# How Edwards Lifesciences (EW) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/ew
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

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

Period covered: EW's full trading record, from March 2000 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.

## Key findings

- **Right now:** The slide is EW's own: it is 32.4% below its high, against 1.3% for the S&P 500. Its medical device peers split over the past 6 months: DXCM (DexCom) rose 32.7%, while BSX (Boston Scientific) fell 25.3%.
- **Stock or market?:** EW rose 3.9% over the past 3 months, 3.6 points behind the medical devices ETF IHI (iShares U.S. Medical Devices ETF), which rose 7.5%. The S&P 500 rose 3.9%. Its medical device peers did not move as one over the past 3 months: ISRG (Intuitive Surgical) rose 24.0%, while SYK (Stryker) fell 4.3%.
- **Past 1 to 3 years:** The last two calendar years both went the same way: EW rose 15.2% in 2025, against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. It took 5 months for EW to win back the 36.2% it lost from November 2019 to March 2020. the S&P 500 fell 28.6% over those same dates.
- **Long term:** Over the past decade, EW returned 8.4% a year against 15.5% a year for the S&P 500 (125% in total against 321%).
- **In a crash:** In the 2022 bear market, EW fell 36.0%, against 24.5% for the S&P 500. That was more than JNJ (Johnson & Johnson, 12.7%) but less than ISRG (Intuitive Surgical, 47.6%).
- **Diversification:** Against the S&P 500, EW has a correlation of 0.46 over 5 years, more closely than 65% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge.
- **Better options**
  - **Nearby categories and themes:** CAH (Cardinal Health, health care distribution) and ABBV (AbbVie, pharmaceuticals) earned more than EW with less volatility over the past 5 years. CAH returned 42.1% a year at 24.7% volatility, against a loss of 5.2% a year at 32.7%.
  - **Whole market:** 1,650 of the 3,633 stocks and funds worth at least $500 million earned more than EW with less volatility over the past 5 years, among them AAPL (Apple), MSFT (Microsoft) and VTI (Vanguard Morningstar Total Stock Market ETF).

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

This chart tracks a hypothetical $10,000 investment in EW over the past 26 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of EW over the same span and EW's popular alternatives, among those that traded for the entire period.

- $10,000 invested in EW at the end of September 2000 would have grown to $474,288 by September 2026, more than the $84,332 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of EW, and AAPL finished highest, at $8,647,637.

## EW 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.

- EW is still 32.4% below its all-time high.
- EW's deepest decline since it began trading in 2000 was 54.3%, from December 2021 to July 2024. It has not yet climbed back to that peak.
- Over 25 full calendar years, EW's best was 2014, when it returned 93.7%, and its worst was 2022, when it lost 42.4%. It lost money in six of those years.

- Type: Stock, Healthcare (Medical - Devices)
- Trading since: March 27, 2000
- Market value: $51B
- Volatility (5 years): 32.7%; Sharpe ratio: 0.01
- Worst decline ever: −54.3%, from December 30, 2021 to July 25, 2024; not yet back at its high

| Period | EW total return |
| --- | --- |
| 1 month | −0.1% |
| 3 months | +3.9% |
| 6 months | +8.4% |
| year to date | +3.5% |
| 1 year | +17.3% |
| 3 years | +27.1% |
| 5 years | −23.6% |
| 10 years | +125% |

## EW against the whole market

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

### How does EW rank among all stocks?

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

- On return for the risk taken (the Sharpe ratio), EW ranks in the bottom 20% of the 2,893 stocks worth at least $300 million.

| Measure | EW | Rank |
| --- | --- | --- |
| 1-year return | +17.3% | 1,325 of 3,287 (top 41%) |
| 3-year return | +27.1% | 1,904 of 3,017 (top 64%) |
| 5-year return | −23.6% | 2,063 of 2,893 (top 72%) |
| 10-year return | +125% | 1,213 of 2,202 (top 56%) |
| Volatility, 5 years | 32.7% | 973 of 2,893 (top 34%) |
| Sharpe ratio, 5 years | 0.01 | 2,324 of 2,893 (top 81%) |
| Worst decline, past 10 years | −54.3% | 638 of 2,187 (top 30%) |

### What has beaten EW 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).

- 706 stocks and 944 ETFs worth at least $500 million sit in the green region: each earned more than EW over the past 5 years with smaller price swings. That is 45% of the 3,633 screened.
- Among those with at least half EW's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 24% less than EW's 32.7%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.01 for EW.
- Among EW's popular alternatives, JNJ, HCA and SYK are in the region. JNJ earned 12.7% a year against a loss of 5.2% a year for EW, at 17.9% volatility, 45% less than EW's 32.7%.

