PAGP vs. EPD

Last updated Jun 9, 2026

PAGP (Plains GP Holdings, L.P.) and EPD (Enterprise Products Partners L.P.) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, PAGP returned 6.02%/yr vs 10.45%/yr for EPD. A 0.62 correlation means they provide meaningful diversification when combined.

Performance

PAGP vs. EPD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Plains GP Holdings, L.P. (PAGP) and Enterprise Products Partners L.P. (EPD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAGP achieves a 33.60% return, which is significantly higher than EPD's 20.66% return. Over the past 10 years, PAGP has underperformed EPD with an annualized return of 6.02%, while EPD has yielded a comparatively higher 10.45% annualized return.

PAGP

• 1D: 0.70%
• 1M: 6.21%
• YTD: 33.60%
• 6M: 36.96%
• 1Y: 43.47%
• 3Y*: 29.22%
• 5Y*: 22.80%
• 10Y*: 6.02%

EPD

• 1D: -0.77%
• 1M: 0.89%
• YTD: 20.66%
• 6M: 18.26%
• 1Y: 27.33%
• 3Y*: 21.14%
• 5Y*: 16.72%
• 10Y*: 10.45%

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

PAGP vs. EPD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAGP Plains GP Holdings, L.P.	33.60%	12.69%	23.64%	38.09%	31.78%	28.97%	-51.17%	0.30%	-3.49%	-32.11%
EPD Enterprise Products Partners L.P.	20.66%	9.45%	28.00%	17.71%	18.32%	21.40%	-23.61%	21.88%	-1.32%	4.24%

Correlation

The correlation between PAGP and EPD is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Oct 17, 2013	0.62

The correlation between PAGP and EPD shifts across timeframes, from 0.55 (1 year) to 0.65 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap PAGP : $17.39B EPD : $82.06B
EPS PAGP : $2.23 EPD : $2.69
PE Ratio PAGP : 11.03 EPD : 13.93
PEG Ratio PAGP : 0.15 EPD : 2.24
PS Ratio PAGP : 0.18 EPD : 1.59
Total Revenue (TTM) PAGP : $45.26B EPD : $51.57B
Gross Profit (TTM) PAGP : $2.07B EPD : $7.31B
EBITDA (TTM) PAGP : $2.44B EPD : $10.11B

Return for Risk

PAGP vs. EPD — Risk / Return Rank

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

PAGP

PAGP Risk / Return Rank: 88
PAGP Sharpe Ratio Rank: 92
PAGP Sortino Ratio Rank: 91
PAGP Omega Ratio Rank: 89
PAGP Calmar Ratio Rank: 84
PAGP Martin Ratio Rank: 86

EPD

EPD Risk / Return Rank: 85
EPD Sharpe Ratio Rank: 86
EPD Sortino Ratio Rank: 83
EPD Omega Ratio Rank: 82
EPD Calmar Ratio Rank: 87
EPD Martin Ratio Rank: 89

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.

PAGP vs. EPD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Plains GP Holdings, L.P. (PAGP) and Enterprise Products Partners L.P. (EPD). 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.

	PAGP	EPD	Difference
Sharpe ratio: Return per unit of total volatility	2.43	1.74	+0.69
Sortino ratio: Return per unit of downside risk	3.23	2.49	+0.73
Omega ratio: Gain probability vs. loss probability	1.41	1.31	+0.10
Calmar ratio: Return relative to maximum drawdown	3.02	3.63	-0.60
Martin ratio: Return relative to average drawdown	8.86	11.00	-2.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PAGP vs. EPD - Sharpe Ratio Comparison

The current PAGP Sharpe Ratio is 2.43, which is higher than the EPD Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of PAGP and EPD, 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

	PAGP	EPD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	1.74	+0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.98	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	0.43	-0.29
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.54	-0.54

Drawdowns

PAGP vs. EPD - Drawdown Comparison

The maximum PAGP drawdown since its inception was -94.21%, which is greater than EPD's maximum drawdown of -58.78%. Use the drawdown chart below to compare losses from any high point for PAGP and EPD.

Drawdown Indicators

	PAGP	EPD	Difference
Max Drawdown Largest peak-to-trough decline	-94.21%	-58.78%	-35.43%
Max Drawdown (1Y) Largest decline over 1 year	-14.44%	-7.56%	-6.88%
Max Drawdown (3Y) Largest decline over 3 years	-21.02%	-15.40%	-5.62%
Max Drawdown (5Y) Largest decline over 5 years	-23.89%	-18.06%	-5.83%
Max Drawdown (10Y) Largest decline over 10 years	-88.04%	-58.04%	-30.00%
Current Drawdown Current decline from peak	-34.35%	-5.73%	-28.62%
Average Drawdown Average peak-to-trough decline	-57.72%	-10.13%	-47.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.92%	2.49%	+2.43%

Volatility

PAGP vs. EPD - Volatility Comparison

Plains GP Holdings, L.P. (PAGP) has a higher volatility of 6.71% compared to Enterprise Products Partners L.P. (EPD) at 6.17%. This indicates that PAGP's price experiences larger fluctuations and is considered to be riskier than EPD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAGP	EPD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.71%	6.17%	+0.54%
Volatility (6M) Calculated over the trailing 6-month period	13.28%	13.16%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	18.01%	15.81%	+2.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.38%	17.23%	+10.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.75%	24.16%	+17.59%

Dividends

PAGP vs. EPD - Dividend Comparison

PAGP's dividend yield for the trailing twelve months is around 6.48%, more than EPD's 5.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPD Enterprise Products Partners L.P.	5.84%	6.74%	6.63%	7.51%	7.79%	8.20%	9.09%	6.23%	6.97%	6.29%	5.88%	5.90%
PAGP Plains GP Holdings, L.P.	6.48%	7.94%	6.91%	6.71%	6.69%	7.10%	10.65%	7.28%	5.97%	8.88%	6.91%	9.34%

Financials

PAGP vs. EPD - Profitability Comparison

The chart below illustrates the profitability comparison between Plains GP Holdings, L.P. and Enterprise Products Partners L.P. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

PAGP - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Plains GP Holdings, L.P. reported a gross profit of 0.00 and revenue of 12.47B. Therefore, the gross margin over that period was 0.0%.

EPD - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Enterprise Products Partners L.P. reported a gross profit of 1.88B and revenue of 14.39B. Therefore, the gross margin over that period was 13.1%.

PAGP - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Plains GP Holdings, L.P. reported an operating income of 405.00M and revenue of 12.47B, resulting in an operating margin of 3.3%.

EPD - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Enterprise Products Partners L.P. reported an operating income of 1.82B and revenue of 14.39B, resulting in an operating margin of 12.6%.

PAGP - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Plains GP Holdings, L.P. reported a net income of 551.00M and revenue of 12.47B, resulting in a net margin of 4.4%.

EPD - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Enterprise Products Partners L.P. reported a net income of 1.48B and revenue of 14.39B, resulting in a net margin of 10.3%.

Frequently Asked Questions

Can I hold both PAGP and EPD in my portfolio?

PAGP and EPD have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAGP or EPD?

PAGP has higher volatility (6.71%) compared to EPD (6.17%). In terms of maximum drawdown, PAGP dropped -94.21% vs EPD's -58.78%.

Which has better risk-adjusted returns?

PAGP currently has the higher Sharpe Ratio (2.43 vs 1.74), 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.