Goldman Sachs just updated one of its stock baskets with its picks for the highest risk-adjusted returns.
The basket has outperformed the S&P 500 so far this year, gaining 3% year-to-date.
The S&P 500's overall risk-adjusted return has been lower than usual so far this year, strategists said.
It's been a volatile year for stock traders, but there are a handful of new winners in the S&P 500 that could be poised for big gains over the next 12 months, according to Goldman Sachs.
In a note to clients on Friday, the bank said it updated its Sharpe Ratio basket, a list of 50 stocks with the highest expected risk-adjusted returns. So far, the basket has gained 3% year-to-date, edging past the S&P 500's 1.7% gain.
The S&P 500's overall risk-adjusted return has been "lower than usual" so far in 2025, the strategists said, pointing to increased volatility and lower-than-average returns stemming from fears around tariffs.
The bank rebalanced its portfolio by choosing stocks with a high prospective Sharpe Ratio, a gauge for risk-adjusted returns calculated by dividing a percentage return to a stock's consensus 12-month price target by its six-month option-implied volatility.
"Currently, the median S&P 500 stock is expected to post an 11% return to its 12-month consensus price target with a 6-month implied volatility of 28, yielding a prospective risk-adjusted return of 0.4," the bank wrote.
Here are the top 10 newest additions to Goldman's Sharpe basket.
Security experts have fretted about the president's decision to keep using his personal device.
Photos show the evolution of his cellphone, from a flip phone to an Android phone and, finally, an iPhone.
President Donald Trump is just a phone call away. The device he uses to pick up, though, has changed over the years.
Today, many of the CEOs, celebrities, lawmakers, and journalists trying to reach him don't need the White House switchboard. They simply call his iPhone.
Unlike any of his modern predecessors, Trump has maintained an unheard-of level of accessibility by maintaining his personal device. (According to The Atlantic, past advisors have tried to warn Trump that his habit leaves him vulnerable to hacking.)
It's unclear what modifications have been made to Trump's phone to address these worries. What is apparent is that Trump is rarely found without his device, though perhaps he'll switch it out for a Trump-branded smartphone when it launches.
Trump demonstrated this himself during a May event in the Oval Office. As he was signing executive orders, Trump's iPhone blared the "Reflection" ringtone. He looked down.
"It's only a congressman," Trump said.
Scroll on for a look at the evolution of Trump's cellphone over the years.
Trump once had a flip-phone era.
Donald Trump talks on his cell phone during a visit to Colorado in 2005 to speak at a business convention.
Cyrus McCrimmon/The Denver Post via Getty Images)
Like most of us, Trump once had to live in the pre-smartphone era. The limitations of technology didn't change his outlook.
In his 2004 book, "Trump: Think Like a Billionaire," the future president said he liked phone calls because it was easier to get rid of people.
"The phone is easier because you can simply hang up."
Trump's phone is often in the picture even when it's not in use.
Trump speaks to reporters in his Trump Tower office
Mary Altaffer/AP
Trump wasn't an immediate Apple convert. While seeking the presidency ahead of the 2016 election, he often used both Android and Apple devices.
In 2015, The New York Times photographed Trump using a Samsung phone while showing off his Twitter feed.
His phone was never far from him on the campaign trail.
Trump talks on the phone while campaigning in South Carolina during the 2016 GOP primaries
Jabin Botsford/The Washington Post via Getty Images
During the 2016 GOP primaries, Trump had to take down a number of more experienced challengers. Here he is seen speaking during a lunch ahead of the 2016 South Carolina Republican primary, a contest he would win.
After winning the election, Trump didn't part with his smartphone.
Trump makes a call aboard Air Force One.
White House
President Obama stood out from other recent presidents in insisting on keeping his cellphone — a BlackBerry — after taking office. But, unlike Trump, Obama could not receive incoming calls.
Trump was no immediate Apple convert, but at some point, he began to make the switch. Dan Scavino, a former caddy who has become one of Trump's most-trusted aides, wrote in 2017 that Trump was beginning to use an iPhone.
.@POTUS@realDonaldTrump has been using his new iPhone📱for the past couple of weeks here on Twitter. Yes, it is #POTUS45 reading & tweeting!
More than two years later, in October 2019, Trump made his feelings about Apple's decision to ditch the physical home button known, in a tweet addressed to CEO Tim Cook.
