CLOD vs. KNCT

Last updated Jun 24, 2026

CLOD (Themes Cloud Computing ETF) and KNCT (Invesco Next Gen Connectivity ETF) are both Technology Equities funds - CLOD tracks the Solactive Cloud Technology Index while KNCT tracks the STOXX World AC NexGen Connectivity Index. Both are passively managed. Over the past year, CLOD returned -8.67% vs 84.85% for KNCT. A 0.68 correlation means they provide meaningful diversification when combined. CLOD charges 0.35%/yr vs 0.40%/yr for KNCT.

Performance

CLOD vs. KNCT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Cloud Computing ETF (CLOD) and Invesco Next Gen Connectivity ETF (KNCT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLOD achieves a -8.39% return, which is significantly lower than KNCT's 54.15% return.

CLOD

• 1D: 0.22%
• 1M: -5.33%
• YTD: -8.39%
• 6M: -9.76%
• 1Y: -8.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KNCT

• 1D: -5.38%
• 1M: 5.48%
• YTD: 54.15%
• 6M: 54.94%
• 1Y: 84.85%
• 3Y*: 40.93%
• 5Y*: 19.32%
• 10Y*: 21.11%

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

CLOD vs. KNCT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLOD Themes Cloud Computing ETF	-8.39%	7.53%	21.03%	0.77%
KNCT Invesco Next Gen Connectivity ETF	54.15%	28.65%	19.41%	1.55%

Correlation

The correlation between CLOD and KNCT is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023	0.68

The correlation between CLOD and KNCT shifts across timeframes, from 0.56 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.

CLOD vs. KNCT - Sectors Allocation Comparison

Sectors	CLOD	KNCT
Technology	81.5%	84.4%
Communication Services	8.4%	11.4%
Consumer Cyclical	6.8%	-
Industrials	1.3%	0.8%
Financial Services	0.8%	0.2%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	3.3%
Utilities	-	-

Return for Risk

CLOD vs. KNCT — Risk / Return Rank

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

CLOD

CLOD Risk / Return Rank: 6
CLOD Sharpe Ratio Rank: 6
CLOD Sortino Ratio Rank: 6
CLOD Omega Ratio Rank: 6
CLOD Calmar Ratio Rank: 6
CLOD Martin Ratio Rank: 6

KNCT

KNCT Risk / Return Rank: 93
KNCT Sharpe Ratio Rank: 95
KNCT Sortino Ratio Rank: 90
KNCT Omega Ratio Rank: 92
KNCT Calmar Ratio Rank: 94
KNCT Martin Ratio Rank: 96

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. KNCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Cloud Computing ETF (CLOD) and Invesco Next Gen Connectivity ETF (KNCT). 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	KNCT	Difference
Sharpe ratio: Return per unit of total volatility	-0.34	3.42	-3.76
Sortino ratio: Return per unit of downside risk	-0.30	3.96	-4.26
Omega ratio: Gain probability vs. loss probability	0.96	1.57	-0.61
Calmar ratio: Return relative to maximum drawdown	-0.28	6.94	-7.21
Martin ratio: Return relative to average drawdown	-0.59	30.00	-30.59

CLOD vs. KNCT - Sharpe Ratio Comparison

The current CLOD Sharpe Ratio is -0.34, which is lower than the KNCT Sharpe Ratio of 3.42. The chart below compares the historical Sharpe Ratios of CLOD and KNCT, 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. KNCT - Drawdown Comparison

The maximum CLOD drawdown since its inception was -31.36%, smaller than the maximum KNCT drawdown of -57.18%. Use the drawdown chart below to compare losses from any high point for CLOD and KNCT.

Drawdown Indicators

	CLOD	KNCT	Difference
Max Drawdown Largest peak-to-trough decline	-31.36%	-57.18%	+25.82%
Max Drawdown (1Y) Largest decline over 1 year	-31.36%	-12.30%	-19.06%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.40%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.55%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.55%	—
Current Drawdown Current decline from peak	-17.33%	-6.27%	-11.06%
Average Drawdown Average peak-to-trough decline	-7.62%	-10.73%	+3.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.63%	2.84%	+11.79%

Volatility

CLOD vs. KNCT - Volatility Comparison

The current volatility for Themes Cloud Computing ETF (CLOD) is 11.59%, while Invesco Next Gen Connectivity ETF (KNCT) has a volatility of 15.64%. This indicates that CLOD experiences smaller price fluctuations and is considered to be less risky than KNCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLOD	KNCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.59%	15.64%	-4.05%
Volatility (6M) Calculated over the trailing 6-month period	22.32%	21.75%	+0.57%
Volatility (1Y) Calculated over the trailing 1-year period	25.74%	25.15%	+0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.54%	23.96%	+0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.54%	23.33%	+1.21%

CLOD vs. KNCT - Expense Ratio Comparison

CLOD has a 0.35% expense ratio, which is lower than KNCT's 0.40% expense ratio.

Dividends

CLOD vs. KNCT - Dividend Comparison

CLOD's dividend yield for the trailing twelve months is around 1.60%, more than KNCT's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CLOD Themes Cloud Computing ETF	1.60%	1.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KNCT Invesco Next Gen Connectivity ETF	0.62%	0.86%	1.38%	0.60%	2.24%	0.55%	0.18%	0.44%	1.22%	0.66%	0.44%

Frequently Asked Questions

Can I hold both CLOD and KNCT in my portfolio?

CLOD and KNCT have a correlation of 0.56, 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 KNCT?

KNCT has higher volatility (15.64%) compared to CLOD (11.59%). In terms of maximum drawdown, CLOD dropped -31.36% vs KNCT's -57.18%.

Which ETF is better, CLOD or KNCT?

On 1-year performance, KNCT leads with 84.85% vs -8.67% for CLOD. On fees, CLOD is cheaper at 0.35% per year. On volatility, CLOD has been the lower-risk option at 11.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLOD or KNCT?

Over the 1-year period, KNCT has performed better with a 84.85% return vs -8.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLOD or KNCT?

CLOD is cheaper with a 0.35% expense ratio, compared with 0.40% for KNCT.

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

CLOD has the higher dividend yield at 1.60%, compared with 0.62% for KNCT.

What is the main difference between CLOD and KNCT?

CLOD tracks Solactive Cloud Technology Index, while KNCT tracks STOXX World AC NexGen Connectivity Index. They also come from different issuers: Themes and Invesco. Their fees differ too: 0.35% for CLOD and 0.40% for KNCT.

Which has better risk-adjusted returns?

KNCT currently has the higher Sharpe Ratio (3.42 vs -0.34), 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.