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RKLB vs. SKYY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RKLB vs. SKYY

Last updated Jun 13, 2026

RKLB (Rocket Lab USA, Inc.) is a stock, while SKYY (First Trust ISE Cloud Computing Index Fund) is Technology Equities fund tracking the ISE Cloud Computing Index. Over the past 3 years, RKLB returned 158.32%/yr vs 20.38%/yr for SKYY. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

RKLB vs. SKYY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rocket Lab USA, Inc. (RKLB) and First Trust ISE Cloud Computing Index Fund (SKYY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, RKLB achieves a 46.77% return, which is significantly higher than SKYY's 3.03% return.

RKLB

1D
-10.79%
1M
-17.53%
YTD
46.77%
6M
66.51%
1Y
287.84%
3Y*
158.32%
5Y*
—
10Y*
—

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

RKLB vs. SKYY - Yearly Performance Comparison

2026 (YTD)20252024202320222021
RKLB
Rocket Lab USA, Inc.		46.77%173.89%360.58%46.68%-69.30%8.67%
SKYY
First Trust ISE Cloud Computing Index Fund		3.03%9.20%35.87%52.18%-44.68%-1.26%

Correlation

The correlation between RKLB and SKYY is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

Correlation (3Y)
Calculated over the trailing 3-year period

0.47

Correlation (All Time)
Calculated using the full available price history since Aug 24, 2021

0.51

The correlation between RKLB and SKYY shifts across timeframes, from 0.36 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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Rocket Lab USA, Inc.

First Trust ISE Cloud Computing Index Fund

Often compared with RKLB:
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Often compared with SKYY:
SKYY vs. CLOUSKYY vs. WCLDSKYY vs. FCLDSKYY vs. CIBRSKYY vs. QQQSKYY vs. IVESSKYY vs. VOO

Return for Risk

RKLB vs. SKYY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RKLB
RKLB Risk / Return Rank: 9393
Overall Rank
RKLB Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
RKLB Sortino Ratio Rank: 9191
Sortino Ratio Rank
RKLB Omega Ratio Rank: 8888
Omega Ratio Rank
RKLB Calmar Ratio Rank: 9595
Calmar Ratio Rank
RKLB Martin Ratio Rank: 9494
Martin Ratio Rank
SKYY
SKYY Risk / Return Rank: 1717
Overall Rank
SKYY Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
SKYY Sortino Ratio Rank: 1919
Sortino Ratio Rank
SKYY Omega Ratio Rank: 1818
Omega Ratio Rank
SKYY Calmar Ratio Rank: 1616
Calmar Ratio Rank
SKYY Martin Ratio Rank: 1515
Martin Ratio Rank
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.

RKLB vs. SKYY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rocket Lab USA, Inc. (RKLB) 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.

RKLBSKYYDifference
Sharpe ratioReturn per unit of total volatility
3.12
0.49

+2.63

Sortino ratioReturn per unit of downside risk
3.13
0.89

+2.25

Omega ratioGain probability vs. loss probability

1.38

1.11

+0.27

Calmar ratioReturn relative to maximum drawdown

6.74

0.51

+6.23

Martin ratioReturn relative to average drawdown

15.44

1.13

+14.30

RKLB vs. SKYY - Sharpe Ratio Comparison

The current RKLB Sharpe Ratio is 3.12, which is higher than the SKYY Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of RKLB 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.

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Drawdowns

RKLB vs. SKYY - Drawdown Comparison

The maximum RKLB drawdown since its inception was -82.96%, which is greater than SKYY's maximum drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for RKLB and SKYY.

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Drawdown Indicators

RKLBSKYYDifference

Max Drawdown

Largest peak-to-trough decline

-82.96%

-53.20%

-29.76%

Max Drawdown (1Y)

Largest decline over 1 year

-43.01%

-27.39%

-15.62%

Max Drawdown (3Y)

Largest decline over 3 years

-55.49%

-31.80%

-23.69%

Max Drawdown (5Y)

Largest decline over 5 years

—

-53.20%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-53.20%

—

Current Drawdown

Current decline from peak

-31.84%

-13.63%

-18.21%

Average Drawdown

Average peak-to-trough decline

-51.29%

-10.90%

-40.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

18.75%

12.34%

+6.41%

Volatility

RKLB vs. SKYY - Volatility Comparison

Rocket Lab USA, Inc. (RKLB) has a higher volatility of 31.54% compared to First Trust ISE Cloud Computing Index Fund (SKYY) at 13.09%. This indicates that RKLB's price experiences larger fluctuations and is considered to be riskier 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

RKLBSKYYDifference

Volatility (1M)

Calculated over the trailing 1-month period

31.54%

13.09%

+18.45%

Volatility (6M)

Calculated over the trailing 6-month period

73.47%

23.88%

+49.59%

Volatility (1Y)

Calculated over the trailing 1-year period

93.03%

28.45%

+64.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

81.62%

30.67%

+50.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

81.62%

26.90%

+54.72%

Dividends

RKLB vs. SKYY - Dividend Comparison

Neither RKLB nor SKYY has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
RKLB
Rocket Lab USA, Inc.		0.00%0.00%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

RKLB and SKYY have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

RKLB has higher volatility (31.54%) compared to SKYY (13.09%). In terms of maximum drawdown, RKLB dropped -82.96% vs SKYY's -53.20%.

RKLB currently has the higher Sharpe Ratio (3.12 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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