ETN vs. GWW

Last updated Jun 4, 2026

ETN (Eaton Corporation plc) and GWW (W.W. Grainger, Inc.) are both stocks. Both are in the Industrials sector — ETN in Specialty Industrial Machinery, GWW in Industrial Distribution. Over the past 10 years, ETN returned 24.08%/yr vs 20.70%/yr for GWW. At a 0.46 correlation, their price movements are largely independent.

Performance

ETN vs. GWW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Corporation plc (ETN) and W.W. Grainger, Inc. (GWW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETN achieves a 33.02% return, which is significantly higher than GWW's 27.77% return. Over the past 10 years, ETN has outperformed GWW with an annualized return of 24.08%, while GWW has yielded a comparatively lower 20.70% annualized return.

ETN

• 1D: 0.86%
• 1M: -0.02%
• YTD: 33.02%
• 6M: 26.26%
• 1Y: 30.76%
• 3Y*: 32.92%
• 5Y*: 25.16%
• 10Y*: 24.08%

GWW

• 1D: 1.25%
• 1M: 12.67%
• YTD: 27.77%
• 6M: 32.75%
• 1Y: 19.06%
• 3Y*: 24.81%
• 5Y*: 23.81%
• 10Y*: 20.70%

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

ETN vs. GWW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ETN Eaton Corporation plc	33.02%	-2.79%	39.51%	56.22%	-7.18%	46.70%	29.88%	42.76%	-10.04%	21.54%
GWW W.W. Grainger, Inc.	27.77%	-3.41%	28.21%	50.53%	8.75%	28.80%	22.85%	22.25%	21.69%	4.35%

Correlation

The correlation between ETN and GWW is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Dec 18, 1984	0.46

The correlation between ETN and GWW shifts across timeframes, from 0.35 (1 year) to 0.54 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap ETN : $163.93B GWW : $60.87B
EPS ETN : $10.22 GWW : $37.26
PE Ratio ETN : 41.19 GWW : 34.47
PEG Ratio ETN : 2.24 GWW : 1.99
PS Ratio ETN : 5.76 GWW : 3.34
PB Ratio ETN : 8.29 GWW : 15.49
Total Revenue (TTM) ETN : $28.52B GWW : $18.38B
Gross Profit (TTM) ETN : $7.87B GWW : $7.20B
EBITDA (TTM) ETN : $4.75B GWW : $2.82B

Return for Risk

ETN vs. GWW — Risk / Return Rank

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

ETN

ETN Risk / Return Rank: 67
ETN Sharpe Ratio Rank: 70
ETN Sortino Ratio Rank: 63
ETN Omega Ratio Rank: 62
ETN Calmar Ratio Rank: 69
ETN Martin Ratio Rank: 69

GWW

GWW Risk / Return Rank: 61
GWW Sharpe Ratio Rank: 65
GWW Sortino Ratio Rank: 57
GWW Omega Ratio Rank: 59
GWW Calmar Ratio Rank: 64
GWW Martin Ratio Rank: 61

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.

ETN vs. GWW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Corporation plc (ETN) and W.W. Grainger, Inc. (GWW). 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.

	ETN	GWW	Difference
Sharpe ratio Return per unit of total volatility	0.97	0.77	+0.19
Sortino ratio Return per unit of downside risk	1.45	1.17	+0.28
Omega ratio Gain probability vs. loss probability	1.18	1.17	+0.02
Calmar ratio Return relative to maximum drawdown	1.61	1.22	+0.40
Martin ratio Return relative to average drawdown	3.53	2.31	+1.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETN vs. GWW - Sharpe Ratio Comparison

The current ETN Sharpe Ratio is 0.97, which is comparable to the GWW Sharpe Ratio of 0.77. The chart below compares the historical Sharpe Ratios of ETN and GWW, 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

	ETN	GWW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.97	0.77	+0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.85	0.97	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.73	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.56	-0.13

Drawdowns

ETN vs. GWW - Drawdown Comparison

The maximum ETN drawdown since its inception was -68.95%, which is greater than GWW's maximum drawdown of -56.73%. Use the drawdown chart below to compare losses from any high point for ETN and GWW.

Drawdown Indicators

	ETN	GWW	Difference
Max Drawdown Largest peak-to-trough decline	-68.95%	-56.73%	-12.22%
Max Drawdown (1Y) Largest decline over 1 year	-19.14%	-15.70%	-3.44%
Max Drawdown (3Y) Largest decline over 3 years	-34.46%	-24.50%	-9.96%
Max Drawdown (5Y) Largest decline over 5 years	-34.46%	-24.50%	-9.96%
Max Drawdown (10Y) Largest decline over 10 years	-44.55%	-41.60%	-2.95%
Current Drawdown Current decline from peak	-2.46%	0.00%	-2.46%
Average Drawdown Average peak-to-trough decline	-14.90%	-11.01%	-3.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.75%	8.29%	+0.46%

Volatility

ETN vs. GWW - Volatility Comparison

Eaton Corporation plc (ETN) has a higher volatility of 12.77% compared to W.W. Grainger, Inc. (GWW) at 7.39%. This indicates that ETN's price experiences larger fluctuations and is considered to be riskier than GWW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETN	GWW	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.77%	7.39%	+5.38%
Volatility (6M) Calculated over the trailing 6-month period	25.11%	18.27%	+6.84%
Volatility (1Y) Calculated over the trailing 1-year period	32.08%	24.82%	+7.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.93%	24.67%	+5.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.96%	28.54%	+1.42%

Dividends

ETN vs. GWW - Dividend Comparison

ETN's dividend yield for the trailing twelve months is around 1.02%, more than GWW's 0.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETN Eaton Corporation plc	1.02%	1.31%	1.13%	1.43%	2.06%	1.76%	1.88%	3.00%	3.85%	3.04%	3.40%	4.23%
GWW W.W. Grainger, Inc.	0.72%	0.88%	0.76%	0.88%	1.22%	1.23%	1.45%	1.68%	1.90%	2.14%	2.08%	2.27%

Financials

ETN vs. GWW - Profitability Comparison

The chart below illustrates the profitability comparison between Eaton Corporation plc and W.W. Grainger, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ETN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported a gross profit of 0.00 and revenue of 7.45B. Therefore, the gross margin over that period was 0.0%.

GWW - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, W.W. Grainger, Inc. reported a gross profit of 1.90B and revenue of 4.74B. Therefore, the gross margin over that period was 40.0%.

ETN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported an operating income of 0.00 and revenue of 7.45B, resulting in an operating margin of 0.0%.

GWW - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, W.W. Grainger, Inc. reported an operating income of 793.00M and revenue of 4.74B, resulting in an operating margin of 16.7%.

ETN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Eaton Corporation plc reported a net income of 866.00M and revenue of 7.45B, resulting in a net margin of 11.6%.

GWW - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, W.W. Grainger, Inc. reported a net income of 555.00M and revenue of 4.74B, resulting in a net margin of 11.7%.

Frequently Asked Questions

Can I hold both ETN and GWW in my portfolio?

ETN and GWW have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ETN or GWW?

ETN has higher volatility (12.77%) compared to GWW (7.39%). In terms of maximum drawdown, ETN dropped -68.95% vs GWW's -56.73%.

Which has better risk-adjusted returns?

ETN currently has the higher Sharpe Ratio (0.97 vs 0.77), 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.