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Relative Intelligence · Electric Utilities

How National Grid (NGG) compares with the whole market and its popular alternatives

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

Period covered: NGG's full trading record, from October 1999 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

Data as of October 20, 2026. Full tables and charts read best on a larger screen.

Rank the market against NGG →Chart NGG vs. 24 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in NGG over the past 26 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of NGG over the same span and NGG's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Choose a period

From the end of September 2000 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. 909 of the 1,261 stocks and funds worth at least $500 million that traded the whole period ended ahead of NGG; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$1,000$10,000$100,0002000200420082012201620202024$1,000$10,000$100,0002000200720142021
  • ETN$752,515+7,425% total · +18.1% a year
  • HUBB$356,873+3,469% total · +14.7% a year
  • PWR$238,259+2,283% total · +13.0% a year
  • ETR$141,805+1,318% total · +10.7% a year
  • SO$134,779+1,248% total · +10.5% a year
  • EVRG$113,840+1,038% total · +9.8% a year
  • AEP$89,808+798% total · +8.8% a year
  • SPY (S&P 500)$84,332+743% total · +8.5% a year
  • PNW$56,527+465% total · +6.9% a year
  • NGG$48,448+384% total · +6.3% a year
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From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,167 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of NGG; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000$60,000$70,000202120222023202420252026$0$20,000$40,000$60,000$80,000202120222023202420252026
  • PWR$56,870+469% total · +41.6% a year
  • ETN$31,102+211% total · +25.5% a year
  • HUBB$27,103+171% total · +22.1% a year
  • ETR$23,803+138% total · +18.9% a year
  • EMLP$20,506+105% total · +15.4% a year
  • ATO$20,072+101% total · +15.0% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • NI$18,933+89.3% total · +13.6% a year
  • AEP$17,493+74.9% total · +11.8% a year
  • NGG$17,264+72.6% total · +11.5% a year
Change the dates or add tickers to this chart in EasyCompare

NGG at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

The company

Market value
$84B
Industry
Regulated Electric
Price history from
October 1999

Returns

Past 1 year
+10.1%total return
Past 3 years
+69.5%+19.2% a year
Past 5 years
+74.5%+11.8% a year
Past 10 years
+118%+8.1% a year
Best calendar year
+55.5%2006
Worst calendar year
−36.5%2008
Losing years
10 of 26full calendar years

Risk

Volatility
22.6%typical yearly swing, 5 years
Sharpe ratio
0.61return per unit of risk, 5 years
Worst decline ever
−54.9%Dec 2007 to Mar 2009
From its all-time high
−11.4%below the peak

NGG against the whole market

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

How does NGG rank among all stocks?

This section ranks NGG 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 NGG stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.

MeasureNGGRankStanding
1-year return+10.1%1,585 of 3,287top 48%
3-year return+69.5%1,263 of 3,017top 42%
5-year return+74.5%861 of 2,893top 30%
10-year return+118%1,252 of 2,202bottom 44%
Volatility, 5 years22.6%180 of 2,893top 6%
Sharpe ratio, 5 years0.61647 of 2,893top 22%
Worst decline, past 10 years−39.2%135 of 2,187top 6%

What has beaten NGG 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). NGG sits where the dashed lines cross. Anything in the green box above and to the left earned more than NGG with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to NGG; faint dots are 63 more of the 119 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.

