The Claymore/Delta Global Shipping Index ETF was scuttled due to the inability of the shareholders to reach a quorum for a shareholder meeting to vote on the approval of a new advisory agreement between the Trust and Claymore Advisors, LLC (“Claymore Advisors”) following the aquisition of Claymore Group Inc. by Guggenheim Partners, LLC. Claymore still believes there is significant interest in the marketplace for a shipping ETF and that investors are seeking exposure to the shipping industry. As a result they have filed paperwork with the SEC for a new “CLAYMORE SHIPPING ETF” which will trade under the same symbol (SEA). The Fund will seek investment results that correspond generally to the performance, before the Fund’s fees and expenses, of an equity index called the Delta Global Shipping Index (the “Shipping Index” or the “Index”).

Total annual operating expenses will be: .65%

PRINCIPAL INVESTMENT STRATEGIES

         The Fund, using a low cost “passive” or “indexing” investment approach, will seek to replicate, before the Fund’s fees and expenses, the performance of the Shipping Index. The Index is designed to measure the performance of companies listed on global developed market exchanges within the maritime shipping industry (as defined below). Delta Global Indices, LLC (“Delta Global” or the “Index Provider”) defines developed markets as countries with western-style legal systems, transparent financial rules for financial reporting and sophisticated, liquid and accessible stock exchanges with readily-exchangeable currencies. This category currently consists of the major stock exchanges in Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United States or the United Kingdom. As of March 31, 2010, the market capitalizations of stocks included in the Index range from $329.9 million to $32.8 billion, which includes small-, mid and large-capitalization stocks as defined by the Index Provider.

         The Fund will at all times invest at least 90% of its total assets in common stock, American depositary receipts (“ADRs”), global depositary receipts (“GDRs”) and master limited partnerships (“MLPs”) that comprise the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of the component securities that comprise the Index.

         The Fund has adopted a policy that requires the Fund to provide shareholders with at least 60 days notice prior to any material change in this policy or the Index. The Board of Trustees of the Trust may change the Fund’s investment strategy and other policies without shareholder approval, except as otherwise indicated. The Investment Adviser seeks a correlation over time of 0.95 or better between the Fund’s performance and the performance of the Index. A figure of 1.00 would represent perfect correlation.

         The Fund generally will invest in all of the securities comprising the Index in proportion to their weightings in the Index. However, under various circumstances, it may not be possible or practicable to purchase all of the securities in the Index in those weightings. In those circumstances, the Fund may purchase a sample of the securities in the Index in proportions expected by the Investment Adviser to replicate generally the performance of the Index as a whole. There may also be instances in which the Investment Adviser may choose to overweight another stock in the Index, purchase (or sell) securities not in the Index which the Investment Adviser believes are appropriate to substitute for one or more Index components, or utilize various combinations of other available investment techniques, in seeking to accurately track the Index. In addition, from time to time securities are added to or removed from the Index. The Fund may sell securities that are represented in the Index or purchase securities that are not yet represented in the Index in anticipation of their removal from or addition to the Index.

For the full prospectus click: HERE

SEA