JPM vs. ENPH

Last updated Jul 21, 2026

JPM (JPMorgan Chase & Co.) and ENPH (Enphase Energy, Inc.) are both stocks. JPM operates in Banks - Diversified (Financial Services), while ENPH operates in Solar (Technology). Over the past 10 years, JPM returned 21.27%/yr vs 35.80%/yr for ENPH. At a 0.21 correlation, their price movements are largely independent.

Performance

JPM vs. ENPH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Chase & Co. (JPM) and Enphase Energy, Inc. (ENPH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPM achieves a 6.66% return, which is significantly lower than ENPH's 23.12% return. Over the past 10 years, JPM has underperformed ENPH with an annualized return of 21.27%, while ENPH has yielded a comparatively higher 35.80% annualized return.

JPM

• 1D: -0.65%
• 1M: 4.67%
• 6M: 9.49%
• YTD: 6.66%
• 1Y: 18.57%
• 3Y*: 32.69%
• 5Y*: 20.23%
• 10Y*: 21.27%
• ALL TIME*: 12.35%

ENPH

• 1D: -5.08%
• 1M: -24.52%
• 6M: 12.81%
• YTD: 23.12%
• 1Y: -0.30%
• 3Y*: -39.42%
• 5Y*: -26.16%
• 10Y*: 35.80%
• ALL TIME*: 12.31%

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

JPM vs. ENPH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JPM JPMorgan Chase & Co.	6.66%	37.27%	44.29%	30.63%	-12.64%	27.75%	-5.53%	47.26%	-6.62%	26.76%
ENPH Enphase Energy, Inc.	23.12%	-53.33%	-48.02%	-50.13%	44.83%	4.26%	571.53%	452.43%	96.27%	138.61%

Correlation

The correlation between JPM and ENPH is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Mar 30, 2012	0.21

Fundamentals

Market Cap JPM : $908.01B ENPH : $5.20B
EPS JPM : $23.29 ENPH : $0.92
PE Ratio JPM : 14.55 ENPH : 42.86
PEG Ratio JPM : 1.61 ENPH : 0.98
PS Ratio JPM : 3.18 ENPH : 3.74
PB Ratio JPM : 2.68 ENPH : 4.70
Total Revenue (TTM) JPM : $297.63B ENPH : $1.40B
Gross Profit (TTM) JPM : $186.33B ENPH : $619.16M
EBITDA (TTM) JPM : $90.84B ENPH : $189.48M

Return for Risk

JPM vs. ENPH — Risk / Return Rank

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

JPM

JPM Risk / Return Rank: 68
JPM Sharpe Ratio Rank: 72
JPM Sortino Ratio Rank: 65
JPM Omega Ratio Rank: 64
JPM Calmar Ratio Rank: 70
JPM Martin Ratio Rank: 70

ENPH

ENPH Risk / Return Rank: 47
ENPH Sharpe Ratio Rank: 45
ENPH Sortino Ratio Rank: 51
ENPH Omega Ratio Rank: 50
ENPH Calmar Ratio Rank: 45
ENPH Martin Ratio Rank: 45

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.

JPM vs. ENPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Chase & Co. (JPM) and Enphase Energy, Inc. (ENPH). 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.

	JPM	ENPH	Difference
Sharpe ratio: Return per unit of total volatility	0.84	-0.00	+0.85
Sortino ratio: Return per unit of downside risk	1.25	0.65	+0.59
Omega ratio: Gain probability vs. loss probability	1.16	1.08	+0.08
Calmar ratio: Return relative to maximum drawdown	1.21	-0.01	+1.21
Martin ratio: Return relative to average drawdown	2.85	-0.01	+2.86

JPM vs. ENPH - Sharpe Ratio Comparison

The current JPM Sharpe Ratio is 0.84, which is higher than the ENPH Sharpe Ratio of -0.00. The chart below compares the historical Sharpe Ratios of JPM and ENPH, 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

JPM vs. ENPH - Drawdown Comparison

The maximum JPM drawdown since its inception was -76.16%, smaller than the maximum ENPH drawdown of -95.97%. Use the drawdown chart below to compare losses from any high point for JPM and ENPH.

Drawdown Indicators

	JPM	ENPH	Difference
Max Drawdown Largest peak-to-trough decline	-76.16%	-95.97%	+19.81%
Max Drawdown (1Y) Largest decline over 1 year	-15.47%	-45.44%	+29.97%
Max Drawdown (3Y) Largest decline over 3 years	-24.42%	-85.45%	+61.03%
Max Drawdown (5Y) Largest decline over 5 years	-38.77%	-92.23%	+53.46%
Max Drawdown (10Y) Largest decline over 10 years	-43.63%	-92.23%	+48.60%
Current Drawdown Current decline from peak	-2.32%	-88.26%	+85.94%
Average Drawdown Average peak-to-trough decline	-17.58%	-50.81%	+33.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.53%	23.47%	-16.94%

Volatility

JPM vs. ENPH - Volatility Comparison

The current volatility for JPMorgan Chase & Co. (JPM) is 6.42%, while Enphase Energy, Inc. (ENPH) has a volatility of 21.42%. This indicates that JPM experiences smaller price fluctuations and is considered to be less risky than ENPH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPM	ENPH	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.42%	21.42%	-15.00%
Volatility (6M) Calculated over the trailing 6-month period	16.66%	69.37%	-52.71%
Volatility (1Y) Calculated over the trailing 1-year period	22.17%	83.92%	-61.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.41%	70.62%	-46.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.31%	78.38%	-51.07%

Dividends

JPM vs. ENPH - Dividend Comparison

JPM's dividend yield for the trailing twelve months is around 1.77%, while ENPH has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENPH Enphase Energy, 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%
JPM JPMorgan Chase & Co.	1.77%	1.72%	1.92%	2.38%	2.98%	2.34%	2.83%	2.37%	2.54%	1.91%	2.13%	2.54%

Financials

JPM vs. ENPH - Profitability Comparison

The chart below illustrates the profitability comparison between JPMorgan Chase & Co. and Enphase Energy, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

Portfolio components

JPM - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, JPMorgan Chase & Co. reported a gross profit of 54.83B and revenue of 82.46B. Therefore, the gross margin over that period was 66.5%.

ENPH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Enphase Energy, Inc. reported a gross profit of 100.39M and revenue of 282.90M. Therefore, the gross margin over that period was 35.5%.

JPM - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, JPMorgan Chase & Co. reported an operating income of 27.52B and revenue of 82.46B, resulting in an operating margin of 33.4%.

ENPH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Enphase Energy, Inc. reported an operating income of -29.64M and revenue of 282.90M, resulting in an operating margin of -10.5%.

JPM - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, JPMorgan Chase & Co. reported a net income of 21.16B and revenue of 82.46B, resulting in a net margin of 25.7%.

ENPH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Enphase Energy, Inc. reported a net income of -20.31M and revenue of 282.90M, resulting in a net margin of -7.2%.

Frequently Asked Questions

Can I hold both JPM and ENPH in my portfolio?

JPM and ENPH have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPM or ENPH?

ENPH has higher volatility (21.42%) compared to JPM (6.42%). In terms of maximum drawdown, JPM dropped -76.16% vs ENPH's -95.97%.

Which has better risk-adjusted returns?

JPM currently has the higher Sharpe Ratio (0.84 vs -0.00), 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.