The partnership between the two firms began in March of 2022 when Samsung AM purchased a minority interest in Amplify ETFs. The two sides have collaborated on two other ETFs, the Samsung Blockchain Technologies ETF, which is listed in Hong Kong, and the KODEX US Dividend Premium Active ETF, which is listed in Seoul.
SOF is the first fund that Samsung AM, through its New York office, is managing in the United States. The two firms will work together on other U.S.-based products in the future, Belden said.
As for SOF, it is currently available on most RIA platforms including Charles Schwab, Fidelity, and others, Belden said. It will become available on additional platforms as the firm receives approval. The fund has an expense ratio of 0.20%.
Amplify is optimistic that SOF will provide advisors and their clients with a major part of their portfolio that has been growing in importance for some time, Belden explained.
“What we’re trying to provide is more solutions to bigger pieces of client portfolios, certainly a cash alternative [that]has proven to be one that’s a key components of that and increasingly a bigger component of that in light of all the cash that’s been put into fixed income through 2023,” he said.