JULZ vs. ISWN

Last updated Jun 24, 2026

JULZ (Trueshares Structured Outcome (July) ETF) and ISWN (Amplify BlackSwan ISWN ETF) are both Options Trading funds - JULZ tracks the Cboe S&P 500 Buffer Protect Index July while ISWN tracks the S-Network International BlackSwan. Both are passively managed. Over the past 5 years, JULZ returned 10.56%/yr vs -0.26%/yr for ISWN. A 0.56 correlation means they provide meaningful diversification when combined. JULZ charges 0.79%/yr vs 0.49%/yr for ISWN.

Performance

JULZ vs. ISWN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trueshares Structured Outcome (July) ETF (JULZ) 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, JULZ achieves a 6.03% return, which is significantly higher than ISWN's 4.03% return.

JULZ

• 1D: -1.21%
• 1M: -1.47%
• YTD: 6.03%
• 6M: 5.25%
• 1Y: 18.08%
• 3Y*: 15.38%
• 5Y*: 10.56%
• 10Y*: —

ISWN

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

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

JULZ vs. ISWN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
JULZ Trueshares Structured Outcome (July) ETF	6.03%	13.23%	18.76%	17.65%	-9.34%	18.42%
ISWN Amplify BlackSwan ISWN ETF	4.03%	23.23%	-3.96%	8.19%	-24.93%	0.23%

Correlation

The correlation between JULZ and ISWN is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Jan 26, 2021	0.56

The correlation between JULZ and ISWN shifts across timeframes, from 0.55 (5 years) to 0.65 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

JULZ vs. ISWN — Risk / Return Rank

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

JULZ

JULZ Risk / Return Rank: 52
JULZ Sharpe Ratio Rank: 53
JULZ Sortino Ratio Rank: 52
JULZ Omega Ratio Rank: 52
JULZ Calmar Ratio Rank: 46
JULZ Martin Ratio Rank: 55

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

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.

JULZ vs. ISWN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trueshares Structured Outcome (July) ETF (JULZ) 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.

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.

	JULZ	ISWN	Difference
Sharpe ratio: Return per unit of total volatility	1.69	0.98	+0.71
Sortino ratio: Return per unit of downside risk	2.34	1.45	+0.89
Omega ratio: Gain probability vs. loss probability	1.30	1.18	+0.12
Calmar ratio: Return relative to maximum drawdown	2.13	1.30	+0.83
Martin ratio: Return relative to average drawdown	9.01	4.19	+4.82

JULZ vs. ISWN - Sharpe Ratio Comparison

The current JULZ Sharpe Ratio is 1.69, which is higher than the ISWN Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of JULZ 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.

Drawdowns

JULZ vs. ISWN - Drawdown Comparison

The maximum JULZ drawdown since its inception was -14.71%, smaller than the maximum ISWN drawdown of -32.35%. Use the drawdown chart below to compare losses from any high point for JULZ and ISWN.

Drawdown Indicators

	JULZ	ISWN	Difference
Max Drawdown Largest peak-to-trough decline	-14.71%	-32.35%	+17.64%
Max Drawdown (1Y) Largest decline over 1 year	-8.53%	-9.63%	+1.10%
Max Drawdown (3Y) Largest decline over 3 years	-14.71%	-13.77%	-0.94%
Max Drawdown (5Y) Largest decline over 5 years	-14.71%	-32.35%	+17.64%
Current Drawdown Current decline from peak	-3.04%	-4.26%	+1.22%
Average Drawdown Average peak-to-trough decline	-2.97%	-16.05%	+13.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	2.98%	-0.97%

Volatility

JULZ vs. ISWN - Volatility Comparison

The current volatility for Trueshares Structured Outcome (July) ETF (JULZ) is 4.09%, while Amplify BlackSwan ISWN ETF (ISWN) has a volatility of 4.70%. This indicates that JULZ 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

	JULZ	ISWN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.09%	4.70%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	8.78%	10.86%	-2.08%
Volatility (1Y) Calculated over the trailing 1-year period	10.79%	12.76%	-1.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.29%	11.82%	+0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.36%	11.67%	+0.69%

JULZ vs. ISWN - Expense Ratio Comparison

JULZ has a 0.79% expense ratio, which is higher than ISWN's 0.49% expense ratio.

Dividends

JULZ vs. ISWN - Dividend Comparison

JULZ's dividend yield for the trailing twelve months is around 11.28%, more than ISWN's 2.83% yield.

Position	TTM	2025	2024	2023	2022	2021
ISWN Amplify BlackSwan ISWN ETF	2.83%	2.89%	3.27%	2.91%	2.00%	0.76%
JULZ Trueshares Structured Outcome (July) ETF	11.28%	11.96%	3.30%	3.59%	0.07%	0.00%

Frequently Asked Questions

Can I hold both JULZ and ISWN in my portfolio?

JULZ and ISWN have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JULZ or ISWN?

ISWN has higher volatility (4.70%) compared to JULZ (4.09%). In terms of maximum drawdown, JULZ dropped -14.71% vs ISWN's -32.35%.

Which ETF is better, JULZ or ISWN?

On 5-year performance, JULZ leads with 10.56% vs -0.26% for ISWN. On fees, ISWN is cheaper at 0.49% per year. On volatility, JULZ has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JULZ or ISWN?

Over the 5-year period, JULZ has performed better with a 10.56% return vs -0.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JULZ or ISWN?

ISWN is cheaper with a 0.49% expense ratio, compared with 0.79% for JULZ.

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

JULZ has the higher dividend yield at 11.28%, compared with 2.83% for ISWN.

What is the main difference between JULZ and ISWN?

JULZ tracks Cboe S&P 500 Buffer Protect Index July, while ISWN tracks S-Network International BlackSwan. They also come from different issuers: TrueShares and Amplify. Their fees differ too: 0.79% for JULZ and 0.49% for ISWN.

Which has better risk-adjusted returns?

JULZ currently has the higher Sharpe Ratio (1.69 vs 0.98), 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.