CLOD vs SKYY: Grades, Fees and Holdings Compared

Themes Cloud Computing ETF

CLODCNasdaq

First Trust Cloud Computing ETF

SKYYBNasdaq

Overlap

31.6%by weight

Expense ratio

CLOD −0.25pt a year

CLOD0.35%SKYY0.60%

Avg volume · 30D

SKYY 526.4×the volume

CLOD484SKYY255K

CLOD vs SKYY Performance

Oct 31, 2025 – Oct 30, 2026

−6.5%CLOD+12.1%SKYY

Expense ratio: CLOD 0.35%, better; SKYY 0.60%
Fund size: CLOD $2M; SKYY $3.31B
1Y total return: CLOD −6.5%; SKYY +12.1%, better
Yield (12M): CLOD No data; SKYY 0.00%
Holdings: CLOD 56; SKYY 66
Avg volume (30D): CLOD 484 sh; SKYY 255K sh, better
NAV per share: CLOD $33.37; SKYY $159.91
52W range

ETF.net Grade

Pillar letters and Scores for CLOD, SKYY, with each pillar’s weight
Pillar	CLOD	SKYY
Cost30% weight	A87Higher	D35
Mission25% weight	A94	Not scored
Risk15% weight	C46	B58Higher
Tradability15% weight	D30	A88Higher
Holdings10% weight	C51	A74Higher
Durability5% weight	D31	A85Higher

Rank among Cloud & Software funds

How we build Categories ›

Same Category. CLOD and SKYY 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 ›

SKYY ranks 2nd 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

SKYYBFirst Trust 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.

SKYY The veteran cloud play. SKYY has tracked the ISE CTA Cloud Computing Index since 2011, bundling roughly 60 companies that rent out computing power instead of selling boxes.

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.

SKYY The Fund seeks results generally corresponding, before fees and expenses, to the price and yield of the ISE CTA Cloud ComputingTM Index. The index is designed to track companies involved in the cloud computing industry.

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.

SKYY Trading since 2011, so its live record spans full market cycles instead of one hot stretch for the theme.
A multi-billion-dollar fund that changes hands regularly, which generally means ordinary-size orders find a market without drama.
Rules-based index, roughly 60 names: wide enough to spread the bet across cloud providers and users, tight enough to still feel like a theme.
Sits in the upper half of its cloud-software peer group on our review.

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.

SKYY At 0.60% a year it runs above the cloud cohort's median fee, and above FCLD (0.39%) and WCLD (0.45%).
Not an income vehicle: distributions have not been part of the recent picture, so the whole story is price.
One theme, roughly 60 mostly-tech stocks. It swings harder than a broad market fund, in both directions.

Full CLOD profile⁠

Full SKYY profile⁠

CLOD vs SKYY Holdings

How CLOD and SKYY differ

Overlap by weight

31.6%

Shared holdings make up 65.3% of CLOD and 44.0% of SKYY.

Level by level

Holdings25 in both31.6%
Countryby domicile89.1%
Sector6 Sectors94.2%
Asset classEquity100%

Sector

Sector weights in CLOD and SKYY, widest gap first
Sector	More in CLODMore in SKYY	CLOD	SKYY
Consumer Discretionary	CLOD +5.4 points	8.7%	3.3%
Technology	SKYY +4.7 points	83.1%	87.8%
Health Care	SKYY +0.6 points	0.0%	0.6%
Communication	SKYY +0.5 points	7.8%	8.3%
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 SKYY, widest gap first
Country	More in CLODMore in SKYY	CLOD	SKYY
United States	SKYY +8.4 points	87.9%	96.3%
Germany	CLOD +4.9 points	6.1%	1.2%
Brazil	CLOD +2.8 points	2.8%	0.0%
Canada	SKYY +2.5 points	0.0%	2.5%
Netherlands	CLOD +1.7 points	1.7%	0.0%
Sweden	CLOD +0.8 points	0.8%	0.0%
France	CLOD +0.7 points	0.7%	0.0%

Concentration

Weight in the 10 largest Holdings

CLOD48.0%
SKYY34.0%

Securities held

CLOD56
SKYY65

Asset class

CLOD: Equity
SKYY: Equity

Holdings

Only in CLOD31
In both25
Only in SKYY40

Only in CLOD

31 securities, 34.7% of CLOD by weight

Sap SE6.35%
Cadence Design Systems Inc3.36%
Synopsys Inc3.29%
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%
Hexagon AB0.85%
F5 Inc0.71%
Dassault Systemes SE0.71%
Dynatrace Inc0.64%
Gen Digital Inc0.57%
GoDaddy Inc0.53%
Samsara Inc0.50%
InterDigital Inc0.28%
Commvault Systems Inc0.25%
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 SKYY

