The fund seeks capital appreciation in the long term by investing in companies across any size in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in long and short positions of domestic equity and equity-related securities.

The team utilizes a proprietary evaluation process to generate an estimated return for individual stocks that considers market risk factors and company-specific risks.

Market risk factors include company size, enterprise value, and sector.

The process utilizes fundamentally-based, forward-looking forecasts of equity cash flows to generate return expectations for individual stocks.

Then, the estimated returns for the universe of stocks is further evaluated using quantitative techniques to estimate the market’s implied valuation of broad market risk factors as well as the company-specific risks.

Finally, the team buys long the stocks that are estimated to trade below their fair values and sells short stocks for which those characteristics are perceived to be overpriced.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund also may invest in derivative instruments, including swaps on selected baskets of equity securities.

Also, the fund may invest in derivatives, such as options and futures contracts, to hedge or gain leveraged exposure to a particular sector, industry, market risk factor, or company and/or to obtain or replicate market exposure depending on market conditions.

The fund will often invest in instruments traded in the over the-counter market.

Under adverse or unstable market conditions or abnormal circumstances, the fund could invest some or all of its assets in cash, derivatives, fixed-income instruments, government bonds, money market instruments, repurchase agreements or securities of other investment companies.

The fund seeks capital appreciation in the long term by investing in companies in the United States.

The investment process is designed to highlight companies that are trading at a discount to their intrinsic value.

The research team uses proprietary expected return factor-model to uncover companies that meet earnings, return on capital and growth criteria. 

The team then assesses if a company is aligning the interests of all core stakeholders such as investors, customers, employees, partners, and society.

The fund seeks to replicate total return performance of the Guggenheim Directional Allocation Index before fees and expenses by investing in mega-and large-size companies in the United States.

The investment process is designed to highlight companies in the benchmark index demonstrating a high Required Business Performance probability. The RBP Probability scores indicate the probability that the company will achieve its business performance in the future.

Then the research team focuses on companies that are believed to have the highest RBP probabilities.

The investment team relies on a passive investing style to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

At times, it may not be possible or practicable to buy all of the securities of the Index, or to replicate the weightings in the Index. Then the team utilizes a sampling technique to select securities with a similar investment profile as the index in terms of key risk factors, and performance attributes.

The manager then constructs a portfolio from a list of companies favored by the research team and allocates capital based on its conviction level.

The Index allocates its holdings among the stocks in the Guggenheim RBP Large-Cap Market Index, the Guggenheim RBP Large-Cap Aggressive Index and the Guggenheim RBP Large-Cap Defensive Index and cash.

The allocations are based on a moving average crossover system of analysis that focuses on economic condition, consumer sentiment and market momentum.

The portfolio is concentrated and the fund has the flexibility to hold 25% or more of its net assets in a particular industry or sector to approximately the same extent that the Index is so concentrated.

The fund also may invest up to 20% of its net assets in common stocks and real estate investment trusts not included in the index, as well as in exchange-traded funds, futures, put and call options, interest rate, index and total return swap contracts, cash and cash equivalents.

The fund seeks capital appreciation in the long term by investing in mega-and large-size companies in the United States.

The investment process starts with a list of companies in the benchmark index and narrows down the list that are trading at attractive valuation when measured in multiples of assets, earnings and cash flows.

Then the research team combines fundamental and qualitative analysis to identify companies that are available at reasonable prices and have the potential to outperform the market in the long term.

In addition, the team evaluates companies regularly to make adjustments on dynamics such as changing market, financial or economic conditions.

Then the Investment team allocates capital to a diversified portfolio of stocks that are favored by the research team and consistent with risk guidelines.

The fund may invest a portion of its assets in derivatives, including options and futures contracts or exchange-traded funds.

However, the fund may invest in a limited number of sectors or industries.

The fund seeks capital appreciation in the long term by investing in companies across any size in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in long and short positions of domestic equity securities or equity-related instruments, including swaps and other derivatives that provide long or short exposure to domestic equity securities.

The team then utilizes fundamentally-based, forward-looking forecasts of equity cash flows to generate return expectations for individual stocks.

Then, the estimated returns for the universe of stocks is further evaluated using quantitative techniques to estimate the market’s implied valuation of broad market risk factors as well as the company-specific risks.

Finally, the team buys long the stocks that are estimated to trade below their fair values and sells short stocks for which those characteristics are perceived to be overvalued.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

Additionally, the fund may invest in derivative instruments which primarily consist of swaps on baskets of selected equity securities, futures contracts, and options on securities, futures contracts, and stock indices.

The fund also may invest in derivatives to hedge or gain leveraged exposure to a particular industry, style or company depending on market conditions.

The fund seeks to achieve absolute returns by investing in companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in managed futures.

Managed futures are investments in commodity, currency, equity, and fixed income futures, and financial-linked instruments, as well as other instruments that in combination have economic characteristics similar or equivalent to those of commodity, currency, equity, and fixed income futures contracts.

The team seeks to invest in multiple proprietary and third-party investment strategies that seek to identify and profit from upcoming movements in any combination of global fixed income, currency, commodity, or equity markets.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund generally will take a long position in a particular asset class, sector or market that that is estimated to rise in value.

