# EDGAR Filing Document

**Accession Number:** 0000899148
**File Stem:** 0001193125-25-316984
**Filing Date:** 2025-12
**Character Count:** 32090
**Document Hash:** b8d55c8b278502df214e396edb2ea83d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-316984.hdr.sgml**: 20251212

**ACCESSION NUMBER**: 0001193125-25-316984

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20251212

**DATE AS OF CHANGE**: 20251212

**EFFECTIVENESS DATE**: 20251212

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** RYDEX SERIES FUNDS
- **CENTRAL INDEX KEY:** 0000899148

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-59692
- **FILM NUMBER:** 251566879

**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:** RYDEX DYNAMIC FUNDS
- **DATE OF NAME CHANGE:** 20170712

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RYDEX SERIES FUNDS
- **DATE OF NAME CHANGE:** 20000229

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RYDEX SERIES TRUST
- **DATE OF NAME CHANGE:** 19930714

## Series and Classes Contracts Data

### U.S. Government Money Market Fund (Series ID: S000003657)

---

|  |  |  |
|:---|:---|:---|
| Class Name                | Ticker Symbol | Class ID   |
| Money Market Class Shares | RYFXX         | C000113321 |

---

### Banking Fund (Series ID: S000003683)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYBKX         | C000010305 |
| Class C    | RYKCX         | C000010306 |

---

### Government Long Bond 1.2x Strategy Fund (Series ID: S000003684)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYABX         | C000010309 |
| Class C    | RYCGX         | C000010310 |

---

### Mid-Cap 1.5x Strategy Fund (Series ID: S000003685)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYAHX         | C000010312 |
| Class C    | RYDCX         | C000010313 |

---

### S&P 500 Pure Value Fund (Series ID: S000003688)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYLVX         | C000010321 |
| Class C    | RYVVX         | C000010322 |

---

### S&P 500 Pure Growth Fund (Series ID: S000003689)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYLGX         | C000010324 |
| Class C    | RYGRX         | C000010325 |

---

### Inverse Government Long Bond Strategy Fund (Series ID: S000003690)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYAQX         | C000010328 |
| Class C    | RYJCX         | C000010329 |

---

### Nova Fund (Series ID: S000003691)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYANX         | C000010332 |
| Class C    | RYNCX         | C000010333 |

---

### Inverse S&P 500 Strategy Fund (Series ID: S000003692)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYARX         | C000010336 |
| Class C    | RYUCX         | C000010337 |

---

### NASDAQ-100 Fund (Series ID: S000003693)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYATX         | C000010340 |
| Class C    | RYCOX         | C000010341 |

---

### Inverse NASDAQ-100 Strategy Fund (Series ID: S000003694)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYAPX         | C000010344 |
| Class C    | RYACX         | C000010345 |

---

### Europe 1.25x Strategy Fund (Series ID: S000003695)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYAEX         | C000010347 |
| Class C    | RYCEX         | C000010348 |

---

### Russell 2000 1.5x Strategy Fund (Series ID: S000003697)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYAKX         | C000010353 |
| Class C    | RYCMX         | C000010354 |

---

### S&P SmallCap 600 Pure Value Fund (Series ID: S000003760)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYSVX         | C000010430 |
| Class C    | RYYCX         | C000010431 |

---

### Weakening Dollar 2x Strategy Fund (Series ID: S000003761)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYWDX         | C000010433 |
| Class C    | RYWJX         | C000010434 |

---

### Guggenheim Multi-Hedge Strategies Fund (Series ID: S000003763)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | RYMQX         | C000010439 |
| Class C             | RYMRX         | C000010440 |
| Institutional Class | RYIMX         | C000088407 |

---

### S&P SmallCap 600 Pure Growth Fund (Series ID: S000003768)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYSGX         | C000010446 |
| Class C    | RYWCX         | C000010447 |

---

### S&P MidCap 400 Pure Value Fund (Series ID: S000003769)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYMVX         | C000010449 |
| Class C    | RYMMX         | C000010450 |

---

### S&P MidCap 400 Pure Growth Fund (Series ID: S000003770)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYMGX         | C000010452 |
| Class C    | RYCKX         | C000010453 |

---

### Inverse Mid-Cap Strategy Fund (Series ID: S000003771)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYAGX         | C000010455 |
| Class C    | RYCLX         | C000010456 |

---

### Inverse Russell 2000 Strategy Fund (Series ID: S000003772)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYAFX         | C000010458 |
| Class C    | RYCQX         | C000010459 |

---

### Real Estate Fund (Series ID: S000003773)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYREX         | C000010461 |
| Class C    | RYCRX         | C000010462 |

