CHICAGO--(BUSINESS WIRE)--Amplify ETFs announces the conversion of the YieldShares High Income ETF (NYSE Arca: YYY) (the “Fund”) to the Amplify ETF Trust from the Exchange Traded Concepts Trust, effective Monday, October 7. Since 2016, Amplify ETFs has been servicing, marketing and supporting the product as a Sub-Adviser; Amplify is now Adviser to the Fund.
Additionally, the Fund’s new name is the Amplify High Income ETF. The Fund maintains the same ticker (YYY), investment objective, selection criteria, management fee and underlying index.
“Given the success of YYY, we are thrilled to have the Fund formally become a part of the Amplify ETF Trust,” explains Christian Magoon, CEO and founder of Amplify ETFs, and founder of YieldShares LLC. “As an income-oriented product, YYY is a great complement to our thematic ETF lineup. This move is a seamless transition for clients and we look forward to continuing to provide the value that YYY has delivered to shareholders over the years.”
YYY is a portfolio of 30 closed-end funds (CEFs) based on a rules-based index. The ISE High Income Index selects CEFs ranked highest overall by ISE in the following factors: Yield, Discount to Net Asset Value (NAV), and Liquidity. This investment approach results in a portfolio which contains a variety of asset classes, investment strategies and asset managers, and seeks to provide a high level of income on a monthly basis.
YYY is also at all-time highs in fund assets, with $236.5mil as of 9/30/19. For more information on the Fund, please visit: AmplifyETFs.com/YYY
Click here for a full list of Amplify ETFs: AmplifyETFs.com/ETFList
About Amplify ETFs
Amplify ETFs, sponsored by Amplify Investments, has $750 million in assets as of 9/30/2019. Amplify believes the ETF structure empowers investors through efficiency, transparency and flexibility. Since its first ETF launch in 2016, Amplify seeks to build ETFs powered by investment strategies from leading index providers and asset managers within unique market segments.
There is no guarantee that distributions will be made.
Carefully consider the Fund’s 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 above or 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. Because the Fund is a fund of funds, its investment performance largely depends on the investment performance of the Underlying Funds in which it invests. An investment in the Fund is subject to the risks associated with the Underlying Funds that comprise the Index. For the full Fund disclosure, please refer to the Fund’s website at: https://amplifyetfs.com/YYY, or to the Fund’s Prospectus.
Amplify Investments LLC serves as the Investment Advisor and Penserra Capital Management LLC serves as sub-advisor to the Fund.
Amplify ETFs are distributed by Foreside Fund Services, LLC.