Fund Details
| Ticker | COWS |
| Inception | 9/13/2023 |
| Primary Exchange | Nasdaq |
| CUSIP | 032108698 |
| Net Assets | N/A |
| Shares Outstanding | |
| # of Holdings | N/A |
Fees & Expense
| Management Fee | 0.39% |
| Other Expenses1 | 0.00% |
| Total Annual Fund Operating Expenses | 0.39% |
| Expense Waiver/Reimbursement2 | (0.39%) |
| Net Expense Ratio | 0.00% |
Index Details
| Index Name | Kelly US Cash Flow Dividend Leaders Index |
| Index Provider | Kelly Indexes, LLC |
| Index Ticker | COWSETF |
| Weighting | Modified Market Cap |
| Rebalance Frequency | Quarterly |
| Index Website | kellyintel.com/cows |
1 Estimate based on the expenses the Fund expects to incur for the current fiscal year.
2 The Fund's investment adviser has agreed to waive the management fees for the Fund until at least September 11, 2024.
Three Reasons to Own COWS:
- High Free Cash Flow Meets Dividend Growth: Strategy is focused on high free cash flow companies that pay and have historically grown dividends.
- Dividend Growth & Sustainability Focus: Strategy seeks dividend paying companies with a history of dividend growth while excluding companies with payout ratios above 75%.
- Diversification & Risk control: Strategy seeks an equal weight portfolio with an industry exposure cap of 24% to both diversify and limit company and industry-specific risks.
Payout ratio is forward-looking and calculated by dividing the forward 12-month indicated dividend by the forward 12-month consensus earnings per share forecast.
Objective and Strategy
COWS is a strategy driven ETF investing in companies with high free cash flow yield and dividend growth aimed to provide long-term capital appreciation and monthly income distributions. COWS seeks investment results that correspond generally to the Kelly US Cash Flow Dividend Leaders Index.
Free cash flow is the remaining cash a company has after covering all expenses.
High free cash flow is one way to indicate the financial stability of a company.
Yield
| Distribution Frequency | Monthly | 30-Day SEC Yield** | N/A | |
| Distribution Rate* | N/A | |||
* Distribution Rate is the annual yield an investor would receive if the most recent distribution remained the same going forward. The yield represents a single distribution from the fund and does not represent total return to the fund. The distribution yield is calculated by annualizing the most recent distribution – from both dividend and option income – and dividing it by the most recent NAV. Distributions have included a return of capital. Please click here for more information.
** 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 10 HOLDINGS | |||
|---|---|---|---|
Fund holdings are subject to change at any time and should not be considered recommendations to buy or sell any security.
COWS Selection Methodology
The Syntax US 1000 Index is a broad-based US equity index that tracks the top 1000 companies within the Syntax US 3000 Index, excluding companies in the financials sector as determined by Syntax LLC.
High Free Cash Flow & Dividend Growth
Past performance is not a guarantee of future results. Index performance is not representative of fund performance. Source: Amplify ETFs and Syntax LLC. Yield on 8/31/2023. Trailing free cash flow yield is an indicator that compares free cash flow and market cap. Trailing 12 month dividend yield includes all dividends paid during the past year in order to calculate the dividend yield.
Index Sector Allocation
Index Market Capitalization
| LARGE CAP (> $10B): | N/A |
| MID CAP ($2B - $10B): | N/A |
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 (9/13/23) |
1 Yr. | Since Inception (9/13/23) |
|
| Month end as of TBD | |||||||
| Fund 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 |
| COWSETF Index | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| S&P 500 TR Index | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Quarter end as of TBD | |||||||
| Fund 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 |
| COWSETF Index | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| S&P 500 TR Index | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Fund inception date: 9/13/2023. The performance data quoted represents past performance. Past performance does not guarantee future results. The 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 their original cost and
current performance may be lower or higher than the performance quoted. For performance data current to the most recent month-end please call 855-267-3837 or visit AmplifyETFs.com/COWS. Brokerage commissions will reduce returns.
Indexes are unmanaged and it’s not possible to invest directly in an index. The COWSETF Index is comprised of at least 40 and up to 100 mid- to large-capitalization publicly traded equity securities of US companies exhibiting characteristics of high free cash flow and consistent dividend growth. The S&P 500 Total Return Index is a market-capitalization-weighted index of the 500 largest U.S. publicly traded companies.
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.
| Calendar Year | Calendar Year through | |
|---|---|---|
| Days traded at premium | N/A | N/A |
| Days traded at net asset value | N/A | N/A |
| Days traded at discount | N/A | N/A |
Investing involves risk, including the possible loss of principal. The fund is new with limited operating history. You could lose money by investing in the Fund. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. There can be no assurance that the Fund’s investment objectives will be achieved. Brokerage commissions will reduce returns. Although the Shares are listed for trading on the Exchange, there can be no assurance that an active trading market for the Shares will develop or be maintained.
The value of the Shares will fluctuate with changes in the value of the equity securities in which it invests. Because the Fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund. Diversification does not assure a profit or protect against a loss in a declining market. The Fund is susceptible to operational risks through breaches in cyber security. Small and/or mid-capitalization companies may be more vulnerable to adverse general market or economic developments.
There is no guarantee that a company will pay or continually increase its dividends. The Fund intends to estimate annual income and pay in monthly installments. In doing so, some portion of the distribution could be considered a return of capital for tax purposes.
The Fund employs a “passive management” or indexing investment approach that seeks investment results that correspond (before fees and expenses) generally to the performance of its underlying index. Differences in timing of trades and valuation as well as fees and expenses, may cause the fund to not exactly replicate the index known as tracking error.
Amplify Investments LLC serves as the investment adviser to the Fund. Kelly Strategic Management, LLC and Penserra Capital Management LLC each serve as investment sub-advisers to the Fund.
Amplify ETFs are distributed by Foreside Fund Services, LLC.
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