BetterThanSPY

Relative Intelligence · Semiconductors

How Texas Instruments (TXN) compares with the whole market and its popular alternatives

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

Period covered: TXN'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 TXN →Chart TXN vs. 20 alternatives →

This page answers the following questions about TXN

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 TXN have grown?

This chart tracks a hypothetical $10,000 investment in TXN over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of TXN over the same span and TXN'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. 223 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of TXN; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M199720022007201220172022$10,000$100,000$1M19972004201120182025
  • APH$3M+29,926% total · +21.7% 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
  • ADI$385,909+3,759% total · +13.4% a year
  • TXN$277,580+2,676% total · +12.1% a year
  • FLEX$184,862+1,749% total · +10.6% a year
  • SWKS$176,981+1,670% total · +10.4% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • STM$56,167+462% total · +6.1% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,236 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of TXN; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$20,000$40,000$60,000$80,000$100,000$120,000202120222023202420252026$0$50,000$100,000$150,000202120222023202420252026
  • AVGO$79,117+691% total · +51.2% a year
  • KLAC$61,203+512% total · +43.7% a year
  • APH$48,728+387% total · +37.3% a year
  • AMAT$41,406+314% total · +32.9% a year
  • NTAP$26,224+162% total · +21.3% a year
  • ADI$25,751+158% total · +20.8% a year
  • AAPL$24,129+141% total · +19.3% a year
  • CSCO$22,737+127% total · +17.9% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • TXN$16,791+67.9% total · +10.9% a year
Change the dates or add tickers to this chart in EasyCompare

TXN 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
$255B
Industry
Semiconductors
Price history from
October 1986

Returns

Past 1 year
+68.0%total return
Past 3 years
+108%+27.7% a year
Past 5 years
+61.8%+10.1% a year
Past 10 years
+413%+17.8% a year
Best calendar year
+126%1999
Worst calendar year
−52.8%2008
Losing years
10 of 29full calendar years

Risk

Volatility
33.8%typical yearly swing, 5 years
Sharpe ratio
0.45return per unit of risk, 5 years
Worst decline ever
−85.8%Mar 2000 to Oct 2002
From its all-time high
−15.4%below the peak

TXN against the whole market

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

How does TXN rank among all stocks?

This section ranks TXN 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 TXN 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.

MeasureTXNRankStanding
1-year return+68.0%348 of 3,282top 11%
3-year return+108%872 of 3,016top 29%
5-year return+61.8%988 of 2,897top 34%
10-year return+413%392 of 2,201top 18%
Volatility, 5 years33.8%1,045 of 2,897top 36%
Sharpe ratio, 5 years0.451,080 of 2,897top 37%
Worst decline, past 10 years−33.4%47 of 2,184top 2%

What has beaten TXN 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). TXN sits where the dashed lines cross. Anything in the green box above and to the left earned more than TXN 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 TXN; faint dots are 93 more of the 581 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.

5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than TXNMSFT: +11.9% a year, volatility 28.2%ABBV: +25.5% a year, volatility 23.4%V: +13.2% a year, volatility 22.9%MUFG: +33.5% a year, volatility 29.4%MA: +12.7% a year, volatility 23.8%PM: +21.3% a year, volatility 23.4%MCK: +37.8% a year, volatility 25.1%TD: +16.5% a year, volatility 20.0%VRTX: +23.9% a year, volatility 29.1%MO: +18.3% a year, volatility 21.4%JNJ: +13.5% a year, volatility 18.0%TRV: +22.4% a year, volatility 22.3%E: +23.7% a year, volatility 25.6%MFC: +23.3% a year, volatility 24.0%BNS: +13.2% a year, volatility 20.0%CTAS: +17.1% a year, volatility 23.1%NVS: +17.4% a year, volatility 20.7%ALL: +17.9% a year, volatility 26.2%AMGN: +20.1% a year, volatility 24.9%AJG: +11.6% a year, volatility 24.3%IHG: +21.7% a year, volatility 26.6%RPRX: +13.8% a year, volatility 23.8%DGX: +13.0% a year, volatility 22.5%FFIV: +16.7% a year, volatility 30.8%INCY: +12.2% a year, volatility 30.1%CIBR: +14.5% a year, volatility 26.2%EWT: +19.8% a year, volatility 24.3%CACI: +16.8% a year, volatility 30.0%FJUL: +11.4% a year, volatility 10.9%VLUE: +16.2% a year, volatility 18.4%PAG: +16.5% a year, volatility 31.8%LAMR: +11.8% a year, volatility 26.5%AMG: +19.0% a year, volatility 31.9%MSGS: +17.5% a year, volatility 25.7%PAGP: +27.8% a year, volatility 26.0%THG: +15.2% a year, volatility 22.9%NHC: +31.2% a year, volatility 28.6%RSPT: +16.6% a year, volatility 25.1%DFIV: +14.8% a year, volatility 16.4%CNO: +19.1% a year, volatility 28.1%AVLV: +13.9% a year, volatility 16.9%DTM: +25.0% a year, volatility 25.2%DAC: +22.0% a year, volatility 31.9%DIVB: +14.6% a year, volatility 15.5%RY: +17.5% a year, volatility 18.2%WELL: +27.0% a year, volatility 23.8%SRCE: +14.8% a year, volatility 27.0%ACT: +20.7% a year, volatility 24.4%JAVA: +11.4% a year, volatility 14.5%BKLC: +13.6% a year, volatility 17.3%HBT: +19.4% a year, volatility 28.7%RBCAA: +14.8% a year, volatility 28.0%CRAK: +19.5% a year, volatility 20.9%MPLX: +24.0% a year, volatility 18.8%GOOG: +18.5% a year, volatility 32.0%TRST: +15.5% a year, volatility 26.8%MBWM: +15.2% a year, volatility 31.6%ORRF: +16.9% a year, volatility 28.7%FBIZ: +23.2% a year, volatility 29.4%RCBC: +15.3% a year, volatility 27.2%SMBK: +14.4% a year, volatility 28.4%DIVI: +13.3% a year, volatility 15.5%BWFG: +20.3% a year, volatility 28.5%CBNK: +12.5% a year, volatility 27.4%TECB: +13.0% a year, volatility 23.9%QDPL: +11.6% a year, volatility 15.0%BRK-A: +13.5% a year, volatility 17.2%XOM: +27.5% a year, volatility 26.5%FFLC: +15.5% a year, volatility 16.8%INFL: +11.6% a year, volatility 17.8%BKIE: +11.4% a year, volatility 16.4%JPM: +17.3% a year, volatility 24.3%EFIV: +13.0% a year, volatility 17.1%FTQI: +11.4% a year, volatility 14.8%HSBC: +32.8% a year, volatility 25.9%SIXA: +12.9% a year, volatility 12.7%GE: +36.0% a year, volatility 31.0%QSPT: +11.9% a year, volatility 14.9%DXJ: +26.6% a year, volatility 19.1%KO: +15.2% a year, volatility 16.8%CVX: +19.7% a year, volatility 25.2%COST: +17.4% a year, volatility 22.9%CAT: +30.7% a year, volatility 32.0%QQQ: +14.2% a year, volatility 23.0%SHEL: +21.4% a year, volatility 24.8%MRK: +16.1% a year, volatility 24.8%RTX: +18.7% a year, volatility 24.4%GILD: +22.8% a year, volatility 24.9%GS: +19.4% a year, volatility 28.6%MS: +16.2% a year, volatility 28.9%IBM: +20.1% a year, volatility 30.2%TTE: +18.8% a year, volatility 25.8%TJX: +19.8% a year, volatility 22.3%TXN: +10.1% a year, volatility 33.8%SPY (S&P 500): +12.5% a year, volatility 17.2%APH: +31.3% a year, volatility 32.4%ADI: +18.6% a year, volatility 34.2%AAPL: +19.1% a year, volatility 28.0%NTAP: +20.6% a year, volatility 35.3%CSCO: +16.9% a year, volatility 26.1%MSI: +15.2% a year, volatility 23.6%GRMN: +14.8% a year, volatility 31.6%SMH: +32.2% a year, volatility 37.0%CAH: +41.7% a year, volatility 24.7%TRGP: +41.8% a year, volatility 31.7%WMT: +21.1% a year, volatility 22.6%MPC: +50.0% a year, volatility 33.4%GLD: +17.1% a year, volatility 19.0%DFAC: +11.3% a year, volatility 17.0%NDAQ: +10.5% a year, volatility 24.9%BFC: +18.7% a year, volatility 27.4%TXNSPY (S&P 500)APHADIAAPLCSCOMSIGRMNSMHCAHTRGPWMTMPCGLDDFACNDAQ0.0%10.0%20.0%30.0%40.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than TXNMSFT: +11.9% a year, volatility 28.2%ABBV: +25.5% a year, volatility 23.4%V: +13.2% a year, volatility 22.9%MUFG: +33.5% a year, volatility 29.4%MA: +12.7% a year, volatility 23.8%PM: +21.3% a year, volatility 23.4%MCK: +37.8% a year, volatility 25.1%TD: +16.5% a year, volatility 20.0%VRTX: +23.9% a year, volatility 29.1%MO: +18.3% a year, volatility 21.4%JNJ: +13.5% a year, volatility 18.0%TRV: +22.4% a year, volatility 22.3%E: +23.7% a year, volatility 25.6%MFC: +23.3% a year, volatility 24.0%BNS: +13.2% a year, volatility 20.0%CTAS: +17.1% a year, volatility 23.1%NVS: +17.4% a year, volatility 20.7%ALL: +17.9% a year, volatility 26.2%AMGN: +20.1% a year, volatility 24.9%AJG: +11.6% a year, volatility 24.3%IHG: +21.7% a year, volatility 26.6%RPRX: +13.8% a year, volatility 23.8%DGX: +13.0% a year, volatility 22.5%FFIV: +16.7% a year, volatility 30.8%INCY: +12.2% a year, volatility 30.1%CIBR: +14.5% a year, volatility 26.2%EWT: +19.8% a year, volatility 24.3%CACI: +16.8% a year, volatility 30.0%FJUL: +11.4% a year, volatility 10.9%VLUE: +16.2% a year, volatility 18.4%PAG: +16.5% a year, volatility 31.8%LAMR: +11.8% a year, volatility 26.5%AMG: +19.0% a year, volatility 31.9%MSGS: +17.5% a year, volatility 25.7%PAGP: +27.8% a year, volatility 26.0%THG: +15.2% a year, volatility 22.9%NHC: +31.2% a year, volatility 28.6%RSPT: +16.6% a year, volatility 25.1%DFIV: +14.8% a year, volatility 16.4%CNO: +19.1% a year, volatility 28.1%AVLV: +13.9% a year, volatility 16.9%DTM: +25.0% a year, volatility 25.2%DAC: +22.0% a year, volatility 31.9%DIVB: +14.6% a year, volatility 15.5%RY: +17.5% a year, volatility 18.2%WELL: +27.0% a year, volatility 23.8%SRCE: +14.8% a year, volatility 27.0%ACT: +20.7% a year, volatility 24.4%JAVA: +11.4% a year, volatility 14.5%BKLC: +13.6% a year, volatility 17.3%HBT: +19.4% a year, volatility 28.7%RBCAA: +14.8% a year, volatility 28.0%CRAK: +19.5% a year, volatility 20.9%MPLX: +24.0% a year, volatility 18.8%GOOG: +18.5% a year, volatility 32.0%TRST: +15.5% a year, volatility 26.8%MBWM: +15.2% a year, volatility 31.6%ORRF: +16.9% a year, volatility 28.7%FBIZ: +23.2% a year, volatility 29.4%RCBC: +15.3% a year, volatility 27.2%SMBK: +14.4% a year, volatility 28.4%DIVI: +13.3% a year, volatility 15.5%BWFG: +20.3% a year, volatility 28.5%CBNK: +12.5% a year, volatility 27.4%TECB: +13.0% a year, volatility 23.9%QDPL: +11.6% a year, volatility 15.0%BRK-A: +13.5% a year, volatility 17.2%XOM: +27.5% a year, volatility 26.5%FFLC: +15.5% a year, volatility 16.8%INFL: +11.6% a year, volatility 17.8%BKIE: +11.4% a year, volatility 16.4%JPM: +17.3% a year, volatility 24.3%EFIV: +13.0% a year, volatility 17.1%FTQI: +11.4% a year, volatility 14.8%HSBC: +32.8% a year, volatility 25.9%SIXA: +12.9% a year, volatility 12.7%GE: +36.0% a year, volatility 31.0%QSPT: +11.9% a year, volatility 14.9%DXJ: +26.6% a year, volatility 19.1%KO: +15.2% a year, volatility 16.8%CVX: +19.7% a year, volatility 25.2%COST: +17.4% a year, volatility 22.9%CAT: +30.7% a year, volatility 32.0%QQQ: +14.2% a year, volatility 23.0%SHEL: +21.4% a year, volatility 24.8%MRK: +16.1% a year, volatility 24.8%RTX: +18.7% a year, volatility 24.4%GILD: +22.8% a year, volatility 24.9%GS: +19.4% a year, volatility 28.6%MS: +16.2% a year, volatility 28.9%IBM: +20.1% a year, volatility 30.2%TTE: +18.8% a year, volatility 25.8%TJX: +19.8% a year, volatility 22.3%TXN: +10.1% a year, volatility 33.8%SPY (S&P 500): +12.5% a year, volatility 17.2%APH: +31.3% a year, volatility 32.4%ADI: +18.6% a year, volatility 34.2%AAPL: +19.1% a year, volatility 28.0%NTAP: +20.6% a year, volatility 35.3%CSCO: +16.9% a year, volatility 26.1%MSI: +15.2% a year, volatility 23.6%GRMN: +14.8% a year, volatility 31.6%SMH: +32.2% a year, volatility 37.0%CAH: +41.7% a year, volatility 24.7%TRGP: +41.8% a year, volatility 31.7%WMT: +21.1% a year, volatility 22.6%MPC: +50.0% a year, volatility 33.4%GLD: +17.1% a year, volatility 19.0%DFAC: +11.3% a year, volatility 17.0%NDAQ: +10.5% a year, volatility 24.9%BFC: +18.7% a year, volatility 27.4%TXNSPY (S&P 500)APHADIAAPLCSCOGRMNCAHTRGPWMTMPCGLDDFAC
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than TXN?

