Fund Profile
| Symbol |
EEN |
| Exchange |
NYSE Arca |
| NAV Symbol (IIV) |
EENIV |
| CUSIP |
18383Q101 |
| Fund Inception Date |
3/1/07 |
| Distribution Schedule (if any) |
Annually |
Expense Ratio  |
0.35 % |
| Fiscal Year-End |
8/31 |
| Investment Adviser |
Claymore Advisors, LLC |
| Euro-Pacific Index |
BKEPAT |
| Index Provider |
The Bank of New York Mellon
|
| Index Constituent List |
The Bank of New York Mellon
|
Per the prospectus dated March 31, 2009, the Fund's total annual operating expense ratio, gross of any fee waivers or expense reimbursements, is 0.35%. The expense ratio is expressed as a unitary fee and covers all expenses of the Fund, except for the fee payments under the investment advisory agreement, distribution fees, if any, brokerage expenses, taxes, interest, litigation expenses and other extraordinary expenses.
Fund Statistics
as of 7/29/10
Price History
| |
MARKET PRICE |
NAV |
| Close |
$17.07 |
$17.67 |
| Change |
$0.00 |
$0.14 |
| 52-Week High |
$20.21 |
$19.49 |
| 52-Week Low |
$15.56 |
$15.60 |
| Bid/Ask Midpoint |
$17.65 |
| Bid/Ask Premium (Discount) |
-0.14 % |
| Volume |
0 |
| Shares Outstanding |
202,000 |
| Total Managed Assets |
$3,568,969 |
Figures are based on market close.
Prior to March 31, 2009, the Fund’s name was the “Claymore/Robeco Developed International Equity ETF” and the Fund sought to replicate an index called the “Robeco Developed International Equity Index.”
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.
P/B Ratio is a harmonic weighted average and is equal to a security’s market capitalization divided by its book value.
Alpha is a statistical measurement that depicts the performance difference between a fund's return and an underlying performance benchmark, given a fund’s level of volatility, measured by beta. The benchmark will always reflect an alpha of 0.00%. A positive alpha indicates a fund has performed better than its beta would predict in the stated period. Data displayed is for the previous 3 year period.
Beta is the measure of a fund's sensitivity to the Index. By definition, the beta of the Index is 1.00. Any fund with a higher beta is more volatile than the Index. Likewise, any portfolio with a lower beta will be less volatile than the index in the stated period. Data displayed is for the previous 3 year period.
Standard deviation is a statistical measurement that depicts how widely returns vary over a given period of time. The measurement is generally used to understand the range of returns that are most likely for a given portfolio. Generally, a higher standard deviation indicates a more risky portfolio. This is computed by using the trailing monthly total returns for the appropriate time period. Monthly standard deviations are then annualized. Data displayed is for the previous 3 year time period.
Average Market Capitalization is the geometric mean of the market capitalizations for all the securities in a fund’s portfolio.
CURRENT
DISTRIBUTION
View Distribution History
| Ex-Date |
12/24/09 |
| Record Date |
12/29/09 |
| Payable Date |
12/31/09 |
| Distribution per Share |
$0.200000 |
To the extent the Current Distribution is comprised of something other than Income, such as Return of Capital, please refer to the applicable Rule 19a-1 Notice found in the Literature section. If the Current Distribution is comprised solely from Income, a Rule 19a-1 Notice will not be produced and posted.
Past performance is not a guarantee of future results.
INDEX METHODOLOGY
The Euro-Pacific Index is comprised of U.S.-listed ADRs, GDRs, New York Shares and Global Registered Shares selected, based on liquidity as described below, from a universe of all U.S.-listed ADRs, GDRs, New York Shares and Global Registered Shares of developed countries in Europe and Asia-Pacific. The current list of developed market countries includes Austria, Australia, Belgium, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom. As of February 28, 2009, the Index’s constituent countries were represented (in approximate weight) in the Index as follows: United Kingdom 26.70%, Japan 18.91%, Netherlands 9.42%, Germany 6.17%, Switzerland 5.81%, Australia 5.76%, Ireland 5.46%, France 4.42%, Spain 2.86%, Italy 2.38%, Greece 2.28%, Denmark, 1.82%, Hong Kong 1.61%, Norway 1.07%, Sweden 1.06%, Portugal 0.98%, Belgium 0.97%, New Zeland 0.92%, Luxembourg 0.80% and Finland 0.60%.
RISKS AND OTHER CONSIDERATIONS
Investors should consider the following risk factors and special considerations associated withinvesting in the Fund, which may cause you to lose money.
Investment Risk. An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest.
Equity Risk. A principal risk of investing in the Fund is equity risk, which is the risk that the value of the securities held by the Fund will fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, or factors relating to specific companies in which the Fund invests. For example, an adverse event, such as an unfavorable earnings report, may depress the value of equity securities of an issuer held by the Fund; the price of common stock of an issuer may be particularly sensitive to general movements in the stock market; or a drop in the stock market may depress the price of most or all of the common stocks and other equity securities held by the Fund. In addition, common stock of an issuer in the Fund’s portfolio may decline in price if the issuer fails to make anticipated dividend payments because, among other reasons, the issuer of the security experiences a decline in its financial condition. Common stock is subordinated to preferred stocks, bonds and other debt instruments in a company’s capital structure, in terms of priority to corporate income, and therefore will be subject to greater dividend risk than preferred stocks or debt instruments of such issuers. In addition, while broad market measures of common stocks have historically generated higher average returns than fixed income securities, common stocks have also experienced significantly more volatility in those returns.
