# EDGAR Filing Document

**Accession Number:** 0001633061
**File Stem:** 0001213900-26-044755
**Filing Date:** 2026-4
**Character Count:** 49283
**Document Hash:** d5bd6f1e3f3df0492e088aef43e66342
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-044755.hdr.sgml**: 20260417

**ACCESSION NUMBER**: 0001213900-26-044755

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260417

**DATE AS OF CHANGE**: 20260416

**EFFECTIVENESS DATE**: 20260417

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Amplify ETF Trust
- **CENTRAL INDEX KEY:** 0001633061

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-207937
- **FILM NUMBER:** 26868703

**BUSINESS ADDRESS:**
- **STREET 1:** 3333 WARRENVILLE ROAD
- **STREET 2:** SUITE 350
- **CITY:** LISLE
- **STATE:** IL
- **ZIP:** 60532
- **BUSINESS PHONE:** (855)267-3837

**MAIL ADDRESS:**
- **STREET 1:** 3333 WARRENVILLE ROAD
- **STREET 2:** SUITE 350
- **CITY:** LISLE
- **STATE:** IL
- **ZIP:** 60532

## Series and Classes Contracts Data

### Amplify LQD Investment Grade 12% Target Income ETF (Series ID: S000102863)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000273395 | Amplify LQD Investment Grade 12% Target Income ETF |  |

Rule 497(k)

File. No 333-207937

---

| | |
|:---|:---|
|  ![](tamplify_logo.jpg)  | AMPLIFY ETF TRUST <br>SUMMARY PROSPECTUS<br>April 17, 2026 |
| &nbsp;&nbsp; Amplify LQD Investment Grade 12% Target Income ETF<br> Cboe BZX — LQDM | &nbsp;&nbsp; Amplify LQD Investment Grade 12% Target Income ETF<br> Cboe BZX — LQDM |
|  *Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus and other information about the Fund, including the statement of additional information and most recent reports to shareholders, online at www.amplifyetfs.com. You can also get this information at no cost by calling 1-855-267-3837 or by sending an e-mail request to info@amplifyetfs.com. The Fund's prospectus and statement of additional information, both dated April 17, 2026, as amended and supplemented from time to time, are incorporated by reference into this summary prospectus.* | *Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus and other information about the Fund, including the statement of additional information and most recent reports to shareholders, online at www.amplifyetfs.com. You can also get this information at no cost by calling 1-855-267-3837 or by sending an e-mail request to info@amplifyetfs.com. The Fund's prospectus and statement of additional information, both dated April 17, 2026, as amended and supplemented from time to time, are incorporated by reference into this summary prospectus.* |

---

INVESTMENT OBJECTIVE

The Amplify LQD Investment Grade 12% Target Income ETF seeks investment results that generally correlate to the performance (before fees and expenses) of the Bloomberg U.S. Investment Grade Corporate Bond 12% Income Covered Call Index (the "Index").

FUND FEES AND EXPENSES

This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund (*"Shares"*). **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.**

---

| | |
|:---|:---|
|  **Annual Fund Operating Expenses (expenses that you pay <br>each year as a percentage of the value of your investment)** | **Annual Fund Operating Expenses (expenses that you pay <br>each year as a percentage of the value of your investment)** |
|  Management Fees | 0.40% |
|  Distribution and Service (12b-1) Fees | 0.00% |
|  Acquired Fund Fees and Expenses<sup>(1)</sup> | 0.14% |
|  Other Expenses<sup>(1)</sup> | 0.00% |
|  **Total Annual Fund Operating Expenses** | 0.54% |

---

<sup>(1)</sup> **Estimate based on the expenses the Fund expects to incur for the current fiscal year.**

EXAMPLE

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. This example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain at current levels. Although your actual costs may be higher or lower, your costs, based on these assumptions, would be:

---

| | |
|:---|:---|
|  **1 YEAR** | **3 YEARS** |
| $55  | $158 |

---

PORTFOLIO TURNOVER

The Fund pays transaction costs, such as commissions, when it purchases and sells securities (or "turns over" its portfolio). A higher portfolio turnover will cause the Fund to incur additional transaction costs and may result in higher taxes when Shares are held in a taxable account. These costs, which are not reflected in Total Annual Fund Operating Expenses or in the example, may affect the Fund's performance. Because the Fund has not yet commenced investment operations, no portfolio turnover information is available at this time.

