MPWR vs. ON
MPWR (Monolithic Power Systems, Inc.) and ON (ON Semiconductor Corporation) are both stocks. Both operate in the Semiconductors industry within the Technology sector. Over the past 10 years, MPWR returned 38.11%/yr vs 30.63%/yr for ON. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
MPWR vs. ON - Performance Comparison
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Returns By Period
In the year-to-date period, MPWR achieves a 70.02% return, which is significantly lower than ON's 142.94% return. Over the past 10 years, MPWR has outperformed ON with an annualized return of 38.11%, while ON has yielded a comparatively lower 30.63% annualized return.
MPWR
- 1D
- -1.65%
- 1M
- -3.27%
- YTD
- 70.02%
- 6M
- 63.31%
- 1Y
- 125.92%
- 3Y*
- 45.96%
- 5Y*
- 35.43%
- 10Y*
- 38.11%
ON
- 1D
- 8.16%
- 1M
- 13.21%
- YTD
- 142.94%
- 6M
- 133.37%
- 1Y
- 149.05%
- 3Y*
- 14.55%
- 5Y*
- 28.95%
- 10Y*
- 30.63%
MPWR vs. ON - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MPWR Monolithic Power Systems, Inc. | 70.02% | 54.45% | -5.55% | 79.78% | -27.78% | 35.49% | 107.49% | 54.80% | 4.49% | 38.23% |
ON ON Semiconductor Corporation | 142.94% | -14.12% | -24.52% | 33.93% | -8.17% | 107.52% | 34.25% | 47.67% | -21.16% | 64.11% |
Correlation
The correlation between MPWR and ON is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2004 | 0.60 |
The correlation between MPWR and ON shifts across timeframes, from 0.60 (all time) to 0.75 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
MPWR:
$75.73B
ON:
$51.84B
MPWR:
$13.89
ON:
$1.42
MPWR:
110.70
ON:
92.83
MPWR:
25.28
ON:
8.78
MPWR:
20.59
ON:
7.10
MPWR:
$2.96B
ON:
$6.06B
MPWR:
$1.63B
ON:
$2.26B
MPWR:
$861.78M
ON:
$1.21B
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Return for Risk
MPWR vs. ON — Risk / Return Rank
MPWR
ON
MPWR vs. ON - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Monolithic Power Systems, Inc. (MPWR) and ON Semiconductor Corporation (ON). 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.
| MPWR | ON | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.40 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 5.64 | 5.34 | +0.31 |
| Martin ratioReturn relative to average drawdown | 14.83 | 10.63 | +4.20 |
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Drawdowns
MPWR vs. ON - Drawdown Comparison
The maximum MPWR drawdown since its inception was -72.27%, smaller than the maximum ON drawdown of -96.34%. Use the drawdown chart below to compare losses from any high point for MPWR and ON.
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Drawdown Indicators
| MPWR | ON | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.27% | -96.34% | +24.07% |
Max Drawdown (1Y)Largest decline over 1 year | -22.45% | -28.10% | +5.65% |
Max Drawdown (3Y)Largest decline over 3 years | -51.65% | -70.44% | +18.79% |
Max Drawdown (5Y)Largest decline over 5 years | -51.65% | -70.44% | +18.79% |
Max Drawdown (10Y)Largest decline over 10 years | -51.65% | -70.44% | +18.79% |
Current DrawdownCurrent decline from peak | -9.00% | -1.78% | -7.22% |
Average DrawdownAverage peak-to-trough decline | -17.70% | -53.88% | +36.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.52% | 14.08% | -5.56% |
Volatility
MPWR vs. ON - Volatility Comparison
The current volatility for Monolithic Power Systems, Inc. (MPWR) is 23.19%, while ON Semiconductor Corporation (ON) has a volatility of 25.51%. This indicates that MPWR experiences smaller price fluctuations and is considered to be less risky than ON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MPWR | ON | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.19% | 25.51% | -2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 39.46% | 42.52% | -3.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.78% | 55.85% | -6.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.89% | 53.76% | +0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.45% | 51.34% | -3.89% |
Dividends
MPWR vs. ON - Dividend Comparison
MPWR's dividend yield for the trailing twelve months is around 0.43%, while ON has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ON ON Semiconductor Corporation | 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
MPWR vs. ON - Financials Comparison
This section allows you to compare key financial metrics between Monolithic Power Systems, Inc. and ON Semiconductor Corporation. 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
MPWR vs. ON - Profitability Comparison
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%.
ON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ON Semiconductor Corporation reported a gross profit of 583.10M and revenue of 1.51B. Therefore, the gross margin over that period was 38.5%.
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%.
ON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ON Semiconductor Corporation reported an operating income of -53.40M and revenue of 1.51B, resulting in an operating margin of -3.5%.
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%.
ON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ON Semiconductor Corporation reported a net income of -33.40M and revenue of 1.51B, resulting in a net margin of -2.2%.
Frequently Asked Questions
MPWR and ON have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ON has higher volatility (25.51%) compared to MPWR (23.19%). In terms of maximum drawdown, MPWR dropped -72.27% vs ON's -96.34%.
ON currently has the higher Sharpe Ratio (2.69 vs 2.55), 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.
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