OGIG vs. SKYY

Last updated Jun 4, 2026

OGIG (O’Shares Global Internet Giants ETF) and SKYY (First Trust ISE Cloud Computing Index Fund) are both exchange-traded funds - OGIG is a Large Cap Growth Equities fund tracking the O’Shares Global Internet Giants Index, while SKYY is a Technology Equities fund tracking the ISE Cloud Computing Index. Both are passively managed. Over the past 5 years, OGIG returned -2.07%/yr vs 8.47%/yr for SKYY. Their correlation of 0.92 suggests significant overlap in exposure. OGIG charges 0.48%/yr vs 0.60%/yr for SKYY.

Performance

OGIG vs. SKYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in O’Shares Global Internet Giants ETF (OGIG) 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, OGIG achieves a -9.21% return, which is significantly lower than SKYY's 13.58% return.

OGIG

• 1D: -3.46%
• 1M: 6.90%
• YTD: -9.21%
• 6M: -10.93%
• 1Y: -6.52%
• 3Y*: 15.13%
• 5Y*: -2.07%
• 10Y*: —

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)

OGIG vs. SKYY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
OGIG O’Shares Global Internet Giants ETF	-9.21%	14.39%	25.97%	50.25%	-50.64%	-9.30%	107.92%	36.90%	-24.48%
SKYY First Trust ISE Cloud Computing Index Fund	13.58%	9.20%	35.87%	52.18%	-44.68%	10.62%	57.77%	25.25%	-10.01%

Correlation

The correlation between OGIG 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 (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 6, 2018	0.92

The correlation between OGIG and SKYY has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

OGIG vs. SKYY - Sectors Allocation Comparison

Sectors	OGIG	SKYY
Technology	54.4%	88.9%
Communication Services	26.4%	4.8%
Consumer Cyclical	16.5%	1.6%
Industrials	1.1%	1.6%
Healthcare	0.8%	1.6%
Real Estate	0.7%	-
Financial Services	0.2%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Utilities	-	-

Return for Risk

OGIG vs. SKYY — Risk / Return Rank

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

OGIG

OGIG Risk / Return Rank: 6
OGIG Sharpe Ratio Rank: 6
OGIG Sortino Ratio Rank: 6
OGIG Omega Ratio Rank: 6
OGIG Calmar Ratio Rank: 7
OGIG 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.

OGIG vs. SKYY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for O’Shares Global Internet Giants ETF (OGIG) 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.

	OGIG	SKYY	Difference
Sharpe ratio: Return per unit of total volatility	-0.30	0.95	-1.24
Sortino ratio: Return per unit of downside risk	-0.26	1.48	-1.74
Omega ratio: Gain probability vs. loss probability	0.97	1.18	-0.21
Calmar ratio: Return relative to maximum drawdown	-0.20	0.96	-1.16
Martin ratio: Return relative to average drawdown	-0.41	2.16	-2.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OGIG vs. SKYY - Sharpe Ratio Comparison

The current OGIG Sharpe Ratio is -0.30, which is lower than the SKYY Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of OGIG 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

	OGIG	SKYY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.30	0.95	-1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.07	0.28	-0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.58	-0.31

Drawdowns

OGIG vs. SKYY - Drawdown Comparison

The maximum OGIG drawdown since its inception was -66.05%, which is greater than SKYY's maximum drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for OGIG and SKYY.

Drawdown Indicators

	OGIG	SKYY	Difference
Max Drawdown Largest peak-to-trough decline	-66.05%	-53.20%	-12.85%
Max Drawdown (1Y) Largest decline over 1 year	-33.23%	-27.39%	-5.84%
Max Drawdown (3Y) Largest decline over 3 years	-33.23%	-31.80%	-1.43%
Max Drawdown (5Y) Largest decline over 5 years	-62.79%	-53.20%	-9.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-53.20%	—
Current Drawdown Current decline from peak	-24.99%	-4.79%	-20.20%
Average Drawdown Average peak-to-trough decline	-25.67%	-10.90%	-14.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.84%	12.20%	+3.64%

Volatility

OGIG vs. SKYY - Volatility Comparison

The current volatility for O’Shares Global Internet Giants ETF (OGIG) is 8.15%, while First Trust ISE Cloud Computing Index Fund (SKYY) has a volatility of 11.77%. This indicates that OGIG 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.

Volatility by Period

	OGIG	SKYY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.15%	11.77%	-3.62%
Volatility (6M) Calculated over the trailing 6-month period	18.28%	23.23%	-4.95%
Volatility (1Y) Calculated over the trailing 1-year period	22.16%	27.86%	-5.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.58%	30.58%	+1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.03%	26.85%	+4.18%

OGIG vs. SKYY - Expense Ratio Comparison

OGIG has a 0.48% expense ratio, which is lower than SKYY's 0.60% expense ratio.

Dividends

OGIG vs. SKYY - Dividend Comparison

OGIG's dividend yield for the trailing twelve months is around 0.08%, while SKYY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OGIG O’Shares Global Internet Giants ETF	0.08%	0.07%	0.00%	0.00%	0.00%	0.00%	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

Can I hold both OGIG and SKYY in my portfolio?

OGIG 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.

Which is riskier, OGIG or SKYY?

SKYY has higher volatility (11.77%) compared to OGIG (8.15%). In terms of maximum drawdown, OGIG dropped -66.05% vs SKYY's -53.20%.

Which ETF is better, OGIG or SKYY?

On 5-year performance, SKYY leads with 8.47% vs -2.07% for OGIG. On fees, OGIG is cheaper at 0.48% per year. On volatility, OGIG has been the lower-risk option at 8.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OGIG or SKYY?

Over the 5-year period, SKYY has performed better with a 8.47% return vs -2.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OGIG or SKYY?

OGIG is cheaper with a 0.48% expense ratio, compared with 0.60% for SKYY.

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

OGIG has the higher dividend yield at 0.08%, compared with 0.00% for SKYY.

What is the main difference between OGIG and SKYY?

OGIG is categorized as Large Cap Growth Equities, while SKYY is Technology Equities. OGIG tracks O’Shares Global Internet Giants Index, while SKYY tracks ISE Cloud Computing Index. They also come from different issuers: O'Shares Investments and First Trust. Their fees differ too: 0.48% for OGIG and 0.60% for SKYY.

Which has better risk-adjusted returns?

SKYY currently has the higher Sharpe Ratio (0.95 vs -0.30), 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.