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Relative Intelligence · Chemicals

How Linde (LIN) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on LIN alone. It places LIN (Linde plc) against 12 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 LIN stands in the market, and of the alternatives worth a closer look.

Period covered: LIN's full trading record, from June 1992 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 LIN →Chart LIN vs. 12 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in LIN over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of LIN over the same span and LIN'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. 197 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of LIN; 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
  • MSFT$508,386+4,984% total · +14.5% a year
  • PH$505,227+4,952% total · +14.5% a year
  • RY$442,765+4,328% total · +14.0% a year
  • ECL$316,339+3,063% total · +12.6% a year
  • LIN$307,585+2,976% total · +12.5% a year
  • APD$141,485+1,315% total · +9.6% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
  • DD$46,604+366% total · +5.5% a year
  • APOG$25,913+159% total · +3.3% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,160 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of LIN; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000202120222023202420252026$0$10,000$20,000$30,000$40,000$50,000202120222023202420252026
  • TSM$43,622+336% total · +34.3% a year
  • XOM$32,965+230% total · +26.9% a year
  • APG$28,446+184% total · +23.3% a year
  • SHEL$25,892+159% total · +21.0% a year
  • CVX$24,595+146% total · +19.7% a year
  • APO$20,759+108% total · +15.7% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • LIN$17,312+73.1% total · +11.6% a year
  • DD$16,760+67.6% total · +10.9% a year
  • ECL$13,921+39.2% total · +6.8% a year
Change the dates or add tickers to this chart in EasyCompare

LIN 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
$231B
Industry
Chemicals - Specialty
Price history from
June 1992

Returns

Past 1 year
+12.7%total return
Past 3 years
+42.4%+12.5% a year
Past 5 years
+72.6%+11.5% a year
Past 10 years
+394%+17.3% a year
Best calendar year
+52.0%2007
Worst calendar year
−31.7%2008
Losing years
6 of 29full calendar years

Risk

Volatility
20.9%typical yearly swing, 5 years
Sharpe ratio
0.63return per unit of risk, 5 years
Worst decline ever
−51.8%Jun 2008 to Nov 2008
From its all-time high
−7.9%below the peak

LIN against the whole market

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

How does LIN rank among all stocks?

This section ranks LIN 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 LIN 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.

MeasureLINRankStanding
1-year return+12.7%1,482 of 3,287top 45%
3-year return+42.4%1,661 of 3,017bottom 46%
5-year return+72.6%880 of 2,893top 30%
10-year return+394%425 of 2,202top 19%
Volatility, 5 years20.9%120 of 2,893top 4%
Sharpe ratio, 5 years0.63615 of 2,893top 21%
Worst decline, past 10 years−32.6%39 of 2,187top 2%

