Amplify CWP Enhanced Dividend Income ETF (DIVO): Complete Beginner's Guide
Amplify CWP Enhanced Dividend Income ETF (DIVO) is a covered call / dividend ETF from Amplify with an expense ratio of 0.55% and $3.0B in assets under management. Our Beginner Suitability Score: 8/10 (Great for Beginners). 5-year annualized return: 10.80%.
Last updated: April 2026
Amplify • Covered Call / Dividend
Expense Ratio
0.55%
AUM
$3.0B
Dividend Yield
4.50%
Inception
2016
Beginner Score
8/10
What is Amplify CWP Enhanced Dividend Income ETF?
DIVO combines a portfolio of high-quality dividend-paying stocks with a tactical covered call writing strategy to generate enhanced income. The fund holds blue-chip stocks and selectively sells call options on individual holdings to boost cash flow. Beginners seeking above-average income with some downside protection will appreciate DIVO's blend of dividend income and option premium collection.
DIVO is managed by Amplify and has been available since 2016. With $3.0B in assets under management, it's a growing fund that has attracted significant investor interest. The fund charges an expense ratio of 0.55%, which means for every $10,000 you invest, you pay approximately $55 per year in management fees.
DIVO at a Glance — Key Metrics
| Expense Ratio | 0.55% |
| Total Holdings | 30 |
| P/E Ratio | 20.0 |
| Beta | 0.85 |
| Dividend Yield | 4.50% |
| AUM | $3.0B |
| Inception Year | 2016 |
| Issuer | Amplify |
Top 10 Holdings in DIVO
DIVO holds 30 different securities. Here are the largest positions that make up the core of this fund:
| # | Company | Ticker | Weight |
|---|---|---|---|
| 1 | UnitedHealth Group Inc. | UNH | 5.80% |
| 2 | Caterpillar Inc. | CAT | 5.20% |
| 3 | Home Depot Inc. | HD | 4.80% |
| 4 | JPMorgan Chase & Co. | JPM | 4.50% |
| 5 | Microsoft Corp. | MSFT | 4.20% |
| 6 | Visa Inc. | V | 4.00% |
| 7 | Chevron Corp. | CVX | 3.80% |
| 8 | Apple Inc. | AAPL | 3.60% |
| 9 | Procter & Gamble Co. | PG | 3.40% |
| 10 | Goldman Sachs Group | GS | 3.20% |
DIVO's top holding is UnitedHealth Group Inc. (UNH) at 5.80%, followed by Caterpillar Inc. (CAT) at 5.20% and Home Depot Inc. (HD) at 4.80%. The top 10 holdings account for 42.50% of the fund's 30 total positions.
View data table
| Rank | Company | Ticker | Weight |
|---|---|---|---|
| 1 | UnitedHealth Group Inc. | UNH | 5.80% |
| 2 | Caterpillar Inc. | CAT | 5.20% |
| 3 | Home Depot Inc. | HD | 4.80% |
| 4 | JPMorgan Chase & Co. | JPM | 4.50% |
| 5 | Microsoft Corp. | MSFT | 4.20% |
| 6 | Visa Inc. | V | 4.00% |
| 7 | Chevron Corp. | CVX | 3.80% |
| 8 | Apple Inc. | AAPL | 3.60% |
| 9 | Procter & Gamble Co. | PG | 3.40% |
| 10 | Goldman Sachs Group | GS | 3.20% |
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DIVO Performance History
Here's how DIVO has performed over different time periods. Remember that past performance doesn't guarantee future results, but it gives you a sense of the fund's track record:
YTD
2.20%
1 Year
17.50%
3 Year
9.20%
5 Year
10.80%
10 Year
9.80%
DIVO has returned 10.80% annualized over 5 years and 9.80% over 10 years. YTD return is 2.20%.
View data table
| Period | Return |
|---|---|
| YTD | 2.20% |
| 1 Year | 17.50% |
| 3 Year | 9.20% |
| 5 Year | 10.80% |
| 10 Year | 9.80% |
Beginner Suitability Score: 8/10
Our proprietary Beginner Suitability Score evaluates ETFs based on five factors that matter most to new investors: fees, volatility, diversification, dividend history, and track record length.
DIVO scores 8/10 because it has very low fees, shows lower-than-average volatility, focuses on 30 selected holdings, and has been available since 2016, giving it a proven track record.
How to Buy DIVO — Step by Step
- Open a brokerage account — We recommend Fidelity, Charles Schwab, or Vanguard for ETF investing. All offer $0 commissions on ETF trades.
- Fund your account — Transfer money from your bank. You can start with as little as $1 if your broker offers fractional shares.
