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SKYU.L vs. FSKY.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SKYU.L vs. FSKY.L

Last updated Jul 16, 2026
Documentation

SKYU.L (First Trust Cloud Computing UCITS ETF Class A USD Accumulation) and FSKY.L (First Trust Cloud Computing UCITS ETF Class A USD Accumulation) are both Technology Equities funds from First Trust - SKYU.L tracks the First Trust Cloud Computing UCITS ETF Class A USD Accumulation while FSKY.L tracks the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 5 years, SKYU.L returned 5.97%/yr vs 6.05%/yr for FSKY.L. With a 0.96 correlation, they move nearly in lockstep.

Performance

SKYU.L vs. FSKY.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Cloud Computing UCITS ETF Class A USD Accumulation (SKYU.L) and First Trust Cloud Computing UCITS ETF Class A USD Accumulation (FSKY.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

SKYU.L is traded in USD, while FSKY.L is traded in GBp. To make them comparable, the FSKY.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with SKYU.L having a 4.89% return and FSKY.L slightly higher at 5.01%.

SKYU.L

1D
0.00%
1M
-0.09%
6M
8.11%
YTD
4.89%
1Y
14.00%
3Y*
19.89%
5Y*
5.97%
10Y*
—

FSKY.L

1D
-1.35%
1M
0.12%
6M
8.56%
YTD
5.01%
1Y
14.39%
3Y*
20.20%
5Y*
6.05%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SKYU.L vs. FSKY.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
SKYU.L
First Trust Cloud Computing UCITS ETF Class A USD Accumulation		4.89%8.43%35.93%55.30%-45.68%10.94%59.18%24.43%0.74%
FSKY.L
First Trust Cloud Computing UCITS ETF Class A USD Accumulation		5.01%8.68%35.53%54.88%-45.71%11.27%58.74%23.39%-19.37%

Correlation

The correlation between SKYU.L and FSKY.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.96

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

0.95

Correlation (5Y)
Calculated over the trailing 5-year period

0.96

Correlation (All Time)
Calculated using the full available price history since Dec 27, 2018

0.96

The correlation between SKYU.L and FSKY.L has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

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First Trust Cloud Computing UCITS ETF Class A USD Accumulation

First Trust Cloud Computing UCITS ETF Class A USD Accumulation

Often compared with FSKY.L:
FSKY.L vs. FCBR.LFSKY.L vs. SPYFSKY.L vs. IITU.LFSKY.L vs. ESPOFSKY.L vs. FCSG.LFSKY.L vs. QCLN.LFSKY.L vs. CAPS.L

Return for Risk

SKYU.L vs. FSKY.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SKYU.L
SKYU.L Risk / Return Rank: 1818
Overall Rank
SKYU.L Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
SKYU.L Sortino Ratio Rank: 1919
Sortino Ratio Rank
SKYU.L Omega Ratio Rank: 1919
Omega Ratio Rank
SKYU.L Calmar Ratio Rank: 1717
Calmar Ratio Rank
SKYU.L Martin Ratio Rank: 1616
Martin Ratio Rank
FSKY.L
FSKY.L Risk / Return Rank: 1717
Overall Rank
FSKY.L Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
FSKY.L Sortino Ratio Rank: 1818
Sortino Ratio Rank
FSKY.L Omega Ratio Rank: 1818
Omega Ratio Rank
FSKY.L Calmar Ratio Rank: 1515
Calmar Ratio Rank
FSKY.L Martin Ratio Rank: 1414
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.

SKYU.L vs. FSKY.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Cloud Computing UCITS ETF Class A USD Accumulation (SKYU.L) and First Trust Cloud Computing UCITS ETF Class A USD Accumulation (FSKY.L). 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.

SKYU.LFSKY.LDifference
Sharpe ratioReturn per unit of total volatility
0.50
0.48

+0.01

Sortino ratioReturn per unit of downside risk
0.89
0.87

+0.02

Omega ratioGain probability vs. loss probability

1.11

1.11

0.00

Calmar ratioReturn relative to maximum drawdown

0.55

0.54

+0.01

Martin ratioReturn relative to average drawdown

1.17

1.15

+0.03

SKYU.L vs. FSKY.L - Sharpe Ratio Comparison

The current SKYU.L Sharpe Ratio is 0.50, which is comparable to the FSKY.L Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of SKYU.L and FSKY.L, 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

SKYU.L vs. FSKY.L - Drawdown Comparison

The maximum SKYU.L drawdown since its inception was -53.12%, roughly equal to the maximum FSKY.L drawdown of -53.28%. Use the drawdown chart below to compare losses from any high point for SKYU.L and FSKY.L.

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Drawdown Indicators

SKYU.LFSKY.LDifference

Max Drawdown

Largest peak-to-trough decline

-53.12%

-53.28%

+0.16%

Max Drawdown (1Y)

Largest decline over 1 year

-26.70%

-26.50%

-0.20%

Max Drawdown (3Y)

Largest decline over 3 years

-31.91%

-32.18%

+0.27%

Max Drawdown (5Y)

Largest decline over 5 years

-53.12%

-53.28%

+0.16%

Current Drawdown

Current decline from peak

-10.40%

-10.56%

+0.16%

Average Drawdown

Average peak-to-trough decline

-16.78%

-17.13%

+0.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.59%

12.53%

+0.06%

Volatility

SKYU.L vs. FSKY.L - Volatility Comparison

First Trust Cloud Computing UCITS ETF Class A USD Accumulation (SKYU.L) has a higher volatility of 8.74% compared to First Trust Cloud Computing UCITS ETF Class A USD Accumulation (FSKY.L) at 8.18%. This indicates that SKYU.L's price experiences larger fluctuations and is considered to be riskier than FSKY.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SKYU.LFSKY.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.74%

8.18%

+0.56%

Volatility (6M)

Calculated over the trailing 6-month period

25.52%

25.10%

+0.42%

Volatility (1Y)

Calculated over the trailing 1-year period

29.72%

29.58%

+0.14%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

30.13%

32.42%

-2.29%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.55%

31.23%

-2.68%

Dividends

SKYU.L vs. FSKY.L - Dividend Comparison

Neither SKYU.L nor FSKY.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

With a correlation of 0.96, SKYU.L and FSKY.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

SKYU.L tracks First Trust Cloud Computing UCITS ETF Class A USD Accumulation, while FSKY.L tracks MSCI World/Information Tech NR USD.

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