CTEC vs. FRNW

Last updated Jun 26, 2026

CTEC (Global X CleanTech ETF) and FRNW (Fidelity Clean Energy ETF) are both Alternative Energy Equities funds. CTEC is passively managed, while FRNW is actively managed. Over the past 3 years, CTEC returned -2.52%/yr vs 7.30%/yr for FRNW. Their correlation of 0.90 suggests significant overlap in exposure. CTEC charges 0.50%/yr vs 0.39%/yr for FRNW.

Performance

CTEC vs. FRNW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X CleanTech ETF (CTEC) and Fidelity Clean Energy ETF (FRNW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with CTEC having a 19.59% return and FRNW slightly lower at 19.27%.

CTEC

• 1D: -0.94%
• 1M: -16.24%
• YTD: 19.59%
• 6M: 16.23%
• 1Y: 82.20%
• 3Y*: -2.52%
• 5Y*: -8.33%
• 10Y*: —

FRNW

• 1D: -0.25%
• 1M: -12.29%
• YTD: 19.27%
• 6M: 16.68%
• 1Y: 59.09%
• 3Y*: 7.30%
• 5Y*: —
• 10Y*: —

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

CTEC vs. FRNW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
CTEC Global X CleanTech ETF	19.59%	57.85%	-36.35%	-25.60%	-16.82%	-0.34%
FRNW Fidelity Clean Energy ETF	19.27%	53.20%	-21.11%	-19.64%	-11.46%	-2.52%

Correlation

The correlation between CTEC and FRNW is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Oct 7, 2021	0.90

The correlation between CTEC and FRNW has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

CTEC vs. FRNW - Sectors Allocation Comparison

Sectors	CTEC	FRNW
Industrials	60.0%	28.3%
Technology	31.2%	5.7%
Energy	24.8%	20.5%
Consumer Cyclical	3.9%	-
Basic Materials	3.2%	-
Utilities	1.7%	45.2%
Communication Services	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

CTEC vs. FRNW — Risk / Return Rank

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

CTEC

CTEC Risk / Return Rank: 74
CTEC Sharpe Ratio Rank: 80
CTEC Sortino Ratio Rank: 68
CTEC Omega Ratio Rank: 66
CTEC Calmar Ratio Rank: 86
CTEC Martin Ratio Rank: 68

FRNW

FRNW Risk / Return Rank: 77
FRNW Sharpe Ratio Rank: 80
FRNW Sortino Ratio Rank: 73
FRNW Omega Ratio Rank: 67
FRNW Calmar Ratio Rank: 86
FRNW Martin Ratio Rank: 79

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.

CTEC vs. FRNW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X CleanTech ETF (CTEC) and Fidelity Clean Energy ETF (FRNW). 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.

	CTEC	FRNW	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.21	0.00
Sortino ratio: Return per unit of downside risk	2.70	2.85	-0.15
Omega ratio: Gain probability vs. loss probability	1.34	1.35	0.00
Calmar ratio: Return relative to maximum drawdown	4.26	4.18	+0.08
Martin ratio: Return relative to average drawdown	10.85	13.28	-2.44

CTEC vs. FRNW - Sharpe Ratio Comparison

The current CTEC Sharpe Ratio is 2.22, which is comparable to the FRNW Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of CTEC and FRNW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CTEC vs. FRNW - Drawdown Comparison

The maximum CTEC drawdown since its inception was -81.58%, which is greater than FRNW's maximum drawdown of -59.37%. Use the drawdown chart below to compare losses from any high point for CTEC and FRNW.

Drawdown Indicators

	CTEC	FRNW	Difference
Max Drawdown Largest peak-to-trough decline	-81.58%	-59.37%	-22.21%
Max Drawdown (1Y) Largest decline over 1 year	-19.39%	-14.20%	-5.19%
Max Drawdown (3Y) Largest decline over 3 years	-65.77%	-45.14%	-20.63%
Max Drawdown (5Y) Largest decline over 5 years	-76.46%	—	—
Current Drawdown Current decline from peak	-54.64%	-13.87%	-40.77%
Average Drawdown Average peak-to-trough decline	-52.35%	-33.03%	-19.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.60%	4.46%	+3.14%

Volatility

CTEC vs. FRNW - Volatility Comparison

Global X CleanTech ETF (CTEC) has a higher volatility of 15.65% compared to Fidelity Clean Energy ETF (FRNW) at 10.27%. This indicates that CTEC's price experiences larger fluctuations and is considered to be riskier than FRNW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CTEC	FRNW	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.65%	10.27%	+5.38%
Volatility (6M) Calculated over the trailing 6-month period	27.18%	19.77%	+7.41%
Volatility (1Y) Calculated over the trailing 1-year period	37.39%	26.85%	+10.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.94%	28.53%	+8.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.08%	28.53%	+9.55%

CTEC vs. FRNW - Expense Ratio Comparison

CTEC has a 0.50% expense ratio, which is higher than FRNW's 0.39% expense ratio.

Dividends

CTEC vs. FRNW - Dividend Comparison

CTEC's dividend yield for the trailing twelve months is around 0.63%, less than FRNW's 1.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
CTEC Global X CleanTech ETF	0.63%	0.75%	1.56%	0.51%	0.25%	0.39%	0.02%
FRNW Fidelity Clean Energy ETF	1.15%	1.25%	1.43%	1.30%	0.69%	0.04%	0.00%

Frequently Asked Questions

Can I hold both CTEC and FRNW in my portfolio?

CTEC and FRNW have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CTEC or FRNW?

CTEC has higher volatility (15.65%) compared to FRNW (10.27%). In terms of maximum drawdown, CTEC dropped -81.58% vs FRNW's -59.37%.

Which ETF is better, CTEC or FRNW?

On 3-year performance, FRNW leads with 7.30% vs -2.52% for CTEC. On fees, FRNW is cheaper at 0.39% per year. On volatility, FRNW has been the lower-risk option at 10.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CTEC or FRNW?

Over the 3-year period, FRNW has performed better with a 7.30% return vs -2.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CTEC or FRNW?

FRNW is cheaper with a 0.39% expense ratio, compared with 0.50% for CTEC.

Which ETF pays a higher dividend yield, CTEC or FRNW?

FRNW has the higher dividend yield at 1.15%, compared with 0.63% for CTEC.

What is the main difference between CTEC and FRNW?

They also come from different issuers: Global X and Fidelity. Their fees differ too: 0.50% for CTEC and 0.39% for FRNW.

Which has better risk-adjusted returns?

CTEC currently has the higher Sharpe Ratio (2.21 vs 2.21), 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.