Foreign Investment Risk. The Fund’s investments in non-U.S. issuers may involve unique risks compared to investing in securities of U.S. issuers, including, among others, greater market volatility than U.S. securities and less complete financial information than for U.S. issuers. In addition, adverse political, economic or social developments could undermine the value of the Fund’s investments or prevent the Fund from realizing the full value of its investments. Financial reporting standards for companies based in foreign markets differ from those in the United States. Finally, the value of the currency of the country in which the Fund has invested could decline relative to the value of the U.S. dollar, which may affect the value of the investment to U.S. investors. In addition, the underlying issuers of certain depositary receipts, particularly unsponsored or unregistered depositary receipts, are under no obligation to distribute shareholder communications to the holders of such receipts, or to pass through to them any voting rights with respect to the deposited securities.
As of the date of this prospectus, a significant percentage of the Index is comprised of securities of companies from the United Kingdom and Japan. To the extent that the Index is focused on securities of any one country, including the United Kingdom or Japan, the value of the Index will be especially affected by adverse developments in such country, including the risks described above.
Small and Medium-Sized Company Risk. Investing in securities of small- and medium-sized companies involves greater risk than is customarily associated with investing in more established companies. These companies’ securities may be more volatile and less liquid than those of more established companies. These securities may have returns that vary, sometimes significantly, from the overall stock market.
Non-Correlation Risk. The Fund’s return may not match the return of the Index for a number of reasons. For example, the Fund incurs a number of operating expenses not applicable to the Index, and incurs costs in buying and selling securities, especially when rebalancing the Fund’s securities holdings to reflect changes in the composition of the Index.
The Fund may not be fully invested at times, either as a result of cash flows into the Fund or reserves of cash held by the Fund to meet redemptions and expenses. If the Fund utilizes a sampling approach or futures or other derivative positions, or otherwise holds investments other than those which comprise the Index, its return may not correlate as well with the return on the Index, as would be the case if it purchased all of the securities in the Index with the same weightings as the Index.
Replication Management Risk. Unlike many investment companies, the Fund is not “actively” managed. Therefore, it would not necessarily sell a security because the security’s issuer was in financial trouble unless that security is removed from the Index.
Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of securities of smaller issuers can be more volatile than that of larger issuers.
Non-Diversified Fund Risk. The Fund is considered non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund.
As with any investment, you should consider how your investment will be taxed. The tax information contained in the prospectus is provided as general information. Investors should consult their own tax professional about the tax consequences of an investment as Claymore Securities, Inc. does not offer tax advice.
Claymore ETFs are listed on the NYSE Arca, depending on the ETF listing, the same way as shares of a publicly-traded company. Claymore ETFs can be purchased through most brokerage accounts. They can be bought and sold throughout the day on the NYSE Arca, depending on the ETF listing, during normal trading hours. The Fund issues and redeems shares at NAV only in large blocks of 50,000 shares (each block of 50,000 shares is called a “Creation Unit”) or multiples thereof. Only broker-dealers or large institutional investors with creation and redemption agreements, called Authorized Participants (“APs”), can purchase or redeem these Creation Units.
Investors buying or selling ETF shares on the secondary market may incur brokerage costs and other transactional fees. Shares of ETFs may fluctuate in price due to daily changes in trading volume. At times, shares may not have a high volume of trading. Except when aggregated in Creation Units, Shares are not redeemable securities of the Fund.
The Claymore/BNY Mellon EW Euro-Pacific LDRs ETF and its Shares are not sponsored, endorsed, sold, recommended or promoted by BNY Mellon or any of its subsidiaries or affiliates. None of the BNY Mellon or any of its subsidiaries or affiliates make any representation or warranty, express or implied, to the shareholders of the Fund or any member of the public regarding the advisability of investing in securities generally or in the Fund particularly, the ability of any data supplied by BNY Mellon to track general stock market performance or the suitability or appropriateness of the Fund for the shareholders or members of the public. BNY Mellon’s only relationship to the Investment Adviser is the licensing of certain trademarks and trade names of BNY Mellon and of the data supplied by BNY Mellon, which is determined, composed and calculated by BNY Mellon without regard to the Investment Adviser, Fund or their Shares. Neither BNY Mellon nor any of its subsidiaries or affiliates has any obligation to take the needs of the Investment Adviser or the shareholders of the Fund into consideration in determining, composing or calculating the data supplied by BNY Mellon. BNY Mellon and any of its subsidiaries or affiliates are not responsible for and have not participated in the determination of the timing of, prices at, or quantities of the Shares to be issued or in the determination or calculation of the equation by which the products are to be converted to cash, prices of the Shares of the Fund or the timing of the issuance or sale of such Shares. BNY Mellon has no obligation or liability in connection with the administration, marketing or trading of the Fund or its Shares.
Claymore Advisors, LLC, an affiliate of Claymore Securities, Inc., serves as the investment adviser.