MKOR vs. TSM

Last updated Apr 1, 2026

Compare and contrast key facts about Matthews Korea Active ETF (MKOR) and Taiwan Semiconductor Manufacturing Company Limited (TSM).

MKOR is an actively managed fund by Matthews. It was launched on Oct 29, 2010.

Performance

MKOR vs. TSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Korea Active ETF (MKOR) and Taiwan Semiconductor Manufacturing Company Limited (TSM). The values are adjusted to include any dividend payments, if applicable.

MKOR vs. TSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MKOR Matthews Korea Active ETF	26.80%	70.33%	-15.76%	-2.16%
TSM Taiwan Semiconductor Manufacturing Company Limited	11.52%	55.91%	92.58%	0.23%

Returns By Period

In the year-to-date period, MKOR achieves a 26.80% return, which is significantly higher than TSM's 11.52% return.

MKOR

• 1D: 5.51%
• 1M: -16.25%
• YTD: 26.80%
• 6M: 48.56%
• 1Y: 109.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TSM

• 1D: 6.78%
• 1M: -9.52%
• YTD: 11.52%
• 6M: 21.66%
• 1Y: 106.05%
• 3Y*: 56.00%
• 5Y*: 24.08%
• 10Y*: 32.45%

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

Return for Risk

MKOR vs. TSM — Risk / Return Rank

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

MKOR

MKOR Risk / Return Rank: 97
MKOR Sharpe Ratio Rank: 98
MKOR Sortino Ratio Rank: 97
MKOR Omega Ratio Rank: 97
MKOR Calmar Ratio Rank: 97
MKOR Martin Ratio Rank: 98

TSM

TSM Risk / Return Rank: 95
TSM Sharpe Ratio Rank: 96
TSM Sortino Ratio Rank: 94
TSM Omega Ratio Rank: 92
TSM Calmar Ratio Rank: 96
TSM Martin Ratio Rank: 97

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.

MKOR vs. TSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Korea Active ETF (MKOR) 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.

	MKOR	TSM	Difference
Sharpe ratio Return per unit of total volatility	3.49	2.76	+0.73
Sortino ratio Return per unit of downside risk	3.88	3.33	+0.55
Omega ratio Gain probability vs. loss probability	1.55	1.42	+0.13
Calmar ratio Return relative to maximum drawdown	5.23	5.90	-0.67
Martin ratio Return relative to average drawdown	22.29	20.02	+2.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MKOR vs. TSM - Sharpe Ratio Comparison

The current MKOR Sharpe Ratio is 3.49, which is comparable to the TSM Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of MKOR and TSM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MKOR	TSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.49	2.76	+0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.96	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	0.35	+0.64

Correlation

The correlation between MKOR and TSM is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MKOR vs. TSM - Dividend Comparison

MKOR's dividend yield for the trailing twelve months is around 2.07%, more than TSM's 0.98% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MKOR Matthews Korea Active ETF	2.07%	2.62%	5.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TSM Taiwan Semiconductor Manufacturing Company Limited	0.98%	1.00%	1.18%	1.78%	2.49%	1.57%	1.56%	3.46%	3.64%	2.32%	2.61%	2.54%

Drawdowns

MKOR vs. TSM - Drawdown Comparison

The maximum MKOR drawdown since its inception was -22.09%, smaller than the maximum TSM drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for MKOR and TSM.

Drawdown Indicators

	MKOR	TSM	Difference
Max Drawdown Largest peak-to-trough decline	-22.09%	-89.08%	+66.99%
Max Drawdown (1Y) Largest decline over 1 year	-20.62%	-18.14%	-2.48%
Max Drawdown (5Y) Largest decline over 5 years	—	-56.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-56.47%	—
Current Drawdown Current decline from peak	-16.25%	-12.59%	-3.66%
Average Drawdown Average peak-to-trough decline	-6.39%	-43.13%	+36.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.84%	5.34%	-0.50%

Volatility

MKOR vs. TSM - Volatility Comparison

Matthews Korea Active ETF (MKOR) has a higher volatility of 20.30% compared to Taiwan Semiconductor Manufacturing Company Limited (TSM) at 14.44%. This indicates that MKOR's price experiences larger fluctuations and is considered to be riskier than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MKOR	TSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	20.30%	14.44%	+5.86%
Volatility (6M) Calculated over the trailing 6-month period	27.34%	27.19%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	31.64%	38.60%	-6.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.25%	36.99%	-12.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.25%	33.85%	-9.60%