YYY

YYY seeks yield using a basket of closed-end-funds (CEFs). The index-based fund typically holds about 30 CEFs, selected and weighted based on three criteria: yield, discount to NAV, and trading volume. The concept hinges on the success of buying discounted CEFs with big yields and enough liquidity to minimize trading costs within the basket. YYY can hold CEFs focused on any of the major asset classes, resetting the weight to a maximum of 4.25% each at rebalance. YYYs fee includes the expense of its constituent funds. On Oct. 7, 2019, YYY changed its name, primary advisor, issuer and trust to reflect complete integration with Amplify ETFs it was reorganized from the YieldShares High Income ETF. The fund did not make any changes to index or investment objectives. The previous issuer was white-label firm Exchange Traded Concepts. Prior to June 20, 2013, the fund tracked the SWM Index.