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Relative Intelligence · Oil & Gas Midstream

How Enterprise Products Partners (EPD) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on EPD alone. It places EPD (Enterprise Products Partners L.P.) against 18 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 EPD stands in the market, and of the alternatives worth a closer look.

Period covered: EPD's full trading record, from July 1998 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 EPD →Chart EPD vs. 18 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in EPD over the past 28 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of EPD over the same span and EPD'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 1998 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. 133 of the 1,106 stocks and funds worth at least $500 million that traded the whole period ended ahead of EPD; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M$10M199820032008201320182023$10,000$100,000$1M$10M19982005201220192026
  • AAPL$12M+116,713% total · +28.7% a year
  • AMZN$3M+26,684% total · +22.1% a year
  • TSM$2M+23,057% total · +21.5% a year
  • VLO$2M+16,534% total · +20.0% a year
  • LNG$2M+16,009% total · +19.9% a year
  • EPD$513,562+5,036% total · +15.1% a year
  • OKE$422,121+4,121% total · +14.3% a year
  • WMB$377,615+3,676% total · +13.8% a year
  • TRP$197,872+1,879% total · +11.2% a year
  • SPY (S&P 500)$121,630+1,116% 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. 580 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of EPD; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$20,000$40,000$60,000$80,000$100,000202120222023202420252026$0$20,000$40,000$60,000$80,000$100,000202120222023202420252026
  • VLO$64,131+541% total · +45.0% a year
  • NGL$62,196+522% total · +44.1% a year
  • TRGP$61,030+510% total · +43.6% a year
  • PAGP$34,579+246% total · +28.2% a year
  • PAA$34,327+243% total · +28.0% a year
  • MPLX$30,642+206% total · +25.1% a year
  • LNG$28,953+190% total · +23.7% 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
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EPD 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
$80B
Industry
Oil & Gas Midstream
Price history from
July 1998

Returns

Past 1 year
+28.4%total return
Past 3 years
+65.2%+18.2% a year
Past 5 years
+113%+16.4% a year
Past 10 years
+178%+10.8% a year
Best calendar year
+86.1%2000
Worst calendar year
−30.1%2008
Losing years
6 of 27full calendar years

Risk

Volatility
17.1%typical yearly swing, 5 years
Sharpe ratio
0.98return per unit of risk, 5 years
Worst decline ever
−58.8%Sep 2014 to Mar 2020
From its all-time high
−6.0%below the peak

EPD against the whole market

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

How does EPD rank among all stocks?

This section ranks EPD 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 EPD 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.

MeasureEPDRankStanding
1-year return+28.4%1,015 of 3,287top 31%
3-year return+65.2%1,328 of 3,017top 44%
5-year return+113%613 of 2,893top 21%
10-year return+178%959 of 2,202top 44%
Volatility, 5 years17.1%35 of 2,893top 1%
Sharpe ratio, 5 years0.98111 of 2,893top 4%
Worst decline, past 10 years−58.1%810 of 2,187top 37%

What has beaten EPD 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). EPD sits where the dashed lines cross. Anything in the green box above and to the left earned more than EPD 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 EPD. 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

