Amplify CWP Enhanced Dividend Income ETF (DIVO): Complete Beginner's Guide
Last updated: March 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% |
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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%
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.
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.
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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.