FCLD vs. SKYY
FCLD (Fidelity Cloud Computing ETF) and SKYY (First Trust ISE Cloud Computing Index Fund) are both Technology Equities funds - FCLD tracks the Fidelity Cloud Computing Index - Benchmark TR Gross while SKYY tracks the ISE Cloud Computing Index. Both are passively managed. Over the past 3 years, FCLD returned 26.51%/yr vs 20.61%/yr for SKYY. Their correlation of 0.94 suggests significant overlap in exposure. FCLD charges 0.39%/yr vs 0.60%/yr for SKYY.
Performance
FCLD vs. SKYY - Performance Comparison
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Returns By Period
In the year-to-date period, FCLD achieves a 28.34% return, which is significantly higher than SKYY's -0.42% return.
FCLD
- 1D
- -0.79%
- 1M
- 6.91%
- YTD
- 28.34%
- 6M
- 25.80%
- 1Y
- 40.03%
- 3Y*
- 26.51%
- 5Y*
- —
- 10Y*
- —
SKYY
- 1D
- -1.77%
- 1M
- -2.62%
- YTD
- -0.42%
- 6M
- -2.85%
- 1Y
- 12.89%
- 3Y*
- 20.61%
- 5Y*
- 4.44%
- 10Y*
- 16.19%
FCLD vs. SKYY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FCLD Fidelity Cloud Computing ETF | 28.34% | 8.19% | 21.80% | 53.05% | -41.32% | -1.59% |
SKYY First Trust ISE Cloud Computing Index Fund | -0.42% | 9.20% | 35.87% | 52.18% | -44.68% | -1.47% |
Correlation
The correlation between FCLD and SKYY is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2021 | 0.94 |
The correlation between FCLD and SKYY has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.
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Return for Risk
FCLD vs. SKYY — Risk / Return Rank
FCLD
SKYY
FCLD vs. SKYY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Cloud Computing ETF (FCLD) 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.
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 | SKYY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.10 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 0.47 | +1.83 |
| Martin ratioReturn relative to average drawdown | 5.80 | 1.03 | +4.77 |
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Drawdowns
FCLD vs. SKYY - Drawdown Comparison
The maximum FCLD drawdown since its inception was -50.85%, roughly equal to the maximum SKYY drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for FCLD and SKYY.
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Drawdown Indicators
| FCLD | SKYY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.85% | -53.20% | +2.35% |
Max Drawdown (1Y)Largest decline over 1 year | -17.48% | -27.39% | +9.91% |
Max Drawdown (3Y)Largest decline over 3 years | -34.80% | -31.80% | -3.00% |
Max Drawdown (5Y)Largest decline over 5 years | — | -53.20% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -53.20% | — |
Current DrawdownCurrent decline from peak | -8.44% | -16.52% | +8.08% |
Average DrawdownAverage peak-to-trough decline | -20.37% | -10.90% | -9.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.92% | 12.50% | -5.58% |
Volatility
FCLD vs. SKYY - Volatility Comparison
The current volatility for Fidelity Cloud Computing ETF (FCLD) is 12.51%, while First Trust ISE Cloud Computing Index Fund (SKYY) has a volatility of 13.52%. This indicates that FCLD experiences smaller price fluctuations and is considered to be less risky than SKYY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCLD | SKYY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.51% | 13.52% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 22.97% | 23.98% | -1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.37% | 28.63% | -0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.55% | 30.73% | -0.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.55% | 26.94% | +3.61% |
FCLD vs. SKYY - Expense Ratio Comparison
FCLD has a 0.39% expense ratio, which is lower than SKYY's 0.60% expense ratio.
Dividends
FCLD vs. SKYY - Dividend Comparison
FCLD's dividend yield for the trailing twelve months is around 0.01%, while SKYY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCLD Fidelity Cloud Computing ETF | 0.01% | 0.03% | 0.13% | 0.17% | 0.26% | 0.13% | 0.00% | 0.00% | 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% |
Frequently Asked Questions
FCLD and SKYY have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SKYY has higher volatility (13.52%) compared to FCLD (12.51%). In terms of maximum drawdown, FCLD dropped -50.85% vs SKYY's -53.20%.
On 3-year performance, FCLD leads with 26.51% vs 20.61% for SKYY. On fees, FCLD is cheaper at 0.39% per year. On volatility, FCLD has been the lower-risk option at 12.51%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FCLD has performed better with a 26.51% return vs 20.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FCLD is cheaper with a 0.39% expense ratio, compared with 0.60% for SKYY.
FCLD has the higher dividend yield at 0.01%, compared with 0.00% for SKYY.
FCLD tracks Fidelity Cloud Computing Index - Benchmark TR Gross, while SKYY tracks ISE Cloud Computing Index. They also come from different issuers: Fidelity and First Trust. Their fees differ too: 0.39% for FCLD and 0.60% for SKYY.
FCLD currently has the higher Sharpe Ratio (1.42 vs 0.45), 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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