Rydex Set To Begin Trading The Rydex Russell 1000 Equal Weight ETF Wednesday December 8 (EWRI)

Rydex is set to begin trading their new “Rydex Russell 1000 Equal Weight ETF” (NYSE:EWRI) tomorrow. The investment objective of the Rydex Russell 1000 Equal Weight ETF is to correspond as closely as possible, before fees and expenses, to the price and yield performance of the┬áRussell 1000 Equal Weight Index.

Total Annual Fund Operating Expenses: 0.55%

PRINCIPAL INVESTMENT STRATEGIES – The Fund uses a passive management strategy, known as “replication,” to track the performance of the Underlying Index. “Replication” refers to investing in substantially all of the securities in the Underlying Index in approximately the same proportions as in the Underlying Index. The Advisor expects that, over time, if the Fund has sufficient assets, the correlation between the Fund’s performance, before fees and expenses, and that of the Underlying Index will be 95% or better. A figure of 100% would indicate perfect correlation.

The Russell 1000(R) Equal Weight Index is an unmanaged equal-weighted version of the Russell 1000(R) Index, which measures the performance of the large-cap segment of the U.S. equity universe. The Russell 1000(R) Index is a subset of the Russell 3000(R) Index and includes approximately 1,000 of the largest securities within the Russell 3000(R) Index based on a combination of their market cap and current index membership. The Russell 1000(R) Index represents approximately 90% of the U.S. market with capitalizations ranging from $968.3 million to $290.8 billion as of June 30, 2010. The Fund is non-diversified and, therefore, may invest a greater percentage of its assets in a particular issuer in comparison to a diversified fund.

For the full prospectus click: HERE

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