Relative Intelligence · Electric Utilities
How NextEra Energy (NEE) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on NEE alone. It places NEE (NextEra Energy, Inc.) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where NEE stands in the market, and of the alternatives worth a closer look.
Period covered: NEE's full trading record, from October 1986 through September 2026. All returns include reinvested dividends. Data as of October 22, 2026.
Data as of October 22, 2026. Full tables and charts read best on a larger screen.
This page answers the following questions about NEE
Key findings
Not AI-generatedThese key findings are generated by our proprietary relative intelligence engine, directly from the data on this page.
- Right nowNEE has gone against the market, falling 7.6% over the past 6 months while the S&P 500 rose 8.0%. At a glance ↓
- Stock or market?Not a move of its own: the electric utilities ETF XLU (State Street Utilities Select Sector SPDR ETF) fell 6.0% over the past 3 months, with D (Dominion Energy, down 7.1%) and SRE (Sempra, down 8.1%), while the S&P 500 rose 2.5%. Last month cut against the tape: NEE rose 3.3% while the S&P 500 fell 1.2%.
- Past 1 to 3 yearsOver the past year, NEE rose 1.7% against 15.6% for the S&P 500 and 16.9% for the Nasdaq 100. The same gap shows up over 3 years (73.8% against 88.4%). By year ↓
- Long termNEE turned $10,000 into $34,000 over the past decade, against $41,600 in the S&P 500. On the flip side, over the past decade, only ETR (Entergy) of its electric utility peers outpaced NEE. Growth of $10,000 ↓
- In a crashAcross seven sell-offs, NEE has typically lost about 82% as much as the S&P 500. Crash tests ↓
- DiversificationOver 10 years NEE kept more of the market's gains than of its losses: 62% of the S&P 500's gains in rising months and 44% of its losses in falling ones, with a beta of 0.45. Against the S&P 500, NEE has a correlation of 0.40 over 5 years, more closely than 51% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Market capture ↓
- Better options
- Popular alternatives
- AEP (American Electric Power), EVRG (Evergy) and ETR (Entergy) earned more than NEE with less volatility over the past 5 years. AEP returned 12.8% a year at 20.2% volatility, against 2.1% a year at 26.9%.
- Nearby categories and themes
- NI (NiSource, gas utilities) and NWE (Northwestern Energy Group, electric utilities) earned more than NEE with less volatility over the past 5 years. NI returned 15.5% a year at 20.3% volatility, against 2.1% a year at 26.9%.
- Whole market
- 913 of the 3,641 stocks and funds worth at least $500 million earned more than NEE with less volatility over the past 5 years, among them VTI (Vanguard Morningstar Total Stock Market ETF), VOO (Vanguard S&P 500 ETF) and BRK-A (Berkshire Hathaway).
How much would $10,000 in NEE have grown?
This chart tracks a hypothetical $10,000 investment in NEE over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of NEE over the same span and NEE's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.
- $10,000 invested in NEE at the end of September 1997 would have grown to $299,370 by September 2026, more than the $132,907 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of NEE, and AAPL finished highest, at $20,534,853.
Choose a period
From the end of September 1997 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 201 of the 1,042 stocks and funds worth at least $500 million that traded the whole period ended ahead of NEE; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- AAPL$21M+205,249% total · +30.1% a year
- GILD$2M+15,614% total · +19.1% a year
- COST$727,732+7,177% total · +15.9% a year
- AMGN$526,909+5,169% total · +14.6% a year
- RY$442,765+4,328% total · +14.0% a year
- NEE$299,370+2,894% total · +12.4% a year
- ETR$234,668+2,247% total · +11.5% a year
- SPY (S&P 500)$132,907+1,229% total · +9.3% a year
- AEP$92,393+824% total · +8.0% a year
- EVRG$89,845+798% total · +7.9% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 2,315 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of NEE; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- VST$88,175+782% total · +54.6% a year
- ETR$23,803+138% total · +18.9% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- FSLR$18,350+83.5% total · +12.9% a year
- AEP$17,493+74.9% total · +11.8% a year
- ED$16,736+67.4% total · +10.8% a year
- SO$16,055+60.5% total · +9.9% a year
- EVRG$15,393+53.9% total · +9.0% a year
- AEE$14,215+42.1% total · +7.3% a year
- NEE$11,034+10.3% total · +2.0% a year
NEE at a glance
This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.
- NEE's deepest decline since it began trading in 1986 was 47.9%, from December 2007 to October 2008. It took about four years from the low to climb back to its old high.
- Over 29 full calendar years, NEE's best was 2000, when it returned 74.7%, and its worst was 1999, when it lost 28.0%. It lost money in five of those years.
- NEE is 15.1% below its all-time high.
The company
- Market value
- $171B
- Industry
- Regulated Electric
- Price history from
- October 1986
Returns
- Past 1 year
- +1.7%total return
- Past 3 years
- +73.8%+20.2% a year
- Past 5 years
- +11.0%+2.1% a year
- Past 10 years
- +240%+13.0% a year
- Best calendar year
- +74.7%2000
- Worst calendar year
- −28.0%1999
- Losing years
- 5 of 29full calendar years
Risk
- Volatility
- 26.9%typical yearly swing, 5 years
- Sharpe ratio
- 0.21return per unit of risk, 5 years
- Worst decline ever
- −47.9%Dec 2007 to Oct 2008
- From its all-time high
- −15.1%below the peak
NEE against the whole market
Where NEE ranks among every stock and fund, and what across the market has done better.
How does NEE rank among all stocks?
This section ranks NEE on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history. Where the comparisons with its popular alternatives show how NEE stacks up against its peers, these rankings show where it stands in the market as a whole.
- NEE's worst decline of the past 10 years ranks in the top 13% of the 2,184 stocks worth at least $300 million, where the top fell the least.
Ranked against U.S.-listed stocks worth at least $300M that have enough history for each measure, so the count changes from row to row; smaller stocks are left out. Lower volatility and smaller declines rank higher.
| Measure | NEE | Rank | Standing |
|---|---|---|---|
| 1-year return | +1.7% | 1,959 of 3,282 | bottom 41% |
| 3-year return | +73.8% | 1,234 of 3,016 | top 41% |
| 5-year return | +11.0% | 1,589 of 2,897 | bottom 46% |
| 10-year return | +240% | 732 of 2,201 | top 33% |
| Volatility, 5 years | 26.9% | 473 of 2,897 | top 16% |
| Sharpe ratio, 5 years | 0.21 | 1,822 of 2,897 | bottom 38% |
| Worst decline, past 10 years | −45.0% | 287 of 2,184 | top 13% |
What has beaten NEE on both return and risk?
Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). NEE sits where the dashed lines cross. Anything in the green box above and to the left earned more than NEE with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.
- 222 stocks and 691 ETFs worth at least $500 million sit in the green region: each earned more than NEE over the past 5 years with smaller price swings. That is 25% of the 3,641 screened.
- Among those with at least half NEE's swings, CAH has the best return for its risk: 41.7% a year at 24.7% volatility, 8% less than NEE's 26.9%, and a Sharpe ratio (return above cash per unit of volatility) of 1.54 against 0.21 for NEE.
- Among NEE's popular alternatives, ETR, ED and SO are in the region. ETR earned 19.8% a year against 2.1% a year for NEE, at 22.4% volatility, 17% less than NEE's 26.9%.
Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to NEE; faint dots are 89 more of the 913 in the green region (the strongest, one per fund family). 3,641 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.
- Popular alternatives
- Same and neighboring categories, and shared themes
- The whole market
- Others in the green region
Is there a better investment than NEE?
Investments that beat NEE over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among NEE's popular alternatives, AEP, EVRG and ETR earned more than NEE with less volatility over the past 5 years. AEP returned 12.8% a year at 20.2% volatility, against 2.1% a year at 26.9%.
- Looking beyond its popular alternatives, NI (gas utilities) and NWE (electric utilities) earned more than NEE with less volatility over the past 5 years. NI returned 15.5% a year at 20.3% volatility, against 2.1% a year at 26.9%.
- Across the whole market, 913 of the 3,641 stocks and funds worth at least $500 million earned more than NEE with less volatility over the past 5 years, among them VTI, VOO and BRK-A.
How this works
The table below lists investments that beat NEE over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes. It checks NEE's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than NEE follows the table.
Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than NEE's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× NEE's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than NEE's.
| Investment | Why it is better | Past 5 years | Downside | Long run | Fit | ||||
|---|---|---|---|---|---|---|---|---|---|
| Annual return?higher is better | Volatility?lower is calmer | Sharpe?return per unit of risk | Worst decline?past 10 years | 10Y returntotal | Corr. with NEE?lower diversifies more | Expenseper year | |||
| NEENextEra Energy, Inc. · this page | +2.1% | 26.9% | 0.21 | −45.0% | +240% | 1.00 | — | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.5% | 17.2% | 0.78 | −33.7% | +316% | 0.40 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against NEE. 17 of 23 passed at least one test. | |||||||||
 AEPAmerican Electric Power Company, Inc. · Electric Utilities | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +12.8% | 20.2% | 0.70 | −32.9% | +192% | 0.56 | — | |
EVRGEvergy, Inc. · Electric Utilities | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +9.9% | 19.0% | 0.60 | −38.8% | +113% | 0.62 | — | |
 ETREntergy Corporation · Electric Utilities | Higher return, lower volatilityHigher return in most periods | +19.8% | 22.4% | 0.92 | −42.0% | +326% | 0.51 | — | |
 SOThe Southern Company · Electric Utilities | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +12.3% | 18.9% | 0.71 | −38.4% | +178% | 0.62 | — | |
 EDConsolidated Edison, Inc. · Electric Utilities | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +12.7% | 18.9% | 0.73 | −30.9% | +123% | 0.56 | — | |
 DUKDuke Energy Corporation · Electric Utilities | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +7.9% | 18.1% | 0.52 | −37.4% | +140% | 0.61 | — | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in Electric Utilities and the categories next to it (Independent Power Producers, Diversified Utilities, Engineering & Construction, Gas Utilities), plus NEE's specific themes. 32 of 94 passed at least one test. | |||||||||
NINiSource Inc · Gas Utilities | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +15.5% | 20.3% | 0.81 | −30.9% | +166% | 0.59 | — | |
NWENorthwestern Energy Group Inc · Electric Utilities | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +11.2% | 21.6% | 0.60 | −39.3% | +107% | 0.53 | — | |
JJacobs Solutions Inc. · Engineering & Construction | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +6.2% | 26.2% | 0.36 | −39.3% | +280% | 0.20 | — | |
SWXSouthwest Gas Holdings, Inc. · Gas Utilities | Higher return, lower volatilityHigher return in most periods | +9.4% | 24.7% | 0.49 | −42.5% | +78.0% | 0.31 | — | |
OTTROtter Tail Corporation · Electric Utilities | Higher return, similar volatility | +11.1% | 27.6% | 0.52 | −41.5% | +239% | 0.30 | — | |
PORPortland General Electric Company · Electric Utilities | Similar return, lower volatility | +2.6% | 20.9% | 0.23 | −45.0% | +56.9% | 0.72 | — | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 1,507 of 3,534 passed at least one test. | |||||||||
 RYRoyal Bank of Canada · Banks | On the frontierHigher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +17.5% | 18.2% | 0.98 | −40.0% | +361% | 0.28 | — | |
 VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +11.4% | 17.5% | 0.71 | −35.0% | +298% | 0.39 | 0.03% | |
 VOOVanguard S&P 500 ETF · US Large-Cap Equity | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +12.6% | 16.9% | 0.79 | −34.0% | +319% | 0.40 | 0.03% | |
 WMTWalmart Inc. · Discount Retail | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +21.1% | 22.6% | 0.97 | −25.7% | +521% | 0.32 | — | |
 BRK-ABerkshire Hathaway Inc. · Insurance | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +13.5% | 17.2% | 0.83 | −30.4% | +281% | 0.28 | — | |
 JNJJohnson & Johnson · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +13.5% | 18.0% | 0.80 | −27.4% | +209% | 0.31 | — | |
 AAPLApple Inc. · Computer Hardware | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +19.1% | 28.0% | 0.77 | −38.5% | +1,194% | 0.22 | — | |
 VTIPVanguard Short-Term Inflation-Protected Securities ETF · Inflation-Protected Bonds | Similar return, lower volatilityHigher Sharpe, smaller worst decline | +2.7% | 2.9% | 0.95 | −6.3% | +33.2% | 0.35 | 0.03% | |
What these numbers mean for NEE
- Annual return
- NEE returned 2.1% a year over the past 5 years with dividends reinvested, against 12.5% a year for the S&P 500. At that pace, $10,000 became about $11,100. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
- Volatility
- NEE's volatility over the past 5 years was 26.9%, 1.6 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, NEE's return lands within 26.9% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
- Sharpe ratio
- NEE's Sharpe ratio over the past 5 years was 0.21, against 0.78 for the S&P 500, so NEE earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
- Worst decline
- NEE's worst fall from a peak to a low over the past 10 years was 45.0%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 45.0% fall takes a 81.7% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, NEE's monthly returns had a correlation of 0.40 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against NEE instead: the lower it is, the more that option would diversify a NEE holding. Guide: Correlation and diversification →
Show all 913 stocks and funds worth at least $500 million that earned more than NEE with less volatility
Out of 3,641 tested over 5 years. The strongest 100 are listed, best first, with funds that hold the same thing listed once.
| # | Investment | Found in | Annual return | Volatility | Sharpe | Worst decline | 10Y return | Corr. with NEE | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | RYRoyal Bank of Canada · Banks | Whole market | +17.5% | 18.2% | 0.98 | −40.0% | +361% | 0.28 | — |
| 2 | VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Whole market | +11.4% | 17.5% | 0.71 | −35.0% | +298% | 0.39 | 0.03% |
| 3 | VOOVanguard S&P 500 ETF · US Large-Cap Equity | Whole market | +12.6% | 16.9% | 0.79 | −34.0% | +319% | 0.40 | 0.03% |
| 4 | WMTWalmart Inc. · Discount Retail | Whole market | +21.1% | 22.6% | 0.97 | −25.7% | +521% | 0.32 | — |
| 5 | BRK-ABerkshire Hathaway Inc. · Insurance | Whole market | +13.5% | 17.2% | 0.83 | −30.4% | +281% | 0.28 | — |
| 6 | JNJJohnson & Johnson · Pharmaceuticals | Whole market | +13.5% | 18.0% | 0.80 | −27.4% | +209% | 0.31 | — |
| 7 |  VVisa Inc. · Payment Processing | Whole market | +13.2% | 22.9% | 0.66 | −36.4% | +435% | 0.07 | — |
| 8 | DXJWisdomTree Japan Hedged Equity Fund · Japan Equity | Whole market | +26.6% | 19.1% | 1.34 | −39.1% | +415% | 0.13 | 0.48% |
| 9 |  KOThe Coca-Cola Company · Nonalcoholic Beverages | Whole market | +15.2% | 16.8% | 0.93 | −37.0% | +205% | 0.40 | — |
| 10 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity | Whole market | +16.9% | 11.1% | 1.48 | −32.4% | +194% | 0.36 | 0.40% |
| 11 |  COSTCostco Wholesale Corporation · Discount Retail | Whole market | +17.4% | 22.9% | 0.82 | −31.4% | +692% | 0.36 | — |
