BNAV ETF — Amplify Fairlead Tactical Bitcoin ETF

Amplify Fairlead Tactical Bitcoin ETF (BNAV)

Updated October 16, 2026.

BNAV is an ETF linked to Bitcoin ETP Options. its expense ratio is 0.74%. Total return is 27.1% over the past 0.2 years, 1.1 points behind IBIT at 28.2%.

Amplify Fairlead Tactical Bitcoin ETF listed on Cboe BZX on July 29, 2026. The fund is actively managed by Katie Stockton, CMT of Fairlead Asset Management (sub-adviser to Amplify Investments) and uses a rules-based technical framework to toggle bitcoin exposure between roughly 70% and 150% of net assets — holding a 70% core at all times, levering up to 150% when daily, weekly, and monthly trend signals align, and reverting to the core when the long-term trend weakens. BNAV does not hold bitcoin directly; exposure comes from bitcoin ETPs, bitcoin ETP options (including FLEX options), and bitcoin futures, and its opening book was a synthetic long built from IBIT calls and short puts. The 0.74% expense ratio buys active technical management rather than passive spot exposure, and the leverage sleeve means drawdowns can exceed bitcoin's own. This is a capital-appreciation vehicle, not an income one — the fund schedules a single annual distribution in December and has none on record yet.

BNAV performance versus IBIT

Price and return data through 2026-10-16.

Total return is 27.1% over the past 0.2 years, 1.1 points behind IBIT at 28.2%.

BNAV key facts

Issuer

Amplify ETFs

Asset type

ETF

Asset class

Equity

Inception date

07/29/2026

Expense ratio

0.74%

Distribution frequency

Annual

Last close

$31.69 (stale; as of 2026-10-16)

AUM

$3,216,448

Average volume

5300.0

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Amplify ETFs or company page; Index: Bitcoin ETP Options; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

BNAV risks and drawbacks

Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed IBIT over the available window.

Who may consider BNAV — and who may not

It is a weaker fit for investors who need monthly cash flow (BNAV pays annual); investors whose main goal is matching IBIT total return. This is educational context, not a recommendation to buy or sell.

More on BNAV

• All tickers starting with B

Tagged: Bitcoin, Crypto, Options, Leverage.

Frequently asked questions

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