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

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

Screen the whole market against TXN for any period in BetterThanSPYOpen these 17 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 TXN?lower diversifies moreExpenseper year
TXNTexas Instruments Incorporated · this page
+10.1%33.8%0.45−33.4%+413%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.5%17.2%0.78−33.7%+316%0.610.09%
Popular alternativesbest 2 shownThe investments people most often weigh against TXN. 2 of 20 passed at least one test.
APHAmphenol Corporation · Electronic Components
Higher return, similar volatility+31.3%32.4%1.01−37.5%+887%0.47—
ADIAnalog Devices, Inc. · Semiconductors
Higher return, similar volatility+18.6%34.2%0.67−33.6%+625%0.84—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Semiconductors and the categories next to it (Semiconductor Equipment, Communications Equipment, Computer Hardware, Electronic Components), plus TXN's specific themes. 10 of 120 passed at least one test.
AAPLApple Inc. · Computer Hardware
Higher return, lower volatilityHigher return in most periods+19.1%28.0%0.77−38.5%+1,194%0.38—
NTAPNetApp, Inc. · Computer Hardware
Higher return, similar volatilityHigher return in most periods+20.6%35.3%0.71−58.1%+696%0.31—
CSCOCisco Systems, Inc. · Communications Equipment
Higher return, lower volatility+16.9%26.1%0.73−42.0%+361%0.50—
MSIMotorola Solutions, Inc. · Communications Equipment
Higher return, lower volatility+15.2%23.6%0.72−32.8%+639%0.25—
GRMNGarmin Ltd. · Computer Hardware
Higher return, lower volatility+14.8%31.6%0.59−54.6%+678%0.37—
SMHVanEck Semiconductor ETF · Semiconductors
Higher return, similar volatility+32.2%37.0%0.94−45.3%+1,570%0.690.35%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 929 of 3,517 passed at least one test.
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return, lower volatilityHigher return in most periods+41.7%24.7%1.54−46.1%+345%-0.03—
TRGPTarga Resources Corp. · Oil & Gas Midstream
On the frontierHigher return, lower volatilityHigher return in most periods+41.8%31.7%1.27−90.8%+829%0.27—
WMTWalmart Inc. · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst decline+21.1%22.6%0.97−25.7%+521%0.24—
MPCMarathon Petroleum Corporation · Oil Refining
On the frontierHigher return, similar volatilityHigher return in most periods+50.0%33.4%1.39−79.7%+1,314%0.13—
GLDSPDR Gold Shares · Gold
Higher return, lower volatilityHigher Sharpe, smaller worst decline+17.1%19.0%0.93−26.4%+206%0.060.40%
DFACDimensional - US Core Equity 2 ETF · US Total Market
Higher return, lower volatilityHigher Sharpe, smaller worst decline+11.3%17.0%0.72−23.1%—0.610.21%
NDAQNasdaq, Inc. · Capital Markets
Similar return, lower volatilityHigher return in most periods+10.5%24.9%0.53−38.3%+447%0.34—
BFCBank First Corporation · Regional Banks
Higher return, lower volatilitySmaller losses in recent crashes+18.7%27.4%0.76−39.8%+485%0.35—
What these numbers mean for TXN
Annual return
TXN returned 10.1% 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 $16,200. 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
TXN's volatility over the past 5 years was 33.8%, about twice the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, TXN's return lands within 33.8% 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
TXN's Sharpe ratio over the past 5 years was 0.45, against 0.78 for the S&P 500, so TXN 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
TXN's worst fall from a peak to a low over the past 10 years was 33.4%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 33.4% fall takes a 50.2% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, TXN's monthly returns had a correlation of 0.61 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 TXN instead: the lower it is, the more that option would diversify a TXN holding. Guide: Correlation and diversification →
Show all 581 stocks and funds worth at least $500 million that earned more than TXN 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 TXNExpense
1
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+41.7%24.7%1.54−46.1%+345%-0.03—
2
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.27—
3
MSFTMicrosoft Corporation · Software
Whole market+11.9%28.2%0.54−37.1%+862%0.22—
4
ABBVAbbVie Inc. · Specialty Pharmaceuticals
Whole market+25.5%23.4%1.09−45.1%+600%0.06—
5
VVisa Inc. · Payment Processing
Whole market+13.2%22.9%0.66−36.4%+435%0.29—
6
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.5%29.4%1.14−54.9%+485%0.28—
7
MAMastercard Incorporated · Payment Processing
Whole market+12.7%23.8%0.62−41.0%+551%0.22—
8
PMPhilip Morris International Inc. · Tobacco
Whole market+21.3%23.4%0.94−42.9%+240%0.32—
9
MCKMcKesson Corporation · Health Care Distribution
Whole market+37.8%25.1%1.41−38.1%+582%-0.10—
10
WMTWalmart Inc. · Discount Retail
Whole market+21.1%22.6%0.97−25.7%+521%0.24—
11
TDThe Toronto-Dominion Bank · Banks
Whole market+16.5%20.0%0.87−42.0%+319%0.38—
12
VRTXVertex Pharmaceuticals Incorporated · Rare Disease Therapeutics
Whole market+23.9%29.1%0.89−41.6%+580%-0.04—
13
MOAltria Group, Inc. · Tobacco
Whole market+18.3%21.4%0.90−53.7%+133%0.35—
14
JNJJohnson & Johnson · Pharmaceuticals
Whole market+13.5%18.0%0.80−27.4%+209%0.07—
15
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+360%0.09—
16
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.7%25.6%0.96−61.4%+283%0.13—
17
MFCManulife Financial Corporation · Life Insurance
Whole market+23.3%24.0%1.00−57.5%+386%0.46—
18
BNSThe Bank of Nova Scotia · Banks
Whole market+13.2%20.0%0.73−46.9%+191%0.49—
19
CTASCintas Corporation · Business Services
Whole market+17.1%23.1%0.80−48.4%+834%0.34—
20
AAPLApple Inc. · Computer Hardware
Same or nearby category+19.1%28.0%0.77−38.5%+1,194%0.38—
21
NVSNovartis AG · Pharmaceuticals
Whole market+17.4%20.7%0.89−26.8%+234%0.29—
22
ALLThe Allstate Corporation · Property & Casualty Insurance
Whole market+17.9%26.2%0.76−41.4%+377%-0.03—
23
AMGNAmgen Inc. · Biotechnology
Whole market+20.1%24.9%0.86−24.9%+280%0.12—
24
AJGArthur J. Gallagher & Co. · Insurance Brokers
Whole market+11.6%24.3%0.57−44.4%+552%0.11—
25
GLDSPDR Gold Shares · Gold
Whole market+17.1%19.0%0.93−26.4%+206%0.060.40%
26
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.7%26.6%0.88−59.3%+387%0.35—
27
RPRXRoyalty Pharma plc · Pharmaceuticals
Whole market+13.8%23.8%0.67−49.7%—0.21—
28
DGXQuest Diagnostics Incorporated · Medical Diagnostics
Whole market+13.0%22.5%0.66−36.6%+256%0.23—
29
FFIVF5, Inc. · Cybersecurity
Whole market+16.7%30.8%0.66−54.6%+279%0.47—
30
INCYIncyte Corporation · Biotechnology
Whole market+12.2%30.1%0.53−66.5%+32.6%0.23—
31
DFACDimensional - US Core Equity 2 ETF · US Total Market
Whole market+11.3%17.0%0.72−23.1%—0.610.21%
32
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Whole market+14.5%26.2%0.65−33.9%+461%0.310.58%
33
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+19.8%24.3%0.87−38.9%+448%0.640.59%
34
CACICACI International Inc · Business Services
Whole market+16.8%30.0%0.67−42.9%+512%0.05—
35
FJULFT Vest U.S. Equity Buffer ETF - July · US Equity Buffer
Whole market+11.4%10.9%1.04−13.1%—0.590.85%
36
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+16.2%18.4%0.91−39.5%+286%0.660.15%
37
PAGPenske Automotive Group, Inc. · Auto Dealerships
Whole market+16.5%31.8%0.64−60.0%+510%0.39—
38
LAMRLamar Advertising Company · Specialty REITs
Whole market+11.8%26.5%0.56−65.8%+288%0.46—
39
AMGAffiliated Managers Group, Inc. · Asset Management
Whole market+19.0%31.9%0.71−78.5%+186%0.43—
40
MSGSMadison Square Garden Sports Corp. · Entertainment
Whole market+17.5%25.7%0.76−41.6%+395%0.28—
41
PAGPPlains GP Holdings LP · Oil & Gas Midstream
Whole market+27.8%26.0%1.08−88.0%+60.3%0.19—
42
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance
Whole market+15.2%22.9%0.73−40.1%+309%0.11—
43
NHCNational HealthCare Corporation · Health Care Facilities
Whole market+31.2%28.6%1.10−35.3%+385%0.37—
44
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.6%25.1%0.74−33.7%+559%0.650.40%
45
DFIVDimensional - International Value ETF · International Large-Cap Value
Whole market+14.8%16.4%0.93−25.4%—0.470.27%
46
CNOCNO Financial Group, Inc. · Life Insurance
Whole market+19.1%28.1%0.77−63.8%+348%0.31—
47
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Whole market+13.9%16.9%0.86−19.5%—0.590.15%
48
DTMDT Midstream, Inc. · Oil & Gas Midstream
Whole market+25.0%25.2%1.02−23.6%—0.35—
49
DACDanaos Corporation · Marine Shipping
Whole market+22.0%31.9%0.79−94.6%+474%0.31—
50
DIVBiShares Core Dividend ETF · High Dividend Yield
Whole market+14.6%15.5%0.96−36.9%—0.560.05%
51
RYRoyal Bank of Canada · Banks
Whole market+17.5%18.2%0.98−40.0%+361%0.46—
52
WELLWelltower Inc. · Healthcare REITs
Whole market+27.0%23.8%1.13−63.3%+378%0.31—
53
SRCE1st Source Corporation · Regional Banks
Whole market+14.8%27.0%0.65−51.7%+221%0.31—
54
ACTEnact Holdings Inc. · Insurance
Whole market+20.7%24.4%0.90−20.2%—0.26—
55
JAVAJPMorgan Active Value ETF · US Large-Cap Value
Whole market+11.4%14.5%0.82−16.5%——0.44%
56
BKLCBNY Mellon US Large Cap Core Equity ETF · US Large-Cap Equity
Whole market+13.6%17.3%0.83−26.2%—0.590.00%
57
HBTHBT Financial, Inc. · Regional Banks
Whole market+19.4%28.7%0.76−54.0%—0.27—
58
RBCAARepublic Bancorp, Inc. · Regional Banks
Whole market+14.8%28.0%0.63−44.7%+287%0.35—
59
CRAKVanEck Oil Refiners ETF · Oil Refining
Whole market+19.5%20.9%0.96−58.8%+325%0.240.61%
60
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+24.0%18.8%1.25−75.2%+337%0.17—
61
GOOGAlphabet Inc. · Internet Services
Whole market+18.5%32.0%0.69−44.6%+696%0.48—
62
TRSTTrustCo Bank Corp NY · Regional Banks
Whole market+15.5%26.8%0.67−49.5%+127%0.40—
63
MBWMMercantile Bank Corporation · Regional Banks
Whole market+15.2%31.6%0.61−52.1%+220%0.32—
64
ORRFOrrstown Financial Services, Inc. · Regional Banks
Whole market+16.9%28.7%0.69−54.7%+187%0.27—
65
FBIZFirst Business Financial Services, Inc. · Regional Banks
Whole market+23.2%29.4%0.86−50.2%+315%0.28—
66
RCBCRiver City Bank · Regional Banks
Whole market+15.3%27.2%0.66−45.5%+354%-0.03—
67
SMBKSmartFinancial, Inc. · Regional Banks
Whole market+14.4%28.4%0.62−56.4%+222%0.39—
68
DIVIFranklin International Core Dividend Tilt Index ETF · International Dividend Equity
Whole market+13.3%15.5%0.89−27.7%+182%0.550.09%
69
BWFGBankwell Financial Group, Inc. · Regional Banks
Whole market+20.3%28.5%0.79−64.7%+241%0.21—
70
CBNKCapital Bancorp, Inc. · Regional Banks
Whole market+12.5%27.4%0.57−53.7%—0.34—
71
TECBiShares U.S. Tech Breakthrough Multisector ETF · Thematic Equity
Whole market+13.0%23.9%0.63−41.6%—0.540.30%
72
QDPLPacer Metaurus US Large Cap Dividend Multiplier 400 ETF · US Dividend Equity
Whole market+11.6%15.0%0.81−22.6%—0.610.60%
73
BRK-ABerkshire Hathaway Inc. · Insurance
Whole market+13.5%17.2%0.83−30.4%+281%0.22—
74
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.5%26.5%1.05−61.0%+216%0.06—
75
FFLCFidelity Fundamental Large Cap Core ETF · Active Core Equity
Whole market+15.5%16.8%0.94−19.7%—0.600.38%
76
INFLHorizon Kinetics Inflation Beneficiaries ETF · Global Equity
Whole market+11.6%17.8%0.71−21.3%—0.400.85%
77
BKIEBNY Mellon International Equity ETF · Developed International Equity
Whole market+11.4%16.4%0.74−28.2%—0.530.04%
78
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+534%0.30—
79
EFIVState Street SPDR S&P 500 ESG ETF · Large-Cap ESG
Whole market+13.0%17.1%0.81−24.5%—0.610.10%
80
FTQIFirst Trust Nasdaq BuyWrite Income ETF · Nasdaq Options Income
Whole market+11.4%14.8%0.81−19.5%+118%0.550.75%
81
HSBCHSBC Holdings plc · Banks
Whole market+32.8%25.9%1.23−62.3%+314%0.35—
82
SIXAETC 6 Meridian Mega Cap Equity ETF · US Large-Cap Equity
Whole market+12.9%12.7%1.02−18.4%—0.540.31%
83
GEGE Aerospace · Aerospace & Defense
Whole market+36.0%31.0%1.15−80.9%+135%0.34—
84
QSPTFT Vest Nasdaq-100 Buffer ETF - September · Nasdaq-100 Buffer
Whole market+11.9%14.9%0.83−22.6%—0.630.90%
85
DXJWisdomTree Japan Hedged Equity Fund · Japan Equity
Whole market+26.6%19.1%1.34−39.1%+415%0.240.48%
86
KOThe Coca-Cola Company · Nonalcoholic Beverages
Whole market+15.2%16.8%0.93−37.0%+205%0.21—
87
CVXChevron Corporation · Integrated Oil & Gas
Whole market+19.7%25.2%0.84−55.8%+243%0.18—
88
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+692%0.37—
89
CATCaterpillar Inc. · Industrial Machinery
Whole market+30.7%32.0%1.00−43.4%+913%0.45—
90
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.2%23.0%0.69−35.1%+531%0.620.18%
91
SHELShell plc · Integrated Oil & Gas
Whole market+21.4%24.8%0.91−67.2%+236%0.04—
92
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.1%24.8%0.73−43.4%+245%-0.07—
93
RTXRTX Corporation · Aerospace & Defense
Whole market+18.7%24.4%0.83−52.0%+319%-0.03—
94
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+202%0.13—
95
GSThe Goldman Sachs Group, Inc. · Capital Markets
Whole market+19.4%28.6%0.77−48.8%+524%0.48—
96
MSMorgan Stanley · Capital Markets
Whole market+16.2%28.9%0.67−51.3%+630%0.51—
97
IBMInternational Business Machines Corporation · IT Services
Whole market+20.1%30.2%0.76−41.1%+163%0.14—
98
BFCBank First Corporation · Regional Banks
Whole market+18.7%27.4%0.76−39.8%+485%0.35—
99
TTETotalEnergies SE · Integrated Oil & Gas
Whole market+18.8%25.8%0.80−59.6%+237%0.14—
100
TJXThe TJX Companies, Inc. · Apparel Retail
Whole market+19.8%22.3%0.93−42.5%+357%0.19—

TXN against its popular alternatives

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

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

Green points earned more than TXN 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%140%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityTXN: 10.1% a year, volatility 33.8%SPY (S&P 500): 12.5% a year, volatility 17.2%APH: 31.3% a year, volatility 32.4%MXL: 4.3% a year, volatility 83.5%SLAB: 7.8% a year, volatility 48.3%STM: 0.9% a year, volatility 47.9%ON: 9.8% a year, volatility 55.9%SWKS: −10.5% a year, volatility 42.9%DIOD: −2.4% a year, volatility 50.1%MCHP: 2.0% a year, volatility 45.9%NXPI: 5.5% a year, volatility 42.3%POWI: −13.3% a year, volatility 46.6%ALGM: −0.9% a year, volatility 53.5%NVTS: −7.0% a year, volatility 124%AMAT: 23.6% a year, volatility 47.6%ADI: 18.6% a year, volatility 34.2%AVGO: 46.9% a year, volatility 44.6%KLAC: 35.3% a year, volatility 46.9%ASML: 15.3% a year, volatility 43.5%MPWR: 18.9% a year, volatility 55.5%FLEX: 32.6% a year, volatility 48.5%SITM: 15.2% a year, volatility 78.0%TXNSPY (S&P 500)APHMXLSLABSTMONSWKSDIODMCHPNXPIPOWINVTSAMATADIAVGOKLACASMLMPWRFLEXSITM0.0%50.0%100%150%−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 volatilityTXN: 10.1% a year, volatility 33.8%SPY (S&P 500): 12.5% a year, volatility 17.2%APH: 31.3% a year, volatility 32.4%MXL: 4.3% a year, volatility 83.5%SLAB: 7.8% a year, volatility 48.3%STM: 0.9% a year, volatility 47.9%ON: 9.8% a year, volatility 55.9%SWKS: −10.5% a year, volatility 42.9%DIOD: −2.4% a year, volatility 50.1%MCHP: 2.0% a year, volatility 45.9%NXPI: 5.5% a year, volatility 42.3%POWI: −13.3% a year, volatility 46.6%ALGM: −0.9% a year, volatility 53.5%NVTS: −7.0% a year, volatility 124%AMAT: 23.6% a year, volatility 47.6%ADI: 18.6% a year, volatility 34.2%AVGO: 46.9% a year, volatility 44.6%KLAC: 35.3% a year, volatility 46.9%ASML: 15.3% a year, volatility 43.5%MPWR: 18.9% a year, volatility 55.5%FLEX: 32.6% a year, volatility 48.5%SITM: 15.2% a year, volatility 78.0%TXNSPY (S&P 500)APHMXLSLABSTMSWKSDIODMCHPNXPIPOWINVTSAMATADIAVGOKLACMPWRSITM
All figures
InvestmentAnnual returnVolatility
AVGO Broadcom Inc.+46.9%44.6%
KLAC KLA Corporation+35.3%46.9%
FLEX Flex Ltd.+32.6%48.5%
APH Amphenol Corporation+31.3%32.4%
AMAT Applied Materials, Inc.+23.6%47.6%
MPWR Monolithic Power Systems, Inc.+18.9%55.5%
ADI Analog Devices, Inc.+18.6%34.2%
ASML ASML Holding N.V.+15.3%43.5%
SITM SiTime Corporation+15.2%78.0%
SPY S&P 500State Street SPDR S&P 500 ETF+12.5%17.2%
TXN This pageTexas Instruments Incorporated+10.1%33.8%
ON ON Semiconductor Corporation+9.8%55.9%
SLAB Silicon Laboratories Inc.+7.8%48.3%
NXPI NXP Semiconductors N.V.+5.5%42.3%
MXL MaxLinear, Inc.+4.3%83.5%
MCHP Microchip Technology Incorporated+2.0%45.9%
STM STMicroelectronics N.V.+0.9%47.9%
ALGM Allegro MicroSystems, Inc.−0.9%53.5%
DIOD Diodes Incorporated−2.4%50.1%
NVTS Navitas Semiconductor Corp−7.0%124%
SWKS Skyworks Solutions, Inc.−10.5%42.9%
POWI Power Integrations, Inc.−13.3%46.6%
Open these 22 in EasyCompare

