SKYY vs. AIS

Last updated Jun 4, 2026

SKYY (First Trust ISE Cloud Computing Index Fund) and AIS (VistaShares Artificial Intelligence Supercycle ETF) are both Technology Equities funds. SKYY is passively managed, while AIS is actively managed. Over the past year, SKYY returned 26.22% vs 226.72% for AIS. A 0.65 correlation means they provide meaningful diversification when combined. SKYY charges 0.60%/yr vs 0.75%/yr for AIS.

Performance

SKYY vs. AIS - Performance Comparison

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

Returns By Period

In the year-to-date period, SKYY achieves a 13.58% return, which is significantly lower than AIS's 118.61% return.

SKYY

• 1D: -3.49%
• 1M: 16.66%
• YTD: 13.58%
• 6M: 12.79%
• 1Y: 26.22%
• 3Y*: 25.41%
• 5Y*: 8.47%
• 10Y*: 17.20%

AIS

• 1D: 0.72%
• 1M: 35.87%
• YTD: 118.61%
• 6M: 122.65%
• 1Y: 226.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SKYY vs. AIS - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SKYY First Trust ISE Cloud Computing Index Fund	13.58%	9.20%	-3.41%
AIS VistaShares Artificial Intelligence Supercycle ETF	118.61%	58.35%	-4.92%

Correlation

The correlation between SKYY and AIS is 0.54, 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	0.54
Correlation (All Time) Calculated using the full available price history since Dec 4, 2024	0.65

The correlation between SKYY and AIS shifts across timeframes, from 0.54 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

SKYY vs. AIS - Sectors Allocation Comparison

Sectors	SKYY	AIS
Technology	88.9%	84.6%
Communication Services	4.8%	-
Consumer Cyclical	1.6%	-
Healthcare	1.6%	-
Industrials	1.6%	8.9%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-0.0%
Real Estate	-	-
Utilities	-	3.2%

Return for Risk

SKYY vs. AIS — Risk / Return Rank

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

SKYY

SKYY Risk / Return Rank: 24
SKYY Sharpe Ratio Rank: 26
SKYY Sortino Ratio Rank: 26
SKYY Omega Ratio Rank: 26
SKYY Calmar Ratio Rank: 21
SKYY Martin Ratio Rank: 19

AIS

AIS Risk / Return Rank: 97
AIS Sharpe Ratio Rank: 98
AIS Sortino Ratio Rank: 96
AIS Omega Ratio Rank: 96
AIS Calmar Ratio Rank: 98
AIS Martin Ratio Rank: 97

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. AIS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust ISE Cloud Computing Index Fund (SKYY) and VistaShares Artificial Intelligence Supercycle ETF (AIS). 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.

	SKYY	AIS	Difference
Sharpe ratio: Return per unit of total volatility	0.95	6.34	-5.40
Sortino ratio: Return per unit of downside risk	1.48	5.78	-4.31
Omega ratio: Gain probability vs. loss probability	1.18	1.80	-0.62
Calmar ratio: Return relative to maximum drawdown	0.96	14.41	-13.45
Martin ratio: Return relative to average drawdown	2.16	47.43	-45.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SKYY vs. AIS - Sharpe Ratio Comparison

The current SKYY Sharpe Ratio is 0.95, which is lower than the AIS Sharpe Ratio of 6.34. The chart below compares the historical Sharpe Ratios of SKYY and AIS, 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

	SKYY	AIS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	6.34	-5.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	3.24	-2.66

Drawdowns

SKYY vs. AIS - Drawdown Comparison

The maximum SKYY drawdown since its inception was -53.20%, which is greater than AIS's maximum drawdown of -32.78%. Use the drawdown chart below to compare losses from any high point for SKYY and AIS.

Drawdown Indicators

	SKYY	AIS	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-32.78%	-20.42%
Max Drawdown (1Y) Largest decline over 1 year	-27.39%	-15.84%	-11.55%
Max Drawdown (3Y) Largest decline over 3 years	-31.80%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-53.20%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-53.20%	—	—
Current Drawdown Current decline from peak	-4.79%	0.00%	-4.79%
Average Drawdown Average peak-to-trough decline	-10.90%	-5.45%	-5.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.20%	4.80%	+7.40%

Volatility

SKYY vs. AIS - Volatility Comparison

The current volatility for First Trust ISE Cloud Computing Index Fund (SKYY) is 11.77%, while VistaShares Artificial Intelligence Supercycle ETF (AIS) has a volatility of 16.12%. This indicates that SKYY experiences smaller price fluctuations and is considered to be less risky than AIS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYY	AIS	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.77%	16.12%	-4.35%
Volatility (6M) Calculated over the trailing 6-month period	23.23%	29.95%	-6.72%
Volatility (1Y) Calculated over the trailing 1-year period	27.86%	36.00%	-8.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.58%	38.04%	-7.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.85%	38.04%	-11.19%

SKYY vs. AIS - Expense Ratio Comparison

SKYY has a 0.60% expense ratio, which is lower than AIS's 0.75% expense ratio.

Dividends

SKYY vs. AIS - Dividend Comparison

Neither SKYY nor AIS has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIS VistaShares Artificial Intelligence Supercycle ETF	0.00%	0.00%	0.00%	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%

Frequently Asked Questions

Can I hold both SKYY and AIS in my portfolio?

SKYY and AIS have a correlation of 0.54, 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 AIS?

AIS has higher volatility (16.12%) compared to SKYY (11.77%). In terms of maximum drawdown, SKYY dropped -53.20% vs AIS's -32.78%.

Which ETF is better, SKYY or AIS?

On 1-year performance, AIS leads with 226.72% vs 26.22% for SKYY. On fees, SKYY is cheaper at 0.60% per year. On volatility, SKYY has been the lower-risk option at 11.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKYY or AIS?

Over the 1-year period, AIS has performed better with a 226.72% return vs 26.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKYY or AIS?

SKYY is cheaper with a 0.60% expense ratio, compared with 0.75% for AIS.

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

SKYY and AIS have nearly identical dividend yields, around 0.00%.

What is the main difference between SKYY and AIS?

They also come from different issuers: First Trust and VistaShares. Their fees differ too: 0.60% for SKYY and 0.75% for AIS.

Which has better risk-adjusted returns?

AIS currently has the higher Sharpe Ratio (6.34 vs 0.95), 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.