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Relative Intelligence · Oil & Gas Midstream

How Enbridge (ENB) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on ENB alone. It places ENB (Enbridge Inc.) 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 ENB stands in the market, and of the alternatives worth a closer look.

Period covered: ENB'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.

Rank the market against ENB →Chart ENB vs. 20 alternatives →
On this page12 sections

Key findings

How much would $10,000 in ENB have grown?

This chart tracks a hypothetical $10,000 investment in ENB over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of ENB over the same span and ENB'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.

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. 177 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of ENB; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$1,000$10,000$100,000$1M$10M199720022007201220172022$1,000$10,000$100,000$1M$10M19972004201120182025
  • AAPL$21M+205,249% total · +30.1% a year
  • MSFT$508,386+4,984% total · +14.5% a year
  • WMB$472,016+4,620% total · +14.2% a year
  • OKE$455,980+4,460% total · +14.1% a year
  • LNG$451,390+4,414% total · +14.0% a year
  • ENB$341,848+3,318% total · +13.0% a year
  • SU$282,795+2,728% total · +12.2% a year
  • SRE$198,869+1,889% total · +10.9% a year
  • TRP$189,438+1,794% total · +10.7% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,340 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of ENB; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000$60,000$70,000202120222023202420252026$0$20,000$40,000$60,000$80,000202120222023202420252026
  • TRGP$61,030+510% total · +43.6% a year
  • SU$40,398+304% total · +32.2% a year
  • CNQ$33,008+230% total · +27.0% a year
  • WMB$32,631+226% total · +26.7% a year
  • MPLX$30,642+206% total · +25.1% a year
  • KMI$23,609+136% total · +18.7% a year
  • EPD$23,444+134% total · +18.6% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • PBA$18,368+83.7% total · +12.9% a year
  • ENB$16,250+62.5% total · +10.2% a year
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ENB 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.

The company

Market value
$107B
Industry
Oil & Gas Midstream
Price history from
October 1986

Returns

Past 1 year
+8.5%total return
Past 3 years
+84.0%+22.5% a year
Past 5 years
+54.3%+9.1% a year
Past 10 years
+103%+7.3% a year
Best calendar year
+66.2%1997
Worst calendar year
−33.3%2015
Losing years
8 of 29full calendar years

Risk

Volatility
18.9%typical yearly swing, 5 years
Sharpe ratio
0.56return per unit of risk, 5 years
Worst decline ever
−46.4%Apr 2015 to Jan 2016
From its all-time high
−15.2%below the peak

ENB against the whole market

Where ENB ranks among every stock and fund, and what across the market has done better.

How does ENB rank among all stocks?

This section ranks ENB 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 ENB stacks up against its peers, these rankings show where it stands in the market as a whole.

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.

MeasureENBRankStanding
1-year return+8.5%1,639 of 3,287top 50%
3-year return+84.0%1,085 of 3,017top 36%
5-year return+54.3%1,057 of 2,893top 37%
10-year return+103%1,326 of 2,202bottom 41%
Volatility, 5 years18.9%62 of 2,893top 2%
Sharpe ratio, 5 years0.56795 of 2,893top 27%
Worst decline, past 10 years−44.1%264 of 2,187top 12%

What has beaten ENB 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). ENB sits where the dashed lines cross. Anything in the green box above and to the left earned more than ENB 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.

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 ENB; faint dots are 69 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.

