Rydex ETFs To Get Guggenheim Name

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Guggenheim Investments, the Lisle, Illinois based owner of Rydex, is finally putting its name on 27 Rydex funds effective March 1, in the latest chapter of an acquisition that began in 2010. The rebranding will leave all of the fund tickers unchanged.

However, Rydex's 10 CurrencyShares ETFs won't be part of the latest name change, and will for now continue to operate with the CurrencyShares name, Guggenheim officials told IndexUniverse. Still, the CurrencyShares ETFs will one day carry the Guggenheim name, the officials said. They didn't specify when.

The rebranding just about completes money manager Guggenheim's arrival in the world of ETFs, which began with its acquisition of Claymore Investments in 2009. Guggenheim is the No. 8 U.S. ETF company, with almost $12 billion in assets-a figure that includes of the legacy funds from Rydex and Claymore, as well as the CurrencyShares ETFs.

In a separate but related development, Guggenheim said it planned to shutter eight funds on March 23 that hadn't gained enough traction with investors to justify their continued operation. Six of the funds have the Guggenheim name and two are CurrencyShares ETFs.

The fund closings and the rebranding of Rydex's ETFs are connected to the extent that they both represent a tidying up as Guggenheim begins to focus on developing its U.S. money-management business, which includes mutual funds, ETFs, closed-end funds and unit investment trusts.

The planned sale of its Canadian ETF unit last year also reflected that goal of focusing on its U.S. business.

According to an e-mail communique from Arca, the New York Stock Exchange's electronic trading platform, the funds involved in the rebranding and their new names as of March 1 are:

  • Rydex MSCI ACWI EQUAL WEIGHT ETF (NYSEArca:EWAC) toGuggenheim MSCI ACWI Equal Weight ETF
  • Rydex MSCI EAFE Equal Weight ETF (NYSEArca:EWEF) toGuggenheim MSCI EAFE Equal Weight ETF
  • Rydex MSCI Emerging Markets Equal Weight ETF (NYSEArca:EWEM) to Guggenheim MSCI Emerging Markets Equal Weight ETF
  • Rydex S&P MidCap 400 Equal Weight ETF (NYSEArca:EWMD) to Guggenheim S&P MidCap 400 Equal Weight ETF
  • Rydex Russell 1000 Equal Weight ETF (NYSEArca:EWRI) to Guggenheim Russell 1000 Equal Weight ETF
  • Rydex Russell MidCap Equal Weight ETF (NYSEArca:EWRM) to Guggenheim Russell MidCap Equal Weight ETF
  • Rydex Russell 2000 Equal Weight ETF (NYSEArca:EWRS) to Guggenheim Russell 2000 Equal Weight ETF
  • Rydex S&P SmallCap 600 Equal Weight ETF (NYSEArca:EWSM) to Guggenheim S&P SmallCap 600 Equal Weight ETF
  • Rydex S&P 500 Equal Weight Consumer Discretionary ETF (NYSEArca:RCD) to Guggenheim S&P 500 Equal Weight Consumer Discretionary ETF
  • Rydex S&P Midcap 400 Pure Growth ETF (NYSEArca:RFG) to Guggenheim S&P Midcap 400 Pure Growth ETF
  • Rydex S&P Midcap 400 Pure Value ETF (NYSEArca:RFV) to Guggenheim S&P Midcap 400 Pure Value ETF
  • Rydex S&P 500 Equal Weight Industrials ETF (NYSEArca:RGI) to Guggenheim S&P 500 Equal Weight Industrials ETF
  • Rydex S&P 500 Equal Weight Consumer Staples ETF (NYSEArca:RHS) to Guggenheim S&P 500 Equal Weight Consumer Staples ETF
  • Rydex S&P 500 Pure Growth ETF(NYSEArca:RPG) to Guggenheim S&P 500 Pure Growth ETF
  • Rydex S&P 500 Pure Value ETF (NYSEArca:RPV) to Guggenheim S&P 500 Pure Value ETF
  • Rydex S&P 500 Equal Weight ETF (NYSEArca:RSP) to Guggenheim S&P 500 Equal Weight ETF
  • Rydex 2x S&P 500 ETF (NYSEArca:RSU) to Guggenheim 2x S&P 500 ETF
  • Rydex S&P 500 Equal Weight Materials ETF (NYSEArca:RTM) to Guggenheim S&P 500 Equal Weight Materials ETF.
  • Rydex S&P 500 Equal Weight Energy ETF (NYSEArca:RYE) to Guggenheim S&P 500 Equal Weight Energy ETF.
  • Rydex S&P 500 Equal Weight Financials ETF (NYSEArca:RYF) to Guggenheim S&P 500 Equal Weight Financials ETF.
  • Rydex S&P 500 Equal Weight Healthcare ETF (NYSEArca:RYH) to Guggenheim S&P 500 Equal Weight Healthcare ETF.
  • Rydex S&P 500 Equal Weight Technology ETF (NYSEArca:RYT) to Guggenheim S&P 500 Equal Weight Technology ETF.
  • Rydex S&P 500 Equal Weight Utilities ETF (NYSEArca:RYU) to Guggenheim S&P 500 Equal Weight Utilities ETF
  • Rydex S&P Smallcap 600 Pure Growth ETF (NYSEArca:RZG) to Guggenheim S&P Smallcap 600 Pure Growth ETF.
  • Rydex S&P Smallcap 600 Pure Value ETF (NYSEArca:RZV) to Guggenheim S&P Smallcap 600 Pure Value ETF.
  • Rydex Russell Top 50 ETF (NYSEArca:XLG) to Guggenheim Russell Top 50 ETF.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , ETFs

Referenced Stocks: RCD , RPG , RPV , RSU , XLG

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