ISWN vs. IOCT
ISWN (Amplify BlackSwan ISWN ETF) and IOCT (Innovator International Developed Power Buffer ETF- October) are both Options Trading funds. ISWN is passively managed, while IOCT is actively managed. Over the past 3 years, ISWN returned 8.59%/yr vs 12.59%/yr for IOCT. Their 0.76 correlation means they have sometimes moved together and sometimes differently. ISWN charges 0.49%/yr vs 0.85%/yr for IOCT.
Performance
ISWN vs. IOCT - Performance Comparison
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Returns By Period
In the year-to-date period, ISWN achieves a 4.88% return, which is significantly lower than IOCT's 7.67% return.
ISWN
- 1D
- -0.78%
- 1M
- -0.36%
- 6M
- 1.64%
- YTD
- 4.88%
- 1Y
- 12.65%
- 3Y*
- 8.59%
- 5Y*
- -0.39%
- 10Y*
- —
- ALL TIME*
- 0.19%
IOCT
- 1D
- -0.08%
- 1M
- 1.23%
- 6M
- 5.11%
- YTD
- 7.67%
- 1Y
- 16.69%
- 3Y*
- 12.59%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.78%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $247.57K | $311.11K | $341.04K | |
| $43.70K | $37.63K | $41.07K |
ISWN vs. IOCT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ISWN Amplify BlackSwan ISWN ETF | 4.88% | 23.23% | -3.96% | 8.19% | -24.93% | 0.20% |
IOCT Innovator International Developed Power Buffer ETF- October | 7.67% | 18.96% | 4.88% | 17.54% | -6.31% | 1.48% |
Correlation
The correlation between ISWN and IOCT is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2021 | 0.76 |
The correlation between ISWN and IOCT shifts across timeframes, from 0.76 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ISWN vs. IOCT — Risk / Return Rank
ISWN
IOCT
ISWN vs. IOCT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amplify BlackSwan ISWN ETF (ISWN) and Innovator International Developed Power Buffer ETF- October (IOCT). 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 | IOCT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.86 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.35 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.40 | 2.79 | -1.39 |
| Martin ratioReturn relative to average drawdown | 4.25 | 11.22 | -6.96 |
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Drawdowns
ISWN vs. IOCT - Drawdown Comparison
The maximum ISWN drawdown since its inception was -32.35%, which is greater than IOCT's maximum drawdown of -16.94%. Use the drawdown chart below to compare losses from any high point for ISWN and IOCT.
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Drawdown Indicators
| ISWN | IOCT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.35% | -16.94% | -15.41% |
Max Drawdown (1Y)Largest decline over 1 year | -9.63% | -5.84% | -3.79% |
Max Drawdown (3Y)Largest decline over 3 years | -13.77% | -7.54% | -6.23% |
Max Drawdown (5Y)Largest decline over 5 years | -32.35% | — | — |
Current DrawdownCurrent decline from peak | -3.48% | -0.08% | -3.40% |
Average DrawdownAverage peak-to-trough decline | -15.81% | -2.59% | -13.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 1.45% | +1.72% |
Volatility
ISWN vs. IOCT - Volatility Comparison
Amplify BlackSwan ISWN ETF (ISWN) has a higher volatility of 3.96% compared to Innovator International Developed Power Buffer ETF- October (IOCT) at 2.32%. This indicates that ISWN's price experiences larger fluctuations and is considered to be riskier than IOCT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISWN | IOCT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.96% | 2.32% | +1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 11.24% | 6.88% | +4.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.90% | 8.59% | +4.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.92% | 9.33% | +2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.68% | 9.33% | +2.35% |
ISWN vs. IOCT - Expense Ratio Comparison
ISWN has a 0.49% expense ratio, which is lower than IOCT's 0.85% expense ratio.
Dividends
ISWN vs. IOCT - Dividend Comparison
ISWN's dividend yield for the trailing twelve months is around 2.87%, while IOCT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
IOCT Innovator International Developed Power Buffer ETF- October | 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
With a correlation of 0.91, ISWN and IOCT 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.
ISWN has higher volatility (3.96%) compared to IOCT (2.32%). In terms of maximum drawdown, ISWN dropped -32.35% vs IOCT's -16.94%.
On 3-year performance, IOCT leads with 12.59% vs 8.59% for ISWN. On fees, ISWN is cheaper at 0.49% per year. On volatility, IOCT has been the lower-risk option at 2.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IOCT has performed better with a 12.59% return vs 8.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISWN is cheaper with a 0.49% expense ratio, compared with 0.85% for IOCT.
ISWN has the higher dividend yield at 2.87%, compared with 0.00% for IOCT.
They also come from different issuers: Amplify and Innovator. Their fees differ too: 0.49% for ISWN and 0.85% for IOCT.
IOCT currently has the higher Sharpe Ratio (1.90 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.
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