Claymore Advantaged High-Yield Bond ETF (CHB)
$20.60
Last Market Price: 2/3/12 4:14PM ET
$0.03 | 0.15 %
Change
Factsheet Factsheet Prospectus Prospectus

FUND SUMMARY

The Claymore Advantaged High Yield Bond ETF(the “Fund”) seeks to provide a return based on the price and performance, before fees and expenses, of the Barclays Capital U.S. High-Yield Very Liquid Index (“the Index”). The Fund obtains a tax-efficient exposure to the constituent securities of the index through entering into a forward agreement with a Canadian Chartered Bank.

The ETF provides suitable investors of different sizes with the opportunity to gain exposure to a well diversified U.S. high yield bond portfolio, on a Canadian dollar hedged basis. 

[ - ]
FUND STATISTICS
as of 2/3/12
Price History
  MARKET PRICE NAV
Close $20.60 $20.39
Change $0.03 $0.07
52-Week High $21.32 $21.12
52-Week Low $18.13 $18.04
Bid/Ask Midpoint $20.61
Bid/Ask Premium (Discount) 1.08 %
Volume 195,032
Shares Outstanding 14,440,000
Total Managed Assets $294,360,351
Total Managed Assets (Common and Advisor) $326,132,990
As of September 15, 2011 volume is the daily volume summation of Toronto Stock Exchange and Alpha Trading Systems. Prior to September 15, 2011 volume displayed was that of the Toronto Stock Exchange only.  Figures are based on market close.
[ - ]
TOP FUND HOLDINGS
as of 2/3/12
View All
CIT GROUP INC 7.000% 05/02/2017 DD 06/15/11 2.23 %
CCO HOLDINGS LLC / CCO HOLDING 6.500% 04/30/2021 DD 05/10/11 2.01 %
CAESARS ENTERTAINMENT OPERATIN 10.000% 12/15/2018 DD 12/15/09 1.92 %
SPRINT NEXTEL CORP 144A 9.000% 11/15/2018 DD 11/09/11 1.89 %
FIRST DATA CORP 12.625% 01/15/2021 DD 07/15/11 1.87 %
INTERNATIONAL LEASE FINANCE CO 8.750% 03/15/2017 DD 03/15/11 1.81 %
AVAYA INC 7.000% 04/01/2019 DD 02/11/11 1.68 %
OFFSHORE GROUP INVESTMENTS LTD 11.500% 08/01/2015 DD 02/01/11 1.60 %
DISH DBS CORP 6.750% 06/01/2021 DD 05/05/11 1.57 %
ICAHN ENTERPRISES LP / ICAHN E 8.000% 01/15/2018 DD 07/15/10 1.50 %
Initially, in order to obtain exposure to the performance of the Index, the Claymore Advantaged High Yield Bond ETF (the “ETF”) will invest the net proceeds of its continuous offerings in a portfolio of common shares of Canadian public companies listed on the TSX that qualify as “Canadian securities” for purpose of the Tax Act (the “Canadian Share Portfolio”). The ETF will enter into one or more forward purchase and sale agreements (collectively, the “Forward”) with a Canadian chartered bank or an affiliate thereof (the “Counterparty”) pursuant to which the ETF will agree to sell securities in the Canadian Share Portfolio to the Counterparty from time to time in exchange for a purchase price determined by reference to the Canadian dollar value (the “Forward Amount”) of the performance of Index. However, neither the ETF nor its Unitholders by virtue of their investment in Units will have any ownership interest in the Index or any other financial instrument, if any, the Counterparty chooses to hedge its exposure under the Forward.
[ - ]
PROFILE
Ticker Symbol (Click for Intraday Price) CHB
Exchange TSX
CUSIP 18382A107
Inception Date 1/11/10
Income Distribution Return of Capital and Capital Gains
Distribution Schedule (if any) Monthly
Management Fees 0.50 %
Management Expense Ratio (as of 6/30/11) 0.56 %
Fiscal Year-End 12/31
Investment Adviser Claymore Investments, Inc.
Index Name Barclays Capital U.S. High-Yield Very Liquid Index
Index Provider Barclays Capital
RRSP, RRIF, RESP, DPSP, TFSA 100% Eligible
DRIP Offered Yes
PACC Offered Yes
SWP Offered Yes

Management Expense Ratio is the total percentage of fund assets used for administrative, management, marketing, and all other expenses.

[ - ]
INDEX CHARACTERISTICS
as of 2/2/12
Average Credit Quality B1/B2
Average Coupon 8.38 %
Yield To Maturity 7.60 %
Average Yield To Worst 7.14 %
Average Maturity in Years 6.89
Modified Adjusted Duration in Years 4.47
Convexity -0.03 %
Number of Holdings 197

P/E Ratio is a harmonic weighted average and is equal to a security’s market capitalization divided by its after-tax earnings over the most recent 12-month period.

