FCLD vs SKYY: Grades, Fees and Holdings Compared

Fidelity Cloud Computing ETF

FCLDBCboe

First Trust Cloud Computing ETF

SKYYBNasdaq

Overlap

38.5%by weight

Expense ratio

FCLD −0.21pt a year

FCLD0.39%SKYY0.60%

Avg volume · 30D

SKYY 8.7×the volume

FCLD29.2KSKYY255K

5Y return · a year

FCLD +2.1pt

FCLD+9.3%SKYY+7.2%

FCLD vs SKYY Performance

Oct 29, 2021 – Oct 30, 2026

+56.1%FCLD+41.6%SKYY

Expense ratio: FCLD 0.39%, better; SKYY 0.60%
Fund size: FCLD $147M; SKYY $3.31B
1Y total return: FCLD +33.2%, better; SKYY +12.1%
Yield (12M): FCLD 0.01%, better; SKYY 0.00%
Holdings: FCLD 60; SKYY 66
Avg volume (30D): FCLD 29.2K sh; SKYY 255K sh, better
NAV per share: FCLD $41.57; SKYY $159.91
52W range

ETF.net Grade

Pillar letters and Scores for FCLD, SKYY, with each pillar’s weight
Pillar	FCLD	SKYY
Cost30% weight	A71Higher	D35
Mission25% weight	Not scored	Not scored
Risk15% weight	B68Higher	B58
Tradability15% weight	D31	A88Higher
Holdings10% weight	B64	A74Higher
Durability5% weight	B57	A85Higher

Rank among Cloud & Software funds

How we build Categories ›

Same Category. FCLD 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 ›

FCLD ranks 1st and SKYY 2nd 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

Our read on each fund

ETF.net Research

FCLDBFidelity Cloud Computing ETF

SKYYBFirst Trust Cloud Computing ETF

In short

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.

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

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.

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

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.

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

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.

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 FCLD profile⁠

Full SKYY profile⁠

FCLD vs SKYY Holdings

How FCLD and SKYY differ

Overlap by weight

38.5%

Shared holdings make up 63.6% of FCLD and 47.4% of SKYY.

Level by level

Holdings28 in both38.5%
Sector5 Sectors93.8%
Countryby domicile94.8%
Asset classEquity100%

Sector

Sector weights in FCLD and SKYY, widest gap first
Sector	More in FCLDMore in SKYY	FCLD	SKYY
Real Estate	FCLD +6.2 points	6.2%	0.0%
Communication	SKYY +3.2 points	5.1%	8.3%
Consumer Discretionary	SKYY +1.4 points	1.9%	3.3%
Technology	SKYY +1.0 points	86.8%	87.8%
Health Care	SKYY +0.6 points	0.0%	0.6%

Country, concentration and asset class

Country by domicile

Country weights in FCLD and SKYY, widest gap first
Country	More in FCLDMore in SKYY	FCLD	SKYY
Canada	SKYY +2.5 points	0.0%	2.5%
United States	SKYY +2.3 points	94.0%	96.3%
Taiwan	FCLD +1.9 points	1.9%	0.0%
China	FCLD +1.6 points	1.6%	0.0%
Israel	FCLD +1.3 points	1.3%	0.0%
Other countries (2)	FCLD +0.1 points	1.3%	1.2%

Concentration

Weight in the 10 largest Holdings

FCLD38.1%
SKYY34.0%

Securities held

FCLD53
SKYY65

Asset class

FCLD: Equity
SKYY: Equity

Holdings

Only in FCLD25
In both28
Only in SKYY37

Only in FCLD

25 securities, 37.9% of FCLD by weight

Sandisk Corporation3.80%
Seagate Techn Holdings PLC3.80%
Western Digital Corp3.62%
Equinix Inc3.53%
Digital Realty Trust Inc2.89%
Dynatrace Inc2.02%
Hon Hai Precision Ind Co Ltd1.91%
Securities Lending Cf1.55%
Jfrog Ltd1.55%
Commvault Systems Inc1.52%
Zeta Global Holdings Corp1.32%
Nice Ltd1.32%
Teradata Corp1.11%
Monday.com Ltd1.04%
Uipath Inc A1.01%
Kingdee Intl Sftwre Grp Co Ltd0.97%
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%

Only in SKYY

37 securities, 52.5% of SKYY by weight

International Business Machines Corporation3.92%
Oracle Corporation3.12%
Arista Networks, Inc.3.07%
Alphabet Inc. (Class A)2.93%
Netskope, Inc. (Class A)2.82%
Rubrik, Inc. (Class A)2.37%
Lumen Technologies, Inc.2.31%
Cisco Systems, Inc.2.24%
Cloudflare, Inc. (Class A)2.18%
Akamai Technologies, Inc.2.02%
SentinelOne, Inc. (Class A)2.02%
Shopify Inc. (Class A)1.90%
Hewlett Packard Enterprise Company1.88%
Workiva Inc.1.86%
Fastly, Inc. (Class A)1.80%
ServiceTitan, Inc. (Class A)1.53%
Adobe Incorporated1.52%
Sap SE (Adr)1.26%
Wix.com Ltd.1.04%
Zscaler, Inc.0.75%
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%
CrowdStrike Holdings, Inc. (Class A)0.64%
Paylocity Holding Corporation0.63%
Open Text Corporation0.63%
Q2 Holdings, Inc.0.61%
BlackLine, Inc.0.60%
Klaviyo, Inc. (Class A)0.58%
Palo Alto Networks, Inc.0.57%
Intuit Inc.0.56%
Toast, Inc. (Class A)0.55%
AppFolio, Inc. (Class A)0.54%
Figma, Inc. (Class A)0.47%
Rackspace Technology, Inc.0.24%

Weight gaps

All 28 Holdings in both funds, largest gap first.

