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Relative Intelligence · Electrical Equipment

How Eaton (ETN) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on ETN alone. It places ETN (Eaton Corporation plc) against 19 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 ETN stands in the market, and of the alternatives worth a closer look.

Period covered: ETN'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 ETN →Chart ETN vs. 19 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in ETN over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of ETN over the same span and ETN'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. 91 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of ETN; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M199720022007201220172022$10,000$100,000$1M19972004201120182025
  • GILD$2M+15,614% total · +19.1% a year
  • ROK$1M+12,857% total · +18.3% a year
  • POWL$899,867+8,899% total · +16.8% a year
  • AME$869,262+8,593% total · +16.6% a year
  • CAT$615,591+6,056% total · +15.3% a year
  • ETN$538,468+5,285% total · +14.7% a year
  • MSFT$508,386+4,984% total · +14.5% a year
  • TT$405,736+3,957% total · +13.6% a year
  • AZZ$337,866+3,279% total · +12.9% a year
  • SPY (S&P 500)$132,907+1,229% total · +9.3% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 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. 328 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of ETN; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000$200,000202120222023202420252026$10,000$20,000$50,000$100,000$200,000202120222023202420252026
  • POWL$273,283+2,633% total · +93.8% a year
  • PWR$56,870+469% total · +41.6% a year
  • NVT$53,086+431% total · +39.6% a year
  • NPO$36,604+266% total · +29.6% a year
  • PH$36,392+264% total · +29.5% a year
  • WAB$34,242+242% total · +27.9% a year
  • ETN$31,102+211% total · +25.5% a year
  • TT$27,878+179% total · +22.8% a year
  • AZZ$26,759+168% total · +21.8% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
Change the dates or add tickers to this chart in EasyCompare

ETN 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
$148B
Industry
Electrical Equipment & Parts
Price history from
October 1986

Returns

Past 1 year
+2.3%total return
Past 3 years
+104%+26.9% a year
Past 5 years
+153%+20.4% a year
Past 10 years
+657%+22.4% a year
Best calendar year
+64.0%2010
Worst calendar year
−47.2%2008
Losing years
9 of 29full calendar years

Risk

Volatility
32.1%typical yearly swing, 5 years
Sharpe ratio
0.74return per unit of risk, 5 years
Worst decline ever
−68.9%Jul 2007 to Mar 2009
From its all-time high
−17.0%below the peak

ETN against the whole market

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

How does ETN rank among all stocks?

This section ranks ETN 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 ETN 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.

MeasureETNRankStanding
1-year return+2.3%1,896 of 3,287bottom 43%
3-year return+104%884 of 3,017top 29%
5-year return+153%441 of 2,893top 15%
10-year return+657%211 of 2,202top 10%
Volatility, 5 years32.1%911 of 2,893top 31%
Sharpe ratio, 5 years0.74372 of 2,893top 13%
Worst decline, past 10 years−44.5%278 of 2,187top 13%

What has beaten ETN 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). ETN sits where the dashed lines cross. Anything in the green box above and to the left earned more than ETN 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 ETN; faint dots are 42 more of the 53 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.

