# EDGAR Filing Document

**Accession Number:** 0001092720
**File Stem:** 0001193125-26-063074
**Filing Date:** 2026-2
**Character Count:** 22105
**Document Hash:** d78d13bdb57250fc135bb24a839d76f2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-063074.hdr.sgml**: 20260223

**ACCESSION NUMBER**: 0001193125-26-063074

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260223

**DATE AS OF CHANGE**: 20260223

**EFFECTIVENESS DATE**: 20260223

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RYDEX DYNAMIC FUNDS
- **CENTRAL INDEX KEY:** 0001092720

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

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-84797
- **FILM NUMBER:** 26663033

**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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NEWCO TRUST
- **DATE OF NAME CHANGE:** 19990806

## Series and Classes Contracts Data

### S&P 500 2x Strategy Fund (Series ID: S000003698)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| A          | RYTTX         | C000010355 |
| C          | RYCTX         | C000010356 |
| H          | RYTNX         | C000010357 |

---

### Inverse S&P 500 2x Strategy Fund (Series ID: S000003702)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| A          | RYTMX         | C000010361 |
| C          | RYCBX         | C000010362 |
| H          | RYTPX         | C000010363 |

---

### NASDAQ-100(R) 2x Strategy Fund (Series ID: S000003703)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| A          | RYVLX         | C000010364 |
| C          | RYCCX         | C000010365 |
| H          | RYVYX         | C000010366 |

---

### Inverse NASDAQ-100(R) 2x Strategy Fund (Series ID: S000003704)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| A          | RYVTX         | C000010367 |
| C          | RYCDX         | C000010368 |
| H          | RYVNX         | C000010369 |

---

### Dow 2x Strategy Fund (Series ID: S000003705)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| A          | RYLDX         | C000010370 |
| C          | RYCYX         | C000010371 |
| H          | RYCVX         | C000010372 |

---

### Inverse Dow 2x Strategy Fund (Series ID: S000003706)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| A          | RYIDX         | C000010373 |
| C          | RYCZX         | C000010374 |
| H          | RYCWX         | C000010375 |

---

### Russell 2000 2x Strategy Fund (Series ID: S000012142)

---

|  |  |  |
|:---|:---|:---|
| Class Name     | Ticker Symbol | Class ID   |
| A-Class Shares | RYRUX         | C000033105 |
| C-Class Shares | RYRLX         | C000033106 |
| H-Class Shares | RYRSX         | C000033107 |

---

### Inverse Russell 2000 2x Strategy Fund (Series ID: S000012143)

---

|  |  |  |
|:---|:---|:---|
| Class Name     | Ticker Symbol | Class ID   |
| A-Class Shares | RYIUX         | C000033108 |
| C-Class Shares | RYIZX         | C000033109 |
| H-Class Shares | RYIRX         | C000033110 |

---

## Series and Classes Contracts Data

### S&P 500 2x Strategy Fund (Series ID: S000003698)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010355 | A            | RYTTX           |
| C000010356 | C            | RYCTX           |
| C000010357 | H            | RYTNX           |

### Inverse S&P 500 2x Strategy Fund (Series ID: S000003702)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010361 | A            | RYTMX           |
| C000010362 | C            | RYCBX           |
| C000010363 | H            | RYTPX           |

### NASDAQ-100(R) 2x Strategy Fund (Series ID: S000003703)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010364 | A            | RYVLX           |
| C000010365 | C            | RYCCX           |
| C000010366 | H            | RYVYX           |

### Inverse NASDAQ-100(R) 2x Strategy Fund (Series ID: S000003704)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010367 | A            | RYVTX           |
| C000010368 | C            | RYCDX           |
| C000010369 | H            | RYVNX           |

### Dow 2x Strategy Fund (Series ID: S000003705)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010370 | A            | RYLDX           |
| C000010371 | C            | RYCYX           |
| C000010372 | H            | RYCVX           |

### Inverse Dow 2x Strategy Fund (Series ID: S000003706)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010373 | A            | RYIDX           |
| C000010374 | C            | RYCZX           |
| C000010375 | H            | RYCWX           |

