CLOD vs. VOX

Last updated Jun 4, 2026

CLOD (Themes Cloud Computing ETF) and VOX (Vanguard Communication Services ETF) are both Technology Equities funds - CLOD tracks the Solactive Cloud Technology Index while VOX tracks the MSCI US Investable Market Telecommunication Services 25/50 Index. Both are passively managed. Over the past year, CLOD returned 2.49% vs 20.55% for VOX. A 0.63 correlation means they provide meaningful diversification when combined. CLOD charges 0.35%/yr vs 0.10%/yr for VOX.

Performance

CLOD vs. VOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Cloud Computing ETF (CLOD) and Vanguard Communication Services ETF (VOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLOD achieves a 3.48% return, which is significantly higher than VOX's -1.38% return.

CLOD

• 1D: -3.72%
• 1M: 14.95%
• YTD: 3.48%
• 6M: 1.34%
• 1Y: 2.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VOX

• 1D: -0.84%
• 1M: -2.77%
• YTD: -1.38%
• 6M: 0.47%
• 1Y: 20.55%
• 3Y*: 24.02%
• 5Y*: 7.58%
• 10Y*: 9.30%

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

CLOD vs. VOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CLOD Themes Cloud Computing ETF	3.48%	7.53%	21.03%	0.43%
VOX Vanguard Communication Services ETF	-1.38%	26.27%	33.12%	3.06%

Correlation

The correlation between CLOD and VOX is 0.52, 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	0.52
Correlation (All Time) Calculated using the full available price history since Dec 18, 2023	0.63

The correlation between CLOD and VOX shifts across timeframes, from 0.52 (1 year) to 0.63 (all time), reflecting how their relationship changes across market environments.

CLOD vs. VOX - Sectors Allocation Comparison

Sectors	CLOD	VOX
Technology	75.6%	1.2%
Consumer Cyclical	12.4%	0.2%
Communication Services	11.7%	98.4%
Industrials	1.5%	0.0%
Financial Services	0.3%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	0.0%
Real Estate	-	0.1%
Utilities	-	-

Return for Risk

CLOD vs. VOX — Risk / Return Rank

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

CLOD

CLOD Risk / Return Rank: 10
CLOD Sharpe Ratio Rank: 10
CLOD Sortino Ratio Rank: 10
CLOD Omega Ratio Rank: 10
CLOD Calmar Ratio Rank: 10
CLOD Martin Ratio Rank: 10

VOX

VOX Risk / Return Rank: 35
VOX Sharpe Ratio Rank: 36
VOX Sortino Ratio Rank: 38
VOX Omega Ratio Rank: 35
VOX Calmar Ratio Rank: 30
VOX Martin Ratio Rank: 37

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. VOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Cloud Computing ETF (CLOD) and Vanguard Communication Services ETF (VOX). 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	VOX	Difference
Sharpe ratio: Return per unit of total volatility	0.10	1.34	-1.24
Sortino ratio: Return per unit of downside risk	0.31	2.00	-1.69
Omega ratio: Gain probability vs. loss probability	1.04	1.24	-0.20
Calmar ratio: Return relative to maximum drawdown	0.08	1.52	-1.44
Martin ratio: Return relative to average drawdown	0.17	5.83	-5.65
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. VOX - Sharpe Ratio Comparison

The current CLOD Sharpe Ratio is 0.10, which is lower than the VOX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of CLOD and VOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CLOD	VOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.10	1.34	-1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.36	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.43	+0.10

Drawdowns

CLOD vs. VOX - Drawdown Comparison

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

Drawdown Indicators

	CLOD	VOX	Difference
Max Drawdown Largest peak-to-trough decline	-31.36%	-57.18%	+25.82%
Max Drawdown (1Y) Largest decline over 1 year	-31.36%	-13.56%	-17.80%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.15%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.76%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-46.76%	—
Current Drawdown Current decline from peak	-6.61%	-4.70%	-1.91%
Average Drawdown Average peak-to-trough decline	-7.51%	-11.91%	+4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.29%	3.54%	+10.75%

Volatility

CLOD vs. VOX - Volatility Comparison

Themes Cloud Computing ETF (CLOD) has a higher volatility of 10.13% compared to Vanguard Communication Services ETF (VOX) at 4.24%. This indicates that CLOD's price experiences larger fluctuations and is considered to be riskier than VOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLOD	VOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.13%	4.24%	+5.89%
Volatility (6M) Calculated over the trailing 6-month period	21.71%	11.16%	+10.55%
Volatility (1Y) Calculated over the trailing 1-year period	25.07%	15.45%	+9.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.46%	21.15%	+3.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.46%	20.89%	+3.57%

CLOD vs. VOX - Expense Ratio Comparison

CLOD has a 0.35% expense ratio, which is higher than VOX's 0.10% expense ratio.

Dividends

CLOD vs. VOX - Dividend Comparison

CLOD's dividend yield for the trailing twelve months is around 1.42%, more than VOX's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CLOD Themes Cloud Computing ETF	1.42%	1.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOX Vanguard Communication Services ETF	1.00%	0.95%	1.05%	1.03%	0.88%	0.93%	0.73%	0.90%	2.77%	3.83%	2.67%	3.55%

Frequently Asked Questions

Can I hold both CLOD and VOX in my portfolio?

CLOD and VOX have a correlation of 0.52, 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 VOX?

CLOD has higher volatility (10.13%) compared to VOX (4.24%). In terms of maximum drawdown, CLOD dropped -31.36% vs VOX's -57.18%.

Which ETF is better, CLOD or VOX?

On 1-year performance, VOX leads with 20.55% vs 2.49% for CLOD. On fees, VOX is cheaper at 0.10% per year. On volatility, VOX has been the lower-risk option at 4.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLOD or VOX?

Over the 1-year period, VOX has performed better with a 20.55% return vs 2.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLOD or VOX?

VOX is cheaper with a 0.10% expense ratio, compared with 0.35% for CLOD.

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

CLOD has the higher dividend yield at 1.42%, compared with 1.00% for VOX.

What is the main difference between CLOD and VOX?

CLOD tracks Solactive Cloud Technology Index, while VOX tracks MSCI US Investable Market Telecommunication Services 25/50 Index. They also come from different issuers: Themes and Vanguard. Their fees differ too: 0.35% for CLOD and 0.10% for VOX.

Which has better risk-adjusted returns?

VOX currently has the higher Sharpe Ratio (1.34 vs 0.10), 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.