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Trending ETFs

Name

As of 03/26/2024

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

$57.24

$331 K

10.10%

$5.78

1.61%

Vitals

YTD Return

-0.4%

1 yr return

10.0%

3 Yr Avg Return

-3.4%

5 Yr Avg Return

-1.3%

Net Assets

$331 K

Holdings in Top 10

89.1%

52 WEEK LOW AND HIGH

$57.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.61%

SALES FEES

Front Load N/A

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 03/26/2024

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

$57.24

$331 K

10.10%

$5.78

1.61%

RYGTX - Profile

Distributions

  • YTD Total Return -0.4%
  • 3 Yr Annualized Total Return -3.4%
  • 5 Yr Annualized Total Return -1.3%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio -1.52%
DIVIDENDS
  • Dividend Yield 10.1%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Emerging Markets Bond Strategy Fund
  • Fund Family Name
    Guggenheim
  • Inception Date
    Oct 08, 2013
  • Shares Outstanding
    N/A
  • Share Class
    H
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Byrum

Fund Description

The Fund seeks to gain exposure similar to the performance of the emerging markets bond market by investing under normal circumstances at least 80% of its net assets, plus any borrowings for investment purposes, in bonds and financial instruments that in combination have economic characteristics similar to emerging markets bonds. For purposes of the Fund, the emerging markets bond market consists of countries included in the Standard & Poor’s Emerging BMI, as well as countries that are not high-income OECD (Organization for Economic Co-operation and Development) members as defined by the World Bank, and other emerging markets countries as determined by the Advisor.The Fund will invest primarily in emerging markets credit default swaps, swaps on exchange-traded funds ("ETFs"), U.S. Treasury futures, and bonds. By investing in a combination of emerging markets credit default swaps, swaps on ETFs, U.S. Treasury futures, and bonds, the Fund’s portfolio will have the characteristics of emerging markets bonds without having to invest directly in emerging markets bonds. Credit default swaps are instruments which allow for the full or partial transfer of third party credit risk, with respect to a particular entity or entities, from one counterparty to the other. The Fund will normally be a seller of credit protection as it seeks to gain exposure to the emerging markets bond market. U.S. Treasury futures are derivatives that track the prices of specific U.S. Treasury securities. The emerging markets bond market tends to consist of bonds that are rated below investment grade (below BBB-/Baa3) by nationally recognized statistical rating organizations.As part of its primary strategy, the Fund also expects to invest in swaps that provide total return exposure to one or more ETFs, and may invest in other investment companies, consisting of ETFs, mutual funds, unit investment trusts, and closed-end investment companies, and derivatives and other financial instruments with economic characteristics comparable to that of the emerging markets bond market as represented by emerging market bonds. Certain of the investment companies in which the Fund may invest may be advised by the Advisor or otherwise affiliated with the Fund.The Fund derives its exposure to the emerging markets bond market from its investment in credit default swaps and futures, which provide leveraged exposure. Investments in these derivative instruments 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.In addition to its primary strategy, the Fund may, under normal circumstances, buy debt securities to collateralize its derivatives investments, for liquidity purposes, or to enhance yield. The Fund may hold a portfolio of fixed income instruments of varying maturities, but that have an average duration of less than one year. Duration is a measure used to determine the sensitivity of a security’s price to changes in interest rates and is not simply a measure of time. The longer a security’s duration, the more sensitive it will be to changes in interest rates. In particular, the Fund may hold government money market instruments, such as U.S. Treasury securities and U.S. government agency discount notes and bonds with maturities of two years or less. In addition, the Fund may invest in bank obligations, which may include certificates of deposit, commercial paper, asset-backed commercial paper, unsecured bank promissory notes, bank loans, bankers’ acceptances, and time deposits, as well as other short-term instruments, such as loan participations and repurchase agreements. Bank obligations may be issued or backed by U.S. banks or be U.S. dollar-denominated obligations issued or guaranteed by foreign banks. The Fund will enter into repurchase agreements only with counterparties that are deemed to present acceptable credit risks. The Fund also may invest in high yield securities, known as junk bonds, which are debt securities rated below investment grade (below BBB-/Baa3) by nationally recognized statistical rating organizations, or unrated securities that the Advisor believes are of comparable quality.The Fund may invest in sovereign debt securities denominated in foreign currencies or the U.S. dollar. The Advisor may attempt, but is not obligated, to reduce foreign currency exchange rate risk by entering into contracts with banks, brokers or dealers to purchase or sell securities or foreign currencies at a future date (“forward contracts”). The Fund also may invest in privately placed securities that have not been registered for sale under the Securities Act of 1933 pursuant to Rule 144A (“Rule 144A Securities”) which are determined by the Advisor to be liquid.The Fund’s strategy may frequently involve buying and selling portfolio securities to rebalance the Fund’s exposure to various market sectors.
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RYGTX - Performance

