Ehhhh i don't like armlet on sven, sure you get more damage in theory but drums gives you a little more of everything specially mana which you really need, the move speed buff combined with your warcry also makes chasing down fools or escaping much easier.
Btw what's your build? i always maxed stun first and i used to max cleave second, i think maxing your warcry second is much better than cleave since the armor you get makes you even more tankier, you get 16 extra armor! Thats huge in early team fights.
I'm not the right person to ask for advice. but I think the best is 3/0/2 and then maybe get 1 in cleave before maxing out the stun then warcry. Maybe go 3/1/1 if you want to push the towers or farm jungle early.
I don't know if anybody else will agree but armlet is just really cost effective on Sven. 2700g and at lvl 11 gives you like +250 damage when activated under ulti?