# How Texas Instruments (TXN) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/txn
> 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 TXN alone. It places TXN (Texas Instruments Incorporated) 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 TXN stands in the market, and of the alternatives worth a closer look.

Period covered: TXN'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:** TXN has outpaced the market, rising 20.1% over the past 6 months against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. Its semiconductor peers split over the past 6 months: MXL (MaxLinear) rose 132%, while AVGO (Broadcom) fell 16.0%.
- **Stock or market?:** TXN fell 1.7% over the past 3 months, in line with the semiconductors ETF SMH (VanEck Semiconductor ETF), which fell 2.2%. The S&P 500 rose 3.9%. Its semiconductor peers did not move as one over the past 3 months: SWKS (Skyworks Solutions) rose 36.0%, while AVGO (Broadcom) fell 11.4%.
- **Past 1 to 3 years:** Over the past year, TXN rose 58.7% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (105% against 89.3%). Even so, TXN finished behind the S&P 500 in both 2024 and 2025.
- **Long term:** TXN turned $10,000 into $52,400 over the past decade, against $42,100 in the S&P 500. That said, over 5 years TXN trailed the index: 60.5% against 81.7%.
- **In a crash:** Across seven sell-offs, TXN has typically fallen 1.2 times as far as the S&P 500. Even so, in the 2022 bear market, TXN held up better than its semiconductor peers, including AVGO (Broadcom), MPWR and NXPI.
- **Diversification:** TXN is more of the same, not a cushion: a correlation of 0.61 with the S&P 500 over 5 years and 0.61 with the total US market, more closely than 92% of stocks worth at least $300 million. When the S&P 500 had a down month, TXN usually fell with it (18 of 22 months).
- **Better options**
  - **Popular alternatives:** ADI (Analog Devices) and APH (Amphenol) earned more than TXN over the past 5 years with similar volatility: ADI returned 19.5% a year at 34.1% volatility, against 9.9% a year at 33.7%.
  - **Nearby categories and themes:** AAPL (Apple, computer hardware) and MSFT (Microsoft, software) earned more than TXN with less volatility over the past 5 years. AAPL returned 18.5% a year at 28.0% volatility, against 9.9% a year at 33.7%.
  - **Versus the S&P 500:** Simply owning the S&P 500 would have done better over the past 5 years: 12.7% a year at 17.1% volatility, against 9.9% at 33.7% for TXN.

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

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

- $10,000 invested in TXN at the end of September 1997 would have grown to $277,580 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 TXN, and APH finished highest, at $3,002,572.

## TXN 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.

- TXN's deepest decline since it began trading in 1986 was 85.8%, from March 2000 to October 2002. It took about 14 years from the low to climb back to its old high.
- Over 29 full calendar years, TXN's best was 1999, when it returned 126%, and its worst was 2008, when it lost 52.8%. It lost money in ten of those years.
- TXN is 16.0% below its all-time high.

- Type: Stock, Technology (Semiconductors)
- Trading since: October 17, 1986
- Market value: $254B
- Volatility (5 years): 33.7%; Sharpe ratio: 0.45
- Worst decline ever: −85.8%, from March 3, 2000 to October 9, 2002; back at its high by November 25, 2016

| Period | TXN total return |
| --- | --- |
| 1 month | +2.6% |
| 3 months | −1.7% |
| 6 months | +20.1% |
| year to date | +59.1% |
| 1 year | +58.7% |
| 3 years | +105% |
| 5 years | +60.5% |
| 10 years | +424% |

## TXN against the whole market

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

### How does TXN rank among all stocks?

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

- TXN's worst decline of the past 10 years ranks in the top 2% of the 2,187 stocks worth at least $300 million, where the top fell the least.

| Measure | TXN | Rank |
| --- | --- | --- |
| 1-year return | +58.7% | 432 of 3,287 (top 14%) |
| 3-year return | +105% | 879 of 3,017 (top 30%) |
| 5-year return | +60.5% | 989 of 2,893 (top 35%) |
| 10-year return | +424% | 390 of 2,202 (top 18%) |
| Volatility, 5 years | 33.7% | 1,039 of 2,893 (top 36%) |
| Sharpe ratio, 5 years | 0.45 | 1,083 of 2,893 (top 38%) |
| Worst decline, past 10 years | −33.4% | 48 of 2,187 (top 3%) |

