TSM vs. SPY
Compare and contrast key facts about Taiwan Semiconductor Manufacturing Company Limited (TSM) and State Street SPDR S&P 500 ETF (SPY).
SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
TSM vs. SPY - Performance Comparison
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TSM vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSM Taiwan Semiconductor Manufacturing Company Limited | 11.52% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -3.50% | 41.46% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, TSM achieves a 11.52% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, TSM has outperformed SPY with an annualized return of 32.45%, while SPY has yielded a comparatively lower 13.98% annualized return.
TSM
- 1D
- 6.78%
- 1M
- -9.52%
- YTD
- 11.52%
- 6M
- 21.66%
- 1Y
- 106.05%
- 3Y*
- 56.00%
- 5Y*
- 24.08%
- 10Y*
- 32.45%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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Return for Risk
TSM vs. SPY — Risk / Return Rank
TSM
SPY
TSM vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Taiwan Semiconductor Manufacturing Company Limited (TSM) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.76 | 0.93 | +1.84 |
Sortino ratioReturn per unit of downside risk | 3.33 | 1.45 | +1.87 |
Omega ratioGain probability vs. loss probability | 1.42 | 1.22 | +0.20 |
Calmar ratioReturn relative to maximum drawdown | 5.90 | 1.53 | +4.37 |
Martin ratioReturn relative to average drawdown | 20.02 | 7.30 | +12.73 |
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 | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.76 | 0.93 | +1.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | 0.69 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.96 | 0.78 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.56 | -0.21 |
Correlation
The correlation between TSM and SPY is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
TSM vs. SPY - Dividend Comparison
TSM's dividend yield for the trailing twelve months is around 0.98%, less than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TSM Taiwan Semiconductor Manufacturing Company Limited | 0.98% | 1.00% | 1.18% | 1.78% | 2.49% | 1.57% | 1.56% | 3.46% | 3.64% | 2.32% | 2.61% | 2.54% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
TSM vs. SPY - Drawdown Comparison
The maximum TSM drawdown since its inception was -89.08%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for TSM and SPY.
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Drawdown Indicators
| TSM | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.08% | -55.19% | -33.89% |
Max Drawdown (1Y)Largest decline over 1 year | -18.14% | -12.05% | -6.09% |
Max Drawdown (5Y)Largest decline over 5 years | -56.47% | -24.50% | -31.97% |
Max Drawdown (10Y)Largest decline over 10 years | -56.47% | -33.72% | -22.75% |
Current DrawdownCurrent decline from peak | -12.59% | -6.24% | -6.35% |
Average DrawdownAverage peak-to-trough decline | -43.13% | -9.09% | -34.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.34% | 2.52% | +2.82% |
Volatility
TSM vs. SPY - Volatility Comparison
Taiwan Semiconductor Manufacturing Company Limited (TSM) has a higher volatility of 14.44% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that TSM's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSM | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.44% | 5.31% | +9.13% |
Volatility (6M)Calculated over the trailing 6-month period | 27.19% | 9.47% | +17.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.60% | 19.05% | +19.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.99% | 17.06% | +19.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.85% | 17.92% | +15.93% |