CNRG vs TAN: Grades, Fees and Holdings Compared

State Street SPDR S&P Kensho Clean Power ETF

CNRGBNYSE Arca

Invesco Solar ETF

TANDNYSE Arca

Overlap

23.6%by weight

Expense ratio

CNRG −0.25pt a year

CNRG0.45%TAN0.70%

Avg volume · 30D

TAN 109.1×the volume

CNRG9.06KTAN988K

5Y return · a year

CNRG +10.7pt

CNRG−5.7%TAN−16.4%

CNRG vs TAN Performance

Oct 29, 2021 – Oct 30, 2026

−25.4%CNRG−59.2%TAN

Expense ratio: CNRG 0.45%, better; TAN 0.70%
Fund size: CNRG $163M; TAN $872M
1Y total return: CNRG −23.2%; TAN −18.2%, better
Yield (12M): CNRG 1.66%, better; TAN 0.00%
Holdings: CNRG 40; TAN 42
Avg volume (30D): CNRG 9.06K sh; TAN 988K sh, better
NAV per share: CNRG $78.65; TAN $40.21
52W range

ETF.net Grade

Pillar letters and Scores for CNRG, TAN, with each pillar’s weight
Pillar	CNRG	TAN
Cost30% weight	A83Higher	F13
Mission25% weight	Not scored	Not scored
Risk15% weight	D34Higher	D28
Tradability15% weight	B57	A85Higher
Holdings10% weight	A79Higher	F24
Durability5% weight	B67	A84Higher

Rank among Clean Energy funds

How we build Categories ›

Same Category. CNRG and TAN are both graded against the same 16 Clean Energy funds, so their Grades compare head to head.

Clean Energy⁠

Category · 16 funds

See all 16 ›

CNRG ranks 3rd and TAN 14th of 16 funds in the Clean Energy Category.

Rank 1AICLNiShares Global Clean Energy ETFScore 81
Rank 2AFRNWFidelity Clean Energy ETFScore 77
Rank 3BCNRGState Street SPDR S&P Kensho Clean Power ETFScore 66
Rank 4BIBATiShares Energy Storage & Materials ETFScore 65
Rank 13DPBDInvesco Global Clean Energy ETFScore 38
Rank 14DTANInvesco Solar ETFScore 36
Rank 15DRNRGGlobal X Renewable Energy Producers ETFScore 30

Our read on each fund

ETF.net Research

CNRGBState Street SPDR S&P Kensho Clean Power ETF

TANDInvesco Solar 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.

TAN The purest way to buy the sun. Since 2008 this fund has tracked one index of roughly 40 solar companies, panel makers to installers, rather than blending solar into a mixed clean-energy basket.

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.

TAN The fund seeks to provide exposure to the MAC Global Solar Energy Index.

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.

TAN One theme, taken literally: about 40 solar names via the MAC Global Solar Energy Index, with no wind or hydro riding along.invesco.com
Trading since April 2008, it has run through solar's full boom-and-bust cycles and sits in the upper half of its clean energy peer group.
A multi-billion-dollar fund that trades actively, so building or exiting a position rarely means wrestling with a thin order book.

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.

TAN The 0.70% fee sits above the clean energy median. Broader rivals ICLN and FRNW charge 0.39% for wider coverage of the theme.
Roughly 40 stocks in a single industry: moves here land harder than in a diversified fund, in both directions.
Not an income holding. The fund has recently gone without paying distributions.

Full CNRG profile⁠

Full TAN profile⁠

CNRG vs TAN Holdings

How CNRG and TAN differ

Overlap by weight

23.6%

Shared holdings make up 45.5% of TAN and 28.6% of CNRG.