### What has beaten TXN 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).

- 302 stocks and 293 ETFs worth at least $500 million sit in the green region: each earned more than TXN over the past 5 years with smaller price swings. That is 16% of the 3,633 screened.
- Among those with at least half TXN's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 27% less than TXN's 33.7%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.45 for TXN.
- None of TXN's popular alternatives made it, but MOG-A (industrial automation theme) did: 36.6% a year at 32.0% volatility, 5% less than TXN's 33.7%.

### Is there a better investment than TXN?

The table below lists investments that beat TXN 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 TXN's popular alternatives, ADI and APH earned more than TXN over the past 5 years with similar volatility: ADI returned 19.5% a year at 34.1% volatility, against 9.9% a year at 33.7%.
- Looking beyond its popular alternatives, AAPL (computer hardware) and MSFT (software) earned more than TXN with less volatility over the past 5 years. AAPL returned 18.5% a year at 28.0% volatility, against 9.9% a year at 33.7%.
- Simply owning the S&P 500 would have done better over the past 5 years: 12.7% a year at 17.1% volatility, against 9.9% at 33.7% for TXN.

The 15 strongest of 595 investments that beat TXN 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 TXN | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| TXN: Texas Instruments Incorporated (this page) |  | +9.9% | 33.7% | 0.45 | −33.4% | +424% |  |  |
| [CAH](https://easycompare.io/research/cah): Cardinal Health, Inc. | Health Care Distribution | +42.1% | 24.7% | 1.55 | −46.1% | +349% | -0.03 | 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% | 0.06 | Higher return, lower volatility; Higher return in most periods |
| [PM](https://easycompare.io/research/pm): Philip Morris International Inc. | Tobacco | +21.0% | 23.4% | 0.94 | −42.9% | +242% | 0.32 | Higher return, lower volatility; Higher return in most periods |
| [WMT](https://easycompare.io/research/wmt): Walmart Inc. | Discount Retail | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.24 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [TRGP](https://easycompare.io/research/trgp): Targa Resources Corp. | Oil & Gas Midstream | +41.8% | 31.7% | 1.27 | −90.8% | +829% | 0.27 | Higher return, lower volatility; Higher return in most periods |
| [TRV](https://easycompare.io/research/trv): The Travelers Companies, Inc. | Property & Casualty Insurance | +22.4% | 22.3% | 1.02 | −46.3% | +347% | 0.09 | Higher return, lower volatility; Higher return in most periods |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | Pharmaceuticals | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.07 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [E](https://easycompare.io/research/e): Eni S.p.A. | Integrated Oil & Gas | +23.0% | 25.6% | 0.94 | −61.4% | +278% | 0.13 | Higher return, lower volatility; Higher return in most periods |
| [BNS](https://easycompare.io/research/bns): The Bank of Nova Scotia | Banks | +12.9% | 19.9% | 0.71 | −46.9% | +187% | 0.49 | Higher return, lower volatility; Higher return in most periods |
| [CTAS](https://easycompare.io/research/ctas): Cintas Corporation | Business Services | +16.5% | 23.1% | 0.78 | −48.4% | +808% | 0.34 | Higher return, lower volatility; Higher return in most periods |
| [AAPL](https://easycompare.io/research/aapl): Apple Inc. | Computer Hardware | +18.5% | 28.0% | 0.75 | −38.5% | +1,168% | 0.38 | Higher return, lower volatility; Higher return in most periods |
| [NVS](https://easycompare.io/research/nvs): Novartis AG | Pharmaceuticals | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.29 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [AMGN](https://easycompare.io/research/amgn): Amgen Inc. | Biotechnology | +19.6% | 24.9% | 0.85 | −24.9% | +266% | 0.12 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| BAP: Credicorp Ltd. | Banks | +30.8% | 30.3% | 1.04 | −59.2% | +298% | 0.36 | Higher return, lower volatility; Higher return in most periods |
| [MSFT](https://easycompare.io/research/msft): Microsoft Corporation | Software | +12.5% | 28.2% | 0.56 | −37.1% | +946% | 0.22 | Higher return, lower volatility; Higher return in most periods |

## TXN against its popular alternatives

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

### How do TXN's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- Only APH was both more rewarding and calmer than TXN over the past 5 years, earning a higher annual return with lower volatility.
- Ten of the 20 popular alternatives earned less than TXN over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, TXN returned 9.9% a year, less than the S&P 500's 12.7%, with higher volatility (33.7% against 17.1%).

