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Relative Intelligence · Software

How Cadence Design Systems (CDNS) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on CDNS alone. It places CDNS (Cadence Design Systems, Inc.) against 10 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 CDNS stands in the market, and of the alternatives worth a closer look.

Period covered: CDNS's full trading record, from June 1987 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against CDNS →Chart CDNS vs. 10 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in CDNS over the past 28 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of CDNS over the same span and CDNS'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.

Note: The chart covers the past 28 years rather than CDNS's full 29 years, because most of its popular alternatives have not traded that long.

Choose a period

From the end of September 1998 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. 511 of the 1,106 stocks and funds worth at least $500 million that traded the whole period ended ahead of CDNS; the chart shows 5, closest alternatives first. The other 1 line is a popular alternative, shown for context.

$10,000$100,000$1M199820032008201320182023$10,000$100,000$1M19982005201220192026
  • ASML$3M+30,869% total · +22.7% a year
  • TSM$2M+23,057% total · +21.5% a year
  • ADI$814,605+8,046% total · +17.0% a year
  • ADSK$333,339+3,233% total · +13.3% a year
  • SNPS$261,063+2,511% total · +12.4% a year
  • CDNS$129,178+1,192% total · +9.6% a year
  • SPY (S&P 500)$121,630+1,116% total · +9.3% a year
  • PTC$55,756+458% total · +6.3% 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. 668 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of CDNS; 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
  • NVDA$110,811+1,008% total · +61.8% a year
  • SMH$48,982+390% total · +37.4% a year
  • TSM$43,622+336% total · +34.3% a year
  • ADI$25,751+158% total · +20.8% a year
  • FFIV$22,395+124% total · +17.5% a year
  • KEYS$22,159+122% total · +17.2% a year
  • CDNS$21,803+118% total · +16.9% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • PTC$11,712+17.1% total · +3.2% a year
  • DSGX$9,951−0.5% total · −0.1% a year
Change the dates or add tickers to this chart in EasyCompare

CDNS 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
$88B
Industry
Software - Application
Price history from
June 1987

Returns

Past 1 year
−3.0%total return
Past 3 years
+34.0%+10.3% a year
Past 5 years
+99.8%+14.8% a year
Past 10 years
+1,139%+28.6% a year
Best calendar year
+96.7%2020
Worst calendar year
−78.5%2008
Losing years
7 of 29full calendar years

Risk

Volatility
37.2%typical yearly swing, 5 years
Sharpe ratio
0.56return per unit of risk, 5 years
Worst decline ever
−93.1%Apr 1998 to Dec 2008
From its all-time high
−23.2%below the peak

CDNS against the whole market

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

How does CDNS rank among all stocks?

This section ranks CDNS 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 CDNS 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.

MeasureCDNSRankStanding
1-year return−3.0%2,109 of 3,287bottom 37%
3-year return+34.0%1,785 of 3,017bottom 42%
5-year return+99.8%684 of 2,893top 24%
10-year return+1,139%86 of 2,202top 4%
Volatility, 5 years37.2%1,282 of 2,893top 44%
Sharpe ratio, 5 years0.56785 of 2,893top 27%
Worst decline, past 10 years−34.2%59 of 2,187top 3%

What has beaten CDNS 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). CDNS sits where the dashed lines cross. Anything in the green box above and to the left earned more than CDNS 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 CDNS; faint dots are 93 more of the 285 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

