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Relative Intelligence · Engineering & Construction

How Quanta Services (PWR) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on PWR alone. It places PWR (Quanta Services, Inc.) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where PWR stands in the market, and of the alternatives worth a closer look.

Period covered: PWR's full trading record, from February 1998 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 PWR →Chart PWR vs. 22 alternatives →
On this page12 sections

Key findings

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

This chart tracks a hypothetical $10,000 investment in PWR over the past 28 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of PWR over the same span and PWR'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 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. 76 of the 1,106 stocks and funds worth at least $500 million that traded the whole period ended ahead of PWR; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$100$1,000$10,000$100,000$1M$10M199820032008201320182023$100$1,000$10,000$100,000$1M$10M19982005201220192026
  • AAPL$12M+116,713% total · +28.7% a year
  • STRL$11M+112,564% total · +28.5% a year
  • AMZN$3M+26,684% total · +22.1% a year
  • EME$2M+21,022% total · +21.1% a year
  • FIX$1M+10,141% total · +18.0% a year
  • PWR$797,952+7,880% total · +16.9% a year
  • TTEK$126,244+1,162% total · +9.5% a year
  • TPC$124,657+1,147% total · +9.4% a year
  • SPY (S&P 500)$121,630+1,116% total · +9.3% a year
  • IESC$25,258+153% total · +3.4% a year
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From the end of September 2021 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 90 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of PWR; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$10,000$20,000$50,000$100,000$200,000202120222023202420252026$10,000$20,000$50,000$100,000$200,000202120222023202420252026
  • FIX$236,701+2,267% total · +88.3% a year
  • STRL$216,918+2,069% total · +85.0% a year
  • IESC$140,577+1,306% total · +69.7% a year
  • NVDA$110,811+1,008% total · +61.8% a year
  • HWM$73,554+636% total · +49.0% a year
  • MPC$71,516+615% total · +48.2% a year
  • PBR-A$67,821+578% total · +46.6% a year
  • EME$66,450+565% total · +46.0% a year
  • PWR$56,870+469% total · +41.6% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
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PWR 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
$90B
Industry
Engineering & Construction
Price history from
February 1998

Returns

Past 1 year
+35.3%total return
Past 3 years
+263%+53.7% a year
Past 5 years
+425%+39.3% a year
Past 10 years
+2,045%+35.9% a year
Best calendar year
+109%2003
Worst calendar year
−77.3%2002
Losing years
7 of 27full calendar years

Risk

Volatility
37.2%typical yearly swing, 5 years
Sharpe ratio
1.08return per unit of risk, 5 years
Worst decline ever
−97.1%Jun 2000 to Oct 2002
From its all-time high
−24.1%below the peak

PWR against the whole market

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

How does PWR rank among all stocks?

This section ranks PWR 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 PWR 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.

MeasurePWRRankStanding
1-year return+35.3%842 of 3,287top 26%
3-year return+263%276 of 3,017top 9%
5-year return+425%89 of 2,893top 3%
10-year return+2,045%37 of 2,202top 2%
Volatility, 5 years37.2%1,280 of 2,893top 44%
Sharpe ratio, 5 years1.0857 of 2,893top 2%
Worst decline, past 10 years−45.5%307 of 2,187top 14%

What has beaten PWR 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). PWR sits where the dashed lines cross. Anything in the green box above and to the left earned more than PWR 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 PWR; faint dots are 1 more of the 6 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.

15.0%20.0%25.0%30.0%35.0%40.0%45.0%50.0%55.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than PWRTRGP: +41.8% a year, volatility 31.7%PWR: +39.3% a year, volatility 37.2%SPY (S&P 500): +12.7% a year, volatility 17.1%EME: +43.0% a year, volatility 35.3%LLY: +40.7% a year, volatility 32.8%MPC: +51.2% a year, volatility 33.4%HWM: +47.3% a year, volatility 32.5%MCK: +38.7% a year, volatility 25.0%NVDA: +58.0% a year, volatility 51.9%PBR-A: +51.8% a year, volatility 37.5%CAH: +42.1% a year, volatility 24.7%PWRSPY (S&P 500)EMELLYMPCHWMMCKNVDAPBR-ACAH10.0%20.0%30.0%40.0%50.0%60.0%10.0%20.0%30.0%40.0%50.0%60.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than PWRTRGP: +41.8% a year, volatility 31.7%PWR: +39.3% a year, volatility 37.2%SPY (S&P 500): +12.7% a year, volatility 17.1%EME: +43.0% a year, volatility 35.3%LLY: +40.7% a year, volatility 32.8%MPC: +51.2% a year, volatility 33.4%HWM: +47.3% a year, volatility 32.5%MCK: +38.7% a year, volatility 25.0%NVDA: +58.0% a year, volatility 51.9%PBR-A: +51.8% a year, volatility 37.5%CAH: +42.1% a year, volatility 24.7%PWRSPY (S&P 500)EMELLYMPCHWMMCKNVDAPBR-ACAH
  • Popular alternatives
  • The whole market
  • Others in the green region

Is there a better investment than PWR?

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

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

Screen the whole market against PWR for any period in BetterThanSPYOpen these 8 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 PWR?lower diversifies moreExpenseper year
PWRQuanta Services, Inc. · this page
+39.3%37.2%1.08−45.5%+2,045%1.00—
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.7%17.1%0.79−33.7%+321%0.580.09%
Popular alternativesbest 1 shownThe investments people most often weigh against PWR. 1 of 21 passed at least one test.
EMEEMCOR Group, Inc. · Engineering & Construction
Higher return, lower volatility+43.0%35.3%1.20−48.0%+1,202%0.69—
The whole marketbest 6 shownEvery other stock and fund worth at least $500 million. 21 of 3,533 passed at least one test.
LLYEli Lilly and Company · Pharmaceuticals
Higher return, lower volatilityHigher Sharpe, smaller worst decline+40.7%32.8%1.21−34.5%+1,807%0.07—
MPCMarathon Petroleum Corporation · Oil & Gas
On the frontierHigher return, lower volatility+51.2%33.4%1.41−79.7%+1,387%0.10—
HWMHowmet Aerospace Inc. · Aerospace & Defense
On the frontierHigher return, lower volatility+47.3%32.5%1.36−68.9%+1,028%0.51—
MCKMcKesson Corporation · Health Care Distribution
Similar return, lower volatilityHigher Sharpe, smaller worst decline+38.7%25.0%1.44−38.1%+586%0.17—
NVDANVIDIA Corporation · Semiconductors
Higher return in most periods+58.0%51.9%1.14−66.3%+13,019%0.40—
PBR-APetróleo Brasileiro S.A. - Petrobras · Integrated Oil & Gas
On the frontierHigher return, similar volatility+51.8%37.5%1.31−71.7%+768%0.11—
What these numbers mean for PWR
Annual return
PWR returned 39.3% 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 $52,500. 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
PWR's volatility over the past 5 years was 37.2%, 2.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, PWR's return lands within 37.2% 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
PWR's Sharpe ratio over the past 5 years was 1.08, against 0.79 for the S&P 500, so PWR earned more 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
PWR's worst fall from a peak to a low over the past 10 years was 45.5%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 45.5% fall takes a 83.6% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, PWR's monthly returns had a correlation of 0.58 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 PWR instead: the lower it is, the more that option would diversify a PWR holding. Guide: Correlation and diversification →
Show all 6 stocks and funds worth at least $500 million that earned more than PWR with less volatility

Out of 3,633 tested over 5 years. Best first; funds that hold the same thing are listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline10Y returnCorr. with PWRExpense
1
LLYEli Lilly and Company · Pharmaceuticals
Whole market+40.7%32.8%1.21−34.5%+1,807%0.07—
2
MPCMarathon Petroleum Corporation · Oil & Gas
Whole market+51.2%33.4%1.41−79.7%+1,387%0.10—
3
HWMHowmet Aerospace Inc. · Aerospace & Defense
Whole market+47.3%32.5%1.36−68.9%+1,028%0.51—
4
CAHCardinal Health, Inc. · Health Care Distribution
Whole market+42.1%24.7%1.55−46.1%+349%0.18—
5
TRGPTarga Resources Corp. · Oil & Gas Midstream
Whole market+41.8%31.7%1.27−90.8%+829%0.26—
6
EMEEMCOR Group, Inc. · Engineering & Construction
Popular alternative+43.0%35.3%1.20−48.0%+1,202%0.69—

PWR against its popular alternatives

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

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

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

10.0%20.0%30.0%40.0%50.0%60.0%70.0%−20.0%0.0%20.0%40.0%60.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityPWR: 39.3% a year, volatility 37.2%SPY (S&P 500): 12.7% a year, volatility 17.1%EME: 43.0% a year, volatility 35.3%MYRG: 21.6% a year, volatility 42.9%PRIM: 22.4% a year, volatility 50.3%MTZ: 16.5% a year, volatility 45.5%DY: 27.0% a year, volatility 44.5%FLR: 19.8% a year, volatility 45.6%FIX: 77.0% a year, volatility 46.7%STRL: 78.4% a year, volatility 60.0%IESC: 58.5% a year, volatility 58.0%TPC: 42.5% a year, volatility 56.0%VRT: 54.2% a year, volatility 64.2%TTEK: 2.2% a year, volatility 32.3%J: 5.3% a year, volatility 26.2%KBR: −1.8% a year, volatility 29.2%HUBB: 21.0% a year, volatility 30.0%STN: 7.5% a year, volatility 25.7%DUK: 7.5% a year, volatility 18.0%APG: 23.0% a year, volatility 31.9%ETN: 20.4% a year, volatility 32.1%GVA: 23.8% a year, volatility 30.6%ACM: −1.0% a year, volatility 27.7%PWRSPY (S&P 500)EMEMYRGPRIMMTZDYFIXSTRLIESCTPCVRTTTEKJKBRHUBBSTNDUKGVAACM10.0%20.0%30.0%40.0%50.0%60.0%70.0%−20.0%0.0%20.0%40.0%60.0%80.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityPWR: 39.3% a year, volatility 37.2%SPY (S&P 500): 12.7% a year, volatility 17.1%EME: 43.0% a year, volatility 35.3%MYRG: 21.6% a year, volatility 42.9%PRIM: 22.4% a year, volatility 50.3%MTZ: 16.5% a year, volatility 45.5%DY: 27.0% a year, volatility 44.5%FLR: 19.8% a year, volatility 45.6%FIX: 77.0% a year, volatility 46.7%STRL: 78.4% a year, volatility 60.0%IESC: 58.5% a year, volatility 58.0%TPC: 42.5% a year, volatility 56.0%VRT: 54.2% a year, volatility 64.2%TTEK: 2.2% a year, volatility 32.3%J: 5.3% a year, volatility 26.2%KBR: −1.8% a year, volatility 29.2%HUBB: 21.0% a year, volatility 30.0%STN: 7.5% a year, volatility 25.7%DUK: 7.5% a year, volatility 18.0%APG: 23.0% a year, volatility 31.9%ETN: 20.4% a year, volatility 32.1%GVA: 23.8% a year, volatility 30.6%ACM: −1.0% a year, volatility 27.7%PWRSPY (S&P 500)EMEMYRGPRIMMTZDYFLRFIXSTRLIESCTPCVRTTTEKJKBRHUBBSTNDUKAPGACM
All figures
InvestmentAnnual returnVolatility
STRL Sterling Infrastructure, Inc.+78.4%60.0%
FIX Comfort Systems USA, Inc.+77.0%46.7%
IESC IES Holdings, Inc.+58.5%58.0%
VRT Vertiv Holdings Co+54.2%64.2%
EME EMCOR Group, Inc.+43.0%35.3%
TPC Tutor Perini Corporation+42.5%56.0%
PWR This pageQuanta Services, Inc.+39.3%37.2%
DY Dycom Industries, Inc.+27.0%44.5%
GVA Granite Construction Incorporated+23.8%30.6%
APG APi Group Corporation+23.0%31.9%
PRIM Primoris Services Corporation+22.4%50.3%
MYRG MYR Group Inc.+21.6%42.9%
HUBB Hubbell Incorporated+21.0%30.0%
ETN Eaton Corporation plc+20.4%32.1%
FLR Fluor Corporation+19.8%45.6%
MTZ MasTec, Inc.+16.5%45.5%
SPY S&P 500State Street SPDR S&P 500 ETF+12.7%17.1%
DUK Duke Energy Corporation+7.5%18.0%
STN Stantec Inc.+7.5%25.7%
J Jacobs Solutions Inc.+5.3%26.2%
TTEK Tetra Tech, Inc.+2.2%32.3%
ACM Aecom−1.0%27.7%
KBR KBR, Inc.−1.8%29.2%
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Has PWR consistently beaten its popular alternatives?