### Has TXN consistently beaten its popular alternatives?

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

- Only one of the 20 popular alternatives, ADI, outperformed TXN in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- AVGO outperformed TXN over all three long-term periods but in none of the five short-term ones, so TXN has had the better of it lately.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of TXN | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| TXN: Texas Instruments Incorporated (this page) | +58.7% | +105% | +60.5% | +424% |  |  | 0.45 |
| [ADI](https://easycompare.io/research/adi): Analog Devices, Inc. | +63.3% | +150% | +144% | +652% | 3/5 short-term, 3/3 long-term | consistent | 0.69 |
| [AMAT](https://easycompare.io/research/amat): Applied Materials, Inc. | +78.5% | +209% | +215% | +1,488% | 1/5 short-term, 3/3 long-term |  | 0.72 |
| [APH](https://easycompare.io/research/aph): Amphenol Corporation | +25.6% | +311% | +329% | +965% | 1/5 short-term, 3/3 long-term |  | 1.07 |
| [KLAC](https://easycompare.io/research/klac): KLA Corporation | +41.0% | +258% | +413% | +2,534% | 0/5 short-term, 3/3 long-term |  | 0.94 |
| [AVGO](https://easycompare.io/research/avgo): Broadcom Inc. | −3.5% | +305% | +617% | +2,380% | 0/5 short-term, 3/3 long-term |  | 1.11 |
| [MPWR](https://easycompare.io/research/mpwr): Monolithic Power Systems, Inc. | +21.9% | +204% | +159% | +1,659% | 0/5 short-term, 3/3 long-term |  | 0.62 |
| [ASML](https://easycompare.io/research/asml): ASML Holding N.V. | +57.5% | +188% | +123% | +1,628% | 0/5 short-term, 3/3 long-term |  | 0.59 |
| FLEX: Flex Ltd. | +39.4% | +263% | +365% | +534% | 0/5 short-term, 3/3 long-term |  | 0.88 |
| ON: ON Semiconductor Corporation | +37.8% | −10.9% | +66.0% | +540% | 1/5 short-term, 2/3 long-term |  | 0.46 |
| SITM: SiTime Corporation | +70.6% | +364% | +124% | — | 1/5 short-term, 2/3 long-term |  | 0.60 |
| SLAB: Silicon Laboratories Inc. | +60.8% | +115% | +47.7% | +277% | 3/5 short-term, 1/3 long-term |  | 0.39 |
| MXL: MaxLinear, Inc. | +317% | +266% | +42.5% | +277% | 3/5 short-term, 1/3 long-term |  | 0.49 |
| [STM](https://easycompare.io/research/stm): STMicroelectronics N.V. | +52.9% | +18.8% | +11.6% | +525% | 1/5 short-term, 1/3 long-term |  | 0.28 |
| SWKS: Skyworks Solutions, Inc. | +10.2% | −2.8% | −43.5% | +29.2% | 2/5 short-term, 0/3 long-term |  | -0.05 |
| DIOD: Diodes Incorporated | +49.4% | +14.1% | −5.6% | +324% | 1/5 short-term, 0/3 long-term |  | 0.23 |
| [MCHP](https://easycompare.io/research/mchp): Microchip Technology Incorporated | +16.0% | +8.5% | +13.0% | +207% | 0/5 short-term, 0/3 long-term |  | 0.28 |
| [NXPI](https://easycompare.io/research/nxpi): NXP Semiconductors N.V. | +10.0% | +34.9% | +31.9% | +159% | 0/5 short-term, 0/3 long-term |  | 0.34 |
| POWI: Power Integrations, Inc. | +5.5% | −30.5% | −49.8% | +66.8% | 0/5 short-term, 0/3 long-term |  | -0.07 |
| ALGM: Allegro MicroSystems, Inc. | +11.2% | +17.5% | +5.5% | — | 0/5 short-term, 0/3 long-term |  | 0.28 |
| NVTS: Navitas Semiconductor Corp | −48.9% | +56.4% | −31.7% | — | 0/5 short-term, 0/3 long-term |  | 0.44 |

