CNRG vs. RAYS

Last updated Jun 5, 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: 0.22%
• 1M: 14.21%
• YTD: 36.98%
• 6M: 26.99%
• 1Y: 119.71%
• 3Y*: 15.60%
• 5Y*: 5.26%
• 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	22.94%
RAYS Global X Solar ETF	0.00%

CNRG vs. RAYS - Sectors Allocation Comparison

Sectors	CNRG	RAYS
Industrials	41.2%	21.4%
Technology	29.1%	66.9%
Utilities	25.2%	6.8%
Energy	3.0%	-
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: 86
CNRG Sharpe Ratio Rank: 92
CNRG Sortino Ratio Rank: 82
CNRG Omega Ratio Rank: 79
CNRG Calmar Ratio Rank: 93
CNRG Martin Ratio Rank: 85

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.

	CNRG	RAYS	Difference
Sharpe ratio: Return per unit of total volatility	3.32	—	—
Sortino ratio: Return per unit of downside risk	3.63	—	—
Omega ratio: Gain probability vs. loss probability	1.47	—	—
Calmar ratio: Return relative to maximum drawdown	6.79	—	—
Martin ratio: Return relative to average drawdown	17.40	—	—
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	RAYS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.32	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	—	—

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	-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	-10.92%	0.00%	-10.92%
Average Drawdown Average peak-to-trough decline	-31.81%	0.00%	-31.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.90%	—	—

Volatility

Volatility by Period

	CNRG	RAYS	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.64%	—	—
Volatility (6M) Calculated over the trailing 6-month period	25.44%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	36.33%	0.00%	+36.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.99%	0.00%	+33.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.77%	0.00%	+35.77%

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 1.01%, 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	1.01%	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 1.01%, 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.