PRINCIPAL INVESTMENT STRATEGIES

The Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in securities that are representative of the Index. As further described below, the Fund seeks to receive a targeted annualized income of 12% (the "Target Income") through the implementation of the Index investments in the iShares® iBoxx® $ Investment Grade Corporate Bond ETF (the "Underlying ETF") and selling one-week expiration, at-the-money call option contracts that reference the Underlying ETF ("Option Premium"). The Fund will seek to achieve the Target Income from its investment in the Underlying ETF, which provides for interest payments from the underlying investment grade corporate bonds held by the Underlying ETF, together with the receipt of Option Premiums. The Fund expects to make distributions of income from its investments on a monthly basis. Amplify Investments LLC is the investment adviser to the Fund ("Amplify" or the "Adviser") and Samsung Asset Management (New York), Inc., serves as the investment sub-adviser to the Fund ("Samsung" or the "Sub-Adviser"). Bloomberg Index Services Limited (the "Index Provider") developed and maintains the Index. The Index Provider is not affiliated with the Fund, the Adviser, or the Sub-Adviser.

The Index is comprised of two components: (i) the Underlying ETF and (ii) a written (sold) one-week expiration, at-the-money call option contract referencing the Underlying ETF that, together,

seeks to provide the Target Income. The Underlying ETF tracks the investment results of the Markit iBoxx® USD Liquid Investment Grade Index, which is designed to provide a broad representation of the U.S. dollar-denominated liquid investment-grade corporate bond market. *See* "Additional Information About the Fund's Strategies and Risks — Underlying ETF".

**There is no assurance that the Index or the Fund will successfully achieve the Target Income in accordance with its investment objective.** While the Fund seeks to generate the Target Income in accordance with the Index, the actual income earned during a one-year period will depend on the NAV of the Fund each time the Fund sells the weekly option contracts and on the interest income generated by the Fund's holdings in the Underlying ETF and corporate bond securities. Therefore, the actual income generated over a one-year period could be higher or lower than the Target Income, depending on changes in the Fund's NAV over time. If the NAV of the Fund remains level or decreases during any one-year period, the annualized income generated by the Fund may be significantly less than the Target Income for that time period. The Fund expects to make distributions from the income generated from its call writing strategy on a monthly basis; however, there is no guarantee that the Fund will make a distribution in any given period. The Target Income is not a projection or guarantee of the Fund's future performance or total return.

*Target Income.* The Index is designed to provide the Target Income through the implementation of written (sold) call option contracts on the Underlying ETF with weekly expirations. An option contract gives the purchaser of the option, in exchange for the premium paid, the right to purchase (for a call option) the underlying asset at a specified price (the "strike price") on a specified date (the "expiration date"). A call option contract gives the seller of the call option contract (*i.e.*, the "writer") the obligation to sell, in exchange for a premium received, a specified amount of an underlying security at a pre-determined price if the holder of the option contract exercises the option. The Index sells call option contracts with an expiration date of one-week that have strike prices at the then-current value of the Underlying ETF, also known as "at-the-money." The Index aggregate notional exposure of the written call options is sized up or down to achieve the Target Income and further adjusted for the estimated income on the Underlying ETF. Factors that impact the amount of premium generated in a written call option contract include: (i) time to expiration; (ii) strike price; and (iii) volatility of the underlying asset. The Index rebalances its sold call option contract each week upon the expiration of its sold option contract by selling a new call option contract that seeks the Option Premium. The Fund intends to sell call FLexible EXchange® Options ("FLEX Options") that reference the Underlying ETF. The Fund will match the strike price (at-the-money), expiration dates (one-week), and notional exposure to the Underlying ETF in its sold call option contracts to generate the same premiums as the options sold by the Index. As further described below, by selling at-the-money call options, the Index will forfeit the upside market appreciation beyond the strike price of the Underlying ETF for the portion of the Underlying ETF's holdings on which options are written. To the extent the Fund's sold call options do not cover all of the Fund's Underlying ETF holdings, the Fund may participate in some upside appreciation on the uncovered portion.

The Index is designed to generate the Target Income by varying the aggregate notional exposure of the written call option contracts attributable to the Underlying ETF, adjusting such exposure up or down to achieve the Target Income and further adjusting for the estimated interest income on the Underlying ETF and the Fund seeks to replicate, before fees and expenses, the performance of the Index. The Target Income assumes the NAV of the Fund will remain constant over a one-year period; however, the Fund's NAV is expected to fluctuate over time due to market conditions, volatility and other factors. Accordingly, the actual income received by the Fund over the course of any year may be greater or less than the Target Income, depending on changes in the Fund's NAV over time. If the NAV of the Fund remains level or decreases during any one-year period, the annualized income generated by the Fund may be significantly less for that time period. As a result, the amount of distributions paid to shareholders may vary from year to year, depending on the actual income received by the Fund.

