GTR vs. ISWN

Last updated Jun 5, 2026

GTR (WisdomTree Target Range Fund) and ISWN (Amplify BlackSwan ISWN ETF) are both Options Trading funds. GTR is actively managed, while ISWN is passively managed. Over the past 3 years, GTR returned 12.84%/yr vs 8.44%/yr for ISWN. A 0.62 correlation means they provide meaningful diversification when combined. GTR charges 0.70%/yr vs 0.49%/yr for ISWN.

Performance

GTR vs. ISWN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Target Range Fund (GTR) 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, GTR achieves a 8.44% return, which is significantly higher than ISWN's 4.87% return.

GTR

• 1D: 0.28%
• 1M: 2.20%
• YTD: 8.44%
• 6M: 8.61%
• 1Y: 19.56%
• 3Y*: 12.84%
• 5Y*: —
• 10Y*: —

ISWN

• 1D: 0.57%
• 1M: 1.77%
• YTD: 4.87%
• 6M: 5.68%
• 1Y: 12.73%
• 3Y*: 8.44%
• 5Y*: -0.26%
• 10Y*: —

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

GTR vs. ISWN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GTR WisdomTree Target Range Fund	8.44%	12.90%	8.41%	12.45%	-19.07%	3.77%
ISWN Amplify BlackSwan ISWN ETF	4.87%	23.23%	-3.96%	8.19%	-24.93%	0.72%

Correlation

The correlation between GTR and ISWN is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (All Time) Calculated using the full available price history since Oct 8, 2021	0.62

The correlation between GTR and ISWN shifts across timeframes, from 0.62 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.

GTR vs. ISWN - Sectors Allocation Comparison

Sectors	GTR	ISWN
Technology	27.5%	10.3%
Financial Services	15.9%	1.6%
Industrials	12.1%	19.8%
Healthcare	9.8%	10.6%
Consumer Cyclical	9.3%	7.7%
Communication Services	7.7%	4.5%
Consumer Defensive	4.4%	6.7%
Energy	4.2%	4.0%
Basic Materials	3.7%	5.9%
Utilities	2.7%	4.0%
Real Estate	2.7%	1.9%

Return for Risk

GTR vs. ISWN — Risk / Return Rank

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

GTR

GTR Risk / Return Rank: 66
GTR Sharpe Ratio Rank: 63
GTR Sortino Ratio Rank: 65
GTR Omega Ratio Rank: 63
GTR Calmar Ratio Rank: 67
GTR Martin Ratio Rank: 71

ISWN

ISWN Risk / Return Rank: 29
ISWN Sharpe Ratio Rank: 29
ISWN Sortino Ratio Rank: 29
ISWN Omega Ratio Rank: 29
ISWN Calmar Ratio Rank: 28
ISWN Martin Ratio Rank: 31

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.

GTR vs. ISWN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Target Range Fund (GTR) 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.

	GTR	ISWN	Difference
Sharpe ratio: Return per unit of total volatility	2.08	1.05	+1.03
Sortino ratio: Return per unit of downside risk	2.95	1.54	+1.41
Omega ratio: Gain probability vs. loss probability	1.38	1.19	+0.18
Calmar ratio: Return relative to maximum drawdown	3.29	1.33	+1.96
Martin ratio: Return relative to average drawdown	13.06	4.47	+8.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GTR vs. ISWN - Sharpe Ratio Comparison

The current GTR Sharpe Ratio is 2.08, which is higher than the ISWN Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of GTR 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

	GTR	ISWN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	1.05	+1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.02	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.02	+0.44

Drawdowns

GTR vs. ISWN - Drawdown Comparison

The maximum GTR drawdown since its inception was -21.44%, smaller than the maximum ISWN drawdown of -32.35%. Use the drawdown chart below to compare losses from any high point for GTR and ISWN.

Drawdown Indicators

	GTR	ISWN	Difference
Max Drawdown Largest peak-to-trough decline	-21.44%	-32.35%	+10.91%
Max Drawdown (1Y) Largest decline over 1 year	-5.97%	-9.63%	+3.66%
Max Drawdown (3Y) Largest decline over 3 years	-12.88%	-13.77%	+0.89%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.35%	—
Current Drawdown Current decline from peak	-0.13%	-3.49%	+3.36%
Average Drawdown Average peak-to-trough decline	-8.63%	-16.16%	+7.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.50%	2.86%	-1.36%

Volatility

GTR vs. ISWN - Volatility Comparison

The current volatility for WisdomTree Target Range Fund (GTR) is 2.36%, while Amplify BlackSwan ISWN ETF (ISWN) has a volatility of 4.64%. This indicates that GTR experiences smaller price fluctuations and is considered to be less risky than ISWN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GTR	ISWN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.36%	4.64%	-2.28%
Volatility (6M) Calculated over the trailing 6-month period	6.88%	10.11%	-3.23%
Volatility (1Y) Calculated over the trailing 1-year period	9.45%	12.19%	-2.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.86%	11.67%	-0.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.86%	11.57%	-0.71%

GTR vs. ISWN - Expense Ratio Comparison

GTR has a 0.70% expense ratio, which is higher than ISWN's 0.49% expense ratio.

Dividends

GTR vs. ISWN - Dividend Comparison

GTR's dividend yield for the trailing twelve months is around 5.30%, more than ISWN's 2.80% yield.

Position	TTM	2025	2024	2023	2022	2021
GTR WisdomTree Target Range Fund	5.30%	5.74%	5.30%	2.85%	0.46%	0.00%
ISWN Amplify BlackSwan ISWN ETF	2.80%	2.89%	3.27%	2.91%	2.00%	0.76%

Frequently Asked Questions

Can I hold both GTR and ISWN in my portfolio?

GTR and ISWN have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GTR or ISWN?

ISWN has higher volatility (4.64%) compared to GTR (2.36%). In terms of maximum drawdown, GTR dropped -21.44% vs ISWN's -32.35%.

Which ETF is better, GTR or ISWN?

On 3-year performance, GTR leads with 12.84% vs 8.44% for ISWN. On fees, ISWN is cheaper at 0.49% per year. On volatility, GTR has been the lower-risk option at 2.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GTR or ISWN?

Over the 3-year period, GTR has performed better with a 12.84% return vs 8.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GTR or ISWN?

ISWN is cheaper with a 0.49% expense ratio, compared with 0.70% for GTR.

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

GTR has the higher dividend yield at 5.30%, compared with 2.80% for ISWN.

What is the main difference between GTR and ISWN?

They also come from different issuers: WisdomTree and Amplify. Their fees differ too: 0.70% for GTR and 0.49% for ISWN.

Which has better risk-adjusted returns?

GTR currently has the higher Sharpe Ratio (2.08 vs 1.05), 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.