FCEL vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about FuelCell Energy, Inc. (FCEL) and S&P 500 Index (^GSPC).

Performance

FCEL vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FuelCell Energy, Inc. (FCEL) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

FCEL vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCEL FuelCell Energy, Inc.	-11.63%	-19.14%	-81.17%	-42.45%	-46.54%	-53.45%	345.02%	-62.00%	-67.62%	-2.86%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, FCEL achieves a -11.63% return, which is significantly lower than ^GSPC's -3.95% return. Over the past 10 years, FCEL has underperformed ^GSPC with an annualized return of -44.58%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

FCEL

• 1D: -1.07%
• 1M: -22.45%
• YTD: -11.63%
• 6M: -26.00%
• 1Y: 40.74%
• 3Y*: -57.72%
• 5Y*: -56.82%
• 10Y*: -44.58%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

FCEL vs. ^GSPC — Risk / Return Rank

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

FCEL

FCEL Risk / Return Rank: 59
FCEL Sharpe Ratio Rank: 55
FCEL Sortino Ratio Rank: 65
FCEL Omega Ratio Rank: 58
FCEL Calmar Ratio Rank: 60
FCEL Martin Ratio Rank: 55

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

FCEL vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FuelCell Energy, Inc. (FCEL) and S&P 500 Index (^GSPC). 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.

	FCEL	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.39	0.92	-0.52
Sortino ratio Return per unit of downside risk	1.41	1.41	0.00
Omega ratio Gain probability vs. loss probability	1.15	1.21	-0.06
Calmar ratio Return relative to maximum drawdown	0.86	1.41	-0.56
Martin ratio Return relative to average drawdown	1.40	6.61	-5.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCEL vs. ^GSPC - Sharpe Ratio Comparison

The current FCEL Sharpe Ratio is 0.39, which is lower than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of FCEL and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FCEL	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.39	0.92	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.62	0.61	-1.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.37	0.68	-1.05
Sharpe Ratio (All Time) Calculated using the full available price history	-0.23	0.46	-0.69

Correlation

The correlation between FCEL and ^GSPC is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

FCEL vs. ^GSPC - Drawdown Comparison

The maximum FCEL drawdown since its inception was -100.00%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for FCEL and ^GSPC.

Drawdown Indicators

	FCEL	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-100.00%	-56.78%	-43.22%
Max Drawdown (1Y) Largest decline over 1 year	-47.52%	-12.14%	-35.38%
Max Drawdown (5Y) Largest decline over 5 years	-99.13%	-25.43%	-73.70%
Max Drawdown (10Y) Largest decline over 10 years	-99.88%	-33.92%	-65.96%
Current Drawdown Current decline from peak	-100.00%	-5.78%	-94.22%
Average Drawdown Average peak-to-trough decline	-83.75%	-10.75%	-73.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.07%	2.60%	+26.47%

Volatility

FCEL vs. ^GSPC - Volatility Comparison

FuelCell Energy, Inc. (FCEL) has a higher volatility of 18.16% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that FCEL's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCEL	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.16%	5.37%	+12.79%
Volatility (6M) Calculated over the trailing 6-month period	72.56%	9.55%	+63.01%
Volatility (1Y) Calculated over the trailing 1-year period	104.37%	18.33%	+86.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	92.67%	16.90%	+75.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	120.55%	18.05%	+102.50%