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Trending ETFs

Name

As of 03/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$120.56

$1.44 M

0.62%

$0.75

1.81%

Vitals

YTD Return

6.7%

1 yr return

19.8%

3 Yr Avg Return

8.4%

5 Yr Avg Return

8.6%

Net Assets

$1.44 M

Holdings in Top 10

62.6%

52 WEEK LOW AND HIGH

$120.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.81%

SALES FEES

Front Load 4.75%

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/25/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$120.56

$1.44 M

0.62%

$0.75

1.81%

RYAEX - Profile

Distributions

  • YTD Total Return 6.7%
  • 3 Yr Annualized Total Return 8.4%
  • 5 Yr Annualized Total Return 8.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.93%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Europe 1.25x Strategy Fund
  • Fund Family Name
    Guggenheim
  • Inception Date
    Jun 21, 2005
  • Shares Outstanding
    N/A
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Byrum

Fund Description

The Fund employs as its investment strategy a program of investing in the common stock of companies that are generally within the capitalization range of the underlying index and derivative instruments, which primarily consist of equity index swaps and swaps on exchange-traded funds ("ETFs"), futures contracts (including currency futures), and options on securities, futures contracts, and stock indices. While the Fund may write (sell) and purchase swaps, it expects primarily to purchase swaps. Swap agreements and futures and options contracts, if used properly, may enable the Fund to meet its objective by increasing the Fund’s exposure to the securities included in the underlying index or to securities whose performance is highly correlated to that of the Fund's benchmark. The Advisor attempts to consistently apply leverage to increase the Fund’s exposure to 125% of the underlying index, and expects to rebalance the Fund's holdings daily to maintain such exposure. The Fund also has 125% exposure to the foreign currencies in which the securities included in the underlying index are denominated. If the U.S. dollar rises in value against a foreign currency, a security denominated in that currency will be worth less in U.S. dollars and if the U.S. dollar decreases in value against a foreign currency, a security denominated in that currency will be worth more in U.S. dollars. As a result, the Fund’s use of derivatives and the leveraged investment exposure created by such use are expected to be significant. Certain of the Fund’s derivatives investments may be traded in the over-the-counter (“OTC”) market. The Fund also may invest in American Depositary Receipts (“ADRs”) to gain exposure to the Fund's benchmark. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in securities of companies in the underlying index and derivatives and other instruments whose performance is expected to correspond to that of the Fund's benchmark.Investments in derivative instruments, such as futures, options and swap agreements, have the economic effect of creating financial leverage in the Fund’s portfolio because such investments may give rise to losses that exceed the amount the Fund has invested in those instruments. Financial leverage will magnify, sometimes significantly, the Fund’s exposure to any increase or decrease in prices associated with a particular reference asset resulting in increased volatility in the value of the Fund’s portfolio. The value of the Fund’s portfolio is likely to experience greater volatility over short-term periods. While such financial leverage has the potential to produce greater gains, it also may result in greater losses, which in some cases may cause the Fund to liquidate other portfolio investments at a loss to comply with limits on leverage imposed by the Investment Company Act of 1940, satisfy margin or collateral requirements, or meet redemption requests.The STOXX Europe 50® Index is a capitalization-weighted index composed of 50 European blue-chip stocks consisting of capitalizations ranging from $3.5 million to $471.8 billion as of June 30, 2023. Index members are chosen by Stoxx Ltd. from 16 countries under criteria designed to identify highly liquid companies that are leaders in their sectors. The Fund’s investment in instruments denominated in foreign currencies exposes the Fund to the risk of fluctuations in the value of such currency in comparison to the U.S. dollar. The Fund generally does not intend to hedge such foreign currency exposure. To the extent the Fund’s underlying index is concentrated in a particular industry the Fund will necessarily be concentrated in that industry. While the Fund’s sector exposure may vary over time, as of June 30, 2023, the Fund has significant exposure to the Consumer Discretionary Sector, Consumer Staples Sector, Energy Sector, Financials Sector, Health Care Sector, Industrials Sector, and Information Technology Sector, as each sector is defined by the Global Industry Classification Standard, a widely recognized industry classification methodology developed by MSCI, Inc. and Standard & Poor’s Financial Services LLC. Also, as of June 30, 2023, the underlying index components, and thus the Fund’s investments, are concentrated (i.e., more than 25% of its assets) in securities issued by companies in the Pharmaceuticals Industry, a separate industry within the Health Care Sector. The industries in which the underlying index components, and thus the Fund's investments, may be concentrated will vary as the composition of the underlying index changes over time.On a day-to-day basis, the Fund may hold U.S. government securities or cash equivalents. The Fund also may enter into repurchase agreements with counterparties that are deemed to present acceptable credit risks. In an effort to ensure that the Fund is fully invested on a day-to-day basis, the Fund may conduct any necessary trading activity at or just prior to the close of the U.S. financial markets. The Fund is non-diversified and, therefore, may invest a greater percentage of its assets in a particular issuer in comparison to a diversified fund.The Fund may invest a portion of its assets, and at times, a substantial portion of its assets, in other short-term fixed-income investment companies advised by the Advisor, or an affiliate of the Advisor, for various purposes, including for liquidity management purposes (e.g., to increase yield on liquid investments used to collateralize derivatives positions) or when such investment companies present a more cost-effective investment option than direct investments in the underlying securities. Investments in these investment companies will significantly increase the portfolio’s exposure to certain other asset categories, including: (i) a broad range of high yield, high risk debt securities rated below the top four long-term rating categories by a nationally recognized statistical rating organization or, if unrated, determined by the Advisor to be of comparable quality (also known as “junk bonds”); (ii) securities issued by the U.S. government or its agencies and instrumentalities; (iii) collateralized loan obligations (“CLOs”), other asset-backed securities (including mortgage-backed securities) and similarly structured debt investments; and (iv) other short-term fixed income securities. Such investments will expose the Fund to the risks of these asset categories and increases or decreases in the value of these investments may cause the Fund to deviate from its investment objective.
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RYAEX - Performance

