CLOD vs FCLD: Grades, Fees and Holdings Compared

Themes Cloud Computing ETF

CLODCNasdaq

Fidelity Cloud Computing ETF

FCLDBCboe

Overlap

30.3%by weight

Expense ratio

CLOD −0.04pt a year

CLOD0.35%FCLD0.39%

Avg volume · 30D

FCLD 60.4×the volume

CLOD484FCLD29.2K

CLOD vs FCLD Performance

Oct 31, 2025 – Oct 30, 2026

−6.5%CLOD+33.2%FCLD

Expense ratio: CLOD 0.35%, better; FCLD 0.39%
Fund size: CLOD $2M; FCLD $147M
1Y total return: CLOD −6.5%; FCLD +33.2%, better
Yield (12M): CLOD No data; FCLD 0.01%
Holdings: CLOD 56; FCLD 60
Avg volume (30D): CLOD 484 sh; FCLD 29.2K sh, better
NAV per share: CLOD $33.37; FCLD $41.57
52W range

ETF.net Grade

Pillar letters and Scores for CLOD, FCLD, with each pillar’s weight
Pillar	CLOD	FCLD
Cost30% weight	A87Higher	A71
Mission25% weight	A94	Not scored
Risk15% weight	C46	B68Higher
Tradability15% weight	D30	D31Higher
Holdings10% weight	C51	B64Higher
Durability5% weight	D31	B57Higher

Rank among Cloud & Software funds

How we build Categories ›

Same Category. CLOD and FCLD are both graded against the same 5 Cloud & Software funds, so their Grades compare head to head.

Cloud & Software⁠

Category · 5 funds

See all 5 ›

FCLD ranks 1st and CLOD 4th of 5 funds in the Cloud & Software Category.

Rank 1BFCLDFidelity Cloud Computing ETFScore 60
Rank 2BSKYYFirst Trust Cloud Computing ETFScore 58
Rank 3BWCLDWisdomTree Cloud Computing FundScore 57
Rank 4CCLODThemes Cloud Computing ETFScore 40
Rank 5DCLOUGlobal X Cloud Computing ETFScore 35

Our read on each fund

ETF.net Research

CLODCThemes Cloud Computing ETF

FCLDBFidelity Cloud Computing ETF

In short

CLOD Cloud computing, stripped down to the cheap version: about 50 names from the Solactive Cloud Computing Index for 0.35% a year. The trade-off is scale, since this is a small, thinly traded fund next to the category's veterans.

FCLD Fidelity built its own cloud index, then priced the fund under the older names in the category. Roughly 60 global cloud stocks, tracked passively, for 0.39% a year.

Stated mandate

CLOD The fund passively seeks to track, before fees and expenses, an index of companies operating in cloud computing. It generally invests at least 80% of its assets in index constituents or related ADRs and GDRs.

FCLD The fund seeks returns corresponding generally to the Fidelity Cloud Computing Index before fees and expenses. It normally invests at least 80% of assets in securities included in that index or related depositary receipts.

Why people hold it

CLOD At 0.35% a year it prices below the typical cloud ETF, and under bigger rivals like SKYY and WCLD for broadly similar shelf space.themesetfs.com
No stock-picking drama. It passively tracks the Solactive Cloud Computing Index and keeps at least 80% of assets in that basket or related depositary receipts.themesetfs.com
It has stayed close to the index it advertises, which is the entire job description for a passive fund.

FCLD 0.39% a year undercuts the cloud cohort's median fee and both of the category's better-known passive rivals, SKYY (0.60%) and WCLD (0.45%).
Rules-based, not a stock picker's whim: it tracks the Fidelity Cloud Computing Index and normally keeps at least 80% of assets in that index's names or their depositary receipts.
A global mandate and about 60 holdings, so the cloud bet spans more than one market without diluting into a generic tech basket.
Sits in the top quartile of the cloud-software funds we track on our overall assessment.

Worth knowing

CLOD A small asset base and light trading mean wider spreads than the category heavyweights. Some of the fee savings can come back out at the trade.
Launched December 2023, so the track record is short beside the long-standing cloud funds.
About 50 developed-market stocks in one theme. It moves with enterprise software sentiment, not the broad market.

