HESM vs SPY

Comparison between Hess Midstream LP - Class A (HESM, Company) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceHESM has outperformed SPY, delivering a return of +20.4% compared to +13.7%

HESM vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HESM(COMPANY)	SPY(ETF)
Market Cap / Net Assets	$8.06B	$735B
Expense Ratio	N/A	0.09%
Max Drawdown	76.25%	56.47%
Sharpe Ratio	0.42	1.76
5Y Beta	0.52	1.00
Industry	Oil & Gas Midstream	N/A
P/E Ratio	22.84	28.46
Forward P/E	14.22	21.99
PEG Ratio	1.57	N/A
Dividend Yield	7.74%	N/A
5Y Dividends CAGR	16.07%	5.43%
5Y EPS CAGR	N/A	25.20%
Debt to Equity	N/A	33.33%
Free Cash Flow Yield	9.87%	N/A
P/S Ratio	4.98	3.65
P/B Ratio	9.46	5.50

Market Cap / Net Assets

HESM

$8.06B

Winner

SPY

$735B

Expense Ratio

HESM

N/A

SPY

0.09%

Max Drawdown

HESM

76.25%

Winner

SPY

56.47%

Sharpe Ratio

HESM

0.42

Winner

SPY

1.76

5Y Beta

Winner

HESM

0.52

SPY

1.00

Industry

HESM

Oil & Gas Midstream

SPY

N/A

P/E Ratio

Winner

HESM

22.84

SPY

28.46

Forward P/E

Winner

HESM

14.22

SPY

21.99

PEG Ratio

HESM

1.57

SPY

N/A

Dividend Yield

HESM

7.74%

SPY

N/A

5Y Dividends CAGR

Winner

HESM

16.07%

SPY

5.43%

5Y EPS CAGR

HESM

N/A

SPY

25.20%

Debt to Equity

HESM

N/A

SPY

33.33%

Free Cash Flow Yield

HESM

9.87%

SPY

N/A

P/S Ratio

HESM

4.98

Winner

SPY

3.65

P/B Ratio

HESM

9.46

Winner

SPY

5.50

HESM vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	HESM	SPY
1 month	+9.25%	+5.60%
3 months	+10.95%	+8.72%
6 months	+24.73%	+10.63%
1 year	+11.39%	+26.62%
5 years(CAGR)	+20.40%	+13.70%
10 years(CAGR)	+13.26%	+15.47%
Max(CAGR)	+13.26%	+8.50%

Winner

HESM

+9.25%

SPY

+5.60%

Winner

HESM

+10.95%

SPY

+8.72%

Winner

HESM

+24.73%

SPY

+10.63%

HESM

+11.39%

Winner

SPY

+26.62%

5Y(CAGR)

Winner

HESM

+20.40%

SPY

+13.70%

10Y(CAGR)

HESM

+13.26%

Winner

SPY

+15.47%

Max(CAGR)

Winner

HESM

+13.26%

SPY

+8.50%

HESM vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	HESM	SPY
2026	+20.02%	+8.50%
2025	-0.95%	+18.00%
2024	+25.97%	+25.59%
2023	+15.48%	+26.72%
2022	+15.40%	-18.64%
2021	+56.13%	+30.52%
2020	-4.04%	+17.28%
2019	+38.63%	+31.09%
2018	-13.62%	-5.24%
2017	-20.42%	+20.78%
2016	N/A	+13.59%
2015	N/A	+1.31%
2014	N/A	+14.56%
2013	N/A	+29.00%
2012	N/A	+14.17%
2011	N/A	+0.85%
2010	N/A	+13.14%
2009	N/A	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

HESM vs SPY Drawdown Comparison

The maximum drawdown for HESM was -75.15%, occurring on Mar 18, 2020. Recovery took 282 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current HESM drawdown is -0.56%. The current SPY drawdown is -1.20%.

Rank	HESM	SPY
#1	-75.15% Jan 16, 2020 - Mar 2, 2021	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-31.59% May 2, 2017 - Dec 23, 2019	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-28.71% Jun 7, 2022 - Nov 17, 2023	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-25.77% Jul 31, 2025 - Oct 10, 2025	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-19.71% Mar 19, 2025 - Jul 31, 2025	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-17.43% Jun 15, 2021 - Sep 16, 2021	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-16.09% Sep 27, 2021 - Jan 7, 2022	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-13.96% Apr 14, 2022 - Jun 1, 2022	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-11.61% Mar 8, 2022 - Apr 14, 2022	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-11.28% Mar 10, 2021 - Apr 1, 2021	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-8.88% Jul 16, 2024 - Nov 27, 2024	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-7.85% Dec 4, 2023 - Jan 23, 2024	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-6.78% Jan 18, 2022 - Feb 11, 2022	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-6.52% Apr 3, 2024 - May 20, 2024	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-6.45% Sep 16, 2021 - Sep 23, 2021	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between HESM and SPY is 0.95 which considered as a very strong positive correlation - the stocks move almost identically together.

0.95

-101

Dividend Comparison (1999 - 2026)

HESM vs SPY dividend yield comparison.

Year	HESM	SPY
2026	3.87%	0.24%
2025	8.41%	1.07%
2024	7.12%	1.21%
2023	7.50%	1.40%
2022	7.30%	1.65%
2021	6.93%	1.20%
2020	8.86%	1.52%
2019	6.89%	1.75%
2018	8.00%	2.04%
2017	2.93%	1.80%
2016	0.00%	2.03%
2015	0.00%	2.06%
2014	0.00%	1.87%
2013	0.00%	1.81%
2012	0.00%	2.18%
2011	0.00%	2.05%
2010	0.00%	1.80%
2009	0.00%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%