CNRG vs. HJEN

Last updated Aug 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. Their 0.60 correlation means they have sometimes moved together and sometimes differently. 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: 3.34%
• 1M: -10.30%
• 6M: -3.90%
• YTD: 5.42%
• 1Y: 44.75%
• 3Y*: 7.43%
• 5Y*: 0.29%
• 10Y*: —
• ALL TIME*: 17.66%

HJEN

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

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CNRG SPDR S&P Kensho Clean Power ETF	$1.15M	$1.05M	$1.48M

CNRG vs. HJEN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CNRG SPDR S&P Kensho Clean Power ETF	5.42%	50.23%	-14.48%	-11.55%	-7.98%	-13.59%
HJEN Direxion Hydrogen ETF	0.00%	0.00%	-10.90%	-8.69%	-33.27%	-11.04%

Correlation

The correlation between CNRG and HJEN is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (3Y) Balances recent behavior with more history.	0.38
Correlation (5Y) Shows whether the relationship held over a longer period.	0.59
Correlation (All Time) Calculated using the full available price history since Mar 25, 2021	0.60

The correlation between CNRG and HJEN shifts across timeframes, from 0.38 (3 years) to 0.60 (all time), reflecting how their relationship changes across market environments.

CNRG vs. HJEN - Sectors Allocation Comparison

Sectors	CNRG	HJEN
Utilities	35.8%	-
Industrials	31.1%	31.7%
Technology	19.0%	7.6%
Energy	12.0%	8.3%
Consumer Cyclical	2.0%	-
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 historical risk-adjusted metric ranks over the past 12 months.

CNRG

CNRG Risk / Return Rank: 42
CNRG Sharpe Ratio Rank: 44
CNRG Sortino Ratio Rank: 43
CNRG Omega Ratio Rank: 41
CNRG Calmar Ratio Rank: 40
CNRG Martin Ratio Rank: 40

HJEN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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	HJEN	Difference
Sharpe ratio: Return per unit of total volatility	1.12	—	—
Sortino ratio: Return per unit of downside risk	1.63	—	—
Omega ratio: Gain probability vs. loss probability	1.20	—	—
Calmar ratio: Return relative to maximum drawdown	1.42	—	—
Martin ratio: Return relative to average drawdown	4.38	—	—

Drawdowns

Drawdown Indicators

	CNRG	HJEN	Difference
Max Drawdown Largest peak-to-trough decline	-68.49%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-31.56%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-43.07%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-59.17%	—	—
Current Drawdown Current decline from peak	-31.45%	—	—
Average Drawdown Average peak-to-trough decline	-31.66%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	10.23%	—	—

Volatility

Volatility by Period

	CNRG	HJEN	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	29.64%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	40.33%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.86%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.14%	—	—

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 1.30%, 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	1.30%	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 0.60, 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 1.30%, 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.