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Relative Intelligence · Computer Hardware

How Hewlett Packard Enterprise (HPE) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on HPE alone. It places HPE (Hewlett Packard Enterprise Company) 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 HPE stands in the market, and of the alternatives worth a closer look.

Period covered: HPE's full trading record, from October 2015 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.

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

Rank the market against HPE →Chart HPE vs. 19 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in HPE over the past 10 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of HPE over the same span and HPE's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Note: HPE began trading on October 19, 2015, so the chart cannot reach back to the dot-com bust, the 2008 financial crisis or two other sell-offs. It covers the most recent 10 years of HPE's record, starting at the end of September 2016.

Choose a period

From the end of September 2016 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 266 of the 2,697 stocks and funds worth at least $500 million that traded the whole period ended ahead of HPE; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000$200,000$500,000$1M201620182020202220242026$10,000$100,000$1M2016201920222025
  • NVDA$1M+13,576% total · +63.5% a year
  • AMD$885,314+8,753% total · +56.6% a year
  • QUBT$610,560+6,006% total · +50.9% a year
  • DELL$441,783+4,318% total · +46.1% a year
  • STX$346,866+3,369% total · +42.6% a year
  • AVGO$261,904+2,519% total · +38.6% a year
  • SMCI$175,515+1,655% total · +33.2% a year
  • WDC$116,171+1,062% total · +27.8% a year
  • HPE$63,955+540% total · +20.4% a year
  • SPY (S&P 500)$41,286+313% total · +15.2% a year
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From the end of September 2021 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 114 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of HPE; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000202120222023202420252026$10,000$20,000$50,000$100,000202120222023202420252026
  • STX$128,799+1,188% total · +66.7% a year
  • DELL$112,363+1,024% total · +62.2% a year
  • NVDA$110,811+1,008% total · +61.8% a year
  • AVGO$79,117+691% total · +51.2% a year
  • MPC$71,516+615% total · +48.2% a year
  • ASX$70,798+608% total · +47.9% a year
  • AMD$59,452+495% total · +42.8% a year
  • LLY$52,411+424% total · +39.3% a year
  • HPE$51,318+413% total · +38.7% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
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HPE at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

Note: HPE began trading on October 19, 2015, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust, the 2008 financial crisis or two other sell-offs.

The company

Market value
$74B
Industry
Computer Hardware
Price history from
October 2015

Returns

Past 1 year
+150%total return
Past 3 years
+296%+58.2% a year
Past 5 years
+315%+32.9% a year
Past 10 years
+483%+19.3% a year
Best calendar year
+54.2%2016
Worst calendar year
−21.9%2020
Losing years
2 of 10full calendar years

Risk

Volatility
42.2%typical yearly swing, 5 years
Sharpe ratio
0.89return per unit of risk, 5 years
Worst decline ever
−56.9%Mar 2018 to Mar 2020
From its all-time high
−23.6%below the peak

HPE against the whole market

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

How does HPE rank among all stocks?

This section ranks HPE 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 HPE 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.

MeasureHPERankStanding
1-year return+150%73 of 3,287top 2%
3-year return+296%228 of 3,017top 8%
5-year return+315%155 of 2,893top 5%
10-year return+483%323 of 2,202top 15%
Volatility, 5 years42.2%1,564 of 2,893bottom 47%
Sharpe ratio, 5 years0.89183 of 2,893top 6%
Worst decline, past 10 years−56.9%757 of 2,187top 35%

What has beaten HPE 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). HPE sits where the dashed lines cross. Anything in the green box above and to the left earned more than HPE 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 HPE; faint dots are 23 more of the 29 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

