Up In The Clouds: First Cloud Computing ETF Debuts

First Trust has rolled out the industry’s first ETF focused exclusively on the cloud computing industry, debuting the ISE Cloud Computing Index Fund (SKYY) on Wednesday. The new ETF will seek to replicate a modified equal-dollar weighted index comprised of companies involved in the cloud computing industry, including both “pure play” companies and those with operations that more generally involve cloud computing. Specifically, companies deemed to be engaged in the cloud computing industry are allocated to one of three buckets: Pure Play Cloud Computing Companies: Direct service providers for “the cloud” or companies that deliver goods and services that utilize cloud computing technology. Non Pure Play Cloud Computing Companies: Focus outside the cloud computing space but provide goods and services in support of the cloud computing space. Technology Conglomerate Cloud Computing Companies: Indirectly utilize or support the use of cloud computing technology. Conglomerate companies will account for 10% of the [...] Click here to read the original article on ETFdb.com. Related Posts: Smartphone ETF On The Horizon? An Active ETF Gets Its Wings June ETF Roundup: Launches, Filings, and Closures Friday’s ETF To Watch: ETFS Physical Platinum Shares (PPLT) ETF Pipeline: Nigeria Fund, Cloud Computing ETF On Tap