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

> Source: EasyCompare research, https://easycompare.io/research/enb
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

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.

## Key findings

- **Right now:** ENB has gone against the market, falling 12.9% over the past 3 months while the S&P 500 rose 3.9%. Its oil & gas midstream peers split over the past 3 months: KMI (Kinder Morgan) rose 4.0%, while HESM (Hess Midstream) fell 22.2%.
- **Stock or market?:** The weakness is ENB's own: it fell 12.9% over the past 3 months while the oil & gas midstream ETF AMLP (Alerian MLP ETF) fell 1.6%. The S&P 500 rose 3.9%. Its oil & gas midstream peers did not move as one over the past 3 months: KMI (Kinder Morgan) rose 4.0%, while HESM (Hess Midstream) fell 22.2%.
- **Past 1 to 3 years:** Over the past year, ENB rose 8.5% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (84.0% against 89.3%). Even so, ENB lagged its oil & gas midstream peers in 2023, then moved up the pack in 2025.
- **Long term:** ENB turned $10,000 into $20,300 over the past decade, against $42,100 in the S&P 500. Even so, year by year, ENB has outpaced the S&P 500 69% of the time since 1997.
- **In a crash:** In the 2015 China and oil sell-off, ENB fell 34.6%, against 12.8% for the S&P 500. That was more than EPD (Enterprise Products Partners, 31.3%) but less than WMB (Williams Companies, 78.9%). ENB fell further than the S&P 500 in two of the last three sell-offs, including the 2015 China and oil sell-off (34.6% against 12.8%).
- **Diversification:** Against the S&P 500, ENB has a correlation of 0.50 over 5 years, more closely than 72% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Over 10 years, ENB's beta versus the S&P 500 was 0.73: 60% of the S&P 500's gains in rising months and 74% of its losses in falling ones.
- **Better options**
  - **Nearby categories and themes:** ATO (Atmos Energy, 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.
  - **Whole market:** 205 of the 3,633 stocks and funds worth at least $500 million earned more than ENB with less volatility over the past 5 years, among them VTI (Vanguard Morningstar Total Stock Market ETF), VOO (Vanguard S&P 500 ETF) and BRK-B (Berkshire Hathaway).

## 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.

- $10,000 invested in ENB at the end of September 1997 would have grown to $341,848 by September 2026, more than the $132,907 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of ENB, and AAPL finished highest, at $20,534,853.

## 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.

- 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.
- Over 29 full calendar years, ENB's best was 1997, when it returned 66.2%, and its worst was 2015, when it lost 33.3%. It lost money in eight of those years.
- ENB is 15.2% below its all-time high.

- Type: Stock, Energy (Oil & Gas Midstream)
- Trading since: October 17, 1986
- Market value: $107B
- Volatility (5 years): 18.9%; Sharpe ratio: 0.56
- Worst decline ever: −46.4%, from April 27, 2015 to January 20, 2016; back at its high by May 5, 2021

| Period | ENB total return |
| --- | --- |
| 1 month | −0.6% |
| 3 months | −12.9% |
| 6 months | −4.6% |
| year to date | +5.0% |
| 1 year | +8.5% |
| 3 years | +84.0% |
| 5 years | +54.3% |
| 10 years | +103% |

## 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.

- ENB 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.

| Measure | ENB | Rank |
| --- | --- | --- |
| 1-year return | +8.5% | 1,639 of 3,287 (top 50%) |
| 3-year return | +84.0% | 1,085 of 3,017 (top 36%) |
| 5-year return | +54.3% | 1,057 of 2,893 (top 37%) |
| 10-year return | +103% | 1,326 of 2,202 (top 61%) |
| Volatility, 5 years | 18.9% | 62 of 2,893 (top 3%) |
| Sharpe ratio, 5 years | 0.56 | 795 of 2,893 (top 28%) |
| Worst decline, past 10 years | −44.1% | 264 of 2,187 (top 13%) |

### 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).

- Five stocks and 200 ETFs worth at least $500 million sit in the green region: each earned more than ENB over the past 5 years with smaller price swings. That is 6% of the 3,633 screened.
- Among those with at least half ENB's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 41% less than ENB's 18.9%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.56 for ENB.
- Among ENB's popular alternatives, EPD is in the region. EPD earned 16.4% a year against 9.1% a year for ENB, at 17.1% volatility, 10% less than ENB's 18.9%.

### Is there a better investment than ENB?

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.

- 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.
- Across the whole market, 205 of the 3,633 stocks and funds worth at least $500 million earned more than ENB with less volatility over the past 5 years, among them VTI, VOO and BRK-B.

