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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$24.34

$6.44 B

5.38%

$1.31

1.69%

Vitals

YTD Return

2.0%

1 yr return

8.5%

3 Yr Avg Return

1.0%

5 Yr Avg Return

3.0%

Net Assets

$6.44 B

Holdings in Top 10

15.7%

52 WEEK LOW AND HIGH

$24.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.69%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 84.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$24.34

$6.44 B

5.38%

$1.31

1.69%

GIOPX - Profile

Distributions

  • YTD Total Return 2.0%
  • 3 Yr Annualized Total Return 1.0%
  • 5 Yr Annualized Total Return 3.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.33%
DIVIDENDS
  • Dividend Yield 5.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Guggenheim Macro Opportunities Fund
  • Fund Family Name
    Guggenheim
  • Inception Date
    May 01, 2015
  • Shares Outstanding
    N/A
  • Share Class
    P
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Anne Walsh

Fund Description

The Fund will seek to achieve its investment objective by investing in a wide range of fixed-income and other debt and equity securities selected from a variety of sectors and credit qualities, principally corporate bonds, syndicated bank loans and other direct lending opportunities, participations in and assignments of syndicated bank loans (including senior floating rate loans), asset-backed securities (including agency and non-agency residential and commercial mortgage-backed securities, collateralized mortgage obligations and other structured finance investments), U.S. government and agency securities (including those not backed by the full faith and credit of the U.S. government), sovereign debt securities, Eurodollar bonds and obligations, mezzanine and preferred securities, commercial paper, zero-coupon bonds, municipal securities, non-registered or restricted securities (consisting of securities originally issued in reliance on Rule 144A and Regulation S), step-up securities (such as step-up bonds) and convertible securities, and in common stocks and other equity investments that Guggenheim Partners Investment Management, LLC, also known as Guggenheim Investments (the “Investment Manager”), believes offer attractive yield and/or capital appreciation potential. The Investment Manager may employ a strategy of writing (selling) covered call and put options on such equity securities.While the Fund will principally invest in securities listed, traded or dealt in developed markets countries globally, it may also invest without limitation in securities listed, traded or dealt in other countries, including emerging markets countries. Such securities may be denominated in foreign currencies. The Fund may hold securities of any duration or maturity. Securities in which the Fund may invest may pay fixed or variable rates of interest. The Fund may invest in a variety of investment vehicles, principally closed-end funds, exchange-traded funds (“ETFs”) and other mutual funds.The Fund may also invest in commodities (such as precious metals), commodity-linked notes and other commodity-linked derivative instruments, such as swaps, options, or forward contracts based on the value of commodities or commodities indices and commodity futures. The Fund may gain exposure to such commodity instruments by investing a portion of the Fund’s total assets in a wholly-owned subsidiary, which is organized as a limited company under the laws of the Cayman Islands (the “Subsidiary”). The Subsidiary primarily obtains its commodities exposure by investing in commodities, commodity-linked notes, and commodity-linked derivative instruments. The Subsidiary’s investments in such instruments are subject to limits on leverage imposed by the Investment Company Act of 1940 (“1940 Act”). The Fund must maintain no more than 25% of its total assets in the Subsidiary at the end of every quarter of its taxable year.The Fund may use leverage to the extent permitted by applicable law by entering into reverse repurchase agreements and transactions equivalent to a borrowing for investment purposes. The Fund also may invest or engage in collateralized debt obligations (“CDOs”) (which include collateralized bond obligations, collateralized loan obligations and other similarly structured instruments), repurchase agreements, forward commitments, short sales and securities lending and it may seek exposures through derivative transactions, including: foreign exchange forward contracts; futures on securities, indices, currencies and other investments; Eurodollar futures; options; interest rate swaps; cross-currency swaps; total return swaps; credit default swaps; and other foreign currency contracts and foreign currency-related transactions. These investments and transactions may create economic leverage in the Fund and these investments may be traded in the over-the-counter market. The Fund may engage, without limit, in derivative and foreign currency-related transactions for speculative purposes to enhance total return, to seek to hedge against fluctuations in securities prices, interest rates or currency rates, to change the effective duration of its portfolio, to manage certain investment risks, as a substitute for the purchase or sale of securities or currencies and/or to obtain or replicate market exposure. The Fund may also, without limitation, seek to obtain exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as “To Be Announced” (“TBA”) transactions and dollar rolls).Unconstrained to a benchmark, the Fund has the flexibility to invest across a broad array of fixed-income investments. The Fund may also opportunistically allocate to other asset classes to seek to enhance return and/or mitigate risk. The Investment Manager will use a relative value-based investment philosophy, which utilizes quantitative and qualitative analysis to seek to identify securities or spreads between securities that deviate from their perceived fair value and/or historical norms. The Investment Manager seeks to combine a credit managed fixed-income portfolio with access to a diversified pool of alternative investments and equity strategies. The Investment Manager’s investment philosophy is predicated upon the belief that thorough research and independent thought are rewarded with performance that has the potential to outperform benchmark indexes with both lower volatility and lower correlation of returns as compared to such benchmark indexes.The Investment Manager may determine to sell a security for several reasons, including but not limited to the following: (1) to adjust the portfolio’s average maturity or duration, or to shift assets into or out of higher-yielding securities; (2) if a security’s credit rating has been changed, the Investment Manager's credit outlook has changed, or for other similar reasons; (3) to meet redemption requests; (4) to take gains; or (5) due to relative value. The Fund may hold, without limit, fixed-income securities of any quality, rated or unrated, including those that are rated below investment grade, or, if unrated, determined to be of comparable quality (also known as “high yield securities” or “junk bonds”) and defaulted securities. If nationally recognized statistical rating organizations assign different ratings to the same security, the Fund will use the higher rating for purposes of determining the security’s credit quality. Under adverse or unstable market conditions or abnormal circumstances (for example, in the event of credit events, where it is deemed opportune to preserve gains, or to preserve the relative value of investments or in the case of large cash inflows or anticipated large redemptions), the Fund can make temporary investments and may not be able to pursue or achieve its investment objective.
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GIOPX - Performance

Return Ranking - Trailing

Period GIOPX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -6.5% 5.7% 19.17%
1 Yr 8.5% -9.3% 24.0% 33.85%
3 Yr 1.0%* -16.7% 18.1% 33.33%
5 Yr 3.0%* -13.0% 15.2% 24.95%
10 Yr N/A* -13.4% 6.7% 15.66%

* Annualized

Return Ranking - Calendar

Period GIOPX Return Category Return Low Category Return High Rank in Category (%)
2023 2.7% -12.0% 15.7% 53.09%
2022 -12.8% -31.8% 18.4% 46.84%
2021 -1.4% -26.6% 25.7% 46.57%
2020 6.8% -49.2% 18.7% 7.77%
2019 -1.0% -35.1% 15.3% 96.19%

Total Return Ranking - Trailing

Period GIOPX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.0% -6.5% 5.7% 19.17%
1 Yr 8.5% -9.3% 24.0% 33.85%
3 Yr 1.0%* -16.7% 18.1% 33.33%
5 Yr 3.0%* -13.0% 15.2% 24.95%
10 Yr N/A* -13.4% 6.7% 15.38%

* Annualized

Total Return Ranking - Calendar

Period GIOPX Return Category Return Low Category Return High Rank in Category (%)
2023 9.8% -7.0% 22.2% 22.69%
2022 -8.6% -31.8% 21.1% 47.94%
2021 2.5% -13.5% 49.9% 43.14%
2020 11.3% -28.6% 24.1% 5.30%
2019 1.8% -4.8% 19.1% 96.57%

NAV & Total Return History


GIOPX - Holdings

Concentration Analysis

GIOPX Category Low Category High GIOPX % Rank
Net Assets 6.44 B 2.32 M 127 B 11.47%
Number of Holdings 771 2 10577 32.93%
Net Assets in Top 10 952 M -1.57 B 65.8 B 16.08%
Weighting of Top 10 15.67% 0.7% 170.6% 83.02%

Top 10 Holdings

  1. U.S. Treasury Bills 2.32%
  2. U.S. Treasury Bills 2.14%
  3. Guggenheim Limited Duration Fund - R6-Class 2.08%
  4. Federal Home Loan Bank 2.05%
  5. Federated Hermes U.S. Treasury Cash Reserves Fund - Institutional Shares 1.84%
  6. Fannie Mae 1.81%
  7. U.S. Treasury Bills 0.99%
  8. Freddie Mac 0.94%
  9. Guggenheim Ultra Short Duration Fund - Institutional Class 0.82%
  10. VanEck Gold Miners ETF 0.67%

