MZF

PORTFOLIO CHARACTERISTICS

as of 8/31/10

Average Duration 7.870 yrs
Average Coupon 5.489 %
Average Bond Price 104.167

Average duration does not reflect leverage or the effects of the hedging strategy used in the portfolio.

This data is subject to change on a daily basis.

SECTOR CONCENTRATION

as of 8/31/10

Sector %
Medical 20.32 %
Development 14.91 %
Housing 11.90 %
Higher Education 7.23 %
Power 7.07 %
General Obligation 6.46 %
Water/Sewer 4.68 %
Transportation 4.46 %
Utilities 4.28 %
Lease 3.68 %
Tobacco 3.46 %
Airport 2.77 %
Pre-Refunded 2.06 %
Enhanced Tobacco 1.99 %
Other 4.73 %



This data is subject to change on a daily basis.

TOP 10 HOLDINGS

as of 8/31/10

Name %
California State, General Obligation 3.80 %
Henderson, NV Hlth Care Fac, Cath. Hlthcare West 3.35 %
California St, Dept of Mental Health 3.04 %
South Dakota Housing Development Authority 2.98 %
Metropolitan Transportation Authority 2.53 %
Sweetwater Cnty WY-FMC Corp 2.40 %
Lorain Co Ohio Hospital, Catholic Healthcare 2.27 %
Highlands Co Florida, Adventist Health System 2.06 %
Cuhahoga Co Ohio, Cleveland Clinic Health System 2.00 %
Tobacco Settlement Finance Corp 1.99 %



This data is subject to change on a daily basis.

STATE/TERRITORY CONCENTRATION

as of 8/31/10

State %
New York 12.32 %
California 10.13 %
Texas 9.11 %
Ohio 7.06 %
Louisiana 5.53 %
Florida 5.49 %
Wyoming 4.25 %
South Dakota 3.71 %
Illinois 3.68 %
Pennsylvania 3.39 %
Other 35.33 %



This data is subject to change on a daily basis.

CREDIT QUALITY

as of 8/31/10

Standard & Poor's Ratings %
AAA 15.36 %
AA 22.60 %
A 24.28 %
BBB 32.43 %
BB 2.51 %
B 0.76 %
Non-Rated 2.06 %

Bonds with a credit rating of BB or lower are considered below investment grade.

This data is subject to change on a daily basis.

Investors should carefully consider the investment objectives and policies, risk considerations, charges and ongoing expenses of any investment product before investing. For more information, please contact a securities representative or Claymore Securities, Inc., 2455 Corporate West Drive, Lisle, Illinois 60532, 800-345-7999.

NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE