# How Garmin (GRMN) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/grmn
> 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 GRMN alone. It places GRMN (Garmin Ltd.) against 14 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 GRMN stands in the market, and of the alternatives worth a closer look.

Period covered: GRMN's full trading record, from December 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:** GRMN has run far ahead of the market, rising 19.1% over the past 3 months against 3.9% for the S&P 500 and 3.2% for the Nasdaq 100. Its computer hardware peers were far apart over the past 3 months, from GPRO (GoPro, up 61.0%) to AAPL (Apple, up 4.0%).
- **Stock or market?:** More than an industry move: GRMN rose 19.1% over the past 3 months, against 6.3% for the computer hardware ETF VGT (Vanguard Information Technology ETF). The S&P 500 rose 3.9%. Its computer hardware peers did not move as one over the past 3 months: GPRO (GoPro) rose 61.0%, while AAPL (Apple) rose 4.0%.
- **Past 1 to 3 years:** GRMN led its computer hardware peers in 2023, then fell behind AAPL (Apple) and IRDM (Iridium Communications) in 2025. On the flip side, over the past year, GRMN rose 18.5% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (196% against 89.3%).
- **Long term:** GRMN turned $10,000 into $77,000 over the past decade, against $42,100 in the S&P 500. GRMN's 10-year return of 670% puts it ahead of 91% of the stocks worth at least $300 million with that much history. The S&P 500 returned 321%.
- **In a crash:** Across six sell-offs, GRMN has typically fallen 1.2 times as far as the S&P 500. The 2022 bear market took 40.0% off GRMN, against 24.5% for the S&P 500. That was more than AAPL (Apple, 27.4%) but less than SONY (Sony Group, 50.6%).
- **Diversification:** Against the S&P 500, GRMN has a correlation of 0.44 over 5 years, more closely than 61% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Over 10 years, GRMN's beta versus the S&P 500 was 0.93: in the S&P 500's rising months it gained 1.1 times as much as the index, and in falling months it lost 80% as much.
- **Better options:** Among GRMN's popular alternatives, AAPL (Apple) earned more than GRMN with less volatility over the past 5 years: 18.5% a year at 28.0% volatility, against 14.8% a year at 31.6%. Looking beyond its popular alternatives, CSCO (Cisco Systems, communications equipment) and RTX (avionics theme) earned more than GRMN with less volatility over the past 5 years. CSCO returned 16.8% a year at 26.1% volatility, against 14.8% a year at 31.6%.

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

This chart tracks a hypothetical $10,000 investment in GRMN over the past 25 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of GRMN over the same span and GRMN's popular alternatives, among those that traded for the entire period.

- $10,000 invested in GRMN at the end of September 2001 would have grown to $689,548 by September 2026, more than the $114,557 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of GRMN, and MNST finished highest, at $22,832,107.

## GRMN 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.

- GRMN's deepest decline since it began trading in 2000 was 87.7%, from October 2007 to November 2008. It took about ten years from the low to climb back to its old high.
- Over 25 full calendar years, GRMN's best was 2003, when it returned 87.6%, and its worst was 2008, when it lost 79.3%. It lost money in four of those years.
- GRMN is 6.9% below its all-time high.

- Type: Stock, Technology (Hardware, Equipment & Parts)
- Trading since: December 8, 2000
- Market value: $56B
- Volatility (5 years): 31.6%; Sharpe ratio: 0.59
- Worst decline ever: −87.7%, from October 29, 2007 to November 20, 2008; back at its high by February 20, 2019

| Period | GRMN total return |
| --- | --- |
| 1 month | +3.6% |
| 3 months | +19.1% |
| 6 months | +9.4% |
| year to date | +45.2% |
| 1 year | +18.5% |
| 3 years | +196% |
| 5 years | +99.1% |
| 10 years | +670% |

## GRMN against the whole market

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

### How does GRMN rank among all stocks?

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

- GRMN's 10-year return ranks in the top 9% of the 2,202 stocks worth at least $300 million with 10 years of history.

| Measure | GRMN | Rank |
| --- | --- | --- |
| 1-year return | +18.5% | 1,295 of 3,287 (top 40%) |
| 3-year return | +196% | 420 of 3,017 (top 14%) |
| 5-year return | +99.1% | 690 of 2,893 (top 24%) |
| 10-year return | +670% | 205 of 2,202 (top 10%) |
| Volatility, 5 years | 31.6% | 875 of 2,893 (top 31%) |
| Sharpe ratio, 5 years | 0.59 | 690 of 2,893 (top 24%) |
| Worst decline, past 10 years | −54.6% | 650 of 2,187 (top 30%) |

### What has beaten GRMN 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).

- 123 stocks and 56 ETFs worth at least $500 million sit in the green region: each earned more than GRMN over the past 5 years with smaller price swings. That is 5% of the 3,633 screened.
- Among those with at least half GRMN's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 22% less than GRMN's 31.6%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.59 for GRMN.
- Among GRMN's popular alternatives, AAPL is in the region. AAPL earned 18.5% a year against 14.8% a year for GRMN, at 28.0% volatility, 11% less than GRMN's 31.6%.

### Is there a better investment than GRMN?

The table below lists investments that beat GRMN 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 GRMN's popular alternatives, AAPL earned more than GRMN with less volatility over the past 5 years: 18.5% a year at 28.0% volatility, against 14.8% a year at 31.6%.
- Looking beyond its popular alternatives, CSCO (communications equipment) and RTX (avionics theme) earned more than GRMN with less volatility over the past 5 years. CSCO returned 16.8% a year at 26.1% volatility, against 14.8% a year at 31.6%.
- Across the whole market, 179 of the 3,633 stocks and funds worth at least $500 million earned more than GRMN with less volatility over the past 5 years, among them AAPL, WMT and JPM.

The 15 strongest of 179 investments that beat GRMN 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 GRMN | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| GRMN: Garmin Ltd. (this page) |  | +14.8% | 31.6% | 0.59 | −54.6% | +670% |  |  |
| [VGT](https://easycompare.io/research/vgt): Vanguard Information Technology ETF | Technology Equity | +18.4% | 26.0% | 0.78 | −35.1% | +779% | 0.29 | 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% | 0.29 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| NHC: National HealthCare Corporation | Medical - Care Facilities | +32.0% | 28.5% | 1.12 | −35.3% | +394% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| FLTW: Franklin FTSE Taiwan ETF | Technology | +21.8% | 24.3% | 0.94 | −38.0% | — | 0.29 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [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 |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.01 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [WMT](https://easycompare.io/research/wmt): Walmart Inc. | Discount Retail | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.27 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [JPM](https://easycompare.io/research/jpm): JPMorgan Chase & Co. | Banks | +17.3% | 24.3% | 0.78 | −43.6% | +537% | 0.49 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | Pharmaceuticals | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.22 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| DXJ: WisdomTree Japan Hedged Equity Fund | International Equity | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.35 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | International Equity | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.59 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [COST](https://easycompare.io/research/cost): Costco Wholesale Corporation | Discount Retail | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.36 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [PM](https://easycompare.io/research/pm): Philip Morris International Inc. | Tobacco | +21.0% | 23.4% | 0.94 | −42.9% | +242% | 0.28 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [MCK](https://easycompare.io/research/mck): McKesson Corporation | Health Care Distribution | +38.7% | 25.0% | 1.44 | −38.1% | +586% | 0.26 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [MRK](https://easycompare.io/research/mrk): Merck & Co., Inc. | Pharmaceuticals | +16.3% | 24.8% | 0.74 | −43.4% | +241% | -0.01 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |

## GRMN against its popular alternatives

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

### How do GRMN'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.

- Only AAPL was both more rewarding and calmer than GRMN over the past 5 years, earning a higher annual return with lower volatility.
- Ten of the 14 popular alternatives earned less than GRMN over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, GRMN returned 14.8% a year, more than the S&P 500's 12.7%, with higher volatility (31.6% against 17.1%).

