Amplify’s Miller: Energy, AI Driving Interest in NDIV and BATT

Nathan Miller, vice president of product development and management at Amplify, spoke at VettaFi’s 2026 Midyear Outlook Symposium at the end of June alongside VettaFi head of research Todd Rosenbluth. He attributed investor interest in two Amplify ETFs — NDIV and BATT — to higher energy prices and shifting AI-related demand for data-center power.

Miller pointed to the conflict between the U.S. and Iran as the main factor behind higher energy prices earlier in the year and noted prices have eased as the intensity of that conflict has fallen. He also traced changes in AI infrastructure demand, saying bottlenecks moved from semiconductors to data centers and now to reliable power for those facilities.

The Amplify Energy & Natural Resources Covered Call ETF, NDIV, combines dividend-paying energy stocks and monthly covered-call option premiums. NDIV charges a 59 basis point fee. Amplify data cited at the event showed NDIV returned 26.2% year-to-date and carried an 11.52% distribution rate.

On covered calls, Miller observed that the category has expanded rapidly but remains concentrated in benchmark-style exposures. He said covered-call strategies can be applied across different asset groups, including energy companies, to create a distinct source of total return.

The Amplify Lithium & Battery Technology ETF, BATT, follows a market-cap-weighted index of lithium and battery-related companies and also charges a 59 basis point fee. Miller linked rising energy costs to stronger consumer interest in hybrid and electric vehicles, which supports demand for battery technology. BATT returned 11.4% year-to-date according to figures Miller cited.

Miller proposed using NDIV and BATT together in a core-plus allocation to combine income generation with growth exposure to battery and energy markets. He said energy allocations could capture benefits from AI-related demand for reliable power without increasing direct holdings in AI stocks or data-center operators.

VettaFi serves as the index provider for BATT and receives index licensing fees. The firm was disclosed as not being involved in issuing, sponsoring, endorsing or selling BATT and having no obligation or liability related to the fund’s issuance, administration, marketing or trading.