ENPH vs. SEDG

Last updated Jun 3, 2026

ENPH (Enphase Energy, Inc.) and SEDG (SolarEdge Technologies, Inc.) are both stocks. Both operate in the Solar industry within the Technology sector. Over the past 10 years, ENPH returned 43.09%/yr vs 14.08%/yr for SEDG. A 0.62 correlation means they provide meaningful diversification when combined.

Performance

ENPH vs. SEDG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Enphase Energy, Inc. (ENPH) and SolarEdge Technologies, Inc. (SEDG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ENPH achieves a 125.68% return, which is significantly lower than SEDG's 172.13% return. Over the past 10 years, ENPH has outperformed SEDG with an annualized return of 43.09%, while SEDG has yielded a comparatively lower 14.08% annualized return.

ENPH

• 1D: 13.48%
• 1M: 113.68%
• YTD: 125.68%
• 6M: 148.39%
• 1Y: 75.05%
• 3Y*: -26.46%
• 5Y*: -11.62%
• 10Y*: 43.09%

SEDG

• 1D: 3.58%
• 1M: 82.96%
• YTD: 172.13%
• 6M: 140.39%
• 1Y: 359.12%
• 3Y*: -35.39%
• 5Y*: -19.93%
• 10Y*: 14.08%

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

ENPH vs. SEDG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENPH Enphase Energy, Inc.	125.68%	-53.33%	-48.02%	-50.13%	44.83%	4.26%	571.53%	452.43%	96.27%	138.61%
SEDG SolarEdge Technologies, Inc.	172.13%	112.13%	-85.47%	-66.96%	0.96%	-12.08%	235.60%	170.91%	-6.52%	202.82%

Correlation

The correlation between ENPH and SEDG is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Mar 27, 2015	0.62

The correlation between ENPH and SEDG shifts across timeframes, from 0.62 (all time) to 0.77 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS ENPH : $0.92 SEDG : -$8.28
PS Ratio ENPH : 6.89 SEDG : 2.71
Total Revenue (TTM) ENPH : $1.40B SEDG : $1.28B
Gross Profit (TTM) ENPH : $619.16M SEDG : $232.34M
EBITDA (TTM) ENPH : $189.48M SEDG : -$214.57M

Return for Risk

ENPH vs. SEDG — Risk / Return Rank

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

ENPH

ENPH Risk / Return Rank: 69
ENPH Sharpe Ratio Rank: 68
ENPH Sortino Ratio Rank: 71
ENPH Omega Ratio Rank: 70
ENPH Calmar Ratio Rank: 71
ENPH Martin Ratio Rank: 67

SEDG

SEDG Risk / Return Rank: 93
SEDG Sharpe Ratio Rank: 96
SEDG Sortino Ratio Rank: 90
SEDG Omega Ratio Rank: 89
SEDG Calmar Ratio Rank: 97
SEDG Martin Ratio Rank: 94

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.

ENPH vs. SEDG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Enphase Energy, Inc. (ENPH) and SolarEdge Technologies, Inc. (SEDG). 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.

	ENPH	SEDG	Difference
Sharpe ratio Return per unit of total volatility	0.89	3.52	-2.62
Sortino ratio Return per unit of downside risk	1.81	3.25	-1.44
Omega ratio Gain probability vs. loss probability	1.23	1.42	-0.19
Calmar ratio Return relative to maximum drawdown	1.73	9.11	-7.38
Martin ratio Return relative to average drawdown	3.14	18.63	-15.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ENPH vs. SEDG - Sharpe Ratio Comparison

The current ENPH Sharpe Ratio is 0.89, which is lower than the SEDG Sharpe Ratio of 3.52. The chart below compares the historical Sharpe Ratios of ENPH and SEDG, 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

	ENPH	SEDG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	3.52	-2.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	-0.24	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.19	+0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.17	+0.05

Drawdowns

ENPH vs. SEDG - Drawdown Comparison

The maximum ENPH drawdown since its inception was -95.97%, roughly equal to the maximum SEDG drawdown of -97.16%. Use the drawdown chart below to compare losses from any high point for ENPH and SEDG.

Drawdown Indicators

	ENPH	SEDG	Difference
Max Drawdown Largest peak-to-trough decline	-95.97%	-97.16%	+1.19%
Max Drawdown (1Y) Largest decline over 1 year	-43.13%	-37.26%	-5.87%
Max Drawdown (3Y) Largest decline over 3 years	-86.23%	-96.44%	+10.21%
Max Drawdown (5Y) Largest decline over 5 years	-92.23%	-97.16%	+4.93%
Max Drawdown (10Y) Largest decline over 10 years	-92.23%	-97.16%	+4.93%
Current Drawdown Current decline from peak	-78.47%	-78.68%	+0.21%
Average Drawdown Average peak-to-trough decline	-50.51%	-43.09%	-7.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.79%	18.23%	+5.56%

Volatility

ENPH vs. SEDG - Volatility Comparison

The current volatility for Enphase Energy, Inc. (ENPH) is 32.78%, while SolarEdge Technologies, Inc. (SEDG) has a volatility of 36.47%. This indicates that ENPH experiences smaller price fluctuations and is considered to be less risky than SEDG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENPH	SEDG	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.78%	36.47%	-3.69%
Volatility (6M) Calculated over the trailing 6-month period	61.92%	67.39%	-5.47%
Volatility (1Y) Calculated over the trailing 1-year period	84.45%	103.00%	-18.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.63%	83.50%	-13.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.14%	73.51%	+4.63%

Dividends

ENPH vs. SEDG - Dividend Comparison

Neither ENPH nor SEDG has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

ENPH vs. SEDG - Profitability Comparison

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

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%.

SEDG - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, SolarEdge Technologies, Inc. reported a gross profit of 68.28M and revenue of 310.50M. Therefore, the gross margin over that period was 22.0%.

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%.

SEDG - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, SolarEdge Technologies, Inc. reported an operating income of -55.04M and revenue of 310.50M, resulting in an operating margin of -17.7%.

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%.

SEDG - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, SolarEdge Technologies, Inc. reported a net income of -57.37M and revenue of 310.50M, resulting in a net margin of -18.5%.

Frequently Asked Questions

Can I hold both ENPH and SEDG in my portfolio?

ENPH and SEDG have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ENPH or SEDG?

SEDG has higher volatility (36.47%) compared to ENPH (32.78%). In terms of maximum drawdown, ENPH dropped -95.97% vs SEDG's -97.16%.

Which has better risk-adjusted returns?

SEDG currently has the higher Sharpe Ratio (3.52 vs 0.89), 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.