Amplify COWS Covered Call ETF
$24.29+0.03 (+0.13%)
- Expense ratio
- 0.65%
- Fund size
- $20M
- 1Y return
- +12.2%
- Yield · Last 12 months
- 11.74%
- Holdings
- 39
- Volume · 30D
- 0M sh
- NAV per share
- $24.28
- 52W range
The ETF.net HCOW Grade
Score 64 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.AScore 83Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 87Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 45Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.CScore 40Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 71Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 63Category rank
Our read on HCOW
BMost option-income funds write calls on a broad index. HCOW writes them on cash cows: the free-cash-flow-rich dividend payers inside Amplify's COWS strategy, roughly 80 names, with the premium paid out monthly.
HCOW seeks current income through equity securities held by the COWS ETF together with written covered call options that reference those securities.
Why people hold it
- The call writing sits on top of a screened basket of about 80 cash-flow-focused dividend payers, not a broad market index.amplifyetfs.com
- 0.65% a year, comfortably under the median fee for actively managed option-income ETFs.
- The income plan is written down, not improvised: a stated 10% annual target distribution rate, paid monthly.amplifyetfs.com
- Launched in 2023 and lands in the upper half of a crowded field of active option-income funds on our review.
Worth knowing
- Small and thinly traded, so bid-ask spreads can run wider than the category's household names.
- Covered calls swap away part of any upside in the underlying stocks for premium today. That is the deal.amplifyetfs.com
- Amplify discloses that distributions may include return of capital, meaning part of a payout can be your own principal coming back.amplifyetfs.com
HCOW Holdings
- Stocks
- 39
- 35%
- COWS
Sectors
- Industrials21.4%
- Technology19.9%
- Consumer Discr.18.3%
- Financials15.9%
- Health Care11.0%
- Energy8.7%
- Communication2.6%
- Cons. Staples2.4%
Geography
- United States94.57%
- Ireland5.43%
HCOW Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 18, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | HCOW |
|---|---|
| Year to date | +9.0% |
| 1 month | −4.8% |
| 3 months | +4.4% |
| 1 year | +12.2% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | HCOW |
|---|---|---|
| 2026 YTD | +9.0% | |
| 2025 | +5.7% | |
| 2024 | +7.6% | |
| 2023 | +6.5% |
HCOW in the news
ETF.net Research hasn’t filed on HCOW yet — coverage lands here as it’s written.
HCOW Dividends
- 11.74%
- $2.86
- $0.22 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 28, 2026 | Aug 31, 2026 | $0.22 |
| Jul 30, 2026 | Jul 31, 2026 | $0.25 |
| Jun 29, 2026 | Jun 30, 2026 | $0.24 |
| May 28, 2026 | May 29, 2026 | $0.24 |
| Apr 29, 2026 | Apr 30, 2026 | $0.24 |
| Mar 30, 2026 | Mar 31, 2026 | $0.23 |
| Feb 26, 2026 | Feb 27, 2026 | $0.22 |
| Jan 29, 2026 | Jan 30, 2026 | $0.24 |
| Dec 30, 2025 | Dec 31, 2025 | $0.25 |
| Nov 26, 2025 | Nov 28, 2025 | $0.24 |
| Oct 30, 2025 | Oct 31, 2025 | $0.24 |
| Sep 29, 2025 | Sep 30, 2025 | $0.24 |
HCOW Risk
- 14.4%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.56
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −24.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.74
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HCOW Cost
- The middle half of Active Option Income funds
- Median 0.95%
8 of the 47 Active Option Income funds charge less.