ETF Research Center

IDVO is an actively managed ETF that provides current income and capital appreciation by selecting dividend-paying ADRs of stocks from the MSCI ACWI ex USA Index, overlaid with a tactical call writing strategy.

FUND BASICS
Category	International Equities
Fund Sponsor	Amplify Investments
Website	amplifyetfs.com/idvo/
Inception date	Sep 08, 2022
Assets (mns)	$484
Currency	USD
Expense ratio	65 bp
Distributions	Monthly

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

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	52
Wgt avg mkt cap (mns)	$151,895
Large cap (>$10bn)	90.2%
Mid cap ($2-10bn)	6.3%
Small cap (<$2bn)	0.5%
Developed mkts	67.3%
Emerging mkts	32.7%

TOP TEN HOLDINGS
Total	33.9 %
ALIBABA GROUP HOLDING LTD. SPONSOR	5.3 %
TAIWAN SEMICONDUCTOR-SP ADR	4.1 %
BANCOLOMBIA S.A.-SPONS ADR	3.6 %
MITSUBISHI UFJ FINL GRP-ADR	3.5 %
NOVARTIS AG-ADR	3.5 %
BARCLAYS PLC-SPONS ADR	3.1 %
EMBRAER SA-ADR	2.9 %
SUMITOMO MITSUI-SPONS ADR	2.8 %
SOUTHERN COPPER CORP	2.7 %
SIEMENS AG-SPONS ADR	2.6 %

TOP COUNTRY EXPOSURE
	CHINA	11.9 %
	CANADA	11.2 %
	JAPAN	10.3 %
	BRITAIN	8.2 %
	BRAZIL	5.3 %
	TAIWAN	5.1 %
	GERMANY	4.9 %
	SPAIN	3.8 %
	COLOMBIA	3.6 %
	UNITED STATES	3.5 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru September 30)
Year-to-date	1 year	5 years	10 years	Since Incep.
29.4%	27.4%	--	--	20.4%

Market Correlations
versus...	Beta	R-squared
S&P500	0.65	52%
MSCI EAFE	0.48	34%
MSCI Emg. Mkts.	0.38	18%

Technical Indicators
Recent close	$37.75
30d moving avg.	$37.15
Annualized volatility	11.1%
Short interest (ETF)	0.2%
Relative strength (RSI)	60

Liquidity measures
Avg. volume (thou.)	141
Turnover	1.1%
Bid/Ask (% of price)	0.21%
ADV underlying (mns)	$6,122

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 22 potential alternatives to the Amplify International Enhanced Dividend Income ETF ETF based on the alternatives' overlap in portfolio holdings with IDVO. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

IDVO

Expense:

65 bp

ALTAR Score™:

4.4%

ALTERNATIVE ETFs BASED ON OVERLAP WITH IDVO
Ticker	Fund Name	Overlap¹ vs IDVO (%)	Expense ratio (bp)	Savings vs IDVO (bp)	ALTAR Score™ (%)	ALTAR vs IDVO (%)
THNQ	ROBO Global Artificial Intelligence ETF	6.7	68	-3	2.0	-2.4
FTHI	First Trust BuyWrite Income ETF	3.6	75	-10	4.4	-0.1
MMLG	First Trust Multi-Manager Large Growth ETF	3.4	85	-20	1.6	-2.8
LCG	Sterling Capital Focus Equity ETF	2.3	59	6	3.0	-1.5
DIVO	Amplify CWP Enhanced Dividend Income ETF	1.8	55	10	4.8	+0.4
JEPQ	J.P. Morgan Nasdaq Equity Premium Income ETF	1.3	35	30	4.0	-0.5
QRMI	Global X NASDAQ 100 Risk Managed Income ETF	1.3	60	5	4.0	-0.4
QYLD	Global X NASDAQ 100 Covered Call ETF	1.3	60	5	3.8	-0.7
NUSI	Nationwide Nasdaq-100 Risk-Managed Income ETF	1.3	68	-3	3.7	-0.8
QYLG	Global X Nasdaq 100 Covered Call & Growth ETF	1.3	60	5	3.7	-0.8
QTR	Global X NASDAQ 100 Tail Risk ETF	1.3	26	39	3.9	-0.6
QCLR	Global X NASDAQ 100 Collar 95-110 ETF	1.3	25	40	4.0	-0.4
FTQI	First Trust Nasdaq BuyWrite Income ETF	1.0	75	-10	3.7	-0.7
SIXH	ETC 6 Meridian Hedged Equity Index Option ETF	0.9	82	-17	7.2	+2.8
GARP	iShares MSCI USA Quality GARP ETF	0.8	15	50	4.1	-0.3
SFLR	Innovator Equity Managed Floor ETF	0.5	89	-24	3.7	-0.8
XYLD	Global X S&P 500 Covered Call ETF	0.4	60	5	4.7	+0.2
XRMI	Global X S&P 500 Risk Managed Income ETF	0.4	60	5	4.8	+0.4
XYLG	Global X S&P 500 Covered Call & Growth ETF	0.4	60	5	4.5	+0.0
PBP	Invesco S&P 500 BuyWrite ETF	0.4	49	16	4.7	+0.3
XCLR	Global X S&P 500 Collar 95-110 ETF	0.4	25	40	4.7	+0.3
XTR	Global X S&P 500 Tail Risk ETF	0.4	26	39	4.6	+0.2

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

	2020	2021	2022	2023	2024	2025E	2026E
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

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VALUATION METRICS

	2024	2025E	2026E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	Amplify International Enhanced Dividend Income 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	12.2	%
Divided by: Fwd. P/BV	2.4	x
Less: Expense ratio	65	bp
Equals: ALTAR Score	4.4	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.52	CATEGORY AVERAGE	1.63

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.