UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21261

Rydex ETF Trust

(Exact name of registrant as specified in charter)

805 King Farm Boulevard, Suite 600, Rockville, Maryland 20850

(Address of principal executive offices) (Zip code)

Donald C. Cacciapaglia

Rydex ETF Trust

805 King Farm Boulevard, Suite 600

Rockville, Maryland 20850

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1-301-296-5100

Date of fiscal year end: October 31

Date of reporting period: January 31, 2013

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1.      Schedule of Investments.

Attached hereto.

GUGGENHEIM S&P 500® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 99.8%
Aerospace & Defense 2.1%
Boeing Co.(The)		96,355	$	7,117,744
General Dynamics Corp.		105,702		7,008,043
Honeywell International, Inc.		115,803		7,902,397
L-3 Communications Holdings, Inc.		94,776		7,195,394
Lockheed Martin Corp.		80,158		6,963,325
Northrop Grumman Corp.		106,830		6,948,223
Precision Castparts Corp.		38,678		7,093,545
Raytheon Co.		123,981		6,531,319
Rockwell Collins, Inc.		126,440		7,444,787
Textron, Inc.		293,867		8,451,615
United Technologies Corp.		89,228		7,813,696
Total Aerospace & Defense				80,470,088
Air Freight & Logistics 0.8%
C.H. Robinson Worldwide, Inc.		115,833		7,662,353
Expeditors International of Washington, Inc.		186,513		8,001,408
FedEx Corp.		79,103		8,024,999
United Parcel Service, Inc. - Class B		97,876		7,760,588
Total Air Freight & Logistics				31,449,348
Airlines 0.2%
Southwest Airlines Co.		699,775		7,844,478
Total Airlines				7,844,478
Auto Components 0.8%
BorgWarner, Inc.*		107,287		7,958,550
Delphi Automotive PLC*		208,101		8,045,184
Goodyear Tire & Rubber Co.(The)*		550,587		7,576,077
Johnson Controls, Inc.		252,844		7,860,920
Total Auto Components				31,440,731
Automobiles 0.4%
Ford Motor Co.		642,447		8,319,689
Harley-Davidson, Inc.		149,138		7,817,814
Total Automobiles				16,137,503
Beverages 1.7%
Beam, Inc.		116,793		7,164,083
Brown-Forman Corp. - Class B		112,699		7,291,625
Coca-Cola Co.(The)		189,279		7,048,750
Coca-Cola Enterprises, Inc.		230,351		8,032,339
Constellation Brands, Inc. - Class A*		202,066		6,538,856
Dr Pepper Snapple Group, Inc.		159,853		7,204,575
Molson Coors Brewing Co. - Class B		165,688		7,485,784
Monster Beverage Corp.*		133,438		6,391,680
PepsiCo, Inc.		101,672		7,406,805
Total Beverages				64,564,497
Biotechnology 1.0%
Alexion Pharmaceuticals, Inc.*		76,309		7,172,283
Amgen, Inc.		79,974		6,834,578
Biogen Idec, Inc.*		47,202		7,367,288
Celgene Corp.*		89,830		8,889,577
Gilead Sciences, Inc.*		192,232		7,583,552
Total Biotechnology				37,847,278
Building Products 0.2%
Masco Corp.		442,435		8,136,380
Total Building Products				8,136,380
Capital Markets 2.8%
Ameriprise Financial, Inc.		116,529		7,728,203

	Shares		Value
Bank of New York Mellon Corp.(The)		288,403	$	7,833,026
BlackRock, Inc.		35,375		8,358,405
Charles Schwab Corp.(The)		520,477		8,603,485
E*Trade Financial Corp.*		856,027		9,082,446
Franklin Resources, Inc.		56,089		7,677,462
Goldman Sachs Group, Inc.(The)		59,747		8,834,191
Invesco Ltd.		280,053		7,631,444
Legg Mason, Inc.		284,272		7,860,121
Morgan Stanley		395,101		9,028,058
Northern Trust Corp.		151,260		7,785,352
State Street Corp.		156,861		8,729,315
T. Rowe Price Group, Inc.		111,448		7,962,960
Total Capital Markets				107,114,468
Chemicals 3.2%
Air Products & Chemicals, Inc.		86,463		7,559,460
Airgas, Inc.		80,143		7,632,819
CF Industries Holdings, Inc.		34,526		7,912,323
Dow Chemical Co.(The)		226,944		7,307,597
Du Pont (E.I.) de Nemours & Co.		161,726		7,673,899
Eastman Chemical Co.		110,219		7,842,082
Ecolab, Inc.		101,038		7,315,151
FMC Corp.		125,484		7,713,502
International Flavors & Fragrances, Inc.		108,572		7,646,726
LyondellBasell Industries NV - Class A		132,650		8,412,663
Monsanto Co.		80,026		8,110,635
Mosaic Co.(The)		128,256		7,855,680
PPG Industries, Inc.(a)		54,807		7,556,241
Praxair, Inc.		66,656		7,356,823
Sherwin-Williams Co.(The)		48,030		7,787,584
Sigma-Aldrich Corp.		98,164		7,591,022
Total Chemicals				123,274,207
Commercial Banks 2.7%
BB&T Corp.		252,151		7,635,132
Comerica, Inc.		248,784		8,548,218
Fifth Third Bancorp		496,672		8,090,787
First Horizon National Corp.		758,591		7,745,214
Huntington Bancshares, Inc.		1,157,595		8,056,861
KeyCorp		876,064		8,235,002
M&T Bank Corp.(a)		72,906		7,486,717
PNC Financial Services Group, Inc.		127,682		7,890,748
Regions Financial Corp.		1,064,291		8,280,184
SunTrust Banks, Inc.		263,445		7,473,935
US Bancorp		227,067		7,515,918
Wells Fargo & Co.		215,046		7,490,052
Zions Bancorp		346,197		8,073,314
Total Commercial Banks				102,522,082
Commercial Services & Supplies 1.8%
ADT Corp.(The)		155,290		7,376,275
Avery Dennison Corp.		209,662		8,074,084
Cintas Corp.		171,472		7,246,407
Iron Mountain, Inc.		230,541		7,886,807
Pitney Bowes, Inc.(a)		667,788		9,622,825
Republic Services, Inc.		244,761		7,805,428
Stericycle, Inc.*		76,408		7,209,095
Tyco International Ltd.		249,799		7,551,424
Waste Management, Inc.		212,351		7,725,329
Total Commercial Services & Supplies				70,497,674
Communications Equipment 1.4%
Cisco Systems, Inc.		359,002		7,384,671
F5 Networks, Inc.*		78,861		8,270,942
Harris Corp.		148,044		6,839,633
JDS Uniphase Corp.*		566,800		8,224,268

GUGGENHEIM S&P 500® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Juniper Networks, Inc.*		364,019	$	8,146,745
Motorola Solutions, Inc.		131,911		7,702,283
QUALCOMM, Inc.		119,237		7,873,219
Total Communications Equipment				54,441,761
Computers & Peripherals 1.7%
Apple, Inc.		13,953		6,352,941
Dell, Inc.		683,645		9,051,460
EMC Corp.*		288,403		7,097,598
Hewlett-Packard Co.		483,477		7,982,205
NetApp, Inc.*		216,132		7,780,752
SanDisk Corp.*		167,114		8,354,029
Seagate Technology PLC		257,931		8,764,495
Western Digital Corp.		188,760		8,871,720
Total Computers & Peripherals				64,255,200
Construction & Engineering 0.6%
Fluor Corp.		124,916		8,098,304
Jacobs Engineering Group, Inc.*		172,499		8,298,927
Quanta Services, Inc.*		263,276		7,627,106
Total Construction & Engineering				24,024,337
Construction Materials 0.2%
Vulcan Materials Co.		138,249		7,819,363
Total Construction Materials				7,819,363
Consumer Finance 0.7%
American Express Co.		125,944		7,406,767
Capital One Financial Corp.		125,410		7,063,091
Discover Financial Services		180,395		6,925,364
SLM Corp.		426,940		7,211,017
Total Consumer Finance				28,606,239
Containers & Packaging 0.8%
Ball Corp.		161,223		7,177,648
Bemis Co., Inc.		218,680		7,802,502
Owens-Illinois, Inc.*		355,050		8,450,190
Sealed Air Corp.		442,012		8,274,465
Total Containers & Packaging				31,704,805
Distributors 0.2%
Genuine Parts Co.		114,082		7,760,998
Total Distributors				7,760,998
Diversified Consumer Services 0.4%
Apollo Group, Inc. - Class A*		338,761		6,849,747
H&R Block, Inc.		383,344		8,728,743
Total Diversified Consumer Services				15,578,490
Diversified Financial Services 1.9%
Bank of America Corp.		673,976		7,629,408
Citigroup, Inc.		189,726		7,998,848
CME Group, Inc.		139,037		8,041,900
IntercontinentalExchange, Inc.*		55,746		7,734,758
JPMorgan Chase & Co.		166,645		7,840,647
Leucadia National Corp.		306,526		7,801,087
Moody’s Corp.		148,044		8,115,772
NASDAQ OMX Group, Inc.(The)		294,579		8,342,477
NYSE Euronext		304,122		10,513,498
Total Diversified Financial Services				74,018,395
Diversified Telecommunication Services 1.0%
AT&T, Inc.		209,606		7,292,193
CenturyLink, Inc.		182,490		7,381,720
Frontier Communications Corp.(a)		1,550,184		7,084,341
Verizon Communications, Inc.		161,349		7,036,430

	Shares		Value
Windstream Corp.(a)		810,432	$	7,893,608
Total Diversified Telecommunication Services				36,688,292
Electric Utilities 2.5%
American Electric Power Co., Inc.		166,544		7,542,778
Duke Energy Corp.		111,703		7,678,464
Edison International		159,111		7,667,559
Entergy Corp.		112,515		7,268,469
Exelon Corp.		240,428		7,559,056
FirstEnergy Corp.		174,992		7,085,426
NextEra Energy, Inc.		102,730		7,401,697
Northeast Utilities		184,372		7,509,472
Pepco Holdings, Inc.		366,491		7,153,904
Pinnacle West Capital Corp.		140,430		7,496,153
PPL Corp.		247,628		7,500,652
Southern Co.(The)		165,989		7,341,694
Xcel Energy, Inc.		264,726		7,354,088
Total Electric Utilities				96,559,412
Electrical Equipment 0.8%
Eaton Corp. PLC		135,677		7,726,805
Emerson Electric Co.		137,713		7,884,069
Rockwell Automation, Inc.		86,732		7,735,627
Roper Industries, Inc.		64,881		7,620,274
Total Electrical Equipment				30,966,775
Electronic Equipment, Instruments & Components 1.2%
Amphenol Corp. - Class A		114,036		7,705,413
Corning, Inc.		565,064		6,780,768
FLIR Systems, Inc.		350,278		8,326,108
Jabil Circuit, Inc.		407,290		7,701,854
Molex, Inc.(a)		267,152		7,255,848
TE Connectivity Ltd.		197,221		7,667,952
Total Electronic Equipment, Instruments & Components				45,437,943
Energy Equipment & Services 2.6%
Baker Hughes, Inc.		173,594		7,763,124
Cameron International Corp.*		134,082		8,488,732
Diamond Offshore Drilling, Inc.(a)		105,824		7,946,324
Ensco PLC - Class A		124,183		7,894,313
FMC Technologies, Inc.*		175,584		8,313,902
Halliburton Co.		213,525		8,686,197
Helmerich & Payne, Inc.		132,904		8,551,043
Nabors Industries Ltd.*		520,152		8,670,934
National Oilwell Varco, Inc.		109,943		8,151,174
Noble Corp.		210,542		8,526,951
Rowan Cos., PLC - Class A*		226,635		7,814,375
Schlumberger Ltd.		103,448		8,074,116
Total Energy Equipment & Services				98,881,185
Food & Staples Retailing 1.6%
Costco Wholesale Corp.		73,547		7,526,800
CVS Caremark Corp.		144,894		7,418,573
Kroger Co.(The)		271,307		7,515,204
Safeway, Inc.(a)		403,942		7,775,883
Sysco Corp.		224,473		7,131,507
Wal-Mart Stores, Inc.		103,656		7,250,737
Walgreen Co.		194,026		7,753,279
Whole Foods Market, Inc.		80,486		7,746,778
Total Food & Staples Retailing				60,118,761
Food Products 2.9%
Archer-Daniels-Midland Co.		263,276		7,511,264
Campbell Soup Co.(a)		200,508		7,360,649
ConAgra Foods, Inc.		236,496		7,731,054

2

GUGGENHEIM S&P 500® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Dean Foods Co.*		433,248	$	7,932,771
General Mills, Inc.		172,106		7,218,126
H.J. Heinz Co.		120,657		7,315,434
Hershey Co.(The)		96,355		7,655,405
Hormel Foods Corp.		229,333		7,937,215
J.M. Smucker Co.(The)		81,933		7,261,722
Kellogg Co.		125,809		7,359,826
Kraft Foods Group, Inc.		153,036		7,073,324
McCormick & Co., Inc.		110,602		6,896,035
Mead Johnson Nutrition Co.		108,330		8,233,080
Mondelez International, Inc. - Class A		274,015		7,614,877
Tyson Foods, Inc. - Class A		362,872		8,026,728
Total Food Products				113,127,510
Gas Utilities 0.4%
AGL Resources, Inc.		179,773		7,514,511
Oneok, Inc.		166,154		7,810,900
Total Gas Utilities				15,325,411
Health Care Equipment & Supplies 3.0%
Abbott Laboratories		238,984		8,096,778
Baxter International, Inc.		108,204		7,340,559
Becton, Dickinson and Co.		91,838		7,718,066
Boston Scientific Corp.*		1,257,706		9,395,064
C.R. Bard, Inc.		74,197		7,573,288
CareFusion Corp.*		253,963		7,883,011
Covidien PLC		124,616		7,768,561
DENTSPLY International, Inc.		179,540		7,497,590
Edwards Lifesciences Corp.*		78,407		7,051,141
Intuitive Surgical, Inc.*		13,407		7,700,713
Medtronic, Inc.		170,276		7,934,862
St Jude Medical, Inc.		201,690		8,208,783
Stryker Corp.		127,820		8,007,923
Varian Medical Systems, Inc.*		100,449		7,096,722
Zimmer Holdings, Inc.		106,011		7,908,421
Total Health Care Equipment & Supplies				117,181,482
Health Care Providers & Services 3.0%
Aetna, Inc.		156,418		7,544,040
AmerisourceBergen Corp.		164,446		7,460,915
Cardinal Health, Inc.		168,494		7,381,722
CIGNA Corp.		134,496		7,846,497
Coventry Health Care, Inc.		160,408		7,351,499
DaVita, Inc.*		65,356		7,542,736
Express Scripts Holding Co.*		130,249		6,957,902
Humana, Inc.		107,790		8,015,264
Laboratory Corp. of America Holdings*		81,820		7,322,890
McKesson Corp.		72,498		7,628,964
Patterson Cos., Inc.		214,267		7,741,467
Quest Diagnostics, Inc.		120,571		6,987,089
Tenet Healthcare Corp.*		232,737		9,037,178
UnitedHealth Group, Inc.		131,911		7,282,806
WellPoint, Inc.		121,966		7,905,836
Total Health Care Providers & Services				114,006,805
Health Care Technology 0.2%
Cerner Corp.*		92,341		7,622,750
Total Health Care Technology				7,622,750
Hotels, Restaurants & Leisure 2.2%
Carnival Corp.		189,018		7,318,777
Chipotle Mexican Grill, Inc.*		25,734		7,900,595
Darden Restaurants, Inc.		153,490		7,137,285
International Game Technology		494,219		7,596,146
Marriott International, Inc. - Class A		197,408		7,892,372
McDonald’s Corp.		80,219		7,644,069

	Shares		Value
Starbucks Corp.		133,567	$	7,495,780
Starwood Hotels & Resorts Worldwide, Inc.		131,932		8,101,944
Wyndham Worldwide Corp.		141,797		7,910,855
Wynn Resorts Ltd.		62,661		7,846,410
Yum! Brands, Inc.		104,963		6,816,297
Total Hotels, Restaurants & Leisure				83,660,530
Household Durables 1.6%
DR Horton, Inc.		380,502		9,002,677
Garmin Ltd.(a)		175,286		6,641,587
Harman International Industries, Inc.		169,512		7,590,747
Leggett & Platt, Inc.		270,498		7,963,461
Lennar Corp. - Class A(a)		191,186		7,941,867
Newell Rubbermaid, Inc.		324,590		7,621,373
PulteGroup, Inc.*		415,993		8,627,695
Whirlpool Corp.		71,155		8,209,864
Total Household Durables				63,599,271
Household Products 0.8%
Clorox Co.(The)		94,647		7,421,271
Colgate-Palmolive Co.		67,450		7,242,107
Kimberly-Clark Corp.		83,899		7,509,799
Procter & Gamble Co.(The)		101,961		7,663,389
Total Household Products				29,836,566
Independent Power Producers & Energy Traders 0.4%
AES Corp.(The)		664,010		7,197,868
NRG Energy, Inc.		310,000		7,440,000
Total Independent Power Producers & Energy Traders				14,637,868
Industrial Conglomerates 0.6%
3M Co.		77,297		7,772,213
Danaher Corp.		130,743		7,835,428
General Electric Co.		329,871		7,349,526
Total Industrial Conglomerates				22,957,167
Insurance 4.5%
ACE Ltd.		89,866		7,668,266
AFLAC, Inc.		134,039		7,112,109
Allstate Corp.(The)		177,543		7,794,138
American International Group, Inc.*		210,171		7,950,769
Aon PLC		126,808		7,321,894
Assurant, Inc.		206,460		7,895,030
Berkshire Hathaway, Inc. - Class B*		80,011		7,755,466
Chubb Corp.(The)		93,687		7,524,003
Cincinnati Financial Corp.		179,951		7,637,120
Genworth Financial, Inc. - Class A*		1,024,525		9,394,894
Hartford Financial Services Group, Inc.		335,029		8,308,719
Lincoln National Corp.		282,052		8,173,867
Loews Corp.		175,397		7,606,968
Marsh & McLennan Cos., Inc.		208,361		7,392,648
MetLife, Inc.		223,988		8,363,712
Principal Financial Group, Inc.		259,250		8,039,343
Progressive Corp.(The)		339,714		7,640,168
Prudential Financial, Inc.		140,025		8,104,647
Torchmark Corp.		141,024		7,856,447
Travelers Cos., Inc.(The)		97,278		7,632,432
Unum Group		342,339		7,979,922
XL Group PLC		293,555		8,137,345
Total Insurance				173,289,907
Internet & Catalog Retail 1.1%
Amazon.com, Inc.*		28,604		7,594,362
Expedia, Inc.		120,887		7,887,877

3

GUGGENHEIM S&P 500® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Netflix, Inc.*		76,389	$	12,622,518
priceline.com, Inc.*		11,702		8,021,370
TripAdvisor, Inc.*		171,134		7,920,082
Total Internet & Catalog Retail				44,046,209
Internet Software & Services 1.0%
Akamai Technologies, Inc.*		183,084		7,453,350
eBay, Inc.*		141,555		7,917,171
Google, Inc. - Class A*		10,070		7,609,798
VeriSign, Inc.*		198,592		8,620,879
Yahoo!, Inc.*		363,032		7,126,318
Total Internet Software & Services				38,727,516
IT Services 2.7%
Accenture PLC - Class A		101,611		7,304,815
Automatic Data Processing, Inc.		124,147		7,360,676
Cognizant Technology Solutions Corp. - Class A*		98,247		7,680,950
Computer Sciences Corp.		180,159		7,530,646
Fidelity National Information Services, Inc.		200,996		7,458,962
Fiserv, Inc.*		89,529		7,190,074
International Business Machines Corp.		37,117		7,537,349
Mastercard, Inc. - Class A		14,808		7,676,467
Paychex, Inc.		211,593		6,904,280
SAIC, Inc.		611,089		7,394,177
Teradata Corp.*		119,927		7,994,334
Total System Services, Inc.		324,719		7,549,717
Visa, Inc. - Class A		48,616		7,676,952
Western Union Co.(The)		543,856		7,739,071
Total IT Services				104,998,470
Leisure Equipment & Products 0.4%
Hasbro, Inc.(a)		192,888		7,208,225
Mattel, Inc.		193,023		7,263,455
Total Leisure Equipment & Products				14,471,680
Life Sciences Tools & Services 1.1%
Agilent Technologies, Inc.		178,997		8,015,486
Life Technologies Corp.*		144,177		9,326,810
PerkinElmer, Inc.		226,880		7,995,251
Thermo Fisher Scientific, Inc.		111,105		8,015,115
Waters Corp.*		81,618		7,473,760
Total Life Sciences Tools & Services				40,826,422
Machinery 3.0%
Caterpillar, Inc.		80,127		7,883,696
Cummins, Inc.		67,012		7,694,988
Deere & Co.		82,970		7,804,158
Dover Corp.		111,642		7,723,394
Flowserve Corp.		50,177		7,866,248
Illinois Tool Works, Inc.		119,256		7,492,854
Ingersoll-Rand PLC		149,758		7,696,064
Joy Global, Inc.		115,656		7,305,990
PACCAR, Inc.		162,487		7,646,638
Pall Corp.		118,351		8,083,373
Parker Hannifin Corp.		85,435		7,942,892
Pentair Ltd.		148,599		7,530,997
Snap-on, Inc.		91,476		7,411,385
Stanley Black & Decker, Inc.		100,075		7,688,762
Xylem, Inc.		266,447		7,441,865
Total Machinery				115,213,304
Media 3.2%
Cablevision Systems Corp. - Class A		493,149		7,219,701
CBS Corp. - Class B		204,792		8,543,922

	Shares		Value
Comcast Corp. - Class A		195,268	$	7,435,805
DIRECTV*		143,067		7,316,446
Discovery Communications, Inc. - Class A*		117,173		8,129,463
Gannett Co., Inc.		405,119		7,952,486
Interpublic Group of Cos., Inc.(The)		654,296		7,923,525
McGraw-Hill Cos., Inc.(The)		132,058		7,595,976
News Corp. - Class A		292,021		8,100,662
Omnicom Group, Inc.		144,996		7,870,383
Scripps Networks Interactive, Inc. - Class A		122,779		7,584,059
Time Warner Cable, Inc.		75,843		6,775,814
Time Warner, Inc.		152,423		7,700,410
Viacom, Inc. - Class B		134,582		8,122,024
Walt Disney Co.(The)		146,544		7,895,791
Washington Post Co.(The) - Class B		19,463		7,506,490
Total Media				123,672,957
Metals & Mining 1.3%
Alcoa, Inc.		815,976		7,213,228
Allegheny Technologies, Inc.		250,817		7,938,358
Cliffs Natural Resources, Inc.(a)		210,063		7,837,451
Freeport-McMoRan Copper & Gold, Inc.		211,026		7,438,666
Newmont Mining Corp.		161,098		6,920,770
Nucor Corp.		168,632		7,758,758
United States Steel Corp.(a)		298,973		6,682,047
Total Metals & Mining				51,789,278
Multi-Utilities 2.7%
Ameren Corp.		242,304		7,860,342
CenterPoint Energy, Inc.		362,556		7,410,645
CMS Energy Corp.		296,667		7,624,342
Consolidated Edison, Inc.		127,155		7,232,576
Dominion Resources, Inc.		139,390		7,542,393
DTE Energy Co.		117,830		7,459,817
Integrys Energy Group, Inc.		134,824		7,373,525
NiSource, Inc.		295,210		7,979,526
PG&E Corp.		176,111		7,509,373
Public Service Enterprise Group, Inc.		237,297		7,398,920
SCANA Corp.		156,240		7,313,594
Sempra Energy		99,655		7,479,108
TECO Energy, Inc.		429,535		7,632,837
Wisconsin Energy Corp.		192,529		7,591,419
Total Multi-Utilities				105,408,417
Multiline Retail 1.7%
Big Lots, Inc.*		262,003		8,423,397
Dollar General Corp.*		162,741		7,521,889
Dollar Tree, Inc.*		184,618		7,382,874
Family Dollar Stores, Inc.		108,330		6,142,311
J.C. Penney Co., Inc.(a)		339,855		6,909,252
Kohl’s Corp.		162,836		7,537,678
Macy’s, Inc.		187,335		7,401,606
Nordstrom, Inc.		136,692		7,549,499
Target Corp.		117,912		7,123,064
Total Multiline Retail				65,991,570
Office Electronics 0.2%
Xerox Corp.		1,023,071		8,194,799
Total Office Electronics				8,194,799
Oil, Gas & Consumable Fuels 6.3%
Anadarko Petroleum Corp.		95,530		7,644,311
Apache Corp.		92,556		7,752,491
Cabot Oil & Gas Corp.		152,367		8,041,930
Chesapeake Energy Corp.		430,617		8,689,851

4

GUGGENHEIM S&P 500® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Chevron Corp.		66,178	$	7,620,397
ConocoPhillips		123,610		7,169,380
CONSOL Energy, Inc.		211,646		6,632,986
Denbury Resources, Inc.*		449,139		8,367,460
Devon Energy Corp.		137,326		7,853,674
EOG Resources, Inc.		59,907		7,487,177
EQT Corp.		125,904		7,479,957
Exxon Mobil Corp.		81,038		7,290,989
Hess Corp.		138,758		9,318,987
Kinder Morgan, Inc.		211,538		7,924,213
Marathon Oil Corp.		231,314		7,774,464
Marathon Petroleum Corp.		113,583		8,428,994
Murphy Oil Corp.		120,050		7,145,376
Newfield Exploration Co.*		276,867		8,167,576
Noble Energy, Inc.		71,204		7,675,079
Occidental Petroleum Corp.		93,635		8,265,161
Peabody Energy Corp.		257,689		6,480,878
Phillips 66		133,331		8,075,859
Pioneer Natural Resources Co.		69,269		8,141,878
QEP Resources, Inc.		240,357		7,054,478
Range Resources Corp.		114,889		7,717,094
Southwestern Energy Co.*		216,472		7,424,990
Spectra Energy Corp.		262,252		7,285,361
Tesoro Corp.		163,287		7,950,444
Valero Energy Corp.		213,636		9,342,302
Williams Cos., Inc.(The)		226,509		7,939,140
WPX Energy, Inc.*		460,383		6,919,556
Total Oil, Gas & Consumable Fuels				241,062,433
Paper & Forest Products 0.4%
International Paper Co.		187,377		7,761,155
MeadWestvaco Corp.		235,365		7,378,693
Total Paper & Forest Products				15,139,848
Personal Products 0.4%
Avon Products, Inc.		506,804		8,605,532
Estee Lauder Cos., Inc.(The) - Class A		117,008		7,129,297
Total Personal Products				15,734,829
Pharmaceuticals 2.3%
AbbVie, Inc.		207,167		7,600,957
Actavis, Inc.*		81,308		7,024,198
Allergan, Inc.		77,784		8,168,098
Bristol-Myers Squibb Co.		217,800		7,871,292
Eli Lilly & Co.		149,246		8,013,018
Forest Laboratories, Inc.*		199,738		7,250,489
Hospira, Inc.*		223,988		7,642,471
Johnson & Johnson		100,829		7,453,280
Merck & Co., Inc.		163,864		7,087,118
Mylan, Inc.*		255,012		7,209,189
Perrigo Co.		68,364		6,871,266
Pfizer, Inc.		283,493		7,733,689
Total Pharmaceuticals				89,925,065
Professional Services 0.6%
Dun & Bradstreet Corp.(The)		88,545		7,219,959
Equifax, Inc.		134,539		7,897,439
Robert Half International, Inc.		239,869		8,452,984
Total Professional Services				23,570,382
Real Estate Investment Trusts (REITs) 3.1%
American Tower Corp.		92,921		7,075,934
Apartment Investment & Management Co. - Class A		278,918		7,608,883
AvalonBay Communities, Inc.		53,857		6,990,100
Boston Properties, Inc.		68,487		7,210,311

	Shares		Value
Equity Residential		128,587	$	7,122,434
HCP, Inc.		161,410		7,487,810
Health Care REIT, Inc.		122,399		7,691,553
Host Hotels & Resorts, Inc.		467,301		7,845,984
Kimco Realty Corp.		369,649		7,677,610
Plum Creek Timber Co., Inc.		167,556		8,072,848
ProLogis, Inc.		203,246		8,109,515
Public Storage		50,812		7,821,491
Simon Property Group, Inc.		46,276		7,412,490
Ventas, Inc.		113,785		7,542,808
Vornado Realty Trust		92,289		7,794,729
Weyerhaeuser Co.		260,909		7,858,579
Total Real Estate Investment Trusts (REITs)				121,323,079
Real Estate Management & Development 0.2%
CBRE Group, Inc.*		371,330		8,013,301
Total Real Estate Management & Development				8,013,301
Road & Rail 0.8%
CSX Corp.		360,787		7,948,138
Norfolk Southern Corp.		116,302		8,009,719
Ryder System, Inc.		143,803		8,165,134
Union Pacific Corp.		57,328		7,536,339
Total Road & Rail				31,659,330
Semiconductors & Semiconductor Equipment 3.3%
Advanced Micro Devices, Inc.*(a)		2,983,662		7,757,521
Altera Corp.		217,058		7,254,078
Analog Devices, Inc.		172,465		7,526,373
Applied Materials, Inc.		644,133		8,315,757
Broadcom Corp. - Class A		222,476		7,219,346
First Solar, Inc.*(a)		218,968		6,170,518
Intel Corp.		347,549		7,312,431
KLA-Tencor Corp.		151,095		8,296,626
Lam Research Corp.*		196,004		8,063,605
Linear Technology Corp.		212,296		7,774,279
LSI Corp.*		1,056,502		7,437,774
Microchip Technology, Inc.		225,518		7,543,577
Micron Technology, Inc.*		1,042,516		7,881,421
NVIDIA Corp.		566,410		6,944,187
Teradyne, Inc.*		432,380		6,987,261
Texas Instruments, Inc.		231,762		7,666,687
Xilinx, Inc.		201,532		7,353,903
Total Semiconductors & Semiconductor Equipment				127,505,344
Software 2.4%
Adobe Systems, Inc.*		189,815		7,180,701
Autodesk, Inc.*		208,309		8,099,054
BMC Software, Inc.*		177,543		7,376,911
CA, Inc.		326,185		8,095,912
Citrix Systems, Inc.*		109,725		8,027,481
Electronic Arts, Inc.*		466,060		7,331,124
Intuit, Inc.		118,452		7,389,036
Microsoft Corp.		266,021		7,307,597
Oracle Corp.		223,074		7,921,358
Red Hat, Inc.*		142,085		7,894,242
Salesforce.com, Inc.*		42,661		7,343,238
Symantec Corp.*		381,740		8,310,480
Total Software				92,277,134
Specialty Retail 3.6%
Abercrombie & Fitch Co. - Class A		152,395		7,619,750
AutoNation, Inc.*		185,676		9,005,286
AutoZone, Inc.*		20,000		7,394,000
Bed Bath & Beyond, Inc.*		122,451		7,187,874
Best Buy Co., Inc.		591,853		9,623,530

5

GUGGENHEIM S&P 500® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (concluded)	January 31, 2013

	Shares		Value
CarMax, Inc.*		203,397	$	8,017,910
GameStop Corp. - Class A(a)		259,250		6,014,600
Gap, Inc.(The)		226,757		7,410,419
Home Depot, Inc.		114,984		7,694,729
Limited Brands, Inc.		141,411		6,790,556
Lowe’s Cos., Inc.		206,871		7,900,404
O’Reilly Automotive, Inc.*		79,756		7,389,393
PetSmart, Inc.		103,012		6,738,015
Ross Stores, Inc.		134,146		8,008,516
Staples, Inc.		610,461		8,229,014
Tiffany & Co.		122,687		8,066,670
TJX Cos., Inc.		167,317		7,559,382
Urban Outfitters, Inc.*		184,740		7,905,025
Total Specialty Retail				138,555,073
Textiles, Apparel & Luxury Goods 1.0%
Coach, Inc.		124,993		6,374,643
Fossil, Inc.*		78,668		8,305,768
NIKE, Inc. - Class B		147,105		7,951,025
Ralph Lauren Corp.		47,515		7,910,297
V.F. Corp.		48,043		7,090,186
Total Textiles, Apparel & Luxury Goods				37,631,919
Thrifts & Mortgage Finance 0.4%
Hudson City Bancorp, Inc.		892,491		7,630,798
People’s United Financial, Inc.		586,490		7,219,692
Total Thrifts & Mortgage Finance				14,850,490
Tobacco 0.7%
Altria Group, Inc.		214,991		7,240,897
Lorillard, Inc.		179,169		7,000,133
Philip Morris International, Inc.		81,299		7,167,320
Reynolds American, Inc.		166,746		7,333,489
Total Tobacco				28,741,839
Trading Companies & Distributors 0.4%
Fastenal Co.		165,425		8,218,314
W.W. Grainger, Inc.		37,558		8,180,884
Total Trading Companies & Distributors				16,399,198
Wireless Telecommunication Services 0.6%
Crown Castle International Corp.*		100,256		7,070,053
MetroPCS Communications, Inc.*		709,489		7,116,175
Sprint Nextel Corp.*		1,284,893		7,233,947
Total Wireless Telecommunication Services				21,420,175
Total Common Stocks (Cost $3,495,295,894)				3,850,556,018
	Face
	Amount
REPURCHASE AGREEMENT 0.1%
State Street Bank & Trust Co., 0.01%, dated 01/31/13, to be repurchased at $2,881,001 on 02/01/13 collateralized by $3,025,000 FHLMC at 2.000% due 01/30/23 with a value of $2,942,327(b)	$	2,881,000		2,881,000
Total Repurchase Agreements (Cost $2,881,000)				2,881,000

	Face
	Amount		Value
SECURITIES LENDING COLLATERAL 1.7%(c)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(b)	$	18,806,509	$	18,806,509
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(b)		18,806,509		18,806,509
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(b)		26,775,955		26,775,955
Total Securities Lending Collateral (Cost $64,388,973)				64,388,973
Total Investments 101.6%(d) (Cost $3,562,565,867)				3,917,825,991
Other Assets and Liabilities, net – (1.6)%				(62,764,333	)
Net Assets – 100.0%			$	3,855,061,658

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013

(b) Values determined based on Level 2 inputs (Note G).

(c) Securities lending collateral (Note H).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

6

GUGGENHEIM S&P MIDCAP 400® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 99.8%
Aerospace & Defense 1.4%
Alliant Techsystems, Inc.		130	$	8,414
BE Aerospace, Inc.*		167		8,599
Esterline Technologies Corp.*		124		8,232
Exelis, Inc.		681		7,484
Huntington Ingalls Industries, Inc.		193		8,550
Triumph Group, Inc.		127		8,937
Total Aerospace & Defense				50,216
Air Freight & Logistics 0.3%
UTi Worldwide, Inc.		610		9,004
Total Air Freight & Logistics				9,004
Airlines 0.5%
Alaska Air Group, Inc.*		185		8,534
JetBlue Airways Corp.*		1,444		8,390
Total Airlines				16,924
Auto Components 0.2%
Gentex Corp.		440		8,417
Total Auto Components				8,417
Automobiles 0.3%
Thor Industries, Inc.		221		9,300
Total Automobiles				9,300
Biotechnology 0.7%
Regeneron Pharmaceuticals, Inc.*		44		7,653
United Therapeutics Corp.*		158		8,515
Vertex Pharmaceuticals, Inc.*		191		8,553
Total Biotechnology				24,721
Building Products 0.5%
Fortune Brands Home & Security, Inc.*		272		8,905
Lennox International, Inc.		157		9,029
Total Building Products				17,934
Capital Markets 2.6%
Affiliated Managers Group, Inc.*		62		8,924
Apollo Investment Corp.		998		8,982
Eaton Vance Corp.		258		9,340
Federated Investors, Inc. - Class B		346		8,186
Greenhill & Co., Inc.		154		9,071
Janus Capital Group, Inc.		967		8,993
Jefferies Group, Inc.		441		8,789
Raymond James Financial, Inc.		213		9,506
SEI Investments Co.		360		9,705
Waddell & Reed Financial, Inc. - Class A		241		9,568
Total Capital Markets				91,064
Chemicals 2.9%
Albemarle Corp.		134		8,216
Ashland, Inc.		105		8,244
Cabot Corp.		207		7,748
Cytec Industries, Inc.		115		8,429
Intrepid Potash, Inc.		373		8,691
Minerals Technologies, Inc.		211		8,729
NewMarket Corp.		30		7,655
Olin Corp.		372		8,653
RPM International, Inc.		277		8,645
Scotts Miracle-Gro Co.(The) - Class A		188		8,219
Sensient Technologies Corp.		225		8,572

	Shares		Value
Valspar Corp.		133	$	8,815
Total Chemicals				100,616
Commercial Banks 5.5%
Associated Banc-Corp.		627		8,947
BancorpSouth, Inc.		584		8,468
Bank of Hawaii Corp.		183		8,800
Cathay General Bancorp		447		8,676
City National Corp.		164		8,685
Commerce Bancshares, Inc.		227		8,524
Cullen/Frost Bankers, Inc.		148		8,716
East West Bancorp, Inc.		381		8,934
First Niagara Financial Group, Inc.		1,045		8,193
FirstMerit Corp.		576		8,773
Fulton Financial Corp.		834		9,082
Hancock Holding Co.		256		7,736
International Bancshares Corp.		452		8,837
Prosperity Bancshares, Inc.		191		8,616
Signature Bank*		116		8,576
SVB Financial Group*		149		9,889
Synovus Financial Corp.(a)		3,341		8,620
TCF Financial Corp.		682		9,316
Trustmark Corp.		360		8,327
Valley National Bancorp		862		8,439
Webster Financial Corp.		390		8,678
Westamerica Bancorp		193		8,573
Total Commercial Banks				191,405
Commercial Services & Supplies 2.8%
Brink’s Co.(The)		282		8,409
Clean Harbors, Inc.*		142		7,894
Copart, Inc.*		264		9,480
Corrections Corp. of America		229		8,677
Deluxe Corp.		268		9,860
Herman Miller, Inc.		383		9,460
HNI Corp.		278		8,776
Mine Safety Appliances Co.		205		9,475
R.R. Donnelley & Sons Co.(a)		878		8,078
Rollins, Inc.		360		8,899
Waste Connections, Inc.		245		8,825
Total Commercial Services & Supplies				97,833
Communications Equipment 1.6%
ADTRAN, Inc.		410		8,282
Ciena Corp.*		508		7,955
InterDigital, Inc.		187		8,114
Plantronics, Inc.		231		9,499
Polycom, Inc.*		764		8,427
Riverbed Technology, Inc.*		450		8,730
Tellabs, Inc.		2,391		5,451
Total Communications Equipment				56,458
Computers & Peripherals 1.0%
Diebold, Inc.		272		8,008
Lexmark International, Inc. - Class A		344		8,277
NCR Corp.*		325		9,025
QLogic Corp.*		901		10,406
Total Computers & Peripherals				35,716
Construction & Engineering 1.2%
Aecom Technology Corp.*		335		8,566
Granite Construction, Inc.		244		8,872
KBR, Inc.		265		8,273
Shaw Group, Inc.(The)*		176		8,328

GUGGENHEIM S&P MIDCAP 400® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
URS Corp.		205	$	8,504
Total Construction & Engineering				42,543
Construction Materials 0.2%
Martin Marietta Materials, Inc.		86		8,491
Total Construction Materials				8,491
Containers & Packaging 1.5%
AptarGroup, Inc.		170		8,760
Greif, Inc. - Class A		181		8,503
Packaging Corp. of America		220		8,455
Rock Tenn Co. - Class A		119		9,395
Silgan Holdings, Inc.		181		7,765
Sonoco Products Co.		273		8,460
Total Containers & Packaging				51,338
Distributors 0.2%
LKQ Corp.*		386		8,643
Total Distributors				8,643
Diversified Consumer Services 1.4%
DeVry, Inc.		319		8,029
Matthews International Corp. - Class A		247		8,092
Regis Corp.		482		8,555
Service Corp. International		557		8,316
Sotheby’s		245		8,800
Strayer Education, Inc.		134		7,625
Total Diversified Consumer Services				49,417
Diversified Financial Services 0.5%
CBOE Holdings, Inc.		267		9,046
MSCI, Inc. - Class A*		265		8,941
Total Diversified Financial Services				17,987
Diversified Telecommunication Services 0.3%
tw telecom, Inc.*		319		8,814
Total Diversified Telecommunication Services				8,814
Electric Utilities 1.9%
Cleco Corp.		201		8,593
Great Plains Energy, Inc.		400		8,560
Hawaiian Electric Industries, Inc.		318		8,576
IDACORP, Inc.		186		8,632
NV Energy, Inc.		441		8,348
OGE Energy Corp.		144		8,454
PNM Resources, Inc.		391		8,352
Westar Energy, Inc.		284		8,540
Total Electric Utilities				68,055
Electrical Equipment 1.3%
Acuity Brands, Inc.		120		8,256
AMETEK, Inc.		214		8,772
General Cable Corp.*		270		9,077
Hubbell, Inc. - Class B		97		8,832
Regal-Beloit Corp.		117		8,677
Total Electrical Equipment				43,614
Electronic Equipment, Instruments & Components 2.0%
Arrow Electronics, Inc.*		212		8,145
Avnet, Inc.*		264		9,335
Ingram Micro, Inc. - Class A*		485		8,817
Itron, Inc.*		180		8,350
National Instruments Corp.		322		9,145
Tech Data Corp.*		179		9,113
Trimble Navigation, Ltd.*		138		8,625

	Shares		Value
Vishay Intertechnology, Inc.*		789	$	8,671
Total Electronic Equipment, Instruments & Components				70,201
Energy Equipment & Services 2.9%
Atwood Oceanics, Inc.*		178		9,393
CARBO Ceramics, Inc.		100		8,011
Dresser-Rand Group, Inc.*		152		9,280
Dril-Quip, Inc.*		113		9,163
Helix Energy Solutions Group, Inc.*		420		9,962
Oceaneering International, Inc.		155		9,797
Oil States International, Inc.*		120		9,310
Patterson-UTI Energy, Inc.		458		9,316
Superior Energy Services, Inc.*		403		10,063
Tidewater, Inc.		180		8,851
Unit Corp.*		180		8,663
Total Energy Equipment & Services				101,809
Food & Staples Retailing 0.8%
Harris Teeter Supermarkets, Inc.		215		8,920
SUPERVALU, Inc.(a)		3,002		11,738
United Natural Foods, Inc.*		150		8,097
Total Food & Staples Retailing				28,755
Food Products 2.0%
Flowers Foods, Inc.		334		8,978
Green Mountain Coffee Roasters, Inc.*		198		9,015
Hillshire Brands Co.		281		8,705
Ingredion, Inc.		124		8,193
Lancaster Colony Corp.		117		8,361
Post Holdings, Inc.*		233		8,851
Smithfield Foods, Inc.*		357		8,322
Tootsie Roll Industries, Inc.(a)		301		8,157
Total Food Products				68,582
Gas Utilities 1.2%
Atmos Energy Corp.		226		8,443
National Fuel Gas Co.		151		8,215
Questar Corp.		408		9,478
UGI Corp.		247		8,704
WGL Holdings, Inc.		204		8,554
Total Gas Utilities				43,394
Health Care Equipment & Supplies 2.2%
Cooper Cos., Inc.(The)		84		8,513
Hill-Rom Holdings, Inc.		275		9,125
Hologic, Inc.*		405		9,655
IDEXX Laboratories, Inc.*		83		7,903
Masimo Corp.		387		7,856
ResMed, Inc.		190		8,322
STERIS Corp.		238		8,980
Teleflex, Inc.		116		8,700
Thoratec Corp.*		212		7,744
Total Health Care Equipment & Supplies				76,798
Health Care Providers & Services 3.1%
Community Health Systems, Inc.		269		10,311
Health Management Associates, Inc. - Class A*		980		10,231
Health Net, Inc.*		321		8,731
Henry Schein, Inc.*		98		8,462
HMS Holdings Corp.*		316		8,614
LifePoint Hospitals, Inc.*		220		9,616
Mednax, Inc.*		102		8,727
Omnicare, Inc.		223		8,686
Owens & Minor, Inc.		285		8,724

2

GUGGENHEIM S&P MIDCAP 400® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Universal Health Services, Inc. - Class B		175	$	9,912
VCA Antech, Inc.*		382		8,251
WellCare Health Plans, Inc.*		170		8,621
Total Health Care Providers & Services				108,886
Health Care Technology 0.2%
Allscripts Healthcare Solutions, Inc.*		741		8,210
Total Health Care Technology				8,210
Hotels, Restaurants & Leisure 2.5%
Bally Technologies, Inc.*		176		8,476
Bob Evans Farms, Inc.		201		8,898
Brinker International, Inc.		253		8,283
Cheesecake Factory, Inc.(The)		241		7,992
International Speedway Corp. - Class A		305		8,360
Life Time Fitness, Inc.*		166		8,421
Panera Bread Co. - Class A*		50		7,991
Scientific Games Corp. - Class A*		957		8,508
Wendy’s Co.(The)		1,695		8,712
WMS Industries, Inc.*		501		12,400
Total Hotels, Restaurants & Leisure				88,041
Household Durables 2.2%
Jarden Corp.*		160		9,414
KB Home(a)		510		9,726
MDC Holdings, Inc.		233		9,162
Mohawk Industries, Inc.*		98		9,963
NVR, Inc.*		9		9,267
Tempur-Pedic International, Inc.*		265		10,324
Toll Brothers, Inc.*		259		9,699
Tupperware Brands Corp.		121		9,220
Total Household Durables				76,775
Household Products 0.5%
Church & Dwight Co., Inc.		150		8,668
Energizer Holdings, Inc.		100		8,701
Total Household Products				17,369
Industrial Conglomerates 0.3%
Carlisle Cos., Inc.		139		8,917
Total Industrial Conglomerates				8,917
Insurance 4.2%
Alleghany Corp.*		24		8,654
American Financial Group, Inc.		203		8,640
Arthur J. Gallagher & Co.		227		8,388
Aspen Insurance Holdings Ltd.		257		8,766
Brown & Brown, Inc.		310		8,475
Everest Re Group Ltd.		75		8,686
Fidelity National Financial, Inc. - Class A		350		8,785
First American Financial Corp.		341		8,147
Hanover Insurance Group, Inc.(The)		213		8,852
HCC Insurance Holdings, Inc.		219		8,471
Kemper Corp.		273		9,094
Mercury General Corp.		193		7,643
Old Republic International Corp.		753		8,584
Protective Life Corp.		288		9,112
Reinsurance Group of America, Inc.		155		8,895
StanCorp Financial Group, Inc.		226		8,789
W.R. Berkley Corp.		205		8,440
Total Insurance				146,421
Internet & Catalog Retail 0.3%
HSN, Inc.		150		8,940
Total Internet & Catalog Retail				8,940

	Shares		Value
Internet Software & Services 1.2%
AOL, Inc.*		262	$	8,030
Equinix, Inc.*		40		8,617
Monster Worldwide, Inc.*		1,403		8,137
Rackspace Hosting, Inc.*		116		8,741
ValueClick, Inc.*		410		8,393
Total Internet Software & Services				41,918
IT Services 3.4%
Acxiom Corp.*		451		7,996
Alliance Data Systems Corp.*		55		8,668
Broadridge Financial Solutions, Inc.		346		8,155
Convergys Corp.		491		8,357
CoreLogic, Inc.*		291		7,636
DST Systems, Inc.		131		8,769
Gartner, Inc.*		172		8,860
Global Payments, Inc.		180		8,867
Jack Henry & Associates, Inc.		208		8,628
Lender Processing Services, Inc.		321		7,717
ManTech International Corp. - Class A		316		7,796
NeuStar, Inc. - Class A*		191		8,622
VeriFone Systems, Inc.*		270		9,374
WEX, Inc.*		111		8,725
Total IT Services				118,170
Leisure Equipment & Products 0.2%
Polaris Industries, Inc.		99		8,622
Total Leisure Equipment & Products				8,622
Life Sciences Tools & Services 1.3%
Bio-Rad Laboratories, Inc. - Class A*		77		8,762
Charles River Laboratories International, Inc.*		218		9,008
Covance, Inc.*		137		9,139
Mettler-Toledo International, Inc.*		42		8,926
Techne Corp.		117		8,387
Total Life Sciences Tools & Services				44,222
Machinery 5.2%
AGCO Corp.*		164		8,692
CLARCOR, Inc.		177		8,931
Crane Co.		181		9,101
Donaldson Co., Inc.		243		9,139
Gardner Denver, Inc.		109		7,670
Graco, Inc.		156		8,923
Harsco Corp.		365		9,304
IDEX Corp.		177		8,831
ITT Corp.		354		9,091
Kennametal, Inc.		204		8,366
Lincoln Electric Holdings, Inc.		167		9,006
Nordson Corp.		131		8,858
Oshkosh Corp.*		281		11,010
SPX Corp.		131		9,777
Terex Corp.*		313		10,135
Timken Co.		176		9,435
Trinity Industries, Inc.		230		9,131
Valmont Industries, Inc.		59		8,598
Wabtec Corp.		92		8,613
Woodward, Inc.		220		8,450
Total Machinery				181,061
Marine 0.5%
Kirby Corp.*		137		9,679
Matson, Inc.		334		9,155
Total Marine				18,834

3

GUGGENHEIM S&P MIDCAP 400® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Media 2.2%
AMC Networks, Inc. - Class A*		158	$	9,001
Cinemark Holdings, Inc.		309		8,695
DreamWorks Animation SKG, Inc. - Class A*		488		8,496
John Wiley & Sons, Inc. - Class A		219		8,388
Lamar Advertising Co. - Class A*		198		8,443
Meredith Corp.		230		8,340
New York Times Co.(The) - Class A*		962		8,523
Scholastic Corp.		277		8,216
Valassis Communications, Inc.		294		8,250
Total Media				76,352
Metals & Mining 1.7%
Carpenter Technology Corp.		160		8,373
Commercial Metals Co.		554		9,224
Compass Minerals International, Inc.		107		7,709
Reliance Steel & Aluminum Co.		135		8,737
Royal Gold, Inc.		99		7,392
Steel Dynamics, Inc.		588		8,944
Worthington Industries, Inc.		336		9,233
Total Metals & Mining				59,612
Multi-Utilities 1.0%
Alliant Energy Corp.		182		8,343
Black Hills Corp.		223		8,998
MDU Resources Group, Inc.		377		8,792
Vectren Corp.		270		8,521
Total Multi-Utilities				34,654
Multiline Retail 0.2%
Saks, Inc.*		749		8,097
Total Multiline Retail				8,097
Office Electronics 0.3%
Zebra Technologies Corp. - Class A*		206		8,916
Total Office Electronics				8,916
Oil, Gas & Consumable Fuels 3.1%
Alpha Natural Resources, Inc.*		825		7,309
Arch Coal, Inc.		1,042		7,419
Bill Barrett Corp.*		430		6,867
Cimarex Energy Co.		142		9,068
Energen Corp.		180		8,665
Forest Oil Corp.*		1,240		8,630
HollyFrontier Corp.		171		8,930
Northern Oil and Gas, Inc.*		492		8,138
Plains Exploration & Production Co.*		173		8,261
Quicksilver Resources, Inc.*		2,465		6,754
Rosetta Resources, Inc.*		187		9,915
SM Energy Co.		168		9,771
World Fuel Services Corp.		202		8,708
Total Oil, Gas & Consumable Fuels				108,435
Paper & Forest Products 0.5%
Domtar Corp.		101		8,406
Louisiana-Pacific Corp.*		455		8,841
Total Paper & Forest Products				17,247
Pharmaceuticals 0.3%
Endo Health Solutions, Inc.*		312		9,878
Total Pharmaceuticals				9,878
Professional Services 1.0%
Corporate Executive Board Co.(The)		172		8,619
FTI Consulting, Inc.*		240		7,800
Manpower, Inc.		193		9,940

	Shares		Value
Towers Watson & Co. - Class A		142	$	8,673
Total Professional Services				35,032
Real Estate Investment Trusts (REITs) 6.9%
Alexandria Real Estate Equities, Inc.		115		8,337
American Campus Communities, Inc.		177		8,243
BioMed Realty Trust, Inc.		420		8,547
BRE Properties, Inc.		165		8,395
Camden Property Trust		120		8,327
Corporate Office Properties Trust		324		8,573
Duke Realty Corp.		594		9,154
Equity One, Inc.		383		8,660
Essex Property Trust, Inc.		56		8,612
Extra Space Storage, Inc.		203		8,088
Federal Realty Investment Trust		77		8,150
Highwoods Properties, Inc.		246		8,856
Home Properties, Inc.		134		8,237
Hospitality Properties Trust		354		8,928
Liberty Property Trust		230		9,009
Macerich Co.(The)		138		8,241
Mack-Cali Realty Corp.		313		8,504
National Retail Properties, Inc.		261		8,357
Omega Healthcare Investors, Inc.		351		8,972
Potlatch Corp.		209		9,068
Rayonier, Inc.		162		8,722
Realty Income Corp.		198		8,649
Regency Centers Corp.		173		8,621
Senior Housing Properties Trust		349		8,407
SL Green Realty Corp.		105		8,440
Taubman Centers, Inc.		105		8,557
UDR, Inc.		353		8,433
Weingarten Realty Investors		300		8,652
Total Real Estate Investment Trusts (REITs)				239,739
Real Estate Management & Development 0.5%
Alexander & Baldwin, Inc.*		281		9,442
Jones Lang LaSalle, Inc.		97		8,937
Total Real Estate Management & Development				18,379
Road & Rail 1.6%
Con-way, Inc.		284		8,912
Genesee & Wyoming, Inc. - Class A*		109		9,219
JB Hunt Transport Services, Inc.		140		9,418
Kansas City Southern		98		9,125
Landstar System, Inc.		162		9,241
Werner Enterprises, Inc.		383		9,046
Total Road & Rail				54,961
Semiconductors & Semiconductor Equipment 3.1%
Atmel Corp.*		1,403		9,400
Cree, Inc.*		235		10,140
Cypress Semiconductor Corp.*		743		7,631
Fairchild Semiconductor International, Inc.*		571		8,434
Integrated Device Technology, Inc.*		1,174		8,488
International Rectifier Corp.*		463		9,024
Intersil Corp. - Class A		987		8,537
MEMC Electronic Materials, Inc.*		2,480		10,317
RF Micro Devices, Inc.*		1,721		8,605
Semtech Corp.*		285		8,596
Silicon Laboratories, Inc.*		188		8,204
Skyworks Solutions, Inc.*		403		9,648
Total Semiconductors & Semiconductor Equipment				107,024
Software 4.2%
ACI Worldwide, Inc.*		187		8,890

4

GUGGENHEIM S&P MIDCAP 400® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (concluded)	January 31, 2013

	Shares		Value
Advent Software, Inc.*		363	$	8,948
ANSYS, Inc.*		119		8,758
Cadence Design Systems, Inc.*		606		8,442
Compuware Corp.*		838		9,738
Concur Technologies, Inc.*		122		8,162
Factset Research Systems, Inc.		85		7,864
Fair Isaac Corp.		192		8,653
Informatica Corp.*		272		10,067
Mentor Graphics Corp.*		499		8,548
MICROS Systems, Inc.*		201		9,252
PTC, Inc.*		361		8,368
Rovi Corp.*		512		8,852
Solarwinds, Inc.*		147		8,000
Solera Holdings, Inc.		151		8,276
Synopsys, Inc.*		251		8,393
TIBCO Software, Inc.*		388		9,095
Total Software				148,306
Specialty Retail 4.1%
Aaron’s, Inc.		290		8,599
Advance Auto Parts, Inc.		110		8,087
Aeropostale, Inc.*		597		8,077
American Eagle Outfitters, Inc.		388		7,842
ANN, Inc.*		244		7,525
Ascena Retail Group, Inc.*		433		7,339
Barnes & Noble, Inc.*		506		6,750
Cabela’s, Inc.*		182		9,395
Chico’s FAS, Inc.		445		7,979
Dick’s Sporting Goods, Inc.		177		8,423
Foot Locker, Inc.		246		8,450
Guess?, Inc.		327		8,859
Office Depot, Inc.*		2,335		10,111
Rent-A-Center, Inc.		227		8,099
Signet Jewelers Ltd.		147		9,199
Tractor Supply Co.		94		9,745
Williams-Sonoma, Inc.		185		8,140
Total Specialty Retail				142,619
Textiles, Apparel & Luxury Goods 1.5%
Carter’s, Inc.*		155		9,336
Deckers Outdoor Corp.*(a)		214		8,549
Hanesbrands, Inc.*		225		8,433
PVH Corp.		74		8,796
Under Armour, Inc. - Class A*		166		8,444
Warnaco Group, Inc.(The)*		113		8,273
Total Textiles, Apparel & Luxury Goods				51,831
Thrifts & Mortgage Finance 0.7%
Astoria Financial Corp.		851		8,289
New York Community Bancorp, Inc.		626		8,357
Washington Federal, Inc.		506		8,900
Total Thrifts & Mortgage Finance				25,546
Tobacco 0.3%
Universal Corp.		161		8,755
Total Tobacco				8,755
Trading Companies & Distributors 1.0%
GATX Corp.		189		8,949
MSC Industrial Direct Co., Inc. - Class A		112		8,861
United Rentals, Inc.*		189		9,567
Watsco, Inc.		110		8,289
Total Trading Companies & Distributors				35,666

	Shares		Value
Water Utilities 0.3%
Aqua America, Inc.		325	$	8,850
Total Water Utilities				8,850
Wireless Telecommunication Services 0.3%
Telephone & Data Systems, Inc.		361		9,130
Total Wireless Telecommunication Services				9,130
Total Common Stocks (Cost $3,106,038)				3,483,464
SHORT TERM INVESTMENTS 0.5%
SSgA Government Money Market Fund		17,459		17,459
Total Short Term Investments (Cost $17,459)				17,459
	Face
	Amount
SECURITIES LENDING COLLATERAL 0.6%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	6,607		6,607
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		6,607		6,607
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		9,406		9,406
Total Securities Lending Collateral (Cost $22,620)				22,620
Total Investments 100.9%(d) (Cost $3,146,117)				3,523,543
Other Assets and Liabilities, net – (0.9)%				(29,991	)
Net Assets – 100.0%			$	3,493,552

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

5

GUGGENHEIM S&P SMALLCAP 600® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 99.8%
Aerospace & Defense 1.8%
AAR Corp.		334	$	6,296
Aerovironment, Inc.*		239		5,174
American Science & Engineering, Inc.		82		5,542
Cubic Corp.		108		5,076
Curtiss-Wright Corp.		170		6,061
Engility Holdings, Inc.*		279		5,371
GenCorp, Inc.*		608		6,524
Moog, Inc. - Class A*		140		6,132
National Presto Industries, Inc.		74		5,428
Orbital Sciences Corp.*		415		6,100
Teledyne Technologies, Inc.*		86		5,870
Total Aerospace & Defense				63,574
Air Freight & Logistics 0.3%
Forward Air Corp.		162		6,012
Hub Group, Inc. - Class A*		168		6,184
Total Air Freight & Logistics				12,196
Airlines 0.3%
Allegiant Travel Co.		72		5,362
SkyWest, Inc.		446		5,637
Total Airlines				10,999
Auto Components 0.9%
Dorman Products, Inc.		161		5,575
Drew Industries, Inc.		172		6,299
Spartan Motors, Inc.		1,129		6,402
Standard Motor Products, Inc.		258		5,988
Superior Industries International, Inc.		282		5,716
Total Auto Components				29,980
Automobiles 0.2%
Winnebago Industries, Inc.*		381		7,132
Total Automobiles				7,132
Beverages 0.2%
Boston Beer Co., Inc. - Class A*		40		5,614
Total Beverages				5,614
Biotechnology 1.0%
Acorda Therapeutics, Inc.*		211		6,093
ArQule, Inc.*		1,889		4,779
Cubist Pharmaceuticals, Inc.*		125		5,380
Emergent Biosolutions, Inc.*		354		5,682
Momenta Pharmaceuticals, Inc.*		467		5,889
Spectrum Pharmaceuticals, Inc.(a)		482		6,078
Total Biotechnology				33,901
Building Products 1.5%
AAON, Inc.		260		5,912
AO Smith Corp.		87		6,027
Apogee Enterprises, Inc.		236		5,770
Gibraltar Industries, Inc.*		361		6,271
Griffon Corp.		503		5,936
NCI Building Systems, Inc.*		381		5,898
Quanex Building Products Corp.		256		5,289
Simpson Manufacturing Co., Inc.		166		5,382
Universal Forest Products, Inc.		148		6,016
Total Building Products				52,501
Capital Markets 1.6%
Calamos Asset Management, Inc. - Class A		545		5,679

	Shares		Value
Financial Engines, Inc.*		197	$	6,552
HFF, Inc. - Class A		388		6,767
Investment Technology Group, Inc.*		570		5,768
Piper Jaffray Cos.*		178		6,894
Prospect Capital Corp.		497		5,606
Stifel Financial Corp.*		174		6,412
SWS Group, Inc.*		1,037		6,834
Virtus Investment Partners, Inc.*		46		6,854
Total Capital Markets				57,366
Chemicals 2.8%
A. Schulman, Inc.		191		6,141
American Vanguard Corp.		187		6,339
Balchem Corp.		149		5,573
Calgon Carbon Corp.*		380		6,095
H.B. Fuller Co.		162		6,331
Hawkins, Inc.		134		5,229
Innophos Holdings, Inc.		116		5,866
Koppers Holdings, Inc.		144		5,841
Kraton Performance Polymers, Inc.*		230		6,037
LSB Industries, Inc.*		162		6,707
OM Group, Inc.*		256		7,071
PolyOne Corp.		266		5,809
Quaker Chemical Corp.		106		6,060
Stepan Co.		106		6,218
Tredegar Corp.		274		6,250
Zep, Inc.		412		6,015
Total Chemicals				97,582
Commercial Banks 6.0%
Bank of the Ozarks, Inc.		164		5,956
Banner Corp.		175		5,285
BBCN Bancorp, Inc.		462		5,586
Boston Private Financial Holdings, Inc.		611		5,652
City Holding Co.		158		5,971
Columbia Banking System, Inc.		312		6,302
Community Bank System, Inc.		202		5,737
CVB Financial Corp.		539		5,929
First BanCorp*		1,291		6,623
First Commonwealth Financial Corp.		811		5,734
First Financial Bancorp		382		5,841
First Financial Bankshares, Inc.		134		5,502
First Midwest Bancorp, Inc.		431		5,461
FNB Corp.		505		5,853
Glacier Bancorp, Inc.		369		5,749
Hanmi Financial Corp.*		419		6,893
Home BancShares, Inc.		166		5,763
Independent Bank Corp.		186		5,764
National Penn Bancshares, Inc.		577		5,626
NBT Bancorp, Inc.		270		5,600
Old National Bancorp		456		6,092
PacWest Bancorp		218		5,991
Pinnacle Financial Partners, Inc.*		288		6,183
PrivateBancorp, Inc.		359		6,164
S&T Bancorp, Inc.		298		5,495
Simmons First National Corp. - Class A		220		5,617
Sterling Bancorp		593		5,687
Susquehanna Bancshares, Inc.		527		6,018
Texas Capital Bancshares, Inc.*		120		4,968
Tompkins Financial Corp.		138		5,646
UMB Financial Corp.		124		5,489
Umpqua Holdings Corp.		457		5,776
United Bankshares, Inc.		216		5,506
United Community Banks, Inc.*		607		6,367
Wilshire Bancorp, Inc.*		944		5,796

GUGGENHEIM S&P SMALLCAP 600® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Wintrust Financial Corp.		148	$	5,486
Total Commercial Banks				209,108
Commercial Services & Supplies 2.0%
ABM Industries, Inc.		262		5,743
Consolidated Graphics, Inc.*		154		5,641
G&K Services, Inc. - Class A		156		6,246
Geo Group, Inc.(The)		201		6,557
Healthcare Services Group, Inc.		229		5,530
Interface, Inc.		361		6,058
Mobile Mini, Inc.*		245		5,880
SYKES Enterprises, Inc.*		372		5,989
Tetra Tech, Inc.*		206		5,904
UniFirst Corp.		74		6,049
United Stationers, Inc.		174		5,801
Viad Corp.		200		5,584
Total Commercial Services & Supplies				70,982
Communications Equipment 2.1%
Arris Group, Inc.*		375		6,195
Bel Fuse, Inc. - Class B		300		5,589
Black Box Corp.		215		5,037
Comtech Telecommunications Corp.		209		5,539
Digi International, Inc.*		554		5,429
Harmonic, Inc.*		1,101		5,758
Ixia*		349		6,628
Netgear, Inc.*		146		5,126
Oplink Communications, Inc.*		356		5,999
PC-Tel, Inc.		797		5,914
Procera Networks, Inc.*		290		4,881
Symmetricom, Inc.*		898		4,840
Viasat, Inc.*		140		5,377
Total Communications Equipment				72,312
Computers & Peripherals 1.2%
3D Systems Corp.*		116		6,711
Avid Technology, Inc.*		715		5,291
Electronics for Imaging, Inc.*		292		6,605
Intermec, Inc.*		539		5,325
Intevac, Inc.*		1,129		4,753
Super Micro Computer, Inc.*		582		7,205
Synaptics, Inc.*		200		7,016
Total Computers & Peripherals				42,906
Construction & Engineering 0.8%
Aegion Corp.*		252		5,927
Comfort Systems USA, Inc.		467		6,029
Dycom Industries, Inc.*		284		5,958
EMCOR Group, Inc.		159		5,777
Orion Marine Group, Inc.*		725		5,655
Total Construction & Engineering				29,346
Construction Materials 0.6%
Eagle Materials, Inc.		96		6,218
Headwaters, Inc.*		727		6,805
Texas Industries, Inc.*		112		6,366
Total Construction Materials				19,389
Consumer Finance 1.0%
Cash America International, Inc.		138		6,612
Encore Capital Group, Inc.*		184		5,536
EZCORP, Inc. - Class A*		285		6,327
First Cash Financial Services, Inc.*		110		5,864
Portfolio Recovery Associates, Inc.*		54		5,775
World Acceptance Corp.*		74		5,739
Total Consumer Finance				35,853

