CNRG vs. HJEN

Last updated Jun 4, 2026

CNRG (SPDR S&P Kensho Clean Power ETF) and HJEN (Direxion Hydrogen ETF) are both Alternative Energy Equities funds - CNRG tracks the S&P Kensho Clean Power Index while HJEN tracks the Indxx Hydrogen Economy Index - Benchmark TR Net. Both are passively managed. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.45% expense ratio.

Performance

CNRG vs. HJEN - Performance Comparison

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

Returns By Period

CNRG

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

HJEN

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CNRG vs. HJEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CNRG SPDR S&P Kensho Clean Power ETF	36.68%	50.23%	-14.48%	-11.55%	-7.98%	-14.99%
HJEN Direxion Hydrogen ETF	0.00%	0.00%	-10.90%	-8.69%	-33.27%	-13.86%

Correlation

The correlation between CNRG and HJEN is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Mar 26, 2021	0.62

The correlation between CNRG and HJEN shifts across timeframes, from 0.43 (3 years) to 0.62 (all time), reflecting how their relationship changes across market environments.

CNRG vs. HJEN - Sectors Allocation Comparison

Sectors	CNRG	HJEN
Industrials	41.2%	31.7%
Technology	29.1%	7.6%
Utilities	25.2%	-
Energy	3.0%	8.3%
Consumer Cyclical	1.6%	-
Basic Materials	-	9.2%
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	3.3%
Healthcare	-	-
Real Estate	-	-

Return for Risk

CNRG vs. HJEN — 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

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. HJEN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Kensho Clean Power ETF (CNRG) and Direxion Hydrogen ETF (HJEN). 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	HJEN	Difference
Sharpe ratio: Return per unit of total volatility	3.25	—	—
Sortino ratio: Return per unit of downside risk	3.58	—	—
Omega ratio: Gain probability vs. loss probability	1.46	—	—
Calmar ratio: Return relative to maximum drawdown	6.65	—	—
Martin ratio: Return relative to average drawdown	17.06	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CNRG	HJEN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.25	—	—
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	—	—

Drawdowns

Drawdown Indicators

	CNRG	HJEN	Difference
Max Drawdown Largest peak-to-trough decline	-68.49%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-17.73%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-48.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-59.17%	—	—
Current Drawdown Current decline from peak	-11.12%	—	—
Average Drawdown Average peak-to-trough decline	-31.82%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	6.90%	—	—

Volatility

Volatility by Period

	CNRG	HJEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.13%	—	—
Volatility (6M) Calculated over the trailing 6-month period	25.44%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	36.49%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.99%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.78%	—	—

CNRG vs. HJEN - Expense Ratio Comparison

Both CNRG and HJEN have an expense ratio of 0.45%.

Dividends

CNRG vs. HJEN - Dividend Comparison

CNRG's dividend yield for the trailing twelve months is around 1.01%, while HJEN 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%
HJEN Direxion Hydrogen ETF	0.00%	0.00%	0.91%	1.50%	1.24%	0.76%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CNRG and HJEN in my portfolio?

CNRG and HJEN have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CNRG or HJEN?

Both ETFs have the same 0.45% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNRG or HJEN?

CNRG and HJEN have the same expense ratio: 0.45% per year.

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

CNRG has the higher dividend yield at 1.01%, compared with 0.00% for HJEN.

What is the main difference between CNRG and HJEN?

CNRG tracks S&P Kensho Clean Power Index, while HJEN tracks Indxx Hydrogen Economy Index - Benchmark TR Net. They also come from different issuers: State Street and Direxion.