The 15 strongest of 205 investments that beat ENB over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with ENB | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ENB: Enbridge Inc. (this page) |  | +9.1% | 18.9% | 0.56 | −44.1% | +103% |  |  |
| [KO](https://easycompare.io/research/ko): The Coca-Cola Company | Food & Beverages | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.50 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VTI](https://easycompare.io/research/vti): Vanguard Morningstar Total Stock Market ETF | US Total Market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.50 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VOO](https://easycompare.io/research/voo): Vanguard S&P 500 ETF | US Large-Cap Equity | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.49 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.68 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | Pharmaceuticals | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| FTGC: First Trust Global Tactical Commodity Strategy Fund | Alternatives | +12.9% | 15.6% | 0.86 | −35.9% | +139% | 0.35 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | International Equity | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.71 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| FTLS: First Trust Long/Short Equity ETF | Broad Market | +10.2% | 10.4% | 0.99 | −20.6% | +158% | 0.48 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [VTV](https://easycompare.io/research/vtv): Vanguard Morningstar Value ETF | US Large-Cap Value | +12.1% | 13.7% | 0.90 | −36.8% | +235% | 0.68 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VIG](https://easycompare.io/research/vig): Vanguard Dividend Appreciation ETF | US Dividend Equity | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.61 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [VT](https://easycompare.io/research/vt): Vanguard Total World Stock ETF | Global Equity | +10.3% | 16.2% | 0.69 | −34.2% | +223% | 0.57 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [DYNF](https://easycompare.io/research/dynf): iShares U.S. Equity Factor Rotation Active ETF | US Multifactor Equity | +14.7% | 17.5% | 0.87 | −34.7% | — | 0.45 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| DFIV: Dimensional - International Value ETF | International Equity | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.72 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| AVLV: Avantis U.S. Large Cap Value ETF | US Large-Cap Value | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.61 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| HDV: iShares Core High Dividend ETF | US Dividend Equity | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.71 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## 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.

- Only MPLX and EPD were both more rewarding and calmer than ENB over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, ENB returned 9.1% a year, less than the S&P 500's 12.7%, with higher volatility (18.9% against 17.1%).

### 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.

- 17 of the 20 popular alternatives, led by TRGP, CNQ and SU, outperformed ENB in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- TRGP, CNQ and SU outperformed ENB in every long-term period and in all but one short-term period, the most consistent record in the group.
- DTM and TRP earned more for the risk they took than ENB (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of ENB | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| ENB: Enbridge Inc. (this page) | +8.5% | +84.0% | +54.3% | +103% |  |  | 0.56 |
| [TRGP](https://easycompare.io/research/trgp): Targa Resources Corp. | +98.1% | +260% | +473% | +829% | 5/5 short-term, 3/3 long-term | all-weather | 1.27 |
| [CNQ](https://easycompare.io/research/cnq): Canadian Natural Resources Limited | +87.7% | +90.4% | +224% | +433% | 5/5 short-term, 3/3 long-term | all-weather | 0.89 |
| [SU](https://easycompare.io/research/su): Suncor Energy Inc. | +111% | +161% | +318% | +295% | 5/5 short-term, 3/3 long-term | all-weather | 1.05 |
| PBA: Pembina Pipeline Corporation | +39.3% | +91.3% | +90.5% | +172% | 5/5 short-term, 3/3 long-term | all-weather | 0.71 |
| [KMI](https://easycompare.io/research/kmi): Kinder Morgan, Inc. | +26.9% | +129% | +136% | +163% | 5/5 short-term, 3/3 long-term | all-weather | 0.88 |
| [TRP](https://easycompare.io/research/trp): TC Energy Corporation | +24.9% | +136% | +66.7% | +160% | 5/5 short-term, 3/3 long-term | all-weather | 0.58 |
| [MPLX](https://easycompare.io/research/mplx): MPLX Lp | +27.2% | +105% | +187% | +350% | 4/5 short-term, 3/3 long-term | all-weather | 1.22 |
| [WMB](https://easycompare.io/research/wmb): The Williams Companies, Inc. | +14.9% | +125% | +200% | +288% | 4/5 short-term, 3/3 long-term | all-weather | 1.04 |
| WES: Western Midstream Partners, LP | +27.6% | +110% | +187% | +128% | 4/5 short-term, 3/3 long-term | all-weather | 0.91 |
| [LNG](https://easycompare.io/research/lng): Cheniere Energy, Inc. | +29.3% | +69.8% | +186% | +616% | 5/5 short-term, 2/3 long-term | consistent | 0.85 |
| [EQNR](https://easycompare.io/research/eqnr): Equinor ASA | +107% | +73.2% | +141% | +416% | 5/5 short-term, 2/3 long-term | consistent | 0.69 |
| [OKE](https://easycompare.io/research/oke): ONEOK, Inc. | +42.8% | +59.9% | +86.8% | +233% | 5/5 short-term, 2/3 long-term | consistent | 0.59 |
| PAA: Plains All American Pipeline, L.P. | +70.2% | +105% | +230% | +64.0% | 5/5 short-term, 2/3 long-term | consistent | 1.06 |
| PAGP: Plains GP Holdings LP | +73.6% | +113% | +228% | +56.3% | 5/5 short-term, 2/3 long-term | consistent | 1.05 |
| CQP: Cheniere Energy Partners, L.P. | +33.3% | +40.6% | +103% | +319% | 4/5 short-term, 2/3 long-term | consistent | 0.60 |
| [EPD](https://easycompare.io/research/epd): Enterprise Products Partners L.P. | +28.4% | +65.2% | +113% | +178% | 4/5 short-term, 2/3 long-term | consistent | 0.98 |
| AM: Antero Midstream Corporation | +17.2% | +95.0% | +149% | — | 4/5 short-term, 2/3 long-term | consistent | 0.84 |
| DTM: DT Midstream, Inc. | +14.4% | +147% | +199% | — | 1/5 short-term, 2/3 long-term |  | 1.00 |
| [SRE](https://easycompare.io/research/sre): Sempra | −8.0% | +32.7% | +47.5% | +114% | 2/5 short-term, 1/3 long-term |  | 0.46 |
| HESM: Hess Midstream LP | +0.8% | +27.1% | +67.9% | — | 0/5 short-term, 1/3 long-term |  | 0.52 |

