IFEB vs. ISWN

Last updated Jun 4, 2026

IFEB (Innovator International Developed Power Buffer ETF - February) and ISWN (Amplify BlackSwan ISWN ETF) are both Options Trading funds. IFEB is actively managed, while ISWN is passively managed. Over the past year, IFEB returned 10.26% vs 13.27% for ISWN. Their correlation of 0.87 suggests significant overlap in exposure. IFEB charges 0.85%/yr vs 0.49%/yr for ISWN.

Performance

IFEB vs. ISWN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF - February (IFEB) 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, IFEB achieves a 2.84% return, which is significantly lower than ISWN's 4.28% return.

IFEB

• 1D: -0.28%
• 1M: 1.98%
• YTD: 2.84%
• 6M: 3.95%
• 1Y: 10.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

IFEB vs. ISWN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IFEB Innovator International Developed Power Buffer ETF - February	2.84%	19.46%	0.54%
ISWN Amplify BlackSwan ISWN ETF	4.28%	23.23%	-3.93%

Correlation

The correlation between IFEB and ISWN is 0.87, 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	0.87
Correlation (All Time) Calculated using the full available price history since Feb 2, 2024	0.87

The correlation between IFEB and ISWN has been stable across timeframes, ranging from 0.87 to 0.87 - a consistent structural relationship.

IFEB vs. ISWN - Sectors Allocation Comparison

Sectors	IFEB	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

IFEB vs. ISWN — Risk / Return Rank

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

IFEB

IFEB Risk / Return Rank: 39
IFEB Sharpe Ratio Rank: 39
IFEB Sortino Ratio Rank: 39
IFEB Omega Ratio Rank: 45
IFEB Calmar Ratio Rank: 33
IFEB Martin Ratio Rank: 41

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.

IFEB vs. ISWN - Risk-Adjusted Trends Comparison

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

	IFEB	ISWN	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.09	+0.27
Sortino ratio: Return per unit of downside risk	1.99	1.60	+0.39
Omega ratio: Gain probability vs. loss probability	1.28	1.20	+0.08
Calmar ratio: Return relative to maximum drawdown	1.59	1.38	+0.21
Martin ratio: Return relative to average drawdown	6.51	4.67	+1.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IFEB vs. ISWN - Sharpe Ratio Comparison

The current IFEB Sharpe Ratio is 1.37, which is comparable to the ISWN Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of IFEB 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

	IFEB	ISWN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	1.09	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.03	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	0.01	+1.04

Drawdowns

IFEB vs. ISWN - Drawdown Comparison

The maximum IFEB drawdown since its inception was -8.84%, smaller than the maximum ISWN drawdown of -32.35%. Use the drawdown chart below to compare losses from any high point for IFEB and ISWN.

Drawdown Indicators

	IFEB	ISWN	Difference
Max Drawdown Largest peak-to-trough decline	-8.84%	-32.35%	+23.51%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-9.63%	+3.16%
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	-0.41%	-4.03%	+3.62%
Average Drawdown Average peak-to-trough decline	-1.68%	-16.17%	+14.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	2.85%	-1.27%

Volatility

IFEB vs. ISWN - Volatility Comparison

The current volatility for Innovator International Developed Power Buffer ETF - February (IFEB) is 2.58%, while Amplify BlackSwan ISWN ETF (ISWN) has a volatility of 4.67%. This indicates that IFEB 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

	IFEB	ISWN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	4.67%	-2.09%
Volatility (6M) Calculated over the trailing 6-month period	6.52%	10.10%	-3.58%
Volatility (1Y) Calculated over the trailing 1-year period	7.55%	12.20%	-4.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.09%	11.67%	-2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.09%	11.57%	-2.48%

IFEB vs. ISWN - Expense Ratio Comparison

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

Dividends

IFEB vs. ISWN - Dividend Comparison

IFEB has not paid dividends to shareholders, while ISWN's dividend yield for the trailing twelve months is around 2.82%.

Position	TTM	2025	2024	2023	2022	2021
IFEB Innovator International Developed Power Buffer ETF - February	0.00%	0.00%	0.00%	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 IFEB and ISWN in my portfolio?

IFEB and ISWN have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IFEB or ISWN?

ISWN has higher volatility (4.67%) compared to IFEB (2.58%). In terms of maximum drawdown, IFEB dropped -8.84% vs ISWN's -32.35%.

Which ETF is better, IFEB or ISWN?

On 1-year performance, ISWN leads with 13.27% vs 10.26% for IFEB. On fees, ISWN is cheaper at 0.49% per year. On volatility, IFEB has been the lower-risk option at 2.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IFEB or ISWN?

Over the 1-year period, ISWN has performed better with a 13.27% return vs 10.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IFEB or ISWN?

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

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

ISWN has the higher dividend yield at 2.82%, compared with 0.00% for IFEB.

What is the main difference between IFEB and ISWN?

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

Which has better risk-adjusted returns?

IFEB currently has the higher Sharpe Ratio (1.37 vs 1.09), 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.