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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

$23.13

$15.6 M

0.21%

$0.05

1.76%

Vitals

YTD Return

13.9%

1 yr return

23.0%

3 Yr Avg Return

7.3%

5 Yr Avg Return

8.0%

Net Assets

$15.6 M

Holdings in Top 10

19.7%

52 WEEK LOW AND HIGH

$23.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.76%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 233.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


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

$23.13

$15.6 M

0.21%

$0.05

1.76%

RYSRX - Profile

Distributions

  • YTD Total Return 13.9%
  • 3 Yr Annualized Total Return 7.3%
  • 5 Yr Annualized Total Return 8.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.30%
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Guggenheim Long Short Equity Fund
  • Fund Family Name
    Guggenheim
  • Inception Date
    Apr 09, 2002
  • Shares Outstanding
    N/A
  • Share Class
    P
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Burak Hurmeydan

Fund Description

The Fund pursues its objective by investing, under normal market conditions, at least 80% of its assets (net assets plus the amount of borrowings for investment purposes) in long and short positions of domestic equity securities or equity-related instruments, including swaps and other derivatives that provide long or short exposure to domestic equity securities. For purposes of determining compliance with the Fund’s 80% investment policy, equity-related derivatives generally will be valued based on their notional value.The Fund seeks to achieve its investment objective by constructing portfolios that maintain long positions in instruments that provide exposure to risk factors the Advisor considers to be undervalued by the equity markets and sells short instruments that provide exposure to risk factors the Advisor considers to be overvalued by the equity markets. The Advisor considers both market risk factors generally and risks specific to the companies in which the Fund invests. To construct the portfolios, the Advisor uses fundamentally-based, forward-looking forecasts of equity cash flows to generate return expectations for individual companies. Then, the expected returns for the universe of stocks is further evaluated using quantitative techniques to estimate the market’s implied valuation of broad market risk factors as well as company-specific risks. Finally, the Advisor applies its proprietary evaluation process to buy long those stocks (or derivatives that give exposure to the stocks) that give the portfolio both the broad risk characteristics and company-specific risks that are perceived to be undervalued and sell short those stocks (or derivatives that give exposure to the stocks) with characteristics that are perceived to be overvalued.The Fund ordinarily will hold long and short positions with total gross exposure of up to 300% of the Fund’s net assets. The Fund’s long and short positions are rebalanced at the beginning of each month to seek optimum exposure subject to this limit on gross exposure. Thereafter and until the next rebalance of the Fund’s portfolio, the extent of the Fund’s gross exposure will vary from day to day in response to market movements and may exceed 300% of the Fund’s net assets. At any point in time, the Fund’s portfolio may be significantly net long or net short.The Fund invests in equity securities, including small-, mid-, and large-capitalization securities, such as U.S. traded common stocks, American Depositary Receipts (“ADRs”) and other investment companies, but also may invest in derivative instruments which primarily consist of total return swaps on baskets of selected equity securities, futures contracts, and options on securities, futures contracts, and stock indices. The Fund’s investments in derivatives enable the Fund to pursue its investment objective without investing directly in the securities of companies to which the Fund is seeking exposure. The Fund also may invest in derivatives to hedge or gain leveraged exposure to a particular industry, style or company depending on market conditions.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 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 enter into short sales of broad-based stock indices for hedging purposes in an effort to reduce portfolio risk or volatility. While the Fund anticipates investing in these instruments to seek to achieve its investment objective, the extent of the Fund’s investment in these instruments may vary from day to day depending on a number of different factors, including price, availability, and general market conditions. On a day-to-day basis, the Fund may hold U.S. government securities, short-term, high quality (rated AA or higher) fixed income securities, money market instruments, overnight and fixed-term repurchase agreements, cash and other cash equivalents with maturities of one year or less to collateralize its derivatives positions or for defensive purposes to seek to avoid losses during adverse market conditions. 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 significant trading activity at or just prior to the close of the U.S. financial markets.Because the Fund seeks to gain exposure to different industries and sectors in the economy, from time to time, the Fund is expected to 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 June 30, 2023, the Fund has significant exposure to the Consumer Discretionary Sector, Consumer Staples Sector, Energy Sector, Financials Sector, Health Care Sector, Industrials Sector, Information Technology Sector, Real Estate Sector, and Utilities 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. 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.
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RYSRX - Performance

Return Ranking - Trailing

Period RYSRX Return Category Return Low Category Return High Rank in Category (%)
YTD 13.9% -10.3% 17.3% 6.43%
1 Yr 23.0% -13.1% 44.0% 22.81%
3 Yr 7.3%* -21.2% 30.6% 25.83%
5 Yr 8.0%* -4.2% 25.2% 41.30%
10 Yr 4.9%* -4.2% 9.9% 45.45%

* Annualized

Return Ranking - Calendar

Period RYSRX Return Category Return Low Category Return High Rank in Category (%)
2023 11.8% -17.3% 43.8% 21.05%
2022 -14.5% -54.0% 17.4% 66.67%
2021 23.3% -40.0% 54.1% 14.00%
2020 5.1% -47.6% 88.4% 41.67%
2019 4.9% -20.3% 62.6% 75.74%

Total Return Ranking - Trailing

Period RYSRX Return Category Return Low Category Return High Rank in Category (%)
YTD 13.9% -10.3% 17.3% 6.43%
1 Yr 23.0% -13.1% 44.0% 22.81%
3 Yr 7.3%* -21.2% 30.6% 25.83%
5 Yr 8.0%* -4.2% 25.2% 41.30%
10 Yr 4.9%* -4.2% 9.9% 45.45%