15.0%20.0%25.0%30.0%35.0%40.0%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 ETNIRM: +24.6% a year, volatility 30.3%NHC: +32.0% a year, volatility 28.5%QTUM: +22.8% a year, volatility 28.1%ABBV: +26.1% a year, volatility 23.4%HSBC: +33.1% a year, volatility 25.9%MUFG: +33.2% a year, volatility 29.4%WELL: +26.0% a year, volatility 23.8%UBS: +25.4% a year, volatility 30.4%SMFG: +33.7% a year, volatility 29.4%BNY: +22.7% a year, volatility 24.4%WMB: +24.6% a year, volatility 24.0%TRV: +22.4% a year, volatility 22.3%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%MFC: +22.6% a year, volatility 24.0%BAP: +30.8% a year, volatility 30.3%BCH: +25.2% a year, volatility 28.2%USFD: +22.7% a year, volatility 29.8%WES: +23.5% a year, volatility 27.6%COR: +24.2% a year, volatility 22.8%AIT: +28.5% a year, volatility 30.3%PAGP: +26.8% a year, volatility 26.1%CASY: +29.9% a year, volatility 29.3%DTM: +24.5% a year, volatility 25.2%BLX: +31.4% a year, volatility 25.9%EPU: +29.5% a year, volatility 24.9%MPLX: +23.5% a year, volatility 18.8%FBIZ: +23.1% a year, volatility 29.4%XOM: +27.1% a year, volatility 26.5%VRTX: +22.6% a year, volatility 29.1%GWW: +26.3% a year, volatility 24.9%LNG: +23.4% a year, volatility 30.2%XLE: +22.6% a year, volatility 25.5%CBOE: +21.5% a year, volatility 25.1%KOF: +22.3% a year, volatility 24.7%CW: +30.8% a year, volatility 28.7%PAA: +27.0% a year, volatility 25.6%RS: +24.8% a year, volatility 28.1%UNM: +30.6% a year, volatility 29.3%CLH: +23.1% a year, volatility 28.6%ALSN: +27.3% a year, volatility 29.9%IEO: +21.5% a year, volatility 29.9%ETN: +20.4% a year, volatility 32.1%SPY (S&P 500): +12.7% a year, volatility 17.1%TT: +22.7% a year, volatility 27.7%PWR: +39.3% a year, volatility 37.2%NVT: +35.4% a year, volatility 38.0%AZZ: +21.8% a year, volatility 33.8%PH: +27.4% a year, volatility 28.8%WAB: +25.6% a year, volatility 26.2%APG: +23.0% a year, volatility 31.9%NPO: +28.1% a year, volatility 36.0%FSS: +23.3% a year, volatility 31.7%CAT: +31.1% a year, volatility 31.9%LLY: +40.7% a year, volatility 32.8%DXJ: +26.6% a year, volatility 19.1%MCK: +38.7% a year, volatility 25.0%GILD: +22.8% a year, volatility 24.9%PGR: +21.3% a year, volatility 25.6%ESLT: +39.8% a year, volatility 34.6%MUSA: +26.1% a year, volatility 31.2%FLTW: +21.8% a year, volatility 24.3%CAH: +42.1% a year, volatility 24.7%ETNSPY (S&P 500)TTPWRNVTAZZPHWABAPGNPOFSSCATLLYDXJMCKGILDPGRESLTMUSAFLTWCAH15.0%20.0%25.0%30.0%35.0%40.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than ETNIRM: +24.6% a year, volatility 30.3%NHC: +32.0% a year, volatility 28.5%QTUM: +22.8% a year, volatility 28.1%ABBV: +26.1% a year, volatility 23.4%HSBC: +33.1% a year, volatility 25.9%MUFG: +33.2% a year, volatility 29.4%WELL: +26.0% a year, volatility 23.8%UBS: +25.4% a year, volatility 30.4%SMFG: +33.7% a year, volatility 29.4%BNY: +22.7% a year, volatility 24.4%WMB: +24.6% a year, volatility 24.0%TRV: +22.4% a year, volatility 22.3%MAR: +22.0% a year, volatility 28.6%E: +23.0% a year, volatility 25.6%MFC: +22.6% a year, volatility 24.0%BAP: +30.8% a year, volatility 30.3%BCH: +25.2% a year, volatility 28.2%USFD: +22.7% a year, volatility 29.8%WES: +23.5% a year, volatility 27.6%COR: +24.2% a year, volatility 22.8%AIT: +28.5% a year, volatility 30.3%PAGP: +26.8% a year, volatility 26.1%CASY: +29.9% a year, volatility 29.3%DTM: +24.5% a year, volatility 25.2%BLX: +31.4% a year, volatility 25.9%EPU: +29.5% a year, volatility 24.9%MPLX: +23.5% a year, volatility 18.8%FBIZ: +23.1% a year, volatility 29.4%XOM: +27.1% a year, volatility 26.5%VRTX: +22.6% a year, volatility 29.1%GWW: +26.3% a year, volatility 24.9%LNG: +23.4% a year, volatility 30.2%XLE: +22.6% a year, volatility 25.5%CBOE: +21.5% a year, volatility 25.1%KOF: +22.3% a year, volatility 24.7%CW: +30.8% a year, volatility 28.7%PAA: +27.0% a year, volatility 25.6%RS: +24.8% a year, volatility 28.1%UNM: +30.6% a year, volatility 29.3%CLH: +23.1% a year, volatility 28.6%ALSN: +27.3% a year, volatility 29.9%IEO: +21.5% a year, volatility 29.9%ETN: +20.4% a year, volatility 32.1%SPY (S&P 500): +12.7% a year, volatility 17.1%TT: +22.7% a year, volatility 27.7%PWR: +39.3% a year, volatility 37.2%NVT: +35.4% a year, volatility 38.0%AZZ: +21.8% a year, volatility 33.8%PH: +27.4% a year, volatility 28.8%WAB: +25.6% a year, volatility 26.2%APG: +23.0% a year, volatility 31.9%NPO: +28.1% a year, volatility 36.0%FSS: +23.3% a year, volatility 31.7%CAT: +31.1% a year, volatility 31.9%LLY: +40.7% a year, volatility 32.8%DXJ: +26.6% a year, volatility 19.1%MCK: +38.7% a year, volatility 25.0%GILD: +22.8% a year, volatility 24.9%PGR: +21.3% a year, volatility 25.6%ESLT: +39.8% a year, volatility 34.6%MUSA: +26.1% a year, volatility 31.2%FLTW: +21.8% a year, volatility 24.3%CAH: +42.1% a year, volatility 24.7%ETNSPY (S&P 500)TTPWRNVTPHWABAPGNPOCATLLYDXJMCKGILDPGRMUSACAH
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than ETN?

Investments that beat ETN 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 ETN 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 ETN'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 ETN 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 ETN'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× ETN's volatility counts as better.

