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 returned -3.64% on a total return adjusted net asset value (NAV) basis compared to its underlying benchmark, the EQM Online Retail Index, which returned -3.53% for the third quarter (Q3) 2026. YTD, IBUY declined -10.43% on a NAV basis compared to its underlying index, which was down -10.06%. View Standardized Performance
| Cumulative (%) | Annualized (%) | ||||||
|---|---|---|---|---|---|---|---|
| 1 Mo. | YTD | Since Inception | 1 Yr. | 3 Yr. | 5 Yr. | Since Inception |
|
| NAV | -7.98% | -10.43% | 169.34% | -12.54% | 14.60% | -9.39% | 9.95% |
| Closing Price | -7.70% | -10.30% | 169.57% | -12.25% | 14.70% | -9.36% | 9.95% |
| EQM Online Retail Index | -7.96% | -10.06% | 180.47% | -12.00% | 15.26% | -9.04% | 10.37% |
Data as of 9/30/26. 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.
| Ticker | Company | Weight (%) |
|---|---|---|
| W | Wayfair Inc | 3.78% |
| MSM | MSC Industrial Direct Co Inc | 2.90% |
| LQDT | Liquidity Services Inc | 2.85% |
| PYPL | PayPal Holdings Inc | 2.85% |
| SPOT | Spotify Technology SA | 2.84% |
| ABNB | Airbnb Inc | 2.75% |
| DASH | DoorDash Inc | 2.73% |
| CART | Maplebear Inc | 2.65% |
| EXPE | Expedia Group Inc | 2.64% |
| HIMS | Hims & Hers Health Inc | 2.61% |
Data as of 9/30/26. 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 Navigates Sector Divergence Amid Steady E-Commerce Base
The online retail sector experienced category divergence during Q3 2026. Data released during the third quarter from the U.S. Census Bureau E-Commerce Report showed that U.S. e-commerce sales reached $340.2 billion (+12.2% YoY) during the prior quarter, outperforming overall retail sales (+6.7% YoY) and accounting for 17.1% of total U.S. retail trade.1
While Online Marketplaces (+0.67% category return) provided positive index support, broader Online Retail (-3.20%) and Online Travel (-0.98%) sub-segments faced headwinds from selective consumer discretionary spending and promotional discounting.
Agentic AI & Conversational Shopping Agents Scale Across Platforms
AI integrations and agentic commerce – autonomous AI tools assisting with consumer product discovery and automated checkout – continued to expand across major e-commerce platforms during the quarter. The rise of agentic commerce and AI power users is reshaping digital retail discovery, leading consumers to explore a broader array of boutique merchants and complete purchases earlier in the buying cycle.2
Direct Distribution & Agent Pay Trust Frameworks Rebalance Digital Margins
During Q3 2026, digital commerce shifted beyond traditional omnichannel fulfillment toward direct distribution networks and verified AI payment frameworks. To support autonomous purchasing agents, global payment networks deployed agentic trust and probability scoring frameworks (such as Mastercard's Agent Pay Trust Framework) to establish secure merchant-agent intent controls.3 Concurrently, merchants expanded direct-to-consumer (DTC) web portals to capture higher gross margins and minimize dependency on third-party marketplace fees.
IBUY’s top contributors to performance in Q3 2026 were FIGS Inc. (+35.48%), PayPal Holdings Inc. (+21.96%), and DocMorris AG (+47.94%).
Online medical attire retailer FIGS staged a strong Q3 rally (+0.55% index contribution), recovering from prior margin headwinds through disciplined inventory management and expanding international direct-to-consumer sales. PayPal Holdings posted solid gains (+0.47% index contribution), supported by accelerating transaction margin dollars and expanding global branded checkout volumes.4 Swiss online pharmacy DocMorris AG (+0.38% index contribution) surged on accelerating e-prescription adoption in Germany and market-share gains in digital healthcare logistics.5 Additional positive contributions were delivered by home furnishings marketplace Wayfair (+10.97%) and European online marketplace Allegro.eu (+31.00%).
Detractors from performance in Q3 2026 included Shutterstock Inc. (-69.75%), Neighborhood Intelligence Inc. (-49.22%), and Tripadvisor Inc. (-38.95%).
Shutterstock was the primary detractor from index returns (-1.35% contribution) following the formal termination of its planned $3.7 billion merger with Getty Images in July due to UK regulatory divestiture demands. Neighborhood Intelligence declined (-1.21% contribution) on wider-than-expected earnings losses following its merger with The Brand House Collective. Online travel platform Tripadvisor (-1.05% contribution) experienced selling pressure amid broader cooling in consumer hotels and experiences-booking growth.
Visit the IBUY fund page for more information, including fact sheets, index methodology, and regulatory documents.