The investment seeks total return, before expenses and costs, that inversely correlates to the price movements of Long Treasury bond. The fund employs as its investment strategy a program of engaging in short sales and investing to a significant extent in derivative instruments, which primarily consist of futures contracts, interest rate swaps, and options on securities and futures contracts. It invests at least 80% of net assets in financial instruments with economic characteristics that should perform opposite to fixed-income securities issued by the U.S. government. The fund is nondiversified.
Fund filings (PDF) »

Asset managers:
Michael Dellapa (Started: Sep 30, 2005)
Ryan Harder (Started: Mar 14, 2008)
Michael Byrum (Started: Aug 1, 2000)

Advisor Company:
Rydex Investments
Fund family reports on Morningstar »

	1 year	3 years	5 years	10 years
Alpha*	49.65	0.14	-0.66	-4.89
Beta*	-44.39	-1.58	-7.46	-5.07
Mean annual return	-1.40	-0.49	-0.26	-0.41
R-squared*	31.24	98.56	3.71	1.41
Standard deviation	32.12	19.97	16.72	14.53
Sharpe ratio	-0.53	-0.42	-0.37	-0.54
* Against standard index

Risk measurement details »

Security	Net Assets
FNMA	9.37%
FHLBA	9.21%
FNMA	4.69%
FNMA	4.13%
US LONG BOND(CBT) DEC 09	3.46%
FNMA	2.82%

Holdings Performance »