Launched in December of 2006, the Claymore/Clear Spin off (CSD) exchange traded fund (EFT) has been doing well lately. It’s up 24.1% year-to-date. But what exactly is this new EFT?
CSD passively tracks the Clear Spin-off Index that holds 40 securities. It invests 90% of its assets in common U.S. stocks and American depositary receipts (ADRs) that comprise the Spin-off Index. The Spin-off Index is designed to actively represent companies that have "spun-off" from larger companies and outperform the Russell Mid-Cap Growth Index, according to Claymore’s website.
CSD’s top holdings and their weightings are:
- Expedia (EXPE) – 5.4% (Expedia just reduced its buyback plan, and its stock got clocked today.)
- CBS (CBS) – 5.2%
- Wyndham Worldwide (WYN) – 5.2%
- Discovery Holding (DISC) – 5.2%
- Tim Horton’s (THAI) – 5.1%
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Mr. Lydon serves as an independent trustee of certain mutual funds and ETFs that are managed by Guggenheim Investments; however, any opinions or forecasts expressed herein are solely those of Mr. Lydon and not those of Guggenheim Funds, Guggenheim Investments, Guggenheim Specialized Products, LLC or any of their affiliates. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.