To Tim: The Button on the IPhone was FAR better than the Swipe!
Trump occasionally takes out his phone during meetings.
Trump looks down at his phone during a 2020 roundtable meeting at the White House
Alex Wong/Getty Images
Trump is seen here looking down at his phone during a June 2020 roundtable discussion with Governors and small business owners focused on reopening businesses during the COVID-19 pandemic.
Away from work, Trump remains reachable.
Trump makes a call while golfing at his Virginia club in 2020
Tasos Katopodis/Getty Images
Trump pauses to look at his phone while playing a round of golf in November 2020.
Out of the White House, Trump hung on to his iPhone.
In this photo, then-former White House advisor Stephen Miller visited Trump at his office in Florida in 2021. On the right side of Trump, right next to a traditional landline, is the former president's smartphone.
Occasionally, photographers snap a close-up, revealing he upgraded to a newer iPhone model.
Trump is seen looking at texts on his way to his second inauguration
Alex Brandon/AP
On January 20, 2025, Trump was preparing to be sworn in for his second term. On the way to the US Capitol, an Associated Press photographer caught the then-president-elect glancing at his iPhone.
The photo shows that Trump is using a newer model, since Apple first introduced the "Dynamic Island" cutout at the top of the screen, instead of the "notch" on earlier models, with the iPhone 14 Pro.
Trump's phone shows an Apple News notification discussing Inauguration Day, a congratulatory text from an unknown number, and a missed called from Boris Epshteyn, a longtime Trump advisor.
Trump takes his iPhone everywhere.
Trump holds his phone as he arrives at Joint Base Andrews
Julia Demaree Nikhinson/File/AP
Trump is seen returning to Joint Base Andrews after returning from a speech at a US Steel plant in West Mifflin, Pennsylvania.
In transit, Trump can often be seen on his phone
Trump talks on the phone while he arrives at his West Palm Beach golf club
Alex Brandon/AP
According to The Atlantic, those wishing to talk to Trump often try to time their calls so as to reach the president when he is riding in the motorcade or leaving the Oval Office.
Not everyone has great timing.
Trump silences his phone during an executive order signing ceremony
Evan Vucci/AP
Trump joked to reporters during a May executive order signing after his iPhone went off twice due to calls from two different congressmen.
Trump has a customized lockscreen.
Trump's lockscreen can be seen as he holds his iPhone
Leah Millis/Reuters
In a picture captured by an eagle-eyed Reuters photographer, Trump's iPhone lockscreen can be seen featuring an image of himself.
Chick-fil-A and KFC's chicken tenders were similar in their breaded texture.
Raising Cane's impressed me with its crispy-yet-juicy tenders and delicious signature sauce.
Some fast-food chains have built their entire businesses on chicken tenders.
Todd Graves, for example, turned his idea for a chicken-finger restaurant into a billion-dollar company: Raising Cane's. Graves is now the richest person in Louisiana, with an estimated net worth of $17.2 billion, and Cane's is growing rapidly, with more than 900 restaurants in the US and internationally and billions in annual sales, Forbes reported.
McDonald's launched its new McCrispy Strips on May 5. This marks the first time chicken strips have been on the menu since the pandemic.
Taco Bell is also experimenting with crispy chicken following the launch of its limited-time-only crispy chicken nuggets.
On June 17, the chain introduced its own chicken strips. These are available on their own or as part of a taco or burrito and feature the same tortilla-chip breading as the nuggets.
"Strips are familiar, super snackable, and a perfect sauce vessel! That makes them really fun to play with from a menu perspective. But we didn't want to do the same old thing. At Taco Bell, we saw a chance to take that crispy chicken experience and make it our own," Taco Bell's chief marketing officer, Taylor Montgomery, told Business Insider.
Chicken is a huge area of opportunity for the brand. Montgomery told BI that 35% of all Taco Bell orders now include chicken as the protein of choice.
"In true Taco Bell fashion, we didn't stop at strips. We wrapped them in tacos and burritos, because that's what we do best," he said. "These aren't snack-sized one-offs. They're full-sized and exactly what fans expect from Taco Bell."
I compared chicken tenders from 13 fast-food chains from across the country to see which were the best.
Here's how the tenders ranked, from worst to best, based on taste and value.
Of all the chicken tenders I tried, the ones from Whataburger didn't completely wow me.
