Guggenheim S&P High Income Infrastructure ETF

NAV $25.46
Change ($0.21) / -0.82%
As of 3/22/18

Market Close $25.30
Change ($0.53) / -2.05%
As of 3/22/18

Investment Objective

Guggenheim S&P High Income Infrastructure ETF (GHII) seeks investment results that correspond generally to the performance, before the fund’s fees and expenses, of an equity index called the S&P High Income Infrastructure Index (the “Index”). GHII will invest in the 50 highest-yielding global equity securities of companies that engage in various infrastructure-related industries. Securities are selected from global companies, trading on exchanges in developed countries.

Index Description

The S&P High Income Infrastructure Index is designed to serve as a benchmark for yield-seeking equity investors looking for infrastructure exposure. The index is composed of the 50 highest-dividend-paying companies within the S&P Global BMI that operate in the energy, transportation, and utilities sectors.

Fund Highlights

  • Performance Potential: Seeks to provide access to the 50 highest-yielding securities in the global infrastructure market, a segment that may be poised for strong growth as the global population expands and standards of living around the world continue to improve.
  • Unique Yield-Weighted Approach: By strategically yield-weighting its assets. GHII seeks to increase dividend income, while also providing the opportunity for capital appreciation.
  • Lower Correlation: Global infrastructure securities may provide a lower correlation to traditional asset classes, such as stocks and bonds, and potentially act as a hedge against inflation.*

    *Source: S&P Dow Jones Indices LLC, ‘Approaches to Benchmarking Listed Infrastructure’, 9.2014.
    *Correlation is a measurement between -1 and 1, which indicates the linear relationship between two variables.

Top Fund Holdings

Security Name % of Net Assets
SNAM SPA 3.13%

Fund Profile

Fund Ticker GHII
Exchange NYSE Arca
CUSIP 18383Q721
Fund Inception Date 2/11/2015
Distribution Schedule (if any) Quarterly
Gross Expense Ratio 0.45%
Net Expense Ratio 0.45%
Fiscal Year-End 8/31
Index Ticker SPHIIU
Index Name S&P High Income Infrastructure Index
Volume 17,454
Shares Outstanding 1,250,000
Total Assets $31,819,878
Investment Adviser Guggenheim Funds Investment Advisors, LLC
Distributor Guggenheim Funds Distributors, LLC

Net Asset Value (NAV)

NAV $25.46
Change ($0.21) | -0.82%
52-Week High $29.33
52-Week Low $25.13

Market Close

Closing Price $25.30
Change ($0.53) | -2.05%
52-Week High $29.31
52-Week Low $25.11
Bid/Ask Midpoint $25.39
Premium/Discount -0.27%

Fund Characteristics

Number of Securities 53
Price to Earning (P/E) 16.87
Price to Book (P/B) 1.36

Fund Statistics

Beta 0.75
Standard Deviation 11.61

Current Distribution

Ex-Date 12/26/17
Record Date 12/27/17
Payable Date 12/29/17
Distribution per Share $0.697800

Index Methodology

The Index is designed to measure and monitor the performance of fifty high-yielding global equity securities of companies that engage in various infrastructure-related sub-industries. Index constituents must meet size, listing and liquidity requirements and also be part of the S&P Global BMI Index, which is a rules-based index that measures global stock market performance. The Index employs a yield-weighted methodology that weights all constituents by their twelve month dividend yield over the prior twelve months. The Index was created by the S&P Dow Jones Index Group and is maintained by S&P Dow Jones Indices, LLC.

Index Construction

S&P High Income Infrastructure Index

  1. Parent Index and Listing Requirements. Eligible securities must be components of the S&P Global BMI Index that are listed on a developed stock exchange.
  2. Infrastructure Company Exposure. Eligible securities must be equity securities of companies classified in one of the Infrastructure Clusters. The Infrastructure Clusters are formed based on the GICS sub-industry classifications as follows:
    • Energy Cluster:
      Oil & Gas Storage & Transportation Sub-Industry
    • Transportation Cluster:
      Airport Services Sub-Industry
      Highway & Railtracks Sub-Industry
      Marine Ports & Services Sub-Industry
    • Utilities Cluster:
      Electric Utilities Sub-Industry
      Gas Utilities Sub-Industry
      Multi Utilities Sub-Industry
      Water Utilities Sub-Industry
    • Market Capitalization. Securities must have float adjusted market capitalization of $250 million and above as of the reference date.
    • Liquidity. Securities must have a three-month average daily value traded of $1 million or higher as of the reference date.
    • High Yield Securities. The top 50 highest yielding securities (based on their 12-month dividend yield over the prior 12 months at the most recent Index rebalancing date) that meet the requirements described above form the Index.
    • Weighting Methodology. Index constituents are weighted based on their twelve-month dividend yield over the prior twelve months. The maximum weight of a particular security is 5% of the Index and the maximum weight of each Infrastructure Cluster is 50% of the Index.
    • Chinese Company Exposure. The Index may include Hong Kong listed securities, including China H-shares. China H-shares are issued by companies incorporated in mainland China and listed on the Hong Kong Stock Exchange. The Index does not currently include China A-Shares (which are subject to substantial restrictions on foreign investment) or China B-Shares (which offer a generally smaller market and limited liquidity), each of which trade on the Shanghai Stock Exchange and the Shenzhen Stock Exchange.
    • Reconstitution and Rebalance. The Index Administrator reconstitutes the Index on a semi-annual basis. The reference dates are the last trading days of June and December. Changes are effective after the close of the third Friday following the reference date. New securities will be added to the Index if they meet the eligibility requirements described above. Any additions will be funded on a pro-rata basis from the remainder of the Index, net of deletions. Securities will be deleted from the Index if they no longer meet the eligibility requirements described above. The Index will be rebalanced semi-annually to accommodate any additions or deletions to the Index and to enforce the target weights as described above. Once set, either initially or at a semi-annual rebalance, target weights are free to float due to market actions.
    • Index Methodology Changes. The Index Committee meets semi-annually to review the methodology. Any changes to the methodology will be publicly disclosed five days prior to implementation. All methodology changes, as well as the current version of the methodology, are available at

Risks and Other Considerations

Risk Considerations Guggenheim S&P High Income Infrastructure ETF (the “fund”) may not be suitable for all investors. The fund is subject to the risk that medium, small and micro-capitalization stocks may underperform other segments of the equity market or the equity market as a whole. The fund is subject to the risk that unanticipated early closings of securities exchanges and other financial markets may result in the fund’s inability to buy or sell securities or other financial instruments on that day. In certain circumstances, it may be difficult for the fund to purchase and sell particular investments within a reasonable time at a fair price. Investments in securities, in general, are subject to market risks that may cause their prices to fluctuate over time. An investment in the fund may lose money. Unlike many investment companies, the fund is not actively “managed.” This means that based on market and economic conditions, the fund’s performance could be lower than other types of funds that may actively shift their portfolio assets to take advantage of market opportunities or to lessen the impact of a market decline. Tracking error risk refers to the risk that the fund’s performance may be unable to match or correlate to that of the fund’s Underlying Index, either on a daily or aggregate basis. Tracking error risk may cause the funds’ performance to be less than expected. Shares may trade below their net asset value (“NAV”). The NAV of shares will fluctuate with changes in the market value of the fund’s holdings. In addition, although the fund’s shares are currently listed on NYSE Arca, Inc. (the “Exchange”), there can be no assurance that an active trading market for shares will develop or be maintained. The fund’s investments in foreign securities carry additional risks when compared to U.S. securities, due to the impact of diplomatic, political or economic developments in the country in question (investments in emerging markets securities are generally subject to an even greater level of risks). Investing in companies within one of the sectors (particularly, energy, industrials, utilities and infrastructure clusters) may cause greater fluctuations in the value of the fund’s shares. The fund is considered non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single security could cause greater fluctuations in the value of the fund’s shares than would occur in a more diversified fund. Please read the fund’s 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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