PNNT vs. ENFR
PNNT (PennantPark Investment Corporation) is a stock, while ENFR (Alerian Energy Infrastructure ETF) is Energy Equities fund tracking the Alerian Midstream Energy Select Index. Over the past 10 years, PNNT returned 4.88%/yr vs 11.71%/yr for ENFR. At a 0.36 correlation, their price movements are largely independent.
Performance
PNNT vs. ENFR - Performance Comparison
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Returns By Period
In the year-to-date period, PNNT achieves a -35.21% return, which is significantly lower than ENFR's 29.35% return. Over the past 10 years, PNNT has underperformed ENFR with an annualized return of 4.88%, while ENFR has yielded a comparatively higher 11.71% annualized return.
PNNT
- 1D
- 2.08%
- 1M
- -6.16%
- 6M
- -37.52%
- YTD
- -35.21%
- 1Y
- -43.33%
- 3Y*
- -4.81%
- 5Y*
- -0.14%
- 10Y*
- 4.88%
ENFR
- 1D
- 1.09%
- 1M
- 5.43%
- 6M
- 27.82%
- YTD
- 29.35%
- 1Y
- 32.20%
- 3Y*
- 28.32%
- 5Y*
- 22.31%
- 10Y*
- 11.71%
PNNT vs. ENFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNNT PennantPark Investment Corporation | -35.21% | -2.96% | 16.56% | 37.25% | -8.90% | 61.71% | -17.99% | 14.30% | 2.05% | -0.65% |
ENFR Alerian Energy Infrastructure ETF | 29.35% | 5.88% | 42.17% | 15.63% | 17.48% | 39.97% | -24.14% | 21.60% | -18.67% | -0.19% |
Correlation
The correlation between PNNT and ENFR is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2013 | 0.36 |
The correlation between PNNT and ENFR shifts across timeframes, from -0.04 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PNNT vs. ENFR — Risk / Return Rank
PNNT
ENFR
PNNT vs. ENFR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PennantPark Investment Corporation (PNNT) and Alerian Energy Infrastructure ETF (ENFR). 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.
| PNNT | ENFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.67 | ||
| Sortino ratioReturn per unit of downside risk | -5.21 | ||
| Omega ratioGain probability vs. loss probability | 0.72 | 1.36 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | 3.74 | -4.66 |
| Martin ratioReturn relative to average drawdown | -1.77 | 9.20 | -10.96 |
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Drawdowns
PNNT vs. ENFR - Drawdown Comparison
The maximum PNNT drawdown since its inception was -82.16%, which is greater than ENFR's maximum drawdown of -68.28%. Use the drawdown chart below to compare losses from any high point for PNNT and ENFR.
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Drawdown Indicators
| PNNT | ENFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.16% | -68.28% | -13.88% |
Max Drawdown (1Y)Largest decline over 1 year | -47.57% | -8.64% | -38.93% |
Max Drawdown (3Y)Largest decline over 3 years | -47.57% | -15.58% | -31.99% |
Max Drawdown (5Y)Largest decline over 5 years | -47.57% | -20.29% | -27.28% |
Max Drawdown (10Y)Largest decline over 10 years | -69.14% | -62.64% | -6.50% |
Current DrawdownCurrent decline from peak | -44.85% | -1.34% | -43.51% |
Average DrawdownAverage peak-to-trough decline | -15.43% | -15.88% | +0.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.57% | 3.51% | +21.06% |
Volatility
PNNT vs. ENFR - Volatility Comparison
PennantPark Investment Corporation (PNNT) has a higher volatility of 9.30% compared to Alerian Energy Infrastructure ETF (ENFR) at 5.40%. This indicates that PNNT's price experiences larger fluctuations and is considered to be riskier than ENFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNNT | ENFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.30% | 5.40% | +3.90% |
Volatility (6M)Calculated over the trailing 6-month period | 24.63% | 12.07% | +12.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.22% | 15.20% | +13.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.78% | 19.27% | +4.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.86% | 24.65% | +8.21% |
Dividends
PNNT vs. ENFR - Dividend Comparison
PNNT's dividend yield for the trailing twelve months is around 26.74%, more than ENFR's 3.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ENFR Alerian Energy Infrastructure ETF | 3.88% | 4.77% | 4.41% | 5.48% | 5.23% | 7.86% | 7.57% | 5.81% | 3.98% | 2.98% | 3.31% | 3.34% |
PNNT PennantPark Investment Corporation | 26.74% | 16.11% | 12.85% | 11.65% | 10.43% | 6.93% | 11.71% | 11.03% | 11.30% | 10.42% | 14.62% | 18.12% |
Frequently Asked Questions
PNNT and ENFR have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PNNT has higher volatility (9.30%) compared to ENFR (5.40%). In terms of maximum drawdown, PNNT dropped -82.16% vs ENFR's -68.28%.
ENFR currently has the higher Sharpe Ratio (2.13 vs -1.54), 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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