Wilshire Micro-Cap ETF

NAV $34.61
Change ($0.45) / -1.28%
As of 3/22/18

Market Close $35.30
Change $0.82 / 2.38%
As of 3/21/18

Investment Objective

Wilshire Micro-Cap ETF (WMCR) seeks investment results that correspond generally to the performance, before the fund’s fees and expenses, of the Wilshire US Micro-Cap IndexSM. WMCR invests in micro-capitalization companies, including real estate investment trusts and business development companies.

Index Description

The Wilshire US Micro-Cap Index is a rules-based index comprised of securities of micro-capitalization companies.

Fund Highlights

  • Offers potential for enhanced returns by investing in companies that are early in their growth cycle.
  • Gain pure exposure to the micro-cap segment of the marketplace.
  • Provides an attractive opportunity to round out a small-cap segment in a portfolio.

Top Fund Holdings

Security Name % of Net Assets

Fund Profile

Fund Ticker WMCR
Exchange NYSE Arca
CUSIP 18383M308
Fund Inception Date 9/21/2006
Distribution Schedule (if any) Annually
Gross Expense Ratio 0.58%
Net Expense Ratio 0.58%
Fiscal Year-End 8/31
Index Ticker W5KMICRO
Index Name Wilshire US Micro-Cap Index
Volume 1,705
Shares Outstanding 800,800
Total Assets $27,717,412
Investment Adviser Guggenheim Funds Investment Advisors, LLC
Distributor Guggenheim Funds Distributors, LLC

Net Asset Value (NAV)

NAV $34.61
Change ($0.45) | -1.28%
52-Week High $35.41
52-Week Low $29.35

Market Close

Closing Price $35.30
Change $0.82 | 2.38%
52-Week High $36.92
52-Week Low $28.93
Bid/Ask Midpoint $34.97
Premium/Discount 1.03%

Fund Characteristics

Number of Securities 806
Price to Earning (P/E) 15.85
Price to Book (P/B) 1.69

Fund Statistics

Beta 0.77
Standard Deviation 14.44

Current Distribution

Ex-Date 12/26/17
Record Date 12/27/17
Payable Date 12/29/17
Distribution per Share $0.682200

Index Construction

The Index methodology is published at www.wilshire.com/Indexes/Wilshire/MicroCap/.

  1. To be included in the Wilshire Micro-Cap, an issue must:
    • Be the primary equity issue: a common stock or REIT;
    • Have its primary market listing in the United States;
    • Not be a bulletin-board issue, defined as a traded security that is not listed on NASDAQ or other national security exchange. These issues are not included because they generally do not consistently have readily-available prices;
    • For initial inclusion in the Wilshire Micro-Cap, be below the 2,500 issue by market capitalization in the Wilshire 5000 on March and September of each year.
    • For ongoing inclusion:
      • constituents of the Wilshire Micro-Cap ranked among the largest 2,000 issues by market capitalization within the Wilshire 5000 on March and September of each year replace the lowest ranked constituents of the Wilshire US Small-Cap Index; and
      • a component security cannot be a constituent of the Wilshire US Small-Cap Index.
      • The company’s primary issue for index valuation is determined based on the following criteria:
        • Market capitalization;
        • Trading volume;
        • Institutional holdings; and;
        • Conversion rules (for companies with multiple share classes).
        • Changes to the composition of the Index and updates of component shares and shares readily available for trading in the marketplace (commonly referred to as “float factors”) are based on the following rules:
          • Composition Changes:
            • The composition of the Index is reviewed monthly. Additions and deletions are made after the close of trading on the third Friday of the month and are preannounced by the second day prior to the implementation date;
            • Additions include any new non-component company - an IPO or new exchange listing - that meets the Index’s inclusion standards as of the close of trading on the second Friday of the month;
            • Deletions include any issue that ceases being traded on an exchange and starts trading over-the-counter, generally referred to as “pink sheet listed,” or otherwise stops trading for ten consecutive days. The issue is removed at its latest quoted value or at $0.01 if no recent quoted value is available. Until the monthly review, the issue remains in the Index at its last exchange traded price;
            • Once a quarter, current component stocks with more than 20 non-trading days that have not been suspended are deleted. Suspended stocks are evaluated separately for removal;
            • In addition to the scheduled composition reviews, any issue that at any time fails to meet one or more of the Index membership requirements is removed from the Index as soon as prudently possible;
            • The Wilshire Index Oversight Committee may, at its discretion and if it has determined a company to be in extreme financial distress, remove the company from the Index if the committee deems the removal necessary to protect the integrity of the Index and interests of investors in products linked to the Index.
            • Share and Float Factor Updates:
              • Component shares and float factors are updated quarterly after the close of trading on the third Friday of March, June, September and December. The changes become effective at the opening of trading on the next business day;
              • In addition to the scheduled shares and float factor reviews, if the cumulative impact of corporate actions during the period between scheduled updates changes a company’s float-adjusted shares outstanding by ten percent (10%) or more, the company’s shares and float factor are updated as soon as prudently possible. Share and float changes based on corporate actions are implemented using standard Index procedures;
              • Shares and float factors of bulletin-board and pink-sheet stocks are not adjusted until they are returned to exchange listings, except to account for stock splits and reverse splits. Companies that are re-listed as of the close of trading on the second Friday of each month will have their shares and float adjustments made at the same time as the monthly Index additions and deletions, after the close of trading on the third Friday of each month.
              • Share Treatment and Float Adjustment: The following rules describe the treatment of shares and the application of float factors:
                • Shares outstanding for multiple classes of stock are combined into the primary issue’s shares outstanding to reflect the company’s total market capitalization;
                • Float adjustments are based on block ownership of each class of stock, and then are combined to determine total float for a company’s combined shares;
                • Float-adjustment factors will be implemented only if the blocked shares are greater than five percent (5%) of the company’s total shares outstanding.
                • The Index is weighted by float-adjusted market capitalization.

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. 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. Health Care Sector Risk: Companies in the health care sector may be susceptible to government regulation and reimbursement rates. Micro-Cap Company Risk: Micro-cap stocks involve substantially greater risks of loss and price fluctuations because their earnings and revenues tend to be less predictable (and some companies may be experiencing significant losses), and their share prices tend to be more volatile and their markets less liquid than companies with larger market capitalizations. REIT Risk: Investments in securities of real estate companies involve risks. These risks include, among others, adverse changes in national, state or local real estate conditions; obsolescence of properties; changes in the availability, cost and terms of mortgage funds; and the impact of changes in environmental laws. 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. Small Company Risk. Certain of the companies in which the fund may invest may at times be considered small-capitalization, rather than micro-capitalization, companies. Investing in securities of small companies involves greater risk than is customarily associated with investing in 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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