CNRG

SPDR S&P Kensho Clean Power ETF

CNRG tracks an index utilizing artificial intelligence and a quantitative weighting methodology to capture companies whose products and services are driving innovation behind the clean energy sector, which includes the areas of solar, wind, geothermal, and hydroelectric power.


US

EQUITY

Rules-Based

MANAGEMENT STYLE

45 bp

EXPENSES

$192.2 M

ASSETS UNDER MGMT

FACTOR SCORECARD

SIZE
VALUE
YIELD
MOMENTUM
VOLATILITY
QUALITY
Fund Basics
Fund sponsorState Street Global Advisors
CategoryUS
Asset classEquity
Websitelink...
Inception dateOct 22, 2018
Assets (mns)$192
Expense ratio45 bp
CurrencyUSD
Sector Breakdown
Fund Structure
RegulationOpen-Ended Fund
DistributionsQuarterly
Taxation1099
Stock selectionMarket Cap
WeightingTiered
Holdings TransparencyFull
Derivatives-basedNo
Options availableYes
Currency hedgedNo
Fund of fundsNo
Top 10 Holdings Complete list  + 
CONSTELLATION ENERGY CORPORATION 4.8 %
FIRST SOLAR INC 4.4 %
NEXTRACKER, INC. CLASS A 3.4 %
APPLIED MATERIALS INC 3.2 %
ADT, INC. 3.1 %
NEXTERA ENERGY GROUP 3.0 %
CUMMINS INC 3.0 %
GENERAC HOLDINGS INC 2.8 %
ARCOSA INC 2.7 %
CORNING INC 2.7 %
Constituent Breakdown
Number of holdings48
Herfindahl-Hirschman Index 249
Wgt avg mkt cap (mns)$33,650
Large cap (>$10bn)36.7%
Mid cap ($2-10bn)33.8%
Small cap (<$2bn)26.5%
Developed mkts.91.0%
Emerging mkts.9.0%
Country Exposure
UNITED STATES 79.6 %
CANADA 9.0 %
CHINA 3.7 %
BRITAIN 2.7 %
BRAZIL 1.4 %
INDIA 0.9 %
CHILE 0.6 %
SINGAPORE 0.6 %
Historical Performance


Standardized Performance (as of 05/31/2024)
 YTD1 YR2 YR3 YR5 YR10 YRIncep.
Total Returns -5.1% -14.0% -8.2% -11.2% 15.9% -- 16.7%
Volatility 30.1% 29.7% 32.3% 32.6% 37.1% -- --
Market Correlations
versus...BetaR-squared
S&P 5001.2850%
MSCI EAFE1.2041%
MSCI Emg Mkts1.0935%
Liquidity Measures
Avg. volume (000)19
Turnover0.6%
Avg. Bid/Ask (% of price)0.13%
ADV of underlying (mns)$18,619
Technical Indicators
Recent close$63.13
30d moving avg.$65.00
Annualized volatility32.3%
Relative strength (RSI)57
Short interest (ETF)0.1%
Short interest (underlying)6.6%
Distributions
Assets Under Management (mns)

Money Flows (mns)

Short Interest (as % of shares outstanding)

Long Money Flows (mns)

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Risk and Returns: CNRG vs. Comps (1 YR)

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Results & Estimates
  2019 2020 2021 2022 2023 2024E 2025E  
Sales per share -- -- -- -- -- -- --
  change (%) -- -- -- -- -- -- --
Earnings per share -- -- -- -- -- -- --
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Dividends per share -- -- -- -- -- -- --
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Book value per share -- -- -- -- -- -- --
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Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates

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Valuation Metrics
  2023 2024E Fwd Est 2025E
Price-to-sales --x --x --x --x
Price-to-earnings --x --x --x --x
Price-to-cash flow --x --x --x --x
Price-to-growth --x --x --x --x
Price-to-book value --x --x --x --x
Yield --% --% --x --%
1.0 48.5 1.7 2.0% --
Based on closing prices from 6/24/2024
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SHOWING:
Price-to-Earnings
CNRG



Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.

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ETF Research Center Fund Rating

Our measure of an ETF's overall investment merit

ALTAR Score™

CNRG

-7.3%

Cat. Avg

5.7%

Fund Category: US

Avg. Return on Equity--%
Divided by: Fwd. P/BV--x
Less: Expenses-- bp
Equals: ALTAR Score™-7.3%
Recommendation

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.

Category Overview
There are 892 funds in the US category, with an average ALTAR Score™ of 5.7% and a standard deviation of 2.8%. CNRG's ALTAR Score™ is approximately 4.7 standard deviations below the category average. This places CNRG in the 1st percentile among funds in the category.
Consensus Recommendation

Sell-side recommendations on the ETF's individual constituents

Composite
CNRG
Peer Average
SELL
U/W
HOLD
O/W
BUY



Recent Trends


Breakdown

 

Market Activity
Latest price
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Total Cost of Ownership (TCO) Comparison
Expense (bp)
(A)
Avg. Bid/Ask (bp)
(B)
TCO (bp)
(A)+(B)
CNRG 45.0 13.3 58.3
Peer Avg. -- -- --
  For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .