ISWN vs. AMZY

Last updated Apr 1, 2026

Compare and contrast key facts about Amplify BlackSwan ISWN ETF (ISWN) and YieldMax AMZN Option Income Strategy ETF (AMZY).

ISWN and AMZY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ISWN is a passively managed fund by Amplify that tracks the performance of the S-Network International BlackSwan. It was launched on Jan 25, 2021. AMZY is an actively managed fund by YieldMax. It was launched on Jul 24, 2023.

Performance

ISWN vs. AMZY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify BlackSwan ISWN ETF (ISWN) and YieldMax AMZN Option Income Strategy ETF (AMZY). The values are adjusted to include any dividend payments, if applicable.

ISWN vs. AMZY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ISWN Amplify BlackSwan ISWN ETF	0.94%	23.23%	-3.96%	2.06%
AMZY YieldMax AMZN Option Income Strategy ETF	-9.58%	10.39%	35.28%	18.31%

Returns By Period

In the year-to-date period, ISWN achieves a 0.94% return, which is significantly higher than AMZY's -9.58% return.

ISWN

• 1D: 2.06%
• 1M: -6.89%
• YTD: 0.94%
• 6M: 3.42%
• 1Y: 15.90%
• 3Y*: 6.58%
• 5Y*: -0.01%
• 10Y*: —

AMZY

• 1D: 2.61%
• 1M: 0.54%
• YTD: -9.58%
• 6M: -5.71%
• 1Y: 8.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ISWN vs. AMZY - Expense Ratio Comparison

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

AMZY

YieldMax AMZN Option Income Strategy ETF

ISWN

Amplify BlackSwan ISWN ETF

Return for Risk

ISWN vs. AMZY — Risk / Return Rank

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

ISWN

ISWN Risk / Return Rank: 68
ISWN Sharpe Ratio Rank: 74
ISWN Sortino Ratio Rank: 73
ISWN Omega Ratio Rank: 65
ISWN Calmar Ratio Rank: 63
ISWN Martin Ratio Rank: 65

AMZY

AMZY Risk / Return Rank: 22
AMZY Sharpe Ratio Rank: 22
AMZY Sortino Ratio Rank: 24
AMZY Omega Ratio Rank: 23
AMZY Calmar Ratio Rank: 21
AMZY Martin Ratio Rank: 20

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. AMZY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify BlackSwan ISWN ETF (ISWN) and YieldMax AMZN Option Income Strategy ETF (AMZY). 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.

	ISWN	AMZY	Difference
Sharpe ratio Return per unit of total volatility	1.35	0.32	+1.03
Sortino ratio Return per unit of downside risk	1.86	0.62	+1.24
Omega ratio Gain probability vs. loss probability	1.24	1.08	+0.16
Calmar ratio Return relative to maximum drawdown	1.61	0.37	+1.24
Martin ratio Return relative to average drawdown	6.68	0.94	+5.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ISWN vs. AMZY - Sharpe Ratio Comparison

The current ISWN Sharpe Ratio is 1.35, which is higher than the AMZY Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of ISWN and AMZY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ISWN	AMZY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	0.32	+1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.00	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	0.76	-0.80

Correlation

The correlation between ISWN and AMZY is 0.30, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ISWN vs. AMZY - Dividend Comparison

ISWN's dividend yield for the trailing twelve months is around 2.91%, less than AMZY's 60.32% yield.

	TTM	2025	2024	2023	2022	2021
ISWN Amplify BlackSwan ISWN ETF	2.91%	2.89%	3.27%	2.91%	2.00%	0.76%
AMZY YieldMax AMZN Option Income Strategy ETF	60.32%	52.59%	47.91%	9.90%	0.00%	0.00%

Drawdowns

ISWN vs. AMZY - Drawdown Comparison

The maximum ISWN drawdown since its inception was -32.35%, which is greater than AMZY's maximum drawdown of -23.70%. Use the drawdown chart below to compare losses from any high point for ISWN and AMZY.

Drawdown Indicators

	ISWN	AMZY	Difference
Max Drawdown Largest peak-to-trough decline	-32.35%	-23.70%	-8.65%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-19.61%	+9.98%
Max Drawdown (5Y) Largest decline over 5 years	-32.35%	—	—
Current Drawdown Current decline from peak	-7.11%	-15.72%	+8.61%
Average Drawdown Average peak-to-trough decline	-16.57%	-5.44%	-11.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	7.80%	-5.48%

Volatility

ISWN vs. AMZY - Volatility Comparison

The current volatility for Amplify BlackSwan ISWN ETF (ISWN) is 6.13%, while YieldMax AMZN Option Income Strategy ETF (AMZY) has a volatility of 7.29%. This indicates that ISWN experiences smaller price fluctuations and is considered to be less risky than AMZY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISWN	AMZY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	7.29%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	8.60%	17.86%	-9.26%
Volatility (1Y) Calculated over the trailing 1-year period	11.81%	26.95%	-15.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.47%	25.26%	-13.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.40%	25.26%	-13.86%