CNRG vs PBD

CNRGBState Street SPDR S&P Kensho Clean Power ETF

PBDDInvesco Global Clean Energy ETF

In short

CNRG A focused read on clean power: about 40 global stocks tracked to an S&P Kensho index, at a fee below the clean-energy midpoint. Small fund, sharp mandate, one of the stronger builds in the theme.

PBD The 2007 original in global clean energy: about 110 names spanning cleaner generation, conservation and efficiency worldwide, reshuffled every quarter. Broader than the cap-weighted giants, and priced at 0.75% for that reach.

Stated mandate

CNRG The fund seeks to provide investment results that generally correspond to the total return performance of the S&P Kensho Clean Power Index before fees and expenses.

PBD The Fund seeks to track, before fees and expenses, the WilderHill New Energy Global Innovation Index. That index targets companies worldwide involved in cleaner energy, conservation, efficiency, renewable energy, and related technologies.

Why people hold it

• CNRG Charges 0.45% a year, under the 0.59% median for clean-energy funds and below pricier peers like FAN (0.61%) and ACES (0.55%).
• About 40 holdings, so each name carries real weight. This is a concentrated take on clean power, not a broad index with a green label stapled on.
• Rules-based and global: it tracks the S&P Kensho Clean Power Index rather than leaving the theme to a manager's judgment.ssga.com
• Live since 2018, giving it a longer record through the theme's boom and bust than most clean-energy launches.

• PBD Launched in 2007, a year ahead of ICLN, the category's biggest name. It has traded through a full clean-energy boom and bust with the same index behind it.ishares.com
• About 110 holdings across cleaner energy, conservation and efficiency, held worldwide via ADRs and GDRs where needed. No single stock carries the fund.invesco.com
• The index is rebalanced and reconstituted quarterly, so the basket refreshes with the theme rather than drifting toward whatever already won.invesco.com

Worth knowing

• CNRG Thinly traded compared with the theme's headline funds, which can mean wider bid-ask spreads at the moment you transact.
• A concentrated slice of one policy-sensitive sector. Swings run harder than a broad equity fund's, in both directions.
• Distributions come quarterly, but yield is incidental here. The fund is built around the clean-power theme, not payout.

• PBD At 0.75% a year it runs above the clean-energy median (0.59%) and near double ICLN and FRNW at 0.39%. The broad global basket is not the cheap way in.
• A smaller, moderately traded fund rather than one of the category's heavyweights, so bid-ask spreads can run wider than the largest names in the group.
• One narrow global theme, tilted away from mega-caps and sensitive to policy and rates. Swings are larger than a broad world index fund's.

Full CNRG profile⁠

Full PBD profile⁠