There's an old saying that a rising tide lifts all ships. Ironically enough, the adage doesn't apply to cruise line stocks . Norwegian Cruise Line ( NCLH +1.47% ) is once again the worst-performing investment in the industry, trading 27% lower in 2025. At the other end of the performance spectrum you have Viking Holdings ( VIK +1.00% ) . The leading river cruise operator has risen 54% this year.

Royal Caribbean ( RCL +2.60% ) and Carnival ( CCL +2.14% ) -- the country's most valuable cruise line operator and the largest, respectively -- are splitting the difference. They are clocking in with modest single-digit gains this year.

The disparity is wide between NCL and Viking. It's even a sizable distance of water between NCL and its two larger mainstream ri

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