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Relative Intelligence · Oil & Gas Midstream

How ONEOK (OKE) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on OKE alone. It places OKE (ONEOK, Inc.) against 18 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 OKE stands in the market, and of the alternatives worth a closer look.

Period covered: OKE's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

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

Rank the market against OKE →Chart OKE vs. 18 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in OKE over the past 28 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of OKE over the same span and OKE'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.

Note: The chart covers the past 28 years rather than OKE's full 29 years, because most of its popular alternatives have not traded that long.

Choose a period

From the end of September 1998 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. 183 of the 1,106 stocks and funds worth at least $500 million that traded the whole period ended ahead of OKE; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$100,000$1M199820032008201320182023$10,000$100,000$1M19982005201220192026
  • GILD$3M+32,222% total · +22.9% a year
  • LNG$2M+16,009% total · +19.9% a year
  • FAST$1M+10,306% total · +18.0% a year
  • RY$529,885+5,199% total · +15.2% a year
  • EPD$513,562+5,036% total · +15.1% a year
  • OKE$422,121+4,121% total · +14.3% a year
  • WMB$377,615+3,676% total · +13.8% a year
  • EQT$213,937+2,039% total · +11.6% a year
  • SPY (S&P 500)$121,630+1,116% total · +9.3% a year
  • BKR$117,312+1,073% total · +9.2% 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. 867 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of OKE; 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
  • TRGP$61,030+510% total · +43.6% a year
  • PSX$43,718+337% total · +34.3% a year
  • PAA$34,327+243% total · +28.0% a year
  • WMB$32,631+226% total · +26.7% a year
  • MPLX$30,642+206% total · +25.1% a year
  • LNG$28,953+190% total · +23.7% a year
  • KMI$23,609+136% total · +18.7% a year
  • EPD$23,444+134% total · +18.6% a year
  • OKE$19,267+92.7% total · +14.0% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
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OKE 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
$59B
Industry
Oil & Gas Midstream
Price history from
October 1986

Returns

Past 1 year
+42.8%total return
Past 3 years
+59.9%+16.9% a year
Past 5 years
+86.8%+13.3% a year
Past 10 years
+233%+12.8% a year
Best calendar year
+150%2016
Worst calendar year
−47.4%2015
Losing years
10 of 29full calendar years

Risk

Volatility
28.0%typical yearly swing, 5 years
Sharpe ratio
0.59return per unit of risk, 5 years
Worst decline ever
−80.2%Feb 2020 to Mar 2020
From its all-time high
−13.3%below the peak

OKE against the whole market

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

How does OKE rank among all stocks?

This section ranks OKE 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 OKE 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.

MeasureOKERankStanding
1-year return+42.8%679 of 3,287top 21%
3-year return+59.9%1,403 of 3,017top 47%
5-year return+86.8%769 of 2,893top 27%
10-year return+233%764 of 2,202top 35%
Volatility, 5 years28.0%554 of 2,893top 19%
Sharpe ratio, 5 years0.59702 of 2,893top 24%
Worst decline, past 10 years−80.2%1,647 of 2,187bottom 26%

