Audio Commentary by Tim Seymour

September defied seasonal expectations, delivering broad equity gains despite historical headwinds. The S&P 500 marked its strongest September performance in over a decade. While leadership remained concentrated in mega-cap tech, participation widened modestly across sectors. The Federal Reserve initiated its first rate cut of 2025 a 0.25% reduction to a target range of 4.00%–4.25% - citing softening labor data and elevated downside risks to employment. Markets responded positively, though policymakers signaled a cautious path forward, with two additional cuts penciled in but contingent on incoming data. Historically, September ranks as the weakest month for equity returns, but 2025 bucked the trend. Looking ahead, October is typically the most volatile month for U.S. equities, and with fiscal and monetary policy in flux, investors may face a more reactive tape. As of September 30th, a government shutdown appeared imminent, adding another layer of uncertainty to an already seasonally turbulent period.

ETTY & EHY seek high monthly income and Ether growth exposure: ETTY targets 36% and EHY 50-80% in anticipated annualized option income

ETTY & EHY seek high monthly income and Ether growth exposure: ETTY targets 36% and EHY 50-80% in anticipated annualized option income

Market and Economic Update

Audio Commentary by Tim Seymour

Amplify Lithium & Battery Technology ETF (BATT) seeks investment results that correspond generally to the EQM Lithium & Battery Technology Index. BATT is a portfolio of companies generating significant revenue from the development, production and use of lithium battery technology, including: 1) battery storage solutions, 2) battery metals & materials, and 3) electric vehicles (EV).

The Amplify Samsung SOFR ETF (SOFR) is an actively managed strategy aimed to provide current monthly income. SOFR ETF seeks to closely replicate the performance of the Secured Overnight Financing Rate, as published by the Federal Reserve Bank of New York.1

The Amplify Samsung U.S. Natural Gas Infrastructure ETF (USNG) seeks long-term capital appreciation by investing primarily in assets of U.S.-listed equity securities of natural gas companies. USNG is actively managed using the GARP (growth at a reasonable price) method to select companies believed to benefit from the U.S. natural gas infrastructure ecosystem across upstream, midstream, and downstream segments.

The Amplify Weight Loss Drug & Treatment ETF (THNR) seeks investment results that generally correspond to the performance of the VettaFi Weight Loss Drug & Treatment Index. THNR provides access to global companies expected to economically benefit from weight loss drug development.