Product List

Fund Name Strategy Share Classes Ticker Trading
Cut-Off
Fixed Income
Fixed Income
Floating Rate Strategies Seeks to provide a high level of current income while maximizing total return. A
C
Institutional
P
GIFAX
GIFCX
GIFIX
GIFPX
Phone:
4:00 PM ET Web:
4:00 PM ET
High Yield Seeks high current income. Capital appreciation is a secondary objective. A
C
Institutional
P
SIHAX
SIHSX
SHYIX
SIHPX
Phone:
4:00 PM ET Web:
4:00 PM ET
Investment Grade Bond Seeks to provide current income. A
C
Institutional
P
SIUSX
SDICX
GIUSX
SIUPX
Phone:
4:00 PM ET Web:
4:00 PM ET
Limited Duration Seeks to provide a high level of income consistent with preservation of capital. A
C
Institutional
P
GILDX
GILFX
GILHX
GILPX
Phone:
4:00 PM ET Web:
4:00 PM ET
Macro Opportunities Seeks to provide total return, comprised of current income and capital appreciation. A
C
Institutional
P
GIOAX
GIOCX
GIOIX
GIOPX
Phone:
4:00 PM ET Web:
4:00 PM ET
Municipal Income Seeks to provide current income with an emphasis on income exempt from federal income tax, while also considering capital appreciation. A
C
Institutional
P
GIJAX
GIJCX
GIJIX
GIJPX
Phone:
4:00 PM ET Web:
4:00 PM ET
Total Return Bond Seeks to provide total return, comprised of current income and capital appreciation. A
C
Institutional
P
GIBAX
GIBCX
GIBIX
GIBLX
Phone:
4:00 PM ET Web:
4:00 PM ET
Fund Name Strategy Share Classes Ticker Trading
Cut-Off
Alternative
Alternative
Alpha Opportunity Seeks to deliver long-term growth of capital. A
C
Institutional
P
SAOAX
SAOCX
SAOIX
SAOSX
Phone:
4:00 PM ET Web:
4:00 PM ET
Diversified Income Seeks to achieve high current income with consideration for capital appreciation. A
C
Institutional
P
GUDAX
GUDCX
GUDIX
GUDPX
Phone:
4:00 PM ET Web:
4:00 PM ET
Event Driven and Distressed Strategies Seeks to achieve capital growth. A
C
Institutional
P
RYDOX
RYDQX
RYDTX
RYDSX
Phone:
4:00 PM ET Web:
4:00 PM ET
Long Short Equity Seeks to provide long-term capital appreciation. A
C
Institutional
P
RYAMX
RYISX
RYQTX
RYSRX
Phone:
4:00 PM ET Web:
4:00 PM ET
Managed Futures Strategy Seeks to achieve absolute returns. A
C
Institutional
P
RYMTX
RYMZX
RYIFX
RYMFX
Phone:
4:00 PM ET Web:
4:00 PM ET
Market Neutral Real Estate Seeks to provide capital appreciation, while limiting exposure to general stock market risk. A
C
Institutional
P
GUMAX
GUMCX
GUMNX
GUMPX
Phone:
4:00 PM ET Web:
4:00 PM ET
Multi-Hedge Strategies Seeks to provide long-term capital appreciation with less risk than traditional equity funds. A
C
Institutional
P
RYMQX
RYMRX
RYIMX
RYMSX
Phone:
4:00 PM ET Web:
4:00 PM ET
Risk Managed Real Estate Seeks to provide total return, comprised of capital appreciation and income. A
C
Institutional
P
GURAX
GURCX
GURIX
GURPX
Phone:
4:00 PM ET Web:
4:00 PM ET
Fund Name Strategy Share Classes Ticker Trading
Cut-Off
Equity
Equity
Directional Allocation Seeks investment results that, before fees and expenses correspond generally to the total return performance of the Guggenheim Directional Allocation Index. A
C
Institutional
P
TVRAX
TVRCX
TVRIX
TVFRX
Phone:
4:00 PM ET Web:
4:00 PM ET
Large Cap Value Seeks to deliver long-term growth of capital by investing in equity securities of undervalued large-capitalization U.S. companies. A
C
Institutional
P
SECIX
SEGIX
GILCX
SEGPX
Phone:
4:00 PM ET Web:
4:00 PM ET
Mid Cap Value Seeks to deliver long-term growth of capital by investing in equity securities of undervalued small- to medium-sized U.S. companies. A
C
P
SEVAX
SEVSX
SEVPX
Phone:
4:00 PM ET Web:
4:00 PM ET
Mid Cap Value Institutional Seeks to deliver long-term growth of capital by investing in equity securities of undervalued small- to medium-sized U.S. companies. Institutional SVUIX Phone:
