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Relative Intelligence · Semiconductor Equipment

How KLA (KLAC) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on KLAC alone. It places KLAC (KLA Corporation) against 20+ 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 KLAC stands in the market, and of the alternatives worth a closer look.

Period covered: KLAC's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

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

Rank the market against KLAC →Chart KLAC vs. 22 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in KLAC over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of KLAC over the same span and KLAC's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 29 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of KLAC; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M$10M199720022007201220172022$10,000$100,000$1M$10M19972004201120182025
  • AAPL$21M+205,249% total · +30.1% a year
  • AMZN$11M+114,749% total · +27.5% a year
  • LRCX$2M+24,786% total · +21.0% a year
  • ESLT$2M+16,428% total · +19.3% a year
  • EME$2M+16,257% total · +19.2% a year
  • KLAC$1M+10,976% total · +17.6% a year
  • ASML$984,088+9,741% total · +17.1% a year
  • MU$629,766+6,198% total · +15.4% a year
  • TER$161,859+1,519% total · +10.1% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
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From the end of September 2021 to the end of September 2026. 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. 79 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of KLAC; 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
  • MU$153,675+1,437% total · +72.7% a year
  • STX$128,799+1,188% total · +66.7% a year
  • NVDA$110,811+1,008% total · +61.8% a year
  • ANET$94,783+848% total · +56.8% a year
  • ASX$70,798+608% total · +47.9% a year
  • KLAC$61,203+512% total · +43.7% a year
  • LRCX$60,701+507% total · +43.4% a year
  • TSM$43,622+336% total · +34.3% a year
  • TER$37,422+274% total · +30.2% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
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KLAC at a glance

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

The company

Market value
$211B
Industry
Semiconductors
Price history from
October 1986

Returns

Past 1 year
+41.0%total return
Past 3 years
+258%+53.0% a year
Past 5 years
+413%+38.7% a year
Past 10 years
+2,534%+38.7% a year
Best calendar year
+157%1999
Worst calendar year
−53.5%2008
Losing years
7 of 29full calendar years

Risk

Volatility
46.7%typical yearly swing, 5 years
Sharpe ratio
0.94return per unit of risk, 5 years
Worst decline ever
−83.8%Apr 2000 to Nov 2008
From its all-time high
−46.3%below the peak

KLAC against the whole market

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

How does KLAC rank among all stocks?

This section ranks KLAC 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 KLAC 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.

MeasureKLACRankStanding
1-year return+41.0%710 of 3,287top 22%
3-year return+258%288 of 3,017top 10%
5-year return+413%95 of 2,893top 3%
10-year return+2,534%29 of 2,202top 1%
Volatility, 5 years46.7%1,779 of 2,893bottom 40%
Sharpe ratio, 5 years0.94141 of 2,893top 5%
Worst decline, past 10 years−46.3%331 of 2,187top 15%

What has beaten KLAC 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). KLAC sits where the dashed lines cross. Anything in the green box above and to the left earned more than KLAC 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 KLAC; faint dots are 12 more of the 18 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%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than KLACMPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%TK: +47.1% a year, volatility 41.7%HWM: +47.3% a year, volatility 32.5%PBR: +50.3% a year, volatility 37.5%INSW: +56.5% a year, volatility 40.5%VLO: +44.2% a year, volatility 36.9%TRGP: +41.8% a year, volatility 31.7%EME: +43.0% a year, volatility 35.3%FTI: +54.1% a year, volatility 41.3%COKE: +41.2% a year, volatility 38.0%LPG: +54.6% a year, volatility 43.6%KLAC: +38.7% a year, volatility 46.7%SPY (S&P 500): +12.7% a year, volatility 17.1%MU: +68.1% a year, volatility 57.1%LRCX: +37.4% a year, volatility 49.9%ASX: +48.8% a year, volatility 43.0%ANET: +49.0% a year, volatility 49.0%STX: +57.4% a year, volatility 48.7%NVDA: +58.0% a year, volatility 51.9%AMD: +35.7% a year, volatility 57.6%DELL: +55.2% a year, volatility 54.4%ESLT: +39.8% a year, volatility 34.6%ATI: +61.8% a year, volatility 42.9%LLY: +40.7% a year, volatility 32.8%FIX: +77.0% a year, volatility 46.7%JXN: +41.7% a year, volatility 43.3%MCK: +38.7% a year, volatility 25.0%CAH: +42.1% a year, volatility 24.7%KLACSPY (S&P 500)MULRCXASXANETSTXNVDAAMDDELLESLTATILLYFIXJXNMCKCAH10.0%20.0%30.0%40.0%50.0%60.0%0.0%20.0%40.0%60.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than KLACMPC: +51.2% a year, volatility 33.4%PBR-A: +51.8% a year, volatility 37.5%TK: +47.1% a year, volatility 41.7%HWM: +47.3% a year, volatility 32.5%PBR: +50.3% a year, volatility 37.5%INSW: +56.5% a year, volatility 40.5%VLO: +44.2% a year, volatility 36.9%TRGP: +41.8% a year, volatility 31.7%EME: +43.0% a year, volatility 35.3%FTI: +54.1% a year, volatility 41.3%COKE: +41.2% a year, volatility 38.0%LPG: +54.6% a year, volatility 43.6%KLAC: +38.7% a year, volatility 46.7%SPY (S&P 500): +12.7% a year, volatility 17.1%MU: +68.1% a year, volatility 57.1%LRCX: +37.4% a year, volatility 49.9%ASX: +48.8% a year, volatility 43.0%ANET: +49.0% a year, volatility 49.0%STX: +57.4% a year, volatility 48.7%NVDA: +58.0% a year, volatility 51.9%AMD: +35.7% a year, volatility 57.6%DELL: +55.2% a year, volatility 54.4%ESLT: +39.8% a year, volatility 34.6%ATI: +61.8% a year, volatility 42.9%LLY: +40.7% a year, volatility 32.8%FIX: +77.0% a year, volatility 46.7%JXN: +41.7% a year, volatility 43.3%MCK: +38.7% a year, volatility 25.0%CAH: +42.1% a year, volatility 24.7%KLACSPY (S&P 500)MUASXANETSTXAMDESLTATILLYFIXMCK
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than KLAC?