10.0%15.0%20.0%25.0%30.0%35.0%10.0%12.0%14.0%16.0%18.0%20.0%22.0%24.0%26.0%28.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than NGGSPYM: +12.8% a year, volatility 16.9%AVLV: +14.0% a year, volatility 16.9%RY: +17.3% a year, volatility 18.2%DBEF: +13.1% a year, volatility 13.8%IOO: +15.7% a year, volatility 17.2%XLG: +13.8% a year, volatility 18.9%JQUA: +13.6% a year, volatility 15.7%USMC: +14.1% a year, volatility 16.4%TDIV: +16.2% a year, volatility 21.3%MPLX: +23.5% a year, volatility 18.8%IDMO: +13.3% a year, volatility 18.2%SPUS: +15.0% a year, volatility 19.5%DIVI: +13.4% a year, volatility 15.5%FLQL: +13.8% a year, volatility 16.3%DBJP: +20.9% a year, volatility 19.2%HLAL: +14.0% a year, volatility 18.0%EQL: +13.5% a year, volatility 14.5%EWJV: +14.9% a year, volatility 18.2%KO: +14.7% a year, volatility 16.8%VSLU: +13.7% a year, volatility 16.2%NXTG: +16.2% a year, volatility 19.1%TD: +15.8% a year, volatility 20.0%CB: +15.7% a year, volatility 20.4%MO: +17.8% a year, volatility 21.4%EPD: +16.4% a year, volatility 17.1%BMO: +13.6% a year, volatility 21.4%BNS: +12.9% a year, volatility 19.9%AFL: +19.0% a year, volatility 20.8%DYNF: +14.7% a year, volatility 17.5%SDCI: +20.6% a year, volatility 18.4%GLD: +17.7% a year, volatility 18.9%FNDF: +13.6% a year, volatility 16.3%IUSG: +12.9% a year, volatility 21.2%PVAL: +16.1% a year, volatility 15.1%L: +14.3% a year, volatility 19.2%HDV: +12.9% a year, volatility 13.0%AVDV: +13.9% a year, volatility 17.4%FDVV: +13.2% a year, volatility 14.6%FDL: +13.9% a year, volatility 14.4%VLUE: +15.9% a year, volatility 18.4%IDV: +12.8% a year, volatility 15.5%GCOW: +14.1% a year, volatility 13.6%MLPX: +18.6% a year, volatility 19.7%FTGC: +12.9% a year, volatility 15.6%WTV: +13.4% a year, volatility 17.0%EWP: +19.2% a year, volatility 20.3%DIVB: +13.9% a year, volatility 15.4%PWV: +13.5% a year, volatility 14.2%JMOM: +12.9% a year, volatility 19.1%AUSF: +13.2% a year, volatility 13.6%VFMF: +14.3% a year, volatility 17.6%COMT: +13.1% a year, volatility 21.1%CRAK: +19.8% a year, volatility 20.9%DGT: +13.8% a year, volatility 15.1%FYLD: +13.1% a year, volatility 16.0%IDOG: +14.1% a year, volatility 15.6%GVAL: +14.4% a year, volatility 18.7%QVAL: +13.7% a year, volatility 21.4%GD: +12.9% a year, volatility 20.8%AMLP: +16.1% a year, volatility 18.9%ITA: +14.6% a year, volatility 20.4%UTES: +13.6% a year, volatility 21.1%FDUS: +13.5% a year, volatility 20.4%NGG: +11.8% a year, volatility 22.6%SPY (S&P 500): +12.7% a year, volatility 17.1%PNW: +13.4% a year, volatility 19.9%ETR: +19.2% a year, volatility 22.4%EMLP: +14.9% a year, volatility 14.5%ATO: +14.9% a year, volatility 18.4%NI: +15.1% a year, volatility 20.3%APG: +23.0% a year, volatility 31.9%VMI: +13.8% a year, volatility 32.7%PAVE: +14.9% a year, volatility 21.6%BRK-B: +13.4% a year, volatility 17.1%LVHI: +17.0% a year, volatility 11.1%NVS: +17.1% a year, volatility 20.7%RSG: +13.9% a year, volatility 18.5%SPMO: +18.7% a year, volatility 20.8%DFIV: +14.8% a year, volatility 16.4%VOO: +12.8% a year, volatility 16.9%WMT: +20.8% a year, volatility 22.6%DXJ: +26.6% a year, volatility 19.1%NGGSPY (S&P 500)PNWETREMLPATONIAPGVMIPAVEBRK-BLVHINVSRSGSPMODFIVVOOWMTDXJ10.0%15.0%20.0%25.0%30.0%35.0%10.0%15.0%20.0%25.0%30.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than NGGSPYM: +12.8% a year, volatility 16.9%AVLV: +14.0% a year, volatility 16.9%RY: +17.3% a year, volatility 18.2%DBEF: +13.1% a year, volatility 13.8%IOO: +15.7% a year, volatility 17.2%XLG: +13.8% a year, volatility 18.9%JQUA: +13.6% a year, volatility 15.7%USMC: +14.1% a year, volatility 16.4%TDIV: +16.2% a year, volatility 21.3%MPLX: +23.5% a year, volatility 18.8%IDMO: +13.3% a year, volatility 18.2%SPUS: +15.0% a year, volatility 19.5%DIVI: +13.4% a year, volatility 15.5%FLQL: +13.8% a year, volatility 16.3%DBJP: +20.9% a year, volatility 19.2%HLAL: +14.0% a year, volatility 18.0%EQL: +13.5% a year, volatility 14.5%EWJV: +14.9% a year, volatility 18.2%KO: +14.7% a year, volatility 16.8%VSLU: +13.7% a year, volatility 16.2%NXTG: +16.2% a year, volatility 19.1%TD: +15.8% a year, volatility 20.0%CB: +15.7% a year, volatility 20.4%MO: +17.8% a year, volatility 21.4%EPD: +16.4% a year, volatility 17.1%BMO: +13.6% a year, volatility 21.4%BNS: +12.9% a year, volatility 19.9%AFL: +19.0% a year, volatility 20.8%DYNF: +14.7% a year, volatility 17.5%SDCI: +20.6% a year, volatility 18.4%GLD: +17.7% a year, volatility 18.9%FNDF: +13.6% a year, volatility 16.3%IUSG: +12.9% a year, volatility 21.2%PVAL: +16.1% a year, volatility 15.1%L: +14.3% a year, volatility 19.2%HDV: +12.9% a year, volatility 13.0%AVDV: +13.9% a year, volatility 17.4%FDVV: +13.2% a year, volatility 14.6%FDL: +13.9% a year, volatility 14.4%VLUE: +15.9% a year, volatility 18.4%IDV: +12.8% a year, volatility 15.5%GCOW: +14.1% a year, volatility 13.6%MLPX: +18.6% a year, volatility 19.7%FTGC: +12.9% a year, volatility 15.6%WTV: +13.4% a year, volatility 17.0%EWP: +19.2% a year, volatility 20.3%DIVB: +13.9% a year, volatility 15.4%PWV: +13.5% a year, volatility 14.2%JMOM: +12.9% a year, volatility 19.1%AUSF: +13.2% a year, volatility 13.6%VFMF: +14.3% a year, volatility 17.6%COMT: +13.1% a year, volatility 21.1%CRAK: +19.8% a year, volatility 20.9%DGT: +13.8% a year, volatility 15.1%FYLD: +13.1% a year, volatility 16.0%IDOG: +14.1% a year, volatility 15.6%GVAL: +14.4% a year, volatility 18.7%QVAL: +13.7% a year, volatility 21.4%GD: +12.9% a year, volatility 20.8%AMLP: +16.1% a year, volatility 18.9%ITA: +14.6% a year, volatility 20.4%UTES: +13.6% a year, volatility 21.1%FDUS: +13.5% a year, volatility 20.4%NGG: +11.8% a year, volatility 22.6%SPY (S&P 500): +12.7% a year, volatility 17.1%PNW: +13.4% a year, volatility 19.9%ETR: +19.2% a year, volatility 22.4%EMLP: +14.9% a year, volatility 14.5%ATO: +14.9% a year, volatility 18.4%NI: +15.1% a year, volatility 20.3%APG: +23.0% a year, volatility 31.9%VMI: +13.8% a year, volatility 32.7%PAVE: +14.9% a year, volatility 21.6%BRK-B: +13.4% a year, volatility 17.1%LVHI: +17.0% a year, volatility 11.1%NVS: +17.1% a year, volatility 20.7%RSG: +13.9% a year, volatility 18.5%SPMO: +18.7% a year, volatility 20.8%DFIV: +14.8% a year, volatility 16.4%VOO: +12.8% a year, volatility 16.9%WMT: +20.8% a year, volatility 22.6%DXJ: +26.6% a year, volatility 19.1%NGGSPY (S&P 500)ETREMLPATONIAPGVMIPAVEBRK-BLVHINVSRSGSPMOWMTDXJ
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region
  • 1 with more than 1.6× NGG's volatility is in the table only

Is there a better investment than NGG?

