SWAN vs. QQQ

Last updated Jun 4, 2026

SWAN (Amplify BlackSwan Growth & Treasury Core ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - SWAN is a Diversified Portfolio fund tracking the S-Network BlackSwan Core Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 5 years, SWAN returned 3.38%/yr vs 17.97%/yr for QQQ. A 0.72 correlation means they provide meaningful diversification when combined. SWAN charges 0.49%/yr vs 0.18%/yr for QQQ.

Performance

SWAN vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify BlackSwan Growth & Treasury Core ETF (SWAN) and Invesco QQQ ETF (QQQ). 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 QQQ's 21.30% return.

SWAN

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

QQQ

• 1D: -0.26%
• 1M: 10.60%
• YTD: 21.30%
• 6M: 19.66%
• 1Y: 41.82%
• 3Y*: 28.78%
• 5Y*: 17.97%
• 10Y*: 21.94%

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

SWAN vs. QQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SWAN Amplify BlackSwan Growth & Treasury Core ETF	5.21%	13.93%	13.44%	12.07%	-27.77%	10.55%	16.17%	22.03%	-2.23%
QQQ Invesco QQQ ETF	21.30%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-9.13%

Correlation

The correlation between SWAN and QQQ is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Nov 7, 2018	0.72

The correlation between SWAN and QQQ has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.

SWAN vs. QQQ - Sectors Allocation Comparison

Sectors	SWAN	QQQ
Technology	35.6%	53.8%
Financial Services	11.8%	0.2%
Communication Services	11.2%	15.8%
Consumer Cyclical	10.1%	12.3%
Healthcare	8.5%	4.2%
Industrials	8.3%	2.8%
Consumer Defensive	4.9%	7.7%
Energy	3.5%	0.6%
Utilities	2.4%	1.4%
Real Estate	1.9%	0.1%
Basic Materials	1.8%	1.1%

Return for Risk

SWAN vs. QQQ — 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

QQQ

QQQ Risk / Return Rank: 73
QQQ Sharpe Ratio Rank: 79
QQQ Sortino Ratio Rank: 75
QQQ Omega Ratio Rank: 74
QQQ Calmar Ratio Rank: 69
QQQ Martin Ratio Rank: 71

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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify BlackSwan Growth & Treasury Core ETF (SWAN) and Invesco QQQ ETF (QQQ). 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	QQQ	Difference
Sharpe ratio Return per unit of total volatility	1.89	2.64	-0.75
Sortino ratio Return per unit of downside risk	2.71	3.45	-0.74
Omega ratio Gain probability vs. loss probability	1.34	1.45	-0.11
Calmar ratio Return relative to maximum drawdown	2.52	3.51	-0.99
Martin ratio Return relative to average drawdown	9.93	13.49	-3.57
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. QQQ - Sharpe Ratio Comparison

The current SWAN Sharpe Ratio is 1.89, which is comparable to the QQQ Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of SWAN and QQQ, 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	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	2.64	-0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.81	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.41	+0.17

Drawdowns

SWAN vs. QQQ - Drawdown Comparison

The maximum SWAN drawdown since its inception was -31.04%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for SWAN and QQQ.

Drawdown Indicators

	SWAN	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-31.04%	-82.97%	+51.93%
Max Drawdown (1Y) Largest decline over 1 year	-7.05%	-11.96%	+4.91%
Max Drawdown (3Y) Largest decline over 3 years	-12.07%	-22.77%	+10.70%
Max Drawdown (5Y) Largest decline over 5 years	-31.04%	-35.12%	+4.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.12%	—
Current Drawdown Current decline from peak	-0.61%	-0.26%	-0.35%
Average Drawdown Average peak-to-trough decline	-8.88%	-32.79%	+23.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	3.11%	-1.33%

Volatility

SWAN vs. QQQ - Volatility Comparison

The current volatility for Amplify BlackSwan Growth & Treasury Core ETF (SWAN) is 3.48%, while Invesco QQQ ETF (QQQ) has a volatility of 4.49%. This indicates that SWAN experiences smaller price fluctuations and is considered to be less risky than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWAN	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	4.49%	-1.01%
Volatility (6M) Calculated over the trailing 6-month period	7.28%	12.10%	-4.82%
Volatility (1Y) Calculated over the trailing 1-year period	9.39%	15.94%	-6.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.33%	22.38%	-11.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.47%	22.29%	-9.82%

SWAN vs. QQQ - Expense Ratio Comparison

SWAN has a 0.49% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

SWAN vs. QQQ - Dividend Comparison

SWAN's dividend yield for the trailing twelve months is around 2.79%, more than QQQ's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%
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%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SWAN and QQQ in my portfolio?

SWAN and QQQ have a correlation of 0.80, 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 QQQ?

QQQ has higher volatility (4.49%) compared to SWAN (3.48%). In terms of maximum drawdown, SWAN dropped -31.04% vs QQQ's -82.97%.

Which ETF is better, SWAN or QQQ?

On 5-year performance, QQQ leads with 17.97% vs 3.38% for SWAN. On fees, QQQ is cheaper at 0.18% 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 QQQ?

Over the 5-year period, QQQ has performed better with a 17.97% return vs 3.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SWAN or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.49% for SWAN.

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

SWAN has the higher dividend yield at 2.79%, compared with 0.38% for QQQ.

What is the main difference between SWAN and QQQ?

SWAN is categorized as Diversified Portfolio, while QQQ is Nasdaq-100. SWAN tracks S-Network BlackSwan Core Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: Amplify and Invesco. Their fees differ too: 0.49% for SWAN and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.64 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.