4:00 PM ET Web:
4:00 PM ET
RBP Dividend Seeks investment results that, before fees and expenses, correspond generally to the total return performance of the Guggenheim RBP Dividend Index. A
C
Institutional
P
TVEAX
TVECX
TVEIX
TVEFX
Phone:
4:00 PM ET Web:
4:00 PM ET
RBP Large-Cap Defensive Seeks investment results that, before fees and expenses correspond generally to the total return performance of the Guggenheim RBP Large-Cap Defensive Index. A
C
Institutional
P
TVDAX
TVDCX
TVIDX
TVFDX
Phone:
4:00 PM ET Web:
4:00 PM ET
RBP Large-Cap Market Seeks investment results that, before fees and expenses correspond generally to the total return performance of the Guggenheim RBP Large-Cap Market Index. A
C
Institutional
P
TVMAX
TVMCX
TVIMX
TVFMX
Phone:
4:00 PM ET Web:
4:00 PM ET
RBP Large-Cap Value Seeks investment results that, before fees and expenses correspond generally to the total return performance of the Guggenheim RBP Large-Cap Value Index. A
C
Institutional
P
TVVAX
TVVCX
TVVIX
TVVFX
Phone:
4:00 PM ET Web:
4:00 PM ET
Small Cap Value Seeks to deliver long-term growth of capital by investing in equity securities of undervalued small-sized U.S. companies. A
C
Institutional
P
SSUAX
SSVCX
SSUIX
SSUPX
Phone:
4:00 PM ET Web:
4:00 PM ET
StylePlus - Large Core Seeks to provide long-term growth of capital. A
C
Institutional
P
SECEX
SFECX
GILIX
SFEPX
Phone:
4:00 PM ET Web:
4:00 PM ET
StylePlus - Mid Growth Seeks to deliver long-term capital appreciation. A
C
Institutional
P
SECUX
SUFCX
GIUIX
SEUPX
Phone:
4:00 PM ET Web:
4:00 PM ET
World Equity Income Seeks to provide total return, comprised of capital appreciation and income. A
C
Institutional
P
SEQAX
SFGCX
SEWIX
SEQPX
Phone:
4:00 PM ET Web:
4:00 PM ET
Fund Name Strategy Share Classes Ticker Trading
Cut-Off
Rydex Funds
Rydex - Equity Broad Market
Dow Jones Industrial Average® Seeks to provide investment results that match, before fees and expenses, the Dow Jones Industrial Average®. A
C
H
RYDAX
RYDKX
RYDHX
Phone:
3:45 PM ET Web:
3:55 PM ET
NASDAQ-100® Seeks to provide investment results that correspond, before fees and expenses, to the performance of the NASDAQ-100 Index® on a daily basis. A
C
Inv
H
RYATX
RYCOX
RYOCX
RYHOX
Phone:
3:45 PM ET Web:
3:55 PM ET
Russell 2000® Seeks to provide investment returns that match, before fees and expenses, the daily performance of the Russell 2000® Index. A
C
H
RYRRX
RYROX
RYRHX
Phone:
10:30 AM ET
3:45 PM ET Web:
10:30 AM ET
3:55 PM ET
S&P 500® Seeks to provide investment returns that match, before fees and expenses, the daily performance of the S&P 500® Index. A
C
H
RYSOX
RYSYX
RYSPX
Phone:
10:30 AM ET
3:45 PM ET Web:
10:30 AM ET
3:55 PM ET
Rydex - Equity Leveraged
Dow 2x Strategy The Fund seeks to provide investment results that match, before fees and expenses, 200% of the daily performance of the Dow Jones Industrial AverageSM. A
C
H
RYLDX
RYCYX
RYCVX
Phone:
10:30 AM ET
3:45 PM ET Web:
10:30 AM ET
3:55 PM ET
Emerging Markets 2x Strategy Seeks to provide investment results that correlate, before fees and expenses, to twice (200%) the daily performance of the BNY Mellon Emerging Markets 50 ADR Index. A
C
H
RYWTX
RYWUX
RYWVX
Phone:
10:30 AM ET
3:45 PM ET Web:
10:30 AM ET
3:55 PM ET
Europe 1.25x Strategy Seeks to provide investment results that correlate, before fees and expenses, to the performance of the Stoxx Europe 50® Index. The fund will attempt to consistently apply leverage to increase the funds exposure to 125% of its benchmark. A
C
H
RYAEX
RYCEX
RYEUX
Phone:
3:45 PM ET Web:
3:55 PM ET
Japan 2x Strategy Seeks to provide investment results that correlate, before fees and expenses, to the performance of a specific benchmark. The Fund's current benchmark is 200% of the fair value of the Nikkei 225 Stock Average. A
C
H
RYJSX
RYJTX
RYJHX
Phone:
3:45 PM ET Web:
3:55 PM ET
Mid-Cap 1.5x Strategy Seeks to provide investment results that correlate, before fees and expenses, to the performance of the S&P MidCap 400™ Index. The fund will attempt to consistently apply leverage to increase the fund's exposure to 150% of its benchmark. A
C
H
RYAHX
RYDCX
RYMDX
Phone:
3:45 PM ET Web:
3:55 PM ET
Monthly Rebalance NASDAQ-100® 2x Strategy Seeks to provide investment results that match, before fees and expenses, 200% of the performance of the NASDAQ-100 Index®. A
C
H
RMQAX
RMQCX
RMQHX
Phone:
3:45 PM ET Web:
3:55 PM ET
NASDAQ-100® 2x Strategy Seeks to provide investment results that match, before fees and expenses, 200% of the daily performance of the NASDAQ-100 Index®. A
C
H
RYVLX
RYCCX
RYVYX
Phone:
10:30 AM ET
3:45 PM ET Web:
10:30 AM ET
3:55 PM ET
Nova Seeks to provide investment returns that match, before fees and expenses, 150% of the daily performance of the S&P 500® Index. A
C
Inv
H
RYANX
RYNCX
RYNVX
RYNHX
Phone:
3:45 PM ET Web:
3:55 PM ET
Russell 2000® 1.5x Strategy Seeks to provide investment returns that correlate, before fees and expenses, to the performance of the Russell 2000® Index on a daily basis. The fund will attempt to consistently apply leverage to increase the fund's exposure to 150% of its benchmark. A
C
H
RYAKX
RYCMX
RYMKX
Phone:
3:45 PM ET Web:
3:55 PM ET
Russell 2000® 2x Strategy Seeks to provide investment returns that match, before fees and expenses, 200% of the daily performance of the Russell 2000® Index. A
C
H
RYRUX
RYRLX
RYRSX
Phone:
10:30 AM ET
3:45 PM ET Web:
10:30 AM ET
3:55 PM ET
S&P 500® 2x Strategy Seeks to provide investment results that match, before fees and expenses, 200% of the daily performance of the S&P 500® Index. A
C
H
RYTTX
RYCTX
RYTNX
Phone:
10:30 AM ET
3:45 PM ET Web:
10:30 AM ET
3:55 PM ET
Rydex - Equity Inverse
Inverse Dow 2x Strategy Seeks to provide investment results that match, before fees and expenses, 200% of the inverse (opposite) of the performance of the Dow Jones Industrial AverageSM on a daily basis. A
C
H
RYIDX
RYCZX
RYCWX
Phone:
10:30 AM ET
3:45 PM ET Web:
10:30 AM ET
3:55 PM ET
Inverse Emerging Markets 2x Strategy Seeks to provide investment results that correlate, before fees and expenses, to twice (200%) the inverse (opposite) daily performance of the BNY Mellon Emerging Markets 50 ADR Index. A
C
H
RYWWX
RYWZX
RYWYX
Phone:
10:30 AM ET
3:45 PM ET Web:
10:30 AM ET
3:55 PM ET
Inverse Mid-Cap Strategy Seeks to provide investment results that match, before fees and expenses, the inverse of the daily performance of the S&P MidCap 400™ Index. A
C
H
RYAGX
RYCLX
RYMHX
Phone:
3:45 PM ET Web:
3:55 PM ET
Inverse NASDAQ-100® 2x Strategy Seeks to provide investment results that match, before fees and expenses, 200% of the inverse (opposite) of the performance of the NASDAQ-100 Index® on a daily basis. A
C
H
RYVTX
RYCDX
RYVNX
Phone:
10:30 AM ET
3:45 PM ET Web:
10:30 AM ET
3:55 PM ET
Inverse NASDAQ-100® Strategy Seeks to provide investment results that match, before fees and expenses, the inverse (opposite) of the daily performance of the NASDAQ-100 Index®. A
C
Inv
H
RYAPX
RYACX
RYAIX
RYALX
Phone:
3:45 PM ET Web:
3:55 PM ET
Inverse Russell 2000® 2x Strategy Seeks to provide investment results that match, before fees and expenses, 200% of the inverse (opposite) of the performance of the Russell 2000® Index on a daily basis. A
C
H
RYIUX
RYIZX
RYIRX
Phone:
10:30 AM ET
3:45 PM ET Web:
10:30 AM ET
3:55 PM ET
Inverse Russell 2000® Strategy Seeks to provide investment results that match, before fees and expenses, the inverse of the daily performance of the Russell 2000® Index. A
C
H
RYAFX
RYCQX
RYSHX
Phone:
3:45 PM ET Web:
3:55 PM ET
Inverse S&P 500® 2x Strategy Seeks to provide investment results that match, before fees and expenses, 200% of the inverse (opposite) of the performance of the S&P 500® Index on a daily basis. A
C
H
RYTMX
RYCBX
RYTPX
Phone:
10:30 AM ET
3:45 PM ET Web:
10:30 AM ET
3:55 PM ET
Inverse S&P 500® Strategy Seeks to provide investment results that match, before fees and expenses, the inverse of the daily performance of the S&P 500® Index. A
C
Inv
H
RYARX
RYUCX
RYURX
RYUHX
Phone:
3:45 PM ET Web:
3:55 PM ET
Rydex - Style Box
S&P 500® Pure Growth Seeks to provide investment results that match, before fees and expenses, the daily performance of the S&P 500® Pure Growth Index. A
C
H
RYLGX
RYGRX
RYAWX
Phone:
3:45 PM ET Web:
3:50 PM ET
S&P 500® Pure Value Seeks to provide investment results that match, before fees and expenses, the daily performance of the S&P 500® Pure Value Index. A
C
H
RYLVX
RYVVX
RYZAX
Phone:
3:45 PM ET Web:
3:50 PM ET
S&P MidCap 400® Pure Growth Seeks to provide investment results that match, before fees and expenses, the daily performance of the S&P MidCap 400® Pure Growth Index. A
C
H
RYMGX
RYCKX
RYBHX
Phone:
3:45 PM ET Web:
3:50 PM ET
S&P MidCap 400® Pure Value Seeks to provide investment results that match, before fees and expenses, the daily performance of the S&P MidCap 400® Pure Value Index. A
C
H
RYMVX
RYMMX
RYAVX
Phone:
3:45 PM ET Web:
3:50 PM ET
S&P SmallCap 600® Pure Growth Seeks to provide investment results that match, before fees and expenses, the daily performance of the S&P SmallCap 600® Pure Growth Index. A
C
H
RYSGX
RYWCX
RYWAX
Phone:
3:45 PM ET Web:
3:50 PM ET
S&P SmallCap 600® Pure Value Seeks to provide investment results that match, before fees and expenses, the daily performance of the S&P SmallCap 600® Pure Value Index. A
C
H
RYSVX
RYYCX
RYAZX
Phone:
3:45 PM ET Web:
3:50 PM ET
Rydex - Sectors
Banking Seeks to provide capital appreciation by investing in companies that are involved in the banking sector, including commercial banks (and their holding companies) and savings and loan institutions. A
C
Inv
H
RYBKX
RYKCX
RYKIX
RYKAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Basic Materials Seeks to provide appreciation by investing in companies engaged in the mining manufacture or sale of basic materials, such as lumber, steel, iron, aluminum, concrete, chemicals and other basic building and manufacturing materials. A
C
Inv
H
RYBMX
RYBCX
RYBIX
RYBAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Biotechnology Seeks to provide capital appreciation by investing in companies that are involved in the biotechnology industry, including companies involved in research and development, genetic or other biological engineering, and in the design, manufacture, or sale of related biotechnology products or services. A
C
Inv
H
RYBOX
RYCFX
RYOIX
RYOAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Consumer Products Seeks to provide capital appreciation by investing in companies engaged in manufacturing finished goods and services both domestically and internationally. A
C
Inv
H
RYPDX
RYCPX
RYCIX
RYCAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Electronics Seeks to provide capital appreciation by investing in companies that are involved in the electronics sector, including semiconductor manufacturers and distributions, and makers and vendors of other electronic components and devices. A
C
Inv
H
RYELX
RYSCX
RYSIX
RYSAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Energy Seeks capital appreciation by investing in companies involved in the energy field, including the exploration, production and development of oil, gas, coal and alternative sources of energy. A
C
Inv
H
RYENX
RYECX
RYEIX
RYEAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Energy Services Seeks to provide capital appreciation by investing in companies that are involved in the energy services field, including those that provide services and equipment in the areas of oil, coal and gas exploration and production. A
C
Inv
H
RYESX
RYVCX
RYVIX
RYVAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Financial Services Seeks to provide capital appreciation by investing in companies that are involved in financial services sector. A
C
Inv
H
RYFNX
RYFCX
RYFIX
RYFAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Health Care Seeks to provide capital appreciation by investing in companies that are involved in health care industry. A
C
Inv
H
RYHEX
RYHCX
RYHIX
RYHAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Internet Seeks to provide capital appreciation by investing in companies that provide products or services designed for or related to the Internet. A
C
Inv
H
RYINX
RYICX
RYIIX
RYIAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Leisure Seeks to provide appreciation by investing in companies engaged in the leisure and entertainment business. A
C
Inv
H
RYLSX
RYLCX
RYLIX
RYLAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Precious Metals Seeks to provide capital appreciation by investing in U.S and foreign companies that are involved in the precious metal sector, including exploration, mining, production and development, and other precious metals-related services. A
C
Inv
H
RYMNX
RYZCX
RYPMX
RYMPX
Phone:
3:30 PM ET Web:
3:50 PM ET
Real Estate Seeks to provide capital appreciation by investing in companies that are involved in the real estate industry including real estate investment trusts (REITs). A
C
H
RYREX
RYCRX
RYHRX
Phone:
3:30 PM ET Web:
3:50 PM ET
Retailing Seeks to provide capital appreciation by investing in companies engaged in merchandising finished goods and services, including department stores, mail order operations and other companies involved in selling products to consumers. A
C
Inv
H
RYRTX
RYRCX
RYRIX
RYRAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Technology Seeks to provide capital appreciation by investing in companies that are involved in the technology sector, including computer software and service companies, semiconductor manufacturers, networking and telecommunications equipment manufacturers, PC hardware and peripherals companies. A
C
Inv
H
RYTHX
RYCHX
RYTIX
RYTAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Telecommunications Seeks to provide appreciation by investing in companies engaged in the development manufacture, or sale of communication services or communication equipment. A
C
Inv
H
RYTLX
RYCSX
RYMIX
RYMAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Transportation Seeks to provide capital appreciation by investing in companies engaged in providing transportation services or companies engaged in design, manufacture, distribution, or sale of transportation equipment. A
C
Inv
H
RYTSX
RYCNX
RYPIX
RYPAX
Phone:
3:30 PM ET Web:
3:50 PM ET
Utilities Seeks to provide capital appreciation by investing in companies that operate public utilities. A
C
Inv
H
RYUTX
RYCUX
RYUIX
RYAUX
Phone:
3:30 PM ET Web:
3:50 PM ET
Rydex - Fixed Income, Commodities, Currency (FICC)
Commodities Strategy Seeks to provide investments results that correlate, before fees and expenses, the performance of the S&P GSCITM Commodity Index. A
C
H
RYMEX
RYMJX
RYMBX
Phone:
3:30 PM ET Web:
3:55 PM ET
Emerging Markets Bond Strategy Seeks to provide investment results that correlate, before fees and expenses, to the performance of the emerging markets bond market as defined by the Advisor. A
