Continue to site >
Trending ETFs
You have successfully subscribed to Advisor Access. Thank you!
Help us personalize your experience.
Which type of investor describes you best?
Help us personalize your experience.
What is your AUM?
Knowing your investable assets will help us build and prioritize features that will suit your investment needs.

Congratulations on personalizing your experience.

Email is verified. Thank you!

Name

As of 06/01/2026

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

Multi-Hedge Strategies Fund

RYMSX | Fund

$24.11

$9.58 M

9.59%

$2.31

2.12%

Vitals

YTD Return

5.0%

1 yr return

8.8%

3 Yr Avg Return

1.7%

5 Yr Avg Return

0.2%

Net Assets

$9.58 M

Holdings in Top 10

54.8%

52 WEEK LOW AND HIGH

$24.1
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.12%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 205.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$0

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 06/01/2026

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

Multi-Hedge Strategies Fund

RYMSX | Fund

$24.11

$9.58 M

9.59%

$2.31

2.12%

RYMSX - Profile

Distributions

  • YTD Total Return 5.0%
  • 3 Yr Annualized Total Return 1.7%
  • 5 Yr Annualized Total Return 0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.53%
DIVIDENDS
  • Dividend Yield 9.6%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Multi-Hedge Strategies Fund
  • Fund Family Name
    Guggenheim
  • Inception Date
    Sep 19, 2005
  • Shares Outstanding
    N/A
  • Share Class
    P
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael 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; and Global 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, 2025, the Fund has significant exposure to the Financials 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.
Read More

RYMSX - Performance

Return Ranking - Trailing

Period RYMSX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.0% -73.0% 19.4% 10.04%
1 Yr 8.8% -9.1% 86.9% 64.00%
3 Yr 1.7%* -9.5% 16.2% 23.69%
5 Yr 0.2%* -4.9% 14.4% 53.81%
10 Yr 2.2%* -0.9% 7.5% 45.74%

* Annualized

Return Ranking - Calendar

Period RYMSX Return Category Return Low Category Return High Rank in Category (%)
2025 -7.7% -22.7% 305.1% 16.67%
2024 -6.3% -9.8% 27.3% 70.56%
2023 1.2% -20.8% 10.9% 29.78%
2022 -5.0% -12.4% 29.4% 57.92%
2021 6.4% -10.5% 15.8% 60.21%

Total Return Ranking - Trailing

Period RYMSX Return Category Return Low Category Return High Rank in Category (%)
YTD 5.0% -73.0% 19.4% 10.04%
1 Yr 8.8% -13.4% 86.9% 59.27%
3 Yr 1.7%* -9.5% 16.2% 22.09%
5 Yr 0.2%* -5.3% 14.4% 48.43%
10 Yr 2.2%* -0.9% 7.5% 43.62%

* Annualized

Total Return Ranking - Calendar

Period RYMSX Return Category Return Low Category Return High Rank in Category (%)
2025 1.6% -22.7% 305.1% 17.04%
2024 -3.6% -9.8% 27.3% 71.37%
2023 4.3% -20.8% 10.9% 41.78%
2022 -3.4% -8.4% 29.4% 72.77%
2021 7.2% -10.2% 18.0% 71.20%

NAV & Total Return History

RYMSX - Holdings

Concentration Analysis

RYMSX Category Low Category High RYMSX % Rank
Net Assets 9.58 M 1.5 M 5.01 B 66.05%
Number of Holdings 334 4 4478 43.11%
Net Assets in Top 10 5.85 M -398 M 2.55 B 70.32%
Weighting of Top 10 54.84% 13.1% 100.0% 51.83%

Top 10 Holdings

  1. Guggenheim Ultra Short Duration Fund - Institutional Class 15.47%
  2. Guggenheim Strategy Fund II 10.49%
  3. Guggenheim Strategy Fund III 6.04%
  4. U.S. Treasury Bills 4.68%
  5. U.S. Treasury Bills 3.80%
  6. J.P. Morgan Securities LLC 3.67%
  7. BofA Securities, Inc. 3.67%
  8. MS Long/Short Equity Custom Basket 2.90%
  9. Frontier Communications Parent, Inc. 2.11%
  10. Chart Industries, Inc. 2.00%