	Shares		Value
Containers & Packaging 0.2%
Myers Industries, Inc.		373	$	5,513
Total Containers & Packaging				5,513
Distributors 0.4%
Pool Corp.		132		6,048
VOXX International Corp.*		827		7,989
Total Distributors				14,037
Diversified Consumer Services 1.5%
American Public Education, Inc.*		149		5,741
Capella Education Co.*		184		5,027
Career Education Corp.*		1,548		5,356
Coinstar, Inc.*		103		5,241
Corinthian Colleges, Inc.*		2,157		5,306
Hillenbrand, Inc.		246		6,089
ITT Educational Services, Inc.*		344		5,793
Lincoln Educational Services Corp.		1,206		6,681
Universal Technical Institute, Inc.		545		6,158
Total Diversified Consumer Services				51,392
Diversified Financial Services 0.3%
Interactive Brokers Group, Inc. - Class A		360		5,148
MarketAxess Holdings, Inc.		160		6,050
Total Diversified Financial Services				11,198
Diversified Telecommunication Services 0.8%
Atlantic Tele-Network, Inc.		148		6,405
Cbeyond, Inc.*		656		5,773
Cincinnati Bell, Inc.*		1,031		4,897
General Communication, Inc. - Class A*		617		5,251
Lumos Networks Corp.		569		5,525
Total Diversified Telecommunication Services				27,851
Electric Utilities 0.7%
Allete, Inc.		132		6,090
El Paso Electric Co.		169		5,694
UIL Holdings Corp.		148		5,507
UNS Energy Corp.		128		5,797
Total Electric Utilities				23,088
Electrical Equipment 1.5%
AZZ, Inc.		148		6,333
Belden, Inc.		126		6,067
Brady Corp. - Class A		166		5,792
Encore Wire Corp.		170		5,545
EnerSys*		150		6,139
Franklin Electric Co., Inc.		90		5,987
II-VI, Inc.*		309		5,259
Powell Industries, Inc.*		134		6,064
Vicor Corp.*		1,001		5,385
Total Electrical Equipment				52,571
Electronic Equipment, Instruments & Components 4.8%
Agilysys, Inc.*		643		5,472
Anixter International, Inc.		87		5,853
Badger Meter, Inc.		116		5,741
Benchmark Electronics, Inc.*		340		5,970
Checkpoint Systems, Inc.*		519		6,259
Cognex Corp.		151		5,989
Coherent, Inc.		114		6,317
CTS Corp.		565		5,622
Daktronics, Inc.		534		6,333
DTS, Inc.*		329		6,284
Electro Scientific Industries, Inc.		561		6,059
FARO Technologies, Inc.*		157		5,214
FEI Co.		100		6,096

2

GUGGENHEIM S&P SMALLCAP 600® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Insight Enterprises, Inc.*		303	$	5,939
Littelfuse, Inc.		90		5,761
Measurement Specialties, Inc.*		172		6,071
Mercury Systems, Inc.*		645		4,741
Methode Electronics, Inc.		601		5,782
MTS Systems Corp.		108		6,140
Newport Corp.*		424		6,114
OSI Systems, Inc.*		88		4,792
Park Electrochemical Corp.		219		5,725
Plexus Corp.*		226		5,767
Radisys Corp.*		1,849		7,211
Rofin-Sinar Technologies, Inc.*		263		6,741
Rogers Corp.*		116		5,436
Scansource, Inc.*		180		5,231
SYNNEX Corp.*		160		5,752
TTM Technologies, Inc.*		584		4,654
Total Electronic Equipment, Instruments & Components				169,066
Energy Equipment & Services 2.2%
Basic Energy Services, Inc.*(a)		517		6,685
Bristow Group, Inc.		103		5,869
ERA Group, Inc.*		211		4,302
Exterran Holdings, Inc.*		250		5,810
Geospace Technologies Corp.*		68		6,131
Gulf Island Fabrication, Inc.		229		5,317
Hornbeck Offshore Services, Inc.*		150		5,522
ION Geophysical Corp.*		891		6,059
Lufkin Industries, Inc.		96		5,559
Matrix Service Co.*		465		6,640
Pioneer Energy Services Corp.*		783		5,935
SEACOR Holdings, Inc.		64		5,822
Tetra Technologies, Inc.*		737		6,265
Total Energy Equipment & Services				75,916
Food & Staples Retailing 0.6%
Andersons, Inc.(The)		124		5,847
Casey’s General Stores, Inc.		107		5,856
Nash Finch Co.		254		5,275
Spartan Stores, Inc.		340		5,522
Total Food & Staples Retailing				22,500
Food Products 1.7%
B&G Foods, Inc.		181		5,738
Cal-Maine Foods, Inc.		120		5,002
Calavo Growers, Inc.		223		5,555
Darling International, Inc.*		320		5,398
Diamond Foods, Inc.		384		5,483
Hain Celestial Group, Inc.(The)*		94		5,357
J&J Snack Foods Corp.		86		5,861
Sanderson Farms, Inc.		106		5,351
Seneca Foods Corp. - Class A*		166		4,982
Snyders-Lance, Inc.		222		5,645
TreeHouse Foods, Inc.*		105		5,558
Total Food Products				59,930
Gas Utilities 0.9%
Laclede Group, Inc.(The)		133		5,309
New Jersey Resources Corp.		134		5,632
Northwest Natural Gas Co.		121		5,496
Piedmont Natural Gas Co., Inc.		169		5,367
South Jersey Industries, Inc.		106		5,754
Southwest Gas Corp.		127		5,657
Total Gas Utilities				33,215

	Shares		Value
Health Care Equipment & Supplies 3.6%
Abaxis, Inc.		144	$	5,576
ABIOMED, Inc.*		411		5,733
Align Technology, Inc.*		202		6,335
Analogic Corp.		76		5,790
Cantel Medical Corp.		185		5,811
CONMED Corp.		196		5,757
CryoLife, Inc.		873		5,605
Cyberonics, Inc.*		104		4,509
Greatbatch, Inc.*		243		6,449
Haemonetics Corp.*		133		5,578
ICU Medical, Inc.*		88		5,320
Integra LifeSciences Holdings Corp.*		138		5,817
Invacare Corp.		344		5,411
Meridian Bioscience, Inc.		268		5,615
Merit Medical Systems, Inc.*		400		5,548
Natus Medical, Inc.*		489		6,024
Neogen Corp.*		114		5,300
NuVasive, Inc.*		362		6,237
Palomar Medical Technologies, Inc.*		599		5,852
SurModics, Inc.*		255		6,148
Symmetry Medical, Inc.*		557		5,965
West Pharmaceutical Services, Inc.		96		5,684
Total Health Care Equipment & Supplies				126,064
Health Care Providers & Services 3.7%
Air Methods Corp.		144		6,296
Almost Family, Inc.		247		4,945
Amedisys, Inc.*		479		5,327
AMN Healthcare Services, Inc.*		472		5,735
Amsurg Corp.*		182		5,680
Bio-Reference Labs, Inc.*		183		5,082
Centene Corp.*		130		5,611
Chemed Corp.		78		5,893
CorVel Corp.*		126		5,771
Cross Country Healthcare, Inc.*		1,096		6,192
Ensign Group, Inc.(The)		198		5,655
Gentiva Health Services, Inc.*		537		5,322
Hanger, Inc.*		202		5,803
Healthways, Inc.*		506		5,323
IPC The Hospitalist Co., Inc.*		138		5,884
Kindred Healthcare, Inc.*		495		5,336
Landauer, Inc.		94		5,921
LHC Group, Inc.*		256		5,468
Magellan Health Services, Inc.*		104		5,335
Molina Healthcare, Inc.*		186		5,340
MWI Veterinary Supply, Inc.*		48		5,391
PharMerica Corp.*		363		5,256
PSS World Medical, Inc.*		187		5,410
Total Health Care Providers & Services				127,976
Health Care Technology 0.8%
Computer Programs & Systems, Inc.		104		5,471
HealthStream, Inc.*		228		5,650
Medidata Solutions, Inc.*		142		6,644
Omnicell, Inc.*		335		5,293
Quality Systems, Inc.		306		5,582
Total Health Care Technology				28,640
Hotels, Restaurants & Leisure 3.5%
Biglari Holdings, Inc.*		16		5,902
BJ’s Restaurants, Inc.*		161		5,147
Boyd Gaming Corp.*(a)		901		6,316
Buffalo Wild Wings, Inc.*		72		5,296
CEC Entertainment, Inc.		168		5,537
Cracker Barrel Old Country Store, Inc.		84		5,445

3

GUGGENHEIM S&P SMALLCAP 600® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
DineEquity, Inc.*		86	$	6,300
Interval Leisure Group, Inc.		273		5,405
Jack in the Box, Inc.*		187		5,429
Marcus Corp.		453		6,025
Marriott Vacations Worldwide Corp.*		134		5,947
Monarch Casino & Resort, Inc.*		580		6,009
Multimedia Games Holding Co., Inc.*		380		6,437
Papa John’s International, Inc.*		100		5,610
Pinnacle Entertainment, Inc.*		409		6,360
Red Robin Gourmet Burgers, Inc.*		158		5,841
Ruby Tuesday, Inc.*		665		5,007
Ruth’s Hospitality Group, Inc*		722		5,603
SHFL Entertainment, Inc.*		406		6,009
Sonic Corp.*		510		5,692
Texas Roadhouse, Inc.		318		5,594
Total Hotels, Restaurants & Leisure				120,911
Household Durables 1.9%
American Greetings Corp. - Class A		308		4,928
Blyth, Inc.		301		4,217
Ethan Allen Interiors, Inc.		220		6,360
Helen of Troy Ltd.*		161		5,828
iRobot Corp.*		286		6,544
La-Z-Boy, Inc.		397		6,209
M/I Homes, Inc.*		230		6,265
Meritage Homes Corp.*		141		6,238
Ryland Group, Inc.(The)		158		6,276
Standard Pacific Corp.*(a)		811		6,731
Universal Electronics, Inc.*		311		5,940
Total Household Durables				65,536
Household Products 0.3%
Central Garden & Pet Co. - Class A*		552		5,310
WD-40 Co.		114		6,090
Total Household Products				11,400
Industrial Conglomerates 0.2%
Standex International Corp.		110		6,231
Total Industrial Conglomerates				6,231
Insurance 2.5%
AMERISAFE, Inc.*		209		5,986
eHealth, Inc.*		200		4,874
Employers Holdings, Inc.		272		5,796
Horace Mann Educators Corp.		275		5,978
Infinity Property & Casualty Corp.		98		5,828
Meadowbrook Insurance Group, Inc.		1,003		6,289
National Financial Partners Corp.*		322		5,670
Navigators Group, Inc.(The)*		104		5,640
ProAssurance Corp.		124		5,585
RLI Corp.		84		5,797
Safety Insurance Group, Inc.		117		5,617
Selective Insurance Group, Inc.		284		5,825
Stewart Information Services Corp.		198		5,259
Tower Group, Inc.		297		5,732
United Fire Group, Inc.		246		5,705
Total Insurance				85,581
Internet & Catalog Retail 0.5%
Blue Nile, Inc.*		140		4,688
Nutrisystem, Inc.		669		6,041
PetMed Express, Inc.		470		6,129
Total Internet & Catalog Retail				16,858
Internet Software & Services 2.6%
Blucora, Inc.*		362		5,379

	Shares		Value
comScore, Inc.*		402	$	5,921
Dealertrack Holdings, Inc.*		194		6,126
Dice Holdings, Inc.*		625		5,881
Digital River, Inc.*		371		5,387
j2 Global, Inc.		173		5,505
Liquidity Services, Inc.*		133		4,239
LivePerson, Inc.*		434		5,803
LogMeIn, Inc.*		258		5,857
NIC, Inc.		347		5,656
OpenTable, Inc.*		111		5,849
Perficient, Inc.*		471		5,633
QuinStreet, Inc.*		853		4,811
Stamps.com, Inc.*		209		5,641
United Online, Inc.		943		6,261
XO Group, Inc.*		640		6,157
Total Internet Software & Services				90,106
IT Services 2.0%
CACI International, Inc. - Class A*		98		5,256
Cardtronics, Inc.*		238		6,162
CIBER, Inc.*		1,740		5,881
CSG Systems International, Inc.*		297		5,592
ExlService Holdings, Inc.*		199		5,902
Forrester Research, Inc.		199		5,626
Heartland Payment Systems, Inc.		186		5,907
Higher One Holdings, Inc.*(a)		535		5,634
iGate Corp.*		335		5,856
MAXIMUS, Inc.		84		5,760
TeleTech Holdings, Inc.*		303		5,666
Virtusa Corp.*		349		7,228
Total IT Services				70,470
Leisure Equipment & Products 0.8%
Arctic Cat, Inc.*		142		5,132
Brunswick Corp.		203		7,341
Callaway Golf Co.		807		5,294
Jakks Pacific, Inc.		436		5,694
Sturm Ruger & Co., Inc.		116		5,889
Total Leisure Equipment & Products				29,350
Life Sciences Tools & Services 0.8%
Affymetrix, Inc.*		1,638		6,208
Cambrex Corp.*		466		5,476
Enzo Biochem, Inc.*		2,018		5,832
Luminex Corp.*		330		6,065
PAREXEL International Corp.*		168		5,687
Total Life Sciences Tools & Services				29,268
Machinery 3.1%
Actuant Corp. - Class A		185		5,454
Albany International Corp. - Class A		245		6,140
Astec Industries, Inc.		173		6,110
Barnes Group, Inc.		251		5,999
Briggs & Stratton Corp.		258		6,122
CIRCOR International, Inc.		142		5,893
EnPro Industries, Inc.*		134		5,960
ESCO Technologies, Inc.		150		6,176
Federal Signal Corp.*		781		6,279
John Bean Technologies Corp.		318		5,943
Kaydon Corp.		231		5,729
Lindsay Corp.		70		6,513
Lydall, Inc.*		381		5,822
Mueller Industries, Inc.		112		5,976
Robbins & Myers, Inc.		90		5,245
Tennant Co.		128		5,893
Toro Co.(The)		125		5,504

4

GUGGENHEIM S&P SMALLCAP 600® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Watts Water Technologies, Inc. - Class A		129	$	5,947
Total Machinery				106,705
Media 0.9%
Arbitron, Inc.		142		6,660
Digital Generation, Inc.*		474		4,745
E.W. Scripps Co. - Class A*		508		5,583
Harte-Hanks, Inc.		956		7,830
Live Nation Entertainment, Inc.*		587		6,022
Total Media				30,840
Metals & Mining 1.9%
A.M. Castle & Co.*		383		6,454
AK Steel Holding Corp.		1,206		4,824
AMCOL International Corp.		174		5,138
Century Aluminum Co.*		627		5,398
Globe Specialty Metals, Inc.		347		5,261
Haynes International, Inc.		106		5,419
Kaiser Aluminum Corp.		88		5,470
Materion Corp.		240		6,456
Olympic Steel, Inc.		268		5,631
RTI International Metals, Inc.*		208		5,907
Stillwater Mining Co.*		442		5,949
SunCoke Energy, Inc.*		343		5,687
Total Metals & Mining				67,594
Multi-Utilities 0.5%
Avista Corp.		223		5,767
CH Energy Group, Inc.		82		5,330
NorthWestern Corp.		154		5,696
Total Multi-Utilities				16,793
Multiline Retail 0.4%
Fred’s, Inc. - Class A		410		5,420
Tuesday Morning Corp.*		915		7,686
Total Multiline Retail				13,106
Oil, Gas & Consumable Fuels 1.7%
Approach Resources, Inc.*		213		5,664
Carrizo Oil & Gas, Inc.*		262		5,628
Cloud Peak Energy, Inc.*		269		4,710
Comstock Resources, Inc.*		346		5,048
Contango Oil & Gas Co.		132		5,667
Gulfport Energy Corp.*		137		5,654
PDC Energy, Inc.*		164		6,073
Penn Virginia Corp.		1,198		5,139
Petroquest Energy, Inc.*		1,017		5,227
Stone Energy Corp.*		266		5,985
Swift Energy Co.*		343		5,169
Total Oil, Gas & Consumable Fuels				59,964
Paper & Forest Products 1.4%
Buckeye Technologies, Inc.		190		5,463
Clearwater Paper Corp.*		136		6,162
Deltic Timber Corp.		78		5,660
KapStone Paper and Packaging Corp.		266		6,384
Neenah Paper, Inc.		194		6,002
PH Glatfelter Co.		318		5,908
Schweitzer-Mauduit International, Inc.		142		5,785
Wausau Paper Corp.		633		6,121
Total Paper & Forest Products				47,485
Personal Products 0.5%
Inter Parfums, Inc.		265		5,753
Medifast, Inc.*		174		4,268

	Shares		Value
Prestige Brands Holdings, Inc.*		274	$	5,878
Total Personal Products				15,899
Pharmaceuticals 1.0%
Akorn, Inc.*		416		5,445
Hi-Tech Pharmacal Co., Inc.		150		5,490
Medicines Co.(The)*		243		7,261
Questcor Pharmaceuticals, Inc.		192		4,892
Salix Pharmaceuticals Ltd.*		128		6,131
ViroPharma, Inc.*		222		5,919
Total Pharmaceuticals				35,138
Professional Services 1.8%
CDI Corp.		324		5,514
Dolan Co.(The)*		1,474		5,174
Exponent, Inc.*		100		4,889
Heidrick & Struggles International, Inc.		389		6,150
Insperity, Inc.		170		5,717
Kelly Services, Inc. - Class A		355		5,659
Korn/Ferry International*		350		6,013
Navigant Consulting, Inc.*		491		5,661
On Assignment, Inc.*		278		6,797
Resources Connection, Inc.		448		5,470
TrueBlue, Inc.*		372		6,395
Total Professional Services				63,439
Real Estate Investment Trusts (REITs) 4.8%
Acadia Realty Trust		212		5,542
Cedar Realty Trust, Inc.		992		5,466
Colonial Properties Trust		259		5,675
Cousins Properties, Inc.		656		5,838
DiamondRock Hospitality Co.		601		5,481
EastGroup Properties, Inc.		102		5,716
EPR Properties		116		5,436
Franklin Street Properties Corp.		444		5,772
Getty Realty Corp.		303		5,721
Government Properties Income Trust		231		5,740
Healthcare Realty Trust, Inc.		228		5,809
Inland Real Estate Corp.		649		5,893
Kilroy Realty Corp.		115		5,739
Kite Realty Group Trust		1,035		6,262
LaSalle Hotel Properties		220		6,006
Lexington Realty Trust		541		5,951
LTC Properties, Inc.		162		6,033
Medical Properties Trust, Inc.		462		6,214
Mid-America Apartment Communities, Inc.		84		5,491
Parkway Properties, Inc.		395		6,257
Pennsylvania Real Estate Investment Trust		311		5,735
Post Properties, Inc.		110		5,336
PS Business Parks, Inc.		84		5,994
Sabra Health Care REIT, Inc.		250		6,273
Saul Centers, Inc.		128		5,472
Sovran Self Storage, Inc.		88		5,741
Tanger Factory Outlet Centers, Inc.		160		5,667
Universal Health Realty Income Trust		111		6,119
Urstadt Biddle Properties, Inc. - Class A		285		5,768
Total Real Estate Investment Trusts (REITs)				168,147
Real Estate Management & Development 0.2%
Forestar Group, Inc.*		336		6,394
Total Real Estate Management & Development				6,394
Road & Rail 0.7%
Arkansas Best Corp.		585		6,154

5

GUGGENHEIM S&P SMALLCAP 600® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Heartland Express, Inc.		422	$	5,837
Knight Transportation, Inc.		375		5,981
Old Dominion Freight Line, Inc.*		161		6,002
Total Road & Rail				23,974
Semiconductors & Semiconductor Equipment 5.4%
Advanced Energy Industries, Inc.*		410		6,294
ATMI, Inc.*		269		5,490
Brooks Automation, Inc.		677		6,337
Cabot Microelectronics Corp.		156		5,766
CEVA, Inc.*		355		5,389
Cirrus Logic, Inc.*		208		5,872
Cohu, Inc.		548		5,743
Cymer, Inc.*		60		6,178
Diodes, Inc.*		327		6,220
DSP Group, Inc.*		918		6,022
Entropic Communications, Inc.*		1,019		5,340
Exar Corp.*		621		6,514
GT Advanced Technologies, Inc.*(a)		1,524		4,816
Hittite Microwave Corp.*		87		5,340
Kopin Corp.*		1,684		5,827
Kulicke & Soffa Industries, Inc.*		461		5,219
Micrel, Inc.		569		5,923
Microsemi Corp.*		262		5,481
MKS Instruments, Inc.		214		5,949
Monolithic Power Systems, Inc.		244		5,685
Nanometrics, Inc.*		366		5,713
Pericom Semiconductor Corp.*		661		4,673
Power Integrations, Inc.		161		6,021
Rubicon Technology, Inc.*		827		5,557
Rudolph Technologies, Inc.*		432		5,828
Sigma Designs, Inc.*		967		5,164
STR Holdings, Inc.*		1,995		4,249
Supertex, Inc.		302		5,774
Tessera Technologies, Inc.		335		5,879
TriQuint Semiconductor, Inc.*		1,134		5,954
Ultratech, Inc.*		154		6,272
Veeco Instruments, Inc.*		180		5,661
Volterra Semiconductor Corp.*		316		5,195
Total Semiconductors & Semiconductor Equipment				187,345
Software 2.8%
Blackbaud, Inc.		247		6,155
Bottomline Technologies, Inc.*		207		6,019
CommVault Systems, Inc.*		78		5,985
Ebix, Inc.		336		5,490
EPIQ Systems, Inc.		423		5,220
Interactive Intelligence Group, Inc.*		177		7,119
Manhattan Associates, Inc.*		94		6,440
MicroStrategy, Inc. - Class A*		58		5,816
Monotype Imaging Holdings, Inc.		346		6,256
Netscout Systems, Inc.*		218		5,674
Progress Software Corp.*		260		6,102
Sourcefire, Inc.*		117		4,984
Synchronoss Technologies, Inc.*		265		6,310
Take-Two Interactive Software, Inc.*		405		4,929
Tyler Technologies, Inc.*		112		6,054
VASCO Data Security International, Inc.*		653		5,289
Websense, Inc.*		365		5,340
Total Software				99,182
Specialty Retail 5.0%
Big 5 Sporting Goods Corp.		406		5,631
Brown Shoe Co., Inc.		289		4,982
Buckle, Inc.(The)		124		5,801
Cato Corp.(The) - Class A		203		5,597

	Shares		Value
Children’s Place Retail Stores, Inc.(The)*		118	$	5,881
Christopher & Banks Corp.*		1,081		6,702
Coldwater Creek, Inc.*		1,043		3,953
Finish Line, Inc.(The) - Class A		296		5,517
Genesco, Inc.*		103		6,420
Group 1 Automotive, Inc.		90		6,097
Haverty Furniture Cos., Inc.		336		6,048
Hibbett Sports, Inc.*		104		5,477
HOT Topic, Inc.		547		6,072
JOS A Bank Clothiers, Inc.*		126		5,108
Kirkland’s, Inc.*		551		6,375
Lithia Motors, Inc. - Class A		152		6,577
Lumber Liquidators Holdings, Inc.*		108		6,391
MarineMax, Inc.*		635		7,417
Men’s Wearhouse, Inc.(The)		176		5,342
Monro Muffler Brake, Inc.		166		6,012
OfficeMax, Inc.		550		5,929
Pep Boys- Manny, Moe & Jack		529		5,888
Rue21, Inc.*		187		5,556
Select Comfort Corp.*		217		4,778
Sonic Automotive, Inc. - Class A		266		6,456
Stage Stores, Inc.		218		4,981
Stein Mart, Inc.		757		6,389
Vitamin Shoppe, Inc.*		96		5,864
Zale Corp.*		1,161		5,712
Zumiez, Inc.*		276		5,824
Total Specialty Retail				174,777
Textiles, Apparel & Luxury Goods 2.3%
Crocs, Inc.*		392		5,825
Fifth & Pacific Cos., Inc.*		431		6,508
Iconix Brand Group, Inc.*		254		6,109
K-Swiss, Inc. - Class A*		1,757		8,276
Maidenform Brands, Inc.*		285		5,532
Movado Group, Inc.		174		6,361
Oxford Industries, Inc.		116		5,728
Perry Ellis International, Inc.		248		4,786
Quiksilver, Inc.*		1,500		9,810
Skechers U.S.A., Inc. - Class A*		294		5,586
Steven Madden Ltd.*		127		5,852
True Religion Apparel, Inc.		215		5,098
Wolverine World Wide, Inc.		132		5,676
Total Textiles, Apparel & Luxury Goods				81,147
Thrifts & Mortgage Finance 1.3%
Bank Mutual Corp.		1,307		6,705
Brookline Bancorp, Inc.		648		5,709
Dime Community Bancshares, Inc.		389		5,372
Northwest Bancshares, Inc.		446		5,441
Oritani Financial Corp.		362		5,481
Provident Financial Services, Inc.		369		5,472
TrustCo Bank Corp. NY		1,041		5,507
ViewPoint Financial Group, Inc.		260		5,499
Total Thrifts & Mortgage Finance				45,186
Tobacco 0.2%
Alliance One International, Inc.*		1,580		5,720
Total Tobacco				5,720
Trading Companies & Distributors 0.3%
Applied Industrial Technologies, Inc.		130		5,715
Kaman Corp.		150		5,451
Total Trading Companies & Distributors				11,166

6

GUGGENHEIM S&P SMALLCAP 600® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (concluded)	January 31, 2013

	Shares		Value
Water Utilities 0.2%
American States Water Co.		114	$	5,763
Total Water Utilities				5,763
Wireless Telecommunication Services 0.3%
NTELOS Holdings Corp.		406		5,250
USA Mobility, Inc.		467		5,398
Total Wireless Telecommunication Services				10,648
Total Common Stocks (Cost $3,324,794)				3,481,821
SHORT TERM INVESTMENTS 0.2%
SSgA Government Money Market Fund		6,013		6,013
Total Short Term Investments (Cost $6,013)				6,013
	Face Amount
SECURITIES LENDING COLLATERAL 0.2%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	2,313		2,313
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		2,313		2,313
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		3,293		3,293
Total Securities Lending Collateral (Cost $7,919)				7,919
Total Investments 100.2%(d) (Cost $3,338,726)				3,495,753
Other Assets and Liabilities, net – (0.2)%				(6,367	)
Net Assets – 100.0%			$	3,489,386

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

7

GUGGENHEIM RUSSELL MIDCAP® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 99.3%
Aerospace & Defense 1.0%
Alliant Techsystems, Inc.		828	$	53,588
BE Aerospace, Inc.*		1,076		55,403
Engility Holdings, Inc.*		2,670		51,398
Exelis, Inc.		4,396		48,312
Huntington Ingalls Industries, Inc.		1,224		54,223
L-3 Communications Holdings, Inc.		674		51,170
Rockwell Collins, Inc.		891		52,462
Spirit Aerosystems Holdings, Inc. - Class A*		3,168		50,498
Textron, Inc.		2,104		60,511
TransDigm Group, Inc.		394		53,364
Triumph Group, Inc.		787		55,381
Total Aerospace & Defense				586,310
Air Freight & Logistics 0.3%
C.H. Robinson Worldwide, Inc.		817		54,045
Expeditors International of Washington, Inc.		1,319		56,585
UTi Worldwide, Inc.		3,936		58,095
Total Air Freight & Logistics				168,725
Airlines 0.4%
Copa Holdings SA - Class A		529		57,978
Delta Air Lines, Inc.*		4,503		62,547
Southwest Airlines Co.		4,945		55,434
United Continental Holdings, Inc.*		2,203		53,202
Total Airlines				229,161
Auto Components 0.7%
Allison Transmission Holdings, Inc.		2,581		57,505
BorgWarner, Inc.*		635		47,104
Delphi Automotive PLC*		1,245		48,132
Gentex Corp.		2,322		44,420
Goodyear Tire & Rubber Co.(The)*		3,163		43,523
Lear Corp.		936		45,864
TRW Automotive Holdings Corp.*		829		47,775
Visteon Corp.*		846		47,621
Total Auto Components				381,944
Automobiles 0.2%
Harley-Davidson, Inc.		868		45,501
Tesla Motors, Inc.*		1,240		46,512
Thor Industries, Inc.		1,143		48,097
Total Automobiles				140,110
Beverages 2.1%
Beam, Inc.		2,824		173,224
Brown-Forman Corp. - Class B		2,720		175,984
Coca-Cola Enterprises, Inc.		5,439		189,658
Constellation Brands, Inc. - Class A*		4,871		157,625
Dr Pepper Snapple Group, Inc.		3,896		175,593
Molson Coors Brewing Co. - Class B		3,969		179,319
Monster Beverage Corp.*		3,254		155,867
Total Beverages				1,207,270
Biotechnology 1.6%
Alexion Pharmaceuticals, Inc.*		895		84,121
Ariad Pharmaceuticals, Inc.*		4,311		85,703
BioMarin Pharmaceutical, Inc.*		1,765		96,881
Incyte Corp.*(a)		5,360		98,517
Medivation, Inc.*		1,573		85,508
Myriad Genetics, Inc.*		3,170		85,780

	Shares		Value
Onyx Pharmaceuticals, Inc.*		1,075	$	83,334
Regeneron Pharmaceuticals, Inc.*		484		84,187
United Therapeutics Corp.*		1,682		90,643
Vertex Pharmaceuticals, Inc.*		2,009		89,963
Total Biotechnology				884,637
Building Products 0.8%
Armstrong World Industries, Inc.		1,897		104,316
Fortune Brands Home & Security, Inc.*		1,423		46,589
Lennox International, Inc.		1,760		101,218
Masco Corp.		5,626		103,462
Owens Corning*		2,540		105,842
Total Building Products				461,427
Capital Markets 1.2%
Affiliated Managers Group, Inc.*		244		35,119
American Capital Ltd.*		2,611		34,883
Ameriprise Financial, Inc.		506		33,558
Ares Capital Corp.		1,900		34,029
E*Trade Financial Corp.*		3,656		38,790
Eaton Vance Corp.		1,004		36,345
Federated Investors, Inc. - Class B(a)		1,570		37,146
Invesco Ltd.		1,223		33,327
Janus Capital Group, Inc.		3,715		34,549
Jefferies Group, Inc.		1,711		34,100
Lazard Ltd. - Class A		1,035		35,863
Legg Mason, Inc.		1,219		33,705
LPL Financial Holdings, Inc.		1,145		38,128
Northern Trust Corp.		650		33,456
Raymond James Financial, Inc.		816		36,418
SEI Investments Co.		1,394		37,582
T. Rowe Price Group, Inc.		486		34,725
TD Ameritrade Holding Corp.		1,866		36,182
Waddell & Reed Financial, Inc. - Class A		911		36,167
Total Capital Markets				674,072
Chemicals 4.0%
Airgas, Inc.		1,023		97,431
Albemarle Corp.		1,521		93,253
Ashland, Inc.		1,187		93,191
Cabot Corp.		2,339		87,549
Celanese Corp. - Series A		2,123		99,526
CF Industries Holdings, Inc.		457		104,731
Cytec Industries, Inc.		1,337		98,002
Eastman Chemical Co.		1,415		100,677
FMC Corp.		1,615		99,274
Huntsman Corp.		5,694		100,385
International Flavors & Fragrances, Inc.		1,401		98,672
Intrepid Potash, Inc.		4,415		102,869
Kronos Worldwide, Inc.(a)		5,583		108,254
NewMarket Corp.		352		89,816
PPG Industries, Inc.		709		97,750
Rockwood Holdings, Inc.		1,935		105,903
RPM International, Inc.		3,182		99,310
Scotts Miracle-Gro Co.(The) - Class A		2,146		93,823
Sherwin-Williams Co.(The)		617		100,040
Sigma-Aldrich Corp.		1,275		98,596
Valspar Corp.		1,524		101,011
Westlake Chemical Corp.		1,173		107,752
WR Grace & Co*		1,371		98,438
Total Chemicals				2,276,253
Commercial Banks 1.8%
Associated Banc-Corp.		2,411		34,405
Bank of Hawaii Corp.		713		34,288
BankUnited, Inc.		1,391		37,418

GUGGENHEIM RUSSELL MIDCAP® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
BOK Financial Corp.		585	$	32,789
CapitalSource, Inc.		4,295		34,832
CIT Group, Inc.*		835		35,362
City National Corp.		638		33,789
Comerica, Inc.		1,057		36,319
Commerce Bancshares, Inc.		893		33,532
Cullen/Frost Bankers, Inc.		583		34,333
East West Bancorp, Inc.		1,489		34,917
Fifth Third Bancorp		2,133		34,747
First Citizens BancShares Inc. - Class A		202		35,221
First Horizon National Corp.		3,182		32,488
First Niagara Financial Group, Inc.		4,067		31,885
First Republic Bank		958		34,191
Fulton Financial Corp.		3,256		35,458
Huntington Bancshares, Inc.		5,011		34,877
KeyCorp		3,771		35,447
M&T Bank Corp.		318		32,655
Popular, Inc.*		1,546		41,495
Regions Financial Corp.		4,563		35,500
Signature Bank*		451		33,342
SunTrust Banks, Inc.		1,130		32,058
SVB Financial Group*		568		37,698
Synovus Financial Corp.		13,024		33,602
TCF Financial Corp.		2,622		35,817
Valley National Bancorp(a)		3,365		32,943
Zions Bancorp		1,490		34,747
Total Commercial Banks				1,006,155
Commercial Services & Supplies 1.4%
Avery Dennison Corp.		1,494		57,534
Cintas Corp.		1,219		51,515
Clean Harbors, Inc.*		987		54,867
Copart, Inc.*		1,705		61,227
Corrections Corp. of America		1,472		55,774
Covanta Holding Corp.		2,836		55,926
Iron Mountain, Inc.		1,661		56,823
KAR Auction Services, Inc.		2,225		47,459
Pitney Bowes, Inc.(a)		4,652		67,035
R.R. Donnelley & Sons Co.(a)		5,763		53,020
Republic Services, Inc.		1,746		55,680
Rollins, Inc.		2,290		56,609
Stericycle, Inc.*		552		52,081
Waste Connections, Inc.		1,573		56,659
Total Commercial Services & Supplies				782,209
Communications Equipment 1.1%
Acme Packet, Inc.*		2,674		64,631
Brocade Communications Systems, Inc.*		11,002		62,931
EchoStar Corp. - Class A*		1,757		63,920
F5 Networks, Inc.*		621		65,130
Harris Corp.		1,215		56,133
JDS Uniphase Corp.*		4,579		66,441
Juniper Networks, Inc.*		2,981		66,715
Palo Alto Networks, Inc.*		1,162		64,328
Polycom, Inc.*		5,624		62,033
Riverbed Technology, Inc.*		3,117		60,470
Total Communications Equipment				632,732
Computers & Peripherals 0.9%
Diebold, Inc.		1,967		57,908
Fusion-io, Inc.*(a)		2,508		43,840
Lexmark International, Inc. - Class A(a)		2,178		52,403
NCR Corp.*		2,388		66,315
NetApp, Inc.*		1,761		63,396
SanDisk Corp.*		1,376		68,786
Stratasys Ltd.*(a)		802		62,941

	Shares		Value
Western Digital Corp.		1,522	$	71,534
Total Computers & Peripherals				487,123
Construction & Engineering 0.8%
Aecom Technology Corp.*		2,141		54,745
Chicago Bridge & Iron Co. NV		1,218		61,887
Fluor Corp.		875		56,726
Jacobs Engineering Group, Inc.*		1,210		58,213
KBR, Inc.		1,689		52,731
Quanta Services, Inc.*		1,882		54,521
Shaw Group, Inc.(The)*		1,132		53,566
URS Corp.		1,297		53,800
Total Construction & Engineering				446,189
Construction Materials 0.3%
Martin Marietta Materials, Inc.		987		97,446
Vulcan Materials Co.		1,766		99,885
Total Construction Materials				197,331
Consumer Finance 0.1%
SLM Corp.		1,869		31,567
Total Consumer Finance				31,567
Containers & Packaging 2.0%
AptarGroup, Inc.		1,975		101,772
Ball Corp.		2,126		94,650
Bemis Co., Inc.		2,837		101,224
Crown Holdings, Inc.*		2,516		95,256
Greif, Inc. - Class A		2,112		99,222
Owens-Illinois, Inc.*		4,524		107,671
Packaging Corp. of America		2,520		96,844
Rock Tenn Co. - Class A		1,352		106,740
Sealed Air Corp.		5,643		105,637
Silgan Holdings, Inc.		2,198		94,294
Sonoco Products Co.		3,181		98,579
Total Containers & Packaging				1,101,889
Distributors 0.2%
Genuine Parts Co.		674		45,852
LKQ Corp.*		2,049		45,877
Total Distributors				91,729
Diversified Consumer Services 0.5%
Apollo Group, Inc. - Class A*		1,936		39,146
DeVry, Inc.		1,688		42,487
H&R Block, Inc.		2,235		50,891
ITT Educational Services, Inc.*(a)		2,139		36,021
Service Corp. International		2,962		44,222
Weight Watchers International, Inc.		806		43,097
Total Diversified Consumer Services				255,864
Diversified Financial Services 0.5%
CBOE Holdings, Inc.		1,066		36,116
Interactive Brokers Group, Inc. - Class A		2,152		30,774
IntercontinentalExchange, Inc.*		251		34,826
Leucadia National Corp.		1,326		33,747
Moody’s Corp.		633		34,701
MSCI, Inc. - Class A*		1,038		35,022
NASDAQ OMX Group, Inc.(The)		1,276		36,136
NYSE Euronext		1,349		46,635
Total Diversified Financial Services				287,957
Diversified Telecommunication Services 0.9%
Frontier Communications Corp.(a)		26,634		121,717
Level 3 Communications, Inc.*		5,364		127,771
tw telecom, Inc.*		4,851		134,033

2

GUGGENHEIM RUSSELL MIDCAP® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Windstream Corp.(a)		13,778	$	134,198
Total Diversified Telecommunication Services				517,719
Electric Utilities 2.9%
Edison International		2,697		129,968
Entergy Corp.		1,886		121,836
Great Plains Energy, Inc.		5,954		127,416
Hawaiian Electric Industries, Inc.		4,832		130,319
ITC Holdings Corp.		1,573		127,413
Northeast Utilities		3,108		126,589
NV Energy, Inc.		6,666		126,187
OGE Energy Corp.		2,168		127,283
Pepco Holdings, Inc.		6,206		121,141
Pinnacle West Capital Corp.		2,366		126,297
PPL Corp.		4,187		126,824
Westar Energy, Inc.		4,243		127,587
Xcel Energy, Inc.		4,465		124,038
Total Electric Utilities				1,642,898
Electrical Equipment 1.0%
AMETEK, Inc.		1,376		56,402
Babcock & Wilcox Co.(The)		2,001		53,306
Eaton Corp. PLC		964		54,900
General Cable Corp.*		1,714		57,625
GrafTech International, Ltd.*		5,763		55,325
Hubbell, Inc. - Class B		621		56,542
Polypore International, Inc.*		2,086		80,499
Regal-Beloit Corp.		733		54,359
Rockwell Automation, Inc.		615		54,852
Roper Industries, Inc.		467		54,849
Total Electrical Equipment				578,659
Electronic Equipment, Instruments & Components 1.6%
Amphenol Corp. - Class A		934		63,110
Arrow Electronics, Inc.*		1,561		59,974
Avnet, Inc.*		1,924		68,033
AVX Corp.		5,598		63,761
Dolby Laboratories, Inc. - Class A		1,708		55,186
FLIR Systems, Inc.		2,433		57,832
Ingram Micro, Inc. - Class A*		3,559		64,703
IPG Photonics Corp.(a)		942		61,682
Itron, Inc.*		1,151		53,395
Jabil Circuit, Inc.		3,281		62,044
Molex, Inc.		2,214		60,132
National Instruments Corp.		2,002		56,857
Tech Data Corp.*		1,332		67,812
Trimble Navigation, Ltd.*		882		55,125
Vishay Intertechnology, Inc.*		5,870		64,511
Total Electronic Equipment, Instruments & Components				914,157
Energy Equipment & Services 3.9%
Atwood Oceanics, Inc.*		2,447		129,128
Cameron International Corp.*		2,003		126,810
CARBO Ceramics, Inc.		1,397		111,914
Diamond Offshore Drilling, Inc.(a)		1,648		123,748
Dresser-Rand Group, Inc.*		2,072		126,496
FMC Technologies, Inc.*		2,692		127,466
Helmerich & Payne, Inc.		2,024		130,224
McDermott International, Inc.*		10,395		126,507
Nabors Industries Ltd.*		7,845		130,776
Oceaneering International, Inc.		2,124		134,258
Oil States International, Inc.*		1,624		125,990
Patterson-UTI Energy, Inc.		6,061		123,281
Rowan Cos., PLC - Class A*		3,530		121,715
RPC, Inc.(a)		9,262		138,652

	Shares		Value
SEACOR Holdings, Inc.		1,372	$	124,811
Superior Energy Services, Inc.*		5,357		133,764
Tidewater, Inc.		1,114		54,775
Unit Corp.*		2,452		118,015
Total Energy Equipment & Services				2,208,330
Food & Staples Retailing 1.3%
Fresh Market, Inc.(The)*		3,429		167,644
Kroger Co.(The)		6,508		180,271
Safeway, Inc.(a)		9,544		183,722
Whole Foods Market, Inc.		1,899		182,779
Total Food & Staples Retailing				714,416
Food Products 5.3%
Bunge Ltd.		2,389		190,308
Campbell Soup Co.(a)		4,803		176,318
ConAgra Foods, Inc.		5,763		188,392
Dean Foods Co.*		10,557		193,299
Flowers Foods, Inc.		7,269		195,391
Green Mountain Coffee Roasters, Inc.*(a)		4,246		193,320
H.J. Heinz Co.		2,919		176,979
Hershey Co.(The)		2,349		186,628
Hillshire Brands Co.		6,130		189,907
Hormel Foods Corp.		5,520		191,047
Ingredion, Inc.		2,668		176,275
J.M. Smucker Co.(The)		1,993		176,639
McCormick & Co., Inc.		2,665		166,163
Mead Johnson Nutrition Co.		2,630		199,880
Smithfield Foods, Inc.*		7,870		183,450
Tyson Foods, Inc. - Class A		8,797		194,590
WhiteWave Foods Co. - Class A*(a)		2,109		34,145
Total Food Products				3,012,731
Gas Utilities 1.4%
AGL Resources, Inc.		3,069		128,284
Atmos Energy Corp.		3,417		127,659
National Fuel Gas Co.		2,314		125,882
Oneok, Inc.		2,834		133,227
Questar Corp.		6,244		145,048
UGI Corp.		3,788		133,489
Total Gas Utilities				793,589
Health Care Equipment & Supplies 2.8%
Alere, Inc.*		4,531		96,329
Boston Scientific Corp.*		15,034		112,304
C.R. Bard, Inc.		892		91,046
CareFusion Corp.*		3,062		95,044
Cooper Cos., Inc.(The)		916		92,837
DENTSPLY International, Inc.		2,150		89,784
Edwards Lifesciences Corp.*		947		85,164
Hill-Rom Holdings, Inc.		3,021		100,237
Hologic, Inc.*		4,254		101,415
IDEXX Laboratories, Inc.*		906		86,260
ResMed, Inc.		2,035		89,133
Sirona Dental Systems, Inc.*		1,383		91,928
St Jude Medical, Inc.		2,414		98,250
Teleflex, Inc.		1,237		92,775
Thoratec Corp.*		2,272		82,996
Varian Medical Systems, Inc.*		1,204		85,063
Zimmer Holdings, Inc.		1,267		94,518
Total Health Care Equipment & Supplies				1,585,083
Health Care Providers & Services 3.5%
AmerisourceBergen Corp.		1,982		89,923
Brookdale Senior Living, Inc.*		3,472		93,779
Catamaran Corp.*		1,732		89,874

3

GUGGENHEIM RUSSELL MIDCAP® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
CIGNA Corp.		1,597	$	93,169
Community Health Systems, Inc.		2,765		105,982
Coventry Health Care, Inc.		1,942		89,002
DaVita, Inc.*		786		90,712
HCA Holdings, Inc.		2,741		103,199
Health Management Associates, Inc. - Class A*		10,157		106,039
Health Net, Inc.*		3,392		92,262
Henry Schein, Inc.*		1,059		91,434
Humana, Inc.		1,274		94,735
Laboratory Corp. of America Holdings*		988		88,426
LifePoint Hospitals, Inc.*		2,267		99,091
Mednax, Inc.*		1,075		91,977
Omnicare, Inc.		2,399		93,441
Patterson Cos., Inc.		2,560		92,493
Quest Diagnostics, Inc.		1,437		83,274
Tenet Healthcare Corp.*		2,681		104,103
Universal Health Services, Inc. - Class B		1,808		102,405
VCA Antech, Inc.*		4,195		90,612
Total Health Care Providers & Services				1,985,932
Health Care Technology 0.3%
Allscripts Healthcare Solutions, Inc.*		8,097		89,715
Cerner Corp.*		1,088		89,814
Total Health Care Technology				179,529
Hotels, Restaurants & Leisure 1.4%
Bally Technologies, Inc.*		934		44,981
Brinker International, Inc.		1,356		44,395
Chipotle Mexican Grill, Inc.*		146		44,823
Choice Hotels International, Inc.		1,285		46,311
Darden Restaurants, Inc.		908		42,222
Dunkin’ Brands Group, Inc.		1,307		47,719
Hyatt Hotels Corp. - Class A*		1,145		45,880
International Game Technology		2,942		45,219
Marriott International, Inc. - Class A		1,146		45,817
MGM Resorts International*		3,688		47,096
Panera Bread Co. - Class A*		259		41,391
Penn National Gaming, Inc.*		867		42,188
Royal Caribbean Cruises Ltd.		1,207		43,693
Starwood Hotels & Resorts Worldwide, Inc.		763		46,856
Wendy’s Co.(The)		8,936		45,931
Wyndham Worldwide Corp.		812		45,302
Wynn Resorts Ltd.		376		47,083
Total Hotels, Restaurants & Leisure				766,907
Household Durables 1.2%
DR Horton, Inc.		2,136		50,538
Garmin Ltd.(a)		1,006		38,117
Harman International Industries, Inc.		988		44,243
Jarden Corp.*		852		50,132
Leggett & Platt, Inc.		1,569		46,191
Lennar Corp. - Class A		1,080		44,863
Mohawk Industries, Inc.*		504		51,237
Newell Rubbermaid, Inc.		1,958		45,974
NVR, Inc.*		45		46,335
PulteGroup, Inc.*		2,305		47,806
Tempur-Pedic International, Inc.*		1,356		52,830
Toll Brothers, Inc.*		1,319		49,396
Tupperware Brands Corp.		653		49,758
Whirlpool Corp.		418		48,229
Total Household Durables				665,649
Household Products 1.0%
Church & Dwight Co., Inc.		3,226		186,431

	Shares		Value
Clorox Co.(The)		2,277	$	178,540
Energizer Holdings, Inc.		2,151		187,158
Total Household Products				552,129
Independent Power Producers & Energy Traders 0.7%
AES Corp.(The)		11,160		120,975
Calpine Corp.*		6,855		135,249
NRG Energy, Inc.		5,336		128,064
Total Independent Power Producers & Energy Traders				384,288
Industrial Conglomerates 0.1%
Carlisle Cos., Inc.		886		56,837
Total Industrial Conglomerates				56,837
Insurance 2.6%
Alleghany Corp.*		97		34,977
Allied World Assurance Co. Holdings AG		409		34,696
American Financial Group, Inc.		811		34,516
American National Insurance Co.		468		36,134
Aon PLC		566		32,681
Arch Capital Group Ltd.*		734		34,072
Arthur J. Gallagher & Co.		913		33,735
Aspen Insurance Holdings Ltd.		1,010		34,451
Assurant, Inc.		906		34,645
Assured Guaranty Ltd.		2,202		39,922
Axis Capital Holdings Ltd.		917		35,094
Brown & Brown, Inc.		1,225		33,492
Cincinnati Financial Corp.		802		34,037
CNA Financial Corp.		1,129		35,168
Endurance Specialty Holdings Ltd.		814		34,937
Erie Indemnity Co. - Class A		471		33,601
Everest Re Group Ltd.		301		34,859
Fidelity National Financial, Inc. - Class A		1,381		34,663
Genworth Financial, Inc. - Class A*		4,377		40,137
Hanover Insurance Group, Inc.(The)		840		34,910
Hartford Financial Services Group, Inc.		1,430		35,464
HCC Insurance Holdings, Inc.		861		33,304
Kemper Corp.		1,079		35,942
Lincoln National Corp.		1,216		35,240
Markel Corp.*		66		31,425
MBIA, Inc.*		3,986		34,320
Mercury General Corp.		759		30,056
Old Republic International Corp.		2,979		33,961
PartnerRe Ltd.		393		34,462
Principal Financial Group, Inc.		1,121		34,762
ProAssurance Corp.		748		33,690
Progressive Corp.(The)		1,500		33,735
Protective Life Corp.		1,107		35,026
Reinsurance Group of America, Inc.		601		34,491
RenaissanceRe Holdings Ltd.		405		34,684
StanCorp Financial Group, Inc.		887		34,495
Torchmark Corp.		620		34,540
Unum Group		1,513		35,268
Validus Holdings Ltd.		937		34,116
W.R. Berkley Corp.		824		33,924
White Mountains Insurance Group Ltd.		62		34,141
XL Group PLC		1,283		35,565
Total Insurance				1,453,338
Internet & Catalog Retail 0.7%
Expedia, Inc.		699		45,610
Groupon, Inc.*(a)		12,032		66,176
HomeAway, Inc.*		2,021		48,443
Liberty Interactive Corp. - Series A*		2,182		46,389
Liberty Ventures*		670		50,002

4

GUGGENHEIM RUSSELL MIDCAP® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Netflix, Inc.*		448	$	74,028
TripAdvisor, Inc.*		998		46,188
Total Internet & Catalog Retail				376,836
Internet Software & Services 0.8%
Akamai Technologies, Inc.*		1,475		60,047
AOL, Inc.*		1,957		59,982
Equinix, Inc.*		297		63,983
IAC/InterActiveCorp		1,293		53,336
LinkedIn Corp. - Class A*		523		64,742
Rackspace Hosting, Inc.*		834		62,842
VeriSign, Inc.*		1,634		70,932
Total Internet Software & Services				435,864
IT Services 1.9%
Alliance Data Systems Corp.*		221		34,830
Amdocs Ltd.		1,729		61,708
Booz Allen Hamilton Holding Corp.		3,639		50,436
Broadridge Financial Solutions, Inc.		1,369		32,267
Computer Sciences Corp.		1,501		62,742
CoreLogic, Inc.*		1,149		30,150
DST Systems, Inc.		972		65,066
Fidelity National Information Services, Inc.		915		33,956
Fiserv, Inc.*		397		31,883
FleetCor Technologies, Inc.*		624		37,340
Gartner, Inc.*		1,302		67,066
Genpact Ltd.		3,235		54,186
Global Payments, Inc.		707		34,827
Jack Henry & Associates, Inc.		811		33,640
Lender Processing Services, Inc.		1,252		30,098
NeuStar, Inc. - Class A*		1,398		63,106
Paychex, Inc.		1,566		51,099
SAIC, Inc.		5,123		61,988
Teradata Corp.*		963		64,194
Total System Services, Inc.		1,450		33,712
Vantiv, Inc. - Class A*		1,535		31,959
VeriFone Systems, Inc.*		2,081		72,252
Western Union Co.(The)		2,399		34,138
Total IT Services				1,072,643
Leisure Equipment & Products 0.2%
Hasbro, Inc.(a)		1,168		43,648
Mattel, Inc.		1,143		43,011
Polaris Industries, Inc.		519		45,200
Total Leisure Equipment & Products				131,859
Life Sciences Tools & Services 1.8%
Agilent Technologies, Inc.		1,254		56,154
Bio-Rad Laboratories, Inc. - Class A*		813		92,511
Bruker Corp.*		5,601		94,489
Charles River Laboratories International, Inc.*		2,288		94,540
Covance, Inc.*		1,479		98,664
Illumina, Inc.*(a)		1,679		85,008
Life Technologies Corp.*		1,680		108,679
Mettler-Toledo International, Inc.*		268		56,958
PerkinElmer, Inc.		2,696		95,007
QIAGEN NV*		4,806		100,926
Techne Corp.		1,261		90,389
Waters Corp.*		582		53,294
Total Life Sciences Tools & Services				1,026,619
Machinery 3.6%
AGCO Corp.*		1,051		55,703
CNH Global NV		1,294		61,776

	Shares		Value
Colfax Corp.*		1,331	$	59,376
Crane Co.		1,159		58,275
Donaldson Co., Inc.		1,547		58,183
Dover Corp.		795		54,998
Flowserve Corp.		359		56,280
Gardner Denver, Inc.		705		49,611
Graco, Inc.		988		56,514
Harsco Corp.		2,268		57,811
IDEX Corp.		1,129		56,326
Ingersoll-Rand PLC		1,077		55,347
ITT Corp.		2,252		57,831
Joy Global, Inc.		832		52,557
Kennametal, Inc.		1,257		51,550
Lincoln Electric Holdings, Inc.		1,068		57,597
Manitowoc Co., Inc.(The)		3,282		57,763
Navistar International Corp.*		2,272		59,276
Nordson Corp.		837		56,598
Oshkosh Corp.*		1,730		67,781
PACCAR, Inc.		1,155		54,354
Pall Corp.		849		57,987
Parker Hannifin Corp.		599		55,689
Pentair Ltd.		1,054		53,417
Snap-on, Inc.		538		43,589
SPX Corp.		816		60,898
Stanley Black & Decker, Inc.		697		53,551
Terex Corp.*		1,909		61,813
Timken Co.		1,968		105,504
Toro Co.(The)		1,203		52,968
Trinity Industries, Inc.		1,440		57,168
Valmont Industries, Inc.		689		100,401
WABCO Holdings, Inc.*		683		42,797
Wabtec Corp.		585		54,768
Xylem, Inc.		1,909		53,318
Total Machinery				2,049,375
Marine 0.2%
Kirby Corp.*		858		60,618
Matson, Inc.		2,103		57,643
Total Marine				118,261
Media 1.9%
AMC Networks, Inc. - Class A*		847		48,254
Cablevision Systems Corp. - Class A		2,848		41,695
Charter Communications, Inc. - Class A*		579		45,145
Cinemark Holdings, Inc.		1,635		46,009
Clear Channel Outdoor Holdings, Inc. - Class A*		5,999		44,993
Discovery Communications, Inc. - Class A*		674		46,762
DISH Network Corp. - Class A		1,198		44,649
DreamWorks Animation SKG, Inc. - Class A*		2,562		44,604
Gannett Co., Inc.		2,299		45,129
Interpublic Group of Cos., Inc.(The)		3,816		46,212
John Wiley & Sons, Inc. - Class A		1,153		44,160
Lamar Advertising Co. - Class A*		1,079		46,009
Liberty Global, Inc. - Class A*		684		46,710
Liberty Media Corp. - Liberty Capital - Series A*		373		41,593
Madison Square Garden Co.(The) - Class A*		958		49,835
McGraw-Hill Cos., Inc.(The)		787		45,268
Morningstar, Inc.		500		33,845
Omnicom Group, Inc.		849		46,084
Pandora Media, Inc.*(a)		4,672		53,821
Regal Entertainment Group - Class A(a)		3,108		46,402

5

GUGGENHEIM RUSSELL MIDCAP® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Scripps Networks Interactive, Inc. - Class A		725	$	44,783
Sirius XM Radio, Inc.		14,491		45,502
Starz - Liberty Capital*		373		5,946
Virgin Media, Inc.		1,176		46,323
Washington Post Co.(The) - Class B		115		44,353
Total Media				1,094,086
Metals & Mining 2.5%
Alcoa, Inc.		10,545		93,218
Allegheny Technologies, Inc.		3,154		99,824
Allied Nevada Gold Corp.*		3,132		74,197
Carpenter Technology Corp.		1,812		94,822
Cliffs Natural Resources, Inc.(a)		2,660		99,245
Commercial Metals Co.		6,264		104,296
Compass Minerals International, Inc.		1,241		89,414
Molycorp, Inc.*(a)		9,211		67,977
Nucor Corp.		2,153		99,060
Reliance Steel & Aluminum Co.		1,541		99,733
Royal Gold, Inc.		1,182		88,260
Steel Dynamics, Inc.		6,640		100,994
Tahoe Resources, Inc.*		5,264		84,750
United States Steel Corp.(a)		3,844		85,913
Walter Energy, Inc.		3,143		118,020
Total Metals & Mining				1,399,723
Multi-Utilities 3.0%
Alliant Energy Corp.		2,739		125,556
Ameren Corp.		4,074		132,160
CenterPoint Energy, Inc.		6,197		126,667
CMS Energy Corp.		5,017		128,937
DTE Energy Co.		2,011		127,316
Integrys Energy Group, Inc.		2,265		123,873
MDU Resources Group, Inc.		5,670		132,224
NiSource, Inc.		5,003		135,231
SCANA Corp.		2,631		123,157
Sempra Energy		1,697		127,360
TECO Energy, Inc.		7,288		129,508
Vectren Corp.		4,101		129,428
Wisconsin Energy Corp.		3,247		128,029
Total Multi-Utilities				1,669,446
Multiline Retail 0.8%
Big Lots, Inc.*		1,485		47,743
Dillard’s, Inc. - Class A		512		43,218
Dollar General Corp.*		970		44,833
Dollar Tree, Inc.*		1,065		42,589
Family Dollar Stores, Inc.		653		37,025
J.C. Penney Co., Inc.(a)		2,127		43,242
Kohl’s Corp.		968		44,809
Macy’s, Inc.		1,097		43,342
Nordstrom, Inc.		818		45,178
Sears Holdings Corp.*(a)		968		45,448
Total Multiline Retail				437,427
Office Electronics 0.2%
Xerox Corp.		7,292		58,409
Zebra Technologies Corp. - Class A*		1,300		56,264
Total Office Electronics				114,673
Oil, Gas & Consumable Fuels 7.5%
Alpha Natural Resources, Inc.*		11,510		101,979
Cabot Oil & Gas Corp.		2,336		123,294
Cheniere Energy, Inc.*		6,338		134,556
Chesapeake Energy Corp.		6,599		133,168
Cimarex Energy Co.		1,932		123,378

	Shares		Value
Cobalt International Energy, Inc.*		4,424	$	107,105
Concho Resources, Inc.*		1,360		124,059
CONSOL Energy, Inc.		3,320		104,049
Continental Resources, Inc.*		1,520		126,342
Denbury Resources, Inc.*		6,945		129,385
Energen Corp.		2,722		131,037
EQT Corp.		1,954		116,087
EXCO Resources, Inc.		14,860		95,253
Golar LNG Ltd.		2,997		123,027
HollyFrontier Corp.		2,444		127,626
Kosmos Energy Ltd.*		9,353		115,790
Laredo Petroleum Holdings, Inc.*		6,251		115,331
Marathon Petroleum Corp.		1,807		134,097
Murphy Oil Corp.		1,852		110,231
Newfield Exploration Co.*		4,193		123,693
Noble Energy, Inc.		1,107		119,324
Peabody Energy Corp.		4,159		104,599
Pioneer Natural Resources Co.		1,056		124,122
Plains Exploration & Production Co.*		2,458		117,369
QEP Resources, Inc.		3,675		107,861
Range Resources Corp.		1,766		118,622
SandRidge Energy, Inc.*(a)		17,566		124,367
SM Energy Co.		2,215		128,824
Southwestern Energy Co.*		3,353		115,008
Teekay Corp.		1,628		57,273
Tesoro Corp.		2,545		123,916
Ultra Petroleum Corp.*		5,669		103,289
Valero Energy Corp.		3,324		145,359
Whiting Petroleum Corp.*		2,617		124,517
World Fuel Services Corp.		2,762		119,070
WPX Energy, Inc.*		7,218		108,487
Total Oil, Gas & Consumable Fuels				4,241,494
Paper & Forest Products 0.5%
Domtar Corp.		1,141		94,965
International Paper Co.		2,413		99,946
MeadWestvaco Corp.		3,016		94,552
Total Paper & Forest Products				289,463
Personal Products 0.4%
Avon Products, Inc.		2,956		50,193
Herbalife Ltd.(a)		4,096		148,767
Nu Skin Enterprises, Inc. - Class A		939		39,776
Total Personal Products				238,736
Pharmaceuticals 1.3%
Actavis, Inc.*		969		83,712
Endo Health Solutions, Inc.*		3,322		105,175
Forest Laboratories, Inc.*		2,418		87,773
Hospira, Inc.*		2,709		92,431
Mylan, Inc.*		3,073		86,874
Perrigo Co.		839		84,328
Salix Pharmaceuticals Ltd.*		2,058		98,578
Warner Chilcott PLC - Class A		7,478		105,963
Total Pharmaceuticals				744,834
Professional Services 0.7%
Dun & Bradstreet Corp.(The)		385		31,393
Equifax, Inc.		586		34,398
IHS, Inc. - Class A*		559		57,521
Manpower, Inc.		1,215		62,573
Nielsen Holdings NV*		1,387		45,091
Robert Half International, Inc.		1,705		60,084
Towers Watson & Co. - Class A		890		54,361

6

GUGGENHEIM RUSSELL MIDCAP® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Verisk Analytics, Inc. - Class A*		1,034	$	57,036
Total Professional Services				402,457
Real Estate Investment Trusts (REITs) 3.3%
Alexandria Real Estate Equities, Inc.		460		33,350
American Campus Communities, Inc.		707		32,925
American Capital Agency Corp.		1,033		32,674
Annaly Capital Management, Inc.		2,254		33,517
Apartment Investment & Management Co. - Class A		1,233		33,636
AvalonBay Communities, Inc.		241		31,279
BioMed Realty Trust, Inc.		1,693		34,453
Boston Properties, Inc.		305		32,110
Brandywine Realty Trust		2,696		34,320
BRE Properties, Inc.		655		33,326
Camden Property Trust		482		33,446
CBL & Associates Properties, Inc.		1,508		32,407
Chimera Investment Corp.		12,094		36,887
CommonWealth REIT		2,018		33,176
Corporate Office Properties Trust		1,294		34,239
DDR Corp.		2,074		34,408
Digital Realty Trust, Inc.		483		32,801
Douglas Emmett, Inc.		1,392		32,461
Duke Realty Corp.		2,324		35,813
Equity Lifestyle Properties, Inc.		482		34,511
Essex Property Trust, Inc.		223		34,293
Extra Space Storage, Inc.		899		35,816
Federal Realty Investment Trust		307		32,496
General Growth Properties, Inc.		1,617		31,564
Hatteras Financial Corp.		1,259		34,094
HCP, Inc.		719		33,354
Health Care REIT, Inc.		543		34,122
Home Properties, Inc.		537		33,009
Hospitality Properties Trust		1,396		35,207
Host Hotels & Resorts, Inc.		2,053		34,470
Kilroy Realty Corp.		695		34,681
Kimco Realty Corp.		1,651		34,291
Liberty Property Trust		914		35,801
Macerich Co.(The)		554		33,085
Mack-Cali Realty Corp.		1,253		34,044
MFA Financial, Inc.		3,904		35,097
Mid-America Apartment Communities, Inc.		504		32,947
National Retail Properties, Inc.		1,045		33,461
Piedmont Office Realty Trust, Inc. - Class A		1,803		34,852
Plum Creek Timber Co., Inc.		726		34,979
Post Properties, Inc.		659		31,968
ProLogis, Inc.		898		35,830
Rayonier, Inc.		636		34,242
Realty Income Corp.		785		34,289
Regency Centers Corp.		688		34,283
Retail Properties of America, Inc. - Class A		2,681		34,692
Senior Housing Properties Trust		1,385		33,365
SL Green Realty Corp.		417		33,518
Tanger Factory Outlet Centers, Inc.		956		33,862
Taubman Centers, Inc.		416		33,904
UDR, Inc.		1,388		33,159
Ventas, Inc.		504		33,410
Vornado Realty Trust		406		34,291
Weingarten Realty Investors		1,183		34,118
Weyerhaeuser Co.		1,137		34,246
Total Real Estate Investment Trusts (REITs)				1,862,579

	Shares		Value
Real Estate Management & Development 0.4%
Alexander & Baldwin, Inc.*		1,129	$	37,934
CBRE Group, Inc.*		1,576		34,010
Forest City Enterprises, Inc. - Class A*		1,966		33,245
Howard Hughes Corp.(The)*		431		31,032
Jones Lang LaSalle, Inc.		373		34,368
Realogy Holdings Corp.*		801		35,861
St Joe Co.(The)*		1,439		33,817
Total Real Estate Management & Development				240,267
Road & Rail 0.6%
Con-way, Inc.		1,860		58,367
Hertz Global Holdings, Inc.*		2,612		47,747
JB Hunt Transport Services, Inc.		887		59,668
Kansas City Southern		632		58,846
Landstar System, Inc.		1,040		59,322
Ryder System, Inc.		1,019		57,859
Total Road & Rail				341,809
Semiconductors & Semiconductor Equipment 2.9%
Advanced Micro Devices, Inc.*(a)		23,968		62,317
Altera Corp.		1,771		59,187
Analog Devices, Inc.		1,432		62,493
Applied Materials, Inc.		5,402		69,740
Atmel Corp.*		9,934		66,558
Avago Technologies Ltd.		1,872		66,961
Cree, Inc.*		1,753		75,642
Cypress Semiconductor Corp.*		5,359		55,037
Fairchild Semiconductor International, Inc.*		4,145		61,222
Freescale Semiconductor Ltd.*		5,698		82,336
KLA-Tencor Corp.		1,261		69,242
Lam Research Corp.*		1,639		67,428
Linear Technology Corp.		1,758		64,378
LSI Corp.*		8,804		61,980
Marvell Technology Group Ltd.		7,007		64,815
Maxim Integrated Products, Inc.		2,021		63,560
Microchip Technology, Inc.		1,869		62,518
Micron Technology, Inc.*		9,015		68,153
NVIDIA Corp.		4,809		58,958
ON Semiconductor Corp.*		8,555		67,157
PMC - Sierra, Inc.*		11,461		66,245
Silicon Laboratories, Inc.*		1,413		61,663
Skyworks Solutions, Inc.*		2,861		68,492
Teradyne, Inc.*		3,602		58,208
Xilinx, Inc.		1,679		61,267
Total Semiconductors & Semiconductor Equipment				1,625,557
Software 3.1%
Activision Blizzard, Inc.		5,436		61,916
ANSYS, Inc.*		872		64,179
Autodesk, Inc.*		1,690		65,707
BMC Software, Inc.*		1,449		60,206
CA, Inc.		2,695		66,890
Cadence Design Systems, Inc.*		4,504		62,741
Citrix Systems, Inc.*		898		65,698
Compuware Corp.*		5,577		64,805
Concur Technologies, Inc.*		886		59,273
Electronic Arts, Inc.*		4,051		63,722
Factset Research Systems, Inc.(a)		349		32,289
Fortinet, Inc.*		2,830		66,760
Informatica Corp.*		1,977		73,169
Intuit, Inc.		974		60,758
MICROS Systems, Inc.*		1,471		67,710
NetSuite, Inc.*		912		64,050
Nuance Communications, Inc.*		2,632		63,300

