Amplify CWP International Enhanced Dividend Income ETF

Amplify CWP International Enhanced Dividend Income ETF (IDVO) is an actively managed fund holding dividend-paying large and mid-size companies outside the US, drawn from the MSCI ACWI ex USA Index. Manager Capital Wealth Planning sells covered calls (trading away some upside for cash) on selected stocks only, rather than the whole portfolio. It yielded 6.15% over the year to October 27, 2026, paid monthly, with a 0.65% expense ratio.

• Over the year to Oct 27, 2026, IDVO returned +13.5%, 2nd of 5 among similar funds.
• Its worst full calendar year was 2024 (+10.1%); its best was 2025 (+36.5%).
• The deepest fall in its price history was 15.5% (Mar 19, 2025 to Apr 8, 2025), recovered by May 13, 2025.

As of Jun 30, 2026, the fund held 53 securities; the ten largest made up 33.44% of assets. It also reported 16.25% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.

• Over the three months to Jun 30, 2026, investors added a net $222.4M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +5.74%, +0.30%, -0.56%.

IDVO does not track an index. Capital Wealth Planning (CWP) builds the portfolio, and Amplify Investments is the adviser. At least 80% of the fund goes into dividend-paying ADRs of large and mid-size companies from the MSCI ACWI ex USA Index. That index has about 2,300 stocks from developed and emerging markets outside the US. CWP looks for high-quality companies with strong fundamentals and a history of raising dividends. It gives more weight to sectors and countries it sees beating the market. No sector or country can be 30% or more of the fund, and no single stock can top 8%. A second sub-adviser, Seymour Asset Management, screens the stocks the fund can choose from. A third, Penserra, handles trading and rebalancing.

The fund then sells short-term covered calls. A covered call gives a buyer the right to buy a stock the fund owns at a set price. The fund collects a fee, called a premium, but gives up any gains above that price. It still bears the full loss if the stock falls. CWP sells calls tactically rather than on every holding. It tends to sell them after a stock has risen or when option prices go up. The prospectus targets roughly 3–4% gross income from dividends plus 2–4% from premiums. As of June 30, 2026, the fund had just two option positions open, on Agnico Eagle Mines and Wheaton Precious Metals.

Trading is heavy: portfolio turnover was 132%. Cash is normally kept at 5% or less.

• IDVO charges 0.65% a year, versus an average of 0.68% for the similar funds below (4th of 5, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $66 in the first year and $810 over 10 years (assuming a 5% annual return).

IDVO's main goal is current income, paid monthly from foreign dividends plus option premiums.

IDVO could serve as an income source within the foreign-stock part of a portfolio. Its trailing yield was 6.15% as of October 27, 2026, paid monthly. Option premiums vary, though, and much of that income may be taxed as ordinary income rather than as qualified dividends. In the SEC's standard $10,000 example, the 0.65% expense ratio works out to $66 after one year and $810 over 10 years.

The track record is short. The fund launched in September 2022, so it missed the 2008 crisis, the 2020 crash and most of the 2022 bear market. Its weakest full calendar year, 2024, was still a 10.1% gain. Its deepest drop was 15.5%, from March 19 to April 8, 2025, and it had recovered by May 13. A longer slump could force someone drawing income to sell shares at low prices. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).