0000891804-13-000093.txt : 20130122 0000891804-13-000093.hdr.sgml : 20130121 20130122151805 ACCESSION NUMBER: 0000891804-13-000093 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 8 FILED AS OF DATE: 20130122 DATE AS OF CHANGE: 20130122 EFFECTIVENESS DATE: 20130122 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Claymore Exchange-Traded Fund Trust CENTRAL INDEX KEY: 0001364089 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 333-134551 FILM NUMBER: 13540147 BUSINESS ADDRESS: STREET 1: C/O GUGGENHEIM FUNDS INVESTMENT ADVISORS STREET 2: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 630-505-3700 MAIL ADDRESS: STREET 1: C/O GUGGENHEIM FUNDS INVESTMENT ADVISORS STREET 2: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Claymore Exchange-Traded Fund Trust CENTRAL INDEX KEY: 0001364089 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-21906 FILM NUMBER: 13540148 BUSINESS ADDRESS: STREET 1: C/O GUGGENHEIM FUNDS INVESTMENT ADVISORS STREET 2: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 BUSINESS PHONE: 630-505-3700 MAIL ADDRESS: STREET 1: C/O GUGGENHEIM FUNDS INVESTMENT ADVISORS STREET 2: 2455 CORPORATE WEST DRIVE CITY: LISLE STATE: IL ZIP: 60532 0001364089 S000012988 Guggenheim BRIC ETF C000035086 Guggenheim BRIC ETF EEB 0001364089 S000012989 Guggenheim Insider Sentiment ETF C000035087 Guggenheim Insider Sentiment ETF NFO 0001364089 S000012990 Wilshire Micro-Cap ETF C000035088 Wilshire Micro-Cap ETF WMCR 0001364089 S000012992 Guggenheim Multi-Asset Income ETF C000035090 Guggenheim Multi-Asset Income ETF CVY 0001364089 S000014618 Guggenheim Spin-Off ETF C000040013 Guggenheim Spin-Off ETF CSD 0001364089 S000014620 Guggenheim Defensive Equity ETF C000040015 Guggenheim Defensive Equity ETF DEF 0001364089 S000016401 Guggenheim Mid-Cap Core ETF C000045532 Guggenheim Mid-Cap Core ETF CZA 0001364089 S000023006 Guggenheim Raymond James SB-1 Equity ETF C000066993 Guggenheim Raymond James SB-1 Equity ETF RYJ 0001364089 S000028048 Wilshire 5000 Total Market ETF C000085365 Wilshire 5000 Total Market ETF WFVK 0001364089 S000028049 Wilshire US REIT ETF C000085366 Wilshire US REIT ETF WREI 0001364089 S000028050 Wilshire 4500 Completion ETF C000085367 Wilshire 4500 Completion ETF WXSP 485BPOS 1 gug55587etf1-485xbrl.htm ETF 1 gug55587etf1-485xbrl.htm
As filed with the Securities and Exchange Commission on January 22, 2013
 
SECURITIES ACT FILE NO. 333-134551
INVESTMENT COMPANY ACT FILE NO. 811-21906
==============================================================================================================================================================================================================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 
FORM N-1A
 
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
x
Pre-Effective Amendment No.
o
Post Effective Amendment No. 230
x
 
and/or
 
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
x
Amendment No. 233
 
(Check appropriate box or boxes)
 
CLAYMORE EXCHANGE-TRADED FUND TRUST
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
 
2455 CORPORATE WEST DRIVE
LISLE, ILLINOIS 60532
(Address of Principal Executive Offices)
 
(630) 505-3700
Registrant's Telephone Number
 
KEVIN M. ROBINSON, ESQ.
GUGGENHEIM FUNDS INVESTMENT ADVISORS, LLC
2455 CORPORATE WEST DRIVE
LISLE, ILLINOIS 60532
(Name and Address of Agent for Service)
 
Copy to:
STUART M. STRAUSS, ESQ.
DECHERT LLP
1095 AVENUE OF THE AMERICAS
NEW YORK, NY 10036
 
APPROXIMATE DATE OF PROPOSED PUBLIC OFFERING:
 
IT IS PROPOSED THAT THIS FILING WILL BECOME EFFECTIVE (CHECK APPROPRIATE BOX)
 
x
IMMEDIATELY UPON FILING PURSUANT TO PARAGRAPH (B) OF RULE 485.
 
