SWAN vs. TLT
SWAN (Amplify BlackSwan Growth & Treasury Core ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - SWAN is a Diversified Portfolio fund tracking the S-Network BlackSwan Core Index, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 5 years, SWAN returned 3.72%/yr vs -5.98%/yr for TLT. At a 0.43 correlation, their price movements are largely independent. SWAN charges 0.49%/yr vs 0.15%/yr for TLT.
Performance
SWAN vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, SWAN achieves a 5.86% return, which is significantly higher than TLT's 0.13% return.
SWAN
- 1D
- 0.18%
- 1M
- 3.38%
- YTD
- 5.86%
- 6M
- 5.47%
- 1Y
- 18.85%
- 3Y*
- 13.09%
- 5Y*
- 3.72%
- 10Y*
- —
TLT
- 1D
- 0.21%
- 1M
- 0.44%
- YTD
- 0.13%
- 6M
- -1.35%
- 1Y
- 5.16%
- 3Y*
- -1.67%
- 5Y*
- -5.98%
- 10Y*
- -1.62%
SWAN vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SWAN Amplify BlackSwan Growth & Treasury Core ETF | 5.86% | 13.93% | 13.44% | 12.07% | -27.77% | 10.55% | 16.17% | 22.03% | -2.23% |
TLT iShares 20+ Year Treasury Bond ETF | 0.13% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | 8.64% |
Correlation
The correlation between SWAN and TLT is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2018 | 0.43 |
The correlation between SWAN and TLT shifts across timeframes, from 0.43 (all time) to 0.56 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SWAN vs. TLT — Risk / Return Rank
SWAN
TLT
SWAN vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amplify BlackSwan Growth & Treasury Core ETF (SWAN) and iShares 20+ Year Treasury Bond ETF (TLT). 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 | TLT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.02 | 0.53 | +1.49 |
Sortino ratioReturn per unit of downside risk | 2.89 | 0.83 | +2.05 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.09 | +0.27 |
Calmar ratioReturn relative to maximum drawdown | 2.66 | 0.55 | +2.11 |
Martin ratioReturn relative to average drawdown | 10.51 | 1.38 | +9.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SWAN | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.02 | 0.53 | +1.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | -0.38 | +0.71 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | -0.11 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.26 | +0.33 |
Drawdowns
SWAN vs. TLT - Drawdown Comparison
The maximum SWAN drawdown since its inception was -31.04%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for SWAN and TLT.
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Drawdown Indicators
| SWAN | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.04% | -48.35% | +17.31% |
Max Drawdown (1Y)Largest decline over 1 year | -7.05% | -7.58% | +0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -12.07% | -19.18% | +7.11% |
Max Drawdown (5Y)Largest decline over 5 years | -31.04% | -43.70% | +12.66% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.35% | — |
Current DrawdownCurrent decline from peak | 0.00% | -40.20% | +40.20% |
Average DrawdownAverage peak-to-trough decline | -8.89% | -13.81% | +4.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.78% | 3.02% | -1.24% |
Volatility
SWAN vs. TLT - Volatility Comparison
Amplify BlackSwan Growth & Treasury Core ETF (SWAN) has a higher volatility of 3.57% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.84%. This indicates that SWAN's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SWAN | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 2.84% | +0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 7.31% | 6.60% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.36% | 9.81% | -0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.33% | 15.87% | -4.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.47% | 14.91% | -2.44% |
SWAN vs. TLT - Expense Ratio Comparison
SWAN has a 0.49% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
SWAN vs. TLT - Dividend Comparison
SWAN's dividend yield for the trailing twelve months is around 2.77%, less than TLT's 4.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWAN Amplify BlackSwan Growth & Treasury Core ETF | 2.77% | 2.86% | 2.54% | 2.98% | 2.12% | 5.04% | 1.64% | 3.69% | 0.29% | 0.00% | 0.00% | 0.00% |
TLT iShares 20+ Year Treasury Bond ETF | 4.57% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
SWAN and TLT have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SWAN has higher volatility (3.57%) compared to TLT (2.84%). In terms of maximum drawdown, SWAN dropped -31.04% vs TLT's -48.35%.
On 5-year performance, SWAN leads with 3.72% vs -5.98% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SWAN has performed better with a 3.72% return vs -5.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 0.49% for SWAN.
TLT has the higher dividend yield at 4.57%, compared with 2.77% for SWAN.
SWAN is categorized as Diversified Portfolio, while TLT is Government Bonds. SWAN tracks S-Network BlackSwan Core Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. They also come from different issuers: Amplify and iShares. Their fees differ too: 0.49% for SWAN and 0.15% for TLT.
SWAN currently has the higher Sharpe Ratio (2.02 vs 0.53), 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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