| 12 |  QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth | Whole market | +14.2% | 23.0% | 0.69 | −35.1% | +531% | 0.29 | 0.18% |
| 13 |  NVSNovartis AG · Pharmaceuticals | Whole market | +17.4% | 20.7% | 0.89 | −26.8% | +234% | 0.35 | — |
| 14 |  MCKMcKesson Corporation · Health Care Distribution | Whole market | +37.8% | 25.1% | 1.41 | −38.1% | +582% | 0.20 | — |
| 15 |  VTVVanguard Morningstar Value ETF · US Large-Cap Value | Whole market | +12.2% | 13.7% | 0.91 | −36.8% | +237% | 0.46 | 0.03% |
| 16 |  AMGNAmgen Inc. · Biotechnology | Whole market | +20.1% | 24.9% | 0.86 | −24.9% | +280% | 0.34 | — |
| 17 |  GILDGilead Sciences, Inc. · Biotechnology | Whole market | +22.8% | 24.9% | 0.95 | −30.5% | +202% | 0.17 | — |
| 18 |  VEAVanguard FTSE Developed Markets ETF · Developed International Equity | Whole market | +9.1% | 16.9% | 0.60 | −35.8% | +152% | 0.43 | 0.03% |
| 19 |  LINLinde plc · Chemicals | Whole market | +11.7% | 20.9% | 0.64 | −32.6% | +404% | 0.33 | — |
| 20 |  VIGVanguard Dividend Appreciation ETF · Dividend Growth | Whole market | +10.4% | 14.1% | 0.77 | −31.7% | +258% | 0.49 | 0.04% |
| 21 |  SCHDSchwab U.S. Dividend Equity ETF · US Dividend Equity | Whole market | +10.2% | 14.4% | 0.75 | −33.4% | +256% | 0.46 | 0.06% |
| 22 |  CORCencora, Inc. · Health Care Distribution | Whole market | +23.6% | 22.8% | 1.05 | −32.4% | +403% | 0.28 | — |
| 23 |  UNPUnion Pacific Corporation · Railroads | Whole market | +7.0% | 22.9% | 0.41 | −38.7% | +313% | 0.46 | — |
| 24 |  MNSTMonster Beverage Corporation · Nonalcoholic Beverages | Whole market | +17.4% | 24.9% | 0.77 | −30.4% | +278% | 0.19 | — |
| 25 |  CMECME Group Inc. · Capital Markets | Whole market | +11.6% | 20.8% | 0.63 | −37.4% | +334% | 0.15 | — |
| 26 |  VTVanguard Total World Stock ETF · Global Equity | Whole market | +10.1% | 16.2% | 0.68 | −34.2% | +220% | 0.42 | 0.06% |
| 27 |  IEMGiShares Core MSCI Emerging Markets ETF · Emerging Markets Equity | Whole market | +6.5% | 19.5% | 0.42 | −38.7% | +115% | 0.30 | 0.09% |
| 28 |  RSGRepublic Services, Inc. · Waste Management | Whole market | +14.1% | 18.6% | 0.80 | −34.0% | +461% | 0.29 | — |
| 29 |  MSIMotorola Solutions, Inc. · Communications Equipment | Whole market | +15.2% | 23.6% | 0.72 | −32.8% | +639% | 0.47 | — |
| 30 |  WMWaste Management, Inc. · Waste Management | Whole market | +9.5% | 19.3% | 0.57 | −30.1% | +357% | 0.39 | — |
| 31 |  FASTFastenal Company · Industrial Distribution | Whole market | +16.2% | 24.6% | 0.74 | −30.7% | +582% | 0.31 | — |
| 32 |  SCHGSchwab U.S. Large-Cap Growth ETF · US Large-Cap Growth | Whole market | +12.8% | 22.5% | 0.65 | −34.5% | +438% | 0.29 | 0.04% |
| 33 |  DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity | Whole market | +14.4% | 17.5% | 0.86 | −34.7% | — | 0.36 | 0.26% |
| 34 |  ICEIntercontinental Exchange, Inc. · Capital Markets | Whole market | +5.9% | 21.8% | 0.37 | −34.3% | +249% | 0.31 | — |
| 35 |  MRSHMarsh & McLennan Companies, Inc. · Insurance Brokers | Whole market | +4.8% | 21.0% | 0.33 | −35.8% | +261% | 0.35 | — |
| 36 |  IXUSiShares Core MSCI Total International Stock ETF · International Equity | Whole market | +8.0% | 16.6% | 0.55 | −36.2% | +138% | 0.42 | 0.07% |
| 37 |  NDAQNasdaq, Inc. · Capital Markets | Whole market | +10.5% | 24.9% | 0.53 | −38.3% | +447% | 0.37 | — |
| 38 | DFIVDimensional - International Value ETF · International Large-Cap Value | Whole market | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.37 | 0.27% |
| 39 | SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity | Whole market | +18.1% | 20.9% | 0.91 | −30.9% | +485% | 0.23 | 0.13% |
| 40 |  WCNWaste Connections, Inc. · Waste Management | Whole market | +7.4% | 20.4% | 0.45 | −31.6% | +299% | 0.34 | — |
| 41 | AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Whole market | +13.9% | 16.9% | 0.86 | −19.5% | — | 0.39 | 0.15% |
| 42 | HDViShares Core High Dividend ETF · High Dividend Yield | Whole market | +13.3% | 13.0% | 1.03 | −37.0% | +177% | 0.46 | 0.08% |
| 43 | DGXQuest Diagnostics Incorporated · Medical Diagnostics | Whole market | +13.0% | 22.5% | 0.66 | −36.6% | +256% | 0.50 | — |
| 44 | DGRWWisdomTree U.S. Quality Dividend Growth Fund · US Dividend Equity | Whole market | +11.7% | 14.0% | 0.87 | −32.0% | +271% | 0.42 | 0.28% |
| 45 | DTMDT Midstream, Inc. · Oil & Gas Midstream | Whole market | +25.0% | 25.2% | 1.02 | −23.6% | — | 0.29 | — |
| 46 | SPHQInvesco S&P 500 Quality ETF · US Quality Equity | Whole market | +11.7% | 16.7% | 0.75 | −31.6% | +295% | 0.41 | 0.20% |
| 47 | EWJiShares MSCI Japan ETF · Japan Equity | Whole market | +9.3% | 18.7% | 0.57 | −33.1% | +129% | 0.36 | 0.49% |
| 48 | RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity | Whole market | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.42 | 0.39% |
| 49 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.6% | 17.2% | 0.94 | −31.4% | +357% | 0.39 | 0.40% |
| 50 |  WELLWelltower Inc. · Healthcare REITs | Whole market | +27.0% | 23.8% | 1.13 | −63.3% | +378% | 0.39 | — |
| 51 | VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value | Whole market | +16.2% | 18.4% | 0.91 | −39.5% | +286% | 0.28 | 0.15% |
| 52 | JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity | Whole market | +13.5% | 15.7% | 0.89 | −32.9% | — | 0.37 | 0.12% |
| 53 | VPLVanguard FTSE Pacific ETF · International Equity | Whole market | +9.3% | 18.6% | 0.57 | −33.9% | +138% | 0.37 | 0.07% |
| 54 |  SGOViShares 0-3 Month Treasury Bond ETF · Treasury Bills | Whole market | +3.8% | 0.3% | 13.25 | −0.3% | — | 0.04 | 0.09% |
| 55 | MOATVanEck Morningstar Wide Moat ETF · US Large-Cap Equity | Whole market | +9.5% | 18.4% | 0.59 | −33.3% | +278% | 0.37 | 0.46% |
| 56 | FNDESchwab Fundamental Emerging Markets Large Company Index ETF · Emerging Markets Equity | Whole market | +9.8% | 17.0% | 0.64 | −39.9% | +144% | 0.33 | 0.39% |
| 57 | ACTEnact Holdings Inc. · Insurance | Whole market | +20.7% | 24.4% | 0.90 | −20.2% | — | 0.24 | — |
| 58 |  CAHCardinal Health, Inc. · Health Care Distribution | Whole market | +41.7% | 24.7% | 1.54 | −46.1% | +345% | 0.20 | — |
| 59 | SCIService Corporation International · Death Care | Whole market | +7.4% | 25.2% | 0.41 | −34.0% | +276% | 0.43 | — |
| 60 | FLTWFranklin FTSE Taiwan ETF · International Equity | Whole market | +21.3% | 24.4% | 0.92 | −38.0% | — | 0.23 | 0.19% |
| 61 | RSPTInvesco S&P 500 Equal Weight Technology ETF · Technology Equity | Whole market | +16.6% | 25.1% | 0.74 | −33.7% | +559% | 0.25 | 0.40% |
| 62 | IBBiShares Biotechnology ETF · Biotechnology | Whole market | +6.0% | 22.4% | 0.37 | −39.8% | +142% | 0.41 | 0.44% |
| 63 | GATXGATX Corporation · Equipment Rental | Whole market | +14.3% | 25.1% | 0.66 | −38.3% | +345% | 0.44 | — |
| 64 | NINiSource Inc · Gas Utilities | Same or nearby category | +15.5% | 20.3% | 0.81 | −30.9% | +166% | 0.59 | — |
| 65 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +24.0% | 18.8% | 1.25 | −75.2% | +337% | 0.17 | — |
| 66 | TDIVFirst Trust NASDAQ Technology Dividend Index Fund · Technology Equity | Whole market | +16.5% | 21.3% | 0.83 | −32.0% | +384% | 0.30 | 0.50% |
