Relative Intelligence · Electric Utilities
How Duke Energy (DUK) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on DUK alone. It places DUK (Duke Energy Corporation) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where DUK stands in the market, and of the alternatives worth a closer look.
Period covered: DUK's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.
Data as of October 20, 2026. Full tables and charts read best on a larger screen.
On this page12 sections
Key findings
- Right nowOver the past 6 months, DUK fell 3.5% while the S&P 500 rose 9.1%. Not every peer went the same way. Over the past 6 months, ED (Consolidated Edison) rose 3.8% and SRE (Sempra) fell 9.9%. Consistency ↓
- Stock or market?DUK fell 2.7% over the past 3 months, 3.4 points ahead of the electric utilities ETF XLU (State Street Utilities Select Sector SPDR ETF), which fell 6.1%. The S&P 500 rose 3.9%. Last month cut against the tape: DUK rose 3.9% while the S&P 500 fell 0.6%.
- Past 1 to 3 yearsDUK has gone against the market, falling 2.6% over the past year while the S&P 500 rose 15.8%. The same gap shows up over 3 years (56.1% against 89.3%). DUK led its electric utility peers in 2023, then fell behind AEP (American Electric Power) and D (Dominion Energy) in 2025. By year ↓
- Long termDUK turned $10,000 into $23,200 over the past decade, against $42,100 in the S&P 500. Growth of $10,000 ↓
- In a crashIn the Covid crash, DUK fell 37.4%, against 33.7% for the S&P 500. That was more than AEP (American Electric Power, 32.4%) but less than SRE (Sempra, 44.6%). Crash tests ↓
- DiversificationDUK is some diversification, but not a hedge: a correlation of 0.35 with the S&P 500 over 5 years and 0.35 with the total US market, less closely than 60% of stocks worth at least $300 million. Over 10 years DUK kept more of the market's gains than of its losses: 35% of the S&P 500's gains in rising months and 19% of its losses in falling ones, with a beta of 0.33. Market capture ↓
- Better options
- Nearby categories and themes
- EMLP (First Trust North American Energy Infrastructure Fund, electric grid infrastructure theme) and IGF (iShares Global Infrastructure ETF, electric grid infrastructure theme) earned more than DUK with less volatility over the past 5 years. EMLP returned 14.9% a year at 14.5% volatility, against 7.5% a year at 18.0%.
- Whole market
- 205 of the 3,633 stocks and funds worth at least $500 million earned more than DUK with less volatility over the past 5 years, among them VOO (Vanguard S&P 500 ETF), IVV (iShares Core S&P 500 ETF) and KO (Coca-Cola).
How much would $10,000 in DUK have grown?
This chart tracks a hypothetical $10,000 investment in DUK over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of DUK over the same span and DUK's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.
- $10,000 invested in DUK at the end of September 1997 would have grown to $96,218 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- Six of the eight other investments on the chart ended ahead of DUK, and ETN finished highest, at $538,468.
Choose a period
From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 545 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of DUK; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- ETN$538,468+5,285% total · +14.7% a year
- NEE$299,370+2,894% total · +12.4% a year
- ETR$234,668+2,247% total · +11.5% a year
- SO$225,240+2,152% total · +11.3% a year
- NI$152,353+1,424% total · +9.8% a year
- SPY (S&P 500)$132,907+1,229% total · +9.3% a year
- AEE$96,296+863% total · +8.1% a year
- DUK$96,218+862% total · +8.1% a year
- AEP$92,393+824% total · +8.0% a year
- EVRG$89,845+798% total · +7.9% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,719 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of DUK; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- PWR$56,870+469% total · +41.6% a year
- ETN$31,102+211% total · +25.5% a year
- ETR$23,803+138% total · +18.9% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- NI$18,933+89.3% total · +13.6% a year
- AEP$17,493+74.9% total · +11.8% a year
- ED$16,736+67.4% total · +10.8% a year
- SO$16,055+60.5% total · +9.9% a year
- EVRG$15,393+53.9% total · +9.0% a year
- DUK$14,163+41.6% total · +7.2% a year
DUK at a glance
This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.
- DUK's deepest decline since it began trading in 1986 was 71.9%, from April 2001 to March 2003. It took about four years from the low to climb back to its old high.
- Over 29 full calendar years, DUK's best was 2000, when it returned 76.0%, and its worst was 2002, when it lost 48.2%. It lost money in six of those years.
- DUK is 7.5% below its all-time high.
The company
- Market value
- $95B
- Industry
- Regulated Electric
- Price history from
- October 1986
Returns
- Past 1 year
- −2.6%total return
- Past 3 years
- +56.1%+16.0% a year
- Past 5 years
- +43.9%+7.5% a year
- Past 10 years
- +132%+8.8% a year
- Best calendar year
- +76.0%2000
- Worst calendar year
- −48.2%2002
- Losing years
- 6 of 29full calendar years
Risk
- Volatility
- 18.0%typical yearly swing, 5 years
- Sharpe ratio
- 0.50return per unit of risk, 5 years
- Worst decline ever
- −71.9%Apr 2001 to Mar 2003
- From its all-time high
- −7.5%below the peak
DUK against the whole market
Where DUK ranks among every stock and fund, and what across the market has done better.
How does DUK rank among all stocks?
This section ranks DUK on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how DUK stacks up against its peers, these rankings show where it stands in the market as a whole.
- DUK is among the steadier stocks: its price swings rank in the top 2% of the 2,893 stocks worth at least $300 million, where the top is the calmest.
Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.
| Measure | DUK | Rank | Standing |
|---|---|---|---|
| 1-year return | −2.6% | 2,093 of 3,287 | bottom 37% |
| 3-year return | +56.1% | 1,453 of 3,017 | top 48% |
| 5-year return | +43.9% | 1,156 of 2,893 | top 40% |
| 10-year return | +132% | 1,170 of 2,202 | bottom 48% |
| Volatility, 5 years | 18.0% | 47 of 2,893 | top 2% |
| Sharpe ratio, 5 years | 0.50 | 933 of 2,893 | top 32% |
| Worst decline, past 10 years | −37.4% | 93 of 2,187 | top 4% |
What has beaten DUK on both return and risk?
Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). DUK sits where the dashed lines cross. Anything in the green box above and to the left earned more than DUK with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.
- One stock and 204 ETFs worth at least $500 million sit in the green region: each earned more than DUK over the past 5 years with smaller price swings. That is 6% of the 3,633 screened.
- Among those with at least half DUK's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 38% less than DUK's 18.0%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.50 for DUK.
- None of DUK's popular alternatives made it, but EMLP (electric grid infrastructure theme) did: 14.9% a year at 14.5% volatility, 20% less than DUK's 18.0%.
Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to DUK; faint dots are 78 more of the 205 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.
- Popular alternatives
- Same and neighboring categories, and shared themes
- The whole market
- Others in the green region
- 1 with more than 1.6× DUK's volatility is in the table only
Is there a better investment than DUK?
Investments that beat DUK over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among DUK's popular alternatives, ED earned more for the risk it took than DUK over the past 5 years, and its worst fall in 10 years was 30.9%, against 37.4% for DUK.
- Looking beyond its popular alternatives, EMLP (electric grid infrastructure theme) and IGF (electric grid infrastructure theme) earned more than DUK with less volatility over the past 5 years. EMLP returned 14.9% a year at 14.5% volatility, against 7.5% a year at 18.0%.
- Across the whole market, 205 of the 3,633 stocks and funds worth at least $500 million earned more than DUK with less volatility over the past 5 years, among them VOO, IVV and KO.
How this works
The table below lists investments that beat DUK over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes. It checks DUK's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than DUK follows the table.
Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than DUK's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× DUK's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than DUK's.
| Investment | Why it is better | Past 5 years | Downside | Long run | Fit | ||||
|---|---|---|---|---|---|---|---|---|---|
| Annual return?higher is better | Volatility?lower is calmer | Sharpe?return per unit of risk | Worst decline?past 10 years | 10Y returntotal | Corr. with DUK?lower diversifies more | Expenseper year | |||
| DUKDuke Energy Corporation · this page | +7.5% | 18.0% | 0.50 | −37.4% | +132% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.35 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against DUK. 6 of 24 passed at least one test. | |||||||||
 EDConsolidated Edison, Inc. · Electric Utilities | Higher return, similar volatilityHigher Sharpe, smaller worst decline | +12.0% | 18.8% | 0.70 | −30.9% | +114% | 0.83 | — | |
 PWRQuanta Services, Inc. · Engineering & Construction | Higher return in most periods | +39.3% | 37.2% | 1.08 | −45.5% | +2,045% | 0.27 | — | |
 AEPAmerican Electric Power Company, Inc. · Electric Utilities | Higher return in most periods | +12.4% | 20.2% | 0.68 | −32.9% | +185% | 0.83 | — | |
EVRGEvergy, Inc. · Electric Utilities | Higher return in most periods | +9.5% | 18.9% | 0.57 | −38.8% | +109% | 0.82 | — | |
NINiSource Inc · Gas Utilities | Higher Sharpe, smaller worst decline | +15.1% | 20.3% | 0.80 | −30.9% | +158% | 0.80 | — | |
 SOThe Southern Company · Electric Utilities | Higher return, similar volatility | +11.3% | 18.8% | 0.67 | −38.4% | +170% | 0.86 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Electric Utilities and the categories next to it (Independent Power Producers, Electrical Equipment, Engineering & Construction, Gas Utilities), plus DUK's specific themes. 10 of 62 passed at least one test. | |||||||||
EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure · Electric Grid Infrastructure theme | Higher return, lower volatilityHigher return in most periods | +14.9% | 14.5% | 1.04 | −43.6% | +150% | 0.73 | 0.95% | |
OGEOGE Energy Corp. · Electric Utilities | Higher return, similar volatilityHigher return in most periods | +11.5% | 18.8% | 0.68 | −48.9% | +134% | 0.84 | — | |
IGFiShares Global Infrastructure ETF · Infrastructure Equity · Electric Grid Infrastructure theme | Higher return, lower volatility | +9.0% | 13.9% | 0.69 | −42.1% | +113% | 0.79 | 0.37% | |
 NGGNational Grid plc · Electric Utilities | Higher return in most periods | +11.8% | 22.6% | 0.61 | −39.2% | +118% | 0.59 | — | |
FTSFortis Inc. · Electric Utilities | Higher return in most periods | +8.4% | 16.4% | 0.58 | −34.3% | +154% | 0.80 | — | |
ATOAtmos Energy Corporation · Gas Utilities | Higher return, similar volatility | +14.9% | 18.4% | 0.85 | −32.9% | +194% | 0.73 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 675 of 3,547 passed at least one test. | |||||||||
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.63 | 0.40% | |
 VIGVanguard Dividend Appreciation ETF · US Dividend Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.53 | 0.04% | |
 DFACDimensional - US Core Equity 2 ETF · US Total Market | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +11.4% | 17.0% | 0.72 | −23.1% | — | 0.40 | 0.21% | |
FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.29 | 0.85% | |
 BRK-BBerkshire Hathaway Inc. · Insurance | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.56 | — | |
 JNJJohnson & Johnson · Pharmaceuticals | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.52 | — | |
RECSColumbia Research Enhanced Core ETF · US Large-Cap Equity | Higher return, lower volatilityHigher return in most periodsSmaller losses in recent crashes | +13.4% | 16.4% | 0.85 | −34.3% | +237% | 0.38 | 0.15% | |
 JEPIJPMorgan Equity Premium Income ETF · Equity Income | Similar return, lower volatilityHigher Sharpe, smaller worst decline | +7.5% | 11.0% | 0.71 | −13.7% | — | 0.60 | 0.35% | |
What these numbers mean for DUK
- Annual return
- DUK returned 7.5% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $14,400. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
- Volatility
- DUK's volatility over the past 5 years was 18.0%, 1.0 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, DUK's return lands within 18.0% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
- Sharpe ratio
- DUK's Sharpe ratio over the past 5 years was 0.50, against 0.79 for the S&P 500, so DUK earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
- Worst decline
- DUK's worst fall from a peak to a low over the past 10 years was 37.4%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 37.4% fall takes a 59.7% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, DUK's monthly returns had a correlation of 0.35 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against DUK instead: the lower it is, the more that option would diversify a DUK holding. Guide: Correlation and diversification →
Show all 205 stocks and funds worth at least $500 million that earned more than DUK with less volatility
Out of 3,633 tested over 5 years. The strongest 84 are listed, best first, with funds that hold the same thing listed once.
| # | Investment | Found in | Annual return | Volatility | Sharpe | Worst decline | 10Y return | Corr. with DUK | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.63 | 0.40% |
| 2 | VIGVanguard Dividend Appreciation ETF · US Dividend Equity | Whole market | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.53 | 0.04% |
| 3 | DFACDimensional - US Core Equity 2 ETF · US Total Market | Whole market | +11.4% | 17.0% | 0.72 | −23.1% | — | 0.40 | 0.21% |
| 4 | FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset | Whole market | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.29 | 0.85% |
| 5 | DFIVDimensional - International Value ETF · International Equity | Whole market | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.59 | 0.27% |
| 6 | AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Whole market | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.46 | 0.15% |
| 7 | SPHQInvesco S&P 500 Quality ETF · US Quality Equity | Whole market | +12.0% | 16.7% | 0.76 | −31.6% | +300% | 0.43 | 0.20% |
| 8 | DFAIDimensional - International Core Equity Market ETF · Developed International Equity | Whole market | +9.7% | 16.0% | 0.66 | −27.4% | — | 0.58 | 0.18% |
| 9 | DIVOAmplify CWP Enhanced Dividend Income ETF · Equity Income | Whole market | +11.1% | 11.9% | 0.95 | −30.0% | — | 0.57 | 0.56% |
| 10 | JAVAJPMorgan Active Value ETF · US Large-Cap Value | Whole market | +11.5% | 14.5% | 0.82 | −16.5% | — | — | 0.44% |
