
92
UFPTUFP Technologies, Inc. · Medical Devices
Whole market+36.5%46.0%0.91−48.3%+1,009%0.16—
93
ATIATI Inc. · Metals & Mining
Whole market+58.9%43.2%1.29−82.4%+809%0.31—
94
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.5%26.5%1.05−61.0%+216%-0.04—
95
IGICInternational General Insurance Holdings Ltd. · Insurance
Whole market+30.6%30.9%1.02−50.6%—-0.20—
96
ODCOil-Dri Corporation of America · Specialty Chemicals
Whole market+36.9%36.9%1.04−48.9%+474%0.33—
97
NWPXNWPX Infrastructure, Inc. · Infrastructure
Whole market+32.7%36.3%0.97−46.5%+619%0.51—
98
SENEASeneca Foods Corporation · Packaged Foods
Whole market+26.0%36.4%0.82−51.3%+468%0.11—
99
EPUiShares MSCI Peru and Global Exposure ETF · International Equity
Whole market+28.1%24.9%1.12−51.0%+258%0.370.59%
100
HSBCHSBC Holdings plc · Banks
Whole market+32.8%25.9%1.23−62.3%+314%0.23—

TER against its popular alternatives

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

How do TER'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 TER, which divides the map into what did better or worse on each measure.

Green points earned more than TER 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%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityTER: 22.1% a year, volatility 54.5%SPY (S&P 500): 12.5% a year, volatility 17.2%NVDA: 56.5% a year, volatility 51.9%TSM: 31.0% a year, volatility 38.6%LRCX: 34.2% a year, volatility 50.1%KLAC: 35.3% a year, volatility 46.9%AMAT: 23.6% a year, volatility 47.6%FORM: 20.7% a year, volatility 62.1%PLAB: 17.9% a year, volatility 58.9%ACLS: 16.3% a year, volatility 57.6%UCTT: 0.6% a year, volatility 64.0%AOSL: −6.9% a year, volatility 73.4%ICHR: −0.2% a year, volatility 71.3%ONTO: 21.7% a year, volatility 59.8%AMKR: 13.4% a year, volatility 56.5%CAMT: 25.3% a year, volatility 58.2%ASML: 15.3% a year, volatility 43.5%AEHR: 22.5% a year, volatility 102%KEYS: 12.1% a year, volatility 34.8%TXN: 10.1% a year, volatility 33.8%KLIC: 7.6% a year, volatility 46.7%ROK: 7.8% a year, volatility 32.4%COHU: 8.4% a year, volatility 51.7%VECO: 12.6% a year, volatility 49.4%TERSPY (S&P 500)NVDATSMLRCXKLACAMATFORMPLABACLSUCTTAOSLICHRAMKRCAMTASMLAEHRKEYSTXNKLICROKVECO0.0%20.0%40.0%60.0%80.0%100%120%−20.0%0.0%20.0%40.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityTER: 22.1% a year, volatility 54.5%SPY (S&P 500): 12.5% a year, volatility 17.2%NVDA: 56.5% a year, volatility 51.9%TSM: 31.0% a year, volatility 38.6%LRCX: 34.2% a year, volatility 50.1%KLAC: 35.3% a year, volatility 46.9%AMAT: 23.6% a year, volatility 47.6%FORM: 20.7% a year, volatility 62.1%PLAB: 17.9% a year, volatility 58.9%ACLS: 16.3% a year, volatility 57.6%UCTT: 0.6% a year, volatility 64.0%AOSL: −6.9% a year, volatility 73.4%ICHR: −0.2% a year, volatility 71.3%ONTO: 21.7% a year, volatility 59.8%AMKR: 13.4% a year, volatility 56.5%CAMT: 25.3% a year, volatility 58.2%ASML: 15.3% a year, volatility 43.5%AEHR: 22.5% a year, volatility 102%KEYS: 12.1% a year, volatility 34.8%TXN: 10.1% a year, volatility 33.8%KLIC: 7.6% a year, volatility 46.7%ROK: 7.8% a year, volatility 32.4%COHU: 8.4% a year, volatility 51.7%VECO: 12.6% a year, volatility 49.4%TERSPY (S&P 500)NVDATSMLRCXKLACAMATPLABACLSUCTTAOSLONTOAMKRAEHRKLICROK
All figures
InvestmentAnnual returnVolatility
NVDA NVIDIA Corporation+56.5%51.9%
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%
AMAT Applied Materials, Inc.+23.6%47.6%
AEHR Aehr Test Systems+22.5%102%
TER This pageTeradyne, Inc.+22.1%54.5%
ONTO Onto Innovation Inc.+21.7%59.8%
FORM FormFactor, Inc.+20.7%62.1%
PLAB Photronics, Inc.+17.9%58.9%
ACLS Axcelis Technologies, Inc.+16.3%57.6%
ASML ASML Holding N.V.+15.3%43.5%
AMKR Amkor Technology, Inc.+13.4%56.5%
VECO Veeco Instruments Inc.+12.6%49.4%
SPY S&P 500State Street SPDR S&P 500 ETF+12.5%17.2%
KEYS Keysight Technologies, Inc.+12.1%34.8%
TXN Texas Instruments Incorporated+10.1%33.8%
COHU Cohu, Inc.+8.4%51.7%
ROK Rockwell Automation, Inc.+7.8%32.4%
KLIC Kulicke and Soffa Industries, Inc.+7.6%46.7%
UCTT Ultra Clean Holdings, Inc.+0.6%64.0%
ICHR Ichor Holdings, Ltd.−0.2%71.3%
AOSL Alpha and Omega Semiconductor Limited−6.9%73.4%
Open these 24 in EasyCompare

