0000891804-13-001151.txt : 20130912 0000891804-13-001151.hdr.sgml : 20130912 20130912115731 ACCESSION NUMBER: 0000891804-13-001151 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130912 DATE AS OF CHANGE: 20130912 EFFECTIVENESS DATE: 20130912 FILER: COMPANY DATA: COMPANY CONFORMED NAME: RYDEX VARIABLE TRUST CENTRAL INDEX KEY: 0001064046 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-57017 FILM NUMBER: 131093220 BUSINESS ADDRESS: STREET 1: 805 KING FARM BLVD STREET 2: SUITE 600 CITY: ROCKVILLE STATE: MD ZIP: 20850 BUSINESS PHONE: 301-296-5100 MAIL ADDRESS: STREET 1: 805 KING FARM BLVD STREET 2: SUITE 600 CITY: ROCKVILLE STATE: MD ZIP: 20850 0001064046 S000003729 U.S. Long Short Momentum Fund C000010398 Variable Annuity 497 1 rydex57762-497xbrl.htm RYDEX VARIABLE TRUST rydex57762-497xbrl.htm
EXPLANATORY NOTE
 
The sole purpose of this filing is to file supplemental risk/return summary information for the U.S. Long Short Momentum Fund (to be renamed the “Long Short Equity Fund”), a separate series of Rydex Variable Trust, in interactive data format.

EX-101.INS 3 ck0001064046-20130903.xml INSTANCE DOCUMENT 0001064046 2013-09-03 2013-09-03 0001064046 ck0001064046:S000003729Member 2013-09-03 2013-09-03 iso4217:USD xbrli:pure 497 2013-09-03 RYDEX VARIABLE TRUST 0001064046 false 2013-09-03 2013-09-03 2013-05-01 <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> <td style="width: 4%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>B.</b></font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Change of Principal Investment Strategies</b></font></td></tr> </table> <p style="margin: 0pt">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0">On the Effective Date, the current description of the Fund&#146;s principal investment strategies under the heading &#147;Principal Investment Strategies&#148; in the &#147;Fund Summary&#148; section of the Fund&#146;s Prospectuses will be replaced in its entirety as set forth below.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0.25in 0 0 17.45pt"><b>PRINCIPAL INVESTMENT STRATEGIES</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0 17.45pt">The Fund will invest, under normal circumstances, at least 80% of its assets (net assets plus the amount of borrowings for investment purposes) in long and short equity or equity-like securities, including individual securities and derivatives (based on their notional value for purposes of this 80% calculation) giving exposure (<i>i.e.</i>, economic characteristics similar to) to different sectors or industries to which the Fund is seeking exposure.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0 17.45pt">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 17.45pt">The Fund seeks to respond to the dynamically changing economy by moving its investments among different industries and styles&#160;<i>(i.e</i>., non-industry factors including, but not limited to, valuations, growth prospects and capitalization). The Advisor allocates investments to industries and styles according to several measures of momentum. Companies associated with industries and/or styles demonstrating positive momentum are favored while those experiencing negative momentum are disfavored. The Fund may hold both long and short positions. Equity positions are determined based on their associated industry and style momentum, risk characteristics, and liquidity. The Fund invests in equity securities, including small-, mid-, and large-capitalization securities, such as U.S. traded common stocks and American Depositary Receipts (&#147;ADRs&#148;), but also may invest in derivative instruments which primarily consist of equity index swaps, futures contracts, and options on securities, futures contracts, and stock indices. Equity index swaps and futures and options contracts enable the Fund to pursue its investment objective without investing directly in the securities of companies included in the different sectors or industries to which the Fund is seeking exposure. The Fund may invest in derivatives to hedge or gain leveraged exposure to a particular sector, industry or company depending on market conditions. Certain of the Fund&#146;s derivative investments may be traded in the over-the-counter (&#147;OTC&#148;) market, which generally provides for less transparency than exchange-traded derivative instruments. The Fund also may enter into short sales of broad-based stock indices for hedging purposes in an effort to reduce portfolio risk or volatility. While the Fund anticipates investing in these instruments to seek to achieve its investment objective, the extent of the Fund&#146;s investment in these instruments may vary from day to day depending on a number of different factors, including price, availability, and general market conditions. On a day-to-day basis, the Fund may hold U.S. government securities, short-term, high quality (rated AA or higher) fixed income securities, money market instruments, overnight and fixed-term repurchase agreements, cash and other cash equivalents with maturities of one year or less to collateralize its derivative positions or for defensive purposes to seek to avoid losses during adverse market conditions. The Fund also may enter into repurchase agreements with counterparties that are deemed to present acceptable credit risks. In an effort to ensure that the Fund is fully invested on a day-to-day basis, the Fund may conduct significant trading activity at or just prior to the close of the U.S. financial markets. The Fund is non-diversified and, therefore, may invest a greater percentage of its assets in a particular issuer in comparison to a diversified fund.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&#160;</p> <p style="margin: 0pt"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 24pt 0 0; text-align: center"><b>Please Retain This Supplement for Future Reference</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">USLSMVT-SUP1-0813x0514</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><b>U.S. Long Short Momentum Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><b>Supplement Dated August&#160;30, 2013</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>to the Summary Prospectus, Statutory Prospectus</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>and Statement of Additional Information Dated May&#160;1, 2013,</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>as supplemented from time to time</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><b>IMPORTANT NOTICE REGARDING CHANGE IN INVESTMENT POLICY</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"><b>This supplement provides additional information beyond that contained in the currently effective Summary Prospectus, Statutory Prospectus (together, with the Summary Prospectus, the &#147;Prospectuses&#148;) and Statement of Additional Information the (&#147;SAI&#148;) for U.S. Long Short Momentum Fund (the &#147;Fund&#148;) and should be read in conjunction with the Prospectuses and SAI.</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">At a meeting held on August&#160;26, 2013, the Board of Trustees (the &#147;Board&#148;) of Rydex Variable Trust (the &#147;Trust&#148;) approved a name change for the Fund. The Board also approved the adoption of a non-fundamental investment policy for the Fund. These changes, which are discussed in more detail below, will become effective on October&#160;30, 2013, or such later date as deemed appropriate by the officers of the Trust (the &#147;Effective Date&#148;).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4%; font: 8pt/115% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>A.</b></font></td> <td style="font: 8pt/115% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fund Name Change</b></font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0">On the Effective Date, the new name of the Fund will be &#147;Long Short Equity Fund.&#148; Therefore, all references to the &#147;U.S. Long Short Momentum Fund&#148; in the Fund&#146;s Prospectuses and SAI will be replaced with &#147;Long Short Equity Fund.&#148;</p> EX-101.SCH 4 ck0001064046-20130903.xsd TAXONOMY SCHEMA 0003 - Document - Document And Entity Information link:presentationLink link:calculationLink link:definitionLink 0004 - Document - U.S. Long Short Momentum Fund {Unlabeled} link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 5 ck0001064046-20130903_cal.xml TAXONOMY CALCULATIONS EX-101.DEF 6 ck0001064046-20130903_def.xml TAXONOMY DEFINITIONS EX-101.LAB 7 ck0001064046-20130903_lab.xml TAXONOMY LABELS U.S. Long Short Momentum Fund Legal Entity [Axis] Document And Entity Information Document Type Document Period End Date Registrant Name Central Index Key Amendment Flag Amendment Description Document Creation Date Document Effective Date Prospectus Date Prospectus: [Table] Prospectus [Line Items] Share Class [Axis] Supplement [Text Block] Objective [Heading] Objective, Primary [Text Block] Objective, Secondary [Text Block] Expense [Heading] Expense Narrative [Text Block] Shareholder Fees Caption [Text] Shareholder Fees [Table] Operating Expenses Caption [Text] Annual Fund Operating Expenses [Table] Expense Footnotes [Text Block] Expenses Deferred Charges [Text Block] Expenses Range of Exchange Fees [Text Block] Expense Example [Heading] Expense Example by Year [Heading] Expense Example Narrative [Text Block] Expense Example by, Year, Caption [Text] Expense Example, With Redemption [Table] Expense Example, No Redemption Narrative [Text Block] Expense Example, No Redemption, By Year, Caption [Text] Expense Example, No Redemption [Table] Expense Example Footnotes [Text Block] Expense Example Closing [Text Block] Portfolio Turnover [Heading] Portfolio Turnover [Text Block] Strategy [Heading] Strategy Narrative [Text Block] Risk [Heading] Risk Narrative [Text Block] Risk Footnotes [Text Block] Risk Closing [Text Block] Bar Chart and Performance Table [Heading] Performance Narrative [Text Block] Bar Chart Narrative [Text Block] Bar Chart [Heading] Bar Chart [Table] Bar Chart Footnotes [Text Block] Bar Chart Closing [Text Block] Performance Table Heading Performance Table Narrative Performance [Table] Market Index Performance [Table] Performance Table Footnotes Performance Table Closing [Text Block] Supplement Closing [Text Block] Risk/Return [Heading] Shareholder Fees Column [Text] Maximum Cumulative Sales Charge (as a percentage of Offering Price) Maximum Cumulative Sales Charge (as a percentage) Maximum Sales Charge Imposed on Purchases (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage of Offering Price) Maximum Deferred Sales Charge (as a percentage) Maximum Sales Charge on Reinvested Dividends and Distributions (as a percentage) Redemption Fee (as a percentage of Amount Redeemed) Redemption Fee Exchange Fee (as a percentage of Amount Redeemed) Exchange Fee Maximum Account Fee (as a percentage of Assets) Maximum Account Fee Shareholder Fee, Other Operating Expenses Column [Text] Management Fees (as a percentage of Assets) Distribution and Service (12b-1) Fees Distribution or Similar (Non 12b-1) Fees Component1 Other Expenses Component2 Other Expenses Component3 Other Expenses Other Expenses (as a percentage of Assets): Acquired Fund Fees and Expenses Expenses (as a percentage of Assets) Fee Waiver or Reimbursement Net Expenses (as a percentage of Assets) Expense Example, By Year, Column [Text] Expense Example, with Redemption, 1 Year Expense Example, with Redemption, 3 Years Expense Example, with Redemption, 5 Years Expense Example, with Redemption, 10 Years Expense Example, No Redemption, By Year, Column [Text] Expense Example, No Redemption, 1 Year Expense Example, No Redemption, 3 Years Expense Example, No Redemption, 5 Years Expense Example, No Redemption, 10 Years Annual Return Caption [Text] Annual Return, Column [Text] Annual Return, Inception Date Annual Return 1990 Annual Return 1991 Annual Return 1992 Annual Return 1993 Annual Return 1994 Annual Return 1995 Annual Return 1996 Annual Return 1997 Annual Return 1998 Annual Return 1999 Annual Return 2000 Annual Return 2001 Annual Return 2002 Annual Return 2003 Annual Return 2004 Annual Return 2005 Annual Return 2006 Annual Return 2007 Annual Return 2008 Annual Return 2009 Annual Return 2010 Annual Return 2011 Annual Return 2012 Annual Return 2013 Annual Return 2014 Annual Return 2015 Annual Return 2016 Annual Return 2017 Annual Return 2018 Annual Return 2019 Annual Return 2020 Label 1 Year 5 Years 10 Years Since Inception Inception Date Variable Annuity Risk/Return Detail [Table] Trading Symbol Fee Waiver or Reimbursement over Assets, Date of Termination Portfolio Turnover, Rate Expense Breakpoint Discounts [Text] Expense Breakpoint, Minimum Investment Required [Amount] Expense Exchange Traded Fund Commissions [Text] Expenses Represent Both Master and Feeder [Text] Expenses Explanation of Nonrecurring Account Fee [Text] Other Expenses, New Fund, Based on Estimates [Text] Acquired Fund Fees and Expenses, Based on Estimates [Text] Expenses Other Expenses Had Extraordinary Expenses Been Included [Text] Expenses Restated to Reflect Current [Text] Expenses Not Correlated to Ratio Due to Acquired Fund Fees [Text] Strategy Portfolio Concentration [Text] Risk Lose Money [Text] Risk Nondiversified Status [Text] Risk Money Market Fund [Text] Risk Not Insured Depository Institution [Text] Risk Caption Risk Column [Text] Risk [Text] Performance Information Illustrates Variability of Returns [Text] Performance One Year or Less [Text] Performance Additional Market Index [Text] Performance Availability Phone [Text] Performance Availability Website Address [Text] Performance Past Does Not Indicate Future [Text] Bar Chart Does Not Reflect Sales Loads [Text] Bar Chart, Reason Selected Class Different from Immediately Preceding Period [Text] Bar Chart, Returns for Class Not Offered in Prospectus [Text] Year to Date Return, Label Bar Chart, Year to Date Return, Date Bar Chart, Year to Date Return Highest Quarterly Return, Label Highest Quarterly Return, Date Highest Quarterly Return Lowest Quarterly Return, Label Lowest Quarterly Return, Date Lowest Quarterly Return Performance Table Does Reflect Sales Loads Performance Table Market Index Changed Index No Deduction for Fees, Expenses, Taxes [Text] Performance Table Uses Highest Federal Rate Performance Table Not Relevant to Tax Deferred Performance Table One Class of after Tax Shown [Text] Performance Table Explanation after Tax Higher Performance Table Footnotes, Reason Performance Information for Class Different from Immediately Preceding Period [Text] Caption Column Money Market Seven Day Yield, Caption [Text] Money Market Seven Day Yield Column [Text] Money Market Seven Day Yield Phone Money Market Seven Day Yield Money Market Seven Day Tax Equivalent Yield Thirty Day Yield Caption Thirty Day Yield Column [Text] Thirty Day Yield Phone Thirty Day Yield Thirty Day Tax Equivalent Yield Custom Element. Custom Element. EX-101.PRE 8 ck0001064046-20130903_pre.xml TAXONOMY PRESENTATION XML 9 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Label Element Value
[RiskReturnAbstract] rr_RiskReturnAbstract  
Document Type dei_DocumentType 497
Document Period End Date dei_DocumentPeriodEndDate Sep. 03, 2013
Registrant Name dei_EntityRegistrantName RYDEX VARIABLE TRUST
Central Index Key dei_EntityCentralIndexKey 0001064046
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Sep. 03, 2013
Document Effective Date dei_DocumentEffectiveDate Sep. 03, 2013
Prospectus Date rr_ProspectusDate May 01, 2013
U.S. Long Short Momentum Fund
 