7.5%10.0%12.5%15.0%17.5%20.0%22.5%25.0%27.5%7.5%10.0%12.5%15.0%17.5%20.0%22.5%25.0%27.5%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than ENBFTLS: +10.2% a year, volatility 10.4%VTV: +12.1% a year, volatility 13.7%VIG: +10.4% a year, volatility 14.1%VT: +10.3% a year, volatility 16.2%DYNF: +14.7% a year, volatility 17.5%DFIV: +14.8% a year, volatility 16.4%AVLV: +14.0% a year, volatility 16.9%HDV: +12.9% a year, volatility 13.0%SPHQ: +12.0% a year, volatility 16.7%RWL: +13.7% a year, volatility 14.4%DBEF: +13.1% a year, volatility 13.8%IOO: +15.7% a year, volatility 17.2%USMC: +14.1% a year, volatility 16.4%GCOW: +14.1% a year, volatility 13.6%IWX: +12.7% a year, volatility 13.8%DIVI: +13.4% a year, volatility 15.5%EQWL: +11.6% a year, volatility 15.0%HDEF: +12.8% a year, volatility 14.2%DIVB: +13.9% a year, volatility 15.4%FTHI: +10.3% a year, volatility 13.3%FLQL: +13.8% a year, volatility 16.3%HFXI: +11.4% a year, volatility 15.3%DDWM: +12.3% a year, volatility 13.4%DHS: +12.0% a year, volatility 13.9%RODM: +10.6% a year, volatility 13.5%FVAL: +12.4% a year, volatility 16.4%PPH: +11.6% a year, volatility 15.8%FTXH: +11.9% a year, volatility 16.9%EQL: +13.5% a year, volatility 14.5%ROUS: +12.3% a year, volatility 14.4%DGT: +13.8% a year, volatility 15.1%IDOG: +14.1% a year, volatility 15.6%QDEF: +12.7% a year, volatility 13.7%VSLU: +13.7% a year, volatility 16.2%DJD: +11.8% a year, volatility 13.3%PJP: +11.2% a year, volatility 16.6%FNDF: +13.6% a year, volatility 16.3%XLI: +11.5% a year, volatility 17.6%PVAL: +16.1% a year, volatility 15.1%AVDV: +13.9% a year, volatility 17.4%FXU: +11.2% a year, volatility 16.6%PJUL: +10.5% a year, volatility 8.6%FDVV: +13.2% a year, volatility 14.6%FJAN: +11.1% a year, volatility 10.5%FDL: +13.9% a year, volatility 14.4%BBCA: +11.4% a year, volatility 16.7%IDV: +12.8% a year, volatility 15.5%EMLP: +14.9% a year, volatility 14.5%EWU: +11.4% a year, volatility 16.4%WTV: +13.4% a year, volatility 17.0%COWZ: +11.4% a year, volatility 17.7%AVDE: +10.1% a year, volatility 16.4%JQUA: +13.6% a year, volatility 15.7%DIVO: +11.1% a year, volatility 11.9%FGD: +11.6% a year, volatility 14.8%TPYP: +16.9% a year, volatility 17.3%VFMF: +14.3% a year, volatility 17.6%EXI: +10.6% a year, volatility 17.3%FYLD: +13.1% a year, volatility 16.0%IPKW: +11.0% a year, volatility 17.0%DSTL: +11.3% a year, volatility 16.1%RAAX: +11.7% a year, volatility 15.6%INFL: +11.8% a year, volatility 17.8%DBA: +10.7% a year, volatility 13.8%SIXH: +10.2% a year, volatility 10.2%SSUS: +10.5% a year, volatility 15.4%MLPA: +15.2% a year, volatility 17.2%AUSF: +13.2% a year, volatility 13.6%JVAL: +12.0% a year, volatility 17.2%ENB: +9.1% a year, volatility 18.9%SPY (S&P 500): +12.7% a year, volatility 17.1%EPD: +16.4% a year, volatility 17.1%MPLX: +23.5% a year, volatility 18.8%WMB: +24.6% a year, volatility 24.0%DTM: +24.5% a year, volatility 25.2%ATO: +14.9% a year, volatility 18.4%NI: +15.1% a year, volatility 20.3%XOM: +27.1% a year, volatility 26.5%CVX: +19.5% a year, volatility 25.2%SHEL: +21.0% a year, volatility 24.8%TTE: +18.0% a year, volatility 25.8%KO: +14.7% a year, volatility 16.8%VTI: +11.5% a year, volatility 17.5%VOO: +12.8% a year, volatility 16.9%BRK-B: +13.4% a year, volatility 17.1%JNJ: +12.7% a year, volatility 17.9%FTGC: +12.9% a year, volatility 15.6%NVS: +17.1% a year, volatility 20.7%PTLC: +9.5% a year, volatility 11.8%LVHI: +17.0% a year, volatility 11.1%ENBSPY (S&P 500)EPDMPLXWMBDTMATONIXOMCVXSHELTTEKOVTIVOOFTGCNVSPTLCLVHI5.0%10.0%15.0%20.0%25.0%30.0%5.0%10.0%15.0%20.0%25.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than ENBFTLS: +10.2% a year, volatility 10.4%VTV: +12.1% a year, volatility 13.7%VIG: +10.4% a year, volatility 14.1%VT: +10.3% a year, volatility 16.2%DYNF: +14.7% a year, volatility 17.5%DFIV: +14.8% a year, volatility 16.4%AVLV: +14.0% a year, volatility 16.9%HDV: +12.9% a year, volatility 13.0%SPHQ: +12.0% a year, volatility 16.7%RWL: +13.7% a year, volatility 14.4%DBEF: +13.1% a year, volatility 13.8%IOO: +15.7% a year, volatility 17.2%USMC: +14.1% a year, volatility 16.4%GCOW: +14.1% a year, volatility 13.6%IWX: +12.7% a year, volatility 13.8%DIVI: +13.4% a year, volatility 15.5%EQWL: +11.6% a year, volatility 15.0%HDEF: +12.8% a year, volatility 14.2%DIVB: +13.9% a year, volatility 15.4%FTHI: +10.3% a year, volatility 13.3%FLQL: +13.8% a year, volatility 16.3%HFXI: +11.4% a year, volatility 15.3%DDWM: +12.3% a year, volatility 13.4%DHS: +12.0% a year, volatility 13.9%RODM: +10.6% a year, volatility 13.5%FVAL: +12.4% a year, volatility 16.4%PPH: +11.6% a year, volatility 15.8%FTXH: +11.9% a year, volatility 16.9%EQL: +13.5% a year, volatility 14.5%ROUS: +12.3% a year, volatility 14.4%DGT: +13.8% a year, volatility 15.1%IDOG: +14.1% a year, volatility 15.6%QDEF: +12.7% a year, volatility 13.7%VSLU: +13.7% a year, volatility 16.2%DJD: +11.8% a year, volatility 13.3%PJP: +11.2% a year, volatility 16.6%FNDF: +13.6% a year, volatility 16.3%XLI: +11.5% a year, volatility 17.6%PVAL: +16.1% a year, volatility 15.1%AVDV: +13.9% a year, volatility 17.4%FXU: +11.2% a year, volatility 16.6%PJUL: +10.5% a year, volatility 8.6%FDVV: +13.2% a year, volatility 14.6%FJAN: +11.1% a year, volatility 10.5%FDL: +13.9% a year, volatility 14.4%BBCA: +11.4% a year, volatility 16.7%IDV: +12.8% a year, volatility 15.5%EMLP: +14.9% a year, volatility 14.5%EWU: +11.4% a year, volatility 16.4%WTV: +13.4% a year, volatility 17.0%COWZ: +11.4% a year, volatility 17.7%AVDE: +10.1% a year, volatility 16.4%JQUA: +13.6% a year, volatility 15.7%DIVO: +11.1% a year, volatility 11.9%FGD: +11.6% a year, volatility 14.8%TPYP: +16.9% a year, volatility 17.3%VFMF: +14.3% a year, volatility 17.6%EXI: +10.6% a year, volatility 17.3%FYLD: +13.1% a year, volatility 16.0%IPKW: +11.0% a year, volatility 17.0%DSTL: +11.3% a year, volatility 16.1%RAAX: +11.7% a year, volatility 15.6%INFL: +11.8% a year, volatility 17.8%DBA: +10.7% a year, volatility 13.8%SIXH: +10.2% a year, volatility 10.2%SSUS: +10.5% a year, volatility 15.4%MLPA: +15.2% a year, volatility 17.2%AUSF: +13.2% a year, volatility 13.6%JVAL: +12.0% a year, volatility 17.2%ENB: +9.1% a year, volatility 18.9%SPY (S&P 500): +12.7% a year, volatility 17.1%EPD: +16.4% a year, volatility 17.1%MPLX: +23.5% a year, volatility 18.8%WMB: +24.6% a year, volatility 24.0%DTM: +24.5% a year, volatility 25.2%ATO: +14.9% a year, volatility 18.4%NI: +15.1% a year, volatility 20.3%XOM: +27.1% a year, volatility 26.5%CVX: +19.5% a year, volatility 25.2%SHEL: +21.0% a year, volatility 24.8%TTE: +18.0% a year, volatility 25.8%KO: +14.7% a year, volatility 16.8%VTI: +11.5% a year, volatility 17.5%VOO: +12.8% a year, volatility 16.9%BRK-B: +13.4% a year, volatility 17.1%JNJ: +12.7% a year, volatility 17.9%FTGC: +12.9% a year, volatility 15.6%NVS: +17.1% a year, volatility 20.7%PTLC: +9.5% a year, volatility 11.8%LVHI: +17.0% a year, volatility 11.1%ENBSPY (S&P 500)EPDMPLXWMBDTMATONIXOMCVXSHELTTEKOVTIVOONVSPTLCLVHI
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region
  • 2 with more than 1.6× ENB's volatility are in the table only

Is there a better investment than ENB?

