Relative Intelligence · Engineering & Construction
How Comfort Systems USA (FIX) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on FIX alone. It places FIX (Comfort Systems USA, Inc.) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where FIX stands in the market, and of the alternatives worth a closer look.
Period covered: FIX's full trading record, from June 1997 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 page10 sections
Key findings
- Right nowFIX has gone against the market, falling 16.8% over the past 6 months while the S&P 500 rose 9.1%. The slide is FIX's own: it is 32.4% below its high, against 1.3% for the S&P 500. At a glance ↓
- Stock or market?The weakness is FIX's own: it fell 18.4% over the past 3 months while the engineering & construction ETF PAVE (Global X - U.S. Infrastructure Development ETF) fell 5.5%. The S&P 500 rose 3.9%. Its engineering & construction peers did not move as one over the past 3 months: APG (APi Group) rose 1.5%, while MTZ (MasTec) fell 44.3%.
- Past 1 to 3 yearsOver the past year, FIX rose 67.3% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (819% against 89.3%). The last two calendar years both went the same way: FIX rose 121% in 2025, against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. By year ↓
- Long termFIX turned $10,000 into $540,000 over the past decade, against $42,100 in the S&P 500. FIX's 10-year return of 5,305% puts it among the best of the stocks worth at least $300 million with that much history. The S&P 500 returned 321%. Growth of $10,000 ↓
- In a crashAcross seven sell-offs, FIX has typically fallen 1.5 times as far as the S&P 500. That said, in the 2022 bear market, FIX held up better than EME (EMCOR Group), APG and J; only PWR (Quanta Services) and ACM fell less. Crash tests ↓
- DiversificationAgainst the S&P 500, FIX has a correlation of 0.58 over 5 years, more closely than 86% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Over 10 years, FIX's beta versus the S&P 500 was 1.38: in the S&P 500's rising months it gained 1.8 times as much as the index, and in falling months it lost 71% as much. Market capture ↓
- Better optionsNothing in the whole market did better on both counts: none of the 3,633 stocks and funds worth at least $500 million earned more than FIX with less volatility over the past 5 years. Across the whole market, FIX outpaced 99% of stocks worth at least $300 million over the past decade.
How much would $10,000 in FIX have grown?
This chart tracks a hypothetical $10,000 investment in FIX over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of FIX over the same span and FIX'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 FIX at the end of September 1997 would have grown to $1,078,207 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 FIX, and AAPL finished highest, at $20,534,853.
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. 30 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of FIX; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- AAPL$21M+205,249% total · +30.1% a year
- AMZN$11M+114,749% total · +27.5% a year
- STRL$8M+78,764% total · +25.9% a year
- LRCX$2M+24,786% total · +21.0% a year
- EME$2M+16,257% total · +19.2% a year
- FIX$1M+10,682% total · +17.5% a year
- JCI$864,263+8,543% total · +16.6% a year
- ETN$538,468+5,285% total · +14.7% a year
- TT$405,736+3,957% total · +13.6% a year
- SPY (S&P 500)$132,907+1,229% total · +9.3% a year
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. 2 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of FIX. The other 6 lines are popular alternatives, shown for context.
- CLS$407,013+3,970% total · +110% a year
- POWL$273,283+2,633% total · +93.8% a year
- FIX$236,701+2,267% total · +88.3% a year
- STRL$216,918+2,069% total · +85.0% a year
- EME$66,450+565% total · +46.0% a year
- PWR$56,870+469% total · +41.6% a year
- ETN$31,102+211% total · +25.5% a year
- TT$27,878+179% total · +22.8% a year
- JCI$24,116+141% total · +19.3% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
FIX 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.
- FIX is still 32.4% below its all-time high.
- FIX's deepest decline since it began trading in 1997 was 93.3%, from July 1998 to April 2003. It took about 12 years from the low to climb back to its old high.
- Over 28 full calendar years, FIX's best was 2025, when it returned 121%, and its worst was 2000, when it lost 71.1%. It lost money in seven of those years.
The company
- Market value
- $49B
- Industry
- Engineering & Construction
- Price history from
- June 1997
Returns
- Past 1 year
- +67.3%total return
- Past 3 years
- +819%+109% a year
- Past 5 years
- +1,636%+77.0% a year
- Past 10 years
- +5,305%+49.0% a year
- Best calendar year
- +121%2025
- Worst calendar year
- −71.1%2000
- Losing years
- 7 of 28full calendar years
Risk
- Volatility
- 46.7%typical yearly swing, 5 years
- Sharpe ratio
- 1.46return per unit of risk, 5 years
- Worst decline ever
- −93.3%Jul 1998 to Apr 2003
- From its all-time high
- −32.4%below the peak
FIX against the whole market
Where FIX ranks among every stock and fund, and what across the market has done better.
How does FIX rank among all stocks?
