TKC vs. VIV

Last updated Jun 3, 2026

TKC (Turkcell Iletisim Hizmetleri A.S.) and VIV (Telefônica Brasil S.A.) are both stocks. Both operate in the Telecom Services industry within the Communication Services sector. Over the past 10 years, TKC returned 0.25%/yr vs 8.81%/yr for VIV. At a 0.26 correlation, their price movements are largely independent.

Performance

TKC vs. VIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Turkcell Iletisim Hizmetleri A.S. (TKC) and Telefônica Brasil S.A. (VIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TKC achieves a 8.96% return, which is significantly lower than VIV's 19.02% return. Over the past 10 years, TKC has underperformed VIV with an annualized return of 0.25%, while VIV has yielded a comparatively higher 8.81% annualized return.

TKC

• 1D: 4.38%
• 1M: -6.14%
• YTD: 8.96%
• 6M: 5.60%
• 1Y: 4.65%
• 3Y*: 15.97%
• 5Y*: 8.86%
• 10Y*: 0.25%

VIV

• 1D: 2.27%
• 1M: -11.10%
• YTD: 19.02%
• 6M: 7.74%
• 1Y: 42.36%
• 3Y*: 24.89%
• 5Y*: 15.82%
• 10Y*: 8.81%

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

TKC vs. VIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TKC Turkcell Iletisim Hizmetleri A.S.	8.96%	-12.66%	39.58%	2.46%	38.18%	-28.03%	-4.86%	7.00%	-39.75%	66.84%
VIV Telefônica Brasil S.A.	19.02%	67.26%	-27.07%	64.86%	-13.84%	4.65%	-32.07%	27.54%	-11.53%	23.72%

Correlation

The correlation between TKC and VIV is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jul 12, 2000	0.26

The correlation between TKC and VIV shifts across timeframes, from 0.14 (3 years) to 0.26 (all time), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap TKC : $5.19B VIV : $21.55B
EPS TKC : $11.39 VIV : $3.99
PE Ratio TKC : 0.52 VIV : 3.38
PEG Ratio TKC : 0.01 VIV : 1.01
PS Ratio TKC : 0.04 VIV : 0.36
PB Ratio TKC : 0.02 VIV : 0.31
Total Revenue (TTM) TKC : $115.78B VIV : $60.61B
Gross Profit (TTM) TKC : $32.74B VIV : $25.92B
EBITDA (TTM) TKC : $54.96B VIV : $24.27B

Return for Risk

TKC vs. VIV — Risk / Return Rank

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

TKC

TKC Risk / Return Rank: 42
TKC Sharpe Ratio Rank: 46
TKC Sortino Ratio Rank: 39
TKC Omega Ratio Rank: 38
TKC Calmar Ratio Rank: 42
TKC Martin Ratio Rank: 43

VIV

VIV Risk / Return Rank: 77
VIV Sharpe Ratio Rank: 81
VIV Sortino Ratio Rank: 74
VIV Omega Ratio Rank: 73
VIV Calmar Ratio Rank: 76
VIV Martin Ratio Rank: 81

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.

TKC vs. VIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Turkcell Iletisim Hizmetleri A.S. (TKC) and Telefônica Brasil S.A. (VIV). 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.

	TKC	VIV	Difference
Sharpe ratio Return per unit of total volatility	0.16	1.48	-1.33
Sortino ratio Return per unit of downside risk	0.43	1.97	-1.54
Omega ratio Gain probability vs. loss probability	1.05	1.25	-0.20
Calmar ratio Return relative to maximum drawdown	0.09	2.26	-2.17
Martin ratio Return relative to average drawdown	0.20	6.94	-6.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TKC vs. VIV - Sharpe Ratio Comparison

The current TKC Sharpe Ratio is 0.16, which is lower than the VIV Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of TKC and VIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TKC	VIV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.16	1.48	-1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.56	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.01	0.28	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	0.14	-0.17

Drawdowns

TKC vs. VIV - Drawdown Comparison

The maximum TKC drawdown since its inception was -92.94%, which is greater than VIV's maximum drawdown of -77.73%. Use the drawdown chart below to compare losses from any high point for TKC and VIV.

Drawdown Indicators

	TKC	VIV	Difference
Max Drawdown Largest peak-to-trough decline	-92.94%	-77.73%	-15.21%
Max Drawdown (1Y) Largest decline over 1 year	-20.70%	-20.10%	-0.60%
Max Drawdown (3Y) Largest decline over 3 years	-30.32%	-30.17%	-0.15%
Max Drawdown (5Y) Largest decline over 5 years	-50.59%	-40.76%	-9.83%
Max Drawdown (10Y) Largest decline over 10 years	-72.96%	-47.57%	-25.39%
Current Drawdown Current decline from peak	-58.65%	-17.97%	-40.68%
Average Drawdown Average peak-to-trough decline	-56.67%	-32.03%	-24.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.37%	6.54%	+2.83%

Volatility

TKC vs. VIV - Volatility Comparison

Turkcell Iletisim Hizmetleri A.S. (TKC) has a higher volatility of 10.74% compared to Telefônica Brasil S.A. (VIV) at 9.99%. This indicates that TKC's price experiences larger fluctuations and is considered to be riskier than VIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TKC	VIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.74%	9.99%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	20.19%	23.75%	-3.56%
Volatility (1Y) Calculated over the trailing 1-year period	29.74%	28.76%	+0.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.14%	28.54%	+9.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.34%	31.22%	+6.12%

Dividends

TKC vs. VIV - Dividend Comparison

TKC's dividend yield for the trailing twelve months is around 3.70%, less than VIV's 6.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TKC Turkcell Iletisim Hizmetleri A.S.	3.70%	4.03%	3.14%	1.98%	1.72%	9.59%	2.19%	3.48%	8.57%	10.52%	0.00%	16.91%
VIV Telefônica Brasil S.A.	6.76%	5.25%	6.60%	5.55%	5.86%	6.44%	10.22%	5.25%	9.20%	10.87%	4.09%	10.07%

Financials

TKC vs. VIV - Profitability Comparison

The chart below illustrates the profitability comparison between Turkcell Iletisim Hizmetleri A.S. and Telefônica Brasil S.A. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

TKC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Turkcell Iletisim Hizmetleri A.S. reported a gross profit of 419.05M and revenue of 1.56B. Therefore, the gross margin over that period was 26.8%.

VIV - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Telefônica Brasil S.A. reported a gross profit of 6.17B and revenue of 15.17B. Therefore, the gross margin over that period was 40.7%.

TKC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Turkcell Iletisim Hizmetleri A.S. reported an operating income of 238.78M and revenue of 1.56B, resulting in an operating margin of 15.3%.

VIV - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Telefônica Brasil S.A. reported an operating income of 2.24B and revenue of 15.17B, resulting in an operating margin of 14.8%.

TKC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Turkcell Iletisim Hizmetleri A.S. reported a net income of 106.00M and revenue of 1.56B, resulting in a net margin of 6.8%.

VIV - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Telefônica Brasil S.A. reported a net income of 1.24B and revenue of 15.17B, resulting in a net margin of 8.2%.

Frequently Asked Questions

Can I hold both TKC and VIV in my portfolio?

TKC and VIV have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TKC or VIV?

TKC has higher volatility (10.74%) compared to VIV (9.99%). In terms of maximum drawdown, TKC dropped -92.94% vs VIV's -77.73%.

Which has better risk-adjusted returns?

VIV currently has the higher Sharpe Ratio (1.48 vs 0.16), 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.