Claymore/Beacon Spin-Off ETF (the Fund), formerly Claymore/Clear Spin-Off ETF, seeks investment results that correspond generally to the performance of an equity index called the Beacon Spin-off Index (the Index). The Fund will normally invest at least 90% of its total assets in common stock, American depositary receipts (ADRs) and master limited partnerships (MLPs) that comprise the Index. The universe of companies eligible for inclusion in the Index includes companies that have been spun-off within the past two years (but not more recently than six months prior to the applicable rebalancing date), without limitations on market capitalization (including micro-cap securities), but which are primarily small and mid-cap companies with capitalizations under $10 billion. Its index provider is Beacon Indexes LLC. The Fund’s investment advisor is Claymore Advisors, LLC.