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

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

Screen the whole market against KLAC for any period in BetterThanSPYOpen these 15 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 KLAC?lower diversifies moreExpenseper year
KLACKLA Corporation · this page
+38.7%46.7%0.94−46.3%+2,534%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.500.09%
Popular alternativesbest 2 shownThe investments people most often weigh against KLAC. 2 of 21 passed at least one test.
MUMicron Technology, Inc. · Semiconductors
Higher return in most periods+68.1%57.1%1.20−57.6%+5,243%0.55—
LRCXLam Research Corporation · Semiconductor Equipment
Higher return in most periods+37.4%49.9%0.89−56.4%+2,989%0.86—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Semiconductor Equipment and Semiconductors and the categories next to it (Computer Hardware, Communications Equipment, Software), plus KLAC's specific themes. 12 of 133 passed at least one test.
ASXASE Technology Holding Co., Ltd. · Semiconductors
Higher return, lower volatilityHigher return in most periods+48.8%43.0%1.15−52.5%+967%0.66—
ANETArista Networks, Inc. · Communications Equipment
Higher return, similar volatilityHigher return in most periods+49.0%49.0%1.06−52.2%+3,439%0.37—
STXSeagate Technology Holdings plc · Computer Hardware
Higher return, similar volatilityHigher return in most periods+57.4%48.7%1.18−57.0%+2,698%0.56—
NVDANVIDIA Corporation · Semiconductors
Higher return in most periods+58.0%51.9%1.14−66.3%+13,019%0.40—
AMDAdvanced Micro Devices, Inc. · Semiconductors
Higher return in most periods+35.7%57.6%0.82−65.5%+7,583%0.55—
DELLDell Technologies Inc. · Computer Hardware
Higher return in most periods+55.2%54.4%1.08−59.6%+3,701%0.26—
The whole marketbest 6 shownEvery other stock and fund worth at least $500 million. 47 of 3,480 passed at least one test.
ESLTElbit Systems Ltd. · Aerospace & Defense
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+39.8%34.6%1.15−35.4%+765%-0.12—
ATIATI Inc. · Metals & Mining
On the frontierHigher return, lower volatilityHigher return in most periods+61.8%42.9%1.34−82.4%+929%0.21—
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst decline+40.7%32.8%1.21−34.5%+1,807%0.25—
FIXComfort Systems USA, Inc. · Engineering & Construction
On the frontierHigher return, similar volatilityHigher return in most periods+77.0%46.7%1.46−49.7%+5,305%0.45—
JXNJackson Financial Inc. · Life Insurance
Higher return, lower volatilityHigher return in most periods+41.7%43.3%1.03−48.4%—0.04—
MCKMcKesson Corporation · Health Care Distribution
Similar return, lower volatilityHigher Sharpe, smaller worst decline+38.7%25.0%1.44−38.1%+586%0.01—
What these numbers mean for KLAC
Annual return
KLAC returned 38.7% 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 $51,300. 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
KLAC's volatility over the past 5 years was 46.7%, 2.7 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, KLAC's return lands within 46.7% 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
KLAC's Sharpe ratio over the past 5 years was 0.94, against 0.79 for the S&P 500, so KLAC 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
KLAC's worst fall from a peak to a low over the past 10 years was 46.3%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 46.3% fall takes a 86.3% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, KLAC's monthly returns had a correlation of 0.50 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 KLAC instead: the lower it is, the more that option would diversify a KLAC holding. Guide: Correlation and diversification →
Show all 18 stocks and funds worth at least $500 million that earned more than KLAC 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 KLACExpense
1
ESLTElbit Systems Ltd. · Aerospace & Defense
Whole market+39.8%34.6%1.15−35.4%+765%-0.12—
2
ATIATI Inc. · Metals & Mining
Whole market+61.8%42.9%1.34−82.4%+929%0.21—
3
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.25—
4
ASXASE Technology Holding Co., Ltd. · Semiconductors
Same or nearby category+48.8%43.0%1.15−52.5%+967%0.66—
5
JXNJackson Financial Inc. · Life Insurance
Whole market+41.7%43.3%1.03−48.4%—0.04—
6
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%0.00—
7
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+51.8%37.5%1.31−71.7%+768%-0.01—
8
TKTeekay Corporation · Oil & Gas Midstream
Whole market+47.1%41.7%1.13−83.8%+244%-0.01—
9
HWMHowmet Aerospace Inc. · Aerospace & Defense
Whole market+47.3%32.5%1.36−68.9%+1,028%0.31—
10
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.34—
11
PBRPetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
Whole market+50.3%37.5%1.28−75.3%+674%-0.05—
12
INSWInternational Seaways, Inc. · Oil & Gas
Whole market+56.5%40.5%1.31−57.4%—-0.07—
13
VLOValero Energy Corporation · Oil & Gas
Whole market+44.2%36.9%1.18−71.9%+1,061%0.08—
14
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.15—
15
EMEEMCOR Group, Inc. · Engineering & Construction
Whole market+43.0%35.3%1.20−48.0%+1,202%0.31—
16
FTITechnipFMC plc · Oilfield Services
Whole market+54.1%41.3%1.26−85.8%+178%0.12—
17
COKECoca-Cola Consolidated, Inc. · Food & Beverages
Whole market+41.2%38.0%1.10−51.7%+1,569%0.26—
18
LPGDorian LPG Ltd. · Oil & Gas Midstream
Whole market+54.6%43.6%1.22−62.9%+1,821%0.00—