0.0%10.0%20.0%30.0%40.0%50.0%60.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than CDNSACT: +20.5% a year, volatility 24.3%AAPL: +18.5% a year, volatility 28.0%MPLX: +23.5% a year, volatility 18.8%LLY: +40.7% a year, volatility 32.8%XOM: +27.1% a year, volatility 26.5%JPM: +17.3% a year, volatility 24.3%ABBV: +26.1% a year, volatility 23.4%HSBC: +33.1% a year, volatility 25.9%LVHI: +17.0% a year, volatility 11.1%CVX: +19.5% a year, volatility 25.2%COST: +17.4% a year, volatility 22.9%MUFG: +33.2% a year, volatility 29.4%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%SHEL: +21.0% a year, volatility 24.8%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%APH: +33.8% a year, volatility 32.2%WELL: +26.0% a year, volatility 23.8%RTX: +18.6% a year, volatility 24.3%SAN: +31.7% a year, volatility 33.9%BBVA: +38.7% a year, volatility 33.3%GILD: +22.8% a year, volatility 24.9%MFG: +33.6% a year, volatility 30.6%TTE: +18.0% a year, volatility 25.8%PSX: +33.2% a year, volatility 32.9%VGT: +18.4% a year, volatility 26.0%UBS: +25.4% a year, volatility 30.4%SMFG: +33.7% a year, volatility 29.4%PH: +27.4% a year, volatility 28.8%BHP: +16.6% a year, volatility 31.4%BTI: +18.7% a year, volatility 22.0%PGR: +21.3% a year, volatility 25.6%VRTX: +22.6% a year, volatility 29.1%MO: +17.8% a year, volatility 21.4%SU: +33.1% a year, volatility 32.5%TRGP: +41.8% a year, volatility 31.7%CNQ: +26.5% a year, volatility 32.5%BNY: +22.7% a year, volatility 24.4%CM: +19.2% a year, volatility 21.6%ITUB: +26.3% a year, volatility 33.8%TRV: +22.4% a year, volatility 22.3%TT: +22.7% a year, volatility 27.7%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%EPD: +16.4% a year, volatility 17.1%ING: +24.7% a year, volatility 31.1%IMO: +34.3% a year, volatility 32.0%BP: +16.0% a year, volatility 28.7%COR: +24.2% a year, volatility 22.8%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%EQNR: +19.2% a year, volatility 34.4%HLT: +21.0% a year, volatility 26.8%MNST: +17.2% a year, volatility 24.9%KMI: +18.7% a year, volatility 22.5%CTAS: +16.5% a year, volatility 23.1%AFL: +19.0% a year, volatility 20.8%JCI: +17.4% a year, volatility 29.1%WAB: +25.6% a year, volatility 26.2%ROST: +18.1% a year, volatility 29.5%LNG: +23.4% a year, volatility 30.2%ESLT: +39.8% a year, volatility 34.6%CCEP: +19.7% a year, volatility 23.2%ALL: +17.0% a year, volatility 26.2%XLE: +22.6% a year, volatility 25.5%BKR: +19.7% a year, volatility 34.6%BAP: +30.8% a year, volatility 30.3%KB: +25.3% a year, volatility 34.4%NWG: +27.7% a year, volatility 34.1%CBOE: +21.5% a year, volatility 25.1%IX: +17.9% a year, volatility 25.4%SDCI: +20.6% a year, volatility 18.4%HEI: +17.3% a year, volatility 27.8%GLD: +17.7% a year, volatility 18.9%NTAP: +20.9% a year, volatility 35.3%CIB: +32.9% a year, volatility 32.9%TS: +24.3% a year, volatility 33.3%KOF: +22.3% a year, volatility 24.7%SHG: +21.0% a year, volatility 31.1%WRB: +18.9% a year, volatility 22.9%IHG: +21.4% a year, volatility 26.6%PAA: +27.0% a year, volatility 25.6%SPMO: +18.7% a year, volatility 20.8%RS: +24.8% a year, volatility 28.1%BCH: +25.2% a year, volatility 28.2%USFD: +22.7% a year, volatility 29.8%PVAL: +16.1% a year, volatility 15.1%UTHR: +23.6% a year, volatility 35.1%UNM: +30.6% a year, volatility 29.3%NMR: +17.1% a year, volatility 29.9%WES: +23.5% a year, volatility 27.6%WF: +26.3% a year, volatility 31.6%CDNS: +14.8% a year, volatility 37.2%SPY (S&P 500): +12.7% a year, volatility 17.1%TSM: +31.5% a year, volatility 38.5%SMH: +33.4% a year, volatility 36.9%NVDA: +58.0% a year, volatility 51.9%ADI: +19.5% a year, volatility 34.1%FFIV: +17.1% a year, volatility 30.8%PANW: +31.9% a year, volatility 43.4%ASML: +17.4% a year, volatility 43.4%ASX: +48.8% a year, volatility 43.0%CIBR: +14.1% a year, volatility 26.1%WMT: +20.8% a year, volatility 22.6%NVS: +17.1% a year, volatility 20.7%AMGN: +19.6% a year, volatility 24.9%RY: +17.3% a year, volatility 18.2%MPC: +51.2% a year, volatility 33.4%DXJ: +26.6% a year, volatility 19.1%PBR-A: +51.8% a year, volatility 37.5%FFLC: +15.7% a year, volatility 16.8%CAH: +42.1% a year, volatility 24.7%CDNSSPY (S&P 500)TSMSMHNVDAADIFFIVPANWASMLASXCIBRWMTNVSAMGNRYMPCDXJPBR-AFFLCCAH0.0%10.0%20.0%30.0%40.0%50.0%60.