¨
ON [DATE] PURSUANT TO PARAGRAPH (B) OF RULE 485.
 
¨
60 DAYS AFTER FILING PURSUANT TO PARAGRAPH (A)(1) OF RULE 485.
 
¨
ON [DATE] PURSUANT TO PARAGRAPH (A) OF RULE 485.
 
¨
75 DAYS AFTER FILING PURSUANT TO PARAGRAPH (A)(2) OF RULE 485.
 
¨
ON [DATE] PURSUANT TO PARAGRAPH (A)(2) OF RULE 485.
 
 
 
 

 
EXPLANATORY NOTE
 
This filing relates to the following series of the Registrant:
 
Guggenheim BRIC ETF
Guggenheim Defensive Equity ETF
Guggenheim Insider Sentiment ETF
Guggenheim Mid-Cap Core ETF
Guggenheim Multi-Asset Income ETF
Guggenheim Raymond James SB-1 Equity ETF
Guggenheim Spin-Off ETF
Wilshire 4500 Completion ETF
Wilshire 5000 Total Market ETF
Wilshire Micro-Cap ETF
Wilshire US REIT ETF
 
 
2

 
 
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all the requirements for effectiveness pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Lisle and State of Illinois on the 22nd day of January, 2013.
 
CLAYMORE EXCHANGE-TRADED FUND TRUST

By:          /s/ Donald C. Cacciapaglia
  Donald C. Cacciapaglia
  Chief Executive Officer

Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities and on the date indicated.
 
SIGNATURES
TITLE
DATE
*
   
Randall C. Barnes
Trustee
January 22, 2013
*
   
Roman Friedrich III
Trustee
January 22, 2013
*
   
Robert B. Karn III
Trustee
January 22, 2013
*
   
Ronald A. Nyberg
Trustee
January 22, 2013
*
   
Ronald E. Toupin, Jr.
Trustee
January 22, 2013
     
/s/ Donald C. Cacciapaglia
Donald C. Cacciapaglia
Trustee and
Chief Executive Officer
 
January 22, 2013
/s/ John L. Sullivan
John L. Sullivan
 
Treasurer, Chief Financial Officer
And Chief Accounting Officer
January 22, 2013
*/s/ Stevens T. Kelly
 
January 22, 2013
Stevens T. Kelly
Attorney-In-Fact, pursuant to power of attorney
 

 
 
3

 

EXHIBIT INDEX
 
EX-101.INS
XBRL Instance Document
   
EX-101.SCH
XBRL Taxonomy Extension Schema Document
   
EX-101.CAL
XBRL Taxonomy Extension Calculation Linkbase
   
EX-101.DEF
XBRL Taxonomy Extension Definition Linkbase
   
EX-101.LAB
XBRL Taxonomy Extension Labels Linkbase
   
EX-101.PRE
XBRL Taxonomy Extension Presentation Linkbase

 
 
