Disclaimer

The Wall Street Journal Category Kings names three Transparent Value Funds among Category Kings!

Transparent Value Dow Jones RBP® U.S. Large-Cap Defensive IndexSM Fund Class F1 for 1-year performance in the Multi-Cap Growth category as of 12/31/11

The average annual total return for Transparent Value Dow Jones RBP® U.S. Large-Cap Defensive IndexSM Fund for Class F1 shares for 1-year and since class inception (4/27/10) period ended 12/31/11 were 5.85% and 6.82%. The total annual fund operating expenses for Class F1 share is 2.81 %.

Transparent Value Dow Jones RBP® U.S. Large-Cap Core IndexSM Fund Class I share in the Large Cap Core category and Transparent Value Dow Jones RBP® U.S. Dividend Fund Class A share in the Equity Income category for YTD performance as of 2/29/12

The average annual total return for Transparent Value Dow Jones RBP® U.S. Large-Cap Core IndexSM Fund for Class I share for YTD and since class inception (2/10/11) period ended 2/29/12 were 14.54% and 9.83%; since class inception (2/10/11) period ended 12/31/11 was -3.67%. The total annual fund operating expenses for Class I share is 8.86 %.

The average annual total return for Transparent Value Dow Jones RBP® U.S. Dividend Fund Class A share without sales charge for YTD and since class inception (2/10/11) period ended 2/29/12 were 10.22% and 6.55%; since class inception (2/10/11) period ended 12/31/11 was -5.30%. The total annual fund operating expenses for Class A share is 10.57%.

Past performances is not a guarantee of future result and investment returns and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Please call 1.888.727.6885 for current month end performance.

  1. Source: The Wall Street Journal, Category Kings, 12/31/11 and 2/29/12. The Category Kings' rankings are based on Lipper’s Mutual Fund Ranking. Transparent Value Dow Jones RBP® U.S. Large-Cap Defensive IndexSM Fund class F1 share is ranked #15 out of 506 for the 1-year period in the Lipper Multi-Cap Growth category as of 12/31/11. Total return includes capital appreciation and reinvested distributions. Past performance does not guarantee future results. Lipper, Inc. - A Reuters company, is a nationally recognized organization that ranks the performance of mutual funds within a universe of funds that have similar investment objectives. Rankings are historical and are based on total return with capital gains and dividends reinvested.

RISKS: The Funds seek to track quantitative strategy index and, as a result, the Funds may have a lower return. An investment in the Transparent Value Funds involves risk, including loss of principal. Since the Funds invest in securities comprising an index created by a proprietary model the funds may have a lower return than if the Funds were managed using a fundamental or index-based strategy that did not incorporate quantitative analysis. Moreover, the Funds are non-diversified and as a result, may have greater exposure to volatility than other funds.

This material is intended to inform you of products and services offered by Guggenheim Investment Management, LLC (“GIM”) and Transparent Value Advisors, LLC (“Transparent Value”). GIM and Transparent Value are subsidiaries of Guggenheim Partners, LLC (“Guggenheim Partners”). The views expressed in this reprint are the views of GIM and are subject to change without notice based on market and other conditions. The opinions expressed may differ from those of other entities affiliated with GIM that use different investment philosophies. No claim is made that RBP can, in and of itself, be used to determine which securities to buy or sell, or when to buy or sell them. No representation or warranty is made by GIM, Transparent Value, Guggenheim Partners, or any of their related entities or affiliates as to the sufficiency, relevance, importance, appropriateness, completeness, or comprehensiveness of the market data, information or summaries contained herein for any specific purpose. The opinions, estimates and investment strategies and views expressed in this document constitute the judgment of our investment strategists, based on past, hypothetical or current market conditions and are subject to change without notice. The views and strategies described herein may not be suitable for all investors. No assurance can be given that GIM investment objectives described herein will be achieved. This material is distributed with the understanding that it is not accounting, legal or tax advice. Please consult your legal or tax advisor concerning such matters. The information contained in this presentation has been gathered from sources we believe to be reliable, but we do not guarantee the accuracy or completeness of such information, and we assume no liability for damages resulting from or arising out of the use of such information.

Transparent Value Funds are distributed by ALPS Distributors, Inc. Guggenheim Funds Distributors, Inc. is the marketing agent for Transparent Value Mutual Funds. Transparent Value, LLC and Guggenheim Funds Distributors, Inc. are subsidiaries of Guggenheim Partners, LLC.

Investors should consider the investment objectives, risks, charges and expenses of the Transparent Value Funds carefully before investing. To obtain a prospectus containing this and other information on Transparent Value Funds, please contact 1.888.727.6885 or visit www.transparentvalue.com. Read the prospectus carefully before investing.

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