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

A green cell means the alternative earned more than PWR 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
PWR Quanta Services, Inc. (this page)—−7.2%−5.8%−1.5%+35.6%+35.3%+263%+425%+2,045%37.2%1.08−45.5%—$90B—
FIX Engineering & ConstructionComfort Systems USA, Inc.2/5 short3/3 long−14.4%−18.4%−16.8%+39.4%+67.3%+819%+1,636%+5,305%46.7%1.46−49.7%—$49B—
STRL Engineering & ConstructionSterling Infrastructure, Inc.0/5 short3/3 long−19.6%−36.6%−12.8%+29.2%+11.7%+489%+1,708%+5,213%60.0%1.26−59.6%—$13B—
IESC Engineering & ConstructionIES Holdings, Inc.0/5 short3/3 long−25.0%−22.3%−12.8%+18.6%+22.8%+692%+900%+2,943%58.0%1.09−54.3%—$9.7B—
TPC Engineering & ConstructionTutor Perini Corporation1/5 short2/3 long−9.4%−3.2%−7.5%+12.6%+16.5%+1,024%+488%+309%56.0%0.91−91.0%—$4.1B—
VRT Electrical Equipment & PartsVertiv Holdings Co0/5 short2/3 long−18.9%−30.2%−35.2%+16.0%+16.0%+456%+772%—64.2%1.01−71.3%—$78B—
EME Engineering & ConstructionEMCOR Group, Inc.0/5 short1/3 long−7.2%−5.5%−15.4%+10.2%+0.5%+267%+499%+1,202%35.3%1.20−48.0%—$31B—
TTEK Engineering & ConstructionTetra Tech, Inc.3/5 short0/3 long−2.8%+12.0%+10.7%+4.6%+5.6%+13.7%+11.6%+388%32.3%0.23−47.5%—$9.0B—
J Engineering & ConstructionJacobs Solutions Inc.3/5 short0/3 long−2.8%+8.1%+9.0%+4.0%−13.2%+31.1%+29.6%+266%26.2%0.33−39.3%—$16B—
KBR Engineering & ConstructionKBR, Inc.3/5 short0/3 long+3.1%+7.0%+2.0%−7.8%−13.9%−35.0%−8.9%+189%29.2%0.08−58.0%—$4.6B—
HUBB Electrical Equipment & PartsHubbell Incorporated2/5 short0/3 long+0.4%−5.0%−15.4%+0.1%+7.7%+70.6%+159%+442%30.0%0.79−41.6%—$24B—
STN Engineering & ConstructionStantec Inc.2/5 short0/3 long−2.2%+0.1%−24.5%−27.7%−37.8%+15.0%+43.7%+240%25.7%0.41−40.9%—$7.8B—
DUK Regulated ElectricDuke Energy Corporation2/5 short0/3 long+3.9%−2.7%−3.5%+6.0%−2.6%+56.1%+43.9%+132%18.0%0.50−37.4%—$95B—
APG Engineering & ConstructionAPi Group Corporation2/5 short0/3 long+6.8%+1.5%−17.9%+2.6%+14.8%+137%+182%—31.9%0.81−49.6%—$17B—
GEV Industrial - MachineryGE Vernova Inc.2/5 short0/3 long−5.9%−17.5%−10.0%+31.3%+50.1%—————−38.3%—$237B—
MYRG Engineering & ConstructionMYR Group Inc.1/5 short0/3 long−4.7%−29.6%−17.3%+21.2%+31.2%+116%+166%+828%42.9%0.67−61.5%—$4.3B—
ETN Electrical Equipment & PartsEaton Corporation plc1/5 short0/3 long−12.3%−4.6%−5.8%+17.7%+2.3%+104%+153%+657%32.1%0.74−44.5%—$148B—
PRIM Engineering & ConstructionPrimoris Services Corporation1/5 short0/3 long−6.1%−16.6%−56.1%−44.6%−48.0%+142%+174%+297%50.3%0.68−65.7%—$3.9B—
GVA Engineering & ConstructionGranite Construction Incorporated1/5 short0/3 long−5.7%−10.2%−11.6%−7.4%+4.1%+216%+191%+186%30.6%0.85−84.7%—$4.8B—
ACM Engineering & ConstructionAecom1/5 short0/3 long−5.8%−12.7%−31.1%−37.8%−55.1%−21.6%−4.7%+128%27.7%0.10−56.1%—$7.6B—
MTZ Engineering & ConstructionMasTec, Inc.0/5 short0/3 long−16.0%−44.3%−49.6%−17.7%−8.7%+206%+114%+542%45.5%0.57−67.9%—$15B—
DY Engineering & ConstructionDycom Industries, Inc.0/5 short0/3 long−13.6%−38.6%−38.6%−27.5%−15.0%+198%+230%+197%44.5%0.76−89.0%—$7.6B—
FLR Engineering & ConstructionFluor Corporation0/5 short0/3 long−17.5%−8.7%−6.1%+8.3%−5.6%+30.2%+147%−0.9%45.6%0.63−94.2%—$6.0B—
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How did PWR do year by year?

