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Relative Intelligence · Life Sciences Tools

How Danaher (DHR) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on DHR alone. It places DHR (Danaher Corporation) against 19 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where DHR stands in the market, and of the alternatives worth a closer look.

Period covered: DHR's full trading record, from October 1986 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 DHR →Chart DHR vs. 19 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in DHR over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of DHR over the same span and DHR'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. 51 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of DHR; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M$10M199720022007201220172022$10,000$100,000$1M$10M19972004201120182025
  • MNST$46M+456,538% total · +33.7% a year
  • AAPL$21M+205,249% total · +30.1% a year
  • AMZN$11M+114,749% total · +27.5% a year
  • RGEN$2M+16,470% total · +19.3% a year
  • GILD$2M+15,614% total · +19.1% a year
  • DGX$784,474+7,745% total · +16.2% a year
  • DHR$777,394+7,674% total · +16.2% a year
  • TMO$235,386+2,254% total · +11.5% a year
  • RVTY$198,041+1,880% total · +10.8% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 2,847 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of DHR; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$5,000$10,000$15,000$20,000202120222023202420252026$0$5,000$10,000$15,000$20,000202120222023202420252026
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • DGX$17,761+77.6% total · +12.2% a year
  • LH$13,440+34.4% total · +6.1% a year
  • TMO$11,986+19.9% total · +3.7% a year
  • A$11,334+13.3% total · +2.5% a year
  • IQV$11,224+12.2% total · +2.3% a year
  • MTD$10,970+9.7% total · +1.9% a year
  • QGEN$9,482−5.2% total · −1.1% a year
  • RVTY$8,929−10.7% total · −2.2% a year
  • DHR$8,422−15.8% total · −3.4% a year
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DHR 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
$157B
Industry
Medical - Diagnostics & Research
Price history from
October 1986

Returns

Past 1 year
+8.3%total return
Past 3 years
+10.8%+3.5% a year
Past 5 years
−17.6%−3.8% a year
Past 10 years
+232%+12.7% a year
Best calendar year
+73.2%2016
Worst calendar year
−35.4%2008
Losing years
8 of 29full calendar years

Risk

Volatility
29.1%typical yearly swing, 5 years
Sharpe ratio
0.01return per unit of risk, 5 years
Worst decline ever
−60.9%Sep 1987 to Dec 1987
From its all-time high
−22.0%below the peak

DHR against the whole market

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

How does DHR rank among all stocks?

This section ranks DHR 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 DHR 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.

MeasureDHRRankStanding
1-year return+8.3%1,653 of 3,287top 50%
3-year return+10.8%2,146 of 3,017bottom 30%
5-year return−17.6%1,972 of 2,893bottom 33%
10-year return+232%767 of 2,202top 35%
Volatility, 5 years29.1%648 of 2,893top 22%
Sharpe ratio, 5 years0.012,317 of 2,893bottom 21%
Worst decline, past 10 years−43.8%253 of 2,187top 12%

What has beaten DHR 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). DHR sits where the dashed lines cross. Anything in the green box above and to the left earned more than DHR 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 DHR; faint dots are 88 more of the 1,360 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.

