Guggenheim Defined Portfolios, Series 2621’s prospectus states that a 1% increase in interest rates can correspond to a 5% decline in a security’s price. The trust invests through funds and carries related expenses, while distributions, Liquidity and issuer conditions can affect the value of investors’ units.

Key Highlights

  • Guggenheim Funds Distributors selects the portfolio’s securities with assistance from Guggenheim Partners Investment Management.
  • Direct investments in the underlying funds can avoid the trust’s sales charge, operating expenses and organizational costs.
  • The trust indirectly bears annual fees and expenses charged by ETFs and Business development companies.

Guggenheim Defined Portfolios, Series 2621’s Aug. 26, 2026 prospectus describes the Total Income Portfolio, Series 36, as a unit investment trust. Securities are selected by Guggenheim Funds Distributors, LLC with assistance from Guggenheim Partners Investment Management, LLC. The portfolio’s fixed-income exposure carries sensitivity to interest-rate movements.

A 1% rise in interest rates can correspond to a 5% decline in a security’s price, according to the prospectus.

The trust invests through underlying funds that can include Exchange-traded funds and business development companies. The prospectus also says investors may invest directly in those underlying funds without paying the trust’s sales charge, operating expenses and organizational costs.

Total Income Portfolio Structure

Guggenheim Defined Portfolios, Series 2621 is structured as a unit investment trust. Its Total Income Portfolio, Series 36, contains securities selected through the process described in the prospectus.

The portfolio’s underlying holdings include ETFs and BDCs. The prospectus states that the trust will indirectly bear expenses associated with those vehicles, alongside the trust’s own costs.

The securities and portfolio selections are presented for investors evaluating whether an investment in the trust is suitable for them. More detailed information appears elsewhere in the prospectus.

Underlying Fund Costs

ETFs and BDCs charge annual fees and expenses, including management fees. Unitholders bear those costs in addition to the trust’s fees and expenses.

When a base management fee is calculated using gross assets, the adviser may also have an incentive to increase portfolio leverage.

Those incentives can raise expenses paid by a BDC. The trust indirectly bears those expenses, and estimated BDC expenses are reflected in the trust’s annual operating expenses to illustrate their effect. Those expenses may fluctuate significantly over time.

Fixed-Income Risks Detailed

The value of fixed-income securities held by BDCs and ETFs generally falls when interest rates rise. Securities with longer periods before Maturity are typically more sensitive to rate changes, while duration also affects price sensitivity.

The prospectus gives an example in which interest rates rise by 1% and the security price moves down by 5%. It also says future interest-rate movements cannot be predicted.

A BDC, ETF or issuer of securities held by those vehicles may be unable or unwilling to make principal payments or declare future distributions. Economic conditions may bring limited liquidity and greater Volatility to fixed-income markets, with possible valuation uncertainty, wider Credit spreads and less price transparency.

Source(s)

  • https://www.sec.gov/Archives/edgar/data/2119467/000152862126000904/pro.htm