WCLD vs. SKYY

Last updated Jun 23, 2026

WCLD (WisdomTree Cloud Computing Fund) and SKYY (First Trust ISE Cloud Computing Index Fund) are both Technology Equities funds - WCLD tracks the BVP Nasdaq Emerging Cloud Index while SKYY tracks the ISE Cloud Computing Index. Both are passively managed. Over the past 5 years, WCLD returned -12.45%/yr vs 4.44%/yr for SKYY. Their correlation of 0.92 suggests significant overlap in exposure. WCLD charges 0.45%/yr vs 0.60%/yr for SKYY.

Performance

WCLD vs. SKYY - Performance Comparison

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

Returns By Period

In the year-to-date period, WCLD achieves a -17.34% return, which is significantly lower than SKYY's -0.42% return.

WCLD

• 1D: -2.07%
• 1M: -4.21%
• YTD: -17.34%
• 6M: -19.59%
• 1Y: -16.51%
• 3Y*: -1.99%
• 5Y*: -12.45%
• 10Y*: —

SKYY

• 1D: -1.77%
• 1M: -2.62%
• YTD: -0.42%
• 6M: -2.85%
• 1Y: 12.89%
• 3Y*: 20.61%
• 5Y*: 4.44%
• 10Y*: 16.19%

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

WCLD vs. SKYY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
WCLD WisdomTree Cloud Computing Fund	-17.34%	-6.69%	7.35%	39.35%	-51.64%	-3.21%	109.71%	0.84%
SKYY First Trust ISE Cloud Computing Index Fund	-0.42%	9.20%	35.87%	52.18%	-44.68%	10.62%	57.77%	3.04%

Correlation

The correlation between WCLD and SKYY is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 6, 2019	0.92

The correlation between WCLD and SKYY has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

WCLD vs. SKYY - Sectors Allocation Comparison

Sectors	WCLD	SKYY
Technology	97.3%	88.9%
Healthcare	2.7%	1.6%
Communication Services	2.5%	4.8%
Basic Materials	-	-
Consumer Cyclical	-	1.6%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	1.6%
Real Estate	-	-
Utilities	-	-

Return for Risk

WCLD vs. SKYY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WCLD

WCLD Risk / Return Rank: 5
WCLD Sharpe Ratio Rank: 5
WCLD Sortino Ratio Rank: 5
WCLD Omega Ratio Rank: 5
WCLD Calmar Ratio Rank: 5
WCLD Martin Ratio Rank: 4

SKYY

SKYY Risk / Return Rank: 14
SKYY Sharpe Ratio Rank: 15
SKYY Sortino Ratio Rank: 15
SKYY Omega Ratio Rank: 15
SKYY Calmar Ratio Rank: 14
SKYY Martin Ratio Rank: 13

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.

WCLD vs. SKYY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Cloud Computing Fund (WCLD) and First Trust ISE Cloud Computing Index Fund (SKYY). 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.

	WCLD	SKYY	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	0.45	-0.92
Sortino ratio: Return per unit of downside risk	-0.47	0.83	-1.30
Omega ratio: Gain probability vs. loss probability	0.94	1.10	-0.16
Calmar ratio: Return relative to maximum drawdown	-0.48	0.47	-0.95
Martin ratio: Return relative to average drawdown	-1.09	1.03	-2.13

WCLD vs. SKYY - Sharpe Ratio Comparison

The current WCLD Sharpe Ratio is -0.47, which is lower than the SKYY Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of WCLD and SKYY, 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

WCLD vs. SKYY - Drawdown Comparison

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

Drawdown Indicators

	WCLD	SKYY	Difference
Max Drawdown Largest peak-to-trough decline	-64.90%	-53.20%	-11.70%
Max Drawdown (1Y) Largest decline over 1 year	-34.68%	-27.39%	-7.29%
Max Drawdown (3Y) Largest decline over 3 years	-42.06%	-31.80%	-10.26%
Max Drawdown (5Y) Largest decline over 5 years	-64.90%	-53.20%	-11.70%
Max Drawdown (10Y) Largest decline over 10 years	—	-53.20%	—
Current Drawdown Current decline from peak	-55.70%	-16.52%	-39.18%
Average Drawdown Average peak-to-trough decline	-35.65%	-10.90%	-24.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.14%	12.50%	+2.64%

Volatility

WCLD vs. SKYY - Volatility Comparison

WisdomTree Cloud Computing Fund (WCLD) has a higher volatility of 15.36% compared to First Trust ISE Cloud Computing Index Fund (SKYY) at 13.52%. This indicates that WCLD's price experiences larger fluctuations and is considered to be riskier than SKYY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCLD	SKYY	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.36%	13.52%	+1.84%
Volatility (6M) Calculated over the trailing 6-month period	30.45%	23.98%	+6.47%
Volatility (1Y) Calculated over the trailing 1-year period	35.27%	28.63%	+6.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.46%	30.73%	+6.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.41%	26.94%	+10.47%

WCLD vs. SKYY - Expense Ratio Comparison

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

Dividends

WCLD vs. SKYY - Dividend Comparison

Neither WCLD nor SKYY 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 WCLD and SKYY in my portfolio?

WCLD and SKYY have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WCLD or SKYY?

WCLD has higher volatility (15.36%) compared to SKYY (13.52%). In terms of maximum drawdown, WCLD dropped -64.90% vs SKYY's -53.20%.

Which ETF is better, WCLD or SKYY?

On 5-year performance, SKYY leads with 4.44% vs -12.45% for WCLD. On fees, WCLD is cheaper at 0.45% per year. On volatility, SKYY has been the lower-risk option at 13.52%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WCLD or SKYY?

Over the 5-year period, SKYY has performed better with a 4.44% return vs -12.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WCLD or SKYY?

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

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

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

What is the main difference between WCLD and SKYY?

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

Which has better risk-adjusted returns?

SKYY currently has the higher Sharpe Ratio (0.45 vs -0.47), 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.