NYSE’s ETF Leaders: Amplify's Christian Magoon Talks Income

Ampify ETFs’ CEO and co-founder Christian Magoon told NYSE’s Judy Shaw at Exchange 2023 that the company is “really focused on income this year.”

See more: “Amplify’s Thematic ETF Lineup Will Soon Be More Diverse

“I know rates are rising, and people are getting a little bit more in their savings account,” Magoon said. “But there’s so much more you can do on the ETF side to really boost your income for above-average returns over time.”

So, Magoon highlighted two ETFs that offer that income. One, the Amplify International Enhanced Dividend Income ETF (IDVO), is an international fund. According to Magoon, IDVO “not only buys dividend-yielding stocks, but does active covered call writing. So, you get dividend income plus option income.”

“Many investors are looking at international because it outperformed the S&P last year, that’s outperforming the S&P this year,” he said.

The fund yielded “about 6% paid on a monthly basis” at the time of the interview (February 2022).

Meanwhile, for investors who want to go after the yield, there’s the Amplify High Income ETF (YYY). YYY is made up of about 45 discounted closed-end funds, yielding just over 11% at the time of the interview.

“You’re buying closed-end funds trading at a discount to NAV, which are income oriented,” Magoon said. “You’re getting a little bit more bang for your buck and that produces that outsized income.”

So, with YYY, investors can get “high income with maybe a little bit more volatility,” while getting “lower income … but in high quality international names.”

“So, kind of a barbell strategy,” Magoon said.

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