BUG vs. SKYY

Last updated Jun 24, 2026

BUG (Global X Cybersecurity ETF) and SKYY (First Trust ISE Cloud Computing Index Fund) are both Technology Equities funds - BUG tracks the Indxx Cybersecurity Index while SKYY tracks the ISE Cloud Computing Index. Both are passively managed. Over the past 5 years, BUG returned 3.60%/yr vs 4.29%/yr for SKYY. Their correlation of 0.85 suggests significant overlap in exposure. BUG charges 0.50%/yr vs 0.60%/yr for SKYY.

Performance

BUG vs. SKYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Cybersecurity ETF (BUG) and First Trust ISE Cloud Computing Index Fund (SKYY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUG achieves a 11.69% return, which is significantly higher than SKYY's -0.55% return.

BUG

• 1D: 2.13%
• 1M: -0.96%
• YTD: 11.69%
• 6M: 9.26%
• 1Y: -6.48%
• 3Y*: 13.04%
• 5Y*: 3.60%
• 10Y*: —

SKYY

• 1D: -0.14%
• 1M: -2.76%
• YTD: -0.55%
• 6M: -2.25%
• 1Y: 11.01%
• 3Y*: 20.55%
• 5Y*: 4.29%
• 10Y*: 16.18%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BUG vs. SKYY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BUG Global X Cybersecurity ETF	11.69%	-5.04%	9.59%	41.40%	-33.63%	13.24%	70.83%	6.21%
SKYY First Trust ISE Cloud Computing Index Fund	-0.55%	9.20%	35.87%	52.18%	-44.68%	10.62%	57.77%	3.89%

Correlation

The correlation between BUG and SKYY is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Oct 31, 2019	0.85

The correlation between BUG and SKYY has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

BUG vs. SKYY - Sectors Allocation Comparison

Sectors	BUG	SKYY
Technology	100.0%	88.9%
Communication Services	0.0%	4.8%
Consumer Cyclical	0.0%	1.6%
Consumer Defensive	0.0%	-
Healthcare	0.0%	1.6%
Basic Materials	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	1.6%
Real Estate	-	-
Utilities	-	-

Return for Risk

BUG vs. SKYY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BUG

BUG Risk / Return Rank: 7
BUG Sharpe Ratio Rank: 7
BUG Sortino Ratio Rank: 7
BUG Omega Ratio Rank: 7
BUG Calmar Ratio Rank: 7
BUG Martin Ratio Rank: 7

SKYY

SKYY Risk / Return Rank: 14
SKYY Sharpe Ratio Rank: 14
SKYY Sortino Ratio Rank: 15
SKYY Omega Ratio Rank: 15
SKYY Calmar Ratio Rank: 13
SKYY Martin Ratio Rank: 13

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BUG vs. SKYY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Cybersecurity ETF (BUG) and First Trust ISE Cloud Computing Index Fund (SKYY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BUG	SKYY	Difference
Sharpe ratio: Return per unit of total volatility	-0.21	0.39	-0.60
Sortino ratio: Return per unit of downside risk	-0.08	0.75	-0.83
Omega ratio: Gain probability vs. loss probability	0.99	1.09	-0.10
Calmar ratio: Return relative to maximum drawdown	-0.17	0.40	-0.58
Martin ratio: Return relative to average drawdown	-0.35	0.88	-1.23

BUG vs. SKYY - Sharpe Ratio Comparison

The current BUG Sharpe Ratio is -0.21, which is lower than the SKYY Sharpe Ratio of 0.39. The chart below compares the historical Sharpe Ratios of BUG and SKYY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BUG vs. SKYY - Drawdown Comparison

The maximum BUG drawdown since its inception was -41.66%, smaller than the maximum SKYY drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for BUG and SKYY.

Drawdown Indicators

	BUG	SKYY	Difference
Max Drawdown Largest peak-to-trough decline	-41.66%	-53.20%	+11.54%
Max Drawdown (1Y) Largest decline over 1 year	-37.69%	-27.39%	-10.30%
Max Drawdown (3Y) Largest decline over 3 years	-37.69%	-31.80%	-5.89%
Max Drawdown (5Y) Largest decline over 5 years	-41.66%	-53.20%	+11.54%
Max Drawdown (10Y) Largest decline over 10 years	—	-53.20%	—
Current Drawdown Current decline from peak	-11.75%	-16.63%	+4.88%
Average Drawdown Average peak-to-trough decline	-14.38%	-10.90%	-3.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.53%	12.55%	+5.98%

Volatility

BUG vs. SKYY - Volatility Comparison

Global X Cybersecurity ETF (BUG) and First Trust ISE Cloud Computing Index Fund (SKYY) have volatilities of 13.95% and 13.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUG	SKYY	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.95%	13.51%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	26.20%	23.95%	+2.25%
Volatility (1Y) Calculated over the trailing 1-year period	31.21%	28.58%	+2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.55%	30.73%	-2.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.30%	26.89%	+2.41%

BUG vs. SKYY - Expense Ratio Comparison

BUG has a 0.50% expense ratio, which is lower than SKYY's 0.60% expense ratio.

Dividends

BUG vs. SKYY - Dividend Comparison

BUG's dividend yield for the trailing twelve months is around 0.03%, while SKYY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUG Global X Cybersecurity ETF	0.03%	0.04%	0.09%	0.10%	1.56%	0.66%	0.46%	0.24%	0.00%	0.00%	0.00%	0.00%
SKYY First Trust ISE Cloud Computing Index Fund	0.00%	0.00%	0.00%	0.00%	0.23%	0.78%	0.17%	0.54%	0.37%	0.27%	0.35%	0.41%

Frequently Asked Questions

Can I hold both BUG and SKYY in my portfolio?

BUG and SKYY have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUG or SKYY?

BUG has higher volatility (13.95%) compared to SKYY (13.51%). In terms of maximum drawdown, BUG dropped -41.66% vs SKYY's -53.20%.

Which ETF is better, BUG or SKYY?

On 5-year performance, SKYY leads with 4.29% vs 3.60% for BUG. On fees, BUG is cheaper at 0.50% per year. On volatility, SKYY has been the lower-risk option at 13.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUG or SKYY?

Over the 5-year period, SKYY has performed better with a 4.29% return vs 3.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUG or SKYY?

BUG is cheaper with a 0.50% expense ratio, compared with 0.60% for SKYY.

Which ETF pays a higher dividend yield, BUG or SKYY?

BUG has the higher dividend yield at 0.03%, compared with 0.00% for SKYY.

What is the main difference between BUG and SKYY?

BUG tracks Indxx Cybersecurity Index, while SKYY tracks ISE Cloud Computing Index. They also come from different issuers: Global X and First Trust. Their fees differ too: 0.50% for BUG and 0.60% for SKYY.

Which has better risk-adjusted returns?

SKYY currently has the higher Sharpe Ratio (0.39 vs -0.21), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.