Generally, the fund will take a short position in a particular asset class, sector or market that is estimated to fall in value.

The fund may also take a long position in a particular asset class, sector or market that is estimated to fall in value and may also take a short position in a particular asset class, sector, or market that is estimated to rise in value to manage the risk of the fund’s positions and strategies.

Additionally, the fund will invest in: commodity, currency, equity, fixed income and other futures, forwards, options, and options on futures; exchange-traded funds, and other pooled investment vehicles.

The fund may invest, without limitation, in U.S. dollar-denominated investment grade debt securities, and may invest no more than 20% of assets in high yield securities.

In addition, the fund also may invest, without limitation, in mortgage-backed securities or in other asset-backed securities, including to-be-announced transactions.

The fund may invest, without limitation, in U.S. dollar denominated debt securities of foreign issuers, including emerging market issuers, and may invest up to 10% of its assets in sovereign and corporate debt securities denominated in foreign currencies.

The fund may invest up to 25% of its net assets in a wholly-owned and controlled Cayman Islands subsidiary (the Subsidiary).

The fund seeks capital appreciation by investing in companies in the United States.

The investment process seeks to neutralize exposure to stock market risk and volatility by taking both long and short positions in real estate investments.

The strategy looks to invest in long and short equity securities of issuers engaged in the real estate industry, such as real estate investment trusts.

The process also focuses on individual securities, exchange-traded funds and derivatives, giving long and short exposure to issuers primarily engaged in the real estate industry.

The investment team considers an issuer if at least 50% of its assets, income, sales or profits are committed to, or derived from, the ownership, construction, management, financing, leasing, brokering, or sale of residential, or commercial real estate, or the provision of products and services related to the real estate industry.

Also, the team may consider an issuer to be engaged in the real estate industry if a widely recognized industry classification system provider has given the company an industry or sector classification consistent with the real estate industry.

Next, the research team takes a long position by buying a security that will appreciate, or obtain exposure to short positions by entering into derivative instruments.

The research process is driven by fundamental analysis of one stock at a time. Then the research team relies on fundamental analysis that reflects the macro-level investment themes.

The team also considers factors such as management’s ability to understand the business model and the company’s roadmap.

Then the manager constructs a portfolio from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level.

The manager allocates the fund’s net assets among geographic regions and property sectors.

The fund invests more than 25% of its net assets in securities of issuers in the real estate industry.

The fund has the flexibility to invest some or all of its assets in cash, derivatives, fixed-income instruments, government bonds, money market instruments, repurchase agreements or securities of other investment companies under adverse or unstable market conditions or abnormal circumstances.

The fund seeks to replicate total return performance of the Guggenheim RBP Dividend Index before fees and expenses by investing in mid-and large-size companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team relies on a passive investing style to invest in securities of dividend paying companies.

In selecting securities for the portfolio, the research team employs the proprietary Required Business Performance probability scores.

The RBP Probability scores indicate the probability that the company will achieve its business performance in the future.

Additionally, the team utilizes a sampling methodology to select securities that represent a sample of the securities in the Index with a similar investment profile as the Index in terms of key risk factors, performance attributes and other characteristics.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

Also, the fund seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

Additionally, the fund will hold 25% or more of its net assets in a particular industry or sector to approximately the same extent that the Index is so concentrated.

The fund may invest up to 20% of its net assets in common stocks and real estate investment trusts not included in the index, as well as in exchange-traded funds, futures, put and call options, interest rate, index and total return swap contracts, cash and cash equivalents.

The fund could invest some or all of its assets in cash, fixed-income instruments, government bonds, money market instruments, repurchase agreements or securities of other investment companies, under adverse, unstable or abnormal market conditions.

The fund seeks to replicate total return performance of the benchmark index before fees and expenses by investing in large-size companies in the United States.

The investment process is designed to highlight companies demonstrating a high Required Business Performance probability. The RBP Probability scores indicate the probability that the company will achieve its business performance in the future.

Next, the research team applies the proprietary RBP methodology to stocks screened for a beta factor closest to 1.0.

The team also utilizes a sampling technique to select securities with a similar investment profile as the index in terms of key risk factors, and performance attributes.

The portfolio is concentrated and the fund has the flexibility to hold 25% or more of its net assets in a particular industry or sector.

The fund avoids companies that have the most behavioral risk, but invests in companies with historically average sensitivity to market sentiment.

The fund also may invest up to 20% of its net assets in common stocks and real estate investment trusts not included in the index, as well as in exchange-traded funds, futures, put and call options, interest rate, index and total return swap contracts, cash and cash equivalents.

The fund seeks to replicate total return performance of the benchmark index before fees and expenses by investing in large-size companies in the United States.

The investment process is designed to highlight companies demonstrating a high Required Business Performance probability. The RBP Probability scores indicate the probability that the company will achieve its business performance in the future.

Next, the research team applies the proprietary RBP methodology to stocks screened for a beta factor closest to 1. In addition, the team also considers factors such as average economic and market sensitivity, and average exposure to market volatility.

