Amplify ETFs has acquired YieldShares, exchange-traded fund sponsor of the YieldShares High Income ETF (YYY).
Following the success of YYY, now with more than USD100 million in assets, Amplify ETFs has filed for two additional YieldShares income-oriented ETFs.
The new ETF filings include the Amplify YieldShares Prime 5 Dividend ETF and Amplify YieldShares CWP Dividend & Option Income ETF, both of which are anticipated to launch later this year.
The suite of YieldShares funds is in addition to Amplify branded products, currently represented by the Amplify Online Retail ETF (IBUY), which was the first ETF launch on the Amplify platform.
“Our long-standing goal has been to assimilate the YieldShares brand into our broader buildout of the Amplify platform. Making YieldShares a wholly-owned subsidiary of Amplify allows the firm to align our product suite with the brands that best represent the underlying strategies,” says Christian Magoon, CEO and founder of Amplify ETFs and founder of YieldShares. “YieldShares will serve as Amplify’s sub-brand of income-oriented investment strategies that are additive to the ETF marketplace.
“Given the record-low interest rate environment and the surge in Baby Boomer retirements, investors continue to seek access to income-focused investments. We see the steady growth of the flagship YieldShares product as confirmation that the market has appetite for new products designed to meet investors’ income objectives.”