Investments that beat ENB over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat ENB 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 ENB'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 ENB 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 ENB'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× ENB's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than ENB's.

Screen the whole market against ENB for any period in BetterThanSPYOpen these 21 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with ENB?lower diversifies moreExpenseper year
ENBEnbridge Inc. · this page
+9.1%18.9%0.56−44.1%+103%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.500.09%
Popular alternativesbest 6 shownThe investments people most often weigh against ENB. 18 of 20 passed at least one test.
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Higher return, lower volatilityHigher return in most periods+16.4%17.1%0.98−58.1%+178%0.61—
MPLXMPLX Lp · Oil & Gas Midstream
On the frontierHigher return, similar volatilityHigher return in most periods+23.5%18.8%1.22−75.2%+350%0.51—
TRGPTarga Resources Corp. · Oil & Gas Midstream
Higher return in most periods+41.8%31.7%1.27−90.8%+829%0.58—
SUSuncor Energy Inc. · Integrated Oil & Gas
Higher return in most periods+33.1%32.5%1.05−73.5%+295%0.45—
WMBThe Williams Companies, Inc. · Oil & Gas Midstream
Higher return in most periods+24.6%24.0%1.04−68.1%+288%0.65—
DTMDT Midstream, Inc. · Oil & Gas Midstream
Higher Sharpe, smaller worst decline+24.5%25.2%1.00−23.6%—0.63—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Oil & Gas Midstream and Oil & Gas and the categories next to it (Exploration & Production, Integrated Oil & Gas, Oilfield Services), plus ENB's specific themes. 8 of 77 passed at least one test.
ATOAtmos Energy Corporation · Gas Utilities · Natural Gas Distribution theme
Higher return, similar volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+14.9%18.4%0.85−32.9%+194%0.70—
NINiSource Inc · Gas Utilities · Natural Gas Distribution theme
Higher return, similar volatilityHigher Sharpe, smaller worst decline+15.1%20.3%0.80−30.9%+158%0.69—
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Higher return in most periods+27.1%26.5%1.04−61.0%+214%0.45—
CVXChevron Corporation · Integrated Oil & Gas
Higher return in most periods+19.5%25.2%0.84−55.8%+238%0.43—
SHELShell plc · Integrated Oil & Gas
Higher return in most periods+21.0%24.8%0.90−67.2%+233%0.39—
TTETotalEnergies SE · Integrated Oil & Gas
Higher return in most periods+18.0%25.8%0.78−59.6%+234%0.41—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 580 of 3,536 passed at least one test.
KOThe Coca-Cola Company · Food & Beverages
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+14.7%16.8%0.91−37.0%+204%0.50—
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+11.5%17.5%0.71−35.0%+302%0.500.03%
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.8%16.9%0.80−34.0%+324%0.490.03%
BRK-BBerkshire Hathaway Inc. · Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+13.4%17.1%0.82−29.6%+274%0.68—
JNJJohnson & Johnson · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.7%17.9%0.76−27.4%+196%0.39—
FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+12.9%15.6%0.86−35.9%+139%0.350.98%
NVSNovartis AG · Pharmaceuticals
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+17.1%20.7%0.87−26.8%+226%0.60—
PTLCPacer Trendpilot US Large Cap ETF · Broad Market
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+9.5%11.8%0.83−26.6%+188%0.230.60%
What these numbers mean for ENB
Annual return
ENB returned 9.1% 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 $15,400. 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
ENB's volatility over the past 5 years was 18.9%, 1.1 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ENB's return lands within 18.9% 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
ENB's Sharpe ratio over the past 5 years was 0.56, against 0.79 for the S&P 500, so ENB 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
ENB's worst fall from a peak to a low over the past 10 years was 44.1%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 44.1% fall takes a 78.8% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, ENB's monthly returns had a correlation of 0.50 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against ENB instead: the lower it is, the more that option would diversify a ENB holding. Guide: Correlation and diversification →
Show all 205 stocks and funds worth at least $500 million that earned more than ENB with less volatility

