Barron's #1 Taxable Bond fund



Ultra Short Duration

Price $9.91
Change $0.00 / 0.00%
As of 5/29/24


Portfolio Characteristics

  Ultra Short Duration Bloomberg 1-3 Month U.S. Treasury Bill Index
Weighted Average Life (WAL) to Worst 1.4 0.2
Effective Duration 0.9 0.2
Yield To Maturity 6.5 5.3
Number of Holdings 180 17
Average Price $96.6 $99.2

Weighted average life (WAL) to worst represents the weighted average number of years for which each dollar of unpaid principal on a fixed-income security remains outstanding. This calculation is made by making the worst-case scenario assumptions on the issue, assuming any prepayment, call, or sinking fund options are used by the issuer.

Weighted average effective duration of the securities comprising the fund portfolio or the index. Effective duration takes into account any embedded options (i.e., a put or a call) and reflects the expected change in future cash flows caused by the options in response to changing interest rates.

Yield to Maturity (YTM) is the total return anticipated on a bond if the bond is held until the end of its lifetime.

Average Price excludes zero coupon, interest only and principal only bonds, preferred securities not priced at 100 par, and other alternative sector buckets when applicable.

Credit Quality (% of Gross Assets)

  Ultra Short Duration Bloomberg 1-3 Month U.S. Treasury Bill Index
AAA/Govt./Cash 46.1% 100.0%
AA 9.9% 0.0%
A 17.4% 0.0%
BBB 15.0% 0.0%
BB 1.3% 0.0%
B 0.1% 0.0%
Not Rated 9.8% 0.0%
Other 0.4% 0.0%

Source: BlackRock Solutions and Bloomberg Barclays. The fund credit quality ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest). All securities except for those labeled “Not Rated” or “Other Fixed Income” have been rated by a Nationally Recognized Statistical Rating Organization (“NRSRO”). For purposes of this presentation, when ratings are available from more than one NRSRO, the highest rating is used. Guggenheim Investments converts ratings to the equivalent S&P rating. The index uses the Barclays index methodology.

Unrated securities do not necessarily indicate low credit quality.

Other includes non-fixed-income holdings such as equity, alternatives, non-fixed-income investment vehicles, and derivatives.

Sector Allocation (% of Net Assets)

  Ultra Short Duration Bloomberg 1-3 Month U.S. Treasury Bill Index
Investment Grade Corporate Bonds 24.9% 0.0%
Net Short Term Investments 23.4% 0.0%
Collateralized Loan Obligations 17.1% 0.0%
Non-Agency Mortgage-Backed Securities 14.7% 0.0%
Asset-Backed Securities 12.8% 0.0%
Non-Agency Commercial Mortgage-Backed Securities 5.0% 0.0%
High Yield Corporate Bonds 1.3% 0.0%
Other 0.4% 0.0%
Bank Loans 0.4% 0.0%
U.S. Treasuries & Agencies 0.0% 100.0%

Other Fixed Income includes fixed income mutual funds, closed end funds, and other miscellaneous fixed income instruments.

Net Short Term Investments may include uninvested cash, net unsettled trades, money market funds, commercial paper, repos, reverse repos and other liquid short duration securities.

Since Inception Risk Statistics (Institutional Class compared to the Bloomberg 1-3 Month U.S. Treasury Bill Index)

Alpha 0.20
Standard Deviation 1.19
Correlation -0.22
Sharpe Ratio 0.40
Up Market Capture 142.84%
Down Market Capture 196.07%

Standard Deviation: A statistical measure of the historical volatility of an investment, usually computed using 36 monthly returns.

Alpha is a measure of the difference between actual returns and its expected performance, given its level of risk as measured by beta. A positive alpha figure indicates the portfolio has performed better than its beta would predict. In contrast, a negative alpha indicates the portfolio has under performed, given the expectations established by beta.

Correlation: A measurement between -1 and 1, which indicates the linear relationship between two variables. If there is no relationship between two variables, the correlation coefficient is 0. If there is a perfect relationship, the correlation is 1. And if there is a perfect inverse relationship, the correlation is -1.

Sharpe Ratio: A risk-adjusted measure developed by William F. Sharpe calculated using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe Ratio, the better the risk-adjusted performance.

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. Current performance may be lower or higher than the performance data quoted. Returns for performance under one year are cumulative, not annualized. The Guggenheim Ultra Short Duration Fund (the “Fund”) is newly organized. On 11.30.2018, the Guggenheim Strategy Fund I (the “Predecessor Fund”), which also was an investment company registered under the Investment Company Act of 1940, reorganized with and into the Fund, which has adopted the Predecessor Fund’s performance history. Accordingly, the performance information shown below for Institutional Class shares of the Fund reflects the performance of the Predecessor Fund and not of the Fund; however, the Predecessor Fund’s policies, guidelines and investment objectives were the same as the Fund’s in all material respects. The returns shown for the Predecessor Fund have been restated to reflect the fees and expenses applicable to the Institutional Class shares of the Fund, exclusive of any applicable expense limitation agreement.

Data is subject to change on a daily basis. Partial year returns are cumulative, not annualized. Returns reflect the reinvestment of dividends.

The value of an investment in the Fund will fluctuate and is subject to investment risks, which means investors could lose money. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the FDIC or any governmental agency. The Fund is not a money market fund (or equivalent to a money market fund), does not attempt to maintain a stable net asset value, and is not subject to the rules that govern the quality, maturity, liquidity, and other features of securities that money market funds may purchase. Under normal conditions, the Fund’s investments may be more susceptible than a money market fund to interest rate risk, valuation risk, credit risk, and other risks relevant to the Fund’s investments.

This Fund may not be suitable for all investors. • The investments in fixed-income instruments are subject to the possibility that interest rates could rise, causing the value of the Fund’s holdings and share price to decline. • Investors in asset- backed securities, including collateralized loan obligations (“CLOs”), generally receive payments that are part interest and part return of principal. These payments may vary based on the rate loans are repaid. Some asset-backed securities may have structures that make their reaction to interest rates and other factors difficult to predict, making their prices volatile and they are subject to liquidity and valuation risk. CLOs bear similar risks to investing in loans directly. • Investments in loans involve special types of risks, including credit, interest rate, counterparty, prepayment, liquidity, and valuation risks. Loans are often below investment grade, may be unrated, and typically offer a fixed or floating interest rate. • High yield and unrated debt securities are at a greater risk of default than investment grade bonds and may be less liquid, which may increase volatility. • The Fund’s use of leverage, through borrowings or instruments such as derivatives, may cause the Fund to be more volatile and riskier than if it had not been leveraged. The more a Fund invests in leveraged instruments, the more the leverage will magnify any gains or losses on those investments. • Foreign securities carry unique or additional risks when compared to U.S. securities, including currency fluctuations, adverse political and economic developments, unreliable or untimely information, less liquidity and more volatility, limited legal recourse and higher transactional costs, all of which are enhanced when investing in emerging markets. In addition, investments in emerging markets are subject to risks associated with trading in smaller markets, lower volumes of trading, and being subject to lower levels of government regulation and less extensive accounting, financial and other reporting requirements. • Please read the prospectus for more detailed information regarding these and other risks.

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 following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, and GS GAMMA Advisors, LLC.

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