7

GUGGENHEIM RUSSELL MIDCAP® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Red Hat, Inc.*		1,157	$	64,283
Rovi Corp.*		3,780		65,356
ServiceNow, Inc.*		1,851		51,310
Solarwinds, Inc.*		1,109		60,352
Solera Holdings, Inc.		1,125		61,661
Splunk, Inc.*		2,137		70,435
Symantec Corp.*		3,211		69,903
Synopsys, Inc.*		1,865		62,366
TIBCO Software, Inc.*		2,840		66,570
Workday, Inc. - Class A*		1,131		60,418
Zynga, Inc. - Class A*		25,271		68,484
Total Software				1,764,311
Specialty Retail 2.7%
Aaron’s, Inc.		1,511		44,801
Abercrombie & Fitch Co. - Class A		876		43,800
Advance Auto Parts, Inc.		588		43,230
American Eagle Outfitters, Inc.		2,038		41,188
Ascena Retail Group, Inc.*		2,243		38,019
AutoNation, Inc.*		1,085		52,623
AutoZone, Inc.*		119		43,994
Bed Bath & Beyond, Inc.*		710		41,677
Best Buy Co., Inc.		3,539		57,544
CarMax, Inc.*		1,221		48,132
Chico’s FAS, Inc.		2,275		40,791
Dick’s Sporting Goods, Inc.		925		44,021
DSW, Inc. - Class A		657		43,973
Foot Locker, Inc.		1,283		44,071
GameStop Corp. - Class A(a)		1,547		35,890
Gap, Inc.(The)		1,340		43,791
GNC Holdings, Inc. - Class A		4,971		178,658
Guess?, Inc.		1,672		45,294
Limited Brands, Inc.		887		42,594
O’Reilly Automotive, Inc.*		466		43,175
PetSmart, Inc.		601		39,311
Ross Stores, Inc.		788		47,044
Sally Beauty Holdings, Inc.*		1,816		48,197
Sears Hometown and Outlet Stores, Inc.*		1,430		55,984
Signet Jewelers Ltd.		759		47,498
Staples, Inc.		3,554		47,908
Tiffany & Co.		716		47,077
Tractor Supply Co.		494		51,213
Ulta Salon Cosmetics & Fragrance, Inc.		438		42,845
Urban Outfitters, Inc.*		1,081		46,256
Williams-Sonoma, Inc.		959		42,196
Total Specialty Retail				1,532,795
Textiles, Apparel & Luxury Goods 0.7%
Carter’s, Inc.*		801		48,244
Deckers Outdoor Corp.*(a)		1,149		45,903
Fossil, Inc.*		455		48,039
Hanesbrands, Inc.*		1,175		44,039
Michael Kors Holdings Ltd.*		803		45,072
PVH Corp.		383		45,527
Ralph Lauren Corp.		281		46,781
Under Armour, Inc. - Class A*		860		43,748
V.F. Corp.		282		41,618
Total Textiles, Apparel & Luxury Goods				408,971
Thrifts & Mortgage Finance 0.4%
Capitol Federal Financial, Inc.		2,632		30,926
Hudson City Bancorp, Inc.		3,904		33,379
New York Community Bancorp, Inc.		2,421		32,320
People’s United Financial, Inc.		2,594		31,932
TFS Financial Corp.*		3,689		37,739

	Shares		Value
Washington Federal, Inc.		1,969	$	34,635
Total Thrifts & Mortgage Finance				200,931
Tobacco 0.3%
Lorillard, Inc.		4,500		175,815
Total Tobacco				175,815
Trading Companies & Distributors 1.0%
Air Lease Corp.*		2,339		55,832
Fastenal Co.		2,105		104,576
GATX Corp.		1,202		56,915
MRC Global, Inc.*		3,436		105,588
MSC Industrial Direct Co., Inc. - Class A		711		56,254
United Rentals, Inc.*		1,162		58,821
W.W. Grainger, Inc.		266		57,940
WESCO International, Inc.*		788		57,469
Total Trading Companies & Distributors				553,395
Water Utilities 0.5%
American Water Works Co., Inc.		3,267		125,061
Aqua America, Inc.		4,927		134,162
Total Water Utilities				259,223
Wireless Telecommunication Services 1.6%
Clearwire Corp. - Class A*		42,973		137,084
Crown Castle International Corp.*		848		59,801
MetroPCS Communications, Inc.*		12,381		124,181
NII Holdings, Inc.*(a)		18,161		127,127
SBA Communications Corp. - Class A*		865		60,256
Sprint Nextel Corp.*		22,299		125,543
Telephone & Data Systems, Inc.		5,390		136,313
United States Cellular Corp.*		3,440		130,858
Total Wireless Telecommunication Services				901,163
Total Common Stocks (Cost $48,821,886)				56,053,457
SHORT TERM INVESTMENTS 0.7%
SSgA Government Money Market Fund		397,769		397,769
Total Short Term Investments (Cost $397,769)				397,769
	Face Amount
SECURITIES LENDING COLLATERAL 2.3%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	376,399		376,399
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		376,399		376,399
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		535,902		535,902
Total Securities Lending Collateral (Cost $1,288,700)				1,288,700

8

GUGGENHEIM RUSSELL MIDCAP® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (concluded)	January 31, 2013

Total Investments 102.3%(d) (Cost $50,508,355)		57,739,926
Other Assets and Liabilities, net – (2.3)%		(1,283,132	)
Net Assets – 100.0%	$	56,456,794

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

9

GUGGENHEIM RUSSELL 1000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 99.4%
Aerospace & Defense 1.5%
Alliant Techsystems, Inc.		564	$	36,502
BE Aerospace, Inc.*		731		37,639
Boeing Co.(The)		468		34,571
Engility Holdings, Inc.*		1,816		34,958
Exelis, Inc.		2,990		32,860
General Dynamics Corp.		511		33,879
Honeywell International, Inc.		552		37,669
Huntington Ingalls Industries, Inc.		831		36,813
L-3 Communications Holdings, Inc.		457		34,696
Lockheed Martin Corp.		379		32,924
Northrop Grumman Corp.		516		33,561
Precision Castparts Corp.		348		63,823
Raytheon Co.		599		31,555
Rockwell Collins, Inc.		605		35,622
Spirit Aerosystems Holdings, Inc. - Class A*		2,153		34,319
Textron, Inc.		1,429		41,098
TransDigm Group, Inc.		269		36,433
Triumph Group, Inc.		534		37,578
United Technologies Corp.		429		37,568
Total Aerospace & Defense				704,068
Air Freight & Logistics 0.4%
C.H. Robinson Worldwide, Inc.		555		36,713
Expeditors International of Washington, Inc.		897		38,481
FedEx Corp.		381		38,652
United Parcel Service, Inc. - Class B		471		37,346
UTi Worldwide, Inc.		2,676		39,498
Total Air Freight & Logistics				190,690
Airlines 0.3%
Copa Holdings SA - Class A		358		39,237
Delta Air Lines, Inc.*		3,063		42,545
Southwest Airlines Co.		3,363		37,699
United Continental Holdings, Inc.*		1,498		36,177
Total Airlines				155,658
Auto Components 0.6%
Allison Transmission Holdings, Inc.		1,754		39,079
BorgWarner, Inc.*		439		32,565
Delphi Automotive PLC*		857		33,132
Gentex Corp.		1,600		30,608
Goodyear Tire & Rubber Co.(The)*		2,179		29,983
Johnson Controls, Inc.		1,013		31,494
Lear Corp.		645		31,605
TRW Automotive Holdings Corp.*		572		32,964
Visteon Corp.*		582		32,761
Total Auto Components				294,191
Automobiles 0.3%
Ford Motor Co.		2,533		32,802
General Motors Co.*		1,159		32,556
Harley-Davidson, Inc.		599		31,400
Tesla Motors, Inc.*		854		32,034
Thor Industries, Inc.		789		33,201
Total Automobiles				161,993
Beverages 1.9%
Beam, Inc.		1,593		97,715
Brown-Forman Corp. - Class B		1,533		99,185
Coca-Cola Co.(The)		2,632		98,016

	Shares		Value
Coca-Cola Enterprises, Inc.		3,066	$	106,911
Constellation Brands, Inc. - Class A*		2,746		88,860
Dr Pepper Snapple Group, Inc.		2,196		98,974
Molson Coors Brewing Co. - Class B		2,239		101,158
Monster Beverage Corp.*		1,834		87,849
PepsiCo, Inc.		1,392		101,407
Total Beverages				880,075
Biotechnology 1.7%
Alexion Pharmaceuticals, Inc.*		548		51,506
Amgen, Inc.		597		51,020
Ariad Pharmaceuticals, Inc.*		2,642		52,523
Biogen Idec, Inc.*		348		54,316
BioMarin Pharmaceutical, Inc.*		1,081		59,336
Celgene Corp.*		667		66,006
Gilead Sciences, Inc.*		1,404		55,388
Incyte Corp.*(a)		3,286		60,397
Medivation, Inc.*		965		52,457
Myriad Genetics, Inc.*		1,943		52,578
Onyx Pharmaceuticals, Inc.*		658		51,008
Regeneron Pharmaceuticals, Inc.*		297		51,660
United Therapeutics Corp.*		1,030		55,507
Vertex Pharmaceuticals, Inc.*		1,230		55,079
Total Biotechnology				768,781
Building Products 0.7%
Armstrong World Industries, Inc.		1,321		72,642
Fortune Brands Home & Security, Inc.*		980		32,085
Lennox International, Inc.		1,226		70,508
Masco Corp.		3,918		72,052
Owens Corning*		1,769		73,714
Total Building Products				321,001
Capital Markets 1.4%
Affiliated Managers Group, Inc.*		170		24,468
American Capital Ltd.*		1,812		24,208
Ameriprise Financial, Inc.		351		23,278
Ares Capital Corp.		1,317		23,587
Bank of New York Mellon Corp.(The)		856		23,249
BlackRock, Inc.		107		25,282
Charles Schwab Corp.(The)		1,570		25,952
E*Trade Financial Corp.*		2,536		26,907
Eaton Vance Corp.		696		25,195
Federated Investors, Inc. - Class B(a)		1,090		25,789
Franklin Resources, Inc.		174		23,817
Goldman Sachs Group, Inc.(The)		175		25,875
Invesco Ltd.		848		23,108
Janus Capital Group, Inc.		2,575		23,948
Jefferies Group, Inc.		1,188		23,677
Lazard Ltd. - Class A		718		24,879
Legg Mason, Inc.		846		23,392
LPL Financial Holdings, Inc.		794		26,440
Morgan Stanley		1,167		26,666
Northern Trust Corp.		450		23,162
Raymond James Financial, Inc.		567		25,305
SEI Investments Co.		967		26,070
State Street Corp.		475		26,434
T. Rowe Price Group, Inc.		339		24,222
TD Ameritrade Holding Corp.		1,294		25,091
Waddell & Reed Financial, Inc. - Class A		630		25,011
Total Capital Markets				645,012
Chemicals 4.6%
Air Products & Chemicals, Inc.		774		67,671
Airgas, Inc.		714		68,001
Albemarle Corp.		1,058		64,866

GUGGENHEIM RUSSELL 1000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Ashland, Inc.		826	$	64,849
Cabot Corp.		1,628		60,936
Celanese Corp. - Series A		1,478		69,289
CF Industries Holdings, Inc.		319		73,105
Cytec Industries, Inc.		930		68,169
Dow Chemical Co.(The)		1,996		64,271
Du Pont (E.I.) de Nemours & Co.		1,456		69,087
Eastman Chemical Co.		985		70,083
Ecolab, Inc.		910		65,884
FMC Corp.		1,125		69,154
Huntsman Corp.		3,966		69,921
International Flavors & Fragrances, Inc.		975		68,669
Intrepid Potash, Inc.		3,074		71,624
Kronos Worldwide, Inc.(a)		3,888		75,388
LyondellBasell Industries NV - Class A		1,193		75,660
Monsanto Co.		709		71,857
Mosaic Co.(The)		1,170		71,663
NewMarket Corp.		246		62,769
PPG Industries, Inc.		495		68,246
Praxair, Inc.		598		66,001
Rockwood Holdings, Inc.		1,348		73,776
RPM International, Inc.		2,216		69,161
Scotts Miracle-Gro Co.(The) - Class A		1,495		65,362
Sherwin-Williams Co.(The)		429		69,558
Sigma-Aldrich Corp.		889		68,746
Valspar Corp.		1,063		70,456
Westlake Chemical Corp.		818		75,142
WR Grace & Co*		954		68,497
Total Chemicals				2,137,861
Commercial Banks 1.7%
Associated Banc-Corp.		1,672		23,859
Bank of Hawaii Corp.		495		23,805
BankUnited, Inc.		966		25,985
BB&T Corp.		752		22,771
BOK Financial Corp.		405		22,700
CapitalSource, Inc.		2,977		24,143
CIT Group, Inc.*		579		24,521
City National Corp.		443		23,461
Comerica, Inc.		732		25,152
Commerce Bancshares, Inc.		620		23,281
Cullen/Frost Bankers, Inc.		404		23,792
East West Bancorp, Inc.		1,032		24,200
Fifth Third Bancorp		1,478		24,077
First Citizens BancShares Inc. - Class A		141		24,585
First Horizon National Corp.		2,206		22,523
First Niagara Financial Group, Inc.		2,820		22,109
First Republic Bank		666		23,770
Fulton Financial Corp.		2,257		24,579
Huntington Bancshares, Inc.		3,474		24,179
KeyCorp		2,616		24,590
M&T Bank Corp.		221		22,695
PNC Financial Services Group, Inc.		375		23,175
Popular, Inc.*		1,072		28,772
Regions Financial Corp.		3,165		24,624
Signature Bank*		314		23,214
SunTrust Banks, Inc.		783		22,214
SVB Financial Group*		395		26,216
Synovus Financial Corp.(a)		9,031		23,300
TCF Financial Corp.		1,818		24,834
US Bancorp		684		22,640
Valley National Bancorp(a)		2,333		22,840
Wells Fargo & Co.		639		22,256
Zions Bancorp		1,032		24,066
Total Commercial Banks				788,928

	Shares		Value
Commercial Services & Supplies 1.4%
ADT Corp.(The)		772	$	36,670
Avery Dennison Corp.		1,017		39,165
Cintas Corp.		828		34,991
Clean Harbors, Inc.*		671		37,301
Copart, Inc.*		1,158		41,584
Corrections Corp. of America		1,001		37,928
Covanta Holding Corp.		1,927		38,001
Iron Mountain, Inc.		1,129		38,623
KAR Auction Services, Inc.		1,533		32,699
Pitney Bowes, Inc.(a)		3,164		45,593
R.R. Donnelley & Sons Co.(a)		3,918		36,046
Republic Services, Inc.		1,188		37,885
Rollins, Inc.		1,556		38,464
Stericycle, Inc.*		375		35,381
Tyco International Ltd.		1,204		36,397
Waste Connections, Inc.		1,070		38,541
Waste Management, Inc.		1,042		37,908
Total Commercial Services & Supplies				643,177
Communications Equipment 1.2%
Acme Packet, Inc.*		1,825		44,110
Brocade Communications Systems, Inc.*		7,511		42,963
Cisco Systems, Inc.		2,022		41,593
EchoStar Corp. - Class A*		1,200		43,656
F5 Networks, Inc.*		424		44,469
Harris Corp.		829		38,300
JDS Uniphase Corp.*		3,126		45,358
Juniper Networks, Inc.*		2,037		45,588
Motorola Solutions, Inc.		751		43,851
Palo Alto Networks, Inc.*		794		43,956
Polycom, Inc.*		3,840		42,355
QUALCOMM, Inc.		650		42,919
Riverbed Technology, Inc.*		2,127		41,264
Total Communications Equipment				560,382
Computers & Peripherals 1.1%
Apple, Inc.		77		35,059
Dell, Inc.		3,905		51,702
Diebold, Inc.		1,343		39,538
EMC Corp.*		1,595		39,253
Fusion-io, Inc.*(a)		1,714		29,961
Hewlett-Packard Co.		2,839		46,872
Lexmark International, Inc. - Class A(a)		1,480		35,609
NCR Corp.*		1,630		45,265
NetApp, Inc.*		1,202		43,272
SanDisk Corp.*		940		46,990
Stratasys Ltd.*(a)		548		43,007
Western Digital Corp.		1,040		48,880
Total Computers & Peripherals				505,408
Construction & Engineering 0.7%
Aecom Technology Corp.*		1,455		37,204
Chicago Bridge & Iron Co. NV		828		42,071
Fluor Corp.		595		38,574
Jacobs Engineering Group, Inc.*		823		39,594
KBR, Inc.		1,148		35,841
Quanta Services, Inc.*		1,279		37,053
Shaw Group, Inc.(The)*		770		36,436
URS Corp.		881		36,544
Total Construction & Engineering				303,317
Construction Materials 0.3%
Martin Marietta Materials, Inc.		689		68,025

2

GUGGENHEIM RUSSELL 1000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Vulcan Materials Co.		1,229	$	69,512
Total Construction Materials				137,537
Consumer Finance 0.2%
American Express Co.		384		22,583
Capital One Financial Corp.		373		21,007
Discover Financial Services		550		21,115
SLM Corp.		1,296		21,889
Total Consumer Finance				86,594
Containers & Packaging 1.6%
AptarGroup, Inc.		1,375		70,854
Ball Corp.		1,479		65,845
Bemis Co., Inc.		1,975		70,468
Crown Holdings, Inc.*		1,751		66,293
Greif, Inc. - Class A		1,471		69,107
Owens-Illinois, Inc.*		3,149		74,946
Packaging Corp. of America		1,754		67,406
Rock Tenn Co. - Class A		942		74,371
Sealed Air Corp.		3,929		73,551
Silgan Holdings, Inc.		1,530		65,637
Sonoco Products Co.		2,216		68,674
Total Containers & Packaging				767,152
Distributors 0.1%
Genuine Parts Co.		466		31,702
LKQ Corp.*		1,414		31,659
Total Distributors				63,361
Diversified Consumer Services 0.4%
Apollo Group, Inc. - Class A*		1,334		26,973
DeVry, Inc.		1,165		29,323
H&R Block, Inc.		1,541		35,089
ITT Educational Services, Inc.*(a)		1,474		24,822
Service Corp. International		2,042		30,487
Weight Watchers International, Inc.		555		29,676
Total Diversified Consumer Services				176,370
Diversified Financial Services 0.6%
Bank of America Corp.		1,966		22,255
CBOE Holdings, Inc.		740		25,071
Citigroup, Inc.		566		23,863
CME Group, Inc.		425		24,582
Interactive Brokers Group, Inc. - Class A		1,493		21,350
IntercontinentalExchange, Inc.*		174		24,142
JPMorgan Chase & Co.		507		23,854
Leucadia National Corp.		920		23,414
Moody’s Corp.		440		24,121
MSCI, Inc. - Class A*		720		24,293
NASDAQ OMX Group, Inc.(The)		883		25,007
NYSE Euronext		935		32,323
Total Diversified Financial Services				294,275
Diversified Telecommunication Services 1.2%
AT&T, Inc.		2,343		81,513
CenturyLink, Inc.		2,003		81,021
Frontier Communications Corp.(a)		17,375		79,404
Level 3 Communications, Inc.*		3,499		83,346
tw telecom, Inc.*		3,165		87,449
Verizon Communications, Inc.		1,833		79,937
Windstream Corp.		8,989		87,553
Total Diversified Telecommunication Services				580,223
Electric Utilities 3.4%
American Electric Power Co., Inc.		1,831		82,926
Duke Energy Corp.		1,227		84,344
Edison International		1,759		84,766

	Shares		Value
Entergy Corp.		1,230	$	79,458
Exelon Corp.		2,626		82,561
FirstEnergy Corp.		1,939		78,510
Great Plains Energy, Inc.		3,885		83,139
Hawaiian Electric Industries, Inc.		3,151		84,982
ITC Holdings Corp.		1,026		83,106
NextEra Energy, Inc.		1,134		81,705
Northeast Utilities		2,027		82,560
NV Energy, Inc.		4,348		82,308
OGE Energy Corp.		1,415		83,075
Pepco Holdings, Inc.		4,048		79,017
Pinnacle West Capital Corp.		1,544		82,419
PPL Corp.		2,731		82,722
Southern Co.(The)		1,833		81,073
Westar Energy, Inc.		2,768		83,234
Xcel Energy, Inc.		2,913		80,923
Total Electric Utilities				1,562,828
Electrical Equipment 0.9%
AMETEK, Inc.		935		38,326
Babcock & Wilcox Co.(The)		1,360		36,230
Eaton Corp. PLC		654		37,245
Emerson Electric Co.		666		38,128
General Cable Corp.*		1,166		39,201
GrafTech International, Ltd.*		3,918		37,613
Hubbell, Inc. - Class B		423		38,514
Polypore International, Inc.*		1,452		56,033
Regal-Beloit Corp.		499		37,006
Rockwell Automation, Inc.		419		37,371
Roper Industries, Inc.		318		37,349
Total Electrical Equipment				433,016
Electronic Equipment, Instruments & Components 1.4%
Amphenol Corp. - Class A		639		43,177
Arrow Electronics, Inc.*		1,066		40,956
Avnet, Inc.*		1,315		46,498
AVX Corp.		3,821		43,521
Corning, Inc.		3,174		38,088
Dolby Laboratories, Inc. - Class A		1,167		37,706
FLIR Systems, Inc.		1,653		39,292
Ingram Micro, Inc. - Class A*		2,429		44,159
IPG Photonics Corp.(a)		644		42,169
Itron, Inc.*		781		36,231
Jabil Circuit, Inc.		2,241		42,377
Molex, Inc.		1,513		41,093
National Instruments Corp.		1,363		38,709
Tech Data Corp.*		908		46,226
Trimble Navigation, Ltd.*		599		37,438
Vishay Intertechnology, Inc.*		4,009		44,059
Total Electronic Equipment, Instruments & Components				661,699
Energy Equipment & Services 3.6%
Atwood Oceanics, Inc.*		1,506		79,472
Baker Hughes, Inc.		1,672		74,772
Cameron International Corp.*		1,232		77,998
CARBO Ceramics, Inc.		860		68,895
Diamond Offshore Drilling, Inc.		1,016		76,291
Dresser-Rand Group, Inc.*		1,276		77,900
FMC Technologies, Inc.*		1,658		78,506
Halliburton Co.		2,015		81,970
Helmerich & Payne, Inc.		1,247		80,232
McDermott International, Inc.*		6,401		77,900
Nabors Industries Ltd.*		4,833		80,566
National Oilwell Varco, Inc.		1,021		75,697
Oceaneering International, Inc.		1,307		82,615

3

GUGGENHEIM RUSSELL 1000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Oil States International, Inc.*		1,000	$	77,580
Patterson-UTI Energy, Inc.		3,734		75,950
Rowan Cos., PLC - Class A*		2,173		74,925
RPC, Inc.(a)		5,703		85,374
Schlumberger Ltd.		981		76,567
SEACOR Holdings, Inc.		845		76,870
Superior Energy Services, Inc.*		3,298		82,351
Tidewater, Inc.		757		37,222
Unit Corp.*		1,509		72,628
Total Energy Equipment & Services				1,672,281
Food & Staples Retailing 1.6%
Costco Wholesale Corp.		296		30,293
CVS Caremark Corp.		1,995		102,144
Fresh Market, Inc.(The)*		1,933		94,504
Kroger Co.(The)		3,669		101,631
Safeway, Inc.(a)		5,382		103,604
Sysco Corp.		3,044		96,708
Wal-Mart Stores, Inc.		425		29,729
Walgreen Co.		2,614		104,455
Whole Foods Market, Inc.		1,071		103,084
Total Food & Staples Retailing				766,152
Food Products 4.7%
Archer-Daniels-Midland Co.		3,495		99,712
Bunge Ltd.		1,347		107,302
Campbell Soup Co.(a)		2,707		99,374
ConAgra Foods, Inc.		3,248		106,177
Dean Foods Co.*		5,951		108,963
Flowers Foods, Inc.		4,097		110,127
General Mills, Inc.		2,349		98,517
Green Mountain Coffee Roasters, Inc.*(a)		2,394		108,999
H.J. Heinz Co.		1,646		99,797
Hershey Co.(The)		1,324		105,192
Hillshire Brands Co.		3,455		107,036
Hormel Foods Corp.		3,113		107,741
Ingredion, Inc.		1,503		99,303
J.M. Smucker Co.(The)		1,124		99,620
Kellogg Co.		1,734		101,439
Kraft Foods Group, Inc.		2,108		97,432
McCormick & Co., Inc.		1,502		93,650
Mead Johnson Nutrition Co.		1,481		112,556
Mondelez International, Inc. - Class A		3,794		105,435
Smithfield Foods, Inc.*		4,438		103,450
Tyson Foods, Inc. - Class A		4,960		109,715
WhiteWave Foods Co. - Class A*(a)		1,464		23,702
Total Food Products				2,205,239
Gas Utilities 1.1%
AGL Resources, Inc.		2,001		83,642
Atmos Energy Corp.		2,228		83,238
National Fuel Gas Co.		1,509		82,090
Oneok, Inc.		1,848		86,874
Questar Corp.		4,073		94,616
UGI Corp.		2,471		87,078
Total Gas Utilities				517,538
Health Care Equipment & Supplies 2.9%
Abbott Laboratories		808		27,375
Alere, Inc.*		2,776		59,018
Baxter International, Inc.		797		54,068
Becton, Dickinson and Co.		676		56,811
Boston Scientific Corp.*		9,213		68,821
C.R. Bard, Inc.		547		55,832
CareFusion Corp.*		1,876		58,231
Cooper Cos., Inc.(The)		561		56,857

	Shares		Value
Covidien PLC		919	$	57,290
DENTSPLY International, Inc.		1,318		55,040
Edwards Lifesciences Corp.*		579		52,069
Hill-Rom Holdings, Inc.		1,851		61,416
Hologic, Inc.*		2,607		62,151
IDEXX Laboratories, Inc.*		555		52,842
Intuitive Surgical, Inc.*		98		56,289
Medtronic, Inc.		1,246		58,064
ResMed, Inc.		1,247		54,619
Sirona Dental Systems, Inc.*		847		56,300
St Jude Medical, Inc.		1,478		60,155
Stryker Corp.		947		59,330
Teleflex, Inc.		757		56,775
Thoratec Corp.*		1,393		50,886
Varian Medical Systems, Inc.*		739		52,210
Zimmer Holdings, Inc.		776		57,890
Total Health Care Equipment & Supplies				1,340,339
Health Care Providers & Services 3.3%
Aetna, Inc.		1,147		55,320
AmerisourceBergen Corp.		1,216		55,170
Brookdale Senior Living, Inc.*		2,127		57,450
Cardinal Health, Inc.		1,250		54,762
Catamaran Corp.*		1,063		55,159
CIGNA Corp.		978		57,057
Community Health Systems, Inc.		1,695		64,969
Coventry Health Care, Inc.		1,191		54,584
DaVita, Inc.*		481		55,512
Express Scripts Holding Co.*		965		51,550
HCA Holdings, Inc.		1,679		63,214
Health Management Associates, Inc. - Class A*		6,224		64,979
Health Net, Inc.*		2,078		56,522
Henry Schein, Inc.*		649		56,035
Humana, Inc.		780		58,001
Laboratory Corp. of America Holdings*		605		54,147
LifePoint Hospitals, Inc.*		1,390		60,757
McKesson Corp.		534		56,193
Mednax, Inc.*		658		56,298
Omnicare, Inc.		1,470		57,256
Patterson Cos., Inc.		1,569		56,688
Quest Diagnostics, Inc.		880		50,996
Tenet Healthcare Corp.*		1,643		63,798
UnitedHealth Group, Inc.		971		53,609
Universal Health Services, Inc. - Class B		1,107		62,700
VCA Antech, Inc.*		2,571		55,534
WellPoint, Inc.		880		57,042
Total Health Care Providers & Services				1,545,302
Health Care Technology 0.2%
Allscripts Healthcare Solutions, Inc.*		4,962		54,979
Cerner Corp.*		668		55,143
Total Health Care Technology				110,122
Hotels, Restaurants & Leisure 1.5%
Bally Technologies, Inc.*		645		31,063
Brinker International, Inc.		933		30,547
Carnival Corp.		752		29,118
Chipotle Mexican Grill, Inc.*		101		31,008
Choice Hotels International, Inc.		885		31,895
Darden Restaurants, Inc.		626		29,109
Dunkin’ Brands Group, Inc.		900		32,859
Hyatt Hotels Corp. - Class A*		790		31,655
International Game Technology		2,027		31,155
Las Vegas Sands Corp.		630		34,808
Marriott International, Inc. - Class A		791		31,624

4

GUGGENHEIM RUSSELL 1000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
McDonald’s Corp.		326	$	31,065
MGM Resorts International*		2,542		32,461
Panera Bread Co. - Class A*		178		28,446
Penn National Gaming, Inc.*		598		29,099
Royal Caribbean Cruises Ltd.		831		30,082
Starbucks Corp.		545		30,585
Starwood Hotels & Resorts Worldwide, Inc.		526		32,302
Wendy’s Co.(The)		6,159		31,657
Wyndham Worldwide Corp.		558		31,131
Wynn Resorts Ltd.		258		32,307
Yum! Brands, Inc.		428		27,794
Total Hotels, Restaurants & Leisure				681,770
Household Durables 1.0%
DR Horton, Inc.		1,472		34,827
Garmin Ltd.(a)		694		26,296
Harman International Industries, Inc.		680		30,450
Jarden Corp.*		589		34,657
Leggett & Platt, Inc.		1,081		31,825
Lennar Corp. - Class A		745		30,947
Mohawk Industries, Inc.*		348		35,378
Newell Rubbermaid, Inc.		1,349		31,674
NVR, Inc.*		30		30,890
PulteGroup, Inc.*		1,590		32,977
Tempur-Pedic International, Inc.*		933		36,350
Toll Brothers, Inc.*		908		34,004
Tupperware Brands Corp.		450		34,290
Whirlpool Corp.		289		33,345
Total Household Durables				457,910
Household Products 1.3%
Church & Dwight Co., Inc.		1,819		105,120
Clorox Co.(The)		1,282		100,522
Colgate-Palmolive Co.		916		98,351
Energizer Holdings, Inc.		1,214		105,630
Kimberly-Clark Corp.		1,140		102,041
Procter & Gamble Co.(The)		1,402		105,374
Total Household Products				617,038
Independent Power Producers & Energy Traders 0.5%
AES Corp.(The)		7,281		78,926
Calpine Corp.*		4,471		88,213
NRG Energy, Inc.		3,481		83,544
Total Independent Power Producers & Energy Traders				250,683
Industrial Conglomerates 0.3%
3M Co.		376		37,807
Carlisle Cos., Inc.		602		38,618
Danaher Corp.		626		37,516
General Electric Co.		1,627		36,250
Total Industrial Conglomerates				150,191
Insurance 2.7%
ACE Ltd.		274		23,380
AFLAC, Inc.		407		21,595
Alleghany Corp.*		68		24,520
Allied World Assurance Co. Holdings AG		282		23,922
Allstate Corp.(The)		541		23,750
American Financial Group, Inc.		564		24,004
American International Group, Inc.*		628		23,757
American National Insurance Co.		324		25,016
Aon PLC		393		22,692
Arch Capital Group Ltd.*		508		23,581
Arthur J. Gallagher & Co.		632		23,352

	Shares		Value
Aspen Insurance Holdings Ltd.		700	$	23,877
Assurant, Inc.		627		23,976
Assured Guaranty Ltd.		1,526		27,666
Axis Capital Holdings Ltd.		636		24,340
Berkshire Hathaway, Inc. - Class B*		247		23,942
Brown & Brown, Inc.		849		23,212
Chubb Corp.(The)		290		23,290
Cincinnati Financial Corp.		555		23,554
CNA Financial Corp.		782		24,359
Endurance Specialty Holdings Ltd.		566		24,293
Erie Indemnity Co. - Class A		327		23,328
Everest Re Group Ltd.		208		24,088
Fidelity National Financial, Inc. - Class A		957		24,021
Genworth Financial, Inc. - Class A*		3,036		27,840
Hanover Insurance Group, Inc.(The)		581		24,146
Hartford Financial Services Group, Inc.		992		24,602
HCC Insurance Holdings, Inc.		597		23,092
Kemper Corp.		748		24,916
Lincoln National Corp.		844		24,459
Loews Corp.		534		23,160
Markel Corp.*		46		21,902
Marsh & McLennan Cos., Inc.		645		22,885
MBIA, Inc.*		2,765		23,807
Mercury General Corp.		526		20,830
MetLife, Inc.		673		25,130
Old Republic International Corp.		2,066		23,552
PartnerRe Ltd.		273		23,939
Principal Financial Group, Inc.		777		24,095
ProAssurance Corp.		519		23,376
Progressive Corp.(The)		1,041		23,412
Protective Life Corp.		769		24,331
Prudential Financial, Inc.		420		24,310
Reinsurance Group of America, Inc.		418		23,989
RenaissanceRe Holdings Ltd.		280		23,979
StanCorp Financial Group, Inc.		616		23,956
Torchmark Corp.		429		23,900
Travelers Cos., Inc.(The)		300		23,538
Unum Group		1,049		24,452
Validus Holdings Ltd.		650		23,667
W.R. Berkley Corp.		572		23,549
White Mountains Insurance Group Ltd.		44		24,229
XL Group PLC		890		24,671
Total Insurance				1,267,229
Internet & Catalog Retail 0.7%
Amazon.com, Inc.*		115		30,533
Expedia, Inc.		481		31,385
Groupon, Inc.*(a)		8,215		45,183
HomeAway, Inc.*		1,394		33,414
Liberty Interactive Corp. - Series A*		1,503		31,954
Liberty Ventures*		461		34,404
Netflix, Inc.*		308		50,894
priceline.com, Inc.*		47		32,217
TripAdvisor, Inc.*		689		31,887
Total Internet & Catalog Retail				321,871
Internet Software & Services 1.0%
Akamai Technologies, Inc.*		1,006		40,954
AOL, Inc.*		1,337		40,979
eBay, Inc.*		570		31,880
Equinix, Inc.*		203		43,732
Facebook, Inc. - Class A*		1,488		46,083
Google, Inc. - Class A*		56		42,319
IAC/InterActiveCorp		882		36,383
LinkedIn Corp. - Class A*		356		44,069
Rackspace Hosting, Inc.*		570		42,950

5

GUGGENHEIM RUSSELL 1000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
VeriSign, Inc.*		1,117	$	48,489
Yahoo!, Inc.*		2,101		41,243
Total Internet Software & Services				459,081
IT Services 2.0%
Accenture PLC - Class A		497		35,729
Alliance Data Systems Corp.*		153		24,113
Amdocs Ltd.		1,179		42,078
Automatic Data Processing, Inc.		605		35,870
Booz Allen Hamilton Holding Corp.		2,474		34,290
Broadridge Financial Solutions, Inc.		949		22,368
Cognizant Technology Solutions Corp. - Class A*		555		43,390
Computer Sciences Corp.		1,025		42,845
CoreLogic, Inc.*		797		20,913
DST Systems, Inc.		665		44,515
Fidelity National Information Services, Inc.		633		23,491
Fiserv, Inc.*		275		22,085
FleetCor Technologies, Inc.*		432		25,851
Gartner, Inc.*		890		45,844
Genpact Ltd.		2,199		36,833
Global Payments, Inc.		491		24,187
International Business Machines Corp.		209		42,442
Jack Henry & Associates, Inc.		564		23,395
Lender Processing Services, Inc.		869		20,891
Mastercard, Inc. - Class A		46		23,846
NeuStar, Inc. - Class A*		954		43,063
Paychex, Inc.		1,066		34,784
SAIC, Inc.		3,497		42,314
Teradata Corp.*		656		43,729
Total System Services, Inc.		1,004		23,343
Vantiv, Inc. - Class A*		1,065		22,173
VeriFone Systems, Inc.*		1,421		49,337
Visa, Inc. - Class A		148		23,371
Western Union Co.(The)		1,664		23,679
Total IT Services				940,769
Leisure Equipment & Products 0.2%
Hasbro, Inc.(a)		804		30,046
Mattel, Inc.		789		29,690
Polaris Industries, Inc.		357		31,091
Total Leisure Equipment & Products				90,827
Life Sciences Tools & Services 1.5%
Agilent Technologies, Inc.		852		38,153
Bio-Rad Laboratories, Inc. - Class A*		498		56,667
Bruker Corp.*		3,432		57,898
Charles River Laboratories International, Inc.*		1,401		57,889
Covance, Inc.*		905		60,372
Illumina, Inc.*(a)		1,028		52,048
Life Technologies Corp.*		1,029		66,566
Mettler-Toledo International, Inc.*		181		38,468
PerkinElmer, Inc.		1,651		58,181
QIAGEN NV*		2,945		61,845
Techne Corp.		773		55,409
Thermo Fisher Scientific, Inc.		818		59,010
Waters Corp.*		396		36,262
Total Life Sciences Tools & Services				698,768
Machinery 3.3%
AGCO Corp.*		716		37,948
Caterpillar, Inc.		390		38,372
CNH Global NV		879		41,964
Colfax Corp.*		904		40,328

	Shares		Value
Crane Co.		790	$	39,721
Cummins, Inc.		325		37,320
Deere & Co.		406		38,188
Donaldson Co., Inc.		1,051		39,528
Dover Corp.		541		37,426
Flowserve Corp.		245		38,409
Gardner Denver, Inc.		479		33,707
Graco, Inc.		672		38,438
Harsco Corp.		1,543		39,331
IDEX Corp.		768		38,316
Illinois Tool Works, Inc.		572		35,939
Ingersoll-Rand PLC		731		37,566
ITT Corp.		1,530		39,290
Joy Global, Inc.		567		35,817
Kennametal, Inc.		854		35,023
Lincoln Electric Holdings, Inc.		726		39,153
Manitowoc Co., Inc.(The)		2,231		39,266
Navistar International Corp.*		1,545		40,309
Nordson Corp.		570		38,543
Oshkosh Corp.*		1,176		46,076
PACCAR, Inc.		784		36,895
Pall Corp.		577		39,409
Parker Hannifin Corp.		406		37,746
Pentair Ltd.		718		36,388
Snap-on, Inc.		371		30,058
SPX Corp.		554		41,345
Stanley Black & Decker, Inc.		474		36,418
Terex Corp.*		1,298		42,029
Timken Co.		1,371		73,499
Toro Co.(The)		818		36,017
Trinity Industries, Inc.		979		38,866
Valmont Industries, Inc.		479		69,800
WABCO Holdings, Inc.*		471		29,513
Wabtec Corp.		398		37,261
Xylem, Inc.		1,298		36,253
Total Machinery				1,547,475
Marine 0.2%
Kirby Corp.*		582		41,118
Matson, Inc.		1,429		39,169
Total Marine				80,287
Media 2.2%
AMC Networks, Inc. - Class A*		582		33,157
Cablevision Systems Corp. - Class A		1,964		28,753
CBS Corp. - Class B		813		33,918
Charter Communications, Inc. - Class A*		399		31,110
Cinemark Holdings, Inc.		1,127		31,714
Clear Channel Outdoor Holdings, Inc. - Class A*		4,135		31,012
Comcast Corp. - Class A		777		29,588
DIRECTV*		571		29,201
Discovery Communications, Inc. - Class A*		466		32,331
DISH Network Corp. - Class A		826		30,785
DreamWorks Animation SKG, Inc. - Class A*(a)		1,767		30,763
Gannett Co., Inc.		1,584		31,094
Interpublic Group of Cos., Inc.(The)		2,629		31,837
John Wiley & Sons, Inc. - Class A		795		30,449
Lamar Advertising Co. - Class A*		744		31,724
Liberty Global, Inc. - Class A*		472		32,233
Liberty Media Corp. - Liberty Capital - Series A*		256		28,547
Madison Square Garden Co.(The) - Class A*		659		34,281

6

GUGGENHEIM RUSSELL 1000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
McGraw-Hill Cos., Inc.(The)		543	$	31,233
Morningstar, Inc.		347		23,488
News Corp. - Class A		1,159		32,151
Omnicom Group, Inc.		584		31,700
Pandora Media, Inc.*(a)		3,220		37,094
Regal Entertainment Group - Class A(a)		2,143		31,995
Scripps Networks Interactive, Inc. - Class A		499		30,823
Sirius XM Radio, Inc.		9,987		31,359
Starz - Liberty Capital*		256		4,081
Thomson Reuters Corp.		768		23,532
Time Warner Cable, Inc.		306		27,338
Time Warner, Inc.		615		31,070
Viacom, Inc. - Class B		549		33,132
Virgin Media, Inc.		810		31,906
Walt Disney Co.(The)		590		31,789
Washington Post Co.(The) - Class B		79		30,469
Total Media				1,025,657
Metals & Mining 2.5%
Alcoa, Inc.		7,344		64,921
Allegheny Technologies, Inc.		2,196		69,503
Allied Nevada Gold Corp.*		2,180		51,644
Carpenter Technology Corp.		1,263		66,093
Cliffs Natural Resources, Inc.(a)		1,852		69,098
Commercial Metals Co.		4,363		72,644
Compass Minerals International, Inc.		865		62,323
Freeport-McMoRan Copper & Gold, Inc.		1,925		67,856
Molycorp, Inc.*(a)		6,415		47,343
Newmont Mining Corp.		1,475		63,366
Nucor Corp.		1,499		68,969
Reliance Steel & Aluminum Co.		1,073		69,445
Royal Gold, Inc.		823		61,453
Southern Copper Corp.		1,703		67,081
Steel Dynamics, Inc.		4,623		70,316
Tahoe Resources, Inc.*		3,666		59,023
United States Steel Corp.(a)		2,676		59,809
Walter Energy, Inc.		1,937		72,734
Total Metals & Mining				1,163,621
Multi-Utilities 3.0%
Alliant Energy Corp.		1,788		81,962
Ameren Corp.		2,657		86,193
CenterPoint Energy, Inc.		4,043		82,639
CMS Energy Corp.		3,272		84,090
Consolidated Edison, Inc.		1,406		79,973
Dominion Resources, Inc.		1,541		83,384
DTE Energy Co.		1,313		83,126
Integrys Energy Group, Inc.		1,477		80,777
MDU Resources Group, Inc.		3,698		86,237
NiSource, Inc.		3,264		88,226
PG&E Corp.		1,944		82,892
Public Service Enterprise Group, Inc.		2,597		80,975
SCANA Corp.		1,717		80,373
Sempra Energy		1,106		83,005
TECO Energy, Inc.		4,754		84,479
Vectren Corp.		2,675		84,423
Wisconsin Energy Corp.		2,118		83,513
Total Multi-Utilities				1,416,267
Multiline Retail 0.7%
Big Lots, Inc.*		1,023		32,889
Dillard’s, Inc. - Class A		353		29,797
Dollar General Corp.*		669		30,921
Dollar Tree, Inc.*		733		29,313
Family Dollar Stores, Inc.		450		25,515

	Shares		Value
J.C. Penney Co., Inc.(a)		1,466	$	29,804
Kohl’s Corp.		668		30,922
Macy’s, Inc.		755		29,830
Nordstrom, Inc.		565		31,205
Sears Holdings Corp.*(a)		668		31,362
Target Corp.		475		28,695
Total Multiline Retail				330,253
Office Electronics 0.2%
Xerox Corp.		4,959		39,722
Zebra Technologies Corp. - Class A*		883		38,216
Total Office Electronics				77,938
Oil, Gas & Consumable Fuels 7.9%
Alpha Natural Resources, Inc.*		7,088		62,800
Anadarko Petroleum Corp.		921		73,698
Apache Corp.		874		73,206
Cabot Oil & Gas Corp.		1,440		76,003
Cheniere Energy, Inc.*		3,903		82,861
Chesapeake Energy Corp.		4,064		82,012
Chevron Corp.		638		73,466
Cimarex Energy Co.		1,191		76,057
Cobalt International Energy, Inc.*		2,724		65,948
Concho Resources, Inc.*		839		76,534
ConocoPhillips		1,181		68,498
CONSOL Energy, Inc.		2,045		64,090
Continental Resources, Inc.*		936		77,800
Denbury Resources, Inc.*		4,277		79,681
Devon Energy Corp.		1,295		74,061
Energen Corp.		1,775		85,449
EOG Resources, Inc.		567		70,864
EQT Corp.		1,203		71,470
EXCO Resources, Inc.		9,153		58,671
Exxon Mobil Corp.		782		70,357
Golar LNG Ltd.		1,846		75,778
Hess Corp.		1,297		87,107
HollyFrontier Corp.		1,504		78,539
Kinder Morgan, Inc.		1,988		74,470
Kosmos Energy Ltd.*		5,761		71,321
Laredo Petroleum Holdings, Inc.*		3,849		71,014
Marathon Oil Corp.		2,242		75,354
Marathon Petroleum Corp.		1,114		82,670
Murphy Oil Corp.		1,142		67,972
Newfield Exploration Co.*		2,582		76,169
Noble Energy, Inc.		681		73,405
Occidental Petroleum Corp.		894		78,913
Peabody Energy Corp.		2,562		64,434
Phillips 66		1,319		79,892
Pioneer Natural Resources Co.		650		76,401
Plains Exploration & Production Co.*		1,515		72,341
QEP Resources, Inc.		2,264		66,448
Range Resources Corp.		1,089		73,148
SandRidge Energy, Inc.*(a)		10,818		76,591
SM Energy Co.		1,365		79,388
Southwestern Energy Co.*		2,066		70,864
Spectra Energy Corp.		2,533		70,367
Teekay Corp.		1,106		38,909
Tesoro Corp.		1,568		76,346
Ultra Petroleum Corp.*(a)		3,491		63,606
Valero Energy Corp.		2,047		89,515
Whiting Petroleum Corp.*		1,613		76,747
Williams Cos., Inc.(The)		2,166		75,918
World Fuel Services Corp.		1,701		73,330
WPX Energy, Inc.*		4,445		66,808
Total Oil, Gas & Consumable Fuels				3,667,291

7

GUGGENHEIM RUSSELL 1000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Paper & Forest Products 0.4%
Domtar Corp.		795	$	66,168
International Paper Co.		1,679		69,544
MeadWestvaco Corp.		2,100		65,835
Total Paper & Forest Products				201,547
Personal Products 0.4%
Avon Products, Inc.		2,038		34,605
Estee Lauder Cos., Inc.(The) - Class A		484		29,490
Herbalife Ltd.(a)		2,311		83,936
Nu Skin Enterprises, Inc. - Class A		647		27,407
Total Personal Products				175,438
Pharmaceuticals 1.8%
AbbVie, Inc.		808		29,646
Actavis, Inc.*		595		51,402
Allergan, Inc.		572		60,066
Bristol-Myers Squibb Co.		1,616		58,402
Eli Lilly & Co.		1,077		57,824
Endo Health Solutions, Inc.*		2,037		64,491
Forest Laboratories, Inc.*		1,481		53,760
Hospira, Inc.*		1,662		56,708
Johnson & Johnson		751		55,514
Merck & Co., Inc.		1,205		52,116
Mylan, Inc.*		1,882		53,204
Perrigo Co.		515		51,763
Pfizer, Inc.		2,079		56,715
Salix Pharmaceuticals Ltd.*		1,263		60,498
Warner Chilcott PLC - Class A		4,584		64,955
Total Pharmaceuticals				827,064
Professional Services 0.6%
Dun & Bradstreet Corp.(The)		268		21,853
Equifax, Inc.		405		23,774
IHS, Inc. - Class A*		380		39,102
Manpower, Inc.		826		42,539
Nielsen Holdings NV*		955		31,047
Robert Half International, Inc.		1,158		40,808
Towers Watson & Co. - Class A		604		36,892
Verisk Analytics, Inc. - Class A*		702		38,722
Total Professional Services				274,737
Real Estate Investment Trusts (REITs) 3.0%
Alexandria Real Estate Equities, Inc.		320		23,200
American Campus Communities, Inc.		491		22,866
American Capital Agency Corp.		717		22,679
American Tower Corp.		292		22,236
Annaly Capital Management, Inc.		1,564		23,257
Apartment Investment & Management Co. - Class A		854		23,297
AvalonBay Communities, Inc.		168		21,805
BioMed Realty Trust, Inc.		1,174		23,891
Boston Properties, Inc.		210		22,109
Brandywine Realty Trust		1,870		23,805
BRE Properties, Inc.		454		23,099
Camden Property Trust		333		23,107
CBL & Associates Properties, Inc.		1,046		22,478
Chimera Investment Corp.		8,385		25,574
CommonWealth REIT		1,399		22,999
Corporate Office Properties Trust		897		23,735
DDR Corp.		1,439		23,873
Digital Realty Trust, Inc.		334		22,682
Douglas Emmett, Inc.		966		22,527
Duke Realty Corp.		1,613		24,856
Equity Lifestyle Properties, Inc.		333		23,843
Equity Residential		397		21,990

	Shares		Value
Essex Property Trust, Inc.		154	$	23,682
Extra Space Storage, Inc.		624		24,860
Federal Realty Investment Trust		214		22,652
General Growth Properties, Inc.		1,121		21,882
Hatteras Financial Corp.		873		23,641
HCP, Inc.		499		23,149
Health Care REIT, Inc.		376		23,628
Home Properties, Inc.		372		22,867
Hospitality Properties Trust		969		24,438
Host Hotels & Resorts, Inc.		1,423		23,892
Kilroy Realty Corp.		481		24,002
Kimco Realty Corp.		1,145		23,782
Liberty Property Trust		633		24,795
Macerich Co.(The)		383		22,873
Mack-Cali Realty Corp.		869		23,611
MFA Financial, Inc.		2,707		24,336
Mid-America Apartment Communities, Inc.		349		22,814
National Retail Properties, Inc.		725		23,214
Piedmont Office Realty Trust, Inc. - Class A		1,250		24,162
Plum Creek Timber Co., Inc.		503		24,234
Post Properties, Inc.		456		22,121
ProLogis, Inc.		623		24,858
Public Storage		154		23,705
Rayonier, Inc.		442		23,797
Realty Income Corp.		545		23,806
Regency Centers Corp.		477		23,769
Retail Properties of America, Inc. - Class A		1,858		24,042
Senior Housing Properties Trust		960		23,126
Simon Property Group, Inc.		143		22,906
SL Green Realty Corp.		290		23,310
Tanger Factory Outlet Centers, Inc.		664		23,519
Taubman Centers, Inc.		290		23,635
UDR, Inc.		964		23,030
Ventas, Inc.		349		23,135
Vornado Realty Trust		281		23,733
Weingarten Realty Investors		820		23,649
Weyerhaeuser Co.		790		23,795
Total Real Estate Investment Trusts (REITs)				1,382,358
Real Estate Management & Development 0.4%
Alexander & Baldwin, Inc.*		782		26,275
CBRE Group, Inc.*		1,093		23,587
Forest City Enterprises, Inc. - Class A*		1,365		23,082
Howard Hughes Corp.(The)*		299		21,528
Jones Lang LaSalle, Inc.		258		23,772
Realogy Holdings Corp.*		555		24,848
St Joe Co.(The)*		998		23,453
Total Real Estate Management & Development				166,545
Road & Rail 0.7%
Con-way, Inc.		1,265		39,696
CSX Corp.		1,745		38,442
Hertz Global Holdings, Inc.*		1,800		32,904
JB Hunt Transport Services, Inc.		603		40,564
Kansas City Southern		429		39,944
Landstar System, Inc.		706		40,270
Norfolk Southern Corp.		566		38,981
Ryder System, Inc.		694		39,405
Union Pacific Corp.		277		36,414
Total Road & Rail				346,620
Semiconductors & Semiconductor Equipment 2.6%
Advanced Micro Devices, Inc.*(a)		16,365		42,549

8

GUGGENHEIM RUSSELL 1000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Altera Corp.		1,208	$	40,371
Analog Devices, Inc.		977		42,636
Applied Materials, Inc.		3,689		47,625
Atmel Corp.*		6,783		45,446
Avago Technologies Ltd.		1,277		45,678
Broadcom Corp. - Class A		1,231		39,946
Cree, Inc.*		1,197		51,651
Cypress Semiconductor Corp.*		3,660		37,588
Fairchild Semiconductor International, Inc.*		2,830		41,799
Freescale Semiconductor Ltd.*		3,891		56,225
Intel Corp.		1,968		41,407
KLA-Tencor Corp.		863		47,387
Lam Research Corp.*		1,119		46,036
Linear Technology Corp.		1,200		43,944
LSI Corp.*		6,012		42,325
Marvell Technology Group Ltd.		4,785		44,261
Maxim Integrated Products, Inc.		1,379		43,370
Microchip Technology, Inc.		1,276		42,682
Micron Technology, Inc.*		6,156		46,539
NVIDIA Corp.		3,285		40,274
ON Semiconductor Corp.*		5,841		45,852
PMC - Sierra, Inc.*		7,824		45,223
Silicon Laboratories, Inc.*		966		42,156
Skyworks Solutions, Inc.*		1,953		46,755
Teradyne, Inc.*		2,460		39,754
Texas Instruments, Inc.		1,317		43,566
Xilinx, Inc.		1,147		41,854
Total Semiconductors & Semiconductor Equipment				1,234,899
Software 3.0%
Activision Blizzard, Inc.		3,713		42,291
Adobe Systems, Inc.*		1,099		41,575
ANSYS, Inc.*		596		43,866
Autodesk, Inc.*		1,153		44,829
BMC Software, Inc.*		990		41,134
CA, Inc.		1,841		45,694
Cadence Design Systems, Inc.*		3,074		42,821
Citrix Systems, Inc.*		614		44,920
Compuware Corp.*		3,809		44,261
Concur Technologies, Inc.*		604		40,408
Electronic Arts, Inc.*		2,766		43,509
Factset Research Systems, Inc.		243		22,482
Fortinet, Inc.*		1,932		45,576
Informatica Corp.*		1,350		49,963
Intuit, Inc.		666		41,545
MICROS Systems, Inc.*		1,004		46,214
Microsoft Corp.		1,496		41,095
NetSuite, Inc.*		623		43,753
Nuance Communications, Inc.*		1,797		43,218
Oracle Corp.		1,254		44,529
Red Hat, Inc.*		791		43,948
Rovi Corp.*		2,580		44,608
Salesforce.com, Inc.*		242		41,655
ServiceNow, Inc.*		1,265		35,066
Solarwinds, Inc.*		756		41,141
Solera Holdings, Inc.		769		42,149
Splunk, Inc.*		1,459		48,089
Symantec Corp.*		2,193		47,742
Synopsys, Inc.*		1,273		42,569
TIBCO Software, Inc.*		1,940		45,474
VMware, Inc. - Class A*		431		32,963
Workday, Inc. - Class A*		773		41,294
Zynga, Inc. - Class A*		17,254		46,758
Total Software				1,407,139

	Shares		Value
Specialty Retail 2.4%
Aaron’s, Inc.		1,042	$	30,895
Abercrombie & Fitch Co. - Class A		603		30,150
Advance Auto Parts, Inc.		405		29,776
American Eagle Outfitters, Inc.		1,404		28,375
Ascena Retail Group, Inc.*		1,546		26,205
AutoNation, Inc.*		748		36,278
AutoZone, Inc.*		81		29,946
Bed Bath & Beyond, Inc.*		491		28,822
Best Buy Co., Inc.		2,440		39,674
CarMax, Inc.*		843		33,231
Chico’s FAS, Inc.		1,569		28,132
Dick’s Sporting Goods, Inc.		639		30,410
DSW, Inc. - Class A		453		30,319
Foot Locker, Inc.		883		30,331
GameStop Corp. - Class A(a)		1,067		24,754
Gap, Inc.(The)		923		30,164
GNC Holdings, Inc. - Class A		2,802		100,704
Guess?, Inc.		1,152		31,208
Home Depot, Inc.		470		31,452
Limited Brands, Inc.		611		29,340
Lowe’s Cos., Inc.		825		31,507
O’Reilly Automotive, Inc.*		322		29,833
PetSmart, Inc.		416		27,211
Ross Stores, Inc.		544		32,477
Sally Beauty Holdings, Inc.*		1,251		33,201
Sears Hometown and Outlet Stores, Inc.*		985		38,563
Signet Jewelers Ltd.		523		32,729
Staples, Inc.		2,449		33,012
Tiffany & Co.		494		32,480
TJX Cos., Inc.		676		30,542
Tractor Supply Co.		341		35,351
Ulta Salon Cosmetics & Fragrance, Inc.		302		29,542
Urban Outfitters, Inc.*		745		31,879
Williams-Sonoma, Inc.		660		29,040
Total Specialty Retail				1,127,533
Textiles, Apparel & Luxury Goods 0.7%
Carter’s, Inc.*		552		33,247
Coach, Inc.		501		25,551
Deckers Outdoor Corp.*(a)		793		31,680
Fossil, Inc.*		315		33,258
Hanesbrands, Inc.*		809		30,321
Michael Kors Holdings Ltd.*		553		31,040
NIKE, Inc. - Class B		598		32,322
PVH Corp.		265		31,501
Ralph Lauren Corp.		194		32,297
Under Armour, Inc. - Class A*		594		30,217
V.F. Corp.		195		28,778
Total Textiles, Apparel & Luxury Goods				340,212
Thrifts & Mortgage Finance 0.3%
Capitol Federal Financial, Inc.		1,825		21,444
Hudson City Bancorp, Inc.		2,707		23,145
New York Community Bancorp, Inc.		1,678		22,401
People’s United Financial, Inc.		1,799		22,146
TFS Financial Corp.*		2,557		26,158
Washington Federal, Inc.		1,366		24,028
Total Thrifts & Mortgage Finance				139,322
Tobacco 0.9%
Altria Group, Inc.		3,012		101,444
Lorillard, Inc.		2,538		99,160
Philip Morris International, Inc.		1,134		99,973

9

GUGGENHEIM RUSSELL 1000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (concluded)	January 31, 2013

	Shares		Value
Reynolds American, Inc.		2,341	$	102,957
Total Tobacco				403,534
Trading Companies & Distributors 0.8%
Air Lease Corp.*		1,591		37,977
Fastenal Co.		1,467		72,881
GATX Corp.		818		38,732
MRC Global, Inc.*		2,393		73,537
MSC Industrial Direct Co., Inc. - Class A		483		38,215
United Rentals, Inc.*		791		40,040
W.W. Grainger, Inc.		180		39,208
WESCO International, Inc.*		534		38,945
Total Trading Companies & Distributors				379,535
Water Utilities 0.4%
American Water Works Co., Inc.		2,130		81,536
Aqua America, Inc.		3,215		87,545
Total Water Utilities				169,081
Wireless Telecommunication Services 1.3%
Clearwire Corp. - Class A*		28,030		89,416
Crown Castle International Corp.*		578		40,760
MetroPCS Communications, Inc.*		8,078		81,022
NII Holdings, Inc.*(a)		11,848		82,936
SBA Communications Corp. - Class A*		592		41,239
Sprint Nextel Corp.*		14,548		81,905
Telephone & Data Systems, Inc.		3,516		88,920
United States Cellular Corp.*		2,244		85,362
Total Wireless Telecommunication Services				591,560
Total Common Stocks (Cost $41,826,576)				46,392,620
SHORT TERM INVESTMENTS 0.5%
SSgA Government Money Market Fund		239,901		239,901
Total Short Term Investments (Cost $239,901)				239,901
	Face
	Amount
SECURITIES LENDING COLLATERAL 1.5%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	200,263		200,263
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		200,263		200,263
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		285,127		285,127
Total Securities Lending Collateral (Cost $685,653)				685,653
Total Investments 101.4%(d) (Cost $42,752,130)				47,318,174
Other Assets and Liabilities, net – (1.4)%				(668,476	)
Net Assets – 100.0%			$	46,649,698

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013. (b) Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

PLC - Public Limited Company

10

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 99.2%
Aerospace & Defense 1.0%
AAR Corp.		339	$	6,390
Aerovironment, Inc.*		257		5,564
American Science & Engineering, Inc.		74		5,001
API Technologies Corp.*		2,108		5,987
Astronics Corp.*		258		5,911
CPI Aerostructures, Inc.*		566		6,384
Cubic Corp.		122		5,734
Curtiss-Wright Corp.		174		6,203
DigitalGlobe, Inc.*		191		5,342
Esterline Technologies Corp.*		88		5,842
GenCorp, Inc.*		620		6,653
GeoEye, Inc.*		155		5,554
HEICO Corp.		133		6,033
Hexcel Corp.*		434		11,627
KEYW Holding Corp.(The)*		403		5,182
Kratos Defense & Security Solutions, Inc.*		1,196		5,274
LMI Aerospace, Inc.*		286		6,321
Moog, Inc. - Class A*		145		6,351
National Presto Industries, Inc.		68		4,988
Orbital Sciences Corp.*		422		6,203
Taser International, Inc.*		670		5,608
Teledyne Technologies, Inc.*		88		6,007
Total Aerospace & Defense				134,159
Air Freight & Logistics 0.4%
Air Transport Services Group, Inc.*		1,410		6,556
Atlas Air Worldwide Holdings, Inc.*		131		5,907
Echo Global Logistics, Inc.*		326		6,054
Forward Air Corp.		169		6,272
Hub Group, Inc. - Class A*		176		6,478
Pacer International, Inc.*		1,443		5,873
Park-Ohio Holdings Corp.*		273		6,590
XPO Logistics, Inc.*		328		5,494
Total Air Freight & Logistics				49,224
Airlines 0.4%
Alaska Air Group, Inc.*		128		5,905
Allegiant Travel Co.		75		5,585
Hawaiian Holdings, Inc.*		860		4,962
JetBlue Airways Corp.*		972		5,647
Republic Airways Holdings, Inc.*		979		8,214
SkyWest, Inc.		449		5,675
Spirit Airlines, Inc.*		338		6,554
US Airways Group, Inc.*		438		6,255
Total Airlines				48,797
Auto Components 0.6%
American Axle & Manufacturing Holdings, Inc.*		476		5,560
Cooper Tire & Rubber Co.		196		4,990
Dana Holding Corp.		329		5,290
Dorman Products, Inc.		148		5,125
Drew Industries, Inc.		154		5,639
Exide Technologies*		1,533		5,274
Federal-Mogul Corp.*		639		5,968
Fuel Systems Solutions, Inc.*		345		5,065
Gentherm, Inc.*		390		5,647
Modine Manufacturing Co.*		716		6,072
Spartan Motors, Inc.		1,103		6,254
Standard Motor Products, Inc.		237		5,501
Stoneridge, Inc.*		938		5,872

	Shares		Value
Superior Industries International, Inc.		252	$	5,108
Tenneco, Inc.*		145		5,069
Tower International, Inc.*		614		5,950
Total Auto Components				88,384
Automobiles 0.0%(a)
Winnebago Industries, Inc.*		346		6,477
Total Automobiles				6,477
Beverages 0.6%
Boston Beer Co., Inc. - Class A*		204		28,629
Coca-Cola Bottling Co. Consolidated		418		27,057
National Beverage Corp.		1,986		27,427
Total Beverages				83,113
Biotechnology 3.9%
Achillion Pharmaceuticals, Inc.*		634		5,693
Acorda Therapeutics, Inc.*		216		6,238
Aegerion Pharmaceuticals, Inc.*		235		6,653
Affymax, Inc.*		246		4,627
Agenus, Inc.*		1,355		6,165
Alkermes PLC*		284		6,546
Alnylam Pharmaceuticals, Inc.*		298		7,191
AMAG Pharmaceuticals, Inc.*		359		5,726
Amicus Therapeutics, Inc.*		967		3,675
Anacor Pharmaceuticals, Inc.*		1,043		4,162
Arena Pharmaceuticals, Inc.*		578		4,878
ArQule, Inc.*		1,928		4,878
Array Biopharma, Inc.*		1,464		5,519
Astex Pharmaceuticals, Inc.*		1,956		6,553
AVEO Pharmaceuticals, Inc.*		777		6,146
BioCryst Pharmaceuticals, Inc.*		3,380		5,476
Biospecifics Technologies Corp.*		351		5,353
Biotime, Inc.*		1,556		7,158
Celldex Therapeutics, Inc.*		825		6,154
Cepheid, Inc.*		157		5,687
ChemoCentryx, Inc.*		489		5,682
Clovis Oncology, Inc.*		348		6,870
Codexis, Inc.*		2,340		5,546
Coronado Biosciences, Inc.*		1,122		8,235
Cubist Pharmaceuticals, Inc.*		126		5,423
Curis, Inc.*		1,530		4,865
Cytori Therapeutics, Inc.*		1,956		5,359
Dendreon Corp.*		1,016		5,974
Discovery Laboratories, Inc.*		2,434		5,476
Durata Therapeutics, Inc.*		566		4,313
Dyax Corp.*		1,525		4,850
Dynavax Technologies Corp.*		1,901		5,874
Emergent Biosolutions, Inc.*		362		5,810
Enzon Pharmaceuticals, Inc.		1,196		5,920
Exact Sciences Corp.*		518		5,708
Exelixis, Inc.*(b)		1,136		5,294
Genomic Health, Inc.*		197		5,526
Geron Corp.*		3,466		5,476
GTx, Inc.*		1,201		6,005
Halozyme Therapeutics, Inc.*		980		6,556
Idenix Pharmaceuticals, Inc.*		1,055		5,011
ImmunoCellular Therapeutics Ltd.*		2,671		5,609
Immunogen, Inc.*(b)		417		5,971
Immunomedics, Inc.*		1,801		5,205
Infinity Pharmaceuticals, Inc.*		176		6,063
Intercept Pharmaceuticals, Inc.*		161		6,503
InterMune, Inc.*		543		5,349
Ironwood Pharmaceuticals, Inc.*		501		6,423
Isis Pharmaceuticals, Inc.*		544		7,904