---

### Commodities Strategy Fund (Series ID: S000003774)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYMEX         | C000010464 |
| Class C    | RYMJX         | C000010465 |

---

### Strengthening Dollar 2x Strategy Fund (Series ID: S000003775)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYSDX         | C000010467 |
| Class C    | RYSJX         | C000010468 |

---

### Precious Metals Fund (Series ID: S000003798)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYMNX         | C000010580 |
| Class C    | RYZCX         | C000010581 |

---

### Telecommunications Fund (Series ID: S000003799)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYTLX         | C000010584 |
| Class C    | RYCSX         | C000010585 |

---

### Transportation Fund (Series ID: S000003800)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYTSX         | C000010588 |
| Class C    | RYCNX         | C000010589 |

---

### Energy Services Fund (Series ID: S000003801)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYESX         | C000010592 |
| Class C    | RYVCX         | C000010593 |

---

### Biotechnology Fund (Series ID: S000003802)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYBOX         | C000010596 |
| Class C    | RYCFX         | C000010597 |

---

### Electronics Fund (Series ID: S000003803)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYELX         | C000010600 |
| Class C    | RYSCX         | C000010601 |

---

### Internet Fund (Series ID: S000003804)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYINX         | C000010604 |
| Class C    | RYICX         | C000010605 |

---

### Utilities Fund (Series ID: S000003805)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYUTX         | C000010608 |
| Class C    | RYCUX         | C000010609 |

---

### Energy Fund (Series ID: S000003806)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYENX         | C000010612 |
| Class C    | RYECX         | C000010613 |

---

### Financial Services Fund (Series ID: S000003807)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYFNX         | C000010616 |
| Class C    | RYFCX         | C000010617 |

---

### Health Care Fund (Series ID: S000003808)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYHEX         | C000010620 |
| Class C    | RYHCX         | C000010621 |

---

### Technology Fund (Series ID: S000003809)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYTHX         | C000010624 |
| Class C    | RYCHX         | C000010625 |

---

### Basic Materials Fund (Series ID: S000003810)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYBMX         | C000010628 |
| Class C    | RYBCX         | C000010629 |

---

### Consumer Products Fund (Series ID: S000003811)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYPDX         | C000010632 |
| Class C    | RYCPX         | C000010633 |

---

### Leisure Fund (Series ID: S000003812)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYLSX         | C000010636 |
| Class C    | RYLCX         | C000010637 |

---

### Retailing Fund (Series ID: S000003813)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYRTX         | C000010640 |
| Class C    | RYRCX         | C000010641 |

---

### S&P 500 Fund (Series ID: S000012221)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYSOX         | C000033368 |
| Class C    | RYSYX         | C000033369 |

---

### Russell 2000 Fund (Series ID: S000012222)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYRRX         | C000033371 |
| Class C    | RYROX         | C000033372 |

---

### Guggenheim Managed Futures Strategy Fund (Series ID: S000014094)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Class A             | RYMTX         | C000039064 |
| Class C             | RYMZX         | C000039065 |
| Institutional Class | RYIFX         | C000088408 |

---

### High Yield Strategy Fund (Series ID: S000015881)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYHDX         | C000043615 |
| Class C    | RYHHX         | C000043616 |

---

### Inverse High Yield Strategy Fund (Series ID: S000015882)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYILX         | C000043618 |
| Class C    | RYIYX         | C000043619 |

---

### Emerging Markets 2x Strategy Fund (Series ID: S000018291)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYWTX         | C000050422 |
| Class C    | RYWUX         | C000050423 |

---

### Inverse Emerging Markets 2x Strategy Fund (Series ID: S000018292)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYWWX         | C000050425 |
| Class C    | RYWZX         | C000050426 |

---

### Japan 2x Strategy Fund (Series ID: S000018293)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYJSX         | C000050428 |
| Class C    | RYJTX         | C000050429 |

---

### Emerging Markets Bond Strategy Fund (Series ID: S000041673)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYIEX         | C000129378 |
| Class C    | RYFTX         | C000129379 |

---

### Monthly Rebalance NASDAQ-100 2x Strategy Fund (Series ID: S000047391)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RMQAX         | C000148763 |
| Class C    | RMQCX         | C000148764 |

---

### Dow Jones Industrial Average Fund (Series ID: S000051596)

---

|  |  |  |
|:---|:---|:---|
| Class Name | Ticker Symbol | Class ID   |
| Class A    | RYDAX         | C000162317 |
| Class C    | RYDKX         | C000162318 |