Investments that beat NGG over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat NGG 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 NGG'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 NGG 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 NGG'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× NGG's volatility counts as better.

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

Screen the whole market against NGG for any period in BetterThanSPYOpen these 18 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years10Y returntotalCorr. with NGG?lower diversifies moreExpenseper year
NGGNational Grid plc · this page
+11.8%22.6%0.61−39.2%+118%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.530.09%
Popular alternativesbest 3 shownThe investments people most often weigh against NGG. 3 of 23 passed at least one test.
PNWPinnacle West Capital Corporation · Electric Utilities
Higher return, lower volatility+13.4%19.9%0.73−39.3%+103%0.55—
PWRQuanta Services, Inc. · Engineering & Construction
Higher return in most periods+39.3%37.2%1.08−45.5%+2,045%0.39—
ETREntergy Corporation · Electric Utilities
Higher return, similar volatility+19.2%22.4%0.90−42.0%+311%0.42—
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 NGG's specific themes. 6 of 62 passed at least one test.
EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure · Electric Grid Infrastructure theme
Higher return, lower volatilityHigher return in most periods+14.9%14.5%1.04−43.6%+150%0.580.95%
ATOAtmos Energy Corporation · Gas Utilities
Higher return, lower volatilityHigher Sharpe, smaller worst decline+14.9%18.4%0.85−32.9%+194%0.72—
NINiSource Inc · Gas Utilities
Higher return, lower volatilityHigher Sharpe, smaller worst decline+15.1%20.3%0.80−30.9%+158%0.61—
APGAPi Group Corporation · Engineering & Construction
Higher return in most periods+23.0%31.9%0.81−49.6%—0.57—
VMIValmont Industries, Inc. · Infrastructure · Electric Grid Infrastructure theme
Higher return in most periods+13.8%32.7%0.56−48.9%+288%0.34—
PAVEGlobal X - U.S. Infrastructure Development ETF · Infrastructure Equity · Electric Grid Infrastructure theme
Higher return, similar volatility+14.9%21.6%0.75−44.1%—0.580.47%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 666 of 3,548 passed at least one test.
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%0.50—
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.0%11.1%1.48−32.4%+194%0.610.40%
NVSNovartis AG · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+17.1%20.7%0.87−26.8%+226%0.61—
RSGRepublic Services, Inc. · Environmental Services
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+13.9%18.5%0.80−34.0%+446%0.40—
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+18.7%20.8%0.93−30.9%+499%0.330.13%
DFIVDimensional - International Value ETF · International Equity
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+14.8%16.4%0.93−25.4%—0.660.27%
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+12.8%16.9%0.80−34.0%+324%0.530.03%
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%0.35—
What these numbers mean for NGG
Annual return
NGG returned 11.8% 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 $17,500. 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
NGG's volatility over the past 5 years was 22.6%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, NGG's return lands within 22.6% 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
NGG's Sharpe ratio over the past 5 years was 0.61, against 0.79 for the S&P 500, so NGG 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
NGG's worst fall from a peak to a low over the past 10 years was 39.2%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 39.2% fall takes a 64.5% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, NGG's monthly returns had a correlation of 0.53 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against NGG instead: the lower it is, the more that option would diversify a NGG holding. Guide: Correlation and diversification →
Show all 119 stocks and funds worth at least $500 million that earned more than NGG with less volatility