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

Screen the whole market against ETN for any period in BetterThanSPYOpen these 19 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 ETN?lower diversifies moreExpenseper year
ETNEaton Corporation plc · this page
+20.4%32.1%0.74−44.5%+657%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.640.09%
Popular alternativesbest 4 shownThe investments people most often weigh against ETN. 4 of 17 passed at least one test.
TTTrane Technologies plc · Building Products
Higher return, lower volatilityHigher return in most periods+22.7%27.7%0.88−40.5%+955%0.79—
PWRQuanta Services, Inc. · Engineering & Construction
Higher return in most periods+39.3%37.2%1.08−45.5%+2,045%0.76—
NVTnVent Electric plc · Electrical Equipment
Higher return in most periods+35.4%38.0%0.99−56.2%—0.74—
AZZAZZ Inc. · Industrial - Specialties
Higher return in most periods+21.8%33.8%0.76−68.0%+184%0.61—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Electrical Equipment and the categories next to it (Industrial Machinery, Building Products, Engineering & Construction, Electric Utilities), plus ETN's specific themes. 9 of 119 passed at least one test.
PHParker-Hannifin Corporation · Industrial Machinery
Higher return, lower volatilityHigher return in most periods+27.4%28.8%0.99−54.7%+789%0.64—
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Higher return, lower volatilityHigher return in most periods+25.6%26.2%1.00−64.1%+264%0.62—
APGAPi Group Corporation · Engineering & Construction
Higher return in most periods+23.0%31.9%0.81−49.6%—0.67—
NPOEnPro Industries, Inc. · Industrial Machinery
Higher return in most periods+28.1%36.0%0.87−65.8%+481%0.60—
FSSFederal Signal Corporation · Industrial Machinery
Higher return in most periods+23.3%31.7%0.82−33.0%+882%0.67—
CATCaterpillar Inc. · Industrial Machinery
Higher return, similar volatility+31.1%31.9%1.01−43.4%+936%0.68—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 226 of 3,497 passed at least one test.
LLYEli Lilly and Company · Pharmaceuticals
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+40.7%32.8%1.21−34.5%+1,807%0.09—
DXJWisdomTree Japan Hedged Equity Fund · International Equity
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+26.6%19.1%1.34−39.1%+428%0.350.48%
MCKMcKesson Corporation · Health Care Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+38.7%25.0%1.44−38.1%+586%0.17—
GILDGilead Sciences, Inc. · Biotechnology
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+22.8%24.9%0.95−30.5%+200%-0.06—
PGRThe Progressive Corporation · Property & Casualty Insurance
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+21.3%25.6%0.89−30.3%+816%0.09—
ESLTElbit Systems Ltd. · Aerospace & Defense
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+39.8%34.6%1.15−35.4%+765%-0.01—
MUSAMurphy USA Inc. · Convenience Stores
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+26.1%31.2%0.90−35.5%+706%0.23—
FLTWFranklin FTSE Taiwan ETF · Technology
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+21.8%24.3%0.94−38.0%—0.430.19%
What these numbers mean for ETN
Annual return
ETN returned 20.4% 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 $25,300. 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
ETN's volatility over the past 5 years was 32.1%, 1.9 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ETN's return lands within 32.1% 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
ETN's Sharpe ratio over the past 5 years was 0.74, against 0.79 for the S&P 500, so ETN 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
ETN's worst fall from a peak to a low over the past 10 years was 44.5%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 44.5% fall takes a 80.3% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, ETN's monthly returns had a correlation of 0.64 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 ETN instead: the lower it is, the more that option would diversify a ETN holding. Guide: Correlation and diversification →
Show all 53 stocks and funds worth at least $500 million that earned more than ETN with less volatility

