SKYY vs. CLOU

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust ISE Cloud Computing Index Fund (SKYY) and Global X Cloud Computing ETF (CLOU).

SKYY and CLOU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. CLOU is a passively managed fund by Global X that tracks the performance of the Indxx Global Cloud Computing Index. It was launched on Apr 12, 2019. Both SKYY and CLOU 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

SKYY vs. CLOU - 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 Cloud Computing ETF (CLOU). The values are adjusted to include any dividend payments, if applicable.

SKYY vs. CLOU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SKYY First Trust ISE Cloud Computing Index Fund	-15.93%	9.20%	35.87%	52.18%	-44.68%	10.62%	57.77%	1.86%
CLOU Global X Cloud Computing ETF	-13.79%	-5.59%	5.74%	41.36%	-39.56%	-3.27%	77.18%	4.79%

Returns By Period

In the year-to-date period, SKYY achieves a -15.93% return, which is significantly lower than CLOU's -13.79% return.

SKYY

• 1D: 3.96%
• 1M: -0.26%
• YTD: -15.93%
• 6M: -18.64%
• 1Y: 6.97%
• 3Y*: 17.80%
• 5Y*: 2.34%
• 10Y*: 14.23%

CLOU

• 1D: 3.45%
• 1M: 3.94%
• YTD: -13.79%
• 6M: -16.17%
• 1Y: -7.10%
• 3Y*: 2.05%
• 5Y*: -5.59%
• 10Y*: —

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

SKYY vs. CLOU - Expense Ratio Comparison

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

CLOU

Global X Cloud Computing ETF

SKYY

First Trust ISE Cloud Computing Index Fund

Return for Risk

SKYY vs. CLOU — Risk / Return Rank

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

SKYY

SKYY Risk / Return Rank: 19
SKYY Sharpe Ratio Rank: 19
SKYY Sortino Ratio Rank: 21
SKYY Omega Ratio Rank: 20
SKYY Calmar Ratio Rank: 17
SKYY Martin Ratio Rank: 16

CLOU

CLOU Risk / Return Rank: 7
CLOU Sharpe Ratio Rank: 8
CLOU Sortino Ratio Rank: 8
CLOU Omega Ratio Rank: 8
CLOU Calmar Ratio Rank: 7
CLOU Martin Ratio Rank: 5

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. CLOU - 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 Cloud Computing ETF (CLOU). 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	CLOU	Difference
Sharpe ratio Return per unit of total volatility	0.24	-0.24	+0.48
Sortino ratio Return per unit of downside risk	0.54	-0.15	+0.69
Omega ratio Gain probability vs. loss probability	1.07	0.98	+0.09
Calmar ratio Return relative to maximum drawdown	0.21	-0.32	+0.53
Martin ratio Return relative to average drawdown	0.53	-0.86	+1.39
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. CLOU - Sharpe Ratio Comparison

The current SKYY Sharpe Ratio is 0.24, which is higher than the CLOU Sharpe Ratio of -0.24. The chart below compares the historical Sharpe Ratios of SKYY and CLOU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SKYY	CLOU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.24	-0.24	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	-0.19	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.13	+0.37

Correlation

The correlation between SKYY and CLOU is 0.92, 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

SKYY vs. CLOU - Dividend Comparison

Neither SKYY nor CLOU has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
CLOU Global X Cloud Computing ETF	0.00%	0.00%	0.00%	0.00%	0.00%	1.76%	0.00%	0.05%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SKYY vs. CLOU - Drawdown Comparison

The maximum SKYY drawdown since its inception was -53.20%, roughly equal to the maximum CLOU drawdown of -53.74%. Use the drawdown chart below to compare losses from any high point for SKYY and CLOU.

Drawdown Indicators

	SKYY	CLOU	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-53.74%	+0.54%
Max Drawdown (1Y) Largest decline over 1 year	-26.68%	-25.13%	-1.55%
Max Drawdown (5Y) Largest decline over 5 years	-53.20%	-53.74%	+0.54%
Max Drawdown (10Y) Largest decline over 10 years	-53.20%	—	—
Current Drawdown Current decline from peak	-23.77%	-38.26%	+14.49%
Average Drawdown Average peak-to-trough decline	-10.86%	-24.21%	+13.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.59%	9.47%	+1.12%

Volatility

SKYY vs. CLOU - Volatility Comparison

First Trust ISE Cloud Computing Index Fund (SKYY) and Global X Cloud Computing ETF (CLOU) have volatilities of 7.91% and 7.92%, 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	CLOU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.91%	7.92%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	19.09%	18.82%	+0.27%
Volatility (1Y) Calculated over the trailing 1-year period	29.67%	29.28%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.86%	29.63%	+0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.39%	30.31%	-3.92%