Out of 3,633 tested over 5 years. The strongest 77 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with ENBExpense
1
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.50—
2
VTIVanguard Morningstar Total Stock Market ETF · US Total Market
Whole market+11.5%17.5%0.71−35.0%+302%0.500.03%
3
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−34.0%+324%0.490.03%
4
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.68—
5
JNJJohnson & Johnson · Pharmaceuticals
Whole market+12.7%17.9%0.76−27.4%+196%0.39—
6
FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives
Whole market+12.9%15.6%0.86−35.9%+139%0.350.98%
7
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.710.40%
8
FTLSFirst Trust Long/Short Equity ETF · Broad Market
Whole market+10.2%10.4%0.99−20.6%+158%0.480.95%
9
VTVVanguard Morningstar Value ETF · US Large-Cap Value
Whole market+12.1%13.7%0.90−36.8%+235%0.680.03%
10
VIGVanguard Dividend Appreciation ETF · US Dividend Equity
Whole market+10.4%14.1%0.78−31.7%+258%0.610.04%
11
VTVanguard Total World Stock ETF · Global Equity
Whole market+10.3%16.2%0.69−34.2%+223%0.570.06%
12
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Whole market+14.7%17.5%0.87−34.7%—0.450.26%
13
DFIVDimensional - International Value ETF · International Equity
Whole market+14.8%16.4%0.93−25.4%—0.720.27%
14
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Whole market+14.0%16.9%0.86−19.5%—0.610.15%
15
HDViShares Core High Dividend ETF · US Dividend Equity
Whole market+12.9%13.0%1.00−37.0%+172%0.710.08%
16
SPHQInvesco S&P 500 Quality ETF · US Quality Equity
Whole market+12.0%16.7%0.76−31.6%+300%0.540.20%
17
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity
Whole market+13.7%14.4%0.97−36.1%+287%0.660.39%
18
DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity
Whole market+13.1%13.8%0.96−32.5%+206%0.540.35%
19
IOOiShares Global 100 ETF · Global Equity
Whole market+15.7%17.2%0.94−31.4%+361%0.470.40%
20
USMCPrincipal U.S. Mega-Cap ETF · Broad Market
Whole market+14.1%16.4%0.89−30.0%—0.470.12%
21
GCOWPacer Global Cash Cows Dividend ETF · International
Whole market+14.1%13.6%1.04−37.6%+168%0.740.60%
22
IWXiShares Russell Top 200 Value ETF · Broad Market
Whole market+12.7%13.8%0.94−35.8%+221%0.650.20%
23
DIVIFranklin International Core Dividend Tilt Index ETF · International
Whole market+13.4%15.5%0.89−27.7%+184%0.630.09%
24
EQWLInvesco S&P 100 Equal Weight ETF · Broad Market
Whole market+11.6%15.0%0.81−34.3%+291%0.610.30%
25
HDEFXtrackers MSCI EAFE High Dividend Yield Equity ETF · International
Whole market+12.8%14.2%0.92−36.4%+134%0.740.09%
26
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.620.05%
27
FTHIFirst Trust BuyWrite Income ETF · Dividend & Income
Whole market+10.3%13.3%0.81−32.7%+126%0.610.75%
28
FLQLFranklin U.S. Large Cap Multifactor Index ETF · Broad Market
Whole market+13.8%16.3%0.88−33.6%—0.480.15%
29
HFXINYLI FTSE International Equity Currency Neutral ETF · International
Whole market+11.4%15.3%0.79−32.4%+180%0.570.19%
30
DDWMWisdomTree Dynamic International Equity Fund · International
Whole market+12.3%13.4%0.94−35.0%+149%0.700.40%
31
DHSWisdomTree U.S. High Dividend Fund · Dividend & Income
Whole market+12.0%13.9%0.89−37.4%+156%0.720.38%
32
RODMHartford Multifactor Developed Markets (ex-US) ETF · International
Whole market+10.6%13.5%0.82−36.0%+141%0.740.29%
33
FVALFidelity Value Factor ETF · Broad Market
Whole market+12.4%16.4%0.80−37.3%+291%0.550.15%
34
PPHVanEck Pharmaceutical ETF · Healthcare
Whole market+11.6%15.8%0.78−29.7%+153%0.550.36%
35
FTXHFirst Trust Nasdaq Pharmaceuticals ETF · Healthcare
Whole market+11.9%16.9%0.75−32.1%+153%0.410.60%
36
EQLALPS Equal Sector Weight ETF · Broad Market
Whole market+13.5%14.5%0.94−34.2%+387%0.680.19%
37
ROUSHartford Multifactor US Equity ETF · Broad Market
Whole market+12.3%14.4%0.88−35.5%+238%0.620.19%
38
DGTState Street SPDR Global Dow ETF · International
Whole market+13.8%15.1%0.94−34.4%+261%0.680.50%
39
IDOGALPS International Sector Dividend Dogs ETF · International
Whole market+14.1%15.6%0.93−37.3%+180%0.700.50%
40
QDEFNorthern Trust Quality Dividend Defensive ETF · Dividend & Income
Whole market+12.7%13.7%0.94−35.7%+228%0.600.40%
41
VSLUApplied Finance Valuation Large Cap ETF · Broad Market
Whole market+13.7%16.2%0.88−23.8%—0.490.49%
42
DJDInvesco Dow Jones Industrial Average Dividend ETF · Dividend & Income
Whole market+11.8%13.3%0.91−34.7%+227%0.700.07%
43
PJPInvesco Pharmaceuticals ETF · Healthcare
Whole market+11.2%16.6%0.72−34.0%+135%0.430.58%
44
FNDFSchwab Fundamental International Large Company Index ETF · International Equity
Whole market+13.6%16.3%0.87−40.2%+194%0.680.25%
45
XLIState Street Industrial Select Sector SPDR ETF · US Industrials
Whole market+11.5%17.6%0.71−42.3%+246%0.580.08%
46
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Whole market+16.1%15.1%1.07−41.3%—0.620.56%
47
AVDVAvantis International Small Cap Value ETF · International Equity
Whole market+13.9%17.4%0.84−43.0%—0.640.36%
48
FXUFirst Trust Utilities AlphaDEX Fund · Utilities
Whole market+11.2%16.6%0.72−34.8%+138%0.730.61%
49
PJULInnovator U.S. Equity Power Buffer ETF · Broad Market
Whole market+10.5%8.6%1.20−18.2%—0.500.79%
50
FDVVFidelity High Dividend ETF · US Dividend Equity
Whole market+13.2%14.6%0.92−40.2%+253%0.680.15%
51
FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset
Whole market+11.1%10.5%1.05−13.6%—0.530.85%
52
FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity
Whole market+13.9%14.4%0.98−41.4%+199%0.710.43%
53
BBCAJPMorgan BetaBuilders Canada ETF · International Equity
Whole market+11.4%16.7%0.73−42.8%—0.790.19%
54
IDViShares International Select Dividend ETF · International Equity
Whole market+12.8%15.5%0.86−42.5%+159%0.720.50%
55
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Popular alternative+16.4%17.1%0.98−58.1%+178%0.61—
56
EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure
Whole market+14.9%14.5%1.04−43.6%+150%0.780.95%
57
EWUiShares MSCI United Kingdom ETF · International
Whole market+11.4%16.4%0.74−43.3%+130%0.720.50%
58
WTVWisdomTree U.S. Value Fund · Broad Market
Whole market+13.4%17.0%0.83−42.2%+303%0.650.12%
59
COWZPacer US Cash Cows 100 ETF · US Large-Cap Value
Whole market+11.4%17.7%0.70−38.7%—0.610.49%
60
AVDEAvantis International Equity ETF · Developed International Equity
Whole market+10.1%16.4%0.67−37.0%—0.680.23%
61
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Whole market+13.6%15.7%0.89−32.9%—0.520.12%
62
DIVOAmplify CWP Enhanced Dividend Income ETF · Equity Income
Whole market+11.1%11.9%0.95−30.0%—0.620.56%
63
FGDFirst Trust Dow Jones Global Select Dividend Index Fund · International
Whole market+11.6%14.8%0.82−44.8%+155%0.700.55%
64
TPYPTortoise North American Pipeline ETF · Energy
Whole market+16.9%17.3%0.99−51.9%+184%0.810.40%
65
VFMFVanguard U.S. Multifactor ETF · Broad Market
Whole market+14.3%17.6%0.85−41.3%—0.590.18%
66
EXIiShares Global Industrials ETF · Industrials
Whole market+10.6%17.3%0.67−39.6%+203%0.610.38%
67
FYLDCambria Foreign Shareholder Yield ETF · Dividend & Income
Whole market+13.1%16.0%0.85−44.6%+203%0.670.59%
68
IPKWInvesco International BuyBack Achievers ETF · International
Whole market+11.0%17.0%0.71−47.3%+197%0.630.55%
69
DSTLDistillate U.S. Fundamental Stability & Value ETF · Broad Market
Whole market+11.3%16.1%0.75−33.1%—0.620.39%
70
RAAXVanEck Real Assets ETF · Commodities
Whole market+11.7%15.6%0.79−33.9%—0.680.55%
71
INFLHorizon Kinetics Inflation Beneficiaries ETF · Broad Market
Whole market+11.8%17.8%0.72−21.3%—0.700.85%
72
DBAInvesco DB Agriculture Fund · Alternatives
Whole market+10.7%13.8%0.81−35.3%+62.2%0.390.90%
73
SIXHETC 6 Meridian Hedged Equity Index Option ETF · Broad Market
Whole market+10.2%10.2%1.00−11.7%—0.580.31%
74
SSUSStrategy Shares Day Hagan Smart Sector ETF · Broad Market
Whole market+10.5%15.4%0.73−23.8%—0.440.77%
75
MLPAGlobal X - MLP ETF · Energy
Whole market+15.2%17.2%0.91−74.3%+80.0%0.550.77%
76
AUSFGlobal X - Adaptive U.S. Factor ETF · International
Whole market+13.2%13.6%0.99−44.2%—0.660.27%
77
JVALJPMorgan U.S. Value Factor ETF · Broad Market
Whole market+12.0%17.2%0.75−40.4%—0.560.12%