### 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.

- ENB finished ahead of the S&P 500 in 20 of its 29 full calendar years, and ahead of it in each of the last two.
- Among its popular alternatives, MPLX came out ahead of ENB most often, in ten of the 13 years both traded.
- Ranked against its popular alternatives each year, ENB finished in the top quarter in three of 29 years and in the bottom quarter in three. In 2025, it ranked 6 of 21.

| Year | ENB | SPY |
| --- | --- | --- |
| 2025 | +19.5% | +17.7% |
| 2024 | +26.3% | +24.9% |
| 2023 | −1.1% | +26.2% |
| 2022 | +6.5% | −18.2% |
| 2021 | +30.9% | +28.7% |
| 2020 | −13.6% | +18.3% |
| 2019 | +36.0% | +31.2% |
| 2018 | −15.5% | −4.6% |
| 2017 | −3.7% | +21.7% |
| 2016 | +32.4% | +12.0% |

## 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.

- Not every decline was the market's doing: ENB fell 28.3% from June 2022 to October 2023, while the S&P 500 rose 4.6%.
- The slowest recovery came after ENB fell 46.4% from April 2015 to January 2016; it did not regain that peak until May 2021, five years later.
- In three of ENB's four worst declines, the S&P 500 held up better over the same dates.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −46.4% | April 27, 2015 | January 20, 2016 | May 5, 2021 | −10.5% | 2015 China and oil sell-off |
| −40.9% | May 23, 2008 | November 20, 2008 | December 1, 2009 | −44.6% | 2008 financial crisis |
| −31.8% | December 31, 1991 | November 30, 1992 | November 24, 1993 | — |  |
| −28.3% | June 7, 2022 | October 4, 2023 | September 9, 2024 | +4.6% | 2022 bear market |
| −27.7% | May 6, 1999 | January 25, 2000 | August 17, 2000 | +6.8% |  |

### 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.

- ENB fell less than the S&P 500 in eight of the ten crashes it has traded through. The clearest case was the dot-com bust, when ENB fell 21.0% and the S&P 500 fell 47.5%.
- None of its popular alternatives fell less than ENB in most of the crashes they both traded through.

| Crash | Dates | ENB fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −21.0% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −40.9% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | 0.0% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −13.2% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −34.6% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −3.2% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −13.8% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −43.4% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −23.9% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −1.5% | −3.4% |

