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 International Online Retail ETF XBUY

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

ANNUAL REPORT

October 31, 2021

Beginning on January 1, 2022, as permitted by regulations adopted by the U.S. Securities and Exchange Commission, paper copies of the Amplify Seymour Cannabis ETF shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the Amplify Seymour Cannabis ETF’s reports from your financial intermediary, such as a broker-dealer or bank. Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.

If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. Please contact your financial intermediary to elect to receive shareholder reports and other Fund communications electronically.

You may elect to receive all future reports in paper free of charge. Please contact your financial intermediary to inform them that you wish to continue receiving paper copies of shareholder reports and for details about whether your election to receive reports in paper will apply to all funds held with your financial intermediary.

 

  

Amplify ETF Trust

Table of Contents

  

MARKET PERFORMANCE

 

2

FUND PERFORMANCE

 

3

SCHEDULES OF INVESTMENTS

 

16

STATEMENTS OF ASSETS AND LIABILITIES

 

39

STATEMENTS OF OPERATIONS

 

42

STATEMENTS OF CHANGES IN NET ASSETS

 

45

FINANCIAL HIGHLIGHTS

 

58

NOTES TO THE FINANCIAL STATEMENTS

 

71

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

94

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

 

96

REVIEW OF LIQUIDITY RISK MANAGEMENT PROGRAM

 

110

DISCLOSURE OF FUND EXPENSES

 

111

TRUSTEES AND OFFICERS OF THE TRUST

 

114

ADDITIONAL INFORMATION

 

116

SUPPLEMENTAL INFORMATION

 

118

PRIVACY POLICY

 

119

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

 

Market Performance (Unaudited)

October 31, 2021

Equity investors experienced healthy returns across the board through the end of October of 2021. Despite risks of new COVID outbreaks, the potential for increased US taxes and inflation rising, broad-based US stock indexes surged. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq 100 had positive returns ranging between 18-24% through the end of October. In addition, market capitalization and style indexes including the S&P Mid Cap Growth, S&P Mid Cap Value, S&P Small Cap Growth and S&P Small Cap Value all returned double digit positive returns. Besides healthy returns, the behavior of equity markets in 2021 was also quite calm with virtually no material corrections in the year. The first ten months of 2021 were a refreshing break for investors after a volatile 2020.

The S&P 500 delivered 24% year-to-date as of the end of October, which placed it in the middle of the various sector returns making up this well-known index. Reviewing the eleven sectors that comprise the S&P 500 index shows a variety of significant performance differences. In fact, three of the eleven S&P 500 sectors gained more than 30% year-to-date as of October 31. Leading the pack with just over a 57% gain was the Energy sector. Energy stocks continued to see their products in increased demand as the economy worldwide ramped up from the COVID slowdown of 2020. The energy sector declined 33% in 2020 amidst the worldwide economic slowdown, so 2021’s performance is a welcome sign for energy stock investors. Coming in a distant second and third place were the Financials sector with a 38% gain and the Real Estate sector with a 33% move upward. Both sectors were on the rebound in 2021 after experiencing slightly negative returns in 2020. After the top three sector winners, there were a mix of sectors that hovered around the 20% gain mark. Communication Services gained 25% and Technology and Consumer Discretionary followed closely with a 24% and 22% gain respectively. Returning 46% in 2020, the Technology sector has been on quite a roll the last 22 months. Healthcare, Industrials and Materials sectors returned between 18-19%, just underperforming the S&P 500. Utilities and Consumer Staples took the two bottom sector return positions with just single digit returns of 9% and 8% respectively. It’s notable there were no negative sectors returns in 2021 after 2020 saw three of eleven sectors in the red.

Looking forward to 2022, US investors will be watching the Federal Reserve’s tone, pace of interest rate increases, inflation data and geopolitical tensions with nations including China, Iran, and Russia. US equity markets have been abnormally rosy since the 2020 COVID lows, and it would not be surprising to see equity market volatility increase in 2022.

