Amplify COWS Covered Call ETF
$24.40+0.07 (+0.30%)
- 0.65%
- $17M
- +18.8%
- 11.60%
- 0M sh
- $24.23
- low $22.66high $26.53
The ETF.net HCOW Grade
B
Score 61 out of 100
- 14 of 51
Score 61 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.A83 out of 100Rank 9 of 51Mission
Whether the fund did what it promised, tested against its stated mandate.A88 out of 100Rank 1 of 3Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C43 out of 100Rank 28 of 46Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D38 out of 100Rank 33 of 51Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B64 out of 100Rank 16 of 42Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B60 out of 100Rank 19 of 51
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
- 32
- 42%
- COWS
Sectors
- Technology24.6%
- Energy23.6%
- Financials16.4%
- Industrials14.4%
- Consumer Discretionary12.7%
- Health Care4.1%
- Materials3.9%
- Consumer Staples0.1%
- Communication0.1%
Geography
- United States95.87%
- Ireland4.13%
HCOW Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
HCOW$11,878
Returns run to the Oct 12, 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 | +9.7% |
| 1 month | −1.6% |
| 3 months | +3.8% |
| 1 year | +18.8% |
| 3 years | +10.8% |
| 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 | +9.7% | |
| 2025 | +5.7% | |
| 2024 | +7.6% | |
| 2023 | +6.5% |
HCOW in the news
Category Review
The payout and the result came apart in option-income funds
HCOW Dividends
- 11.60%
- $2.82
- $0.20 per share
- Monthly
Distribution history
HCOW Risk
- 15.2%
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.
- 0.32
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.
- 0.76
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
0.65%
HCOW0.65%
- The middle half of Active Option Income funds
- Median 0.95%
8 of the 51 Active Option Income funds charge less.
Other funds in Active Option Income
- BPAYRFederated Hermes ETF Trust - Federated Hermes Enhanced Income ETFExpense ratio 0.74%1 year return +16.8%
- BCTIFEA Series Trust - Castellan Targeted Income ETFExpense ratio 0.45%1 year return +10.0%
- BEDGEEA Series Trust - MRBL Enhanced Equity ETFExpense ratio 0.74%1 year return +24.7%
- BYLDWWestwood Enhanced Income Opportunity ETFExpense ratio 0.79%1 year return —
- BGINXSGI Enhanced Global Income ETFExpense ratio 0.99%1 year return +26.0%