Guggenheim S&P Spin-Off ETF

NAV $53.24
Change ($1.31) / -2.40%
As of 3/22/18

Market Close $54.66
Change $0.42 / 0.77%
As of 3/21/18

Investment Objective

Guggenheim S&P Spin-Off ETF (CSD) seeks investment results that correspond generally to the performance, before the fund’s fees and expenses, of the S&P U.S. Spin-Off Index. CSD offers exposure to U.S. domiciled companies that have been spun-off from a parent company within the last four years and have a float-adjusted market capitalization of at least $1 billion.

Index Description

The S&P U.S Spin-Off Index is designed to measure the performance of U.S. companies that have been spun-off from a parent company within the last four years and have a float-adjusted market capitalization of at least $1 billion.

Fund Highlights

  • Access pure exposure to the spin-off sector.
  • Positioned to benefit from potential stock price appreciation that may accompany a spin-off.
  • Diversified exposure across a variety of industries.

Top Fund Holdings

Security Name % of Net Assets

Fund Profile

Fund Ticker CSD
Exchange NYSE Arca
iNAV Ticker CSD.IV
CUSIP 18383M605
Fund Inception Date 12/15/2006
Distribution Schedule (if any) Annually
Gross Expense Ratio 0.64%
Net Expense Ratio 0.64%
Fiscal Year-End 8/31
Index Ticker SPUSSOUP
Index Name S&P U.S. Spin-Off Index
Volume 6,826
Shares Outstanding 3,850,000
Total Assets $204,968,680
Investment Adviser Guggenheim Funds Investment Advisors, LLC
Distributor Guggenheim Funds Distributors, LLC

Net Asset Value (NAV)

NAV $53.24
Change ($1.31) | -2.40%
52-Week High $56.40
52-Week Low $45.00

Market Close

Closing Price $54.66
Change $0.42 | 0.77%
52-Week High $56.16
52-Week Low $44.92
Bid/Ask Midpoint $54.55
Premium/Discount 2.46%

Fund Characteristics

Number of Securities 55
Price to Earning (P/E) 13.86
Price to Book (P/B) 1.95

Fund Statistics

Beta 1.29
Standard Deviation 14.11

Current Distribution

Ex-Date 12/26/17
Record Date 12/27/17
Payable Date 12/29/17
Distribution per Share $0.314900

Index Methodology

The S&P U.S. Spin-Off Index is based on the S&P U.S. BMI. The index contains all spin-offs added to the S&P U.S. BMI that have a float-adjusted market capitalization of at least $1 billion. The index also contains split-offs added to, or already included in, the S&P U.S. BMI that have float-adjusted market capitalizations of at least $1 billion. Additions are made to the index on a monthly basis after the close of the third Friday of each month. Any eligible spin-offs occurring at least seven business days prior to the rebalancing date are included in the index at the monthly rebalancing. Constituents are included in the index for a maximum of 48 months. If a constituent has been in the index for 48 months, it is removed at the subsequent monthly rebalancing. In addition, any consituents removed from the S&P U.S. BMI are removed from the S&P U.S. Spin-Off Index simultaneously. If the deletion of a constituent at the monthly rebalancing would result in a constituent count of less than 20, the deletion will be delayed until the next rebalancing period in which the resulting constituent count would be at least 20.

Index Construction

  1. Universe. All companies must be constituents of the S&P U.S. BMI that have been spun off from a parent company withing the last four years.
  2. Weighting. Each constituent in the index is weighted by float-adjusted market capitalization, subject to a 7.5% cap for any single stock. Companies with multiple share class lines in the index have their weights combined with the sum total subject to the 7.5% cap.
  3. Deletions. Constituents are included in the index for a maximum of 48 months. Any constituent removed from the S&P U.S. BMI is removed from the S&P U.S. Spin-Off Index simultaneously.
  4. Size. Companies must have a float-adjusted market capitalization of at least USD 1 billion.
  5. Rebalancing. The index is rebalanced monthly, after the close of the third Friday of each month.

Risks and Other Considerations

Risk 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. Equity Risk: The value of the equity securities held by the fund will 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. Foreign Investment Risk: The fund’s investments in non-U.S. issuers, although generally limited to ADRs, may involve unique risks compared to investing in securities of U.S. issuers, including less market liquidity, generally greater market volatility than U.S. securities, and less complete financial information than for U.S. issuers. Consumer Discretionary Sector Risk: The success of consumer product manufacturers and retailers is tied closely to the performance of the overall domestic and international economy, interest rates, competitive and consumer confidence. Success depends heavily on disposable household income and consumer spending. Computer Technology Sector Risk: Competitive pressures may have a significant effect on the financial condition of companies in the computer/ technology sector. Also, many of the products and services offered by computer and technology companies are subject to the risks of short product cycles and rapid obsolescence. Small- and Medium-Sized Company Risk: Investing in securities of small- and medium-sized companies involves greater risk than is customarily associated with investing in larger, more established companies. Micro-Cap Company Risk: Micro-cap stocks involve substantially greater risks of loss and price fluctuations because their earnings and revenues tend to be less predictable (and some companies may be experiencing significant losses), and their share prices tend to be more volatile and their markets less liquid than companies with larger market capitalizations. MLP Risk: Investments in securities of MLPs involve risks that differ from an investment in common stock. Holders of the units of MLPs have more limited control and limited rights to vote on matters affecting the partnership. There are also certain tax risks associated with an investment in units of MLPs. Concentration Risk: If the index concentrates in an industry or group of industries, the fund’s investments will be concentrated accordingly. In such event, the value of the fund’s shares may rise and fall more than the value of shares of a fund that invests in securities of companies in a broader range of industries. In addition, the funds are subject to: Non-correlation risk, Replication Management Risk, Issuer-Specific Changes and Non-Diversified Fund Risk. 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.

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.

Read a prospectus and summary prospectus (if available) carefully before investing. It contains the investment objective, risks charges, expenses and the other information, which should be considered carefully before investing. To obtain a prospectus and summary prospectus (if available) click here or call 800.820.0888.

Investing involves risk, including the possible loss of principal.

Guggenheim Investments represents the investment management business of Guggenheim Partners, LLC ("Guggenheim"), which includes Security Investors, LLC ("SI"), Guggenheim Funds Investments Advisors, LLC ("GFIA") and Guggenheim Partners Investment Management ("GPIM") the investment advisors to the referenced funds.

© 2018 Guggenheim Investments. All Rights Reserved.

Research our firm with FINRA Broker Check.

• Not FDIC Insured • No Bank Guarantee • May Lose Value

This website is directed to and intended for use by citizens or residents of the United States of America only. The material provided on this website is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation. Investing involves risk, including the possible loss of principal.