Relative Intelligence · Electric Utilities
How Exelon (EXC) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on EXC alone. It places EXC (Exelon Corporation) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where EXC stands in the market, and of the alternatives worth a closer look.
Period covered: EXC's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.
Data as of October 20, 2026. Full tables and charts read best on a larger screen.
On this page12 sections
Key findings
- Right nowEXC has gone against the market, falling 5.5% over the past 6 months while the S&P 500 rose 9.1%. At a glance ↓
- Stock or market?EXC's 5.5% fall over the past 3 months is part of a broader electric utilities sell-off: the electric utilities ETF XLU (State Street Utilities Select Sector SPDR ETF) fell 6.1%, with SO (Southern, down 3.2%) and D (Dominion Energy, down 9.8%). EXC rose 2.5% last month as the S&P 500 fell 0.6% and the Nasdaq 100 fell 3.2%.
- Past 1 to 3 yearsOver the past year, EXC fell 7.5% while the S&P 500 rose 15.8%. The same gap shows up over 3 years (22.6% against 89.3%). On the flip side, EXC lagged its electric utility peers in 2023, then moved up the pack in 2025. By year ↓
- Long termEXC turned $10,000 into $25,900 over the past decade, against $42,100 in the S&P 500. Growth of $10,000 ↓
- In a crashIn the 2015 China and oil sell-off, EXC fell 24.7%, against 12.8% for the S&P 500, and more than electric utility peers such as SO (Southern, 9.4%). EXC fell further than the S&P 500 in three of the last three sell-offs, including the 2015 China and oil sell-off (24.7% against 12.8%). Crash tests ↓
- DiversificationEXC is a real diversifier: a correlation of 0.25 with the S&P 500 over 5 years and 0.23 with the total US market, less closely than 80% of stocks worth at least $300 million. Over 10 years, EXC's beta versus the S&P 500 was 0.37: 40% of the S&P 500's gains in rising months and 21% of its losses in falling ones. Market capture ↓
- Better options
- Popular alternatives
- ED (Consolidated Edison), SO (Southern) and FE (FirstEnergy) earned more than EXC with less volatility over the past 5 years. ED returned 12.0% a year at 18.8% volatility, against 7.1% a year at 20.9%.
- Nearby categories and themes
- FTS (Fortis, electric utilities) and IDA (IDACORP, electric utilities) earned more than EXC with less volatility over the past 5 years. FTS returned 8.4% a year at 16.4% volatility, against 7.1% a year at 20.9%.
- Whole market
- 371 of the 3,633 stocks and funds worth at least $500 million earned more than EXC 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 EXC have grown?
This chart tracks a hypothetical $10,000 investment in EXC over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of EXC over the same span and EXC's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.
- $10,000 invested in EXC at the end of September 1997 would have grown to $136,951 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 EXC, and ETN finished highest, at $538,468.
Choose a period
From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 425 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of EXC; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- ETN$538,468+5,285% total · +14.7% a year
- ETR$234,668+2,247% total · +11.5% a year
- SO$225,240+2,152% total · +11.3% a year
- LNT$152,541+1,425% total · +9.9% a year
- NI$152,353+1,424% total · +9.8% a year
- EXC$136,951+1,270% total · +9.4% a year
- SPY (S&P 500)$132,907+1,229% total · +9.3% a year
- AEE$96,296+863% total · +8.1% a year
- DUK$96,218+862% total · +8.1% a year
- AEP$92,393+824% total · +8.0% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,756 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of EXC; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- PWR$56,870+469% total · +41.6% a year
- ETN$31,102+211% total · +25.5% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- AEP$17,493+74.9% total · +11.8% a year
- ED$16,736+67.4% total · +10.8% a year
- SO$16,055+60.5% total · +9.9% a year
- PNW$16,000+60.0% total · +9.9% a year
- FE$14,915+49.2% total · +8.3% a year
- AEE$14,215+42.1% total · +7.3% a year
- EXC$13,993+39.9% total · +7.0% a year
EXC 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.
- EXC's deepest decline since it began trading in 1986 was 62.2%, from July 2008 to January 2014. It took about eight years from the low to climb back to its old high.
- Over 29 full calendar years, EXC's best was 2000, when it returned 106%, and its worst was 2008, when it lost 29.9%. It lost money in ten of those years.
- EXC is 12.8% below its all-time high.
The company
- Market value
- $44B
- Industry
- Regulated Electric
- Price history from
- October 1986
Returns
- Past 1 year
- −7.5%total return
- Past 3 years
- +22.6%+7.0% a year
- Past 5 years
- +40.7%+7.1% a year
- Past 10 years
- +159%+10.0% a year
- Best calendar year
- +106%2000
- Worst calendar year
- −29.9%2008
- Losing years
- 10 of 29full calendar years
Risk
- Volatility
- 20.9%typical yearly swing, 5 years
- Sharpe ratio
- 0.43return per unit of risk, 5 years
- Worst decline ever
- −62.2%Jul 2008 to Jan 2014
- From its all-time high
- −12.8%below the peak
EXC against the whole market
Where EXC ranks among every stock and fund, and what across the market has done better.
How does EXC rank among all stocks?
This section ranks EXC 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 EXC stacks up against its peers, these rankings show where it stands in the market as a whole.
- EXC is among the steadier stocks: its price swings rank in the top 4% of the 2,893 stocks worth at least $300 million, where the top is the calmest.
Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.
| Measure | EXC | Rank | Standing |
|---|---|---|---|
| 1-year return | −7.5% | 2,263 of 3,287 | bottom 32% |
| 3-year return | +22.6% | 1,973 of 3,017 | bottom 36% |
| 5-year return | +40.7% | 1,202 of 2,893 | top 42% |
| 10-year return | +159% | 1,034 of 2,202 | top 47% |
| Volatility, 5 years | 20.9% | 118 of 2,893 | top 4% |
| Sharpe ratio, 5 years | 0.43 | 1,133 of 2,893 | top 39% |
| Worst decline, past 10 years | −40.0% | 155 of 2,187 | top 7% |
What has beaten EXC 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). EXC sits where the dashed lines cross. Anything in the green box above and to the left earned more than EXC 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.
- 22 stocks and 349 ETFs worth at least $500 million sit in the green region: each earned more than EXC over the past 5 years with smaller price swings. That is 10% of the 3,633 screened.
- Among those with at least half EXC's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 47% less than EXC's 20.9%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.43 for EXC. DXJ earned the most, 26.6% a year, while still swinging less than EXC (19.1% against 20.9%).
- Among EXC's popular alternatives, ED, SO and EVRG are in the region. ED earned 12.0% a year against 7.1% a year for EXC, at 18.8% volatility, 10% less than EXC's 20.9%.
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 EXC; faint dots are 90 more of the 371 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.
- Popular alternatives
- Same and neighboring categories, and shared themes
- The whole market
- Others in the green region
Is there a better investment than EXC?
Investments that beat EXC over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among EXC's popular alternatives, ED, SO and FE earned more than EXC with less volatility over the past 5 years. ED returned 12.0% a year at 18.8% volatility, against 7.1% a year at 20.9%.
- Looking beyond its popular alternatives, FTS (electric utilities) and IDA (electric utilities) earned more than EXC with less volatility over the past 5 years. FTS returned 8.4% a year at 16.4% volatility, against 7.1% a year at 20.9%.
- Across the whole market, 371 of the 3,633 stocks and funds worth at least $500 million earned more than EXC with less volatility over the past 5 years, among them VTI, VOO and BRK-B.
