NTAP vs. ANET

Last updated Jun 4, 2026

NTAP (NetApp, Inc.) and ANET (Arista Networks, Inc.) are both stocks. Both operate in the Computer Hardware industry within the Technology sector. Over the past 10 years, NTAP returned 25.02%/yr vs 43.55%/yr for ANET. At a 0.46 correlation, their price movements are largely independent.

Performance

NTAP vs. ANET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NetApp, Inc. (NTAP) and Arista Networks, Inc. (ANET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NTAP achieves a 70.79% return, which is significantly higher than ANET's 33.08% return. Over the past 10 years, NTAP has underperformed ANET with an annualized return of 25.02%, while ANET has yielded a comparatively higher 43.55% annualized return.

NTAP

• 1D: 3.10%
• 1M: 63.22%
• YTD: 70.79%
• 6M: 59.51%
• 1Y: 78.07%
• 3Y*: 39.50%
• 5Y*: 20.31%
• 10Y*: 25.02%

ANET

• 1D: -0.55%
• 1M: 1.01%
• YTD: 33.08%
• 6M: 36.44%
• 1Y: 84.52%
• 3Y*: 62.51%
• 5Y*: 51.43%
• 10Y*: 43.55%

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

NTAP vs. ANET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NTAP NetApp, Inc.	70.79%	-5.87%	34.16%	51.15%	-32.92%	42.47%	10.94%	7.43%	9.67%	59.94%
ANET Arista Networks, Inc.	33.08%	18.55%	87.73%	94.07%	-15.58%	97.89%	42.86%	-3.46%	-10.56%	143.44%

Correlation

The correlation between NTAP and ANET is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jun 9, 2014	0.46

The correlation between NTAP and ANET shifts across timeframes, from 0.32 (1 year) to 0.50 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap NTAP : $36.03B ANET : $222.11B
EPS NTAP : $6.35 ANET : $2.92
PE Ratio NTAP : 28.52 ANET : 59.73
PEG Ratio NTAP : 2.14 ANET : 1.40
PS Ratio NTAP : 5.26 ANET : 22.88
PB Ratio NTAP : 26.67 ANET : 16.47
Total Revenue (TTM) NTAP : $6.93B ANET : $9.71B
Gross Profit (TTM) NTAP : $4.90B ANET : $6.17B
EBITDA (TTM) NTAP : $1.89B ANET : $4.21B

Return for Risk

NTAP vs. ANET — Risk / Return Rank

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

NTAP

NTAP Risk / Return Rank: 85
NTAP Sharpe Ratio Rank: 87
NTAP Sortino Ratio Rank: 88
NTAP Omega Ratio Rank: 87
NTAP Calmar Ratio Rank: 83
NTAP Martin Ratio Rank: 80

ANET

ANET Risk / Return Rank: 79
ANET Sharpe Ratio Rank: 83
ANET Sortino Ratio Rank: 77
ANET Omega Ratio Rank: 76
ANET Calmar Ratio Rank: 82
ANET Martin Ratio Rank: 79

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.

NTAP vs. ANET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NetApp, Inc. (NTAP) and Arista Networks, Inc. (ANET). 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.

	NTAP	ANET	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.61	+0.36
Sortino ratio: Return per unit of downside risk	3.09	2.17	+0.92
Omega ratio: Gain probability vs. loss probability	1.39	1.28	+0.11
Calmar ratio: Return relative to maximum drawdown	3.16	3.00	+0.16
Martin ratio: Return relative to average drawdown	6.56	6.29	+0.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NTAP vs. ANET - Sharpe Ratio Comparison

The current NTAP Sharpe Ratio is 1.98, which is comparable to the ANET Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of NTAP and ANET, 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

	NTAP	ANET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	1.61	+0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	1.10	-0.49
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.97	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.86	-0.52

Drawdowns

NTAP vs. ANET - Drawdown Comparison

The maximum NTAP drawdown since its inception was -96.21%, which is greater than ANET's maximum drawdown of -52.20%. Use the drawdown chart below to compare losses from any high point for NTAP and ANET.

Drawdown Indicators

	NTAP	ANET	Difference
Max Drawdown Largest peak-to-trough decline	-96.21%	-52.20%	-44.01%
Max Drawdown (1Y) Largest decline over 1 year	-24.83%	-28.33%	+3.50%
Max Drawdown (3Y) Largest decline over 3 years	-42.61%	-50.42%	+7.81%
Max Drawdown (5Y) Largest decline over 5 years	-42.61%	-50.42%	+7.81%
Max Drawdown (10Y) Largest decline over 10 years	-58.08%	-52.20%	-5.88%
Current Drawdown Current decline from peak	0.00%	-1.89%	+1.89%
Average Drawdown Average peak-to-trough decline	-57.12%	-15.41%	-41.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.93%	13.47%	-1.54%

Volatility

NTAP vs. ANET - Volatility Comparison

NetApp, Inc. (NTAP) has a higher volatility of 23.39% compared to Arista Networks, Inc. (ANET) at 21.10%. This indicates that NTAP's price experiences larger fluctuations and is considered to be riskier than ANET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NTAP	ANET	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.39%	21.10%	+2.29%
Volatility (6M) Calculated over the trailing 6-month period	33.61%	39.36%	-5.75%
Volatility (1Y) Calculated over the trailing 1-year period	40.00%	52.87%	-12.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.74%	47.04%	-13.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.87%	44.89%	-9.02%

Dividends

NTAP vs. ANET - Dividend Comparison

NTAP's dividend yield for the trailing twelve months is around 1.15%, while ANET has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANET Arista Networks, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NTAP NetApp, Inc.	1.15%	1.94%	1.76%	2.27%	3.33%	2.13%	2.90%	2.83%	2.01%	1.41%	2.10%	2.60%

Financials

NTAP vs. ANET - Profitability Comparison

The chart below illustrates the profitability comparison between NetApp, Inc. and Arista Networks, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

NTAP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, NetApp, Inc. reported a gross profit of 1.37B and revenue of 1.95B. Therefore, the gross margin over that period was 70.1%.

ANET - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Arista Networks, Inc. reported a gross profit of 1.68B and revenue of 2.71B. Therefore, the gross margin over that period was 61.9%.

NTAP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, NetApp, Inc. reported an operating income of 535.00M and revenue of 1.95B, resulting in an operating margin of 27.5%.

ANET - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Arista Networks, Inc. reported an operating income of 1.16B and revenue of 2.71B, resulting in an operating margin of 42.7%.

NTAP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, NetApp, Inc. reported a net income of 404.00M and revenue of 1.95B, resulting in a net margin of 20.7%.

ANET - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Arista Networks, Inc. reported a net income of 1.02B and revenue of 2.71B, resulting in a net margin of 37.8%.

Frequently Asked Questions

Can I hold both NTAP and ANET in my portfolio?

NTAP and ANET have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NTAP or ANET?

NTAP has higher volatility (23.39%) compared to ANET (21.10%). In terms of maximum drawdown, NTAP dropped -96.21% vs ANET's -52.20%.

Which has better risk-adjusted returns?

NTAP currently has the higher Sharpe Ratio (1.98 vs 1.61), 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.