AMPLIFY ETF TRUST

Amplify High Income ETF YYY

Amplify Online Retail ETF IBUY

Amplify CWP Enhanced Dividend Income ETF DIVO

Amplify Transformational Data Sharing ETF BLOK

Amplify Lithium & Battery Technology ETF BATT

Amplify BlackSwan Growth & Treasury Core ETF SWAN

Amplify Emerging Markets FinTech ETF EMFQ

Amplify Seymour Cannabis ETF CNBS

Amplify Pure Junior Gold Miners ETF JGLD

Amplify BlackSwan ISWN ETF ISWN

Amplify Cleaner Living ETF DTOX

Amplify Thematic All-Stars ETF MVPS

Amplify Digital & Online Trading ETF BIDS

Amplify BlackSwan Tech & Treasury ETF SWAN

Amplify Inflation Fighter ETF IWIN

SEMI-ANNUAL REPORT

April 30, 2022

 

  

Amplify ETF Trust

Table of Contents

  

SCHEDULES OF INVESTMENTS

 

2

STATEMENTS OF ASSETS AND LIABILITIES

 

29

STATEMENTS OF OPERATIONS

 

32

STATEMENTS OF CHANGES IN NET ASSETS

 

35

FINANCIAL HIGHLIGHTS

 

50

NOTES TO THE FINANCIAL STATEMENTS

 

65

BOARD CONSIDERATIONS REGARDING APPROVAL OF INVESTMENT MANAGEMENT AGREEMENT AND SUB-ADVISORY AGREEMENT

 

92

REVIEW OF LIQUIDITY RISK MANAGEMENT PROGRAM

 

106

DISCLOSURE OF FUND EXPENSES

 

107

ADDITIONAL INFORMATION

 

110

SUPPLEMENTAL INFORMATION

 

112

PRIVACY POLICY

 

113

Amplify ETF Trust (the “Trust”) files its complete schedule of fund holdings with the Securities and Exchange Commission (the “Commission”) for the first and third quarters of each fiscal year on Part F of Form N-PORT within sixty days after the end of the period. The Trust’s Part F of Form N-PORT is available on the Commission’s website at www.sec.gov, and may be reviewed and copied at the Commission’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.

A description of the policies and procedures that Amplify Investments, LLC (the “Adviser”) uses to determine how to vote proxies relating to portfolio securities, as well as information relating to how a fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, is available (i) without charge, upon request, by calling 1-855-267-3837 and (ii) on the Commission’s website at www.sec.gov.

1

Amplify ETF Trust

Amplify High Income ETF

Schedule of Investments

April 30, 2022 (Unaudited)

Description

 

Shares

 

Value

INVESTMENT COMPANIES — 99.5%

     

 

 

Equity — 9.4%

     

 

 

Aberdeen Total Dynamic Dividend Fund

 

1,178,173

 

$

10,426,831

Cohen & Steers REIT and Preferred and Income Fund, Inc.

 

214,928

 

 

5,267,885

John Hancock Tax-Advantaged Dividend Income Fund

 

259,362

 

 

6,478,863

Liberty All-Star Equity Fund

 

1,615,356

 

 

11,355,953

       

 

33,529,532

Fixed Income — 90.1%

     

 

 

Aberdeen Asia-Pacific Income Fund, Inc.

 

2,986,527

 

 

9,556,886

AllianceBernstein Global High Income Fund, Inc.

 

992,147

 

 

10,119,899

Allspring Income Opportunities

 

1,423,732

 

 

10,734,939

Blackrock Capital Allocation Trust

 

93,387

 

 

1,453,102

BlackRock Corporate High Yield Fund, Inc.

