The YieldShares High Income ETF has converted to the Amplify ETF Trust from the Exchange Traded Concepts Trust, effective Monday, 7 October.Since 2016, Amplify ETFs has been servicing, marketing and supporting the product as a Sub-Adviser; Amplify is now Adviser to the Fund.
Additionally, the Fund’s new name is the Amplify High Income ETF. The Fund maintains the same ticker (YYY), investment objective, selection criteria, management fee and underlying index.
“Given the success of YYY, we are thrilled to have the Fund formally become a part of the Amplify ETF Trust,” says Christian Magoon, CEO and founder of Amplify ETFs, and founder of YieldShares LLC. “As an income-oriented product, YYY is a great complement to our thematic ETF lineup. This move is a seamless transition for clients and we look forward to continuing to provide the value that YYY has delivered to shareholders over the years.”
YYY is a portfolio of 30 closed-end funds (CEFs) based on a rules-based index. The ISE High Income Index selects CEFs ranked highest overall by ISE in the following factors: Yield, Discount to Net Asset Value (NAV), and Liquidity. This investment approach results in a portfolio which contains a variety of asset classes, investment strategies and asset managers, and seeks to provide a high level of income on a monthly basis.
newETFs.io respects the hard work of others and gives all credit to the remarkable folks at ETFexpress.com. This excerpt/article was pulled from their RSS feed; click here to view the original. Please note that on occasion, the RSS feed will not have the author. When this happens this site defaults the author to "News". Make no mistake, this excerpt/article was not created by newETFs.io, it was simply shared with you.
