PWER vs. CNRG

Last updated Jun 24, 2026

PWER (Macquarie Energy Transition ETF) and CNRG (SPDR S&P Kensho Clean Power ETF) are both Alternative Energy Equities funds. PWER is actively managed, while CNRG is passively managed. Over the past year, PWER returned 49.01% vs 95.92% for CNRG. A 0.71 correlation means they provide meaningful diversification when combined. PWER charges 0.80%/yr vs 0.45%/yr for CNRG.

Performance

PWER vs. CNRG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Macquarie Energy Transition ETF (PWER) 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, PWER achieves a 19.28% return, which is significantly lower than CNRG's 23.15% return.

PWER

• 1D: -3.13%
• 1M: -4.18%
• YTD: 19.28%
• 6M: 18.48%
• 1Y: 49.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

PWER vs. CNRG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
PWER Macquarie Energy Transition ETF	19.28%	35.28%	-3.50%	9.35%
CNRG SPDR S&P Kensho Clean Power ETF	23.15%	50.23%	-14.48%	12.95%

Correlation

The correlation between PWER 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 (All Time) Calculated using the full available price history since Nov 29, 2023	0.71

The correlation between PWER and CNRG shifts across timeframes, from 0.61 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

PWER vs. CNRG - Sectors Allocation Comparison

Sectors	PWER	CNRG
Basic Materials	44.2%	-
Energy	36.9%	23.5%
Industrials	11.7%	37.1%
Technology	5.5%	10.6%
Utilities	1.8%	27.1%
Communication Services	-	-
Consumer Cyclical	-	1.6%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

PWER vs. CNRG — Risk / Return Rank

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

PWER

PWER Risk / Return Rank: 79
PWER Sharpe Ratio Rank: 79
PWER Sortino Ratio Rank: 69
PWER Omega Ratio Rank: 72
PWER Calmar Ratio Rank: 89
PWER Martin Ratio Rank: 88

CNRG

CNRG Risk / Return Rank: 76
CNRG Sharpe Ratio Rank: 83
CNRG Sortino Ratio Rank: 69
CNRG Omega Ratio Rank: 67
CNRG Calmar Ratio Rank: 90
CNRG Martin Ratio Rank: 73

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.

PWER vs. CNRG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Macquarie Energy Transition ETF (PWER) 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.

	PWER	CNRG	Difference
Sharpe ratio: Return per unit of total volatility	2.31	2.53	-0.23
Sortino ratio: Return per unit of downside risk	2.90	2.94	-0.04
Omega ratio: Gain probability vs. loss probability	1.39	1.38	+0.01
Calmar ratio: Return relative to maximum drawdown	4.88	5.36	-0.48
Martin ratio: Return relative to average drawdown	17.97	13.03	+4.94

PWER vs. CNRG - Sharpe Ratio Comparison

The current PWER Sharpe Ratio is 2.31, which is comparable to the CNRG Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of PWER 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.

Drawdowns

PWER vs. CNRG - Drawdown Comparison

The maximum PWER drawdown since its inception was -29.68%, smaller than the maximum CNRG drawdown of -68.49%. Use the drawdown chart below to compare losses from any high point for PWER and CNRG.

Drawdown Indicators

	PWER	CNRG	Difference
Max Drawdown Largest peak-to-trough decline	-29.68%	-68.49%	+38.81%
Max Drawdown (1Y) Largest decline over 1 year	-10.10%	-18.01%	+7.91%
Max Drawdown (3Y) Largest decline over 3 years	—	-48.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-59.17%	—
Current Drawdown Current decline from peak	-10.10%	-19.92%	+9.82%
Average Drawdown Average peak-to-trough decline	-6.23%	-31.72%	+25.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	7.39%	-4.65%

Volatility

PWER vs. CNRG - Volatility Comparison

The current volatility for Macquarie Energy Transition ETF (PWER) is 9.67%, while SPDR S&P Kensho Clean Power ETF (CNRG) has a volatility of 15.67%. This indicates that PWER 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

	PWER	CNRG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.67%	15.67%	-6.00%
Volatility (6M) Calculated over the trailing 6-month period	17.39%	27.25%	-9.86%
Volatility (1Y) Calculated over the trailing 1-year period	21.34%	38.05%	-16.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.71%	34.47%	-10.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.71%	35.98%	-12.27%

PWER vs. CNRG - Expense Ratio Comparison

PWER has a 0.80% expense ratio, which is higher than CNRG's 0.45% expense ratio.

Dividends

PWER vs. CNRG - Dividend Comparison

PWER's dividend yield for the trailing twelve months is around 1.30%, more than CNRG's 1.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%
PWER Macquarie Energy Transition ETF	1.30%	1.37%	1.05%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PWER and CNRG in my portfolio?

PWER 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, PWER or CNRG?

CNRG has higher volatility (15.67%) compared to PWER (9.67%). In terms of maximum drawdown, PWER dropped -29.68% vs CNRG's -68.49%.

Which ETF is better, PWER or CNRG?

On 1-year performance, CNRG leads with 95.92% vs 49.01% for PWER. On fees, CNRG is cheaper at 0.45% per year. On volatility, PWER has been the lower-risk option at 9.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PWER or CNRG?

Over the 1-year period, CNRG has performed better with a 95.92% return vs 49.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PWER or CNRG?

CNRG is cheaper with a 0.45% expense ratio, compared with 0.80% for PWER.

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

PWER has the higher dividend yield at 1.30%, compared with 1.11% for CNRG.

What is the main difference between PWER and CNRG?

They also come from different issuers: Macquarie and State Street. Their fees differ too: 0.80% for PWER and 0.45% for CNRG.

Which has better risk-adjusted returns?

CNRG currently has the higher Sharpe Ratio (2.53 vs 2.31), 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.