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DCS Fund Overview
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(DCS) Dreman/Claymore
Dividend & Income Fund
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Common Shares
Daily Data
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| Current Distribution Rate1 |
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| Quarterly Dividend Per Share 2 |
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| 52-Week Average Premium/Discount |
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| Tax-Advantaged Distribution Rate3 |
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| 52 Week High/Low Share Price4 |
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| Intraday Trading Information |
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Weekly Data
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| Percent Leveraged From Preferred Shares |
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Annual Data
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| Expense Ratio (Total Fund)5 |
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| Expense Ratio (Common Shares)5 |
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Inception Information
Common Shares 7
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| The Wall Street Journal Listing |
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Auction Market Preferred Shares
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| 1940 Act Asset Coverage Ratio8 |
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1 Latest declared quarterly dividend per share annualized and divided by the current share price. To the extent any portion of the current distribution is estimated to be sourced from something other than income, such as return of capital, the source would be disclosed on a Section 19a-1 letter located under the “Fund News” section of the “News & Literature” section of the Fund’s website. The distribution rate may include net investment income, capital gains and/or return of capital. The distribution rate alone is not indicative of Fund performance.
2 Dividend per share is subject to change on the ex-dividend date. The distribution amount may include net investment income, capital gains and/or return of capital. The distribution amount alone is not indicative of Fund performance.
3 “Tax-Advantaged Distribution Rate” is calculated based upon the 35% federal income tax bracket and assumes the 2007 tax characterization of dividends whereby 85.04% of distributions are ordinary income (of which 88.94% are qualified dividend income generally taxed at the maximum 15% long-term capital gains rate) and 14.96% are long-term capital gains.There can be no assurance that this characterization is indicative of future allocations nor that this distribution rate will be achieved in the future.
The Fund cannot assure investors as to what percentage of the dividends paid on the common shares, if any, will consist of qualified dividend income or long-term capital gains, both of which are taxed at lower rates for individuals than are ordinary income and short-term capital gains. It is important to note that common shareholders must meet the holding period requirements, as it pertains to qualified dividend income, as set forth by the Jobs and Growth Tax Relief Reconciliation Act of 2003, to be consistent with the tax-advantaged distribution rate shown herein.
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If new tax legislation is not enacted, the taxation rates on qualifying dividend income and long-term capital gains will revert to the pre-2003 Tax Act rates in 2011. Taxation rates on taxable bond interest income, non-qualifying dividend income and short-term capital gains are scheduled to revert to the pre-2001 rates in 2011. Please consult your tax advisor for further information as it pertains to the potential tax advantages and implications of this Fund.
4 Figures are based on market close.
5 Annualized
6 Not Annualized
7 Based on prospectus information
8 The Fund is required to maintain, with respect to the AMPS, as of the last business day of each month in which any AMPS are outstanding, asset coverage of at least 200% with respect to senior securities which are beneficial interests in the Fund.
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DCS
Investment Objective |
The Fund's primary investment objective is to provide a high level of current income, with a secondary objective of capital appreciation. The Fund will pursue its investment objectives by investing its assets primarily in dividend-paying common and preferred stocks. There can be no assurance that the Fund will achieve its investment objectives.
Under normal market conditions, the Fund will invest at least 80% of its total assets in dividend-paying or other income-producing securities, and at least 65% of the Fund's total assets will consist of investments in dividend-paying common and preferred stocks. The Fund may invest up to 20% of its total assets in U.S. dollar-denominated securities of foreign issuers. There is no minimum credit rating for preferred stocks and debt securities in which the Fund may invest, although the Fund will not invest more than 10% of its total assets in non-convertible fixed-income securities of below investment-grade quality, which are commonly referred to as "junk bonds."
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DCS Portfolio
Overview |
(as of
7/31/2008)
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| Common Stocks |
61.46%
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| Preferred Stock |
16.20%
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| Corporate Bonds |
14.28%
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| Convertible Preferred |
10.17%
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| Cash and Equivalents |
1.72%
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| Other |
-3.83%
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(as of
7/31/2008)
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| Altria Group Inc |
7.30%
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| ConocoPhillips |
5.60%
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| Phillip Morris International |
5.10%
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| Crescent Point Energy Trust (Canada) |
4.00%
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| Fannie Mae Convertible Preferred |
3.70%
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| Devon Energy |
3.20%
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| Universal Corp 6.75% Conv Pfd |
3.20%
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| Bonavista Energy Trust (Canadian) |
2.80%
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| Washington Mutual Inc |
2.60%
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| Chevron Corp |
2.60%
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(as of
7/31/2008)
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| Financials |
42.39%
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| Energy |
30.06%
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| Consumer Staples |
17.05%
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| Healthcare |
4.20%
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| Utilities |
2.92%
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| Consumer Discretionary |
1.64%
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| Industrials |
1.23%
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| Materials |
0.38%
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| Telecommunication Services |
0.13%
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All portfolio data will change as the Fund's holdings change (which can be on a daily basis).
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DCS $10,000 Investment |
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Market Performance on a Hypothetical $10,000 Investment
Since Inception of Fund |
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All distributions are assumed to be reinvested at the applicable dividend reinvestment price.
Past performance is not indicative of future results.
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