ETF Evaluator:
Amplify Municipal CEF High Income ETF ()
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(as of Aug 26)
Best Performing in High Yield Muni Over the Last Year
| 10.8% | VanEck CEF Municipal Income ETF (XMPT) |
| 9.9% | Eaton Vance High Income Municipal ETF (EVYM) |
| 9.5% | Rockefeller Opportunistic Muncpl Bd ETF (RMOP) |
| 9.0% | Nomura National Hi-Yld Muncpl Bd ETF (HTAX) |
| 8.8% | Franklin Municipal High Yield ETF (FTMH) |
Risk
Index
Risk
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ETF Details
Amplify Municipal CEF High Income ETF Overview
Amplify Municipal CEF High Income ETF (YYYM) is a passively managed Municipal Bond High Yield Muni exchange-traded fund (ETF). Amplify ETFs launched the ETF in 2026.
The investment seeks investment results that generally correspond (before fees and expenses) to the price and yield of the Nasdaq Municipal Bond CEF High Income™ Index (the “Index”).
The fund will normally invest at least 80% of its net assets (plus borrowings for investment purposes) in securities of the index. Because the index is comprised of securities issued by other investment companies (as opposed to operating companies), the fund operates in a manner that is commonly referred to as a “fund of funds,” meaning that it invests its assets in shares of funds that are included in the index. The fund is non-diversified.
About Amplify Municipal CEF High Income ETF (YYYM)
There are 3 members of the management team with an average tenure of 0.39 years: Dustin Lewellyn (2026), Ernesto Tong (2026) and Christine Johanson (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Nasdaq Municipal Bd CEF High Inc TR USD index with a weighting of 100%. Amplify Municipal CEF High Income ETF has 33 securities in its portfolio. The top 10 holdings constitute 37.5% 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 Municipal CEF High Income ETF is part of the Fixed Income global asset class and is within the Municipal Bond ETF group. Amplify Municipal CEF High Income ETF has 3.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 5.2% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 92.1% (88.3% domestic bond, 3.8% foreign bond and 0.0% convertible bond). Amplify Municipal CEF High Income ETF has 2.2% of the portfolio in cash.
Assets Under Management
The fund has $1 million in total assets, which is below the $990 million average for the High Yield Muni 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.
YYYM 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 Municipal CEF High Income ETF expense ratio is high compared to funds in the High Yield Muni category. Amplify Municipal CEF High Income ETF has an expense ratio of 2.78%, which is 363% higher than its category average, making the fund expense ratio grade a F. 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 Municipal CEF High Income ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 38% for the High Yield Muni category.
Recently, in the month of July 2026, Amplify Municipal CEF High Income ETF returned -3.5%, which earned it a grade of F, as the High Yield Muni category had an average return of -1.8%. 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 Municipal CEF High Income ETF has a trailing yield of 0.00%, which is below the 4.58% category average.
The fund normally distributes its income monthly 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.
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YYYM 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 |
|
| YYYM Return (NAV) | -3.5% | 0.1% | na | na | na | na |
| YYYM Return (Price) | -4.3% | 0.4% | na | na | na | na |
| NAV +/- Price Return | 0.827% | -0.320% | na | na | na | na |
| High Yield Muni Avg | -1.8% | 0.3% | 7.4% | 4.8% | 0.2% | 2.2% |
| YYYM Grade (NAV) | F | D | na | na | na | na |
| +/- Category (NAV) | -1.7% | -0.2% | na | na | na | na |
| YYYM Tax-Cost Ratio | na | na | na | na | na | na |
YYYM Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| YYYM Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| YYYM Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| High Yield Muni Avg | 1.9% | 4.1% | 5.5% | 6.4% | -14.8% | 6.0% | 3.9% | 10.4% | 1.1% | 7.1% | 0.7% |
| YYYM Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 2 Mil |
| Share Class Assets: | $ 2 Mil |
| Turnover: | na |
| Expense Ratio: | 2.78% |
| Index Fund: | Yes |
| Index Tracked: | Nasdaq Municipal Bd CEF High Inc TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 0.4 years | |||
| Average Tenure: 0.4 years | |||
| Managers (Year): Lewellyn Dustin (2026), Tong Ernesto (2026), Johanson Christine (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 33 |
| % in Top 10 Holdings: | 37.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 3.8% |
Portfolio Allocation |
|
| Domestic Stock: | 5.2% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 88.3% |
| Foreign Bond: | 3.8% |
| Convertible Bond: | 0.0% |
| Other: | 0.4% |
| Cash: | 2.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Amplify ETFs |
| Phone Number: | 855-267-3837 |
| Website: | |
| Inception Date: | March 9, 2026 |
Expenses and Fees
| Expense Ratio (%): | 2.78% (Rating: High) |
| Category Average Expense Ratio (%): | 0.60% |
