QCLN vs. CNRG

Last updated Jul 14, 2026

QCLN (First Trust NASDAQ Clean Edge Green Energy Index Fund) and CNRG (SPDR S&P Kensho Clean Power ETF) are both Alternative Energy Equities funds - QCLN tracks the Nasdaq Clean Edge Green Energy Index while CNRG tracks the S&P Kensho Clean Power Index. Both are passively managed. Over the past 5 years, QCLN returned -2.97%/yr vs 1.14%/yr for CNRG. Their correlation of 0.90 suggests significant overlap in exposure. QCLN charges 0.59%/yr vs 0.45%/yr for CNRG.

Performance

QCLN vs. CNRG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) 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, QCLN achieves a 20.15% return, which is significantly higher than CNRG's 10.03% return.

QCLN

• 1D: -3.82%
• 1M: -12.88%
• 6M: 9.07%
• YTD: 20.15%
• 1Y: 54.85%
• 3Y*: -0.11%
• 5Y*: -2.97%
• 10Y*: 14.37%

CNRG

• 1D: -3.12%
• 1M: -10.31%
• 6M: 2.17%
• YTD: 10.03%
• 1Y: 54.10%
• 3Y*: 6.23%
• 5Y*: 1.14%
• 10Y*: —

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

QCLN vs. CNRG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	20.15%	31.81%	-18.86%	-10.02%	-30.37%	-3.21%	184.00%	42.65%	-3.22%
CNRG SPDR S&P Kensho Clean Power ETF	10.03%	50.23%	-14.48%	-11.55%	-7.98%	-15.68%	138.35%	63.26%	-2.05%

Correlation

The correlation between QCLN and CNRG is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Oct 23, 2018	0.90

The correlation between QCLN and CNRG has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

QCLN vs. CNRG - Sectors Allocation Comparison

Sectors	QCLN	CNRG
Technology	47.6%	2.7%
Industrials	24.8%	35.6%
Consumer Cyclical	10.2%	2.3%
Utilities	8.1%	30.6%
Basic Materials	7.8%	-
Financial Services	1.4%	-
Energy	0.1%	28.6%
Communication Services	-	-
Consumer Defensive	-	-
Healthcare	-	-
Real Estate	-	-

Return for Risk

QCLN vs. CNRG — Risk / Return Rank

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

QCLN

QCLN Risk / Return Rank: 54
QCLN Sharpe Ratio Rank: 51
QCLN Sortino Ratio Rank: 47
QCLN Omega Ratio Rank: 46
QCLN Calmar Ratio Rank: 64
QCLN Martin Ratio Rank: 62

CNRG

CNRG Risk / Return Rank: 51
CNRG Sharpe Ratio Rank: 51
CNRG Sortino Ratio Rank: 48
CNRG Omega Ratio Rank: 46
CNRG Calmar Ratio Rank: 63
CNRG Martin Ratio Rank: 49

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.

QCLN vs. CNRG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) 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.

	QCLN	CNRG	Difference
Sharpe ratio: Return per unit of total volatility	1.41	1.41	0.00
Sortino ratio: Return per unit of downside risk	1.90	1.92	-0.01
Omega ratio: Gain probability vs. loss probability	1.24	1.24	0.00
Calmar ratio: Return relative to maximum drawdown	2.53	2.50	+0.04
Martin ratio: Return relative to average drawdown	8.78	6.58	+2.20

QCLN vs. CNRG - Sharpe Ratio Comparison

The current QCLN Sharpe Ratio is 1.41, which is comparable to the CNRG Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of QCLN 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

QCLN vs. CNRG - Drawdown Comparison

The maximum QCLN drawdown since its inception was -76.18%, which is greater than CNRG's maximum drawdown of -68.49%. Use the drawdown chart below to compare losses from any high point for QCLN and CNRG.

Drawdown Indicators

	QCLN	CNRG	Difference
Max Drawdown Largest peak-to-trough decline	-76.18%	-68.49%	-7.69%
Max Drawdown (1Y) Largest decline over 1 year	-21.76%	-21.77%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-56.08%	-48.77%	-7.31%
Max Drawdown (5Y) Largest decline over 5 years	-69.49%	-59.17%	-10.32%
Max Drawdown (10Y) Largest decline over 10 years	-71.73%	—	—
Current Drawdown Current decline from peak	-37.93%	-28.45%	-9.48%
Average Drawdown Average peak-to-trough decline	-43.37%	-31.66%	-11.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.27%	8.25%	-1.98%

Volatility

QCLN vs. CNRG - Volatility Comparison

First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) has a higher volatility of 17.41% compared to SPDR S&P Kensho Clean Power ETF (CNRG) at 12.86%. This indicates that QCLN's price experiences larger fluctuations and is considered to be riskier than CNRG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QCLN	CNRG	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.41%	12.86%	+4.55%
Volatility (6M) Calculated over the trailing 6-month period	32.06%	28.07%	+3.99%
Volatility (1Y) Calculated over the trailing 1-year period	39.27%	38.75%	+0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.85%	34.64%	+4.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.39%	36.03%	-0.64%

QCLN vs. CNRG - Expense Ratio Comparison

QCLN has a 0.59% expense ratio, which is higher than CNRG's 0.45% expense ratio.

Dividends

QCLN vs. CNRG - Dividend Comparison

QCLN's dividend yield for the trailing twelve months is around 0.16%, less than CNRG's 1.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNRG SPDR S&P Kensho Clean Power ETF	1.24%	1.46%	1.34%	1.17%	1.23%	1.34%	0.69%	1.16%	0.35%	0.00%	0.00%	0.00%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	0.16%	0.25%	0.87%	0.76%	0.33%	0.01%	0.30%	0.85%	1.03%	0.45%	1.24%	0.72%

Frequently Asked Questions

Can I hold both QCLN and CNRG in my portfolio?

With a correlation of 0.91, QCLN and CNRG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QCLN or CNRG?

QCLN has higher volatility (17.41%) compared to CNRG (12.86%). In terms of maximum drawdown, QCLN dropped -76.18% vs CNRG's -68.49%.

Which ETF is better, QCLN or CNRG?

On 5-year performance, CNRG leads with 1.14% vs -2.97% for QCLN. On fees, CNRG is cheaper at 0.45% per year. On volatility, CNRG has been the lower-risk option at 12.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QCLN or CNRG?

Over the 5-year period, CNRG has performed better with a 1.14% return vs -2.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QCLN or CNRG?

CNRG is cheaper with a 0.45% expense ratio, compared with 0.59% for QCLN.

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

CNRG has the higher dividend yield at 1.24%, compared with 0.16% for QCLN.

What is the main difference between QCLN and CNRG?

QCLN tracks Nasdaq Clean Edge Green 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: 0.59% for QCLN and 0.45% for CNRG.

Which has better risk-adjusted returns?

QCLN currently has the higher Sharpe Ratio (1.41 vs 1.41), 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.