KLAC against its popular alternatives

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

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

Green points earned more than KLAC 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%0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityKLAC: 38.7% a year, volatility 46.7%SPY (S&P 500): 12.7% a year, volatility 17.1%LRCX: 37.4% a year, volatility 49.9%TER: 24.0% a year, volatility 54.3%CAMT: 27.0% a year, volatility 58.0%VECO: 13.7% a year, volatility 49.1%FORM: 24.7% a year, volatility 61.7%COHU: 11.0% a year, volatility 51.1%INTC: 12.4% a year, volatility 55.6%AEHR: 25.2% a year, volatility 102%AMAT: 25.8% a year, volatility 47.4%ONTO: 24.6% a year, volatility 59.6%ACLS: 17.7% a year, volatility 57.4%ASYS: 2.3% a year, volatility 69.0%UCTT: 3.0% a year, volatility 63.6%ICHR: 1.3% a year, volatility 71.1%MKSI: 8.5% a year, volatility 53.4%ACMR: 9.1% a year, volatility 82.3%NVMI: 25.6% a year, volatility 49.6%MU: 68.2% a year, volatility 57.1%TSM: 31.5% a year, volatility 38.5%ASML: 17.3% a year, volatility 43.4%UMC: 19.9% a year, volatility 43.2%KLACSPY (S&P 500)TERCAMTVECOFORMCOHUAEHRAMATACLSASYSUCTTMKSIACMRNVMIMUTSMASMLUMC0.0%20.0%40.0%60.0%80.0%100%120%0.0%20.0%40.0%60.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityKLAC: 38.7% a year, volatility 46.7%SPY (S&P 500): 12.7% a year, volatility 17.1%LRCX: 37.4% a year, volatility 49.9%TER: 24.0% a year, volatility 54.3%CAMT: 27.0% a year, volatility 58.0%VECO: 13.7% a year, volatility 49.1%FORM: 24.7% a year, volatility 61.7%COHU: 11.0% a year, volatility 51.1%INTC: 12.4% a year, volatility 55.6%AEHR: 25.2% a year, volatility 102%AMAT: 25.8% a year, volatility 47.4%ONTO: 24.6% a year, volatility 59.6%ACLS: 17.7% a year, volatility 57.4%ASYS: 2.3% a year, volatility 69.0%UCTT: 3.0% a year, volatility 63.6%ICHR: 1.3% a year, volatility 71.1%MKSI: 8.5% a year, volatility 53.4%ACMR: 9.1% a year, volatility 82.3%NVMI: 25.6% a year, volatility 49.6%MU: 68.2% a year, volatility 57.1%TSM: 31.5% a year, volatility 38.5%ASML: 17.3% a year, volatility 43.4%UMC: 19.9% a year, volatility 43.2%KLACSPY (S&P 500)LRCXTERCAMTCOHUAEHRACLSASYSUCTTMKSIACMRMUTSMASMLUMC
All figures
InvestmentAnnual returnVolatility
MU Micron Technology, Inc.+68.2%57.1%
KLAC This pageKLA Corporation+38.7%46.7%
LRCX Lam Research Corporation+37.4%49.9%
TSM Taiwan Semiconductor Manufacturing Company Limited+31.5%38.5%
CAMT Camtek Ltd.+27.0%58.0%
AMAT Applied Materials, Inc.+25.8%47.4%
NVMI Nova Ltd.+25.6%49.6%
AEHR Aehr Test Systems+25.2%102%
FORM FormFactor, Inc.+24.7%61.7%
ONTO Onto Innovation Inc.+24.6%59.6%
TER Teradyne, Inc.+24.0%54.3%
UMC United Microelectronics Corporation+19.9%43.2%
ACLS Axcelis Technologies, Inc.+17.7%57.4%
ASML ASML Holding N.V.+17.3%43.4%
VECO Veeco Instruments Inc.+13.7%49.1%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
INTC Intel Corp.+12.4%55.6%
COHU Cohu, Inc.+11.0%51.1%
ACMR ACM Research, Inc.+9.1%82.3%
MKSI MKS Inc.+8.5%53.4%
UCTT Ultra Clean Holdings, Inc.+3.0%63.6%
ASYS Amtech Systems, Inc.+2.3%69.0%
ICHR Ichor Holdings, Ltd.+1.3%71.1%
Open these 23 in EasyCompare