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Keryx Biopharmaceuticals, Inc.*(b)		1,915	$	17,388
KYTHERA Biopharmaceuticals, Inc.*		452		12,642
Lexicon Pharmaceuticals, Inc.*		2,738		5,832
Ligand Pharmaceuticals, Inc. - Class B*		263		5,286
MannKind Corp.*		2,535		6,135
Maxygen, Inc.		2,156		5,282
Merrimack Pharmaceuticals, Inc.*		795		4,826
Momenta Pharmaceuticals, Inc.*		466		5,876
Neurocrine Biosciences, Inc.*		686		6,215
NewLink Genetics Corp.*(b)		440		5,214
Novavax, Inc.*(b)		2,867		5,132
NPS Pharmaceuticals, Inc.*		565		4,995
OncoGenex Pharmaceutical, Inc.*		429		5,646
Oncothyreon, Inc.*		1,217		2,410
Opko Health, Inc.*		1,163		7,466
Orexigen Therapeutics, Inc.*(b)		1,047		5,989
Osiris Therapeutics, Inc.*		544		4,281
PDL BioPharma, Inc.		735		5,057
Pharmacyclics, Inc.*		87		6,032
Progenics Pharmaceuticals, Inc.*		2,272		6,475
Raptor Pharmaceutical Corp.*		967		5,231
Regulus Therapeutics, Inc.*		987		5,932
Repligen Corp.*		846		5,837
Rigel Pharmaceuticals, Inc.*		831		5,451
Sangamo Biosciences, Inc.*		896		8,575
Seattle Genetics, Inc.*		229		6,744
SIGA Technologies, Inc.*(b)		2,036		5,945
Spectrum Pharmaceuticals, Inc.(b)		483		6,091
Sunesis Pharmaceuticals, Inc.*		1,316		7,462
Synageva BioPharma Corp.*		117		5,412
Synergy Pharmaceuticals, Inc.*		1,072		6,014
Synta Pharmaceuticals Corp.*(b)		563		6,306
Targacept, Inc.*		1,165		5,231
TESARO, Inc.*		336		6,082
Theravance, Inc.*		242		5,384
Threshold Pharmaceuticals, Inc.*		1,247		5,761
Trius Therapeutics, Inc.*		1,072		5,532
Vanda Pharmaceuticals, Inc.*		1,426		5,733
Verastem, Inc.*		636		6,335
Vical, Inc.*		1,778		6,365
XOMA Corp.*		2,043		5,496
ZIOPHARM Oncology, Inc.*		1,329		5,276
Total Biotechnology				543,652
Building Products 1.5%
AAON, Inc.		567		12,894
Ameresco, Inc. - Class A*		1,416		13,933
American Woodmark Corp.*		172		4,783
AO Smith Corp.		90		6,235
Apogee Enterprises, Inc.		492		12,029
Builders FirstSource, Inc.*		2,179		13,662
Gibraltar Industries, Inc.*		742		12,889
Griffon Corp.		1,061		12,520
Insteel Industries, Inc.		961		14,569
NCI Building Systems, Inc.*		810		12,539
Nortek, Inc.*		174		12,554
PGT, Inc.*		2,644		12,956
Quanex Building Products Corp.		533		11,012
Simpson Manufacturing Co., Inc.		349		11,315
Trex Co., Inc.*		297		12,548
Universal Forest Products, Inc.		299		12,154
USG Corp.*		411		12,079
Total Building Products				200,671
Capital Markets 1.7%
Apollo Investment Corp.		377		3,393

	Shares		Value
Arlington Asset Investment Corp. - Class A		145	$	3,389
Artio Global Investors, Inc.		1,481		2,918
BGC Partners, Inc. - Class A		910		3,631
BlackRock Kelso Capital Corp.		313		3,340
Calamos Asset Management, Inc. - Class A		313		3,261
Capital Southwest Corp.		28		3,020
CIFC Corp.*		403		3,558
Cohen & Steers, Inc.		99		3,256
Cowen Group, Inc. - Class A*		1,220		3,245
Diamond Hill Investment Group, Inc.		43		3,111
Duff & Phelps Corp. - Class A		239		3,798
Epoch Holding Corp.		110		3,080
Evercore Partners, Inc. - Class A		104		3,985
FBR & Co.*		850		3,374
Fidus Investment Corp.		192		3,443
Fifth Street Finance Corp.		293		3,179
Financial Engines, Inc.*		111		3,692
Firsthand Technology Value Fund, Inc.*		171		3,131
FXCM, Inc. - Class A		305		3,657
GAMCO Investors, Inc. - Class A		61		3,437
GFI Group, Inc.		1,041		3,539
Gladstone Capital Corp.		365		3,314
Gladstone Investment Corp.		426		3,182
Golub Capital BDC, Inc.		197		3,172
Greenhill & Co., Inc.		58		3,416
GSV Capital Corp.*		347		2,967
Harris & Harris Group, Inc.*		916		3,472
Hercules Technology Growth Capital, Inc.		280		3,424
HFF, Inc. - Class A		219		3,819
Horizon Technology Finance Corp.		200		3,074
ICG Group, Inc.*		435		5,220
INTL. FCStone, Inc.*		168		2,943
Investment Technology Group, Inc.*		317		3,208
JMP Group, Inc.		508		3,353
KBW, Inc.		199		3,158
KCAP Financial, Inc.		327		3,381
Knight Capital Group, Inc. - Class A*		916		3,407
Ladenburg Thalmann Financial Services, Inc.*		2,163		2,660
Main Street Capital Corp.		105		3,342
Manning & Napier, Inc.		230		3,243
MCG Capital Corp.		662		3,052
Medallion Financial Corp.		257		3,287
Medley Capital Corp.		224		3,405
MVC Capital, Inc.		257		3,128
New Mountain Finance Corp.		212		3,180
NGP Capital Resources Co.		431		3,138
OFS Capital Corp.		363		5,216
Oppenheimer Holdings, Inc. - Class A		189		3,215
PennantPark Investment Corp.		285		3,186
Piper Jaffray Cos.*		99		3,834
Prospect Capital Corp.		284		3,204
Pzena Investment Management, Inc. - Class A		582		3,393
Safeguard Scientifics, Inc.*		204		3,150
Solar Capital Ltd.		133		3,361
Solar Senior Capital Ltd.		166		3,094
Stellus Capital Investment Corp.		320		4,877
Stifel Financial Corp.*		94		3,464
SWS Group, Inc.*		556		3,664
TCP Capital Corp.		207		3,070
THL Credit, Inc.		213		3,176
TICC Capital Corp.		317		3,386
Triangle Capital Corp.		123		3,351

2

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Virtus Investment Partners, Inc.*		25	$	3,725
Walter Investment Management Corp.*		67		3,002
Westwood Holdings Group, Inc.		75		3,153
WisdomTree Investments, Inc.*		495		4,282
Total Capital Markets				228,185
Chemicals 3.2%
A. Schulman, Inc.		411		13,214
ADA-ES, Inc.*		328		7,780
American Vanguard Corp.		389		13,187
Arabian American Development Co.*		1,852		14,649
Axiall Corp.*(b)		260		14,607
Balchem Corp.		325		12,155
Calgon Carbon Corp.*		828		13,281
Chase Corp.		622		11,706
Chemtura Corp.*		555		13,165
Ferro Corp.*		3,565		18,181
Flotek Industries, Inc.*		1,172		15,775
FutureFuel Corp.		967		12,329
GSE Holding, Inc.*		886		6,167
H.B. Fuller Co.		340		13,287
Hawkins, Inc.		294		11,472
Innophos Holdings, Inc.		253		12,794
Innospec, Inc.		363		14,611
KMG Chemicals, Inc.		621		12,141
Koppers Holdings, Inc.		304		12,330
Kraton Performance Polymers, Inc.*		486		12,757
Landec Corp.*		1,214		14,325
LSB Industries, Inc.*		344		14,242
Minerals Technologies, Inc.		301		12,452
Olin Corp.		553		12,863
OM Group, Inc.*		548		15,136
Omnova Solutions, Inc.*		1,613		13,194
PolyOne Corp.		583		12,733
Quaker Chemical Corp.		225		12,863
Sensient Technologies Corp.		321		12,230
Spartech Corp.*		1,307		12,456
Stepan Co.		218		12,788
Tredegar Corp.		608		13,868
Zep, Inc.		877		12,804
Zoltek Cos., Inc.*		1,530		12,470
Total Chemicals				440,012
Commercial Banks 3.8%
1st Source Corp.		137		3,096
1st United Bancorp, Inc.		481		3,088
Access National Corp.		221		3,428
Alliance Financial Corp.		71		3,167
American National Bankshares, Inc.		153		3,097
Ameris Bancorp*		244		3,235
Ames National Corp.		149		3,260
Arrow Financial Corp.		122		2,977
Bancfirst Corp.		73		2,986
Banco Latinoamericano de Comercio Exterior SA - Class E		145		3,364
Bancorp, Inc.(The)*		277		3,263
BancorpSouth, Inc.		208		3,016
Bank of Kentucky Financial Corp.		123		3,229
Bank of Marin Bancorp		86		3,376
Bank of the Ozarks, Inc.		92		3,341
Banner Corp.		99		2,990
Bar Harbor Bankshares		91		3,212
BBCN Bancorp, Inc.		266		3,216
Berkshire Bancorp, Inc.		378		3,153
Boston Private Financial Holdings, Inc.		332		3,071
Bridge Bancorp, Inc.		151		3,086

	Shares		Value
Bridge Capital Holdings*		197	$	3,091
Bryn Mawr Bank Corp.		133		3,078
BSB Bancorp, Inc.*		249		3,175
C&F Financial Corp.		86		3,495
Camden National Corp.		88		2,970
Capital Bank Financial Corp. - Class A*		315		4,873
Capital City Bank Group, Inc.*		271		3,035
Cardinal Financial Corp.		189		3,088
Cascade Bancorp*		533		3,688
Cathay General Bancorp		163		3,164
Center Bancorp, Inc.		256		3,067
Centerstate Banks, Inc.		371		3,283
Central Pacific Financial Corp.*		204		3,286
Century Bancorp, Inc. - Class A		92		3,066
Chemical Financial Corp.		131		3,185
Citizens & Northern Corp.		166		3,303
Citizens Republic Bancorp, Inc.*		160		3,267
City Holding Co.		87		3,288
CNB Financial Corp.		179		3,041
CoBiz Financial, Inc.		416		3,395
Columbia Banking System, Inc.		174		3,515
Community Bank System, Inc.		111		3,152
Community Trust Bancorp, Inc.		93		3,135
CVB Financial Corp.		299		3,289
Eagle Bancorp, Inc.*		149		3,361
Enterprise Bancorp, Inc.		182		3,136
Enterprise Financial Services Corp.		229		3,071
Farmers National Banc Corp.		496		3,264
Fidelity Southern Corp.*		342		3,831
Financial Institutions, Inc.		163		3,275
First BanCorp*		719		3,689
First Bancorp		236		2,997
First Bancorp., Inc.		190		3,146
First Busey Corp.		635		2,883
First California Financial Group, Inc.*		390		3,128
First Commonwealth Financial Corp.		451		3,189
First Community Bancshares, Inc.		194		3,094
First Connecticut Bancorp, Inc.		221		3,107
First Financial Bancorp		212		3,242
First Financial Bankshares, Inc.		74		3,038
First Financial Corp.		98		2,957
First Interstate Bancsystem, Inc.		199		3,429
First Merchants Corp.		210		3,161
First Midwest Bancorp, Inc.		240		3,041
First of Long Island Corp.(The)		104		3,033
FirstMerit Corp.		214		3,259
FNB Corp.		278		3,222
FNB United Corp.*		260		2,865
German American Bancorp, Inc.		136		3,037
Glacier Bancorp, Inc.		206		3,210
Great Southern Bancorp, Inc.		121		3,008
Guaranty Bancorp*		1,667		3,467
Hancock Holding Co.		95		2,871
Hanmi Financial Corp.*		237		3,899
Heartland Financial USA, Inc.		112		2,653
Heritage Commerce Corp.*		436		2,838
Heritage Financial Corp.		213		3,010
Heritage Oaks Bancorp*		525		3,045
Home BancShares, Inc.		92		3,194
HomeTrust Bancshares, Inc.*		231		3,338
Horizon Bancorp		159		3,169
Hudson Valley Holding Corp.		199		3,045
Iberiabank Corp.		62		3,192
Independent Bank Corp.		102		3,161
International Bancshares Corp.		164		3,206
Investors Bancorp, Inc.		171		3,018

3

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Lakeland Bancorp, Inc.		299	$	2,915
Lakeland Financial Corp.		117		2,860
MainSource Financial Group, Inc.		253		3,491
MB Financial, Inc.		158		3,534
Mercantile Bank Corp.		204		3,366
Merchants Bancshares, Inc.		108		3,059
Metro Bancorp, Inc.*		229		3,598
MetroCorp Bancshares, Inc.*		286		2,883
Middleburg Financial Corp.		173		3,199
Midsouth Bancorp, Inc.		188		2,831
MidWestOne Financial Group, Inc.		149		3,561
National Bank Holdings Corp. - Class A		769		13,880
National Bankshares, Inc.		102		3,452
National Penn Bancshares, Inc.		327		3,188
NBT Bancorp, Inc.		152		3,153
Northrim BanCorp, Inc.		140		3,049
Old National Bancorp		254		3,393
OmniAmerican Bancorp, Inc.*		130		3,225
Oriental Financial Group, Inc.		236		3,391
Pacific Continental Corp.		326		3,583
Pacific Mercantile Bancorp*		477		2,767
PacWest Bancorp		123		3,380
Park National Corp.		47		3,076
Park Sterling Corp.*		581		3,300
Peapack Gladstone Financial Corp.		206		3,026
Penns Woods Bancorp, Inc.		79		3,167
Peoples Bancorp, Inc.		143		3,103
Pinnacle Financial Partners, Inc.*		161		3,457
Preferred Bank*		216		3,247
PrivateBancorp, Inc.		197		3,383
Prosperity Bancshares, Inc.		71		3,203
Renasant Corp.		161		3,131
Republic Bancorp, Inc. - Class A		146		3,281
S&T Bancorp, Inc.		167		3,080
S.Y. Bancorp, Inc.		139		3,143
Sandy Spring Bancorp, Inc.		157		3,116
SCBT Financial Corp.		76		3,200
Seacoast Banking Corp. of Florida*		2,007		3,593
Sierra Bancorp		276		3,439
Simmons First National Corp. - Class A		122		3,115
Southside Bancshares, Inc.		146		3,086
Southwest Bancorp, Inc.*		277		3,548
State Bank Financial Corp.		194		3,096
StellarOne Corp.		216		3,229
Sterling Bancorp		336		3,222
Sterling Financial Corp.		144		3,109
Suffolk Bancorp*		225		3,112
Sun Bancorp, Inc.*		871		3,014
Susquehanna Bancshares, Inc.		290		3,312
Taylor Capital Group, Inc.*		166		2,880
Texas Capital Bancshares, Inc.*		68		2,815
Tompkins Financial Corp.		76		3,109
TowneBank		203		3,080
Trico Bancshares		184		3,032
Trustmark Corp.		133		3,076
UMB Financial Corp.		70		3,099
Umpqua Holdings Corp.		251		3,173
Union First Market Bankshares Corp.		196		3,426
United Bankshares, Inc.		120		3,059
United Community Banks, Inc.*		339		3,556
Univest Corp. of Pennsylvania		181		3,055
Virginia Commerce Bancorp, Inc.*		332		4,363
Washington Banking Co.		223		3,142
Washington Trust Bancorp, Inc.		115		3,031
Webster Financial Corp.		145		3,226
WesBanco, Inc.		139		3,223

	Shares		Value
West Bancorp, Inc.		291	$	3,221
West Coast Bancorp		140		3,321
Westamerica Bancorp		72		3,198
Western Alliance Bancorp*		288		3,542
Wilshire Bancorp, Inc.*		529		3,248
Wintrust Financial Corp.		83		3,077
Total Commercial Banks				520,857
Commercial Services & Supplies 2.2%
ABM Industries, Inc.		277		6,072
ACCO Brands Corp.*		779		6,489
Acorn Energy, Inc.		631		4,644
ARC Document Solutions, Inc.*		2,105		5,031
AT Cross Co. - Class A*		540		6,178
Brink’s Co.(The)		194		5,785
Casella Waste Systems, Inc. - Class A*		1,125		5,107
Ceco Environmental Corp.		609		6,736
Cenveo, Inc.*		1,861		4,652
Consolidated Graphics, Inc.*		167		6,117
Courier Corp.		427		5,171
Deluxe Corp.		181		6,659
EnergySolutions, Inc.*		1,805		6,913
EnerNOC, Inc.*		1,133		17,505
Ennis, Inc.		377		5,885
G&K Services, Inc. - Class A		163		6,526
Geo Group, Inc.(The)		231		7,535
Healthcare Services Group, Inc.		238		5,748
Heritage-Crystal Clean, Inc.*		379		5,962
Herman Miller, Inc.		268		6,620
HNI Corp.		190		5,998
InnerWorkings, Inc.*		426		5,926
Interface, Inc.		731		12,266
Intersections, Inc.		314		3,259
Kimball International, Inc. - Class B		504		5,443
Knoll, Inc.		379		6,284
McGrath Rentcorp		198		5,918
Metalico, Inc.*		3,098		5,979
Mine Safety Appliances Co.		138		6,378
Mobile Mini, Inc.*		268		6,432
Multi-Color Corp.		234		5,607
Performant Financial Corp.*		616		7,823
Quad/Graphics, Inc.		275		5,967
Schawk, Inc.		425		5,457
Standard Parking Corp.*		255		5,345
Steelcase, Inc. - Class A		493		6,720
Swisher Hygiene, Inc.*		3,150		4,725
SYKES Enterprises, Inc.*		375		6,037
Team, Inc.*		149		6,528
Tetra Tech, Inc.*		210		6,019
TMS International Corp. - Class A*		923		12,867
TRC Cos., Inc.*		943		5,630
UniFirst Corp.		77		6,294
United Stationers, Inc.		182		6,068
US Ecology, Inc.		252		5,988
Viad Corp.		186		5,193
Total Commercial Services & Supplies				297,486
Communications Equipment 1.5%
ADTRAN, Inc.		246		4,969
Anaren, Inc.*		247		4,834
Arris Group, Inc.*		335		5,534
Aruba Networks, Inc.*		232		5,345
Aviat Networks, Inc.*		1,650		6,187
Aware, Inc.		927		5,340
Bel Fuse, Inc. - Class B		259		4,825
Black Box Corp.		191		4,475

4

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
CalAmp Corp.*		591	$	5,059
Calix, Inc.*		651		5,299
Ciena Corp.*		312		4,886
Comtech Telecommunications Corp.		190		5,035
Digi International, Inc.*		512		5,018
Emulex Corp.*		707		5,401
Extreme Networks*		1,292		4,767
Finisar Corp.*		313		4,852
Globecomm Systems, Inc.*		409		5,072
Harmonic, Inc.*		981		5,131
Infinera Corp.*(b)		824		5,875
InterDigital, Inc.		113		4,903
Ixia*		305		5,792
KVH Industries, Inc.*		372		5,416
Loral Space & Communications, Inc.		90		5,282
Netgear, Inc.*		125		4,389
Numerex Corp. - Class A*		364		4,517
Oclaro, Inc.*(b)		2,925		4,739
Oplink Communications, Inc.*		326		5,493
Parkervision, Inc.*		2,061		4,926
PC-Tel, Inc.		727		5,394
Plantronics, Inc.		133		5,469
Procera Networks, Inc.*		272		4,578
Ruckus Wireless, Inc.*		161		3,793
ShoreTel, Inc.*		1,050		4,505
Sonus Networks, Inc.*		2,684		6,093
Sycamore Networks, Inc.		2,190		5,037
Symmetricom, Inc.*		814		4,387
Tellabs, Inc.		1,458		3,324
Telular Corp.		495		5,490
Tessco Technologies, Inc.		216		4,828
Ubiquiti Networks, Inc.		384		4,946
Viasat, Inc.*		123		4,724
Westell Technologies, Inc. - Class A*		2,382		4,359
Total Communications Equipment				210,288
Computers & Peripherals 0.6%
3D Systems Corp.*		94		5,438
Avid Technology, Inc.*		656		4,854
Cray, Inc.*		327		6,072
Datalink Corp.*		587		5,160
Electronics for Imaging, Inc.*		307		6,944
Imation Corp.*		1,141		4,233
Immersion Corp.*		740		5,032
Intermec, Inc.*		495		4,891
Intevac, Inc.*		932		3,924
OCZ Technology Group, Inc.*(b)		2,626		5,909
QLogic Corp.*		518		5,983
Quantum Corp.*		3,876		5,271
Silicon Graphics International Corp.*		476		6,921
STEC, Inc.*		932		4,716
Super Micro Computer, Inc.*		490		6,066
Synaptics, Inc.*		172		6,034
Total Computers & Peripherals				87,448
Construction & Engineering 1.1%
Aegion Corp.*		258		6,068
Argan, Inc.		300		5,640
Comfort Systems USA, Inc.		983		12,691
Dycom Industries, Inc.*		287		6,021
EMCOR Group, Inc.		165		5,994
Furmanite Corp.*		1,176		6,245
Granite Construction, Inc.		166		6,036
Great Lakes Dredge & Dock Corp.		624		5,853
Layne Christensen Co.*		238		5,395
MasTec, Inc.*		236		6,679

	Shares		Value
Michael Baker Corp.		271	$	6,962
MYR Group, Inc.*		263		5,904
Northwest Pipe Co.*		525		12,941
Orion Marine Group, Inc.*		722		5,632
Pike Electric Corp.		2,848		29,619
Primoris Services Corp.		382		7,327
Sterling Construction Co., Inc.*		596		6,109
Tutor Perini Corp.*		398		6,603
Total Construction & Engineering				147,719
Construction Materials 0.3%
Eagle Materials, Inc.		202		13,083
Headwaters, Inc.*		1,530		14,321
Texas Industries, Inc.*		225		12,789
Total Construction Materials				40,193
Consumer Finance 0.4%
Asset Acceptance Capital Corp.*		669		3,593
Asta Funding, Inc.		319		3,021
Cash America International, Inc.		78		3,737
Credit Acceptance Corp.*		32		3,186
DFC Global Corp.*		160		3,082
Encore Capital Group, Inc.*		105		3,159
EZCORP, Inc. - Class A*		156		3,463
First Cash Financial Services, Inc.*		63		3,359
First Marblehead Corp.(The)*		4,485		4,353
Green Dot Corp. - Class A*		229		3,069
Nelnet, Inc. - Class A		105		3,195
Netspend Holdings, Inc.*		266		2,883
Nicholas Financial, Inc.		207		2,705
Portfolio Recovery Associates, Inc.*		30		3,209
Regional Management Corp.*		184		3,091
World Acceptance Corp.*		42		3,257
Total Consumer Finance				52,362
Containers & Packaging 0.5%
AEP Industries, Inc.*		214		13,777
Berry Plastics Group, Inc.*		315		5,538
Boise, Inc.		1,474		12,160
Graphic Packaging Holding Co.*		1,877		13,158
Myers Industries, Inc.		788		11,647
UFP Technologies, Inc.*		654		12,374
Total Containers & Packaging				68,654
Distributors 0.3%
Core-Mark Holding Co., Inc.		588		29,476
Pool Corp.		120		5,498
VOXX International Corp.*		766		7,400
Weyco Group, Inc.		209		4,761
Total Distributors				47,135
Diversified Consumer Services 0.9%
American Public Education, Inc.*(b)		136		5,240
Ascent Capital Group, Inc. - Series A*		92		5,861
Bridgepoint Education, Inc.*		462		4,874
Capella Education Co.*		166		4,535
Career Education Corp.*		1,403		4,854
Carriage Services, Inc.		420		5,872
Coinstar, Inc.*(b)		95		4,834
Collectors Universe		521		6,268
Corinthian Colleges, Inc.*(b)		1,897		4,667
Education Management Corp.*		917		3,971
Grand Canyon Education, Inc.*		203		4,844
Hillenbrand, Inc.		218		5,395
K12, Inc.*		244		4,504
LifeLock, Inc.*		665		6,238

5

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Lincoln Educational Services Corp.		959	$	5,313
Mac-Gray Corp.		465		5,613
Matthews International Corp. - Class A		152		4,979
National American University Holdings, Inc.		1,276		4,976
Regis Corp.		287		5,094
Sotheby’s		149		5,352
Steiner Leisure Ltd.*		105		4,730
Stewart Enterprises, Inc. - Class A		634		5,230
Strayer Education, Inc.		82		4,666
Universal Technical Institute, Inc.		497		5,616
Total Diversified Consumer Services				123,526
Diversified Financial Services 0.3%
California First National Bancorp		196		3,175
Gain Capital Holdings, Inc.		753		3,230
MarketAxess Holdings, Inc.		90		3,403
Marlin Business Services Corp.		318		6,996
MicroFinancial, Inc.		750		5,633
NewStar Financial, Inc.*		227		3,237
PHH Corp.*		258		5,645
PICO Holdings, Inc.*		155		3,260
Resource America, Inc. - Class A		439		3,402
Total Diversified Financial Services				37,981
Diversified Telecommunication Services 2.7%
8x8, Inc.*		3,757		24,871
Atlantic Tele-Network, Inc.		768		33,239
Cbeyond, Inc.*		3,163		27,834
Cincinnati Bell, Inc.*		5,177		24,591
Cogent Communications Group, Inc.		1,231		30,492
Consolidated Communications Holdings, Inc.		1,753		30,169
General Communication, Inc. - Class A*		2,872		24,441
Hawaiian Telcom Holdco, Inc.*		1,393		27,888
inContact, Inc.*		5,120		30,208
Iridium Communications, Inc.*		4,760		33,320
magicJack VocalTec Ltd.*		1,595		20,974
Premiere Global Services, Inc.*		3,042		28,504
Vonage Holdings Corp.*		11,584		30,234
Total Diversified Telecommunication Services				366,765
Electric Utilities 2.5%
Allete, Inc.		671		30,960
Cleco Corp.		678		28,985
El Paso Electric Co.		870		29,310
Empire District Electric Co.(The)		1,333		28,273
IDACORP, Inc.		625		29,006
MGE Energy, Inc.		525		27,505
Otter Tail Corp.		1,106		29,729
PNM Resources, Inc.		1,333		28,473
Portland General Electric Co.		1,005		28,864
UIL Holdings Corp.		764		28,428
Unitil Corp.		1,053		28,199
UNS Energy Corp.		645		29,212
Total Electric Utilities				346,944
Electrical Equipment 1.1%
Acuity Brands, Inc.		172		11,834
American Superconductor Corp.*		1,853		4,911
AZZ, Inc.		159		6,804
Belden, Inc.		268		12,904
Brady Corp. - Class A		172		6,001
Capstone Turbine Corp.*		14,655		12,356
Coleman Cable, Inc.		606		6,199
Encore Wire Corp.		370		12,069

	Shares		Value
EnerSys*		154	$	6,303
Franklin Electric Co., Inc.		92		6,120
FuelCell Energy, Inc.*(b)		13,496		14,711
Generac Holdings, Inc.		169		6,284
Global Power Equipment Group, Inc.		322		5,284
II-VI, Inc.*		270		4,595
LSI Industries, Inc.		1,714		12,409
Powell Industries, Inc.*		141		6,380
Preformed Line Products Co.		92		6,208
Thermon Group Holdings, Inc.*		239		5,784
Vicor Corp.*		1,058		5,692
Total Electrical Equipment				152,848
Electronic Equipment, Instruments & Components 2.0%
Aeroflex Holding Corp.*		719		5,026
Agilysys, Inc.*		575		4,893
Anixter International, Inc.		77		5,181
Audience, Inc.*		481		5,878
Badger Meter, Inc.		119		5,889
Benchmark Electronics, Inc.*		299		5,250
Checkpoint Systems, Inc.*		474		5,716
Cognex Corp.		135		5,354
Coherent, Inc.		100		5,541
CTS Corp.		486		4,836
Daktronics, Inc.		468		5,550
DTS, Inc.*		288		5,501
Echelon Corp.*		1,857		4,494
Electro Rent Corp.		383		5,929
Electro Scientific Industries, Inc.		488		5,270
Fabrinet*		392		5,739
FARO Technologies, Inc.*		162		5,380
FEI Co.		91		5,547
GSI Group, Inc.*		573		5,443
Insight Enterprises, Inc.*		269		5,272
InvenSense, Inc.*		446		6,512
Kemet Corp.*		1,028		5,921
Key Tronic Corp.*		515		4,959
Littelfuse, Inc.		94		6,017
Maxwell Technologies, Inc.*		698		6,750
Measurement Specialties, Inc.*		176		6,213
Mercury Systems, Inc.*		546		4,013
Mesa Laboratories, Inc.		117		6,083
Methode Electronics, Inc.		522		5,022
MTS Systems Corp.		113		6,424
Multi-Fineline Electronix, Inc.*		248		3,962
Neonode, Inc.*		993		5,164
Newport Corp.*		372		5,364
OSI Systems, Inc.*		92		5,010
Park Electrochemical Corp.		191		4,993
PC Connection, Inc.		450		5,557
Plexus Corp.*		198		5,053
Power-One, Inc.*		1,328		5,339
Radisys Corp.*		1,720		6,708
RealD, Inc.*(b)		457		5,201
Richardson Electronics Ltd.		432		5,236
Rofin-Sinar Technologies, Inc.*		233		5,972
Rogers Corp.*		105		4,920
Sanmina Corp.*		444		4,227
Scansource, Inc.*		162		4,708
SYNNEX Corp.*		144		5,177
TTM Technologies, Inc.*		525		4,184
Universal Display Corp.*		186		5,175
Viasystems Group, Inc.*		376		5,298
Vishay Precision Group, Inc.*		425		5,606

6

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Zygo Corp.*		374	$	5,950
Total Electronic Equipment, Instruments & Components				274,407
Energy Equipment & Services 3.3%
Basic Energy Services, Inc.*(b)		1,243		16,072
Bolt Technology Corp.		978		14,572
Bristow Group, Inc.		107		6,097
C&J Energy Services, Inc.*		653		14,960
Cal Dive International, Inc.*		8,354		15,873
Dawson Geophysical Co.*		552		14,750
Dril-Quip, Inc.*		194		15,732
Exterran Holdings, Inc.*		638		14,827
Forum Energy Technologies, Inc.*		564		14,388
Geospace Technologies Corp.*		165		14,876
Gulf Island Fabrication, Inc.		555		12,887
Gulfmark Offshore, Inc. - Class A		155		5,388
Heckmann Corp.*(b)		3,310		12,710
Helix Energy Solutions Group, Inc.*		707		16,770
Hercules Offshore, Inc.*		2,412		15,871
Hornbeck Offshore Services, Inc.*		385		14,172
ION Geophysical Corp.*		2,183		14,844
Key Energy Services, Inc.*		1,958		15,919
Lufkin Industries, Inc.		240		13,898
Matrix Service Co.*		1,208		17,250
Mitcham Industries, Inc.*		1,070		15,858
Natural Gas Services Group, Inc.*		831		15,116
Newpark Resources, Inc.*		1,765		15,214
Parker Drilling Co.*		3,249		18,259
PHI, Inc.*		173		5,725
Pioneer Energy Services Corp.*		1,897		14,379
RigNet, Inc.*		680		14,566
Tesco Corp.*		1,303		15,753
Tetra Technologies, Inc.*		1,844		15,674
TGC Industries, Inc.		1,673		15,224
Vantage Drilling Co.*		8,208		15,349
Willbros Group, Inc.*		2,585		16,906
Total Energy Equipment & Services				459,879
Food & Staples Retailing 3.2%
Andersons, Inc.(The)		638		30,082
Casey’s General Stores, Inc.		546		29,882
Chefs’ Warehouse, Inc.(The)*		1,842		30,559
Harris Teeter Supermarkets, Inc.		734		30,454
Ingles Markets, Inc. - Class A		1,561		29,956
Nash Finch Co.		1,304		27,084
Pantry, Inc.(The)*		2,386		29,825
Pricesmart, Inc.		66		5,083
Rite Aid Corp.*		26,742		42,787
Spartan Stores, Inc.		1,758		28,550
SUPERVALU, Inc.(b)		10,538		41,203
Susser Holdings Corp.*		803		33,613
United Natural Foods, Inc.*		512		27,638
Village Super Market, Inc. - Class A		832		26,616
Weis Markets, Inc.		740		29,792
Total Food & Staples Retailing				443,124
Food Products 4.2%
Annie’s, Inc.*		786		28,186
B&G Foods, Inc.		962		30,495
Boulder Brands, Inc.*		2,133		28,646
Cal-Maine Foods, Inc.		622		25,925
Calavo Growers, Inc.		1,186		29,543
Chiquita Brands International, Inc.*		3,436		25,255
Darling International, Inc.*		334		5,635
Diamond Foods, Inc.*		1,979		28,260

	Shares		Value
Dole Food Co., Inc.*		2,433	$	27,104
Fresh Del Monte Produce, Inc.		1,057		27,852
Griffin Land & Nurseries, Inc.		114		3,431
Hain Celestial Group, Inc.(The)*		506		28,837
J&J Snack Foods Corp.		446		30,395
Lancaster Colony Corp.		408		29,156
Limoneira Co.		1,442		31,363
Pilgrim’s Pride Corp.*		3,862		32,634
Post Holdings, Inc.*		807		30,658
Sanderson Farms, Inc.		565		28,521
Seneca Foods Corp. - Class A*		868		26,049
Snyders-Lance, Inc.		1,181		30,033
Tootsie Roll Industries, Inc.(b)		1,058		28,672
TreeHouse Foods, Inc.*		552		29,217
Total Food Products				585,867
Gas Utilities 1.7%
Chesapeake Utilities Corp.		604		28,666
Laclede Group, Inc.(The)		716		28,583
New Jersey Resources Corp.		685		28,790
Northwest Natural Gas Co.		621		28,206
Piedmont Natural Gas Co., Inc.		858		27,250
South Jersey Industries, Inc.		542		29,420
Southwest Gas Corp.		652		29,040
WGL Holdings, Inc.		698		29,267
Total Gas Utilities				229,222
Health Care Equipment & Supplies 2.9%
Abaxis, Inc.		142		5,498
ABIOMED, Inc.*(b)		407		5,678
Accuray, Inc.*		799		4,083
Align Technology, Inc.*		201		6,303
Alphatec Holdings, Inc.*		3,042		5,263
Analogic Corp.		75		5,714
AngioDynamics, Inc.*		501		6,112
Anika Therapeutics, Inc.*		551		5,852
Antares Pharma, Inc.*		1,434		5,463
Arthrocare Corp.*		163		5,938
AtriCure, Inc.*		815		6,569
Atrion Corp.		28		5,614
Cantel Medical Corp.		188		5,905
Cardiovascular Systems, Inc.*		435		6,847
Cerus Corp.*		1,649		5,227
Conceptus, Inc.*		247		5,103
CONMED Corp.		199		5,845
CryoLife, Inc.		856		5,495
Cyberonics, Inc.*		105		4,553
Cynosure, Inc. - Class A*		236		6,301
Derma Sciences, Inc.*		519		6,347
DexCom, Inc.*		412		6,275
Endologix, Inc.*		402		6,163
EnteroMedics, Inc.*		2,311		7,141
Exactech, Inc.*		330		6,333
Globus Medical, Inc.*		471		6,019
Greatbatch, Inc.*		244		6,476
Haemonetics Corp.*		135		5,662
Hansen Medical, Inc.*(b)		2,456		5,894
HeartWare International, Inc.*		66		5,965
ICU Medical, Inc.*		89		5,380
Insulet Corp.*		253		5,837
Integra LifeSciences Holdings Corp.*		146		6,154
Invacare Corp.		349		5,490
MAKO Surgical Corp.*		428		4,960
Masimo Corp.		266		5,400
Meridian Bioscience, Inc.		270		5,656
Merit Medical Systems, Inc.*		406		5,631

7

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Natus Medical, Inc.*		505	$	6,222
Navidea Biopharmaceuticals, Inc.*(b)		1,869		6,149
Neogen Corp.*		114		5,300
NuVasive, Inc.*		360		6,203
NxStage Medical, Inc.*		488		5,710
OraSure Technologies, Inc.*		742		5,231
Orthofix International NV*		145		5,532
Palomar Medical Technologies, Inc.*		593		5,794
PhotoMedex, Inc.*(b)		1,899		26,909
Quidel Corp.*		289		6,485
Rochester Medical Corp.*		576		6,728
Rockwell Medical Technologies, Inc.*		664		4,064
RTI Biologics, Inc.*		1,239		6,096
Solta Medical, Inc.*		1,991		5,097
Spectranetics Corp.*		396		6,597
Staar Surgical Co.*		917		5,190
STERIS Corp.		162		6,112
SurModics, Inc.*		261		6,293
Symmetry Medical, Inc.*		544		5,826
Tornier NV*		328		5,655
Unilife Corp.*(b)		2,320		5,150
Utah Medical Products, Inc.		153		6,151
Vascular Solutions, Inc.*		367		6,133
Volcano Corp.*		232		5,809
West Pharmaceutical Services, Inc.		100		5,921
Wright Medical Group, Inc.*		265		5,602
Young Innovations, Inc.		139		5,486
Zeltiq Aesthetics, Inc.*		1,163		5,082
Total Health Care Equipment & Supplies				402,673
Health Care Providers & Services 1.9%
Acadia Healthcare Co., Inc.*		242		6,188
Accretive Health, Inc.*		450		5,810
Air Methods Corp.		153		6,689
Almost Family, Inc.		272		5,445
Amedisys, Inc.*		450		5,004
AMN Healthcare Services, Inc.*		466		5,662
Amsurg Corp.*		185		5,774
Assisted Living Concepts, Inc. - Class A		576		5,656
Bio-Reference Labs, Inc.*		185		5,138
BioScrip, Inc.*		517		5,806
Capital Senior Living Corp.*		310		6,581
Centene Corp.*		132		5,697
Chemed Corp.		79		5,969
Chindex International, Inc.*		527		5,818
CorVel Corp.*		126		5,771
Cross Country Healthcare, Inc.*		1,120		6,328
Emeritus Corp.*		234		6,337
Ensign Group, Inc.(The)		199		5,683
ExamWorks Group, Inc.*		426		6,164
Five Star Quality Care, Inc.*		1,111		6,288
Gentiva Health Services, Inc.*		497		4,925
Hanger, Inc.*		198		5,689
HealthSouth Corp.*		254		6,060
Healthways, Inc.*		520		5,470
HMS Holdings Corp.*		211		5,752
IPC The Hospitalist Co., Inc.*		135		5,756
Kindred Healthcare, Inc.*		472		5,088
Landauer, Inc.		92		5,795
LHC Group, Inc.*		258		5,511
Magellan Health Services, Inc.*		104		5,335
Molina Healthcare, Inc.*		195		5,599
MWI Veterinary Supply, Inc.*		48		5,391
National Healthcare Corp.		114		5,487
National Research Corp.		100		5,378
Owens & Minor, Inc.		192		5,877

	Shares		Value
PDI, Inc.*		771	$	5,975
PharMerica Corp.*		372		5,387
Providence Service Corp.(The)*		345		6,393
PSS World Medical, Inc.*		193		5,584
Select Medical Holdings Corp.		576		5,610
Skilled Healthcare Group, Inc. - Class A*		853		4,538
Team Health Holdings, Inc.*		183		6,198
Triple-S Management Corp. - Class B*		293		5,295
Universal American Corp.		647		6,062
US Physical Therapy, Inc.		199		4,895
Vanguard Health Systems, Inc.*		462		6,454
WellCare Health Plans, Inc.*		115		5,832
Total Health Care Providers & Services				269,144
Health Care Technology 0.5%
athenahealth, Inc.*		72		6,226
Computer Programs & Systems, Inc.		106		5,577
Epocrates, Inc.*		611		7,136
Greenway Medical Technologies*		332		4,947
HealthStream, Inc.*		211		5,228
MedAssets, Inc.*		322		6,295
Medidata Solutions, Inc.*		139		6,504
Merge Healthcare, Inc.*		1,963		5,280
Omnicell, Inc.*		346		5,467
Quality Systems, Inc.		304		5,545
Vocera Communications, Inc.*		214		5,620
Total Health Care Technology				63,825
Hotels, Restaurants & Leisure 2.2%
AFC Enterprises, Inc.*		193		5,609
Ameristar Casinos, Inc.		224		5,936
Biglari Holdings, Inc.*		14		5,164
BJ’s Restaurants, Inc.*		141		4,508
Bloomin’ Brands, Inc.*		299		5,552
Bluegreen Corp.*		520		4,992
Bob Evans Farms, Inc.		120		5,312
Boyd Gaming Corp.*(b)		737		5,166
Bravo Brio Restaurant Group, Inc.*		352		5,245
Buffalo Wild Wings, Inc.*		65		4,781
Caesars Entertainment Corp.*		647		5,208
Carrols Restaurant Group, Inc.*		804		5,041
CEC Entertainment, Inc.		149		4,911
Cheesecake Factory, Inc.(The)		147		4,875
Churchill Downs, Inc.		76		4,914
Chuy’s Holdings, Inc.*		214		6,073
Cracker Barrel Old Country Store, Inc.		76		4,926
Del Frisco’s Restaurant Group, Inc.*		332		5,249
Denny’s Corp.*		1,042		5,273
DineEquity, Inc.*		78		5,714
Domino’s Pizza, Inc.		116		5,402
Einstein Noah Restaurant Group, Inc.		307		3,945
Fiesta Restaurant Group, Inc.*		319		5,681
Frisch’s Restaurants, Inc.		265		4,842
Ignite Restaurant Group, Inc.*		382		5,539
International Speedway Corp. - Class A		179		4,906
Interval Leisure Group, Inc.		245		4,851
Isle of Capri Casinos, Inc.*		864		6,074
Jack in the Box, Inc.*		171		4,964
Jamba, Inc.*		2,240		5,802
Krispy Kreme Doughnuts, Inc.*		524		6,812
Life Time Fitness, Inc.*		100		5,073
Luby’s, Inc.*		723		4,931
Marcus Corp.		419		5,573
Marriott Vacations Worldwide Corp.*		121		5,370
Monarch Casino & Resort, Inc.*		517		5,356
Morgans Hotel Group Co.*		791		4,264

8

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
MTR Gaming Group, Inc.*		1,427	$	5,708
Multimedia Games Holding Co., Inc.*		343		5,810
Nathan’s Famous, Inc.*		146		6,025
Orient-Express Hotels Ltd. - Class A*		407		4,729
Papa John’s International, Inc.*		93		5,217
Pinnacle Entertainment, Inc.*		363		5,645
Premier Exhibitions, Inc.*		1,756		4,162
Red Lion Hotels Corp.*		647		4,833
Red Robin Gourmet Burgers, Inc.*		143		5,287
Ruby Tuesday, Inc.*		615		4,631
Ruth’s Hospitality Group, Inc*		648		5,029
Scientific Games Corp. - Class A*		566		5,032
SHFL Entertainment, Inc.*		351		5,195
Six Flags Entertainment Corp.		82		5,161
Sonic Corp.*		467		5,212
Speedway Motorsports, Inc.		275		4,499
Texas Roadhouse, Inc.		289		5,084
Town Sports International Holdings, Inc.		463		4,875
Vail Resorts, Inc.		91		4,809
WMS Industries, Inc.*		292		7,227
Total Hotels, Restaurants & Leisure				298,004
Household Durables 1.0%
American Greetings Corp. - Class A		287		4,592
Bassett Furniture Industries, Inc.		406		5,652
Beazer Homes USA, Inc.*		302		5,684
Blyth, Inc.		267		3,741
Cavco Industries, Inc.*		99		5,134
CSS Industries, Inc.		242		5,496
Ethan Allen Interiors, Inc.		195		5,637
Flexsteel Industries, Inc.		235		5,513
Helen of Troy Ltd.*		147		5,321
Hooker Furniture Corp.		329		4,968
Hovnanian Enterprises, Inc. - Class A*		818		4,671
iRobot Corp.*		253		5,789
KB Home		291		5,549
La-Z-Boy, Inc.		355		5,552
Libbey, Inc.*		254		4,770
Lifetime Brands, Inc.		472		5,022
M/I Homes, Inc.*		195		5,312
MDC Holdings, Inc.		135		5,308
Meritage Homes Corp.*		128		5,663
NACCO Industries, Inc. - Class A		97		6,320
Ryland Group, Inc.(The)		132		5,243
Sealy Corp.*(b)		2,292		4,951
Skullcandy, Inc.*		607		3,994
Standard Pacific Corp.*(b)		685		5,685
Universal Electronics, Inc.*		266		5,081
Zagg, Inc.*		636		4,401
Total Household Durables				135,049
Household Products 0.7%
Central Garden & Pet Co. - Class A*		499		4,800
Harbinger Group, Inc.*		1,552		12,727
Oil-Dri Corp. of America		442		12,266
Spectrum Brands Holdings, Inc.		636		32,207
WD-40 Co.		603		32,212
Total Household Products				94,212
Independent Power Producers & Energy Traders 0.4%
Atlantic Power Corp.(b)		2,428		29,840
Ormat Technologies, Inc.		1,357		28,850
Total Independent Power Producers & Energy Traders				58,690

	Shares		Value
Industrial Conglomerates 0.3%
Raven Industries, Inc.		212	$	5,709
Seaboard Corp.		11		29,737
Standex International Corp.		114		6,458
Total Industrial Conglomerates				41,904
Insurance 1.2%
Alterra Capital Holdings Ltd.		132		4,022
American Equity Investment Life Holding Co.		254		3,424
American Safety Insurance Holdings Ltd.*		170		3,397
AMERISAFE, Inc.*		116		3,322
Amtrust Financial Services, Inc.		107		3,557
Argo Group International Holdings Ltd.		92		3,320
Baldwin & Lyons, Inc. - Class B		131		3,236
Citizens, Inc.*		286		2,863
CNO Financial Group, Inc.		320		3,286
Crawford & Co. - Class B		442		3,213
Donegal Group, Inc. - Class A		213		2,801
Eastern Insurance Holdings, Inc.		180		3,305
eHealth, Inc.*		111		2,705
EMC Insurance Group, Inc.		130		3,245
Employers Holdings, Inc.		149		3,175
Enstar Group Ltd.*		29		3,569
FBL Financial Group, Inc. - Class A		90		3,144
First American Financial Corp.		130		3,106
Fortegra Financial Corp.*		348		3,191
Global Indemnity PLC*		140		2,955
Greenlight Capital Re, Ltd. - Class A*		135		3,247
Hallmark Financial Services*		329		2,944
Hilltop Holdings, Inc.*		227		2,983
Homeowners Choice, Inc.		138		3,119
Horace Mann Educators Corp.		155		3,370
Independence Holding Co.		306		3,026
Infinity Property & Casualty Corp.		53		3,152
Investors Title Co.		50		3,323
Kansas City Life Insurance Co.		77		2,983
Maiden Holdings Ltd.		347		3,529
Meadowbrook Insurance Group, Inc.		523		3,279
Montpelier Re Holdings Ltd.		137		3,340
National Financial Partners Corp.*		178		3,135
National Interstate Corp.		110		3,355
National Western Life Insurance Co. - Class A		19		3,105
Navigators Group, Inc.(The)*		58		3,145
OneBeacon Insurance Group Ltd. - Class A		228		3,114
Phoenix Cos., Inc.(The)*		129		3,506
Platinum Underwriters Holdings Ltd.		68		3,314
Primerica, Inc.		104		3,419
RLI Corp.		47		3,243
Safety Insurance Group, Inc.		66		3,169
SeaBright Holdings, Inc.		276		3,061
Selective Insurance Group, Inc.		158		3,241
State Auto Financial Corp.		206		3,135
Stewart Information Services Corp.		114		3,028
Symetra Financial Corp.		235		3,278
Tower Group, Inc.		163		3,146
United Fire Group, Inc.		137		3,177
Universal Insurance Holdings, Inc.		737		3,346
Total Insurance				161,048
Internet & Catalog Retail 0.6%
1-800-FLOWERS.COM, Inc. - Class A*		1,435		5,769
Blue Nile, Inc.*		125		4,186

9

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Geeknet, Inc.*		320	$	4,902
HSN, Inc.		90		5,364
Kayak Software Corp.*		123		4,966
Nutrisystem, Inc.		615		5,554
Orbitz Worldwide, Inc.*		1,807		5,222
Overstock.com, Inc.*		344		4,623
PetMed Express, Inc.		2,473		32,248
Shutterfly, Inc.*		175		5,789
Total Internet & Catalog Retail				78,623
Internet Software & Services 2.4%
Active Network Inc.(The)*		958		5,298
Angie’s List, Inc.*		488		6,124
Bankrate, Inc.*		375		4,639
Bazaarvoice, Inc.*		520		4,020
Blucora, Inc.*		321		4,770
Brightcove, Inc.*		540		4,547
Carbonite, Inc.*		496		4,772
comScore, Inc.*		363		5,347
Constant Contact, Inc.*		337		5,075
Cornerstone OnDemand, Inc.*		175		5,719
CoStar Group, Inc.*		64		6,002
Dealertrack Holdings, Inc.*		174		5,495
Demand Media, Inc.*		504		4,259
Demandware, Inc.*		189		6,008
Dice Holdings, Inc.*		620		5,834
Digital River, Inc.*		337		4,893
E2open, Inc.*		349		6,230
EarthLink, Inc.		739		5,025
Envestnet, Inc.*		351		4,882
ExactTarget, Inc.*		260		5,717
Internap Network Services Corp.*		767		6,067
IntraLinks Holdings, Inc.*		729		4,717
j2 Global, Inc.		901		28,670
Keynote Systems, Inc.		344		5,366
Limelight Networks, Inc.*		2,180		5,145
Liquidity Services, Inc.*		142		4,526
LivePerson, Inc.*		374		5,000
LogMeIn, Inc.*		220		4,994
Marchex, Inc. - Class B		1,193		4,438
Market Leader, Inc.*		474		3,593
MeetMe, Inc.*(b)		1,476		4,000
Millennial Media, Inc.*		381		4,397
Monster Worldwide, Inc.*		909		5,272
Move, Inc.*		675		6,365
NIC, Inc.		311		5,069
OpenTable, Inc.*		97		5,111
Perficient, Inc.*		426		5,095
QuinStreet, Inc.*		775		4,371
RealNetworks, Inc.*		625		4,788
Responsys, Inc.*		831		6,341
Saba Software, Inc.*		608		5,630
SciQuest, Inc.*		315		5,210
Spark Networks, Inc.*		649		4,686
SPS Commerce, Inc.*		135		5,253
Stamps.com, Inc.*		187		5,047
support.com, Inc.*		1,149		4,791
Synacor, Inc.*		839		4,858
TechTarget, Inc.*		855		4,343
Travelzoo, Inc.*		257		5,633
Trulia, Inc.*		188		4,943
United Online, Inc.		866		5,750
Unwired Planet, Inc.*		3,618		7,308
ValueClick, Inc.*		250		5,117
VistaPrint NV*		143		5,127
Vocus, Inc.*		281		4,929

	Shares		Value
Web.com Group, Inc.*		316	$	5,119
WebMD Health Corp.*		338		5,587
XO Group, Inc.*		576		5,541
Yelp, Inc.*		270		5,735
Zix Corp.*		1,738		5,666
Total Internet Software & Services				334,254
IT Services 1.2%
Acxiom Corp.*		270		4,787
CACI International, Inc. - Class A*		87		4,666
Cardtronics, Inc.*		124		3,210
Cass Information Systems, Inc.		75		2,910
CIBER, Inc.*		1,601		5,411
Computer Task Group, Inc.*		264		5,053
Convergys Corp.		340		5,787
CSG Systems International, Inc.*		259		4,877
EPAM Systems, Inc.*		236		4,890
Euronet Worldwide, Inc.*		131		3,206
ExlService Holdings, Inc.*		210		6,229
Forrester Research, Inc.		211		5,965
Global Cash Access Holdings, Inc.*		399		3,012
Hackett Group, Inc.(The)		1,396		6,003
Heartland Payment Systems, Inc.		104		3,303
Higher One Holdings, Inc.*(b)		292		3,075
iGate Corp.*		305		5,331
Innodata Isogen, Inc.*		1,383		5,200
Lionbridge Technologies, Inc.*		1,177		4,696
ManTech International Corp. - Class A		186		4,589
Mattersight Corp.*		930		4,111
MAXIMUS, Inc.		89		6,103
ModusLink Global Solutions, Inc.*		1,639		4,769
MoneyGram International, Inc.*		242		3,332
PRGX Global, Inc.*		858		5,791
Sapient Corp.*		462		5,595
ServiceSource International, Inc.*(b)		963		5,826
Syntel, Inc.		89		5,188
TeleTech Holdings, Inc.*		318		5,947
TNS, Inc.*		235		4,923
Unisys Corp.*		279		6,197
Virtusa Corp.*		314		6,503
WEX, Inc.*		41		3,223
Total IT Services				159,708
Leisure Equipment & Products 0.4%
Arctic Cat, Inc.*		132		4,770
Black Diamond, Inc.*		610		4,666
Brunswick Corp.		182		6,581
Callaway Golf Co.		762		4,999
Jakks Pacific, Inc.		387		5,054
Johnson Outdoors, Inc. - Class A*		245		5,263
Leapfrog Enterprises, Inc.*		621		5,595
Marine Products Corp.		857		5,408
Smith & Wesson Holding Corp.*		636		5,470
Steinway Musical Instruments, Inc.*		220		4,893
Sturm Ruger & Co., Inc.(b)		122		6,194
Total Leisure Equipment & Products				58,893
Life Sciences Tools & Services 0.4%
Affymetrix, Inc.*		1,620		6,140
Cambrex Corp.*		464		5,452
Fluidigm Corp.*		372		6,138
Furiex Pharmaceuticals, Inc.*		296		9,517
Harvard Bioscience, Inc.*		1,329		6,605
Luminex Corp.*		330		6,065
Pacific Biosciences of California, Inc.*		3,339		8,281
PAREXEL International Corp.*		171		5,788

10

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Sequenom, Inc.*(b)		1,180	$	4,897
Total Life Sciences Tools & Services				58,883
Machinery 3.1%
Accuride Corp.*		1,687		6,343
Actuant Corp. - Class A		192		5,660
Alamo Group, Inc.		173		5,875
Albany International Corp. - Class A		252		6,315
Altra Holdings, Inc.		264		6,323
American Railcar Industries, Inc.		165		6,491
Ampco-Pittsburgh Corp.		615		11,328
Astec Industries, Inc.		177		6,252
Barnes Group, Inc.		257		6,142
Blount International, Inc.*		380		6,479
Briggs & Stratton Corp.(b)		269		6,383
Cascade Corp.		87		5,618
Chart Industries, Inc.*		87		5,759
CIRCOR International, Inc.		147		6,101
CLARCOR, Inc.		256		12,918
Columbus McKinnon Corp.*		346		6,546
Commercial Vehicle Group, Inc.*		679		5,493
Douglas Dynamics, Inc.		412		5,430
Dynamic Materials Corp.		829		13,778
Eastern Co. (The)		744		11,636
Energy Recovery, Inc.*		1,653		6,166
EnPro Industries, Inc.*		139		6,183
ESCO Technologies, Inc.		155		6,381
Federal Signal Corp.*		787		6,327
Flow International Corp.*		1,629		6,141
FreightCar America, Inc.		248		6,148
Gorman-Rupp Co.(The)		191		5,804
Graham Corp.		273		6,325
Greenbrier Cos., Inc.*		278		5,541
Hardinge, Inc.		557		6,283
Hurco Cos., Inc.*		239		7,094
Hyster-Yale Materials Handling, Inc.		124		6,222
John Bean Technologies Corp.		329		6,149
Kadant, Inc.*		210		5,643
Kaydon Corp.		495		12,276
LB Foster Co. - Class A		268		11,607
Lindsay Corp.		73		6,792
Lydall, Inc.*		395		6,036
Meritor, Inc.*		1,031		4,701
Met-Pro Corp.		583		6,046
Middleby Corp.*		43		6,078
Miller Industries, Inc.		375		5,730
Mueller Industries, Inc.		239		12,753
Mueller Water Products, Inc. - Series A		2,082		12,305
NN, Inc.*		1,306		12,094
PMFG, Inc.*		752		6,324
Proto Labs, Inc.*		156		6,416
RBC Bearings, Inc.*		235		12,392
Rexnord Corp.*		550		10,989
Robbins & Myers, Inc.		95		5,537
Sauer-Danfoss, Inc.		109		5,850
Sun Hydraulics Corp.		214		5,906
Tennant Co.		134		6,169
Titan International, Inc.(b)		259		6,291
Trimas Corp.*		212		6,549
Twin Disc, Inc.		321		7,361
Wabash National Corp.*		609		6,303
Watts Water Technologies, Inc. - Class A		134		6,177
Woodward, Inc.		153		5,877
Total Machinery				427,836

	Shares		Value
Marine 0.1%
Genco Shipping & Trading Ltd.*		1,728	$	5,772
International Shipholding Corp.		334		6,379
Rand Logistics, Inc.*		859		5,807
Total Marine				17,958
Media 1.4%
Arbitron, Inc.		105		4,925
Belo Corp. - Class A		665		5,633
Carmike Cinemas, Inc.*		361		5,758
Central European Media Enterprises Ltd. - Class A*		860		5,083
Crown Media Holdings, Inc. - Class A*		2,648		4,846
Cumulus Media, Inc. - Class A*		1,834		5,961
Daily Journal Corp.*		53		5,271
Digital Generation, Inc.*		439		4,394
E.W. Scripps Co. - Class A*		464		5,099
Entercom Communications Corp. - Class A*		707		5,614
Entravision Communications Corp. - Class A		3,075		5,781
Fisher Communications, Inc.		187		6,635
Global Sources Ltd.*		872		7,150
Harte-Hanks, Inc.		852		6,978
Journal Communications, Inc. - Class A*		873		4,784
LIN TV Corp. - Class A*		692		7,384
Lions Gate Entertainment Corp.*		312		5,716
Live Nation Entertainment, Inc.*		523		5,366
Martha Stewart Living Omnimedia - Class A*		1,919		5,584
McClatchy Co.(The) - Class A*		1,645		4,803
MDC Partners, Inc.		483		6,149
Meredith Corp.(b)		143		5,185
National CineMedia, Inc.		349		5,333
New York Times Co.(The) - Class A*		570		5,050
Nexstar Broadcasting Group, Inc. - Class A*		473		6,802
Outdoor Channel Holdings, Inc.		660		5,095
ReachLocal, Inc.*		450		5,904
Reading International, Inc. - Class A*		816		4,757
Rentrak Corp.*		236		4,833
Saga Communications, Inc. - Class A		133		6,251
Salem Communications Corp. - Class A		959		5,591
Scholastic Corp.		171		5,072
Shutterstock, Inc.*		215		5,424
Sinclair Broadcast Group, Inc. - Class A		426		5,870
Valassis Communications, Inc.(b)		183		5,135
World Wrestling Entertainment, Inc. - Class A		608		5,204
Total Media				200,420
Metals & Mining 2.5%
A.M. Castle & Co.*		398		6,706
AK Steel Holding Corp.		2,546		10,184
AMCOL International Corp.		365		10,778
Century Aluminum Co.*		1,343		11,563
Coeur d’Alene Mines Corp.*		510		11,067
General Moly, Inc.*		2,830		10,443
Globe Specialty Metals, Inc.		770		11,673
Gold Reserve, Inc.*		3,835		11,122
Gold Resource Corp.		745		10,207
Golden Minerals Co.*		2,475		8,588
Golden Star Resources Ltd.*(b)		6,477		10,298
Haynes International, Inc.		221		11,298
Hecla Mining Co.		2,042		10,721
Horsehead Holding Corp.*		1,175		11,703

11

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Kaiser Aluminum Corp.		192	$	11,935
Materion Corp.		500		13,450
McEwen Mining, Inc.*(b)		3,060		9,578
Metals USA Holdings Corp.		692		12,442
Midway Gold Corp.*		8,700		11,310
Noranda Aluminum Holding Corp.		1,854		10,920
Olympic Steel, Inc.		550		11,555
Paramount Gold and Silver Corp.*		5,205		11,503
RTI International Metals, Inc.*		435		12,354
Schnitzer Steel Industries, Inc. - Class A		373		10,847
Stillwater Mining Co.*		974		13,110
SunCoke Energy, Inc.*		884		14,657
Universal Stainless & Alloy*		318		11,362
US Antimony Corp.*		6,136		13,131
US Silica Holdings, Inc.(b)		715		14,350
Vista Gold Corp.*		4,467		10,140
Worthington Industries, Inc.		463		12,723
Total Metals & Mining				351,718
Multi-Utilities 0.8%
Avista Corp.		1,143		29,558
Black Hills Corp.		759		30,626
CH Energy Group, Inc.		426		27,690
NorthWestern Corp.		782		28,926
Total Multi-Utilities				116,800
Multiline Retail 0.2%
Bon-Ton Stores, Inc.(The)		423		5,309
Fred’s, Inc. - Class A		365		4,825
Gordmans Stores, Inc.*		328		3,916
Saks, Inc.*		452		4,886
Tuesday Morning Corp.*		792		6,653
Total Multiline Retail				25,589
Oil, Gas & Consumable Fuels 7.1%
Abraxas Petroleum Corp.*(b)		6,748		14,508
Alon USA Energy, Inc.		974		19,110
Apco Oil and Gas International, Inc.		911		11,870
Approach Resources, Inc.*		536		14,252
Arch Coal, Inc.(b)		1,828		13,015
Berry Petroleum Co. - Class A		400		14,728
Bill Barrett Corp.*		694		11,083
Bonanza Creek Energy, Inc.*		522		16,119
BPZ Resources, Inc.*		5,316		16,745
Callon Petroleum Co.*		3,018		15,543
Carrizo Oil & Gas, Inc.*		637		13,683
Clayton Williams Energy, Inc.*		348		13,868
Clean Energy Fuels Corp.*		1,067		13,668
Cloud Peak Energy, Inc.*		700		12,257
Comstock Resources, Inc.*		863		12,591
Contango Oil & Gas Co.		330		14,167
Crosstex Energy, Inc.		1,013		17,120
CVR Energy, Inc.*		290		17,038
Delek US Holdings, Inc.		532		18,072
Diamondback Energy, Inc.*		162		3,632
Endeavour International Corp.*		2,699		14,683
Energy XXI (Bermuda) Ltd.		429		13,436
EPL Oil & Gas, Inc.*		638		15,605
Evolution Petroleum Corp.*		1,741		16,383
Forest Oil Corp.*		1,958		13,628
Frontline Ltd.*		1,588		5,510
FX Energy, Inc.*		3,175		12,668
GasLog Ltd.		475		6,042
Goodrich Petroleum Corp.*		1,522		15,129
Green Plains Renewable Energy, Inc.*		1,689		13,191
Gulfport Energy Corp.*		356		14,692

	Shares		Value
Halcon Resources Corp.*		1,912	$	14,608
Harvest Natural Resources, Inc.*		1,511		14,022
Isramco, Inc.*		141		14,345
KiOR, Inc. - Class A*(b)		2,040		11,220
Knightsbridge Tankers Ltd.		1,066		7,121
Kodiak Oil & Gas Corp.*		1,522		14,002
Magnum Hunter Resources Corp.*		3,423		13,829
Matador Resources Co.*		1,720		13,588
McMoRan Exploration Co.*		899		14,213
Midstates Petroleum Co., Inc.*		1,941		13,781
Miller Energy Resources, Inc.*		3,423		13,795
Nordic American Tankers Ltd.		624		5,391
Northern Oil and Gas, Inc.*		829		13,712
Oasis Petroleum, Inc.*		454		16,290
Panhandle Oil and Gas, Inc. - Class A		493		14,095
PDC Energy, Inc.*		402		14,886
Penn Virginia Corp.		3,025		12,977
Petroquest Energy, Inc.*		2,841		14,603
Quicksilver Resources, Inc.*		4,128		11,311
Rentech, Inc.		4,399		13,505
Resolute Energy Corp.*		1,671		14,220
REX American Resources Corp.*		739		16,140
Rex Energy Corp.*		1,112		14,601
Rosetta Resources, Inc.*		314		16,648
Sanchez Energy Corp.*		762		15,225
Scorpio Tankers, Inc.*		875		7,376
SemGroup Corp. - Class A*		367		15,840
Ship Finance International Ltd.		355		5,985
Solazyme, Inc.*		1,649		12,945
Stone Energy Corp.*		700		15,750
Swift Energy Co.*		862		12,990
Synergy Resources Corp.*		2,757		17,093
Targa Resources Corp.		277		16,720
Teekay Tankers Ltd. - Class A(b)		1,788		5,114
Triangle Petroleum Corp.*		2,383		14,989
Uranerz Energy Corp.*(b)		8,328		12,242
Uranium Energy Corp.*		4,501		10,127
Vaalco Energy, Inc.*		1,599		13,576
W&T Offshore, Inc.		782		13,763
Warren Resources, Inc.*		5,296		16,047
Western Refining, Inc.		458		15,403
Westmoreland Coal Co.*		1,373		13,785
Total Oil, Gas & Consumable Fuels				981,909
Paper & Forest Products 0.9%
Buckeye Technologies, Inc.		409		11,759
Clearwater Paper Corp.*		295		13,366
Deltic Timber Corp.		167		12,117
KapStone Paper and Packaging Corp.		572		13,728
Louisiana-Pacific Corp.*		634		12,319
Neenah Paper, Inc.		399		12,345
PH Glatfelter Co.		672		12,486
Resolute Forest Products*(b)		902		12,303
Schweitzer-Mauduit International, Inc.		307		12,507
Wausau Paper Corp.		1,319		12,755
Total Paper & Forest Products				125,685
Personal Products 0.8%
Elizabeth Arden, Inc.*		101		3,879
Inter Parfums, Inc.		245		5,319
Medifast, Inc.*		907		22,249
Nature’s Sunshine Products, Inc.		1,836		26,475
Prestige Brands Holdings, Inc.*		274		5,877
Revlon, Inc. - Class A*		335		5,276
Star Scientific, Inc.*(b)		8,999		18,898