### Russell 2000 2x Strategy Fund (Series ID: S000012142)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000033105 | A-Class Shares | RYRUX           |
| C000033106 | C-Class Shares | RYRLX           |
| C000033107 | H-Class Shares | RYRSX           |

### Inverse Russell 2000 2x Strategy Fund (Series ID: S000012143)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000033108 | A-Class Shares | RYIUX           |
| C000033109 | C-Class Shares | RYIZX           |
| C000033110 | H-Class Shares | RYIRX           |

**Rydex Dynamic Funds** 

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

**Rockville, Maryland 20850** 

**Supplement Dated February 23, 2026** 

**to the currently effective Rydex Dynamic Funds Statutory Prospectuses dated August 1, 2025, as supplemented from time to time (each, a "Prospectus")** 

**This supplement provides updated information beyond that contained in the Prospectus and should be read in conjunction with the Prospectus.**

On February 23, 2026, The Bank of New York Mellon ("BNY"), located at 240 Greenwich Street, New York, New York 10186, replaced MUFG Investor Services (US) LLC ("MUIS") as transfer agent to Rydex Dynamic Funds (the "Trust" and each series of the Trust, a "Fund" and, collectively, the "Funds").

In view of the foregoing, references in the Prospectus to MUIS as transfer agent to the Funds are hereby replaced with BNY as context requires.

In addition, each Prospectus is revised as described below.

**The table in the section of the Prospectus titled "Buying Fund Shares—PURCHASE PROCEDURES" is hereby replaced with the following:** 

---

| | | |
|:---|:---|:---|
|  <br> **BY MAIL**<br>*IRA and other retirement accounts require additional paperwork.*<br>*Call Guggenheim Investments Client Services to request a Retirement Account Investor application kit.* | ***Initial Purchase*** | ***Subsequent Purchases*** |
|  <br> **BY MAIL**<br>*IRA and other retirement accounts require additional paperwork.*<br>*Call Guggenheim Investments Client Services to request a Retirement Account Investor application kit.* | &nbsp;&nbsp; Complete the account application that corresponds to the type of account you are opening.<br> • Make sure to designate the Fund(s) you want to purchase.<br>• Make sure your investment meets the account minimum.<br>| &nbsp;&nbsp; Complete the Guggenheim Investments investment slip included with your quarterly statement or send written purchase instructions that include:<br> • Your name.<br>• Your shareholder account number.<br>• The Fund(s) you want to purchase.<br>|
|  <br> **BY MAIL**<br>*IRA and other retirement accounts require additional paperwork.*<br>*Call Guggenheim Investments Client Services to request a Retirement Account Investor application kit.* | Make your check payable to **Guggenheim Investments**. | Make your check payable to **Guggenheim Investments**. |
|  <br> **BY MAIL**<br>*IRA and other retirement accounts require additional paperwork.*<br>*Call Guggenheim Investments Client Services to request a Retirement Account Investor application kit.* | Your check must be drawn on a U.S. bank and payable in U.S. dollars. | Your check must be drawn on a U.S. bank and payable in U.S. dollars. |
|  <br> **BY MAIL**<br>*IRA and other retirement accounts require additional paperwork.*<br>*Call Guggenheim Investments Client Services to request a Retirement Account Investor application kit.* | Include the name of the Fund(s) you want to purchase on your check.<br>**If you do not specify the Fund(s) you want to purchase, your investment generally will be credited to the Rydex U.S. Government Money Market Fund, which is offered in a separate prospectus.** | Include the name of the Fund(s) you want to purchase on your check.<br>**If you do not specify the Fund(s) you want to purchase, your investment generally will be credited to the Rydex U.S. Government Money Market Fund, which is offered in a separate prospectus.** |
|  <br> **BY MAIL**<br>*IRA and other retirement accounts require additional paperwork.*<br>*Call Guggenheim Investments Client Services to request a Retirement Account Investor application kit.* | Mail your application and check to: | Mail your written purchase instructions and<br>check to: |
|  <br> **BY MAIL**<br>*IRA and other retirement accounts require additional paperwork.*<br>*Call Guggenheim Investments Client Services to request a Retirement Account Investor application kit.* | **Mailing Addresses:** | **Mailing Addresses:** |
|  <br> **BY MAIL**<br>*IRA and other retirement accounts require additional paperwork.*<br>*Call Guggenheim Investments Client Services to request a Retirement Account Investor application kit.* | **Standard Delivery** | **Overnight Delivery** |
|  <br> **BY MAIL**<br>*IRA and other retirement accounts require additional paperwork.*<br>*Call Guggenheim Investments Client Services to request a Retirement Account Investor application kit.* | Guggenheim Investments<br> PO Box 534493<br> Pittsburgh, PA 15253-4493 | Guggenheim Investments<br> Attention: 534493<br> 500 Ross Street 154-0520<br> Pittsburgh, PA 15262 |

