Rydex Govt Long Bond 1.2x Strategy A (RYABX)

Fund Fact Sheet 12-31-09 09-30-09 06-30-2009 03-31-2009 Prospectus Fact Sheet Explanation

Fund Summary The investment seeks returns that correspond to 120% of the price movement of the long bond. The fund invests in U.S. government securities, including U.S. Treasury zero-coupon bonds. The fund may borrow money to purchase securities; it may borrow only from banks and only in amounts not exceeding one third of the value of its assets less liabilities. The fund may engage in futures contracts and options on futures contracts on U.S. Treasury bonds. It may also invest in short-term U.S. government securities and repurchase agreements for defensive purposes. The fund is nondiversified.

Fund Management Michael P. Byrum, Lead Manager since 01-Aug-00
Byrum is president and CIO of Rydex Investments, his employer since its foundation in 1993. He has ultimate responsibility for the management of the funds. He was named the president of Rydex Investments in 2004 and has served as chief investment officer since 2003.Prior to joining Rydex Investments, Mr. Byrum worked for Money Management Associates, the investment adviser for Rushmore Funds, Inc. Byrum holds the Charted Financial Analyst designation.