### How did TXN do year by year?

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

- TXN finished ahead of the S&P 500 in 17 of its 29 full calendar years, and behind it in each of the last three.
- Among its popular alternatives, SITM came out ahead of TXN most often, in five of the six years both traded.
- Ranked against its popular alternatives each year, TXN finished in the top quarter in four of 29 years and in the bottom quarter in four. In 2025, it ranked 16 of 21.

| Year | TXN | SPY |
| --- | --- | --- |
| 2025 | −4.5% | +17.7% |
| 2024 | +13.1% | +24.9% |
| 2023 | +6.4% | +26.2% |
| 2022 | −9.9% | −18.2% |
| 2021 | +17.5% | +28.7% |
| 2020 | +31.7% | +18.3% |
| 2019 | +39.6% | +31.2% |
| 2018 | −7.2% | −4.6% |
| 2017 | +46.8% | +21.7% |
| 2016 | +36.7% | +12.0% |

## Risk and diversification

How TXN 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 TXN's worst declines?

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

- In all four of TXN's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: TXN fell 48.6% from September 1995 to July 1996, while the S&P 500 rose 8.9%.
- The slowest recovery came after TXN fell 85.8% from March 2000 to October 2002; it did not regain that peak until November 2016, 14 years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −85.8% | March 3, 2000 | October 9, 2002 | November 25, 2016 | −42.7% | dot-com bust |
| −68.8% | October 5, 1987 | October 29, 1990 | June 28, 1993 | — |  |
| −48.6% | September 19, 1995 | July 23, 1996 | February 13, 1997 | +8.9% |  |
| −42.0% | October 13, 1997 | December 12, 1997 | November 18, 1998 | −1.3% |  |
| −33.4% | November 8, 2024 | April 21, 2025 | July 10, 2025 | −13.6% |  |

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

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

- None of its popular alternatives fell less than TXN in most of the crashes they both traded through.
- TXN fell further than the S&P 500 in five of the ten crashes it has traded through. The clearest case was the dot-com bust, when TXN fell 85.4% and the S&P 500 fell 47.5%.

| Crash | Dates | TXN fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −85.4% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −61.4% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −1.3% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −21.6% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −18.4% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −9.3% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −19.5% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −29.8% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −21.7% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −2.6% | −3.4% |

### How closely does TXN 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.

- Nine of the 17 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than TXN's 1.04, led by KLAC, AVGO and APH.
- KLAC took just 59% of the S&P 500's losses, against 108% for TXN, while still keeping 152% of its gains.
- Over the past 10 years, TXN captured 113% of the S&P 500's gains in rising months and 108% of its losses in falling months, with a beta of 1.18. It amplified the market's moves in both directions.

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

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| TXN: Texas Instruments Incorporated (this page) | 113% | 108% | 1.18 |
| [ADI](https://easycompare.io/research/adi): Analog Devices, Inc. | 117% | 92.0% | 1.20 |
| [AMAT](https://easycompare.io/research/amat): Applied Materials, Inc. | 152% | 97.0% | 1.51 |
| [APH](https://easycompare.io/research/aph): Amphenol Corporation | 125% | 79.0% | 1.24 |
| [KLAC](https://easycompare.io/research/klac): KLA Corporation | 152% | 59.0% | 1.32 |
| [AVGO](https://easycompare.io/research/avgo): Broadcom Inc. | 158% | 86.0% | 1.19 |
| [MPWR](https://easycompare.io/research/mpwr): Monolithic Power Systems, Inc. | 156% | 107% | 1.31 |
| [ASML](https://easycompare.io/research/asml): ASML Holding N.V. | 170% | 132% | 1.44 |
| FLEX: Flex Ltd. | 136% | 124% | 1.57 |
| ON: ON Semiconductor Corporation | 161% | 185% | 1.95 |
| SLAB: Silicon Laboratories Inc. | 113% | 130% | 1.18 |
| MXL: MaxLinear, Inc. | 140% | 169% | 2.95 |
| [STM](https://easycompare.io/research/stm): STMicroelectronics N.V. | 122% | 104% | 1.72 |
| SWKS: Skyworks Solutions, Inc. | 88.0% | 149% | 1.31 |
| DIOD: Diodes Incorporated | 128% | 146% | 1.53 |
| [MCHP](https://easycompare.io/research/mchp): Microchip Technology Incorporated | 127% | 170% | 1.72 |
| [NXPI](https://easycompare.io/research/nxpi): NXP Semiconductors N.V. | 115% | 157% | 1.63 |
| POWI: Power Integrations, Inc. | 89.0% | 133% | 1.28 |

