SKYY vs. VOX

Last updated Jun 4, 2026

SKYY (First Trust ISE Cloud Computing Index Fund) and VOX (Vanguard Communication Services ETF) are both Technology Equities funds - SKYY tracks the ISE Cloud Computing Index while VOX tracks the MSCI US Investable Market Telecommunication Services 25/50 Index. Both are passively managed. Over the past 10 years, SKYY returned 17.20%/yr vs 9.30%/yr for VOX. A 0.67 correlation means they provide meaningful diversification when combined. SKYY charges 0.60%/yr vs 0.10%/yr for VOX.

Performance

SKYY vs. VOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust ISE Cloud Computing Index Fund (SKYY) and Vanguard Communication Services ETF (VOX). 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 higher than VOX's -1.38% return. Over the past 10 years, SKYY has outperformed VOX with an annualized return of 17.20%, while VOX has yielded a comparatively lower 9.30% annualized return.

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%

VOX

• 1D: -0.84%
• 1M: -2.77%
• YTD: -1.38%
• 6M: 0.47%
• 1Y: 20.55%
• 3Y*: 24.02%
• 5Y*: 7.58%
• 10Y*: 9.30%

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

SKYY vs. VOX - 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%
VOX Vanguard Communication Services ETF	-1.38%	26.27%	33.12%	44.81%	-38.85%	13.83%	29.12%	28.03%	-16.75%	-5.50%

Correlation

The correlation between SKYY and VOX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jul 7, 2011	0.67

The correlation between SKYY and VOX shifts across timeframes, from 0.48 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.

SKYY vs. VOX - Sectors Allocation Comparison

Sectors	SKYY	VOX
Technology	88.9%	1.2%
Communication Services	4.8%	98.4%
Consumer Cyclical	1.6%	0.2%
Healthcare	1.6%	0.0%
Industrials	1.6%	0.0%
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Real Estate	-	0.1%
Utilities	-	-

Return for Risk

SKYY vs. VOX — 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

VOX

VOX Risk / Return Rank: 35
VOX Sharpe Ratio Rank: 36
VOX Sortino Ratio Rank: 38
VOX Omega Ratio Rank: 35
VOX Calmar Ratio Rank: 30
VOX Martin Ratio Rank: 37

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. VOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust ISE Cloud Computing Index Fund (SKYY) and Vanguard Communication Services ETF (VOX). 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	VOX	Difference
Sharpe ratio: Return per unit of total volatility	0.95	1.34	-0.39
Sortino ratio: Return per unit of downside risk	1.48	2.00	-0.52
Omega ratio: Gain probability vs. loss probability	1.18	1.24	-0.06
Calmar ratio: Return relative to maximum drawdown	0.96	1.52	-0.56
Martin ratio: Return relative to average drawdown	2.16	5.83	-3.67
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. VOX - Sharpe Ratio Comparison

The current SKYY Sharpe Ratio is 0.95, which is comparable to the VOX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of SKYY and VOX, 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	VOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	1.34	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.36	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.45	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.43	+0.15

Drawdowns

SKYY vs. VOX - Drawdown Comparison

The maximum SKYY drawdown since its inception was -53.20%, smaller than the maximum VOX drawdown of -57.18%. Use the drawdown chart below to compare losses from any high point for SKYY and VOX.

Drawdown Indicators

	SKYY	VOX	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-57.18%	+3.98%
Max Drawdown (1Y) Largest decline over 1 year	-27.39%	-13.56%	-13.83%
Max Drawdown (3Y) Largest decline over 3 years	-31.80%	-21.15%	-10.65%
Max Drawdown (5Y) Largest decline over 5 years	-53.20%	-46.76%	-6.44%
Max Drawdown (10Y) Largest decline over 10 years	-53.20%	-46.76%	-6.44%
Current Drawdown Current decline from peak	-4.79%	-4.70%	-0.09%
Average Drawdown Average peak-to-trough decline	-10.90%	-11.91%	+1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.20%	3.54%	+8.66%

Volatility

SKYY vs. VOX - Volatility Comparison

First Trust ISE Cloud Computing Index Fund (SKYY) has a higher volatility of 11.77% compared to Vanguard Communication Services ETF (VOX) at 4.24%. This indicates that SKYY's price experiences larger fluctuations and is considered to be riskier than VOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYY	VOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.77%	4.24%	+7.53%
Volatility (6M) Calculated over the trailing 6-month period	23.23%	11.16%	+12.07%
Volatility (1Y) Calculated over the trailing 1-year period	27.86%	15.45%	+12.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.58%	21.15%	+9.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.85%	20.89%	+5.96%

SKYY vs. VOX - Expense Ratio Comparison

SKYY has a 0.60% expense ratio, which is higher than VOX's 0.10% expense ratio.

Dividends

SKYY vs. VOX - Dividend Comparison

SKYY has not paid dividends to shareholders, while VOX's dividend yield for the trailing twelve months is around 1.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VOX Vanguard Communication Services ETF	1.00%	0.95%	1.05%	1.03%	0.88%	0.93%	0.73%	0.90%	2.77%	3.83%	2.67%	3.55%

Frequently Asked Questions

Can I hold both SKYY and VOX in my portfolio?

SKYY and VOX have a correlation of 0.48, 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 VOX?

SKYY has higher volatility (11.77%) compared to VOX (4.24%). In terms of maximum drawdown, SKYY dropped -53.20% vs VOX's -57.18%.

Which ETF is better, SKYY or VOX?

On 10-year performance, SKYY leads with 17.20% vs 9.30% for VOX. On fees, VOX is cheaper at 0.10% per year. On volatility, VOX has been the lower-risk option at 4.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKYY or VOX?

Over the 10-year period, SKYY has performed better with a 17.20% return vs 9.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKYY or VOX?

VOX is cheaper with a 0.10% expense ratio, compared with 0.60% for SKYY.

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

VOX has the higher dividend yield at 1.00%, compared with 0.00% for SKYY.

What is the main difference between SKYY and VOX?

SKYY tracks ISE Cloud Computing Index, while VOX tracks MSCI US Investable Market Telecommunication Services 25/50 Index. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.60% for SKYY and 0.10% for VOX.

Which has better risk-adjusted returns?

VOX currently has the higher Sharpe Ratio (1.34 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.