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Two structures frequently encountered in modern day microwave subsystems are multichip modules (MCMs) and highly integrated monolithic microwave integrated circuits (MMICs). As these circuits become denser and more compact, electromagnetic simulation must be used to accurately predict the interaction between elements. In this report, we evaluate a number of commercially available electromagnetic simulation tools appropriate for the needs of an MCM or an MMIC designer. We start by offering a qualitative comparison of twelve simulators against our performance criteria, developed to address key issues important to electromagnetic simulation. Next, we report on two benchmarking studies which compared the performance of a number of different simulation tools. Finally, we present our conclusions regarding the choice of a particular simulation tool to best fit the needs of the designer.