SKYY vs. IBIT

Last updated Jun 13, 2026

SKYY (First Trust ISE Cloud Computing Index Fund) and IBIT (iShares Bitcoin Trust ETF) are both exchange-traded funds - SKYY is a Technology Equities fund tracking the ISE Cloud Computing Index, while IBIT is a Cryptocurrency fund tracking the CME CF Bitcoin Reference Rate - New York Variant. Both are passively managed. Over the past year, SKYY returned 13.95% vs -40.63% for IBIT. At a 0.37 correlation, their price movements are largely independent. SKYY charges 0.60%/yr vs 0.25%/yr for IBIT.

Performance

SKYY vs. IBIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust ISE Cloud Computing Index Fund (SKYY) and iShares Bitcoin Trust ETF (IBIT). 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 higher than IBIT's -27.41% 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%

IBIT

• 1D: -0.03%
• 1M: -20.12%
• YTD: -27.41%
• 6M: -29.61%
• 1Y: -40.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SKYY vs. IBIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SKYY First Trust ISE Cloud Computing Index Fund	3.03%	9.20%	36.81%
IBIT iShares Bitcoin Trust ETF	-27.41%	-6.41%	89.87%

Correlation

The correlation between SKYY and IBIT is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024	0.37

Return for Risk

SKYY vs. IBIT — 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

IBIT

IBIT Risk / Return Rank: 3
IBIT Sharpe Ratio Rank: 2
IBIT Sortino Ratio Rank: 3
IBIT Omega Ratio Rank: 3
IBIT Calmar Ratio Rank: 3
IBIT Martin Ratio Rank: 2

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. IBIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust ISE Cloud Computing Index Fund (SKYY) and iShares Bitcoin Trust ETF (IBIT). 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	IBIT	Difference
Sharpe ratio: Return per unit of total volatility	0.49	-0.92	+1.42
Sortino ratio: Return per unit of downside risk	0.89	-1.30	+2.19
Omega ratio: Gain probability vs. loss probability	1.11	0.85	+0.25
Calmar ratio: Return relative to maximum drawdown	0.51	-0.78	+1.29
Martin ratio: Return relative to average drawdown	1.13	-1.37	+2.51

SKYY vs. IBIT - Sharpe Ratio Comparison

The current SKYY Sharpe Ratio is 0.49, which is higher than the IBIT Sharpe Ratio of -0.92. The chart below compares the historical Sharpe Ratios of SKYY and IBIT, 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. IBIT - Drawdown Comparison

The maximum SKYY drawdown since its inception was -53.20%, roughly equal to the maximum IBIT drawdown of -52.11%. Use the drawdown chart below to compare losses from any high point for SKYY and IBIT.

Drawdown Indicators

	SKYY	IBIT	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-52.11%	-1.09%
Max Drawdown (1Y) Largest decline over 1 year	-27.39%	-52.11%	+24.72%
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	-13.63%	-49.45%	+35.82%
Average Drawdown Average peak-to-trough decline	-10.90%	-16.53%	+5.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.34%	29.64%	-17.30%

Volatility

SKYY vs. IBIT - Volatility Comparison

First Trust ISE Cloud Computing Index Fund (SKYY) has a higher volatility of 13.09% compared to iShares Bitcoin Trust ETF (IBIT) at 12.07%. This indicates that SKYY's price experiences larger fluctuations and is considered to be riskier than IBIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYY	IBIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.09%	12.07%	+1.02%
Volatility (6M) Calculated over the trailing 6-month period	23.88%	34.45%	-10.57%
Volatility (1Y) Calculated over the trailing 1-year period	28.45%	44.10%	-15.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.67%	50.26%	-19.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.90%	50.26%	-23.36%

SKYY vs. IBIT - Expense Ratio Comparison

SKYY has a 0.60% expense ratio, which is higher than IBIT's 0.25% expense ratio.

Dividends

SKYY vs. IBIT - Dividend Comparison

Neither SKYY nor IBIT has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBIT iShares Bitcoin Trust 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 IBIT in my portfolio?

SKYY and IBIT have a correlation of 0.38, 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 IBIT?

SKYY has higher volatility (13.09%) compared to IBIT (12.07%). In terms of maximum drawdown, SKYY dropped -53.20% vs IBIT's -52.11%.

Which ETF is better, SKYY or IBIT?

On 1-year performance, SKYY leads with 13.95% vs -40.63% for IBIT. On fees, IBIT is cheaper at 0.25% per year. On volatility, IBIT has been the lower-risk option at 12.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKYY or IBIT?

Over the 1-year period, SKYY has performed better with a 13.95% return vs -40.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKYY or IBIT?

IBIT is cheaper with a 0.25% expense ratio, compared with 0.60% for SKYY.

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

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

What is the main difference between SKYY and IBIT?

SKYY is categorized as Technology Equities, while IBIT is Cryptocurrency. SKYY tracks ISE Cloud Computing Index, while IBIT tracks CME CF Bitcoin Reference Rate - New York Variant. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.60% for SKYY and 0.25% for IBIT.

Which has better risk-adjusted returns?

SKYY currently has the higher Sharpe Ratio (0.49 vs -0.92), 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.