Option contracts can either be "American" style or "European" style. The Index and the Fund utilize European style option contracts, which may only be exercised by the holder of the option contract on the expiration date of such option contract and settled in cash. Therefore, if the price of the Underlying ETF exceeds the strike price, and the option contract is exercised, the Fund will be obligated to deliver the cash value of the difference between the then current price of the Underlying ETF and the strike price for the number of shares contemplated by the option contract.

*Underlying ETF Investment Exposure.* Under normal market conditions, the Fund intends to invest directly in the Underlying ETF in order to gain exposure to the market performance and investment income provided by the Underlying ETF.

However, at times, the Fund may implement its investment in the Underlying ETF by holding a "representative sampling" of securities that comprise the Underlying ETF. A representative sampling strategy seeks to replicate the returns of the Underlying ETF, meaning it may invest in a sample of the securities in the Underlying ETF whose risk, return, and other characteristics closely resemble the risk, return, and other characteristics of the Underlying ETF as a whole. The Sub-Adviser may use a representative sampling approach in certain circumstances, including to obtain pricing that may be advantageous to the Fund, when there are practical difficulties or substantial costs involved in compiling the portfolio, in instances in which a security becomes temporarily illiquid, unavailable or less liquid, or as a result of legal restrictions or limitations that apply to the Fund but not the Underlying ETF.

Because the Fund intends to invest directly in the Underlying ETF, the notional exposure of the sold call option contracts will be covered by the Fund's direct holdings of the Underlying ETF (i.e., all of the Fund's sold call option contracts will be fully covered by its direct holdings of the Underlying ETF). However, when a representative sampling approach is utilized, the Fund may hold corporate bond securities directly in lieu of shares of the Underlying ETF. During these periods, the notional exposure of the Fund's sold call option contracts may exceed the Fund's direct holdings of the Underlying ETF, and a corresponding portion of such sold call option contracts will be "uncovered." An option is considered "uncovered" when the holder does not have a direct

position with which to fill the terms of the option contract should the counterparty exercise their right to the option. To the extent the Fund sells any call option contracts that are "uncovered", it will directly hold corporate bond securities with substantially the same investment exposure as the Underlying ETF which it will utilize to cover any losses experienced by its sold call option contract that exceed its holdings of the Underlying ETF. Uncovered calls have speculative characteristics and the potential for loss is theoretically unlimited, as the price of the Underlying ETF could increase without limit. While the Fund expects to liquidate its corporate bond holdings to cover such losses, there is no guarantee that such holdings can be liquidated at sufficient prices or in a timely manner. Further, the Fund's ability to use the sale of its holdings of corporate bond securities to make payment on the sold option obligations is not guaranteed. *See* "Option Contracts Risk — Call Option Strategy Risk" below for additional risks associated with the Fund's call option writing strategy.

In following the Index strategy of selling call option contracts and receiving a premium payment, the Fund, as a writer of the option, will effectively forego the upside market returns of the portion of Underlying ETF holdings in which it writes options that is beyond the strike price of each sold call option contract. Because the Index utilizes at-the-money call options, if market conditions are such that all of the Fund's Underlying ETF holdings are used to cover the sold call option, the Index will forego all upside potential of the Underlying ETF beyond the strike price of the sold call option contracts. If market conditions are such that the Index does not need to write options contracts on all of the Fund's Underlying ETF holdings to produce its Option Premium, the Fund will experience some, but not all, of the upside returns of the Underlying ETF (if any). The Fund will not participate in any upside returns of the Underlying ETF to the extent it holds corporate bond securities in lieu of holding the Underlying ETF directly; however, the Fund will also experience the market performance and income payments attributable to its corporate bond securities held directly. The Index, and therefore the Fund, is subject to any losses experienced by the Underlying ETF.

The Fund currently expects to make distributions on a monthly basis. While the Fund expects that distributions it makes will be comprised of amounts attributable to interest income from the Underlying ETF and corporate bond securities and the Option Premiums received from the Fund's call writing strategy in accordance with the Index, a portion of its distributions in the future may be in excess of the Fund's then-current and accumulated earnings and profits and classified as a return of capital. Return of capital reduces a shareholder's cost basis in the Fund's shares and will reduce the Fund's NAV per share. See "Principal Risks of Investment in the Fund — Distribution Tax Risk." The Fund's ability to achieve its stated Target Income depends on market conditions. The Fund may fall short of the Target Income under a variety of circumstances, including, but not limited to, periods of declining volatility, sharp market rallies, a declining or flat NAV, reduced interest income from the Underlying ETF or corporate bond securities held by the Fund, losses associated with uncovered call option exposure or adverse market conditions. There is no assurance that the Index or the Fund will successfully achieve the Target Income.

*Concentration Policy.* The Fund will not concentrate its investments (*i.e.*, invest more than 25% of the value of its total assets) in securities of issuers in any one industry or group of industries, except to the extent that the Index concentrates in an industry or group of industries.

