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  • Introduction

    The RBP Blended Index is part of a family of indexes offered by Guggenheim Partners Investment Management, LLC that are created using rules-based, published analytics. The family of indexes is based in part on a measurement called Required Business Performance®(RBP®).
  • What is Required Business Performance®?

    Required Business Performance®, or RBP®, is the revenue growth necessary to support the current stock price. Guggenheim Investments uses its RBP® Methodology to determine each company's Required Business Performance® based on information disclosed in the company's publicly available financial reports.

    RBP® Probability

    RBP® Probability is the probability management will deliver the Required Business Performance® to support the stock price is called RBP® Probability. The RBP® Probability, provides an objective, disciplined, rules-based way of measuring the probability that management will deliver the Required Business Performance®.

  • Calculating RBP® - A Fact-Driven Approach

    At Guggenheim Investments, we reverse the traditional discounted free cash flow method by starting with the value of a stock as determined by the market. Our methodology is a reverse discounted free cash flow analysis utilizing a company's current stock price, its income statement, balance sheet and cash flow statements to determine what the current price of its stock implies about future free cash flow (FCF), revenue growth and RBP®. This process is fact driven.

    Transparent Value Approach

    How we calculate RBP® Probability

    To determine the RBP® Probability for a given company, we first determine the revenue growth required to support the current stock price. We do this using a reverse discounted cash flow model that uses the stock price as the input and then, assuming a ten-year first stage and perpetuity thereafter, solves for the required free cash flow and revenue growth rates.

    Then, the company's historical revenue growth rate is fit to a distribution curve using data from the prior twelve quarters. With this curve and the company's required revenue growth rate, we can calculate the probability that management will deliver the required revenue growth.

  • >
    Past performance is not indicative of future results. Index data is provided for informational purposes only. An index is unmanaged, not subject to fees and not available for direct investment. Guggenheim Partners Investment Management, LLC makes no representation regarding the advisability of investing in any securities of any company, investment fund or other investment vehicle. A decision to invest should not be made in reliance on any of the statements set forth on this website.
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    Media Inquiries

    Gerard Carney


  • Disclaimer


    Access to the Guggenheim Indexes website defined below is provided by Guggenheim Investments. For purposes of this agreement, "Guggenheim Investments" shall mean Guggenheim Partners Investment Management, LLC. and its affiliates, and their officers, directors, managing directors, partners, and employees. The "Guggenheim Investments website" shall mean the website of Guggenheim Partners Investment Management, LLC. available to the general public and located at rbpinstitute.com and other select domains.


    Your use of the products and services on this website may be monitored by Guggenheim Investments, and the resultant information may be used by Guggenheim Investments for its internal business purposes or in accordance with the rules of any applicable regulatory or self-regulatory organization.


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    Guggenheim Investments shall have no liability, contingent or otherwise, to you or to third parties, or any responsibility whatsoever, for the failure of any connection or communication service to provide or maintain your access to this service, or for any interruption or disruption of such access or any erroneous communication between Guggenheim Investments and you, regardless of whether the connection or communication service is provided by Guggenheim Investments or a third-party service provider. Guggenheim Investments shall have no liability, contingent or otherwise, to you or to third parties, for the correctness, quality, accuracy, timeliness, reliability, performance, continued availability, completeness or delays, omissions or interruptions in the delivery of the data and services available on this website or for any other aspect of the performance of this service or for any failure or delay in the execution of any transactions through this service. In no event will Guggenheim Investments be liable for any special, indirect, incidental or consequential damages which may be incurred or experienced on account of you using the data or services made available on this website, even if Guggenheim Investments has been advised of the possibility of such damages. Guggenheim Investments will have no responsibility to inform you of any difficulties experienced by Guggenheim Investments or third parties with respect to the use of the services or to take any action in connection therewith.


    Guggenheim Investments makes no warranty whatsoever to you express or implied, regarding the security of the website, including with respect to the ability of unauthorized persons to intercept or access information transmitted by you through this service. SYSTEM OUTAGES, SLOWDOWNS AND CAPACITY LIMITATIONS/DELAYS IN ORDER ROUTING, EXECUTIONS AND TRADE REPORTS As a result of high Internet traffic, transmission problems, systems capacity limitations and other problems, you may, at times, experience difficulty accessing the website or communicating with Guggenheim Investments through the Internet or other electronic and wireless services. Any computer system or other electronic device, whether it is yours, an Internet service provider's or Guggenheim Investments's can experience unanticipated outages or slowdowns, or have capacity limitations.


    Guggenheim Investments may change the RBP® methodology at any time without notice to you, and does not undertake to advise you of any changes to a previously-issued RBP® Report that may result from changes to its methodology.


    This material has been prepared for informational purposes only without regard to any particular user's investment objectives, financial situation or means, and Guggenheim Investments is not soliciting or advising on the advisability of any action based upon it. This material is not to be construed as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy in any jurisdiction in which such an offer or solicitation, or trading strategy would be illegal. Guggenheim Investments makes no representation regarding the advisability of investing in any investment fund or other investment product that seeks to provide an investment return based on the performance of any index, and Guggenheim Investments makes no assurance that any investment products based on the index will accurately track index performance or provide positive investment returns. A decision to invest in any such investment fund or other investment product should not be made in reliance on any of the statements set forth in these materials. Although this material is based upon information that Guggenheim Investments considers reliable and endeavors to keep current, Guggenheim Investments has not verified this information and does not represent that this material is accurate, current or complete and it should not be relied upon as such.


