After bouncing from gains to losses to start the year, equities ended March firmly in the red, driven by geopolitical uncertainties that have dominated headlines all month. Volatility (CBOE Volatility Index) spiked from roughly ~20 at the end of February to more than 31, before ultimately closing the month lower, near 25, reflecting the ongoing uncertainties regarding the conflict in Iran and the implications for broader markets. Among those implications was the possibility of an inflation shock in the near term due to rising energy prices, which put into question the future path of interest rates. This created uncertainty in interest‑rate markets, with traders briefly pricing in about a 35% chance of a Fed rate hike by December, before those expectations dropped to near zero by the end of the month. Markets ultimately bounced off the lows in the final days of the month on renewed hope for a swift end to the conflict, along with remarks from the current Fed Chair Jerome Powell that suggested inflation concerns were being dismissed for now.

Introducing the Amplify LQD Investment Grade 12% Target Income ETF (LQDM) & Amplify HYG High Yield 10% Target Income ETF (HYGM)

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 Energy & Natural Resources Covered Call ETF (NDIV) is designed to balance high income and capital appreciation potential. NDIV targets 10% or greater annualized income from dividends and covered calls while providing exposure to energy and natural resource equities. NDIV seeks investment results that generally correspond to the price and yield of the VettaFi Energy and Natural Resources Covered Call Index. The Index comprises dividend-paying U.S. exchange-listed equities operating primarily in the energy (oil, gas, & consumable fuels) and natural resources-related industries.

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 TLT U.S. Treasury 12% Option Income ETF (TLTP) seeks investment results that generally correspond to the performance (before fees and expenses) of the Bloomberg U.S. Treasury 20+ Year 12% Premium Covered Call 2.0 Index. TLTP provides convenient single ticker access to a weekly covered call strategy offering opportunities for a higher level of income and capital appreciation on the shares not covered by calls.

The 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 Video Game Leaders ETF (GAMR) offers access to global companies in the video gaming value chain, including game development, publishing, mobile and online games, GPUs (graphics processing unit), development platforms, supporting software, hardware, peripherals, and the metaverse. GAMR seeks investment results that generally correlate (before fees and expenses) to the VettaFi Video Game Leaders Index.

The Amplify Online Retail ETF (IBUY) seeks investment results that correspond generally to the price performance of the EQM Online Retail Index. IBUY is a portfolio of companies generating significant revenue from online and virtual sales. Portfolio holdings fall into four categories: traditional retail, marketplace, omnichannel retail and travel.

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 involved in the pharmaceutical manufacturing of GLP-1 agonist or enablers of such businesses.