| 67 | IDMOInvesco S&P International Developed Momentum ETF · International Equity | Whole market | +12.8% | 18.3% | 0.76 | −31.3% | +224% | 0.39 | 0.25% |
| 68 | AEPAmerican Electric Power Company, Inc. · Electric Utilities | Popular alternative | +12.8% | 20.2% | 0.70 | −32.9% | +192% | 0.56 | — |
| 69 | MSAMSA Safety Incorporated · Public Safety Equipment | Whole market | +4.8% | 25.1% | 0.31 | −38.4% | +266% | 0.25 | — |
| 70 | HDEFXtrackers MSCI EAFE High Dividend Yield Equity ETF · International Dividend Equity | Whole market | +12.9% | 14.2% | 0.93 | −36.4% | +135% | 0.43 | 0.09% |
| 71 | PWVInvesco Large Cap Value ETF · US Large-Cap Value | Whole market | +13.7% | 14.2% | 0.98 | −37.6% | +226% | 0.43 | 0.55% |
| 72 | FVFirst Trust Dorsey Wright Focus 5 ETF · US Momentum Equity | Whole market | +9.4% | 21.1% | 0.54 | −34.0% | +243% | 0.24 | 0.30% |
| 73 | JAAAJanus Henderson AAA CLO ETF · AAA CLO Debt | Whole market | +5.1% | 1.7% | 2.98 | −2.6% | — | -0.06 | 0.20% |
| 74 | JMOMJPMorgan U.S. Momentum Factor ETF · US Momentum Equity | Whole market | +12.3% | 19.1% | 0.70 | −34.3% | — | 0.37 | 0.12% |
| 75 | HFXINYLI FTSE International Equity Currency Neutral ETF · International Large-Cap Equity | Whole market | +11.2% | 15.3% | 0.78 | −32.4% | +178% | 0.39 | 0.19% |
| 76 | NULVNuveen ESG Large-Cap Value · US Large-Cap Value | Whole market | +9.4% | 14.2% | 0.70 | −37.0% | — | 0.46 | 0.26% |
| 77 | XTiShares Future Exponential Technologies ETF · Disruptive Technology Equity | Whole market | +7.1% | 21.2% | 0.43 | −34.4% | +278% | 0.33 | 0.46% |
| 78 | NULGNuveen ESG Large-Cap Growth · US Large-Cap Growth | Whole market | +10.9% | 21.9% | 0.58 | −36.2% | — | 0.33 | 0.26% |
| 79 | EVRGEvergy, Inc. · Electric Utilities | Popular alternative | +9.9% | 19.0% | 0.60 | −38.8% | +113% | 0.62 | — |
| 80 | IMCGiShares Morningstar Mid-Cap Growth ETF · Mid-Cap Growth | Whole market | +5.8% | 20.4% | 0.38 | −35.1% | +277% | 0.37 | 0.06% |
| 81 | FBTFirst Trust NYSE Arca Biotechnology Index Fund · Biotechnology | Whole market | +10.8% | 22.2% | 0.58 | −33.3% | +205% | 0.34 | 0.55% |
| 82 | CHCOCity Holding Company · Regional Banks | Whole market | +15.1% | 22.8% | 0.73 | −32.3% | +272% | 0.20 | — |
| 83 | FNDBSchwab Fundamental U.S. Broad Market Index ETF · US Total Market | Whole market | +13.1% | 15.1% | 0.90 | −38.1% | +285% | 0.43 | 0.25% |
| 84 | RODMHartford Multifactor Developed Markets (ex-US) ETF · Developed International Equity | Whole market | +10.6% | 13.5% | 0.82 | −36.0% | +142% | 0.45 | 0.29% |
| 85 | QUSState Street SPDR MSCI USA StrategicFactors ETF · US Multifactor Equity | Whole market | +11.1% | 14.2% | 0.81 | −33.8% | +276% | 0.46 | 0.15% |
| 86 | NWENorthwestern Energy Group Inc · Electric Utilities | Same or nearby category | +11.2% | 21.6% | 0.60 | −39.3% | +107% | 0.53 | — |
| 87 | IHEiShares U.S. Pharmaceuticals ETF · Pharmaceuticals | Whole market | +12.9% | 16.8% | 0.81 | −29.6% | +157% | 0.34 | 0.37% |
| 88 | FFLCFidelity Fundamental Large Cap Core ETF · Active Core Equity | Whole market | +15.5% | 16.8% | 0.94 | −19.7% | — | 0.34 | 0.38% |
| 89 | FVALFidelity Value Factor ETF · US Large-Cap Value | Whole market | +12.6% | 16.4% | 0.81 | −37.3% | +290% | 0.34 | 0.15% |
| 90 | INFLHorizon Kinetics Inflation Beneficiaries ETF · Global Equity | Whole market | +11.6% | 17.8% | 0.71 | −21.3% | — | 0.49 | 0.85% |
| 91 | FDLOFidelity Low Volatility Factor ETF · US Low-Volatility Equity | Whole market | +9.7% | 13.0% | 0.78 | −34.4% | +249% | 0.48 | 0.15% |
| 92 | VFMOVanguard U.S. Momentum Factor ETF · US Momentum Equity | Whole market | +10.9% | 22.1% | 0.58 | −36.8% | — | 0.38 | 0.13% |
| 93 | FEXFirst Trust Large Cap Core AlphaDEX Fund · Multifactor Equity | Whole market | +10.1% | 16.5% | 0.67 | −39.5% | +237% | 0.42 | 0.57% |
| 94 | QGROAmerican Century U.S. Quality Growth ETF · US Large-Cap Growth | Whole market | +9.6% | 21.2% | 0.54 | −32.6% | — | 0.33 | 0.29% |
| 95 |  JPMJPMorgan Chase & Co. · Banks | Whole market | +17.3% | 24.3% | 0.78 | −43.6% | +534% | 0.25 | — |
| 96 | USXFiShares ESG Advanced MSCI USA ETF · Large-Cap ESG | Whole market | +12.7% | 20.2% | 0.69 | −29.6% | — | 0.36 | 0.10% |
| 97 | DBJPXtrackers MSCI Japan Hedged Equity ETF · Japan Equity | Whole market | +20.9% | 19.3% | 1.09 | −31.3% | +339% | 0.19 | 0.45% |
| 98 | EXIiShares Global Industrials ETF · Global Industrials | Whole market | +10.4% | 17.3% | 0.66 | −39.6% | +202% | 0.50 | 0.38% |
| 99 | BBMCJPMorgan BetaBuilders U.S. Mid Cap Equity ETF · US Mid-Cap Equity | Whole market | +7.0% | 20.5% | 0.43 | −30.1% | — | 0.40 | 0.07% |
| 100 |  ABBVAbbVie Inc. · Specialty Pharmaceuticals | Whole market | +25.5% | 23.4% | 1.09 | −45.1% | +600% | 0.18 | — |
NEE against its popular alternatives
The investments people most often weigh against NEE, compared period by period and year by year.
How do NEE's risk and return compare with its alternatives?
This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at NEE, which divides the map into what did better or worse on each measure.
- 17 of the 23 popular alternatives, led by ETR, AEP and ED, were both more rewarding and calmer than NEE over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, NEE returned 2.1% a year, less than the S&P 500's 12.5%, with higher volatility (26.9% against 17.2%).
Green points earned more than NEE with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| VST Vistra Corp. | +51.7% | 48.8% |
| ETR Entergy Corporation | +19.8% | 22.4% |
| AEP American Electric Power Company, Inc. | +12.8% | 20.2% |
| ED Consolidated Edison, Inc. | +12.7% | 18.9% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.5% | 17.2% |
| SO The Southern Company | +12.3% | 18.9% |
| FSLR First Solar, Inc. | +10.0% | 54.7% |
| EVRG Evergy, Inc. | +9.9% | 19.0% |
| SRE Sempra | +8.6% | 23.0% |
| FE FirstEnergy Corp. | +8.6% | 19.4% |
| AEE Ameren Corporation | +8.2% | 19.4% |
| DUK Duke Energy Corporation | +7.9% | 18.1% |
| EXC Exelon Corporation | +7.9% | 20.9% |
| WEC WEC Energy Group, Inc. | +7.7% | 19.1% |
| LNT Alliant Energy Corporation | +7.6% | 19.8% |
| PPL PPL Corporation | +7.6% | 19.0% |
| XEL Xcel Energy Inc. | +7.2% | 20.9% |
| DTE DTE Energy Company | +6.2% | 19.1% |
| PEG Public Service Enterprise Group Incorporated | +6.2% | 20.6% |
| CMS CMS Energy Corporation | +6.1% | 19.1% |
| NEE This pageNextEra Energy, Inc. | +2.1% | 26.9% |
| D Dominion Energy, Inc. | +1.2% | 22.8% |
| BEP Brookfield Renewable Partners L.P. | −0.5% | 31.3% |
| ES Eversource Energy | −0.8% | 23.9% |
| AES The AES Corporation | −6.0% | 37.3% |
Has NEE consistently beaten its popular alternatives?
This section compares NEE with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than NEE helps separate lasting outperformance from a single strong stretch.
- Three of the 25 popular alternatives, ETR, AEP and EVRG, outperformed NEE in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- ETR outperformed NEE in every long-term period and in all but one short-term period, the most consistent record in the group.
