The Convertible & Income Portfolio of Funds, Series 36 ("Trust") seeks to provide current income and the potential for capital appreciation.
|Wrap Fee Price||N/A|
|Remaining Deferred Sales Charge||$0.2250|
|Mandatory Maturity Date||1/19/2024|
|Inception Unit Price||$10.0000|
|Inception Liquidation Price||$9.7750|
|Deferred Sales Charge Dates||
|Number of Holdings||13|
|Rate Fee Based||-|
* The Historical Annual Dividend Distribution (HADD) per unit is as of the day prior to trust deposit and subject to change. The HADD per unit is the weighted average of the trailing twelve-month distributions paid by the securities included in the portfolio. The HADD rate is based on the HADD divided by the current offer price and recalculated daily. Both the HADD per unit and the rate shown are reduced to account for the effects of fees and expenses, which will be incurred when investing in the Trust. The HADD per unit and rate 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. 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. Due to the negative economic impact across many industries caused by the recent COVID-19 outbreak, certain issuers of the securities included in the trust may elect to reduce the amount of, or cancel entirely, dividends and/or distributions paid in the future. As a result, the HADD figure will likely be higher, and in some cases significantly higher, than the actual distribution rate achieved by the trust.
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.
|Exchange Traded Fund||31.36%|
|Weighted Average Leverage Ratio**||17.36%|
** The Total value of the fund’s outstanding leverage presented as a percentage of total assets.
Example: Percentage of Total Assets represented by leverage.(e.g., Total Assets = $200M; Net Assets = $160M; Leverage = $40M. Leverage = 20%, calculated by dividing $40M by $200M.)
|Trust Weighted Average||-3.93%|
|Closed-End Fund ("CEF") Universe Average||-6.12%|
* Closed-end funds may trade at a premium or discount to their net asset value (“NAV”). The Premium/Discount shown is for the underlying securities held by the closed-end funds in the UIT. This is the weighted average of all the CEFs in portfolio.
Premium/Discount and Holdings Analysis data is provided by Morningstar Traded Fund Center. Data is subject to change on a nightly basis. The data is for the underlying securities held by the closed-end funds in the UIT. 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.
Holdings Analysis data is provided by Morningstar Traded Fund Center. Data is subject to change on a nightly basis. The data is for the underlying securities held by the exchange traded funds in the UIT. The total percentages may not be equal to 100% due to rounding.
The Closed-End Fund (“CEF”) Universe is comprised of all CEFs currently listed on U.S. exchanges.
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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 will invest at least 80% of the value of its assets in common shares of closed-end investment companies (“Closed-End Funds”) that invest substantially all of their assets in convertible securities and/or income-producing securities and shares of exchange-traded funds (“ETFs”) that invests substantially all of their assets in convertible securities.
The Closed-End Funds and ETFs included in the Trust’s portfolio invest in a wide range of convertible securities, income-producing equity securities of any market capitalization and debt securities. The convertible securities and debt securities may be rated below-investment grade through investment grade or may be unrated but deemed to be of comparable quality by a Closed- End Fund’s or ETF’s adviser. High-yield, below-investment grade securities or “junk” bonds are considered to be primarily speculative with respect to the issuer’s ability to make principal and interest payments and may be more volatile than higher rated securities of similar maturity. Additionally, they are subject to greater market, credit and liquidity risks than investment-grade securities.
The Closed-End Funds and ETFs included in the Trust’s portfolio invest in convertible securities and debt securities, which may include senior loans and debt securities with short-term, medium-term and long-term maturities. Typically, fixed-income securities with longer periods before maturity are more sensitive to interest rate changes. The Sponsor will also consider the duration of the securities held by the Closed-End Funds and the ETFs included in the Trust’s portfolio, however, those underlying securities may be of any duration. The duration of a bond is a measure of its price sensitivity to changes in interest rates based on the weighted average term to maturity of its interest and principal cash flows.
In addition, certain of the Closed-End Funds and the ETFs may invest in foreign securities, including securities issued by companies located in emerging markets.
Guggenheim Funds, through proprietary research and strategic alliances, will strive to select Closed-End Funds and ETFs featuring the potential for current income, diversification and overall liquidity.
The Sponsor has selected for the portfolio Closed-End Funds and an ETF believed to have the best potential to achieve the Trust’s investment objective.
As of the Trust’s initial date of deposit (the “Inception Date”), 100% of the Trust’s portfolio is invested in a combination of shares of Closed- End Funds that invest substantially all of their assets in convertible securities and/or income-producing securities, including but not limited to high-yield securities or “junk” bonds, and ETFs that invests substantially all of its assets in convertible securities.
When selecting Closed-End Funds for inclusion in this portfolio the Sponsor looks at numerous factors. These factors include, but are not limited to:
The Sponsor will seek to select ETFs for inclusion in the Trust portfolio that invests substantially all of their assets in convertible securities. When selecting the ETFs the Sponsor looks at numerous factors. These factors include, but are not limited to: maturity and liquidity. As of the Inception Date, the ETFs comprised approximately 30% of the Trust’s portfolio.
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 Partners Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Fund Management (Europe) Limited, Guggenheim Partners Japan Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management. Securities offered through Guggenheim Funds Distributors, LLC.
© 2022 Guggenheim Investments. All Rights Reserved.
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