Has TER consistently beaten its popular alternatives?

This section compares TER 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 TER helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than TER 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
TER Teradyne, Inc. (this page)—−22.6%−16.4%−19.8%+48.9%+123%+243%+171%+1,379%54.5%0.64−59.1%—$48B—
NVDA QualifiedNVIDIA Corporation3/5 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—
TSM QualifiedTaiwan Semiconductor Manufacturing Company Limited3/5 short3/3 long−8.8%−1.8%+7.0%+30.0%+44.2%+368%+285%+1,440%38.6%0.90−56.6%—$2.1T—
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—
KLAC SemiconductorsKLA Corporation2/5 short2/3 long−21.5%−31.1%−18.2%+16.4%+33.4%+227%+353%+2,224%46.9%0.88−50.9%—$193B—
CAMT SemiconductorsCamtek Ltd.1/5 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—
ASML SemiconductorsASML Holding N.V.3/5 short1/3 long−10.7%−13.3%+8.5%+34.7%+55.3%+172%+104%+1,527%43.5%0.55−56.9%—$601B—
AEHR SemiconductorsAehr Test Systems2/5 short1/3 long−44.7%−40.5%−42.8%+151%+135%+77.3%+176%+1,672%102%0.70−87.4%—$1.8B—
AMAT SemiconductorsApplied Materials, Inc.2/5 short1/3 long−20.5%−32.1%−6.7%+40.2%+71.2%+186%+188%+1,334%47.6%0.69−55.1%—$298B—
KEYS Hardware, Equipment & PartsKeysight Technologies, Inc.4/5 short0/3 long−10.3%−4.9%−8.1%+50.8%+89.2%+156%+76.8%+843%34.8%0.50−42.6%—$53B—
TXN SemiconductorsTexas Instruments Incorporated4/5 short0/3 long+3.0%−4.5%+19.5%+60.1%+68.0%+108%+61.8%+413%33.8%0.45−33.4%—$255B—
KLIC SemiconductorsKulicke and Soffa Industries, Inc.3/5 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—
ROK Industrial - MachineryRockwell Automation, Inc.3/5 short0/3 long−0.8%−7.2%+4.8%+7.4%+22.6%+66.9%+45.7%+325%32.4%0.40−45.1%—$47B—
FORM SemiconductorsFormFactor, Inc.2/5 short0/3 long−24.6%−16.2%−35.0%+60.6%+130%+194%+156%+814%62.1%0.61−64.4%—$7.4B—
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—
PLAB SemiconductorsPhotronics, Inc.2/5 short0/3 long−8.3%−10.7%−44.3%−16.5%+20.1%+48.7%+128%+178%58.9%0.57−50.6%—$1.6B—
VECO SemiconductorsVeeco Instruments Inc.2/5 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—
ACLS SemiconductorsAxcelis Technologies, Inc.1/5 short0/3 long−9.5%−26.2%−25.1%+21.6%+28.7%−27.6%+112%+656%57.6%0.55−78.8%—$3.2B—
UCTT SemiconductorsUltra Clean Holdings, Inc.1/5 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—
AOSL SemiconductorsAlpha and Omega Semiconductor Limited1/5 short0/3 long−21.1%−35.8%−45.2%+7.9%−22.0%−12.3%−29.9%+2.0%73.4%0.27−75.3%—$676M—
ICHR SemiconductorsIchor Holdings, Ltd.1/5 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—
ONTO SemiconductorsOnto Innovation Inc.0/5 short0/3 long−30.0%−32.7%−33.2%+19.8%+58.3%+70.5%+167%+852%59.8%0.63−62.8%—$9.7B—
AMKR SemiconductorsAmkor Technology, Inc.0/5 short0/3 long−28.5%−41.6%−45.8%−8.6%+27.8%+88.5%+87.6%+331%56.5%0.51−65.9%—$9.7B—
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How did TER do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where TER ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with TER 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 TER; gray means the two finished within a fraction of a point. The rank row places TER among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of TER20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
TER This pageTeradyne, Inc.—+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%
