NRGV vs. GWH

Last updated Apr 2, 2026

Compare and contrast key facts about Energy Vault Holdings, Inc. (NRGV) and ESS Tech, Inc. (GWH).

Performance

NRGV vs. GWH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Energy Vault Holdings, Inc. (NRGV) and ESS Tech, Inc. (GWH). The values are adjusted to include any dividend payments, if applicable.

NRGV vs. GWH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
NRGV Energy Vault Holdings, Inc.	-26.25%	102.19%	-2.15%	-25.32%	-66.77%
GWH ESS Tech, Inc.	-37.23%	-68.03%	-65.61%	-53.09%	-48.84%

Fundamentals

Market Cap NRGV : $571.14M GWH : $23.52M
EPS NRGV : -$0.64 GWH : -$2.55
PS Ratio NRGV : 2.72 GWH : 11.52
PB Ratio NRGV : 8.47 GWH : 2.73
Total Revenue (TTM) NRGV : $203.67M GWH : $1.58M
Gross Profit (TTM) NRGV : $47.99M GWH : -$27.67M
EBITDA (TTM) NRGV : -$75.02M GWH : -$52.94M

Returns By Period

In the year-to-date period, NRGV achieves a -26.25% return, which is significantly higher than GWH's -37.23% return.

NRGV

• 1D: 3.03%
• 1M: 4.62%
• YTD: -26.25%
• 6M: 5.92%
• 1Y: 285.27%
• 3Y*: 16.69%
• 5Y*: —
• 10Y*: —

GWH

• 1D: 0.85%
• 1M: -26.71%
• YTD: -37.23%
• 6M: -23.87%
• 1Y: -58.60%
• 3Y*: -61.61%
• 5Y*: -61.90%
• 10Y*: —

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

Return for Risk

NRGV vs. GWH — Risk / Return Rank

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

NRGV

NRGV Risk / Return Rank: 93
NRGV Sharpe Ratio Rank: 94
NRGV Sortino Ratio Rank: 90
NRGV Omega Ratio Rank: 87
NRGV Calmar Ratio Rank: 97
NRGV Martin Ratio Rank: 95

GWH

GWH Risk / Return Rank: 37
GWH Sharpe Ratio Rank: 29
GWH Sortino Ratio Rank: 63
GWH Omega Ratio Rank: 59
GWH Calmar Ratio Rank: 15
GWH Martin Ratio Rank: 21

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.

NRGV vs. GWH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Energy Vault Holdings, Inc. (NRGV) and ESS Tech, Inc. (GWH). 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.

	NRGV	GWH	Difference
Sharpe ratio Return per unit of total volatility	2.58	-0.23	+2.82
Sortino ratio Return per unit of downside risk	2.92	1.33	+1.59
Omega ratio Gain probability vs. loss probability	1.36	1.16	+0.20
Calmar ratio Return relative to maximum drawdown	7.64	-0.73	+8.37
Martin ratio Return relative to average drawdown	16.63	-1.07	+17.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NRGV vs. GWH - Sharpe Ratio Comparison

The current NRGV Sharpe Ratio is 2.58, which is higher than the GWH Sharpe Ratio of -0.23. The chart below compares the historical Sharpe Ratios of NRGV and GWH, 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

	NRGV	GWH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	-0.23	+2.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.19	-0.41	+0.22

Correlation

The correlation between NRGV and GWH is 0.31, 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.

Dividends

NRGV vs. GWH - Dividend Comparison

Neither NRGV nor GWH has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

NRGV vs. GWH - Drawdown Comparison

The maximum NRGV drawdown since its inception was -97.09%, roughly equal to the maximum GWH drawdown of -99.77%. Use the drawdown chart below to compare losses from any high point for NRGV and GWH.

Drawdown Indicators

	NRGV	GWH	Difference
Max Drawdown Largest peak-to-trough decline	-97.09%	-99.77%	+2.68%
Max Drawdown (1Y) Largest decline over 1 year	-50.91%	-87.73%	+36.82%
Max Drawdown (5Y) Largest decline over 5 years	—	-99.77%	—
Current Drawdown Current decline from peak	-84.29%	-99.67%	+15.38%
Average Drawdown Average peak-to-trough decline	-82.94%	-78.14%	-4.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.38%	59.63%	-36.25%

Volatility

NRGV vs. GWH - Volatility Comparison

Energy Vault Holdings, Inc. (NRGV) has a higher volatility of 23.14% compared to ESS Tech, Inc. (GWH) at 16.95%. This indicates that NRGV's price experiences larger fluctuations and is considered to be riskier than GWH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NRGV	GWH	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.14%	16.95%	+6.19%
Volatility (6M) Calculated over the trailing 6-month period	74.73%	147.61%	-72.88%
Volatility (1Y) Calculated over the trailing 1-year period	114.20%	251.38%	-137.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	113.69%	151.86%	-38.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	113.69%	148.33%	-34.64%

Financials