How this works
The table below lists investments that beat EXC 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 EXC'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 EXC 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 EXC'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× EXC's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than EXC's.
| Investment | Why it is better | Past 5 years | Downside | Long run | Fit | ||||
|---|---|---|---|---|---|---|---|---|---|
| Annual return?higher is better | Volatility?lower is calmer | Sharpe?return per unit of risk | Worst decline?past 10 years | 10Y returntotal | Corr. with EXC?lower diversifies more | Expenseper year | |||
| EXCExelon Corporation · this page | +7.1% | 20.9% | 0.43 | −40.0% | +159% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.25 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against EXC. 13 of 24 passed at least one test. | |||||||||
 EDConsolidated Edison, Inc. · Electric Utilities | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +12.0% | 18.8% | 0.70 | −30.9% | +114% | 0.80 | — | |
 AEPAmerican Electric Power Company, Inc. · Electric Utilities | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +12.4% | 20.2% | 0.68 | −32.9% | +185% | 0.78 | — | |
 SOThe Southern Company · Electric Utilities | Higher return, lower volatilityHigher return in most periods | +11.3% | 18.8% | 0.67 | −38.4% | +170% | 0.74 | — | |
FEFirstEnergy Corp. · Electric Utilities | Higher return, lower volatilityHigher return in most periods | +8.5% | 19.4% | 0.52 | −47.7% | +111% | 0.78 | — | |
PNWPinnacle West Capital Corporation · Electric Utilities | Higher return, similar volatilityHigher return in most periods | +13.4% | 19.9% | 0.73 | −39.3% | +103% | 0.68 | — | |
NINiSource Inc · Gas Utilities | Higher return, similar volatilityHigher Sharpe, smaller worst decline | +15.1% | 20.3% | 0.80 | −30.9% | +158% | 0.76 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Electric Utilities and the categories next to it (Independent Power Producers, Electrical Equipment, Engineering & Construction, Gas Utilities), plus EXC's specific themes. 15 of 59 passed at least one test. | |||||||||
FTSFortis Inc. · Electric Utilities | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +8.4% | 16.4% | 0.58 | −34.3% | +154% | 0.73 | — | |
IDAIDACORP, Inc. · Electric Utilities | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +8.8% | 19.2% | 0.54 | −34.3% | +141% | 0.64 | — | |
CNPCenterPoint Energy, Inc. · Electric Utilities | Higher return, lower volatilityHigher return in most periods | +11.4% | 19.6% | 0.65 | −59.8% | +142% | 0.67 | — | |
ATOAtmos Energy Corporation · Gas Utilities | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +14.9% | 18.4% | 0.85 | −32.9% | +194% | 0.69 | — | |
 NGGNational Grid plc · Electric Utilities | Higher return, similar volatilityHigher return in most periods | +11.8% | 22.6% | 0.61 | −39.2% | +118% | 0.56 | — | |
TXNMTXNM Energy, Inc. · Electric Utilities | Similar return, lower volatility | +7.2% | 14.9% | 0.54 | −46.4% | +150% | 0.31 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 947 of 3,550 passed at least one test. | |||||||||
 GLDSPDR Gold Shares · Gold | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.38 | 0.40% | |
 VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.23 | 0.03% | |
 VOOVanguard S&P 500 ETF · US Large-Cap Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.25 | 0.03% | |
 BRK-BBerkshire Hathaway Inc. · Insurance | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.57 | — | |
 JNJJohnson & Johnson · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.47 | — | |
 WMTWalmart Inc. · Discount Retail | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.28 | — | |
 JEPIJPMorgan Equity Premium Income ETF · Equity Income | Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +7.5% | 11.0% | 0.71 | −13.7% | — | 0.51 | 0.35% | |
GLTRabrdn Physical Precious Metals Basket Shares ETF · Alternatives | Higher return in most periodsSmaller losses in recent crashes | +14.9% | 24.6% | 0.69 | −37.9% | +191% | 0.30 | 0.60% | |
What these numbers mean for EXC
- Annual return
- EXC returned 7.1% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $14,100. 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
- EXC's volatility over the past 5 years was 20.9%, 1.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, EXC's return lands within 20.9% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
- Sharpe ratio
- EXC's Sharpe ratio over the past 5 years was 0.43, against 0.79 for the S&P 500, so EXC 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
- EXC's worst fall from a peak to a low over the past 10 years was 40.0%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 40.0% fall takes a 66.7% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, EXC's monthly returns had a correlation of 0.25 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against EXC instead: the lower it is, the more that option would diversify a EXC holding. Guide: Correlation and diversification →
Show all 371 stocks and funds worth at least $500 million that earned more than EXC with less volatility
Out of 3,633 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.
| # | Investment | Found in | Annual return | Volatility | Sharpe | Worst decline | 10Y return | Corr. with EXC | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | GLDSPDR Gold Shares · Gold | Whole market | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.38 | 0.40% |
| 2 | VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Whole market | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 0.23 | 0.03% |
| 3 | VOOVanguard S&P 500 ETF · US Large-Cap Equity | Whole market | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 0.25 | 0.03% |
| 4 | BRK-BBerkshire Hathaway Inc. · Insurance | Whole market | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.57 | — |
| 5 | JNJJohnson & Johnson · Pharmaceuticals | Whole market | +12.7% | 17.9% | 0.76 | −27.4% | +196% | 0.47 | — |
| 6 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.51 | 0.40% |
| 7 |  IEFAiShares Core MSCI EAFE ETF · Developed International Equity | Whole market | +8.3% | 16.6% | 0.56 | −34.8% | +140% | 0.43 | 0.07% |
| 8 |  VIGVanguard Dividend Appreciation ETF · US Dividend Equity | Whole market | +10.4% | 14.1% | 0.78 | −31.7% | +258% | 0.43 | 0.04% |
| 9 |  SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Whole market | +9.7% | 14.3% | 0.72 | −33.4% | +252% | 0.45 | 0.06% |
| 10 |  VTVanguard Total World Stock ETF · Global Equity | Whole market | +10.3% | 16.2% | 0.69 | −34.2% | +223% | 0.31 | 0.06% |
| 11 |  RSGRepublic Services, Inc. · Environmental Services | Whole market | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.42 | — |
| 12 | PJULInnovator U.S. Equity Power Buffer ETF · Broad Market | Whole market | +10.5% | 8.6% | 1.20 | −18.2% | — | 0.21 | 0.79% |
| 13 |  WMWaste Management, Inc. · Environmental Services | Whole market | +9.3% | 19.2% | 0.56 | −30.1% | +344% | 0.39 | — |
