First Trust Cloud Computing ETF (SKYY) is a AI and software ETF. As of October 9, 2026, ETF Copilot scores SKYY 5.2 out of 10 — highest on Return (8.2), lowest on Risk (0.7). It trades at 29.9 times earnings, against its own median of 33.4. Its ten largest holdings are 36% of the fund.
What stands out in SKYY's data
Global cloud computing firms, from infrastructure to software platforms.
Its profitability sits in line with the typical cloud fund — no edge there, so the story has to come from growth.
EBITDA margin of 20.9% matches the category median of 20.9%, and the fund trades at 21.7x trailing EBITDA — a premium price for a sector priced for expansion.
A satellite sleeve for portfolios seeking exposure to cloud infrastructure and platforms.
Why did SKYY move this week? It rose 4.0% in the week to October 9, 2026 — Netskope and Fastly drove it
SKYY rose 4.0% in the week to October 9, 2026. The holdings that moved it most were Netskope (+17.0%), Fastly (+13.5%) and Gitlab (+10.7%); CoreWeave (−8.4%) pushed the other way.
How is SKYY rated? ETF Copilot scores First Trust Cloud Computing ETF (SKYY) 5.2 out of 10
As of October 9, 2026, ETF Copilot scores First Trust Cloud Computing ETF (SKYY) 5.2 out of 10 overall.
ETF Copilot scores (0–10 scale, higher is better):
- Overall: 5.2 / 10
- Growth: 7.0 / 10
- Value: 5.8 / 10
- Risk: 0.7 / 10
- Quality: 1.7 / 10
- Return: 8.2 / 10
Is SKYY expensive right now? It trades at 29.9 times earnings, against its own median of 33.4
As of October 9, 2026, SKYY is cheaper than 80% of its own 60 monthly readings since 2017 — 12 of those months were cheaper than today.
Trailing twelve-month, computed by ETF Copilot from the fund's holdings rather than quoted from a data provider, and rebuilt nightly.
What's inside SKYY? 86% Tech
What's inside SKYY: Size (Large 59%, Mid 32%, Small 9%); Geography (International 6%, US 94%); Tech 86.2%; Magnificent 7 10.2%; AI 18.4%; Memory 1.6%.
What are SKYY's top holdings? The ten largest are 36% of the fund
Everpure, Digitalocean, Arista Networks, Nutanix, Microsoft, Alphabet, Amazon.com, International Business Machines, Oracle and CoreWeave are SKYY's largest holdings, in that order.
Less concentrated than 77% of Software/AI ETFs.
Half of SKYY's weight sits in its 17 largest positions, and once those weights are taken into account it behaves like 42 equally weighted holdings.
What is SKYY's expense ratio? 0.60% a year
As of October 9, 2026, SKYY charges 0.60% a year and holds $3.5B in assets across 64 positions.
| Measure | SKYY |
|---|---|
| Expense ratio | 0.60% |
| Assets under management | $3.5B |
| Holdings | 64 |
Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.
Cite this
ETF Copilot, “First Trust Cloud Computing ETF (SKYY) scores and holdings analysis”, as of October 9, 2026.
https://etf-copilot.com/etf/skyy
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