# How Intuitive Surgical (ISRG) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/isrg
> 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 ISRG alone. It places ISRG (Intuitive Surgical, Inc.) against 17 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where ISRG stands in the market, and of the alternatives worth a closer look.

Period covered: ISRG's full trading record, from June 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:** ISRG has run far ahead of the market, rising 24.0% over the past 3 months against 3.9% for the S&P 500 and 3.2% for the Nasdaq 100. On the flip side, it is 28.2% below its high, bear-market territory, while the S&P 500 sits 1.3% below a record.
- **Stock or market?:** ISRG's 24.0% gain over the past 3 months far outran its industry: the medical devices ETF IHI (iShares U.S. Medical Devices ETF) rose 7.5%. The S&P 500 rose 3.9%. Last month cut against the tape: ISRG rose 9.0% while the S&P 500 fell 0.6%.
- **Past 1 to 3 years:** Over the past year, ISRG fell 4.5% while the S&P 500 rose 15.8%. The same gap shows up over 3 years (64.1% against 89.3%).
- **Long term:** ISRG turned $10,000 into $57,800 over the past decade, against $42,100 in the S&P 500. Even so, over 5 years ISRG trailed the index: 28.9% against 81.7%.
- **In a crash:** Across six sell-offs, ISRG has typically fallen 1.3 times as far as the S&P 500. In the 2022 bear market, ISRG fell 47.6%, against 24.5% for the S&P 500. That was more than JNJ (Johnson & Johnson, 12.7%) but less than PEN (Penumbra, 58.0%).
- **Diversification:** Against the S&P 500, ISRG has a correlation of 0.65 over 5 years, more closely than 96% of stocks worth at least $300 million. Next to an index fund it is more of the same, not a cushion.
- **Better options**
  - **Nearby categories and themes:** LLY (Eli Lilly and Company, pharmaceuticals) and MCK (McKesson, health care distribution) earned more than ISRG with less volatility over the past 5 years. LLY returned 40.7% a year at 32.8% volatility, against 5.2% a year at 34.6%.
  - **Versus the S&P 500:** Simply owning the S&P 500 would have done better over the past 5 years: 12.7% a year at 17.1% volatility, against 5.2% at 34.6% for ISRG.
  - **Whole market:** 1,103 of the 3,633 stocks and funds worth at least $500 million earned more than ISRG with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and MSFT (Microsoft).

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

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

- $10,000 invested in ISRG at the end of September 2000 would have grown to $1,557,980 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 ISRG, and MNST finished highest, at $14,696,345.

## ISRG 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.

- ISRG is still 28.2% below its all-time high.
- ISRG's deepest decline since it began trading in 2000 was 82.2%, from July 2000 to April 2001. It took about four years from the low to climb back to its old high.
- Over 25 full calendar years, ISRG's best was 2007, when it returned 237%, and its worst was 2008, when it lost 60.7%. It lost money in six of those years.

- Type: Stock, Healthcare (Medical - Instruments & Supplies)
- Trading since: June 16, 2000
- Market value: $155B
- Volatility (5 years): 34.6%; Sharpe ratio: 0.32
- Worst decline ever: −82.2%, from July 31, 2000 to April 11, 2001; back at its high by December 21, 2004

| Period | ISRG total return |
| --- | --- |
| 1 month | +9.0% |
| 3 months | +24.0% |
| 6 months | −5.9% |
| year to date | −22.1% |
| 1 year | −4.5% |
| 3 years | +64.1% |
| 5 years | +28.9% |
| 10 years | +478% |

## ISRG against the whole market

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

### How does ISRG rank among all stocks?

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

- ISRG's 10-year return ranks in the top 15% of the 2,202 stocks worth at least $300 million with 10 years of history.

| Measure | ISRG | Rank |
| --- | --- | --- |
| 1-year return | −4.5% | 2,165 of 3,287 (top 66%) |
| 3-year return | +64.1% | 1,342 of 3,017 (top 45%) |
| 5-year return | +28.9% | 1,350 of 2,893 (top 47%) |
| 10-year return | +478% | 327 of 2,202 (top 15%) |
| Volatility, 5 years | 34.6% | 1,111 of 2,893 (top 39%) |
| Sharpe ratio, 5 years | 0.32 | 1,484 of 2,893 (top 52%) |
| Worst decline, past 10 years | −49.9% | 455 of 2,187 (top 21%) |

### What has beaten ISRG 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).

- 507 stocks and 596 ETFs worth at least $500 million sit in the green region: each earned more than ISRG over the past 5 years with smaller price swings. That is 30% of the 3,633 screened.
- Among those with at least half ISRG's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 28% less than ISRG's 34.6%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.32 for ISRG. HWM earned the most, 47.3% a year, while still swinging less than ISRG (32.5% against 34.6%).
- Among ISRG's popular alternatives, JNJ and HCA are in the region. JNJ earned 12.7% a year against 5.2% a year for ISRG, at 17.9% volatility, 48% less than ISRG's 34.6%.