10.0%20.0%30.0%40.0%50.0%60.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than HPEESLT: +39.8% a year, volatility 34.6%VLO: +44.2% a year, volatility 36.9%DHT: +38.7% a year, volatility 39.0%USLM: +35.6% a year, volatility 36.1%EME: +43.0% a year, volatility 35.3%COKE: +41.2% a year, volatility 38.0%HWM: +47.3% a year, volatility 32.5%ODC: +35.9% a year, volatility 36.9%GE: +36.0% a year, volatility 31.0%PBR: +50.3% a year, volatility 37.5%BBVA: +38.7% a year, volatility 33.3%IBKR: +35.4% a year, volatility 35.4%TRGP: +41.8% a year, volatility 31.7%IMO: +34.3% a year, volatility 32.0%JBL: +35.8% a year, volatility 39.6%SBS: +39.1% a year, volatility 37.1%NVT: +35.4% a year, volatility 38.0%MLI: +38.9% a year, volatility 33.4%MOG-A: +36.6% a year, volatility 32.0%IDCC: +39.0% a year, volatility 36.9%LAUR: +37.5% a year, volatility 32.8%CAAP: +35.1% a year, volatility 35.9%NRP: +37.4% a year, volatility 33.9%HPE: +32.9% a year, volatility 42.2%SPY (S&P 500): +12.7% a year, volatility 17.1%AVGO: +48.3% a year, volatility 44.5%DELL: +55.2% a year, volatility 54.4%ASX: +48.8% a year, volatility 43.0%ADI: +19.5% a year, volatility 34.1%MSI: +14.8% a year, volatility 23.6%CDNS: +14.8% a year, volatility 37.2%SNPS: +7.2% a year, volatility 42.3%UI: +14.4% a year, volatility 49.2%LLY: +40.7% a year, volatility 32.8%MPC: +51.2% a year, volatility 33.4%MCK: +38.7% a year, volatility 25.0%PWR: +39.3% a year, volatility 37.2%APH: +33.8% a year, volatility 32.2%JXN: +41.7% a year, volatility 43.3%SPMO: +18.7% a year, volatility 20.8%IGPT: +14.3% a year, volatility 30.1%CAH: +42.1% a year, volatility 24.7%PBR-A: +51.8% a year, volatility 37.5%HPESPY (S&P 500)AVGODELLASXADICDNSSNPSUILLYMPCMCKPWRAPHJXNSPMOIGPTCAHPBR-A10.0%20.0%30.0%40.0%50.0%60.0%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than HPEESLT: +39.8% a year, volatility 34.6%VLO: +44.2% a year, volatility 36.9%DHT: +38.7% a year, volatility 39.0%USLM: +35.6% a year, volatility 36.1%EME: +43.0% a year, volatility 35.3%COKE: +41.2% a year, volatility 38.0%HWM: +47.3% a year, volatility 32.5%ODC: +35.9% a year, volatility 36.9%GE: +36.0% a year, volatility 31.0%PBR: +50.3% a year, volatility 37.5%BBVA: +38.7% a year, volatility 33.3%IBKR: +35.4% a year, volatility 35.4%TRGP: +41.8% a year, volatility 31.7%IMO: +34.3% a year, volatility 32.0%JBL: +35.8% a year, volatility 39.6%SBS: +39.1% a year, volatility 37.1%NVT: +35.4% a year, volatility 38.0%MLI: +38.9% a year, volatility 33.4%MOG-A: +36.6% a year, volatility 32.0%IDCC: +39.0% a year, volatility 36.9%LAUR: +37.5% a year, volatility 32.8%CAAP: +35.1% a year, volatility 35.9%NRP: +37.4% a year, volatility 33.9%HPE: +32.9% a year, volatility 42.2%SPY (S&P 500): +12.7% a year, volatility 17.1%AVGO: +48.3% a year, volatility 44.5%DELL: +55.2% a year, volatility 54.4%ASX: +48.8% a year, volatility 43.0%ADI: +19.5% a year, volatility 34.1%MSI: +14.8% a year, volatility 23.6%CDNS: +14.8% a year, volatility 37.2%SNPS: +7.2% a year, volatility 42.3%UI: +14.4% a year, volatility 49.2%LLY: +40.7% a year, volatility 32.8%MPC: +51.2% a year, volatility 33.4%MCK: +38.7% a year, volatility 25.0%PWR: +39.3% a year, volatility 37.2%APH: +33.8% a year, volatility 32.2%JXN: +41.7% a year, volatility 43.3%SPMO: +18.7% a year, volatility 20.8%IGPT: +14.3% a year, volatility 30.1%CAH: +42.1% a year, volatility 24.7%PBR-A: +51.8% a year, volatility 37.5%HPESPY (S&P 500)AVGODELLASXADICDNSSNPSUILLYMPCMCKPWRAPHJXNSPMOCAHPBR-A
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than HPE?

