Morningstar

Guggenheim Macro Opportunities Fund Class P GIOPX

Morningstar Medalist Rating
Medalist Rating as of | See Guggenheim Investment Hub
  • NAV / 1-Day Return 23.86  /  −0.13 %
  • Total Assets 8.6B
  • Adj. Expense Ratio
    1.340%
  • Expense Ratio 1.330%
  • Distribution Fee Level Above Average
  • Share Class Type No Load
  • Category Nontraditional Bond
  • Credit Quality / Interest Rate Sensitivity Low/Limited
  • Min. Initial Investment 0
  • Status Open
  • TTM Yield 5.83%
  • Effective Duration 3.47 years

USD | NAV as of Oct 03, 2026 | 1-Day Return as of Oct 03, 2026, 12:11 AM GMT+0

Morningstar’s Analysis GIOPX

Will GIOPX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable GIOPX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the GIOPX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of GIOPX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Guggenheim Macro Opportunities has further validated its approach.

Senior Principal Eric Jacobson

Eric Jacobson

Senior Principal

Summary

Former CIO Scott Minerd, who passed away in 2022, developed the fund's process. It’s a distinctive framework that draws on lessons from behavioral finance to decentralize decision-making among groups focused on macro research, sector research, portfolio construction, and portfolio management. Each group uses a deliberate, slowed-down process to avoid mistakes. This fund and its siblings have very strong records, including over the more than three years since Minerd’s passing.

by Eric Jacobson
Rated on Published on

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Portfolio Holdings GIOPX

More GIOPX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings —
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Federal National Mortgage Association 5.5%

7.03 732M
Securitized

Guggenheim Limited Duration R6

1.38 144M
—

Federal National Mortgage Association 3%

1.19 124M
Securitized

Federal National Mortgage Association 5%

1.19 124M
Securitized

Macro Cfc

1.07 111M
—

Federated Hermes US Treas Cash Res IS

0.76 79M
Cash and Equivalents

State Street® SPDR® S&P 500® ETF

0.71 74M
—

Federal Home Loan Mortgage Corp. 5.5%

0.70 73M
Securitized

Federal National Mortgage Association 5%

0.66 68M
Securitized

Australia (Commonwealth of) 4.25%

0.57 60M
Government

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