---

## Series and Classes Contracts Data

### U.S. Government Money Market Fund (Series ID: S000003657)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000113321 | Money Market Class Shares | RYFXX           |

### Banking Fund (Series ID: S000003683)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010305 | Class A      | RYBKX           |
| C000010306 | Class C      | RYKCX           |

### Government Long Bond 1.2x Strategy Fund (Series ID: S000003684)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010309 | Class A      | RYABX           |
| C000010310 | Class C      | RYCGX           |

### Mid-Cap 1.5x Strategy Fund (Series ID: S000003685)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010312 | Class A      | RYAHX           |
| C000010313 | Class C      | RYDCX           |

### S&P 500 Pure Value Fund (Series ID: S000003688)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010321 | Class A      | RYLVX           |
| C000010322 | Class C      | RYVVX           |

### S&P 500 Pure Growth Fund (Series ID: S000003689)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010324 | Class A      | RYLGX           |
| C000010325 | Class C      | RYGRX           |

### Inverse Government Long Bond Strategy Fund (Series ID: S000003690)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010328 | Class A      | RYAQX           |
| C000010329 | Class C      | RYJCX           |

### Nova Fund (Series ID: S000003691)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010332 | Class A      | RYANX           |
| C000010333 | Class C      | RYNCX           |

### Inverse S&P 500 Strategy Fund (Series ID: S000003692)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010336 | Class A      | RYARX           |
| C000010337 | Class C      | RYUCX           |

### NASDAQ-100 Fund (Series ID: S000003693)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010340 | Class A      | RYATX           |
| C000010341 | Class C      | RYCOX           |

### Inverse NASDAQ-100 Strategy Fund (Series ID: S000003694)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010344 | Class A      | RYAPX           |
| C000010345 | Class C      | RYACX           |

### Europe 1.25x Strategy Fund (Series ID: S000003695)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010347 | Class A      | RYAEX           |
| C000010348 | Class C      | RYCEX           |

### Russell 2000 1.5x Strategy Fund (Series ID: S000003697)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010353 | Class A      | RYAKX           |
| C000010354 | Class C      | RYCMX           |

### S&P SmallCap 600 Pure Value Fund (Series ID: S000003760)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010430 | Class A      | RYSVX           |
| C000010431 | Class C      | RYYCX           |

### Weakening Dollar 2x Strategy Fund (Series ID: S000003761)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010433 | Class A      | RYWDX           |
| C000010434 | Class C      | RYWJX           |

### Guggenheim Multi-Hedge Strategies Fund (Series ID: S000003763)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000010439 | Class A             | RYMQX           |
| C000010440 | Class C             | RYMRX           |
| C000088407 | Institutional Class | RYIMX           |

### S&P SmallCap 600 Pure Growth Fund (Series ID: S000003768)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010446 | Class A      | RYSGX           |
| C000010447 | Class C      | RYWCX           |

### S&P MidCap 400 Pure Value Fund (Series ID: S000003769)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010449 | Class A      | RYMVX           |
| C000010450 | Class C      | RYMMX           |

### S&P MidCap 400 Pure Growth Fund (Series ID: S000003770)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010452 | Class A      | RYMGX           |
| C000010453 | Class C      | RYCKX           |

### Inverse Mid-Cap Strategy Fund (Series ID: S000003771)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010455 | Class A      | RYAGX           |
| C000010456 | Class C      | RYCLX           |

### Inverse Russell 2000 Strategy Fund (Series ID: S000003772)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010458 | Class A      | RYAFX           |
| C000010459 | Class C      | RYCQX           |

### Real Estate Fund (Series ID: S000003773)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010461 | Class A      | RYREX           |
| C000010462 | Class C      | RYCRX           |

### Commodities Strategy Fund (Series ID: S000003774)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010464 | Class A      | RYMEX           |
| C000010465 | Class C      | RYMJX           |

### Strengthening Dollar 2x Strategy Fund (Series ID: S000003775)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010467 | Class A      | RYSDX           |
| C000010468 | Class C      | RYSJX           |

### Precious Metals Fund (Series ID: S000003798)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010580 | Class A      | RYMNX           |
| C000010581 | Class C      | RYZCX           |

### Telecommunications Fund (Series ID: S000003799)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010584 | Class A      | RYTLX           |
| C000010585 | Class C      | RYCSX           |

### Transportation Fund (Series ID: S000003800)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010588 | Class A      | RYTSX           |
| C000010589 | Class C      | RYCNX           |

### Energy Services Fund (Series ID: S000003801)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010592 | Class A      | RYESX           |
| C000010593 | Class C      | RYVCX           |

### Biotechnology Fund (Series ID: S000003802)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010596 | Class A      | RYBOX           |
| C000010597 | Class C      | RYCFX           |

