COWS — Amplify Cash Flow Dividend Leaders ETF
Data updated: 2026-08-28
COWS — Amplify Cash Flow Dividend Leaders ETF. United States Mid Cap Value Equity · $36.07M AUM. Holdings, fees, performance and SEC filings.
COWS Fund Overview
COWS — Amplify Cash Flow Dividend Leaders ETF is a US ETF managed by Amplify ETF Trust, categorised as United States Mid Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: Amplify ETF Trust
- Category: United States Mid Cap Value Equity
- Assets under management: $36.07M
- 1-year return: 25.5%
- Ticker: COWS
- SEC CIK: 0001633061
- SEC series ID: S000080778
- Share class ID: C000243313
COWS Investment Objective and Strategy
Amplify Cash Flow Dividend Leaders ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Amplify ETF Trust.
Investment objective
The Amplify Cash Flow Dividend Leaders ETF seeks investment results that generally track the total return performance (before fees and expenses) of the Kelly US Cash Flow Dividend Leaders Index (the Index).
Principal investment strategy
The Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in securities that comprise the Index, which will primarily include dividend paying U.S. equity securities. The Index is based on a proprietary methodology developed and maintained by Kelly Indexes, LLC (the Index Provider), an affiliate of Kelly Strategic Management, LLC (doing business as Kelly Intelligence), an investment sub -adviser to the Fund (Kelly Intelligence). The investment sub -advisers , Kelly Intelligence and Penserra Capital Management LLC (Penserra, together with Kelly Intelligence, the Sub -Advisers ) manage the investment of the Funds assets under the direction of Amplify Investments LLC (the Adviser). The Fund will generally use a replication strategy to achieve its investment objective, meaning the Fund will generally invest in all of the component securities of the Index.
However, the Fund may use a representative sampling strategy, meaning it may invest in a sample of the securities in the Index whose risk, return, and other characteristics closely resemble the risk, return, and other characteristics of the Index as a whole, when the Funds portfolio managers believe it is in the best interests of the Fund ( e.g., when replicating the Index involves practical difficulties or substantial costs, an Index constituent becomes temporarily illiquid, unavailable or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not to the Index). The Index. The Index uses an objective, rules -based methodology that comprises of at least 40 and up to 50 mid- to large -capitalization publicly traded equity securities of US companies exhibiting characteristics of high free cash flow and consistent dividend growth.
A companys free cash flow or FCF measures its cash flow from operations minus capital expenditures. Index Methodology. The initial index universe is comprised of companies included in the Syntax US 1000 Index, excluding its 200 smallest companies as ranked by float -adjusted market capitalization. The Syntax US 1000 Index is a broad -based US equity index that tracks the top 1000 companies within the Syntax US 3000 Index, excluding companies in the financials sector, as determined by Syntax LLC. The Syntax US 3000 Index is an index of the 3000 largest and most liquid mid -capitalization (generally defined as a company with a market value between $2 billion and $10 billion) and large -capitalization (generally defined as a company with a market value of over $10 billion) US listed publicly traded companies, as ranked by the total market value of each companys shares that are available for public trading ( i.e.
its free float -adjusted market capitalization). To be considered a candidate from the initial universe that is eligible for the Index ranking process, companies must have at least a three month $3 million average daily trading value (ADTV) based on at least one month of trading history,), have at least one dividend declared and became payable to shareholders during the past 12 months, have a positive Trailing FCF Yield (defined as trailing -12-month free cash flow divided by enterprise value) and positive Forward FCF Yield (defined as estimated forward -year free cash flow per share divided by share price) and a positive Consensus Estimate (defined as the average consensus forward year FCFs and earnings estimates for such candidate, as determined by an average of publicly available forecasts made by industry analysts.
Companies with no forward year estimates available for FCFs or earnings or negative average projected FCFs or earnings are removed from the Index. The remaining securities are ranked in descending order separately by Trailing FCF Yield and Forward FCF Yield. For each candidate, an FCF Yield Rank is created by averaging a candidates Trailing FCF Yield rank and Forward FCF Yield rank. From the eligible candidates, the top 200 securities with the highest FCF Yield Rank will be selected. A candidates Consensus Estimate will be used as a ranking tiebreaker, if necessary. Once selected the securities are then screened based on the following criteria: A security with an indicated dividend yield within the top 10% of the universe is excluded, as defined by the above criteria. Indicated dividend yield is calculated by taking the product of the most recent dividend per share paid and the announced frequency divided by the current price.