10.0%12.0%14.0%16.0%18.0%20.0%22.0%24.0%26.0%28.0%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 yearsMore return, less volatility than EPDEPD: +16.4% a year, volatility 17.1%SPY (S&P 500): +12.7% a year, volatility 17.1%MPLX: +23.5% a year, volatility 18.8%KMI: +18.7% a year, volatility 22.5%PAA: +27.0% a year, volatility 25.6%CVX: +19.5% a year, volatility 25.2%SHEL: +21.0% a year, volatility 24.8%E: +23.0% a year, volatility 25.6%LVHI: +17.0% a year, volatility 11.1%CAH: +42.1% a year, volatility 24.7%SDCI: +20.6% a year, volatility 18.4%ABBV: +26.1% a year, volatility 23.4%DXJ: +26.6% a year, volatility 19.1%MCK: +38.7% a year, volatility 25.0%JNJ: +12.7% a year, volatility 17.9%KO: +14.7% a year, volatility 16.8%EPDSPY (S&P 500)MPLXKMIPAACVXSHELELVHICAHSDCIABBVDXJMCKKO10.0%15.0%20.0%25.0%30.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than EPDEPD: +16.4% a year, volatility 17.1%SPY (S&P 500): +12.7% a year, volatility 17.1%MPLX: +23.5% a year, volatility 18.8%KMI: +18.7% a year, volatility 22.5%PAA: +27.0% a year, volatility 25.6%CVX: +19.5% a year, volatility 25.2%SHEL: +21.0% a year, volatility 24.8%E: +23.0% a year, volatility 25.6%LVHI: +17.0% a year, volatility 11.1%CAH: +42.1% a year, volatility 24.7%SDCI: +20.6% a year, volatility 18.4%ABBV: +26.1% a year, volatility 23.4%DXJ: +26.6% a year, volatility 19.1%MCK: +38.7% a year, volatility 25.0%JNJ: +12.7% a year, volatility 17.9%KO: +14.7% a year, volatility 16.8%EPDSPY (S&P 500)MPLXKMIPAACVXSHELELVHICAHSDCIABBVDXJMCKJNJKO
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • 3 with more than 1.6× EPD's volatility are in the table only

Is there a better investment than EPD?

Investments that beat EPD 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 EPD 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 EPD'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.

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 EPD'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× EPD's volatility counts as better.

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

Screen the whole market against EPD for any period in BetterThanSPYOpen these 18 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 EPD?lower diversifies moreExpenseper year
EPDEnterprise Products Partners L.P. · this page
+16.4%17.1%0.98−58.1%+178%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.420.09%
Popular alternativesbest 6 shownThe investments people most often weigh against EPD. 9 of 18 passed at least one test.
MPLXMPLX Lp · Oil & Gas Midstream
On the frontierHigher return, similar volatilityHigher return in most periods+23.5%18.8%1.22−75.2%+350%0.85—
VLOValero Energy Corporation · Oil & Gas
On the frontierHigher return in most periods+44.2%36.9%1.18−71.9%+1,061%0.61—
TRGPTarga Resources Corp. · Oil & Gas Midstream
Higher return in most periods+41.8%31.7%1.27−90.8%+829%0.78—
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Higher return in most periods+18.7%22.5%0.88−55.1%+163%0.72—
LNGCheniere Energy, Inc. · Oil & Gas
Higher return in most periods+23.4%30.2%0.85−57.5%+616%0.55—
PAAPlains All American Pipeline, L.P. · Oil & Gas Midstream
Higher return in most periods+27.0%25.6%1.06−87.9%+64.0%0.79—
Same and neighboring categories, and shared themesbest 3 shownEverything else in Oil & Gas Midstream and Oil & Gas and the categories next to it (Exploration & Production, Integrated Oil & Gas, Oilfield Services), plus EPD's specific themes. 3 of 74 passed at least one test.
CVXChevron Corporation · Integrated Oil & Gas
Higher return in most periods+19.5%25.2%0.84−55.8%+238%0.70—
SHELShell plc · Integrated Oil & Gas
Higher return in most periods+21.0%24.8%0.90−67.2%+233%0.53—
EEni S.p.A. · Integrated Oil & Gas
Higher return in most periods+23.0%25.6%0.94−61.4%+278%0.49—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 204 of 3,541 passed at least one test.
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.0%11.1%1.48−32.4%+194%0.600.40%
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher Sharpe, smaller worst declineHigher return in most periods+42.1%24.7%1.55−46.1%+349%0.31—
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
On the frontierHigher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods+20.6%18.4%1.12−45.7%—0.510.80%
ABBVAbbVie Inc. · Pharmaceuticals
Higher Sharpe, smaller worst declineHigher return in most periods+26.1%23.4%1.11−45.1%+603%0.00—
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher Sharpe, smaller worst declineHigher return in most periods+26.6%19.1%1.34−39.1%+428%0.320.48%
MCKMcKesson Corporation · Health Care Distribution
Higher Sharpe, smaller worst declineHigher return in most periods+38.7%25.0%1.44−38.1%+586%0.49—
JNJJohnson & Johnson · Pharmaceuticals
Higher return in most periodsSmaller losses in recent crashes+12.7%17.9%0.76−27.4%+196%0.27—
KOThe Coca-Cola Company · Food & Beverages
Higher return in most periodsSmaller losses in recent crashes+14.7%16.8%0.91−37.0%+204%0.34—
What these numbers mean for EPD
Annual return
EPD returned 16.4% 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 $21,300. 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
EPD's volatility over the past 5 years was 17.1%, 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, EPD's return lands within 17.1% 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
EPD's Sharpe ratio over the past 5 years was 0.98, against 0.79 for the S&P 500, so EPD earned more 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
EPD's worst fall from a peak to a low over the past 10 years was 58.1%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 58.1% fall takes a 138% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, EPD's monthly returns had a correlation of 0.42 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 EPD instead: the lower it is, the more that option would diversify a EPD holding. Guide: Correlation and diversification →