ENB against its popular alternatives

The investments people most often weigh against ENB, compared period by period and year by year.

How do ENB'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 ENB, which divides the map into what did better or worse on each measure.

Green points earned more than ENB with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

15.0%17.5%20.0%22.5%25.0%27.5%30.0%32.5%35.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityENB: 9.1% a year, volatility 18.9%SPY (S&P 500): 12.7% a year, volatility 17.1%MPLX: 23.5% a year, volatility 18.8%EPD: 16.4% a year, volatility 17.1%SRE: 8.1% a year, volatility 23.0%TRGP: 41.8% a year, volatility 31.7%CNQ: 26.5% a year, volatility 32.5%SU: 33.1% a year, volatility 32.5%PBA: 13.8% a year, volatility 21.5%KMI: 18.7% a year, volatility 22.5%TRP: 10.8% a year, volatility 21.9%WMB: 24.6% a year, volatility 24.0%WES: 23.5% a year, volatility 27.6%LNG: 23.4% a year, volatility 30.2%EQNR: 19.2% a year, volatility 34.4%OKE: 13.3% a year, volatility 28.0%PAA: 27.0% a year, volatility 25.6%PAGP: 26.8% a year, volatility 26.1%CQP: 15.3% a year, volatility 32.9%AM: 20.1% a year, volatility 25.9%DTM: 24.5% a year, volatility 25.2%HESM: 10.9% a year, volatility 27.0%ENBSPY (S&P 500)MPLXEPDSRETRGPCNQSUPBAKMITRPWMBWESLNGEQNROKEPAAPAGPCQPAMDTMHESM15.0%20.0%25.0%30.0%35.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityENB: 9.1% a year, volatility 18.9%SPY (S&P 500): 12.7% a year, volatility 17.1%MPLX: 23.5% a year, volatility 18.8%EPD: 16.4% a year, volatility 17.1%SRE: 8.1% a year, volatility 23.0%TRGP: 41.8% a year, volatility 31.7%CNQ: 26.5% a year, volatility 32.5%SU: 33.1% a year, volatility 32.5%PBA: 13.8% a year, volatility 21.5%KMI: 18.7% a year, volatility 22.5%TRP: 10.8% a year, volatility 21.9%WMB: 24.6% a year, volatility 24.0%WES: 23.5% a year, volatility 27.6%LNG: 23.4% a year, volatility 30.2%EQNR: 19.2% a year, volatility 34.4%OKE: 13.3% a year, volatility 28.0%PAA: 27.0% a year, volatility 25.6%PAGP: 26.8% a year, volatility 26.1%CQP: 15.3% a year, volatility 32.9%AM: 20.1% a year, volatility 25.9%DTM: 24.5% a year, volatility 25.2%HESM: 10.9% a year, volatility 27.0%ENBSPY (S&P 500)MPLXEPDSRETRGPCNQSUKMIWMBWESLNGEQNROKEPAAPAGPCQPAMHESM
All figures
InvestmentAnnual returnVolatility
TRGP Targa Resources Corp.+41.8%31.7%
SU Suncor Energy Inc.+33.1%32.5%
PAA Plains All American Pipeline, L.P.+27.0%25.6%
PAGP Plains GP Holdings LP+26.8%26.1%
CNQ Canadian Natural Resources Limited+26.5%32.5%
WMB The Williams Companies, Inc.+24.6%24.0%
DTM DT Midstream, Inc.+24.5%25.2%
MPLX MPLX Lp+23.5%18.8%
WES Western Midstream Partners, LP+23.5%27.6%
LNG Cheniere Energy, Inc.+23.4%30.2%
AM Antero Midstream Corporation+20.1%25.9%
EQNR Equinor ASA+19.2%34.4%
KMI Kinder Morgan, Inc.+18.7%22.5%
EPD Enterprise Products Partners L.P.+16.4%17.1%
CQP Cheniere Energy Partners, L.P.+15.3%32.9%
PBA Pembina Pipeline Corporation+13.8%21.5%
OKE ONEOK, Inc.+13.3%28.0%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
HESM Hess Midstream LP+10.9%27.0%
TRP TC Energy Corporation+10.8%21.9%
ENB This pageEnbridge Inc.+9.1%18.9%
SRE Sempra+8.1%23.0%
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Has ENB consistently beaten its popular alternatives?