| 14 | FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset | Whole market | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.16 | 0.85% |
| 15 |  DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity | Whole market | +14.7% | 17.5% | 0.87 | −34.7% | — | 0.20 | 0.26% |
| 16 |  XLVState Street Health Care Select Sector SPDR ETF · Health Care Equity | Whole market | +8.4% | 15.3% | 0.60 | −28.4% | +202% | 0.44 | 0.08% |
| 17 | DFIVDimensional - International Value ETF · International Equity | Whole market | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.47 | 0.27% |
| 18 | AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Whole market | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.36 | 0.15% |
| 19 | SPHQInvesco S&P 500 Quality ETF · US Quality Equity | Whole market | +12.0% | 16.7% | 0.76 | −31.6% | +300% | 0.35 | 0.20% |
| 20 | EWJiShares MSCI Japan ETF · International Equity | Whole market | +9.2% | 18.8% | 0.57 | −33.1% | +132% | 0.29 | 0.49% |
| 21 | BUFRFT Vest Laddered Buffer ETF · Buffered Equity | Whole market | +9.9% | 10.5% | 0.96 | −13.7% | — | 0.24 | 0.10% |
| 22 |  RYRoyal Bank of Canada · Banks | Whole market | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.14 | — |
| 23 | DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity | Whole market | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.38 | 0.35% |
| 24 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.22 | 0.40% |
| 25 | XLGInvesco S&P 500 Top 50 ETF · US Large-Cap Equity | Whole market | +13.8% | 18.9% | 0.78 | −30.5% | +379% | 0.13 | 0.20% |
| 26 | JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity | Whole market | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.30 | 0.12% |
| 27 | DIVOAmplify CWP Enhanced Dividend Income ETF · Equity Income | Whole market | +11.1% | 11.9% | 0.95 | −30.0% | — | 0.48 | 0.56% |
| 28 | VPLVanguard FTSE Pacific ETF · International Equity | Whole market | +9.5% | 18.6% | 0.58 | −33.9% | +141% | 0.32 | 0.07% |
| 29 | MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity | Whole market | +9.1% | 18.4% | 0.57 | −33.3% | +276% | 0.31 | 0.46% |
| 30 | JAVAJPMorgan Active Value ETF · US Large-Cap Value | Whole market | +11.5% | 14.5% | 0.82 | −16.5% | — | — | 0.44% |
| 31 | QYLDGlobal X - Nasdaq 100 Covered Call ETF · Equity Income | Whole market | +8.4% | 15.0% | 0.62 | −24.7% | +156% | 0.17 | 0.60% |
| 32 | DBMFiMGP DBi Managed Futures Strategy ETF · Alternatives | Whole market | +9.8% | 12.4% | 0.82 | −20.4% | — | -0.09 | 0.85% |
| 33 | USMCPrincipal U.S. Mega-Cap ETF · Broad Market | Whole market | +14.1% | 16.4% | 0.89 | −30.0% | — | 0.21 | 0.12% |
| 34 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.42 | — |
| 35 | IDMOInvesco S&P International Developed Momentum ETF · International Equity | Whole market | +13.3% | 18.2% | 0.78 | −31.3% | +229% | 0.39 | 0.25% |
| 36 | FTSFortis Inc. · Electric Utilities | Same or nearby category | +8.4% | 16.4% | 0.58 | −34.3% | +154% | 0.73 | — |
| 37 | FTLSFirst Trust Long/Short Equity ETF · Broad Market | Whole market | +10.2% | 10.4% | 0.99 | −20.6% | +158% | 0.25 | 0.95% |
| 38 | OMFLInvesco Russell 1000 Dynamic Multifactor ETF · US Multifactor Equity | Whole market | +9.0% | 16.4% | 0.61 | −33.2% | — | 0.29 | 0.29% |
| 39 | PTLCPacer Trendpilot US Large Cap ETF · Broad Market | Whole market | +9.5% | 11.8% | 0.83 | −26.6% | +188% | 0.11 | 0.60% |
| 40 | SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology | Whole market | +15.0% | 19.5% | 0.82 | −30.8% | — | 0.15 | 0.45% |
| 41 | EDConsolidated Edison, Inc. · Electric Utilities | Popular alternative | +12.0% | 18.8% | 0.70 | −30.9% | +114% | 0.80 | — |
| 42 | DIVIFranklin International Core Dividend Tilt Index ETF · International | Whole market | +13.4% | 15.5% | 0.89 | −27.7% | +184% | 0.44 | 0.09% |
| 43 | EQWLInvesco S&P 100 Equal Weight ETF · Broad Market | Whole market | +11.6% | 15.0% | 0.81 | −34.3% | +291% | 0.38 | 0.30% |
| 44 | BCIabrdn Bloomberg All Commodity Strategy K-1 Free ETF · Alternatives | Whole market | +10.1% | 16.7% | 0.66 | −32.7% | — | 0.36 | 0.26% |
| 45 | AOAiShares Core 80/20 Aggressive Allocation ETF · Multi-Asset | Whole market | +8.6% | 13.1% | 0.69 | −28.4% | +165% | 0.33 | 0.19% |
| 46 | ACIOAptus Collared Income Opportunity ETF · Dividend & Income | Whole market | +9.3% | 11.1% | 0.86 | −14.2% | — | 0.21 | 0.79% |
| 47 | FTHIFirst Trust BuyWrite Income ETF · Dividend & Income | Whole market | +10.3% | 13.3% | 0.81 | −32.7% | +126% | 0.36 | 0.75% |
| 48 | SCHYSchwab International Dividend Equity ETF · International | Whole market | +9.5% | 13.3% | 0.75 | −24.0% | — | 0.52 | 0.08% |
| 49 | FLQLFranklin U.S. Large Cap Multifactor Index ETF · Broad Market | Whole market | +13.8% | 16.3% | 0.88 | −33.6% | — | 0.25 | 0.15% |
| 50 | JMOMJPMorgan U.S. Momentum Factor ETF · Broad Market | Whole market | +12.9% | 19.1% | 0.73 | −34.3% | — | 0.23 | 0.12% |
| 51 | HFXINYLI FTSE International Equity Currency Neutral ETF · International | Whole market | +11.4% | 15.3% | 0.79 | −32.4% | +180% | 0.39 | 0.19% |
| 52 | DSTLDistillate U.S. Fundamental Stability & Value ETF · Broad Market | Whole market | +11.3% | 16.1% | 0.75 | −33.1% | — | 0.40 | 0.39% |
| 53 | DDWMWisdomTree Dynamic International Equity Fund · International | Whole market | +12.3% | 13.4% | 0.94 | −35.0% | +149% | 0.47 | 0.40% |
| 54 | IDAIDACORP, Inc. · Electric Utilities | Same or nearby category | +8.8% | 19.2% | 0.54 | −34.3% | +141% | 0.64 | — |
| 55 | IPACiShares Core MSCI Pacific ETF · International | Whole market | +8.2% | 16.9% | 0.55 | −31.0% | +126% | 0.37 | 0.09% |
| 56 | IHEiShares U.S. Pharmaceuticals ETF · Broad Market | Whole market | +12.6% | 16.8% | 0.80 | −29.6% | +151% | 0.42 | 0.37% |
| 57 | RLYState Street Multi-Asset Real Return ETF · Multi-Asset | Whole market | +9.9% | 13.3% | 0.78 | −34.2% | +128% | 0.57 | 0.50% |
| 58 | RAAXVanEck Real Assets ETF · Commodities | Whole market | +11.7% | 15.6% | 0.79 | −33.9% | — | 0.59 | 0.55% |
| 59 | INFLHorizon Kinetics Inflation Beneficiaries ETF · Broad Market | Whole market | +11.8% | 17.8% | 0.72 | −21.3% | — | 0.56 | 0.85% |
| 60 | FDLOFidelity Low Volatility Factor ETF · Broad Market | Whole market | +9.8% | 13.0% | 0.79 | −34.4% | +249% | 0.39 | 0.15% |
| 61 | TDVGT. Rowe Price Dividend Growth ETF · Dividend & Income | Whole market | +9.6% | 13.8% | 0.73 | −19.2% | — | 0.46 | 0.50% |
| 62 | DBJPXtrackers MSCI Japan Hedged Equity ETF · International | Whole market | +20.9% | 19.2% | 1.09 | −31.3% | +348% | 0.10 | 0.45% |
| 63 | PPHVanEck Pharmaceutical ETF · Healthcare | Whole market | +11.6% | 15.8% | 0.78 | −29.7% | +153% | 0.46 | 0.36% |
| 64 | PTNQPacer Trendpilot 100 ETF · Technology | Whole market | +9.7% | 14.1% | 0.73 | −28.1% | +305% | -0.01 | 0.65% |
| 65 | FTXHFirst Trust Nasdaq Pharmaceuticals ETF · Healthcare | Whole market | +11.9% | 16.9% | 0.75 | −32.1% | +153% | 0.34 | 0.60% |
| 66 | HLALWahed FTSE USA Shariah ETF · Broad Market | Whole market | +14.0% | 18.0% | 0.82 | −33.6% | — | 0.19 | 0.50% |
