EMFQ replaces the Amplify International Online Retail ETF (XBUY)
Amplify ETFs announces its newly appointed fund, the Amplify Emerging Markets FinTech ETF , an index-based ETF investing in emerging market and frontier market companies that derive significant revenue from financial technology (FinTech) and technology-enabled financial applications. EMFQ seeks investment results that generally correspond to the price and yield of the EQM Emerging Markets FinTech Index.
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We believe FinTech is thriving in emerging and frontier markets, disrupting traditional financial service and banking models. Across the financial services industry, FinTech innovations are directly addressing the needs of previously unbanked and underserved populations transitioning to consumer-driven economies. Broader access of financial applications to these populations presents tremendous growth opportunities for the sector.
“The recent growth in FinTech applications is leading to greater investor demand for exposure to financial technology solutions and applications in emerging markets,” said Christian Magoon, CEO of Amplify ETFs. “We believe these markets can nurture these fast-growing Fintech solutions as we transition from a cash-based to a digital world.”
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The Index seeks to measure the performance of equity securities (common stock and depositary receipts) issued by emerging market and frontier market companies that derive at least 50% of their revenue from FinTech. EMFQ will invest at least 80% of its net assets (including investment borrowings) in the securities that compose the Index, which was created and is maintained by EQM Indexes LLC. The Index is comprised of FinTech companies that provide and develop mobile applications, online platforms, enterprise software and/or other technology applications for the following industries or business segments:
- Payments
- Banking
- Lending & Credit
- Insurance
- Investments & Trading
- Digital assets (digital wallets, mining, exchange platforms, etc.)
The announcement of EMFQ is the result of name, fee and strategy changes to the Amplify International Online Retail ETF (XBUY). No action is required by current shareholders as a result of this change. These changes were previously communicated via a supplement to the Fund’s Summary Prospectus, Statutory Prospectus and Statement of Additional Information (“SAI”)
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