- Search for "DIVO" — Use the search bar in your brokerage platform to find Amplify CWP Enhanced Dividend Income ETF.
- Place your order — Choose "Market Order" for simplicity or "Limit Order" if you want to set a specific price. Enter how many shares (or dollar amount) you want to buy.
- Set up automatic investing — Most brokers let you schedule recurring purchases (e.g., $100/month on the 1st). This is dollar cost averaging in action.
DIVO Sector Allocation
Here's how DIVO distributes its investments across different sectors of the economy:
DIVO's largest sector allocation is Financials at 20.0%, followed by Health Care at 16.5% and Industrials at 15.0%.
View data table
| Sector | Weight |
|---|---|
| Financials | 20.0% |
| Health Care | 16.5% |
| Industrials | 15.0% |
| Information Technology | 13.5% |
| Consumer Staples | 11.0% |
| Consumer Discretionary | 9.0% |
| Energy | 7.5% |
| Communication Services | 4.0% |
| Materials | 2.5% |
| Utilities | 1.0% |
Dollar Cost Averaging Into DIVO
Here's what consistent monthly investing could look like over time, assuming an average annual return of 8% (approximate historical stock market average):
| Monthly | 10 Years | 20 Years | 30 Years |
|---|---|---|---|
| $100/mo | $18,417 | $59,295 | $150,030 |
| $250/mo | $46,041 | $148,237 | $375,074 |
| $500/mo | $92,083 | $296,474 | $750,148 |
*Projections assume 8% average annual return with monthly compounding. Actual returns will vary. Past performance doesn't guarantee future results.
Fee impact: With DIVO's expense ratio of 0.55%, a $10,000 investment would lose approximately $4,524 to fees over 20 years compared to a zero-fee investment. This is significant — consider whether the fund's strategy justifies these costs.
DIVO's expense ratio of 0.55% costs $4,525 on a $10,000 investment over 20 years (assuming 8% annual return). Without fees, the investment would grow to $46,610 instead of $42,085.
View data table
| Year | Without Fees | With Fees | Fee Cost |
|---|---|---|---|
| 0 | $10,000 | $10,000 | $0 |
| 5 | $14,693 | $14,323 | $370 |
| 10 | $21,589 | $20,515 | $1,074 |
| 15 | $31,722 | $29,383 | $2,339 |
| 20 | $46,610 | $42,085 | $4,525 |
Pros and Cons of DIVO
Pros
- ✓Enhanced income from combining stock dividends with covered call option premiums
- ✓Tactical call writing means upside is only partially capped, unlike systematic approaches
- ✓High-quality blue-chip holdings provide strong fundamental support
- ✓Monthly distributions make it attractive for income-dependent investors
Cons
- ✗Expense ratio of 0.55% is significantly higher than passive equity or dividend ETFs
- ✗Covered call strategy caps upside potential during strong rallies
- ✗Concentrated portfolio of only 30 stocks creates higher individual company risk
DIVO vs Similar ETFs
See how DIVO stacks up against similar funds:
Frequently Asked Questions
Is DIVO a good ETF for beginners?▾
DIVO has a Beginner Suitability Score of 8/10 on our scale. This makes it a strong choice for new investors due to its low fees and focused strategy.
What is the expense ratio of DIVO?▾
DIVO has an expense ratio of 0.55%. This means for every $10,000 you invest, you pay approximately $55 per year in fees. This is considered very low and cost-efficient.
How much money do I need to invest in DIVO?▾
You can invest in DIVO with as little as $1 through brokers that offer fractional shares (like Fidelity, Schwab, or Robinhood). There is no minimum investment required beyond the share price itself, which changes daily. Dollar cost averaging — investing a fixed amount regularly — is a popular strategy.
Does DIVO pay dividends?▾
Yes, DIVO pays dividends with a current yield of approximately 4.50%. Dividends are typically paid quarterly and can be reinvested automatically through most brokers.
What are the top holdings in DIVO?▾
The top holdings in DIVO include UnitedHealth Group Inc. (5.80%), Caterpillar Inc. (5.20%), Home Depot Inc. (4.80%), and more. The fund holds 30 total positions, providing focused exposure to selected companies.
What sectors does DIVO invest in?▾
DIVO's largest sector allocations are Financials (20.00%), Health Care (16.50%), Industrials (15.00%). This sector distribution shows a focus on financials stocks.
How much do DIVO's fees cost over time?▾
With an expense ratio of 0.55%, a $10,000 investment in DIVO would lose approximately $4,524 to fees over 20 years (assuming 8% annual returns). Consider whether the fund's strategy justifies these costs.