Out of 3,633 tested over 5 years. The strongest 50 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with ETNExpense
1
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.350.48%
2
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.17—
3
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%-0.06—
4
IRMIron Mountain Incorporated · Specialty REITs
Whole market+24.6%30.3%0.88−39.0%+470%0.58—
5
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.19—
6
NHCNational HealthCare Corporation · Medical - Care Facilities
Whole market+32.0%28.5%1.12−35.3%+394%0.20—
7
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.430.19%
8
QTUMDefiance Quantum ETF · Technology
Whole market+22.8%28.1%0.87−38.5%—0.520.40%
9
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%-0.06—
10
HSBCHSBC Holdings plc · Banks
Whole market+33.1%25.9%1.24−62.3%+319%0.10—
11
MUFGMitsubishi UFJ Financial Group, Inc. · Banks
Whole market+33.2%29.4%1.13−54.9%+483%0.18—
12
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.31—
13
UBSUBS Group AG · Banks
Whole market+25.4%30.4%0.90−59.8%+374%0.33—
14
SMFGSumitomo Mitsui Financial Group, Inc. · Banks
Whole market+33.7%29.4%1.14−47.6%+474%0.17—
15
BNYBank of New York Mellon Corp · Banks
Whole market+22.7%24.4%0.97−50.5%+341%0.42—
16
WMBThe Williams Companies, Inc. · Oil & Gas Midstream
Whole market+24.6%24.0%1.04−68.1%+288%0.34—
17
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.17—
18
MARMarriott International, Inc. · Hotels & Resorts
Whole market+22.0%28.6%0.84−61.3%+544%0.51—
19
EEni S.p.A. · Integrated Oil & Gas
Whole market+23.0%25.6%0.94−61.4%+278%0.10—
20
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.38—
21
BAPCredicorp Ltd. · Banks
Whole market+30.8%30.3%1.04−59.2%+298%0.31—
22
BCHBanco de Chile · Banks
Whole market+25.2%28.2%0.94−58.4%+180%-0.06—
23
USFDUS Foods Holding Corp. · Food Distribution
Whole market+22.7%29.8%0.84−77.3%+347%0.46—
24
WESWestern Midstream Partners, LP · Oil & Gas Midstream
Whole market+23.5%27.6%0.91−91.9%+128%0.29—
25
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.25—
26
AITApplied Industrial Technologies, Inc. · Industrial Distribution
Whole market+28.5%30.3%0.98−59.3%+742%0.61—
27
PHParker-Hannifin Corporation · Industrial Machinery
Same or nearby category+27.4%28.8%0.99−54.7%+789%0.64—
28
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Same or nearby category+25.6%26.2%1.00−64.1%+264%0.62—
29
PAGPPlains GP Holdings LP · Oil & Gas Midstream
Whole market+26.8%26.1%1.05−88.0%+56.3%0.22—
30
CASYCasey's General Stores, Inc. · Convenience Stores
Whole market+29.9%29.3%1.04−36.1%+537%0.32—
31
TTTrane Technologies plc · Building Products
Popular alternative+22.7%27.7%0.88−40.5%+955%0.79—
32
DTMDT Midstream, Inc. · Oil & Gas Midstream
Whole market+24.5%25.2%1.00−23.6%—0.41—
33
BLXBladex, Inc. · Banks - Regional
Whole market+31.4%25.9%1.19−68.5%+290%0.38—
34
EPUiShares MSCI Peru and Global Exposure ETF · International
Whole market+29.5%24.9%1.17−51.0%+275%0.240.59%
35
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.28—
36
FBIZFirst Business Financial Services, Inc. · Banks - Regional
Whole market+23.1%29.4%0.85−50.2%+307%0.17—
37
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Whole market+27.1%26.5%1.04−61.0%+214%0.06—
38
VRTXVertex Pharmaceuticals Incorporated · Biotechnology
Whole market+22.6%29.1%0.85−41.6%+521%-0.01—
39
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.56—
40
LNGCheniere Energy, Inc. · Oil & Gas
Whole market+23.4%30.2%0.85−57.5%+616%0.09—
41
XLEState Street Energy Select Sector SPDR ETF · Energy Equity
Whole market+22.6%25.5%0.93−66.8%+189%0.150.08%
42
CBOECboe Global Markets, Inc. · Capital Markets
Whole market+21.5%25.1%0.91−43.2%+463%0.15—
43
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.3%24.7%0.94−55.1%+119%0.14—
44
CWCurtiss-Wright Corporation · Aerospace & Defense
Whole market+30.8%28.7%1.08−48.7%+512%0.62—
45
PAAPlains All American Pipeline, L.P. · Oil & Gas Midstream
Whole market+27.0%25.6%1.06−87.9%+64.0%0.24—
46
RSReliance Steel & Aluminum Co. · Metals & Mining
Whole market+24.8%28.1%0.93−40.8%+626%0.50—
47
UNMUnum Group · Life Insurance
Whole market+30.6%29.3%1.06−81.0%+256%0.08—
48
CLHClean Harbors, Inc. · Environmental Services
Whole market+23.1%28.6%0.88−64.5%+588%0.47—
49
ALSNAllison Transmission Holdings, Inc. · Auto Parts
Whole market+27.3%29.9%0.96−48.7%+367%0.48—
50
IEOiShares U.S. Oil & Gas Exploration & Production ETF · Broad Market
Whole market+21.5%29.9%0.80−75.0%+217%0.160.37%