4
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Market ETF (WFVK)</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p> <p style="font: 8pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">Wilshire US REIT ETF (WREI)</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p> <p style="font: 8pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt">Wilshire 4500 Completion ETF (WXSP)</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><font style="font-size: 8pt"><b>Investment Objective</b></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Investment Objective</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Investment Objective</b></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Fund seeks investment results that correspond generally to the performance, before the Fund&#146;s fees and expenses, of an equity index called BNY Mellon BRIC Select ADR Index (the &#147;BRIC Index&#148; or the &#147;Index&#148;).</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The Fund seeks investment results that correspond generally to the performance, before the Fund&#146;s fees and expenses, of an equity index called the Sabrient Insider Sentiment Index (the &#147;Insider Sentiment Index&#148; or &#147;Index&#148;).</p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Fund seeks investment results that correspond generally to the performance, before the Fund&#146;s fees and expenses, of an equity index called the Wilshire US Micro-Cap Index<sup>SM</sup>&#160;(the &#147;Wilshire Micro-Cap&#148; or the &#147;Index&#148;).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Fund seeks investment results that correspond generally to the performance, before the Fund&#146;s fees and expenses, of an equity index called the Zacks Multi-Asset Income Index (the &#147;Index&#148;).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Fund seeks investment results that correspond generally to the performance, before the Fund&#146;s fees and expenses, of an equity index called the Beacon Spin-off Index (the &#147;Spin-off Index&#148; or &#147;Index&#148;).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The Fund seeks investment results that correspond generally to the performance, before the Fund&#146;s fees and expenses, of an equity index called the Sabrient Defensive Equity Index (the &#147;Defensive Equity Index&#148; or &#147;Index&#148;).</p> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The Fund seeks investment results that correspond generally to the performance, before the Fund&#146;s fees and expenses, of an index called the Zacks Mid-Cap Core Index (the &#147;Zacks Mid-Cap Core Index&#148; or the &#147;Index&#148;).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font-size: 8pt">The Fund seeks investment results that correspond generally to the performance, before the Fund&#146;s fees and expenses, of an equity index called the Raymond James SB-1 Equity Index (the &#147;SB-1 Equity Index&#148; or the &#147;Index&#148;).</font></p> <p style="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Fund seeks investment results that correspond generally to the performance, before the Fund&#146;s fees and expenses, of an equity index called the Wilshire 5000 Total Market Index<sup>SM</sup>&#160;(the &#147;Wilshire 5000&#148; or the &#147;Index&#148;).</p> <p style="font: 8pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">The Fund seeks investment results that correspond generally to the performance, before the Fund&#146;s fees and expenses, of an equity index called the Wilshire US Real Estate Investment Trust Index<sup>SM</sup>&#160;(&#147;Wilshire US REIT<sup>SM</sup>&#148; or the &#147;Index&#148;).</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><font style="font: 8pt Times New Roman, Times, Serif">The Fund seeks investment results that correspond generally to the performance, before the Fund&#146;s fees and expenses, of an equity index called the Wilshire 4500 Completion Index<sup>SM</sup>&#160;(the &#147;Wilshire 4500&#148; or the &#147;Index&#148;).</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Fees and Expenses of the Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Fees and Expenses of the Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Fees and Expenses of the Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Fees and Expenses of the Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Fees and Expenses of the Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Fees and Expenses of the Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Fees and Expenses of the Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Fees and Expenses of the Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Fees and Expenses of the Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Fees and Expenses of the Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><b>Fees and Expenses of the Fund</b></p> <p 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There may also be instances in which the Investment Adviser may choose to overweight another security in the Index or purchase (or sell) securities not in the Index which the Investment Adviser believes are appropriate to substitute for one or more Index components in seeking to accurately track the Index. In addition, from time to time securities are added to or removed from the Index. The Fund may sell securities that are represented in the Index or purchase securities that are not yet represented in the Index in anticipation of their removal from or addition to the Index.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Fund, using a low cost &#147;passive&#148; or &#147;indexing&#148; investment approach, seeks to replicate, before the Fund&#146;s fees and expenses, the performance of the Wilshire 4500 (Index Ticker: W4500). 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Preferred stocks rated below investment grade may be issued by companies that are restructuring, are smaller and less creditworthy, or are more highly indebted than other companies. This means that they may have more difficulty making scheduled dividend payments. Changes in the value of preferred stocks rated below investment grade are influenced more by changes in the financial and business position of the issuing company than by changes in interest rates when compared to investment grade preferred stocks.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><i>Non-Correlation Risk.