EPD against its popular alternatives

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

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

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

10.0%20.0%30.0%40.0%50.0%60.0%−10.0%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 volatilityEPD: 16.4% a year, volatility 17.1%SPY (S&P 500): 12.7% a year, volatility 17.1%OKE: 13.3% a year, volatility 28.0%TRP: 10.8% a year, volatility 21.9%ENB: 9.1% a year, volatility 18.9%DOW: −7.6% a year, volatility 34.1%GEL: 10.6% a year, volatility 39.4%HESM: 10.9% a year, volatility 27.0%VLO: 44.2% a year, volatility 36.9%TRGP: 41.8% a year, volatility 31.7%LNG: 23.4% a year, volatility 30.2%MPLX: 23.5% a year, volatility 18.8%PAA: 27.0% a year, volatility 25.6%PAGP: 26.8% a year, volatility 26.1%KMI: 18.7% a year, volatility 22.5%NGL: 40.6% a year, volatility 57.1%WMB: 24.6% a year, volatility 24.0%WES: 23.5% a year, volatility 27.6%DTM: 24.5% a year, volatility 25.2%EOG: 16.6% a year, volatility 32.3%EPDSPY (S&P 500)OKEENBDOWGELHESMVLOTRGPLNGMPLXPAAPAGPKMINGLWMBWESDTMEOG10.0%20.0%30.0%40.0%50.0%60.0%−10.0%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 volatilityEPD: 16.4% a year, volatility 17.1%SPY (S&P 500): 12.7% a year, volatility 17.1%OKE: 13.3% a year, volatility 28.0%TRP: 10.8% a year, volatility 21.9%ENB: 9.1% a year, volatility 18.9%DOW: −7.6% a year, volatility 34.1%GEL: 10.6% a year, volatility 39.4%HESM: 10.9% a year, volatility 27.0%VLO: 44.2% a year, volatility 36.9%TRGP: 41.8% a year, volatility 31.7%LNG: 23.4% a year, volatility 30.2%MPLX: 23.5% a year, volatility 18.8%PAA: 27.0% a year, volatility 25.6%PAGP: 26.8% a year, volatility 26.1%KMI: 18.7% a year, volatility 22.5%NGL: 40.6% a year, volatility 57.1%WMB: 24.6% a year, volatility 24.0%WES: 23.5% a year, volatility 27.6%DTM: 24.5% a year, volatility 25.2%EOG: 16.6% a year, volatility 32.3%EPDSPY (S&P 500)ENBDOWGELVLOTRGPLNGMPLXPAAPAGPKMINGLEOG
All figures
InvestmentAnnual returnVolatility
VLO Valero Energy Corporation+44.2%36.9%
TRGP Targa Resources Corp.+41.8%31.7%
NGL NGL Energy Partners LP+40.6%57.1%
PAA Plains All American Pipeline, L.P.+27.0%25.6%
PAGP Plains GP Holdings LP+26.8%26.1%
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%
KMI Kinder Morgan, Inc.+18.7%22.5%
EOG EOG Resources, Inc.+16.6%32.3%
EPD This pageEnterprise Products Partners L.P.+16.4%17.1%
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%
GEL Genesis Energy, L.P.+10.6%39.4%
ENB Enbridge Inc.+9.1%18.9%
DOW Dow Inc.−7.6%34.1%
Open these 20 in EasyCompare

