# How Thomson Reuters (TRI) compares with the whole market and its popular alternatives

> Source: BetterThanSPY research, https://betterthanspy.com/research/tri
> 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 TRI alone. It places TRI (Thomson Reuters Corporation) against 19 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 TRI stands in the market, and of the alternatives worth a closer look.

Period covered: TRI's full trading record, from June 2002 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:** TRI has run far ahead of the market, rising 42.1% over the past 3 months against 2.5% for the S&P 500. That said, it is 40.8% below its high, bear-market territory, while the S&P 500 sits 1.9% below a record.
- **Stock or market?:** TRI held up far better than its industry: it rose 42.1% over the past 3 months while the business services ETF XLI (State Street Industrial Select Sector SPDR ETF) fell 6.5%. The S&P 500 rose 2.5%. Last month cut against the tape: TRI rose 28.9% while the S&P 500 fell 1.2%.
- **Past 1 to 3 years:** Over the past year, TRI fell 22.5% while the S&P 500 rose 15.6%. The same gap shows up over 3 years (5.4% against 88.4%). The long record (ahead of 70% of the stocks worth at least $300 million over 10 years) has not carried into the past 3 years (behind 75% of them).
- **Long term:** TRI turned $10,000 into $37,500 over the past decade, against $41,600 in the S&P 500.
- **In a crash:** In the 2022 bear market, TRI held up better than SPGI (S&P Global), MCO and RELX; only FCN (FTI Consulting) fell less.
- **Diversification:** Against the S&P 500, TRI has a correlation of 0.47 over 5 years, more closely than 66% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. TRI fell in 18 of the 22 months the S&P 500 fell over the past 5 years: it usually fell with it.
- **Better options**
  - **Nearby categories and themes:** ADP (Automatic Data Processing, business services) and CTAS (Cintas, business services) earned more than TRI with less volatility over the past 5 years. ADP returned 9.6% a year at 23.0% volatility, against 2.3% a year at 29.4%.
  - **Whole market:** 1,037 of the 3,641 stocks and funds worth at least $500 million earned more than TRI with less volatility over the past 5 years, among them VTI (Vanguard Morningstar Total Stock Market ETF), VOO (Vanguard S&P 500 ETF) and BRK-A (Berkshire Hathaway).

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

This chart tracks a hypothetical $10,000 investment in TRI over the past 24 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of TRI over the same span and TRI's popular alternatives, among those that traded for the entire period.

- $10,000 invested in TRI at the end of September 2002 would have grown to $70,274 by September 2026, less than the $144,215 it would have become in SPY, an S&P 500 fund.
- Seven of the eight other investments on the chart ended ahead of TRI, and FICO finished highest, at $280,661.

## TRI 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.

- TRI is still 40.8% below its all-time high.
- TRI's deepest decline since it began trading in 2002 was 63.5%, from July 2025 to June 2026. It has not yet climbed back to that peak.
- Over 23 full calendar years, TRI's best was 2019, when it returned 51.4%, and its worst was 2008, when it lost 26.3%. It lost money in seven of those years.

- Type: Stock, Industrials (Specialty Business Services)
- Trading since: June 12, 2002
- Market value: $53B
- Volatility (5 years): 29.4%; Sharpe ratio: 0.23
- Worst decline ever: −63.5%, from July 14, 2025 to June 22, 2026; not yet back at its high

| Period | TRI total return |
| --- | --- |
| 1 month | +28.9% |
| 3 months | +42.1% |
| 6 months | +36.7% |
| year to date | −0.4% |
| 1 year | −22.5% |
| 3 years | +5.4% |
| 5 years | +12.3% |
| 10 years | +275% |

## TRI against the whole market

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

### How does TRI rank among all stocks?

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

- TRI is among the steadier stocks: its price swings rank in the top 23% of the 2,897 stocks worth at least $300 million, where the top is the calmest.
- TRI's 1-year return ranks in the bottom 17% of the 3,282 stocks worth at least $300 million with 1 year of history.

| Measure | TRI | Rank |
| --- | --- | --- |
| 1-year return | −22.5% | 2,732 of 3,282 (top 84%) |
| 3-year return | +5.4% | 2,270 of 3,016 (top 76%) |
| 5-year return | +12.3% | 1,574 of 2,897 (top 55%) |
| 10-year return | +275% | 653 of 2,201 (top 30%) |
| Volatility, 5 years | 29.4% | 676 of 2,897 (top 24%) |
| Sharpe ratio, 5 years | 0.23 | 1,785 of 2,897 (top 62%) |
| Worst decline, past 10 years | −63.5% | 1,024 of 2,184 (top 47%) |