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than CDNSACT: +20.5% a year, volatility 24.3%AAPL: +18.5% a year, volatility 28.0%MPLX: +23.5% a year, volatility 18.8%LLY: +40.7% a year, volatility 32.8%XOM: +27.1% a year, volatility 26.5%JPM: +17.3% a year, volatility 24.3%ABBV: +26.1% a year, volatility 23.4%HSBC: +33.1% a year, volatility 25.9%LVHI: +17.0% a year, volatility 11.1%CVX: +19.5% a year, volatility 25.2%COST: +17.4% a year, volatility 22.9%MUFG: +33.2% a year, volatility 29.4%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%SHEL: +21.0% a year, volatility 24.8%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%APH: +33.8% a year, volatility 32.2%WELL: +26.0% a year, volatility 23.8%RTX: +18.6% a year, volatility 24.3%SAN: +31.7% a year, volatility 33.9%BBVA: +38.7% a year, volatility 33.3%GILD: +22.8% a year, volatility 24.9%MFG: +33.6% a year, volatility 30.6%TTE: +18.0% a year, volatility 25.8%PSX: +33.2% a year, volatility 32.9%VGT: +18.4% a year, volatility 26.0%UBS: +25.4% a year, volatility 30.4%SMFG: +33.7% a year, volatility 29.4%PH: +27.4% a year, volatility 28.8%BHP: +16.6% a year, volatility 31.4%BTI: +18.7% a year, volatility 22.0%PGR: +21.3% a year, volatility 25.6%VRTX: +22.6% a year, volatility 29.1%MO: +17.8% a year, volatility 21.4%SU: +33.1% a year, volatility 32.5%TRGP: +41.8% a year, volatility 31.7%CNQ: +26.5% a year, volatility 32.5%BNY: +22.7% a year, volatility 24.4%CM: +19.2% a year, volatility 21.6%ITUB: +26.3% a year, volatility 33.8%TRV: +22.4% a year, volatility 22.3%TT: +22.7% a year, volatility 27.7%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%EPD: +16.4% a year, volatility 17.1%ING: +24.7% a year, volatility 31.1%IMO: +34.3% a year, volatility 32.0%BP: +16.0% a year, volatility 28.7%COR: +24.2% a year, volatility 22.8%MFC: +22.6% a year, volatility 24.0%GWW: +26.3% a year, volatility 24.9%EQNR: +19.2% a year, volatility 34.4%HLT: +21.0% a year, volatility 26.8%MNST: +17.2% a year, volatility 24.9%KMI: +18.7% a year, volatility 22.5%CTAS: +16.5% a year, volatility 23.1%AFL: +19.0% a year, volatility 20.8%JCI: +17.4% a year, volatility 29.1%WAB: +25.6% a year, volatility 26.2%ROST: +18.1% a year, volatility 29.5%LNG: +23.4% a year, volatility 30.2%ESLT: +39.8% a year, volatility 34.6%CCEP: +19.7% a year, volatility 23.2%ALL: +17.0% a year, volatility 26.2%XLE: +22.6% a year, volatility 25.5%BKR: +19.7% a year, volatility 34.6%BAP: +30.8% a year, volatility 30.3%KB: +25.3% a year, volatility 34.4%NWG: +27.7% a year, volatility 34.1%CBOE: +21.5% a year, volatility 25.1%IX: +17.9% a year, volatility 25.4%SDCI: +20.6% a year, volatility 18.4%HEI: +17.3% a year, volatility 27.8%GLD: +17.7% a year, volatility 18.9%NTAP: +20.9% a year, volatility 35.3%CIB: +32.9% a year, volatility 32.9%TS: +24.3% a year, volatility 33.3%KOF: +22.3% a year, volatility 24.7%SHG: +21.0% a year, volatility 31.1%WRB: +18.9% a year, volatility 22.9%IHG: +21.4% a year, volatility 26.6%PAA: +27.0% a year, volatility 25.6%SPMO: +18.7% a year, volatility 20.8%RS: +24.8% a year, volatility 28.1%BCH: +25.2% a year, volatility 28.2%USFD: +22.7% a year, volatility 29.8%PVAL: +16.1% a year, volatility 15.1%UTHR: +23.6% a year, volatility 35.1%UNM: +30.6% a year, volatility 29.3%NMR: +17.1% a year, volatility 29.9%WES: +23.5% a year, volatility 27.6%WF: +26.3% a year, volatility 31.6%CDNS: +14.8% a year, volatility 37.2%SPY (S&P 500): +12.7% a year, volatility 17.1%TSM: +31.5% a year, volatility 38.5%SMH: +33.4% a year, volatility 36.9%NVDA: +58.0% a year, volatility 51.9%ADI: +19.5% a year, volatility 34.1%FFIV: +17.1% a year, volatility 30.8%PANW: +31.9% a year, volatility 43.4%ASML: +17.4% a year, volatility 43.4%ASX: +48.8% a year, volatility 43.0%CIBR: +14.1% a year, volatility 26.1%WMT: +20.8% a year, volatility 22.6%NVS: +17.1% a year, volatility 20.7%AMGN: +19.6% a year, volatility 24.9%RY: +17.3% a year, volatility 18.2%MPC: +51.2% a year, volatility 33.4%DXJ: +26.6% a year, volatility 19.1%PBR-A: +51.8% a year, volatility 37.5%FFLC: +15.7% a year, volatility 16.8%CAH: +42.1% a year, volatility 24.7%CDNSSPY (S&P 500)TSMSMHNVDAADIFFIVPANWASMLASXWMTNVSAMGNRYMPCDXJCAH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than CDNS?

