When it comes to exchange traded funds (ETFs), what’s in a name, index and investment strategy?
We’ll soon find out. The Claymore/BBD High Income Index ETF (LVL) is officially changing its name as of Sept. 30, 2008. It will become the Claymore/S&P Global Dividend Opportunities Index ETF, and will change the index it tracks, along with the investment strategy, reports Centre Daily.
Claymore’s ETF will say farewell to the Benchmarks By Design High Income Index, and will instead seek results that correspond to the S&P Global Dividend Opportunities Index.
The fund will invest 90% of its assets into common stocks and ADRs listed on national exchanges and that offer high dividend yields, chosen from a pool of stocks that are listed on the exchanges of the countries included in the S&P/Citigroup Broad Market Index.
The dividend distribution will change from monthly to quarterly, as well.
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.