Amplify Municipal CEF High Income ETF

Amplify Municipal CEF High Income ETF is an exchange-traded fund that seeks investment results corresponding to the price and yield performance of the Nasdaq Municipal Bond CEF High Income™ Index. It functions as a fund of funds, investing at least 80% of its net assets in approximately 30 selected U.S.-listed closed-end funds focused on tax-exempt municipal bonds. The index prioritizes high monthly income by selecting underlying funds based on yield, discount to net asset value, and liquidity, categorizing them into Tier 1 and Tier 2 groups using criteria such as net assets, average daily traded value, and expense ratios. Constituents are weighted by a modified fund-yield methodology with maximum weight constraints, and the index is rebalanced semi-annually. This structure provides exposure to professionally managed municipal bond closed-end funds offering tax-advantaged income generally exempt from regular U.S. federal income taxes, while potentially benefiting from capital appreciation through discounts to NAV. The ETF plays a role in the fixed-income segment of the financial markets, appealing to investors seeking high current income from municipal securities.