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Relative Intelligence · Computer Hardware

How Dell Technologies (DELL) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on DELL alone. It places DELL (Dell Technologies Inc.) against 17 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 DELL stands in the market, and of the alternatives worth a closer look.

Period covered: DELL's full trading record, from August 2016 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

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

Rank the market against DELL →Chart DELL vs. 17 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in DELL over the past 10 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of DELL over the same span and DELL'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: DELL began trading on August 17, 2016, so the chart cannot reach back to the dot-com bust, the 2008 financial crisis or three other sell-offs. It covers the most recent 10 years of DELL's record, starting at the end of September 2016.

Choose a period

From the end of September 2016 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. 9 of the 2,697 stocks and funds worth at least $500 million that traded the whole period ended ahead of DELL; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000$200,000$500,000$1M201620182020202220242026$10,000$100,000$1M2016201920222025
  • NVDA$1M+13,576% total · +63.5% a year
  • AMD$885,314+8,753% total · +56.6% a year
  • PAYS$748,914+7,389% total · +54.0% a year
  • MU$614,171+6,042% total · +50.9% a year
  • FIX$599,510+5,895% total · +50.6% a year
  • DELL$441,783+4,318% total · +46.1% a year
  • STX$346,866+3,369% total · +42.6% a year
  • WDC$116,171+1,062% total · +27.8% a year
  • MSFT$100,294+903% total · +25.9% a year
  • SPY (S&P 500)$41,286+313% total · +15.2% a year
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From the end of September 2021 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 17 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of DELL; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000$200,000202120222023202420252026$10,000$20,000$50,000$100,000$200,000202120222023202420252026
  • FIX$236,701+2,267% total · +88.3% a year
  • MU$153,675+1,437% total · +72.7% a year
  • STX$128,799+1,188% total · +66.7% a year
  • CRS$125,806+1,158% total · +65.9% a year
  • ATI$113,890+1,039% total · +62.7% a year
  • DELL$112,363+1,024% total · +62.2% a year
  • NVDA$110,811+1,008% total · +61.8% a year
  • WDC$107,081+971% total · +60.7% a year
  • AMD$59,452+495% total · +42.8% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
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DELL 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.

Note: DELL began trading on August 17, 2016, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust, the 2008 financial crisis or three other sell-offs.

The company

Market value
$294B
Industry
Computer Hardware
Price history from
August 2016

Returns

Past 1 year
+217%total return
Past 3 years
+636%+94.5% a year
Past 5 years
+800%+55.2% a year
Past 10 years
+3,701%+43.9% a year
Best calendar year
+95.9%2023
Worst calendar year
−26.6%2022
Losing years
1 of 9full calendar years

Risk

Volatility
54.4%typical yearly swing, 5 years
Sharpe ratio
1.08return per unit of risk, 5 years
Worst decline ever
−59.6%May 2024 to Apr 2025
From its all-time high
−21.4%below the peak

DELL against the whole market

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

How does DELL rank among all stocks?

This section ranks DELL 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 DELL 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.

MeasureDELLRankStanding
1-year return+217%31 of 3,287top 1%
3-year return+636%67 of 3,017top 2%
5-year return+800%28 of 2,893top 1%
10-year return+3,701%13 of 2,202top 1%
Volatility, 5 years54.4%2,094 of 2,893bottom 29%
Sharpe ratio, 5 years1.0859 of 2,893top 2%
Worst decline, past 10 years−59.6%862 of 2,187top 39%

What has beaten DELL 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). DELL sits where the dashed lines cross. Anything in the green box above and to the left earned more than DELL 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 DELL; faint dots are 2 more of the 7 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.