Out of 3,633 tested over 5 years. The strongest 74 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with NGGExpense
1
BRK-BBerkshire Hathaway Inc. · Insurance
Whole market+13.4%17.1%0.82−29.6%+274%0.50—
2
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.610.40%
3
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.61—
4
SPYMState Street SPDR Portfolio S&P 500 ETF · US Large-Cap Equity
Whole market+12.8%16.9%0.80−33.9%+324%0.530.02%
5
RSGRepublic Services, Inc. · Environmental Services
Whole market+13.9%18.5%0.80−34.0%+446%0.40—
6
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%0.330.13%
7
DFIVDimensional - International Value ETF · International Equity
Whole market+14.8%16.4%0.93−25.4%—0.660.27%
8
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value
Whole market+14.0%16.9%0.86−19.5%—0.540.15%
9
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.44—
10
DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity
Whole market+13.1%13.8%0.96−32.5%+206%0.590.35%
11
IOOiShares Global 100 ETF · Global Equity
Whole market+15.7%17.2%0.94−31.4%+361%0.510.40%
12
XLGInvesco S&P 500 Top 50 ETF · US Large-Cap Equity
Whole market+13.8%18.9%0.78−30.5%+379%0.420.20%
13
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity
Whole market+13.6%15.7%0.89−32.9%—0.550.12%
14
USMCPrincipal U.S. Mega-Cap ETF · Broad Market
Whole market+14.1%16.4%0.89−30.0%—0.500.12%
15
TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity
Whole market+16.2%21.3%0.81−32.0%+388%0.480.50%
16
MPLXMPLX Lp · Oil & Gas Midstream
Whole market+23.5%18.8%1.22−75.2%+350%0.42—
17
IDMOInvesco S&P International Developed Momentum ETF · International Equity
Whole market+13.3%18.2%0.78−31.3%+229%0.690.25%
18
SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology
Whole market+15.0%19.5%0.82−30.8%—0.450.45%
19
DIVIFranklin International Core Dividend Tilt Index ETF · International
Whole market+13.4%15.5%0.89−27.7%+184%0.760.09%
20
FLQLFranklin U.S. Large Cap Multifactor Index ETF · Broad Market
Whole market+13.8%16.3%0.88−33.6%—0.540.15%
21
DBJPXtrackers MSCI Japan Hedged Equity ETF · International
Whole market+20.9%19.2%1.09−31.3%+348%0.320.45%
22
HLALWahed FTSE USA Shariah ETF · Broad Market
Whole market+14.0%18.0%0.82−33.6%—0.500.50%
23
EQLALPS Equal Sector Weight ETF · Broad Market
Whole market+13.5%14.5%0.94−34.2%+387%0.650.19%
24
EWJViShares MSCI Japan Value ETF · International
Whole market+14.9%18.2%0.86−30.1%—0.560.15%
25
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.290.48%
26
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.62—
27
VSLUApplied Finance Valuation Large Cap ETF · Broad Market
Whole market+13.7%16.2%0.88−23.8%—0.530.49%
28
NXTGFirst Trust Indxx NextG ETF · Technology
Whole market+16.2%19.1%0.89−33.6%+330%0.550.70%
29
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.58—
30
CBChubb Limited · Property & Casualty Insurance
Whole market+15.7%20.4%0.82−42.6%+248%0.36—
31
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%0.43—
32
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Whole market+16.4%17.1%0.98−58.1%+178%0.35—
33
BMOBank of Montreal · Banks
Whole market+13.6%21.4%0.71−51.0%+295%0.45—
34
BNSThe Bank of Nova Scotia · Banks
Whole market+12.9%19.9%0.71−46.9%+187%0.64—
35
AFLAflac Incorporated · Life Insurance
Whole market+19.0%20.8%0.95−54.9%+335%0.42—
36
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Whole market+14.7%17.5%0.87−34.7%—0.480.26%
37
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.150.80%
38
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.480.40%
39
FNDFSchwab Fundamental International Large Company Index ETF · International Equity
Whole market+13.6%16.3%0.87−40.2%+194%0.710.25%
40
IUSGiShares Core S&P U.S. Growth ETF · US Growth Equity
Whole market+12.9%21.2%0.68−32.4%+405%0.420.04%
41
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Whole market+16.1%15.1%1.07−41.3%—0.570.56%
42
LLoews Corporation · Property & Casualty Insurance
Whole market+14.3%19.2%0.80−48.5%+180%0.49—
43
HDViShares Core High Dividend ETF · US Dividend Equity
Whole market+12.9%13.0%1.00−37.0%+172%0.600.08%
44
AVDVAvantis International Small Cap Value ETF · International Equity
Whole market+13.9%17.4%0.84−43.0%—0.680.36%
45
FDVVFidelity High Dividend ETF · US Dividend Equity
Whole market+13.2%14.6%0.92−40.2%+253%0.590.15%
46
FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity
Whole market+13.9%14.4%0.98−41.4%+199%0.560.43%
47
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+15.9%18.4%0.90−39.5%+286%0.490.15%
48
IDViShares International Select Dividend ETF · International Equity
Whole market+12.8%15.5%0.86−42.5%+159%0.710.50%
49
GCOWPacer Global Cash Cows Dividend ETF · International
Whole market+14.1%13.6%1.04−37.6%+168%0.670.60%
50
MLPXGlobal X - MLP & Energy Infrastructure ETF · Energy
Whole market+18.6%19.7%0.97−64.6%+186%0.460.45%
51
FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives
Whole market+12.9%15.6%0.86−35.9%+139%0.150.98%
52
WTVWisdomTree U.S. Value Fund · Broad Market
Whole market+13.4%17.0%0.83−42.2%+303%0.510.12%
53
EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure · Electric Grid Infrastructure theme
Same or nearby category+14.9%14.5%1.04−43.6%+150%0.580.95%
54
EWPiShares MSCI Spain ETF · Broad Market
Whole market+19.2%20.3%0.97−46.4%+196%0.590.50%
55
DIVBiShares Core Dividend ETF · Dividend & Income
Whole market+13.9%15.4%0.93−36.9%—0.550.05%
56
PWVInvesco Large Cap Value ETF · Broad Market
Whole market+13.5%14.2%0.97−37.6%+223%0.550.55%
57
JMOMJPMorgan U.S. Momentum Factor ETF · Broad Market
Whole market+12.9%19.1%0.73−34.3%—0.500.12%
58
AUSFGlobal X - Adaptive U.S. Factor ETF · International
Whole market+13.2%13.6%0.99−44.2%—0.540.27%
59
VFMFVanguard U.S. Multifactor ETF · Broad Market
Whole market+14.3%17.6%0.85−41.3%—0.530.18%
60
COMTiShares GSCI Commodity Dynamic Roll Strategy ETF · Commodities
Whole market+13.1%21.1%0.69−39.2%+160%0.060.49%
61
ATOAtmos Energy Corporation · Gas Utilities
Same or nearby category+14.9%18.4%0.85−32.9%+194%0.72—
62
CRAKVanEck Oil Refiners ETF · Energy
Whole market+19.8%20.9%0.97−58.8%+336%0.350.61%
63
NINiSource Inc · Gas Utilities
Same or nearby category+15.1%20.3%0.80−30.9%+158%0.61—
64
DGTState Street SPDR Global Dow ETF · International
Whole market+13.8%15.1%0.94−34.4%+261%0.670.50%
65
FYLDCambria Foreign Shareholder Yield ETF · Dividend & Income
Whole market+13.1%16.0%0.85−44.6%+203%0.640.59%
66
IDOGALPS International Sector Dividend Dogs ETF · International
Whole market+14.1%15.6%0.93−37.3%+180%0.660.50%
67
GVALCambria Global Value ETF · International
Whole market+14.4%18.7%0.82−46.8%+173%0.610.68%
68
QVALAlpha Architect U.S. Quantitative Value ETF · Broad Market
Whole market+13.7%21.4%0.71−51.5%+230%0.500.28%
69
GDGeneral Dynamics Corporation · Aerospace & Defense
Whole market+12.9%20.8%0.69−51.6%+184%0.33—
70
AMLPAlerian MLP ETF · Energy Equity
Whole market+16.1%18.9%0.89−72.9%+91.0%0.351.01%
71
ITAiShares U.S. Aerospace & Defense ETF · Aerospace & Defense
Whole market+14.6%20.4%0.78−51.0%+258%0.510.37%
72
PNWPinnacle West Capital Corporation · Electric Utilities
Popular alternative+13.4%19.9%0.73−39.3%+103%0.55—
73
UTESVirtus Reaves Utilities ETF · Alternatives
Whole market+13.6%21.1%0.71−35.4%+210%0.520.49%
74
FDUSFidus Investment Corporation · Asset Management
Whole market+13.5%20.4%0.72−68.7%+260%0.26—

