SKYY vs. AIQ

Last updated Jun 13, 2026

SKYY (First Trust ISE Cloud Computing Index Fund) and AIQ (Global X Artificial Intelligence & Technology ETF) are both Technology Equities funds - SKYY tracks the ISE Cloud Computing Index while AIQ tracks the Indxx Artificial Intelligence & Big Data Index. Both are passively managed. Over the past 5 years, SKYY returned 5.69%/yr vs 16.96%/yr for AIQ. Their correlation of 0.86 suggests significant overlap in exposure. SKYY charges 0.60%/yr vs 0.68%/yr for AIQ.

Performance

SKYY vs. AIQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust ISE Cloud Computing Index Fund (SKYY) and Global X Artificial Intelligence & Technology ETF (AIQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKYY achieves a 3.03% return, which is significantly lower than AIQ's 25.84% return.

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%

AIQ

• 1D: 0.08%
• 1M: 3.04%
• YTD: 25.84%
• 6M: 26.79%
• 1Y: 52.00%
• 3Y*: 32.14%
• 5Y*: 16.96%
• 10Y*: —

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

SKYY vs. AIQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SKYY First Trust ISE Cloud Computing Index Fund	3.03%	9.20%	35.87%	52.18%	-44.68%	10.62%	57.77%	25.25%	-6.26%
AIQ Global X Artificial Intelligence & Technology ETF	25.84%	31.89%	24.11%	55.39%	-36.44%	17.09%	52.88%	39.94%	-14.05%

Correlation

The correlation between SKYY and AIQ is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since May 16, 2018	0.86

The correlation between SKYY and AIQ shifts across timeframes, from 0.73 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

SKYY vs. AIQ - Sectors Allocation Comparison

Sectors	SKYY	AIQ
Technology	88.9%	73.3%
Communication Services	4.8%	13.2%
Consumer Cyclical	1.6%	8.5%
Healthcare	1.6%	0.4%
Industrials	1.6%	4.2%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.4%
Real Estate	-	-
Utilities	-	-

Return for Risk

SKYY vs. AIQ — Risk / Return Rank

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

SKYY

SKYY Risk / Return Rank: 17
SKYY Sharpe Ratio Rank: 18
SKYY Sortino Ratio Rank: 19
SKYY Omega Ratio Rank: 18
SKYY Calmar Ratio Rank: 16
SKYY Martin Ratio Rank: 15

AIQ

AIQ Risk / Return Rank: 69
AIQ Sharpe Ratio Rank: 74
AIQ Sortino Ratio Rank: 65
AIQ Omega Ratio Rank: 69
AIQ Calmar Ratio Rank: 72
AIQ Martin Ratio Rank: 66

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.

SKYY vs. AIQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust ISE Cloud Computing Index Fund (SKYY) and Global X Artificial Intelligence & Technology ETF (AIQ). 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.

	SKYY	AIQ	Difference
Sharpe ratio: Return per unit of total volatility	0.49	2.06	-1.57
Sortino ratio: Return per unit of downside risk	0.89	2.59	-1.71
Omega ratio: Gain probability vs. loss probability	1.11	1.35	-0.25
Calmar ratio: Return relative to maximum drawdown	0.51	3.17	-2.66
Martin ratio: Return relative to average drawdown	1.13	10.43	-9.29

SKYY vs. AIQ - Sharpe Ratio Comparison

The current SKYY Sharpe Ratio is 0.49, which is lower than the AIQ Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of SKYY and AIQ, 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

SKYY vs. AIQ - Drawdown Comparison

The maximum SKYY drawdown since its inception was -53.20%, which is greater than AIQ's maximum drawdown of -44.66%. Use the drawdown chart below to compare losses from any high point for SKYY and AIQ.

Drawdown Indicators

	SKYY	AIQ	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-44.66%	-8.54%
Max Drawdown (1Y) Largest decline over 1 year	-27.39%	-16.47%	-10.92%
Max Drawdown (3Y) Largest decline over 3 years	-31.80%	-26.35%	-5.45%
Max Drawdown (5Y) Largest decline over 5 years	-53.20%	-44.66%	-8.54%
Max Drawdown (10Y) Largest decline over 10 years	-53.20%	—	—
Current Drawdown Current decline from peak	-13.63%	-8.75%	-4.88%
Average Drawdown Average peak-to-trough decline	-10.90%	-9.79%	-1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.34%	5.00%	+7.34%

Volatility

SKYY vs. AIQ - Volatility Comparison

First Trust ISE Cloud Computing Index Fund (SKYY) and Global X Artificial Intelligence & Technology ETF (AIQ) have volatilities of 13.09% and 12.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYY	AIQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.09%	12.90%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	23.88%	21.38%	+2.50%
Volatility (1Y) Calculated over the trailing 1-year period	28.45%	25.31%	+3.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.67%	25.74%	+4.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.90%	25.71%	+1.19%

SKYY vs. AIQ - Expense Ratio Comparison

SKYY has a 0.60% expense ratio, which is lower than AIQ's 0.68% expense ratio.

Dividends

SKYY vs. AIQ - Dividend Comparison

SKYY has not paid dividends to shareholders, while AIQ's dividend yield for the trailing twelve months is around 0.15%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIQ Global X Artificial Intelligence & Technology ETF	0.15%	0.18%	0.14%	0.16%	0.56%	0.15%	0.50%	0.51%	0.51%	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

Can I hold both SKYY and AIQ in my portfolio?

SKYY and AIQ have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SKYY or AIQ?

SKYY has higher volatility (13.09%) compared to AIQ (12.90%). In terms of maximum drawdown, SKYY dropped -53.20% vs AIQ's -44.66%.

Which ETF is better, SKYY or AIQ?

On 5-year performance, AIQ leads with 16.96% vs 5.69% for SKYY. On fees, SKYY is cheaper at 0.60% per year. On volatility, AIQ has been the lower-risk option at 12.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKYY or AIQ?

Over the 5-year period, AIQ has performed better with a 16.96% return vs 5.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKYY or AIQ?

SKYY is cheaper with a 0.60% expense ratio, compared with 0.68% for AIQ.

Which ETF pays a higher dividend yield, SKYY or AIQ?

AIQ has the higher dividend yield at 0.15%, compared with 0.00% for SKYY.

What is the main difference between SKYY and AIQ?

SKYY tracks ISE Cloud Computing Index, while AIQ tracks Indxx Artificial Intelligence & Big Data Index. They also come from different issuers: First Trust and Global X. Their fees differ too: 0.60% for SKYY and 0.68% for AIQ.

Which has better risk-adjusted returns?

AIQ currently has the higher Sharpe Ratio (2.06 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.