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Trending ETFs

Inverse NASDAQ-100 Strategy Fund

mutual fund
RYAIX
Payout Change
Pending
Price as of:
$15.95 -0.03 -0.19%
primary theme
Inverse Equity
RYAIX (Mutual Fund)

Inverse NASDAQ-100 Strategy Fund

Payout Change
Pending
Price as of:
$15.95 -0.03 -0.19%
primary theme
Inverse Equity
RYAIX (Mutual Fund)

Inverse NASDAQ-100 Strategy Fund

Payout Change
Pending
Price as of:
$15.95 -0.03 -0.19%
primary theme
Inverse Equity

Name

As of 10/02/2024

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

$15.95

$15.7 M

5.43%

$0.87

1.56%

Vitals

YTD Return

-11.6%

1 yr return

-22.3%

3 Yr Avg Return

-9.8%

5 Yr Avg Return

-20.5%

Net Assets

$15.7 M

Holdings in Top 10

100.1%

52 WEEK LOW AND HIGH

$16.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.56%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 23.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/02/2024

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

$15.95

$15.7 M

5.43%

$0.87

1.56%

RYAIX - Profile

Distributions

  • YTD Total Return -11.6%
  • 3 Yr Annualized Total Return -9.8%
  • 5 Yr Annualized Total Return -20.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -1.22%
DIVIDENDS
  • Dividend Yield 5.4%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Inverse NASDAQ-100 Strategy Fund
  • Fund Family Name
    Guggenheim
  • Inception Date
    Sep 03, 1998
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Byrum

Fund Description

Unlike a traditional index fund, the Fund’s investment objective is to perform opposite the underlying index, and the Fund generally will not own the securities included in the underlying index. Instead, the Fund employs as its investment strategy a program of engaging in short sales of securities included in the underlying index and investing to a significant extent in derivative instruments, which primarily consist of equity index swaps and swaps on exchange-traded funds (“ETFs”), futures contracts, and options on securities, futures contracts, and stock indices. The Advisor expects to rebalance the Fund's positions daily to maintain exposure that is opposite to that of the underlying index. While the Fund may write (sell) and purchase swaps, it expects primarily to write swaps. The Fund’s investment in derivatives serves as a substitute for directly selling short each of the securities included in the underlying index and produces inverse exposure to the underlying index. 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 inverse exposure to international companies included in the underlying index. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in financial instruments with economic characteristics that should perform opposite to the securities of companies included in the underlying index.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 NASDAQ-100 Index® is a modified capitalization-weighted index composed of 100 of the largest non-financial companies listed on The Nasdaq Stock Market with capitalizations ranging from $10.4 billion to $3.3 trillion as of June 30, 2024. 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 Semiconductors & Semiconductor Equipment Industry, a separate industry within the Information Technology 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 Communication Services Sector, Consumer Discretionary 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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RYAIX - Performance

Return Ranking - Trailing

Period RYAIX Return Category Return Low Category Return High Rank in Category (%)
YTD -11.6% -77.6% 21.3% 31.50%
1 Yr -22.3% -82.1% 7.8% 37.01%
3 Yr -9.8%* -69.0% 4.6% 41.73%
5 Yr -20.5%* -78.1% 3.7% 44.00%
10 Yr -17.5%* -70.7% 12.9% 40.87%

* Annualized

Return Ranking - Calendar

Period RYAIX Return Category Return Low Category Return High Rank in Category (%)
2023 -34.7% -85.3% 15.3% 74.02%
2022 35.9% -73.7% 116.7% 14.96%
2021 -24.9% -80.9% 94.9% 45.67%
2020 -41.0% -96.0% 153.8% 47.24%
2019 -28.2% -84.0% -9.3% 34.40%

Total Return Ranking - Trailing

Period RYAIX Return Category Return Low Category Return High Rank in Category (%)
YTD -11.6% -77.6% 21.3% 31.50%
1 Yr -22.3% -82.1% 7.8% 37.01%
3 Yr -9.8%* -69.0% 4.6% 41.73%
5 Yr -20.5%* -78.1% 3.7% 44.00%
10 Yr -17.5%* -70.7% 12.9% 40.87%

