Guggenheim Funds

QUARTERLY PERFORMANCE
as of 12/31/11

    Average Annual Total Returns
  YTD 1 YEAR 3 YEAR 5 YEAR Since
Inception
AGC Advent/Claymore Global Convertible Securities & Income Fund

inception 5/24/07

-24.10 % -24.10 % 13.68 % - -13.24 %
AVK Advent Claymore Convertible Securities and Income Fund

inception 4/29/03

-11.85 % -11.85 % 20.33 % -3.84 % 3.35 %
FFC Flaherty & Crumrine/Claymore Preferred Securities Income Fund

inception 1/28/03

18.89 % 18.89 % 46.60 % 7.19 % 6.21 %
FLC Flaherty & Crumrine/Claymore Total Return Fund

inception 8/26/03

19.09 % 19.09 % 47.46 % 8.19 % 6.14 %
FMO Fiduciary/Claymore MLP Opportunity Fund

inception 12/22/04

6.06 % 6.06 % 29.95 % 6.51 % 8.20 %
GBAB Guggenheim Build America Bonds Managed Duration Trust

inception 10/26/10

26.30 % 26.30 % - - 12.43 %
GEQ Guggenheim Equal Weight Enhanced Equity Income Fund

inception 10/27/11

- - - - -11.15 %
GGE 2 Guggenheim Enhanced Equity Strategy Fund

inception 1/27/04

12.75 % 12.75 % 25.67 % -28.06 % -15.35 %
GOF Guggenheim Strategic Opportunities Fund

inception 7/26/07

13.54 % 13.54 % 41.01 % - 12.80 %
GPM 1 Guggenheim Enhanced Equity Income Fund

inception 8/25/05

-2.42 % -2.42 % 13.56 % -4.22 % -2.96 %
LCM Advent/Claymore Enhanced Growth & Income Fund

inception 1/26/05

-16.09 % -16.09 % 14.54 % -4.79 % -1.76 %
MCN Madison/Claymore Covered Call & Equity Strategy Fund

inception 7/27/04

-9.99 % -9.99 % 16.99 % -3.80 % 0.18 %
MZF Managed Duration Investment Grade Municipal Fund

inception 8/26/03

22.12 % 22.12 % 29.38 % 9.73 % 6.02 %
TYW TS&W/Claymore Tax-Advantaged Balanced Fund

inception 4/27/04

19.09 % 19.09 % 30.60 % 2.68 % 4.64 %
WIA Western Asset/Claymore Inflation-Linked Securities & Income Fund

inception 9/25/03

2.46 % 2.46 % 9.49 % 7.22 % 3.39 %
WIW Western Asset/Claymore Inflation-Linked Opportunities & Income Fund

inception 2/24/04

5.07 % 5.07 % 10.80 % 7.30 % 3.75 %

Returns for periods less than one year are total returns and are not annualized.

Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. Since Inception returns assume a purchase of common shares at each Fund’s initial offering price for market price returns or the Fund’s initial net asset value (NAV) for NAV returns. Returns for periods of less than one year are not annualized. All distributions are assumed to be reinvested either in accordance with the dividend reinvestment plan (DRIP) for market price returns or NAV for NAV returns. Until the DRIP price is available from the Plan Agent, the market price returns reflect the reinvestment at the closing market price on the last business day of the month. Once the DRIP is available around mid-month, the market price returns are updated to reflect reinvestment at the DRIP price.

