SKYY vs. FXU

Last updated Jul 18, 2026

SKYY (First Trust ISE Cloud Computing Index Fund) and FXU (First Trust Utilities AlphaDEX Fund) are both exchange-traded funds - SKYY is a Technology Equities fund tracking the ISE CTA Cloud Computing Index, while FXU is a Utilities Equities fund tracking the StrataQuant Utilities Index. Both are passively managed. Over the past 10 years, SKYY returned 16.08%/yr vs 9.13%/yr for FXU. At a 0.30 correlation, their price movements are largely independent. SKYY charges 0.60%/yr vs 0.62%/yr for FXU.

Performance

SKYY vs. FXU - Performance Comparison

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

Returns By Period

In the year-to-date period, SKYY achieves a 4.63% return, which is significantly lower than FXU's 11.29% return. Over the past 10 years, SKYY has outperformed FXU with an annualized return of 16.08%, while FXU has yielded a comparatively lower 9.13% annualized return.

SKYY

• 1D: -0.21%
• 1M: 3.17%
• 6M: 9.58%
• YTD: 4.63%
• 1Y: 11.19%
• 3Y*: 19.12%
• 5Y*: 5.92%
• 10Y*: 16.08%

FXU

• 1D: -0.74%
• 1M: 3.76%
• 6M: 7.73%
• YTD: 11.29%
• 1Y: 18.80%
• 3Y*: 18.43%
• 5Y*: 12.47%
• 10Y*: 9.13%

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

SKYY vs. FXU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SKYY First Trust ISE Cloud Computing Index Fund	4.63%	9.20%	35.87%	52.18%	-44.68%	10.62%	57.77%	25.25%	6.01%	33.47%
FXU First Trust Utilities AlphaDEX Fund	11.29%	21.86%	22.50%	-2.12%	3.68%	17.67%	1.53%	11.67%	5.43%	0.98%

Correlation

The correlation between SKYY and FXU is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jul 6, 2011	0.31

The correlation between SKYY and FXU shifts across timeframes, from -0.15 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.

SKYY vs. FXU - Sectors Allocation Comparison

Sectors	SKYY	FXU
Technology	89.1%	-
Communication Services	4.7%	-
Consumer Cyclical	1.6%	-
Healthcare	1.6%	-
Industrials	1.6%	4.0%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	3.6%
Financial Services	-	-
Real Estate	-	-
Utilities	-	92.4%

Return for Risk

SKYY vs. FXU — Risk / Return Rank

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

SKYY

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

FXU

FXU Risk / Return Rank: 48
FXU Sharpe Ratio Rank: 50
FXU Sortino Ratio Rank: 47
FXU Omega Ratio Rank: 44
FXU Calmar Ratio Rank: 55
FXU Martin Ratio Rank: 43

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. FXU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust ISE Cloud Computing Index Fund (SKYY) and First Trust Utilities AlphaDEX Fund (FXU). 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	FXU	Difference
Sharpe ratio: Return per unit of total volatility	0.39	1.39	-0.99
Sortino ratio: Return per unit of downside risk	0.76	1.92	-1.17
Omega ratio: Gain probability vs. loss probability	1.09	1.23	-0.14
Calmar ratio: Return relative to maximum drawdown	0.41	2.19	-1.78
Martin ratio: Return relative to average drawdown	0.87	5.54	-4.68

SKYY vs. FXU - Sharpe Ratio Comparison

The current SKYY Sharpe Ratio is 0.39, which is lower than the FXU Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of SKYY and FXU, 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. FXU - Drawdown Comparison

The maximum SKYY drawdown since its inception was -53.20%, which is greater than FXU's maximum drawdown of -49.00%. Use the drawdown chart below to compare losses from any high point for SKYY and FXU.

Drawdown Indicators

	SKYY	FXU	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-49.00%	-4.20%
Max Drawdown (1Y) Largest decline over 1 year	-27.39%	-8.63%	-18.76%
Max Drawdown (3Y) Largest decline over 3 years	-31.80%	-17.46%	-14.34%
Max Drawdown (5Y) Largest decline over 5 years	-53.20%	-21.87%	-31.33%
Max Drawdown (10Y) Largest decline over 10 years	-53.20%	-34.81%	-18.39%
Current Drawdown Current decline from peak	-12.29%	-2.87%	-9.42%
Average Drawdown Average peak-to-trough decline	-10.91%	-7.61%	-3.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.97%	3.40%	+9.57%

Volatility

SKYY vs. FXU - Volatility Comparison

First Trust ISE Cloud Computing Index Fund (SKYY) has a higher volatility of 6.89% compared to First Trust Utilities AlphaDEX Fund (FXU) at 4.71%. This indicates that SKYY's price experiences larger fluctuations and is considered to be riskier than FXU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYY	FXU	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.89%	4.71%	+2.18%
Volatility (6M) Calculated over the trailing 6-month period	24.22%	10.79%	+13.43%
Volatility (1Y) Calculated over the trailing 1-year period	28.79%	13.63%	+15.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.80%	16.61%	+14.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.89%	18.37%	+8.52%

SKYY vs. FXU - Expense Ratio Comparison

SKYY has a 0.60% expense ratio, which is lower than FXU's 0.62% expense ratio.

Dividends

SKYY vs. FXU - Dividend Comparison

SKYY has not paid dividends to shareholders, while FXU's dividend yield for the trailing twelve months is around 2.14%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXU First Trust Utilities AlphaDEX Fund	2.14%	2.29%	2.41%	2.52%	2.03%	2.00%	3.97%	2.34%	2.40%	3.81%	2.62%	3.90%
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 FXU in my portfolio?

SKYY and FXU have a correlation of -0.15, 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 FXU?

SKYY has higher volatility (6.89%) compared to FXU (4.71%). In terms of maximum drawdown, SKYY dropped -53.20% vs FXU's -49.00%.

Which ETF is better, SKYY or FXU?

On 10-year performance, SKYY leads with 16.08% vs 9.13% for FXU. On fees, SKYY is cheaper at 0.60% per year. On volatility, FXU has been the lower-risk option at 4.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKYY or FXU?

Over the 10-year period, SKYY has performed better with a 16.08% return vs 9.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKYY or FXU?

SKYY is cheaper with a 0.60% expense ratio, compared with 0.62% for FXU.

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

FXU has the higher dividend yield at 2.14%, compared with 0.00% for SKYY.

What is the main difference between SKYY and FXU?

SKYY is categorized as Technology Equities, while FXU is Utilities Equities. SKYY tracks ISE CTA Cloud Computing Index, while FXU tracks StrataQuant Utilities Index. Their fees differ too: 0.60% for SKYY and 0.62% for FXU.

Which has better risk-adjusted returns?

FXU currently has the higher Sharpe Ratio (1.39 vs 0.39), 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.