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Rydex Inverse Russell 2000® Strategy Fund Class A RYAFX

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Strategy

The investment seeks to provide investment results that match, before fees and expenses, the inverse (opposite) of the performance of the Russell 2000® Index on a daily basis. The fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in financial instruments with economic characteristics that should perform opposite to the securities of companies included in the underlying index. The index is composed of the 2,000 smallest companies in the Russell 3000® Index. The fund is non-diversified.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
RYSHX	Rydex Inverse Russell 2000® Strategy Fund Class H	No Load	Open	—	—	Feb 20, 2004	$48.21M	1.630%	Below Average	$2,500	$164,089.94
RYAFX	Rydex Inverse Russell 2000® Strategy Fund Class A	Front Load	Open	—	—	Mar 31, 2004	$40,727.00	1.630%	Below Average	$2,500	−$24,165.26
RYCQX	Rydex Inverse Russell 2000® Strategy Fund Class C	Level Load	Open	—	—	Feb 20, 2004	$111.00	2.430%	Below Average	$2,500	$2.34

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