PAGP vs. ET
PAGP (Plains GP Holdings, L.P.) and ET (Energy Transfer LP) are both stocks. Both operate in the Oil & Gas Midstream industry within the Energy sector. Over the past 10 years, PAGP returned 5.72%/yr vs 12.19%/yr for ET. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
PAGP vs. ET - Performance Comparison
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Returns By Period
In the year-to-date period, PAGP achieves a 30.72% return, which is significantly higher than ET's 19.78% return. Over the past 10 years, PAGP has underperformed ET with an annualized return of 5.72%, while ET has yielded a comparatively higher 12.19% annualized return.
PAGP
- 1D
- 1.43%
- 1M
- -1.03%
- YTD
- 30.72%
- 6M
- 33.09%
- 1Y
- 34.59%
- 3Y*
- 26.57%
- 5Y*
- 23.81%
- 10Y*
- 5.72%
ET
- 1D
- -0.57%
- 1M
- -0.57%
- YTD
- 19.78%
- 6M
- 21.40%
- 1Y
- 12.82%
- 3Y*
- 23.92%
- 5Y*
- 21.62%
- 10Y*
- 12.19%
PAGP vs. ET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAGP Plains GP Holdings, L.P. | 30.72% | 12.69% | 23.64% | 38.09% | 31.78% | 28.97% | -51.17% | 0.30% | -3.49% | -32.11% |
ET Energy Transfer LP | 19.78% | -9.37% | 53.87% | 27.87% | 55.74% | 42.96% | -44.92% | 5.88% | -17.74% | -4.66% |
Correlation
The correlation between PAGP and ET is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2013 | 0.60 |
The correlation between PAGP and ET shifts across timeframes, from 0.49 (1 year) to 0.67 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
PAGP:
$17.01B
ET:
$65.90B
PAGP:
$1.98
ET:
$1.35
PAGP:
12.19
ET:
14.13
PAGP:
0.20
ET:
0.76
PAGP:
1.33
ET:
1.32
PAGP:
$45.26B
ET:
$89.38B
PAGP:
$2.07B
ET:
$20.48B
PAGP:
$2.44B
ET:
$13.02B
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Return for Risk
PAGP vs. ET — Risk / Return Rank
PAGP
ET
PAGP vs. ET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Plains GP Holdings, L.P. (PAGP) and Energy Transfer LP (ET). 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.
| PAGP | ET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.15 | ||
| Sortino ratioReturn per unit of downside risk | +1.34 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.14 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.41 | 1.50 | +0.91 |
| Martin ratioReturn relative to average drawdown | 6.58 | 3.27 | +3.31 |
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Drawdowns
PAGP vs. ET - Drawdown Comparison
The maximum PAGP drawdown since its inception was -94.21%, which is greater than ET's maximum drawdown of -87.81%. Use the drawdown chart below to compare losses from any high point for PAGP and ET.
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Drawdown Indicators
| PAGP | ET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.21% | -87.81% | -6.40% |
Max Drawdown (1Y)Largest decline over 1 year | -14.44% | -8.59% | -5.85% |
Max Drawdown (3Y)Largest decline over 3 years | -21.02% | -24.56% | +3.54% |
Max Drawdown (5Y)Largest decline over 5 years | -22.28% | -24.56% | +2.28% |
Max Drawdown (10Y)Largest decline over 10 years | -88.04% | -72.82% | -15.22% |
Current DrawdownCurrent decline from peak | -35.76% | -6.52% | -29.24% |
Average DrawdownAverage peak-to-trough decline | -57.61% | -25.69% | -31.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.27% | 4.06% | +1.21% |
Volatility
PAGP vs. ET - Volatility Comparison
Plains GP Holdings, L.P. (PAGP) has a higher volatility of 5.46% compared to Energy Transfer LP (ET) at 4.74%. This indicates that PAGP's price experiences larger fluctuations and is considered to be riskier than ET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAGP | ET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.46% | 4.74% | +0.72% |
Volatility (6M)Calculated over the trailing 6-month period | 13.71% | 12.21% | +1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.82% | 16.01% | +1.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.14% | 24.60% | +2.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.56% | 34.44% | +7.12% |
Dividends
PAGP vs. ET - Dividend Comparison
PAGP's dividend yield for the trailing twelve months is around 6.62%, less than ET's 7.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ET Energy Transfer LP | 7.00% | 7.97% | 6.51% | 8.95% | 7.33% | 7.41% | 17.27% | 9.51% | 9.24% | 6.66% | 5.90% | 7.42% |
PAGP Plains GP Holdings, L.P. | 6.62% | 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. ET - Financials Comparison
This section allows you to compare key financial metrics between Plains GP Holdings, L.P. and Energy Transfer LP. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
PAGP vs. ET - Profitability Comparison
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%.
ET - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Energy Transfer LP reported a gross profit of 6.62B and revenue of 27.77B. Therefore, the gross margin over that period was 23.9%.
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%.
ET - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Energy Transfer LP reported an operating income of 2.98B and revenue of 27.77B, resulting in an operating margin of 10.7%.
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%.
ET - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Energy Transfer LP reported a net income of 1.25B and revenue of 27.77B, resulting in a net margin of 4.5%.
Frequently Asked Questions
PAGP and ET have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAGP has higher volatility (5.46%) compared to ET (4.74%). In terms of maximum drawdown, PAGP dropped -94.21% vs ET's -87.81%.
PAGP currently has the higher Sharpe Ratio (1.95 vs 0.81), 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.
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