CRBN vs. CNRG

Last updated Jun 3, 2026

CRBN (iShares MSCI ACWI Low Carbon Target ETF) and CNRG (SPDR S&P Kensho Clean Power ETF) are both exchange-traded funds - CRBN is a Large Cap Growth Equities fund tracking the MSCI ACWI Low Carbon Target Index, while CNRG is a Alternative Energy Equities fund tracking the S&P Kensho Clean Power Index. Both are passively managed. Over the past 5 years, CRBN returned 11.46%/yr vs 6.13%/yr for CNRG. A 0.65 correlation means they provide meaningful diversification when combined. CRBN charges 0.20%/yr vs 0.45%/yr for CNRG.

Performance

CRBN vs. CNRG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI ACWI Low Carbon Target ETF (CRBN) and SPDR S&P Kensho Clean Power ETF (CNRG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CRBN achieves a 11.84% return, which is significantly lower than CNRG's 40.64% return.

CRBN

• 1D: 0.54%
• 1M: 5.38%
• YTD: 11.84%
• 6M: 13.43%
• 1Y: 29.02%
• 3Y*: 21.52%
• 5Y*: 11.46%
• 10Y*: 12.88%

CNRG

• 1D: 4.69%
• 1M: 21.16%
• YTD: 40.64%
• 6M: 35.74%
• 1Y: 132.01%
• 3Y*: 16.37%
• 5Y*: 6.13%
• 10Y*: —

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

CRBN vs. CNRG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
CRBN iShares MSCI ACWI Low Carbon Target ETF	11.84%	21.85%	19.29%	22.31%	-19.12%	18.82%	16.83%	28.65%	-6.93%
CNRG SPDR S&P Kensho Clean Power ETF	40.64%	50.23%	-14.48%	-11.55%	-7.98%	-15.68%	138.35%	63.26%	-2.87%

Correlation

The correlation between CRBN and CNRG is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since Oct 24, 2018	0.65

The correlation between CRBN and CNRG has been stable across timeframes, ranging from 0.61 to 0.66 - a consistent structural relationship.

CRBN vs. CNRG - Sectors Allocation Comparison

Sectors	CRBN	CNRG
Technology	32.3%	29.1%
Financial Services	18.3%	-
Communication Services	9.6%	-
Industrials	9.4%	41.2%
Healthcare	8.1%	-
Consumer Cyclical	7.7%	1.6%
Consumer Defensive	4.4%	-
Real Estate	2.9%	-
Basic Materials	2.5%	-
Energy	2.2%	3.0%
Utilities	2.2%	25.2%

Return for Risk

CRBN vs. CNRG — Risk / Return Rank

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

CRBN

CRBN Risk / Return Rank: 65
CRBN Sharpe Ratio Rank: 67
CRBN Sortino Ratio Rank: 66
CRBN Omega Ratio Rank: 65
CRBN Calmar Ratio Rank: 59
CRBN Martin Ratio Rank: 69

CNRG

CNRG Risk / Return Rank: 88
CNRG Sharpe Ratio Rank: 94
CNRG Sortino Ratio Rank: 85
CNRG Omega Ratio Rank: 82
CNRG Calmar Ratio Rank: 94
CNRG Martin Ratio Rank: 87

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.

CRBN vs. CNRG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI ACWI Low Carbon Target ETF (CRBN) and SPDR S&P Kensho Clean Power ETF (CNRG). 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.

	CRBN	CNRG	Difference
Sharpe ratio Return per unit of total volatility	2.24	3.65	-1.41
Sortino ratio Return per unit of downside risk	3.09	3.89	-0.80
Omega ratio Gain probability vs. loss probability	1.40	1.50	-0.10
Calmar ratio Return relative to maximum drawdown	2.96	7.32	-4.35
Martin ratio Return relative to average drawdown	13.13	18.80	-5.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CRBN vs. CNRG - Sharpe Ratio Comparison

The current CRBN Sharpe Ratio is 2.24, which is lower than the CNRG Sharpe Ratio of 3.65. The chart below compares the historical Sharpe Ratios of CRBN and CNRG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CRBN	CNRG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	3.65	-1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.18	+0.53
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.63	+0.07

Drawdowns

CRBN vs. CNRG - Drawdown Comparison

The maximum CRBN drawdown since its inception was -33.13%, smaller than the maximum CNRG drawdown of -68.49%. Use the drawdown chart below to compare losses from any high point for CRBN and CNRG.