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

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

Screen the whole market against HPE for any period in BetterThanSPYOpen these 17 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 HPE?lower diversifies moreExpenseper year
HPEHewlett Packard Enterprise Company · this page
+32.9%42.2%0.89−56.9%+483%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.560.09%
Popular alternativesbest 2 shownThe investments people most often weigh against HPE. 2 of 19 passed at least one test.
AVGOBroadcom Inc. · Semiconductors
Higher return, similar volatilityHigher Sharpe, smaller worst decline+48.3%44.5%1.11−48.3%+2,380%0.35—
DELLDell Technologies Inc. · Computer Hardware
Higher return in most periods+55.2%54.4%1.08−59.6%+3,701%0.70—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Computer Hardware and the categories next to it (Semiconductors, Communications Equipment, Software, IT Services), plus HPE's specific themes. 6 of 140 passed at least one test.
ASXASE Technology Holding Co., Ltd. · Semiconductors
Higher return, similar volatility+48.8%43.0%1.15−52.5%+967%0.50—
ADIAnalog Devices, Inc. · Semiconductors
Smaller losses in recent crashes+19.5%34.1%0.69−33.6%+652%0.37—
MSIMotorola Solutions, Inc. · Communications Equipment
Smaller losses in recent crashes+14.8%23.6%0.71−32.8%+625%0.15—
CDNSCadence Design Systems, Inc. · Software
Smaller losses in recent crashes+14.8%37.2%0.56−34.2%+1,139%0.35—
SNPSSynopsys, Inc. · Software
Smaller losses in recent crashes+7.2%42.3%0.39−43.0%+656%0.27—
UIUbiquiti Inc. · Communications Equipment
Smaller losses in recent crashes+14.4%49.2%0.52−72.2%+1,194%0.05—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 81 of 3,474 passed at least one test.
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%0.12—
MPCMarathon Petroleum Corporation · Oil & Gas
On the frontierHigher return, lower volatilityHigher return in most periods+51.2%33.4%1.41−79.7%+1,387%0.26—
MCKMcKesson Corporation · Health Care Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+38.7%25.0%1.44−38.1%+586%-0.10—
PWRQuanta Services, Inc. · Engineering & Construction
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+39.3%37.2%1.08−45.5%+2,045%0.22—
APHAmphenol Corporation · Electronic Components
Similar return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+33.8%32.2%1.07−37.5%+965%0.36—
JXNJackson Financial Inc. · Life Insurance
Higher return, similar volatilityHigher Sharpe, smaller worst decline+41.7%43.3%1.03−48.4%—0.22—
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
On the frontierSmaller losses in recent crashes+18.7%20.8%0.93−30.9%+499%0.580.13%
IGPTInvesco AI and Next Gen Software ETF · Technology
Smaller losses in recent crashes+14.3%30.1%0.60−50.1%+525%0.600.57%
What these numbers mean for HPE
Annual return
HPE returned 32.9% 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 $41,500. 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
HPE's volatility over the past 5 years was 42.2%, 2.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, HPE's return lands within 42.2% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
HPE's Sharpe ratio over the past 5 years was 0.89, against 0.79 for the S&P 500, so HPE earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
HPE's worst fall from a peak to a low over the past 10 years was 56.9%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 56.9% fall takes a 132% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, HPE's monthly returns had a correlation of 0.56 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 HPE instead: the lower it is, the more that option would diversify a HPE holding. Guide: Correlation and diversification →
Show all 29 stocks and funds worth at least $500 million that earned more than HPE with less volatility

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

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with HPEExpense
1
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.12—
2
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%0.26—
3
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%-0.10—
4
PWRQuanta Services, Inc. · Engineering & Construction
Whole market+39.3%37.2%1.08−45.5%+2,045%0.22—
5
ESLTElbit Systems Ltd. · Aerospace & Defense
Whole market+39.8%34.6%1.15−35.4%+765%-0.12—
6
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.01—
7
VLOValero Energy Corporation · Oil & Gas
Whole market+44.2%36.9%1.18−71.9%+1,061%0.30—
8
DHTDHT Holdings, Inc. · Marine Shipping
Whole market+38.7%39.0%1.04−39.7%+1,050%-0.05—
9
USLMUnited States Lime & Minerals, Inc. · Construction Materials
Whole market+35.6%36.1%1.03−45.9%+803%0.24—
10
EMEEMCOR Group, Inc. · Engineering & Construction
Whole market+43.0%35.3%1.20−48.0%+1,202%0.19—
11
COKECoca-Cola Consolidated, Inc. · Food & Beverages
Whole market+41.2%38.0%1.10−51.7%+1,569%-0.09—
12
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+51.8%37.5%1.31−71.7%+768%-0.03—
13
HWMHowmet Aerospace Inc. · Aerospace & Defense
Whole market+47.3%32.5%1.36−68.9%+1,028%0.18—
14
ODCOil-Dri Corporation of America · Chemicals - Specialty
Whole market+35.9%36.9%1.02−48.9%+460%0.13—
15
GEGE Aerospace · Aerospace & Defense
Whole market+36.0%31.0%1.15−80.9%+139%0.29—
16
PBRPetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+50.3%37.5%1.28−75.3%+674%-0.03—
17
BBVABanco Bilbao Vizcaya Argentaria, S.A. · Banks
Whole market+38.7%33.3%1.16−69.6%+542%0.22—
18
IBKRInteractive Brokers Group, Inc. · Investment Banking & Brokerage
Whole market+35.4%35.4%1.04−55.1%+935%0.27—
19
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.19—
20
IMOImperial Oil Limited · Integrated Oil & Gas
Whole market+34.3%32.0%1.09−77.1%+430%0.05—
21
JBLJabil Inc. · Electronics Manufacturing
Whole market+35.8%39.6%0.97−57.3%+1,264%0.40—
22
SBSCompanhia de Saneamento Básico do Estado de São Paulo - SABESP · Water Utilities
Whole market+39.1%37.1%1.08−62.0%+293%0.07—
23
NVTnVent Electric plc · Electrical Equipment
Whole market+35.4%38.0%0.99−56.2%—0.53—
24
MLIMueller Industries, Inc. · Metal Fabrication
Whole market+38.9%33.4%1.16−53.0%+800%0.07—
25
MOG-AMoog Inc. · Aerospace & Defense
Whole market+36.6%32.0%1.14−63.7%+595%0.28—
26
IDCCInterDigital, Inc. · Intellectual Property Licensing
Whole market+39.0%36.9%1.08−64.9%+395%0.11—
27
LAURLaureate Education, Inc. · Education Services
Whole market+37.5%32.8%1.14−64.5%—0.18—
28
CAAPCorporacion America Airports S.A. · Infrastructure
Whole market+35.1%35.9%1.02−89.9%—0.16—
29
NRPNatural Resource Partners L.P. · Coal
Whole market+37.4%33.9%1.11−78.8%+632%-0.02—

