Claymore/Clear Spin-off Company ETF (CSD)

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Claymore/Clear Spin-off Company ETF (CSD)

Overview

The “Fund” seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of an equity index called the Beacon Spin-off Index (the “Spin-off Index” or “Index”). The Fund will normally invest at least 90% of its total assets in common stock, American depositary receipts ("ADRs") and master limited partnerships ("MLPs") that comprise the Index. Claymore Advisors, LLC (the “Investment Adviser”) seeks a correlation over time of 0.95 or better between the Fund’s performance and the performance of the Index. A figure of 1.00 would represent perfect correlation.

The Fund, using a low cost “passive” or “indexing” investment approach, seeks to replicate, before fees and expenses, the performance of the Spin-off Index. The Spin-off Index is comprised of approximately 40 stocks selected, based on investment and other criteria, from a broad universe of U.S.-traded stocks, ADRs and MLPs. The universe of companies eligible for inclusion in the Index includes companies that have been spun-off within the past two years (but not more recently than six months prior to the applicable rebalancing date), without limitations on market capitalization (including micro-cap securities), but which are primarily small- and mid-cap companies with capitalizations under $10 billion. Beacon Indexes LLC (“Beacon” or the “Index Provider”) defines a spin-off company as any company resulting from either of the following events: a spin-off distribution of stock of a subsidiary company by its parent company to parent company shareholders or equity “carve-outs” or “partial initial public offerings” in which a parent company sells a percentage of the equity of a subsidiary to public shareholders. [1]

Fund Information

  • Fund Manager - Claymore Advisors
  • Inception Date - 12/15/2006
  • Exchange – NYSE Arca
  • Index Ticker - CSD
  • Intra-day NAV Ticker - CSDIV
  • Expense Ratio - 0.60%

Top Holdings

Holdings % of the portfolio
DISCOVER FINANCIAL SERVICES 6.41%
LENDER PROCESSING SERVICE 5.58%
SCRIPPS NETWORKS INTERACT 5.07%
VMWARE INC-CLASS A 5.04%
COVIDIEN PLC 4.55%
MSCI INC-A 4.54%
DR PEPPER SNAPPLE GROUP 4.54%
LORILLARD INC 4.42%
TERADATA CORP 4.36%
TYCO ELECTRONICS LTD 4.32%


Holdings as of 23/10/2009

References

  1. - Overview of Claymore/Clear Spin-off Company ETF (CSD)
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