ETN against its popular alternatives

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

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

Green points earned more than ETN 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%70.0%80.0%90.0%−20.0%0.0%20.0%40.0%60.0%80.0%100%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityETN: 20.4% a year, volatility 32.1%SPY (S&P 500): 12.7% a year, volatility 17.1%TT: 22.7% a year, volatility 27.7%HUBB: 21.0% a year, volatility 30.0%GNRC: −15.7% a year, volatility 54.5%AMSC: 8.4% a year, volatility 87.1%ATKR: 1.7% a year, volatility 47.7%LFUS: 6.7% a year, volatility 35.6%ROK: 7.8% a year, volatility 32.3%ENS: 17.9% a year, volatility 35.5%CARR: 2.2% a year, volatility 32.3%PWR: 39.3% a year, volatility 37.2%AZZ: 21.9% a year, volatility 33.8%NVT: 35.4% a year, volatility 38.0%POWL: 87.9% a year, volatility 65.8%VRT: 54.2% a year, volatility 64.2%MSFT: 12.5% a year, volatility 28.2%AME: 14.4% a year, volatility 22.1%EMR: 12.7% a year, volatility 27.7%ETNSPY (S&P 500)TTGNRCAMSCATKRLFUSROKENSCARRPWRNVTPOWLVRTMSFT0.0%20.0%40.0%60.0%80.0%100%−20.0%0.0%20.0%40.0%60.0%80.0%100%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityETN: 20.4% a year, volatility 32.1%SPY (S&P 500): 12.7% a year, volatility 17.1%TT: 22.7% a year, volatility 27.7%HUBB: 21.0% a year, volatility 30.0%GNRC: −15.7% a year, volatility 54.5%AMSC: 8.4% a year, volatility 87.1%ATKR: 1.7% a year, volatility 47.7%LFUS: 6.7% a year, volatility 35.6%ROK: 7.8% a year, volatility 32.3%ENS: 17.9% a year, volatility 35.5%CARR: 2.2% a year, volatility 32.3%PWR: 39.3% a year, volatility 37.2%AZZ: 21.9% a year, volatility 33.8%NVT: 35.4% a year, volatility 38.0%POWL: 87.9% a year, volatility 65.8%VRT: 54.2% a year, volatility 64.2%MSFT: 12.5% a year, volatility 28.2%AME: 14.4% a year, volatility 22.1%EMR: 12.7% a year, volatility 27.7%ETNSPY (S&P 500)TTGNRCAMSCATKRLFUSENSCARRPWRNVTPOWLVRTAME
All figures
InvestmentAnnual returnVolatility
POWL Powell Industries, Inc.+87.9%65.8%
VRT Vertiv Holdings Co+54.2%64.2%
PWR Quanta Services, Inc.+39.3%37.2%
NVT nVent Electric plc+35.4%38.0%
TT Trane Technologies plc+22.7%27.7%
AZZ AZZ Inc.+21.9%33.8%
HUBB Hubbell Incorporated+21.0%30.0%
ETN This pageEaton Corporation plc+20.4%32.1%
ENS EnerSys+17.9%35.5%
AME AMETEK, Inc.+14.4%22.1%
EMR Emerson Electric Co.+12.7%27.7%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
MSFT Microsoft Corporation+12.5%28.2%
AMSC American Superconductor Corporation+8.4%87.1%
ROK Rockwell Automation, Inc.+7.8%32.3%
LFUS Littelfuse, Inc.+6.7%35.6%
CARR Carrier Global Corporation+2.2%32.3%
ATKR Atkore Inc.+1.7%47.7%
GNRC Generac Holdings Inc.−15.7%54.5%
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Has ETN consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than ETN 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
ETN Eaton Corporation plc (this page)—−12.3%−4.6%−5.8%+17.7%+2.3%+104%+153%+657%32.1%0.74−44.5%—$148B—
PWR QualifiedQuanta Services, Inc.4/5 short3/3 longAll-weather−7.2%−5.8%−1.5%+35.6%+35.3%+263%+425%+2,045%37.2%1.08−45.5%—$90B—
TT QualifiedTrane Technologies plc4/5 short3/3 longAll-weather+6.5%−1.2%−2.9%+16.8%+11.3%+154%+178%+955%27.7%0.88−40.5%—$102B—
AZZ QualifiedAZZ Inc.4/5 short2/3 long+1.6%−7.9%−0.9%+24.3%+39.0%+208%+169%+184%33.8%0.76−68.0%—$4.1B—
NVT QualifiednVent Electric plc3/5 short2/3 long−12.4%−9.6%+3.2%+31.4%+40.0%+203%+356%—38.0%0.99−56.2%—$23B—
POWL Electrical Equipment & PartsPowell Industries, Inc.2/5 short3/3 long−12.1%−27.7%−31.7%+40.5%+42.0%+578%+2,240%+2,510%65.8%1.27−68.3%—$6.0B—
VRT Electrical Equipment & PartsVertiv Holdings Co1/5 short2/3 long−18.9%−30.2%−35.2%+16.0%+16.0%+456%+772%—64.2%1.01−71.3%—$78B—
MSFT Software - InfrastructureMicrosoft Corporation4/5 short1/3 long+6.0%+32.5%+27.7%+13.2%+3.8%+66.6%+80.3%+946%28.2%0.56−37.1%—$3.9T—
HUBB Electrical Equipment & PartsHubbell Incorporated2/5 short1/3 long+0.4%−5.0%−15.4%+0.1%+7.7%+70.6%+159%+442%30.0%0.79−41.6%—$24B—
GNRC Industrial - MachineryGenerac Holdings Inc.2/5 short1/3 long−5.1%−8.7%−10.4%+37.9%−0.6%+120%−57.5%+430%54.5%-0.04−83.8%—$11B—
CEG Independent Power ProducersConstellation Energy Corporation2/5 short1/3 long−1.2%+2.3%−9.7%−29.0%−29.7%+135%————−50.7%—$92B—
AMSC Electrical Equipment & PartsAmerican Superconductor Corporation0/5 short1/3 long−15.0%−20.9%−36.9%−18.6%−57.9%+327%+49.4%+272%87.1%0.52−89.1%—$1.2B—
AME Electrical Equipment & PartsAMETEK, Inc.5/5 short0/3 long+2.5%+5.3%+4.8%+18.8%+32.8%+78.1%+96.1%+481%22.1%0.72−42.7%—$57B—
ATKR Electrical Equipment & PartsAtkore Inc.5/5 short0/3 long+0.5%+30.3%+42.9%+49.3%+45.6%−28.2%+8.7%+412%47.7%0.27−72.8%—$3.2B—
EMR Industrial - MachineryEmerson Electric Co.5/5 short0/3 long+5.8%+17.9%+10.1%+19.5%+25.0%+84.9%+82.1%+309%27.7%0.57−50.8%—$90B—