Has KLAC consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than KLAC 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
KLAC KLA Corporation (this page)—−12.1%−22.0%−10.2%+27.4%+41.0%+258%+413%+2,534%46.7%0.94−46.3%—$211B—
MU QualifiedMicron Technology, Inc.4/5 short3/3 longAll-weather−14.2%+3.6%+99.9%+184%+334%+1,246%+1,244%+5,243%57.1%1.20−57.6%—$1.0T—
LRCX QualifiedLam Research Corporation4/5 short2/3 long−12.8%−14.0%+0.3%+42.8%+83.7%+350%+390%+2,989%49.9%0.89−56.4%—$330B—
TSM SemiconductorsTaiwan Semiconductor Manufacturing Company Limited5/5 short1/3 long−4.5%+5.9%+16.6%+34.0%+44.3%+382%+293%+1,505%38.5%0.91−56.6%—$2.2T—
TER SemiconductorsTeradyne, Inc.3/5 short1/3 long−11.8%+0.9%−10.2%+62.4%+142%+271%+193%+1,565%54.3%0.67−59.1%—$53B—
CAMT SemiconductorsCamtek Ltd.1/5 short1/3 long−14.5%−13.0%−30.7%+10.7%+4.1%+149%+231%+4,551%58.0%0.70−63.2%—$6.0B—
ASML SemiconductorsASML Holding N.V.5/5 short0/3 long−4.7%−6.1%+10.8%+40.8%+57.5%+188%+123%+1,628%43.4%0.59−56.9%—$630B—
VECO SemiconductorsVeeco Instruments Inc.5/5 short0/3 long+0.8%−12.1%−4.6%+45.9%+50.9%+77.7%+90.3%+110%49.1%0.51−81.0%—$2.7B—
UMC SemiconductorsUnited Microelectronics Corporation4/5 short0/3 long−22.7%−3.1%+58.4%+155%+166%+202%+147%+1,610%43.2%0.63−54.3%—$49B—
FORM SemiconductorsFormFactor, Inc.4/5 short0/3 long−9.7%+2.3%−25.2%+82.0%+144%+227%+201%+964%61.7%0.67−64.4%—$8.4B—
COHU SemiconductorsCohu, Inc.4/5 short0/3 long−13.0%+2.3%+19.1%+114%+132%+61.0%+68.5%+406%51.1%0.46−73.6%—$2.5B—
INTC SemiconductorsIntel Corp.4/5 short0/3 long−24.7%−5.5%+39.6%+133%+141%+167%+79.8%+219%55.6%0.49−70.8%—$485B—
AEHR SemiconductorsAehr Test Systems3/5 short0/3 long−36.0%−19.9%−31.2%+180%+115%+96.2%+207%+1,987%102%0.72−87.4%—$2.0B—
AMAT SemiconductorsApplied Materials, Inc.3/5 short0/3 long−12.8%−22.9%+3.7%+51.2%+78.5%+209%+215%+1,488%47.4%0.72−55.1%—$321B—
ONTO SemiconductorsOnto Innovation Inc.3/5 short0/3 long−20.4%−21.2%−25.6%+32.4%+61.9%+86.2%+200%+1,005%59.6%0.67−62.8%—$11B—
ACLS SemiconductorsAxcelis Technologies, Inc.3/5 short0/3 long−0.2%−14.3%−13.8%+31.1%+34.6%−21.9%+126%+730%57.4%0.57−78.8%—$3.5B—
ASYS SemiconductorsAmtech Systems, Inc.3/5 short0/3 long−9.1%−16.5%−18.5%+5.2%+71.5%+75.1%+12.3%+207%69.0%0.38−78.4%—$238M—
UCTT SemiconductorsUltra Clean Holdings, Inc.2/5 short0/3 long−29.4%−43.8%−35.1%+88.8%+76.8%+108%+16.2%+574%63.6%0.37−79.3%—$2.3B—
GFS SemiconductorsGLOBALFOUNDRIES Inc.2/5 short0/3 long−3.0%−17.0%−19.7%+28.0%+32.7%−13.2%————−61.5%—$26B—
ICHR SemiconductorsIchor Holdings, Ltd.2/5 short0/3 long−24.8%−49.5%−34.5%+107%+87.0%+63.9%+6.6%—71.1%0.38−77.4%—$1.6B—
MKSI Hardware, Equipment & PartsMKS Inc.1/5 short0/3 long−17.8%−34.8%−24.4%+25.7%+49.8%+191%+50.5%+371%53.4%0.42−69.2%—$14B—
ACMR SemiconductorsACM Research, Inc.1/5 short0/3 long−24.5%−33.4%+10.6%+22.5%+38.1%+208%+54.8%—82.3%0.51−87.2%—$3.6B—
NVMI SemiconductorsNova Ltd.0/5 short0/3 long−11.8%−26.1%−39.9%−7.9%−5.1%+232%+213%+2,512%49.6%0.71−52.8%—$10B—
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How did KLAC do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where KLAC ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with KLAC and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