### Electronics Fund (Series ID: S000003803)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010600 | Class A      | RYELX           |
| C000010601 | Class C      | RYSCX           |

### Internet Fund (Series ID: S000003804)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010604 | Class A      | RYINX           |
| C000010605 | Class C      | RYICX           |

### Utilities Fund (Series ID: S000003805)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010608 | Class A      | RYUTX           |
| C000010609 | Class C      | RYCUX           |

### Energy Fund (Series ID: S000003806)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010612 | Class A      | RYENX           |
| C000010613 | Class C      | RYECX           |

### Financial Services Fund (Series ID: S000003807)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010616 | Class A      | RYFNX           |
| C000010617 | Class C      | RYFCX           |

### Health Care Fund (Series ID: S000003808)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010620 | Class A      | RYHEX           |
| C000010621 | Class C      | RYHCX           |

### Technology Fund (Series ID: S000003809)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010624 | Class A      | RYTHX           |
| C000010625 | Class C      | RYCHX           |

### Basic Materials Fund (Series ID: S000003810)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010628 | Class A      | RYBMX           |
| C000010629 | Class C      | RYBCX           |

### Consumer Products Fund (Series ID: S000003811)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010632 | Class A      | RYPDX           |
| C000010633 | Class C      | RYCPX           |

### Leisure Fund (Series ID: S000003812)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010636 | Class A      | RYLSX           |
| C000010637 | Class C      | RYLCX           |

### Retailing Fund (Series ID: S000003813)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000010640 | Class A      | RYRTX           |
| C000010641 | Class C      | RYRCX           |

### S&P 500 Fund (Series ID: S000012221)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000033368 | Class A      | RYSOX           |
| C000033369 | Class C      | RYSYX           |

### Russell 2000 Fund (Series ID: S000012222)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000033371 | Class A      | RYRRX           |
| C000033372 | Class C      | RYROX           |

### Guggenheim Managed Futures Strategy Fund (Series ID: S000014094)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000039064 | Class A             | RYMTX           |
| C000039065 | Class C             | RYMZX           |
| C000088408 | Institutional Class | RYIFX           |

### High Yield Strategy Fund (Series ID: S000015881)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000043615 | Class A      | RYHDX           |
| C000043616 | Class C      | RYHHX           |

### Inverse High Yield Strategy Fund (Series ID: S000015882)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000043618 | Class A      | RYILX           |
| C000043619 | Class C      | RYIYX           |

### Emerging Markets 2x Strategy Fund (Series ID: S000018291)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000050422 | Class A      | RYWTX           |
| C000050423 | Class C      | RYWUX           |

### Inverse Emerging Markets 2x Strategy Fund (Series ID: S000018292)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000050425 | Class A      | RYWWX           |
| C000050426 | Class C      | RYWZX           |

### Japan 2x Strategy Fund (Series ID: S000018293)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000050428 | Class A      | RYJSX           |
| C000050429 | Class C      | RYJTX           |

### Emerging Markets Bond Strategy Fund (Series ID: S000041673)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000129378 | Class A      | RYIEX           |
| C000129379 | Class C      | RYFTX           |

### Monthly Rebalance NASDAQ-100 2x Strategy Fund (Series ID: S000047391)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000148763 | Class A      | RMQAX           |
| C000148764 | Class C      | RMQCX           |

### Dow Jones Industrial Average Fund (Series ID: S000051596)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000162317 | Class A      | RYDAX           |
| C000162318 | Class C      | RYDKX           |

![](g7zjk9g34zo3fzyd165b5.jpg)

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

**Rockville, Maryland 20850**

**RYDEX DYNAMIC FUNDS**

**RYDEX SERIES FUNDS**

**Supplement dated December 12, 2025**

**This Supplement applies to each series of Rydex Dynamic Funds and Rydex Series Funds (each, a "Fund" and collectively, the "Funds") included in the currently effective Rydex Dynamic Funds' Class A and Class C Shares Statutory Prospectus and Rydex Series Funds' Class A, Class C and Institutional Shares Statutory Prospectuses, as supplemented from time to time (each, a "Prospectus")**

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

Effective immediately, the description of the sales charge waivers and discounts available through Merrill Lynch, Pierce, Fenner & Smith Incorporated in Appendix A ("Intermediary-Specific Sales Charge Waivers and Discounts") of each Prospectus is deleted in its entirety and replaced with the following:

**<u>Merrill Lynch, Pierce, Fenner & Smith Incorporated ("Merrill")</u>**

Purchases or sales of front-end (for example, Class A) or level-load (for example, Class C) mutual fund shares through a Merrill platform or account will be eligible only for the following sales load waivers (front-end, contingent deferred, or back-end waivers) and discounts, which differ from those disclosed elsewhere in this Fund's prospectus. Purchasers will have to buy mutual fund shares directly from the mutual fund company or through another intermediary to be eligible for waivers or discounts not listed below.

