SKYY vs. JETS

Last updated Jun 13, 2026

SKYY (First Trust ISE Cloud Computing Index Fund) and JETS (U.S. Global Jets ETF) are both exchange-traded funds - SKYY is a Technology Equities fund tracking the ISE Cloud Computing Index, while JETS is a Industrials Equities fund tracking the U.S. Global Jets Index. Both are passively managed. Over the past 10 years, SKYY returned 16.26%/yr vs 3.62%/yr for JETS. At a 0.47 correlation, their price movements are largely independent. Both charge a 0.60% expense ratio.

Performance

SKYY vs. JETS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust ISE Cloud Computing Index Fund (SKYY) and U.S. Global Jets ETF (JETS). 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 lower than JETS's 5.20% return. Over the past 10 years, SKYY has outperformed JETS with an annualized return of 16.26%, while JETS has yielded a comparatively lower 3.62% annualized 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%

JETS

• 1D: 1.93%
• 1M: 13.01%
• YTD: 5.20%
• 6M: 5.27%
• 1Y: 32.79%
• 3Y*: 13.75%
• 5Y*: 2.62%
• 10Y*: 3.62%

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

SKYY vs. JETS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SKYY First Trust ISE Cloud Computing Index Fund	3.03%	9.20%	35.87%	52.18%	-44.68%	10.62%	57.77%	25.25%	6.01%	33.47%
JETS U.S. Global Jets ETF	5.20%	11.64%	33.21%	11.42%	-19.01%	-5.13%	-28.93%	14.38%	-14.30%	18.66%

Correlation

The correlation between SKYY and JETS is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Apr 30, 2015	0.47

The correlation between SKYY and JETS shifts across timeframes, from 0.37 (1 year) to 0.51 (5 years), reflecting how their relationship changes across market environments.

SKYY vs. JETS - Sectors Allocation Comparison

Sectors	SKYY	JETS
Technology	88.9%	2.6%
Communication Services	4.8%	-
Consumer Cyclical	1.6%	8.6%
Healthcare	1.6%	-
Industrials	1.6%	88.8%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SKYY vs. JETS — 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

JETS

JETS Risk / Return Rank: 31
JETS Sharpe Ratio Rank: 31
JETS Sortino Ratio Rank: 35
JETS Omega Ratio Rank: 31
JETS Calmar Ratio Rank: 31
JETS Martin Ratio Rank: 28

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. JETS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust ISE Cloud Computing Index Fund (SKYY) and U.S. Global Jets ETF (JETS). 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	JETS	Difference
Sharpe ratio: Return per unit of total volatility	0.49	0.99	-0.49
Sortino ratio: Return per unit of downside risk	0.89	1.65	-0.76
Omega ratio: Gain probability vs. loss probability	1.11	1.19	-0.08
Calmar ratio: Return relative to maximum drawdown	0.51	1.37	-0.85
Martin ratio: Return relative to average drawdown	1.13	3.47	-2.34

SKYY vs. JETS - Sharpe Ratio Comparison

The current SKYY Sharpe Ratio is 0.49, which is lower than the JETS Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of SKYY and JETS, 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. JETS - Drawdown Comparison

The maximum SKYY drawdown since its inception was -53.20%, smaller than the maximum JETS drawdown of -64.92%. Use the drawdown chart below to compare losses from any high point for SKYY and JETS.

Drawdown Indicators

	SKYY	JETS	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-64.92%	+11.72%
Max Drawdown (1Y) Largest decline over 1 year	-27.39%	-24.13%	-3.26%
Max Drawdown (3Y) Largest decline over 3 years	-31.80%	-35.21%	+3.41%
Max Drawdown (5Y) Largest decline over 5 years	-53.20%	-42.84%	-10.36%
Max Drawdown (10Y) Largest decline over 10 years	-53.20%	-64.92%	+11.72%
Current Drawdown Current decline from peak	-13.63%	-12.35%	-1.28%
Average Drawdown Average peak-to-trough decline	-10.90%	-25.16%	+14.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.34%	9.47%	+2.87%

Volatility

SKYY vs. JETS - Volatility Comparison

First Trust ISE Cloud Computing Index Fund (SKYY) and U.S. Global Jets ETF (JETS) have volatilities of 13.09% and 13.04%, 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	JETS	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.09%	13.04%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	23.88%	25.44%	-1.56%
Volatility (1Y) Calculated over the trailing 1-year period	28.45%	33.42%	-4.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.67%	32.49%	-1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.90%	34.26%	-7.36%

SKYY vs. JETS - Expense Ratio Comparison

Both SKYY and JETS have an expense ratio of 0.60%.

Dividends

SKYY vs. JETS - Dividend Comparison

SKYY has not paid dividends to shareholders, while JETS's dividend yield for the trailing twelve months is around 0.79%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JETS U.S. Global Jets ETF	0.79%	0.83%	0.00%	0.00%	0.00%	0.67%	0.04%	1.24%	0.09%	1.57%	0.58%	0.17%
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 JETS in my portfolio?

SKYY and JETS have a correlation of 0.37, 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 JETS?

SKYY has higher volatility (13.09%) compared to JETS (13.04%). In terms of maximum drawdown, SKYY dropped -53.20% vs JETS's -64.92%.

Which ETF is better, SKYY or JETS?

On 10-year performance, SKYY leads with 16.26% vs 3.62% for JETS. Both ETFs have the same 0.60% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKYY or JETS?

Over the 10-year period, SKYY has performed better with a 16.26% return vs 3.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKYY or JETS?

SKYY and JETS have the same expense ratio: 0.60% per year.

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

JETS has the higher dividend yield at 0.79%, compared with 0.00% for SKYY.

What is the main difference between SKYY and JETS?

SKYY is categorized as Technology Equities, while JETS is Industrials Equities. SKYY tracks ISE Cloud Computing Index, while JETS tracks U.S. Global Jets Index. They also come from different issuers: First Trust and US Global.

Which has better risk-adjusted returns?

JETS currently has the higher Sharpe Ratio (0.99 vs 0.49), 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.