−5.0%0.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than DHRCME: +11.2% a year, volatility 20.8%FAST: +15.8% a year, volatility 24.6%KDP: +2.5% a year, volatility 22.1%EXPD: +12.0% a year, volatility 27.1%CIBR: +14.1% a year, volatility 26.1%JQUA: +13.6% a year, volatility 15.7%SJM: +4.8% a year, volatility 25.1%FLTW: +21.8% a year, volatility 24.3%SGOV: +3.8% a year, volatility 0.3%RSPT: +16.9% a year, volatility 25.1%IWX: +12.7% a year, volatility 13.8%DIVB: +13.9% a year, volatility 15.4%HACK: +12.6% a year, volatility 25.8%FHLC: +7.3% a year, volatility 15.4%FBT: +10.8% a year, volatility 22.2%FXL: +11.0% a year, volatility 26.2%JAAA: +5.1% a year, volatility 1.7%XOM: +27.1% a year, volatility 26.5%CVX: +19.5% a year, volatility 25.2%IHAK: +8.3% a year, volatility 25.0%MA: +12.4% a year, volatility 23.8%PM: +21.0% a year, volatility 23.4%VTI: +11.5% a year, volatility 17.5%CSCO: +16.8% a year, volatility 26.1%RSPH: +6.1% a year, volatility 16.8%SHEL: +21.0% a year, volatility 24.8%VOO: +12.8% a year, volatility 16.9%EBF: +11.2% a year, volatility 21.4%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%TD: +15.8% a year, volatility 20.0%SVOL: +7.6% a year, volatility 21.8%TTE: +18.0% a year, volatility 25.8%MO: +17.8% a year, volatility 21.4%TRV: +22.4% a year, volatility 22.3%E: +23.0% a year, volatility 25.6%MFC: +22.6% a year, volatility 24.0%LVHI: +17.0% a year, volatility 11.1%BNS: +12.9% a year, volatility 19.9%BALT: +6.3% a year, volatility 3.3%COST: +17.4% a year, volatility 22.9%VXUS: +8.2% a year, volatility 16.4%CTAS: +16.5% a year, volatility 23.1%QQQ: +14.5% a year, volatility 23.0%VRIG: +4.7% a year, volatility 1.3%ADP: +9.0% a year, volatility 22.9%CCEP: +19.7% a year, volatility 23.2%VTV: +12.1% a year, volatility 13.7%ALL: +17.0% a year, volatility 26.2%XLE: +22.6% a year, volatility 25.5%MET: +12.0% a year, volatility 25.4%VEA: +9.3% a year, volatility 16.9%FLRT: +6.0% a year, volatility 2.3%CBOE: +21.5% a year, volatility 25.1%IX: +17.9% a year, volatility 25.4%SDCI: +20.6% a year, volatility 18.4%GLD: +17.7% a year, volatility 18.9%PG: +5.1% a year, volatility 18.3%LIN: +11.5% a year, volatility 20.9%KOF: +22.3% a year, volatility 24.7%PGR: +21.3% a year, volatility 25.6%IHG: +21.4% a year, volatility 26.6%PAA: +27.0% a year, volatility 25.6%PBA: +13.8% a year, volatility 21.5%VIG: +10.4% a year, volatility 14.1%HMC: +6.1% a year, volatility 27.5%TM: +5.0% a year, volatility 27.0%HD: 0.0% a year, volatility 24.7%COR: +24.2% a year, volatility 22.8%SCHD: +9.7% a year, volatility 14.3%VTIP: +2.7% a year, volatility 2.9%UNP: +7.1% a year, volatility 22.9%RGA: +19.7% a year, volatility 27.3%DRI: +12.4% a year, volatility 27.2%LMT: +11.1% a year, volatility 24.2%VT: +10.3% a year, volatility 16.2%FLOT: +4.5% a year, volatility 1.8%SO: +11.3% a year, volatility 18.8%IEMG: +6.8% a year, volatility 19.4%VWO: +5.2% a year, volatility 17.5%EP-PC: +5.2% a year, volatility 8.9%RSG: +13.9% a year, volatility 18.5%MCD: +2.9% a year, volatility 17.9%EWT: +20.4% a year, volatility 24.2%UL: +5.5% a year, volatility 21.5%PJUL: +10.5% a year, volatility 8.6%MSI: +14.8% a year, volatility 23.6%WM: +9.3% a year, volatility 19.2%DHR: −3.8% a year, volatility 29.1%SPY (S&P 500): +12.7% a year, volatility 17.1%DGX: +12.3% a year, volatility 22.5%LH: +7.3% a year, volatility 23.8%QGEN: +0.6% a year, volatility 26.9%TMO: +2.9% a year, volatility 27.8%A: +2.6% a year, volatility 30.6%ABT: −1.7% a year, volatility 23.1%GILD: +22.8% a year, volatility 24.9%AMGN: +19.6% a year, volatility 24.9%ABBV: +26.1% a year, volatility 23.4%MRK: +16.3% a year, volatility 24.8%JNJ: +12.7% a year, volatility 17.9%VRTX: +22.6% a year, volatility 29.1%V: +12.8% a year, volatility 22.9%KO: +14.7% a year, volatility 16.8%MCK: +38.7% a year, volatility 25.0%VGT: +18.4% a year, volatility 26.0%MNST: +17.2% a year, volatility 24.9%XLV: +8.4% a year, volatility 15.3%AAPL: +18.5% a year, volatility 28.0%SOJE: −4.3% a year, volatility 14.1%CAH: +42.1% a year, volatility 24.7%DHRSPY (S&P 500)DGXLHQGENTMOAABTGILDAMGNABBVMRKJNJVRTXMCKMNSTXLVAAPLSOJECAH−10.0%0.0%10.0%20.0%30.0%40.0%−10.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than DHRCME: +11.2% a year, volatility 20.8%FAST: +15.8% a year, volatility 24.6%KDP: +2.5% a year, volatility 22.1%EXPD: +12.0% a year, volatility 27.1%CIBR: +14.1% a year, volatility 26.1%JQUA: +13.6% a year, volatility 15.7%SJM: +4.8% a year, volatility 25.1%FLTW: +21.8% a year, volatility 24.3%SGOV: +3.8% a year, volatility 0.3%RSPT: +16.9% a year, volatility 25.1%IWX: +12.7% a year, volatility 13.8%DIVB: +13.9% a year, volatility 15.4%HACK: +12.6% a year, volatility 25.8%FHLC: +7.3% a year, volatility 15.4%FBT: +10.8% a year, volatility 22.2%FXL: +11.0% a year, volatility 26.2%JAAA: +5.1% a year, volatility 1.7%XOM: +27.1% a year, volatility 26.5%CVX: +19.5% a year, volatility 25.2%IHAK: +8.3% a year, volatility 25.0%MA: +12.4% a year, volatility 23.8%PM: +21.0% a year, volatility 23.4%VTI: +11.5% a year, volatility 17.5%CSCO: +16.8% a year, volatility 26.1%RSPH: +6.1% a year, volatility 16.8%SHEL: +21.0% a year, volatility 24.8%VOO: +12.8% a year, volatility 16.9%EBF: +11.2% a year, volatility 21.4%WMT: +20.8% a year, volatility 22.6%BRK-B: +13.4% a year, volatility 17.1%TD: +15.8% a year, volatility 20.0%SVOL: +7.6% a year, volatility 21.8%TTE: +18.0% a year, volatility 25.8%MO: +17.8% a year, volatility 21.4%TRV: +22.4% a year, volatility 22.3%E: +23.0% a year, volatility 25.6%MFC: +22.6% a year, volatility 24.0%LVHI: +17.0% a year, volatility 11.1%BNS: +12.9% a year, volatility 19.9%BALT: +6.3% a year, volatility 3.3%COST: +17.4% a year, volatility 22.9%VXUS: +8.2% a year, volatility 16.4%CTAS: +16.5% a year, volatility 23.1%QQQ: +14.5% a year, volatility 23.0%VRIG: +4.7% a year, volatility 1.3%ADP: +9.0% a year, volatility 22.9%CCEP: +19.7% a year, volatility 23.2%VTV: +12.1% a year, volatility 13.7%ALL: +17.0% a year, volatility 26.2%XLE: +22.6% a year, volatility 25.5%MET: +12.0% a year, volatility 25.4%VEA: +9.3% a year, volatility 16.9%FLRT: +6.0% a year, volatility 2.3%CBOE: +21.5% a year, volatility 25.1%IX: +17.9% a year, volatility 25.4%SDCI: +20.6% a year, volatility 18.4%GLD: +17.7% a year, volatility 18.9%PG: +5.1% a year, volatility 18.3%LIN: +11.5% a year, volatility 20.9%KOF: +22.3% a year, volatility 24.7%PGR: +21.3% a year, volatility 25.6%IHG: +21.4% a year, volatility 26.6%PAA: +27.0% a year, volatility 25.6%PBA: +13.8% a year, volatility 21.5%VIG: +10.4% a year, volatility 14.1%HMC: +6.1% a year, volatility 27.5%TM: +5.0% a year, volatility 27.0%HD: 0.0% a year, volatility 24.7%COR: +24.2% a year, volatility 22.8%SCHD: +9.7% a year, volatility 14.3%VTIP: +2.7% a year, volatility 2.9%UNP: +7.1% a year, volatility 22.9%RGA: +19.7% a year, volatility 27.3%DRI: +12.4% a year, volatility 27.2%LMT: +11.1% a year, volatility 24.2%VT: +10.3% a year, volatility 16.2%FLOT: +4.5% a year, volatility 1.8%SO: +11.3% a year, volatility 18.8%IEMG: +6.8% a year, volatility 19.4%VWO: +5.2% a year, volatility 17.5%EP-PC: +5.2% a year, volatility 8.9%RSG: +13.9% a year, volatility 18.5%MCD: +2.9% a year, volatility 17.9%EWT: +20.4% a year, volatility 24.2%UL: +5.5% a year, volatility 21.5%PJUL: +10.5% a year, volatility 8.6%MSI: +14.8% a year, volatility 23.6%WM: +9.3% a year, volatility 19.2%DHR: −3.8% a year, volatility 29.1%SPY (S&P 500): +12.7% a year, volatility 17.1%DGX: +12.3% a year, volatility 22.5%LH: +7.3% a year, volatility 23.8%QGEN: +0.6% a year, volatility 26.9%TMO: +2.9% a year, volatility 27.8%A: +2.6% a year, volatility 30.6%ABT: −1.7% a year, volatility 23.1%GILD: +22.8% a year, volatility 24.9%AMGN: +19.6% a year, volatility 24.9%ABBV: +26.1% a year, volatility 23.4%MRK: +16.3% a year, volatility 24.8%JNJ: +12.7% a year, volatility 17.9%VRTX: +22.6% a year, volatility 29.1%V: +12.8% a year, volatility 22.9%KO: +14.7% a year, volatility 16.8%MCK: +38.7% a year, volatility 25.0%VGT: +18.4% a year, volatility 26.0%MNST: +17.2% a year, volatility 24.9%XLV: +8.4% a year, volatility 15.3%AAPL: +18.5% a year, volatility 28.0%SOJE: −4.3% a year, volatility 14.1%CAH: +42.1% a year, volatility 24.7%DHRSPY (S&P 500)LHQGENTMOABTGILDAMGNABBVMRKJNJMCKVGTXLVSOJECAH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than DHR?

