AXON vs. ASML

Last updated Jun 4, 2026

AXON (Axon Enterprise, Inc.) and ASML (ASML Holding N.V.) are both stocks. AXON operates in Aerospace & Defense (Industrials), while ASML operates in Semiconductor Equipment & Materials (Technology). Over the past 10 years, AXON returned 35.69%/yr vs 34.11%/yr for ASML. At a 0.32 correlation, their price movements are largely independent.

Performance

AXON vs. ASML - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Axon Enterprise, Inc. (AXON) and ASML Holding N.V. (ASML). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AXON achieves a -15.22% return, which is significantly lower than ASML's 61.93% return. Both investments have delivered pretty close results over the past 10 years, with AXON having a 35.69% annualized return and ASML not far behind at 34.11%.

AXON

• 1D: -1.76%
• 1M: 22.28%
• YTD: -15.22%
• 6M: -11.42%
• 1Y: -36.57%
• 3Y*: 35.57%
• 5Y*: 27.81%
• 10Y*: 35.69%

ASML

• 1D: 1.23%
• 1M: 24.54%
• YTD: 61.93%
• 6M: 51.85%
• 1Y: 132.84%
• 3Y*: 34.91%
• 5Y*: 21.59%
• 10Y*: 34.11%

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

AXON vs. ASML - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AXON Axon Enterprise, Inc.	-15.22%	-4.44%	130.06%	55.69%	5.69%	28.13%	67.21%	67.50%	65.09%	9.32%
ASML ASML Holding N.V.	61.93%	56.51%	-7.70%	39.91%	-30.49%	64.13%	66.06%	93.56%	-9.80%	56.23%

Correlation

The correlation between AXON and ASML is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since Jun 8, 2001	0.32

The correlation between AXON and ASML shifts across timeframes, from 0.12 (1 year) to 0.37 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap AXON : $39.71B ASML : $665.86B
EPS AXON : $2.41 ASML : $25.86
PE Ratio AXON : 200.16 ASML : 66.77
PEG Ratio AXON : 0.06 ASML : 4.39
PS Ratio AXON : 13.84 ASML : 19.84
PB Ratio AXON : 11.24 ASML : 31.97
Total Revenue (TTM) AXON : $2.98B ASML : $33.69B
Gross Profit (TTM) AXON : $1.77B ASML : $17.72B
EBITDA (TTM) AXON : $156.24M ASML : $12.99B

Return for Risk

AXON vs. ASML — Risk / Return Rank

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

AXON

AXON Risk / Return Rank: 16
AXON Sharpe Ratio Rank: 12
AXON Sortino Ratio Rank: 14
AXON Omega Ratio Rank: 14
AXON Calmar Ratio Rank: 19
AXON Martin Ratio Rank: 18

ASML

ASML Risk / Return Rank: 94
ASML Sharpe Ratio Rank: 95
ASML Sortino Ratio Rank: 93
ASML Omega Ratio Rank: 91
ASML Calmar Ratio Rank: 95
ASML Martin Ratio Rank: 95

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.

AXON vs. ASML - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Axon Enterprise, Inc. (AXON) and ASML Holding N.V. (ASML). 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.

	AXON	ASML	Difference
Sharpe ratio: Return per unit of total volatility	-0.67	3.29	-3.96
Sortino ratio: Return per unit of downside risk	-0.79	3.71	-4.50
Omega ratio: Gain probability vs. loss probability	0.90	1.45	-0.56
Calmar ratio: Return relative to maximum drawdown	-0.61	7.48	-8.09
Martin ratio: Return relative to average drawdown	-1.06	20.18	-21.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AXON vs. ASML - Sharpe Ratio Comparison

The current AXON Sharpe Ratio is -0.67, which is lower than the ASML Sharpe Ratio of 3.29. The chart below compares the historical Sharpe Ratios of AXON and ASML, 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

	AXON	ASML	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.67	3.29	-3.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.52	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.89	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.56	-0.04

Drawdowns

AXON vs. ASML - Drawdown Comparison

The maximum AXON drawdown since its inception was -91.78%, roughly equal to the maximum ASML drawdown of -90.00%. Use the drawdown chart below to compare losses from any high point for AXON and ASML.

Drawdown Indicators

	AXON	ASML	Difference
Max Drawdown Largest peak-to-trough decline	-91.78%	-90.00%	-1.78%
Max Drawdown (1Y) Largest decline over 1 year	-60.28%	-17.85%	-42.43%
Max Drawdown (3Y) Largest decline over 3 years	-60.28%	-45.38%	-14.90%
Max Drawdown (5Y) Largest decline over 5 years	-60.28%	-56.84%	-3.44%
Max Drawdown (10Y) Largest decline over 10 years	-60.28%	-56.84%	-3.44%
Current Drawdown Current decline from peak	-44.72%	0.00%	-44.72%
Average Drawdown Average peak-to-trough decline	-43.59%	-28.15%	-15.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.48%	6.61%	+27.87%

Volatility

AXON vs. ASML - Volatility Comparison

Axon Enterprise, Inc. (AXON) has a higher volatility of 19.59% compared to ASML Holding N.V. (ASML) at 14.67%. This indicates that AXON's price experiences larger fluctuations and is considered to be riskier than ASML based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AXON	ASML	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.59%	14.67%	+4.92%
Volatility (6M) Calculated over the trailing 6-month period	43.35%	32.21%	+11.14%
Volatility (1Y) Calculated over the trailing 1-year period	54.98%	40.58%	+14.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	47.85%	42.03%	+5.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	49.10%	38.50%	+10.60%

Dividends

AXON vs. ASML - Dividend Comparison

AXON has not paid dividends to shareholders, while ASML's dividend yield for the trailing twelve months is around 0.51%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASML ASML Holding N.V.	0.51%	0.97%	0.97%	0.86%	1.27%	0.50%	0.50%	1.40%	0.94%	0.64%	0.92%	0.73%
AXON Axon Enterprise, 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%

Financials

AXON vs. ASML - Profitability Comparison

The chart below illustrates the profitability comparison between Axon Enterprise, Inc. and ASML Holding N.V. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AXON - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Axon Enterprise, Inc. reported a gross profit of 477.29M and revenue of 807.35M. Therefore, the gross margin over that period was 59.1%.

ASML - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ASML Holding N.V. reported a gross profit of 4.65B and revenue of 8.77B. Therefore, the gross margin over that period was 53.0%.

AXON - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Axon Enterprise, Inc. reported an operating income of 29.24M and revenue of 807.35M, resulting in an operating margin of 3.6%.

ASML - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ASML Holding N.V. reported an operating income of 3.16B and revenue of 8.77B, resulting in an operating margin of 36.0%.

AXON - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Axon Enterprise, Inc. reported a net income of 169.31M and revenue of 807.35M, resulting in a net margin of 21.0%.

ASML - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ASML Holding N.V. reported a net income of 2.76B and revenue of 8.77B, resulting in a net margin of 31.4%.

Frequently Asked Questions

Can I hold both AXON and ASML in my portfolio?

AXON and ASML have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AXON or ASML?

AXON has higher volatility (19.59%) compared to ASML (14.67%). In terms of maximum drawdown, AXON dropped -91.78% vs ASML's -90.00%.

Which has better risk-adjusted returns?

ASML currently has the higher Sharpe Ratio (3.29 vs -0.67), 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.