HPE against its popular alternatives

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

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

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

0.0%20.0%40.0%60.0%80.0%100%120%140%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityHPE: 32.9% a year, volatility 42.2%SPY (S&P 500): 12.7% a year, volatility 17.1%QUBT: 3.7% a year, volatility 132%RGTI: 3.1% a year, volatility 131%NTNX: 13.5% a year, volatility 49.2%INTC: 12.4% a year, volatility 55.6%IONQ: 24.5% a year, volatility 102%DELL: 55.2% a year, volatility 54.4%NVDA: 58.0% a year, volatility 51.9%AMD: 35.7% a year, volatility 57.6%STX: 57.4% a year, volatility 48.7%WDC: 53.8% a year, volatility 53.5%AVGO: 48.3% a year, volatility 44.5%SMCI: 55.8% a year, volatility 89.4%ANET: 49.0% a year, volatility 49.0%MSFT: 12.5% a year, volatility 28.2%NTAP: 20.9% a year, volatility 35.3%HPQ: 5.7% a year, volatility 37.3%LOGI: 5.7% a year, volatility 37.0%CSCO: 16.8% a year, volatility 26.1%IBM: 16.6% a year, volatility 30.5%HPESPY (S&P 500)QUBTRGTINTNXINTCIONQDELLNVDAAMDSTXWDCAVGOSMCINTAPHPQLOGICSCO0.0%50.0%100%150%0.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityHPE: 32.9% a year, volatility 42.2%SPY (S&P 500): 12.7% a year, volatility 17.1%QUBT: 3.7% a year, volatility 132%RGTI: 3.1% a year, volatility 131%NTNX: 13.5% a year, volatility 49.2%INTC: 12.4% a year, volatility 55.6%IONQ: 24.5% a year, volatility 102%DELL: 55.2% a year, volatility 54.4%NVDA: 58.0% a year, volatility 51.9%AMD: 35.7% a year, volatility 57.6%STX: 57.4% a year, volatility 48.7%WDC: 53.8% a year, volatility 53.5%AVGO: 48.3% a year, volatility 44.5%SMCI: 55.8% a year, volatility 89.4%ANET: 49.0% a year, volatility 49.0%MSFT: 12.5% a year, volatility 28.2%NTAP: 20.9% a year, volatility 35.3%HPQ: 5.7% a year, volatility 37.3%LOGI: 5.7% a year, volatility 37.0%CSCO: 16.8% a year, volatility 26.1%IBM: 16.6% a year, volatility 30.5%HPESPY (S&P 500)QUBTRGTIIONQDELLNVDAAMDSTXWDCAVGOSMCIANETNTAPHPQLOGICSCOIBM
All figures
InvestmentAnnual returnVolatility
NVDA NVIDIA Corporation+58.0%51.9%
STX Seagate Technology Holdings plc+57.4%48.7%
SMCI Super Micro Computer, Inc.+55.8%89.4%
DELL Dell Technologies Inc.+55.2%54.4%
WDC Western Digital Corporation+53.8%53.5%
ANET Arista Networks, Inc.+49.0%49.0%
AVGO Broadcom Inc.+48.3%44.5%
AMD Advanced Micro Devices, Inc.+35.7%57.6%
HPE This pageHewlett Packard Enterprise Company+32.9%42.2%
IONQ IonQ, Inc.+24.5%102%
NTAP NetApp, Inc.+20.9%35.3%
CSCO Cisco Systems, Inc.+16.8%26.1%
IBM International Business Machines Corporation+16.6%30.5%
NTNX Nutanix, Inc.+13.5%49.2%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
MSFT Microsoft Corporation+12.5%28.2%
INTC Intel Corp.+12.4%55.6%
LOGI Logitech International S.A.+5.7%37.0%
HPQ HP Inc.+5.7%37.3%
QUBT Quantum Computing, Inc.+3.7%132%