This section ranks FIX 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 FIX stacks up against its peers, these rankings show where it stands in the market as a whole.
- On return for the risk taken (the Sharpe ratio), FIX ranks in the top 1% of the 2,893 stocks worth at least $300 million.
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 | FIX | Rank | Standing |
|---|---|---|---|
| 1-year return | +67.3% | 346 of 3,287 | top 11% |
| 3-year return | +819% | 41 of 3,017 | top 1% |
| 5-year return | +1,636% | 6 of 2,893 | top 1% |
| 10-year return | +5,305% | 5 of 2,202 | top 1% |
| Volatility, 5 years | 46.7% | 1,780 of 2,893 | bottom 39% |
| Sharpe ratio, 5 years | 1.46 | 3 of 2,893 | top 1% |
| Worst decline, past 10 years | −49.7% | 450 of 2,187 | top 21% |
FIX against its popular alternatives
The investments people most often weigh against FIX, compared period by period and year by year.
How do FIX'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 FIX, which divides the map into what did better or worse on each measure.
- None of the 24 popular alternatives earned more than FIX over the past 5 years with smaller price swings, so every higher return on the map came with a bumpier ride.
- Over the past 5 years, FIX returned 77.0% a year, more than the S&P 500's 12.7%, with higher volatility (46.7% against 17.1%).
Green points earned more than FIX 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 |
|---|---|---|
| STRL Sterling Infrastructure, Inc. | +78.4% | 60.0% |
| FIX This pageComfort Systems USA, Inc. | +77.0% | 46.7% |
| IESC IES Holdings, Inc. | +58.5% | 58.0% |
| VRT Vertiv Holdings Co | +54.2% | 64.2% |
| LMB Limbach Holdings, Inc. | +46.4% | 64.6% |
| EME EMCOR Group, Inc. | +43.0% | 35.3% |
| PWR Quanta Services, Inc. | +39.3% | 37.2% |
| DY Dycom Industries, Inc. | +27.0% | 44.5% |
| GVA Granite Construction Incorporated | +23.8% | 30.6% |
| APG APi Group Corporation | +23.0% | 31.9% |
| TT Trane Technologies plc | +22.7% | 27.7% |
| PRIM Primoris Services Corporation | +22.4% | 50.3% |
| MYRG MYR Group Inc. | +21.6% | 42.9% |
| ETN Eaton Corporation plc | +20.4% | 32.1% |
| FLR Fluor Corporation | +19.8% | 45.6% |
| ROAD Construction Partners, Inc. | +19.6% | 47.2% |
| JCI Johnson Controls International plc | +17.4% | 29.1% |
| MTZ MasTec, Inc. | +16.5% | 45.5% |
| ORN Orion Group Holdings, Inc. | +13.3% | 63.6% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| J Jacobs Solutions Inc. | +5.3% | 26.2% |
| CARR Carrier Global Corporation | +2.2% | 32.3% |
| TTEK Tetra Tech, Inc. | +2.2% | 32.3% |
| MTRX Matrix Service Company | −0.9% | 54.0% |
| ACM Aecom | −1.0% | 27.7% |
| KBR KBR, Inc. | −1.8% | 29.2% |
Has FIX consistently beaten its popular alternatives?
This section compares FIX 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 FIX helps separate lasting outperformance from a single strong stretch.
- None of the 24 popular alternatives outperformed FIX in at least 3 of 5 short-term and 2 of 3 long-term timeframes. The closest was STRL.
