CLOU vs. IGV

Last updated Jun 24, 2026

CLOU (Global X Cloud Computing ETF) and IGV (iShares Expanded Tech-Software Sector ETF) are both Technology Equities funds - CLOU tracks the Indxx Global Cloud Computing Index while IGV tracks the S&P North American Expanded Technology Software Index. Both are passively managed. Over the past 5 years, CLOU returned -5.18%/yr vs 2.37%/yr for IGV. Their correlation of 0.89 suggests significant overlap in exposure. CLOU charges 0.68%/yr vs 0.39%/yr for IGV.

Performance

CLOU vs. IGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Cloud Computing ETF (CLOU) and iShares Expanded Tech-Software Sector ETF (IGV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CLOU achieves a -4.95% return, which is significantly higher than IGV's -17.37% return.

CLOU

• 1D: 0.42%
• 1M: -5.99%
• YTD: -4.95%
• 6M: -5.99%
• 1Y: -5.37%
• 3Y*: 3.57%
• 5Y*: -5.18%
• 10Y*: —

IGV

• 1D: 0.01%
• 1M: -7.10%
• YTD: -17.37%
• 6M: -19.19%
• 1Y: -17.89%
• 3Y*: 9.05%
• 5Y*: 2.37%
• 10Y*: 15.70%

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

CLOU vs. IGV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CLOU Global X Cloud Computing ETF	-4.95%	-5.59%	5.74%	41.36%	-39.56%	-3.27%	77.18%	4.06%
IGV iShares Expanded Tech-Software Sector ETF	-17.37%	5.56%	23.41%	58.56%	-35.65%	12.30%	52.86%	8.41%

Correlation

The correlation between CLOU and IGV is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Apr 16, 2019	0.89

The correlation between CLOU and IGV has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.

CLOU vs. IGV - Sectors Allocation Comparison

Sectors	CLOU	IGV
Technology	90.7%	89.1%
Communication Services	4.0%	8.6%
Real Estate	3.2%	-
Consumer Cyclical	2.0%	0.3%
Healthcare	0.6%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	1.9%
Industrials	-	0.1%
Utilities	-	-

Return for Risk

CLOU vs. IGV — Risk / Return Rank

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

CLOU

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

IGV

IGV Risk / Return Rank: 4
IGV Sharpe Ratio Rank: 4
IGV Sortino Ratio Rank: 4
IGV Omega Ratio Rank: 4
IGV Calmar Ratio Rank: 5
IGV Martin Ratio Rank: 4

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.

CLOU vs. IGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Cloud Computing ETF (CLOU) and iShares Expanded Tech-Software Sector ETF (IGV). 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.

	CLOU	IGV	Difference
Sharpe ratio: Return per unit of total volatility	-0.18	-0.64	+0.46
Sortino ratio: Return per unit of downside risk	-0.05	-0.75	+0.70
Omega ratio: Gain probability vs. loss probability	0.99	0.91	+0.08
Calmar ratio: Return relative to maximum drawdown	-0.20	-0.49	+0.29
Martin ratio: Return relative to average drawdown	-0.47	-1.00	+0.53

CLOU vs. IGV - Sharpe Ratio Comparison

The current CLOU Sharpe Ratio is -0.18, which is higher than the IGV Sharpe Ratio of -0.64. The chart below compares the historical Sharpe Ratios of CLOU and IGV, 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

CLOU vs. IGV - Drawdown Comparison

The maximum CLOU drawdown since its inception was -53.74%, smaller than the maximum IGV drawdown of -63.45%. Use the drawdown chart below to compare losses from any high point for CLOU and IGV.

Drawdown Indicators

	CLOU	IGV	Difference
Max Drawdown Largest peak-to-trough decline	-53.74%	-63.45%	+9.71%
Max Drawdown (1Y) Largest decline over 1 year	-27.24%	-36.61%	+9.37%
Max Drawdown (3Y) Largest decline over 3 years	-33.18%	-36.61%	+3.43%
Max Drawdown (5Y) Largest decline over 5 years	-53.74%	-45.85%	-7.89%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.85%	—
Current Drawdown Current decline from peak	-31.93%	-25.85%	-6.08%
Average Drawdown Average peak-to-trough decline	-24.43%	-14.46%	-9.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.46%	17.94%	-6.48%

Volatility

CLOU vs. IGV - Volatility Comparison

Global X Cloud Computing ETF (CLOU) has a higher volatility of 13.72% compared to iShares Expanded Tech-Software Sector ETF (IGV) at 12.71%. This indicates that CLOU's price experiences larger fluctuations and is considered to be riskier than IGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLOU	IGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.72%	12.71%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	25.33%	24.86%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	29.89%	28.27%	+1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.65%	27.97%	+2.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.76%	26.38%	+4.38%

CLOU vs. IGV - Expense Ratio Comparison

CLOU has a 0.68% expense ratio, which is higher than IGV's 0.39% expense ratio.

Dividends

CLOU vs. IGV - Dividend Comparison

CLOU has not paid dividends to shareholders, while IGV's dividend yield for the trailing twelve months is around 0.02%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CLOU Global X Cloud Computing ETF	0.00%	0.00%	0.00%	0.00%	0.00%	1.76%	0.00%	0.05%	0.00%	0.00%	0.00%	0.00%
IGV iShares Expanded Tech-Software Sector ETF	0.02%	0.00%	0.00%	0.01%	0.01%	0.00%	0.35%	0.02%	0.16%	0.09%	0.82%	0.22%

Frequently Asked Questions

Can I hold both CLOU and IGV in my portfolio?

CLOU and IGV have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CLOU or IGV?

CLOU has higher volatility (13.72%) compared to IGV (12.71%). In terms of maximum drawdown, CLOU dropped -53.74% vs IGV's -63.45%.

Which ETF is better, CLOU or IGV?

On 5-year performance, IGV leads with 2.37% vs -5.18% for CLOU. On fees, IGV is cheaper at 0.39% per year. On volatility, IGV has been the lower-risk option at 12.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CLOU or IGV?

Over the 5-year period, IGV has performed better with a 2.37% return vs -5.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CLOU or IGV?

IGV is cheaper with a 0.39% expense ratio, compared with 0.68% for CLOU.

Which ETF pays a higher dividend yield, CLOU or IGV?

IGV has the higher dividend yield at 0.02%, compared with 0.00% for CLOU.

What is the main difference between CLOU and IGV?

CLOU tracks Indxx Global Cloud Computing Index, while IGV tracks S&P North American Expanded Technology Software Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.68% for CLOU and 0.39% for IGV.

Which has better risk-adjusted returns?

CLOU currently has the higher Sharpe Ratio (-0.18 vs -0.64), 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.