AM vs. EPD

Last updated Jun 3, 2026

AM (Antero Midstream Corporation) and EPD (Enterprise Products Partners L.P.) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, AM returned 7.39%/yr vs 10.46%/yr for EPD. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

AM vs. EPD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Antero Midstream Corporation (AM) and Enterprise Products Partners L.P. (EPD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with AM having a 21.93% return and EPD slightly lower at 21.27%. Over the past 10 years, AM has underperformed EPD with an annualized return of 7.39%, while EPD has yielded a comparatively higher 10.46% annualized return.

AM

• 1D: 1.82%
• 1M: -2.26%
• YTD: 21.93%
• 6M: 22.13%
• 1Y: 17.18%
• 3Y*: 33.24%
• 5Y*: 24.82%
• 10Y*: 7.39%

EPD

• 1D: 1.34%
• 1M: -0.84%
• YTD: 21.27%
• 6M: 21.54%
• 1Y: 29.66%
• 3Y*: 21.47%
• 5Y*: 17.41%
• 10Y*: 10.46%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AM vs. EPD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AM Antero Midstream Corporation	21.93%	24.37%	28.46%	25.73%	21.98%	39.55%	27.59%	-60.29%	-22.28%	-2.32%
EPD Enterprise Products Partners L.P.	21.27%	9.45%	28.00%	17.71%	18.32%	21.40%	-23.61%	21.88%	-1.32%	4.24%

Correlation

The correlation between AM and EPD is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Nov 6, 2014	0.53

The correlation between AM and EPD shifts across timeframes, from 0.45 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap AM : $10.14B EPD : $82.47B
EPS AM : $0.85 EPD : $2.69
PE Ratio AM : 24.85 EPD : 14.00
PEG Ratio AM : 4.29 EPD : 2.25
PS Ratio AM : 8.07 EPD : 1.60
Total Revenue (TTM) AM : $1.26B EPD : $51.57B
Gross Profit (TTM) AM : $620.66M EPD : $7.31B
EBITDA (TTM) AM : $955.64M EPD : $10.11B

Return for Risk

AM vs. EPD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AM

AM Risk / Return Rank: 64
AM Sharpe Ratio Rank: 67
AM Sortino Ratio Rank: 60
AM Omega Ratio Rank: 57
AM Calmar Ratio Rank: 68
AM Martin Ratio Rank: 66

EPD

EPD Risk / Return Rank: 86
EPD Sharpe Ratio Rank: 86
EPD Sortino Ratio Rank: 84
EPD Omega Ratio Rank: 82
EPD Calmar Ratio Rank: 87
EPD Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AM vs. EPD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Antero Midstream Corporation (AM) and Enterprise Products Partners L.P. (EPD). 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.

	AM	EPD	Difference
Sharpe ratio Return per unit of total volatility	0.83	1.87	-1.04
Sortino ratio Return per unit of downside risk	1.29	2.64	-1.35
Omega ratio Gain probability vs. loss probability	1.15	1.33	-0.18
Calmar ratio Return relative to maximum drawdown	1.46	4.05	-2.59
Martin ratio Return relative to average drawdown	3.04	12.67	-9.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AM vs. EPD - Sharpe Ratio Comparison

The current AM Sharpe Ratio is 0.83, which is lower than the EPD Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of AM and EPD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AM	EPD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	1.87	-1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	1.02	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	0.43	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.54	-0.40

Drawdowns

AM vs. EPD - Drawdown Comparison

The maximum AM drawdown since its inception was -93.01%, which is greater than EPD's maximum drawdown of -58.78%. Use the drawdown chart below to compare losses from any high point for AM and EPD.

Drawdown Indicators

	AM	EPD	Difference
Max Drawdown Largest peak-to-trough decline	-93.01%	-58.78%	-34.23%
Max Drawdown (1Y) Largest decline over 1 year	-12.67%	-7.56%	-5.11%
Max Drawdown (3Y) Largest decline over 3 years	-13.98%	-15.40%	+1.42%
Max Drawdown (5Y) Largest decline over 5 years	-21.91%	-18.06%	-3.85%
Max Drawdown (10Y) Largest decline over 10 years	-93.01%	-58.04%	-34.97%
Current Drawdown Current decline from peak	-9.19%	-5.25%	-3.94%
Average Drawdown Average peak-to-trough decline	-31.45%	-10.13%	-21.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.08%	2.42%	+3.66%

Volatility

AM vs. EPD - Volatility Comparison

Antero Midstream Corporation (AM) and Enterprise Products Partners L.P. (EPD) have volatilities of 6.54% and 6.74%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AM	EPD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.54%	6.74%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	14.57%	13.29%	+1.28%
Volatility (1Y) Calculated over the trailing 1-year period	20.92%	15.98%	+4.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.60%	17.23%	+9.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.02%	24.16%	+17.86%

Dividends

AM vs. EPD - Dividend Comparison

AM's dividend yield for the trailing twelve months is around 4.24%, less than EPD's 5.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AM Antero Midstream Corporation	4.24%	5.06%	5.96%	7.18%	8.34%	10.15%	15.95%	18.28%	7.53%	4.27%	3.14%	2.93%
EPD Enterprise Products Partners L.P.	5.81%	6.74%	6.63%	7.51%	7.79%	8.20%	9.09%	6.23%	6.97%	6.29%	5.88%	5.90%

Financials

AM vs. EPD - Profitability Comparison

The chart below illustrates the profitability comparison between Antero Midstream Corporation and Enterprise Products Partners L.P. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

AM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Antero Midstream Corporation reported a gross profit of 0.00 and revenue of 314.21M. Therefore, the gross margin over that period was 0.0%.

EPD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Enterprise Products Partners L.P. reported a gross profit of 1.88B and revenue of 14.39B. Therefore, the gross margin over that period was 13.1%.

AM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Antero Midstream Corporation reported an operating income of 188.61M and revenue of 314.21M, resulting in an operating margin of 60.0%.

EPD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Enterprise Products Partners L.P. reported an operating income of 1.82B and revenue of 14.39B, resulting in an operating margin of 12.6%.

AM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Antero Midstream Corporation reported a net income of 118.27M and revenue of 314.21M, resulting in a net margin of 37.6%.

EPD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Enterprise Products Partners L.P. reported a net income of 1.48B and revenue of 14.39B, resulting in a net margin of 10.3%.

Frequently Asked Questions

Can I hold both AM and EPD in my portfolio?

AM and EPD have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AM or EPD?

EPD has higher volatility (6.74%) compared to AM (6.54%). In terms of maximum drawdown, AM dropped -93.01% vs EPD's -58.78%.

Which has better risk-adjusted returns?

EPD currently has the higher Sharpe Ratio (1.87 vs 0.83), 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.