SKYY vs. WCLD

Last updated Aug 2, 2026

SKYY (First Trust ISE Cloud Computing Index Fund) and WCLD (WisdomTree Cloud Computing Fund) are both Technology Equities funds - SKYY tracks the ISE CTA Cloud Computing Index while WCLD tracks the BVP Nasdaq Emerging Cloud Index. Both are passively managed. Over the past 5 years, SKYY returned 6.39%/yr vs -9.16%/yr for WCLD. Their correlation of 0.91 means they have usually moved in the same direction. SKYY charges 0.60%/yr vs 0.45%/yr for WCLD.

Performance

SKYY vs. WCLD - Performance Comparison

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

Returns By Period

In the year-to-date period, SKYY achieves a 9.93% return, which is significantly higher than WCLD's 1.37% return.

SKYY

• 1D: 2.12%
• 1M: 6.04%
• 6M: 20.04%
• YTD: 9.93%
• 1Y: 20.42%
• 3Y*: 20.89%
• 5Y*: 6.39%
• 10Y*: 16.36%
• ALL TIME*: 14.13%

WCLD

• 1D: 1.57%
• 1M: 5.88%
• 6M: 17.87%
• YTD: 1.37%
• 1Y: 4.38%
• 3Y*: 1.24%
• 5Y*: -9.16%
• 10Y*: —
• ALL TIME*: 5.00%

*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)
SKYY First Trust ISE Cloud Computing Index Fund	$39.47M	$38.49M	$49.10M
WCLD WisdomTree Cloud Computing Fund	$33.74M	$31.40M	$33.73M

SKYY vs. WCLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SKYY First Trust ISE Cloud Computing Index Fund	9.93%	9.20%	35.87%	52.18%	-44.68%	10.62%	57.77%	3.04%
WCLD WisdomTree Cloud Computing Fund	1.37%	-6.69%	7.35%	39.35%	-51.64%	-3.21%	109.71%	0.84%

Correlation

The correlation between SKYY and WCLD is 0.84, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.84
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (All Time) Calculated using the full available price history since Sep 6, 2019	0.91

The correlation between SKYY and WCLD has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.

SKYY vs. WCLD - Sectors Allocation Comparison

Sectors	SKYY	WCLD
Technology	92.2%	97.2%
Communication Services	3.1%	2.5%
Consumer Cyclical	1.6%	-
Healthcare	1.6%	2.8%
Industrials	1.6%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

SKYY vs. WCLD — Risk / Return Rank

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

SKYY

SKYY Risk / Return Rank: 23
SKYY Sharpe Ratio Rank: 25
SKYY Sortino Ratio Rank: 26
SKYY Omega Ratio Rank: 25
SKYY Calmar Ratio Rank: 21
SKYY Martin Ratio Rank: 20

WCLD

WCLD Risk / Return Rank: 12
WCLD Sharpe Ratio Rank: 12
WCLD Sortino Ratio Rank: 14
WCLD Omega Ratio Rank: 13
WCLD Calmar Ratio Rank: 11
WCLD Martin Ratio Rank: 11

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. WCLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust ISE Cloud Computing Index Fund (SKYY) and WisdomTree Cloud Computing Fund (WCLD). 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	WCLD	Difference
Sharpe ratio: Return per unit of total volatility	0.56	0.04	+0.52
Sortino ratio: Return per unit of downside risk	0.98	0.32	+0.66
Omega ratio: Gain probability vs. loss probability	1.12	1.04	+0.08
Calmar ratio: Return relative to maximum drawdown	0.59	0.04	+0.55
Martin ratio: Return relative to average drawdown	1.23	0.09	+1.14

SKYY vs. WCLD - Sharpe Ratio Comparison

The current SKYY Sharpe Ratio is 0.56, which is higher than the WCLD Sharpe Ratio of 0.04. The chart below compares the historical Sharpe Ratios of SKYY and WCLD, 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. WCLD - Drawdown Comparison

The maximum SKYY drawdown since its inception was -53.20%, smaller than the maximum WCLD drawdown of -64.90%. Use the drawdown chart below to compare losses from any high point for SKYY and WCLD.

Drawdown Indicators

	SKYY	WCLD	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-64.90%	+11.70%
Max Drawdown (1Y) Largest decline over 1 year	-27.39%	-34.68%	+7.29%
Max Drawdown (3Y) Largest decline over 3 years	-31.80%	-42.06%	+10.26%
Max Drawdown (5Y) Largest decline over 5 years	-53.20%	-64.90%	+11.70%
Max Drawdown (10Y) Largest decline over 10 years	-53.20%	—	—
Current Drawdown Current decline from peak	-7.84%	-45.68%	+37.84%
Average Drawdown Average peak-to-trough decline	-10.91%	-35.87%	+24.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.18%	15.43%	-2.25%

Volatility

SKYY vs. WCLD - Volatility Comparison

The current volatility for First Trust ISE Cloud Computing Index Fund (SKYY) is 6.97%, while WisdomTree Cloud Computing Fund (WCLD) has a volatility of 10.36%. This indicates that SKYY experiences smaller price fluctuations and is considered to be less risky than WCLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYY	WCLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.97%	10.36%	-3.39%
Volatility (6M) Calculated over the trailing 6-month period	23.96%	31.49%	-7.53%
Volatility (1Y) Calculated over the trailing 1-year period	29.23%	36.94%	-7.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.87%	37.79%	-6.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.94%	37.43%	-10.49%

SKYY vs. WCLD - Expense Ratio Comparison

SKYY has a 0.60% expense ratio, which is higher than WCLD's 0.45% expense ratio.

Dividends

SKYY vs. WCLD - Dividend Comparison

Neither SKYY nor WCLD has paid dividends to shareholders.

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%
WCLD WisdomTree Cloud Computing Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SKYY and WCLD in my portfolio?

SKYY and WCLD have a correlation of 0.84, 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 WCLD?

WCLD has higher volatility (10.36%) compared to SKYY (6.97%). In terms of maximum drawdown, SKYY dropped -53.20% vs WCLD's -64.90%.

Which ETF is better, SKYY or WCLD?

On 5-year performance, SKYY leads with 6.39% vs -9.16% for WCLD. On fees, WCLD is cheaper at 0.45% per year. On volatility, SKYY has been the lower-risk option at 6.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKYY or WCLD?

Over the 5-year period, SKYY has performed better with a 6.39% return vs -9.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKYY or WCLD?

WCLD is cheaper with a 0.45% expense ratio, compared with 0.60% for SKYY.

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

SKYY and WCLD have nearly identical dividend yields, around 0.00%.

What is the main difference between SKYY and WCLD?

SKYY tracks ISE CTA Cloud Computing Index, while WCLD tracks BVP Nasdaq Emerging Cloud Index. They also come from different issuers: First Trust and WisdomTree. Their fees differ too: 0.60% for SKYY and 0.45% for WCLD.

Which has better risk-adjusted returns?

SKYY currently has the higher Sharpe Ratio (0.56 vs 0.04), 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.