ON vs. MPWR
ON (ON Semiconductor Corporation) and MPWR (Monolithic Power Systems, Inc.) are both stocks. Both operate in the Semiconductors industry within the Technology sector. Over the past 10 years, ON returned 23.72%/yr vs 36.06%/yr for MPWR. Their 0.60 correlation means they have sometimes moved together and sometimes differently.
Performance
ON vs. MPWR - Performance Comparison
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Returns By Period
In the year-to-date period, ON achieves a 50.71% return, which is significantly lower than MPWR's 57.89% return. Over the past 10 years, ON has underperformed MPWR with an annualized return of 23.72%, while MPWR has yielded a comparatively higher 36.06% annualized return.
ON
- 1D
- -2.54%
- 1M
- -10.53%
- 6M
- 36.27%
- YTD
- 50.71%
- 1Y
- 43.63%
- 3Y*
- -8.94%
- 5Y*
- 15.88%
- 10Y*
- 23.72%
- ALL TIME*
- 4.63%
MPWR
- 1D
- 8.35%
- 1M
- 10.70%
- 6M
- 27.30%
- YTD
- 57.89%
- 1Y
- 82.79%
- 3Y*
- 38.39%
- 5Y*
- 26.91%
- 10Y*
- 36.06%
- ALL TIME*
- 27.19%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.37B | $1.27B | $1.35B | |
| $734.43M | $864.80M | $1.33B |
ON vs. MPWR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ON ON Semiconductor Corporation | 50.71% | -14.12% | -24.52% | 33.93% | -8.17% | 107.52% | 34.25% | 47.67% | -21.16% | 64.11% |
MPWR Monolithic Power Systems, Inc. | 57.89% | 54.45% | -5.55% | 79.78% | -27.78% | 35.49% | 107.49% | 54.80% | 4.49% | 38.23% |
Correlation
The correlation between ON and MPWR is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.72 |
Correlation (3Y) Balances recent behavior with more history. | 0.71 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.75 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 2004 | 0.60 |
The correlation between ON and MPWR shifts across timeframes, from 0.60 (all time) to 0.75 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
ON:
$31.76B
MPWR:
$70.06B
ON:
$1.43
MPWR:
$16.33
ON:
57.11
MPWR:
87.33
ON:
5.40
MPWR:
21.32
ON:
4.40
MPWR:
18.03
ON:
$6.06B
MPWR:
$3.27B
ON:
$2.26B
MPWR:
$1.81B
ON:
$1.21B
MPWR:
$1.01B
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Return for Risk
ON vs. MPWR — Risk / Return Rank
ON
MPWR
ON vs. MPWR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ON Semiconductor Corporation (ON) and Monolithic Power Systems, Inc. (MPWR). 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 | MPWR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.19 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.30 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.09 | 3.94 | -2.85 |
| Martin ratioReturn relative to average drawdown | 3.12 | 9.44 | -6.32 |
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Drawdowns
ON vs. MPWR - Drawdown Comparison
The maximum ON drawdown since its inception was -96.34%, which is greater than MPWR's maximum drawdown of -72.27%. Use the drawdown chart below to compare losses from any high point for ON and MPWR.
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Drawdown Indicators
| ON | MPWR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.34% | -72.27% | -24.07% |
Max Drawdown (1Y)Largest decline over 1 year | -41.12% | -25.99% | -15.13% |
Max Drawdown (3Y)Largest decline over 3 years | -69.16% | -51.65% | -17.51% |
Max Drawdown (5Y)Largest decline over 5 years | -70.44% | -51.65% | -18.79% |
Max Drawdown (10Y)Largest decline over 10 years | -70.44% | -51.65% | -18.79% |
Current DrawdownCurrent decline from peak | -39.07% | -15.49% | -23.58% |
Average DrawdownAverage peak-to-trough decline | -53.78% | -17.71% | -36.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.40% | 10.83% | +3.57% |
Volatility
ON vs. MPWR - Volatility Comparison
ON Semiconductor Corporation (ON) and Monolithic Power Systems, Inc. (MPWR) have volatilities of 17.99% and 18.57%, 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.
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Volatility by Period
| ON | MPWR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.99% | 18.57% | -0.58% |
Volatility (6M)Calculated over the trailing 6-month period | 54.11% | 44.07% | +10.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.32% | 54.05% | +9.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.46% | 54.63% | +0.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.10% | 47.86% | +4.24% |
Dividends
ON vs. MPWR - Dividend Comparison
ON has not paid dividends to shareholders, while MPWR's dividend yield for the trailing twelve months is around 0.50%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MPWR Monolithic Power Systems, Inc. | 0.50% | 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
ON vs. MPWR - Financials Comparison
This section allows you to compare key financial metrics between ON Semiconductor Corporation and Monolithic Power Systems, 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. MPWR - Profitability Comparison
ON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 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 - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Monolithic Power Systems, Inc. reported a gross profit of 541.07M and revenue of 980.64M. Therefore, the gross margin over that period was 55.2%.
ON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 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 - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Monolithic Power Systems, Inc. reported an operating income of 303.89M and revenue of 980.64M, resulting in an operating margin of 31.0%.
ON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, ON Semiconductor Corporation reported a net income of -33.40M and revenue of 1.51B, resulting in a net margin of -2.2%.
MPWR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Monolithic Power Systems, Inc. reported a net income of 257.30M and revenue of 980.64M, resulting in a net margin of 26.2%.
Frequently Asked Questions
ON and MPWR have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MPWR has higher volatility (18.57%) compared to ON (17.99%). In terms of maximum drawdown, ON dropped -96.34% vs MPWR's -72.27%.
MPWR currently has the higher Sharpe Ratio (1.90 vs 0.71), 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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