### Is there a better investment than ISRG?

The table below lists investments that beat ISRG 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 ISRG's popular alternatives, JNJ and HCA earned more than ISRG with less volatility over the past 5 years. JNJ returned 12.7% a year at 17.9% volatility, against 5.2% a year at 34.6%.
- Looking beyond its popular alternatives, LLY (pharmaceuticals) and MCK (health care distribution) earned more than ISRG with less volatility over the past 5 years. LLY returned 40.7% a year at 32.8% volatility, against 5.2% a year at 34.6%.
- Simply owning the S&P 500 would have done better over the past 5 years: 12.7% a year at 17.1% volatility, against 5.2% at 34.6% for ISRG.

The 15 strongest of 1,103 investments that beat ISRG 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 ISRG | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ISRG: Intuitive Surgical, Inc. (this page) |  | +5.2% | 34.6% | 0.32 | −49.9% | +478% |  |  |
| [GOOG](https://easycompare.io/research/goog): Alphabet Inc. | Internet Services | +19.0% | 32.0% | 0.71 | −44.6% | +752% | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [PGR](https://easycompare.io/research/pgr): The Progressive Corporation | Property & Casualty Insurance | +21.3% | 25.6% | 0.89 | −30.3% | +816% | 0.15 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.32 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [FAST](https://easycompare.io/research/fast): Fastenal Company | Industrial Distribution | +15.8% | 24.6% | 0.72 | −30.7% | +576% | 0.21 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [AAPL](https://easycompare.io/research/aapl): Apple Inc. | Computer Hardware | +18.5% | 28.0% | 0.75 | −38.5% | +1,168% | 0.42 | 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% | 0.38 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VTI](https://easycompare.io/research/vti): Vanguard Morningstar Total Stock Market ETF | US Total Market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.64 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| IWY: iShares Russell Top 200 Growth ETF | US Large-Cap Growth | +12.9% | 21.9% | 0.67 | −32.7% | +466% | 0.61 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VOO](https://easycompare.io/research/voo): Vanguard S&P 500 ETF | US Large-Cap Equity | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.65 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [JPM](https://easycompare.io/research/jpm): JPMorgan Chase & Co. | Banks | +17.3% | 24.3% | 0.78 | −43.6% | +537% | 0.52 | 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% | 0.51 | 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% | 0.34 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | International Equity | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.32 | 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% | 0.34 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [COST](https://easycompare.io/research/cost): Costco Wholesale Corporation | Discount Retail | +17.4% | 22.9% | 0.82 | −31.4% | +685% | 0.50 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## ISRG against its popular alternatives

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

### How do ISRG'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 HCA and JNJ were both more rewarding and calmer than ISRG over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, ISRG returned 5.2% a year, less than the S&P 500's 12.7%, with higher volatility (34.6% against 17.1%).

