TSM vs. IGV
TSM (Taiwan Semiconductor Manufacturing Company Limited) is a stock, while IGV (iShares Expanded Tech-Software Sector ETF) is Technology Equities fund tracking the S&P North American Expanded Technology Software Index. Over the past 10 years, TSM returned 33.60%/yr vs 15.60%/yr for IGV. A 0.55 correlation means they provide meaningful diversification when combined.
Performance
TSM vs. IGV - Performance Comparison
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Returns By Period
In the year-to-date period, TSM achieves a 33.07% return, which is significantly higher than IGV's -12.01% return. Over the past 10 years, TSM has outperformed IGV with an annualized return of 33.60%, while IGV has yielded a comparatively lower 15.60% annualized return.
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%
IGV
- 1D
- 0.19%
- 1M
- 4.37%
- 6M
- -5.40%
- YTD
- -12.01%
- 1Y
- -16.26%
- 3Y*
- 9.01%
- 5Y*
- 3.20%
- 10Y*
- 15.60%
- ALL TIME*
- 9.30%
TSM vs. IGV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSM Taiwan Semiconductor Manufacturing Company Limited | 33.07% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -3.50% | 41.46% |
IGV iShares Expanded Tech-Software Sector ETF | -12.01% | 5.56% | 23.41% | 58.56% | -35.65% | 12.30% | 52.86% | 34.33% | 12.44% | 42.16% |
Correlation
The correlation between TSM and IGV is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2001 | 0.55 |
Over the past year, the correlation between TSM and IGV has dropped to 0.26 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.
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Return for Risk
TSM vs. IGV — Risk / Return Rank
TSM
IGV
TSM vs. IGV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Taiwan Semiconductor Manufacturing Company Limited (TSM) and iShares Expanded Tech-Software Sector ETF (IGV). 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 | IGV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.34 | ||
| Sortino ratioReturn per unit of downside risk | +3.01 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 0.92 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 3.83 | -0.45 | +4.28 |
| Martin ratioReturn relative to average drawdown | 12.06 | -0.86 | +12.92 |
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Drawdowns
TSM vs. IGV - Drawdown Comparison
The maximum TSM drawdown since its inception was -89.08%, which is greater than IGV's maximum drawdown of -63.45%. Use the drawdown chart below to compare losses from any high point for TSM and IGV.
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Drawdown Indicators
| TSM | IGV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.08% | -63.45% | -25.63% |
Max Drawdown (1Y)Largest decline over 1 year | -18.14% | -36.61% | +18.47% |
Max Drawdown (3Y)Largest decline over 3 years | -36.82% | -36.61% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -56.47% | -45.85% | -10.62% |
Max Drawdown (10Y)Largest decline over 10 years | -56.47% | -45.85% | -10.62% |
Current DrawdownCurrent decline from peak | -15.76% | -21.05% | +5.29% |
Average DrawdownAverage peak-to-trough decline | -42.73% | -14.48% | -28.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.76% | 18.89% | -13.13% |
Volatility
TSM vs. IGV - Volatility Comparison
Taiwan Semiconductor Manufacturing Company Limited (TSM) has a higher volatility of 16.57% compared to iShares Expanded Tech-Software Sector ETF (IGV) at 7.17%. This indicates that TSM's price experiences larger fluctuations and is considered to be riskier than IGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSM | IGV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.57% | 7.17% | +9.40% |
Volatility (6M)Calculated over the trailing 6-month period | 31.69% | 25.18% | +6.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.45% | 28.69% | +10.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.06% | 28.08% | +9.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.60% | 26.41% | +8.19% |
Dividends
TSM vs. IGV - Dividend Comparison
TSM's dividend yield for the trailing twelve months is around 0.88%, more than IGV's 0.02% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IGV iShares Expanded Tech-Software Sector ETF | 0.02% | 0.00% | 0.00% | 0.01% | 0.01% | 0.00% | 0.35% | 0.02% | 0.16% | 0.09% | 0.82% | 0.22% |
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% |
Frequently Asked Questions
TSM and IGV have a correlation of 0.26, 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 IGV (7.17%). In terms of maximum drawdown, TSM dropped -89.08% vs IGV's -63.45%.
TSM currently has the higher Sharpe Ratio (1.77 vs -0.57), 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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