The team also utilizes a sampling technique to select securities with a similar investment profile as the index.

The fund avoids companies that have the most behavioral risk, but invests in companies with historically average sensitivity to market sentiment.

The portfolio is concentrated and the fund has the flexibility to hold 25% or more of its net assets in a particular industry or sector.

The fund seeks to replicate total return performance of the Guggenheim RBP Large-Cap Value Index before fees and expenses by investing in mega-and large-size companies in the United States.

The investment process relies on a passive investing style to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

The process is designed to highlight companies demonstrating a high Required Business Performance probability. The RBP Probability scores indicate the probability that the company will achieve its business performance in the future.

Next, the research team focuses on companies that are believed to have the highest RBP probabilities.

At times, it may not be possible or practicable to buy all of the securities of the Index, or to replicate the weightings in the Index. Then the team utilizes a sampling technique to select securities with a similar investment profile as the index in terms of key risk factors, and performance attributes.

The portfolio is concentrated and the fund has the flexibility to hold 25% or more of its net assets in a particular industry or sector.

The fund also may invest up to 20% of its net assets in common stocks and real estate investment trusts not included in the index, as well as in exchange-traded funds, futures, put and call options, interest rate, index and total return swap contracts, cash and cash equivalents.

The fund seeks long-term capital appreciation by investing in small-size U.S. companies.

The investment process is designed to highlight companies in the benchmark that meet valuation hurdles on earnings, cash flow, growth and assets. Next, the research team using quantitative and fundamental analysis identifies companies with financial strength and are trading at discounts to their peers and history.

Then the research team using qualitative analysis narrows the list with an attractive long-term growth outlook and potential to create value.

The fund seeks capital appreciation in the long term by investing in small-and mid-size companies in the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in equity securities, which include common stocks, rights, options, warrants, convertible debt securities, and American Depositary Receipts.

In selecting securities for the portfolio, the research team focuses on companies that are estimated to trade below their fair values relative to assets, earnings, growth potential or cash flows.

The team favors companies that are reasonably priced and have the potential to appreciate in value.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may invest in a limited number of sectors or industries.

The fund may invest a portion of its net assets in derivatives, including options and futures contracts.

Under adverse or unstable market conditions or abnormal circumstances, the fund could invest some or all of its assets in cash, derivatives, fixed-income instruments, government bonds, money market instruments, repurchase agreements or securities of other investment companies.

The fund seeks capital appreciation in the long-term by investing in large-size companies in the United States.

The investment process uses quantitative analysis, credit research and due diligence to identify companies that are expected to contribute to exceeding the total return of the Index.

The process employs a combination of passive and actively managed strategies to identify potential investment opportunities.

The research team favors companies that invest in short-term fixed-income or floating rate securities to achieve greater diversification and trading efficiency.

The team may also invest in derivatives to maintain exposure to the equity and fixed-income markets, to hedge the fund’s portfolio, or to increase returns.

The allocation to the actively managed equity, passive equity and actively managed fixed-income sleeves of the portfolio is at the discretion of the manager.

The manager assesses the current investment environment including market volatility, the attractiveness of each asset category, the correlations among index components, individual positions or each asset category, and expected returns for capital allocation.

The fund has the flexibility to invest some or all of its assets in cash, derivatives, fixed-income instruments, government bonds, money market instruments, repurchase agreements or securities of other investment companies, if market conditions warrant.

The fund seeks capital appreciation in the long-term by investing in mid-size companies in the United States.

The investment process employs a combination of passive and actively managed strategies and the team uses quantitative analysis, credit research and due diligence to identify potential companies that are expected to contribute to exceeding the total return of the Index.

The research team favors companies that invest in short-term fixed-income or floating rate securities to achieve greater diversification and trading efficiency. The team may also invest in derivatives to maintain exposure to the equity and fixed-income markets, to hedge the fund’s portfolio, or to increase returns.

The fund has the flexibility to invest some or all of its assets in cash, derivatives, fixed-income instruments, government bonds, money market instruments, repurchase agreements or securities of other investment companies, if market conditions warrant.

The fund seeks total return by investing in mid-and large-size companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in higher dividend yielding equity securities.

In selecting securities for the portfolio, the research team focuses on the dividend yield potential and the historic volatility of each security, the correlation between securities, trading liquidity and market capitalization.

Also, the team may consider transaction costs and overall exposures to countries, sectors and stocks.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may invest in a limited number of sectors or industries, including the technology, consumer staples and financial sectors.

Additionally, the fund may also hold up to 20% of its net assets in non-equity securities of foreign or U.S. issuers.

The fund may invest in a number of countries throughout the world, including emerging markets.

Also, the fund may invest in common stock, preferred stock, American Depositary Receipts, Global Depositary Receipts, American Depositary Shares, convertible securities and warrants and rights.

The fund may invest in exchange-traded funds and other mutual funds to manage its cash position, or to gain exposure to the equity markets or a particular sector of the equity markets.

The fund has the flexibility to invest some or all of its assets in cash, derivatives, fixed-income instruments, government bonds, money market instruments, repurchase agreements or securities of other investment companies under adverse or unstable market conditions or abnormal circumstances.