SKYU.L vs. XLKQ.L

Last updated Jul 16, 2026

SKYU.L (First Trust Cloud Computing UCITS ETF Class A USD Accumulation) and XLKQ.L (Invesco Technology S&P US Select Sector UCITS ETF GBP Acc) are both Technology Equities funds - SKYU.L tracks the First Trust Cloud Computing UCITS ETF Class A USD Accumulation while XLKQ.L tracks the S&P Select Sector Capped 20% Technology Index. Both are passively managed. Over the past 5 years, SKYU.L returned 5.97%/yr vs 22.29%/yr for XLKQ.L. A 0.74 correlation means they provide meaningful diversification when combined.

Performance

SKYU.L vs. XLKQ.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 Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, SKYU.L achieves a 4.89% return, which is significantly lower than XLKQ.L's 17.97% return.

SKYU.L

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

XLKQ.L

• 1D: -0.46%
• 1M: -2.56%
• 6M: 20.54%
• YTD: 17.97%
• 1Y: 32.89%
• 3Y*: 31.49%
• 5Y*: 22.29%
• 10Y*: 25.44%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
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%
XLKQ.L Invesco Technology S&P US Select Sector UCITS ETF GBP Acc	17.97%	24.49%	41.63%	59.85%	-29.07%	35.05%	42.15%	50.17%	4.74%

Correlation

The correlation between SKYU.L and XLKQ.L is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Dec 27, 2018	0.74

The correlation between SKYU.L and XLKQ.L shifts across timeframes, from 0.61 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SKYU.L vs. XLKQ.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: 18
SKYU.L Sharpe Ratio Rank: 18
SKYU.L Sortino Ratio Rank: 19
SKYU.L Omega Ratio Rank: 19
SKYU.L Calmar Ratio Rank: 17
SKYU.L Martin Ratio Rank: 16

XLKQ.L

XLKQ.L Risk / Return Rank: 47
XLKQ.L Sharpe Ratio Rank: 53
XLKQ.L Sortino Ratio Rank: 51
XLKQ.L Omega Ratio Rank: 48
XLKQ.L Calmar Ratio Rank: 45
XLKQ.L Martin Ratio Rank: 37

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. XLKQ.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 Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.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.L	XLKQ.L	Difference
Sharpe ratio: Return per unit of total volatility	0.50	1.53	-1.03
Sortino ratio: Return per unit of downside risk	0.89	2.12	-1.23
Omega ratio: Gain probability vs. loss probability	1.11	1.26	-0.15
Calmar ratio: Return relative to maximum drawdown	0.55	1.95	-1.40
Martin ratio: Return relative to average drawdown	1.17	5.35	-4.18

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

The current SKYU.L Sharpe Ratio is 0.50, which is lower than the XLKQ.L Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of SKYU.L and XLKQ.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.

Drawdowns

SKYU.L vs. XLKQ.L - Drawdown Comparison

The maximum SKYU.L drawdown since its inception was -53.12%, which is greater than XLKQ.L's maximum drawdown of -39.80%. Use the drawdown chart below to compare losses from any high point for SKYU.L and XLKQ.L.

Drawdown Indicators

	SKYU.L	XLKQ.L	Difference
Max Drawdown Largest peak-to-trough decline	-53.12%	-39.80%	-13.32%
Max Drawdown (1Y) Largest decline over 1 year	-26.70%	-16.81%	-9.89%
Max Drawdown (3Y) Largest decline over 3 years	-31.91%	-26.96%	-4.95%
Max Drawdown (5Y) Largest decline over 5 years	-53.12%	-35.00%	-18.12%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.00%	—
Current Drawdown Current decline from peak	-10.40%	-7.48%	-2.92%
Average Drawdown Average peak-to-trough decline	-16.78%	-9.18%	-7.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.59%	6.13%	+6.46%

Volatility

SKYU.L vs. XLKQ.L - Volatility Comparison

First Trust Cloud Computing UCITS ETF Class A USD Accumulation (SKYU.L) has a higher volatility of 8.74% compared to Invesco Technology S&P US Select Sector UCITS ETF GBP Acc (XLKQ.L) at 7.47%. This indicates that SKYU.L's price experiences larger fluctuations and is considered to be riskier than XLKQ.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYU.L	XLKQ.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.74%	7.47%	+1.27%
Volatility (6M) Calculated over the trailing 6-month period	25.52%	17.08%	+8.44%
Volatility (1Y) Calculated over the trailing 1-year period	29.72%	21.52%	+8.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.13%	27.46%	+2.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.55%	23.97%	+4.58%

Dividends

SKYU.L vs. XLKQ.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SKYU.L and XLKQ.L in my portfolio?

SKYU.L and XLKQ.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between SKYU.L and XLKQ.L?

SKYU.L tracks First Trust Cloud Computing UCITS ETF Class A USD Accumulation, while XLKQ.L tracks S&P Select Sector Capped 20% Technology Index. They also come from different issuers: First Trust and Invesco.