NGG against its popular alternatives

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

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

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

15.0%20.0%25.0%30.0%35.0%40.0%−10.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityNGG: 11.8% a year, volatility 22.6%SPY (S&P 500): 12.7% a year, volatility 17.1%ETR: 19.2% a year, volatility 22.4%AEP: 12.4% a year, volatility 20.2%PNW: 13.4% a year, volatility 19.9%D: 0.5% a year, volatility 22.7%NEE: 1.5% a year, volatility 26.8%ED: 12.0% a year, volatility 18.8%ES: −1.4% a year, volatility 23.9%SRE: 8.1% a year, volatility 23.0%PWR: 39.3% a year, volatility 37.2%ETN: 20.4% a year, volatility 32.1%HUBB: 21.0% a year, volatility 30.0%SO: 11.3% a year, volatility 18.8%EVRG: 9.5% a year, volatility 18.9%AEE: 7.8% a year, volatility 19.4%XEL: 6.5% a year, volatility 20.9%WEC: 7.2% a year, volatility 19.0%EXC: 7.1% a year, volatility 20.9%PEG: 5.8% a year, volatility 20.6%DUK: 7.5% a year, volatility 18.0%DTE: 5.7% a year, volatility 19.0%CMS: 5.6% a year, volatility 19.0%FE: 8.5% a year, volatility 19.4%PPL: 7.1% a year, volatility 18.9%NGGSPY (S&P 500)ETRDNEEESSREPWRETNHUBBEVRGAEEXELWECDUKDTE15.0%20.0%25.0%30.0%35.0%40.0%−10.0%0.0%10.0%20.0%30.0%40.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityNGG: 11.8% a year, volatility 22.6%SPY (S&P 500): 12.7% a year, volatility 17.1%ETR: 19.2% a year, volatility 22.4%AEP: 12.4% a year, volatility 20.2%PNW: 13.4% a year, volatility 19.9%D: 0.5% a year, volatility 22.7%NEE: 1.5% a year, volatility 26.8%ED: 12.0% a year, volatility 18.8%ES: −1.4% a year, volatility 23.9%SRE: 8.1% a year, volatility 23.0%PWR: 39.3% a year, volatility 37.2%ETN: 20.4% a year, volatility 32.1%HUBB: 21.0% a year, volatility 30.0%SO: 11.3% a year, volatility 18.8%EVRG: 9.5% a year, volatility 18.9%AEE: 7.8% a year, volatility 19.4%XEL: 6.5% a year, volatility 20.9%WEC: 7.2% a year, volatility 19.0%EXC: 7.1% a year, volatility 20.9%PEG: 5.8% a year, volatility 20.6%DUK: 7.5% a year, volatility 18.0%DTE: 5.7% a year, volatility 19.0%CMS: 5.6% a year, volatility 19.0%FE: 8.5% a year, volatility 19.4%PPL: 7.1% a year, volatility 18.9%NGGSPY (S&P 500)ETRDNEEESSREPWRETNHUBBEVRGAEEXELWECCMS
All figures
InvestmentAnnual returnVolatility
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%
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%
NGG This pageNational Grid plc+11.8%22.6%
SO The Southern Company+11.3%18.8%
EVRG Evergy, Inc.+9.5%18.9%
FE FirstEnergy Corp.+8.5%19.4%
SRE Sempra+8.1%23.0%
AEE Ameren Corporation+7.8%19.4%
DUK Duke Energy Corporation+7.5%18.0%
WEC WEC Energy Group, Inc.+7.2%19.0%
EXC Exelon 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%
NEE NextEra Energy, Inc.+1.5%26.8%
D Dominion Energy, Inc.+0.5%22.7%
ES Eversource Energy−1.4%23.9%
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Has NGG consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than NGG over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5Y10YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
NGG National Grid plc (this page)—+5.7%−1.7%−3.3%+5.7%+10.1%+69.5%+74.5%+118%22.6%0.61−39.2%—$84B—
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—
ETR Regulated ElectricEntergy Corporation2/5 short3/3 long+3.5%−5.5%−6.4%+14.1%+11.4%+149%+141%+311%22.4%0.90−42.0%—$50B—
AEP Regulated ElectricAmerican Electric Power Company, Inc.2/5 short3/3 long+6.0%−2.2%−3.1%+12.4%+11.3%+93.3%+79.4%+185%20.2%0.68−32.9%—$69B—
ETN Electrical Equipment & PartsEaton Corporation plc1/5 short3/3 long−12.3%−4.6%−5.8%+17.7%+2.3%+104%+153%+657%32.1%0.74−44.5%—$148B—
HUBB Electrical Equipment & PartsHubbell Incorporated0/5 short2/3 long+0.4%−5.0%−15.4%+0.1%+7.7%+70.6%+159%+442%30.0%0.79−41.6%—$24B—
PNW Regulated ElectricPinnacle West Capital Corporation4/5 short1/3 long+10.3%−2.3%+1.8%+20.0%+15.3%+57.1%+87.3%+103%19.9%0.73−39.3%—$12B—
SO Regulated ElectricThe Southern Company2/5 short1/3 long+6.1%−3.2%−1.4%+6.6%−4.1%+53.0%+70.9%+170%18.8%0.67−38.4%—$104B—
EVRG Regulated ElectricEvergy, Inc.2/5 short1/3 long+4.5%−1.9%+3.2%+16.3%+9.0%+93.6%+57.2%+109%18.9%0.57−38.8%—$19B—
D Regulated ElectricDominion Energy, Inc.2/5 short1/3 long0.0%−9.8%+3.0%+9.4%+6.6%+80.8%+2.7%+32.5%22.7%0.14−52.2%—$55B—
AEE Regulated ElectricAmeren Corporation1/5 short1/3 long+4.3%−3.1%−3.2%+7.6%+3.4%+52.5%+45.9%+192%19.4%0.49−29.1%—$29B—
XEL Regulated ElectricXcel Energy Inc.1/5 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—
NEE Regulated ElectricNextEra Energy, Inc.0/5 short1/3 long−1.0%−9.7%−13.0%−0.4%−4.3%+65.9%+7.5%+228%26.8%0.19−45.0%—$165B—
WEC Regulated ElectricWEC Energy Group, Inc.0/5 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—
EXC Regulated ElectricExelon Corporation0/5 short1/3 long+2.5%−5.5%−5.5%+0.7%−7.5%+22.6%+40.7%+159%20.9%0.43−40.0%—$44B—
PEG Regulated ElectricPublic Service Enterprise Group Incorporated0/5 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—
DUK Regulated ElectricDuke Energy Corporation0/5 short1/3 long+3.9%−2.7%−3.5%+6.0%−2.6%+56.1%+43.9%+132%18.0%0.50−37.4%—$95B—
DTE Regulated ElectricDTE Energy Company0/5 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 Corporation0/5 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—
ED Regulated ElectricConsolidated Edison, Inc.5/5 short0/3 long+7.8%+1.7%+3.8%+14.7%+13.7%+42.4%+76.3%+114%18.8%0.70−30.9%—$41B—
GEV Industrial - MachineryGE Vernova Inc.2/5 short0/3 long−5.9%−17.5%−10.0%+31.3%+50.1%—————−38.3%—$237B—
ES Regulated ElectricEversource Energy1/5 short0/3 long−2.2%−10.6%−2.2%−0.5%−6.0%+40.5%−7.0%+72.0%23.9%0.06−41.7%—$25B—
SRE Diversified UtilitiesSempra0/5 short0/3 long+2.8%−7.9%−9.9%−5.6%−8.0%+32.7%+47.5%+114%23.0%0.46−45.0%—$54B—
FE Regulated ElectricFirstEnergy Corp.0/5 short0/3 long+1.7%−4.9%−5.7%+4.1%+0.7%+46.8%+50.2%+111%19.4%0.52−47.7%—$26B—
PPL Regulated ElectricPPL Corporation0/5 short0/3 long+4.7%−1.5%−9.2%+0.9%−5.2%+60.8%+40.7%+59.2%18.9%0.46−48.7%—$26B—
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How did NGG do year by year?