*Diversification Status.* The Fund is classified as a "non-diversified company" under the Investment Company Act of 1940, as amended (the "1940 Act").

PRINCIPAL RISKS OF INVESTING IN THE FUND

You could lose money by investing in the Fund. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency. There can be no assurance that the Fund's investment objective will be achieved. The principal risks are presented in alphabetical order to facilitate finding particular risks and comparing them with other funds. Each risk summarized below is considered a "principal risk" of investing in the Fund, regardless of the order in which it appears.

**Active Market Risk.** Although the Shares are listed for trading on the Exchange, there can be no assurance that an active trading market for the Shares will develop or be maintained. Shares trade on the Exchange at market prices that may be below, at or above the Fund's net asset value. Securities, including the Shares, are subject to market fluctuations and liquidity constraints that may be caused by such factors as economic, political, or regulatory developments, changes in interest rates, and/or perceived trends in securities prices. Shares of the Fund could decline in value or underperform other investments.

**Authorized Participant Concentration Risk.** Only an authorized participant may engage in creation or redemption transactions directly with the Fund. The Fund has a limited number of institutions that act as authorized participants on an agency basis (*i.e.* on behalf of other market participants). To the extent that these institutions exit the business or are unable to proceed with orders for the issuance or redemption of Creation Units and no other authorized participant is able to step forward to fulfill the order, in either of these cases, Shares may trade at a discount to the Fund's net asset value ("NAV") and possibly face delisting.

**Concentration Risk.** The Fund's investments will be concentrated in an industry or group of industries to the extent the Index is so concentrated. To the extent the Fund invests more heavily in particular industries, groups of industries, or sectors of the economy, its performance will be especially sensitive to developments that significantly affect those industries, groups of industries, or sectors of the economy, and the value of Fund shares may rise and fall more than the value of shares that invest in securities of companies in a broader range of industries or sectors.

**Corporate Bond Securities Risk.** Corporate bonds, which are debt instruments issued by corporations to raise capital, have priority over preferred securities and common stock in an issuer's capital structure, but may be subordinated to an issuer's other debt instruments. The market value of a corporate bond may be affected by factors directly related to the issuer, such as investors' perceptions of the creditworthiness of the issuer, the issuer's

financial performance, perceptions of the issuer in the market place, performance of the issuer's management, the issuer's capital structure, the use of financial leverage and demand for the issuer's goods and services, and by factors not directly related to the issuer such as general market liquidity. The market value of corporate bonds generally may be expected to rise and fall inversely with interest rates, and as a result, corporate bonds may lose value in a rising-rate environment. To the extent the Fund holds below investment grade corporate bonds, such bonds are often high risk and have speculative characteristics and may be particularly susceptible to adverse issuer-specific developments.

**Counterparty Risk.** Counterparty risk is the risk an issuer, guarantor or counterparty of a security held by the Fund is unable or unwilling to meet its obligation on the security. Counterparty risk may arise because of the counterparty's financial condition, market activities, or for other reasons. A counterparty's inability to fulfill its obligation may result in financial losses to the Fund, which could be significant. The Fund may be unable to recover its investment from the counterparty or may obtain a limited and/or delayed recovery.

**Cyber Security Risk.** The Fund is susceptible to operational risks through breaches in cyber security. A breach in cyber security refers to both intentional and unintentional events that may cause the Fund to lose proprietary information, suffer data corruption or lose operational capacity. Such events could cause the Fund to incur regulatory penalties, reputational damage, additional compliance costs associated with corrective measures and/or financial loss. Cyber security breaches may involve unauthorized access to the Fund's digital information systems through "hacking" or malicious software coding, but may also result from outside attacks such as denial-of-service attacks through efforts to make network services unavailable to intended users. In addition, cyber security breaches of the Fund's third-party service providers, such as its administrator, transfer agent, custodian, or sub-adviser, as applicable, or issuers in which the Fund invests, can also subject the Fund to many of the same risks associated with direct cyber security breaches. While the Fund has established business continuity plans and risk management systems designed to reduce the risks associated with cyber security, there are inherent limitations in such plans and systems. Additionally, there is no guarantee that such efforts will succeed, especially because the Fund does not directly control the cyber security systems of issuers or third-party service providers.

