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HCOWAmplify COWS Covered Call ETF

Get income2y track recordRanked #1,323 of 1,650 in this goal

Seeks to provide investors with current income.

By Amplify ETFs · Launched 2023

Annual Cost

0.65%

#3,433 of 5,861 · average

Fund Size

$16M

#4,603 of 5,861 · small

Dividend YieldGoal

2.79%

Track Record

2 years

#3,092 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$12,139+21.4%

Total-return NAV, USD. Net of fund fees, before tax.

What's inside

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Option income

What it actually holds

By weight

Concentration

Top 10 holdings = 30.3% of fund✓ well diversified

Amplify Cash Flow Dividend Lea
4.2%
Cheniere Energy Inc
3.1%
Delta Air Lines Inc
3.1%
Dell Technologies Inc
3.0%
Range Resources Corp
2.9%
TD SYNNEX Corp
2.9%
Allison Transmission Holdings
2.8%
Cigna Group/The
2.8%
Owens Corning
2.7%
Roper Technologies Inc
2.7%

Asset allocation

Stocks
98.8%
Cash
1.2%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
13.8%Moderate

Year-on-year price swings

Max drawdown
-24.2%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Listing

Exchange
NASDAQ Global Select Market

Full fund details

Objective
Seeks to provide investors with current income.
Strategy
Invests at least 80% of net assets in U.S. equity securities and written covered call option contracts referencing those securities to generate current income. The underlying equity securities are held by the Amplify Cash Flow Dividend Leaders ETF, which targets companies based on float-adjusted market capitalization.
Inception date
September 19, 2023
Fund family
Amplify ETFs

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Covered call
Warning

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-08-04