Amplify BlackSwan Tech & Treasury ETF
QSWN
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- Amplify BlackSwan Tech & Treasury ETF (QSWN) is an exchange-traded fund that seeks investment results corresponding to the S-Network BlackSwan Tech & Treasury Index, providing exposure to long-dated LEAP call options and FLEX Options on the Invesco QQQ Trust (tracking the Nasdaq-100 Index) combined with U.S. Treasury securities of intermediate duration (5-10 years); the portfolio targets approximately 90% allocation to Treasuries for capital protection against "Black Swan" events and 10% to in-the-money options with a delta of around 70 to capture about 70% of QQQ upside over a full market cycle while mitigating significant downside. The fund, launched on December 9, 2021, and listed on NYSE Arca, is a series of Amplify ETF Trust sponsored and advised by Amplify Investments LLC (headquartered in Lisle, Illinois, founded in 2015), with sub-advisers Cerity Partners LLC and Tidal Investments LLC (formerly Toroso Investments, LLC); it operates in the U.S. ETF market targeting investors seeking tech/growth equity participation with built-in hedging. In a major recent development, the Board of Trustees voted on February 11, 2025, to terminate and liquidate the fund, halting creation orders after February 26, 2025, ceasing trading at market close on March 5, 2025, and distributing proceeds to shareholders around March 10, 2025; this follows updates to the index methodology in October 2024 to incorporate FLEX Options alongside LEAPs, enhancing implementation flexibility while introducing related liquidity and counterparty risks. The non-diversified fund, with an expense ratio of 0.49% and quarterly distributions, focuses on technology-heavy Nasdaq-100 constituents via QQQ options, serving retail and institutional investors prioritizing risk-managed equity exposure amid volatile markets.