ET vs. WES
Compare and contrast key facts about Energy Transfer LP (ET) and Western Midstream Partners, LP (WES).
Performance
ET vs. WES - Performance Comparison
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ET vs. WES - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ET Energy Transfer LP | 19.24% | -9.37% | 53.87% | 27.87% | 55.74% | 42.96% | -44.92% | 5.88% | -17.74% | -4.66% |
WES Western Midstream Partners, LP | 6.57% | 12.77% | 43.58% | 19.46% | 29.29% | 72.31% | -19.13% | -22.65% | -20.23% | -8.01% |
Fundamentals
ET:
$70.45B
WES:
$16.57B
ET:
$1.37
WES:
$3.03
ET:
14.10
WES:
13.57
ET:
0.84
WES:
4.17
ET:
1.44
WES:
3.98
ET:
$82.63B
WES:
$3.84B
ET:
$18.01B
WES:
$2.93B
ET:
$14.93B
WES:
$2.11B
Returns By Period
In the year-to-date period, ET achieves a 19.24% return, which is significantly higher than WES's 6.57% return. Over the past 10 years, ET has outperformed WES with an annualized return of 20.51%, while WES has yielded a comparatively lower 10.75% annualized return.
ET
- 1D
- -1.48%
- 1M
- 2.44%
- YTD
- 19.24%
- 6M
- 16.88%
- 1Y
- 12.07%
- 3Y*
- 25.52%
- 5Y*
- 29.51%
- 10Y*
- 20.51%
WES
- 1D
- -1.08%
- 1M
- -1.01%
- YTD
- 6.57%
- 6M
- 9.73%
- 1Y
- 10.36%
- 3Y*
- 27.25%
- 5Y*
- 26.64%
- 10Y*
- 10.75%
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Return for Risk
ET vs. WES — Risk / Return Rank
ET
WES
ET vs. WES - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Energy Transfer LP (ET) and Western Midstream Partners, LP (WES). 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.
| ET | WES | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.51 | 0.45 | +0.06 |
Sortino ratioReturn per unit of downside risk | 0.86 | 0.72 | +0.13 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.10 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.65 | 0.57 | +0.09 |
Martin ratioReturn relative to average drawdown | 1.82 | 1.74 | +0.08 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ET | WES | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.51 | 0.45 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.17 | 0.91 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.23 | +0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.22 | +0.13 |
Correlation
The correlation between ET and WES is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
ET vs. WES - Dividend Comparison
ET's dividend yield for the trailing twelve months is around 6.87%, less than WES's 8.84% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ET Energy Transfer LP | 6.87% | 7.97% | 6.51% | 8.95% | 7.33% | 7.41% | 17.27% | 9.51% | 9.24% | 6.66% | 5.90% | 7.42% |
WES Western Midstream Partners, LP | 8.84% | 9.13% | 8.33% | 8.52% | 6.80% | 5.69% | 11.25% | 12.45% | 8.28% | 5.43% | 4.03% | 3.86% |
Drawdowns
ET vs. WES - Drawdown Comparison
The maximum ET drawdown since its inception was -87.81%, smaller than the maximum WES drawdown of -93.66%. Use the drawdown chart below to compare losses from any high point for ET and WES.
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Drawdown Indicators
| ET | WES | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.81% | -93.66% | +5.85% |
Max Drawdown (1Y)Largest decline over 1 year | -17.33% | -15.91% | -1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -25.82% | -23.54% | -2.28% |
Max Drawdown (10Y)Largest decline over 10 years | -72.82% | -91.90% | +19.08% |
Current DrawdownCurrent decline from peak | -1.88% | -6.22% | +4.34% |
Average DrawdownAverage peak-to-trough decline | -25.95% | -28.86% | +2.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.24% | 5.19% | +1.05% |
Volatility
ET vs. WES - Volatility Comparison
The current volatility for Energy Transfer LP (ET) is 4.96%, while Western Midstream Partners, LP (WES) has a volatility of 5.82%. This indicates that ET experiences smaller price fluctuations and is considered to be less risky than WES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ET | WES | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.96% | 5.82% | -0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 11.68% | 14.07% | -2.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.80% | 23.20% | +0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.48% | 29.59% | -4.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.63% | 46.92% | -10.29% |
Financials
ET vs. WES - Financials Comparison
This section allows you to compare key financial metrics between Energy Transfer LP and Western Midstream Partners, LP. 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. WES - Profitability Comparison
ET - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Energy Transfer LP reported a gross profit of 5.78B and revenue of 22.41B. Therefore, the gross margin over that period was 25.8%.
WES - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Western Midstream Partners, LP reported a gross profit of 805.90M and revenue of 1.03B. Therefore, the gross margin over that period was 78.1%.
ET - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Energy Transfer LP reported an operating income of 2.37B and revenue of 22.41B, resulting in an operating margin of 10.6%.
WES - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Western Midstream Partners, LP reported an operating income of 305.56M and revenue of 1.03B, resulting in an operating margin of 29.6%.
ET - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Energy Transfer LP reported a net income of 1.46B and revenue of 22.41B, resulting in a net margin of 6.5%.
WES - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Western Midstream Partners, LP reported a net income of 198.57M and revenue of 1.03B, resulting in a net margin of 19.3%.