### Is there a better investment than EW?

The table below lists investments that beat EW over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes.

- Among EW's popular alternatives, JNJ, TMO and MDT earned more than EW with less volatility over the past 5 years. JNJ returned 12.7% a year at 17.9% volatility, against a loss of 5.2% a year at 32.7%.
- Looking beyond its popular alternatives, CAH (health care distribution) and ABBV (pharmaceuticals) earned more than EW with less volatility over the past 5 years. CAH returned 42.1% a year at 24.7% volatility, against a loss of 5.2% a year at 32.7%.
- Across the whole market, 1,650 of the 3,633 stocks and funds worth at least $500 million earned more than EW with less volatility over the past 5 years, among them AAPL, MSFT and VTI.

The 15 strongest of 1,650 investments that beat EW over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with EW | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| EW: Edwards Lifesciences Corporation (this page) |  | −5.2% | 32.7% | 0.01 | −54.3% | +125% |  |  |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [AAPL](https://easycompare.io/research/aapl): Apple Inc. | Computer Hardware | +18.5% | 28.0% | 0.75 | −38.5% | +1,168% | 0.22 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MSFT](https://easycompare.io/research/msft): Microsoft Corporation | Software | +12.5% | 28.2% | 0.56 | −37.1% | +946% | 0.34 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.29 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.29 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [V](https://easycompare.io/research/v): Visa Inc. | Payment Processing | +12.8% | 22.9% | 0.64 | −36.4% | +429% | 0.31 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| DXJ: WisdomTree Japan Hedged Equity Fund | International Equity | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.48 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | Food & Beverages | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.27 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [QQQ](https://easycompare.io/research/qqq): Invesco QQQ Trust, Series 1 | US Large-Cap Growth | +14.5% | 23.0% | 0.71 | −35.1% | +553% | 0.44 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [MA](https://easycompare.io/research/ma): Mastercard Incorporated | Payment Processing | +12.4% | 23.8% | 0.61 | −41.0% | +541% | 0.25 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [PM](https://easycompare.io/research/pm): Philip Morris International Inc. | Tobacco | +21.0% | 23.4% | 0.94 | −42.9% | +242% | 0.03 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [CSCO](https://easycompare.io/research/csco): Cisco Systems, Inc. | Communications Equipment | +16.8% | 26.1% | 0.73 | −42.0% | +374% | 0.29 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | US Large-Cap Value | +12.1% | 13.7% | 0.90 | −36.8% | +235% | 0.35 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | Biotechnology | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.08 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [GILD](https://easycompare.io/research/gild): Gilead Sciences, Inc. | Biotechnology | +22.8% | 24.9% | 0.95 | −30.5% | +200% | -0.09 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## EW against its popular alternatives

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

### How do EW'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.

- Nine of the 19 popular alternatives, led by HCA, JNJ and SYK, were both more rewarding and calmer than EW over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, EW returned -5.2% a year, less than the S&P 500's 12.7%, with higher volatility (32.7% against 17.1%).