The weighted average credit quality of the bonds held in the portfolio.

The weighted average of coupons on the bonds held in the portfolio.

The total return by an investor who buys the portfolio today at the market price, assuming that the all the bonds will be held until maturity, and that all coupon and principal payments will be made on schedule. Yield to maturity is actually an estimation of future return, as the rates at which coupon payments are assumed to be the current market rates.

When a bond is callable, puttable, exchangeable, or has other features, the yield to worst is the lowest yield of yield to maturity, yield to call, yield to put, and others.

The weighted average maturity of the bonds held in the portfolio.

Duration is measure of sensitivity of bond prices to changes in interest rates assuming small parallel shifts in the interest rates. For example a portfolio with duration of 2 years, when interest rates go up 1% the portfolio value should fall 2%. As maturity increases, duration increases and the bond’s price becomes more sensitive to interest rate changes.

A measure of how the duration of a bond changes as the interest rates changes do not occur evenly along the interest rate curve or non-parallel shifts in the interest rate curve. (measure of the curvature or 2nd derivative of how the price of a bond varies with interest rate).

[ - ]
DISTRIBUTION INFORMATION
View All
Last Distribution per Share $0.129000
Indicated Distribution Yield* 7.592 %
DRIP/PACC Price -
Date Paid 2/6/12
Next Targeted Distribution
Ex-Date 2/24/12
Record Date 2/28/12
Payable Date 3/6/12

(*) Approximate annualized distribution yield based on last distribution and most recent NAV. Information may change without notice. Actual results may vary. Distribution per unit is subject to change on the ex-distribution date.

RISKS AND OTHER CONSIDERATIONS

There is no assurance the Fund will achieve its investment objective. Past performance does not guarantee future results. Index returns do not represent Fund returns. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Exchange-Traded funds are not guaranteed. Their values change frequently and past performance may not be repeated. There are certain general risk factors inherent to an investment in the Fund, including but not limited to: (i) risk of error in replicating the applicable Index; (ii) high yield securities risk; (iii) call risk; (iv) index investment strategy risk; (v) tracking error; (vi) fluctuations in the NAV and NAV per Unit of the Fund; (vii) the possibility that the Fund will be unable to acquire or dispose of illiquid securities; (viii) risks associated with the use of derivative transactions; (ix) counterparty credit risk associated with forward purchase and sale agreements; (x) the lack of operating history of certain Claymore ETFs; ; (xi) concentration risk; (xii) exchange rate risk; and (xiii) interest rate risk. The information included herein is for informational purposes only and is not intended to constitute specific or personalized advice including, without limitation, investment, financial, legal or tax advice. Investors may be required to make certain elections for tax reporting purposes. Investors must seek their own advise prior to making an investment decision.

“Barclays Capital U.S. High-Yield Very Liquid Index™”® is a registered trademark of Barclays Capital, the investment banking division of Barclays Bank PLC (“Barclays Capital”) and has been licensed for use by Claymore Investments, Inc.; “S&P” is a registered trademark STANDARD & POOR’S is a registered trademark of The McGraw-Hill Companies ; “Moody’s” is a registered trademark of Moody’s Investors Service, Inc.; “Fitch Ratings” is a registered trademark of Fitch Group. The third party owners of the trademarks do not sponsor or endorse, sell or promote Claymore ETFs, are not affiliated with Claymore Investments, Inc., and make no representation, warranty or condition regarding the advisability of investing in the Fund.

TD Global Finance’s (the “Counterparty”) only contractual relationship to the Fund is that the Counterparty will act as the counterparty under the forward agreement. As such, the securities offered by the Fund (the “Units”) are not sponsored, endorsed or promoted by the Counterparty or any of its affiliates. Neither the Counterparty nor its affiliates makes any representation or warranty, express or implied, to purchasers of the Units or any member of the public regarding the advisability of investing in securities generally or in the Units particularly. The Counterparty has not provided advice to the Fund or any other party as to whether the forward agreement is appropriate or suitable for the transactions contemplated under this document. The Counterparty has not participated in and is not responsible for the issue, promotion or administration of the Units nor does the Counterparty exercise any control over or oversight of the Fund, the fund manager or the investment manager. The Counterparty does not guarantee the accuracy and/or the completeness of any information or representation set out in this document, assumes no obligations or duties, fiduciary or otherwise, to any person in connection with the Units and shall not be liable (whether in negligence or otherwise) to any person arising in respect of the content of this document including, without limitation, any error, omission, or misrepresentation contained in this document, or arising in respect of any purchase of Units.

Commissions, trailing commissions, management fees and expenses all may be associated with fund investments. Please read the prospectus before investing. The indicated rate of return is the historical annual compounded total return including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges or income taxes payable by any securityholder that would have reduced returns. Funds are not guaranteed, their values change frequently and past performance may not be repeated.