FCLD vs. KROP

Last updated Jun 24, 2026

FCLD (Fidelity Cloud Computing ETF) and KROP (Global X AgTech & Food Innovation ETF) are both Technology Equities funds - FCLD tracks the Fidelity Cloud Computing Index - Benchmark TR Gross while KROP tracks the Solactive AgTech & Food Innovation Index. Both are passively managed. Over the past 3 years, FCLD returned 25.90%/yr vs -1.05%/yr for KROP. At a 0.48 correlation, their price movements are largely independent. FCLD charges 0.39%/yr vs 0.50%/yr for KROP.

Performance

FCLD vs. KROP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Cloud Computing ETF (FCLD) and Global X AgTech & Food Innovation ETF (KROP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCLD achieves a 26.49% return, which is significantly higher than KROP's 11.60% return.

FCLD

• 1D: -1.44%
• 1M: 5.37%
• YTD: 26.49%
• 6M: 25.09%
• 1Y: 36.88%
• 3Y*: 25.90%
• 5Y*: —
• 10Y*: —

KROP

• 1D: -1.01%
• 1M: -1.85%
• YTD: 11.60%
• 6M: 11.45%
• 1Y: 7.63%
• 3Y*: -1.05%
• 5Y*: —
• 10Y*: —

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

FCLD vs. KROP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FCLD Fidelity Cloud Computing ETF	26.49%	8.19%	21.80%	53.05%	-41.32%	-1.59%
KROP Global X AgTech & Food Innovation ETF	11.60%	7.95%	-8.74%	-23.86%	-27.23%	-7.58%

Correlation

The correlation between FCLD and KROP is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Oct 7, 2021	0.48

Over the past year, the correlation between FCLD and KROP has dropped to 0.15 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.

Return for Risk

FCLD vs. KROP — Risk / Return Rank

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

FCLD

FCLD Risk / Return Rank: 38
FCLD Sharpe Ratio Rank: 38
FCLD Sortino Ratio Rank: 37
FCLD Omega Ratio Rank: 35
FCLD Calmar Ratio Rank: 45
FCLD Martin Ratio Rank: 36

KROP

KROP Risk / Return Rank: 16
KROP Sharpe Ratio Rank: 16
KROP Sortino Ratio Rank: 15
KROP Omega Ratio Rank: 15
KROP Calmar Ratio Rank: 17
KROP 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.

FCLD vs. KROP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Cloud Computing ETF (FCLD) and Global X AgTech & Food Innovation ETF (KROP). 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.

	FCLD	KROP	Difference
Sharpe ratio: Return per unit of total volatility	1.31	0.47	+0.83
Sortino ratio: Return per unit of downside risk	1.86	0.79	+1.07
Omega ratio: Gain probability vs. loss probability	1.23	1.10	+0.13
Calmar ratio: Return relative to maximum drawdown	2.12	0.68	+1.44
Martin ratio: Return relative to average drawdown	5.32	1.46	+3.86

FCLD vs. KROP - Sharpe Ratio Comparison

The current FCLD Sharpe Ratio is 1.31, which is higher than the KROP Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of FCLD and KROP, 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

FCLD vs. KROP - Drawdown Comparison

The maximum FCLD drawdown since its inception was -50.85%, smaller than the maximum KROP drawdown of -62.08%. Use the drawdown chart below to compare losses from any high point for FCLD and KROP.

Drawdown Indicators

	FCLD	KROP	Difference
Max Drawdown Largest peak-to-trough decline	-50.85%	-62.08%	+11.23%
Max Drawdown (1Y) Largest decline over 1 year	-17.48%	-11.29%	-6.19%
Max Drawdown (3Y) Largest decline over 3 years	-34.80%	-28.70%	-6.10%
Current Drawdown Current decline from peak	-9.76%	-51.27%	+41.51%
Average Drawdown Average peak-to-trough decline	-20.36%	-44.71%	+24.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.95%	5.23%	+1.72%

Volatility

FCLD vs. KROP - Volatility Comparison

Fidelity Cloud Computing ETF (FCLD) has a higher volatility of 12.64% compared to Global X AgTech & Food Innovation ETF (KROP) at 4.54%. This indicates that FCLD's price experiences larger fluctuations and is considered to be riskier than KROP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCLD	KROP	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.64%	4.54%	+8.10%
Volatility (6M) Calculated over the trailing 6-month period	23.01%	12.48%	+10.53%
Volatility (1Y) Calculated over the trailing 1-year period	28.36%	16.19%	+12.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.54%	22.23%	+8.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.54%	22.23%	+8.31%

FCLD vs. KROP - Expense Ratio Comparison

FCLD has a 0.39% expense ratio, which is lower than KROP's 0.50% expense ratio.

Dividends

FCLD vs. KROP - Dividend Comparison

FCLD's dividend yield for the trailing twelve months is around 0.01%, less than KROP's 2.45% yield.

Position	TTM	2025	2024	2023	2022	2021
FCLD Fidelity Cloud Computing ETF	0.01%	0.03%	0.13%	0.17%	0.26%	0.13%
KROP Global X AgTech & Food Innovation ETF	2.45%	2.73%	1.89%	1.36%	0.71%	0.69%

Frequently Asked Questions

Can I hold both FCLD and KROP in my portfolio?

FCLD and KROP have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCLD or KROP?

FCLD has higher volatility (12.64%) compared to KROP (4.54%). In terms of maximum drawdown, FCLD dropped -50.85% vs KROP's -62.08%.

Which ETF is better, FCLD or KROP?

On 3-year performance, FCLD leads with 25.90% vs -1.05% for KROP. On fees, FCLD is cheaper at 0.39% per year. On volatility, KROP has been the lower-risk option at 4.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCLD or KROP?

Over the 3-year period, FCLD has performed better with a 25.90% return vs -1.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCLD or KROP?

FCLD is cheaper with a 0.39% expense ratio, compared with 0.50% for KROP.

Which ETF pays a higher dividend yield, FCLD or KROP?

KROP has the higher dividend yield at 2.45%, compared with 0.01% for FCLD.

What is the main difference between FCLD and KROP?

FCLD tracks Fidelity Cloud Computing Index - Benchmark TR Gross, while KROP tracks Solactive AgTech & Food Innovation Index. They also come from different issuers: Fidelity and Global X. Their fees differ too: 0.39% for FCLD and 0.50% for KROP.

Which has better risk-adjusted returns?

FCLD currently has the higher Sharpe Ratio (1.31 vs 0.47), 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.