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

> Source: EasyCompare research, https://easycompare.io/research/ngg
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

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.

## Key findings

- **Right now:** NGG has gone against the market, falling 3.3% over the past 6 months while the S&P 500 rose 9.1%. Its electric utility peers split over the past 6 months: ED (Consolidated Edison) rose 3.8%, while NEE (NextEra Energy) fell 13.0%.
- **Stock or market?:** NGG fell 1.7% over the past 3 months, 4.4 points ahead of the electric utilities ETF XLU (State Street Utilities Select Sector SPDR ETF), which fell 6.1%. The S&P 500 rose 3.9%. Last month cut against the tape: NGG rose 5.7% while the S&P 500 fell 0.6%.
- **Past 1 to 3 years:** Over the past year, NGG rose 10.1% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (69.5% against 89.3%).
- **Long term:** NGG turned $10,000 into $21,800 over the past decade, against $42,100 in the S&P 500.
- **In a crash:** NGG fell less than the S&P 500 in five of seven sell-offs, but the 2022 bear market broke the pattern: it fell 39.2%, more than the S&P 500's 24.5%.
- **Diversification:** NGG is some diversification, but not a hedge: a correlation of 0.53 with the S&P 500 over 5 years and 0.53 with the total US market, more closely than 80% of stocks worth at least $300 million. Over 10 years NGG gave up some upside in exchange for smaller losses: 52% of the S&P 500's gains in rising months and 61% of its losses in falling ones, with a beta of 0.58.
- **Better options**
  - **Popular alternatives:** PNW (Pinnacle West Capital) 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%.
  - **Nearby categories and themes:** EMLP (First Trust North American Energy Infrastructure Fund, electric grid infrastructure theme) and ATO (Atmos Energy, 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%.
  - **Whole market:** 119 of the 3,633 stocks and funds worth at least $500 million earned more than NGG with less volatility over the past 5 years, among them BRK-B (Berkshire Hathaway), BRK-A (Berkshire Hathaway) and KO (Coca-Cola).

## 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.

- $10,000 invested in NGG at the end of September 2000 would have grown to $48,448 by September 2026, less than the $84,332 it would have become in SPY, an S&P 500 fund.
- All eight other investments on the chart ended ahead of NGG, and ETN finished highest, at $752,515.

## 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.

- 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.
- Over 26 full calendar years, NGG's best was 2006, when it returned 55.5%, and its worst was 2008, when it lost 36.5%. It lost money in ten of those years.
- NGG is 11.4% below its all-time high.

- Type: Stock, Utilities (Regulated Electric)
- Trading since: October 7, 1999
- Market value: $84B
- Volatility (5 years): 22.6%; Sharpe ratio: 0.61
- Worst decline ever: −54.9%, from December 10, 2007 to March 30, 2009; back at its high by October 23, 2013

| Period | NGG total return |
| --- | --- |
| 1 month | +5.7% |
| 3 months | −1.7% |
| 6 months | −3.3% |
| year to date | +5.7% |
| 1 year | +10.1% |
| 3 years | +69.5% |
| 5 years | +74.5% |
| 10 years | +118% |

## 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.

- NGG's worst decline of the past 10 years ranks in the top 6% of the 2,187 stocks worth at least $300 million, where the top fell the least.

| Measure | NGG | Rank |
| --- | --- | --- |
| 1-year return | +10.1% | 1,585 of 3,287 (top 49%) |
| 3-year return | +69.5% | 1,263 of 3,017 (top 42%) |
| 5-year return | +74.5% | 861 of 2,893 (top 30%) |
| 10-year return | +118% | 1,252 of 2,202 (top 57%) |
| Volatility, 5 years | 22.6% | 180 of 2,893 (top 7%) |
| Sharpe ratio, 5 years | 0.61 | 647 of 2,893 (top 23%) |
| Worst decline, past 10 years | −39.2% | 135 of 2,187 (top 7%) |

### 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).

- 20 stocks and 99 ETFs worth at least $500 million sit in the green region: each earned more than NGG over the past 5 years with smaller price swings. That is 3% of the 3,633 screened.
- Among those with at least half NGG's swings, DXJ has the best return for its risk: 26.6% a year at 19.1% volatility, 16% less than NGG's 22.6%, and a Sharpe ratio (return above cash per unit of volatility) of 1.34 against 0.61 for NGG.
- Among NGG's popular alternatives, PNW is in the region. PNW earned 13.4% a year against 11.8% a year for NGG, at 19.9% volatility, 12% less than NGG's 22.6%.

### Is there a better investment than NGG?

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.

- 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%.
- Across the whole market, 119 of the 3,633 stocks and funds worth at least $500 million earned more than NGG with less volatility over the past 5 years, among them BRK-B, BRK-A and KO.

The 15 strongest of 119 investments that beat NGG over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with NGG | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NGG: National Grid plc (this page) |  | +11.8% | 22.6% | 0.61 | −39.2% | +118% |  |  |
| [BRK-B](https://easycompare.io/research/brk-b): Berkshire Hathaway Inc. | Insurance | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.50 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | International Equity | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.61 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [NVS](https://easycompare.io/research/nvs): Novartis AG | Pharmaceuticals | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.61 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [SPYM](https://easycompare.io/research/spym): State Street SPDR Portfolio S&P 500 ETF | US Large-Cap Equity | +12.8% | 16.9% | 0.80 | −33.9% | +324% | 0.53 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [RSG](https://easycompare.io/research/rsg): Republic Services, Inc. | Environmental Services | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.40 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| SPMO: Invesco S&P 500 Momentum ETF | US Momentum Equity | +18.7% | 20.8% | 0.93 | −30.9% | +499% | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| DFIV: Dimensional - International Value ETF | International Equity | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.66 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| AVLV: Avantis U.S. Large Cap Value ETF | US Large-Cap Value | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.54 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.44 | Higher return, lower volatility; Higher return in most periods |
| DBEF: Xtrackers MSCI EAFE Hedged Equity ETF | International Equity | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.59 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| IOO: iShares Global 100 ETF | Global Equity | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.51 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| XLG: Invesco S&P 500 Top 50 ETF | US Large-Cap Equity | +13.8% | 18.9% | 0.78 | −30.5% | +379% | 0.42 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| JQUA: JPMorgan U.S. Quality Factor ETF | US Quality Equity | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.55 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| USMC: Principal U.S. Mega-Cap ETF | Broad Market | +14.1% | 16.4% | 0.89 | −30.0% | — | 0.50 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| TDIV: First Trust NASDAQ Technology Dividend Index Fund | Technology Equity | +16.2% | 21.3% | 0.81 | −32.0% | +388% | 0.48 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |

## 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.

- Four of the 23 popular alternatives, led by ETR, PNW and AEP, were both more rewarding and calmer than NGG over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, NGG returned 11.8% a year, less than the S&P 500's 12.7%, with higher volatility (22.6% against 17.1%).

### 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.

- Only one of the 24 popular alternatives, PWR, outperformed NGG in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- ED, AEP and SO earned more for the risk they took than NGG (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
- ETN outperformed NGG over all three long-term periods but in only one of the five short-term ones, so NGG has had the better of it lately.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of NGG | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| NGG: National Grid plc (this page) | +10.1% | +69.5% | +74.5% | +118% |  |  | 0.61 |
| [PWR](https://easycompare.io/research/pwr): Quanta Services, Inc. | +35.3% | +263% | +425% | +2,045% | 3/5 short-term, 3/3 long-term | consistent | 1.08 |
| [ETR](https://easycompare.io/research/etr): Entergy Corporation | +11.4% | +149% | +141% | +311% | 2/5 short-term, 3/3 long-term |  | 0.90 |
| [AEP](https://easycompare.io/research/aep): American Electric Power Company, Inc. | +11.3% | +93.3% | +79.4% | +185% | 2/5 short-term, 3/3 long-term |  | 0.68 |
| [ETN](https://easycompare.io/research/etn): Eaton Corporation plc | +2.3% | +104% | +153% | +657% | 1/5 short-term, 3/3 long-term |  | 0.74 |
| HUBB: Hubbell Incorporated | +7.7% | +70.6% | +159% | +442% | 0/5 short-term, 2/3 long-term |  | 0.79 |
| PNW: Pinnacle West Capital Corporation | +15.3% | +57.1% | +87.3% | +103% | 4/5 short-term, 1/3 long-term |  | 0.73 |
| [SO](https://easycompare.io/research/so): The Southern Company | −4.1% | +53.0% | +70.9% | +170% | 2/5 short-term, 1/3 long-term |  | 0.67 |
| EVRG: Evergy, Inc. | +9.0% | +93.6% | +57.2% | +109% | 2/5 short-term, 1/3 long-term |  | 0.57 |
| [D](https://easycompare.io/research/d): Dominion Energy, Inc. | +6.6% | +80.8% | +2.7% | +32.5% | 2/5 short-term, 1/3 long-term |  | 0.14 |
| AEE: Ameren Corporation | +3.4% | +52.5% | +45.9% | +192% | 1/5 short-term, 1/3 long-term |  | 0.49 |
| [XEL](https://easycompare.io/research/xel): Xcel Energy Inc. | −2.7% | +46.0% | +37.3% | +156% | 1/5 short-term, 1/3 long-term |  | 0.41 |
| [NEE](https://easycompare.io/research/nee): NextEra Energy, Inc. | −4.3% | +65.9% | +7.5% | +228% | 0/5 short-term, 1/3 long-term |  | 0.19 |
| WEC: WEC Energy Group, Inc. | −4.3% | +49.1% | +41.6% | +159% | 0/5 short-term, 1/3 long-term |  | 0.46 |
| [EXC](https://easycompare.io/research/exc): Exelon Corporation | −7.5% | +22.6% | +40.7% | +159% | 0/5 short-term, 1/3 long-term |  | 0.43 |
| PEG: Public Service Enterprise Group Incorporated | −13.6% | +31.9% | +32.3% | +142% | 0/5 short-term, 1/3 long-term |  | 0.38 |
| [DUK](https://easycompare.io/research/duk): Duke Energy Corporation | −2.6% | +56.1% | +43.9% | +132% | 0/5 short-term, 1/3 long-term |  | 0.50 |
| DTE: DTE Energy Company | −6.7% | +48.3% | +32.2% | +127% | 0/5 short-term, 1/3 long-term |  | 0.39 |
| CMS: CMS Energy Corporation | −6.0% | +42.2% | +31.4% | +123% | 0/5 short-term, 1/3 long-term |  | 0.38 |
| [ED](https://easycompare.io/research/ed): Consolidated Edison, Inc. | +13.7% | +42.4% | +76.3% | +114% | 5/5 short-term, 0/3 long-term |  | 0.70 |
| [GEV](https://easycompare.io/research/gev): GE Vernova Inc. | +50.1% | — | — | — | 2/5 short-term, 0/3 long-term |  | — |
| ES: Eversource Energy | −6.0% | +40.5% | −7.0% | +72.0% | 1/5 short-term, 0/3 long-term |  | 0.06 |
| [SRE](https://easycompare.io/research/sre): Sempra | −8.0% | +32.7% | +47.5% | +114% | 0/5 short-term, 0/3 long-term |  | 0.46 |
| FE: FirstEnergy Corp. | +0.7% | +46.8% | +50.2% | +111% | 0/5 short-term, 0/3 long-term |  | 0.52 |
| PPL: PPL Corporation | −5.2% | +60.8% | +40.7% | +59.2% | 0/5 short-term, 0/3 long-term |  | 0.46 |

### 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.

- Ranked against its popular alternatives each year, NGG finished in the top quarter in eight of 26 years and in the bottom quarter in 12. In 2025, it ranked 2 of 25.
- NGG finished ahead of the S&P 500 in 11 of its 26 full calendar years.
- Among its popular alternatives, ETN came out ahead of NGG most often, in 18 of the 26 years both traded.

| Year | NGG | SPY |
| --- | --- | --- |
| 2025 | +35.9% | +17.7% |
| 2024 | −1.3% | +24.9% |
| 2023 | +18.8% | +26.2% |
| 2022 | −12.7% | −18.2% |
| 2021 | +29.0% | +28.7% |
| 2020 | −0.7% | +18.3% |
| 2019 | +38.5% | +31.2% |
| 2018 | −13.7% | −4.6% |
| 2017 | +5.1% | +21.7% |
| 2016 | −12.3% | +12.0% |

## 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.

- In four of NGG's five worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: NGG fell 31.3% from May 2017 to December 2018, while the S&P 500 rose 10.1%.
- The slowest recovery came after NGG fell 54.9% from December 2007 to March 2009; it did not regain that peak until October 2013, five years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −54.9% | December 10, 2007 | March 30, 2009 | October 23, 2013 | −46.3% | 2008 financial crisis |
| −39.2% | April 6, 2022 | October 12, 2022 | May 15, 2024 | −19.5% | 2022 bear market |
| −37.3% | March 27, 2000 | March 12, 2003 | December 20, 2004 | −44.7% | dot-com bust |
| −34.0% | February 21, 2020 | March 23, 2020 | May 10, 2021 | −32.8% | Covid crash |
| −31.3% | May 19, 2017 | December 18, 2018 | January 21, 2020 | +10.1% | late-2018 sell-off |

### 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.

- NGG fell less than the S&P 500 in seven of the ten crashes it has traded through. The clearest case was the dot-com bust, when NGG fell 36.8% and the S&P 500 fell 47.5%.
- Among its popular alternatives, ED held up best, falling less than NGG in eight of the ten crashes they both traded through.

| Crash | Dates | NGG fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −36.8% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −53.4% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −0.7% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −8.5% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −7.6% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −6.3% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −14.6% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −34.0% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −39.2% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −0.3% | −3.4% |

### 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.

- Over the past 10 years, NGG captured 52% of the S&P 500's gains in rising months and 61% of its losses in falling months, with a beta of 0.58. Its share of the market's losses was slightly larger than its share of the gains.
- 20 of the 23 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than NGG's 0.85, led by ETR, PWR and SO.
- AEP took just 23% of the S&P 500's losses, against 61% for NGG, while still keeping 44% of its gains.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| NGG: National Grid plc (this page) | 52.0% | 61.0% | 0.58 |
| [PWR](https://easycompare.io/research/pwr): Quanta Services, Inc. | 141% | 61.0% | 1.22 |
| [ETR](https://easycompare.io/research/etr): Entergy Corporation | 58.0% | 24.0% | 0.53 |
| [AEP](https://easycompare.io/research/aep): American Electric Power Company, Inc. | 44.0% | 23.0% | 0.40 |
| [ETN](https://easycompare.io/research/etn): Eaton Corporation plc | 114% | 80.0% | 1.16 |
| HUBB: Hubbell Incorporated | 108% | 101% | 1.03 |
| PNW: Pinnacle West Capital Corporation | 34.0% | 27.0% | 0.38 |
| [SO](https://easycompare.io/research/so): The Southern Company | 41.0% | 20.0% | 0.39 |
| EVRG: Evergy, Inc. | 42.0% | 38.0% | 0.47 |
| [D](https://easycompare.io/research/d): Dominion Energy, Inc. | 43.0% | 70.0% | 0.52 |
| AEE: Ameren Corporation | 51.0% | 33.0% | 0.38 |
| [XEL](https://easycompare.io/research/xel): Xcel Energy Inc. | 41.0% | 24.0% | 0.35 |
| [NEE](https://easycompare.io/research/nee): NextEra Energy, Inc. | 62.0% | 44.0% | 0.45 |
| WEC: WEC Energy Group, Inc. | 41.0% | 23.0% | 0.34 |
| [EXC](https://easycompare.io/research/exc): Exelon Corporation | 40.0% | 21.0% | 0.37 |
| PEG: Public Service Enterprise Group Incorporated | 52.0% | 47.0% | 0.53 |
| [DUK](https://easycompare.io/research/duk): Duke Energy Corporation | 35.0% | 19.0% | 0.33 |
| DTE: DTE Energy Company | 47.0% | 42.0% | 0.50 |
| CMS: CMS Energy Corporation | 35.0% | 23.0% | 0.28 |
| [ED](https://easycompare.io/research/ed): Consolidated Edison, Inc. | 31.0% | 18.0% | 0.22 |
| ES: Eversource Energy | 49.0% | 61.0% | 0.52 |
| [SRE](https://easycompare.io/research/sre): Sempra | 48.0% | 49.0% | 0.60 |
| FE: FirstEnergy Corp. | 40.0% | 33.0% | 0.36 |
| PPL: PPL Corporation | 52.0% | 77.0% | 0.65 |

### 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).

- Moving a fifth of the money in NGG into BUFD would have cut the portfolio's volatility by 17% over the past 5 years for a small cut in its annual return (+11.5% for NGG alone, +11.2% for the mix).
- FIX made money in nine of the ten calendar years in which NGG lost money.
- Among large ETFs, DXJ, BUFD and FTLS have moved largely independently of NGG over the past 5 years, with correlations of 0.48 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with NGG | 5Y return | Volatility | Sharpe | Rose in NGG's 10 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.29 | +225% | 19.1% | 1.34 | 4 of 10 |
| BUFD: FT Vest Laddered Deep Buffer ETF | 0.48 | +45.4% | 7.8% | 1.01 | 1 of 10 |
| FTLS: First Trust Long/Short Equity ETF | 0.48 | +62.9% | 10.4% | 0.99 | 3 of 10 |
| MLPX: Global X - MLP & Energy Infrastructure ETF | 0.46 | +135% | 19.7% | 0.97 | 3 of 10 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.40 | +323% | 36.9% | 0.97 | 6 of 10 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.48 | +126% | 18.9% | 0.96 | 6 of 10 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.33 | +136% | 20.8% | 0.93 | 3 of 10 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.27 | +177% | 25.5% | 0.93 | 6 of 10 |

## 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.

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## Explore further

- Full page with charts: https://easycompare.io/research/ngg
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against NGG live: https://betterthanspy.com/?b=NGG&utm_source=easycompare&utm_medium=research