Guggenheim S&P High Income Infrastructure ETF

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

Market Close $25.83
Change $0.36 / 1.41%
As of 3/21/18


Oct 2017 - Dec 2017

Greatest Premium (10/4/2017) 0.75% Number of days at:
Greatest Discount (12/5/2017) -0.12% Premium 52
# of Days within +0.5% and -0.5% 61 NAV 2
% of Days within +0.5% and -0.5% 0% Discount 9

Jul 2017 - Sep 2017

Greatest Premium (7/12/2017) 0.72% Number of days at:
Greatest Discount (9/5/2017) -0.39% Premium 51
# of Days within +0.5% and -0.5% 57 NAV 0
% of Days within +0.5% and -0.5% 0% Discount 12

Apr 2017 - Jun 2017

Greatest Premium (5/2/2017) 0.99% Number of days at:
Greatest Discount (5/17/2017) -0.27% Premium 55
# of Days within +0.5% and -0.5% 44 NAV 0
% of Days within +0.5% and -0.5% 0% Discount 8

Jan 2017 - Mar 2017

Greatest Premium (3/15/2017) 1.26% Number of days at:
Greatest Discount (1/18/2017) -0.67% Premium 58
# of Days within +0.5% and -0.5% 26 NAV 1
% of Days within +0.5% and -0.5% 0% Discount 3

Oct 2016 - Dec 2016

Greatest Premium (11/25/2016) 2.55% Number of days at:
Greatest Discount (11/4/2016) -0.22% Premium 58
# of Days within +0.5% and -0.5% 23 NAV 0
% of Days within +0.5% and -0.5% 0% Discount 5

Jul 2016 - Sep 2016

Greatest Premium (9/12/2016) 1.31% Number of days at:
Greatest Discount (7/7/2016) -0.22% Premium 53
# of Days within +0.5% and -0.5% 40 NAV 1
% of Days within +0.5% and -0.5% 0% Discount 10

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 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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• Not FDIC Insured • No Bank Guarantee • May Lose Value

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