12

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
USANA Health Sciences, Inc.*		726	$	25,737
Total Personal Products				113,710
Pharmaceuticals 1.6%
Akorn, Inc.*		412		5,393
Ampio Pharmaceuticals, Inc.*		1,496		5,580
Auxilium Pharmaceuticals, Inc.*		291		5,354
AVANIR Pharmaceuticals, Inc. - Class A*(b)		2,028		5,922
BioDelivery Sciences International, Inc.*		1,298		5,659
Cadence Pharmaceuticals, Inc.*		1,163		5,501
Corcept Therapeutics, Inc.*		3,510		7,617
Cornerstone Therapeutics, Inc.*		1,138		6,202
Cumberland Pharmaceuticals, Inc.*		1,268		5,326
Depomed, Inc.*		946		6,631
Endocyte, Inc.*		563		5,647
Hi-Tech Pharmacal Co., Inc.		154		5,636
Horizon Pharma, Inc.*		2,360		5,027
Impax Laboratories, Inc.*		264		5,322
Jazz Pharmaceuticals PLC*		104		5,865
Lannett Co., Inc.*		1,118		6,686
MAP Pharmaceuticals, Inc.*		360		8,917
Medicines Co.(The)*		241		7,201
Nektar Therapeutics*		782		6,702
Obagi Medical Products, Inc.*		398		5,719
Omeros Corp.*		830		4,532
Optimer Pharmaceuticals, Inc.*		567		5,262
Pacira Pharmaceuticals, Inc.*		338		6,550
Pain Therapeutics, Inc.*		2,082		5,705
Pernix Therapeutics Holdings*		701		5,671
Pozen, Inc.*		1,045		5,549
Questcor Pharmaceuticals, Inc.(b)		186		4,739
Repros Therapeutics, Inc.*		372		4,393
Sagent Pharmaceuticals, Inc.*		334		5,311
Santarus, Inc.*		500		6,680
Sciclone Pharmaceuticals, Inc.*		1,228		6,422
Sucampo Pharmaceuticals, Inc. - Class A*		1,108		5,751
Transcept Pharmaceuticals, Inc.*		1,043		6,091
ViroPharma, Inc.*		229		6,105
Vivus, Inc.*		416		5,038
XenoPort, Inc.*		661		5,546
Zogenix, Inc.*		3,968		5,635
Total Pharmaceuticals				216,887
Professional Services 1.5%
Acacia Research Corp.*		206		5,259
Advisory Board Co.(The)*		114		6,182
Barrett Business Services, Inc.		153		6,157
CBIZ, Inc.*(b)		986		5,975
CDI Corp.		336		5,719
Corporate Executive Board Co.(The)		117		5,863
CRA International, Inc.*		303		5,633
Dolan Co.(The)*		1,257		4,412
Exponent, Inc.*		105		5,133
Franklin Covey Co.*		415		5,760
FTI Consulting, Inc.*		172		5,590
GP Strategies Corp.*		274		5,864
Heidrick & Struggles International, Inc.		380		6,008
Hill International, Inc.*		1,541		5,255
Hudson Global, Inc.*		1,224		5,887
Huron Consulting Group, Inc.*		166		5,661
ICF International, Inc.*		237		5,425
Insperity, Inc.		172		5,784
Kelly Services, Inc. - Class A		371		5,914
Kforce, Inc.		416		5,724
Korn/Ferry International*		357		6,133

	Shares		Value
Mistras Group, Inc.*		252	$	5,549
Navigant Consulting, Inc.*		515		5,938
Odyssey Marine Exploration, Inc.*		2,054		6,316
On Assignment, Inc.*		285		6,968
Pendrell Corp.*		22,788		33,271
Resources Connection, Inc.		469		5,727
RPX Corp.*		635		6,623
TrueBlue, Inc.*		391		6,721
VSE Corp.		245		5,882
WageWorks, Inc.*		311		6,208
Total Professional Services				208,541
Real Estate Investment Trusts (REITs) 2.6%
Acadia Realty Trust		121		3,163
AG Mortgage Investment Trust, Inc.		125		3,175
Agree Realty Corp.		117		3,318
Alexander’s, Inc.		7		2,330
American Assets Trust, Inc.		114		3,295
American Capital Mortgage Investment Corp.		120		3,130
AmREIT, Inc.		178		3,131
Anworth Mortgage Asset Corp.		529		3,312
Apollo Commercial Real Estate Finance, Inc.		180		3,143
Apollo Residential Mortgage, Inc.		139		3,147
Ares Commercial Real Estate Corp.		184		3,183
ARMOUR Residential REIT, Inc.		464		3,332
Ashford Hospitality Trust, Inc.		309		3,581
Associated Estates Realty Corp.		197		3,182
Campus Crest Communities, Inc.		254		3,068
CapLease, Inc.		565		3,271
Capstead Mortgage Corp.		256		3,169
Cedar Realty Trust, Inc.		555		3,058
Chatham Lodging Trust		205		3,229
Chesapeake Lodging Trust		152		3,245
Colonial Properties Trust		148		3,243
Colony Financial, Inc.		153		3,293
Coresite Realty Corp.		114		3,363
Cousins Properties, Inc.		367		3,266
CreXus Investment Corp.		246		3,269
CubeSmart		210		3,202
CYS Investments, Inc.		236		3,068
DCT Industrial Trust, Inc.		474		3,346
DiamondRock Hospitality Co.		339		3,092
DuPont Fabros Technology, Inc.		127		3,002
Dynex Capital, Inc.		311		3,144
EastGroup Properties, Inc.		57		3,194
Education Realty Trust, Inc.		292		3,139
EPR Properties		66		3,093
Equity One, Inc.		146		3,301
Excel Trust, Inc.		239		3,007
FelCor Lodging Trust, Inc.*		708		3,809
First Industrial Realty Trust, Inc.*		221		3,463
First Potomac Realty Trust		254		3,480
Franklin Street Properties Corp.		249		3,237
Getty Realty Corp.		173		3,266
Gladstone Commercial Corp.		172		3,184
Glimcher Realty Trust		283		3,147
Government Properties Income Trust		131		3,255
Gramercy Capital Corp.*		1,089		3,910
Gyrodyne Co. of America, Inc.		41		3,008
Healthcare Realty Trust, Inc.		129		3,287
Hersha Hospitality Trust		649		3,427
Highwoods Properties, Inc.		93		3,348
Hudson Pacific Properties, Inc.		152		3,257
Inland Real Estate Corp.		362		3,287

13

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Invesco Mortgage Capital, Inc.		146	$	3,168
Investors Real Estate Trust		349		3,267
iStar Financial, Inc.*		376		3,643
JAVELIN Mortgage Investment Corp.		266		5,253
Kite Realty Group Trust		574		3,473
LaSalle Hotel Properties		123		3,358
Lexington Realty Trust		305		3,355
LTC Properties, Inc.		90		3,352
Medical Properties Trust, Inc.		260		3,497
Monmouth Real Estate Investment Corp. - Class A		307		3,334
National Health Investors, Inc.		54		3,437
New York Mortgage Trust, Inc.		463		3,241
NorthStar Realty Finance Corp.		450		3,510
Omega Healthcare Investors, Inc.		134		3,425
One Liberty Properties, Inc.		150		3,312
Parkway Properties, Inc.		224		3,548
Pebblebrook Hotel Trust		137		3,413
Pennsylvania Real Estate Investment Trust		173		3,190
Pennymac Mortgage Investment Trust		124		3,298
Potlatch Corp.		78		3,384
PS Business Parks, Inc.		47		3,354
RAIT Financial Trust		559		3,852
Ramco-Gershenson Properties Trust		228		3,447
Redwood Trust, Inc.		186		3,553
Resource Capital Corp.		521		3,241
Retail Opportunity Investments Corp.		236		3,080
RLJ Lodging Trust		161		3,367
Rouse Properties, Inc.		189		3,451
Ryman Hospitality Properties		157		6,275
Sabra Health Care REIT, Inc.		142		3,563
Saul Centers, Inc.		71		3,035
Select Income REIT		126		3,171
Sovran Self Storage, Inc.		49		3,197
Spirit Realty Capital, Inc.		1,684		32,771
STAG Industrial, Inc.		170		3,352
Starwood Property Trust, Inc.		131		3,359
Strategic Hotels & Resorts, Inc.*		477		3,487
Summit Hotel Properties, Inc.		342		3,143
Sun Communities, Inc.		78		3,350
Sunstone Hotel Investors, Inc.*		297		3,436
Terreno Realty Corp.		197		3,290
Two Harbors Investment Corp.		265		3,291
UMH Properties, Inc.		305		3,157
Universal Health Realty Income Trust		63		3,473
Urstadt Biddle Properties, Inc. - Class A		160		3,238
Washington Real Estate Investment Trust		116		3,304
Western Asset Mortgage Capital Corp.		147		3,183
Whitestone REIT		221		3,138
Winthrop Realty Trust		278		3,322
Total Real Estate Investment Trusts (REITs)				363,187
Real Estate Management & Development 0.2%
AV Homes, Inc.*		202		3,008
Consolidated-Tomoka Land Co.		95		3,419
Forestar Group, Inc.*		182		3,463
Kennedy-Wilson Holdings, Inc.		228		3,418
Tejon Ranch Co.*		110		3,362
Thomas Properties Group, Inc.		566		2,915
Zillow, Inc.*(b)		112		4,238
Total Real Estate Management & Development				23,823
Road & Rail 0.8%
Amerco, Inc.		41		5,513
Arkansas Best Corp.		614		6,459

	Shares		Value
Avis Budget Group, Inc.*		248	$	5,339
Celadon Group, Inc.		323		6,399
Genesee & Wyoming, Inc. - Class A*		76		6,428
Heartland Express, Inc.		443		6,127
Knight Transportation, Inc.		394		6,284
Marten Transport Ltd.		311		6,332
Old Dominion Freight Line, Inc.*		168		6,263
Patriot Transportation Holding, Inc.*		205		5,283
Quality Distribution, Inc.*		911		6,750
Roadrunner Transportation Systems, Inc.*		333		6,697
Saia, Inc.*		254		6,589
Swift Transportation Co.*		633		8,647
Universal Truckload Services, Inc.		350		6,279
Werner Enterprises, Inc.		266		6,283
Zipcar, Inc.*		593		7,240
Total Road & Rail				108,912
Semiconductors & Semiconductor Equipment 3.1%
Advanced Energy Industries, Inc.*		434		6,662
Alpha & Omega Semiconductor Ltd.*		583		4,728
Ambarella, Inc.*		471		4,691
Amkor Technology, Inc.*(b)		1,136		5,260
Anadigics, Inc.*		2,467		6,365
Applied Micro Circuits Corp.*		612		5,245
ATMI, Inc.*		242		4,939
Axcelis Technologies, Inc.*		3,672		4,957
AXT, Inc.*		1,650		4,587
Brooks Automation, Inc.		619		5,794
Cabot Microelectronics Corp.		336		12,419
Cavium, Inc.*		146		4,882
CEVA, Inc.*		308		4,675
Cirrus Logic, Inc.*		172		4,856
Cohu, Inc.		448		4,695
Cymer, Inc.*		55		5,663
Diodes, Inc.*		286		5,440
DSP Group, Inc.*		835		5,478
Entegris, Inc.*		532		5,246
Entropic Communications, Inc.*		904		4,737
Exar Corp.*		558		5,853
First Solar, Inc.*		438		12,343
Formfactor, Inc.*		1,050		5,250
GSI Technology, Inc.*		829		5,513
GT Advanced Technologies, Inc.*		4,572		14,448
Hittite Microwave Corp.*		79		4,849
Inphi Corp.*		530		4,256
Integrated Device Technology, Inc.*		706		5,104
Integrated Silicon Solution, Inc.*		523		4,901
Intermolecular, Inc.*		615		5,769
International Rectifier Corp.*		273		5,321
Intersil Corp. - Class A		590		5,103
IXYS Corp.		526		5,071
Kopin Corp.*		1,424		4,927
Lattice Semiconductor Corp.*		1,259		5,603
LTX-Credence Corp.*		756		4,642
M/A-COM Technology Solutions Holdings, Inc.*		342		5,793
Mattson Technology, Inc.*		5,314		6,961
MaxLinear, Inc. - Class A*		896		4,641
MEMC Electronic Materials, Inc.*		1,494		6,215
Micrel, Inc.		517		5,382
Microsemi Corp.*		233		4,874
Mindspeed Technologies, Inc.*		1,123		5,525
MIPS Technologies, Inc.*		626		4,920
MKS Instruments, Inc.		193		5,365
Monolithic Power Systems, Inc.		220		5,126
MoSys, Inc.*		1,484		5,342

14

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Nanometrics, Inc.*		329	$	5,136
NeoPhotonics Corp.*		857		4,962
NVE Corp.*		87		4,785
Omnivision Technologies, Inc.*		342		5,257
PDF Solutions, Inc.*		336		5,047
Peregrine Semiconductor Corp.*		301		3,606
Pericom Semiconductor Corp.*		583		4,122
Photronics, Inc.*		915		5,481
PLX Technology, Inc.*		1,085		5,056
Power Integrations, Inc.		144		5,386
QuickLogic Corp.*		2,430		5,127
Rambus, Inc.*		922		5,034
RF Micro Devices, Inc.*		1,069		5,345
Rubicon Technology, Inc.*		727		4,885
Rudolph Technologies, Inc.*		386		5,207
Semtech Corp.*		171		5,157
Sigma Designs, Inc.*		891		4,758
Silicon Image, Inc.*		1,007		4,884
Spansion, Inc. - Class A*		373		4,290
SunPower Corp.*		2,715		21,150
Supertex, Inc.		270		5,162
Tessera Technologies, Inc.		303		5,318
TriQuint Semiconductor, Inc.*		1,009		5,297
Ultra Clean Holdings*		1,033		5,795
Ultratech, Inc.*		140		5,702
Veeco Instruments, Inc.*		163		5,126
Volterra Semiconductor Corp.*		278		4,570
Total Semiconductors & Semiconductor Equipment				422,061
Software 2.3%
Accelrys, Inc.*		598		5,633
ACI Worldwide, Inc.*		114		5,420
Actuate Corp.*		890		5,011
Advent Software, Inc.*		138		3,402
American Software, Inc. - Class A		626		5,384
Aspen Technology, Inc.*		183		5,600
AVG Technologies NV*		312		4,274
Blackbaud, Inc.		217		5,408
Bottomline Technologies , Inc.*		194		5,641
BroadSoft, Inc.*		139		4,722
Callidus Software, Inc.*		1,083		4,527
CommVault Systems, Inc.*		69		5,294
Comverse Technology, Inc.*		1,331		5,803
Comverse, Inc.*		179		5,169
Digimarc Corp.		233		4,989
Ebix, Inc.		288		4,706
Ellie Mae, Inc.*		181		3,625
Eloqua, Inc.*		263		6,178
EPIQ Systems, Inc.		383		4,726
ePlus, Inc.		120		5,591
Exa Corp.*		489		4,895
Fair Isaac Corp.		72		3,245
FalconStor Software, Inc.*		2,152		5,767
FleetMatics Group PLC*		214		5,365
Glu Mobile, Inc.*(b)		1,969		5,100
Guidance Software, Inc.*		419		5,342
Guidewire Software, Inc.*		153		5,067
Imperva, Inc.*		151		5,179
Infoblox, Inc.*		261		4,920
Interactive Intelligence Group, Inc.*		154		6,194
Jive Software, Inc.*		349		5,350
Manhattan Associates, Inc.*		85		5,823
Mentor Graphics Corp.*		296		5,070
MicroStrategy, Inc. - Class A*		51		5,114
Monotype Imaging Holdings, Inc.		301		5,442
Netscout Systems, Inc.*		197		5,128

	Shares		Value
Pegasystems, Inc.		213	$	5,123
Pervasive Software, Inc.*		546		4,996
Progress Software Corp.*		231		5,422
Proofpoint, Inc.*		407		5,352
PROS Holdings, Inc.*		269		5,934
PTC, Inc.*		212		4,914
QAD, Inc. - Class A		363		5,042
QLIK Technologies, Inc.*		234		5,197
Qualys, Inc.*		227		2,974
RealPage, Inc.*(b)		230		5,368
Rosetta Stone, Inc.*		403		5,223
Sapiens International Corp. NV		1,194		5,970
SeaChange International, Inc.*		503		5,608
Sourcefire, Inc.*		104		4,430
SS&C Technologies Holdings, Inc.*		214		4,843
Synchronoss Technologies, Inc.*		243		5,786
Take-Two Interactive Software, Inc.*		386		4,698
Tangoe, Inc.*		395		5,708
TeleNav, Inc.*		636		5,024
TiVo, Inc.*		388		5,176
Tyler Technologies, Inc.*		101		5,459
Ultimate Software Group, Inc.*		51		5,179
VASCO Data Security International, Inc.*		597		4,836
Verint Systems, Inc.*		171		5,780
VirnetX Holding Corp.*		137		4,784
Websense, Inc.*		321		4,696
Total Software				317,626
Specialty Retail 2.2%
Aeropostale, Inc.*		355		4,803
America’s Car-Mart, Inc.*		127		5,057
ANN, Inc.*		144		4,441
Asbury Automotive Group, Inc.*		160		5,690
Barnes & Noble, Inc.*		312		4,162
Bebe Stores, Inc.		1,238		5,175
Big 5 Sporting Goods Corp.		383		5,312
Body Central Corp.*		496		3,943
Brown Shoe Co., Inc.		261		4,500
Buckle, Inc.(The)		112		5,239
Cabela’s, Inc.*		128		6,607
Casual Male Retail Group, Inc.*		1,324		6,077
Cato Corp.(The) - Class A		181		4,990
Children’s Place Retail Stores, Inc.(The)*		109		5,432
Citi Trends, Inc.*		354		4,581
Conn’s, Inc.*		163		4,636
Destination Maternity Corp.		227		5,169
Express, Inc.*		332		6,102
Finish Line, Inc.(The) - Class A		274		5,107
Five Below, Inc.*		143		5,291
Francesca’s Holdings Corp.*		185		5,254
Genesco, Inc.*		93		5,797
Group 1 Automotive, Inc.		81		5,487
Haverty Furniture Cos., Inc.		310		5,580
hhgregg, Inc.*		618		5,241
Hibbett Sports, Inc.*		91		4,792
HOT Topic, Inc.		496		5,506
JOS A Bank Clothiers, Inc.*		113		4,581
Kirkland’s, Inc.*		487		5,635
Lithia Motors, Inc. - Class A		137		5,928
Lumber Liquidators Holdings, Inc.*		96		5,681
MarineMax, Inc.*		563		6,576
Mattress Firm Holding Corp.*		201		5,636
Men’s Wearhouse, Inc.(The)		160		4,856
Monro Muffler Brake, Inc.		148		5,360
New York & Co., Inc.*		1,391		5,439
Office Depot, Inc.*		1,399		6,058

15

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
OfficeMax, Inc.		494	$	5,325
Penske Automotive Group, Inc.		167		5,498
Pep Boys- Manny, Moe & Jack		492		5,476
Pier 1 Imports, Inc.		239		5,184
RadioShack Corp.(b)		2,220		7,304
Rent-A-Center, Inc.		136		4,852
Restoration Hardware Holdings, Inc.*		167		6,012
Rue21, Inc.*		168		4,991
Select Comfort Corp.*		192		4,228
Shoe Carnival, Inc.		250		5,117
Sonic Automotive, Inc. - Class A		239		5,800
Stage Stores, Inc.		196		4,479
Stein Mart, Inc.		682		5,756
Systemax, Inc.		522		5,110
Tilly’s, Inc.*		356		5,276
Vitamin Shoppe, Inc.*		84		5,131
West Marine, Inc.*		461		5,523
Wet Seal, Inc.(The) - Class A*		1,787		5,004
Winmark Corp.		85		5,498
Zumiez, Inc.*		249		5,254
Total Specialty Retail				302,539
Textiles, Apparel & Luxury Goods 1.0%
Cherokee, Inc.		329		4,649
Columbia Sportswear Co.		92		4,700
Crocs, Inc.*		347		5,156
Culp, Inc.		817		14,298
Delta Apparel, Inc.*		354		5,115
Fifth & Pacific Cos., Inc.*		387		5,844
G-III Apparel Group Ltd.*		141		5,061
Iconix Brand Group, Inc.*		226		5,435
Jones Group, Inc.(The)		430		5,160
K-Swiss, Inc. - Class A*		1,528		7,197
Maidenform Brands, Inc.*		256		4,969
Movado Group, Inc.		156		5,703
Oxford Industries, Inc.		103		5,086
Perry Ellis International, Inc.		233		4,497
Quiksilver, Inc.*		1,238		8,097
R.G. Barry Corp.		361		4,830
Skechers U.S.A., Inc. - Class A*		259		4,921
Steven Madden Ltd.*		112		5,161
True Religion Apparel, Inc.		193		4,576
Tumi Holdings, Inc.*		216		4,858
Unifi, Inc.*		858		11,583
Vera Bradley, Inc.*		194		4,906
Warnaco Group, Inc.(The)*		69		5,051
Wolverine World Wide, Inc.		121		5,203
Total Textiles, Apparel & Luxury Goods				142,056
Thrifts & Mortgage Finance 1.4%
Astoria Financial Corp.		311		3,029
Bank Mutual Corp.		728		3,735
BankFinancial Corp.		412		3,111
Beneficial Mutual Bancorp, Inc.*		323		3,023
Berkshire Hills Bancorp, Inc.		130		3,146
BofI Holding, Inc.*		111		3,548
Brookline Bancorp, Inc.		366		3,225
Cape Bancorp, Inc.		359		3,263
Charter Financial Corp.		290		3,294
Clifton Savings Bancorp, Inc.		269		3,131
Dime Community Bancshares, Inc.		220		3,038
Doral Financial Corp.*		4,547		2,997
ESB Financial Corp.		222		3,095
ESSA Bancorp, Inc.		290		3,193
EverBank Financial Corp.		205		2,991

	Shares		Value
Federal Agricultural Mortgage Corp. - Class C		95	$	3,259
First Defiance Financial Corp.		173		3,543
First Federal Bancshares of Arkansas, Inc.*		335		3,300
First Financial Holdings, Inc.		223		3,378
First Financial Northwest, Inc.*		426		3,455
First Pactrust Bancorp, Inc.		252		2,964
Flushing Financial Corp.		198		3,136
Fox Chase Bancorp, Inc.		185		3,184
Franklin Financial Corp.		179		3,102
Heritage Financial Group, Inc.		224		3,138
Hingham Institution for Savings		49		3,403
Home Bancorp, Inc.*		167		3,188
Home Federal Bancorp, Inc.		257		3,305
Home Loan Servicing Solutions Ltd.		157		3,413
HomeStreet, Inc.*		123		3,102
Kearny Financial Corp.		330		3,333
Meridian Interstate Bancorp, Inc.*		179		3,129
MGIC Investment Corp.*		1,250		3,475
NASB Financial, Inc.*		143		3,243
Nationstar Mortgage Holdings, Inc.*		101		3,645
Northfield Bancorp, Inc.		266		2,977
Northwest Bancshares, Inc.		252		3,074
OceanFirst Financial Corp.		223		3,164
Ocwen Financial Corp.*		86		3,351
Oritani Financial Corp.		202		3,058
Peoples Federal Bancshares, Inc.		175		3,119
Provident Financial Holdings, Inc.		187		3,112
Provident Financial Services, Inc.		206		3,055
Provident New York Bancorp		329		2,938
Radian Group, Inc.		580		3,729
Rockville Financial, Inc.		231		2,975
Roma Financial Corp.		337		5,082
SI Financial Group, Inc.		271		3,154
Simplicity Bancorp, Inc.		206		2,971
Territorial Bancorp, Inc.		133		3,047
Tree.com, Inc.		176		3,077
TrustCo Bank Corp. NY		578		3,058
United Financial Bancorp, Inc.		195		2,919
ViewPoint Financial Group, Inc.		147		3,109
Walker & Dunlop, Inc.*		184		3,952
Waterstone Financial, Inc.*		415		3,104
Westfield Financial, Inc.		416		3,137
WSFS Financial Corp.		72		3,274
Total Thrifts & Mortgage Finance				187,950
Tobacco 0.6%
Alliance One International, Inc.*		8,007		28,985
Universal Corp.		572		31,106
Vector Group Ltd.		1,865		28,982
Total Tobacco				89,073
Trading Companies & Distributors 1.0%
Aceto Corp.		1,179		12,309
Aircastle Ltd.		464		6,403
Applied Industrial Technologies, Inc.		139		6,110
Beacon Roofing Supply, Inc.*		350		12,649
CAI International, Inc.*		281		7,048
DXP Enterprises, Inc.*		122		6,942
Edgen Group, Inc.*		1,982		15,836
H&E Equipment Services, Inc.		376		7,249
Houston Wire & Cable Co.		501		5,987
Kaman Corp.		155		5,633
Rush Enterprises, Inc. - Class A*		281		6,648
SeaCube Container Leasing Ltd.		304		6,983

16

GUGGENHEIM RUSSELL 2000® EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (concluded)	January 31, 2013

	Shares		Value
TAL International Group, Inc.		160	$	6,704
Textainer Group Holdings Ltd.		180		7,461
Titan Machinery, Inc.*		227		6,563
Watsco, Inc.		155		11,679
Willis Lease Finance Corp.*		392		5,774
Total Trading Companies & Distributors				137,978
Transportation Infrastructure 0.0%(a)
Wesco Aircraft Holdings, Inc.*		422		5,836
Total Transportation Infrastructure				5,836
Water Utilities 1.3%
American States Water Co.		582		29,420
California Water Service Group		1,516		29,562
Connecticut Water Service, Inc.		931		27,595
Middlesex Water Co.		1,449		27,980
SJW Corp.		1,069		28,991
York Water Co.		1,590		30,051
Total Water Utilities				173,599
Wireless Telecommunication Services 0.7%
Leap Wireless International, Inc.*		4,187		24,201
NTELOS Holdings Corp.		2,082		26,920
Shenandoah Telecommunications Co.		1,677		24,585
USA Mobility, Inc.		2,238		25,871
Total Wireless Telecommunication Services				101,577
Total Common Stocks (Cost $13,222,611)				13,693,559
SHORT TERM INVESTMENTS 0.8%
SSgA Government Money Market Fund		112,821		112,821
Total Short Term Investments (Cost $112,821)				112,821
	Face Amount
SECURITIES LENDING COLLATERAL 1.6%(c)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(d)	$	66,328		66,328
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(d)		66,328		66,328
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(d)		94,436		94,436
Total Securities Lending Collateral (Cost $227,092)				227,092
Total Investments 101.6%(e) (Cost $13,562,524)				14,033,472
Other Assets and Liabilities, net – (1.6)%				(221,610	)
Net Assets – 100.0%			$	13,811,862

* Non-Income Producing Security.

(a) Amount represents less than 0.05% of net assets.

(b) All or a portion of this security was on loan as of January 31, 2013

(c) Securities lending collateral (Note H).

(d) Values determined based on Level 2 inputs (Note G).

(e) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

17

GUGGENHEIM MSCI EAFE EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 99.7%
Aerospace & Defense 1.2%
BAE Systems PLC		2,712	$	14,602
Cobham PLC		4,263		14,308
European Aeronautic Defence and Space Co. NV		426		20,010
Finmeccanica SpA*		2,661		17,482
Meggitt PLC		2,280		15,725
Rolls-Royce Holdings PLC - Class C*		990		14,848
Safran SA		357		16,387
Thales SA		393		14,145
Zodiac Aerospace		133		14,547
Total Aerospace & Defense				142,054
Air Freight & Logistics 0.5%
Deutsche Post AG		678		15,917
TNT Express NV		1,422		10,923
Toll Holdings Ltd.		2,991		16,441
Yamato Holdings Co., Ltd.		900		15,158
Total Air Freight & Logistics				58,439
Airlines 1.0%
All Nippon Airways Co., Ltd.		6,000		11,768
Cathay Pacific Airways Ltd.		7,878		15,298
Deutsche Lufthansa AG		834		16,556
International Consolidated Airlines Group SA*		5,127		17,371
Qantas Airways Ltd.*		10,771		17,189
Ryanair Holdings PLC ADR		405		15,775
Singapore Airlines Ltd.		3,000		26,636
Total Airlines				120,593
Auto Components 1.8%
Aisin Seiki Co., Ltd.		600		19,645
Bridgestone Corp.		600		15,733
Cie Generale des Etablissements Michelin - Class B		153		14,232
Continental AG		130		15,255
Denso Corp.		300		11,243
GKN PLC		3,957		15,107
NHK Spring Co., Ltd.		1,800		15,799
NOK Corp.		900		13,461
Nokian Renkaat OYJ		342		14,711
Pirelli & C SpA		1,218		14,938
Stanley Electric Co., Ltd.		900		14,744
Sumitomo Rubber Industries Ltd.		1,200		16,029
Toyota Boshoku Corp.		1,500		19,658
Toyota Industries Corp.		600		19,954
Total Auto Components				220,509
Automobiles 2.1%
Bayerische Motoren Werke AG		159		16,004
Daimler AG		288		16,761
Fiat SpA*		3,102		18,948
Honda Motor Co., Ltd.		300		11,522
Isuzu Motors Ltd.		3,000		18,836
Mazda Motor Corp.*		9,000		24,260
Mitsubishi Motors Corp.*		15,000		15,615
Nissan Motor Co., Ltd.		1,500		15,385
Peugeot SA*		2,253		17,566
Porsche Automobil Holding SE		195		16,967
Renault SA		285		17,182
Suzuki Motor Corp.		600		15,733
Toyota Motor Corp.		300		14,349

	Shares		Value
Volkswagen AG		66	$	16,319
Yamaha Motor Co., Ltd.		1,200		15,266
Total Automobiles				250,713
Beverages 1.3%
Anheuser-Busch InBev NV		162		14,051
Asahi Group Holdings Ltd.		600		12,748
Carlsberg A/S - Class B		144		15,404
Coca-Cola Amatil Ltd.		978		14,118
Diageo PLC		468		13,927
Heineken Holding NV		255		15,066
Heineken NV		210		14,763
Pernod-Ricard SA		124		15,519
Remy Cointreau SA		123		15,693
SABMiller PLC		306		15,282
Treasury Wine Estates Ltd.		2,646		13,110
Total Beverages				159,681
Biotechnology 0.5%
Actelion Ltd.*		285		14,117
CSL Ltd.		258		14,785
Elan Corp. PLC ADR*		1,374		14,441
Grifols SA*		462		15,709
Prothena Corp. PLC*		33		198
Total Biotechnology				59,250
Building Products 0.9%
Asahi Glass Co., Ltd.		3,000		19,921
Assa Abloy AB - Series B		393		14,699
Cie de St-Gobain		351		14,470
Daikin Industries Ltd.		300		11,473
Geberit AG*		66		15,425
LIXIL Group Corp.		600		13,965
TOTO Ltd.		3,000		23,800
Total Building Products				113,753
Capital Markets 2.3%
3i Group PLC		4,119		17,188
Aberdeen Asset Management PLC		2,631		16,785
Credit Suisse Group AG*		597		17,638
Daiwa Securities Group, Inc.		3,000		17,456
Deutsche Bank AG		318		16,493
Hargreaves Lansdown PLC		1,158		12,686
ICAP PLC		2,985		15,438
Investec PLC		2,286		16,741
Julius Baer Group Ltd.*		411		16,815
Macquarie Group Ltd.		420		16,866
Mediobanca SpA		2,532		18,611
Nomura Holdings, Inc.		3,300		19,020
Partners Group Holding AG		68		15,960
Ratos AB		1,458		14,046
SBI Holdings, Inc.		1,810		15,014
Schroders PLC		580		17,794
UBS AG*		900		15,598
Total Capital Markets				280,149
Chemicals 4.9%
Air Liquide SA		114		14,568
Akzo Nobel NV		246		16,826
Arkema SA		138		15,735
Asahi Kasei Corp.		3,000		17,357
BASF SE		162		16,418
Croda International PLC		372		14,296
Daicel Corp.		3,000		21,006
Denki Kagaku Kogyo KK		3,000		10,848
EMS-Chemie Holding AG		60		15,255

GUGGENHEIM MSCI EAFE EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Givaudan SA*		15	$	16,672
Hitachi Chemical Co., Ltd.		900		12,692
Incitec Pivot Ltd.		4,314		14,534
Israel Chemicals Ltd.		1,201		15,881
Israel Corp., Ltd.(The)		21		14,308
Johnson Matthey PLC		372		13,359
JSR Corp.		900		17,811
K+S AG		315		14,217
Koninklijke DSM NV		243		14,894
Kuraray Co., Ltd.		1,200		15,437
Lanxess AG		173		14,606
Linde AG		83		15,142
Mitsubishi Chemical Holdings Corp.		3,000		13,938
Mitsubishi Gas Chemical Co., Inc.		3,000		20,086
Mitsui Chemicals, Inc.		6,000		14,267
Nitto Denko Corp.		300		16,963
Novozymes A/S - Series B		513		16,837
Orica Ltd.		564		15,078
Shin-Etsu Chemical Co., Ltd.		300		18,376
Showa Denko KK		9,000		13,807
Sika AG		6		15,130
Solvay SA		102		16,033
Sumitomo Chemical Co., Ltd.		6,000		17,554
Syngenta AG		37		15,966
Taiyo Nippon Sanso Corp.		3,000		20,118
Teijin Ltd.		6,000		13,807
Toray Industries, Inc.		3,000		17,357
Ube Industries Ltd.		6,000		12,492
Yara International ASA		285		15,176
Total Chemicals				594,847
Commercial Banks 7.5%
Aozora Bank Ltd.		6,000		16,897
Australia & New Zealand Banking Group Ltd.		555		15,387
Banca Monte dei Paschi di Siena SpA*		53,661		17,962
Banco Bilbao Vizcaya Argentaria SA		1,776		17,659
Banco de Sabadell SA*		5,184		13,884
Banco Espirito Santo SA*		13,803		19,579
Banco Popolare SC*		9,549		19,896
Banco Popular Espanol SA		16,584		14,947
Banco Santander SA		1,912		16,037
Bank Hapoalim BM*		3,414		14,341
Bank Leumi Le-Israel BM*		4,188		13,929
Bank of East Asia Ltd.		3,600		14,808
Bank of Yokohama Ltd.(The)		3,000		14,366
Bankia SA(a)		11,457		7,947
Banque Cantonale Vaudoise		27		14,419
Barclays PLC		3,567		17,022
Bendigo and Adelaide Bank Ltd.		1,674		16,099
BNP Paribas SA		255		15,995
BOC Hong Kong Holdings Ltd.		4,500		15,521
CaixaBank(a)		3,729		14,715
Chiba Bank Ltd.(The)		3,000		18,738
Commerzbank AG*		8,232		18,035
Commonwealth Bank of Australia		231		15,529
Credit Agricole SA*		1,851		18,291
Danske Bank A/S*		840		16,107
DnB ASA		1,145		15,979
Erste Group Bank AG*		489		16,452
Fukuoka Financial Group, Inc.		3,000		12,656
Hang Seng Bank Ltd.		900		14,738
Hiroshima Bank Ltd.(The)		3,000		12,788
HSBC Holdings PLC		1,472		16,726
Intesa Sanpaolo SpA		8,505		17,340
KBC Groep NV		465		18,327

	Shares		Value
Lloyds Banking Group PLC*		18,747	$	15,355
Mitsubishi UFJ Financial Group, Inc.		3,000		17,127
Mizuho Financial Group, Inc.		8,700		17,446
National Australia Bank Ltd.		558		15,924
National Bank of Greece SA ADR*		7,835		12,144
Natixis		4,422		17,533
Nordea Bank AB		1,527		16,834
Oversea-Chinese Banking Corp., Ltd.		3,000		23,703
Raiffeisen Bank International AG		339		15,211
Resona Holdings, Inc.		3,300		14,717
Royal Bank of Scotland Group PLC*		2,931		15,953
Seven Bank Ltd.		5,400		13,077
Shinsei Bank Ltd.		9,000		18,442
Skandinaviska Enskilda Banken AB - Class A		1,722		17,252
Societe Generale*		390		17,615
Standard Chartered PLC		597		15,878
Sumitomo Mitsui Financial Group, Inc.		300		12,064
Sumitomo Mitsui Trust Holdings, Inc.		6,000		22,222
Svenska Handelsbanken AB		396		16,181
Swedbank AB		762		17,963
UniCredit SpA*		3,030		19,561
Unione di Banche Italiane SCPA		3,588		18,731
Westpac Banking Corp.		531		15,530
Total Commercial Banks				909,579
Commercial Services & Supplies 1.4%
Aggreko PLC		387		9,799
Babcock International Group PLC		893		14,696
Brambles Ltd.		1,851		15,658
Edenred		482		15,447
G4S PLC		3,519		15,471
Park24 Co., Ltd.		900		16,282
Secom Co., Ltd.		300		14,990
Securitas AB		1,815		16,957
Serco Group PLC		1,602		14,084
Societe BIC SA		111		14,941
Toppan Printing Co., Ltd.		3,000		18,639
Total Commercial Services & Supplies				166,964
Communications Equipment 0.3%
Nokia OYJ		4,353		17,029
Telefonaktiebolaget LM Ericsson - Class B		1,524		17,723
Total Communications Equipment				34,752
Computers & Peripherals 0.3%
Fujitsu Ltd.		3,000		12,163
Gemalto NV		163		14,510
Toshiba Corp.		3,000		13,346
Total Computers & Peripherals				40,019
Construction & Engineering 1.8%
ACS Actividades de Construccion y Servicios SA		691		16,574
Balfour Beatty PLC		3,453		14,524
Bouygues SA		579		16,434
Ferrovial SA		957		15,335
Hochtief AG*		278		18,124
Kajima Corp.		6,000		18,014
Koninklijke Boskalis Westminster NV		333		15,246
Leighton Holdings Ltd.		780		16,825
Obayashi Corp.		3,000		15,418
Shimizu Corp.		6,000		19,461
Skanska AB - Class B		882		14,984
Taisei Corp.		6,000		17,949

2

GUGGENHEIM MSCI EAFE EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Vinci SA		318	$	16,198
Total Construction & Engineering				215,086
Construction Materials 1.1%
Boral Ltd.		3,532		18,089
CRH PLC ADR		777		16,721
Fletcher Building Ltd.		2,175		17,400
HeidelbergCement AG		267		16,813
Holcim Ltd.*		213		16,574
James Hardie Industries PLC		1,497		15,927
Lafarge SA		246		15,036
Taiheiyo Cement Corp.		6,000		16,371
Total Construction Materials				132,931
Consumer Finance 0.3%
Acom Co., Ltd.*		510		13,345
Aeon Credit Service Co., Ltd.		600		12,452
Credit Saison Co., Ltd.		600		12,709
Total Consumer Finance				38,506
Containers & Packaging 0.4%
Amcor Ltd.		1,683		14,746
Rexam PLC		1,782		13,236
Toyo Seikan Kaisha Ltd.		1,200		15,345
Total Containers & Packaging				43,327
Distributors 0.1%
Li & Fung Ltd.		8,000		11,244
Total Distributors				11,244
Diversified Consumer Services 0.1%
Benesse Holdings, Inc.		300		13,116
Total Diversified Consumer Services				13,116
Diversified Financial Services 2.0%
ASX Ltd.		459		16,757
Deutsche Boerse AG		245		16,114
Exor SpA		570		16,859
First Pacific Co., Ltd.		11,910		15,326
Groupe Bruxelles Lambert SA		189		15,778
Hong Kong Exchanges and Clearing Ltd.		900		17,070
ING Groep NV*		1,566		15,834
Investment AB Kinnevik - Class B		729		16,796
Investor AB - Series B		627		17,796
London Stock Exchange Group PLC		894		17,065
Mitsubishi UFJ Lease & Finance Co., Ltd.		330		15,025
ORIX Corp.		150		16,059
Pohjola Bank PLC - Series A		1,005		17,202
Singapore Exchange Ltd.		3,000		18,880
Wendel SA		153		16,598
Total Diversified Financial Services				249,159
Diversified Telecommunication Services 3.1%
Belgacom SA		474		14,464
Bezeq The Israeli Telecommunication Corp., Ltd.		11,463		13,427
BT Group PLC		3,795		14,958
Deutsche Telekom AG		1,275		15,670
Elisa OYJ		666		15,839
France Telecom SA		1,320		14,983
HKT Trust & HKT Ltd.		14,000		13,051
Iliad SA		81		15,008
Inmarsat PLC		1,497		15,309
Koninklijke KPN NV		2,412		13,574
Nippon Telegraph & Telephone Corp.		300		12,590
Portugal Telecom SGPS SA		3,027		17,668
Singapore Telecommunications Ltd.		6,000		16,966

	Shares		Value
Swisscom AG		33	$	14,624
TDC A/S		2,082		15,927
Telecom Corp. of New Zealand Ltd.		7,224		14,721
Telecom Italia SpA		15,369		15,271
Telefonica SA		1,068		15,483
Telekom Austria AG		2,079		15,389
Telenet Group Holding NV		306		14,475
Telenor ASA		737		16,222
TeliaSonera AB		2,082		15,015
Telstra Corp., Ltd.		3,249		15,589
Vivendi SA		660		14,146
Ziggo NV		438		13,969
Total Diversified Telecommunication Services				374,338
Electric Utilities 2.5%
Acciona SA		222		17,846
Cheung Kong Infrastructure Holdings Ltd.		2,322		14,731
Chubu Electric Power Co., Inc.		900		11,391
Chugoku Electric Power Co., Inc.(The)		900		11,854
CLP Holdings Ltd.		1,500		12,755
EDF SA		774		14,861
EDP - Energias de Portugal SA		5,595		18,037
Enel SpA		3,672		16,010
Fortum OYJ		780		14,622
Hokkaido Electric Power Co., Inc.		1,500		14,398
Hokuriku Electric Power Co.		1,200		13,254
Iberdrola SA		2,820		15,204
Kansai Electric Power Co., Inc.(The)		1,500		14,300
Kyushu Electric Power Co., Inc.		1,500		14,448
Power Assets Holdings Ltd.		1,500		12,997
Red Electrica Corp. SA		300		16,700
Shikoku Electric Power Co., Inc.		900		11,045
SSE PLC		615		13,836
Terna Rete Elettrica Nazionale SpA		3,692		15,556
Tohoku Electric Power Co., Inc.*		1,500		12,229
Tokyo Electric Power Co., Inc.(The)*		9,000		21,006
Total Electric Utilities				307,080
Electrical Equipment 1.5%
ABB Ltd.*		752		16,122
Alstom SA		378		16,773
Fuji Electric Co., Ltd.		6,000		14,070
Furukawa Electric Co., Ltd.*		6,000		12,163
GS Yuasa Corp.		3,000		10,717
Legrand SA		348		15,789
Mitsubishi Electric Corp.		3,000		24,885
Nidec Corp.		300		17,225
Prysmian SpA		741		15,852
Schneider Electric SA		204		15,535
Sumitomo Electric Industries Ltd.		1,200		13,531
Ushio, Inc.		1,200		12,991
Total Electrical Equipment				185,653
Electronic Equipment, Instruments & Components 1.8%
Citizen Holdings Co., Ltd.		3,000		17,258
FUJIFILM Holdings Corp.		900		17,969
Hamamatsu Photonics KK		300		11,489
Hexagon AB - Class B		564		15,139
Hitachi High-Technologies Corp.		600		11,959
Hitachi Ltd.		3,000		17,817
Hoya Corp.		600		11,604
Ibiden Co., Ltd.		1,200		17,134
Kyocera Corp.		300		27,186
Murata Manufacturing Co., Ltd.		300		18,508
Omron Corp.		600		14,293
Shimadzu Corp.		3,000		20,118

3

GUGGENHEIM MSCI EAFE EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
TDK Corp.		300	$	11,128
Yokogawa Electric Corp.		1,200		13,399
Total Electronic Equipment, Instruments & Components				225,001
Energy Equipment & Services 1.4%
Aker Solutions ASA		747		16,306
AMEC PLC		843		14,448
Cie Generale de Geophysique - Veritas*		459		13,330
Fugro NV		237		14,359
Petrofac Ltd.		559		14,517
Saipem SpA		318		9,022
Seadrill Ltd.		363		14,342
Subsea 7 SA		609		14,706
Technip SA		127		13,767
Tenaris SA		702		14,713
Transocean Ltd.		306		17,359
WorleyParsons Ltd.		546		14,369
Total Energy Equipment & Services				171,238
Food & Staples Retailing 2.6%
Aeon Co., Ltd.		1,200		13,649
Carrefour SA		595		16,945
Casino Guichard Perrachon SA		156		15,278
Colruyt SA		300		14,540
Delhaize Group SA		384		18,199
Distribuidora Internacional de Alimentacion SA		2,229		16,472
FamilyMart Co., Ltd.		300		12,097
J Sainsbury PLC		2,580		13,527
Jeronimo Martins SGPS SA		772		16,405
Kesko OYJ		468		15,348
Koninklijke Ahold NV		1,104		16,214
Lawson, Inc.		300		21,795
Metcash Ltd.		3,816		15,165
Metro AG		498		15,368
Olam International Ltd.(a)		12,000		15,657
Seven & I Holdings Co., Ltd.		600		18,291
Tesco PLC		2,691		15,201
Wesfarmers Ltd.		375		14,707
WM Morrison Supermarkets PLC		3,297		13,120
Woolworths Ltd.		456		14,859
Total Food & Staples Retailing				312,837
Food Products 1.9%
Aryzta AG*		282		15,842
Associated British Foods PLC		616		17,081
Danone SA		222		15,380
Golden Agri-Resources Ltd.		27,000		13,851
Kerry Group PLC - Class A		279		14,641
MEIJI Holdings Co., Ltd.		300		13,314
Nestle SA		213		14,949
Nisshin Seifun Group, Inc.		1,500		18,294
Nissin Foods Holdings Co., Ltd.		300		11,423
Suedzucker AG		360		15,403
Tate & Lyle PLC		1,134		14,608
Unilever NV		372		15,048
Unilever PLC		374		15,221
Wilmar International Ltd.		6,000		18,517
Yakult Honsha Co., Ltd.		300		12,673
Total Food Products				226,245
Gas Utilities 1.0%
APA Group		2,600		15,648
Enagas SA		713		16,869
Gas Natural SDG SA		897		17,905

	Shares		Value
Hong Kong & China Gas Co., Ltd.		5,097	$	14,459
Osaka Gas Co., Ltd.		3,000		11,275
Snam SpA		3,144		15,893
Toho Gas Co., Ltd.		3,000		16,075
Tokyo Gas Co., Ltd.		3,000		14,168
Total Gas Utilities				122,292
Health Care Equipment & Supplies 1.4%
Cie Generale d’Optique Essilor International SA		144		14,677
Cochlear Ltd.		183		15,410
Coloplast A/S - Class B		300		15,828
Elekta AB		1,016		15,105
Getinge AB - Class B		441		13,598
Olympus Corp.*		900		19,990
Smith & Nephew PLC		1,332		15,342
Sonova Holding AG*		129		14,919
Sysmex Corp.		300		14,349
Terumo Corp.		300		13,149
William Demant Holding A/S*		171		14,992
Total Health Care Equipment & Supplies				167,359
Health Care Providers & Services 0.9%
Celesio AG		825		14,984
Fresenius Medical Care AG & Co. KGaA		207		14,591
Fresenius SE & Co. KGaA		123		14,968
Miraca Holdings, Inc.		300		12,541
Ramsay Health Care Ltd.		510		15,714
Sonic Healthcare Ltd.		1,008		14,373
Suzuken Co., Ltd.		600		18,422
Total Health Care Providers & Services				105,593
Health Care Technology 0.1%
M3, Inc.		9		14,704
Total Health Care Technology				14,704
Hotels, Restaurants & Leisure 2.3%
Accor SA		423		16,508
Carnival PLC		363		14,739
Compass Group PLC		1,206		14,608
Crown Ltd.		1,308		15,812
Echo Entertainment Group Ltd.		3,741		14,047
Flight Centre Ltd.		495		15,675
Galaxy Entertainment Group Ltd.*		3,648		16,440
Genting Singapore PLC		15,000		18,783
Intercontinental Hotels Group PLC		522		15,360
MGM China Holdings Ltd.		7,590		17,968
Sands China Ltd.		3,237		16,320
SJM Holdings Ltd.		6,000		16,363
Sodexo		174		15,489
TABCORP Holdings Ltd.		4,800		15,270
Tatts Group Ltd.		4,692		15,954
TUI Travel PLC		3,249		14,980
Whitbread PLC		379		15,443
Wynn Macau Ltd.*		4,824		13,529
Total Hotels, Restaurants & Leisure				283,288
Household Durables 1.3%
Casio Computer Co., Ltd.		1,800		15,542
Electrolux AB - Series B		553		14,601
Husqvarna AB		2,343		15,145
Panasonic Corp.		3,000		19,658
Rinnai Corp.		300		21,236
Sekisui Chemical Co., Ltd.		3,000		28,961
Sharp Corp.(a)		6,000		20,447

4

GUGGENHEIM MSCI EAFE EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Sony Corp.		1,500	$	22,387
Total Household Durables				157,977
Household Products 0.5%
Henkel AG & Co. KGaA		173		15,271
Reckitt Benckiser Group PLC		222		14,790
Svenska Cellulosa AB - Class B		725		17,569
Unicharm Corp.		300		15,943
Total Household Products				63,573
Independent Power Producers & Energy Traders 0.3%
Electric Power Development Co., Ltd.		600		13,787
Enel Green Power SpA		8,142		16,788
Total Independent Power Producers & Energy Traders				30,575
Industrial Conglomerates 1.0%
Fraser and Neave Ltd.		3,000		23,146
Keppel Corp., Ltd.		3,000		27,872
Koninklijke Philips Electronics NV		565		17,647
Orkla ASA		1,739		15,311
SembCorp Industries Ltd.		3,000		13,282
Siemens AG		136		14,923
Smiths Group PLC		798		15,524
Total Industrial Conglomerates				127,705
Insurance 4.6%
Admiral Group PLC		780		15,124
Aegon NV		2,612		17,472
Ageas		519		17,123
AIA Group Ltd.		3,600		14,320
Allianz SE		114		16,302
AMP Ltd.		2,907		16,131
Assicurazioni Generali SpA		834		15,974
Aviva PLC		2,527		14,692
AXA SA		908		16,812
Baloise Holding AG		176		15,928
Dai-ichi Life Insurance Co., Ltd.(The)		12		17,239
Delta Lloyd NV		963		18,941
Gjensidige Forsikring ASA		1,015		15,926
Hannover Rueckversicherung AG		189		15,254
Insurance Australia Group Ltd.		3,021		15,818
Legal & General Group PLC		6,348		15,338
Mapfre SA		5,271		16,249
MS&AD Insurance Group Holdings		900		18,925
Muenchener Rueckversicherungs AG		81		14,882
NKSJ Holdings, Inc.		600		12,630
Old Mutual PLC		5,133		15,251
Prudential PLC		1,039		15,781
QBE Insurance Group Ltd.		1,227		15,255
Resolution Ltd.		3,742		15,573
RSA Insurance Group PLC		7,497		15,654
Sampo OYJ		453		16,264
SCOR SE		533		15,338
Sony Financial Holdings, Inc.		900		15,227
Standard Life PLC		2,763		15,139
Suncorp Group Ltd.		1,392		15,390
Swiss Life Holding AG*		105		15,776
Swiss Re AG*		207		15,403
T&D Holdings, Inc.		1,200		14,846
Tokio Marine Holdings, Inc.		600		17,771
Zurich Insurance Group AG*		54		15,527
Total Insurance				555,275

	Shares		Value
Internet & Catalog Retail 0.1%
Rakuten, Inc.*		1,779	$	16,277
Total Internet & Catalog Retail				16,277
Internet Software & Services 0.4%
Dena Co., Ltd.		300		9,507
Gree, Inc.		900		13,412
United Internet AG		648		15,063
Yahoo Japan Corp.		42		16,545
Total Internet Software & Services				54,527
IT Services 0.9%
Amadeus IT Holding SA - Series A		597		14,972
AtoS		198		14,481
Cap Gemini SA		352		16,964
Computershare Ltd.		1,536		16,774
Itochu Techno-Solutions Corp.		300		13,051
Nomura Research Institute Ltd.		600		13,774
NTT Data Corp.		6		18,363
Total IT Services				108,379
Leisure Equipment & Products 0.8%
Namco Bandai Holdings, Inc.		900		12,850
Nikon Corp.		600		17,166
Sankyo Co., Ltd.		300		11,966
Sega Sammy Holdings, Inc.		900		15,937
Shimano, Inc.		300		20,513
Yamaha Corp.		1,500		15,911
Total Leisure Equipment & Products				94,343
Life Sciences Tools & Services 0.3%
Lonza Group AG*		294		17,308
QIAGEN NV*		741		15,560
Total Life Sciences Tools & Services				32,868
Machinery 4.8%
Alfa Laval AB		763		16,284
Amada Co., Ltd.		3,000		18,803
Andritz AG		219		14,416
Atlas Copco AB - Class A		546		15,557
Fiat Industrial SpA		1,314		16,918
GEA Group AG		429		15,548
Hino Motors Ltd.		3,000		31,558
Hitachi Construction Machinery Co., Ltd.		900		20,700
IHI Corp.		6,000		15,582
IMI PLC		846		15,693
Invensys PLC		2,862		15,609
Japan Steel Works Ltd.(The)		3,000		17,357
JTEKT Corp.		1,800		19,251
Kawasaki Heavy Industries Ltd.		6,000		18,606
Komatsu Ltd.		600		16,009
Kone OYJ - Class B		189		15,585
Kurita Water Industries Ltd.		600		11,808
Makita Corp.		300		14,645
MAN SE		132		15,911
Metso OYJ		367		16,425
Mitsubishi Heavy Industries Ltd.		3,000		16,075
Nabtesco Corp.		600		12,505
NSK Ltd.		3,000		21,269
Sandvik AB		974		15,628
Scania AB - Class B		672		13,782
Schindler Holding AG		104		15,420
SembCorp Marine Ltd.		3,000		11,464
SKF AB		595		14,756
Sulzer AG		98		15,413
Sumitomo Heavy Industries Ltd.		3,000		13,281

5

GUGGENHEIM MSCI EAFE EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
THK Co., Ltd.		900	$	15,661
Vallourec SA		281		15,274
Volvo AB - Class B		981		14,507
Wartsila OYJ		333		15,843
Weir Group PLC (The)		494		15,539
Yangzijiang Shipbuilding Holdings Ltd.		18,000		14,251
Total Machinery				582,933
Marine 0.7%
AP Moller - Maersk A/S - Class B		3		23,949
Kuehne + Nagel International AG		117		13,737
Mitsui OSK Lines Ltd.		6,000		19,790
Nippon Yusen KK		6,000		14,398
Orient Overseas International Ltd.		2,259		15,831
Total Marine				87,705
Media 2.0%
Axel Springer AG		321		15,006
British Sky Broadcasting Group PLC		1,128		14,620
Dentsu, Inc.		600		16,798
Eutelsat Communications SA		459		15,769
ITV PLC		8,865		16,135
Kabel Deutschland Holding AG		198		16,051
Lagardere SCA		471		17,026
Pearson PLC		744		14,084
ProSiebenSat. 1 Media AG		477		16,310
Publicis Groupe SA		256		16,768
Reed Elsevier NV		988		15,349
Reed Elsevier PLC		1,376		14,988
SES SA		501		15,332
Singapore Press Holdings Ltd.		3,000		9,937
Wolters Kluwer NV		729		14,774
WPP PLC		1,023		16,081
Total Media				245,028
Metals & Mining 4.2%
Alumina Ltd.		14,559		16,780
Anglo American PLC		498		14,895
Antofagasta PLC		678		12,276
ArcelorMittal		927		15,874
BHP Billiton Ltd.		393		15,364
BHP Billiton PLC		441		15,081
Boliden AB		783		14,471
Daido Steel Co., Ltd.		3,000		13,445
Eurasian Natural Resources Corp. PLC		3,165		16,549
Evraz PLC		3,660		16,741
Fortescue Metals Group Ltd.		3,482		16,997
Fresnillo PLC		438		11,514
Glencore International PLC		2,553		15,925
Iluka Resources Ltd.		1,632		16,546
JFE Holdings, Inc.		900		19,221
Kazakhmys PLC		1,233		14,270
Kobe Steel Ltd.*		15,000		18,573
Mitsubishi Materials Corp.		6,000		19,264
Newcrest Mining Ltd.		522		12,741
Nippon Steel & Sumitomo Metal		6,000		16,634
Norsk Hydro ASA		3,029		14,480
OZ Minerals Ltd.		1,860		13,464
Randgold Resources Ltd.		133		12,589
Rio Tinto Ltd.		234		16,197
Rio Tinto PLC		302		17,045
Salzgitter AG		306		14,255
Sims Metal Management Ltd.		1,521		14,913
ThyssenKrupp AG		684		16,610
Umicore SA		275		14,315
Vedanta Resources PLC		807		15,405

	Shares		Value
Voestalpine AG		448	$	16,401
Xstrata PLC		899		16,840
Yamato Kogyo Co., Ltd.		600		17,206
Total Metals & Mining				512,881
Multi-Utilities 1.0%
AGL Energy Ltd.		939		15,083
Centrica PLC		2,682		14,891
E.ON AG		774		13,453
GDF Suez		621		12,737
National Grid PLC		1,239		13,584
RWE AG		339		12,749
Suez Environnement Co.		1,290		17,074
Veolia Environnement SA		1,281		16,512
Total Multi-Utilities				116,083
Multiline Retail 1.2%
Don Quijote Co., Ltd.		300		11,966
Harvey Norman Holdings Ltd.		7,443		15,216
Isetan Mitsukoshi Holdings Ltd.		1,500		14,842
J Front Retailing Co., Ltd.		3,000		16,502
Marks & Spencer Group PLC		2,253		13,563
Marui Group Co., Ltd.		2,100		17,097
Next PLC		240		15,441
PPR		75		16,126
Takashimaya Co., Ltd.		3,000		22,124
Total Multiline Retail				142,877
Office Electronics 0.3%
Brother Industries Ltd.		1,500		15,960
Canon, Inc.		300		11,062
Konica Minolta Holdings, Inc.		1,500		11,949
Total Office Electronics				38,971
Oil, Gas & Consumable Fuels 2.6%
BG Group PLC		810		14,383
BP PLC		2,028		15,007
Caltex Australia Ltd.		726		14,706
Cosmo Oil Co., Ltd.		6,000		13,544
ENI SpA		591		14,833
Galp Energia SGPS SA - Class B		927		15,056
Inpex Corp.		3		17,423
Japan Petroleum Exploration Co.		300		11,078
JX Holdings, Inc.		2,700		15,976
Lundin Petroleum AB*		597		15,321
Neste Oil OYJ		1,169		18,645
OMV AG		391		16,113
Origin Energy Ltd.		1,236		16,231
Repsol YPF SA		645		14,398
Royal Dutch Shell PLC - Class A		420		14,923
Santos Ltd.		1,224		15,269
Showa Shell Sekiyu KK		2,400		13,938
Statoil ASA		570		15,150
Total SA		282		15,285
Tullow Oil PLC		636		11,475
Woodside Petroleum Ltd.		399		14,762
Total Oil, Gas & Consumable Fuels				313,516
Paper & Forest Products 0.5%
Nippon Paper Group, Inc.		1,200		17,081
Oji Holdings		3,000		9,730
Stora Enso OYJ - Series R		2,157		15,386
UPM-Kymmene OYJ		1,257		15,348
Total Paper & Forest Products				57,545

6

GUGGENHEIM MSCI EAFE EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Personal Products 0.5%
Beiersdorf AG		187	$	16,410
Kao Corp.		600		17,252
L’Oreal SA		107		15,890
Shiseido Co., Ltd.		900		12,495
Total Personal Products				62,047
Pharmaceuticals 3.2%
Astellas Pharma, Inc.		300		15,302
AstraZeneca PLC		297		14,376
Bayer AG		153		15,094
Chugai Pharmaceutical Co., Ltd.		600		12,367
Daiichi Sankyo Co., Ltd.		900		15,266
Dainippon Sumitomo Pharma Co., Ltd.		1,200		16,936
Eisai Co., Ltd.		300		13,149
GlaxoSmithKline PLC		651		14,919
Hisamitsu Pharmaceutical Co., Inc.		300		16,091
Merck KGaA		105		14,602
Mitsubishi Tanabe Pharma Corp.		900		12,101
Novartis AG		228		15,526
Novo Nordisk A/S		87		16,002
Ono Pharmaceutical Co., Ltd.		300		15,828
Orion OYJ - Class B		543		15,169
Otsuka Holdings Co., Ltd.		600		19,382
Roche Holding AG		74		16,369
Sanofi		157		15,314
Santen Pharmaceutical Co., Ltd.		300		12,377
Shionogi & Co., Ltd.		900		16,114
Shire PLC		483		16,181
Taisho Pharmaceutical Holdings Co., Ltd.		300		20,743
Takeda Pharmaceutical Co., Ltd.		300		15,450
Teva Pharmaceutical Industries Ltd. ADR		345		13,107
Tsumura & Co.		300		9,895
UCB SA		246		14,197
Total Pharmaceuticals				391,857
Professional Services 1.0%
Adecco SA*		300		17,232
ALS Ltd.		1,448		16,991
Bureau Veritas SA		126		15,087
Capita PLC		1,146		14,299
Experian PLC		838		14,362
Intertek Group PLC		294		14,492
Randstad Holding NV		426		17,660
SGS SA		6		14,287
Total Professional Services				124,410
Real Estate Investment Trusts (REITs) 2.9%
Ascendas Real Estate Investment Trust		6,000		12,264
British Land Co. PLC		1,617		14,408
CapitaCommercial Trust		12,000		16,142
Capital Shopping Centres Group PLC		2,538		14,333
CapitaMall Trust		9,000		15,414
CFS Retail Property Trust		6,870		14,331
Corio NV		318		15,438
Dexus Property Group		13,668		14,898
Federation Centres		6,201		15,070
Fonciere Des Regions		179		15,115
Gecina SA		123		13,941
Goodman Group		3,051		14,321
GPT Group		3,828		15,133
Hammerson PLC		1,869		14,392
Japan Retail Fund Investment Corp.		9		17,081
Klepierre		386		15,221
Land Securities Group PLC		1,095		13,941
Link REIT (The)		2,580		13,406

	Shares		Value
Mirvac Group		9,328	$	15,470
Segro PLC		3,765		14,816
Shopping Centres Australasia Property
Group*		85		145
Stockland		3,906		14,056
Unibail-Rodamco SE		60		14,175
Westfield Group		1,284		14,973
Westfield Retail Trust		4,494		15,047
Total Real Estate Investment Trusts (REITs)				353,531
Real Estate Management & Development 2.2%
Aeon Mall Co., Ltd.		600		14,497
CapitaLand Ltd.		6,000		19,389
Global Logistic Properties Ltd.		6,000		13,379
Hang Lung Properties Ltd.		3,000		11,315
Henderson Land Development Co., Ltd.		1,962		14,116
IMMOFINANZ AG*		3,540		15,511
Keppel Land Ltd.		6,000		20,650
Kerry Properties Ltd.		2,742		14,814
Lend Lease Group		1,596		17,246
New World Development Co., Ltd.		8,856		16,283
Nomura Real Estate Holdings, Inc.		900		16,440
Sino Land Co., Ltd.		6,000		11,218
Swire Pacific Ltd. - Class A		1,140		14,633
Swire Properties Ltd.		4,000		14,648
Swiss Prime Site AG*		180		15,213
Tokyu Land Corp.		3,000		21,433
Wharf Holdings Ltd.		1,848		16,322
Total Real Estate Management & Development				267,107
Road & Rail 1.8%
Asciano Ltd.		3,114		15,688
Aurizon Holdings Ltd.		3,741		15,491
Central Japan Railway Co.		300		26,299
DSV A/S		597		15,314
East Japan Railway Co.		300		20,316
Hankyu Hanshin Holdings, Inc.		3,000		16,404
Keio Corp.		3,000		22,321
Kintetsu Corp.		3,000		12,360
MTR Corp.		3,500		14,441
Nippon Express Co., Ltd.		3,000		12,426
Tobu Railway Co., Ltd.		3,000		16,141
Tokyu Corp.		3,000		16,338
West Japan Railway Co.		300		11,867
Total Road & Rail				215,406
Semiconductors & Semiconductor Equipment 1.3%
Advantest Corp.		1,200		16,318
ARM Holdings PLC		1,122		15,352
ASM Pacific Technology Ltd.		1,200		15,163
ASML Holding NV		222		16,664
Infineon Technologies AG		1,860		16,777
Mellanox Technologies Ltd.*		180		9,155
Rohm Co., Ltd.		600		19,987
STMicroelectronics NV		2,262		19,467
Sumco Corp.*		2,100		21,838
Tokyo Electron Ltd.		300		12,886
Total Semiconductors & Semiconductor Equipment				163,607
Software 1.0%
Dassault Systemes SA		130		14,449
Konami Corp.		600		12,722
Nexon Co., Ltd.*		1,186		12,489
NICE Systems Ltd. ADR*		420		15,494
Oracle Corp. Japan		300		12,524
Sage Group PLC (The)		2,795		14,300

7

GUGGENHEIM MSCI EAFE EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
SAP AG		180	$	14,743
Square Enix Holdings Co., Ltd.		900		11,193
Trend Micro, Inc.*		600		17,561
Total Software				125,475
Specialty Retail 0.9%
ABC-Mart, Inc.		300		11,440
Hennes & Mauritz AB		438		16,121
Inditex SA		102		14,289
Kingfisher PLC		3,165		13,533
Nitori Holdings Co., Ltd.		150		11,489
Sanrio Co., Ltd.		300		12,015
USS Co., Ltd.		120		13,491
Yamada Denki Co., Ltd.		390		15,043
Total Specialty Retail				107,421
Textiles, Apparel & Luxury Goods 1.1%
Adidas AG		161		14,959
Asics Corp.		900		12,830
Burberry Group PLC		663		14,264
Christian Dior SA		90		15,723
Cie Financiere Richemont SA - Class A		186		15,291
Hugo Boss AG		132		15,533
Luxottica Group SpA		342		15,733
LVMH Moet Hennessy Louis Vuitton SA		81		15,266
Swatch Group AG (The)		30		16,455
Total Textiles, Apparel & Luxury Goods				136,054
Tobacco 0.5%
British American Tobacco PLC		267		13,898
Imperial Tobacco Group PLC		348		12,938
Japan Tobacco, Inc.		596		18,593
Swedish Match AB		396		14,849
Total Tobacco				60,278
Trading Companies & Distributors 1.5%
Brenntag AG		108		15,386
Bunzl PLC		843		15,143
ITOCHU Corp.		1,500		16,995
Marubeni Corp.		3,000		22,058
Mitsubishi Corp.		600		12,676
Mitsui & Co., Ltd.		900		13,619
Noble Group Ltd.		15,000		14,784
Rexel SA		738		15,693
Sojitz Corp.		11,100		16,663
Sumitomo Corp.		1,200		15,542
Toyota Tsusho Corp.		600		14,287
Wolseley PLC		292		13,634
Total Trading Companies & Distributors				186,480
Transportation Infrastructure 1.1%
Abertis Infraestructuras SA		970		16,617
Aeroports de Paris		186		15,340
Atlantia SpA		825		15,264
Fraport AG Frankfurt Airport Services Worldwide		252		15,273
Groupe Eurotunnel SA		1,905		16,200
Hutchison Port Holdings Trust		18,000		14,760
Koninklijke Vopak NV		186		12,697
Sydney Airport		3,850		12,730
Transurban Group		2,160		13,743
Total Transportation Infrastructure				132,624
Water Utilities 0.2%
Severn Trent PLC		543		13,964

	Shares		Value
United Utilities Group PLC		1,269	$	14,727
Total Water Utilities				28,691
Wireless Telecommunication Services 0.7%
KDDI Corp.		300		22,354
Millicom International Cellular SA		165		15,195
NTT DoCoMo, Inc.		9		13,698
Softbank Corp.		300		10,717
Tele2 AB - Class B		807		14,471
Vodafone Group PLC		5,496		14,996
Total Wireless Telecommunication Services				91,431
Total Common Stocks (Cost $11,865,353)				12,135,756
PREFERRED STOCKS 0.0%(b)
Containers & Packaging 0.0%(b)
Rexam PLC		1,980		1,413
Total Containers & Packaging				1,413
Total PREFERRED STOCKS (Cost $1,408)				1,413
SHORT TERM INVESTMENTS 0.2%
SSgA Government Money Market Fund		21,467		21,467
Total Short Term Investments (Cost $21,467)				21,467
	Face Amount
SECURITIES LENDING COLLATERAL 0.1%(c)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(d)	$	5,101		5,101
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(d)		5,101		5,101
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(d)		7,263		7,263
Total Securities Lending Collateral (Cost $17,465)				17,465
Total Investments 100.0%(e) (Cost $11,905,693)				12,176,101
Other Assets and Liabilities, net – 0.0%				2,397
Net Assets – 100.0%			$	12,178,498

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Amount represents less than 0.05% of net assets.

(c) Securities lending collateral (Note H).

(d) Values determined based on Level 2 inputs (Note G).

(e) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

ADR - American Depositary Receipt

PLC - Public Limited Company

8

GUGGENHEIM MSCI EAFE EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (concluded)	January 31, 2013

INVESTMENT CONCENTRATION

At January 31, 2013, the investment diversification of the Fund was as follows:

COUNTRY	% OF TOTAL INVESTMENTS
Japan		31.33	%
Britain		11.86	%
Australia		8.33	%
France		7.94	%
Germany		6.04	%
Sweden		3.72	%
Switzerland		3.50	%
Italy		2.99	%
Hong Kong		2.86	%
Spain		2.82	%
Netherlands		2.77	%
Singapore		2.26	%
Finland		1.84	%
Belgium		1.41	%
Norway		1.02	%
Swaziland		1.00	%
Denmark		0.84	%
Israel		0.83	%
Austria		0.78	%
Portugal		0.71	%
Ireland		0.64	%
Luxembourg		0.62	%
Bermuda		0.61	%
Jersey		0.47	%
Slovenia		0.47	%
Niger Republic		0.46	%
Cayman Islands		0.37	%
United States		0.32	%
New Zealand		0.26	%
Georgia		0.24	%
Isle Of Man		0.15	%
Guernsey		0.13	%
Samoa		0.12	%
Mauritius		0.11	%
Greece		0.10	%
Iceland		0.08	%
Total Investments		100.00	%

9

GUGGENHEIM MSCI EMERGING MARKETS EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 82.6%
Aerospace & Defense 0.2%
Embraer SA ADR		548	$	18,068
Korea Aerospace Industries Ltd.		720		16,695
Total Aerospace & Defense				34,763
Air Freight & Logistics 0.1%
Hyundai Glovis Co., Ltd.		84		15,659
Total Air Freight & Logistics				15,659
Airlines 1.8%
Air China Ltd. - Class H		32,284		27,640
AirAsia BHD		41,200		36,864
China Airlines Ltd.*		52,400		22,982
China Southern Airlines Co., Ltd. - Class H		47,676		28,647
Eva Airways Corp.*		39,000		24,964
Gol Linhas Aereas Inteligentes SA ADR*		5,168		37,623
Korean Air Lines Co., Ltd.*		444		18,532
Latam Airlines Group SA ADR		1,088		26,645
Turk Hava Yollari*		8,296		30,843
Total Airlines				254,740
Auto Components 0.8%
Cheng Shin Rubber Industry Co. Ltd.		8,260		21,541
Hankook Tire Co., Ltd.*		435		17,857
Hyundai Mobis		68		17,797
Hyundai Wia Corp.		108		14,579
Mando Corp.		153		17,001
Nan Kang Rubber Tire Co., Ltd.		17,568		20,587
Total Auto Components				109,362
Automobiles 1.9%
Astra International Tbk PT		31,500		23,771
Brilliance China Automotive Holdings Ltd.*		17,712		23,797
Byd Co., Ltd. - Class H*		8,532		28,548
China Motor Corp.		24,000		21,865
Dongfeng Motor Group Co., Ltd. - Class H		16,000		26,118
Geely Automobile Holdings Ltd.		46,328		24,193
Great Wall Motor Co., Ltd. - Class H		6,468		26,312
Guangzhou Automobile Group Co., Ltd. - Class H		26,408		22,099
Hyundai Motor Co.		84		15,814
Kia Motors Corp.		327		15,525
Tofas Turk Otomobil Fabrikasi AS		3,980		23,983
Yulon Motor Co., Ltd.		12,000		22,272
Total Automobiles				274,297
Beverages 0.6%
Coca-Cola Femsa SAB de CV ADR		191		30,193
Fomento Economico Mexicano SAB de CV ADR		260		28,052
Grupo Modelo SAB de CV - Series C		2,808		23,907
Total Beverages				82,152
Building Products 0.1%
KCC Corp.		68		18,172
Total Building Products				18,172
Capital Markets 1.5%
China Everbright Ltd.		16,000		30,162
CITIC Securities Co., Ltd.		11,232		29,979

	Shares		Value
Daewoo Securities Co., Ltd.		1,840	$	20,193
Haitong Securities Co., Ltd. - Class H*		16,000		27,315
Hyundai Securities Co., Ltd.		2,440		19,875
Investec Ltd.		3,703		26,774
Samsung Securities Co., Ltd.		398		20,614
Woori Investment & Securities Co., Ltd.		1,840		20,868
Yuanta Financial Holding Co., Ltd.		41,068		22,254
Total Capital Markets				218,034
Chemicals 4.0%
Alpek SA de CV		9,700		24,106
Braskem SA ADR		1,574		23,925
Cheil Industries, Inc.		204		16,355
China Petrochemical Development Corp.		35,312		21,706
Formosa Chemicals & Fibre Corp.		8,000		21,730
Formosa Plastics Corp.		8,000		21,730
Hanwha Chemical Corp.		1,180		20,860
Hanwha Corp.		640		19,660
Huabao International Holdings Ltd.		50,000		27,206
Hyosung Corp.		288		16,874
Indorama Ventures PCL		24,710		21,752
Kumho Petro chemical Co., Ltd.		172		18,796
LCY Chemical Corp.		17,000		22,541
LG Chem Ltd.		64		17,896
Lotte Chemical Corp.		92		21,333
Mexichem SAB de CV		5,136		29,068
Nan Ya Plastics Corp.		12,000		24,385
OCI Co., Ltd.		130		19,997
Oriental Union Chemical Corp.		16,000		18,912
Petronas Chemicals Group BHD		19,600		37,534
PTT Global Chemical PCL		8,811		23,638
Sociedad Quimica y Minera de Chile SA ADR		432		24,555
Taiwan Fertilizer Co., Ltd.		8,000		19,833
TSRC Corp.		9,900		20,084
Uralkali OJSC GDR		648		24,715
Yingde Gases		21,272		23,862
Total Chemicals				583,053
Commercial Banks 11.1%
ABSA Group Ltd.		1,322		25,380
Agricultural Bank of China Ltd. - Class H		48,664		26,480
Akbank TAS		5,116		25,884
Asya Katilim Bankasi AS*		21,280		26,977
Banco de Chile		162,467		27,060
Banco Santander Brasil SA ADR		1,620		12,020
Banco Santander Chile ADR		908		27,422
BanColombia SA ADR		1,144		79,519
Bangkok Bank PCL		3,541		26,124
Bank Central Asia Tbk PT		25,684		25,447
Bank Mandiri (Persero) Tbk PT		28,000		26,016
Bank Negara Indonesia Persero Tbk PT		64,500		25,992
Bank of Ayudhya PCL		18,429		21,630
Bank of China Ltd. - Class H		50,620		24,933
Bank of Communications Co., Ltd. - Class H		29,444		24,981
Bank Pekao SA		772		37,945
Bank Rakyat Indonesia Persero Tbk PT		31,500		25,711
BDO Unibank, Inc.*		34,365		64,954
BS Financial Group, Inc.		1,600		21,158
Chang Hwa Commercial Bank		39,088		21,578
China Citic Bank Corp., Ltd. - Class H		41,520		28,321
China Construction Bank Corp. - Class H		27,752		23,939
China Development Financial Holding Corp.*		94,000		25,978

GUGGENHEIM MSCI EMERGING MARKETS EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
China Merchants Bank Co., Ltd. - Class H		11,204	$	26,842
China Minsheng Banking Corp., Ltd. - Class H		21,896		31,451
Chinatrust Financial Holding Co., Ltd.		39,168		22,419
Chongqing Rural Commercial Bank Co., Ltd. - Class H		46,592		27,695
CIMB Group Holdings BHD		15,600		36,201
Commercial International Bank Egypt SAE GDR		9,076		46,741
Credicorp Ltd.		185		28,995
E.Sun Financial Holding Co., Ltd.		40,200		23,009
First Financial Holding Co., Ltd.		34,632		21,112
Grupo Financiero Banorte SAB de CV - Class O		4,328		29,859
Hana Financial Group, Inc.		600		21,489
Hua Nan Financial Holdings Co., Ltd.		40,100		23,156
Industrial & Commercial Bank of China - Class H		31,600		23,795
Industrial Bank of Korea		1,720		19,428
Kasikornbank PCL		3,228		21,650
KB Financial Group, Inc. ADR*		564		19,920
Komercni Banka AS		118		23,793
Korea Exchange Bank*		2,960		20,605
Krung Thai Bank PCL		30,397		23,547
Malayan Banking BHD		12,800		36,583
Mega Financial Holding Co., Ltd.		26,956		22,048
Nedbank Group Ltd.		1,031		22,478
OTP Bank PLC		1,508		32,396
Powszechna Kasa Oszczednosci Bank Polski SA		3,460		38,695
Shinhan Financial Group Co., Ltd. ADR*		576		21,594
Siam Commercial Bank PCL		3,622		21,742
Standard Bank Group Ltd.		1,696		22,150
Taishin Financial Holding Co., Ltd.		59,193		23,456
Turkiye Garanti Bankasi AS		5,277		26,459
Turkiye Halk Bankasi AS		2,542		25,144
Turkiye Is Bankasi		7,461		27,569
Turkiye Vakiflar Bankasi Tao		9,908		28,951
VTB Bank OJSC GDR		7,264		26,550
Woori Finance Holdings Co., Ltd.		1,960		23,039
Yapi ve Kredi Bankasi AS*		9,672		28,371
Total Commercial Banks				1,594,381
Communications Equipment 0.2%
ZTE Corp. - Class H		14,040		27,155
Total Communications Equipment				27,155
Computers & Peripherals 1.6%
Acer, Inc.*		24,000		21,174
Asustek Computer, Inc.		1,928		22,071
Catcher Technology Co., Ltd.		4,000		17,882
Compal Electronics, Inc.		28,000		20,341
Foxconn Technology Co., Ltd.		5,300		15,491
Lenovo Group Ltd.		24,000		24,973
Lite-On Technology Corp.		15,868		22,840
Pegatron Corp.*		16,000		21,188
Quanta Computer, Inc.		8,000		18,668
Simplo Technology Co., Ltd.		4,400		20,490
Wistron Corp.		19,800		22,934
Total Computers & Peripherals				228,052
Construction & Engineering 2.4%
Aveng Ltd.		6,904		24,152
China Communications Construction Co., Ltd. - Class H		24,012		24,367

	Shares		Value
China Railway Construction Corp., Ltd. - Class H		19,664	$	21,247
China Railway Group Ltd. - Class H		38,408		21,889
CTCI Corp.		11,805		22,589
Daelim Industrial Co., Ltd.		248		21,112
Daewoo Engineering & Construction Co., Ltd.*		2,080		17,287
Doosan Heavy Industries and Construction Co., Ltd.		485		20,733
GS Engineering & Construction Corp.		358		18,312
Hyundai Development Co.		960		20,586
Hyundai Engineering & Construction Co., Ltd.		288		18,143
IJM Corp. BHD		23,600		38,283
Larsen & Toubro Ltd. GDR		412		12,006
Orascom Construction Industries GDR*		1,352		50,700
Samsung Engineering Co., Ltd.		130		18,564
Total Construction & Engineering				349,970
Construction Materials 1.9%
Anhui Conch Cement Co., Ltd. - Class H		6,560		25,756
Asia Cement Corp.		16,496		20,979
BBMG Corp. - Class H		25,468		23,775
Cemex SAB de CV ADR*		2,754		29,881
China National Building Material Co., Ltd. - Class H		16,768		26,767
China Resources Cement Holdings Ltd.		34,820		22,314
China Shanshui Cement Group Ltd.		31,968		23,495
Indocement Tunggal Prakarsa Tbk PT		10,072		22,491
Semen Gresik Persero Tbk PT		15,776		25,511
Siam Cement PCL		1,600		24,896
Taiwan Cement Corp.		16,296		22,021
Total Construction Materials				267,886
Consumer Finance 0.1%
Samsung Card Co., Ltd.		520		17,096
Total Consumer Finance				17,096
Distributors 0.3%
Dah Chong Hong Holdings Ltd.		20,500		23,684
Imperial Holdings Ltd.		929		20,268
Total Distributors				43,952
Diversified Financial Services 1.4%
African Bank Investments Ltd.		5,753		19,867
AMMB Holdings BHD		18,400		37,665
Chailease Holding Co., Ltd.		10,000		26,756
FirstRand Ltd.		6,780		24,477
Fubon Financial Holding Co., Ltd.		18,788		24,021
Haci Omer Sabanci Holding AS		4,648		26,819
Remgro Ltd.		1,306		23,875
RMB Holdings Ltd.		5,076		24,388
Total Diversified Financial Services				207,868
Diversified Telecommunication Services 1.9%
China Telecom Corp., Ltd. - Class H		40,000		21,765
China Unicom Hong Kong Ltd. ADR		1,372		21,938
Chunghwa Telecom Co., Ltd. ADR		656		20,972
KT Corp. ADR*		1,040		17,618
LG Uplus Corp.		2,640		19,735
Oi SA ADR		4,264		17,525
Telefonica Brasil SA ADR		340		8,561
Telefonica Czech Republic AS		1,348		23,265
Telekom Malaysia BHD		21,200		37,869
Telekomunikacja Polska SA		10,200		39,528
Telekomunikasi Indonesia Tbk PT ADR		620		24,583

2

GUGGENHEIM MSCI EMERGING MARKETS EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Turk Telekomunikasyon AS		6,452	$	27,068
Total Diversified Telecommunication Services				280,427
Electric Utilities 1.7%
Centrais Eletricas Brasileiras SA ADR		6,652		23,615
CEZ AS		704		22,757
Cia Energetica de Minas Gerais ADR		868		9,531
Cia Paranaense de Energia ADR		1,560		25,210
CPFL Energia SA ADR		812		16,816
Enersis SA ADR		1,404		27,589
Federal Hydrogenerating Co. JSC ADR		10,264		25,136
Korea Electric Power Corp. ADR*		1,468		22,035
PGE SA		6,688		36,846
Tenaga Nasional BHD		16,800		37,850
Total Electric Utilities				247,385
Electrical Equipment 0.7%
Dongfang Electric Corp., Ltd. - Class H		12,596		24,395
LS Corp.		208		17,478
LS Industrial Systems Co., Ltd.		268		16,588
Shanghai Electric Group Co., Ltd. - Class H		56,000		23,178
Zhuzhou CSR Times Electric Co., Ltd. - Class H		6,920		22,173
Total Electrical Equipment				103,812
Electronic Equipment, Instruments & Components 2.2%
AU Optronics Corp. ADR*		5,104		20,314
Cheng Uei Precision Industry Co., Ltd.		8,924		16,804
Delta Electronics, Inc.		5,680		20,584
E Ink Holdings, Inc.		28,000		20,626
Hon Hai Precision Industry Co., Ltd. GDR		3,280		18,794
Innolux Corp.*		48,820		25,380
LG Display Co., Ltd. ADR*		1,084		14,482
LG Innotek Co., Ltd.*		228		16,018
Neo Holdings Co., Ltd.(e)		152		70
Samsung Electro-Mechanics Co., Ltd.		184		15,495
Samsung SDI Co., Ltd.		128		16,751
Synnex Technology International Corp.		12,000		24,344
Tripod Technology Corp.		10,132		20,417
Unimicron Technology Corp.		20,000		19,982
Wintek Corp.*		46,498		22,283
WPG Holdings Ltd.		16,208		21,793
Zhen Ding Technology Holding Ltd.		7,870		19,324
Total Electronic Equipment, Instruments & Components				313,461
Energy Equipment & Services 0.4%
Bumi Armada BHD		30,400		36,887
China Oilfield Services Ltd. - Class H		11,096		24,036
Total Energy Equipment & Services				60,923
Food & Staples Retailing 2.5%
BIM Birlesik Magazalar AS		550		26,654
Cencosud SA		4,572		28,465
China Resources Enterprise Ltd.		5,828		20,891
Cia Brasileira de Distribuicao Grupo Pao de Acucar ADR		292		13,940
Controladora Comercial Mexicana SAB de CV		8,192		29,816
CP ALL PCL		13,961		21,887
E-Mart Co., Ltd.		88		19,557
Eurocash SA		2,892		46,977
Magnit OJSC GDR		704		31,300
Massmart Holdings Ltd.		992		20,320

	Shares		Value
President Chain Store Corp.		4,000	$	21,608
Shoprite Holdings Ltd.		952		17,957
Siam Makro PCL		1,200		17,948
Sun Art Retail Group Ltd.		13,852		20,147
Wal-Mart de Mexico SAB de CV - Series V		8,415		27,296
Total Food & Staples Retailing				364,763
Food Products 2.2%
Charoen Pokphand Foods PCL		16,835		20,042
China Foods Ltd.		20,000		17,278
China Mengniu Dairy Co., Ltd.		8,000		23,364
CJ CheilJedang Corp.		60		20,442
Indofood Sukses Makmur Tbk PT		39,500		24,535
IOI Corp. BHD		23,600		37,751
Kuala Lumpur Kepong BHD		5,600		39,112
Orion Corp.		16		14,943
Standard Foods Corp.		7,920		22,129
Tiger Brands Ltd.		669		22,055
Tingyi Cayman Islands Holding Corp.		8,000		22,487
Uni-President China Holdings Ltd.		16,400		19,222
Uni-President Enterprises Corp.		11,756		20,624
Want Want China Holdings Ltd.		14,312		19,008
Total Food Products				322,992
Gas Utilities 0.6%
China Gas Holdings Ltd.		30,428		26,444
ENN Energy Holdings Ltd.		4,852		23,242
Korea Gas Corp.		252		15,435
Perusahaan Gas Negara Persero Tbk PT		50,248		24,118
Total Gas Utilities				89,239
Health Care Equipment & Supplies 0.1%
Shandong Weigao Group Medical Polymer Co., Ltd. - Class H		20,000		19,290
Total Health Care Equipment & Supplies				19,290
Health Care Providers & Services 0.4%
Bangkok Dusit Medical Services PCL		5,200		23,192
Life Healthcare Group Holdings Ltd.		5,765		20,303
Sinopharm Group Co. - Class H		6,400		19,599
Total Health Care Providers & Services				63,094
Hotels, Restaurants & Leisure 0.7%
Genting BHD		13,200		40,361
Genting Malaysia BHD		33,600		39,688
Kangwon Land, Inc.		640		18,367
Total Hotels, Restaurants & Leisure				98,416
Household Durables 0.6%
Coway Co., Ltd.*		480		20,850
Haier Electronics Group Co., Ltd.*		15,740		26,221
LG Electronics, Inc.		256		16,950
Steinhoff International Holdings Ltd.*		7,333		22,287
Total Household Durables				86,308
Household Products 0.1%
LG Household & Health Care Ltd.		28		15,608
Total Household Products				15,608
Independent Power Producers & Energy Traders 0.7%
China Longyuan Power Group Corp. - Class H		35,000		29,334
China Resources Power Holdings Co., Ltd.		8,000		22,126
Empresa Nacional de Electricidad SA ADR		536		27,663

3

GUGGENHEIM MSCI EMERGING MARKETS EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Huaneng Power International, Inc. - Class H		25,664	$	26,473
Total Independent Power Producers & Energy Traders				105,596
Industrial Conglomerates 3.0%
Alfa SAB de CV - Class A		11,756		28,244
Beijing Enterprises Holdings Ltd.		3,232		23,275
Bidvest Group Ltd.		913		21,856
Citic Pacific Ltd.		16,000		25,747
CJ Corp.		188		21,581
DMCI Holdings, Inc.		44,800		60,563
Doosan Corp.		152		17,937
Far Eastern New Century Corp.		18,064		20,923
KOC Holding AS		5,662		29,547
LG Corp.		300		17,660
Samsung Techwin Co., Ltd.		347		18,355
Shanghai Industrial Holdings Ltd.		6,432		22,848
Sime Darby BHD		13,200		39,511
SK Holdings Co., Ltd.		108		17,059
SM Investments Corp.		2,800		65,518
Total Industrial Conglomerates				430,624
Insurance 2.3%
Cathay Financial Holding Co., Ltd.		19,896		22,169
China Life Insurance Co., Ltd.*		25,106		24,828
China Life Insurance Co., Ltd. - Class H		8,000		26,820
China Pacific Insurance Group Co., Ltd. - Class H		6,600		25,786
Dongbu Insurance Co., Ltd.		443		18,999
Hanwha Life Insurance Co., Ltd.		2,640		17,989
Hyundai Marine & Fire Insurance Co., Ltd.		600		18,459
PICC Property & Casualty Co., Ltd. - Class H		16,000		24,344
Ping An Insurance Group Co. of China Ltd. - Class H		2,832		25,397
Powszechny Zaklad Ubezpieczen SA		312		41,059
Samsung Fire & Marine Insurance Co., Ltd.		88		17,819
Samsung Life Insurance Co., Ltd.		212		20,442
Sanlam Ltd.		4,388		22,369
Shin Kong Financial Holding Co., Ltd.*		83,000		23,416
Total Insurance				329,896
Internet Software & Services 0.3%
NHN Corp.		76		16,820
Tencent Holdings Ltd.		644		22,537
Total Internet Software & Services				39,357
IT Services 0.2%
SK C&C Co., Ltd.		200		19,010
Wipro Ltd. ADR		1,360		12,879
Total IT Services				31,889
Leisure Equipment & Products 0.2%
Merida Industry Co., Ltd.		5,000		22,861
Total Leisure Equipment & Products				22,861
Machinery 1.7%
Airtac International Group		3,935		22,989
CSR Corp., Ltd. - Class H		25,348		20,885
Daewoo Shipbuilding & Marine Engineering Co., Ltd.		840		22,988
Doosan Infracore Co., Ltd.*		1,200		17,742
Hiwin Technologies Corp.		2,916		23,406

	Shares		Value
Hyundai Heavy Industries Co., Ltd.		92	$	18,165
Hyundai Mipo Dockyard		176		18,910
Samsung Heavy Industries Co., Ltd.		560		19,671
United Tractors Tbk PT		13,000		26,360
Weichai Power Co., Ltd. - Class H		5,868		24,212
Zoomlion Heavy Industry Science and Technology Co., Ltd. - Class H		16,856		22,908
Total Machinery				238,236
Marine 0.9%
China COSCO Holdings Co., Ltd. - Class H*		45,304		23,541
China Shipping Container Lines Co., Ltd. - Class H*(a)		79,228		24,314
China Shipping Development Co., Ltd. - Class H		42,268		23,272
Evergreen Marine Corp. Taiwan Ltd.*		39,499		24,815
Yang Ming Marine Transport Corp.*		55,000		26,544
Total Marine				122,486
Media 1.0%
BEC World PCL		9,230		22,441
Cheil Worldwide, Inc.		880		18,102
Global Mediacom Tbk PT		100,000		22,331
Grupo Televisa SA ADR		1,072		30,027
Media Nusantara Citra Tbk PT		92,000		22,433
Naspers Ltd. - Class N		332		21,512
Total Media				136,846
Metals & Mining 5.7%
African Rainbow Minerals Ltd.		1,004		22,647
Aluminum Corp. of China Ltd. ADR*		1,996		23,952
Angang Steel Co., Ltd. - Class H*		33,268		24,622
Anglo American Platinum Ltd.		441		21,623
AngloGold Ashanti Ltd. ADR		668		18,717
ArcelorMittal South Africa Ltd.*		5,744		22,537
Assore Ltd.		472		23,512
CAP SA		720		26,652
China Steel Corp.		23,156		21,841
Cia de Minas Buenaventura SA ADR		787		23,287
Cia Siderurgica Nacional SA ADR		3,128		16,985
Eregli Demir ve Celik Fabrikalari TAS		19,624		27,889
Gerdau SA ADR		596		5,263
Gold Fields Ltd. ADR		1,724		20,033
Grupo Mexico SAB de CV - Series B		7,476		27,875
Harmony Gold Mining Co., Ltd. ADR		2,592		16,744
Hyundai Hysco Co., Ltd.		440		15,233
Hyundai Steel Co.		240		18,271
Impala Platinum Holdings Ltd.		1,232		22,396
Industrias CH SAB de CV*		3,744		30,863
Industrias Penoles SAB de CV		531		26,097
Jiangxi Copper Co., Ltd. - Class H		8,444		22,919
KGHM Polska Miedz SA		680		41,482
Korea Zinc Co., Ltd.		44		15,516
Koza Altin Isletmeleri AS		996		24,516
Kumba Iron Ore Ltd.		359		24,200
Mechel ADR		3,918		26,447
MMC Norilsk Nickel OJSC ADR		1,560		31,028
Novolipetsk Steel OJSC GDR		1,295		27,454
POSCO ADR		248		20,202
Severstal OAO GDR		2,128		26,494
Shougang Fushan Resources Group Ltd.		56,748		24,366
Southern Copper Corp.		664		26,155
Sterlite Industries (India) Ltd. ADR		1,680		14,263
Zhaojin Mining Industry Co., Ltd. - Class H		12,576		18,940

4

GUGGENHEIM MSCI EMERGING MARKETS EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Zijin Mining Group Co., Ltd. - Class H(a)		53,248	$	20,529
Total Metals & Mining				821,550
Multiline Retail 1.3%
Far Eastern Department Stores Co., Ltd.		21,140		20,942
Golden Eagle Retail Group Ltd.		8,724		18,786
Hyundai Department Store Co., Ltd.		132		19,577
Intime Department Store Group Co., Ltd.		18,224		23,968
Lotte Shopping Co., Ltd.		56		19,157
Parkson Retail Group Ltd.		27,500		21,204
S.A.C.I. Falabella		2,357		27,458
Shinsegae Co., Ltd.		96		19,395
Woolworths Holdings Ltd.		2,576		18,340
Total Multiline Retail				188,827
Oil, Gas & Consumable Fuels 6.6%
Adaro Energy Tbk PT		171,000		28,968
Banpu PCL		1,174		15,275
Bumi Resources Tbk PT		405,500		28,310
China Coal Energy Co., Ltd. - Class H		21,216		23,663
China Petroleum & Chemical Corp. - Class H		20,196		24,504
China Shenhua Energy Co., Ltd. - Class H		5,224		22,464
CNOOC Ltd. ADR		100		20,533
Ecopetrol SA ADR(a)		1,240		78,492
Empresas COPEC SA		1,768		27,388
Exxaro Resources Ltd.		1,224		24,118
Formosa Petrochemical Corp.		6,908		19,910
Gazprom OAO ADR		2,708		25,509
GS Holdings		272		17,735
Indo Tambangraya Megah Tbk PT		6,000		25,534
IRPC PCL		132,026		19,481
Kunlun Energy Co., Ltd.		10,380		21,575
Lukoil OAO ADR		382		25,785
MOL Hungarian Oil and Gas PLC		336		28,924
NovaTek OAO GDR		228		26,699
Pacific Rubiales Energy Corp.		3,392		79,203
PetroChina Co., Ltd. - Class H		16,000		22,817
Polski Koncern Naftowy Orlen SA*		2,556		40,446
Polskie Gornictwo Naftowe i Gazownictwo SA*		28,164		50,024
PTT Exploration & Production PCL		3,622		20,163
PTT PCL		1,567		17,919
Rosneft Oil Co. GDR		3,060		26,928
S-Oil Corp.		200		17,981
Sasol Ltd. ADR		476		20,578
SK Innovation Co., Ltd.		120		18,899
Surgutneftegas SP ADR		2,904		30,115
Tatneft ADR		612		28,256
Thai Oil PCL		8,424		20,834
Tupras Turkiye Petrol Rafinerileri AS		992		27,350
Ultrapar Participacoes SA ADR		308		7,423
Yanzhou Coal Mining Co., Ltd. - Class H		13,876		23,725
Total Oil, Gas & Consumable Fuels				957,528
Paper & Forest Products 0.7%
Empresas CMPC SA		6,712		26,064
Fibria Celulose SA ADR*		1,752		21,620
Nine Dragons Paper Holdings Ltd.		28,872		25,315
Sappi Ltd.*		6,328		22,151
Total Paper & Forest Products				95,150
Personal Products 0.4%
Amorepacific Corp.		16		16,089
AMOREPACIFIC Group		44		16,648

	Shares		Value
Hengan International Group Co., Ltd.		2,000	$	20,063
Total Personal Products				52,800
Pharmaceuticals 0.6%
Aspen Pharmacare Holdings Ltd.*		1,144		21,109
Celltrion, Inc.		915		21,553
Dr. Reddy’s Laboratories Ltd. ADR		544		19,551
ScinoPharm Taiwan Ltd.		9,000		21,337
Total Pharmaceuticals				83,550
Real Estate Investment Trusts (REITs) 0.2%
Emlak Konut Gayrimenkul Yatirim Ortakligi AS		15,551		27,493
Total Real Estate Investment Trusts (REITs)				27,493
Real Estate Management & Development 3.0%
Agile Property Holdings Ltd.		16,000		22,694
Ayala Land, Inc.		102,400		72,990
Central Pattana PCL		7,200		20,583
China Overseas Land & Investment Ltd.		8,000		24,808
China Resources Land Ltd.		8,000		24,344
Country Garden Holdings Co., Ltd.*		45,940		24,464
Evergrande Real Estate Group Ltd.		43,272		22,876
Growthpoint Properties Ltd.		7,039		19,849
Guangzhou R&F Properties Co., Ltd. - Class H		13,332		24,204
Highwealth Construction Corp.		10,600		22,007
Longfor Properties Co., Ltd.		11,232		21,058
Poly Property Group Co., Ltd.*		31,120		23,875
Ruentex Development Co., Ltd.		12,000		26,417
Shimao Property Holdings Ltd.		10,608		23,444
Soho China Ltd.		28,424		25,582
UEM Land Holdings BHD*		56,000		39,652
Total Real Estate Management & Development				438,847
Semiconductors & Semiconductor Equipment 2.6%
Advanced Semiconductor Engineering, Inc.		25,700		20,803
Epistar Corp.		14,000		26,600
GCL-Poly Energy Holdings Ltd.		126,156		34,485
Kinsus Interconnect Technology Corp.		6,628		20,786
Macronix International		82,810		23,839
MediaTek, Inc.		1,856		20,303
Novatek Microelectronics Corp.		5,284		21,027
Phison Electronics Corp.		2,964		20,027
Powertech Technology, Inc.		14,000		21,052
Radiant Opto-Electronics Corp.		4,118		15,969
Realtek Semiconductor Corp.		10,480		23,497
Richtek Technology Corp.		4,000		24,046
Samsung Electronics Co., Ltd. GDR		28		18,592
Siliconware Precision Industries Co. ADR		3,935		20,187
SK Hynix, Inc.*		760		17,030
Taiwan Semiconductor Manufacturing Co., Ltd. ADR		1,236		21,927
United Microelectronics Corp. ADR(a)		11,018		21,595
Total Semiconductors & Semiconductor Equipment				371,765
Software 0.1%
NCSoft Corp.		120		15,208
Total Software				15,208
Specialty Retail 0.9%
Belle International Holdings Ltd.		10,100		22,452
Foschini Group Ltd.(The)		1,354		17,750
GOME Electrical Appliances Holding Ltd.*		207,600		24,894

5

GUGGENHEIM MSCI EMERGING MARKETS EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Mr Price Group Ltd.		1,373	$	18,951
Truworths International Ltd.		1,956		22,229
Zhongsheng Group Holdings Ltd.		17,500		26,175
Total Specialty Retail				132,451
Textiles, Apparel & Luxury Goods 0.3%
Anta Sports Products Ltd.(a)		29,656		27,685
Ruentex Industries Ltd.		8,872		22,535
Total Textiles, Apparel & Luxury Goods				50,220
Tobacco 0.3%
Gudang Garam Tbk PT		4,000		21,293
KT&G Corp.		232		16,171
Total Tobacco				37,464
Trading Companies & Distributors 0.5%
Barloworld Ltd.		2,664		25,050
Daewoo International Corp.		480		16,398
Samsung C&T Corp.		324		18,864
SK Networks Co., Ltd.		2,360		17,447
Total Trading Companies & Distributors				77,759
Transportation Infrastructure 0.9%
Airports of Thailand PCL		6,000		21,227
China Merchants Holdings International Co., Ltd.		6,920		24,538
COSCO Pacific Ltd.		16,000		25,953
Grupo Aeroportuario del Sureste SAB de CV ADR		240		28,658
Jasa Marga Persero Tbk PT		39,381		22,238
Total Transportation Infrastructure				122,614
Water Utilities 0.4%
Aguas Andinas SA		35,400		26,216
Cia de Saneamento Basico do Estado de Sao Paulo ADR		256		11,395
Guangdong Investment Ltd.		26,452		21,965
Total Water Utilities				59,576
Wireless Telecommunication Services 3.7%
Advanced Info Service PCL		3,148		22,169
America Movil SAB de CV ADR - Series L		1,068		26,871
Axiata Group BHD		20,000		40,554
China Mobile Ltd. ADR		393		21,497
DiGi.Com Bhd		24,400		38,638
ENTEL Chile SA		1,133		24,644
Far EasTone Telecommunications Co., Ltd.		8,000		20,348
Maxis Bhd		18,000		36,904
Mobile Telesystems OJSC ADR		1,464		28,782
MTN Group Ltd.		1,196		23,443
Orascom Telecom Holding SAE GDR*		16,824		54,846
Philippine Long Distance Telephone Co. ADR		972		66,942
Sistema JSFC GDR		1,304		28,688
SK Telecom Co., Ltd. ADR		1,188		20,137
Taiwan Mobile Co., Ltd.		5,816		20,682
Tim Participacoes SA ADR		904		19,888
Turkcell Iletisim Hizmetleri AS ADR*		1,574		24,617
Vodacom Group Ltd.		1,504		21,006
Total Wireless Telecommunication Services				540,656
Total Common Stocks (Cost $11,251,505)				11,923,559

	Shares		Value
EXCHANGE TRADED FUNDS 17.0%
iShares MSCI Brazil Index Fund		20,664	$	1,173,095
WisdomTree India Earnings Fund		63,072		1,274,055
Total Exchange Traded Funds
(Cost $2,637,231)				2,447,150
PREFERRED STOCKS 0.2%
Beverages 0.2%
Embotelladora Andina SA - Class B		3,768		24,787
Total Beverages				24,787
Total PREFERRED STOCKS (Cost $24,202)				24,787
SHORT TERM INVESTMENTS 0.3%
SSgA Government Money Market Fund		37,593		37,593
Total Short Term Investments (Cost $37,593)				37,593
	Face Amount
SECURITIES LENDING COLLATERAL 0.6%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	26,272		26,272
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		26,272		26,272
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		37,405		37,405
Total Securities Lending Collateral (Cost $89,949)				89,949
Total Investments 100.7%(d) (Cost $14,040,480)				14,523,038
Other Assets and Liabilities, net – (0.7)%				(94,363	)
Net Assets – 100.0%			$	14,428,675

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013

(b) Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs. (Note G)

(e) Values determined based on Level 3 inputs (Note G).

ADR - American Depositary Receipt GDR - Global Depository Receipt PLC - Public Limited Company

INVESTMENT CONCENTRATION

At January 31, 2013, the investment diversification of the

Fund was as follows:

COUNTRY	% OF TOTAL INVESTMENTS
United States		17.91	%
Taiwan		12.75	%
South Korea		10.47	%

6

GUGGENHEIM MSCI EMERGING MARKETS EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (concluded)	January 31, 2013

China	8.57	%
South Africa	5.10	%
Malaysia	3.94	%
Cayman Islands	3.37	%
Turkey	3.35	%
Mexico	3.10	%
Thailand	3.09	%
Indonesia	3.07	%
Hong Kong	3.06	%
Russia	3.03	%
Poland	2.57	%
Chile	2.57	%
Philippines	2.28	%
Brazil	1.68	%
Colombia	1.63	%
Bermuda	1.41	%
Switzerland	1.36	%
Slovakia	1.33	%
Egypt	1.05	%
Morocco	0.79	%
Saudi Arabia	0.74	%
Czech	0.48	%
Hungary	0.42	%
India	0.40	%
Belize	0.32	%
Peru	0.16	%
Total Investments	100.00	%

7

GUGGENHEIM S&P 500^® EQUAL WEIGHT CONSUMER DISCRETIONARY ETF

SCHEDULE OF INVESTMENTS (Unaudited) January 31, 2013

	Shares		Value
COMMON STOCKS 100.0%
Auto Components 5.0%
BorgWarner, Inc.*		7,661	$	568,293
Delphi Automotive PLC*		14,864		574,642
Goodyear Tire & Rubber Co.(The)*		39,323		541,085
Johnson Controls, Inc.		18,058		561,423
Total Auto Components				2,245,443
Automobiles 2.5%
Ford Motor Co.		45,877		594,107
Harley-Davidson, Inc.		10,647		558,116
Total Automobiles				1,152,223
Distributors 1.2%
Genuine Parts Co.		8,147		554,240
Total Distributors				554,240
Diversified Consumer Services 2.5%
Apollo Group, Inc. - Class A*		24,198		489,284
H&R Block, Inc.		27,378		623,397
Total Diversified Consumer Services				1,112,681
Hotels, Restaurants & Leisure 13.2%
Carnival Corp.		13,501		522,759
Chipotle Mexican Grill, Inc.*		1,837		563,977
Darden Restaurants, Inc.		10,961		509,687
International Game Technology		35,290		542,407
Marriott International, Inc. - Class A		14,103		563,838
McDonald’s Corp.		5,730		546,012
Starbucks Corp.		9,543		535,553
Starwood Hotels & Resorts Worldwide, Inc.		9,424		578,728
Wyndham Worldwide Corp.		10,132		565,264
Wynn Resorts Ltd.		4,477		560,610
Yum! Brands, Inc.		7,500		487,050
Total Hotels, Restaurants & Leisure				5,975,885
Household Durables 10.0%
DR Horton, Inc.		27,173		642,913
Garmin Ltd.		12,518		474,307
Harman International Industries, Inc.		12,102		541,928
Leggett & Platt, Inc.		19,319		568,751
Lennar Corp. - Class A(a)		13,649		566,980
Newell Rubbermaid, Inc.		23,179		544,243
PulteGroup, Inc.*		29,710		616,185
Whirlpool Corp.		5,087		586,938
Total Household Durables				4,542,245
Internet & Catalog Retail 6.9%
Amazon.com, Inc.*		2,044		542,682
Expedia, Inc.		8,633		563,303
Netflix, Inc.*		5,459		902,045
priceline.com, Inc.*		830		568,940
TripAdvisor, Inc.*		12,221		565,588
Total Internet & Catalog Retail				3,142,558
Leisure Equipment & Products 2.3%
Hasbro, Inc.(a)		13,775		514,772
Mattel, Inc.		13,786		518,767
Total Leisure Equipment & Products				1,033,539
Media 18.3%
Cablevision Systems Corp. - Class A		35,217		515,577

	Shares		Value
CBS Corp. - Class B		14,621	$	609,988
Comcast Corp. - Class A		13,941		530,873
DIRECTV*		10,222		522,753
Discovery Communications, Inc. - Class A*		8,372		580,849
Gannett Co., Inc.		28,933		567,955
Interpublic Group of Cos., Inc.(The)		46,719		565,767
News Corp. - Class A		20,854		578,490
Omnicom Group, Inc.		10,350		561,798
Scripps Networks Interactive, Inc. - Class A		8,774		541,970
Time Warner Cable, Inc.		5,414		483,687
Time Warner, Inc.		10,888		550,062
Viacom, Inc. - Class B		9,612		580,084
Walt Disney Co.(The)		10,463		563,746
Washington Post Co.(The) - Class B		1,395		538,024
Total Media				8,291,623
Multiline Retail 10.4%
Big Lots, Inc.*		18,708		601,462
Dollar General Corp.*		11,619		537,030
Dollar Tree, Inc.*		13,183		527,188
Family Dollar Stores, Inc.		7,732		438,405
J.C. Penney Co., Inc.(a)		24,273		493,470
Kohl’s Corp.		11,627		538,214
Macy’s, Inc.		13,377		528,525
Nordstrom, Inc.		9,756		538,824
Target Corp.		8,417		508,471
Total Multiline Retail				4,711,589
Specialty Retail 21.8%
Abercrombie & Fitch Co. - Class A		10,886		544,300
AutoNation, Inc.*		13,255		642,867
AutoZone, Inc.*		1,424		526,453
Bed Bath & Beyond, Inc.*		8,747		513,449
Best Buy Co., Inc.		42,260		687,148
CarMax, Inc.*		14,521		572,418
GameStop Corp. - Class A(a)		18,511		429,455
Gap, Inc.(The)		16,192		529,155
Home Depot, Inc.		8,206		549,146
Limited Brands, Inc.		10,100		485,002
Lowe’s Cos., Inc.		14,778		564,372
O’Reilly Automotive, Inc.*		5,691		527,271
PetSmart, Inc.		7,354		481,025
Ross Stores, Inc.		9,576		571,687
Staples, Inc.		43,599		587,715
Tiffany & Co.		8,766		576,364
TJX Cos., Inc.		11,951		539,946
Urban Outfitters, Inc.*		13,193		564,528
Total Specialty Retail				9,892,301
Textiles, Apparel & Luxury Goods 5.9%
Coach, Inc.		8,926		455,226
Fossil, Inc.*		5,616		592,937
NIKE, Inc. - Class B		10,510		568,066
Ralph Lauren Corp.		3,393		564,867
V.F. Corp.		3,437		507,232
Total Textiles, Apparel & Luxury Goods				2,688,328
Total Common Stocks (Cost $40,827,559)				45,342,655

GUGGENHEIM S&P 500^® EQUAL WEIGHT CONSUMER DISCRETIONARY ETF

SCHEDULE OF INVESTMENTS (Unaudited) (concluded) January 31, 2013

	Shares		Value
SHORT TERM INVESTMENTS 0.0%(b)
SSgA Government Money Market Fund		18,178	$	18,178
Total Short Term Investments (Cost $18,178)				18,178
	Face Amount
SECURITIES LENDING COLLATERAL 2.2%(c)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(d)	$	295,806		295,806
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(d)		295,806		295,806
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(d)		421,157		421,157
Total Securities Lending Collateral (Cost $1,012,769)				1,012,769
Total Investments 102.2%(e) (Cost $41,858,506)				46,373,602
Other Assets and Liabilities, net – (2.2)%				(1,016,297	)
Net Assets – 100.0%			$	45,357,305

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Amount represents less than 0.05% of net assets.

(c) Securities lending collateral (Note H).

(d) Values determined based on Level 2 inputs (Note G).

(e) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

2

GUGGENHEIM S&P 500^® EQUAL WEIGHT CONSUMER STAPLES ETF

SCHEDULE OF INVESTMENTS (Unaudited) January 31, 2013

	Shares		Value
COMMON STOCKS 99.7%
Beverages 20.6%
Beam, Inc.		16,337	$	1,002,112
Brown-Forman Corp. - Class B		15,764		1,019,931
Coca-Cola Co.(The)		26,488		986,413
Coca-Cola Enterprises, Inc.		32,210		1,123,163
Constellation Brands, Inc. - Class A*		28,258		914,429
Dr Pepper Snapple Group, Inc.		22,351		1,007,359
Molson Coors Brewing Co. - Class B		23,177		1,047,137
Monster Beverage Corp.*		18,673		894,437
PepsiCo, Inc.		14,218		1,035,781
Total Beverages				9,030,762
Food & Staples Retailing 19.2%
Costco Wholesale Corp.		10,292		1,053,283
CVS Caremark Corp.		20,258		1,037,210
Kroger Co.(The)		37,943		1,051,021
Safeway, Inc.(a)		56,517		1,087,952
Sysco Corp.		31,408		997,832
Wal-Mart Stores, Inc.		14,510		1,014,974
Walgreen Co.		27,135		1,084,315
Whole Foods Market, Inc.		11,267		1,084,449
Total Food & Staples Retailing				8,411,036
Food Products 36.2%
Archer-Daniels-Midland Co.		36,823		1,050,560
Campbell Soup Co.(a)		28,036		1,029,201
ConAgra Foods, Inc.		33,085		1,081,549
Dean Foods Co.*		60,603		1,109,641
General Mills, Inc.		24,066		1,009,328
H.J. Heinz Co.		16,873		1,023,010
Hershey Co.(The)		13,477		1,070,748
Hormel Foods Corp.		32,075		1,110,116
J.M. Smucker Co.(The)		11,471		1,016,675
Kellogg Co.		17,587		1,028,839
Kraft Foods Group, Inc.		21,396		988,923
McCormick & Co., Inc.		15,485		965,490
Mead Johnson Nutrition Co.		15,146		1,151,096
Mondelez International, Inc. - Class A		38,322		1,064,968
Tyson Foods, Inc. - Class A		50,765		1,122,922
Total Food Products				15,823,066
Household Products 9.5%
Clorox Co.(The)		13,230		1,037,364
Colgate-Palmolive Co.		9,424		1,011,855
Kimberly-Clark Corp.		11,729		1,049,863
Procter & Gamble Co.(The)		14,265		1,072,157
Total Household Products				4,171,239
Personal Products 5.0%
Avon Products, Inc.		70,895		1,203,797
Estee Lauder Cos., Inc.(The) - Class A		16,372		997,546
Total Personal Products				2,201,343
Tobacco 9.2%
Altria Group, Inc.		30,082		1,013,162
Lorillard, Inc.		25,059		979,055
Philip Morris International, Inc.		11,368		1,002,203
Reynolds American, Inc.		23,318		1,025,526
Total Tobacco				4,019,946
Total Common Stocks
(Cost $42,494,876)				43,657,392

	Shares		Value
SHORT TERM INVESTMENTS 0.2%
SSgA Government Money Market Fund		73,956	$	73,956
Total Short Term Investments (Cost $73,956)				73,956
	Face Amount
SECURITIES LENDING COLLATERAL 2.3%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	288,260		288,260
Merrill Lynch, Fenner & Smith, Inc.,issued 1/31/2013 at 0.13% due 2/1/2013(c)		288,260		288,260
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		410,413		410,413
Total Securities Lending Collateral (Cost $986,933)				986,933
Total Investments 102.2%(d) (Cost $43,555,765)				44,718,281
Other Assets and Liabilities, net – (2.2)%				(955,962	)
Net Assets – 100.0%			$	43,762,319

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013. (b)Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

GUGGENHEIM S&P 500® EQUAL WEIGHT ENERGY ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 99.9%
Energy Equipment & Services 29.1%
Baker Hughes, Inc.		16,133	$	721,468
Cameron International Corp.*		12,458		788,716
Diamond Offshore Drilling, Inc. (a)		9,836		738,585
Ensco PLC - Class A		11,553		734,424
FMC Technologies, Inc.*		16,328		773,131
Halliburton Co.		19,853		807,620
Helmerich & Payne, Inc.		12,352		794,728
Nabors Industries Ltd.*		48,351		806,011
National Oilwell Varco, Inc.		10,219		757,637
Noble Corp.		19,572		792,666
Rowan Cos., PLC - Class A*		21,065		726,321
Schlumberger Ltd.		9,620		750,841
Total Energy Equipment & Services				9,192,148
Oil, Gas & Consumable Fuels 70.8%
Anadarko Petroleum Corp.		8,887		711,138
Apache Corp.		8,607		720,922
Cabot Oil & Gas Corp.		14,168		747,787
Chesapeake Energy Corp.		40,030		807,805
Chevron Corp.		6,146		707,712
ConocoPhillips		11,491		666,478
CONSOL Energy, Inc.		19,671		616,489
Denbury Resources, Inc.*		41,745		777,709
Devon Energy Corp.		12,768		730,202
EOG Resources, Inc.		5,571		696,264
EQT Corp.		11,698		694,978
Exxon Mobil Corp.		7,526		677,114
Hess Corp.		12,902		866,498
Kinder Morgan, Inc.		19,659		736,426
Marathon Oil Corp.		21,509		722,918
Marathon Petroleum Corp.		10,551		782,990
Murphy Oil Corp.		11,168		664,719
Newfield Exploration Co.*		25,733		759,124
Noble Energy, Inc.		6,628		714,432
Occidental Petroleum Corp.		8,703		768,214
Peabody Energy Corp.		23,949		602,317
Phillips 66		12,398		750,947
Pioneer Natural Resources Co.		6,439		756,840
QEP Resources, Inc.		22,343		655,767
Range Resources Corp.		10,671		716,771
Southwestern Energy Co.*		20,131		690,493
Spectra Energy Corp.		24,380		677,276
Tesoro Corp.		15,184		739,309
Valero Energy Corp.		19,865		868,697
Williams Cos., Inc. (The)		21,051		737,838
WPX Energy, Inc.*		42,796		643,224
Total Oil, Gas & Consumable Fuels				22,409,398
Total Common Stocks (Cost $32,843,001)				31,601,546
SHORT TERM INVESTMENTS 0.1%
SSgA Government Money Market Fund		28,441		28,441
Total Short Term Investments (Cost $28,441)				28,441

	Face Amount		Value
SECURITIES LENDING COLLATERAL 1.1%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	99,531	$	99,531
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		99,531		99,531
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		141,708		141,708
Total Securities Lending Collateral (Cost $340,770)				340,770
Total Investments 101.1%(d) (Cost $33,212,212)				31,970,757
Other Assets and Liabilities, net – (1.1)%				(342,095	)
Net Assets – 100.0%			$	31,628,662

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs. (Note G)

GUGGENHEIM S&P 500® EQUAL WEIGHT FINANCIAL ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 99.8%
Capital Markets 16.8%
Ameriprise Financial, Inc.		2,863	$	189,874
Bank of New York Mellon Corp. (The)		7,092		192,619
BlackRock, Inc.		870		205,564
Charles Schwab Corp. (The)		12,796		211,518
E*Trade Financial Corp.*		21,045		223,288
Franklin Resources, Inc.		1,380		188,894
Goldman Sachs Group, Inc. (The)		1,469		217,206
Invesco Ltd.		6,885		187,616
Legg Mason, Inc.		6,990		193,274
Morgan Stanley		9,712		221,919
Northern Trust Corp.		3,720		191,468
State Street Corp.		3,857		214,642
T. Rowe Price Group, Inc.		2,740		195,773
Total Capital Markets				2,633,655
Commercial Banks 16.0%
BB&T Corp.		6,197		187,645
Comerica, Inc.		6,117		210,180
Fifth Third Bancorp		12,208		198,869
First Horizon National Corp.		18,649		190,406
Huntington Bancshares, Inc.		28,458		198,068
KeyCorp		21,536		202,439
M&T Bank Corp.		1,790		183,815
PNC Financial Services Group, Inc.		3,139		193,990
Regions Financial Corp.		26,165		203,564
SunTrust Banks, Inc.		6,476		183,724
US Bancorp		5,583		184,797
Wells Fargo & Co.		5,288		184,181
Zions Bancorp		8,510		198,453
Total Commercial Banks				2,520,131
Consumer Finance 4.5%
American Express Co.		3,095		182,017
Capital One Financial Corp.		3,085		173,747
Discover Financial Services		4,434		170,221
SLM Corp.		10,497		177,295
Total Consumer Finance				703,280
Diversified Financial Services 11.6%
Bank of America Corp.		16,569		187,561
Citigroup, Inc.		4,662		196,550
CME Group, Inc.		3,420		197,813
IntercontinentalExchange, Inc.*		1,371		190,226
JPMorgan Chase & Co.		4,095		192,670
Leucadia National Corp.		7,533		191,715
Moody’s Corp.		3,639		199,490
NASDAQ OMX Group, Inc. (The)		7,241		205,065
NYSE Euronext		7,476		258,445
Total Diversified Financial Services				1,819,535
Insurance 27.1%
ACE Ltd.		2,210		188,579
AFLAC, Inc.		3,293		174,727
Allstate Corp. (The)		4,363		191,536
American International Group, Inc.*		5,165		195,392
Aon PLC		3,119		180,091
Assurant, Inc.		5,075		194,068
Berkshire Hathaway, Inc. - Class B*		1,966		190,564
Chubb Corp. (The)		2,303		184,954
Cincinnati Financial Corp.		4,425		187,797
Genworth Financial, Inc. - Class A*		25,187		230,965
Hartford Financial Services Group, Inc.		8,234		204,203

	Shares		Value
Lincoln National Corp.		6,932	$	200,889
Loews Corp.		4,312		187,011
Marsh & McLennan Cos., Inc.		5,124		181,800
MetLife, Inc.		5,506		205,594
Principal Financial Group, Inc.		6,372		197,596
Progressive Corp. (The)		8,352		187,836
Prudential Financial, Inc.		3,443		199,281
Torchmark Corp.		3,466		193,091
Travelers Cos., Inc. (The)		2,389		187,441
Unum Group		8,416		196,177
XL Group PLC		7,217		200,055
Total Insurance				4,259,647
Media 1.2%
McGraw-Hill Cos., Inc. (The)		3,248		186,825
Total Media				186,825
Real Estate Investment Trusts (REITs) 19.0%
American Tower Corp.		2,286		174,079
Apartment Investment & Management Co. - Class A		6,858		187,086
AvalonBay Communities, Inc.		1,322		171,582
Boston Properties, Inc.		1,686		177,502
Equity Residential		3,159		174,977
HCP, Inc.		3,967		184,029
Health Care REIT, Inc.		3,010		189,148
Host Hotels & Resorts, Inc.		11,488		192,884
Kimco Realty Corp.		9,088		188,758
Plum Creek Timber Co., Inc.		4,121		198,550
ProLogis, Inc.		4,994		199,261
Public Storage		1,251		192,566
Simon Property Group, Inc.		1,138		182,285
Ventas, Inc.		2,796		185,347
Vornado Realty Trust		2,268		191,555
Weyerhaeuser Co.		6,414		193,190
Total Real Estate Investment Trusts (REITs)				2,982,799
Real Estate Management & Development 1.3%
CBRE Group, Inc.*		9,130		197,025
Total Real Estate Management & Development				197,025
Thrifts & Mortgage Finance 2.3%
Hudson City Bancorp, Inc.		21,940		187,587
People’s United Financial, Inc.		14,416		177,461
Total Thrifts & Mortgage Finance				365,048
Total Common Stocks (Cost $14,007,930)				15,667,945
SHORT TERM INVESTMENTS 0.1%
SSgA Government Money Market Fund		19,628		19,628
Total Short Term Investments (Cost $19,628)				19,628
Total Investments 99.9%(a) (Cost $14,027,558)				15,687,573
Other Assets and Liabilities, net – 0.1%				11,840
Net Assets – 100.0%			$	15,699,413

* Non-Income Producing Security.

(a) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs. (Note G)

GUGGENHEIM S&P 500® EQUAL WEIGHT HEALTH CARE ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 99.7%
Biotechnology 9.3%
Alexion Pharmaceuticals, Inc.*		18,266	$	1,716,821
Amgen, Inc.		19,130		1,634,850
Biogen Idec, Inc.*		11,283		1,761,051
Celgene Corp.*		21,499		2,127,541
Gilead Sciences, Inc.*		45,972		1,813,595
Total Biotechnology				9,053,858
Health Care Equipment & Supplies 28.6%
Abbott Laboratories		55,787		1,890,064
Baxter International, Inc.		25,873		1,755,224
Becton, Dickinson and Co.		21,953		1,844,930
Boston Scientific Corp.*		300,919		2,247,865
C.R. Bard, Inc.		17,733		1,810,007
CareFusion Corp.*		60,765		1,886,146
Covidien PLC		29,802		1,857,857
DENTSPLY International, Inc.		42,967		1,794,302
Edwards Lifesciences Corp.*		18,745		1,685,738
Intuitive Surgical, Inc.*		3,204		1,840,313
Medtronic, Inc.		40,762		1,899,509
St Jude Medical, Inc.		48,267		1,964,467
Stryker Corp.		30,586		1,916,213
Varian Medical Systems, Inc.*		24,028		1,697,578
Zimmer Holdings, Inc.		25,369		1,892,527
Total Health Care Equipment & Supplies				27,982,740
Health Care Providers & Services 27.9%
Aetna, Inc.		37,435		1,805,490
AmerisourceBergen Corp.		39,348		1,785,219
Cardinal Health, Inc.		40,314		1,766,156
CIGNA Corp.		32,182		1,877,498
Coventry Health Care, Inc.		38,383		1,759,093
DaVita, Inc.*		15,644		1,805,474
Express Scripts Holding Co.*		31,157		1,664,407
Humana, Inc.		25,809		1,919,157
Laboratory Corp. of America Holdings*		19,590		1,753,305
McKesson Corp.		17,366		1,827,424
Patterson Cos., Inc.		51,252		1,851,735
Quest Diagnostics, Inc.		28,836		1,671,046
Tenet Healthcare Corp.*		55,703		2,162,948
UnitedHealth Group, Inc.		31,567		1,742,814
WellPoint, Inc.		29,174		1,891,059
Total Health Care Providers & Services				27,282,825
Health Care Technology 1.9%
Cerner Corp.*		22,093		1,823,777
Total Health Care Technology				1,823,777
Life Sciences Tools & Services 10.0%
Agilent Technologies, Inc.		42,813		1,917,166
Life Technologies Corp.*		34,504		2,232,064
PerkinElmer, Inc.		54,283		1,912,933
Thermo Fisher Scientific, Inc.		26,570		1,916,760
Waters Corp.*		19,530		1,788,362
Total Life Sciences Tools & Services				9,767,285
Pharmaceuticals 22.0%
AbbVie, Inc.		49,884		1,830,244
Actavis, Inc.*		19,449		1,680,199
Allergan, Inc.		18,626		1,955,916
Bristol-Myers Squibb Co.		52,127		1,883,870
Eli Lilly & Co.		35,701		1,916,787
Forest Laboratories, Inc.*		47,791		1,734,813

	Shares		Value
Hospira, Inc.*		53,588	$	1,828,423
Johnson & Johnson		24,136		1,784,133
Merck & Co., Inc.		39,186		1,694,794
Mylan, Inc.*		61,001		1,724,498
Perrigo Co.		16,376		1,645,952
Pfizer, Inc.		67,814		1,849,966
Total Pharmaceuticals				21,529,595
Total Common Stocks (Cost $92,236,114)				97,440,080
SHORT TERM INVESTMENTS 0.3%
SSgA Government Money Market Fund		262,722		262,722
Total Short Term Investments (Cost $262,722)				262,722
Total Investments 100.0%(a) (Cost $92,498,836)				97,702,802
Other Assets and Liabilities, net – 0.0%(b)				26,427
Net Assets – 100.0%			$	97,729,229

* Non-Income Producing Security.

(a) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs. (Note G)

(b) Amount represents less than 0.1% of net assets.

GUGGENHEIM S&P 500^® EQUAL WEIGHT INDUSTRIALS ETF

SCHEDULE OF INVESTMENTS (Unaudited) January 31, 2013

	Shares		Value
COMMON STOCKS 99.9%
Aerospace & Defense 17.4%
Boeing Co. (The)		4,585	$	338,694
General Dynamics Corp.		5,029		333,423
Honeywell International, Inc.		5,514		376,275
L-3 Communications Holdings, Inc.		4,508		342,247
Lockheed Martin Corp.		3,815		331,409
Northrop Grumman Corp.		5,080		330,403
Precision Castparts Corp.		1,842		337,823
Raytheon Co.		5,903		310,970
Rockwell Collins, Inc.		6,018		354,340
Textron, Inc.		13,988		402,295
United Technologies Corp.		4,243		371,560
Total Aerospace & Defense				3,829,439
Air Freight & Logistics 6.8%
C.H. Robinson Worldwide, Inc.		5,515		364,818
Expeditors International of Washington, Inc.		8,879		380,909
FedEx Corp.		3,767		382,162
United Parcel Service, Inc. - Class B		4,659		369,412
Total Air Freight & Logistics				1,497,301
Airlines 1.7%
Southwest Airlines Co.		33,304		373,338
Total Airlines				373,338
Building Products 1.7%
Masco Corp.		21,052		387,146
Total Building Products				387,146
Commercial Services & Supplies 15.2%
ADT Corp. (The)		7,394		351,215
Avery Dennison Corp.		9,981		384,368
Cintas Corp.		8,163		344,968
Iron Mountain, Inc.		10,969		375,249
Pitney Bowes, Inc.(a)		31,775		457,878
Republic Services, Inc.		11,650		371,519
Stericycle, Inc.*		3,639		343,340
Tyco International Ltd.		11,887		359,344
Waste Management, Inc.		10,109		367,765
Total Commercial Services & Supplies				3,355,646
Construction & Engineering 5.2%
Fluor Corp.		5,945		385,414
Jacobs Engineering Group, Inc.*		8,209		394,935
Quanta Services, Inc.*		12,527		362,907
Total Construction & Engineering				1,143,256
Electrical Equipment 6.7%
Eaton Corp. PLC		6,456		367,669
Emerson Electric Co.		6,557		375,389
Rockwell Automation, Inc.		4,126		367,998
Roper Industries, Inc.		3,085		362,333
Total Electrical Equipment				1,473,389
Industrial Conglomerates 4.9%
3M Co.		3,678		369,823
Danaher Corp.		6,225		373,064
General Electric Co.		15,696		349,707
Total Industrial Conglomerates				1,092,594
Machinery 24.9%
Caterpillar, Inc.		3,813		375,161
Cummins, Inc.		3,192		366,537

	Shares		Value
Deere & Co.		3,949	$	371,443
Dover Corp.		5,315		367,692
Flowserve Corp.		2,387		374,210
Illinois Tool Works, Inc.		5,673		356,434
Ingersoll-Rand PLC		7,130		366,411
Joy Global, Inc.		5,506		347,814
PACCAR, Inc.		7,729		363,727
Pall Corp.		5,633		384,734
Parker Hannifin Corp.		4,065		377,923
Pentair Ltd.		7,076		358,612
Snap-on, Inc.		4,357		353,004
Stanley Black & Decker, Inc.		4,759		365,634
Xylem, Inc.		12,681		354,180
Total Machinery				5,483,516
Professional Services 5.1%
Dun & Bradstreet Corp.(The)		4,215		343,691
Equifax, Inc.		6,403		375,856
Robert Half International, Inc.		11,411		402,124
Total Professional Services				1,121,671
Road & Rail 6.8%
CSX Corp.		17,165		378,145
Norfolk Southern Corp.		5,530		380,851
Ryder System, Inc.		6,842		388,489
Union Pacific Corp.		2,730		358,886
Total Road & Rail				1,506,371
Trading Companies & Distributors 3.5%
Fastenal Co.		7,870		390,981
W.W. Grainger, Inc.		1,784		388,591
Total Trading Companies & Distributors				779,572
Total Common Stocks (Cost $20,703,957)				22,043,239
SHORT TERM INVESTMENTS 0.0% (b)
SSgA Government Money Market Fund		6,075		6,075
Total Short Term Investments (Cost $6,075)				6,075
	Face Amount
SECURITIES LENDING COLLATERAL 0.8%(c)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(d)	$	48,660		48,660
Merrill Lynch, Fenner & Smith, Inc.,issued 1/31/2013 at 0.13% due 2/1/2013(d)		48,660		48,660
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(d)		69,280		69,280
Total Securities Lending Collateral (Cost $166,600)				166,600

GUGGENHEIM S&P 500^® EQUAL WEIGHT INDUSTRIALS ETF

SCHEDULE OF INVESTMENTS (Unaudited) (concluded) January 31, 2013

Total Investments 100.7%(e) (Cost $20,876,632)		22,215,914
Other Assets and Liabilities, net – (0.7)%		(162,145	)
Net Assets – 100.0%	$	22,053,769

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Amount represents less than 0.05% of net assets.

