CNRG vs. GLDM
CNRG (SPDR S&P Kensho Clean Power ETF) and GLDM (SPDR Gold MiniShares Trust) are both exchange-traded funds - CNRG is a Alternative Energy Equities fund tracking the S&P Kensho Clean Power Index, while GLDM is a Gold fund tracking the LBMA Gold Price PM. Both are passively managed. Over the past 5 years, CNRG returned 2.77%/yr vs 18.18%/yr for GLDM. At a 0.14 correlation, their price movements are largely independent. CNRG charges 0.45%/yr vs 0.10%/yr for GLDM.
Performance
CNRG vs. GLDM - Performance Comparison
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Returns By Period
In the year-to-date period, CNRG achieves a 23.15% return, which is significantly higher than GLDM's -4.72% return.
CNRG
- 1D
- -4.63%
- 1M
- -5.18%
- YTD
- 23.15%
- 6M
- 19.33%
- 1Y
- 95.92%
- 3Y*
- 12.18%
- 5Y*
- 2.77%
- 10Y*
- —
GLDM
- 1D
- -1.91%
- 1M
- -8.82%
- YTD
- -4.72%
- 6M
- -8.62%
- 1Y
- 21.66%
- 3Y*
- 28.79%
- 5Y*
- 18.18%
- 10Y*
- —
CNRG vs. GLDM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CNRG SPDR S&P Kensho Clean Power ETF | 23.15% | 50.23% | -14.48% | -11.55% | -7.98% | -15.68% | 138.35% | 63.26% | -2.05% |
GLDM SPDR Gold MiniShares Trust | -4.72% | 64.20% | 27.08% | 13.04% | -0.47% | -4.01% | 25.10% | 18.10% | 4.82% |
Correlation
The correlation between CNRG and GLDM is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2018 | 0.14 |
The correlation between CNRG and GLDM shifts across timeframes, from 0.14 (all time) to 0.32 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CNRG vs. GLDM — Risk / Return Rank
CNRG
GLDM
CNRG vs. GLDM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Kensho Clean Power ETF (CNRG) and SPDR Gold MiniShares Trust (GLDM). 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 | GLDM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.74 | ||
| Sortino ratioReturn per unit of downside risk | +1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.17 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 5.36 | 0.89 | +4.46 |
| Martin ratioReturn relative to average drawdown | 13.03 | 2.40 | +10.63 |
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Drawdowns
CNRG vs. GLDM - Drawdown Comparison
The maximum CNRG drawdown since its inception was -68.49%, which is greater than GLDM's maximum drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for CNRG and GLDM.
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Drawdown Indicators
| CNRG | GLDM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.49% | -24.35% | -44.14% |
Max Drawdown (1Y)Largest decline over 1 year | -18.01% | -24.35% | +6.34% |
Max Drawdown (3Y)Largest decline over 3 years | -48.77% | -24.35% | -24.42% |
Max Drawdown (5Y)Largest decline over 5 years | -59.17% | -24.35% | -34.82% |
Current DrawdownCurrent decline from peak | -19.92% | -23.82% | +3.90% |
Average DrawdownAverage peak-to-trough decline | -31.72% | -6.32% | -25.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.39% | 9.05% | -1.66% |
Volatility
CNRG vs. GLDM - Volatility Comparison
SPDR S&P Kensho Clean Power ETF (CNRG) has a higher volatility of 15.67% compared to SPDR Gold MiniShares Trust (GLDM) at 8.16%. This indicates that CNRG's price experiences larger fluctuations and is considered to be riskier than GLDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNRG | GLDM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.67% | 8.16% | +7.51% |
Volatility (6M)Calculated over the trailing 6-month period | 27.25% | 24.22% | +3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.05% | 27.36% | +10.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.47% | 18.15% | +16.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.98% | 17.02% | +18.96% |
CNRG vs. GLDM - Expense Ratio Comparison
CNRG has a 0.45% expense ratio, which is higher than GLDM's 0.10% expense ratio.
Dividends
CNRG vs. GLDM - Dividend Comparison
CNRG's dividend yield for the trailing twelve months is around 1.11%, while GLDM has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CNRG SPDR S&P Kensho Clean Power ETF | 1.11% | 1.46% | 1.34% | 1.17% | 1.23% | 1.34% | 0.69% | 1.16% | 0.35% |
GLDM SPDR Gold MiniShares Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CNRG and GLDM have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNRG has higher volatility (15.67%) compared to GLDM (8.16%). In terms of maximum drawdown, CNRG dropped -68.49% vs GLDM's -24.35%.
On 5-year performance, GLDM leads with 18.18% vs 2.77% for CNRG. On fees, GLDM is cheaper at 0.10% per year. On volatility, GLDM has been the lower-risk option at 8.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GLDM has performed better with a 18.18% return vs 2.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDM is cheaper with a 0.10% expense ratio, compared with 0.45% for CNRG.
CNRG has the higher dividend yield at 1.11%, compared with 0.00% for GLDM.
CNRG is categorized as Alternative Energy Equities, while GLDM is Gold. CNRG tracks S&P Kensho Clean Power Index, while GLDM tracks LBMA Gold Price PM. Their fees differ too: 0.45% for CNRG and 0.10% for GLDM.
CNRG currently has the higher Sharpe Ratio (2.53 vs 0.80), 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.
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