Re: Agreement and Plan of Reorganization, dated [_____], 2016 (the “Plan”), adopted by the Board of Trustees of the Rydex ETF Trust (the “Trust”) for the reorganization of the Trust’s Guggenheim Russell 1000 Equal Weight ETF (the “Acquired Fund”) into...Rydex Etf Trust • December 21st, 2015
This opinion is furnished to you pursuant to paragraph 12(e) of the Plan. You have requested our opinions as to certain U.S. federal income tax consequences of the reorganization of the Acquired Fund and the Surviving Fund that will consist of: (i) the transfer of all of the assets of the Acquired Fund to the Surviving Fund in exchange solely for shares of the Surviving Fund (“Surviving Fund Shares”), (ii) the assumption by the Surviving Fund of all of the liabilities of the Acquired Fund, and (iii) the distribution of the Surviving Fund Shares to the shareholders of the Acquired Fund1 in complete liquidation of the Acquired Fund, all upon the terms and conditions set forth in the Plan (the “Reorganization”).