This table shows each investment's total return in every full calendar year since 2000, along with where NGG ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with NGG and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Newest year first. Green marks a year in which the fund came out ahead of NGG; gray means the two finished within a fraction of a point. The rank row places NGG among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of NGG20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000
NGG This pageNational Grid plc—+35.9%−1.3%+18.8%−12.7%+29.0%−0.7%+38.5%−13.7%+5.1%−12.3%+3.2%+13.3%+19.9%+25.6%+16.0%−12.7%+14.0%−36.5%+19.3%+55.5%−9.2%+32.4%−1.5%+21.5%−32.2%+18.4%
Rank among alternativesTop quarter in 8 of 262 of 2523 of 244 of 2423 of 246 of 2413 of 247 of 2422 of 2420 of 2424 of 245 of 2421 of 247 of 245 of 2417 of 2422 of 2413 of 2420 of 249 of 241 of 2423 of 243 of 2422 of 242 of 2423 of 2421 of 24
SPY S&P 500State Street SPDR S&P 500 ETF12 of 26+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%
PWR Quanta Services, Inc.14 of 26+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%
ETR Entergy Corporation14 of 26+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%
AEP American Electric Power Company, Inc.13 of 26+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%
ETN Eaton Corporation plc18 of 26−2.8%+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%
HUBB Hubbell Incorporated16 of 26+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%
PNW Pinnacle West Capital Corporation14 of 26+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%
SO The Southern Company14 of 26+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%
EVRG Evergy, Inc.13 of 26+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%
D Dominion Energy, Inc.13 of 26+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%
AEE Ameren Corporation15 of 26+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%
XEL Xcel Energy Inc.16 of 26+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%
NEE NextEra Energy, Inc.17 of 26+15.5%+21.5%−25.3%−8.5%+23.4%+30.0%+42.6%+14.3%+34.4%+18.5%+0.8%+27.9%+27.9%+17.9%+21.9%+2.3%+9.0%−23.5%+27.9%+35.5%+15.2%+18.5%+13.0%+11.3%−18.5%+74.7%
WEC WEC Energy Group, Inc.15 of 26+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%
EXC Exelon Corporation15 of 26+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%
PEG Public Service Enterprise Group Incorporated14 of 26−1.9%+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%
DUK Duke Energy Corporation15 of 26+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%
DTE DTE Energy Company13 of 26+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%
CMS CMS Energy Corporation12 of 26+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%
ED Consolidated Edison, Inc.14 of 26+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%
GEV GE Vernova Inc.1 of 1+99.0%—————————————————————————
ES Eversource Energy13 of 26+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%
SRE Sempra16 of 26+3.9%+21.1%−0.1%+20.3%+7.4%−12.8%+44.0%+4.5%+8.7%+10.1%−13.2%+27.3%+30.3%+33.8%+8.7%−3.4%+35.6%−29.2%+12.8%+28.1%+25.8%+25.6%+31.8%+0.5%+10.1%+40.6%
FE FirstEnergy Corp.13 of 26+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%
PPL PPL Corporation12 of 26+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%
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Risk and diversification

