Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
Amplify ETF Trust - Amplify Municipal CEF High Income ETF
$17.24+0.03 (+0.17%)
- 2.78%
- $2M
- 0M sh
- $17.35
- low $16.95high $20.99
The ETF.net YYYM Grade
F
Score 19 out of 100
- 63 of 63
Score 19 of 100 falls in the F band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 19
- This cap took
- −0
- Published Score
- 19
Cost
The fund’s net expense ratio, ranked against its category.F3 out of 100Rank 61 of 63Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F16 out of 100Rank 63 of 63Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C42 out of 100Rank 39 of 63Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D35 out of 100Rank 54 of 63Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D25 out of 100Rank 53 of 63
Our read on YYYM
FAmplify's closed-end-fund playbook, pointed at munis: one ticker holding roughly 30 tax-exempt muni CEFs, screened for yield, discount to NAV, and liquidity. You get other managers' bond books, and their fee stack, in a single trade.
The fund seeks results generally corresponding to the price and yield performance of the Nasdaq Municipal Bond CEF High Income Index. That index selects tax-exempt municipal bond closed-end funds while prioritizing yield, discount to NAV, and liquidity.
Why people hold it
- Does the screening most investors never attempt: a rules-based index ranks municipal closed-end funds on yield, discount to net asset value, and liquidity, then holds about 30 of them.amplifyetfs.com
- Federally tax-advantaged income is the stated design goal, since everything inside is a tax-exempt municipal bond CEF run by an outside manager.blog.amplifyetfs.comamplifyetfs.com
- Discounts are a feature, not an accident: the methodology leans toward CEFs trading below NAV, so a dollar buys more of the underlying bond portfolio than sticker price suggests.amplifyetfs.com
- Not a first attempt. Amplify has run the same discounted-CEF screen in a multi-asset income ETF since 2013; this one narrows the machinery to municipals.blog.amplifyetfs.cometfstrategy.com
Worth knowing
- All-in cost is 2.78% a year against roughly 0.30% for the typical muni fund. In a fund of funds, the underlying CEFs' fees stack on top of the manager's.amplifyetfs.com
- Closed-end funds trade on sentiment as well as bonds, so the discounts this index hunts can widen as easily as they close, adding a layer of price swing over the muni market itself.amplifyetfs.com
- Launched in 2026, small and thinly traded, so there is no long record and execution costs weigh more than in giants like VTEB or MUB.
YYYM Holdings
- Bonds
- 32
- 37%
- KTF
Geography
- United States100.00%
YYYM 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.Not enough history yet.Not enough history yet.Not enough history yet.
YYYM$8,689
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 | YYYM |
|---|---|
| Year to date | — |
| 1 month | −7.2% |
| 3 months | −13.1% |
| 1 year | — |
| 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 | YYYM |
|---|---|---|
| 2026 YTD | −10.9% |
YYYM in the news
YYYM Dividends
- $0.10 per share
- Monthly
Distribution data unavailable.
Distribution history
YYYM Risk
- —
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.
- —
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.
- —
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.
- 0.24
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
YYYM Cost
2.78%
YYYM2.78%
- The middle half of Other Municipal Bond funds
- Median 0.30%
60 of the 63 Other Municipal Bond funds charge less.
Other funds in Other Municipal Bond
- DJTNYJPMorgan New York Tax Free Bond ETFExpense ratio 0.43%1 year return —
- DXMPTVanEck CEF Muni Income ETFExpense ratio 3.40%1 year return −7.3%
- DNMBSimplify National Muni Bond ETFExpense ratio 0.52%1 year return −5.0%
- DFECMFirst Eagle Core Municipal ETFExpense ratio 0.40%1 year return —
- FRTAIRareview Tax Advantaged Income ETFExpense ratio 5.24%1 year return −8.2%