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

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

Screen the whole market against CDNS for any period in BetterThanSPYOpen these 18 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 CDNS?lower diversifies moreExpenseper year
CDNSCadence Design Systems, Inc. · this page
+14.8%37.2%0.56−34.2%+1,139%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.590.09%
Popular alternativesbest 3 shownThe investments people most often weigh against CDNS. 3 of 9 passed at least one test.
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Higher return, similar volatilityHigher return in most periods+31.5%38.5%0.91−56.6%+1,505%0.52—
SMHVanEck Semiconductor ETF · Semiconductors
Higher return, similar volatilityHigher return in most periods+33.4%36.9%0.97−45.3%+1,665%0.640.35%
NVDANVIDIA Corporation · Semiconductors
Higher return in most periods+58.0%51.9%1.14−66.3%+13,019%0.58—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Software and the categories next to it (Application Software, Enterprise Software, Payment Processing, Semiconductors), plus CDNS's specific themes. 15 of 124 passed at least one test.
ADIAnalog Devices, Inc. · Semiconductors
Higher return, lower volatilityHigher return in most periods+19.5%34.1%0.69−33.6%+652%0.33—
FFIVF5, Inc. · Cybersecurity
Higher return, lower volatilityHigher return in most periods+17.1%30.8%0.67−54.6%+287%0.46—
PANWPalo Alto Networks, Inc. · Cybersecurity
Higher return in most periods+31.9%43.4%0.86−48.0%+1,274%0.34—
ASMLASML Holding N.V. · Semiconductor Equipment
Higher return in most periods+17.4%43.4%0.59−56.9%+1,628%0.43—
ASXASE Technology Holding Co., Ltd. · Semiconductors
Higher return in most periods+48.8%43.0%1.15−52.5%+967%0.42—
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Similar return, lower volatility+14.1%26.1%0.64−33.9%+454%0.470.58%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 559 of 3,500 passed at least one test.
WMTWalmart Inc. · Discount Retail
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+20.8%22.6%0.96−25.7%+508%0.22—
NVSNovartis AG · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.1%20.7%0.87−26.8%+226%0.01—
AMGNAmgen Inc. · Biotechnology
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+19.6%24.9%0.85−24.9%+266%-0.12—
RYRoyal Bank of Canada · Banks
On the frontierHigher return, lower volatilityHigher return in most periods+17.3%18.2%0.97−40.0%+352%0.20—
MPCMarathon Petroleum Corporation · Oil & Gas
On the frontierHigher return, lower volatilityHigher return in most periods+51.2%33.4%1.41−79.7%+1,387%-0.07—
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return, lower volatilityHigher return in most periods+26.6%19.1%1.34−39.1%+428%0.340.48%
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
On the frontierHigher return, similar volatilityHigher return in most periods+51.8%37.5%1.31−71.7%+768%-0.09—
FFLCFidelity Fundamental Large Cap Core ETF · Broad Market
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+15.7%16.8%0.95−19.7%—0.470.38%
What these numbers mean for CDNS
Annual return
CDNS returned 14.8% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $20,000. 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
CDNS's volatility over the past 5 years was 37.2%, 2.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, CDNS's return lands within 37.2% 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
CDNS's Sharpe ratio over the past 5 years was 0.56, against 0.79 for the S&P 500, so CDNS 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
CDNS's worst fall from a peak to a low over the past 10 years was 34.2%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 34.2% fall takes a 52.0% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, CDNS's monthly returns had a correlation of 0.59 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 CDNS instead: the lower it is, the more that option would diversify a CDNS holding. Guide: Correlation and diversification →
Show all 285 stocks and funds worth at least $500 million that earned more than CDNS with less volatility