### What has beaten TRI 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).

- 329 stocks and 708 ETFs worth at least $500 million sit in the green region: each earned more than TRI over the past 5 years with smaller price swings. That is 28% of the 3,641 screened.
- Among those with at least half TRI's swings, CAH has the best return for its risk: 41.7% a year at 24.7% volatility, 16% less than TRI's 29.4%, and a Sharpe ratio (return above cash per unit of volatility) of 1.54 against 0.23 for TRI.
- Among TRI's popular alternatives, RELX, MCO and SSNC are in the region. RELX earned 7.4% a year against 2.3% a year for TRI, at 24.2% volatility, 18% less than TRI's 29.4%.

### Is there a better investment than TRI?

The table below lists investments that beat TRI 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 TRI's popular alternatives, RELX, MCO and SSNC earned more than TRI with less volatility over the past 5 years. RELX returned 7.4% a year at 24.2% volatility, against 2.3% a year at 29.4%.
- Looking beyond its popular alternatives, ADP (business services) and CTAS (business services) earned more than TRI with less volatility over the past 5 years. ADP returned 9.6% a year at 23.0% volatility, against 2.3% a year at 29.4%.
- Across the whole market, 1,037 of the 3,641 stocks and funds worth at least $500 million earned more than TRI with less volatility over the past 5 years, among them VTI, VOO and BRK-A.

The 15 strongest of 1,037 investments that beat TRI 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 TRI | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| TRI: Thomson Reuters Corporation (this page) |  | +2.3% | 29.4% | 0.23 | −63.5% | +275% |  |  |
| [ABBV](https://betterthanspy.com/research/abbv): AbbVie Inc. | Specialty Pharmaceuticals | +25.5% | 23.4% | 1.09 | −45.1% | +600% | 0.01 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [HMC](https://betterthanspy.com/research/hmc): Honda Motor Co., Ltd. | Automobiles | +6.7% | 27.5% | 0.37 | −42.0% | +64.7% | 0.26 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| CIBR: First Trust Nasdaq Cybersecurity ETF | Cybersecurity | +14.5% | 26.2% | 0.65 | −33.9% | +461% | 0.32 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [SGOV](https://betterthanspy.com/research/sgov): iShares 0-3 Month Treasury Bond ETF | Treasury Bills | +3.8% | 0.3% | 13.25 | −0.3% | — | 0.15 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [ADP](https://betterthanspy.com/research/adp): Automatic Data Processing, Inc. | Business Services | +9.6% | 23.0% | 0.52 | −40.8% | +337% | 0.62 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| SJM: The J. M. Smucker Company | Packaged Foods | +5.2% | 25.1% | 0.33 | −38.1% | +41.0% | 0.07 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [RY](https://betterthanspy.com/research/ry): Royal Bank of Canada | Banks | +17.5% | 18.2% | 0.98 | −40.0% | +361% | 0.27 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| JAAA: Janus Henderson AAA CLO ETF | AAA CLO Debt | +5.1% | 1.7% | 2.98 | −2.6% | — | 0.18 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [CAH](https://betterthanspy.com/research/cah): Cardinal Health, Inc. | Health Care Distribution | +41.7% | 24.7% | 1.54 | −46.1% | +345% | 0.08 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| IHAK: iShares Cybersecurity and Tech ETF | Cybersecurity | +9.0% | 25.0% | 0.47 | −34.4% | — | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VTI](https://betterthanspy.com/research/vti): Vanguard Morningstar Total Stock Market ETF | US Total Market | +11.4% | 17.5% | 0.71 | −35.0% | +298% | 0.45 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [VOO](https://betterthanspy.com/research/voo): Vanguard S&P 500 ETF | US Large-Cap Equity | +12.6% | 16.9% | 0.79 | −34.0% | +319% | 0.47 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [WMT](https://betterthanspy.com/research/wmt): Walmart Inc. | Discount Retail | +21.1% | 22.6% | 0.97 | −25.7% | +521% | 0.19 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [BRK-A](https://betterthanspy.com/research/brk-a): Berkshire Hathaway Inc. | Insurance | +13.5% | 17.2% | 0.83 | −30.4% | +281% | 0.26 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [JPM](https://betterthanspy.com/research/jpm): JPMorgan Chase & Co. | Banks | +17.3% | 24.3% | 0.78 | −43.6% | +534% | 0.40 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |

## TRI against its popular alternatives

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

### How do TRI'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.

- RELX, MCO and SSNC were both more rewarding and calmer than TRI over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, TRI returned 2.4% a year, less than the S&P 500's 12.5%, with higher volatility (29.4% against 17.2%).