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

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

Screen the whole market against DHR for any period in BetterThanSPYOpen these 21 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with DHR?lower diversifies moreExpenseper year
DHRDanaher Corporation · this page
−3.8%29.1%0.01−43.8%+232%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.540.09%
Popular alternativesbest 6 shownThe investments people most often weigh against DHR. 11 of 19 passed at least one test.
DGXQuest Diagnostics Incorporated · Medical Diagnostics
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.3%22.5%0.63−36.6%+243%0.26—
LHLabcorp Holdings Inc. · Medical Diagnostics
Higher return, lower volatilityHigher return in most periods+7.3%23.8%0.42−46.6%+184%0.43—
QGENQiagen N.V. · Life Sciences Tools
Higher return, lower volatilityHigher return in most periods+0.6%26.9%0.15−41.4%+111%0.59—
TMOThermo Fisher Scientific Inc. · Life Sciences Tools
Higher return, similar volatilityHigher return in most periods+2.9%27.8%0.24−40.9%+366%0.76—
AAgilent Technologies, Inc. · Life Sciences Tools
Higher return, similar volatilityHigher return in most periods+2.6%30.6%0.24−43.2%+306%0.68—
ABTAbbott Laboratories · Medical Devices
Higher return, lower volatility−1.7%23.1%0.04−39.6%+204%0.35—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Life Sciences Tools and the categories next to it (Biotechnology, Medical Diagnostics, Contract Research, Pharmaceuticals), plus DHR's specific themes. 27 of 86 passed at least one test.
GILDGilead Sciences, Inc. · Biotechnology
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+22.8%24.9%0.95−30.5%+200%0.08—
AMGNAmgen Inc. · Biotechnology
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+19.6%24.9%0.85−24.9%+266%0.35—
ABBVAbbVie Inc. · Pharmaceuticals
Higher return, lower volatilityHigher return in most periods+26.1%23.4%1.11−45.1%+603%0.26—
MRKMerck & Co., Inc. · Pharmaceuticals
Higher return, lower volatilityHigher return in most periods+16.3%24.8%0.74−43.4%+241%0.18—
JNJJohnson & Johnson · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst decline+12.7%17.9%0.76−27.4%+196%0.28—
VRTXVertex Pharmaceuticals Incorporated · Biotechnology
Higher return, similar volatilityHigher return in most periods+22.6%29.1%0.85−41.6%+521%0.14—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,829 of 3,528 passed at least one test.
VVisa Inc. · Payment Processing
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.8%22.9%0.64−36.4%+429%0.23—
KOThe Coca-Cola Company · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+14.7%16.8%0.91−37.0%+204%0.20—
MCKMcKesson Corporation · Health Care Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+38.7%25.0%1.44−38.1%+586%0.08—
VGTVanguard Information Technology ETF · Technology Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+18.4%26.0%0.78−35.1%+779%0.450.09%
MNSTMonster Beverage Corporation · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.2%24.9%0.77−30.4%+285%0.25—
XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+8.4%15.3%0.60−28.4%+202%0.610.08%
AAPLApple Inc. · Computer Hardware
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+18.5%28.0%0.75−38.5%+1,168%0.43—
SOJESouthern Company (The) Series 2 · Junior Subordinated Debt
Similar return, lower volatility−4.3%14.1%-0.24−30.4%—0.49—
What these numbers mean for DHR
Annual return
DHR lost 3.8% 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 $8,240. 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
DHR's volatility over the past 5 years was 29.1%, 1.7 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, DHR's return lands within 29.1% 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
DHR's Sharpe ratio over the past 5 years was 0.01, against 0.79 for the S&P 500, so DHR 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
DHR's worst fall from a peak to a low over the past 10 years was 43.8%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 43.8% fall takes a 78.0% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, DHR's monthly returns had a correlation of 0.54 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 DHR instead: the lower it is, the more that option would diversify a DHR holding. Guide: Correlation and diversification →
Show all 1,360 stocks and funds worth at least $500 million that earned more than DHR 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 DHRExpense
1
VVisa Inc. · Payment Processing
Whole market+12.8%22.9%0.64−36.4%+429%0.23—
2
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.20—
3
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.08—
4
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.450.09%
5
MNSTMonster Beverage Corporation · Food & Beverages
Whole market+17.2%24.9%0.77−30.4%+285%0.25—
6
CMECME Group Inc. · Capital Markets
Whole market+11.2%20.8%0.62−37.4%+319%-0.01—
7
FASTFastenal Company · Industrial Distribution
Whole market+15.8%24.6%0.72−30.7%+576%0.27—
8
XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity
Whole market+8.4%15.3%0.60−28.4%+202%0.610.08%
9
KDPKeurig Dr Pepper Inc. · Food & Beverages
Whole market+2.5%22.1%0.23−36.9%+281%0.28—
10
GILDGilead Sciences, Inc. · Biotechnology
Same or nearby category+22.8%24.9%0.95−30.5%+200%0.08—
11
EXPDExpeditors International of Washington, Inc. · Freight & Logistics
Whole market+12.0%27.1%0.56−35.6%+349%0.55—
12
AMGNAmgen Inc. · Biotechnology
Same or nearby category+19.6%24.9%0.85−24.9%+266%0.35—
13
CIBRFirst Trust Nasdaq Cybersecurity ETF · Cybersecurity
Whole market+14.1%26.1%0.64−33.9%+454%0.300.58%
14
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Whole market+13.6%15.7%0.89−32.9%—0.550.12%
15
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.23—
16
SJMThe J. M. Smucker Company · Packaged Foods
Whole market+4.8%25.1%0.32−38.1%+37.2%0.21—
17
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.290.19%
18
SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bonds
Whole market+3.8%0.3%13.25−0.3%—0.070.09%
19
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.9%25.1%0.75−33.7%+572%0.510.40%
20
IWXiShares Russell Top 200 Value ETF · Broad Market
Whole market+12.7%13.8%0.94−35.8%+221%0.470.20%
21
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.490.05%
22
DGXQuest Diagnostics Incorporated · Medical Diagnostics
Popular alternative+12.3%22.5%0.63−36.6%+243%0.26—
23
HACKAmplify Cybersecurity ETF · Technology
Whole market+12.6%25.8%0.59−38.7%+373%0.310.60%
24
FHLCFidelity MSCI Health Care Index ETF · Healthcare
Whole market+7.3%15.4%0.53−28.8%+199%0.640.08%
25
FBTFirst Trust NYSE Arca Biotechnology Index Fund · Healthcare
Whole market+10.8%22.2%0.58−33.3%+203%0.590.55%
26
FXLFirst Trust Technology AlphaDEX Fund · Technology
