SKYE.AS vs. WTCH.AS

Last updated Jun 5, 2026

SKYE.AS (First Trust Cloud Computing UCITS ETF) and WTCH.AS (SPDR MSCI World Technology UCITS ETF) are both Technology Equities funds tracking the MSCI World/Information Tech NR USD, from First Trust and State Street respectively. Both are passively managed. Over the past 5 years, SKYE.AS returned 9.62%/yr vs 22.49%/yr for WTCH.AS. A 0.76 correlation means they provide meaningful diversification when combined. SKYE.AS charges 0.60%/yr vs 0.30%/yr for WTCH.AS.

Performance

SKYE.AS vs. WTCH.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in First Trust Cloud Computing UCITS ETF (SKYE.AS) and SPDR MSCI World Technology UCITS ETF (WTCH.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKYE.AS achieves a 15.11% return, which is significantly lower than WTCH.AS's 25.44% return.

SKYE.AS

• 1D: 0.45%
• 1M: 15.58%
• YTD: 15.11%
• 6M: 14.77%
• 1Y: 24.89%
• 3Y*: 22.35%
• 5Y*: 9.62%
• 10Y*: —

WTCH.AS

• 1D: -1.95%
• 1M: 14.84%
• YTD: 25.44%
• 6M: 23.94%
• 1Y: 48.66%
• 3Y*: 29.25%
• 5Y*: 22.49%
• 10Y*: 23.98%

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

SKYE.AS vs. WTCH.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SKYE.AS First Trust Cloud Computing UCITS ETF	15.11%	-3.90%	46.43%	47.67%	-42.36%	20.22%	45.33%	9.54%
WTCH.AS SPDR MSCI World Technology UCITS ETF	25.44%	8.41%	43.39%	49.09%	-27.66%	40.88%	31.79%	31.92%

Correlation

The correlation between SKYE.AS and WTCH.AS is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Feb 14, 2019	0.76

The correlation between SKYE.AS and WTCH.AS has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.

Return for Risk

SKYE.AS vs. WTCH.AS — Risk / Return Rank

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

SKYE.AS

SKYE.AS Risk / Return Rank: 23
SKYE.AS Sharpe Ratio Rank: 25
SKYE.AS Sortino Ratio Rank: 25
SKYE.AS Omega Ratio Rank: 27
SKYE.AS Calmar Ratio Rank: 21
SKYE.AS Martin Ratio Rank: 18

WTCH.AS

WTCH.AS Risk / Return Rank: 64
WTCH.AS Sharpe Ratio Rank: 74
WTCH.AS Sortino Ratio Rank: 68
WTCH.AS Omega Ratio Rank: 65
WTCH.AS Calmar Ratio Rank: 63
WTCH.AS Martin Ratio Rank: 49

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.

SKYE.AS vs. WTCH.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Cloud Computing UCITS ETF (SKYE.AS) and SPDR MSCI World Technology UCITS ETF (WTCH.AS). 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.

	SKYE.AS	WTCH.AS	Difference
Sharpe ratio: Return per unit of total volatility	0.87	2.37	-1.50
Sortino ratio: Return per unit of downside risk	1.35	3.09	-1.74
Omega ratio: Gain probability vs. loss probability	1.17	1.39	-0.21
Calmar ratio: Return relative to maximum drawdown	0.88	3.06	-2.18
Martin ratio: Return relative to average drawdown	1.94	8.10	-6.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SKYE.AS vs. WTCH.AS - Sharpe Ratio Comparison

The current SKYE.AS Sharpe Ratio is 0.87, which is lower than the WTCH.AS Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of SKYE.AS and WTCH.AS, 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

	SKYE.AS	WTCH.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	2.37	-1.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.99	-0.66
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	1.15	-0.63

Drawdowns

SKYE.AS vs. WTCH.AS - Drawdown Comparison

The maximum SKYE.AS drawdown since its inception was -49.60%, which is greater than WTCH.AS's maximum drawdown of -31.28%. Use the drawdown chart below to compare losses from any high point for SKYE.AS and WTCH.AS.

Drawdown Indicators

	SKYE.AS	WTCH.AS	Difference
Max Drawdown Largest peak-to-trough decline	-49.60%	-31.28%	-18.32%
Max Drawdown (1Y) Largest decline over 1 year	-27.79%	-15.67%	-12.12%
Max Drawdown (3Y) Largest decline over 3 years	-36.27%	-30.06%	-6.21%
Max Drawdown (5Y) Largest decline over 5 years	-49.60%	-30.06%	-19.54%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.28%	—
Current Drawdown Current decline from peak	-2.74%	-2.46%	-0.28%
Average Drawdown Average peak-to-trough decline	-17.17%	-5.89%	-11.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.70%	5.96%	+6.74%

Volatility

SKYE.AS vs. WTCH.AS - Volatility Comparison

First Trust Cloud Computing UCITS ETF (SKYE.AS) has a higher volatility of 11.46% compared to SPDR MSCI World Technology UCITS ETF (WTCH.AS) at 7.02%. This indicates that SKYE.AS's price experiences larger fluctuations and is considered to be riskier than WTCH.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYE.AS	WTCH.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.46%	7.02%	+4.44%
Volatility (6M) Calculated over the trailing 6-month period	23.69%	14.82%	+8.87%
Volatility (1Y) Calculated over the trailing 1-year period	28.38%	20.28%	+8.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.97%	22.45%	+6.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.81%	21.39%	+7.42%

SKYE.AS vs. WTCH.AS - Expense Ratio Comparison

SKYE.AS has a 0.60% expense ratio, which is higher than WTCH.AS's 0.30% expense ratio.

Dividends

SKYE.AS vs. WTCH.AS - Dividend Comparison

Neither SKYE.AS nor WTCH.AS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SKYE.AS and WTCH.AS in my portfolio?

SKYE.AS and WTCH.AS have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SKYE.AS or WTCH.AS?

On fees, WTCH.AS is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SKYE.AS or WTCH.AS?

WTCH.AS is cheaper with a 0.30% expense ratio, compared with 0.60% for SKYE.AS.

What is the main difference between SKYE.AS and WTCH.AS?

Both ETFs track MSCI World/Information Tech NR USD. They also come from different issuers: First Trust and State Street. Their fees differ too: 0.60% for SKYE.AS and 0.30% for WTCH.AS.