IGV vs. SKYY

Last updated Jun 4, 2026

IGV (iShares Expanded Tech-Software Sector ET) and SKYY (First Trust ISE Cloud Computing Index Fund) are both Technology Equities funds - IGV tracks the S&P North American Technology-Software Index while SKYY tracks the ISE Cloud Computing Index. Both are passively managed. Over the past 10 years, IGV returned 16.89%/yr vs 17.20%/yr for SKYY. Their correlation of 0.92 suggests significant overlap in exposure. IGV charges 0.46%/yr vs 0.60%/yr for SKYY.

Performance

IGV vs. SKYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Expanded Tech-Software Sector ET (IGV) and First Trust ISE Cloud Computing Index Fund (SKYY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IGV achieves a -5.19% return, which is significantly lower than SKYY's 13.58% return. Both investments have delivered pretty close results over the past 10 years, with IGV having a 16.89% annualized return and SKYY not far ahead at 17.20%.

IGV

• 1D: -4.33%
• 1M: 13.30%
• YTD: -5.19%
• 6M: -6.07%
• 1Y: -4.56%
• 3Y*: 14.91%
• 5Y*: 6.80%
• 10Y*: 16.89%

SKYY

• 1D: -3.49%
• 1M: 16.66%
• YTD: 13.58%
• 6M: 12.79%
• 1Y: 26.22%
• 3Y*: 25.41%
• 5Y*: 8.47%
• 10Y*: 17.20%

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

IGV vs. SKYY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IGV iShares Expanded Tech-Software Sector ET	-5.19%	5.56%	23.41%	58.56%	-35.65%	12.30%	52.86%	34.33%	12.44%	42.16%
SKYY First Trust ISE Cloud Computing Index Fund	13.58%	9.20%	35.87%	52.18%	-44.68%	10.62%	57.77%	25.25%	6.01%	33.47%

Correlation

The correlation between IGV and SKYY is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jul 7, 2011	0.92

The correlation between IGV and SKYY has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

IGV vs. SKYY - Sectors Allocation Comparison

Sectors	IGV	SKYY
Technology	89.2%	88.9%
Communication Services	8.6%	4.8%
Financial Services	1.8%	-
Consumer Cyclical	0.3%	1.6%
Industrials	0.2%	1.6%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	1.6%
Real Estate	-	-
Utilities	-	-

Return for Risk

IGV vs. SKYY — Risk / Return Rank

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

IGV

IGV Risk / Return Rank: 7
IGV Sharpe Ratio Rank: 7
IGV Sortino Ratio Rank: 7
IGV Omega Ratio Rank: 7
IGV Calmar Ratio Rank: 7
IGV Martin Ratio Rank: 7

SKYY

SKYY Risk / Return Rank: 24
SKYY Sharpe Ratio Rank: 26
SKYY Sortino Ratio Rank: 26
SKYY Omega Ratio Rank: 26
SKYY Calmar Ratio Rank: 21
SKYY Martin Ratio Rank: 19

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.

IGV vs. SKYY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Expanded Tech-Software Sector ET (IGV) 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.

	IGV	SKYY	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	0.95	-1.11
Sortino ratio: Return per unit of downside risk	-0.04	1.48	-1.52
Omega ratio: Gain probability vs. loss probability	0.99	1.18	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.13	0.96	-1.09
Martin ratio: Return relative to average drawdown	-0.27	2.16	-2.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IGV vs. SKYY - Sharpe Ratio Comparison

The current IGV Sharpe Ratio is -0.17, which is lower than the SKYY Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of IGV and SKYY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IGV	SKYY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.17	0.95	-1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.28	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.64	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.58	-0.22

Drawdowns

IGV vs. SKYY - Drawdown Comparison

The maximum IGV drawdown since its inception was -63.45%, which is greater than SKYY's maximum drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for IGV and SKYY.

Drawdown Indicators

	IGV	SKYY	Difference
Max Drawdown Largest peak-to-trough decline	-63.45%	-53.20%	-10.25%
Max Drawdown (1Y) Largest decline over 1 year	-36.61%	-27.39%	-9.22%
Max Drawdown (3Y) Largest decline over 3 years	-36.61%	-31.80%	-4.81%
Max Drawdown (5Y) Largest decline over 5 years	-45.85%	-53.20%	+7.35%
Max Drawdown (10Y) Largest decline over 10 years	-45.85%	-53.20%	+7.35%
Current Drawdown Current decline from peak	-14.93%	-4.79%	-10.14%
Average Drawdown Average peak-to-trough decline	-14.44%	-10.90%	-3.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.22%	12.20%	+5.02%

Volatility

IGV vs. SKYY - Volatility Comparison

iShares Expanded Tech-Software Sector ET (IGV) and First Trust ISE Cloud Computing Index Fund (SKYY) have volatilities of 11.63% and 11.77%, 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

	IGV	SKYY	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.63%	11.77%	-0.14%
Volatility (6M) Calculated over the trailing 6-month period	24.39%	23.23%	+1.16%
Volatility (1Y) Calculated over the trailing 1-year period	27.61%	27.86%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.86%	30.58%	-2.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.35%	26.85%	-0.50%

IGV vs. SKYY - Expense Ratio Comparison

IGV has a 0.46% expense ratio, which is lower than SKYY's 0.60% expense ratio.

Dividends

IGV vs. SKYY - Dividend Comparison

Neither IGV nor SKYY has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IGV iShares Expanded Tech-Software Sector ET	0.00%	0.00%	0.00%	0.01%	0.01%	0.00%	0.35%	0.02%	0.16%	0.09%	0.82%	0.22%
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

Can I hold both IGV and SKYY in my portfolio?

IGV and SKYY have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IGV or SKYY?

SKYY has higher volatility (11.77%) compared to IGV (11.63%). In terms of maximum drawdown, IGV dropped -63.45% vs SKYY's -53.20%.

Which ETF is better, IGV or SKYY?

On 10-year performance, SKYY leads with 17.20% vs 16.89% for IGV. On fees, IGV is cheaper at 0.46% per year. On volatility, IGV has been the lower-risk option at 11.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IGV or SKYY?

Over the 10-year period, SKYY has performed better with a 17.20% return vs 16.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IGV or SKYY?

IGV is cheaper with a 0.46% expense ratio, compared with 0.60% for SKYY.

Which ETF pays a higher dividend yield, IGV or SKYY?

IGV and SKYY have nearly identical dividend yields, around 0.00%.

What is the main difference between IGV and SKYY?

IGV tracks S&P North American Technology-Software Index, while SKYY tracks ISE Cloud Computing Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.46% for IGV and 0.60% for SKYY.

Which has better risk-adjusted returns?

SKYY currently has the higher Sharpe Ratio (0.95 vs -0.17), 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.