In this study, vertical tunnel FET-based ternary CMOS (T-CMOS) is introduced and its electrical characteristics are investigated using TCAD device and mixed-mode simulations with experimentally calibrated tunneling parameters. This new T-CMOS utilizes two different types of tunneling currents to form three different output voltage states: (1) source-to-drain tunneling current; and (2) conventional source-to-channel tunneling current. To form a half supply voltage (V DD) output voltage during the inverter operation, the n-/p-type devices of the proposed T-CMOS are designed to have constant source-to-drain tunneling current regardless of gate voltage (V GS) by using nitride spacer between gate and drain. Also, typical binary inverter operation is performed using the source-to-channel tunneling. In voltage transfer characteristics (VTC), it is confirmed that there is the clear half V DD state after matching the tunneling currents of the n-/p-type devices. It is revealed that the stable half V DD state cannot be achievable if the currents are mismatched by gate workfunction, gate dielectric thickness, and interface trap variations, implying that the current matching between n-/p-type devices is crucial to obtain stable ternary operations. INDEX TERMS Band-to-band tunneling (BTBT), vertical tunnel field-effect transistor (vertical tunnel FET), ternary inverter, subthreshold swing (SS), ternary CMOS (T-CMOS), line tunneling.