It is the client's responsibility to notify Merrill at the time of purchase or sale of any relationship or other facts that qualify the transaction for a waiver or discount. A Merrill representative may ask for reasonable documentation of such facts and Merrill may condition the granting of a waiver or discount on the timely receipt of such documentation.

Additional information on waivers, discounts, and share class exchanges is available in the Merrill Sales Load Waiver and Discounts Supplement (the "Merrill SLWD Supplement") and in the Mutual Fund Investing at Merrill pamphlet at ml.com/funds. Clients are encouraged to review these documents and speak with their financial advisor to determine whether a transaction is eligible for a waiver or discount.

**Front-end Load Waivers Available at Merrill**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Shares of mutual funds available for purchase by employer-sponsored retirement, deferred compensation, and employee benefit plans (including health savings accounts) and trusts used to fund those plans provided the shares are not held in a commission-based brokerage account and shares are held for the benefit of the plan. For purposes of this provision, employer-sponsored retirement plans do not include SEP IRAs, Simple IRAs, SAR-SEPs or Keogh plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Shares purchased through a Merrill investment advisory program.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Brokerage class shares exchanged from advisory class shares due to the holdings moving from a Merrill investment advisory program to a Merrill brokerage account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Shares purchased through the Merrill Edge Self-Directed platform.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

![](gv65vqmfewz75hkpwlyci.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Shares purchased through the systematic reinvestment of capital gains distributions and dividend reinvestment when purchasing shares of the same mutual fund in the same account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Shares exchanged from level-load shares to front-end load shares of the same mutual fund in accordance with the description in the Merrill SLWD Supplement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Shares purchased by eligible employees of Merrill or its affiliates and their family members who purchase shares in accounts within the employee's Merrill Household (as defined in the Merrill

SLWD Supplement).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Shares purchased by eligible persons associated with the fund as defined in this prospectus (e.g. the fund's officers or trustees).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Shares purchased from the proceeds of a mutual fund redemption in front-end load shares provided (1) the repurchase is in a mutual fund within the same fund family; (2) the repurchase occurs within 90 calendar days from the redemption trade date, and (3) the redemption and purchase occur in the same account (known as Rights of Reinstatement). Automated transactions (i.e. systematic purchases and withdrawals) and purchases made after shares are automatically sold to pay Merrill's account maintenance fees are not eligible for Rights of Reinstatement.

**Contingent Deferred Sales Charge ("CDSC") Waivers on Front-end, Back-end, and Level Load Shares Available at Merrill**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Shares sold due to the client's death or disability (as defined by Internal Revenue Code Section

22(e)(3)).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Shares sold pursuant to a systematic withdrawal program subject to Merrill's maximum systematic withdrawal limits as described in the Merrill SLWD Supplement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Shares sold due to return of excess contributions from an IRA account.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the investor reaching the qualified age based on applicable IRS regulation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Front-end or level-load shares held in commission-based, non-taxable retirement brokerage accounts (e.g. traditional, Roth, rollover, SEP IRAs, Simple IRAs, SAR-SEPs or Keogh plans) that are transferred to fee-based accounts or platforms and exchanged for a lower cost share class of the same mutual fund.

**Front-end Load Discounts Available at Merrill: Breakpoints, Rights of Accumulation & Letters of Intent**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Breakpoint discounts, as described in this prospectus, where the sales load is at or below the maximum sales load that Merrill permits to be assessed to a front-end load purchase, as de- scribed in the Merrill SLWD Supplement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Rights of Accumulation (ROA), as described in the Merrill SLWD Supplement, which entitle clients to breakpoint discounts based on the aggregated holdings of mutual fund family assets held in accounts in their Merrill Household. On or about May 1, 2026, assets not held at Merrill will no longer be included in the ROA calculation. For more detail on the timing and calculation, please refer to the Merrill SLWD Supplement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Letters of Intent (LOI), which allow for breakpoint discounts on eligible new purchases based on anticipated future eligible purchases within a fund family at Merrill, in accounts within your Merrill Household, as further described in the Merrill SLWD Supplement. On or about May 1, 2026, Merrill will no longer accept new LOIs. For more detail on the timing, please refer to the Merrill SLWD Supplement.

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

SUPP-RYDEX-1225x0526