| 67 | EQLALPS Equal Sector Weight ETF · Broad Market | Whole market | +13.5% | 14.5% | 0.94 | −34.2% | +387% | 0.48 | 0.19% |
| 68 | FLSPFranklin Systematic Style Premia ETF · Alternatives | Whole market | +8.4% | 13.4% | 0.68 | −22.9% | — | 0.27 | 0.65% |
| 69 | NTSXWisdomTree U.S. Efficient Core Fund · Alternatives | Whole market | +8.2% | 17.2% | 0.55 | −31.4% | — | 0.27 | 0.20% |
| 70 | SIXHETC 6 Meridian Hedged Equity Index Option ETF · Broad Market | Whole market | +10.2% | 10.2% | 1.00 | −11.7% | — | 0.53 | 0.31% |
| 71 | IDHQInvesco S&P International Developed Quality ETF · International | Whole market | +10.0% | 17.9% | 0.63 | −33.6% | +183% | 0.39 | 0.29% |
| 72 | DGTState Street SPDR Global Dow ETF · International | Whole market | +13.8% | 15.1% | 0.94 | −34.4% | +261% | 0.45 | 0.50% |
| 73 | DXJWisdomTree Japan Hedged Equity Fund · International Equity | Whole market | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.16 | 0.48% |
| 74 |  KOThe Coca-Cola Company · Food & Beverages | Whole market | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.60 | — |
| 75 | OUSAALPS Funds O’Shares U.S. Quality Dividend ETF · Dividend & Income | Whole market | +9.4% | 13.4% | 0.74 | −33.1% | +186% | 0.42 | 0.48% |
| 76 | VSLUApplied Finance Valuation Large Cap ETF · Broad Market | Whole market | +13.7% | 16.2% | 0.88 | −23.8% | — | 0.24 | 0.49% |
| 77 | FXUFirst Trust Utilities AlphaDEX Fund · Utilities | Whole market | +11.2% | 16.6% | 0.72 | −34.8% | +138% | 0.76 | 0.61% |
| 78 | NXTGFirst Trust Indxx NextG ETF · Technology | Whole market | +16.2% | 19.1% | 0.89 | −33.6% | +330% | 0.16 | 0.70% |
| 79 | DJDInvesco Dow Jones Industrial Average Dividend ETF · Dividend & Income | Whole market | +11.8% | 13.3% | 0.91 | −34.7% | +227% | 0.54 | 0.07% |
| 80 | SSUSStrategy Shares Day Hagan Smart Sector ETF · Broad Market | Whole market | +10.5% | 15.4% | 0.73 | −23.8% | — | 0.21 | 0.77% |
| 81 | PJPInvesco Pharmaceuticals ETF · Healthcare | Whole market | +11.2% | 16.6% | 0.72 | −34.0% | +135% | 0.30 | 0.58% |
| 82 | FDEMFidelity Emerging Markets Multifactor ETF · International | Whole market | +9.2% | 17.0% | 0.61 | −33.7% | — | 0.22 | 0.25% |
| 83 |  EPDEnterprise Products Partners L.P. · Oil & Gas Midstream | Whole market | +16.4% | 17.1% | 0.98 | −58.1% | +178% | 0.41 | — |
| 84 |  ENBEnbridge Inc. · Oil & Gas Midstream | Whole market | +9.1% | 18.9% | 0.56 | −44.1% | +103% | 0.57 | — |
| 85 |  TAKTakeda Pharmaceutical Company Limited · Pharmaceuticals | Whole market | +11.9% | 19.4% | 0.68 | −54.4% | +30.4% | 0.15 | — |
| 86 |  VBRVanguard Morningstar Small-Cap Value ETF · US Small-Cap Equity | Whole market | +8.2% | 19.4% | 0.51 | −45.3% | +169% | 0.33 | 0.05% |
| 87 | SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds | Whole market | +20.6% | 18.4% | 1.12 | −45.7% | — | 0.37 | 0.80% |
| 88 |  SLFSun Life Financial Inc. · Life Insurance | Whole market | +11.7% | 19.4% | 0.67 | −50.8% | +255% | 0.28 | — |
| 89 |  XLFState Street Financial Select Sector SPDR ETF · Financial Sector Equity | Whole market | +8.6% | 18.3% | 0.54 | −42.9% | +241% | 0.28 | 0.08% |
| 90 | FNDFSchwab Fundamental International Large Company Index ETF · International Equity | Whole market | +13.6% | 16.3% | 0.87 | −40.2% | +194% | 0.45 | 0.25% |
| 91 | VOEVanguard Morningstar Mid-Cap Value ETF · US Mid-Cap Equity | Whole market | +9.4% | 15.8% | 0.65 | −43.2% | +182% | 0.47 | 0.05% |
| 92 | XLIState Street Industrial Select Sector SPDR ETF · US Industrials | Whole market | +11.5% | 17.6% | 0.71 | −42.3% | +246% | 0.43 | 0.08% |
| 93 | LLoews Corporation · Property & Casualty Insurance | Whole market | +14.3% | 19.2% | 0.80 | −48.5% | +180% | 0.46 | — |
| 94 | HDViShares Core High Dividend ETF · US Dividend Equity | Whole market | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.60 | 0.08% |
| 95 | AVDVAvantis International Small Cap Value ETF · International Equity | Whole market | +13.9% | 17.4% | 0.84 | −43.0% | — | 0.40 | 0.36% |
| 96 | RDVYFirst Trust Rising Dividend Achievers ETF · US Dividend Equity | Whole market | +11.3% | 18.8% | 0.67 | −40.6% | +322% | 0.32 | 0.47% |
| 97 | EMXCiShares MSCI Emerging Markets ex China ETF · Emerging Markets Equity | Whole market | +11.1% | 19.5% | 0.64 | −42.8% | — | 0.18 | 0.25% |
| 98 | COWZPacer US Cash Cows 100 ETF · US Large-Cap Value | Whole market | +11.4% | 17.7% | 0.70 | −38.7% | — | 0.41 | 0.49% |
| 99 | AMLPAlerian MLP ETF · Energy Equity | Whole market | +16.1% | 18.9% | 0.89 | −72.9% | +91.0% | 0.35 | 1.01% |
| 100 | SCHVSchwab U.S. Large-Cap Value ETF · US Large-Cap Value | Whole market | +10.2% | 14.4% | 0.75 | −37.1% | +195% | 0.46 | 0.04% |
EXC against its popular alternatives
The investments people most often weigh against EXC, compared period by period and year by year.
How do EXC'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 EXC, which divides the map into what did better or worse on each measure.
- 11 of the 24 popular alternatives, led by NI, PNW and AEP, were both more rewarding and calmer than EXC over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, EXC returned 7.1% a year, less than the S&P 500's 12.7%, with higher volatility (20.9% against 17.1%).
Green points earned more than EXC with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| VST Vistra Corp. | +53.4% | 48.6% |
| PWR Quanta Services, Inc. | +39.3% | 37.2% |
| HUBB Hubbell Incorporated | +21.0% | 30.0% |
| ETN Eaton Corporation plc | +20.4% | 32.1% |
| ETR Entergy Corporation | +19.2% | 22.4% |
| NI NiSource Inc | +15.1% | 20.3% |
| PNW Pinnacle West Capital Corporation | +13.4% | 19.9% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| AEP American Electric Power Company, Inc. | +12.4% | 20.2% |
| ED Consolidated Edison, Inc. | +12.0% | 18.8% |
| SO The Southern Company | +11.3% | 18.8% |
| EVRG Evergy, Inc. | +9.5% | 18.9% |
| FE FirstEnergy Corp. | +8.5% | 19.4% |
| AEE Ameren Corporation | +7.8% | 19.4% |
| DUK Duke Energy Corporation | +7.5% | 18.0% |
| LNT Alliant Energy Corporation | +7.3% | 19.8% |
| WEC WEC Energy Group, Inc. | +7.2% | 19.0% |
| EXC This pageExelon Corporation | +7.1% | 20.9% |
| PPL PPL Corporation | +7.1% | 18.9% |
| XEL Xcel Energy Inc. | +6.5% | 20.9% |
| PEG Public Service Enterprise Group Incorporated | +5.8% | 20.6% |
| DTE DTE Energy Company | +5.7% | 19.0% |
| CMS CMS Energy Corporation | +5.6% | 19.0% |
| EIX Edison International | +4.1% | 28.5% |
| D Dominion Energy, Inc. | +0.5% | 22.7% |
| ES Eversource Energy | −1.4% | 23.9% |
Has EXC consistently beaten its popular alternatives?
This section compares EXC 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 EXC helps separate lasting outperformance from a single strong stretch.
- 13 of the 25 popular alternatives, led by AEE, AEP and SO, outperformed EXC in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- AEE, AEP and SO outperformed EXC in every long-term period and in all but one short-term period, the most consistent record in the group.