What has beaten LIN 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). LIN sits where the dashed lines cross. Anything in the green box above and to the left earned more than LIN 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 LIN; faint dots are 51 more of the 112 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%15.0%20.0%25.0%30.0%35.0%10.0%12.5%15.0%17.5%20.0%22.5%25.0%27.5%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than LINBRK-B: +13.4% a year, volatility 17.1%FFLC: +15.7% a year, volatility 16.8%SIXA: +12.8% a year, volatility 12.7%KO: +14.7% a year, volatility 16.8%EPD: +16.4% a year, volatility 17.1%RSG: +13.9% a year, volatility 18.5%SDCI: +20.6% a year, volatility 18.4%GLD: +17.7% a year, volatility 18.9%FNDF: +13.6% a year, volatility 16.3%PVAL: +16.1% a year, volatility 15.1%HDV: +12.9% a year, volatility 13.0%AVDV: +13.9% a year, volatility 17.4%MGV: +12.6% a year, volatility 13.4%AMLP: +16.1% a year, volatility 18.9%RWL: +13.7% a year, volatility 14.4%FDVV: +13.2% a year, volatility 14.6%DBEF: +13.1% a year, volatility 13.8%IOO: +15.7% a year, volatility 17.2%FDL: +13.9% a year, volatility 14.4%JQUA: +13.6% a year, volatility 15.7%VLUE: +15.9% a year, volatility 18.4%IDV: +12.8% a year, volatility 15.5%GCOW: +14.1% a year, volatility 13.6%MLPX: +18.6% a year, volatility 19.7%IWX: +12.7% a year, volatility 13.8%IDMO: +13.3% a year, volatility 18.2%FTGC: +12.9% a year, volatility 15.6%SPUS: +15.0% a year, volatility 19.5%WTV: +13.4% a year, volatility 17.0%DIVI: +13.4% a year, volatility 15.5%HDEF: +12.8% a year, volatility 14.2%DIVB: +13.9% a year, volatility 15.4%PWV: +13.5% a year, volatility 14.2%JMOM: +12.9% a year, volatility 19.1%AUSF: +13.2% a year, volatility 13.6%VFMF: +14.3% a year, volatility 17.6%HEWJ: +20.8% a year, volatility 19.4%HLAL: +14.0% a year, volatility 18.0%EQL: +13.5% a year, volatility 14.5%FDRR: +12.6% a year, volatility 15.0%DGT: +13.8% a year, volatility 15.1%FYLD: +13.1% a year, volatility 16.0%FDD: +12.6% a year, volatility 18.5%IDOG: +14.1% a year, volatility 15.6%QDEF: +12.7% a year, volatility 13.7%NXTG: +16.2% a year, volatility 19.1%GVAL: +14.4% a year, volatility 18.7%ATO: +14.9% a year, volatility 18.4%L: +14.3% a year, volatility 19.2%PPA: +16.3% a year, volatility 18.9%EMLP: +14.9% a year, volatility 14.5%LIN: +11.5% a year, volatility 20.9%SPY (S&P 500): +12.7% a year, volatility 17.1%APG: +23.0% a year, volatility 31.9%XOM: +27.1% a year, volatility 26.5%CVX: +19.5% a year, volatility 25.2%SHEL: +21.0% a year, volatility 24.8%PH: +27.4% a year, volatility 28.8%TTE: +18.0% a year, volatility 25.8%E: +23.0% a year, volatility 25.6%JNJ: +12.7% a year, volatility 17.9%DFIV: +14.8% a year, volatility 16.4%AVLV: +14.0% a year, volatility 16.9%RY: +17.3% a year, volatility 18.2%BKLC: +13.8% a year, volatility 17.3%MPLX: +23.5% a year, volatility 18.8%NVS: +17.1% a year, volatility 20.7%QSPT: +12.1% a year, volatility 14.8%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%LINSPY (S&P 500)APGXOMCVXSHELPHTTEEDFIVAVLVRYBKLCMPLXNVSQSPTDXJLVHI10.0%15.0%20.0%25.0%30.0%35.0%10.0%15.0%20.0%25.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than LINBRK-B: +13.4% a year, volatility 17.1%FFLC: +15.7% a year, volatility 16.8%SIXA: +12.8% a year, volatility 12.7%KO: +14.7% a year, volatility 16.8%EPD: +16.4% a year, volatility 17.1%RSG: +13.9% a year, volatility 18.5%SDCI: +20.6% a year, volatility 18.4%GLD: +17.7% a year, volatility 18.9%FNDF: +13.6% a year, volatility 16.3%PVAL: +16.1% a year, volatility 15.1%HDV: +12.9% a year, volatility 13.0%AVDV: +13.9% a year, volatility 17.4%MGV: +12.6% a year, volatility 13.4%AMLP: +16.1% a year, volatility 18.9%RWL: +13.7% a year, volatility 14.4%FDVV: +13.2% a year, volatility 14.6%DBEF: +13.1% a year, volatility 13.8%IOO: +15.7% a year, volatility 17.2%FDL: +13.9% a year, volatility 14.4%JQUA: +13.6% a year, volatility 15.7%VLUE: +15.9% a year, volatility 18.4%IDV: +12.8% a year, volatility 15.5%GCOW: +14.1% a year, volatility 13.6%MLPX: +18.6% a year, volatility 19.7%IWX: +12.7% a year, volatility 13.8%IDMO: +13.3% a year, volatility 18.2%FTGC: +12.9% a year, volatility 15.6%SPUS: +15.0% a year, volatility 19.5%WTV: +13.4% a year, volatility 17.0%DIVI: +13.4% a year, volatility 15.5%HDEF: +12.8% a year, volatility 14.2%DIVB: +13.9% a year, volatility 15.4%PWV: +13.5% a year, volatility 14.2%JMOM: +12.9% a year, volatility 19.1%AUSF: +13.2% a year, volatility 13.6%VFMF: +14.3% a year, volatility 17.6%HEWJ: +20.8% a year, volatility 19.4%HLAL: +14.0% a year, volatility 18.0%EQL: +13.5% a year, volatility 14.5%FDRR: +12.6% a year, volatility 15.0%DGT: +13.8% a year, volatility 15.1%FYLD: +13.1% a year, volatility 16.0%FDD: +12.6% a year, volatility 18.5%IDOG: +14.1% a year, volatility 15.6%QDEF: +12.7% a year, volatility 13.7%NXTG: +16.2% a year, volatility 19.1%GVAL: +14.4% a year, volatility 18.7%ATO: +14.9% a year, volatility 18.4%L: +14.3% a year, volatility 19.2%PPA: +16.3% a year, volatility 18.9%EMLP: +14.9% a year, volatility 14.5%LIN: +11.5% a year, volatility 20.9%SPY (S&P 500): +12.7% a year, volatility 17.1%APG: +23.0% a year, volatility 31.9%XOM: +27.1% a year, volatility 26.5%CVX: +19.5% a year, volatility 25.2%SHEL: +21.0% a year, volatility 24.8%PH: +27.4% a year, volatility 28.8%TTE: +18.0% a year, volatility 25.8%E: +23.0% a year, volatility 25.6%JNJ: +12.7% a year, volatility 17.9%DFIV: +14.8% a year, volatility 16.4%AVLV: +14.0% a year, volatility 16.9%RY: +17.3% a year, volatility 18.2%BKLC: +13.8% a year, volatility 17.3%MPLX: +23.5% a year, volatility 18.8%NVS: +17.1% a year, volatility 20.7%QSPT: +12.1% a year, volatility 14.8%DXJ: +26.6% a year, volatility 19.1%LVHI: +17.0% a year, volatility 11.1%LINSPY (S&P 500)APGXOMCVXSHELPHTTEEJNJDFIVAVLVRYBKLCMPLXNVSQSPTDXJLVHI
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region
  • 1 with more than 1.6× LIN's volatility is in the table only

