ON vs. FCX
ON (ON Semiconductor Corporation) and FCX (Freeport-McMoRan Inc.) are both stocks. ON operates in Semiconductors (Technology), while FCX operates in Copper (Basic Materials). Over the past 10 years, ON returned 28.16%/yr vs 22.12%/yr for FCX. At a 0.35 correlation, their price movements are largely independent.
Performance
ON vs. FCX - Performance Comparison
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Returns By Period
In the year-to-date period, ON achieves a 115.68% return, which is significantly higher than FCX's 35.32% return. Over the past 10 years, ON has outperformed FCX with an annualized return of 28.16%, while FCX has yielded a comparatively lower 22.12% annualized return.
ON
- 1D
- 0.72%
- 1M
- -1.33%
- YTD
- 115.68%
- 6M
- 112.50%
- 1Y
- 128.91%
- 3Y*
- 8.02%
- 5Y*
- 25.32%
- 10Y*
- 28.16%
FCX
- 1D
- 3.12%
- 1M
- 3.43%
- YTD
- 35.32%
- 6M
- 45.06%
- 1Y
- 69.04%
- 3Y*
- 21.38%
- 5Y*
- 12.26%
- 10Y*
- 22.12%
ON vs. FCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ON ON Semiconductor Corporation | 115.68% | -14.12% | -24.52% | 33.93% | -8.17% | 107.52% | 34.25% | 47.67% | -21.16% | 64.11% |
FCX Freeport-McMoRan Inc. | 35.32% | 35.41% | -9.41% | 13.69% | -7.91% | 61.41% | 99.06% | 29.59% | -45.11% | 43.75% |
Correlation
The correlation between ON and FCX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since May 2, 2000 | 0.35 |
Fundamentals
ON:
$46.03B
FCX:
$98.78B
ON:
$1.42
FCX:
$1.89
ON:
82.41
FCX:
36.13
ON:
7.80
FCX:
3.74
ON:
6.30
FCX:
5.06
ON:
$6.06B
FCX:
$26.42B
ON:
$2.26B
FCX:
$7.35B
ON:
$1.21B
FCX:
$9.59B
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Return for Risk
ON vs. FCX — Risk / Return Rank
ON
FCX
ON vs. FCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ON Semiconductor Corporation (ON) and Freeport-McMoRan Inc. (FCX). 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.
| ON | FCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.25 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.31 | 2.75 | +1.56 |
| Martin ratioReturn relative to average drawdown | 8.63 | 6.85 | +1.78 |
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Drawdowns
ON vs. FCX - Drawdown Comparison
The maximum ON drawdown since its inception was -96.34%, roughly equal to the maximum FCX drawdown of -92.52%. Use the drawdown chart below to compare losses from any high point for ON and FCX.
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Drawdown Indicators
| ON | FCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.34% | -92.52% | -3.82% |
Max Drawdown (1Y)Largest decline over 1 year | -28.10% | -24.90% | -3.20% |
Max Drawdown (3Y)Largest decline over 3 years | -70.44% | -46.34% | -24.10% |
Max Drawdown (5Y)Largest decline over 5 years | -70.44% | -51.47% | -18.97% |
Max Drawdown (10Y)Largest decline over 10 years | -70.44% | -72.59% | +2.15% |
Current DrawdownCurrent decline from peak | -12.80% | -4.62% | -8.18% |
Average DrawdownAverage peak-to-trough decline | -53.91% | -39.62% | -14.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.01% | 9.97% | +4.04% |
Volatility
ON vs. FCX - Volatility Comparison
ON Semiconductor Corporation (ON) has a higher volatility of 22.04% compared to Freeport-McMoRan Inc. (FCX) at 17.98%. This indicates that ON's price experiences larger fluctuations and is considered to be riskier than FCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ON | FCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.04% | 17.98% | +4.06% |
Volatility (6M)Calculated over the trailing 6-month period | 40.05% | 37.53% | +2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.10% | 48.88% | +5.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 53.32% | 45.14% | +8.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.10% | 48.65% | +2.45% |
Dividends
ON vs. FCX - Dividend Comparison
ON has not paid dividends to shareholders, while FCX's dividend yield for the trailing twelve months is around 0.88%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCX Freeport-McMoRan Inc. | 0.88% | 1.18% | 1.58% | 1.41% | 0.99% | 0.54% | 0.19% | 1.52% | 1.45% | 0.00% | 0.00% | 8.46% |
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
ON vs. FCX - Financials Comparison
This section allows you to compare key financial metrics between ON Semiconductor Corporation and Freeport-McMoRan Inc.. 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
ON vs. FCX - Profitability Comparison
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%.
FCX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Freeport-McMoRan Inc. reported a gross profit of 1.66B and revenue of 6.23B. Therefore, the gross margin over that period was 26.6%.
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%.
FCX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Freeport-McMoRan Inc. reported an operating income of 2.14B and revenue of 6.23B, resulting in an operating margin of 34.3%.
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%.
FCX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Freeport-McMoRan Inc. reported a net income of 881.00M and revenue of 6.23B, resulting in a net margin of 14.1%.
Frequently Asked Questions
ON and FCX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ON has higher volatility (22.04%) compared to FCX (17.98%). In terms of maximum drawdown, ON dropped -96.34% vs FCX's -92.52%.
ON currently has the higher Sharpe Ratio (2.24 vs 1.40), 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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