EFN.TO vs. ENPH

Last updated Jul 21, 2026

EFN.TO (Element Fleet Management Corp.) and ENPH (Enphase Energy, Inc.) are both stocks. EFN.TO operates in Rental & Leasing Services (Industrials), while ENPH operates in Solar (Technology). Over the past 10 years, EFN.TO returned 12.20%/yr vs 36.75%/yr for ENPH. At a 0.18 correlation, their price movements are largely independent.

Performance

EFN.TO vs. ENPH - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Element Fleet Management Corp. (EFN.TO) and Enphase Energy, Inc. (ENPH). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

EFN.TO is traded in CAD, while ENPH is traded in USD. To make them comparable, the ENPH values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, EFN.TO achieves a -14.48% return, which is significantly lower than ENPH's 26.04% return. Over the past 10 years, EFN.TO has underperformed ENPH with an annualized return of 12.20%, while ENPH has yielded a comparatively higher 36.75% annualized return.

EFN.TO

• 1D: -0.26%
• 1M: 8.93%
• 6M: -10.38%
• YTD: -14.48%
• 1Y: -13.26%
• 3Y*: 15.21%
• 5Y*: 19.04%
• 10Y*: 12.20%
• ALL TIME*: 16.66%

ENPH

• 1D: -5.20%
• 1M: -24.95%
• 6M: 13.87%
• YTD: 26.04%
• 1Y: 1.75%
• 3Y*: -38.15%
• 5Y*: -24.66%
• 10Y*: 36.75%
• ALL TIME*: 15.02%

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

EFN.TO vs. ENPH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EFN.TO Element Fleet Management Corp.	-14.48%	26.00%	37.37%	19.41%	46.53%	-1.75%	22.92%	63.45%	-23.56%	-21.38%
ENPH Enphase Energy, Inc.	26.04%	-55.46%	-43.62%	-51.31%	54.01%	4.21%	555.59%	429.66%	112.77%	122.46%

Correlation

The correlation between EFN.TO and ENPH is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Mar 30, 2012	0.18

Fundamentals

Market Cap EFN.TO : CA$12.09B ENPH : $5.20B
EPS EFN.TO : $0.73 ENPH : $0.92
PE Ratio EFN.TO : 29.64 ENPH : 42.86
PEG Ratio EFN.TO : 23.95 ENPH : 0.98
PS Ratio EFN.TO : 3.67 ENPH : 3.74
PB Ratio EFN.TO : 3.20 ENPH : 4.70
Total Revenue (TTM) EFN.TO : $2.36B ENPH : $1.40B
Gross Profit (TTM) EFN.TO : $1.03B ENPH : $619.16M
EBITDA (TTM) EFN.TO : $1.56B ENPH : $189.48M

Return for Risk

EFN.TO vs. ENPH — Risk / Return Rank

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

EFN.TO

EFN.TO Risk / Return Rank: 23
EFN.TO Sharpe Ratio Rank: 20
EFN.TO Sortino Ratio Rank: 21
EFN.TO Omega Ratio Rank: 19
EFN.TO Calmar Ratio Rank: 30
EFN.TO Martin Ratio Rank: 25

ENPH

ENPH Risk / Return Rank: 47
ENPH Sharpe Ratio Rank: 45
ENPH Sortino Ratio Rank: 51
ENPH Omega Ratio Rank: 50
ENPH Calmar Ratio Rank: 45
ENPH Martin Ratio Rank: 45

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.

EFN.TO vs. ENPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Element Fleet Management Corp. (EFN.TO) 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.

	EFN.TO	ENPH	Difference
Sharpe ratio: Return per unit of total volatility	-0.55	0.02	-0.57
Sortino ratio: Return per unit of downside risk	-0.59	0.70	-1.29
Omega ratio: Gain probability vs. loss probability	0.92	1.08	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.43	0.04	-0.47
Martin ratio: Return relative to average drawdown	-0.93	0.08	-1.01

EFN.TO vs. ENPH - Sharpe Ratio Comparison

The current EFN.TO Sharpe Ratio is -0.55, which is lower than the ENPH Sharpe Ratio of 0.02. The chart below compares the historical Sharpe Ratios of EFN.TO and ENPH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EFN.TO vs. ENPH - Drawdown Comparison

The maximum EFN.TO drawdown since its inception was -75.67%, smaller than the maximum ENPH drawdown of -95.02%. Use the drawdown chart below to compare losses from any high point for EFN.TO and ENPH.

Drawdown Indicators

	EFN.TO	ENPH	Difference
Max Drawdown Largest peak-to-trough decline	-75.67%	-95.02%	+19.35%
Max Drawdown (1Y) Largest decline over 1 year	-31.19%	-44.74%	+13.55%
Max Drawdown (3Y) Largest decline over 3 years	-31.19%	-84.49%	+53.30%
Max Drawdown (5Y) Largest decline over 5 years	-31.19%	-91.88%	+60.69%
Max Drawdown (10Y) Largest decline over 10 years	-72.13%	-91.88%	+19.75%
Current Drawdown Current decline from peak	-18.81%	-87.75%	+68.94%
Average Drawdown Average peak-to-trough decline	-16.54%	-48.81%	+32.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.22%	22.66%	-8.44%

Volatility

EFN.TO vs. ENPH - Volatility Comparison

The current volatility for Element Fleet Management Corp. (EFN.TO) is 5.43%, while Enphase Energy, Inc. (ENPH) has a volatility of 21.87%. This indicates that EFN.TO 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.

Volatility by Period

	EFN.TO	ENPH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.43%	21.87%	-16.44%
Volatility (6M) Calculated over the trailing 6-month period	20.54%	69.51%	-48.97%
Volatility (1Y) Calculated over the trailing 1-year period	24.09%	84.18%	-60.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.73%	70.89%	-47.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.86%	78.56%	-43.70%

Dividends

EFN.TO vs. ENPH - Dividend Comparison

EFN.TO's dividend yield for the trailing twelve months is around 1.83%, while ENPH has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFN.TO Element Fleet Management Corp.	1.83%	1.44%	1.69%	1.95%	1.80%	2.12%	1.49%	1.62%	3.91%	3.16%	0.80%	0.18%
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

EFN.TO vs. ENPH - Profitability Comparison

The chart below illustrates the profitability comparison between Element Fleet Management Corp. and Enphase Energy, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

Portfolio components

EFN.TO - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Element Fleet Management Corp. reported a gross profit of 202.63M and revenue of 598.29M. Therefore, the gross margin over that period was 33.9%.

ENPH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 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%.

EFN.TO - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Element Fleet Management Corp. reported an operating income of 252.90M and revenue of 598.29M, resulting in an operating margin of 42.3%.

ENPH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Enphase Energy, Inc. reported an operating income of -29.64M and revenue of 282.90M, resulting in an operating margin of -10.5%.

EFN.TO - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Element Fleet Management Corp. reported a net income of 116.60M and revenue of 598.29M, resulting in a net margin of 19.5%.

ENPH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 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

Can I hold both EFN.TO and ENPH in my portfolio?

EFN.TO and ENPH have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.