Rank among alternativesTop quarter in 7 of 297 of 235 of 2317 of 2319 of 2319 of 234 of 233 of 2312 of 237 of 2319 of 223 of 2212 of 2119 of 215 of 218 of 217 of 208 of 2010 of 2019 of 2014 of 2016 of 2017 of 1910 of 1812 of 1815 of 1811 of 164 of 154 of 148 of 12
SPY S&P 500State Street SPDR S&P 500 ETF15 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%
NVDA NVIDIA Corporation16 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%———
TSM Taiwan Semiconductor Manufacturing Company Limited17 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%—
LRCX Lam Research Corporation18 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%
KLAC KLA Corporation15 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%
CAMT Camtek Ltd.12 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%————
ASML ASML Holding N.V.18 of 29+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%
AEHR Aehr Test Systems12 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%—
AMAT Applied Materials, Inc.17 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%
KEYS Keysight Technologies, Inc.4 of 11+26.5%+1.0%−7.0%−17.2%+56.3%+28.7%+65.3%+49.2%+13.8%+29.1%−16.1%——————————————————
TXN Texas Instruments Incorporated13 of 29−4.5%+13.1%+6.4%−9.9%+17.5%+31.7%+39.6%−7.2%+46.8%+36.7%+5.1%+25.1%+46.3%+7.9%−8.8%+27.0%+72.0%−52.8%+17.0%−9.8%+30.7%−15.9%+96.6%−46.2%−40.8%−1.8%+126%+90.7%+42.3%
KLIC Kulicke and Soffa Industries, Inc.13 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%
ROK Rockwell Automation, Inc.16 of 29+38.4%−6.2%+22.6%−24.8%+41.2%+26.2%+37.9%−21.8%+48.9%+34.5%−5.5%−3.9%+43.8%+17.2%+4.5%+56.1%+50.9%−51.9%+14.9%+4.7%+21.3%+41.8%+76.5%+20.0%−11.3%+5.5%+168%−1.9%+37.1%
FORM FormFactor, Inc.9 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%———————
COHU Cohu, Inc.9 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%
PLAB Photronics, Inc.15 of 29+35.8%−24.9%+86.4%−10.7%+68.9%−29.2%+62.8%+13.5%−24.5%−9.2%+49.8%−8.0%+51.5%−2.0%+2.9%+32.8%+128%−84.4%−23.7%+8.5%−8.7%−17.2%+45.4%−56.3%+33.8%−18.1%+19.4%−1.1%+77.9%
VECO Veeco Instruments Inc.14 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%
ACLS Axcelis Technologies, Inc.12 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%————
UCTT Ultra Clean Holdings, Inc.11 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%————————
AOSL Alpha and Omega Semiconductor Limited4 of 15−46.5%+42.1%−8.8%−52.8%+156%+73.6%+33.7%−37.7%−23.1%+131%+3.8%+14.8%−8.2%+14.9%−43.0%——————————————
ICHR Ichor Holdings, Ltd.3 of 9−42.8%−4.2%+25.4%−41.7%+52.7%−9.4%+104%−33.7%+127%————————————————————
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%
AMKR Amkor Technology, Inc.11 of 27+55.9%−20.8%+40.4%−2.3%+65.5%+16.4%+98.2%−34.7%−4.8%+73.4%−14.3%+15.8%+44.5%−2.7%−41.2%+3.5%+229%−74.5%−8.7%+66.9%−16.2%−63.2%+281%−70.3%+3.3%−45.1%+161%——
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Risk and diversification

How TER 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 TER's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents TER's five deepest drawdowns since it began trading in 1986, 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 TER fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringTER fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−97.3%−40.1%Apr 2000Nov 20088.6 yearsNov 202012 years
No named crash−89.2%—Oct 1987Oct 19903 yearsJan 19954.3 years
No named crash−73.4%+1.1%Oct 1997Oct 199812 monthsJan 19993 months
No named crash−72.3%+14.1%Aug 1995Jul 199611 monthsMay 199710 months
2022 bear market−59.1%+9.0%Dec 2021Apr 20253.3 yearsOct 20256 months

How did TER do in stock market crashes?

