ETF Evaluator:
Amplify BlackSwan Gr & Trsry Cor ETF ()
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(as of Aug 26)
Best Performing in Equity Hedged Over the Last Year
| 39.1% | Defiance Oil Enhanced Options Income ETF (USOY) |
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| 26.2% | Innovator U.S. Small Cp Mgd Flr ETF (RFLR) |
| 23.7% | Rareview Systematic Equity ETF (RSEE) |
| 20.9% | Hull Tactical US ETF (HTUS) |
Risk
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Risk
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ETF Details
Amplify BlackSwan Gr & Trsry Cor ETF Overview
Amplify BlackSwan Gr & Trsry Cor ETF (SWAN) is a passively managed Nontraditional Equity Equity Hedged exchange-traded fund (ETF). Amplify ETFs launched the ETF in 2018.
The investment seeks results that generally correspond (before fees and expenses) to the price and yield of the S-Network BlackSwan Core Index (the "index").
The fund will invest at least 80% of its net assets in the securities that comprise the index, which will primarily include U.S. Treasury securities and long-dated call options ("LEAP Options") on the SPDR S&P 500 ETF Trust ("SPY"). The index is a rules-based, quantitative index that seeks to provide capital protection against the unpredictable, rare and highly disruptive events that have come to be referred to as "Black Swans."
About Amplify BlackSwan Gr & Trsry Cor ETF (SWAN)
There are 5 members of the management team with an average tenure of 7.74 years: Michael Venuto (2018), Charles Ragauss (2018), Dan Cupkovic (2018), Indu Chhachhi (2018) and Matt Westfall (2018). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and S-Network BlackSwan Core TR USD index with a weighting of 100%. Amplify BlackSwan Gr & Trsry Cor ETF has 15 securities in its portfolio. The top 10 holdings constitute 91.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Amplify BlackSwan Gr & Trsry Cor ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. Amplify BlackSwan Gr & Trsry Cor ETF has 0.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 21.0% There is 0.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 87.5% (87.5% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Amplify BlackSwan Gr & Trsry Cor ETF has -9.2% of the portfolio in cash.
Assets Under Management
The fund has $156 million in total assets, which is below the $294 million average for the Equity Hedged category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SWAN Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Amplify BlackSwan Gr & Trsry Cor ETF expense ratio is average compared to funds in the Equity Hedged category. Amplify BlackSwan Gr & Trsry Cor ETF has an expense ratio of 0.49%, which is 36% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Amplify BlackSwan Gr & Trsry Cor ETF has a portfolio turnover rate of 43%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 97% for the Equity Hedged category.
Recently, in the month of July 2026, Amplify BlackSwan Gr & Trsry Cor ETF returned -1.9%, which earned it a grade of D, as the Equity Hedged category had an average return of -1.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Amplify BlackSwan Gr & Trsry Cor ETF has a trailing yield of 3.25%, which is below the 3.45% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Amplify BlackSwan Gr & Trsry Cor ETF Grades
Year to date, the ETF has returned 2.7%, 4.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 9.7% over the past year (grade of D), 11.0% over the past three years (grade of D) and 2.0% per year over the past five years (grade of F).
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SWAN Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SWAN Return (NAV) | -1.9% | 0.4% | 9.7% | 11.0% | 2.0% | na |
| SWAN Return (Price) | -2.0% | 0.5% | 9.9% | 11.1% | 2.0% | na |
| NAV +/- Price Return | 0.037% | -0.078% | -0.163% | -0.113% | -0.043% | na |
| Equity Hedged Avg | -1.4% | 1.7% | 13.6% | 12.0% | 6.6% | 7.6% |
| SWAN Grade (NAV) | D | F | D | D | F | na |
| +/- Category (NAV) | -0.5% | -1.3% | -3.8% | -1.0% | -4.6% | na |
| SWAN Tax-Cost Ratio | na | na | 1.3% | 1.2% | 1.3% | na |
SWAN Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SWAN Return (NAV) | 2.7% | 13.7% | 13.4% | 11.8% | -27.4% | 10.3% | 16.6% | 22.3% | na | na | na |
| SWAN Return (Price) | 2.6% | 13.9% | 13.4% | 12.1% | -27.8% | 10.6% | 16.2% | 22.0% | na | na | na |
| NAV +/- Price Ret | -0.016% | 0.015% | 0.004% | 0.023% | 0.015% | 0.022% | -0.027% | -0.9% | na | na | na |
| Equity Hedged Avg | 7.1% | 12.6% | 14.6% | 14.8% | -12.9% | 15.6% | 10.2% | 9.9% | -6.3% | 12.2% | 3.0% |
| SWAN Grade (NAV) | F | C | D | D | F | D | B | A | na | na | na |
| +/- Category | -4.5% | 1.1% | -1.2% | -3.0% | -14.5% | -5.2% | 6.5% | 12.4% | na | na | na |
| Risk Measures | |
| Beta: | 0.87 |
| R-Squared: | 84% |
| Standard Deviation: | 12.4% |
| Category Risk Index: | 1.17 |
| Category Risk Rating: | Above Average |
| Total Risk Index: | 1.01 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 3.3% |
| Total Assets: | $ 157 Mil |
| Share Class Assets: | $ 157 Mil |
| Turnover: | 43.0% |
| Expense Ratio: | 0.49% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 7.7 years | |||
| Average Tenure: 7.7 years | |||
| Managers (Year): Venuto Michael (2018), Ragauss Charles (2018), Cupkovic Dan (2018), Chhachhi Indu (2018), Westfall Matt (2018) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 15 |
| % in Top 10 Holdings: | 91.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.1% |
Portfolio Allocation |
|
| Domestic Stock: | 21.0% |
| Foreign Stock: | 0.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 87.5% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.7% |
| Cash: | -9.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Amplify ETFs |
| Phone Number: | 855-267-3837 |
| Website: | |
| Inception Date: | November 5, 2018 |
Expenses and Fees
| Expense Ratio (%): | 0.49% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.76% |