RGTI Rigetti Computing, Inc.+3.1%131%
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Has HPE consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than HPE 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
HPE Hewlett Packard Enterprise Company (this page)—−9.1%+26.3%+103%+135%+150%+296%+315%+483%42.2%0.89−56.9%—$74B—
DELL QualifiedDell Technologies Inc.3/5 short3/3 long−19.6%+21.3%+127%+265%+217%+636%+800%+3,701%54.4%1.08−59.6%—$294B—
NVDA SemiconductorsNVIDIA Corporation1/5 short3/3 long−4.8%+6.6%+7.4%+14.9%+18.8%+425%+884%+13,019%51.9%1.14−66.3%—$5.2T—
AMD SemiconductorsAdvanced Micro Devices, Inc.1/5 short3/3 long−13.1%+6.2%+94.5%+139%+122%+425%+359%+7,583%57.6%0.82−65.5%—$873B—
STX Computer HardwareSeagate Technology Holdings plc1/5 short3/3 long−23.0%−15.8%+25.3%+136%+217%+975%+866%+2,698%48.7%1.18−57.0%—$154B—
WDC Computer HardwareWestern Digital Corporation1/5 short3/3 long−18.7%−25.2%−2.6%+94.3%+200%+1,030%+759%+911%53.5%1.07−70.5%—$136B—
AVGO SemiconductorsBroadcom Inc.1/5 short2/3 long−7.8%−11.4%−16.0%−3.3%−3.5%+305%+617%+2,380%44.5%1.11−48.3%—$1.6T—
SMCI Computer HardwareSuper Micro Computer, Inc.1/5 short2/3 long−21.2%+36.3%+12.7%+4.9%−41.0%+30.6%+817%+1,383%89.4%0.94−84.8%—$21B—
QUBT Computer HardwareQuantum Computing, Inc.0/5 short2/3 long−27.5%−17.9%−33.9%−41.0%−62.4%+656%+20.1%+5,317%132%0.63−99.9%—$1.5B—
ANET Computer HardwareArista Networks, Inc.0/5 short2/3 long−11.8%+7.0%+8.6%+35.6%+23.7%+289%+634%+3,439%49.0%1.06−52.2%—$229B—
MSFT Software - InfrastructureMicrosoft Corporation2/5 short1/3 long+6.0%+32.5%+27.7%+13.2%+3.8%+66.6%+80.3%+946%28.2%0.56−37.1%—$3.9T—
NTAP Computer HardwareNetApp, Inc.2/5 short1/3 long+6.2%+30.6%+97.7%+99.3%+81.9%+198%+159%+691%35.3%0.71−58.1%—$41B—
RGTI Computer HardwareRigetti Computing, Inc.0/5 short1/3 long−29.5%−18.2%−40.6%−50.6%−73.1%+872%+16.4%—131%0.65−96.9%—$3.9B—
HPQ Computer HardwareHP Inc.2/5 short0/3 long−5.3%+30.1%+62.8%+46.5%+18.6%+35.8%+31.9%+207%37.3%0.33−51.2%—$28B—
LOGI Computer HardwareLogitech International S.A.1/5 short0/3 long+5.6%+9.1%+11.0%+10.7%+0.8%+65.4%+32.1%+489%37.0%0.34−67.8%—$16B—
CSCO Communication EquipmentCisco Systems, Inc.1/5 short0/3 long−3.9%−3.2%+22.6%+42.2%+53.8%+118%+118%+374%26.1%0.73−42.0%—$421B—
IBM Information Technology ServicesInternational Business Machines Corporation1/5 short0/3 long+4.3%+14.4%−3.3%−15.3%−12.5%+93.5%+116%+151%30.5%0.66−41.1%—$228B—
NTNX Software - InfrastructureNutanix, Inc.1/5 short0/3 long−2.6%+23.8%+68.0%+34.8%−0.1%+90.0%+88.3%+139%49.2%0.50−80.4%—$18B—
INTC SemiconductorsIntel Corp.0/5 short0/3 long−24.7%−5.5%+39.6%+133%+141%+167%+79.8%+219%55.6%0.49−70.8%—$485B—
IONQ Computer HardwareIonQ, Inc.0/5 short0/3 long−22.8%−8.7%−35.3%−33.2%−47.8%+148%+199%—102%0.71−90.0%—$13B—
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How did HPE do year by year?