### Has ISRG consistently beaten its popular alternatives?

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

- Three of the 17 popular alternatives, THC, HCA and JNJ, outperformed ISRG in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- THC and HCA outperformed ISRG in every long-term period and in all but one short-term period, the most consistent record in the group.
- JNJ earned more for the risk it took than ISRG (a higher Sharpe ratio) and fell less in its worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of ISRG | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| ISRG: Intuitive Surgical, Inc. (this page) | −4.5% | +64.1% | +28.9% | +478% |  |  | 0.32 |
| THC: Tenet Healthcare Corporation | +34.7% | +399% | +315% | +1,058% | 4/5 short-term, 3/3 long-term | all-weather | 0.86 |
| [HCA](https://easycompare.io/research/hca): HCA Healthcare, Inc. | +8.3% | +97.6% | +93.6% | +513% | 4/5 short-term, 3/3 long-term | all-weather | 0.59 |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | +36.9% | +84.6% | +82.1% | +196% | 3/5 short-term, 2/3 long-term | consistent | 0.76 |
| [BDX](https://easycompare.io/research/bdx): Becton, Dickinson and Company | +32.3% | +1.6% | +12.2% | +71.4% | 4/5 short-term, 0/3 long-term |  | 0.22 |
| PEN: Penumbra, Inc. | +31.0% | +57.8% | +18.5% | +333% | 3/5 short-term, 0/3 long-term |  | 0.28 |
| [EW](https://easycompare.io/research/ew): Edwards Lifesciences Corporation | +17.3% | +27.1% | −23.6% | +125% | 3/5 short-term, 0/3 long-term |  | 0.01 |
| [MDT](https://easycompare.io/research/mdt): Medtronic Plc | +1.9% | +43.6% | −8.8% | +46.7% | 3/5 short-term, 0/3 long-term |  | 0.03 |
| CNMD: CONMED Corporation | −0.4% | −47.3% | −65.9% | +30.2% | 3/5 short-term, 0/3 long-term |  | -0.32 |
| STE: STERIS plc | −6.0% | +7.0% | +4.5% | +262% | 2/5 short-term, 0/3 long-term |  | 0.17 |
| GMED: Globus Medical, Inc. | +28.2% | +53.9% | +1.3% | +243% | 2/5 short-term, 0/3 long-term |  | 0.20 |
| [SYK](https://easycompare.io/research/syk): Stryker Corporation | −19.2% | +18.0% | +17.2% | +197% | 2/5 short-term, 0/3 long-term |  | 0.25 |
| ZBH: Zimmer Biomet Holdings, Inc. | −5.6% | −5.5% | −31.1% | −16.1% | 2/5 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 |
| SNN: Smith & Nephew plc | −17.1% | +41.6% | −5.9% | +20.5% | 1/5 short-term, 0/3 long-term |  | 0.09 |
| [BSX](https://easycompare.io/research/bsx): Boston Scientific Corporation | −54.7% | −8.9% | +2.5% | +98.1% | 0/5 short-term, 0/3 long-term |  | 0.15 |
| PRCT: PROCEPT BioRobotics Corporation | −45.8% | −32.0% | −56.3% | — | 0/5 short-term, 0/3 long-term |  | 0.06 |
| SSII: SS Innovations International, Inc. | −74.5% | — | — | — | 0/5 short-term, 0/3 long-term |  | — |

### How did ISRG do year by year?

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

- Ranked against its popular alternatives each year, ISRG finished in the top quarter in 12 of 25 years and in the bottom quarter in eight. In 2025, it ranked 9 of 18.
- ISRG finished ahead of the S&P 500 in 16 of its 25 full calendar years.
- Among its popular alternatives, EW came out ahead of ISRG most often, in 13 of the 25 years both traded.

| Year | ISRG | SPY |
| --- | --- | --- |
| 2025 | +8.5% | +17.7% |
| 2024 | +54.7% | +24.9% |
| 2023 | +27.1% | +26.2% |
| 2022 | −26.2% | −18.2% |
| 2021 | +31.8% | +28.7% |
| 2020 | +38.4% | +18.3% |
| 2019 | +23.4% | +31.2% |
| 2018 | +31.2% | −4.6% |
| 2017 | +72.7% | +21.7% |
| 2016 | +16.1% | +12.0% |

## Risk and diversification

How ISRG 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 ISRG's worst declines?

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

- In all five of ISRG's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: ISRG fell 45.6% from January 2025 to July 2026, while the S&P 500 rose 23.8%.
- The slowest recovery came after ISRG fell 82.2% from July 2000 to April 2001; it did not regain that peak until December 2004, four years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −82.2% | July 31, 2000 | April 11, 2001 | December 21, 2004 | −17.7% | dot-com bust |
| −75.9% | April 10, 2008 | March 2, 2009 | March 1, 2010 | −47.1% | 2008 financial crisis |
| −49.9% | November 8, 2021 | October 14, 2022 | January 18, 2024 | −22.6% | 2022 bear market |
| −45.6% | January 22, 2025 | July 23, 2026 | not yet | +23.8% |  |
| −40.5% | February 20, 2020 | March 23, 2020 | July 17, 2020 | −33.4% | Covid crash |

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

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

- ISRG fell further than the S&P 500 in eight of the nine crashes it has traded through. The clearest case was the 2022 bear market, when ISRG fell 47.6% and the S&P 500 fell 24.5%.
- Among its popular alternatives, JNJ held up best, falling less than ISRG in eight of the nine crashes they both traded through.
- ISRG began trading after the dot-com bust, but eight of its popular alternatives lived through it. The mildest fall among them was THC's 20.4%, against 47.5% for the S&P 500.

| Crash | Dates | ISRG 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 | −75.9% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −3.8% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −20.6% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −14.7% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −8.4% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −24.3% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −40.5% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −47.6% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −2.7% | −3.4% |

### How closely does ISRG 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.

- HCA took just 140% of the S&P 500's losses, against 154% for ISRG, while still keeping 135% of its gains.
- Over the past 10 years, ISRG captured 136% of the S&P 500's gains in rising months and 154% of its losses in falling months, with a beta of 1.28. It amplified the market's moves in both directions.
- Five of the 14 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than ISRG's 0.88, led by PEN, JNJ and THC.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| ISRG: Intuitive Surgical, Inc. (this page) | 136% | 154% | 1.28 |
| THC: Tenet Healthcare Corporation | 173% | 168% | 1.87 |
| [HCA](https://easycompare.io/research/hca): HCA Healthcare, Inc. | 135% | 140% | 1.37 |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | 64.0% | 53.0% | 0.46 |
| [BDX](https://easycompare.io/research/bdx): Becton, Dickinson and Company | 53.0% | 77.0% | 0.48 |
| PEN: Penumbra, Inc. | 70.0% | 40.0% | 0.52 |
| [EW](https://easycompare.io/research/ew): Edwards Lifesciences Corporation | 88.0% | 120% | 0.97 |
| [MDT](https://easycompare.io/research/mdt): Medtronic Plc | 62.0% | 105% | 0.68 |
| CNMD: CONMED Corporation | 90.0% | 159% | 1.25 |
| STE: STERIS plc | 89.0% | 97.0% | 0.76 |
| GMED: Globus Medical, Inc. | 118% | 148% | 1.03 |
| [SYK](https://easycompare.io/research/syk): Stryker Corporation | 82.0% | 96.0% | 0.88 |
| ZBH: Zimmer Biomet Holdings, Inc. | 62.0% | 139% | 0.88 |
| SNN: Smith & Nephew plc | 50.0% | 98.0% | 0.63 |
| [BSX](https://easycompare.io/research/bsx): Boston Scientific Corporation | 76.0% | 109% | 0.72 |

### What diversifies ISRG?

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 ISRG into GLD would have cut the portfolio's volatility by 18% over the past 5 years and raised its annual return (+4.2% for ISRG alone, +8.0% for the mix).
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of ISRG over the past 5 years, with correlations of 0.38 or lower, and each still earned a positive 5-year return.
- XLE made money in four of the six calendar years in which ISRG lost money.

| Investment | Correlation with ISRG | 5Y return | Volatility | Sharpe | Rose in ISRG's 6 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.32 | +119% | 11.1% | 1.48 | 1 of 6 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.34 | +225% | 19.1% | 1.34 | 2 of 6 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.38 | +101% | 14.5% | 1.04 | 2 of 6 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.38 | +323% | 36.9% | 0.97 | 2 of 6 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.10 | +126% | 18.9% | 0.96 | 3 of 6 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.16 | +177% | 25.5% | 0.93 | 4 of 6 |
| DFIV: Dimensional - International Value ETF | 0.38 | +99.4% | 16.4% | 0.93 | 0 of 6 |
| VLUE: iShares MSCI USA Value Factor ETF | 0.42 | +109% | 18.4% | 0.90 | 0 of 6 |

## Common questions

### What was ISRG's worst drawdown?

ISRG's deepest decline since it began trading in 2000 was 82.2%, from July 2000 to April 2001. It took about four years from the low to climb back to its old high.

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

Over 25 full calendar years, ISRG's best year was 2007, when it returned 237%. Its worst was 2008, with a return of -60.7%.

### Is there a better investment than ISRG?

Among ISRG's popular alternatives, JNJ and HCA earned more than ISRG with less volatility over the past 5 years. JNJ returned 12.7% a year at 17.9% volatility, against 5.2% a year at 34.6%. Looking beyond its popular alternatives, LLY (pharmaceuticals) and MCK (health care distribution) earned more than ISRG with less volatility over the past 5 years. LLY returned 40.7% a year at 32.8% volatility, against 5.2% a year at 34.6%.

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

Yes. ISRG's volatility over the past 5 years was 34.6%, 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, ISRG's return lands within 34.6% 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 ISRG's Sharpe ratio?

ISRG's Sharpe ratio over the past 5 years was 0.32, against 0.79 for the S&P 500, so ISRG 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 ISRG with the S&P 500?

Over the past 5 years, ISRG's monthly returns had a correlation of 0.65 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 ISRG instead: the lower it is, the more that option would diversify a ISRG holding.

### What are the best alternatives to ISRG?

Of the 17 popular alternatives we compared, three outperformed ISRG in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: THC, HCA and JNJ.

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

ISRG finished ahead of the S&P 500 (SPY) in 16 of 25 full calendar years. In 2025, it returned +8.5%, against +17.7% for the index.

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

ISRG fell less than the S&P 500 (SPY) in one of the nine major crashes it has traded through, and further in eight. The clearest case was the 2022 bear market, when ISRG fell 47.6% and the S&P 500 fell 24.5%.

### What diversifies ISRG?

These had a low correlation with ISRG over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.32), DXJ (correlation 0.34) and EMLP (correlation 0.38); among large stocks, CAH (correlation 0.45), CLS (correlation 0.32) and FIX (correlation 0.30). A correlation near zero means the two have moved largely independently.

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## Explore further

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