CleanTech vs the S&P 500 (CTEC): is it outperforming?
Over the past month, CTEC has underperformed the S&P 500 by 14.8 points. Here is where that puts it in the sector rotation — updated daily.
Where CTEC sits on the rotation map
CleanTech highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
CTEC vs SPY: head-to-head returns
CTEC (cleantech) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means CTEC won that window.
Data as of 2026-07-13 · computed from daily adjusted closes · how we measure
The read
CleanTech (CTEC) is losing its lead. It built a 0.4-point advantage over the S&P 500 across the longer, time-shifted window, but over the past month it has slipped 14.8 points behind the market — the weakening quadrant of the rotation map. Ranked by one-month spread, it currently stands #110 of the 115 groups Zensei tracks — among the market's weakest pockets right now.
On the shorter tape, CTEC's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. CTEC's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via Global X CleanTech ETF, whose 19 tracked holdings are led by BLOOM ENERGY CORP CLASS A, FIRST SOLAR INC and NEXTPOWER INC CLASS A. Weighted by portfolio, the fund's holdings trade at roughly 29.0× earnings and 11.1× sales. The thing to watch from here is whether this is a pause or a handoff: weakening groups sometimes reset and reclaim leadership, but a deepening one-month deficit usually means rotation has moved on.
What's inside CTEC
Top 5 of 19 tracked holdings, by portfolio weight.
CleanTech vs the market — common questions
Is cleantech outperforming the S&P 500?
Right now, no: over the past month CTEC has underperformed the S&P 500 by 14.8 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is CTEC?
CTEC is Global X CleanTech ETF, the fund Zensei uses to measure the cleantech group against the S&P 500 benchmark (SPY).
Which stocks are in CTEC?
CTEC's largest tracked positions are BLOOM ENERGY CORP CLASS A, FIRST SOLAR INC, NEXTPOWER INC CLASS A, ENPHASE ENERGY INC, QUANTUMSCAPE CORP ORDINARY SHARES CLASS A — 19 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is cleantech in right now?
As of the latest daily data, cleantech is in the weakening quadrant — still ahead over the longer window, but behind the market over the past month. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track cleantech against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.