CM vs. TSM
CM (Canadian Imperial Bank of Commerce) and TSM (Taiwan Semiconductor Manufacturing Company Limited) are both stocks. CM operates in Banks - Diversified (Financial Services), while TSM operates in Semiconductors (Technology). Over the past 10 years, CM returned 18.55%/yr vs 33.46%/yr for TSM. Their 0.33 correlation means their historical movements had little consistent relationship.
Performance
CM vs. TSM - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with CM having a 32.80% return and TSM slightly higher at 33.71%. Over the past 10 years, CM has underperformed TSM with an annualized return of 18.55%, while TSM has yielded a comparatively higher 33.46% annualized return.
CM
- 1D
- 0.24%
- 1M
- 2.14%
- 6M
- 30.24%
- YTD
- 32.80%
- 1Y
- 71.34%
- 3Y*
- 46.73%
- 5Y*
- 21.43%
- 10Y*
- 18.55%
- ALL TIME*
- 13.80%
TSM
- 1D
- 0.23%
- 1M
- -9.00%
- 6M
- 22.92%
- YTD
- 33.71%
- 1Y
- 69.13%
- 3Y*
- 62.43%
- 5Y*
- 30.32%
- 10Y*
- 33.46%
- ALL TIME*
- 16.20%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $112.13M | $139.31M | $149.20M | |
| $6.03B | $6.30B | $6.05B |
CM vs. TSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CM Canadian Imperial Bank of Commerce | 32.80% | 49.02% | 37.83% | 27.23% | -25.71% | 42.29% | 9.25% | 19.22% | -19.75% | 26.58% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 33.71% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -3.50% | 41.46% |
Correlation
The correlation between CM and TSM is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.31 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 1997 | 0.33 |
Fundamentals
CM:
$109.85B
TSM:
$2.10T
CM:
CA$12.82
TSM:
NT$432.27
CM:
12.96
TSM:
30.30
CM:
1.60
TSM:
0.84
CM:
2.06
TSM:
15.26
CM:
1.94
TSM:
10.56
CM:
CA$61.84B
TSM:
NT$4.45T
CM:
CA$28.74B
TSM:
NT$2.86T
CM:
CA$13.01B
TSM:
NT$3.20T
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
CM vs. TSM — Risk / Return Rank
CM
TSM
CM vs. TSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Canadian Imperial Bank of Commerce (CM) and Taiwan Semiconductor Manufacturing Company Limited (TSM). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CM | TSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.91 | ||
| Sortino ratioReturn per unit of downside risk | +2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.28 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 6.65 | 3.23 | +3.42 |
| Martin ratioReturn relative to average drawdown | 26.12 | 10.80 | +15.32 |
Loading charts...
Drawdowns
CM vs. TSM - Drawdown Comparison
The maximum CM drawdown since its inception was -71.70%, smaller than the maximum TSM drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for CM and TSM.
Loading charts...
Drawdown Indicators
| CM | TSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.70% | -89.08% | +17.38% |
Max Drawdown (1Y)Largest decline over 1 year | -10.79% | -21.55% | +10.76% |
Max Drawdown (3Y)Largest decline over 3 years | -17.35% | -36.82% | +19.47% |
Max Drawdown (5Y)Largest decline over 5 years | -40.61% | -56.47% | +15.86% |
Max Drawdown (10Y)Largest decline over 10 years | -47.82% | -56.47% | +8.65% |
Current DrawdownCurrent decline from peak | -2.22% | -15.35% | +13.13% |
Average DrawdownAverage peak-to-trough decline | -14.59% | -42.69% | +28.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.74% | 6.43% | -3.69% |
Volatility
CM vs. TSM - Volatility Comparison
The current volatility for Canadian Imperial Bank of Commerce (CM) is 6.74%, while Taiwan Semiconductor Manufacturing Company Limited (TSM) has a volatility of 13.76%. This indicates that CM experiences smaller price fluctuations and is considered to be less risky than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CM | TSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.74% | 13.76% | -7.02% |
Volatility (6M)Calculated over the trailing 6-month period | 16.61% | 33.07% | -16.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.84% | 40.75% | -20.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.50% | 38.35% | -16.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.64% | 34.75% | -12.11% |
Dividends
CM vs. TSM - Dividend Comparison
CM's dividend yield for the trailing twelve months is around 2.54%, more than TSM's 0.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CM Canadian Imperial Bank of Commerce | 2.54% | 3.17% | 4.21% | 5.88% | 7.77% | 4.08% | 5.06% | 6.47% | 5.48% | 5.28% | 5.93% | 6.71% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 0.87% | 1.00% | 1.18% | 1.78% | 2.49% | 1.57% | 1.56% | 3.46% | 3.64% | 2.32% | 2.61% | 2.54% |
Financials
CM vs. TSM - Financials Comparison
This section allows you to compare key financial metrics between Canadian Imperial Bank of Commerce and Taiwan Semiconductor Manufacturing Company Limited. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CM vs. TSM - Profitability Comparison
CM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Canadian Imperial Bank of Commerce reported a gross profit of 7.36B and revenue of 15.22B. Therefore, the gross margin over that period was 48.4%.
TSM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Taiwan Semiconductor Manufacturing Company Limited reported a gross profit of 860.31B and revenue of 1.27T. Therefore, the gross margin over that period was 67.7%.
CM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Canadian Imperial Bank of Commerce reported an operating income of 3.20B and revenue of 15.22B, resulting in an operating margin of 21.0%.
TSM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Taiwan Semiconductor Manufacturing Company Limited reported an operating income of 766.60B and revenue of 1.27T, resulting in an operating margin of 60.3%.
CM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Canadian Imperial Bank of Commerce reported a net income of 2.46B and revenue of 15.22B, resulting in a net margin of 16.1%.
TSM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Taiwan Semiconductor Manufacturing Company Limited reported a net income of 706.56B and revenue of 1.27T, resulting in a net margin of 55.6%.
Frequently Asked Questions
CM and TSM have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSM has higher volatility (13.76%) compared to CM (6.74%). In terms of maximum drawdown, CM dropped -71.70% vs TSM's -89.08%.
CM currently has the higher Sharpe Ratio (3.62 vs 1.71), 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.
Find the right allocation for CM and TSM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer