Rydex Funds



Rydex S&P 500® Pure Value Fund (RYZAX) received a 2014 Lipper Award for its category-leading performance. The fund earned the award based on Lipper’s calculation of consistent three-year risk-adjusted performance ending December 31, 2013 by ranking best out of 82 portfolios and 250 funds for the three-year period in the Multi-Cap Value Funds category.

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The Lipper Fund Awards program highlights funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers. They are based on Lipper's Consistent Return calculation. Lipper scores for Consistent Return reflect funds' historical risk-adjusted returns relative to funds in the same Lipper classification and include each fund's expenses and reinvested distributions, but exclude sales charges. Consistent Return values are calculated with all eligible share classes for each eligible classification. The highest Lipper Leader for Consistent Return value within each eligible classification determines the fund classification winner over three, five or 10 years. Lipper, a Thomson Reuters company, is a leading global provider of mutual fund information and analysis to fund companies, financial intermediaries and media organizations.

Investors seeking to include specific market exposures in their portfolios can access dozens of Guggenheim’s Rydex Strategies. Each follows a specific benchmark, and our benchmark replication includes sector strategies, as well as broad market benchmarks—both leveraged and inverse exposure. For more than 20 years, investors have relied on us to help express their market conviction using such innovative beta allocations.  

  1. Equity - Broad Market
  2. Equity - Leveraged
  3. Equity - Inverse
  4. Style Box
  5. Sectors
  6. Fixed Income, Commodities, Currency (FICC)
  7. Money Market
Leveraged & Inverse Fact Sheet Rydex Funds Line Up
Leveraged & Inverse Fact Sheet Pure Style
Fact Sheet
Leveraged & Inverse Fact Sheet Leveraged & Inverse
Fact Sheet
Sector Funds Fact Sheets Sector Funds
Fact Sheet

Trading Expense Calculator

The Trading Expense Calculator will help you compare the potential costs of using ETFs and no-transaction-fee (NTF) mutual funds.

The calculator is designed for active investors to determine whether ETFs or mutual funds' costs are more suitable. (Some mutual funds are sold with a front-end or back-end load. This tool doesn't account for front-end or back-end load. This calculator is appropriate for comparison of ETFs and no-load funds.) In addition to the expense ratio, this calculator incorporates other factors that may affect costs:

  1. Number of round trips or individual trades per year or average holding period: Since you have to pay a commission/transaction cost each time you buy or sell an ETF (and the same may apply to mutual funds), transaction costs and trading frequency should be considered.
  2. Cost per transaction or brokerage commission
  3. Bid / ask spread: Because ETFs are traded on the exchange, they can be affected by bid and ask prices. The wider the spread between those two prices, the more costly it is to trade.

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Trading Expense Calculator

Guggenheim Investments variable insurance funds are available only as underlying investment options in variable annuity contracts and variable life insurance policies issued by life insurance companies. They are not offered or made available directly to the general public. Variable annuities are sold by prospectus, which describe risk factors, fees and surrender charges that may apply. Please remember that variable annuities are long-term investment vehicles and are not intended to replace emergency funds or to fund short-term savings goals. Investment return and principal value will fluctuate, and you may experience a gain or a loss when money is withdrawn. Taxable amounts withdrawn prior to age 59½ may be subject to a 10% federal tax penalty. Withdrawals will reduce the value of the death benefit and any optional benefits.

Prospectuses for variable life and annuity insurance products, in which Guggenheim Investments variable insurance funds serve as underlying investment options, are available directly from individual life insurance companies. Please contact the applicable life insurance company directly for information about variable life and annuity products. Read a prospectus and summary prospectus (if available) carefully before investing. It contains investment objectives, risks, charges, expenses and other information, which should be considered carefully before investing. Obtain a prospectus and summary prospectus (if available) for Guggenheim Investments variable insurance funds at www.guggenheiminvestments.com.

Shares are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.

**1 Exchange privileges are between equivalent share class structures. Certain share classes may impose sales charges on
new purchases or for early redemptions. Please read a prospectus for more information.

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. 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.

There can be no assurance that any investment product will achieve its investment objective(s). There are risks associated with investing, including the entire loss of principal invested. Investing involves market risk. The investment return and principal value of any investment product will fluctuate with changes in market conditions.

Rydex S&P 500 Pure Value Fund may not be suitable for all investors. • The fund is subject to the risk that large capitalization stocks may underperform other segments of the equity market or the equity market as a whole. • Value stocks are subject to the risk that the intrinsic value of the stock may never be realized by the market or that the price goes down. • The funds are subject to the risk that unanticipated early closings of securities exchanges and other financial markets may result in the funds’ inability to buy or sell securities or other financial instruments on that day. In certain circumstances, it may be difficult for the funds to purchase and sell particular investments within a reasonable time at a fair price. • Unlike many investment companies, the funds are not actively “managed.” This means that based on market and economic conditions, the funds’ performance could be lower than other types of funds that may actively shift their portfolio assets to take advantage of market opportunities. • The funds are subject to active trading and tracking error risks, which may increase volatility, impact the funds’ ability to achieve their investment objective and may decrease the funds’ performance. • These funds are considered non-diversified and can invest a greater portion of their assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single security could cause greater fluctuations in the value of fund shares than would occur in a more diversified fund. Read the funds’ prospectus carefully before investing. • Please read the prospectus for more detailed information regarding these and other risks.

This does not take into account tax implications. Please discuss with a tax professional to evaluate a specific portfolio allocation or investment strategy.


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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• Not FDIC Insured • No Bank Guarantee • May Lose Value