Fund
RYGTX
Price as of:
$59.72
+ $0.08
+ 0.13%
Primary Theme
fund company
Name
As of 06/02/2026Price
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
0.6%
1 yr return
8.5%
3 Yr Avg Return
7.1%
5 Yr Avg Return
0.2%
Net Assets
$1.16 M
Holdings in Top 10
62.6%
52 WEEK LOW AND HIGH
$59.6
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.64%
SALES FEES
Front Load N/A
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 06/02/2026Price
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
RYGTX - Profile
Distributions
- YTD Total Return 0.6%
- 3 Yr Annualized Total Return 7.1%
- 5 Yr Annualized Total Return 0.2%
- Capital Gain Distribution Frequency Semi-Annually
- Net Income Ratio -1.52%
- Dividend Yield 1.8%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameEmerging Markets Bond Strategy Fund
-
Fund Family NameGuggenheim
-
Inception DateOct 08, 2013
-
Shares OutstandingN/A
-
Share ClassH
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Byrum
Fund Description
The Fund seeks to gain exposure similar to the performance of the emerging markets bond market by investing under normal circumstances at least 80% of its net assets, plus any borrowings for investment purposes, in bonds and financial instruments that in combination have economic characteristics similar to emerging markets bonds. For purposes of the Fund, the emerging markets bond market consists of countries included in the Standard & Poor’s Emerging BMI, as well as countries that are not high-income OECD (Organization for Economic Co-operation and Development) members as defined by the World Bank, and other emerging markets countries as determined by the Advisor.The Fund will invest primarily in emerging markets credit default swaps, swaps on exchange-traded funds ("ETFs"), U.S. Treasury futures, and bonds. By investing in a combination of emerging markets credit default swaps, swaps on ETFs, U.S. Treasury futures, and bonds, the Fund’s portfolio will have the characteristics of emerging markets bonds without having to invest directly in emerging markets bonds. Credit default swaps are instruments which allow for the full or partial transfer of third party credit risk, with respect to a particular entity or entities, from one counterparty to the other. The Fund will normally be a seller of credit protection (assuming credit risk) as it seeks to gain exposure to the emerging markets bond market, but also may buy credit protection from time to time in order to maintain the appropriate level of exposure to the emerging markets bond market, such as during times of heavy redemption activity. U.S. Treasury futures are derivatives that track the prices of specific U.S. Treasury securities. The emerging markets bond market tends to consist of bonds that are rated below investment grade (below BBB-/Baa3) by nationally recognized statistical rating organizations.As part of its primary strategy, the Fund also expects to invest in swaps that provide total return exposure to one or more ETFs, and may invest in other investment companies, consisting of ETFs, mutual funds, unit investment trusts, and closed-end investment companies, and derivatives and other financial instruments with economic characteristics comparable to that of the emerging markets bond market as represented by emerging market bonds. Certain of the investment companies in which the Fund may invest may be advised by the Advisor or otherwise affiliated with the Fund.The Fund derives its exposure to the emerging markets bond market from its investment in credit default swaps and futures, which provide leveraged exposure. Investments in these derivative instruments 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.In addition to its primary strategy, the Fund may, under normal circumstances, buy debt securities to collateralize its derivatives investments, for liquidity purposes, or to enhance yield. The Fund may hold a portfolio of fixed income instruments of varying maturities, but that have an average duration of less than one year. Duration is a measure used to determine the sensitivity of a security’s price to changes in interest rates and is not simply a measure of time. The longer a security’s duration, the more sensitive it will be to changes in interest rates. In particular, the Fund may hold government money market instruments, such as U.S. Treasury securities and U.S. government agency discount notes and bonds with maturities of two years or less. In addition, the Fund may invest in bank obligations, which may include certificates of deposit, commercial paper, asset-backed commercial paper, unsecured bank promissory notes, bank loans, bankers’ acceptances, and time deposits, as well as other short-term instruments, such as loan participations and repurchase agreements. Bank obligations may be issued or backed by U.S. banks or be U.S. dollar-denominated obligations issued or guaranteed by foreign banks. The Fund will enter into repurchase agreements only with counterparties that are deemed to present acceptable credit risks. The Fund also may invest in high yield securities, known as junk bonds, which are debt securities rated below investment grade (below BBB-/Baa3) by nationally recognized statistical rating organizations, or unrated securities that the Advisor believes are of comparable quality.The Fund may invest in sovereign debt securities denominated in foreign currencies or the U.S. dollar. The Advisor may attempt, but is not obligated, to reduce foreign currency exchange rate risk by entering into contracts with banks, brokers or dealers to purchase or sell securities or foreign currencies at a future date (“forward contracts”). The Fund also may invest in privately placed securities that have not been registered for sale under the Securities Act of 1933 pursuant to Rule 144A (“Rule 144A Securities”) which are determined by the Advisor to be liquid.
