The BDC Scorecard Portfolio, Series 15 ("Trust") seeks to provide high current income with capital appreciation as a secondary objective.
|Wrap Fee Price||N/A|
|Remaining Deferred Sales Charge||$0.0000|
|Mandatory Maturity Date||6/17/2020|
|NASDAQ Ticker Symbol||CBDCOX|
|Inception Unit Price||$10.0000|
|Inception Liquidation Price||$9.8650|
|Deferred Sales Charge Dates||
|Number of Holdings||15|
|Historical Annual Dividend Distribution*||$0.8445|
* The Historical Annual Dividend Distribution (HADD) is as of the day prior to trust deposit and subject to change. There is no guarantee the issuers of the securities included in the Trust will declare dividends or distributions in the future. The HADD of the securities included in the Trust is for illustrative purposes only and is not indicative of the Trust’s distribution rate. The HADD is the weighted average of the trailing twelve-month distributions paid by the securities included in the portfolio and is reduced to account for the effects of fees and expenses, which will be incurred when investing in the Trust. The HADD will vary due to certain factors that may include, but are not limited to, a change in the dividends paid by issuers, a change in Trust expenses or the sale or maturity of securities in the portfolio.
All data is subject to change daily. Data may differ from the prospectus due to different data sources or market changes. Please refer to prospectus for additional information about the trust including the portfolio section criteria. Source: FactSet Research Systems Inc. unless otherwise noted. The total percentages may not be equal to 100% due to rounding. N/A indicates that certain securities have not been identified and/or classified by the data provider. A unit is a combination of securities or types of securities traded together.
|Weighted Average Price/Earnings (P/E) Ratio||6.19|
|Weighted Average Price/Book (P/B) Ratio||0.85|
|Weighted Average Market Cap (MM)||$1,876.25|
Past performance is no guarantee of future results. Investment returns and principal value will fluctuate with changes in market conditions. Investors' units, when redeemed, may be worth more or less than their original cost.
Principal Investment Strategy
Under normal circumstances, the Trust invests at least 80% of the value of its assets in U.S.-listed business development companies (“BDCs”) included in the Wells Fargo® BDC Scorecard Weighted Index (the “Index”). The Trust seeks to substantially replicate the Index as of the date of deposit. As a result of this strategy, the Trust is concentrated in the financials sector.
As of the date of deposit (the “Inception Date”), the Trust generally invests in the securities comprising the Index in proportion to their weightings in the Index. The Index is an index that is comprised of BDCs and aims to maintain a lower risk profile than BDCs as a whole. In selecting the final portfolio, the Trust will only invest in publicly-traded BDCs. The Index is maintained by Wells Fargo Securities, LLC Equity Research Department (“Wells Fargo”) in accordance with its scorecard weighting methodology for BDCs (the “Scorecard Model”).
The Sponsor may adjust weightings of the Index constituents to respond to diversification constraints, other regulatory requirements or the Sponsor’s analysis of liquidity in certain securities. Following the Inception Date, the Trust’s portfolio will not be adjusted to reflect any changes to the Index. Accordingly, the performance of the Trust will not correspond to the performance of the Index.
Wells Fargo® BDC Scorecard Weighted Index
The Index selects BDCs based on the following screens:
Business Development Companies
BDCs are closed-end companies that elect to be treated as business development companies under the Investment Company Act of 1940 (the “1940 Act”). This election exempts BDCs from certain portions of the 1940 Act, allowing for greater regulatory flexibility. This flexibility allows BDCs to make certain investments in smaller businesses that might be impossible or impractical for other investment companies registered under the 1940 Act and allows BDCs to have more debt outstanding than other closed-end funds (i.e., more leveraged). BDCs do not have mandatory termination dates. BDCs generally invest in primarily U.S. small- and mid-capitalization companies, as well as a limited number of foreign issuers, through a combination of debt and equity investments. In addition, BDCs also often provide managerial assistance to portfolio companies. BDCs that hold fixed income securities of portfolio companies may invest in debt that is either investment grade or below investment-grade. High-yield or “junk” bonds, the generic names for bonds rated below investment-grade, are frequently issued by corporations in the growth stage of their development or by established companies that are highly leveraged or whose operations or industries are depressed. Obligations rated below investment-grade should be considered speculative. If the BDCs in the Trust’s portfolio hold loans, they typically hold loan portfolios that have maturities of three to four years.
Risks and Other Considerations
As with all investments, you may lose some or all of your investment in the Trust. No assurance can be given that the Trust’s investment objective will be achieved. The Trust also might not perform as well as you expect. This can happen for reasons such as these:
See “Investment Risks” in Part A of the prospectus and “Risk Factors” in Part B of the prospectus for additional information.
Please see the Trust prospectus for more complete risk information.
Unit Investment Trusts are fixed, not actively managed and should be considered as part of a long-term strategy. Investors should consider their ability to invest in successive portfolios, if available, at the applicable sales charge. UITs are subject to annual fund operating expenses in addition to the sales charge. Investors should consult an attorney or tax advisor regarding tax consequences associated with an investment from one series to the next, if available, and with the purchase or sale of units. Guggenheim Funds Distributors, LLC does not offer tax advice.
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, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management. Securities offered through Guggenheim Funds Distributors, LLC.
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