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Guggenheim launches 2018, 2019 and 2020 BulletShares corporate ETFs
By Toni Weeks
San Diego, March 28 - Guggenheim Investments has launched three new corporate bond BulletShares exchange-traded funds, according to a press release.
The new funds are the Guggenheim BulletShares 2018 Corporate Bond ETF, the Guggenheim BulletShares 2019 Corporate Bond ETF and the Guggenheim BulletShares 2020 Corporate Bond ETF. The new funds trade on the NYSE Arca under the symbols BSCI, BSCJ and BSCK, respectively.
The Guggenheim BulletShares lineup now consists of 10 fixed-income, defined-maturity corporate bond and high-yield corporate bond ETFs with maturity dates ranging from 2012 to 2020. The ETFs are designed to mature in their target year, tracking indexes of about 70 to 190 corporate bonds with effective maturities in the same calendar year.
According to an N-1A filing with the Securities and Exchange Commission, each fund seeks investment results that correspond generally to the performance, before fees and expenses, of an investment-grade corporate bond index. The 2018, 2019 and 2020 funds' corresponding indexes are the BulletShares USD Corporate Bond 2018 index, the BulletShares USD Corporate Bond 2019 index and the BulletShares USD Corporate Bond 2020 index.
Each fund will invest at least 80% of its total assets in component securities that comprises its respective index. In the last six months of operation before maturity, each fund's portfolio will transition to cash and cash equivalents, including U.S. Treasury bills and investment-grade commercial paper.
Saroj Kanuri is the portfolio manager.
Total annual fund operating expenses for each fund will run 0.24%, which consists solely of a management fee.
Lisle, Ill.-based Guggenheim Funds Investment Advisors, LLC is the investment adviser to the BulletShares funds.
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