Has TXN consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than TXN 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
TXN Texas Instruments Incorporated (this page)—+3.0%−4.5%+19.5%+60.1%+68.0%+108%+61.8%+413%33.8%0.45−33.4%—$255B—
AMAT SemiconductorsApplied Materials, Inc.1/5 short3/3 long−20.5%−32.1%−6.7%+40.2%+71.2%+186%+188%+1,334%47.6%0.69−55.1%—$298B—
ADI SemiconductorsAnalog Devices, Inc.1/5 short3/3 long−1.2%+0.1%+1.7%+42.2%+62.5%+147%+135%+625%34.2%0.67−33.6%—$187B—
AVGO SemiconductorsBroadcom Inc.0/5 short3/3 long−11.3%−18.4%−23.3%−6.5%−4.3%+287%+585%+2,254%44.6%1.09−48.3%—$1.5T—
KLAC SemiconductorsKLA Corporation0/5 short3/3 long−21.5%−31.1%−18.2%+16.4%+33.4%+227%+353%+2,224%46.9%0.88−50.9%—$193B—
ASML SemiconductorsASML Holding N.V.0/5 short3/3 long−10.7%−13.3%+8.5%+34.7%+55.3%+172%+104%+1,527%43.5%0.55−56.9%—$601B—
MPWR SemiconductorsMonolithic Power Systems, Inc.0/5 short3/3 long−15.3%−16.4%−23.0%+25.4%+17.4%+189%+137%+1,495%55.5%0.59−51.6%—$57B—
APH Hardware, Equipment & PartsAmphenol Corporation0/5 short3/3 long−11.8%−7.1%−1.1%+5.3%+14.6%+282%+290%+887%32.4%1.01−37.5%—$180B—
FLEX Hardware, Equipment & PartsFlex Ltd.0/5 short3/3 long−33.0%−39.6%−10.2%+20.4%+25.0%+223%+311%+457%48.5%0.83−70.0%—$28B—
SITM SemiconductorsSiTime Corporation1/5 short2/3 long−27.0%−21.7%−11.8%+25.1%+74.3%+341%+102%—78.0%0.57−78.1%—$14B—
MXL SemiconductorsMaxLinear, Inc.3/5 short1/3 long−25.3%−24.8%+92.6%+253%+289%+234%+23.5%+233%83.5%0.45−88.1%—$5.9B—
SLAB SemiconductorsSilicon Laboratories Inc.2/5 short1/3 long−0.4%+1.8%+3.2%+67.6%+67.7%+121%+45.9%+274%48.3%0.39−59.0%—$7.4B—
STM SemiconductorsSTMicroelectronics N.V.1/5 short1/3 long−17.4%−32.9%−1.4%+62.0%+52.8%+14.3%+4.8%+498%47.9%0.26−66.6%—$39B—
ON SemiconductorsON Semiconductor Corporation0/5 short1/3 long−0.5%−20.7%−17.7%+29.2%+41.0%−12.4%+59.3%+506%55.9%0.45−70.4%—$29B—
SWKS SemiconductorsSkyworks Solutions, Inc.2/5 short0/3 long−8.4%+30.4%+34.5%+30.6%+15.0%+0.4%−42.6%+30.3%42.9%-0.04−72.9%—$12B—
DIOD SemiconductorsDiodes Incorporated0/5 short0/3 long−14.9%−14.1%−16.4%+58.7%+45.1%+13.6%−11.4%+294%50.1%0.20−69.5%—$3.8B—
MCHP SemiconductorsMicrochip Technology Incorporated0/5 short0/3 long−1.7%−11.8%−8.7%+16.5%+18.5%+8.0%+10.5%+197%45.9%0.27−63.8%—$40B—
NXPI SemiconductorsNXP Semiconductors N.V.0/5 short0/3 long+0.1%−14.3%+6.2%+8.9%+11.4%+37.5%+30.4%+166%42.3%0.33−53.3%—$60B—
POWI SemiconductorsPower Integrations, Inc.0/5 short0/3 long−8.4%−34.7%−33.9%+27.8%+13.1%−29.8%−50.9%+65.6%46.6%-0.08−70.7%—$2.6B—
ALGM SemiconductorsAllegro MicroSystems, Inc.0/5 short0/3 long−10.8%−36.5%−25.0%+17.8%+3.2%+11.8%−4.3%—53.5%0.25−68.7%—$5.9B—
NVTS SemiconductorsNavitas Semiconductor Corp0/5 short0/3 long−31.9%−33.0%−54.0%+1.3%−37.6%+57.8%−30.3%—124%0.44−92.0%—$2.2B—
Open these 21 in EasyCompare

How did TXN do year by year?

