ETF Research Center

The Amplify Online Retail ETF tracks an index of global stocks issued by firms with revenues dominated by online retail sales. Stocks are equally weighted within 2 geographic buckets.

FUND BASICS
Category	Global Equities
Fund Sponsor	Amplify
Website	amplifyetfs.com
Inception date	Apr 20, 2016
Assets (mns)	$246
Currency	USD
Expense ratio	65 bp
Distributions	Annually

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting	Tiered
Index replication
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	47
Wgt avg mkt cap (mns)	$55,974
Large cap (>$10bn)	47.5%
Mid cap ($2-10bn)	26.1%
Small cap (<$2bn)	26.4%
Developed mkts	90.2%
Emerging mkts	9.8%

TOP TEN HOLDINGS
Total	32.8 %
STAMPS.COM INC	4.8 %
GRUBHUB INC	3.6 %
UBER TECHNOLOGIES, INC.	3.5 %
1-800-FLOWERS.COM INC-CL A	3.2 %
CARVANA CO. CLASS A	3.2 %
NETFLIX INC	3.0 %
STITCH FIX, INC. CLASS A	3.0 %
CHEWY, INC. CLASS A	3.0 %
ETSY, INC.	2.9 %
PETMED EXPRESS INC	2.8 %

TOP COUNTRY EXPOSURE
	UNITED STATES	72.6 %
	CHINA	7.5 %
	GERMANY	4.4 %
	BRITAIN	2.5 %
	CANADA	2.0 %
	JAPAN	1.8 %
	ARGENTINA	1.7 %
	NETHERLANDS	1.5 %
	INDIA	1.1 %
	LUXEMBOURG	1.1 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru January 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
0.1%	11.4%	--	--	21.8%

Market Correlations
versus...	Beta	R-squared
S&P500	1.40	66%
MSCI EAFE	1.33	49%
MSCI Emg. Mkts.	0.95	43%

Technical Indicators
Recent close	$53.56
30d moving avg.	$53.58
Annualized volatility	21.0%
Short interest (ETF)	0.2%
Relative strength (RSI)	61

Liquidity measures
Avg. volume (thou.)	28
Turnover	0.6%
Bid/Ask (% of price)	0.12%
ADV underlying (mns)	$19,912

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Amplify Online Retail ETF ETF based on the alternatives' overlap in portfolio holdings with IBUY. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

IBUY

Expense:

65 bp

ALTAR Score™:

-1.0%

ALTERNATIVE ETFs BASED ON OVERLAP WITH IBUY
Ticker	Fund Name	Overlap¹ vs IBUY (%)	Expense ratio (bp)	Savings vs IBUY (bp)	ALTAR Score™ (%)	ALTAR vs IBUY (%)
ONLN	ProShares Online Retail ETF	39.6	58	7	2.0	+3.0
XWEB	SPDR S&P Internet ETF	39.2	35	30	1.7	+2.7
PLAT	WisdomTree Modern Tech Platforms Fund	37.3	45	20	2.2	+3.2
EBIZ	Global X E-Commerce ETF	33.0	50	15	3.0	+4.0
GBUY	Goldman Sachs Motif New Age Consumer ETF	26.4	50	15	2.7	+3.7
GIGE	SoFi Gig Economy ETF	26.0	59	6	0.0	+1.0
MILN	Global X Millennials Thematic ETF	23.9	50	15	2.8	+3.8
PNQI	Invesco NASDAQ Internet ETF	23.4	62	3	2.5	+3.5
XBUY	Amplify International Online Retail ETF	22.5	69	-4	-1.0	+0.0
XRT	SPDR S&P Retail ETF	20.3	35	30	8.6	+9.6
OGIG	O'Shares Global Internet Giants ETF	19.0	48	17	1.1	+2.1
TTTN	UP Fintech China-U.S. Internet Titans ETF	17.1	59	6	3.8	+4.7
FDN	First Trust Dow Jones Internet Index Fund	16.2	52	13	3.1	+4.1
QQXT	First Trust Nasdaq-100 Ex-Technology Sector Index Fund	16.0	60	5	4.7	+5.6
GENY	Principal Millennials Index ETF	15.0	45	20	4.9	+5.9
FDNI	First Trust Dow Jones International Internet ETF	13.2	65	0	2.9	+3.9
ARKW	ARK Web x.0 ETF	12.8	76	-11	-0.5	+0.5
AIQ	Global X Future Analytics Tech ETF	12.8	68	-3	4.3	+5.3
XNTK	SPDR Morgan Stanley Technology ETF	12.6	35	30	4.7	+5.7
ARKF	ARK Fintech Innovation ETF	12.4	75	-10	1.4	+2.4

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%.

Content on this tab for subscribers only**

RESULTS & ESTIMATES

	2015	2016	2017	2018	2019	2020E	2021E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
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

Content on this tab for subscribers only

VALUATION METRICS

	2019	2020E	2021E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	Amplify Online Retail ETF
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	-2.1	%
Divided by: Fwd. P/BV	6.3	x
Less: Expense ratio	65	bp
Equals: ALTAR Score	-1.0	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.49	CATEGORY AVERAGE	1.55

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.