At a glance
CNRG charges 0.45% a year, below the 0.57% average of the 8 funds most like it (the 2nd cheapest of 9). It has $249.7M in assets, the 4th largest of that group; it paid 1.63% of its price in distributions over the past 12 months, quarterly. Over the past year it returned −18.9% with distributions reinvested (S&P 500: +11.5%), 7th of those 9 funds; over three years it returned +11.7% a year. At its worst it fell 44.2% in the 2020 crash (S&P 500: 33.7%) and 25.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months and 3 months after the lows. Its ten largest positions make up 33.1% of the fund, out of 40 in all.
The short version
SPDR S&P Kensho Clean Power ETF (CNRG) is a State Street index fund. It holds about 40 US-listed solar, wind, hydrogen, geothermal, hydroelectric and energy-storage companies, picked by an automated scan of their SEC filings. Its 0.45% annual fee is below the 0.57% average of similar clean energy funds. It is also very volatile: it fell 68.5% from its February 2021 peak to its April 2025 low.
Price history
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CNRG -18.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| CNRG official prospectus, to Dec 31, 2025 | — | +50.27% | — | -2.46% | — | +18.05% |
| CNRG price data to Oct 27, 2026 | -12.2% | -18.9% | +11.7% | -4.4% | — | +14.4% |
- Over the year to Oct 27, 2026, CNRG returned -18.9%, 7th of 9 among similar funds.
- Its 5-year annualized return was -4.4%.
- In the 2020 COVID crash it fell 44.2% and regained its old high 3.9 months after the low.
- Its worst full calendar year was 2021 (-15.7%); its best was 2020 (+138.4%).
- The deepest fall in its price history was 68.5% (Feb 9, 2021 to Apr 8, 2025), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | -12.2% | — |
| 2025 | +50.2% | +50.27% |
| 2024 | -14.5% | -14.58% |
| 2023 | -11.5% | -11.42% |
| 2022 | -8.0% | -8.05% |
| 2021 | -15.7% | -15.57% |
| 2020 | +138.4% | +139.12% |
| 2019 | +63.3% | +62.02% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 43.8% over that stretch · deepest drop along the way 44.2%, back to its old high 3.9 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 12.8% over that stretch · deepest drop along the way 25.1%, back to its old high 2.7 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.5800 | |
| 2025 | $1.3000 | +58.5% |
| 2024 | $0.8200 | -1.2% |
| 2023 | $0.8300 | -18.6% |
| 2022 | $1.0200 | -15.0% |
| 2021 | $1.2000 | +57.9% |
| 2020 | $0.7600 | +40.7% |
| 2019 | $0.5400 |
What's inside
As of Jun 30, 2026, the fund held 40 securities; the ten largest made up 33.06% of assets. It also reported 3.72% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| FuelCell Energy Inc | 5.63% | |
| GE Vernova Inc | 3.44% | |
| Bloom Energy Corp | 3.28% | |
| T1 Energy Inc | 3.11% | |
| Generac Holdings Inc | 3.11% | |
| Corning Inc | 3.05% | |
| Arcosa Inc | 3.00% | |
| Sunrun Inc | 2.85% | |
| TransAlta Corp | 2.83% | |
| Energy Vault Holdings Inc | 2.76% | |
| Axia Energia SA | 2.75% | |
| Array Technologies Inc | 2.75% | |
| Ameresco Inc | 2.71% | |
| Shoals Technologies Group Inc | 2.71% | |
| SolarEdge Technologies Inc | 2.71% |
By country
United States 75.49%Canada 7.74%Brazil 5.34%Cayman Islands 4.78%Israel 2.51%By asset type
Stocks 99.53%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $9.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +14.51%, +17.64%, -6.85%.
How it works
CNRG is a State Street index fund. It aims to match the total return, before fees, of the S&P Kensho Clean Power Index. That index merges the S&P Kensho Cleantech Index, covering clean power equipment, software and energy storage, with the S&P Kensho Clean Energy Index, covering companies that generate and transmit clean power.
An automated scan of SEC filings for clean power terms, not a stock picker, finds candidates. Each stock must list on the NYSE, Nasdaq or Cboe and cost at least $1 a share. The company needs at least $100 million of publicly traded shares, and the stock must average $1 million or more a day in trading over three months. An index committee checks the results. Holdings can include depositary receipts, which let foreign companies, some in emerging markets, trade on U.S. exchanges.
The adviser, SSGA Funds Management, may hold just a representative sample of index stocks. It must keep at least 80% of net assets in index securities and may use futures (contracts to buy an asset later at a set price) to manage cash. As of June 30, 2026, the fund held stakes in 40 companies and no derivatives. The largest were FuelCell Energy (about 5.6%), GE Vernova and Bloom Energy; the top 10 made up about 33%.