### Has TRI consistently beaten its popular alternatives?

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

- Two of the 19 popular alternatives, EXLS and SAP, outperformed TRI in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- SAP, EXLS and RELX earned more for the risk they took than TRI (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
- MCO outperformed TRI over all three long-term periods but in only one of the five short-term ones, so TRI has had the better of it lately.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of TRI | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| TRI: Thomson Reuters Corporation (this page) | −22.5% | +5.4% | +12.3% | +275% |  |  | 0.23 |
| EXLS: ExlService Holdings, Inc. | +3.9% | +68.4% | +72.6% | +346% | 3/5 short-term, 3/3 long-term | consistent | 0.50 |
| [SAP](https://betterthanspy.com/research/sap): SAP SE | −11.8% | +88.3% | +83.7% | +217% | 4/5 short-term, 2/3 long-term | consistent | 0.56 |
| [MCO](https://betterthanspy.com/research/mco): Moody's Corporation | +4.8% | +62.8% | +34.3% | +424% | 1/5 short-term, 3/3 long-term |  | 0.35 |
| [MSCI](https://betterthanspy.com/research/msci): MSCI Inc. | +17.0% | +32.1% | +1.2% | +732% | 2/5 short-term, 2/3 long-term |  | 0.17 |
| SSNC: SS&C Technologies Holdings, Inc. | +10.7% | +87.6% | +28.7% | +205% | 2/5 short-term, 2/3 long-term |  | 0.33 |
| [RELX](https://betterthanspy.com/research/relx): RELX Plc | −12.5% | +21.8% | +42.6% | +179% | 2/5 short-term, 2/3 long-term |  | 0.42 |
| [SPGI](https://betterthanspy.com/research/spgi): S&P Global Inc. | −4.7% | +32.6% | +4.9% | +298% | 1/5 short-term, 2/3 long-term |  | 0.17 |
| FICO: Fair Isaac Corporation | −47.7% | −11.2% | +101% | +566% | 0/5 short-term, 2/3 long-term |  | 0.54 |
| [ORCL](https://betterthanspy.com/research/orcl): Oracle Corporation | −53.4% | +25.4% | +36.7% | +281% | 0/5 short-term, 2/3 long-term |  | 0.36 |
| BR: Broadridge Financial Solutions, Inc. | −18.3% | +13.8% | +10.7% | +243% | 1/5 short-term, 1/3 long-term |  | 0.21 |
| G: Genpact Limited | +7.1% | +27.8% | −11.6% | +98.5% | 1/5 short-term, 1/3 long-term |  | 0.07 |
| [ACN](https://betterthanspy.com/research/acn): Accenture plc | +7.5% | −5.8% | −19.2% | +167% | 5/5 short-term, 0/3 long-term |  | 0.04 |
| FDS: FactSet Research Systems Inc. | +17.8% | −19.4% | −17.8% | +142% | 3/5 short-term, 0/3 long-term |  | 0.02 |
| MORN: Morningstar, Inc. | +2.6% | +1.8% | −22.3% | +235% | 2/5 short-term, 0/3 long-term |  | 0.01 |
| FCN: FTI Consulting, Inc. | +1.2% | −14.4% | +10.6% | +254% | 1/5 short-term, 0/3 long-term |  | 0.22 |
| VRSK: Verisk Analytics, Inc. | −13.5% | −10.0% | −1.6% | +161% | 1/5 short-term, 0/3 long-term |  | 0.12 |
| [INTU](https://betterthanspy.com/research/intu): Intuit Inc. | −46.3% | −27.7% | −37.5% | +251% | 0/5 short-term, 0/3 long-term |  | -0.04 |
| [ADBE](https://betterthanspy.com/research/adbe): Adobe Inc. | −23.6% | −49.9% | −58.0% | +144% | 0/5 short-term, 0/3 long-term |  | -0.26 |
| CSGP: CoStar Group, Inc. | −54.1% | −51.6% | −64.3% | +67.0% | 0/5 short-term, 0/3 long-term |  | -0.38 |

### How did TRI do year by year?

This table shows each investment's total return in every full calendar year since 2003, along with where TRI ranked among its popular alternatives each year.

