# EDGAR Filing Document

**Accession Number:** 0001064046
**File Stem:** 0001193125-25-220857
**Filing Date:** 2025-9
**Character Count:** 21718
**Document Hash:** ef26f0266f9d427fdc2317c22991bfeb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-220857.hdr.sgml**: 20250929

**ACCESSION NUMBER**: 0001193125-25-220857

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250929

**DATE AS OF CHANGE**: 20250926

**EFFECTIVENESS DATE**: 20250929

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RYDEX VARIABLE TRUST
- **CENTRAL INDEX KEY:** 0001064046

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-57017
- **FILM NUMBER:** 251351647

**BUSINESS ADDRESS:**
- **STREET 1:** 702 KING FARM BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850
- **BUSINESS PHONE:** 301-296-5100

**MAIL ADDRESS:**
- **STREET 1:** 702 KING FARM BOULEVARD
- **STREET 2:** SUITE 200
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850

## Series and Classes Contracts Data

### U.S. Government Money Market Fund (Series ID: S000003710)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010379 |

---

### Biotechnology Fund (Series ID: S000003711)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010380 |

---

### Consumer Products Fund (Series ID: S000003712)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010381 |

---

### Electronics Fund (Series ID: S000003713)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010382 |

---

### Energy Fund (Series ID: S000003714)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010383 |

---

### Energy Services Fund (Series ID: S000003715)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010384 |

---

### Financial Services Fund (Series ID: S000003716)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010385 |

---

### Health Care Fund (Series ID: S000003717)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010386 |

---

### Internet Fund (Series ID: S000003718)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010387 |

---

### Leisure Fund (Series ID: S000003719)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010388 |

---

### Retailing Fund (Series ID: S000003720)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010389 |

---

### Government Long Bond 1.2x Strategy Fund (Series ID: S000003721)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010390 |

---

### Technology Fund (Series ID: S000003722)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010391 |

---

### Telecommunications Fund (Series ID: S000003723)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010392 |

---

### Transportation Fund (Series ID: S000003724)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010393 |

---

### Utilities Fund (Series ID: S000003725)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010394 |

---

### Real Estate Fund (Series ID: S000003726)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010395 |

---

### Mid-Cap 1.5x Strategy Fund (Series ID: S000003727)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010396 |

---

### Russell 2000(R) 1.5x Strategy Fund (Series ID: S000003728)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010397 |

---

### Weakening Dollar 2x Strategy Fund (Series ID: S000003731)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010400 |

---

### Nova Fund (Series ID: S000003732)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010401 |

---

### Strengthening Dollar 2x Strategy Fund (Series ID: S000003733)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010402 |

---

### Commodities Strategy Fund (Series ID: S000003734)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010403 |

---

### Inverse Government Long Bond Strategy Fund (Series ID: S000003735)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010404 |

---

### S&P 500 Pure Value Fund (Series ID: S000003738)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010407 |

---

### S&P 500 Pure Growth Fund (Series ID: S000003739)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010408 |

---

### S&P SmallCap 600 Pure Value Fund (Series ID: S000003740)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010409 |

---

### S&P SmallCap 600 Pure Growth Fund (Series ID: S000003741)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010410 |

---

### S&P MidCap 400 Pure Value Fund (Series ID: S000003742)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010411 |

---

### Precious Metals Fund (Series ID: S000003743)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010412 |

---

### S&P MidCap 400 Pure Growth Fund (Series ID: S000003744)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010413 |

---

### Inverse Mid-Cap Strategy Fund (Series ID: S000003745)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010414 |

---

### Inverse Russell 2000(R) Strategy Fund (Series ID: S000003746)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010415 |

---

### Multi-Hedge Strategies Fund (Series ID: S000003747)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010416 |

---

### Europe 1.25x Strategy Fund (Series ID: S000003749)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010418 |

---

### Japan 2x Strategy Fund (Series ID: S000003750)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010419 |

---

### S&P 500 2x Strategy Fund (Series ID: S000003751)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010420 |

---

### NASDAQ-100(R) 2x Strategy Fund (Series ID: S000003752)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010421 |

---

### Dow 2x Strategy Fund (Series ID: S000003753)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010422 |

---

### Inverse S&P 500 Strategy Fund (Series ID: S000003754)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010423 |

---

### Inverse Dow 2x Strategy Fund (Series ID: S000003755)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010424 |

---

### NASDAQ-100(R) Fund (Series ID: S000003756)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010425 |

---

### Inverse NASDAQ-100(R) Strategy Fund (Series ID: S000003757)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010426 |

---

### Banking Fund (Series ID: S000003758)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010427 |

---

### Basic Materials (Series ID: S000003759)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000010428 |

---

### Russell 2000(R) 2x Strategy Fund (Series ID: S000011813)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000032290 |

---

### High Yield Strategy Fund (Series ID: S000016688)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000046626 |

---

### Global Managed Futures Strategy Fund (Series ID: S000023531)

---

|  |  |
|:---|:---|
| Class Name       | Class ID   |
| Variable Annuity | C000069235 |

---

## Series and Classes Contracts Data

### U.S. Government Money Market Fund (Series ID: S000003710)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010379 | Variable Annuity |  |

### Biotechnology Fund (Series ID: S000003711)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010380 | Variable Annuity |  |

### Consumer Products Fund (Series ID: S000003712)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010381 | Variable Annuity |  |

### Electronics Fund (Series ID: S000003713)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010382 | Variable Annuity |  |

### Energy Fund (Series ID: S000003714)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010383 | Variable Annuity |  |

### Energy Services Fund (Series ID: S000003715)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010384 | Variable Annuity |  |

### Financial Services Fund (Series ID: S000003716)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010385 | Variable Annuity |  |

### Health Care Fund (Series ID: S000003717)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010386 | Variable Annuity |  |

### Internet Fund (Series ID: S000003718)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010387 | Variable Annuity |  |

### Leisure Fund (Series ID: S000003719)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010388 | Variable Annuity |  |

### Retailing Fund (Series ID: S000003720)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010389 | Variable Annuity |  |

### Government Long Bond 1.2x Strategy Fund (Series ID: S000003721)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010390 | Variable Annuity |  |

### Technology Fund (Series ID: S000003722)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010391 | Variable Annuity |  |

### Telecommunications Fund (Series ID: S000003723)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010392 | Variable Annuity |  |

### Transportation Fund (Series ID: S000003724)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010393 | Variable Annuity |  |

### Utilities Fund (Series ID: S000003725)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010394 | Variable Annuity |  |

### Real Estate Fund (Series ID: S000003726)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010395 | Variable Annuity |  |

### Mid-Cap 1.5x Strategy Fund (Series ID: S000003727)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010396 | Variable Annuity |  |

### Russell 2000(R) 1.5x Strategy Fund (Series ID: S000003728)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010397 | Variable Annuity |  |

### Weakening Dollar 2x Strategy Fund (Series ID: S000003731)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010400 | Variable Annuity |  |

### Nova Fund (Series ID: S000003732)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010401 | Variable Annuity |  |

### Strengthening Dollar 2x Strategy Fund (Series ID: S000003733)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010402 | Variable Annuity |  |

### Commodities Strategy Fund (Series ID: S000003734)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010403 | Variable Annuity |  |

### Inverse Government Long Bond Strategy Fund (Series ID: S000003735)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010404 | Variable Annuity |  |

### S&P 500 Pure Value Fund (Series ID: S000003738)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010407 | Variable Annuity |  |

### S&P 500 Pure Growth Fund (Series ID: S000003739)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010408 | Variable Annuity |  |

### S&P SmallCap 600 Pure Value Fund (Series ID: S000003740)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010409 | Variable Annuity |  |

### S&P SmallCap 600 Pure Growth Fund (Series ID: S000003741)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010410 | Variable Annuity |  |

### S&P MidCap 400 Pure Value Fund (Series ID: S000003742)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010411 | Variable Annuity |  |

### Precious Metals Fund (Series ID: S000003743)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010412 | Variable Annuity |  |

### S&P MidCap 400 Pure Growth Fund (Series ID: S000003744)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010413 | Variable Annuity |  |

### Inverse Mid-Cap Strategy Fund (Series ID: S000003745)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010414 | Variable Annuity |  |

### Inverse Russell 2000(R) Strategy Fund (Series ID: S000003746)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010415 | Variable Annuity |  |

### Multi-Hedge Strategies Fund (Series ID: S000003747)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010416 | Variable Annuity |  |

### Europe 1.25x Strategy Fund (Series ID: S000003749)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010418 | Variable Annuity |  |

### Japan 2x Strategy Fund (Series ID: S000003750)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010419 | Variable Annuity |  |

### S&P 500 2x Strategy Fund (Series ID: S000003751)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010420 | Variable Annuity |  |

### NASDAQ-100(R) 2x Strategy Fund (Series ID: S000003752)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010421 | Variable Annuity |  |

### Dow 2x Strategy Fund (Series ID: S000003753)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010422 | Variable Annuity |  |

### Inverse S&P 500 Strategy Fund (Series ID: S000003754)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010423 | Variable Annuity |  |

### Inverse Dow 2x Strategy Fund (Series ID: S000003755)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010424 | Variable Annuity |  |

### NASDAQ-100(R) Fund (Series ID: S000003756)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010425 | Variable Annuity |  |

### Inverse NASDAQ-100(R) Strategy Fund (Series ID: S000003757)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010426 | Variable Annuity |  |

### Banking Fund (Series ID: S000003758)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010427 | Variable Annuity |  |

### Basic Materials (Series ID: S000003759)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000010428 | Variable Annuity |  |

### Russell 2000(R) 2x Strategy Fund (Series ID: S000011813)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000032290 | Variable Annuity |  |

### High Yield Strategy Fund (Series ID: S000016688)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000046626 | Variable Annuity |  |