What has beaten OKE 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). OKE sits where the dashed lines cross. Anything in the green box above and to the left earned more than OKE 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 OKE; faint dots are 84 more of the 149 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%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than OKECCEP: +19.7% a year, volatility 23.2%FAST: +15.8% a year, volatility 24.6%THG: +14.4% a year, volatility 22.9%KO: +14.7% a year, volatility 16.8%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%RY: +17.3% a year, volatility 18.2%CHCO: +15.9% a year, volatility 22.8%GILD: +22.8% a year, volatility 24.9%TD: +15.8% a year, volatility 20.0%VGT: +18.4% a year, volatility 26.0%MO: +17.8% a year, volatility 21.4%MFC: +22.6% a year, volatility 24.0%CTAS: +16.5% a year, volatility 23.1%WAB: +25.6% a year, volatility 26.2%XLE: +22.6% a year, volatility 25.5%WMT: +20.8% a year, volatility 22.6%IX: +17.9% a year, volatility 25.4%SDCI: +20.6% a year, volatility 18.4%KOF: +22.3% a year, volatility 24.7%IHG: +21.4% a year, volatility 26.6%DXJ: +26.6% a year, volatility 19.1%EWT: +20.4% a year, volatility 24.2%MSGS: +18.4% a year, volatility 25.6%FLTW: +21.8% a year, volatility 24.3%RSPT: +16.9% a year, volatility 25.1%PGR: +21.3% a year, volatility 25.6%CB: +15.7% a year, volatility 20.4%IXC: +20.7% a year, volatility 23.2%COR: +24.2% a year, volatility 22.8%MNST: +17.2% a year, volatility 24.9%AFL: +19.0% a year, volatility 20.8%ORLY: +15.9% a year, volatility 23.4%MSI: +14.8% a year, volatility 23.6%ETR: +19.2% a year, volatility 22.4%ALL: +17.0% a year, volatility 26.2%PCAR: +17.9% a year, volatility 26.1%AME: +14.4% a year, volatility 22.1%CBOE: +21.5% a year, volatility 25.1%ACGL: +20.1% a year, volatility 24.5%IUS: +14.7% a year, volatility 14.9%HIG: +15.6% a year, volatility 22.0%CTBI: +16.0% a year, volatility 26.0%WRB: +18.9% a year, volatility 22.9%CRAK: +19.8% a year, volatility 20.9%GSG: +15.3% a year, volatility 22.9%NXTG: +16.2% a year, volatility 19.1%IOO: +15.7% a year, volatility 17.2%ORI: +17.0% a year, volatility 22.2%JPM: +17.3% a year, volatility 24.3%HSBC: +33.1% a year, volatility 25.9%LVHI: +17.0% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%QQQ: +14.5% a year, volatility 23.0%NVS: +17.1% a year, volatility 20.7%WELL: +26.0% a year, volatility 23.8%RTX: +18.6% a year, volatility 24.3%TJX: +19.9% a year, volatility 22.3%GLD: +17.7% a year, volatility 18.9%DBJP: +20.9% a year, volatility 19.2%BTI: +18.7% a year, volatility 22.0%BNY: +22.7% a year, volatility 24.4%CM: +19.2% a year, volatility 21.6%GWW: +26.3% a year, volatility 24.9%DYNF: +14.7% a year, volatility 17.5%ATO: +14.9% a year, volatility 18.4%SPMO: +18.7% a year, volatility 20.8%DFIV: +14.8% a year, volatility 16.4%PVAL: +16.1% a year, volatility 15.1%NI: +15.1% a year, volatility 20.3%PAGP: +26.8% a year, volatility 26.1%OHI: +16.4% a year, volatility 24.2%PAVE: +14.9% a year, volatility 21.6%ITA: +14.6% a year, volatility 20.4%AIRR: +18.3% a year, volatility 25.9%CTRE: +16.7% a year, volatility 24.6%ACT: +20.5% a year, volatility 24.3%AXS: +16.7% a year, volatility 25.2%GHC: +17.4% a year, volatility 26.3%WTM: +15.4% a year, volatility 23.6%MLPX: +18.6% a year, volatility 19.7%TDIV: +16.2% a year, volatility 21.3%AMLP: +16.1% a year, volatility 18.9%EUFN: +18.5% a year, volatility 21.8%OKE: +13.3% a year, volatility 28.0%SPY (S&P 500): +12.7% a year, volatility 17.1%PAA: +27.0% a year, volatility 25.6%WMB: +24.6% a year, volatility 24.0%EPD: +16.4% a year, volatility 17.1%KMI: +18.7% a year, volatility 22.5%PSX: +33.2% a year, volatility 32.9%LNG: +23.4% a year, volatility 30.2%SHEL: +21.0% a year, volatility 24.8%XOM: +27.1% a year, volatility 26.5%E: +23.0% a year, volatility 25.6%CVX: +19.5% a year, volatility 25.2%TTE: +18.0% a year, volatility 25.8%PBA: +13.8% a year, volatility 21.5%ABBV: +26.1% a year, volatility 23.4%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%AMGN: +19.6% a year, volatility 24.9%TRV: +22.4% a year, volatility 22.3%VLUE: +15.9% a year, volatility 18.4%MFG: +33.6% a year, volatility 30.6%VOO: +12.8% a year, volatility 16.9%CAH: +42.1% a year, volatility 24.7%MPLX: +23.5% a year, volatility 18.8%OKESPY (S&P 500)PAAWMBEPDKMIPSXLNGSHELXOMECVXTTEPBAABBVMCKMRKTRVVLUEMFGVOOCAHMPLX10.0%15.0%20.0%25.0%30.0%35.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than OKECCEP: +19.7% a year, volatility 23.2%FAST: +15.8% a year, volatility 24.6%THG: +14.4% a year, volatility 22.9%KO: +14.7% a year, volatility 16.8%PM: +21.0% a year, volatility 23.4%CSCO: +16.8% a year, volatility 26.1%RY: +17.3% a year, volatility 18.2%CHCO: +15.9% a year, volatility 22.8%GILD: +22.8% a year, volatility 24.9%TD: +15.8% a year, volatility 20.0%VGT: +18.4% a year, volatility 26.0%MO: +17.8% a year, volatility 21.4%MFC: +22.6% a year, volatility 24.0%CTAS: +16.5% a year, volatility 23.1%WAB: +25.6% a year, volatility 26.2%XLE: +22.6% a year, volatility 25.5%WMT: +20.8% a year, volatility 22.6%IX: +17.9% a year, volatility 25.4%SDCI: +20.6% a year, volatility 18.4%KOF: +22.3% a year, volatility 24.7%IHG: +21.4% a year, volatility 26.6%DXJ: +26.6% a year, volatility 19.1%EWT: +20.4% a year, volatility 24.2%MSGS: +18.4% a year, volatility 25.6%FLTW: +21.8% a year, volatility 24.3%RSPT: +16.9% a year, volatility 25.1%PGR: +21.3% a year, volatility 25.6%CB: +15.7% a year, volatility 20.4%IXC: +20.7% a year, volatility 23.2%COR: +24.2% a year, volatility 22.8%MNST: +17.2% a year, volatility 24.9%AFL: +19.0% a year, volatility 20.8%ORLY: +15.9% a year, volatility 23.4%MSI: +14.8% a year, volatility 23.6%ETR: +19.2% a year, volatility 22.4%ALL: +17.0% a year, volatility 26.2%PCAR: +17.9% a year, volatility 26.1%AME: +14.4% a year, volatility 22.1%CBOE: +21.5% a year, volatility 25.1%ACGL: +20.1% a year, volatility 24.5%IUS: +14.7% a year, volatility 14.9%HIG: +15.6% a year, volatility 22.0%CTBI: +16.0% a year, volatility 26.0%WRB: +18.9% a year, volatility 22.9%CRAK: +19.8% a year, volatility 20.9%GSG: +15.3% a year, volatility 22.9%NXTG: +16.2% a year, volatility 19.1%IOO: +15.7% a year, volatility 17.2%ORI: +17.0% a year, volatility 22.2%JPM: +17.3% a year, volatility 24.3%HSBC: +33.1% a year, volatility 25.9%LVHI: +17.0% a year, volatility 11.1%COST: +17.4% a year, volatility 22.9%QQQ: +14.5% a year, volatility 23.0%NVS: +17.1% a year, volatility 20.7%WELL: +26.0% a year, volatility 23.8%RTX: +18.6% a year, volatility 24.3%TJX: +19.9% a year, volatility 22.3%GLD: +17.7% a year, volatility 18.9%DBJP: +20.9% a year, volatility 19.2%BTI: +18.7% a year, volatility 22.0%BNY: +22.7% a year, volatility 24.4%CM: +19.2% a year, volatility 21.6%GWW: +26.3% a year, volatility 24.9%DYNF: +14.7% a year, volatility 17.5%ATO: +14.9% a year, volatility 18.4%SPMO: +18.7% a year, volatility 20.8%DFIV: +14.8% a year, volatility 16.4%PVAL: +16.1% a year, volatility 15.1%NI: +15.1% a year, volatility 20.3%PAGP: +26.8% a year, volatility 26.1%OHI: +16.4% a year, volatility 24.2%PAVE: +14.9% a year, volatility 21.6%ITA: +14.6% a year, volatility 20.4%AIRR: +18.3% a year, volatility 25.9%CTRE: +16.7% a year, volatility 24.6%ACT: +20.5% a year, volatility 24.3%AXS: +16.7% a year, volatility 25.2%GHC: +17.4% a year, volatility 26.3%WTM: +15.4% a year, volatility 23.6%MLPX: +18.6% a year, volatility 19.7%TDIV: +16.2% a year, volatility 21.3%AMLP: +16.1% a year, volatility 18.9%EUFN: +18.5% a year, volatility 21.8%OKE: +13.3% a year, volatility 28.0%SPY (S&P 500): +12.7% a year, volatility 17.1%PAA: +27.0% a year, volatility 25.6%WMB: +24.6% a year, volatility 24.0%EPD: +16.4% a year, volatility 17.1%KMI: +18.7% a year, volatility 22.5%PSX: +33.2% a year, volatility 32.9%LNG: +23.4% a year, volatility 30.2%SHEL: +21.0% a year, volatility 24.8%XOM: +27.1% a year, volatility 26.5%E: +23.0% a year, volatility 25.6%CVX: +19.5% a year, volatility 25.2%TTE: +18.0% a year, volatility 25.8%PBA: +13.8% a year, volatility 21.5%ABBV: +26.1% a year, volatility 23.4%MCK: +38.7% a year, volatility 25.0%MRK: +16.3% a year, volatility 24.8%AMGN: +19.6% a year, volatility 24.9%TRV: +22.4% a year, volatility 22.3%VLUE: +15.9% a year, volatility 18.4%MFG: +33.6% a year, volatility 30.6%VOO: +12.8% a year, volatility 16.9%CAH: +42.1% a year, volatility 24.7%MPLX: +23.5% a year, volatility 18.8%OKESPY (S&P 500)PAAWMBEPDKMIPSXLNGSHELXOMTTEABBVMCKMRKTRVMFGVOOCAHMPLX
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market
  • Others in the green region

Is there a better investment than OKE?

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

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

Screen the whole market against OKE for any period in BetterThanSPYOpen these 21 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 OKE?lower diversifies moreExpenseper year
OKEONEOK, Inc. · this page
+13.3%28.0%0.59−80.2%+233%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.470.09%
Popular alternativesbest 6 shownThe investments people most often weigh against OKE. 12 of 18 passed at least one test.
PAAPlains All American Pipeline, L.P. · Oil & Gas Midstream
Higher return, lower volatilityHigher return in most periods+27.0%25.6%1.06−87.9%+64.0%0.66—
WMBThe Williams Companies, Inc. · Oil & Gas Midstream
Higher return, lower volatilityHigher Sharpe, smaller worst decline+24.6%24.0%1.04−68.1%+288%0.75—
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Higher return, lower volatilityHigher Sharpe, smaller worst decline+16.4%17.1%0.98−58.1%+178%0.76—
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Higher return, lower volatilityHigher Sharpe, smaller worst decline+18.7%22.5%0.88−55.1%+163%0.76—
PSXPhillips 66 · Oil & Gas
Higher Sharpe, smaller worst declineHigher return in most periods+33.2%32.9%1.04−64.2%+430%0.58—
LNGCheniere Energy, Inc. · Oil & Gas
Higher return, similar volatilityHigher Sharpe, smaller worst decline+23.4%30.2%0.85−57.5%+616%0.54—
Same and neighboring categories, and shared themesbest 6 shownEverything else in Oil & Gas Midstream and Oil & Gas and the categories next to it (Exploration & Production, Integrated Oil & Gas, Oilfield Services), plus OKE's specific themes. 26 of 70 passed at least one test.
SHELShell plc · Integrated Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+21.0%24.8%0.90−67.2%+233%0.50—
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+27.1%26.5%1.04−61.0%+214%0.58—
EEni S.p.A. · Integrated Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods+23.0%25.6%0.94−61.4%+278%0.56—
CVXChevron Corporation · Integrated Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+19.5%25.2%0.84−55.8%+238%0.63—
TTETotalEnergies SE · Integrated Oil & Gas
Higher return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+18.0%25.8%0.78−59.6%+234%0.46—
PBAPembina Pipeline Corporation · Oil & Gas Midstream
Similar return, lower volatilityHigher Sharpe, smaller worst decline+13.8%21.5%0.71−70.9%+172%0.70—
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 636 of 3,545 passed at least one test.
ABBVAbbVie Inc. · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+26.1%23.4%1.11−45.1%+603%0.19—
MCKMcKesson Corporation · Health Care Distribution
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+38.7%25.0%1.44−38.1%+586%0.30—
MRKMerck & Co., Inc. · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+16.3%24.8%0.74−43.4%+241%0.29—
AMGNAmgen Inc. · Biotechnology
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+19.6%24.9%0.85−24.9%+266%0.31—
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+22.4%22.3%1.02−46.3%+347%0.56—
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+15.9%18.4%0.90−39.5%+286%0.420.15%
MFGMizuho Financial Group, Inc. · Banks
Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periodsSmaller losses in recent crashes+33.6%30.6%1.10−45.7%+345%0.27—
VOOVanguard S&P 500 ETF · US Large-Cap Equity
Similar return, lower volatilityHigher Sharpe, smaller worst declineSmaller losses in recent crashes+12.8%16.9%0.80−34.0%+324%0.460.03%
What these numbers mean for OKE
Annual return
OKE returned 13.3% 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 $18,700. 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
OKE's volatility over the past 5 years was 28.0%, 1.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, OKE's return lands within 28.0% 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
OKE's Sharpe ratio over the past 5 years was 0.59, against 0.79 for the S&P 500, so OKE 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
OKE's worst fall from a peak to a low over the past 10 years was 80.2%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 80.2% fall takes a 405% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, OKE's monthly returns had a correlation of 0.47 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 OKE instead: the lower it is, the more that option would diversify a OKE holding. Guide: Correlation and diversification →
Show all 149 stocks and funds worth at least $500 million that earned more than OKE with less volatility

