TSM vs. SLV
TSM (Taiwan Semiconductor Manufacturing Company Limited) is a stock, while SLV (iShares Silver Trust) is Silver fund tracking the LBMA Silver Price. Over the past 10 years, TSM returned 35.71%/yr vs 14.08%/yr for SLV. At a 0.16 correlation, their price movements are largely independent.
Performance
TSM vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, TSM achieves a 40.84% return, which is significantly higher than SLV's -4.41% return. Over the past 10 years, TSM has outperformed SLV with an annualized return of 35.71%, while SLV has yielded a comparatively lower 14.08% 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%
SLV
- 1D
- 0.02%
- 1M
- -15.66%
- YTD
- -4.41%
- 6M
- 16.83%
- 1Y
- 88.38%
- 3Y*
- 40.36%
- 5Y*
- 19.02%
- 10Y*
- 14.08%
TSM vs. SLV - 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% |
SLV iShares Silver Trust | -4.41% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between TSM and SLV is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2006 | 0.16 |
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Return for Risk
TSM vs. SLV — Risk / Return Rank
TSM
SLV
TSM vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Taiwan Semiconductor Manufacturing Company Limited (TSM) and iShares Silver Trust (SLV). 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 | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.56 | ||
| Sortino ratioReturn per unit of downside risk | +1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.30 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 6.13 | 2.09 | +4.03 |
| Martin ratioReturn relative to average drawdown | 21.94 | 4.40 | +17.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TSM | SLV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.06 | 1.50 | +1.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | 0.53 | +0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.05 | 0.44 | +0.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.23 | +0.13 |
Drawdowns
TSM vs. SLV - Drawdown Comparison
The maximum TSM drawdown since its inception was -89.08%, which is greater than SLV's maximum drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for TSM and SLV.
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Drawdown Indicators
| TSM | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.08% | -76.28% | -12.80% |
Max Drawdown (1Y)Largest decline over 1 year | -18.14% | -42.45% | +24.31% |
Max Drawdown (3Y)Largest decline over 3 years | -36.82% | -42.45% | +5.63% |
Max Drawdown (5Y)Largest decline over 5 years | -56.47% | -42.45% | -14.02% |
Max Drawdown (10Y)Largest decline over 10 years | -56.47% | -42.81% | -13.66% |
Current DrawdownCurrent decline from peak | -4.45% | -41.69% | +37.24% |
Average DrawdownAverage peak-to-trough decline | -42.87% | -44.67% | +1.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.06% | 20.15% | -15.09% |
Volatility
TSM vs. SLV - Volatility Comparison
The current volatility for Taiwan Semiconductor Manufacturing Company Limited (TSM) is 12.47%, while iShares Silver Trust (SLV) has a volatility of 16.89%. This indicates that TSM experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSM | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.47% | 16.89% | -4.42% |
Volatility (6M)Calculated over the trailing 6-month period | 28.23% | 58.88% | -30.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.40% | 59.53% | -23.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.40% | 36.33% | +1.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.20% | 31.92% | +2.28% |
Dividends
TSM vs. SLV - Dividend Comparison
TSM's dividend yield for the trailing twelve months is around 0.78%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SLV iShares Silver Trust | 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% |
Frequently Asked Questions
TSM and SLV have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (16.89%) compared to TSM (12.47%). In terms of maximum drawdown, TSM dropped -89.08% vs SLV's -76.28%.
TSM currently has the higher Sharpe Ratio (3.06 vs 1.50), 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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