Asset Allocation

Weighting Return Low Return High RYMSX % Rank
Stocks 		55.87% -3.75% 97.95% 58.30%
Cash 		23.61% -6278.21% 410.43% 21.20%
Other 		12.05% -21.53% 148.54% 32.86%
Bonds 		8.48% -326.45% 6347.80% 65.02%
Convertible Bonds 		0.11% 0.00% 87.92% 51.94%
Preferred Stocks 		0.00% -0.12% 46.97% 28.98%

Stock Sector Breakdown

Weighting Return Low Return High RYMSX % Rank
Technology 		24.52% 0.00% 39.58% 12.20%
Financial Services 		15.42% 0.00% 59.28% 11.42%
Industrials 		13.10% 0.00% 21.45% 13.78%
Consumer Cyclical 		10.43% 0.00% 29.09% 63.78%
Communication Services 		10.40% 0.00% 21.78% 88.58%
Healthcare 		7.98% 0.00% 45.63% 30.31%
Consumer Defense 		5.69% 0.00% 13.62% 93.70%
Real Estate 		5.12% 0.00% 51.26% 16.93%
Basic Materials 		4.45% 0.00% 27.46% 90.16%
Utilities 		2.54% 0.00% 9.23% 71.65%
Energy 		0.36% 0.00% 100.00% 49.21%

Stock Geographic Breakdown

Weighting Return Low Return High RYMSX % Rank
US 		55.87% -8.85% 91.88% 45.94%
Non US 		0.00% -19.62% 42.11% 73.50%

Bond Sector Breakdown

Weighting Return Low Return High RYMSX % Rank
Corporate 		9.54% 0.00% 87.73% 48.06%
Securitized 		7.24% 0.00% 56.83% 27.21%
Derivative 		4.70% 0.00% 88.81% 54.42%
Municipal 		3.93% 0.00% 27.33% 2.12%
Government 		3.37% 0.00% 84.29% 57.60%
Cash & Equivalents 		0.00% 0.27% 100.00% 18.37%

Bond Geographic Breakdown

Weighting Return Low Return High RYMSX % Rank
US 		8.48% -126.19% 6311.18% 56.18%
Non US 		0.00% -382.37% 121.02% 56.54%

RYMSX - Expenses

Operational Fees

RYMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.12% 0.29% 31.15% 50.00%
Management Fee 1.19% 0.00% 2.50% 60.78%
12b-1 Fee 0.25% 0.00% 1.00% 24.32%
Administrative Fee 0.25% 0.01% 0.30% 86.30%

Sales Fees

RYMSX 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% 5.00% N/A

Trading Fees

RYMSX 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.

RYMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 205.00% 0.00% 491.00% 85.48%

RYMSX - Distributions

Dividend Yield Analysis

RYMSX Category Low Category High RYMSX % Rank
Dividend Yield 9.59% 0.00% 4.56% 9.89%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

RYMSX Category Low Category High RYMSX % Rank
Net Income Ratio -0.53% -2.51% 6.83% 79.14%

Capital Gain Distribution Analysis

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

Distributions History

View More +

RYMSX - 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

Advertisement

×

Wait! Do you know all the important aspects of mutual funds?

×

Free Advisor Access newsletter emailed to you.

Receive free and exclusive email updates for financial advisors about best performers, news, CE accredited webcasts and more.

Sign up for Advisor Access

Receive email updates about best performers, news, CE accredited webcasts and more.

Disclaimer: By registering, you agree to share your data with MutualFunds.com and opt-in to receiving occasional communications about projects and events. The contents of this form are subject to the MutualFunds.com Privacy Policy. You can unsubscribe at any time.