This section compares ENB 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 ENB helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than ENB 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.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
ENB Enbridge Inc. (this page)—−0.6%−12.9%−4.6%+5.0%+8.5%+84.0%+54.3%+103%18.9%0.56−44.1%—$107B—
TRGP QualifiedTarga Resources Corp.5/5 short3/3 longAll-weather+1.1%+4.1%+27.6%+59.0%+98.1%+260%+473%+829%31.7%1.27−90.8%—$63B—
CNQ QualifiedCanadian Natural Resources Limited5/5 short3/3 longAll-weather+12.2%+24.4%+27.6%+62.5%+87.7%+90.4%+224%+433%32.5%0.89−77.5%—$112B—
SU QualifiedSuncor Energy Inc.5/5 short3/3 longAll-weather+16.7%+26.8%+28.9%+75.6%+111%+161%+318%+295%32.5%1.05−73.5%—$93B—
PBA QualifiedPembina Pipeline Corporation5/5 short3/3 longAll-weather+8.0%−0.1%+20.5%+34.4%+39.3%+91.3%+90.5%+172%21.5%0.71−70.9%—$29B—
KMI QualifiedKinder Morgan, Inc.5/5 short3/3 longAll-weather+5.8%+4.0%+7.1%+24.6%+26.9%+129%+136%+163%22.5%0.88−55.1%—$75B—
TRP QualifiedTC Energy Corporation5/5 short3/3 longAll-weather+3.3%−8.8%+3.6%+13.8%+24.9%+136%+66.7%+160%21.9%0.58−41.6%—$64B—
MPLX QualifiedMPLX Lp4/5 short3/3 longAll-weather−1.2%+4.1%+8.8%+14.7%+27.2%+105%+187%+350%18.8%1.22−75.2%—$59B—
WMB QualifiedThe Williams Companies, Inc.4/5 short3/3 longAll-weather−1.8%−4.5%+0.6%+18.1%+14.9%+125%+200%+288%24.0%1.04−68.1%—$86B—
WES QualifiedWestern Midstream Partners, LP4/5 short3/3 longAll-weather−4.4%−2.6%+14.1%+19.4%+27.6%+110%+187%+128%27.6%0.91−91.9%—$18B—
LNG QualifiedCheniere Energy, Inc.5/5 short2/3 long+3.0%+7.2%+12.8%+44.3%+29.3%+69.8%+186%+616%30.2%0.85−57.5%—$59B—
EQNR QualifiedEquinor ASA5/5 short2/3 long+7.7%+23.4%+29.6%+92.7%+107%+73.2%+141%+416%34.4%0.69−66.8%—$109B—
OKE QualifiedONEOK, Inc.5/5 short2/3 long+1.1%+0.4%+13.5%+29.6%+42.8%+59.9%+86.8%+233%28.0%0.59−80.2%—$59B—
PAA QualifiedPlains All American Pipeline, L.P.5/5 short2/3 long+2.0%+6.7%+26.0%+48.2%+70.2%+105%+230%+64.0%25.6%1.06−87.9%—$18B—
PAGP QualifiedPlains GP Holdings LP5/5 short2/3 long+0.7%+7.8%+25.3%+49.6%+73.6%+113%+228%+56.3%26.1%1.05−88.0%—$5.4B—
CQP QualifiedCheniere Energy Partners, L.P.4/5 short2/3 long−2.1%+2.6%+5.7%+24.6%+33.3%+40.6%+103%+319%32.9%0.60−60.3%—$31B—
EPD QualifiedEnterprise Products Partners L.P.4/5 short2/3 long−3.9%−3.2%+3.2%+20.3%+28.4%+65.2%+113%+178%17.1%0.98−58.1%—$80B—
AM QualifiedAntero Midstream Corporation4/5 short2/3 long−2.2%−8.0%+0.5%+18.4%+17.2%+95.0%+149%—25.9%0.84−92.9%—$9.8B—
DTM Oil & Gas MidstreamDT Midstream, Inc.1/5 short2/3 long−2.1%−14.2%−6.1%+3.2%+14.4%+147%+199%—25.2%1.00−23.6%—$12B—
SRE Diversified UtilitiesSempra2/5 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—
HESM Oil & Gas MidstreamHess Midstream LP0/5 short1/3 long−22.5%−22.2%−13.6%−5.8%+0.8%+27.1%+67.9%—27.0%0.52−75.2%—$6.3B—
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How did ENB do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where ENB ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with ENB and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of ENB; gray means the two finished within a fraction of a point. The rank row places ENB among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of ENB20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
ENB This pageEnbridge Inc.—+19.5%+26.3%−1.1%+6.5%+30.9%−13.6%+36.0%−15.5%−3.7%+32.4%−33.3%+21.0%+3.7%+19.2%+37.0%+26.2%+47.3%−17.0%+21.4%+13.5%+29.5%+24.8%+57.5%+3.1%−1.3%+48.7%−8.9%+7.6%+66.2%
Rank among alternativesTop quarter in 3 of 296 of 2113 of 2120 of 2120 of 2113 of 208 of 207 of 2013 of 2013 of 1810 of 188 of 188 of 1815 of 177 of 156 of 146 of 129 of 121 of 126 of 119 of 116 of 118 of 115 of 116 of 116 of 104 of 94 of 93 of 72 of 7
SPY S&P 500State Street SPDR S&P 500 ETF9 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%
TRGP Targa Resources Corp.9 of 15+5.7%+110%+21.0%+43.7%+100%−32.5%+24.0%−19.9%−7.1%+131%−73.4%+23.2%+72.0%+34.2%+56.2%——————————————
CNQ Canadian Natural Resources Limited14 of 25+15.5%−1.3%+23.7%+39.9%+83.3%−19.1%+39.6%−28.9%+15.0%+51.6%−27.4%−6.8%+19.1%−21.7%−15.2%+24.4%+81.4%−44.9%+38.1%+7.6%+133%+71.3%+72.2%+24.3%−10.9%————
SU Suncor Energy Inc.16 of 29+29.7%+16.2%+6.0%+32.3%+55.0%−46.6%+22.1%−21.3%+15.8%+31.2%−16.3%−7.0%+8.6%+16.2%−23.8%+9.9%+82.6%−64.0%+38.4%+25.4%+79.0%+42.3%+61.2%−3.9%+29.7%+25.1%+42.2%−11.2%+68.4%
PBA Pembina Pipeline Corporation8 of 15+8.6%+13.1%+7.8%+17.8%+36.8%−31.0%+31.1%−14.0%+20.4%+51.6%−37.1%+8.0%+29.6%+4.0%+43.0%——————————————
KMI Kinder Morgan, Inc.8 of 14+4.7%+64.4%+4.2%+21.2%+23.8%−30.8%+44.4%−11.1%−11.1%+42.7%−62.8%+23.2%+6.3%+13.0%———————————————
TRP TC Energy Corporation11 of 29+24.0%+39.9%+6.1%−8.8%+21.7%−18.7%+57.0%−22.2%+12.9%+46.1%−29.0%+12.3%+1.0%+13.2%+20.0%+16.2%+34.2%−30.6%+21.9%+16.2%+32.9%+21.2%+55.8%+21.9%+14.8%+41.4%−36.3%−16.2%+35.6%
MPLX MPLX Lp10 of 13+20.6%+41.7%+22.5%+21.1%+54.0%−1.8%−8.2%−8.4%+8.9%−6.3%−44.8%+69.0%+46.9%————————————————
WMB The Williams Companies, Inc.16 of 29+14.9%+62.4%+11.8%+32.9%+38.4%−8.2%+14.2%−23.9%+2.0%+31.2%−39.2%+21.3%+22.8%+29.9%+37.3%+20.2%+49.6%−58.8%+38.8%+14.3%+49.2%+106%+457%−75.2%−31.0%+32.3%−0.5%+11.4%+54.4%
WES Western Midstream Partners, LP6 of 13+12.8%+43.6%+19.5%+29.2%+72.2%−19.2%−22.7%−20.3%−8.0%+22.3%−38.1%+55.5%+34.2%————————————————
LNG Cheniere Energy, Inc.15 of 29−8.7%+27.2%+15.0%+49.3%+69.5%−1.7%+3.2%+9.9%+29.9%+11.2%−47.1%+63.3%+130%+116%+57.5%+128%−15.1%−91.3%+13.0%−22.4%+16.9%+444%+815%+28.0%−58.6%−16.1%−27.9%−51.5%−48.1%
EQNR Equinor ASA12 of 24+7.7%−16.0%−0.8%+42.9%+64.6%−13.6%−1.0%+3.4%+23.4%+38.3%−16.6%−22.5%+1.4%+2.1%+12.7%−0.1%+57.8%−43.2%+22.8%+22.0%+51.4%+45.6%+43.8%+31.8%—————
OKE ONEOK, Inc.16 of 29−22.9%+50.1%+13.2%+18.9%+64.7%−43.5%+47.8%+6.3%−2.1%+150%−47.4%−5.3%+49.6%+1.5%+61.2%+29.3%+61.2%−32.4%+6.9%+67.9%−2.8%+33.5%+19.0%+11.7%−23.6%+100%−27.7%−7.3%+39.3%
PAA Plains All American Pipeline, L.P.10 of 27+14.3%+21.4%+39.2%+35.9%+22.4%−50.8%−2.4%+2.3%−31.3%+55.6%−51.9%+3.9%+19.5%+29.4%+24.4%+26.5%+65.4%−28.1%+7.8%+37.8%+11.4%+24.6%+44.0%+2.2%+47.7%+62.1%−16.8%——
PAGP Plains GP Holdings LP4 of 12+12.7%+23.6%+38.2%+31.7%+28.8%−51.2%+0.4%−3.5%−32.1%+50.5%−61.7%−1.7%—————————————————
CQP Cheniere Energy Partners, L.P.9 of 18+6.8%+14.3%−5.1%+44.8%+27.8%−5.0%+16.6%+30.1%+8.9%+18.0%−13.7%+18.0%+43.3%+26.7%−7.5%+82.0%+325%−72.1%———————————
EPD Enterprise Products Partners L.P.13 of 27+9.4%+28.0%+17.7%+18.3%+21.4%−23.6%+21.9%−1.4%+4.3%+12.5%−25.5%+13.3%+38.5%+12.0%+17.7%+41.3%+64.3%−30.1%+17.3%+29.3%−1.3%+12.6%+35.7%−11.8%+59.7%+86.1%+36.8%——
AM Antero Midstream Corporation6 of 8+24.4%+28.4%+25.8%+21.9%+39.5%+27.6%−24.5%−41.8%—————————————————————
DTM DT Midstream, Inc.4 of 4+24.1%+89.0%+4.7%+20.7%—————————————————————————
SRE Sempra14 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%
HESM Hess Midstream LP6 of 8+0.5%+26.4%+14.3%+16.6%+53.0%−5.2%+43.9%−8.6%—————————————————————
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Risk and diversification

