Investment Objective

Guggenheim Total Return Bond ETF (GTO) seeks maximum total return, comprised of income and capital appreciation.

Highlights & Applications

  • Access to Guggenheim’s unique and award-winning capabilities that combine in-depth macro research, intensive fundamental research and legal analysis, and rigorous risk management.*
  • Multi-sector strategy investing primarily in investment grade fixed-income securities across multiple sectors.
  • An active investment approach offering the opportunity to capitalize on changing relative values in fixed-income securities/sectors.

Top Fund Holdings

as of 10/25/16 View All Holdings
US TREASURY N/B 1.5 8/15/2026 7.93%
REPO 11/10/2016 3.81%
STRIP PRINC 0 11/15/2044 2.04%
CAMPBELL SOUP CO 0% CP 10/27/2016 1.71%
FEDERAL FARM CREDIT BANK 2.99 3/29/2030 1.37%
FEDERAL FARM CREDIT BANK 3 4/11/2031 1.37%
LSTRZ 2015-1 A FRN 1/1/2020 1.29%

Fund Credit Quality Breakdown††

as of 6/30/16

Source: BlackRock Solutions. The fund credit quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). All securities except for those labeled “Not Rated” (NR) or “Other Fixed Income” have been rated by a Nationally Recognized Statistical Rating Organization (“NRSRO”). For purposes of this presentation, when ratings are available from more than one NRSRO, the highest rating is used. Guggenheim Investments converts ratings to the equivalent S&P rating.

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

*Thomson Reuters Lipper Fund Awards 2015 “Best Fixed-Income Funds - Small Fund Family.” The award is granted to the fund family with the lowest average decile ranking for Consistent Return, a measure of funds’ historical risk-adjusted returns, relative to peers over the 3-year period ending 12/31/2014. To qualify, a fund family must have at least three fixed income funds and less than $52.6 billion in assets under management as of 12.31.2014. Guggenheim Funds ranked 1 out of 73 eligible companies. In cases of identical results the lower average percentile rank will determine the winner. Lipper, a wholly owned subsidiary of Thomson Reuters, is a leading global provider of mutual fund information and analysis to fund companies, financial intermediaries and media organizations.

Fund Profile

as of 10/24/16
Symbol GTO
Exchange NYSE Arca
CUSIP 18385P705
Fund Inception Date 2/10/16
Distribution Schedule (if any) Monthly
Gross Expense Ratio 0.50 %
Net Expense Ratio 0.50 %
Fiscal Year-End 8/31
Investment Adviser Guggenheim Partners Investment Management
Distributor Guggenheim Funds Distributors, LLC
Volume 622
Shares Outstanding 550,000
Total Managed Assets $28,712,492

The expense ratio is expressed as a unitary fee and covers all expenses of the Fund, except for the fee payments under the investment advisory agreement, distribution fees, if any, brokerage expenses, taxes, interest, litigation expenses and other extraordinary expenses.

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 10/24/16 Price History
NAV  $52.20
Change $-0.06
52-Week High $52.55
52-Week Low $49.77

Market Close

as of 10/24/16 Price History
  Market Price 
Close  $52.27
Change $0.00
52-Week High $52.75
52-Week Low $48.84
Bid/Ask Midpoint  $52.27
Premium / Discount  0.12%
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.

Fund Characteristics

as of 6/30/16

Number of Securities87
Average Duration 4.40
Weighted Average Coupon 4.01

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

View Distribution History
Ex-Date 10/3/16
Record Date 10/5/16
Payable Date 10/7/16
Distribution per Share $0.116400

The extent the Current Distribution is comprised of something other than Income, such as Return of Capital, please refer to the applicable Rule 19a-1 Notice found on the Fund's website under the Literature section. If the Current Distribution is comprised solely from Income, a Rule 19a-1 Notice will not be produced and posted.

Past performance is not a guarantee of future results.



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. Investment Risk: An investment in the fund is subject to investment risk, including the possible loss of 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.

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.

Asset-Backed and Mortgage-Backed Securities Risk: Investors in ABS, including MBS and structured finance investments, generally receive payments that are part interest and part return of principal. These payments may vary based on the rate at which the underlying borrowers pay off their loans. Some asset-backed securities, including mortgage-backed securities, may have structures that make their reaction to interest rates and other factors difficult to predict, making their prices very volatile and they are subject to liquidity risk.

