WISE vs. CLOD

Last updated Jul 15, 2026

WISE (Themes Generative Artificial Intelligence ETF) and CLOD (Themes Cloud Computing ETF) are both Technology Equities funds from Themes - WISE tracks the Solactive Generative Artificial Intelligence Index - Benchmark TR Gross while CLOD tracks the Solactive Cloud Technology Index. Both are passively managed. Over the past year, WISE returned 3.35% vs -4.57% for CLOD. A 0.71 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

WISE vs. CLOD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Generative Artificial Intelligence ETF (WISE) and Themes Cloud Computing ETF (CLOD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WISE achieves a -6.53% return, which is significantly lower than CLOD's -1.88% return.

WISE

• 1D: 1.05%
• 1M: -8.44%
• 6M: -11.66%
• YTD: -6.53%
• 1Y: 3.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CLOD

• 1D: 1.12%
• 1M: 3.76%
• 6M: -1.02%
• YTD: -1.88%
• 1Y: -4.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WISE vs. CLOD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WISE Themes Generative Artificial Intelligence ETF	-6.53%	5.88%	40.45%	2.59%
CLOD Themes Cloud Computing ETF	-1.88%	7.53%	21.03%	0.77%

Correlation

The correlation between WISE and CLOD is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (All Time) Calculated using the full available price history since Dec 15, 2023	0.71

The correlation between WISE and CLOD has been stable across timeframes, ranging from 0.64 to 0.71 - a consistent structural relationship.

WISE vs. CLOD - Sectors Allocation Comparison

Sectors	WISE	CLOD
Technology	91.4%	82.0%
Consumer Cyclical	3.5%	7.1%
Communication Services	2.7%	7.9%
Industrials	1.4%	1.4%
Healthcare	0.7%	-
Utilities	0.4%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.6%
Real Estate	-	-

Return for Risk

WISE vs. CLOD — Risk / Return Rank

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

WISE

WISE Risk / Return Rank: 11
WISE Sharpe Ratio Rank: 11
WISE Sortino Ratio Rank: 12
WISE Omega Ratio Rank: 12
WISE Calmar Ratio Rank: 11
WISE Martin Ratio Rank: 10

CLOD

CLOD Risk / Return Rank: 8
CLOD Sharpe Ratio Rank: 8
CLOD Sortino Ratio Rank: 7
CLOD Omega Ratio Rank: 7
CLOD Calmar Ratio Rank: 8
CLOD Martin Ratio Rank: 8

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.

WISE vs. CLOD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Generative Artificial Intelligence ETF (WISE) and Themes Cloud Computing ETF (CLOD). 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.

	WISE	CLOD	Difference
Sharpe ratio: Return per unit of total volatility	0.10	-0.18	+0.28
Sortino ratio: Return per unit of downside risk	0.37	-0.07	+0.44
Omega ratio: Gain probability vs. loss probability	1.04	0.99	+0.05
Calmar ratio: Return relative to maximum drawdown	0.10	-0.15	+0.25
Martin ratio: Return relative to average drawdown	0.22	-0.31	+0.53

WISE vs. CLOD - Sharpe Ratio Comparison

The current WISE Sharpe Ratio is 0.10, which is higher than the CLOD Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of WISE and CLOD, 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

WISE vs. CLOD - Drawdown Comparison

The maximum WISE drawdown since its inception was -39.15%, which is greater than CLOD's maximum drawdown of -31.36%. Use the drawdown chart below to compare losses from any high point for WISE and CLOD.

Drawdown Indicators

	WISE	CLOD	Difference
Max Drawdown Largest peak-to-trough decline	-39.15%	-31.36%	-7.79%
Max Drawdown (1Y) Largest decline over 1 year	-34.08%	-31.36%	-2.72%
Current Drawdown Current decline from peak	-20.43%	-11.45%	-8.98%
Average Drawdown Average peak-to-trough decline	-12.05%	-7.75%	-4.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.11%	14.98%	+0.13%

Volatility

WISE vs. CLOD - Volatility Comparison

Themes Generative Artificial Intelligence ETF (WISE) has a higher volatility of 9.59% compared to Themes Cloud Computing ETF (CLOD) at 7.04%. This indicates that WISE's price experiences larger fluctuations and is considered to be riskier than CLOD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WISE	CLOD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.59%	7.04%	+2.55%
Volatility (6M) Calculated over the trailing 6-month period	26.33%	22.71%	+3.62%
Volatility (1Y) Calculated over the trailing 1-year period	33.90%	25.97%	+7.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.87%	24.53%	+9.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.87%	24.53%	+9.34%

WISE vs. CLOD - Expense Ratio Comparison

Both WISE and CLOD have an expense ratio of 0.35%.

Dividends

WISE vs. CLOD - Dividend Comparison

WISE's dividend yield for the trailing twelve months is around 4.41%, more than CLOD's 1.50% yield.

Position	TTM	2025
CLOD Themes Cloud Computing ETF	1.50%	1.47%
WISE Themes Generative Artificial Intelligence ETF	4.41%	4.12%

Frequently Asked Questions

Can I hold both WISE and CLOD in my portfolio?

WISE and CLOD have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WISE or CLOD?

WISE has higher volatility (9.59%) compared to CLOD (7.04%). In terms of maximum drawdown, WISE dropped -39.15% vs CLOD's -31.36%.

Which ETF is better, WISE or CLOD?

On 1-year performance, WISE leads with 3.35% vs -4.57% for CLOD. Both ETFs have the same 0.35% expense ratio. On volatility, CLOD has been the lower-risk option at 7.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WISE or CLOD?

Over the 1-year period, WISE has performed better with a 3.35% return vs -4.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WISE or CLOD?

WISE and CLOD have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, WISE or CLOD?

WISE has the higher dividend yield at 4.41%, compared with 1.50% for CLOD.

What is the main difference between WISE and CLOD?

WISE tracks Solactive Generative Artificial Intelligence Index - Benchmark TR Gross, while CLOD tracks Solactive Cloud Technology Index.

Which has better risk-adjusted returns?

WISE currently has the higher Sharpe Ratio (0.10 vs -0.18), 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.