LFUS Hardware, Equipment & PartsLittelfuse, Inc.4/5 short0/3 long−6.3%−4.3%−2.4%+47.0%+43.2%+74.1%+38.3%+235%35.6%0.36−54.2%—$9.7B—
ROK Industrial - MachineryRockwell Automation, Inc.3/5 short0/3 long+0.7%−6.4%+4.1%+8.4%+22.9%+68.9%+45.6%+335%32.3%0.40−45.1%—$48B—
GEV Industrial - MachineryGE Vernova Inc.3/5 short0/3 long−5.9%−17.5%−10.0%+31.3%+50.1%—————−38.3%—$237B—
ENS Electrical Equipment & PartsEnerSys2/5 short0/3 long−4.5%−11.1%−14.4%+13.7%+38.8%+96.5%+128%+188%35.5%0.64−56.3%—$6.2B—
CARR Industrial - MachineryCarrier Global Corporation1/5 short0/3 long+2.8%−15.8%−8.2%+6.2%−1.1%+21.2%+11.6%—32.3%0.23−40.8%—$46B—
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How did ETN do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where ETN ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with ETN 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 ETN; gray means the two finished within a fraction of a point. The rank row places ETN among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of ETN20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
ETN This pageEaton Corporation plc—−2.8%+39.5%+56.2%−7.2%+46.7%+31.0%+42.8%−10.0%+21.5%+33.8%−20.7%−8.2%+44.2%+28.6%−11.8%+64.0%+33.3%−47.1%+31.6%+14.4%−5.4%+36.5%+41.1%+7.6%+40.8%+6.0%+5.3%−19.0%+30.7%
Rank among alternativesTop quarter in 4 of 2917 of 208 of 195 of 199 of 186 of 188 of 178 of 179 of 157 of 158 of 1411 of 148 of 146 of 149 of 1410 of 141 of 138 of 139 of 136 of 139 of 139 of 133 of 126 of 124 of 123 of 127 of 128 of 127 of 115 of 11
SPY S&P 500State Street SPDR S&P 500 ETF11 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%
PWR Quanta Services, Inc.14 of 27+33.7%+46.6%+51.7%+24.6%+59.5%+77.8%+35.8%−22.9%+12.2%+72.1%−28.7%−10.1%+15.7%+26.7%+8.1%−4.4%+5.3%−24.6%+33.5%+49.3%+64.7%+9.5%+109%−77.3%−52.1%+71.0%+28.0%——
TT Trane Technologies plc15 of 29+6.4%+53.0%+47.4%−15.3%+41.0%+43.4%+48.3%+4.4%+21.3%+38.5%−11.1%+4.6%+29.9%+59.3%−34.7%+32.6%+110%−62.0%+20.2%−1.7%+1.7%+19.6%+59.7%+4.3%+1.2%−23.0%+17.7%+17.9%+38.1%
AZZ AZZ Inc.12 of 29+31.9%+42.4%+46.8%−26.1%+18.1%+5.3%+15.6%−19.9%−19.0%+16.3%+19.9%−2.7%+28.9%+73.5%+16.2%+25.9%+30.3%−11.5%+10.7%+184%+11.2%+21.3%+7.5%−41.0%+20.8%+45.9%+35.1%−33.2%+67.3%
NVT nVent Electric plc3 of 7+51.2%+16.6%+56.0%+3.3%+67.2%−5.7%+17.2%——————————————————————
POWL Powell Industries, Inc.16 of 29+44.5%+152%+159%+35.0%+11.5%−32.9%+114%−4.0%−18.6%+64.3%−41.6%−22.5%+63.1%+32.9%−5.0%+4.3%+8.8%−34.3%+39.7%+75.6%−2.9%−3.5%+12.4%−9.2%+47.3%+85.7%−31.1%−34.6%+9.8%
VRT Vertiv Holdings Co4 of 7+42.8%+137%+252%−45.3%+33.8%+69.4%+12.5%——————————————————————
MSFT Microsoft Corporation18 of 29+15.6%+12.9%+58.2%−28.0%+52.5%+42.5%+57.6%+20.8%+40.8%+15.1%+22.7%+27.5%+44.3%+5.8%−4.5%−6.5%+60.5%−44.4%+20.8%+15.8%−1.0%+9.2%+6.2%−22.0%+52.8%−62.9%+68.4%+115%+56.5%
HUBB Hubbell Incorporated9 of 29+7.4%+28.9%+42.4%+15.1%+35.6%+8.9%+52.9%−24.6%+18.8%+18.4%−3.3%−0.2%+31.1%+29.3%+14.1%+30.9%+50.5%−34.4%+17.0%+3.2%−11.3%+22.1%+30.2%+24.5%+16.3%+2.7%−25.7%−20.7%+16.8%
GNRC Generac Holdings Inc.8 of 15−12.0%+20.0%+28.4%−71.4%+54.8%+126%+102%+0.4%+21.6%+36.9%−36.3%−17.4%+118%+162%+73.3%——————————————
CEG Constellation Energy Corporation2 of 3+58.8%+92.7%+37.3%——————————————————————————
AMSC American Superconductor Corporation13 of 29+16.9%+121%+203%−66.2%−53.5%+198%−29.6%+207%−50.7%+15.7%−14.0%−54.8%−37.4%−29.0%−87.1%−30.1%+151%−40.3%+179%+24.6%−47.1%+7.4%+360%−75.4%−57.1%+2.0%+173%+20.6%−20.0%
AME AMETEK, Inc.16 of 29+14.7%+10.0%+18.8%−4.3%+22.3%+22.2%+48.3%−5.9%+50.0%−8.6%+2.5%+0.5%+41.0%+34.6%+7.9%+54.8%+27.6%−35.1%+47.9%+13.0%+20.0%+48.9%+26.4%+21.4%+23.7%+37.7%−13.6%−16.8%+22.4%
ATKR Atkore Inc.4 of 9−22.7%−47.3%+41.1%+2.0%+170%+1.6%+104%−7.5%−10.3%————————————————————
EMR Emerson Electric Co.9 of 29+8.9%+29.7%+3.8%+5.7%+18.2%+8.6%+31.6%−11.9%+29.1%+21.0%−19.7%−9.6%+36.1%+17.3%−16.3%+37.8%+20.7%−33.6%+31.5%+20.7%+9.2%+11.0%+31.4%−8.3%−25.7%+40.8%−3.0%+9.2%+19.1%
LFUS Littelfuse, Inc.14 of 29+8.6%−11.0%+22.7%−29.4%+24.4%+34.5%+12.7%−12.6%+31.4%+43.3%+11.9%+5.1%+52.3%+45.6%−7.4%+46.9%+93.7%−49.6%+3.4%+17.0%−20.3%+18.5%+71.0%−35.8%−8.4%+18.0%+26.1%−22.6%+2.6%
ROK Rockwell Automation, Inc.13 of 29+38.4%−6.2%+22.6%−24.8%+41.2%+26.2%+37.9%−21.8%+48.9%+34.5%−5.5%−3.9%+43.8%+17.2%+4.5%+56.1%+50.9%−51.9%+14.9%+4.7%+21.3%+41.8%+76.5%+20.0%−11.3%+5.5%+168%−1.9%+37.1%
GEV GE Vernova Inc.1 of 1+99.0%————————————————————————————
ENS EnerSys10 of 21+60.3%−7.6%+37.9%−5.6%−4.0%+12.2%−2.6%+12.5%−10.0%+41.1%−8.3%−11.1%+87.5%+44.9%−19.1%+46.9%+98.8%−55.9%+56.0%+22.7%−14.5%————————
CARR Carrier Global Corporation0 of 5−21.8%+20.3%+41.5%−22.7%+45.3%————————————————————————
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Risk and diversification