Level by level

Holdings12 in both23.6%
Sector6 Sectors42.1%
Countryby domicile60.8%
Asset classEquity100%

Sector

Sector weights in CNRG and TAN, widest gap first
Sector	More in CNRGMore in TAN	CNRG	TAN
Energy	TAN +52.6 points	2.5%	55.1%
Industrials	CNRG +31.3 points	35.2%	3.9%
Technology	CNRG +23.9 points	27.1%	3.2%
Financials	TAN +5.4 points	0.0%	5.4%
Consumer Discretionary	CNRG +2.6 points	2.6%	0.0%
Utilities	CNRG +0.2 points	32.6%	32.4%

Country, concentration and asset class

Country by domicile

Country weights in CNRG and TAN, widest gap first
Country	More in CNRGMore in TAN	CNRG	TAN
United States	CNRG +28.3 points	79.7%	51.4%
Israel	TAN +15.5 points	3.0%	18.5%
China	TAN +6.2 points	5.0%	11.2%
Canada	CNRG +5.7 points	5.7%	0.0%
Taiwan	TAN +5.5 points	0.0%	5.5%
Spain	TAN +5.1 points	0.0%	5.1%
Brazil	CNRG +3.6 points	3.6%	0.0%
Germany	TAN +2.2 points	0.0%	2.2%
Other countries (7)	TAN +3.2 points	3.0%	6.2%

Outside the US: TAN 21% developed, 79% emerging.

Concentration

Weight in the 10 largest Holdings

CNRG38.0%
TAN61.8%

Securities held

CNRG38
TAN36

Asset class

CNRG: Equity
TAN: Equity

Holdings

Only in CNRG26
In both12
Only in TAN24

Only in CNRG

26 securities, 71.4% of CNRG by weight

Constellation Energy4.33%
Transalta Corp4.23%
Ge Vernova Inc4.05%
Aes Corp4.03%
Nextera Energy Inc3.82%
Bloom Energy Corp A3.76%
Cia Energetica De Spon Adr3.60%
Avista Corp3.50%
Generac Holdings Inc3.37%
Tesla Inc3.32%
Ameresco Inc Class A3.23%
Tenaris SA Adr3.13%
Enlight Renewable Energy Ltd3.04%
Energy Vault Holdings Inc2.99%
Fuelcell Energy Inc2.98%
Ormat Technologies Inc2.67%
Valmont Industries2.65%
Corning Inc2.41%
American Superconductor Corp2.39%
Plug Power Inc1.97%
Ballard Power Systems Inc1.45%
Eos Energy Enterprises Inc1.29%
Enel Chile SA Adr1.03%
Hyster Yale Inc0.98%
Fluence Energy Inc0.88%
Tigo Energy Inc0.27%

Only in TAN

24 securities, 54.4% of TAN by weight

Enlight Renewable Energy Ltd8.53%
HA Sustainable Infrastructure Capital Inc5.33%
Doral Group Renewable Energy Resources Ltd5.05%
Clearway Energy Inc4.50%
GCL Technology Holdings Ltd4.05%
Solaria Energia y Medio Ambiente SA3.31%
Xinyi Solar Holdings Ltd2.77%
OY Nofar Energy Ltd2.72%
Energix-Renewable Energies Ltd2.17%
United Renewable Energy Co Ltd/Taiwan2.15%
SMA Solar Technology AG2.15%
Grenergy Renovables SA1.78%
Scatec ASA1.68%
TSEC Corp1.32%
West Holdings Corp1.09%
Gigastorage Corp1.08%
Flat Glass Group Co Ltd0.93%
HD Hyundai Energy Solutions Co Ltd0.89%
Motech Industries Inc0.88%
Xinyi Energy Holdings Ltd0.72%
Bcpg Pcl0.50%
CW Enerji Muhendislik Ticaret VE Sanayi AS0.34%
Tess Holdings Co Ltd0.29%
Invesco Government & Agency Portfolio0.15%

Weight gaps

All 12 Holdings in both funds, largest gap first.