The Whataburger chicken tenders came in last for me.
The chicken tenders were large and perfectly fried.
I paired the Whataburger chicken tender with ranch sauce.
Erin McDowell/Business Insider
I thought the tenders could only be described as "classic" — they weren't anything out-of-the-box, but I enjoyed them.
The meat inside was juicy, but I thought the fried coating could have had a bit more crunch.
The Whataburger chicken tender could have been crunchier.
Erin McDowell/Business Insider
The chicken tenders tasted good on their own, as well as with ranch dipping sauce. They weren't bad by any stretch of the imagination. However, I did think the other tenders I tried were slightly crispier and had just the slightest hint of more flavor in the batter.
Regardless, for a relatively low price, I'd definitely order these again.
I also ordered chicken tenders from Cook Out, a regional chain I visited in South Carolina.
The Cook Out chicken tenders were the cheapest I tried.
Erin McDowell/Business Insider
The three-piece "snack" cost $4.99, not including tax.
The chicken tenders were crispy on the outside.
The Cook Out chicken tenders had a really crispy coating.
Erin McDowell/Business Insider
They were also a good size. I thought the price was also a great deal for the generous portion I received.
However, there wasn't an abundance of chicken meat inside.
However, I didn't think there was enough meat inside.
Erin McDowell/Business Insider
These were undeniably classic chicken tenders, similar to the ones from Whataburger, but they were a touch too fried for my liking. However, I thought they were well-seasoned and had a lot of peppery flavor.
Smashburger's chicken tenders were just slightly too fried for my liking.
Smashburger's chicken tenders were super crunchy.
Erin McDowell/Business Insider
An order of three chicken tenders from Smashburger costs $9.99, excluding tax and fees. I thought this was a little pricey.
The chicken tenders were heavily fried and bigger than other ones I tried.
The breading was on the thicker side.
Erin McDowell/Business Insider
The breading on the chicken tenders felt thick and crunchy.
The chicken tenders, overall, tasted dry, even when paired with sauce.
The chicken tenders tasted dry.
Erin McDowell/Business Insider
The chicken meat inside and the ranch dipping sauce provided could only do so much to offset the intense dryness of the crunchy breading.
The next time I order from Smashburger, I'll stick to the chain's beef offerings.
Next up were the crispy chicken tenders from Sonic Drive-In.
The Sonic chicken tenders came in orders of three or five pieces.
Erin McDowell/Business Insider
A five-piece order of chicken tenders cost $8.41, excluding tax.
The chicken tenders were evenly fried but on the thinner side.
The chicken tenders were flatter than some of the others I tried.
Erin McDowell/Business Insider
Rather than thick and juicy like some of the other chicken tenders I tried, these were flatter. In fact, I'd say these were the thinnest and flattest tenders out of all the ones I tried.
I enjoyed the flavor of the seasoning, but there was a lot to be desired when it came to texture.
The chicken tenders lacked juiciness.
Erin McDowell/Business Insider
The chicken was on the drier side, and there simply wasn't a lot of it. I gravitate toward thicker, more shreddable chicken tenders, and these slightly missed the mark for me.
However, the flavor was definitely there — the breading had a peppery essence and the tenders were evenly fried.
My ninth favorite chicken tenders came from Popeyes.
Popeyes sells its chicken tenders in a box combo with fries and a biscuit.
Erin McDowell/Business Insider
A three-piece tender combo costs $16.89 before taxes and fees. The meal deal included a large serving of fries, a drink, and a biscuit, as well as a choice of dipping sauces.
The chicken tenders from Popeyes were crispy, flaky, and crunchy.
These were the crispiest chicken tenders I tried.
Erin McDowell/Business Insider
I really liked the crunchy exterior.
The meat inside was flaky and moist as well.
I liked the flavor of these chicken tenders.
Erin McDowell/Business Insider
I also thought the batter was quite flavorful — I could taste hints of seasoning and buttermilk, although they weren't quite as buttery-tasting as the Chick-fil-A tenders.
However, this meal felt expensive for only three chicken tenders, even though they were large.
I thought the chicken tenders from Bojangles were flavorful and super crispy.
Bojangles sells a four-piece chicken tenders meal with fries and a biscuit.
Erin McDowell/Business Insider
A four-piece chicken tenders combo, including fries, a medium drink, and a biscuit, cost me $12.97, excluding taxes and fees.
I thought the chicken tenders were a good size.
The Bojangles chicken tenders had a thick breading on the outside.
Erin McDowell/Business Insider
The texture and flavor of the breading made them taste like a cross between the chicken tenders from Chick-fil-A and Cook Out.
The breading was peppery, just the right thickness, and perfectly encased the juicy white chicken meat inside.
The Bojangles chicken tenders also had a lot of meat inside.
Erin McDowell/Business Insider
I also thought the price was fair considering how much food I received. The chicken tenders paired perfectly with honey mustard but were also tasty on their own.
I would definitely order these again.
KFC's original recipe chicken tenders really impressed me with their taste and value.
The KFC chicken tenders came in a combo with fries and a drink.
Erin McDowell/Business Insider
I ordered a four-piece tender meal for $13.04, excluding taxes and fees, in Brooklyn, New York. I thought this was excellent value for the amount of food I received.
The tenders were well-breaded on the outside, though the breading wasn't as crispy or crunchy as others I tried.
The KFC chicken tenders paired well with the sauces I tried.
Erin McDowell/Business Insider
The breading stuck closely to the chicken tenders, rather than having a thick or crunchy texture.
However, the chicken tenders paired well with the chain's honey mustard and new comeback sauce. The breading had a tasty, very peppery flavor to it that was unique compared to the other chicken tenders I tried.
The chicken tenders were flavorful and contained an impressive amount of white meat chicken.
The meat was juicy, though the breading could have been crunchier.
Erin McDowell/Business Insider
However, the slightly less crispy texture of the breading meant they didn't come out on top when compared to the last six chains I tried.
McDonald's just launched its new McCrispy Strips.
McDonald's launched a new version of its chicken strips.
Erin McDowell/Business Insider
At my local McDonald's in Brooklyn, New York, three McCrispy chicken strips cost $8.29, excluding tax and fees.
The chicken strips were large and evenly coated in breading.
The chicken strips were about the length of my hand.
Chicken tenders haven't been on the menu since, despite fans' pleas to bring them back.
The breading was relatively thin, but very crispy.
The chicken strips were crispy yet juicy.
Erin McDowell/Business Insider
Unlike some flakier chicken tenders, each bite was evenly coated in well-seasoned, peppery breading. Inside, the chicken meat was thick and juicy.
Paired with the chain's creamy chili sauce, which was specifically created to go with the chicken strips, these packed a decent amount of flavor. However, on their own, I thought they were just a touch blander than some of the higher-ranked tenders I tried.
Taco Bell also recently released chicken strips after bringing out nuggets last year.
Taco Bell's chicken strips feature the same tortilla-chip breading as the chain's nuggets.
Erin McDowell/Business Insider
Taco Bell's new chicken strips are available as part of three different kinds of tacos and burritos, or on their own with dipping sauce. An order of two chicken strips cost $5.48, excluding tax and fees.
The chicken strips were thick, juicy, and the ideal level of crispy.
The chicken tenders came in an order of two.
Erin McDowell/Business Insider
The chicken strips are marinated in zesty jalapeño buttermilk and breaded with crispy tortilla chips and breadcrumbs, which is the same formula as the chain's chicken nuggets, which I ranked as my favorite across six chains.
The chicken strips packed a lot of flavor.
Taco Bell's new chicken strips impressed me.
Erin McDowell/Business Insider
The breading was super flavorful and I definitely got the hints of tortilla chip. The chicken inside was also moist and juicy, while the breading remained crispy.
My only real complaint was that I wanted more than two.
I'm hoping that if they prove popular among fans, the chain could offer them as a three-piece or four-piece in the future.
Chick-fil-A's chicken tenders were perfectly crispy and juicy.
Chick-fil-A's chicken tenders are a classic for a reason.
Erin McDowell/Business Insider
When it's not included in a meal deal, a three-piece chicken tender costs $9.69 at my nearest location in New York City. For a meal, the price bumps up to $17.35, excluding tax and fees.
Some of the chicken pieces looked slightly darker and more fried than others.
The breading was really crispy.
Erin McDowell/Business Insider
Small bits of fried breading were scattered on the outside, which I always love with chicken tenders.
The chicken tenders were nicely fried but still juicy on the inside.
The tenders had a slightly briny flavor.
Erin McDowell/Business Insider
When I dipped them in the chain's signature Chick-fil-A sauce, the experience was mouthwatering.
The chicken tenders were also great on their own, with the perfect balance of crispy breading and a delicious, briny flavor. The sauce just took them over the edge.
Wingstop's chicken tenders came in third place.
Wingstop recently launched a new recipe for its chicken tenders.
Erin McDowell/Business Insider
Wingstop recently revamped its chicken tenders, and I was excited to try them out.
The chain sells its chicken in various flavors, from original hot to hickory-smoked barbecue and mango habanero. However, I ordered these chicken tenders plain.
I ordered a five-piece chicken tender combo at my local Wingstop in Brooklyn, New York. It cost $14.99 and came with a drink, dipping sauce, and a regular side of fries.
The chain also sells four chicken tenders, which come with one dipping sauce, for $10.39, plus tax and fees.
The chicken tenders were large and well-breaded.
The chicken tenders were larger than some of the other chains' tenders.
Erin McDowell/Business Insider
The chicken tenders were deep golden in color and evenly fried, with small clumps of fried breading adding even more texture to every bite.
These tenders were filled with real chicken.
Wingstop's chicken tenders paired well with the chain's ranch and honey mustard.
Erin McDowell/Business Insider
The chicken tender easily tore apart with every bite, which is something I look for. The breading itself was slightly peppery, but not overly flavorful. They paired well with Wingstop's signature ranch — my favorite of any fast-food ranch — and the chain's honey mustard.
Wingstop delivered great classic tenders, though the breading didn't pack as much flavor as the top two chains I tried. Nevertheless, I'd definitely order these again.
My second favorite chicken tenders came from Zaxby's.
The Zaxby's chicken tenders meal came with coleslaw, toast, and fries.
Erin McDowell/Business Insider
A five-piece chicken tenders combo came with fries, a small drink, coleslaw, and a piece of Texas toast. I also asked for a side of honey mustard and Zaxby's famous Zax sauce. My meal cost $14.77, excluding taxes and fees.
The breading of the chicken tenders was similar to Chick-fil-A's in consistency, flavor, and texture, but I thought these ones had more meat.
Zaxby's chicken tenders had a slight sweetness to them.
Erin McDowell/Business Insider
The breading was crispy and flavorful, with a slight sweetness.
The chicken tenders held their own without sauce but were really taken to the next level when dipped in the tangy Zax sauce.
The Zaxby's chicken tender had a lot of juicy white meat inside.
Erin McDowell/Business Insider
Zax sauce tastes similar to the Cane's sauce I tried from Raising Cane's, but I found it to be just ever-so-slightly less flavorful, and creamy. I also thought it didn't have the same kick.
However, the chicken tenders really impressed me. They were a good size, extremely flavorful, and addictingly delicious. I found myself craving even more than the five chicken tenders I was given, which is rare for me.
In the end, it was a really tough call on whether I preferred Zaxby's or Raising Cane's chicken tenders.
But my favorite chicken tenders came from Raising Cane's.
Raising Cane's blew me away with their box of chicken tenders, fries, toast, and sauces.
Erin McDowell/Business Insider
My six-piece meal cost $16.59, including tax, but a three-finger combo that includes three chicken fingers, fries, Cane's sauce, Texas toast, and a regular drink costs $9.59, excluding tax and any additions or swaps.
The chicken tenders were super crispy.
The Raising Cane's chicken tenders were the perfect balance of moist meat and crispy breading.
Erin McDowell/Business Insider
The chicken tenders were also thick. After biting in, I could actually see the strips of white chicken underneath, which, in my experience, you don't always find with fast-food chicken tenders.
The chicken tenders were crispy and juicy on the inside — I had to give them the win.
The Raising Cane's chicken tenders were my favorite of the ones I tried.
Erin McDowell/Business Insider
I tried the tenders on their own and with the Cane's sauce. On their own, the tenders were simply everything one could ask for: thick, juicy, and crispy on the outside.
However, the chain is famous for its chicken-complementing sauce, and after biting in, I could definitely see why. It had a slight kick to it, and it was creamy and surprisingly tangy. It paired perfectly with the chicken and was unlike any other sauce I've ever tried.
In the end, Raising Cane's took home the win for me with the chain's near-perfect chicken tenders and fair prices.