- NI, PNW and ED earned more for the risk they took than EXC (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
A green cell means the alternative earned more than EXC over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| EXC Exelon Corporation (this page) | — | +2.5% | −5.5% | −5.5% | +0.7% | −7.5% | +22.6% | +40.7% | +159% | 20.9% | 0.43 | −40.0% | — | $44B | — |
| AEE QualifiedAmeren Corporation | 5/5 short3/3 longAll-weather | +4.3% | −3.1% | −3.2% | +7.6% | +3.4% | +52.5% | +45.9% | +192% | 19.4% | 0.49 | −29.1% | — | $29B | — |
| AEP QualifiedAmerican Electric Power Company, Inc. | 5/5 short3/3 longAll-weather | +6.0% | −2.2% | −3.1% | +12.4% | +11.3% | +93.3% | +79.4% | +185% | 20.2% | 0.68 | −32.9% | — | $69B | — |
| SO QualifiedThe Southern Company | 5/5 short3/3 longAll-weather | +6.1% | −3.2% | −1.4% | +6.6% | −4.1% | +53.0% | +70.9% | +170% | 18.8% | 0.67 | −38.4% | — | $104B | — |
| PWR QualifiedQuanta Services, Inc. | 3/5 short3/3 long | −7.2% | −5.8% | −1.5% | +35.6% | +35.3% | +263% | +425% | +2,045% | 37.2% | 1.08 | −45.5% | — | $90B | — |
| ETN QualifiedEaton Corporation plc | 3/5 short3/3 long | −12.3% | −4.6% | −5.8% | +17.7% | +2.3% | +104% | +153% | +657% | 32.1% | 0.74 | −44.5% | — | $148B | — |
| ETR QualifiedEntergy Corporation | 3/5 short3/3 long | +3.5% | −5.5% | −6.4% | +14.1% | +11.4% | +149% | +141% | +311% | 22.4% | 0.90 | −42.0% | — | $50B | — |
| DUK QualifiedDuke Energy Corporation | 5/5 short2/3 long | +3.9% | −2.7% | −3.5% | +6.0% | −2.6% | +56.1% | +43.9% | +132% | 18.0% | 0.50 | −37.4% | — | $95B | — |
| ED QualifiedConsolidated Edison, Inc. | 5/5 short2/3 long | +7.8% | +1.7% | +3.8% | +14.7% | +13.7% | +42.4% | +76.3% | +114% | 18.8% | 0.70 | −30.9% | — | $41B | — |
| EVRG QualifiedEvergy, Inc. | 5/5 short2/3 long | +4.5% | −1.9% | +3.2% | +16.3% | +9.0% | +93.6% | +57.2% | +109% | 18.9% | 0.57 | −38.8% | — | $19B | — |
| PNW QualifiedPinnacle West Capital Corporation | 5/5 short2/3 long | +10.3% | −2.3% | +1.8% | +20.0% | +15.3% | +57.1% | +87.3% | +103% | 19.9% | 0.73 | −39.3% | — | $12B | — |
| LNT QualifiedAlliant Energy Corporation | 4/5 short2/3 long | +5.1% | −7.0% | −4.3% | +6.5% | +2.6% | +54.6% | +42.3% | +150% | 19.8% | 0.46 | −33.5% | — | $18B | — |
| NI QualifiedNiSource Inc | 3/5 short2/3 long | +5.5% | −5.1% | −9.3% | +3.4% | +0.1% | +86.1% | +102% | +158% | 20.3% | 0.80 | −30.9% | — | $21B | — |
| FE QualifiedFirstEnergy Corp. | 3/5 short2/3 long | +1.7% | −4.9% | −5.7% | +4.1% | +0.7% | +46.8% | +50.2% | +111% | 19.4% | 0.52 | −47.7% | — | $26B | — |
| VST Independent Power ProducersVistra Corp. | 2/5 short3/3 long | +6.8% | −4.7% | −5.5% | −8.6% | −22.2% | +383% | +748% | +1,195% | 48.6% | 1.13 | −53.3% | — | $50B | — |
| HUBB Electrical Equipment & PartsHubbell Incorporated | 1/5 short3/3 long | +0.4% | −5.0% | −15.4% | +0.1% | +7.7% | +70.6% | +159% | +442% | 30.0% | 0.79 | −41.6% | — | $24B | — |
| WEC Regulated ElectricWEC Energy Group, Inc. | 5/5 short1/3 long | +5.1% | −2.5% | −3.9% | +4.8% | −4.3% | +49.1% | +41.6% | +159% | 19.0% | 0.46 | −32.3% | — | $35B | — |
| XEL Regulated ElectricXcel Energy Inc. | 5/5 short1/3 long | +6.7% | −1.7% | −3.0% | +5.1% | −2.7% | +46.0% | +37.3% | +156% | 20.9% | 0.41 | −34.4% | — | $48B | — |
| PPL Regulated ElectricPPL Corporation | 3/5 short1/3 long | +4.7% | −1.5% | −9.2% | +0.9% | −5.2% | +60.8% | +40.7% | +59.2% | 18.9% | 0.46 | −48.7% | — | $26B | — |
| D Regulated ElectricDominion Energy, Inc. | 3/5 short1/3 long | 0.0% | −9.8% | +3.0% | +9.4% | +6.6% | +80.8% | +2.7% | +32.5% | 22.7% | 0.14 | −52.2% | — | $55B | — |
| DTE Regulated ElectricDTE Energy Company | 2/5 short1/3 long | +2.5% | −10.6% | −9.8% | +1.7% | −6.7% | +48.3% | +32.2% | +127% | 19.0% | 0.39 | −42.4% | — | $27B | — |
| CMS Regulated ElectricCMS Energy Corporation | 2/5 short1/3 long | +5.8% | −5.4% | −9.8% | −0.6% | −6.0% | +42.2% | +31.4% | +123% | 19.0% | 0.38 | −29.6% | — | $21B | — |
| ES Regulated ElectricEversource Energy | 2/5 short1/3 long | −2.2% | −10.6% | −2.2% | −0.5% | −6.0% | +40.5% | −7.0% | +72.0% | 23.9% | 0.06 | −41.7% | — | $25B | — |
| CEG Independent Power ProducersConstellation Energy Corporation | 1/5 short1/3 long | −1.2% | +2.3% | −9.7% | −29.0% | −29.7% | +135% | — | — | — | — | −50.7% | — | $92B | — |
| PEG Regulated ElectricPublic Service Enterprise Group Incorporated | 0/5 short1/3 long | +2.2% | −8.1% | −10.7% | −10.2% | −13.6% | +31.9% | +32.3% | +142% | 20.6% | 0.38 | −40.8% | — | $35B | — |
| EIX Regulated ElectricEdison International | 2/5 short0/3 long | +4.6% | −25.6% | −17.6% | −2.0% | +3.6% | +5.2% | +22.0% | +21.5% | 28.5% | 0.29 | −43.9% | — | $22B | — |
How did EXC do year by year?
This table shows each investment's total return in every full calendar year since 1997, along with where EXC ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with EXC and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- EXC finished ahead of the S&P 500 in 16 of its 29 full calendar years.
- Among its popular alternatives, PWR came out ahead of EXC most often, in 17 of the 27 years both traded.
- Ranked against its popular alternatives each year, EXC finished in the top quarter in 12 of 29 years and in the bottom quarter in 11. In 2025, it ranked 7 of 26.
Newest year first. Green marks a year in which the fund came out ahead of EXC; gray means the two finished within a fraction of a point. The rank row places EXC among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of EXC | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EXC This pageExelon Corporation | — | +20.0% | +9.2% | −14.0% | +8.3% | +41.4% | −3.8% | +4.3% | +18.4% | +14.1% | +32.8% | −22.2% | +40.6% | −3.5% | −27.4% | +9.5% | −10.5% | −8.4% | −29.9% | +35.1% | +19.8% | +24.5% | +37.5% | +30.1% | +14.1% | −29.5% | +106% | −14.8% | +78.5% | +4.0% |
| Rank among alternatives | Top quarter in 12 of 29 | 7 of 26 | 24 of 26 | 23 of 26 | 6 of 25 | 4 of 25 | 14 of 25 | 24 of 25 | 3 of 25 | 16 of 25 | 4 of 24 | 23 of 24 | 3 of 24 | 23 of 24 | 24 of 24 | 20 of 24 | 22 of 24 | 23 of 24 | 15 of 24 | 3 of 24 | 13 of 24 | 6 of 24 | 2 of 24 | 12 of 24 | 6 of 24 | 23 of 24 | 1 of 24 | 10 of 24 | 1 of 23 | 22 of 23 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 13 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% |
| AEE Ameren Corporation | 11 of 29 | +15.3% | +27.5% | −16.1% | +2.5% | +17.1% | +4.3% | +20.8% | +14.0% | +15.9% | +25.7% | −2.4% | +32.8% | +23.4% | −2.5% | +23.9% | +6.9% | −10.4% | −34.5% | +5.9% | +10.1% | +7.1% | +15.1% | +17.5% | +4.3% | −3.0% | +51.7% | −17.9% | +5.3% | +12.4% |
