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Launched

Amplify BlackSwan Growth & Treasury Core ETF

SWANNYSE ArcaAmplifyB

$31.80−0.91 (−2.77%)

At close: Nov 5, 2026, 4:00 PM ET

B59/ 100

Rank 1 of 7 in S&P 500 Buffer

B59/100Rank 1 of 7inS&P 500 Buffer
Intraday session: down, 78 prints from 32.70 to 31.80. Range 31.80 to 32.46. Use the arrow keys to read each point.32.0032.2032.4032.6010 AM12 PM2 PM4 PM
Expense ratio
0.49%
Fund size
$154M
1Y total return
+0.9%
Yield · Last 12 months
3.46%
Holdings
14
Avg volume · 30D
8.59K sh
52W range
low $30.45high $34.21
Launched

The ETF.net SWAN Grade

Based on 5 of 6 pillars

B

Score 59 out of 100

Category
S&P 500 Buffer⁠
Rank
1 of 7
Six-pillar profile for SWAN. Scores out of 100: Cost 78, Risk 25, Mission not scored, Tradability 53, Holdings 54, Durability 79. Strongest: Durability (79). Weakest: Risk (25). Based on 5 of 6 pillars.

Score 59 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.
    A78 out of 100
    Rank 2 of 7

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D25 out of 100
    Rank 7 of 7

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C53 out of 100
    Rank 3 of 7

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C54 out of 100
    Rank 2 of 5

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A79 out of 100
    Rank 2 of 7

Our read on SWAN

ETF.net Research

In short

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.

Stated mandate

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 Performance

Launched Nov 6, 2018

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$10,088
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,934
Nov 5, 2025 to Nov 5, 2026. SWAN $10,088. SPY $10,934. Use the arrow keys to read each point.$10,000$11,000Nov 2025May 2026Nov 2026

Nov 5, 2025 – Nov 5, 2026

Returns run to the Nov 5, 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.

Trailing total return for SWAN. Periods over one year show the average yearly return.
PeriodSWAN
Year to date+0.6%
1 month−1.2%
3 months−4.9%
1 year+0.9%
3 yearsper year+13.0%
5 yearsper year+0.9%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SWAN
YearReturn barSWAN
2026 YTD+0.6%
2025+13.9%
2024+13.5%
2023+12.1%
2022−27.8%
2021+10.6%
2020+16.2%

SWAN in the news

SWAN Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 5, 2026.
3.46%Last 12 months
Payout per share
$1.10Last 12 months
Last payment
$0.27 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2018–2026

One bar per payment. 32 payments from 2018 to 2026 YTD. Dec 28, 2018 $0.07; Mar 28, 2019 $0.12; Jun 27, 2019 $0.11; Sep 27, 2019 $0.08; Dec 30, 2019 $0.75; Mar 27, 2020 $0.07; Jun 26, 2020 $0.03; Sep 28, 2020 $0.007; Dec 29, 2020 $0.43; Mar 29, 2021 $0.007; Jun 28, 2021 $0.02; Sep 28, 2021 $0.04; Dec 29, 2021 $1.68; Mar 29, 2022 $0.06; Jun 28, 2022 $0.10; Sep 28, 2022 $0.18; Dec 28, 2022 $0.18; Mar 29, 2023 $0.20; Jun 28, 2023 $0.19; Sep 27, 2023 $0.19; Dec 27, 2023 $0.21; Mar 26, 2024 $0.19; Jun 27, 2024 $0.19; Sep 27, 2024 $0.15; Dec 30, 2024 $0.22; Mar 28, 2025 $0.22; Jun 27, 2025 $0.24; Sep 29, 2025 $0.23; Dec 30, 2025 $0.24; Mar 30, 2026 $0.24; Jun 29, 2026 $0.35; Sep 29, 2026 $0.27. Use the arrow keys to read each point.201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 29, 2026Sep 30, 2026$0.27
Jun 29, 2026Jun 30, 2026$0.35
Mar 30, 2026Mar 31, 2026$0.24
Dec 30, 2025Dec 31, 2025$0.24
Sep 29, 2025Sep 30, 2025$0.23
Jun 27, 2025Jun 30, 2025$0.24
Mar 28, 2025Mar 31, 2025$0.22
Dec 30, 2024Dec 31, 2024$0.22
Sep 27, 2024Sep 30, 2024$0.15
Jun 27, 2024Jun 28, 2024$0.19
Mar 26, 2024Mar 28, 2024$0.19
Dec 27, 2023Dec 29, 2023$0.21

See all 32 payments⁠

$10,000 in SWAN 5 years ago paid $1,514 in dividends.⁠

SWAN Risk

Risk pillarD25 out of 100Rank 7 of 7 in S&P 500 Buffer
How much the fund’s monthly returns vary, scaled to a year.
11.4%
Annualised · 36 months to Oct 2026
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.

Return above 3-month US Treasury bills per unit of volatility.
0.91
vs 3-month T-bills · to Oct 2026
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.

The largest fall from a peak to the low that followed.
−31.0%
Trough Oct 2023
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.

How strongly the fund’s returns move with its asset-class index.
0.86
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

SWAN Cost

Compare SWAN and HJUN

Overpaying vs HJUN, cheapest in S&P 500 Buffer

$3,643

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • SWAN 0.49%

    $9,792

  • HJUN 0.30% Cheapest

    $6,149

$10,000
30 years

Cost over time

  • SWAN 0.49%
  • HJUN 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530SWAN $9,792HJUN $6,149

Year by year

YearSWANHJUNOverpaying
10$883$545$338
20$3,394$2,113$1,281
30$9,792$6,149$3,643

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