PDD vs. ASML

Last updated Jun 13, 2026

PDD (Pinduoduo Inc.) and ASML (ASML Holding N.V.) are both stocks. PDD operates in Internet Retail (Consumer Cyclical), while ASML operates in Semiconductor Equipment & Materials (Technology). Over the past 5 years, PDD returned -7.73%/yr vs 22.97%/yr for ASML. At a 0.35 correlation, their price movements are largely independent.

Performance

PDD vs. ASML - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pinduoduo Inc. (PDD) and ASML Holding N.V. (ASML). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PDD achieves a -28.07% return, which is significantly lower than ASML's 74.80% return.

PDD

• 1D: 0.32%
• 1M: -14.67%
• YTD: -28.07%
• 6M: -27.15%
• 1Y: -18.91%
• 3Y*: 1.73%
• 5Y*: -7.73%
• 10Y*: —

ASML

• 1D: -1.89%
• 1M: 17.61%
• YTD: 74.80%
• 6M: 73.02%
• 1Y: 146.81%
• 3Y*: 37.59%
• 5Y*: 22.97%
• 10Y*: 36.00%

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

PDD vs. ASML - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PDD Pinduoduo Inc.	-28.07%	16.91%	-33.71%	79.41%	39.88%	-67.19%	369.78%	68.54%	-15.32%
ASML ASML Holding N.V.	74.80%	56.51%	-7.70%	39.91%	-30.49%	64.13%	66.06%	93.56%	-28.93%

Correlation

The correlation between PDD and ASML is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jul 26, 2018	0.35

Fundamentals

Market Cap PDD : $120.71B ASML : $718.77B
EPS PDD : CN¥64.39 ASML : €25.86
PE Ratio PDD : 8.58 ASML : 62.30
PEG Ratio PDD : 0.08 ASML : 4.10
PS Ratio PDD : 1.86 ASML : 18.51
PB Ratio PDD : 1.94 ASML : 29.83
Total Revenue (TTM) PDD : CN¥441.76B ASML : €33.69B
Gross Profit (TTM) PDD : CN¥247.30B ASML : €17.72B
EBITDA (TTM) PDD : CN¥134.30B ASML : €12.99B

Return for Risk

PDD vs. ASML — Risk / Return Rank

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

PDD

PDD Risk / Return Rank: 18
PDD Sharpe Ratio Rank: 14
PDD Sortino Ratio Rank: 16
PDD Omega Ratio Rank: 16
PDD Calmar Ratio Rank: 25
PDD Martin Ratio Rank: 20

ASML

ASML Risk / Return Rank: 95
ASML Sharpe Ratio Rank: 96
ASML Sortino Ratio Rank: 94
ASML Omega Ratio Rank: 92
ASML Calmar Ratio Rank: 96
ASML Martin Ratio Rank: 96

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.

PDD vs. ASML - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pinduoduo Inc. (PDD) and ASML Holding N.V. (ASML). 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.

	PDD	ASML	Difference
Sharpe ratio: Return per unit of total volatility	-0.65	3.27	-3.92
Sortino ratio: Return per unit of downside risk	-0.75	3.70	-4.45
Omega ratio: Gain probability vs. loss probability	0.91	1.45	-0.54
Calmar ratio: Return relative to maximum drawdown	-0.52	7.83	-8.34
Martin ratio: Return relative to average drawdown	-1.08	21.08	-22.16

PDD vs. ASML - Sharpe Ratio Comparison

The current PDD Sharpe Ratio is -0.65, which is lower than the ASML Sharpe Ratio of 3.27. The chart below compares the historical Sharpe Ratios of PDD and ASML, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PDD vs. ASML - Drawdown Comparison

The maximum PDD drawdown since its inception was -87.41%, roughly equal to the maximum ASML drawdown of -90.00%. Use the drawdown chart below to compare losses from any high point for PDD and ASML.

Drawdown Indicators

	PDD	ASML	Difference
Max Drawdown Largest peak-to-trough decline	-87.41%	-90.00%	+2.59%
Max Drawdown (1Y) Largest decline over 1 year	-41.14%	-17.85%	-23.29%
Max Drawdown (3Y) Largest decline over 3 years	-48.40%	-45.38%	-3.02%
Max Drawdown (5Y) Largest decline over 5 years	-80.88%	-56.84%	-24.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-56.84%	—
Current Drawdown Current decline from peak	-59.79%	-1.89%	-57.90%
Average Drawdown Average peak-to-trough decline	-39.32%	-28.12%	-11.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.55%	6.63%	+12.92%

Volatility

PDD vs. ASML - Volatility Comparison

The current volatility for Pinduoduo Inc. (PDD) is 14.35%, while ASML Holding N.V. (ASML) has a volatility of 17.27%. This indicates that PDD experiences smaller price fluctuations and is considered to be less risky than ASML based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PDD	ASML	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.35%	17.27%	-2.92%
Volatility (6M) Calculated over the trailing 6-month period	25.50%	34.58%	-9.08%
Volatility (1Y) Calculated over the trailing 1-year period	32.48%	42.75%	-10.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.09%	42.44%	+25.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	69.37%	38.72%	+30.65%

Dividends

PDD vs. ASML - Dividend Comparison

PDD has not paid dividends to shareholders, while ASML's dividend yield for the trailing twelve months is around 0.47%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASML ASML Holding N.V.	0.47%	0.97%	0.97%	0.86%	1.27%	0.50%	0.50%	1.40%	0.94%	0.64%	0.92%	0.73%
PDD Pinduoduo Inc.	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

PDD vs. ASML - Profitability Comparison

The chart below illustrates the profitability comparison between Pinduoduo Inc. and ASML Holding N.V. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PDD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Pinduoduo Inc. reported a gross profit of 58.98B and revenue of 105.59B. Therefore, the gross margin over that period was 55.9%.

ASML - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, ASML Holding N.V. reported a gross profit of 4.65B and revenue of 8.77B. Therefore, the gross margin over that period was 53.0%.

PDD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Pinduoduo Inc. reported an operating income of 21.02B and revenue of 105.59B, resulting in an operating margin of 19.9%.

ASML - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, ASML Holding N.V. reported an operating income of 3.16B and revenue of 8.77B, resulting in an operating margin of 36.0%.

PDD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Pinduoduo Inc. reported a net income of 12.47B and revenue of 105.59B, resulting in a net margin of 11.8%.

ASML - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, ASML Holding N.V. reported a net income of 2.76B and revenue of 8.77B, resulting in a net margin of 31.4%.

Frequently Asked Questions

Can I hold both PDD and ASML in my portfolio?

PDD and ASML have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PDD or ASML?

ASML has higher volatility (17.27%) compared to PDD (14.35%). In terms of maximum drawdown, PDD dropped -87.41% vs ASML's -90.00%.

Which has better risk-adjusted returns?

ASML currently has the higher Sharpe Ratio (3.27 vs -0.65), 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.