Amplify CWP Enhanced Dividend Income ETF
ALTAR
Score™		 5.5% info Recommen-
dation		 NEUTRAL
2024E    2025E
P/E
ratio		 19.8x P/Sales
ratio		 2.9x
P/BV
ratio		 4.4x Div.
yield		 2.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Amplify YieldShares CWP Dividend & Option Income ETF is an actively-managed ETF that aims to provide income by selecting stocks from the S&P 500 Index overlaid with a tactical call writing strategy.

FUND BASICS
Category US Equities
Fund Sponsor Amplify
Website www.amplifyetfs.com
Inception date Dec 13, 2016
Assets (mns) $3,755
Currency USD
Expense ratio 55 bp
Distributions Quarterly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Proprietary
Index replication
Uses derivatives Yes
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 24
Wgt avg mkt cap (mns) $652,439
Large cap (>$10bn) 100.0%
Mid cap ($2-10bn) 0.0%
Small cap (<$2bn) 0.0%
Developed mkts 100.0%
Emerging mkts 0.0%

TOP TEN HOLDINGS
UNITEDHEALTH GROUP INC 5.5 %
MICROSOFT CORP 5.5 %
VISA INC. CLASS A 5.4 %
CATERPILLAR INC 5.3 %
HONEYWELL INTERNATIONAL INC 5.1 %
HOME DEPOT INC 5.1 %
CME GROUP INC 5.1 %
CASH & OTHER 5.0 %
GOLDMAN SACHS GROUP INC 4.9 %
AMGEN INC 4.9 %
Total 51.8 %

TOP COUNTRY EXPOSURE
UNITED STATES 90.2 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 30)
Year-to-date 1 year 5 years 10 years Since Incep.
21.5% 26.0% 12.7% -- 12.9%

Market Correlations
versus... Beta R-squared
S&P500 0.66 78%
MSCI EAFE 0.61 65%
MSCI Emg. Mkts. 0.38 25%

Technical Indicators
Recent close $40.66
30d moving avg. $42.23
Annualized volatility 13.2%
Short interest (ETF) 0.3%
Short interest (Underlying) 0.9%
Relative strength (RSI) 49

Liquidity measures
Avg. volume (thou.) 327
Turnover 0.4%
Bid/Ask (% of price) 0.11%
ADV underlying (mns) $37,275

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 34 potential alternatives to the Amplify CWP Enhanced Dividend Income ETF ETF based on the alternatives' overlap in portfolio holdings with DIVO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: DIVO Expense: 55 bp ALTAR Score™: 5.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH DIVO
Ticker Fund
Name		 Overlap1
vs DIVO
(%)		 Expense
ratio
(bp)		 Savings
vs DIVO
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs DIVO
(%)
DJIA Global X Dow 30 Covered Call ETF 58.3 60 -5 4.7 -0.8
DYLG Global X Dow 30 Covered Call & Growth ETF 58.1 60 -5 4.8 -0.7
CCOR Core Alternative ETF 24.5 107 -52 4.8 -0.8
SIXH ETC 6 Meridian Hedged Equity Index Option ETF 24.1 82 -27 5.8 +0.3
ACIO Aptus Collared Investment Opportunity ETF 20.7 79 -24 4.1 -1.4
SFLR Innovator Equity Managed Floor ETF 19.3 89 -34 4.1 -1.5
PBP Invesco S&P 500 BuyWrite ETF 19.2 49 6 4.5 -1.1
XRMI Global X S&P 500 Risk Managed Income ETF 19.2 60 -5 4.4 -1.2
XYLD Global X S&P 500 Covered Call ETF 19.2 60 -5 4.3 -1.2
XYLG Global X S&P 500 Covered Call & Growth ETF 19.0 60 -5 4.4 -1.1
XTR Global X S&P 500 Tail Risk ETF 18.9 26 29 5.0 -0.6
XCLR Global X S&P 500 Collar 95-110 ETF 18.8 25 30 5.0 -0.6
XYLE Global X S&P 500 ESG Covered Call ETF 18.4 60 -5 4.7 -0.8
EFIV SPDR S&P 500 ESG ETF 18.1 10 45 5.1 -0.4
FTHI First Trust BuyWrite Income ETF 17.4 75 -20 4.8 -0.8
GARP iShares MSCI USA Quality GARP ETF 14.3 15 40 4.8 -0.7
MMLG First Trust Multi-Manager Large Growth ETF 12.0 85 -30 1.9 -3.6
FTQI First Trust Nasdaq BuyWrite Income ETF 11.7 75 -20 3.4 -2.1
QYLD Global X NASDAQ 100 Covered Call ETF 11.4 60 -5 4.1 -1.5
QRMI Global X NASDAQ 100 Risk Managed Income ETF 11.3 60 -5 4.0 -1.5
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 11.3 60 -5 4.1 -1.5
NUSI Nationwide Nasdaq-100 Risk-Managed Income ETF 11.3 68 -13 4.0 -1.5
QCLR Global X NASDAQ 100 Collar 95-110 ETF 11.3 25 30 4.4 -1.1
QTR Global X NASDAQ 100 Tail Risk ETF 11.2 26 29 4.4 -1.1
FYLG Global X Financials Covered Call & Growth ETF 11.2 60 -5 4.9 -0.7
JEPQ J.P. Morgan Nasdaq Equity Premium Income ETF 11.0 35 20 4.4 -1.2
QYLE Global X Nasdaq 100 ESG Covered Call ETF 9.1 60 -5 4.2 -1.3
HYLG Global X Health Care Covered Call & Growth ETF 7.6 60 -5 7.2 +1.7
TYLG Global X Information Technology Covered Call & Growth ETF 7.4 60 -5 4.6 -1.0
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF 7.4 75 -20 5.7 +0.2
THNQ ROBO Global Artificial Intelligence ETF 4.2 68 -13 1.4 -4.2
LCG Sterling Capital Focus Equity ETF 3.5 59 -4 3.6 -1.9
QQQA ProShares Nasdaq-100 Dorsey Wright Momentum ETF 3.1 58 -3 3.8 -1.7
XVOL Acruence Active Hedge U.S. Equity ETF 3.0 83 -28 5.1 -0.4

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2019 2020 2021 2022 2023 2024E 2025E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2023 2024E 2025E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 Amplify CWP Enhanced Dividend Income ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

NEUTRAL
Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 23.4 %
Divided by: Fwd. P/BV 3.9 x
Less: Expense ratio 55 bp
Equals: ALTAR Score 5.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.58 CATEGORY
AVERAGE		 1.58
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.