Has EPD consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than EPD 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
EPD Enterprise Products Partners L.P. (this page)—−3.9%−3.2%+3.2%+20.3%+28.4%+65.2%+113%+178%17.1%0.98−58.1%—$80B—
VLO QualifiedValero Energy Corporation5/5 short3/3 longAll-weather+10.2%+38.9%+93.2%+166%+176%+259%+524%+1,061%36.9%1.18−71.9%—$125B—
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—
LNG QualifiedCheniere Energy, Inc.5/5 short3/3 longAll-weather+3.0%+7.2%+12.8%+44.3%+29.3%+69.8%+186%+616%30.2%0.85−57.5%—$59B—
MPLX QualifiedMPLX Lp3/5 short3/3 long−1.2%+4.1%+8.8%+14.7%+27.2%+105%+187%+350%18.8%1.22−75.2%—$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—
KMI QualifiedKinder Morgan, Inc.4/5 short2/3 long+5.8%+4.0%+7.1%+24.6%+26.9%+129%+136%+163%22.5%0.88−55.1%—$75B—
NGL QualifiedNGL Energy Partners LP4/5 short2/3 long−4.9%+0.5%+12.3%+56.4%+146%+270%+449%+37.4%57.1%0.88−93.2%—$1.9B—
WMB Oil & Gas MidstreamThe Williams Companies, Inc.1/5 short3/3 long−1.8%−4.5%+0.6%+18.1%+14.9%+125%+200%+288%24.0%1.04−68.1%—$86B—
WES Oil & Gas MidstreamWestern Midstream Partners, LP2/5 short2/3 long−4.4%−2.6%+14.1%+19.4%+27.6%+110%+187%+128%27.6%0.91−91.9%—$18B—
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—
OKE Oil & Gas MidstreamONEOK, Inc.5/5 short1/3 long+1.1%+0.4%+13.5%+29.6%+42.8%+59.9%+86.8%+233%28.0%0.59−80.2%—$59B—
TRP Oil & Gas MidstreamTC Energy Corporation1/5 short1/3 long+3.3%−8.8%+3.6%+13.8%+24.9%+136%+66.7%+160%21.9%0.58−41.6%—$64B—
ENB Oil & Gas MidstreamEnbridge Inc.1/5 short1/3 long−0.6%−12.9%−4.6%+5.0%+8.5%+84.0%+54.3%+103%18.9%0.56−44.1%—$107B—
EOG Oil & Gas Exploration & ProductionEOG Resources, Inc.5/5 short0/3 long+12.4%+12.7%+24.0%+51.9%+53.1%+31.9%+115%+131%32.3%0.64−77.1%—$83B—
DOW ChemicalsDow Inc.4/5 short0/3 long+8.6%+2.2%−14.7%+30.8%+48.8%−25.6%−32.7%—34.1%-0.06−64.4%—$22B—
GEL Oil & Gas MidstreamGenesis Energy, L.P.0/5 short0/3 long−6.2%−2.8%−13.4%−8.1%−4.9%+44.2%+65.5%−21.8%39.4%0.45−89.3%—$1.7B—
HESM Oil & Gas MidstreamHess Midstream LP0/5 short0/3 long−22.5%−22.2%−13.6%−5.8%+0.8%+27.1%+67.9%—27.0%0.52−75.2%—$6.3B—
Open these 19 in EasyCompare

How did EPD do year by year?

This table shows each investment's total return in every full calendar year since 1999, along with where EPD ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with EPD 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 EPD; gray means the two finished within a fraction of a point. The rank row places EPD among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of EPD202520242023202220212020201920182017201620152014201320122011201020092008200720062005200420032002200120001999
EPD This pageEnterprise Products Partners L.P.—+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%
Rank among alternativesTop quarter in 6 of 2712 of 199 of 198 of 1913 of 1916 of 189 of 1810 of 174 of 176 of 1612 of 164 of 168 of 169 of 1512 of 138 of 113 of 103 of 104 of 107 of 104 of 108 of 1010 of 107 of 109 of 101 of 104 of 101 of 10
SPY S&P 500State Street SPDR S&P 500 ETF9 of 27+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%
VLO Valero Energy Corporation12 of 27+37.0%−2.9%+5.9%+75.0%+40.3%−35.7%+30.3%−15.7%+40.0%+0.7%+46.8%+0.3%+65.0%+66.3%−7.8%+39.6%−20.3%−68.5%+37.9%−0.4%+128%+97.9%+26.6%−2.1%+3.6%+88.6%−4.8%
TRGP Targa Resources Corp.10 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%————————————
LNG Cheniere Energy, Inc.14 of 27−8.7%+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%
MPLX MPLX Lp9 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%——————————————
PAA Plains All American Pipeline, L.P.14 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 LP5 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%———————————————
KMI Kinder Morgan, Inc.7 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%—————————————
NGL NGL Energy Partners LP6 of 14+100%−10.4%+360%−33.5%−24.2%−75.3%+34.0%−22.2%−25.6%+116%−56.5%−13.8%+58.6%+23.0%—————————————
WMB The Williams Companies, Inc.13 of 27+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%
WES Western Midstream Partners, LP8 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%——————————————
DTM DT Midstream, Inc.3 of 4+24.1%+89.0%+4.7%+20.7%———————————————————————
OKE ONEOK, Inc.12 of 27−22.9%+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%
TRP TC Energy Corporation13 of 27+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%
ENB Enbridge Inc.14 of 27+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%
EOG EOG Resources, Inc.13 of 27−11.4%+4.3%−2.0%+56.9%+88.6%−38.6%−2.8%−18.7%+7.5%+44.0%−22.5%+10.3%+39.7%+23.4%+8.5%−5.5%+47.4%−25.0%+43.6%−14.6%+106%+55.3%+16.1%+2.5%−28.1%+212%+2.5%
DOW Dow Inc.1 of 6−37.4%−22.8%+14.7%−6.6%+6.8%+7.9%—————————————————————
GEL Genesis Energy, L.P.14 of 27+61.8%−8.4%+19.9%+1.1%+85.2%−66.2%+22.6%−9.2%−32.3%+6.3%−8.4%−15.8%+53.7%+35.2%+13.0%+49.8%+140%−60.3%+24.9%+76.2%−2.0%+35.8%+108%+28.6%+24.4%−38.6%−35.7%
HESM Hess Midstream LP3 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 EPD 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 EPD's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents EPD's five deepest drawdowns since it began trading in 1998, 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 EPD fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringEPD fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2015 China and oil sell-off−58.8%+32.7%Sep 2014Mar 20205.5 yearsMar 20222 years
2008 financial crisis−44.4%−42.4%May 2008Nov 20086 monthsSep 200910 months
Dot-com bust−34.6%−10.8%Feb 2002Jun 20024 monthsMay 200311 months
No named crash−33.3%+6.0%Jul 1998Dec 19985 monthsAug 19998 months
2022 bear market−18.0%−11.6%Jun 2022Sep 20223 monthsApr 20237 months

How did EPD do in stock market crashes?

This section measures how far EPD, 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 EPD.

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
EPD This pageEnterprise Products Partners L.P.—−2.4%−18.0%−53.2%−18.6%−4.1%−31.3%−13.0%0.0%−44.4%−34.6%
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%
VLO Valero Energy Corporation1 of 10−3.5%−31.9%−61.3%−42.0%−6.9%−24.2%−35.6%−4.3%−80.7%−54.1%
TRGP Targa Resources Corp.0 of 7−5.6%−30.0%−88.0%−40.6%−5.1%−79.1%−22.8%———
LNG Cheniere Energy, Inc.2 of 10−1.3%−17.8%−46.1%−21.3%−5.1%−66.5%−62.4%0.0%−97.7%−84.4%
MPLX MPLX Lp2 of 6−1.2%−18.4%−64.6%−17.9%−4.5%−66.8%————
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 LP1 of 6−6.4%−22.3%−79.3%−20.6%−1.8%−72.9%————
KMI Kinder Morgan, Inc.0 of 7−3.2%−20.3%−55.1%−19.8%−4.0%−64.4%−16.2%———
NGL NGL Energy Partners LP1 of 7−12.5%−53.7%−84.2%−24.0%−18.1%−77.1%−9.8%———
WMB The Williams Companies, Inc.0 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, LP1 of 6−2.5%−23.5%−77.4%−17.6%−6.5%−63.0%————
DTM DT Midstream, Inc.0 of 2−3.7%−19.9%————————
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%
TRP TC Energy Corporation4 of 10−4.0%−30.7%−41.6%−15.3%−5.2%−18.5%−12.8%−0.6%−45.4%−13.7%
ENB Enbridge Inc.6 of 10−1.5%−23.9%−43.4%−13.8%−3.2%−34.6%−13.2%0.0%−40.9%−21.0%
EOG EOG Resources, Inc.0 of 10−7.4%−33.4%−61.5%−37.3%−11.3%−31.7%−35.8%−1.5%−68.0%−52.7%
DOW Dow Inc.0 of 3−6.9%−37.1%−54.1%———————
GEL Genesis Energy, L.P.0 of 10−2.3%−38.8%−80.1%−27.5%−9.0%−52.3%−18.0%0.0%−70.1%−72.7%
HESM Hess Midstream LP0 of 5−3.9%−28.7%−70.8%−28.9%−8.0%—————
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How closely does EPD 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 EPD 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 EPD's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
EPD This pageEnterprise Products Partners L.P.81%94%0.860.93
LNG Cheniere Energy, Inc.79%30%2.650.77
VLO Valero Energy Corporation142%114%1.241.31
MPLX MPLX Lp87%76%1.141.16
WMB The Williams Companies, Inc.85%78%1.081.02
TRGP Targa Resources Corp.156%157%0.991.85
TRP TC Energy Corporation67%73%0.920.72
KMI Kinder Morgan, Inc.68%82%0.830.82
OKE ONEOK, Inc.103%126%0.821.38
ENB Enbridge Inc.60%74%0.820.73
WES Western Midstream Partners, LP121%175%0.692.23
EOG EOG Resources, Inc.92%135%0.691.17
PAA Plains All American Pipeline, L.P.81%127%0.641.36
PAGP Plains GP Holdings LP77%123%0.631.29
NGL NGL Energy Partners LP111%193%0.571.73
GEL Genesis Energy, L.P.81%176%0.461.65
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What diversifies EPD?

