Rydex Investments 9601 Blackwell Road Suite 500 Rockville, MD 20850
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©2008 Rydex Distributors, Inc. All Rights Reserved. Essential Portfolio Theory, RydexShares and ETF Essentials are trademarks of Rydex Investments and protected by copyright. Rydex funds are distributed by Rydex Distributors, Inc., an affiliate of Rydex Investments.

For more complete information regarding Rydex funds, call 800.820.0888 or click here for a prospectus. Investors should consider the investment objectives, risks, charges and expenses of a fund carefully before investing. The fund's prospectus contains this and other information about the fund. Read the prospectus carefully before you invest or send money.

The information provided here is intended to be general in nature and should not be construed as investment advice nor a recommendation of any specific security or strategy.

This information does not constitute tax advice. Please consult your tax advisor and/or state and local tax offices for more complete information.

Shares of mutual funds are not deposits of, or guaranteed or endorsed by, any financial institution; are not insured by the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, or any other agency; and involve risk, including the possible loss of the principal amount invested.

“Standard & Poor’s^®”, “S&P^®”, “S&P 500^®”, “Standard & Poor’s MidCap 400™”, and “S&P MidCap 400™“ are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by Rydex Investments and its affiliates. Rydex S&P ETFs are not sponsored, endorsed, sold nor promoted by Standard & Poor’s and Standard & Poor’s makes no representation regarding the advisability of investing in Rydex S&P ETFs. “Dow Jones,” “Dow Jones Industrial Average^SM,” and “DJIA^SM” are service marks of Dow Jones & Company, Inc. and have been licensed for use for certain purposes by Rydex Investments and its affiliates. The Russell 2000^® Index is a trademark of Russell Investments (Russell) and has been licensed for use by Rydex Investments and affiliates. “New York Board of Trade^®,“ “NYBOT^®,” The U.S. Dollar Index^®” and “USDX^®” are registered trademarks and service marks of the Board of Trade of the City of New York, Inc. and have been licensed for use by Rydex Investments and its affiliates. Rydex funds are not sponsored, endorsed, sold or promoted by Dow Jones, Standard & Poor’s, NASDAQ, Russell or NYBOT. The aforementioned firms make no representation regarding the advisability of investing in the funds. Not all funds and all share classes are available at all firms offering Rydex funds.

Performance displayed represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate so that when shares are redeemed they may be worth more or less than original costs.

¹Rydex Sector Rotation Fund may not be suitable for all investors. Investing in sector funds is more volatile than investing in broadly diversified funds as there can be greater risk due to the concentration of the fund’s holding in issuers of the same or similar offerings. As a result, changes in the market value of a single security could cause greater fluctuations in the value of the fund shares than would occur in a more diversified fund. Composition is subject to change. Shares are not deposits of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.

Rydex funds are distributed by Rydex Distributors, Inc., an affiliate of Rydex Investments.

²Rydex Sector Rotation Fund H-Class was ranked against the following numbers of multi-cap core funds over the following time periods ending 12/31/2007: 650 in the last three years and 495 in the last five years. With respect to these multi-cap core funds, Rydex Sector Rotation Fund H-Class received a Lipper Ranking of one out of 650 for the three-year period and 75 out of 495 for the five-year period.

The fund is ranked based on total return as of 12/31/2007. Each fund is ranked within a universe of funds with similar portfolio characteristics and capitalizations. Ranking include the reinvestment of dividends and capital gains but exclude the effect of the fund’s sales load, if applicable. Lipper Inc. is a nationally recognized organization that ranks the performance of mutual funds.

Although Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Lipper. Users acknowledge that they have not relied upon any warranty, condition, guarantee or representation made by Lipper. Any use of the data for analyzing, managing or trading financial instruments is at the user’s own risk. This is not an offer to buy or sell securities.

³Rydex Alternative Strategies Allocation Fund is subject to a number of risks and may not be suitable for all investors. Although the fund's asset allocation among several underlying funds that represent different alternative asset classes and strategies generally limits risk and exposure to any one asset class or strategy, the risk remains that the fund’s investment advisor may favor an asset class or strategy that performs poorly relative to other asset classes and strategies. There is also no guarantee that the underlying funds will achieve their investment objectives. Each of the underlying funds in which the fund invests has its own investment risks, and those risks can affect the value of the fund's shares and investments. The risks of the underlying funds include those associated with investments in derivative instruments, leveraged and short selling techniques, commodities markets, foreign securities and currencies and lower rated ('junk') bonds. Additionally, the fund will bear a proportionate share of each underlying fund's operating expenses. See the prospectus for more information on these and additional risks.

⁴Diversification neither ensures a profit nor eliminates the risk of experiencing investment losses.

⁵Rydex Russell Top 50^® ETF is subject to risks similar to those of stocks and may not be suitable for all investors.  Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than original cost. Additionally, the fund is subject to the risk that large-capitalization stocks may underperform other segments of the equity market or the equity markets as a whole. See the prospectus for more details.

The Russell Top 50^® Index is a trademark of Russell Investments and has been licensed for use by Rydex Investments and its affiliates. Russell is not the issuer of Rydex Russell Top 50^® ETF and Russell’s publication of the Russell indices or the licensing of its trademarks for use in connection with Rydex Russell Top 50^® ETF does not in any way suggest or imply a representation or opinion with Russell as to the attractiveness of an investment in Rydex Russell Top 50^® ETF or as to the results to be obtained by any person or any entity from the use of the Russell index or any data included therein.

⁶ Rydex S&P Equal Weight ETF is subject to risks similar to those of stocks and may not be suitable for all investors. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than original cost. The elimination of the bias toward large-cap companies in the fund lessens the impact of large-cap gains as compared to those reflected in funds benchmarked to the S&P 500. Please see the prospectus for more details.

⁷RydexShares are subject to risks similar to those of stocks and may not be suitable for all investors. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than original cost. Inverse and leveraged ETFs may not be suitable for all investors. The more an ETF invests in leveraged instruments, the more the leverage will magnify any gains or losses on those investments. This fund may not be suitable for all investors. Inverse funds involve certain risks, which include increased volatility due to the funds’ possible use of short sales of securities and derivatives, such as options and futures. The funds' use of derivatives, such as futures, options and swap agreements, may expose the funds' shareholders to additional risks that they would not be subject to if they invested directly in the securities underlying those derivatives. Short-selling involves increased risks and costs. You risk paying more for a security than you received from its sale.

“McGraw-Hill®”, Standard & Poor’s®” and “S&P®, are trademarks of The McGraw-Hill Companies, Inc. The stocks included in each Select Sector Index were selected by a compilation agent. The composition and weightings of the stocks included in each Select Sector Index can be expected to differ from any similar S&P 500 sector index that is published by S&P. Select Sector indices have been licensed for use by Rydex Investments and its affiliates. Rydex ETFs are not sponsored, endorsed, sold or promoted by Standard & Poor’s and S&P makes no representation regarding the advisability of investing in the funds. This entity and its affiliates make no warranties and bear no liability with respect to Rydex Investments.

Rydex ETFs are distributed by Rydex Distributors, Inc., an affiliate of Rydex Investments.