SWAN vs. CVY
SWAN (Amplify BlackSwan Growth & Treasury Core ETF) and CVY (Invesco Zacks Multi-Asset Income ETF) are both Diversified Portfolio funds - SWAN tracks the S-Network BlackSwan Core Index while CVY tracks the Zacks Multi-Asset Income Index. Both are passively managed. Over the past 5 years, SWAN returned 2.02%/yr vs 9.27%/yr for CVY. Their 0.47 correlation means their historical movements had little consistent relationship. SWAN charges 0.49%/yr vs 1.21%/yr for CVY.
Performance
SWAN vs. CVY - Performance Comparison
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Returns By Period
In the year-to-date period, SWAN achieves a 2.62% return, which is significantly lower than CVY's 15.51% return.
SWAN
- 1D
- 0.01%
- 1M
- -1.30%
- 6M
- 2.43%
- YTD
- 2.62%
- 1Y
- 9.98%
- 3Y*
- 11.32%
- 5Y*
- 2.02%
- 10Y*
- —
- ALL TIME*
- 6.65%
CVY
- 1D
- -0.27%
- 1M
- 3.22%
- 6M
- 10.58%
- YTD
- 15.51%
- 1Y
- 22.82%
- 3Y*
- 14.62%
- 5Y*
- 9.27%
- 10Y*
- 8.99%
- ALL TIME*
- 6.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $104.32K | $103.88K | $109.40K | |
| $317.13K | $268.94K | $360.70K |
SWAN vs. CVY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SWAN Amplify BlackSwan Growth & Treasury Core ETF | 2.62% | 13.93% | 13.44% | 12.07% | -27.77% | 10.55% | 16.17% | 22.03% | -2.27% |
CVY Invesco Zacks Multi-Asset Income ETF | 15.51% | 11.00% | 10.28% | 17.87% | -9.27% | 25.31% | -10.56% | 25.97% | -8.45% |
Correlation
The correlation between SWAN and CVY is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.53 |
Correlation (3Y) Balances recent behavior with more history. | 0.52 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2018 | 0.47 |
The correlation between SWAN and CVY has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.
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Return for Risk
SWAN vs. CVY — Risk / Return Rank
SWAN
CVY
SWAN vs. CVY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amplify BlackSwan Growth & Treasury Core ETF (SWAN) and Invesco Zacks Multi-Asset Income ETF (CVY). 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.
| SWAN | CVY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.35 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | 2.92 | -1.51 |
| Martin ratioReturn relative to average drawdown | 5.00 | 10.01 | -5.01 |
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Drawdowns
SWAN vs. CVY - Drawdown Comparison
The maximum SWAN drawdown since its inception was -31.04%, smaller than the maximum CVY drawdown of -66.86%. Use the drawdown chart below to compare losses from any high point for SWAN and CVY.
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Drawdown Indicators
| SWAN | CVY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.04% | -66.86% | +35.82% |
Max Drawdown (1Y)Largest decline over 1 year | -7.05% | -7.43% | +0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -10.19% | -16.79% | +6.60% |
Max Drawdown (5Y)Largest decline over 5 years | -31.04% | -21.58% | -9.46% |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.47% | — |
Current DrawdownCurrent decline from peak | -3.06% | -0.97% | -2.09% |
Average DrawdownAverage peak-to-trough decline | -8.74% | -10.33% | +1.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 2.16% | -0.18% |
Volatility
SWAN vs. CVY - Volatility Comparison
Amplify BlackSwan Growth & Treasury Core ETF (SWAN) and Invesco Zacks Multi-Asset Income ETF (CVY) have volatilities of 2.85% and 3.00%, 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.
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Volatility by Period
| SWAN | CVY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.85% | 3.00% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 8.17% | 7.79% | +0.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.11% | 10.82% | -0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.47% | 16.06% | -4.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.45% | 19.46% | -7.01% |
SWAN vs. CVY - Expense Ratio Comparison
SWAN has a 0.49% expense ratio, which is lower than CVY's 1.21% expense ratio.
Dividends
SWAN vs. CVY - Dividend Comparison
SWAN's dividend yield for the trailing twelve months is around 3.25%, less than CVY's 4.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVY Invesco Zacks Multi-Asset Income ETF | 4.11% | 3.99% | 4.07% | 4.41% | 5.18% | 2.37% | 3.40% | 3.22% | 4.44% | 3.94% | 4.50% | 5.89% |
SWAN Amplify BlackSwan Growth & Treasury Core ETF | 3.25% | 2.86% | 2.54% | 2.98% | 2.12% | 5.04% | 1.64% | 3.69% | 0.29% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SWAN and CVY have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVY has higher volatility (3.00%) compared to SWAN (2.85%). In terms of maximum drawdown, SWAN dropped -31.04% vs CVY's -66.86%.
On 5-year performance, CVY leads with 9.27% vs 2.02% for SWAN. On fees, SWAN is cheaper at 0.49% per year. On volatility, SWAN has been the lower-risk option at 2.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CVY has performed better with a 9.27% return vs 2.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SWAN is cheaper with a 0.49% expense ratio, compared with 1.21% for CVY.
CVY has the higher dividend yield at 4.11%, compared with 3.25% for SWAN.
SWAN tracks S-Network BlackSwan Core Index, while CVY tracks Zacks Multi-Asset Income Index. They also come from different issuers: Amplify and Invesco. Their fees differ too: 0.49% for SWAN and 1.21% for CVY.
CVY currently has the higher Sharpe Ratio (2.01 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.
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