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MZG Description
The Guggenheim/Morningstar Manufacturing Super Sector Index ETF (the "Fund") seeks investment results that correspond generally to the performance, before the Fund’s fees and expenses, of an equity index called the Morningstar Manufacturing Super Sector Index (the “Index”). The Fund will at all times invest at least 90% of its total assets in securities 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 Advisor") 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, seeks to replicate, before fees and expenses, the performance of the Morningstar Manufacturing Super Sector Index. The Index is designed to identify and track companies in “smokestack” industries that process raw materials into physical goods that are sold into industrial and consumer markets. Eligible Index securities include the total investable universe of the consumer goods, industrial materials, energy and utilities sectors. Morningstar Inc. (“Morningstar” or the “Index Provider”) classifies companies into the industry that best reflects each company’s underlying business activities based on the largest source of revenue and income. Industry classification is based on publicly available information about each company, and is primarily obtained from such company’s annual report and Form 10-K. The securities in the universe are selected using a proprietary methodology developed by Morningstar.
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