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

InvestmentYears ahead of KLAC20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
KLAC This pageKLA Corporation—+94.5%+9.4%+56.0%−11.2%+68.1%+47.9%+104%−12.4%+36.7%+17.0%+2.1%+39.4%+39.0%+2.1%+28.8%+9.9%+69.8%−53.5%−2.7%+1.9%+6.2%−20.3%+65.8%−28.7%+46.6%−39.3%+157%+11.9%+8.9%
Rank among alternativesTop quarter in 8 of 295 of 236 of 2312 of 232 of 238 of 2211 of 225 of 229 of 2217 of 2117 of 205 of 207 of 2010 of 209 of 202 of 2014 of 2013 of 209 of 2010 of 2015 of 209 of 209 of 1913 of 182 of 183 of 187 of 149 of 137 of 136 of 11
SPY S&P 500State Street SPDR S&P 500 ETF12 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
MU Micron Technology, Inc.12 of 29+240%−1.0%+71.9%−45.9%+24.2%+39.8%+69.5%−22.8%+87.6%+54.7%−59.5%+60.9%+243%+0.8%−21.6%−24.1%+301%−63.6%−48.0%+4.9%+7.8%−8.3%+38.2%−68.6%−12.7%−8.7%+53.8%+94.9%−10.9%
LRCX Lam Research Corporation17 of 29+139%−6.9%+88.6%−40.7%+53.7%+64.2%+119%−24.4%+75.1%+35.3%+1.5%+46.5%+51.0%−2.5%−28.5%+31.9%+84.1%−50.7%−14.6%+41.6%+23.5%−10.5%+199%−53.4%+59.7%−61.0%+527%−39.1%+4.0%
TSM Taiwan Semiconductor Manufacturing Company Limited14 of 28+55.7%+92.0%+41.8%−37.0%+11.7%+91.6%+63.3%−4.3%+37.9%+31.2%+4.9%+31.1%+4.5%+37.7%+7.3%+14.9%+52.9%−16.1%−4.3%+18.9%+27.1%−4.2%+56.7%−54.8%+39.5%−51.0%+290%+13.4%—
TER Teradyne, Inc.14 of 29+54.4%+16.5%+24.8%−46.4%+36.8%+76.8%+119%−24.4%+65.8%+24.3%+5.8%+13.4%+4.3%+23.9%−2.9%+30.9%+154%−59.1%−30.9%+2.7%−14.7%−32.9%+95.6%−56.8%−19.1%−43.6%+211%+32.5%+31.3%
CAMT Camtek Ltd.12 of 25+31.7%+18.3%+216%−52.3%+110%+102%+63.1%+20.5%+77.7%+51.7%−28.0%−25.8%+189%−19.8%−38.4%+13.4%+625%−80.0%−59.5%−0.8%−4.1%+54.3%+835%−91.4%−51.2%————
ASML ASML Holding N.V.15 of 29+55.8%−7.7%+39.9%−30.5%+64.1%+66.3%+93.2%−9.7%+56.5%+27.9%−17.1%+16.2%+46.9%+19.7%+10.4%+13.2%+90.9%−41.4%+22.3%+22.7%+26.1%−20.6%+140%−51.0%−24.4%−40.5%+273%−9.7%+171%
VECO Veeco Instruments Inc.9 of 29+6.6%−13.6%+67.0%−34.7%+64.0%+18.2%+98.3%−50.1%−49.1%+41.8%−41.0%+6.0%+11.6%+41.8%−51.6%+30.0%+421%−62.0%−10.8%+8.1%−17.8%−25.2%+144%−67.9%−10.2%−14.3%−11.9%+142%0.0%
UMC United Microelectronics Corporation5 of 25+28.7%−19.0%+39.0%−40.3%+43.1%+232%+55.4%−21.9%+42.2%−2.7%−13.2%+15.2%+5.7%−2.8%−26.9%−16.8%+98.2%−37.7%−28.9%+15.3%−2.2%−23.6%+52.9%−58.0%+33.7%————
FORM FormFactor, Inc.9 of 22+26.8%+5.5%+87.6%−51.4%+6.3%+65.6%+84.3%−10.0%+39.7%+24.4%+4.7%+43.1%+31.8%−9.9%−43.0%−59.2%+49.1%−55.9%−11.1%+52.5%−10.0%+37.1%———————
COHU Cohu, Inc.11 of 29−12.8%−24.6%+10.4%−15.9%−0.2%+67.5%+44.3%−26.0%+59.9%+17.6%+3.6%+15.9%−0.8%−2.1%−30.2%+21.1%+17.6%−19.2%−23.1%−10.7%+24.5%−2.1%+31.9%−24.7%+43.3%−54.6%+185%−27.2%+32.7%