10.0%20.0%30.0%40.0%50.0%60.0%70.0%0.0%20.0%40.0%60.0%80.0%100%120%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than DELLVIST: +59.1% a year, volatility 50.7%BWLP: +60.3% a year, volatility 50.9%DELL: +55.2% a year, volatility 54.4%SPY (S&P 500): +12.7% a year, volatility 17.1%STX: +57.4% a year, volatility 48.7%MU: +68.1% a year, volatility 57.1%FIX: +77.0% a year, volatility 46.7%ATI: +61.8% a year, volatility 42.9%CRS: +63.9% a year, volatility 46.5%INSW: +56.5% a year, volatility 40.5%CLS: +101% a year, volatility 59.7%PAYS: +42.3% a year, volatility 67.2%DELLSPY (S&P 500)STXMUFIXATICRSINSWCLSPAYS0.0%20.0%40.0%60.0%80.0%0.0%20.0%40.0%60.0%80.0%100%120%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than DELLVIST: +59.1% a year, volatility 50.7%BWLP: +60.3% a year, volatility 50.9%DELL: +55.2% a year, volatility 54.4%SPY (S&P 500): +12.7% a year, volatility 17.1%STX: +57.4% a year, volatility 48.7%MU: +68.1% a year, volatility 57.1%FIX: +77.0% a year, volatility 46.7%ATI: +61.8% a year, volatility 42.9%CRS: +63.9% a year, volatility 46.5%INSW: +56.5% a year, volatility 40.5%CLS: +101% a year, volatility 59.7%PAYS: +42.3% a year, volatility 67.2%DELLSPY (S&P 500)STXMUFIXCRSINSWCLSPAYS
  • Popular alternatives
  • The whole market
  • Others in the green region

Is there a better investment than DELL?

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

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

Screen the whole market against DELL for any period in BetterThanSPYOpen these 9 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 DELL?lower diversifies moreExpenseper year
DELLDell Technologies Inc. · this page
+55.2%54.4%1.08−59.6%+3,701%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.370.09%
Popular alternativesbest 2 shownThe investments people most often weigh against DELL. 2 of 17 passed at least one test.
STXSeagate Technology Holdings plc · Computer Hardware
Higher return, lower volatility+57.4%48.7%1.18−57.0%+2,698%0.38—
MUMicron Technology, Inc. · Semiconductors
Higher return, similar volatility+68.1%57.1%1.20−57.6%+5,243%0.62—
The whole marketbest 6 shownEvery other stock and fund worth at least $500 million. 12 of 3,475 passed at least one test.
FIXComfort Systems USA, Inc. · Engineering & Construction
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst decline+77.0%46.7%1.46−49.7%+5,305%0.23—
ATIATI Inc. · Metals & Mining
On the frontierHigher return, lower volatility+61.8%42.9%1.34−82.4%+929%0.19—
CRSCarpenter Technology Corporation · Metals & Mining
On the frontierHigher return, lower volatility+63.9%46.5%1.30−74.7%+1,021%0.19—
INSWInternational Seaways, Inc. · Oil & Gas
On the frontierHigher return, lower volatility+56.5%40.5%1.31−57.4%—-0.03—
CLSCelestica Inc. · Electronics Manufacturing
On the frontierHigher return, similar volatility+101%59.7%1.47−80.6%+2,771%0.22—
PAYSPaysign, Inc. · Specialty Business Services
Higher return in most periods+42.3%67.2%0.86−93.1%+7,143%0.18—
What these numbers mean for DELL
Annual return
DELL returned 55.2% 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 $90,000. 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
DELL's volatility over the past 5 years was 54.4%, 3.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, DELL's return lands within 54.4% 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
DELL's Sharpe ratio over the past 5 years was 1.08, against 0.79 for the S&P 500, so DELL earned more 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
DELL's worst fall from a peak to a low over the past 10 years was 59.6%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 59.6% fall takes a 147% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, DELL's monthly returns had a correlation of 0.37 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against DELL instead: the lower it is, the more that option would diversify a DELL holding. Guide: Correlation and diversification →
Show all 7 stocks and funds worth at least $500 million that earned more than DELL with less volatility

