The Fund is an actively managed ETF that seeks to achieve its investment objective by investing in shares of the Amplify Cash Flow Dividend Leaders ETF (the COWS ETF) and in a portfolio that seeks targeted rates of additional income pursuant to a Call Income Strategy. As further described below, the Call Income Strategy provides investment exposure to daily sold call option contracts at strike prices above the then-current value of the S&P 500 Index and is designed to supplement the Funds investment in the COWS ETF, an exchange-traded fund investing in companies with high cash flows.