This table shows each investment's total return in every full calendar year since 2016, along with where HPE ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with HPE and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: HPE began trading on October 19, 2015, so the table starts with 2016, its first full calendar year, and cannot show how it fared during the dot-com bust, the 2008 financial crisis or two other sell-offs.

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

InvestmentYears ahead of HPE2025202420232022202120202019201820172016
HPE This pageHewlett Packard Enterprise Company—+15.5%+29.1%+9.7%+4.5%+37.4%−21.9%+23.7%−5.7%+8.6%+54.2%
Rank among alternativesTop quarter in 2 of 1013 of 2010 of 2018 of 203 of 2012 of 1818 of 1810 of 1812 of 1815 of 184 of 16
SPY S&P 500State Street SPDR S&P 500 ETF6 of 10+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%
DELL Dell Technologies Inc.6 of 9+11.2%+53.0%+95.9%−26.6%+51.3%+42.6%+5.1%+8.6%+47.8%—
NVDA NVIDIA Corporation8 of 10+38.9%+171%+239%−50.2%+125%+122%+76.4%−30.8%+82.5%+228%
AMD Advanced Micro Devices, Inc.7 of 10+77.3%−18.1%+128%−55.0%+56.9%+100.0%+148%+79.6%−9.3%+295%
STX Seagate Technology Holdings plc7 of 10+225%+4.1%+69.1%−51.4%+87.5%+10.2%+62.1%−2.9%+13.4%+13.4%
WDC Western Digital Corporation5 of 10+284%+13.9%+66.0%−51.6%+17.7%−10.9%+77.1%−51.9%+19.8%+17.5%
AVGO Broadcom Inc.8 of 10+50.6%+110%+104%−13.3%+56.5%+45.0%+29.0%+2.2%+48.2%+23.6%
SMCI Super Micro Computer, Inc.4 of 10−4.0%+7.2%+246%+87.0%+38.5%+32.1%+73.9%−34.0%−25.6%+14.7%
QUBT Quantum Computing, Inc.4 of 10−38.0%+1,712%−39.5%−55.7%−75.8%+370%0.0%+275%+300%+25.0%
ANET Arista Networks, Inc.6 of 10+18.6%+87.7%+94.1%−15.6%+97.9%+42.9%−3.5%−10.5%+143%+24.2%
MSFT Microsoft Corporation6 of 10+15.6%+12.9%+58.2%−28.0%+52.5%+42.5%+57.6%+20.8%+40.8%+15.1%
NTAP NetApp, Inc.6 of 10−5.9%+34.2%+51.1%−32.9%+42.5%+10.9%+7.4%+9.7%+59.9%+36.6%
RGTI Rigetti Computing, Inc.3 of 4+45.1%+1,449%+35.1%−92.9%——————
HPQ HP Inc.5 of 10−28.7%+12.2%+16.1%−26.4%+57.2%+24.3%+3.9%−0.2%+43.5%+31.2%
LOGI Logitech International S.A.6 of 10+23.4%−12.0%+55.2%−22.9%−14.3%+109%+53.5%−5.7%+38.1%+68.8%
CSCO Cisco Systems, Inc.5 of 10+33.5%+21.0%+9.3%−22.5%+45.8%−3.5%+13.8%+16.6%+31.3%+15.1%
IBM International Business Machines Corporation5 of 10+38.2%+39.3%+21.9%+10.6%+16.6%−1.2%+23.6%−22.6%−4.9%+25.2%
NTNX Nutanix, Inc.4 of 9−15.5%+28.3%+83.1%−18.2%0.0%+1.9%−24.8%+17.9%+32.8%—
INTC Intel Corp.6 of 10+84.0%−59.6%+94.5%−46.6%+6.0%−14.7%+30.7%+4.2%+30.9%+8.7%
IONQ IonQ, Inc.2 of 4+7.4%+237%+259%−79.3%——————
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Risk and diversification

How HPE 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 HPE's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents HPE's five deepest drawdowns since it began trading in 2015, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Note: HPE began trading on October 19, 2015, so this list cannot include the dot-com bust, the 2008 financial crisis or two other sell-offs. The crash tests on this page show how older funds and the S&P 500 fared through those years.

