CLOU vs. SKYY

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Cloud Computing ETF (CLOU) and First Trust ISE Cloud Computing Index Fund (SKYY).

CLOU and SKYY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CLOU is a passively managed fund by Global X that tracks the performance of the Indxx Global Cloud Computing Index. It was launched on Apr 12, 2019. SKYY is a passively managed fund by First Trust that tracks the performance of the ISE Cloud Computing Index. It was launched on Jul 5, 2011. Both CLOU and SKYY 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

CLOU vs. SKYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Cloud Computing ETF (CLOU) and First Trust ISE Cloud Computing Index Fund (SKYY). The values are adjusted to include any dividend payments, if applicable.

CLOU vs. SKYY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CLOU Global X Cloud Computing ETF	-13.79%	-5.59%	5.74%	41.36%	-39.56%	-3.27%	77.18%	4.79%
SKYY First Trust ISE Cloud Computing Index Fund	-15.93%	9.20%	35.87%	52.18%	-44.68%	10.62%	57.77%	1.86%

Returns By Period

In the year-to-date period, CLOU achieves a -13.79% return, which is significantly higher than SKYY's -15.93% return.

CLOU

• 1D: 3.45%
• 1M: 3.94%
• YTD: -13.79%
• 6M: -16.17%
• 1Y: -7.10%
• 3Y*: 2.05%
• 5Y*: -5.59%
• 10Y*: —

SKYY

• 1D: 3.96%
• 1M: -0.26%
• YTD: -15.93%
• 6M: -18.64%
• 1Y: 6.97%
• 3Y*: 17.80%
• 5Y*: 2.34%
• 10Y*: 14.23%

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

CLOU vs. SKYY - Expense Ratio Comparison

CLOU has a 0.68% expense ratio, which is higher than SKYY's 0.60% expense ratio.

CLOU

Global X Cloud Computing ETF

SKYY

First Trust ISE Cloud Computing Index Fund

Return for Risk

CLOU vs. SKYY — 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: 8
CLOU Sortino Ratio Rank: 8
CLOU Omega Ratio Rank: 8
CLOU Calmar Ratio Rank: 7
CLOU Martin Ratio Rank: 5

SKYY

SKYY Risk / Return Rank: 19
SKYY Sharpe Ratio Rank: 19
SKYY Sortino Ratio Rank: 21
SKYY Omega Ratio Rank: 20
SKYY Calmar Ratio Rank: 17
SKYY Martin Ratio Rank: 16

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. SKYY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Cloud Computing ETF (CLOU) and First Trust ISE Cloud Computing Index Fund (SKYY). 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.

	CLOU	SKYY	Difference
Sharpe ratio Return per unit of total volatility	-0.24	0.24	-0.48
Sortino ratio Return per unit of downside risk	-0.15	0.54	-0.69
Omega ratio Gain probability vs. loss probability	0.98	1.07	-0.09
Calmar ratio Return relative to maximum drawdown	-0.32	0.21	-0.53
Martin ratio Return relative to average drawdown	-0.86	0.53	-1.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CLOU vs. SKYY - Sharpe Ratio Comparison

The current CLOU Sharpe Ratio is -0.24, which is lower than the SKYY Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of CLOU and SKYY, 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

	CLOU	SKYY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.24	0.24	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.19	0.08	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.50	-0.37

Correlation

The correlation between CLOU and SKYY is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CLOU vs. SKYY - Dividend Comparison

Neither CLOU nor SKYY has paid dividends to shareholders.

	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%
SKYY First Trust ISE Cloud Computing Index Fund	0.00%	0.00%	0.00%	0.00%	0.23%	0.78%	0.17%	0.54%	0.37%	0.27%	0.35%	0.41%

Drawdowns

CLOU vs. SKYY - Drawdown Comparison

The maximum CLOU drawdown since its inception was -53.74%, roughly equal to the maximum SKYY drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for CLOU and SKYY.

Drawdown Indicators

	CLOU	SKYY	Difference
Max Drawdown Largest peak-to-trough decline	-53.74%	-53.20%	-0.54%
Max Drawdown (1Y) Largest decline over 1 year	-25.13%	-26.68%	+1.55%
Max Drawdown (5Y) Largest decline over 5 years	-53.74%	-53.20%	-0.54%
Max Drawdown (10Y) Largest decline over 10 years	—	-53.20%	—
Current Drawdown Current decline from peak	-38.26%	-23.77%	-14.49%
Average Drawdown Average peak-to-trough decline	-24.21%	-10.86%	-13.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.47%	10.59%	-1.12%

Volatility

CLOU vs. SKYY - Volatility Comparison

Global X Cloud Computing ETF (CLOU) and First Trust ISE Cloud Computing Index Fund (SKYY) have volatilities of 7.92% and 7.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CLOU	SKYY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.92%	7.91%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	18.82%	19.09%	-0.27%
Volatility (1Y) Calculated over the trailing 1-year period	29.28%	29.67%	-0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.63%	29.86%	-0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.31%	26.39%	+3.92%