ABOUT EXCHANGE-TRADED FUNDS

An ETF is an investment fund that trades throughout the day on stock exchanges during normal trading hours. ETFs combine the advantages of investing in index funds, including diversification and low costs, coupled with the liquidity and flexibility of investing in individual stocks. ETFs offer investors certain advantages over other investment vehicles, including enhanced tax efficiency, intraday liquidity and transparency. ETFs are designed to closely track the holdings and performance of their designated index, whose selection methodology can be either passive or strategic.

Claymore ETFs: Access to innovation

Innovative

Claymore ETFs provide access to innovative indices. Unlike ETFs that track traditional indices representing market participation, the indices Claymore ETFs track seek to best capture the investment potential of unique strategies.

Strategy Driven

Claymore believes that a strategy-driven, quantitative process provides a disciplined investment approach that may offer the potential for positive performance over market cycles.

Best-in-Class Index Providers

The indices Claymore ETFs seek to track are designed by what it believes to be best-in-class index providers with defined investment philosophies. These index providers have backgrounds in areas including financial analysis, academic research and investment research and management.

Who should invest in ETFs?

ETFs are designed for investors seeking:
• A relatively low-cost investment
• To know what they own
• The flexibility of intraday liquidity
• A potentially tax-efficient investment solution

How to purchase Claymore ETFs

Claymore ETFs are listed on the AMEX or NYSE Arca, depending on the ETF listing, the same way as shares of a publicly-traded company. Claymore ETFs can be purchased through most brokerage accounts. They can be bought and sold throughout the day on the AMEX or NYSE Arca, depending on the ETF listing, during normal trading hours.

Claymore ETFs issue and redeem shares at NAV only in large blocks of varying amounts of shares (each block of shares is called a "Creation Unit"), or multiples thereof. Only broker-dealers or large institutional investors with creation and redemption agreements, called Authorized Participants ("APs"), can purchase or redeem these Creation Units. Creation Unit size varies depending on the ETF. Please see the individual ETF prospectus for more information.

The investors buying or selling ETF shares on the secondary market may incur brokerage costs and other transactional fees. Shares of ETFs may fluctuate in price due to daily changes in trading volume. At times, shares may not have a high volume of trading. Except when aggregated in Creation Units, Shares are not redeemable securities of the Funds.