Past performance does not guarantee future results.

Investing involves risk; Principal loss is possible.

Fund holdings are subject to change and should not be considered a recommendation to buy or sell any security. Please see the Schedule of Investments for a complete list of Fund holdings.

S&P 500 Index: The S&P 500 is a market value weighted index and one of the common benchmarks for the U.S. stock market. Investors cannot invest directly in an index.

2

Amplify ETF Trust

Amplify High Income ETF

Fund Performance

October 31, 2021 (Unaudited)

Growth of a $10,000 Investment

(at Net Asset Value)

 

ANNUALIZED RETURNS

   

One Year

 

Three Year

 

Five Year

 

Inception to Date(a)

   

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

Amplify High Income ETF

 

30.71%

 

30.94%

 

  9.96%

 

  9.99%

 

  7.63%

 

  7.59%

 

  7.32%

 

7.34%

Hybrid SWM/ISE High Income Index(b)

 

31.70%

 

31.70%

 

10.64%

 

10.64%

 

  8.23%

 

  8.23%

 

  7.56%

 

7.56%

ISE High Income Index

 

31.70%

 

31.70%

 

10.64%

 

10.64%

 

  8.23%

 

  8.23%

 

  6.81%(c)

 

6.81%(c)

S&P 500 Index

 

42.91%

 

42.91%

 

21.48%

 

21.48%

 

18.93%

 

18.93%

 

16.64%

 

16.64%

(a)        Fund commenced operations on June 11, 2012.

(b)        Reflects performance of Sustainable North American Oil Sands Index® through June 20, 2013 and ISE High Income Index thereafter.

(c)        This figure represents performance of the ISE High Income IndexTM after the change in the index strategy utilized by the Fund beginning on June 20, 2013, and not since inception.

The Fund is the successor to the investment performance of the YieldShares High Income Fund (the “Predecessor High Income Fund”) as a result of the reorganization of the Predecessor High Income Fund into the Fund on October 7, 2019. Accordingly, the performance information shown in the chart and table above for periods prior to October 7, 2019 is that of the Predecessor High Income Fund’s Shares for the Fund. The Predecessor High Income Fund was managed by the same portfolio managers as the Fund and had substantially the same investment objectives, policies, and strategies as the Fund.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Prior to June 20, 2013, the Fund sought to provide investment results that, before fees and expenses, corresponded generally to the price and yield performance of the SWM Index. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

3

Amplify ETF Trust

Amplify Online Retail ETF

Fund Performance

October 31, 2021 (Unaudited)

Growth of a $10,000 Investment

(at Net Asset Value)

 

ANNUALIZED RETURNS

   

One Year

 

Three Year

 

Five Year

 

Inception to Date(a)

   

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

Amplify Online Retail ETF

 

25.49%

 

25.32%

 

36.53%

 

36.59%

 

32.65%

 

32.54%

 

31.04%

 

31.02%

EQM Online Retail Index

 

26.34%

 

26.34%

 

36.97%

 

36.97%

 

33.11%

 

33.11%

 

31.53%

 

31.53%

S&P 500 Index

 

42.91%

 

42.91%

 

21.48%

 

21.48%

 

18.93%

 

18.93%

 

17.44%

 

17.44%

(a)        Fund commenced operations on April 19, 2016.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

4

Amplify ETF Trust

Amplify CWP Enhanced Dividend Income ETF

Fund Performance

October 31, 2021 (Unaudited)

Growth of a $10,000 Investment

(at Net Asset Value)

 

ANNUALIZED RETURNS

   

One Year

 

Three Year

 

Inception to Date(a)

   

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

Amplify CWP Enhanced Dividend Income ETF

 

33.81%

 

33.59%

 

16.31%

 

16.30%

 

14.62%

 

14.63%

Cboe S&P 500 BuyWrite Index

 

31.54%

 

31.54%

 

  7.75%

 

  7.75%

 

  7.41%

 

