AEHR vs. MLI

Last updated Jun 9, 2026

AEHR (Aehr Test Systems) and MLI (Mueller Industries, Inc.) are both stocks. AEHR operates in Semiconductor Equipment & Materials (Technology), while MLI operates in Metal Fabrication (Industrials). Over the past 10 years, AEHR returned 49.80%/yr vs 26.27%/yr for MLI. At a 0.17 correlation, their price movements are largely independent.

Performance

AEHR vs. MLI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aehr Test Systems (AEHR) and Mueller Industries, Inc. (MLI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AEHR achieves a 373.40% return, which is significantly higher than MLI's 16.76% return. Over the past 10 years, AEHR has outperformed MLI with an annualized return of 49.80%, while MLI has yielded a comparatively lower 26.27% annualized return.

AEHR

• 1D: -2.92%
• 1M: -1.70%
• YTD: 373.40%
• 6M: 300.42%
• 1Y: 742.86%
• 3Y*: 30.98%
• 5Y*: 104.84%
• 10Y*: 49.80%

MLI

• 1D: 0.35%
• 1M: -5.12%
• YTD: 16.76%
• 6M: 19.89%
• 1Y: 73.96%
• 3Y*: 49.09%
• 5Y*: 43.56%
• 10Y*: 26.27%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AEHR vs. MLI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AEHR Aehr Test Systems	373.40%	21.41%	-37.32%	31.99%	-16.87%	855.73%	26.50%	41.84%	-47.97%	12.45%
MLI Mueller Industries, Inc.	16.76%	46.29%	70.51%	62.38%	1.05%	70.95%	12.30%	37.79%	-33.10%	-2.76%

Correlation

The correlation between AEHR and MLI is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.28
Correlation (All Time) Calculated using the full available price history since Aug 15, 1997	0.17

Over the past year, AEHR and MLI have become more correlated (0.42) than their long-term average of 0.17, meaning their price movements have been converging.

Fundamentals

EPS AEHR : -$0.38 MLI : $10.18
PS Ratio AEHR : 63.83 MLI : 2.54
Total Revenue (TTM) AEHR : $45.26M MLI : $4.37B
Gross Profit (TTM) AEHR : $13.90M MLI : $871.92M
EBITDA (TTM) AEHR : -$13.56M MLI : $1.03B

Return for Risk

AEHR vs. MLI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AEHR

AEHR Risk / Return Rank: 97
AEHR Sharpe Ratio Rank: 99
AEHR Sortino Ratio Rank: 96
AEHR Omega Ratio Rank: 94
AEHR Calmar Ratio Rank: 99
AEHR Martin Ratio Rank: 99

MLI

MLI Risk / Return Rank: 89
MLI Sharpe Ratio Rank: 93
MLI Sortino Ratio Rank: 89
MLI Omega Ratio Rank: 91
MLI Calmar Ratio Rank: 85
MLI Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AEHR vs. MLI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aehr Test Systems (AEHR) and Mueller Industries, Inc. (MLI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	AEHR	MLI	Difference
Sharpe ratio: Return per unit of total volatility	6.34	2.48	+3.86
Sortino ratio: Return per unit of downside risk	4.30	3.03	+1.27
Omega ratio: Gain probability vs. loss probability	1.50	1.44	+0.06
Calmar ratio: Return relative to maximum drawdown	17.73	3.33	+14.40
Martin ratio: Return relative to average drawdown	40.02	9.19	+30.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AEHR vs. MLI - Sharpe Ratio Comparison

The current AEHR Sharpe Ratio is 6.34, which is higher than the MLI Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of AEHR and MLI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AEHR	MLI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	6.34	2.48	+3.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	1.33	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.74	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.49	-0.41

Drawdowns

AEHR vs. MLI - Drawdown Comparison

The maximum AEHR drawdown since its inception was -97.98%, which is greater than MLI's maximum drawdown of -61.72%. Use the drawdown chart below to compare losses from any high point for AEHR and MLI.

Drawdown Indicators

	AEHR	MLI	Difference
Max Drawdown Largest peak-to-trough decline	-97.98%	-61.72%	-36.26%
Max Drawdown (1Y) Largest decline over 1 year	-42.31%	-22.33%	-19.98%
Max Drawdown (3Y) Largest decline over 3 years	-87.37%	-27.79%	-59.58%
Max Drawdown (5Y) Largest decline over 5 years	-87.37%	-27.79%	-59.58%
Max Drawdown (10Y) Largest decline over 10 years	-87.37%	-52.95%	-34.42%
Current Drawdown Current decline from peak	-18.01%	-5.12%	-12.89%
Average Drawdown Average peak-to-trough decline	-79.64%	-16.05%	-63.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.70%	8.07%	+10.63%

Volatility

AEHR vs. MLI - Volatility Comparison

Aehr Test Systems (AEHR) has a higher volatility of 41.80% compared to Mueller Industries, Inc. (MLI) at 9.97%. This indicates that AEHR's price experiences larger fluctuations and is considered to be riskier than MLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AEHR	MLI	Difference
Volatility (1M) Calculated over the trailing 1-month period	41.80%	9.97%	+31.83%
Volatility (6M) Calculated over the trailing 6-month period	87.81%	25.71%	+62.10%
Volatility (1Y) Calculated over the trailing 1-year period	118.61%	30.09%	+88.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	109.78%	33.03%	+76.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	93.87%	35.76%	+58.11%

Dividends

AEHR vs. MLI - Dividend Comparison

AEHR has not paid dividends to shareholders, while MLI's dividend yield for the trailing twelve months is around 0.90%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AEHR Aehr Test Systems	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MLI Mueller Industries, Inc.	0.90%	0.87%	1.01%	1.27%	1.69%	0.88%	1.14%	1.26%	1.71%	9.60%	0.94%	1.11%

Financials

AEHR vs. MLI - Profitability Comparison

The chart below illustrates the profitability comparison between Aehr Test Systems and Mueller Industries, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AEHR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Aehr Test Systems reported a gross profit of 3.37M and revenue of 10.31M. Therefore, the gross margin over that period was 32.7%.

MLI - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Mueller Industries, Inc. reported a gross profit of 0.00 and revenue of 1.19B. Therefore, the gross margin over that period was 0.0%.

AEHR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Aehr Test Systems reported an operating income of -4.23M and revenue of 10.31M, resulting in an operating margin of -41.0%.

MLI - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Mueller Industries, Inc. reported an operating income of 312.23M and revenue of 1.19B, resulting in an operating margin of 26.2%.

AEHR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Aehr Test Systems reported a net income of -3.20M and revenue of 10.31M, resulting in a net margin of -31.1%.

MLI - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Mueller Industries, Inc. reported a net income of 239.02M and revenue of 1.19B, resulting in a net margin of 20.0%.

Frequently Asked Questions

Can I hold both AEHR and MLI in my portfolio?

AEHR and MLI have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AEHR or MLI?

AEHR has higher volatility (41.80%) compared to MLI (9.97%). In terms of maximum drawdown, AEHR dropped -97.98% vs MLI's -61.72%.

Which has better risk-adjusted returns?

AEHR currently has the higher Sharpe Ratio (6.34 vs 2.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.