(c) Securities lending collateral (Note H).

(d) Values determined based on Level 2 inputs (Note G).

(e) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

2

GUGGENHEIM S&P 500^® EQUAL WEIGHT MATERIALS ETF

SCHEDULE OF INVESTMENTS (Unaudited) January 31, 2013

	Shares		Value
COMMON STOCKS 99.9%
Chemicals 53.6%
Air Products & Chemicals, Inc.		12,683	$	1,108,875
Airgas, Inc.		11,766		1,120,594
CF Industries Holdings, Inc.		5,082		1,164,642
Dow Chemical Co.(The)		33,320		1,072,904
Du Pont (E.I.) de Nemours & Co.		23,746		1,126,748
Eastman Chemical Co.		16,186		1,151,634
Ecolab, Inc.		14,846		1,074,850
FMC Corp.		18,435		1,133,199
International Flavors & Fragrances, Inc.		15,937		1,122,443
LyondellBasell Industries NV - Class A		19,464		1,234,407
Monsanto Co.		11,746		1,190,457
Mosaic Co.(The)		18,843		1,154,134
PPG Industries, Inc.(a)		8,058		1,110,956
Praxair, Inc.		9,789		1,080,412
Sherwin-Williams Co.(The)		7,063		1,145,195
Sigma-Aldrich Corp.		14,421		1,115,176
Total Chemicals				18,106,626
Construction Materials 3.4%
Vulcan Materials Co.		20,289		1,147,546
Total Construction Materials				1,147,546
Containers & Packaging 13.8%
Ball Corp.		23,659		1,053,299
Bemis Co., Inc.		32,105		1,145,506
Owens-Illinois, Inc.*		52,139		1,240,908
Sealed Air Corp.		64,906		1,215,040
Total Containers & Packaging				4,654,753
Metals & Mining 22.5%
Alcoa, Inc.		119,787		1,058,917
Allegheny Technologies, Inc.		36,811		1,165,068
Cliffs Natural Resources, Inc.(a)		30,828		1,150,193
Freeport-McMoRan Copper & Gold, Inc.		30,993		1,092,503
Newmont Mining Corp.		23,638		1,015,488
Nucor Corp.		24,762		1,139,300
United States Steel Corp.(a)		43,897		981,098
Total Metals & Mining				7,602,567
Paper & Forest Products 6.6%
International Paper Co.		27,508		1,139,381
MeadWestvaco Corp.		34,564		1,083,582
Total Paper & Forest Products				2,222,963
Total Common Stocks
(Cost $28,253,288)				33,734,455
SHORT TERM INVESTMENTS 0.0%(b)
SSgA Government Money Market Fund		9,508		9,508
Total Short Term Investments (Cost $9,508)				9,508

	Face Amount		Value
SECURITIES LENDING COLLATERAL 5.4%(c)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(d)	$	533,362	$	533,362
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(d)		533,362		533,362
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(d)		759,380		759,380
Total Securities Lending Collateral (Cost $1,826,104)				1,826,104
Total Investments 105.3%(e) (Cost $30,088,900)				35,570,067
Other Assets and Liabilities, net – (5.3)%				(1,804,651	)
Net Assets – 100.0%			$	33,765,416

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Amount represents less than 0.05% of net assets.

(c) Securities lending collateral (Note H).

(d) Values determined based on Level 2 inputs (Note G).

(e) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

GUGGENHEIM S&P 500^® EQUAL WEIGHT TECHNOLOGY ETF

SCHEDULE OF INVESTMENTS (Unaudited) January 31, 2013

	Shares		Value
COMMON STOCKS 99.9%
Communications Equipment 10.1%
Cisco Systems, Inc.		58,907	$	1,211,717
F5 Networks, Inc.*		12,941		1,357,252
Harris Corp.		24,286		1,122,013
JDS Uniphase Corp.*		92,998		1,349,401
Juniper Networks, Inc.*		59,719		1,336,511
Motorola Solutions, Inc.		21,644		1,263,793
QUALCOMM, Inc.		19,553		1,291,085
Total Communications Equipment				8,931,772
Computers & Peripherals 12.0%
Apple, Inc.		2,298		1,046,302
Dell, Inc.		112,169		1,485,118
EMC Corp.*		47,325		1,164,668
Hewlett-Packard Co.		79,316		1,309,507
NetApp, Inc.*		35,463		1,276,668
SanDisk Corp.*		27,417		1,370,576
Seagate Technology PLC		42,313		1,437,796
Western Digital Corp.		30,967		1,455,449
Total Computers & Peripherals				10,546,084
Electronic Equipment, Instruments & Components 8.5%
Amphenol Corp. - Class A		18,706		1,263,964
Corning, Inc.		92,704		1,112,448
FLIR Systems, Inc.		57,463		1,365,895
Jabil Circuit, Inc.		66,814		1,263,453
Molex, Inc.		43,816		1,190,043
TE Connectivity Ltd.		32,362		1,258,235
Total Electronic Equipment, Instruments & Components				7,454,038
Internet Software & Services 7.2%
Akamai Technologies, Inc.*		30,029		1,222,481
eBay, Inc.*		23,232		1,299,366
Google, Inc. - Class A*		1,666		1,258,980
VeriSign, Inc.*		32,589		1,414,688
Yahoo!, Inc.*		59,567		1,169,300
Total Internet Software & Services				6,364,815
IT Services 19.6%
Accenture PLC - Class A		16,664		1,197,975
Automatic Data Processing, Inc.		20,383		1,208,508
Cognizant Technology Solutions Corp. - Class A*		16,129		1,260,965
Computer Sciences Corp.		29,543		1,234,897
Fidelity National Information Services, Inc.		32,975		1,223,702
Fiserv, Inc.*		14,686		1,179,433
International Business Machines Corp.		6,102		1,239,133
Mastercard, Inc. - Class A		2,425		1,257,120
Paychex, Inc.		34,705		1,132,424
SAIC, Inc.		100,249		1,213,013
Teradata Corp.*		19,686		1,312,269
Total System Services, Inc.		53,275		1,238,644
Visa, Inc. - Class A		7,967		1,258,069
Western Union Co.(The)		89,237		1,269,843
Total IT Services				17,225,995
Office Electronics 1.5%
Xerox Corp.		167,850		1,344,478
Total Office Electronics				1,344,478

	Shares		Value
Semiconductors & Semiconductor Equipment 23.8%
Advanced Micro Devices, Inc.*(a)		489,504	$	1,272,710
Altera Corp.		35,602		1,189,819
Analog Devices, Inc.		28,294		1,234,750
Applied Materials, Inc.		105,683		1,364,368
Broadcom Corp. - Class A		36,493		1,184,198
First Solar, Inc.*		35,930		1,012,507
Intel Corp.		57,015		1,199,596
KLA-Tencor Corp.		24,796		1,361,548
Lam Research Corp.*		32,168		1,323,391
Linear Technology Corp.		34,840		1,275,841
LSI Corp.*		173,322		1,220,187
Microchip Technology, Inc.		37,000		1,237,650
Micron Technology, Inc.*		171,042		1,293,077
NVIDIA Corp.		92,923		1,139,236
Teradyne, Inc.*		70,947		1,146,504
Texas Instruments, Inc.		38,009		1,257,338
Xilinx, Inc.		33,075		1,206,907
Total Semiconductors & Semiconductor Equipment				20,919,627
Software 17.2%
Adobe Systems, Inc.*		31,131		1,177,686
Autodesk, Inc.*		34,187		1,329,190
BMC Software, Inc.*		29,116		1,209,770
CA, Inc.		53,518		1,328,317
Citrix Systems, Inc.*		17,993		1,316,368
Electronic Arts, Inc.*		76,465		1,202,794
Intuit, Inc.		19,441		1,212,730
Microsoft Corp.		43,636		1,198,681
Oracle Corp.		36,606		1,299,879
Red Hat, Inc.*		23,295		1,294,270
Salesforce.com, Inc.*		7,013		1,207,148
Symantec Corp.*		62,628		1,363,411
Total Software				15,140,244
Total Common Stocks
(Cost $91,114,567)				87,927,053
SHORT TERM INVESTMENTS 0.1%
SSgA Government Money Market Fund		44,994		44,994
Total Short Term Investments (Cost $44,994)				44,994
	Face Amount
SECURITIES LENDING COLLATERAL 0.8%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	209,245		209,245
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		209,245		209,245
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		297,915		297,915
Total Securities Lending Collateral (Cost $716,405)				716,405

GUGGENHEIM S&P 500^® EQUAL WEIGHT TECHNOLOGY ETF

SCHEDULE OF INVESTMENTS (Unaudited) (concluded) January 31, 2013

Total Investments 100.8%(d) (Cost $91,875,966)		88,688,452
Other Assets and Liabilities, net – (0.8)%		(743,647	)
Net Assets – 100.0%	$	87,944,805

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

2

GUGGENHEIM S&P 500^® EQUAL WEIGHT UTILITIES ETF

SCHEDULE OF INVESTMENTS (Unaudited) January 31, 2013

	Shares		Value
COMMON STOCKS 99.6%
Diversified Telecommunication Services 12.6%
AT&T, Inc.		28,379	$	987,305
CenturyLink, Inc.		24,710		999,519
Frontier Communications Corp.(a)		209,824		958,896
Verizon Communications, Inc.		21,832		952,094
Windstream Corp.(a)		109,680		1,068,283
Total Diversified Telecommunication Services				4,966,097
Electric Utilities 33.2%
American Electric Power Co., Inc.		22,530		1,020,384
Duke Energy Corp.		15,126		1,039,761
Edison International		21,540		1,038,013
Entergy Corp.		15,224		983,470
Exelon Corp.		32,542		1,023,121
FirstEnergy Corp.		23,680		958,803
NextEra Energy, Inc.		13,893		1,000,991
Northeast Utilities		24,947		1,016,091
Pepco Holdings, Inc.		49,599		968,172
Pinnacle West Capital Corp.		19,019		1,015,234
PPL Corp.		33,525		1,015,472
Southern Co.(The)		22,473		993,981
Xcel Energy, Inc.		35,827		995,274
Total Electric Utilities				13,068,767
Gas Utilities 5.3%
AGL Resources, Inc.		24,343		1,017,538
Oneok, Inc.		22,499		1,057,678
Total Gas Utilities				2,075,216
Independent Power Producers & Energy Traders 5.0%
AES Corp.(The)		89,869		974,180
NRG Energy, Inc.		41,965		1,007,160
Total Independent Power Producers & Energy Traders				1,981,340
Multi-Utilities 36.2%
Ameren Corp.		32,807		1,064,259
CenterPoint Energy, Inc.		49,069		1,002,970
CMS Energy Corp.		40,166		1,032,266
Consolidated Edison, Inc.		17,199		978,279
Dominion Resources, Inc.		18,855		1,020,244
DTE Energy Co.		15,941		1,009,225
Integrys Energy Group, Inc.		18,256		998,421
NiSource, Inc.		39,967		1,080,308
PG&E Corp.		23,826		1,015,941
Public Service Enterprise Group, Inc.		32,109		1,001,158
SCANA Corp.		21,148		989,938
Sempra Energy		13,499		1,013,100
TECO Energy, Inc.		58,144		1,033,219
Wisconsin Energy Corp.		26,051		1,027,191
Total Multi-Utilities				14,266,519
Wireless Telecommunication Services 7.3%
Crown Castle International Corp.*		13,564		956,534
MetroPCS Communications, Inc.*		96,039		963,271
Sprint Nextel Corp.*		173,908		979,102
Total Wireless Telecommunication Services				2,898,907
Total Common Stocks (Cost $36,456,178)				39,256,846

	Shares		Value
SHORT TERM INVESTMENTS 0.3%
SSgA Government Money Market Fund		98,697	$	98,697
Total Short Term Investments
(Cost $98,697)				98,697
	Face Amount
SECURITIES LENDING COLLATERAL 2.3%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	269,251		269,251
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		269,251		269,251
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		383,348		383,348
Total Securities Lending Collateral (Cost $921,850)				921,850
Total Investments 102.2%(d) (Cost $37,476,725)				40,277,393
Other Assets and Liabilities, net – (2.2)%				(865,961	)
Net Assets – 100.0%			$	39,411,432

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

GUGGENHEIM RUSSELL TOP 50^® MEGA CAP ETF

SCHEDULE OF INVESTMENTS (Unaudited) January 31, 2013

	Shares		Value
COMMON STOCKS 99.7%
Aerospace & Defense 1.2%
United Technologies Corp.		81,629	$	7,148,252
Total Aerospace & Defense				7,148,252
Air Freight & Logistics 0.9%
United Parcel Service, Inc. - Class B		64,873		5,143,780
Total Air Freight & Logistics				5,143,780
Beverages 3.9%
Coca-Cola Co.(The)		347,922		12,956,615
PepsiCo, Inc.		140,067		10,203,881
Total Beverages				23,160,496
Biotechnology 1.0%
Amgen, Inc.		69,657		5,952,887
Total Biotechnology				5,952,887
Commercial Banks 3.5%
US Bancorp		169,634		5,614,886
Wells Fargo & Co.		438,793		15,283,160
Total Commercial Banks				20,898,046
Communications Equipment 3.4%
Cisco Systems, Inc.		479,764		9,868,745
QUALCOMM, Inc.		153,528		10,137,454
Total Communications Equipment				20,006,199
Computers & Peripherals 6.5%
Apple, Inc.		83,745		38,129,936
Total Computers & Peripherals				38,129,936
Consumer Finance 0.9%
American Express Co.		89,677		5,273,904
Total Consumer Finance				5,273,904
Diversified Financial Services 6.4%
Bank of America Corp.		965,146		10,925,453
Citigroup, Inc.		262,599		11,071,174
JPMorgan Chase & Co.		340,925		16,040,521
Total Diversified Financial Services				38,037,148
Diversified Telecommunication Services 5.0%
AT&T, Inc.		525,085		18,267,707
Verizon Communications, Inc.		254,440		11,096,129
Total Diversified Telecommunication Services				29,363,836
Energy Equipment & Services 1.6%
Schlumberger Ltd.		119,440		9,322,292
Total Energy Equipment & Services				9,322,292
Food & Staples Retailing 2.8%
CVS Caremark Corp.		114,769		5,876,173
Wal-Mart Stores, Inc.		151,366		10,588,051
Total Food & Staples Retailing				16,464,224
Food Products 1.2%
Kraft Foods Group, Inc.		52,929		2,446,379
Mondelez International, Inc. - Class A		158,789		4,412,746
Total Food Products				6,859,125
Health Care Equipment & Supplies 0.8%
Abbott Laboratories		140,912		4,774,099
Total Health Care Equipment & Supplies				4,774,099

	Shares		Value
Health Care Providers & Services 0.9%
UnitedHealth Group, Inc.		92,909	$	5,129,506
Total Health Care Providers & Services				5,129,506
Hotels, Restaurants & Leisure 1.5%
McDonald’s Corp.		91,008		8,672,152
Total Hotels, Restaurants & Leisure				8,672,152
Household Products 3.1%
Procter & Gamble Co.(The)		245,408		18,444,865
Total Household Products				18,444,865
Industrial Conglomerates 4.6%
3M Co.		62,138		6,247,976
General Electric Co.		948,907		21,141,648
Total Industrial Conglomerates				27,389,624
Insurance 2.6%
Berkshire Hathaway, Inc. - Class B*		159,494		15,459,753
Total Insurance				15,459,753
Internet & Catalog Retail 1.5%
Amazon.com, Inc.*		32,405		8,603,527
Total Internet & Catalog Retail				8,603,527
Internet Software & Services 3.2%
Facebook, Inc. - Class A*		37,718		1,168,126
Google, Inc. - Class A*		23,185		17,520,673
Total Internet Software & Services				18,688,799
IT Services 4.6%
International Business Machines Corp.		97,621		19,823,896
Visa, Inc. - Class A		46,805		7,390,978
Total IT Services				27,214,874
Machinery 1.0%
Caterpillar, Inc.		58,444		5,750,305
Total Machinery				5,750,305
Media 3.0%
Comcast Corp. - Class A		240,498		9,158,164
Walt Disney Co.(The)		160,073		8,624,733
Total Media				17,782,897
Oil, Gas & Consumable Fuels 12.0%
Chevron Corp.		176,664		20,342,860
ConocoPhillips		113,251		6,568,558
Exxon Mobil Corp.		418,794		37,678,896
Occidental Petroleum Corp.		72,641		6,412,021
Total Oil, Gas & Consumable Fuels				71,002,335
Pharmaceuticals 10.0%
AbbVie, Inc.		140,912		5,170,061
Bristol-Myers Squibb Co.		151,273		5,467,006
Johnson & Johnson		245,969		18,182,029
Merck & Co., Inc.		272,395		11,781,084
Pfizer, Inc.		670,628		18,294,732
Total Pharmaceuticals				58,894,912
Road & Rail 0.9%
Union Pacific Corp.		42,649		5,606,638
Total Road & Rail				5,606,638
Semiconductors & Semiconductor Equipment 1.6%
Intel Corp.		450,572		9,480,035
Total Semiconductors & Semiconductor Equipment				9,480,035

GUGGENHEIM RUSSELL TOP 50^® MEGA CAP ETF

SCHEDULE OF INVESTMENTS (Unaudited) (concluded) January 31, 2013

	Shares		Value
Software 5.2%
Microsoft Corp.		674,123	$	18,518,159
Oracle Corp.		342,189		12,151,131
Total Software				30,669,290
Specialty Retail 1.6%
Home Depot, Inc.		137,083		9,173,594
Total Specialty Retail				9,173,594
Tobacco 3.3%
Altria Group, Inc.		182,241		6,137,877
Philip Morris International, Inc.		152,750		13,466,440
Total Tobacco				19,604,317
Total Common Stocks (Cost $577,061,430)				588,101,647
	Face Amount
REPURCHASE AGREEMENT 0.2%
State Street Bank & Trust Co., 0. 010%, dated 01/31/13, to be repurchased at $950,000 on 02/01/13 collateralized by $1,000,000 FHLMC at 2. 000% due 01/30/23 with a value of $972,670(a)	$	950,000		950,000
Total Repurchase Agreements (Cost $950,000)				950,000
Total Investments 99.9%(b) (Cost $578,011,430)				589,051,647
Other Assets and Liabilities, net – 0.1%				860,761
Net Assets – 100.0%			$	589,912,408

* Non-Income Producing Security.

(a) Values determined based on Level 2 inputs. (Note G)

(b) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs. (Note G)

2

GUGGENHEIM S&P 500® PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 99.5%
Aerospace & Defense 2.8%
General Dynamics Corp.		9,919	$	657,630
L-3 Communications Holdings, Inc.		16,557		1,257,008
Northrop Grumman Corp.		12,355		803,569
Raytheon Co.		7,940		418,279
Textron, Inc.		24,744		711,637
Total Aerospace & Defense				3,848,123
Air Freight & Logistics 0.4%
FedEx Corp.		5,768		585,164
Total Air Freight & Logistics				585,164
Auto Components 1.5%
Goodyear Tire & Rubber Co.(The)*		82,066		1,129,228
Johnson Controls, Inc.		33,187		1,031,784
Total Auto Components				2,161,012
Automobiles 1.1%
Ford Motor Co.		114,612		1,484,225
Total Automobiles				1,484,225
Beverages 0.6%
Molson Coors Brewing Co. - Class B		17,116		773,301
Total Beverages				773,301
Capital Markets 3.9%
E*Trade Financial Corp.*		113,343		1,202,569
Goldman Sachs Group, Inc.(The)		8,076		1,194,117
Legg Mason, Inc.		44,287		1,224,536
Morgan Stanley		44,967		1,027,496
State Street Corp.		13,730		764,075
Total Capital Markets				5,412,793
Chemicals 0.7%
Dow Chemical Co.(The)		14,393		463,455
LyondellBasell Industries NV - Class A		8,224		521,566
Total Chemicals				985,021
Commercial Banks 3.1%
BB&T Corp.		20,815		630,278
Fifth Third Bancorp		52,180		850,012
PNC Financial Services Group, Inc.		16,002		988,924
SunTrust Banks, Inc.		47,139		1,337,334
Wells Fargo & Co.		13,821		481,385
Total Commercial Banks				4,287,933
Commercial Services & Supplies 0.9%
Avery Dennison Corp.		12,328		474,751
Pitney Bowes, Inc.(a)		49,714		716,379
Total Commercial Services & Supplies				1,191,130
Computers & Peripherals 2.8%
Dell, Inc.		165,901		2,196,529
Western Digital Corp.		35,772		1,681,284
Total Computers & Peripherals				3,877,813
Construction & Engineering 1.7%
Fluor Corp.		19,108		1,238,772
Jacobs Engineering Group, Inc.*		24,155		1,162,097
Total Construction & Engineering				2,400,869

	Shares		Value
Consumer Finance 0.7%
Capital One Financial Corp.		16,680	$	939,418
Total Consumer Finance				939,418
Diversified Consumer Services 0.5%
Apollo Group, Inc. - Class A*		33,296		673,245
Total Diversified Consumer Services				673,245
Diversified Financial Services 5.2%
Citigroup, Inc.		30,782		1,297,769
CME Group, Inc.		13,442		777,485
JPMorgan Chase & Co.		25,300		1,190,365
Leucadia National Corp.		54,905		1,397,332
NASDAQ OMX Group, Inc.(The)		47,790		1,353,413
NYSE Euronext		35,061		1,212,059
Total Diversified Financial Services				7,228,423
Diversified Telecommunication Services 0.4%
Frontier Communications Corp.(a)		115,307		526,953
Total Diversified Telecommunication Services				526,953
Electric Utilities 2.0%
Entergy Corp.		8,308		536,697
Exelon Corp.		18,617		585,318
FirstEnergy Corp.		9,955		403,078
Pepco Holdings, Inc.		43,130		841,898
PPL Corp.		14,174		429,330
Total Electric Utilities				2,796,321
Electronic Equipment, Instruments & Components 1.9%
Corning, Inc.		77,310		927,720
Jabil Circuit, Inc.		87,760		1,659,542
Total Electronic Equipment, Instruments & Components				2,587,262
Energy Equipment & Services 2.6%
Baker Hughes, Inc.		18,352		820,701
Ensco PLC - Class A		7,025		446,579
Nabors Industries Ltd.*		106,837		1,780,973
Rowan Cos., PLC - Class A*		17,250		594,780
Total Energy Equipment & Services				3,643,033
Food & Staples Retailing 4.0%
CVS Caremark Corp.		18,078		925,594
Kroger Co.(The)		39,981		1,107,474
Safeway, Inc.(a)		103,302		1,988,563
Sysco Corp.		15,828		502,855
Walgreen Co.		27,646		1,104,734
Total Food & Staples Retailing				5,629,220
Food Products 4.3%
Archer-Daniels-Midland Co.		75,505		2,154,157
Dean Foods Co.*		48,658		890,928
Mondelez International, Inc. - Class A		26,076		724,652
Tyson Foods, Inc. - Class A		100,923		2,232,417
Total Food Products				6,002,154
Health Care Providers & Services 10.9%
Aetna, Inc.		30,206		1,456,835
AmerisourceBergen Corp.		25,700		1,166,009
Cardinal Health, Inc.		34,152		1,496,199
CIGNA Corp.		17,876		1,042,886
Coventry Health Care, Inc.		28,089		1,287,319
Humana, Inc.		30,360		2,257,570
McKesson Corp.		12,792		1,346,102
Tenet Healthcare Corp.*		34,127		1,325,151

GUGGENHEIM S&P 500® PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (concluded)	January 31, 2013

	Shares		Value
UnitedHealth Group, Inc.		15,536	$	857,742
WellPoint, Inc.		44,752		2,900,825
Total Health Care Providers & Services				15,136,638
Household Durables 1.3%
Harman International Industries, Inc.		18,147		812,623
Whirlpool Corp.		8,682		1,001,729
Total Household Durables				1,814,352
Independent Power Producers & Energy Traders 1.0%
NRG Energy, Inc.		59,400		1,425,600
Total Independent Power Producers & Energy Traders				1,425,600
Insurance 18.3%
ACE Ltd.		10,192		869,683
Aflac, Inc.		10,319		547,526
Allstate Corp.(The)		34,579		1,518,018
American International Group, Inc.*		46,843		1,772,071
Assurant, Inc.		70,244		2,686,131
Berkshire Hathaway, Inc. - Class B*		5,131		497,348
Chubb Corp.(The)		6,343		509,406
Genworth Financial, Inc. - Class A*		398,461		3,653,887
Hartford Financial Services Group, Inc.		94,085		2,333,308
Lincoln National Corp.		63,462		1,839,129
Loews Corp.		24,384		1,057,534
MetLife, Inc.		54,944		2,051,609
Principal Financial Group, Inc.		46,893		1,454,152
Torchmark Corp.		12,938		720,776
Travelers Cos., Inc.(The)		12,185		956,035
Unum Group		77,323		1,802,399
XL Group PLC		41,291		1,144,587
Total Insurance				25,413,599
IT Services 0.9%
SAIC, Inc.		105,110		1,271,831
Total IT Services				1,271,831
Media 0.7%
Washington Post Co.(The) - Class B		2,548		982,713
Total Media				982,713
Metals & Mining 4.9%
Alcoa, Inc.		201,061		1,777,379
Allegheny Technologies, Inc.		42,233		1,336,675
Cliffs Natural Resources, Inc.(a)		55,868		2,084,435
United States Steel Corp.(a)		73,457		1,641,764
Total Metals & Mining				6,840,253
Multi-Utilities 1.2%
Ameren Corp.		24,003		778,657
Integrys Energy Group, Inc.		8,489		464,263
Public Service Enterprise Group, Inc.		13,376		417,064
Total Multi-Utilities				1,659,984
Multiline Retail 3.1%
Big Lots, Inc.*		44,965		1,445,625
J.C. Penney Co., Inc.(a)		50,278		1,022,152
Kohl’s Corp.		19,178		887,749
Macy’s, Inc.		11,447		452,271
Target Corp.		7,264		438,818
Total Multiline Retail				4,246,615
Office Electronics 1.9%
Xerox Corp.		322,794		2,585,580
Total Office Electronics				2,585,580

	Shares		Value
Oil, Gas & Consumable Fuels 11.1%
Apache Corp.		8,367	$	700,820
Chevron Corp.		5,545		638,507
ConocoPhillips		29,520		1,712,160
Devon Energy Corp.		8,295		474,391
Hess Corp.		35,929		2,412,992
Marathon Oil Corp.		17,583		590,965
Murphy Oil Corp.		24,494		1,457,883
Newfield Exploration Co.*		45,258		1,335,111
Peabody Energy Corp.		35,836		901,275
Phillips 66		33,534		2,031,154
Valero Energy Corp.		61,426		2,686,159
WPX Energy, Inc.*		33,303		500,544
Total Oil, Gas & Consumable Fuels				15,441,961
Road & Rail 1.0%
Ryder System, Inc.		24,699		1,402,409
Total Road & Rail				1,402,409
Specialty Retail 1.6%
Best Buy Co., Inc.		40,558		659,473
Staples, Inc.		112,568		1,517,417
Total Specialty Retail				2,176,890
Thrifts & Mortgage Finance 0.5%
People’s United Financial, Inc.		59,762		735,670
Total Thrifts & Mortgage Finance				735,670
Total Common Stocks (Cost $125,428,044)				138,167,508
SHORT TERM INVESTMENTS 0.5%
SSgA Government Money Market Fund		734,078		734,078
Total Short Term Investments (Cost $734,078)				734,078
	Face Amount
SECURITIES LENDING COLLATERAL 2.5%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	1,025,362		1,025,362
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		1,025,362		1,025,362
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		1,459,869		1,459,869
Total Securities Lending Collateral (Cost $3,510,593)				3,510,593
Total Investments 102.5%(d) (Cost $129,672,715)				142,412,179
Other Assets and Liabilities, net – (2.5)%				(3,469,138	)
Net Assets – 100.0%			$	138,943,041

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013. (b)Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Investments are determined based on Level 1 inputs (Note G).

2

GUGGENHEIM S&P 500® PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 99.9%
Aerospace & Defense 1.0%
Boeing Co.(The)		52,294	$	3,862,958
Total Aerospace & Defense				3,862,958
Airlines 1.9%
Southwest Airlines Co.		619,259		6,941,893
Total Airlines				6,941,893
Auto Components 2.1%
BorgWarner, Inc.*		44,575		3,306,574
Delphi Automotive PLC*		111,740		4,319,868
Total Auto Components				7,626,442
Beverages 1.7%
Constellation Brands, Inc. - Class A*		62,344		2,017,452
Dr Pepper Snapple Group, Inc.		40,216		1,812,535
Monster Beverage Corp.*		49,736		2,382,354
Total Beverages				6,212,341
Biotechnology 5.3%
Alexion Pharmaceuticals, Inc.*		48,812		4,587,840
Amgen, Inc.		35,659		3,047,418
Biogen Idec, Inc.*		13,135		2,050,111
Celgene Corp.*		49,148		4,863,686
Gilead Sciences, Inc.*		130,078		5,131,577
Total Biotechnology				19,680,632
Building Products 0.4%
Masco Corp.		85,022		1,563,555
Total Building Products				1,563,555
Capital Markets 2.6%
Ameriprise Financial, Inc.		53,732		3,563,506
Franklin Resources, Inc.		27,587		3,776,109
T. Rowe Price Group, Inc.		31,439		2,246,316
Total Capital Markets				9,585,931
Chemicals 5.6%
CF Industries Holdings, Inc.		16,949		3,884,202
Eastman Chemical Co.		63,781		4,538,018
Ecolab, Inc.		26,312		1,904,989
FMC Corp.		26,373		1,621,148
Mosaic Co.(The)		37,826		2,316,843
PPG Industries, Inc.(a)		16,285		2,245,213
Sherwin-Williams Co.(The)		25,055		4,062,418
Total Chemicals				20,572,831
Commercial Banks 3.7%
Huntington Bancshares, Inc.		814,181		5,666,700
US Bancorp		102,572		3,395,133
Zions Bancorp		199,168		4,644,598
Total Commercial Banks				13,706,431
Commercial Services & Supplies 1.0%
Cintas Corp.		47,677		2,014,830
Stericycle, Inc.*		16,903		1,594,798
Total Commercial Services & Supplies				3,609,628
Communications Equipment 0.7%
QUALCOMM, Inc.		41,862		2,764,148
Total Communications Equipment				2,764,148
Computers & Peripherals 3.2%
Apple, Inc.		9,928		4,520,318

	Shares		Value
Seagate Technology PLC		214,049	$	7,273,385
Total Computers & Peripherals				11,793,703
Construction & Engineering 0.9%
Quanta Services, Inc.*		110,086		3,189,191
Total Construction & Engineering				3,189,191
Consumer Finance 4.4%
American Express Co.		34,889		2,051,822
Discover Financial Services		144,924		5,563,633
SLM Corp.		505,643		8,540,310
Total Consumer Finance				16,155,765
Containers & Packaging 0.5%
Ball Corp.		45,490		2,025,215
Total Containers & Packaging				2,025,215
Diversified Financial Services 2.5%
Bank of America Corp.		531,623		6,017,972
Moody’s Corp.		60,641		3,324,340
Total Diversified Financial Services				9,342,312
Electronic Equipment, Instruments & Components 0.7%
Amphenol Corp. - Class A		41,215		2,784,898
Total Electronic Equipment, Instruments & Components				2,784,898
Health Care Equipment & Supplies 1.4%
Edwards Lifesciences Corp.*		16,208		1,457,585
Intuitive Surgical, Inc.*		6,179		3,549,094
Total Health Care Equipment & Supplies				5,006,679
Health Care Providers & Services 0.7%
DaVita, Inc.*		21,988		2,537,635
Total Health Care Providers & Services				2,537,635
Health Care Technology 0.4%
Cerner Corp.*		19,346		1,597,012
Total Health Care Technology				1,597,012
Hotels, Restaurants & Leisure 1.4%
Wyndham Worldwide Corp.		50,111		2,795,693
Wynn Resorts Ltd.		18,178		2,276,249
Total Hotels, Restaurants & Leisure				5,071,942
Household Durables 4.6%
DR Horton, Inc.		208,768		4,939,451
Leggett & Platt, Inc.		56,777		1,671,515
Lennar Corp. - Class A(a)		69,468		2,885,700
Newell Rubbermaid, Inc.		243,208		5,710,524
PulteGroup, Inc.*		80,638		1,672,432
Total Household Durables				16,879,622
Internet & Catalog Retail 5.4%
Amazon.com, Inc.*		15,220		4,040,910
Netflix, Inc.*		38,740		6,401,398
priceline.com, Inc.*		6,650		4,558,375
TripAdvisor, Inc.*		108,093		5,002,544
Total Internet & Catalog Retail				20,003,227
Internet Software & Services 3.6%
Akamai Technologies, Inc.*		45,707		1,860,732
eBay, Inc.*		88,425		4,945,610
Google, Inc. - Class A*		4,257		3,216,973
Yahoo!, Inc.*		171,513		3,366,800
Total Internet Software & Services				13,390,115

GUGGENHEIM S&P 500^® PURE GROWTH ETF SCHEDULE OF INVESTMENTS (Unaudited) (concluded) January 31, 2013

	Shares		Value
IT Services 2.3%
Cognizant Technology Solutions Corp. - Class A*		28,517	$	2,229,459
Mastercard, Inc. - Class A		3,744		1,940,890
Visa, Inc. - Class A		27,318		4,313,785
Total IT Services				8,484,134
Life Sciences Tools & Services 4.1%
Agilent Technologies, Inc.		126,742		5,675,507
Life Technologies Corp.*		101,707		6,579,426
PerkinElmer, Inc.		80,942		2,852,396
Total Life Sciences Tools & Services				15,107,329
Machinery 2.9%
Cummins, Inc.		20,465		2,349,996
Illinois Tool Works, Inc.		30,068		1,889,172
PACCAR, Inc.		88,929		4,184,999
Snap-on, Inc.		29,263		2,370,888
Total Machinery				10,795,055
Media 7.6%
CBS Corp. - Class B		62,628		2,612,840
Comcast Corp. - Class A		152,192		5,795,471
DIRECTV*		54,817		2,803,341
Discovery Communications, Inc. - Class A*		44,957		3,119,117
News Corp. - Class A		86,835		2,408,803
Scripps Networks Interactive, Inc. - Class A		89,258		5,513,467
Time Warner Cable, Inc.		29,935		2,674,393
Time Warner, Inc.		66,073		3,338,008
Total Media				28,265,440
Oil, Gas & Consumable Fuels 5.9%
Denbury Resources, Inc.*		373,578		6,959,758
EOG Resources, Inc.		23,495		2,936,405
Noble Energy, Inc.		19,998		2,155,585
Pioneer Natural Resources Co.		15,304		1,798,832
Tesoro Corp.		165,742		8,069,978
Total Oil, Gas & Consumable Fuels				21,920,558
Pharmaceuticals 4.5%
AbbVie, Inc.		71,611		2,627,407
Actavis, Inc.*		38,641		3,338,196
Eli Lilly & Co.		93,049		4,995,801
Mylan, Inc.*		197,706		5,589,149
Total Pharmaceuticals				16,550,553
Professional Services 0.4%
Equifax, Inc.		27,856		1,635,147
Total Professional Services				1,635,147
Real Estate Investment Trusts (REITs) 1.3%
American Tower Corp.		34,495		2,626,794
Health Care REIT, Inc.		35,193		2,211,528
Total Real Estate Investment Trusts (REITs)				4,838,322
Semiconductors & Semiconductor Equipment 5.0%
Applied Materials, Inc.		264,206		3,410,900
Broadcom Corp. - Class A		83,223		2,700,586
Intel Corp.		137,243		2,887,593
KLA-Tencor Corp.		51,578		2,832,148
LSI Corp.*		353,500		2,488,640
Teradyne, Inc.*		250,444		4,047,175
Total Semiconductors & Semiconductor Equipment				18,367,042

	Shares		Value
Software 1.7%
Adobe Systems, Inc.*		66,840	$	2,528,557
Salesforce.com, Inc.*		22,186		3,818,876
Total Software				6,347,433
Specialty Retail 6.9%
AutoZone, Inc.*		6,202		2,292,879
Gap, Inc.(The)		133,044		4,347,878
Home Depot, Inc.		43,067		2,882,044
Limited Brands, Inc.		39,190		1,881,904
Lowe’s Cos., Inc.		74,943		2,862,073
PetSmart, Inc.		37,374		2,444,633
Ross Stores, Inc.		38,057		2,272,003
TJX Cos., Inc.		61,616		2,783,811
Urban Outfitters, Inc.*		86,396		3,696,885
Total Specialty Retail				25,464,110
Textiles, Apparel & Luxury Goods 0.6%
Fossil, Inc.*		21,444		2,264,058
Total Textiles, Apparel & Luxury Goods				2,264,058
Wireless Telecommunication Services 1.0%
Crown Castle International Corp.*		51,489		3,631,004
Total Wireless Telecommunication Services				3,631,004
Total Common Stocks (Cost $322,251,847)				369,574,291
SHORT TERM INVESTMENTS 0.1%
SSgA Government Money Market Fund		328,349		328,349
Total Short Term Investments (Cost $328,349)				328,349
	Face Amount
SECURITIES LENDING COLLATERAL 0.9%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	963,356		963,356
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		963,356		963,356
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		1,371,588		1,371,588
Total Securities Lending Collateral (Cost $3,298,300)				3,298,300
Total Investments 100.9%(d) (Cost $325,878,496)				373,200,940
Other Assets and Liabilities, net – (0.9)%				(3,325,121	)
Net Assets – 100.0%			$	369,875,819

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs. (Note G)

2

GUGGENHEIM S&P MIDCAP 400^® PURE VALUE ETF

SCHEDULE OF INVESTMENTS (Unaudited) January 31, 2013

	Shares		Value
COMMON STOCKS 99.9%
Aerospace & Defense 3.7%
Alliant Techsystems, Inc.		6,860	$	443,979
Esterline Technologies Corp.*		3,047		202,290
Exelis, Inc.		35,868		394,189
Huntington Ingalls Industries, Inc.		11,222		497,135
Total Aerospace & Defense				1,537,593
Air Freight & Logistics 1.2%
UTi Worldwide, Inc.		33,426		493,368
Total Air Freight & Logistics				493,368
Airlines 2.3%
JetBlue Airways Corp.*		162,194		942,347
Total Airlines				942,347
Capital Markets 0.9%
Apollo Investment Corp.		25,610		230,490
Janus Capital Group, Inc.		17,327		161,141
Total Capital Markets				391,631
Chemicals 1.6%
Cabot Corp.		5,964		223,233
Minerals Technologies, Inc.		6,539		270,518
Olin Corp.		7,647		177,869
Total Chemicals				671,620
Commercial Banks 3.4%
Associated Banc-Corp.		23,916		341,281
BancorpSouth, Inc.		18,209		264,031
First Niagara Financial Group, Inc.		42,580		333,827
FirstMerit Corp.(a)		14,628		222,785
International Bancshares Corp.		14,313		279,819
Total Commercial Banks				1,441,743
Commercial Services & Supplies 1.5%
Brink’s Co.(The)		10,732		320,028
R.R. Donnelley & Sons Co.(a)		33,175		305,210
Total Commercial Services & Supplies				625,238
Computers & Peripherals 1.9%
Diebold, Inc.		5,199		153,059
Lexmark International, Inc. - Class A(a)		18,116		435,871
QLogic Corp.*		16,100		185,955
Total Computers & Peripherals				774,885
Construction & Engineering 4.5%
Aecom Technology Corp.*		19,370		495,291
Granite Construction, Inc.		6,795		247,066
KBR, Inc.		7,801		243,547
URS Corp.		21,479		890,949
Total Construction & Engineering				1,876,853
Containers & Packaging 1.7%
Greif, Inc. - Class A		7,388		347,089
Rock Tenn Co. - Class A		4,396		347,064
Total Containers & Packaging				694,153
Diversified Consumer Services 1.0%
DeVry, Inc.		8,275		208,282
Regis Corp.		12,337		218,982
Total Diversified Consumer Services				427,264
Electric Utilities 1.1%
Great Plains Energy, Inc.		13,133		281,046

	Shares		Value
Hawaiian Electric Industries, Inc.		7,038	$	189,815
Total Electric Utilities				470,861
Electrical Equipment 1.8%
General Cable Corp.*		22,820		767,208
Total Electrical Equipment				767,208
Electronic Equipment, Instruments & Components 9.6%
Arrow Electronics, Inc.*		19,162		736,204
Avnet, Inc.*		24,195		855,535
Ingram Micro, Inc. - Class A*		56,268		1,022,952
Tech Data Corp.*		17,739		903,093
Vishay Intertechnology, Inc.*		46,602		512,156
Total Electronic Equipment, Instruments & Components				4,029,940
Energy Equipment & Services 3.1%
Helix Energy Solutions Group, Inc.*		9,087		215,544
Superior Energy Services, Inc.*		26,852		670,495
Tidewater, Inc.		5,113		251,406
Unit Corp.*		3,348		161,139
Total Energy Equipment & Services				1,298,584
Food & Staples Retailing 0.8%
Harris Teeter Supermarkets, Inc.		7,781		322,834
Total Food & Staples Retailing				322,834
Food Products 2.3%
Post Holdings, Inc.*		6,482		246,251
Smithfield Foods, Inc.*		30,506		711,095
Total Food Products				957,346
Gas Utilities 0.9%
Atmos Energy Corp.		4,251		158,817
UGI Corp.		5,700		200,868
Total Gas Utilities				359,685
Health Care Providers & Services 10.9%
Community Health Systems, Inc.		24,800		950,584
Health Management Associates, Inc. - Class A*		53,649		560,095
Health Net, Inc.*		21,826		593,667
LifePoint Hospitals, Inc.*		16,628		726,810
Omnicare, Inc.		7,875		306,731
Owens & Minor, Inc.		17,308		529,798
Universal Health Services, Inc. - Class B		5,565		315,202
WellCare Health Plans, Inc.*		11,121		563,946
Total Health Care Providers & Services				4,546,833
Hotels, Restaurants & Leisure 1.4%
Wendy’s Co.(The)		44,524		228,853
WMS Industries, Inc.*		13,581		336,130
Total Hotels, Restaurants & Leisure				564,983
Insurance 15.2%
American Financial Group, Inc.		13,091		557,153
Aspen Insurance Holdings Ltd.		16,077		548,386
Everest Re Group Ltd.		3,654		423,170
Hanover Insurance Group, Inc.(The)		20,969		871,472
HCC Insurance Holdings, Inc.		6,107		236,219
Kemper Corp.		15,591		519,336
Mercury General Corp.		6,495		257,202
Old Republic International Corp.		44,037		502,022
Protective Life Corp.		21,930		693,865
Reinsurance Group of America, Inc.		14,615		838,755
StanCorp Financial Group, Inc.		18,434		716,898

GUGGENHEIM S&P MIDCAP 400® PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (concluded)	January 31, 2013

	Shares		Value
W.R. Berkley Corp.		5,182	$	213,343
Total Insurance				6,377,821
Internet Software & Services 1.4%
Monster Worldwide, Inc.*		103,854		602,353
Total Internet Software & Services				602,353
IT Services 2.3%
Convergys Corp.		12,159		206,946
ManTech International Corp. - Class A		30,707		757,542
Total IT Services				964,488
Machinery 4.1%
AGCO Corp.*		8,540		452,620
Oshkosh Corp.*		17,833		698,697
SPX Corp.		2,479		185,008
Trinity Industries, Inc.		9,138		362,778
Total Machinery				1,699,103
Media 2.0%
Scholastic Corp.		18,820		558,201
Valassis Communications, Inc.(a)		9,638		270,443
Total Media				828,644
Metals & Mining 4.2%
Commercial Metals Co.		47,707		794,322
Reliance Steel & Aluminum Co.		6,911		447,280
Steel Dynamics, Inc.		33,883		515,360
Total Metals & Mining				1,756,962
Multiline Retail 0.7%
Saks, Inc.*		27,209		294,129
Total Multiline Retail				294,129
Oil, Gas & Consumable Fuels 3.2%
Alpha Natural Resources, Inc.*		35,165		311,562
Arch Coal, Inc.(a)		43,221		307,734
Bill Barrett Corp.*		11,150		178,065
World Fuel Services Corp.		12,203		526,071
Total Oil, Gas & Consumable Fuels				1,323,432
Paper & Forest Products 1.1%
Domtar Corp.		5,774		480,570
Total Paper & Forest Products				480,570
Professional Services 2.6%
FTI Consulting, Inc.*		8,692		282,490
Manpower, Inc.		15,257		785,736
Total Professional Services				1,068,226
Road & Rail 1.3%
Con-way, Inc.		17,630		553,229
Total Road & Rail				553,229
Semiconductors & Semiconductor Equipment 0.4%
Intersil Corp. - Class A		21,148		182,930
Total Semiconductors & Semiconductor Equipment				182,930
Specialty Retail 1.8%
Aeropostale, Inc.*		12,423		168,083
Barnes & Noble, Inc.*(a)		25,415		339,036
Rent-A-Center, Inc.		7,259		259,001
Total Specialty Retail				766,120
Thrifts & Mortgage Finance 1.2%
Astoria Financial Corp.		34,837		339,312

	Shares		Value
New York Community Bancorp, Inc.(a)		11,942	$	159,426
Total Thrifts & Mortgage Finance				498,738
Tobacco 1.2%
Universal Corp.		9,369		509,486
Total Tobacco				509,486
Wireless Telecommunication Services 1.6%
Telephone & Data Systems, Inc.		26,812		678,076
Total Wireless Telecommunication Services				678,076
Total Common Stocks (Cost $37,983,639)				41,779,276
SHORT TERM INVESTMENTS 0.1%
SSgA Government Money Market Fund		46,100		46,100
Total Short Term Investments (Cost $46,100)				46,100
	Face Amount
SECURITIES LENDING COLLATERAL 1.1%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	138,809		138,809
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		138,809		138,809
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		197,631		197,631
Total Securities Lending Collateral (Cost $475,249)				475,249
Total Investments 101.1%(d) (Cost $38,504,988)				42,300,625
Other Assets and Liabilities, net – (1.1)%				(463,487	)
Net Assets – 100.0%			$	41,837,138

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

2

GUGGENHEIM S&P MIDCAP 400^® PURE GROWTH ETF

SCHEDULE OF INVESTMENTS (Unaudited) January 31, 2013

	Shares		Value
COMMON STOCKS 99.8%
Aerospace & Defense 0.5%
B/E Aerospace, Inc.*		53,350	$	2,746,991
Total Aerospace & Defense				2,746,991
Airlines 1.4%
Alaska Air Group, Inc.*		179,332		8,272,585
Total Airlines				8,272,585
Auto Components 1.0%
Gentex Corp.		302,754		5,791,684
Total Auto Components				5,791,684
Automobiles 2.0%
Thor Industries, Inc.		274,797		11,563,458
Total Automobiles				11,563,458
Biotechnology 4.4%
Regeneron Pharmaceuticals, Inc.*		52,868		9,195,860
United Therapeutics Corp.*		151,706		8,175,436
Vertex Pharmaceuticals, Inc.*		176,002		7,881,370
Total Biotechnology				25,252,666
Building Products 1.8%
Fortune Brands Home & Security, Inc.*		154,163		5,047,297
Lennox International, Inc.		92,226		5,303,917
Total Building Products				10,351,214
Capital Markets 3.4%
Affiliated Managers Group, Inc.*		40,381		5,812,037
Eaton Vance Corp.		93,352		3,379,342
Jefferies Group, Inc.		348,915		6,953,876
Waddell & Reed Financial, Inc.—Class A		93,434		3,709,330
Total Capital Markets				19,854,585
Chemicals 2.0%
NewMarket Corp.		17,573		4,483,926
Valspar Corp.		109,485		7,256,666
Total Chemicals				11,740,592
Commercial Banks 6.8%
Cathay General Bancorp		470,457		9,131,570
City National Corp.		176,195		9,331,287
Signature Bank*		62,101		4,591,127
SVB Financial Group*		129,387		8,587,415
Synovus Financial Corp.(a)		2,938,989		7,582,592
Total Commercial Banks				39,223,991
Commercial Services & Supplies 2.5%
Clean Harbors, Inc.*		54,792		3,045,887
Copart, Inc.*		175,281		6,294,341
Corrections Corp. of America		133,731		5,067,068
Total Commercial Services & Supplies				14,407,296
Communications Equipment 1.9%
Ciena Corp.*		410,382		6,426,582
InterDigital, Inc.(a)		108,537		4,709,420
Total Communications Equipment				11,136,002
Construction & Engineering 1.0%
Shaw Group, Inc.(The)*		121,572		5,752,787
Total Construction & Engineering				5,752,787

	Shares		Value
Containers & Packaging 0.5%
Packaging Corp. of America		72,309	$	2,778,835
Total Containers & Packaging				2,778,835
Distributors 1.6%
LKQ Corp.*		407,722		9,128,896
Total Distributors				9,128,896
Diversified Consumer Services 0.7%
Service Corp. International		260,504		3,889,325
Total Diversified Consumer Services				3,889,325
Diversified Telecommunication Services 0.8%
tw telecom, Inc.*		157,412		4,349,294
Total Diversified Telecommunication Services				4,349,294
Electrical Equipment 0.7%
AMETEK, Inc.		92,293		3,783,090
Total Electrical Equipment				3,783,090
Electronic Equipment, Instruments & Components 1.6%
Itron, Inc.*		95,240		4,418,184
Trimble Navigation, Ltd.*		81,454		5,090,875
Total Electronic Equipment, Instruments & Components				9,509,059
Food Products 1.4%
Ingredion, Inc.		121,060		7,998,434
Total Food Products				7,998,434
Health Care Equipment & Supplies 2.4%
Cooper Cos., Inc.(The)		39,995		4,053,493
ResMed, Inc.(a)		153,189		6,709,678
Thoratec Corp.*		93,056		3,399,336
Total Health Care Equipment & Supplies				14,162,507
Hotels, Restaurants & Leisure 1.1%
Bob Evans Farms, Inc.		142,853		6,324,102
Total Hotels, Restaurants & Leisure				6,324,102
Household Durables 2.8%
Jarden Corp.*		131,830		7,756,877
MDC Holdings, Inc.		122,170		4,803,725
Toll Brothers, Inc.*		105,067		3,934,759
Total Household Durables				16,495,361
Insurance 1.9%
First American Financial Corp.		455,947		10,892,574
Total Insurance				10,892,574
Internet & Catalog Retail 0.6%
HSN, Inc.		58,289		3,474,024
Total Internet & Catalog Retail				3,474,024
Internet Software & Services 4.5%
Equinix, Inc.*		40,800		8,789,544
Rackspace Hosting, Inc.*		133,031		10,023,886
ValueClick, Inc.*		356,817		7,304,044
Total Internet Software & Services				26,117,474
IT Services 5.2%
Alliance Data Systems Corp.*		50,574		7,970,462
CoreLogic, Inc.*		336,679		8,834,457
NeuStar, Inc. - Class A*		143,302		6,468,652
WEX, Inc.*		86,786		6,822,248
Total IT Services				30,095,819

GUGGENHEIM S&P MIDCAP 400^® PURE GROWTH ETF

SCHEDULE OF INVESTMENTS (Unaudited) (concluded) January 31, 2013

	Shares		Value
Leisure Equipment & Products 1.2%
Polaris Industries, Inc.		82,474	$	7,182,661
Total Leisure Equipment & Products				7,182,661
Life Sciences Tools & Services 0.5%
Charles River Laboratories International, Inc.*		71,280		2,945,290
Total Life Sciences Tools & Services				2,945,290
Machinery 7.6%
Graco, Inc.		60,107		3,438,121
Lincoln Electric Holdings, Inc.		101,059		5,450,112
Nordson Corp.		94,594		6,396,446
Terex Corp.*		372,024		12,046,137
Timken Co.		112,787		6,046,511
Valmont Industries, Inc.		47,755		6,958,859
Wabtec Corp.		37,173		3,480,136
Total Machinery				43,816,322
Media 2.4%
AMC Networks, Inc. - Class A*		72,249		4,116,026
Cinemark Holdings, Inc.		225,366		6,341,799
Lamar Advertising Co. - Class A*		87,367		3,725,329
Total Media				14,183,154
Metals & Mining 2.5%
Royal Gold, Inc.		36,641		2,735,984
Worthington Industries, Inc.		426,744		11,726,925
Total Metals & Mining				14,462,909
Oil, Gas & Consumable Fuels 3.6%
HollyFrontier Corp.		260,950		13,626,809
Northern Oil and Gas, Inc.*(a)		449,415		7,433,324
Total Oil, Gas & Consumable Fuels				21,060,133
Paper & Forest Products 0.9%
Louisiana-Pacific Corp.*		253,392		4,923,407
Total Paper & Forest Products				4,923,407
Real Estate Investment Trusts (REITs) 0.6%
Extra Space Storage, Inc.		79,763		3,177,758
Total Real Estate Investment Trusts (REITs)				3,177,758
Real Estate Management & Development 0.8%
Jones Lang LaSalle, Inc.		47,107		4,340,439
Total Real Estate Management & Development				4,340,439
Road & Rail 0.9%
JB Hunt Transport Services, Inc.		78,056		5,250,827
Total Road & Rail				5,250,827
Semiconductors & Semiconductor Equipment 4.7%
Atmel Corp.*		433,653		2,905,475
Cree, Inc.*		97,338		4,200,135
Semtech Corp.*		437,432		13,192,949
Skyworks Solutions, Inc.*		290,694		6,959,214
Total Semiconductors & Semiconductor Equipment				27,257,773
Software 3.7%
ACI Worldwide, Inc.*		87,458		4,157,753
Cadence Design Systems, Inc.*		199,948		2,785,276
Concur Technologies, Inc.*		61,486		4,113,414
Mentor Graphics Corp.*		326,601		5,594,675
Solarwinds, Inc.*		88,934		4,839,788
Total Software				21,490,906

	Shares		Value
Specialty Retail 10.0%
American Eagle Outfitters, Inc.		178,582	$	3,609,142
ANN, Inc.*		151,127		4,660,757
Ascena Retail Group, Inc.*		463,630		7,858,528
Cabela’s, Inc.*		78,943		4,075,038
Chico’s FAS, Inc.		837,463		15,015,711
Dick’s Sporting Goods, Inc.		91,459		4,352,534
Foot Locker, Inc.		182,436		6,266,677
Tractor Supply Co.		30,426		3,154,263
Williams-Sonoma, Inc.		204,267		8,987,748
Total Specialty Retail				57,980,398
Textiles, Apparel & Luxury Goods 4.5%
Carter’s, Inc.*		51,175		3,082,270
Hanesbrands, Inc.*		87,832		3,291,943
PVH Corp.		83,783		9,959,285
Under Armour, Inc. - Class A*		128,353		6,529,317
Warnaco Group, Inc.(The)*		46,193		3,381,790
Total Textiles, Apparel & Luxury Goods				26,244,605
Thrifts & Mortgage Finance 1.4%
Washington Federal, Inc.		476,833		8,387,492
Total Thrifts & Mortgage Finance				8,387,492
Total Common Stocks (Cost $504,318,381)				577,796,719
SHORT TERM INVESTMENTS 0.3%
SSgA Government Money Market Fund		1,538,608		1,538,608
Total Short Term Investments (Cost $1,538,608)				1,538,608
	Face Amount
SECURITIES LENDING COLLATERAL 0.3%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	586,826		586,826
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		586,826		586,826
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		835,500		835,500
Total Securities Lending Collateral (Cost $2,009,152)				2,009,152
Total Investments 100.4%(d) (Cost $507,866,141)				581,344,479
Other Assets and Liabilities, net – (0.4)%				(2,054,359	)
Net Assets – 100.0%			$	579,290,120

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs. (Note G)

2

GUGGENHEIM S&P SMALLCAP 600^® PURE VALUE ETF

SCHEDULE OF INVESTMENTS (Unaudited) January 31, 2013

	Shares		Value
COMMON STOCKS 99.9%
Aerospace & Defense 3.1%
AAR Corp.		68,879	$	1,298,369
Curtiss-Wright Corp.		9,441		336,572
Moog, Inc. - Class A*		8,001		350,444
Orbital Sciences Corp.*		32,085		471,649
Total Aerospace & Defense				2,457,034
Airlines 1.3%
SkyWest, Inc.		79,835		1,009,114
Total Airlines				1,009,114
Auto Components 1.4%
Spartan Motors, Inc.		116,402		659,999
Standard Motor Products, Inc.		19,798		459,512
Total Auto Components				1,119,511
Building Products 2.3%
Gibraltar Industries, Inc.*		28,961		503,053
Griffon Corp.		68,323		806,211
Universal Forest Products, Inc.		12,780		519,507
Total Building Products				1,828,771
Capital Markets 1.5%
Calamos Asset Management, Inc. - Class A		41,461		432,024
Prospect Capital Corp.		1		11
Stifel Financial Corp.*		7,054		259,940
SWS Group, Inc.*		75,580		498,072
Total Capital Markets				1,190,047
Chemicals 2.6%
A. Schulman, Inc.		16,524		531,246
OM Group, Inc.*		41,519		1,146,755
Zep, Inc.		30,360		443,256
Total Chemicals				2,121,257
Commercial Banks 1.3%
First BanCorp*		103,973		533,382
Old National Bancorp		14,717		196,619
Umpqua Holdings Corp.		26,696		337,437
Total Commercial Banks				1,067,438
Commercial Services & Supplies 3.6%
ABM Industries, Inc.		33,771		740,260
Consolidated Graphics, Inc.*		15,377		563,260
SYKES Enterprises, Inc.*		25,134		404,657
United Stationers, Inc.		19,520		650,797
Viad Corp.		18,524		517,190
Total Commercial Services & Supplies				2,876,164
Communications Equipment 1.0%
Bel Fuse, Inc. - Class B		22,579		420,647
Comtech Telecommunications Corp.		7,875		208,687
Digi International, Inc.*		18,882		185,044
Total Communications Equipment				814,378
Computers & Peripherals 0.9%
Super Micro Computer, Inc.*		57,984		717,842
Total Computers & Peripherals				717,842
Construction & Engineering 1.7%
Comfort Systems USA, Inc.		44,376		572,894
Dycom Industries, Inc.*		15,381		322,694

	Shares		Value
EMCOR Group, Inc.		12,991	$	471,963
Total Construction & Engineering				1,367,551
Consumer Finance 1.0%
Cash America International, Inc.		10,706		512,925
EZCORP, Inc. - Class A*		13,747		305,183
Total Consumer Finance				818,108
Distributors 2.1%
VOXX International Corp.*		171,073		1,652,565
Total Distributors				1,652,565
Diversified Consumer Services 3.1%
Career Education Corp.*		103,299		357,415
Corinthian Colleges, Inc.*(a)		454,544		1,118,178
ITT Educational Services, Inc.*(a)		27,528		463,572
Lincoln Educational Services Corp.		93,271		516,721
Total Diversified Consumer Services				2,455,886
Diversified Financial Services 0.4%
Interactive Brokers Group, Inc. - Class A		22,341		319,476
Total Diversified Financial Services				319,476
Diversified Telecommunication Services 0.4%
Cbeyond, Inc.*		34,616		304,621
Total Diversified Telecommunication Services				304,621
Electrical Equipment 0.2%
Powell Industries, Inc.*		4,363		197,426
Total Electrical Equipment				197,426
Electronic Equipment, Instruments & Components 8.2%
Anixter International, Inc.		7,468		502,447
Benchmark Electronics, Inc.*		48,432		850,466
CTS Corp.		42,623		424,099
Insight Enterprises, Inc.*		46,605		913,458
Mercury Systems, Inc.*		42,107		309,486
Methode Electronics, Inc.		37,259		358,431
Newport Corp.*		23,602		340,341
Plexus Corp.*		24,288		619,830
Radisys Corp.*		129,503		505,062
Scansource, Inc.*		25,454		739,693
SYNNEX Corp.*		27,284		980,860
Total Electronic Equipment, Instruments & Components				6,544,173
Energy Equipment & Services 3.8%
Basic Energy Services, Inc.*		68,220		882,085
ERA Group, Inc.*		9,399		191,646
Gulf Island Fabrication, Inc.		7,223		167,718
Matrix Service Co.*		46,529		664,434
Pioneer Energy Services Corp.*		85,123		645,232
SEACOR Holdings, Inc.		2,551		232,064
Tetra Technologies, Inc.*		32,952		280,092
Total Energy Equipment & Services				3,063,271
Food & Staples Retailing 3.2%
Andersons, Inc.(The)		17,121		807,255
Casey’s General Stores, Inc.		7,820		427,989
Nash Finch Co.		18,516		384,577
Spartan Stores, Inc.		55,947		908,579
Total Food & Staples Retailing				2,528,400

GUGGENHEIM S&P SMALLCAP 600^® PURE VALUE ETF

SCHEDULE OF INVESTMENTS (Unaudited) (continued) January 31, 2013

	Shares		Value
Food Products 1.0%
Seneca Foods Corp. - Class A*		27,908	$	837,519
Total Food Products				837,519
Health Care Equipment & Supplies 1.0%
Invacare Corp.		48,709		766,193
Total Health Care Equipment & Supplies				766,193
Health Care Providers & Services 7.4%
Almost Family, Inc.		29,977		600,139
Amedisys, Inc.*		94,352		1,049,194
Centene Corp.*		8,032		346,661
Cross Country Healthcare, Inc.*		72,662		410,540
Ensign Group, Inc.(The)		6,705		191,495
Gentiva Health Services, Inc.*		63,835		632,605
Kindred Healthcare, Inc.*		70,288		757,705
LHC Group, Inc.*		17,469		373,138
Magellan Health Services, Inc.*		8,338		427,739
Molina Healthcare, Inc.*		12,153		348,913
PharMerica Corp.*		55,993		810,779
Total Health Care Providers & Services				5,948,908
Hotels, Restaurants & Leisure 3.3%
Biglari Holdings, Inc.*		608		224,279
Boyd Gaming Corp.*(a)		145,223		1,018,013
Marcus Corp.		26,930		358,169
Monarch Casino & Resort, Inc.*		20,872		216,234
Red Robin Gourmet Burgers, Inc.*		7,908		292,359
Ruby Tuesday, Inc.*		75,723		570,194
Total Hotels, Restaurants & Leisure				2,679,248
Household Durables 1.9%
American Greetings Corp. - Class A		38,176		610,816
Blyth, Inc.(a)		30,988		434,142
Universal Electronics, Inc.*		23,842		455,382
Total Household Durables				1,500,340
Household Products 0.7%
Central Garden & Pet Co. - Class A*		55,584		534,718
Total Household Products				534,718
Insurance 7.2%
Horace Mann Educators Corp.		32,509		706,746
Infinity Property & Casualty Corp.		8,435		501,630
Meadowbrook Insurance Group, Inc.		136,682		856,996
Navigators Group, Inc.(The)*		7,637		414,155
Safety Insurance Group, Inc.		6,533		313,649
Selective Insurance Group, Inc.		22,583		463,177
Stewart Information Services Corp.		31,028		824,104
Tower Group, Inc.		51,404		992,097
United Fire Group, Inc.		31,480		730,021
Total Insurance				5,802,575
Internet Software & Services 1.4%
Digital River, Inc.*		20,780		301,725
QuinStreet, Inc.*		61,292		345,687
United Online, Inc.		71,367		473,877
Total Internet Software & Services				1,121,289
IT Services 2.1%
CACI International, Inc. - Class A*		13,315		714,084
CIBER, Inc.*		296,659		1,002,707
Total IT Services				1,716,791

	Shares		Value
Leisure Equipment & Products 0.6%
Jakks Pacific, Inc.(a)		37,032	$	483,638
Total Leisure Equipment & Products				483,638
Life Sciences Tools & Services 0.3%
Affymetrix, Inc.*		53,102		201,257
Total Life Sciences Tools & Services				201,257
Machinery 0.7%
Astec Industries, Inc.		9,081		320,741
Briggs & Stratton Corp.(a)		9,074		215,326
Total Machinery				536,067
Media 1.0%
E.W. Scripps Co. - Class A*		25,555		280,850
Live Nation Entertainment, Inc.*		52,508		538,732
Total Media				819,582
Metals & Mining 4.2%
A.M. Castle & Co.*(a)		45,761		771,073
Century Aluminum Co.*		44,032		379,116
Kaiser Aluminum Corp.		3,964		246,402
Materion Corp.		33,148		891,681
Olympic Steel, Inc.		51,848		1,089,326
Total Metals & Mining				3,377,598
Multi-Utilities 0.3%
Avista Corp.		9,474		244,998
Total Multi-Utilities				244,998
Multiline Retail 0.9%
Fred’s, Inc. - Class A(a)		56,630		748,649
Total Multiline Retail				748,649
Oil, Gas & Consumable Fuels 1.1%
Cloud Peak Energy, Inc.*		15,564		272,525
Stone Energy Corp.*		11,218		252,405
Swift Energy Co.*		26,138		393,900
Total Oil, Gas & Consumable Fuels				918,830
Paper & Forest Products 0.9%
Clearwater Paper Corp.*		6,159		279,064
PH Glatfelter Co.		24,834		461,416
Total Paper & Forest Products				740,480
Professional Services 4.9%
CDI Corp.		41,639		708,696
Dolan Co.(The)*		46,872		164,521
Heidrick & Struggles International, Inc.		30,262		478,442
Insperity, Inc.		8,515		286,359
Kelly Services, Inc. - Class A		74,274		1,183,928
Korn/Ferry International*		15,101		259,435
Navigant Consulting, Inc.*		36,264		418,124
TrueBlue, Inc.*		23,860		410,153
Total Professional Services				3,909,658
Road & Rail 1.3%
Arkansas Best Corp.		101,070		1,063,256
Total Road & Rail				1,063,256
Semiconductors & Semiconductor Equipment 2.2%
Brooks Automation, Inc.		66,418		621,673
Cohu, Inc.		19,219		201,415
GT Advanced Technologies, Inc.*(a)		155,531		491,478
Pericom Semiconductor Corp.*		31,130		220,089

2

GUGGENHEIM S&P SMALLCAP 600^® PURE VALUE ETF

SCHEDULE OF INVESTMENTS (Unaudited) (concluded) January 31, 2013

	Shares		Value
Rubicon Technology, Inc.*		27,914	$	187,582
Total Semiconductors & Semiconductor Equipment				1,722,237
Specialty Retail 7.8%
Big 5 Sporting Goods Corp.		30,433		422,106
Genesco, Inc.*		5,323		331,783
Group 1 Automotive, Inc.		10,299		697,654
Kirkland’s, Inc.*		53,307		616,762
MarineMax, Inc.*		65,655		766,850
Men’s Wearhouse, Inc. (The)		6,807		206,593
OfficeMax, Inc.		101,640		1,095,679
Pep Boys- Manny, Moe & Jack		74,642		830,766
Sonic Automotive, Inc. - Class A		27,468		666,648
Stein Mart, Inc.		74,262		626,771
Total Specialty Retail				6,261,612
Textiles, Apparel & Luxury Goods 2.2%
Perry Ellis International, Inc.		33,993		656,065
Quiksilver, Inc.*		162,925		1,065,529
Total Textiles, Apparel & Luxury Goods				1,721,594
Thrifts & Mortgage Finance 0.8%
Bank Mutual Corp.		71,488		366,733
Provident Financial Services, Inc.		16,959		251,502
Total Thrifts & Mortgage Finance				618,235
Tobacco 1.2%
Alliance One International, Inc.*		267,833		969,555
Total Tobacco				969,555
Wireless Telecommunication Services 0.4%
USA Mobility, Inc.		29,776		344,211
Total Wireless Telecommunication Services				344,211
Total Common Stocks (Cost $76,694,098)				80,042,071
SHORT TERM INVESTMENTS 0.1%
SSgA Government Money Market Fund		69,103		69,103
Total Short Term Investments (Cost $69,103)				69,103

	Face Amount
SECURITIES LENDING COLLATERAL 1.7%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	388,574	388,574
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		388,574	388,574
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		553,236	553,236
Total Securities Lending Collateral (Cost $1,330,384)			1,330,384

Total Investments 101.7%(d) (Cost $78,093,585)		81,441,558
Other Assets and Liabilities, net – (1.7)%		(1,376,820	)
Net Assets – 100.0%	$	80,064,738

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs. (Note G)

3

GUGGENHEIM S&P SMALLCAP 600^® PURE GROWTH ETF

SCHEDULE OF INVESTMENTS (Unaudited) January 31, 2013

	Shares		Value
COMMON STOCKS 99.4%
Airlines 0.6%
Allegiant Travel Co.		5,903	$	439,596
Total Airlines				439,596
Auto Components 1.9%
Dorman Products, Inc.		16,640		576,243
Drew Industries, Inc.		23,219		850,280
Total Auto Components				1,426,523
Automobiles 1.5%
Winnebago Industries, Inc.*		62,260		1,165,507
Total Automobiles				1,165,507
Biotechnology 1.5%
Acorda Therapeutics, Inc.*		15,096		435,973
ArQule, Inc.*		100,412		254,042
Spectrum Pharmaceuticals, Inc.(a)		38,395		484,161
Total Biotechnology				1,174,176
Building Products 0.4%
Quanex Building Products Corp.		15,441		319,011
Total Building Products				319,011
Capital Markets 2.4%
HFF, Inc. - Class A		66,545		1,160,545
Virtus Investment Partners, Inc.*		4,649		692,747
Total Capital Markets				1,853,292
Chemicals 2.5%
American Vanguard Corp.		17,978		609,454
H.B. Fuller Co.		9,607		375,442
PolyOne Corp.		27,635		603,548
Quaker Chemical Corp.		5,516		315,350
Total Chemicals				1,903,794
Commercial Banks 10.0%
Bank of the Ozarks, Inc.		10,796		392,111
BBCN Bancorp, Inc.		58,030		701,583
Boston Private Financial Holdings, Inc.		31,647		292,735
First Commonwealth Financial Corp.		114,261		807,825
FNB Corp.		44,880		520,159
Home BancShares, Inc.		19,997		694,296
National Penn Bancshares, Inc.		62,470		609,082
PacWest Bancorp		31,598		868,313
Pinnacle Financial Partners, Inc.*		31,681		680,191
PrivateBancorp, Inc.		54,081		928,571
Texas Capital Bancshares, Inc.*		18,679		773,310
Wilshire Bancorp, Inc.*		66,627		409,090
Total Commercial Banks				7,677,266
Commercial Services & Supplies 0.8%
Geo Group, Inc.(The)		11,148		363,648
Healthcare Services Group, Inc.		11,370		274,585
Total Commercial Services & Supplies				638,233
Communications Equipment 3.0%
Arris Group, Inc.*		12,193		201,428
Ixia*		48,269		916,628
Netgear, Inc.*		19,854		697,074
Procera Networks, Inc.*		28,660		482,348
Total Communications Equipment				2,297,478
Computers & Peripherals 2.7%
3D Systems Corp.*(a)		28,371		1,641,262

	Shares		Value
Electronics for Imaging, Inc.*		20,613	$	466,266
Total Computers & Peripherals				2,107,528
Construction Materials 1.0%
Eagle Materials, Inc.		4,050		262,318
Headwaters, Inc.*		29,322		274,454
Texas Industries, Inc.*		4,103		233,215
Total Construction Materials				769,987
Consumer Finance 1.9%
Encore Capital Group, Inc.*		15,227		458,180
First Cash Financial Services, Inc.*		8,166		435,329
Portfolio Recovery Associates, Inc.*		5,229		559,242
Total Consumer Finance				1,452,751
Distributors 0.4%
Pool Corp.		6,519		298,701
Total Distributors				298,701
Diversified Consumer Services 0.8%
American Public Education, Inc.*(a)		5,389		207,638
Coinstar, Inc.*(a)		8,015		407,803
Total Diversified Consumer Services				615,441
Diversified Financial Services 0.5%
MarketAxess Holdings, Inc.		9,202		347,928
Total Diversified Financial Services				347,928
Electrical Equipment 0.9%
AZZ, Inc.		10,833		463,544
Franklin Electric Co., Inc.		3,167		210,669
Total Electrical Equipment				674,213
Electronic Equipment, Instruments & Components 3.2%
Cognex Corp.		20,030		794,390
FEI Co.		7,013		427,512
Littelfuse, Inc.		7,478		478,667
Measurement Specialties, Inc.*		21,523		759,762
Total Electronic Equipment, Instruments & Components				2,460,331
Energy Equipment & Services 1.6%
Geospace Technologies Corp.*		13,835		1,247,364
Total Energy Equipment & Services				1,247,364
Food Products 1.5%
Darling International, Inc.*		42,192		711,779
Hain Celestial Group, Inc.(The)*		7,594		432,782
Total Food Products				1,144,561
Health Care Equipment & Supplies 3.3%
Abaxis, Inc.		8,032		310,999
Analogic Corp.		6,219		473,826
Cantel Medical Corp.		13,508		424,286
Cyberonics, Inc.*		8,772		380,354
Greatbatch, Inc.*		18,417		488,787
ICU Medical, Inc.*		4,404		266,222
Neogen Corp.*		3,817		177,452
Total Health Care Equipment & Supplies				2,521,926
Health Care Providers & Services 3.0%
Air Methods Corp.		8,148		356,231
Bio-Reference Labs, Inc.*(a)		23,742		659,315
Hanger, Inc.*		12,485		358,694
Landauer, Inc.		3,090		194,639

GUGGENHEIM S&P SMALLCAP 600^® PURE GROWTH ETF

SCHEDULE OF INVESTMENTS (Unaudited) (continued) January 31, 2013

	Shares		Value
MWI Veterinary Supply, Inc.*		6,444	$	723,726
Total Health Care Providers & Services				2,292,605
Health Care Technology 0.4%
HealthStream, Inc.*		13,559		335,992
Total Health Care Technology				335,992
Hotels, Restaurants & Leisure 1.7%
Buffalo Wild Wings, Inc.*		3,698		271,988
Multimedia Games Holding Co., Inc.*		31,912		540,589
Papa John’s International, Inc.*		4,530		254,133
SHFL Entertainment, Inc.*		17,983		266,149
Total Hotels, Restaurants & Leisure				1,332,859
Household Durables 1.6%
Ethan Allen Interiors, Inc.		9,470		273,778
iRobot Corp.*		14,776		338,075
M/I Homes, Inc.*		13,588		370,137
Meritage Homes Corp.*		4,834		213,856
Total Household Durables				1,195,846
Industrial Conglomerates 1.3%
Standex International Corp.		17,362		983,557
Total Industrial Conglomerates				983,557
Insurance 0.5%
eHealth, Inc.*		16,198		394,745
Total Insurance				394,745
Internet Software & Services 8.4%
Blucora, Inc.*		82,928		1,232,310
Dealertrack Technologies, Inc.*		24,568		775,857
Dice Holdings, Inc.*		86,726		816,092
Liquidity Services, Inc.*		14,309		456,028
LivePerson, Inc.*		18,647		249,310
NIC, Inc.		14,925		243,278
OpenTable, Inc.*(a)		14,062		740,927
Perficient, Inc.*		74,726		893,723
Stamps.com, Inc.*		10,985		296,485
XO Group, Inc.*		81,613		785,117
Total Internet Software & Services				6,489,127
IT Services 1.4%
ExlService Holdings, Inc.*		12,915		383,059
iGate Corp.*		13,799		241,206
MAXIMUS, Inc.		6,537		448,242
Total IT Services				1,072,507
Leisure Equipment & Products 2.1%
Arctic Cat, Inc.*		20,304		733,786
Brunswick Corp.		7,987		288,810
Sturm Ruger & Co., Inc.(a)		12,100		614,317
Total Leisure Equipment & Products				1,636,913
Life Sciences Tools & Services 1.9%
Cambrex Corp.*		30,641		360,032
Luminex Corp.*		36,784		676,090
PAREXEL International Corp.*		13,065		442,250
Total Life Sciences Tools & Services				1,478,372
Machinery 2.3%
Lindsay Corp.		6,154		572,568
Lydall, Inc.*		42,198		644,786
Toro Co.(The)		12,365		544,431
Total Machinery				1,761,785

	Shares		Value
Metals & Mining 1.0%
Globe Specialty Metals, Inc.		13,011	$	197,247
SunCoke Energy, Inc.*		34,826		577,415
Total Metals & Mining				774,662
Multiline Retail 1.5%
Tuesday Morning Corp.*		140,403		1,179,385
Total Multiline Retail				1,179,385
Oil, Gas & Consumable Fuels 0.6%
Gulfport Energy Corp.*		11,404		470,643
Total Oil, Gas & Consumable Fuels				470,643
Paper & Forest Products 0.6%
Deltic Timber Corp.		6,214		450,888
Total Paper & Forest Products				450,888
Personal Products 2.1%
Inter Parfums, Inc.		12,290		266,816
Medifast, Inc.*		23,522		576,994
Prestige Brands Holdings, Inc.*		37,155		796,975
Total Personal Products				1,640,785
Pharmaceuticals 3.1%
Akorn, Inc.*		50,484		660,836
Medicines Co.(The)*		23,650		706,662
Questcor Pharmaceuticals, Inc.(a)		6,616		168,576
Salix Pharmaceuticals Ltd.*		6,848		328,019
ViroPharma, Inc.*		19,140		510,272
Total Pharmaceuticals				2,374,365
Professional Services 1.5%
On Assignment, Inc.*		46,526		1,137,561
Total Professional Services				1,137,561
Real Estate Investment Trusts (REITs) 2.0%
Sabra Health Care REIT, Inc.		45,414		1,139,437
Universal Health Realty Income Trust		6,735		371,301
Total Real Estate Investment Trusts (REITs)				1,510,738
Road & Rail 0.6%
Old Dominion Freight Line, Inc.*		12,892		480,614
Total Road & Rail				480,614
Semiconductors & Semiconductor Equipment 9.7%
Advanced Energy Industries, Inc.*		44,604		684,671
Cirrus Logic, Inc.*		45,683		1,289,631
Cymer, Inc.*		9,439		971,934
Entropic Communications, Inc.*		106,703		559,124
Kulicke & Soffa Industries, Inc.*		70,491		797,958
Microsemi Corp.*		13,936		291,541
Monolithic Power Systems, Inc.		17,720		412,876
Nanometrics, Inc.*		18,267		285,148
Rudolph Technologies, Inc.*		56,932		768,013
Ultratech, Inc.*		26,065		1,061,627
Veeco Instruments, Inc.*(a)		11,064		347,963
Total Semiconductors & Semiconductor Equipment				7,470,486
Software 4.1%
CommVault Systems, Inc.*		6,312		484,320
Interactive Intelligence Group, Inc.*		11,541		464,179
Manhattan Associates, Inc.*		6,133		420,172
Netscout Systems, Inc.*		8,347		217,272
Sourcefire, Inc.*		13,504		575,270
Tyler Technologies, Inc.*		6,951		375,702
VASCO Data Security International, Inc.*		35,018		283,646

2

GUGGENHEIM S&P SMALLCAP 600^® PURE GROWTH ETF

SCHEDULE OF INVESTMENTS (Unaudited) (concluded) January 31, 2013

	Shares		Value
Websense, Inc.*		24,676	$	361,010
Total Software				3,181,571
Specialty Retail 1.8%
Lumber Liquidators Holdings, Inc.*		9,051		535,638
Rue21, Inc.*		7,957		236,403
Select Comfort Corp.*		14,982		329,904
Vitamin Shoppe, Inc.*		5,192		317,127
Total Specialty Retail				1,419,072
Textiles, Apparel & Luxury Goods 1.7%
Movado Group, Inc.		15,532		567,850
Oxford Industries, Inc.		4,939		243,888
Steven Madden Ltd.*		11,216		516,833
Total Textiles, Apparel & Luxury Goods				1,328,571
Thrifts & Mortgage Finance 2.1%
Oritani Financial Corp.		56,829		860,391
ViewPoint Financial Group, Inc.		35,200		744,480
Total Thrifts & Mortgage Finance				1,604,871
Total Common Stocks (Cost $67,273,777)				76,534,127
SHORT TERM INVESTMENTS 0.6%
SSgA Government Money Market Fund		461,698		461,698
Total Short Term Investments (Cost $461,698)				461,698
	Face Amount
SECURITIES LENDING COLLATERAL 2.9%(b)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	651,753		651,753
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		651,753		651,753
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		927,939		927,939
Total Securities Lending Collateral (Cost $2,231,445)				2,231,445
Total Investments 102.9%(d) (Cost $69,966,920)				79,227,270
Other Assets and Liabilities, net – (2.9)%				(2,222,795	)
Net Assets – 100.0%			$	77,004,475

* Non-Income Producing Security.

(a) All or a portion of this security was on loan as of January 31, 2013.

(b) Securities lending collateral (Note H).

(c) Values determined based on Level 2 inputs (Note G).

(d) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

3

GUGGENHEIM 2X S&P 500® ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Shares		Value
COMMON STOCKS 80.8%
Aerospace & Defense 1.9%
Boeing Co.(The)		2,102	$	155,275
General Dynamics Corp.		1,028		68,156
Honeywell International, Inc.		2,426		165,550
L-3 Communications Holdings, Inc.		291		22,093
Lockheed Martin Corp.		832		72,276
Northrop Grumman Corp.		761		49,495
Precision Castparts Corp.		452		82,897
Raytheon Co.		1,023		53,892
Rockwell Collins, Inc.		433		25,495
Textron, Inc.		874		25,136
United Technologies Corp.		2,611		228,645
Total Aerospace & Defense				948,910
Air Freight & Logistics 0.6%
C.H. Robinson Worldwide, Inc.		500		33,075
Expeditors International of Washington, Inc.		648		27,799
FedEx Corp.		905		91,812
United Parcel Service, Inc. - Class B		2,217		175,786
Total Air Freight & Logistics				328,472
Airlines 0.1%
Southwest Airlines Co.		2,286		25,626
Total Airlines				25,626
Auto Components 0.3%
BorgWarner, Inc.*		362		26,853
Delphi Automotive PLC*		914		35,335
Goodyear Tire & Rubber Co.(The)*		759		10,444
Johnson Controls, Inc.		2,118		65,849
Total Auto Components				138,481
Automobiles 0.4%
Ford Motor Co.		11,810		152,940
Harley-Davidson, Inc.		701		36,746
Total Automobiles				189,686
Beverages 1.9%
Beam, Inc.		492		30,179
Brown-Forman Corp. - Class B		470		30,409
Coca-Cola Co.(The)		11,947		444,907
Coca-Cola Enterprises, Inc.		837		29,186
Constellation Brands, Inc. - Class A*		470		15,209
Dr Pepper Snapple Group, Inc.		645		29,070
Molson Coors Brewing Co. - Class B		483		21,822
Monster Beverage Corp.*		462		22,130
PepsiCo, Inc.		4,792		349,097
Total Beverages				972,009
Biotechnology 1.3%
Alexion Pharmaceuticals, Inc.*		601		56,488
Amgen, Inc.		2,377		203,138
Biogen Idec, Inc.*		732		114,251
Celgene Corp.*		1,310		129,638
Gilead Sciences, Inc.*		4,696		185,257
Total Biotechnology				688,772
Building Products 0.0%(a)
Masco Corp.		1,106		20,339
Total Building Products				20,339
Capital Markets 1.7%
Ameriprise Financial, Inc.		637		42,246

	Shares		Value
Bank of New York Mellon Corp.(The)		3,619	$	98,292
BlackRock, Inc.		389		91,913
Charles Schwab Corp.(The)		3,397		56,152
E*Trade Financial Corp.*		798		8,467
Franklin Resources, Inc.		428		58,585
Goldman Sachs Group, Inc.(The)		1,369		202,420
Invesco Ltd.		1,375		37,469
Legg Mason, Inc.		363		10,037
Morgan Stanley		4,282		97,844
Northern Trust Corp.		675		34,742
State Street Corp.		1,440		80,136
T. Rowe Price Group, Inc.		789		56,374
Total Capital Markets				874,677
Chemicals 2.0%
Air Products & Chemicals, Inc.		659		57,616
Airgas, Inc.		217		20,667
CF Industries Holdings, Inc.		194		44,459
Dow Chemical Co.(The)		3,714		119,591
Du Pont (E.I.) de Nemours & Co.		2,888		137,036
Eastman Chemical Co.		475		33,796
Ecolab, Inc.		817		59,151
FMC Corp.		426		26,186
International Flavors & Fragrances, Inc.		252		17,748
LyondellBasell Industries NV - Class A		1,176		74,582
Monsanto Co.		1,656		167,836
Mosaic Co.(The)		856		52,430
PPG Industries, Inc.		475		65,488
Praxair, Inc.		920		101,541
Sherwin-Williams Co.(The)		266		43,129
Sigma-Aldrich Corp.		373		28,844
Total Chemicals				1,050,100
Commercial Banks 2.2%
BB&T Corp.		2,166		65,587
Comerica, Inc.		590		20,272
Fifth Third Bancorp		2,780		45,286
First Horizon National Corp.		765		7,811
Huntington Bancshares, Inc.		2,650		18,444
KeyCorp		2,892		27,185
M&T Bank Corp.		378		38,817
PNC Financial Services Group, Inc.		1,638		101,228
Regions Financial Corp.		4,376		34,045
SunTrust Banks, Inc.		1,668		47,321
US Bancorp		5,825		192,808
Wells Fargo & Co.		15,165		528,197
Zions Bancorp		570		13,292
Total Commercial Banks				1,140,293
Commercial Services & Supplies 0.5%
ADT Corp.(The)		720		34,200
Avery Dennison Corp.		308		11,861
Cintas Corp.		329		13,904
Iron Mountain, Inc.		517		17,687
Pitney Bowes, Inc.		621		8,949
Republic Services, Inc.		927		29,562
Stericycle, Inc.*		267		25,191
Tyco International Ltd.		1,443		43,622
Waste Management, Inc.		1,351		49,149
Total Commercial Services & Supplies				234,125
Communications Equipment 1.6%
Cisco Systems, Inc.		16,445		338,274
F5 Networks, Inc.*		245		25,696
Harris Corp.		352		16,262
JDS Uniphase Corp.*		725		10,520

GUGGENHEIM 2X S&P 500® ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Juniper Networks, Inc.*		1,596	$	35,718
Motorola Solutions, Inc.		869		50,741
QUALCOMM, Inc.		5,277		348,440
Total Communications Equipment				825,651
Computers & Peripherals 3.5%
Apple, Inc.		2,914		1,326,773
Dell, Inc.		4,521		59,858
EMC Corp.*		6,526		160,605
Hewlett-Packard Co.		6,089		100,529
NetApp, Inc.*		1,110		39,960
SanDisk Corp.*		748		37,393
Seagate Technology PLC		1,040		35,339
Western Digital Corp.		679		31,913
Total Computers & Peripherals				1,792,370
Construction & Engineering 0.1%
Fluor Corp.		516		33,452
Jacobs Engineering Group, Inc.*		403		19,389
Quanta Services, Inc.*		660		19,120
Total Construction & Engineering				71,961
Construction Materials 0.0%(a)
Vulcan Materials Co.		401		22,681
Total Construction Materials				22,681
Consumer Finance 0.7%
American Express Co.		3,015		177,312
Capital One Financial Corp.		1,801		101,432
Discover Financial Services		1,563		60,004
SLM Corp.		1,431		24,170
Total Consumer Finance				362,918
Containers & Packaging 0.1%
Ball Corp.		476		21,192
Bemis Co., Inc.		321		11,453
Owens-Illinois, Inc.*		509		12,114
Sealed Air Corp.		602		11,269
Total Containers & Packaging				56,028
Distributors 0.1%
Genuine Parts Co.		481		32,722
Total Distributors				32,722
Diversified Consumer Services 0.1%
Apollo Group, Inc. - Class A*		310		6,268
H&R Block, Inc.		840		19,127
Total Diversified Consumer Services				25,395
Diversified Financial Services 2.9%
Bank of America Corp.		33,384		377,907
Citigroup, Inc.		9,084		382,981
CME Group, Inc.		949		54,890
IntercontinentalExchange, Inc.*		226		31,357
JPMorgan Chase & Co.		11,775		554,014
Leucadia National Corp.		614		15,626
Moody’s Corp.		600		32,892
NASDAQ OMX Group, Inc.(The)		362		10,252
NYSE Euronext		752		25,997
Total Diversified Financial Services				1,485,916
Diversified Telecommunication Services 2.2%
AT&T, Inc.		17,594		612,095
CenturyLink, Inc.		1,934		78,230
Frontier Communications Corp.		3,092		14,131
Verizon Communications, Inc.		8,840		385,513

	Shares		Value
Windstream Corp.(b)		1,822	$	17,746
Total Diversified Telecommunication Services				1,107,715
Electric Utilities 1.6%
American Electric Power Co., Inc.		1,502		68,026
Duke Energy Corp.		2,182		149,991
Edison International		1,009		48,624
Entergy Corp.		550		35,530
Exelon Corp.		2,645		83,159
FirstEnergy Corp.		1,296		52,475
NextEra Energy, Inc.		1,311		94,457
Northeast Utilities		972		39,589
Pepco Holdings, Inc.		710		13,859
Pinnacle West Capital Corp.		341		18,203
PPL Corp.		1,801		54,552
Southern Co.(The)		2,708		119,775
Xcel Energy, Inc.		1,510		41,948
Total Electric Utilities				820,188
Electrical Equipment 0.6%
Eaton Corp. PLC		1,430		81,438
Emerson Electric Co.		2,243		128,412
Rockwell Automation, Inc.		432		38,530
Roper Industries, Inc.		304		35,705
Total Electrical Equipment				284,085
Electronic Equipment, Instruments & Components 0.3%
Amphenol Corp. - Class A		497		33,582
Corning, Inc.		4,577		54,924
FLIR Systems, Inc.		465		11,053
Jabil Circuit, Inc.		580		10,968
Molex, Inc.		428		11,624
TE Connectivity Ltd.		1,309		50,894
Total Electronic Equipment, Instruments & Components				173,045
Energy Equipment & Services 1.6%
Baker Hughes, Inc.		1,362		60,909
Cameron International Corp.*		765		48,432
Diamond Offshore Drilling, Inc.		215		16,144
Ensco PLC - Class A		720		45,771
FMC Technologies, Inc.*		736		34,850
Halliburton Co.		2,875		116,955
Helmerich & Payne, Inc.		327		21,039
Nabors Industries Ltd.*		899		14,986
National Oilwell Varco, Inc.		1,322		98,013
Noble Corp.		782		31,671
Rowan Cos., PLC - Class A*		384		13,240
Schlumberger Ltd.		4,113		321,020
Total Energy Equipment & Services				823,030
Food & Staples Retailing 1.9%
Costco Wholesale Corp.		1,339		137,033
CVS Caremark Corp.		3,861		197,683
Kroger Co.(The)		1,592		44,098
Safeway, Inc.(b)		743		14,303
Sysco Corp.		1,820		57,821
Wal-Mart Stores, Inc.		5,181		362,411
Walgreen Co.		2,662		106,374
Whole Foods Market, Inc.		534		51,398
Total Food & Staples Retailing				971,121
Food Products 1.4%
Archer-Daniels-Midland Co.		2,039		58,173
Campbell Soup Co.		555		20,374
ConAgra Foods, Inc.		1,261		41,222

2

GUGGENHEIM 2X S&P 500® ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Dean Foods Co.*		574	$	10,510
General Mills, Inc.		1,998		83,796
H.J. Heinz Co.		993		60,206
Hershey Co.(The)		464		36,865
Hormel Foods Corp.		414		14,328
J.M. Smucker Co.(The)		336		29,780
Kellogg Co.		765		44,752
Kraft Foods Group, Inc.		1,834		84,767
McCormick & Co., Inc.		411		25,626
Mead Johnson Nutrition Co.		629		47,804
Mondelez International, Inc. - Class A		5,504		152,956
Tyson Foods, Inc. - Class A		890		19,687
Total Food Products				730,846
Gas Utilities 0.1%
AGL Resources, Inc.		364		15,215
Oneok, Inc.		635		29,852
Total Gas Utilities				45,067
Health Care Equipment & Supplies 1.8%
Abbott Laboratories		4,896		165,876
Baxter International, Inc.		1,702		115,464
Becton, Dickinson and Co.		610		51,264
Boston Scientific Corp.*		4,253		31,770
C.R. Bard, Inc.		237		24,191
CareFusion Corp.*		688		21,355
Covidien PLC		1,466		91,390
DENTSPLY International, Inc.		439		18,333
Edwards Lifesciences Corp.*		358		32,195
Intuitive Surgical, Inc.*		123		70,649
Medtronic, Inc.		3,133		145,998
St Jude Medical, Inc.		954		38,828
Stryker Corp.		894		56,009
Varian Medical Systems, Inc.*		340		24,021
Zimmer Holdings, Inc.		538		40,135
Total Health Care Equipment & Supplies				927,478
Health Care Providers & Services 1.5%
Aetna, Inc.		1,037		50,015
AmerisourceBergen Corp.		729		33,075
Cardinal Health, Inc.		1,053		46,132
CIGNA Corp.		886		51,689
Coventry Health Care, Inc.		416		19,065
DaVita, Inc.*		260		30,007
Express Scripts Holding Co.*		2,529		135,099
Humana, Inc.		489		36,362
Laboratory Corp. of America Holdings*		293		26,223
McKesson Corp.		731		76,923
Patterson Cos., Inc.		259		9,358
Quest Diagnostics, Inc.		492		28,511
Tenet Healthcare Corp.*		330		12,814
UnitedHealth Group, Inc.		3,164		174,684
WellPoint, Inc.		941		60,996
Total Health Care Providers & Services				790,953
Health Care Technology 0.1%
Cerner Corp.*		451		37,230
Total Health Care Technology				37,230
Hotels, Restaurants & Leisure 1.5%
Carnival Corp.		1,381		53,472
Chipotle Mexican Grill, Inc.*		98		30,087
Darden Restaurants, Inc.		398		18,507
International Game Technology		824		12,665
Marriott International, Inc. - Class A		763		30,505
McDonald’s Corp.		3,109		296,257

	Shares		Value
Starbucks Corp.		2,303	$	129,244
Starwood Hotels & Resorts Worldwide, Inc.		607		37,276
Wyndham Worldwide Corp.		434		24,213
Wynn Resorts Ltd.		247		30,929
Yum! Brands, Inc.		1,399		90,851
Total Hotels, Restaurants & Leisure				754,006
Household Durables 0.3%
DR Horton, Inc.		865		20,466
Garmin Ltd.		339		12,845
Harman International Industries, Inc.		211		9,449
Leggett & Platt, Inc.		437		12,865
Lennar Corp. - Class A		508		21,102
Newell Rubbermaid, Inc.		892		20,944
PulteGroup, Inc.*		1,053		21,839
Whirlpool Corp.		241		27,807
Total Household Durables				147,317
Household Products 1.8%
Clorox Co.(The)		404		31,677
Colgate-Palmolive Co.		1,375		147,634
Kimberly-Clark Corp.		1,212		108,486
Procter & Gamble Co.(The)		8,469		636,530
Total Household Products				924,327
Independent Power Producers & Energy Traders 0.1%
AES Corp.(The)		1,912		20,726
NRG Energy, Inc.		999		23,976
Total Independent Power Producers & Energy Traders				44,702
Industrial Conglomerates 2.0%
3M Co.		1,972		198,285
Danaher Corp.		1,802		107,994
General Electric Co.		32,480		723,654
Total Industrial Conglomerates				1,029,933
Insurance 3.3%
ACE Ltd.		1,053		89,852
AFLAC, Inc.		1,452		77,043
Allstate Corp.(The)		1,492		65,499
American International Group, Inc.*		4,573		172,997
Aon PLC		986		56,932
Assurant, Inc.		244		9,330
Berkshire Hathaway, Inc. - Class B*		5,649		547,558
Chubb Corp.(The)		811		65,131
Cincinnati Financial Corp.		453		19,225
Genworth Financial, Inc. - Class A*		1,523		13,966
Hartford Financial Services Group, Inc.		1,352		33,530
Lincoln National Corp.		852		24,691
Loews Corp.		964		41,809
Marsh & McLennan Cos., Inc.		1,685		59,784
MetLife, Inc.		3,380		126,209
Principal Financial Group, Inc.		856		26,544
Progressive Corp.(The)		1,722		38,728
Prudential Financial, Inc.		1,437		83,173
Torchmark Corp.		294		16,379
Travelers Cos., Inc.(The)		1,182		92,740
Unum Group		853		19,883
XL Group PLC		930		25,780
Total Insurance				1,706,783
Internet & Catalog Retail 0.9%
Amazon.com, Inc.*		1,122		297,891
Expedia, Inc.		288		18,792

3

GUGGENHEIM 2X S&P 500® ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Netflix, Inc.*		173	$	28,587
priceline.com, Inc.*		155		106,248
TripAdvisor, Inc.*		340		15,735
Total Internet & Catalog Retail				467,253
Internet Software & Services 1.8%
Akamai Technologies, Inc.*		549		22,350
eBay, Inc.*		3,607		201,739
Google, Inc. - Class A*		824		622,689
VeriSign, Inc.*		481		20,880
Yahoo!, Inc.*		3,224		63,287
Total Internet Software & Services				930,945
IT Services 3.1%
Accenture PLC - Class A		1,979		142,270
Automatic Data Processing, Inc.		1,503		89,113
Cognizant Technology Solutions Corp. - Class A*		931		72,786
Computer Sciences Corp.		482		20,148
Fidelity National Information Services, Inc.		772		28,649
Fiserv, Inc.*		414		33,248
International Business Machines Corp.		3,289		667,897
Mastercard, Inc. - Class A		331		171,590
Paychex, Inc.		1,003		32,728
SAIC, Inc.		878		10,624
Teradata Corp.*		525		34,996
Total System Services, Inc.		498		11,579
Visa, Inc. - Class A		1,614		254,867
Western Union Co.(The)		1,849		26,311
Total IT Services				1,596,806
Leisure Equipment & Products 0.1%
Hasbro, Inc.		359		13,416
Mattel, Inc.		1,062		39,963
Total Leisure Equipment & Products				53,379
Life Sciences Tools & Services 0.4%
Agilent Technologies, Inc.		1,078		48,273
Life Technologies Corp.*		533		34,480
PerkinElmer, Inc.		356		12,545
Thermo Fisher Scientific, Inc.		1,115		80,436
Waters Corp.*		269		24,632
Total Life Sciences Tools & Services				200,366
Machinery 1.6%
Caterpillar, Inc.		2,025		199,240
Cummins, Inc.		547		62,812
Deere & Co.		1,213		114,095
Dover Corp.		555		38,395
Flowserve Corp.		156		24,456
Illinois Tool Works, Inc.		1,320		82,935
Ingersoll-Rand PLC		867		44,555
Joy Global, Inc.		328		20,720
PACCAR, Inc.		1,094		51,484
Pall Corp.		343		23,427
Parker Hannifin Corp.		462		42,952
Pentair Ltd.		652		33,043
Snap-on, Inc.		180		14,583
Stanley Black & Decker, Inc.		524		40,259
Xylem, Inc.		576		16,088
Total Machinery				809,044
Media 2.9%
Cablevision Systems Corp. - Class A		669		9,794
CBS Corp. - Class B		1,831		76,389

	Shares		Value
Comcast Corp. - Class A		8,231	$	313,437
DIRECTV*		1,870		95,632
Discovery Communications, Inc. - Class A*		740		51,341
Gannett Co., Inc.		711		13,957
Interpublic Group of Cos., Inc.(The)		1,335		16,167
McGraw-Hill Cos., Inc.(The)		860		49,467
News Corp. - Class A		6,246		173,264
Omnicom Group, Inc.		819		44,455
Scripps Networks Interactive, Inc. - Class A		268		16,554
Time Warner Cable, Inc.		934		83,444
Time Warner, Inc.		2,933		148,175
Viacom, Inc. - Class B		1,430		86,301
Walt Disney Co.(The)		5,489		295,747
Washington Post Co.(The) - Class B		13		5,014
Total Media				1,479,138
Metals & Mining 0.5%
Alcoa, Inc.		3,307		29,234
Allegheny Technologies, Inc.		333		10,540
Cliffs Natural Resources, Inc.(b)		441		16,454
Freeport-McMoRan Copper & Gold, Inc.		2,940		103,635
Newmont Mining Corp.		1,539		66,115
Nucor Corp.		985		45,320
United States Steel Corp.(b)		447		9,990
Total Metals & Mining				281,288
Multi-Utilities 1.0%
Ameren Corp.		751		24,362
CenterPoint Energy, Inc.		1,324		27,063
CMS Energy Corp.		818		21,023
Consolidated Edison, Inc.		908		51,647
Dominion Resources, Inc.		1,779		96,262
DTE Energy Co.		533		33,744
Integrys Energy Group, Inc.		242		13,235
NiSource, Inc.		960		25,949
PG&E Corp.		1,332		56,796
Public Service Enterprise Group, Inc.		1,567		48,859
SCANA Corp.		409		19,145
Sempra Energy		696		52,235
TECO Energy, Inc.		631		11,213
Wisconsin Energy Corp.		712		28,074
Total Multi-Utilities				509,607
Multiline Retail 0.6%
Big Lots, Inc.*		179		5,755
Dollar General Corp.*		814		37,623
Dollar Tree, Inc.*		704		28,153
Family Dollar Stores, Inc.		297		16,840
J.C. Penney Co., Inc.(b)		441		8,965
Kohl’s Corp.		655		30,320
Macy’s, Inc.		1,225		48,400
Nordstrom, Inc.		470		25,958
Target Corp.		2,017		121,847
Total Multiline Retail				323,861
Office Electronics 0.1%
Xerox Corp.		3,913		31,343
Total Office Electronics				31,343
Oil, Gas & Consumable Fuels 7.5%
Anadarko Petroleum Corp.		1,548		123,871
Apache Corp.		1,212		101,517
Cabot Oil & Gas Corp.		651		34,360
Chesapeake Energy Corp.		1,606		32,409

4

GUGGENHEIM 2X S&P 500® ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued)	January 31, 2013

	Shares		Value
Chevron Corp.		6,063	$	698,154
ConocoPhillips		3,760		218,080
CONSOL Energy, Inc.		706		22,126
Denbury Resources, Inc.*		1,199		22,337
Devon Energy Corp.		1,167		66,741
EOG Resources, Inc.		838		104,733
EQT Corp.		464		27,566
Exxon Mobil Corp.		14,122		1,270,556
Hess Corp.		920		61,787
Kinder Morgan, Inc.		1,960		73,422
Marathon Oil Corp.		2,188		73,539
Marathon Petroleum Corp.		1,051		77,995
Murphy Oil Corp.		572		34,045
Newfield Exploration Co.*		418		12,331
Noble Energy, Inc.		551		59,392
Occidental Petroleum Corp.		2,510		221,558
Peabody Energy Corp.		832		20,925
Phillips 66		1,939		117,445
Pioneer Natural Resources Co.		381		44,783
QEP Resources, Inc.		552		16,201
Range Resources Corp.		504		33,854
Southwestern Energy Co.*		1,082		37,113
Spectra Energy Corp.		2,062		57,282
Tesoro Corp.		434		21,132
Valero Energy Corp.		1,715		74,997
Williams Cos., Inc.(The)		2,088		73,184
WPX Energy, Inc.*		618		9,289
Total Oil, Gas & Consumable Fuels				3,842,724
Paper & Forest Products 0.1%
International Paper Co.		1,360		56,331
MeadWestvaco Corp.		542		16,992
Total Paper & Forest Products				73,323
Personal Products 0.1%
Avon Products, Inc.		1,338		22,719
Estee Lauder Cos., Inc.(The) - Class A		744		45,332
Total Personal Products				68,051
Pharmaceuticals 4.8%
AbbVie, Inc.		4,896		179,634
Actavis, Inc.*		397		34,297
Allergan, Inc.		952		99,970
Bristol-Myers Squibb Co.		5,112		184,748
Eli Lilly & Co.		3,163		169,822
Forest Laboratories, Inc.*		726		26,354
Hospira, Inc.*		511		17,435
Johnson & Johnson		8,584		634,529
Merck & Co., Inc.		9,417		407,285
Mylan, Inc.*		1,261		35,648
Perrigo Co.		273		27,439
Pfizer, Inc.		22,806		622,148
Total Pharmaceuticals				2,439,309
Professional Services 0.1%
Dun & Bradstreet Corp.(The)		139		11,334
Equifax, Inc.		371		21,778
Robert Half International, Inc.		435		15,329
Total Professional Services				48,441
Real Estate Investment Trusts (REITs) 1.7%
American Tower Corp.		1,226		93,360
Apartment Investment & Management Co. - Class A		452		12,331
AvalonBay Communities, Inc.		355		46,076
Boston Properties, Inc.		468		49,271

	Shares		Value
Equity Residential		997	$	55,224
HCP, Inc.		1,400		64,946
Health Care REIT, Inc.		804		50,523
Host Hotels & Resorts, Inc.		2,245		37,694
Kimco Realty Corp.		1,262		26,212
Plum Creek Timber Co., Inc.		501		24,138
ProLogis, Inc.		1,427		56,937
Public Storage		447		68,807
Simon Property Group, Inc.		958		153,452
Ventas, Inc.		915		60,655
Vornado Realty Trust		526		44,426
Weyerhaeuser Co.		1,678		50,541
Total Real Estate Investment Trusts (REITs)				894,593
Real Estate Management & Development 0.0%(a)
CBRE Group, Inc.*		934		20,156
Total Real Estate Management & Development				20,156
Road & Rail 0.7%
CSX Corp.		3,196		70,408
Norfolk Southern Corp.		979		67,424
Ryder System, Inc.		158		8,971
Union Pacific Corp.		1,457		191,537
Total Road & Rail				338,340
Semiconductors & Semiconductor Equipment 1.6%
Advanced Micro Devices, Inc.*(b)		1,874		4,872
Altera Corp.		993		33,186
Analog Devices, Inc.		933		40,716
Applied Materials, Inc.		3,711		47,909
Broadcom Corp. - Class A		1,608		52,180
First Solar, Inc.*		186		5,241
Intel Corp.		15,413		324,289
KLA-Tencor Corp.		516		28,334
Lam Research Corp.*		530		21,804
Linear Technology Corp.		717		26,257
LSI Corp.*		1,714		12,067
Microchip Technology, Inc.		602		20,137
Micron Technology, Inc.*		3,152		23,829
NVIDIA Corp.		1,936		23,735
Teradyne, Inc.*		581		9,389
Texas Instruments, Inc.		3,473		114,887
Xilinx, Inc.		808		29,484
Total Semiconductors & Semiconductor Equipment				818,316
Software 2.8%
Adobe Systems, Inc.*		1,534		58,031
Autodesk, Inc.*		696		27,060
BMC Software, Inc.*		441		18,323
CA, Inc.		1,039		25,788
Citrix Systems, Inc.*		579		42,360
Electronic Arts, Inc.*		946		14,881
Intuit, Inc.		862		53,771
Microsoft Corp.		23,463		644,529
Oracle Corp.		11,643		413,443
Red Hat, Inc.*		598		33,225
Salesforce.com, Inc.*		405		69,713
Symantec Corp.*		2,149		46,784
Total Software				1,447,908
Specialty Retail 1.8%
Abercrombie & Fitch Co. - Class A		247		12,350
AutoNation, Inc.*		120		5,820
AutoZone, Inc.*		115		42,516
Bed Bath & Beyond, Inc.*		709		41,618
Best Buy Co., Inc.		827		13,447

5

GUGGENHEIM 2X S&P 500® ETF
SCHEDULE OF INVESTMENTS (Unaudited) (concluded)	January 31, 2013

	Shares		Value
CarMax, Inc.*		710	$	27,988
GameStop Corp. - Class A(b)		376		8,723
Gap, Inc.(The)		921		30,098
Home Depot, Inc.		4,632		309,974
Limited Brands, Inc.		742		35,631
Lowe’s Cos., Inc.		3,484		133,054
O’Reilly Automotive, Inc.*		356		32,983
PetSmart, Inc.		333		21,782
Ross Stores, Inc.		690		41,193
Staples, Inc.		2,088		28,146
Tiffany & Co.		369		24,262
TJX Cos., Inc.		2,258		102,016
Urban Outfitters, Inc.*		340		14,549
Total Specialty Retail				926,150
Textiles, Apparel & Luxury Goods 0.5%
Coach, Inc.		878		44,778
Fossil, Inc.*		167		17,632
NIKE, Inc. - Class B		2,260		122,153
Ralph Lauren Corp.		190		31,631
V.F. Corp.		273		40,289
Total Textiles, Apparel & Luxury Goods				256,483
Thrifts & Mortgage Finance 0.1%
Hudson City Bancorp, Inc.		1,472		12,586
People’s United Financial, Inc.		1,078		13,270
Total Thrifts & Mortgage Finance				25,856
Tobacco 1.5%
Altria Group, Inc.		6,272		211,241
Lorillard, Inc.		1,202		46,962
Philip Morris International, Inc.		5,174		456,140
Reynolds American, Inc.		1,003		44,112
Total Tobacco				758,455
Trading Companies & Distributors 0.2%
Fastenal Co.		836		41,532
W.W. Grainger, Inc.		185		40,297
Total Trading Companies & Distributors				81,829
Wireless Telecommunication Services 0.2%
Crown Castle International Corp.*		909		64,103
MetroPCS Communications, Inc.*		982		9,850
Sprint Nextel Corp.*		9,307		52,398
Total Wireless Telecommunication Services				126,351
Total Common Stocks (Cost $32,051,335)				41,454,273
	Face Amount
REPURCHASE AGREEMENT 5.9%
State Street Bank & Trust Co., 0.01%, dated 01/31/13, to be repurchased at $3,012,001 on 02/01/13 collateralized by $3,060,000 FHLMC at 1.000% due 09/27/17 with a value of $3,075,300(c)	$	3,012,000		3,012,000
Total Repurchase Agreements (Cost $3,012,000)				3,012,000

	Face Amount		Value
SECURITIES LENDING COLLATERAL 0.1%(d)
Repurchase Agreements:
HSBC Securities Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)	$	9,411	$	9,411
Merrill Lynch, Fenner & Smith, Inc., issued 1/31/2013 at 0.13% due 2/1/2013(c)		9,411		9,411
RBS Securities Inc., issued 1/31/2013 at 0.14% due 2/1/2013(c)		13,399		13,399
Total Securities Lending Collateral (Cost $32,221)				32,221
Total Investments 86.8%(e) (Cost $35,095,556)				44,498,494
Other Assets and Liabilities, net – 13.2%				6,763,769
Net Assets – 100.0%			$	51,262,263
	Contracts		Unrealized Gain/(Loss)
FUTURES CONTRACTS PURCHASED
March 2013 S&P 500 Index E Mini Futures Contracts (Aggregate Market Value of Contracts $11,871,735)(e)		159	$	539,996
	Units
EQUITY INDEX SWAP AGREEMENTS PURCHASED
Credit Suisse First Boston February 2013 S&P 500 Index Swap, Terminating 02/28/13 (Notional Market Value $33,262,218)**(c)		22,146	$	(85,269	)
Goldman Sachs International February 2013 S&P 500 Index Swap, Terminating 02/28/13 (Notional Market Value $16,232,951)**(c)		10,821		(22,397	)
(Total Notional Market Value $49,495,169)			$	(107,666	)

* Non-Income Producing Security.

** Price return based on S&P 500 Index + / - financing at a variable rate.

(a) Amount represents less than 0.05% of net assets.

(b) All or a portion of this security was on loan as of January 31, 2013.

(c) Values determined based on Level 2 inputs (Note G).

(d) Securities lending collateral (Note H).

(e) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

FHLMC - Federal Home Loan Mortgage Corporation

PLC - Public Limited Company

6

GUGGENHEIM INVERSE 2X S&P 500® ETF
SCHEDULE OF INVESTMENTS (Unaudited)	January 31, 2013

	Face Amount			Value
REPURCHASE AGREEMENT 62.6%
State Street Bank & Trust Co., 0.01%, dated 01/31/13, to be repurchased at $19,822,006 on 02/01/13 collateralized by $20,120,000 FHLMC at 1.000% due 09/27/17 with a value of $20,220,600(a)	$	19,822,000		$	19,822,000
Total Repurchase Agreements (Cost $19,822,000)					19,822,000
Total Investments 62.6%(b) (Cost $19,822,000)					19,822,000
Other Assets and Liabilities, net – 37.4%					11,851,234
Net Assets – 100.0%				$	31,673,234
	Contracts			Unrealized Gain/(Loss)
FUTURES CONTRACTS SOLD SHORT
March 2013 S&P 500 Index E-Mini Futures Contracts (Aggregate Market Value of Contracts $7,466,500)(b)		(100	)	$	(340,130	)
	Units
EQUITY INDEX SWAP AGREEMENTS SOLD SHORT
Credit Suisse First Boston February 2013 S&P 500 Index Swap, Terminating 02/28/13 (Notional Market Value $44,946,669)*(a)		29,926			113,930
Goldman Sachs International February 2013 S&P 500 Index Swap, Terminating 02/28/13 (Notional Market Value $11,050,374)*(a)		7,366			15,250
(Total Notional Market Value $55,997,043)				$	129,180

* Price return based on S&P 500 Index + / - financing at a variable rate.

(a) Values determined based on Level 2 inputs(Note G).

(b) Unless otherwise indicated, the values of the Portfolio are determined based on Level 1 inputs (Note G).

FHLMC - Federal Home Loan Mortgage Corporation

NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) January 31, 2013

For Information on other significant accounting policies, please refer to the Funds’ most recent semiannual or annual shareholder report.

1. Significant Accounting Policies

The following significant accounting policies are in conformity with U.S. generally accepted accounting principles (“U.S. GAAP”) and are consistently followed by the Trust. This requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. All time references are based on Eastern Time.

A. Equity securities listed on an exchange (New York Stock Exchange (“NYSE”) or American Stock Exchange) are valued at the last quoted sales price as of the close of business on the NYSE, usually 4:00 p.m. on the valuation date. Equity securities listed on the NASDAQ market system are valued at the NASDAQ Official Closing Price on the valuation date. The Funds invest in money market mutual funds, which are valued at their NAV.

Investments for which market quotations are not readily available are fair valued as determined in good faith by Guggenheim Investments under the direction of the Board of Trustees using methods established or ratified by the Board of Trustees. These methods include, but are not limited to: (i) using general information as to how these securities and assets trade; (ii) in connection with futures contracts and options thereupon, and other derivative investments, information as to how (a) these contracts and other derivative investments trade in the futures or other derivative markets, respectively, and (b) the securities underlying these contracts and other derivative investments trade in the cash market; and (iii) other information and considerations, including current values in related markets.

If events occur after the close of a foreign exchange that will affect the value of a Fund’s portfolio securities before the time as of which the NAV is calculated (a “significant event”), the security will generally be priced using a fair value procedure. If the Valuation Committee determines a significant event has occurred, it will evaluate the impact of that event on an affected security or securities, to determine whether a fair value adjustment would materially affect the Funds’ NAV. Some of the factors which may be considered by the Board of Trustees in determining fair value are fundamental analytical data relating to the investment, the nature and duration of any restrictions on disposition, trading in similar securities of the same issuer or comparable companies, information from broker-dealers, and an evaluation of the forces that influence the market in which the securities are purchased and sold.

Generally, trading in foreign securities markets is substantially completed each day at various times prior to the close of the NYSE. The values of foreign securities are determined as of the close of such foreign markets or the close of the NYSE, if earlier. All investments quoted in foreign currency are valued in U.S. dollars on the basis of the foreign currency exchange rates prevailing at the close of business. Investments in foreign securities may involve risks not present in domestic investments. The Valuation Committee will determine the current value of such foreign securities by taking into consideration certain factors which may include those discussed above, as well as the following factors, among others: the value of the securities traded on other foreign markets, ADR trading, closed-end fund trading, foreign currency exchange activity, and the trading prices of financial products that are tied to foreign securities such as World Equity Benchmark Securities. In addition, the Board of Trustees has authorized the Valuation Committee and Administrator to use prices and other information supplied by a third party pricing vendor in valuing foreign securities.

The value of futures contracts purchased and sold by the Funds are accounted for using the unrealized gain or loss on the contracts that is determined by marking the contracts to their current realized settlement prices. Financial futures contracts are valued at the 4:00 p.m. price on the valuation date. In the event that the exchange for a specific futures contract closes earlier than 4:00 p.m., the futures contract is valued at the Official Settlement Price of the exchange. However, the underlying securities from which the futures contract value is derived are monitored until 4:00 p.m. to determine if fair valuation would provide a more accurate valuation.

The value of swap agreements entered into by a Fund is accounted for using the unrealized gain or loss on the agreements that is determined by marking the agreements to the last quoted value of the index that the swap pertains to at the close of the NYSE. The swap’s market value is then adjusted to include dividends accrued, financing charges and/or interest associated with the swap agreements.

Debt securities with a maturity of greater than 60 days at acquisition are valued at prices that reflect broker/dealer supplied valuations or are obtained from independent pricing services, which may consider the trade activity, treasury yields, yield or price of bonds of comparable quality, coupon, maturity, and type, as well as prices quoted by dealers who make markets in such securities. Short-term debt securities with a maturity of 60 days or less at acquisition and repurchase agreements are valued at amortized cost, which approximates market value.

B. Security transactions are recorded on the trade date for financial reporting purposes. Realized gains and losses from securities transactions are recorded using the identified cost basis. Proceeds from lawsuits related to investment holdings are recorded as realized gains in the respective fund. Dividend income is recorded on the ex-dividend date, net of applicable taxes withheld by foreign countries. Taxable non-cash dividends are recorded as dividend income. Interest income, including amortization of premiums and accretion of discounts, is accrued on a daily basis. Distributions received from investments in REITs are recorded as dividend income on the ex-dividend date, subject to reclassification upon notice of the character of such distribution by the issuer.

C. Distributions of net investment income and net realized gains, if any, in all the Funds, are declared and paid at least annually. Distributions are recorded on the ex-dividend date and are determined in accordance with income tax regulations which may differ from U.S. GAAP.

D. Upon entering into a futures contract the Guggenheim 2x S&P 500 ETF and/or Guggenheim Inverse 2x S&P 500 ETF, deposits and maintains as collateral an initial margin as required by the exchange on which the transaction is affected. Pursuant to the contract, the Fund agrees to receive from or pay to the broker an amount of cash equal to the daily fluctuation in value of the contract. Such receipts or payments are known as variation margin and are recorded by the Fund as unrealized gains or losses. When the contract is closed, the Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

E. The Guggenheim 2x S&P 500 ETF and Guggenheim Inverse 2x S&P 500 ETF swap agreements are marked-to-market daily and the change, if any, is recorded as unrealized gain or loss. Payments received or made as a result of an agreement or termination of the agreement are recognized as realized gains or losses.

F. The accounting records of the Funds are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income, and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions. Changes in the relationship of these foreign currencies to the U.S. dollar can significantly affect the value of the investments and earnings of the Funds. Foreign investments may also subject the Fund to foreign government exchange restrictions, expropriation, taxation or other political, social or economic developments, all of which could affect the market and/or credit risk of the investments.

The Funds do not isolate that portion of the results of operations resulting from changes in the foreign exchange rates on investments from the fluctuations arising from changes in the market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments.

Net realized foreign exchange gains or losses arise from the difference between asset and liability amounts initially stated in foreign currencies and the U.S. dollar value of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of portfolio securities and other assets and liabilities at the end of the reporting period, resulting from changes in the exchange rates.

G. In accordance with U.S. GAAP, fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or, in the absence of a principal market, the most advantageous market for the investment or liability. A three-tier hierarchy is utilized to distinguish between (1) inputs that reflect the assumptions market participants would use in pricing an asset or liability developed based on market data obtained from sources independent of the reporting entity (observable inputs) and (2) inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing an asset or liability developed based on the best information available in the circumstances (unobservable inputs) and to establish classification of fair value measurements for disclosure purposes. Various inputs are used in determining the value of the Funds’ investments. The inputs are summarized in the three broad levels listed below:

Level 1 — quoted prices in active markets for identical securities.

Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 — significant unobservable inputs (including the fund’s own assumptions used to determine the fair value of investments).

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following table summarizes the inputs used to value the Funds’ net assets as of January 31, 2013:

Fund	Level 1 Investments in Securities		Level 1 Other Financial Instruments		Level 2 Investments in Securities		Level 2 Other Financial Instruments		Level 3 Investments in Securities		Total
Assets
Guggenheim S&P 500® Equal Weight ETF	$	3,850,556,018	$	—	$	67,269,973	$	—	$	—	$	3,917,825,991
Guggenheim S&P MidCap 400® Equal Weight ETF		3,500,923		—		22,620		—		—		3,523,543
Guggenheim S&P SmallCap 600® Equal Weight ETF		3,487,834		—		7,919		—		—		3,495,753
Guggenheim Russell MidCap® Equal Weight ETF		56,451,226		—		1,288,700		—		—		57,739,926
Guggenheim Russell 1000® Equal Weight ETF		46,632,521		—		685,653		—		—		47,318,174
Guggenheim Russell 2000® Equal Weight ETF		13,806,380		—		227,092		—		—		14,033,472
Guggenheim MSCI EAFE Equal Weight ETF		12,158,636		—		17,465		—		—		12,176,101
Guggenheim MSCI Emerging Markets Equal Weight ETF		14,433,019		—		89,949		—		70		14,523,038
Guggenheim S&P 500® Equal Weight Consumer Discretionary ETF		45,360,833		—		1,012,769		—		—		46,373,602
Guggenheim S&P 500® Equal Weight Consumer Staples ETF		43,731,348		—		986,933		—		—		44,718,281
Guggenheim S&P 500® Equal Weight Energy ETF		31,629,987		—		340,770		—		—		31,970,757
Guggenheim S&P 500® Equal Weight Financials ETF		15,687,573		—		—		—		—		15,687,573
Guggenheim S&P 500® Equal Weight Health Care ETF		97,702,802		—		—		—		—		97,702,802
Guggenheim S&P 500® Equal Weight Industrials ETF		22,049,314		—		166,600		—		—		22,215,914
Guggenheim S&P 500® Equal Weight Materials ETF		33,743,963		—		1,826,104		—		—		35,570,067
Guggenheim S&P 500® Equal Weight Technology ETF		87,972,047		—		716,405		—		—		88,688,452
Guggenheim S&P 500® Equal Weight Utilities ETF		39,355,543		—		921,850		—		—		40,277,393
Guggenheim Russell Top 50® Mega Cap ETF		588,101,647		—		950,000		—		—		589,051,647
Guggenheim S&P 500® Pure Value ETF		138,901,586		—		3,510,593		—		—		142,412,179
Guggenheim S&P 500® Pure Growth ETF		369,902,640		—		3,298,300		—		—		373,200,940
Guggenheim S&P MidCap 400® Pure Value ETF		41,825,376		—		475,249		—		—		42,300,625
Guggenheim S&P MidCap 400® Pure Growth ETF		579,335,327		—		2,009,152		—		—		581,344,479
Guggenheim S&P SmallCap 600® Pure Value ETF		80,111,174		—		1,330,384		—		—		81,441,558
Guggenheim S&P SmallCap 600® Pure Growth ETF		76,995,825		—		2,231,445		—		—		79,227,270
Guggenheim 2x S&P 500® ETF		41,454,273		539,996		3,044,221		—		—		45,038,490
Guggenheim Inverse 2x S&P 500® ETF		—		—		19,822,000		129,180		—		19,951,180
Liabilities
Guggenheim S&P 500® Equal Weight ETF		—		—		—		—		—		—
Guggenheim S&P MidCap 400® Equal Weight ETF		—		—		—		—		—		—
Guggenheim S&P SmallCap 600® Equal Weight ETF		—		—		—		—		—		—
Guggenheim Russell MidCap® Equal Weight ETF		—		—		—		—		—		—
Guggenheim Russell 1000® Equal Weight ETF		—		—		—		—		—		—
Guggenheim Russell 2000® Equal Weight ETF		—		—		—		—		—		—
Guggenheim MSCI EAFE Equal Weight ETF		—		—		—		—		—		—
Guggenheim MSCI Emerging Markets Equal Weight ETF		—		—		—		—		—		—
Guggenheim S&P 500® Equal Weight Consumer Discretionary ETF		—		—		—		—		—		—
Guggenheim S&P 500® Equal Weight Consumer Staples ETF		—		—		—		—		—		—
Guggenheim S&P 500® Equal Weight Energy ETF		—		—		—		—		—		—
Guggenheim S&P 500® Equal Weight Financials ETF		—		—		—		—		—		—
Guggenheim S&P 500® Equal Weight Health Care ETF		—		—		—		—		—		—
Guggenheim S&P 500® Equal Weight Industrials ETF		—		—		—		—		—		—
Guggenheim S&P 500® Equal Weight Materials ETF		—		—		—		—		—		—
Guggenheim S&P 500® Equal Weight Technology ETF		—		—		—		—		—		—
Guggenheim S&P 500® Equal Weight Utilities ETF		—		—		—		—		—		—
Guggenheim Russell Top 50® Mega Cap ETF		—		—		—		—		—		—
Guggenheim S&P 500® Pure Value ETF		—		—		—		—		—		—
Guggenheim S&P 500® Pure Growth ETF		—		—		—		—		—		—
Guggenheim S&P MidCap 400® Pure Value ETF		—		—		—		—		—		—
Guggenheim S&P MidCap 400® Pure Growth ETF		—		—		—		—		—		—
Guggenheim S&P SmallCap 600® Pure Value ETF		—		—		—		—		—		—
Guggenheim S&P SmallCap 600® Pure Growth ETF		—		—		—		—		—		—
Guggenheim 2x S&P 500® ETF		—		—		—		107,666		—		107,666
Guggenheim Inverse 2x S&P 500® ETF		—		340,130		—		—		—		340,130

The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value for the period ended January 31, 2013:

	Securities
Guggenheim MSCI Emerging Markets Equal Weight ETF
Assets:
Beginning Balance	$	—
Total change in unrealized gains or losses included in earnings		70
Ending Balance	$	70

For the period ended January 31, 2013, there were no transfers between levels.

2. Portfolio Securities Loaned

The Funds may lend their securities to approved brokers to earn additional income. Security lending income shown on the statement of operations is shown net of rebates paid to the borrowers and earnings on cash collateral investments shared with the lending agent. Within this arrangement, the Funds act as the lender, Credit Suisse acts as the lending agent, and other approved registered broker dealers act as the borrowers. The Funds receive cash collateral, valued at 102% of the value of the securities on loan. Under the terms of the Funds’ securities lending agreement with Credit Suisse, cash collateral is invested in one or more joint repurchase agreements collateralized by obligations of the U.S. Treasury or Government Agencies. The Funds bear the risk of loss on cash collateral investments. Collateral is maintained over the life of the loan in an amount not less than the value of loaned securities, as determined at the close of fund business each day; any additional collateral required due to changes in security values is delivered to the

funds the next business day. Although the collateral mitigates the risk, the Funds could experience a delay in recovering its securities and a possible loss of income or value if the borrower fails to return the securities. The Funds have the right under the securities lending agreement to recover the securities from the borrower on demand.

At January 31, 2013, the following Funds participated in securities lending as follows:

Security Lending Table

	Value of Securities Loaned		Cash Collateral Received
Guggenheim S&P 500® Equal Weight ETF	$	64,388,973	$	63,059,904
Guggenheim S&P MidCap 400® Equal Weight ETF		22,620		22,073
Guggenheim S&P SmallCap 600® Equal Weight ETF		7,919		7,681
Guggenheim Russell MidCap Equal Weight ETF		1,288,700		1,254,405
Guggenheim Russell 1000® Equal Weight ETF		685,653		666,873
Guggenheim Russell 2000® Equal Weight ETF		227,092		217,152
Guggenheim MSCI EAFE Equal Weight ETF		17,465		16,182
Guggenheim MSCI Emerging Markets Equal Weight ETF		89,949		83,065
Guggenheim S&P 500® Equal Weight Consumer Discretionary ETF		1,012,769		981,720
Guggenheim S&P® 500 Equal Weight Consumer Staples ETF		986,933		963,742
Guggenheim S&P 500® Equal Weight Energy ETF		340,770		333,400
Guggenheim S&P 500® Equal Weight Financials ETF		—		—
Guggenheim S&P 500® Equal Weight Health Care ETF		—		—
Guggenheim S&P 500® Equal Weight Industrials ETF		166,600		195,976
Guggenheim S&P 500® Equal Weight Materials ETF		1,826,104		1,770,956
Guggenheim S&P 500® Equal Weight Technology ETF		716,405		636,345
Guggenheim S&P 500® Equal Weight Utilities ETF		921,850		891,972
Guggenheim Russell Top 50® ETF		—		—
Guggenheim S&P 500® Pure Value ETF		3,510,593		3,486,602
Guggenheim S&P 500® Pure Growth ETF		3,298,300		3,190,776
Guggenheim S&P Midcap 400® Pure Value ETF		475,249		464,963
Guggenheim S&P Midcap 400® Pure Growth ETF		2,009,152		1,903,357
Guggenheim S&P Smallcap 600® Pure Value ETF		1,330,384		1,316,078
Guggenheim S&P Smallcap 600® Pure Growth ETF		2,231,445		2,157,121
Guggenheim 2x S&P 500® ETF		32,221		31,264
Guggenheim Inverse 2x S&P 500® ETF		—		—

The following represents a breakdown of the collateral for the joint repurchase agreements at January 31, 2013:

Security Lending Repo Table

Counterparty and Terms of Agreement	Face Value		Repurchase Price		Collateral	Par Value		Fair Value
HSBC Securities Inc.					Fannie Mae Note
0.13%					Zero Coupon
Due 02/01/13	$	25,000,000	$	25,000,090	11/15/17	$	11,801,000	$	11,175,428
					5/15/18		7,010,000		6,480,535
					11/15/19		8,925,000		7,845,789
Merrill Lynch, Pierce, Fenner & Smith, Inc.					Fannie Mae Note
0.13%					0.11%
Due 02/01/13		25,000,000		25,000,000	07/17/13		25,505,000		25,501,429
RBS Securities Inc.					Freddie Mac Note
0.14%					5.25%
Due 02/01/13		35,594,000		35,594,744	04/18/16		5,361,000		6,251,810
					4.38%
					07/17/15		27,335,000		30,054,831

3. Subsequent Events

On February 14, 2013, at the recommendation of Security Investors, LLC, the investment adviser to the series of Rydex ETF Trust (the “Trust”), the Trust’s Board of Trustees (the “Board”) approved the closing and subsequent liquidation of the Guggenheim MSCI EAFE Equal Weight ETF, Guggenheim S&P MidCap 400^® Equal Weight ETF, Guggenheim S&P SmallCap 600^® Equal Weight ETF, Guggenheim 2x S&P 500^® ETF, and Guggenheim Inverse 2x S&P 500^® ETF (each, a “Fund” and collectively, the “Funds” pursuant to the terms of a Plan of Liquidation. Accordingly, each Fund is expected to cease operations, liquidate its assets, and distribute the liquidation proceeds to shareholders of record on or about March 22, 2013 (the “Liquidation Date”).

The last day of trading of Fund shares on the NYSE Arca, Inc. (the “Exchange”) is expected to be March 15, 2013. The Exchange will halt trading in the Funds before the open of trading on March 18, 2013. Following the close of trading on March 15, 2013 and prior to the Liquidation Date, each Fund will be closed to new investments and shareholders may only be able to sell their shares to certain broker-dealers. There is no assurance that there will be a market for the Funds’ shares during this time period. Prior to the close of trading on March 15, 2013, shareholders may continue to purchase and sell Fund shares through a broker in the standard manner. Customary brokerage charges may apply to such transactions.

Item 2.      Controls and Procedures.

(a) The registrant’s President (principal executive officer) and Treasurer (principal financial officer) have evaluated the registrant’s disclosure controls and procedures within 90 days of this filing and have concluded that the registrant’s disclosure controls and procedures were effective as of that date in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely.

(b) The registrant’s principal executive officer and principal financial officer are aware of no change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3.      Exhibits.

A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act (17 CFR 270.30a-2(a)), exactly as set forth below: Attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Rydex ETF Trust
By:	/s/ Donald C. Cacciapaglia
	Donald C. Cacciapaglia, President

Date: March 27, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Donald C. Cacciapaglia
	Donald C. Cacciapaglia, President

Date: March 27, 2013

By:	/s/ Nikolaos Bonos
	Nikolaos Bonos, Vice President and Treasurer

Date: March 27, 2013