COWSAmplify Cash Flow Dividend Leaders ETF
The fund invests at least 80% of its net assets in securities that comprise the index, which will primarily include dividend paying U.S. equity securities. The index is based on a proprietary methodology developed and maintained by Kelly Indexes, LLC, an affiliate of Kelly Strategic Management, LLC, an investment sub-adviser to the fund. The fund is non-diversified.
Amplify ETFs · Since 2023 (2 years)
0.19%
#793 out of 5,332 ETFs
$30M
#3797 out of 5,332 ETFs
1.77%
2 years
#3240 out of 5,332 ETFs
Performance
1 Year
+34.8%
3 Years
N/A
5 Years
N/A
What's inside
Asset allocation
Top holdings
Risk profile
16.8%
Moderate
-24.8%
Worst peak-to-trough loss
N/A
N/A
Similar ETFs
Our take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Covered call ETF — yield ≠ total return
The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.
Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
Why we flagged this: strategy=option_income + option_income_strategy
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
Data updated on 2026-05-05