SKYU vs. SKYY
Compare and contrast key facts about ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) and First Trust ISE Cloud Computing Index Fund (SKYY).
SKYU and SKYY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SKYU is a passively managed fund by ProShares that tracks the performance of the ISE Cloud Computing Index (200%). It was launched on Jan 19, 2021. SKYY is a passively managed fund by First Trust that tracks the performance of the ISE Cloud Computing Index. It was launched on Jul 5, 2011. Both SKYU and SKYY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
SKYU vs. SKYY - Performance Comparison
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SKYU vs. SKYY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SKYU ProShares Ultra Nasdaq Cloud Computing ETF | -30.59% | 2.76% | 65.79% | 105.76% | -75.95% | 7.15% |
SKYY First Trust ISE Cloud Computing Index Fund | -15.18% | 9.20% | 35.87% | 52.18% | -44.68% | 6.19% |
Returns By Period
In the year-to-date period, SKYU achieves a -30.59% return, which is significantly lower than SKYY's -15.18% return.
SKYU
- 1D
- 1.85%
- 1M
- -1.21%
- YTD
- -30.59%
- 6M
- -36.73%
- 1Y
- -1.52%
- 3Y*
- 23.32%
- 5Y*
- -8.28%
- 10Y*
- —
SKYY
- 1D
- 0.89%
- 1M
- -0.08%
- YTD
- -15.18%
- 6M
- -17.96%
- 1Y
- 6.70%
- 3Y*
- 18.15%
- 5Y*
- 2.52%
- 10Y*
- 14.33%
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SKYU vs. SKYY - Expense Ratio Comparison
SKYU has a 0.95% expense ratio, which is higher than SKYY's 0.60% expense ratio.
Return for Risk
SKYU vs. SKYY — Risk / Return Rank
SKYU
SKYY
SKYU vs. SKYY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) 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.
| SKYU | SKYY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.03 | 0.23 | -0.25 |
Sortino ratioReturn per unit of downside risk | 0.39 | 0.53 | -0.14 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.07 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 0.02 | 0.30 | -0.28 |
Martin ratioReturn relative to average drawdown | 0.04 | 0.74 | -0.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SKYU | SKYY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.03 | 0.23 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 0.08 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.14 | 0.50 | -0.65 |
Correlation
The correlation between SKYU and SKYY is 0.96, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SKYU vs. SKYY - Dividend Comparison
SKYU's dividend yield for the trailing twelve months is around 1.01%, while SKYY has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SKYU ProShares Ultra Nasdaq Cloud Computing ETF | 1.01% | 0.56% | 0.21% | 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% |
Drawdowns
SKYU vs. SKYY - Drawdown Comparison
The maximum SKYU drawdown since its inception was -83.01%, which is greater than SKYY's maximum drawdown of -53.20%. Use the drawdown chart below to compare losses from any high point for SKYU and SKYY.
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Drawdown Indicators
| SKYU | SKYY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.01% | -53.20% | -29.81% |
Max Drawdown (1Y)Largest decline over 1 year | -48.85% | -26.68% | -22.17% |
Max Drawdown (5Y)Largest decline over 5 years | -83.01% | -53.20% | -29.81% |
Max Drawdown (10Y)Largest decline over 10 years | — | -53.20% | — |
Current DrawdownCurrent decline from peak | -55.30% | -23.09% | -32.21% |
Average DrawdownAverage peak-to-trough decline | -49.36% | -10.87% | -38.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.57% | 10.69% | +9.88% |
Volatility
SKYU vs. SKYY - Volatility Comparison
ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) has a higher volatility of 16.10% compared to First Trust ISE Cloud Computing Index Fund (SKYY) at 7.95%. This indicates that SKYU'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
| SKYU | SKYY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.10% | 7.95% | +8.15% |
Volatility (6M)Calculated over the trailing 6-month period | 38.96% | 19.11% | +19.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 59.55% | 29.65% | +29.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.36% | 29.84% | +30.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 60.41% | 26.39% | +34.02% |