November capped a remarkable seven-month winning streak for the S&P 500 with a narrow gain, as the longest government shutdown in U.S. history finally ended on the November 12th after 43 days, lifting a cloud of uncertainty that had dominated the first half of the month. Equities absorbed sharp mid-month swings, triggered by tariff anxiety and technology-sector profit-taking, before staging a late rally, led by Health Care and AI. As attention turns to December, markets will be watching for clarity on the Fed’s next move, with policymakers signaling flexibility rather than urgency. Easing inflation trends and continued earnings momentum could provide a constructive backdrop for risk assets into year-end. While uncertainties remain, the combination of cooling price pressures and resilient corporate fundamentals offers a foundation for cautious optimism heading into year-end.
During November, DIVO returned 2.24% (NAV), while the benchmark, the S&P 500 Index returned 0.25% and the CBOE S&P 500 BuyWrite Index (BXM) returned 2.18%. Year-to-date, DIVO returned 18.03%, while the S&P 500 returned to 17.81%. DIVO has shown strong performance, outperforming the S&P 500 index both in November and YTD so far. The fund continues to be structurally underweight in Information Technology relative to the S&P 500, given its focus on dividend paying companies. While the underweight has been challenging over the past several years, market breadth has improved this year across sectors and industries, helping support overall returns relative to the S&P 500. Notably, Health Care (+17.04%) and Financials (+2.14%) were strong contributors to the fund, while Energy (-1.90%) and Industrials (-1.11%) detracted from returns.1 Positions that contributed most significantly were Merck & Co. Inc. (MRK), Amgen Inc. (AMGN), and TJX Companies Inc. (TJX). The biggest detractors were Home Depot (HD) and Microsoft Corp. (MSFT).
During November Marathon Petroleum Corp. (MPC) was added to the Fund. Marathon Petroleum is a leading oil refiner with a strong balance sheet supported by tightness within the oil market that should provide a tailwind. Procter & Gamble (PG) and Agnico Eagle Mines (AEM) were trimmed, while Caterpillar (CAT), Microsoft (MSFT), and Apple (AAPL) were rebalanced. The position in Honeywell International (HON) was closed and TJX Companies (TJX) was partially called away.
Despite options activity throughout the month, the Fund ended November with no calls sold against portfolio holdings.2
The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. For most recent month-end performance, visit DIVOETF.com.
YIELD
| Distribution Frequency: Monthly |
Distribution Rate: 5.63% |
30-Day SEC Yield: 1.61% |
Distribution Rate is the normalized current distribution (annualized) over NAV per share. Distributions have been classified as a return of capital and may be comprised of option premiums, dividends, capital gains, and interest payments. As of the most recent distribution, 65% was estimated to be return of capital. See Form 19(a)-1. There is no guarantee the ETF will pay a distribution. 30-Day SEC Yield is a standard yield calculation developed by the Securities and Exchange Commission that allows for fairer comparisons among bond funds. It is based on the most recent month end. This figure reflects the income earned from dividends – excluding option income – during the period after deducting the Fund’s expenses for the period.
PERFORMANCE
Fund inception date: 12/13/2016. DIVO’s gross expense ratio is 0.56%. The performance data quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. For most recent month-end performance, visit AmplifyETFs.com/DIVO. Brokerage commissions will reduce returns. NAV is the sum of all its assets less any liabilities, divided by the number of shares outstanding. The closing price is the last price at which the fund traded.
SECTORS
| Sector | % Weight |
TOP 10 HOLDINGS
| Ticker | Name | % Weight |
All data as of 11/30/2025. Subject to change at any time. Fund holdings should not be considered recommendations to buy or sell any security. View Current Complete Holdings.
Index Definitions: All indexes are unmanaged and it’s not possible to invest directly in an index. S&P 500 Total Return Index—market-capitalization-weighted index of the 500 largest U.S. publicly traded companies by market value, and assumes distributions are reinvested back into the index. It does not include fees or expenses. CBOE S&P 500 BuyWrite Index (BXM)—tracks the performance of a hypothetical buy-write strategy on the S&P 500 Index. A “buy-write” strategy is generally one in which an investor buys a stock (or basket of stocks), and also writes covered calls that correspond to those holdings. CBOE Volatility Index (VIX) is a measure of implied volatility, based on the prices of a basket of S&P 500 Index options with 30 days to expiration. DIVO differs substantially from the S&P 500 Index and CBOE S&P 500 BuyWrite index, which are used for comparison purposes as widely recognized measures of U.S. stock market performance. While the returns of DIVO have exhibited positive (but varying) correlation to the indexes over time, DIVO may invest in different stocks and in different proportions than in the S&P 500 index and CBOE S&P 500 BuyWrite index.
1All percentages shown indicate total return of the sector for the month. 2A covered call refers to a financial transaction in which the investor selling call options owns an equivalent amount of the underlying security.