A green cell means the alternative earned more than FIX 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 | ||
| FIX Comfort Systems USA, Inc. (this page) | — | −14.4% | −18.4% | −16.8% | +39.4% | +67.3% | +819% | +1,636% | +5,305% | 46.7% | 1.46 | — | — | $49B | — |
| STRL Engineering & ConstructionSterling Infrastructure, Inc. | 1/5 short1/3 long | −19.6% | −36.6% | −12.8% | +29.2% | +11.7% | +489% | +1,708% | +5,213% | 60.0% | 1.26 | −59.6% | — | $13B | — |
| PWR Engineering & ConstructionQuanta Services, Inc. | 3/5 short0/3 long | −7.2% | −5.8% | −1.5% | +35.6% | +35.3% | +263% | +425% | +2,045% | 37.2% | 1.08 | −45.5% | — | $90B | — |
| EME Engineering & ConstructionEMCOR Group, Inc. | 3/5 short0/3 long | −7.2% | −5.5% | −15.4% | +10.2% | +0.5% | +267% | +499% | +1,202% | 35.3% | 1.20 | −48.0% | — | $31B | — |
| TT Industrial - MachineryTrane Technologies plc | 3/5 short0/3 long | +6.5% | −1.2% | −2.9% | +16.8% | +11.3% | +154% | +178% | +955% | 27.7% | 0.88 | −40.5% | — | $102B | — |
| ETN Electrical Equipment & PartsEaton Corporation plc | 3/5 short0/3 long | −12.3% | −4.6% | −5.8% | +17.7% | +2.3% | +104% | +153% | +657% | 32.1% | 0.74 | −44.5% | — | $148B | — |
| JCI Construction MaterialsJohnson Controls International plc | 3/5 short0/3 long | +1.9% | +6.4% | +5.5% | +22.0% | +35.4% | +220% | +123% | +426% | 29.1% | 0.70 | −46.4% | — | $90B | — |
| TTEK Engineering & ConstructionTetra Tech, Inc. | 3/5 short0/3 long | −2.8% | +12.0% | +10.7% | +4.6% | +5.6% | +13.7% | +11.6% | +388% | 32.3% | 0.23 | −47.5% | — | $9.0B | — |
| J Engineering & ConstructionJacobs Solutions Inc. | 3/5 short0/3 long | −2.8% | +8.1% | +9.0% | +4.0% | −13.2% | +31.1% | +29.6% | +266% | 26.2% | 0.33 | −39.3% | — | $16B | — |
| KBR Engineering & ConstructionKBR, Inc. | 3/5 short0/3 long | +3.1% | +7.0% | +2.0% | −7.8% | −13.9% | −35.0% | −8.9% | +189% | 29.2% | 0.08 | −58.0% | — | $4.6B | — |
| GVA Engineering & ConstructionGranite Construction Incorporated | 3/5 short0/3 long | −5.7% | −10.2% | −11.6% | −7.4% | +4.1% | +216% | +191% | +186% | 30.6% | 0.85 | −84.7% | — | $4.8B | — |
| CARR Industrial - MachineryCarrier Global Corporation | 3/5 short0/3 long | +2.8% | −15.8% | −8.2% | +6.2% | −1.1% | +21.2% | +11.6% | — | 32.3% | 0.23 | −40.8% | — | $46B | — |
| PRIM Engineering & ConstructionPrimoris Services Corporation | 2/5 short0/3 long | −6.1% | −16.6% | −56.1% | −44.6% | −48.0% | +142% | +174% | +297% | 50.3% | 0.68 | −65.7% | — | $3.9B | — |
| ACM Engineering & ConstructionAecom | 2/5 short0/3 long | −5.8% | −12.7% | −31.1% | −37.8% | −55.1% | −21.6% | −4.7% | +128% | 27.7% | 0.10 | −56.1% | — | $7.6B | — |
| FLR Engineering & ConstructionFluor Corporation | 2/5 short0/3 long | −17.5% | −8.7% | −6.1% | +8.3% | −5.6% | +30.2% | +147% | −0.9% | 45.6% | 0.63 | −94.2% | — | $6.0B | — |
| MTRX Engineering & ConstructionMatrix Service Company | 2/5 short0/3 long | +0.6% | −16.7% | −17.6% | −16.3% | −23.2% | −15.2% | −4.3% | −45.6% | 54.0% | 0.25 | −86.6% | — | $285M | — |
| APG Engineering & ConstructionAPi Group Corporation | 2/5 short0/3 long | +6.8% | +1.5% | −17.9% | +2.6% | +14.8% | +137% | +182% | — | 31.9% | 0.81 | −49.6% | — | $17B | — |
| ROAD Engineering & ConstructionConstruction Partners, Inc. | 2/5 short0/3 long | −10.7% | −17.6% | −33.8% | −24.8% | −28.3% | +121% | +145% | — | 47.2% | 0.61 | −54.5% | — | $4.8B | — |
| IESC Engineering & ConstructionIES Holdings, Inc. | 1/5 short0/3 long | −25.0% | −22.3% | −12.8% | +18.6% | +22.8% | +692% | +900% | +2,943% | 58.0% | 1.09 | −54.3% | — | $9.7B | — |
| MYRG Engineering & ConstructionMYR Group Inc. | 1/5 short0/3 long | −4.7% | −29.6% | −17.3% | +21.2% | +31.2% | +116% | +166% | +828% | 42.9% | 0.67 | −61.5% | — | $4.3B | — |
| LMB Construction MaterialsLimbach Holdings, Inc. | 1/5 short0/3 long | −8.9% | −35.6% | −51.9% | −39.9% | −49.3% | +62.3% | +572% | +243% | 64.6% | 0.92 | −84.1% | — | $567M | — |
| DY Engineering & ConstructionDycom Industries, Inc. | 1/5 short0/3 long | −13.6% | −38.6% | −38.6% | −27.5% | −15.0% | +198% | +230% | +197% | 44.5% | 0.76 | −89.0% | — | $7.6B | — |
| ORN Engineering & ConstructionOrion Group Holdings, Inc. | 1/5 short0/3 long | −5.2% | −31.4% | −28.2% | −12.9% | +1.5% | +63.2% | +86.3% | +7.8% | 63.6% | 0.52 | −85.4% | — | $352M | — |
| MTZ Engineering & ConstructionMasTec, Inc. | 0/5 short0/3 long | −16.0% | −44.3% | −49.6% | −17.7% | −8.7% | +206% | +114% | +542% | 45.5% | 0.57 | −67.9% | — | $15B | — |
| VRT Electrical Equipment & PartsVertiv Holdings Co | 0/5 short0/3 long | −18.9% | −30.2% | −35.2% | +16.0% | +16.0% | +456% | +772% | — | 64.2% | 1.01 | −71.3% | — | $78B | — |
How did FIX do year by year?