Asset Allocation

Weighting Return Low Return High GIOPX % Rank
Bonds
66.73% -150.81% 203.29% 79.36%
Other
20.97% -72.32% 100.00% 10.02%
Stocks
5.66% -1.60% 99.88% 21.55%
Preferred Stocks
4.88% 0.00% 30.46% 3.03%
Cash
2.14% -94.66% 258.91% 63.13%
Convertible Bonds
0.37% 0.00% 33.50% 70.09%

Stock Sector Breakdown

Weighting Return Low Return High GIOPX % Rank
Financial Services
60.93% 0.00% 100.00% 12.08%
Real Estate
20.47% 0.00% 100.00% 12.36%
Basic Materials
10.89% 0.00% 100.00% 11.80%
Technology
2.86% 0.00% 28.30% 28.65%
Consumer Cyclical
1.86% 0.00% 89.95% 39.89%
Healthcare
0.93% 0.00% 18.60% 29.21%
Industrials
0.75% 0.00% 100.00% 43.54%
Utilities
0.57% 0.00% 100.00% 41.29%
Consumer Defense
0.28% 0.00% 99.97% 32.30%
Communication Services
0.24% 0.00% 100.00% 41.29%
Energy
0.23% 0.00% 100.00% 70.51%

Stock Geographic Breakdown

Weighting Return Low Return High GIOPX % Rank
US
5.66% -1.47% 99.88% 20.94%
Non US
0.01% -0.13% 17.73% 17.75%

Bond Sector Breakdown

Weighting Return Low Return High GIOPX % Rank
Corporate
64.68% 0.00% 96.66% 17.06%
Securitized
22.27% 0.00% 99.65% 38.50%
Cash & Equivalents
2.14% 0.00% 88.14% 53.12%
Government
0.92% 0.00% 99.43% 80.91%
Municipal
0.01% 0.00% 54.26% 38.03%
Derivative
-0.26% -72.32% 37.37% 73.52%

Bond Geographic Breakdown

Weighting Return Low Return High GIOPX % Rank
US
63.87% -151.11% 203.29% 69.95%
Non US
2.86% 0.00% 67.77% 45.07%

GIOPX - Expenses

Operational Fees

GIOPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.69% 0.01% 20.67% 28.74%
Management Fee 0.89% 0.00% 2.29% 76.96%
12b-1 Fee 0.25% 0.00% 1.00% 26.12%
Administrative Fee N/A 0.00% 0.70% 42.18%

Sales Fees

GIOPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

GIOPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

GIOPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 84.00% 0.00% 632.00% 54.95%

GIOPX - Distributions

Dividend Yield Analysis

GIOPX Category Low Category High GIOPX % Rank
Dividend Yield 5.38% 0.00% 18.15% 20.60%

Dividend Distribution Analysis

GIOPX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Quarterly

Net Income Ratio Analysis

GIOPX Category Low Category High GIOPX % Rank
Net Income Ratio 3.33% -1.55% 11.51% 36.06%

Capital Gain Distribution Analysis

GIOPX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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GIOPX - Fund Manager Analysis

Managers

Anne Walsh


Start Date

Tenure

Tenure Rank

Nov 30, 2011

10.51

10.5%

Anne B. Walsh, Chief Investment Officer, Fixed Income, Senior Managing Director and Portfolio Manager of Guggenheim Partners. Ms. Walsh joined Guggenheim Partners (or its affiliate or predecessor) in 2007 is also the head of the Portfolio Construction Group and Portfolio Management. She oversees more than $185 billion in fixed-income investments including Agencies, Credit, Municipals, and Structured Securities. She is responsible for portfolio design, strategy, sector allocation and risk management, as well as conveying Guggenheim Partners' macroeconomic outlook to Portfolio Managers and fixed income Sector Specialists. Ms. Walsh specializes in liability-driven portfolio management. Prior to joining Guggenheim Partners, she served as Chief Investment Officer at Reinsurance Group of America, and also held roles at Zurich Scudder Investments, Lincoln Investment Management and American Bankers Insurance Group. She has earned the right to use the Chartered Financial Analyst® designation and is a member of the CFA Institute. Ms. Walsh received her BSBA and MBA from Auburn University and her J.D. from the University of Miami School of Law.