| 11 | USMCPrincipal U.S. Mega-Cap ETF · Broad Market | Whole market | +14.1% | 16.4% | 0.89 | −30.0% | — | 0.30 | 0.12% |
| 12 | FTLSFirst Trust Long/Short Equity ETF · Broad Market | Whole market | +10.2% | 10.4% | 0.99 | −20.6% | +158% | 0.36 | 0.95% |
| 13 | PTLCPacer Trendpilot US Large Cap ETF · Broad Market | Whole market | +9.5% | 11.8% | 0.83 | −26.6% | +188% | 0.22 | 0.60% |
| 14 | DIVIFranklin International Core Dividend Tilt Index ETF · International | Whole market | +13.4% | 15.5% | 0.89 | −27.7% | +184% | 0.58 | 0.09% |
| 15 | AOAiShares Core 80/20 Aggressive Allocation ETF · Multi-Asset | Whole market | +8.6% | 13.1% | 0.69 | −28.4% | +165% | 0.46 | 0.19% |
| 16 | ACIOAptus Collared Income Opportunity ETF · Dividend & Income | Whole market | +9.3% | 11.1% | 0.86 | −14.2% | — | 0.32 | 0.79% |
| 17 | SCHYSchwab International Dividend Equity ETF · International | Whole market | +9.5% | 13.3% | 0.75 | −24.0% | — | 0.66 | 0.08% |
| 18 |  VOOVanguard S&P 500 ETF · US Large-Cap Equity | Whole market | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.35 | 0.03% |
| 19 | FFLCFidelity Fundamental Large Cap Core ETF · Broad Market | Whole market | +15.7% | 16.8% | 0.95 | −19.7% | — | 0.32 | 0.38% |
| 20 | IHEiShares U.S. Pharmaceuticals ETF · Broad Market | Whole market | +12.6% | 16.8% | 0.80 | −29.6% | +151% | 0.48 | 0.37% |
| 21 | TDVGT. Rowe Price Dividend Growth ETF · Dividend & Income | Whole market | +9.6% | 13.8% | 0.73 | −19.2% | — | 0.57 | 0.50% |
| 22 | PPHVanEck Pharmaceutical ETF · Healthcare | Whole market | +11.6% | 15.8% | 0.78 | −29.7% | +153% | 0.52 | 0.36% |
| 23 | PTNQPacer Trendpilot 100 ETF · Technology | Whole market | +9.7% | 14.1% | 0.73 | −28.1% | +305% | 0.01 | 0.65% |
| 24 | FTQIFirst Trust Nasdaq BuyWrite Income ETF · Dividend & Income | Whole market | +11.5% | 14.8% | 0.82 | −19.4% | +121% | 0.26 | 0.75% |
| 25 | FTXHFirst Trust Nasdaq Pharmaceuticals ETF · Healthcare | Whole market | +11.9% | 16.9% | 0.75 | −32.1% | +153% | 0.45 | 0.60% |
| 26 | SIXAETC 6 Meridian Mega Cap Equity ETF · Broad Market | Whole market | +12.8% | 12.7% | 1.01 | −18.4% | — | 0.57 | 0.31% |
| 27 |  KOThe Coca-Cola Company · Food & Beverages | Whole market | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.60 | — |
| 28 | VSLUApplied Finance Valuation Large Cap ETF · Broad Market | Whole market | +13.7% | 16.2% | 0.88 | −23.8% | — | 0.35 | 0.49% |
| 29 | SSUSStrategy Shares Day Hagan Smart Sector ETF · Broad Market | Whole market | +10.5% | 15.4% | 0.73 | −23.8% | — | 0.28 | 0.77% |
| 30 |  SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Whole market | +9.7% | 14.3% | 0.72 | −33.4% | +252% | 0.59 | 0.06% |
| 31 |  VTVanguard Total World Stock ETF · Global Equity | Whole market | +10.3% | 16.2% | 0.69 | −34.2% | +223% | 0.44 | 0.06% |
| 32 |  VEUVanguard FTSE All-World ex-US ETF · International Equity | Whole market | +8.5% | 16.4% | 0.58 | −35.0% | +143% | 0.54 | 0.04% |
| 33 | FNDFSchwab Fundamental International Large Company Index ETF · International Equity | Whole market | +13.6% | 16.3% | 0.87 | −40.2% | +194% | 0.57 | 0.25% |
| 34 | VOEVanguard Morningstar Mid-Cap Value ETF · US Mid-Cap Equity | Whole market | +9.4% | 15.8% | 0.65 | −43.2% | +182% | 0.61 | 0.05% |
| 35 | HDViShares Core High Dividend ETF · US Dividend Equity | Whole market | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.69 | 0.08% |
| 36 | SCHVSchwab U.S. Large-Cap Value ETF · US Large-Cap Value | Whole market | +10.2% | 14.4% | 0.75 | −37.1% | +195% | 0.58 | 0.04% |
| 37 | RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity | Whole market | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.52 | 0.39% |
| 38 | PJULInnovator U.S. Equity Power Buffer ETF · Broad Market | Whole market | +10.5% | 8.6% | 1.20 | −18.2% | — | 0.33 | 0.79% |
| 39 | FDVVFidelity High Dividend ETF · US Dividend Equity | Whole market | +13.2% | 14.6% | 0.92 | −40.2% | +253% | 0.57 | 0.15% |
| 40 | DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity | Whole market | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.47 | 0.35% |
| 41 | FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity | Whole market | +13.9% | 14.4% | 0.98 | −41.4% | +199% | 0.70 | 0.43% |
| 42 | JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity | Whole market | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.39 | 0.12% |
| 43 | BBCAJPMorgan BetaBuilders Canada ETF · International Equity | Whole market | +11.4% | 16.7% | 0.73 | −42.8% | — | 0.58 | 0.19% |
| 44 | IDViShares International Select Dividend ETF · International Equity | Whole market | +12.8% | 15.5% | 0.86 | −42.5% | +159% | 0.66 | 0.50% |
| 45 | FNDESchwab Fundamental Emerging Markets Large Company Index ETF · Emerging Markets Equity | Whole market | +9.8% | 17.0% | 0.64 | −39.9% | +151% | 0.48 | 0.39% |
| 46 | GCOWPacer Global Cash Cows Dividend ETF · International | Whole market | +14.1% | 13.6% | 1.04 | −37.6% | +168% | 0.66 | 0.60% |
| 47 | FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives | Whole market | +12.9% | 15.6% | 0.86 | −35.9% | +139% | 0.30 | 0.98% |
| 48 | OMFLInvesco Russell 1000 Dynamic Multifactor ETF · US Multifactor Equity | Whole market | +9.0% | 16.4% | 0.61 | −33.2% | — | 0.41 | 0.29% |
| 49 | EWUiShares MSCI United Kingdom ETF · International | Whole market | +11.4% | 16.4% | 0.74 | −43.3% | +130% | 0.65 | 0.50% |
| 50 | DEMWisdomTree Emerging Markets High Dividend Fund · International Equity | Whole market | +9.6% | 15.5% | 0.67 | −37.8% | +133% | 0.45 | 0.63% |
| 51 | WTVWisdomTree U.S. Value Fund · Broad Market | Whole market | +13.4% | 17.0% | 0.83 | −42.2% | +303% | 0.46 | 0.12% |
| 52 | EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure · Electric Grid Infrastructure theme | Same or nearby category | +14.9% | 14.5% | 1.04 | −43.6% | +150% | 0.73 | 0.95% |
| 53 | EQWLInvesco S&P 100 Equal Weight ETF · Broad Market | Whole market | +11.6% | 15.0% | 0.81 | −34.3% | +291% | 0.50 | 0.30% |
| 54 | BUFRFT Vest Laddered Buffer ETF · Buffered Equity | Whole market | +9.9% | 10.5% | 0.96 | −13.7% | — | 0.36 | 0.10% |
| 55 | DIVBiShares Core Dividend ETF · Dividend & Income | Whole market | +13.9% | 15.4% | 0.93 | −36.9% | — | 0.52 | 0.05% |
| 56 | HFXINYLI FTSE International Equity Currency Neutral ETF · International | Whole market | +11.4% | 15.3% | 0.79 | −32.4% | +180% | 0.49 | 0.19% |
| 57 | NULVNuveen ESG Large-Cap Value · Broad Market | Whole market | +9.2% | 14.2% | 0.69 | −37.0% | — | 0.56 | 0.26% |
| 58 | DSTLDistillate U.S. Fundamental Stability & Value ETF · Broad Market | Whole market | +11.3% | 16.1% | 0.75 | −33.1% | — | 0.50 | 0.39% |
