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BFJL vs ISWN

FT Vest Bitcoin Strategy Floor15 ETF - July

BFJLDNYSE Arca

Amplify BlackSwan ISWN ETF (International)

ISWNANYSE Arca

Overlap

Expense ratio

ISWN −0.41pt a year

BFJL0.90%ISWN0.49%

Avg volume · 30D

ISWN 5.1×the volume

BFJL387ISWN1.97K

BFJL vs ISWN Performance

Oct 31, 2025 – Nov 2, 2026

−5.8%BFJL+3.7%ISWN

Oct 31, 2025 to Nov 2, 2026. BFJL −5.8%. ISWN +3.7%. Use the arrow keys to read each point.−15%−10%0%10%Oct 2025May 2026Nov 2026
Expense ratio
BFJL 0.90%
ISWN 0.49%, better
Fund size
BFJL $4M
ISWN $35M
1Y total return
BFJL −5.8%
ISWN +3.7%, better
Yield (12M)
BFJL No data
ISWN 3.06%
Holdings
BFJL 5
ISWN 14
Avg volume (30D)
BFJL 387 sh
ISWN 1.97K sh, better
NAV per share
BFJL $18.81
ISWN $21.22
52W range

ETF.net Grade

BFJL: Cost 24, Risk 29, Mission not scored, Tradability 30, Holdings 60, Durability 48. ISWN: Cost 100, Risk 39, Mission not scored, Tradability 58, Holdings 53, Durability 80.
Pillar letters and Scores for BFJL, ISWN, with each pillar’s weight
PillarBFJLISWN
Cost30% weightF24A100Higher
Mission25% weightNot scoredNot scored
Risk15% weightD29D39Higher
Tradability15% weightD30B58Higher
Holdings10% weightB60HigherC53
Durability5% weightC48A80Higher

Rank among Other Floor Protected funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BFJL and ISWN are both graded against the same 18 Other Floor Protected funds, so their Grades compare head to head.

Other Floor Protected⁠

Category · 18 funds
See all 18 ›

ISWN ranks 3rd and BFJL 13th of 18 funds in the Other Floor Protected Category.

  1. Rank 1ACPRYCalamos Russell 2000 Structured Alt Protection ETF – JanuaryScore 78
  2. Rank 2ACPROCalamos Russell 2000 Structured Alt Protection ETF – OctoberScore 76
  3. Rank 3AISWNAmplify BlackSwan ISWN ETF (International)Score 74
  4. Rank 4ACPRJCalamos Russell 2000 Structured Alt Protection ETF – JulyScore 71
  5. Rank 12DBFOCFT Vest Bitcoin Strategy Floor15 ETF - OctoberScore 32
  6. Rank 13DBFJLFT Vest Bitcoin Strategy Floor15 ETF - JulyScore 28
  7. Rank 14DBFAPFT Vest Bitcoin Strategy Floor15 ETF - AprilScore 25

Our read on each fund

ETF.net Research

BFJLDFT Vest Bitcoin Strategy Floor15 ETF - July

ISWNAAmplify BlackSwan ISWN ETF (International)

In short

BFJL Bitcoin with a seatbelt. BFJL follows the price return of a bitcoin reference instrument, absorbs the first 15% of a decline over a one-year outcome period, and gives up gains above a cap that resets each July.

ISWN Most downside-protection funds pay for the cushion by capping your upside. ISWN skips the cap: roughly 90% sits in Treasuries while about 10% buys long-dated in-the-money calls on EFA, so developed-market exposure arrives through options.

Stated mandate

BFJL The Fund seeks to match the price return of a bitcoin-linked reference asset, subject to a 27.82% upside cap, while limiting its maximum loss from reference-instrument losses to 15% over the July 1, 2026–July 9, 2027 Target Outcome Period.

ISWN The fund seeks to track a rules-based index combining U.S. Treasury securities with EFA options. Its strategy targets approximately 90% Treasury exposure to cushion severe, rare market disruptions while retaining some participation in EFA gains.

Why people hold it

  • BFJL The rare defined-outcome take in a cohort of plain spot bitcoin funds: 15% of downside covered by design, upside sold off to a stated cap.ftportfolios.com
  • Terms are posted up front. The outcome period runs July to July, with the cap and the 15% protection level set at the start, not discovered along the way.ftportfolios.com
  • Floor and cap squeeze the ride at both ends, a structurally different experience from holding bitcoin exposure straight.ftportfolios.com
  • ISWN At 0.49%, it runs about half the 0.89% median of its downside-protection cohort.
  • No artificial ceiling on gains. Buffer peers like IBUF hand back everything above a set cap each outcome period; ISWN's EFA calls carry no stated cap.amplifyetfs.cominnovatoretfs.com
  • The rare international take on the structure: ISWN is the EAFE sibling of Amplify's SWAN, swapping SPY options for EFA options to reach developed markets outside the US.amplifyetfs.com
  • Rules-based, not a judgment call. It tracks the S-Network International BlackSwan Index, which sets the Treasury and option mix on a fixed schedule.amplifyetfs.com

Worth knowing

  • BFJL 0.90% a year is several times what plain spot bitcoin funds such as BITB and HODL charge at 0.20%. That is the toll for the downside engineering.
  • The 15% protection is measured across the full outcome period. Buy mid-period and your personal floor and cap sit at different levels than the headline terms.ftportfolios.com
  • Launched in 2025, still a small fund that trades lightly, so bid-ask spreads are a real part of the entry cost.
  • ISWN The Treasury sleeve targets the duration of the 10-year note, so interest rates steer results as much as EAFE does.amplifyetfs.com
  • The cushion is indirect. It leans on Treasuries holding up when stocks fall, not a contractual buffer, so no fixed percentage of downside is defined.amplifyetfs.com
  • Among the smaller and more thinly traded funds in its category, which can widen bid-ask spreads on entry and exit.

Full BFJL profile⁠

Full ISWN profile⁠

BFJL vs ISWN Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BFJL vs ISWN Cost

Overpaying BFJL vs ISWN

$7,248

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

  • BFJL 0.90%

    $17,040

  • ISWN 0.49%

    $9,792

$10,000
30 years

Cost over time

  • BFJL 0.90%
  • ISWN 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BFJL $17,040ISWN $9,792

Year by year

YearBFJLISWNOverpaying
10$1,593$883$710
20$6,015$3,394$2,621
30$17,040$9,792$7,248

Expense ratio

  • 0.90%BFJL
  • 0.49%ISWN, cheaper
  • Middle half of Other Floor Protected funds
  • Median 0.79%

ISWN cheapest of 18 funds

BFJL 11th cheapest of 18 funds

BFJL vs ISWN Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
BFJL No data
ISWN 3.06%
Payout (12M)
BFJL No data
ISWN $0.65
Last payment
BFJL $0.24
ISWN $0.17
Ex-dividend
BFJL Dec 29, 2025
ISWN Sep 29, 2026
Paid on
BFJL Dec 31, 2025
ISWN Sep 30, 2026
Frequency
BFJL Irregular
ISWN Quarterly

Distribution history

Per share, 2021 to 2026, same scale for both

BFJLIrregular · 1 paymentAll BFJL payments⁠
One bar per payment. 1 payment from 2021 to 2026 YTD. Dec 29, 2025 $0.24. Use the arrow keys to read each point.$0$0.2520232026YTD
ISWNQuarterly · 23 paymentsAll ISWN payments⁠
One bar per payment. 23 payments from 2021 to 2026 YTD. Mar 29, 2021 $0.0067; Jun 28, 2021 $0.02; Sep 28, 2021 $0.03; Dec 29, 2021 $0.13; Mar 29, 2022 $0.04; Jun 28, 2022 $0.07; Sep 28, 2022 $0.12; Dec 28, 2022 $0.13; Mar 29, 2023 $0.14; Jun 28, 2023 $0.14; Sep 27, 2023 $0.14; Dec 27, 2023 $0.14; Mar 26, 2024 $0.14; Jun 27, 2024 $0.14; Sep 27, 2024 $0.15; Dec 30, 2024 $0.15; Mar 28, 2025 $0.16; Jun 27, 2025 $0.15; Sep 29, 2025 $0.15; Dec 30, 2025 $0.16; Mar 30, 2026 $0.16; Jun 29, 2026 $0.16; Sep 29, 2026 $0.17. Use the arrow keys to read each point.$0$0.2520232026YTD

BFJL vs ISWN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BFJL 12.9%since Aug 2025ISWN 12.1%
Return per unit of riskSharpe ratio, 3 years
BFJL −0.73since Aug 2025ISWN 0.54
Worst fallMax drawdown, 5 years
BFJL −21.2%since Jul 2025ISWN −31.7%
Market sensitivityBeta, 5 years
BFJL 0.18ISWN 0.58

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