Guggenheim BulletShares 2018 H/Y Corp Bond
ALTAR
Score™
1.4% info Median Credit
S&P/Moody's
BB-/Ba3
 
Yield to
Maturity
5.0% Current
Yield
6.7%
Macaulay
Duration
2.5 yrs Modified
Duration
2.5%


  • Description
  • Performance
  • Fundamentals
  • Rate Sensitivity
  • Rating
Guggenheim BulletShares 2018 High Yield Corporate Bond ETF is an exchange-traded fund in the USA. The Fund seeks investment results that correspond, before the Fund's fees and expenses, to the BulletShares USD High Yield Corporate Bond 2018 Index.

FUND BASICS
Category Corporate
Fund Sponsor Guggenheim Funds Investment Ad
Website guggenheiminvestments.com
Inception date Apr 25, 2012
Assets (mns) $1,098
Currency USD
Expense ratio 42 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 122
No of distinct issuers 111
Inflation protected 0%
Variable/Fixed coupon 9% /91%
Non-standard maturity (callable, etc.) 36%

TOP TEN HOLDINGS
SPRINT NEXTEL CORPORA 9.0% 11/15/18 4.5 %
SLM CORP 8.5% 6/15/18 3.7 %
DOLLAR TREE, INC. 5.8% 3/01/23 3.7 %
CEVA GROUP PLC 4.0% 5/01/18 2.8 %
DIAMOND 1 FINANCE COR 5.9% 6/15/21 2.8 %
RITE AID CORP 6.1% 4/01/23 2.7 %
T-MOBILE USA INC 6.6% 4/01/23 2.1 %
EMC CORPORATION 1.9% 6/01/18 2.1 %
VPII ESCROW CORP 6.8% 8/15/18 2.0 %
CIT GROUP INC 5.3% 3/15/18 1.8 %
   
TOTAL 28.2 %

TOP ISSUERS
T-MOBILE USA INC4.8%
SPRINT NEXTEL CORPORATION4.5%
SLM CORP3.7%
DOLLAR TREE, INC.3.7%
CIT GROUP INC3.0%

TOP COUNTRY EXPOSURE
UNITED STATES 85.2 %
UNITED KINGDOM 2.8 %
CANADA 1.6 %
CAYMAN ISLANDS 1.1 %
LUXEMBOURG 0.2 %

 





HISTORICAL RETURNS info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru April 30)
Year-to-date 1 year 5 years 10 years Since Incep.
1.6% 7.7% -- -- 4.9%

Market Correlations
versus... Beta R-squared
Barclays Agg. Bond 0.21 2%
S&P500 0.27 43%
MSCI EAFE 0.23 44%
MSCI Emg. Mkts. 0.18 46%

Technical Indicators
Recent close $25.34
Tracking Error 0.00
Avg. Premium/Discount 0.00%
Annualized volatility n/a %
Relative strength (RSI) 55
Liquidity measures
Avg. volume (thou.) 25
Avg. daily value traded (mns) $1
Turnover 0.1%
Bid/Ask (% of price) 0.13

Distributions


Yield Comparison

*Fund Category: CORPORATE

CREDIT QUALITY: MOODY'S

DISTRIBUTION YIELD (TRAILING 12 MONTHS)
Macaulay Duration info
 
BSJI 2.5 yrs Category
Avg.*
4.5 yrs
 

Modified Duration info
 
BSJI 2.5% Category
Avg.*
4.4%

RATE SENSITIVITY ANALYSIS info
Change
in YTM
New
YTM
Est. Price
Change
Est. New
Price
+300 bp 7.96% -2.6% $24.67
+200 bp 6.96% -2.8% $24.63
+150 bp 6.46% -2.5% $24.71
+100 bp 5.96% -1.9% $24.85
+75 bp 5.71% -1.6% $24.95
+50 bp 5.46% -1.1% $25.06
+25 bp 5.21% -0.6% $25.19
0 bp 4.96% 0% $25.34
-25 bp 4.71% 0.6% $25.50
-50 bp 4.46% 1.4% $25.69
-75 bp 4.21% 2.1% $25.88
-100 bp 3.96% 3.0% $26.10
-150 bp 3.46% 4.9% $26.58
-200 bp 2.96% 7.0% $27.13
-300 bp 1.96% 12.2% $28.42

*Fund Category: CORPORATE

ALTAR Score™


Calculation of ALTAR Score™
Adj. Yield to Maturity info 496 bp
Less: Annual "default factor" info 316 bp
Less: Expense ratio 42 bp
Equals: ALTAR Score 1.38 %
 

Average ALTAR Score™ by Category
Aggregate 1.6%
Corporate 1.9%
Emerging Market 3.9%
Government 1.4%
Inflation Protected 1.4%
Mortgage 2.8%
Municipals 2.4%
 
*Note: The Guggenheim BulletShares 2018 H/Y 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.