 

887,923

 

 

9,154,486

BlackRock Credit Allocation Income Trust

 

290,292

 

 

3,338,358

Blackstone Strategic Credit Fund

 

642,925

 

 

7,985,129

Calamos Global Dynamic Income Fund(a)

 

505,406

 

 

3,967,437

Cohen & Steers Tax-Advantaged Preferred Securities & Income Fund

 

401,267

 

 

8,233,999

DoubleLine Income Solutions Fund

 

749,247

 

 

10,137,312

DoubleLine Yield Opportunities Fund

 

651,884

 

 

10,319,324

Eaton Vance Limited Duration Income Fund

 

398,861

 

 

4,375,505

First Trust High Income Long/Short Fund

 

222,751

 

 

2,857,895

First Trust High Yield Opportunities 2027 Term Fund

 

379,080

 

 

6,269,983

First Trust Intermediate Duration Preferred & Income Fund(a)

 

230,812

 

 

4,641,629

Flaherty & Crumrine Preferred and Income Securities Fund, Inc.

 

150,700

 

 

2,748,768

Highland Income Fund

 

931,937

 

 

11,052,773

Invesco Senior Income Trust

 

2,097,551

 

 

8,683,861

Description

 

Shares

 

Value

MainStay CBRE Global Infrastructure Megatrends Fund

 

651,550

 

$

11,597,590

Nuveen AMT-Free Quality Municipal Income Fund

 

251,534

 

 

3,134,114

Nuveen Core Plus Impact Fund

 

652,543

 

 

8,587,466

Nuveen Credit Strategies Income Fund

 

1,874,754

 

 

11,098,544

Nuveen Dynamic Municipal Opportunities Fund

 

147,747

 

 

1,694,658

Nuveen Floating Rate Income Fund

 

1,103,182

 

 

10,469,197

Nuveen Multi-Asset Income Fund

 

659,585

 

 

9,544,195

Nuveen Preferred & Income Opportunities Fund

 

927,192

 

 

7,408,264

Nuveen Preferred & Income Securities Fund

 

1,276,683

 

 

9,894,293

Nuveen Quality Municipal Income Fund

 

168,831

 

 

2,161,037

Oxford Lane Capital Corp.(a)

 

1,598,747

 

 

10,935,430

PGIM Global High Yield Fund, Inc.

 

795,666

 

 

10,232,265

PGIM High Yield Bond Fund, Inc.(a)

 

760,335

 

 

10,591,467

PIMCO Corporate & Income Opportunity Fund(a)

 

492,798

 

 

7,155,427

Pimco Dynamic Income Fund

 

489,161

 

 

11,206,679

PIMCO Dynamic Income Opportunities Fund

 

442,396

 

 

7,065,064

PIMCO High Income Fund

 

1,422,102

 

 

8,034,876

PIMCO Income Strategy Fund II

 

807,644

 

 

6,719,598

Templeton Global Income Fund

 

2,365,019

 

 

11,091,939

Thornburg Income Builder Opportunities Trust (a)

 

644,036

 

 

10,182,209

Virtus AllianzGI Convertible & Income Fund

 

2,143,916

 

 

9,540,426

Western Asset Diversified Income Fund

 

653,208

 

 

10,124,724

Western Asset Emerging Markets Debt Fund, Inc.

 

932,615

 

 

9,018,387

       

 

323,119,134

Total Investment Companies
(Cost $412,522,309)

     

 

356,648,666

       

 

 

MONEY MARKET FUNDS — 0.2%

     

 

 

Invesco Government & Agency Portfolio - Institutional Class — 0.34%(b)

 

801,129

 

 

801,129

Total Money Market Funds
(Cost $801,129)

     

 

801,129

The accompanying notes are an integral part of the financial statements.

2

Amplify ETF Trust

Amplify High Income ETF

Schedule of Investments

April 30, 2022 (Unaudited) (Continued)

Description

 

Shares

 

Value

INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING — 1.8%

     

 

 

First American Government Obligations Fund - Class X — 0.22%(b)

 

6,529,336

 

$

6,529,336

Total Investments Purchased with Proceeds from Securities Lending
(Cost $6,529,336)

     

 

6,529,336

       

 

 

Total Investments — 101.5%
(Cost $419,852,774)

     

$

363,979,131

Percentages are based on Net Assets of $358,770,070.

(a)   All or a portion of this security is out on loan as of April 30, 2022. Total value of securities out on loan is $6,335,903 or 1.8% of net assets.

