At a glance
CLOU charges 0.68% a year, above the 0.45% average of the 5 funds most like it (the most expensive of 6). It has $268.8M in assets, the 2nd largest of that group. Over the past year it returned +26.0% with distributions reinvested (S&P 500: +11.5%), 4th of those 6 funds; over three years it returned +20.3% a year. At its worst it fell 30.8% in the 2020 crash (S&P 500: 33.7%) and 42.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 46 months after the lows. Its ten largest positions make up 47.7% of the fund, out of 38 in all.
The short version
Global X Cloud Computing ETF (CLOU) is an index fund that tracks the Indxx Global Cloud Computing Index. The index holds about 38 cloud software, infrastructure and data center companies, such as Snowflake, Datadog and DigitalOcean. Its 0.68% expense ratio is higher than similar cloud funds like SKYY (0.60%) and WCLD (0.45%). It is also volatile: it fell 53.7% from November 2021 to November 2022 and had not regained that peak as of October 27, 2026.
Price history
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CLOU +26.0% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| CLOU official prospectus, to Dec 31, 2025 | — | -5.75% | — | -3.79% | — | +6.50% |
| CLOU price data to Oct 27, 2026 | +34.3% | +26.0% | +20.3% | -0.2% | — | +10.1% |
- Over the year to Oct 27, 2026, CLOU returned +26.0%, 4th of 6 among similar funds.
- Its 5-year annualized return was -0.2%.
- In the 2020 COVID crash it fell 30.8% and regained its old high 1.7 months after the low.
- Its worst full calendar year was 2022 (-39.6%); its best was 2020 (+77.2%).
- The deepest fall in its price history was 53.7% (Nov 4, 2021 to Nov 9, 2022), not yet recovered.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +34.3% | — |
| 2025 | -5.6% | -5.75% |
| 2024 | +5.7% | +5.92% |
| 2023 | +41.4% | +41.15% |
| 2022 | -39.6% | -39.52% |
| 2021 | -3.3% | -3.26% |
| 2020 | +77.2% | +77.08% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 26.7% over that stretch · deepest drop along the way 30.8%, back to its old high 1.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 42.8% over that stretch · deepest drop along the way 42.8%, back to its old high 45.7 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2021 | $0.4700 |
What's inside
As of May 31, 2026, the fund held 38 securities; the ten largest made up 47.66% of assets.
| Holding | Weight | |
|---|---|---|
| SNOWFLAKE INC. | 6.34% | |
| DATADOG, INC. | 6.34% | |
| DigitalOcean Holdings, Inc. | 5.48% | |
| AKAMAI TECHNOLOGIES, INC. | 4.92% | |
| SERVICENOW, INC. | 4.77% | |
| TWILIO INC. | 4.36% | |
| WORKDAY, INC. | 4.05% | |
| CLOUDFLARE, INC. | 4.00% | |
| PAYCOM SOFTWARE, INC. | 3.73% | |
| SALESFORCE, INC. | 3.67% | |
| ZSCALER, INC. | 3.62% | |
| ZOOM COMMUNICATIONS, INC. | 3.54% | |
| HUBSPOT, INC. | 3.37% | |
| SHOPIFY INC. | 3.32% | |
| DIGITAL REALTY TRUST, INC. | 3.20% |
By country
United States 97.29%Sweden 2.36%Japan 0.25%By asset type
Stocks 99.9%By sector
Sectors of the companies held, for the 49.1% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of May 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to May 31, 2026, investors added a net $1.3M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +21.62%, +2.51%, +3.84%.
How it works
CLOU tracks the Indxx Global Cloud Computing Index. Indxx LLC builds the index and is independent of the fund's adviser, Global X Management Company. Indxx starts with FactSet industries tied to cloud computing. It then keeps companies that earn at least 50% of their revenue from cloud activities. These include software sold by subscription over the internet (SaaS), platforms for building that software (PaaS), virtual computing infrastructure (IaaS), data center real estate investment trusts (REITs), and hardware used in cloud and edge computing. Firms with at least $500 million of public cloud infrastructure revenue can also join even if that is under half their sales. They are capped at 2% each and 10% combined.
As of January 31, 2026, a company needed a market value of at least $200 million and average daily trading of at least $2 million over six months. The index had 37 constituents on that date. Holdings are weighted by market value, with caps that limit the largest names. The index is reconstituted and reweighted twice a year. More than 40 countries are eligible, but about 97% of the fund was in US companies as of May 31, 2026.