This section measures how far TER, 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 TER.

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
TER This pageTeradyne, Inc.—−1.9%−56.6%−34.8%−24.6%−10.7%−18.3%−28.2%−2.5%−79.2%−93.4%
SPY S&P 500State Street SPDR S&P 500 ETF9 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
NVDA NVIDIA Corporation4 of 10−5.0%−60.7%−37.5%−55.9%−8.5%−25.3%−23.8%−1.7%−85.1%−89.7%
TSM Taiwan Semiconductor Manufacturing Company Limited9 of 10−3.9%−54.3%−23.3%−21.4%−9.3%−13.2%−15.7%0.0%−48.0%−82.4%
LRCX Lam Research Corporation6 of 10−3.3%−55.1%−43.7%−22.9%−9.5%−20.5%−20.1%−2.2%−73.3%−87.9%
KLAC KLA Corporation8 of 10−5.9%−37.6%−33.8%−21.6%−7.5%−13.5%−23.0%−2.8%−71.8%−73.2%
CAMT Camtek Ltd.2 of 9−5.6%−52.0%−46.5%−27.1%−10.9%−42.1%−47.6%0.0%−90.8%—
ASML ASML Holding N.V.5 of 10−2.9%−48.4%−37.9%−24.4%−7.5%−22.1%−17.7%−2.7%−64.1%−90.0%
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%
AMAT Applied Materials, Inc.6 of 10−3.6%−54.2%−43.6%−26.4%−9.7%−18.8%−24.5%−1.6%−61.7%−82.0%
KEYS Keysight Technologies, Inc.4 of 6−2.6%−33.8%−17.7%−18.0%−6.7%−37.2%————
TXN Texas Instruments Incorporated8 of 10−2.6%−21.7%−29.8%−19.5%−9.3%−18.4%−21.6%−1.3%−61.4%−85.4%
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%
ROK Rockwell Automation, Inc.5 of 10−5.4%−43.8%−42.4%−27.5%−7.9%−23.6%−37.5%−1.4%−74.7%−42.0%
FORM FormFactor, Inc.3 of 9−3.1%−45.2%−35.8%−22.6%−11.6%−31.9%−38.0%−3.5%−72.9%—
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%
PLAB Photronics, Inc.4 of 10−6.3%−44.8%−42.1%−11.1%−5.7%−23.6%−46.3%−4.2%−97.3%−81.6%
VECO Veeco Instruments Inc.2 of 10−3.4%−46.5%−53.2%−39.2%−14.2%−30.2%−42.7%−4.0%−81.0%−91.9%
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%—
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%—
AOSL Alpha and Omega Semiconductor Limited3 of 8−6.7%−55.5%−47.7%−24.6%−9.7%−16.7%−38.1%−4.9%——
ICHR Ichor Holdings, Ltd.1 of 5−5.9%−54.6%−58.5%−31.9%−25.1%—————
ONTO Onto Innovation Inc.3 of 10−4.6%−44.0%−45.9%−31.8%−5.5%−18.6%−28.4%0.0%−92.6%−96.8%
AMKR Amkor Technology, Inc.3 of 10−5.9%−39.9%−55.5%−26.5%−9.3%−25.1%−33.8%−0.8%−87.5%−98.2%
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How closely does TER 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 TER 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 TER's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
TER This pageTeradyne, Inc.167%121%1.371.53
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
NVDA NVIDIA Corporation248%140%1.771.83
LRCX Lam Research Corporation183%104%1.751.56
KEYS Keysight Technologies, Inc.121%71%1.701.08
FORM FormFactor, Inc.132%81%1.641.29
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
ASML ASML Holding N.V.170%132%1.291.44
KLIC Kulicke and Soffa Industries, Inc.131%111%1.181.44
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
TXN Texas Instruments Incorporated113%108%1.041.18
VECO Veeco Instruments Inc.76%84%0.901.38
ROK Rockwell Automation, Inc.122%138%0.881.46
AMKR Amkor Technology, Inc.152%174%0.881.94
PLAB Photronics, Inc.109%139%0.791.14
AOSL Alpha and Omega Semiconductor Limited116%206%0.562.60
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What diversifies TER?