### Has EW consistently beaten its popular alternatives?

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

- Eight of the 19 popular alternatives, led by THC, TMO and ATRC, outperformed EW in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- THC, TMO and ATRC outperformed EW in every long-term period and in all but one short-term period, the most consistent record in the group.
- JNJ, ISRG and SYK earned more for the risk they took than EW (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of EW | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| EW: Edwards Lifesciences Corporation (this page) | +17.3% | +27.1% | −23.6% | +125% |  |  | 0.01 |
| THC: Tenet Healthcare Corporation | +34.7% | +399% | +315% | +1,058% | 5/5 short-term, 3/3 long-term | all-weather | 0.86 |
| [TMO](https://easycompare.io/research/tmo): Thermo Fisher Scientific Inc. | +26.8% | +49.5% | +15.1% | +366% | 5/5 short-term, 3/3 long-term | all-weather | 0.24 |
| ATRC: AtriCure, Inc. | +54.0% | +62.2% | −20.3% | +228% | 4/5 short-term, 3/3 long-term | all-weather | 0.14 |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | +36.9% | +84.6% | +82.1% | +196% | 4/5 short-term, 3/3 long-term | all-weather | 0.76 |
| PEN: Penumbra, Inc. | +31.0% | +57.8% | +18.5% | +333% | 3/5 short-term, 3/3 long-term | consistent | 0.28 |
| [UNH](https://easycompare.io/research/unh): UnitedHealth Group Incorporated | +18.1% | −15.3% | +5.5% | +241% | 4/5 short-term, 2/3 long-term | consistent | 0.20 |
| LIVN: LivaNova PLC | +47.3% | +61.3% | −2.2% | +41.4% | 4/5 short-term, 2/3 long-term | consistent | 0.18 |
| [MDT](https://easycompare.io/research/mdt): Medtronic Plc | +1.9% | +43.6% | −8.8% | +46.7% | 3/5 short-term, 2/3 long-term | consistent | 0.03 |
| [HCA](https://easycompare.io/research/hca): HCA Healthcare, Inc. | +8.3% | +97.6% | +93.6% | +513% | 2/5 short-term, 3/3 long-term |  | 0.59 |
| [ISRG](https://easycompare.io/research/isrg): Intuitive Surgical, Inc. | −4.5% | +64.1% | +28.9% | +478% | 2/5 short-term, 3/3 long-term |  | 0.32 |
| ELMD: Electromed, Inc. | +10.5% | +162% | +149% | +517% | 1/5 short-term, 3/3 long-term |  | 0.62 |
| [SYK](https://easycompare.io/research/syk): Stryker Corporation | −19.2% | +18.0% | +17.2% | +197% | 1/5 short-term, 2/3 long-term |  | 0.25 |
| [ABT](https://easycompare.io/research/abt): Abbott Laboratories | −18.7% | +13.0% | −8.0% | +204% | 0/5 short-term, 2/3 long-term |  | 0.04 |
| [BDX](https://easycompare.io/research/bdx): Becton, Dickinson and Company | +32.3% | +1.6% | +12.2% | +71.4% | 5/5 short-term, 1/3 long-term |  | 0.22 |
| DXCM: DexCom, Inc. | +25.3% | −0.3% | −38.4% | +316% | 4/5 short-term, 1/3 long-term |  | 0.04 |
| PODD: Insulet Corp. | −56.4% | −1.4% | −52.2% | +255% | 1/5 short-term, 1/3 long-term |  | -0.12 |
| [BSX](https://easycompare.io/research/bsx): Boston Scientific Corporation | −54.7% | −8.9% | +2.5% | +98.1% | 1/5 short-term, 1/3 long-term |  | 0.15 |
| ZBH: Zimmer Biomet Holdings, Inc. | −5.6% | −5.5% | −31.1% | −16.1% | 3/5 short-term, 0/3 long-term |  | -0.14 |
| INSP: Inspire Medical Systems, Inc. | −11.7% | −54.3% | −71.6% | — | 2/5 short-term, 0/3 long-term |  | -0.10 |

### How did EW do year by year?

This table shows each investment's total return in every full calendar year since 2001, along with where EW ranked among its popular alternatives each year.

- EW finished ahead of the S&P 500 in 13 of its 25 full calendar years, and behind it in each of the last four.
- Ranked against its popular alternatives each year, EW finished in the top quarter in eight of 25 years and in the bottom quarter in two. In 2025, it ranked 8 of 20.
- Among its popular alternatives, HCA came out ahead of EW most often, in eight of the 14 years both traded.

| Year | EW | SPY |
| --- | --- | --- |
| 2025 | +15.2% | +17.7% |
| 2024 | −2.9% | +24.9% |
| 2023 | +2.2% | +26.2% |
| 2022 | −42.4% | −18.2% |
| 2021 | +42.0% | +28.7% |
| 2020 | +17.3% | +18.3% |
| 2019 | +52.3% | +31.2% |
| 2018 | +35.9% | −4.6% |
| 2017 | +20.3% | +21.7% |
| 2016 | +18.6% | +12.0% |

## Risk and diversification

How EW 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 EW's worst declines?

