Rydex NASDAQ-100 2x Strategy Fund Class H
RYVYX
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- Rydex NASDAQ-100 2x Strategy Fund Class H (RYVYX) is an open-end mutual fund that seeks to provide investment results that match, before fees and expenses, 200% of the daily performance of the NASDAQ-100 Index. The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in financial instruments including swap agreements, futures contracts, and options with economic characteristics that should have a positive correlation with the index's 200% daily performance; it maintains significant exposure to large-cap growth stocks such as NVIDIA Corp., Microsoft Corp., Apple Inc., Amazon.com Inc., and Broadcom Inc., with heavy sector weightings in technology (54.13%), communication services (16.31%), and consumer cyclical (13.59%). Offered through Rydex Funds, a family managed by Security Investors, LLC (investment adviser) and distributed by Guggenheim Funds Distributors, LLC, the fund features a net expense ratio of 1.74%, minimum initial investment of $2,500, and share classes including A (RYVLX), C (RYCCX), and H (RYVYX). Launched on May 24, 2000, and headquartered in Rockville, Maryland, the fund operates primarily in the United States with total net assets of approximately $1.50 billion and is available to U.S. investors through various platforms. Rydex Funds, part of Guggenheim Investments, traces its origins to 1993 and has historically focused on leveraged and inverse strategies tracking major benchmarks like the NASDAQ-100. In recent developments, Guggenheim Investments announced in March 2024 an agreement for New Age Alpha to acquire its actively managed equity funds business (excluding Rydex Funds), with the transaction including 21 mutual and variable insurance funds but retaining the Rydex lineup under Guggenheim management following an expected Q4 2024 close. Reverse share splits were executed across 14 Rydex funds, including RYVYX, after market close on February 21, 2024, to address low share prices. Portfolio management saw Brendan Cain, Spencer Crane, and Scott Miller join long-tenured manager Michael Byrum (since 2005) effective July 8, 2022.