Whole market+11.0%26.2%0.53−38.5%+523%0.470.60%
27
JAAAJanus Henderson AAA CLO ETF · CLO Bonds
Whole market+5.1%1.7%2.98−2.6%—0.140.20%
28
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.1%26.5%1.04−61.0%+214%0.03—
29
CVXChevron Corporation · Integrated Oil & Gas
Whole market+19.5%25.2%0.84−55.8%+238%0.18—
30
IHAKiShares Cybersecurity and Tech ETF · Technology
Whole market+8.3%25.0%0.44−34.4%—0.400.47%
31
MAMastercard Incorporated · Payment Processing
Whole market+12.4%23.8%0.61−41.0%+541%0.32—
32
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.02—
33
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.5%17.5%0.71−35.0%+302%0.550.03%
34
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.20—
35
RSPHInvesco S&P 500 Equal Weight Health Care ETF · Healthcare
Whole market+6.1%16.8%0.44−30.4%+177%0.670.40%
36
SHELShell plc · Integrated Oil & Gas
Whole market+21.0%24.8%0.90−67.2%+233%-0.05—
37
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.540.03%
38
EBFEnnis, Inc. · Specialty Business Services
Whole market+11.2%21.4%0.60−35.4%+163%0.22—
39
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.02—
40
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.40—
41
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.30—
42
SVOLSimplify Volatility Premium ETF · Dividend & Income
Whole market+7.6%21.8%0.44−33.5%—0.470.66%
43
TTETotalEnergies SE · Integrated Oil & Gas
Whole market+18.0%25.8%0.78−59.6%+234%0.02—
44
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%-0.06—
45
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.08—
46
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.0%25.6%0.94−61.4%+278%0.03—
47
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.31—
48
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.310.40%
49
BNSThe Bank of Nova Scotia · Banks
Whole market+12.9%19.9%0.71−46.9%+187%0.49—
50
BALTInnovator Defined Wealth Shield ETF · Crypto
Whole market+6.3%3.3%1.85−4.9%—0.500.69%
51
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.29—
52
VXUSVanguard Total International Stock ETF · International Equity
Whole market+8.2%16.4%0.57−36.0%+140%0.500.05%
53
CTASCintas Corporation · Business Services
Whole market+16.5%23.1%0.78−48.4%+808%0.38—
54
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.5%23.0%0.71−35.1%+553%0.490.18%
55
VRIGInvesco Variable Rate Investment Grade ETF · Bonds
Whole market+4.7%1.3%3.51−13.1%+40.5%0.060.30%
56
ADPAutomatic Data Processing, Inc. · Business Services
Whole market+9.0%22.9%0.49−40.8%+320%0.49—
57
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Whole market+19.7%23.2%0.90−48.8%+292%0.20—
58
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Whole market+12.1%13.7%0.90−36.8%+235%0.470.03%
59
ALLThe Allstate Corporation · Property & Casualty Insurance
Whole market+17.0%26.2%0.73−41.4%+356%0.02—
60
XLEState Street Energy Select Sector SPDR ETF · Energy Equity
Whole market+22.6%25.5%0.93−66.8%+189%0.080.08%
61
METMetLife, Inc. · Life Insurance
Whole market+12.0%25.4%0.58−55.2%+240%0.23—
62
VEAVanguard FTSE Developed Markets ETF · Developed International Equity
Whole market+9.3%16.9%0.61−35.8%+153%0.500.03%
63
FLRTPacer Aristotle Pacific Floating Rate High Income ETF · Financials
Whole market+6.0%2.3%2.55−21.0%+58.0%0.200.60%
64
CBOECboe Global Markets, Inc. · Capital Markets
Whole market+21.5%25.1%0.91−43.2%+463%0.12—
65
IXORIX Corporation · Diversified Financials
Whole market+17.9%25.4%0.78−42.5%+284%0.34—
66
ABBVAbbVie Inc. · Pharmaceuticals
Same or nearby category+26.1%23.4%1.11−45.1%+603%0.26—
67
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—-0.090.80%
68
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.100.40%
69
PGThe Procter & Gamble Company · Household & Personal Products
Whole market+5.1%18.3%0.37−23.8%+145%0.08—
70
LINLinde plc · Chemicals
Whole market+11.5%20.9%0.63−32.6%+394%0.31—
71
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.3%24.7%0.94−55.1%+119%0.35—
72
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%0.02—
73
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.4%26.6%0.86−59.3%+383%0.32—
74
PAAPlains All American Pipeline, L.P. · Oil & Gas Midstream
Whole market+27.0%25.6%1.06−87.9%+64.0%0.09—
75
PBAPembina Pipeline Corporation · Oil & Gas Midstream
Whole market+13.8%21.5%0.71−70.9%+172%0.21—
76
VIGVanguard Dividend Appreciation ETF · US Dividend Equity
Whole market+10.4%14.1%0.78−31.7%+258%0.530.04%
77
HMCHonda Motor Co., Ltd. · Automobiles
Whole market+6.1%27.5%0.35−42.0%+63.3%0.25—
78
TMToyota Motor Corporation · Automobiles
Whole market+5.0%27.0%0.32−36.8%+129%0.31—
79
HDThe Home Depot, Inc. · Specialty Retail
Whole market0.0%24.7%0.12−38.0%+217%0.47—
80
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.26—
81
SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity
Whole market+9.7%14.3%0.72−33.4%+252%0.440.06%
82
VTIPVanguard Short-Term Inflation-Protected Securities ETF · Treasury Bonds
Whole market+2.7%2.9%0.94−6.3%+32.7%0.300.03%
83
UNPUnion Pacific Corporation · Railroads
Whole market+7.1%22.9%0.42−38.7%+295%0.40—
84
RGAReinsurance Group of America, Incorporated · Insurance
Whole market+19.7%27.3%0.80−65.8%+199%0.14—
85
MRKMerck & Co., Inc. · Pharmaceuticals
Same or nearby category+16.3%24.8%0.74−43.4%+241%0.18—
86
DRIDarden Restaurants, Inc. · Restaurants
Whole market+12.4%27.2%0.57−72.8%+361%0.14—
87
LMTLockheed Martin Corporation · Aerospace & Defense
Whole market+11.1%24.2%0.56−36.7%+204%-0.03—
88
VTVanguard Total World Stock ETF · Global Equity
Whole market+10.3%16.2%0.69−34.2%+223%0.550.06%
89
FLOTiShares Floating Rate Bond ETF · Floating Rate Bonds
Whole market+4.5%1.8%2.48−13.5%+35.9%0.100.15%
90
SOThe Southern Company · Electric Utilities
Whole market+11.3%18.8%0.67−38.4%+170%0.20—
91
IEMGiShares Core MSCI Emerging Markets ETF · Emerging Markets Equity
Whole market+6.8%19.4%0.44−38.7%+122%0.370.09%
92
VWOVanguard FTSE Emerging Markets ETF · Emerging Markets Equity
Whole market+5.2%17.5%0.38−36.4%+102%0.380.06%
93
EP-PCEl Paso Energy Capital Trust I PFD CV TR SECS · Preferred Stocks
Whole market+5.2%8.9%0.61−25.4%+37.8%0.12—
94
RSGRepublic Services, Inc. · Environmental Services
Whole market+13.9%18.5%0.80−34.0%+446%0.19—
95
MCDMcDonald's Corporation · Restaurants
Whole market+2.9%17.9%0.25−36.9%+181%0.22—
96
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+20.4%24.2%0.89−38.9%+468%0.300.59%
97
ULUnilever PLC · Household & Personal Products
Whole market+5.5%21.5%0.36−30.1%+89.8%0.39—
98
PJULInnovator U.S. Equity Power Buffer ETF · Broad Market
Whole market+10.5%8.6%1.20−18.2%—0.540.79%
99
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+14.8%23.6%0.71−32.8%+625%0.43—
100
WMWaste Management, Inc. · Environmental Services
Whole market+9.3%19.2%0.56−30.1%+344%0.10—