Out of 3,633 tested over 5 years. Best first; funds that hold the same thing are listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with DELLExpense
1
FIXComfort Systems USA, Inc. · Engineering & Construction
Whole market+77.0%46.7%1.46−49.7%+5,305%0.23—
2
ATIATI Inc. · Metals & Mining
Whole market+61.8%42.9%1.34−82.4%+929%0.19—
3
CRSCarpenter Technology Corporation · Metals & Mining
Whole market+63.9%46.5%1.30−74.7%+1,021%0.19—
4
INSWInternational Seaways, Inc. · Oil & Gas
Whole market+56.5%40.5%1.31−57.4%—-0.03—
5
VISTVista Energy, S.A.B. de C.V. · Exploration & Production
Whole market+59.1%50.7%1.17−81.2%—0.07—
6
STXSeagate Technology Holdings plc · Computer Hardware
Popular alternative+57.4%48.7%1.18−57.0%+2,698%0.38—
7
BWLPBW LPG Limited · Marine Shipping
Whole market+60.3%50.9%1.19−68.8%+2,672%0.16—

DELL against its popular alternatives

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

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

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

10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%90.0%−20.0%0.0%20.0%40.0%60.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityDELL: 55.2% a year, volatility 54.4%SPY (S&P 500): 12.7% a year, volatility 17.1%NVDA: 58.0% a year, volatility 51.9%STX: 57.4% a year, volatility 48.7%AMD: 35.7% a year, volatility 57.6%CRSR: −12.3% a year, volatility 62.4%INTC: 12.4% a year, volatility 55.6%MU: 68.2% a year, volatility 57.1%WDC: 53.8% a year, volatility 53.5%MSFT: 12.5% a year, volatility 28.2%NTAP: 20.9% a year, volatility 35.3%HPE: 32.9% a year, volatility 42.2%HPQ: 5.7% a year, volatility 37.3%NTNX: 13.5% a year, volatility 49.2%SMCI: 55.8% a year, volatility 89.4%AAPL: 18.4% a year, volatility 28.0%LOGI: 5.7% a year, volatility 37.0%CSCO: 16.8% a year, volatility 26.1%IBM: 16.6% a year, volatility 30.5%DELLSPY (S&P 500)NVDAAMDCRSRINTCMUWDCMSFTNTAPHPEHPQNTNXSMCIAAPLLOGICSCO0.0%20.0%40.0%60.0%80.0%100%−20.0%0.0%20.0%40.0%60.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityDELL: 55.2% a year, volatility 54.4%SPY (S&P 500): 12.7% a year, volatility 17.1%NVDA: 58.0% a year, volatility 51.9%STX: 57.4% a year, volatility 48.7%AMD: 35.7% a year, volatility 57.6%CRSR: −12.3% a year, volatility 62.4%INTC: 12.4% a year, volatility 55.6%MU: 68.2% a year, volatility 57.1%WDC: 53.8% a year, volatility 53.5%MSFT: 12.5% a year, volatility 28.2%NTAP: 20.9% a year, volatility 35.3%HPE: 32.9% a year, volatility 42.2%HPQ: 5.7% a year, volatility 37.3%NTNX: 13.5% a year, volatility 49.2%SMCI: 55.8% a year, volatility 89.4%AAPL: 18.4% a year, volatility 28.0%LOGI: 5.7% a year, volatility 37.0%CSCO: 16.8% a year, volatility 26.1%IBM: 16.6% a year, volatility 30.5%DELLSPY (S&P 500)NVDAAMDCRSRINTCMUNTAPHPEHPQSMCIAAPLLOGI
All figures
InvestmentAnnual returnVolatility
MU Micron Technology, Inc.+68.2%57.1%
NVDA NVIDIA Corporation+58.0%51.9%
STX Seagate Technology Holdings plc+57.4%48.7%
SMCI Super Micro Computer, Inc.+55.8%89.4%
DELL This pageDell Technologies Inc.+55.2%54.4%
WDC Western Digital Corporation+53.8%53.5%
AMD Advanced Micro Devices, Inc.+35.7%57.6%
HPE Hewlett Packard Enterprise Company+32.9%42.2%
NTAP NetApp, Inc.+20.9%35.3%
AAPL Apple Inc.+18.4%28.0%
CSCO Cisco Systems, Inc.+16.8%26.1%
IBM International Business Machines Corporation+16.6%30.5%
NTNX Nutanix, Inc.+13.5%49.2%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
MSFT Microsoft Corporation+12.5%28.2%
INTC Intel Corp.+12.4%55.6%
LOGI Logitech International S.A.+5.7%37.0%
HPQ HP Inc.+5.7%37.3%
CRSR Corsair Gaming, Inc.−12.3%62.4%
Open these 19 in EasyCompare

