CNRG vs. MARB
CNRG (SPDR S&P Kensho Clean Power ETF) and MARB (First Trust Merger Arbitrage ETF) are both exchange-traded funds - CNRG is a Alternative Energy Equities fund tracking the S&P Kensho Clean Power Index, while MARB is a Long-Short fund actively managed by First Trust. CNRG is passively managed, while MARB is actively managed. Over the past 5 years, CNRG returned 2.77%/yr vs 2.96%/yr for MARB. At a 0.14 correlation, their price movements are largely independent. CNRG charges 0.45%/yr vs 2.30%/yr for MARB.
Performance
CNRG vs. MARB - 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 MARB's 1.77% return.
CNRG
- 1D
- -4.63%
- 1M
- -5.18%
- YTD
- 23.15%
- 6M
- 19.33%
- 1Y
- 95.92%
- 3Y*
- 12.18%
- 5Y*
- 2.77%
- 10Y*
- —
MARB
- 1D
- 0.94%
- 1M
- 0.57%
- YTD
- 1.77%
- 6M
- 1.89%
- 1Y
- 6.71%
- 3Y*
- 4.36%
- 5Y*
- 2.96%
- 10Y*
- —
CNRG vs. MARB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
CNRG SPDR S&P Kensho Clean Power ETF | 23.15% | 50.23% | -14.48% | -11.55% | -7.98% | -15.68% | 125.55% |
MARB First Trust Merger Arbitrage ETF | 1.77% | 7.02% | 0.73% | 2.16% | 3.89% | 0.26% | -2.55% |
Correlation
The correlation between CNRG and MARB is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2020 | 0.14 |
The correlation between CNRG and MARB shifts across timeframes, from -0.16 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CNRG vs. MARB — Risk / Return Rank
CNRG
MARB
CNRG vs. MARB - 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 Merger Arbitrage ETF (MARB). 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 | MARB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.28 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.35 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 5.36 | 2.78 | +2.58 |
| Martin ratioReturn relative to average drawdown | 13.03 | 22.96 | -9.93 |
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Drawdowns
CNRG vs. MARB - Drawdown Comparison
The maximum CNRG drawdown since its inception was -68.49%, which is greater than MARB's maximum drawdown of -11.99%. Use the drawdown chart below to compare losses from any high point for CNRG and MARB.
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Drawdown Indicators
| CNRG | MARB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.49% | -11.99% | -56.50% |
Max Drawdown (1Y)Largest decline over 1 year | -18.01% | -2.43% | -15.58% |
Max Drawdown (3Y)Largest decline over 3 years | -48.77% | -3.67% | -45.10% |
Max Drawdown (5Y)Largest decline over 5 years | -59.17% | -3.67% | -55.50% |
Current DrawdownCurrent decline from peak | -19.92% | 0.00% | -19.92% |
Average DrawdownAverage peak-to-trough decline | -31.72% | -1.39% | -30.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.39% | 0.29% | +7.10% |
Volatility
CNRG vs. MARB - Volatility Comparison
SPDR S&P Kensho Clean Power ETF (CNRG) has a higher volatility of 15.67% compared to First Trust Merger Arbitrage ETF (MARB) at 1.06%. This indicates that CNRG's price experiences larger fluctuations and is considered to be riskier than MARB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CNRG | MARB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.67% | 1.06% | +14.61% |
Volatility (6M)Calculated over the trailing 6-month period | 27.25% | 2.35% | +24.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.05% | 5.35% | +32.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.47% | 4.28% | +30.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.98% | 5.59% | +30.39% |
CNRG vs. MARB - Expense Ratio Comparison
CNRG has a 0.45% expense ratio, which is lower than MARB's 2.30% expense ratio.
Dividends
CNRG vs. MARB - Dividend Comparison
CNRG's dividend yield for the trailing twelve months is around 1.11%, less than MARB's 2.96% yield.
| 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% |
MARB First Trust Merger Arbitrage ETF | 2.96% | 3.01% | 2.11% | 2.20% | 0.99% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CNRG and MARB have a correlation of -0.16, 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 MARB (1.06%). In terms of maximum drawdown, CNRG dropped -68.49% vs MARB's -11.99%.
On 5-year performance, MARB leads with 2.96% vs 2.77% for CNRG. On fees, CNRG is cheaper at 0.45% per year. On volatility, MARB has been the lower-risk option at 1.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MARB has performed better with a 2.96% return vs 2.77%. 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 2.30% for MARB.
MARB has the higher dividend yield at 2.96%, compared with 1.11% for CNRG.
CNRG is categorized as Alternative Energy Equities, while MARB is Long-Short. They also come from different issuers: State Street and First Trust. Their fees differ too: 0.45% for CNRG and 2.30% for MARB.
CNRG currently has the higher Sharpe Ratio (2.53 vs 1.26), 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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