New Guggenheim Funds Are Not New
June 10, 2011 at 08:35 AM EDT
Despite what you may have read, Guggenheim did not launch any new ETFs last week. You can safely ignore the headline in the Guggenheim press release. What really happened is buried deep within that press releasewhose headline is totally wrong: as of June 1, 2011, some already-existing ETFs received new names, new objectives, and deceptively higher expense ratios. Claymore U.S. Capital Markets Bond ETF (USB), was launched more than three years ago, only attracted $5.3 million in assets, traded rarely, and became a regular member of ETF Deathwatch. Rather than admit failure by closing USB, Guggenheim has given it a new name, new ticker symbol, and new objective. The CUSIP and the 3-year track record did not change. This . . . → Read More: New Guggenheim Funds Are Not New