Has DELL consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than DELL 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
DELL Dell Technologies Inc. (this page)—−19.6%+21.3%+127%+265%+217%+636%+800%+3,701%54.4%1.08−59.6%—$294B—
MU SemiconductorsMicron Technology, Inc.2/5 short3/3 long−14.2%+3.6%+99.9%+184%+334%+1,246%+1,244%+5,243%57.1%1.20−57.6%—$1.0T—
NVDA SemiconductorsNVIDIA Corporation1/5 short2/3 long−4.8%+6.6%+7.4%+14.9%+18.8%+425%+884%+13,019%51.9%1.14−66.3%—$5.2T—
STX Computer HardwareSeagate Technology Holdings plc0/5 short2/3 long−23.0%−15.8%+25.3%+136%+217%+975%+866%+2,698%48.7%1.18−57.0%—$154B—
AMD SemiconductorsAdvanced Micro Devices, Inc.1/5 short1/3 long−13.1%+6.2%+94.5%+139%+122%+425%+359%+7,583%57.6%0.82−65.5%—$873B—
WDC Computer HardwareWestern Digital Corporation1/5 short1/3 long−18.7%−25.2%−2.6%+94.3%+200%+1,030%+759%+911%53.5%1.07−70.5%—$136B—
MSFT Software - InfrastructureMicrosoft Corporation2/5 short0/3 long+6.0%+32.5%+27.7%+13.2%+3.8%+66.6%+80.3%+946%28.2%0.56−37.1%—$3.9T—
NTAP Computer HardwareNetApp, Inc.2/5 short0/3 long+6.2%+30.6%+97.7%+99.3%+81.9%+198%+159%+691%35.3%0.71−58.1%—$41B—
HPE Computer HardwareHewlett Packard Enterprise Company2/5 short0/3 long−9.1%+26.3%+103%+135%+150%+296%+315%+483%42.2%0.89−56.9%—$74B—
HPQ Computer HardwareHP Inc.2/5 short0/3 long−5.3%+30.1%+62.8%+46.5%+18.6%+35.8%+31.9%+207%37.3%0.33−51.2%—$28B—
NTNX Software - InfrastructureNutanix, Inc.2/5 short0/3 long−2.6%+23.8%+68.0%+34.8%−0.1%+90.0%+88.3%+139%49.2%0.50−80.4%—$18B—
CRSR Computer HardwareCorsair Gaming, Inc.2/5 short0/3 long−2.5%+39.5%+102%+119%+61.1%+1.5%−48.2%—62.4%0.09−91.1%—$1.4B—
SMCI Computer HardwareSuper Micro Computer, Inc.1/5 short0/3 long−21.2%+36.3%+12.7%+4.9%−41.0%+30.6%+817%+1,383%89.4%0.94−84.8%—$21B—
AAPL Consumer ElectronicsApple Inc.1/5 short0/3 long+0.2%+4.0%+24.6%+25.6%+29.9%+99.0%+133%+1,168%28.0%0.75−38.5%—$5.0T—
LOGI Computer HardwareLogitech International S.A.1/5 short0/3 long+5.6%+9.1%+11.0%+10.7%+0.8%+65.4%+32.1%+489%37.0%0.34−67.8%—$16B—
CSCO Communication EquipmentCisco Systems, Inc.1/5 short0/3 long−3.9%−3.2%+22.6%+42.2%+53.8%+118%+118%+374%26.1%0.73−42.0%—$421B—
IBM Information Technology ServicesInternational Business Machines Corporation1/5 short0/3 long+4.3%+14.4%−3.3%−15.3%−12.5%+93.5%+116%+151%30.5%0.66−41.1%—$228B—
INTC SemiconductorsIntel Corp.0/5 short0/3 long−24.7%−5.5%+39.6%+133%+141%+167%+79.8%+219%55.6%0.49−70.8%—$485B—
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How did DELL do year by year?

This table shows each investment's total return in every full calendar year since 2017, along with where DELL ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with DELL and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: DELL began trading on August 17, 2016, so the table starts with 2017, its first full calendar year, and cannot show how it fared during the dot-com bust, the 2008 financial crisis or three other sell-offs.

Newest year first. Green marks a year in which the fund came out ahead of DELL; gray means the two finished within a fraction of a point. The rank row places DELL among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of DELL202520242023202220212020201920182017
DELL This pageDell Technologies Inc.—+11.2%+53.0%+95.9%−26.6%+51.3%+42.6%+5.1%+8.6%+47.8%
Rank among alternativesTop quarter in 4 of 912 of 182 of 184 of 189 of 186 of 185 of 1715 of 176 of 175 of 17
SPY S&P 500State Street SPDR S&P 500 ETF3 of 9+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%
MU Micron Technology, Inc.3 of 9+240%−1.0%+71.9%−45.9%+24.2%+39.8%+69.5%−22.8%+87.6%
NVDA NVIDIA Corporation7 of 9+38.9%+171%+239%−50.2%+125%+122%+76.4%−30.8%+82.5%
STX Seagate Technology Holdings plc3 of 9+225%+4.1%+69.1%−51.4%+87.5%+10.2%+62.1%−2.9%+13.4%
AMD Advanced Micro Devices, Inc.6 of 9+77.3%−18.1%+128%−55.0%+56.9%+100.0%+148%+79.6%−9.3%
WDC Western Digital Corporation2 of 9+284%+13.9%+66.0%−51.6%+17.7%−10.9%+77.1%−51.9%+19.8%
MSFT Microsoft Corporation3 of 9+15.6%+12.9%+58.2%−28.0%+52.5%+42.5%+57.6%+20.8%+40.8%
NTAP NetApp, Inc.3 of 9−5.9%+34.2%+51.1%−32.9%+42.5%+10.9%+7.4%+9.7%+59.9%
HPE Hewlett Packard Enterprise Company3 of 9+15.5%+29.1%+9.7%+4.5%+37.4%−21.9%+23.7%−5.7%+8.6%
HPQ HP Inc.1 of 9−28.7%+12.2%+16.1%−26.4%+57.2%+24.3%+3.9%−0.2%+43.5%
NTNX Nutanix, Inc.2 of 9−15.5%+28.3%+83.1%−18.2%0.0%+1.9%−24.8%+17.9%+32.8%
CRSR Corsair Gaming, Inc.0 of 5−10.1%−53.1%+3.9%−35.4%−42.0%————
SMCI Super Micro Computer, Inc.3 of 9−4.0%+7.2%+246%+87.0%+38.5%+32.1%+73.9%−34.0%−25.6%
AAPL Apple Inc.2 of 9+9.0%+30.7%+49.0%−26.4%+34.6%+82.3%+89.0%−5.4%+48.5%
LOGI Logitech International S.A.4 of 9+23.4%−12.0%+55.2%−22.9%−14.3%+109%+53.5%−5.7%+38.1%
CSCO Cisco Systems, Inc.4 of 9+33.5%+21.0%+9.3%−22.5%+45.8%−3.5%+13.8%+16.6%+31.3%
IBM International Business Machines Corporation3 of 9+38.2%+39.3%+21.9%+10.6%+16.6%−1.2%+23.6%−22.6%−4.9%
INTC Intel Corp.2 of 9+84.0%−59.6%+94.5%−46.6%+6.0%−14.7%+30.7%+4.2%+30.9%
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Risk and diversification

How DELL 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 DELL's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents DELL's five deepest drawdowns since it began trading in 2016, 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.

Note: DELL began trading on August 17, 2016, so this list cannot include the dot-com bust, the 2008 financial crisis or three other sell-offs. The crash tests on this page show how older funds and the S&P 500 fared through those years.

Green means DELL fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringDELL fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
No named crash−59.6%−2.7%May 2024Apr 202511 monthsMar 202611 months
Covid crash−58.6%−15.4%May 2019Mar 202010 monthsOct 20207 months
2022 bear market−43.6%−21.2%Feb 2022Oct 20228 monthsSep 202311 months
Late-2018 sell-off−28.6%−11.8%Nov 2018Dec 20181 monthMar 20193 months
February 2018 volatility shock−26.4%−9.1%Jan 2018Feb 20181 monthJun 20184 months

How did DELL do in stock market crashes?

