SWAN vs. CLSM

Last updated Jun 4, 2026

SWAN (Amplify BlackSwan Growth & Treasury Core ETF) and CLSM (Cabana Target Leading Sector Moderate ETF) are both exchange-traded funds - SWAN is a Diversified Portfolio fund tracking the S-Network BlackSwan Core Index, while CLSM is a Tactical Allocation fund tracking the Actively Managed. Both are passively managed. Over the past 3 years, SWAN returned 12.85%/yr vs 13.75%/yr for CLSM. A 0.69 correlation means they provide meaningful diversification when combined. SWAN charges 0.49%/yr vs 0.82%/yr for CLSM.

Performance

SWAN vs. CLSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify BlackSwan Growth & Treasury Core ETF (SWAN) and Cabana Target Leading Sector Moderate ETF (CLSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWAN achieves a 5.21% return, which is significantly lower than CLSM's 20.45% return.

SWAN

• 1D: -0.61%
• 1M: 3.71%
• YTD: 5.21%
• 6M: 4.34%
• 1Y: 17.67%
• 3Y*: 12.85%
• 5Y*: 3.38%
• 10Y*: —

CLSM

• 1D: -0.38%
• 1M: 9.23%
• YTD: 20.45%
• 6M: 20.19%
• 1Y: 34.21%
• 3Y*: 13.75%
• 5Y*: —
• 10Y*: —

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

SWAN vs. CLSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SWAN Amplify BlackSwan Growth & Treasury Core ETF	5.21%	13.93%	13.44%	12.07%	-27.77%	4.36%
CLSM Cabana Target Leading Sector Moderate ETF	20.45%	15.32%	1.87%	3.78%	-23.23%	9.10%

Correlation

The correlation between SWAN and CLSM is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Jul 14, 2021	0.69

The correlation between SWAN and CLSM shifts across timeframes, from 0.69 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.

SWAN vs. CLSM - Sectors Allocation Comparison

Sectors	SWAN	CLSM
Technology	35.6%	51.8%
Financial Services	11.8%	0.1%
Communication Services	11.2%	5.5%
Consumer Cyclical	10.1%	4.4%
Healthcare	8.5%	1.4%
Industrials	8.3%	1.0%
Consumer Defensive	4.9%	34.8%
Energy	3.5%	0.2%
Utilities	2.4%	0.5%
Real Estate	1.9%	0.0%
Basic Materials	1.8%	0.4%

Return for Risk

SWAN vs. CLSM — Risk / Return Rank

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

SWAN

SWAN Risk / Return Rank: 54
SWAN Sharpe Ratio Rank: 55
SWAN Sortino Ratio Rank: 56
SWAN Omega Ratio Rank: 54
SWAN Calmar Ratio Rank: 50
SWAN Martin Ratio Rank: 56

CLSM

CLSM Risk / Return Rank: 82
CLSM Sharpe Ratio Rank: 83
CLSM Sortino Ratio Rank: 80
CLSM Omega Ratio Rank: 83
CLSM Calmar Ratio Rank: 80
CLSM Martin Ratio Rank: 83

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.

SWAN vs. CLSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify BlackSwan Growth & Treasury Core ETF (SWAN) and Cabana Target Leading Sector Moderate ETF (CLSM). 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.

	SWAN	CLSM	Difference
Sharpe ratio: Return per unit of total volatility	1.89	2.71	-0.81
Sortino ratio: Return per unit of downside risk	2.71	3.58	-0.87
Omega ratio: Gain probability vs. loss probability	1.34	1.50	-0.16
Calmar ratio: Return relative to maximum drawdown	2.52	4.04	-1.53
Martin ratio: Return relative to average drawdown	9.93	16.72	-6.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWAN vs. CLSM - Sharpe Ratio Comparison

The current SWAN Sharpe Ratio is 1.89, which is lower than the CLSM Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of SWAN and CLSM, 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

	SWAN	CLSM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	2.71	-0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.35	+0.23

Drawdowns

SWAN vs. CLSM - Drawdown Comparison

The maximum SWAN drawdown since its inception was -31.04%, which is greater than CLSM's maximum drawdown of -27.77%. Use the drawdown chart below to compare losses from any high point for SWAN and CLSM.

Drawdown Indicators

	SWAN	CLSM	Difference
Max Drawdown Largest peak-to-trough decline	-31.04%	-27.77%	-3.27%
Max Drawdown (1Y) Largest decline over 1 year	-7.05%	-8.50%	+1.45%
Max Drawdown (3Y) Largest decline over 3 years	-12.07%	-14.60%	+2.53%
Max Drawdown (5Y) Largest decline over 5 years	-31.04%	—	—
Current Drawdown Current decline from peak	-0.61%	-0.38%	-0.23%
Average Drawdown Average peak-to-trough decline	-8.88%	-16.49%	+7.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	2.05%	-0.27%

Volatility

SWAN vs. CLSM - Volatility Comparison

Amplify BlackSwan Growth & Treasury Core ETF (SWAN) and Cabana Target Leading Sector Moderate ETF (CLSM) have volatilities of 3.48% and 3.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWAN	CLSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	3.58%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	7.28%	10.54%	-3.26%
Volatility (1Y) Calculated over the trailing 1-year period	9.39%	12.70%	-3.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.33%	12.47%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.47%	12.47%	0.00%

SWAN vs. CLSM - Expense Ratio Comparison

SWAN has a 0.49% expense ratio, which is lower than CLSM's 0.82% expense ratio.

Dividends

SWAN vs. CLSM - Dividend Comparison

SWAN's dividend yield for the trailing twelve months is around 2.79%, more than CLSM's 0.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CLSM Cabana Target Leading Sector Moderate ETF	0.75%	0.90%	2.13%	2.58%	3.17%	0.59%	0.00%	0.00%	0.00%
SWAN Amplify BlackSwan Growth & Treasury Core ETF	2.79%	2.86%	2.54%	2.98%	2.12%	5.04%	1.64%	3.69%	0.29%

Frequently Asked Questions

Can I hold both SWAN and CLSM in my portfolio?

SWAN and CLSM have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWAN or CLSM?

CLSM has higher volatility (3.58%) compared to SWAN (3.48%). In terms of maximum drawdown, SWAN dropped -31.04% vs CLSM's -27.77%.

Which ETF is better, SWAN or CLSM?

On 3-year performance, CLSM leads with 13.75% vs 12.85% for SWAN. On fees, SWAN is cheaper at 0.49% per year. On volatility, SWAN has been the lower-risk option at 3.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SWAN or CLSM?

Over the 3-year period, CLSM has performed better with a 13.75% return vs 12.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SWAN or CLSM?

SWAN is cheaper with a 0.49% expense ratio, compared with 0.82% for CLSM.

Which ETF pays a higher dividend yield, SWAN or CLSM?

SWAN has the higher dividend yield at 2.79%, compared with 0.75% for CLSM.

What is the main difference between SWAN and CLSM?

SWAN is categorized as Diversified Portfolio, while CLSM is Tactical Allocation. SWAN tracks S-Network BlackSwan Core Index, while CLSM tracks Actively Managed. They also come from different issuers: Amplify and Cabana. Their fees differ too: 0.49% for SWAN and 0.82% for CLSM.

Which has better risk-adjusted returns?

CLSM currently has the higher Sharpe Ratio (2.71 vs 1.89), 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.