AES vs. ENPH
AES (The AES Corporation) and ENPH (Enphase Energy, Inc.) are both stocks. AES operates in Utilities - Diversified (Utilities), while ENPH operates in Solar (Technology). Over the past 10 years, AES returned 6.06%/yr vs 36.65%/yr for ENPH. At a 0.25 correlation, their price movements are largely independent.
Performance
AES vs. ENPH - Performance Comparison
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Returns By Period
In the year-to-date period, AES achieves a 5.00% return, which is significantly lower than ENPH's 47.33% return. Over the past 10 years, AES has underperformed ENPH with an annualized return of 6.06%, while ENPH has yielded a comparatively higher 36.65% annualized return.
AES
- 1D
- 0.34%
- 1M
- 0.14%
- YTD
- 5.00%
- 6M
- 8.33%
- 1Y
- 52.27%
- 3Y*
- -6.03%
- 5Y*
- -7.19%
- 10Y*
- 6.06%
ENPH
- 1D
- -9.90%
- 1M
- -26.25%
- YTD
- 47.33%
- 6M
- 46.55%
- 1Y
- 36.63%
- 3Y*
- -33.24%
- 5Y*
- -22.67%
- 10Y*
- 36.65%
AES vs. ENPH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AES The AES Corporation | 5.00% | 18.26% | -30.40% | -30.88% | 21.69% | 5.94% | 22.16% | 42.14% | 39.02% | -2.69% |
ENPH Enphase Energy, Inc. | 47.33% | -53.33% | -48.02% | -50.13% | 44.83% | 4.26% | 571.53% | 452.43% | 96.27% | 138.61% |
Correlation
The correlation between AES and ENPH is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2012 | 0.25 |
The correlation between AES and ENPH shifts across timeframes, from 0.25 (all time) to 0.38 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
AES:
$1.97
ENPH:
$0.92
AES:
7.48
ENPH:
51.54
AES:
0.04
ENPH:
1.18
AES:
0.63
ENPH:
4.50
AES:
$12.49B
ENPH:
$1.40B
AES:
$1.77B
ENPH:
$619.16M
AES:
$2.73B
ENPH:
$189.48M
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Return for Risk
AES vs. ENPH — Risk / Return Rank
AES
ENPH
AES vs. ENPH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The AES Corporation (AES) and Enphase Energy, Inc. (ENPH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AES | ENPH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.16 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 0.93 | +1.84 |
| Martin ratioReturn relative to average drawdown | 5.11 | 1.70 | +3.41 |
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Drawdowns
AES vs. ENPH - Drawdown Comparison
The maximum AES drawdown since its inception was -98.65%, roughly equal to the maximum ENPH drawdown of -95.97%. Use the drawdown chart below to compare losses from any high point for AES and ENPH.
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Drawdown Indicators
| AES | ENPH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.65% | -95.97% | -2.68% |
Max Drawdown (1Y)Largest decline over 1 year | -18.98% | -39.65% | +20.67% |
Max Drawdown (3Y)Largest decline over 3 years | -53.33% | -86.23% | +32.90% |
Max Drawdown (5Y)Largest decline over 5 years | -63.43% | -92.23% | +28.80% |
Max Drawdown (10Y)Largest decline over 10 years | -63.43% | -92.23% | +28.80% |
Current DrawdownCurrent decline from peak | -62.03% | -85.95% | +23.92% |
Average DrawdownAverage peak-to-trough decline | -57.02% | -50.63% | -6.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.26% | 21.60% | -11.34% |
Volatility
AES vs. ENPH - Volatility Comparison
The current volatility for The AES Corporation (AES) is 0.98%, while Enphase Energy, Inc. (ENPH) has a volatility of 32.94%. This indicates that AES experiences smaller price fluctuations and is considered to be less risky than ENPH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AES | ENPH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 32.94% | -31.96% |
Volatility (6M)Calculated over the trailing 6-month period | 25.36% | 68.01% | -42.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.64% | 84.75% | -43.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.73% | 70.51% | -32.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.04% | 78.35% | -42.31% |
Dividends
AES vs. ENPH - Dividend Comparison
AES's dividend yield for the trailing twelve months is around 4.79%, while ENPH has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AES The AES Corporation | 4.79% | 4.91% | 5.36% | 3.45% | 2.20% | 2.48% | 2.44% | 2.74% | 3.60% | 4.43% | 3.79% | 4.18% |
ENPH Enphase Energy, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
AES vs. ENPH - Financials Comparison
This section allows you to compare key financial metrics between The AES Corporation and Enphase Energy, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AES vs. ENPH - Profitability Comparison
AES - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The AES Corporation reported a gross profit of 0.00 and revenue of 3.18B. Therefore, the gross margin over that period was 0.0%.
ENPH - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Enphase Energy, Inc. reported a gross profit of 100.39M and revenue of 282.90M. Therefore, the gross margin over that period was 35.5%.
AES - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The AES Corporation reported an operating income of 0.00 and revenue of 3.18B, resulting in an operating margin of 0.0%.
ENPH - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Enphase Energy, Inc. reported an operating income of -29.64M and revenue of 282.90M, resulting in an operating margin of -10.5%.
AES - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The AES Corporation reported a net income of 201.00M and revenue of 3.18B, resulting in a net margin of 6.3%.
ENPH - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Enphase Energy, Inc. reported a net income of -20.31M and revenue of 282.90M, resulting in a net margin of -7.2%.
Frequently Asked Questions
AES and ENPH have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ENPH has higher volatility (32.94%) compared to AES (0.98%). In terms of maximum drawdown, AES dropped -98.65% vs ENPH's -95.97%.
AES currently has the higher Sharpe Ratio (1.26 vs 0.43), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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