EC vs. FRO

Last updated Apr 1, 2026

Compare and contrast key facts about Ecopetrol S.A. (EC) and Frontline Ltd. (FRO).

Performance

EC vs. FRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ecopetrol S.A. (EC) and Frontline Ltd. (FRO). The values are adjusted to include any dividend payments, if applicable.

EC vs. FRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EC Ecopetrol S.A.	49.60%	58.65%	-24.25%	41.83%	-5.04%	0.57%	-29.31%	38.58%	11.95%	64.34%
FRO Frontline Ltd.	64.83%	61.17%	-22.48%	96.23%	73.67%	13.67%	-41.47%	134.59%	20.48%	-32.17%

Fundamentals

Market Cap EC : $30.46B FRO : $7.76B
EPS EC : $4.39K FRO : $1.70
PE Ratio EC : 0.00 FRO : 20.47
PS Ratio EC : 0.00 FRO : 3.95
PB Ratio EC : 0.00 FRO : 3.09
Total Revenue (TTM) EC : $119.34T FRO : $1.97B
Gross Profit (TTM) EC : $37.53T FRO : $644.05M
EBITDA (TTM) EC : $38.59T FRO : $943.61M

Returns By Period

In the year-to-date period, EC achieves a 49.60% return, which is significantly lower than FRO's 64.83% return. Over the past 10 years, EC has underperformed FRO with an annualized return of 16.63%, while FRO has yielded a comparatively higher 23.46% annualized return.

EC

• 1D: 0.07%
• 1M: 26.07%
• YTD: 49.60%
• 6M: 62.76%
• 1Y: 80.05%
• 3Y*: 36.23%
• 5Y*: 19.63%
• 10Y*: 16.63%

FRO

• 1D: 4.40%
• 1M: -5.23%
• YTD: 64.83%
• 6M: 59.13%
• 1Y: 150.61%
• 3Y*: 40.69%
• 5Y*: 46.51%
• 10Y*: 23.46%

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

Return for Risk

EC vs. FRO — Risk / Return Rank

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

EC

EC Risk / Return Rank: 91
EC Sharpe Ratio Rank: 92
EC Sortino Ratio Rank: 89
EC Omega Ratio Rank: 88
EC Calmar Ratio Rank: 92
EC Martin Ratio Rank: 93

FRO

FRO Risk / Return Rank: 96
FRO Sharpe Ratio Rank: 97
FRO Sortino Ratio Rank: 95
FRO Omega Ratio Rank: 92
FRO Calmar Ratio Rank: 97
FRO Martin Ratio Rank: 97

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.

EC vs. FRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ecopetrol S.A. (EC) and Frontline Ltd. (FRO). 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.

	EC	FRO	Difference
Sharpe ratio Return per unit of total volatility	2.17	3.18	-1.01
Sortino ratio Return per unit of downside risk	2.73	3.53	-0.80
Omega ratio Gain probability vs. loss probability	1.36	1.43	-0.07
Calmar ratio Return relative to maximum drawdown	4.31	6.94	-2.63
Martin ratio Return relative to average drawdown	13.46	20.04	-6.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EC vs. FRO - Sharpe Ratio Comparison

The current EC Sharpe Ratio is 2.17, which is lower than the FRO Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of EC and FRO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	EC	FRO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	3.18	-1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.95	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.46	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.11	+0.03

Correlation

The correlation between EC and FRO is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

EC vs. FRO - Dividend Comparison

EC's dividend yield for the trailing twelve months is around 13.88%, more than FRO's 5.05% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EC Ecopetrol S.A.	13.88%	20.77%	20.47%	22.02%	22.47%	0.72%	6.92%	9.87%	4.01%	1.06%	0.00%	14.83%
FRO Frontline Ltd.	5.05%	4.26%	13.74%	14.31%	1.24%	0.00%	25.72%	0.78%	0.00%	6.54%	19.83%	1.67%

Drawdowns

EC vs. FRO - Drawdown Comparison

The maximum EC drawdown since its inception was -90.16%, smaller than the maximum FRO drawdown of -98.36%. Use the drawdown chart below to compare losses from any high point for EC and FRO.

Drawdown Indicators

	EC	FRO	Difference
Max Drawdown Largest peak-to-trough decline	-90.16%	-98.36%	+8.20%
Max Drawdown (1Y) Largest decline over 1 year	-19.48%	-21.41%	+1.93%
Max Drawdown (5Y) Largest decline over 5 years	-48.60%	-52.04%	+3.44%
Max Drawdown (10Y) Largest decline over 10 years	-73.36%	-57.14%	-16.22%
Current Drawdown Current decline from peak	-27.66%	-74.33%	+46.67%
Average Drawdown Average peak-to-trough decline	-51.44%	-67.81%	+16.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.24%	7.42%	-1.18%

Volatility

EC vs. FRO - Volatility Comparison

The current volatility for Ecopetrol S.A. (EC) is 12.83%, while Frontline Ltd. (FRO) has a volatility of 16.61%. This indicates that EC experiences smaller price fluctuations and is considered to be less risky than FRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EC	FRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.83%	16.61%	-3.78%
Volatility (6M) Calculated over the trailing 6-month period	25.37%	30.24%	-4.87%
Volatility (1Y) Calculated over the trailing 1-year period	37.11%	47.59%	-10.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.92%	49.39%	-12.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.60%	51.47%	-10.87%

Financials

EC vs. FRO - Profitability Comparison

The chart below illustrates the profitability comparison between Ecopetrol S.A. and Frontline Ltd. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

EC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Ecopetrol S.A. reported a gross profit of 8.39T and revenue of 28.47T. Therefore, the gross margin over that period was 29.5%.

FRO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Frontline Ltd. reported a gross profit of 288.91M and revenue of 624.51M. Therefore, the gross margin over that period was 46.3%.

EC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Ecopetrol S.A. reported an operating income of 5.24T and revenue of 28.47T, resulting in an operating margin of 18.4%.

FRO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Frontline Ltd. reported an operating income of 277.74M and revenue of 624.51M, resulting in an operating margin of 44.5%.

EC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Ecopetrol S.A. reported a net income of 1.49T and revenue of 28.47T, resulting in a net margin of 5.2%.

FRO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Frontline Ltd. reported a net income of 227.93M and revenue of 624.51M, resulting in a net margin of 36.5%.