Rydex High Yield Strategy Fund Class A
RYHDX
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ROIC.AI
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- Rydex High Yield Strategy Fund Class A (RYHDX) is an open-end mutual fund that seeks investment results correlating to the performance of the high yield bond market before fees and expenses. The fund primarily invests at least 80% of its net assets, plus borrowings for investment purposes, in financial instruments with economic characteristics similar to the U.S. and Canadian high yield bond markets, including credit default swaps, swaps on exchange-traded funds, bond futures, high yield securities, and other derivatives. It operates within the high yield bond category, targeting institutional and retail investors seeking exposure to non-investment grade debt markets through a non-diversified strategy that emphasizes benchmark replication via derivatives rather than direct bond holdings. The fund offers multiple share classes, including Class A (RYHDX, inception April 16, 2007, with a 4.75% front-end load and 1.56% net expense ratio), Class C (RYHHX), and Class H (RYHGX), all managed by a team comprising Michael Byrum (since inception), Brendan Cain, Spencer Crane, and Scott Miller (since July 2022). Domiciled in the United States and available for sale to U.S. investors, it maintains total net assets of approximately $19.17 million, with the Class A share class at $3.15 million as of recent data. Investment adviser Security Investors, LLC, a Guggenheim Partners affiliate, contractually waives certain management fees through August 1, 2026, to offset subsidiary-related costs. In recent developments, the Board of Trustees of Rydex Series Funds approved a reverse share split for RYHDX and other funds at a November 20-21, 2024 meeting, with the 1:3 split scheduled after market close on or about February 21, 2025, to proportionally increase NAV per share without altering shareholder investment value. Manager team additions of Brendan Cain, Spencer Crane, and Scott Miller occurred in July 2022, enhancing oversight amid ongoing portfolio adjustments that include significant cash (41.44%), U.S. bonds (27.35%), and holdings like J.P. Morgan Securities LLC (18.73%) and Federal Home Loan Banks. The fund, part of Guggenheim Investments' Rydex lineup following Guggenheim's 2012 acquisition of Rydex Advisors, continues daily rebalancing to track the Bloomberg U.S. Corporate High Yield Index benchmark.