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Guggenheim Airline ETF (FAA)

FAA is defunct since March 15, 2013. Lack of investor interest
  • Oct. 25, 2011, 8:20 AM
    More on Delta Air Lines' (DAL) Q3 report: Passenger revenue $793M (+10% Y/Y). Cargo revenue $30M (+13% Y/Y). Excluding fuel hedging and other special items earned $0.91/share - boosted by capacity discipline. Sees cost reduction initiatives drive non-fuel cost growth to a 1% decline Y/Y. Says corporate travel remains strong. Shares -1.7% premarket. (PR)
    | Oct. 25, 2011, 8:20 AM | Comment!
  • Aug. 4, 2011, 8:25 AM
    More on Southwest Airlines' (LUV) Q2 report: Load factor and passenger yield at record highs, but can't keep up with fuel cost increases (+72% Y/Y). Trims capacity plans slightly on near-term negative outlook for fuel prices. Expects free cash flow for FY11 of $900M. (PR)
    | Aug. 4, 2011, 8:25 AM | Comment!
  • Jul. 21, 2011, 9:23 AM
    More on US Airways' (LCC) Q2 results: Net profit -44% Y/Y driven by higher fuel prices. Passenger load factor +0.9% Y/Y. Revenue passenger miles +4.4% Y/Y. CEO says mainline unit costs excluding fuel only up 1%. Issuing guidance on CC at 1:30 PM EST. (PR)
    | Jul. 21, 2011, 9:23 AM | Comment!
FAA Description
The Guggenheim/NYSE Arca Airline ETF (NYSE:FAA), the "Fund", seeks investment results that correspond generally to the performance, before the Fund's fees and expenses, of an equity index called the NYSE Arca Global Airline Index (the “Airline Index” or the “Index”). The Fund will at all times invest at least 80% of its total assets in common stock, American depositary receipts (“ADRs”) and global depositary receipts (“GDRs”) that comprise the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of the component securities that comprise the Index. Guggenheim 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, will seek to replicate, before the Fund’s fees and expenses, the performance of the Airline Index. The Airline Index is a modified equal-dollar weighted Index designed to measure the performance of highly capitalized and liquid U.S. and international passenger airline companies identified as being in the airline industry, as defined below, and listed on developed and emerging global market exchanges. The Fund’s Index Provider, Archipelago Holdings Inc. (“Arca” or the “Index Provider”), an affiliate of NYSE Euronext, Inc., defines “developed markets” as countries with western-style legal systems, transparent financial rules for financial reporting and sophisticated, liquid and accessible stock exchanges with readily-exchangeable currencies.
See more details on sponsor's website
Sector: Services
Country: United States
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