    Average Annual Total Returns
  YTD 1 YEAR 3 YEAR 5 YEAR Since
Inception
AGC Advent/Claymore Global Convertible Securities & Income Fund

inception 5/24/07

10.74 % -20.44 % 16.13 % - -11.10 %
AVK Advent Claymore Convertible Securities and Income Fund

inception 4/29/03

11.23 % -6.03 % 20.65 % -1.85 % 4.58 %
FFC Flaherty & Crumrine/Claymore Preferred Securities Income Fund

inception 1/28/03

4.85 % 20.92 % 45.60 % 7.74 % 6.71 %
FLC Flaherty & Crumrine/Claymore Total Return Fund

inception 8/26/03

3.42 % 20.49 % 46.44 % 8.57 % 6.50 %
FMO Fiduciary/Claymore MLP Opportunity Fund

inception 12/22/04

4.21 % 8.08 % 25.03 % 6.76 % 8.73 %
GBAB Guggenheim Build America Bonds Managed Duration Trust

inception 10/26/10

2.62 % 28.64 % - - 13.86 %
GEQ Guggenheim Equal Weight Enhanced Equity Income Fund

inception 10/27/11

5.11 % - - - -6.61 %
GGE 2 Guggenheim Enhanced Equity Strategy Fund

inception 1/27/04

4.87 % 16.69 % 27.91 % -26.79 % -14.70 %
GOF Guggenheim Strategic Opportunities Fund

inception 7/26/07

-2.17 % 9.44 % 39.63 % - 12.01 %
GPM 1 Guggenheim Enhanced Equity Income Fund

inception 8/25/05

4.41 % 3.21 % 13.62 % -4.25 % -2.27 %
LCM Advent/Claymore Enhanced Growth & Income Fund

inception 1/26/05

10.13 % -8.44 % 16.08 % -3.40 % -0.38 %
MCN Madison/Claymore Covered Call & Equity Strategy Fund

inception 7/27/04

7.36 % -2.93 % 21.65 % -2.82 % 1.13 %
MZF Managed Duration Investment Grade Municipal Fund

inception 8/26/03

3.91 % 30.66 % 23.70 % 10.25 % 6.44 %
TYW TS&W/Claymore Tax-Advantaged Balanced Fund

inception 4/27/04

- - - - -
WIA Western Asset/Claymore Inflation-Linked Securities & Income Fund

inception 9/25/03

2.06 % 7.46 % 8.28 % 7.50 % 3.61 %
WIW Western Asset/Claymore Inflation-Linked Opportunities & Income Fund

inception 2/24/04

2.30 % 7.26 % 10.73 % 7.50 % 4.01 %

Returns for periods less than one year are total returns and are not annualized.

Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. Since Inception returns assume a purchase of common shares at each Fund’s initial offering price for market price returns or the Fund’s initial net asset value (NAV) for NAV returns. Returns for periods of less than one year are not annualized. All distributions are assumed to be reinvested either in accordance with the dividend reinvestment plan (DRIP) for market price returns or NAV for NAV returns. Until the DRIP price is available from the Plan Agent, the market price returns reflect the reinvestment at the closing market price on the last business day of the month. Once the DRIP is available around mid-month, the market price returns are updated to reflect reinvestment at the DRIP price.

    ANNUAL TOTAL RETURNS
  2011 2010 2009 2008 2007
AGC Advent/Claymore Global Convertible Securities & Income Fund

inception 5/24/07

-24.10 % 23.71 % 56.46 % -55.64 % -20.07 %*
AVK Advent Claymore Convertible Securities and Income Fund

inception 4/29/03

-11.85 % 27.12 % 55.50 % -47.26 % -10.49 %
FFC Flaherty & Crumrine/Claymore Preferred Securities Income Fund

inception 1/28/03

18.89 % 27.76 % 107.43 % -44.95 % -18.41 %
FLC Flaherty & Crumrine/Claymore Total Return Fund

inception 8/26/03

19.09 % 29.49 % 107.94 % -45.57 % -15.08 %
FMO Fiduciary/Claymore MLP Opportunity Fund

inception 12/22/04

6.06 % 28.92 % 60.51 % -35.88 % -2.61 %
GBAB Guggenheim Build America Bonds Managed Duration Trust

