# How Teradyne (TER) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/ter
> 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 TER alone. It places TER (Teradyne, Inc.) 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 TER stands in the market, and of the alternatives worth a closer look.

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

## Key findings

- **Right now:** Over the past 6 months, TER fell 10.2% while the S&P 500 rose 9.1%. The slide is TER's own: it is 30.4% below its high, against 1.3% for the S&P 500.
- **Stock or market?:** TER rose 0.9% over the past 3 months, 3.1 points ahead of the semiconductor equipment ETF SMH (VanEck Semiconductor ETF), which fell 2.2%. The S&P 500 rose 3.9%. Its semiconductor equipment peers did not move as one over the past 3 months: COHU rose 2.3%, while AMAT (Applied Materials) fell 22.9%.
- **Past 1 to 3 years:** TER has run far ahead of the market, rising 142% over the past year against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (271% against 89.3%). TER lagged its semiconductor equipment peers in 2023, then moved up the pack in 2025.
- **Long term:** TER turned $10,000 into $166,000 over the past decade, against $42,100 in the S&P 500. TER's 10-year return of 1,565% puts it ahead of 97% of the stocks worth at least $300 million with that much history. The S&P 500 returned 321%.
- **In a crash:** Across seven sell-offs, TER has typically fallen 1.6 times as far as the S&P 500. In the 2022 bear market, TER fell 56.6%, against 24.5% for the S&P 500. That was more than ASML (ASML Holding, 48.4%) but less than UCTT (Ultra Clean, 58.8%).
- **Diversification:** Against the S&P 500, TER has a correlation of 0.55 over 5 years, more closely than 83% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Over 10 years, TER's beta versus the S&P 500 was 1.53: in the S&P 500's rising months it gained 1.7 times as much as the index, and in falling months it lost 1.2 times as much.
- **Better options**
  - **Popular alternatives:** TSM (Taiwan Semiconductor Manufacturing), KLAC (KLA) and LRCX (Lam Research) earned more than TER with less volatility over the past 5 years. TSM returned 31.5% a year at 38.5% volatility, against 24.0% a year at 54.3%.
  - **Nearby categories and themes:** ANET (Arista Networks, communications equipment) and ASX (ASE Technology Holding, semiconductors) earned more than TER with less volatility over the past 5 years. ANET returned 49.0% a year at 49.0% volatility, against 24.0% a year at 54.3%.
  - **Whole market:** 183 of the 3,633 stocks and funds worth at least $500 million earned more than TER with less volatility over the past 5 years, among them TSM (Taiwan Semiconductor Manufacturing), AVGO (Broadcom) and LLY (Eli Lilly and Company).

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

This chart tracks a hypothetical $10,000 investment in TER over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of TER over the same span and TER's popular alternatives, among those that traded for the entire period.

- $10,000 invested in TER at the end of September 1997 would have grown to $161,859 by September 2026, more than the $132,907 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of TER, and LRCX finished highest, at $2,488,626.

## TER 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.

- TER is still 30.4% below its all-time high.
- TER's deepest decline since it began trading in 1986 was 97.3%, from April 2000 to November 2008. It took about 12 years from the low to climb back to its old high.
- Over 29 full calendar years, TER's best was 1999, when it returned 211%, and its worst was 2008, when it lost 59.1%. It lost money in ten of those years.

- Type: Stock, Technology (Semiconductors)
- Trading since: October 17, 1986
- Market value: $53B
- Volatility (5 years): 54.3%; Sharpe ratio: 0.67
- Worst decline ever: −97.3%, from April 28, 2000 to November 20, 2008; back at its high by November 16, 2020

| Period | TER total return |
| --- | --- |
| 1 month | −11.8% |
| 3 months | +0.9% |
| 6 months | −10.2% |
| year to date | +62.4% |
| 1 year | +142% |
| 3 years | +271% |
| 5 years | +193% |
| 10 years | +1,565% |

## TER against the whole market

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

### How does TER rank among all stocks?

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

- TER's 1-year return ranks in the top 3% of the 3,287 stocks worth at least $300 million with 1 year of history.

| Measure | TER | Rank |
| --- | --- | --- |
| 1-year return | +142% | 85 of 3,287 (top 3%) |
| 3-year return | +271% | 263 of 3,017 (top 9%) |
| 5-year return | +193% | 335 of 2,893 (top 12%) |
| 10-year return | +1,565% | 59 of 2,202 (top 3%) |
| Volatility, 5 years | 54.3% | 2,090 of 2,893 (top 73%) |
| Sharpe ratio, 5 years | 0.67 | 524 of 2,893 (top 19%) |
| Worst decline, past 10 years | −59.1% | 847 of 2,187 (top 39%) |

### What has beaten TER 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).

- 177 stocks and six ETFs worth at least $500 million sit in the green region: each earned more than TER over the past 5 years with smaller price swings. That is 5% of the 3,633 screened.
- Among those with at least half TER's swings, FIX has the best return for its risk: 77.0% a year at 46.7% volatility, 14% less than TER's 54.3%, and a Sharpe ratio (return above cash per unit of volatility) of 1.46 against 0.67 for TER.
- Among TER's popular alternatives, KLAC, TSM and LRCX are in the region. KLAC earned 38.7% a year against 24.0% a year for TER, at 46.7% volatility, 14% less than TER's 54.3%.

### Is there a better investment than TER?

The table below lists investments that beat TER 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 TER's popular alternatives, TSM, KLAC and LRCX earned more than TER with less volatility over the past 5 years. TSM returned 31.5% a year at 38.5% volatility, against 24.0% a year at 54.3%.
- Looking beyond its popular alternatives, ANET (communications equipment) and ASX (semiconductors) earned more than TER with less volatility over the past 5 years. ANET returned 49.0% a year at 49.0% volatility, against 24.0% a year at 54.3%.
- Across the whole market, 183 of the 3,633 stocks and funds worth at least $500 million earned more than TER with less volatility over the past 5 years, among them TSM, AVGO and LLY.

The 15 strongest of 183 investments that beat TER 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 TER | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| TER: Teradyne, Inc. (this page) |  | +24.0% | 54.3% | 0.67 | −59.1% | +1,565% |  |  |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | Pharmaceuticals | +40.7% | 32.8% | 1.21 | −34.5% | +1,807% | 0.20 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [APH](https://easycompare.io/research/aph): Amphenol Corporation | Electronic Components | +33.8% | 32.2% | 1.07 | −37.5% | +965% | 0.64 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [ANET](https://easycompare.io/research/anet): Arista Networks, Inc. | Communications Equipment | +49.0% | 49.0% | 1.06 | −52.2% | +3,439% | 0.44 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [ASX](https://easycompare.io/research/asx): ASE Technology Holding Co., Ltd. | Semiconductors | +48.8% | 43.0% | 1.15 | −52.5% | +967% | 0.73 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| VCTR: Victory Capital Holdings, Inc. | Asset Management | +28.1% | 35.0% | 0.89 | −45.2% | — | 0.23 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| NHC: National HealthCare Corporation | Medical - Care Facilities | +32.0% | 28.5% | 1.12 | −35.3% | +394% | 0.25 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.15 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [FIX](https://easycompare.io/research/fix): Comfort Systems USA, Inc. | Engineering & Construction | +77.0% | 46.7% | 1.46 | −49.7% | +5,305% | 0.52 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [BBVA](https://easycompare.io/research/bbva): Banco Bilbao Vizcaya Argentaria, S.A. | Banks | +38.7% | 33.3% | 1.16 | −69.6% | +542% | 0.10 | Higher return, lower volatility; Higher return in most periods |
| [ABBV](https://easycompare.io/research/abbv): AbbVie Inc. | Pharmaceuticals | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.13 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| DXJ: WisdomTree Japan Hedged Equity Fund | International Equity | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.45 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [CAT](https://easycompare.io/research/cat): Caterpillar Inc. | Industrial Machinery | +31.1% | 31.9% | 1.01 | −43.4% | +936% | 0.63 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [MCK](https://easycompare.io/research/mck): McKesson Corporation | Health Care Distribution | +38.7% | 25.0% | 1.44 | −38.1% | +586% | 0.00 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [TEVA](https://easycompare.io/research/teva): Teva Pharmaceutical Industries Limited | Pharmaceuticals | +32.2% | 42.8% | 0.86 | −85.5% | −3.6% | 0.24 | Higher return, lower volatility; Higher return in most periods |
| [MFG](https://easycompare.io/research/mfg): Mizuho Financial Group, Inc. | Banks | +33.6% | 30.6% | 1.10 | −45.7% | +345% | 0.14 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |

## TER against its popular alternatives

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

### How do TER'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.

- Five of the 22 popular alternatives, led by NVDA, KLAC and LRCX, were both more rewarding and calmer than TER over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, TER returned 24.0% a year, more than the S&P 500's 12.7%, with higher volatility (54.3% against 17.1%).

### Has TER consistently beaten its popular alternatives?

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

- Two of the 22 popular alternatives, NVDA and TSM, outperformed TER in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- KLAC, TSM and LRCX earned more for the risk they took than TER (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
- LRCX outperformed TER over all three long-term periods but in only one of the five short-term ones, so TER has had the better of it lately.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of TER | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| TER: Teradyne, Inc. (this page) | +142% | +271% | +193% | +1,565% |  |  | 0.67 |
| [NVDA](https://easycompare.io/research/nvda): NVIDIA Corporation | +18.8% | +425% | +884% | +13,019% | 3/5 short-term, 3/3 long-term | consistent | 1.14 |
| [TSM](https://easycompare.io/research/tsm): Taiwan Semiconductor Manufacturing Company Limited | +44.3% | +382% | +293% | +1,505% | 3/5 short-term, 2/3 long-term | consistent | 0.91 |
| [LRCX](https://easycompare.io/research/lrcx): Lam Research Corporation | +83.7% | +350% | +390% | +2,989% | 1/5 short-term, 3/3 long-term |  | 0.89 |
| AEHR: Aehr Test Systems | +115% | +96.2% | +207% | +1,987% | 1/5 short-term, 2/3 long-term |  | 0.72 |
| CAMT: Camtek Ltd. | +4.1% | +149% | +231% | +4,551% | 0/5 short-term, 2/3 long-term |  | 0.70 |
| [KLAC](https://easycompare.io/research/klac): KLA Corporation | +41.0% | +258% | +413% | +2,534% | 0/5 short-term, 2/3 long-term |  | 0.94 |
| FORM: FormFactor, Inc. | +144% | +227% | +201% | +964% | 3/5 short-term, 1/3 long-term |  | 0.67 |
| [ASML](https://easycompare.io/research/asml): ASML Holding N.V. | +57.5% | +188% | +123% | +1,628% | 2/5 short-term, 1/3 long-term |  | 0.59 |
| [AMAT](https://easycompare.io/research/amat): Applied Materials, Inc. | +78.5% | +209% | +215% | +1,488% | 1/5 short-term, 1/3 long-term |  | 0.72 |
| ONTO: Onto Innovation Inc. | +61.9% | +86.2% | +200% | +1,005% | 0/5 short-term, 1/3 long-term |  | 0.67 |
| [KEYS](https://easycompare.io/research/keys): Keysight Technologies, Inc. | +103% | +172% | +91.9% | +923% | 3/5 short-term, 0/3 long-term |  | 0.55 |
| KLIC: Kulicke and Soffa Industries, Inc. | +106% | +95.7% | +64.1% | +598% | 3/5 short-term, 0/3 long-term |  | 0.45 |
| COHU: Cohu, Inc. | +132% | +61.0% | +68.5% | +406% | 3/5 short-term, 0/3 long-term |  | 0.46 |
| [TXN](https://easycompare.io/research/txn): Texas Instruments Incorporated | +58.7% | +105% | +60.5% | +424% | 2/5 short-term, 0/3 long-term |  | 0.45 |
| [ROK](https://easycompare.io/research/rok): Rockwell Automation, Inc. | +22.9% | +68.9% | +45.6% | +335% | 2/5 short-term, 0/3 long-term |  | 0.40 |
| VECO: Veeco Instruments Inc. | +50.9% | +77.7% | +90.3% | +110% | 2/5 short-term, 0/3 long-term |  | 0.51 |
| ACLS: Axcelis Technologies, Inc. | +34.6% | −21.9% | +126% | +730% | 1/5 short-term, 0/3 long-term |  | 0.57 |
| UCTT: Ultra Clean Holdings, Inc. | +76.8% | +108% | +16.2% | +574% | 1/5 short-term, 0/3 long-term |  | 0.37 |
| PLAB: Photronics, Inc. | +17.1% | +49.6% | +129% | +194% | 1/5 short-term, 0/3 long-term |  | 0.58 |
| ICHR: Ichor Holdings, Ltd. | +87.0% | +63.9% | +6.6% | — | 1/5 short-term, 0/3 long-term |  | 0.38 |
| AMKR: Amkor Technology, Inc. | +30.1% | +97.6% | +93.5% | +363% | 0/5 short-term, 0/3 long-term |  | 0.52 |
| AOSL: Alpha and Omega Semiconductor Limited | −27.9% | −11.8% | −27.6% | +6.5% | 0/5 short-term, 0/3 long-term |  | 0.28 |

### How did TER do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where TER ranked among its popular alternatives each year.

- TER finished ahead of the S&P 500 in 13 of its 29 full calendar years.
- Among its popular alternatives, LRCX came out ahead of TER most often, in 18 of the 29 years both traded.
- Ranked against its popular alternatives each year, TER finished in the top quarter in seven of 29 years and in the bottom quarter in eight. In 2025, it ranked 7 of 23.

| Year | TER | SPY |
| --- | --- | --- |
| 2025 | +54.4% | +17.7% |
| 2024 | +16.5% | +24.9% |
| 2023 | +24.8% | +26.2% |
| 2022 | −46.4% | −18.2% |
| 2021 | +36.8% | +28.7% |
| 2020 | +76.8% | +18.3% |
| 2019 | +119% | +31.2% |
| 2018 | −24.4% | −4.6% |
| 2017 | +65.8% | +21.7% |
| 2016 | +24.3% | +12.0% |

## Risk and diversification

How TER 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 TER's worst declines?

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

- In all four of TER's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: TER fell 73.4% from October 1997 to October 1998, while the S&P 500 rose 1.1%.
- The slowest recovery came after TER fell 97.3% from April 2000 to November 2008; it did not regain that peak until November 2020, 12 years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −97.3% | April 28, 2000 | November 20, 2008 | November 16, 2020 | −40.1% | dot-com bust |
| −89.2% | October 5, 1987 | October 15, 1990 | January 17, 1995 | — |  |
| −73.4% | October 10, 1997 | October 8, 1998 | January 20, 1999 | +1.1% |  |
| −72.3% | August 17, 1995 | July 23, 1996 | May 23, 1997 | +14.1% |  |
| −59.1% | December 27, 2021 | April 8, 2025 | October 29, 2025 | +9.0% | 2022 bear market |

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

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

- TER fell further than the S&P 500 in nine of the ten crashes it has traded through. The clearest case was the dot-com bust, when TER fell 93.4% and the S&P 500 fell 47.5%.
- Among its popular alternatives, TSM held up best, falling less than TER in nine of the ten crashes they both traded through.

| Crash | Dates | TER fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −93.4% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −79.2% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.5% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −28.2% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −18.3% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −10.7% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −24.6% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −34.8% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −56.6% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −1.9% | −3.4% |

### How closely does TER move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- Over the past 10 years, TER captured 167% of the S&P 500's gains in rising months and 121% of its losses in falling months, with a beta of 1.53. It amplified the market's moves in both directions.
- KLAC took just 59% of the S&P 500's losses, against 121% for TER, while still keeping 152% of its gains.
- Ten of the 21 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than TER's 1.37, led by KLAC, CAMT and TSM.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| TER: Teradyne, Inc. (this page) | 167% | 121% | 1.53 |
| [NVDA](https://easycompare.io/research/nvda): NVIDIA Corporation | 248% | 140% | 1.83 |
| [TSM](https://easycompare.io/research/tsm): Taiwan Semiconductor Manufacturing Company Limited | 138% | 75.0% | 1.15 |
| [LRCX](https://easycompare.io/research/lrcx): Lam Research Corporation | 183% | 104% | 1.56 |
| AEHR: Aehr Test Systems | 184% | 123% | 2.29 |
| CAMT: Camtek Ltd. | 191% | 96.0% | 1.60 |
| [KLAC](https://easycompare.io/research/klac): KLA Corporation | 152% | 59.0% | 1.32 |
| FORM: FormFactor, Inc. | 132% | 81.0% | 1.29 |
| [ASML](https://easycompare.io/research/asml): ASML Holding N.V. | 170% | 132% | 1.44 |
| [AMAT](https://easycompare.io/research/amat): Applied Materials, Inc. | 152% | 97.0% | 1.51 |
| ONTO: Onto Innovation Inc. | 139% | 92.0% | 1.41 |
| [KEYS](https://easycompare.io/research/keys): Keysight Technologies, Inc. | 121% | 71.0% | 1.08 |
| KLIC: Kulicke and Soffa Industries, Inc. | 131% | 111% | 1.44 |
| COHU: Cohu, Inc. | 122% | 116% | 1.65 |
| [TXN](https://easycompare.io/research/txn): Texas Instruments Incorporated | 113% | 108% | 1.18 |
| [ROK](https://easycompare.io/research/rok): Rockwell Automation, Inc. | 122% | 138% | 1.46 |
| VECO: Veeco Instruments Inc. | 76.0% | 84.0% | 1.38 |
| ACLS: Axcelis Technologies, Inc. | 151% | 136% | 1.67 |
| UCTT: Ultra Clean Holdings, Inc. | 165% | 156% | 1.93 |
| PLAB: Photronics, Inc. | 109% | 139% | 1.14 |
| AMKR: Amkor Technology, Inc. | 152% | 174% | 1.94 |
| AOSL: Alpha and Omega Semiconductor Limited | 116% | 206% | 2.60 |

### What diversifies TER?

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 TER into GLD would have cut the portfolio's volatility by 19% over the past 5 years and raised its annual return (+30.2% for TER alone, +30.5% for the mix).
- Among large ETFs, LVHI, DXJ and FJAN have moved largely independently of TER over the past 5 years, with correlations of 0.49 or lower, and each still earned a positive 5-year return.
- MCK made money in six of the ten calendar years in which TER lost money.

| Investment | Correlation with TER | 5Y return | Volatility | Sharpe | Rose in TER's 10 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.34 | +119% | 11.1% | 1.48 | 1 of 10 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.45 | +225% | 19.1% | 1.34 | 1 of 10 |
| FJAN: FT Vest U.S. Equity Buffer ETF - January | 0.49 | +69.0% | 10.5% | 1.05 | 0 of 10 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.29 | +101% | 14.5% | 1.04 | 1 of 10 |
| HDV: iShares Core High Dividend ETF | 0.24 | +83.3% | 13.0% | 1.00 | 1 of 10 |
| FTLS: First Trust Long/Short Equity ETF | 0.48 | +62.9% | 10.4% | 0.99 | 0 of 10 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.03 | +126% | 18.9% | 0.96 | 4 of 10 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.04 | +177% | 25.5% | 0.93 | 6 of 10 |

## Common questions

### What was TER's worst drawdown?

TER's deepest decline since it began trading in 1986 was 97.3%, from April 2000 to November 2008. It took about 12 years from the low to climb back to its old high.

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

Over 29 full calendar years, TER's best year was 1999, when it returned 211%. Its worst was 2008, with a return of -59.1%.

### Is there a better investment than TER?

Among TER's popular alternatives, TSM, KLAC and LRCX earned more than TER with less volatility over the past 5 years. TSM returned 31.5% a year at 38.5% volatility, against 24.0% a year at 54.3%. Looking beyond its popular alternatives, ANET (communications equipment) and ASX (semiconductors) earned more than TER with less volatility over the past 5 years. ANET returned 49.0% a year at 49.0% volatility, against 24.0% a year at 54.3%.

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

Yes. TER's volatility over the past 5 years was 54.3%, 3.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, TER's return lands within 54.3% 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 TER's Sharpe ratio?

TER's Sharpe ratio over the past 5 years was 0.67, against 0.79 for the S&P 500, so TER 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 TER with the S&P 500?

Over the past 5 years, TER's monthly returns had a correlation of 0.55 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 TER instead: the lower it is, the more that option would diversify a TER holding.

### What are the best alternatives to TER?

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

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

TER finished ahead of the S&P 500 (SPY) in 13 of 29 full calendar years. In 2025, it returned +54.4%, against +17.7% for the index.

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

TER fell less than the S&P 500 (SPY) in one of the ten major crashes it has traded through, and further in nine. The clearest case was the dot-com bust, when TER fell 93.4% and the S&P 500 fell 47.5%.

### What diversifies TER?

These had a low correlation with TER over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.34), DXJ (correlation 0.45) and FJAN (correlation 0.49); among large stocks, CAH (correlation 0.15), CLS (correlation 0.36) and MCK (correlation 0.00). A correlation near zero means the two have moved largely independently.

## More research

- [NVIDIA (NVDA) Performance, Alternatives and Market Rank](https://easycompare.io/research/nvda)
- [Taiwan Semiconductor Manufacturing (TSM) Performance, Alternatives and Market Rank](https://easycompare.io/research/tsm)
- [Lam Research (LRCX) Performance, Alternatives and Market Rank](https://easycompare.io/research/lrcx)
- [KLA (KLAC) Performance, Alternatives and Market Rank](https://easycompare.io/research/klac)
- [ASML Holding (ASML) Performance, Alternatives and Market Rank](https://easycompare.io/research/asml)
- [Applied Materials (AMAT) Performance, Alternatives and Market Rank](https://easycompare.io/research/amat)
- [Keysight Technologies (KEYS) Performance, Alternatives and Market Rank](https://easycompare.io/research/keys)
- [Texas Instruments (TXN) Performance, Alternatives and Market Rank](https://easycompare.io/research/txn)
- [Rockwell Automation (ROK) Performance, Alternatives and Market Rank](https://easycompare.io/research/rok)
- [Schwab U.S. Dividend Equity ETF (SCHD) Performance, Alternatives and Market Rank](https://easycompare.io/research/schd)
- [Apple (AAPL) Performance, Alternatives and Market Rank](https://easycompare.io/research/aapl)
- [Alphabet (GOOG) Performance, Alternatives and Market Rank](https://easycompare.io/research/goog)

## Explore further

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