DHR against its popular alternatives

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

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

Green points earned more than DHR 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%100.0%−40.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityDHR: −3.8% a year, volatility 29.1%SPY (S&P 500): 12.7% a year, volatility 17.1%TMO: 2.9% a year, volatility 27.8%DGX: 12.3% a year, volatility 22.5%RGEN: −7.8% a year, volatility 51.3%LH: 7.3% a year, volatility 23.8%QGEN: 0.6% a year, volatility 26.9%ABT: −1.7% a year, volatility 23.1%ILMN: −7.8% a year, volatility 46.9%BIO: −13.9% a year, volatility 37.9%TXG: −15.1% a year, volatility 70.8%TECH: −10.2% a year, volatility 39.4%AVTR: −15.5% a year, volatility 41.0%BRKR: −6.3% a year, volatility 44.3%PACB: −40.0% a year, volatility 97.0%SDGR: −16.0% a year, volatility 65.7%A: 2.6% a year, volatility 30.6%MTD: 2.6% a year, volatility 32.5%IQV: 1.3% a year, volatility 34.7%RVTY: −2.2% a year, volatility 35.1%WAT: 4.5% a year, volatility 33.9%DHRSPY (S&P 500)TMORGENLHQGENABTILMNBIOTXGTECHBRKRPACBSDGRMTDRVTY0.0%20.0%40.0%60.0%80.0%100%−40.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityDHR: −3.8% a year, volatility 29.1%SPY (S&P 500): 12.7% a year, volatility 17.1%TMO: 2.9% a year, volatility 27.8%DGX: 12.3% a year, volatility 22.5%RGEN: −7.8% a year, volatility 51.3%LH: 7.3% a year, volatility 23.8%QGEN: 0.6% a year, volatility 26.9%ABT: −1.7% a year, volatility 23.1%ILMN: −7.8% a year, volatility 46.9%BIO: −13.9% a year, volatility 37.9%TXG: −15.1% a year, volatility 70.8%TECH: −10.2% a year, volatility 39.4%AVTR: −15.5% a year, volatility 41.0%BRKR: −6.3% a year, volatility 44.3%PACB: −40.0% a year, volatility 97.0%SDGR: −16.0% a year, volatility 65.7%A: 2.6% a year, volatility 30.6%MTD: 2.6% a year, volatility 32.5%IQV: 1.3% a year, volatility 34.7%RVTY: −2.2% a year, volatility 35.1%WAT: 4.5% a year, volatility 33.9%DHRSPY (S&P 500)TMORGENLHQGENILMNBIOTXGAVTRPACBSDGRA
All figures
InvestmentAnnual returnVolatility
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
DGX Quest Diagnostics Incorporated+12.3%22.5%
LH Labcorp Holdings Inc.+7.3%23.8%
WAT Waters Corporation+4.5%33.9%
TMO Thermo Fisher Scientific Inc.+2.9%27.8%
A Agilent Technologies, Inc.+2.6%30.6%
MTD Mettler-Toledo International Inc.+2.6%32.5%
IQV IQVIA Holdings Inc.+1.3%34.7%
QGEN Qiagen N.V.+0.6%26.9%
ABT Abbott Laboratories−1.7%23.1%
RVTY Revvity, Inc.−2.2%35.1%
DHR This pageDanaher Corporation−3.8%29.1%
BRKR Bruker Corporation−6.3%44.3%
RGEN Repligen Corporation−7.8%51.3%
ILMN Illumina, Inc.−7.8%46.9%
TECH Bio-Techne Corporation−10.2%39.4%
BIO Bio-Rad Laboratories, Inc.−13.9%37.9%
TXG 10x Genomics, Inc.−15.1%70.8%
AVTR Avantor, Inc.−15.5%41.0%
SDGR Schrödinger, Inc.−16.0%65.7%
PACB Pacific Biosciences of California, Inc.−40.0%97.0%
Open these 21 in EasyCompare