Is there a better investment than LIN?

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

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

Screen the whole market against LIN 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 LIN?lower diversifies moreExpenseper year
LINLinde plc · this page
+11.5%20.9%0.63−32.6%+394%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 LIN. 2 of 12 passed at least one test.
TSMTaiwan Semiconductor Manufacturing Company Limited · Semiconductors
Higher return in most periods+31.5%38.5%0.91−56.6%+1,505%0.31—
APGAPi Group Corporation · Engineering & Construction
Higher return in most periods+23.0%31.9%0.81−49.6%—0.56—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Chemicals and the categories next to it (Specialty Chemicals, Industrial Machinery, Agricultural Products, Integrated Oil & Gas), plus LIN's specific themes. 13 of 77 passed at least one test.
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Higher return in most periods+27.1%26.5%1.04−61.0%+214%0.25—
CVXChevron Corporation · Integrated Oil & Gas
Higher return in most periods+19.5%25.2%0.84−55.8%+238%0.32—
SHELShell plc · Integrated Oil & Gas
Higher return in most periods+21.0%24.8%0.90−67.2%+233%0.19—
PHParker-Hannifin Corporation · Industrial Machinery
Higher return in most periods+27.4%28.8%0.99−54.7%+789%0.59—
TTETotalEnergies SE · Integrated Oil & Gas
Higher return in most periods+18.0%25.8%0.78−59.6%+234%0.33—
EEni S.p.A. · Integrated Oil & Gas
Higher return in most periods+23.0%25.6%0.94−61.4%+278%0.30—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 443 of 3,544 passed at least one test.
JNJJohnson & Johnson · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.7%17.9%0.76−27.4%+196%0.50—
DFIVDimensional - International Value ETF · International Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+14.8%16.4%0.93−25.4%—0.590.27%
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+14.0%16.9%0.86−19.5%—0.660.15%
RYRoyal Bank of Canada · Banks
On the frontierHigher return, lower volatilityHigher return in most periods+17.3%18.2%0.97−40.0%+352%0.38—
BKLCBNY Mellon US Large Cap Core Equity ETF · US Large-Cap Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+13.8%17.3%0.84−26.2%—0.540.00%
MPLXMPLX Lp · Oil & Gas Midstream
On the frontierHigher return, lower volatilityHigher return in most periods+23.5%18.8%1.22−75.2%+350%0.39—
NVSNovartis AG · Pharmaceuticals
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.1%20.7%0.87−26.8%+226%0.59—
QSPTFT Vest Nasdaq-100 Buffer ETF - September · Multi-Asset
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.1%14.8%0.85−22.6%—0.430.90%
What these numbers mean for LIN
Annual return
LIN returned 11.5% 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 $17,300. 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
LIN's volatility over the past 5 years was 20.9%, 1.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, LIN's return lands within 20.9% 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
LIN's Sharpe ratio over the past 5 years was 0.63, against 0.79 for the S&P 500, so LIN 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. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
LIN's worst fall from a peak to a low over the past 10 years was 32.6%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 32.6% fall takes a 48.3% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, LIN'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 LIN instead: the lower it is, the more that option would diversify a LIN holding. Guide: Correlation and diversification →
Show all 112 stocks and funds worth at least $500 million that earned more than LIN with less volatility

Out of 3,633 tested over 5 years. The strongest 59 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with LINExpense
1
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%0.50—
2
DFIVDimensional - International Value ETF · International Equity
Whole market+14.8%16.4%0.93−25.4%—0.590.27%
3
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Whole market+14.0%16.9%0.86−19.5%—0.660.15%
4
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.38—
5
BKLCBNY Mellon US Large Cap Core Equity ETF · US Large-Cap Equity
Whole market+13.8%17.3%0.84−26.2%—0.540.00%
6
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.39—
7
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.61—
8
FFLCFidelity Fundamental Large Cap Core ETF · Broad Market
Whole market+15.7%16.8%0.95−19.7%—0.550.38%
9
SIXAETC 6 Meridian Mega Cap Equity ETF · Broad Market
Whole market+12.8%12.7%1.01−18.4%—0.730.31%
10
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.410.48%
11
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.600.40%
12
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.43—
13
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Whole market+16.4%17.1%0.98−58.1%+178%0.39—
14
RSGRepublic Services, Inc. · Environmental Services
Whole market+13.9%18.5%0.80−34.0%+446%0.68—
15
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.150.80%
16
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.200.40%
17
FNDFSchwab Fundamental International Large Company Index ETF · International Equity
Whole market+13.6%16.3%0.87−40.2%+194%0.620.25%
18
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Whole market+16.1%15.1%1.07−41.3%—0.640.56%
19
HDViShares Core High Dividend ETF · US Dividend Equity
Whole market+12.9%13.0%1.00−37.0%+172%0.650.08%
20
AVDVAvantis International Small Cap Value ETF · International Equity
Whole market+13.9%17.4%0.84−43.0%—0.580.36%
21
MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value
Whole market+12.6%13.4%0.95−35.4%+244%0.720.05%
22
AMLPAlerian MLP ETF · Energy Equity
Whole market+16.1%18.9%0.89−72.9%+91.0%0.391.01%
23
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity
Whole market+13.7%14.4%0.97−36.1%+287%0.640.39%
24
FDVVFidelity High Dividend ETF · US Dividend Equity
Whole market+13.2%14.6%0.92−40.2%+253%0.600.15%
25
DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity
Whole market+13.1%13.8%0.96−32.5%+206%0.660.35%
26
IOOiShares Global 100 ETF · Global Equity
Whole market+15.7%17.2%0.94−31.4%+361%0.450.40%
27
FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity
Whole market+13.9%14.4%0.98−41.4%+199%0.620.43%
28
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Whole market+13.6%15.7%0.89−32.9%—0.670.12%
29
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+15.9%18.4%0.90−39.5%+286%0.520.15%
30
IDViShares International Select Dividend ETF · International Equity
Whole market+12.8%15.5%0.86−42.5%+159%0.510.50%
31
GCOWPacer Global Cash Cows Dividend ETF · International
Whole market+14.1%13.6%1.04−37.6%+168%0.580.60%
32
MLPXGlobal X - MLP & Energy Infrastructure ETF · Energy
Whole market+18.6%19.7%0.97−64.6%+186%0.560.45%
33
IWXiShares Russell Top 200 Value ETF · Broad Market
Whole market+12.7%13.8%0.94−35.8%+221%0.630.20%
34
IDMOInvesco S&P International Developed Momentum ETF · International Equity
Whole market+13.3%18.2%0.78−31.3%+229%0.720.25%
35
FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives
Whole market+12.9%15.6%0.86−35.9%+139%0.120.98%
36
SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology
Whole market+15.0%19.5%0.82−30.8%—0.480.45%
37
WTVWisdomTree U.S. Value Fund · Broad Market
Whole market+13.4%17.0%0.83−42.2%+303%0.600.12%
38
DIVIFranklin International Core Dividend Tilt Index ETF · International
Whole market+13.4%15.5%0.89−27.7%+184%0.640.09%
39
HDEFXtrackers MSCI EAFE High Dividend Yield Equity ETF · International
Whole market+12.8%14.2%0.92−36.4%+134%0.600.09%
40
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.620.05%
41
PWVInvesco Large Cap Value ETF · Broad Market
Whole market+13.5%14.2%0.97−37.6%+223%0.660.55%
42
JMOMJPMorgan U.S. Momentum Factor ETF · Broad Market
Whole market+12.9%19.1%0.73−34.3%—0.600.12%
43
AUSFGlobal X - Adaptive U.S. Factor ETF · International
Whole market+13.2%13.6%0.99−44.2%—0.660.27%
44
VFMFVanguard U.S. Multifactor ETF · Broad Market
Whole market+14.3%17.6%0.85−41.3%—0.610.18%
45
HEWJiShares Currency Hedged MSCI Japan ETF · International
Whole market+20.8%19.4%1.08−31.5%+346%0.421.02%
46
HLALWahed FTSE USA Shariah ETF · Broad Market
Whole market+14.0%18.0%0.82−33.6%—0.500.50%
47
EQLALPS Equal Sector Weight ETF · Broad Market
Whole market+13.5%14.5%0.94−34.2%+387%0.720.19%
48
FDRRFidelity Dividend ETF for Rising Rates · Dividend & Income
Whole market+12.6%15.0%0.87−36.5%+265%0.550.15%
49
DGTState Street SPDR Global Dow ETF · International
Whole market+13.8%15.1%0.94−34.4%+261%0.650.50%
50
FYLDCambria Foreign Shareholder Yield ETF · Dividend & Income
Whole market+13.1%16.0%0.85−44.6%+203%0.560.59%
51
FDDFirst Trust STOXX European Select Dividend Index Fund · Dividend & Income
Whole market+12.6%18.5%0.74−41.4%+175%0.490.56%
52
IDOGALPS International Sector Dividend Dogs ETF · International
Whole market+14.1%15.6%0.93−37.3%+180%0.540.50%
53
QDEFNorthern Trust Quality Dividend Defensive ETF · Dividend & Income
Whole market+12.7%13.7%0.94−35.7%+228%0.680.40%
54
NXTGFirst Trust Indxx NextG ETF · Technology
Whole market+16.2%19.1%0.89−33.6%+330%0.440.70%
55
GVALCambria Global Value ETF · International
Whole market+14.4%18.7%0.82−46.8%+173%0.560.68%
56
ATOAtmos Energy Corporation · Gas Utilities
Whole market+14.9%18.4%0.85−32.9%+194%0.54—
57
LLoews Corporation · Property & Casualty Insurance
Whole market+14.3%19.2%0.80−48.5%+180%0.48—
58
PPAInvesco Aerospace & Defense ETF · Aerospace & Defense
Whole market+16.3%18.9%0.90−43.9%+344%0.500.58%
59
EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure
Whole market+14.9%14.5%1.04−43.6%+150%0.610.95%

