Amplify BlackSwan Growth & Treasury Core ETF
$32.45+0.04 (+0.13%)
- 0.49%
- $153M
- +4.9%
- 3.39%
- 0M sh
- $32.44
- low $30.45high $34.21
The ETF.net SWAN Grade
B
Score 57 out of 100
- 2 of 7
Score 57 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B66 out of 100Rank 3 of 7Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F23 out of 100Rank 7 of 7Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B57 out of 100Rank 3 of 7Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A75 out of 100Rank 2 of 5Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A79 out of 100Rank 2 of 7
Our read on SWAN
BThe buffer fund that isn't one. Rather than a yearly reset and a capped ceiling, SWAN holds roughly 90% U.S. Treasuries and spends the other 10% on in-the-money S&P 500 call options, aiming for uncapped index exposure with a bond core underneath.
The fund seeks to track the S-Network BlackSwan Core Index while pursuing uncapped S&P 500 exposure and buffering against significant losses. Its strategy uses approximately 90% U.S. Treasury securities and 10% SPY in-the-money call options.
Why people hold it
- Cheapest in its peer group at 0.49%, against a 0.79% median for buffer-style rivals such as BAPR (0.79%) and BUFR (0.95%).
- No ceiling on gains. Defined-outcome funds sell away upside above a cap; SWAN's in-the-money SPY calls are built to leave the index climb uncapped.amplifyetfs.com
- No outcome period to track: no annual reset date, no entry-timing math, no cap that expires and resets.amplifyetfs.com
- Running the same recipe since 2018, through live market stress rather than backtests, and it stands among the stronger builds in its peer group.
Worth knowing
- The cushion isn't a stated number. Unlike a named-depth buffer fund (FEBT, DMAX), SWAN's downside comes from Treasuries plus option value, so it moves with markets.amplifyetfs.com
- About 90% of the portfolio is Treasuries, so interest-rate moves drive results as much as the S&P 500 does.amplifyetfs.com
- A small, thinly traded fund, so bid-ask spreads deserve more attention than with the giant buffer names.
SWAN Holdings
- Stocks
- 14
- 85%
- 91282CDJ7
Sectors
- Technology40.1%
- Financials11.3%
- Communication9.9%
- Health Care9.4%
- Consumer Discretionary8.7%
- Industrials7.6%
- Consumer Staples4.4%
- Energy3.4%
- Utilities1.9%
- Real Estate1.7%
- Materials1.6%
SWAN Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
SWAN$10,494
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | SWAN |
|---|---|
| Year to date | +2.5% |
| 1 month | 0.0% |
| 3 months | −1.8% |
| 1 year | +4.9% |
| 3 years | +14.0% |
| 5 years | +2.5% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | SWAN |
|---|---|---|
| 2026 YTD | +2.5% | |
| 2025 | +13.9% | |
| 2024 | +13.5% | |
| 2023 | +12.1% | |
| 2022 | −27.8% | |
| 2021 | +10.6% | |
| 2020 | +16.2% |
SWAN in the news
SWAN Dividends
- 3.39%
- $1.10
- $0.27 per share
- Quarterly
Distribution history
SWAN Risk
- 11.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.76
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −31.0%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.86
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
SWAN Cost
0.49%
SWAN0.49%
- The middle half of S&P 500 Buffer funds
- Median 0.58%
2 of the 7 S&P 500 Buffer funds charge less.
Other funds in S&P 500 Buffer
- APSFFPacer Swan SOS Fund of Funds ETFExpense ratio 0.10%1 year return +12.7%
- CQBSVAIM ETF Products Trust - AllianzIM U.S. Equity Buffer5 ETFExpense ratio 0.64%1 year return —
- CFBProShares S&P 500 Dynamic Buffer ETFExpense ratio 0.58%1 year return +14.5%
- CHJUNCorgi ETF Trust I - Corgi U.S. Equities 100% Structured Buffer ETF - June SeriesExpense ratio 0.30%1 year return —
- DDHSBDay Hagan Smart Buffer ETFExpense ratio 0.68%1 year return +9.1%