TSM vs. ETN
TSM (Taiwan Semiconductor Manufacturing Company Limited) and ETN (Eaton Corporation plc) are both stocks. TSM operates in Semiconductors (Technology), while ETN operates in Specialty Industrial Machinery (Industrials). Over the past 10 years, TSM returned 35.71%/yr vs 23.50%/yr for ETN. At a 0.41 correlation, their price movements are largely independent.
Performance
TSM vs. ETN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TSM achieves a 40.84% return, which is significantly higher than ETN's 27.32% return. Over the past 10 years, TSM has outperformed ETN with an annualized return of 35.71%, while ETN has yielded a comparatively lower 23.50% annualized return.
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%
ETN
- 1D
- 1.82%
- 1M
- 0.41%
- YTD
- 27.32%
- 6M
- 18.09%
- 1Y
- 23.03%
- 3Y*
- 30.80%
- 5Y*
- 24.42%
- 10Y*
- 23.50%
TSM vs. ETN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSM Taiwan Semiconductor Manufacturing Company Limited | 40.84% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -3.50% | 41.46% |
ETN Eaton Corporation plc | 27.32% | -2.79% | 39.51% | 56.22% | -7.18% | 46.70% | 29.88% | 42.76% | -10.04% | 21.54% |
Correlation
The correlation between TSM and ETN is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 1997 | 0.41 |
The correlation between TSM and ETN shifts across timeframes, from 0.41 (all time) to 0.59 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
TSM:
$2.21T
ETN:
$156.90B
TSM:
$373.98
ETN:
$10.22
TSM:
1.14
ETN:
39.43
TSM:
0.03
ETN:
2.14
TSM:
0.54
ETN:
5.52
TSM:
0.38
ETN:
7.94
TSM:
$4.13T
ETN:
$28.52B
TSM:
$2.55T
ETN:
$7.87B
TSM:
$3.14T
ETN:
$4.75B
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
TSM vs. ETN — Risk / Return Rank
TSM
ETN
TSM vs. ETN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Taiwan Semiconductor Manufacturing Company Limited (TSM) and Eaton Corporation plc (ETN). 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.
| TSM | ETN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.35 | ||
| Sortino ratioReturn per unit of downside risk | +2.47 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.14 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 6.13 | 1.21 | +4.92 |
| Martin ratioReturn relative to average drawdown | 21.94 | 2.63 | +19.31 |
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
| TSM | ETN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.06 | 0.71 | +2.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | 0.82 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.05 | 0.79 | +0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.42 | -0.05 |
Drawdowns
TSM vs. ETN - Drawdown Comparison
The maximum TSM drawdown since its inception was -89.08%, which is greater than ETN's maximum drawdown of -68.95%. Use the drawdown chart below to compare losses from any high point for TSM and ETN.
Loading charts...
Drawdown Indicators
| TSM | ETN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.08% | -68.95% | -20.13% |
Max Drawdown (1Y)Largest decline over 1 year | -18.14% | -19.14% | +1.00% |
Max Drawdown (3Y)Largest decline over 3 years | -36.82% | -34.46% | -2.36% |
Max Drawdown (5Y)Largest decline over 5 years | -56.47% | -34.46% | -22.01% |
Max Drawdown (10Y)Largest decline over 10 years | -56.47% | -44.55% | -11.92% |
Current DrawdownCurrent decline from peak | -4.45% | -6.64% | +2.19% |
Average DrawdownAverage peak-to-trough decline | -42.87% | -14.90% | -27.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.06% | 8.78% | -3.72% |
Volatility
TSM vs. ETN - Volatility Comparison
Taiwan Semiconductor Manufacturing Company Limited (TSM) and Eaton Corporation plc (ETN) have volatilities of 12.47% and 12.39%, 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.
Loading charts...
Volatility by Period
| TSM | ETN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.47% | 12.39% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 28.23% | 25.71% | +2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.40% | 32.58% | +3.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.40% | 30.03% | +7.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.20% | 30.01% | +4.19% |
Dividends
TSM vs. ETN - Dividend Comparison
TSM's dividend yield for the trailing twelve months is around 0.78%, less than ETN's 1.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETN Eaton Corporation plc | 1.06% | 1.31% | 1.13% | 1.43% | 2.06% | 1.76% | 1.88% | 3.00% | 3.85% | 3.04% | 3.40% | 4.23% |
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
TSM vs. ETN - Financials Comparison
This section allows you to compare key financial metrics between Taiwan Semiconductor Manufacturing Company Limited and Eaton Corporation plc. 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
TSM vs. ETN - Profitability Comparison
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%.
ETN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported a gross profit of 0.00 and revenue of 7.45B. Therefore, the gross margin over that period was 0.0%.
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%.
ETN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported an operating income of 0.00 and revenue of 7.45B, resulting in an operating margin of 0.0%.
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%.
ETN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported a net income of 866.00M and revenue of 7.45B, resulting in a net margin of 11.6%.
Frequently Asked Questions
TSM and ETN have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSM has higher volatility (12.47%) compared to ETN (12.39%). In terms of maximum drawdown, TSM dropped -89.08% vs ETN's -68.95%.
TSM currently has the higher Sharpe Ratio (3.06 vs 0.71), 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 TSM and ETN
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