CNRG vs. GRID

Last updated Jun 24, 2026

CNRG (SPDR S&P Kensho Clean Power ETF) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both Alternative Energy Equities funds - CNRG tracks the S&P Kensho Clean Power Index while GRID tracks the Nasdaq Clean Edge Smart Grid Infrastructure Index. Both are passively managed. Over the past 5 years, CNRG returned 2.77%/yr vs 16.63%/yr for GRID. A 0.73 correlation means they provide meaningful diversification when combined. CNRG charges 0.45%/yr vs 0.70%/yr for GRID.

Performance

CNRG vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Kensho Clean Power ETF (CNRG) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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 23.15% return and GRID slightly higher at 23.40%.

CNRG

• 1D: -4.63%
• 1M: -5.18%
• YTD: 23.15%
• 6M: 19.33%
• 1Y: 95.92%
• 3Y*: 12.18%
• 5Y*: 2.77%
• 10Y*: —

GRID

• 1D: -4.46%
• 1M: -1.96%
• YTD: 23.40%
• 6M: 22.11%
• 1Y: 42.41%
• 3Y*: 24.21%
• 5Y*: 16.63%
• 10Y*: 19.95%

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

CNRG vs. GRID - 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%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	23.40%	29.65%	15.18%	21.57%	-13.89%	27.65%	48.84%	42.80%	-8.89%

Correlation

The correlation between CNRG and GRID is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Oct 23, 2018	0.73

The correlation between CNRG and GRID has been stable across timeframes, ranging from 0.71 to 0.75 - a consistent structural relationship.

CNRG vs. GRID - Sectors Allocation Comparison

Sectors	CNRG	GRID
Industrials	37.1%	24.2%
Utilities	27.1%	3.9%
Energy	23.5%	1.6%
Technology	10.6%	12.5%
Consumer Cyclical	1.6%	2.3%
Basic Materials	-	0.0%
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

CNRG vs. GRID — Risk / Return Rank

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

CNRG

CNRG Risk / Return Rank: 76
CNRG Sharpe Ratio Rank: 83
CNRG Sortino Ratio Rank: 69
CNRG Omega Ratio Rank: 67
CNRG Calmar Ratio Rank: 90
CNRG Martin Ratio Rank: 73

GRID

GRID Risk / Return Rank: 65
GRID Sharpe Ratio Rank: 63
GRID Sortino Ratio Rank: 57
GRID Omega Ratio Rank: 60
GRID Calmar Ratio Rank: 74
GRID Martin Ratio Rank: 72

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. GRID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Kensho Clean Power ETF (CNRG) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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	GRID	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.01	+0.53
Sortino ratio: Return per unit of downside risk	2.94	2.63	+0.32
Omega ratio: Gain probability vs. loss probability	1.38	1.35	+0.03
Calmar ratio: Return relative to maximum drawdown	5.36	3.63	+1.72
Martin ratio: Return relative to average drawdown	13.03	12.92	+0.11

CNRG vs. GRID - Sharpe Ratio Comparison

The current CNRG Sharpe Ratio is 2.53, which is comparable to the GRID Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of CNRG and GRID, 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. GRID - Drawdown Comparison

The maximum CNRG drawdown since its inception was -68.49%, which is greater than GRID's maximum drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for CNRG and GRID.

Drawdown Indicators

	CNRG	GRID	Difference
Max Drawdown Largest peak-to-trough decline	-68.49%	-40.56%	-27.93%
Max Drawdown (1Y) Largest decline over 1 year	-18.01%	-11.73%	-6.28%
Max Drawdown (3Y) Largest decline over 3 years	-48.77%	-20.77%	-28.00%
Max Drawdown (5Y) Largest decline over 5 years	-59.17%	-29.64%	-29.53%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.56%	—
Current Drawdown Current decline from peak	-19.92%	-5.55%	-14.37%
Average Drawdown Average peak-to-trough decline	-31.72%	-8.42%	-23.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.39%	3.29%	+4.10%

Volatility

CNRG vs. GRID - Volatility Comparison

SPDR S&P Kensho Clean Power ETF (CNRG) has a higher volatility of 15.67% compared to First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) at 10.12%. This indicates that CNRG's price experiences larger fluctuations and is considered to be riskier than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNRG	GRID	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.67%	10.12%	+5.55%
Volatility (6M) Calculated over the trailing 6-month period	27.25%	18.23%	+9.02%
Volatility (1Y) Calculated over the trailing 1-year period	38.05%	21.26%	+16.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.47%	21.37%	+13.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.98%	22.80%	+13.18%

CNRG vs. GRID - Expense Ratio Comparison

CNRG has a 0.45% expense ratio, which is lower than GRID's 0.70% expense ratio.

Dividends

CNRG vs. GRID - Dividend Comparison

CNRG's dividend yield for the trailing twelve months is around 1.11%, more than GRID's 0.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%	0.00%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	0.80%	1.01%	1.06%	1.23%	1.26%	0.63%	0.68%	1.26%	1.28%	1.07%	1.07%	1.23%

Frequently Asked Questions

Can I hold both CNRG and GRID in my portfolio?

CNRG and GRID have a correlation of 0.71, 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 GRID?

CNRG has higher volatility (15.67%) compared to GRID (10.12%). In terms of maximum drawdown, CNRG dropped -68.49% vs GRID's -40.56%.

Which ETF is better, CNRG or GRID?

On 5-year performance, GRID leads with 16.63% vs 2.77% for CNRG. On fees, CNRG is cheaper at 0.45% per year. On volatility, GRID has been the lower-risk option at 10.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CNRG or GRID?

Over the 5-year period, GRID has performed better with a 16.63% return vs 2.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CNRG or GRID?

CNRG is cheaper with a 0.45% expense ratio, compared with 0.70% for GRID.

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

CNRG has the higher dividend yield at 1.11%, compared with 0.80% for GRID.

What is the main difference between CNRG and GRID?

CNRG tracks S&P Kensho Clean Power Index, while GRID tracks Nasdaq Clean Edge Smart Grid Infrastructure Index. They also come from different issuers: State Street and First Trust. Their fees differ too: 0.45% for CNRG and 0.70% for GRID.

Which has better risk-adjusted returns?

CNRG currently has the higher Sharpe Ratio (2.53 vs 2.01), 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.