MGEE vs. WEC

Last updated Jun 3, 2026

MGEE (MGE Energy, Inc.) and WEC (WEC Energy Group, Inc.) are both stocks. Both are in the Utilities sector — MGEE in Utilities - Diversified, WEC in Utilities - Regulated Electric. Over the past 10 years, MGEE returned 5.82%/yr vs 9.49%/yr for WEC. At a 0.41 correlation, their price movements are largely independent.

Performance

MGEE vs. WEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MGE Energy, Inc. (MGEE) and WEC Energy Group, Inc. (WEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGEE achieves a -3.97% return, which is significantly lower than WEC's 6.31% return. Over the past 10 years, MGEE has underperformed WEC with an annualized return of 5.82%, while WEC has yielded a comparatively higher 9.49% annualized return.

MGEE

• 1D: 2.44%
• 1M: -7.11%
• YTD: -3.97%
• 6M: -5.19%
• 1Y: -15.65%
• 3Y*: 2.70%
• 5Y*: 1.83%
• 10Y*: 5.82%

WEC

• 1D: 1.50%
• 1M: -5.35%
• YTD: 6.31%
• 6M: 3.72%
• 1Y: 6.26%
• 3Y*: 12.13%
• 5Y*: 6.82%
• 10Y*: 9.49%

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

MGEE vs. WEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGEE MGE Energy, Inc.	-3.97%	-14.75%	32.80%	5.10%	-12.57%	19.90%	-9.30%	34.04%	-2.90%	-1.48%
WEC WEC Energy Group, Inc.	6.31%	15.96%	16.11%	-7.00%	-0.45%	8.66%	2.49%	37.05%	7.87%	17.11%

Correlation

The correlation between MGEE and WEC is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Mar 27, 1990	0.41

The correlation between MGEE and WEC shifts across timeframes, from 0.41 (all time) to 0.66 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MGEE : $2.72B WEC : $36.19B
EPS MGEE : $3.90 WEC : $5.03
PE Ratio MGEE : 19.06 WEC : 21.91
PEG Ratio MGEE : 3.03 WEC : 4.90
PS Ratio MGEE : 3.55 WEC : 3.56
PB Ratio MGEE : 2.18 WEC : 2.56
Total Revenue (TTM) MGEE : $767.39M WEC : $10.08B
Gross Profit (TTM) MGEE : $744.92M WEC : $5.62B
EBITDA (TTM) MGEE : $282.54M WEC : $4.04B

Return for Risk

MGEE vs. WEC — Risk / Return Rank

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

MGEE

MGEE Risk / Return Rank: 9
MGEE Sharpe Ratio Rank: 9
MGEE Sortino Ratio Rank: 11
MGEE Omega Ratio Rank: 12
MGEE Calmar Ratio Rank: 9
MGEE Martin Ratio Rank: 4

WEC

WEC Risk / Return Rank: 50
WEC Sharpe Ratio Rank: 55
WEC Sortino Ratio Rank: 46
WEC Omega Ratio Rank: 44
WEC Calmar Ratio Rank: 53
WEC Martin Ratio Rank: 54

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.

MGEE vs. WEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MGE Energy, Inc. (MGEE) and WEC Energy Group, Inc. (WEC). 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.

	MGEE	WEC	Difference
Sharpe ratio Return per unit of total volatility	-0.77	0.42	-1.19
Sortino ratio Return per unit of downside risk	-0.94	0.69	-1.63
Omega ratio Gain probability vs. loss probability	0.88	1.08	-0.19
Calmar ratio Return relative to maximum drawdown	-0.82	0.54	-1.36
Martin ratio Return relative to average drawdown	-1.55	1.34	-2.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MGEE vs. WEC - Sharpe Ratio Comparison

The current MGEE Sharpe Ratio is -0.77, which is lower than the WEC Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of MGEE and WEC, 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

	MGEE	WEC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.77	0.42	-1.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	0.36	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.44	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.60	-0.22

Drawdowns

MGEE vs. WEC - Drawdown Comparison

The maximum MGEE drawdown since its inception was -33.91%, smaller than the maximum WEC drawdown of -45.06%. Use the drawdown chart below to compare losses from any high point for MGEE and WEC.

Drawdown Indicators

	MGEE	WEC	Difference
Max Drawdown Largest peak-to-trough decline	-33.91%	-45.06%	+11.15%
Max Drawdown (1Y) Largest decline over 1 year	-19.07%	-11.22%	-7.85%
Max Drawdown (3Y) Largest decline over 3 years	-30.88%	-16.01%	-14.87%
Max Drawdown (5Y) Largest decline over 5 years	-30.88%	-26.02%	-4.86%
Max Drawdown (10Y) Largest decline over 10 years	-33.91%	-32.31%	-1.60%
Current Drawdown Current decline from peak	-28.58%	-6.40%	-22.18%
Average Drawdown Average peak-to-trough decline	-7.63%	-8.32%	+0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.14%	4.51%	+5.63%

Volatility

MGEE vs. WEC - Volatility Comparison

MGE Energy, Inc. (MGEE) has a higher volatility of 9.76% compared to WEC Energy Group, Inc. (WEC) at 5.25%. This indicates that MGEE's price experiences larger fluctuations and is considered to be riskier than WEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGEE	WEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.76%	5.25%	+4.51%
Volatility (6M) Calculated over the trailing 6-month period	16.39%	11.34%	+5.05%
Volatility (1Y) Calculated over the trailing 1-year period	20.42%	15.05%	+5.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.31%	19.01%	+4.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.43%	21.60%	+5.83%

Dividends

MGEE vs. WEC - Dividend Comparison

MGEE's dividend yield for the trailing twelve months is around 2.55%, less than WEC's 3.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGEE MGE Energy, Inc.	2.55%	2.36%	1.87%	2.31%	2.26%	1.84%	2.06%	1.75%	2.20%	2.00%	1.85%	2.49%
WEC WEC Energy Group, Inc.	3.35%	3.39%	3.55%	3.71%	3.10%	2.79%	2.75%	2.56%	3.19%	3.13%	3.38%	3.81%

Financials

MGEE vs. WEC - Profitability Comparison

The chart below illustrates the profitability comparison between MGE Energy, Inc. and WEC Energy Group, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MGEE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MGE Energy, Inc. reported a gross profit of 240.24M and revenue of 242.70M. Therefore, the gross margin over that period was 99.0%.

WEC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, WEC Energy Group, Inc. reported a gross profit of 2.04B and revenue of 3.43B. Therefore, the gross margin over that period was 59.5%.

MGEE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MGE Energy, Inc. reported an operating income of 53.15M and revenue of 242.70M, resulting in an operating margin of 21.9%.

WEC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, WEC Energy Group, Inc. reported an operating income of 980.00M and revenue of 3.43B, resulting in an operating margin of 28.5%.

MGEE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MGE Energy, Inc. reported a net income of 48.48M and revenue of 242.70M, resulting in a net margin of 20.0%.

WEC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, WEC Energy Group, Inc. reported a net income of 804.70M and revenue of 3.43B, resulting in a net margin of 23.4%.

Frequently Asked Questions

Can I hold both MGEE and WEC in my portfolio?

MGEE and WEC have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGEE or WEC?

MGEE has higher volatility (9.76%) compared to WEC (5.25%). In terms of maximum drawdown, MGEE dropped -33.91% vs WEC's -45.06%.

Which has better risk-adjusted returns?

WEC currently has the higher Sharpe Ratio (0.42 vs -0.77), 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.