This table shows each investment's total return in every full calendar year since 1999, along with where PWR ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with PWR 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 PWR; gray means the two finished within a fraction of a point. The rank row places PWR among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of PWR202520242023202220212020201920182017201620152014201320122011201020092008200720062005200420032002200120001999
PWR This pageQuanta Services, Inc.—+33.7%+46.6%+51.7%+24.6%+59.5%+77.8%+35.8%−22.9%+12.2%+72.1%−28.7%−10.1%+15.7%+26.7%+8.1%−4.4%+5.3%−24.6%+33.5%+49.3%+64.7%+9.5%+109%−77.3%−52.1%+71.0%+28.0%
Rank among alternativesTop quarter in 9 of 2713 of 2311 of 2210 of 223 of 224 of 223 of 2110 of 2111 of 2015 of 204 of 2019 of 2012 of 2015 of 208 of 206 of 2016 of 2012 of 209 of 196 of 183 of 162 of 1510 of 154 of 1515 of 1513 of 153 of 142 of 14
SPY S&P 500State Street SPDR S&P 500 ETF10 of 27+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%
FIX Comfort Systems USA, Inc.14 of 27+121%+107%+79.6%+17.0%+89.0%+6.7%+15.1%+0.8%+32.1%+18.3%+67.7%−10.4%+61.7%+15.7%−17.0%+8.7%+17.8%−15.2%+2.1%+38.9%+20.1%+40.0%+63.6%−9.4%+73.7%−71.1%−58.7%
STRL Sterling Infrastructure, Inc.12 of 27+81.8%+91.6%+168%+24.7%+41.3%+32.2%+29.3%−33.1%+92.4%+39.1%−4.9%−45.5%+18.0%−7.7%−17.4%−31.9%+3.3%−15.1%+0.3%+29.3%+224%+14.6%+159%+4.2%+41.2%−9.2%−12.7%
IESC IES Holdings, Inc.13 of 27+93.6%+154%+123%−29.7%+10.0%+79.4%+64.9%−9.8%−9.8%+72.7%+44.6%+41.9%+20.0%+143%−47.4%−39.9%−33.1%−53.4%+5.6%+89.4%−88.6%−47.7%+140%−24.8%−13.8%−41.0%−54.8%
TPC Tutor Perini Corporation9 of 27+177%+166%+20.6%−39.0%−4.4%+0.7%−19.5%−37.0%−9.5%+67.3%−30.5%−8.5%+92.0%+11.0%−42.4%+23.7%−22.7%−43.6%+34.6%+27.4%+44.7%+82.4%+106%−36.5%+134%−22.7%−24.3%
VRT Vertiv Holdings Co3 of 7+42.8%+137%+252%−45.3%+33.8%+69.4%+12.5%————————————————————
EME EMCOR Group, Inc.14 of 27+35.0%+111%+46.0%+16.8%+39.9%+6.5%+45.2%−26.7%+16.1%+48.2%+8.8%+5.6%+23.2%+31.2%−7.3%+7.8%+19.9%−5.1%−16.9%+68.4%+49.5%+2.9%−17.2%+16.7%+77.9%+40.0%+13.2%
TTEK Tetra Tech, Inc.9 of 27−15.2%+20.0%+15.7%−14.0%+47.4%+35.4%+67.8%+8.3%+12.5%+67.6%−1.4%−3.9%+5.8%+22.4%−13.9%−7.7%+12.6%+12.3%+18.5%+15.8%−6.6%−32.6%+104%−38.8%−22.0%+108%−29.0%
J Jacobs Solutions Inc.9 of 27+1.1%+24.3%+9.2%−13.0%+28.7%+22.5%+55.2%−10.6%+17.0%+35.9%−6.1%−29.0%+47.9%+4.9%−11.5%+21.9%−21.8%−49.7%+134%+20.1%+42.1%−0.5%+34.9%+7.9%+42.8%+42.1%−20.2%
KBR KBR, Inc.7 of 19−29.7%+5.6%+5.9%+11.9%+55.6%+3.2%+104%−22.1%+21.3%+0.8%+1.6%−46.1%+7.6%+8.1%−8.0%+61.6%+26.5%−60.5%+48.3%————————
HUBB Hubbell Incorporated12 of 27+7.4%+28.9%+42.4%+15.1%+35.6%+8.9%+52.9%−24.6%+18.8%+18.4%−3.3%−0.2%+31.1%+29.3%+14.1%+30.9%+50.5%−34.4%+17.0%+3.2%−11.3%+22.1%+30.2%+24.5%+16.3%+2.7%−25.7%
STN Stantec Inc.9 of 20+21.1%−1.4%+68.8%−13.7%+75.1%+16.5%+31.8%−20.4%+12.3%+3.4%−8.4%−10.6%+56.8%+49.8%−2.6%−2.9%+16.7%−36.7%+79.4%+27.5%———————
DUK Duke Energy Corporation12 of 27+12.7%+15.6%−1.6%+2.0%+19.1%+4.8%+10.3%+7.4%+12.9%+13.4%−10.8%+26.3%+13.0%+1.3%+30.1%+9.5%+21.9%−21.6%+8.9%+26.2%+15.6%+30.2%+11.8%−48.2%−5.3%+76.0%−18.6%
APG APi Group Corporation2 of 5+59.6%+4.0%+84.0%−27.0%+42.0%——————————————————————
GEV GE Vernova Inc.1 of 1+99.0%——————————————————————————
MYRG MYR Group Inc.10 of 17+46.9%+2.9%+57.1%−16.7%+83.9%+84.4%+15.7%−21.2%−5.2%+82.8%−24.8%+9.3%+12.7%+16.3%−8.9%+16.2%+80.7%——————————
ETN Eaton Corporation plc13 of 27−2.8%+39.5%+56.2%−7.2%+46.7%+31.0%+42.8%−10.0%+21.5%+33.8%−20.7%−8.2%+44.2%+28.6%−11.8%+64.0%+33.3%−47.1%+31.6%+14.4%−5.4%+36.5%+41.1%+7.6%+40.8%+6.0%+5.3%
PRIM Primoris Services Corporation8 of 19+63.1%+131%+52.6%−7.5%−12.4%+25.8%+17.7%−29.0%+20.5%+4.5%−4.3%−24.9%+108%+1.6%+58.1%+21.4%+56.7%−30.8%+3.8%————————
GVA Granite Construction Incorporated9 of 27+32.2%+73.8%+46.8%−7.8%+46.8%−0.7%−30.3%−35.8%+16.4%+29.6%+14.5%+10.3%+5.8%+44.3%−11.7%−16.9%−22.2%+23.2%−27.5%+41.3%+36.7%+15.3%+54.8%−34.6%+26.6%+59.9%−44.1%
ACM Aecom6 of 18−9.9%+16.7%+9.8%+10.7%+55.4%+15.4%+62.7%−28.6%+2.2%+21.1%−1.1%+3.2%+23.7%+15.7%−26.5%+1.7%−10.5%+7.6%—————————
MTZ MasTec, Inc.16 of 27+59.7%+79.8%−11.3%−7.5%+35.4%+6.3%+58.2%−17.1%+28.0%+120%−23.1%−30.9%+31.3%+43.5%+19.1%+16.7%+7.9%+13.9%−11.9%+10.2%+3.6%−31.7%+402%−57.6%−65.3%−32.6%+112%
DY Dycom Industries, Inc.10 of 27+94.1%+51.2%+23.0%−0.2%+24.1%+60.2%−12.8%−51.5%+38.8%+14.8%+99.4%+26.3%+40.4%−5.3%+41.8%+83.7%−2.3%−69.2%+26.2%−4.0%−27.9%+13.8%+102%−20.7%−53.5%+22.3%+15.7%
FLR Fluor Corporation8 of 25−19.7%+25.9%+13.0%+39.9%+55.1%−14.5%−39.5%−36.6%+0.1%+13.1%−20.8%−23.6%+38.0%+18.3%−23.6%+48.7%+1.6%−37.9%+79.8%+6.7%+43.2%+39.5%+44.2%−23.6%+14.8%——
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Risk and diversification

