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FAN vs. CNRG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FAN vs. CNRG

Last updated Jun 24, 2026

FAN (First Trust Global Wind Energy ETF) and CNRG (SPDR S&P Kensho Clean Power ETF) are both Alternative Energy Equities funds - FAN tracks the ISE Clean Edge Global Wind Energy Index while CNRG tracks the S&P Kensho Clean Power Index. Both are passively managed. Over the past 5 years, FAN returned 4.21%/yr vs 2.77%/yr for CNRG. A 0.66 correlation means they provide meaningful diversification when combined. FAN charges 0.62%/yr vs 0.45%/yr for CNRG.

Performance

FAN vs. CNRG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Global Wind Energy ETF (FAN) and SPDR S&P Kensho Clean Power ETF (CNRG). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, FAN achieves a 20.47% return, which is significantly lower than CNRG's 23.15% return.

FAN

1D
-2.65%
1M
-5.81%
YTD
20.47%
6M
20.15%
1Y
38.86%
3Y*
14.67%
5Y*
4.21%
10Y*
9.88%

CNRG

1D
-4.63%
1M
-5.18%
YTD
23.15%
6M
19.33%
1Y
95.92%
3Y*
12.18%
5Y*
2.77%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

FAN vs. CNRG - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
FAN
First Trust Global Wind Energy ETF		20.47%40.38%-8.96%-3.20%-13.12%-11.63%61.16%31.22%-0.39%
CNRG
SPDR S&P Kensho Clean Power ETF		23.15%50.23%-14.48%-11.55%-7.98%-15.68%138.35%63.26%-2.05%

Correlation

The correlation between FAN and CNRG is 0.64, 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

0.64

Correlation (3Y)
Calculated over the trailing 3-year period

0.69

Correlation (5Y)
Calculated over the trailing 5-year period

0.68

Correlation (All Time)
Calculated using the full available price history since Oct 23, 2018

0.66

The correlation between FAN and CNRG has been stable across timeframes, ranging from 0.64 to 0.69 - a consistent structural relationship.

FAN vs. CNRG - Sectors Allocation Comparison

Sectors
FAN
CNRG

Utilities

55.7%
27.1%

Industrials

41.3%
37.1%

Consumer Cyclical

1.7%
1.6%

Energy

1.1%
23.5%

Basic Materials

0.3%

-

Communication Services

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Technology

-

10.6%

Utilities

FAN
55.7%
CNRG
27.1%

Industrials

FAN
41.3%
CNRG
37.1%

Consumer Cyclical

FAN
1.7%
CNRG
1.6%

Energy

FAN
1.1%
CNRG
23.5%

Basic Materials

FAN
0.3%
CNRG

-

Communication Services

FAN

-

CNRG

-

Consumer Defensive

FAN

-

CNRG

-

Financial Services

FAN

-

CNRG

-

Healthcare

FAN

-

CNRG

-

Real Estate

FAN

-

CNRG

-

Technology

FAN

-

CNRG
10.6%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Global Wind Energy ETF

SPDR S&P Kensho Clean Power ETF

Often compared with FAN:
FAN vs. TANFAN vs. ICLNFAN vs. QCLNFAN vs. PBDFAN vs. RAYSFAN vs. GRIDFAN vs. CTEC
Often compared with CNRG:
CNRG vs. ICLNCNRG vs. TANCNRG vs. QCLNCNRG vs. BKLCCNRG vs. KRBNCNRG vs. CURECNRG vs. LCTD

Return for Risk

FAN vs. CNRG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FAN
FAN Risk / Return Rank: 6363
Overall Rank
FAN Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
FAN Sortino Ratio Rank: 5757
Sortino Ratio Rank
FAN Omega Ratio Rank: 5555
Omega Ratio Rank
FAN Calmar Ratio Rank: 7373
Calmar Ratio Rank
FAN Martin Ratio Rank: 6767
Martin Ratio Rank
CNRG
CNRG Risk / Return Rank: 7676
Overall Rank
CNRG Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
CNRG Sortino Ratio Rank: 6969
Sortino Ratio Rank
CNRG Omega Ratio Rank: 6767
Omega Ratio Rank
CNRG Calmar Ratio Rank: 9090
Calmar Ratio Rank
CNRG Martin Ratio Rank: 7373
Martin Ratio Rank
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.