&#160;</i>The Fund&#146;s return may not match the return of the Index for a number of reasons. 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If the Fund utilizes a sampling approach or futures or other derivative positions, or otherwise holds investments other than those which comprise the Index, its return may not correlate as well with the return on the Index, as would be the case if it purchased all of the securities in the Index with the same weightings as the Index.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><i>Concentration Risk.&#160;</i>If the Index concentrates in an industry or group of industries the Fund&#146;s investments will be concentrated accordingly. 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The Fund&#146;s Shares will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective. An investment in the Fund has not been guaranteed, sponsored, recommended, or approved by the United States, or any agency, instrumentality or officer of the United States, has not been insured by the Federal Deposit Insurance Corporation (FDIC) and is not guaranteed by and is not otherwise an obligation of any bank or insured depository institution.</i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"><i>Equity Risk.&#160;</i>The value of the equity securities held by the Fund may fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, or factors relating to specific companies in which the Fund invests. 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In addition, adverse political, economic or social developments could undermine the value of the Fund&#146;s investments or prevent the Fund from realizing the full value of its investments. Financial reporting standards for companies based in foreign markets differ from those in the United States. Finally, to the extent the Fund invests in foreign securities other than ADRs, the value of the currency of the country in which the Fund has invested could decline relative to the value of the U.S. dollar, which may affect the value of the investment to U.S. investors.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"><i>Depositary Receipt Risk.&#160;</i>The Fund may hold the securities of non-U.S. companies in the form of ADRs. 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The underlying securities of the ADRs in the Fund&#146;s portfolio are usually denominated or quoted in currencies other than the U.S. Dollar. As a result, changes in foreign currency exchange rates may affect the value of the Fund&#146;s portfolio. In addition, because the underlying securities of ADRs trade on foreign exchanges at times when the U.S. markets are not open for trading, the value of the securities underlying the ADRs may change materially at times when the U.S. markets are not open for trading, regardless of whether there is an active U.S. market for shares of the Fund.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"><i>Small and Medium-Sized Company Risk.&#160;</i>Investing in securities of small and medium-sized companies involves greater risk than is customarily associated with investing in larger, more established companies. 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In addition, the deterioration of the credit markets since late 2007 generally has caused an adverse impact in a broad range of markets, including U.S. and international credit and interbank money markets generally, thereby affecting a wide range of financial institutions and markets. In particular, events in the financial sector since late 2008 have resulted, and may continue to result, in an unusually high degree of volatility in the financial markets, both domestic and foreign. This situation has created instability in the financial markets and caused certain financial services companies to incur large losses. Numerous financial services companies have experienced substantial declines in the valuations of their assets, taken action to raise capital (such as the issuance of debt or equity securities), or even ceased operations. These actions have caused the securities of many financial services companies to experience a dramatic decline in value. 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The Fund&#146;s year-to-date return was 14.40% as of September 30, 2012.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">During the periods shown in the chart above, the Fund&#146;s highest and lowest calendar quarter returns were 15.31% and -14.70%, respectively, for the quarters ended December 31, 2011 and September 30, 2011. The Fund&#146;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Fund commenced operations on March 9, 2010. The Fund&#146;s year-to-date return was 14.25% as of September 30, 2012.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">During the periods shown in the chart above, the Fund&#146;s highest and lowest calendar quarter returns were 13.22% and -20.61%, respectively, for the quarters ended December 31, 2011 and September 30, 2011. The Fund&#146;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax. Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</p> <p style="font: 7.5pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif; background-color: white">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax. Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax. Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax. Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. 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After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</p> <p style="font: 7.5pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif; background-color: white">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax. Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax. Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. 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After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax. Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. 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margin: 0; text-align: justify; background-color: white">The chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund&#146;s performance from year to year and by showing how the Fund&#146;s average annual returns for one and five years and since inception compare with those of the Index and broad measures of market performance.</p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund&#146;s performance from year to year and by showing how the Fund&#146;s average annual returns for one and five years and since inception compare with those of the Index and broad measures of market performance.</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund&#146;s performance from year to year and by showing how the Fund&#146;s average annual returns for one and five years and since inception compare with those of the Index and broad measures of market performance.</font></p> <p style="margin: 0; 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Updated performance information for the Fund is available at www.guggenheimfunds.com.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">The Fund&#146;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information for the Fund is available at www.guggenheimfunds.com.</p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">The Fund&#146;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Fund&#146;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Fund&#146;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Fund&#146;s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.</p> <p style="font: 7.5pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"><font style="font: 8pt Times New Roman, Times, Serif; background-color: white">guggenheimfunds.com</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.guggenheimfunds.com.</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.guggenheimfunds.com</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.guggenheimfunds.com</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.guggenheimfunds.com</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">www.guggenheimfunds.com</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white">www.guggenheimfunds.com.</p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.guggenheimfunds.com</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.guggenheimfunds.com</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.guggenheimfunds.com</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">www.guggenheimfunds.com</font></p> <p style="font: 7.5pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif; background-color: white">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax.</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax.</p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax.</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax.</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax.</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax.</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">All after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of any state or local tax.</p> <p style="font: 7.5pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif; background-color: white">Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify">Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</font></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white"><font style="font-size: 8pt">Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Your own actual after-tax returns will depend on your tax situation and may differ from what is shown here. After-tax returns are not relevant to investors who hold Shares of the Fund in tax-deferred accounts such as individual retirement accounts (IRAs) or employee-sponsored retirement plans.</p> <p style="margin: 0pt; text-align: justify"></p> <p style="font: 7.5pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif; background-color: white"><i>Investors should consider the following risk factors and special considerations associated with investing in the Fund, which may cause you to lose money.</i></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; background-color: white; text-align: justify"><i>Investors should consider the following risk factors and special considerations associated with investing in the Fund, which may cause you to lose money.</i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><i>Investors should consider the following risk factors and special considerations associated with investing in the Fund, which may cause you to lose money. </i></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investors should consider the following risk factors and special considerations associated with investing in the Fund, which may cause you to lose money.</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>Investors should consider the following risk factors and special considerations associated with investing in the Fund, which may cause you to lose money.</i></font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investors should consider the following risk factors and special considerations associated with investing in the Fund, which may cause you to lose money.</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Investors should consider the following risk factors and special considerations associated with investing in the fund, which may cause you to lose money.</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif"><i>Investors should consider the following risk factors and special considerations associated with investing in the Fund, which may cause you to lose money.</i></font></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><i>Investors should consider the following risk factors and special considerations associated with investing in the Fund, which may cause you to lose money. </i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><i>Investors should consider the following risk factors and special considerations associated with investing in the Fund, which may cause you to lose money. </i></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><i>Investors should consider the following risk factors and special considerations associated with investing in the Fund, which may cause you to lose money. </i></p> 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 2012-09-30 <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s year-to-date return</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s year-to-date return</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s year-to-date return</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s year-to-date return</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s year-to-date return</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s year-to-date return</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s year-to-date return</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s year-to-date return</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s year-to-date return</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s year-to-date return</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s year-to-date return</font></p> 0.0117 0.1319 0.2378 0.1355 0.1719 0.0870 0.1231 0.1122 0.1586 0.1440 0.1425 <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s highest calendar quarter returns</font></p> <p style="margin: 0; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s highest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s highest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s highest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s highest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s highest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s highest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s highest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s highest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s highest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s highest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s lowest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s lowest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s lowest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s lowest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s lowest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s lowest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s lowest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s lowest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s lowest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s lowest calendar quarter returns</font></p> <p style="margin: 0"><font style="font: 8pt Times New Roman, Times, Serif">Fund&#146;s lowest calendar quarter returns</font></p> 0.3679 0.3340 0.2285 0.3717 0.2685 0.1445 0.2108 0.2561 0.1197 0.1531 0.1322 -0.3068 -0.2350 -0.3085 -0.2992 -0.3342 -0.2010 -0.2031 -0.2922 -0.1524 -0.1470 -0.2061 2009-06-30 2009-06-30 2009-06-30 2009-06-30 2009-09-30 2009-06-30 2009-06-30 2009-06-30 2011-12-31 2011-12-31 2011-12-31 2008-12-31 2011-09-30 2008-12-31 2008-12-31 2008-12-31 2008-12-31 2008-12-31 2008-12-31 2011-09-30 2011-09-30 2011-09-30 <p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> <p style="font: 11pt/115% Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt; text-align: justify"><font style="font: 8pt Times New Roman, Times, Serif">(reflects no deduction for fees, expenses or taxes)</font></p> 0.0008 0.0012 0.0002 The Fund has adopted a Distribution and Service (12b-1) Plan pursuant to which the Fund may bear a 12b-1 fee not to exceed 0.25% per annum of the Fund's average daily net assets. However, no such fee is currently paid by the Fund and the Board of Trustees of Claymore Exchange-Traded Fund Trust (the "Trust") has adopted a resolution that no such fee will be paid for at least 12 months from the date of this prospectus. The Fund's Investment Adviser has contractually agreed to reimburse Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding interest expenses, a portion of the Fund's licensing fees, offering costs, brokerage commissions and other trading expenses, taxes and extraordinary expenses such as litigation and other expenses not incurred in the ordinary course of the Fund's business) from exceeding 0.60% of average net assets per year (the "Expense Cap"), at least until December 31, 2015, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees of the Trust (the "Board of Trustees"). To the extent the Fund incurs expenses that are excluded from the Expense Cap, the Fund's expense ratio will exceed the Expense Cap. Acquired fund fees and expenses refer to the Fund's pro rata portion of the management fees and operating expenses of the closed-end funds in which the Fund invests. Since acquired fund fees and expenses are not directly borne by the Fund, they are not reflected in the Fund's financial statements with the result that the information presented in the table will differ from that presented in the Fund's financial highlights. Prior to August 20, 2010, the Fund's underlying index was the Sabrient Stealth Index. As this index ceased publication on August 20, 2010, returns since inception represent returns of the Sabrient Stealth Index until August 20, 2010, and returns of the Wilshire US Micro-Cap Index since August 20, 2010. The Fund's Investment Adviser has contractually agreed to reimburse Fund expenses to the extent necessary to prevent the operating expenses of the Fund (excluding interest expenses, a portion of the Fund's licensing fees, offering costs, brokerage commissions and other trading expenses, taxes and extraordinary expenses such as litigation and other expenses not incurred in the ordinary course of the Fund's business) from exceeding 0.60% of average net assets per year (the "Expense Cap"), at least until December 31, 2015, and prior to such date the Investment Adviser may not terminate the arrangement without the approval of the Board of Trustees of the Trust (the "Board of Trustees"). For a period of five years subsequent to the Fund's commencement of operations, the Investment Adviser may recover from the Fund expenses reimbursed during the prior three years if the Fund's expense ratio, including the recovered expenses, falls below the Expense Cap. To the extent the Fund incurs expenses that are excluded from the Expense Cap, the Fund's expense ratio will exceed the Expense Cap. Acquired fund fees and expenses refer to the Fund's pro rata portion of the management fees and operating expenses of the business development companies in which the Fund invests. Since acquired fund fees and expenses are not directly borne by the Fund, they are not reflected in the Fund's financial statements with the result that the information presented in the table will differ from that presented in the Fund's financial highlights. 