### Has GRMN consistently beaten its popular alternatives?

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

- None of the 14 popular alternatives outperformed GRMN in at least 3 of 5 short-term and 2 of 3 long-term timeframes. The closest was HWM.
- AAPL earned more for the risk it took than GRMN (a higher Sharpe ratio) and fell less in its worst decline of the past 10 years.
- HWM outperformed GRMN over all three long-term periods but in none of the five short-term ones, so GRMN has had the better of it lately.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of GRMN | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| GRMN: Garmin Ltd. (this page) | +18.5% | +196% | +99.1% | +670% |  |  | 0.59 |
| [HWM](https://easycompare.io/research/hwm): Howmet Aerospace Inc. | +10.2% | +391% | +594% | +1,028% | 0/5 short-term, 3/3 long-term |  | 1.36 |
| [AAPL](https://easycompare.io/research/aapl): Apple Inc. | +29.9% | +99.0% | +133% | +1,168% | 2/5 short-term, 2/3 long-term |  | 0.75 |
| CRSR: Corsair Gaming, Inc. | +61.1% | +1.5% | −48.2% | — | 4/5 short-term, 0/3 long-term |  | 0.09 |
| [SONY](https://easycompare.io/research/sony): Sony Group Corporation | −13.2% | +54.0% | +15.4% | +309% | 3/5 short-term, 0/3 long-term |  | 0.24 |
| LOGI: Logitech International S.A. | +0.8% | +65.4% | +32.1% | +489% | 2/5 short-term, 0/3 long-term |  | 0.34 |
| IRDM: Iridium Communications Inc. | +140% | +21.4% | +12.8% | +458% | 2/5 short-term, 0/3 long-term |  | 0.28 |
| SONO: Sonos, Inc. | +2.5% | +55.2% | −47.1% | — | 2/5 short-term, 0/3 long-term |  | -0.02 |
| [QCOM](https://easycompare.io/research/qcom): QUALCOMM Incorporated | +7.4% | +72.4% | +48.3% | +239% | 1/5 short-term, 0/3 long-term |  | 0.40 |
| TRMB: Trimble Inc. | −20.9% | +27.3% | −28.2% | +111% | 1/5 short-term, 0/3 long-term |  | -0.03 |
| [NKE](https://easycompare.io/research/nke): NIKE, Inc. | −42.1% | −60.4% | −73.8% | −15.5% | 1/5 short-term, 0/3 long-term |  | -0.57 |
| GPRO: GoPro, Inc. | −48.6% | −57.7% | −88.0% | −92.5% | 1/5 short-term, 0/3 long-term |  | -0.14 |
| TDY: Teledyne Technologies Incorporated | +10.5% | +62.6% | +43.7% | +499% | 0/5 short-term, 0/3 long-term |  | 0.42 |
| LULU: Lululemon Athletica Inc. | −42.0% | −74.8% | −75.9% | +73.0% | 0/5 short-term, 0/3 long-term |  | -0.44 |
| BC: Brunswick Corporation | +6.2% | −2.1% | −25.2% | +61.1% | 0/5 short-term, 0/3 long-term |  | 0.04 |

### How did GRMN do year by year?

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

- Ranked against its popular alternatives each year, GRMN finished in the top quarter in nine of 25 years and in the bottom quarter in four. In 2025, it ranked 11 of 15.
- GRMN finished ahead of the S&P 500 in 17 of its 25 full calendar years.
- Among its popular alternatives, AAPL came out ahead of GRMN most often, in 17 of the 25 years both traded.

| Year | GRMN | SPY |
| --- | --- | --- |
| 2025 | −0.1% | +17.7% |
| 2024 | +63.3% | +24.9% |
| 2023 | +43.1% | +26.2% |
| 2022 | −30.2% | −18.2% |
| 2021 | +15.9% | +28.7% |
| 2020 | +25.9% | +18.3% |
| 2019 | +58.1% | +31.2% |
| 2018 | +9.8% | −4.6% |
| 2017 | +27.6% | +21.7% |
| 2016 | +36.5% | +12.0% |

## Risk and diversification

How GRMN 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 GRMN's worst declines?

