DJD

Guggenheim Dow Jones Industrial Average Dividend ETF

 

Investment Objective

Guggenheim Dow Jones Industrial Average® Dividend ETF (DJD) seeks investment results that correspond generally to the performance, before the fund’s fees and expenses, of the Dow Jones Industrial Average® Yield Weighted index.

Highlights & Applications

  • Large, Recognized Companies—Comprised of well-known, mega-cap U.S. companies found in the DJIA®.
  • Unique Yield-Weighted Strategy—Offers an alternative, strategic beta approach to the DJIA® by weighting each security by dividend yield, rather than price.
  • Performance Potential—Combining the DJIA’s securities with a dividend-focus may enhance performance over time.

Top Fund Sectors

as of 9/30/16

SECTOR WEIGHTING
Industrials 18.88 %
Information Technology 18.37 %
Health Care 13.41 %
Consumer Staples 11.38 %
Financials 11.03 %
Energy 9.53 %
Consumer Discretionary 9.48 %
Telecommunication Services 5.30 %
Materials 2.62 %


All data is provided by Guggenheim Funds Distributors, Inc. or Morningstar. Data is subject to change on a daily basis and represents a percentage of the Fund’s holdings excluding cash, except where noted. The securities mentioned are provided for informational purposes only and should not be deemed as a recommendation to buy or sell.

Fund Profile

as of 12/2/16
Symbol DJD
Exchange NYSE Arca
NAV Symbol (IIV) DJDIV
CUSIP 18383M175
Fund Inception Date 12/16/15
Distribution Schedule (if any) Quarterly
Gross Expense Ratio 0.30 %
Net Expense Ratio 0.30 %
Fiscal Year-End 8/31
Investment Adviser Guggenheim Funds Investment Advisors, LLC
Distributor Guggenheim Funds Distributors, LLC
Dow Jones Industrial Average® Yield WeightedDJIYWT
Index Provider S&P Dow Jones Indices LLC
Volume 3,720
Shares Outstanding 150,000
Total Managed Assets $4,224,780

The gross expense ratio reflects the fund’s actual total annual operating expense ratio, gross of any fee waivers or expense reimbursements as of its most recent prospectus.

Net Asset Value

as of 12/2/16 Price History
NAV  $28.17
Change $-0.01
52-Week High $28.26
52-Week Low $23.02

Market Close

as of 12/1/16 Price History
  Market Price 
Close  $28.16
Change $-0.22
52-Week High $28.41
52-Week Low $23.17
Bid/Ask Midpoint  $28.24
Premium / Discount  0.21%
Premium / Discount Historical Download1

1Shareholders may pay more than net asset value when they buy shares of an ETF and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices.

NAV is the price per share at which each Fund issues and redeems shares. The net asset value per share for each Fund is determined once daily as of the close of the listing exchange, usually 4:00 p.m. Eastern time, each day the listing exchange is open for trading. NAV per share is determined by dividing the value of the Fund’s portfolio securities, cash and other assets (including accrued interest), less all liabilities (including accrued expenses), by the total number of shares outstanding.

In general, market price represents what the fund is trading at.

The closing price is the price of the last reported trade on any exchange on which the Fund trades before the market closes, usually at 4 pm Eastern time.

The bid/ask midpoint is the midpoint of the highest bid and lowest offer on the listing exchange at the time that the NAV is calculated, usually 4 pm Eastern time.

The premium/discount is the amount the Fund is trading higher (“premium”) or lower (“discount”) to its NAV, expressed as a percentage of its bid/ask midpoint to its NAV. A positive number indicates it’s trading at premium and a negative number indicates it’s trading at a discount.

Index Description

Dow Jones Industrial Average® Yield Weighted index is designed to provide increased exposure to higher yielding companies included in the Dow Jones Industrial Average® (DJIA), which is a price-weighted index of 30 U.S. blue-chip companies that meet certain size, listing, and liquidity requirements. The DJIA Yield Weighted index is calculated using a yield-weighted methodology that weights all securities of the DJIA® by their twelve-month dividend yield. Only companies with a track record of consistent dividend payments in the previous twelve-months are eligible for inclusion.

Fund Characteristics

as of 9/30/16

Number of Securities31
Average Market Capitalization $189.7 Bil
Price/Earnings (P/E) 19.9 x
Price/Book (P/B) 3.2 x

P/E ratio is a harmonic weighted average and is equal to a security’s market capitalization divided by it after-tax earnings over the most recent 12-month period.

P/B ratio is a harmonic weighted average and is equal to a security’s market capitalization divided by its book value.

Alpha is a statistical measurement that depicts the performance difference between a fund’s return and an underlying performance benchmark, given a fund’s level of volatility, measured by beta. The benchmark will always reflect an alpha of 0.00%. A positive alpha indicates a fund has performed better than its beta would predict in the stated period.

Beta is the measure of a fund’s sensitivity to an index. By definition, the beta of an index is 1.00. Any fund with a higher beta is more volatile than the index. Likewise, any portfolio with a lower beta will be less volatile than the index in the stated period.

Standard deviation is a measure of historical volatility that indicates the degree to which an investment’s returns fluctuate around its average return. Generally, a higher standard deviation indicates a more risky investment.

Average market capitalization is the geometric mean of the market capitalization s for all securities in a fund’s portfolio.

Weighted average coupon is calculated by weighting each bond’s coupon by its relative size in the portfolio.

Weighted average bond price is a weighted average of individual bond prices.

Weighted average option-adjusted duration is a weighted average which measures the sensitivity of the price (the value of principal), incorporating the expected duration-shortening effect of an embedded call provision, of a fixed-income investment to a change in interest rates. The larger the duration number, the greater the interest-rate risk for bond prices.

