There isn’t a such issue as a such problem as a getting spherical it: Tesla (NASDAQ:TSLA) has been an insanely good funding, producing large returns for patrons eager to hold by means of all the noise and distractions, to not stage out the potential implications of a world recession. Moreover, it isn’t merely hype: Tesla is an surroundings good enterprise that makes revolutionary and compelling autos that folk love.Its technological head start in battery tech and vertical integration in battery manufacturing have moreover confirmed large advantages, to not stage out the potential for its renewable vitality merchandise, and the appears of autonomous-vehicle suppliers which may ship future earnings.Image current: Getty Footage.I’m not a Tesla bear. It’s a unbelievable company that has modified the world of autos for the upper, and totally. Nonetheless I take into consideration there are bigger stocks to buy acceptable now.One among my favorites is Brookfield Renewable (NYSE:BEP) (NYSE:BEPC). It may not have supplied Tesla-level returns over the previous few years, nonetheless it’s been a market-beating funding in its private acceptable, and has some very exact advantages making it the upper funding. Listed beneath are two predominant causes.1. Predicting future returnsAs heaps as Tesla has been a worthwhile funding, there isn’t any getting spherical it: An infinite amount of the stock constructive parts acquired applicable right correct proper right here from the stock’s valuation rising, not elementary enchancment in its outcomes.At this writing, Tesla shares now commerce for practically 17 events product product product sales. That’s further per the kind of price-to-sales (P/S) quite a few you’d rely upon a high-growth, high-margin software program program program program program program stock to earn — not shares of a producer. At this writing, Tesla trades for the subsequent valuation than a substantial amount of of most really primarily principally basically essentially the most worthwhile and useful high-margin tech stocks on this planet:TSLA PS Ratio information by YCharts.The big takeaway is that Tesla’s returns have hinged all by the market rising how heaps it values the stock, not enhancements in its underlying enterprise outcomes. Tesla has moved from in search of and promoting on the underside P/S quite a few to — by far — the best.Applicable right correct proper right here is the rub: Even when it brings higher-margin autonomous suppliers into the combo lastly, Tesla acquired’t ever be the type of enterprise that earns 50% or bigger gross margins. Of the companies on this options, Amazon (NASDAQ:AMZN) may be primarily most really primarily principally basically essentially the most associated comparability: one with a enterprise that may be a mixture of suppliers and bodily merchandise. Because of chart above reveals, Tesla trades at an infinite premium, considering the place its future margins generally normally are inclined to fall.Now let’s try that to Brookfield Renewable:TSLA PS Ratio information by YCharts.What does this inform us? In short, Brookfield Renewable generates pretty sturdy margins of its private, nonetheless hasn’t seen its product product product sales quite a few change very heaps over the earlier quite a few years. It’s moreover made for a fairly good funding, greater than doubling the SPDR S&P 500 ETF Notion (NYSEMKT: SPY) over the earlier three years:TSLA Full Return price information by YCharts.As heaps as Tesla has grown its enterprise, patrons paying a progressively greater valuation have pushed the overwhelming majority of returns. Brookfield Renewable has delivered unimaginable returns just about solely from rising its enterprise. A type of is a predictor for future returns; one acquired’t be.And that objects up Brookfield Renewable to proceed delivering unbelievable returns for patrons. Its administration has an unimaginable monitor file of allocating capital, and the costs for renewables are falling. That’s further further further further extra prone to allow Brookfield to amass and develop further of the utility-scale electrical vitality producing property that ship frequent, recurring cash change, which has made it an superior funding over the earlier decade.Constructive, Tesla is further further further further extra prone to return to product product product sales progress, and its market quite a few is huge. Nonetheless the draw as shortly as further risks at its current valuation are heaps bigger than the prospects for market-beating returns.2. Constructed for any monetary atmosphereTesla has confirmed further resilient to the coronavirus recession than anticipated, with product product product sales falling solely 5% all via the second quarter whereas many alternative automakers seen product product product sales fall 20% or further. There’s moreover its vitality storage enterprise, which has large progress prospects, as utilities look to leverage the experience to exchange older, dearer methods of vitality interval from hydrocarbons.Nonetheless as time passes, the cyclical nature of these companies will present out. Utility-scale investments can ebb and alter from one yr to the following, and as Tesla’s electrical autos flip into further mainstream, the worldwide financial system will set off its product product product sales to fluctuate. That’s among the many many many many many causes that the majority automakers reap some nice advantages of third occasions for many parts, whereas Tesla has a extreme diploma of vertical integration. Whereas that may be a aggressive earnings relevant this second, over time it may present a detriment to remaining nimble in its very cyclical end markets.Brookfield Renewable, nonetheless, sells electrical vitality from wind, picture voltaic, and hydroelectric vitality corporations it owns. The demand for electrical vitality is usually very mounted, and it sells that vitality beneath long-term contracts. The consequence’s terribly predictable and caught cash change that it’ll presumably allocate to future progress, and return to patrons by an enormous dividend.This has already confirmed out, with Brookfield Renewables’ predictable cash change, in distinction with Tesla’s large swings:BEP Cash from Operations (TTM) information by YCharts.At present prices, patrons would earn greater than 4% in yield, an enormous payout that delivers a predictable current of returns by itself. The monitor file of rising the payout is equally spectacular, up over 300% over the earlier decade. Moreover, patrons can rely upon payout progress that continues to be above-average, since Brookfield targets to increase the dividend about 8% yearly.Put all of it collectively, and as Tesla grows bigger, the bar is probably raised for it to on a regular basis outperform in a difficult, cyclical commerce. Brookfield Renewable, nonetheless, is constructed to proceed delivering whatever the monetary environment, and may actually earnings from parts that harm Tesla.Two good companies, nonetheless only one good stockI actually like Tesla the company. Elon Musk is a visionary who has achieved an unimaginable job taking his imaginative and prescient and delivering unimaginable merchandise and life-changing returns for patrons. I moreover suppose Tesla is further further further further extra prone to proceed rising, and sometimes is a pacesetter in definitely one in all many finest methods ahead for transportation and battery experience for years to return as shortly as further. It’s undoubtedly worth a premium to any commonplace automaker.Nonetheless I don’t suppose it’s an superior stock for anyone looking for to make investments relevant this second. Even an pretty enterprise like Tesla is solely not an superior funding at any price.Brookfield Renewable will doable be an pretty enterprise, with a very prolonged file of rewarding patrons who’ve bought and held on tight. The excellence between the two is simple: Brookfield Renewable trades for a cheap valuation, and the character of its enterprise and the large quite a few for renewables progress make it far easier for patrons to predict a path to continued market-beating returns.