INTC Intel Corp.9 of 29+84.0%−59.6%+94.5%−46.6%+6.0%−14.7%+30.7%+4.2%+30.9%+8.7%−2.2%+44.3%+30.9%−12.0%+19.4%+6.3%+43.9%−43.5%+34.2%−17.2%+8.1%−26.6%+107%−50.3%+4.9%−26.9%+39.1%+69.0%+7.4%
AEHR Aehr Test Systems8 of 28+21.4%−37.3%+32.0%−16.9%+856%+26.5%+41.8%−48.0%+12.4%+28.2%−26.3%−17.5%+264%+63.5%−56.7%−9.1%−35.6%−66.4%+22.0%+22.3%−1.2%+33.6%+13.1%−35.5%−19.1%+5.0%−18.4%−23.4%—
AMAT Applied Materials, Inc.13 of 29+59.6%+1.1%+68.0%−37.5%+83.6%+43.3%+89.9%−34.9%+59.8%+75.7%−23.5%+43.7%+58.6%+10.2%−21.9%+3.0%+40.4%−42.1%−2.6%+3.8%+5.4%−23.8%+72.3%−35.0%+5.0%−39.7%+197%+41.7%+67.9%
ONTO Onto Innovation Inc.12 of 29−5.3%+9.0%+125%−32.7%+113%+30.1%+33.7%+9.7%−0.6%+65.5%−10.0%−11.7%+32.1%−21.7%+43.6%+13.2%+894%−88.4%+24.6%−28.1%−31.8%+9.6%+251%−78.4%+40.5%−31.4%+158%−4.6%+72.4%
ACLS Axcelis Technologies, Inc.12 of 25+15.0%−46.1%+63.4%+6.4%+156%+20.8%+35.4%−38.0%+97.3%+40.4%+1.2%+4.9%+76.8%+3.8%−61.6%+145%+176%−88.9%+216%+22.2%−41.3%−20.4%+82.2%−56.5%+45.2%————
ASYS Amtech Systems, Inc.12 of 29+130%+29.8%−44.7%−23.1%+54.9%−10.9%+58.1%−55.0%+137%−32.1%−38.6%+46.6%+116%−62.2%−66.2%+127%+200%−71.6%+69.8%−1.5%+85.0%−27.1%+81.7%−55.7%−10.5%+60.0%+300%−73.7%−24.0%
UCTT Ultra Clean Holdings, Inc.10 of 21−29.5%+5.3%+3.0%−42.2%+84.1%+32.7%+177%−63.3%+138%+89.5%−44.8%−7.5%+104%−19.6%−34.4%+33.2%+248%−83.5%−1.2%+70.6%+19.5%————————
GFS GLOBALFOUNDRIES Inc.0 of 4−18.6%−29.2%+12.4%−17.1%—————————————————————————
ICHR Ichor Holdings, Ltd.1 of 9−42.8%−4.2%+25.4%−41.7%+52.7%−9.4%+104%−33.7%+127%————————————————————
MKSI MKS Inc.7 of 26+54.4%+2.2%+22.6%−51.0%+16.4%+37.7%+71.9%−31.1%+60.5%+67.6%+0.3%+24.9%+18.8%−5.1%+16.3%+40.7%+17.7%−22.7%−15.2%+26.2%−3.6%−36.0%+76.6%−39.2%+74.4%−57.1%———
ACMR ACM Research, Inc.4 of 8+161%−22.7%+153%−72.9%+5.0%+340%+69.4%+107%—————————————————————
NVMI Nova Ltd.12 of 25+66.7%+43.4%+68.2%−44.3%+108%+86.6%+66.1%−12.1%+96.9%+34.3%−5.7%+5.6%+23.3%+8.3%−11.3%+28.6%+1,014%−77.6%−1.5%+13.4%−33.1%−41.0%+292%−64.7%−38.8%————
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Risk and diversification

How KLAC 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 KLAC's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents KLAC's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

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

DuringKLAC fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−83.8%−38.0%Apr 2000Nov 20088.6 yearsSep 20145.8 years
No named crash−76.5%—Aug 1987Oct 19903.2 yearsSep 19932.9 years
No named crash−72.0%+3.3%Aug 1997Aug 199812 monthsOct 199914 months
No named crash−62.4%+15.9%Sep 1995Sep 199612 monthsFeb 19975 months
No named crash−46.3%+3.2%Jun 2026Oct 20264 monthsNot yet—

How did KLAC do in stock market crashes?