| 59 | DDWMWisdomTree Dynamic International Equity Fund · International | Whole market | +12.3% | 13.4% | 0.94 | −35.0% | +149% | 0.59 | 0.40% |
| 60 | DHSWisdomTree U.S. High Dividend Fund · Dividend & Income | Whole market | +12.0% | 13.9% | 0.89 | −37.4% | +156% | 0.67 | 0.38% |
| 61 | RODMHartford Multifactor Developed Markets (ex-US) ETF · International | Whole market | +10.6% | 13.5% | 0.82 | −36.0% | +141% | 0.66 | 0.29% |
| 62 | FGDFirst Trust Dow Jones Global Select Dividend Index Fund · International | Whole market | +11.6% | 14.8% | 0.82 | −44.8% | +155% | 0.62 | 0.55% |
| 63 | RAAXVanEck Real Assets ETF · Commodities | Whole market | +11.7% | 15.6% | 0.79 | −33.9% | — | 0.66 | 0.55% |
| 64 | EDIVState Street SPDR S&P Emerging Markets Dividend ETF · International | Whole market | +11.2% | 13.8% | 0.84 | −40.7% | +119% | 0.44 | 0.49% |
| 65 | AUSFGlobal X - Adaptive U.S. Factor ETF · International | Whole market | +13.2% | 13.6% | 0.99 | −44.2% | — | 0.56 | 0.27% |
| 66 | DBMFiMGP DBi Managed Futures Strategy ETF · Alternatives | Whole market | +9.8% | 12.4% | 0.82 | −20.4% | — | -0.20 | 0.85% |
| 67 | EQLALPS Equal Sector Weight ETF · Broad Market | Whole market | +13.5% | 14.5% | 0.94 | −34.2% | +387% | 0.60 | 0.19% |
| 68 | ROUSHartford Multifactor US Equity ETF · Broad Market | Whole market | +12.3% | 14.4% | 0.88 | −35.5% | +238% | 0.52 | 0.19% |
| 69 | FDRRFidelity Dividend ETF for Rising Rates · Dividend & Income | Whole market | +12.6% | 15.0% | 0.87 | −36.5% | +265% | 0.46 | 0.15% |
| 70 | FYLDCambria Foreign Shareholder Yield ETF · Dividend & Income | Whole market | +13.1% | 16.0% | 0.85 | −44.6% | +203% | 0.61 | 0.59% |
| 71 | DBEUXtrackers MSCI Europe Hedged Equity ETF · International | Whole market | +11.2% | 14.4% | 0.82 | −34.5% | +178% | 0.49 | 0.46% |
| 72 | IDOGALPS International Sector Dividend Dogs ETF · International | Whole market | +14.1% | 15.6% | 0.93 | −37.3% | +180% | 0.61 | 0.50% |
| 73 | QDEFNorthern Trust Quality Dividend Defensive ETF · Dividend & Income | Whole market | +12.7% | 13.7% | 0.94 | −35.7% | +228% | 0.52 | 0.40% |
| 74 | OUSAALPS Funds O’Shares U.S. Quality Dividend ETF · Dividend & Income | Whole market | +9.4% | 13.4% | 0.74 | −33.1% | +186% | 0.53 | 0.48% |
| 75 | DJDInvesco Dow Jones Industrial Average Dividend ETF · Dividend & Income | Whole market | +11.8% | 13.3% | 0.91 | −34.7% | +227% | 0.65 | 0.07% |
| 76 | PJPInvesco Pharmaceuticals ETF · Healthcare | Whole market | +11.2% | 16.6% | 0.72 | −34.0% | +135% | 0.45 | 0.58% |
| 77 | IPKWInvesco International BuyBack Achievers ETF · International | Whole market | +11.0% | 17.0% | 0.71 | −47.3% | +197% | 0.54 | 0.55% |
| 78 | FDEMFidelity Emerging Markets Multifactor ETF · International | Whole market | +9.2% | 17.0% | 0.61 | −33.7% | — | 0.40 | 0.25% |
| 79 | CMDYiShares Bloomberg Roll Select Commodity Strategy ETF · Commodities | Whole market | +9.5% | 15.7% | 0.66 | −31.2% | — | 0.36 | 0.29% |
| 80 | WTPIWisdomTree Equity Premium Income Fund · Alternatives | Whole market | +9.1% | 12.2% | 0.78 | −28.4% | +121% | 0.35 | 0.44% |
| 81 | IGFiShares Global Infrastructure ETF · Infrastructure Equity · Electric Grid Infrastructure theme | Same or nearby category | +9.0% | 13.9% | 0.69 | −42.1% | +113% | 0.79 | 0.37% |
| 82 | RLYState Street Multi-Asset Real Return ETF · Multi-Asset | Whole market | +9.9% | 13.3% | 0.78 | −34.2% | +128% | 0.66 | 0.50% |
| 83 | DBAInvesco DB Agriculture Fund · Alternatives | Whole market | +10.7% | 13.8% | 0.81 | −35.3% | +62.2% | 0.27 | 0.90% |
| 84 | FXUFirst Trust Utilities AlphaDEX Fund · Utilities | Whole market | +11.2% | 16.6% | 0.72 | −34.8% | +138% | 0.87 | 0.61% |
DUK against its popular alternatives
The investments people most often weigh against DUK, compared period by period and year by year.
How do DUK's risk and return compare with its alternatives?
This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at DUK, which divides the map into what did better or worse on each measure.
- None of the 24 popular alternatives earned more than DUK over the past 5 years with smaller price swings, so every higher return on the map came with a bumpier ride.
- 12 of the 24 popular alternatives earned less than DUK over the past 5 years while swinging more, the weaker corner of the map.
- Over the past 5 years, DUK returned 7.5% a year, less than the S&P 500's 12.7%, with higher volatility (18.0% against 17.1%).
Green points earned more than DUK with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| PWR Quanta Services, Inc. | +39.3% | 37.2% |
| ETN Eaton Corporation plc | +20.4% | 32.1% |
| ETR Entergy Corporation | +19.2% | 22.4% |
| NI NiSource Inc | +15.1% | 20.3% |
| PNW Pinnacle West Capital Corporation | +13.4% | 19.9% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| AEP American Electric Power Company, Inc. | +12.4% | 20.2% |
| ED Consolidated Edison, Inc. | +12.0% | 18.8% |
| SO The Southern Company | +11.3% | 18.8% |
| EVRG Evergy, Inc. | +9.5% | 18.9% |
| FE FirstEnergy Corp. | +8.5% | 19.4% |
| SRE Sempra | +8.1% | 23.0% |
| AEE Ameren Corporation | +7.8% | 19.4% |
| DUK This pageDuke Energy Corporation | +7.5% | 18.0% |
| LNT Alliant Energy Corporation | +7.3% | 19.8% |
| WEC WEC Energy Group, Inc. | +7.2% | 19.0% |
| PPL PPL Corporation | +7.1% | 18.9% |
| EXC Exelon Corporation | +7.1% | 20.9% |
| XEL Xcel Energy Inc. | +6.5% | 20.9% |
| PEG Public Service Enterprise Group Incorporated | +5.8% | 20.6% |
| DTE DTE Energy Company | +5.7% | 19.0% |
| CMS CMS Energy Corporation | +5.6% | 19.0% |
| NEE NextEra Energy, Inc. | +1.5% | 26.8% |
| D Dominion Energy, Inc. | +0.5% | 22.7% |
| ES Eversource Energy | −1.4% | 23.9% |
| AWK American Water Works Company, Inc. | −2.8% | 23.1% |
Has DUK consistently beaten its popular alternatives?
This section compares DUK with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than DUK helps separate lasting outperformance from a single strong stretch.
- Four of the 25 popular alternatives, led by AEP, PWR and EVRG, outperformed DUK in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- AEP outperformed DUK in every long-term period and in all but one short-term period, the most consistent record in the group.
- NI, ED and AEP earned more for the risk they took than DUK (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
A green cell means the alternative earned more than DUK over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| DUK Duke Energy Corporation (this page) | — | +3.9% | −2.7% | −3.5% | +6.0% | −2.6% | +56.1% | +43.9% | +132% | 18.0% | 0.50 | −37.4% | — | $95B | — |