| AEP American Electric Power Company, Inc. | 15 of 29 | +29.4% | +18.2% | −11.0% | +10.4% | +10.7% | −9.0% | +30.5% | +5.4% | +19.9% | +11.9% | −0.4% | +35.1% | +14.2% | +8.2% | +20.7% | +8.6% | +10.4% | −25.5% | +13.0% | +19.7% | +12.3% | +17.5% | +19.2% | −32.8% | −1.3% | +54.8% | −27.3% | −4.1% | +32.6% |
| SO The Southern Company | 14 of 29 | +9.5% | +21.7% | +2.2% | +8.2% | +16.4% | +0.6% | +51.6% | −3.8% | +2.4% | +9.9% | −0.1% | +25.3% | +0.5% | −3.5% | +26.9% | +20.7% | −4.9% | +0.1% | +9.8% | +11.7% | +7.6% | +16.1% | +11.7% | +17.6% | +32.5% | +48.5% | −14.9% | +18.0% | +21.3% |
| PWR Quanta Services, Inc. | 17 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% | — | — |
| ETN Eaton Corporation plc | 16 of 29 | −2.8% | +39.5% | +56.2% | −7.2% | +46.7% | +31.0% | +42.8% | −10.0% | +21.5% | +33.8% | −20.7% | −8.2% | +44.2% | +28.6% | −11.8% | +64.0% | +33.3% | −47.1% | +31.6% | +14.4% | −5.4% | +36.5% | +41.1% | +7.6% | +40.8% | +6.0% | +5.3% | −19.0% | +30.7% |
| ETR Entergy Corporation | 17 of 29 | +25.4% | +55.9% | −6.1% | +3.5% | +17.1% | −13.7% | +44.3% | +10.6% | +15.9% | +12.6% | −18.2% | +44.8% | +4.3% | −8.3% | +8.4% | −9.7% | +2.4% | −28.3% | +32.5% | +38.4% | +4.6% | +22.0% | +29.3% | +20.3% | −4.6% | +71.4% | −14.0% | +9.7% | +16.7% |
| DUK Duke Energy Corporation | 14 of 29 | +12.7% | +15.6% | −1.6% | +2.0% | +19.1% | +4.8% | +10.3% | +7.4% | +12.9% | +13.4% | −10.8% | +26.3% | +13.0% | +1.3% | +30.1% | +9.5% | +21.9% | −21.6% | +8.9% | +26.2% | +15.6% | +30.2% | +11.8% | −48.2% | −5.3% | +76.0% | −18.6% | +20.2% | +25.3% |
| ED Consolidated Edison, Inc. | 13 of 29 | +15.1% | +1.6% | −1.1% | +15.7% | +22.9% | −17.0% | +22.6% | −6.6% | +17.2% | +18.9% | +1.4% | +24.9% | +3.8% | −6.7% | +30.9% | +14.9% | +23.8% | −15.7% | +6.6% | +9.2% | +11.3% | +7.3% | +6.3% | +11.8% | +10.9% | +19.0% | −31.4% | +35.0% | +50.5% |
| EVRG Evergy, Inc. | 16 of 29 | +22.4% | +23.4% | −13.3% | −4.9% | +28.0% | −11.7% | +18.4% | +10.9% | −3.5% | +36.8% | +6.9% | +33.2% | +17.5% | +4.2% | +20.3% | +22.2% | +13.0% | −16.5% | +4.1% | +26.1% | −2.0% | +17.3% | +115% | −37.2% | −26.4% | +58.7% | −44.3% | −18.3% | +48.3% |
| PNW Pinnacle West Capital Corporation | 14 of 29 | +8.9% | +23.5% | −1.2% | +13.0% | −7.8% | −7.7% | +9.1% | +3.6% | +11.7% | +25.4% | −2.0% | +34.6% | +7.9% | +10.3% | +21.9% | +19.6% | +21.8% | −19.4% | −12.3% | +28.4% | −2.7% | +16.1% | +23.4% | −14.6% | −9.1% | +62.2% | −25.4% | +2.9% | +38.3% |
| LNT Alliant Energy Corporation | 17 of 29 | +13.5% | +19.5% | −3.8% | −7.4% | +22.8% | −3.2% | +33.5% | +2.4% | +16.0% | +25.4% | −2.6% | +33.3% | +22.0% | +2.6% | +25.3% | +27.2% | +9.7% | −25.2% | +11.3% | +39.4% | +1.7% | +19.4% | +58.4% | −40.1% | +1.9% | +24.2% | −8.7% | +3.7% | +26.7% |
| NI NiSource Inc | 13 of 29 | +16.8% | +43.5% | +0.4% | +2.7% | +24.8% | −14.8% | +13.0% | +1.9% | +19.3% | +16.7% | +20.4% | +32.7% | +36.5% | +7.4% | +41.8% | +21.1% | +51.7% | −38.7% | −18.4% | +20.6% | −4.5% | +8.8% | +16.3% | −7.9% | −21.5% | +81.9% | −38.8% | +28.0% | +30.5% |
| FE FirstEnergy Corp. | 12 of 29 | +17.3% | +13.3% | −8.9% | +4.8% | +41.7% | −34.2% | +34.1% | +27.9% | +3.6% | +1.9% | −15.2% | +23.6% | −16.6% | −1.1% | +26.1% | −15.6% | +0.5% | −30.6% | +23.7% | +27.3% | +28.7% | +16.5% | +11.7% | −1.5% | +16.1% | +47.9% | −26.6% | +18.1% | +27.5% |
| VST Vistra Corp. | 4 of 9 | +17.7% | +262% | +70.7% | +5.1% | +19.5% | −11.9% | +2.5% | +24.9% | +18.2% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| HUBB Hubbell Incorporated | 15 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% |
| WEC WEC Energy Group, Inc. | 17 of 29 | +16.0% | +16.1% | −7.0% | −0.5% | +8.6% | +2.5% | +37.0% | +7.9% | +17.1% | +18.2% | +0.8% | +32.0% | +16.1% | +8.9% | +22.9% | +21.7% | +22.5% | −11.8% | +5.0% | +24.2% | +18.7% | +3.4% | +36.8% | +15.6% | +3.7% | +25.4% | −34.8% | +15.4% | +13.5% |
| XEL Xcel Energy Inc. | 16 of 29 | +13.9% | +12.3% | −8.7% | +6.4% | +4.4% | +7.8% | +32.4% | +5.9% | +20.9% | +17.1% | +3.8% | +33.4% | +8.8% | +0.5% | +22.3% | +16.1% | +20.3% | −13.8% | +2.0% | +30.6% | +6.1% | +12.4% | +61.7% | −57.1% | +0.8% | +58.8% | −24.9% | +0.2% | +33.9% |
| PPL PPL Corporation | 13 of 29 | +11.4% | +24.0% | −3.8% | +0.4% | +12.8% | −16.9% | +33.4% | −3.0% | −5.2% | +4.1% | +6.2% | +26.1% | +10.3% | +2.4% | +17.6% | −14.1% | +10.2% | −39.0% | +49.3% | +26.2% | +14.8% | +26.1% | +31.3% | +3.9% | −21.0% | +105% | −14.6% | +31.1% | +12.4% |
| D Dominion Energy, Inc. | 12 of 29 | +14.0% | +20.4% | −19.2% | −19.1% | +8.1% | −5.3% | +21.5% | −7.6% | +9.9% | +17.7% | −8.7% | +23.0% | +29.8% | +1.6% | +29.4% | +14.8% | +14.4% | −21.6% | +16.5% | +12.6% | +18.2% | +10.5% | +21.3% | −4.5% | −6.5% | +80.2% | −11.0% | +16.7% | +18.5% |
| DTE DTE Energy Company | 15 of 29 | +10.4% | +13.5% | −2.8% | +1.2% | +19.4% | −2.9% | +21.4% | +4.2% | +14.6% | +27.0% | −3.7% | +34.8% | +15.0% | +14.9% | +25.9% | +9.0% | +30.4% | −14.4% | −5.1% | +17.7% | +4.8% | +15.0% | −10.4% | +16.1% | +13.0% | +30.8% | −22.5% | +30.4% | +14.7% |
| CMS CMS Energy Corporation | 14 of 29 | +8.1% | +18.6% | −5.2% | +0.2% | +9.7% | −0.3% | +30.0% | +8.2% | +17.1% | +18.9% | +7.3% | +34.6% | +13.9% | +15.0% | +23.9% | +23.7% | +61.1% | −40.2% | +5.4% | +15.0% | +39.0% | +22.7% | −9.7% | −57.7% | −19.9% | +8.3% | −32.7% | +13.2% | +35.4% |
| ES Eversource Energy | 15 of 29 | +22.9% | −2.5% | −23.4% | −5.1% | +8.2% | +4.5% | +34.5% | +6.4% | +18.0% | +11.8% | −1.3% | +30.6% | +12.5% | +12.3% | +16.8% | +28.2% | +11.8% | −20.6% | +14.2% | +47.9% | +8.1% | −3.4% | +37.6% | −11.3% | −25.5% | +20.2% | +29.2% | +35.4% | −8.2% |
| CEG Constellation Energy Corporation | 3 of 3 | +58.8% | +92.7% | +37.3% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| PEG Public Service Enterprise Group Incorporated | 16 of 29 | −1.9% | +42.6% | +3.6% | −5.1% | +18.3% | +2.4% | +17.1% | +4.7% | +21.8% | +17.8% | −2.8% | +34.4% | +9.4% | −2.9% | +8.3% | −0.1% | +19.2% | −38.6% | +52.1% | +5.6% | +30.3% | +24.3% | +44.0% | −19.3% | −9.0% | +48.5% | −7.9% | +33.5% | +27.1% |
| EIX Edison International | 16 of 29 | −20.4% | +15.3% | +17.4% | −2.6% | +13.6% | −12.8% | +37.6% | −6.7% | −9.5% | +24.9% | −6.9% | +45.1% | +5.5% | +12.4% | +10.9% | +15.1% | +12.5% | −38.0% | +19.9% | +7.0% | +39.6% | +52.2% | +85.1% | −21.6% | −3.3% | −37.0% | −2.8% | +6.4% | +42.3% |
Risk and diversification
How EXC 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 EXC's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents EXC's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
- In all four of EXC's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: EXC fell 62.2% from July 2008 to January 2014, while the S&P 500 rose 64.4%.
