CNRG vs. COWZ

Last updated Jun 4, 2026

CNRG (SPDR S&P Kensho Clean Power ETF) and COWZ (Pacer US Cash Cows 100 ETF) are both exchange-traded funds - CNRG is a Alternative Energy Equities fund tracking the S&P Kensho Clean Power Index, while COWZ is a Mid Cap Value Equities fund tracking the Pacer US Cash Cows 100 Index. Both are passively managed. Over the past 5 years, CNRG returned 5.21%/yr vs 10.57%/yr for COWZ. A 0.56 correlation means they provide meaningful diversification when combined. CNRG charges 0.45%/yr vs 0.49%/yr for COWZ.

Performance

CNRG vs. COWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Kensho Clean Power ETF (CNRG) and Pacer US Cash Cows 100 ETF (COWZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNRG achieves a 36.68% return, which is significantly higher than COWZ's 8.18% return.

CNRG

• 1D: -2.81%
• 1M: 18.72%
• YTD: 36.68%
• 6M: 32.67%
• 1Y: 117.30%
• 3Y*: 15.27%
• 5Y*: 5.21%
• 10Y*: —

COWZ

• 1D: -0.34%
• 1M: 2.61%
• YTD: 8.18%
• 6M: 9.03%
• 1Y: 22.23%
• 3Y*: 14.44%
• 5Y*: 10.57%
• 10Y*: —

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

CNRG vs. COWZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CNRG SPDR S&P Kensho Clean Power ETF	36.68%	50.23%	-14.48%	-11.55%	-7.98%	-15.68%	138.35%	63.26%	-2.87%
COWZ Pacer US Cash Cows 100 ETF	8.18%	8.98%	10.64%	14.73%	0.19%	42.57%	11.65%	23.41%	-9.74%

Correlation

The correlation between CNRG and COWZ is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Oct 24, 2018	0.56

Over the past year, the correlation between CNRG and COWZ has dropped to 0.31 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.

CNRG vs. COWZ - Sectors Allocation Comparison

Sectors	CNRG	COWZ
Industrials	41.2%	8.4%
Technology	29.1%	16.0%
Utilities	25.2%	-
Energy	3.0%	16.9%
Consumer Cyclical	1.6%	11.7%
Basic Materials	-	3.7%
Communication Services	-	10.4%
Consumer Defensive	-	10.9%
Financial Services	-	-
Healthcare	-	21.8%
Real Estate	-	-

Return for Risk

CNRG vs. COWZ — Risk / Return Rank

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

CNRG

CNRG Risk / Return Rank: 84
CNRG Sharpe Ratio Rank: 91
CNRG Sortino Ratio Rank: 79
CNRG Omega Ratio Rank: 76
CNRG Calmar Ratio Rank: 93
CNRG Martin Ratio Rank: 83

COWZ

COWZ Risk / Return Rank: 65
COWZ Sharpe Ratio Rank: 59
COWZ Sortino Ratio Rank: 62
COWZ Omega Ratio Rank: 57
COWZ Calmar Ratio Rank: 83
COWZ Martin Ratio Rank: 65

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. COWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Kensho Clean Power ETF (CNRG) and Pacer US Cash Cows 100 ETF (COWZ). 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.

	CNRG	COWZ	Difference
Sharpe ratio Return per unit of total volatility	3.25	2.02	+1.23
Sortino ratio Return per unit of downside risk	3.58	2.98	+0.60
Omega ratio Gain probability vs. loss probability	1.46	1.36	+0.10
Calmar ratio Return relative to maximum drawdown	6.65	4.46	+2.19
Martin ratio Return relative to average drawdown	17.06	12.19	+4.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNRG vs. COWZ - Sharpe Ratio Comparison

The current CNRG Sharpe Ratio is 3.25, which is higher than the COWZ Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of CNRG and COWZ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CNRG	COWZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.25	2.02	+1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.60	-0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.65	-0.03

Drawdowns

CNRG vs. COWZ - Drawdown Comparison

The maximum CNRG drawdown since its inception was -68.49%, which is greater than COWZ's maximum drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for CNRG and COWZ.

Drawdown Indicators

	CNRG	COWZ	Difference
Max Drawdown Largest peak-to-trough decline	-68.49%	-38.63%	-29.86%
Max Drawdown (1Y) Largest decline over 1 year	-17.73%	-5.00%	-12.73%
Max Drawdown (3Y) Largest decline over 3 years	-48.77%	-22.00%	-26.77%
Max Drawdown (5Y) Largest decline over 5 years	-59.17%	-22.00%	-37.17%
Current Drawdown Current decline from peak	-11.12%	-0.91%	-10.21%
Average Drawdown Average peak-to-trough decline	-31.82%	-4.81%	-27.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.90%	1.83%	+5.07%

Volatility

CNRG vs. COWZ - Volatility Comparison

SPDR S&P Kensho Clean Power ETF (CNRG) has a higher volatility of 12.13% compared to Pacer US Cash Cows 100 ETF (COWZ) at 2.56%. This indicates that CNRG's price experiences larger fluctuations and is considered to be riskier than COWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNRG	COWZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.13%	2.56%	+9.57%
Volatility (6M) Calculated over the trailing 6-month period	25.44%	7.12%	+18.32%
Volatility (1Y) Calculated over the trailing 1-year period	36.49%	11.13%	+25.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.99%	17.63%	+16.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.78%	19.93%	+15.85%

CNRG vs. COWZ - Expense Ratio Comparison

CNRG has a 0.45% expense ratio, which is lower than COWZ's 0.49% expense ratio.

Dividends

CNRG vs. COWZ - Dividend Comparison

CNRG's dividend yield for the trailing twelve months is around 1.01%, less than COWZ's 1.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CNRG SPDR S&P Kensho Clean Power ETF	1.01%	1.46%	1.34%	1.17%	1.23%	1.34%	0.69%	1.16%	0.35%	0.00%	0.00%
COWZ Pacer US Cash Cows 100 ETF	1.99%	2.19%	1.82%	1.92%	1.96%	1.48%	2.54%	1.96%	1.67%	1.95%	0.13%

Frequently Asked Questions

Can I hold both CNRG and COWZ in my portfolio?

CNRG and COWZ have a correlation of 0.31, 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 COWZ?

CNRG has higher volatility (12.13%) compared to COWZ (2.56%). In terms of maximum drawdown, CNRG dropped -68.49% vs COWZ's -38.63%.

Which ETF is better, CNRG or COWZ?

On 5-year performance, COWZ leads with 10.57% vs 5.21% for CNRG. On fees, CNRG is cheaper at 0.45% per year. On volatility, COWZ has been the lower-risk option at 2.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CNRG or COWZ?

Over the 5-year period, COWZ has performed better with a 10.57% return vs 5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CNRG or COWZ?

CNRG is cheaper with a 0.45% expense ratio, compared with 0.49% for COWZ.

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

COWZ has the higher dividend yield at 1.99%, compared with 1.01% for CNRG.

What is the main difference between CNRG and COWZ?

CNRG is categorized as Alternative Energy Equities, while COWZ is Mid Cap Value Equities. CNRG tracks S&P Kensho Clean Power Index, while COWZ tracks Pacer US Cash Cows 100 Index. They also come from different issuers: State Street and Pacer. Their fees differ too: 0.45% for CNRG and 0.49% for COWZ.

Which has better risk-adjusted returns?

CNRG currently has the higher Sharpe Ratio (3.25 vs 2.02), 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.