META vs. ONON
META (Meta Platforms, Inc.) and ONON (On Holding AG) are both stocks. META operates in Internet Content & Information (Communication Services), while ONON operates in Apparel Retail (Consumer Cyclical). Over the past 3 years, META returned 28.18%/yr vs 9.06%/yr for ONON. At a 0.40 correlation, their price movements are largely independent.
Performance
META vs. ONON - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, META achieves a -14.03% return, which is significantly higher than ONON's -17.00% return.
META
- 1D
- -0.26%
- 1M
- -8.32%
- YTD
- -14.03%
- 6M
- -11.84%
- 1Y
- -16.71%
- 3Y*
- 28.18%
- 5Y*
- 11.52%
- 10Y*
- 17.39%
ONON
- 1D
- -1.61%
- 1M
- 4.72%
- YTD
- -17.00%
- 6M
- -20.88%
- 1Y
- -26.18%
- 3Y*
- 9.06%
- 5Y*
- —
- 10Y*
- —
META vs. ONON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
META Meta Platforms, Inc. | -14.03% | 13.09% | 66.05% | 194.13% | -64.22% | -10.67% |
ONON On Holding AG | -17.00% | -15.14% | 103.08% | 57.17% | -54.62% | 6.81% |
Correlation
The correlation between META and ONON is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2021 | 0.40 |
Fundamentals
META:
$1.45T
ONON:
$12.95B
META:
$27.47
ONON:
CHF 0.75
META:
20.64
ONON:
40.87
META:
0.85
ONON:
0.60
META:
6.78
ONON:
3.29
META:
5.97
ONON:
5.83
META:
$214.96B
ONON:
CHF 3.13B
META:
$176.14B
ONON:
CHF 2.00B
META:
$106.31B
ONON:
CHF 422.52M
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
META vs. ONON — Risk / Return Rank
META
ONON
META vs. ONON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Meta Platforms, Inc. (META) and On Holding AG (ONON). 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.
| META | ONON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.90 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.54 | -0.75 | +0.20 |
| Martin ratioReturn relative to average drawdown | -1.12 | -1.37 | +0.25 |
Loading charts...
Drawdowns
META vs. ONON - Drawdown Comparison
The maximum META drawdown since its inception was -76.74%, which is greater than ONON's maximum drawdown of -68.90%. Use the drawdown chart below to compare losses from any high point for META and ONON.
Loading charts...
Drawdown Indicators
| META | ONON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.74% | -68.90% | -7.84% |
Max Drawdown (1Y)Largest decline over 1 year | -33.30% | -41.35% | +8.05% |
Max Drawdown (3Y)Largest decline over 3 years | -34.15% | -49.89% | +15.74% |
Max Drawdown (5Y)Largest decline over 5 years | -76.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -76.74% | — | — |
Current DrawdownCurrent decline from peak | -28.06% | -39.36% | +11.30% |
Average DrawdownAverage peak-to-trough decline | -15.83% | -36.00% | +20.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.06% | 24.17% | -8.11% |
Volatility
META vs. ONON - Volatility Comparison
Meta Platforms, Inc. (META) and On Holding AG (ONON) have volatilities of 10.17% and 10.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| META | ONON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.17% | 10.19% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 26.91% | 31.15% | -4.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.52% | 45.23% | -9.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 44.04% | 57.14% | -13.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.67% | 57.14% | -18.47% |
Dividends
META vs. ONON - Dividend Comparison
META's dividend yield for the trailing twelve months is around 0.37%, while ONON has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
META Meta Platforms, Inc. | 0.37% | 0.32% | 0.34% |
ONON On Holding AG | 0.00% | 0.00% | 0.00% |
Financials
META vs. ONON - Financials Comparison
This section allows you to compare key financial metrics between Meta Platforms, Inc. and On Holding AG. 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
META vs. ONON - Profitability Comparison
META - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Meta Platforms, Inc. reported a gross profit of 46.09B and revenue of 56.31B. Therefore, the gross margin over that period was 81.9%.
ONON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, On Holding AG reported a gross profit of 546.22M and revenue of 850.46M. Therefore, the gross margin over that period was 64.2%.
META - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Meta Platforms, Inc. reported an operating income of 22.87B and revenue of 56.31B, resulting in an operating margin of 40.6%.
ONON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, On Holding AG reported an operating income of 120.02M and revenue of 850.46M, resulting in an operating margin of 14.1%.
META - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Meta Platforms, Inc. reported a net income of 26.77B and revenue of 56.31B, resulting in a net margin of 47.5%.
ONON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, On Holding AG reported a net income of 105.60M and revenue of 850.46M, resulting in a net margin of 12.4%.
Frequently Asked Questions
META and ONON have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ONON has higher volatility (10.19%) compared to META (10.17%). In terms of maximum drawdown, META dropped -76.74% vs ONON's -68.90%.
META currently has the higher Sharpe Ratio (-0.51 vs -0.68), 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 META and ONON
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