What Is WCLD? WisdomTree Cloud Computing Fund

WCLD is the WisdomTree Cloud Computing Fund, an exchange-traded fund that provides targeted exposure to companies delivering cloud-based software. It tracks the BVP Nasdaq Emerging Cloud Index, developed by WisdomTree with Bessemer Venture Partners and Nasdaq, and charges a 0.45% expense ratio.

The defining feature of WCLD is that it is equal-weighted. Rather than letting a handful of the largest companies dominate, the index assigns each of its roughly 60 to 65 constituents a similar weight and rebalances periodically. That gives smaller, faster-growing SaaS businesses real representation and makes the fund a purer bet on emerging cloud software.

Approximate weights as of mid-2026; refresh quarterly from WisdomTree Asset Management's fund page. Each ticker links to its individual stock guide in Walnut.

WCLD holds around 60 to 65 cloud-software companies. Because it equal-weights, top positions cluster in a narrow band rather than being concentrated in a few names. Recent leaders have included JFrog, Datadog, DigitalOcean, Palo Alto Networks, Tenable, Okta, CrowdStrike, and Twilio.

The portfolio leans toward mid and small-cap software-as-a-service businesses across application software, cybersecurity, data analytics, and developer tools. It is almost entirely technology and predominantly United States listed, which makes it a focused, high-beta expression of the cloud-software theme.

Compared with First Trust's SKYY, WCLD is the more concentrated SaaS play. SKYY is market-cap influenced and includes large-cap cloud infrastructure names like Amazon, Microsoft, and Alphabet, which makes it steadier. WCLD equal-weights emerging cloud-software companies and skews smaller and more volatile.

Against a broad technology fund like XLK, WCLD is far narrower. XLK owns the whole tech sector, dominated by the largest hardware and platform companies, at a lower 0.08% fee. WCLD isolates emerging cloud software, so it can diverge meaningfully from broad tech in either direction.

WCLD's performance is tied closely to the fortunes of high-growth cloud-software stocks. It surged during the 2020 and 2021 SaaS boom, then fell sharply when rising rates repriced growth equities. That history illustrates how sensitive the fund is to the growth-stock cycle.

The long-term case rests on continued migration of enterprise workloads to the cloud and steady SaaS revenue growth. The near-term path depends on interest rates, valuations, and software-spending trends, all of which can drive large swings in a concentrated, equal-weighted fund like this one.

WCLD suits investors who specifically want concentrated exposure to emerging cloud-software companies and can tolerate above-average volatility. Its equal-weight design and mid-cap tilt make it more of a satellite growth position than a core holding, typically sized as a slice of a broader portfolio.

Walnut is not an investment adviser. This is descriptive information, not a recommendation. Whether WCLD belongs in your portfolio depends on your goals, time horizon, risk tolerance, and what you already own, so weigh those factors or consult a licensed professional before deciding.

WCLD trades on the Nasdaq and can be purchased through brokerages such as Robinhood, Fidelity, Charles Schwab, and Public. Many of these support fractional shares, so you can start with a small dollar amount rather than buying a whole share.

You can also connect your existing brokerage to Walnut to track WCLD next to your other positions and build a basket around a cloud-software thesis. Walnut helps you monitor how the holding aligns with your target weights over time while your trades stay at your broker.

ETFs are passive bundles; thematic baskets in Walnut let you concentrate within them. If you hold WCLD as a core position, these are the themes you might layer on as satellites.

WCLD gives concentrated, equal-weighted exposure to emerging cloud-software companies. At 0.45% it costs more than a broad tech index but far less than most active tech funds. It fits as a satellite growth position for investors who specifically want SaaS exposure, not a core holding.

Whether WCLD is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, concentration, and what would have to be true for it to outperform from here in is WCLD a buy?

WCLD yields ~0.1% as of mid-2026, paid by passing through the dividends of its underlying holdings. For the payout schedule, history, and how the distributions are taxed, see WCLD dividend: yield and schedule.