The Claymore/Beacon Global Timber Index ETF (Ticker: CUT) seeks investment results that correspond generally to the performance, before fees and expenses, the Beacon Global Timber Index. The Index is comprised of global stocks traded on developed market exchanges that own and/or manage forests and harvest trees for lumber, pulp and other wood-based products, and possibly product and sell lumber, paper and packaging. Potential index constituents are categorized according to their degree of exposure to timber: high exposure means owning and/or managing forested land and marketing forest products; medium exposure means owning and/or managing forested land and marketing paper products or packaging materials; low exposure means marketing forest products or paper products or packaging materials while not owning and/or managing forested land and harvesting trees. Low exposure companies are not included in the index. Weighting reflects the distribution of forest land across regions of the world, i.e. North American exposure reflect the worldwide proportion of forested land in that region. Forested land outside of North America reflects the worldwide proportion of forested land outside North America. Company weights are assigned using a modified market cap weighting method, with no company weight exceeding 4.5% at the time of each rebalance. The constituent selection process is performed annually and index rebalance is repeated quarterly.