EPD vs. NEXT

Last updated Jun 9, 2026

EPD (Enterprise Products Partners L.P.) and NEXT (NextDecade Corporation) are both stocks. Both are in the Energy sector — EPD in Oil & Gas Midstream, NEXT in Oil & Gas E&P. Over the past 10 years, EPD returned 10.45%/yr vs -1.63%/yr for NEXT. At a 0.23 correlation, their price movements are largely independent.

Performance

EPD vs. NEXT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Enterprise Products Partners L.P. (EPD) and NextDecade Corporation (NEXT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPD achieves a 20.66% return, which is significantly lower than NEXT's 60.53% return. Over the past 10 years, EPD has outperformed NEXT with an annualized return of 10.45%, while NEXT has yielded a comparatively lower -1.63% annualized return.

EPD

• 1D: -0.77%
• 1M: 0.89%
• YTD: 20.66%
• 6M: 18.26%
• 1Y: 27.33%
• 3Y*: 21.14%
• 5Y*: 16.72%
• 10Y*: 10.45%

NEXT

• 1D: -0.82%
• 1M: 11.90%
• YTD: 60.53%
• 6M: 31.78%
• 1Y: 1.81%
• 3Y*: 11.28%
• 5Y*: 14.12%
• 10Y*: -1.63%

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

EPD vs. NEXT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPD Enterprise Products Partners L.P.	20.66%	9.45%	28.00%	17.71%	18.32%	21.40%	-23.61%	21.88%	-1.32%	4.24%
NEXT NextDecade Corporation	60.53%	-31.65%	61.64%	-3.44%	73.33%	36.36%	-65.96%	13.70%	-35.10%	-17.79%

Correlation

The correlation between EPD and NEXT is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jun 4, 2015	0.23

The correlation between EPD and NEXT shifts across timeframes, from 0.23 (all time) to 0.34 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap EPD : $82.06B NEXT : $2.24B
EPS EPD : $2.69 NEXT : -$1.35
Total Revenue (TTM) EPD : $51.57B NEXT : $0.00
Gross Profit (TTM) EPD : $7.31B NEXT : -$15.67M
EBITDA (TTM) EPD : $10.11B NEXT : -$271.66M

Return for Risk

EPD vs. NEXT — Risk / Return Rank

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

EPD

EPD Risk / Return Rank: 85
EPD Sharpe Ratio Rank: 86
EPD Sortino Ratio Rank: 83
EPD Omega Ratio Rank: 82
EPD Calmar Ratio Rank: 87
EPD Martin Ratio Rank: 89

NEXT

NEXT Risk / Return Rank: 43
NEXT Sharpe Ratio Rank: 44
NEXT Sortino Ratio Rank: 43
NEXT Omega Ratio Rank: 43
NEXT Calmar Ratio Rank: 43
NEXT Martin Ratio Rank: 42

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.

EPD vs. NEXT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Enterprise Products Partners L.P. (EPD) and NextDecade Corporation (NEXT). 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.

	EPD	NEXT	Difference
Sharpe ratio: Return per unit of total volatility	1.74	0.03	+1.71
Sortino ratio: Return per unit of downside risk	2.49	0.51	+1.99
Omega ratio: Gain probability vs. loss probability	1.31	1.06	+0.25
Calmar ratio: Return relative to maximum drawdown	3.63	0.03	+3.60
Martin ratio: Return relative to average drawdown	11.00	0.04	+10.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EPD vs. NEXT - Sharpe Ratio Comparison

The current EPD Sharpe Ratio is 1.74, which is higher than the NEXT Sharpe Ratio of 0.03. The chart below compares the historical Sharpe Ratios of EPD and NEXT, 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

	EPD	NEXT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	0.03	+1.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.98	0.19	+0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	-0.02	+0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	-0.02	+0.55

Drawdowns

EPD vs. NEXT - Drawdown Comparison

The maximum EPD drawdown since its inception was -58.78%, smaller than the maximum NEXT drawdown of -88.79%. Use the drawdown chart below to compare losses from any high point for EPD and NEXT.

Drawdown Indicators

	EPD	NEXT	Difference
Max Drawdown Largest peak-to-trough decline	-58.78%	-88.79%	+30.01%
Max Drawdown (1Y) Largest decline over 1 year	-7.56%	-60.00%	+52.44%
Max Drawdown (3Y) Largest decline over 3 years	-15.40%	-60.00%	+44.60%
Max Drawdown (5Y) Largest decline over 5 years	-18.06%	-60.00%	+41.94%
Max Drawdown (10Y) Largest decline over 10 years	-58.04%	-88.79%	+30.75%
Current Drawdown Current decline from peak	-5.73%	-29.50%	+23.77%
Average Drawdown Average peak-to-trough decline	-10.13%	-39.04%	+28.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	40.88%	-38.39%

Volatility

EPD vs. NEXT - Volatility Comparison

The current volatility for Enterprise Products Partners L.P. (EPD) is 6.17%, while NextDecade Corporation (NEXT) has a volatility of 14.18%. This indicates that EPD experiences smaller price fluctuations and is considered to be less risky than NEXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPD	NEXT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.17%	14.18%	-8.01%
Volatility (6M) Calculated over the trailing 6-month period	13.16%	46.34%	-33.18%
Volatility (1Y) Calculated over the trailing 1-year period	15.81%	63.74%	-47.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.23%	76.46%	-59.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.16%	87.06%	-62.90%

Dividends

EPD vs. NEXT - Dividend Comparison

EPD's dividend yield for the trailing twelve months is around 5.84%, while NEXT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPD Enterprise Products Partners L.P.	5.84%	6.74%	6.63%	7.51%	7.79%	8.20%	9.09%	6.23%	6.97%	6.29%	5.88%	5.90%
NEXT NextDecade Corporation	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

Frequently Asked Questions

Can I hold both EPD and NEXT in my portfolio?

EPD and NEXT have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPD or NEXT?

NEXT has higher volatility (14.18%) compared to EPD (6.17%). In terms of maximum drawdown, EPD dropped -58.78% vs NEXT's -88.79%.

Which has better risk-adjusted returns?

EPD currently has the higher Sharpe Ratio (1.74 vs 0.03), 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.