Average maturity is the length of time until the principal amount of a bond must be repaid.

Average effective duration measures the sensitivity of the price (value of principal) of a fixed income investment to a change in interest rates. The larger the duration number, the greater the interest rate risk for bond prices.

Current Distribution

There are no Distributions to display.

INDEX METHODOLOGY

Dow Jones Industrial Average® Yield Weighted Index

The Index is designed to provide exposure to high-yielding equity securities of companies included in the Dow Jones Industrial Average®, which is a price-weighted index of 30 U.S. blue-chip companies. The Index is calculated using a yield-weighted methodology that weights all components of the Dow Jones Industrial Average® by their twelve month dividend yield over the prior twelve months. Index constituents must be a part of the Dow Jones Industrial Average®. Only securities with a track record of consistent dividend payments in the previous twelve months will be eligible for inclusion in the Index. The Index is rebalanced semi-annually. The Index was developed by S&P Dow Jones Indices LLC.

INDEX CONSTRUCTION

  1. Parent Index and Listing Requirements. Eligible securities must be components of the Dow Jones Industrial Average, which is a price-weighted index of 30 U.S. blue-chip companies that meet certain size, listing and liquidity requirements.
  2. Weighting Methodology. Index constituents must be members of the Dow Jones Industrial Average. Eligible securities are weighted based upon their twelve-month dividend yield over the prior twelve months, computed at the rebalancing date. Only securities with a track record of consistent dividend payments in the previous twelve months will be eligible for inclusion in the Index.
  3. Reconstitution and Rebalance. Standard & Poor’s, the index administrator, reconstitutes the Index on an as-needed basis. Constituent changes are generally disclosed publicly one to five days before they are scheduled to be implemented. The Index is rebalanced on a semi-annual basis. The reference dates are the last trading day of February and August. Changes are effective after the close of the third Friday in March and September. Any companies added to or deleted from the Dow Jones Industrial Average will be added to or deleted from the Index on the next rebalancing date.
  4. Index Methodology Changes. The S&P Index Committee meets semi-annually to review the methodology. Any changes to the methodology will be publicly disclosed five days prior to implementation. All methodology changes, as well as the current version of the methodology, are available at www.spindices.com.

RISKS AND OTHER CONSIDERATIONS

Investors should consider the following risk factors and special considerations associated with investing in the fund, which may cause you to lose money, including the entire principal amount that you invest.

Performance displayed represents past performance, which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than original cost. Total returns reflect the reinvestment of all dividends. Current performance may be lower or higher than the performance data quoted. For up-to-date fund performance, including performance current to the most recent month-end, please visit the ETF performance page. ETFs are subject to third party transaction fees/commissions. Net asset value (NAV) is calculated by subtracting total liabilities from total assets, then dividing by the number of shares outstanding. Market close is the last price at which shares are traded. Fund shares may trade at, above or below NAV. For additional information, see the fund’s prospectus.

Performance results for periods under one year are short-term and may not provide an adequate basis for evaluating the performance potential of the fund over varying market conditions or economic cycles.

The Dow Jones Industrial Average Dividend ETF may not be suitable for all investors. The value of the equity securities held by the Fund may fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, or factors relating to specific companies in which the Fund invests. • The fund is subject to the risk that dividend-paying stocks held by the Fund may reduce or stop paying dividends, which could adversely affect the Fund’s ability to generate income. • Unlike many investment companies, the Fund is not “actively” managed. This means that, based on market and economic conditions, the Fund’s performance could be lower than other types of mutual funds that may actively shift their portfolio assets to take advantage of market opportunities or to lessen the impact of a market decline. • Non-Correlation risk refers to the risk that the Advisor may not be able to cause the Fund’s performance to match or correlate to that of the Fund’s Underlying Index, either on a daily or aggregate basis. Non-Correlation risk may cause the Fund’s performance to be less than you expect. • Shares may trade below their net asset value (“NAV”). The NAV of shares will fluctuate with changes in the market value of the Fund’s holdings. In addition, although the Fund’s shares are currently listed on NYSE Arca, Inc. (the “Exchange”), there can be no assurance that an active trading market for shares will develop or be maintained. • This fund is considered non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single security could cause greater fluctuations in the value of fund shares than would occur in a more diversified fund • Please read the prospectus for more detailed information regarding these and other risks.

Fund data is subject to change on a daily basis.

Composition is subject to change. Information provided is for illustration purposes only and may not reflect current investments by the fund. Referenced companies are not affiliated with Guggenheim Investments and Guggenheim Investments does not sponsor, endorse, sell or promote the referenced companies.

The “Dow Jones Industrial Average” is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by Guggenheim Investments and its affiliates. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); DJIA®, The Dow®, Dow Jones® and Dow Jones Industrial Average are trademarks of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by Guggenheim Investments. Guggenheim Dow Jones Industrial Average Dividend ETF is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product nor do they have any liability for any errors, omissions, or interruptions of the Dow Jones Industrial Average.

 

Read a prospectus and summary prospectus (if available) carefully before investing. It contains the investment objectives, risks, charges, expenses and other information, which should be considered carefully before investing. To obtain a prospectus and summary prospectus (if available) click here or contact us.

Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC ("Guggenheim"), which includes Security Investors, LLC ("SI"), Guggenheim Funds Investment Advisors, LLC, ("GFIA") and Guggenheim Partners Investment Management ("GPIM") the investment advisers to the referenced funds. Securities offered through Guggenheim Funds Distributors, LLC, an affiliate of Guggenheim, SI, GFIA and GPIM.

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