SKYY vs. XLKI

Last updated Aug 5, 2026

SKYY (First Trust ISE Cloud Computing Index Fund) and XLKI (State Street Technology Select Sector SPDR Premium Income ETF) are both Technology Equities funds. SKYY is passively managed, while XLKI is actively managed. Over the past year, SKYY returned 26.63% vs 28.81% for XLKI. Their 0.58 correlation means they have sometimes moved together and sometimes differently. SKYY charges 0.60%/yr vs 0.35%/yr for XLKI.

Performance

SKYY vs. XLKI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust ISE Cloud Computing Index Fund (SKYY) and State Street Technology Select Sector SPDR Premium Income ETF (XLKI). 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 higher than XLKI's 16.47% 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%

XLKI

• 1D: 3.82%
• 1M: 4.14%
• 6M: 15.99%
• YTD: 16.47%
• 1Y: 28.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 27.74%

*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	$42.28M	$41.99M	$50.20M
XLKI State Street Technology Select Sector SPDR Premium Income ETF	$534.51K	$420.37K	$346.02K

SKYY vs. XLKI - Yearly Performance Comparison

	2026 (YTD)	2025
SKYY First Trust ISE Cloud Computing Index Fund	17.95%	3.86%
XLKI State Street Technology Select Sector SPDR Premium Income ETF	16.47%	10.02%

Correlation

The correlation between SKYY and XLKI is 0.57, 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.	0.57
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.58

The correlation between SKYY and XLKI has been stable across timeframes, ranging from 0.57 to 0.58 - a consistent structural relationship.

SKYY vs. XLKI - Sectors Allocation Comparison

Sectors	SKYY	XLKI
Technology	92.2%	99.2%
Communication Services	3.1%	0.8%
Consumer Cyclical	1.6%	-
Healthcare	1.6%	-
Industrials	1.6%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	99.9%
Real Estate	-	-
Utilities	-	-

Return for Risk

SKYY vs. XLKI — 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

XLKI

XLKI Risk / Return Rank: 57
XLKI Sharpe Ratio Rank: 52
XLKI Sortino Ratio Rank: 49
XLKI Omega Ratio Rank: 53
XLKI Calmar Ratio Rank: 65
XLKI Martin Ratio Rank: 67

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. XLKI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust ISE Cloud Computing Index Fund (SKYY) and State Street Technology Select Sector SPDR Premium Income ETF (XLKI). 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	XLKI	Difference
Sharpe ratio: Return per unit of total volatility	0.91	1.43	-0.52
Sortino ratio: Return per unit of downside risk	1.44	1.99	-0.55
Omega ratio: Gain probability vs. loss probability	1.17	1.27	-0.10
Calmar ratio: Return relative to maximum drawdown	0.98	2.58	-1.60
Martin ratio: Return relative to average drawdown	2.03	9.03	-7.01

SKYY vs. XLKI - Sharpe Ratio Comparison

The current SKYY Sharpe Ratio is 0.91, which is lower than the XLKI Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of SKYY and XLKI, 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. XLKI - Drawdown Comparison

The maximum SKYY drawdown since its inception was -53.20%, which is greater than XLKI's maximum drawdown of -11.21%. Use the drawdown chart below to compare losses from any high point for SKYY and XLKI.

Drawdown Indicators

	SKYY	XLKI	Difference
Max Drawdown Largest peak-to-trough decline	-53.20%	-11.21%	-41.99%
Max Drawdown (1Y) Largest decline over 1 year	-27.39%	-11.21%	-16.18%
Max Drawdown (3Y) Largest decline over 3 years	-31.80%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-53.20%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-53.20%	—	—
Current Drawdown Current decline from peak	-1.12%	-1.83%	+0.71%
Average Drawdown Average peak-to-trough decline	-10.91%	-2.17%	-8.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.18%	3.20%	+9.98%

Volatility

SKYY vs. XLKI - Volatility Comparison

The current volatility for First Trust ISE Cloud Computing Index Fund (SKYY) is 8.03%, while State Street Technology Select Sector SPDR Premium Income ETF (XLKI) has a volatility of 9.12%. This indicates that SKYY experiences smaller price fluctuations and is considered to be less risky than XLKI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SKYY	XLKI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.03%	9.12%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	24.33%	17.88%	+6.45%
Volatility (1Y) Calculated over the trailing 1-year period	29.38%	20.25%	+9.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.96%	20.22%	+10.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.99%	20.22%	+6.77%

SKYY vs. XLKI - Expense Ratio Comparison

SKYY has a 0.60% expense ratio, which is higher than XLKI's 0.35% expense ratio.

Dividends

SKYY vs. XLKI - Dividend Comparison

SKYY has not paid dividends to shareholders, while XLKI's dividend yield for the trailing twelve months is around 18.96%.

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%
XLKI State Street Technology Select Sector SPDR Premium Income ETF	18.96%	8.52%	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 XLKI in my portfolio?

SKYY and XLKI have a correlation of 0.57, 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 XLKI?

XLKI has higher volatility (9.12%) compared to SKYY (8.03%). In terms of maximum drawdown, SKYY dropped -53.20% vs XLKI's -11.21%.

Which ETF is better, SKYY or XLKI?

On 1-year performance, XLKI leads with 28.81% vs 26.63% for SKYY. On fees, XLKI is cheaper at 0.35% per year. On volatility, SKYY has been the lower-risk option at 8.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SKYY or XLKI?

Over the 1-year period, XLKI has performed better with a 28.81% return vs 26.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKYY or XLKI?

XLKI is cheaper with a 0.35% expense ratio, compared with 0.60% for SKYY.

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

XLKI has the higher dividend yield at 18.96%, compared with 0.00% for SKYY.

What is the main difference between SKYY and XLKI?

They also come from different issuers: First Trust and State Street. Their fees differ too: 0.60% for SKYY and 0.35% for XLKI.

Which has better risk-adjusted returns?

XLKI currently has the higher Sharpe Ratio (1.43 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.