Updates

Throughout August, Guggenheim will conduct reverse share splits for a total of 10 Rydex mutual funds and 4 Variable Trust Funds. The share splits will occur in three phases. In phase one, shareholders of record on August 7, 2020 for 4 mutual funds will see reverse share splits. Phase two will include reverse share splits for six Rydex funds for shareholders of record on August 14, 2020. Phase three will include a reverse share split for 4 Rydex Variable Trust funds for shareholders of record on August 21, 2020. Share splits will apply to all classes of shares and will not impact the aggregate value of assets as a result of the share splits.

To learn more:

Recent Tax Updates

The following tax relief actions have been extended to Individual Retirement Account (IRA) owners due to the impacts of COVID-19:

• The IRS has extended the deadline for making IRA contributions for 2019 to July 15, 2020.
• The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law which eliminated the Required Minimum Distribution (RMD) for the 2020 tax year.

Please contact our Client Services Team at 800.820.0888 if you have any questions about your account.

This update is for informational purposes only and does not constitute accounting, legal, or tax advice. You should consult with your own accounting, legal, or tax advisors if you have any questions about how these updates affect you.

GO PAPERLESS: Sign up for eDelivery today!

Receive your account documents electronically - including monthly or quarterly statements, transaction confirmations, and fund prospectuses - by joining Guggenheim's eDelivery service today! To register or update your document delivery preferences, simply log in to your account(s) online, select "Profile" from the left-hand navigation menu, and click on the "Edit eDelivery" button at the bottom of the page.

To learn more: 

• Review our Frequently Asked Questions
• Contact 800.487.9339

Guggenheim Announces C to A Class Conversion Effective August 10, 2018

Effective August 10, 2018 C Class shares of each Guggenheim and Rydex Mutual Fund will automatically convert to an A Class share of the same fund on or about the 10th day of the month following the 10 year anniversary date of the purchase of the C Class shares. This conversion will be executed without any sales charge, fee or other charge. After the conversion takes place, the shares will be subject to the expenses of A class shares.

For additional information shareholders should call Guggenheim Client Services at 800.820.0888. Financial Professionals should call 800.345.7999.

Important Information Regarding C Class Trading Groups

When C Class shares reach their 120-month or 10 year anniversary of purchase, they will automatically convert to A Class shares in a new A Class account that is outside the existing trading group. Financial Professionals will be able to view the new A Class share accounts through their TradeRydex.com log-in. However, trades placed for a C Class trading group will not be executed in the new A Class accounts. Trades in C Class and A Class accounts can only be done separately. To establish a new A Class trading group, Financial Professionals must contact Guggenheim Client Services at 800.820.0888.

Important Notice: Mailing Address Change

On October 16, 2017, the mail delivery locations for Guggenheim Investments shareholder
correspondence and transaction requests will change to:

Guggenheim Investments                                 Guggenheim Investments
P.O. Box 10839                                                 805 King Farm Boulevard, Suite 600
Rockville, MD 20849-0839                                Rockville, MD 20850

Please change your records to reflect our new addresses. Use these new addresses beginning on
October 16 to ensure your requests are handled in a timely manner.
For more information, contact our Client Services Team at 800.820.0888.

Read a prospectus and summary prospectus (if available) carefully before investing. It contains the investment objective, risks, charges, expenses, and the other information which should be considered carefully before investing. To obtain a prospectus and summary prospectus (if available), visit GuggenheimInvestments.com or call 800.820.0888.

Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC (“Guggenheim”), which includes Security Investors, LLC (“SI”), Guggenheim Funds Investment Advisors, LLC, (“GFIA”) and Guggenheim Partners Investment Management (“GPIM”), the investment advisers to the referenced funds. Securities offered through Guggenheim Funds Distributors, LLC, an affiliate of Guggenheim, SI, GFIA, and GPIM. © 2019 Guggenheim Investments. All rights reserved.