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

- In all five of EW's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: EW fell 54.3% from December 2021 to July 2024, while the S&P 500 rose 17.4%.
- None of these declines kept EW below its old high for long; the longest climb back took ten months.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −54.3% | December 30, 2021 | July 25, 2024 | not yet | +17.4% | 2022 bear market |
| −50.7% | August 31, 2000 | November 1, 2000 | June 29, 2001 | −6.2% | dot-com bust |
| −44.0% | October 4, 2012 | December 13, 2013 | October 24, 2014 | +24.6% |  |
| −37.0% | February 11, 2002 | July 23, 2002 | May 7, 2003 | −27.8% | dot-com bust |
| −36.2% | November 27, 2019 | March 23, 2020 | August 27, 2020 | −28.6% | Covid crash |

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

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

- Among its popular alternatives, JNJ held up best, falling less than EW in seven of the nine crashes they both traded through.
- EW began trading after the dot-com bust, but eight of its popular alternatives lived through it. The mildest fall among them was UNH's 19.8%, against 47.5% for the S&P 500.
- EW fell further than the S&P 500 in four of the nine crashes it has traded through. The clearest case was the 2022 bear market, when EW fell 36.0% and the S&P 500 fell 24.5%.

| Crash | Dates | EW fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −31.9% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.4% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −19.4% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −9.7% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −6.1% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −20.0% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −33.2% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −36.0% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −3.8% | −3.4% |

### How closely does EW 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.

- 13 of the 18 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than EW's 0.73, led by ELMD, PEN and JNJ.
- ELMD took just 51% of the S&P 500's losses, against 120% for EW, while still keeping 88% of its gains.
- Over the past 10 years, EW captured 88% of the S&P 500's gains in rising months and 120% of its losses in falling months, with a beta of 0.97. Its share of the market's losses was larger than its share of the gains.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| EW: Edwards Lifesciences Corporation (this page) | 88.0% | 120% | 0.97 |
| THC: Tenet Healthcare Corporation | 173% | 168% | 1.87 |
| [TMO](https://easycompare.io/research/tmo): Thermo Fisher Scientific Inc. | 104% | 104% | 0.81 |
| ATRC: AtriCure, Inc. | 117% | 141% | 1.16 |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | 64.0% | 53.0% | 0.46 |
| PEN: Penumbra, Inc. | 70.0% | 40.0% | 0.52 |
| [UNH](https://easycompare.io/research/unh): UnitedHealth Group Incorporated | 81.0% | 82.0% | 0.70 |
| LIVN: LivaNova PLC | 74.0% | 129% | 0.89 |
| [MDT](https://easycompare.io/research/mdt): Medtronic Plc | 62.0% | 105% | 0.68 |
| [HCA](https://easycompare.io/research/hca): HCA Healthcare, Inc. | 135% | 140% | 1.37 |
| [ISRG](https://easycompare.io/research/isrg): Intuitive Surgical, Inc. | 136% | 154% | 1.28 |
| ELMD: Electromed, Inc. | 88.0% | 51.0% | 0.54 |
| [SYK](https://easycompare.io/research/syk): Stryker Corporation | 82.0% | 96.0% | 0.88 |
| [ABT](https://easycompare.io/research/abt): Abbott Laboratories | 76.0% | 79.0% | 0.64 |
| [BDX](https://easycompare.io/research/bdx): Becton, Dickinson and Company | 53.0% | 77.0% | 0.48 |
| DXCM: DexCom, Inc. | 97.0% | 97.0% | 1.13 |
| PODD: Insulet Corp. | 81.0% | 82.0% | 0.92 |
| [BSX](https://easycompare.io/research/bsx): Boston Scientific Corporation | 76.0% | 109% | 0.72 |
| ZBH: Zimmer Biomet Holdings, Inc. | 62.0% | 139% | 0.88 |