Holding weights in CNRG and TAN, widest gap first
Holding	More in CNRGMore in TAN	CNRG	TAN
Nextpower IncNXT	TAN +8.14 points	2.83%	10.97%
First Solar IncFSLR	TAN +6.83 points	2.81%	9.64%
Enphase Energy IncENPH	TAN +3.94 points	2.03%	5.97%
Solaredge Technologies IncSEDG	TAN +1.64 points	2.22%	3.86%
Sunrun IncRUN	TAN +1.39 points	2.53%	3.92%
Daqo New Energy Corp AdrDQ	CNRG +1.23 points	3.09%	1.86%
Canadian Solar IncCSIQ	CNRG +1.19 points	2.43%	1.24%
Jinko Holdings LtdJKS	CNRG +1.00 points	1.87%	0.87%
Array Technologies IncARRY	CNRG +0.62 points	2.07%	1.45%
Renew Energy Global PLC ARNW	CNRG +0.61 points	2.00%	1.39%
Shoals Technologies Group ASHLS	CNRG +0.32 points	3.24%	2.92%
T1 Energy IncTE	CNRG +0.01 points	1.47%	1.46%

All 38 CNRG holdings⁠All 36 TAN holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CNRG vs TAN Cost

Overpaying TAN vs CNRG

$4,565

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

CNRG 0.45%
$9,041
TAN 0.70%
$13,606

Amount$10,000

Years30 years

Cost over time

CNRG 0.45%
TAN 0.70%
Overpaying

Year by year

Year	CNRG	TAN	Overpaying
10	$812	$1,250	$438
20	$3,128	$4,760	$1,632
30	$9,041	$13,606	$4,565

Expense ratio

0.45%CNRG, cheaper
0.70%TAN

CNRG0.45%TAN0.70%

0.38%0.79%

Middle half of Clean Energy funds
Median 0.59%

CNRG 3rd cheapest of 16 funds

TAN 14th cheapest of 16 funds

CNRG vs TAN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CNRG 1.66%, better; TAN 0.00%
Payout (12M): CNRG $1.27; TAN None
Last payment: CNRG $0.36; TAN No data
Ex-dividend: CNRG Sep 21, 2026; TAN No data
Paid on: CNRG Sep 23, 2026; TAN No data
Frequency: CNRG Quarterly; TAN No data

Distribution history

Per share, 2017 to 2026, same scale for both

CNRGQuarterly · 32 paymentsAll CNRG payments⁠

TAN6 paymentsAll TAN payments⁠

CNRG vs TAN Risk

Fall from peak · 5 years

CNRG
TAN

Risk facts

VolatilityStd dev, 3 years: CNRG 34.4%, betterTAN 38.1%
Return per unit of riskSharpe ratio, 3 years: CNRG 0.31, betterTAN 0.04
Worst fallMax drawdown, 5 years: CNRG −59.2%, betterTAN −74.0%
Market sensitivityBeta, 5 years: CNRG 1.87TAN 1.85; Market = 1

CNRG and TAN in the news

All news⁠

Top Movers
Memory-chip funds jump after SK hynix's record quarter as Israel funds fall
Oct 28, 2026TAN
Filings Digest
AllianceBernstein's AB US Research Advanced ETF began trading on Nasdaq Monday
Oct 27, 2026CNRG
Deep Dive
The grid fund is more than five times the clean-energy flagship, and they barely overlap
Oct 26, 2026TAN
Deep Dive
Solar funds fall 3% after the Fed hike. The 1,137 MW of PPAs pay from 2029
Sep 20, 2026TAN

Popular comparisons

CNRGBvsICLNA
State Street SPDR S&P Kensho Clean Power ETF · iShares Global Clean Energy ETF
Expense ratio
0.45% · 0.38%
Category
TANDvsICLNA
Invesco Solar ETF · iShares Global Clean Energy ETF
Expense ratio
0.70% · 0.38%
Category
CNRGBvsFRNWA
State Street SPDR S&P Kensho Clean Power ETF · Fidelity Clean Energy ETF
Expense ratio
0.45% · 0.39%
Category
TANDvsFRNWA
Invesco Solar ETF · Fidelity Clean Energy ETF
Expense ratio
0.70% · 0.39%
Category
CNRGBvsIBATB
State Street SPDR S&P Kensho Clean Power ETF · iShares Energy Storage & Materials ETF
Expense ratio
0.45% · 0.47%
Category
TANDvsIBATB
Invesco Solar ETF · iShares Energy Storage & Materials ETF
Expense ratio
0.70% · 0.47%
Category

CNRG vs TAN

In short

Stated mandate

Why people hold it