ENPH vs. TAN
ENPH (Enphase Energy, Inc.) is a stock, while TAN (Invesco Solar ETF) is Alternative Energy Equities fund tracking the MAC Global Solar Energy Index. Over the past 10 years, ENPH returned 35.57%/yr vs 9.52%/yr for TAN. Their 0.63 correlation means they have sometimes moved together and sometimes differently.
Performance
ENPH vs. TAN - Performance Comparison
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Returns By Period
In the year-to-date period, ENPH achieves a 17.13% return, which is significantly higher than TAN's 0.43% return. Over the past 10 years, ENPH has outperformed TAN with an annualized return of 35.57%, while TAN has yielded a comparatively lower 9.52% annualized return.
ENPH
- 1D
- 0.43%
- 1M
- -12.84%
- 6M
- 1.51%
- YTD
- 17.13%
- 1Y
- 19.44%
- 3Y*
- -37.03%
- 5Y*
- -27.67%
- 10Y*
- 35.57%
- ALL TIME*
- 11.89%
TAN
- 1D
- -1.02%
- 1M
- -12.41%
- 6M
- -8.39%
- YTD
- 0.43%
- 1Y
- 35.30%
- 3Y*
- -9.55%
- 5Y*
- -10.35%
- 10Y*
- 9.52%
- ALL TIME*
- -7.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $194.87M | $189.47M | $367.78M | |
| $66.73M | $50.86M | $87.18M |
ENPH vs. TAN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ENPH Enphase Energy, Inc. | 17.13% | -53.33% | -48.02% | -50.13% | 44.83% | 4.26% | 571.53% | 452.43% | 96.27% | 138.61% |
TAN Invesco Solar ETF | 0.43% | 48.31% | -37.61% | -26.79% | -5.24% | -25.10% | 233.96% | 66.53% | -25.67% | 54.38% |
Correlation
The correlation between ENPH and TAN is 0.81, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.81 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.71 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2012 | 0.63 |
The correlation between ENPH and TAN shifts across timeframes, from 0.63 (all time) to 0.82 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ENPH vs. TAN — Risk / Return Rank
ENPH
TAN
ENPH vs. TAN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Enphase Energy, Inc. (ENPH) and Invesco Solar ETF (TAN). 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.
| ENPH | TAN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.16 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.31 | 0.96 | -0.65 |
| Martin ratioReturn relative to average drawdown | 0.69 | 3.14 | -2.45 |
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Drawdowns
ENPH vs. TAN - Drawdown Comparison
The maximum ENPH drawdown since its inception was -95.97%, roughly equal to the maximum TAN drawdown of -95.29%. Use the drawdown chart below to compare losses from any high point for ENPH and TAN.
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Drawdown Indicators
| ENPH | TAN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.97% | -95.29% | -0.68% |
Max Drawdown (1Y)Largest decline over 1 year | -51.51% | -35.51% | -16.00% |
Max Drawdown (3Y)Largest decline over 3 years | -81.39% | -58.85% | -22.54% |
Max Drawdown (5Y)Largest decline over 5 years | -92.23% | -73.95% | -18.28% |
Max Drawdown (10Y)Largest decline over 10 years | -92.23% | -78.53% | -13.70% |
Current DrawdownCurrent decline from peak | -88.83% | -77.35% | -11.48% |
Average DrawdownAverage peak-to-trough decline | -50.90% | -78.45% | +27.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.12% | 10.87% | +12.25% |
Volatility
ENPH vs. TAN - Volatility Comparison
Enphase Energy, Inc. (ENPH) has a higher volatility of 18.66% compared to Invesco Solar ETF (TAN) at 11.99%. This indicates that ENPH's price experiences larger fluctuations and is considered to be riskier than TAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENPH | TAN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.66% | 11.99% | +6.67% |
Volatility (6M)Calculated over the trailing 6-month period | 68.82% | 29.71% | +39.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 82.81% | 39.21% | +43.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 70.68% | 40.14% | +30.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 78.42% | 38.27% | +40.15% |
Dividends
ENPH vs. TAN - Dividend Comparison
Neither ENPH nor TAN has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TAN Invesco Solar ETF | 0.00% | 0.00% | 0.50% | 0.09% | 0.00% | 0.00% | 0.09% | 0.30% | 0.69% | 1.77% | 5.04% | 1.60% |
Frequently Asked Questions
ENPH and TAN have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ENPH has higher volatility (18.66%) compared to TAN (11.99%). In terms of maximum drawdown, ENPH dropped -95.97% vs TAN's -95.29%.
TAN currently has the higher Sharpe Ratio (0.87 vs 0.19), 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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