CNRG vs. ENLT

Last updated Jun 4, 2026

CNRG (SPDR S&P Kensho Clean Power ETF) is Alternative Energy Equities fund tracking the S&P Kensho Clean Power Index, while ENLT (Enlight Renewable Energy Ltd. Ordinary Shares) is a stock. Over the past 3 years, CNRG returned 15.27%/yr vs 73.41%/yr for ENLT. At a 0.36 correlation, their price movements are largely independent.

Performance

CNRG vs. ENLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Kensho Clean Power ETF (CNRG) and Enlight Renewable Energy Ltd. Ordinary Shares (ENLT). 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 lower than ENLT's 111.06% return.

CNRG

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

ENLT

• 1D: -8.23%
• 1M: 8.05%
• YTD: 111.06%
• 6M: 128.78%
• 1Y: 387.06%
• 3Y*: 73.41%
• 5Y*: —
• 10Y*: —

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

CNRG vs. ENLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CNRG SPDR S&P Kensho Clean Power ETF	36.68%	50.23%	-14.48%	-17.39%
ENLT Enlight Renewable Energy Ltd. Ordinary Shares	111.06%	163.61%	-9.90%	7.83%

Correlation

The correlation between CNRG and ENLT is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (All Time) Calculated using the full available price history since Feb 13, 2023	0.36

Return for Risk

CNRG vs. ENLT — 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

ENLT

ENLT Risk / Return Rank: 99
ENLT Sharpe Ratio Rank: 99
ENLT Sortino Ratio Rank: 98
ENLT Omega Ratio Rank: 97
ENLT Calmar Ratio Rank: 99
ENLT Martin Ratio Rank: 100

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. ENLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Kensho Clean Power ETF (CNRG) and Enlight Renewable Energy Ltd. Ordinary Shares (ENLT). 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	ENLT	Difference
Sharpe ratio: Return per unit of total volatility	3.25	7.35	-4.10
Sortino ratio: Return per unit of downside risk	3.58	5.51	-1.92
Omega ratio: Gain probability vs. loss probability	1.46	1.74	-0.28
Calmar ratio: Return relative to maximum drawdown	6.65	21.70	-15.04
Martin ratio: Return relative to average drawdown	17.06	76.57	-59.52
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. ENLT - Sharpe Ratio Comparison

The current CNRG Sharpe Ratio is 3.25, which is lower than the ENLT Sharpe Ratio of 7.35. The chart below compares the historical Sharpe Ratios of CNRG and ENLT, 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	ENLT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.25	7.35	-4.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	1.51	-0.89

Drawdowns

CNRG vs. ENLT - Drawdown Comparison

The maximum CNRG drawdown since its inception was -68.49%, which is greater than ENLT's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for CNRG and ENLT.

Drawdown Indicators

	CNRG	ENLT	Difference
Max Drawdown Largest peak-to-trough decline	-68.49%	-39.32%	-29.17%
Max Drawdown (1Y) Largest decline over 1 year	-17.73%	-17.98%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-48.77%	-39.32%	-9.45%
Max Drawdown (5Y) Largest decline over 5 years	-59.17%	—	—
Current Drawdown Current decline from peak	-11.12%	-10.68%	-0.44%
Average Drawdown Average peak-to-trough decline	-31.82%	-11.88%	-19.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.90%	5.08%	+1.82%

Volatility

CNRG vs. ENLT - Volatility Comparison

The current volatility for SPDR S&P Kensho Clean Power ETF (CNRG) is 12.13%, while Enlight Renewable Energy Ltd. Ordinary Shares (ENLT) has a volatility of 22.74%. This indicates that CNRG experiences smaller price fluctuations and is considered to be less risky than ENLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNRG	ENLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.13%	22.74%	-10.61%
Volatility (6M) Calculated over the trailing 6-month period	25.44%	43.49%	-18.05%
Volatility (1Y) Calculated over the trailing 1-year period	36.49%	53.07%	-16.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.99%	44.38%	-10.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.78%	44.38%	-8.60%

Dividends

CNRG vs. ENLT - Dividend Comparison

CNRG's dividend yield for the trailing twelve months is around 1.01%, while ENLT has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
ENLT Enlight Renewable Energy Ltd. Ordinary Shares	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CNRG and ENLT in my portfolio?

CNRG and ENLT have a correlation of 0.41, 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 ENLT?

ENLT has higher volatility (22.74%) compared to CNRG (12.13%). In terms of maximum drawdown, CNRG dropped -68.49% vs ENLT's -39.32%.

Which has better risk-adjusted returns?

ENLT currently has the higher Sharpe Ratio (7.35 vs 3.25), 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.