EW vs. DHR

Last updated Jun 4, 2026

EW (Edwards Lifesciences Corporation) and DHR (Danaher Corporation) are both stocks. Both are in the Healthcare sector — EW in Medical Devices, DHR in Diagnostics & Research. Over the past 10 years, EW returned 9.77%/yr vs 10.97%/yr for DHR. At a 0.35 correlation, their price movements are largely independent.

Performance

EW vs. DHR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Edwards Lifesciences Corporation (EW) and Danaher Corporation (DHR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EW achieves a 0.88% return, which is significantly higher than DHR's -22.04% return. Over the past 10 years, EW has underperformed DHR with an annualized return of 9.77%, while DHR has yielded a comparatively higher 10.97% annualized return.

EW

• 1D: -1.89%
• 1M: 3.20%
• YTD: 0.88%
• 6M: 2.41%
• 1Y: 10.65%
• 3Y*: 0.26%
• 5Y*: -2.15%
• 10Y*: 9.77%

DHR

• 1D: 1.12%
• 1M: 2.32%
• YTD: -22.04%
• 6M: -21.78%
• 1Y: -6.64%
• 3Y*: -4.53%
• 5Y*: -3.23%
• 10Y*: 10.97%

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

EW vs. DHR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EW Edwards Lifesciences Corporation	0.88%	15.16%	-2.91%	2.20%	-42.41%	42.00%	17.32%	52.31%	35.90%	20.29%
DHR Danaher Corporation	-22.04%	0.35%	-0.35%	-1.22%	-19.02%	48.57%	45.34%	49.55%	11.80%	20.01%

Correlation

The correlation between EW and DHR is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Mar 28, 2000	0.35

The correlation between EW and DHR shifts across timeframes, from 0.23 (1 year) to 0.45 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap EW : $49.94B DHR : $126.65B
EPS EW : $1.87 DHR : $5.17
PE Ratio EW : 45.96 DHR : 34.46
PS Ratio EW : 7.97 DHR : 5.13
PB Ratio EW : 4.84 DHR : 2.39
Total Revenue (TTM) EW : $6.30B DHR : $24.78B
Gross Profit (TTM) EW : $4.92B DHR : $15.04B
EBITDA (TTM) EW : $1.44B DHR : $6.69B

Return for Risk

EW vs. DHR — Risk / Return Rank

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

EW

EW Risk / Return Rank: 54
EW Sharpe Ratio Rank: 56
EW Sortino Ratio Rank: 50
EW Omega Ratio Rank: 47
EW Calmar Ratio Rank: 58
EW Martin Ratio Rank: 60

DHR

DHR Risk / Return Rank: 30
DHR Sharpe Ratio Rank: 30
DHR Sortino Ratio Rank: 26
DHR Omega Ratio Rank: 27
DHR Calmar Ratio Rank: 33
DHR Martin Ratio Rank: 31

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.

EW vs. DHR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Edwards Lifesciences Corporation (EW) and Danaher Corporation (DHR). 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.

	EW	DHR	Difference
Sharpe ratio Return per unit of total volatility	0.45	-0.24	+0.69
Sortino ratio Return per unit of downside risk	0.85	-0.16	+1.01
Omega ratio Gain probability vs. loss probability	1.10	0.98	+0.11
Calmar ratio Return relative to maximum drawdown	0.84	-0.20	+1.04
Martin ratio Return relative to average drawdown	2.06	-0.50	+2.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EW vs. DHR - Sharpe Ratio Comparison

The current EW Sharpe Ratio is 0.45, which is higher than the DHR Sharpe Ratio of -0.24. The chart below compares the historical Sharpe Ratios of EW and DHR, 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

	EW	DHR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.45	-0.24	+0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	-0.12	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	0.43	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.64	-0.13

Drawdowns

EW vs. DHR - Drawdown Comparison

The maximum EW drawdown since its inception was -54.32%, which is greater than DHR's maximum drawdown of -45.80%. Use the drawdown chart below to compare losses from any high point for EW and DHR.

Drawdown Indicators

	EW	DHR	Difference
Max Drawdown Largest peak-to-trough decline	-54.32%	-45.80%	-8.52%
Max Drawdown (1Y) Largest decline over 1 year	-12.73%	-32.97%	+20.24%
Max Drawdown (3Y) Largest decline over 3 years	-37.53%	-41.72%	+4.19%
Max Drawdown (5Y) Largest decline over 5 years	-54.32%	-43.81%	-10.51%
Max Drawdown (10Y) Largest decline over 10 years	-54.32%	-43.81%	-10.51%
Current Drawdown Current decline from peak	-34.19%	-38.20%	+4.01%
Average Drawdown Average peak-to-trough decline	-14.46%	-10.21%	-4.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.18%	13.26%	-8.08%

Volatility

EW vs. DHR - Volatility Comparison

Edwards Lifesciences Corporation (EW) has a higher volatility of 8.29% compared to Danaher Corporation (DHR) at 7.84%. This indicates that EW's price experiences larger fluctuations and is considered to be riskier than DHR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EW	DHR	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.29%	7.84%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	18.71%	18.84%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	23.92%	27.70%	-3.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.61%	27.92%	+4.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.24%	25.48%	+6.76%

Dividends

EW vs. DHR - Dividend Comparison

EW has not paid dividends to shareholders, while DHR's dividend yield for the trailing twelve months is around 0.76%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHR Danaher Corporation	0.76%	0.56%	0.47%	12.64%	0.38%	0.26%	0.32%	0.44%	0.62%	0.60%	32.55%	0.58%
EW Edwards Lifesciences Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

EW vs. DHR - Profitability Comparison

The chart below illustrates the profitability comparison between Edwards Lifesciences Corporation and Danaher Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

EW - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Edwards Lifesciences Corporation reported a gross profit of 1.29B and revenue of 1.65B. Therefore, the gross margin over that period was 78.2%.

DHR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Danaher Corporation reported a gross profit of 3.59B and revenue of 5.95B. Therefore, the gross margin over that period was 60.3%.

EW - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Edwards Lifesciences Corporation reported an operating income of 514.70M and revenue of 1.65B, resulting in an operating margin of 31.2%.

DHR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Danaher Corporation reported an operating income of 1.34B and revenue of 5.95B, resulting in an operating margin of 22.6%.

EW - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Edwards Lifesciences Corporation reported a net income of 380.70M and revenue of 1.65B, resulting in a net margin of 23.1%.

DHR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Danaher Corporation reported a net income of 1.03B and revenue of 5.95B, resulting in a net margin of 17.3%.

Frequently Asked Questions

Can I hold both EW and DHR in my portfolio?

EW and DHR have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EW or DHR?

EW has higher volatility (8.29%) compared to DHR (7.84%). In terms of maximum drawdown, EW dropped -54.32% vs DHR's -45.80%.

Which has better risk-adjusted returns?

EW currently has the higher Sharpe Ratio (0.45 vs -0.24), 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.