### Global Managed Futures Strategy Fund (Series ID: S000023531)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000069235 | Variable Annuity |  |

**702 King Farm Blvd., Suite 200** 

**Rockville, Maryland 20850** 

**Rydex Dynamic Funds** 

**Rydex Series Funds** 

**Rydex Variable Trust** 

**(each, a "Trust" and collectively, the "Trusts")** 

**Supplement dated September 29, 2025 to the Trusts' currently effective Summary Prospectuses and Statutory Prospectuses (collectively, the "Prospectuses"), each as supplemented from time to time.** 

**This supplement provides new and additional information beyond that contained in the Prospectuses and should be read in conjunction with the Prospectuses.** 

Effective immediately, The Bank of New York Mellon ("The Bank of New York") serves as custodian and securities lending agent for each series of the Trusts (collectively, the "Funds"). As a result, under the section "**More Information About the Trust and the Funds – PRINCIPAL INVESTMENT STRATEGIES – Securities Lending**" in each Fund's Statutory Prospectus(es), all references to "U.S. Bank National Association" and "U.S. Bank" are replaced with "The Bank of New York".

**Please retain this supplement for future reference.** 

RYDEX-PRO-SUPP-0925x0526/0826

------

**702 King Farm Blvd., Suite 200** 

**Rockville, Maryland 20850** 

**Rydex Dynamic Funds** 

**Rydex Series Funds** 

**Rydex Variable Trust** 

**(each, a "Trust" and collectively, the "Trusts")** 

**Supplement dated September 29, 2025 to the Trusts' currently effective Statutory Prospectuses (each, a "Prospectus" and collectively, the "Prospectuses"), each as supplemented from time to time.** 

**This supplement provides new and additional information beyond that contained in the Prospectuses and should be read in conjunction with the Prospectuses.** 

Effective immediately, in the "**More Information About the Trust and the Funds – PRINCIPAL INVESTMENT STRATEGIES**" section of each Prospectus, the following is added after the disclosure under the heading "**Securities Lending**".

**Cash Sweep Arrangement.** Each Fund, with the exception of the Rydex Series Funds and Rydex Variable Trust U.S. Government Money Market Funds, expects to participate in a cash sweep program where all or a portion of the Fund's uninvested cash balance is used to purchase shares of affiliated or unaffiliated money market funds or cash management pooled investment vehicles at the end of each day. Currently, each Fund expects to invest all or a portion its uninvested cash balance in a "government money market fund" as defined by Rule 2a-7 under the Investment Company Act of 1940 (the "1940 Act"). A Fund's participation in a cash sweep program subjects the Fund to the risks associated with the underlying money market funds or cash management pooled investment vehicles. These risks may include, among others, the impact of significant fluctuations in assets as a result of the cash sweep program or purchase and redemption activity by affiliated or non-affiliated shareholders in such other funds or pooled investment vehicles. As a shareholder of a money market fund or cash management pooled investment vehicle, a Fund would indirectly bear the fees and expenses of the underlying fund or pooled investment vehicle which are in addition to the fees the Fund pays its service providers.

**Please retain this supplement for future reference.** 

RYDEX-STAT-SUPP-0925x0526/0826

------

**702 King Farm Blvd., Suite 200** 

**Rockville, Maryland 20850** 

**Rydex Dynamic Funds** 

**Rydex Series Funds** 

**Rydex Variable Trust** 

**(each, a "Trust" and collectively, the "Trusts")** 

**Supplement dated September 29, 2025 to the Trusts' currently effective Statements of Additional Information (collectively, the "SAIs"), each as supplemented from time to time.** 

**This supplement provides new and additional information beyond that contained in the SAIs and should be read in conjunction with the SAIs.** 

Effective immediately, The Bank of New York Mellon (the "Bank of New York") serves as custodian and securities lending agent for each series of the Trusts (collectively, the "Funds"). As a result, except as noted below, all references in the SAIs to "U.S. Bank National Association" are replaced with "The Bank of New York".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Under "**MANAGEMENT OF THE FUNDS** ", the following is added as the third paragraph under the
heading " <u>**Securities Lending**</u> ":

Prior to September 29, 2025, U.S. Bank National Association ("U.S. Bank") served as securities lending agent and was responsible for the administration and management of the Funds' Securities Lending Program. U.S. Bank received as compensation for its services a portion of the amount earned by the Funds for lending securities, as set forth below.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The disclosure under "**CUSTODIAN**" is deleted in its entirety and replaced with the
following:

The Bank of New York Mellon (the "Custodian"), 240 Greenwich Street, New York, New York 10286, serves as custodian for the Trust and the Funds under a custody agreement between the Trust and the Custodian. Under the custody agreement, the Custodian holds the portfolio securities of each Fund and maintains all necessary related accounts and records. The Custodian also serves as the custodian for each applicable Fund's Subsidiary.

**Please retain this supplement for future reference.** 

RYDEX-SAI-SUPP-0925x0526/0826