* Annualized

Total Return Ranking - Calendar

Period RYAIX Return Category Return Low Category Return High Rank in Category (%)
2023 -31.7% -84.6% 18.9% 71.65%
2022 35.9% -73.6% 117.2% 16.54%
2021 -24.9% -80.9% 94.9% 45.67%
2020 -41.0% -95.9% 153.8% 47.24%
2019 -27.7% -83.8% -8.6% 35.20%

NAV & Total Return History


RYAIX - Holdings

Concentration Analysis

RYAIX Category Low Category High RYAIX % Rank
Net Assets 15.7 M 269 K 3.02 B 45.38%
Number of Holdings 14 4 799 26.15%
Net Assets in Top 10 18.7 M 352 K 3.46 B 40.77%
Weighting of Top 10 100.05% 37.3% 230.5% 30.77%

Top 10 Holdings

  1. J.P. Morgan Securities LLC 33.99%
  2. BofA Securities, Inc. 26.80%
  3. Federal Home Loan Bank 8.04%
  4. U.S. Treasury Bills 7.51%
  5. Guggenheim Strategy Fund II 6.53%
  6. Federal Home Loan Bank 5.87%
  7. Guggenheim Ultra Short Duration Fund - Institutional Class 4.65%
  8. U.S. Treasury Bills 2.68%
  9. U.S. Treasury Bills 2.65%
  10. U.S. Treasury Bills 1.33%

Asset Allocation

Weighting Return Low Return High RYAIX % Rank
Other
60.48% -39.42% 156.23% 43.08%
Bonds
28.08% 0.00% 92.50% 16.92%
Stocks
11.17% -106.26% 100.00% 15.38%
Cash
0.26% 0.00% 237.06% 88.46%
Convertible Bonds
0.06% 0.00% 2.47% 13.85%
Preferred Stocks
0.00% 0.00% 0.00% 15.38%

Stock Sector Breakdown

Weighting Return Low Return High RYAIX % Rank
Utilities
0.00% 0.00% 5.05% 66.67%
Technology
0.00% 0.00% 30.00% 70.83%
Real Estate
0.00% 0.00% 4.40% 66.67%
Industrials
0.00% 0.00% 10.52% 66.67%
Healthcare
0.00% 0.00% 14.47% 66.67%
Financial Services
0.00% 0.00% 100.00% 70.83%
Energy
0.00% 0.00% 100.00% 12.50%
Communication Services
0.00% 0.00% 40.00% 70.83%
Consumer Defense
0.00% 0.00% 7.68% 66.67%
Consumer Cyclical
0.00% 0.00% 30.00% 70.83%
Basic Materials
0.00% 0.00% 3.58% 66.67%

Stock Geographic Breakdown

Weighting Return Low Return High RYAIX % Rank
US
11.17% -106.26% 100.00% 15.38%
Non US
0.00% 0.00% 20.00% 16.92%

Bond Sector Breakdown

Weighting Return Low Return High RYAIX % Rank
Government
6.98% 0.00% 99.07% 18.11%
Corporate
1.35% 0.00% 8.61% 15.75%
Securitized
1.21% 0.00% 15.54% 15.75%
Cash & Equivalents
0.00% 0.00% 237.06% 58.27%
Municipal
0.00% 0.00% 0.06% 22.05%
Derivative
-0.31% -90.95% 8.63% 32.28%

Bond Geographic Breakdown

Weighting Return Low Return High RYAIX % Rank
US
28.08% 0.00% 92.50% 16.92%
Non US
0.00% 0.00% 2.96% 19.23%

RYAIX - Expenses

Operational Fees

RYAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.56% 0.59% 8.36% 64.57%
Management Fee 0.90% 0.35% 1.50% 72.31%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.25% 0.03% 0.45% 30.00%

Sales Fees

RYAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.75% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

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

RYAIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 23.00% 0.00% 181.00% 56.45%

RYAIX - Distributions

Dividend Yield Analysis

RYAIX Category Low Category High RYAIX % Rank
Dividend Yield 5.43% 0.00% 17.26% 40.77%

Dividend Distribution Analysis

RYAIX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annually Quarterly Quarterly

Net Income Ratio Analysis

RYAIX Category Low Category High RYAIX % Rank
Net Income Ratio -1.22% -7.24% 3.75% 43.10%

Capital Gain Distribution Analysis

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

Distributions History

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RYAIX - Fund Manager Analysis

Managers

Michael Byrum


Start Date

Tenure

Tenure Rank

Sep 03, 1998

23.76

23.8%

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
0.16 23.76 9.04 14.22