CNRG vs. KRBN
CNRG (SPDR S&P Kensho Clean Power ETF) and KRBN (KraneShares Global Carbon Strategy ETF) are both exchange-traded funds - CNRG is a Alternative Energy Equities fund tracking the S&P Kensho Clean Power Index, while KRBN is a Commodities fund tracking the S&P Global Carbon Credit Index. Both are passively managed. Over the past 5 years, CNRG returned -0.42%/yr vs 6.63%/yr for KRBN. Their 0.13 correlation means their historical movements had little consistent relationship. CNRG charges 0.45%/yr vs 0.90%/yr for KRBN.
Performance
CNRG vs. KRBN - Performance Comparison
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Returns By Period
In the year-to-date period, CNRG achieves a 2.01% return, which is significantly higher than KRBN's -4.66% return.
CNRG
- 1D
- -0.59%
- 1M
- -13.20%
- 6M
- -6.95%
- YTD
- 2.01%
- 1Y
- 40.07%
- 3Y*
- 4.32%
- 5Y*
- -0.42%
- 10Y*
- —
- ALL TIME*
- 17.18%
KRBN
- 1D
- 0.24%
- 1M
- 1.78%
- 6M
- 2.83%
- YTD
- -4.66%
- 1Y
- 14.32%
- 3Y*
- 0.37%
- 5Y*
- 6.63%
- 10Y*
- —
- ALL TIME*
- 16.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.13M | $1.07M | $1.47M | |
| $1.62M | $1.01M | $687.32K |
CNRG vs. KRBN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CNRG SPDR S&P Kensho Clean Power ETF | 2.01% | 50.23% | -14.48% | -11.55% | -7.98% | -15.68% | 87.69% |
KRBN KraneShares Global Carbon Strategy ETF | -4.66% | 23.11% | -13.56% | 8.01% | -12.75% | 107.69% | 25.03% |
Correlation
The correlation between CNRG and KRBN is 0.24, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.24 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 30, 2020 | 0.13 |
The correlation between CNRG and KRBN shifts across timeframes, from 0.12 (5 years) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CNRG vs. KRBN — Risk / Return Rank
CNRG
KRBN
CNRG vs. KRBN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Kensho Clean Power ETF (CNRG) and KraneShares Global Carbon Strategy ETF (KRBN). 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 | KRBN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.14 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 0.56 | +0.65 |
| Martin ratioReturn relative to average drawdown | 3.76 | 1.39 | +2.37 |
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Drawdowns
CNRG vs. KRBN - Drawdown Comparison
The maximum CNRG drawdown since its inception was -68.49%, which is greater than KRBN's maximum drawdown of -36.42%. Use the drawdown chart below to compare losses from any high point for CNRG and KRBN.
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Drawdown Indicators
| CNRG | KRBN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.49% | -36.42% | -32.07% |
Max Drawdown (1Y)Largest decline over 1 year | -31.56% | -24.98% | -6.58% |
Max Drawdown (3Y)Largest decline over 3 years | -43.07% | -26.05% | -17.02% |
Max Drawdown (5Y)Largest decline over 5 years | -59.17% | -36.42% | -22.75% |
Current DrawdownCurrent decline from peak | -33.66% | -13.09% | -20.57% |
Average DrawdownAverage peak-to-trough decline | -31.66% | -16.07% | -15.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.11% | 10.09% | +0.02% |
Volatility
CNRG vs. KRBN - Volatility Comparison
SPDR S&P Kensho Clean Power ETF (CNRG) has a higher volatility of 13.34% compared to KraneShares Global Carbon Strategy ETF (KRBN) at 6.66%. This indicates that CNRG's price experiences larger fluctuations and is considered to be riskier than KRBN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNRG | KRBN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.34% | 6.66% | +6.68% |
Volatility (6M)Calculated over the trailing 6-month period | 29.61% | 16.46% | +13.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.16% | 19.75% | +20.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.83% | 27.84% | +6.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.13% | 28.43% | +7.70% |
CNRG vs. KRBN - Expense Ratio Comparison
CNRG has a 0.45% expense ratio, which is lower than KRBN's 0.90% expense ratio.
Dividends
CNRG vs. KRBN - Dividend Comparison
CNRG's dividend yield for the trailing twelve months is around 1.34%, less than KRBN's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CNRG SPDR S&P Kensho Clean Power ETF | 1.34% | 1.46% | 1.34% | 1.17% | 1.23% | 1.34% | 0.69% | 1.16% | 0.35% |
KRBN KraneShares Global Carbon Strategy ETF | 1.99% | 1.90% | 7.10% | 7.60% | 22.91% | 0.49% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CNRG and KRBN have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNRG has higher volatility (13.34%) compared to KRBN (6.66%). In terms of maximum drawdown, CNRG dropped -68.49% vs KRBN's -36.42%.
On 5-year performance, KRBN leads with 6.63% vs -0.42% for CNRG. On fees, CNRG is cheaper at 0.45% per year. On volatility, KRBN has been the lower-risk option at 6.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KRBN has performed better with a 6.63% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CNRG is cheaper with a 0.45% expense ratio, compared with 0.90% for KRBN.
KRBN has the higher dividend yield at 1.99%, compared with 1.34% for CNRG.
CNRG is categorized as Alternative Energy Equities, while KRBN is Commodities. CNRG tracks S&P Kensho Clean Power Index, while KRBN tracks S&P Global Carbon Credit Index. They also come from different issuers: State Street and KraneShares. Their fees differ too: 0.45% for CNRG and 0.90% for KRBN.
CNRG currently has the higher Sharpe Ratio (0.95 vs 0.71), 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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