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RYIYX

Inverse High Yield Strategy

Price $42.10
Change ($0.03) / -0.07%
As of 11/21/24
 
Resources
Fact Card
Prospectus
Summary Prospectus
 
Semi-Annual Financial Report
Annual Financial Report

Investment 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.

Fund Highlights and Applications

  • Potential to hedge a bond portfolio in a rising default rate environment
  • Unlimited exchange privileges with no redemption penalties
  • Quantitative management style provides consistent, systematic exposure to the high yield market

Distributions
Most Recent Income $1.144945
Dividend $1.144945
Most Recent Capital Gain $0.000000

Fees and Expenses
Gross Expense Ratio 2.35%
Net Expense Ratio 2.31%  

Symbols & CUSIPs

Class Symbol CUSIP Inception
A RYILX 78356A475 4/16/07
C RYIYX 78356A459 4/16/07
H RYIHX 78356A434 4/16/07

Investment Team

Team Managed 

Operations

Fund Type Rydex
Distribution Frequency Annual (if applicable)
Benchmark Bloomberg U.S. Corporate High Yield Index
Telephone 800.820.0888
Trading Hours Phone: 9:30 AM - 3:30 PM ET
Web: 9:30 AM - 3:45 PM ET
Note: Each financial intermediary may have its own rules about shares transactions, and may have earlier cut - off times for processing your transaction.
Investment Adviser Security Investors, LLC
Distributor Guggenheim Funds Distributors, LLC
Performance displayed represents past performance which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than original cost. Current performance may be lower or higher than the performance data quoted. Returns for performance under one year are cumulative, not annualized.  With Load performance reflects maximum sales charges or contingent deferred sales charges (CDSC) as applicable. Class A-shares have a maximum sales charge of 4.75%. Class C-shares have a maximum CDSC of 1% for shares redeemed within 12 months of purchase.

Data is subject to change on a daily basis. Partial year returns are cumulative, not annualized. Returns reflect the reinvestment of dividends.

This fund may not be suitable for all investors. •The use of derivatives such as futures, options and swap agreements will expose the fund to additional risks that they would not be subject to if it invested directly in the securities underlying those derivatives. •A highly liquid secondary market may not exist for the credit default swaps the fund invests in, and there can be no assurance that a highly liquid secondary market will develop. The fund’s market value will change in response to interest rate changes and market conditions among other factors. You may have a gain or loss when you sell your shares. •In general, bond prices rise when interest rates fall, and vice versa. The fund’s exposure to the high yield bond market may subject the fund to greater volatility because (i) the fund will be affected by the ability of high yield security issuers’ ability to make principal and interest payments and (ii) the prices of derivatives linked to high yield bonds may fluctuate unpredictably and not necessarily in relation to interest rates. •It is important to note that the fund is not guaranteed by the U.S. Government. •Investing in the Inverse High Yield Strategy Fund involves certain risks, which include volatility due to the Fund’s possible use of short sales of security and derivatives such as options and futures. •This fund is subject to active trading risks, which may increase volatility due to the funds’s ability to achieve its investment objective and may decrease the fund’s performance. •This fund is considered nondiversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund.

The Advisor has contractually agreed to waive the management fee it receives from the Fund in an amount equal to the management fee paid to the Advisor by the Subsidiary through August 1, 2024. Read the prospectus for more information regarding fees and expenses.

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Read a prospectus and summary prospectus (if available) carefully before investing. It contains the investment objective, risks charges, expenses and the other information, which should be considered carefully before investing. To obtain a prospectus and summary prospectus (if available) click here or call 800.820.0888.

Investing involves risk, including the possible loss of principal.

Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Wealth Solutions, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, Guggenheim Partners Japan Limited, and GS GAMMA Advisors, LLC.

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

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