TSM vs. HDV
TSM (Taiwan Semiconductor Manufacturing Company Limited) is a stock, while HDV (iShares Core High Dividend ETF) is Dividend fund tracking the Morningstar Dividend Yield Focus Index. Over the past 10 years, TSM returned 36.14%/yr vs 9.45%/yr for HDV. At a 0.34 correlation, their price movements are largely independent.
Performance
TSM vs. HDV - Performance Comparison
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Returns By Period
In the year-to-date period, TSM achieves a 44.34% return, which is significantly higher than HDV's 14.07% return. Over the past 10 years, TSM has outperformed HDV with an annualized return of 36.14%, while HDV has yielded a comparatively lower 9.45% annualized return.
TSM
- 1D
- -6.69%
- 1M
- 8.13%
- YTD
- 44.34%
- 6M
- 47.71%
- 1Y
- 109.75%
- 3Y*
- 64.69%
- 5Y*
- 32.19%
- 10Y*
- 36.14%
HDV
- 1D
- 1.33%
- 1M
- -1.35%
- YTD
- 14.07%
- 6M
- 14.08%
- 1Y
- 21.06%
- 3Y*
- 15.48%
- 5Y*
- 11.09%
- 10Y*
- 9.45%
TSM vs. HDV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSM Taiwan Semiconductor Manufacturing Company Limited | 44.34% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -3.50% | 41.46% |
HDV iShares Core High Dividend ETF | 14.07% | 11.90% | 14.16% | 1.72% | 7.05% | 19.45% | -6.48% | 20.22% | -3.01% | 13.40% |
Correlation
The correlation between TSM and HDV is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2011 | 0.34 |
The correlation between TSM and HDV shifts across timeframes, from -0.12 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TSM vs. HDV — Risk / Return Rank
TSM
HDV
TSM vs. HDV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Taiwan Semiconductor Manufacturing Company Limited (TSM) and iShares Core High Dividend ETF (HDV). 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.
| TSM | HDV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.36 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 6.08 | 4.09 | +2.00 |
| Martin ratioReturn relative to average drawdown | 21.46 | 11.19 | +10.27 |
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Drawdowns
TSM vs. HDV - Drawdown Comparison
The maximum TSM drawdown since its inception was -89.08%, which is greater than HDV's maximum drawdown of -37.04%. Use the drawdown chart below to compare losses from any high point for TSM and HDV.
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Drawdown Indicators
| TSM | HDV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.08% | -37.04% | -52.04% |
Max Drawdown (1Y)Largest decline over 1 year | -18.14% | -5.18% | -12.96% |
Max Drawdown (3Y)Largest decline over 3 years | -36.82% | -10.49% | -26.33% |
Max Drawdown (5Y)Largest decline over 5 years | -56.47% | -15.42% | -41.05% |
Max Drawdown (10Y)Largest decline over 10 years | -56.47% | -37.04% | -19.43% |
Current DrawdownCurrent decline from peak | -6.69% | -1.35% | -5.34% |
Average DrawdownAverage peak-to-trough decline | -42.81% | -3.08% | -39.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.13% | 1.89% | +3.24% |
Volatility
TSM vs. HDV - Volatility Comparison
Taiwan Semiconductor Manufacturing Company Limited (TSM) has a higher volatility of 16.35% compared to iShares Core High Dividend ETF (HDV) at 3.64%. This indicates that TSM's price experiences larger fluctuations and is considered to be riskier than HDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSM | HDV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.35% | 3.64% | +12.71% |
Volatility (6M)Calculated over the trailing 6-month period | 29.96% | 7.61% | +22.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.15% | 9.93% | +28.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.77% | 12.81% | +24.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.39% | 15.73% | +18.66% |
Dividends
TSM vs. HDV - Dividend Comparison
TSM's dividend yield for the trailing twelve months is around 0.81%, less than HDV's 2.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDV iShares Core High Dividend ETF | 2.90% | 3.22% | 3.67% | 3.82% | 3.56% | 3.47% | 4.07% | 3.27% | 3.67% | 3.27% | 3.28% | 3.92% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 0.81% | 1.00% | 1.18% | 1.78% | 2.49% | 1.57% | 1.56% | 3.46% | 3.64% | 2.32% | 2.61% | 2.54% |
Frequently Asked Questions
TSM and HDV have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSM has higher volatility (16.35%) compared to HDV (3.64%). In terms of maximum drawdown, TSM dropped -89.08% vs HDV's -37.04%.
TSM currently has the higher Sharpe Ratio (2.89 vs 2.13), 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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