Guggenheim BRIC ETF

NAV $38.68
Change ($0.93) / -2.35%
As of 3/22/18

Market Close $38.60
Change ($1.12) / -2.82%
As of 3/22/18


Oct 2017 - Dec 2017

Greatest Premium (11/6/2017) 0.49% Number of days at:
Greatest Discount (12/4/2017) -0.31% Premium 44
# of Days within +0.5% and -0.5% 63 NAV 1
% of Days within +0.5% and -0.5% 100% Discount 18

Jul 2017 - Sep 2017

Greatest Premium (9/15/2017) 0.34% Number of days at:
Greatest Discount (8/10/2017) -0.55% Premium 38
# of Days within +0.5% and -0.5% 62 NAV 2
% of Days within +0.5% and -0.5% 0% Discount 23

Apr 2017 - Jun 2017

Greatest Premium (5/24/2017) 0.39% Number of days at:
Greatest Discount (6/14/2017) -0.70% Premium 25
# of Days within +0.5% and -0.5% 60 NAV 3
% of Days within +0.5% and -0.5% 0% Discount 35

Jan 2017 - Mar 2017

Greatest Premium (2/3/2017) 0.50% Number of days at:
Greatest Discount (3/8/2017) -0.40% Premium 40
# of Days within +0.5% and -0.5% 62 NAV 2
% of Days within +0.5% and -0.5% 100% Discount 20

Oct 2016 - Dec 2016

Greatest Premium (11/7/2016) 0.62% Number of days at:
Greatest Discount (12/14/2016) -0.90% Premium 34
# of Days within +0.5% and -0.5% 54 NAV 3
% of Days within +0.5% and -0.5% 0% Discount 26

Jul 2016 - Sep 2016

Greatest Premium (9/28/2016) 0.44% Number of days at:
Greatest Discount (7/7/2016) -1.04% Premium 17
# of Days within +0.5% and -0.5% 54 NAV 2
% of Days within +0.5% and -0.5% 0% Discount 45

Chart Description

Shareholders 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. The chart above provides information about the difference between the daily market closing price for shares of the Fund and the Fund's net asset value (NAV). The chart's vertical axis shows the premium or discount expressed as a percentage of NAV. The horizontal axis indicates the number of trading days in the period covered by the chart. Each bar in the chart shows the number of trading days in which the Fund traded within the premium/discount range indicated.

Why is there a difference between NAV and Bid/Ask Midpoint?

The NAV represents the fund's assets less its liabilities on a per share basis as calculated by the fund's administrator. The bid/ask midpoint is the midpoint of the highest bid and lowest offer in the listing exchange at the time that the NAV is calculated, usually 4 p.m. EST. As a practical matter, information is constantly flowing to and among investors, corporations, and financial institutions that affects their outlook on the financial markets and the value of securities. This process, known as price discovery, is why market prices change and evolve throughout the trading day. It is important to note that even when markets are closed, the price discovery process continues 24 hours a day, 7 days a week, 365 days a year.

Reasons for Possible Timing Discrepancies:

1. Closing of Trading Times: The NAV of the GuggenheimShares ETFs normally is calculated using prices as of 4:00 p.m. Eastern Time. Each GuggenheimShares ETF normally trades on its respective stock exchange until 4:00 p.m. Eastern Time.
2. Time of Last Trade: Trading generally takes place throughout the normal trading hours for GuggenheimShares ETFs on the listing exchange on which it is listed (generally 9:30 a.m. - 4:00 p.m. Eastern Time). At times, many trades are placed in rapid succession. At other intervals, little or no trading activity may take place. It is important to note that the date/time of the last trade (which is recorded as the Market Close) may not take place at exactly 4:00 p.m. Eastern Time when the GuggenheimShares ETFs normally calculate NAV. The date/time of the last trade sometimes may occur before 4:00 p.m. Eastern Time. Thus, ongoing price discovery may result in a deviation between the price recorded as the Closing Price and the NAV of the fund shares calculated at 4:00 p.m. Eastern Time.

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. 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. China Investment Risk: Investing in securities of Chinese companies involves additional risks, including, but not limited to: the economy of China differs, often unfavorably, from the U.S. economy in such respects as structure, general development, government involvement, wealth distribution, rate of inflation, growth rate, allocation of resources and capital reinvestment, among others; the central government has historically exercised substantial control over virtually every sector of the Chinese economy through administrative regulation and/or state ownership; and actions of the Chinese central and local government authorities continue to have a substantial effect on economic conditions in China. In addition, previously the Chinese government has from time to time taken actions that influence the prices at which certain goods may be sold, encourage companies to invest or concentrate in particular industries, induce mergers between companies in certain industries and induce private companies to publicly offer their securities to increase or continue the rate of economic growth, control the rate of inflation or otherwise regulate economic expansion. From time to time, certain of the companies comprising the index that are located in China may operate in, or have dealings with, countries subject to sanctions or embargoes imposed by the U.S. government and the United Nations and /or in countries identified by the U.S. government as state sponsors of terrorism. Risks of Investing in Brazil, Russia and India: Brazil has experienced substantial economic instability, which has led to a high degree of price volatility in both the Brazilian equity and foreign currency markets. Securities of Russian companies are exposed to the absence of developed legal structures governing private or foreign investments and private property. Securities of Indian companies risk greater price volatility, substantially less liquidity and significantly smaller market capitalization of securities markets, more substantial governmental involvement, wealth distribution, rate of inflation, growth rate allocation of resources and capital reinvestment, among others. Oil/Energy Sector Risk: The profitability of companies in the oil/energy sector is related to worldwide energy prices, exploration and production spending. Such companies also are subject to risks of changes in exchange rates, government regulation, world events, depletion of resources and economic conditions. 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. 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. 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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