LIN against its popular alternatives

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

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

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

15.0%20.0%25.0%30.0%35.0%40.0%45.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityLIN: 11.5% a year, volatility 20.9%SPY (S&P 500): 12.7% a year, volatility 17.1%ECL: 6.7% a year, volatility 24.1%DD: 9.8% a year, volatility 30.0%APO: 10.5% a year, volatility 37.3%APLE: 9.0% a year, volatility 26.8%APOG: 4.2% a year, volatility 37.9%APD: 3.2% a year, volatility 26.4%LYB: −2.0% a year, volatility 33.1%DOW: −7.6% a year, volatility 34.1%ATR: 0.9% a year, volatility 22.6%APTV: −23.2% a year, volatility 41.4%TSM: 31.5% a year, volatility 38.5%APG: 23.0% a year, volatility 31.9%LINSPY (S&P 500)ECLDDAPOAPLEAPOGAPDLYBDOWATRAPTVTSMAPG15.0%20.0%25.0%30.0%35.0%40.0%45.0%−30.0%−20.0%−10.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityLIN: 11.5% a year, volatility 20.9%SPY (S&P 500): 12.7% a year, volatility 17.1%ECL: 6.7% a year, volatility 24.1%DD: 9.8% a year, volatility 30.0%APO: 10.5% a year, volatility 37.3%APLE: 9.0% a year, volatility 26.8%APOG: 4.2% a year, volatility 37.9%APD: 3.2% a year, volatility 26.4%LYB: −2.0% a year, volatility 33.1%DOW: −7.6% a year, volatility 34.1%ATR: 0.9% a year, volatility 22.6%APTV: −23.2% a year, volatility 41.4%TSM: 31.5% a year, volatility 38.5%APG: 23.0% a year, volatility 31.9%LINSPY (S&P 500)ECLDDAPOAPLEAPOGAPDLYBDOWATRAPTVTSMAPG
All figures
InvestmentAnnual returnVolatility
TSM Taiwan Semiconductor Manufacturing Company Limited+31.5%38.5%
APG APi Group Corporation+23.0%31.9%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
LIN This pageLinde plc+11.5%20.9%
APO Apollo Global Management, Inc.+10.5%37.3%
DD DuPont de Nemours, Inc.+9.8%30.0%
APLE Apple Hospitality REIT, Inc.+9.0%26.8%
ECL Ecolab Inc.+6.7%24.1%
APOG Apogee Enterprises, Inc.+4.2%37.9%
APD Air Products and Chemicals, Inc.+3.2%26.4%
ATR AptarGroup, Inc.+0.9%22.6%
LYB LyondellBasell Industries N.V.−2.0%33.1%
DOW Dow Inc.−7.6%34.1%
APTV Aptiv PLC−23.2%41.4%
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Has LIN consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than LIN 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
LIN Linde plc (this page)—+9.7%−1.7%+1.4%+18.1%+12.7%+42.4%+72.6%+394%20.9%0.63−32.6%—$231B—
TSM QualifiedTaiwan Semiconductor Manufacturing Company Limited4/5 short3/3 longAll-weather−4.5%+5.9%+16.6%+34.0%+44.3%+382%+293%+1,505%38.5%0.91−56.6%—$2.2T—
APG Engineering & ConstructionAPi Group Corporation2/5 short2/3 long+6.8%+1.5%−17.9%+2.6%+14.8%+137%+182%—31.9%0.81−49.6%—$17B—
ECL Chemicals - SpecialtyEcolab Inc.2/5 short1/3 long+6.7%+7.5%+5.1%+10.6%+4.0%+85.8%+38.1%+176%24.1%0.39−43.7%—$81B—
DD ChemicalsDuPont de Nemours, Inc.1/5 short1/3 long+2.4%−1.6%−4.9%+9.8%+33.2%+53.7%+59.2%+65.8%30.0%0.46−73.0%—$18B—
APO Asset ManagementApollo Global Management, Inc.0/5 short1/3 long−13.0%−5.5%−11.9%−23.2%−9.7%+41.4%+64.9%+825%37.3%0.46−53.5%—$66B—
APLE REIT - Hotel & MotelApple Hospitality REIT, Inc.5/5 short0/3 long+14.2%+7.0%+39.9%+55.5%+64.1%+41.8%+53.8%+68.3%26.8%0.46−71.9%—$4.2B—
APOG Construction MaterialsApogee Enterprises, Inc.5/5 short0/3 long+17.4%+10.1%+21.1%+18.8%+17.1%+10.1%+23.1%+25.5%37.9%0.30−74.6%—$901M—
APD Chemicals - SpecialtyAir Products and Chemicals, Inc.4/5 short0/3 long+9.0%+2.7%+3.5%+23.1%+22.2%+17.4%+16.9%+188%26.4%0.25−31.8%—$67B—