**Distribution Tax Risk.** The Fund currently expects to make distributions on a regular basis, a portion of which may be considered return of capital. While the Fund will normally pay its income as distributions, the Fund's distributions may exceed the Fund's income and gains for the Fund's taxable year. The Fund may be required to reduce its distributions if it has insufficient cash flow. Distributions in excess of the Fund's current and accumulated earnings and profits will be treated as a return of capital. Distributions not in excess of the Fund's earnings and profits, will be taxable to Fund shareholders and will not constitute nontaxable returns of capital. A return of capital distribution generally will not be taxable currently but will reduce the shareholder's cost basis and will result in a higher capital gain or lower capital loss

when those Fund shares on which the distribution was received are sold. Once a Fund shareholder's cost basis is reduced to zero, further distributions will be treated as capital gain, if the Fund shareholder holds shares of the Fund as capital assets. Because the Fund's distributions may consist of return of capital, the Fund may not be an appropriate investment for investors who do not want their principal investment in the Fund to decrease over time or who do not wish to receive return of capital in a given period.

**Fluctuation of Net Asset Value Risk.** The Fund is generally subject to liquidity risk that may affect the market for Shares as compared to the underlying value of the Fund's investments. The net asset value of Shares will generally fluctuate with changes in the market value of the Fund's holdings. The market prices of Shares will generally fluctuate in accordance with changes in net asset value as well as the relative supply of and demand for Shares on the Exchange. The Fund cannot predict whether Shares will trade below, at or above their net asset value. Price differences may be due, in large part, to the fact that supply and demand forces at work in the secondary trading market for Shares will be closely related to, but not identical to, the same forces influencing the prices of the holdings of the Fund trading individually or in the aggregate at any point in time.

**Index Provider Risk.** The Fund seeks to achieve returns that generally correspond, before fees and expenses, to the performance of the Index, as published by the Index Provider. There is no assurance that the Index Provider will compile its Index accurately, or that the Index will be determined, composed or calculated accurately. While the Index Provider gives descriptions of what the Index is designed to achieve, the Index Provider does not provide any warranty or accept any liability in relation to the quality, accuracy or completeness of data in its indices, and it does not guarantee that the Index will be in line with its methodology.

**Index Risk.** The Fund is not actively managed. The Fund invests in securities included in its Index regardless of their investment merit. There is no guarantee that the implementation of the methodology underlying the Index will result in the Fund achieving the Target Income. Unlike many investment companies, the Fund does not utilize an investing strategy that seeks returns in excess of the Index. Therefore, it would not necessarily buy or sell a security unless that security is added or removed, respectively, from the Index, even if that security generally is underperforming.

**Inflation Risk.** Inflation may reduce the intrinsic value of increases in the value of the Fund. Inflation risk is the risk that the value of assets or income from investments will be less in the future as inflation decreases the value of money. As inflation increases, the value of the Fund's assets can decline as can the value of the Fund's distributions.

**Interest Rate Risk.** During periods of very low or negative interest rates, the Underlying ETF may be unable to maintain positive returns or pay dividends to Fund shareholders. Very low or negative interest rates may magnify interest rate risk. Changing interest rates, including rates that fall below zero, may have unpredictable effects on markets, result in heightened market volatility and detract from the Underlying ETF's performance to the extent the

Underlying ETF is exposed to such interest rates. Additionally, under certain market conditions in which interest rates are low and the market prices for portfolio securities have increased, the Underlying ETF may have a very low or even negative yield. A low or negative yield would cause the Underlying ETF to lose money in certain conditions and over certain time periods. An increase in interest rates will generally cause the value of fixed income securities held by the Fund or the Underlying ETF to decline, may lead to heightened volatility in the fixed-income markets and may adversely affect the liquidity of certain investments, including those held by the Fund or the Underlying ETF.

**Market Maker Risk.** If the Fund has lower average daily trading volumes, it may rely on a small number of third-party market makers to provide a market for the purchase and sale of Shares. Any trading halt or other problem relating to the trading activity of these market makers could result in a dramatic change in the spread between the Fund's net asset value and the price at which the Shares are trading on the Exchange, which could result in a decrease in value of the Shares. In addition, decisions by market makers or authorized participants to reduce their role or step away from these activities in times of market stress could inhibit the effectiveness of the arbitrage process in maintaining the relationship between the underlying values of the Fund's portfolio securities and the Fund's market price. This reduced effectiveness could result in Shares trading at a discount to net asset value and also in greater than normal intra-day bid-ask spreads for Shares.

