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 14.71%/yr vs 29.92%/yr for TSM. At a 0.30 correlation, their price movements are largely independent.
Performance
SPOT vs. TSM - Performance Comparison
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Returns By Period
In the year-to-date period, SPOT achieves a -15.22% return, which is significantly lower than TSM's 33.07% return.
SPOT
- 1D
- 2.97%
- 1M
- 5.18%
- 6M
- -2.41%
- YTD
- -15.22%
- 1Y
- -29.21%
- 3Y*
- 42.06%
- 5Y*
- 14.71%
- 10Y*
- —
- ALL TIME*
- 14.01%
TSM
- 1D
- 0.99%
- 1M
- -12.94%
- 6M
- 18.10%
- YTD
- 33.07%
- 1Y
- 69.17%
- 3Y*
- 62.80%
- 5Y*
- 29.92%
- 10Y*
- 33.60%
- ALL TIME*
- 16.19%
SPOT vs. TSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPOT Spotify Technology S.A. | -15.22% | 29.80% | 138.08% | 138.01% | -66.27% | -25.62% | 110.40% | 31.76% | -31.59% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 33.07% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -9.98% |
Correlation
The correlation between SPOT and TSM is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Apr 3, 2018 | 0.30 |
Over the past year, the correlation between SPOT and TSM has dropped to 0.07 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.
Fundamentals
SPOT:
$101.23B
TSM:
$2.09T
SPOT:
€12.84
TSM:
NT$432.27
SPOT:
33.53
TSM:
30.13
SPOT:
0.37
TSM:
0.84
SPOT:
5.18
TSM:
15.18
SPOT:
11.24
TSM:
10.50
SPOT:
€17.60B
TSM:
NT$4.45T
SPOT:
€5.68B
TSM:
NT$2.86T
SPOT:
€2.75B
TSM:
NT$3.20T
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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.
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.
| SPOT | TSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.42 | ||
| Sortino ratioReturn per unit of downside risk | -3.12 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.29 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | 3.83 | -4.50 |
| Martin ratioReturn relative to average drawdown | -1.10 | 12.06 | -13.16 |
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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.
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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 | -44.11% | -18.14% | -25.97% |
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 | -36.55% | -15.76% | -20.79% |
Average DrawdownAverage peak-to-trough decline | -30.96% | -42.73% | +11.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.55% | 5.76% | +20.79% |
Volatility
SPOT vs. TSM - Volatility Comparison
The current volatility for Spotify Technology S.A. (SPOT) is 8.93%, while Taiwan Semiconductor Manufacturing Company Limited (TSM) has a volatility of 16.57%. This indicates that SPOT experiences smaller price fluctuations and is considered to be less risky than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPOT | TSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.93% | 16.57% | -7.64% |
Volatility (6M)Calculated over the trailing 6-month period | 37.30% | 31.69% | +5.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.99% | 39.45% | +5.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.60% | 38.06% | +9.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.21% | 34.60% | +12.61% |
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 0.88%.
| 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 | 0.88% | 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 Jul 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 Jul 2026, Taiwan Semiconductor Manufacturing Company Limited reported a gross profit of 860.31B and revenue of 1.27T. Therefore, the gross margin over that period was 67.7%.
SPOT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 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 Jul 2026, Taiwan Semiconductor Manufacturing Company Limited reported an operating income of 766.60B and revenue of 1.27T, resulting in an operating margin of 60.3%.
SPOT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 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 Jul 2026, Taiwan Semiconductor Manufacturing Company Limited reported a net income of 706.56B and revenue of 1.27T, resulting in a net margin of 55.6%.
Frequently Asked Questions
SPOT and TSM have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSM has higher volatility (16.57%) compared to SPOT (8.93%). In terms of maximum drawdown, SPOT dropped -80.51% vs TSM's -89.08%.
TSM currently has the higher Sharpe Ratio (1.77 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.
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