Out of 3,633 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with OKEExpense
1
ABBVAbbVie Inc. · Pharmaceuticals
Whole market+26.1%23.4%1.11−45.1%+603%0.19—
2
MCKMcKesson Corporation · Health Care Distribution
Whole market+38.7%25.0%1.44−38.1%+586%0.30—
3
MRKMerck & Co., Inc. · Pharmaceuticals
Whole market+16.3%24.8%0.74−43.4%+241%0.29—
4
AMGNAmgen Inc. · Biotechnology
Whole market+19.6%24.9%0.85−24.9%+266%0.31—
5
TRVThe Travelers Companies, Inc. · Property & Casualty Insurance
Whole market+22.4%22.3%1.02−46.3%+347%0.56—
6
CCEPCoca-Cola Europacific Partners PLC · Food & Beverages
Whole market+19.7%23.2%0.90−48.8%+292%0.27—
7
FASTFastenal Company · Industrial Distribution
Whole market+15.8%24.6%0.72−30.7%+576%0.40—
8
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.31—
9
SHELShell plc · Integrated Oil & Gas
Same or nearby category+21.0%24.8%0.90−67.2%+233%0.50—
10
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Whole market+15.9%18.4%0.90−39.5%+286%0.420.15%
11
THGThe Hanover Insurance Group, Inc. · Property & Casualty Insurance
Whole market+14.4%22.9%0.70−40.1%+291%0.39—
12
KOThe Coca-Cola Company · Food & Beverages
Whole market+14.7%16.8%0.91−37.0%+204%0.37—
13
PMPhilip Morris International Inc. · Tobacco
Whole market+21.0%23.4%0.94−42.9%+242%0.34—
14
CSCOCisco Systems, Inc. · Communications Equipment
Whole market+16.8%26.1%0.73−42.0%+374%0.17—
15
RYRoyal Bank of Canada · Banks
Whole market+17.3%18.2%0.97−40.0%+352%0.33—
16
CHCOCity Holding Company · Banks - Regional
Whole market+15.9%22.8%0.77−32.3%+286%0.45—
17
GILDGilead Sciences, Inc. · Biotechnology
Whole market+22.8%24.9%0.95−30.5%+200%0.25—
18
TDThe Toronto-Dominion Bank · Banks
Whole market+15.8%20.0%0.84−42.0%+310%0.30—
19
VGTVanguard Information Technology ETF · Technology Equity
Whole market+18.4%26.0%0.78−35.1%+779%0.190.09%
20
MOAltria Group, Inc. · Tobacco
Whole market+17.8%21.4%0.88−53.7%+140%0.53—
21
MFCManulife Financial Corporation · Life Insurance
Whole market+22.6%24.0%0.97−57.5%+373%0.53—
22
CTASCintas Corporation · Business Services
Whole market+16.5%23.1%0.78−48.4%+808%0.45—
23
WABWestinghouse Air Brake Technologies Corporation · Industrial Machinery
Whole market+25.6%26.2%1.00−64.1%+264%0.53—
24
XLEState Street Energy Select Sector SPDR ETF · Energy Equity
Whole market+22.6%25.5%0.93−66.8%+189%0.740.08%
25
WMTWalmart Inc. · Discount Retail
Whole market+20.8%22.6%0.96−25.7%+508%0.39—
26
XOMExxonmobil Holdings Corporation · Integrated Oil & Gas
Same or nearby category+27.1%26.5%1.04−61.0%+214%0.58—
27
IXORIX Corporation · Diversified Financials
Whole market+17.9%25.4%0.78−42.5%+284%0.38—
28
SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds
Whole market+20.6%18.4%1.12−45.7%—0.460.80%
29
KOFCoca-Cola FEMSA, S.A.B. de C.V. · Food & Beverages
Whole market+22.3%24.7%0.94−55.1%+119%0.16—
30
IHGInterContinental Hotels Group PLC · Hotels & Resorts
Whole market+21.4%26.6%0.86−59.3%+383%0.47—
31
DXJWisdomTree Japan Hedged Equity Fund · International Equity
Whole market+26.6%19.1%1.34−39.1%+428%0.240.48%
32
EWTiShares MSCI Taiwan ETF · International Equity
Whole market+20.4%24.2%0.89−38.9%+468%0.180.59%
33
EEni S.p.A. · Integrated Oil & Gas
Same or nearby category+23.0%25.6%0.94−61.4%+278%0.56—
34
MSGSMadison Square Garden Sports Corp. · Entertainment
Whole market+18.4%25.6%0.79−41.6%+432%0.45—
35
FLTWFranklin FTSE Taiwan ETF · Technology
Whole market+21.8%24.3%0.94−38.0%—0.150.19%
36
RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity
Whole market+16.9%25.1%0.75−33.7%+572%0.230.40%
37
PGRThe Progressive Corporation · Property & Casualty Insurance
Whole market+21.3%25.6%0.89−30.3%+816%0.47—
38
CBChubb Limited · Property & Casualty Insurance
Whole market+15.7%20.4%0.82−42.6%+248%0.55—
39
IXCiShares Global Energy ETF · International
Whole market+20.7%23.2%0.93−64.2%+183%0.720.37%
40
CORCencora, Inc. · Health Care Distribution
Whole market+24.2%22.8%1.07−32.4%+406%0.40—
41
MNSTMonster Beverage Corporation · Food & Beverages
Whole market+17.2%24.9%0.77−30.4%+285%0.02—
42
AFLAflac Incorporated · Life Insurance
Whole market+19.0%20.8%0.95−54.9%+335%0.58—
43
ORLYO'Reilly Automotive, Inc. · Specialty Retail
Whole market+15.9%23.4%0.75−42.0%+393%0.38—
44
MSIMotorola Solutions, Inc. · Communications Equipment
Whole market+14.8%23.6%0.71−32.8%+625%0.48—
45
ETREntergy Corporation · Electric Utilities
Whole market+19.2%22.4%0.90−42.0%+311%0.49—
46
ALLThe Allstate Corporation · Property & Casualty Insurance
Whole market+17.0%26.2%0.73−41.4%+356%0.48—
47
PCARPACCAR Inc · Commercial Vehicles
Whole market+17.9%26.1%0.76−37.9%+314%0.61—
48
AMEAMETEK, Inc. · Electronic Instruments
Whole market+14.4%22.1%0.72−42.7%+481%0.37—
49
CBOECboe Global Markets, Inc. · Capital Markets
Whole market+21.5%25.1%0.91−43.2%+463%0.21—
50
ACGLArch Capital Group Ltd. · Property & Casualty Insurance
Whole market+20.1%24.5%0.87−53.8%+309%0.51—
51
IUSInvesco RAFI Strategic US ETF · Broad Market
Whole market+14.7%14.9%1.00−34.7%—0.600.19%
52
HIGThe Hartford Insurance Group, Inc. · Property & Casualty Insurance
Whole market+15.6%22.0%0.77−57.6%+294%0.61—
53
CTBICommunity Trust Bancorp, Inc. · Banks - Regional
Whole market+16.0%26.0%0.70−43.0%+192%0.51—
54
WRBW. R. Berkley Corporation · Property & Casualty Insurance
Whole market+18.9%22.9%0.87−45.3%+443%0.40—
55
CRAKVanEck Oil Refiners ETF · Energy
Whole market+19.8%20.9%0.97−58.8%+336%0.500.61%
56
GSGiShares S&P GSCI Commodity-Indexed Trust · Commodities
Whole market+15.3%22.9%0.74−57.6%+144%0.420.75%
57
CVXChevron Corporation · Integrated Oil & Gas
Same or nearby category+19.5%25.2%0.84−55.8%+238%0.63—
58
NXTGFirst Trust Indxx NextG ETF · Technology
Whole market+16.2%19.1%0.89−33.6%+330%0.170.70%
59
TTETotalEnergies SE · Integrated Oil & Gas
Same or nearby category+18.0%25.8%0.78−59.6%+234%0.46—
60
IOOiShares Global 100 ETF · Global Equity
Whole market+15.7%17.2%0.94−31.4%+361%0.380.40%
61
ORIOld Republic International Corporation · Property & Casualty Insurance
Whole market+17.0%22.2%0.82−47.8%+349%0.59—
62
JPMJPMorgan Chase & Co. · Banks
Whole market+17.3%24.3%0.78−43.6%+537%0.58—
63
HSBCHSBC Holdings plc · Banks
Whole market+33.1%25.9%1.24−62.3%+319%0.32—
64
LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity
Whole market+17.0%11.1%1.48−32.4%+194%0.550.40%
65
COSTCostco Wholesale Corporation · Discount Retail
Whole market+17.4%22.9%0.82−31.4%+685%0.39—
66
QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth
Whole market+14.5%23.0%0.71−35.1%+553%0.220.18%
67
NVSNovartis AG · Pharmaceuticals
Whole market+17.1%20.7%0.87−26.8%+226%0.32—
68
WELLWelltower Inc. · Healthcare REITs
Whole market+26.0%23.8%1.09−63.3%+379%0.48—
69
RTXRTX Corporation · Aerospace & Defense
Whole market+18.6%24.3%0.83−52.0%+317%0.33—
70
TJXThe TJX Companies, Inc. · Specialty Retail
Whole market+19.9%22.3%0.93−42.5%+361%0.29—
71
GLDSPDR Gold Shares · Gold
Whole market+17.7%18.9%0.96−26.4%+213%0.110.40%
72
DBJPXtrackers MSCI Japan Hedged Equity ETF · International
Whole market+20.9%19.2%1.09−31.3%+348%0.170.45%
73
BTIBritish American Tobacco p.l.c. · Tobacco
Whole market+18.7%22.0%0.90−56.1%+98.2%0.32—
74
BNYBank of New York Mellon Corp · Banks
Whole market+22.7%24.4%0.97−50.5%+341%0.52—
75
CMCanadian Imperial Bank of Commerce · Banks
Whole market+19.2%21.6%0.93−47.3%+395%0.32—
76
GWWW.W. Grainger, Inc. · Industrial Distribution
Whole market+26.3%24.9%1.07−41.6%+654%0.47—
77
DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity
Whole market+14.7%17.5%0.87−34.7%—0.450.26%
78
ATOAtmos Energy Corporation · Gas Utilities
Whole market+14.9%18.4%0.85−32.9%+194%0.49—
79
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Whole market+18.7%20.8%0.93−30.9%+499%0.340.13%
80
DFIVDimensional - International Value ETF · International Equity
Whole market+14.8%16.4%0.93−25.4%—0.540.27%
81
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Whole market+16.1%15.1%1.07−41.3%—0.670.56%
82
PAAPlains All American Pipeline, L.P. · Oil & Gas Midstream
Popular alternative+27.0%25.6%1.06−87.9%+64.0%0.66—
83
NINiSource Inc · Gas Utilities
Whole market+15.1%20.3%0.80−30.9%+158%0.59—
84
PAGPPlains GP Holdings LP · Oil & Gas Midstream
Same or nearby category+26.8%26.1%1.05−88.0%+56.3%0.69—
85
OHIOmega Healthcare Investors, Inc. · Healthcare REITs
Whole market+16.4%24.2%0.75−66.9%+202%0.28—
86
PAVEGlobal X - U.S. Infrastructure Development ETF · Infrastructure Equity
Whole market+14.9%21.6%0.75−44.1%—0.520.47%
87
ITAiShares U.S. Aerospace & Defense ETF · Aerospace & Defense
Whole market+14.6%20.4%0.78−51.0%+258%0.400.37%
88
AIRRFirst Trust RBA American Industrial RenaissanceTM ETF · US Industrials
Whole market+18.3%25.9%0.78−42.4%+407%0.400.69%
89
CTRECareTrust REIT, Inc. · Healthcare REITs
Whole market+16.7%24.6%0.76−67.4%+310%0.29—
90
ACTEnact Holdings Inc. · Insurance
Whole market+20.5%24.3%0.89−20.2%—0.53—
91
WMBThe Williams Companies, Inc. · Oil & Gas Midstream
Popular alternative+24.6%24.0%1.04−68.1%+288%0.75—
92
AXSAXIS Capital Holdings Limited · Property & Casualty Insurance
Whole market+16.7%25.2%0.74−49.3%+137%0.48—
93
EPDEnterprise Products Partners L.P. · Oil & Gas Midstream
Popular alternative+16.4%17.1%0.98−58.1%+178%0.76—
94
KMIKinder Morgan, Inc. · Oil & Gas Midstream
Popular alternative+18.7%22.5%0.88−55.1%+163%0.76—
95
GHCGraham Holdings Company · Industrial Conglomerates
Whole market+17.4%26.3%0.74−62.5%+191%0.42—
96
WTMWhite Mountains Insurance Group, Ltd. · Insurance
Whole market+15.4%23.6%0.73−40.2%+169%0.50—
97
MLPXGlobal X - MLP & Energy Infrastructure ETF · Energy
Whole market+18.6%19.7%0.97−64.6%+186%0.870.45%
98
TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity
Whole market+16.2%21.3%0.81−32.0%+388%0.250.50%
99
AMLPAlerian MLP ETF · Energy Equity · Energy Pipelines theme
Same or nearby category+16.1%18.9%0.89−72.9%+91.0%0.741.01%
100
EUFNiShares MSCI Europe Financials ETF · Financial Sector Equity
Whole market+18.5%21.8%0.89−53.2%+233%0.420.49%

