XTEN vs. TSM

Last updated Jun 4, 2026

XTEN (BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF) is Government Bonds fund tracking the Bloomberg US Treasury 10 Year Target Duration Index, while TSM (Taiwan Semiconductor Manufacturing Company Limited) is a stock. Over the past 3 years, XTEN returned 1.73%/yr vs 66.46%/yr for TSM. At a 0.03 correlation, their price movements are largely independent.

Performance

XTEN vs. TSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) and Taiwan Semiconductor Manufacturing Company Limited (TSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XTEN achieves a -0.54% return, which is significantly lower than TSM's 44.10% return.

XTEN

• 1D: -0.35%
• 1M: 0.25%
• YTD: -0.54%
• 6M: -1.22%
• 1Y: 4.81%
• 3Y*: 1.73%
• 5Y*: —
• 10Y*: —

TSM

• 1D: -2.24%
• 1M: 8.73%
• YTD: 44.10%
• 6M: 48.60%
• 1Y: 123.66%
• 3Y*: 66.46%
• 5Y*: 31.74%
• 10Y*: 36.20%

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

XTEN vs. TSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XTEN BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF	-0.54%	7.37%	-2.15%	4.00%	-2.94%
TSM Taiwan Semiconductor Manufacturing Company Limited	44.10%	55.91%	92.58%	42.33%	-3.93%

Correlation

The correlation between XTEN and TSM is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (All Time) Calculated using the full available price history since Sep 16, 2022	0.03

Return for Risk

XTEN vs. TSM — Risk / Return Rank

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

XTEN

XTEN Risk / Return Rank: 21
XTEN Sharpe Ratio Rank: 22
XTEN Sortino Ratio Rank: 21
XTEN Omega Ratio Rank: 20
XTEN Calmar Ratio Rank: 21
XTEN Martin Ratio Rank: 21

TSM

TSM Risk / Return Rank: 95
TSM Sharpe Ratio Rank: 96
TSM Sortino Ratio Rank: 95
TSM Omega Ratio Rank: 92
TSM Calmar Ratio Rank: 94
TSM Martin Ratio Rank: 97

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.

XTEN vs. TSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) and Taiwan Semiconductor Manufacturing Company Limited (TSM). 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.

	XTEN	TSM	Difference
Sharpe ratio: Return per unit of total volatility	0.75	3.49	-2.74
Sortino ratio: Return per unit of downside risk	1.13	4.06	-2.93
Omega ratio: Gain probability vs. loss probability	1.13	1.49	-0.36
Calmar ratio: Return relative to maximum drawdown	0.89	6.86	-5.97
Martin ratio: Return relative to average drawdown	2.59	24.68	-22.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XTEN vs. TSM - Sharpe Ratio Comparison

The current XTEN Sharpe Ratio is 0.75, which is lower than the TSM Sharpe Ratio of 3.49. The chart below compares the historical Sharpe Ratios of XTEN and TSM, 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

	XTEN	TSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	3.49	-2.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.86	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.37	-0.22

Drawdowns

XTEN vs. TSM - Drawdown Comparison

The maximum XTEN drawdown since its inception was -13.86%, smaller than the maximum TSM drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for XTEN and TSM.

Drawdown Indicators

	XTEN	TSM	Difference
Max Drawdown Largest peak-to-trough decline	-13.86%	-89.08%	+75.22%
Max Drawdown (1Y) Largest decline over 1 year	-5.42%	-18.14%	+12.72%
Max Drawdown (3Y) Largest decline over 3 years	-11.15%	-36.82%	+25.67%
Max Drawdown (5Y) Largest decline over 5 years	—	-56.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-56.47%	—
Current Drawdown Current decline from peak	-3.51%	-2.24%	-1.27%
Average Drawdown Average peak-to-trough decline	-4.03%	-42.89%	+38.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	5.03%	-3.17%

Volatility

XTEN vs. TSM - Volatility Comparison

The current volatility for BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) is 2.05%, while Taiwan Semiconductor Manufacturing Company Limited (TSM) has a volatility of 11.64%. This indicates that XTEN experiences smaller price fluctuations and is considered to be less risky than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XTEN	TSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.05%	11.64%	-9.59%
Volatility (6M) Calculated over the trailing 6-month period	4.41%	27.19%	-22.78%
Volatility (1Y) Calculated over the trailing 1-year period	6.41%	35.61%	-29.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.56%	37.27%	-27.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.56%	34.12%	-24.56%

Dividends

XTEN vs. TSM - Dividend Comparison

XTEN's dividend yield for the trailing twelve months is around 4.40%, more than TSM's 0.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TSM Taiwan Semiconductor Manufacturing Company Limited	0.76%	1.00%	1.18%	1.78%	2.49%	1.57%	1.56%	3.46%	3.64%	2.32%	2.61%	2.54%
XTEN BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF	4.40%	4.05%	4.21%	3.71%	1.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XTEN and TSM in my portfolio?

XTEN and TSM have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XTEN or TSM?

TSM has higher volatility (11.64%) compared to XTEN (2.05%). In terms of maximum drawdown, XTEN dropped -13.86% vs TSM's -89.08%.

Which has better risk-adjusted returns?

TSM currently has the higher Sharpe Ratio (3.49 vs 0.75), 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.