ET vs. PAGP
ET (Energy Transfer LP) and PAGP (Plains GP Holdings, L.P.) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, ET returned 10.65%/yr vs 6.15%/yr for PAGP. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
ET vs. PAGP - Performance Comparison
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Returns By Period
In the year-to-date period, ET achieves a 27.45% return, which is significantly lower than PAGP's 40.65% return. Over the past 10 years, ET has outperformed PAGP with an annualized return of 10.65%, while PAGP has yielded a comparatively lower 6.15% annualized return.
ET
- 1D
- -0.20%
- 1M
- 8.16%
- 6M
- 21.13%
- YTD
- 27.45%
- 1Y
- 25.06%
- 3Y*
- 25.05%
- 5Y*
- 24.73%
- 10Y*
- 10.65%
- ALL TIME*
- 13.86%
PAGP
- 1D
- 1.25%
- 1M
- 11.53%
- 6M
- 31.00%
- YTD
- 40.65%
- 1Y
- 40.17%
- 3Y*
- 27.33%
- 5Y*
- 28.54%
- 10Y*
- 6.15%
- ALL TIME*
- -0.14%
ET vs. PAGP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ET Energy Transfer LP | 27.45% | -9.37% | 53.87% | 27.87% | 55.74% | 42.96% | -44.92% | 5.88% | -17.74% | -4.66% |
PAGP Plains GP Holdings, L.P. | 40.65% | 12.69% | 23.64% | 38.09% | 31.78% | 28.97% | -51.17% | 0.30% | -3.49% | -32.11% |
Correlation
The correlation between ET and PAGP is 0.51, 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 | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.60 |
The correlation between ET and PAGP shifts across timeframes, from 0.51 (1 year) to 0.67 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
ET:
$69.79B
PAGP:
$5.13B
ET:
$1.35
PAGP:
$1.98
ET:
15.03
PAGP:
13.12
ET:
0.81
PAGP:
0.21
ET:
1.41
PAGP:
1.43
ET:
$89.38B
PAGP:
$45.26B
ET:
$20.48B
PAGP:
$2.07B
ET:
$13.02B
PAGP:
$2.44B
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Return for Risk
ET vs. PAGP — Risk / Return Rank
ET
PAGP
ET vs. PAGP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Energy Transfer LP (ET) and Plains GP Holdings, L.P. (PAGP). 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 | PAGP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.93 | 2.80 | +0.14 |
| Martin ratioReturn relative to average drawdown | 6.38 | 7.50 | -1.12 |
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Drawdowns
ET vs. PAGP - Drawdown Comparison
The maximum ET drawdown since its inception was -87.81%, smaller than the maximum PAGP drawdown of -94.21%. Use the drawdown chart below to compare losses from any high point for ET and PAGP.
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Drawdown Indicators
| ET | PAGP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.81% | -94.21% | +6.40% |
Max Drawdown (1Y)Largest decline over 1 year | -8.59% | -14.44% | +5.85% |
Max Drawdown (3Y)Largest decline over 3 years | -24.56% | -21.02% | -3.54% |
Max Drawdown (5Y)Largest decline over 5 years | -24.56% | -22.28% | -2.28% |
Max Drawdown (10Y)Largest decline over 10 years | -72.82% | -88.04% | +15.22% |
Current DrawdownCurrent decline from peak | -0.54% | -30.88% | +30.34% |
Average DrawdownAverage peak-to-trough decline | -25.63% | -57.51% | +31.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 5.37% | -1.43% |
Volatility
ET vs. PAGP - Volatility Comparison
Energy Transfer LP (ET) and Plains GP Holdings, L.P. (PAGP) have volatilities of 5.26% and 5.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ET | PAGP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.26% | 5.23% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 12.38% | 13.89% | -1.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.37% | 17.87% | -1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.40% | 26.86% | -2.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.30% | 41.31% | -7.01% |
Dividends
ET vs. PAGP - Dividend Comparison
ET's dividend yield for the trailing twelve months is around 6.58%, more than PAGP's 6.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ET Energy Transfer LP | 6.58% | 7.97% | 6.51% | 8.95% | 7.33% | 7.41% | 17.27% | 9.51% | 9.24% | 6.66% | 5.90% | 7.42% |
PAGP Plains GP Holdings, L.P. | 6.15% | 7.94% | 6.91% | 6.71% | 6.69% | 7.10% | 10.65% | 7.28% | 5.97% | 8.88% | 6.91% | 9.34% |
Financials
ET vs. PAGP - Financials Comparison
This section allows you to compare key financial metrics between Energy Transfer LP and Plains GP Holdings, L.P.. 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. PAGP - 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%.
PAGP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Plains GP Holdings, L.P. reported a gross profit of 0.00 and revenue of 12.47B. Therefore, the gross margin over that period was 0.0%.
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%.
PAGP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Plains GP Holdings, L.P. reported an operating income of 405.00M and revenue of 12.47B, resulting in an operating margin of 3.3%.
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%.
PAGP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Plains GP Holdings, L.P. reported a net income of 551.00M and revenue of 12.47B, resulting in a net margin of 4.4%.
Frequently Asked Questions
ET and PAGP have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ET has higher volatility (5.26%) compared to PAGP (5.23%). In terms of maximum drawdown, ET dropped -87.81% vs PAGP's -94.21%.
PAGP currently has the higher Sharpe Ratio (2.26 vs 1.54), 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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