  7.41%

Dow Jones Industrial Average

 

35.16%

 

35.16%

 

12.56%

 

12.56%

 

12.78%

 

12.78%

(a)        Fund commenced operations on December 13, 2016.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

5

Amplify ETF Trust

Amplify Transformational Data Sharing ETF

Fund Performance

October 31, 2021 (Unaudited)

Growth of a $10,000 Investment

(at Net Asset Value)

 

ANNUALIZED RETURNS

   

One Year

 

Three Year

 

Inception to Date(a)

   

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

Amplify Transformational Data Sharing ETF

 

127.54%

 

127.14%

 

49.52%

 

49.58%

 

32.65%

 

32.68%

MSCI AC World Index Net

 

  37.28%

 

  37.28%

 

17.47%

 

17.47%

 

11.18%

 

11.18%

S&P 500 Index

 

  42.91%

 

  42.91%

 

21.48%

 

21.48%

 

16.38%

 

16.38%

(a)        Fund commenced operations on January 16, 2018.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

6

Amplify ETF Trust

Amplify Lithium & Battery Technology ETF

Fund Performance

October 31, 2021 (Unaudited)

Growth of a $10,000 Investment

(at Net Asset Value)

 

ANNUALIZED RETURNS

   

One Year

 

Three Year

 

Inception to Date(a)

   

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

Amplify Lithium & Battery Technology ETF

 

81.32%

 

81.13%

 

16.70%

 

16.76%

 

    0.67%

 

   0.75%

EQM Lithium & Battery Technology Index(b)

 

82.78%

 

82.78%

 

N/A

 

N/A

 

  73.89%(c)

 

  73.89%(c)

MSCI AC World Index Metals & Mining Net Index

 

36.22%

 

36.22%

 

17.67%

 

17.67%

 

   10.27%

 

 10.27%

S&P 500 Index

 

42.91%

 

42.91%

 

21.48%

 

21.48%

 

   18.48%

 

 18.48%

(a)        Fund commenced operations on June 4, 2018.

(b)        On October 14, 2020, the Fund ceased being an actively-managed fund and began following the EQM Lithium & Battery Technology Index. Therefore, the Fund’s performance and historical returns shown for the periods prior to October 14, 2020 are not necessarily indicative of the performance that the Fund, based on its current index and investment objective, would have generated. Performance data is not available for all the periods shown in the table for the Index because performance data does not exist for some of the entire periods.

(c)        This figure represents performance of the EQM Lithium & Battery Technology Index after the change in the index strategy utilized by the Fund beginning on October 14, 2020, and not since inception. The Net Asset Value return for the period beginning on October 14, 2020 was 72.75%.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

7

Amplify ETF Trust

Amplify BlackSwan Growth & Treasury Core ETF

Fund Performance

October 31, 2021 (Unaudited)

Growth of a $10,000 Investment

(at Net Asset Value)

 

ANNUALIZED RETURNS

   

One Year

 

Inception to Date(a)

   

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

Amplify BlackSwan Growth & Treasury Core ETF

 

17.44%

 

17.64%

 

14.93%

 

14.92%

S-Network BlackSwan Core Total Return Index

 

18.20%

 

18.20%

 

15.96%

 

15.96%

S&P 500 Index

 

42.91%

 

42.91%

 

21.18%

 

21.18%

(a)        Fund commenced operations on November 5, 2018.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

8

Amplify ETF Trust

Amplify International Online Retail ETF

Fund Performance

October 31, 2021 (Unaudited)

Growth of a $10,000 Investment

(at Net Asset Value)

 

ANNUALIZED RETURNS

   

One Year

 

Inception to Date(a)

   

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

Amplify International Online Retail ETF

 

  4.68%

 

  4.60%

 

22.35%

 

22.39%

EQM International Ecommerce Index

 

  4.99%

 

  4.99%

 

23.17%

 

23.17%

S&P 500 Index

 

42.91%

 