[RiskReturnAbstract] rr_RiskReturnAbstract  
Supplement [Text Block] ck0001064046_SupplementTextBlock

U.S. Long Short Momentum Fund

Supplement Dated August 30, 2013

to the Summary Prospectus, Statutory Prospectus

and Statement of Additional Information Dated May 1, 2013,

as supplemented from time to time

IMPORTANT NOTICE REGARDING CHANGE IN INVESTMENT POLICY

This supplement provides additional information beyond that contained in the currently effective Summary Prospectus, Statutory Prospectus (together, with the Summary Prospectus, the “Prospectuses”) and Statement of Additional Information the (“SAI”) for U.S. Long Short Momentum Fund (the “Fund”) and should be read in conjunction with the Prospectuses and SAI.

At a meeting held on August 26, 2013, the Board of Trustees (the “Board”) of Rydex Variable Trust (the “Trust”) approved a name change for the Fund. The Board also approved the adoption of a non-fundamental investment policy for the Fund. These changes, which are discussed in more detail below, will become effective on October 30, 2013, or such later date as deemed appropriate by the officers of the Trust (the “Effective Date”).

 

A. Fund Name Change

On the Effective Date, the new name of the Fund will be “Long Short Equity Fund.” Therefore, all references to the “U.S. Long Short Momentum Fund” in the Fund’s Prospectuses and SAI will be replaced with “Long Short Equity Fund.”

Strategy [Heading] rr_StrategyHeading
B. Change of Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

 

On the Effective Date, the current description of the Fund’s principal investment strategies under the heading “Principal Investment Strategies” in the “Fund Summary” section of the Fund’s Prospectuses will be replaced in its entirety as set forth below.

PRINCIPAL INVESTMENT STRATEGIES

The Fund will invest, under normal circumstances, at least 80% of its assets (net assets plus the amount of borrowings for investment purposes) in long and short equity or equity-like securities, including individual securities and derivatives (based on their notional value for purposes of this 80% calculation) giving exposure (i.e., economic characteristics similar to) to different sectors or industries to which the Fund is seeking exposure.

 

The Fund seeks to respond to the dynamically changing economy by moving its investments among different industries and styles (i.e., non-industry factors including, but not limited to, valuations, growth prospects and capitalization). The Advisor allocates investments to industries and styles according to several measures of momentum. Companies associated with industries and/or styles demonstrating positive momentum are favored while those experiencing negative momentum are disfavored. The Fund may hold both long and short positions. Equity positions are determined based on their associated industry and style momentum, risk characteristics, and liquidity. The Fund invests in equity securities, including small-, mid-, and large-capitalization securities, such as U.S. traded common stocks and American Depositary Receipts (“ADRs”), but also may invest in derivative instruments which primarily consist of equity index swaps, futures contracts, and options on securities, futures contracts, and stock indices. Equity index swaps and futures and options contracts enable the Fund to pursue its investment objective without investing directly in the securities of companies included in the different sectors or industries to which the Fund is seeking exposure. The Fund may invest in derivatives to hedge or gain leveraged exposure to a particular sector, industry or company depending on market conditions. Certain of the Fund’s derivative investments may be traded in the over-the-counter (“OTC”) market, which generally provides for less transparency than exchange-traded derivative instruments. The Fund also may enter into short sales of broad-based stock indices for hedging purposes in an effort to reduce portfolio risk or volatility. While the Fund anticipates investing in these instruments to seek to achieve its investment objective, the extent of the Fund’s investment in these instruments may vary from day to day depending on a number of different factors, including price, availability, and general market conditions. On a day-to-day basis, the Fund may hold U.S. government securities, short-term, high quality (rated AA or higher) fixed income securities, money market instruments, overnight and fixed-term repurchase agreements, cash and other cash equivalents with maturities of one year or less to collateralize its derivative positions or for defensive purposes to seek to avoid losses during adverse market conditions. The Fund also may enter into repurchase agreements with counterparties that are deemed to present acceptable credit risks. In an effort to ensure that the Fund is fully invested on a day-to-day basis, the Fund may conduct significant trading activity at or just prior to the close of the U.S. financial markets. The Fund is non-diversified and, therefore, may invest a greater percentage of its assets in a particular issuer in comparison to a diversified fund.

 