- Ranked against its popular alternatives each year, TRI finished in the top quarter in four of 23 years and in the bottom quarter in seven. In 2025, it ranked 15 of 20.
- TRI finished ahead of the S&P 500 in 11 of its 23 full calendar years, and behind it in each of the last two.
- Among its popular alternatives, FICO came out ahead of TRI most often, in 17 of the 23 years both traded.

| Year | TRI | SPY |
| --- | --- | --- |
| 2025 | −16.6% | +17.7% |
| 2024 | +11.1% | +24.9% |
| 2023 | +29.8% | +26.2% |
| 2022 | −3.1% | −18.2% |
| 2021 | +48.3% | +28.7% |
| 2020 | +16.6% | +18.3% |
| 2019 | +51.4% | +31.2% |
| 2018 | +13.3% | −4.6% |
| 2017 | +2.2% | +21.7% |
| 2016 | +19.1% | +12.0% |

## Risk and diversification

How TRI 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 TRI's worst declines?

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

- In all five of TRI's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: TRI fell 63.5% from July 2025 to June 2026, while the S&P 500 rose 20.5%.
- The slowest recovery came after TRI fell 56.6% from October 2007 to October 2008; it did not regain that peak until August 2014, six years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −63.5% | July 14, 2025 | June 22, 2026 | not yet | +20.5% |  |
| −56.6% | October 31, 2007 | October 24, 2008 | August 27, 2014 | −42.5% | 2008 financial crisis |
| −35.4% | February 19, 2020 | March 23, 2020 | October 5, 2020 | −33.7% | Covid crash |
| −26.8% | June 28, 2002 | September 23, 2002 | May 20, 2003 | −15.1% | dot-com bust |
| −24.6% | November 19, 2021 | May 11, 2022 | February 13, 2023 | −15.7% | 2022 bear market |

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

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

- Among its popular alternatives, FCN held up best, falling less than TRI in six of the nine crashes they both traded through.
- TRI began trading after the dot-com bust, but 11 of its popular alternatives lived through it. The mildest fall among them was MCO's 18.5%, against 47.5% for the S&P 500.
- TRI fell further than the S&P 500 in five of the nine crashes it has traded through. The clearest case was the 2011 euro debt crisis, when TRI fell 25.1% and the S&P 500 fell 17.9%.

| Crash | Dates | TRI 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 | −56.6% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.0% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −25.1% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −17.4% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −7.0% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −9.3% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −35.4% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −19.9% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −2.4% | −3.4% |

### How closely does TRI 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, TRI captured 69% of the S&P 500's gains in rising months and 67% of its losses in falling months, with a beta of 0.63. That is a defensive profile: it gave up some of the market's upside in exchange for smaller losses.
- Only FCN and MSCI had a higher capture ratio (upside capture divided by downside capture) than TRI's 1.04, out of 19 popular alternatives with the same record.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| TRI: Thomson Reuters Corporation (this page) | 69.0% | 67.0% | 0.63 |
| EXLS: ExlService Holdings, Inc. | 99.0% | 109% | 0.90 |
| [SAP](https://betterthanspy.com/research/sap): SAP SE | 112% | 152% | 1.10 |
| [MCO](https://betterthanspy.com/research/mco): Moody's Corporation | 131% | 151% | 1.26 |
| [MSCI](https://betterthanspy.com/research/msci): MSCI Inc. | 131% | 121% | 1.12 |
| SSNC: SS&C Technologies Holdings, Inc. | 113% | 153% | 1.32 |
| [RELX](https://betterthanspy.com/research/relx): RELX Plc | 61.0% | 69.0% | 0.73 |
| [SPGI](https://betterthanspy.com/research/spgi): S&P Global Inc. | 107% | 125% | 1.04 |
| FICO: Fair Isaac Corporation | 137% | 159% | 1.31 |
| [ORCL](https://betterthanspy.com/research/orcl): Oracle Corporation | 131% | 159% | 1.30 |
| BR: Broadridge Financial Solutions, Inc. | 90.0% | 105% | 0.90 |
| G: Genpact Limited | 90.0% | 146% | 0.99 |
| [ACN](https://betterthanspy.com/research/acn): Accenture plc | 117% | 186% | 1.12 |
| FDS: FactSet Research Systems Inc. | 71.0% | 97.0% | 0.76 |
| MORN: Morningstar, Inc. | 93.0% | 117% | 1.07 |
| FCN: FTI Consulting, Inc. | 52.0% | 29.0% | 0.19 |
| VRSK: Verisk Analytics, Inc. | 63.0% | 73.0% | 0.73 |
| [INTU](https://betterthanspy.com/research/intu): Intuit Inc. | 99.0% | 126% | 1.03 |
| [ADBE](https://betterthanspy.com/research/adbe): Adobe Inc. | 123% | 184% | 1.24 |
| CSGP: CoStar Group, Inc. | 79.0% | 139% | 0.85 |