How PWR 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 PWR's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents PWR's five deepest drawdowns since it began trading in 1998, 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 PWR fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringPWR fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Dot-com bust−97.1%−44.4%Jun 2000Oct 20022.3 yearsOct 202018 years
No named crash−52.2%−0.2%Jun 1999Aug 19992 monthsMar 20007 months
No named crash−33.9%−7.8%Jan 2025Mar 20252 monthsJun 20253 months
No named crash−33.4%−11.5%Apr 1998Oct 19986 monthsNov 19981 month
No named crash−28.5%−0.3%May 2026Jul 20262 monthsNot yet—

How did PWR do in stock market crashes?

This section measures how far PWR, 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 PWR.

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
PWR This pageQuanta Services, Inc.—−4.0%−21.7%−40.8%−22.1%−7.1%−35.4%−21.6%−1.7%−69.6%−97.1%
SPY S&P 500State Street SPDR S&P 500 ETF8 of 10−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
FIX Comfort Systems USA, Inc.5 of 10−7.8%−23.9%−38.8%−30.2%−6.3%−26.8%−33.3%−3.3%−57.0%−77.6%
STRL Sterling Infrastructure, Inc.4 of 10−8.9%−34.6%−49.3%−30.9%−8.2%−31.7%−26.1%0.0%−64.7%−45.6%
IESC IES Holdings, Inc.2 of 10−6.7%−52.8%−45.0%−23.4%−7.8%−16.3%−43.7%−4.5%−82.3%−66.8%
TPC Tutor Perini Corporation1 of 10−16.9%−56.9%−80.5%−24.6%−9.0%−44.6%−40.0%−9.2%−83.9%−65.6%
VRT Vertiv Holdings Co1 of 4−12.2%−65.7%−58.6%−3.4%——————
EME EMCOR Group, Inc.4 of 10−7.3%−25.8%−46.1%−24.2%−5.7%−17.7%−35.7%−3.0%−67.4%−31.7%
TTEK Tetra Tech, Inc.4 of 10−3.6%−30.5%−31.8%−32.0%−10.4%−17.2%−24.1%−2.4%−49.8%−77.6%
J Jacobs Solutions Inc.3 of 10−4.9%−26.3%−39.3%−31.7%−7.3%−22.0%−26.6%−4.3%−74.1%−38.3%
KBR KBR, Inc.0 of 9−3.6%−23.6%−58.0%−35.8%−12.2%−39.9%−43.2%−4.0%−77.5%—
HUBB Hubbell Incorporated6 of 10−5.6%−17.3%−40.6%−31.6%−3.7%−20.9%−26.6%−1.0%−59.7%−27.4%
STN Stantec Inc.6 of 9−2.8%−25.7%−31.8%−18.3%−2.5%−17.4%−30.3%−1.9%−67.4%—
DUK Duke Energy Corporation9 of 10−1.9%−24.1%−37.4%−7.7%−2.9%−13.7%−8.8%0.0%−38.9%−63.5%
APG APi Group Corporation0 of 2−8.6%−49.6%————————
MYRG MYR Group Inc.2 of 8−2.4%−30.1%−46.3%−22.0%−3.5%−38.3%−38.4%−2.4%——
ETN Eaton Corporation plc3 of 10−4.5%−26.3%−44.5%−26.0%−6.7%−22.3%−34.6%−1.4%−68.5%−31.6%
PRIM Primoris Services Corporation2 of 9−8.0%−41.0%−57.6%−28.4%−9.3%−21.6%−25.7%−3.4%−52.5%—
GVA Granite Construction Incorporated3 of 10−5.3%−35.5%−63.0%−30.3%−8.3%−17.7%−30.8%−2.8%−59.7%−49.6%
ACM Aecom2 of 9−6.1%−22.9%−54.1%−27.1%−9.2%−27.9%−36.5%−5.7%−58.6%—
MTZ MasTec, Inc.2 of 10−6.4%−34.5%−62.1%−25.5%−8.2%−38.5%−24.6%−6.6%−60.8%−96.0%
DY Dycom Industries, Inc.1 of 10−7.2%−24.5%−70.3%−41.6%−8.1%−45.3%−30.8%−6.6%−88.7%−84.9%
FLR Fluor Corporation2 of 9−8.1%−26.7%−76.7%−50.0%−6.4%−18.2%−32.6%−6.7%−70.0%—
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How closely does PWR 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 PWR 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 PWR's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
PWR This pageQuanta Services, Inc.141%61%2.311.22
FIX Comfort Systems USA, Inc.180%71%2.551.38
STRL Sterling Infrastructure, Inc.186%79%2.361.60
DUK Duke Energy Corporation35%19%1.880.33
IESC IES Holdings, Inc.173%93%1.871.53
EME EMCOR Group, Inc.128%75%1.711.16
MYRG MYR Group Inc.117%75%1.561.22
ETN Eaton Corporation plc114%80%1.431.16
TTEK Tetra Tech, Inc.94%76%1.240.88
HUBB Hubbell Incorporated108%101%1.071.03
J Jacobs Solutions Inc.82%78%1.050.79
MTZ MasTec, Inc.143%143%1.001.57
STN Stantec Inc.85%88%0.970.95
PRIM Primoris Services Corporation118%136%0.861.33
KBR KBR, Inc.87%104%0.830.88
DY Dycom Industries, Inc.114%141%0.811.53
GVA Granite Construction Incorporated98%126%0.781.41
TPC Tutor Perini Corporation155%206%0.761.74
ACM Aecom82%111%0.741.24
FLR Fluor Corporation101%194%0.522.03
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What diversifies PWR?

