TSM vs. IESC

Last updated Jun 9, 2026

TSM (Taiwan Semiconductor Manufacturing Company Limited) and IESC (IES Holdings, Inc.) are both stocks. TSM operates in Semiconductors (Technology), while IESC operates in Engineering & Construction (Industrials). Over the past 10 years, TSM returned 35.71%/yr vs 48.95%/yr for IESC. At a 0.24 correlation, their price movements are largely independent.

Performance

TSM vs. IESC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Taiwan Semiconductor Manufacturing Company Limited (TSM) and IES Holdings, Inc. (IESC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSM achieves a 40.84% return, which is significantly lower than IESC's 88.91% return. Over the past 10 years, TSM has underperformed IESC with an annualized return of 35.71%, while IESC has yielded a comparatively higher 48.95% 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%

IESC

• 1D: 1.97%
• 1M: 10.23%
• YTD: 88.91%
• 6M: 66.06%
• 1Y: 162.49%
• 3Y*: 140.27%
• 5Y*: 69.06%
• 10Y*: 48.95%

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

TSM vs. IESC - 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%
IESC IES Holdings, Inc.	88.91%	93.58%	153.67%	122.72%	-29.76%	9.99%	79.42%	65.02%	-9.86%	-9.92%

Correlation

The correlation between TSM and IESC is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jan 28, 1998	0.24

Over the past year, TSM and IESC have become more correlated (0.52) than their long-term average of 0.24, meaning their price movements have been converging.

Fundamentals

Market Cap TSM : $2.21T IESC : $14.83B
EPS TSM : $373.98 IESC : $18.85
PE Ratio TSM : 1.14 IESC : 38.98
PEG Ratio TSM : 0.03 IESC : 0.47
PS Ratio TSM : 0.54 IESC : 4.08
PB Ratio TSM : 0.38 IESC : 13.83
Total Revenue (TTM) TSM : $4.13T IESC : $3.63B
Gross Profit (TTM) TSM : $2.55T IESC : $931.31M
EBITDA (TTM) TSM : $3.14T IESC : $487.14M

Return for Risk

TSM vs. IESC — Risk / Return Rank

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

TSM

TSM Risk / Return Rank: 94
TSM Sharpe Ratio Rank: 95
TSM Sortino Ratio Rank: 94
TSM Omega Ratio Rank: 91
TSM Calmar Ratio Rank: 94
TSM Martin Ratio Rank: 96

IESC

IESC Risk / Return Rank: 92
IESC Sharpe Ratio Rank: 94
IESC Sortino Ratio Rank: 88
IESC Omega Ratio Rank: 88
IESC Calmar Ratio Rank: 96
IESC Martin Ratio Rank: 96

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.

TSM vs. IESC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Taiwan Semiconductor Manufacturing Company Limited (TSM) and IES Holdings, Inc. (IESC). 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	IESC	Difference
Sharpe ratio: Return per unit of total volatility	3.06	2.64	+0.42
Sortino ratio: Return per unit of downside risk	3.62	2.84	+0.78
Omega ratio: Gain probability vs. loss probability	1.44	1.39	+0.06
Calmar ratio: Return relative to maximum drawdown	6.13	7.50	-1.37
Martin ratio: Return relative to average drawdown	21.94	21.33	+0.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSM vs. IESC - Sharpe Ratio Comparison

The current TSM Sharpe Ratio is 3.06, which is comparable to the IESC Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of TSM and IESC, 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

	TSM	IESC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.06	2.64	+0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	1.29	-0.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.05	1.02	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.05	+0.31

Drawdowns

TSM vs. IESC - Drawdown Comparison

The maximum TSM drawdown since its inception was -89.08%, smaller than the maximum IESC drawdown of -98.32%. Use the drawdown chart below to compare losses from any high point for TSM and IESC.

Drawdown Indicators

	TSM	IESC	Difference
Max Drawdown Largest peak-to-trough decline	-89.08%	-98.32%	+9.24%
Max Drawdown (1Y) Largest decline over 1 year	-18.14%	-21.80%	+3.66%
Max Drawdown (3Y) Largest decline over 3 years	-36.82%	-49.23%	+12.41%
Max Drawdown (5Y) Largest decline over 5 years	-56.47%	-54.22%	-2.25%
Max Drawdown (10Y) Largest decline over 10 years	-56.47%	-54.28%	-2.19%
Current Drawdown Current decline from peak	-4.45%	-0.97%	-3.48%
Average Drawdown Average peak-to-trough decline	-42.87%	-55.01%	+12.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.06%	7.66%	-2.60%

Volatility

TSM vs. IESC - Volatility Comparison

Taiwan Semiconductor Manufacturing Company Limited (TSM) has a higher volatility of 12.47% compared to IES Holdings, Inc. (IESC) at 11.77%. This indicates that TSM's price experiences larger fluctuations and is considered to be riskier than IESC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSM	IESC	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.47%	11.77%	+0.70%
Volatility (6M) Calculated over the trailing 6-month period	28.23%	49.79%	-21.56%
Volatility (1Y) Calculated over the trailing 1-year period	36.40%	62.06%	-25.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.40%	53.94%	-16.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.20%	48.10%	-13.90%

Dividends

TSM vs. IESC - Dividend Comparison

TSM's dividend yield for the trailing twelve months is around 0.78%, while IESC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IESC IES Holdings, Inc.	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

TSM vs. IESC - Profitability Comparison

The chart below illustrates the profitability comparison between Taiwan Semiconductor Manufacturing Company Limited and IES Holdings, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

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%.

IESC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, IES Holdings, Inc. reported a gross profit of 238.70M and revenue of 974.20M. Therefore, the gross margin over that period was 24.5%.

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%.

IESC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, IES Holdings, Inc. reported an operating income of 112.30M and revenue of 974.20M, resulting in an operating margin of 11.5%.

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%.

IESC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, IES Holdings, Inc. reported a net income of 110.00M and revenue of 974.20M, resulting in a net margin of 11.3%.

Frequently Asked Questions

Can I hold both TSM and IESC in my portfolio?

TSM and IESC have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSM or IESC?

TSM has higher volatility (12.47%) compared to IESC (11.77%). In terms of maximum drawdown, TSM dropped -89.08% vs IESC's -98.32%.

Which has better risk-adjusted returns?

TSM currently has the higher Sharpe Ratio (3.06 vs 2.64), 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.