Rydex High Yield Strategy Fund Class A is an open-end mutual fund designed to mirror the performance characteristics of the U.S. high yield bond market. The fund primarily seeks correlation to this market by using derivatives and fixed income instruments, including credit default swaps, swaps on exchange-traded funds, high yield securities, and bond futures, allowing it to obtain broad credit exposure without holding every underlying bond directly. It is team managed and benchmarks its results against the Bloomberg U.S. Corporate High Yield Index, a widely followed gauge of below-investment-grade corporate debt. The strategy emphasizes systematic exposure rather than discretionary bond selection, positioning it as a tool for investors seeking dedicated access to non-investment-grade credit risk within diversified portfolios. The fund is part of the Rydex lineup under Guggenheim Investments, with Security Investors, LLC serving as investment adviser, and it distributes income on an annual basis when applicable. Launched in 2007, it offers a long-running vehicle for accessing the high yield segment through a derivatives-enabled framework that targets market-level behavior before fees and expenses.
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