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

InvestmentYears ahead of TXN20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
TXN This pageTexas Instruments Incorporated—−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%
Rank among alternativesTop quarter in 4 of 2916 of 215 of 2116 of 214 of 2117 of 2013 of 1915 of 186 of 186 of 186 of 187 of 188 of 188 of 1811 of 188 of 184 of 1610 of 1511 of 158 of 1514 of 153 of 155 of 146 of 1410 of 1412 of 145 of 129 of 124 of 125 of 11
SPY S&P 500State Street SPDR S&P 500 ETF12 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%
AMAT Applied Materials, Inc.16 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%
ADI Analog Devices, Inc.13 of 29+29.8%+8.8%+23.4%−4.9%+21.0%+26.9%+41.3%−1.6%+25.3%+35.0%+2.4%+12.2%+24.7%+21.2%−2.4%+22.7%+71.5%−38.0%−1.5%−6.7%−1.9%−18.7%+91.4%−46.2%−13.3%+10.1%+197%+13.3%+8.9%
AVGO Broadcom Inc.13 of 16+50.6%+110%+104%−13.3%+56.5%+45.0%+29.0%+2.2%+48.2%+23.6%+46.1%+93.4%+70.0%+12.0%+3.0%+55.4%—————————————
KLAC KLA Corporation11 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%
ASML ASML Holding N.V.16 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%
MPWR Monolithic Power Systems, Inc.14 of 21+54.4%−5.5%+79.8%−27.8%+35.5%+107%+54.8%+4.5%+38.2%+30.1%+30.0%+44.9%+55.6%+54.9%−8.8%−31.1%+90.1%−41.3%+93.3%−25.9%+61.2%————————
APH Amphenol Corporation14 of 29+97.6%+41.6%+31.5%−11.9%+35.0%+22.1%+34.9%−6.9%+32.1%+31.0%−1.0%+21.7%+38.7%+43.6%−13.6%+13.9%+92.9%−48.2%+50.3%+40.5%+21.1%+15.0%+68.1%−20.7%+22.9%+17.3%+120%−45.8%+150%
FLEX Flex Ltd.13 of 29+57.4%+73.2%+3.3%+17.1%+1.9%+42.5%+65.8%−57.7%+25.2%+28.2%+0.3%+43.9%+25.1%+9.7%−27.9%+7.4%+186%−78.8%+5.1%+10.0%−24.5%−6.6%+80.7%−65.9%−15.8%+24.1%+115%+148%+24.2%
SITM SiTime Corporation5 of 6+64.6%+75.7%+20.1%−65.3%+161%+339%———————————————————————
MXL MaxLinear, Inc.5 of 15−11.9%−16.8%−30.0%−55.0%+97.4%+80.0%+20.6%−33.4%+21.2%+48.0%+98.8%−29.0%+108%+5.7%−55.9%——————————————
SLAB Silicon Laboratories Inc.10 of 25+5.2%−6.1%−2.5%−34.3%+62.1%+9.8%+47.2%−10.8%+35.9%+33.9%+1.9%+10.0%+3.6%−3.7%−5.7%−4.9%+95.2%−33.8%+8.0%−5.5%+3.8%−18.4%+127%−43.4%+134%————
STM STMicroelectronics N.V.12 of 29+5.3%−49.6%+41.6%−26.8%+32.4%+38.9%+96.4%−35.7%+95.1%+76.9%−6.7%−2.5%+15.2%+30.1%−40.6%+15.9%+43.9%−52.3%−21.1%+2.9%−6.1%−28.1%+39.0%−38.3%−26.0%−15.2%+288%+27.8%−12.7%
ON ON Semiconductor Corporation10 of 25−14.1%−24.5%+33.9%−8.2%+108%+34.3%+47.7%−21.1%+64.1%+30.2%−3.3%+22.9%+16.9%−8.7%−21.9%+12.0%+159%−61.7%+17.3%+36.9%+21.8%−29.9%+373%−33.8%−60.6%————
SWKS Skyworks Solutions, Inc.15 of 29−25.5%−18.9%+26.5%−40.0%+2.7%+28.4%+84.1%−28.3%+28.7%−1.2%+6.7%+156%+40.6%+25.2%−43.4%+102%+156%−34.8%+20.2%+38.9%−45.9%+8.4%+0.9%−60.5%−41.1%+29.1%+139%+123%+104%
DIOD Diodes Incorporated13 of 29−20.0%−23.4%+5.8%−30.7%+55.8%+25.1%+74.7%+12.5%+11.7%+11.7%−16.7%+17.0%+35.8%−18.5%−21.1%+32.2%+237%−79.8%+27.2%+14.2%+106%+19.2%+196%+44.7%−35.8%−27.8%+330%−48.8%+35.0%
MCHP Microchip Technology Incorporated12 of 29+14.6%−34.9%+30.9%−18.0%+27.5%+33.7%+48.1%−16.7%+39.5%+41.6%+6.3%+4.0%+42.4%−7.1%+10.3%+24.6%+57.8%−34.8%−0.7%+4.4%+22.6%−19.9%+36.8%−5.1%+76.5%−27.9%+85.0%+23.6%−11.6%
NXPI NXP Semiconductors N.V.8 of 15+6.4%−8.0%+48.4%−29.2%+44.8%+26.6%+75.7%−37.0%+19.5%+16.3%+10.3%+66.3%+74.5%+71.2%−26.6%——————————————
POWI Power Integrations, Inc.13 of 28−41.3%−24.0%+15.6%−22.1%+14.1%+66.7%+63.7%−16.3%+9.3%+40.8%−5.1%−6.6%+67.2%+1.9%−17.0%+11.1%+83.7%−42.1%+46.6%−1.5%+20.4%−40.9%+96.8%−25.6%+98.6%−76.0%+283%+171%—
ALGM Allegro MicroSystems, Inc.2 of 5+20.7%−27.8%+0.8%−17.0%+35.7%————————————————————————
NVTS Navitas Semiconductor Corp2 of 4+100%−55.8%+130%−79.4%—————————————————————————
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Risk and diversification

How TXN 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 TXN's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents TXN'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 TXN fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringTXN fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−85.8%−42.7%Mar 2000Oct 20022.6 yearsNov 201614.1 years
No named crash−68.8%—Oct 1987Oct 19903 yearsJun 19932.7 years
No named crash−48.6%+8.9%Sep 1995Jul 199610 monthsFeb 19977 months
No named crash−42.0%−1.3%Oct 1997Dec 19972 monthsNov 199811 months
No named crash−33.4%−13.6%Nov 2024Apr 20255 monthsJul 20253 months

How did TXN do in stock market crashes?

This section measures how far TXN, 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 TXN.

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
TXN This pageTexas Instruments Incorporated—−2.6%−21.7%−29.8%−19.5%−9.3%−18.4%−21.6%−1.3%−61.4%−85.4%
SPY S&P 500State Street SPDR S&P 500 ETF5 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
AMAT Applied Materials, Inc.1 of 10−3.6%−54.2%−43.6%−26.4%−9.7%−18.8%−24.5%−1.6%−61.7%−82.0%
ADI Analog Devices, Inc.5 of 10−2.6%−22.6%−33.6%−18.1%−7.2%−22.7%−18.6%−1.2%−55.0%−82.0%
AVGO Broadcom Inc.3 of 8−2.8%−34.3%−46.8%−15.2%−4.5%−21.6%−26.7%0.0%——
KLAC KLA Corporation3 of 10−5.9%−37.6%−33.8%−21.6%−7.5%−13.5%−23.0%−2.8%−71.8%−73.2%
ASML ASML Holding N.V.2 of 10−2.9%−48.4%−37.9%−24.4%−7.5%−22.1%−17.7%−2.7%−64.1%−90.0%
MPWR Monolithic Power Systems, Inc.1 of 9−5.1%−39.7%−27.9%−21.4%−9.8%−18.1%−32.0%−5.4%−72.3%—
APH Amphenol Corporation2 of 10−3.8%−27.8%−33.8%−20.4%−7.5%−19.0%−21.9%−1.7%−63.6%−60.7%
FLEX Flex Ltd.1 of 10−8.0%−24.2%−57.5%−48.0%−6.1%−22.8%−27.3%−1.8%−87.9%−86.7%
SITM SiTime Corporation0 of 3−6.1%−71.0%−46.1%———————
MXL MaxLinear, Inc.1 of 8−7.2%−58.4%−56.6%−23.8%−4.0%−23.7%−33.7%−2.8%——
SLAB Silicon Laboratories Inc.1 of 9−3.4%−42.9%−34.8%−22.7%−10.1%−32.0%−25.2%−1.9%−60.6%—
STM STMicroelectronics N.V.1 of 10−3.2%−40.6%−49.6%−31.0%−9.1%−31.6%−36.9%−3.2%−77.2%−83.5%
ON ON Semiconductor Corporation1 of 9−6.4%−34.0%−59.6%−23.7%−12.2%−39.2%−28.5%0.0%−80.0%—
SWKS Skyworks Solutions, Inc.1 of 10−3.0%−50.0%−43.0%−32.3%−5.3%−38.6%−37.2%−3.4%−66.0%−95.7%
DIOD Diodes Incorporated2 of 10−4.0%−45.5%−33.1%−18.6%−5.0%−29.6%−34.3%−3.4%−90.1%−86.5%
MCHP Microchip Technology Incorporated4 of 10−3.8%−35.3%−49.0%−25.9%−14.4%−18.6%−12.7%−0.4%−55.2%−58.7%
NXPI NXP Semiconductors N.V.1 of 7−4.2%−38.8%−52.0%−27.4%−4.0%−35.5%−39.8%———
POWI Power Integrations, Inc.5 of 10−3.3%−35.7%−21.7%−26.1%−7.5%−20.9%−24.3%0.0%−57.5%−84.3%
ALGM Allegro MicroSystems, Inc.0 of 2−5.9%−44.4%————————
NVTS Navitas Semiconductor Corp0 of 2−8.6%−76.9%————————
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How closely does TXN 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 TXN 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 TXN's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
TXN This pageTexas Instruments Incorporated113%108%1.041.18
KLAC KLA Corporation152%59%2.571.32
AVGO Broadcom Inc.158%86%1.851.19
APH Amphenol Corporation125%79%1.591.24
AMAT Applied Materials, Inc.152%97%1.581.51
MPWR Monolithic Power Systems, Inc.156%107%1.461.31
ASML ASML Holding N.V.170%132%1.291.44
ADI Analog Devices, Inc.117%92%1.261.20
STM STMicroelectronics N.V.122%104%1.171.72
FLEX Flex Ltd.136%124%1.101.57
DIOD Diodes Incorporated128%146%0.881.53
SLAB Silicon Laboratories Inc.113%130%0.871.18
ON ON Semiconductor Corporation161%185%0.871.95
MXL MaxLinear, Inc.140%169%0.832.95
MCHP Microchip Technology Incorporated127%170%0.751.72
NXPI NXP Semiconductors N.V.115%157%0.731.63
POWI Power Integrations, Inc.89%133%0.671.28
SWKS Skyworks Solutions, Inc.88%149%0.591.31
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What diversifies TXN?

