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Guggenheim Multi-Hedge Strategies Fund
mutual fund
RYMQX
Payout Change
Pending
Price as of:
$26.23
-0.04
-0.15%
primary theme
N/A
share class
RYMQX (Mutual Fund)
Guggenheim Multi-Hedge Strategies Fund
Payout Change
Pending
Price as of:
$26.23
-0.04
-0.15%
primary theme
N/A
share class
RYMQX (Mutual Fund)
Guggenheim Multi-Hedge Strategies Fund
Payout Change
Pending
Price as of:
$26.23
-0.04
-0.15%
primary theme
N/A
share class
Name
As of 10/02/2024Price
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
-0.8%
1 yr return
-2.3%
3 Yr Avg Return
-0.3%
5 Yr Avg Return
2.7%
Net Assets
$87.1 M
Holdings in Top 10
46.4%
52 WEEK LOW AND HIGH
$26.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 2.04%
SALES FEES
Front Load 4.75%
Deferred Load N/A
TRADING FEES
Turnover 205.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/02/2024Price
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
RYMQX - Profile
Distributions
- YTD Total Return -0.8%
- 3 Yr Annualized Total Return -0.3%
- 5 Yr Annualized Total Return 2.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.52%
- Dividend Yield 3.1%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameGuggenheim Multi-Hedge Strategies Fund
-
Fund Family NameGuggenheim
-
Inception DateSep 19, 2005
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Byrum
Fund Description
The Fund pursues multiple investment styles or mandates that correspond to investment strategies widely employed by hedge funds. The Advisor may use one or more variations of any or all of the strategies described below. The Advisor’s decision to allocate assets to a particular strategy or strategies is based on a proprietary evaluation of the strategy’s risk and return characteristics.Long/Short Equity—Pursuant to long/short equity investment strategies, portfolio managers seek to profit from investing on both the long and short sides of equity markets;Equity Market Neutral—Pursuant to equity market neutral investment strategies, portfolio managers seek to profit from exploiting pricing relationships between different equities or related securities while typically hedging exposure to overall equity market movements;Fixed Income Strategies—Pursuant to fixed income long and short investment strategies, portfolio managers seek to profit from relationships between different fixed income securities or fixed income and equity securities, and leveraging long and short positions in related securities;Merger Arbitrage—Pursuant to merger arbitrage investment strategies, portfolio managers invest simultaneously in long and short positions in both companies involved in a merger or acquisition; andGlobal Macro—Pursuant to global macro strategies, portfolio managers seek to profit from changes in currencies, commodity prices, fixed income securities, equity securities, and market volatility.Each of these investment strategies may result in a directional bias depending upon the net effect of their constituent holdings. In general, a directional bias seeks to benefit from market movements in one direction or the other and is designed to have high (positive or negative) correlation with market returns. In contrast, a non-directional bias seeks to produce returns that are independent of market returns, resulting in a low correlation with market returns. The Advisor allocates assets to strategies that are both directional and non-directional and expects that the positioning (long or short) of the directional strategies will vary over time.The Fund may use leverage to the extent permitted by applicable law. The Fund’s use of directional and non-directional positions and internal investment controls result in a portfolio of assets designed to provide appropriate hedge fund portfolio characteristics as well as providing risk diversification.The Fund may be long or short in a broad mix of financial assets including small-, mid-, and large-capitalization U.S. and foreign common stocks, currencies, commodities, futures, options, swap agreements, high yield securities, securities of other investment companies, American Depositary Receipts (“ADRs”), closed-end funds, exchange-traded funds (“ETFs”), real estate investment trusts ("REITs") and corporate and sovereign debt. The Fund may write (sell) and purchase swap agreements, including credit default swap agreements. From time to time, the Fund's assets may have significant exposure to one or more market sectors.Investments in derivative instruments, such as futures, options, and forward contracts 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 (the “1940 Act”), satisfy margin or collateral requirements, or meet redemption requests. 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 may hold U.S. government securities or cash equivalents to collateralize its derivatives positions. The Fund also may enter into repurchase agreements with counterparties that are deemed to present acceptable credit risks. The Fund may use leverage to the extent permitted by applicable law by entering into borrowing transactions (principally lines of credit) for investment purposes.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.The Fund also may invest up to 25% of its total assets in a wholly-owned and controlled Cayman Islands subsidiary (the “Subsidiary”) as measured at the end of every quarter of the Fund's taxable year. The Subsidiary is advised by the Advisor and has the same investment objective as the Fund. Unlike the Fund, however, the Subsidiary may invest to a greater extent in commodity-linked derivative instruments. The Subsidiary’s investments in such instruments are subject to limits on leverage imposed by the 1940 Act. The Fund’s investment in the Subsidiary is expected to provide the Fund with an effective means of obtaining exposure (long or short) to the investment returns of global commodities markets.Because the Fund seeks to gain exposure to different industries and sectors in the economy, from time to time, the Fund may invest a significant percentage of its assets in issuers in one or more groups of industries or sectors of the economy. While the Fund’s sector and industry exposure may vary over time, as of March 31, 2024, the Fund has significant exposure to the Consumer Discretionary Sector, Energy Sector, Financials Sector, Health Care Sector, Industrials Sector, and Real Estate 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.