Has DHR consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than DHR 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
DHR Danaher Corporation (this page)—+4.0%+11.6%+15.0%−2.2%+8.3%+10.8%−17.6%+232%29.1%0.01−43.8%—$157B—
A QualifiedAgilent Technologies, Inc.5/5 short3/3 longAll-weather+7.1%+33.1%+43.6%+26.4%+22.0%+62.1%+13.8%+306%30.6%0.24−43.2%—$49B—
MTD QualifiedMettler-Toledo International Inc.5/5 short3/3 longAll-weather+14.2%+28.3%+23.4%+15.8%+20.4%+60.2%+13.7%+298%32.5%0.24−43.5%—$33B—
TMO QualifiedThermo Fisher Scientific Inc.4/5 short3/3 longAll-weather+4.3%+30.7%+30.9%+16.3%+26.8%+49.5%+15.1%+366%27.8%0.24−40.9%—$254B—
IQV QualifiedIQVIA Holdings Inc.4/5 short3/3 longAll-weather−0.8%+31.4%+51.5%+18.8%+26.3%+45.3%+6.5%+260%34.7%0.21−51.5%—$44B—
DGX QualifiedQuest Diagnostics Incorporated4/5 short3/3 longAll-weather−2.9%+14.5%+21.6%+38.6%+26.5%+103%+78.5%+243%22.5%0.63−36.6%—$26B—
RVTY QualifiedRevvity, Inc.5/5 short2/3 long+8.6%+46.6%+67.8%+59.3%+64.0%+54.6%−10.6%+203%35.1%0.11−59.0%—$17B—
RGEN QualifiedRepligen Corporation4/5 short2/3 long−1.0%+22.9%+35.5%+8.8%+15.8%+22.5%−33.3%+514%51.3%0.10−68.3%—$11B—
LH QualifiedLabcorp Holdings Inc.4/5 short2/3 long+0.7%+15.0%+20.6%+29.3%+12.2%+67.4%+42.4%+184%23.8%0.42−46.6%—$26B—
WAT QualifiedWaters Corporation4/5 short2/3 long+4.5%+23.9%+31.9%+15.9%+29.0%+74.6%+24.4%+182%33.9%0.30−44.3%—$43B—
QGEN QualifiedQiagen N.V.4/5 short2/3 long+9.2%+20.8%+20.2%+8.7%+6.3%+45.9%+3.0%+111%26.9%0.15−41.4%—$10B—
ABT Medical - DevicesAbbott Laboratories0/5 short2/3 long+0.3%+1.6%+8.4%−15.3%−18.7%+13.0%−8.0%+204%23.1%0.04−39.6%—$178B—
ILMN Medical - Diagnostics & ResearchIllumina, Inc.5/5 short1/3 long+12.2%+45.1%+102%+99.4%+169%+130%−33.3%+93.0%46.9%0.06−86.2%—$40B—
BIO Medical - DevicesBio-Rad Laboratories, Inc.4/5 short1/3 long−6.0%+17.4%+16.9%+16.1%+10.1%+14.1%−52.5%+115%37.9%-0.21−73.8%—$9.5B—
TXG Biotechnology10x Genomics, Inc.4/5 short1/3 long−9.7%+65.3%+191%+330%+444%+81.2%−55.8%—70.8%0.12−96.5%—$9.3B—
TECH BiotechnologyBio-Techne Corporation3/5 short1/3 long+0.2%+1.4%+20.2%+22.2%+16.7%+15.1%−41.4%+191%39.4%-0.08−67.2%—$11B—
AVTR Medical - Instruments & SuppliesAvantor, Inc.5/5 short0/3 long+10.1%+55.9%+95.5%+45.0%+9.5%−19.1%−56.9%—41.0%-0.20−83.2%—$11B—
BRKR Medical - DevicesBruker Corporation3/5 short0/3 long−9.2%−0.3%+36.3%+16.6%+47.4%−5.0%−27.7%+171%44.3%0.08−68.7%—$8.5B—
PACB Medical - DevicesPacific Biosciences of California, Inc.3/5 short0/3 long+44.1%+44.1%+12.6%+6.5%−1.0%−73.5%−92.2%−77.9%97.0%-0.04−98.2%—$609M—
SDGR Software - ApplicationSchrödinger, Inc.3/5 short0/3 long−22.6%+56.0%+82.8%+30.1%+6.5%+6.5%−58.2%—65.7%0.06−90.2%—$1.8B—
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How did DHR do year by year?