### What diversifies TXN?

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 TXN into MCK would have cut the portfolio's volatility by 20% over the past 5 years and raised its annual return (+10.9% for TXN alone, +16.9% for the mix).
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of TXN over the past 5 years, with correlations of 0.34 or lower, and each still earned a positive 5-year return.
- XLE made money in six of the ten calendar years in which TXN lost money.

| Investment | Correlation with TXN | 5Y return | Volatility | Sharpe | Rose in TXN's 10 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.34 | +119% | 11.1% | 1.48 | 2 of 10 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.24 | +225% | 19.1% | 1.34 | 2 of 10 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.34 | +101% | 14.5% | 1.04 | 2 of 10 |
| FTLS: First Trust Long/Short Equity ETF | 0.48 | +62.9% | 10.4% | 0.99 | 1 of 10 |
| EWP: iShares MSCI Spain ETF | 0.35 | +140% | 20.3% | 0.97 | 3 of 10 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.06 | +126% | 18.9% | 0.96 | 4 of 10 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.18 | +177% | 25.5% | 0.93 | 6 of 10 |
| AMLP: Alerian MLP ETF | 0.22 | +111% | 18.9% | 0.89 | 3 of 10 |

## Common questions

### What was TXN's worst drawdown?

TXN's deepest decline since it began trading in 1986 was 85.8%, from March 2000 to October 2002. It took about 14 years from the low to climb back to its old high.

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

Over 29 full calendar years, TXN's best year was 1999, when it returned 126%. Its worst was 2008, with a return of -52.8%.

### Is there a better investment than TXN?

Among TXN's popular alternatives, ADI and APH earned more than TXN over the past 5 years with similar volatility: ADI returned 19.5% a year at 34.1% volatility, against 9.9% a year at 33.7%. Looking beyond its popular alternatives, AAPL (computer hardware) and MSFT (software) earned more than TXN with less volatility over the past 5 years. AAPL returned 18.5% a year at 28.0% volatility, against 9.9% a year at 33.7%.

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

Yes. TXN's volatility over the past 5 years was 33.7%, about twice the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, TXN's return lands within 33.7% 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 TXN's Sharpe ratio?

TXN's Sharpe ratio over the past 5 years was 0.45, against 0.79 for the S&P 500, so TXN 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 TXN with the S&P 500?

Over the past 5 years, TXN's monthly returns had a correlation of 0.61 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 TXN instead: the lower it is, the more that option would diversify a TXN holding.

### What are the best alternatives to TXN?

Of the 20 popular alternatives we compared, one outperformed TXN in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: ADI.

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

TXN finished ahead of the S&P 500 (SPY) in 17 of 29 full calendar years. In 2025, it returned -4.5%, against +17.7% for the index.

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

TXN fell less than the S&P 500 (SPY) in three of the ten major crashes it has traded through, and further in five. The clearest case was the dot-com bust, when TXN fell 85.4% and the S&P 500 fell 47.5%.

### What diversifies TXN?

These had a low correlation with TXN over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.34), DXJ (correlation 0.24) and EMLP (correlation 0.34); among large stocks, CAH (correlation -0.03), CLS (correlation 0.29) and FIX (correlation 0.33). A correlation near zero means the two have moved largely independently.

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## Explore further

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