Amplify Natural Resources Dividend Income ETF (NDIV) 3rd Quarter Commentary 2025
30-Day SEC Yield**: 7.51%
Distribution Frequency: Monthly
Fund inception date: 8/24/2022. NDIV’s total expense ratio is 0.59%. 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/NDIV. 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. There is no guarantee that distributions will be made. *Distribution Rate is the normalized current distribution (annualized) over NAV per share. Distribution stated includes estimated net investment income and no return of capital. See Form 19a-1. **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.
Among NDIV’s top performers in Q3 were Helmerich & Payne (+48%), CVR Energy (+36%), and APA Corp (+35%)
US land rig driller Helmerich & Payne operates the largest fleet of land drilling rigs and has a growing international presence despite headwinds. Quarterly revenue rose 49.2% year-over-year to $1.04 billion, above analyst estimates of $1 billion.3 CVR Energy continues to be a target of activist investor Carl Icahn. Improving crack spreads4 and cost efficiencies have driven a rebound in the stock.5 APA Corp’s recent August earnings call painted a picture of robust financial health and strategic advancements, despite some operational challenges. The company reported a noteworthy reduction in net debt, cutting over $850 million in the quarter, which marks a decrease of more than 15%.6
Detractors from performance for the Q3 period were FMC Corp (-18%), LyondellBasell Industries (-13%) and Atlas Energy Solutions (-13%)
FMC Corp’s stock reached a new 52-week low, while maintaining a notable 7.46% dividend yield and a 20-year streak of consistent dividend payments. Company earnings actually beat expectations amid market pressures and internal challenges.7 Chemical company LyondellBasell is pausing projects due to a weak operating environment.8 Atlas Energy Solutions saw multiple downgrades on soft Permian sand market pricing pressures.9
Visit the NDIV fund page for more information, including fact sheets, index methodology and regulatory documents.
All data as of 9/30/25. Subject to change at any time. Fund holdings should not be considered recommendations to buy or sell any security. View Current Complete Holdings
This material is preceded or accompanied by a prospectus.
Index Definitions: An index is unmanaged and it’s not possible to invest directly in an index. The EQM Natural Resources Dividend Income Index (NDIVITR) is a gross total return index that seeks to provide investment exposure to dividend-paying equity securities of global companies operating primarily in the natural resource and commodity-related industries. You could lose money by investing in the Fund. There can be no assurance that the Fund's investment objectives will be achieved. Because the Fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund. Diversification does not assure a profit or protect against a loss in a declining market.
1investingnews.com/daily/resource-investing/energy-investing/oil-and-gas-investing/us-oil-and-gas-dividend-stocks/
2cnbc.com/2025/10/13/big-oil-to-confront-tough-choices-as-mega-profits-fade-into-memory.html
3marketbeat.com/stocks/NYSE/HP/earnings/
4Crack Spreads: the difference in price between crude oil and the refined petroleum products made from it, such as gasoline and diesel
5investors.com/research/ibd-stock-of-the-day/cvr-energy-carl-icahn-favorite-breaks-out-israel-qatar-strike-crack-spread/
6finance.yahoo.com/news/apa-corp-apa-q2-2025-072904760.html
7investing.com/news/company-news/fmc-stock-hits-52week-low-at-306-usd-93CH-4277618
8bizjournals.com/houston/news/2025/10/13/exxon-lyondellbasell-chemicals-industry-challenges.html
9investing.com/news/stock-market-news/rbc-downgrades-atlas-energy-as-soft-permian-sand-market-pressures-prices-4279490
The Fund is subject to the risks associated with companies in the natural resources and commodities-related industries, energy and material sectors which can cause volatility and affect its value. These industries can be significantly affected by rapid changes in supply and demand, changes in interest rates, government policies and regulations, environmental concerns, worldwide politics, and economic conditions. The Fund will invest in American Depositary Receipts which may be subject to certain risks associated with direct investments in the securities of non-U.S. companies, such as currency, political, economic and market risks because their values depend on the performance of the non-dollar denominated underlying non-U.S. securities.
Dividend-Paying Companies are not obligated to pay or continue to pay dividends on their securities. Therefore, there is a possibility that a company could reduce or eliminate the payment of dividends in the future, which could negatively affect the Fund's performance.
The Fund employs a “passive management” or indexing investment approach that seeks investment results that correspond (before fees and expenses) generally to the performance of its underlying index. Differences in timing of trades and valuation as well as fees and expenses, may cause the fund to not exactly replicate the index known as tracking error.
Amplify Investments LLC serves as the Investment Adviser to the Fund, and Tidal Investments, LLC serves as the investment sub-adviser. Amplify ETFs are distributed by Foreside Fund Services, LLC.
Carefully consider the Funds’ investment objectives, risk factors, charges, and expenses before investing. This and additional information can be found in Amplify Funds statutory and summary prospectus, which may be obtained by calling 855-267-3837 or by visiting AmplifyETFs.com. Read the prospectus carefully before investing.
Investing involves risk, including the possible loss of principal. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.
Amplify ETFs are distributed by Foreside Fund Services, LLC.