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

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

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
KLAC This pageKLA Corporation—−5.9%−37.6%−33.8%−21.6%−7.5%−13.5%−23.0%−2.8%−71.8%−73.2%
SPY S&P 500State Street SPDR S&P 500 ETF9 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
MU Micron Technology, Inc.2 of 10−5.3%−49.6%−42.5%−36.6%−8.8%−49.4%−46.5%−2.0%−84.2%−87.8%
LRCX Lam Research Corporation3 of 10−3.3%−55.1%−43.7%−22.9%−9.5%−20.5%−20.1%−2.2%−73.3%−87.9%
TSM Taiwan Semiconductor Manufacturing Company Limited5 of 10−3.9%−54.3%−23.3%−21.4%−9.3%−13.2%−15.7%0.0%−48.0%−82.4%
TER Teradyne, Inc.1 of 10−1.9%−56.6%−34.8%−24.6%−10.7%−18.3%−28.2%−2.5%−79.2%−93.4%
CAMT Camtek Ltd.1 of 9−5.6%−52.0%−46.5%−27.1%−10.9%−42.1%−47.6%0.0%−90.8%—
ASML ASML Holding N.V.3 of 10−2.9%−48.4%−37.9%−24.4%−7.5%−22.1%−17.7%−2.7%−64.1%−90.0%
VECO Veeco Instruments Inc.1 of 10−3.4%−46.5%−53.2%−39.2%−14.2%−30.2%−42.7%−4.0%−81.0%−91.9%
UMC United Microelectronics Corporation5 of 9−2.0%−51.0%−17.1%−36.2%−4.4%−16.6%−24.9%0.0%−63.0%—
FORM FormFactor, Inc.1 of 9−3.1%−45.2%−35.8%−22.6%−11.6%−31.9%−38.0%−3.5%−72.9%—
COHU Cohu, Inc.4 of 10−2.4%−36.8%−57.1%−42.2%−6.0%−16.3%−30.1%−6.3%−64.4%−82.1%
INTC Intel Corp.6 of 10−1.0%−54.1%−33.5%−13.0%−6.7%−19.7%−16.2%−0.9%−55.2%−82.3%
AEHR Aehr Test Systems1 of 10−13.4%−68.5%−52.7%−45.6%−12.7%−56.5%−50.9%0.0%−92.5%−76.3%
AMAT Applied Materials, Inc.3 of 10−3.6%−54.2%−43.6%−26.4%−9.7%−18.8%−24.5%−1.6%−61.7%−82.0%
ONTO Onto Innovation Inc.3 of 10−4.6%−44.0%−45.9%−31.8%−5.5%−18.6%−28.4%0.0%−92.6%−96.8%
ACLS Axcelis Technologies, Inc.0 of 9−6.5%−41.9%−52.0%−23.6%−12.3%−34.3%−40.7%−7.8%−97.1%—
ASYS Amtech Systems, Inc.0 of 10−6.0%−37.3%−38.6%−31.6%−10.9%−44.3%−59.9%−7.2%−85.9%−88.1%
UCTT Ultra Clean Holdings, Inc.1 of 9−4.7%−58.8%−52.6%−47.9%−15.2%−43.2%−53.0%−3.3%−94.3%—
GFS GLOBALFOUNDRIES Inc.1 of 2−5.1%−50.8%————————
ICHR Ichor Holdings, Ltd.0 of 5−5.9%−54.6%−58.5%−31.9%−25.1%—————
MKSI MKS Inc.1 of 10−6.5%−57.1%−39.4%−31.8%−9.5%−14.4%−23.9%−3.4%−54.7%−85.7%
ACMR ACM Research, Inc.2 of 5−5.9%−73.0%−59.6%−20.6%−5.7%—————
NVMI Nova Ltd.4 of 9−1.8%−50.1%−31.6%−20.3%−2.8%−27.7%−44.5%−3.9%−86.4%—
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How closely does KLAC 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 KLAC 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 KLAC's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
KLAC This pageKLA Corporation152%59%2.571.32
UMC United Microelectronics Corporation133%52%2.561.33
CAMT Camtek Ltd.191%96%1.991.60
TSM Taiwan Semiconductor Manufacturing Company Limited138%75%1.841.15
MU Micron Technology, Inc.204%114%1.791.75
LRCX Lam Research Corporation183%104%1.751.56
FORM FormFactor, Inc.132%81%1.641.29
NVMI Nova Ltd.179%110%1.621.46
AMAT Applied Materials, Inc.152%97%1.581.51
AEHR Aehr Test Systems184%123%1.502.29
ONTO Onto Innovation Inc.139%92%1.501.41
TER Teradyne, Inc.167%121%1.371.53
ASML ASML Holding N.V.170%132%1.291.44
ACLS Axcelis Technologies, Inc.151%136%1.101.67
UCTT Ultra Clean Holdings, Inc.165%156%1.061.93
COHU Cohu, Inc.122%116%1.051.65
INTC Intel Corp.98%100%0.981.43
VECO Veeco Instruments Inc.76%84%0.901.38
MKSI MKS Inc.156%181%0.861.77
ASYS Amtech Systems, Inc.171%241%0.711.76
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What diversifies KLAC?