---

------

---

| | | |
|:---|:---|:---|
|  | ***Initial Purchase*** | ***Subsequent Purchases*** |
|  | &nbsp;&nbsp; Complete and submit the account application that corresponds to the type of account you are opening.<br>Contact Guggenheim Investments Client Services at 1-800-820-0888 to obtain your new account number.<br>Use the wire instructions below to send your wire.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Make sure to designate the Fund(s) you want to purchase.<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Make sure your investment meets the account minimum.<br>| Be sure to designate your wire instructions to the Fund(s) you want to purchase. |
| &nbsp;&nbsp;&nbsp; <br>**BY WIRE** | &nbsp;&nbsp; To obtain "same-day credit" (to get that Business Day's NAV) for your purchase order, ***you should call Guggenheim Investments Client Services and provide the following information prior to the transaction cut-off time for the Fund(s) you are purchasing:***<br> • Account Number<br>• Fund Name<br>• Amount of Wire<br>• Fed Wire Reference Number (upon request)<br>You will receive a confirmation number to verify that your purchase order has been accepted. ***If you do not notify Guggenheim Investments Client Services of the incoming wire, your purchase*** order may not be processed until the Business Day following the receipt of the wire.<br>**Wire Instructions:**<br> The Bank of New York Mellon<br> 500 Ross St.<br> Pittsburgh, PA 15262<br> ABA: 011001234<br> Account: 054100<br> Ref: Guggenheim Fund / Account<br>**If you do not specify the Fund(s) you want to purchase, your investment generally will be credited to the Rydex U.S. Government Money Market Fund, which is offered in a separate prospectus.** | &nbsp;&nbsp; To obtain "same-day credit" (to get that Business Day's NAV) for your purchase order, ***you should call Guggenheim Investments Client Services and provide the following information prior to the transaction cut-off time for the Fund(s) you are purchasing:***<br> • Account Number<br>• Fund Name<br>• Amount of Wire<br>• Fed Wire Reference Number (upon request)<br>You will receive a confirmation number to verify that your purchase order has been accepted. ***If you do not notify Guggenheim Investments Client Services of the incoming wire, your purchase*** order may not be processed until the Business Day following the receipt of the wire.<br>**Wire Instructions:**<br> The Bank of New York Mellon<br> 500 Ross St.<br> Pittsburgh, PA 15262<br> ABA: 011001234<br> Account: 054100<br> Ref: Guggenheim Fund / Account<br>**If you do not specify the Fund(s) you want to purchase, your investment generally will be credited to the Rydex U.S. Government Money Market Fund, which is offered in a separate prospectus.** |
|  | ***Initial Purchase*** | ***Subsequent Purchases*** |
| &nbsp;&nbsp;&nbsp; <br> **BY ACH (FAX/MAIL)** | Submit a new account application. Be sure to complete the "Electronic Investing via ACH" section. If you are establishing an Individual, Joint, | Subsequent purchases made via ACH must be a minimum of $20. A maximum of $50,000 is allowed to be purchased via ACH per day. To make |