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

InvestmentYears ahead of DHR20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
DHR This pageDanaher Corporation—+0.4%−0.4%−1.2%−19.0%+48.6%+45.4%+49.5%+11.8%+20.0%+73.2%+9.3%+11.6%+38.3%+19.1%−0.1%+25.7%+33.0%−35.4%+21.3%+30.1%−2.7%+25.3%+39.7%+9.1%−11.7%+41.5%−11.0%+72.4%+35.2%
Rank among alternativesTop quarter in 6 of 2913 of 209 of 2010 of 208 of 208 of 209 of 195 of 178 of 1713 of 171 of 1712 of 1711 of 177 of 169 of 164 of 166 of 157 of 158 of 159 of 156 of 1513 of 156 of 159 of 153 of 158 of 158 of 1310 of 122 of 122 of 11
SPY S&P 500State Street SPDR S&P 500 ETF9 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%
A Agilent Technologies, Inc.8 of 26+1.9%−2.7%−6.4%−5.5%+35.5%+39.8%+27.5%+1.7%+48.3%+10.2%+3.5%+0.8%+41.1%+18.4%−15.7%+33.4%+98.7%−57.4%+5.4%+11.1%+38.1%−17.6%+62.8%−37.0%−47.9%−29.2%———
MTD Mettler-Toledo International Inc.14 of 28+13.9%+0.9%−16.1%−14.8%+48.9%+43.7%+40.3%−8.7%+48.0%+23.4%+12.1%+24.7%+25.5%+30.9%−2.3%+44.0%+55.8%−40.8%+44.3%+42.8%+7.6%+21.6%+31.7%−38.2%−4.7%+42.4%+36.1%+62.7%—
TMO Thermo Fisher Scientific Inc.14 of 29+11.8%−1.7%−3.4%−17.3%+43.5%+43.7%+45.6%+18.2%+35.0%−0.1%+13.8%+13.1%+75.8%+43.2%−18.8%+16.1%+40.0%−40.9%+27.4%+50.3%−0.2%+19.8%+25.3%−15.7%+5.6%+98.2%−11.4%−61.5%+6.7%
IQV IQVIA Holdings Inc.7 of 12+14.7%−15.1%+12.9%−27.4%+57.5%+16.0%+33.0%+18.7%+28.7%+10.8%+16.6%+27.0%—————————————————
DGX Quest Diagnostics Incorporated11 of 29+17.2%+11.8%−10.1%−7.4%+47.9%+14.1%+31.1%−13.8%+9.1%+31.9%+8.4%+28.0%−6.2%+1.5%+8.4%−10.0%+17.2%−1.1%+0.6%+3.7%+8.5%+31.6%+28.5%−20.7%+1.0%+364%+72.0%+5.4%+11.3%
RVTY Revvity, Inc.12 of 29−13.1%+2.4%−21.9%−30.1%+40.4%+48.2%+24.0%+7.8%+40.8%−2.1%+23.2%+6.8%+31.0%+60.4%−21.6%+27.1%+50.6%−45.9%+18.4%−4.5%+6.2%+33.9%+112%−75.7%−32.7%+154%+52.5%+36.6%+6.4%
RGEN Repligen Corporation14 of 29+13.8%−20.0%+6.2%−36.1%+38.2%+107%+75.4%+45.4%+17.7%+8.9%+42.9%+45.2%+117%+81.0%−26.0%+14.1%+8.7%−42.3%+133%−29.8%+38.9%−34.1%+43.8%+25.1%−28.1%+8.0%+145%+63.8%−34.4%
LH Labcorp Holdings Inc.15 of 29+10.6%+2.2%+13.8%−24.4%+54.4%+20.3%+33.9%−20.8%+24.3%+3.8%+14.6%+18.1%+5.5%+0.8%−2.2%+17.5%+16.2%−14.7%+2.8%+36.5%+8.1%+34.8%+59.0%−42.5%−8.1%+377%+168%−21.6%−39.0%
WAT Waters Corporation14 of 29+2.4%+12.7%−3.9%−8.1%+50.6%+5.9%+23.9%−2.4%+43.8%−0.1%+19.4%+12.7%+14.8%+17.6%−4.7%+25.4%+69.1%−53.6%+61.5%+29.5%−19.2%+41.1%+52.3%−43.8%−53.6%+215%+21.5%+129%+25.6%
QGEN Qiagen N.V.13 of 29+12.5%+2.6%−12.9%−10.3%+5.2%+56.4%−1.9%+11.4%+10.7%+1.3%+17.8%−1.5%+31.2%+31.4%−29.3%−12.4%+27.1%−16.5%+39.1%+28.8%+7.3%−8.5%+131%−72.1%−46.3%+83.3%+150%+35.3%+73.4%
ABT Abbott Laboratories10 of 29+12.9%+4.8%+2.3%−20.7%+30.5%+28.1%+22.1%+29.1%+52.0%−12.3%+1.9%+20.1%+24.3%+20.3%+21.8%−8.3%+4.6%−2.5%+18.1%+26.9%−13.5%+9.2%+19.3%−26.8%+17.0%+35.8%−24.7%+51.9%+31.4%
ILMN Illumina, Inc.12 of 25−1.8%−1.3%−31.1%−46.9%+2.8%+11.5%+10.6%+37.3%+70.7%−33.3%+4.0%+66.9%+99.0%+82.4%−51.9%+106%+17.8%−12.1%+50.8%+179%+48.6%+34.4%+109%−71.3%−26.9%————
BIO Bio-Rad Laboratories, Inc.12 of 29−7.8%+1.7%−23.2%−44.4%+29.6%+57.5%+59.4%−2.7%+30.9%+31.5%+15.0%−2.5%+17.7%+9.4%−7.5%+7.7%+28.1%−27.3%+25.6%+26.1%+14.1%−0.5%+49.0%+22.3%+99.1%+36.0%+11.3%−19.6%−12.9%
TXG 10x Genomics, Inc.3 of 6+13.6%−74.3%+53.6%−75.5%+5.2%+85.7%———————————————————————
TECH Bio-Techne Corporation10 of 29−17.9%−6.3%−6.5%−35.7%+63.4%+45.4%+52.7%+12.6%+27.5%+15.8%−1.3%−1.1%+40.9%+1.9%+5.5%−2.5%+8.0%−1.9%+19.2%−1.2%+44.3%+2.8%+32.5%−22.4%+2.0%+31.1%+160%+20.9%+33.8%
AVTR Avantor, Inc.2 of 6−45.6%−7.7%+8.3%−50.0%+49.7%+55.1%———————————————————————
BRKR Bruker Corporation12 of 25−19.3%−20.0%+7.8%−18.3%+55.3%+6.6%+71.8%−12.8%+62.7%−12.2%+23.7%−0.8%+29.8%+22.7%−25.2%+37.7%+199%−69.7%+77.1%+54.5%+20.7%−11.5%−6.4%−70.3%−30.6%————
PACB Pacific Biosciences of California, Inc.7 of 15+2.2%−81.3%+19.9%−60.0%−21.1%+405%−30.5%+180%−30.5%−71.1%+67.5%+49.9%+208%−39.3%−82.4%——————————————
SDGR Schrödinger, Inc.1 of 5−7.3%−46.1%+91.5%−46.3%−56.0%————————————————————————
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Risk and diversification

How DHR 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 DHR's worst declines?

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

DuringDHR fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
No named crash−60.9%—Sep 1987Dec 19873 monthsJun 19886 months
No named crash−45.9%+0.6%Apr 1999Mar 200011 monthsDec 20009 months
2008 financial crisis−45.7%−53.3%Dec 2007Mar 200915 monthsNov 201020 months
2022 bear market−43.8%+74.1%Sep 2021May 20264.7 yearsNot yet—
No named crash−38.6%—Jul 1990Nov 19904 monthsJun 19917 months

How did DHR do in stock market crashes?

This section measures how far DHR, 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 DHR.

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
DHR This pageDanaher Corporation—−3.2%−22.8%−25.9%−13.4%−9.8%−14.0%−21.8%−0.6%−45.7%−33.7%
SPY S&P 500State Street SPDR S&P 500 ETF3 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
A Agilent Technologies, Inc.1 of 10−3.7%−25.3%−25.8%−16.1%−8.7%−17.6%−37.3%−4.2%−67.6%−92.4%
MTD Mettler-Toledo International Inc.1 of 10−3.8%−33.9%−23.8%−17.7%−10.0%−16.9%−21.5%−4.3%−60.6%−53.7%
TMO Thermo Fisher Scientific Inc.4 of 10−2.4%−19.8%−24.8%−17.2%−8.7%−14.7%−24.4%−3.6%−53.9%−41.8%
IQV IQVIA Holdings Inc.1 of 6−6.8%−35.9%−48.9%−19.2%−5.3%−28.7%————
DGX Quest Diagnostics Incorporated5 of 10−2.7%−22.3%−35.0%−26.1%−6.5%−17.8%−19.3%−1.0%−29.2%−46.6%
RVTY Revvity, Inc.1 of 10−3.2%−38.1%−29.3%−26.1%−7.7%−23.6%−31.2%−3.4%−62.6%−91.6%
RGEN Repligen Corporation3 of 10−4.9%−38.7%−22.2%−29.9%−8.6%−44.4%−17.1%−3.7%−51.9%−90.7%
LH Labcorp Holdings Inc.3 of 10−4.7%−29.6%−45.5%−30.6%−3.8%−19.5%−18.4%−1.4%−33.5%−63.1%
WAT Waters Corporation2 of 10−1.6%−26.3%−25.3%−14.7%−9.7%−16.6%−26.4%−3.4%−60.7%−80.1%
QGEN Qiagen N.V.5 of 10−0.4%−21.3%−12.4%−14.0%−7.0%−27.8%−25.9%−2.6%−45.1%−92.1%
ABT Abbott Laboratories5 of 10−2.5%−27.9%−29.7%−11.7%−8.8%−27.4%−11.5%−0.5%−22.3%−45.7%
ILMN Illumina, Inc.1 of 9−6.7%−58.2%−31.0%−25.8%−5.3%−36.1%−48.7%−1.9%−57.9%—
BIO Bio-Rad Laboratories, Inc.4 of 10−1.9%−45.3%−21.8%−29.7%−8.0%−18.1%−25.4%−0.5%−50.9%−29.1%
TXG 10x Genomics, Inc.0 of 3−8.1%−81.1%−43.1%———————
TECH Bio-Techne Corporation4 of 10−3.6%−39.6%−23.5%−34.8%−4.5%−24.9%−18.8%−0.4%−43.8%−69.6%
AVTR Avantor, Inc.0 of 3−6.2%−50.5%−53.9%———————
BRKR Bruker Corporation1 of 9−2.5%−38.0%−36.2%−24.1%−13.4%−19.9%−39.0%−5.5%−80.2%—
PACB Pacific Biosciences of California, Inc.0 of 7−6.7%−79.3%−47.4%−28.1%−10.0%−34.7%−75.2%———
SDGR Schrödinger, Inc.0 of 3−7.6%−40.8%−45.4%———————
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How closely does DHR 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 DHR 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 DHR's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
DHR This pageDanaher Corporation84%84%1.010.75
DGX Quest Diagnostics Incorporated69%54%1.280.80
RGEN Repligen Corporation119%108%1.110.99
TMO Thermo Fisher Scientific Inc.104%104%1.000.81
ABT Abbott Laboratories76%79%0.960.64
LH Labcorp Holdings Inc.81%91%0.890.97
A Agilent Technologies, Inc.120%141%0.851.13
MTD Mettler-Toledo International Inc.118%143%0.831.13
IQV IQVIA Holdings Inc.128%167%0.771.31
WAT Waters Corporation107%139%0.771.01
RVTY Revvity, Inc.111%146%0.761.10
QGEN Qiagen N.V.62%83%0.750.45
BRKR Bruker Corporation121%160%0.751.27
TECH Bio-Techne Corporation120%162%0.741.23
BIO Bio-Rad Laboratories, Inc.104%146%0.710.99
ILMN Illumina, Inc.120%200%0.601.19
PACB Pacific Biosciences of California, Inc.76%234%0.331.70
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What diversifies DHR?

