HESM vs. SUN

Last updated Jun 9, 2026

HESM (Hess Midstream LP) and SUN (Sunoco LP) are both stocks. Both are in the Energy sector — HESM in Oil & Gas Midstream, SUN in Oil & Gas Refining & Marketing. Over the past 5 years, HESM returned 17.19%/yr vs 20.04%/yr for SUN. At a 0.39 correlation, their price movements are largely independent.

Performance

HESM vs. SUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hess Midstream LP (HESM) and Sunoco LP (SUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HESM achieves a 17.71% return, which is significantly lower than SUN's 28.86% return.

HESM

• 1D: 0.31%
• 1M: 2.02%
• YTD: 17.71%
• 6M: 18.47%
• 1Y: 8.48%
• 3Y*: 19.59%
• 5Y*: 17.19%
• 10Y*: —

SUN

• 1D: -1.15%
• 1M: -2.20%
• YTD: 28.86%
• 6M: 25.56%
• 1Y: 29.97%
• 3Y*: 21.63%
• 5Y*: 20.04%
• 10Y*: 18.61%

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

HESM vs. SUN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HESM Hess Midstream LP	17.71%	0.56%	26.41%	14.36%	16.62%	52.91%	-5.29%	43.83%	-8.61%	-20.37%
SUN Sunoco LP	28.86%	8.88%	-8.59%	49.38%	13.95%	55.26%	6.28%	24.78%	7.71%	29.12%

Correlation

The correlation between HESM and SUN is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Apr 6, 2017	0.39

Fundamentals

Market Cap HESM : $5.03B SUN : $3.38T
EPS HESM : $2.89 SUN : $0.06
PE Ratio HESM : 13.48 SUN : 1.02K
PS Ratio HESM : 3.05 SUN : 42.48
PB Ratio HESM : 13.42 SUN : 1.30K
Total Revenue (TTM) HESM : $1.63B SUN : $20.02B
Gross Profit (TTM) HESM : $1.13B SUN : $1.75B
EBITDA (TTM) HESM : $1.24B SUN : $2.10B

Return for Risk

HESM vs. SUN — Risk / Return Rank

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

HESM

HESM Risk / Return Rank: 50
HESM Sharpe Ratio Rank: 55
HESM Sortino Ratio Rank: 47
HESM Omega Ratio Rank: 47
HESM Calmar Ratio Rank: 50
HESM Martin Ratio Rank: 50

SUN

SUN Risk / Return Rank: 77
SUN Sharpe Ratio Rank: 80
SUN Sortino Ratio Rank: 74
SUN Omega Ratio Rank: 70
SUN Calmar Ratio Rank: 82
SUN Martin Ratio Rank: 82

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.

HESM vs. SUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hess Midstream LP (HESM) and Sunoco LP (SUN). 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.

	HESM	SUN	Difference
Sharpe ratio: Return per unit of total volatility	0.35	1.32	-0.96
Sortino ratio: Return per unit of downside risk	0.62	1.85	-1.23
Omega ratio: Gain probability vs. loss probability	1.09	1.22	-0.13
Calmar ratio: Return relative to maximum drawdown	0.33	2.76	-2.43
Martin ratio: Return relative to average drawdown	0.67	7.02	-6.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HESM vs. SUN - Sharpe Ratio Comparison

The current HESM Sharpe Ratio is 0.35, which is lower than the SUN Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of HESM and SUN, 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

	HESM	SUN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.35	1.32	-0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.85	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.53	-0.19

Drawdowns

HESM vs. SUN - Drawdown Comparison

The maximum HESM drawdown since its inception was -75.16%, which is greater than SUN's maximum drawdown of -65.47%. Use the drawdown chart below to compare losses from any high point for HESM and SUN.

Drawdown Indicators

	HESM	SUN	Difference
Max Drawdown Largest peak-to-trough decline	-75.16%	-65.47%	-9.69%
Max Drawdown (1Y) Largest decline over 1 year	-25.78%	-10.91%	-14.87%
Max Drawdown (3Y) Largest decline over 3 years	-25.78%	-21.29%	-4.49%
Max Drawdown (5Y) Largest decline over 5 years	-28.72%	-21.29%	-7.43%
Max Drawdown (10Y) Largest decline over 10 years	—	-62.94%	—
Current Drawdown Current decline from peak	-4.39%	-9.29%	+4.90%
Average Drawdown Average peak-to-trough decline	-11.78%	-16.31%	+4.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.65%	4.28%	+8.37%

Volatility

HESM vs. SUN - Volatility Comparison

The current volatility for Hess Midstream LP (HESM) is 7.26%, while Sunoco LP (SUN) has a volatility of 8.42%. This indicates that HESM experiences smaller price fluctuations and is considered to be less risky than SUN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HESM	SUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.26%	8.42%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	14.73%	16.61%	-1.88%
Volatility (1Y) Calculated over the trailing 1-year period	24.06%	22.92%	+1.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.34%	23.62%	+3.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.83%	31.75%	+7.08%

Dividends

HESM vs. SUN - Dividend Comparison

HESM's dividend yield for the trailing twelve months is around 7.79%, more than SUN's 5.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HESM Hess Midstream LP	7.79%	8.41%	7.12%	7.50%	7.30%	6.93%	8.86%	6.89%	8.00%	2.93%	0.00%	0.00%
SUN Sunoco LP	5.73%	6.89%	6.74%	5.59%	7.66%	8.09%	11.47%	10.79%	12.14%	11.63%	12.16%	6.78%

Financials

Frequently Asked Questions

Can I hold both HESM and SUN in my portfolio?

HESM and SUN have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HESM or SUN?

SUN has higher volatility (8.42%) compared to HESM (7.26%). In terms of maximum drawdown, HESM dropped -75.16% vs SUN's -65.47%.

Which has better risk-adjusted returns?

SUN currently has the higher Sharpe Ratio (1.32 vs 0.35), 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.