CNRG vs. TAN
Compare and contrast key facts about SPDR S&P Kensho Clean Power ETF (CNRG) and Invesco Solar ETF (TAN).
CNRG and TAN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CNRG is a passively managed fund by State Street that tracks the performance of the S&P Kensho Clean Power Index. It was launched on Oct 22, 2018. TAN is a passively managed fund by Invesco that tracks the performance of the MAC Global Solar Energy Index. It was launched on Apr 15, 2008. Both CNRG and TAN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CNRG or TAN.
Performance
CNRG vs. TAN - Performance Comparison
Returns By Period
In the year-to-date period, CNRG achieves a -15.17% return, which is significantly higher than TAN's -35.69% return.
CNRG
-15.17%
-1.81%
-4.02%
-4.93%
10.29%
N/A
TAN
-35.69%
-9.11%
-19.48%
-24.49%
4.37%
0.55%
Key characteristics
| CNRG | TAN | |
|---|---|---|
| Sharpe Ratio | -0.18 | -0.65 |
| Sortino Ratio | -0.04 | -0.79 |
| Omega Ratio | 1.00 | 0.91 |
| Calmar Ratio | -0.09 | -0.31 |
| Martin Ratio | -0.43 | -1.24 |
| Ulcer Index | 13.24% | 21.21% |
| Daily Std Dev | 31.51% | 40.52% |
| Max Drawdown | -59.60% | -95.29% |
| Current Drawdown | -57.07% | -84.32% |
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CNRG vs. TAN - Expense Ratio Comparison
CNRG has a 0.45% expense ratio, which is lower than TAN's 0.69% expense ratio.
Correlation
The correlation between CNRG and TAN is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
CNRG vs. TAN - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Kensho Clean Power ETF (CNRG) and Invesco Solar ETF (TAN). 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.
Dividends
CNRG vs. TAN - Dividend Comparison
CNRG's dividend yield for the trailing twelve months is around 1.75%, more than TAN's 0.14% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNRG SPDR S&P Kensho Clean Power ETF | 1.75% | 1.17% | 1.23% | 1.34% | 0.69% | 1.16% | 0.35% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TAN Invesco Solar ETF | 0.14% | 0.09% | 0.00% | 0.00% | 0.09% | 0.30% | 0.70% | 1.77% | 5.04% | 1.60% | 1.88% | 1.28% |
Drawdowns
CNRG vs. TAN - Drawdown Comparison
The maximum CNRG drawdown since its inception was -59.60%, smaller than the maximum TAN drawdown of -95.29%. Use the drawdown chart below to compare losses from any high point for CNRG and TAN. For additional features, visit the drawdowns tool.
Volatility
CNRG vs. TAN - Volatility Comparison
The current volatility for SPDR S&P Kensho Clean Power ETF (CNRG) is 10.11%, while Invesco Solar ETF (TAN) has a volatility of 16.04%. This indicates that CNRG experiences smaller price fluctuations and is considered to be less risky than TAN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.