Fund Details
| Ticker | BAGY |
| Launch Date | 04/29/2025 |
| Primary Exchange | CBOE BZX |
| CUSIP | 032108466 |
| Net Assets | TBD |
| Shares Outstanding | |
| # of Holdings (view all holdings) | TBD |
| Total Expense Ratio: | 0.65% |
Index Details
| Index Name | Bloomberg U.S. Treasury 20+ Year 12% Premium Covered Call 2.0 Index |
| Index Ticker | BTSICTTT |
| Rebalance Frequency | Weekly Options Roll |
| Index Website | Bloomberg.com |
Why Invest in BAGY ETF?
- Max Income Focus: BAGY seeks 30-60% annualized option premium1 and Bitcoin price exposure of approximately 5% price appreciation each week.
- 4x More Options: BAGY uses weekly call options seeking to collect premiums 4x more often than monthly options, enabling the potential for compounded income and enhanced Bitcoin price returns.
- Harvest Volatility: When Bitcoin price volatility rises, BAGY's option income potential increases, using volatility to help enhance premium income and total returns.
Objective and Strategy
The Amplify Bitcoin Max Income Covered Call ETF (BAGY) seeks to maximize current income through a covered call strategy tied to the investment exposure to the price return of Bitcoin. BAGY seeks 30-60% annualized option premium, while also offering upside potential, by leveraging weekly options-writing techniques to harness volatility associated with the price of Bitcoin, transforming it into valuable income opportunities.
Bitcoin ETPs are exchange-traded investment products not registered under the 1940 Act that seek to generally match the performance of the price of bitcoin, and trade intra-day on a national securities exchange. The Fund does not invest directly in Bitcoin.
Yield
| Distribution Frequency | Monthly | 30-Day SEC Yield** | N/A | |
| Distribution Rate* | N/A | |||
* Distribution Rate is the normalized current distribution (annualized) over NAV per share. In addition to net interest income, distribution on XX/XX/XXXX included an estimated return of capital of XX%. See Form 19a-1.
** 30-Day SEC Yield is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among bond funds. It is based on the most recent month end. This figure reflects the income earned from dividends – excluding option income – during the period after deducting the Fund’s expenses for the period.
NAV and Market Price
| Previous Day's NAV | Previous Day's Market Price | |||
|---|---|---|---|---|
| Net Asset Value | N/A | Closing Price | N/A | |
| Daily Change | N/A | Daily Change | N/A | |
| % Daily Change | N/A | % Daily Change | N/A | |
| 30-Day Median Bid/Ask Spread | N/A | Premium/Discount % | N/A | |
| Premium Discount History | ||||
Daily Price/NAV Performance
Fund Holdings
| TOP STRATEGIC HOLDINGS | |||
|---|---|---|---|
Fund holdings are subject to change at any time and should not be considered recommendations to buy or sell any security.
BAGY Weekly Covered Call Construction
Buy
Buy long Bitcoin exposure through Bitcoin ETPs and options.
Seeks 30-60% Annual Premium Income
Write
Sell weekly calls on all of the portfolio, 5% OTM2, to maximize income and still provide 5% Bitcoin upside potential weekly.
Roll
On a weekly basis replace expiring covered call option with the new one (roll) to help generate ongoing option premiums.
Distribute
BAGY seeks to pay monthly distributions that include targeted option income premiums.
There is no guarantee that distributions will be made.
Weekly Call Options Differentiators
Weekly call options may offer several benefits, including accessing weekly premium income, potential to capitalize on short-term market movements, increased flexibility, and improving risk management opportunities:
Weekly Premium Income: Weekly call options enable more frequent premium collection, potentially increasing overall premium income through compounding. This can be especially effective in generating consistent income.
Capturing Short-Term Price Movements: Weekly options are better suited for capturing short-term price movements and volatility. Our portfolio managers can capitalize on these opportunities more often than with less frequent options.
Flexibility and Adjustment Ability: Weekly options provide our portfolio managers with enhanced flexibility to adjust position size and strike prices based on market movements. This is particularly useful in volatile markets where conditions change rapidly.
Risk Management: Using weekly options may reduce the risk of missing upside versus longer expiration options. Likewise, since the options expire more frequently, the risk of a significant adverse movement in the underlying asset may be reduced.
Sector Allocation
Market Capitalization
| LARGE CAP (> $10B): | N/A |
| MID CAP ($2B - $10B): | N/A |
| SMALL CAP ($300M - < $2B): | N/A |
| MICRO CAP (<$300M): |
Fund holdings are subject to change at any time and should not be considered recommendations to buy or sell any security.
Performance
| CUMULATIVE (%) | ANNUALIZED (%) | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 Mo. | 3 Mo. | 6 Mo. | YTD | Since Inception | 1 Yr. | Since Inception | |||
| Month end as of TBD | |||||||||
| NAV | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||
| Closing Price | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||
| Quarter end as of TBD | |||||||||
| NAV | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||
| Closing Price | N/A | N/A | N/A | N/A | N/A | N/A | N/A | ||
Fund inception date: 04/28/2025. The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. Brokerage commissions will reduce returns. NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The closing price is the last price at which the fund traded.
Premium/Discount
The table and line graph are provided to show the frequency at which the closing price of the Fund was at a premium (above) or discount (below) to the Fund's daily net asset value ("NAV"). The table and line graph represent past performance and cannot be used to predict future results. Shareholders may pay more than NAV when buying Fund shares and receive less than an NAV when those shares are sold because shares are bought and sold at current market prices.
This is your Counts mockup
| Calendar Year | Calendar Year through | |
|---|---|---|
| Days traded at premium | 0 | 0 |
| Days traded at net asset value | 0 | 0 |
| Days traded at discount | 0 | 0 |
There is no guarantee that distributions will be made.
1An option premium is the cost an option buyer pays to the seller for the right to trade an asset at a set price within a certain period.
2Out of the money (OTM) options has a strike price that the underlying security has yet to reach.
Investing involves risk and possible loss of principal. There is no guarantee the investment strategy will be successful. The Fund is considered to be non-diversified. The Fund is actively managed and its performance reflects the investment decisions that the Adviser makes for the Fund.
The Fund faces risks by investing in Bitcoin through the Bitcoin ETP and Bitcoin ETP Options, as bitcoin is a new and highly speculative investment. The market for Bitcoin is volatile and subject to rapid changes, regulatory actions, and numerous challenges to widespread adoption. Issues such as slow transaction processing, variable fees, and price volatility further increase these risks.
There is a lack of consensus regarding the regulation of digital assets, including Bitcoin, and their markets. Trading in shares of a Bitcoin ETP on U.S. securities exchanges may be halted due to market conditions or for reasons that, in the view of an exchange, make trading in shares of the Bitcoin ETP inadvisable.
Writing covered call options on the Bitcoin ETP might result in missed gains if the security’s value exceeds the strike price plus premium, and expose the Fund to losses if the security’s price falls.
Option contract prices are volatile and affected by changes in the underlying asset’s value, interest or currency rates, and expected volatility, all of which are influenced by political, fiscal, and monetary policies.
The Fund may use FLEX Options, which can be less liquid than standardized options. This may make it difficult to close out FLEX Options positions at desired times and prices.
With covered call risk, the Fund might miss out on profits if the security’s value rises above the option’s premium and strike price while still facing potential losses if the value declines.
With covered put risk, significant stock price increases can lead to substantial losses on your short position. The premium provides some income but may not fully offset the loss if the stock rallies unexpectedly.
Investment Adviser: Amplify Investments LLC; Sub-Advisers: Kelly Strategic Management, LLC and Penserra Capital Management LLC.
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