Amplify BlackSwan Growth & Treasury Core ETF
$32.55−0.49 (−1.47%)
- Expense ratio
- 0.49%
- Fund size
- $156M
- 1Y return
- +5.0%
- Yield · Last 12 months
- 3.22%
- Holdings
- 12
- Volume · 30D
- 0M sh
- NAV per share
- $33.00
- 52W range
The ETF.net SWAN Grade
Score 61 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 66Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.DScore 28Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 72Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 76Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 79Category rank
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
- 12
- 86%
- 91282CDJ7
Sectors
- Technology38.5%
- Financials12.1%
- Communication9.6%
- Consumer Discr.9.3%
- Health Care9.3%
- Industrials7.8%
- Cons. Staples4.5%
- Energy3.4%
- Utilities2.0%
- Real Estate1.8%
- Materials1.7%
SWAN Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | +3.6% |
| 1 month | −0.7% |
| 3 months | −0.3% |
| 1 year | +5.0% |
| 3 years | +14.1% |
| 5 years | +2.2% |
| 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 | +3.6% | |
| 2025 | +13.9% | |
| 2024 | +13.5% | |
| 2023 | +12.1% | |
| 2022 | −27.8% | |
| 2021 | +10.6% | |
| 2020 | +16.2% |
SWAN in the news
ETF.net Research hasn’t filed on SWAN yet — coverage lands here as it’s written.
SWAN Dividends
- 3.22%
- $1.06
- $0.35 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 29, 2026 | Jun 30, 2026 | $0.35 |
| Mar 30, 2026 | Mar 31, 2026 | $0.24 |
| Dec 30, 2025 | Dec 31, 2025 | $0.24 |
| Sep 29, 2025 | Sep 30, 2025 | $0.23 |
| Jun 27, 2025 | Jun 30, 2025 | $0.24 |
| Mar 28, 2025 | Mar 31, 2025 | $0.22 |
| Dec 30, 2024 | Dec 31, 2024 | $0.22 |
| Sep 27, 2024 | Sep 30, 2024 | $0.15 |
| Jun 27, 2024 | Jun 28, 2024 | $0.19 |
| Mar 26, 2024 | Mar 28, 2024 | $0.19 |
| Dec 27, 2023 | Dec 29, 2023 | $0.21 |
| Sep 27, 2023 | Sep 29, 2023 | $0.19 |
SWAN Risk
- 12.2%
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.
- 0.64
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
- The middle half of S&P 500 Buffer funds
- Median 0.58%
2 of the 7 S&P 500 Buffer funds charge less.