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taxes) Wilshire US Micro-Cap IndexSM (reflects no deduction for fees, expenses or taxes) Sabrient Stealth Index/Wilshire US Micro-Cap IndexSM (reflects no deduction for fees, expenses or taxes) Russell 2000 Index (reflects no deduction for fees,expenses or taxes) Wilshire US REIT IndexSM (reflects no deduction for fees, expenses or taxes) FTSE NAREIT Equity REIT Index (reflects no deduction for fees, expenses or taxes) Document And Entity Information Elements Document Type Document Period End Date Registrant Name Central Index Key Amendment Flag Amendment Description Trading Symbol Document Creation Date Document Effective Date Prospectus Date Risk/Return [Heading] Objective [Heading] Objective, Primary [Text Block] Objective, Secondary [Text Block] Expense [Heading] Expense Narrative [Text Block] Shareholder Fees Caption [Text] Shareholder Fees Column [Text] Maximum Cumulative Sales Charge (as a percentage of Offering Price) Maximum Cumulative Sales Charge (as a percentage) Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage) Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage) Redemption Fee (as a percentage of Amount Redeemed) Redemption Fee Exchange Fee (as a percentage of Amount Redeemed) Exchange Fee Maximum Account Fee (as a percentage of Assets) Maximum Account Fee Shareholder Fee, Other Operating Expenses Caption [Text] Operating Expenses Column [Text] Management fees Distribution and service (12b-1) fees Distribution or Similar (Non 12b-1) Fees Component1 Other Expenses Component2 Other Expenses Component3 Other Expenses Other expenses Acquired Fund Fees and Expenses Total annual Fund operating expenses Expense reimbursements Total annual Fund operating expenses after expense reimbursements Fee Waiver or Reimbursement over Assets, Date of Termination Portfolio Turnover [Heading] Portfolio Turnover [Text Block] Portfolio Turnover, Rate Expense Footnotes [Text Block] Expenses Deferred Charges [Text Block] Expenses Range of Exchange Fees [Text Block] Expense Breakpoint Discounts [Text] Expense Breakpoint, Minimum Investment Required [Amount] Expense Exchange Traded Fund Commissions [Text] Expenses Represent Both Master and Feeder [Text] Expenses Explanation of Nonrecurring Account Fee [Text] Other Expenses, New Fund, Based on Estimates [Text] Acquired Fund Fees and Expenses, Based on Estimates [Text] Expenses Other Expenses Had Extraordinary Expenses Been Included [Text] Expenses Restated to Reflect Current [Text] Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] Expense Example [Heading] Expense Example by Year [Heading] Expense Example Narrative [Text Block] Expense Example by, Year, Caption [Text] One Year Three Years Five Years Ten Years Expense Example, No Redemption Narrative [Text Block] Expense Example, No Redemption, By Year, Caption [Text] Expense Example, No Redemption, 1 Year Expense Example, No Redemption, 3 Years Expense Example, No Redemption, 5 Years Expense Example, No Redemption, 10 Years Expense Example Footnotes [Text Block] Expense Example Closing [Text Block] Strategy [Heading] Strategy Narrative [Text Block] Strategy Portfolio Concentration [Text] Risk [Heading] Risk Narrative [Text Block] Risk Footnotes [Text Block] Risk Closing [Text Block] Risk Lose Money [Text] Risk Nondiversified Status [Text] Risk Money Market Fund [Text] Risk Not Insured Depository Institution [Text] Risk Caption Risk Column [Text] Risk [Text] Bar Chart and Performance Table [Heading] Performance Narrative [Text Block] Performance Information Illustrates Variability of Returns [Text] Performance One Year or Less [Text] Performance Additional Market Index [Text] Performance Availability Phone [Text] Performance Availability Website Address [Text] Performance Past Does Not Indicate Future [Text] Bar Chart [Heading] Bar Chart Narrative [Text Block] Bar Chart Does Not Reflect Sales Loads [Text] Annual Return Caption [Text] Annual Return, Column [Text] Annual Return, Inception Date Annual Return 1990 Annual Return 1991 Annual Return 1992 Annual Return 1993 Annual Return 1994 Annual Return 1995 Annual Return 1996 Annual Return 1997 Annual Return 1998 Annual Return 1999 Annual Return 2000 Annual Return 2001 Annual Return 2002 Annual Return 2003 Annual Return 2004 Annual Return 2005 Annual Return 2006 2007 2008 2009 2010 2011 Annual Return 2012 Annual Return 2013 Annual Return 2014 Annual Return 2015 Annual Return 2016 Annual Return 2017 Annual Return 2018 Annual Return 2019 Annual Return 2020 Bar Chart Footnotes [Text Block] Bar Chart Closing [Text Block] Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text] Bar Chart, Returns for Class Not Offered in Prospectus [Text] Year to Date Return, Label Bar Chart, Year to Date Return, Date Bar Chart, Year to Date Return Highest Quarterly Return, Label Highest Quarterly Return, Date Highest Quarterly Return Lowest Quarterly Return, Label Lowest Quarterly Return, Date Lowest Quarterly Return Performance Table Heading Performance Table Does Reflect Sales Loads Performance Table Market Index Changed Index No Deduction for Fees, Expenses, Taxes [Text] Performance Table Uses Highest Federal Rate Performance Table Not Relevant to Tax Deferred Performance Table One Class of after Tax Shown [Text] Performance Table Explanation after Tax Higher Performance Table Narrative Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period [Text] Performance Table Footnotes Performance Table Closing [Text Block] Caption Column Label 1 Year 5 Years 10 Years Since Inception Inception Date Money Market Seven Day Yield, Caption [Text] Money Market Seven Day Yield Column [Text] Money Market Seven Day Yield Phone Money Market Seven Day Yield Money Market Seven Day Tax Equivalent Yield Thirty Day Yield Caption Thirty Day Yield Column [Text] Thirty Day Yield Phone Thirty Day Yield Thirty Day Tax Equivalent Yield Standard & Poor’s Midcap 400 Index (reflects no deduction for fees, expenses or taxes) Standard & Poor’s 500® Index (reflects no deduction for fees, expenses or taxes) Prospectus: [Table] Prospectus [Line Items] Shareholder Fees [Table] Annual Fund Operating Expenses [Table] Expense Example, With Redemption [Table] Expense Example, No Redemption [Table] Bar Chart [Table] Performance [Table] Market Index Performance [Table] Expense Example, By Year, Column [Text] Expense Example, No Redemption, By Year, Column [Text] Risk/Return Detail [Table] C000035086Member C000035087Member C000035088Member C000035090Member C000040013Member C000040015Member C000045532Member C000066993Member C000085365Member C000085366Member C000085367Member Fee Waiver or Reimbursement Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. Custom Element. EX-101.PRE 8 etf-20121227_pre.xml TAXONOMY PRESENTATION