inception 10/26/10

26.30 % -9.10 %* - - -
GEQ Guggenheim Equal Weight Enhanced Equity Income Fund

inception 10/27/11

-11.15 %* - - - -
GGE 2 Guggenheim Enhanced Equity Strategy Fund

inception 1/27/04

12.75 % -1.11 % 78.00 % -86.78 % -26.57 %
GOF Guggenheim Strategic Opportunities Fund

inception 7/26/07

13.54 % 31.41 % 87.71 % -33.50 % -8.52 %*
GPM 1 Guggenheim Enhanced Equity Income Fund

inception 8/25/05

-2.42 % 22.18 % 22.85 % -39.88 % -8.45 %
LCM Advent/Claymore Enhanced Growth & Income Fund

inception 1/26/05

-16.09 % 16.62 % 53.56 % -42.23 % -9.87 %
MCN Madison/Claymore Covered Call & Equity Strategy Fund

inception 7/27/04

-9.99 % 10.49 % 61.01 % -38.12 % -16.85 %
MZF Managed Duration Investment Grade Municipal Fund

inception 8/26/03

22.12 % 6.54 % 66.45 % -27.21 % 0.93 %
TYW TS&W/Claymore Tax-Advantaged Balanced Fund

inception 4/27/04

19.09 % 18.72 % 57.57 % -43.41 % -8.92 %
WIA Western Asset/Claymore Inflation-Linked Securities & Income Fund

inception 9/25/03

2.46 % 8.08 % 18.51 % -0.91 % 8.95 %
WIW Western Asset/Claymore Inflation-Linked Opportunities & Income Fund

inception 2/24/04

5.07 % 7.95 % 19.91 % -3.37 % 8.21 %

* Returns are total returns since the fund's inception.

  Annual Total Returns are for the noted 1-year periods beginning 12/31 and ending 12/31 the following year.

Performance data quoted represents past performance, which is no guarantee of future results, and current performance may be lower or higher than the figures shown. Since Inception returns assume a purchase of common shares at each Fund’s initial offering price for market price returns or the Fund’s initial net asset value (NAV) for NAV returns. Returns for periods of less than one year are not annualized. All distributions are assumed to be reinvested either in accordance with the dividend reinvestment plan (DRIP) for market price returns or NAV for NAV returns. Until the DRIP price is available from the Plan Agent, the market price returns reflect the reinvestment at the closing market price on the last business day of the month. Once the DRIP is available around mid-month, the market price returns are updated to reflect reinvestment at the DRIP price.

There can be no assurance that any closed-end fund will achieve its investment objective(s). Past performance does not guarantee future results. The value of any closed-end fund will fluctuate with the value of the underlying securities. Until the original listing of a closed-end fund on an exchange, no closed-end fund's shares will have a history of public trading and, historically closed-end funds often trade at a discount to their net asset value.

1 Effective June 22, 2010, the Fund will utilize a covered call strategy developed by Guggenheim Partners Asset Management, LLC, in an effort to achieve its investment objective and selling securities short will no longer be a principal investment strategy of the Fund. Also at this time, Guggenheim Enhanced Equity Income Fund (NYSE: GPM) was named Old Mutual/Claymore Long-Short Fund (NYSE: OLA). For additional information regarding this change, please visit www.guggenheimfunds.com/GPM.
2 Effective May 16, 2011, the Fund will pursue a covered call strategy developed by Guggenheim Partners Asset Management, LLC, the Fund’s interim investment sub-adviser, in an effort to achieve the Fund’s investment objective. Also, at this time, Claymore Dividend & Income Fund (NYSE: DCS) was renamed and given a new ticker symbol, Guggenheim Enhanced Equity Strategy Fund (NYSE: GGE). For additional information regarding this change, please visit www.guggenheimfunds.com/GGE.

Investors should carefully consider the investment objectives and policies, risk considerations, charges and ongoing expenses of any investment product before investing. For more information, please contact a securities representative or Guggenheim Funds Distributors, Inc., 2455 Corporate West Drive, Lisle, Illinois 60532, 800-345-7999.

NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE