MPWR vs. MCK

Last updated Jun 9, 2026

MPWR (Monolithic Power Systems, Inc.) and MCK (McKesson Corporation) are both stocks. MPWR operates in Semiconductors (Technology), while MCK operates in Medical Distribution (Healthcare). Over the past 10 years, MPWR returned 37.72%/yr vs 16.13%/yr for MCK. At a 0.21 correlation, their price movements are largely independent.

Performance

MPWR vs. MCK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monolithic Power Systems, Inc. (MPWR) and McKesson Corporation (MCK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MPWR achieves a 72.37% return, which is significantly higher than MCK's -6.36% return. Over the past 10 years, MPWR has outperformed MCK with an annualized return of 37.72%, while MCK has yielded a comparatively lower 16.13% annualized return.

MPWR

• 1D: 5.28%
• 1M: -2.60%
• YTD: 72.37%
• 6M: 59.11%
• 1Y: 128.65%
• 3Y*: 47.03%
• 5Y*: 36.56%
• 10Y*: 37.72%

MCK

• 1D: -1.16%
• 1M: 4.27%
• YTD: -6.36%
• 6M: -3.74%
• 1Y: 7.98%
• 3Y*: 25.42%
• 5Y*: 32.82%
• 10Y*: 16.13%

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

MPWR vs. MCK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MPWR Monolithic Power Systems, Inc.	72.37%	54.45%	-5.55%	79.78%	-27.78%	35.49%	107.49%	54.80%	4.49%	38.23%
MCK McKesson Corporation	-6.36%	44.54%	23.67%	24.13%	51.82%	44.23%	27.06%	26.72%	-28.40%	11.95%

Correlation

The correlation between MPWR and MCK is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (3Y) Calculated over the trailing 3-year period	-0.09
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Nov 19, 2004	0.21

The correlation between MPWR and MCK shifts across timeframes, from -0.11 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MPWR : $76.78B MCK : $94.07B
EPS MPWR : $13.89 MCK : $38.38
PE Ratio MPWR : 112.24 MCK : 19.97
PEG Ratio MPWR : 1.41 MCK : 0.27
PS Ratio MPWR : 25.63 MCK : 0.24
PB Ratio MPWR : 20.88 MCK : 13.60
Total Revenue (TTM) MPWR : $2.96B MCK : $403.43B
Gross Profit (TTM) MPWR : $1.63B MCK : $14.55B
EBITDA (TTM) MPWR : $861.78M MCK : $6.91B

Return for Risk

MPWR vs. MCK — Risk / Return Rank

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

MPWR

MPWR Risk / Return Rank: 92
MPWR Sharpe Ratio Rank: 94
MPWR Sortino Ratio Rank: 90
MPWR Omega Ratio Rank: 88
MPWR Calmar Ratio Rank: 94
MPWR Martin Ratio Rank: 93

MCK

MCK Risk / Return Rank: 49
MCK Sharpe Ratio Rank: 52
MCK Sortino Ratio Rank: 47
MCK Omega Ratio Rank: 47
MCK Calmar Ratio Rank: 49
MCK Martin Ratio Rank: 51

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.

MPWR vs. MCK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monolithic Power Systems, Inc. (MPWR) and McKesson Corporation (MCK). 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.

	MPWR	MCK	Difference
Sharpe ratio: Return per unit of total volatility	2.70	0.28	+2.43
Sortino ratio: Return per unit of downside risk	3.12	0.65	+2.48
Omega ratio: Gain probability vs. loss probability	1.39	1.08	+0.31
Calmar ratio: Return relative to maximum drawdown	5.76	0.29	+5.47
Martin ratio: Return relative to average drawdown	15.40	0.79	+14.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MPWR vs. MCK - Sharpe Ratio Comparison

The current MPWR Sharpe Ratio is 2.70, which is higher than the MCK Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of MPWR and MCK, 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

	MPWR	MCK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	0.28	+2.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	1.36	-0.68
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	0.56	+0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.44	+0.14

Drawdowns

MPWR vs. MCK - Drawdown Comparison

The maximum MPWR drawdown since its inception was -72.27%, smaller than the maximum MCK drawdown of -82.84%. Use the drawdown chart below to compare losses from any high point for MPWR and MCK.

Drawdown Indicators

	MPWR	MCK	Difference
Max Drawdown Largest peak-to-trough decline	-72.27%	-82.84%	+10.57%
Max Drawdown (1Y) Largest decline over 1 year	-22.45%	-27.17%	+4.72%
Max Drawdown (3Y) Largest decline over 3 years	-51.65%	-27.17%	-24.48%
Max Drawdown (5Y) Largest decline over 5 years	-51.65%	-27.17%	-24.48%
Max Drawdown (10Y) Largest decline over 10 years	-51.65%	-44.23%	-7.42%
Current Drawdown Current decline from peak	-7.73%	-22.92%	+15.19%
Average Drawdown Average peak-to-trough decline	-17.72%	-28.65%	+10.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.38%	10.06%	-1.68%

Volatility

MPWR vs. MCK - Volatility Comparison

Monolithic Power Systems, Inc. (MPWR) has a higher volatility of 19.38% compared to McKesson Corporation (MCK) at 6.94%. This indicates that MPWR's price experiences larger fluctuations and is considered to be riskier than MCK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MPWR	MCK	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.38%	6.94%	+12.44%
Volatility (6M) Calculated over the trailing 6-month period	36.53%	22.76%	+13.77%
Volatility (1Y) Calculated over the trailing 1-year period	47.99%	29.16%	+18.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.40%	24.20%	+29.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	47.17%	28.82%	+18.35%

Dividends

MPWR vs. MCK - Dividend Comparison

MPWR's dividend yield for the trailing twelve months is around 0.43%, which matches MCK's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCK McKesson Corporation	0.43%	0.37%	0.47%	0.50%	0.54%	0.72%	0.95%	1.16%	1.32%	0.80%	0.80%	0.53%
MPWR Monolithic Power Systems, Inc.	0.43%	0.69%	0.85%	0.63%	0.85%	0.49%	0.55%	0.90%	1.03%	0.71%	0.98%	1.26%

Financials

MPWR vs. MCK - Profitability Comparison

The chart below illustrates the profitability comparison between Monolithic Power Systems, Inc. and McKesson Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MPWR - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Monolithic Power Systems, Inc. reported a gross profit of 445.07M and revenue of 804.19M. Therefore, the gross margin over that period was 55.3%.

MCK - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, McKesson Corporation reported a gross profit of 4.04B and revenue of 96.30B. Therefore, the gross margin over that period was 4.2%.

MPWR - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Monolithic Power Systems, Inc. reported an operating income of 241.15M and revenue of 804.19M, resulting in an operating margin of 30.0%.

MCK - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, McKesson Corporation reported an operating income of 2.09B and revenue of 96.30B, resulting in an operating margin of 2.2%.

MPWR - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Monolithic Power Systems, Inc. reported a net income of 193.23M and revenue of 804.19M, resulting in a net margin of 24.0%.

MCK - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, McKesson Corporation reported a net income of 1.68B and revenue of 96.30B, resulting in a net margin of 1.8%.

Frequently Asked Questions

Can I hold both MPWR and MCK in my portfolio?

MPWR and MCK have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MPWR or MCK?

MPWR has higher volatility (19.38%) compared to MCK (6.94%). In terms of maximum drawdown, MPWR dropped -72.27% vs MCK's -82.84%.

Which has better risk-adjusted returns?

MPWR currently has the higher Sharpe Ratio (2.70 vs 0.28), 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.