RYANX : Rydex Nova Fund Class A

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 swaps and swaps on exchange-traded funds ("ETFs"), futures contracts, and options on securities, futures contracts, and stock indices. The fund is non-diversified.