- ETR, ED and SO earned more for the risk they took than NEE (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
A green cell means the alternative earned more than NEE over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| NEE NextEra Energy, Inc. (this page) | — | +3.3% | −7.7% | −7.6% | +3.4% | +1.7% | +73.8% | +11.0% | +240% | 26.9% | 0.21 | −45.0% | — | $171B | — |
| ETR QualifiedEntergy Corporation | 5/5 short3/3 longAll-weather | +6.9% | −5.3% | −0.9% | +17.4% | +15.5% | +162% | +146% | +326% | 22.4% | 0.92 | −42.0% | — | $52B | — |
| AEP QualifiedAmerican Electric Power Company, Inc. | 5/5 short2/3 long | +8.6% | −1.1% | +0.7% | +15.4% | +14.9% | +98.5% | +82.7% | +192% | 20.2% | 0.70 | −32.9% | — | $71B | — |
| EVRG QualifiedEvergy, Inc. | 5/5 short2/3 long | +7.2% | −1.0% | +8.5% | +19.2% | +11.7% | +98.7% | +60.4% | +113% | 19.0% | 0.60 | −38.8% | — | $20B | — |
| VST Independent Power ProducersVistra Corp. | 0/5 short3/3 long | +0.3% | −15.4% | −9.3% | −14.4% | −23.8% | +353% | +703% | +1,130% | 48.8% | 1.10 | −53.3% | — | $47B | — |
| FSLR SolarFirst Solar, Inc. | 0/5 short2/3 long | −14.7% | −18.0% | −9.3% | −37.6% | −23.3% | +13.2% | +61.2% | +319% | 54.7% | 0.44 | −61.3% | — | $18B | — |
| AEE Regulated ElectricAmeren Corporation | 5/5 short1/3 long | +7.2% | −2.1% | +1.1% | +10.3% | +6.3% | +59.0% | +48.0% | +199% | 19.4% | 0.50 | −29.1% | — | $30B | — |
| LNT Regulated ElectricAlliant Energy Corporation | 5/5 short1/3 long | +8.8% | −4.3% | +0.6% | +9.7% | +5.7% | +60.3% | +44.2% | +158% | 19.8% | 0.47 | −33.5% | — | $18B | — |
| ED Regulated ElectricConsolidated Edison, Inc. | 5/5 short1/3 long | +12.0% | +4.6% | +9.3% | +19.1% | +17.8% | +48.7% | +81.6% | +123% | 18.9% | 0.73 | −30.9% | — | $43B | — |
| FE Regulated ElectricFirstEnergy Corp. | 5/5 short1/3 long | +3.9% | −4.8% | −2.0% | +5.8% | +2.3% | +50.6% | +51.0% | +111% | 19.4% | 0.52 | −47.7% | — | $27B | — |
| D Regulated ElectricDominion Energy, Inc. | 5/5 short1/3 long | +4.8% | −7.1% | +9.5% | +13.8% | +12.0% | +90.5% | +5.9% | +37.9% | 22.8% | 0.17 | −52.2% | — | $58B | — |
| SO Regulated ElectricThe Southern Company | 4/5 short1/3 long | +10.2% | −1.3% | +3.8% | +10.3% | −0.6% | +59.0% | +78.9% | +178% | 18.9% | 0.71 | −38.4% | — | $108B | — |
| EXC Regulated ElectricExelon Corporation | 4/5 short1/3 long | +7.3% | −3.0% | −0.4% | +4.9% | −3.4% | +30.8% | +46.4% | +171% | 20.9% | 0.47 | −40.0% | — | $46B | — |
| WEC Regulated ElectricWEC Energy Group, Inc. | 4/5 short1/3 long | +9.1% | −0.3% | +0.6% | +8.1% | −1.2% | +55.1% | +45.1% | +168% | 19.1% | 0.49 | −32.3% | — | $37B | — |
| XEL Regulated ElectricXcel Energy Inc. | 4/5 short1/3 long | +9.5% | −0.8% | +2.6% | +8.1% | +0.8% | +50.4% | +41.3% | +164% | 20.9% | 0.44 | −34.4% | — | $49B | — |
| DUK Regulated ElectricDuke Energy Corporation | 4/5 short1/3 long | +7.8% | −1.1% | +1.9% | +9.6% | +0.6% | +62.6% | +46.5% | +140% | 18.1% | 0.52 | −37.4% | — | $98B | — |
| DTE Regulated ElectricDTE Energy Company | 3/5 short1/3 long | +6.1% | −9.6% | −5.7% | +4.6% | −3.5% | +53.7% | +35.4% | +134% | 19.1% | 0.41 | −42.4% | — | $28B | — |
| CMS Regulated ElectricCMS Energy Corporation | 3/5 short1/3 long | +9.4% | −4.2% | −4.7% | +2.2% | −3.5% | +46.9% | +34.4% | +129% | 19.1% | 0.41 | −29.6% | — | $22B | — |
| PPL Regulated ElectricPPL Corporation | 3/5 short1/3 long | +7.5% | −1.3% | −4.9% | +3.1% | −3.4% | +64.7% | +44.1% | +62.8% | 19.0% | 0.48 | −48.7% | — | $27B | — |
| PEG Regulated ElectricPublic Service Enterprise Group Incorporated | 2/5 short1/3 long | +5.2% | −7.8% | −5.7% | −7.9% | −10.2% | +35.6% | +34.8% | +151% | 20.6% | 0.40 | −40.8% | — | $36B | — |
| SRE Diversified UtilitiesSempra | 2/5 short1/3 long | +5.6% | −8.1% | −6.8% | −3.4% | −5.1% | +36.7% | +51.2% | +119% | 23.0% | 0.48 | −45.0% | — | $55B | — |
| CEG Independent Power ProducersConstellation Energy Corporation | 1/5 short1/3 long | −3.1% | −7.0% | −10.8% | −30.0% | −26.7% | +132% | — | — | — | — | −50.7% | — | $90B | — |
| AES Diversified UtilitiesThe AES Corporation | 4/5 short0/3 long | +1.0% | +2.0% | +6.2% | +4.8% | +10.0% | +23.9% | −26.5% | +81.5% | 37.3% | 0.02 | −63.4% | — | $11B | — |
| BEP Renewable UtilitiesBrookfield Renewable Partners L.P. | 2/5 short0/3 long | −2.9% | −9.1% | −11.0% | +7.2% | +7.1% | +53.1% | −2.3% | +192% | 31.3% | 0.14 | −54.3% | — | $8.7B | — |
| GEV Industrial - MachineryGE Vernova Inc. | 2/5 short0/3 long | −12.9% | −16.0% | −26.6% | +22.0% | +43.9% | — | — | — | — | — | −38.3% | — | $220B | — |
| ES Regulated ElectricEversource Energy | 1/5 short0/3 long | +2.2% | −7.8% | +3.6% | +3.1% | −2.9% | +48.6% | −3.8% | +78.3% | 23.9% | 0.09 | −41.7% | — | $26B | — |
How did NEE do year by year?
This table shows each investment's total return in every full calendar year since 1997, along with where NEE ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with NEE and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- NEE finished ahead of the S&P 500 in 16 of its 29 full calendar years, and behind it in each of the last three.
- Ranked against its popular alternatives each year, NEE finished in the top quarter in ten of 29 years and in the bottom quarter in three. In 2025, it ranked 14 of 26.
- Among its popular alternatives, VST came out ahead of NEE most often, in five of the nine years both traded.
