GCEC

Claymore CEF Index-Linked GS Connect ETN
*Unless otherwise stated, data provided by FactSet.

GCEC Fund Description

GCE tracks an index of closed-end funds selected by premiums/discounts and distribution yield.

GCEC Factset Analytics Insight

GCE tracks an index of US-listed closed-end funds, aiming for exposure to a high-yield portfolio of closed-end funds with big asset bases and high liquidity, and which trade at attractive discounts to NAV. Although the index itself is not leveraged, many underlying CEFs do use leverage in their portfolios, so investors may be taking on leverage in the ETN’s exposure. Another risk that’s harder to excuse is a lack of transparency: The ETN’s issuer—Goldman Sachs—doesn’t provide a working website for investors to access in order to learn more about the mechanics and methodology. Investor interest in the note is weak—we have doubts about its viability, and wide spreads add to an already high fee. GCE makes quarterly distributions (unlike most ETNs) consistent with its role as an income source.

PERFORMANCE [as of 09/04/20] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
GCEC 29.74% 5.42% -14.41% -15.78% -8.75% -3.56% -2.70%
GCEC (NAV) -- -- -- -- -- -- --
Claymore CEF Index -- -- -- -- -- -- --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

GCEC Summary Data

Goldman Sachs
12/10/07
Exchange-Traded Note
0.95%
--
15.70%

GCEC Portfolio Data

--
09/24/20

GCEC Index Data

Claymore CEF Index
Multi-Factor
Multi-Factor
N/A

GCEC Fund Structure

No
N/A
N/A / N/A
The Goldman Sachs Group Inc.
Low
Low
N/A
N/A

GCEC Tax Exposures

20.00% / 39.60%
--
No

GCEC Factset Analytics Block Liquidity

As of 09/07/20
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of GCEC. GCEC is rated a N/A out of 5.

GCEC Tradability

623
$7.17K
56
0
15.70%
$1.82
--
-- / --
None
0.00%
100,000
0.00
0.00%
--
0
--
N/A