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

ETFs

InvestmentCorrelation5Y returnSharpe202220182008200720042002200080/20 mix volatility80/20 mix annual return
KLAC KLA Corporation (this page)1.00+413%0.94−11.2%−12.4%−53.5%−2.7%−20.3%−28.7%−39.3%45.3%+43.7%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.18+119%1.48+3.8%−5.2%—————36.7%+40.0%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.32+225%1.34+6.0%−19.8%−20.8%−7.4%———37.2%+42.1%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.27+101%1.04+10.4%−8.7%—————37.1%+39.6%
HDV Dividend & IncomeiShares Core High Dividend ETF0.20+83.3%1.00+7.1%−3.0%—————36.9%+38.9%
GLD CommoditiesSPDR Gold Shares-0.05+126%0.96−0.8%−1.9%+4.9%+30.4%———36.3%+40.7%
XLE EnergyState Street Energy Select Sector SPDR ETF-0.05+177%0.93+64.4%−18.2%−39.0%+36.8%+33.8%−14.8%+24.4%36.4%+42.3%
VTV Broad MarketVanguard Morningstar Value ETF0.44+76.6%0.90−2.1%−5.5%−35.9%−0.1%———37.6%+38.6%
VLUE Broad MarketiShares MSCI USA Value Factor ETF0.49+109%0.90−14.2%−11.1%—————38.4%+39.6%

Stocks

InvestmentCorrelation5Y returnSharpe202220182008200720042002200080/20 mix volatility80/20 mix annual return
KLAC KLA Corporation (this page)1.00+413%0.94−11.2%−12.4%−53.5%−2.7%−20.3%−28.7%−39.3%45.3%+43.7%
CAH Medical - DistributionCardinal Health, Inc.0.34+479%1.55+54.1%−24.5%−39.6%−9.8%−4.7%−8.3%+108%38.4%+44.6%
CLS Hardware, Equipment & PartsCelestica Inc.0.32+3,143%1.47+1.3%−16.3%−20.5%−25.7%−6.4%−65.1%−2.3%41.5%+59.1%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.45+1,636%1.46+17.0%+0.8%−15.2%+2.1%+40.0%−9.4%−71.1%41.1%+54.0%
MCK Medical - DistributionMcKesson Corporation0.01+413%1.44+51.8%−28.4%−40.4%+29.7%−1.4%−27.2%+61.2%36.6%+44.7%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.00+690%1.41+86.6%−8.2%—————36.8%+48.1%
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Common questions

What was KLAC's worst drawdown?

KLAC's deepest decline since it began trading in 1986 was 83.8%, from April 2000 to November 2008. It took about six years from the low to climb back to its old high.

What were KLAC's best and worst years?

Over 29 full calendar years, KLAC's best year was 1999, when it returned 157%. Its worst was 2008, with a return of -53.5%.

Is there a better investment than KLAC?

Among KLAC's popular alternatives, MU and LRCX were ahead of KLAC in most short and long periods. Looking beyond its popular alternatives, ASX (semiconductors) earned more than KLAC with less volatility over the past 5 years: 48.8% a year at 43.0% volatility, against 38.7% a year at 46.7%.

Is KLAC more volatile than the S&P 500?

Yes. KLAC's volatility over the past 5 years was 46.7%, 2.7 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, KLAC's return lands within 46.7% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is KLAC's Sharpe ratio?

KLAC's Sharpe ratio over the past 5 years was 0.94, against 0.79 for the S&P 500, so KLAC 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 KLAC with the S&P 500?

Over the past 5 years, KLAC's monthly returns had a correlation of 0.50 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 KLAC instead: the lower it is, the more that option would diversify a KLAC holding.

What are the best alternatives to KLAC?

Of the 22 popular alternatives we compared, two outperformed KLAC in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: MU and LRCX.

Did KLAC outperform the S&P 500?

KLAC finished ahead of the S&P 500 (SPY) in 17 of 29 full calendar years. In 2025, it returned +94.5%, against +17.7% for the index.

How did KLAC do in stock market crashes?

KLAC fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in nine. The clearest case was the dot-com bust, when KLAC fell 73.2% and the S&P 500 fell 47.5%.

What diversifies KLAC?

These had a low correlation with KLAC over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.18), DXJ (correlation 0.32) and EMLP (correlation 0.27); among large stocks, CAH (correlation 0.34), CLS (correlation 0.32) and FIX (correlation 0.45). A correlation near zero means the two have moved largely independently.

How we measure

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