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

ETFs

InvestmentCorrelation5Y returnSharpe2024202320222011200820052001199980/20 mix volatility80/20 mix annual return
DHR Danaher Corporation (this page)1.00−17.6%0.01−0.4%−1.2%−19.0%−0.1%−35.4%−2.7%−11.7%−11.0%22.3%−3.4%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.31+119%1.48+15.9%+17.4%+3.8%—————18.5%+0.8%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.30+225%1.34+29.8%+42.0%+6.0%−16.1%−20.8%———18.7%+2.5%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.26+101%1.04+33.4%+8.0%+10.4%—————18.8%+0.6%
HDV Dividend & IncomeiShares Core High Dividend ETF0.34+83.3%1.00+14.1%+1.8%+7.1%—————19.0%−0.1%
FTLS Broad MarketFirst Trust Long/Short Equity ETF0.46+62.9%0.99+18.8%+16.9%−5.6%—————18.7%−0.4%
SMH TechnologyVanEck Semiconductor ETF0.43+323%0.97+39.1%+73.4%−33.5%+6.8%−44.7%+10.8%−14.6%—21.7%+4.6%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.46+85.0%0.96+13.4%+20.1%−5.1%—————18.9%+0.2%
GLD CommoditiesSPDR Gold Shares0.10+126%0.96+26.7%+12.7%−0.8%+9.6%+4.9%+17.8%——18.5%+1.2%

Stocks

InvestmentCorrelation5Y returnSharpe2024202320222011200820052001199980/20 mix volatility80/20 mix annual return
DHR Danaher Corporation (this page)1.00−17.6%0.01−0.4%−1.2%−19.0%−0.1%−35.4%−2.7%−11.7%−11.0%22.3%−3.4%
CAH Medical - DistributionCardinal Health, Inc.0.23+479%1.55+19.0%+34.1%+54.1%+8.1%−39.6%+18.7%−2.5%−36.8%19.7%+4.6%
CLS Hardware, Equipment & PartsCelestica Inc.0.10+3,143%1.47+215%+160%+1.3%−24.4%−20.5%−25.2%−25.6%+350%22.3%+16.2%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.20+1,636%1.46+107%+79.6%+17.0%−17.0%−15.2%+20.1%+73.7%−58.7%21.5%+12.4%
MCK Medical - DistributionMcKesson Corporation0.08+413%1.44+23.7%+24.1%+51.8%+11.8%−40.4%+64.9%+4.9%−71.3%18.9%+4.1%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.13+690%1.41−4.0%+30.4%+86.6%—————19.7%+6.5%
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Common questions

What was DHR's worst drawdown?

DHR's deepest decline since it began trading in 1986 was 60.9%, from September to December 1987. It took six months from the low to climb back to its old high.

What were DHR's best and worst years?

Over 29 full calendar years, DHR's best year was 2016, when it returned 73.2%. Its worst was 2008, with a return of -35.4%.

Is there a better investment than DHR?

Among DHR's popular alternatives, DGX, LH and QGEN earned more than DHR with less volatility over the past 5 years. DGX returned 12.3% a year at 22.5% volatility, against a loss of 3.8% a year at 29.1%. Looking beyond its popular alternatives, GILD (biotechnology) and AMGN (biotechnology) earned more than DHR with less volatility over the past 5 years. GILD returned 22.8% a year at 24.9% volatility, against a loss of 3.8% a year at 29.1%.

Is DHR more volatile than the S&P 500?

Yes. DHR's volatility over the past 5 years was 29.1%, 1.7 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, DHR's return lands within 29.1% 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 DHR's Sharpe ratio?

DHR's Sharpe ratio over the past 5 years was 0.01, against 0.79 for the S&P 500, so DHR 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 DHR with the S&P 500?

Over the past 5 years, DHR's monthly returns had a correlation of 0.54 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 DHR instead: the lower it is, the more that option would diversify a DHR holding.

What are the best alternatives to DHR?

Of the 19 popular alternatives we compared, ten outperformed DHR in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: A, MTD and TMO.

Did DHR outperform the S&P 500?

DHR finished ahead of the S&P 500 (SPY) in 19 of 29 full calendar years. In 2025, it returned +0.4%, against +17.7% for the index.

How did DHR do in stock market crashes?

DHR fell less than the S&P 500 (SPY) in six of the ten major crashes it has traded through, and further in three. The clearest case was the dot-com bust, when DHR fell 33.7% and the S&P 500 fell 47.5%.

What diversifies DHR?

These had a low correlation with DHR over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.31), DXJ (correlation 0.30) and EMLP (correlation 0.26); among large stocks, CAH (correlation 0.23), CLS (correlation 0.10) and FIX (correlation 0.20). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to DHR

Other stocks and ETFs