C
H
RYIEX
RYFTX
RYGTX
Phone:
10:30 AM ET
3:30 PM ET Web:
10:30 AM ET
3:45 PM ET
Government Long Bond 1.2x Strategy Seeks to provide investment results that correspond, before fees and expenses, to 120% of the daily price movement of the current Long Treasury Bond. A
C
Inv
H
RYABX
RYCGX
RYGBX
RYHBX
Phone:
3:45 PM ET Web:
3:55 PM ET
High Yield Strategy Seeks to provide investments results that correlate, before fees and expenses, to the performance of the high yield bond market. The fund seeks to gain exposure similar to the high yield bond market by investing in credit default swaps, high yield securities, futures and other financial instruments with economic characteristics comparable to that of high yield bond market. A
C
H
RYHDX
RYHHX
RYHGX
Phone:
3:30 PM ET Web:
3:45 PM ET
Inverse Government Long Bond Strategy Seeks to provide investment returns that inversely correlate, before fees and expenses, to the daily price movement of the current Long Treasury Bond. A
C
Inv
H
RYAQX
RYJCX
RYJUX
RYHJX
Phone:
3:45 PM ET Web:
3:55 PM ET
Inverse High Yield Strategy Seeks to provide investments results that inversely correlate, before fees and expenses, to the performance of the high yield bond market. The fund seeks to gain inverse exposure to the performance of the high yield bond market by investing in credit default swaps, futures and other financial instruments with economic characteristics opposite to that of high yield bond market. A
C
H
RYILX
RYIYX
RYIHX
Phone:
3:30 PM ET Web:
3:45 PM ET
Strengthening Dollar 2x Strategy Seeks to provide investment results that match, before fees and expenses, 200% of the performance of the U.S. Dollar Index on a daily basis by investing in derivative instruments such as index swaps, futures contracts and options on securities and future contracts. A
C
H
RYSDX
RYSJX
RYSBX
Phone:
3:45 PM ET Web:
3:55 PM ET
Weakening Dollar 2x Strategy Seeks to provide investment results that match, before fees and expenses, 200% of the inverse performance of the U.S. Dollar Index on a daily basis by engaging in short sales and investing in derivative instruments, such as index swaps, options and future contracts. A
C
H
RYWDX
RYWJX
RYWBX
Phone:
3:45 PM ET Web:
3:55 PM ET
Rydex - Money Market
U.S. Government Money Market The U.S. Money Market Funds seeks to provide security of principal, high current income, and liquidity. MM RYFXX Phone:
4:00 PM ET Web:
4:00 PM ET

The funds may not be suitable for all investors. Certain funds may be affected by risks that include those associated with sector concentration, international investing, investing in small and/or medium size companies, and/or the Funds' possible use of investment techniques and strategies such as leverage, derivatives and short sales of securities and alternative or nontraditional asset classes and strategies such as absolute return, long/short, commodities, currencies and managed futures. Please see the Funds' prospectus for more information. Shares of the Funds are not deposits of, or guaranteed or endorsed by, any financial institution; are not insured by the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, or any other agency; and involve risk, including the possible loss of the principal amount invested. Diversification neither assures a profit nor eliminates the risk of experiencing investment losses.

The Alternative Funds may not be suitable for all investors because of the sophisticated and aggressive investment techniques the funds employ, such as leverage, derivatives and short selling.Click a fund name above or see a prospectus for additional details on these and other risks.

Inverse and leveraged Funds are not suitable for all investors. •These Funds should be utilized only by investors who (a) understand the risks associated with the use of leverage, (b) understand the consequences of seeking daily leveraged investment results, (c) understand the risk of shorting, and (d) intend to actively monitor and manage their investments. •The more a Fund invests in leveraged instruments, the more the leverage will magnify any gains or losses on those investments. •Inverse Funds involve certain risks, which include increased volatility due to the Funds' possible use of short sales of securities and derivatives, such as options and futures. •The Funds' use of derivatives, such as futures, options and swap agreements, may expose the Funds' shareholders to additional risks that they would not be subject to if they invested directly in the securities underlying those derivatives. •Short-selling involves increased risks and costs. You risk paying more for a security than you received from its sale. •Leveraged and inverse Funds seek to provide investment results that match the performance of a specific benchmark, before fees and expenses, on a daily basis. Because the Funds seek to track the performance of their benchmark on a daily basis, mathematical compounding, especially with respect to those Funds that use leverage as part of their investment strategy, may prevent a fund from correlating with the monthly, quarterly, annual or other period performance of its benchmark.Due to the compounding of daily returns, leveraged and inverse Funds' returns over periods other than one day will likely differ in amount and possibly direction from the benchmark return for the same period. For those Funds that consistently apply leverage, the value of the fund's shares will tend to increase or decrease more than the value of any increase or decrease in its benchmark index. The Funds rebalance their portfolios on a daily basis, increasing exposure in response to that day's gains or reducing exposure in response to that day's losses. Daily rebalancing will impair a fund's performance if the benchmark experiences volatility. Investors should monitor their leveraged and inverse Funds' holdings consistent with their strategies, as frequently as daily. •For more on these and other risks, please read the prospectus.

Monthly leveraged funds are not suitable for all investors. • These funds should be utilized only by investors who (a) understand the risks associated with the use of leverage, (b) understand the consequences of seeking monthly leveraged investment results, and (c) intend to actively monitor and manage their investments. • The more a fund invests in leveraged instruments, the more the leverage will magnify any gains or losses on those investments. • The funds’ use of derivatives, such as futures, options and swap agreements, may expose the funds’ shareholders to additional risks that they would not be subject to if they invested directly in the securities underlying those derivatives. • Monthly leveraged funds seek to provide investment results that match the performance of a specific benchmark, before fees and expenses, on a monthly basis. Because monthly leveraged funds seek to track the performance of their benchmark on a monthly basis, mathematical compounding, especially with respect to those funds that use leverage as part of their investment strategy, may prevent a fund from correlating with the quarterly, annual or other period performance of its benchmark. Due to the compounding of monthly returns, leveraged funds’ returns over periods other than one calendar month will likely differ in amount and possibly direction from the benchmark return for the same period. For those funds that consistently apply leverage, the value of the funds’ shares will tend to increase or decrease more than the value of any increase or decrease in its benchmark index. Monthly leveraged funds rebalance their portfolios on a monthly basis on the last day of each calendar month, increasing exposure in response to that month’s gains or reducing exposure in response to that month’s losses. • Throughout the month, the amount of leverage that a monthly leveraged fund provides is allowed to float. Purchasing monthly leveraged funds on any day other than the last day of each calendar month will likely mean that the monthly leveraged fund’s actual leverage is different from its monthly leverage target. Investors should monitor their monthly leveraged funds’ holdings consistent with their strategies, as frequently as daily. • For more on these and other risks, please read the monthly leveraged funds’ prospectus.

An investment in the U.S. Government Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.

 

Read a prospectus and summary prospectus (if available) carefully before investing. It contains the investment objectives, risks, charges, expenses and other information, which should be considered carefully before investing. To obtain a prospectus and summary prospectus (if available) click here or contact us.

Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC ("Guggenheim"), which includes Security Investors, LLC ("SI"), Guggenheim Funds Investment Advisors, LLC, ("GFIA") and Guggenheim Partners Investment Management ("GPIM") the investment advisers to the referenced funds. Securities offered through Guggenheim Funds Distributors, LLC, an affiliate of Guggenheim, SI, GFIA and GPIM.

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