Rydex NASDAQ-100 Fund Investor Class
RYOCX
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- Rydex NASDAQ-100 Fund Investor Class (RYOCX) is an open-end mutual fund that seeks to provide investment results corresponding, before fees and expenses, to the performance of the NASDAQ-100 Index on a daily basis. The fund employs a strategy of investing at least 80% of its net assets, plus any borrowings for investment purposes, in securities of companies included in the NASDAQ-100 Index and in derivatives and other instruments that provide economic exposure to the index; its portfolio is heavily weighted toward large-cap growth stocks, with top holdings including NVIDIA Corp., Microsoft Corp., Apple Inc., Amazon.com Inc., and Broadcom Inc., representing approximately 36% of assets, and sector allocations dominated by technology (52%), communication services (15%), and consumer cyclical (13%). Managed by a team including Michael Byrum (since 1997), Brendan Cain, Spencer Crane, and Scott Miller (since July 2022), the fund features a net expense ratio of 1.25%, a minimum initial investment of $2,500, and annual distributions; it operates within the large growth category, primarily targeting U.S. investors with exposure to U.S. stocks (94% of assets). Launched on February 14, 1994, and domiciled in the United States, RYOCX is advised by Security Investors, LLC, a Guggenheim Partners affiliate, and distributed by Guggenheim Funds Distributors, LLC, with total net assets of approximately $1.95 billion and share class assets of $1.73 billion as of recent data. The fund is available for sale in the United States and trades daily, with no front-end or deferred loads. In recent developments, Guggenheim Investments announced reverse share splits for 14 Rydex funds, including related NASDAQ-100 strategies, executed after market close on February 21, 2024, to consolidate shares and potentially reduce volatility in share price; additionally, the management team expanded in July 2022 with the addition of Brendan Cain, Spencer Crane, and Scott Miller alongside long-term manager Michael Byrum. These changes reflect ongoing operational adjustments within the Rydex series amid market conditions, while the fund maintains its core index-tracking focus without reported acquisitions, partnerships, or new product launches specific to RYOCX in the last 1-2 years.