This table shows each investment's total return in every full calendar year since 1998, along with where FIX ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with FIX and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- FIX finished ahead of the S&P 500 in 17 of its 28 full calendar years, and ahead of it in each of the last five.
- None of the 24 popular alternatives came out ahead of FIX in most of the years they have in common.
- Ranked against its popular alternatives each year, FIX finished in the top quarter in 11 of 28 years and in the bottom quarter in two. In 2025, it ranked 1 of 25.
Newest year first. Green marks a year in which the fund came out ahead of FIX; gray means the two finished within a fraction of a point. The rank row places FIX among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of FIX | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FIX This pageComfort Systems USA, Inc. | — | +121% | +107% | +79.6% | +17.0% | +89.0% | +6.7% | +15.1% | +0.8% | +32.1% | +18.3% | +67.7% | −10.4% | +61.7% | +15.7% | −17.0% | +8.7% | +17.8% | −15.2% | +2.1% | +38.9% | +20.1% | +40.0% | +63.6% | −9.4% | +73.7% | −71.1% | −58.7% | −9.5% |
| Rank among alternatives | Top quarter in 11 of 28 | 1 of 25 | 5 of 25 | 7 of 25 | 4 of 25 | 1 of 25 | 16 of 23 | 18 of 23 | 4 of 21 | 3 of 21 | 16 of 21 | 2 of 21 | 14 of 20 | 4 of 20 | 14 of 20 | 13 of 20 | 12 of 20 | 10 of 20 | 7 of 19 | 13 of 17 | 6 of 15 | 8 of 15 | 2 of 15 | 9 of 15 | 7 of 15 | 2 of 15 | 14 of 14 | 14 of 14 | 9 of 12 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 10 of 28 | +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% |
| STRL Sterling Infrastructure, Inc. | 12 of 28 | +81.8% | +91.6% | +168% | +24.7% | +41.3% | +32.2% | +29.3% | −33.1% | +92.4% | +39.1% | −4.9% | −45.5% | +18.0% | −7.7% | −17.4% | −31.9% | +3.3% | −15.1% | +0.3% | +29.3% | +224% | +14.6% | +159% | +4.2% | +41.2% | −9.2% | −12.7% | +63.1% |
| PWR Quanta Services, Inc. | 12 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% | — |
| EME EMCOR Group, Inc. | 14 of 28 | +35.0% | +111% | +46.0% | +16.8% | +39.9% | +6.5% | +45.2% | −26.7% | +16.1% | +48.2% | +8.8% | +5.6% | +23.2% | +31.2% | −7.3% | +7.8% | +19.9% | −5.1% | −16.9% | +68.4% | +49.5% | +2.9% | −17.2% | +16.7% | +77.9% | +40.0% | +13.2% | −21.6% |
| TT Trane Technologies plc | 13 of 28 | +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% |
| ETN Eaton Corporation plc | 12 of 28 | −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% |
| JCI Johnson Controls International plc | 14 of 28 | +54.0% | +39.8% | −7.6% | −19.3% | +77.4% | +17.7% | +40.8% | −19.8% | −6.3% | +64.3% | −23.3% | +11.4% | +46.9% | +34.3% | +19.3% | +22.8% | +76.7% | −42.2% | +61.6% | +16.3% | −11.9% | +42.7% | +75.4% | −66.9% | +9.3% | +46.9% | +7.9% | +76.2% |
| TTEK Tetra Tech, Inc. | 13 of 28 | −15.2% | +20.0% | +15.7% | −14.0% | +47.4% | +35.4% | +67.8% | +8.3% | +12.5% | +67.6% | −1.4% | −3.9% | +5.8% | +22.4% | −13.9% | −7.7% | +12.6% | +12.3% | +18.5% | +15.8% | −6.6% | −32.6% | +104% | −38.8% | −22.0% | +108% | −29.0% | +68.8% |
| J Jacobs Solutions Inc. | 11 of 28 | +1.1% | +24.3% | +9.2% | −13.0% | +28.7% | +22.5% | +55.2% | −10.6% | +17.0% | +35.9% | −6.1% | −29.0% | +47.9% | +4.9% | −11.5% | +21.9% | −21.8% | −49.7% | +134% | +20.1% | +42.1% | −0.5% | +34.9% | +7.9% | +42.8% | +42.1% | −20.2% | +60.3% |
| KBR KBR, Inc. | 5 of 19 | −29.7% | +5.6% | +5.9% | +11.9% | +55.6% | +3.2% | +104% | −22.1% | +21.3% | +0.8% | +1.6% | −46.1% | +7.6% | +8.1% | −8.0% | +61.6% | +26.5% | −60.5% | +48.3% | — | — | — | — | — | — | — | — | — |
