Daily ETF Watch: New Retail Fund Debuts

Amplify ETFs launched its first fund, an online retail ETF.

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Reviewed by: Heather Bell
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Edited by: Heather Bell

Amplify ETFs has rolled out its first ETF today. The Amplify Online Retail ETF (IBUY) tracks the EQM Online Retail Index and comes with an expense ratio of 0.65%.

The fund is global in scope and targets listed stocks that have market capitalizations of $300 million or more and a six-month daily average value traded of $2 million or more. From that universe, it selects companies that generate at least 70% of their revenues from transactions in the online retail, online travel or online marketplace spaces.

U.S. companies are assigned a total weighting of 75% during the semiannual index rebalancings, while non-U.S. companies receive a weighting of 25% of the index. Individual companies are equal-weighted within their respective groups.

The prospectus notes that the index included 45 components as of the end of February, and will launch on Nasdaq.

Amplify’s founder, Christian Magoon, previously headed up Claymore Securities and saw the firm through its acquisition by Guggenheim Investments.

Contact Heather Bell at [email protected].

Heather Bell is a former managing editor of etf.com. She has also held editorial positions at Dow Jones Indexes and Lehman Brothers. Bell is a graduate of Dartmouth college and resides in the Denver area with her two dogs.