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.
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.
|Security Name||% of Net Assets|
|PAYPAL HOLDINGS INC||7.62%|
|HEWLETT PACKARD ENTERPRISE||7.48%|
|KEYSIGHT TECHNOLOGIES IN||3.89%|
|CDK GLOBAL INC||3.26%|
|LAMB WESTON HOLDINGS INC||3.15%|
|Fund Inception Date||12/15/2006|
|Distribution Schedule (if any)||Annually|
|Gross Expense Ratio||0.64%|
|Net Expense Ratio||0.64%|
|Index Name||S&P U.S. Spin-Off Index|
|Investment Adviser||Guggenheim Funds Investment Advisors, LLC|
|Distributor||Guggenheim Funds Distributors, LLC|
|Change||$0.42 | 0.77%|
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.
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.
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