A Cloud Computing ETF Worth Adding to Your Watchlist
The cloud is not going anywhere
Cloud computing is the on-demand availability of computer system resources on the internet to store, manage, and process data remotely, rather than on a local server or a personal computer. Thanks to cloud computing, we can instantly access many of our favorite applications and tools directly from our laptops, phones, or tablets without needing the most powerful device.
According to research by Markets and Markets, the global cloud computing market size is expected to grow to $947.3 billion by 2026, a compound annual growth rate of 16.3% from $445.3 billion in 2021. When it comes to gaining exposure to the leading publicly-traded cloud computing companies, there is an ETF for that. That ETF is known as the First Trust Cloud Computing ETF (SKYY).
SKYY is an ETF designed to track the performance of companies involved in the cloud computing industry. It is the oldest and biggest cloud-focused ETF, with an inception date of July 6th, 2011, and $4.24 billion in net assets as of June 8th, 2022. It has an expense ratio of 0.60% and a price of $72.77 per share as of June 8th, 2022.
The top ten holdings of SKYY include Alphabet, Microsoft, Oracle, MongoDB, Arista, Amazon, VMWare, Kingsoft Cloud Holdings, Hewlett Packard Enterprise, and…