42.91%

 

24.59%

 

24.59%

(a)        Fund commenced operations on January 29, 2019.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

9

Amplify ETF Trust

Amplify Seymour Cannabis ETF

Fund Performance

October 31, 2021 (Unaudited)

Growth of a $10,000 Investment

(at Net Asset Value)

 

ANNUALIZED RETURNS

   

One Year

 

Inception to Date(a)

   

Net Asset
Value

 

Market
Price

 

Net Asset
Value

 

Market
Price

Amplify Seymour Cannabis ETF

 

47.93%

 

46.81%

 

-13.89%

 

-13.92%

S&P 500 Index

 

42.91%

 

42.91%

 

23.06%

 

23.06%

(a)        Fund commenced operations on July 22, 2019.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

10

Amplify ETF Trust

Amplify Pure Junior Gold Miners ETF

Fund Performance

October 31, 2021 (Unaudited)

Growth of a $10,000 Investment

(at Net Asset Value)

 

TOTAL RETURN FOR THE PERIOD
ENDED OCTOBER 31, 2021

   

Inception to Date(a)

   

Net Asset
Value

 

Market
Price

Amplify Pure Junior Gold Miners ETF

 

-6.31%

 

-6.08%

EQM Pure Junior Gold Miners Index

 

-5.63%

 

-5.63%

S&P 500 Index

 

  28.81%

 

  28.81%

(a)        Fund commenced operations on Novemer 30, 2020.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

11

Amplify ETF Trust

Amplify BlackSwan ISWN ETF

Fund Performance

October 31, 2021 (Unaudited)

Growth of a $10,000 Investment

(at Net Asset Value)

 

TOTAL RETURN FOR THE PERIOD ENDED OCTOBER 31, 2021

   

Inception to Date(a)

   

Net Asset
Value

 

Market
Price

Amplify BlackSwan ISWN ETF

 

  2.23%

 

  2.12%

S-Network BlackSwan International Index

 

  2.57%

 

  2.57%

MSCI EAFE Net Index

 

  8.97%

 

  8.97%

(a)        Fund commenced operations on January 25, 2021.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

12

Amplify ETF Trust

Amplify Cleaner Living ETF

Fund Performance

October 31, 2021 (Unaudited)

Growth of a $10,000 Investment

(at Net Asset Value)

 

TOTAL RETURN FOR THE PERIOD ENDED OCTOBER 31, 2021

   

Inception to Date(a)

   

Net Asset
Value

 

Market
Price

Amplify Cleaner Living ETF

 

-3.54%

 

-3.25%

Tematica BITA Cleaner Living Index

 

-3.38%

 

-3.38%

S&P 500 Index

 

9.07%

 

9.07%

(a)        Fund commenced operations on June 23, 2021.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

13

Amplify ETF Trust

Amplify Thematic All-Stars ETF

Fund Performance

October 31, 2021 (Unaudited)

Growth of a $10,000 Investment

(at Net Asset Value)

 

TOTAL RETURN FOR THE PERIOD ENDED OCTOBER 31, 2021

   

Inception to Date(a)

   

Net Asset
Value

 

Market
Price

Amplify Thematic All-Stars ETF

 

12.85%

 

13.16%

ETF All-Stars Thematic Composite Index

 

13.21%

 

13.21%

S&P 500 Index

 

  6.92%

 

  6.92%

(a)        Fund commenced operations on July 20, 2021.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

14

Amplify ETF Trust

Amplify Digital & Online Trading ETF

Fund Performance

October 31, 2021 (Unaudited)

Growth of a $10,000 Investment

(at Net Asset Value)

 

TOTAL RETURN FOR THE PERIOD ENDED OCTOBER 31, 2021

   

Inception to Date(a)

   

Net Asset
Value

 

Market
Price

Amplify Digital & Online Trading ETF

 

5.97%

 

6.17%

BlueStar® Global E-Brokers and Digital Capital Markets Index

 

6.02%

 

6.02%

S&P 500 Index

 

5.89%

 

5.89%

(a)        Fund commenced operations on September 21, 2021.

