Panasonic TS2 has a
14.0MP 1/2.3-inch (6.08 x 4.56 mm ) sized CCD sensor and features Venus Engine HD II processor. On the other hand, Casio EX-Z16 has a
12.0MP 1/2.3-inch (6.17 x 4.55 mm ) sized CCD sensor and features Exilim Engine 5.0 processor.
Below you can see the TS2 and EX-Z16 sensor size comparison.
Panasonic TS2 and Casio EX-Z16 have almost the same sensor size, so neither of them has any significant advantage over the other in terms of providing control over depth of field when used with the same focal length and aperture.