ETF Evaluator:
Amplify Digital Payments ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Miscellaneous Sector Over the Last Year
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Risk
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Risk
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ETF Details
Amplify Digital Payments ETF Overview
Amplify Digital Payments ETF (IPAY) is a passively managed Sector Equity Miscellaneous Sector exchange-traded fund (ETF). Amplify ETFs launched the ETF in 2015.
The investment seeks investment results that generally correlate (before fees and expenses) to the total return performance of the Nasdaq CTA Global Digital Payments Index.
The index tracks the performance of common stocks (or corresponding American Depositary Receipts (“ADRs”) or Global Depositary Receipts (“GDRs”)) of Mobile Payments Companies. Under normal circumstances, the fund invests at least 80% of its net assets (plus borrowings for investment purposes) in Mobile Payments Companies. The fund is non-diversified.
About Amplify Digital Payments ETF (IPAY)
There are 3 members of the management team with an average tenure of 2.34 years: Dustin Lewellyn (2024), Ernesto Tong (2024) and Christine Johanson (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Nasdaq CTA Glb Digital Payments TR USD index with a weighting of 100%. Amplify Digital Payments ETF has 44 securities in its portfolio. The top 10 holdings constitute 55.3% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Amplify Digital Payments ETF is part of the Equity global asset class and is within the Sector Equity ETF group. Amplify Digital Payments ETF has 18.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 81.6% There is 18.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Amplify Digital Payments ETF has 0.4% of the portfolio in cash.
Assets Under Management
The fund has $179 million in total assets, which is below the $294 million average for the Miscellaneous Sector category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
IPAY Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Amplify Digital Payments ETF expense ratio is above average compared to funds in the Miscellaneous Sector category. Amplify Digital Payments ETF has an expense ratio of 0.75%, which is 3% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Amplify Digital Payments ETF has a portfolio turnover rate of 29%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 45% for the Miscellaneous Sector category.
Recently, in the month of July 2026, Amplify Digital Payments ETF returned 8.0%, which earned it a grade of A, as the Miscellaneous Sector category had an average return of -8.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Amplify Digital Payments ETF has a trailing yield of 0.82%, which is below the 1.09% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Amplify Digital Payments ETF Grades
Year to date, the ETF has returned -4.1%, 8.5 percentage points worse than the category, which translates into a grade of D. The fund has returned -13.9% over the past year (grade of F), 3.8% over the past three years (grade of C) and -6.3% per year over the past five years (grade of C) and 7.6% per year over the past 10 years (grade of D).
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IPAY Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| IPAY Return (NAV) | 8.0% | 5.8% | -13.9% | 3.8% | -6.3% | 7.6% |
| IPAY Return (Price) | 8.4% | 6.1% | -13.6% | 4.0% | -6.3% | 7.7% |
| NAV +/- Price Return | -0.422% | -0.262% | -0.334% | -0.157% | -0.063% | -0.073% |
| Miscellaneous Sector Avg | -8.1% | -9.7% | 26.9% | 3.5% | -9.1% | 5.3% |
| IPAY Grade (NAV) | A | A | F | C | C | D |
| +/- Category (NAV) | 16.1% | 15.5% | -40.9% | 0.3% | 2.7% | 2.3% |
| IPAY Tax-Cost Ratio | na | na | 0.3% | 0.2% | 0.1% | 0.1% |
IPAY Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IPAY Return (NAV) | -4.1% | -9.8% | 25.8% | 18.3% | -32.2% | -12.7% | 34.0% | 41.8% | 1.3% | 36.9% | 4.1% |
| IPAY Return (Price) | -4.0% | -9.5% | 25.9% | 18.3% | -32.4% | -12.7% | 34.2% | 41.8% | 0.9% | 36.4% | 4.6% |
| NAV +/- Price Ret | -0.046% | -0.021% | 0.003% | -0.002% | 0.006% | -0.002% | 0.006% | 0.1% | -33.7% | -1.4% | 11.2% |
| Miscellaneous Sector Avg | 4.4% | 30.9% | -12.7% | -3.8% | -34.7% | 9.9% | 62.0% | 25.7% | -13.2% | 27.3% | 0.5% |
| IPAY Grade (NAV) | D | F | A | A | C | D | D | B | A | B | C |
| +/- Category | -8.5% | -40.6% | 38.5% | 22.2% | 2.5% | -22.7% | -28.0% | 16.2% | 14.6% | 9.6% | 3.6% |
| Risk Measures | |
| Beta: | 1.35 |
| R-Squared: | 51% |
| Standard Deviation: | 24.1% |
| Category Risk Index: | 0.62 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 1.97 |
| Total Risk Rating: | High |
| Portfolio Characteristics | |
| Yield: | 0.8% |
| Total Assets: | $ 180 Mil |
| Share Class Assets: | $ 180 Mil |
| Turnover: | 29.0% |
| Expense Ratio: | 0.75% |
| Index Fund: | Yes |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 2.5 years | |||
| Average Tenure: 2.3 years | |||
| Managers (Year): Lewellyn Dustin (2024), Tong Ernesto (2024), Johanson Christine (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 44 |
| % in Top 10 Holdings: | 55.3% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 18.1% |
Portfolio Allocation |
|
| Domestic Stock: | 81.6% |
| Foreign Stock: | 18.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | -0.0% |
| Cash: | 0.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Amplify ETFs |
| Phone Number: | 855-267-3837 |
| Website: | |
| Inception Date: | July 15, 2015 |
Expenses and Fees
| Expense Ratio (%): | 0.75% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.73% |
