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Amplify ETFs Launches the Amplify Cash Flow Dividend Leaders ETF (COWS)

CHICAGO, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Amplify ETFs announces the launch of the Amplify Cash Flow Dividend Leaders ETF (NASDAQ: COWS), a strategy-driven ETF investing in U.S. companies with high free cash flow yield and dividend growth aimed to provide long-term capital appreciation and monthly income distributions. The fund seeks investment results that generally correspond to the Kelly U.S. Cash Flow Dividend Leaders Index.

“ETF investors have gravitated towards companies with high free cash flows due to their financial stability. COWS takes this investment strategy one step further by focusing on the dividend-paying companies in this universe which should allow shareholders to receive attractive dividend income,” said Christian Magoon, CEO of Amplify ETFs. “COWS will also have a 0% expense ratio in its first year of operation which we believe adds an important additional consideration for ETF investors.”

High free cash flow is a clear indicator of a company’s financial stability, reinvestment opportunities, dividend payouts or debt paydown. The combination of high free cash flow and uninterrupted dividend growth historically aligns with companies capable of withstanding overall market volatility. Additionally, the strategy provides diversification and risk control, seeking an equal-weight portfolio with an industry exposure cap of 24%.

“We evaluate free cash flow in totality, not only looking at trailing but more importantly, by evaluating future free cash flows, which we believe enhances the dividend screen that is inclusive across all market segments,” said Kevin Kelly, CEO of Kelly Intelligence. “Amplify ETFs is synonymous with innovation making us very excited to partner with them on COWS cutting edge approach.”

The Index uses an objective, rules-based methodology to provide exposure to U.S. companies with both high free cash flow yields and a three-year history of uninterrupted dividend growth. Companies with high free cash flow yields are commonly referred to as “cash cows.” The index will include 40-100 U.S. companies at any given time and rebalance quarterly.

Investors can learn more about COWS at

About Amplify ETFs
Amplify ETFs, sponsored by Amplify Investments, has over $4.4 billion in assets across its suite of ETFs (as of 8/31/2023). Amplify ETFs deliver expanded investment opportunities for investors seeking growth, income, and risk-managed strategies across a range of actively managed and index-based ETFs. To learn more about Amplify ETFs, please visit or call (855) 267-3837.

About Kelly Intelligence
Kelly Intelligence is an SEC registered investment advisor that seeks to bring cutting-edge products with forward-looking exposure. Its growing suite of strategies and indexes provides highly liquid, pure-play access to the best-in-class companies identified in each investment factor, theme, or sector. For more information, visit

Sales Contact:
Amplify ETFs

Media Contacts:
Gregory FCA for Amplify ETFs
Kerry Davis

*The Fund’s investment adviser has agreed to waive the management fees for the Fund until at least July 25, 2024.

Carefully consider the Fund's investment objectives, risks, charges, and expenses before investing. This and other information can be found in the Fund’s statutory and summary prospectuses, which may be obtained at Read the prospectus carefully before investing.

Investing involves risk, including the possible loss of principal. The fund is new with limited operating history. You could lose money by investing in the Fund. Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. There can be no assurance that the Fund's investment objectives will be achieved. Brokerage commissions will reduce returns. Although the Shares are listed for trading on the Exchange, there can be no assurance that an active trading market for the Shares will develop or be maintained.

The value of the Shares will fluctuate with changes in the value of the equity securities in which it invests. Because the Fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund. Diversification does not assure a profit or protect against a loss in a declining market. The Fund is susceptible to operational risks through breaches in cyber security. Small and/or mid-capitalization companies may be more vulnerable to adverse general market or economic developments.

There is no guarantee that a company will pay or continually increase its dividends. The Fund intends to estimate annual income and pay in monthly installments. In doing so, some portion of the distribution could be considered a return of capital for tax purposes.

The Fund employs a “passive management” or indexing investment approach that seeks investment results that correspond (before fees and expenses) generally to the performance of its underlying index. Differences in timing of trades and valuation as well as fees and expenses, may cause the fund to not exactly replicate the index known as tracking error.

Amplify Investments LLC serves as the investment adviser to the Fund. Kelly Strategic Management, LLC and Penserra Capital Management LLC each serve as investment sub-advisers to the Fund.

Amplify ETFs are distributed by Foreside Fund Services, LLC.

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