### What diversifies TRI?

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 TRI into DXJ would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (-0.9% for TRI alone, +4.8% for the mix).
- XLE made money in five of the seven calendar years in which TRI lost money.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of TRI over the past 5 years, with correlations of 0.20 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with TRI | 5Y return | Volatility | Sharpe | Rose in TRI's 7 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.20 | +119% | 11.1% | 1.48 | 2 of 7 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.04 | +225% | 19.1% | 1.34 | 3 of 7 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.20 | +103% | 14.5% | 1.06 | 2 of 7 |
| HDV: iShares Core High Dividend ETF | 0.19 | +86.8% | 13.0% | 1.03 | 2 of 7 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.36 | +83.6% | 13.8% | 0.95 | 2 of 7 |
| [SMH](https://betterthanspy.com/research/smh): VanEck Semiconductor ETF | 0.20 | +304% | 37.0% | 0.94 | 3 of 7 |
| [XLE](https://betterthanspy.com/research/xle): State Street Energy Select Sector SPDR ETF | -0.01 | +178% | 25.5% | 0.94 | 5 of 7 |
| [GLD](https://betterthanspy.com/research/gld): SPDR Gold Shares | -0.01 | +120% | 19.0% | 0.93 | 4 of 7 |

## Common questions

### What was TRI's worst drawdown?

TRI's deepest decline since it began trading in 2002 was 63.5%, from July 2025 to June 2026. It has not yet climbed back to that peak.

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

Over 23 full calendar years, TRI's best year was 2019, when it returned 51.4%. Its worst was 2008, with a return of -26.3%.

### Is there a better investment than TRI?

Among TRI's popular alternatives, RELX, MCO and SSNC earned more than TRI with less volatility over the past 5 years. RELX returned 7.4% a year at 24.2% volatility, against 2.3% a year at 29.4%. Looking beyond its popular alternatives, ADP (business services) and CTAS (business services) earned more than TRI with less volatility over the past 5 years. ADP returned 9.6% a year at 23.0% volatility, against 2.3% a year at 29.4%.

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

Yes. TRI's volatility over the past 5 years was 29.4%, 1.7 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, TRI's return lands within 29.4% 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 TRI's Sharpe ratio?

TRI's Sharpe ratio over the past 5 years was 0.23, against 0.78 for the S&P 500, so TRI 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 TRI with the S&P 500?

Over the past 5 years, TRI's monthly returns had a correlation of 0.47 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 TRI instead: the lower it is, the more that option would diversify a TRI holding.

### What are the best alternatives to TRI?

Of the 19 popular alternatives we compared, two outperformed TRI in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: EXLS and SAP.

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

TRI finished ahead of the S&P 500 (SPY) in 11 of 23 full calendar years. In 2025, it returned -16.6%, against +17.7% for the index.

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

TRI fell less than the S&P 500 (SPY) in three of the nine major crashes it has traded through, and further in five. The clearest case was the 2011 euro debt crisis, when TRI fell 25.1% and the S&P 500 fell 17.9%.

### What diversifies TRI?

These had a low correlation with TRI over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.20), DXJ (correlation 0.04) and EMLP (correlation 0.20); among large stocks, CAH (correlation 0.08), CLS (correlation 0.16) and MCK (correlation 0.07). A correlation near zero means the two have moved largely independently.

## More research

- [SAP Performance, Alternatives and Market Rank](https://betterthanspy.com/research/sap)
- [Moody's (MCO) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/mco)
- [MSCI Performance, Alternatives and Market Rank](https://betterthanspy.com/research/msci)
- [RELX Performance, Alternatives and Market Rank](https://betterthanspy.com/research/relx)
- [S&P Global (SPGI) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/spgi)
- [Oracle (ORCL) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/orcl)
- [Accenture (ACN) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/acn)
- [Intuit (INTU) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/intu)
- [Adobe (ADBE) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/adbe)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/schd)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/nvda)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://betterthanspy.com/research/aapl)

## Explore further

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