Amplify’s flagship ETF surpasses $500m in assets

Jul 19th, 2018 | By | Category: Equities

Amplify ETFs has announced its flagship fund, the Amplify Online Retail ETF (IBUY US), has reached $500m in assets under management since its launch in April 2016.

Christian Magoon, CEO of Amplify ETFs.

Christian Magoon, founder and CEO of Amplify ETFs.

The milestone was reached due to a combination of investor demand and strong performance.

The fund has returned 44.8% in the past year and generated a cumulative return of 115.5% since inception.

Christian Magoon, founder and CEO of Amplify ETFs, said, “We knew when we launched IBUY in April 2016 it had potential to be disruptive. Now with more than $500 million in assets and positive performance we feel investors have affirmed IBUY’s position as a bellwether ETF for the evolving retail sector.”

IBUY tracks the EQM Online Retail Index, a rules-based index which tracks a globally diverse basket of companies that fall into three online retail categories – marketplace, travel and merchants – all of which must generate 70% of revenue from online or virtual sales. The index has 39 constituents (as at 30 June 2018) and is most heavily exposed to the US (77%), followed by the UK (6%), China (5%) and Japan (4%).

IBUY has an expense ratio of 65 bps and is listed on Nasdaq.

ProShares recently launched a comparable ETF, the ProShares Online Retail ETF (ONLN US). This fund also enables investors to participate in the continued upside potential of the online retail theme in a single trade. It tracks the ProShares Online Retail Index, which consists of both US and non-US companies listed on a US stock exchange. ONLN is slightly cheaper than IBUY with an expense ratio of 58 bps.

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