IDEC vs. ISWN

Last updated Jun 6, 2026

IDEC (Innovator International Developed Power Buffer ETF - December) and ISWN (Amplify BlackSwan ISWN ETF) are both Options Trading funds. IDEC is actively managed, while ISWN is passively managed. Over the past year, IDEC returned 13.46% vs 10.60% for ISWN. Their correlation of 0.88 suggests significant overlap in exposure. IDEC charges 0.85%/yr vs 0.49%/yr for ISWN.

Performance

IDEC vs. ISWN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF - December (IDEC) 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, IDEC achieves a 4.16% return, which is significantly higher than ISWN's 2.53% return.

IDEC

• 1D: -1.58%
• 1M: -1.26%
• YTD: 4.16%
• 6M: 5.44%
• 1Y: 13.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ISWN

• 1D: -2.24%
• 1M: -3.06%
• YTD: 2.53%
• 6M: 3.48%
• 1Y: 10.60%
• 3Y*: 7.43%
• 5Y*: -0.71%
• 10Y*: —

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

IDEC vs. ISWN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IDEC Innovator International Developed Power Buffer ETF - December	4.16%	21.78%	2.50%	2.78%
ISWN Amplify BlackSwan ISWN ETF	2.53%	23.23%	-3.96%	4.71%

Correlation

The correlation between IDEC and ISWN is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Dec 4, 2023	0.88

The correlation between IDEC and ISWN has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

IDEC vs. ISWN - Sectors Allocation Comparison

Sectors	IDEC	ISWN
Financial Services	24.7%	1.6%
Industrials	19.8%	19.8%
Healthcare	10.6%	10.6%
Technology	10.3%	10.3%
Consumer Cyclical	7.7%	7.7%
Consumer Defensive	6.7%	6.7%
Basic Materials	5.9%	5.9%
Communication Services	4.5%	4.5%
Energy	4.0%	4.0%
Utilities	4.0%	4.0%
Real Estate	1.9%	1.9%

Return for Risk

IDEC vs. ISWN — Risk / Return Rank

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

IDEC

IDEC Risk / Return Rank: 49
IDEC Sharpe Ratio Rank: 49
IDEC Sortino Ratio Rank: 49
IDEC Omega Ratio Rank: 52
IDEC Calmar Ratio Rank: 43
IDEC Martin Ratio Rank: 51

ISWN

ISWN Risk / Return Rank: 25
ISWN Sharpe Ratio Rank: 25
ISWN Sortino Ratio Rank: 25
ISWN Omega Ratio Rank: 25
ISWN Calmar Ratio Rank: 24
ISWN Martin Ratio Rank: 28

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.

IDEC vs. ISWN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - December (IDEC) 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.

	IDEC	ISWN	Difference
Sharpe ratio: Return per unit of total volatility	1.55	0.86	+0.69
Sortino ratio: Return per unit of downside risk	2.24	1.27	+0.97
Omega ratio: Gain probability vs. loss probability	1.30	1.16	+0.14
Calmar ratio: Return relative to maximum drawdown	1.97	1.11	+0.86
Martin ratio: Return relative to average drawdown	8.03	3.70	+4.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IDEC vs. ISWN - Sharpe Ratio Comparison

The current IDEC Sharpe Ratio is 1.55, which is higher than the ISWN Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of IDEC 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

	IDEC	ISWN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	0.86	+0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.28	-0.02	+1.29

Drawdowns

IDEC vs. ISWN - Drawdown Comparison

The maximum IDEC drawdown since its inception was -8.51%, smaller than the maximum ISWN drawdown of -32.35%. Use the drawdown chart below to compare losses from any high point for IDEC and ISWN.

Drawdown Indicators

	IDEC	ISWN	Difference
Max Drawdown Largest peak-to-trough decline	-8.51%	-32.35%	+23.84%
Max Drawdown (1Y) Largest decline over 1 year	-6.87%	-9.63%	+2.76%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-32.35%	—
Current Drawdown Current decline from peak	-1.61%	-5.65%	+4.04%
Average Drawdown Average peak-to-trough decline	-1.54%	-16.16%	+14.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	2.87%	-1.19%

Volatility

IDEC vs. ISWN - Volatility Comparison

The current volatility for Innovator International Developed Power Buffer ETF - December (IDEC) is 2.67%, while Amplify BlackSwan ISWN ETF (ISWN) has a volatility of 4.41%. This indicates that IDEC 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

	IDEC	ISWN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	4.41%	-1.74%
Volatility (6M) Calculated over the trailing 6-month period	7.60%	10.35%	-2.75%
Volatility (1Y) Calculated over the trailing 1-year period	8.74%	12.36%	-3.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.68%	11.70%	-2.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.68%	11.61%	-1.93%

IDEC vs. ISWN - Expense Ratio Comparison

IDEC has a 0.85% expense ratio, which is higher than ISWN's 0.49% expense ratio.

Dividends

IDEC vs. ISWN - Dividend Comparison

IDEC has not paid dividends to shareholders, while ISWN's dividend yield for the trailing twelve months is around 2.87%.

Position	TTM	2025	2024	2023	2022	2021
IDEC Innovator International Developed Power Buffer ETF - December	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ISWN Amplify BlackSwan ISWN ETF	2.87%	2.89%	3.27%	2.91%	2.00%	0.76%

Frequently Asked Questions

Can I hold both IDEC and ISWN in my portfolio?

With a correlation of 0.90, IDEC and ISWN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IDEC or ISWN?

ISWN has higher volatility (4.41%) compared to IDEC (2.67%). In terms of maximum drawdown, IDEC dropped -8.51% vs ISWN's -32.35%.

Which ETF is better, IDEC or ISWN?

On 1-year performance, IDEC leads with 13.46% vs 10.60% for ISWN. On fees, ISWN is cheaper at 0.49% per year. On volatility, IDEC has been the lower-risk option at 2.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IDEC or ISWN?

Over the 1-year period, IDEC has performed better with a 13.46% return vs 10.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IDEC or ISWN?

ISWN is cheaper with a 0.49% expense ratio, compared with 0.85% for IDEC.

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

ISWN has the higher dividend yield at 2.87%, compared with 0.00% for IDEC.

What is the main difference between IDEC and ISWN?

They also come from different issuers: Innovator and Amplify. Their fees differ too: 0.85% for IDEC and 0.49% for ISWN.

Which has better risk-adjusted returns?

IDEC currently has the higher Sharpe Ratio (1.55 vs 0.86), 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.