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

ETFs

InvestmentCorrelation5Y returnSharpe201820152014201020082002200180/20 mix volatility80/20 mix annual return
PWR Quanta Services, Inc. (this page)1.00+425%1.08−22.9%−28.7%−10.1%−4.4%−24.6%−77.3%−52.1%33.9%+41.6%
LVHI InternationalFranklin International Low Volatility High Dividend Index ETF0.28+119%1.48−5.2%——————27.7%+37.3%
DXJ InternationalWisdomTree Japan Hedged Equity Fund0.33+225%1.34−19.8%+7.7%+8.1%−1.8%−20.8%——28.1%+39.6%
EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund0.49+101%1.04−8.7%−25.3%+23.8%————28.6%+36.8%
HDV Dividend & IncomeiShares Core High Dividend ETF0.28+83.3%1.00−3.0%−0.3%+12.6%————28.0%+36.2%
FTLS Broad MarketFirst Trust Long/Short Equity ETF0.47+62.9%0.99−4.8%+4.7%—————28.0%+35.8%
DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF0.44+85.0%0.96−9.5%+4.1%+3.4%————28.1%+36.5%
GLD CommoditiesSPDR Gold Shares0.09+126%0.96−1.9%−10.7%−2.2%+29.3%+4.9%——27.6%+37.9%
XLE EnergyState Street Energy Select Sector SPDR ETF0.11+177%0.93−18.2%−21.5%−8.7%+21.9%−39.0%−14.8%−18.2%28.2%+39.3%

Stocks

InvestmentCorrelation5Y returnSharpe201820152014201020082002200180/20 mix volatility80/20 mix annual return
PWR Quanta Services, Inc. (this page)1.00+425%1.08−22.9%−28.7%−10.1%−4.4%−24.6%−77.3%−52.1%33.9%+41.6%
CAH Medical - DistributionCardinal Health, Inc.0.18+479%1.55−24.5%+12.6%+23.0%+21.4%−39.6%−8.3%−2.5%28.5%+42.4%
CLS Hardware, Equipment & PartsCelestica Inc.0.47+3,143%1.47−16.3%−6.0%+12.9%+2.8%−20.5%−65.1%−25.6%34.2%+56.1%
MCK Medical - DistributionMcKesson Corporation0.17+413%1.44−28.4%−4.5%+29.3%+13.8%−40.4%−27.2%+4.9%28.4%+41.7%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.10+690%1.41−8.2%+17.4%+0.4%————28.5%+45.0%
ATI Manufacturing - Metal FabricationATI Inc.0.42+1,008%1.34−9.8%−66.7%−0.5%+25.0%−70.0%−60.8%+10.3%32.3%+47.7%
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Common questions

What was PWR's worst drawdown?

PWR's deepest decline since it began trading in 1998 was 97.1%, from June 2000 to October 2002. It took about 18 years from the low to climb back to its old high.

What were PWR's best and worst years?

Over 27 full calendar years, PWR's best year was 2003, when it returned 109%. Its worst was 2002, with a return of -77.3%.

Is there a better investment than PWR?

Among PWR's popular alternatives, EME earned more than PWR with less volatility over the past 5 years: 43.0% a year at 35.3% volatility, against 39.3% a year at 37.2%. Few investments have done better on both counts: only six of the 3,633 stocks and funds worth at least $500 million earned more than PWR with less volatility over the past 5 years, among them LLY, MPC and HWM.

Is PWR more volatile than the S&P 500?

Yes. PWR's volatility over the past 5 years was 37.2%, 2.2 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, PWR's return lands within 37.2% 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 PWR's Sharpe ratio?

PWR's Sharpe ratio over the past 5 years was 1.08, against 0.79 for the S&P 500, so PWR earned more 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 PWR with the S&P 500?

Over the past 5 years, PWR's monthly returns had a correlation of 0.58 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 PWR instead: the lower it is, the more that option would diversify a PWR holding.

What are the best alternatives to PWR?

None of the 22 popular alternatives we compared outperformed PWR in at least 3 of 5 short-term and 2 of 3 long-term timeframes, which says more about PWR's strength than about its alternatives.

Did PWR outperform the S&P 500?

PWR finished ahead of the S&P 500 (SPY) in 17 of 27 full calendar years. In 2025, it returned +33.7%, against +17.7% for the index.

How did PWR do in stock market crashes?

PWR fell less than the S&P 500 (SPY) in one of the ten major crashes it has traded through, and further in eight. The clearest case was the dot-com bust, when PWR fell 97.1% and the S&P 500 fell 47.5%.

What diversifies PWR?

These had a low correlation with PWR over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.28), DXJ (correlation 0.33) and EMLP (correlation 0.49); among large stocks, CAH (correlation 0.18), CLS (correlation 0.47) and MCK (correlation 0.17). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to PWR

Other stocks and ETFs