Out of 3,633 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 CDNSExpense
1
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.22—
2
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.01—
3
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%-0.12—
4
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.20—
5
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%-0.07—
6
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.05—
7
ACTEnact Holdings Inc. · Insurance
Whole market+20.5%24.3%0.89−20.2%—-0.02—
8
AAPLApple Inc. · Computer Hardware
Whole market+18.5%28.0%0.75−38.5%+1,168%0.37—
9
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.08—
10
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.20—
11
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.1%26.5%1.04−61.0%+214%-0.28—
12
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+537%0.20—
13
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%-0.09—
14
HSBCHSBC Holdings plc · Banks
Whole market+33.1%25.9%1.24−62.3%+319%0.00—
15
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.340.48%
16
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.060.40%
17
CVXChevron Corporation · Integrated Oil & Gas
Whole market+19.5%25.2%0.84−55.8%+238%-0.17—
18
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.37—
19
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.2%29.4%1.13−54.9%+483%-0.01—
20
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%-0.24—
21
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.35—
22
SHELShell plc · Integrated Oil & Gas
Whole market+21.0%24.8%0.90−67.2%+233%-0.32—
23
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%-0.01—
24
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%-0.04—
25
APHAmphenol Corporation · Electronic Components
Whole market+33.8%32.2%1.07−37.5%+965%0.53—
26
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.20—
27
RTXRTX Corporation · Aerospace & Defense
Whole market+18.6%24.3%0.83−52.0%+317%-0.20—
28
SANBanco Santander, S.A. · Banks
Whole market+31.7%33.9%0.99−73.8%+332%-0.05—
29
BBVABanco Bilbao Vizcaya Argentaria, S.A. · Banks
Whole market+38.7%33.3%1.16−69.6%+542%0.00—
30
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%-0.24—
31
MFGMizuho Financial Group, Inc. · Banks
Whole market+33.6%30.6%1.10−45.7%+345%0.04—
32
TTETotalEnergies SE · Integrated Oil & Gas
Whole market+18.0%25.8%0.78−59.6%+234%-0.33—
33
PSXPhillips 66 · Oil & Gas
Whole market+33.2%32.9%1.04−64.2%+430%-0.17—
34
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.690.09%
35
UBSUBS Group AG · Banks
Whole market+25.4%30.4%0.90−59.8%+374%0.34—
36
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+33.7%29.4%1.14−47.6%+474%0.02—
37
PHParker-Hannifin Corporation · Industrial Machinery
Whole market+27.4%28.8%0.99−54.7%+789%0.24—
38
BHPBHP Group Limited · Metals & Mining
Whole market+16.6%31.4%0.65−44.3%+398%0.23—
39
BTIBritish American Tobacco p.l.c. · Tobacco
Whole market+18.7%22.0%0.90−56.1%+98.2%-0.10—
40
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%-0.04—
41
VRTXVertex Pharmaceuticals Incorporated · Biotechnology
Whole market+22.6%29.1%0.85−41.6%+521%0.06—
42
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%-0.02—
43
SUSuncor Energy Inc. · Integrated Oil & Gas
Whole market+33.1%32.5%1.05−73.5%+295%-0.21—
44
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.08—
45
CNQCanadian Natural Resources Limited · Oil & Gas
Whole market+26.5%32.5%0.89−77.5%+433%-0.12—
46
BNYBank of New York Mellon Corp · Banks
Whole market+22.7%24.4%0.97−50.5%+341%0.25—
47
CMCanadian Imperial Bank of Commerce · Banks
Whole market+19.2%21.6%0.93−47.3%+395%0.30—
48
ITUBItaú Unibanco Holding S.A. · Banks
Whole market+26.3%33.8%0.86−62.1%+190%-0.10—
49
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%-0.13—
50
TTTrane Technologies plc · Building Products
Whole market+22.7%27.7%0.88−40.5%+955%0.43—
51
MARMarriott International, Inc. · Hotels & Resorts
Whole market+22.0%28.6%0.84−61.3%+544%0.35—
52
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.0%25.6%0.94−61.4%+278%-0.19—
53
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Whole market+16.4%17.1%0.98−58.1%+178%0.07—
54
INGING Groep N.V. · Banks
Whole market+24.7%31.1%0.87−74.4%+339%0.09—
55
IMOImperial Oil Limited · Integrated Oil & Gas
Whole market+34.3%32.0%1.09−77.1%+430%-0.15—
56
BPBP p.l.c. · Integrated Oil & Gas
Whole market+16.0%28.7%0.66−63.9%+141%-0.31—
57
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.05—
58
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.18—
59
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.41—
60
EQNREquinor ASA · Integrated Oil & Gas
Whole market+19.2%34.4%0.69−66.8%+416%-0.16—
61
HLTHilton Worldwide Holdings Inc. · Hotels & Resorts
Whole market+21.0%26.8%0.85−50.8%+694%0.35—
62
MNSTMonster Beverage Corporation · Food & Beverages
Whole market+17.2%24.9%0.77−30.4%+285%0.20—
63
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Whole market+18.7%22.5%0.88−55.1%+163%0.01—
64
CTASCintas Corporation · Business Services
Whole market+16.5%23.1%0.78−48.4%+808%0.35—
65
AFLAflac Incorporated · Life Insurance
Whole market+19.0%20.8%0.95−54.9%+335%-0.01—
66
JCIJohnson Controls International plc · Building Products
Whole market+17.4%29.1%0.70−46.4%+426%0.21—
67
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Whole market+25.6%26.2%1.00−64.1%+264%0.20—
68
ROSTRoss Stores, Inc. · Specialty Retail
Whole market+18.1%29.5%0.71−51.4%+312%0.30—
69
LNGCheniere Energy, Inc. · Oil & Gas
Whole market+23.4%30.2%0.85−57.5%+616%-0.08—
70
ESLTElbit Systems Ltd. · Aerospace & Defense
Whole market+39.8%34.6%1.15−35.4%+765%0.06—
71
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Whole market+19.7%23.2%0.90−48.8%+292%0.12—
72
ALLThe Allstate Corporation · Property & Casualty Insurance
Whole market+17.0%26.2%0.73−41.4%+356%-0.09—
73
XLEState Street Energy Select Sector SPDR ETF · Energy Equity
Whole market+22.6%25.5%0.93−66.8%+189%-0.190.08%
74
BKRBaker Hughes Company · Oilfield Services
Whole market+19.7%34.6%0.70−73.5%+248%-0.04—
75
BAPCredicorp Ltd. · Banks
Whole market+30.8%30.3%1.04−59.2%+298%0.09—
76
KBKB Financial Group Inc. · Banks
Whole market+25.3%34.4%0.83−64.1%+390%0.13—
77
NWGNatWest Group plc · Banks
Whole market+27.7%34.1%0.89−67.4%+495%0.08—
78
CBOECboe Global Markets, Inc. · Capital Markets
Whole market+21.5%25.1%0.91−43.2%+463%0.13—
79
IXORIX Corporation · Diversified Financials
Whole market+17.9%25.4%0.78−42.5%+284%0.28—
80
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—-0.160.80%
81
HEIHEICO Corporation · Aerospace & Defense
Whole market+17.3%27.8%0.71−57.7%+809%0.26—
82
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.020.40%
83
NTAPNetApp, Inc. · Computer Hardware
Whole market+20.9%35.3%0.71−58.1%+691%0.39—
84
CIBGrupo Cibest S.A. · Banks
Whole market+32.9%32.9%1.03−70.4%+345%-0.17—
85
TSTenaris S.A. · Oilfield Services
Whole market+24.3%33.3%0.82−75.1%+181%-0.02—
86
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.3%24.7%0.94−55.1%+119%0.05—
87
SHGShinhan Financial Group Co., Ltd. · Banks
Whole market+21.0%31.1%0.77−64.1%+175%0.13—
88
WRBW. R. Berkley Corporation · Property & Casualty Insurance
Whole market+18.9%22.9%0.87−45.3%+443%-0.05—
89
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.4%26.6%0.86−59.3%+383%0.38—
90
PAAPlains All American Pipeline, L.P. · Oil & Gas Midstream
Whole market+27.0%25.6%1.06−87.9%+64.0%-0.01—
91
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%0.520.13%
92
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.93−40.8%+626%0.25—
93
BCHBanco de Chile · Banks
Whole market+25.2%28.2%0.94−58.4%+180%-0.20—
94
USFDUS Foods Holding Corp. · Food Distribution
Whole market+22.7%29.8%0.84−77.3%+347%0.18—
95
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Whole market+16.1%15.1%1.07−41.3%—0.340.56%
96
UTHRUnited Therapeutics Corporation · Biotechnology
Whole market+23.6%35.1%0.78−55.6%+390%0.01—
97
UNMUnum Group · Life Insurance
Whole market+30.6%29.3%1.06−81.0%+256%-0.17—
98
NMRNomura Holdings, Inc. · Capital Markets
Whole market+17.1%29.9%0.68−54.0%+179%0.12—
99
WESWestern Midstream Partners, LP · Oil & Gas Midstream
Whole market+23.5%27.6%0.91−91.9%+128%0.10—
100
WFWoori Financial Group Inc. · Banks
Whole market+26.3%31.6%0.90−67.2%+282%0.14—