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 EPD's. Because such investments tend not to fall at the same time, pairing EPD 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 EPD lost money. The last two columns show a portfolio that is 80% EPD and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe20202018201520082005200280/20 mix volatility80/20 mix annual return
EPD Enterprise Products Partners L.P. (this page)1.00+113%0.98−23.6%−1.4%−25.5%−30.1%−1.3%−11.8%18.9%+18.6%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.32+225%1.34+3.9%−19.8%+7.7%−20.8%——16.1%+20.5%
SMH TechnologyVanEck Semiconductor ETF0.08+323%0.97+55.5%−9.1%−0.3%−44.7%+10.8%−47.0%17.1%+23.5%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.44+85.0%0.96+2.1%−9.5%+4.1%———16.2%+17.8%
GLD CommoditiesSPDR Gold Shares0.05+126%0.96+24.8%−1.9%−10.7%+4.9%+17.8%—15.7%+19.1%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.25+136%0.93+28.2%−0.9%————16.6%+19.7%
VLUE Broad MarketiShares MSCI USA Value Factor ETF0.42+109%0.90−0.2%−11.1%−4.1%———17.2%+18.8%
EWT TechnologyiShares MSCI Taiwan ETF0.07+153%0.89+31.5%−9.9%−12.9%−45.3%+4.7%−24.4%16.3%+20.0%
EUFN InternationaliShares MSCI Europe Financials ETF0.33+133%0.89−8.5%−23.1%−4.7%———16.9%+19.5%

Stocks

InvestmentCorrelation5Y returnSharpe20202018201520082005200280/20 mix volatility80/20 mix annual return
EPD Enterprise Products Partners L.P. (this page)1.00+113%0.98−23.6%−1.4%−25.5%−30.1%−1.3%−11.8%18.9%+18.6%
CAH Medical - DistributionCardinal Health, Inc.0.31+479%1.55+10.1%−24.5%+12.6%−39.6%+18.7%−8.3%17.5%+22.9%
CLS Hardware, Equipment & PartsCelestica Inc.0.20+3,143%1.47−2.4%−16.3%−6.0%−20.5%−25.2%−65.1%20.9%+36.3%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.29+1,636%1.46+6.7%+0.8%+67.7%−15.2%+20.1%−9.4%19.7%+32.0%
MCK Medical - DistributionMcKesson Corporation0.49+413%1.44+27.1%−28.4%−4.5%−40.4%+64.9%−27.2%18.1%+22.1%
HWM Aerospace & DefenseHowmet Aerospace Inc.0.41+594%1.36−7.2%−37.5%−36.3%−67.4%−1.8%−33.1%19.1%+25.1%
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Common questions

What was EPD's worst drawdown?

EPD's deepest decline since it began trading in 1998 was 58.8%, from September 2014 to March 2020. It took 24 months from the low to climb back to its old high.

What were EPD's best and worst years?

Over 27 full calendar years, EPD's best year was 2000, when it returned 86.1%. Its worst was 2008, with a return of -30.1%.

Is there a better investment than EPD?

Among EPD's popular alternatives, MPLX earned more than EPD over the past 5 years with similar volatility: 23.5% a year at 18.8% volatility, against 16.4% a year at 17.1%. Looking beyond its popular alternatives, CVX (integrated oil & gas) and SHEL (integrated oil & gas) were ahead of EPD in most short and long periods, though with much bigger swings (25.2% and 24.8% volatility against 17.1%).

Is EPD more volatile than the S&P 500?

No. EPD's volatility over the past 5 years was 17.1%, 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, EPD's return lands within 17.1% 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 EPD's Sharpe ratio?

EPD's Sharpe ratio over the past 5 years was 0.98, against 0.79 for the S&P 500, so EPD earned more 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 EPD with the S&P 500?

Over the past 5 years, EPD's monthly returns had a correlation of 0.42 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 EPD instead: the lower it is, the more that option would diversify a EPD holding.

What are the best alternatives to EPD?

Of the 18 popular alternatives we compared, eight outperformed EPD in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: VLO, TRGP and LNG.

Did EPD outperform the S&P 500?

EPD finished ahead of the S&P 500 (SPY) in 16 of 27 full calendar years. In 2025, it returned +9.4%, against +17.7% for the index.

How did EPD do in stock market crashes?

EPD 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 EPD fell 34.6% and the S&P 500 fell 47.5%.

What diversifies EPD?

These had a low correlation with EPD over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.32), SMH (correlation 0.08) and DBEF (correlation 0.44); among large stocks, CAH (correlation 0.31), CLS (correlation 0.20) and FIX (correlation 0.29). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to EPD

Other stocks and ETFs