LYB Chemicals - SpecialtyLyondellBasell Industries N.V.3/5 short0/3 long+6.2%+6.4%−4.8%+48.9%+49.0%−15.5%−9.4%+38.3%33.1%0.11−68.2%—$21B—
DOW ChemicalsDow Inc.3/5 short0/3 long+8.6%+2.2%−14.7%+30.8%+48.8%−25.6%−32.7%—34.1%-0.06−64.4%—$22B—
ATR Medical - Instruments & SuppliesAptarGroup, Inc.0/5 short0/3 long+1.9%−2.8%−3.2%+3.8%−1.8%+7.0%+4.8%+89.0%22.6%0.15−39.8%—$8.0B—
APTV Auto - PartsAptiv PLC0/5 short0/3 long+3.4%−21.4%−25.9%−42.6%−46.0%−51.0%−73.3%−10.6%41.4%-0.43−75.8%—$9.4B—
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How did LIN do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where LIN ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with LIN 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 LIN; gray means the two finished within a fraction of a point. The rank row places LIN among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of LIN20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
LIN This pageLinde plc—+3.2%+3.2%+27.7%−4.4%+33.4%+25.9%+39.1%+3.0%+35.1%+17.5%−19.0%+1.6%+21.3%+4.5%+14.2%+21.5%+38.4%−31.8%+52.0%+14.0%+21.8%+17.3%+34.4%+5.9%+26.3%−10.3%+44.4%−20.7%−1.6%
Rank among alternativesTop quarter in 7 of 296 of 138 of 135 of 134 of 134 of 133 of 125 of 113 of 114 of 115 of 119 of 107 of 109 of 108 of 102 of 83 of 75 of 74 of 71 of 76 of 73 of 75 of 73 of 72 of 73 of 75 of 73 of 77 of 75 of 6
SPY S&P 500State Street SPDR S&P 500 ETF10 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%
TSM Taiwan Semiconductor Manufacturing Company Limited18 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%—
APG APi Group Corporation4 of 5+59.6%+4.0%+84.0%−27.0%+42.0%————————————————————————
ECL Ecolab Inc.15 of 29+13.2%+19.3%+37.9%−37.1%+9.4%+13.2%+32.3%+11.1%+15.8%+3.7%+10.7%+1.3%+46.6%+25.9%+16.3%+14.6%+28.7%−30.5%+14.5%+25.9%+4.4%+29.7%+11.9%+24.4%−5.5%+11.9%+9.3%+32.3%+49.7%
DD DuPont de Nemours, Inc.12 of 29+28.7%+1.0%+14.3%−13.3%+15.4%+13.3%−14.3%−23.7%+26.2%+13.9%+15.8%+4.9%+40.7%+15.4%−14.0%+25.4%+88.0%−60.2%+1.4%−6.5%−9.6%+21.8%+44.0%−9.4%−5.2%−15.6%+50.2%−8.0%+33.0%
APO Apollo Global Management, Inc.8 of 14−11.1%+79.9%+49.5%−9.6%+53.3%+8.0%+107%−22.0%+85.4%+37.3%−29.3%−15.9%+112%+54.6%———————————————
APLE Apple Hospitality REIT, Inc.1 of 10−16.6%−1.4%+12.2%+2.5%+25.4%−18.9%+21.9%−21.8%+4.0%+6.6%———————————————————
APOG Apogee Enterprises, Inc.13 of 29−47.8%+35.8%+22.8%−5.7%+55.2%+0.5%+10.9%−33.8%−13.7%+24.6%+3.6%+19.4%+51.8%+99.7%−6.5%−1.2%+38.8%−38.1%−10.4%+21.1%+23.2%+20.6%+29.9%−42.5%+201%+11.3%−54.1%−3.8%−39.6%
APD Air Products and Chemicals, Inc.12 of 29−12.7%+8.1%−8.9%+3.9%+13.8%+18.8%+50.0%+0.3%+17.1%+22.5%−7.6%+32.1%+36.9%+1.7%−3.8%+15.0%+65.5%−47.8%+42.8%+21.1%+4.3%+12.0%+26.1%−7.2%+16.7%+24.9%−14.3%−1.0%+20.8%
LYB LyondellBasell Industries N.V.4 of 15−36.0%−17.4%+20.7%−1.0%+5.1%+2.6%+19.4%−21.7%+33.8%+2.9%+13.2%+1.8%+44.7%+92.5%+10.5%——————————————
DOW Dow Inc.0 of 6−37.4%−22.8%+14.7%−6.6%+6.8%+7.9%———————————————————————
ATR AptarGroup, Inc.11 of 29−21.4%+28.6%+13.9%−8.9%−9.5%+19.9%+24.5%+10.5%+19.3%+2.8%+10.6%+0.3%+44.6%−7.0%+11.5%+35.3%+3.3%−12.4%+40.4%+15.0%+0.3%+36.9%+25.8%−10.0%+20.1%+17.9%−9.9%+1.6%+58.8%
APTV Aptiv PLC8 of 14+25.8%−32.6%−3.7%−43.5%+26.6%+37.5%+55.9%−27.1%+57.6%−20.1%+19.3%+22.7%+59.4%+77.6%———————————————
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Risk and diversification