### What diversifies EW?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in EW into LVHI would have cut the portfolio's volatility by 18% over the past 5 years and raised its annual return (-5.3% for EW alone, -0.5% for the mix).
- MCK made money in five of the six calendar years in which EW lost money.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of EW over the past 5 years, with correlations of 0.48 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with EW | 5Y return | Volatility | Sharpe | Rose in EW's 6 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.28 | +119% | 11.1% | 1.48 | 2 of 6 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.48 | +225% | 19.1% | 1.34 | 3 of 6 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.26 | +101% | 14.5% | 1.04 | 3 of 6 |
| HDV: iShares Core High Dividend ETF | 0.20 | +83.3% | 13.0% | 1.00 | 3 of 6 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.39 | +323% | 36.9% | 0.97 | 4 of 6 |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | 0.48 | +85.0% | 13.8% | 0.96 | 2 of 6 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.12 | +126% | 18.9% | 0.96 | 3 of 6 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.43 | +136% | 20.8% | 0.93 | 1 of 6 |

## Common questions

### What was EW's worst drawdown?

EW's deepest decline since it began trading in 2000 was 54.3%, from December 2021 to July 2024. It has not yet climbed back to that peak.

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

Over 25 full calendar years, EW's best year was 2014, when it returned 93.7%. Its worst was 2022, with a return of -42.4%.

### Is there a better investment than EW?

Among EW's popular alternatives, JNJ, TMO and MDT earned more than EW with less volatility over the past 5 years. JNJ returned 12.7% a year at 17.9% volatility, against a loss of 5.2% a year at 32.7%. Looking beyond its popular alternatives, CAH (health care distribution) and ABBV (pharmaceuticals) earned more than EW with less volatility over the past 5 years. CAH returned 42.1% a year at 24.7% volatility, against a loss of 5.2% a year at 32.7%.

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

Yes. EW's volatility over the past 5 years was 32.7%, about twice the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, EW's return lands within 32.7% 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 EW's Sharpe ratio?

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

Over the past 5 years, EW's monthly returns had a correlation of 0.46 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 EW instead: the lower it is, the more that option would diversify a EW holding.

### What are the best alternatives to EW?

Of the 19 popular alternatives we compared, eight outperformed EW in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: THC, TMO and ATRC.

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

EW finished ahead of the S&P 500 (SPY) in 13 of 25 full calendar years. In 2025, it returned +15.2%, against +17.7% for the index.

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

EW fell less than the S&P 500 (SPY) in three of the nine major crashes it has traded through, and further in four. The clearest case was the 2022 bear market, when EW fell 36.0% and the S&P 500 fell 24.5%.

### What diversifies EW?

These had a low correlation with EW over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.28), DXJ (correlation 0.48) and EMLP (correlation 0.26); among large stocks, CAH (correlation 0.29), CLS (correlation 0.09) and FIX (correlation 0.22). A correlation near zero means the two have moved largely independently.

## More research

- [Thermo Fisher Scientific (TMO) Performance, Alternatives and Market Rank](https://easycompare.io/research/tmo)
- [Johnson & Johnson (JNJ) Performance, Alternatives and Market Rank](https://easycompare.io/research/jnj)
- [UnitedHealth Group (UNH) Performance, Alternatives and Market Rank](https://easycompare.io/research/unh)
- [Medtronic (MDT) Performance, Alternatives and Market Rank](https://easycompare.io/research/mdt)
- [HCA Healthcare (HCA) Performance, Alternatives and Market Rank](https://easycompare.io/research/hca)
- [Intuitive Surgical (ISRG) Performance, Alternatives and Market Rank](https://easycompare.io/research/isrg)
- [Stryker (SYK) Performance, Alternatives and Market Rank](https://easycompare.io/research/syk)
- [Abbott Laboratories (ABT) Performance, Alternatives and Market Rank](https://easycompare.io/research/abt)
- [Becton, Dickinson and Company (BDX) Performance, Alternatives and Market Rank](https://easycompare.io/research/bdx)
- [Boston Scientific (BSX) Performance, Alternatives and Market Rank](https://easycompare.io/research/bsx)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)

## Explore further

- Full page with charts: https://easycompare.io/research/ew
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against EW live: https://betterthanspy.com/?b=EW&utm_source=easycompare&utm_medium=research