Claymore rolls out five more Guggenheim BulletShares High-Yield Corporate Bond ETFs

By Toni Weeks

San Diego, April 19 - Claymore Exchange-Traded Fund Trust launched three more high-yield corporate bond exchange-traded funds and released details for two others that will launch in May, according to N-1A filings with the Securities and Exchange Commission.

The five ETFs add to the trust's existing lineup of four target maturity date high-yield corporate bond ETFs, which mature from 2012 to 2015.

The new funds, each with an annual maturity date that ranges from 2016 to 2020, will track indexes designed to replicate a held-to-maturity portfolio of dollar-denominated high-yield corporate bonds with a correlating effective maturity date. The indexes are provided by Accretive Asset Management.

Under normal conditions, each fund will invest at least 80% of its net assets in component securities from its respective index. During the last year of operation, as the bonds mature, a fund's portfolio will transition to cash and cash equivalents, including U.S. Treasury bills and investment-grade commercial paper. Once each fund hits its target date, Claymore will make a cash distribution of net assets to shareholders and close down each ETF.

The bonds and their respective indexes are as follows:

• The Guggenheim BulletShares 2016 High Yield Corporate Bond ETF, which trades under the symbol "BSJG," seeks investment results that correspond generally to the performance, before fees and expenses, of the BulletShares USD High Yield Corporate Bond 2016 Index;

• The Guggenheim BulletShares 2017 High Yield Corporate Bond ETF, which trades under the symbol "BSJH," seeks investment results that correspond generally to the performance, before fees and expenses, of the BulletShares USD High Yield Corporate Bond 2017 Index;

• The Guggenheim BulletShares 2018 High Yield Corporate Bond ETF, which trades under the symbol "BSJI," seeks investment results that correspond generally to the performance, before fees and expenses, of the BulletShares USD High Yield Corporate Bond 2018 Index;

The Guggenheim BulletShares 2019 High Yield Corporate Bond ETF seeks investment results that correspond generally to the performance, before fees and expenses, of the BulletShares USD High Yield Corporate Bond 2019 Index.

The Guggenheim BulletShares 2020 High Yield Corporate Bond ETF seeks investment results that correspond generally to the performance, before fees and expenses, of the BulletShares USD High Yield Corporate Bond 2020 Index.

Ticker symbols have not yet been set for the 2019 and 2020 funds.

Saroj Kanuri serves as the portfolio manager for the funds. Kanuri is a director of ETF Portfolio Manager for Guggenheim Funds Investment Advisors, LLC, the funds' Lisle, Ill.-based investment adviser.

Total annual fund operating expenses for each fund are 0.42%, which consists solely of a 0.42% management fee.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.