XSD vs. CNRG

Last updated Jun 4, 2026

XSD (SPDR S&P Semiconductor ETF) and CNRG (SPDR S&P Kensho Clean Power ETF) are both exchange-traded funds - XSD is a Semiconductors fund tracking the S&P Semiconductor Select Industry, while CNRG is a Alternative Energy Equities fund tracking the S&P Kensho Clean Power Index. Both are passively managed. Over the past 5 years, XSD returned 29.69%/yr vs 5.21%/yr for CNRG. A 0.66 correlation means they provide meaningful diversification when combined. XSD charges 0.35%/yr vs 0.45%/yr for CNRG.

Performance

XSD vs. CNRG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Semiconductor ETF (XSD) 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, XSD achieves a 102.14% return, which is significantly higher than CNRG's 36.68% return.

XSD

• 1D: 1.51%
• 1M: 30.91%
• YTD: 102.14%
• 6M: 92.84%
• 1Y: 180.25%
• 3Y*: 46.41%
• 5Y*: 29.69%
• 10Y*: 31.10%

CNRG

• 1D: -2.81%
• 1M: 18.72%
• YTD: 36.68%
• 6M: 32.67%
• 1Y: 117.30%
• 3Y*: 15.27%
• 5Y*: 5.21%
• 10Y*: —

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

XSD vs. CNRG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
XSD SPDR S&P Semiconductor ETF	102.14%	29.85%	10.75%	34.87%	-30.92%	42.54%	61.95%	64.66%	-4.55%
CNRG SPDR S&P Kensho Clean Power ETF	36.68%	50.23%	-14.48%	-11.55%	-7.98%	-15.68%	138.35%	63.26%	-2.87%

Correlation

The correlation between XSD 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	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Oct 24, 2018	0.66

The correlation between XSD and CNRG has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.

XSD vs. CNRG - Sectors Allocation Comparison

Sectors	XSD	CNRG
Technology	97.8%	29.1%
Energy	2.2%	3.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	1.6%
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	41.2%
Real Estate	-	-
Utilities	-	25.2%

Return for Risk

XSD vs. CNRG — Risk / Return Rank

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

XSD

XSD Risk / Return Rank: 95
XSD Sharpe Ratio Rank: 97
XSD Sortino Ratio Rank: 94
XSD Omega Ratio Rank: 93
XSD Calmar Ratio Rank: 96
XSD Martin Ratio Rank: 96

CNRG

CNRG Risk / Return Rank: 84
CNRG Sharpe Ratio Rank: 91
CNRG Sortino Ratio Rank: 79
CNRG Omega Ratio Rank: 76
CNRG Calmar Ratio Rank: 93
CNRG Martin Ratio Rank: 83

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.

XSD vs. CNRG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Semiconductor ETF (XSD) 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.

	XSD	CNRG	Difference
Sharpe ratio: Return per unit of total volatility	5.00	3.25	+1.76
Sortino ratio: Return per unit of downside risk	5.03	3.58	+1.44
Omega ratio: Gain probability vs. loss probability	1.65	1.46	+0.19
Calmar ratio: Return relative to maximum drawdown	9.75	6.65	+3.10
Martin ratio: Return relative to average drawdown	33.91	17.06	+16.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSD vs. CNRG - Sharpe Ratio Comparison

The current XSD Sharpe Ratio is 5.00, which is higher than the CNRG Sharpe Ratio of 3.25. The chart below compares the historical Sharpe Ratios of XSD 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.

Sharpe Ratios by Period

	XSD	CNRG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.00	3.25	+1.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.15	+0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.62	-0.18

Drawdowns

XSD vs. CNRG - Drawdown Comparison

The maximum XSD drawdown since its inception was -64.56%, smaller than the maximum CNRG drawdown of -68.49%. Use the drawdown chart below to compare losses from any high point for XSD and CNRG.

Drawdown Indicators

	XSD	CNRG	Difference
Max Drawdown Largest peak-to-trough decline	-64.56%	-68.49%	+3.93%
Max Drawdown (1Y) Largest decline over 1 year	-18.61%	-17.73%	-0.88%
Max Drawdown (3Y) Largest decline over 3 years	-41.25%	-48.77%	+7.52%
Max Drawdown (5Y) Largest decline over 5 years	-42.27%	-59.17%	+16.90%
Max Drawdown (10Y) Largest decline over 10 years	-42.27%	—	—
Current Drawdown Current decline from peak	0.00%	-11.12%	+11.12%
Average Drawdown Average peak-to-trough decline	-13.74%	-31.82%	+18.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.34%	6.90%	-1.56%

Volatility

XSD vs. CNRG - Volatility Comparison

SPDR S&P Semiconductor ETF (XSD) has a higher volatility of 14.94% compared to SPDR S&P Kensho Clean Power ETF (CNRG) at 12.13%. This indicates that XSD'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

	XSD	CNRG	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.94%	12.13%	+2.81%
Volatility (6M) Calculated over the trailing 6-month period	27.89%	25.44%	+2.45%
Volatility (1Y) Calculated over the trailing 1-year period	36.39%	36.49%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.25%	33.99%	+4.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.96%	35.78%	-0.82%

XSD vs. CNRG - Expense Ratio Comparison

XSD has a 0.35% expense ratio, which is lower than CNRG's 0.45% expense ratio.

Dividends

XSD vs. CNRG - Dividend Comparison

XSD's dividend yield for the trailing twelve months is around 0.12%, less than CNRG's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CNRG SPDR S&P Kensho Clean Power ETF	1.01%	1.46%	1.34%	1.17%	1.23%	1.34%	0.69%	1.16%	0.35%	0.00%	0.00%	0.00%
XSD SPDR S&P Semiconductor ETF	0.12%	0.26%	0.20%	0.31%	0.44%	0.10%	0.26%	0.51%	1.16%	0.59%	0.64%	0.58%

Frequently Asked Questions

Can I hold both XSD and CNRG in my portfolio?

XSD 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.

Which is riskier, XSD or CNRG?

XSD has higher volatility (14.94%) compared to CNRG (12.13%). In terms of maximum drawdown, XSD dropped -64.56% vs CNRG's -68.49%.

Which ETF is better, XSD or CNRG?

On 5-year performance, XSD leads with 29.69% vs 5.21% for CNRG. On fees, XSD is cheaper at 0.35% per year. On volatility, CNRG has been the lower-risk option at 12.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XSD or CNRG?

Over the 5-year period, XSD has performed better with a 29.69% return vs 5.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XSD or CNRG?

XSD is cheaper with a 0.35% expense ratio, compared with 0.45% for CNRG.

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

CNRG has the higher dividend yield at 1.01%, compared with 0.12% for XSD.

What is the main difference between XSD and CNRG?

XSD is categorized as Semiconductors, while CNRG is Alternative Energy Equities. XSD tracks S&P Semiconductor Select Industry, while CNRG tracks S&P Kensho Clean Power Index. Their fees differ too: 0.35% for XSD and 0.45% for CNRG.

Which has better risk-adjusted returns?

XSD currently has the higher Sharpe Ratio (5.00 vs 3.25), 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.