CLOD vs. GSIB

Last updated Jul 17, 2026

CLOD (Themes Cloud Computing ETF) and GSIB (Themes Global Systemically Important Banks ETF) are both exchange-traded funds - CLOD is a Technology Equities fund tracking the Solactive Cloud Technology Index, while GSIB is a Financials Equities fund actively managed by Themes. CLOD is passively managed, while GSIB is actively managed. Over the past year, CLOD returned -6.02% vs 45.11% for GSIB. At a 0.37 correlation, their price movements are largely independent. Both charge a 0.35% expense ratio.

Performance

CLOD vs. GSIB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Cloud Computing ETF (CLOD) and Themes Global Systemically Important Banks ETF (GSIB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLOD achieves a -2.62% return, which is significantly lower than GSIB's 18.96% return.

CLOD

• 1D: -0.83%
• 1M: 1.98%
• 6M: 1.25%
• YTD: -2.62%
• 1Y: -6.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GSIB

• 1D: -1.27%
• 1M: 2.63%
• 6M: 15.32%
• YTD: 18.96%
• 1Y: 45.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLOD vs. GSIB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLOD Themes Cloud Computing ETF	-2.62%	7.53%	21.03%	0.77%
GSIB Themes Global Systemically Important Banks ETF	18.96%	61.67%	32.86%	1.75%

Correlation

The correlation between CLOD and GSIB is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023	0.37

CLOD vs. GSIB - Sectors Allocation Comparison

Sectors	CLOD	GSIB
Technology	82.0%	0.1%
Communication Services	7.9%	-
Consumer Cyclical	7.1%	-
Industrials	1.4%	-
Financial Services	0.6%	99.3%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

CLOD vs. GSIB — Risk / Return Rank

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

CLOD

CLOD Risk / Return Rank: 7
CLOD Sharpe Ratio Rank: 7
CLOD Sortino Ratio Rank: 7
CLOD Omega Ratio Rank: 7
CLOD Calmar Ratio Rank: 8
CLOD Martin Ratio Rank: 8

GSIB

GSIB Risk / Return Rank: 86
GSIB Sharpe Ratio Rank: 92
GSIB Sortino Ratio Rank: 92
GSIB Omega Ratio Rank: 88
GSIB Calmar Ratio Rank: 79
GSIB Martin Ratio Rank: 77

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.

CLOD vs. GSIB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Cloud Computing ETF (CLOD) and Themes Global Systemically Important Banks ETF (GSIB). 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.

	CLOD	GSIB	Difference
Sharpe ratio: Return per unit of total volatility	-0.23	2.59	-2.82
Sortino ratio: Return per unit of downside risk	-0.15	3.59	-3.74
Omega ratio: Gain probability vs. loss probability	0.98	1.43	-0.45
Calmar ratio: Return relative to maximum drawdown	-0.19	3.26	-3.45
Martin ratio: Return relative to average drawdown	-0.40	11.42	-11.82

CLOD vs. GSIB - Sharpe Ratio Comparison

The current CLOD Sharpe Ratio is -0.23, which is lower than the GSIB Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of CLOD and GSIB, 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

CLOD vs. GSIB - Drawdown Comparison

The maximum CLOD drawdown since its inception was -31.36%, which is greater than GSIB's maximum drawdown of -17.71%. Use the drawdown chart below to compare losses from any high point for CLOD and GSIB.

Drawdown Indicators

	CLOD	GSIB	Difference
Max Drawdown Largest peak-to-trough decline	-31.36%	-17.71%	-13.65%
Max Drawdown (1Y) Largest decline over 1 year	-31.36%	-13.90%	-17.46%
Current Drawdown Current decline from peak	-12.12%	-1.27%	-10.85%
Average Drawdown Average peak-to-trough decline	-7.76%	-2.01%	-5.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.02%	3.96%	+11.06%

Volatility

CLOD vs. GSIB - Volatility Comparison

Themes Cloud Computing ETF (CLOD) has a higher volatility of 6.80% compared to Themes Global Systemically Important Banks ETF (GSIB) at 4.36%. This indicates that CLOD's price experiences larger fluctuations and is considered to be riskier than GSIB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLOD	GSIB	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.80%	4.36%	+2.44%
Volatility (6M) Calculated over the trailing 6-month period	22.65%	14.58%	+8.07%
Volatility (1Y) Calculated over the trailing 1-year period	25.97%	17.52%	+8.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.50%	18.39%	+6.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.50%	18.39%	+6.11%

CLOD vs. GSIB - Expense Ratio Comparison

Both CLOD and GSIB have an expense ratio of 0.35%.

Dividends

CLOD vs. GSIB - Dividend Comparison

CLOD's dividend yield for the trailing twelve months is around 1.51%, less than GSIB's 1.60% yield.

Position	TTM	2025	2024
CLOD Themes Cloud Computing ETF	1.51%	1.47%	0.00%
GSIB Themes Global Systemically Important Banks ETF	1.60%	1.91%	1.67%

Frequently Asked Questions

Can I hold both CLOD and GSIB in my portfolio?

CLOD and GSIB have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLOD or GSIB?

CLOD has higher volatility (6.80%) compared to GSIB (4.36%). In terms of maximum drawdown, CLOD dropped -31.36% vs GSIB's -17.71%.

Which ETF is better, CLOD or GSIB?

On 1-year performance, GSIB leads with 45.11% vs -6.02% for CLOD. Both ETFs have the same 0.35% expense ratio. On volatility, GSIB has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLOD or GSIB?

Over the 1-year period, GSIB has performed better with a 45.11% return vs -6.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLOD or GSIB?

CLOD and GSIB have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, CLOD or GSIB?

GSIB has the higher dividend yield at 1.60%, compared with 1.51% for CLOD.

What is the main difference between CLOD and GSIB?

CLOD is categorized as Technology Equities, while GSIB is Financials Equities.

Which has better risk-adjusted returns?

GSIB currently has the higher Sharpe Ratio (2.59 vs -0.23), 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.