A security must have a positive consensus earnings forecast and a payout ratio less than 75%. Payout ratio is forward -looking and calculated by dividing the forward 12 -month indicated dividend by the forward 12 -month consensus earnings per share forecast. A security must be currently paying dividends, have grown its trailing 12 -month dividends for three consecutive years and have grown one or both of its trailing 12 -month dividends and indicated dividend yield compared to the previous quarter. The dividend growth condition is considered met if either the current annualized dividend rate or the trailing 12 -month aggregated dividend increased from the previous to the current Index reconstitution date; provided, however, that if a current Index constituent fails to raise its dividend but does not decrease its dividend and executes share repurchases in the preceding 12 months, resulting in a net decrease in its shares outstanding, the constituent will remain in the Index.
The minimum amount of constituents is 40. The eligible securities that meet the above criteria are selected in order of their FCF Yield Rank until either 40 securities are selected, or all of the isolated securities are selected. Each security selected pursuant to the previous sentence is initially given a 2.5% position weighting in the Index. If less than 40 securities are selected, then isolate the remaining Eligible Candidates within the top 200 by FCF Yield Rank that meet the quarterly growth criterion above, and select them as Constituents in order of their FCF Yield Ranks until either 50 Constituents are selected, or all those isolated are selected.. If less than 50 securities are selected after completing the foregoing, then securities are selected from the remaining eligible securities in order of their FCF Yield Rank until 50 securities are selected.
Each security selected pursuant to the previous two sentences is initially weighted relative to one another by Composite FCF Yield (defined as the average of Trailing FCF Yield and Forward FCF Yield), subject to an initial maximum Index weight of 2%. The final Index weight of each industry represented in the Index is capped at 24%, which may modify the final Index weights of the individual constituents. The Index is reconstituted and rebalanced quarterly, after the close of business on the third Friday of each March, June, September and December. For each rebalance and reconstitution of the Index, Index constituents are determined based on data as of the last business day in each of February, May August and November. As of September 30, 2025, the Index consisted of 52] securities and had significant exposure to the consumer discretionary, industrials and energy sectors.
Concentration and Diversification Status. The Fund is classified as non -diversified under the 1940 Act. The Fund will not concentrate its investments ( i.e. , invest more than 25% of the value of its total assets) in securities of issuers in any industry or group of identified industries, except to the extent the Index concentrates in an industry or group of identified industries.
COWS Holdings
Top 10 holdings of Amplify Cash Flow Dividend Leaders ETF by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Owens Corning | 4.02% |
| Oshkosh Corp | 3.52% |
| Crown Holdings Inc | 3.41% |
| Williams-Sonoma Inc | 3.28% |
| Booking Holdings Inc | 3.23% |
| Pentair PLC | 3.13% |
| Tetra Tech Inc | 3.10% |
| Avery Dennison Corp | 3.03% |
| Aecom | 2.96% |
| Roper Technologies Inc | 2.95% |
COWS Portfolio Allocation
Asset-class allocation of Amplify Cash Flow Dividend Leaders ETF by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.1% |
| Cash & Equivalents | 0.9% |
COWS Performance
Total returns for COWS (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 9.2% |
| 1 year | 25.5% |
| 3 years (annualised) | 15.5% |
COWS Risk Information
Risk metrics for COWS, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 10.2%
COWS Costs and Fees
COWS costs about $19 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.19%
- Gross expense ratio: 0.39%
- Portfolio turnover: 165%
- Brokerage commissions: 5.48 bps of average net assets (SEC N-CEN)
COWS Cashflows
Over the 12 months to 2026-06, Amplify Cash Flow Dividend Leaders ETF had net inflows of $9.70M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $2.21M |
| 2026-05 | $0 |
| 2026-04 | $684.20K |
| 2026-03 | $343.17K |
| 2026-02 | −$2.37M |
| 2026-01 | $8.11M |
COWS Debt Constituents
No individual debt constituents are reported in Amplify Cash Flow Dividend Leaders ETF's latest SEC N-PORT filing.
COWS Prospectus and SEC Filings
Official Amplify Cash Flow Dividend Leaders ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-01-28
- Prospectus (485BPOS) — filed 2025-01-28
- Prospectus supplement (497) — filed 2025-09-09
- Portfolio holdings (N-PORT) — filed 2026-08-28
- Portfolio holdings (N-PORT) — filed 2026-05-27
- Portfolio holdings (N-PORT) — filed 2026-02-25
- Annual census (N-CEN) — filed 2024-12-11
- Annual census (N-CEN) — filed 2024-01-12
Related Funds
Other United States Mid Cap Value Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.