GGME vs. FCLD
GGME (Invesco Next Gen Media and Gaming ETF) and FCLD (Fidelity Cloud Computing ETF) are both Technology Equities funds - GGME tracks the STOXX World AC NexGen Media Index - Benchmark TR Gross while FCLD tracks the Fidelity Cloud Computing Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, GGME returned 18.70%/yr vs 24.29%/yr for FCLD. Their 0.78 correlation means they have sometimes moved together and sometimes differently. GGME charges 0.60%/yr vs 0.39%/yr for FCLD.
Performance
GGME vs. FCLD - Performance Comparison
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Returns By Period
In the year-to-date period, GGME achieves a 1.32% return, which is significantly lower than FCLD's 33.66% return.
GGME
- 1D
- -1.68%
- 1M
- -0.65%
- 6M
- 7.73%
- YTD
- 1.32%
- 1Y
- -0.42%
- 3Y*
- 18.70%
- 5Y*
- 3.29%
- 10Y*
- 9.85%
- ALL TIME*
- 7.48%
FCLD
- 1D
- 1.33%
- 1M
- 4.17%
- 6M
- 35.89%
- YTD
- 33.66%
- 1Y
- 45.67%
- 3Y*
- 24.29%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $599.13K | $567.95K | $795.73K | |
| $77.20K | $185.55K | $134.81K |
GGME vs. FCLD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GGME Invesco Next Gen Media and Gaming ETF | 1.32% | 16.39% | 32.67% | 23.76% | -36.43% | -6.22% |
FCLD Fidelity Cloud Computing ETF | 33.66% | 8.19% | 21.80% | 53.05% | -41.32% | -1.59% |
Correlation
The correlation between GGME and FCLD is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.70 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2021 | 0.78 |
The correlation between GGME and FCLD has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.
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Return for Risk
GGME vs. FCLD — Risk / Return Rank
GGME
FCLD
GGME vs. FCLD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Next Gen Media and Gaming ETF (GGME) and Fidelity Cloud Computing ETF (FCLD). 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.
| GGME | FCLD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.23 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 2.28 | -2.36 |
| Martin ratioReturn relative to average drawdown | -0.19 | 5.48 | -5.67 |
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Drawdowns
GGME vs. FCLD - Drawdown Comparison
The maximum GGME drawdown since its inception was -69.13%, which is greater than FCLD's maximum drawdown of -50.85%. Use the drawdown chart below to compare losses from any high point for GGME and FCLD.
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Drawdown Indicators
| GGME | FCLD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.13% | -50.85% | -18.28% |
Max Drawdown (1Y)Largest decline over 1 year | -25.23% | -17.48% | -7.75% |
Max Drawdown (3Y)Largest decline over 3 years | -25.23% | -34.80% | +9.57% |
Max Drawdown (5Y)Largest decline over 5 years | -44.72% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.35% | — | — |
Current DrawdownCurrent decline from peak | -8.44% | -4.65% | -3.79% |
Average DrawdownAverage peak-to-trough decline | -14.49% | -20.08% | +5.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.66% | 7.31% | +4.35% |
Volatility
GGME vs. FCLD - Volatility Comparison
The current volatility for Invesco Next Gen Media and Gaming ETF (GGME) is 4.48%, while Fidelity Cloud Computing ETF (FCLD) has a volatility of 6.98%. This indicates that GGME experiences smaller price fluctuations and is considered to be less risky than FCLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GGME | FCLD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.48% | 6.98% | -2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 16.42% | 22.27% | -5.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.97% | 28.80% | -8.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.32% | 30.39% | -6.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.21% | 30.39% | -7.18% |
GGME vs. FCLD - Expense Ratio Comparison
GGME has a 0.60% expense ratio, which is higher than FCLD's 0.39% expense ratio.
Dividends
GGME vs. FCLD - Dividend Comparison
GGME's dividend yield for the trailing twelve months is around 0.02%, more than FCLD's 0.01% yield.
| 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% |
GGME Invesco Next Gen Media and Gaming ETF | 0.02% | 0.17% | 0.08% | 2.31% | 0.76% | 0.39% | 0.38% | 0.50% | 0.93% | 0.33% | 0.16% | 1.11% |
Frequently Asked Questions
GGME and FCLD have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCLD has higher volatility (6.98%) compared to GGME (4.48%). In terms of maximum drawdown, GGME dropped -69.13% vs FCLD's -50.85%.
On 3-year performance, FCLD leads with 24.29% vs 18.70% for GGME. On fees, FCLD is cheaper at 0.39% per year. On volatility, GGME has been the lower-risk option at 4.48%. 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 24.29% return vs 18.70%. 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 GGME.
GGME has the higher dividend yield at 0.02%, compared with 0.01% for FCLD.
GGME tracks STOXX World AC NexGen Media Index - Benchmark TR Gross, while FCLD tracks Fidelity Cloud Computing Index - Benchmark TR Gross. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.60% for GGME and 0.39% for FCLD.
FCLD currently has the higher Sharpe Ratio (1.38 vs -0.11), 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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