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

DuringHPE fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Late-2018 sell-off−56.9%−14.7%Mar 2018Mar 20202 yearsJan 202222 months
No named crash−48.3%−17.9%Jan 2025Apr 20253 monthsSep 20255 months
2022 bear market−30.5%−22.0%Mar 2022Sep 20226 monthsJun 20239 months
2015 China and oil sell-off−28.8%−10.0%Oct 2015Jan 20163 monthsMar 20162 months
No named crash−26.4%−1.7%Jun 2026Jul 20261 monthAug 20261 month

How did HPE do in stock market crashes?

This section measures how far HPE, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: HPE began trading on October 19, 2015, so its row reads "Not yet trading" for the dot-com bust, the 2008 financial crisis or three other sell-offs. The older alternatives and the S&P 500 show how those crashes played out.

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

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
HPE This pageHewlett Packard Enterprise Company—−7.2%−30.5%−45.3%−27.4%−9.6%Not yet tradingNot yet tradingNot yet tradingNot yet tradingNot yet trading
SPY S&P 500State Street SPDR S&P 500 ETF5 of 5−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
DELL Dell Technologies Inc.2 of 5−5.7%−43.6%−45.9%−28.6%−7.4%—————
NVDA NVIDIA Corporation3 of 5−5.0%−60.7%−37.5%−55.9%−8.5%−25.3%−23.8%−1.7%−85.1%−89.7%
AMD Advanced Micro Devices, Inc.2 of 5−3.9%−60.1%−34.3%−48.9%−9.9%−40.0%−41.5%0.0%−87.6%−93.3%
STX Seagate Technology Holdings plc4 of 5−5.2%−54.0%−25.6%−25.4%−8.4%−48.9%−34.8%−0.5%−88.7%—
WDC Western Digital Corporation1 of 5−6.8%−52.4%−58.0%−41.8%−6.0%−53.0%−35.4%−1.1%−75.2%−76.5%
AVGO Broadcom Inc.3 of 5−2.8%−34.3%−46.8%−15.2%−4.5%−21.6%−26.7%0.0%——
SMCI Super Micro Computer, Inc.1 of 5−12.8%−31.2%−42.6%−45.6%−9.7%−32.4%−22.7%0.0%−64.3%—
QUBT Quantum Computing, Inc.0 of 5−14.0%−57.1%−72.4%−78.2%−40.4%−83.3%−51.9%−15.2%−75.0%—
ANET Arista Networks, Inc.3 of 5−1.5%−36.6%−31.2%−31.2%−6.1%−36.6%————
MSFT Microsoft Corporation4 of 5−2.0%−31.0%−27.7%−18.2%−7.4%−14.4%−14.1%−2.6%−57.9%−62.9%
NTAP NetApp, Inc.3 of 5−5.4%−34.3%−34.2%−36.6%−7.3%−38.4%−34.2%−4.7%−67.6%−96.2%
RGTI Rigetti Computing, Inc.0 of 2−18.1%−83.1%————————
HPQ HP Inc.3 of 5−3.3%−37.9%−43.3%−26.1%−11.3%−37.8%−40.4%−3.2%−51.7%−82.9%
LOGI Logitech International S.A.3 of 5−0.8%−48.3%−21.3%−35.9%−8.3%−14.3%−33.7%−3.0%−79.4%−59.0%
CSCO Cisco Systems, Inc.4 of 5−1.4%−35.4%−29.1%−17.5%−5.3%−22.8%−16.6%−3.1%−60.0%−89.3%
IBM International Business Machines Corporation4 of 5−2.0%−16.7%−37.3%−29.1%−6.3%−23.3%−14.6%−1.5%−44.3%−58.3%
NTNX Nutanix, Inc.2 of 5−7.0%−55.9%−66.6%−22.6%−4.0%—————
INTC Intel Corp.4 of 5−1.0%−54.1%−33.5%−13.0%−6.7%−19.7%−16.2%−0.9%−55.2%−82.3%
IONQ IonQ, Inc.0 of 2−9.9%−74.2%————————
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How closely does HPE 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 HPE 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 HPE's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
HPE This pageHewlett Packard Enterprise Company116%102%1.141.31
DELL Dell Technologies Inc.154%43%3.591.13
STX Seagate Technology Holdings plc169%88%1.931.58
ANET Arista Networks, Inc.174%91%1.921.40
AVGO Broadcom Inc.158%86%1.851.19
NVDA NVIDIA Corporation248%140%1.771.83
AMD Advanced Micro Devices, Inc.254%179%1.422.25
MSFT Microsoft Corporation127%91%1.390.96
QUBT Quantum Computing, Inc.257%207%1.243.79
SMCI Super Micro Computer, Inc.189%168%1.121.74
CSCO Cisco Systems, Inc.101%96%1.060.97
WDC Western Digital Corporation171%163%1.051.87
LOGI Logitech International S.A.112%106%1.051.01
NTAP NetApp, Inc.147%147%1.001.38
INTC Intel Corp.98%100%0.981.43
HPQ HP Inc.106%137%0.771.11
NTNX Nutanix, Inc.68%91%0.751.20
IBM International Business Machines Corporation89%121%0.730.95
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What diversifies HPE?

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

ETFs

InvestmentCorrelation5Y returnSharpe2020201880/20 mix volatility80/20 mix annual return
HPE Hewlett Packard Enterprise Company (this page)1.00+315%0.89−21.9%−5.7%39.1%+38.7%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.15+119%1.48−9.0%−5.2%31.6%+35.4%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.28+225%1.34+3.9%−19.8%32.1%+37.6%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.13+101%1.04−13.4%−8.7%31.8%+35.1%
HDV Dividend & IncomeiShares Core High Dividend ETF0.19+83.3%1.00−6.5%−3.0%31.9%+34.3%
FTLS Broad MarketFirst Trust Long/Short Equity ETF0.47+62.9%0.99+2.6%−4.8%32.1%+33.8%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.38+85.0%0.96+2.1%−9.5%32.2%+34.5%
GLD CommoditiesSPDR Gold Shares-0.19+126%0.96+24.8%−1.9%30.8%+36.3%
XLE EnergyState Street Energy Select Sector SPDR ETF0.14+177%0.93−32.7%−18.2%32.4%+37.2%

Stocks

InvestmentCorrelation5Y returnSharpe2020201880/20 mix volatility80/20 mix annual return
HPE Hewlett Packard Enterprise Company (this page)1.00+315%0.89−21.9%−5.7%39.1%+38.7%
CAH Medical - DistributionCardinal Health, Inc.0.01+479%1.55+10.1%−24.5%31.8%+40.6%
CLS Hardware, Equipment & PartsCelestica Inc.0.31+3,143%1.47−2.4%−16.3%36.6%+54.2%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.17+1,636%1.46+6.7%+0.8%34.0%+50.4%
MCK Medical - DistributionMcKesson Corporation-0.10+413%1.44+27.1%−28.4%31.2%+40.1%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.26+690%1.41−27.4%−8.2%33.6%+42.4%
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Common questions

What was HPE's worst drawdown?

HPE's deepest decline since it began trading in 2015 was 56.9%, from March 2018 to March 2020. It took 22 months from the low to climb back to its old high. Because HPE launched in October 2015, that record does not include the dot-com bust, the 2008 financial crisis or two other sell-offs.

What were HPE's best and worst years?

Over ten full calendar years, HPE's best year was 2016, when it returned 54.2%. Its worst was 2020, with a return of -21.9%.

Is there a better investment than HPE?

Among HPE's popular alternatives, AVGO earned more for the risk it took than HPE over the past 5 years, and its worst fall in 10 years was 48.3%, against 56.9% for HPE. Looking beyond its popular alternatives, ASX (semiconductors) earned more than HPE over the past 5 years with similar volatility: 48.8% a year at 43.0% volatility, against 32.9% a year at 42.2%.

Is HPE more volatile than the S&P 500?

Yes. HPE's volatility over the past 5 years was 42.2%, 2.5 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, HPE's return lands within 42.2% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is HPE's Sharpe ratio?

HPE's Sharpe ratio over the past 5 years was 0.89, against 0.79 for the S&P 500, so HPE earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is HPE with the S&P 500?

Over the past 5 years, HPE's monthly returns had a correlation of 0.56 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 HPE instead: the lower it is, the more that option would diversify a HPE holding.

What are the best alternatives to HPE?

Of the 19 popular alternatives we compared, one outperformed HPE in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: DELL.

Did HPE outperform the S&P 500?

HPE finished ahead of the S&P 500 (SPY) in four of ten full calendar years. In 2025, it returned +15.5%, against +17.7% for the index.

How did HPE do in stock market crashes?

HPE fell less than the S&P 500 (SPY) in none of the five major crashes it has traded through, and further in five. The clearest case was the Covid crash, when HPE fell 45.3% and the S&P 500 fell 33.7%.

What diversifies HPE?

These had a low correlation with HPE over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.15), DXJ (correlation 0.28) and EMLP (correlation 0.13); among large stocks, CAH (correlation 0.01), CLS (correlation 0.31) and FIX (correlation 0.17). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to HPE