Holding weights in FCLD and SKYY, widest gap first
Holding	More in FCLDMore in SKYY	FCLD	SKYY
Snowflake IncSNOW	FCLD +3.27 points	3.82%	0.55%
Datadog Inc Class ADDOG	FCLD +3.22 points	3.81%	0.59%
Salesforce IncCRM	FCLD +2.41 points	3.99%	1.58%
Dell Technologies Inc Class CDELL	FCLD +2.19 points	3.84%	1.65%
Servicenow IncNOW	FCLD +1.92 points	3.18%	1.26%
Workday Inc Class AWDAY	FCLD +1.79 points	2.38%	0.59%
Everpure Inc-AP	SKYY +1.66 points	3.20%	4.86%
Nutanix Inc Class ANTNX	SKYY +1.59 points	1.90%	3.49%
Digitalocean Holdings IncDOCN	SKYY +1.57 points	1.31%	2.88%
Zoom Communications Inc Class AZM	FCLD +1.50 points	2.09%	0.59%
Amazon.com IncAMZN	SKYY +1.40 points	1.89%	3.29%
Applovin CorpAPP	FCLD +1.30 points	2.60%	1.30%
Docusign IncDOCU	FCLD +1.24 points	1.98%	0.74%
Microsoft CorpMSFT	FCLD +1.08 points	4.74%	3.66%
Elastic NVESTC	FCLD +0.97 points	1.56%	0.59%
Twilio Inc Class ATWLO	FCLD +0.90 points	2.45%	1.55%
Netapp IncNTAP	FCLD +0.90 points	2.81%	1.91%
Ringcentral Inc Class ARNG	SKYY +0.74 points	1.34%	2.08%
Box Inc Class ABOX	FCLD +0.68 points	1.40%	0.72%
Atlassian Corp PLC Cls ATEAM	FCLD +0.62 points	2.38%	1.76%
FIVE9 IncFIVN	SKYY +0.62 points	0.99%	1.61%
Gitlab Inc Class AGTLB	SKYY +0.60 points	1.47%	2.07%
Dropbox Inc Class ADBX	FCLD +0.59 points	1.20%	0.61%
Trade Desk IncTTD	FCLD +0.57 points	1.10%	0.53%
Coreweave IncCRWV	SKYY +0.48 points	1.44%	1.92%
Appian Corp Class AAPPN	SKYY +0.14 points	0.95%	1.09%
Mongodb Inc Class AMDB	SKYY +0.07 points	2.24%	2.31%
Hubspot IncHUBS	SKYY +0.06 points	1.54%	1.60%

All 58 FCLD 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.

FCLD vs SKYY Cost

Overpaying SKYY vs FCLD

$3,919

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

FCLD 0.39%
$7,898
SKYY 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

FCLD 0.39%
SKYY 0.60%
Overpaying

Year by year

Year	FCLD	SKYY	Overpaying
10	$705	$1,076	$371
20	$2,725	$4,116	$1,391
30	$7,898	$11,817	$3,919

Expense ratio

0.39%FCLD, cheaper
0.60%SKYY

FCLD0.39%SKYY0.60%

0.35%0.68%

Middle half of Cloud & Software funds
Median 0.45%

FCLD 2nd cheapest of 5 funds

SKYY 4th cheapest of 5 funds

FCLD vs SKYY Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FCLD 0.01%, better; SKYY 0.00%
Payout (12M): FCLD $0.004; SKYY None
Last payment: FCLD $0.004; SKYY No data
Ex-dividend: FCLD Dec 19, 2025; SKYY No data
Paid on: FCLD Dec 23, 2025; SKYY No data
Frequency: FCLD Twice a year; SKYY No data

Distribution history

Per share, 2017 to 2026, same scale for both

FCLDTwice a year · 15 paymentsAll FCLD payments⁠

SKYY24 paymentsAll SKYY payments⁠

FCLD vs SKYY Risk

Fall from peak · 5 years

FCLD
SKYY

Risk facts

VolatilityStd dev, 3 years: FCLD 27.4%SKYY 26.3%, better
Return per unit of riskSharpe ratio, 3 years: FCLD 0.98, betterSKYY 0.96
Worst fallMax drawdown, 5 years: FCLD −50.9%, betterSKYY −53.2%
Market sensitivityBeta, 5 years: FCLD 1.56SKYY 1.27; Market = 1

FCLD 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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FCLD vs SKYY

In short

Stated mandate

Why people hold it

Worth knowing

How FCLD and SKYY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FCLD

Only in SKYY

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Chip funds rose 2.5% as software ETFs fell 4.5%

How FCLD and SKYY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FCLD

Only in SKYY

Weight gaps