MOEasymmetry · Research

Quality Compounder Leaderboard

Dividend compounders ranked by risk-adjusted return (Sharpe) — the rare combination of high yield, steady price growth, and a smooth ride. TISCO is the Thai benchmark (Sharpe ~0.78).

⚠️ Research & education only — not investment advice. The author is not a licensed adviser. Figures are derived from 2010–2026 price data (split-adjusted) and dividend records; verify against official SET / SGX / company filings before acting. "≈Total" ≈ price CAGR + recent dividend yield; ↓-trend names sit below their 200-day average (cheaper entry, weaker momentum).

Two ways to compound

There are two routes to wealth in equities. Income compounders pay a high dividend you reinvest — the cash payout is the return. Business compounders pay little, but retain earnings and reinvest at high returns, so the gain shows up as price growth (Warren Buffett's preferred kind). TISCO is rare because it does both.

💰 Income compounders — high yield, you reinvest

Stock	Mkt	Price CAGR	Yield	≈Total	Sharpe	Trend
TISCO	🇹🇭	+10.3%	7.1% ✓	+17.4%	0.78	↑
KKP	🇹🇭	+8.3%	7.0% ✓	+15.3%	0.55	↑
TCAP	🇹🇭	+6.8%	5.9% ✓	+12.7%	0.49	↑
SPALI	🇹🇭	+6.0%	8.8%	+14.8%	0.51	↓
DBS	🇸🇬	~+14%	5.5%	~+19%	—	↑
OCBC	🇸🇬	~+11%	4.3%	~+15%	—	↑
NI	🇺🇸	+13.3%	3.0%	+16.3%	1.00	↑
MAIN	🇺🇸	+7.9%	6.0%	+13.9%	0.59	↓
ORI	🇺🇸	+9.4%	4.0%	+13.4%	0.59	↓

Steadier (~13–18%), cashflow you can live on. Relies on payout sustainability. Watch for value traps (high yield + falling price). Rarely Buffett's pick — a forced payout can't compound internally.

🚀 Business compounders — low yield, reinvests internally (Buffett's kind)

Stock	Mkt	Price CAGR	Yield	≈Total	Sharpe	Trend
DELTA	🇹🇭	+35.9%	0.6%	+36.5%	0.59	↑
COM7	🇹🇭	+28.8%	3.5%	+32.4%	0.77	↑
KCE	🇹🇭	+19.1%	3.6%	+22.8%	0.50	↑
AOT	🇹🇭	+17.9%	0.6%	+18.5%	0.62	↑
BH	🇹🇭	+11.7%	3.0%	+14.6%	0.53	↑
AAPL	🇺🇸	+24.9%	0.5%	+25.4%	0.95	↑
TDG	🇺🇸	+25.1%	0.0%	+25.1%	0.94	↑
HEI	🇺🇸	+24.2%	0.1%	+24.3%	0.89	↑
TJX	🇺🇸	+19.3%	1.3%	+20.6%	1.01	↑
MA	🇺🇸	+19.5%	0.5%	+20.0%	0.89	↓

Higher ceiling (~18–36%), choppier, more tax-efficient (gains deferred). Relies on picking the right franchise early. Buffett owns AAPL (≈22% of Berkshire). DELTA (+36%/yr) was the Thai standout. TISCO and BDMS straddle both camps (BDMS: +12.8% price + 4% yield, Sharpe 0.75).

Full rankings by market below ↓

🇹🇭 Thailand — ranked by Sharpe

#	Stock	Sector	Price CAGR	Yield	≈Total	Sharpe	Trend
1	TISCO	Finance	+10.3%	7.1% ✓	+17.4%	0.78	↑
2	BDMS	Healthcare	+12.8%	4.1%	+16.9%	0.75	↓
3	AOT	Airports	+17.9%	0.6%	+18.5%	0.63	↑
4	DELTA	Electronics	+35.9%	0.6%	+36.5%	0.59	↑
5	ADVANC	Telecom	+9.0%	3.8%	+12.8%	0.59	↑
6	KKP	Bank	+8.3%	7.0% ✓	+15.3%	0.55	↑
7	BH	Healthcare	+11.7%	3.0%	+14.6%	0.53	↑
8	CPN	Property	+11.9%	2.5%	+14.4%	0.53	↑
9	SPALI	Property	+6.0%	8.8%	+14.8%	0.51	↓
10	KTB	Bank	+8.6%	3.4%	+12.0%	0.51	↑

Ranked by Sharpe on full 2010–2026 split-adjusted data (refreshed after a database-wide gap-fix — 156 stocks had missing recent history; now repaired). KCE (0.50), TCAP (0.49) just miss the top 10. COM7 (split-corrected: +28.8% price, Sharpe 0.77, ≈+32% total) is a newer 2015-IPO growth compounder — would rank ~#2 if full-history names only.

🇸🇬 Singapore — the big-three banks

#	Stock	Sector	~Total (5yr)	Yield	Note	Trend
1	DBS (D05)	Bank	~+19–26%	5.5%	Strongest — top-quartile ROE, progressive dividend	↑
2	UOB (U11)	Bank	~+15%	5.5%	Steady, conservative	↑
3	OCBC (O36)	Bank	~+15%	4.3%	Lower yield, strong 2026	↑

SG figures are 2020–2025 total returns (a rate-hike tailwind period for banks) — through-cycle rates are lower. Yields ~Jun 2026. SG banks are the cleanest TISCO-like profile in Asia: high yield + growth + low volatility. Source: StashAway, Growbeansprout (2026).

🇺🇸 United States — ranked by Sharpe (price)

#	Stock	Sector	Price CAGR	Yield~	Vol	Sharpe	Trend
1	TJX	Retail	+19.3%	1.3%	19%	1.01	↑
2	NI	Utility	+13.3%	3.0%	16%	1.00	↑
3	ABBV	Pharma	+14.9%	3.4%	—	0.74	↑
4	MAIN	BDC (lender)	+7.9%	6.0%	24%	0.59	↓
5	ORI	Insurance	+9.4%	4.0%	23%	0.59	↓

US Sharpe is price-only (dividends not yet in dataset). Closest high-yield-lender analog to TISCO: MAIN (mid-market BDC). Smoothest: NI / TJX.

Method

Price CAGR uses split-adjusted closes (single-day moves >2.5× or <0.4× are treated as corporate actions and back-adjusted — this removes the reverse-split artifacts that fake huge returns in raw data). Yield uses recent (post-2021) dividends ÷ current price, capped at 12% to guard against a known dividend-basis data issue. Sharpe = (price CAGR + yield) ÷ annualized monthly volatility, risk-free 0. Universe: liquid stocks (ADV > ฿50M / $50M) with full 2010–2026 history.

The trap we avoid: on raw Thai data a naive momentum backtest "returned" +67%/yr — all of it fake, from unadjusted reverse splits and a price-vs-dividend basis mismatch. Clean the data first.

As of 22 June 2026 · MOEasymmetry research · ← all research