Inside THNR: ETF focused on weight‑loss drug ecosystem

Amplify Investments manages the Amplify Weight Loss Drug & Treatment ETF, ticker THNR, which follows the VettaFi Weight Loss Drug & Treatment Index. The fund carries a 0.75% expense ratio and concentrates on companies tied to weight‑loss drugs and the services that support their use. Analysts and industry forecasts cited by the fund project the market could reach $130 billion to $150 billion by 2035.

A mid‑2026 snapshot of THNR shows large positions in established drugmakers and smaller biotech and healthcare‑services companies. Novo Nordisk accounted for about 9.96% of the fund and is the maker of Ozempic and Wegovy; the company is also developing oral GLP‑1 candidates and therapies targeting obesity‑related conditions. Eli Lilly made up roughly 9.10% and offers Zepbound and Mounjaro (tirzepatide); the company has expanded manufacturing capacity and its pipeline for weight‑loss treatments.

Hims & Hers represented about 5.74% of THNR. The telehealth company provides patient access to compounded GLP‑1 medications, a pathway some patients use when insurers limit coverage for branded therapies. Scholar Rock and Regeneron, at about 5.53% and 4.96% respectively, are developing treatments intended to preserve lean muscle during rapid weight loss. AbbVie held roughly 5.23% and has invested $350 million in ABBV‑295, a long‑acting amylin candidate that showed nearly 10% weight loss in 12 weeks in early trials.

Other top holdings included Innovent Biologics (about 5.20%), offering China exposure and a GLP‑1/glucagon candidate developed with Eli Lilly; Viking Therapeutics (around 5.11%), advancing VK2735, a dual GLP‑1/GIP program tested as a weekly injection and a daily oral pill with Phase 2 results showing 14.7% weight loss after 13 weeks; and Arrowhead Pharmaceuticals (around 5.08%), pursuing an RNA interference therapy targeting the Activin E pathway with reported reductions in visceral and liver fat when combined with tirzepatide.

AstraZeneca was listed near the top holdings at about 4.96% of the fund. The ETF’s index rebalance on March 11 increased AstraZeneca’s index allocation from 5.3% to 7.1%, reflecting the company’s development of oral small‑molecule GLP‑1 candidates intended to simplify manufacturing and broaden access.

THNR’s holdings reflect a thematic selection rather than broad healthcare exposure. The fund includes companies across drug development, manufacturing and digital care that serve the obesity treatment landscape. VettaFi serves as the index provider and receives an index licensing fee; VettaFi does not issue, sponsor or trade the ETF.

The fund description states its objective is to capture growth from current injectable GLP‑1 therapies and from next‑generation oral formulations, combination approaches, genetic treatments and therapies aimed at preserving muscle during weight loss. The composition and holdings cited are based on mid‑2026 data provided by the fund and the index.