ONTO vs. NVMI
ONTO (Onto Innovation Inc.) and NVMI (Nova Ltd) are both stocks. Both operate in the Semiconductor Equipment & Materials industry within the Technology sector. Over the past 10 years, ONTO returned 32.92%/yr vs 48.51%/yr for NVMI. At a 0.38 correlation, their price movements are largely independent.
Performance
ONTO vs. NVMI - Performance Comparison
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Returns By Period
In the year-to-date period, ONTO achieves a 120.37% return, which is significantly higher than NVMI's 77.56% return. Over the past 10 years, ONTO has underperformed NVMI with an annualized return of 32.92%, while NVMI has yielded a comparatively higher 48.51% annualized return.
ONTO
- 1D
- 4.23%
- 1M
- 32.65%
- YTD
- 120.37%
- 6M
- 118.42%
- 1Y
- 263.05%
- 3Y*
- 48.86%
- 5Y*
- 38.00%
- 10Y*
- 32.92%
NVMI
- 1D
- 1.35%
- 1M
- 15.81%
- YTD
- 77.56%
- 6M
- 75.36%
- 1Y
- 152.24%
- 3Y*
- 72.97%
- 5Y*
- 42.28%
- 10Y*
- 48.51%
ONTO vs. NVMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ONTO Onto Innovation Inc. | 120.37% | -5.29% | 9.01% | 124.56% | -32.74% | 112.89% | 30.13% | 33.70% | 9.67% | -0.56% |
NVMI Nova Ltd | 77.56% | 66.74% | 43.35% | 68.21% | -44.25% | 107.51% | 86.62% | 66.07% | -12.08% | 96.88% |
Correlation
The correlation between ONTO and NVMI is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2000 | 0.38 |
Over the past year, ONTO and NVMI have become more correlated (0.71) than their long-term average of 0.38, meaning their price movements have been converging.
Fundamentals
ONTO:
$17.39B
NVMI:
$20.08B
ONTO:
$2.15
NVMI:
$7.94
ONTO:
161.54
NVMI:
73.42
ONTO:
14.49
NVMI:
2.55
ONTO:
16.68
NVMI:
21.45
ONTO:
8.16
NVMI:
14.47
ONTO:
$1.03B
NVMI:
$902.53M
ONTO:
$502.93M
NVMI:
$518.59M
ONTO:
$177.93M
NVMI:
$293.89M
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Return for Risk
ONTO vs. NVMI — Risk / Return Rank
ONTO
NVMI
ONTO vs. NVMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Onto Innovation Inc. (ONTO) and Nova Ltd (NVMI). 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.
| ONTO | NVMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.77 | ||
| Sortino ratioReturn per unit of downside risk | +1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.39 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 13.09 | 7.10 | +5.98 |
| Martin ratioReturn relative to average drawdown | 35.58 | 18.88 | +16.70 |
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Drawdowns
ONTO vs. NVMI - Drawdown Comparison
The maximum ONTO drawdown since its inception was -98.56%, roughly equal to the maximum NVMI drawdown of -98.22%. Use the drawdown chart below to compare losses from any high point for ONTO and NVMI.
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Drawdown Indicators
| ONTO | NVMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.56% | -98.22% | -0.34% |
Max Drawdown (1Y)Largest decline over 1 year | -20.24% | -21.56% | +1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -62.82% | -40.79% | -22.03% |
Max Drawdown (5Y)Largest decline over 5 years | -62.82% | -52.76% | -10.06% |
Max Drawdown (10Y)Largest decline over 10 years | -62.82% | -52.76% | -10.06% |
Current DrawdownCurrent decline from peak | 0.00% | -3.72% | +3.72% |
Average DrawdownAverage peak-to-trough decline | -54.66% | -51.72% | -2.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.43% | 8.10% | -0.67% |
Volatility
ONTO vs. NVMI - Volatility Comparison
Onto Innovation Inc. (ONTO) and Nova Ltd (NVMI) have volatilities of 21.93% and 22.15%, 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
| ONTO | NVMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.93% | 22.15% | -0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 44.23% | 42.26% | +1.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.96% | 54.62% | +3.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 55.89% | 47.75% | +8.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.48% | 43.57% | +7.91% |
Dividends
ONTO vs. NVMI - Dividend Comparison
Neither ONTO nor NVMI has paid dividends to shareholders.
Financials
ONTO vs. NVMI - Financials Comparison
This section allows you to compare key financial metrics between Onto Innovation Inc. and Nova Ltd. 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
ONTO vs. NVMI - Profitability Comparison
ONTO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Onto Innovation Inc. reported a gross profit of 146.39M and revenue of 291.95M. Therefore, the gross margin over that period was 50.1%.
NVMI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Nova Ltd reported a gross profit of 135.69M and revenue of 235.31M. Therefore, the gross margin over that period was 57.7%.
ONTO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Onto Innovation Inc. reported an operating income of 33.51M and revenue of 291.95M, resulting in an operating margin of 11.5%.
NVMI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Nova Ltd reported an operating income of 70.84M and revenue of 235.31M, resulting in an operating margin of 30.1%.
ONTO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Onto Innovation Inc. reported a net income of 33.75M and revenue of 291.95M, resulting in a net margin of 11.6%.
NVMI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Nova Ltd reported a net income of 69.26M and revenue of 235.31M, resulting in a net margin of 29.4%.
Frequently Asked Questions
ONTO and NVMI have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVMI has higher volatility (22.15%) compared to ONTO (21.93%). In terms of maximum drawdown, ONTO dropped -98.56% vs NVMI's -98.22%.
ONTO currently has the higher Sharpe Ratio (4.58 vs 2.81), 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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