Supplement Closing [Text Block] ck0001064046_SupplementClosingTextBlock

Please Retain This Supplement for Future Reference

USLSMVT-SUP1-0813x0514

XML 10 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; ZIP 11 0000891804-13-001151-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0000891804-13-001151-xbrl.zip M4$L#!!0````(`#1?+$,*W6S>J@T``.,P```9`!P`8VLP,#`Q,#8T,#0V+3(P M,3,P.3`S+GAM;%54"0`#<^0Q4G/D,5)U>`L``00E#@``!#D!``#=6OMOVS@2 M_OV`^Q]X6>RB!?S,J\VC/;AIVC6V37*VV]O]:4%+M,V-)&I)*8GOK[]OAGK9 M<=*TUV:+*]!6%LF9X;'5[_2VA$H"$^ID_F+KP[@] M&)\,AUOBGR___C>!/\?_:+?%&ZVB\%"\-D%[F,S,D3B3L3H4;U6BK,R,/1(? M993CS;]^'289W@69OE)XZ]D#*5+UQZKZ?JLNIH5J;YU30F9NK+@8PO[_=[O7;._URNG9F=[O_[#ZQ_8QR M@;6;R5N[@7K0`$FUS"Y#==-V<]T)3$R+=GH'O9VM$B*DUD/'QANIF6"+'"ZL MFKW8:I)KEPL[-R[<*J9ERU2]V'(Z3B.HN5N2]-`)#%S@)A,Z?+$U<.*KL7Z;S6HUJ'F.T,5`,A1#F)HUTH#,OJP@U9OK`##0WDU/?1."DT6`^PUI/V^B>3\ M7M(S&3GEJ:XLVJ3^$ZL(*,D7:[])8!.#T]E,<:WUQ1Q6*)0LK#V\L,:E&,G= M`TGO(24?=V^M;)`<0_F9FB]_5I*JS7MHWAW,?XJRHTQ.(TBDHLBE,N"Z%44L M_4YE&):_7;:,$,.O=9@M#D6_U_OQ2$R-#95M!R:*9.JHO"R>CL0,PAR*YVDF M)@C"3IRI:S$RL4Q:_D5+C.$)LZV?YMG13S_T=XY8$ENR04&=Z4!&;1GI.0K> MS*1?0),TQ73#-?%W?VQ00\V[]^-#2((2+2II?98X6#NEAU<=>NQ.RY==HE+] MR,)[9/]K!#Y9R&2NA)E54EU8G00ZE9$8)E?*901[48!1*_>`_?&C73%]EU%( MKQCT:]C>@/HS:?$`1YL`\Z\B$UQ^L0.DI8)B:><::.NEF5>"C-.C'_K[/2]B M6DM-DYB;`S=W*OB(U&RVHJ+'[,X3D2V4J$((MV8M?A?DUI*:0^4" MJU.*83`)#;$H;_(D+(3=W3]R(JU,I&L3NLJJ;"FD`[T,'FRS!29&YKKSS0S4ZVSO@3]L)/K/.KM[)31*_[@8#<].AA># M=V)X]O%T/'E_>C81X\EH,#E].SP=KWG#-X30BGB30L=>EQX$K<+L!?5`6Z0L MW]NZ%HLC,Q&ALLK$\]Z/9"E2NG10M1-/$BB\>$ZCW+$596QR@`,SD0FLN0:0 M'%FEB3J4;:F!59^2%2,#J$F(Y1:PG5!_YB@C!!;XIW:D+SV@`9?0ZB345SK,(7T]@>EA7_J*PP%$I>X^%(;1J6F_A#RLN:(C"I:O%,K#43O> M,-)-D$=<'SQE(>9@!JZH_PU5F^()F4N3>G5'><3QKY90"#TFUH$(%I).:R"- M0_X"3'6L(PE7,T_Q%PT)?)L=F?S!6"=862&BDZ6M8,KU0@>+RD>$)JBK2\C! M(I6R?#N\;T+3(\3!WMT0IOVS:JQRJ<$+/))^PF4B8RH2HB7I/9E72F)K+,5T M*6+#)B0@UYAT!%R\K:W1,`&CD_;B5G?-EGX"P]=V[[2`K:1=+%Z*F?0VK0#; M$M,\8Y&`01$!"YDB\5L,148:-#&'YR".I44(]"($,M49BI__>#QV!*EC$%ZA MV[("6S8!XO'JIJ"6C?L0,@A0J)7:P32G4%_!-D4;Q6X0&Z*2QQUQ8N)4)DS# M.1-H24)?:XBX2KYK;,DA5%`HYQ?2-B"J.7^5-(6$]\SDE;'*YP>`'"5GMH`/ MDGL!"BJARE,D:-%O+PVU*U9[/3`L8KD4"Q.%B#T0;2VR>!$@4T><^B!3O2&* M+$2HX*>Q3K"[M8C1V'=EW$J?E6@M`2^_7'?Y%L^,-+B&X-L0V-N*;%:$NWLB MG8/K1.V6B'78+BC"451[%1:BN=CEB!O(C!\ZXXZ`*4)('Y@XIFD9RB,/"?18 M%CZ3B->*-4)9FL08J4"AKD#TK-/YX/6HD>Z?,IJ!/6=8]WX[M)LZ^`HZ++6Y MQZ./9"A%X.,ZX@;304<$MB+P:^H8G)LV)0]KW4XN)6QJ03)9V:+*FNM>UJ"?HIVGD2!V0"! M2Q004'!8^N4)6CQB=4=%N`*J*LBQ%+0/E(<%Q@N%&0C^Y%(-F$ M_X;B*Y]1+)E.*`9SG'(R\DB86B/#MH]#*P!F8<@X'%G+N@6;)F%F5`*7ED%X MS`.%0&>SF8FT\>$)JZ\,53411Z-_%Y&WE`PE-17[=2[Q=1;-<*ONS'E#7=+_ M,EAH=;7N!RQ'Y0N^;T$[IGR%N,G_:R))4=B4ILUH3BQ"_J(:2:]B2(LGY MN!=<5MVF2,C-P(IP%$`V>251ETU9*3YJ%##8A-1SX@&V[0KI:EH`U]M=@)$BS/?(@C`LR.)4$[E5N@%TJ61250;B('N8! MZ**=Y@'"A9XG>D;Y.^/PQTHA=R,0@16T^@<",:';]C<'PDZ,:(27A&%7@>]_D-:GLUB MW#H_JI:N'&K=/KHJS[=6+Z3R-(T8JR>P($S]%4^ZOE1AV[N^/2ST5IS.!NQK M:^\OW/3V^OO?@:POO)>C[L/!-HG2$1]!\@>(7&2RXEBY<5K< M\M\?HC5C:0X"'W)PL?K,V)'OU@F;XSW#_[PKFP_<7YZ/)X&PBSLXGPY-3,3I].QB]'IZ] M%2<_#\[>GK)0P[/FN?W%^;OAR6]_11*:^B-/W51QW9#*&C5Z#353M>0S4:HT M*0I+/M`JFN+BV@@EIZHNE>YUHL9;\20SUY MY6Z*MS`8KM_B?G.,#*C.CI7B_GRA(CZM7`_I=9FHB'2QO4W[Q3GQZA"G/>+ MV-3GOU)'_OZP55XZ"R)^0B`/S_SWW[\KQ]T//K'$@GH<`QJ M'#NR?Q<)L^%HC112W!-P*&E\N#"ISSPD(H0M.U57'J_4Q.Y/2K>^FU@[#5VK M7^M<<_M["$Y-G[&)!W1^S9:O_)Z2_L7/_P)02P,$%`````@`-%\L0^N/6,#B M`P``=Q4``!T`'`!C:S`P,#$P-C0P-#8M,C`Q,S`Y,#-?8V%L+GAM;%54"0`# M<^0Q4G/D,5)U>`L``00E#@``!#D!``#%F-MNVS@0AN\7V'?@JK>KD^VD:S5N MX39)82"'KITL>E9[O'?:\WJ&33O54QUCI"QW/[[I>W_7] M*[\7'!P&/7_+"116B2PG\%(O?ZW+F=O19.[W\[-).(<8VX29/0S!*KR,2IV?W^_WW>QJ8?K,,KT1M)BC MZQ8XI;*^2AKLUT@D"62&=\9#K+(C\.(T:*.%^6479K89LOV.W?6=5$96L?G9 M#@I.80Q39#ZOQZ-R5G$?06K+&7%"'KOFJJLCE,3`U)!%)TP1=6_")>*,5J\@ MDYL+F`ZL<.TPV.8$>'VO:^9^MXV&NE_HLRU)O*!Z9]S7XEX[$^>,L]EDSH4Z MYV;6)#Y-6'3-*+X!"M&VT-LKO08]BYR$T)GQ.U>(%?R8R-LQJ$0\V=D-/AJW MHS\-=L?V_#S2[YZK[`UP,L<"YIQ&($X!I+[9\2ZD#7)[0[YP-\AN(+&/JLG&%;RCL"MNDUT(Z.P:%"=U/4JMJM0:[ZPXWZ35!AYB&"D[U7I MC00R&B@3084*,C+HH13ZN;=U;%G1'XD/JL3&U%W9HDD2QUC[ MW/I"_"AFN]2/=D,I0Y MYI]JKLG-46Z/'JX$9G+!9>N598L.N83N-T+_C2XX>G1_PS74MLP%M>_5IO4K MKO3[JDZV7'X:F^02TW^"J4^XSCBUN&^XM1O[Y9*[L[G]6+G\CBZIIE1(I_AG3([\`4$L#!!0````(`#1?+$.O<0?' M_@@``)!N```=`!P`8VLP,#`Q,#8T,#0V+3(P,3,P.3`S7V1E9BYX;6Q55`D` M`W/D,5)SY#%2=7@+``$$)0X```0Y`0``U9W=QG=8S=I):3IL^>8`1YY,_O?>\24!=Z=#'V?P@RU+N\N/W679 M1>CT[O?EW#>>(`D\C$X[O:[=,2!RL.NAZ6GGR]@\&Y]?776,(`3(!3Y&\+2# M<.?WWW[^R:`_[WXQ3>.#!WUW9%Q@Q[Q"$_S6^`CF<&3\`1$D(,3DK?$W\"/Z MS%]?KU!(GW-"[PG29Y.MCHQ!]]@U3%/!YAA'Q(&Y0<=[M&V[9Y\6$ M;NH"A/2%OMT;6/;0ZO7N>D>CXY/144]Q`R$(HR#?@+VTTY]$_9WOH<<1^_4` M`FA0WZ%@M`R\T\XL#!WUST.LN`[>3Q2EV-L$^O(43@_W]B%SRRR9![3TCV(SZ7[KA[C=%T/,,DO,%LJ]'\0X3< M+\@'#]"'KBJTNJ5MT./(!=#I3O&314@"?^L%C[D#\M6,&DE?=RN8`HV!U::G!O MV*GQRR5(3&W/R[=T(-"/^!:Z<+ZH5H==H'E6][8#[P$YIWD8[IH7/#M[@_P, M25PQZ6GC#CSX<%=8F;T#E+,+&`+/WT]1*]HZ&.RN'I;9VU]:$!PLH$.[JYV2 M(;?R"?G/^S]I0.+!G0`3"P>!._=!L!-;;.`@:&O'Z`T$041V.@U4K:E"`^)D MW#QA#E*Y-`Z\FM!5;0W$\9;,.9P_0%(3MZAZ>%;@^_4(8X7#V[H1S:H9[OA8Z?` M[K,K!9CL$@;ZH!P'^M3]-9P"/SG>SI8>+T^H5$5H MKY'@GNUEGB\Z%8LQA6[7Z."$YR)M"7C>+4KLU;75GJ3L5XG;L("P?5Z]9\?9 MH1R;G5?KUI+:GH_W0N3\_I;.%U\B77_E?AQ?TA^\[@]OTH:QXO-U^;+X_=[] M7^Q>.;[EYBQ60]61X8JGQ_@J:CR&"LKS>F$L"S>P3,MP]YW;M=V^`A)6%D*J M0II+MH(+L1A6Y.03SB':("\WLH3O$@EI-3_9MM*HEO-HL4CV[H[NZ'MJZG%3 M1:]JW/_I\0L!L'N(=`6:B9_A9POO@I-*?Z M3+PY(,^R1%_;A[)TXYW.!7[Q,VF.-X:TFKKJ_J_*-SX"`F11#`:Z8I"^S2HK M,461IGJ:0RER[I%FYWX$A-TO\`3EZ2V4;KC+!<`B[Q]K;2%7]Y:<@\+=`]5& MLB+:5+]+:(6]X@LY/1[OY&DOU6A)"#C0HDB\UG9V+=^E)#L`1,)-];^45^3Z M-[I=M+H_N(`32`ATV2UT4\4H")4:'@PYMS`FVN;B#/,6H"G\-+E<.C/V*#[5 M*<5%IMCTV&QD%\9'V^1&UYFJA4CO"47/*[FD;LWE9(QLU)/+MB$0561@$;6-WD?`? M+YRM/B^A,'*HJ[.Y^/,MVY4UJ8%V1$UA'X1QTS;;BY'KECZA M;ONB5:,DZA[K.;2U"Z)8N7VAJE$,>?NF(U;UKL0(E=H1FYK79?JZKP&DF.<^ M#N@<4"OHL(PD]0.GN*A)L:`2FOT/?:1O\* MGOPH$(NWQO^*V:]M[A^'M!F$TV=9TI=DFNIK'J;0P?K>*T^I%&E-]7$84.E7;D,V(%%.:+]ID5]=-96TC,H-3[.'YHDWV M>MU^7=N\R^"4NG2>8),]7JLC'VB;6;/57LZ06UY+15;'-ZLU-1:*Y,+(Z/M@ MU(I.L?A+-9H:C\W0PE!H&UNSG%&,@UB\J4'80"R,@+;A-0-4J4DM*4!*U4;; M;)I1*5Q5YHLVW=TUKA@/M`VL&9QBGRD6;[KW:_:;`VT#:P:HU'.*A)ON_7J] MI[:YMD[#V;(N_LED"5^JE- M2FV)2JW^ZFC;H;GV@A<*,>`O(=&..-1@%\9B;;Y^9Y5VBV[X<2\K,7)7Q>6L M;I^ON7A<7'.1B5J)K#&.YFP-A'TM$LE%DRUGGS.>4##V[15NY$/V<*5C,*6# M`LJ7KL\17Q<1DP_T)0M5YA:,S,1!@05KU^>D;XJDJ;B1RAO?[PA`P8*MFOA# M(R=WN?J<>2AE_M7XB(V5NKY=X"Y?GT'W;&Y*W.&0_DZ.L,,F@G2]^IRR5Z)\ MHLDZA5Q:?8X5KER?8_?%92M1*:P/JY.5[^9X75XO8,N11@3RB9FF\3U='RLX M+'6ZP'PS%Y9L]**+K5ER4=R*V"_6B21?'=#<]?`.FWGG=OS/8/A&*?.JXGK[ M8N$JAYSD$^T:9S4;^^72C_?U$`PEQ6"_V/>`T6?^!U!+`P04````"``T7RQ# M.FJ/3;(<``!/Q0$`'0`<`&-K,#`P,3`V-#`T-BTR,#$S,#DP,U]L86(N>&UL M550)``-SY#%2<^0Q4G5X"P`!!"4.```$.0$``-6=;5/DN+7'WZ?J?@==\F93 M!4,;&&8@NTDQ,&2IRP"AF6Q24ZDITU:#@]LFMIN!;W\E^:%M64]N=G3.[(M= MMOT_ZK_Z_%J2C]WRSW]]7B3DB>9%G*6_;`1O)AN$IK,LBM.[7S8^3[>.IL=G M9QND*,,T"I,LI;]LI-G&7__R/W\@[)^?_W=KBYS&-(D.R4DVVSI+Y]F?R46X MH(?D;S2E>5AF^9_)/\)DR5[Y^S_/TI*]-BOC)\I>K=[UD.R^>1N1K2V'-J?9 M,I_1ML%9_#"93(+)_MYD;__-\YR]U4E8L@,[DV!W>W*P'00WP=[AV_W#O<#Q M#)_4_5?C/29P^'/)_W88%)>RS2XO#YR+^9>.^+!\/M[>_??OV MYMONFRR_V]YASK;_^>E\.KNGBW`K3OEG.*,;311O1147'!P<;(NCC72@?+[- MD^8]=K<;.VW+[&ALT'><%/%A(>R=9[.P%`A8WX9H%?S_MAK9%G]I*]C9V@W> M/!?11O/ABT\PSQ)Z3>=$=/.P?'ED6!7QXC'AIL1K]SF=J\TD>;[-X[=3>L>2 M'?$W.N!O%.SS-_IC_?)Y>$N3#<*5GZ_/M/TZZ+55!VW[-GM%\SB+/J;KN9:C M@>RS[TY>OJ(#W7CO7;C)RC!9RWPWTKOM"[K>)[Z*\_])LV&?KO=)=R+[MA/^ MXCG[JV>F,\L?:P5V[., M30"/Y592?9I5^#S/%E8+]0>1681?D]NVW>I38V^MZ4!/EM-"3/*CDM;MA-;\. M('47A/V"SM[<94_;$8U9-X(=_@>'9F=K$M03YA_92U_/&?C)Q[2,RY>CY[B0 MNJA4^$#$8(V#H3@,CH/>DPR!4)%*1KYPX;]?FWK'L8$M1I<KTSS MA5B8'=T6)5\YFRAWB_<^AHSIUF!<<0D&AVM=QS)Z32AAL0V!G6B($:BQ=,.: M57RE^H=]C3TJ4\W`TST&#H;&D#;O7`.9Y?9,@I]&&_HBZ7SG76E3!J`G0D6" MRID6B4K,1H-(U#8@Z*A&HFMZ%_/1*RUYJ431/;7,%QLFDPT:*@T*,@S&9#!6 M(E&R@N/AF-&9A\D9.\-Z_C_ZHNW50.>7"(W-/A*2"!$3:FEN-82+0'-]0HM9'C_RY:FI M,SV9]\PK3`X`Z&AP<3`TIL>AHX5<1A[G5)RP6%:1?9GO1:3*I+R&[&I04&$P MIEU!-EJP]6/CY.-\3L6U/PL7DLXW&$J;,AD]$2HT5,ZT;+3B[P9'GE=LY+F, M1IY_O ML4&VQ5%Y:TN?[D'P1PE>7L5^1\_,XI6?^%:(L20+$SOPYP>)V%1**YI&97>J5!;':#1E^'B0^E-AD2(B%#YO>0U M73X^)E24Q^ES^8$U]6"\CJN2^[\HKC<]O"X^U(+SX6AP`$FK9!,*TQ(A]C^2 M7-[^IUJS_DI#?I_BD/ZAPM/(H;-6CQCR87`2])[DY+QE9AP-:GE%2C@B(@JG&%)ML%QMY*310X\V1VFZ#!