FCLD vs. IYW
FCLD (Fidelity Cloud Computing ETF) and IYW (iShares U.S. Technology ETF) are both Technology Equities funds - FCLD tracks the Fidelity Cloud Computing Index - Benchmark TR Gross while IYW tracks the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 3 years, FCLD returned 28.24%/yr vs 35.24%/yr for IYW. Their correlation of 0.81 suggests significant overlap in exposure. FCLD charges 0.39%/yr vs 0.38%/yr for IYW.
Performance
FCLD vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, FCLD achieves a 34.57% return, which is significantly higher than IYW's 29.03% return.
FCLD
- 1D
- -2.61%
- 1M
- 19.91%
- YTD
- 34.57%
- 6M
- 36.74%
- 1Y
- 45.14%
- 3Y*
- 28.24%
- 5Y*
- —
- 10Y*
- —
IYW
- 1D
- -0.92%
- 1M
- 16.53%
- YTD
- 29.03%
- 6M
- 28.22%
- 1Y
- 59.52%
- 3Y*
- 35.24%
- 5Y*
- 22.87%
- 10Y*
- 26.11%
FCLD vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FCLD Fidelity Cloud Computing ETF | 34.57% | 8.19% | 21.80% | 53.05% | -41.32% | -1.32% |
IYW iShares U.S. Technology ETF | 29.03% | 25.38% | 30.25% | 65.44% | -34.83% | 11.17% |
Correlation
The correlation between FCLD and IYW is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since Oct 8, 2021 | 0.81 |
The correlation between FCLD and IYW shifts across timeframes, from 0.67 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FCLD vs. IYW — Risk / Return Rank
FCLD
IYW
FCLD vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Cloud Computing ETF (FCLD) and iShares U.S. Technology ETF (IYW). 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.
| FCLD | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.48 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 3.36 | -0.76 |
| Martin ratioReturn relative to average drawdown | 6.81 | 11.00 | -4.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FCLD | IYW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.66 | 2.98 | -1.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.89 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.04 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.35 | -0.02 |
Drawdowns
FCLD vs. IYW - Drawdown Comparison
The maximum FCLD drawdown since its inception was -50.85%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for FCLD and IYW.
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Drawdown Indicators
| FCLD | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.85% | -81.90% | +31.05% |
Max Drawdown (1Y)Largest decline over 1 year | -17.48% | -17.81% | +0.33% |
Max Drawdown (3Y)Largest decline over 3 years | -34.80% | -26.47% | -8.33% |
Max Drawdown (5Y)Largest decline over 5 years | — | -39.44% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.44% | — |
Current DrawdownCurrent decline from peak | -4.00% | -0.92% | -3.08% |
Average DrawdownAverage peak-to-trough decline | -20.51% | -34.66% | +14.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.64% | 5.43% | +1.21% |
Volatility
FCLD vs. IYW - Volatility Comparison
Fidelity Cloud Computing ETF (FCLD) has a higher volatility of 10.45% compared to iShares U.S. Technology ETF (IYW) at 6.30%. This indicates that FCLD's price experiences larger fluctuations and is considered to be riskier than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCLD | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.45% | 6.30% | +4.15% |
Volatility (6M)Calculated over the trailing 6-month period | 22.07% | 15.85% | +6.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.40% | 20.09% | +7.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.50% | 25.87% | +4.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.50% | 25.09% | +5.41% |
FCLD vs. IYW - Expense Ratio Comparison
FCLD has a 0.39% expense ratio, which is higher than IYW's 0.38% expense ratio.
Dividends
FCLD vs. IYW - Dividend Comparison
FCLD's dividend yield for the trailing twelve months is around 0.02%, less than IYW's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCLD Fidelity Cloud Computing ETF | 0.02% | 0.03% | 0.13% | 0.17% | 0.26% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
FCLD and IYW have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCLD has higher volatility (10.45%) compared to IYW (6.30%). In terms of maximum drawdown, FCLD dropped -50.85% vs IYW's -81.90%.
On 3-year performance, IYW leads with 35.24% vs 28.24% for FCLD. On fees, IYW is cheaper at 0.38% per year. On volatility, IYW has been the lower-risk option at 6.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IYW has performed better with a 35.24% return vs 28.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 0.39% for FCLD.
IYW has the higher dividend yield at 0.11%, compared with 0.02% for FCLD.
FCLD tracks Fidelity Cloud Computing Index - Benchmark TR Gross, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. They also come from different issuers: Fidelity and iShares. Their fees differ too: 0.39% for FCLD and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (2.98 vs 1.66), 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.
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