Amplify BlackSwan Growth & Treasury Core ETF
SWAN
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- Amplify BlackSwan Growth & Treasury Core ETF (SWAN) is an exchange-traded fund that seeks to track the S-Network BlackSwan Core Index (SWANXT), providing uncapped exposure to the S&P 500 while buffering against significant downside losses through a strategic allocation of approximately 90% to U.S. Treasury securities with average maturities of around 10 years and 10% to long-dated, in-the-money call options (LEAPs and FLEX options) on the SPDR S&P 500 ETF (SPY); the index rebalances semi-annually to maintain these targets, aiming for risk-adjusted returns superior to the S&P 500 over full market cycles. The ETF's core holdings include U.S. Treasury notes across various coupons such as 4.25%, 3.38%, and 1.38%, alongside SPY call options expiring in dates like June 2026 and December 2025. Launched on November 6, 2018, and domiciled in the United States, SWAN trades on the NYSE Arca and targets investors seeking growth with downside protection, including as a core equity allocation, low-volatility complement to large-cap U.S. stocks, or low-correlated alternative asset. Amplify ETFs, the sponsor and issuer of SWAN through Amplify Investments LLC—a registered investment adviser headquartered in Lisle, Illinois, and founded in 2015—manages over $16.6 billion in assets across more than 30 actively managed and index-based ETFs focused on growth, income, and risk-managed strategies. The firm operates primarily in the U.S. market, serving financial advisors, institutional investors, and individual portfolios via transparent, efficient ETF structures powered by strategies from leading index providers. Amplify ETFs has expanded its lineup through innovations like the BlackSwan-branded products, with SWAN serving as the flagship offering in the hedged equity segment. In recent developments, Amplify ETFs completed the acquisition of ETF Managers Group (ETFMG) assets in early 2024, significantly boosting its assets under management to approximately $9.1 billion at the time and broadening its product suite across 31 ETFs. The firm continues to grow its BlackSwan offerings, building on SWAN's established track record—including strong performance during market downturns like 2020—while maintaining quarterly income distributions, such as the September 2025 ex-dividend payout of $0.233 per share. As of late 2025, SWAN maintains assets of around $377 million, a 0.49% expense ratio, and a dividend yield of approximately 2.75%, reflecting ongoing operational stability amid volatile equity markets.