- The slowest recovery came after EXC fell 62.2% from July 2008 to January 2014; it did not regain that peak until November 2021, eight years later.
Green means EXC fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | EXC fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2008 financial crisis | −62.2% | +64.4% | Jul 2008 | Jan 2014 | 5.5 years | Nov 2021 | 7.8 years |
| Dot-com bust | −40.6% | −12.6% | May 2001 | Oct 2001 | 5 months | Oct 2003 | 2 years |
| No named crash | −35.9% | +8.1% | May 1999 | Nov 1999 | 6 months | Aug 2000 | 9 months |
| No named crash | −35.5% | +18.3% | Feb 1996 | Apr 1997 | 14 months | May 1998 | 13 months |
| No named crash | −34.8% | — | Dec 1989 | Aug 1990 | 8 months | Aug 1991 | 12 months |
How did EXC do in stock market crashes?
This section measures how far EXC, 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.
- EXC fell less than the S&P 500 in seven of the ten crashes it has traded through. The clearest case was the late-2018 sell-off, when EXC fell 6.9% and the S&P 500 fell 19.3%.
- Among its popular alternatives, SO held up best, falling less than EXC in nine of the ten crashes they both traded through.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than EXC.
| Investment | Held up better | 2023 regional bank crisisMar 2023 | 2022 bear marketJan 2022 | Covid crashFeb 2020 | Late-2018 sell-offSep 2018 | February 2018 volatility shockFeb 2018 | 2015 China and oil sell-offAug 2015 | 2011 euro debt crisisJul 2011 | 2010 flash crashMay 2010 | 2008 financial crisisOct 2007 | Dot-com bustMar 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EXC This pageExelon Corporation | — | −2.6% | −27.4% | −39.8% | −6.9% | −4.6% | −24.7% | −10.5% | −0.8% | −50.9% | −40.6% |
| SPY S&P 500State Street SPDR S&P 500 ETF | 3 of 10 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| AEE Ameren Corporation | 4 of 10 | −2.5% | −22.9% | −29.1% | −10.2% | −4.2% | −11.5% | −13.2% | −1.9% | −60.6% | −17.8% |
| AEP American Electric Power Company, Inc. | 6 of 10 | −2.0% | −22.3% | −32.4% | −8.5% | −5.5% | −10.6% | −9.3% | −0.8% | −48.0% | −62.8% |
| SO The Southern Company | 9 of 10 | −1.2% | −23.3% | −38.1% | −9.6% | −1.9% | −9.4% | −5.2% | 0.0% | −30.4% | −19.0% |
| PWR Quanta Services, Inc. | 1 of 10 | −4.0% | −21.7% | −40.8% | −22.1% | −7.1% | −35.4% | −21.6% | −1.7% | −69.6% | −97.1% |
| ETN Eaton Corporation plc | 3 of 10 | −4.5% | −26.3% | −44.5% | −26.0% | −6.7% | −22.3% | −34.6% | −1.4% | −68.5% | −31.6% |
| ETR Entergy Corporation | 5 of 10 | −3.0% | −21.9% | −41.3% | −8.0% | −4.1% | −13.2% | −13.4% | −1.1% | −49.4% | −28.4% |
| DUK Duke Energy Corporation | 8 of 10 | −1.9% | −24.1% | −37.4% | −7.7% | −2.9% | −13.7% | −8.8% | 0.0% | −38.9% | −63.5% |
| ED Consolidated Edison, Inc. | 8 of 10 | −1.2% | −22.0% | −30.9% | −10.3% | −4.1% | −9.8% | −5.9% | 0.0% | −30.1% | −25.5% |
| EVRG Evergy, Inc. | 5 of 10 | −2.1% | −22.8% | −38.8% | −8.0% | −2.6% | −11.2% | −14.6% | −1.2% | −39.8% | −59.5% |
| PNW Pinnacle West Capital Corporation | 4 of 10 | −4.0% | −24.0% | −39.3% | −8.4% | −4.3% | −11.2% | −13.4% | −2.2% | −43.8% | −53.3% |
| LNT Alliant Energy Corporation | 4 of 10 | −2.7% | −25.2% | −32.9% | −11.0% | −4.5% | −13.3% | −15.5% | −1.3% | −49.5% | −45.0% |
| NI NiSource Inc | 3 of 10 | −3.5% | −24.3% | −30.6% | −9.9% | −5.3% | −10.1% | −12.3% | −1.4% | −58.6% | −51.0% |
| FE FirstEnergy Corp. | 6 of 10 | −4.1% | −25.2% | −36.4% | −9.5% | −3.5% | −15.6% | −12.5% | 0.0% | −54.2% | −34.4% |
| VST Vistra Corp. | 1 of 5 | −7.1% | −22.1% | −45.7% | −17.3% | −8.8% | — | — | — | — | — |
| HUBB Hubbell Incorporated | 4 of 10 | −5.6% | −17.3% | −40.6% | −31.6% | −3.7% | −20.9% | −26.6% | −1.0% | −59.7% | −27.4% |
| WEC WEC Energy Group, Inc. | 7 of 10 | −1.9% | −23.6% | −32.3% | −9.8% | −4.0% | −9.6% | −12.0% | −0.6% | −24.4% | −21.3% |
| XEL Xcel Energy Inc. | 5 of 10 | −1.8% | −24.7% | −28.9% | −9.4% | −4.6% | −10.4% | −11.0% | −1.1% | −27.2% | −80.6% |
| PPL PPL Corporation | 4 of 10 | −1.9% | −21.8% | −47.1% | −13.1% | −5.3% | −11.7% | −11.5% | 0.0% | −53.5% | −55.4% |
| D Dominion Energy, Inc. | 6 of 10 | −3.2% | −28.0% | −33.3% | −7.5% | −3.1% | −13.3% | −7.7% | 0.0% | −41.4% | −44.4% |
| DTE DTE Energy Company | 3 of 10 | −2.7% | −24.9% | −42.4% | −8.4% | −4.6% | −11.1% | −14.1% | −1.9% | −50.6% | −27.7% |
| CMS CMS Energy Corporation | 5 of 10 | −2.8% | −26.5% | −29.3% | −9.8% | −3.9% | −10.4% | −13.5% | −1.3% | −49.4% | −79.9% |
| ES Eversource Energy | 4 of 10 | −2.7% | −23.1% | −36.8% | −9.1% | −5.4% | −11.5% | −13.8% | −1.8% | −40.3% | −43.1% |
| CEG Constellation Energy Corporation | 1 of 1 | −2.0% | — | — | — | — | — | — | — | — | — |
| PEG Public Service Enterprise Group Incorporated | 2 of 10 | −3.6% | −27.3% | −38.0% | −10.8% | −6.6% | −14.8% | −13.4% | −1.0% | −51.0% | −48.3% |
| EIX Edison International | 3 of 10 | −3.0% | −22.0% | −42.7% | −33.1% | −5.7% | −11.3% | −15.2% | 0.0% | −57.7% | −69.5% |
How closely does EXC 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 EXC with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- Over the past 10 years, EXC captured 40% of the S&P 500's gains in rising months and 21% of its losses in falling months, with a beta of 0.37. That is a defensive profile: it gave up some of the market's upside in exchange for smaller losses.
- Four of the 23 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than EXC's 1.91, led by ETR, PWR and SO.
Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than EXC's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| EXC This pageExelon Corporation | 40% | 21% | 1.91 | 0.37 |
| ETR Entergy Corporation | 58% | 24% | 2.39 | 0.53 |
| PWR Quanta Services, Inc. | 141% | 61% | 2.31 | 1.22 |
| SO The Southern Company | 41% | 20% | 1.98 | 0.39 |
| AEP American Electric Power Company, Inc. | 44% | 23% | 1.93 | 0.40 |
| DUK Duke Energy Corporation | 35% | 19% | 1.88 | 0.33 |
| ED Consolidated Edison, Inc. | 31% | 18% | 1.75 | 0.22 |
| WEC WEC Energy Group, Inc. | 41% | 23% | 1.73 | 0.34 |
| XEL Xcel Energy Inc. | 41% | 24% | 1.68 | 0.35 |
| CMS CMS Energy Corporation | 35% | 23% | 1.56 | 0.28 |
| AEE Ameren Corporation | 51% | 33% | 1.52 | 0.38 |
| ETN Eaton Corporation plc | 114% | 80% | 1.43 | 1.16 |
| NI NiSource Inc | 43% | 32% | 1.34 | 0.44 |
| PNW Pinnacle West Capital Corporation | 34% | 27% | 1.23 | 0.38 |
| FE FirstEnergy Corp. | 40% | 33% | 1.22 | 0.36 |
| LNT Alliant Energy Corporation | 50% | 45% | 1.13 | 0.46 |
| EVRG Evergy, Inc. | 42% | 38% | 1.11 | 0.47 |
| DTE DTE Energy Company | 47% | 42% | 1.11 | 0.50 |
| PEG Public Service Enterprise Group Incorporated | 52% | 47% | 1.09 | 0.53 |
| HUBB Hubbell Incorporated | 108% | 101% | 1.07 | 1.03 |
| ES Eversource Energy | 49% | 61% | 0.79 | 0.52 |
| PPL PPL Corporation | 52% | 77% | 0.67 | 0.65 |
| D Dominion Energy, Inc. | 43% | 70% | 0.61 | 0.52 |
| EIX Edison International | 30% | 52% | 0.58 | 0.61 |
What diversifies EXC?
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 EXC's. Because such investments tend not to fall at the same time, pairing EXC with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in EXC into DXJ would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+7.0% for EXC alone, +11.1% for the mix).
- FIX made money in eight of the ten calendar years in which EXC lost money.
- Among large ETFs, DXJ, MLPX and SMH have moved largely independently of EXC over the past 5 years, with correlations of 0.49 or lower, and each still earned a positive 5-year return.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which EXC lost money. The last two columns show a portfolio that is 80% EXC and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2023 | 2020 | 2015 | 2013 | 2012 | 2010 | 2009 | 2008 | 2001 | 1999 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EXC Exelon Corporation (this page) | 1.00 | +40.7% | 0.43 | −14.0% | −3.8% | −22.2% | −3.5% | −27.4% | −10.5% | −8.4% | −29.9% | −29.5% | −14.8% | 18.9% | +7.0% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.16 | +225% | 1.34 | +42.0% | +3.9% | +7.7% | +41.3% | +19.6% | −1.8% | +2.0% | −20.8% | — | — | 15.7% | +11.1% |
| MLPX EnergyGlobal X - MLP & Energy Infrastructure ETF | 0.49 | +135% | 0.97 | +15.8% | −20.3% | −35.3% | — | — | — | — | — | — | — | 17.3% | +9.8% |
| SMH TechnologyVanEck Semiconductor ETF | 0.03 | +323% | 0.97 | +73.4% | +55.5% | −0.3% | +33.4% | +8.6% | +19.0% | +60.5% | −44.7% | −14.6% | — | 16.8% | +13.8% |
| DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF | 0.38 | +85.0% | 0.96 | +20.1% | +2.1% | +4.1% | +26.4% | +20.9% | — | — | — | — | — | 16.1% | +8.6% |
| GLD CommoditiesSPDR Gold Shares | 0.38 | +126% | 0.96 | +12.7% | +24.8% | −10.7% | −28.3% | +6.6% | +29.3% | +24.0% | +4.9% | — | — | 16.7% | +9.5% |
| SPMO Broad MarketInvesco S&P 500 Momentum ETF | 0.11 | +136% | 0.93 | +17.6% | +28.2% | — | — | — | — | — | — | — | — | 16.1% | +10.3% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.42 | +177% | 0.93 | −0.6% | −32.7% | −21.5% | +26.3% | +5.2% | +21.9% | +21.8% | −39.0% | −18.2% | +18.1% | 17.9% | +10.5% |
| DFIV InternationalDimensional - International Value ETF | 0.47 | +99.4% | 0.93 | +17.7% | — | — | — | — | — | — | — | — | — | 16.8% | +8.9% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2023 | 2020 | 2015 | 2013 | 2012 | 2010 | 2009 | 2008 | 2001 | 1999 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EXC Exelon Corporation (this page) | 1.00 | +40.7% | 0.43 | −14.0% | −3.8% | −22.2% | −3.5% | −27.4% | −10.5% | −8.4% | −29.9% | −29.5% | −14.8% | 18.9% | +7.0% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.31 | +479% | 1.55 | +34.1% | +10.1% | +12.6% | +66.0% | +3.8% | +21.4% | −4.4% | −39.6% | −2.5% | −36.8% | 17.5% | +13.2% |
| CLS Hardware, Equipment & PartsCelestica Inc. | -0.03 | +3,143% | 1.47 | +160% | −2.4% | −6.0% | +27.6% | +11.2% | +2.8% | +105% | −20.5% | −25.6% | +350% | 18.9% | +26.0% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.22 | +1,636% | 1.46 | +79.6% | +6.7% | +67.7% | +61.7% | +15.7% | +8.7% | +17.8% | −15.2% | +73.7% | −58.7% | 19.2% | +21.7% |
| MCK Medical - DistributionMcKesson Corporation | 0.36 | +413% | 1.44 | +24.1% | +27.1% | −4.5% | +67.7% | +25.6% | +13.8% | +62.9% | −40.4% | +4.9% | −71.3% | 17.6% | +12.6% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.26 | +690% | 1.41 | +30.4% | −27.4% | +17.4% | +48.6% | +94.3% | — | — | — | — | — | 17.9% | +15.2% |
Common questions
What was EXC's worst drawdown?
EXC's deepest decline since it began trading in 1986 was 62.2%, from July 2008 to January 2014. It took about eight years from the low to climb back to its old high.
What were EXC's best and worst years?
Over 29 full calendar years, EXC's best year was 2000, when it returned 106%. Its worst was 2008, with a return of -29.9%.
Is there a better investment than EXC?
Among EXC's popular alternatives, ED, SO and FE earned more than EXC with less volatility over the past 5 years. ED returned 12.0% a year at 18.8% volatility, against 7.1% a year at 20.9%. Looking beyond its popular alternatives, FTS (electric utilities) and IDA (electric utilities) earned more than EXC with less volatility over the past 5 years. FTS returned 8.4% a year at 16.4% volatility, against 7.1% a year at 20.9%.
Is EXC more volatile than the S&P 500?
Yes. EXC's volatility over the past 5 years was 20.9%, 1.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, EXC's return lands within 20.9% 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 EXC's Sharpe ratio?
EXC's Sharpe ratio over the past 5 years was 0.43, against 0.79 for the S&P 500, so EXC 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 EXC with the S&P 500?
Over the past 5 years, EXC's monthly returns had a correlation of 0.25 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against EXC instead: the lower it is, the more that option would diversify a EXC holding.
What are the best alternatives to EXC?
Of the 25 popular alternatives we compared, 13 outperformed EXC in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: AEE, AEP and SO.
Did EXC outperform the S&P 500?
EXC finished ahead of the S&P 500 (SPY) in 16 of 29 full calendar years. In 2025, it returned +20.0%, against +17.7% for the index.
How did EXC do in stock market crashes?
EXC fell less than the S&P 500 (SPY) in seven of the ten major crashes it has traded through, and further in three. The clearest case was the late-2018 sell-off, when EXC fell 6.9% and the S&P 500 fell 19.3%.
What diversifies EXC?
These had a low correlation with EXC over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.16), MLPX (correlation 0.49) and SMH (correlation 0.03); among large stocks, CAH (correlation 0.31), CLS (correlation -0.03) and FIX (correlation 0.22). A correlation near zero means the two have moved largely independently.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y; long-term periods are 3Y, 5Y, 10Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than EXC's. Returns within 0.5 points or 3% of EXC's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
More research
Popular alternatives to EXC
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XELXcel Energy
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