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

- In all five of GRMN's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: GRMN fell 51.0% from January to May 2004, while the S&P 500 slipped only 3.4%.
- The slowest recovery came after GRMN fell 87.7% from October 2007 to November 2008; it did not regain that peak until February 2019, ten years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −87.7% | October 29, 2007 | November 20, 2008 | February 20, 2019 | −50.0% | 2008 financial crisis |
| −54.6% | August 30, 2021 | October 12, 2022 | May 6, 2024 | −19.7% | 2022 bear market |
| −51.0% | January 8, 2004 | May 17, 2004 | November 26, 2004 | −3.4% |  |
| −42.7% | February 8, 2001 | September 20, 2001 | December 2, 2002 | −25.4% | dot-com bust |
| −38.1% | February 19, 2020 | March 23, 2020 | August 5, 2020 | −33.7% | Covid crash |

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

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

- None of its popular alternatives fell less than GRMN in most of the crashes they both traded through.
- GRMN began trading after the dot-com bust, but nine of its popular alternatives lived through it. The mildest fall among them was BC's 39.0%, against 47.5% for the S&P 500.
- GRMN fell less than the S&P 500 in four of the nine crashes it has traded through. The clearest case was the 2011 euro debt crisis, when GRMN fell 9.3% and the S&P 500 fell 17.9%.

| Crash | Dates | GRMN 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 | −87.7% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | 0.0% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −9.3% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −20.3% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −3.1% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −12.9% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −38.1% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −40.0% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −3.2% | −3.4% |

### How closely does GRMN 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.

- Over the past 10 years, GRMN captured 111% of the S&P 500's gains in rising months and 80% of its losses in falling months, with a beta of 0.93. Its share of the market's gains was larger than its share of the losses.
- Only AAPL had a higher capture ratio (upside capture divided by downside capture) than GRMN's 1.39, out of 12 popular alternatives with the same record.
- IRDM took just 72% of the S&P 500's losses, against 80% for GRMN, while still keeping 100% of its gains.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| GRMN: Garmin Ltd. (this page) | 111% | 80.0% | 0.93 |
| [HWM](https://easycompare.io/research/hwm): Howmet Aerospace Inc. | 142% | 115% | 1.41 |
| [AAPL](https://easycompare.io/research/aapl): Apple Inc. | 137% | 94.0% | 1.15 |
| [SONY](https://easycompare.io/research/sony): Sony Group Corporation | 96.0% | 99.0% | 0.86 |
| LOGI: Logitech International S.A. | 112% | 106% | 1.01 |
| IRDM: Iridium Communications Inc. | 100% | 72.0% | 0.99 |
| [QCOM](https://easycompare.io/research/qcom): QUALCOMM Incorporated | 115% | 139% | 1.51 |
| TRMB: Trimble Inc. | 121% | 187% | 1.46 |
| [NKE](https://easycompare.io/research/nke): NIKE, Inc. | 71.0% | 155% | 1.01 |
| GPRO: GoPro, Inc. | 42.0% | 248% | 1.86 |
| TDY: Teledyne Technologies Incorporated | 101% | 81.0% | 1.02 |
| LULU: Lululemon Athletica Inc. | 83.0% | 132% | 1.12 |
| BC: Brunswick Corporation | 117% | 194% | 1.60 |