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RYMQX - Performance
Return Ranking - Trailing
| Period | RYMQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.8% | -73.0% | 19.4% | 10.75% |
| 1 Yr | -2.3% | -9.1% | 86.9% | 64.36% |
| 3 Yr | -0.3%* | -9.5% | 16.2% | 24.50% |
| 5 Yr | 2.7%* | -4.9% | 14.4% | 56.05% |
| 10 Yr | 2.1%* | -0.9% | 7.5% | 47.87% |
* Annualized
Return Ranking - Calendar
| Period | RYMQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.1% | -22.7% | 305.1% | 17.04% |
| 2022 | -5.1% | -9.8% | 27.3% | 70.16% |
| 2021 | 6.3% | -20.8% | 10.9% | 32.44% |
| 2020 | 6.3% | -12.4% | 29.4% | 57.43% |
| 2019 | 2.7% | -10.5% | 15.8% | 59.16% |
Total Return Ranking - Trailing
| Period | RYMQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -0.8% | -73.0% | 19.4% | 10.75% |
| 1 Yr | -2.3% | -13.4% | 86.9% | 78.18% |
| 3 Yr | -0.3%* | -9.5% | 16.2% | 47.39% |
| 5 Yr | 2.7%* | -5.3% | 14.4% | 69.06% |
| 10 Yr | 2.1%* | -0.9% | 7.5% | 56.38% |
* Annualized
Total Return Ranking - Calendar
| Period | RYMQX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 4.3% | -22.7% | 305.1% | 17.41% |
| 2022 | -3.5% | -9.8% | 27.3% | 70.97% |
| 2021 | 7.2% | -20.8% | 10.9% | 44.89% |
| 2020 | 7.4% | -8.4% | 29.4% | 72.28% |
| 2019 | 4.8% | -10.2% | 18.0% | 70.16% |
NAV & Total Return History
RYMQX - Holdings
Concentration Analysis
| RYMQX | Category Low | Category High | RYMQX % Rank | |
|---|---|---|---|---|
| Net Assets | 87.1 M | 1.5 M | 5.01 B | 66.42% |
| Number of Holdings | 413 | 4 | 4478 | 43.46% |
| Net Assets in Top 10 | 39 M | -398 M | 2.55 B | 70.67% |
| Weighting of Top 10 | 46.43% | 13.1% | 100.0% | 52.29% |
Top 10 Holdings
- U.S. Treasury Bills 10.79%
- U.S. Treasury Bills 7.96%
- Guggenheim Strategy Fund II 7.91%
- Guggenheim Ultra Short Duration Fund - Institutional Class 6.18%
- J.P. Morgan Securities LLC 2.96%
- BofA Securities, Inc. 2.33%
- Guggenheim Strategy Fund III 2.33%
- Olink Holding AB 2.12%
- Capri Holdings Ltd. 2.09%
- National Western Life Group, Inc. 1.75%
Asset Allocation
| Weighting | Return Low | Return High | RYMQX % Rank | |
|---|---|---|---|---|
| Stocks | 51.49% | -3.75% | 97.95% | 58.66% |
| Cash | 20.51% | -6278.21% | 410.43% | 21.55% |
| Bonds | 18.76% | -326.45% | 6347.80% | 65.37% |
| Other | 9.25% | -21.53% | 148.54% | 33.22% |
| Convertible Bonds | 0.11% | 0.00% | 87.92% | 52.30% |
| Preferred Stocks | 0.00% | -0.12% | 46.97% | 29.33% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | RYMQX % Rank | |
|---|---|---|---|---|
| Technology | 24.52% | 0.00% | 39.58% | 12.60% |
| Financial Services | 15.42% | 0.00% | 59.28% | 11.81% |
| Industrials | 13.10% | 0.00% | 21.45% | 14.17% |
| Consumer Cyclical | 10.43% | 0.00% | 29.09% | 64.17% |
| Communication Services | 10.40% | 0.00% | 21.78% | 88.98% |
| Healthcare | 7.98% | 0.00% | 45.63% | 30.71% |
| Consumer Defense | 5.69% | 0.00% | 13.62% | 94.09% |
| Real Estate | 5.12% | 0.00% | 51.26% | 17.32% |
| Basic Materials | 4.45% | 0.00% | 27.46% | 90.55% |
| Utilities | 2.54% | 0.00% | 9.23% | 72.05% |
| Energy | 0.36% | 0.00% | 100.00% | 49.61% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | RYMQX % Rank | |
|---|---|---|---|---|
| US | 51.49% | -8.85% | 91.88% | 46.29% |
| Non US | 0.00% | -19.62% | 42.11% | 73.85% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | RYMQX % Rank | |
|---|---|---|---|---|
| Corporate | 9.54% | 0.00% | 87.73% | 48.41% |
| Securitized | 7.24% | 0.00% | 56.83% | 27.56% |
| Derivative | 3.96% | 0.00% | 88.81% | 54.77% |
| Municipal | 3.93% | 0.00% | 27.33% | 2.47% |
| Government | 3.37% | 0.00% | 84.29% | 57.95% |
| Cash & Equivalents | 1.64% | 0.27% | 100.00% | 18.73% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | RYMQX % Rank | |
