Read the fund’s prospectus carefully before investing. It contains the fund’s investment objectives, risks, charges, expenses and other information. Obtain a prospectus at rydexinvestments.com or call 877.RYDEX34.
RydexShares 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. 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. These funds are considered nondiversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single security could cause greater fluctuations in the value of fund shares than would occur in a more diversified fund.
"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.
RydexShares are distributed by Rydex Distributors, Inc., an affiliate of Rydex Investments.
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