SPOT vs. TSM
SPOT (Spotify Technology S.A.) and TSM (Taiwan Semiconductor Manufacturing Company Limited) are both stocks. SPOT operates in Internet Content & Information (Communication Services), while TSM operates in Semiconductors (Technology). Over the past 5 years, SPOT returned 16.18%/yr vs 31.67%/yr for TSM. At a 0.31 correlation, their price movements are largely independent.
Performance
SPOT vs. TSM - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPOT achieves a -13.36% return, which is significantly lower than TSM's 40.84% return.
SPOT
- 1D
- 1.24%
- 1M
- 20.42%
- YTD
- -13.36%
- 6M
- -12.09%
- 1Y
- -29.36%
- 3Y*
- 49.53%
- 5Y*
- 16.18%
- 10Y*
- —
TSM
- 1D
- 2.80%
- 1M
- 3.67%
- YTD
- 40.84%
- 6M
- 42.15%
- 1Y
- 110.53%
- 3Y*
- 63.10%
- 5Y*
- 31.67%
- 10Y*
- 35.71%
SPOT vs. TSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPOT Spotify Technology S.A. | -13.36% | 29.80% | 138.08% | 138.01% | -66.27% | -25.62% | 110.40% | 31.76% | -23.83% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 40.84% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -12.00% |
Correlation
The correlation between SPOT and TSM is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2018 | 0.31 |
The correlation between SPOT and TSM shifts across timeframes, from 0.11 (1 year) to 0.33 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
SPOT:
$105.30B
TSM:
$2.21T
SPOT:
$12.94
TSM:
$373.98
SPOT:
38.89
TSM:
1.14
SPOT:
0.43
TSM:
0.03
SPOT:
6.01
TSM:
0.54
SPOT:
13.13
TSM:
0.38
SPOT:
$17.60B
TSM:
$4.13T
SPOT:
$5.68B
TSM:
$2.55T
SPOT:
$2.75B
TSM:
$3.14T
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPOT vs. TSM — Risk / Return Rank
SPOT
TSM
SPOT vs. TSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Spotify Technology S.A. (SPOT) and Taiwan Semiconductor Manufacturing Company Limited (TSM). 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.
| SPOT | TSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.71 | ||
| Sortino ratioReturn per unit of downside risk | -4.37 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.44 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | 6.13 | -6.76 |
| Martin ratioReturn relative to average drawdown | -1.10 | 21.94 | -23.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SPOT | TSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.65 | 3.06 | -3.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.85 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.05 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.37 | -0.03 |
Drawdowns
SPOT vs. TSM - Drawdown Comparison
The maximum SPOT drawdown since its inception was -80.51%, smaller than the maximum TSM drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for SPOT and TSM.
Loading charts...
Drawdown Indicators
| SPOT | TSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.51% | -89.08% | +8.57% |
Max Drawdown (1Y)Largest decline over 1 year | -46.80% | -18.14% | -28.66% |
Max Drawdown (3Y)Largest decline over 3 years | -46.80% | -36.82% | -9.98% |
Max Drawdown (5Y)Largest decline over 5 years | -76.39% | -56.47% | -19.92% |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.47% | — |
Current DrawdownCurrent decline from peak | -35.16% | -4.45% | -30.71% |
Average DrawdownAverage peak-to-trough decline | -30.81% | -42.87% | +12.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.76% | 5.06% | +21.70% |
Volatility
SPOT vs. TSM - Volatility Comparison
Spotify Technology S.A. (SPOT) has a higher volatility of 15.97% compared to Taiwan Semiconductor Manufacturing Company Limited (TSM) at 12.47%. This indicates that SPOT's price experiences larger fluctuations and is considered to be riskier than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPOT | TSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.97% | 12.47% | +3.50% |
Volatility (6M)Calculated over the trailing 6-month period | 37.40% | 28.23% | +9.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.30% | 36.40% | +8.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.60% | 37.40% | +10.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.26% | 34.20% | +13.06% |
Dividends
SPOT vs. TSM - Dividend Comparison
SPOT has not paid dividends to shareholders, while TSM's dividend yield for the trailing twelve months is around 0.78%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPOT Spotify Technology S.A. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 0.78% | 1.00% | 1.18% | 1.78% | 2.49% | 1.57% | 1.56% | 3.46% | 3.64% | 2.32% | 2.61% | 2.54% |
Financials
SPOT vs. TSM - Financials Comparison
This section allows you to compare key financial metrics between Spotify Technology S.A. and Taiwan Semiconductor Manufacturing Company Limited. 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
SPOT vs. TSM - Profitability Comparison
SPOT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported a gross profit of 1.51B and revenue of 4.61B. Therefore, the gross margin over that period was 32.9%.
TSM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported a gross profit of 759.06B and revenue of 1.15T. Therefore, the gross margin over that period was 66.3%.
SPOT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported an operating income of 726.76M and revenue of 4.61B, resulting in an operating margin of 15.8%.
TSM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported an operating income of 664.08B and revenue of 1.15T, resulting in an operating margin of 58.0%.
SPOT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Spotify Technology S.A. reported a net income of 732.86M and revenue of 4.61B, resulting in a net margin of 15.9%.
TSM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Taiwan Semiconductor Manufacturing Company Limited reported a net income of 578.40B and revenue of 1.15T, resulting in a net margin of 50.5%.
Frequently Asked Questions
SPOT and TSM have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPOT has higher volatility (15.97%) compared to TSM (12.47%). In terms of maximum drawdown, SPOT dropped -80.51% vs TSM's -89.08%.
TSM currently has the higher Sharpe Ratio (3.06 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.
Find the right allocation for SPOT and TSM
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer