SKYY vs. RNG

Last updated Aug 5, 2026

SKYY (First Trust ISE Cloud Computing Index Fund) is Technology Equities fund tracking the ISE CTA Cloud Computing Index, while RNG (RingCentral, Inc.) is a stock. Over the past 10 years, SKYY returned 16.86%/yr vs 9.74%/yr for RNG. Their 0.61 correlation means they have sometimes moved together and sometimes differently.

Performance

SKYY vs. RNG - Performance Comparison

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

Returns By Period

In the year-to-date period, SKYY achieves a 17.95% return, which is significantly lower than RNG's 110.77% return. Over the past 10 years, SKYY has outperformed RNG with an annualized return of 16.86%, while RNG has yielded a comparatively lower 9.74% annualized return.

SKYY

• 1D: 3.68%
• 1M: 13.77%
• 6M: 34.61%
• YTD: 17.95%
• 1Y: 26.63%
• 3Y*: 25.22%
• 5Y*: 7.49%
• 10Y*: 16.86%
• ALL TIME*: 14.65%

RNG

• 1D: 5.88%
• 1M: 51.64%
• 6M: 145.25%
• YTD: 110.77%
• 1Y: 155.87%
• 3Y*: 16.36%
• 5Y*: -24.61%
• 10Y*: 9.74%
• ALL TIME*: 10.31%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RNG RingCentral, Inc.	$180.19M	$115.76M	$88.77M
SKYY First Trust ISE Cloud Computing Index Fund	$42.28M	$41.99M	$50.20M

SKYY vs. RNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SKYY First Trust ISE Cloud Computing Index Fund	17.95%	9.20%	35.87%	52.18%	-44.68%	10.62%	57.77%	25.25%	6.01%	33.47%
RNG RingCentral, Inc.	110.77%	-17.51%	3.12%	-4.10%	-81.10%	-50.56%	124.68%	104.60%	70.33%	134.95%

Correlation

The correlation between SKYY and RNG is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.60
Correlation (3Y) Balances recent behavior with more history.	0.61
Correlation (5Y) Shows whether the relationship held over a longer period.	0.69
Correlation (10Y) Provides a long-term view across more market conditions.	0.64
Correlation (All Time) Calculated using the full available price history since Sep 27, 2013	0.61

The correlation between SKYY and RNG has been stable across timeframes, ranging from 0.60 to 0.69 - a consistent structural relationship.

Return for Risk

SKYY vs. RNG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SKYY

SKYY Risk / Return Rank: 30
SKYY Sharpe Ratio Rank: 33
SKYY Sortino Ratio Rank: 34
SKYY Omega Ratio Rank: 32
SKYY Calmar Ratio Rank: 28
SKYY Martin Ratio Rank: 24

RNG

RNG Risk / Return Rank: 93
RNG Sharpe Ratio Rank: 92
RNG Sortino Ratio Rank: 93
RNG Omega Ratio Rank: 91
RNG Calmar Ratio Rank: 95
RNG Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SKYY vs. RNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust ISE Cloud Computing Index Fund (SKYY) and RingCentral, Inc. (RNG). 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	RNG	Difference
Sharpe ratio: Return per unit of total volatility	0.91	2.09	-1.18
Sortino ratio: Return per unit of downside risk	1.44	3.22	-1.78
Omega ratio: Gain probability vs. loss probability	1.17	1.39	-0.22
Calmar ratio: Return relative to maximum drawdown	0.98	5.35	-4.37
Martin ratio: Return relative to average drawdown	2.03	12.35	-10.33

SKYY vs. RNG - Sharpe Ratio Comparison

The current SKYY Sharpe Ratio is 0.91, which is lower than the RNG Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of SKYY and RNG, 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. RNG - Drawdown Comparison

The maximum SKYY drawdown since its inception was -53.20%, smaller than the maximum RNG drawdown of -95.15%. Use the drawdown chart below to compare losses from any high point for SKYY and RNG.

Drawdown Indicators

	SKYY	RNG	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-95.15%	+41.95%
Max Drawdown (1Y) Largest decline over 1 year	-27.39%	-29.32%	+1.93%
Max Drawdown (3Y) Largest decline over 3 years	-31.80%	-48.57%	+16.77%
Max Drawdown (5Y) Largest decline over 5 years	-53.20%	-92.36%	+39.16%
Max Drawdown (10Y) Largest decline over 10 years	-53.20%	-95.15%	+41.95%
Current Drawdown Current decline from peak	-1.12%	-86.27%	+85.15%
Average Drawdown Average peak-to-trough decline	-10.91%	-42.89%	+31.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.18%	12.67%	+0.51%

Volatility

SKYY vs. RNG - Volatility Comparison

The current volatility for First Trust ISE Cloud Computing Index Fund (SKYY) is 8.03%, while RingCentral, Inc. (RNG) has a volatility of 28.30%. This indicates that SKYY experiences smaller price fluctuations and is considered to be less risky than RNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYY	RNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.03%	28.30%	-20.27%
Volatility (6M) Calculated over the trailing 6-month period	24.33%	59.69%	-35.36%
Volatility (1Y) Calculated over the trailing 1-year period	29.38%	74.89%	-45.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.96%	64.61%	-33.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.99%	56.55%	-29.56%

Dividends

SKYY vs. RNG - Dividend Comparison

SKYY has not paid dividends to shareholders, while RNG's dividend yield for the trailing twelve months is around 0.25%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RNG RingCentral, Inc.	0.25%	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 RNG in my portfolio?

SKYY and RNG have a correlation of 0.60, 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 RNG?

RNG has higher volatility (28.30%) compared to SKYY (8.03%). In terms of maximum drawdown, SKYY dropped -53.20% vs RNG's -95.15%.

Which has better risk-adjusted returns?

RNG currently has the higher Sharpe Ratio (2.09 vs 0.91), 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.