Guggenheim MSCI Global Timber ETF (CUT) seeks investment results that correspond generally to the performance, before the fund’s fees and expenses, of the MSCI ACWI IMI Timber Select Capped Index.
The MSCI ACWI IMI Timber Select Capped Index is designed to measure the performance of securities that are engaged in the ownership and management of forests and timberlands and production of finished products which use timber as raw material. The index captures large, mid and small-cap stocks across 23 developed markets countries and 23 emerging markets countries.
|Security Name||% of Net Assets|
|INTERNATIONAL PAPER CO||4.46%|
|PACKAGING CORP OF AMERICA||4.32%|
|STORA ENSO OYJ||4.18%|
|SMURFIT KAPPA GROUP PLC||4.06%|
|AVERY DENNISON CORP||3.80%|
Among Natural Resources Funds
The fund was rated, based on its risk-adjusted returns, 5 stars for 3 years, 4 stars for 5 years, 4 stars for 10 years, and 4 stars Overall out of 127, 116, 72, and 127 Natural Resources funds, respectively.
|Fund Inception Date||11/9/2007|
|Distribution Schedule (if any)||Annually|
|Gross Expense Ratio||0.70%|
|Net Expense Ratio||0.57%|
|Index Name||MSCI ACWI IMI Timber Select Capped Index|
|Investment Adviser||Guggenheim Funds Investment Advisors, LLC|
|Distributor||Guggenheim Funds Distributors, LLC|
|Change||($0.85) | -2.57%|
The MSCI ACWI IMI Timber Select Capped Index is based on its parent index–the MSCI ACWI Investable Market Indexes (IMI) (the "Parent Index") which captures large, mid and small-cap stocks across 23 developed markets countries and 23 emerging markets countries. The index is designed to reflect the performance of those stocks in the Parent Index that are engaged in the ownership and management of forests and timberlands and production of finished products which use timber as raw material. For example, the index includes companies engaged in the production of forest products, paper products and paper packaging products.
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. Global Timber Industry Risk: As the Index is comprised of issuers in the global timber industry, the fund is therefore focused in that industry. Accordingly, the fund may be subject to more risks than if it were broadly diversified over numerous industries and sectors of the economy. The market value of securities of global timber companies may be affected by numerous factors, including events occurring in nature and international politics. The volume and value of timber that can be harvested from timberlands may be limited by natural disasters and other events. In periods of poor logging conditions, global timber companies may harvest less timber than expected. Global timber companies involved in the forest, paper and packaging products industries are highly competitive globally, and no single company is dominant. These industries have suffered, and continue to suffer, from excess capacity. Global timber companies are subject to many federal, state and local environmental, health and safety laws and regulations. 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. 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. 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.
*The Morningstar Rating for funds, or “star rating”, is calculated for managed products with at least a three-year history and does not include the effect of sales charges. Exchange-traded funds and open-end mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.
© 2018 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
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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