/^4X5! M5VPCSXA03T"-[DQ-F',)('8B#K6OFE5[./S[/[OE?8C5HY\LD0Q*#,*(TK"2EI\3'B\J>C9K;%\*#T-`SHE1MB`#AR+5PK97C M(VIT&;O!"DDY6_7]T-:;C&+`D4E==3(H\7&DLF5(VA^+AT\FLE\R+KSEN$C=%@A,Y8@+7A^%FA"N=;255LA@?4QJ'-J+J,%B>KK*\G&=) MG-TL\S1[HOJ2KE[IZ[=M%JO-;]LT,@S<6+P-?@#9R$FC!ZS@#KP;1AV3%HH6 MW6BC%Z(DQC;*J)@!O=>X9*>I].Y%.ZX,!+YN%E4;:VX/[1_%@(+:TN`6T%H% M.%(T%EP*52:M9Q"L12B]$!,>S@6FEA0DI:3KN'C0CA*]@Y[`4!BJ2>@JO:"ZV MF6?I$?5>[1+")<83+N[V:WCL`1A0B`D2YQ/G%2A(SIZ;'MC/H/5*S\Q8SJ1U,DR\.)Y1KVA! M<5KM?"X-?0+M=M:,^%1YW/GQ\(RXUH,3,O*D6!L#Q,V8TV--`$::UCI1KL!J M0\'1&D$4/$BN_*#&9@PM4,O@3V'^0$OQM+`1P+A%>6)G3!=JC%Q",!`UPJ<, M5Q5:/P<.`VER!UQ.O%QB@$8HZXF8/0`#8$PF%+=<[%="2%OZ97V,LZ2Y2)5/$S;+`7:-WI@ M5K-U=*O#P(?-G'T#:1$!]3O<3^%SO%@NCI>+92+*"=,P8;T0V^I=/M'\YFM\7%48%E*[G7`EE,?\$&1VC+Z62##^.GTZ M6SQF!8TNTROV`=Z'!2W<1]"QS?CE<[U.]GD=UP8B?M:QMMMU=:XW@%NR7ZS$=ZM/L$HF(X1%V=>2V>R[_*"L#79^-ZP)S$`XZ]6L" M4\0/0*/#>L"-0@RK@%@U3=JVQ2\T>JTC^):L-GTZI>(KOWI! M47DSB7V5+.V&F^*E7HF!2+N]04%SM4$7"U%.]$>+;)F68BLONJ`1,$^63L,P M8Z($'1=.)`!LI=4^L<$V9!BDWC;0LIAM]\[2Z#!`83,WW#%K]50,G`-%IT?& M[D)PHB<#&0L.V8=:=Q_-9IRP&MBCHJ!EH5V6J<5^5\LFP_V%L$J)`0R[/=WR MM0[1CQ:B$;!SN%6/'#H-QXV-%I2,N),!?.E<=.BL4&"C0V[)< M'-\D0HS@J;B&^RB,8K!GX^KNI3`H,:!BM^?RD%S@.RI2-H_Q6\+X[1WFY8A. MZ6U.,5MMIQ:U#`,P%F_#B::15S??8%I^=(MU1VDTI?E3/*/!SFU@`\D]TA-8 M8[M2@^8:A@&\D5YE$+OAHE1;-T!^8DUL!7\2>((B>)E/XT6CDU@ACEI.Z"?(3:X1`\GB<+1ZSE`W-@5@(-C.\"4.'$$_T M.9NOH;/J,;#F:E)&;!57K>G;U1H<4SOCF=*'^&;*9EYF2J='Q93%I):I'31, M[8YG2A_BFRF;>9DIG1X54Q:36J9VH9ER)@F:'S=J$+,RCI`^%J8SR$/OS!S- M_KN,P`&IIQ=RHSQ2[15)*\+]&*]HW5!2Y<11R/S!)#19,V,4H,!$Y,QF0RF=5H$ M`3]YL7YFKN'ZG4T/\N1%G6WEDQ=E,0:4G!Q:GQ.[>EHQZ"6]?F>XHTE@ZW*C M`L&G;U$)327!ATK/EQ60;W%YWWN^=2"`P4#(KE-/=R$)V;43LHN4D-VU"=D5 MA("=+74[\=:IJV\A$7EK1^0M4D3>KHW(6S2(!!.7KG(5&"(KBUI$@@E.1%I? M:\PS$Q2,7&0K4V.7NN98$)YCRA7RMU^NJV:51'@ M)#JLIH=RW-2-6V5+K*%88P]Z8UUOJR)PL&5>AP_E/P!;SNMSB2T`RWEE+\&%8UTO=\>^QE=%H(#+LO8?RO'#Y7Y.(,^*4&<$ M1VFZ#)-JZ]'C4//+:*7(UP5]O<'F\OU0@8$4O:W!I7FA)/7^K[46:A'>LVTX M'=3I(+#0G>:I1>C@L)V^]?B`/DGK.C\3&6*PGH2E!1%)"D")TJP"E)X.&RLJ M%37.H0(F[W(-4SZ,,.^Z M&N4@[V^A\[YO[\[T/G_9VU+^^@\O[.G/=W"//^SC7O M[Z#S_M[:E_=0>7]OSOM[A'E_[YKW]]!Y/[#VY0`J[P?FO!\@S/N!:]X/0//. MNF6IUU4*@+QWK2GRS@]CRWO'DSGO7`B==TN]KE+`Y-U4K^.'$>;=K5['A=!Y MM]3K*@5,WDWU.GX88=[=ZG5<")UW2[VN4L#DW52OXX<1YMVM7L>%T'FWU.LJ M!4S>3?4Z?AAAWMWJ=5P(G7=+O:Y2P.3=5*_CAQ'FW:U>QX70>;?4ZRH%3-Y- M]3I^&&'>W>IU7`B==TN]KE+`Y-U4K^.'$>;=K5['A=!YM]3K*@5,WDWU.GX8 M8=[=ZG5<")UW2[VN4L#DW52OXX<1YMVM7L>%P'E7_1Q@J`#)^^!V?_DPOKQK M;^>7\QY`U^L":[TN@*K7!>9Z78"P7A>XUNL"Z'I=8*W7!5#UNL!8ZW4!PGI=X%JO"Z#K=8&U7A=`U>L"<[TN0%BO"USK M=0%TO2ZPUNL"J'I=8*[7!0CK=8%KO2Z`KM<%UGI=`%6O"\SUN@!AO2YPK=<% MT/6ZP%JO"Z#J=8&Y7A<@K-<%KO6Z`+I>%UCK=0%4O2XPU^L"A/6ZP+5>%T#7 MZP)KO2Z`JM<%YGI=@+!>%[C6ZP+H>MV.M5ZW`U6OVS'7ZW80UNMV7.MU.P#U MNB>:AW>T:_AMTA<'%JL-#QH9"B[,WF0^Q#$,2.@VNC-(X:!0;FVGU2'% MPKB9'=!F=3J;JB*`7@H,QJ`LH--A!D-7*(#:#$SC4WG93R^%)6-X(5"G0TR& M]M(@W$Y>0Z/3F*6GW?_%J6]R"!PJ:O-Z9/IZI.@H3K)& MP'%DW/?)(D=*D!M?\P)-^F]S2FN-FN1Q2S&)P;5XY&$4IW?3E\5M)O=0<=P')UI;G(O!07`.=([DO-<: M4HD0/A"23VZ7\QN:+^(T5*]RUVH$S2,CM1UT?H;DH`5P^EYE>\13)DG&7ZV: MVQ3K(/YLP4Z3WH&^RO)RGB5Q=L-&4N[N6KF>UL@\06DT66.GU&``RV1,1J?5 MDD:\2:XA-DFMMP?_D-/PX3&+T_(D+F;9,C4\%%FI];NON\%N?T=WA1`#*E9W MNEW<5Q&D#0%^:,[*TJ;:#NDGJELBJ*=*T1;Y4K0$^\FEVS_Q3OMRL'F]_G"T6<5&P.5H_ M!%JB?#_DPJ$+\H,N#"&(:'3QJ7_@115+JF#"HTDG''C8+*[I(_O`V)?A0U;> M?PJ+DBT_TXBM*:-!]BT\->`5I8PD/)E4T"1E^53PT M>>R_S+@X#;F<7V1I3F?+/&BC!?L'$DQ+;M%>:)R M3!=J'%U",'`XPJ<,H`@E3>PF8=%B2MXDH@'"<&R;`'O"S*Q:E7)?[#M0L!&_ M,6QG<%2PKXN2XSO47)]TC\0`YGB[@QLUZQ:J=2)O0\S8*V#Q8-IXZGT;?PU9 MC\L\S/(H3L/\I>T^I?RJ;;)D:V#]Q+)&4Y[G^+4[*\WXH]O!@/=KS6M7`_U1 MF;`F2:_-U2'>*FF:A2;_FA8E^P9&-]DUG2=T5AZS%0PUE)@,$=[/F#>=)51PI^2,I122I0Z$!N\C*XXPY2>I^\?7RR9+>9/)$H_]41C3A M&<'1G9.8=(['!.E8TUIJ64-DU9)@E[=%6&/\?Q3K"""6IVP<+^G=2WNMZ9C3 MD?)7E5>K;7I/E+K9KI$TBS'PY^1PB.,,0(+46XV->-.2>I8L@HFG6A(Y.K'V*M[W1[TB)!DJ(-*?00+$GT[RM37 M$IC$MH^KU]CO'/>9WH&M;H;;@VB2+#M2YUFH(+_&:O=>,ZO()Y8LFG('E+0K MFL^S?!&*WQF*O_A(<98DRT*<7HM(#'P]A7%2#Y57]UFJ^F6/40W`EF2+?G,@YDARC][UBX,T=.&("//YM,$'H\E/+@N M'5;AI(J'(N]#F!_?AWG3J?H.E&F8T.(\"R/%D&>/\$2G:57>58\LFZI;D48&>[] MBS"B4P/F'6)QX>UNV$AR5?5CBXF:8C[(UTV1."6KQJ"8Y<6FFXSO\F'<7EDC M\\2@T63-FE*#@2F3,9D=4?HKLVK7E4J^240`V&`FVU?O96A6>QZJ3):ED4DE MQ0"-@S_#N*/$Z/?8T?!WH\B]Q^#T.)*#F9JUB/'.RJ_QW3TMRK\OF2.:)R_& M"S(Z=01I0Y#,5NJ>F.?RQFI>&(*T>`U&N)IW!`IW1E+T8V6D^". MQ8Z)BHN.+C%`R.GM:W@;!F"$3>O23EKOWL0ZV#MEXMTOLA,:+6?\GLG3+.>; M(33;*-R$SZK-,]RB/)$VI@LU:RXA&&@;X7/X>!^.U45&VF!Q:8Z';W:VRQ)- M(+BI3'PE/O/MDJJ3V%.^`V>8:':_=XP#&NK,W=`,=^H@#!".>XRS^HC@1"T=44#H2X,(X86KW80 MJYO0JA;X]2#6!FD:`6?Q,J7B+HK+^=&<8?7^ M,GHA!K*M[F0>H3:>41DU[$-CD0-"HMNEQJC%BHIM#YM*X!V6SBYM4_I$TY/P MY5\Q32+M@&(-\`2,H_$:&8L:`S1N%F5L>EOGB3C"`HF(W&SVOH*:J+1=,@Q' M+C'0B.D&)GL`:M!L0Y2)->#MMW1]TNPL89$#\Z7:6\*HQ4R5:7<)(U`B$`U( M[AT&Q\>1',S0K,$+!E)NPN>/_UW&3V'"SA_=L5&%P3&D[X0>J&$,4KJT1AU1 MXW6_50-`Y-WR#*:K$E2:C"08S(FDU)INRLAH/-^R;1AC:U7 MPL"A6T_K9`@1L:V=AY2`KI?[[C6K9*4(A!#5BEBAP,>%:?4[0`)FQ=LW;.L0 M$`#&W.-+NV/&X7+MLE(UBGU38%V5&I2H^'!>@79@&;OJ_`ZYF#U,)I-@LK\W MV=O_.ET^/B9TP;P<)UD1IW=\$OO`$.WM/^X8\C7*9MZRP]YKR4VH'B@VSN^@ M?K\LRFQ!/E9!;W"D9TQ>?IB$O#X3W9?.V5_LY>8E]J_;L*#LE?\'4$L#!!0` M```(`#1?+$.0S9L!@PH``%.A```=`!P`8VLP,#`Q,#8T,#0V+3(P,3,P.3`S M7W!R92YX;6Q55`D``W/D,5)SY#%2=7@+``$$)0X```0Y`0``[5U;<^+*$7Y/ M5?Z#PGD-%X'M73CKG&)].7'%WCTQWN3D:4M(`U8L--1(>*&V\M\S(T`(:6;4 MXJ*6]^`'&T-/J_O[6JWN&3'Z\,M\XAFOA`4N]2]K9J-5,XAO4\?UQY>U+X-Z M?W!U=U#_WSX2[UNW+K$'[BOA[RZ/VC,ZC7/'J-N<7O3,3>(#0 M"F=!?(#6O+7Z60[_X+G^2T_\&EH!,3AV?M";!^YE[3D,I[UF\]NW;XUOG09E MXV:;6];\_>%^8#^3B55W?8&A36KK44*+;)S9[7:;T:=KT8SD?,B\]3$ZS;4Y ML6;^J:N13U@2N+T@,N^>VE88A4#N80REA/BOOA:KB[?J9KO>,1OSP*FMP8\0 M9-0CCV1DB+]?'N_BH[*%0^;U8.PV;#IIBD^;G*'9A/AAWW=N_-`-%X(N-HFL MY1Y$ZIX9&5W6[$0PU$4$M+JMCCCV3Q`=X6+*8SMP)U./(]/^\\7WK"'QB`,U&JYI%],CY@)B-\;TM[M8^E&G4',_GS M5&1!GDYOYE/B!_L;K55X,+-7RF_FUE+5[O;*-1W)T$_TD3AD,LUFAWV,EFD] MF`,?+7;%XS#<-RYD>@YFY&^$11F37S:>K*%']C56I^\(Z>R:A);K'2:I;>LZ MFK'[(JS3=[BP8#28$IN73'L%0ZSEL^\M#G_1(,PE>QFXU'`4XZX\*]C+MDC! M44Q+G*,/Q`IF;*_+0%8;U.@I(P$O?J)J[9Z_L36$S$/B.YM:2%B^;SG)WQ9* M>&'6,>K&>D3R)1]M+(<;R?$KL]>&>]3>LM43139ET`(P^J`J6CNXH0L%!SB+F.!OT@'`W\K]NB)JY58SD6V)=*&)<.BSVR# M,E[&<=;6NBQF;P5#ME]9232GO`KTP[K]['IQ'(T8G>P*X0HNJG`DB28W`0%R M?BZZE'O@B&Y9CWU*%$B"6646I-YCT+$T_I&,76&S'XHI"#D;TJDJ'S M'8^+*^X(L[P[?D69_X,L=&1D1(%L=*K+AL)[##KZW`E'.'+K66,Y#2D1(/QG M581?ZBTJ[-229`# M<$(.'61%:,@03I@==XB'1#GO8GI/QI:W3(']N2L#F4MEA*J.L,SFQ&Q(R8WL M-9U8KJ)TWY9`QE4&FZ(]75N\F>C;"53@A.L@NNVC\Z[=?2"3(6$2+)/R67&T MJ;)\2/6&H]=UT;)\M*ZAR`_)DS$M7/4\H;,],6%7#N8;`Y0)@[&L4(4PEL?* M!NRL\8DYB*/FC]ETZI%HUI]7UA^YJI>\%"(;@;7JH2@8-'E$[6_IJ>3S\+_+ M1O7OQ!)W,DK#.BN$EK%!8,LLQL;W-^9.++;017C"[*PTV@I&4<15CN)!/R`V M]1TX^#)YM"6+HO"KG2V=@-6=8;K,DA9!6YH`PBQW"0O93Q83]S>^$GU@:Z31 M5B&*X:UVM'3H4S?"7EFJE9]5024115MN`(*N=Q$;\:A5T`=\S@BT!8;=\)<[ M7/[E-'TSM2[TU<)H"PS0"VF.FZ7CWO?]F>6):?Z,:8!3H70SMY_%J^B*!B)%/Q!*#%I#7,1_+')67]H!=&AI22C\:`VQUD-D MO#\N_D,L!D<])0_%'KM+UGF+S$"QSEDS",H%=@>=ZW.IDCFPV$2+9A"4&.PN/]=O9$*N/!KP M(K\('=DA4#*P._L'_\Z M<2CX:*U]OJ_EKP^&O-@CXX4NW#,R4*#1^G:%5VCH`GL,G3@4<[R%[UQ?2X=? M?"-$%]A;GT,!1NNR)=Z@(`H,9I4H%&>TUECO(PKDP%I=)0J%'*W%U?N(`CFH M&I<+@F]WQ(2[,I7W>C^YON^D=VO3Y6[(,"@1:)TIW/?RZ_*-/<"$GS,"2@9: M9PKR&.WT`)*@$XM<*5Y&1/<5+ M2>4P*!=H32W<=W1:BK%1G(0SM%8WU]/2L7^PV`L)H\T/B]$`&PAE!*WG+>(_ M^HD!K)(@PZ#$5*'_S?$=G190]90_"$H)WFHMT.]]"2F\UP2``/FF#;N3@-0L M0]U0$G'<#?.D.^I+GHP3;XUWOKTUGA!M+F6-P6PB-A_X,3?!J^1V*F:C91X^ MJO,WPBN^HJYX/E&/*7.F7E$ MO-R,,<2@,Q;"_WX9])6ZLY(WO3\SR@RD-2MMK=MM@+>(JT?ISQM*/Q6T@9@HZI.J$%P.>9,/R*H`U/)YFNA1WVY@ M>U0$F1QP,=+X?K-#N@_P()LNU(K@'_X%5GS_*)2A.RZ)'N:JMR5A],, MY6F&\C1#>9JAA&6+T\1D=28F?XQYR>/>CGV:F*QN(CG-1U9X/A)]]NLT'9F8 MY>K@\W&:C03,1I[A3D8."',/>+=I.3WQ6^Q\WD[C@Q"%4;E5SISJD1JOMUA' MGQ_W*\!'*:1Q;_9<9?ZE.2M3Q*^A%1#^SO\!4$L#!!0````(`#1?+$,V6\LO M&P0``(,1```9`!P`8VLP,#`Q,#8T,#0V+3(P,3,P.3`S+GAS9%54"0`#<^0Q M4G/D,5)U>`L``00E#@``!#D!``#=5UN/VD84?FZE_H>I7RO?\$*"`XG(DHV( MV$V[L-6V+]$P'F"T]HQW/%Z,JO[WGO$%S&4I;((:E2?[S'>^<\Z!3\0;=X(CZZ"/E5&(EY!OT.PY3D/QV/^`*9$2Q)PK2PHR//*L9(-,\@G,D M4DGHBI"P!\=Q7*=UX5RTK&P*IOI8P4'#<3W;:=NN.W8O_&;+OW"/-*"P2I.5 M`2=SRM]QZMK8\G.*$K9CAE M!_",)PISLH$/U$JA#F[:Q>$&E.V%M@HHJZ`!W<(EE%@S\63#`>#=ANFXIN=6 M<"GWHZ7<`^:"\S3:'V*@I*V6,;4!9`**2D8J/5*KQI6V7`8T,Y,9LXB(M#'/ M:3L>M%5((\K5E9!1GTYQ&L(5/:8X9%-&`P,I+&=4Z:I*8DSHO]%5M8DY%U#" MT%:E1,OBF$&-@N"'CDZF+T5(QQ`#T@]WMX-GR/6I#16>:C][//C`%5-+7>XR MRDT8B`5=XR!"&P477#'0SR!"@J*%!R!>SX1%YN)T%Q(DZ&<#55T2/.AOU:,?