OKE against its popular alternatives

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

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

Green points earned more than OKE 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%45.0%5.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityOKE: 13.3% a year, volatility 28.0%SPY (S&P 500): 12.7% a year, volatility 17.1%PAA: 27.0% a year, volatility 25.6%MPLX: 23.5% a year, volatility 18.8%WMB: 24.6% a year, volatility 24.0%KMI: 18.7% a year, volatility 22.5%WES: 23.5% a year, volatility 27.6%EPD: 16.4% a year, volatility 17.1%AM: 20.1% a year, volatility 25.9%DTM: 24.5% a year, volatility 25.2%DVN: 9.3% a year, volatility 39.9%GEL: 10.6% a year, volatility 39.4%PSX: 33.2% a year, volatility 32.9%TRGP: 41.8% a year, volatility 31.7%LNG: 23.4% a year, volatility 30.2%BKR: 19.8% a year, volatility 34.6%EQT: 22.4% a year, volatility 40.9%TRP: 10.8% a year, volatility 21.9%ENB: 9.1% a year, volatility 18.9%HESM: 10.9% a year, volatility 27.0%OKESPY (S&P 500)PAAMPLXWMBKMIWESEPDAMDTMDVNGELPSXTRGPLNGBKREQTTRPENBHESM15.0%20.0%25.0%30.0%35.0%40.0%45.0%0.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityOKE: 13.3% a year, volatility 28.0%SPY (S&P 500): 12.7% a year, volatility 17.1%PAA: 27.0% a year, volatility 25.6%MPLX: 23.5% a year, volatility 18.8%WMB: 24.6% a year, volatility 24.0%KMI: 18.7% a year, volatility 22.5%WES: 23.5% a year, volatility 27.6%EPD: 16.4% a year, volatility 17.1%AM: 20.1% a year, volatility 25.9%DTM: 24.5% a year, volatility 25.2%DVN: 9.3% a year, volatility 39.9%GEL: 10.6% a year, volatility 39.4%PSX: 33.2% a year, volatility 32.9%TRGP: 41.8% a year, volatility 31.7%LNG: 23.4% a year, volatility 30.2%BKR: 19.8% a year, volatility 34.6%EQT: 22.4% a year, volatility 40.9%TRP: 10.8% a year, volatility 21.9%ENB: 9.1% a year, volatility 18.9%HESM: 10.9% a year, volatility 27.0%OKESPY (S&P 500)PAAMPLXWMBKMIWESEPDAMDVNGELPSXTRGPLNGBKREQTENBHESM
All figures
InvestmentAnnual returnVolatility
TRGP Targa Resources Corp.+41.8%31.7%
PSX Phillips 66+33.2%32.9%
PAA Plains All American Pipeline, L.P.+27.0%25.6%
WMB The Williams Companies, Inc.+24.6%24.0%
DTM DT Midstream, Inc.+24.5%25.2%
MPLX MPLX Lp+23.5%18.8%
WES Western Midstream Partners, LP+23.5%27.6%
LNG Cheniere Energy, Inc.+23.4%30.2%
EQT EQT Corporation+22.4%40.9%
AM Antero Midstream Corporation+20.1%25.9%
BKR Baker Hughes Company+19.8%34.6%
KMI Kinder Morgan, Inc.+18.7%22.5%
EPD Enterprise Products Partners L.P.+16.4%17.1%
OKE This pageONEOK, Inc.+13.3%28.0%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
HESM Hess Midstream LP+10.9%27.0%
TRP TC Energy Corporation+10.8%21.9%
GEL Genesis Energy, L.P.+10.6%39.4%
DVN Devon Energy Corporation+9.3%39.9%
ENB Enbridge Inc.+9.1%18.9%
Open these 20 in EasyCompare