The performance data quoted herein represents past performance and the return and value of an investment in the Fund will fluctuate so that shares, when redeemed or sold in the market, may be worth more or less than their original cost. Past performance is no guarantee of future performance and should not be considered as a representation of the future results of the Fund. The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Index returns assume reinvestment of dividends and, unlike a Fund’s returns, do not reflect any fees or expenses. If such fees and expenses were included in the index returns, the performance would have been lower. Please note that one cannot invest directly in an unmanaged index.

There are no assurances that the Fund will meet its stated objectives.

The Fund’s holdings and allocations are subject to change and should not be considered recommendations to buy individual securities.

Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

15

Amplify ETF Trust

Amplify High Income ETF

Schedule of Investments

October 31, 2021

Description

 

Shares

 

Value

INVESTMENT COMPANIES — 99.7%

     

 

 

Equity — 9.3%

     

 

 

Aberdeen Total Dynamic
Dividend Fund

 

1,237,101

 

$

12,432,865

BlackRock Enhanced Equity
Dividend Trust

 

669,182

 

 

6,905,958

BlackRock Enhanced Global Dividend Trust(a)

 

287,642

 

 

3,500,603

John Hancock Tax-Advantaged Dividend Income Fund

 

172,217

 

 

4,224,483

Liberty All-Star Equity Fund(a)

 

1,723,776

 

 

14,531,432

       

 

41,595,341

Fixed Income — 90.4%

     

 

 

AllianceBernstein Global High Income Fund, Inc.

 

1,043,268

 

 

12,978,254

BlackRock Corporate High Yield Fund, Inc.

 

705,748

 

 

8,588,953

BlackRock Credit Allocation Income Trust

 

869,615

 

 

13,244,236

BlackRock Debt Strategies Fund, Inc.

 

173,390

 

 

2,035,599

BlackRock Taxable Municipal
Bond Trust

 

182,562

 

 

4,772,171

Blackstone Strategic Credit Fund

 

921,529

 

 

12,855,330

Calamos Global Dynamic
Income Fund

 

297,623

 

 

3,092,303

DoubleLine Income Solutions Fund

 

737,425

 

 

13,022,925

DoubleLine Yield Opportunities Fund

 

665,199

 

 

12,931,469

Eaton Vance Floating-Rate Income
Trust(a)

 

676,784

 

 

10,144,992

Eaton Vance Limited Duration Income Fund

 

1,001,721

 

 

13,222,717

Eaton Vance Senior Floating - Rate Trust(a)

 

808,551

 

 

12,047,410

First Trust High Income Long/Short Fund

 

759,159

 

 

12,184,502

First Trust High Yield Opportunities 2027 Term Fund

 

644,369

 

 

13,493,087

First Trust Intermediate Duration Preferred & Income Fund(a)

 

134,374

 

 

3,423,850

Flaherty & Crumrine Preferred and Income Securities Fund, Inc.

 

115,102

 

 

2,587,493

Description

 

Shares

 

Value

Highland Income Fund

 

970,242

 

$

11,051,056

NexPoint Strategic Opportunities Fund

 

520,844

 

 

7,911,620

Nuveen AMT-Free Quality Municipal Income Fund

 

451,679

 

 

6,856,487

Nuveen Core Plus Impact Fund(a)

 

674,781

 

 

12,490,196

Nuveen Credit Strategies Income Fund

 

917,136

 

 

6,043,926

Nuveen Floating Rate Income Fund

 

1,302,338

 

 

13,335,941

Nuveen Municipal Credit Opportunities Fund

 

382,066

 

 

5,746,273

Nuveen Preferred & Income Opportunities Fund

 

516,669

 

 

5,156,357

Nuveen Preferred & Income Securities Fund

 

783,150

 

 

7,784,511

Nuveen Quality Municipal
Income Fund

 

334,947

 

 

5,235,222

Oxford Lane Capital Corp.

