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    Rydex Nova Inv (RYNVX)

    50.07 Up 0.91(1.85%) Mar 30

    Profile as of Feb 27, 2015Get Profile for:
    Rydex Nova Inv
    Rydex Series Funds9601 Blackwell Road,Suite 500Rockville, MD 20850
    Phone: 800-820-0888
    Fund Overview 
    Category:Trading-Leveraged Equity
    Fund Family:Rydex Funds
    Net Assets:182.55M
    Year-to-Date Return:3.58%
    Morningstar Rating:2 stars
    Fund Inception Date:Jul 12, 1993
    Morningstar Style Box 
    Trading-Leveraged Equity
    [View Category Definition]
    View Top Trading-Leveraged Equity Funds
    About the Morningstar Style Box
    Management Information 
    Michael P. Byrum
    Lead Manager since Oct 15, 1998
    Michael P. Byrum, Portfolio Manager of Security Investors. Mr. Byrum joined the Investment Manager in 2010. He was also the President and Chief Investment Officer of Rydex Investments since it was founded 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. He was named Vice President of Portfolio for Rydex Investments in 1998, and Executive Vice President in 2000. Prior to joining Rydex Investments, Mr. Byrum worked for Money Management Associates, the investment adviser for Rushmore Funds, Inc. Prior to joining Rydex Advisors, LLC, Mr. Byrum worked for Money Management Associates, Rydex Advisors, LLC for Rushmore Funds, Inc. He holds a degree in finance from Miami University of Ohio and is a member of the CFA Institute and the Washington Society of Investment Analysts.
    Investment Information 
    Min Initial Investment:2,500
    Min Initial Investment, IRA:1,000
    Min Initial Investment, AIP:N/A
    Min Subsequent Investment:N/A
    Min Subsequent Investment, IRA:N/A
    Min Subsequent Investment, AIP:N/A
    RYNVX can be purchased from 98 brokerages.

    Fund Summary 
    The investment seeks to provide investment results that match, before fees and expenses, 150% of the performance of the S&P 500® Index on a daily basis. The fund employs as its investment strategy a program of investing in the common stock of companies that are generally within the capitalization range of the underlying index and leveraged derivative instruments, which primarily consist of equity index swap agreements, futures contracts, and options on securities, futures contracts, and stock indices. It may hold U.S. government securities or cash equivalents to collateralize its derivative positions. The fund is non-diversified.

    Fund Operations 
    Last Dividend (Nov 19, 2014) : 0.05
    Last Cap Gain : 0.00
    Annual Holdings Turnover (Mar 29, 2015) : 259.00%
    Average for Category:241.16%
    Fees & Expenses 
    ExpenseRYNVXCategory Avg
    Annual Report Expense Ratio (net):1.78%2.04%
    Prospectus Net Expense Ratio:1.28%N/A
    Prospectus Gross Expense Ratio:1.28%N/A
    Max 12b1 Fee:N/AN/A
    Max Front End Sales Load:N/A4.75%
    Max Deferred Sales Load: N/A1.00%
    3 Yr Expense Projection*:406700
    5 Yr Expense Projection*:7021,165
    10 Yr Expense Projection*:1,5452,449
    * Per $10,000 invested