Has OKE consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than OKE 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
OKE ONEOK, Inc. (this page)—+1.1%+0.4%+13.5%+29.6%+42.8%+59.9%+86.8%+233%28.0%0.59−80.2%—$59B—
PSX QualifiedPhillips 665/5 short3/3 longAll-weather+11.2%+40.1%+89.2%+128%+130%+183%+319%+430%32.9%1.04−64.2%—$117B—
TRGP QualifiedTarga Resources Corp.4/5 short3/3 longAll-weather+1.1%+4.1%+27.6%+59.0%+98.1%+260%+473%+829%31.7%1.27−90.8%—$63B—
LNG QualifiedCheniere Energy, Inc.3/5 short3/3 long+3.0%+7.2%+12.8%+44.3%+29.3%+69.8%+186%+616%30.2%0.85−57.5%—$59B—
PAA QualifiedPlains All American Pipeline, L.P.5/5 short2/3 long+2.0%+6.7%+26.0%+48.2%+70.2%+105%+230%+64.0%25.6%1.06−87.9%—$18B—
MPLX Oil & Gas MidstreamMPLX Lp1/5 short3/3 long−1.2%+4.1%+8.8%+14.7%+27.2%+105%+187%+350%18.8%1.22−75.2%—$59B—
BKR Oil & Gas Equipment & ServicesBaker Hughes Company1/5 short3/3 long−3.8%+1.3%−5.3%+19.3%+22.1%+70.1%+146%+248%34.6%0.70−73.5%—$55B—
WMB Oil & Gas MidstreamThe Williams Companies, Inc.0/5 short3/3 long−1.8%−4.5%+0.6%+18.1%+14.9%+125%+200%+288%24.0%1.04−68.1%—$86B—
KMI Oil & Gas MidstreamKinder Morgan, Inc.2/5 short2/3 long+5.8%+4.0%+7.1%+24.6%+26.9%+129%+136%+163%22.5%0.88−55.1%—$75B—
WES Oil & Gas MidstreamWestern Midstream Partners, LP1/5 short2/3 long−4.4%−2.6%+14.1%+19.4%+27.6%+110%+187%+128%27.6%0.91−91.9%—$18B—
EPD Oil & Gas MidstreamEnterprise Products Partners L.P.0/5 short2/3 long−3.9%−3.2%+3.2%+20.3%+28.4%+65.2%+113%+178%17.1%0.98−58.1%—$80B—
AM Oil & Gas MidstreamAntero Midstream Corporation0/5 short2/3 long−2.2%−8.0%+0.5%+18.4%+17.2%+95.0%+149%—25.9%0.84−92.9%—$9.8B—
DTM Oil & Gas MidstreamDT Midstream, Inc.0/5 short2/3 long−2.1%−14.2%−6.1%+3.2%+14.4%+147%+199%—25.2%1.00−23.6%—$12B—
EQT Oil & Gas Exploration & ProductionEQT Corporation2/5 short1/3 long+9.4%+12.1%−3.3%+3.4%−1.8%+35.0%+175%+69.1%40.9%0.70−87.5%—$34B—
TRP Oil & Gas MidstreamTC Energy Corporation1/5 short1/3 long+3.3%−8.8%+3.6%+13.8%+24.9%+136%+66.7%+160%21.9%0.58−41.6%—$64B—
ENB Oil & Gas MidstreamEnbridge Inc.0/5 short1/3 long−0.6%−12.9%−4.6%+5.0%+8.5%+84.0%+54.3%+103%18.9%0.56−44.1%—$107B—
DVN Oil & Gas Exploration & ProductionDevon Energy Corporation4/5 short0/3 long+5.9%+15.8%+13.6%+35.6%+61.8%+15.0%+56.0%+69.6%39.9%0.42−88.5%—$55B—
GEL Oil & Gas MidstreamGenesis Energy, L.P.0/5 short0/3 long−6.2%−2.8%−13.4%−8.1%−4.9%+44.2%+65.5%−21.8%39.4%0.45−89.3%—$1.7B—
HESM Oil & Gas MidstreamHess Midstream LP0/5 short0/3 long−22.5%−22.2%−13.6%−5.8%+0.8%+27.1%+67.9%—27.0%0.52−75.2%—$6.3B—
Open these 19 in EasyCompare

How did OKE do year by year?

