Guggenheim Mid-Cap Core ETF

NAV $63.02
Change ($1.25) / -1.94%
As of 3/23/18

Market Close $63.01
Change ($1.26) / -1.96%
As of 3/23/18

Investment Objective

Guggenheim Mid-Cap Core ETF (CZA) seeks investment results that correspond generally to the performance, before the fund’s fees and expenses, of the Zacks Mid-Cap Core Index.

Index Description

The Zacks Mid-Cap Core Index uses quantitative methodologies to identify a group of securities that have the potential to outperform indices such as the Russell Midcap Index or the S&P MidCap 400 Index, from a universe of mid-capitalization securities, including master limited partnerships (“MLPs”) and American depositary receipts (ADRs").

Fund Highlights

  • Seeks to provide exposure to companies with a superior risk-return profile as determined by Zacks Investment Research, Inc.
  • Rebalanced quarterly to assure timely stock selections.

Top Fund Holdings

Security Name % of Net Assets

Overall Morningstar RatingTM*

as of 12/31/2017
Among Mid-Cap Blend Funds

The fund was rated, based on its risk-adjusted returns, 5 stars for 3 years, 5 stars for 5 years, 5 stars for 10 years, and 5 stars Overall out of 359, 324, 220, and 359 Mid-Cap Blend funds, respectively.

Fund Profile

Fund Ticker CZA
Exchange NYSE Arca
iNAV Ticker CZA.IV
CUSIP 18383M720
Fund Inception Date 4/2/2007
Distribution Schedule (if any) Annually
Gross Expense Ratio 0.74%
Net Expense Ratio 0.65%
Fiscal Year-End 08/31
Index Ticker ZAXMC
Index Name Zacks Mid-Cap Core Index
Volume 9,062
Shares Outstanding 3,900,000
Total Assets $245,760,505
Investment Adviser Guggenheim Funds Investment Advisors, LLC
Distributor Guggenheim Funds Distributors, LLC

Net Asset Value (NAV)

NAV $63.02
Change ($1.25) | -1.94%
52-Week High $68.94
52-Week Low $57.20

Market Close

Closing Price $63.01
Change ($1.26) | -1.96%
52-Week High $68.99
52-Week Low $57.34
Bid/Ask Midpoint $63.04
Premium/Discount 0.03%

Fund Characteristics

Number of Securities 100
Price to Earning (P/E) 18.64
Price to Book (P/B) 2.26

Fund Statistics

Beta 0.94
Standard Deviation 10.13

Current Distribution

Ex-Date 12/26/17
Record Date 12/27/17
Payable Date 12/29/17
Distribution per Share $0.720300

Index Methodology

The Index methodology is published at The Index selection methodology is designed to identify securities with potentially superior risk-return profiles as determined by Zacks. The Index seeks to select a group of securities with the potential to outperform indices such as the Russell Midcap Index or the S&P MidCap 400 Index and other benchmark indices on a risk-adjusted basis.

The Index constituent selection methodology utilizes multi-factor proprietary selection rules to identify those securities that offer the greatest potential from a risk/return perspective. The approach is specifically designed to enhance investment applications and investability. The Index is adjusted quarterly.

Index Construction

  1. Potential Index constituents include all common stocks, ADRs, MLPs and BDCs listed on major domestic exchanges. The universe is limited to the mid-capitalization universe as defined by Zacks, which consists of those securities that rank between the 7th percentile and 25th percentile of an ordinal ranking of all domestic equities based on descending market capitalization (which currently translates to a range from approximately $2 billion in market capitalization to $16 billion in market capitalization).
  2. Each security is ranked using a quantitative rules-based methodology that includes broker recommendation changes, valuation, liquidity, contrarian indicators, and other factors and is sorted from highest to lowest. The constituent selection methodology was developed by Zacks as a quantitative approach to identifying those securities that offer the greatest return potential on a risk-adjusted basis.
  3. The Index is comprised of the 100 highest-ranking securities chosen using a rules-based quantitative ranking methodology proprietary to Zacks. The constituents are weighted based on relative market capitalization.
  4. The constituent selection process as well as the ranking, reconstitution, and rebalancing of the Index is repeated quarterly.

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. 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. Medium-Sized Company Risk: Investing in securities of medium-sized companies involves greater risk than is customarily associated with investing in more established companies. These companies’ securities may be more volatile and less liquid than those of more established companies. These securities may have returns that vary, sometimes significantly, from the overall stock market. 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. Risks of Investing in Other Investment Companies: Investments in securities of other investment companies involve risks, including, among others, the fact that shares of other investment companies are subject to the management fees and other expenses of those companies, and the purchase of shares of some investment companies (in the case of closed-end investment companies) may sometimes require the payment of substantial premiums above the value of such companies’ portfolio securities or net asset values. Risk of Investing in BDCs: There are certain risks inherent in investing in BDCs, whose principal business is to invest in and lend capital to privately held companies. 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. 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.

*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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