Return Ranking - Trailing

Period RYAEX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.7% -26.8% 90.2% 61.39%
1 Yr 19.8% -54.1% 283.9% 76.58%
3 Yr 8.4%* -63.0% 52.0% 37.97%
5 Yr 8.6%* -48.3% 58.7% 49.36%
10 Yr 3.4%* -47.8% 45.8% 72.79%

* Annualized

Return Ranking - Calendar

Period RYAEX Return Category Return Low Category Return High Rank in Category (%)
2023 18.7% -56.9% 257.9% 65.19%
2022 -12.5% -91.0% 124.5% 10.76%
2021 19.1% -79.4% 168.2% 65.19%
2020 -4.5% -97.4% 132.6% 69.62%
2019 29.3% -53.1% 229.8% 80.13%

Total Return Ranking - Trailing

Period RYAEX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.7% -26.8% 90.2% 61.39%
1 Yr 19.8% -54.1% 283.9% 76.58%
3 Yr 8.4%* -63.0% 52.0% 37.97%
5 Yr 8.6%* -48.3% 58.7% 49.36%
10 Yr 3.4%* -47.8% 45.8% 72.79%

* Annualized

Total Return Ranking - Calendar

Period RYAEX Return Category Return Low Category Return High Rank in Category (%)
2023 19.5% -55.8% 259.6% 65.82%
2022 -12.5% -91.0% 130.7% 10.76%
2021 19.1% -79.4% 168.2% 70.89%
2020 0.3% -97.4% 132.6% 67.09%
2019 29.9% -52.7% 231.9% 80.77%

NAV & Total Return History


RYAEX - Holdings

Concentration Analysis

RYAEX Category Low Category High RYAEX % Rank
Net Assets 1.44 M 845 K 21.7 B 99.40%
Number of Holdings 58 4 1995 46.91%
Net Assets in Top 10 2.39 M 1.07 M 7.43 B 91.36%
Weighting of Top 10 62.60% 10.5% 104.4% 45.68%

Top 10 Holdings

  1. J.P. Morgan Securities LLC 21.51%
  2. BofA Securities, Inc. 17.33%
  3. U.S. Treasury Bills 6.04%
  4. Novo Nordisk A/S 3.16%
  5. Nestle S.A. 2.90%
  6. ASML Holding N.V. 2.87%
  7. First American Government Obligations Fund - Class X 2.81%
  8. Shell plc 2.03%
  9. LVMH Moet Hennessy Louis Vuitton SE 1.97%
  10. AstraZeneca plc 1.96%

Asset Allocation

Weighting Return Low Return High RYAEX % Rank
Stocks
54.61% 0.00% 108.93% 74.69%
Other
40.51% -39.50% 100.16% 9.88%
Bonds
6.04% 0.00% 59.38% 15.43%
Cash
2.81% 0.00% 123.56% 53.70%
Convertible Bonds
0.08% 0.00% 0.32% 11.73%
Preferred Stocks
0.00% 0.00% 3.17% 80.25%