| GVA Granite Construction Incorporated | 10 of 28 | +32.2% | +73.8% | +46.8% | −7.8% | +46.8% | −0.7% | −30.3% | −35.8% | +16.4% | +29.6% | +14.5% | +10.3% | +5.8% | +44.3% | −11.7% | −16.9% | −22.2% | +23.2% | −27.5% | +41.3% | +36.7% | +15.3% | +54.8% | −34.6% | +26.6% | +59.9% | −44.1% | +122% |
| CARR Carrier Global Corporation | 0 of 5 | −21.8% | +20.3% | +41.5% | −22.7% | +45.3% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| PRIM Primoris Services Corporation | 8 of 19 | +63.1% | +131% | +52.6% | −7.5% | −12.4% | +25.8% | +17.7% | −29.0% | +20.5% | +4.5% | −4.3% | −24.9% | +108% | +1.6% | +58.1% | +21.4% | +56.7% | −30.8% | +3.8% | — | — | — | — | — | — | — | — | — |
| ACM Aecom | 5 of 18 | −9.9% | +16.7% | +9.8% | +10.7% | +55.4% | +15.4% | +62.7% | −28.6% | +2.2% | +21.1% | −1.1% | +3.2% | +23.7% | +15.7% | −26.5% | +1.7% | −10.5% | +7.6% | — | — | — | — | — | — | — | — | — | — |
| FLR Fluor Corporation | 5 of 25 | −19.7% | +25.9% | +13.0% | +39.9% | +55.1% | −14.5% | −39.5% | −36.6% | +0.1% | +13.1% | −20.8% | −23.6% | +38.0% | +18.3% | −23.6% | +48.7% | +1.6% | −37.9% | +79.8% | +6.7% | +43.2% | +39.5% | +44.2% | −23.6% | +14.8% | — | — | — |
| MTRX Matrix Service Company | 13 of 28 | −2.3% | +22.4% | +57.2% | −17.3% | −31.8% | −51.8% | +27.5% | +0.8% | −21.6% | +10.5% | −8.0% | −8.6% | +112% | +21.8% | −22.5% | +14.4% | +38.9% | −64.8% | +35.5% | +63.6% | +22.1% | −55.5% | +285% | +40.6% | +12.8% | +30.3% | −4.2% | −48.1% |
| APG APi Group Corporation | 1 of 5 | +59.6% | +4.0% | +84.0% | −27.0% | +42.0% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| ROAD Construction Partners, Inc. | 2 of 7 | +22.7% | +103% | +63.1% | −9.3% | +1.0% | +72.6% | +91.0% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| IESC IES Holdings, Inc. | 12 of 27 | +93.6% | +154% | +123% | −29.7% | +10.0% | +79.4% | +64.9% | −9.8% | −9.8% | +72.7% | +44.6% | +41.9% | +20.0% | +143% | −47.4% | −39.9% | −33.1% | −53.4% | +5.6% | +89.4% | −88.6% | −47.7% | +140% | −24.8% | −13.8% | −41.0% | −54.8% | — |
| MYRG MYR Group Inc. | 8 of 17 | +46.9% | +2.9% | +57.1% | −16.7% | +83.9% | +84.4% | +15.7% | −21.2% | −5.2% | +82.8% | −24.8% | +9.3% | +12.7% | +16.3% | −8.9% | +16.2% | +80.7% | — | — | — | — | — | — | — | — | — | — | — |
| LMB Limbach Holdings, Inc. | 3 of 11 | −9.0% | +88.1% | +337% | +15.7% | −27.0% | +226% | +2.7% | −73.4% | −1.9% | +43.1% | +2.7% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| DY Dycom Industries, Inc. | 11 of 28 | +94.1% | +51.2% | +23.0% | −0.2% | +24.1% | +60.2% | −12.8% | −51.5% | +38.8% | +14.8% | +99.4% | +26.3% | +40.4% | −5.3% | +41.8% | +83.7% | −2.3% | −69.2% | +26.2% | −4.0% | −27.9% | +13.8% | +102% | −20.7% | −53.5% | +22.3% | +15.7% | +165% |
| ORN Orion Group Holdings, Inc. | 6 of 18 | +35.6% | +48.4% | +108% | −36.9% | −24.0% | −4.4% | +21.0% | −45.2% | −21.3% | +139% | −62.3% | −8.2% | +64.6% | +9.9% | −42.7% | −44.9% | +118% | −35.6% | — | — | — | — | — | — | — | — | — | — |
| MTZ MasTec, Inc. | 10 of 28 | +59.7% | +79.8% | −11.3% | −7.5% | +35.4% | +6.3% | +58.2% | −17.1% | +28.0% | +120% | −23.1% | −30.9% | +31.3% | +43.5% | +19.1% | +16.7% | +7.9% | +13.9% | −11.9% | +10.2% | +3.6% | −31.7% | +402% | −57.6% | −65.3% | −32.6% | +112% | −8.2% |
| VRT Vertiv Holdings Co | 3 of 7 | +42.8% | +137% | +252% | −45.3% | +33.8% | +69.4% | +12.5% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Risk and diversification
How FIX 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 FIX's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents FIX's five deepest drawdowns since it began trading in 1997, 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 five of FIX's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: FIX fell 49.7% from November 2018 to April 2020, while the S&P 500 rose 0.4%.
- The slowest recovery came after FIX fell 93.3% from July 1998 to April 2003; it did not regain that peak until May 2015, 12 years later.
Green means FIX fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | FIX fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| Dot-com bust | −93.3% | −19.5% | Jul 1998 | Apr 2003 | 4.8 years | May 2015 | 12.1 years |
| Late-2018 sell-off | −49.7% | +0.4% | Nov 2018 | Apr 2020 | 17 months | Jan 2021 | 9 months |
| No named crash | −46.1% | −16.4% | Jan 2025 | Apr 2025 | 3 months | Jul 2025 | 3 months |
| No named crash | −32.4% | +3.6% | Jun 2026 | Oct 2026 | 4 months | Not yet | — |
| No named crash | −28.1% | −0.2% | Sep 1997 | Nov 1997 | 2 months | Mar 1998 | 4 months |
How did FIX do in stock market crashes?
This section measures how far FIX, 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.
- FIX fell further than the S&P 500 in eight of the ten crashes it has traded through. The clearest case was the dot-com bust, when FIX fell 77.6% and the S&P 500 fell 47.5%.
- Among its popular alternatives, TTEK held up best, falling less than FIX in six 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 FIX.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| FIX This pageComfort Systems USA, Inc. | — | −7.8% | −23.9% | −38.8% | −30.2% | −6.3% | −26.8% | −33.3% | −3.3% | −57.0% | −77.6% |
| SPY S&P 500State Street SPDR S&P 500 ETF | 8 of 10 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| STRL Sterling Infrastructure, Inc. | 3 of 10 | −8.9% | −34.6% | −49.3% | −30.9% | −8.2% | −31.7% | −26.1% | 0.0% | −64.7% | −45.6% |
| PWR Quanta Services, Inc. | 5 of 10 | −4.0% | −21.7% | −40.8% | −22.1% | −7.1% | −35.4% | −21.6% | −1.7% | −69.6% | −97.1% |
| EME EMCOR Group, Inc. | 5 of 10 | −7.3% | −25.8% | −46.1% | −24.2% | −5.7% | −17.7% | −35.7% | −3.0% | −67.4% | −31.7% |
| TT Trane Technologies plc | 5 of 10 | −3.3% | −37.5% | −39.2% | −17.9% | −8.0% | −20.6% | −34.2% | −2.6% | −77.5% | −44.7% |
| ETN Eaton Corporation plc | 5 of 10 | −4.5% | −26.3% | −44.5% | −26.0% | −6.7% | −22.3% | −34.6% | −1.4% | −68.5% | −31.6% |
| JCI Johnson Controls International plc | 5 of 10 | −6.9% | −41.6% | −44.2% | −22.2% | −8.2% | −20.8% | −19.8% | −1.9% | −66.2% | −85.6% |
| TTEK Tetra Tech, Inc. | 6 of 10 | −3.6% | −30.5% | −31.8% | −32.0% | −10.4% | −17.2% | −24.1% | −2.4% | −49.8% | −77.6% |
| J Jacobs Solutions Inc. | 4 of 10 | −4.9% | −26.3% | −39.3% | −31.7% | −7.3% | −22.0% | −26.6% | −4.3% | −74.1% | −38.3% |
| KBR KBR, Inc. | 1 of 9 | −3.6% | −23.6% | −58.0% | −35.8% | −12.2% | −39.9% | −43.2% | −4.0% | −77.5% | — |
| GVA Granite Construction Incorporated | 5 of 10 | −5.3% | −35.5% | −63.0% | −30.3% | −8.3% | −17.7% | −30.8% | −2.8% | −59.7% | −49.6% |
| CARR Carrier Global Corporation | 1 of 2 | −5.6% | −35.8% | — | — | — | — | — | — | — | — |
| PRIM Primoris Services Corporation | 4 of 9 | −8.0% | −41.0% | −57.6% | −28.4% | −9.3% | −21.6% | −25.7% | −3.4% | −52.5% | — |
| ACM Aecom | 3 of 9 | −6.1% | −22.9% | −54.1% | −27.1% | −9.2% | −27.9% | −36.5% | −5.7% | −58.6% | — |
| FLR Fluor Corporation | 2 of 9 | −8.1% | −26.7% | −76.7% | −50.0% | −6.4% | −18.2% | −32.6% | −6.7% | −70.0% | — |
