It's pretty key to understand that Fortis is a very defensive utility. In fact, some have essentially compared utility stocks like Fortis and Canadian Utilities to a high grade bond, due to their reliable income.
Fortis did crash in March, but we have to also understand that within a month, it had recovered most of its losses while the TSX Index remained down 25%. To put it in exact numbers, as of March 31st 2020 the TSX was down 25% while Fortis was down only 7%.
Obviously in this type of situation, we can expect Fortis to return less than the Index's recovery from that point onward, it already had a 18% head start.
This isn't a company that's growing very fast. It's not a flashy stock. But, if we look back to March again, a position in Fortis would have reduced the overall volatility in your portfolio, along with providing you with a strong dividend.
This is a stock that will typically provide you with 5-7% in capital appreciation, a 3.5-4% dividend yield and some peace of mind when the markets get rocky.