The fund generally holds every index stock in about the same proportions, though it may hold a representative sample instead. It does not try to beat the index or move to cash when markets fall. It may lend out securities worth up to one-third of its total assets. The index can be changed without a shareholder vote.
What it really costs
- CLOU charges 0.68% a year, versus an average of 0.45% for the similar funds below (6th of 6, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $69 in the first year and $847 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| CLOU | $69 | $218 | $379 | $847 |
In a retirement portfolio
CLOU is a narrow, volatile bet on about 38 cloud companies, so it fits best as a small add-on next to broader core holdings.
CLOU launched in April 2019, so it has no record from the 2008 crisis. In the 2020 COVID crash it fell 30.8% and recovered in under two months. The 2022 bear market was harsher: a 42.8% drop that took about 46 months to recover, until August 2026. Its deepest decline was 53.7% from a November 2021 peak, and it had not fully recovered as of October 27, 2026. Its worst calendar year was 2022, when it lost 39.5%. Anyone forced to sell shares in a year like that would lock in steep losses. The fund paid no distributions in the year through October 27, 2026, so it adds no income. It costs 0.68% a year. In the SEC's standard example, that comes to $847 over 10 years on $10,000. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a small, targeted stake in cloud software firms such as Snowflake, Datadog and ServiceNow alongside broader core funds.
- People who can hold through deep drops, like the 53.7% decline from November 2021 to November 2022.
- Those who like a rules-based index where most members must earn at least half their revenue from cloud activities.
Look elsewhere if
- Cost-conscious investors: the 0.68% expense ratio is higher than similar funds such as WCLD (0.45%) and FCLD (0.40%).
- Anyone who needs income, since the fund made no distributions in the year through October 27, 2026.
- Retirees who may need to sell in downturns or want broad diversification. About 97% sits in US companies, spread across only about 38 holdings.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| CLOU this fund | — | 0.68% | $268.8M | +26.0% | +20.3% |
| SKYY First Trust Cloud Computing ETF | 35% | 0.6% | $2.72B | +21.8% | +34.0% |
| FCLD Fidelity Cloud Computing ETF | 34% | 0.4% | $110.4M | +46.9% | +36.5% |
| WCLD WisdomTree Cloud Computing Fund | 33% | 0.45% | $245.2M | +28.5% | +19.8% |
| CLOD Themes Cloud Computing ETF | 28% | 0.35% | $2.5M | +1.1% | — |
| WCBR WisdomTree Cybersecurity Fund | 21% | 0.45% | $103.0M | +60.5% | +39.5% |
Questions investors ask
Does CLOU pay a dividend?
No. CLOU made no distributions in the 12 months through October 27, 2026, so its trailing yield was 0%. The fund holds mostly fast-growing cloud software companies, and companies like these usually reinvest their earnings rather than pay dividends. Investors who own CLOU are counting on rising share prices, not income. That matters for anyone who wants their portfolio to produce regular cash.
What's the difference between CLOU and SKYY?
Both are cloud computing index funds, and about 35% of their holdings overlap. SKYY, from First Trust, costs 0.60% a year versus CLOU's 0.68%. SKYY is also much larger: it had about $2.7 billion in net assets as of June 30, 2026, compared with about $269 million for CLOU as of May 31, 2026. Over the year ending October 27, 2026, CLOU returned 26% and SKYY returned 21.8%.
What is CLOU's expense ratio?
CLOU's expense ratio is 0.68%, according to its prospectus filed March 27, 2026. In the SEC's standard example ($10,000 invested, 5% yearly return), that comes to about $69 after one year and $847 over 10 years. It is the most expensive of the six cloud and software funds compared here, where the average is 0.45%. FCLD costs 0.40% and WCLD costs 0.45%.
What are CLOU's top holdings?
As of May 31, 2026, CLOU's largest holdings were Snowflake (6.3%), Datadog (6.3%), DigitalOcean (5.5%), Akamai (4.9%) and ServiceNow (4.8%). Twilio, Workday, Cloudflare, Paycom and Salesforce rounded out the top 10. Together those 10 made up 47.7% of the fund. The fund held 38 companies in total, including data center REIT Digital Realty at 3.2%.
How has CLOU performed since it launched?
Results have been mixed. As of December 31, 2025, CLOU's official returns were -5.75% for one year, -3.79% a year over five years, and 6.5% a year since its April 2019 launch. Price returns then rose sharply, with a 34.3% gain for 2026 through October 27. Calendar years have swung widely, from a 77.1% gain in 2020 to a 39.5% loss in 2022.