GWH vs. GRID

Last updated Aug 1, 2026

GWH (ESS Tech, Inc.) is a stock, while GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) is Infrastructure Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. Over the past 5 years, GWH returned -65.34%/yr vs 14.46%/yr for GRID. Their 0.36 correlation means their historical movements had little consistent relationship.

Performance

GWH vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ESS Tech, Inc. (GWH) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GWH achieves a -60.27% return, which is significantly lower than GRID's 17.75% return.

GWH

• 1D: -1.53%
• 1M: -13.44%
• 6M: -57.31%
• YTD: -60.27%
• 1Y: -56.32%
• 3Y*: -69.92%
• 5Y*: -65.34%
• 10Y*: —
• ALL TIME*: -61.55%

GRID

• 1D: 1.53%
• 1M: -2.62%
• 6M: 9.29%
• YTD: 17.75%
• 1Y: 28.13%
• 3Y*: 20.65%
• 5Y*: 14.46%
• 10Y*: 18.38%
• ALL TIME*: 12.51%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	$98.53M	$102.24M	$137.97M
GWH ESS Tech, Inc.	$579.06K	$560.59K	$768.83K

GWH vs. GRID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GWH ESS Tech, Inc.	-60.27%	-68.03%	-65.61%	-53.09%	-78.76%	12.16%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	17.75%	29.65%	15.18%	21.57%	-13.89%	27.65%

Correlation

The correlation between GWH and GRID is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (3Y) Balances recent behavior with more history.	0.34
Correlation (5Y) Shows whether the relationship held over a longer period.	0.37
Correlation (All Time) Calculated using the full available price history since Jan 4, 2021	0.36

Return for Risk

GWH vs. GRID — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GWH

GWH Risk / Return Rank: 36
GWH Sharpe Ratio Rank: 31
GWH Sortino Ratio Rank: 52
GWH Omega Ratio Rank: 51
GWH Calmar Ratio Rank: 19
GWH Martin Ratio Rank: 28

GRID

GRID Risk / Return Rank: 49
GRID Sharpe Ratio Rank: 48
GRID Sortino Ratio Rank: 47
GRID Omega Ratio Rank: 47
GRID Calmar Ratio Rank: 49
GRID Martin Ratio Rank: 53

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GWH vs. GRID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ESS Tech, Inc. (GWH) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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.

	GWH	GRID	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	1.18	-1.47
Sortino ratio: Return per unit of downside risk	0.76	1.69	-0.93
Omega ratio: Gain probability vs. loss probability	1.09	1.22	-0.13
Calmar ratio: Return relative to maximum drawdown	-0.66	1.73	-2.39
Martin ratio: Return relative to average drawdown	-0.83	6.17	-7.00

GWH vs. GRID - Sharpe Ratio Comparison

The current GWH Sharpe Ratio is -0.28, which is lower than the GRID Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of GWH and GRID, 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

GWH vs. GRID - Drawdown Comparison

The maximum GWH drawdown since its inception was -99.80%, which is greater than GRID's maximum drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for GWH and GRID.

Drawdown Indicators

	GWH	GRID	Difference
Max Drawdown Largest peak-to-trough decline	-99.80%	-40.56%	-59.24%
Max Drawdown (1Y) Largest decline over 1 year	-92.10%	-15.82%	-76.28%
Max Drawdown (3Y) Largest decline over 3 years	-97.61%	-20.62%	-76.99%
Max Drawdown (5Y) Largest decline over 5 years	-99.80%	-29.64%	-70.16%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.56%	—
Current Drawdown Current decline from peak	-99.79%	-9.87%	-89.92%
Average Drawdown Average peak-to-trough decline	-79.36%	-8.42%	-70.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	73.11%	4.42%	+68.69%

Volatility

GWH vs. GRID - Volatility Comparison

ESS Tech, Inc. (GWH) has a higher volatility of 33.80% compared to First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) at 8.92%. This indicates that GWH's price experiences larger fluctuations and is considered to be riskier than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GWH	GRID	Difference
Volatility (1M) Calculated over the trailing 1-month period	33.80%	8.92%	+24.88%
Volatility (6M) Calculated over the trailing 6-month period	74.53%	20.34%	+54.19%
Volatility (1Y) Calculated over the trailing 1-year period	215.17%	23.07%	+192.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	154.61%	21.71%	+132.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	146.43%	22.81%	+123.62%

Dividends

GWH vs. GRID - Dividend Comparison

GWH has not paid dividends to shareholders, while GRID's dividend yield for the trailing twelve months is around 0.80%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	0.80%	1.01%	1.06%	1.23%	1.26%	0.63%	0.68%	1.26%	1.28%	1.07%	1.07%	1.23%
GWH ESS Tech, 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%

Frequently Asked Questions

Can I hold both GWH and GRID in my portfolio?

GWH and GRID 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, GWH or GRID?

GWH has higher volatility (33.80%) compared to GRID (8.92%). In terms of maximum drawdown, GWH dropped -99.80% vs GRID's -40.56%.

Which has better risk-adjusted returns?

GRID currently has the higher Sharpe Ratio (1.18 vs -0.28), 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.