IYW vs. SKYY
IYW (iShares U.S. Technology ETF) and SKYY (First Trust ISE Cloud Computing Index Fund) are both Technology Equities funds - IYW tracks the Russell 1000 Technology RIC 22.5/45 Capped Index while SKYY tracks the ISE Cloud Computing Index. Both are passively managed. Over the past 10 years, IYW returned 25.63%/yr vs 16.26%/yr for SKYY. Their correlation of 0.85 suggests significant overlap in exposure. IYW charges 0.38%/yr vs 0.60%/yr for SKYY.
Performance
IYW vs. SKYY - Performance Comparison
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Returns By Period
In the year-to-date period, IYW achieves a 22.66% return, which is significantly higher than SKYY's 3.03% return. Over the past 10 years, IYW has outperformed SKYY with an annualized return of 25.63%, while SKYY has yielded a comparatively lower 16.26% annualized return.
IYW
- 1D
- 0.61%
- 1M
- 1.73%
- YTD
- 22.66%
- 6M
- 23.40%
- 1Y
- 47.94%
- 3Y*
- 32.06%
- 5Y*
- 21.19%
- 10Y*
- 25.63%
SKYY
- 1D
- 0.18%
- 1M
- 6.69%
- YTD
- 3.03%
- 6M
- 1.79%
- 1Y
- 13.95%
- 3Y*
- 20.38%
- 5Y*
- 5.69%
- 10Y*
- 16.26%
IYW vs. SKYY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 22.66% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
SKYY First Trust ISE Cloud Computing Index Fund | 3.03% | 9.20% | 35.87% | 52.18% | -44.68% | 10.62% | 57.77% | 25.25% | 6.01% | 33.47% |
Correlation
The correlation between IYW and SKYY is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2011 | 0.85 |
The correlation between IYW and SKYY shifts across timeframes, from 0.72 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IYW vs. SKYY — Risk / Return Rank
IYW
SKYY
IYW vs. SKYY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) 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.
| IYW | SKYY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.11 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 0.51 | +2.19 |
| Martin ratioReturn relative to average drawdown | 8.68 | 1.13 | +7.55 |
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Drawdowns
IYW vs. SKYY - Drawdown Comparison
The maximum IYW drawdown since its inception was -81.90%, which is greater than SKYY's maximum drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for IYW and SKYY.
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Drawdown Indicators
| IYW | SKYY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.90% | -53.20% | -28.70% |
Max Drawdown (1Y)Largest decline over 1 year | -17.81% | -27.39% | +9.58% |
Max Drawdown (3Y)Largest decline over 3 years | -26.47% | -31.80% | +5.33% |
Max Drawdown (5Y)Largest decline over 5 years | -39.44% | -53.20% | +13.76% |
Max Drawdown (10Y)Largest decline over 10 years | -39.44% | -53.20% | +13.76% |
Current DrawdownCurrent decline from peak | -5.81% | -13.63% | +7.82% |
Average DrawdownAverage peak-to-trough decline | -34.62% | -10.90% | -23.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.54% | 12.34% | -6.80% |
Volatility
IYW vs. SKYY - Volatility Comparison
The current volatility for iShares U.S. Technology ETF (IYW) is 9.41%, while First Trust ISE Cloud Computing Index Fund (SKYY) has a volatility of 13.09%. This indicates that IYW 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
| IYW | SKYY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.41% | 13.09% | -3.68% |
Volatility (6M)Calculated over the trailing 6-month period | 17.67% | 23.88% | -6.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.47% | 28.45% | -6.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.07% | 30.67% | -4.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.20% | 26.90% | -1.70% |
IYW vs. SKYY - Expense Ratio Comparison
IYW has a 0.38% expense ratio, which is lower than SKYY's 0.60% expense ratio.
Dividends
IYW vs. SKYY - Dividend Comparison
IYW's dividend yield for the trailing twelve months is around 0.11%, while SKYY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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
IYW and SKYY have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SKYY has higher volatility (13.09%) compared to IYW (9.41%). In terms of maximum drawdown, IYW dropped -81.90% vs SKYY's -53.20%.
On 10-year performance, IYW leads with 25.63% vs 16.26% for SKYY. On fees, IYW is cheaper at 0.38% per year. On volatility, IYW has been the lower-risk option at 9.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 25.63% return vs 16.26%. 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 0.60% for SKYY.
IYW has the higher dividend yield at 0.11%, compared with 0.00% for SKYY.
IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index, while SKYY tracks ISE Cloud Computing Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.38% for IYW and 0.60% for SKYY.
IYW currently has the higher Sharpe Ratio (2.24 vs 0.49), 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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