**Market Risk.** Market risk is the risk that a particular security owned by the Fund or the Shares in general may fall in value, including the possible loss of the entire principal amount that you invest. Securities are subject to market fluctuations caused by such factors as economic, political, regulatory or market developments, changes in interest rates and perceived trends in securities prices, and changes in investors' perceptions of the financial condition of an issuer or the general condition of the relevant stock market, such as market volatility. The economies of the United States and its trading partners, as well as the financial markets generally, may be adversely impacted by trade disputes and other matters. Advancements in technology may also adversely impact markets and the overall performance of the Fund. For instance, the economy may be significantly impacted by the advanced development and increased regulation of artificial intelligence. Overall security values could decline generally or could underperform other investments. In addition, local, regional or global events such as war, acts of terrorism, spread of infectious diseases or other public health issues, recessions, or other events could have a significant negative impact on the Fund and its investments. Such events may affect certain regions, sectors and industries more significantly than others. Such events could also adversely affect the prices and liquidity of the Fund's portfolio securities or other instruments and could result in disruptions to trading markets. Any of such circumstances could materially negatively impact the value of the Fund's Shares and result in increased market volatility. During any such events, the Fund's Shares may trade at an increased premium or discount to its net asset value.

**Non**-Correlation **Risk.** The Fund's return may not match the return of the Index for a number of reasons. For example, the Fund incurs operating expenses not applicable to the Index, and incurs costs in buying and selling securities, especially when rebalancing the Fund's securities holdings to reflect changes in the composition of the Index. Additionally, if the Fund utilizes a representative sampling approach to seek the investment results of the index, the Fund may not be as well-correlated with the return of the Index as would be the case if the Fund purchased all of the securities in the Index in the proportions represented in the Index. In addition, the performance of the Fund and the Index may vary due to asset valuation differences and differences between the Fund's portfolio and the Index resulting from legal restrictions, cost or liquidity constraints.

**New Fund Risk.** The Fund is new and currently has fewer assets than larger funds, and like other new funds, large inflows and outflows may impact the Fund's market exposure for limited periods of time. This impact may be positive or negative, depending on the direction of market movement during the period affected. Additionally, because the Fund has fewer assets than larger funds over which to spread its fixed costs, its expense levels on a percentage basis will be higher than that of a larger Fund.

**Non**-Diversification **Risk.** Because the Fund is classified as a "non-diversified company" it can invest a greater portion of its assets in securities of individual issuers than a "diversified company", and therefore changes in the market value of a single investment could cause greater fluctuations in Share price of the Fund than would occur in a diversified fund. This may increase the Fund's volatility and cause the performance of a relatively small number of issuers to have a greater impact on the Fund's performance.

**Operational Risk.** The Fund is exposed to operational risks arising from a number of factors, including, but not limited to, human error, processing and communication errors, errors of the Fund's service providers, counterparties or other third-parties, failed or inadequate processes and technology or systems failures. The Fund, Adviser and Sub-Adviser seek to reduce these operational risks through controls and procedures. However, these measures do not address every possible risk and may be inadequate to address these risks.

**Option Contracts Risk.** The use of option contracts involves investment strategies and risks different from those associated with ordinary portfolio securities transactions. The prices of option contracts are volatile and are influenced by, among other things, actual and anticipated changes in the value of the underlying instrument, changes in interest or currency exchange rates, including the anticipated volatility, which are affected by fiscal and monetary policies and by national and international political events, changes in the actual or implied volatility of the reference asset, the time remaining until the expiration of the option contract and economic events. There may at times be an imperfect correlation between the movement in values of option contracts and the reference

asset of the option contract, and there may at times not be a liquid secondary market for certain option contracts. The Fund enters into option contracts in accordance with Rule 18f-4 promulgated under the 1940 Act ("Rule 18f-4"). Rule 18f-4 requires a fund to implement certain policies and procedures designed to manage its derivatives risks, dependent upon a fund's level of exposure to derivative instruments. To the extent the Fund is noncompliant with Rule 18f-4, the Fund may be required to adjust its investment portfolio which may, in turn, negatively impact its implementation of its investment strategies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• Call Option Strategy Risk.* The Fund will employ its call option strategy by writing call options on the Underlying ETF. The risk associated with a covered call option strategy is the risk that the Fund will forgo, during the option contract's life, the opportunity to profit from increases in the market value of the security covering the call option above the sum of the premium and the strike price of the call, but has retained the risk of loss of the underlying security should the price of the underlying security decline. In addition, as the Fund sells (writes) call option contracts over a greater portion of its portfolio, its ability to benefit from the potential for capital appreciation of the Underlying ETF becomes more limited. In circumstances where the Fund holds corporate bonds directly in lieu of the Underlying ETF, the notional exposure of the sold call option contracts could exceed that of the Fund's position in the Underlying ETF, and therefore a portion of such sold call options will be "uncovered" (meaning the Fund will not directly own sufficient securities underlying the option contracts). While the Fund expects to be able to liquidate other positions with the same investment exposure as the Underlying ETF to pay for any losses associated with uncovered call options, uncovered call options subject the writer of the option to the risk of potentially unlimited losses. Unlike a covered call option, where the writer's obligation can be satisfied by delivering the underlying security it already owns, the writer of an uncovered call option must deliver the cash settlement value equal to the difference between the then-current price of the Underlying ETF and the strike price of the option contract for the number of shares contemplated by the option contract. Because the Fund utilizes European-style, cash-settled option contracts, if the price of the Underlying ETF rises above the strike price at expiration, the Fund will be obligated to pay the difference in cash, and such losses will increase in direct proportion to any appreciation in the price of the Underlying ETF above the strike price. There is no cap on the potential appreciation of the Underlying ETF, and accordingly, there is no cap on the potential losses that the Fund could experience on the uncovered portion of its sold call option contracts. Once an option writer has received an exercise notice, it cannot affect a closing

