SKYY vs. RDW
SKYY (First Trust ISE Cloud Computing Index Fund) is Technology Equities fund tracking the ISE Cloud Computing Index, while RDW (Redwire Corporation) is a stock. Over the past 3 years, SKYY returned 20.38%/yr vs 79.83%/yr for RDW. At a 0.43 correlation, their price movements are largely independent.
Performance
SKYY vs. RDW - Performance Comparison
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Returns By Period
In the year-to-date period, SKYY achieves a 3.03% return, which is significantly lower than RDW's 98.95% return.
SKYY
- 1D
- 0.18%
- 1M
- 4.62%
- YTD
- 3.03%
- 6M
- 1.79%
- 1Y
- 15.87%
- 3Y*
- 20.38%
- 5Y*
- 5.69%
- 10Y*
- 16.26%
RDW
- 1D
- -11.53%
- 1M
- 8.08%
- YTD
- 98.95%
- 6M
- 107.41%
- 1Y
- -20.75%
- 3Y*
- 79.83%
- 5Y*
- —
- 10Y*
- —
SKYY vs. RDW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SKYY First Trust ISE Cloud Computing Index Fund | 3.03% | 9.20% | 35.87% | 52.18% | -44.68% | -4.74% |
RDW Redwire Corporation | 98.95% | -53.83% | 477.54% | 43.94% | -70.67% | -34.15% |
Correlation
The correlation between SKYY and RDW is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Sep 2, 2021 | 0.43 |
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Return for Risk
SKYY vs. RDW — Risk / Return Rank
SKYY
RDW
SKYY vs. RDW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust ISE Cloud Computing Index Fund (SKYY) and Redwire Corporation (RDW). 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 | RDW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.68 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.07 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.51 | -0.29 | +0.80 |
| Martin ratioReturn relative to average drawdown | 1.13 | -0.42 | +1.55 |
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Drawdowns
SKYY vs. RDW - Drawdown Comparison
The maximum SKYY drawdown since its inception was -53.20%, smaller than the maximum RDW drawdown of -87.26%. Use the drawdown chart below to compare losses from any high point for SKYY and RDW.
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Drawdown Indicators
| SKYY | RDW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.20% | -87.26% | +34.06% |
Max Drawdown (1Y)Largest decline over 1 year | -27.39% | -75.40% | +48.01% |
Max Drawdown (3Y)Largest decline over 3 years | -31.80% | -80.28% | +48.48% |
Max Drawdown (5Y)Largest decline over 5 years | -53.20% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -53.20% | — | — |
Current DrawdownCurrent decline from peak | -13.63% | -41.62% | +27.99% |
Average DrawdownAverage peak-to-trough decline | -10.90% | -59.30% | +48.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.34% | 51.88% | -39.54% |
Volatility
SKYY vs. RDW - Volatility Comparison
The current volatility for First Trust ISE Cloud Computing Index Fund (SKYY) is 13.09%, while Redwire Corporation (RDW) has a volatility of 53.68%. This indicates that SKYY experiences smaller price fluctuations and is considered to be less risky than RDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SKYY | RDW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.09% | 53.68% | -40.59% |
Volatility (6M)Calculated over the trailing 6-month period | 23.88% | 94.49% | -70.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.45% | 118.63% | -90.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.67% | 96.83% | -66.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.90% | 96.83% | -69.93% |
Dividends
SKYY vs. RDW - Dividend Comparison
Neither SKYY nor RDW has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RDW Redwire Corporation | 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
SKYY and RDW have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RDW has higher volatility (53.68%) compared to SKYY (13.09%). In terms of maximum drawdown, SKYY dropped -53.20% vs RDW's -87.26%.
SKYY currently has the higher Sharpe Ratio (0.49 vs -0.18), 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.
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