SKYY vs. QCLN

Last updated Jun 4, 2026

SKYY (First Trust ISE Cloud Computing Index Fund) and QCLN (First Trust NASDAQ Clean Edge Green Energy Index Fund) are both exchange-traded funds - SKYY is a Technology Equities fund tracking the ISE Cloud Computing Index, while QCLN is a Alternative Energy Equities fund tracking the NASDAQ Clean Edge Green Energy. Both are passively managed. Over the past 10 years, SKYY returned 17.20%/yr vs 17.39%/yr for QCLN. A 0.69 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

SKYY vs. QCLN - 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 NASDAQ Clean Edge Green Energy Index Fund (QCLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SKYY achieves a 13.58% return, which is significantly lower than QCLN's 52.94% return. Both investments have delivered pretty close results over the past 10 years, with SKYY having a 17.20% annualized return and QCLN not far ahead at 17.39%.

SKYY

• 1D: -3.49%
• 1M: 16.66%
• YTD: 13.58%
• 6M: 12.79%
• 1Y: 26.22%
• 3Y*: 25.41%
• 5Y*: 8.47%
• 10Y*: 17.20%

QCLN

• 1D: -0.41%
• 1M: 16.40%
• YTD: 52.94%
• 6M: 50.79%
• 1Y: 120.21%
• 3Y*: 12.03%
• 5Y*: 2.16%
• 10Y*: 17.39%

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

SKYY vs. QCLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SKYY First Trust ISE Cloud Computing Index Fund	13.58%	9.20%	35.87%	52.18%	-44.68%	10.62%	57.77%	25.25%	6.01%	33.47%
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	52.94%	31.81%	-18.86%	-10.02%	-30.37%	-3.21%	184.00%	42.65%	-12.38%	32.34%

Correlation

The correlation between SKYY and QCLN is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jul 7, 2011	0.69

Over the past year, the correlation between SKYY and QCLN has dropped to 0.43 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

SKYY vs. QCLN - Sectors Allocation Comparison

Sectors	SKYY	QCLN
Technology	88.9%	20.8%
Communication Services	4.8%	-
Consumer Cyclical	1.6%	9.4%
Healthcare	1.6%	-
Industrials	1.6%	30.2%
Basic Materials	-	9.4%
Consumer Defensive	-	-
Energy	-	13.2%
Financial Services	-	1.9%
Real Estate	-	-
Utilities	-	13.2%

Return for Risk

SKYY vs. QCLN — Risk / Return Rank

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

SKYY

SKYY Risk / Return Rank: 24
SKYY Sharpe Ratio Rank: 26
SKYY Sortino Ratio Rank: 26
SKYY Omega Ratio Rank: 26
SKYY Calmar Ratio Rank: 21
SKYY Martin Ratio Rank: 19

QCLN

QCLN Risk / Return Rank: 89
QCLN Sharpe Ratio Rank: 93
QCLN Sortino Ratio Rank: 84
QCLN Omega Ratio Rank: 79
QCLN Calmar Ratio Rank: 94
QCLN Martin Ratio Rank: 94

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. QCLN - 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 NASDAQ Clean Edge Green Energy Index Fund (QCLN). 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	QCLN	Difference
Sharpe ratio: Return per unit of total volatility	0.95	3.49	-2.54
Sortino ratio: Return per unit of downside risk	1.48	3.86	-2.38
Omega ratio: Gain probability vs. loss probability	1.18	1.48	-0.30
Calmar ratio: Return relative to maximum drawdown	0.96	7.62	-6.66
Martin ratio: Return relative to average drawdown	2.16	26.28	-24.13
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. QCLN - Sharpe Ratio Comparison

The current SKYY Sharpe Ratio is 0.95, which is lower than the QCLN Sharpe Ratio of 3.49. The chart below compares the historical Sharpe Ratios of SKYY and QCLN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SKYY	QCLN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	3.49	-2.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.06	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.50	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.20	+0.38

Drawdowns

SKYY vs. QCLN - Drawdown Comparison

The maximum SKYY drawdown since its inception was -53.20%, smaller than the maximum QCLN drawdown of -76.18%. Use the drawdown chart below to compare losses from any high point for SKYY and QCLN.

Drawdown Indicators

	SKYY	QCLN	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-76.18%	+22.98%
Max Drawdown (1Y) Largest decline over 1 year	-27.39%	-15.86%	-11.53%
Max Drawdown (3Y) Largest decline over 3 years	-31.80%	-56.08%	+24.28%
Max Drawdown (5Y) Largest decline over 5 years	-53.20%	-69.49%	+16.29%
Max Drawdown (10Y) Largest decline over 10 years	-53.20%	-71.73%	+18.53%
Current Drawdown Current decline from peak	-4.79%	-20.99%	+16.20%
Average Drawdown Average peak-to-trough decline	-10.90%	-43.45%	+32.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.20%	4.59%	+7.61%

Volatility

SKYY vs. QCLN - Volatility Comparison

The current volatility for First Trust ISE Cloud Computing Index Fund (SKYY) is 11.77%, while First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) has a volatility of 12.56%. This indicates that SKYY experiences smaller price fluctuations and is considered to be less risky than QCLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYY	QCLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.77%	12.56%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	23.23%	26.02%	-2.79%
Volatility (1Y) Calculated over the trailing 1-year period	27.86%	34.88%	-7.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.58%	37.97%	-7.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.85%	34.91%	-8.06%

SKYY vs. QCLN - Expense Ratio Comparison

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

Dividends

SKYY vs. QCLN - Dividend Comparison

SKYY has not paid dividends to shareholders, while QCLN's dividend yield for the trailing twelve months is around 0.15%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QCLN First Trust NASDAQ Clean Edge Green Energy Index Fund	0.15%	0.25%	0.87%	0.76%	0.33%	0.01%	0.30%	0.85%	1.03%	0.45%	1.24%	0.72%
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 QCLN in my portfolio?

SKYY and QCLN have a correlation of 0.43, 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 QCLN?

QCLN has higher volatility (12.56%) compared to SKYY (11.77%). In terms of maximum drawdown, SKYY dropped -53.20% vs QCLN's -76.18%.

Which ETF is better, SKYY or QCLN?

On 10-year performance, QCLN leads with 17.39% vs 17.20% for SKYY. Both ETFs have the same 0.60% expense ratio. On volatility, SKYY has been the lower-risk option at 11.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKYY or QCLN?

Over the 10-year period, QCLN has performed better with a 17.39% return vs 17.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKYY or QCLN?

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

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

QCLN has the higher dividend yield at 0.15%, compared with 0.00% for SKYY.

What is the main difference between SKYY and QCLN?

SKYY is categorized as Technology Equities, while QCLN is Alternative Energy Equities. SKYY tracks ISE Cloud Computing Index, while QCLN tracks NASDAQ Clean Edge Green Energy.

Which has better risk-adjusted returns?

QCLN currently has the higher Sharpe Ratio (3.49 vs 0.95), 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.