Do CLOU and XSW hold the same stocks?

By their latest filings, 14% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, CLOU or XSW?

CLOU has 29% of its weight in S&P 500 names and XSW has 21%, so XSW differs more from the index.

Which is cheaper, CLOU or XSW?

CLOU charges 0.68% a year and XSW charges 0.35%, so XSW is cheaper. Fees come from each fund's prospectus.

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CLOU vs XSW: which is really different?

CLOU and XSW hold 14% of their weight in the same names, and CLOU returned +22.4% over the year. Global X Cloud Computing ETF and State Street(R) SPDR(R) S&P(R) Software & Services ETF.

29.0%

CLOU in the S&P 500

20.8%

XSW in the S&P 500

+22.4%

CLOU total return, 1 year

−1.6%

XSW total return, 1 year

CLOU · 1 year to Sep 30, 202671% of its weight is outside the S&P 500

29% of CLOU's weight is in S&P 500 companies and 71% is outside the index

XSW · 1 year to Sep 30, 202679% of its weight is outside the S&P 500

21% of XSW's weight is in S&P 500 companies and 79% is outside the index

ETFIQ Off-Index Score · XSW scores higherHow much of it is not the index it is sold as an alternative to?

CLOU 30.8

XSW 34.7

0.1, the lowest in this set92.0, the highest

A percentile among the 375 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, CLOU and XSW hold 14% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Sep 30, 2026.

50%

half

14% in common

Positions both hold, largest shared weight first

Holding CLOU XSW

DATADOG INC - CLASS A 5.99% 0.93%

ZSCALER INC 4.41% 0.92%

FIVE9 INC 1.59% 0.85%

QUALYS INC 4.07% 0.84%

FRESHWORKS INC-CL A 1.90% 0.82%

C3.AI INC-A 0.95% 0.81%

SPS COMMERCE INC 1.85% 0.80%

MICROSOFT CORP 1.82% 0.80%

WORKDAY INC-CLASS A 4.50% 0.78%

SERVICENOW INC 4.39% 0.78%

DROPBOX INC-CLASS A 3.37% 0.75%

BOX INC - CLASS A 2.82% 0.74%

Only in CLOU

SNOWFLAKE INC 7.19%

TWILIO INC - A 5.71%

PAYCOM SOFTWARE INC 4.96%

CLOUDFLARE INC - CLASS A 4.90%

DIGITALOCEAN HOLDINGS INC 4.00%

SHOPIFY INC - CLASS A 3.54%

AKAMAI TECHNOLOGIES INC 2.99%

DIGITAL REALTY TRUST INC 2.53%

Only in XSW

RUBRIK INC A 0.98%

CROWDSTRIKE HOLDINGS INC A 0.97%

SENTINELONE INC CLASS A 0.93%

NETSKOPE INC CL A 0.92%

PALO ALTO NETWORKS INC 0.90%

VIA TRANSPORTATION INC CL A 0.89%

CADENCE DESIGN SYS INC 0.89%

SAILPOINT INC 0.88%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

14% of the two portfolios are the same securities at the same weight.

Performance, window by window

	Total return		vs the S&P 500		vs the Nasdaq-100
Window	CLOU	XSW	CLOU	XSW	CLOU	XSW
3 months	+22.0%	+10.1%	+19.5 pts	+7.5 pts	+19.9 pts	+7.9 pts
6 months	+44.2%	+36.3%	+27.2 pts	+19.3 pts	+17.3 pts	+9.4 pts
1 year	+22.4%	−1.6%	+6.7 pts	−17.3 pts	−1.4 pts	−25.4 pts
3 years	+51.1%	+53.6%	−33.8 pts	−31.4 pts	−58.8 pts	−56.4 pts
Since launch CLOU Apr 2019 · XSW Sep 2011	+92.7%	+766.5%	−100.7 pts	+12.4 pts	−223.0 pts	−696.5 pts

CLOU and XSW over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

CLOU

Global X Cloud Computing ETF · Holds 40 stocks in cloud and software, 29% of its weight in S&P 500 companies

XSW

State Street(R) SPDR(R) S&P(R) Software & Services ETF · Holds 133 stocks in cloud and software, 21% of its weight in S&P 500 companies

Issuer Global X State Street

Theme Cloud and software Cloud and software

In the S&P 500 29.0% 20.8%

Active share vs the S&P 500 94.6% 95.5%

In the Nasdaq-100 22.9% 14.0%

Holdings 40 133

Top ten, share of the fund 50.1% 9.2%

Expense ratio 0.68% 0.35%

Fee for the differing part 0.72% 0.37%

Total return, 1 year +22.4% −1.6%

vs the S&P 500 +6.7 pts −17.3 pts

vs the Nasdaq-100 −1.4 pts −25.4 pts

Below its high −9.9% −7.5%

Net assets $375m $473m

CLOU and XSW on the same fields, as of Sep 30, 2026. Source: ETFIQ.

CLOU in plain words

By weight, 29% of CLOU's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 95%. The top ten holdings are 50% of the fund across 40 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned +22.4% with distributions reinvested against +15.7% for the S&P 500, so a holder was ahead by 6.7 pts. It sits 9.9% below its all-time high of Nov 4, 2021.

XSW in plain words

By weight, 21% of XSW's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 96%. The top ten holdings are 9% of the fund across 133 positions, as published by its issuer for Sep 30, 2026. Over the year to Sep 30, 2026 the fund returned −1.6% with distributions reinvested against +15.7% for the S&P 500, so a holder was behind by 17.3 pts. It sits 7.5% below its all-time high of Aug 27, 2026.

Questions people ask

Do CLOU and XSW hold the same stocks?: By their latest filings, 14% of their books are the same securities at the same weight, which is mostly different names. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, CLOU or XSW?: CLOU has 29% of its weight in S&P 500 names and XSW has 21%, so XSW differs more from the index.
Which is cheaper, CLOU or XSW?: CLOU charges 0.68% a year and XSW charges 0.35%, so XSW is cheaper. Fees come from each fund's prospectus.

Other comparisons

CLOU vs XIGV CLOU vs CLOD CLOU vs FCLD CLOU vs IGV XSW vs IGV XSW vs FCLD XSW vs SKYY XSW vs WCLD

CLOU on its own →XSW on its own →How every figure is computed →Standards and sources →

Where these figures came from

CLOU filings on SEC EDGAR ↗CLOU prospectus with the expense ratio (SEC) ↗Global X page for CLOU ↗XSW filings on SEC EDGAR ↗XSW prospectus with the expense ratio (SEC) ↗State Street website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, CLOU against XSW, data as of Sep 30, 2026. https://etfiq.com/compare/themes/clou-vs-xsw

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.