(b)  Seven-day yield as of April 30, 2022.

The accompanying notes are an integral part of the financial statements.

3

Amplify ETF Trust

Amplify Online Retail ETF

Schedule of Investments

April 30, 2022 (Unaudited)

Description

 

Shares

 

Value

COMMON STOCKS — 99.6%

     

 

 

Marketplace — 37.2%

     

 

 

Affirm Holdings, Inc.(a)(b)

 

65,001

 

$

1,865,529

Alibaba Group Holding Ltd. - ADR(b)

 

27,029

 

 

2,624,246

BigCommerce Holdings, Inc.(b)

 

232,135

 

 

4,148,252

ContextLogic, Inc. - Class A(a)(b)

 

2,009,301

 

 

3,415,812

Copart, Inc.(b)

 

67,224

 

 

7,640,008

Coupang, Inc.(b)

 

147,611

 

 

1,899,754

Dada Nexus Ltd. - ADR(b)

 

213,762

 

 

1,631,004

Delivery Hero SE(b)(c)

 

35,798

 

 

1,277,974

DiDi Global, Inc. - ADR(b)

 

536,687

 

 

1,008,971

DingDong Cayman Ltd. - ADR(a)(b)

 

145,209

 

 

771,060

DoorDash, Inc. - Class A(a)(b)

 

50,841

 

 

4,139,983

Etsy, Inc.(b)

 

43,690

 

 

4,071,471

Fiverr International Ltd.(b)

 

27,190

 

 

1,447,867

Global-e Online Ltd.(b)

 

76,394

 

 

1,721,921

Groupon, Inc.(a)(b)

 

445,480

 

 

8,691,315

Jumia Technologies AG - ADR(a)(b)

 

234,442

 

 

1,657,505

Just Eat Takeaway.com NV(b)(c)

 

62,859

 

 

1,744,039

KE Holdings, Inc. - ADR(b)

 

236,791

 

 

3,357,696

Liquidity Services, Inc.(b)

 

476,931

 

 

6,877,345

Lyft, Inc. - Class A(b)

 

213,525

 

 

6,960,915

MercadoLibre, Inc.(b)

 

2,934

 

 

2,856,630

Ozon Holdings PLC - ADR(a)(b)(d)

 

106,678

 

 

PayPal Holdings, Inc.(b)

 

45,470

 

 

3,998,177

Pinduoduo, Inc. - ADR(b)

 

48,584

 

 

2,093,484

Poshmark, Inc. - Class A(b)

 

435,295

 

 

4,805,657

Rakuten Group, Inc.

 

406,100

 

 

2,872,663

Sea Ltd. - ADR(b)

 

12,697

 

 

1,050,804

Shopify, Inc. - Class A(b)

 

3,034

 

 

1,294,972

The RealReal, Inc.(a)(b)

 

823,676

 

 

4,464,324

ThredUp, Inc. - Class A(b)

 

510,673

 

 

3,365,335

Uber Technologies, Inc.(b)

 

228,983

 

 

7,208,385

Upwork, Inc.(b)

 

214,017

 

 

4,487,936

Vivid Seats, Inc. - Class A(a)

 

783,583

 

 

7,733,964

       

 

113,184,998

Description

 

Shares

 

Value

Traditional Retail — 47.5%

     

 

 

1-800-Flowers.com, Inc. - Class A(b)

 

307,568

 

$

3,137,194

About You Holding SE(a)(b)

 

194,207

 

 

2,106,158

Amazon.com, Inc.(b)

 

3,120

 

 

7,755,166

ASKUL Corp.

 

334,000

 

 

4,097,307

ASOS PLC(b)

 

130,106

 

 

2,287,154

BARK, Inc.(a)(b)

 

1,454,001

 

 

4,492,863

CarParts.com, Inc.(b)

 

699,798

 

 

4,191,790

Carvana Co.(b)

 

34,735

 

 

2,013,241

Chegg, Inc.(a)(b)

 

307,198

 

 

7,600,078

Chewy, Inc. - Class A(a)(b)

 

143,114

 

 

4,158,893

Cimpress PLC(b)

 

48,599

 

 

2,454,735

eBay, Inc.