How ENB 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 ENB's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents ENB'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.

Green means ENB fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringENB fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2015 China and oil sell-off−46.4%−10.5%Apr 2015Jan 20169 monthsMay 20215.3 years
2008 financial crisis−40.9%−44.6%May 2008Nov 20086 monthsDec 200913 months
No named crash−31.8%—Dec 1991Nov 199211 monthsNov 199312 months
2022 bear market−28.3%+4.6%Jun 2022Oct 202316 monthsSep 202411 months
No named crash−27.7%+6.8%May 1999Jan 20008 monthsAug 20007 months

How did ENB do in stock market crashes?

This section measures how far ENB, 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.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than ENB.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
ENB This pageEnbridge Inc.—−1.5%−23.9%−43.4%−13.8%−3.2%−34.6%−13.2%0.0%−40.9%−21.0%
SPY S&P 500State Street SPDR S&P 500 ETF2 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
TRGP Targa Resources Corp.0 of 7−5.6%−30.0%−88.0%−40.6%−5.1%−79.1%−22.8%———
CNQ Canadian Natural Resources Limited0 of 9−5.8%−32.2%−74.4%−32.1%−11.7%−38.1%−36.9%−0.2%−74.8%—
SU Suncor Energy Inc.0 of 10−6.4%−36.6%−65.3%−34.0%−7.0%−34.7%−42.2%−0.2%−79.9%−25.4%
PBA Pembina Pipeline Corporation1 of 7−4.0%−27.4%−70.9%−17.6%−5.8%−34.3%−12.0%———
KMI Kinder Morgan, Inc.1 of 7−3.2%−20.3%−55.1%−19.8%−4.0%−64.4%−16.2%———
TRP TC Energy Corporation3 of 10−4.0%−30.7%−41.6%−15.3%−5.2%−18.5%−12.8%−0.6%−45.4%−13.7%
MPLX MPLX Lp1 of 6−1.2%−18.4%−64.6%−17.9%−4.5%−66.8%————
WMB The Williams Companies, Inc.1 of 10−3.4%−23.0%−57.0%−25.4%−7.0%−78.9%−26.7%−3.4%−75.3%−98.0%
WES Western Midstream Partners, LP0 of 6−2.5%−23.5%−77.4%−17.6%−6.5%−63.0%————
LNG Cheniere Energy, Inc.1 of 10−1.3%−17.8%−46.1%−21.3%−5.1%−66.5%−62.4%0.0%−97.7%−84.4%
EQNR Equinor ASA0 of 9−2.8%−24.5%−49.0%−29.1%−4.4%−34.9%−19.9%−1.0%−68.4%—
OKE ONEOK, Inc.0 of 10−5.1%−29.2%−80.2%−25.5%−5.9%−51.3%−21.0%−0.8%−63.1%−42.0%
PAA Plains All American Pipeline, L.P.3 of 10−6.4%−19.9%−79.8%−22.3%−2.0%−55.5%−10.1%0.0%−49.3%−23.1%
PAGP Plains GP Holdings LP2 of 6−6.4%−22.3%−79.3%−20.6%−1.8%−72.9%————
CQP Cheniere Energy Partners, L.P.1 of 9−3.2%−27.9%−49.9%−17.5%−2.6%−34.5%−36.6%0.0%−76.5%—
EPD Enterprise Products Partners L.P.2 of 10−2.4%−18.0%−53.2%−18.6%−4.1%−31.3%−13.0%0.0%−44.4%−34.6%
AM Antero Midstream Corporation1 of 5−2.7%−21.9%−60.8%−43.1%−7.0%—————
DTM DT Midstream, Inc.1 of 2−3.7%−19.9%————————
SRE Sempra4 of 10−3.1%−19.4%−44.6%−9.4%−2.1%−17.0%−12.7%−1.3%−40.7%−40.7%
HESM Hess Midstream LP0 of 5−3.9%−28.7%−70.8%−28.9%−8.0%—————
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How closely does ENB 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 ENB with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