_]_4E)- MN%LZ1?ED]'6'=XV$17&HYU@NFTLZ[1KU'C>K]OL"(5HP`RJH-G%@0N:YW;Z5 MTH&*`DNRP[(SP8%$Q%0J1I/ZF"Y"8$JK_UHS@[2=Q$#VMPP=RN'4T/,*.F/, M0\U_EF"A*D\-=JN0SQ3RY=K*60*'UCHU\,UN/%/<_961>MCEA\]>?_G*]^VO M8PCK=/A MMK:<*=?#_/->;\DOH_SOB/>JT;ZFT81*(W>X:^S*\211^L]6UU`RA8KA+(3) MJ[NF>,\7>1\:C(E@G,^#()7E8E?,AV(1]@,18<8'BD8:!L&FP,Q4JJ$?I4CC MKE%P,8`<$\.AE;%7>EW%=1SVZV,M$,`"?W6_8:BC-(Z+LS'-U/M0D(=5QO8> M?7^.7X8B`>X#_N]!?"]A7#KYB]=^O=DNN_+_LETZ=C%`X/$?4$L!`AX#%``` M``@`-%\L0PK=;-ZJ#0``XS```!D`&````````0```*2!`````&-K,#`P,3`V M-#`T-BTR,#$S,#DP,RYX;6Q55`4``W/D,5)U>`L``00E#@``!#D!``!02P$" M'@,4````"``T7RQ#ZX]8P.(#``!W%0``'0`8```````!````I(']#0``8VLP M,#`Q,#8T,#0V+3(P,3,P.3`S7V-A;"YX;6Q55`4``W/D,5)U>`L``00E#@`` M!#D!``!02P$"'@,4````"``T7RQ#KW$'Q_X(``"0;@``'0`8```````!```` MI($V$@``8VLP,#`Q,#8T,#0V+3(P,3,P.3`S7V1E9BYX;6Q55`4``W/D,5)U M>`L``00E#@``!#D!``!02P$"'@,4````"``T7RQ#.FJ/3;(<``!/Q0$`'0`8 M```````!````I(&+&P``8VLP,#`Q,#8T,#0V+3(P,3,P.3`S7VQA8BYX;6Q5 M5`4``W/D,5)U>`L``00E#@``!#D!``!02P$"'@,4````"``T7RQ#D,V;`8,* M``!3H0``'0`8```````!````I(&4.```8VLP,#`Q,#8T,#0V+3(P,3,P.3`S M7W!R92YX;6Q55`4``W/D,5)U>`L``00E#@``!#D!``!02P$"'@,4````"``T M7RQ#-EO++QL$``"#$0``&0`8```````!````I(%N0P``8VLP,#`Q,#8T,#0V M+3(P,3,P.3`S+GAS9%54!0`#<^0Q4G5X"P`!!"4.```$.0$``%!+!08````` ..!@`&`$H"``#<1P`````` ` end XML 12 R2.xml IDEA: U.S. Long Short Momentum Fund 2.4.0.80004 - Document - U.S. Long Short Momentum Fund {Unlabeled}falsefalsefalse1false falsefalseAsOf2013-09-03_custom_S000003729Memberhttp://www.sec.gov/CIK0001064046duration2013-09-03T00:00:002013-09-03T00:00:001false 0truefalsetruefalsefalsefalsefalsefalsefalse1falsefalsefalse00U.S. Long Short Momentum Fundfalsefalsefalse1false truefalseAsOf2013-09-03_custom_S000003729Memberhttp://www.sec.gov/CIK0001064046duration2013-09-03T00:00:002013-09-03T00:00:00falsefalseU.S. Long Short Momentum Funddei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldick0001064046_S000003729Memberdei_LegalEntityAxisexplicitMembernanafalse02false 4ck0001064046_SupplementTextBlockck0001064046_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><b>U.S. Long Short Momentum Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><b>Supplement Dated August&#160;30, 2013</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>to the Summary Prospectus, Statutory Prospectus</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>and Statement of Additional Information Dated May&#160;1, 2013,</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>as supplemented from time to time</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><b>IMPORTANT NOTICE REGARDING CHANGE IN INVESTMENT POLICY</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"><b>This supplement provides additional information beyond that contained in the currently effective Summary Prospectus, Statutory Prospectus (together, with the Summary Prospectus, the &#147;Prospectuses&#148;) and Statement of Additional Information the (&#147;SAI&#148;) for U.S. Long Short Momentum Fund (the &#147;Fund&#148;) and should be read in conjunction with the Prospectuses and SAI.</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">At a meeting held on August&#160;26, 2013, the Board of Trustees (the &#147;Board&#148;) of Rydex Variable Trust (the &#147;Trust&#148;) approved a name change for the Fund. The Board also approved the adoption of a non-fundamental investment policy for the Fund. These changes, which are discussed in more detail below, will become effective on October&#160;30, 2013, or such later date as deemed appropriate by the officers of the Trust (the &#147;Effective Date&#148;).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4%; font: 8pt/115% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>A.</b></font></td> <td style="font: 8pt/115% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fund Name Change</b></font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0">On the Effective Date, the new name of the Fund will be &#147;Long Short Equity Fund.&#148; Therefore, all references to the &#147;U.S. Long Short Momentum Fund&#148; in the Fund&#146;s Prospectuses and SAI will be replaced with &#147;Long Short Equity Fund.&#148;</p>falsefalsefalsexbrli:stringItemTypestringCustom Element.No definition available.false03false 4rr_StrategyHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> <td style="width: 4%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>B.</b></font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Change of Principal Investment Strategies</b></font></td></tr> </table>falsefalsefalsexbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false04false 4rr_StrategyNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="margin: 0pt">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0">On the Effective Date, the current description of the Fund&#146;s principal investment strategies under the heading &#147;Principal Investment Strategies&#148; in the &#147;Fund Summary&#148; section of the Fund&#146;s Prospectuses will be replaced in its entirety as set forth below.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0.25in 0 0 17.45pt"><b>PRINCIPAL INVESTMENT STRATEGIES</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0 17.45pt">The Fund will invest, under normal circumstances, at least 80% of its assets (net assets plus the amount of borrowings for investment purposes) in long and short equity or equity-like securities, including individual securities and derivatives (based on their notional value for purposes of this 80% calculation) giving exposure (<i>i.e.</i>, economic characteristics similar to) to different sectors or industries to which the Fund is seeking exposure.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0 17.45pt">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 17.45pt">The Fund seeks to respond to the dynamically changing economy by moving its investments among different industries and styles&#160;<i>(i.e</i>., non-industry factors including, but not limited to, valuations, growth prospects and capitalization). The Advisor allocates investments to industries and styles according to several measures of momentum. Companies associated with industries and/or styles demonstrating positive momentum are favored while those experiencing negative momentum are disfavored. The Fund may hold both long and short positions. Equity positions are determined based on their associated industry and style momentum, risk characteristics, and liquidity. The Fund invests in equity securities, including small-, mid-, and large-capitalization securities, such as U.S. traded common stocks and American Depositary Receipts (&#147;ADRs&#148;), but also may invest in derivative instruments which primarily consist of equity index swaps, futures contracts, and options on securities, futures contracts, and stock indices. Equity index swaps and futures and options contracts enable the Fund to pursue its investment objective without investing directly in the securities of companies included in the different sectors or industries to which the Fund is seeking exposure. The Fund may invest in derivatives to hedge or gain leveraged exposure to a particular sector, industry or company depending on market conditions. Certain of the Fund&#146;s derivative investments may be traded in the over-the-counter (&#147;OTC&#148;) market, which generally provides for less transparency than exchange-traded derivative instruments. The Fund also may enter into short sales of broad-based stock indices for hedging purposes in an effort to reduce portfolio risk or volatility. While the Fund anticipates investing in these instruments to seek to achieve its investment objective, the extent of the Fund&#146;s investment in these instruments may vary from day to day depending on a number of different factors, including price, availability, and general market conditions. On a day-to-day basis, the Fund may hold U.S. government securities, short-term, high quality (rated AA or higher) fixed income securities, money market instruments, overnight and fixed-term repurchase agreements, cash and other cash equivalents with maturities of one year or less to collateralize its derivative positions or for defensive purposes to seek to avoid losses during adverse market conditions. The Fund also may enter into repurchase agreements with counterparties that are deemed to present acceptable credit risks. In an effort to ensure that the Fund is fully invested on a day-to-day basis, the Fund may conduct significant trading activity at or just prior to the close of the U.S. financial markets. The Fund is non-diversified and, therefore, may invest a greater percentage of its assets in a particular issuer in comparison to a diversified fund.