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DIVO
Amplify CPW Enhanced Dividend Income ETF
Amplify Investments LLC
Verdict
Weighted score · Pro 🔒
Fund Identity
What it is, who runs it, where it lives.
The Amplify CWP Enhanced Dividend Income ETF seeks to provide a high level of risk-adjusted total return through a combination of current income and capital appreciation..
The Fund invests at least 80% of its net assets in dividend-paying U.S. exchange-traded equity securities, constructing a concentrated portfolio of approximately 20-25 high-quality large-cap S&P 500 stocks diversified across sectors. CWP actively manages sector allocation and screens for companies with histories of increasing dividends and strong fundamentals. The Fund opportunistically writes (sells) U.S. exchange-traded covered call options on portfolio holdings to generate additional income of approximately 2-4% from option premiums, targeting total gross income of approximately 4-7% plus potential capital appreciation. Unlike a systematic covered call program, call options are sold tactically rather than continuously across all positions.
Ticker
DIVO
Issuer
Amplify Investments LLC
Exchange
ARCX
Inception
2016-12-14 · 9.7 yrs
Mgmt style
Active
Replication
Physical (full replication) with covered call overlay on individual equity holdings
Index-based
—
Leverage
None
Strategy & Options Mechanics
How the portfolio is built and where the income comes from.
PORTFOLIO
Hybrid
actively managed
OPTIONS OVERLAY
Strategy
Covered Calls (tactically written on some or all portfolio equity positions)
generates income
Underlying
Individual stocks held in the portfolio
income exposure
MONTHLY
6.2%
DIST. RATE
— ROC
Ordinary Income
Ordinary Income
Underlying
Individual stocks held in the portfolio
Strategy
Covered Calls (tactically written on some or all portfolio equity positions)
Tax
Ordinary Income
CWP opportunistically writes short-term U.S. exchange-traded covered call options on individual portfolio equity securities to generate premium income of approximately 2-4% annually. Unlike a systematic covered call program, CWP is not obligated to continuously cover each position and sells options tactically when underlying stocks show strength or elevated implied volatility. The Fund targets total gross income of approximately 4-7% combining dividend income (2-3%) and option premium income (2-4%).
Performance & NAV
Total return vs. the underlying, with drawdown context.
NAV HISTORY · AUG '25 – AUG '26
AUG '25AUG '26
Flat-NAV reinvestment hurdle
0.0%
Share of each distribution you’d need to reinvest just to hold NAV flat. 0% — the fund is covering its payout without eroding NAV.
Distribution & Tax
Where the yield comes from — and how it’s taxed.
Composition · Recent Distribution
—
ROC
Frequency
Monthly
Dist. rate
6.17%
ROC %
—
30-day SEC
not reported
Consistency
5 w/o cut
YOC · 1yr-ago buyer
6.9%
Tax Treatment — Ordinary Income
ORDINARY INCOME
Distribution Composition (Recent)
ROC is not free money — it lowers your cost basis. When shares are sold, capital gains are computed against the lower basis.
Composition · Narrative
Distributions are generally taxable as ordinary income or capital gains. The Fund targets gross income from dividends (approximately 2-3%) and option premiums (approximately 2-4%). After-tax returns on distributions are meaningfully lower than pre-tax returns, suggesting distributions include ordinary income components from option premiums and dividends.
Distribution & Return of Capital
Per-month payout split and the running return-of-capital share · last 24 months.
DIST ($/sh)ROC %
Return of capital ($/sh)
Net investment income ($/sh)
Monthly ROC %
Calendar-year ROC (YTD est.)
Distribution Growth & Schedule
Per-period growth of the payout, the latest schedule, and how long distributions take to repay NAV.
Distribution Growth by Lookback Period
Latest Distribution Schedule
Record date
2026-07-30
Ex-dividend
2026-07-30
Pay date
—
Payback Period
16.2 yr
Dist. Since Incep.
$15.6
Holdings & Concentration
Position sizing, top-name weights, and concentration risk.
Sector Mix · Tilt vs S&P 500
No sector feed for this fund.
Holdings
27
Top-10 Wt.
—
Technical Signal & Liquidity
Moving-average posture and a read on tradability.
Price vs. Moving Averages
$48.4$45.0$41.6$38.1
AUG '25AUG '26
Price $48.41
50-DMA $46.53
200-DMA $44.88
Bullish — 50-DMA above 200-DMA
Price $48.41 is above the 200-day SMA ($44.88); 50-day SMA $46.53. The 50-day SMA sits above the 200-day — an established uptrend, no recent crossover. Moving-average signals are a timing aid, not a recommendation — weigh them against the distribution profile and framework score.
Liquidity
Avg daily volume
749K
Avg dollar volume
$35,291,720
Bid/ask spread
0.18%
Premium/discount
—
Turnover
94%
Estimated bid/ask spread ~0.18% (moderate). Average daily dollar volume ~$35.3M (liquid). This spread is a high-low estimate, not a live quote; the issuer's reported median spread and premium/discount to NAV are shown above when available.
Assets Under Management
Trend: Rising. Source: shares×price (Massive, monthly).
AUM ($)
$7.89B
$7.89B$5.56B$3.24B
JUN '24AUG '26
SOURCES Massive market-data API, SEC EDGAR filings, issuer disclosures.
DIVO · 2026-08-19
Prepared by Streamfolio
Research aid, not investment advice.
Prepared by Streamfolio
Research aid, not investment advice.