ISWN vs. AMZP

Last updated Jun 24, 2026

ISWN (Amplify BlackSwan ISWN ETF) and AMZP (Kurv Yield Premium Strategy Amazon AMZN ETF) are both Options Trading funds. ISWN is passively managed, while AMZP is actively managed. Over the past year, ISWN returned 12.46% vs 11.65% for AMZP. At a 0.32 correlation, their price movements are largely independent. ISWN charges 0.49%/yr vs 0.99%/yr for AMZP.

Performance

ISWN vs. AMZP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify BlackSwan ISWN ETF (ISWN) and Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISWN achieves a 4.03% return, which is significantly higher than AMZP's -2.19% return.

ISWN

• 1D: -1.33%
• 1M: 0.30%
• YTD: 4.03%
• 6M: 3.82%
• 1Y: 12.46%
• 3Y*: 8.37%
• 5Y*: -0.26%
• 10Y*: —

AMZP

• 1D: 0.48%
• 1M: -13.35%
• YTD: -2.19%
• 6M: -2.18%
• 1Y: 11.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ISWN vs. AMZP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ISWN Amplify BlackSwan ISWN ETF	4.03%	23.23%	-3.96%	9.87%
AMZP Kurv Yield Premium Strategy Amazon AMZN ETF	-2.19%	9.56%	37.42%	7.73%

Correlation

The correlation between ISWN and AMZP is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (All Time) Calculated using the full available price history since Nov 6, 2023	0.32

Return for Risk

ISWN vs. AMZP — Risk / Return Rank

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

ISWN

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

AMZP

AMZP Risk / Return Rank: 14
AMZP Sharpe Ratio Rank: 14
AMZP Sortino Ratio Rank: 15
AMZP Omega Ratio Rank: 15
AMZP Calmar Ratio Rank: 14
AMZP Martin Ratio Rank: 14

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.

ISWN vs. AMZP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify BlackSwan ISWN ETF (ISWN) and Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ISWN	AMZP	Difference
Sharpe ratio: Return per unit of total volatility	0.98	0.39	+0.59
Sortino ratio: Return per unit of downside risk	1.45	0.73	+0.72
Omega ratio: Gain probability vs. loss probability	1.18	1.09	+0.09
Calmar ratio: Return relative to maximum drawdown	1.30	0.50	+0.80
Martin ratio: Return relative to average drawdown	4.19	1.21	+2.98

ISWN vs. AMZP - Sharpe Ratio Comparison

The current ISWN Sharpe Ratio is 0.98, which is higher than the AMZP Sharpe Ratio of 0.39. The chart below compares the historical Sharpe Ratios of ISWN and AMZP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ISWN vs. AMZP - Drawdown Comparison

The maximum ISWN drawdown since its inception was -32.35%, which is greater than AMZP's maximum drawdown of -27.36%. Use the drawdown chart below to compare losses from any high point for ISWN and AMZP.

Drawdown Indicators

	ISWN	AMZP	Difference
Max Drawdown Largest peak-to-trough decline	-32.35%	-27.36%	-4.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-23.64%	+14.01%
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	-4.26%	-16.53%	+12.27%
Average Drawdown Average peak-to-trough decline	-16.05%	-6.16%	-9.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	9.67%	-6.69%

Volatility

ISWN vs. AMZP - Volatility Comparison

The current volatility for Amplify BlackSwan ISWN ETF (ISWN) is 4.70%, while Kurv Yield Premium Strategy Amazon AMZN ETF (AMZP) has a volatility of 10.66%. This indicates that ISWN experiences smaller price fluctuations and is considered to be less risky than AMZP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISWN	AMZP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	10.66%	-5.96%
Volatility (6M) Calculated over the trailing 6-month period	10.86%	23.61%	-12.75%
Volatility (1Y) Calculated over the trailing 1-year period	12.76%	30.20%	-17.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.82%	27.14%	-15.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.67%	27.14%	-15.47%

ISWN vs. AMZP - Expense Ratio Comparison

ISWN has a 0.49% expense ratio, which is lower than AMZP's 0.99% expense ratio.

Dividends

ISWN vs. AMZP - Dividend Comparison

ISWN's dividend yield for the trailing twelve months is around 2.83%, less than AMZP's 20.90% yield.

Position	TTM	2025	2024	2023	2022	2021
AMZP Kurv Yield Premium Strategy Amazon AMZN ETF	20.90%	22.04%	15.15%	2.45%	0.00%	0.00%
ISWN Amplify BlackSwan ISWN ETF	2.83%	2.89%	3.27%	2.91%	2.00%	0.76%

Frequently Asked Questions

Can I hold both ISWN and AMZP in my portfolio?

ISWN and AMZP have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISWN or AMZP?

AMZP has higher volatility (10.66%) compared to ISWN (4.70%). In terms of maximum drawdown, ISWN dropped -32.35% vs AMZP's -27.36%.

Which ETF is better, ISWN or AMZP?

On 1-year performance, ISWN leads with 12.46% vs 11.65% for AMZP. On fees, ISWN is cheaper at 0.49% per year. On volatility, ISWN has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ISWN or AMZP?

Over the 1-year period, ISWN has performed better with a 12.46% return vs 11.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ISWN or AMZP?

ISWN is cheaper with a 0.49% expense ratio, compared with 0.99% for AMZP.

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

AMZP has the higher dividend yield at 20.90%, compared with 2.83% for ISWN.

What is the main difference between ISWN and AMZP?

They also come from different issuers: Amplify and Kurv. Their fees differ too: 0.49% for ISWN and 0.99% for AMZP.

Which has better risk-adjusted returns?

ISWN currently has the higher Sharpe Ratio (0.98 vs 0.39), 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.