# EDGAR Filing Document

**Accession Number:** 0000217087
**File Stem:** 0001193125-23-020317
**Filing Date:** 2023-1
**Character Count:** 2692
**Document Hash:** d675e54d982ca527a99a732542f0a530
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-020317.hdr.sgml**: 20230131

**ACCESSION NUMBER**: 0001193125-23-020317

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230131

**DATE AS OF CHANGE**: 20230131

**EFFECTIVENESS DATE**: 20230131

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Guggenheim Variable Funds Trust
- **CENTRAL INDEX KEY:** 0000217087
- **IRS NUMBER:** 480873454
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 002-59353
- **FILM NUMBER:** 23572519

**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:** SBL FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### SERIES E (TOTAL RETURN BOND SERIES) (Series ID: S000010066)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000027865 | A            |  |

**Guggenheim Variable Funds Trust** 

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

**Rockville, Maryland 20850** 

**Supplement Dated January 31, 2023** 

**to the currently effective Summary Prospectus dated May 1, 2022, as may be supplemented** 

**from time to time, for Series E (Total Return Bond Series) (the "Fund")** 

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

Effective immediately, Evan L. Serdensky is added as a portfolio manager of the Fund. Accordingly, the table in the section of the Summary Prospectus entitled "Management of the Fund" is deleted in its entirety and replaced as follows to include Mr. Serdensky:

---

| | | |
|:---|:---|:---|
| **Name\*** | **Experience with the**<br> **Fund** | **Primary Title with Investment Manager** |
| Anne B. Walsh | Since 2012 | Managing Partner, Chief Investment Officer and<br> Portfolio Manager |
| Steven H. Brown | Since 2016 | Chief Investment Officer, Total Return and Macro Strategies, and<br> Senior Managing Director and Portfolio Manager |
| Adam J. Bloch | Since 2016 | Managing Director and Portfolio Manager |
| Evan L. Serdensky | Since January 2023 | Director and Portfolio Manager |

---

\* Each portfolio manager is primarily responsible for the day-to-day management of the Fund.

**Please Retain This Supplement for Future Reference** 

VTUSIB-SUP-0123x0523