FRNW vs KGRN

FRNWAFidelity Clean Energy ETF

KGRNFKraneShares MSCI China Clean Technology Index ETF

In short

FRNW Fidelity wrote its own clean energy index, then priced the fund at 0.39% a year, matching the category's cheapest heavyweights and undercutting most rivals. Roughly 60 global stocks: solar, wind, and the grid gear behind them.

KGRN The clean-energy shelf is mostly global funds. KGRN goes one country deep: an MSCI index of roughly 50 Chinese environmental-technology names, run by a shop that does nothing but China.

Stated mandate

FRNW The fund seeks returns that generally track the Fidelity Clean Energy Index before fees and expenses.

KGRN The fund seeks to follow the performance of the MSCI China IMI Environment 10/40 Index.

Why people hold it

• FRNW 0.39% a year ties the low-cost leader of the group (ICLN) and comes in under CNRG at 0.45% and FAN at 0.61%. In a theme where fees often run higher, that is real money kept.
• Global by mandate, not US-only. The index reaches clean energy companies worldwide, so the fund follows the industry rather than one country's subsidy calendar.
• A plain index fund, not a stock-picking bet: it aims to track the Fidelity Clean Energy Index before fees, so what you own is spelled out in the methodology.
• One of the stronger builds in a crowded clean energy shelf on our review, with the low fee and a spread-out portfolio doing the heavy lifting. Pays quarterly.

• KGRN Single-country by design: it follows the MSCI China IMI Environment 10/40 Index, while most clean-energy peers spread their bets across global markets.
• Run by KraneShares, a China-focused specialist, and trading since 2017, so it carries a live record through several China market cycles.
• About 50 holdings keeps the theme legible: China clean tech is the whole portfolio, not a sliver buried inside a global basket.

Worth knowing

• FRNW One theme, one industry. Clean energy names swing with interest rates, policy shifts, and equipment prices, so the ride is far choppier than a broad market fund.
• Roughly 60 stocks. That is focused enough that a handful of names and a couple of countries carry real weight in the outcome.
• Not one of the giants. A mid-size asset base and moderate trading activity can mean wider bid-ask spreads than the category's most heavily traded funds.

• KGRN At 0.79% a year, it costs more than the clean-energy median of 0.59% and roughly double broad peers ICLN and FRNW at 0.39%.
• Thinly traded next to the category's largest funds, which can show up as wider bid-ask spreads and more cost around the trade itself.
• One country, about 50 stocks: Chinese policy shifts, regulation and currency moves flow straight through with no global diversification to soften them.

Full FRNW profile⁠

Full KGRN profile⁠