Guggenheim BulletShares 2019 Corp Bond
ALTAR
Score™
1.4% info Median Credit
S&P/Moody's
A-/A3
 
Yield to
Maturity
1.8% Current
Yield
3.6%
Macaulay
Duration
2.0 yrs Modified
Duration
2.0%


  • Description
  • Performance
  • Fundamentals
  • Rate Sensitivity
  • Rating
Guggenheim BulletShares 2019 Corporate Bond ETF is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond generally to the performance, before the Fund's fees and expenses of an investment grade corporate bond index called the BulletShares USD Corporate Bond 2019 Index.

FUND BASICS
Category Corporate
Fund Sponsor Guggenheim Funds Investment Ad
Website guggenheiminvestments.com
Inception date Mar 29, 2012
Assets (mns) $973
Currency USD
Expense ratio 24 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian Bank of New York Mellon Corp/The
Weighting Market Cap
Index replication Optimized

ISSUER TYPE BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents 321
No of distinct issuers 223
Inflation protected 0%
Variable/Fixed coupon 16% /84%
Non-standard maturity (callable, etc.) 30%

TOP TEN HOLDINGS
MORGAN STANLEY 7.3% 5/13/19 3.5 %
MORGAN STANLEY 5.6% 9/23/19 3.4 %
CREDIT SUISSE NEW YOR 5.3% 8/13/19 3.4 %
HSBC USA INC 2.4% 11/13/19 3.2 %
INTERNATIONAL BUSINES 1.8% 5/17/19 3.2 %
ANHEUSER BUSCH INBEV 1.9% 2/01/19 1.0 %
BANK OF AMERICA CORP 2.6% 1/15/19 0.9 %
BANK OF AMERICA CORP 7.6% 6/01/19 0.9 %
JPMORGAN CHASE & CO 6.3% 4/23/19 0.9 %
SHIRE ACQUISITIONS IN 1.9% 9/23/19 0.8 %
   
TOTAL 21.1 %

TOP ISSUERS
MORGAN STANLEY7.4%
CREDIT SUISSE NEW YORK NY3.4%
INTERNATIONAL BUSINESS MACHINES CO...3.2%
BANK OF AMERICA CORP1.8%
ROYAL BANK OF CANADA1.5%

TOP COUNTRY EXPOSURE
UNITED STATES 82.3 %
CANADA 5.4 %
SWITZERLAND 3.4 %
NETHERLANDS 1.3 %
FRANCE 1.2 %

 





HISTORICAL RETURNS info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru May 31)
Year-to-date 1 year 5 years 10 years Since Incep.
1.2% 1.9% 3.1% -- 3.4%

Market Correlations
versus... Beta R-squared
Barclays Agg. Bond 0.58 65%
S&P500 0.01 0%
MSCI EAFE 0.03 4%
MSCI Emg. Mkts. 0.05 15%

Technical Indicators
Recent close $21.25
Tracking Error 0.00
Avg. Premium/Discount 0.00%
Annualized volatility n/a %
Relative strength (RSI) 61
Liquidity measures
Avg. volume (thou.) 155
Avg. daily value traded (mns) $3
Turnover 0.3%
Bid/Ask (% of price) 0.14

Distributions


Yield Comparison

*Fund Category: CORPORATE

CREDIT QUALITY: MOODY'S

DISTRIBUTION YIELD (TRAILING 12 MONTHS)
Macaulay Duration info
 
BSCJ 2.0 yrs Category
Avg.*
4.4 yrs
 

Modified Duration info
 
BSCJ 2.0% Category
Avg.*
4.3%

RATE SENSITIVITY ANALYSIS info
Change
in YTM
New
YTM
Est. Price
Change
Est. New
Price
+300 bp 4.78% -1.8% $20.86
+200 bp 3.78% -2.2% $20.79
+150 bp 3.28% -2.0% $20.83
+100 bp 2.78% -1.6% $20.92
+75 bp 2.53% -1.3% $20.98
+50 bp 2.28% -0.9% $21.06
+25 bp 2.03% -0.5% $21.15
0 bp 1.78% 0% $21.25
-25 bp 1.53% 0.5% $21.36
-50 bp 1.28% 1.1% $21.49
-75 bp 1.03% 1.8% $21.63
-100 bp 0.78% 2.5% $21.78
-150 bp 0.28% 4.1% $22.12
-200 bp -0.22% 5.9% $22.51
-300 bp -1.22% 10.3% $23.44

*Fund Category: CORPORATE

ALTAR Score™


Calculation of ALTAR Score™
Adj. Yield to Maturity info 178 bp
Less: Annual "default factor" info 11 bp
Less: Expense ratio 24 bp
Equals: ALTAR Score 1.43 %
 

Average ALTAR Score™ by Category
Aggregate 1.5%
Corporate 1.8%
Emerging Market 3.8%
Government 1.4%
Inflation Protected 1.6%
Mortgage 2.7%
Municipals 2.5%
 
*Note: The Guggenheim BulletShares 2019 Corp Bond is classified as a Corporate fund.

 

Our estimate of the impact of potential defaults on investor returns, based on historical default and recovery rates for bonds of similar credit rating and maturities.
See RATING tab for calculations of ALTAR Score™
Estimate of fund sensitivity to interest rate changes based on modified duration and convexity adjustment applied to underlying bonds. Note: Less meaningful for inflation-indexed bonds.
Adds expected inflation to real YTM for inflation-linked bonds so that all instruments are compared on a nominal basis
Weighted-average term to maturity of the cash flows from a bond. All else being equal, bonds of longer duration are more sensitive to changes in interest rates than bonds of shorter duration.
Approximation of the change in bond prices given a 100 basis point shift in interest rates. A better estimate, particularly for larger moves in interest rates, is provided by the Rate Sensitivity Analysis below.