Transparent Value Large-Cap Market Fund Class C (TVMCX)



Fund Facts
Price (NAV $) (10/22/2014)$12.48
Daily $ Change $-0.17 
Daily % Change -1.34% 
YTD Return (10/22/2014)-1.42%
Average Annual Total Returns Since Inception (As of 09/30/2014) 11.98% Class C (No Load)11.98% Class C (Load)
Fund Inception Date 04/27/2010
Class Inception Date 04/18/2011
Net Expense Ratio 2.11%1
Gross Expense Ratio 2.37%1
Maximum Sales Charge 1.00%2
Portfolio Management

Julian Koski, Co-Chief Executive Officer & Senior Portfolio Manager

Scott Hammond, Portfolio Manager

Armen Arus, Co-Chief Executive Officer & Senior Portfolio Manager

Gennadiy Khayutin, Senior Portfolio Manager

Farhan Sharaff, Chief Investment Officer

Total Net Assets (09/30/2014) $111.263 million
Fund Ticker TVMCX
Fund CUSIP 89386C852
Underlying Index Transparent Value Large-Cap Market Total Return Index(DRLMT1T)
Fund Overview

The Fund seeks long-term capital appreciation by investing in companies with average market sensitivity in the Dow Jones U.S. Large-Cap Total Stock Market IndexSM.

The Fund invests in large-capitalization companies believed to be undervalued based on a proprietary valuation metric called Required Business Performance® (RBP®) and believed to have an average level of economic and market sensitivity and an average exposure to market volatility. The RBP® methodology begins with a reverse discounted cash flow model that aims to determine what current stock prices potentially imply about market expectations for future business performance. RBP® probabilities are then calculated with the aim to measure the likelihood that a company’s management can deliver the performance necessary to support its current stock price.

The RBP® Probability cannot guarantee nor does it predict profit, performance or future stock prices.

Performance Summary Performance Details >

As of Quarter-Ended 09/30/2014
  YTD 1 Year Annualized Returns
3 Year 5 Year 10 Year Since
Inception
(04/18/2011)
Class C (No Load)  1.18%  11.04%  19.35%  NA  NA  11.98% 
Class C (Load)2 0.18%  10.14%  19.35%  NA  NA  11.98% 

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Transparent Value Large-Cap Market Fund (No Load)
Transparent Value Large-Cap Market Fund (Load)2
Dow Jones U.S. Large-Cap Total Stock Market Total Return Index

Growth of a Hypothetical $10,000 Investment

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1M
3M
6M
YTD
1Y
3Y
INCP
Transparent Value Large-Cap Market Fund (No Load)
Transparent Value Large-Cap Market Fund (Load)2
Dow Jones U.S. Large-Cap Total Stock Market Total Return Index

The chart above shows how a hypothetical investment of $10,000 in the Class Cnet of fees and expenses from inception would have performed versus an investment in the Fund’s benchmark index. The values indicate what $10,000 would have grown to over the time period indicated. The hypothetical example does not represent the returns of any particular investment.

Dow Jones U.S. Large-Cap TSM - a subset of the Dow Jones U.S. Total Stock Market IndexSM, which measures all U.S. equity securities with readily available prices. It includes stocks among the largest 750.

The performance quoted represents past performance, does not guarantee future results and current performance may be lower or higher than the data quoted. The investment return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance data current to the most recent month end may be obtained at www.transparentvalue.com . The returns assume reinvestment of dividends and distributions, if any. Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

You cannot invest directly in an index.

An investment in the Funds involves risks, including loss of principal. No assurance can be given that the investment objectives described herein will be achieved. The Funds seek to track a quantitative strategy index, meaning that the Funds invest in securities comprising an index created by a proprietary model. The success of the Fund’s principal investment strategies depends on the effectiveness of the model in screening securities for inclusion in the Index.

1 As reported in the most recent prospectus (Dated: 1/28/2014). Guggenheim Partners Investment Management, LLC (“Guggenheim” or the “Adviser”) has contractually agreed to reduce fees and reimburse expenses to the extent necessary to keep Net Expenses (excluding interest, taxes, acquired fund fees and expenses, brokerage commissions and extraordinary expenses (“Excluded Expenses”)) from exceeding of the Fund’s average daily net assets of the Shares, until January 31, 2015 (the "Agreement"). To the extent Excluded Expenses are incurred (e.g., the estimated interest expense of 0.01%), Net Annual Fund Operating Expenses may be higher than the contractual caps. This Agreement may be terminated by the Board, for any reason at any time. If, at any point, Total Annual Fund Operating Expenses (not including Excluded Expenses) are below the contractual caps, the Adviser is entitled to be reimbursed by the Fund in an amount equal to the difference between the Fund’s Total Annual Fund Operating Expenses (not including Excluded Expenses) and the contractual caps to recapture all or a portion of its prior fee reductions or expense reimbursements made during the preceding three-year period during which this Agreement was in place. No reimbursement shall be paid to the Adviser until reported to the Board.

2 Maximum Deferred Sales Charge (Load) of (as a percentage of net asset value) 1.00% will be imposed if Fund shares are redeemed within 12 months of purchase. This sales charge applies only to Class C Shares. See "Sales Charges" of the Prospectus.

Important Announcement

This is a notice of certain enhancements to the construction of the Transparent Value Large-Cap Directional Series strategies. These changes will take effect on Friday, (close of business) September 19th , 2014.

Enhancements to the respective methodologies include:

  • Liquidity rules
  • Component selection
  • Component weighting
  • Grandfathering of current components
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For more complete information about the Funds, see the prospectus or call 1 (888) 727-6885. Financial Advisors should call 1-855-TV Funds or 1-855-883-8637. Read the prospectus carefully before you invest or send money.

ALPS Distributors, Inc is not affiliated with Guggenheim Investment Management, LLC, Transparent Value Advisors, LLC (“TVA”) and/or Guggenheim Partners, LLC. TVA and ADI are not affiliated with S&P Dow Jones Indices. Transparent Value Funds are distributed by ALPS Distributors, Inc (“ADI”).

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TVA000283 6/30/2013