ENPH vs. USFR

Last updated Jun 4, 2026

ENPH (Enphase Energy, Inc.) is a stock, while USFR (WisdomTree Floating Rate Treasury Fund) is Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Over the past 10 years, ENPH returned 42.42%/yr vs 2.47%/yr for USFR. At a correlation of -0.02, they often move in opposite directions.

Performance

ENPH vs. USFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Enphase Energy, Inc. (ENPH) and WisdomTree Floating Rate Treasury Fund (USFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ENPH achieves a 115.35% return, which is significantly higher than USFR's 1.60% return. Over the past 10 years, ENPH has outperformed USFR with an annualized return of 42.42%, while USFR has yielded a comparatively lower 2.47% annualized return.

ENPH

• 1D: -4.58%
• 1M: 112.11%
• YTD: 115.35%
• 6M: 134.84%
• 1Y: 57.76%
• 3Y*: -27.60%
• 5Y*: -12.52%
• 10Y*: 42.42%

USFR

• 1D: 0.02%
• 1M: 0.29%
• YTD: 1.60%
• 6M: 1.98%
• 1Y: 4.03%
• 3Y*: 4.76%
• 5Y*: 3.66%
• 10Y*: 2.47%

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

ENPH vs. USFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ENPH Enphase Energy, Inc.	115.35%	-53.33%	-48.02%	-50.13%	44.83%	4.26%	571.53%	452.43%	96.27%	138.61%
USFR WisdomTree Floating Rate Treasury Fund	1.60%	4.23%	5.47%	5.18%	1.98%	-0.03%	0.56%	2.02%	2.01%	1.03%

Correlation

The correlation between ENPH and USFR is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (5Y) Calculated over the trailing 5-year period	-0.06
Correlation (10Y) Calculated over the trailing 10-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Feb 5, 2014	-0.02

Return for Risk

ENPH vs. USFR — Risk / Return Rank

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

ENPH

ENPH Risk / Return Rank: 65
ENPH Sharpe Ratio Rank: 63
ENPH Sortino Ratio Rank: 67
ENPH Omega Ratio Rank: 66
ENPH Calmar Ratio Rank: 66
ENPH Martin Ratio Rank: 62

USFR

USFR Risk / Return Rank: 100
USFR Sharpe Ratio Rank: 100
USFR Sortino Ratio Rank: 100
USFR Omega Ratio Rank: 100
USFR Calmar Ratio Rank: 100
USFR Martin Ratio Rank: 100

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. USFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Enphase Energy, Inc. (ENPH) and WisdomTree Floating Rate Treasury Fund (USFR). 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	USFR	Difference
Sharpe ratio: Return per unit of total volatility	0.69	15.11	-14.43
Sortino ratio: Return per unit of downside risk	1.59	50.64	-49.05
Omega ratio: Gain probability vs. loss probability	1.20	13.43	-12.23
Calmar ratio: Return relative to maximum drawdown	1.35	203.42	-202.07
Martin ratio: Return relative to average drawdown	2.43	787.84	-785.40
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. USFR - Sharpe Ratio Comparison

The current ENPH Sharpe Ratio is 0.69, which is lower than the USFR Sharpe Ratio of 15.11. The chart below compares the historical Sharpe Ratios of ENPH and USFR, 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	USFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	15.11	-14.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.18	9.26	-9.44
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	3.07	-2.53
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	1.60	-1.39

Drawdowns

ENPH vs. USFR - Drawdown Comparison

The maximum ENPH drawdown since its inception was -95.97%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for ENPH and USFR.

Drawdown Indicators

	ENPH	USFR	Difference
Max Drawdown Largest peak-to-trough decline	-95.97%	-1.36%	-94.61%
Max Drawdown (1Y) Largest decline over 1 year	-43.13%	-0.02%	-43.11%
Max Drawdown (3Y) Largest decline over 3 years	-86.23%	-0.06%	-86.17%
Max Drawdown (5Y) Largest decline over 5 years	-92.23%	-0.18%	-92.05%
Max Drawdown (10Y) Largest decline over 10 years	-92.23%	-0.80%	-91.43%
Current Drawdown Current decline from peak	-79.46%	0.00%	-79.46%
Average Drawdown Average peak-to-trough decline	-50.52%	-0.16%	-50.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.79%	0.01%	+23.78%

Volatility

ENPH vs. USFR - Volatility Comparison

Enphase Energy, Inc. (ENPH) has a higher volatility of 32.97% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that ENPH's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ENPH	USFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.97%	0.06%	+32.91%
Volatility (6M) Calculated over the trailing 6-month period	62.13%	0.18%	+61.95%
Volatility (1Y) Calculated over the trailing 1-year period	84.59%	0.27%	+84.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	69.64%	0.40%	+69.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	78.14%	0.81%	+77.33%

Dividends

ENPH vs. USFR - Dividend Comparison

ENPH has not paid dividends to shareholders, while USFR's dividend yield for the trailing twelve months is around 3.91%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
USFR WisdomTree Floating Rate Treasury Fund	3.91%	4.15%	5.17%	5.12%	1.78%	0.01%	0.40%	2.08%	1.67%	1.03%	0.29%

Frequently Asked Questions

Can I hold both ENPH and USFR in my portfolio?

ENPH and USFR have a correlation of -0.06, 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 USFR?

ENPH has higher volatility (32.97%) compared to USFR (0.06%). In terms of maximum drawdown, ENPH dropped -95.97% vs USFR's -1.36%.

Which has better risk-adjusted returns?

USFR currently has the higher Sharpe Ratio (15.11 vs 0.69), 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.