| AEP QualifiedAmerican Electric Power Company, Inc. | 4/5 short3/3 longAll-weather | +6.0% | −2.2% | −3.1% | +12.4% | +11.3% | +93.3% | +79.4% | +185% | 20.2% | 0.68 | −32.9% | — | $69B | — |
| PWR QualifiedQuanta Services, Inc. | 3/5 short3/3 long | −7.2% | −5.8% | −1.5% | +35.6% | +35.3% | +263% | +425% | +2,045% | 37.2% | 1.08 | −45.5% | — | $90B | — |
| EVRG QualifiedEvergy, Inc. | 5/5 short2/3 long | +4.5% | −1.9% | +3.2% | +16.3% | +9.0% | +93.6% | +57.2% | +109% | 18.9% | 0.57 | −38.8% | — | $19B | — |
| SO QualifiedThe Southern Company | 3/5 short2/3 long | +6.1% | −3.2% | −1.4% | +6.6% | −4.1% | +53.0% | +70.9% | +170% | 18.8% | 0.67 | −38.4% | — | $104B | — |
| ETN Electrical Equipment & PartsEaton Corporation plc | 2/5 short3/3 long | −12.3% | −4.6% | −5.8% | +17.7% | +2.3% | +104% | +153% | +657% | 32.1% | 0.74 | −44.5% | — | $148B | — |
| ETR Regulated ElectricEntergy Corporation | 2/5 short3/3 long | +3.5% | −5.5% | −6.4% | +14.1% | +11.4% | +149% | +141% | +311% | 22.4% | 0.90 | −42.0% | — | $50B | — |
| NI Regulated GasNiSource Inc | 2/5 short3/3 long | +5.5% | −5.1% | −9.3% | +3.4% | +0.1% | +86.1% | +102% | +158% | 20.3% | 0.80 | −30.9% | — | $21B | — |
| AEE Regulated ElectricAmeren Corporation | 2/5 short2/3 long | +4.3% | −3.1% | −3.2% | +7.6% | +3.4% | +52.5% | +45.9% | +192% | 19.4% | 0.49 | −29.1% | — | $29B | — |
| NEE Regulated ElectricNextEra Energy, Inc. | 0/5 short2/3 long | −1.0% | −9.7% | −13.0% | −0.4% | −4.3% | +65.9% | +7.5% | +228% | 26.8% | 0.19 | −45.0% | — | $165B | — |
| ED Regulated ElectricConsolidated Edison, Inc. | 5/5 short1/3 long | +7.8% | +1.7% | +3.8% | +14.7% | +13.7% | +42.4% | +76.3% | +114% | 18.8% | 0.70 | −30.9% | — | $41B | — |
| PNW Regulated ElectricPinnacle West Capital Corporation | 4/5 short1/3 long | +10.3% | −2.3% | +1.8% | +20.0% | +15.3% | +57.1% | +87.3% | +103% | 19.9% | 0.73 | −39.3% | — | $12B | — |
| D Regulated ElectricDominion Energy, Inc. | 3/5 short1/3 long | 0.0% | −9.8% | +3.0% | +9.4% | +6.6% | +80.8% | +2.7% | +32.5% | 22.7% | 0.14 | −52.2% | — | $55B | — |
| XEL Regulated ElectricXcel Energy Inc. | 2/5 short1/3 long | +6.7% | −1.7% | −3.0% | +5.1% | −2.7% | +46.0% | +37.3% | +156% | 20.9% | 0.41 | −34.4% | — | $48B | — |
| LNT Regulated ElectricAlliant Energy Corporation | 2/5 short1/3 long | +5.1% | −7.0% | −4.3% | +6.5% | +2.6% | +54.6% | +42.3% | +150% | 19.8% | 0.46 | −33.5% | — | $18B | — |
| PPL Regulated ElectricPPL Corporation | 2/5 short1/3 long | +4.7% | −1.5% | −9.2% | +0.9% | −5.2% | +60.8% | +40.7% | +59.2% | 18.9% | 0.46 | −48.7% | — | $26B | — |
| WEC Regulated ElectricWEC Energy Group, Inc. | 1/5 short1/3 long | +5.1% | −2.5% | −3.9% | +4.8% | −4.3% | +49.1% | +41.6% | +159% | 19.0% | 0.46 | −32.3% | — | $35B | — |
| FE Regulated ElectricFirstEnergy Corp. | 1/5 short1/3 long | +1.7% | −4.9% | −5.7% | +4.1% | +0.7% | +46.8% | +50.2% | +111% | 19.4% | 0.52 | −47.7% | — | $26B | — |
| CEG Independent Power ProducersConstellation Energy Corporation | 1/5 short1/3 long | −1.2% | +2.3% | −9.7% | −29.0% | −29.7% | +135% | — | — | — | — | −50.7% | — | $92B | — |
| EXC Regulated ElectricExelon Corporation | 0/5 short1/3 long | +2.5% | −5.5% | −5.5% | +0.7% | −7.5% | +22.6% | +40.7% | +159% | 20.9% | 0.43 | −40.0% | — | $44B | — |
| PEG Regulated ElectricPublic Service Enterprise Group Incorporated | 0/5 short1/3 long | +2.2% | −8.1% | −10.7% | −10.2% | −13.6% | +31.9% | +32.3% | +142% | 20.6% | 0.38 | −40.8% | — | $35B | — |
| SRE Diversified UtilitiesSempra | 0/5 short1/3 long | +2.8% | −7.9% | −9.9% | −5.6% | −8.0% | +32.7% | +47.5% | +114% | 23.0% | 0.46 | −45.0% | — | $54B | — |
| AWK Regulated WaterAmerican Water Works Company, Inc. | 2/5 short0/3 long | +1.4% | +2.3% | +3.3% | +6.4% | −4.1% | +26.2% | −13.1% | +131% | 23.1% | -0.01 | −37.1% | — | $27B | — |
| CMS Regulated ElectricCMS Energy Corporation | 1/5 short0/3 long | +5.8% | −5.4% | −9.8% | −0.6% | −6.0% | +42.2% | +31.4% | +123% | 19.0% | 0.38 | −29.6% | — | $21B | — |
| ES Regulated ElectricEversource Energy | 1/5 short0/3 long | −2.2% | −10.6% | −2.2% | −0.5% | −6.0% | +40.5% | −7.0% | +72.0% | 23.9% | 0.06 | −41.7% | — | $25B | — |
| DTE Regulated ElectricDTE Energy Company | 0/5 short0/3 long | +2.5% | −10.6% | −9.8% | +1.7% | −6.7% | +48.3% | +32.2% | +127% | 19.0% | 0.39 | −42.4% | — | $27B | — |
How did DUK do year by year?
This table shows each investment's total return in every full calendar year since 1997, along with where DUK ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with DUK and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- DUK finished ahead of the S&P 500 in 12 of its 29 full calendar years, and behind it in each of the last three.
- Among its popular alternatives, NI came out ahead of DUK most often, in 20 of the 29 years both traded.
- Ranked against its popular alternatives each year, DUK finished in the top quarter in four of 29 years and in the bottom quarter in three. In 2025, it ranked 17 of 26.
Newest year first. Green marks a year in which the fund came out ahead of DUK; gray means the two finished within a fraction of a point. The rank row places DUK among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of DUK | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DUK This pageDuke Energy Corporation | — | +12.7% | +15.6% | −1.6% | +2.0% | +19.1% | +4.8% | +10.3% | +7.4% | +12.9% | +13.4% | −10.8% | +26.3% | +13.0% | +1.3% | +30.1% | +9.5% | +21.9% | −21.6% | +8.9% | +26.2% | +15.6% | +30.2% | +11.8% | −48.2% | −5.3% | +76.0% | −18.6% | +20.2% | +25.3% |
| Rank among alternatives | Top quarter in 4 of 29 | 17 of 26 | 19 of 26 | 10 of 26 | 13 of 25 | 12 of 25 | 6 of 25 | 23 of 25 | 9 of 25 | 17 of 25 | 18 of 25 | 19 of 25 | 18 of 25 | 15 of 25 | 17 of 25 | 3 of 25 | 14 of 25 | 8 of 25 | 10 of 24 | 15 of 24 | 10 of 24 | 9 of 24 | 3 of 24 | 19 of 24 | 21 of 24 | 13 of 24 | 5 of 24 | 12 of 24 | 8 of 23 | 14 of 23 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 17 of 29 | +17.7% | +24.9% | +26.2% | −18.2% | +28.7% | +18.3% | +31.2% | −4.6% | +21.7% | +12.0% | +1.2% | +13.5% | +32.3% | +16.0% | +1.9% | +15.1% | +26.4% | −36.8% | +5.1% | +15.9% | +4.8% | +10.7% | +28.2% | −21.6% | −11.7% | −9.8% | +20.4% | +28.7% | +33.5% |
| AEP American Electric Power Company, Inc. | 14 of 29 | +29.4% | +18.2% | −11.0% | +10.4% | +10.7% | −9.0% | +30.5% | +5.4% | +19.9% | +11.9% | −0.4% | +35.1% | +14.2% | +8.2% | +20.7% | +8.6% | +10.4% | −25.5% | +13.0% | +19.7% | +12.3% | +17.5% | +19.2% | −32.8% | −1.3% | +54.8% | −27.3% | −4.1% | +32.6% |
| PWR Quanta Services, Inc. | 15 of 27 | +33.7% | +46.6% | +51.7% | +24.6% | +59.5% | +77.8% | +35.8% | −22.9% | +12.2% | +72.1% | −28.7% | −10.1% | +15.7% | +26.7% | +8.1% | −4.4% | +5.3% | −24.6% | +33.5% | +49.3% | +64.7% | +9.5% | +109% | −77.3% | −52.1% | +71.0% | +28.0% | — | — |
