CLOD vs. USCF

Last updated Apr 1, 2026

Compare and contrast key facts about Themes Cloud Computing ETF (CLOD) and Themes US Cash Flow Champions ETF (USCF).

CLOD and USCF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CLOD is a passively managed fund by Themes that tracks the performance of the Solactive Cloud Technology Index. It was launched on Dec 14, 2023. USCF is a passively managed fund by Themes that tracks the performance of the Solactive US Cash Flow Champions Index - Benchmark TR Gross. It was launched on Dec 12, 2023. Both CLOD and USCF are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

CLOD vs. USCF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Cloud Computing ETF (CLOD) and Themes US Cash Flow Champions ETF (USCF). The values are adjusted to include any dividend payments, if applicable.

CLOD vs. USCF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLOD Themes Cloud Computing ETF	-20.84%	7.53%	21.03%	0.43%
USCF Themes US Cash Flow Champions ETF	1.34%	15.71%	17.65%	1.41%

Returns By Period

In the year-to-date period, CLOD achieves a -20.84% return, which is significantly lower than USCF's 1.34% return.

CLOD

• 1D: 3.17%
• 1M: -2.62%
• YTD: -20.84%
• 6M: -26.88%
• 1Y: -8.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USCF

• 1D: 1.31%
• 1M: -0.21%
• YTD: 1.34%
• 6M: 3.72%
• 1Y: 12.70%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CLOD vs. USCF - Expense Ratio Comparison

CLOD has a 0.35% expense ratio, which is higher than USCF's 0.29% expense ratio.

CLOD

Themes Cloud Computing ETF

USCF

Themes US Cash Flow Champions ETF

Return for Risk

CLOD vs. USCF — 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: 7
CLOD Martin Ratio Rank: 6

USCF

USCF Risk / Return Rank: 39
USCF Sharpe Ratio Rank: 36
USCF Sortino Ratio Rank: 35
USCF Omega Ratio Rank: 39
USCF Calmar Ratio Rank: 40
USCF Martin Ratio Rank: 47

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. USCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Cloud Computing ETF (CLOD) and Themes US Cash Flow Champions ETF (USCF). 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.

	CLOD	USCF	Difference
Sharpe ratio Return per unit of total volatility	-0.32	0.68	-1.00
Sortino ratio Return per unit of downside risk	-0.28	1.01	-1.28
Omega ratio Gain probability vs. loss probability	0.97	1.16	-0.19
Calmar ratio Return relative to maximum drawdown	-0.29	1.02	-1.31
Martin ratio Return relative to average drawdown	-0.77	4.48	-5.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLOD vs. USCF - Sharpe Ratio Comparison

The current CLOD Sharpe Ratio is -0.32, which is lower than the USCF Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of CLOD and USCF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CLOD	USCF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.32	0.68	-1.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	1.05	-0.98

Correlation

The correlation between CLOD and USCF is 0.40, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

CLOD vs. USCF - Dividend Comparison

CLOD's dividend yield for the trailing twelve months is around 1.85%, more than USCF's 1.81% yield.

	TTM	2025	2024
CLOD Themes Cloud Computing ETF	1.85%	1.47%	0.00%
USCF Themes US Cash Flow Champions ETF	1.81%	1.84%	1.19%

Drawdowns

CLOD vs. USCF - Drawdown Comparison

The maximum CLOD drawdown since its inception was -31.36%, which is greater than USCF's maximum drawdown of -16.67%. Use the drawdown chart below to compare losses from any high point for CLOD and USCF.

Drawdown Indicators

	CLOD	USCF	Difference
Max Drawdown Largest peak-to-trough decline	-31.36%	-16.67%	-14.69%
Max Drawdown (1Y) Largest decline over 1 year	-31.36%	-14.16%	-17.20%
Current Drawdown Current decline from peak	-28.56%	-2.49%	-26.07%
Average Drawdown Average peak-to-trough decline	-6.63%	-2.28%	-4.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.66%	3.23%	+8.43%

Volatility

CLOD vs. USCF - Volatility Comparison

Themes Cloud Computing ETF (CLOD) has a higher volatility of 8.33% compared to Themes US Cash Flow Champions ETF (USCF) at 5.48%. This indicates that CLOD's price experiences larger fluctuations and is considered to be riskier than USCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLOD	USCF	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.33%	5.48%	+2.85%
Volatility (6M) Calculated over the trailing 6-month period	18.12%	10.69%	+7.43%
Volatility (1Y) Calculated over the trailing 1-year period	25.53%	18.77%	+6.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.49%	15.52%	+7.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.49%	15.52%	+7.97%