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&#160;</p> <p style="margin: 0pt"></p>falsefalsefalsenonnum:textBlockItemTypenaPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false05false 4ck0001064046_SupplementClosingTextBlockck0001064046_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 24pt 0 0; text-align: center"><b>Please Retain This Supplement for Future Reference</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">USLSMVT-SUP1-0813x0514</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"></p>falsefalsefalsexbrli:stringItemTypestringCustom Element.No definition available.false0falseU.S. Long Short Momentum Fund (U.S. Long Short Momentum Fund)UnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://rydex-sgi.com/role/U.S.LongShortMomentumFundUnlabeled15 EXCEL 13 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\Q,C(X.3(R9E\U,F%A7S1F.#%?.&%F-5]B,3DQ M-S$V,6(Y,S(B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O6QE#I!8W1I=F53:&5E=#X-"B`@/'@Z4')O=&5C=%-T#I0#I0#I0&UL/CPA6V5N9&EF72TM/@T*/"]H96%D/@T*("`\8F]D>3X-"B`@ M(#QP/E1H:7,@<&%G92!S:&]U;&0@8F4@;W!E;F5D('=I=&@@36EC'1087)T7S$R,C@Y,C)F7S4R86%?-&8X,5\X868U7V(Q M.3$W,38Q8CDS,@T*0V]N=&5N="U,;V-A=&EO;CH@9FEL93HO+R]#.B\Q,C(X M.3(R9E\U,F%A7S1F.#%?.&%F-5]B,3DQ-S$V,6(Y,S(O5V]R:W-H965T'0O:F%V87-C3X-"B`@("`\=&%B;&4@8VQA M2!);F9O'0^/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^4V5P(#,L M#0H)"3(P,3,\'0^4EE$15@@5D%224%"3$4@5%)54U0\'0^9F%L'0^4V5P(#,L#0H)"3(P,3,\'0^36%Y(#$L#0H)"3(P,3,\'0O:F%V87-C3X-"B`@ M("`\=&%B;&4@8VQA6QE/3-$)V9O;G0Z M(#AP="]N;W)M86P@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)V9O;G0Z(#AP="]N;W)M86P@5&EM97,@3F5W(%)O;6%N+"!4:6UE M2!0'0M M86QI9VXZ(&-E;G1E6QE/3-$)V9O;G0Z(#AP="]N;W)M86P@5&EM97,@3F5W(%)O M;6%N+"!4:6UE2!T:&4@;V9F:6-E6QE/3-$)V9O;G0Z(#AP="]N;W)M86P@5&EM97,@ M3F5W(%)O;6%N+"!4:6UE6QE/3-$)W=I9'1H.B`Q,#`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`H&5D+71E2!I;G9E'0M:6YD96YT.B`P+C5I;B<^ M)B,Q-C`[/"]P/@T*#0H-"@T*/'`@6QE/3-$)V9O;G0Z(#AP="]N M;W)M86P@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)V9O;G0Z(#AP="]N;W)M86P@5&EM97,@3F5W(%)O;6%N+"!4:6UE M'0O M:F%V87-C3X-"B`@("`\ M=&%B;&4@8VQA6QE/3-$)V9O;G0Z(#AP M="]N;W)M86P@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE M/3-$)V9O;G0Z(#AP="]N;W)M86P@5&EM97,@3F5W(%)O;6%N+"!4:6UE2!0'0M86QI M9VXZ(&-E;G1E6QE/3-$)V9O;G0Z(#AP="]N;W)M86P@5&EM97,@3F5W(%)O;6%N M+"!4:6UE2!T:&4@;V9F:6-E6QE/3-$)V9O;G0Z(#AP="]N;W)M86P@5&EM97,@3F5W M(%)O;6%N+"!4:6UE6QE/3-$)W=I9'1H.B`Q,#`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`H&5D+71E2!I;G9E'0M:6YD96YT.B`P+C5I;B<^)B,Q M-C`[/"]P/@T*#0H-"@T*/'`@6QE/3-$)V9O;G0Z(#AP="]N;W)M M86P@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE M/3-$)V9O;G0Z(#AP="]N;W)M86P@5&EM97,@3F5W(%)O;6%N+"!4:6UE'0O:F%V M87-C3X-"B`@("`\=&%B M;&4@8VQA'0^4V5P(#,L M#0H)"3(P,3,\'0^4EE$15@@5D%224%"3$4@5%)54U0\4-E;G1R86Q);F1E>$ME>3PO=&0^#0H@("`@("`@(#QT9"!C M;&%S'0^,#`P,3`V-#`T-CQS<&%N/CPO'0^9F%L'0^36%Y(#$L#0H)"3(P,3,\'0^ M/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L M87-S/3-$'0@0FQO8VM=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^8VLP M,#`Q,#8T,#0V7U-U<'!L96UE;G1497AT0FQO8VL\+W1D/@T*("`@("`@("`\ M=&0@8VQA6QE/3-$)V9O;G0Z(#AP="]N;W)M86P@ M5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE/3-$)V9O;G0Z M(#AP="]N;W)M86P@5&EM97,@3F5W(%)O;6%N+"!4:6UE2!0'0M86QI9VXZ(&-E;G1E M6QE M/3-$)V9O;G0Z(#AP="]N;W)M86P@5&EM97,@3F5W(%)O;6%N+"!4:6UE2!T:&4@;V9F:6-E6QE/3-$)V9O;G0Z(#AP="]N;W)M86P@5&EM97,@3F5W(%)O;6%N+"!4 M:6UE6QE/3-$)W=I9'1H.B`Q,#`E.R!B;W)D97(M8V]L;&%P6QE M/3-$)V9O;G0Z(#AP="!4:6UE6QE/3-$)V9O;G0Z M(#AP="\Q,34E($-A;&EB2!&=6YD+B8C M,30X.R!4:&5R969O2!&=6YD+B8C,30X.SPO M<#X\'0^/'1A8FQE(&-E;&QS<&%C:6YG/3-$,"!C96QL<&%D9&EN M9STS1#`@6QE/3-$ M)V9O;G0Z(#AP="!4:6UE'0^/'`@6QE/3-$)V9O;G0Z(#AP M="]N;W)M86P@5&EM97,@3F5W(%)O;6%N+"!4:6UE6QE6QE2!H;VQD(&)O=&@@;&]N9R!A;F0@2!I;B!T:&4@2!I M;G9E&5D(&EN8V]M92!S96-U2!M87)K970@:6YS=')U M;65N=',L(&]V97)N:6=H="!A;F0@9FEX960M=&5R;0T*65AF4@:71S(&1E2!E M;G1E6QE/3-$)V9O;G0Z(#AP="]N;W)M86P@5&EM97,@3F5W(%)O M;6%N+"!4:6UE'1";&]C:SPO=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'`@6QE/3-$)V9O M;G0Z(#AP="]N;W)M86P@5&EM97,@3F5W(%)O;6%N+"!4:6UE#`U,30\+W`^ M#0H-"@T*#0H\<"!S='EL93TS1"=F;VYT.B`X<'0O;F]R;6%L(%1I;65S($YE M=R!2;VUA;BP@5&EM97,L(%-E3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\Q,C(X M.3(R9E\U,F%A7S1F.#%?.&%F-5]B,3DQ-S$V,6(Y,S(-"D-O;G1E;G0M3&]C M871I;VXZ(&9I;&4Z+R\O0SHO,3(R.#DR,F9?-3)A85\T9C@Q7SAA9C5?8C$Y M,3&UL#0I#;VYT96YT+51R M86YS9F5R+45N8V]D:6YG.B!Q=6]T960M<')I;G1A8FQE#0I#;VYT96YT+51Y M<&4Z('1E>'0O:'1M;#L@8VAA&UL M;G,Z;STS1")U&UL/@T*+2TM+2TM/5].97AT4&%R=%\Q,C(X.3(R9E\U,F%A7S1F 8.#%?.&%F-5]B,3DQ-S$V,6(Y,S(M+0T* ` end XML 14 R4.xml IDEA: Risk/Return Detail Data 2.4.0.8040000 - Disclosure - Risk/Return Detail Data {Elements}truetruefalse1false falsefalseAsOf2013-09-03http://www.sec.gov/CIK0001064046duration2013-09-03T00:00:002013-09-03T00:00:001true 1rr_RiskReturnAbstractrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 2dei_DocumentTypedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00497falsefalsefalsedei:submissionTypeItemTypestringThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".No definition available.false03false 2dei_DocumentPeriodEndDatedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-09-03falsefalsetruexbrli:dateItemTypedateThe end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.No definition available.false04false 2dei_EntityRegistrantNamedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00RYDEX VARIABLE TRUSTfalsefalsefalsexbrli:normalizedStringItemTypenormalizedstringThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 false05false 2dei_EntityCentralIndexKeydei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse000001064046falsefalsefalsedei:centralIndexKeyItemTypenaA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 false06false 2dei_AmendmentFlagdei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsexbrli:booleanItemTypenaIf the value is true, then the document is an amendment to previously-filed/accepted document.No definition available.false07false 2dei_DocumentCreationDatedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-09-03falsefalsetruexbrli:dateItemTypedateThe date the document was made available and submitted, in CCYY-MM-DD format. The date of submission, date of acceptance by the recipient, and the document effective date are all potentially different.No definition available.false08false 2dei_DocumentEffectiveDatedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-09-03falsefalsetruexbrli:dateItemTypedateThe date when a document, upon receipt and acceptance, becomes officially effective, in CCYY-MM-DD format. Usually it is a system-assigned date time value, but it may be declared by the submitter in some cases.No definition available.false09false 2rr_ProspectusDaterr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-05-01falsefalsetruexbrli:dateItemTypedateThe date of the prospectus.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 1 -Subsection a -Paragraph 3 false010false 0truefalsetruefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2false truefalseAsOf2013-09-03_custom_S000003729Memberhttp://www.sec.gov/CIK0001064046duration2013-09-03T00:00:002013-09-03T00:00:00falsefalseU.S. Long Short Momentum Funddei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldick0001064046_S000003729Memberdei_LegalEntityAxisexplicitMembernanafalse011true 1rr_RiskReturnAbstractrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse012false 2ck0001064046_SupplementTextBlockck0001064046_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><b>U.S. Long Short Momentum Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><b>Supplement Dated August&#160;30, 2013</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>to the Summary Prospectus, Statutory Prospectus</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>and Statement of Additional Information Dated May&#160;1, 2013,</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>as supplemented from time to time</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><b>IMPORTANT NOTICE REGARDING CHANGE IN INVESTMENT POLICY</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"><b>This supplement provides additional information beyond that contained in the currently effective Summary Prospectus, Statutory Prospectus (together, with the Summary Prospectus, the &#147;Prospectuses&#148;) and Statement of Additional Information the (&#147;SAI&#148;) for U.S. Long Short Momentum Fund (the &#147;Fund&#148;) and should be read in conjunction with the Prospectuses and SAI.