The investment Ryder Cup: US edges Europe across five key sectors in 2025

As the Ryder Cup heads to Bethpage Black, a transatlantic contest is already playing out on the stock market. From defence to energy, Europe and the US are trading sector wins, with some unexpected leaders emerging from both sides.

As Europe and America prepare to compete at Bethpage Black in this year’s Ryder Cup, the market scoreboard tells its own story about where the real action has been this year. 

Pitting the top performers across different sectors from either side of the Atlantic, the numbers reveal some clear winners and a few surprises that challenge conventional wisdom about transatlantic performance.

Below are five highlight US-European stock match-ups across different sectors over the calendar year.

Finance: UBS outscores JPMorgan
(USA 0 – 1 Europe)

UBS has delivered a commanding 35.5% total return against JPMorgan’s respectable 24.3% this year, marking a decisive European victory. The Swiss bank’s outperformance represents more than just cyclical recovery – it reflects the successful integration of Credit Suisse assets and the benefits of higher interest rates finally flowing through to European banking margins.

JPMorgan’s solid but unspectacular showing demonstrates that even the best-run US banks face headwinds when the easy money from rising rates starts to plateau. 

The key question for investors is whether this marks a sustainable shift or merely a catch-up trade. European banks certainly have more room to improve their returns on equity, but they also carry greater regulatory and economic risks.

Defence: Rheinmetall’s storming back nine
(USA 0 – 2 Europe)

The defence comparison delivers the most dramatic result: Rheinmetall’s extraordinary 225.6% return demolishes Lockheed Martin’s anaemic 1.2% gain. This isn’t just outperformance – it’s a complete redrawing of the sector landscape.

The Ukraine conflict has fundamentally altered European defence procurement, transforming companies like Rheinmetall from steady industrial plays into growth stories. Order books are filling as NATO members scramble to rebuild capabilities that were allowed to atrophy for decades.

Lockheed’s minimal gain reflects the reality that US defence spending, while substantial, follows predictable patterns. 

Technology: Palantir stiffs ASML
(USA 1 – 2 Europe)

Palantir’s 107.9% surge leaves ASML’s 14.8% gain looking pedestrian, highlighting the AI premium that continues to drive US tech valuations. Palantir has become the institutional favourite for artificial intelligence exposure, benefiting from accelerating adoption across both government and enterprise sectors.

ASML’s more modest performance reflects the cyclical nature of semiconductor equipment demand. While the company maintains its near-monopoly position in advanced chip-making tools, the immediate AI euphoria has passed it by in favour of more direct AI plays.

The divergence underscores how market narratives drive short-term performance, even when underlying business quality remains strong. 

Healthcare: Insulet’s superiority leave Roche reeling
(USA 2- 2 Europe)

Insulet’s 35.9% return against Roche’s 24.8% gain illustrates the innovation premium that US healthcare technology commands. Insulet’s diabetes management systems benefit from both growing disease prevalence and technological advancement – a compelling combination for growth investors.

Roche’s solid but unexceptional performance typifies European pharmaceutical giants: steady, reliable, but lacking the growth catalysts that excite investors. Both companies offer defensive characteristics during uncertain times, though Insulet’s technology focus provides superior growth optionality.

Energy: GE Vernova dwarfs Shell
(USA 3 – 2 Europe)

GE Vernova’s 84.9% return comprehensively outperforms Shell’s 19.7% gain, demonstrating how energy transition themes trump traditional oil and gas exposure. GE Vernova benefits from the reality that power grids require massive upgrades regardless of energy source – a multi-decade investment theme.

Shell’s respectable but limited upside reflects the mature nature of integrated oil businesses. While the company provides steady dividends and reasonable returns, it lacks the structural growth drivers powering infrastructure-focused peers.

Return %  up to 6th September 2025

Sector	Europe	USA
Finance	UBS (35.5%)	JPMorgan (23.3%)
Defence	Rheinmetall (225.6%)	Lockheed Martin (1.2%)
Technology	ASML (14.8%)	Palantir (107.9%)
Healthcare	Roche (24.8%)	Insulet (35.9%)
Energy	Shell (19.7%)	GE Vernova (84.9%)

Chris Beauchamp, Chief Market Analyst at IG: “In a battle of global stock markets to rival any Ryder Cup, the US pips Europe to the post when looking at some of the biggest names across key sectors this year. Some of these gaps simply reflect varied business models, while others are fundamental quality differences. 

“Any global investor needs to be able to discern the difference, and understand the role each stock has in a diversified portfolio. Just as in the game of golf, where the finest of margins decide outcomes, a company’s ability to perform against the trackers can make all the difference when it comes to returns in the long-run.”