YAO Guggenheim China All-Cap ETF
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Portfolio of Investments
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November 30, 2012 (unaudited)
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Number
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of Shares
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Description
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Value
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Long-Term Investments - 100.1%
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Common Stocks - 100.0%
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Basic Materials - 3.5%
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330,000
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Aluminum Corp. of China Ltd.(a) (b)
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$140,515
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92,000
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Angang Steel Co. Ltd.(b)
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57,930
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148,000
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China BlueChemical Ltd.
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92,428
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156,000
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China Forestry Holdings Co. Ltd.(b) (c) (d)
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–
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314,000
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China Lumena New Materials Corp.
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63,205
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110,000
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China Molybdenum Co. Ltd.
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45,419
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106,000
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Citic Pacific Ltd.
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133,901
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91,000
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Dongyue Group
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50,725
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138,000
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Hunan Nonferrous Metal Corp. Ltd.(a) (b)
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44,516
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115,000
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Jiangxi Copper Co. Ltd.
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295,288
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49,000
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Kingboard Chemical Holdings Ltd.
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145,418
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133,000
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Lee & Man Paper Manufacturing Ltd.
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79,971
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148,000
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Maanshan Iron & Steel(a) (b)
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40,676
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124,000
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MMG Ltd.(b)
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48,320
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142,000
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Nine Dragons Paper Holdings Ltd.
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104,072
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59,500
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Real Gold Mining Ltd.(b) (c) (d)
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–
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152,000
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Sinofert Holdings Ltd.
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32,361
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198,000
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Sinopec Shanghai Petrochemical Co. Ltd.
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57,739
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112,000
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Yingde Gases
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111,132
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73,000
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Zhaojin Mining Industry Co. Ltd.
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123,769
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502,000
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Zijin Mining Group Co. Ltd.
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202,094
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1,869,479
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Communications - 18.5%
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4,233
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AsiaInfo-Linkage, Inc.(a) (b)
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48,595
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18,928
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Baidu, Inc., ADR(b)
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1,822,956
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200,000
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China Communications Services Corp. Ltd.
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112,515
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247,500
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China Mobile Ltd.
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2,829,466
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1,158,000
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China Telecom Corp. Ltd.
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630,546
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356,000
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China Unicom Hong Kong Ltd.
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554,897
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69,545
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Comba Telecom Systems Holdings Ltd.(a)
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25,036
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11,982
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Ctrip.com International Ltd., ADR(a) (b)
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228,856
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7,571
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Focus Media Holding Ltd., ADR(a)
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183,900
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6,091
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NetEase.com, Inc., ADR
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267,151
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5,547
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Sina Corp.(b)
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252,499
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2,468
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Sohu.com, Inc.(b)
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98,300
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86,600
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Tencent Holdings Ltd.
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2,829,287
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53,440
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ZTE Corp.(a)
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80,677
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9,964,681
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Consumer, Cyclical - 5.9%
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172,000
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Air China Ltd.
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115,184
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65,000
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Anta Sports Products Ltd.
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47,471
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240,000
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Bosideng International Holdings Ltd.
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73,083
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232,000
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Brilliance China Automotive Holdings Ltd.(b)
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282,290
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42,000
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Byd Co. Ltd.(a) (b)
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107,736
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241,000
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China Dongxiang Group Co.
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26,432
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134,000
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China Eastern Airlines Corp. Ltd.(a) (b)
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45,646
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45,000
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China Lilang Ltd.
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24,445
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98,000
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China Resources Enterprise Ltd.
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349,636
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146,000
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China Southern Airlines Co. Ltd.(a)
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65,182
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71,000
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China ZhengTong Auto Services Holdings Ltd.(a) (b)
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46,264
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65,000
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Digital China Holdings Ltd.
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108,696
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238,000
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Dongfeng Motor Group Co. Ltd.
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334,733
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50,000
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Golden Eagle Retail Group Ltd.
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118,193
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86,500
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Great Wall Motor Co. Ltd.
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282,937
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186,000
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Guangzhou Automobile Group Co. Ltd.
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151,439
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69,000
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Haier Electronics Group Co. Ltd.(b)
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94,730
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188,000
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Hengdeli Holdings Ltd.(a)
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66,952
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706
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Home Inns & Hotels Management, Inc., ADR(a) (b)
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18,977
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94,000
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Intime Department Store Group Co. Ltd.(a)
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107,463
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55,500
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Li Ning Co. Ltd.(b)
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29,361
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52,000
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Minth Group Ltd.
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56,227
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99,500
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Parkson Retail Group Ltd.
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71,768
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222,000
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PCD Stores Group Ltd.
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24,921
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29,000
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Ports Design Ltd.
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20,842
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53,200
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Shanghai Pharmaceuticals Holding Co. Ltd.
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99,672
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32,999
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Shenzhou International Group Holdings Ltd.
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63,528
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95,995
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Springland International Holdings Ltd.
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47,192
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39,400
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Weichai Power Co. Ltd.
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148,194
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46,000
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Wumart Stores, Inc.
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95,798
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46,000
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Zhongsheng Group Holdings Ltd.
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56,684
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3,181,676
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Consumer, Non-cyclical - 7.1%
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65,000
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Asian Citrus Holdings Ltd.
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30,529
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300,000
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Chaoda Modern Agriculture Holdings Ltd.(b) (c) (d)
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10,490
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185,000
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China Agri-Industries Holdings Ltd.
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104,793
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62,000
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China Foods Ltd.
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62,640
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89,494
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China Medical System Holdings Ltd.
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60,971
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118,000
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China Mengniu Dairy Co. Ltd.
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330,398
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246,991
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China Modern Dairy Holdings Ltd.(b)
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61,827
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32,000
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China Shineway Pharmaceutical Group Ltd.
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48,144
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115,000
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China Yurun Food Group Ltd.(a) (b)
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70,780
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486,000
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CP Pokphand Co. Ltd.
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58,947
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102,000
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Jiangsu Expressway Co. Ltd.
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91,207
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32,200
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Lianhua Supermarket Holdings Co. Ltd.
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25,137
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7,178
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Mindray Medical International Ltd., ADR(a)
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242,832
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10,883
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New Oriental Education & Technology Group, ADR
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219,401
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156,000
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Shandong Weigao Group Medical Polymer Co. Ltd.
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161,233
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100,000
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Shenguan Holdings Group Ltd.
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50,838
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710,000
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Shenzhen International Holdings Ltd.
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59,548
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162,994
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Sihuan Pharmaceutical Holdings Group Ltd.(a)
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67,090
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248,000
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Sino Biopharmaceutical
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119,359
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69,200
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Sinopharm Group Co. Ltd.
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214,742
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158,000
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Tingyi Cayman Islands Holding Corp.
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461,765
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24,000
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Tsingtao Brewery Co. Ltd.
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135,018
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81,000
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Uni-President China Holdings Ltd.
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106,188
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567,000
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Want Want China Holdings Ltd.
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828,180
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6,036
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WuXi PharmaTech Cayman, Inc., ADR(b)
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98,930
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120,000
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Zhejiang Expressway Co. Ltd.
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91,509
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3,812,496
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Diversified - 0.6%
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96,000
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China Merchants Holdings International Co. Ltd.
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291,095
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Energy - 17.4%
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343,000
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China Coal Energy Co. Ltd.
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346,096
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226,000
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China Longyuan Power Group Corp.
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149,305
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128,000
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China Oilfield Services Ltd.
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255,668
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1,406,000
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China Petroleum & Chemical Corp.
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1,491,257
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285,000
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China Shenhua Energy Co. Ltd.
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1,167,573
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1,266,000
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CNOOC Ltd.
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2,708,406
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274,000
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Kunlun Energy Co. Ltd.
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557,896
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1,768,000
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PetroChina Co. Ltd.
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2,367,964
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344,000
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United Energy Group Ltd.(b)
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61,254
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165,994
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Winsway Coking Coal Holding Ltd.
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25,702
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164,000
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Yanzhou Coal Mining Co. Ltd.
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250,971
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9,382,092
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Financial - 36.8%
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106,000
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Agile Property Holdings Ltd.
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142,791
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1,996,000
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Agricultural Bank of China Ltd.
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875,659
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5,744,000
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Bank of China Ltd.
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2,423,582
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674,000
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Bank of Communications Co. Ltd.
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493,974
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660,000
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China Citic Bank Corp. Ltd.
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340,643
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3,775,000
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China Construction Bank Corp.
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2,893,336
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72,000
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China Everbright Ltd.
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103,865
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624,000
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China Life Insurance Co. Ltd.
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1,839,782
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326,500
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China Merchants Bank Co. Ltd.
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625,191
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447,000
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China Minsheng Banking Corp. Ltd.
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438,345
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320,000
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China Overseas Land & Investment Ltd.
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947,607
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162,800
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China Pacific Insurance Group Co. Ltd.
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533,561
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156,000
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China Resources Land Ltd.
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416,668
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72,800
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China Taiping Insurance Holdings Co. Ltd.(b)
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120,988
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212,994
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Chongqing Rural Commercial Bank
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97,839
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132,000
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COSCO Pacific Ltd.
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186,332
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565,880
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Country Garden Holdings Co. Ltd.(b)
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270,160
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400,000
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Evergrande Real Estate Group Ltd.
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199,741
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105,000
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Far East Horizon Ltd.
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73,567
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290,000
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Franshion Properties China Ltd.
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100,657
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225,000
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Glorious Property Holdings Ltd.(b)
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38,032
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|
86,400
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Guangzhou R&F Properties Co. Ltd.(a)
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147,381
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5,256,000
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Industrial & Commercial Bank of China Ltd.
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3,546,929
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|
107,500
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KWG Property Holding Ltd.
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77,538
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110,000
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Longfor Properties Co. Ltd.
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210,915
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318,000
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PICC Property & Casualty Co. Ltd.
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409,089
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160,000
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Ping An Insurance Group Co. of China Ltd.
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1,210,831
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164,000
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Poly Property Group Co. Ltd.(a) (b)
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113,424
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910,000
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Renhe Commercial Holdings Co. Ltd.(a) (b)
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48,729
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40,000
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Shanghai Industrial Holdings Ltd.
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130,838
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104,000
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Shimao Property Holdings Ltd.
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211,219
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306,500
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Sino-Ocean Land Holdings Ltd.
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231,752
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156,000
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SOHO China Ltd.(a)
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117,754
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|
47,000
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Yanlord Land Group Ltd. (Singapore)(b)
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55,455
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|
426,000
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Yuexiu Property Co. Ltd.
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136,869
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19,811,043
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Industrial - 6.8%
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57,981
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AAC Technologies Holdings, Inc.
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217,708
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108,500
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Anhui Conch Cement Co. Ltd.(a)
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361,198
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|
196,000
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AviChina Industry & Technology Co. Ltd.
|
84,722
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|
99,000
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BBMG Corp.
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83,798
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|
120,000
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Beijing Capital International Airport Co. Ltd.
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85,935
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|
370,000
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China Communications Construction Co. Ltd.
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337,056
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|
217,500
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China COSCO Holdings Co. Ltd.(b)
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99,628
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|
182,000
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China Everbright International Ltd.
|
86,655
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90,000
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China High Speed Transmission Equipment Group Co. Ltd.(b)
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29,961
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|
47,400
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China Metal Recycling Holdings Ltd.
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49,968
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|
240,000
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China National Building Material Co. Ltd.
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313,392
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|
99,000
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China National Materials Co. Ltd.
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30,786
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|
143,500
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China Railway Construction Corp. Ltd.
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159,978
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|
319,000
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China Railway Group Ltd.
|
185,636
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|
273,000
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China Rongsheng Heavy Industries Group Holdings Ltd.(a)
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44,737
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|
165,000
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China Shanshui Cement Group Ltd.
|
112,625
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|
317,000
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China Shipping Container Lines Co. Ltd.(b)
|
83,851
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|
112,000
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China Shipping Development Co. Ltd.
|
55,349
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|
124,000
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China State Construction International Holdings Ltd.
|
156,639
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|
118,800
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China Zhongwang Holdings Ltd.(a) (b)
|
42,308
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|
153,000
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CSR Corp. Ltd.
|
129,309
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|
28,800
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Dongfang Electric Corp. Ltd.
|
49,053
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|
124,000
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Guangshen Railway Co. Ltd.
|
41,120
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|
47,000
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Haitian International Holdings Ltd.
|
56,945
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|
58,000
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Harbin Electric Co. Ltd.
|
47,971
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|
78,500
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Kingboard Laminates Holdings Ltd.
|
34,439
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|
232,000
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Lonking Holdings Ltd.(a)
|
52,986
|
|
228,000
|
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Metallurgical Corp. of China Ltd.(a) (b)
|
40,598
|
|
168,000
|
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NVC Lighting Holdings Ltd.
|
44,005
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|
73,000
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Sany Heavy Equipment International Holdings Co. Ltd.
|
35,699
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|
236,000
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Shanghai Electric Group Co. Ltd.
|
92,877
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|
116,000
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Tianjin Port Development Holdings Ltd.
|
14,668
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|
173,000
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Yangzijiang Shipbuilding Holdings Ltd.
|
132,537
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|
37,999
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Zhuzhou CSR Times Electric Co. Ltd.
|
115,222
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|
119,200
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|
Zoomlion Heavy Industry Science and Technology Co. Ltd.(a)
|
153,344
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|
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|
3,662,703
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|
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Technology - 1.1%
|
|
|
502,000
|
|
Lenovo Group Ltd.
|
472,849
|
|
1,970,000
|
|
Semiconductor Manufacturing International Corp.(b)
|
95,322
|
|
80,000
|
|
Travelsky Technology Ltd.
|
40,567
|
|
|
|
|
608,738
|
|
|
|
|
|
|
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Utilities - 2.3%
|
|
|
38,500
|
|
Beijing Enterprises Holdings Ltd.
|
248,137
|
|
211,993
|
|
China Datang Corp. Renewable Power Co. Ltd.
|
24,071
|
|
54,000
|
|
China Resources Gas Group Ltd.
|
116,500
|
|
142,000
|
|
China Resources Power Holdings Co. Ltd.
|
318,444
|
|
276,000
|
|
Datang International Power Generation Co. Ltd.
|
96,867
|
|
208,000
|
|
Guangdong Investment Ltd.
|
169,083
|
|
261,996
|
|
Huaneng Power International, Inc.
|
222,104
|
|
247,991
|
|
Huaneng Renewables Corp. Ltd.(b)
|
38,078
|
|
|
|
|
1,233,284
|
|
|
|
|
|
|
|
|
Total Common Stocks - 100.0%
|
|
|
|
|
(Cost $58,659,178)
|
53,817,287
|
|
|
|
|
|
|
|
|
Right - 0.1%
|
|
|
|
|
Consumer, Non-cyclical - 0.0%*
|
|
|
55,500
|
|
China Agri-Industries Holdings Ltd.(b)(c)
|
7,161
|
|
|
|
(Cost $0)
|
|
|
|
|
|
|
|
|
|
Total Long-Term Investments - 100.0%
|
|
|
|
|
(Cost $58,659,178)
|
53,824,448
|
|
|
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|
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|
Number
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|
|
of Shares
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|
Description
|
Value
|
|
|
|
Investments of Collateral for Securities Loaned - 5.1%
|
|
|
2,745,116
|
|
BNY Mellon Securities Lending Overnight Fund, 0.2159%(e) (f)
|
2,745,116
|
|
|
|
(Cost $2,745,116)
|
|
|
|
|
|
|
|
|
|
Total Investments - 105.1%
|
|
|
|
|
(Cost $61,404,294)
|
56,569,564
|
|
|
|
Liabilities in excess of Other Assets - (5.1%)
|
(2,732,045)
|
|
|
|
Net Assets - 100.0%
|
$ 53,837,519
|