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)	$144
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	48
Wgt avg mkt cap (mns)	$113,954
Large cap (>$10bn)	87.3%
Mid cap ($2-10bn)	8.9%
Small cap (<$2bn)	0.0%
Developed mkts	68.8%
Emerging mkts	31.2%

TOP TEN HOLDINGS
Total	34.4 %
SAP AG-SPONSORED ADR	4.7 %
TENCENT HOLDINGS LTD-UNS ADR	4.0 %
CAMECO CORP	3.6 %
BARCLAYS PLC-SPONS ADR	3.6 %
RELX PLC SPONSORED ADR	3.5 %
PETROLEO BRASILEIRO S.A.-ADR	3.1 %
ALIBABA GROUP HOLDING LTD. SPONSOR	3.1 %
ICICI BANK LTD-SPON ADR	3.0 %
SOUTHERN COPPER CORP	2.9 %
CANADIAN NATURAL RESOURCES	2.9 %

TOP COUNTRY EXPOSURE
	BRITAIN	14.8 %
	CANADA	11.8 %
	CHINA	7.1 %
	GERMANY	6.7 %
	BRAZIL	6.2 %
	INDIA	5.4 %
	UNITED STATES	5.0 %
	IRELAND	4.8 %
	JAPAN	4.1 %
	ARGENTINA	3.7 %

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.
12.6%	14.8%	--	--	15.4%

Market Correlations
versus...	Beta	R-squared
S&P500	0.70	55%
MSCI EAFE	0.70	73%
MSCI Emg. Mkts.	0.62	50%

Technical Indicators
Recent close	$29.96
30d moving avg.	$30.80
Annualized volatility	11.5%
Short interest (ETF)	0.9%
Relative strength (RSI)	48

Liquidity measures
Avg. volume (thou.)	25
Turnover	0.5%
Bid/Ask (% of price)	0.36%
ADV underlying (mns)	$7,191

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 21 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™:

7.3%

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	3.0	68	-3	1.4	-5.9
FTHI	First Trust BuyWrite Income ETF	2.5	75	-10	4.8	-2.6
MMLG	First Trust Multi-Manager Large Growth ETF	2.4	85	-20	1.9	-5.4
SIXH	ETC 6 Meridian Hedged Equity Index Option ETF	1.5	82	-17	5.8	-1.5
CCOR	Core Alternative ETF	1.2	107	-42	4.8	-2.5
QYLE	Global X Nasdaq 100 ESG Covered Call ETF	0.9	60	5	4.2	-3.1
JEPQ	J.P. Morgan Nasdaq Equity Premium Income ETF	0.7	35	30	4.4	-2.9
FTQI	First Trust Nasdaq BuyWrite Income ETF	0.7	75	-10	3.4	-3.9
QRMI	Global X NASDAQ 100 Risk Managed Income ETF	0.7	60	5	4.0	-3.3
QYLD	Global X NASDAQ 100 Covered Call ETF	0.7	60	5	4.1	-3.2
QYLG	Global X Nasdaq 100 Covered Call & Growth ETF	0.7	60	5	4.1	-3.3
QTR	Global X NASDAQ 100 Tail Risk ETF	0.6	26	39	4.4	-2.9
QCLR	Global X NASDAQ 100 Collar 95-110 ETF	0.6	25	40	4.4	-2.9
NUSI	Nationwide Nasdaq-100 Risk-Managed Income ETF	0.6	68	-3	4.0	-3.3
XYLD	Global X S&P 500 Covered Call ETF	0.4	60	5	4.3	-3.0
PBP	Invesco S&P 500 BuyWrite ETF	0.4	49	16	4.5	-2.9
XRMI	Global X S&P 500 Risk Managed Income ETF	0.4	60	5	4.4	-3.0
XYLG	Global X S&P 500 Covered Call & Growth ETF	0.4	60	5	4.4	-2.9
XCLR	Global X S&P 500 Collar 95-110 ETF	0.4	25	40	5.0	-2.3
XTR	Global X S&P 500 Tail Risk ETF	0.4	26	39	5.0	-2.3
SFLR	Innovator Equity Managed Floor ETF	0.1	89	-24	4.1	-3.3

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	**	**	**	**	**	**	**
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 International 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	13.2	%
Divided by: Fwd. P/BV	1.7	x
Less: Expense ratio	65	bp
Equals: ALTAR Score	7.3	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.54	CATEGORY AVERAGE	1.60

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.