Russell 2000® 1.5x Strategy

Investment 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.

Fund Highlights and Applications

Employs a strategy that seeks to magnify the index’s exposure 150% on a daily basis
Provides enhanced exposure to an underlying benchmark per dollar invested
Intended for investors who expect the Russell 2000® Index to go up and want accelerated investment gains when it does so. However, there is an increased risk of accelerated losses if the market declines

Distributions

as of 12/12/24
Most Recent Income	$0.729615
Dividend	$0.729615
Most Recent Capital Gain	$0.000000

Fees and Expenses
Gross Expense Ratio	1.81%
Net Expense Ratio	1.71%

Symbols & CUSIPs

Class	Symbol	CUSIP	Inception
A	RYAKX	78355E478	3/31/04
C	RYCMX	78355E601	1/23/01
H	RYMKX	783554389	11/1/00

Investment Team

Team Managed

Operations

Fund Type	Rydex
Distribution Frequency	Annual (if applicable)
Benchmark	Russell 2000 Index
Telephone	800.820.0888
Trading Hours	Phone: 9:30 AM - 3:45 PM ET Web: 9:30 AM - 3:55 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. Performance shown 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.

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, 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. •Leveraged 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 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 Funds’ holdings consistent with their strategies, as frequently as daily. •For more on these and other risks, please read the prospectus. •Investing in securities of small-capitalization companies may involve a greater risk of loss and more abrupt fluctuations in market price than investments in larger companies. •There are no assurances that any Rydex fund will achieve its objective and/or strategy. This fund is subject to active trading and tracking error risks, which may increase volatility, impact the fund’s ability to achieve its investment objective and may decrease the fund’s performance. •This fund is considered non-diversified and can invest a greater portion of its 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.

The Russell 2000® Index is a trademark of Russell Investment Group and has been licensed for use by Guggeneheim Investments and its affiliates. This fund is not sponsored, endorsed, issued, sold or promoted by Russell Investment Group nor does Russell Investment Group make any representation regarding the advisability of investing in any Guggeneheim 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.

RYMKX

Investment Strategy

Fund Highlights and Applications

Distributions

Fees and Expenses

Symbols & CUSIPs

Investment Team

Operations

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