40 securities, 55.9% of SKYY by weight

Everpure, Inc. (Class A)4.86%
International Business Machines Corporation3.92%
Arista Networks, Inc.3.07%
Netskope, Inc. (Class A)2.82%
Lumen Technologies, Inc.2.31%
Cisco Systems, Inc.2.24%
RingCentral, Inc. (Class A)2.08%
GitLab Inc. (Class A)2.07%
SentinelOne, Inc. (Class A)2.02%
NetApp, Inc.1.91%
Shopify Inc. (Class A)1.90%
Hewlett Packard Enterprise Company1.88%
Workiva Inc.1.86%
Fastly, Inc. (Class A)1.80%
Dell Technologies Inc. (Class C)1.65%
Five9, Inc.1.61%
HubSpot, Inc.1.60%
ServiceTitan, Inc. (Class A)1.53%
Sap SE (Adr)1.26%
Appian Corporation1.09%
Wix.com Ltd.1.04%
DocuSign, Inc.0.74%
Box, Inc. (Class A)0.72%
Qualys, Inc.0.71%
Blackbaud, Inc.0.66%
Paycom Software, Inc.0.66%
Veeva Systems Inc. (Class A)0.65%
Asana, Inc. (Class A)0.65%
Paylocity Holding Corporation0.63%
Open Text Corporation0.63%
Q2 Holdings, Inc.0.61%
Dropbox, Inc. (Class A)0.61%
BlackLine, Inc.0.60%
Elastic N.V.0.59%
Klaviyo, Inc. (Class A)0.58%
Toast, Inc. (Class A)0.55%
AppFolio, Inc. (Class A)0.54%
The Trade Desk, Inc. (Class A)0.53%
Figma, Inc. (Class A)0.47%
Rackspace Technology, Inc.0.24%

Weight gaps

All 25 Holdings in both funds, largest gap first.

Holding weights in CLOD and SKYY, widest gap first
Holding	More in CLODMore in SKYY	CLOD	SKYY
Crowdstrike Holdings IncCRWD	CLOD +4.91 points	5.55%	0.64%
Palo Alto Networks IncPANW	CLOD +4.27 points	4.84%	0.57%
Salesforce IncCRM	CLOD +4.25 points	5.83%	1.58%
Snowflake IncSNOW	CLOD +3.24 points	3.79%	0.55%
Nutanix IncNTNX	SKYY +2.89 points	0.60%	3.49%
Intuit IncINTU	CLOD +2.78 points	3.34%	0.56%
ServiceNow IncNOW	CLOD +2.77 points	4.03%	1.26%
DigitalOcean Holdings IncDOCN	SKYY +2.60 points	0.28%	2.88%
Datadog IncDDOG	CLOD +2.20 points	2.79%	0.59%
Adobe IncADBE	CLOD +2.18 points	3.70%	1.52%
Microsoft CorpMSFT	CLOD +2.10 points	5.76%	3.66%
Rubrik IncRBRK	SKYY +1.69 points	0.68%	2.37%
Akamai Technologies IncAKAM	SKYY +1.53 points	0.49%	2.02%
CoreWeave IncCRWV	SKYY +1.30 points	0.62%	1.92%
MongoDB IncMDB	SKYY +1.29 points	1.02%	2.31%
Cloudflare IncNET	CLOD +1.10 points	3.28%	2.18%
Amazon.com IncAMZN	CLOD +0.89 points	4.18%	3.29%
Workday IncWDAY	CLOD +0.85 points	1.44%	0.59%
Oracle CorpORCL	CLOD +0.82 points	3.94%	3.12%
Atlassian CorpTEAM	SKYY +0.64 points	1.12%	1.76%
AppLovin CorpAPP	CLOD +0.56 points	1.86%	1.30%
Twilio IncTWLO	SKYY +0.47 points	1.08%	1.55%
Zoom Communications IncZM	CLOD +0.37 points	0.96%	0.59%
Alphabet IncGOOGL	CLOD +0.34 points	3.27%	2.93%
Zscaler IncZS	CLOD +0.13 points	0.88%	0.75%

All 51 CLOD holdings⁠All 65 SKYY 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 SKYY Cost

Overpaying SKYY vs CLOD

$4,691

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

CLOD 0.35%
$7,126
SKYY 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

CLOD 0.35%
SKYY 0.60%
Overpaying

Year by year

Year	CLOD	SKYY	Overpaying
10	$634	$1,076	$442
20	$2,454	$4,116	$1,662
30	$7,126	$11,817	$4,691

Expense ratio

0.35%CLOD, cheaper
0.60%SKYY

CLOD0.35%SKYY0.60%

0.35%0.68%

Middle half of Cloud & Software funds
Median 0.45%

CLOD cheapest of 5 funds

SKYY 4th cheapest of 5 funds

CLOD vs SKYY Dividends

Last 12 months to Oct 30, 2026

Yield (12M): CLOD No data; SKYY 0.00%
Payout (12M): CLOD No data; SKYY None
Last payment: CLOD $0.48; SKYY No data
Ex-dividend: CLOD Dec 18, 2025; SKYY No data
Paid on: CLOD Dec 19, 2025; SKYY No data
Frequency: CLOD Irregular; SKYY No data

Distribution history

Per share, 2017 to 2026, same scale for both

CLODIrregular · 1 paymentAll CLOD payments⁠

SKYY24 paymentsAll SKYY payments⁠

CLOD vs SKYY 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 2024SKYY 26.3%
Return per unit of riskSharpe ratio, 3 years: CLOD 0.35since Jan 2024SKYY 0.96
Worst fallMax drawdown, 5 years: CLOD −31.4%since Dec 2023SKYY −53.2%
Market sensitivityBeta, 5 years: CLOD 1.15SKYY 1.27; Market = 1

CLOD and SKYY in the news

All news⁠

Deep Dive
Chip funds rose 2.5% as software ETFs fell 4.5%
Sep 5, 2026SKYY

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