- Last Ratings Update:06/30/2014
- Price as of 06/30/2014 :$26.14
- Net Assets:$1,350.6 Million
- Peer Rank:157 of 282
- Investment Rating:B-
We rate Guggenheim Multi-Asset Income ETF at B-. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Positive factors that influence this rating include a greater than above average total return and low expense structure. The fund invests approximately 95% of its assets in stocks and may be considered for investors seeking an Equity Income strategy.
POSITIVES AND RISKS
Total return ranks above peers over the last three years. The Guggenheim Multi-Asset Income ETF has returned an annual rate of 6.62% since inception. More recently, the fund has generated a total return of 19.56% in the last five years, 12.20% in the last three years, and 20.06% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 73% of them. It has also outpaced 71% of its competitors on a three year basis and 60% of them over the last year for the period ending 6/30/2014. On a year to date basis, CVY has returned 8.11%.
Downside risk has been below average. CVY has a draw down risk of -13.07%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 11.0%. This fund has had a low level of volatility in its monthly performance over the last 36 months. As of 6/30/2014, the fund was trading at a price of $26.14, which is 0.7% below its 52-week high of $26.33 and 2.6% above its 52-week low of $25.48.
High expense ratio hinders performance. On total assets of $1.35 billion, CVY maintains a high expense ratio compared to its Equity Income peers of 0.65% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As CVY is an exchange traded fund, it has no front end or back end load.
The Guggenheim Multi-Asset Income ETF is managed by James R. King at Guggenheim Funds Investment Advisor. This fund is one of 48 Guggenheim Funds Investment Advisor exchange-traded funds launched since 1/28/2004 that we track.
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