SWAN vs. CTAP

Last updated Jun 4, 2026

SWAN (Amplify BlackSwan Growth & Treasury Core ETF) and CTAP (Simplify US Equity PLUS Managed Futures Strategy ETF) are both Diversified Portfolio funds. SWAN is passively managed, while CTAP is actively managed. At a 0.19 correlation, their price movements are largely independent. SWAN charges 0.49%/yr vs 0.10%/yr for CTAP.

Performance

SWAN vs. CTAP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify BlackSwan Growth & Treasury Core ETF (SWAN) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP). 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 CTAP's 21.95% return.

SWAN

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

CTAP

• 1D: -0.32%
• 1M: -3.24%
• YTD: 21.95%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SWAN vs. CTAP - Yearly Performance Comparison

	2026 (YTD)	2025
SWAN Amplify BlackSwan Growth & Treasury Core ETF	5.21%	0.16%
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	21.95%	2.44%

Correlation

The correlation between SWAN and CTAP is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.19

SWAN vs. CTAP - Sectors Allocation Comparison

Sectors	SWAN	CTAP
Technology	35.6%	-
Financial Services	11.8%	49.3%
Communication Services	11.2%	-
Consumer Cyclical	10.1%	-
Healthcare	8.5%	-
Industrials	8.3%	-
Consumer Defensive	4.9%	-
Energy	3.5%	-
Utilities	2.4%	-
Real Estate	1.9%	-
Basic Materials	1.8%	-

Return for Risk

SWAN vs. CTAP — 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

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. CTAP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify BlackSwan Growth & Treasury Core ETF (SWAN) and Simplify US Equity PLUS Managed Futures Strategy ETF (CTAP). 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	CTAP	Difference
Sharpe ratio Return per unit of total volatility	1.89	—	—
Sortino ratio Return per unit of downside risk	2.71	—	—
Omega ratio Gain probability vs. loss probability	1.34	—	—
Calmar ratio Return relative to maximum drawdown	2.52	—	—
Martin ratio Return relative to average drawdown	9.93	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SWAN	CTAP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	—	—
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	2.50	-1.92

Drawdowns

SWAN vs. CTAP - Drawdown Comparison

The maximum SWAN drawdown since its inception was -31.04%, which is greater than CTAP's maximum drawdown of -9.02%. Use the drawdown chart below to compare losses from any high point for SWAN and CTAP.

Drawdown Indicators

	SWAN	CTAP	Difference
Max Drawdown Largest peak-to-trough decline	-31.04%	-9.02%	-22.02%
Max Drawdown (1Y) Largest decline over 1 year	-7.05%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.07%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.04%	—	—
Current Drawdown Current decline from peak	-0.61%	-4.47%	+3.86%
Average Drawdown Average peak-to-trough decline	-8.88%	-2.18%	-6.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	—	—

Volatility

Volatility by Period

	SWAN	CTAP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.28%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.39%	23.94%	-14.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.33%	23.94%	-12.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.47%	23.94%	-11.47%

SWAN vs. CTAP - Expense Ratio Comparison

SWAN has a 0.49% expense ratio, which is higher than CTAP's 0.10% expense ratio.

Dividends

SWAN vs. CTAP - Dividend Comparison

SWAN's dividend yield for the trailing twelve months is around 2.79%, more than CTAP's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CTAP Simplify US Equity PLUS Managed Futures Strategy ETF	0.65%	0.00%	0.00%	0.00%	0.00%	0.00%	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 CTAP in my portfolio?

SWAN and CTAP have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SWAN or CTAP?

On fees, CTAP is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SWAN or CTAP?

CTAP is cheaper with a 0.10% expense ratio, compared with 0.49% for SWAN.

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

SWAN has the higher dividend yield at 2.79%, compared with 0.65% for CTAP.

What is the main difference between SWAN and CTAP?

They also come from different issuers: Amplify and Simplify. Their fees differ too: 0.49% for SWAN and 0.10% for CTAP.