How LIN 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 LIN's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents LIN's five deepest drawdowns since it began trading in 1992, 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 LIN fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringLIN fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−51.8%−42.3%Jun 2008Nov 20085 monthsDec 20102.1 years
No named crash−45.0%+19.2%Jul 1997Sep 199814 monthsMay 19998 months
No named crash−44.5%+4.7%May 1999Mar 200010 monthsJan 200222 months
Covid crash−32.6%−33.4%Feb 2020Mar 20201 monthJul 20204 months
2015 China and oil sell-off−26.1%−0.5%Jun 2014Jan 201619 monthsMay 201716 months

How did LIN do in stock market crashes?

This section measures how far LIN, 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 LIN.

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
LIN This pageLinde plc—−5.3%−22.8%−32.3%−11.9%−7.2%−16.6%−15.4%−0.6%−51.8%−33.5%
SPY S&P 500State Street SPDR S&P 500 ETF3 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
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%
APG APi Group Corporation0 of 2−8.6%−49.6%————————
ECL Ecolab Inc.4 of 10−1.3%−39.2%−40.3%−13.8%−6.8%−16.3%−16.1%0.0%−41.9%−30.0%
DD DuPont de Nemours, Inc.2 of 10−4.0%−40.2%−46.4%−29.2%−5.1%−27.0%−39.8%−4.5%−85.7%−40.6%
APO Apollo Global Management, Inc.0 of 7−17.9%−35.5%−48.9%−35.7%−10.8%−40.0%−44.2%———
APLE Apple Hospitality REIT, Inc.1 of 6−7.6%−23.9%−67.7%−19.3%−5.6%−16.1%————
APOG Apogee Enterprises, Inc.1 of 10−9.3%−26.7%−57.8%−37.6%−5.4%−40.0%−34.4%−2.9%−78.2%−46.7%
APD Air Products and Chemicals, Inc.4 of 10−3.1%−28.3%−30.9%−12.5%−6.2%−20.6%−19.0%−1.8%−60.3%−30.0%
LYB LyondellBasell Industries N.V.0 of 8−7.5%−34.8%−57.5%−24.9%−7.0%−25.5%−39.9%−4.3%——
DOW Dow Inc.0 of 3−6.9%−37.1%−54.1%———————
ATR AptarGroup, Inc.5 of 10−2.9%−23.7%−27.0%−18.5%−5.1%−11.9%−19.0%−2.5%−44.4%−35.0%
APTV Aptiv PLC1 of 6−5.7%−55.1%−63.2%−33.4%−6.0%−35.7%————
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How closely does LIN 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 LIN 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 LIN's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
LIN This pageLinde plc90%73%1.230.76
TSM Taiwan Semiconductor Manufacturing Company Limited138%75%1.841.15
APO Apollo Global Management, Inc.166%168%0.991.58
ATR AptarGroup, Inc.44%49%0.910.52
ECL Ecolab Inc.75%86%0.870.94
APD Air Products and Chemicals, Inc.81%95%0.850.76
APLE Apple Hospitality REIT, Inc.64%99%0.651.08
DD DuPont de Nemours, Inc.96%151%0.631.28
LYB LyondellBasell Industries N.V.80%141%0.570.91
APOG Apogee Enterprises, Inc.62%125%0.501.14
APTV Aptiv PLC106%219%0.481.80
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What diversifies LIN?