| EVRG Evergy, Inc. | 15 of 29 | +22.4% | +23.4% | −13.3% | −4.9% | +28.0% | −11.7% | +18.4% | +10.9% | −3.5% | +36.8% | +6.9% | +33.2% | +17.5% | +4.2% | +20.3% | +22.2% | +13.0% | −16.5% | +4.1% | +26.1% | −2.0% | +17.3% | +115% | −37.2% | −26.4% | +58.7% | −44.3% | −18.3% | +48.3% |
| SO The Southern Company | 11 of 29 | +9.5% | +21.7% | +2.2% | +8.2% | +16.4% | +0.6% | +51.6% | −3.8% | +2.4% | +9.9% | −0.1% | +25.3% | +0.5% | −3.5% | +26.9% | +20.7% | −4.9% | +0.1% | +9.8% | +11.7% | +7.6% | +16.1% | +11.7% | +17.6% | +32.5% | +48.5% | −14.9% | +18.0% | +21.3% |
| ETN Eaton Corporation plc | 18 of 29 | −2.8% | +39.5% | +56.2% | −7.2% | +46.7% | +31.0% | +42.8% | −10.0% | +21.5% | +33.8% | −20.7% | −8.2% | +44.2% | +28.6% | −11.8% | +64.0% | +33.3% | −47.1% | +31.6% | +14.4% | −5.4% | +36.5% | +41.1% | +7.6% | +40.8% | +6.0% | +5.3% | −19.0% | +30.7% |
| ETR Entergy Corporation | 13 of 29 | +25.4% | +55.9% | −6.1% | +3.5% | +17.1% | −13.7% | +44.3% | +10.6% | +15.9% | +12.6% | −18.2% | +44.8% | +4.3% | −8.3% | +8.4% | −9.7% | +2.4% | −28.3% | +32.5% | +38.4% | +4.6% | +22.0% | +29.3% | +20.3% | −4.6% | +71.4% | −14.0% | +9.7% | +16.7% |
| NI NiSource Inc | 20 of 29 | +16.8% | +43.5% | +0.4% | +2.7% | +24.8% | −14.8% | +13.0% | +1.9% | +19.3% | +16.7% | +20.4% | +32.7% | +36.5% | +7.4% | +41.8% | +21.1% | +51.7% | −38.7% | −18.4% | +20.6% | −4.5% | +8.8% | +16.3% | −7.9% | −21.5% | +81.9% | −38.8% | +28.0% | +30.5% |
| AEE Ameren Corporation | 14 of 29 | +15.3% | +27.5% | −16.1% | +2.5% | +17.1% | +4.3% | +20.8% | +14.0% | +15.9% | +25.7% | −2.4% | +32.8% | +23.4% | −2.5% | +23.9% | +6.9% | −10.4% | −34.5% | +5.9% | +10.1% | +7.1% | +15.1% | +17.5% | +4.3% | −3.0% | +51.7% | −17.9% | +5.3% | +12.4% |
| NEE NextEra Energy, Inc. | 17 of 29 | +15.5% | +21.5% | −25.3% | −8.5% | +23.4% | +30.0% | +42.6% | +14.3% | +34.4% | +18.5% | +0.8% | +27.9% | +27.9% | +17.9% | +21.9% | +2.3% | +9.0% | −23.5% | +27.9% | +35.5% | +15.2% | +18.5% | +13.0% | +11.3% | −18.5% | +74.7% | −28.0% | +8.2% | +33.0% |
| ED Consolidated Edison, Inc. | 15 of 29 | +15.1% | +1.6% | −1.1% | +15.7% | +22.9% | −17.0% | +22.6% | −6.6% | +17.2% | +18.9% | +1.4% | +24.9% | +3.8% | −6.7% | +30.9% | +14.9% | +23.8% | −15.7% | +6.6% | +9.2% | +11.3% | +7.3% | +6.3% | +11.8% | +10.9% | +19.0% | −31.4% | +35.0% | +50.5% |
| PNW Pinnacle West Capital Corporation | 12 of 29 | +8.9% | +23.5% | −1.2% | +13.0% | −7.8% | −7.7% | +9.1% | +3.6% | +11.7% | +25.4% | −2.0% | +34.6% | +7.9% | +10.3% | +21.9% | +19.6% | +21.8% | −19.4% | −12.3% | +28.4% | −2.7% | +16.1% | +23.4% | −14.6% | −9.1% | +62.2% | −25.4% | +2.9% | +38.3% |
| D Dominion Energy, Inc. | 13 of 29 | +14.0% | +20.4% | −19.2% | −19.1% | +8.1% | −5.3% | +21.5% | −7.6% | +9.9% | +17.7% | −8.7% | +23.0% | +29.8% | +1.6% | +29.4% | +14.8% | +14.4% | −21.6% | +16.5% | +12.6% | +18.2% | +10.5% | +21.3% | −4.5% | −6.5% | +80.2% | −11.0% | +16.7% | +18.5% |
| XEL Xcel Energy Inc. | 14 of 29 | +13.9% | +12.3% | −8.7% | +6.4% | +4.4% | +7.8% | +32.4% | +5.9% | +20.9% | +17.1% | +3.8% | +33.4% | +8.8% | +0.5% | +22.3% | +16.1% | +20.3% | −13.8% | +2.0% | +30.6% | +6.1% | +12.4% | +61.7% | −57.1% | +0.8% | +58.8% | −24.9% | +0.2% | +33.9% |
| LNT Alliant Energy Corporation | 18 of 29 | +13.5% | +19.5% | −3.8% | −7.4% | +22.8% | −3.2% | +33.5% | +2.4% | +16.0% | +25.4% | −2.6% | +33.3% | +22.0% | +2.6% | +25.3% | +27.2% | +9.7% | −25.2% | +11.3% | +39.4% | +1.7% | +19.4% | +58.4% | −40.1% | +1.9% | +24.2% | −8.7% | +3.7% | +26.7% |
| PPL PPL Corporation | 10 of 29 | +11.4% | +24.0% | −3.8% | +0.4% | +12.8% | −16.9% | +33.4% | −3.0% | −5.2% | +4.1% | +6.2% | +26.1% | +10.3% | +2.4% | +17.6% | −14.1% | +10.2% | −39.0% | +49.3% | +26.2% | +14.8% | +26.1% | +31.3% | +3.9% | −21.0% | +105% | −14.6% | +31.1% | +12.4% |
| WEC WEC Energy Group, Inc. | 15 of 29 | +16.0% | +16.1% | −7.0% | −0.5% | +8.6% | +2.5% | +37.0% | +7.9% | +17.1% | +18.2% | +0.8% | +32.0% | +16.1% | +8.9% | +22.9% | +21.7% | +22.5% | −11.8% | +5.0% | +24.2% | +18.7% | +3.4% | +36.8% | +15.6% | +3.7% | +25.4% | −34.8% | +15.4% | +13.5% |
| FE FirstEnergy Corp. | 11 of 29 | +17.3% | +13.3% | −8.9% | +4.8% | +41.7% | −34.2% | +34.1% | +27.9% | +3.6% | +1.9% | −15.2% | +23.6% | −16.6% | −1.1% | +26.1% | −15.6% | +0.5% | −30.6% | +23.7% | +27.3% | +28.7% | +16.5% | +11.7% | −1.5% | +16.1% | +47.9% | −26.6% | +18.1% | +27.5% |
| CEG Constellation Energy Corporation | 3 of 3 | +58.8% | +92.7% | +37.3% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| EXC Exelon Corporation | 15 of 29 | +20.0% | +9.2% | −14.0% | +8.3% | +41.4% | −3.8% | +4.3% | +18.4% | +14.1% | +32.8% | −22.2% | +40.6% | −3.5% | −27.4% | +9.5% | −10.5% | −8.4% | −29.9% | +35.1% | +19.8% | +24.5% | +37.5% | +30.1% | +14.1% | −29.5% | +106% | −14.8% | +78.5% | +4.0% |
| PEG Public Service Enterprise Group Incorporated | 14 of 29 | −1.9% | +42.6% | +3.6% | −5.1% | +18.3% | +2.4% | +17.1% | +4.7% | +21.8% | +17.8% | −2.8% | +34.4% | +9.4% | −2.9% | +8.3% | −0.1% | +19.2% | −38.6% | +52.1% | +5.6% | +30.3% | +24.3% | +44.0% | −19.3% | −9.0% | +48.5% | −7.9% | +33.5% | +27.1% |
| SRE Sempra | 15 of 29 | +3.9% | +21.1% | −0.1% | +20.3% | +7.4% | −12.8% | +44.0% | +4.5% | +8.7% | +10.1% | −13.2% | +27.3% | +30.3% | +33.8% | +8.7% | −3.4% | +35.6% | −29.2% | +12.8% | +28.1% | +25.8% | +25.6% | +31.8% | +0.5% | +10.1% | +40.6% | −26.0% | +11.5% | +43.6% |
| AWK American Water Works Company, Inc. | 10 of 17 | +7.4% | −3.5% | −11.7% | −17.9% | +24.8% | +26.9% | +37.8% | +1.3% | +29.0% | +23.6% | +14.9% | +29.4% | +16.1% | +20.5% | +30.1% | +17.2% | +11.9% | — | — | — | — | — | — | — | — | — | — | — | — |
| CMS CMS Energy Corporation | 13 of 29 | +8.1% | +18.6% | −5.2% | +0.2% | +9.7% | −0.3% | +30.0% | +8.2% | +17.1% | +18.9% | +7.3% | +34.6% | +13.9% | +15.0% | +23.9% | +23.7% | +61.1% | −40.2% | +5.4% | +15.0% | +39.0% | +22.7% | −9.7% | −57.7% | −19.9% | +8.3% | −32.7% | +13.2% | +35.4% |
| ES Eversource Energy | 14 of 29 | +22.9% | −2.5% | −23.4% | −5.1% | +8.2% | +4.5% | +34.5% | +6.4% | +18.0% | +11.8% | −1.3% | +30.6% | +12.5% | +12.3% | +16.8% | +28.2% | +11.8% | −20.6% | +14.2% | +47.9% | +8.1% | −3.4% | +37.6% | −11.3% | −25.5% | +20.2% | +29.2% | +35.4% | −8.2% |
| DTE DTE Energy Company | 12 of 29 | +10.4% | +13.5% | −2.8% | +1.2% | +19.4% | −2.9% | +21.4% | +4.2% | +14.6% | +27.0% | −3.7% | +34.8% | +15.0% | +14.9% | +25.9% | +9.0% | +30.4% | −14.4% | −5.1% | +17.7% | +4.8% | +15.0% | −10.4% | +16.1% | +13.0% | +30.8% | −22.5% | +30.4% | +14.7% |
Risk and diversification
How DUK has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.
