Amplify High Income ETF
 
Schedule of Investments
 
January 31, 2021 (Unaudited)
 
             
             
Description
 
Shares
   
Value
 
             
INVESTMENT COMPANIES - 99.5%
           
Equity - 6.5%
           
Adams Diversified Equity Fund, Inc.
   
217,492
   
$
3,727,813
 
John Hancock Tax-Advantaged Dividend Income Fund
   
144,107
     
3,017,601
 
Liberty All-Star Equity Fund (a)
   
1,716,730
     
11,690,931
 
             
18,436,345
 
Fixed Income - 93.0%
               
AllianceBernstein Global High Income Fund, Inc.
   
774,824
     
9,057,693
 
AllianzGI Convertible & Income Fund
   
2,070,972
     
11,825,250
 
AllianzGI Dividend Interest & Premium Strategy Fund
   
883,546
     
11,733,491
 
BlackRock Corporate High Yield Fund, Inc.
   
221,207
     
2,455,398
 
BlackRock Debt Strategies Fund, Inc.
   
660,404
     
6,967,262
 
BlackRock Resources & Commodities Strategy Trust (a)
   
1,621,881
     
12,845,298
 
Blackstone / GSO Strategic Credit Fund (a)
   
932,678
     
12,115,487
 
Cohen & Steers Quality Income Realty Fund, Inc.
   
404,440
     
5,002,923
 
Cohen & Steers REIT and Preferred and Income Fund, Inc. (a)
   
197,343
     
4,434,297
 
DoubleLine Income Solutions Fund
   
719,509
     
11,907,874
 
DoubleLine Yield Opportunities Fund
   
554,380
     
10,527,676
 
Eaton Vance Limited Duration Income Fund
   
950,032
     
11,875,400
 
Eaton Vance Tax-Advantaged Dividend Income Fund
   
232,899
     
5,359,006
 
Eaton Vance Tax-Advantaged Global Dividend Income Fund
   
440,739
     
7,708,525
 
Highland Income Fund
   
1,143,374
     
11,731,017
 
Invesco Dynamic Credit Opportunities Fund
   
1,125,831
     
12,327,849
 
Invesco Senior Income Trust
   
3,018,621
     
12,527,277
 
NexPoint Strategic Opportunities Fund
   
1,114,084
     
12,533,445
 
Nuveen Credit Strategies Income Fund
   
1,559,266
     
9,901,339
 
Nuveen Floating Rate Income Fund
   
1,340,458
     
12,372,427
 
PGIM Global High Yield Fund, Inc.
   
813,750
     
11,774,963
 
PGIM High Yield Bond Fund, Inc.
   
768,447
     
11,565,127
 
PIMCO Dynamic Credit and Mortgage Income Fund
   
346,352
     
7,301,100
 
Pimco Dynamic Income Fund
   
229,405
     
5,987,471
 
Wells Fargo Income Opportunities Fund
   
1,343,542
     
10,949,867
 
Western Asset Emerging Markets Debt Fund, Inc.
   
841,748
     
11,329,928
 
Western Asset High Income Opportunity Fund, Inc.
   
1,689,057
     
8,293,270
 
             
262,410,660
 
Total Investment Companies (Cost $288,722,661)
           
280,847,005
 
                 
MONEY MARKET FUNDS - 0.1%
               
STIT-Government & Agency Portfolio - Institutional Class - 0.03% (b)
   
410,691
     
410,691
 
Total Money Market Funds (Cost $410,691)
           
410,691
 
                 
INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 0.6%
               
First American Government Obligations Fund - Class X - 0.04% (b)
   
1,562,108
     
1,562,108
 
Total Investments Purchased with Proceeds from Securities Lending (Cost $1,562,108)
           
1,562,108
 
Total Investments - 100.2%
               
(Cost $290,695,460)
         
$
282,819,804
 

Percentages are based on Net Assets of $282,120,721.
(a)
All or a portion of this security is out on loan as of January 31, 2021. Total value of securities out on loan is $1,472,190 or 0.5% of net assets.
(b)
Seven-day yield as of January 31, 2021.

Security Valuation
                 
                     
In accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP, the Funds disclose fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The following describes the levels of the fair value hierarchy:
 
Level 1 – Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Funds have the ability to access at the measurement date;
Level 2 – Quoted prices which are not active, or inputs that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and
Level 3 – Prices, inputs or exotic modeling techniques which are both significant to the fair value measurement and unobservable (supported by little or no market activity).
                     
The valuation techniques used by the Funds to measure fair value for the year/period ended January 31, 2021 maximized the use of observable inputs and minimized the use of unobservable inputs.
                     
Common stocks, preferred stock, and other equity securities listed on any national or foreign exchange (excluding Nasdaq) and the London Stock Exchange Alternative Investment Market (“AIM”) will be valued at the last price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price. Securities traded on more than one securities exchange are valued at the last sale price or official closing price, as applicable, at the close of the exchange representing the principal market for such securities. Foreign securities and other assets denominated in foreign currencies are translated into U.S. dollars at the current exchange rate, which approximates fair value. Redeemable securities issued by open-end investment companies shall be valued at the investment company’s applicable NAV, with the exception of exchange-traded open-end and closed-end investment companies which are priced as equity securities. Exchange-traded options will be valued at the current mean price where such contracts are principally traded. Securities traded in the over-the-counter market are valued at the mean of the bid and the asked price, if available, and otherwise at their closing bid price. Fixed income securities will be valued using the mean price. Fixed income securities having a remaining maturity of 60 days or less when purchased will be valued at the current market price. If there is no current market price available then the securities will be valued at cost and adjusted for amortization of premiums and accretions of discounts.
 
If no quotation is available from either a pricing service, or one or more brokers or if the pricing committee has reason to question the reliability or accuracy of a quotation supplied, securities are valued at fair value as determined in good faith by the pricing committee, pursuant to procedures established under the general supervision and responsibility of the Fund’s Board of Trustees (the “Board”).
 
The following is a summary of the fair valuations according to the inputs used to value the Fund's investments as of January 31, 2021:

 
Category
                   
 
Investments in Securities
                   
 
Assets
                   
 
Level 1
                   
 
   Investment Companies
  $
                                       280,847,005
             
 
   Money Market Funds
   
                                                410,691
             
 
Investments Purchased with Proceeds from Securities Lending
   
                                             1,562,108
             
 
Total Level 1
   
                                         282,819,804
             
 
Level 2
   
                                                          -
             
 
Total Level 2
   
                                                          -
             
 
Level 3
   
                                                          -
             
 
Total Level 3
   
                                                          -
             
 
Total
  $
                                       282,819,804
             
                       
See the Schedules of Investments for further disaggregation of investment categories.
                       
For the period ended January 31, 2021, there were no transfers into or out of Level 3 for the Fund.
                       
Secured Borrowings (unaudited)
                 
The Funds adopted guidance requiring entities to present gross obligations for secured borrowings by the type of collateral pledged and remaining time to maturity.
 
As of January 31, 2021, the Fund had loaned securities and received cash collateral for the loans. The cash collateral is invested by the Securities Lending Agent in accordance with approved investment guidelines. Those guidelines require the cash collateral to be invested in readily marketable, high quality, short-term obligations; however, such investments are subject to risk of payment delays or default on the part of the issuer or counterparty or otherwise may not generate sufficient interest to support the costs associated with securities lending. The Fund could also experience delays in recovering its securities and possible loss of income or value if the borrower fails to return the borrowed securities, although the Fund is indemnified from this risk by contract with the Securities Lending Agent.