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Top Rydex Funds
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ShareIn our Best of Funds Family series, we are focusing today on funds from Rydex Investments which manages over $17 billion in assets via more than 100 mutual funds and exchange traded products.We are spotlighting five funds here: four sector funds (Electronics, Basic Materials, Biotechnology & Precious Metals) and an Index fund.
Rydex Electronics (RYSIX) seeks long-term capital growth. It was incepted in July 1998.
Companies in the electronics sector, including manufacturers and distributors of semiconductors and other electronic components and devices constitute the major investments of the fund. It invests the lion’s share of its assets in equity securities of electronics companies traded in the US. The fund may also opt for futures and options transactions, purchase ADRs and U.S. government securities, and enter into repurchase agreements.
The fund has an expense ratio of 1.34% against a category average of 1.84%. As of September 2009, it has a portfolio turnover of 408% against a category average of 176%. The fund’s top holdings include Intel Corporation, Texas Instruments and Applied Materials. For the one-year period ended March 2009, the fund had outperformed the S&P 500 Index.
Rydex Basic Materials (RYBIX) was incepted in April 1998. The fund seeks capital appreciation.
The fund’s primary focus are companies engaged in the mining, manufacture, or sale of basic materials, such as lumber, steel, iron, aluminum, concrete and chemicals. It also invests in basic materials companies which are involved in the purchase or manufacture of basic building and manufacturing materials. Securities which the fund looks to invest in must be traded in US markets.
The fund has an expense ratio of 1.37% against a category average of 1.40%. As of September 2009, it has a portfolio turnover of 288% against a category average of 170%. The fund’s top holdings include BHP Billiton Limited ADR, Monsanto and Barrick Gold Corporation. For the one-year period ended March 31, 2009, the fund had outperformed the S&P 500 Index.
Rydex Biotechnology (RYOIX) seeks long-term capital growth. It was incepted in April 1998.
The fund invests in companies engaged in research and development, genetic and biological engineering, and in the design, manufacture, or sale of related biotechnology products or services. Equity securities of biotechnology companies constitute the majority of the fund’s investments and those selected must be traded in the United States. The fund may also engage in futures and options transactions, purchase ADRs and U.S. government securities, and enter into repurchase agreements.
The fund has an expense ratio of 1.38% against a category average of 1.91%. As of September 2009, it has a portfolio turnover of 370% against a category average of 135%. The fund’s top holdings include Amgen Inc, Gilead Sciences Inc and Celgene Corporation. For the one-year period ended March 31, 2009, the fund had outperformed the S&P 500 Index.
Rydex Precious Metals Inv (RYPMX) seeks long-term capital appreciation. It was incepted in December 1993.
U.S. and foreign companies in the precious metals sector constitute the major investments of the fund. Such firms include those engaged in exploration, mining, production and development, and other precious metals-related services. The fund may also engage in futures and options transactions, purchase ADRs and U.S. government securities, and enter into repurchase agreements.
The fund has an expense ratio of 1.28% against a category average of 1.47%. As of September 2009, it has a portfolio turnover of 245% against a category average of 75%. The fund’s top holdings include Freeport-McMoRan Copper & Gold B, Barrick Gold Corporation and Newmont Mining Corporation. For the one-year period ended March 31, 2009, the fund had outperformed the S&P 500 Index.
Rydex Inverse S&P 500 Strategy (RYURX) seeks to provide investment results that inversely correlate to the performance of the S&P 500 Index. It was incepted in January 1994.
The fund's objective is to perform exactly opposite the S&P 500 index, unlike a traditional index fund, and the fund does not own the securities included in the index. Instead, the fund invests heavily in short sales of securities or futures contracts, and in options on securities, futures contracts and stock indices. It holds U.S. government securities or cash equivalents to collateralize these futures and options contracts on a day-to-day basis. The fund may also enter into repurchase agreements and sell securities short.
The fund has an expense ratio of 1.43% against a category average of 1.99%. As of September 2009, it has a portfolio turnover of 28% against a category average of 112%. The fund’s top holdings include FNMA, Credit Suisse Swap and S&P 500 MAR 10 MINI. Inverse S&P 500 Strategy Fund Investor Class returned 37.66% for the year. The fund achieved a daily correlation of more than 99% to its benchmark of -100% of the daily price movement of the S&P 500 Index.
Michael P. Byrum has been lead manager of all these funds since December 2008. Byrum is a Charted Financial Analyst and is president and CIO of Rydex Investments.
Click here to see all the mutual funds offered by Rydex.
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Read the full analyst report on RYSIX
Read the full analyst report on RYBIX
Read the full analyst report on RYOIX
Read the full analyst report on RYPMX
Read the full analyst report on RYURX
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| Market Summary | May 26, 2012 03:01 am ET |
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