SKYY vs. IVES

Last updated Jun 24, 2026

SKYY (First Trust ISE Cloud Computing Index Fund) and IVES (Dan IVES Wedbush AI Revolution ETF) are both Technology Equities funds - SKYY tracks the ISE Cloud Computing Index while IVES tracks the Solactive Wedbush Artificial Intelligence Index. Both are passively managed. Over the past year, SKYY returned 11.01% vs 40.84% for IVES. A 0.78 correlation means they provide meaningful diversification when combined. SKYY charges 0.60%/yr vs 0.75%/yr for IVES.

Performance

SKYY vs. IVES - Performance Comparison

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

Returns By Period

In the year-to-date period, SKYY achieves a -0.55% return, which is significantly lower than IVES's 15.94% return.

SKYY

• 1D: -0.14%
• 1M: -2.76%
• YTD: -0.55%
• 6M: -2.25%
• 1Y: 11.01%
• 3Y*: 20.55%
• 5Y*: 4.29%
• 10Y*: 16.18%

IVES

• 1D: -2.42%
• 1M: -1.61%
• YTD: 15.94%
• 6M: 13.43%
• 1Y: 40.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SKYY vs. IVES - Yearly Performance Comparison

	2026 (YTD)	2025
SKYY First Trust ISE Cloud Computing Index Fund	-0.55%	11.13%
IVES Dan IVES Wedbush AI Revolution ETF	15.94%	25.11%

Correlation

The correlation between SKYY and IVES is 0.78, 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	0.78
Correlation (All Time) Calculated using the full available price history since Jun 4, 2025	0.78

The correlation between SKYY and IVES has been stable across timeframes, ranging from 0.78 to 0.78 - a consistent structural relationship.

SKYY vs. IVES - Sectors Allocation Comparison

Sectors	SKYY	IVES
Technology	88.9%	71.8%
Communication Services	4.8%	10.9%
Consumer Cyclical	1.6%	11.0%
Healthcare	1.6%	-
Industrials	1.6%	3.1%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	1.9%
Real Estate	-	-
Utilities	-	1.3%

Return for Risk

SKYY vs. IVES — Risk / Return Rank

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

SKYY

SKYY Risk / Return Rank: 14
SKYY Sharpe Ratio Rank: 14
SKYY Sortino Ratio Rank: 15
SKYY Omega Ratio Rank: 15
SKYY Calmar Ratio Rank: 13
SKYY Martin Ratio Rank: 13

IVES

IVES Risk / Return Rank: 40
IVES Sharpe Ratio Rank: 45
IVES Sortino Ratio Rank: 41
IVES Omega Ratio Rank: 41
IVES Calmar Ratio Rank: 37
IVES Martin Ratio Rank: 34

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. IVES - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust ISE Cloud Computing Index Fund (SKYY) and Dan IVES Wedbush AI Revolution ETF (IVES). 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	IVES	Difference
Sharpe ratio: Return per unit of total volatility	0.39	1.51	-1.13
Sortino ratio: Return per unit of downside risk	0.75	2.03	-1.28
Omega ratio: Gain probability vs. loss probability	1.09	1.26	-0.17
Calmar ratio: Return relative to maximum drawdown	0.40	1.81	-1.41
Martin ratio: Return relative to average drawdown	0.88	4.94	-4.06

SKYY vs. IVES - Sharpe Ratio Comparison

The current SKYY Sharpe Ratio is 0.39, which is lower than the IVES Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of SKYY and IVES, 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. IVES - Drawdown Comparison

The maximum SKYY drawdown since its inception was -53.20%, which is greater than IVES's maximum drawdown of -22.64%. Use the drawdown chart below to compare losses from any high point for SKYY and IVES.

Drawdown Indicators

	SKYY	IVES	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-22.64%	-30.56%
Max Drawdown (1Y) Largest decline over 1 year	-27.39%	-22.64%	-4.75%
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	-16.63%	-12.17%	-4.46%
Average Drawdown Average peak-to-trough decline	-10.90%	-5.83%	-5.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.55%	8.28%	+4.27%

Volatility

SKYY vs. IVES - Volatility Comparison

First Trust ISE Cloud Computing Index Fund (SKYY) has a higher volatility of 13.51% compared to Dan IVES Wedbush AI Revolution ETF (IVES) at 11.75%. This indicates that SKYY's price experiences larger fluctuations and is considered to be riskier than IVES based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYY	IVES	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.51%	11.75%	+1.76%
Volatility (6M) Calculated over the trailing 6-month period	23.95%	21.34%	+2.61%
Volatility (1Y) Calculated over the trailing 1-year period	28.58%	27.10%	+1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.73%	26.66%	+4.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.89%	26.66%	+0.23%

SKYY vs. IVES - Expense Ratio Comparison

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

Dividends

SKYY vs. IVES - Dividend Comparison

SKYY has not paid dividends to shareholders, while IVES's dividend yield for the trailing twelve months is around 0.36%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVES Dan IVES Wedbush AI Revolution ETF	0.36%	0.41%	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 IVES in my portfolio?

SKYY and IVES have a correlation of 0.78, 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 IVES?

SKYY has higher volatility (13.51%) compared to IVES (11.75%). In terms of maximum drawdown, SKYY dropped -53.20% vs IVES's -22.64%.

Which ETF is better, SKYY or IVES?

On 1-year performance, IVES leads with 40.84% vs 11.01% for SKYY. On fees, SKYY is cheaper at 0.60% per year. On volatility, IVES has been the lower-risk option at 11.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKYY or IVES?

Over the 1-year period, IVES has performed better with a 40.84% return vs 11.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKYY or IVES?

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

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

IVES has the higher dividend yield at 0.36%, compared with 0.00% for SKYY.

What is the main difference between SKYY and IVES?

SKYY tracks ISE Cloud Computing Index, while IVES tracks Solactive Wedbush Artificial Intelligence Index. They also come from different issuers: First Trust and Wedbush. Their fees differ too: 0.60% for SKYY and 0.75% for IVES.

Which has better risk-adjusted returns?

IVES currently has the higher Sharpe Ratio (1.51 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.