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

InvestmentYears ahead of OKE20252024202320222021202020192018201720162015201420132012201120102009200820072006200520042003200220012000199919981997
OKE This pageONEOK, Inc.—−22.9%+50.1%+13.2%+18.9%+64.7%−43.5%+47.8%+6.3%−2.1%+150%−47.4%−5.3%+49.6%+1.5%+61.2%+29.3%+61.2%−32.4%+6.9%+67.9%−2.8%+33.5%+19.0%+11.7%−23.6%+100%−27.7%−7.3%+39.3%
Rank among alternativesTop quarter in 8 of 2919 of 195 of 1913 of 1914 of 197 of 1816 of 182 of 182 of 188 of 161 of 1613 of 1614 of 165 of 1611 of 131 of 125 of 114 of 116 of 1111 of 112 of 1111 of 117 of 1110 of 115 of 118 of 113 of 118 of 114 of 93 of 9
SPY S&P 500State Street SPDR S&P 500 ETF12 of 29+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%+31.2%−4.6%+21.7%+12.0%+1.2%+13.5%+32.3%+16.0%+1.9%+15.1%+26.4%−36.8%+5.1%+15.9%+4.8%+10.7%+28.2%−21.6%−11.7%−9.8%+20.4%+28.7%+33.5%
PSX Phillips 667 of 13+17.5%−11.6%+33.1%+49.6%+8.4%−33.9%+34.0%−12.3%+20.9%+9.0%+17.1%−4.7%+48.3%————————————————
TRGP Targa Resources Corp.9 of 15+5.7%+110%+21.0%+43.7%+100%−32.5%+24.0%−19.9%−7.1%+131%−73.4%+23.2%+72.0%+34.2%+56.2%——————————————
LNG Cheniere Energy, Inc.16 of 29−8.7%+27.2%+15.0%+49.3%+69.5%−1.7%+3.2%+9.9%+29.9%+11.2%−47.1%+63.3%+130%+116%+57.5%+128%−15.1%−91.3%+13.0%−22.4%+16.9%+444%+815%+28.0%−58.6%−16.1%−27.9%−51.5%−48.1%
PAA Plains All American Pipeline, L.P.12 of 27+14.3%+21.4%+39.2%+35.9%+22.4%−50.8%−2.4%+2.3%−31.3%+55.6%−51.9%+3.9%+19.5%+29.4%+24.4%+26.5%+65.4%−28.1%+7.8%+37.8%+11.4%+24.6%+44.0%+2.2%+47.7%+62.1%−16.8%——
MPLX MPLX Lp7 of 13+20.6%+41.7%+22.5%+21.1%+54.0%−1.8%−8.2%−8.4%+8.9%−6.3%−44.8%+69.0%+46.9%————————————————
BKR Baker Hughes Company13 of 29+13.4%+23.2%+18.6%+26.0%+19.0%−15.2%+23.0%−30.4%+25.1%+43.7%−16.3%+3.0%+37.8%−14.4%−13.9%+43.8%+29.0%−59.9%+9.6%+24.0%+44.3%+35.2%+2.0%−9.8%−10.7%+102%+22.7%−58.8%+28.7%
WMB The Williams Companies, Inc.15 of 29+14.9%+62.4%+11.8%+32.9%+38.4%−8.2%+14.2%−23.9%+2.0%+31.2%−39.2%+21.3%+22.8%+29.9%+37.3%+20.2%+49.6%−58.8%+38.8%+14.3%+49.2%+106%+457%−75.2%−31.0%+32.3%−0.5%+11.4%+54.4%
KMI Kinder Morgan, Inc.6 of 14+4.7%+64.4%+4.2%+21.2%+23.8%−30.8%+44.4%−11.1%−11.1%+42.7%−62.8%+23.2%+6.3%+13.0%———————————————
WES Western Midstream Partners, LP7 of 13+12.8%+43.6%+19.5%+29.2%+72.2%−19.2%−22.7%−20.3%−8.0%+22.3%−38.1%+55.5%+34.2%————————————————
EPD Enterprise Products Partners L.P.15 of 27+9.4%+28.0%+17.7%+18.3%+21.4%−23.6%+21.9%−1.4%+4.3%+12.5%−25.5%+13.3%+38.5%+12.0%+17.7%+41.3%+64.3%−30.1%+17.3%+29.3%−1.3%+12.6%+35.7%−11.8%+59.7%+86.1%+36.8%——
AM Antero Midstream Corporation4 of 8+24.4%+28.4%+25.8%+21.9%+39.5%+27.6%−24.5%−41.8%—————————————————————
DTM DT Midstream, Inc.3 of 4+24.1%+89.0%+4.7%+20.7%—————————————————————————
EQT EQT Corporation15 of 29+17.6%+21.4%+16.2%+57.6%+71.6%+17.3%−41.9%−38.7%−12.8%+25.7%−31.1%−15.6%+52.5%+9.4%+24.2%+4.3%+34.0%−35.9%+29.9%+16.4%+24.0%+45.4%+25.5%+5.0%+3.7%+105%+19.0%−14.3%+23.8%
TRP TC Energy Corporation13 of 29+24.0%+39.9%+6.1%−8.8%+21.7%−18.7%+57.0%−22.2%+12.9%+46.1%−29.0%+12.3%+1.0%+13.2%+20.0%+16.2%+34.2%−30.6%+21.9%+16.2%+32.9%+21.2%+55.8%+21.9%+14.8%+41.4%−36.3%−16.2%+35.6%
ENB Enbridge Inc.13 of 29+19.5%+26.3%−1.1%+6.5%+30.9%−13.6%+36.0%−15.5%−3.7%+32.4%−33.3%+21.0%+3.7%+19.2%+37.0%+26.2%+47.3%−17.0%+21.4%+13.5%+29.5%+24.8%+57.5%+3.1%−1.3%+48.7%−8.9%+7.6%+66.2%
DVN Devon Energy Corporation12 of 29+15.0%−25.2%−21.8%+50.9%+196%−35.2%+16.7%−45.1%−8.8%+45.0%−46.6%+0.4%+20.7%−15.0%−20.3%+7.8%+13.1%−25.6%+33.5%+8.1%+61.6%+36.7%+25.4%+19.3%−36.4%+86.3%+7.8%−19.8%+11.3%
GEL Genesis Energy, L.P.16 of 29+61.8%−8.4%+19.9%+1.1%+85.2%−66.2%+22.6%−9.2%−32.3%+6.3%−8.4%−15.8%+53.7%+35.2%+13.0%+49.8%+140%−60.3%+24.9%+76.2%−2.0%+35.8%+108%+28.6%+24.4%−38.6%−35.7%−1.8%−10.0%
HESM Hess Midstream LP3 of 8+0.5%+26.4%+14.3%+16.6%+53.0%−5.2%+43.9%−8.6%—————————————————————
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Risk and diversification

How OKE 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 OKE's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents OKE's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

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

DuringOKE fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Covid crash−80.2%−28.8%Feb 2020Mar 20201 monthFeb 202223 months
No named crash−75.1%—Apr 1987Apr 198812 monthsDec 19913.7 years
2015 China and oil sell-off−71.4%+2.8%Sep 2014Dec 201515 monthsJan 20182.1 years
2008 financial crisis−64.6%−54.1%Jul 2007Mar 200920 monthsApr 201013 months
No named crash−45.7%+24.2%Mar 1998Feb 200023 monthsSep 20007 months

How did OKE do in stock market crashes?

This section measures how far OKE, 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 OKE.

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
OKE This pageONEOK, Inc.—−5.1%−29.2%−80.2%−25.5%−5.9%−51.3%−21.0%−0.8%−63.1%−42.0%
SPY S&P 500State Street SPDR S&P 500 ETF7 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
PSX Phillips 663 of 6−5.6%−32.0%−53.3%−33.2%−4.7%−21.1%————
TRGP Targa Resources Corp.1 of 7−5.6%−30.0%−88.0%−40.6%−5.1%−79.1%−22.8%———
LNG Cheniere Energy, Inc.6 of 10−1.3%−17.8%−46.1%−21.3%−5.1%−66.5%−62.4%0.0%−97.7%−84.4%
PAA Plains All American Pipeline, L.P.7 of 10−6.4%−19.9%−79.8%−22.3%−2.0%−55.5%−10.1%0.0%−49.3%−23.1%
MPLX MPLX Lp5 of 6−1.2%−18.4%−64.6%−17.9%−4.5%−66.8%————
BKR Baker Hughes Company2 of 10−10.5%−46.5%−55.2%−39.0%−14.6%−33.1%−44.2%−3.4%−73.2%−47.8%
WMB The Williams Companies, Inc.3 of 10−3.4%−23.0%−57.0%−25.4%−7.0%−78.9%−26.7%−3.4%−75.3%−98.0%
KMI Kinder Morgan, Inc.6 of 7−3.2%−20.3%−55.1%−19.8%−4.0%−64.4%−16.2%———
WES Western Midstream Partners, LP4 of 6−2.5%−23.5%−77.4%−17.6%−6.5%−63.0%————
EPD Enterprise Products Partners L.P.10 of 10−2.4%−18.0%−53.2%−18.6%−4.1%−31.3%−13.0%0.0%−44.4%−34.6%
AM Antero Midstream Corporation3 of 5−2.7%−21.9%−60.8%−43.1%−7.0%—————
DTM DT Midstream, Inc.2 of 2−3.7%−19.9%————————
EQT EQT Corporation3 of 10−5.9%−36.4%−36.4%−36.6%−11.9%−39.3%−24.4%−2.1%−69.3%−31.6%
TRP TC Energy Corporation8 of 10−4.0%−30.7%−41.6%−15.3%−5.2%−18.5%−12.8%−0.6%−45.4%−13.7%
ENB Enbridge Inc.10 of 10−1.5%−23.9%−43.4%−13.8%−3.2%−34.6%−13.2%0.0%−40.9%−21.0%
DVN Devon Energy Corporation1 of 10−8.3%−33.6%−75.9%−49.4%−13.4%−55.2%−36.6%−2.3%−68.6%−52.9%
GEL Genesis Energy, L.P.3 of 10−2.3%−38.8%−80.1%−27.5%−9.0%−52.3%−18.0%0.0%−70.1%−72.7%
HESM Hess Midstream LP2 of 5−3.9%−28.7%−70.8%−28.9%−8.0%—————
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How closely does OKE 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 OKE 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 OKE's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
OKE This pageONEOK, Inc.103%126%0.821.38
LNG Cheniere Energy, Inc.79%30%2.650.77
MPLX MPLX Lp87%76%1.141.16
WMB The Williams Companies, Inc.85%78%1.081.02
TRGP Targa Resources Corp.156%157%0.991.85
PSX Phillips 66116%122%0.951.16
TRP TC Energy Corporation67%73%0.920.72
EPD Enterprise Products Partners L.P.81%94%0.860.93
KMI Kinder Morgan, Inc.68%82%0.830.82
ENB Enbridge Inc.60%74%0.820.73
BKR Baker Hughes Company127%160%0.791.37
WES Western Midstream Partners, LP121%175%0.692.23
PAA Plains All American Pipeline, L.P.81%127%0.641.36
EQT EQT Corporation62%101%0.610.90
DVN Devon Energy Corporation118%199%0.591.80
GEL Genesis Energy, L.P.81%176%0.461.65
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What diversifies OKE?

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

ETFs

InvestmentCorrelation5Y returnSharpe202520202017201520142008200520011999199880/20 mix volatility80/20 mix annual return
OKE ONEOK, Inc. (this page)1.00+86.8%0.59−22.9%−43.5%−2.1%−47.4%−5.3%−32.4%−2.8%−23.6%−27.7%−7.3%27.5%+14.0%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.24+225%1.34+32.8%+3.9%+22.8%+7.7%+8.1%−20.8%————22.8%+17.2%
SMH TechnologyVanEck Semiconductor ETF0.13+323%0.97+49.2%+55.5%+38.5%−0.3%+30.2%−44.7%+10.8%−14.6%——24.0%+19.9%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.42+85.0%0.96+23.1%+2.1%+16.7%+4.1%+3.4%—————23.1%+14.5%
GLD CommoditiesSPDR Gold Shares0.11+126%0.96+63.7%+24.8%+12.8%−10.7%−2.2%+4.9%+17.8%———22.7%+15.7%
SPMO Broad MarketInvesco S&P 500 Momentum ETF0.34+136%0.93+26.6%+28.2%+27.8%———————23.7%+16.2%
VLUE Broad MarketiShares MSCI USA Value Factor ETF0.42+109%0.90+32.7%−0.2%+21.9%−4.1%+12.8%—————24.0%+15.3%
EWT TechnologyiShares MSCI Taiwan ETF0.18+153%0.89+28.4%+31.5%+26.9%−12.9%+7.0%−45.3%+4.7%+2.1%——23.5%+16.6%
EUFN InternationaliShares MSCI Europe Financials ETF0.42+133%0.89+65.8%−8.5%+27.0%−4.7%−9.7%—————24.0%+16.0%

Stocks

InvestmentCorrelation5Y returnSharpe202520202017201520142008200520011999199880/20 mix volatility80/20 mix annual return
OKE ONEOK, Inc. (this page)1.00+86.8%0.59−22.9%−43.5%−2.1%−47.4%−5.3%−32.4%−2.8%−23.6%−27.7%−7.3%27.5%+14.0%
CAH Medical - DistributionCardinal Health, Inc.0.31+479%1.55+76.3%+10.1%−12.7%+12.6%+23.0%−39.6%+18.7%−2.5%−36.8%+51.7%24.2%+19.4%
CLS Hardware, Equipment & PartsCelestica Inc.0.13+3,143%1.47+220%−2.4%−11.6%−6.0%+12.9%−20.5%−25.2%−25.6%+350%—26.3%+32.6%
FIX Engineering & ConstructionComfort Systems USA, Inc.0.27+1,636%1.46+121%+6.7%+32.1%+67.7%−10.4%−15.2%+20.1%+73.7%−58.7%−9.5%25.9%+28.2%
MCK Medical - DistributionMcKesson Corporation0.30+413%1.44+44.5%+27.1%+12.0%−4.5%+29.3%−40.4%+64.9%+4.9%−71.3%+46.9%24.0%+18.8%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.49+690%1.41+19.2%−27.4%+34.8%+17.4%+0.4%—————25.8%+21.1%
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Common questions

What was OKE's worst drawdown?

OKE's deepest decline since it began trading in 1986 was 80.2%, from February to March 2020. It took 23 months from the low to climb back to its old high.

What were OKE's best and worst years?

Over 29 full calendar years, OKE's best year was 2016, when it returned 150%. Its worst was 2015, with a return of -47.4%.

Is there a better investment than OKE?

Among OKE's popular alternatives, PAA, WMB and EPD earned more than OKE with less volatility over the past 5 years. PAA returned 27.0% a year at 25.6% volatility, against 13.3% a year at 28.0%. Looking beyond its popular alternatives, SHEL (integrated oil & gas) and XOM (integrated oil & gas) earned more than OKE with less volatility over the past 5 years. SHEL returned 21.0% a year at 24.8% volatility, against 13.3% a year at 28.0%.

Is OKE more volatile than the S&P 500?

Yes. OKE's volatility over the past 5 years was 28.0%, 1.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, OKE's return lands within 28.0% 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 OKE's Sharpe ratio?

OKE's Sharpe ratio over the past 5 years was 0.59, against 0.79 for the S&P 500, so OKE 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 OKE with the S&P 500?

Over the past 5 years, OKE's monthly returns had a correlation of 0.47 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 OKE instead: the lower it is, the more that option would diversify a OKE holding.

What are the best alternatives to OKE?

Of the 18 popular alternatives we compared, four outperformed OKE in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: PSX, TRGP and LNG.

Did OKE outperform the S&P 500?

OKE finished ahead of the S&P 500 (SPY) in 17 of 29 full calendar years. In 2025, it returned -22.9%, against +17.7% for the index.

How did OKE do in stock market crashes?

OKE fell less than the S&P 500 (SPY) in three of the ten major crashes it has traded through, and further in seven. The clearest case was the Covid crash, when OKE fell 80.2% and the S&P 500 fell 33.7%.

What diversifies OKE?

These had a low correlation with OKE over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.24), SMH (correlation 0.13) and DBEF (correlation 0.42); among large stocks, CAH (correlation 0.31), CLS (correlation 0.13) and FIX (correlation 0.27). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to OKE

Other stocks and ETFs