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

ETFs

InvestmentCorrelation5Y returnSharpe20222015200820001998199780/20 mix volatility80/20 mix annual return
LIN Linde plc (this page)1.00+72.6%0.63−4.4%−19.0%−31.8%−10.3%−20.7%−1.6%19.7%+11.6%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.41+225%1.34+6.0%+7.7%−20.8%———17.0%+14.8%
SMH TechnologyVanEck Semiconductor ETF0.38+323%0.97−33.5%−0.3%−44.7%———19.4%+17.3%
GLD CommoditiesSPDR Gold Shares0.20+126%0.96−0.8%−10.7%+4.9%———16.8%+13.4%
IOO InternationaliShares Global 100 ETF0.45+107%0.94−16.3%−1.8%−36.1%———17.4%+12.9%
XLE EnergyState Street Energy Select Sector SPDR ETF0.36+177%0.93+64.4%−21.5%−39.0%+24.4%——18.3%+14.4%
EWT TechnologyiShares MSCI Taiwan ETF0.38+153%0.89−28.9%−12.9%−45.3%———18.3%+14.1%
AMLP EnergyAlerian MLP ETF0.39+111%0.89+25.5%−25.7%————17.5%+13.3%
EDIV InternationalState Street SPDR S&P Emerging Markets Dividend ETF0.43+69.9%0.84−15.3%−27.4%————17.0%+11.8%

Stocks

InvestmentCorrelation5Y returnSharpe20222015200820001998199780/20 mix volatility80/20 mix annual return
LIN Linde plc (this page)1.00+72.6%0.63−4.4%−19.0%−31.8%−10.3%−20.7%−1.6%19.7%+11.6%
CAH Medical - DistributionCardinal Health, Inc.0.27+479%1.55+54.1%+12.6%−39.6%+108%+51.7%+29.1%17.9%+17.2%
CLS Hardware, Equipment & PartsCelestica Inc.0.01+3,143%1.47+1.3%−6.0%−20.5%−2.3%——19.7%+30.3%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.44+1,636%1.46+17.0%+67.7%−15.2%−71.1%−9.5%—21.3%+25.5%
MCK Medical - DistributionMcKesson Corporation0.18+413%1.44+51.8%−4.5%−40.4%+61.2%+46.9%+96.3%17.4%+16.6%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.26+690%1.41+86.6%+17.4%————18.5%+19.2%
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Common questions

What was LIN's worst drawdown?

LIN's deepest decline since it began trading in 1992 was 51.8%, from June to November 2008. It took 25 months from the low to climb back to its old high.

What were LIN's best and worst years?

Over 29 full calendar years, LIN's best year was 2007, when it returned 52.0%. Its worst was 2008, with a return of -31.7%.

Is there a better investment than LIN?

Among LIN's popular alternatives, TSM and APG were ahead of LIN in most short and long periods, though with much bigger swings (38.5% and 31.9% volatility against 20.9%). Looking beyond its popular alternatives, XOM (integrated oil & gas) and CVX (integrated oil & gas) were ahead of LIN in most short and long periods.

Is LIN more volatile than the S&P 500?

Yes. LIN's volatility over the past 5 years was 20.9%, 1.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, LIN's return lands within 20.9% 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 LIN's Sharpe ratio?

LIN's Sharpe ratio over the past 5 years was 0.63, against 0.79 for the S&P 500, so LIN 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 LIN with the S&P 500?

Over the past 5 years, LIN'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 LIN instead: the lower it is, the more that option would diversify a LIN holding.

What are the best alternatives to LIN?

Of the 12 popular alternatives we compared, one outperformed LIN in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: TSM.

Did LIN outperform the S&P 500?

LIN finished ahead of the S&P 500 (SPY) in 19 of 29 full calendar years. In 2025, it returned +3.2%, against +17.7% for the index.

How did LIN do in stock market crashes?

LIN fell less than the S&P 500 (SPY) in seven of the ten major crashes it has traded through, and further in three. The clearest case was the dot-com bust, when LIN fell 33.5% and the S&P 500 fell 47.5%.

What diversifies LIN?

These had a low correlation with LIN over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.41), SMH (correlation 0.38) and GLD (correlation 0.20); among large stocks, CAH (correlation 0.27), CLS (correlation 0.01) and FIX (correlation 0.44). A correlation near zero means the two have moved largely independently.

How we measure

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Popular alternatives to LIN

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