This section measures how far DELL, 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.

Note: DELL began trading on August 17, 2016, so its row reads "Not yet trading" for the dot-com bust, the 2008 financial crisis or three other sell-offs. The older alternatives and the S&P 500 show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than DELL.

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
DELL This pageDell Technologies Inc.—−5.7%−43.6%−45.9%−28.6%−7.4%Not yet tradingNot yet tradingNot yet tradingNot yet tradingNot yet trading
SPY S&P 500State Street SPDR S&P 500 ETF5 of 5−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
MU Micron Technology, Inc.1 of 5−5.3%−49.6%−42.5%−36.6%−8.8%−49.4%−46.5%−2.0%−84.2%−87.8%
NVDA NVIDIA Corporation2 of 5−5.0%−60.7%−37.5%−55.9%−8.5%−25.3%−23.8%−1.7%−85.1%−89.7%
STX Seagate Technology Holdings plc2 of 5−5.2%−54.0%−25.6%−25.4%−8.4%−48.9%−34.8%−0.5%−88.7%—
AMD Advanced Micro Devices, Inc.2 of 5−3.9%−60.1%−34.3%−48.9%−9.9%−40.0%−41.5%0.0%−87.6%−93.3%
WDC Western Digital Corporation1 of 5−6.8%−52.4%−58.0%−41.8%−6.0%−53.0%−35.4%−1.1%−75.2%−76.5%
MSFT Microsoft Corporation4 of 5−2.0%−31.0%−27.7%−18.2%−7.4%−14.4%−14.1%−2.6%−57.9%−62.9%
NTAP NetApp, Inc.2 of 5−5.4%−34.3%−34.2%−36.6%−7.3%−38.4%−34.2%−4.7%−67.6%−96.2%
HPE Hewlett Packard Enterprise Company3 of 5−7.2%−30.5%−45.3%−27.4%−9.6%—————
HPQ HP Inc.4 of 5−3.3%−37.9%−43.3%−26.1%−11.3%−37.8%−40.4%−3.2%−51.7%−82.9%
NTNX Nutanix, Inc.2 of 5−7.0%−55.9%−66.6%−22.6%−4.0%—————
CRSR Corsair Gaming, Inc.0 of 2−5.4%−52.3%————————
SMCI Super Micro Computer, Inc.2 of 5−12.8%−31.2%−42.6%−45.6%−9.7%−32.4%−22.7%0.0%−64.3%—
AAPL Apple Inc.4 of 5−2.9%−27.4%−30.7%−36.5%−4.8%−23.4%−12.5%−4.3%−60.9%−81.2%
LOGI Logitech International S.A.2 of 5−0.8%−48.3%−21.3%−35.9%−8.3%−14.3%−33.7%−3.0%−79.4%−59.0%
CSCO Cisco Systems, Inc.5 of 5−1.4%−35.4%−29.1%−17.5%−5.3%−22.8%−16.6%−3.1%−60.0%−89.3%
IBM International Business Machines Corporation4 of 5−2.0%−16.7%−37.3%−29.1%−6.3%−23.3%−14.6%−1.5%−44.3%−58.3%
INTC Intel Corp.4 of 5−1.0%−54.1%−33.5%−13.0%−6.7%−19.7%−16.2%−0.9%−55.2%−82.3%
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How closely does DELL 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 DELL 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 DELL's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
DELL This pageDell Technologies Inc.154%43%3.591.13
STX Seagate Technology Holdings plc169%88%1.931.58
MU Micron Technology, Inc.204%114%1.791.75
NVDA NVIDIA Corporation248%140%1.771.83
AAPL Apple Inc.137%94%1.461.15
AMD Advanced Micro Devices, Inc.254%179%1.422.25
MSFT Microsoft Corporation127%91%1.390.96
HPE Hewlett Packard Enterprise Company116%102%1.141.31
SMCI Super Micro Computer, Inc.189%168%1.121.74
CSCO Cisco Systems, Inc.101%96%1.060.97
WDC Western Digital Corporation171%163%1.051.87
LOGI Logitech International S.A.112%106%1.051.01
NTAP NetApp, Inc.147%147%1.001.38
INTC Intel Corp.98%100%0.981.43
HPQ HP Inc.106%137%0.771.11
NTNX Nutanix, Inc.68%91%0.751.20
IBM International Business Machines Corporation89%121%0.730.95
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What diversifies DELL?