Newest year first. Green marks a year in which the fund came out ahead of NEE; gray means the two finished within a fraction of a point. The rank row places NEE among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of NEE | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NEE This pageNextEra Energy, Inc. | — | +15.5% | +21.5% | −25.3% | −8.5% | +23.4% | +30.0% | +42.6% | +14.3% | +34.4% | +18.5% | +0.8% | +27.9% | +27.9% | +17.9% | +21.9% | +2.3% | +9.0% | −23.5% | +27.9% | +35.5% | +15.2% | +18.5% | +13.0% | +11.3% | −18.5% | +74.7% | −28.0% | +8.2% | +33.0% |
| Rank among alternatives | Top quarter in 10 of 29 | 14 of 26 | 9 of 25 | 24 of 25 | 22 of 24 | 4 of 24 | 3 of 24 | 5 of 24 | 5 of 24 | 2 of 24 | 10 of 23 | 8 of 23 | 13 of 23 | 5 of 23 | 2 of 23 | 13 of 23 | 15 of 23 | 17 of 23 | 10 of 23 | 6 of 23 | 5 of 22 | 10 of 21 | 10 of 22 | 15 of 21 | 7 of 21 | 15 of 21 | 5 of 21 | 17 of 21 | 15 of 21 | 7 of 21 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 11 of 29 | +17.7% | +24.9% | +26.2% | −18.2% | +28.7% | +18.3% | +31.2% | −4.6% | +21.7% | +12.0% | +1.2% | +13.5% | +32.3% | +16.0% | +1.9% | +15.1% | +26.4% | −36.8% | +5.1% | +15.9% | +4.8% | +10.7% | +28.2% | −21.6% | −11.7% | −9.8% | +20.4% | +28.7% | +33.5% |
| ETR Entergy Corporation | 14 of 29 | +25.4% | +55.9% | −6.1% | +3.5% | +17.1% | −13.7% | +44.3% | +10.6% | +15.9% | +12.6% | −18.2% | +44.8% | +4.3% | −8.3% | +8.4% | −9.7% | +2.4% | −28.3% | +32.5% | +38.4% | +4.6% | +22.0% | +29.3% | +20.3% | −4.6% | +71.4% | −14.0% | +9.7% | +16.7% |
| AEP American Electric Power Company, Inc. | 8 of 29 | +29.4% | +18.2% | −11.0% | +10.4% | +10.7% | −9.0% | +30.5% | +5.4% | +19.9% | +11.9% | −0.4% | +35.1% | +14.2% | +8.2% | +20.7% | +8.6% | +10.4% | −25.5% | +13.0% | +19.7% | +12.3% | +17.5% | +19.2% | −32.8% | −1.3% | +54.8% | −27.3% | −4.1% | +32.6% |
| EVRG Evergy, Inc. | 13 of 29 | +22.4% | +23.4% | −13.3% | −4.9% | +28.0% | −11.7% | +18.4% | +10.9% | −3.5% | +36.8% | +6.9% | +33.2% | +17.5% | +4.2% | +20.3% | +22.2% | +13.0% | −16.5% | +4.1% | +26.1% | −2.0% | +17.3% | +115% | −37.2% | −26.4% | +58.7% | −44.3% | −18.3% | +48.3% |
| VST Vistra Corp. | 5 of 9 | +17.7% | +262% | +70.7% | +5.1% | +19.5% | −11.9% | +2.5% | +24.9% | +18.2% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| FSLR First Solar, Inc. | 8 of 19 | +48.2% | +2.3% | +15.0% | +71.9% | −11.9% | +76.8% | +31.8% | −37.1% | +110% | −51.4% | +48.0% | −18.4% | +77.1% | −8.6% | −74.1% | −3.9% | −1.8% | −48.4% | +795% | — | — | — | — | — | — | — | — | — | — |
| AEE Ameren Corporation | 10 of 29 | +15.3% | +27.5% | −16.1% | +2.5% | +17.1% | +4.3% | +20.8% | +14.0% | +15.9% | +25.7% | −2.4% | +32.8% | +23.4% | −2.5% | +23.9% | +6.9% | −10.4% | −34.5% | +5.9% | +10.1% | +7.1% | +15.1% | +17.5% | +4.3% | −3.0% | +51.7% | −17.9% | +5.3% | +12.4% |
| LNT Alliant Energy Corporation | 12 of 29 | +13.5% | +19.5% | −3.8% | −7.4% | +22.8% | −3.2% | +33.5% | +2.4% | +16.0% | +25.4% | −2.6% | +33.3% | +22.0% | +2.6% | +25.3% | +27.2% | +9.7% | −25.2% | +11.3% | +39.4% | +1.7% | +19.4% | +58.4% | −40.1% | +1.9% | +24.2% | −8.7% | +3.7% | +26.7% |
| ED Consolidated Edison, Inc. | 10 of 29 | +15.1% | +1.6% | −1.1% | +15.7% | +22.9% | −17.0% | +22.6% | −6.6% | +17.2% | +18.9% | +1.4% | +24.9% | +3.8% | −6.7% | +30.9% | +14.9% | +23.8% | −15.7% | +6.6% | +9.2% | +11.3% | +7.3% | +6.3% | +11.8% | +10.9% | +19.0% | −31.4% | +35.0% | +50.5% |
| FE FirstEnergy Corp. | 10 of 29 | +17.3% | +13.3% | −8.9% | +4.8% | +41.7% | −34.2% | +34.1% | +27.9% | +3.6% | +1.9% | −15.2% | +23.6% | −16.6% | −1.1% | +26.1% | −15.6% | +0.5% | −30.6% | +23.7% | +27.3% | +28.7% | +16.5% | +11.7% | −1.5% | +16.1% | +47.9% | −26.6% | +18.1% | +27.5% |
| D Dominion Energy, Inc. | 12 of 29 | +14.0% | +20.4% | −19.2% | −19.1% | +8.1% | −5.3% | +21.5% | −7.6% | +9.9% | +17.7% | −8.7% | +23.0% | +29.8% | +1.6% | +29.4% | +14.8% | +14.4% | −21.6% | +16.5% | +12.6% | +18.2% | +10.5% | +21.3% | −4.5% | −6.5% | +80.2% | −11.0% | +16.7% | +18.5% |
| SO The Southern Company | 10 of 29 | +9.5% | +21.7% | +2.2% | +8.2% | +16.4% | +0.6% | +51.6% | −3.8% | +2.4% | +9.9% | −0.1% | +25.3% | +0.5% | −3.5% | +26.9% | +20.7% | −4.9% | +0.1% | +9.8% | +11.7% | +7.6% | +16.1% | +11.7% | +17.6% | +32.5% | +48.5% | −14.9% | +18.0% | +21.3% |
| EXC Exelon Corporation | 15 of 29 | +20.0% | +9.2% | −14.0% | +8.3% | +41.4% | −3.8% | +4.3% | +18.4% | +14.1% | +32.8% | −22.2% | +40.6% | −3.5% | −27.4% | +9.5% | −10.5% | −8.4% | −29.9% | +35.1% | +19.8% | +24.5% | +37.5% | +30.1% | +14.1% | −29.5% | +106% | −14.8% | +78.5% | +4.0% |
| WEC WEC Energy Group, Inc. | 12 of 29 | +16.0% | +16.1% | −7.0% | −0.5% | +8.6% | +2.5% | +37.0% | +7.9% | +17.1% | +18.2% | +0.8% | +32.0% | +16.1% | +8.9% | +22.9% | +21.7% | +22.5% | −11.8% | +5.0% | +24.2% | +18.7% | +3.4% | +36.8% | +15.6% | +3.7% | +25.4% | −34.8% | +15.4% | +13.5% |
| XEL Xcel Energy Inc. | 10 of 29 | +13.9% | +12.3% | −8.7% | +6.4% | +4.4% | +7.8% | +32.4% | +5.9% | +20.9% | +17.1% | +3.8% | +33.4% | +8.8% | +0.5% | +22.3% | +16.1% | +20.3% | −13.8% | +2.0% | +30.6% | +6.1% | +12.4% | +61.7% | −57.1% | +0.8% | +58.8% | −24.9% | +0.2% | +33.9% |
| DUK Duke Energy Corporation | 10 of 29 | +12.7% | +15.6% | −1.6% | +2.0% | +19.1% | +4.8% | +10.3% | +7.4% | +12.9% | +13.4% | −10.8% | +26.3% | +13.0% | +1.3% | +30.1% | +9.5% | +21.9% | −21.6% | +8.9% | +26.2% | +15.6% | +30.2% | +11.8% | −48.2% | −5.3% | +76.0% | −18.6% | +20.2% | +25.3% |
| DTE DTE Energy Company | 12 of 29 | +10.4% | +13.5% | −2.8% | +1.2% | +19.4% | −2.9% | +21.4% | +4.2% | +14.6% | +27.0% | −3.7% | +34.8% | +15.0% | +14.9% | +25.9% | +9.0% | +30.4% | −14.4% | −5.1% | +17.7% | +4.8% | +15.0% | −10.4% | +16.1% | +13.0% | +30.8% | −22.5% | +30.4% | +14.7% |
| CMS CMS Energy Corporation | 11 of 29 | +8.1% | +18.6% | −5.2% | +0.2% | +9.7% | −0.3% | +30.0% | +8.2% | +17.1% | +18.9% | +7.3% | +34.6% | +13.9% | +15.0% | +23.9% | +23.7% | +61.1% | −40.2% | +5.4% | +15.0% | +39.0% | +22.7% | −9.7% | −57.7% | −19.9% | +8.3% | −32.7% | +13.2% | +35.4% |
| PPL PPL Corporation | 11 of 29 | +11.4% | +24.0% | −3.8% | +0.4% | +12.8% | −16.9% | +33.4% | −3.0% | −5.2% | +4.1% | +6.2% | +26.1% | +10.3% | +2.4% | +17.6% | −14.1% | +10.2% | −39.0% | +49.3% | +26.2% | +14.8% | +26.1% | +31.3% | +3.9% | −21.0% | +105% | −14.6% | +31.1% | +12.4% |
| PEG Public Service Enterprise Group Incorporated | 12 of 29 | −1.9% | +42.6% | +3.6% | −5.1% | +18.3% | +2.4% | +17.1% | +4.7% | +21.8% | +17.8% | −2.8% | +34.4% | +9.4% | −2.9% | +8.3% | −0.1% | +19.2% | −38.6% | +52.1% | +5.6% | +30.3% | +24.3% | +44.0% | −19.3% | −9.0% | +48.5% | −7.9% | +33.5% | +27.1% |
| SRE Sempra | 13 of 29 | +3.9% | +21.1% | −0.1% | +20.3% | +7.4% | −12.8% | +44.0% | +4.5% | +8.7% | +10.1% | −13.2% | +27.3% | +30.3% | +33.8% | +8.7% | −3.4% | +35.6% | −29.2% | +12.8% | +28.1% | +25.8% | +25.6% | +31.8% | +0.5% | +10.1% | +40.6% | −26.0% | +11.5% | +43.6% |
| CEG Constellation Energy Corporation | 3 of 3 | +58.8% | +92.7% | +37.3% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| AES The AES Corporation | 12 of 29 | +18.3% | −30.4% | −30.9% | +21.7% | +6.0% | +22.2% | +42.1% | +38.9% | −2.7% | +26.5% | −28.2% | −3.8% | +37.4% | −9.3% | −2.8% | −8.4% | +61.6% | −61.5% | −2.9% | +39.3% | +15.7% | +44.9% | +213% | −81.5% | −70.5% | +48.1% | +57.8% | +1.7% | +100% |
| BEP Brookfield Renewable Partners L.P. | 8 of 21 | +25.6% | −8.2% | +9.0% | −26.5% | −14.5% | +80.3% | +91.4% | −20.9% | +24.5% | +20.6% | −10.2% | +24.1% | −5.8% | +13.5% | +39.5% | +23.5% | +62.9% | −26.6% | +23.9% | +6.5% | — | −1.4% | — | — | — | — | — | — | — |
| GEV GE Vernova Inc. | 1 of 1 | +99.0% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| ES Eversource Energy | 11 of 29 | +22.9% | −2.5% | −23.4% | −5.1% | +8.2% | +4.5% | +34.5% | +6.4% | +18.0% | +11.8% | −1.3% | +30.6% | +12.5% | +12.3% | +16.8% | +28.2% | +11.8% | −20.6% | +14.2% | +47.9% | +8.1% | −3.4% | +37.6% | −11.3% | −25.5% | +20.2% | +29.2% | +35.4% | −8.2% |
Risk and diversification
How NEE has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.
