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Claymore CEF Index

Index Resources
Fact Card

Index Methodology

Step 1: Identify Entire Closed-End Fund Universe
Step 2: Narrow the Closed-End Fund Universe. Exclude funds that:
  • Do not trade on U.S. exchanges
  • Generate non-taxable income by investing at least 50% of their assets in non-taxable securities
  • Are interval funds
  • Have less than six months of operating history
  • Have market capitalizations of less than $250 million
  • Have a market share price less than $5
  • Have a trading volume of less than 1 million shares in each of the six months preceding reconstitution of the Index
  • Are not organized in the United States
Step 3: Rank Remaining Closed-End Funds Based on Premium/Discount (80% weighting) and Distribution Yield (20% weighting)
Step 4: Select the Top 75 Ranked Closed-End Funds: Weightings based on each fund’s trading volume and premium/discount ranking

Risks And Other Considerations

Guggenheim Funds Distributors, LLC makes no representation or warranty, express or implied, regarding the ability of the Index to track general market performance. Guggenheim Funds Distributors, LLC shall not be liable to any person for any error in the Index nor shall it be under any obligation to advise any person of any error therein.

Certain Claymore CEF Index constituents may be closed-end funds advised by Guggenheim Funds Investment Advisors, LLC, an affiliate of Guggenheim Funds Distributors, LLC. Guggenheim Funds Investment Advisors, LLC, receives an advisory fee from such closed-end funds as investment adviser. Guggenheim Funds Distributors, LLC. may act as a servicing agent for certain closed-end funds included in the Claymore CEF Index and receives fees for this activity.

“The Claymore CEF IndexSM is calculated by NYSE Arca, Inc. (“NYSE Arca”). The Claymore Index-Linked GS Connect Exchange Traded Notes, which is based on the Index, is not sponsored, endorsed, sold or promoted by NYSE Arca, and NYSE Arca makes no representation regarding the advisability of investing in such product. NYSE Arca makes no express or implied warranties, and hereby expressly disclaims all warranties or merchantability or fitness for particular purpose with respect to the Claymore CEF IndexSM or any data included therein. In no event shall NYSE Arca have any liability for any special, punitive, indirect or consequential damages (including lost profits), even if notified of the possibility of such damages.”

Guggenheim Investments represents the investment management business of Guggenheim Partners, LLC. Securities offered through Guggenheim Funds Distributors, LLC.

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