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

ETFs

InvestmentCorrelation5Y returnSharpe202520222018201120082006200420022001200080/20 mix volatility80/20 mix annual return
TXN Texas Instruments Incorporated (this page)1.00+61.8%0.45−4.5%−9.9%−7.2%−8.8%−52.8%−9.8%−15.9%−46.2%−40.8%−1.8%34.7%+10.9%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.34+119%1.48+27.1%+3.8%−5.2%———————28.4%+12.9%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.24+225%1.34+32.8%+6.0%−19.8%−16.1%−20.8%—————28.5%+14.9%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.34+103%1.06+9.7%+10.4%−8.7%———————28.9%+12.6%
EWP Broad MarketiShares MSCI Spain ETF0.35+141%0.97+78.0%−5.2%−15.3%−9.8%−36.8%+49.2%+30.2%−13.6%−9.2%−11.8%29.3%+13.7%
FTLS Broad MarketFirst Trust Long/Short Equity ETF0.48+61.5%0.97+9.1%−5.6%−4.8%———————28.6%+11.7%
XLE EnergyState Street Energy Select Sector SPDR ETF0.18+178%0.94+7.9%+64.4%−18.2%+2.8%−39.0%+18.0%+33.8%−14.8%−18.2%+24.4%29.1%+14.5%
GLD CommoditiesSPDR Gold Shares0.06+120%0.93+63.7%−0.8%−1.9%+9.6%+4.9%+22.6%————28.2%+13.5%
AMLP EnergyAlerian MLP ETF0.22+114%0.90+5.8%+25.5%−12.6%+10.2%——————28.8%+13.3%

Stocks

InvestmentCorrelation5Y returnSharpe202520222018201120082006200420022001200080/20 mix volatility80/20 mix annual return
TXN Texas Instruments Incorporated (this page)1.00+61.8%0.45−4.5%−9.9%−7.2%−8.8%−52.8%−9.8%−15.9%−46.2%−40.8%−1.8%34.7%+10.9%
CAH Medical - DistributionCardinal Health, Inc.-0.03+471%1.54+76.3%+54.1%−24.5%+8.1%−39.6%−5.8%−4.7%−8.3%−2.5%+108%28.1%+17.4%
CLS Hardware, Equipment & PartsCelestica Inc.0.29+2,780%1.43+220%+1.3%−16.3%−24.4%−20.5%−26.0%−6.4%−65.1%−25.6%−2.3%33.1%+29.4%
MCK Medical - DistributionMcKesson Corporation-0.10+397%1.41+44.5%+51.8%−28.4%+11.8%−40.4%−1.2%−1.4%−27.2%+4.9%+61.2%27.7%+16.9%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.33+1,452%1.41+121%+17.0%+0.8%−17.0%−15.2%+38.9%+40.0%−9.4%+73.7%−71.1%31.9%+25.5%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.13+660%1.39+19.2%+86.6%−8.2%———————29.3%+19.3%
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Common questions

What was TXN's worst drawdown?

TXN's deepest decline since it began trading in 1986 was 85.8%, from March 2000 to October 2002. It took about 14 years from the low to climb back to its old high.

What were TXN's best and worst years?

Over 29 full calendar years, TXN's best year was 1999, when it returned 126%. Its worst was 2008, with a return of -52.8%.

Is there a better investment than TXN?

Among TXN's popular alternatives, APH and ADI earned more than TXN over the past 5 years with similar volatility: APH returned 31.3% a year at 32.4% volatility, against 10.1% a year at 33.8%. Looking beyond its popular alternatives, AAPL (computer hardware) and CSCO (communications equipment) earned more than TXN with less volatility over the past 5 years. AAPL returned 19.1% a year at 28.0% volatility, against 10.1% a year at 33.8%.

Is TXN more volatile than the S&P 500?

Yes. TXN's volatility over the past 5 years was 33.8%, about twice the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, TXN's return lands within 33.8% 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 TXN's Sharpe ratio?

TXN's Sharpe ratio over the past 5 years was 0.45, against 0.78 for the S&P 500, so TXN 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 TXN with the S&P 500?

Over the past 5 years, TXN's monthly returns had a correlation of 0.61 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 TXN instead: the lower it is, the more that option would diversify a TXN holding.

What are the best alternatives to TXN?

None of the 20 popular alternatives we compared outperformed TXN in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about TXN's strength than about its alternatives.

Did TXN outperform the S&P 500?

TXN finished ahead of the S&P 500 (SPY) in 17 of 29 full calendar years. In 2025, it returned -4.5%, against +17.7% for the index.

How did TXN do in stock market crashes?

TXN fell less than the S&P 500 (SPY) in three of the ten major crashes it has traded through, and further in five. The clearest case was the dot-com bust, when TXN fell 85.4% and the S&P 500 fell 47.5%.

What diversifies TXN?

These had a low correlation with TXN over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.34), DXJ (correlation 0.24) and EMLP (correlation 0.34); among large stocks, CAH (correlation -0.03), CLS (correlation 0.29) and MCK (correlation -0.10). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to TXN

Other stocks and ETFs