</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">At a meeting held on August&#160;26, 2013, the Board of Trustees (the &#147;Board&#148;) of Rydex Variable Trust (the &#147;Trust&#148;) approved a name change for the Fund. The Board also approved the adoption of a non-fundamental investment policy for the Fund. These changes, which are discussed in more detail below, will become effective on October&#160;30, 2013, or such later date as deemed appropriate by the officers of the Trust (the &#147;Effective Date&#148;).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4%; font: 8pt/115% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>A.</b></font></td> <td style="font: 8pt/115% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fund Name Change</b></font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0">On the Effective Date, the new name of the Fund will be &#147;Long Short Equity Fund.&#148; Therefore, all references to the &#147;U.S. Long Short Momentum Fund&#148; in the Fund&#146;s Prospectuses and SAI will be replaced with &#147;Long Short Equity Fund.&#148;</p>falsefalsefalsexbrli:stringItemTypestringCustom Element.No definition available.false013false 2rr_StrategyHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> <td style="width: 4%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>B.</b></font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Change of Principal Investment Strategies</b></font></td></tr> </table>falsefalsefalsexbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false014false 2rr_StrategyNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="margin: 0pt">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0">On the Effective Date, the current description of the Fund&#146;s principal investment strategies under the heading &#147;Principal Investment Strategies&#148; in the &#147;Fund Summary&#148; section of the Fund&#146;s Prospectuses will be replaced in its entirety as set forth below.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0.25in 0 0 17.45pt"><b>PRINCIPAL INVESTMENT STRATEGIES</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0 17.45pt">The Fund will invest, under normal circumstances, at least 80% of its assets (net assets plus the amount of borrowings for investment purposes) in long and short equity or equity-like securities, including individual securities and derivatives (based on their notional value for purposes of this 80% calculation) giving exposure (<i>i.e.</i>, economic characteristics similar to) to different sectors or industries to which the Fund is seeking exposure.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0 17.45pt">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 17.45pt">The Fund seeks to respond to the dynamically changing economy by moving its investments among different industries and styles&#160;<i>(i.e</i>., non-industry factors including, but not limited to, valuations, growth prospects and capitalization). The Advisor allocates investments to industries and styles according to several measures of momentum. Companies associated with industries and/or styles demonstrating positive momentum are favored while those experiencing negative momentum are disfavored. The Fund may hold both long and short positions. Equity positions are determined based on their associated industry and style momentum, risk characteristics, and liquidity. The Fund invests in equity securities, including small-, mid-, and large-capitalization securities, such as U.S. traded common stocks and American Depositary Receipts (&#147;ADRs&#148;), but also may invest in derivative instruments which primarily consist of equity index swaps, futures contracts, and options on securities, futures contracts, and stock indices. Equity index swaps and futures and options contracts enable the Fund to pursue its investment objective without investing directly in the securities of companies included in the different sectors or industries to which the Fund is seeking exposure. The Fund may invest in derivatives to hedge or gain leveraged exposure to a particular sector, industry or company depending on market conditions. Certain of the Fund&#146;s derivative investments may be traded in the over-the-counter (&#147;OTC&#148;) market, which generally provides for less transparency than exchange-traded derivative instruments. The Fund also may enter into short sales of broad-based stock indices for hedging purposes in an effort to reduce portfolio risk or volatility. While the Fund anticipates investing in these instruments to seek to achieve its investment objective, the extent of the Fund&#146;s investment in these instruments may vary from day to day depending on a number of different factors, including price, availability, and general market conditions. On a day-to-day basis, the Fund may hold U.S. government securities, short-term, high quality (rated AA or higher) fixed income securities, money market instruments, overnight and fixed-term repurchase agreements, cash and other cash equivalents with maturities of one year or less to collateralize its derivative positions or for defensive purposes to seek to avoid losses during adverse market conditions. The Fund also may enter into repurchase agreements with counterparties that are deemed to present acceptable credit risks. In an effort to ensure that the Fund is fully invested on a day-to-day basis, the Fund may conduct significant trading activity at or just prior to the close of the U.S. financial markets. The Fund is non-diversified and, therefore, may invest a greater percentage of its assets in a particular issuer in comparison to a diversified fund.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&#160;</p> <p style="margin: 0pt"></p>falsefalsefalsenonnum:textBlockItemTypenaPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false015false 2ck0001064046_SupplementClosingTextBlockck0001064046_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 24pt 0 0; text-align: center"><b>Please Retain This Supplement for Future Reference</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">USLSMVT-SUP1-0813x0514</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"></p>falsefalsefalsexbrli:stringItemTypestringCustom Element.No definition available.false0falseRisk/Return Detail DataUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://xbrl.sec.gov/rr/role/RiskReturnDetailData115 XML 15 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.8 HtmlAndXml 2 12 1 false 1 0 false 2 false false R1.htm 0003 - Document - Document And Entity Information Sheet http://rydex-sgi.com/role/DocumentAndEntityInformation Document And Entity Information R1.xml false false R2.htm 0004 - Document - U.S. Long Short Momentum Fund {Unlabeled} Sheet http://rydex-sgi.com/role/U.S.LongShortMomentumFundUnlabeled U.S. Long Short Momentum Fund R2.xml false false R3.htm 010000 - Document - Risk/Return Summary {Unlabeled} Sheet http://xbrl.sec.gov/rr/role/RiskReturn Risk/Return Summary R3.xml false false R4.htm 040000 - Disclosure - Risk/Return Detail Data {Elements} Sheet http://xbrl.sec.gov/rr/role/RiskReturnDetailData Risk/Return Detail Data R4.xml true false All Reports Book All Reports ck0001064046-20130903.xml ck0001064046-20130903.xsd ck0001064046-20130903_cal.xml ck0001064046-20130903_def.xml ck0001064046-20130903_lab.xml ck0001064046-20130903_pre.xml true true XML 16 R3.htm IDEA: XBRL DOCUMENT v2.4.0.8
U.S. Long Short Momentum Fund

