CWEN vs. PYLD

Last updated Jun 4, 2026

CWEN (Clearway Energy, Inc.) is a stock, while PYLD (PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund) is Multisector Bonds fund actively managed by PIMCO. Over the past year, CWEN returned 37.55% vs 7.40% for PYLD. At a 0.31 correlation, their price movements are largely independent.

Performance

CWEN vs. PYLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Clearway Energy, Inc. (CWEN) and PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CWEN achieves a 24.08% return, which is significantly higher than PYLD's 0.95% return.

CWEN

• 1D: -2.30%
• 1M: 5.71%
• YTD: 24.08%
• 6M: 19.76%
• 1Y: 37.55%
• 3Y*: 17.12%
• 5Y*: 14.55%
• 10Y*: 15.90%

PYLD

• 1D: -0.23%
• 1M: 0.53%
• YTD: 0.95%
• 6M: 1.31%
• 1Y: 7.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CWEN vs. PYLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CWEN Clearway Energy, Inc.	24.08%	35.48%	0.87%	-2.46%
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	0.95%	9.57%	7.69%	5.60%

Correlation

The correlation between CWEN and PYLD is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023	0.31

The correlation between CWEN and PYLD shifts across timeframes, from 0.15 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CWEN vs. PYLD — Risk / Return Rank

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

CWEN

CWEN Risk / Return Rank: 76
CWEN Sharpe Ratio Rank: 78
CWEN Sortino Ratio Rank: 73
CWEN Omega Ratio Rank: 72
CWEN Calmar Ratio Rank: 80
CWEN Martin Ratio Rank: 78

PYLD

PYLD Risk / Return Rank: 66
PYLD Sharpe Ratio Rank: 72
PYLD Sortino Ratio Rank: 78
PYLD Omega Ratio Rank: 79
PYLD Calmar Ratio Rank: 45
PYLD Martin Ratio Rank: 58

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.

CWEN vs. PYLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Clearway Energy, Inc. (CWEN) and PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD). 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.

	CWEN	PYLD	Difference
Sharpe ratio: Return per unit of total volatility	1.30	2.42	-1.11
Sortino ratio: Return per unit of downside risk	1.91	3.56	-1.65
Omega ratio: Gain probability vs. loss probability	1.24	1.48	-0.24
Calmar ratio: Return relative to maximum drawdown	2.67	2.29	+0.38
Martin ratio: Return relative to average drawdown	6.08	10.44	-4.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CWEN vs. PYLD - Sharpe Ratio Comparison

The current CWEN Sharpe Ratio is 1.30, which is lower than the PYLD Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of CWEN and PYLD, 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

	CWEN	PYLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.30	2.42	-1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	2.04	-1.81

Drawdowns

CWEN vs. PYLD - Drawdown Comparison

The maximum CWEN drawdown since its inception was -79.41%, which is greater than PYLD's maximum drawdown of -4.52%. Use the drawdown chart below to compare losses from any high point for CWEN and PYLD.

Drawdown Indicators

	CWEN	PYLD	Difference
Max Drawdown Largest peak-to-trough decline	-79.41%	-4.52%	-74.89%
Max Drawdown (1Y) Largest decline over 1 year	-14.15%	-3.25%	-10.90%
Max Drawdown (3Y) Largest decline over 3 years	-37.95%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-52.09%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-52.09%	—	—
Current Drawdown Current decline from peak	-2.30%	-0.44%	-1.86%
Average Drawdown Average peak-to-trough decline	-35.47%	-0.65%	-34.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.20%	0.71%	+5.49%

Volatility

CWEN vs. PYLD - Volatility Comparison

Clearway Energy, Inc. (CWEN) has a higher volatility of 7.94% compared to PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund (PYLD) at 1.24%. This indicates that CWEN's price experiences larger fluctuations and is considered to be riskier than PYLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CWEN	PYLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.94%	1.24%	+6.70%
Volatility (6M) Calculated over the trailing 6-month period	21.80%	2.50%	+19.30%
Volatility (1Y) Calculated over the trailing 1-year period	28.95%	3.08%	+25.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.24%	3.99%	+26.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.31%	3.99%	+27.32%

Dividends

CWEN vs. PYLD - Dividend Comparison

CWEN's dividend yield for the trailing twelve months is around 4.53%, less than PYLD's 6.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CWEN Clearway Energy, Inc.	4.53%	5.32%	6.36%	5.62%	4.48%	3.68%	3.29%	4.01%	7.29%	5.81%	5.98%	6.88%
PYLD PIMCO ETF Trust - PIMCO Multisector Bond Active Exchange-Traded Fund	6.30%	6.21%	6.40%	2.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CWEN and PYLD in my portfolio?

CWEN and PYLD have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CWEN or PYLD?

CWEN has higher volatility (7.94%) compared to PYLD (1.24%). In terms of maximum drawdown, CWEN dropped -79.41% vs PYLD's -4.52%.

Which has better risk-adjusted returns?

PYLD currently has the higher Sharpe Ratio (2.42 vs 1.30), 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.