 

138,781

 

 

7,205,509

Farfetch Ltd. - Class A(b)

 

114,607

 

 

1,283,598

Figs, Inc. - Class A(b)

 

247,669

 

 

3,878,496

HelloFresh SE(b)

 

44,063

 

 

1,886,336

IAC/InterActiveCorp(b)

 

68,292

 

 

5,660,041

iQIYI, Inc. - ADR(a)(b)

 

527,852

 

 

1,879,153

JD.com, Inc. - ADR(b)

 

55,159

 

 

3,401,104

Lands’ End, Inc.(b)

 

389,891

 

 

5,466,272

MYT Netherlands Parent BV - ADR(a)(b) 

 

164,642

 

 

1,965,825

Netflix, Inc.(b)

 

15,243

 

 

2,901,657

Newegg Commerce, Inc.(a)(b)

 

818,537

 

 

5,255,008

Ocado Group PLC(b)

 

187,663

 

 

2,180,427

Overstock.com, Inc.(b)

 

99,927

 

 

3,353,550

Peloton Interactive, Inc. - Class A(b)

 

116,474

 

 

2,045,283

PetMed Express, Inc.(a)

 

327,176

 

 

7,165,154

Purple Innovation, Inc.(a)(b)

 

528,211

 

 

2,176,229

Qurate Retail, Inc. - Class A

 

1,057,653

 

 

4,452,719

Rent the Runway, Inc. - Class A(a)(b)

 

659,674

 

 

4,182,333

Revolve Group, Inc.(b)

 

137,779

 

 

5,822,541

Shutterstock, Inc.

 

87,401

 

 

6,618,004

Solo Brands, Inc. - Class A(a)(b)

 

572,078

 

 

3,415,306

Spotify Technology SA(b)

 

15,067

 

 

1,531,561

Stitch Fix, Inc. - Class A(b)

 

299,962

 

 

2,849,639

Temple & Webster Group Ltd.(b)

 

493,313

 

 

2,056,444

Vipshop Holdings Ltd. - ADR(b)

 

389,462

 

 

2,983,279

Vroom, Inc.(a)(b)

 

526,607

 

 

821,507

Wayfair, Inc. - Class A(a)(b)

 

38,955

 

 

2,997,198

Zalando SE(b)(c)

 

51,329

 

 

2,048,481

ZOZO, Inc.

 

143,200

 

 

3,045,517

       

 

144,822,750

Travel — 14.9%

     

 

 

Airbnb, Inc. - Class A(b)

 

60,586

 

 

9,282,381

Booking Holdings, Inc.(b)

 

4,314

 

 

9,535,278

Expedia Group, Inc.(b)

 

64,523

 

 

11,275,394

The accompanying notes are an integral part of the financial statements.

4

Amplify ETF Trust

Amplify Online Retail ETF

Schedule of Investments

April 30, 2022 (Unaudited) (Continued)

Description

 

Shares

 

Value

MakeMyTrip Ltd.(b)

 

136,998

 

$

3,489,339

Trip.com Group Ltd. - ADR(b)

 

156,788

 

 

3,708,036

TripAdvisor, Inc.(b)

 

318,869

 

 

8,185,367

       

 

45,475,795

Total Common Stocks
(Cost $641,439,516)

     

 

303,483,543

       

 

 

MONEY MARKET FUNDS — 0.4%

     

 

 

Invesco Government & Agency Portfolio - Institutional Class — 0.34%(e)

 

1,098,119

 

 

1,098,119

Total Money Market Funds
(Cost $1,098,119)

     

 

1,098,119

       

 

 

INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING — 17.1%

     

 

 

First American Government Obligations Fund - Class X — 0.22%(e)

 

52,198,176

 

 

52,198,176

Total Investments Purchased with Proceeds from Securities Lending
(Cost $52,198,176)

     

 

52,198,176

       

 

 

Total Investments — 117.1%
(Cost $694,735,811)

     

$

356,779,838

Percentages are based on Net Assets of $304,654,929.