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 TER's. Because such investments tend not to fall at the same time, pairing TER 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 TER lost money. The last two columns show a portfolio that is 80% TER and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe202220182011200820072005200420022001200080/20 mix volatility80/20 mix annual return
TER Teradyne, Inc. (this page)1.00+171%0.64−46.4%−24.4%−2.9%−59.1%−30.9%−14.7%−32.9%−56.8%−19.1%−43.6%49.6%+30.2%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.34+119%1.48+3.8%−5.2%————————40.3%+29.7%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.45+225%1.34+6.0%−19.8%−16.1%−20.8%−7.4%—————40.9%+31.7%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.29+103%1.06+10.4%−8.7%————————40.6%+29.4%
FJAN Multi-AssetFT Vest U.S. Equity Buffer ETF - January0.49+68.3%1.04−4.0%—————————40.6%+28.3%
HDV Dividend & IncomeiShares Core High Dividend ETF0.24+86.8%1.03+7.0%−3.0%————————40.4%+28.7%
FTLS Broad MarketFirst Trust Long/Short Equity ETF0.48+61.5%0.97−5.6%−4.8%————————40.5%+28.2%
XLE EnergyState Street Energy Select Sector SPDR ETF0.04+178%0.94+64.4%−18.2%+2.8%−39.0%+36.8%+40.1%+33.8%−14.8%−18.2%+24.4%40.2%+31.9%
GLD CommoditiesSPDR Gold Shares0.03+120%0.93−0.8%−1.9%+9.6%+4.9%+30.4%+17.8%————39.9%+30.5%

Stocks

InvestmentCorrelation5Y returnSharpe202220182011200820072005200420022001200080/20 mix volatility80/20 mix annual return
TER Teradyne, Inc. (this page)1.00+171%0.64−46.4%−24.4%−2.9%−59.1%−30.9%−14.7%−32.9%−56.8%−19.1%−43.6%49.6%+30.2%
CAH Medical - DistributionCardinal Health, Inc.0.15+471%1.54+54.1%−24.5%+8.1%−39.6%−9.8%+18.7%−4.7%−8.3%−2.5%+108%40.8%+34.6%
CLS Hardware, Equipment & PartsCelestica Inc.0.36+2,780%1.43+1.3%−16.3%−24.4%−20.5%−25.7%−25.2%−6.4%−65.1%−25.6%−2.3%45.2%+47.3%
MCK Medical - DistributionMcKesson Corporation0.00+397%1.41+51.8%−28.4%+11.8%−40.4%+29.7%+64.9%−1.4%−27.2%+4.9%+61.2%40.0%+34.3%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.06+660%1.39+86.6%−8.2%————————40.6%+37.1%
PBR Oil & Gas IntegratedPetróleo Brasileiro S.A. - Petrobras-0.04+721%1.32+55.4%+27.7%−32.1%−55.6%+132%+85.0%+43.9%−32.0%−1.9%—40.0%+37.3%
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Common questions

What was TER's worst drawdown?

TER's deepest decline since it began trading in 1986 was 97.3%, from April 2000 to November 2008. It took about 12 years from the low to climb back to its old high.

What were TER's best and worst years?

Over 29 full calendar years, TER's best year was 1999, when it returned 211%. Its worst was 2008, with a return of -59.1%.

Is there a better investment than TER?

Among TER's popular alternatives, TSM, KLAC and LRCX earned more than TER with less volatility over the past 5 years. TSM returned 31.0% a year at 38.6% volatility, against 22.1% a year at 54.5%. Looking beyond its popular alternatives, ANET (communications equipment) and APH (electronic components) earned more than TER with less volatility over the past 5 years. ANET returned 47.6% a year at 49.1% volatility, against 22.1% a year at 54.5%.

Is TER more volatile than the S&P 500?

Yes. TER's volatility over the past 5 years was 54.5%, 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, TER's return lands within 54.5% 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 TER's Sharpe ratio?

TER's Sharpe ratio over the past 5 years was 0.64, against 0.78 for the S&P 500, so TER 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 TER with the S&P 500?

Over the past 5 years, TER's monthly returns had a correlation of 0.55 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 TER instead: the lower it is, the more that option would diversify a TER holding.

What are the best alternatives to TER?

Of the 22 popular alternatives we compared, two outperformed TER in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: NVDA and TSM.

Did TER outperform the S&P 500?

TER finished ahead of the S&P 500 (SPY) in 13 of 29 full calendar years. In 2025, it returned +54.4%, against +17.7% for the index.

How did TER do in stock market crashes?

TER fell less than the S&P 500 (SPY) in one of the ten major crashes it has traded through, and further in nine. The clearest case was the dot-com bust, when TER fell 93.4% and the S&P 500 fell 47.5%.

What diversifies TER?

These had a low correlation with TER over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.34), DXJ (correlation 0.45) and EMLP (correlation 0.29); among large stocks, CAH (correlation 0.15), CLS (correlation 0.36) and MCK (correlation 0.00). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to TER

Other stocks and ETFs