The California Municipal Portfolio of CEFs, Series 51 ("Trust") seeks to provide current income and the potential for capital appreciation.
Offer Price | $9.7021 |
Wrap Fee Price | $9.4853 |
Liquidation Price | $9.4853 |
Remaining Deferred Sales Charge | $0.2250 |
Cash | 40178F207 |
Reinvest | 40178F306 |
Fee/Cash | 40178F405 |
Fee/Reinvest | 40178F504 |
Per Unit | $0.4368 |
Rate | 4.50% |
Rate Fee Based | 4.61% |
* The Historical Annual Dividend Distribution (HADD) is as of the day prior to trust deposit and subject to change. There is no guarantee the issuers of the securities included in the Trust will declare dividends or distributions in the future. The HADD of the securities included in the Trust is for illustrative purposes only and is not indicative of the Trust’s distribution rate. The HADD is the weighted average of the trailing twelve-month distributions paid by the securities included in the portfolio and is reduced to account for the effects of fees and expenses, which will be incurred when investing in the Trust. The HADD will vary due to certain factors that may include, but are not limited to, a change in the dividends paid by issuers, a change in Trust expenses or the sale or maturity of securities in the portfolio.
All data is subject to change daily. Data may differ from the prospectus due to different data sources or market changes. Please refer to prospectus for additional information about the trust including the portfolio section criteria. Source: FactSet Research Systems Inc. unless otherwise noted. The total percentages may not be equal to 100% due to rounding. N/A indicates that certain securities have not been identified and/or classified by the data provider. A unit is a combination of securities or types of securities traded together.
Closed-End Fund | 69.21% |
Exchange Traded Fund | 30.79% |
Total | 100.00% |
Weighted Average Leverage Ratio** | 25.85% |
** The Total value of the fund’s outstanding leverage presented as a percentage of total assets.
Example: Percentage of Total Assets represented by leverage.(e.g., Total Assets = $200M; Net Assets = $160M; Leverage = $40M. Leverage = 20%, calculated by dividing $40M by $200M.)
Trust Weighted Average | -10.24% |
Closed-End Fund ("CEF") Universe Average | -3.08% |
High (12/11/24) | -7.72% |
Low (12/23/24) | -10.24% |
Average | -8.89% |
* Closed-end funds may trade at a premium or discount to their net asset value (“NAV”). The Premium/Discount shown is for the underlying securities held by the closed-end funds in the UIT. This is the weighted average of all the CEFs in portfolio.
Municipal-CA | 54.59% |
Municipal | 14.62% |
Total | 69.21% |
Premium/Discount and Holdings Analysis data is provided by Morningstar Traded Fund Center. Data is subject to change on a nightly basis. The data is for the underlying securities held by the closed-end funds in the UIT. The total percentages may not be equal to 100% due to rounding. N/A indicates that certain securities have not been identified and/or classified by the data provider.
Muni California Long | 30.79% |
Total | 30.79% |
Holdings Analysis data is provided by Morningstar Traded Fund Center. Data is subject to change on a nightly basis. The data is for the underlying securities held by the exchange traded funds in the UIT. The total percentages may not be equal to 100% due to rounding.
The Closed-End Fund (“CEF”) Universe is comprised of all CEFs currently listed on U.S. exchanges.
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Past performance is no guarantee of future results. Investment returns and principal value will fluctuate with changes in market conditions. Investors' units, when redeemed, may be worth more or less than their original cost.
Principal Investment Strategy
Under normal circumstances, the trust will invest at least 80% of the value of its assets in closed-end investment companies (“Closed-End Funds”) and shares of exchange-traded funds (“ETFs”) that invest substantially all of their assets in California municipal bonds, the income from which is exempt from regular federal and California state income taxes. The trust contains common shares of Closed-End Funds and ETFs, the majority of which contain portfolios that invest substantially all of their assets in California municipal bonds, which are rated investment-grade by at least one nationally recognized statistical rating organization.
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Selection CriteriaThe sponsor has selected for the portfolio Closed-End Funds believed to have the best potential to achieve the trust’s investment objective. The trust seeks to provide monthly income that is exempt from federal and California state income taxes by investing in Closed-End Funds that invest in California municipal bonds. However, the trust may invest up to 20% of the value of its assets in Closed-End Funds that invest substantially all of their assets in municipal bonds that are exempt from regular federal income tax but not from California state income tax. Municipal bonds generally offer investors the potential for stable tax-free income. However, a portion of the income may be subject to the federal alternative minimum tax on individuals as well as federal, state and local taxes. For tax years beginning after December 31, 2022, exempt-interest dividends may affect the corporate alternative minimum tax for certain corporations. When selecting Closed-End Funds for inclusion in this portfolio the sponsor looks at numerous factors. These factors include, but are not limited to:
The sponsor has selected for the portfolio ETFs believed to have the best potential to achieve the trust’s investment objective. The trust seeks to provide monthly income that is exempt from federal and California state income taxes by investing in ETFs that invest in California municipal bonds. Municipal bonds generally offer investors the potential for stable tax-free income. However, a portion of the income may be subject to the federal alternative minimum tax on individuals as well as federal, state and local taxes. For tax years beginning after December 31, 2022, exempt-interest dividends may affect the corporate alternative minimum tax for certain corporations. The sponsor will seek to select ETFs for inclusion in the trust portfolio that invests substantially all of their assets in California municipal bonds. When selecting the ETFs the sponsor looks at numerous factors. These factors include, but are not limited to:
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Risks and Other Considerations
As with all investments, you may lose some or all of your investment in the trust. No assurance can be given that the trust’s investment objective will be achieved. The trust also might not perform as well as you expect. This can happen for reasons such as these:
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Please see the Trust prospectus for more complete risk information.
Unit Investment Trusts are fixed, not actively managed and should be considered as part of a long-term strategy. Investors should consider their ability to invest in successive portfolios, if available, at the applicable sales charge. UITs are subject to annual fund operating expenses in addition to the sales charge. Investors should consult an attorney or tax advisor regarding tax consequences associated with an investment from one series to the next, if available, and with the purchase or sale of units. Guggenheim Funds Distributors, LLC does not offer tax advice.
Read a prospectus and summary prospectus (if available) carefully before investing. It contains the investment objective, risks charges, expenses and the other information, which should be considered carefully before investing. To obtain a prospectus and summary prospectus (if available) click here or call 800.820.0888.
Investing involves risk, including the possible loss of principal.
Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Wealth Solutions, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, and GS GAMMA Advisors, LLC. Securities offered through Guggenheim Funds Distributors, LLC.
© 2024 Guggenheim Investments. All Rights Reserved.
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• Not FDIC Insured • No Bank Guarantee • May Lose Value
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