How ETN 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 ETN's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents ETN'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 ETN fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringETN fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−68.9%−54.3%Jul 2007Mar 200920 monthsNov 201020 months
No named crash−47.6%—Aug 1987Oct 19872 monthsAug 198922 months
Covid crash−44.5%−33.4%Feb 2020Mar 20201 monthAug 20205 months
No named crash−41.9%−0.2%Oct 1997Aug 199810 monthsJul 199911 months
Dot-com bust−40.7%−0.8%Jul 1999Oct 200015 monthsFeb 20014 months

How did ETN do in stock market crashes?

This section measures how far ETN, 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 ETN.

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
ETN This pageEaton Corporation plc—−4.5%−26.3%−44.5%−26.0%−6.7%−22.3%−34.6%−1.4%−68.5%−31.6%
SPY S&P 500State Street SPDR S&P 500 ETF7 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
PWR Quanta Services, Inc.4 of 10−4.0%−21.7%−40.8%−22.1%−7.1%−35.4%−21.6%−1.7%−69.6%−97.1%
TT Trane Technologies plc4 of 10−3.3%−37.5%−39.2%−17.9%−8.0%−20.6%−34.2%−2.6%−77.5%−44.7%
AZZ AZZ Inc.3 of 10−8.3%−44.8%−52.7%−27.3%−7.0%−20.4%−28.3%−2.1%−65.3%−56.8%
NVT nVent Electric plc1 of 4−8.0%−20.9%−56.2%−30.5%——————
POWL Powell Industries, Inc.1 of 10−8.4%−35.9%−56.9%−35.0%−10.5%−34.6%−30.1%−2.6%−68.7%−48.7%
VRT Vertiv Holdings Co1 of 4−12.2%−65.7%−58.6%−3.4%——————
MSFT Microsoft Corporation6 of 10−2.0%−31.0%−27.7%−18.2%−7.4%−14.4%−14.1%−2.6%−57.9%−62.9%
HUBB Hubbell Incorporated7 of 10−5.6%−17.3%−40.6%−31.6%−3.7%−20.9%−26.6%−1.0%−59.7%−27.4%
GNRC Generac Holdings Inc.5 of 8−6.8%−54.8%−33.1%−21.8%−5.6%−16.2%−24.4%−4.0%——
CEG Constellation Energy Corporation1 of 1−2.0%—————————
AMSC American Superconductor Corporation0 of 10−13.7%−64.7%−44.2%−25.8%−15.1%−31.9%−56.8%−3.1%−80.6%−96.3%
AME AMETEK, Inc.5 of 10−3.7%−26.4%−42.0%−22.1%−6.7%−21.9%−30.3%−1.2%−53.3%−34.9%
ATKR Atkore Inc.0 of 5−9.2%−42.3%−71.9%−34.0%−7.8%—————
EMR Emerson Electric Co.6 of 10−4.3%−25.4%−47.2%−28.8%−5.9%−15.9%−25.8%0.0%−56.1%−43.6%
LFUS Littelfuse, Inc.5 of 10−3.7%−38.8%−43.8%−25.5%−9.5%−17.2%−31.3%−3.0%−77.4%−71.5%
ROK Rockwell Automation, Inc.1 of 10−5.4%−43.8%−42.4%−27.5%−7.9%−23.6%−37.5%−1.4%−74.7%−42.0%
ENS EnerSys1 of 9−8.3%−30.0%−48.8%−19.0%−7.1%−34.2%−49.4%−4.1%−84.0%—
CARR Carrier Global Corporation0 of 2−5.6%−35.8%————————
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How closely does ETN 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 ETN 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 ETN's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
ETN This pageEaton Corporation plc114%80%1.431.16
PWR Quanta Services, Inc.141%61%2.311.22
POWL Powell Industries, Inc.162%91%1.791.20
TT Trane Technologies plc115%69%1.661.10
MSFT Microsoft Corporation127%91%1.390.96
AME AMETEK, Inc.111%101%1.101.15
HUBB Hubbell Incorporated108%101%1.071.03
GNRC Generac Holdings Inc.129%133%0.971.45
ROK Rockwell Automation, Inc.122%138%0.881.46
ATKR Atkore Inc.155%185%0.842.10
EMR Emerson Electric Co.124%153%0.811.39
LFUS Littelfuse, Inc.124%154%0.811.34
AMSC American Superconductor Corporation157%205%0.772.23
ENS EnerSys113%148%0.771.31
AZZ AZZ Inc.94%127%0.751.30
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What diversifies ETN?