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

ETFs

InvestmentCorrelation5Y returnSharpe202280/20 mix volatility80/20 mix annual return
DELL Dell Technologies Inc. (this page)1.00+800%1.08−26.6%58.1%+62.2%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.13+119%1.48+3.8%46.7%+54.5%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.40+225%1.34+6.0%47.5%+56.7%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.02+101%1.04+10.4%46.6%+54.3%
HDV Dividend & IncomeiShares Core High Dividend ETF0.05+83.3%1.00+7.1%46.7%+53.4%
SMH TechnologyVanEck Semiconductor ETF0.47+323%0.97−33.5%50.1%+59.1%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.34+85.0%0.96−5.1%47.3%+53.4%
GLD CommoditiesSPDR Gold Shares-0.13+126%0.96−0.8%46.2%+55.6%
XLE EnergyState Street Energy Select Sector SPDR ETF0.01+177%0.93+64.4%46.8%+56.8%

Stocks

InvestmentCorrelation5Y returnSharpe202280/20 mix volatility80/20 mix annual return
DELL Dell Technologies Inc. (this page)1.00+800%1.08−26.6%58.1%+62.2%
CAH Medical - DistributionCardinal Health, Inc.0.01+479%1.55+54.1%46.8%+60.5%
CLS Hardware, Equipment & PartsCelestica Inc.0.22+3,143%1.47+1.3%50.3%+75.6%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.23+1,636%1.46+17.0%49.3%+70.7%
MCK Medical - DistributionMcKesson Corporation-0.10+413%1.44+51.8%46.2%+59.8%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.15+690%1.41+86.6%47.8%+62.6%
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Common questions

What was DELL's worst drawdown?

DELL's deepest decline since it began trading in 2016 was 59.6%, from May 2024 to April 2025. It took 11 months from the low to climb back to its old high. Because DELL launched in August 2016, that record does not include the dot-com bust, the 2008 financial crisis or three other sell-offs.

What were DELL's best and worst years?

Over nine full calendar years, DELL's best year was 2023, when it returned 95.9%. Its worst was 2022, with a return of -26.6%.

Is there a better investment than DELL?

Among DELL's popular alternatives, STX earned more than DELL with less volatility over the past 5 years: 57.4% a year at 48.7% volatility, against 55.2% a year at 54.4%. Few investments have done better on both counts: only seven of the 3,633 stocks and funds worth at least $500 million earned more than DELL with less volatility over the past 5 years, among them STX, FIX and ATI.

Is DELL more volatile than the S&P 500?

Yes. DELL's volatility over the past 5 years was 54.4%, 3.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, DELL's return lands within 54.4% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is DELL's Sharpe ratio?

DELL's Sharpe ratio over the past 5 years was 1.08, against 0.79 for the S&P 500, so DELL earned more 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 DELL with the S&P 500?

Over the past 5 years, DELL's monthly returns had a correlation of 0.37 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against DELL instead: the lower it is, the more that option would diversify a DELL holding.

What are the best alternatives to DELL?

None of the 17 popular alternatives we compared outperformed DELL in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about DELL's strength than about its alternatives.

Did DELL outperform the S&P 500?

DELL finished ahead of the S&P 500 (SPY) in six of nine full calendar years. In 2025, it returned +11.2%, against +17.7% for the index.

How did DELL do in stock market crashes?

DELL fell less than the S&P 500 (SPY) in none of the five major crashes it has traded through, and further in five. The clearest case was the 2022 bear market, when DELL fell 43.6% and the S&P 500 fell 24.5%.

What diversifies DELL?

These had a low correlation with DELL over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.13), DXJ (correlation 0.40) and EMLP (correlation 0.02); among large stocks, CAH (correlation 0.01), CLS (correlation 0.22) and FIX (correlation 0.23). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to DELL