CLAYMORE EXCHANGE-TRADED FUND TRUST

Guggenheim BulletShares 2017 Corporate Bond ETF

Guggenheim BulletShares 2017 High Yield Corporate Bond ETF

(each a “Fund,” and together, the “Funds”)

Supplement to the Funds’ Summary Prospectuses, Prospectus and Statement of Additional Information dated September 28, 2017, as supplemented

Effective December 29, 2017, the Funds, each a separate series of the Claymore Exchange-Traded Fund Trust (the “Trust”), will be closed to new investments.  In accordance with the principal investment strategies of each Fund, the Funds will be terminated on December 29, 2017 without requiring additional approval by the Trust’s Board of Trustees or the Funds’ shareholders.  In connection with such termination, each Fund will make a cash distribution of its net assets to its respective remaining shareholders of record on December 29, 2017 after making appropriate provisions for any liabilities of the Fund, which will include any capital gains and dividends as of that date.  Guggenheim Funds Investment Advisors, LLC, each Fund’s investment adviser, may waive some or all of either Fund’s investment advisory fees so as to ensure that no Fund will have a negative yield during the termination period.  December 28, 2017 will be the last day of trading in each Fund on the NYSE Arca, Inc. (the “NYSE Arca”).  The NYSE Arca will halt trading in each Fund before the open of trading on December 29, 2017.

Shareholders can call 1-888-949-3837 for additional information.

Claymore Exchange-Traded Fund Trust

227 West Monroe Street

Chicago, Illinois 60606

Please Retain This Supplement for Future Reference

December 28, 2017 BULLETS-COMBO-SUP5