ET vs. KMI
ET (Energy Transfer LP) and KMI (Kinder Morgan, Inc.) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, ET returned 10.62%/yr vs 9.93%/yr for KMI. Their 0.53 correlation means they have sometimes moved together and sometimes differently.
Performance
ET vs. KMI - Performance Comparison
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Returns By Period
In the year-to-date period, ET achieves a 25.13% return, which is significantly higher than KMI's 17.69% return. Over the past 10 years, ET has outperformed KMI with an annualized return of 10.62%, while KMI has yielded a comparatively lower 9.93% annualized return.
ET
- 1D
- -2.21%
- 1M
- 3.86%
- 6M
- 14.88%
- YTD
- 25.13%
- 1Y
- 21.05%
- 3Y*
- 23.98%
- 5Y*
- 24.32%
- 10Y*
- 10.62%
- ALL TIME*
- 13.75%
KMI
- 1D
- -3.38%
- 1M
- -4.34%
- 6M
- 10.27%
- YTD
- 17.69%
- 1Y
- 20.72%
- 3Y*
- 27.46%
- 5Y*
- 18.68%
- 10Y*
- 9.93%
- ALL TIME*
- 4.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $172.40M | $166.69M | $213.15M | |
| $321.44M | $310.73M | $324.21M |
ET vs. KMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ET Energy Transfer LP | 25.13% | -9.37% | 53.87% | 27.87% | 55.74% | 42.96% | -44.92% | 5.88% | -17.74% | -4.66% |
KMI Kinder Morgan, Inc. | 17.69% | 4.74% | 64.42% | 4.10% | 21.23% | 23.75% | -30.77% | 44.43% | -11.18% | -10.56% |
Correlation
The correlation between ET and KMI is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.55 |
Correlation (3Y) Balances recent behavior with more history. | 0.56 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.63 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.59 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2011 | 0.53 |
The correlation between ET and KMI has been stable across timeframes, ranging from 0.53 to 0.63 - a consistent structural relationship.
Fundamentals
ET:
$68.51B
KMI:
$70.64B
ET:
$1.35
KMI:
$0.95
ET:
14.76
KMI:
33.34
ET:
0.80
KMI:
4.47
ET:
$89.38B
KMI:
$11.85B
ET:
$20.48B
KMI:
$5.16B
ET:
$13.02B
KMI:
$5.61B
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Return for Risk
ET vs. KMI — Risk / Return Rank
ET
KMI
ET vs. KMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Energy Transfer LP (ET) and Kinder Morgan, Inc. (KMI). 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.
| ET | KMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.19 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 2.06 | +0.40 |
| Martin ratioReturn relative to average drawdown | 5.35 | 4.45 | +0.91 |
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Drawdowns
ET vs. KMI - Drawdown Comparison
The maximum ET drawdown since its inception was -87.81%, which is greater than KMI's maximum drawdown of -72.70%. Use the drawdown chart below to compare losses from any high point for ET and KMI.
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Drawdown Indicators
| ET | KMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.81% | -72.70% | -15.11% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -10.08% | +1.49% |
Max Drawdown (3Y)Largest decline over 3 years | -24.56% | -18.40% | -6.16% |
Max Drawdown (5Y)Largest decline over 5 years | -24.56% | -20.31% | -4.25% |
Max Drawdown (10Y)Largest decline over 10 years | -72.82% | -55.13% | -17.69% |
Current DrawdownCurrent decline from peak | -2.50% | -7.46% | +4.96% |
Average DrawdownAverage peak-to-trough decline | -25.60% | -31.86% | +6.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 4.67% | -0.73% |
Volatility
ET vs. KMI - Volatility Comparison
The current volatility for Energy Transfer LP (ET) is 5.30%, while Kinder Morgan, Inc. (KMI) has a volatility of 6.16%. This indicates that ET experiences smaller price fluctuations and is considered to be less risky than KMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ET | KMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.30% | 6.16% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 12.28% | 14.37% | -2.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.40% | 20.26% | -3.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.38% | 22.42% | +1.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.27% | 27.48% | +6.79% |
Dividends
ET vs. KMI - Dividend Comparison
ET's dividend yield for the trailing twelve months is around 6.71%, more than KMI's 3.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ET Energy Transfer LP | 6.71% | 7.97% | 6.51% | 8.95% | 7.33% | 7.41% | 17.27% | 9.51% | 9.24% | 6.66% | 5.90% | 7.42% |
KMI Kinder Morgan, Inc. | 3.70% | 4.24% | 4.18% | 6.38% | 6.10% | 6.76% | 7.59% | 4.49% | 4.71% | 2.77% | 2.41% | 12.94% |
Financials
ET vs. KMI - Financials Comparison
This section allows you to compare key financial metrics between Energy Transfer LP and Kinder Morgan, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
ET vs. KMI - Profitability Comparison
ET - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Energy Transfer LP reported a gross profit of 6.62B and revenue of 27.77B. Therefore, the gross margin over that period was 23.9%.
KMI - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Kinder Morgan, Inc. reported a gross profit of -1.63B and revenue of -1.63B. Therefore, the gross margin over that period was 100.0%.
ET - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Energy Transfer LP reported an operating income of 2.98B and revenue of 27.77B, resulting in an operating margin of 10.7%.
KMI - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Kinder Morgan, Inc. reported an operating income of -1.44B and revenue of -1.63B, resulting in an operating margin of 88.7%.
ET - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Energy Transfer LP reported a net income of 1.25B and revenue of 27.77B, resulting in a net margin of 4.5%.
KMI - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Kinder Morgan, Inc. reported a net income of -1.01B and revenue of -1.63B, resulting in a net margin of 62.1%.
Frequently Asked Questions
ET and KMI have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KMI has higher volatility (6.16%) compared to ET (5.30%). In terms of maximum drawdown, ET dropped -87.81% vs KMI's -72.70%.
ET currently has the higher Sharpe Ratio (1.29 vs 1.03), 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.
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