How NGG 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 NGG's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents NGG's five deepest drawdowns since it began trading in 1999, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Green means NGG fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringNGG fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
2008 financial crisis−54.9%−46.3%Dec 2007Mar 200915 monthsOct 20134.6 years
2022 bear market−39.2%−19.5%Apr 2022Oct 20226 monthsMay 202419 months
Dot-com bust−37.3%−44.7%Mar 2000Mar 20033 yearsDec 200421 months
Covid crash−34.0%−32.8%Feb 2020Mar 20201 monthMay 202114 months
Late-2018 sell-off−31.3%+10.1%May 2017Dec 201819 monthsJan 202013 months

How did NGG do in stock market crashes?

This section measures how far NGG, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than NGG.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
NGG This pageNational Grid plc—−0.3%−39.2%−34.0%−14.6%−6.3%−7.6%−8.5%−0.7%−53.4%−36.8%
SPY S&P 500State Street SPDR S&P 500 ETF1 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
PWR Quanta Services, Inc.1 of 10−4.0%−21.7%−40.8%−22.1%−7.1%−35.4%−21.6%−1.7%−69.6%−97.1%
ETR Entergy Corporation5 of 10−3.0%−21.9%−41.3%−8.0%−4.1%−13.2%−13.4%−1.1%−49.4%−28.4%
AEP American Electric Power Company, Inc.5 of 10−2.0%−22.3%−32.4%−8.5%−5.5%−10.6%−9.3%−0.8%−48.0%−62.8%
ETN Eaton Corporation plc2 of 10−4.5%−26.3%−44.5%−26.0%−6.7%−22.3%−34.6%−1.4%−68.5%−31.6%
HUBB Hubbell Incorporated3 of 10−5.6%−17.3%−40.6%−31.6%−3.7%−20.9%−26.6%−1.0%−59.7%−27.4%
PNW Pinnacle West Capital Corporation4 of 10−4.0%−24.0%−39.3%−8.4%−4.3%−11.2%−13.4%−2.2%−43.8%−53.3%
SO The Southern Company7 of 10−1.2%−23.3%−38.1%−9.6%−1.9%−9.4%−5.2%0.0%−30.4%−19.0%
EVRG Evergy, Inc.4 of 10−2.1%−22.8%−38.8%−8.0%−2.6%−11.2%−14.6%−1.2%−39.8%−59.5%
D Dominion Energy, Inc.7 of 10−3.2%−28.0%−33.3%−7.5%−3.1%−13.3%−7.7%0.0%−41.4%−44.4%
AEE Ameren Corporation5 of 10−2.5%−22.9%−29.1%−10.2%−4.2%−11.5%−13.2%−1.9%−60.6%−17.8%
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%
NEE NextEra Energy, Inc.5 of 10−1.7%−24.0%−35.6%−8.2%−6.9%−12.9%−12.8%0.0%−47.9%−32.2%
WEC WEC Energy Group, Inc.6 of 10−1.9%−23.6%−32.3%−9.8%−4.0%−9.6%−12.0%−0.6%−24.4%−21.3%
EXC Exelon Corporation4 of 10−2.6%−27.4%−39.8%−6.9%−4.6%−24.7%−10.5%−0.8%−50.9%−40.6%
PEG Public Service Enterprise Group Incorporated3 of 10−3.6%−27.3%−38.0%−10.8%−6.6%−14.8%−13.4%−1.0%−51.0%−48.3%
DUK Duke Energy Corporation5 of 10−1.9%−24.1%−37.4%−7.7%−2.9%−13.7%−8.8%0.0%−38.9%−63.5%
DTE DTE Energy Company5 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 Corporation5 of 10−2.8%−26.5%−29.3%−9.8%−3.9%−10.4%−13.5%−1.3%−49.4%−79.9%
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%
ES Eversource Energy4 of 10−2.7%−23.1%−36.8%−9.1%−5.4%−11.5%−13.8%−1.8%−40.3%−43.1%
SRE Sempra4 of 10−3.1%−19.4%−44.6%−9.4%−2.1%−17.0%−12.7%−1.3%−40.7%−40.7%
FE FirstEnergy Corp.5 of 10−4.1%−25.2%−36.4%−9.5%−3.5%−15.6%−12.5%0.0%−54.2%−34.4%
PPL PPL Corporation4 of 10−1.9%−21.8%−47.1%−13.1%−5.3%−11.7%−11.5%0.0%−53.5%−55.4%
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How closely does NGG 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 NGG with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.

Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than NGG's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
NGG This pageNational Grid plc52%61%0.850.58
ETR Entergy Corporation58%24%2.390.53
PWR Quanta Services, Inc.141%61%2.311.22
SO The Southern Company41%20%1.980.39
AEP American Electric Power Company, Inc.44%23%1.930.40
EXC Exelon Corporation40%21%1.910.37
DUK Duke Energy Corporation35%19%1.880.33
ED Consolidated Edison, Inc.31%18%1.750.22
WEC WEC Energy Group, Inc.41%23%1.730.34
XEL Xcel Energy Inc.41%24%1.680.35
CMS CMS Energy Corporation35%23%1.560.28
AEE Ameren Corporation51%33%1.520.38
ETN Eaton Corporation plc114%80%1.431.16
NEE NextEra Energy, Inc.62%44%1.400.45
PNW Pinnacle West Capital Corporation34%27%1.230.38
FE FirstEnergy Corp.40%33%1.220.36
EVRG Evergy, Inc.42%38%1.110.47
DTE DTE Energy Company47%42%1.110.50
PEG Public Service Enterprise Group Incorporated52%47%1.090.53
HUBB Hubbell Incorporated108%101%1.071.03
SRE Sempra48%49%0.970.60
ES Eversource Energy49%61%0.790.52
PPL PPL Corporation52%77%0.670.65
D Dominion Energy, Inc.43%70%0.610.52
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What diversifies NGG?