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 ENB's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
ENB This pageEnbridge Inc.60%74%0.820.73
LNG Cheniere Energy, Inc.79%30%2.650.77
EQNR Equinor ASA79%52%1.510.62
CQP Cheniere Energy Partners, L.P.72%48%1.490.69
MPLX MPLX Lp87%76%1.141.16
WMB The Williams Companies, Inc.85%78%1.081.02
CNQ Canadian Natural Resources Limited110%109%1.011.13
SU Suncor Energy Inc.90%90%1.000.96
TRGP Targa Resources Corp.156%157%0.991.85
SRE Sempra48%49%0.970.60
TRP TC Energy Corporation67%73%0.920.72
EPD Enterprise Products Partners L.P.81%94%0.860.93
PBA Pembina Pipeline Corporation79%92%0.851.02
KMI Kinder Morgan, Inc.68%82%0.830.82
OKE ONEOK, Inc.103%126%0.821.38
WES Western Midstream Partners, LP121%175%0.692.23
PAA Plains All American Pipeline, L.P.81%127%0.641.36
PAGP Plains GP Holdings LP77%123%0.631.29
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What diversifies ENB?

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 ENB's. Because such investments tend not to fall at the same time, pairing ENB with them can reduce a portfolio's overall swings.

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 ENB lost money. The last two columns show a portfolio that is 80% ENB and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe2023202020182017201520082001199980/20 mix volatility80/20 mix annual return
ENB Enbridge Inc. (this page)1.00+54.3%0.56−1.1%−13.6%−15.5%−3.7%−33.3%−17.0%−1.3%−8.9%19.0%+10.2%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.30+225%1.34+42.0%+3.9%−19.8%+22.8%+7.7%−20.8%——16.1%+13.7%
SMH TechnologyVanEck Semiconductor ETF0.16+323%0.97+73.4%+55.5%−9.1%+38.5%−0.3%−44.7%−14.6%—17.7%+16.4%
GLD CommoditiesSPDR Gold Shares0.31+126%0.96+12.7%+24.8%−1.9%+12.8%−10.7%+4.9%——16.6%+12.2%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.34+136%0.93+17.6%+28.2%−0.9%+27.8%————17.1%+12.8%
VLUE Broad MarketiShares MSCI USA Value Factor ETF0.47+109%0.90+14.2%−0.2%−11.1%+21.9%−4.1%———17.5%+12.0%
EWT TechnologyiShares MSCI Taiwan ETF0.25+153%0.89+29.0%+31.5%−9.9%+26.9%−12.9%−45.3%+2.1%—17.2%+13.1%
EDIV InternationalState Street SPDR S&P Emerging Markets Dividend ETF0.47+69.9%0.84+41.9%−10.0%−6.2%+28.2%−27.4%———16.6%+10.7%
PTLC Broad MarketPacer Trendpilot US Large Cap ETF0.23+57.4%0.83+16.8%−1.2%+1.5%+21.4%————15.9%+10.6%

Stocks

InvestmentCorrelation5Y returnSharpe2023202020182017201520082001199980/20 mix volatility80/20 mix annual return
ENB Enbridge Inc. (this page)1.00+54.3%0.56−1.1%−13.6%−15.5%−3.7%−33.3%−17.0%−1.3%−8.9%19.0%+10.2%
CAH Medical - DistributionCardinal Health, Inc.0.26+479%1.55+34.1%+10.1%−24.5%−12.7%+12.6%−39.6%−2.5%−36.8%17.3%+16.0%
CLS Hardware, Equipment & PartsCelestica Inc.0.05+3,143%1.47+160%−2.4%−16.3%−11.6%−6.0%−20.5%−25.6%+350%19.6%+28.9%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.27+1,636%1.46+79.6%+6.7%+0.8%+32.1%+67.7%−15.2%+73.7%−58.7%19.6%+24.5%
MCK Medical - DistributionMcKesson Corporation0.31+413%1.44+24.1%+27.1%−28.4%+12.0%−4.5%−40.4%+4.9%−71.3%17.4%+15.3%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.36+690%1.41+30.4%−27.4%−8.2%+34.8%+17.4%———18.5%+17.9%
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Common questions

What was ENB's worst drawdown?

ENB's deepest decline since it began trading in 1986 was 46.4%, from April 2015 to January 2016. It took about five years from the low to climb back to its old high.

What were ENB's best and worst years?

Over 29 full calendar years, ENB's best year was 1997, when it returned 66.2%. Its worst was 2015, with a return of -33.3%.

Is there a better investment than ENB?

Among ENB's popular alternatives, EPD earned more than ENB with less volatility over the past 5 years: 16.4% a year at 17.1% volatility, against 9.1% a year at 18.9%. Looking beyond its popular alternatives, ATO (natural gas distribution theme) earned more for the risk it took than ENB over the past 5 years, and its worst fall in 10 years was 32.9%, against 44.1% for ENB.

Is ENB more volatile than the S&P 500?

Yes. ENB's volatility over the past 5 years was 18.9%, 1.1 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ENB's return lands within 18.9% 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 ENB's Sharpe ratio?

ENB's Sharpe ratio over the past 5 years was 0.56, against 0.79 for the S&P 500, so ENB 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 ENB with the S&P 500?

Over the past 5 years, ENB's monthly returns had a correlation of 0.50 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against ENB instead: the lower it is, the more that option would diversify a ENB holding.

What are the best alternatives to ENB?

Of the 20 popular alternatives we compared, 17 outperformed ENB in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: TRGP, CNQ and SU.

Did ENB outperform the S&P 500?

ENB finished ahead of the S&P 500 (SPY) in 20 of 29 full calendar years. In 2025, it returned +19.5%, against +17.7% for the index.

How did ENB do in stock market crashes?

ENB fell less than the S&P 500 (SPY) in eight of the ten major crashes it has traded through, and further in two. The clearest case was the dot-com bust, when ENB fell 21.0% and the S&P 500 fell 47.5%.

What diversifies ENB?

These had a low correlation with ENB over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.30), SMH (correlation 0.16) and GLD (correlation 0.31); among large stocks, CAH (correlation 0.26), CLS (correlation 0.05) and FIX (correlation 0.27). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to ENB