Return Ranking - Trailing

Period RYGTX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -2.8% 93.3% 79.28%
1 Yr 10.0% -3.8% 112.3% 59.54%
3 Yr -3.4%* -13.6% 21.2% 91.81%
5 Yr -1.3%* -8.7% 12.8% 93.07%
10 Yr 0.0%* -5.2% 6.6% 75.14%

* Annualized

Return Ranking - Calendar

Period RYGTX Return Category Return Low Category Return High Rank in Category (%)
2023 1.8% -10.6% 17.8% 89.14%
2022 -19.5% -29.1% -2.4% 64.97%
2021 -5.2% -24.0% 2.7% 16.38%
2020 2.2% -14.0% 9.7% 24.10%
2019 2.1% -6.4% 13.0% 95.26%

Total Return Ranking - Trailing

Period RYGTX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -2.8% 93.3% 79.28%
1 Yr 10.0% -3.8% 112.3% 59.54%
3 Yr -3.4%* -13.6% 21.2% 91.81%
5 Yr -1.3%* -8.7% 12.8% 93.07%
10 Yr 0.0%* -5.2% 6.6% 75.14%

* Annualized

Total Return Ranking - Calendar

Period RYGTX Return Category Return Low Category Return High Rank in Category (%)
2023 12.4% -0.6% 20.0% 46.38%
2022 -19.5% -27.6% -1.7% 92.18%
2021 -5.2% -18.5% 7.4% 68.29%
2020 3.4% -7.8% 18.0% 73.02%
2019 10.9% -3.0% 23.0% 87.96%

NAV & Total Return History


RYGTX - Holdings

Concentration Analysis

RYGTX Category Low Category High RYGTX % Rank
Net Assets 331 K 331 K 14.4 B 99.34%
Number of Holdings 9 4 1833 98.36%
Net Assets in Top 10 881 K -134 M 1.25 B 98.69%
Weighting of Top 10 89.08% 5.1% 101.4% 0.99%

Top 10 Holdings

  1. J.P. Morgan Securities LLC 48.25%
  2. BofA Securities, Inc. 38.88%
  3. Invesco Emerging Markets Sovereign Debt ETF 1.89%
  4. U.S. Treasury Bills 0.91%
  5. U.S. Treasury 5 Year Note Futures Contracts 0.84%
  6. U.S. Treasury 10 Year Note Futures Contracts 0.41%
  7. Invesco Emerging Markets Sovereign Debt ETF 0.01%
  8. Invesco Emerging Markets Sovereign Debt ETF -0.02%
  9. CDX.EM.40.V1 -2.10%

Asset Allocation

Weighting Return Low Return High RYGTX % Rank
Other
88.17% -9.56% 88.17% 0.33%
Cash
10.92% 0.00% 21.93% 14.10%
Bonds
0.91% 0.91% 99.54% 99.34%
Stocks
0.00% -0.01% 93.55% 80.33%
Preferred Stocks
0.00% 0.00% 1.28% 73.11%
Convertible Bonds
0.00% 0.00% 8.47% 90.73%

Bond Sector Breakdown

Weighting Return Low Return High RYGTX % Rank
Derivative
1.04% -2.00% 7.35% 4.92%
Cash & Equivalents
0.00% 0.00% 23.23% 93.44%
Securitized
0.00% 0.00% 2.41% 76.82%
Corporate
0.00% 0.00% 93.26% 98.68%
Municipal
0.00% 0.00% 0.00% 71.85%
Government
0.00% 0.00% 99.79% 99.34%

Bond Geographic Breakdown

Weighting Return Low Return High RYGTX % Rank
US
0.91% -42.31% 99.01% 92.79%
Non US
0.00% 0.00% 132.49% 95.08%

RYGTX - Expenses

Operational Fees

RYGTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.61% 0.02% 35.56% 30.26%
Management Fee 0.75% 0.00% 1.10% 70.49%
12b-1 Fee 0.25% 0.00% 1.00% 48.57%
Administrative Fee 0.25% 0.02% 0.65% 78.10%

Sales Fees

RYGTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

RYGTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% 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.

RYGTX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 218.00% 95.45%

RYGTX - Distributions

Dividend Yield Analysis

RYGTX Category Low Category High RYGTX % Rank
Dividend Yield 10.10% 0.00% 22.11% 2.62%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

RYGTX Category Low Category High RYGTX % Rank
Net Income Ratio -1.52% -2.28% 8.00% 99.33%

Capital Gain Distribution Analysis

RYGTX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

Distributions History

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RYGTX - Fund Manager Analysis

Managers

Michael Byrum


Start Date

Tenure

Tenure Rank

Oct 08, 2013

8.65

8.7%

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

Oct 08, 2013

8.65

8.7%

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
0.08 23.87 6.38 6.11