CNRG vs. BKLC

Last updated Jul 14, 2026

CNRG (SPDR S&P Kensho Clean Power ETF) and BKLC (BNY Mellon US Large Cap Core Equity ETF) are both exchange-traded funds - CNRG is a Alternative Energy Equities fund tracking the S&P Kensho Clean Power Index, while BKLC is a Large Cap Blend Equities fund tracking the Morningstar US Large Cap Index. Both are passively managed. Over the past 5 years, CNRG returned 1.14%/yr vs 13.17%/yr for BKLC. A 0.61 correlation means they provide meaningful diversification when combined. CNRG charges 0.45%/yr vs 0.00%/yr for BKLC.

Performance

CNRG vs. BKLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Kensho Clean Power ETF (CNRG) and BNY Mellon US Large Cap Core Equity ETF (BKLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CNRG having a 10.03% return and BKLC slightly higher at 10.47%.

CNRG

• 1D: -3.12%
• 1M: -10.31%
• 6M: 2.17%
• YTD: 10.03%
• 1Y: 54.10%
• 3Y*: 6.23%
• 5Y*: 1.14%
• 10Y*: —

BKLC

• 1D: -0.77%
• 1M: 1.31%
• 6M: 8.45%
• YTD: 10.47%
• 1Y: 21.59%
• 3Y*: 21.06%
• 5Y*: 13.17%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CNRG vs. BKLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
CNRG SPDR S&P Kensho Clean Power ETF	10.03%	50.23%	-14.48%	-11.55%	-7.98%	-15.68%	179.91%
BKLC BNY Mellon US Large Cap Core Equity ETF	10.47%	18.06%	25.56%	30.88%	-20.52%	27.41%	37.31%

Correlation

The correlation between CNRG and BKLC is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Apr 9, 2020	0.61

The correlation between CNRG and BKLC has been stable across timeframes, ranging from 0.60 to 0.65 - a consistent structural relationship.

CNRG vs. BKLC - Sectors Allocation Comparison

Sectors	CNRG	BKLC
Industrials	35.6%	8.1%
Utilities	30.6%	2.0%
Energy	28.6%	3.2%
Technology	2.7%	38.8%
Consumer Cyclical	2.3%	10.1%
Basic Materials	-	1.8%
Communication Services	-	10.9%
Consumer Defensive	-	4.4%
Financial Services	-	10.7%
Healthcare	-	8.4%
Real Estate	-	1.7%

Return for Risk

CNRG vs. BKLC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CNRG

CNRG Risk / Return Rank: 51
CNRG Sharpe Ratio Rank: 51
CNRG Sortino Ratio Rank: 48
CNRG Omega Ratio Rank: 46
CNRG Calmar Ratio Rank: 63
CNRG Martin Ratio Rank: 49

BKLC

BKLC Risk / Return Rank: 64
BKLC Sharpe Ratio Rank: 64
BKLC Sortino Ratio Rank: 62
BKLC Omega Ratio Rank: 64
BKLC Calmar Ratio Rank: 60
BKLC Martin Ratio Rank: 70

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CNRG vs. BKLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Kensho Clean Power ETF (CNRG) and BNY Mellon US Large Cap Core Equity ETF (BKLC). 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.

	CNRG	BKLC	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.69	-0.28
Sortino ratio: Return per unit of downside risk	1.92	2.31	-0.39
Omega ratio: Gain probability vs. loss probability	1.24	1.31	-0.07
Calmar ratio: Return relative to maximum drawdown	2.50	2.38	+0.12
Martin ratio: Return relative to average drawdown	6.58	10.23	-3.65

CNRG vs. BKLC - Sharpe Ratio Comparison

The current CNRG Sharpe Ratio is 1.41, which is comparable to the BKLC Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of CNRG and BKLC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CNRG vs. BKLC - Drawdown Comparison

The maximum CNRG drawdown since its inception was -68.49%, which is greater than BKLC's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for CNRG and BKLC.

Drawdown Indicators

	CNRG	BKLC	Difference
Max Drawdown Largest peak-to-trough decline	-68.49%	-26.14%	-42.35%
Max Drawdown (1Y) Largest decline over 1 year	-21.77%	-9.10%	-12.67%
Max Drawdown (3Y) Largest decline over 3 years	-48.77%	-19.05%	-29.72%
Max Drawdown (5Y) Largest decline over 5 years	-59.17%	-26.14%	-33.03%
Current Drawdown Current decline from peak	-28.45%	-1.15%	-27.30%
Average Drawdown Average peak-to-trough decline	-31.66%	-5.21%	-26.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.25%	2.12%	+6.13%

Volatility

CNRG vs. BKLC - Volatility Comparison

SPDR S&P Kensho Clean Power ETF (CNRG) has a higher volatility of 12.86% compared to BNY Mellon US Large Cap Core Equity ETF (BKLC) at 4.13%. This indicates that CNRG's price experiences larger fluctuations and is considered to be riskier than BKLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNRG	BKLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.86%	4.13%	+8.73%
Volatility (6M) Calculated over the trailing 6-month period	28.07%	10.19%	+17.88%
Volatility (1Y) Calculated over the trailing 1-year period	38.75%	12.87%	+25.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.64%	17.29%	+17.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.03%	17.42%	+18.61%

CNRG vs. BKLC - Expense Ratio Comparison

CNRG has a 0.45% expense ratio, which is higher than BKLC's 0.00% expense ratio.

Dividends

CNRG vs. BKLC - Dividend Comparison

CNRG's dividend yield for the trailing twelve months is around 1.24%, more than BKLC's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BKLC BNY Mellon US Large Cap Core Equity ETF	1.06%	1.05%	1.22%	1.35%	1.64%	1.10%	0.84%	0.00%	0.00%
CNRG SPDR S&P Kensho Clean Power ETF	1.24%	1.46%	1.34%	1.17%	1.23%	1.34%	0.69%	1.16%	0.35%

Frequently Asked Questions

Can I hold both CNRG and BKLC in my portfolio?

CNRG and BKLC have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNRG or BKLC?

CNRG has higher volatility (12.86%) compared to BKLC (4.13%). In terms of maximum drawdown, CNRG dropped -68.49% vs BKLC's -26.14%.

Which ETF is better, CNRG or BKLC?

On 5-year performance, BKLC leads with 13.17% vs 1.14% for CNRG. On fees, BKLC is cheaper at 0.00% per year. On volatility, BKLC has been the lower-risk option at 4.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CNRG or BKLC?

Over the 5-year period, BKLC has performed better with a 13.17% return vs 1.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CNRG or BKLC?

BKLC is cheaper with a 0.00% expense ratio, compared with 0.45% for CNRG.

Which ETF pays a higher dividend yield, CNRG or BKLC?

CNRG has the higher dividend yield at 1.24%, compared with 1.06% for BKLC.

What is the main difference between CNRG and BKLC?

CNRG is categorized as Alternative Energy Equities, while BKLC is Large Cap Blend Equities. CNRG tracks S&P Kensho Clean Power Index, while BKLC tracks Morningstar US Large Cap Index. They also come from different issuers: State Street and BNY Mellon. Their fees differ too: 0.45% for CNRG and 0.00% for BKLC.

Which has better risk-adjusted returns?

BKLC currently has the higher Sharpe Ratio (1.69 vs 1.41), 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.