FAN vs. CNRG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Global Wind Energy ETF (FAN) 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.

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.

FANCNRGDifference
Sharpe ratioReturn per unit of total volatility
1.91
2.53

-0.62

Sortino ratioReturn per unit of downside risk
2.57
2.94

-0.37

Omega ratioGain probability vs. loss probability

1.32

1.38

-0.05

Calmar ratioReturn relative to maximum drawdown

3.51

5.36

-1.85

Martin ratioReturn relative to average drawdown

11.64

13.03

-1.38

FAN vs. CNRG - Sharpe Ratio Comparison

The current FAN Sharpe Ratio is 1.91, which is comparable to the CNRG Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of FAN 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.

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Drawdowns

FAN vs. CNRG - Drawdown Comparison

The maximum FAN drawdown since its inception was -79.94%, which is greater than CNRG's maximum drawdown of -68.49%. Use the drawdown chart below to compare losses from any high point for FAN and CNRG.

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Drawdown Indicators

FANCNRGDifference

Max Drawdown

Largest peak-to-trough decline

-79.94%

-68.49%

-11.45%

Max Drawdown (1Y)

Largest decline over 1 year

-11.13%

-18.01%

+6.88%

Max Drawdown (3Y)

Largest decline over 3 years

-24.46%

-48.77%

+24.31%

Max Drawdown (5Y)

Largest decline over 5 years

-38.45%

-59.17%

+20.72%

Max Drawdown (10Y)

Largest decline over 10 years

-46.29%

—

—

Current Drawdown

Current decline from peak

-9.44%

-19.92%

+10.48%

Average Drawdown

Average peak-to-trough decline

-45.08%

-31.72%

-13.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.35%

7.39%

-4.04%

Volatility

FAN vs. CNRG - Volatility Comparison

The current volatility for First Trust Global Wind Energy ETF (FAN) is 6.87%, while SPDR S&P Kensho Clean Power ETF (CNRG) has a volatility of 15.67%. This indicates that FAN 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.

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Volatility by Period

FANCNRGDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.87%

15.67%

-8.80%

Volatility (6M)

Calculated over the trailing 6-month period

15.93%

27.25%

-11.32%

Volatility (1Y)

Calculated over the trailing 1-year period

20.41%

38.05%

-17.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.42%

34.47%

-13.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.96%

35.98%

-15.02%

FAN vs. CNRG - Expense Ratio Comparison

FAN has a 0.62% expense ratio, which is higher than CNRG's 0.45% expense ratio.

Dividends

FAN vs. CNRG - Dividend Comparison

FAN's dividend yield for the trailing twelve months is around 1.03%, less than CNRG's 1.11% yield.

PositionTTM20252024202320222021202020192018201720162015
CNRG
SPDR S&P Kensho Clean Power ETF		1.11%1.46%1.34%1.17%1.23%1.34%0.69%1.16%0.35%0.00%0.00%0.00%
FAN
First Trust Global Wind Energy ETF		1.03%1.35%1.52%1.71%1.50%1.79%0.84%2.42%2.67%2.59%6.04%2.35%

Frequently Asked Questions

FAN and CNRG have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CNRG has higher volatility (15.67%) compared to FAN (6.87%). In terms of maximum drawdown, FAN dropped -79.94% vs CNRG's -68.49%.

On 5-year performance, FAN leads with 4.21% vs 2.77% for CNRG. On fees, CNRG is cheaper at 0.45% per year. On volatility, FAN has been the lower-risk option at 6.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FAN has performed better with a 4.21% return vs 2.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

CNRG is cheaper with a 0.45% expense ratio, compared with 0.62% for FAN.

CNRG has the higher dividend yield at 1.11%, compared with 1.03% for FAN.

FAN tracks ISE Clean Edge Global Wind Energy Index, while CNRG tracks S&P Kensho Clean Power Index. They also come from different issuers: First Trust and State Street. Their fees differ too: 0.62% for FAN and 0.45% for CNRG.

CNRG currently has the higher Sharpe Ratio (2.53 vs 1.91), 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.

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