FCLD Thinly traded and modest in size, so spreads and order execution deserve more attention here than with the category's heavyweights.
Launched in 2021, so the record is short compared with cloud funds that have been through more market cycles.
One theme, one asset class: a concentrated equity basket tied to cloud software, which is the whole point and the whole risk.

Full CLOD profile⁠

Full FCLD profile⁠

CLOD vs FCLD Holdings

How CLOD and FCLD differ

Overlap by weight

30.3%

Shared holdings make up 43.8% of FCLD and 36.3% of CLOD.

Level by level

Holdings17 in both30.3%
Countryby domicile89.2%
Sector6 Sectors90.1%
Asset classEquity100%

Sector

Sector weights in CLOD and FCLD, widest gap first
Sector	More in CLODMore in FCLD	CLOD	FCLD
Consumer Discretionary	CLOD +6.8 points	8.7%	1.9%
Real Estate	FCLD +6.2 points	0.0%	6.2%
Technology	FCLD +3.7 points	83.1%	86.8%
Communication	CLOD +2.7 points	7.8%	5.1%
Financials	CLOD +0.3 points	0.3%	0.0%
Industrials	CLOD +0.2 points	0.2%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in CLOD and FCLD, widest gap first
Country	More in CLODMore in FCLD	CLOD	FCLD
United States	FCLD +6.1 points	87.9%	94.0%
Germany	CLOD +5.3 points	6.1%	0.8%
Brazil	CLOD +2.8 points	2.8%	0.0%
Taiwan	FCLD +1.9 points	0.0%	1.9%
Netherlands	CLOD +1.7 points	1.7%	0.0%
China	FCLD +1.6 points	0.0%	1.6%
Israel	FCLD +1.3 points	0.0%	1.3%
Sweden	CLOD +0.8 points	0.8%	0.0%
France	CLOD +0.3 points	0.7%	0.4%

Concentration

Weight in the 10 largest Holdings

CLOD48.0%
FCLD38.1%

Securities held

CLOD56
FCLD53

Asset class

CLOD: Equity
FCLD: Equity

Holdings

Only in CLOD39
In both17
Only in FCLD36

Only in CLOD

39 securities, 63.8% of CLOD by weight

Sap SE6.35%
Crowdstrike Holdings Inc5.55%
Palo Alto Networks Inc4.84%
Oracle Corp3.94%
Adobe Inc3.70%
Cadence Design Systems Inc3.36%
Intuit Inc3.34%
Synopsys Inc3.29%
Cloudflare Inc3.28%
Alphabet Inc3.27%
Fortinet Inc3.09%
MercadoLibre Inc2.84%
Autodesk Inc1.97%
Prosus NV1.73%
Strategy Inc1.57%
Okta Inc1.32%
Paychex Inc1.31%
Nebius Group NV1.18%
VeriSign Inc0.89%
Zscaler Inc0.88%
Hexagon AB0.85%
F5 Inc0.71%
Dassault Systemes SE0.71%
Rubrik Inc0.68%
Gen Digital Inc0.57%
GoDaddy Inc0.53%
Samsara Inc0.50%
Akamai Technologies Inc0.49%
InterDigital Inc0.28%
Hut 8 Corp0.22%
Applied Digital Corp0.17%
Xometry Inc0.15%
First American Treasury Obligations Fund 01/01/20400.10%
Cipher Digital Inc0.09%
Japanese Yen<0.01%
Swedish Krona<0.01%
Euro<0.01%
Australian Dollar<0.01%
British Pounds<0.01%

Only in FCLD

36 securities, 57.8% of FCLD by weight

Dell Technologies Inc Class C3.84%
Sandisk Corporation3.80%
Seagate Techn Holdings PLC3.80%
Western Digital Corp3.62%
Equinix Inc3.53%
Everpure Inc-A3.20%
Digital Realty Trust Inc2.89%
Netapp Inc2.81%
Docusign Inc1.98%
Hon Hai Precision Ind Co Ltd1.91%
Elastic NV1.56%
Securities Lending Cf1.55%
Jfrog Ltd1.55%
Hubspot Inc1.54%
Gitlab Inc Class A1.47%
Box Inc Class A1.40%
Ringcentral Inc Class A1.34%
Zeta Global Holdings Corp1.32%
Nice Ltd1.32%
Dropbox Inc Class A1.20%
Teradata Corp1.11%
Trade Desk Inc1.10%
Monday.com Ltd1.04%
Uipath Inc A1.01%
FIVE9 Inc0.99%
Kingdee Intl Sftwre Grp Co Ltd0.97%
Appian Corp Class A0.95%
Pegasystems Inc0.90%
Ionos SE0.82%
Intapp Inc0.80%
Zoominfo Technologies Inc0.72%
Niq Global Intelligence PLC0.69%
Kingsoft Cloud Holdings Ltd0.60%
Ovh Groupe Sas0.43%
European Monetary Unit (Euro)<0.01%
Israel Sheckel<0.01%

Weight gaps

All 17 Holdings in both funds, largest gap first.

Holding weights in CLOD and FCLD, widest gap first
Holding	More in CLODMore in FCLD	CLOD	FCLD
Amazon.com IncAMZN	CLOD +2.29 points	4.18%	1.89%
Salesforce IncCRM	CLOD +1.84 points	5.83%	3.99%
Dynatrace IncDT	FCLD +1.38 points	0.64%	2.02%
Twilio IncTWLO	FCLD +1.37 points	1.08%	2.45%
Nutanix IncNTNX	FCLD +1.30 points	0.60%	1.90%
Commvault Systems IncCVLT	FCLD +1.27 points	0.25%	1.52%
Atlassian CorpTEAM	FCLD +1.26 points	1.12%	2.38%
MongoDB IncMDB	FCLD +1.22 points	1.02%	2.24%
Zoom Communications IncZM	FCLD +1.13 points	0.96%	2.09%
DigitalOcean Holdings IncDOCN	FCLD +1.03 points	0.28%	1.31%
Datadog IncDDOG	FCLD +1.02 points	2.79%	3.81%
Microsoft CorpMSFT	CLOD +1.02 points	5.76%	4.74%
Workday IncWDAY	FCLD +0.94 points	1.44%	2.38%
ServiceNow IncNOW	CLOD +0.85 points	4.03%	3.18%
CoreWeave IncCRWV	FCLD +0.82 points	0.62%	1.44%
AppLovin CorpAPP	FCLD +0.74 points	1.86%	2.60%
Snowflake IncSNOW	FCLD +0.03 points	3.79%	3.82%

All 51 CLOD holdings⁠All 58 FCLD holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CLOD vs FCLD Cost

Overpaying FCLD vs CLOD

$772

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

CLOD 0.35%
$7,126
FCLD 0.39%
$7,898

Amount$10,000

Years30 years

Cost over time

CLOD 0.35%
FCLD 0.39%
Overpaying

Year by year

Year	CLOD	FCLD	Overpaying
10	$634	$705	$71
20	$2,454	$2,725	$271
30	$7,126	$7,898	$772

Expense ratio

0.35%CLOD, cheaper
0.39%FCLD

CLOD0.35%FCLD0.39%

0.35%0.68%

Middle half of Cloud & Software funds
Median 0.45%

CLOD cheapest of 5 funds

FCLD 2nd cheapest of 5 funds

CLOD vs FCLD Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CLOD No data; FCLD 0.01%
Payout (12M): CLOD No data; FCLD $0.004
Last payment: CLOD $0.48; FCLD $0.004
Ex-dividend: CLOD Dec 18, 2025; FCLD Dec 19, 2025
Paid on: CLOD Dec 19, 2025; FCLD Dec 23, 2025
Frequency: CLOD Irregular; FCLD Twice a year

Distribution history

Per share, 2021 to 2026, same scale for both

CLODIrregular · 1 paymentAll CLOD payments⁠

FCLDTwice a year · 15 paymentsAll FCLD payments⁠

CLOD vs FCLD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: CLOD 24.2%since Jan 2024FCLD 27.4%
Return per unit of riskSharpe ratio, 3 years: CLOD 0.35since Jan 2024FCLD 0.98
Worst fallMax drawdown, 5 years: CLOD −31.4%since Dec 2023FCLD −50.9%
Market sensitivityBeta, 5 years: CLOD 1.15FCLD 1.56; Market = 1

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