The Claymore/BBD High Income Index ETF (LVL) has changed its name and underlying index. The fund has been renamed the Claymore S&P Global Dividend Opportunities Index ETF, and it will retain the same ticker symbol.
The S&P Global Opportunities Index contains exposure to 100 high yielding ADRs and stocks. Companies within the index are screened based upon various factors including dividends, market size, and trading volume. After being selected, stocks are weighted based upon their dividend payouts.
Top companies represented in the fund are American Capital Ltd. (ACAS), Capitalsource Inc. (CSE), and Bank of America Corp. (BAC).
Although the fund’s holdings include large, mid, and small cap stocks, the weighted average market size is just over $15 billion and leans toward larger companies.