CDNS against its popular alternatives

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

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

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

15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%55.0%−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 volatilityCDNS: 14.8% a year, volatility 37.2%SPY (S&P 500): 12.7% a year, volatility 17.1%SMH: 33.4% a year, volatility 36.9%SNPS: 7.2% a year, volatility 42.3%NVDA: 58.0% a year, volatility 51.9%TSM: 31.5% a year, volatility 38.5%PTC: 8.3% a year, volatility 35.0%KEYS: 13.9% a year, volatility 34.5%DSGX: 1.8% a year, volatility 31.8%BSY: −7.5% a year, volatility 37.1%ADSK: −3.8% a year, volatility 36.4%CDNSSPY (S&P 500)SMHSNPSNVDATSMPTCKEYSDSGXBSYADSK10.0%20.0%30.0%40.0%50.0%60.0%−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 volatilityCDNS: 14.8% a year, volatility 37.2%SPY (S&P 500): 12.7% a year, volatility 17.1%SMH: 33.4% a year, volatility 36.9%SNPS: 7.2% a year, volatility 42.3%NVDA: 58.0% a year, volatility 51.9%TSM: 31.5% a year, volatility 38.5%PTC: 8.3% a year, volatility 35.0%KEYS: 13.9% a year, volatility 34.5%DSGX: 1.8% a year, volatility 31.8%BSY: −7.5% a year, volatility 37.1%ADSK: −3.8% a year, volatility 36.4%CDNSSPY (S&P 500)SMHSNPSNVDATSMPTCDSGXBSYADSK
All figures
InvestmentAnnual returnVolatility
NVDA NVIDIA Corporation+58.0%51.9%
SMH VanEck Semiconductor ETF+33.4%36.9%
TSM Taiwan Semiconductor Manufacturing Company Limited+31.5%38.5%
CDNS This pageCadence Design Systems, Inc.+14.8%37.2%
KEYS Keysight Technologies, Inc.+13.9%34.5%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
PTC PTC Inc.+8.3%35.0%
SNPS Synopsys, Inc.+7.2%42.3%
DSGX The Descartes Systems Group Inc.+1.8%31.8%
ADSK Autodesk, Inc.−3.8%36.4%
BSY Bentley Systems, Incorporated−7.5%37.1%
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Has CDNS consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than CDNS 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
CDNS Cadence Design Systems, Inc. (this page)—+8.5%−3.0%+0.4%+3.1%−3.0%+34.0%+99.8%+1,139%37.2%0.56−34.2%—$88B—
NVDA QualifiedNVIDIA Corporation4/5 short3/3 longAll-weather−4.8%+6.6%+7.4%+14.9%+18.8%+425%+884%+13,019%51.9%1.14−66.3%—$5.2T—
SMH QualifiedVanEck Semiconductor ETF4/5 short3/3 longAll-weather−8.3%−2.2%+17.8%+46.4%+57.8%+290%+323%+1,665%36.9%0.97−45.3%0.35%$66B—
TSM QualifiedTaiwan Semiconductor Manufacturing Company Limited4/5 short3/3 longAll-weather−4.5%+5.9%+16.6%+34.0%+44.3%+382%+293%+1,505%38.5%0.91−56.6%—$2.2T—
PTC Software - ApplicationPTC Inc.4/5 short1/3 long+42.9%+54.9%+37.4%+13.7%−6.1%+40.4%+49.3%+317%35.0%0.40−54.4%—$21B—
KEYS Hardware, Equipment & PartsKeysight Technologies, Inc.3/5 short1/3 long−2.3%+6.4%−0.3%+61.8%+103%+172%+91.9%+923%34.5%0.55−42.6%—$57B—
ARM SemiconductorsArm Holdings plc American Depositary Shares3/5 short1/3 long−31.5%−18.0%+26.2%+92.7%+28.9%+362%————−54.0%—$236B—
DSGX Software - ApplicationThe Descartes Systems Group Inc.4/5 short0/3 long+13.7%+22.5%+17.3%+6.0%−5.9%+24.5%+9.2%+324%31.8%0.21−48.7%—$7.7B—
SNPS Software - InfrastructureSynopsys, Inc.3/5 short0/3 long+11.4%+18.3%−2.9%−6.8%−1.3%−4.3%+41.9%+656%42.3%0.39−43.0%—$86B—
BSY Software - ApplicationBentley Systems, Incorporated3/5 short0/3 long+19.6%+18.1%+8.8%+0.6%−25.6%−22.4%−32.4%—37.1%-0.03−61.0%—$11B—
ADSK Software - ApplicationAutodesk, Inc.2/5 short0/3 long+12.2%+12.8%+0.1%−14.4%−20.3%+21.2%−17.8%+245%36.4%0.07−52.0%—$51B—
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How did CDNS do year by year?