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RYGTX - Performance
Return Ranking - Trailing
| Period | RYGTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.6% | -0.8% | 39.8% | 89.85% |
| 1 Yr | 8.5% | 3.5% | 72.1% | 86.84% |
| 3 Yr | 7.1%* | 3.7% | 28.9% | 88.72% |
| 5 Yr | 0.2%* | -4.0% | 8.4% | 94.51% |
| 10 Yr | 1.4%* | -2.2% | 8.1% | 95.72% |
* Annualized
Return Ranking - Calendar
| Period | RYGTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2025 | 9.3% | -2.3% | 18.8% | 29.32% |
| 2024 | -5.5% | -11.2% | 6.9% | 67.67% |
| 2023 | 1.8% | -10.6% | 17.8% | 89.47% |
| 2022 | -19.5% | -29.1% | -2.4% | 65.63% |
| 2021 | -5.2% | -24.0% | 2.7% | 14.68% |
Total Return Ranking - Trailing
| Period | RYGTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.6% | -0.8% | 39.8% | 89.85% |
| 1 Yr | 8.5% | 3.5% | 72.1% | 86.84% |
| 3 Yr | 7.1%* | 3.7% | 28.9% | 88.72% |
| 5 Yr | 0.2%* | -4.0% | 8.4% | 94.51% |
| 10 Yr | 1.4%* | -2.2% | 8.1% | 95.72% |
* Annualized
Total Return Ranking - Calendar
| Period | RYGTX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2025 | 11.2% | 5.3% | 32.5% | 86.84% |
| 2024 | 1.3% | -6.1% | 16.9% | 66.17% |
| 2023 | 12.4% | 2.4% | 20.0% | 53.38% |
| 2022 | -19.5% | -24.4% | -1.7% | 92.58% |
| 2021 | -5.2% | -18.5% | 7.4% | 67.06% |
NAV & Total Return History
RYGTX - Holdings
Concentration Analysis
| RYGTX | Category Low | Category High | RYGTX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.16 M | 1.16 M | 14.5 B | 99.62% |
| Number of Holdings | 5 | 4 | 2020 | 98.50% |
| Net Assets in Top 10 | 168 K | -134 M | 1.27 B | 98.12% |
| Weighting of Top 10 | 62.63% | 5.9% | 99.3% | 1.52% |
Top 10 Holdings
- J.P. MORGAN SECURITIES LLC TRI PARTY 35.01%
- MERRILL LYNCH, PIERCE, FENNER SMITH INCORPORATED TRI PARTY 31.82%
- TRS INVESCO EMERGING MARKETS SOVEREIGN DEBT ETF -0.24%
- 10-Year T-Note Futures, Jun-2026,ETH -0.84%
- CDS CDX.EM.45.V1 -3.11%
Asset Allocation
| Weighting | Return Low | Return High | RYGTX % Rank | |
|---|---|---|---|---|
| Other | 62.63% | -12.87% | 86.86% | 0.75% |
| Cash | 37.37% | 0.00% | 34.31% | 11.28% |
| Stocks | 0.00% | -0.01% | 93.83% | 87.59% |
| Preferred Stocks | 0.00% | 0.00% | 5.35% | 80.08% |
| Convertible Bonds | 0.00% | 0.00% | 8.47% | 90.11% |
| Bonds | 0.00% | 0.00% | 100.00% | 99.25% |
RYGTX - Expenses
Operational Fees
| RYGTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.64% | 0.01% | 46.82% | 30.57% |
| Management Fee | 0.75% | 0.00% | 1.10% | 70.30% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 50.00% |
| Administrative Fee | 0.25% | 0.02% | 0.65% | 75.29% |
Sales Fees
| RYGTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.75% | 4.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| RYGTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.75% | 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.
| RYGTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 186.00% | 95.45% |
RYGTX - Distributions
Dividend Yield Analysis
| RYGTX | Category Low | Category High | RYGTX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.78% | 0.00% | 22.22% | 3.01% |
Dividend Distribution Analysis
| RYGTX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| RYGTX | Category Low | Category High | RYGTX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -1.52% | -2.28% | 8.00% | 99.23% |
Capital Gain Distribution Analysis
| RYGTX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Semi-Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 16, 2025 | $1.064 | OrdinaryDividend |
| Dec 12, 2024 | $3.985 | OrdinaryDividend |
| Dec 12, 2023 | $5.781 | OrdinaryDividend |
| Dec 16, 2020 | $0.844 | OrdinaryDividend |
| Dec 17, 2019 | $2.363 | OrdinaryDividend |
| Dec 17, 2019 | $3.832 | CapitalGainShortTerm |
| Dec 19, 2017 | $0.088 | OrdinaryDividend |
| Dec 12, 2017 | $0.089 | OrdinaryDividend |
| Dec 06, 2016 | $3.697 | OrdinaryDividend |
| Jun 09, 2016 | $0.319 | CapitalGainShortTerm |
| Dec 08, 2015 | $12.126 | OrdinaryDividend |
| Dec 23, 2014 | $13.978 | OrdinaryDividend |
RYGTX - Fund Manager Analysis
Managers
Michael Byrum
Start Date
Tenure
Tenure Rank
Oct 08, 2013
8.65
8.7%
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
Oct 08, 2013
8.65
8.7%
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 |
|---|---|---|---|
| 0.15 | 23.87 | 6.68 | 6.11 |