What were DUK's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents DUK's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
- In four of DUK's five worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: DUK fell 30.4% from October 1998 to March 2000, while the S&P 500 rose 47.1%.
- The slowest recovery came after DUK fell 71.9% from April 2001 to March 2003; it did not regain that peak until April 2007, four years later.
Green means DUK fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | DUK fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| Dot-com bust | −71.9% | −32.6% | Apr 2001 | Mar 2003 | 23 months | Apr 2007 | 4.1 years |
| 2008 financial crisis | −38.9% | −53.0% | Dec 2007 | Mar 2009 | 15 months | Sep 2010 | 18 months |
| Covid crash | −37.4% | −32.8% | Feb 2020 | Mar 2020 | 1 month | Apr 2021 | 13 months |
| Dot-com bust | −30.4% | +47.1% | Oct 1998 | Mar 2000 | 17 months | Aug 2000 | 5 months |
| Dot-com bust | −26.7% | +0.3% | Nov 2000 | Jan 2001 | 2 months | Apr 2001 | 3 months |
How did DUK do in stock market crashes?
This section measures how far DUK, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.
- Among its popular alternatives, SO held up best, falling less than DUK in seven of the ten crashes they both traded through.
- DUK fell less than the S&P 500 in six of the ten crashes it has traded through. The clearest case was the 2008 financial crisis, when DUK fell 38.9% and the S&P 500 fell 55.2%.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than DUK.
| Investment | Held up better | 2023 regional bank crisisMar 2023 | 2022 bear marketJan 2022 | Covid crashFeb 2020 | Late-2018 sell-offSep 2018 | February 2018 volatility shockFeb 2018 | 2015 China and oil sell-offAug 2015 | 2011 euro debt crisisJul 2011 | 2010 flash crashMay 2010 | 2008 financial crisisOct 2007 | Dot-com bustMar 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DUK This pageDuke Energy Corporation | — | −1.9% | −24.1% | −37.4% | −7.7% | −2.9% | −13.7% | −8.8% | 0.0% | −38.9% | −63.5% |
| SPY S&P 500State Street SPDR S&P 500 ETF | 3 of 10 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| AEP American Electric Power Company, Inc. | 4 of 10 | −2.0% | −22.3% | −32.4% | −8.5% | −5.5% | −10.6% | −9.3% | −0.8% | −48.0% | −62.8% |
| PWR Quanta Services, Inc. | 1 of 10 | −4.0% | −21.7% | −40.8% | −22.1% | −7.1% | −35.4% | −21.6% | −1.7% | −69.6% | −97.1% |
| EVRG Evergy, Inc. | 3 of 10 | −2.1% | −22.8% | −38.8% | −8.0% | −2.6% | −11.2% | −14.6% | −1.2% | −39.8% | −59.5% |
| SO The Southern Company | 7 of 10 | −1.2% | −23.3% | −38.1% | −9.6% | −1.9% | −9.4% | −5.2% | 0.0% | −30.4% | −19.0% |
| ETN Eaton Corporation plc | 1 of 10 | −4.5% | −26.3% | −44.5% | −26.0% | −6.7% | −22.3% | −34.6% | −1.4% | −68.5% | −31.6% |
| ETR Entergy Corporation | 3 of 10 | −3.0% | −21.9% | −41.3% | −8.0% | −4.1% | −13.2% | −13.4% | −1.1% | −49.4% | −28.4% |
| NI NiSource Inc | 3 of 10 | −3.5% | −24.3% | −30.6% | −9.9% | −5.3% | −10.1% | −12.3% | −1.4% | −58.6% | −51.0% |
| AEE Ameren Corporation | 4 of 10 | −2.5% | −22.9% | −29.1% | −10.2% | −4.2% | −11.5% | −13.2% | −1.9% | −60.6% | −17.8% |
| NEE NextEra Energy, Inc. | 3 of 10 | −1.7% | −24.0% | −35.6% | −8.2% | −6.9% | −12.9% | −12.8% | 0.0% | −47.9% | −32.2% |
| ED Consolidated Edison, Inc. | 7 of 10 | −1.2% | −22.0% | −30.9% | −10.3% | −4.1% | −9.8% | −5.9% | 0.0% | −30.1% | −25.5% |
| PNW Pinnacle West Capital Corporation | 2 of 10 | −4.0% | −24.0% | −39.3% | −8.4% | −4.3% | −11.2% | −13.4% | −2.2% | −43.8% | −53.3% |
| D Dominion Energy, Inc. | 3 of 10 | −3.2% | −28.0% | −33.3% | −7.5% | −3.1% | −13.3% | −7.7% | 0.0% | −41.4% | −44.4% |
| XEL Xcel Energy Inc. | 3 of 10 | −1.8% | −24.7% | −28.9% | −9.4% | −4.6% | −10.4% | −11.0% | −1.1% | −27.2% | −80.6% |
| LNT Alliant Energy Corporation | 2 of 10 | −2.7% | −25.2% | −32.9% | −11.0% | −4.5% | −13.3% | −15.5% | −1.3% | −49.5% | −45.0% |
| PPL PPL Corporation | 3 of 10 | −1.9% | −21.8% | −47.1% | −13.1% | −5.3% | −11.7% | −11.5% | 0.0% | −53.5% | −55.4% |
| WEC WEC Energy Group, Inc. | 5 of 10 | −1.9% | −23.6% | −32.3% | −9.8% | −4.0% | −9.6% | −12.0% | −0.6% | −24.4% | −21.3% |
| FE FirstEnergy Corp. | 2 of 10 | −4.1% | −25.2% | −36.4% | −9.5% | −3.5% | −15.6% | −12.5% | 0.0% | −54.2% | −34.4% |
| CEG Constellation Energy Corporation | 0 of 1 | −2.0% | — | — | — | — | — | — | — | — | — |
| EXC Exelon Corporation | 2 of 10 | −2.6% | −27.4% | −39.8% | −6.9% | −4.6% | −24.7% | −10.5% | −0.8% | −50.9% | −40.6% |
| PEG Public Service Enterprise Group Incorporated | 1 of 10 | −3.6% | −27.3% | −38.0% | −10.8% | −6.6% | −14.8% | −13.4% | −1.0% | −51.0% | −48.3% |
| SRE Sempra | 3 of 10 | −3.1% | −19.4% | −44.6% | −9.4% | −2.1% | −17.0% | −12.7% | −1.3% | −40.7% | −40.7% |
| AWK American Water Works Company, Inc. | 2 of 8 | −3.3% | −28.9% | −31.1% | −11.8% | −5.9% | −6.8% | −13.4% | −3.2% | — | — |
| CMS CMS Energy Corporation | 2 of 10 | −2.8% | −26.5% | −29.3% | −9.8% | −3.9% | −10.4% | −13.5% | −1.3% | −49.4% | −79.9% |
| ES Eversource Energy | 4 of 10 | −2.7% | −23.1% | −36.8% | −9.1% | −5.4% | −11.5% | −13.8% | −1.8% | −40.3% | −43.1% |
| DTE DTE Energy Company | 2 of 10 | −2.7% | −24.9% | −42.4% | −8.4% | −4.6% | −11.1% | −14.1% | −1.9% | −50.6% | −27.7% |
How closely does DUK move with the S&P 500?
Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares DUK with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- Over the past 10 years, DUK captured 35% of the S&P 500's gains in rising months and 19% of its losses in falling months, with a beta of 0.33. That is a defensive profile: it gave up some of the market's upside in exchange for smaller losses.
- Five of the 24 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than DUK's 1.88, led by ETR, PWR and SO.
Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than DUK's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| DUK This pageDuke Energy Corporation | 35% | 19% | 1.88 | 0.33 |
| ETR Entergy Corporation | 58% | 24% | 2.39 | 0.53 |
| PWR Quanta Services, Inc. | 141% | 61% | 2.31 | 1.22 |
| SO The Southern Company | 41% | 20% | 1.98 | 0.39 |
| AEP American Electric Power Company, Inc. | 44% | 23% | 1.93 | 0.40 |
| EXC Exelon Corporation | 40% | 21% | 1.91 | 0.37 |
| ED Consolidated Edison, Inc. | 31% | 18% | 1.75 | 0.22 |
| WEC WEC Energy Group, Inc. | 41% | 23% | 1.73 | 0.34 |
| XEL Xcel Energy Inc. | 41% | 24% | 1.68 | 0.35 |
| CMS CMS Energy Corporation | 35% | 23% | 1.56 | 0.28 |
| AEE Ameren Corporation | 51% | 33% | 1.52 | 0.38 |
| ETN Eaton Corporation plc | 114% | 80% | 1.43 | 1.16 |
| NEE NextEra Energy, Inc. | 62% | 44% | 1.40 | 0.45 |
| NI NiSource Inc | 43% | 32% | 1.34 | 0.44 |
| PNW Pinnacle West Capital Corporation | 34% | 27% | 1.23 | 0.38 |
| FE FirstEnergy Corp. | 40% | 33% | 1.22 | 0.36 |
| LNT Alliant Energy Corporation | 50% | 45% | 1.13 | 0.46 |
| EVRG Evergy, Inc. | 42% | 38% | 1.11 | 0.47 |
| DTE DTE Energy Company | 47% | 42% | 1.11 | 0.50 |
| PEG Public Service Enterprise Group Incorporated | 52% | 47% | 1.09 | 0.53 |
| AWK American Water Works Company, Inc. | 48% | 45% | 1.07 | 0.44 |
| SRE Sempra | 48% | 49% | 0.97 | 0.60 |
| ES Eversource Energy | 49% | 61% | 0.79 | 0.52 |
| PPL PPL Corporation | 52% | 77% | 0.67 | 0.65 |
| D Dominion Energy, Inc. | 43% | 70% | 0.61 | 0.52 |
What diversifies DUK?
Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with DUK's. Because such investments tend not to fall at the same time, pairing DUK with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in DUK into DXJ would have cut the portfolio's volatility by 16% over the past 5 years and raised its annual return (+7.2% for DUK alone, +11.2% for the mix).
- Among large ETFs, DXJ, SMH and DBEF have moved largely independently of DUK over the past 5 years, with correlations of 0.47 or lower, and each still earned a positive 5-year return.
- Among large stocks, CAH, CLS and FIX have moved largely independently of DUK over the past 5 years, with correlations of 0.28 or lower, and each still earned a positive 5-year return.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which DUK lost money. The last two columns show a portfolio that is 80% DUK and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2023 | 2015 | 2008 | 2002 | 2001 | 1999 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DUK Duke Energy Corporation (this page) | 1.00 | +43.9% | 0.50 | −1.6% | −10.8% | −21.6% | −48.2% | −5.3% | −18.6% | 16.1% | +7.2% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.15 | +225% | 1.34 | +42.0% | +7.7% | −20.8% | — | — | — | 13.5% | +11.2% |
| SMH TechnologyVanEck Semiconductor ETF | 0.08 | +323% | 0.97 | +73.4% | −0.3% | −44.7% | −47.0% | −14.6% | — | 15.1% | +13.9% |
| DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF | 0.47 | +85.0% | 0.96 | +20.1% | +4.1% | — | — | — | — | 14.1% | +8.7% |
| GLD CommoditiesSPDR Gold Shares | 0.36 | +126% | 0.96 | +12.7% | −10.7% | +4.9% | — | — | — | 14.5% | +9.7% |
| SPMO Broad MarketInvesco S&P 500 Momentum ETF | 0.21 | +136% | 0.93 | +17.6% | — | — | — | — | — | 14.3% | +10.4% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.42 | +177% | 0.93 | −0.6% | −21.5% | −39.0% | −14.8% | −18.2% | +18.1% | 15.8% | +10.7% |
| VLUE Broad MarketiShares MSCI USA Value Factor ETF | 0.34 | +109% | 0.90 | +14.2% | −4.1% | — | — | — | — | 14.8% | +9.6% |
| EWT TechnologyiShares MSCI Taiwan ETF | 0.19 | +153% | 0.89 | +29.0% | −12.9% | −45.3% | −24.4% | +2.1% | — | 14.7% | +10.6% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2023 | 2015 | 2008 | 2002 | 2001 | 1999 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DUK Duke Energy Corporation (this page) | 1.00 | +43.9% | 0.50 | −1.6% | −10.8% | −21.6% | −48.2% | −5.3% | −18.6% | 16.1% | +7.2% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.28 | +479% | 1.55 | +34.1% | +12.6% | −39.6% | −8.3% | −2.5% | −36.8% | 15.2% | +13.4% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.06 | +3,143% | 1.47 | +160% | −6.0% | −20.5% | −65.1% | −25.6% | +350% | 17.9% | +26.0% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.17 | +1,636% | 1.46 | +79.6% | +67.7% | −15.2% | −9.4% | +73.7% | −58.7% | 16.9% | +21.9% |
| MCK Medical - DistributionMcKesson Corporation | 0.33 | +413% | 1.44 | +24.1% | −4.5% | −40.4% | −27.2% | +4.9% | −71.3% | 15.3% | +12.8% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.27 | +690% | 1.41 | +30.4% | +17.4% | — | — | — | — | 15.9% | +15.3% |
Common questions
What was DUK's worst drawdown?
DUK's deepest decline since it began trading in 1986 was 71.9%, from April 2001 to March 2003. It took about four years from the low to climb back to its old high.
What were DUK's best and worst years?
Over 29 full calendar years, DUK's best year was 2000, when it returned 76.0%. Its worst was 2002, with a return of -48.2%.
Is there a better investment than DUK?
Among DUK's popular alternatives, ED earned more for the risk it took than DUK over the past 5 years, and its worst fall in 10 years was 30.9%, against 37.4% for DUK. Looking beyond its popular alternatives, EMLP (electric grid infrastructure theme) and IGF (electric grid infrastructure theme) earned more than DUK with less volatility over the past 5 years. EMLP returned 14.9% a year at 14.5% volatility, against 7.5% a year at 18.0%.
Is DUK more volatile than the S&P 500?
Yes. DUK's volatility over the past 5 years was 18.0%, 1.0 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, DUK's return lands within 18.0% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.
What is DUK's Sharpe ratio?
DUK's Sharpe ratio over the past 5 years was 0.50, against 0.79 for the S&P 500, so DUK earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.
How correlated is DUK with the S&P 500?
Over the past 5 years, DUK's monthly returns had a correlation of 0.35 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against DUK instead: the lower it is, the more that option would diversify a DUK holding.
What are the best alternatives to DUK?
Of the 25 popular alternatives we compared, four outperformed DUK in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: AEP, PWR and EVRG.
Did DUK outperform the S&P 500?
DUK finished ahead of the S&P 500 (SPY) in 12 of 29 full calendar years. In 2025, it returned +12.7%, against +17.7% for the index.
How did DUK do in stock market crashes?
DUK fell less than the S&P 500 (SPY) in six of the ten major crashes it has traded through, and further in three. The clearest case was the 2008 financial crisis, when DUK fell 38.9% and the S&P 500 fell 55.2%.
What diversifies DUK?
These had a low correlation with DUK over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.15), SMH (correlation 0.08) and DBEF (correlation 0.47); among large stocks, CAH (correlation 0.28), CLS (correlation 0.06) and FIX (correlation 0.17). A correlation near zero means the two have moved largely independently.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y; long-term periods are 3Y, 5Y, 10Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than DUK's. Returns within 0.5 points or 3% of DUK's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
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