purchase transaction in order to terminate its obligation under the option and must deliver the underlying security at the exercise price in the case of physically settled options, or the cash value thereof in the case of cash-settled options.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• FLEX Options Risk.* The Fund will utilize FLEX Options issued and guaranteed for settlement by the Options Clearing Corporation (the "OCC"). The Fund bears the risk that the OCC will be unable or unwilling to perform its obligations under the FLEX Options contracts. In the unlikely event that the OCC becomes insolvent or is otherwise unable to meet its settlement obligations, the Fund could suffer significant losses. Additionally, FLEX Options may be less liquid than certain other securities, such as standardized options. In less liquid markets for the FLEX Options, the Fund may have difficulty closing out certain FLEX Options positions at desired times and prices. In connection with the creation and redemption of Shares, to the extent market participants are not willing or able to enter into FLEX Option transactions with the Fund at prices that reflect the market price of the Shares, the Fund's NAV and, in turn the share price of the Fund, could be negatively impacted. The FLEX Options utilized by the Fund are exercisable at the strike price on their expiration date. As a FLEX Option approaches its expiration date, its value typically increasingly moves with the value of the Underlying ETF. However, prior to such date, the value of the FLEX Options does not increase or decrease at the same rate as the Underlying ETF's share price on a day-to-day basis (although they generally move in the same direction). The value of the FLEX Options held by the Fund will be determined based on market quotations or other recognized pricing methods. The value of the underlying FLEX Options will be affected by, among others, changes in the Underlying ETF's share price, changes in interest rates, changes in the actual and implied volatility of the Underlying ETF and the remaining time until the FLEX Options expire.

**Passive Investment Risk.** The Fund is not actively managed. The Fund invests in securities included in or representative of its Index regardless of their investment merit. The Fund does not attempt to outperform the Index. The Fund generally will not attempt to take defensive positions in declining markets.

**Premium/Discount Risk.** The NAV of Shares will generally fluctuate with changes in the market value of the Fund's holdings. The market prices of Shares will generally fluctuate in accordance with change in NAV as well as the relative supply of and demand for Shares on the Exchange. The Fund cannot predict whether Shares will trade below (discount), at or above (premium) their NAV. Price differences may be due, in large part, to the fact that supply and demand forces at work in the secondary trading market for Shares will be closely related to, but not identical to, the same forces influencing the prices of the holdings of the Fund trading individually or in the aggregate at any point in time.

**Rebalancing Risk.** If for any reason the Fund is unable to rebalance all or a portion of its portfolio, or if all or a portion of the portfolio is rebalanced incorrectly, the Fund's investment exposure may not be consistent with the Fund's investment objective. In these instances, the Fund may have investment exposure to the Index that does not properly track the performance of the Index. As a result, the Fund may not achieve its investment objective.

**Tax Risk.** The tax rules and limitations that apply to the Fund will cause some or all of its income and gain to be taxable as ordinary income or at ordinary income rates, may accelerate its recognition of income and gain, and may defer its use of losses, all of which are expected to have negative tax consequences for the Fund and Fund investors. Because the assets comprising the Index and held by the Underlying ETF do not consist of stock, ordinary dividends from the Fund may not be eligible for the reduced rates applicable to "qualified dividend income" or eligible for the dividends-received deduction. The Fund expects that its ownership of shares of the Underlying ETF and sale of call options thereon generally will constitute "straddles" (offsetting positions with respect to personal property) under section 1092 of the Internal Revenue Code ("IRC"). The straddle rules generally do not apply if all the straddle's offsetting positions consist of "qualified covered call options" and the stock to be purchased under the options, and the straddle is not part of a larger straddle. Unlike certain other funds that utilize covered call strategies, the Fund does not anticipate that this exception will be available because, as a general matter, the call options it writes are not expected to be treated as "qualified covered call options." The straddle rules usually will terminate the Fund's holding periods for its shares of the Underlying ETF that become part of a straddle before the long-term capital gain holding period (more than one year) has been reached, which is expected to eliminate the Fund's ability to recognize long-term capital gains from a sale or other disposition of such shares. The straddle rules also usually will defer recognition of realized losses and require the capitalization of certain interest expenses and carrying charges. Similarly, "wash sale" rules may apply to defer the recognition of loss by the Fund from the disposition of stock or securities at a loss in a case in which identical or substantially identical stock or securities (or an option to acquire such property) is or has been acquired within a prescribed period. As a result of the foregoing, an investor may be subject to significantly greater amounts of tax as a result of the investment than would apply to an investment in a fund engaged in a different investment strategy.