Drawdown Indicators

	CRBN	CNRG	Difference
Max Drawdown Largest peak-to-trough decline	-33.13%	-68.49%	+35.36%
Max Drawdown (1Y) Largest decline over 1 year	-10.08%	-17.73%	+7.65%
Max Drawdown (3Y) Largest decline over 3 years	-16.60%	-48.77%	+32.17%
Max Drawdown (5Y) Largest decline over 5 years	-27.04%	-59.17%	+32.13%
Max Drawdown (10Y) Largest decline over 10 years	-33.13%	—	—
Current Drawdown Current decline from peak	0.00%	-8.54%	+8.54%
Average Drawdown Average peak-to-trough decline	-5.21%	-31.83%	+26.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	6.90%	-4.62%

Volatility

CRBN vs. CNRG - Volatility Comparison

The current volatility for iShares MSCI ACWI Low Carbon Target ETF (CRBN) is 3.61%, while SPDR S&P Kensho Clean Power ETF (CNRG) has a volatility of 11.64%. This indicates that CRBN experiences smaller price fluctuations and is considered to be less risky than CNRG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CRBN	CNRG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	11.64%	-8.03%
Volatility (6M) Calculated over the trailing 6-month period	10.50%	25.50%	-15.00%
Volatility (1Y) Calculated over the trailing 1-year period	13.03%	36.38%	-23.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.09%	33.98%	-17.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.90%	35.78%	-18.88%

CRBN vs. CNRG - Expense Ratio Comparison

CRBN has a 0.20% expense ratio, which is lower than CNRG's 0.45% expense ratio.

Dividends

CRBN vs. CNRG - Dividend Comparison

CRBN's dividend yield for the trailing twelve months is around 1.97%, more than CNRG's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNRG SPDR S&P Kensho Clean Power ETF	0.98%	1.46%	1.34%	1.17%	1.23%	1.34%	0.69%	1.16%	0.35%	0.00%	0.00%	0.00%
CRBN iShares MSCI ACWI Low Carbon Target ETF	1.97%	2.21%	1.94%	2.01%	1.95%	1.57%	1.41%	2.27%	2.51%	2.05%	2.27%	2.01%

Frequently Asked Questions

Can I hold both CRBN and CNRG in my portfolio?

CRBN and CNRG have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CRBN or CNRG?

CNRG has higher volatility (11.64%) compared to CRBN (3.61%). In terms of maximum drawdown, CRBN dropped -33.13% vs CNRG's -68.49%.

Which ETF is better, CRBN or CNRG?

On 5-year performance, CRBN leads with 11.46% vs 6.13% for CNRG. On fees, CRBN is cheaper at 0.20% per year. On volatility, CRBN has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CRBN or CNRG?

Over the 5-year period, CRBN has performed better with a 11.46% return vs 6.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CRBN or CNRG?

CRBN is cheaper with a 0.20% expense ratio, compared with 0.45% for CNRG.

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

CRBN has the higher dividend yield at 1.97%, compared with 0.98% for CNRG.

What is the main difference between CRBN and CNRG?

CRBN is categorized as Large Cap Growth Equities, while CNRG is Alternative Energy Equities. CRBN tracks MSCI ACWI Low Carbon Target Index, while CNRG tracks S&P Kensho Clean Power Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for CRBN and 0.45% for CNRG.

Which has better risk-adjusted returns?

CNRG currently has the higher Sharpe Ratio (3.65 vs 2.24), 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.