B. Scott Minerd


Start Date

Tenure

Tenure Rank

Nov 30, 2011

10.51

10.5%

B. Scott Minerd, Chairman, Global Chief Investment Officer, Managing Partner and Portfolio Manager of Guggenheim Partners. Mr. Minerd joined Guggenheim Partners (or its affiliate or predecessor) in May 1998. Mr. Minerd leads Guggenheim Partners' research on global macroeconomics and guides the firm’s investment strategies.Previously, Mr. Minerd was a Managing Director with Credit Suisse First Boston in charge of trading and risk management for the Fixed Income Credit Trading Group. In this position, he was responsible for the corporate bond, preferred stock, money markets, U.S. government agency and sovereign debt, derivatives securities, structured debt and interest rate swaps trading business units. Prior to that, Mr. Minerd was Morgan Stanley’s London based European Capital Markets Products Trading and Risk Manager responsible for Eurobonds, Euro-MTNs, domestic European Bonds, FRNs, derivative securities and money market products in 12 European currencies and Asian markets. Mr. Minerd has also held capital markets positions with Merrill Lynch and Continental Bank. Prior to that, he was a Certified Public Accountant and worked for the public accounting firm of Price Waterhouse. Mr. Minerd is a member of the Federal Reserve Bank of New York’s Investor Advisory Committee on Financial Markets, helping advise the NY Fed President and senior management at the bank about the current financial markets and ways the public and private sectors can better understand and mitigate systematic risks. Mr. Minerd also works with the Organization for Economic Cooperation and Development (OECD), advising on research and analysis of private sector infrastructure investment, and is a contributing member of the World Economic Forum (WEF). He is a regularly featured guest and contributor to leading financial media outlets, including The Wall Street Journal, The Financial Times, Bloomberg, and CNBC, where he shares insights on today’s financial climate. Mr. Minerd holds a B.S. degree in Economics from the Wharton School, University of Pennsylvania, Philadelphia, and has completed graduate work at the University of Chicago Graduate School of Business and the Wharton School, University of Pennsylvania.

Adam Bloch


Start Date

Tenure

Tenure Rank

Apr 30, 2016

6.09

6.1%

Adam Bloch, Managing Director and Portfolio Manager of Guggenheim Partners. Mr. Bloch joined Guggenheim Partners in 2012 and is a Portfolio Manager for the firm's Active Fixed Income and Total Return mandates. Mr. Bloch works with the Chief Investment Officers and other Portfolio Managers to develop portfolio strategy that is in line with the firm’s views. He oversees strategy implementation, working with research analysts and traders to generate trade ideas, hedge portfolios, and manage day-to-day risk. Prior to joining Guggenheim Partners, he worked in Leveraged Finance at Bank of America Merrill Lynch in New York where he structured high-yield bonds and leveraged loans for leveraged buyouts, restructurings, and corporate refinancings across multiple industries. Mr. Bloch graduated from the University of Pennsylvania.

Steven Brown


Start Date

Tenure

Tenure Rank

Apr 30, 2016

6.09

6.1%

Steve Brown, Senior Managing Director and Portfolio Manager of Guggenheim Partners and Senior Managing Director and Portfolio Manager of Security Investors. He has co-managed Series E since 2016. Mr. Brown joined Guggenheim Investments in 2010 and is a Portfolio Manager for Guggenheim Partners' Active Fixed Income and Total Return mandates. He works with the Chief Investment Officers and other members of the Portfolio Management team to develop and execute portfolio strategy. Additionally, he works closely with the Sector Teams and Portfolio Construction Group. Prior to joining Portfolio Management in 2012, Brown worked in Guggenheim Partners' Asset Backed Securities group. His responsibilities on that team included trading and evaluating investment opportunities and monitoring credit performance. Prior to joining Guggenheim Partners in 2010, Mr. Brown held roles within structured products at ABN AMRO and Bank of America in Chicago and London. He has earned the right to use the Chartered Financial Analyst® designation and is a member of the CFA Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19