TSM vs. RGLD
TSM (Taiwan Semiconductor Manufacturing Company Limited) and RGLD (Royal Gold, Inc.) are both stocks. TSM operates in Semiconductors (Technology), while RGLD operates in Gold (Basic Materials). Over the past 10 years, TSM returned 33.46%/yr vs 10.07%/yr for RGLD. Their 0.11 correlation means their historical movements had little consistent relationship.
Performance
TSM vs. RGLD - Performance Comparison
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Returns By Period
In the year-to-date period, TSM achieves a 33.71% return, which is significantly higher than RGLD's -10.20% return. Over the past 10 years, TSM has outperformed RGLD with an annualized return of 33.46%, while RGLD has yielded a comparatively lower 10.07% annualized return.
TSM
- 1D
- 0.23%
- 1M
- -9.00%
- 6M
- 22.92%
- YTD
- 33.71%
- 1Y
- 69.13%
- 3Y*
- 62.43%
- 5Y*
- 30.32%
- 10Y*
- 33.46%
- ALL TIME*
- 16.20%
RGLD
- 1D
- -2.31%
- 1M
- 0.02%
- 6M
- -24.35%
- YTD
- -10.20%
- 1Y
- 32.12%
- 3Y*
- 21.00%
- 5Y*
- 11.59%
- 10Y*
- 10.07%
- ALL TIME*
- 16.03%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
RGLD Royal Gold, Inc. | $133.30M | $134.04M | $155.03M |
| $6.03B | $6.30B | $6.05B |
TSM vs. RGLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSM Taiwan Semiconductor Manufacturing Company Limited | 33.71% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -3.50% | 41.46% |
RGLD Royal Gold, Inc. | -10.20% | 70.43% | 10.39% | 8.70% | 8.51% | 0.04% | -12.13% | 44.27% | 5.53% | 31.32% |
Correlation
The correlation between TSM and RGLD is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.14 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 1997 | 0.11 |
The correlation between TSM and RGLD shifts across timeframes, from 0.11 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
TSM:
$2.10T
RGLD:
$16.83B
TSM:
NT$432.27
RGLD:
$8.21
TSM:
30.30
RGLD:
24.15
TSM:
0.84
RGLD:
1.64
TSM:
15.26
RGLD:
11.72
TSM:
10.56
RGLD:
2.27
TSM:
NT$4.45T
RGLD:
$1.31B
TSM:
NT$2.86T
RGLD:
$579.68M
TSM:
NT$3.20T
RGLD:
$949.59M
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Return for Risk
TSM vs. RGLD — Risk / Return Rank
TSM
RGLD
TSM vs. RGLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Taiwan Semiconductor Manufacturing Company Limited (TSM) and Royal Gold, Inc. (RGLD). 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 | RGLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.16 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 0.85 | +2.38 |
| Martin ratioReturn relative to average drawdown | 10.80 | 1.84 | +8.96 |
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Drawdowns
TSM vs. RGLD - Drawdown Comparison
The maximum TSM drawdown since its inception was -89.08%, smaller than the maximum RGLD drawdown of -98.29%. Use the drawdown chart below to compare losses from any high point for TSM and RGLD.
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Drawdown Indicators
| TSM | RGLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.08% | -98.29% | +9.21% |
Max Drawdown (1Y)Largest decline over 1 year | -21.55% | -38.17% | +16.62% |
Max Drawdown (3Y)Largest decline over 3 years | -36.82% | -38.17% | +1.35% |
Max Drawdown (5Y)Largest decline over 5 years | -56.47% | -40.73% | -15.74% |
Max Drawdown (10Y)Largest decline over 10 years | -56.47% | -49.55% | -6.92% |
Current DrawdownCurrent decline from peak | -15.35% | -34.54% | +19.19% |
Average DrawdownAverage peak-to-trough decline | -42.69% | -29.83% | -12.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.43% | 17.52% | -11.09% |
Volatility
TSM vs. RGLD - Volatility Comparison
Taiwan Semiconductor Manufacturing Company Limited (TSM) has a higher volatility of 13.76% compared to Royal Gold, Inc. (RGLD) at 9.95%. This indicates that TSM's price experiences larger fluctuations and is considered to be riskier than RGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSM | RGLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.76% | 9.95% | +3.81% |
Volatility (6M)Calculated over the trailing 6-month period | 33.07% | 31.80% | +1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.75% | 39.83% | +0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.35% | 31.81% | +6.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.75% | 33.63% | +1.12% |
Dividends
TSM vs. RGLD - Dividend Comparison
TSM's dividend yield for the trailing twelve months is around 0.87%, less than RGLD's 0.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RGLD Royal Gold, Inc. | 0.95% | 0.81% | 1.21% | 1.24% | 1.24% | 1.14% | 1.05% | 0.87% | 1.17% | 1.17% | 1.45% | 1.81% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 0.87% | 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. RGLD - Financials Comparison
This section allows you to compare key financial metrics between Taiwan Semiconductor Manufacturing Company Limited and Royal Gold, Inc.. 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. RGLD - Profitability Comparison
TSM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Taiwan Semiconductor Manufacturing Company Limited reported a gross profit of 860.31B and revenue of 1.27T. Therefore, the gross margin over that period was 67.7%.
RGLD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Royal Gold, Inc. reported a gross profit of 0.00 and revenue of 469.13M. 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 Aug 2026, Taiwan Semiconductor Manufacturing Company Limited reported an operating income of 766.60B and revenue of 1.27T, resulting in an operating margin of 60.3%.
RGLD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Royal Gold, Inc. reported an operating income of 297.09M and revenue of 469.13M, resulting in an operating margin of 63.3%.
TSM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Taiwan Semiconductor Manufacturing Company Limited reported a net income of 706.56B and revenue of 1.27T, resulting in a net margin of 55.6%.
RGLD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Royal Gold, Inc. reported a net income of 281.13M and revenue of 469.13M, resulting in a net margin of 59.9%.
Frequently Asked Questions
TSM and RGLD have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSM has higher volatility (13.76%) compared to RGLD (9.95%). In terms of maximum drawdown, TSM dropped -89.08% vs RGLD's -98.29%.
TSM currently has the higher Sharpe Ratio (1.71 vs 0.81), 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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