**Trading Issues Risk.** Although the Shares of the Fund are listed for trading on the Exchange, there can be no assurance that an active trading market for such Shares will develop or be maintained. Trading in Shares on the Exchange may be halted due to market conditions or for reasons that, in the view of the Exchange, make trading in Shares inadvisable. In addition, trading in Shares on the Exchange is subject to trading halts caused by extraordinary market volatility pursuant to Exchange "circuit breaker" rules. Market makers are under no obligation to make a market in the Fund's Shares, and authorized participants are not obligated to submit purchase or redemption orders for Creation Units.

There can be no assurance that the requirements of the Exchange necessary to maintain the listing of the Fund will continue to be met or will remain unchanged.

**Underlying ETF Risk.** Because the Fund invests in shares of the Underlying ETF, the Fund's investment performance will depend on the investment performance and associated risks of the Underlying ETF. The Underlying ETF is subject to many of the same structural risks as the Fund that are described in more detail herein, such as Authorized Participant Concentration Risk, Fluctuation of Net Asset Value Risk, Market Maker Risk, Market Risk, Operational Risk and Trading Issues Risk. The Fund is also subject to the risks of the Underlying ETF's investments, specifically Corporate Bond Securities Risk, which is also described in more detail herein. Finally, as a shareholder in another ETF, the Fund bears its proportionate share of the Underlying ETF's expenses, subjecting Fund shareholders to duplicative expenses.

**Valuation Risk.** During periods of reduced market liquidity or in the absence of readily available market quotations for the holdings of the Fund, the valuation of the Fund's investments will become more difficult. In market environments where there is reduced availability of reliable objective pricing data, the judgment of the Fund's investment adviser in determining the fair value of the security may play a greater role. While such determinations may be made in good faith, it may nevertheless be more difficult for the Fund to accurately assign a daily value.

**The Shares will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective.**

PERFORMANCE

As of the date of this prospectus, the Fund has not yet commenced operations and therefore does not have a performance history. Once available, the Fund's performance information will be accessible on the Fund's website at www.amplifyetfs.com and will provide some indication of the risks of investing in the Fund.

MANAGEMENT OF THE FUND

*Investment Adviser.* Amplify Investments LLC

*Sub*-Adviser*.* Samsung Asset Management (New York), Inc.

*Portfolio Managers.* The following individuals serve as portfolio managers to the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Yunjae Hwang, Portfolio Manager at Samsung

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Woongmin Greg Chun, Portfolio Manager at Samsung

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Evan Richert, CFA, Portfolio Manager at Samsung

The portfolio managers are primarily and jointly responsible for the day-to-day management of the Fund. The portfolio managers have served as part of the portfolio management team of the Fund since its inception in April 2026.

PURCHASE AND SALE OF SHARES

The Fund issues and redeems Shares at NAV only with authorized participants that have entered into agreements with the Fund's distributor and only in Creation Units or multiples thereof ("Creation Unit Aggregations"), in exchange for the deposit or delivery of a basket of securities in which the Fund invests and/or cash. Except when aggregated in Creation Units, the Shares are not redeemable securities of the Fund.

Individual Shares may only be bought and sold in the secondary market (i.e., on a national securities exchange) through a broker or dealer at a market price. Because the Shares trade at market prices rather than NAV, Shares may trade at a price greater than NAV (at a premium), at NAV, or less than NAV (at a discount). An investor may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase Shares (bid) and the lowest price a seller is willing to accept for Shares (ask) when buying or selling shares in the secondary market (the *"bid*-ask *spread"*).

Recent information, including information on the Fund's NAV, market price, premiums and discounts, and bid-ask spreads, is available online at www.amplifyetfs.com.

TAX INFORMATION

The Fund's distributions will generally be taxable as ordinary income or capital gains. A sale of Shares may result in capital gain or loss.

PAYMENTS TO BROKER-DEALERS AND OTHER FINANCIAL INTERMEDIARIES

If you purchase Shares through a broker-dealer or other financial intermediary (such as a bank), the Adviser and Foreside Fund Services, LLC, the Fund's distributor, may pay the intermediary for the sale of Shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.