Amplify ETFs has announced that its flagship product, the Amplify Online Retail ETF (IBUY US), surpassed $200 million in assets under management (AUM) as it continues to capitalize on the global growth of online retail sales.
Christian Magoon, CEO of Amplify ETFs.
Christian Magoon, founder and CEO of Amplify ETFs, commented, “Online retail sales only constitute 9% of total US sales, and we believe e-commerce is a trend that will gain significant momentum well into the future.
“IBUY presents a compelling opportunity for investors to capitalize on this robust growth potential within their traditional brick-and-mortar consumer discretionary and retail allocation.”
As of 31 January 2018, the fund has delivered an impressive 78.4% annualized return since it was first launched back in April 2016. The bulk of this performance can be attributed to the last 12 months, during which it has returned 58.3%.
The ETF tracks the EQM Online Retail Index, a rules-based index tracking a globally diverse basket of companies that fall into three online retail categories: marketplace, travel and merchants. All constituent companies must generate at least 70% of revenue from online or virtual sales. The index is equal-weighted with a maximum 25% exposure to non-US stocks. The underlying securities are split relatively evenly between large, mid and small-cap stocks, accounting for 34%, 39% and 27% respectively.
The ETF currently has AUM of $233.1m and an expense ratio of 0.65%.