Stock Sector Breakdown

Weighting Return Low Return High RYAEX % Rank
Healthcare
23.86% 0.00% 100.00% 9.60%
Consumer Defense
17.41% 0.00% 52.46% 4.80%
Financial Services
12.47% 0.00% 100.00% 47.20%
Technology
8.68% 0.00% 100.00% 57.60%
Energy
8.47% 0.00% 100.00% 8.80%
Industrials
8.31% 0.00% 100.00% 28.80%
Consumer Cyclical
7.76% 0.00% 94.15% 60.00%
Basic Materials
7.41% 0.00% 100.00% 16.00%
Communication Services
3.38% 0.00% 100.00% 55.20%
Utilities
2.25% 0.00% 100.00% 32.80%
Real Estate
0.00% 0.00% 100.00% 83.20%

Stock Geographic Breakdown

Weighting Return Low Return High RYAEX % Rank
US
54.61% 0.00% 108.93% 74.69%
Non US
0.00% 0.00% 20.00% 80.86%

Bond Sector Breakdown

Weighting Return Low Return High RYAEX % Rank
Corporate
3.00% 0.00% 28.64% 17.29%
Cash & Equivalents
2.81% 0.00% 123.13% 32.91%
Securitized
2.70% 0.00% 24.07% 14.29%
Derivative
1.67% -50.11% 24.97% 23.42%
Government
0.25% 0.00% 7.50% 15.79%
Municipal
0.00% 0.00% 0.02% 82.71%

Bond Geographic Breakdown

Weighting Return Low Return High RYAEX % Rank
US
6.04% 0.00% 59.38% 15.43%
Non US
0.00% 0.00% 0.00% 80.25%

RYAEX - Expenses

Operational Fees

RYAEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.81% 0.68% 8.96% 45.57%
Management Fee 0.90% 0.00% 0.95% 94.01%
12b-1 Fee 0.25% 0.00% 1.00% 66.14%
Administrative Fee 0.25% 0.03% 0.25% 82.86%

Sales Fees

RYAEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.75% 4.75% 4.75% 90.91%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

RYAEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

RYAEX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 266.00% 100.00%

RYAEX - Distributions

Dividend Yield Analysis

RYAEX Category Low Category High RYAEX % Rank
Dividend Yield 0.62% 0.00% 19.40% 49.10%

Dividend Distribution Analysis

RYAEX Category Low Category High Category Mod
Dividend Distribution Frequency None Quarterly Monthly Quarterly

Net Income Ratio Analysis

RYAEX Category Low Category High RYAEX % Rank
Net Income Ratio -0.93% -2.77% 2.92% 61.39%

Capital Gain Distribution Analysis

RYAEX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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RYAEX - Fund Manager Analysis

Managers

Michael Byrum


Start Date

Tenure

Tenure Rank

May 08, 2000

22.08

22.1%

Michael P. Byrum, CFA, Senior Vice President—Mr. Byrum has been associated with the Security Investors since 1993. Mr. Byrum was the inaugural portfolio manager for many of the Rydex products, including the Rydex leveraged and inverse funds, sector fund lineup and alternative investment portfolios. Today, Mr. Byrum continues to play an instrumental role in product development and investment strategy at Guggenheim Investments and oversees the trading, research and portfolio management activities of the quantitative strategies team, which focuses on target beta, alternative and asset allocation strategies. He is the chairman of the Investment Strategy Committee and is a member of the Risk Management Committee and Credit Review Committee. Prior to joining the Security Investors, Mr. Byrum served in a brokerage capacity with Money Management Associates, the registered investment advisor to Rushmore Funds, Inc. He earned a B.S. in finance from the Miami University of Ohio. He also has earned the right to use the Chartered Financial Analyst® designation and is a member of the CFA Institute and the CFA Society of Washington.

Ryan Harder


Start Date

Tenure

Tenure Rank

Mar 14, 2008

14.22

14.2%

Ryan A. Harder, CFA, Managing Director and Portfolio Manager of Security Investors. Mr. Harder joined the Investment Manager in 2010.He also joined Rydex Investments in 2004 as an assistant portfolio manager, was promoted to portfolio manager in 2005 and has served in his current capacity since 2008. Prior to joining Rydex Investments, he served in various capacities with WestLB Asset Management, including as an assistant portfolio manager, and worked in risk management at CIBC World Markets.He holds a B.A. in Economics from Brock University in Ontario, Canada and a Master of Science in International Securities, Investment and Banking from the ICMA Centre at the University of Reading in the U.K. Harder holds the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
1.79 28.9 9.84 4.09