* Annualized

Total Return Ranking - Calendar

Period RYSRX Return Category Return Low Category Return High Rank in Category (%)
2023 12.8% -14.5% 43.8% 30.99%
2022 -14.2% -54.0% 50.3% 81.41%
2021 23.7% -40.0% 61.6% 20.00%
2020 5.6% -29.9% 91.0% 48.61%
2019 5.8% -17.9% 79.4% 78.68%

NAV & Total Return History


RYSRX - Holdings

Concentration Analysis

RYSRX Category Low Category High RYSRX % Rank
Net Assets 15.6 M 1.04 M 6.15 B 90.70%
Number of Holdings 216 2 1788 27.81%
Net Assets in Top 10 3.04 M 474 K 1.98 B 93.49%
Weighting of Top 10 19.66% 0.4% 101.9% 86.39%

Top 10 Holdings

  1. MS Equity Custom Basket 5.55%
  2. GS Equity Custom Basket 5.51%
  3. Microsoft Corp. 1.81%
  4. Invesco Treasury Obligations Portfolio 1.64%
  5. QUALCOMM, Inc. 0.88%
  6. Merck Company, Inc. 0.86%
  7. Johnson Johnson 0.86%
  8. Toll Brothers, Inc. 0.85%
  9. Visa, Inc. 0.85%
  10. Thermo Fisher Scientific, Inc. 0.85%

Asset Allocation

Weighting Return Low Return High RYSRX % Rank
Stocks
95.05% 0.00% 102.24% 9.47%
Other
4.47% -45.12% 99.51% 8.88%
Cash
1.64% 0.00% 102.08% 94.08%
Preferred Stocks
0.00% 0.00% 8.72% 35.50%
Convertible Bonds
0.00% -0.02% 4.48% 26.38%
Bonds
0.00% 0.00% 95.60% 45.56%

Stock Sector Breakdown

Weighting Return Low Return High RYSRX % Rank
Financial Services
20.36% 0.00% 83.83% 25.35%
Technology
17.93% 0.00% 43.24% 52.11%
Healthcare
14.77% 0.00% 100.00% 48.59%
Consumer Cyclical
11.73% 0.00% 88.83% 28.87%
Utilities
8.16% 0.00% 21.71% 9.86%
Industrials
7.25% 0.00% 31.93% 71.13%
Communication Services
7.17% 0.00% 32.32% 46.48%
Basic Materials
4.34% 0.00% 28.58% 37.32%
Consumer Defense
2.92% 0.00% 33.38% 75.35%
Real Estate
2.87% 0.00% 10.93% 32.39%
Energy
2.49% 0.00% 32.57% 64.79%

Stock Geographic Breakdown

Weighting Return Low Return High RYSRX % Rank
US
95.05% 0.00% 102.24% 7.69%
Non US
0.00% -3.09% 67.69% 37.28%

RYSRX - Expenses

Operational Fees

RYSRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.76% 0.42% 8.51% 65.70%
Management Fee 0.90% 0.00% 2.50% 22.09%
12b-1 Fee 0.25% 0.00% 1.00% 34.74%
Administrative Fee 0.25% 0.03% 1.54% 69.23%

Sales Fees

RYSRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

RYSRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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.

RYSRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 233.00% 0.00% 479.00% 83.70%

RYSRX - Distributions

Dividend Yield Analysis

RYSRX Category Low Category High RYSRX % Rank
Dividend Yield 0.21% 0.00% 26.99% 67.25%

Dividend Distribution Analysis

RYSRX Category Low Category High Category Mod
Dividend Distribution Frequency None Annually Quarterly Annual

Net Income Ratio Analysis

RYSRX Category Low Category High RYSRX % Rank
Net Income Ratio 0.30% -3.33% 2.16% 17.06%

Capital Gain Distribution Analysis

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

Distributions History

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RYSRX - Fund Manager Analysis

Managers

Burak Hurmeydan


Start Date

Tenure

Tenure Rank

Jun 30, 2017

4.92

4.9%

Burak Hurmeydan, Ph.D., is a Director and Portfolio Manager of Guggenheim Partners. Dr. Hurmeydan joined Guggenheim in 2011 as an Analyst of Quantitative Strategies. Before joining Guggenheim, he was a Quantitative Risk/Research Analyst with Citadel Asset Management from 2008 to 2009. He earned his B.S. in Economics from Eastern Mediterranean University and an M.S. degree in Economics from Louisiana State University. Dr. Hurmeydan earned a Ph.D. in Economics with a specialization in Financial Econometrics from Louisiana State University.

Samir Sanghani


Start Date

Tenure

Tenure Rank

Jun 30, 2017

4.92

4.9%

Samir Sanghani’s responsibilities include equity portfolio management, research, and development of strategies as head of the Quantitative Strategies Group in Santa Monica. He also leads a team of fundamental sector analysts covering US equities. Prior to joining Guggenheim in 2008, he was portfolio manager of a value/opportunistic equity hedge fund. Mr. Sanghani also served as VP of Operations and Chief Compliance Officer at a multi-manager hedge fund firm offering fundamental and quantitative equity long/short strategies. Prior to this, he was a Management Consultant for six years at PricewaterhouseCoopers. Mr. Sanghani holds a B.S. degree in Electrical and Computer Engineering from Rice University and an MBA from M.I.T. Sloan School of Management. He has earned the right to use the Chartered Financial Analyst® designation and is a member of the CFA Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 23.55 6.05 7.93