    The fact that Guggenheim Investments has made the data and services provided on this website available to you constitutes neither a recommendation to enter into a particular transaction nor a representation that any product described on this website is suitable or appropriate for you. RBP Ratings are not a signal or timing service that can be used to buy or sell individual stocks. In addition, no claim is made that the RBP Ratings can, in and of themselves, be used to determine which securities to buy or sell, or when to buy or sell them. Inclusion of a security within an index is not a recommendation by Guggenheim Investments to buy, sell, or hold such security, nor is it considered to be investment advice. Any discussion of the risks contained herein with respect to any product should not be considered to be a disclosure of all risks or complete discussion of the risks which are mentioned. You should neither construe any of the material contained herein as business, financial, investment, hedging, trading, legal, regulatory, tax or accounting advice nor make this service the basis for any investment decisions made by or on behalf of you, your accountants or your managed or fiduciary accounts, and you should consult your business advisor, attorney and tax and accounting advisors concerning any contemplated transactions.


    This service may provide links to certain Internet sites (the "Sites") sponsored and maintained by third parties. Guggenheim Investments is providing such links solely as a convenience to you. Accordingly, Guggenheim Investments makes no representations concerning the content of the Sites. The fact that Guggenheim Investments has provided a link to the Site does not constitute an endorsement, authorization, sponsorship or affiliation by Guggenheim Investments with respect to the Site, its owners or its providers. Guggenheim Investments has not tested any information, software or products found on any of the Sites and therefore does not make any representations with respect thereto, including any representations regarding the content or sponsors of the Site, or the suitability or appropriateness of the products or transactions described therein.

    © Guggenheim Partners Investment Management, LLC 2024

  • S&P Dow Jones Notices

    Guggenheim RBP Blended IndexSM1 and Guggenheim RBP Large-Cap Defensive 100 IndexSM (the “indexes”) are the property of Guggenheim Investments, which has contracted with S&P Dow Jones indices LLC or its affiliate (“S&PDJI”) to maintain and calculate the indexes. The S&P 2 –Year Treasury Note Futures Total Return Index is the property of S&P and/ or its their party licensors and has been licensed by S&PDJI for use by Guggenheim Investments in connection with the indexes. S&PDJI shall have no liability for any errors or omissions in calculating the indexes.

  • Privacy Policy

    Our Commitment to You

    Guggenheim Investments considers your privacy our utmost concern. We recognize that your relationship with us is based on trust and that you expect us to act responsibly and in your best interests. Because we may have access to private information about you, we hold ourselves to the highest standards in its safekeeping and use, This means, most importantly, that we do not sell client information to anyone—whether it is your personal information or if you are a current or former Guggenheim Investments client.

    The Information We Collect About You

    In order to provide you with individualized service, we may collect certain nonpublic personal information about you from information you provide on applications or other forms (such as name, address, Social Security or other tax identification number, age, information that we collect on our website through the use of “cookies,” and other personal information). We may also collect such information through your inquiries by mail, e-mail or telephone.

    How We Handle Your Personal Information

    As emphasized above, we do not sell information about current or former clients or their accounts to third parties. Nor do we share such information, except when necessary to complete transactions at your request or to make you aware of related products and services that we offer. Additional details about how we handle your personal information are provided below.

    To complete certain transactions that you direct, it may be necessary to provide identifying information to companies, individuals or groups that are not affiliated with Guggenheim Investments. To alert you to other Guggenheim Investments products and services, we may share your information within the Guggenheim Investments family of affiliated companies. This would include, for example, sharing your information within Guggenheim Investments so we can make you aware of new services offered through another Guggenheim Investments affiliated company. In certain instances, we may contract with nonaffiliated companies to perform services for us. Where necessary, we will disclose information we have about you to these third parties.  In all such cases, we provide the third party with only the information necessary to carry out its assigned responsibilities and only for that purpose. And we require these third parties to treat your private information with the same high degree of confidentiality that we do.

    In certain instances, we may share information with other financial institutions regarding individuals and entities in response to the U.S.A. Patriot Act.

    We will release information about you if you direct us to do so, if we are compelled by law to do so, or in other circumstances as permitted by law (for example, to protect your account from fraud).

    If you decide at some point to become an inactive customer, we will continue to adhere to the privacy policies and practices described in this notice.

    Opt-Out Provisions

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    How We Safeguard Your Personal Information

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    We’ll Keep You Informed

    As required by federal law, we will notify you of our privacy policy annually. We reserve the right to modify this policy at any time, but rest assured that if we do change it, we will tell you promptly.  Should you have any questions regarding our privacy policy, contact us by phone at 212.518.5344 or by mail at 330 Madison Avenue, New York, New York, 10017.