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

InvestmentYears ahead of CDNS20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
CDNS This pageCadence Design Systems, Inc.—+4.0%+10.3%+69.5%−13.8%+36.6%+96.7%+59.5%+4.0%+65.8%+21.2%+9.7%+35.3%+3.8%+29.9%+25.9%+37.9%+63.7%−78.5%−5.0%+5.9%+22.5%−23.2%+52.5%−46.2%−20.3%+14.6%−19.3%+21.4%+24.1%
Rank among alternativesTop quarter in 11 of 285 of 117 of 113 of 103 of 106 of 102 of 97 of 94 of 92 of 98 of 93 of 91 of 88 of 82 of 81 of 82 of 83 of 88 of 88 of 86 of 84 of 86 of 86 of 83 of 86 of 82 of 74 of 52 of 5—
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%
NVDA NVIDIA Corporation18 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%———
SMH VanEck Semiconductor ETF12 of 25+49.2%+39.1%+73.4%−33.5%+42.1%+55.5%+64.5%−9.1%+38.5%+35.6%−0.3%+30.2%+33.4%+8.6%+6.8%+19.0%+60.5%−44.7%+6.0%−6.7%+10.8%−19.3%+87.3%−47.0%−14.6%————
TSM Taiwan Semiconductor Manufacturing Company Limited14 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%—
PTC PTC Inc.10 of 29−5.3%+5.1%+45.8%−0.9%+1.3%+59.7%−9.7%+36.4%+31.3%+33.6%−5.5%+3.6%+57.2%+23.3%−18.9%+37.9%+29.2%−29.1%−0.9%+18.2%+3.6%+49.4%+56.4%−67.7%−41.9%−50.3%+66.6%−31.4%−7.8%
KEYS Keysight Technologies, Inc.5 of 11+26.5%+1.0%−7.0%−17.2%+56.3%+28.7%+65.3%+49.2%+13.8%+29.1%−16.1%——————————————————
ARM Arm Holdings plc American Depositary Shares1 of 2−11.4%+64.1%———————————————————————————
DSGX The Descartes Systems Group Inc.10 of 26−22.8%+35.1%+20.7%−15.8%+41.4%+36.9%+61.5%−6.8%+32.7%+6.6%+35.5%+10.7%+44.0%+29.9%+1.7%+18.7%+98.3%−28.8%+13.8%+17.5%+57.0%−29.1%−9.0%−58.4%−69.0%+11.6%———
SNPS Synopsys, Inc.11 of 29−3.2%−5.7%+61.3%−13.4%+42.1%+86.2%+65.2%−1.2%+44.8%+29.0%+4.9%+7.1%+27.4%+17.1%+1.1%+20.8%+20.3%−28.6%−3.0%+33.3%+2.6%−42.3%+46.7%−21.9%+24.5%−28.9%+23.0%+51.7%−22.7%
BSY Bentley Systems, Incorporated0 of 5−17.8%−10.1%+41.8%−23.3%+19.6%————————————————————————
ADSK Autodesk, Inc.11 of 29+0.1%+21.4%+30.3%−33.5%−7.9%+66.4%+42.6%+22.7%+41.6%+21.5%+1.5%+19.4%+42.4%+16.6%−20.6%+50.3%+29.3%−60.5%+23.0%−5.8%+13.2%+210%+73.0%−22.5%+39.5%−19.5%−20.3%+16.3%+33.0%
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Risk and diversification

How CDNS 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 CDNS's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents CDNS's five deepest drawdowns since it began trading in 1987, 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 CDNS fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringCDNS fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−93.1%−8.3%Apr 1998Dec 200810.7 yearsAug 20178.7 years
No named crash−75.4%—Mar 1991Apr 19932.1 yearsJun 19952.2 years
No named crash−66.4%—Oct 1987Dec 19872 monthsJan 198913 months
No named crash−51.0%—May 1990Oct 19905 monthsFeb 19914 months
No named crash−47.4%−6.3%Jun 1996Jul 19961 monthJan 19976 months

How did CDNS do in stock market crashes?

This section measures how far CDNS, 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 CDNS.

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
CDNS This pageCadence Design Systems, Inc.—−1.8%−24.3%−32.1%−14.1%−10.4%−19.3%−21.4%−4.6%−88.2%−72.3%
SPY S&P 500State Street SPDR S&P 500 ETF6 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
NVDA NVIDIA Corporation3 of 10−5.0%−60.7%−37.5%−55.9%−8.5%−25.3%−23.8%−1.7%−85.1%−89.7%
SMH VanEck Semiconductor ETF5 of 9−3.6%−44.1%−33.6%−23.5%−7.4%−17.9%−18.6%−1.5%−59.2%—
TSM Taiwan Semiconductor Manufacturing Company Limited6 of 10−3.9%−54.3%−23.3%−21.4%−9.3%−13.2%−15.7%0.0%−48.0%−82.4%
PTC PTC Inc.4 of 10−4.3%−20.4%−45.3%−27.8%−4.9%−24.9%−33.9%−3.0%−66.1%−94.5%
KEYS Keysight Technologies, Inc.2 of 6−2.6%−33.8%−17.7%−18.0%−6.7%−37.2%————
DSGX The Descartes Systems Group Inc.4 of 10−2.4%−27.9%−37.0%−28.0%−8.4%−24.7%−19.9%0.0%−55.6%−97.7%
SNPS Synopsys, Inc.5 of 10−3.7%−29.3%−34.3%−20.3%−8.4%−22.8%−13.7%−1.9%−49.1%−48.0%
BSY Bentley Systems, Incorporated0 of 2−4.3%−39.8%————————
ADSK Autodesk, Inc.4 of 10−5.1%−40.9%−35.5%−24.2%−6.9%−34.7%−36.9%−1.6%−76.9%−63.6%
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How closely does CDNS 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 CDNS 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 CDNS's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
CDNS This pageCadence Design Systems, Inc.132%83%1.581.09
TSM Taiwan Semiconductor Manufacturing Company Limited138%75%1.841.15
NVDA NVIDIA Corporation248%140%1.771.83
KEYS Keysight Technologies, Inc.121%71%1.701.08
SMH VanEck Semiconductor ETF159%108%1.471.46
SNPS Synopsys, Inc.124%108%1.161.17
DSGX The Descartes Systems Group Inc.86%79%1.090.86
PTC PTC Inc.105%127%0.831.12
ADSK Autodesk, Inc.130%179%0.731.34
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What diversifies CDNS?

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

ETFs

InvestmentCorrelation5Y returnSharpe202220082007200420022001199980/20 mix volatility80/20 mix annual return
CDNS Cadence Design Systems, Inc. (this page)1.00+99.8%0.56−13.8%−78.5%−5.0%−23.2%−46.2%−20.3%−19.3%30.1%+16.9%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.06+119%1.48+3.8%——————24.3%+17.7%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.34+225%1.34+6.0%−20.8%−7.4%————25.1%+19.6%
PJUL Broad MarketInnovator U.S. Equity Power Buffer ETF0.48+64.4%1.20−2.1%——————24.9%+16.3%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.21+101%1.04+10.4%——————24.9%+17.4%
HDV Dividend & IncomeiShares Core High Dividend ETF0.00+83.3%1.00+7.1%——————24.3%+16.9%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.40+85.0%0.96−5.1%——————25.0%+16.9%
GLD CommoditiesSPDR Gold Shares0.02+126%0.96−0.8%+4.9%+30.4%————24.4%+18.2%
XLE EnergyState Street Energy Select Sector SPDR ETF-0.19+177%0.93+64.4%−39.0%+36.8%+33.8%−14.8%−18.2%+18.1%23.6%+19.8%

Stocks

InvestmentCorrelation5Y returnSharpe202220082007200420022001199980/20 mix volatility80/20 mix annual return
CDNS Cadence Design Systems, Inc. (this page)1.00+99.8%0.56−13.8%−78.5%−5.0%−23.2%−46.2%−20.3%−19.3%30.1%+16.9%
CAH Medical - DistributionCardinal Health, Inc.0.05+479%1.55+54.1%−39.6%−9.8%−4.7%−8.3%−2.5%−36.8%24.9%+22.2%
CLS Hardware, Equipment & PartsCelestica Inc.0.29+3,143%1.47+1.3%−20.5%−25.7%−6.4%−65.1%−25.6%+350%29.7%+34.7%
MCK Medical - DistributionMcKesson Corporation-0.01+413%1.44+51.8%−40.4%+29.7%−1.4%−27.2%+4.9%−71.3%24.5%+21.6%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation-0.07+690%1.41+86.6%——————24.5%+24.6%
HWM Aerospace & DefenseHowmet Aerospace Inc.0.16+594%1.36+24.2%−67.4%+26.4%−14.1%−33.1%+9.8%+133%26.1%+24.4%
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Common questions

What was CDNS's worst drawdown?

CDNS's deepest decline since it began trading in 1987 was 93.1%, from April 1998 to December 2008. It took about nine years from the low to climb back to its old high.

What were CDNS's best and worst years?

Over 29 full calendar years, CDNS's best year was 2020, when it returned 96.7%. Its worst was 2008, with a return of -78.5%.

Is there a better investment than CDNS?

Among CDNS's popular alternatives, TSM and SMH earned more than CDNS over the past 5 years with similar volatility: TSM returned 31.5% a year at 38.5% volatility, against 14.8% a year at 37.2%. Looking beyond its popular alternatives, ADI (semiconductors) and FFIV (cybersecurity) earned more than CDNS with less volatility over the past 5 years. ADI returned 19.5% a year at 34.1% volatility, against 14.8% a year at 37.2%.

Is CDNS more volatile than the S&P 500?

Yes. CDNS's volatility over the past 5 years was 37.2%, 2.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, CDNS's return lands within 37.2% 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 CDNS's Sharpe ratio?

CDNS's Sharpe ratio over the past 5 years was 0.56, against 0.79 for the S&P 500, so CDNS 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 CDNS with the S&P 500?

Over the past 5 years, CDNS's monthly returns had a correlation of 0.59 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 CDNS instead: the lower it is, the more that option would diversify a CDNS holding.

What are the best alternatives to CDNS?

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

Did CDNS outperform the S&P 500?

CDNS finished ahead of the S&P 500 (SPY) in 17 of 29 full calendar years. In 2025, it returned +4.0%, against +17.7% for the index.

How did CDNS do in stock market crashes?

CDNS fell less than the S&P 500 (SPY) in three of the ten major crashes it has traded through, and further in six. The clearest case was the 2008 financial crisis, when CDNS fell 88.2% and the S&P 500 fell 55.2%.

What diversifies CDNS?

These had a low correlation with CDNS over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.06), DXJ (correlation 0.34) and PJUL (correlation 0.48); among large stocks, CAH (correlation 0.05), CLS (correlation 0.29) and MCK (correlation -0.01). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to CDNS

Other stocks and ETFs