| MTRX Matrix Service Company | 2 of 10 | −13.3% | −60.8% | −50.6% | −36.6% | −19.1% | −40.8% | −46.5% | −1.0% | −83.2% | −37.2% |
| APG APi Group Corporation | 0 of 2 | −8.6% | −49.6% | — | — | — | — | — | — | — | — |
| ROAD Construction Partners, Inc. | 1 of 4 | −7.7% | −35.5% | −31.5% | −35.3% | — | — | — | — | — | — |
| IESC IES Holdings, Inc. | 4 of 10 | −6.7% | −52.8% | −45.0% | −23.4% | −7.8% | −16.3% | −43.7% | −4.5% | −82.3% | −66.8% |
| MYRG MYR Group Inc. | 4 of 8 | −2.4% | −30.1% | −46.3% | −22.0% | −3.5% | −38.3% | −38.4% | −2.4% | — | — |
| LMB Limbach Holdings, Inc. | 3 of 6 | −0.3% | −44.0% | −44.3% | −67.2% | −3.2% | −1.5% | — | — | — | — |
| DY Dycom Industries, Inc. | 2 of 10 | −7.2% | −24.5% | −70.3% | −41.6% | −8.1% | −45.3% | −30.8% | −6.6% | −88.7% | −84.9% |
| ORN Orion Group Holdings, Inc. | 1 of 8 | −2.6% | −45.3% | −63.6% | −47.0% | −12.0% | −55.8% | −42.6% | −5.7% | — | — |
| MTZ MasTec, Inc. | 3 of 10 | −6.4% | −34.5% | −62.1% | −25.5% | −8.2% | −38.5% | −24.6% | −6.6% | −60.8% | −96.0% |
| VRT Vertiv Holdings Co | 1 of 4 | −12.2% | −65.7% | −58.6% | −3.4% | — | — | — | — | — | — |
How closely does FIX 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 FIX with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- None of the 20 popular alternatives with the same record had a higher capture ratio (upside capture divided by downside capture) than FIX's 2.55.
- Over the past 10 years, FIX captured 180% of the S&P 500's gains in rising months and 71% of its losses in falling months, with a beta of 1.38. Its share of the market's gains was larger than its share of the losses.
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 FIX's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| FIX This pageComfort Systems USA, Inc. | 180% | 71% | 2.55 | 1.38 |
| STRL Sterling Infrastructure, Inc. | 186% | 79% | 2.36 | 1.60 |
| LMB Limbach Holdings, Inc. | 62% | 26% | 2.35 | 1.21 |
| PWR Quanta Services, Inc. | 141% | 61% | 2.31 | 1.22 |
| IESC IES Holdings, Inc. | 173% | 93% | 1.87 | 1.53 |
| EME EMCOR Group, Inc. | 128% | 75% | 1.71 | 1.16 |
| TT Trane Technologies plc | 115% | 69% | 1.66 | 1.10 |
| MYRG MYR Group Inc. | 117% | 75% | 1.56 | 1.22 |
| ETN Eaton Corporation plc | 114% | 80% | 1.43 | 1.16 |
| TTEK Tetra Tech, Inc. | 94% | 76% | 1.24 | 0.88 |
| JCI Johnson Controls International plc | 102% | 90% | 1.13 | 1.17 |
| J Jacobs Solutions Inc. | 82% | 78% | 1.05 | 0.79 |
| MTZ MasTec, Inc. | 143% | 143% | 1.00 | 1.57 |
| PRIM Primoris Services Corporation | 118% | 136% | 0.86 | 1.33 |
| KBR KBR, Inc. | 87% | 104% | 0.83 | 0.88 |
| DY Dycom Industries, Inc. | 114% | 141% | 0.81 | 1.53 |
| GVA Granite Construction Incorporated | 98% | 126% | 0.78 | 1.41 |
| ACM Aecom | 82% | 111% | 0.74 | 1.24 |
| ORN Orion Group Holdings, Inc. | 62% | 107% | 0.58 | 1.21 |
| FLR Fluor Corporation | 101% | 194% | 0.52 | 2.03 |
| MTRX Matrix Service Company | 73% | 187% | 0.39 | 1.35 |
What diversifies FIX?
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 FIX's. Because such investments tend not to fall at the same time, pairing FIX with them can reduce a portfolio's overall swings.
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of FIX over the past 5 years, with correlations of 0.46 or lower, and each still earned a positive 5-year return.
- MCK made money in four of the seven calendar years in which FIX lost money.
- Among large stocks, CAH, MCK and MPC have moved largely independently of FIX over the past 5 years, with correlations of 0.19 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 FIX lost money. The last two columns show a portfolio that is 80% FIX and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2014 | 2011 | 2008 | 2002 | 2000 | 1999 | 1998 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FIX Comfort Systems USA, Inc. (this page) | 1.00 | +1,636% | 1.46 | −10.4% | −17.0% | −15.2% | −9.4% | −71.1% | −58.7% | −9.5% | 44.8% | +88.3% |
| LVHI InternationalFranklin International Low Volatility High Dividend Index ETF | 0.31 | +119% | 1.48 | — | — | — | — | — | — | — | 36.4% | +73.5% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.35 | +225% | 1.34 | +8.1% | −16.1% | −20.8% | — | — | — | — | 36.8% | +76.2% |
| EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund | 0.46 | +101% | 1.04 | +23.8% | — | — | — | — | — | — | 37.2% | +72.8% |
| BUFD Multi-AssetFT Vest Laddered Deep Buffer ETF | 0.49 | +45.4% | 1.01 | — | — | — | — | — | — | — | 36.5% | +70.7% |
| HDV Dividend & IncomeiShares Core High Dividend ETF | 0.28 | +83.3% | 1.00 | +12.6% | — | — | — | — | — | — | 36.7% | +72.1% |
| DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF | 0.47 | +85.0% | 0.96 | +3.4% | — | — | — | — | — | — | 36.9% | +72.3% |
| GLD CommoditiesSPDR Gold Shares | 0.00 | +126% | 0.96 | −2.2% | +9.6% | +4.9% | — | — | — | — | 36.0% | +74.5% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.16 | +177% | 0.93 | −8.7% | +2.8% | −39.0% | −14.8% | +24.4% | +18.1% | — | 37.0% | +75.9% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2014 | 2011 | 2008 | 2002 | 2000 | 1999 | 1998 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FIX Comfort Systems USA, Inc. (this page) | 1.00 | +1,636% | 1.46 | −10.4% | −17.0% | −15.2% | −9.4% | −71.1% | −58.7% | −9.5% | 44.8% | +88.3% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.19 | +479% | 1.55 | +23.0% | +8.1% | −39.6% | −8.3% | +108% | −36.8% | +51.7% | 37.2% | +79.6% |
| MCK Medical - DistributionMcKesson Corporation | 0.16 | +413% | 1.44 | +29.3% | +11.8% | −40.4% | −27.2% | +61.2% | −71.3% | +46.9% | 37.0% | +78.9% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.14 | +690% | 1.41 | +0.4% | — | — | — | — | — | — | 37.3% | +82.8% |
| HWM Aerospace & DefenseHowmet Aerospace Inc. | 0.49 | +594% | 1.36 | +50.9% | −42.9% | −67.4% | −33.1% | −15.9% | +133% | +7.0% | 39.6% | +81.8% |
| ATI Manufacturing - Metal FabricationATI Inc. | 0.32 | +1,008% | 1.34 | −0.5% | −12.2% | −70.0% | −60.8% | −26.5% | — | — | 39.9% | +86.4% |
Common questions
What was FIX's worst drawdown?
FIX's deepest decline since it began trading in 1997 was 93.3%, from July 1998 to April 2003. It took about 12 years from the low to climb back to its old high.
What were FIX's best and worst years?
Over 28 full calendar years, FIX's best year was 2025, when it returned 121%. Its worst was 2000, with a return of -71.1%.
What are the best alternatives to FIX?
None of the 24 popular alternatives we compared outperformed FIX in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about FIX's strength than about its alternatives.
Did FIX outperform the S&P 500?
FIX finished ahead of the S&P 500 (SPY) in 17 of 28 full calendar years. In 2025, it returned +121%, against +17.7% for the index.
How did FIX do in stock market crashes?
FIX fell less than the S&P 500 (SPY) in one of the ten major crashes it has traded through, and further in eight. The clearest case was the dot-com bust, when FIX fell 77.6% and the S&P 500 fell 47.5%.
What diversifies FIX?
These had a low correlation with FIX over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.31), DXJ (correlation 0.35) and EMLP (correlation 0.46); among large stocks, CAH (correlation 0.19), MCK (correlation 0.16) and MPC (correlation 0.14). 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 FIX's. Returns within 0.5 points or 3% of FIX'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 FIX
PWRQuanta Services
TTTrane Technologies
ETNEaton
JCIJohnson Controls International
CARRCarrier Global
VRTVertiv
SCHD
NVDA
AAPL
GOOG
MSFT
AMZN