|---|---|---|---|---|
| US | 18.76% | -126.19% | 6311.18% | 56.54% |
| Non US | 0.00% | -382.37% | 121.02% | 56.89% |
RYMQX - Expenses
Operational Fees
| RYMQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.04% | 0.29% | 31.15% | 50.36% |
| Management Fee | 1.19% | 0.00% | 2.50% | 61.13% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 25.00% |
| Administrative Fee | 0.25% | 0.01% | 0.30% | 87.67% |
Sales Fees
| RYMQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.75% | 2.50% | 5.75% | 82.69% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| RYMQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 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.
| RYMQX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 205.00% | 0.00% | 491.00% | 85.89% |
RYMQX - Distributions
Dividend Yield Analysis
| RYMQX | Category Low | Category High | RYMQX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.14% | 0.00% | 4.56% | 10.25% |
Dividend Distribution Analysis
| RYMQX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Quarterly | Annually |
Net Income Ratio Analysis
| RYMQX | Category Low | Category High | RYMQX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.52% | -2.51% | 6.83% | 79.50% |
Capital Gain Distribution Analysis
| RYMQX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 14, 2023 | $0.826 | OrdinaryDividend |
| Dec 14, 2022 | $0.436 | OrdinaryDividend |
| Dec 14, 2021 | $0.214 | OrdinaryDividend |
| Dec 15, 2020 | $0.267 | OrdinaryDividend |
| Dec 12, 2019 | $0.510 | OrdinaryDividend |
| Dec 13, 2018 | $0.039 | OrdinaryDividend |
| Dec 08, 2016 | $0.036 | OrdinaryDividend |
| Dec 11, 2014 | $0.186 | OrdinaryDividend |
| Dec 12, 2011 | $0.165 | OrdinaryDividend |
| Nov 25, 2008 | $0.045 | CapitalGainShortTerm |
| Nov 25, 2008 | $0.014 | CapitalGainLongTerm |
| Nov 25, 2008 | $0.119 | OrdinaryDividend |
| Nov 27, 2007 | $0.001 | CapitalGainShortTerm |
| Nov 27, 2007 | $0.084 | CapitalGainLongTerm |
| Nov 27, 2007 | $0.792 | OrdinaryDividend |
| Nov 27, 2006 | $0.085 | CapitalGainShortTerm |
| Nov 27, 2006 | $0.136 | CapitalGainLongTerm |
| Nov 27, 2006 | $0.384 | OrdinaryDividend |
RYMQX - Fund Manager Analysis
Managers
Michael Byrum
Start Date
Tenure
Tenure Rank
Sep 19, 2005
16.71
16.7%
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
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.
Adrian Bachman
Start Date
Tenure
Tenure Rank
Mar 31, 2022
0.17
0.2%
Mr. Bachman is a Director and Portfolio Manager of Guggenheim Investments and joined Guggenheim Investments in August of 2014. Before joining Guggenheim Investments, Mr. Bachman spent six years at Arrow Investment Advisors. As portfolio manager, Mr. Bachman managed the Arrow Dow Jones Global Yield ETF (GYLD) which provided multi asset class diversified income across five unique sources including high dividend paying global equities, real estate investment trusts, MLPs, sovereign debt and high yield corporate bonds. While at Arrow he also aided in the management of numerous other funds. Before joining Arrow Funds in June of 2008, Mr. Bachman spent eleven years at Rydex Investments in Rockville, Maryland. As portfolio manager, Mr. Bachman managed Rydex's Sector Rotation Fund and several sector funds. During the course of his tenure with Rydex, he also aided in the management of numerous other funds including Rydex's inverse, leveraged and international funds. Mr. Bachman has a bachelor's degree in finance and international business from the University of Maryland, College Park and has earned the Chartered Financial Analyst designation.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.02 | 17.37 | 4.48 | 1.67 |
