CNRG vs. RAYS

Last updated Jun 26, 2026

CNRG (SPDR S&P Kensho Clean Power ETF) and RAYS (Global X Solar ETF) are both Alternative Energy Equities funds - CNRG tracks the S&P Kensho Clean Power Index while RAYS tracks the Solactive Solar Index. Both are passively managed. CNRG charges 0.45%/yr vs 0.50%/yr for RAYS.

Performance

CNRG vs. RAYS - Performance Comparison

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

Returns By Period

CNRG

• 1D: -0.09%
• 1M: -9.76%
• YTD: 21.85%
• 6M: 17.48%
• 1Y: 91.16%
• 3Y*: 11.56%
• 5Y*: 2.37%
• 10Y*: —

RAYS

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CNRG vs. RAYS - Yearly Performance Comparison

	2026 (YTD)
CNRG SPDR S&P Kensho Clean Power ETF	14.61%
RAYS Global X Solar ETF	0.00%

CNRG vs. RAYS - Sectors Allocation Comparison

Sectors	CNRG	RAYS
Industrials	37.1%	21.4%
Utilities	27.1%	6.8%
Energy	23.5%	-
Technology	10.6%	66.9%
Consumer Cyclical	1.6%	4.0%
Basic Materials	-	0.9%
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

CNRG vs. RAYS — Risk / Return Rank

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

CNRG

CNRG Risk / Return Rank: 79
CNRG Sharpe Ratio Rank: 86
CNRG Sortino Ratio Rank: 73
CNRG Omega Ratio Rank: 71
CNRG Calmar Ratio Rank: 91
CNRG Martin Ratio Rank: 75

RAYS

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

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. RAYS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Kensho Clean Power ETF (CNRG) and Global X Solar ETF (RAYS). 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	RAYS	Difference
Sharpe ratio: Return per unit of total volatility	2.41	—	—
Sortino ratio: Return per unit of downside risk	2.84	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	5.09	—	—
Martin ratio: Return relative to average drawdown	12.22	—	—

Drawdowns

CNRG vs. RAYS - Drawdown Comparison

The maximum CNRG drawdown since its inception was -68.49%, which is greater than RAYS's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for CNRG and RAYS.

Drawdown Indicators

	CNRG	RAYS	Difference
Max Drawdown Largest peak-to-trough decline	-68.49%	0.00%	-68.49%
Max Drawdown (1Y) Largest decline over 1 year	-18.01%	—	—
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	-20.76%	0.00%	-20.76%
Average Drawdown Average peak-to-trough decline	-31.71%	0.00%	-31.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.48%	—	—

Volatility

Volatility by Period

	CNRG	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.99%	—	—
Volatility (6M) Calculated over the trailing 6-month period	27.12%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	38.03%	0.00%	+38.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.47%	0.00%	+34.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.97%	0.00%	+35.97%

CNRG vs. RAYS - Expense Ratio Comparison

CNRG has a 0.45% expense ratio, which is lower than RAYS's 0.50% expense ratio.

Dividends

CNRG vs. RAYS - Dividend Comparison

CNRG's dividend yield for the trailing twelve months is around 1.12%, while RAYS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CNRG SPDR S&P Kensho Clean Power ETF	1.12%	1.46%	1.34%	1.17%	1.23%	1.34%	0.69%	1.16%	0.35%
RAYS Global X Solar ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, CNRG or RAYS?

On fees, CNRG is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNRG or RAYS?

CNRG is cheaper with a 0.45% expense ratio, compared with 0.50% for RAYS.

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

CNRG has the higher dividend yield at 1.12%, compared with 0.00% for RAYS.

What is the main difference between CNRG and RAYS?

CNRG tracks S&P Kensho Clean Power Index, while RAYS tracks Solactive Solar Index. They also come from different issuers: State Street and Global X. Their fees differ too: 0.45% for CNRG and 0.50% for RAYS.