Key Highlights

● AIVC traded down 2.12% at $106.73 in Friday's October 16 intraday session.

● It spans semiconductors, cloud infrastructure, power delivery, and enterprise software.

● AIVC holds roughly 45 to 55 global equities with constituents capped at 6.0%.

● The expense ratio is 0.59% and the 30-day SEC yield is about 0.22%.

Most thematic investment funds targeting artificial intelligence suffer from narrow structural bias, focusing exclusively on semiconductor chipmakers or speculative consumer software applications. However, enterprise artificial intelligence is not a single product; it is a complex, multi-layered industrial stack. The Amplify Bloomberg AI Value Chain ETF (NYSE American:AIVC) captures this complete ecosystem by systematically investing across all four foundational layers of the AI value chain: semiconductor hardware, cloud infrastructure, power delivery, and enterprise software. AIVC fell 2.12% to $106.73 in intraday trading on Friday, October 16.

AIVC opened at $106.20 against a previous close of $109.04, and its day range runs from $106.20 to $109.04. Full-stack indexing holds silicon designers alongside hyperscale cloud platforms, data center networking equipment, and mission-critical enterprise applications, so AIVC captures revenue across the entire technological lifecycle.

Legal Architecture & Bloomberg Benchmark Rules

AIVC is registered under the Investment Company Act of 1940 as an open-end management investment company, operating as an active investment series of the Amplify ETF Trust. Amplify Investments LLC serves as the registered investment advisor, overseeing index replication, liquidity management, and semi-annual rebalancing. The fund launched in March 2016 as the Amplify Global Cloud Technology ETF under the ticker IVES and was rebranded as AIVC in October 2024.

The fund tracks the Bloomberg AI Value Chain Index. This rules-based benchmark leverages Bloomberg's proprietary industry classification research to identify and score global companies deriving material revenue from AI-related activities. The index enforces strict liquidity filters and multi-tier capping constraints (individual constituents capped at 6.0%) to prevent single mega-cap technology firms from dominating the fund's overall risk profile.

Portfolio Composition: Full-Stack Technological Architecture

AIVC holds approximately 45 to 55 global equities distributed across four primary sectors: semiconductor processing, datacenter hardware, cloud platforms, and software integration. Net assets stand at about $130 million.

Its top portfolio holdings include semiconductor computing titans NVIDIA (NASDAQ:NVDA), Broadcom (NASDAQ:AVGO), and AMD (NASDAQ:AMD), alongside hyperscale cloud and model operators Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL), and Amazon (NASDAQ:AMZN), optical networking hardware providers Arista Networks (NYSE:ANET) and Marvell Technology (NASDAQ:MRVL), and enterprise application software leaders like ServiceNow (NYSE:NOW), Salesforce (NYSE:CRM), and Palantir (NASDAQ:PLTR). This four-pillar architecture ensures balanced participation across hardware fabrication, model training, and end-user monetization.

Expense Structure, Operating Ratio & Research Overhead

Amplify charges an annual management expense ratio of 0.59% for AIVC. This fee covers specialized Bloomberg index licensing, global custody, and the multi-market trading execution required to maintain an international technology portfolio.

Compared to basic passive semiconductor ETFs that charge between 0.15% and 0.35%, AIVC’s 0.59% expense ratio reflects the specialized research required to quantify AI revenue attribution across complex multi-segment enterprise corporations.

Performance Dissection: Hardware-to-Software Inflections

Over the past 52 weeks, AIVC has traded from a low of $61.11 to a high of $124.23. This rally was initially led by extreme demand for AI server processors, followed by multiple expansion across cloud infrastructure and enterprise workflow automation software.

By maintaining diversified exposure across the complete AI stack, AIVC avoided the severe drawdowns experienced by narrow software-only or chip-only ETFs during mid-cycle sector rotations, proving the resilience of full-value-chain indexing.

Distribution Profile, Dividend Yield & Taxation

Because technology corporations prioritize aggressive research and development and capital expenditure over cash distributions, AIVC maintains a conservative income profile. The fund pays annual dividend distributions with a 30-day SEC yield of approximately 0.22% as of October 2026.

From a tax perspective, AIVC provides standard Form 1099-DIV reporting. Distributions generally qualify as qualified dividend income (QDI) for eligible US investors. The fund’s 1940 Act structure ensures clean mutual fund tax treatment, avoiding partnership K-1 forms.

Secondary Market Liquidity & Lead Market Making

Trading under the ticker AIVC, the fund benefits from active secondary market liquidity supported by institutional market makers and authorized participants. Intraday bid-ask spreads typically hover between three and five cents per share during normal market hours.

Because underlying portfolio holdings trade on deep US exchanges with multi-billion-dollar liquidity, authorized participants easily create and redeem shares, ensuring secondary quotes remain closely aligned with net asset value.

Primary Investment Risks: Tech Capex Cycles & Valuation Multiples

Investing in AIVC involves notable sector risks. Chief among these is cloud capital expenditure deceleration: if hyperscale cloud service providers slow their spending on new AI computing clusters, hardware suppliers could experience sudden revenue contractions.

Additionally, many enterprise software constituents trade at elevated price-to-sales and price-to-earnings multiples, leaving them vulnerable to valuation compression during macroeconomic interest rate spikes. The fund also remains exposed to US-China technological trade restrictions.

Four Layers of the AI Stack in One Fund

The Amplify Bloomberg AI Value Chain ETF spreads exposure across semiconductors, datacenter hardware, cloud platforms and software integration, roughly 45 to 55 global equities in all.

Its index caps individual constituents at 6.0%, which keeps any single mega-cap technology firm from dominating the fund's risk profile.