GAMR vs. ISWN

Last updated Jun 4, 2026

GAMR (Amplify Video Game Leaders ETF) and ISWN (Amplify BlackSwan ISWN ETF) are both exchange-traded funds - GAMR is a Gaming fund tracking the VettaFi Video Game Leaders Index, while ISWN is a Options Trading fund tracking the S-Network International BlackSwan. Both are passively managed. Over the past 5 years, GAMR returned -0.52%/yr vs -0.37%/yr for ISWN. A 0.52 correlation means they provide meaningful diversification when combined. GAMR charges 0.59%/yr vs 0.49%/yr for ISWN.

Performance

GAMR vs. ISWN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Video Game Leaders ETF (GAMR) and Amplify BlackSwan ISWN ETF (ISWN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GAMR achieves a 3.68% return, which is significantly lower than ISWN's 4.28% return.

GAMR

• 1D: -0.83%
• 1M: 13.55%
• YTD: 3.68%
• 6M: 1.71%
• 1Y: 19.82%
• 3Y*: 16.12%
• 5Y*: -0.52%
• 10Y*: 12.82%

ISWN

• 1D: -0.80%
• 1M: 2.01%
• YTD: 4.28%
• 6M: 4.94%
• 1Y: 13.27%
• 3Y*: 8.12%
• 5Y*: -0.37%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GAMR vs. ISWN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GAMR Amplify Video Game Leaders ETF	3.68%	39.20%	11.23%	6.89%	-36.96%	-7.25%
ISWN Amplify BlackSwan ISWN ETF	4.28%	23.23%	-3.96%	8.19%	-24.93%	0.44%

Correlation

The correlation between GAMR and ISWN is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jan 27, 2021	0.52

The correlation between GAMR and ISWN has been stable across timeframes, ranging from 0.52 to 0.54 - a consistent structural relationship.

GAMR vs. ISWN - Sectors Allocation Comparison

Sectors	GAMR	ISWN
Technology	66.0%	10.3%
Communication Services	25.0%	4.5%
Consumer Cyclical	8.7%	7.7%
Financial Services	0.1%	1.6%
Basic Materials	-	5.9%
Consumer Defensive	-	6.7%
Energy	-	4.0%
Healthcare	-	10.6%
Industrials	-	19.8%
Real Estate	-	1.9%
Utilities	-	4.0%

Return for Risk

GAMR vs. ISWN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GAMR

GAMR Risk / Return Rank: 21
GAMR Sharpe Ratio Rank: 25
GAMR Sortino Ratio Rank: 24
GAMR Omega Ratio Rank: 25
GAMR Calmar Ratio Rank: 17
GAMR Martin Ratio Rank: 16

ISWN

ISWN Risk / Return Rank: 30
ISWN Sharpe Ratio Rank: 30
ISWN Sortino Ratio Rank: 29
ISWN Omega Ratio Rank: 30
ISWN Calmar Ratio Rank: 29
ISWN Martin Ratio Rank: 32

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GAMR vs. ISWN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Video Game Leaders ETF (GAMR) and Amplify BlackSwan ISWN ETF (ISWN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	GAMR	ISWN	Difference
Sharpe ratio Return per unit of total volatility	0.89	1.09	-0.20
Sortino ratio Return per unit of downside risk	1.30	1.60	-0.30
Omega ratio Gain probability vs. loss probability	1.17	1.20	-0.03
Calmar ratio Return relative to maximum drawdown	0.68	1.38	-0.71
Martin ratio Return relative to average drawdown	1.55	4.67	-3.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GAMR vs. ISWN - Sharpe Ratio Comparison

The current GAMR Sharpe Ratio is 0.89, which is comparable to the ISWN Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of GAMR and ISWN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GAMR	ISWN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	1.09	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	-0.03	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.01	+0.56

Drawdowns

GAMR vs. ISWN - Drawdown Comparison

The maximum GAMR drawdown since its inception was -55.37%, which is greater than ISWN's maximum drawdown of -32.35%. Use the drawdown chart below to compare losses from any high point for GAMR and ISWN.

Drawdown Indicators

	GAMR	ISWN	Difference
Max Drawdown Largest peak-to-trough decline	-55.37%	-32.35%	-23.02%
Max Drawdown (1Y) Largest decline over 1 year	-29.36%	-9.63%	-19.73%
Max Drawdown (3Y) Largest decline over 3 years	-29.36%	-13.77%	-15.59%
Max Drawdown (5Y) Largest decline over 5 years	-50.57%	-32.35%	-18.22%
Max Drawdown (10Y) Largest decline over 10 years	-55.37%	—	—
Current Drawdown Current decline from peak	-13.61%	-4.03%	-9.58%
Average Drawdown Average peak-to-trough decline	-22.13%	-16.17%	-5.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.82%	2.85%	+9.97%

Volatility

GAMR vs. ISWN - Volatility Comparison

Amplify Video Game Leaders ETF (GAMR) has a higher volatility of 5.88% compared to Amplify BlackSwan ISWN ETF (ISWN) at 4.67%. This indicates that GAMR's price experiences larger fluctuations and is considered to be riskier than ISWN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GAMR	ISWN	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.88%	4.67%	+1.21%
Volatility (6M) Calculated over the trailing 6-month period	17.37%	10.10%	+7.27%
Volatility (1Y) Calculated over the trailing 1-year period	22.32%	12.20%	+10.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.35%	11.67%	+12.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.27%	11.57%	+12.70%

GAMR vs. ISWN - Expense Ratio Comparison

GAMR has a 0.59% expense ratio, which is higher than ISWN's 0.49% expense ratio.

Dividends

GAMR vs. ISWN - Dividend Comparison

GAMR's dividend yield for the trailing twelve months is around 0.50%, less than ISWN's 2.82% yield.

Position	TTM	2025	2024	2023	2022	2021
GAMR Amplify Video Game Leaders ETF	0.50%	0.52%	0.63%	0.00%	0.00%	0.00%
ISWN Amplify BlackSwan ISWN ETF	2.82%	2.89%	3.27%	2.91%	2.00%	0.76%

Frequently Asked Questions

Can I hold both GAMR and ISWN in my portfolio?

GAMR and ISWN have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GAMR or ISWN?

GAMR has higher volatility (5.88%) compared to ISWN (4.67%). In terms of maximum drawdown, GAMR dropped -55.37% vs ISWN's -32.35%.

Which ETF is better, GAMR or ISWN?

On 5-year performance, ISWN leads with -0.37% vs -0.52% for GAMR. On fees, ISWN is cheaper at 0.49% per year. On volatility, ISWN has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GAMR or ISWN?

Over the 5-year period, ISWN has performed better with a -0.37% return vs -0.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GAMR or ISWN?

ISWN is cheaper with a 0.49% expense ratio, compared with 0.59% for GAMR.

Which ETF pays a higher dividend yield, GAMR or ISWN?

ISWN has the higher dividend yield at 2.82%, compared with 0.50% for GAMR.

What is the main difference between GAMR and ISWN?

GAMR is categorized as Gaming, while ISWN is Options Trading. GAMR tracks VettaFi Video Game Leaders Index, while ISWN tracks S-Network International BlackSwan. Their fees differ too: 0.59% for GAMR and 0.49% for ISWN.

Which has better risk-adjusted returns?

ISWN currently has the higher Sharpe Ratio (1.09 vs 0.89), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.