Credit/Default Risk: Issuers or guarantors of debt instruments or the counterparty to a repurchase agreement or loan of portfolio securities may be unable or unwilling to make timely interest and/or principal payments or otherwise honor its obligations.

Derivatives Risk: Derivatives may pose risks in addition to and greater than those associated with investing directly in securities or other investments, including risks relating to leverage, imperfect correlations with underlying investments or the fund’s other portfolio holdings, high price volatility, lack of availability, counterparty credit, liquidity, valuation and legal restrictions.

Emerging Markets Risk: Investment in securities of issuers based in developing or “emerging market” countries entails all of the risks of investing in securities of non-U.S. issuers, as previously described, but to a heightened degree.

Financial Services Sector Risk: The financial services industries are subject to extensive government regulation, can be subject to relatively rapid change due to increasingly blurred distinctions between service segments, and can be significantly affected by availability and cost of capital funds, changes in interest rates, the rate of corporate and consumer debt defaults, and price competition.

Foreign Issuers Risk: The fund may invest in U.S. and non-U.S. dollar-denominated bonds of foreign corporations, governments, agencies, and supra-national agencies, which have different risks than investing in U.S. companies.

High-Yield Securities Risk: High yield securities generally offer a higher current yield than that available from higher grade issues, but typically involve greater risk. Securities rated below investment grade are commonly referred to as “junk bonds.” The ability of issuers of high yield securities to make timely payments of interest and principal may be adversely impacted by adverse changes in general economic conditions, changes in the financial condition of the issuers, and price fluctuations in response to changes in interest rates.

Income Risk: Falling interest rates may cause the fund’s income to decline.

Interest Rate Risk: As interest rates rise, the value of fixed-income securities held by the fund are likely to decrease. Securities with longer durations tend to be more sensitive to interest rate changes, making them more volatile than securities with shorter durations.

Investments in Loans Risk: Investments in loans involve special types of risks, including credit risk, interest rate risk, counterparty risk and prepayment risk.

Leverage Risk: The fund’s use of leverage, whether through borrowings or through economic leverage from instruments such as derivatives, may cause the fund to be more volatile and riskier than if it had not been leveraged.

Management Risk: The fund is subject to management risk because it is an actively managed portfolio. In managing the fund’s portfolio securities, the investment advisor will apply investment techniques and risk analyses in making investment decisions for the fund, but there can be no guarantee that these will produce the desired results.

Municipal Securities Risk: Municipal securities are subject to the risk that litigation, legislation or other political events, local business or economic conditions or the bankruptcy of the issuer could have a significant effect on an issuer’s ability to make payments of principal and/or interest.

Non-Diversified Fund Risk: The fund is considered non-diversified and can invest a greater portion of assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund.

Portfolio Turnover Risk: The fund may engage in active and frequent trading of its portfolio securities in connection with the rebalancing of the index, and therefore the fund’s investments.

Risk of Deviation Between Market Price and NAV: Unlike conventional ETFs, the fund is not an index fund. The fund is actively managed and does not seek to replicate the performance of a specified index. There can be no assurance as to whether and/or the extent to which the shares will trade at premiums or discounts to NAV.

In addition, the fund is subject to additional risks and other considerations not mentioned above. Please read the prospectus for additional information.

As with any investment, you should consider how your investment will be taxed. The tax information contained in the prospectus is provided as general information. Investors should consult their own tax professional about the tax consequences of an investment as Guggenheim Funds Distributors, LLC does not offer tax advice.

The Fund will issue and redeem Shares at NAV only in a large specified number of Shares called a “Creation Unit” or multiples thereof. A Creation Unit consists of 100,000 Shares. Creation Unit transactions are typically conducted in exchange for the deposit or delivery of in kind securities and/or cash. Except when aggregated in Creation Units, the Shares are not redeemable securities of the Fund. Individual Shares of the Fund may only be purchased and sold in secondary market transactions through brokers. Shares of the Fund are listed for trading on the NYSE Arca, Inc. (“NYSE Arca”) and because Shares trade at market prices rather than NAV, Shares of the Fund may trade at a price greater than or less than NAV.

Investors buying or selling ETF shares on the secondary market may incur brokerage costs and other transactional fees. Shares of ETFs may fluctuate in price due to daily changes in trading volume. At times, shares may not have a high volume of trading.


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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