A story of firsts

What’s the significance of being first? Claymore strives to deliver “firsts” to the marketplace as a means of helping to enable financial professionals to add unique value to their clients. Claymore’s investment solutions include access to investment strategies, indices, asset classes and asset managers not readily available in retail products. Financial professionals familiar with Claymore over the years have continually introduced a range of “firsts” to their clients. Select a tab above to review our firsts.

Exchange-Traded Funds

Since its entry in the exchange-traded fund business in 2006, Claymore has created an ETF product line representing a variety of style allocations: Large Cap, International/Global, Mid Cap, Rotation, Small Cap, Sector and Growth + Income.

ETF RISK CONSIDERATIONS

There can be no assurance that the Funds will achieve their investment objectives. An investment in the various Claymore ETFs is subject to certain risks and other considerations. Below are some general risks and considerations associated with investing in an ETF. Please refer to the individual ETF prospectus for a more detailed discussion of the Fund-specific risks and considerations.

Investment Risk. An investment in the Funds is subject to investment risk, including the possible loss of the entire principal amount that you invest.

Equity Risk. The risk that the value of the securities held by the Funds will fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities held by the Funds participate, or factors relating to specific companies in which the Funds invest.

Foreign Investment Risk. The Fund's investments in non-U.S. issuers may involve unique risks compared to investing in securities of U.S. issuers, including, among others, greater market volatility than U.S. securities and less complete financial information than for U.S issuers.

China Investment Risk. Investing in securities of Chinese companies involves additional risks, including, but not limited to: the economy of China differs, often unfavorably, from the U.S. economy in such respects as structure, general development, government involvement, wealth distribution, rate of inflation, growth rate, allocation of resources and capital reinvestment, among others; the central government has historically exercised substantial control over virtually every sector of the Chinese economy through administrative regulation and/or state ownership; and actions of the Chinese central and local government authorities continue to have a substantial effect on economic conditions in China. In addition, previously the Chinese government has from time to time taken actions that influence the prices at which certain goods may be sold, encourage companies to invest or concentrate in particular industries, induce mergers between companies in certain industries and induce private companies to publicly offer their securities to increase or continue the rate of economic growth, control the rate of inflation or otherwise regulate economic expansion. From time to time, certain of the companies comprising the Index that are located in China may operate in, or have dealings with, countries subject to sanctions or embargoes imposed by the U.S. government and the United Nations and/or in countries identified by the U.S. government as state sponsors of terrorism.

Emerging Markets Risk. Investing in foreign countries, particularly emerging market countries, entails the risk that news and events unique to a country or region will affect those markets and their issuers. Countries with emerging markets may have relatively unstable governments, may present the risks of nationalization of businesses, restrictions on foreign ownership and prohibitions on the repatriation of assets.

Frontier Markets Risk. Frontier countries generally have smaller economies or less developed capital markets than traditional emerging markets (see emerging markets risk above for definition), and, as a result, the risks of investing in emerging market countries are magnified in frontier countries.

Non-Correlation Risk. The Fund's return may not match the return of the Index for a number of reasons including, but not limited to, operating expenses not applicable to the Index and costs in buying and selling securities to reflect changes in the composition of the Index. Additionally, the Fund may not be fully invested at times, either as a result of cash flows into the Fund or reserves of cash held by the Fund to meet redemptions and expenses. If the Fund utilizes a sampling approach or futures or other derivative positions, its return may not correlate as well with the return on the Index, as would be the case if it purchased all of the stocks in the Index with the same weightings as the Index.

Micro-Cap, Small and Medium-Sized Company Risk. Investing in securities of micro-cap, small and medium-sized companies involves greater risk than is customarily associated with investing in more established companies. These companies' stocks may be more volatile and less liquid than those of more established companies.

Replication Management Risk. Unlike many investment companies, the funds are not “actively” managed. Therefore, it would not necessarily sell a stock because the stock's issuer was in financial trouble unless that stock is removed from the index.

Issuer-Specific Changes. The value of an individual security or particular type of security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. The value of securities of smaller issuers can be more volatile than that of larger issuers.

Non-Diversified Fund Risk. The Funds are considered non-diversified and can invest a greater portion of assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single investment could cause greater fluctuations in share price than would occur in a diversified fund.

The Fund issue and redeem shares at NAV only in large blocks of varying amounts of shares (each block of shares is called a “Creation Unit”), or multiples thereof. Only broker-dealers or large institutional investors with creation and redemption agreements, called Authorized Participants (“APs”), can purchase or redeem these Creation Units. Creation Unit size varies depending on the ETF. Please see the individual ETF prospectus for more information. The investors buying or selling ETF shares on the secondary market may incur brokerage costs and other transactional fees. Shares of ETFs may fluctuate in price due to daily changes in trading volume. At times, shares may not have a high volume of trading. Except when aggregated in Creation Units, Shares are not redeemable securities of the Funds.

No index provider guarantees the quality, accuracy and/or the completeness of the index or any data included therein. No index provider makes any warranty, express or implied, as to results to be obtained by licensee, owners of the product, or any other person or entity from the use of the index or any data included therein in connection with the rights licensed hereunder or for any other use. No index provider makes any express or implied warranties, and hereby expressly disclaims all warranties of merchantability or fitness for a particular purpose or use with respect to the index or any data included therein. Without limiting any of the foregoing, in no event shall any index provider have any liability for any special, punitive, indirect, or consequential damages (including lost profits), even if notified of the possibility of such damages.