### 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.

- Over the past 10 years, ENB captured 60% of the S&P 500's gains in rising months and 74% of its losses in falling months, with a beta of 0.73. Its share of the market's losses was larger than its share of the gains.
- 13 of the 17 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than ENB's 0.82, led by LNG, EQNR and CQP.
- LNG took just 30% of the S&P 500's losses, against 74% for ENB, while still keeping 79% of its gains.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| ENB: Enbridge Inc. (this page) | 60.0% | 74.0% | 0.73 |
| [TRGP](https://easycompare.io/research/trgp): Targa Resources Corp. | 156% | 157% | 1.85 |
| [CNQ](https://easycompare.io/research/cnq): Canadian Natural Resources Limited | 110% | 109% | 1.13 |
| [SU](https://easycompare.io/research/su): Suncor Energy Inc. | 90.0% | 90.0% | 0.96 |
| PBA: Pembina Pipeline Corporation | 79.0% | 92.0% | 1.02 |
| [KMI](https://easycompare.io/research/kmi): Kinder Morgan, Inc. | 68.0% | 82.0% | 0.82 |
| [TRP](https://easycompare.io/research/trp): TC Energy Corporation | 67.0% | 73.0% | 0.72 |
| [MPLX](https://easycompare.io/research/mplx): MPLX Lp | 87.0% | 76.0% | 1.16 |
| [WMB](https://easycompare.io/research/wmb): The Williams Companies, Inc. | 85.0% | 78.0% | 1.02 |
| WES: Western Midstream Partners, LP | 121% | 175% | 2.23 |
| [LNG](https://easycompare.io/research/lng): Cheniere Energy, Inc. | 79.0% | 30.0% | 0.77 |
| [EQNR](https://easycompare.io/research/eqnr): Equinor ASA | 79.0% | 52.0% | 0.62 |
| [OKE](https://easycompare.io/research/oke): ONEOK, Inc. | 103% | 126% | 1.38 |
| PAA: Plains All American Pipeline, L.P. | 81.0% | 127% | 1.36 |
| PAGP: Plains GP Holdings LP | 77.0% | 123% | 1.29 |
| CQP: Cheniere Energy Partners, L.P. | 72.0% | 48.0% | 0.69 |
| [EPD](https://easycompare.io/research/epd): Enterprise Products Partners L.P. | 81.0% | 94.0% | 0.93 |
| [SRE](https://easycompare.io/research/sre): Sempra | 48.0% | 49.0% | 0.60 |

### 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).

- Moving a fifth of the money in ENB into PTLC would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+10.2% for ENB alone, +10.6% for the mix).
- FIX made money in six of the eight calendar years in which ENB lost money.
- Among large ETFs, DXJ, SMH and GLD have moved largely independently of ENB over the past 5 years, with correlations of 0.31 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with ENB | 5Y return | Volatility | Sharpe | Rose in ENB's 8 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.30 | +225% | 19.1% | 1.34 | 4 of 8 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.16 | +323% | 36.9% | 0.97 | 3 of 8 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.31 | +126% | 18.9% | 0.96 | 4 of 8 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.34 | +136% | 20.8% | 0.93 | 3 of 8 |
| VLUE: iShares MSCI USA Value Factor ETF | 0.47 | +109% | 18.4% | 0.90 | 2 of 8 |
| EWT: iShares MSCI Taiwan ETF | 0.25 | +153% | 24.2% | 0.89 | 4 of 8 |
| EDIV: State Street SPDR S&P Emerging Markets Dividend ETF | 0.47 | +69.9% | 13.8% | 0.84 | 2 of 8 |
| PTLC: Pacer Trendpilot US Large Cap ETF | 0.23 | +57.4% | 11.8% | 0.83 | 3 of 8 |

## 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.

## More research

- [Targa Resources (TRGP) Performance, Alternatives and Market Rank](https://easycompare.io/research/trgp)
- [Canadian Natural Resources (CNQ) Performance, Alternatives and Market Rank](https://easycompare.io/research/cnq)
- [Suncor Energy (SU) Performance, Alternatives and Market Rank](https://easycompare.io/research/su)
- [Kinder Morgan (KMI) Performance, Alternatives and Market Rank](https://easycompare.io/research/kmi)
- [TC Energy (TRP) Performance, Alternatives and Market Rank](https://easycompare.io/research/trp)
- [MPLX Performance, Alternatives and Market Rank](https://easycompare.io/research/mplx)
- [Williams Companies (WMB) Performance, Alternatives and Market Rank](https://easycompare.io/research/wmb)
- [Cheniere Energy (LNG) Performance, Alternatives and Market Rank](https://easycompare.io/research/lng)
- [Equinor ASA (EQNR) Performance, Alternatives and Market Rank](https://easycompare.io/research/eqnr)
- [ONEOK (OKE) Performance, Alternatives and Market Rank](https://easycompare.io/research/oke)
- [Enterprise Products Partners (EPD) Performance, Alternatives and Market Rank](https://easycompare.io/research/epd)
- [Sempra (SRE) Performance, Alternatives and Market Rank](https://easycompare.io/research/sre)

## Explore further

- Full page with charts: https://easycompare.io/research/enb
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against ENB live: https://betterthanspy.com/?b=ENB&utm_source=easycompare&utm_medium=research