 

2,080,916

 

 

16,647,328

PGIM Global High Yield Fund, Inc.

 

811,915

 

 

12,730,827

PGIM High Yield Bond Fund, Inc.(a)

 

790,650

 

 

13,037,818

PIMCO Corporate & Income Opportunity Fund

 

782,533

 

 

14,187,323

PIMCO Dynamic Credit and Mortgage Income Fund

 

663,575

 

 

14,266,863

PIMCO Dynamic Income Fund

 

516,683

 

 

13,841,938

PIMCO Dynamic Income Opportunities Fund

 

443,555

 

 

9,217,073

PIMCO High Income Fund

 

1,388,671

 

 

8,915,268

PIMCO Income Strategy Fund II

 

1,010,018

 

 

10,191,082

Templeton Global Income Fund

 

2,337,933

 

 

12,765,114

Virtus AllianzGI Convertible & Income Fund

 

2,162,960

 

 

13,605,018

Wells Fargo Income Opportunities
Fund

 

1,476,453

 

 

13,214,254

Western Asset Emerging Markets Debt Fund, Inc.

 

815,698

 

 

11,142,435

Western Asset High Income Opportunity Fund, Inc.

 

1,883,211

 

 

9,830,361

       

 

405,829,582

Total Investment Companies
(Cost $
432,854,808)

     

 

447,424,923

       

 

 

RIGHTS — 0.0%(b)

     

 

 

Liberty All-Star Equity Fund(a)(c)

 

1,671,456

 

 

61,510

Total Rights
(Cost $0)

     

 

61,510

       

 

 

MONEY MARKET FUNDS — 0.1%

     

 

 

Invesco Government & Agency Portfolio - Institutional
Class — 0.03%(d)

 

479,599

 

 

479,599

Total Money Market Funds
(Cost $479,599)

     

 

479,599

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

16

Amplify ETF Trust

Amplify High Income ETF

Schedule of Investments

October 31, 2021 (Continued)

Description

 

Shares

 

Value

INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING — 3.8%

     

 

 

First American Government Obligations Fund - Class X — 0.03%(d)

 

17,004,950

 

$

17,004,950

Total Investments Purchased with Proceeds from Securities Lending
(Cost $17,004,950)

     

 

17,004,950

       

 

 

Total Investments — 103.6%

     

 

 

(Cost $450,339,357)

     

$

464,970,982

Percentages are based on Net Assets of $448,970,862.

(a)   All or a portion of this security is out on loan as of October 31, 2021. Total value of securities out on loan is $16,328,804 or 3.6% of net assets.

(b)  Less than 0.05%.

(c)   Illiquid security. At October 31, 2021, the value of these securities amounted to $61,510 or 0.0% of net assets.

(d)  Seven-day yield as of October 31, 2021.

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

17

Amplify ETF Trust

Amplify Online Retail ETF

Schedule of Investments

October 31, 2021

Description

 

Shares

 

Value

COMMON STOCKS — 99.7%

     

 

 

Marketplace — 37.2%

     

 

 

Alibaba Group Holding Ltd. - ADR(a)

 

35,159

 

$

5,799,125

BigCommerce Holdings, Inc.(a)

 

370,291

 

 

17,111,147

ContextLogic, Inc. - Class A(a)(b)

 

1,761,419

 

 

8,983,237

Copart, Inc.(a)

 

138,924

 

 

21,573,508

Coupang, Inc.(a)

 

202,167

 

 

6,016,490

Dada Nexus Ltd. - ADR(a)

 

335,218

 

 

6,808,278

Delivery Hero SE (a)(c)

 

57,897

 

 

7,198,223

DoorDash, Inc. - Class A(a)

 

122,242

 

 

23,812,742

Etsy, Inc.(a)

 

105,726

 

 

26,504,451

Fiverr International Ltd. - ADR(a)

 

43,405

 

 

7,394,042

Groupon, Inc. (a)(b)

 

372,929

 

 

7,913,553

Jumia Technologies AG - ADR(a)(b)

 

283,483

 

 

4,952,448

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

 

281,394

 

 

20,207,150

KE Holdings, Inc. - ADR(a)

 

147,296

 

 

2,683,733

Liquidity Services, Inc.(a)

 

634,218

 

 

14,003,533

Lyft, Inc. - Class A(a)

 

347,322

 

 

15,931,660

MercadoLibre, Inc.(a)

 

5,569

 

 

8,247,800

Ozon Holdings PLC - ADR(a)(b)

 

131,914

 

 

5,936,130

PayPal Holdings, Inc.(a)

 

70,017

 

 

16,285,254

Pinduoduo, Inc. - ADR(a)

 

62,240

 

 

5,534,381

Poshmark, Inc. - Class A(a)(b)

 

471,418

 

 

11,469,600

Rakuten Group, Inc.

 

617,800

 

 

6,775,609

Shopify, Inc. - Class A - ADR(a)

 

6,793

 

 

9,963,497

The RealReal, Inc.(a)

 

1,192,550

 

 

15,538,927

ThredUp, Inc. - Class A(a)(b)

 

949,052

 

 

20,537,485

Uber Technologies, Inc.(a)

 

363,654

 

 

15,935,318

Upwork, Inc.(a)

 

431,219

 

 

20,319,039

       

 

333,436,360

Traditional Retail — 52.5%

     

 

 

1-800-Flowers.com, Inc. - Class A(a)

 

522,082

 

 

16,769,274

Amazon.com, Inc.(a)

 

5,350

 

 

18,042,500

AO World PLC(a)

 

2,056,845

 

 

4,118,194

ASKUL Corp.

 

444,000

 

 

6,022,584

ASOS PLC(a)

 

105,331

 

 

3,577,823

CarParts.com, Inc.(a)

 

1,133,004

 

 

17,255,651

Carvana Co.(a)

 

72,599

 

 

22,010,565

Description

 

Shares

 

Value

Casper Sleep, Inc.(a)(b)

 

1,811,371

 

$

6,593,390

Chegg, Inc.(a)

 

222,939

 

 

13,251,494

Chewy, Inc. - Class A(a)(b)

 

254,528

 

 

19,293,222

Cimpress PLC - ADR(a)

 

70,659

 

 

6,311,262

eBay, Inc.

 

284,866

 

 

21,854,919

Farfetch Ltd. - Class A - ADR(a)

 

175,776

 

 

6,892,177

HelloFresh SE(a)

 

90,492

 

 

7,322,629

IAC/InterActiveCorp(a)

 

110,607

 

 

16,853,189

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

 

573,581

 

 

4,749,251

JD.com, Inc. - ADR(a)

 

108,067

 

 

8,459,485

Lands’ End, Inc.(a)

 

769,151

 

 

20,213,288

MYT Netherlands Parent BV - ADR(a)(b)

 

261,998

 

 

6,916,747

Netflix, Inc.(a)

 

34,956

 

 

24,130,476

Ocado Group PLC(a)

 

262,997

 

 

6,489,443

Overstock.com, Inc.(a)

 

242,400

 

 

23,083,752

Peloton Interactive, Inc. - Class A(a)

 

178,549

 

 

16,326,521

PetMed Express, Inc.(b)

 

611,504

 

 

17,385,059

Purple Innovation, Inc.(a)

 

552,705

 

 

10,667,206

Qurate Retail, Inc. - Class A

 

1,306,382

 

 

13,638,628

Revolve Group, Inc.(a)

 

365,190

 

 

27,403,858

Shutterstock, Inc.

 

197,523

 

 

23,929,911

Spotify Technology SA - ADR(a)

 

32,940

 

 

9,532,836

Stitch Fix, Inc. - Class A(a)

 

400,470

 

 

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