COMMENTARY After 9 consecutive weeks of gains in the S&P 500, it seemed like the equity rally had run out of steam just as the calendar turned the page on a new year. Or had it? Softer than expected inflation data reinforced expectations that interest rate cuts were a real possibility this year, though the timing continues to be a source of debate. Generally positive economic news and earnings releases supported the thesis that – despite being on the other side of one of the most aggressive interest rate hike campaigns ever – the economy and the consumer appeared relatively healthy. The result: by mid-January the equity markets were making all-time highs.

COMMENTARY Amplify Natural Resources Dividend Income ETF (NDIV) seeks investment results that generally correspond to the price and yield of the EQM Natural Resources Dividend Income Index. The Index is comprised of dividend-paying U.S. exchange-listed equities operating primarily in the natural resource and commodity-related industries such as: energy, chemicals, agriculture, metals & mining, paper products, and timber. NDIV returned -3.12% on a net asset value (NAV) compared to its benchmark, the EQM Natural Resources Dividend Income Index at -3.15% for the month, as of January 31, 2024. Metals & mining (-10.19%) and chemicals (-5.16%) detracted the most to the Fund’s return for the month.1 Positions that contributed most significantly included Hess Midstream (HESM), Petroleo Brasieiro (PBR) and Phillips 66 (PSX). Positions that detracted most significantly included Gerdau (GGB), Ternium (TX) and Newmont (NEM).

BLOK Portfolio Manager Mike Venuto shares his thoughts on BLOK ETF and the blockchain industry in this 4th quarter report of 2023. Click HERE for BLOK’s prospectus. Learn more about Amplify Transformational Data Sharing ETF (BLOK), including the top 10 holdings, blockchain industry allocations, and more.

Kevin Simpson, Portfolio Manager of our DIVO and IDVO ETF, share his thoughts about the 4th quarter portfolios positioning in 2023. Tim Seymour discusses the international markets and outlook for the rest of 2024. Learn more about Amplify CWP Enhanced Dividend Income ETF (DIVO) and Amplify International Enhanced Dividend Income ETF (IDVO) including the top 10 holdings and yield information.

Portfolio Manager Tim Seymour shares his insights on the cannabis sector's markets and important macro news in this CNBS 4th quarter report of 2023. Learn more about Amplify Seymour Cannabis ETF (CNBS), including the top 10 holdings, country allocations, and market allocations.

Audio Commentary by Tim Seymour

As is always the case, we encourage investors to think long-term about the Fund’s focus on growth, disruption, and transformation. We would remind readers that it took around 12 years for the automobile to displace the horse drawn carriage, but once it happened no one looked back. History has many examples of evolutionary (or even revolutionary) technologies that solve social problems and/or cause important changes. Companies that are driven by this change most often experience accelerated long-term revenue and earnings growth. These companies have corporate cultures that are led by CEOs/founders who are willing to do what is different. Companies that do not seek to embrace change ultimately go the way of the past. This may be one reason why growth stocks tend to outperform value stocks.

Chicago, February 27, 2024—Amplify ETFs announces February income distributions for its ETFs.

Chicago, February 27, 2024—Amplify ETFs announces February income distributions for its ETFs.

Amplify Samsung SOFR ETF (SOF) makes shortlist for Best New U.S. Fixed Income ETF Amplify ETFs, a leading provider of innovative exchange-traded funds, is pleased to announce the Amplify Samsung SOFR ETF (SOF) is on the shortlist of nominees for the 2024 ETF.com Award for Best New U.S. Fixed Income ETF.*