ETN vs. IONQ

Last updated Jun 13, 2026

ETN (Eaton Corporation plc) and IONQ (IonQ, Inc.) are both stocks. ETN operates in Specialty Industrial Machinery (Industrials), while IONQ operates in Computer Hardware (Technology). Over the past 5 years, ETN returned 23.65%/yr vs 40.49%/yr for IONQ. At a 0.32 correlation, their price movements are largely independent.

Performance

ETN vs. IONQ - Performance Comparison

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

Returns By Period

In the year-to-date period, ETN achieves a 23.61% return, which is significantly lower than IONQ's 28.93% return.

ETN

• 1D: -0.57%
• 1M: -3.82%
• YTD: 23.61%
• 6M: 18.59%
• 1Y: 19.85%
• 3Y*: 28.04%
• 5Y*: 23.65%
• 10Y*: 23.38%

IONQ

• 1D: -0.24%
• 1M: 4.69%
• YTD: 28.93%
• 6M: 14.90%
• 1Y: 49.44%
• 3Y*: 75.90%
• 5Y*: 40.49%
• 10Y*: —

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

ETN vs. IONQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ETN Eaton Corporation plc	23.61%	-2.79%	39.51%	56.22%	-7.18%	46.70%
IONQ IonQ, Inc.	28.93%	7.42%	237.13%	259.13%	-79.34%	50.11%

Correlation

The correlation between ETN and IONQ is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since Jan 4, 2021	0.32

Fundamentals

Market Cap ETN : $152.33B IONQ : $21.48B
EPS ETN : $10.22 IONQ : $0.86
PE Ratio ETN : 38.28 IONQ : 67.11
PS Ratio ETN : 5.36 IONQ : 99.37
PB Ratio ETN : 7.71 IONQ : 4.32
Total Revenue (TTM) ETN : $28.52B IONQ : $187.12M
Gross Profit (TTM) ETN : $7.87B IONQ : $71.25M
EBITDA (TTM) ETN : $4.75B IONQ : $405.86M

Return for Risk

ETN vs. IONQ — Risk / Return Rank

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

ETN

ETN Risk / Return Rank: 61
ETN Sharpe Ratio Rank: 63
ETN Sortino Ratio Rank: 56
ETN Omega Ratio Rank: 56
ETN Calmar Ratio Rank: 64
ETN Martin Ratio Rank: 64

IONQ

IONQ Risk / Return Rank: 61
IONQ Sharpe Ratio Rank: 61
IONQ Sortino Ratio Rank: 66
IONQ Omega Ratio Rank: 62
IONQ Calmar Ratio Rank: 59
IONQ Martin Ratio Rank: 57

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. IONQ - Risk-Adjusted Trends Comparison

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

	ETN	IONQ	Difference
Sharpe ratio: Return per unit of total volatility	0.60	0.53	+0.06
Sortino ratio: Return per unit of downside risk	1.00	1.43	-0.43
Omega ratio: Gain probability vs. loss probability	1.13	1.16	-0.03
Calmar ratio: Return relative to maximum drawdown	1.04	0.73	+0.31
Martin ratio: Return relative to average drawdown	2.25	1.33	+0.91

ETN vs. IONQ - Sharpe Ratio Comparison

The current ETN Sharpe Ratio is 0.60, which is comparable to the IONQ Sharpe Ratio of 0.53. The chart below compares the historical Sharpe Ratios of ETN and IONQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ETN vs. IONQ - Drawdown Comparison

The maximum ETN drawdown since its inception was -68.95%, smaller than the maximum IONQ drawdown of -90.00%. Use the drawdown chart below to compare losses from any high point for ETN and IONQ.

Drawdown Indicators

	ETN	IONQ	Difference
Max Drawdown Largest peak-to-trough decline	-68.95%	-90.00%	+21.05%
Max Drawdown (1Y) Largest decline over 1 year	-19.14%	-67.61%	+48.47%
Max Drawdown (3Y) Largest decline over 3 years	-34.46%	-67.61%	+33.15%
Max Drawdown (5Y) Largest decline over 5 years	-34.46%	-90.00%	+55.54%
Max Drawdown (10Y) Largest decline over 10 years	-44.55%	—	—
Current Drawdown Current decline from peak	-9.36%	-29.53%	+20.17%
Average Drawdown Average peak-to-trough decline	-14.89%	-50.88%	+35.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.86%	37.20%	-28.34%

Volatility

ETN vs. IONQ - Volatility Comparison

The current volatility for Eaton Corporation plc (ETN) is 13.57%, while IonQ, Inc. (IONQ) has a volatility of 31.60%. This indicates that ETN experiences smaller price fluctuations and is considered to be less risky than IONQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETN	IONQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.57%	31.60%	-18.03%
Volatility (6M) Calculated over the trailing 6-month period	26.78%	68.80%	-42.02%
Volatility (1Y) Calculated over the trailing 1-year period	33.48%	93.28%	-59.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.24%	100.48%	-70.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.10%	97.53%	-67.43%

Dividends

ETN vs. IONQ - Dividend Comparison

ETN's dividend yield for the trailing twelve months is around 1.09%, while IONQ has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETN Eaton Corporation plc	1.09%	1.31%	1.13%	1.43%	2.06%	1.76%	1.88%	3.00%	3.85%	3.04%	3.40%	4.23%
IONQ IonQ, Inc.	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 ETN and IONQ in my portfolio?

ETN and IONQ have a correlation of 0.29, 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 IONQ?

IONQ has higher volatility (31.60%) compared to ETN (13.57%). In terms of maximum drawdown, ETN dropped -68.95% vs IONQ's -90.00%.

Which has better risk-adjusted returns?

ETN currently has the higher Sharpe Ratio (0.60 vs 0.53), 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.