The First Trust Cloud Computing ETF (SKYY) was launched on May 27, 2011 and is a passively managed exchange-traded fund that aims to offer broad exposure to the technology cloud computing segment of the stock market.
Passively managed ETFs are becoming increasingly popular with retail and institutional investors and offer low costs, transparency, flexibility and tax efficiency. they are also excellent vehicles for long-term investors.
In addition, sector ETFs provide convenient ways to get low risk and diversified exposure to a wide range of companies in specific sectors. Technology – Cloud Computing is one of the 16 broad Zacks sectors within the Zacks industry classification. It is currently in 7th place and is therefore in the top 44%.
The fund is sponsored by First Trust Advisors. It has amassed over $ 5.83 billion in net worth making it one of the largest ETFs trying to outperform the technology cloud computing segment of the stock market. SKYY tries to …