### What diversifies GRMN?

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 GRMN into CAH would have cut the portfolio's volatility by 18% over the past 5 years and raised its annual return (+15.5% for GRMN alone, +21.0% for the mix).
- CAH made money in three of the four calendar years in which GRMN lost money.
- Among large ETFs, DXJ, EMLP and HDV have moved largely independently of GRMN over the past 5 years, with correlations of 0.49 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with GRMN | 5Y return | Volatility | Sharpe | Rose in GRMN's 4 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.35 | +225% | 19.1% | 1.34 | 3 of 4 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.46 | +101% | 14.5% | 1.04 | 2 of 4 |
| HDV: iShares Core High Dividend ETF | 0.49 | +83.3% | 13.0% | 1.00 | 2 of 4 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.23 | +323% | 36.9% | 0.97 | 1 of 4 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.15 | +126% | 18.9% | 0.96 | 2 of 4 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.29 | +136% | 20.8% | 0.93 | 1 of 4 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.24 | +177% | 25.5% | 0.93 | 2 of 4 |
| DFIV: Dimensional - International Value ETF | 0.48 | +99.4% | 16.4% | 0.93 | 1 of 4 |

## Common questions

### What was GRMN's worst drawdown?

GRMN's deepest decline since it began trading in 2000 was 87.7%, from October 2007 to November 2008. It took about ten years from the low to climb back to its old high.

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

Over 25 full calendar years, GRMN's best year was 2003, when it returned 87.6%. Its worst was 2008, with a return of -79.3%.

### Is there a better investment than GRMN?

Among GRMN's popular alternatives, AAPL earned more than GRMN with less volatility over the past 5 years: 18.5% a year at 28.0% volatility, against 14.8% a year at 31.6%. Looking beyond its popular alternatives, CSCO (communications equipment) and RTX (avionics theme) earned more than GRMN with less volatility over the past 5 years. CSCO returned 16.8% a year at 26.1% volatility, against 14.8% a year at 31.6%.

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

Yes. GRMN's volatility over the past 5 years was 31.6%, 1.8 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, GRMN's return lands within 31.6% 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 GRMN's Sharpe ratio?

GRMN's Sharpe ratio over the past 5 years was 0.59, against 0.79 for the S&P 500, so GRMN 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 GRMN with the S&P 500?

Over the past 5 years, GRMN's monthly returns had a correlation of 0.44 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 GRMN instead: the lower it is, the more that option would diversify a GRMN holding.

### What are the best alternatives to GRMN?

None of the 14 popular alternatives we compared outperformed GRMN in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about GRMN's strength than about its alternatives.

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

GRMN finished ahead of the S&P 500 (SPY) in 17 of 25 full calendar years. In 2025, it returned -0.1%, against +17.7% for the index.

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

GRMN fell less than the S&P 500 (SPY) in four of the nine major crashes it has traded through, and further in four. The clearest case was the 2011 euro debt crisis, when GRMN fell 9.3% and the S&P 500 fell 17.9%.

### What diversifies GRMN?

These had a low correlation with GRMN over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.35), EMLP (correlation 0.46) and HDV (correlation 0.49); among large stocks, CAH (correlation 0.01), CLS (correlation 0.24) and FIX (correlation 0.22). A correlation near zero means the two have moved largely independently.

## More research

- [Howmet Aerospace (HWM) Performance, Alternatives and Market Rank](https://easycompare.io/research/hwm)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/aapl)
- [Sony Group (SONY) Performance, Alternatives and Market Rank](https://easycompare.io/research/sony)
- [QUALCOMM (QCOM) Performance, Alternatives and Market Rank](https://easycompare.io/research/qcom)
- [NIKE (NKE) Performance, Alternatives and Market Rank](https://easycompare.io/research/nke)
- [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)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)
- [Microsoft (MSFT) Performance, Alternatives and Market Rank](https://easycompare.io/research/msft)
- [Amazon.com (AMZN) Performance, Alternatives and Market Rank](https://easycompare.io/research/amzn)
- [Vanguard Morningstar Total Stock Market ETF (VTI) Performance, Alternatives and Market Rank](https://easycompare.io/research/vti)
- [Taiwan Semiconductor Manufacturing (TSM) Performance, Alternatives and Market Rank](https://easycompare.io/research/tsm)

## Explore further

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