SKYY vs. CHPS

Last updated Jun 4, 2026

SKYY (First Trust ISE Cloud Computing Index Fund) and CHPS (Xtrackers Semiconductor Select Equity ETF) are both exchange-traded funds - SKYY is a Technology Equities fund tracking the ISE Cloud Computing Index, while CHPS is a Semiconductors fund tracking the Solactive Semiconductor ESG Screened Index - Benchmark TR Gross. Both are passively managed. Over the past year, SKYY returned 26.22% vs 223.67% for CHPS. A 0.60 correlation means they provide meaningful diversification when combined. SKYY charges 0.60%/yr vs 0.15%/yr for CHPS.

Performance

SKYY vs. CHPS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust ISE Cloud Computing Index Fund (SKYY) and Xtrackers Semiconductor Select Equity ETF (CHPS). 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 CHPS's 107.97% 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%

CHPS

• 1D: 1.86%
• 1M: 32.32%
• YTD: 107.97%
• 6M: 109.04%
• 1Y: 223.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SKYY vs. CHPS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SKYY First Trust ISE Cloud Computing Index Fund	13.58%	9.20%	35.87%	10.19%
CHPS Xtrackers Semiconductor Select Equity ETF	107.97%	58.47%	7.75%	10.88%

Correlation

The correlation between SKYY and CHPS is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jul 14, 2023	0.60

The correlation between SKYY and CHPS shifts across timeframes, from 0.43 (1 year) to 0.60 (all time), reflecting how their relationship changes across market environments.

SKYY vs. CHPS - Sectors Allocation Comparison

Sectors	SKYY	CHPS
Technology	88.9%	98.8%
Communication Services	4.8%	-
Consumer Cyclical	1.6%	-
Healthcare	1.6%	-
Industrials	1.6%	0.4%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	0.5%
Financial Services	-	0.2%
Real Estate	-	-
Utilities	-	-

Return for Risk

SKYY vs. CHPS — 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

CHPS

CHPS Risk / Return Rank: 97
CHPS Sharpe Ratio Rank: 99
CHPS Sortino Ratio Rank: 97
CHPS Omega Ratio Rank: 96
CHPS Calmar Ratio Rank: 98
CHPS 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. CHPS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust ISE Cloud Computing Index Fund (SKYY) and Xtrackers Semiconductor Select Equity ETF (CHPS). 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	CHPS	Difference
Sharpe ratio: Return per unit of total volatility	0.95	6.54	-5.60
Sortino ratio: Return per unit of downside risk	1.48	6.07	-4.59
Omega ratio: Gain probability vs. loss probability	1.18	1.81	-0.63
Calmar ratio: Return relative to maximum drawdown	0.96	12.87	-11.91
Martin ratio: Return relative to average drawdown	2.16	49.99	-47.83
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. CHPS - Sharpe Ratio Comparison

The current SKYY Sharpe Ratio is 0.95, which is lower than the CHPS Sharpe Ratio of 6.54. The chart below compares the historical Sharpe Ratios of SKYY and CHPS, 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	CHPS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	6.54	-5.60
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	1.81	-1.23

Drawdowns

SKYY vs. CHPS - Drawdown Comparison

The maximum SKYY drawdown since its inception was -53.20%, which is greater than CHPS's maximum drawdown of -39.44%. Use the drawdown chart below to compare losses from any high point for SKYY and CHPS.

Drawdown Indicators

	SKYY	CHPS	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-39.44%	-13.76%
Max Drawdown (1Y) Largest decline over 1 year	-27.39%	-17.50%	-9.89%
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%	-9.16%	-1.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.20%	4.50%	+7.70%

Volatility

SKYY vs. CHPS - Volatility Comparison

The current volatility for First Trust ISE Cloud Computing Index Fund (SKYY) is 11.77%, while Xtrackers Semiconductor Select Equity ETF (CHPS) has a volatility of 14.18%. This indicates that SKYY experiences smaller price fluctuations and is considered to be less risky than CHPS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYY	CHPS	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.77%	14.18%	-2.41%
Volatility (6M) Calculated over the trailing 6-month period	23.23%	28.19%	-4.96%
Volatility (1Y) Calculated over the trailing 1-year period	27.86%	34.43%	-6.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.58%	33.78%	-3.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.85%	33.78%	-6.93%

SKYY vs. CHPS - Expense Ratio Comparison

SKYY has a 0.60% expense ratio, which is higher than CHPS's 0.15% expense ratio.

Dividends

SKYY vs. CHPS - Dividend Comparison

SKYY has not paid dividends to shareholders, while CHPS's dividend yield for the trailing twelve months is around 0.32%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHPS Xtrackers Semiconductor Select Equity ETF	0.32%	0.68%	1.75%	0.36%	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 CHPS in my portfolio?

SKYY and CHPS have a correlation of 0.43, 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 CHPS?

CHPS has higher volatility (14.18%) compared to SKYY (11.77%). In terms of maximum drawdown, SKYY dropped -53.20% vs CHPS's -39.44%.

Which ETF is better, SKYY or CHPS?

On 1-year performance, CHPS leads with 223.67% vs 26.22% for SKYY. On fees, CHPS is cheaper at 0.15% 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 CHPS?

Over the 1-year period, CHPS has performed better with a 223.67% 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 CHPS?

CHPS is cheaper with a 0.15% expense ratio, compared with 0.60% for SKYY.

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

CHPS has the higher dividend yield at 0.32%, compared with 0.00% for SKYY.

What is the main difference between SKYY and CHPS?

SKYY is categorized as Technology Equities, while CHPS is Semiconductors. SKYY tracks ISE Cloud Computing Index, while CHPS tracks Solactive Semiconductor ESG Screened Index - Benchmark TR Gross. They also come from different issuers: First Trust and Xtrackers. Their fees differ too: 0.60% for SKYY and 0.15% for CHPS.

Which has better risk-adjusted returns?

CHPS currently has the higher Sharpe Ratio (6.54 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.