ADR - American Depositary Receipt

(a)   All or portion of this security is out on loan as of April 30, 2022. Total value of securities out on loan is $47,607,381 or 15.6% of net assets.

(b)  Non-income producing security.

(c)   Security exempt from registration under Rule 144(a) and Regulation S of the Securities Act of 1933. Such securities are treated as liquid securities, according to the Fund’s liquidity guidelines. At April 30, 2022 the value of these securities amounted to $5,070,494 or 1.7% of net assets.

(d)  Illiquid security. At April 30, 2022, the value of this security amounted to $0 or 0.0% of net assets.

(e)   Seven-day yield as of April 30, 2022.

For Fund compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or they may be defined by Fund Management. This definition may not apply for purposes of this report, which may combine sub-classifications for reporting ease. Industries are shown as a percentage of net assets.

The Global Industy Classification Standard (GICS®) was developed by and/or is the exclusive of MSCI, Inc. and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

The accompanying notes are an integral part of the financial statements.

5

Amplify ETF Trust

Amplify CWP Enhanced Dividend Income ETF

Schedule of Investments

April 30, 2022 (Unaudited)

Description

 

Shares

 

Value

COMMON STOCKS — 90.6%

     

 

 

Communication Services — 1.4%

     

 

 

Verizon Communications, Inc.

 

399,676

 

$

18,504,999

Consumer Discretionary — 9.5%

     

 

 

McDonald’s Corp.

 

289,891

 

 

72,229,242

The Home Depot, Inc.

 

179,778

 

 

54,005,311

       

 

126,234,553

Consumer Staples — 7.7%

     

 

 

The Coca-Cola Co.

 

443,845

 

 

28,676,825

The Procter & Gamble Co.

 

459,880

 

 

73,833,734

       

 

102,510,559

Energy — 9.7%

     

 

 

Chevron Corp.

 

445,745

 

 

69,834,869

Marathon Petroleum Corp.

 

684,805

 

 

59,756,084

       

 

129,590,953

Financials — 15.7%

     

 

 

Aflac, Inc.

 

663,331

 

 

37,995,600

Intercontinental Exchange, Inc.

 

522,455

 

 

60,505,513

JPMorgan Chase & Co.

 

429,514

 

 

51,266,791

The Goldman Sachs Group, Inc.

 

196,614

 

 

60,063,611

       

 

209,831,515

Health Care — 13.4%

     

 

 

Johnson & Johnson

 

382,504

 

 

69,026,672

Merck & Co., Inc.

 

349,819

 

 

31,025,447

UnitedHealth Group, Inc.

 

154,255

 

 

78,446,380

       

 

178,498,499

Industrials — 9.4%

     

 

 

CSX Corp.

 

1,210,720

 

 

41,576,125

Deere & Co.

 

134,555

 

 

50,801,240

United Parcel Service, Inc. - Class B

 

183,764

 

 

33,073,845

       

 

125,451,210

Description

 

Shares

 

Value

Information Technology — 17.6%

     

 

 

Apple, Inc.

 

431,046

 

$

67,954,402

Cisco Systems, Inc.

 

722,885

 

 

35,406,907

Microsoft Corp.

 

227,330

 

 

63,088,622

Visa, Inc. - Class A

 

321,984

 

 

68,624,450

       

 

235,074,381

Materials — 2.8%

     

 

 

Dow, Inc.

 

570,906

 

 

37,965,249

Utilities — 3.4%

     

 

 

Duke Energy Corp.

 

416,576

 

 

45,890,012

Total Common Stocks
(Cost $1,175,889,358)

     

 

1,209,551,930

       

 

 

Total Investments — 90.6%
(Cost $1,175,889,358)

     

$

1,209,551,930

Percentages are based on Net Assets of $1,334,958,709.

The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor Financial Services LLC (“S&P”). GICS® is a service mark of MSCI, Inc. and S&P and has been licensed for use by the Fund’s Administrator, U.S. Bancorp Fund Services, LLC.

The accompanying notes are an integral part of the financial statements.

6

Amplify ETF Trust

Amplify CWP Enhanced Dividend Income ETF

Schedule of Options Written

April 30, 2022 (Unaudited)

 

Contracts

 

Notional
Amount

 

Value

Call Options Written(a) — (0.06)%

     

 

 

 

 

 

 

 

CHEVRON CORP NEW, Expires 5/20/2022, Strike Price $177.50

 

3,500

 

$

(54,834,500

)

 

$

(155,750

)

CSX Corp., Expires 5/20/2022, Strike Price $37.50

 

9,000

 

 

(30,906,000

)

 

 

(135,000

)

DOW, Inc., Expires 5/20/2022, Strike Price $73.00

 

5,000

 

 

(33,250,000

)

 

 

(127,500

)

Duke Energy Corp., Expires 5/20/2022, Strike Price $120.00

 

3,400

 

 

(37,454,400

)

 

 

(42,500

)

PROCTER AND GAMBLE Co., Expires 5/20/2022, Strike Price $170.00

 

4,000

 

 

(64,220,000

)

 

 

(184,000

)

VISA, Inc., Expires 5/20/2022, Strike Price $240.00

 

2,520

 

 

(53,708,760

)

 

 

(104,580

)

       

 

 

 

 

 

 

 

Total Call Options Written
(Premiums Received $1,435,853)

     

 

 

 

 

$

(749,330

)

(a)   Exchange Traded.

The accompanying notes are an integral part of the financial statements.

7

Amplify ETF Trust

Amplify Transformational Data Sharing ETF

Schedule of Investments

April 30, 2022 (Unaudited)

Description

 

Shares

 

Value

COMMON STOCKS — 90.9%

     

 

 

Banks — 8.7%

     

 

 

Customers Bancorp, Inc.(a)

 

232,721

 

$

9,790,572

New York Community Bancorp, Inc.

 

846,630

 

 

7,822,861

Signature Bank/New York NY

 

52,374

 

 

12,687,602

Silvergate Capital Corp.(a)

 

341,430

 

 

39,933,653

       

 

70,234,688

Diversified Financials — 22.0%

     

 

 

CME Group, Inc.

 

176,028

 

 

38,609,982

Coinbase Global, Inc. - Class A(a)

 

242,762

 

 

27,361,705

Galaxy Digital Holdings Ltd.(a)(b)

 

2,595,654

 

 

28,388,229

Mogo, Inc.(a)(b)(c)

 

5,403,017

 

 

10,157,672

Nocturne Acquisition Corp.(a)(c)(d)

 

380,000

 

 

4,104,000

Robinhood Markets, Inc. - Class A(a)(b)

 

542,538

 

 

5,319,585

SBI Holdings, Inc./Japan

 

1,669,227

 

 

37,468,374

Vontobel Holding AG

 

139,238

 

 

10,248,719

WisdomTree Investments, Inc.

 

2,553,004

 

 

14,884,013

       

 

176,542,279

Media & Entertainment — 3.4%

     

 

 

ROBLOX Corp. - Class A(a)

 

197,408

 

 

6,050,555

Z Holdings Corp.

 

5,303,831

 

 

21,031,412

       

 

27,081,967

Retailing — 3.0%

     

 

 

Overstock.com, Inc.(a)

 

607,524

 

 

20,388,505

Rakuten Group, Inc.

 

555,475

 

 

3,929,309

       

 

24,317,814

Semiconductors — 1.0%

     

 

 

Intel Corp.

 

179,700

 

 

7,833,123

Semiconductors & Semiconductor Equipment — 7.3%

     

 

 

Advanced Micro Devices, Inc.(a)

 

180,410

 

 

15,428,663

NVIDIA Corp.

 

177,950

 

 

33,004,387

Taiwan Semiconductor Manufacturing Co. Ltd. ADR

 

107,717

 

 

10,010,141

       

 

58,443,191

Description

 

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Value

Software & Services — 43.1%