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

ETFs

InvestmentCorrelation5Y returnSharpe20252022201820152014201120082005199880/20 mix volatility80/20 mix annual return
ETN Eaton Corporation plc (this page)1.00+153%0.74−2.8%−7.2%−10.0%−20.7%−8.2%−11.8%−47.1%−5.4%−19.0%27.7%+25.5%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.27+119%1.48+27.1%+3.8%−5.2%——————22.7%+24.4%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.35+225%1.34+32.8%+6.0%−19.8%+7.7%+8.1%−16.1%−20.8%——23.2%+26.4%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.46+101%1.04+9.7%+10.4%−8.7%−25.3%+23.8%————23.6%+24.0%
GLD CommoditiesSPDR Gold Shares-0.02+126%0.96+63.7%−0.8%−1.9%−10.7%−2.2%+9.6%+4.9%+17.8%—22.3%+25.0%
XLE EnergyState Street Energy Select Sector SPDR ETF0.15+177%0.93+7.9%+64.4%−18.2%−21.5%−8.7%+2.8%−39.0%+40.1%—23.5%+26.1%
DFIV InternationalDimensional - International Value ETF0.33+99.4%0.93+45.4%−3.7%———————23.4%+24.1%
VLUE Broad MarketiShares MSCI USA Value Factor ETF0.46+109%0.90+32.7%−14.2%−11.1%−4.1%+12.8%————24.3%+24.5%
EWT TechnologyiShares MSCI Taiwan ETF0.44+153%0.89+28.4%−28.9%−9.9%−12.9%+7.0%−21.8%−45.3%+4.7%—24.8%+25.5%

Stocks

InvestmentCorrelation5Y returnSharpe20252022201820152014201120082005199880/20 mix volatility80/20 mix annual return
ETN Eaton Corporation plc (this page)1.00+153%0.74−2.8%−7.2%−10.0%−20.7%−8.2%−11.8%−47.1%−5.4%−19.0%27.7%+25.5%
CAH Medical - DistributionCardinal Health, Inc.0.19+479%1.55+76.3%+54.1%−24.5%+12.6%+23.0%+8.1%−39.6%+18.7%+51.7%23.7%+29.0%
MCK Medical - DistributionMcKesson Corporation0.17+413%1.44+44.5%+51.8%−28.4%−4.5%+29.3%+11.8%−40.4%+64.9%+46.9%23.5%+28.3%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.19+690%1.41+19.2%+86.6%−8.2%+17.4%+0.4%————24.2%+31.2%
HWM Aerospace & DefenseHowmet Aerospace Inc.0.49+594%1.36+87.9%+24.2%−37.5%−36.3%+50.9%−42.9%−67.4%−1.8%+7.0%26.2%+30.9%
ATI Manufacturing - Metal FabricationATI Inc.0.29+1,008%1.34+109%+87.5%−9.8%−66.7%−0.5%−12.2%−70.0%+68.2%—26.5%+34.3%
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Common questions

What was ETN's worst drawdown?

ETN's deepest decline since it began trading in 1986 was 68.9%, from July 2007 to March 2009. It took 20 months from the low to climb back to its old high.

What were ETN's best and worst years?

Over 29 full calendar years, ETN's best year was 2010, when it returned 64.0%. Its worst was 2008, with a return of -47.2%.

Is there a better investment than ETN?

Among ETN's popular alternatives, TT earned more than ETN with less volatility over the past 5 years: 22.7% a year at 27.7% volatility, against 20.4% a year at 32.1%. Looking beyond its popular alternatives, PH (industrial machinery) and WAB (industrial machinery) earned more than ETN with less volatility over the past 5 years. PH returned 27.4% a year at 28.8% volatility, against 20.4% a year at 32.1%.

Is ETN more volatile than the S&P 500?

Yes. ETN's volatility over the past 5 years was 32.1%, 1.9 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, ETN's return lands within 32.1% 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 ETN's Sharpe ratio?

ETN's Sharpe ratio over the past 5 years was 0.74, against 0.79 for the S&P 500, so ETN 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 ETN with the S&P 500?

Over the past 5 years, ETN's monthly returns had a correlation of 0.64 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 ETN instead: the lower it is, the more that option would diversify a ETN holding.

What are the best alternatives to ETN?

Of the 19 popular alternatives we compared, four outperformed ETN in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: PWR, TT and AZZ.

Did ETN outperform the S&P 500?

ETN finished ahead of the S&P 500 (SPY) in 17 of 29 full calendar years. In 2025, it returned -2.8%, against +17.7% for the index.

How did ETN do in stock market crashes?

ETN fell less than the S&P 500 (SPY) in one of the ten major crashes it has traded through, and further in seven. The clearest case was the 2011 euro debt crisis, when ETN fell 34.6% and the S&P 500 fell 17.9%.

What diversifies ETN?

These had a low correlation with ETN over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.27), DXJ (correlation 0.35) and EMLP (correlation 0.46); among large stocks, CAH (correlation 0.19), MCK (correlation 0.17) and MPC (correlation 0.19). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to ETN

Other stocks and ETFs