FUND OVERVIEW

The Guggenheim Enhanced Short Duration ETF* (NYSE: GSY), seeks maximum current income, consistent with preservation of capital and daily liquidity. The Fund will invest at least 80% of its net assets in fixed-income securities.

The Fund uses a low duration strategy to seek to outperform the Barclays Capital 1-3 Month U.S. Treasury Bill Index in addition to providing returns in excess of those available in U.S. Treasury bills, government repurchase agreements, and money market funds, while seeking to provide preservation of capital and daily liquidity. The Fund is not a money market fund and thus does not seek to maintain a stable net asset value of $1.00 per share. The Fund expects, under normal circumstances, to hold a diversified portfolio of fixed-income instruments of varying maturities, but that have an average duration of less than 1 year.

The Fund primarily invests in U.S. dollar-denominated investment grade debt securities, including U.S. Treasury securities and corporate bonds, rated Baa3 or higher by Moodys Investors Service, Inc. also referred to as Moodys, or equivalently rated by Standard & Poors Rating Group, also known as S&P, or Fitch Investor Services, also known as Fitch, or, if unrated, determined by the Investment Adviser to be of comparable quality. The Fund may invest no more than 10% of its assets in high yield securities, also referred to as junk bonds, which are debt securities that are rated below investment grade by nationally recognized statistical rating organizations, or are unrated securities that the Investment Adviser believes are of comparable quality.

The Fund may also invest up to 10% of its assets in sovereign and corporate debt securities denominated in foreign currencies. The Fund may also invest up to 25% of its assets in municipal securities. The Fund will not invest in options contracts, futures contracts or swap agreements. The Fund may invest up to 10% of its assets in mortgage-backed securities or in other asset-backed securities.

Prior to June 1, 2011, this Fund was passively managed as an index-based ETF. This Fund now operates as an actively managed ETF, combining the portfolio management expertise of an actively managed strategy with the transparency of the ETF structure.

*On September 27, 2013, Guggenheim Enhanced Short Duration Bond ETF changed its name to Guggenheim Enhanced Short Duration ETF. Prior to December 5, 2011, the Funds name was Guggenheim Enhanced Ultra-Short Bond ETF. Prior to June 1, 2011, the Funds name was Claymore U.S. Capital Markets Micro-Term Fixed Income ETF and the Fund sought to replicate an index called The Capital Markets Liquidity Index℠.