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.
IBUY gained 11.10% on a net asset value (NAV), compared to its underlying benchmark, the EQM Online Retail Index, which was up 11.29% for the second quarter (Q2) 2026. For comparison, the S&P Retail Select Industry Total Return Index returned 15.20%.
| Cumulative (%) | Annualized (%) | ||||||
| 1 Mo. | YTD | Since Inception | 1 Yr. | 3 Yr. | 5 Yr. | Since Inception | |
| NAV | 2.78% | -7.05% | 179.52% | 0.50% | 14.44% | -11.77% | 10.61% |
| Closing Price | 2.87% | -7.14% | 179.07% | 0.24% | 14.40% | -11.81% | 10.59% |
| EQM Online Retail Index | 2.83% | -6.77% | 190.72% | 1.17% | 15.10% | -11.43% | 11.03% |
Data as of 6/30/26. Fund inception date: 4/19/2016. Total expense ratio is 0.65%. 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. Click here for recent month end performance. 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.
Top 10 Holdings
| Ticker | Company | Weight (%) | Ticker | Company | Weight (%) |
|---|---|---|---|---|---|
| W | Wayfair Inc | 3.38% | CART | Maplebear Inc | 2.74% |
| TRIP | TripAdvisor Inc | 2.93% | RVLV | Revolve Group Inc | 2.73% |
| AFRM | Affirm Holdings Inc | 2.91% | BBBY | Bed Bath & Beyond | 2.65% |
| HIMS | Hims & Hers Health Inc | 2.90% | MSM | MSC Industrial Direct | 2.59% |
| ETSY | Etsy Inc | 2.86% | PTON | Peloton Interactive Inc | 2.59% |
Data as of 6/30/26. Holdings and allocations are subject to change at any time and should not be considered a recommendation to buy or sell a security.
Online Retail Saw Strong Momentum, Boosted by Prime Day, FIFA World Cup and AI
Online retail sales experienced accelerating momentum in Q2 2026, with annualized growth surging to 18%. Good weather, Amazon’s Prime Day event, and FIFA World Cup helped spur online retail sales. June retail sales were one of the strongest months seen post-COVID despite consumer headwinds such as higher gas prices and inflation.1 Nonstore retail growth of 18% was much higher than overall retail sales growth of 11% YOY. AI integrations and “agentic commerce” have also emerged as key drivers in shaping consumer discovery, higher conversion rates, and increased sales.2
Case for Online Retail Stronger Than Ever
The case for online retail, now even further enhanced by AI, centers on its ability to provide 24/7 global access with almost unlimited selection, achieve lower overhead costs, and data-driven personalization. Digital platforms allow brands to track exactly what users view, how long they linger, and what they buy. This first-party data helps deliver targeted recommendations, with brands using these strategies seeing an estimated 3x increase in revenue.3 Despite sustained e-commerce growth, roughly 80% of retail sales still take place in physical stores.3 But compared to digital channels, those stores have limited visibility into how customers behave and what ultimately influences their buying decisions.
Omnichannel Not a Competitive Edge but a Baseline
Omnichannel retail has evolved from a competitive edge into a mandatory operational baseline, marked by hyper-personalization, agentic AI, and the transformation of physical stores into “experience hubs".4 Successful retailers are unifying their online and offline data to offer seamless fulfillment options like BOPIS (Buy Online, Pick Up In-Store) and integrating AI into every step of the customer journey.
Top performers contributing to returns in Q2 include Affirm (+77.98%), Him & Hers Health (+67.00%), and Etsy (+50.72%).
Buy now, pay later (BNPL) provider Affirm has seen shares soar this year fueled by strong financial results with 30% revenue growth.5 The company’s Affirm Card has also emerged as a massive driver of organic growth. Shares of telehealth platform Him & Hers saw shares soar to new highs driven by an official partnership with Novo Nordisk to distribute GLP-1 drugs Ozempic and Wegovy.6 The company also received a $400 million new financing arrangement with JP Morgan. Investors are also excited about the company’s expansion into new verticals. Online marketplace Etsy staged a strong rally in Q2, achieving an unexpected turnaround in core user metrics and mobile app engagement thanks to a strategic refocus on its core marketplace business. 7 Etsy’s AI rollout has also helped improve conversion rates and shopping intent matching.
Detractors on performance for the Q2 period included FIGS (-30.74%), Chewy (-27.22%), and Upwork (-23.72%).
Online medical attire retailer FIGS missed its quarterly earnings estimates.8 The company faced supply chain headwinds including higher ocean-freight costs which weighed on FIGS’ margins. Pet product online retail Chewy saw its shares decline after issuing lower full-year revenue guidance.9 The company blamed the cautious consumer on less premium product spend. Upwork stock declined significantly in Q2 2026 due to a combination of weak financial guidance, a massive workforce reduction restructuring plan, and growing investor fears regarding AI disruption.10
Visit the IBUY fund page for more information, including fact sheets, index methodology, and regulatory documents.