What it really costs
- CNRG charges 0.45% a year, versus an average of 0.57% for the similar funds below (2nd of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $46 in the first year and $567 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| CNRG | $46 | $144 | $252 | $567 |
In a retirement portfolio
CNRG makes a concentrated bet on one theme, and its swings have been large enough that it is better kept as a small slice next to broader core holdings.
CNRG gives targeted exposure to clean power companies, but the ride has been rough. It launched in October 2018, so it has no record from the 2008 crisis. In the 2020 COVID crash it fell 44.2% in about a month, then recovered by July 14, 2020. In 2022 it dropped 25.1% between April and May and recovered by August 2. The bigger problem came next: a 68.5% slide from February 2021 to April 2025 that it still had not made up as of October 27, 2026. Its worst calendar year was 2021, at -15.6%, but it lost money every year from 2021 through 2024. Anyone who has to sell or draw income during a stretch like that locks in losses.
The yield was 1.63% as of October 27, 2026, paid quarterly. The fee is 0.45%. Past results don't predict future ones. A plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a small, dedicated slice of clean power stocks for 0.45% a year, below the 0.57% average of similar funds.
- Patient holders who can sit through deep losses; CNRG fell 68.5% from February 2021 to April 2025.
- Investors who prefer a theme fund with spread-out holdings: about 40 stocks, none above 5.6% as of June 30, 2026.
Look elsewhere if
- Anyone who may need to sell within a few years; three-year volatility was 35.7%, and the fund lost money every year from 2021 to 2024.
- Income seekers: the yield was 1.63% as of October 27, 2026, paid quarterly, which is modest for a source of retirement cash.
- Investors uneasy about policy risk; the prospectus warns clean power companies may depend heavily on government subsidies and contracts.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| CNRG this fund | — | 0.45% | $249.7M | -18.9% | +11.7% |
| CTEX ProShares S&P Kensho Cleantech ETF | 74% | 0.58% | $4.8M | -15.8% | +14.4% |
| FRNW Fidelity Clean Energy ETF | 32% | 0.4% | $153.8M | -3.2% | +14.9% |
| PBW Invesco WilderHill Clean Energy ETF | 29% | 0.65% | $420.0M | -20.5% | +3.3% |
| ACES ALPS Clean Energy ETF | 28% | 0.55% | $109.2M | -25.3% | -2.8% |
| TAN Invesco Solar ETF | 27% | 0.71% | $1.05B | -14.1% | +1.1% |
| QCLN First Trust NASDAQ Clean Edge Green Energy … | 23% | 0.59% | $836.7M | -2.0% | +9.8% |
| CTEC Global X CleanTech ETF | 22% | 0.5% | $25.2M | -10.0% | +6.1% |
Questions investors ask
Is CNRG good for retirement?
CNRG fits a retirement portfolio only as a small, higher-risk slice. It holds about 40 clean power stocks, so it moves with one theme, not the whole market. It fell 68.5% from February 2021 to April 2025 and had not recovered as of October 27, 2026. Someone who may need to sell in a bad year could lock in deep losses. Its 0.45% fee is lower than most similar funds.
What stocks are in CNRG?
As of June 30, 2026, CNRG's largest holdings were FuelCell Energy (5.6%), GE Vernova (3.4%), Bloom Energy (3.3%), T1 Energy (3.1%) and Generac (3.1%). Corning, Arcosa, Sunrun, TransAlta and Energy Vault rounded out the top ten. Together, the top ten made up 33% of the fund. About 75% was in US companies. Canada, Brazil, the Cayman Islands and Israel made up most of the rest.
What's the difference between CNRG and CTEX?
CNRG costs less and is much larger. About 74% of their holdings overlap, and both use S&P Kensho clean technology screens. CNRG charges 0.45% a year; ProShares S&P Kensho Cleantech ETF (CTEX) charges 0.58%. CNRG had $249.7 million in net assets as of June 30, 2026. CTEX had $4.8 million as of August 31, 2026. As of October 27, 2026, CTEX had done a bit better: -15.8% over one year versus -18.9% for CNRG, and 14.4% a year over three years versus 11.7%.
Does CNRG pay dividends?
Yes, CNRG pays dividends every quarter, but the income is modest. Its trailing yield, meaning the last 12 months of payouts divided by the share price, was 1.63% as of October 27, 2026. That equals about $1.27 per share. Clean power companies often put their cash back into growth, so investors looking mainly for income may want to compare CNRG with other options.
How has CNRG performed?
CNRG's returns have swung widely from year to year. Its prospectus shows a 139.12% gain in 2020, losses in each year from 2021 through 2024, then a 50.27% gain in 2025. Through December 31, 2025, it returned -2.46% a year over five years and 18.05% a year since its 2018 launch. Based on price, it was down 12.2% for 2026 through October 27 and down 18.9% over the year to that date.