The individual index providers determine, compose and calculate the index without regard for the respective products. The products are not sponsored, endorsed, sold or promoted by any index provider. The index providers have no obligation or liability regarding the administration, marketing or trading of the products, and make no representation or warranty to the owners of the product, or to any member of the public, regarding investing in securities generally or in the products particularly.

Standard & Poor's® and S&P® are registered trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Claymore Securities, Inc. The Claymore S&P Global Water Index ETF (“CGW”) is not sponsored, endorsed, sold or promoted by S&P and S&P makes no representation, warranty or condition regarding the advisability of investing in CGW.

Claymore Advisors, LLC, an affiliate of Claymore Securities, inc., is the investment advisor for Claymore ETFs.

Unit Investment Trusts

Claymore Securities, Inc. offers more than 50 Unit Investment Trusts solutions contained in a variety of asset classes: Equity, Municipal CEF, Income, Multi-asset and International.

UIT RISK CONSIDERATIONS

Each of the following UITs invests in various types of securities, which may include common stocks, preferred securities, Real Estate Investment Trusts (“REITs”), convertible securities, senior loans, high-yield bonds, municipal closed-end funds, REIT closed-end funds, mortgage-backed securities, investment-grade corporate bonds, equity closed-end funds, income closed end funds, international equity securities and/or American Depositary Receipts (“ADRs”) and covered-call closed-end funds. In addition, the securities may be further classified by market capitalization, industry sector, investment style and issuer's country of origin. An investment in a particular trust should be made with an understanding of the risks associated with its respective underlying securities. Please see each Trust's prospectus for more complete risk information specific to each trust. There is no guarantee that any given Trust will achieve its investment objective. Investors should consider an investment in successive portfolios at the applicable sales charges, if available.

Share prices or dividend rates on the stocks may decline during the life of the Trust. There is no guarantee that the issuer of the stocks will declare dividends in the future and if declared, whether they will remain at current levels or increase over time.

You can lose money by investing in these Trusts. The Trusts might not perform as well as you expect.

Share prices can be volatile. The value of your investment may fall over time.

The financial condition of an issuer may worsen or its credit ratings may drop, resulting in a reduction in the value of your units. This may occur at any point in time, including during the primary offering period. Inflation may decrease the value of money. Inflation may lead to a decrease in the value of assets or income from investments.

The Sponsor does not actively manage these portfolios. The Trusts will generally hold, and may continue to buy, the same securities even though the security's outlook, rating, market value or yield may have changed.

UITs are fixed and not actively managed. You can lose money by investing in these Trusts. An investment in these fixed portfolios should be made with an understanding of the risks involved with owning various types of investments. Industry predictions may not materialize and securities selected for the Trusts may not participate in overall industry growth, if any. There is no guarantee that these portfolios will achieve their investment objectives. The economic condition of the issuers of the securities in these portfolios as well as the stock market, in general, may worsen and therefore reduce the value of the units of the portfolio.

These UITs are long-term strategies, and investors should consider their ability to invest in successive portfolios at the applicable sales charges, if available. There are tax consequences associated with an investment from one series to the next. Investors should consult their tax advisor to determine tax consequences associated with an investment from one portfolio to the next. Units of certain portfolios may be well suited for purchase by Individual Retirement Accounts or other qualified retirement plans. Consult your attorney or tax advisor regarding tax consequences associated with units held outside one of these tax-deferred vehicles. Claymore Securities, Inc. does not offer tax advice.

Closed-End Funds

CLOSED-END FUND RISK

There can be no assurance that any closed-end fund will achieve its investment objective(s). Past performance does not guarantee future results. The value of any closed-end fund will fluctuate with the value of the underlying securities. Until the original listing of a closed-end fund on an exchange, no closed-end fund's shares will have a history of public trading and, historically closed-end funds often trade at a discount to their net asset value.

Indices

CEF INDEX RISK

The Claymore CEF Index^SM (“Index”) is a 100% rules-based index that is designed to track the performance of a weighted basket of closed-end funds selected based on liquidity, income distribution and market valuation, among other factors. The Index follows a modified liquidity weighting methodology developed by Claymore Securities, Inc., and the reconstitution and rebalancing takes place every 367 days. The distributions garnered from the underlying component funds are not reinvested into the Index components — the notional shares of the underlying funds will not be increased due to dividends or capital gains distribution. Distributions from each underlying fund are added to the Index value as of the close of business on the applicable ex-dividend dates, and the distributions accumulated are subtracted from the Index value quarterly.

Claymore Securities, Inc. is the owner of, and has a trademark application pending for, Claymore CEF Index^SM in the United States. Claymore makes no representation or warranty, express or implied, regarding the ability of the Index to track general market performance. Claymore shall not be liable to any person for any error in the Index nor shall it be under any obligation to advise any person of any error there in. Certain Claymore CEF Index constituents may be closed-end funds advised by Claymore Advisors, LLC, an affiliate of Claymore Securities, Inc. Claymore Advisors, LLC, receives an advisory fee from such closed-end funds as investment adviser. Claymore Securities, Inc. may act as a servicing agent for certain closed-end funds included in the Claymore CEF Index and receives fees for this activity. The Claymore CEF Index is calculated by Dow Jones Indexes. Investment products based on the Claymore CEF Index, are not sponsored, endorsed, sold or promoted by Dow Jones Indexes, and Dow Jones Indexes makes no representation regarding the advisability of investing in such products.