---

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp; or UGMA/UTMA account, you may fax the application to Guggenheim Investments at 1-855-671-8280. All other applications should be mailed.<br>• Make sure to designate the Fund(s) you want to purchase.<br>• Make sure your investment meets the account minimum.<br>| &nbsp;&nbsp; a subsequent purchase send written purchase instructions that include:<br> • Your name<br>• Your shareholder account number<br>• The Fund(s) you want to purchase<br>• ACH bank information (if not on record).<br>|
|  | **Mailing Addresses:** | **Mailing Addresses:** |
|  | **Standard Delivery** | **Overnight Delivery** |
|  | Guggenheim Investments<br> PO Box 534493<br> Pittsburgh, PA 15253-4493 | Guggenheim Investments<br> Attention: 534493<br> 500 Ross Street 154-0520<br> Pittsburgh, PA 15262 |
| &nbsp;&nbsp;&nbsp;**BY ACH (INTERNET)** | Purchase payments may be sent via ACH only if you have existing ACH instructions on file. If you have existing ACH instructions on file, log-in to your account <u>https://my.accessportals.com/app/gug/login</u> (Active Investor) or<br> <u>https://my.accessportals.com/app/avc/login</u> (Advisors/Brokers). If you currently do not have ACH instructions on file, download the Bank Information and Alternate Payee Form from the <u>www.guggenheiminvestments.com</u> website, and follow the instructions for adding bank instructions. | Purchase payments may be sent via ACH only if you have existing ACH instructions on file. If you have existing ACH instructions on file, log-in to your account <u>https://my.accessportals.com/app/gug/login</u> (Active Investor) or<br> <u>https://my.accessportals.com/app/avc/login</u> (Advisors/Brokers). If you currently do not have ACH instructions on file, download the Bank Information and Alternate Payee Form from the <u>www.guggenheiminvestments.com</u> website, and follow the instructions for adding bank instructions. |

---

**The table in the section of the Prospectus titled "Selling Fund Shares—REDEMPTION PROCEDURES" is hereby replaced with the following:** 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**BY MAIL** | **Standard Delivery** | **Overnight Delivery** |
| &nbsp;&nbsp;&nbsp;**BY MAIL** | Guggenheim Investments<br> PO Box 534493<br> Pittsburgh, PA 15253-4493 | Guggenheim Investments<br> Attention: 534493<br> 500 Ross Street 154-0520<br> Pittsburgh, PA 15262 |
| &nbsp;&nbsp;&nbsp;**BY FAX** | 1-855-671-8280<br>If you send your redemption order by fax, you must call Guggenheim Investments Client Services at 1-800-820-0888 to verify that your fax was received and when it will be processed. | 1-855-671-8280<br>If you send your redemption order by fax, you must call Guggenheim Investments Client Services at 1-800-820-0888 to verify that your fax was received and when it will be processed. |
| &nbsp;&nbsp; **BY TELEPHONE** | 1-800-820-0888 (not available for retirement accounts) | 1-800-820-0888 (not available for retirement accounts) |
| &nbsp;&nbsp; **BY ACH** | Redemption proceeds may be sent via ACH only if you have existing ACH instructions on file. If you have existing ACH instructions on file, you may submit your redemption request via mail or telephone using the mailing addresses and telephone number provided above.<br>If you currently do not have ACH instructions on file, download the Bank Information and Alternate Payee Form from the www.guggenheiminvestments.com site and follow the instructions for adding bank instructions. | Redemption proceeds may be sent via ACH only if you have existing ACH instructions on file. If you have existing ACH instructions on file, you may submit your redemption request via mail or telephone using the mailing addresses and telephone number provided above.<br>If you currently do not have ACH instructions on file, download the Bank Information and Alternate Payee Form from the www.guggenheiminvestments.com site and follow the instructions for adding bank instructions. |

---

------

A maximum of $50,000 is allowed to be redeemed via ACH per day.<br>

**The information contained in the section of the Prospectus titled "Selling Fund Shares—UNCASHED CHECK POLICY" is hereby replaced with the following:** 

Uncashed dividend, capital gain, or redemption checks will be handled in accordance with applicable law. The Funds may be required to transfer assets related to uncashed checks to a state under the state's escheatment or abandoned property laws.

**The table in the section of the Prospectus titled "Exchanging Fund Shares—EXCHANGE PROCEDURES" is hereby replaced with the following:** 

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**BY MAIL** | **Standard Delivery** | **Overnight Delivery** |
| &nbsp;&nbsp;&nbsp;**BY MAIL** | Guggenheim Investments<br> PO Box 534493<br> Pittsburgh, PA 15253-4493 | Guggenheim Investments<br> Attention: 534493<br> 500 Ross Street 154-0520<br> Pittsburgh, PA 15262 |
| &nbsp;&nbsp; **BY FAX** | 1-855-671-8280<br>If you send your exchange request by fax, you must call Guggenheim Investments Client Services at 1-800-820-0888 to verify that your fax was received and when it will be processed. | 1-855-671-8280<br>If you send your exchange request by fax, you must call Guggenheim Investments Client Services at 1-800-820-0888 to verify that your fax was received and when it will be processed. |
| &nbsp;&nbsp; **BY TELEPHONE** | 1-800-820-0888 | 1-800-820-0888 |
| &nbsp;&nbsp; **BY INTERNET** | Follow the directions on the Guggenheim Investments website – visit <u>https://my.accessportals.com/app/gug/login</u> (Active Investor) or<br> <u>https://my.accessportals.com/app/avc/login</u> (Advisors/Brokers). | Follow the directions on the Guggenheim Investments website – visit <u>https://my.accessportals.com/app/gug/login</u> (Active Investor) or<br> <u>https://my.accessportals.com/app/avc/login</u> (Advisors/Brokers). |

---

**The fee for bounced draft checks or ACH transactions in the section titled "Account Policies—SERVICE AND OTHER FEES" is hereby replaced with the following:** 

● &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $50 for bounced draft checks or ACH transactions

**The mailing address for Guggenheim Investments is replaced with the following in each instance in which it appears in the section titled "For More Information":** 

Guggenheim Investments

PO Box 534493

Pittsburgh, PA 15253-4493

**The telephone number 301.296.5100 referenced in the "Buying, Selling and Exchanging Fund Shares" and "Account Policies" sections of the Prospectus is hereby deleted**.

For requests or inquiries by telephone, please call 1-800-820-0888.

-------

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

SUPP-BNY-RDF-0226x0826

------

**Rydex Dynamic Funds** 

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

**Rockville, Maryland 20850** 

**Supplement Dated February 23, 2026** 

**to the currently effective Rydex Dynamic Funds Statement of Additional Information dated August 1, 2025, as supplemented from time to time (the "SAI")** 

**This supplement provides updated information beyond that contained in the SAI and should be read in conjunction with the SAI.**

On February 23, 2026, The Bank of New York Mellon ("BNY"), located at 240 Greenwich Street, New York, New York 10286, replaced MUFG Investor Services (US), LLC ("MUIS") as administrative/accounting agent and transfer agent to each series (each, a "Fund" and collectively, the "Funds") of Rydex Dynamic Funds (the "Trust").

Pursuant to a Fund Accounting and Administration Agreement with the Trust, as may be amended and/or restated time to time, BNY performs administrative functions and bookkeeping, accounting, and pricing functions for the Funds. For these services, BNY receives a fee, accrued daily and paid monthly, based on average daily net assets of the Funds, subject to a minimum fee per year. The Funds also reimburse BNY for certain out-of-pocket expenses.

Additionally, pursuant to a Transfer Agency and Shareholder Services Agreement with the Trust, as may be amended and/or restated time to time, BNY performs all shareholder servicing functions, including processing purchase and redemption transactions, processing transfer and exchanges, maintenance of shareholder accounts, answering inquiries, supporting the mailing and e-delivery of shareholder communications, and acting as the dividend disbursing agent.

In view of the foregoing, references to MUIS as administrative/accounting agent and transfer agent to the Funds are hereby replaced with BNY as context requires.

In addition, references in the SAI to the telephone number 301.296.5100 are hereby deleted. For requests or inquiries by telephone, please call 1-800-820-0888.

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

SUPP-BNY-RDF1-0226x0826