What were NEE's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents NEE's five deepest drawdowns since it began trading in 1986, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
- In four of NEE's five worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: NEE fell 45.9% from October 1998 to February 2000, while the S&P 500 rose 40.0%.
- The slowest recovery came after NEE fell 47.9% from December 2007 to October 2008; it did not regain that peak until April 2012, four years later.
Green means NEE fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | NEE fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2008 financial crisis | −47.9% | −39.3% | Dec 2007 | Oct 2008 | 10 months | Apr 2012 | 3.5 years |
| No named crash | −45.9% | +40.0% | Oct 1998 | Feb 2000 | 16 months | Oct 2000 | 8 months |
| 2022 bear market | −45.0% | −6.5% | Dec 2021 | Oct 2023 | 22 months | Oct 2025 | 2 years |
| Covid crash | −35.6% | −28.3% | Mar 2020 | Mar 2020 | Under a month | Jul 2020 | 4 months |
| Dot-com bust | −32.2% | −38.4% | Dec 2000 | Jul 2002 | 19 months | May 2003 | 10 months |
How did NEE do in stock market crashes?
This section measures how far NEE, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.
- Among its popular alternatives, ED held up best, falling less than NEE in eight of the ten crashes they both traded through.
- NEE fell less than the S&P 500 in six of the ten crashes it has traded through. The clearest case was the dot-com bust, when NEE fell 32.2% and the S&P 500 fell 47.5%.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than NEE.
| Investment | Held up better | 2023 regional bank crisisMar 2023 | 2022 bear marketJan 2022 | Covid crashFeb 2020 | Late-2018 sell-offSep 2018 | February 2018 volatility shockFeb 2018 | 2015 China and oil sell-offAug 2015 | 2011 euro debt crisisJul 2011 | 2010 flash crashMay 2010 | 2008 financial crisisOct 2007 | Dot-com bustMar 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NEE This pageNextEra Energy, Inc. | — | −1.7% | −24.0% | −35.6% | −8.2% | −6.9% | −12.9% | −12.8% | 0.0% | −47.9% | −32.2% |
| SPY S&P 500State Street SPDR S&P 500 ETF | 1 of 10 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| ETR Entergy Corporation | 3 of 10 | −3.0% | −21.9% | −41.3% | −8.0% | −4.1% | −13.2% | −13.4% | −1.1% | −49.4% | −28.4% |
| AEP American Electric Power Company, Inc. | 5 of 10 | −2.0% | −22.3% | −32.4% | −8.5% | −5.5% | −10.6% | −9.3% | −0.8% | −48.0% | −62.8% |
| EVRG Evergy, Inc. | 4 of 10 | −2.1% | −22.8% | −38.8% | −8.0% | −2.6% | −11.2% | −14.6% | −1.2% | −39.8% | −59.5% |
| VST Vistra Corp. | 1 of 5 | −7.1% | −22.1% | −45.7% | −17.3% | −8.8% | — | — | — | — | — |
| FSLR First Solar, Inc. | 0 of 9 | −5.0% | −29.6% | −49.1% | −26.5% | −8.6% | −23.7% | −53.3% | 0.0% | −72.0% | — |
| AEE Ameren Corporation | 5 of 10 | −2.5% | −22.9% | −29.1% | −10.2% | −4.2% | −11.5% | −13.2% | −1.9% | −60.6% | −17.8% |
| LNT Alliant Energy Corporation | 2 of 10 | −2.7% | −25.2% | −32.9% | −11.0% | −4.5% | −13.3% | −15.5% | −1.3% | −49.5% | −45.0% |
| ED Consolidated Edison, Inc. | 8 of 10 | −1.2% | −22.0% | −30.9% | −10.3% | −4.1% | −9.8% | −5.9% | 0.0% | −30.1% | −25.5% |
| FE FirstEnergy Corp. | 1 of 10 | −4.1% | −25.2% | −36.4% | −9.5% | −3.5% | −15.6% | −12.5% | 0.0% | −54.2% | −34.4% |
| D Dominion Energy, Inc. | 5 of 10 | −3.2% | −28.0% | −33.3% | −7.5% | −3.1% | −13.3% | −7.7% | 0.0% | −41.4% | −44.4% |
| SO The Southern Company | 6 of 10 | −1.2% | −23.3% | −38.1% | −9.6% | −1.9% | −9.4% | −5.2% | 0.0% | −30.4% | −19.0% |
| EXC Exelon Corporation | 3 of 10 | −2.6% | −27.4% | −39.8% | −6.9% | −4.6% | −24.7% | −10.5% | −0.8% | −50.9% | −40.6% |
| WEC WEC Energy Group, Inc. | 6 of 10 | −1.9% | −23.6% | −32.3% | −9.8% | −4.0% | −9.6% | −12.0% | −0.6% | −24.4% | −21.3% |
| XEL Xcel Energy Inc. | 5 of 10 | −1.8% | −24.7% | −28.9% | −9.4% | −4.6% | −10.4% | −11.0% | −1.1% | −27.2% | −80.6% |
| DUK Duke Energy Corporation | 3 of 10 | −1.9% | −24.1% | −37.4% | −7.7% | −2.9% | −13.7% | −8.8% | 0.0% | −38.9% | −63.5% |
| DTE DTE Energy Company | 3 of 10 | −2.7% | −24.9% | −42.4% | −8.4% | −4.6% | −11.1% | −14.1% | −1.9% | −50.6% | −27.7% |
| CMS CMS Energy Corporation | 3 of 10 | −2.8% | −26.5% | −29.3% | −9.8% | −3.9% | −10.4% | −13.5% | −1.3% | −49.4% | −79.9% |
| PPL PPL Corporation | 4 of 10 | −1.9% | −21.8% | −47.1% | −13.1% | −5.3% | −11.7% | −11.5% | 0.0% | −53.5% | −55.4% |
| PEG Public Service Enterprise Group Incorporated | 0 of 10 | −3.6% | −27.3% | −38.0% | −10.8% | −6.6% | −14.8% | −13.4% | −1.0% | −51.0% | −48.3% |
| SRE Sempra | 3 of 10 | −3.1% | −19.4% | −44.6% | −9.4% | −2.1% | −17.0% | −12.7% | −1.3% | −40.7% | −40.7% |
| CEG Constellation Energy Corporation | 0 of 1 | −2.0% | — | — | — | — | — | — | — | — | — |
| AES The AES Corporation | 0 of 10 | −7.4% | −27.3% | −54.3% | −13.7% | −9.5% | −34.0% | −26.7% | −7.6% | −78.2% | −98.4% |
| BEP Brookfield Renewable Partners L.P. | 2 of 9 | −2.1% | −30.5% | −45.4% | −19.4% | −1.5% | −25.1% | −14.8% | 0.0% | −36.7% | — |
| ES Eversource Energy | 4 of 10 | −2.7% | −23.1% | −36.8% | −9.1% | −5.4% | −11.5% | −13.8% | −1.8% | −40.3% | −43.1% |
How closely does NEE move with the S&P 500?
Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares NEE with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- Over the past 10 years, NEE captured 62% of the S&P 500's gains in rising months and 44% of its losses in falling months, with a beta of 0.45. That is a defensive profile: it gave up some of the market's upside in exchange for smaller losses.
- ETR took just 24% of the S&P 500's losses, against 44% for NEE, while still keeping 58% of its gains.
- Ten of the 22 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than NEE's 1.40, led by ETR, SO and AEP.
Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than NEE's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| NEE This pageNextEra Energy, Inc. | 62% | 44% | 1.40 | 0.45 |
| ETR Entergy Corporation | 58% | 24% | 2.39 | 0.53 |
| SO The Southern Company | 41% | 20% | 1.98 | 0.39 |
| AEP American Electric Power Company, Inc. | 44% | 23% | 1.93 | 0.40 |
| EXC Exelon Corporation | 40% | 21% | 1.91 | 0.37 |
| DUK Duke Energy Corporation | 35% | 19% | 1.88 | 0.33 |
| ED Consolidated Edison, Inc. | 31% | 18% | 1.75 | 0.22 |
| WEC WEC Energy Group, Inc. | 41% | 23% | 1.73 | 0.34 |
| XEL Xcel Energy Inc. | 41% | 24% | 1.68 | 0.35 |
| CMS CMS Energy Corporation | 35% | 23% | 1.56 | 0.28 |
| AEE Ameren Corporation | 51% | 33% | 1.52 | 0.38 |
| FE FirstEnergy Corp. | 40% | 33% | 1.22 | 0.36 |
| LNT Alliant Energy Corporation | 50% | 45% | 1.13 | 0.46 |
| EVRG Evergy, Inc. | 42% | 38% | 1.11 | 0.47 |
| DTE DTE Energy Company | 47% | 42% | 1.11 | 0.50 |
| PEG Public Service Enterprise Group Incorporated | 52% | 47% | 1.09 | 0.53 |
| SRE Sempra | 48% | 49% | 0.97 | 0.60 |
| BEP Brookfield Renewable Partners L.P. | 85% | 96% | 0.88 | 0.91 |
| FSLR First Solar, Inc. | 135% | 161% | 0.84 | 1.55 |
| ES Eversource Energy | 49% | 61% | 0.79 | 0.52 |
| PPL PPL Corporation | 52% | 77% | 0.67 | 0.65 |
| AES The AES Corporation | 80% | 122% | 0.66 | 0.91 |
| D Dominion Energy, Inc. | 43% | 70% | 0.61 | 0.52 |
What diversifies NEE?
Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with NEE's. Because such investments tend not to fall at the same time, pairing NEE with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in NEE into DXJ would have cut the portfolio's volatility by 18% over the past 5 years and raised its annual return (+2.0% for NEE alone, +7.2% for the mix).
- Among large ETFs, LVHI, DXJ and HDV have moved largely independently of NEE over the past 5 years, with correlations of 0.46 or lower, and each still earned a positive 5-year return.
- CLS made money in three of the five calendar years in which NEE lost money.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which NEE lost money. The last two columns show a portfolio that is 80% NEE and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2023 | 2022 | 2008 | 2001 | 1999 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|
| NEE NextEra Energy, Inc. (this page) | 1.00 | +11.0% | 0.21 | −25.3% | −8.5% | −23.5% | −18.5% | −28.0% | 25.6% | +2.0% |
| LVHI InternationalFranklin International Low Volatility High Dividend Index ETF | 0.36 | +119% | 1.48 | +17.4% | +3.8% | — | — | — | 21.2% | +5.3% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.13 | +225% | 1.34 | +42.0% | +6.0% | −20.8% | — | — | 21.0% | +7.2% |
| HDV Dividend & IncomeiShares Core High Dividend ETF | 0.46 | +86.8% | 1.03 | +1.7% | +7.0% | — | — | — | 21.9% | +4.4% |
| MLPX EnergyGlobal X - MLP & Energy Infrastructure ETF | 0.30 | +138% | 0.98 | +15.8% | +21.5% | — | — | — | 21.9% | +6.0% |
| DBEF InternationalXtrackers MSCI EAFE Hedged Equity ETF | 0.37 | +83.6% | 0.95 | +20.1% | −5.1% | — | — | — | 21.4% | +4.7% |
| SMH TechnologyVanEck Semiconductor ETF | 0.28 | +304% | 0.94 | +73.4% | −33.5% | −44.7% | −14.6% | — | 23.4% | +9.5% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.18 | +178% | 0.94 | −0.6% | +64.4% | −39.0% | −18.2% | +18.1% | 22.0% | +6.8% |
| GLD CommoditiesSPDR Gold Shares | 0.36 | +120% | 0.93 | +12.7% | −0.8% | +4.9% | — | — | 22.0% | +5.6% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2023 | 2022 | 2008 | 2001 | 1999 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|
| NEE NextEra Energy, Inc. (this page) | 1.00 | +11.0% | 0.21 | −25.3% | −8.5% | −23.5% | −18.5% | −28.0% | 25.6% | +2.0% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.20 | +471% | 1.54 | +34.1% | +54.1% | −39.6% | −2.5% | −36.8% | 22.1% | +9.3% |
| CLS Hardware, Equipment & PartsCelestica Inc. | 0.07 | +2,780% | 1.43 | +160% | +1.3% | −20.5% | −25.6% | +350% | 24.3% | +21.5% |
| MCK Medical - DistributionMcKesson Corporation | 0.20 | +397% | 1.41 | +24.1% | +51.8% | −40.4% | +4.9% | −71.3% | 22.1% | +8.7% |
| FIX Engineering & ConstructionComfort Systems USA, Inc. | 0.33 | +1,452% | 1.41 | +79.6% | +17.0% | −15.2% | +73.7% | −58.7% | 24.9% | +17.1% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.15 | +660% | 1.39 | +30.4% | +86.6% | — | — | — | 22.4% | +11.3% |
Common questions
What was NEE's worst drawdown?
NEE's deepest decline since it began trading in 1986 was 47.9%, from December 2007 to October 2008. It took about four years from the low to climb back to its old high.
What were NEE's best and worst years?
Over 29 full calendar years, NEE's best year was 2000, when it returned 74.7%. Its worst was 1999, with a return of -28.0%.
Is there a better investment than NEE?
Among NEE's popular alternatives, AEP, EVRG and ETR earned more than NEE with less volatility over the past 5 years. AEP returned 12.8% a year at 20.2% volatility, against 2.1% a year at 26.9%. Looking beyond its popular alternatives, NI (gas utilities) and NWE (electric utilities) earned more than NEE with less volatility over the past 5 years. NI returned 15.5% a year at 20.3% volatility, against 2.1% a year at 26.9%.
Is NEE more volatile than the S&P 500?
Yes. NEE's volatility over the past 5 years was 26.9%, 1.6 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, NEE's return lands within 26.9% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.
What is NEE's Sharpe ratio?
NEE's Sharpe ratio over the past 5 years was 0.21, against 0.78 for the S&P 500, so NEE earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.
How correlated is NEE with the S&P 500?
Over the past 5 years, NEE's monthly returns had a correlation of 0.40 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They are only loosely linked, which makes it a real diversifier next to an index fund. In the table, the correlation column measures each option against NEE instead: the lower it is, the more that option would diversify a NEE holding.
What are the best alternatives to NEE?
Of the 25 popular alternatives we compared, three outperformed NEE in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: ETR, AEP and EVRG.
Did NEE outperform the S&P 500?
NEE finished ahead of the S&P 500 (SPY) in 16 of 29 full calendar years. In 2025, it returned +15.5%, against +17.7% for the index.
How did NEE do in stock market crashes?
NEE fell less than the S&P 500 (SPY) in six of the ten major crashes it has traded through, and further in one. The clearest case was the dot-com bust, when NEE fell 32.2% and the S&P 500 fell 47.5%.
What diversifies NEE?
These had a low correlation with NEE over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.36), DXJ (correlation 0.13) and HDV (correlation 0.46); among large stocks, CAH (correlation 0.20), CLS (correlation 0.07) and MCK (correlation 0.20). A correlation near zero means the two have moved largely independently.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y; long-term periods are 3Y, 5Y, 10Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than NEE's. Returns within 0.5 points or 3% of NEE's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
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