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 NGG's. Because such investments tend not to fall at the same time, pairing NGG with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which NGG lost money. The last two columns show a portfolio that is 80% NGG and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe202420222020201820162010200820052003200180/20 mix volatility80/20 mix annual return
NGG National Grid plc (this page)1.00+74.5%0.61−1.3%−12.7%−0.7%−13.7%−12.3%−12.7%−36.5%−9.2%−1.5%−32.2%22.5%+11.5%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.29+225%1.34+29.8%+6.0%+3.9%−19.8%+1.1%−1.8%−20.8%———18.9%+14.9%
BUFD Multi-AssetFT Vest Laddered Deep Buffer ETF0.48+45.4%1.01+12.4%−7.7%————————18.7%+11.2%
FTLS Broad MarketFirst Trust Long/Short Equity ETF0.48+62.9%0.99+18.8%−5.6%+2.6%−4.8%+6.5%—————18.9%+11.8%
MLPX EnergyGlobal X - MLP & Energy Infrastructure ETF0.46+135%0.97+42.9%+21.5%−20.3%−15.5%+36.3%—————20.0%+13.6%
SMH TechnologyVanEck Semiconductor ETF0.40+323%0.97+39.1%−33.5%+55.5%−9.1%+35.6%+19.0%−44.7%+10.8%+87.3%−14.6%21.7%+17.3%
GLD CommoditiesSPDR Gold Shares0.48+126%0.96+26.7%−0.8%+24.8%−1.9%+8.0%+29.3%+4.9%+17.8%——19.9%+13.3%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.33+136%0.93+45.8%−10.4%+28.2%−0.9%+7.4%—————19.8%+14.0%
XLE EnergyState Street Energy Select Sector SPDR ETF0.27+177%0.93+5.6%+64.4%−32.7%−18.2%+28.0%+21.9%−39.0%+40.1%+25.9%−18.2%20.0%+14.5%

Stocks

InvestmentCorrelation5Y returnSharpe202420222020201820162010200820052003200180/20 mix volatility80/20 mix annual return
NGG National Grid plc (this page)1.00+74.5%0.61−1.3%−12.7%−0.7%−13.7%−12.3%−12.7%−36.5%−9.2%−1.5%−32.2%22.5%+11.5%
CAH Medical - DistributionCardinal Health, Inc.0.37+479%1.55+19.0%+54.1%+10.1%−24.5%−17.5%+21.4%−39.6%+18.7%+3.5%−2.5%20.6%+17.1%
CLS Hardware, Equipment & PartsCelestica Inc.0.08+3,143%1.47+215%+1.3%−2.4%−16.3%+7.4%+2.8%−20.5%−25.2%+6.9%−25.6%22.2%+30.2%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.37+1,636%1.46+107%+17.0%+6.7%+0.8%+18.3%+8.7%−15.2%+20.1%+63.6%+73.7%22.9%+25.6%
MCK Medical - DistributionMcKesson Corporation0.30+413%1.44+23.7%+51.8%+27.1%−28.4%−28.3%+13.8%−40.4%+64.9%+19.9%+4.9%20.1%+16.5%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.12+690%1.41−4.0%+86.6%−27.4%−8.2%+0.7%—————19.9%+19.4%
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Common questions

What was NGG's worst drawdown?

NGG's deepest decline since it began trading in 1999 was 54.9%, from December 2007 to March 2009. It took about five years from the low to climb back to its old high.

What were NGG's best and worst years?

Over 26 full calendar years, NGG's best year was 2006, when it returned 55.5%. Its worst was 2008, with a return of -36.5%.

Is there a better investment than NGG?

Among NGG's popular alternatives, PNW earned more than NGG with less volatility over the past 5 years: 13.4% a year at 19.9% volatility, against 11.8% a year at 22.6%. Looking beyond its popular alternatives, EMLP (electric grid infrastructure theme) and ATO (gas utilities) earned more than NGG with less volatility over the past 5 years. EMLP returned 14.9% a year at 14.5% volatility, against 11.8% a year at 22.6%.

Is NGG more volatile than the S&P 500?

Yes. NGG's volatility over the past 5 years was 22.6%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, NGG's return lands within 22.6% 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 NGG's Sharpe ratio?

NGG's Sharpe ratio over the past 5 years was 0.61, against 0.79 for the S&P 500, so NGG 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 NGG with the S&P 500?

Over the past 5 years, NGG's monthly returns had a correlation of 0.53 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against NGG instead: the lower it is, the more that option would diversify a NGG holding.

What are the best alternatives to NGG?

Of the 24 popular alternatives we compared, one outperformed NGG in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: PWR.

Did NGG outperform the S&P 500?

NGG finished ahead of the S&P 500 (SPY) in 11 of 26 full calendar years. In 2025, it returned +35.9%, against +17.7% for the index.

How did NGG do in stock market crashes?

NGG fell less than the S&P 500 (SPY) in seven of the ten major crashes it has traded through, and further in one. The clearest case was the dot-com bust, when NGG fell 36.8% and the S&P 500 fell 47.5%.

What diversifies NGG?

These had a low correlation with NGG over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.29), BUFD (correlation 0.48) and FTLS (correlation 0.48); among large stocks, CAH (correlation 0.37), CLS (correlation 0.08) and FIX (correlation 0.37). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to NGG