Fund
RYAEX
Price as of:
$119.16
+ $0.88
+ 0.74%
Primary Theme
fund company
Name
As of 11/01/2024Price
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
Vitals
YTD Return
5.5%
1 yr return
15.5%
3 Yr Avg Return
3.1%
5 Yr Avg Return
6.7%
Net Assets
$2.15 M
Holdings in Top 10
185.3%
52 WEEK LOW AND HIGH
$118.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.74%
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 11/01/2024Price
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
RYAEX - Profile
Distributions
- YTD Total Return 5.5%
- 3 Yr Annualized Total Return 3.1%
- 5 Yr Annualized Total Return 6.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.93%
- Dividend Yield 0.6%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameEurope 1.25x Strategy Fund
-
Fund Family NameGuggenheim
-
Inception DateJun 21, 2005
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael 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 $4.1 million to $644.3 billion as of June 30, 2024. 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. As of June 30, 2024, 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. Also, while the Fund’s sector exposure may vary over time, as of June 30, 2024, the Fund has significant exposure to the Consumer Staples 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.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 | 5.5% | -65.3% | 134.5% | 86.71% |
| 1 Yr | 15.5% | -39.3% | 240.1% | 90.51% |
| 3 Yr | 3.1%* | -53.4% | 44.2% | 39.87% |
| 5 Yr | 6.7%* | -40.0% | 58.2% | 51.28% |
| 10 Yr | 4.0%* | -34.5% | 44.4% | 70.29% |
* 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 | 5.5% | -65.3% | 134.5% | 86.71% |
| 1 Yr | 15.5% | -39.3% | 240.1% | 90.51% |
| 3 Yr | 3.1%* | -53.4% | 44.2% | 39.87% |
| 5 Yr | 6.7%* | -40.0% | 58.2% | 51.28% |
| 10 Yr | 4.0%* | -34.5% | 44.4% | 70.29% |
* 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 | 2.15 M | 1.73 M | 22.2 B | 97.60% |
| Number of Holdings | 58 | 5 | 2009 | 47.53% |
| Net Assets in Top 10 | 5.7 M | 1.08 M | 9.23 B | 79.01% |
| Weighting of Top 10 | 185.31% | 13.9% | 185.3% | 1.23% |
Top 10 Holdings
- Novo Nordisk A/S 29.26%
- ASML Holding N.V. 26.15%
- J.P. Morgan Securities LLC 24.02%
- BofA Securities, Inc. 18.94%
- Nestle S.A. 17.18%
- AstraZeneca plc 15.46%
- Shell plc 14.68%
- Novartis AG 13.84%
- SAP SE 13.19%
- LVMH Moet Hennessy Louis Vuitton SE 12.60%
Asset Allocation
| Weighting | Return Low | Return High | RYAEX % Rank | |
|---|---|---|---|---|
| Stocks | 375.12% | 0.00% | 375.12% | 1.23% |
| Other | 43.36% | -7.39% | 99.69% | 8.64% |
| Bonds | 6.14% | 0.00% | 37.59% | 10.49% |
| Cash | 1.53% | 0.00% | 104.72% | 51.23% |
| Convertible Bonds | 0.08% | 0.00% | 0.32% | 10.49% |
| Preferred Stocks | 0.00% | 0.00% | 1.99% | 55.56% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | RYAEX % Rank | |
|---|---|---|---|---|
| Healthcare | 23.86% | 0.00% | 100.00% | 8.80% |
| Consumer Defense | 17.41% | 0.00% | 52.46% | 4.00% |
| Financial Services | 12.47% | 0.00% | 100.00% | 46.40% |
| Technology | 8.68% | 0.00% | 100.00% | 56.80% |
| Energy | 8.47% | 0.00% | 100.00% | 8.00% |
| Industrials | 8.31% | 0.00% | 100.00% | 28.00% |
| Consumer Cyclical | 7.76% | 0.00% | 94.15% | 59.20% |
| Basic Materials | 7.41% | 0.00% | 100.00% | 15.20% |
| Communication Services | 3.38% | 0.00% | 100.00% | 54.40% |
| Utilities | 2.25% | 0.00% | 100.00% | 32.00% |
| Real Estate | 0.00% | 0.00% | 100.00% | 71.20% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | RYAEX % Rank | |
|---|---|---|---|---|
| US | 375.12% | 0.00% | 375.12% | 1.23% |
| Non US | 0.00% | 0.00% | 20.00% | 54.32% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | RYAEX % Rank | |
|---|---|---|---|---|
| Corporate | 3.00% | 0.00% | 28.64% | 16.54% |
| Securitized | 2.70% | 0.00% | 24.07% | 13.53% |
| Cash & Equivalents | 1.53% | 0.00% | 90.05% | 45.57% |
| Derivative | 0.40% | -43.15% | 34.88% | 71.52% |
| Government | 0.25% | 0.00% | 7.50% | 15.04% |
| Municipal | 0.00% | 0.00% | 0.02% | 56.39% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | RYAEX % Rank | |
|---|---|---|---|---|
| US | 6.14% | 0.00% | 37.59% | 10.49% |
| Non US | 0.00% | 0.00% | 0.00% | 54.32% |
RYAEX - Expenses
Operational Fees
| RYAEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.74% | 0.68% | 5.63% | 51.27% |
| Management Fee | 0.90% | 0.00% | 0.95% | 87.43% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 59.84% |
| Administrative Fee | 0.25% | 0.03% | 0.25% | 48.57% |
Sales Fees
| RYAEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.75% | 4.75% | 4.75% | 72.73% |
| 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 | 0.61% | 0.00% | 18.26% | 46.71% |
Dividend Distribution Analysis
| RYAEX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Monthly | Annually |
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
| Date | Amount | Type |
|---|---|---|
| Dec 12, 2023 | $0.745 | OrdinaryDividend |
| Dec 09, 2020 | $4.554 | OrdinaryDividend |
| Dec 10, 2019 | $0.440 | OrdinaryDividend |
| Dec 11, 2018 | $6.302 | OrdinaryDividend |
| Dec 12, 2017 | $0.243 | OrdinaryDividend |
| Nov 29, 2016 | $0.700 | OrdinaryDividend |
| Dec 01, 2015 | $0.728 | OrdinaryDividend |
| Dec 02, 2014 | $0.327 | OrdinaryDividend |
| Dec 04, 2012 | $0.194 | OrdinaryDividend |
| Dec 06, 2007 | $4.216 | CapitalGainShortTerm |
| Dec 06, 2007 | $1.393 | OrdinaryDividend |
| Dec 06, 2006 | $0.707 | OrdinaryDividend |
| Dec 30, 2004 | $2.810 | OrdinaryDividend |
| Dec 30, 2004 | $0.058 | CapitalGainShortTerm |
| Dec 30, 2004 | $0.009 | CapitalGainLongTerm |
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 | 8.67 |