U.S. Long Short Momentum Fund

Supplement Dated August 30, 2013

to the Summary Prospectus, Statutory Prospectus

and Statement of Additional Information Dated May 1, 2013,

as supplemented from time to time

IMPORTANT NOTICE REGARDING CHANGE IN INVESTMENT POLICY

This supplement provides additional information beyond that contained in the currently effective Summary Prospectus, Statutory Prospectus (together, with the Summary Prospectus, the “Prospectuses”) and Statement of Additional Information the (“SAI”) for U.S. Long Short Momentum Fund (the “Fund”) and should be read in conjunction with the Prospectuses and SAI.

At a meeting held on August 26, 2013, the Board of Trustees (the “Board”) of Rydex Variable Trust (the “Trust”) approved a name change for the Fund. The Board also approved the adoption of a non-fundamental investment policy for the Fund. These changes, which are discussed in more detail below, will become effective on October 30, 2013, or such later date as deemed appropriate by the officers of the Trust (the “Effective Date”).

 

A. Fund Name Change

On the Effective Date, the new name of the Fund will be “Long Short Equity Fund.” Therefore, all references to the “U.S. Long Short Momentum Fund” in the Fund’s Prospectuses and SAI will be replaced with “Long Short Equity Fund.”

B. Change of Principal Investment Strategies

 

On the Effective Date, the current description of the Fund’s principal investment strategies under the heading “Principal Investment Strategies” in the “Fund Summary” section of the Fund’s Prospectuses will be replaced in its entirety as set forth below.

PRINCIPAL INVESTMENT STRATEGIES

The Fund will invest, under normal circumstances, at least 80% of its assets (net assets plus the amount of borrowings for investment purposes) in long and short equity or equity-like securities, including individual securities and derivatives (based on their notional value for purposes of this 80% calculation) giving exposure (i.e., economic characteristics similar to) to different sectors or industries to which the Fund is seeking exposure.

 

The Fund seeks to respond to the dynamically changing economy by moving its investments among different industries and styles (i.e., non-industry factors including, but not limited to, valuations, growth prospects and capitalization). The Advisor allocates investments to industries and styles according to several measures of momentum. Companies associated with industries and/or styles demonstrating positive momentum are favored while those experiencing negative momentum are disfavored. The Fund may hold both long and short positions. Equity positions are determined based on their associated industry and style momentum, risk characteristics, and liquidity. The Fund invests in equity securities, including small-, mid-, and large-capitalization securities, such as U.S. traded common stocks and American Depositary Receipts (“ADRs”), but also may invest in derivative instruments which primarily consist of equity index swaps, futures contracts, and options on securities, futures contracts, and stock indices. Equity index swaps and futures and options contracts enable the Fund to pursue its investment objective without investing directly in the securities of companies included in the different sectors or industries to which the Fund is seeking exposure. The Fund may invest in derivatives to hedge or gain leveraged exposure to a particular sector, industry or company depending on market conditions. Certain of the Fund’s derivative investments may be traded in the over-the-counter (“OTC”) market, which generally provides for less transparency than exchange-traded derivative instruments. The Fund also may enter into short sales of broad-based stock indices for hedging purposes in an effort to reduce portfolio risk or volatility. While the Fund anticipates investing in these instruments to seek to achieve its investment objective, the extent of the Fund’s investment in these instruments may vary from day to day depending on a number of different factors, including price, availability, and general market conditions. On a day-to-day basis, the Fund may hold U.S. government securities, short-term, high quality (rated AA or higher) fixed income securities, money market instruments, overnight and fixed-term repurchase agreements, cash and other cash equivalents with maturities of one year or less to collateralize its derivative positions or for defensive purposes to seek to avoid losses during adverse market conditions. The Fund also may enter into repurchase agreements with counterparties that are deemed to present acceptable credit risks. In an effort to ensure that the Fund is fully invested on a day-to-day basis, the Fund may conduct significant trading activity at or just prior to the close of the U.S. financial markets. The Fund is non-diversified and, therefore, may invest a greater percentage of its assets in a particular issuer in comparison to a diversified fund.

 

Please Retain This Supplement for Future Reference

USLSMVT-SUP1-0813x0514

XML 17 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
U.S. Long Short Momentum Fund

U.S. Long Short Momentum Fund

Supplement Dated August 30, 2013

to the Summary Prospectus, Statutory Prospectus

and Statement of Additional Information Dated May 1, 2013,

as supplemented from time to time

IMPORTANT NOTICE REGARDING CHANGE IN INVESTMENT POLICY

This supplement provides additional information beyond that contained in the currently effective Summary Prospectus, Statutory Prospectus (together, with the Summary Prospectus, the “Prospectuses”) and Statement of Additional Information the (“SAI”) for U.S. Long Short Momentum Fund (the “Fund”) and should be read in conjunction with the Prospectuses and SAI.

At a meeting held on August 26, 2013, the Board of Trustees (the “Board”) of Rydex Variable Trust (the “Trust”) approved a name change for the Fund. The Board also approved the adoption of a non-fundamental investment policy for the Fund. These changes, which are discussed in more detail below, will become effective on October 30, 2013, or such later date as deemed appropriate by the officers of the Trust (the “Effective Date”).

 

A. Fund Name Change

On the Effective Date, the new name of the Fund will be “Long Short Equity Fund.” Therefore, all references to the “U.S. Long Short Momentum Fund” in the Fund’s Prospectuses and SAI will be replaced with “Long Short Equity Fund.”

B. Change of Principal Investment Strategies

 

On the Effective Date, the current description of the Fund’s principal investment strategies under the heading “Principal Investment Strategies” in the “Fund Summary” section of the Fund’s Prospectuses will be replaced in its entirety as set forth below.

PRINCIPAL INVESTMENT STRATEGIES

The Fund will invest, under normal circumstances, at least 80% of its assets (net assets plus the amount of borrowings for investment purposes) in long and short equity or equity-like securities, including individual securities and derivatives (based on their notional value for purposes of this 80% calculation) giving exposure (i.e., economic characteristics similar to) to different sectors or industries to which the Fund is seeking exposure.

 

The Fund seeks to respond to the dynamically changing economy by moving its investments among different industries and styles (i.e., non-industry factors including, but not limited to, valuations, growth prospects and capitalization). The Advisor allocates investments to industries and styles according to several measures of momentum. Companies associated with industries and/or styles demonstrating positive momentum are favored while those experiencing negative momentum are disfavored. The Fund may hold both long and short positions. Equity positions are determined based on their associated industry and style momentum, risk characteristics, and liquidity. The Fund invests in equity securities, including small-, mid-, and large-capitalization securities, such as U.S. traded common stocks and American Depositary Receipts (“ADRs”), but also may invest in derivative instruments which primarily consist of equity index swaps, futures contracts, and options on securities, futures contracts, and stock indices. Equity index swaps and futures and options contracts enable the Fund to pursue its investment objective without investing directly in the securities of companies included in the different sectors or industries to which the Fund is seeking exposure. The Fund may invest in derivatives to hedge or gain leveraged exposure to a particular sector, industry or company depending on market conditions. Certain of the Fund’s derivative investments may be traded in the over-the-counter (“OTC”) market, which generally provides for less transparency than exchange-traded derivative instruments. The Fund also may enter into short sales of broad-based stock indices for hedging purposes in an effort to reduce portfolio risk or volatility. While the Fund anticipates investing in these instruments to seek to achieve its investment objective, the extent of the Fund’s investment in these instruments may vary from day to day depending on a number of different factors, including price, availability, and general market conditions. On a day-to-day basis, the Fund may hold U.S. government securities, short-term, high quality (rated AA or higher) fixed income securities, money market instruments, overnight and fixed-term repurchase agreements, cash and other cash equivalents with maturities of one year or less to collateralize its derivative positions or for defensive purposes to seek to avoid losses during adverse market conditions. The Fund also may enter into repurchase agreements with counterparties that are deemed to present acceptable credit risks. In an effort to ensure that the Fund is fully invested on a day-to-day basis, the Fund may conduct significant trading activity at or just prior to the close of the U.S. financial markets. The Fund is non-diversified and, therefore, may invest a greater percentage of its assets in a particular issuer in comparison to a diversified fund.

 

Please Retain This Supplement for Future Reference

USLSMVT-SUP1-0813x0514

XML 18 R3.xml IDEA: Risk/Return Summary 2.4.0.8010000 - Document - Risk/Return Summary {Unlabeled}falsefalsefalse1false falsefalseAsOf2013-09-03_custom_S000003729Memberhttp://www.sec.gov/CIK0001064046duration2013-09-03T00:00:002013-09-03T00:00:001false 0truefalsetruefalsefalsefalsefalsefalsefalse1falsefalsefalse00U.S. Long Short Momentum Fundfalsefalsefalse1false truefalseAsOf2013-09-03_custom_S000003729Memberhttp://www.sec.gov/CIK0001064046duration2013-09-03T00:00:002013-09-03T00:00:00falsefalseU.S. Long Short Momentum Funddei_LegalEntityAxisxbrldihttp://xbrl.org/2006/xbrldick0001064046_S000003729Memberdei_LegalEntityAxisexplicitMembernanafalse02false 2ck0001064046_SupplementTextBlockck0001064046_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><b>U.S. Long Short Momentum Fund</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><b>Supplement Dated August&#160;30, 2013</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>to the Summary Prospectus, Statutory Prospectus</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>and Statement of Additional Information Dated May&#160;1, 2013,</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><b>as supplemented from time to time</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><b>IMPORTANT NOTICE REGARDING CHANGE IN INVESTMENT POLICY</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"><b>This supplement provides additional information beyond that contained in the currently effective Summary Prospectus, Statutory Prospectus (together, with the Summary Prospectus, the &#147;Prospectuses&#148;) and Statement of Additional Information the (&#147;SAI&#148;) for U.S. Long Short Momentum Fund (the &#147;Fund&#148;) and should be read in conjunction with the Prospectuses and SAI.</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">At a meeting held on August&#160;26, 2013, the Board of Trustees (the &#147;Board&#148;) of Rydex Variable Trust (the &#147;Trust&#148;) approved a name change for the Fund. The Board also approved the adoption of a non-fundamental investment policy for the Fund. These changes, which are discussed in more detail below, will become effective on October&#160;30, 2013, or such later date as deemed appropriate by the officers of the Trust (the &#147;Effective Date&#148;).</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&#160;</p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4%; font: 8pt/115% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>A.</b></font></td> <td style="font: 8pt/115% Calibri, Helvetica, Sans-Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Fund Name Change</b></font></td></tr> </table> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0">On the Effective Date, the new name of the Fund will be &#147;Long Short Equity Fund.&#148; Therefore, all references to the &#147;U.S. Long Short Momentum Fund&#148; in the Fund&#146;s Prospectuses and SAI will be replaced with &#147;Long Short Equity Fund.&#148;</p>falsefalsefalsexbrli:stringItemTypestringCustom Element.No definition available.false03false 2rr_StrategyHeadingrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse; font: 8pt Times New Roman, Times, Serif"> <tr style="vertical-align: top; font: 8pt Times New Roman, Times, Serif"> <td style="width: 4%; font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>B.</b></font></td> <td style="font: 8pt/115% Times New Roman, Times, Serif"><font style="font: 8pt Times New Roman, Times, Serif"><b>Change of Principal Investment Strategies</b></font></td></tr> </table>falsefalsefalsexbrli:stringItemTypestringPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false04false 2rr_StrategyNarrativeTextBlockrr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="margin: 0pt">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0">On the Effective Date, the current description of the Fund&#146;s principal investment strategies under the heading &#147;Principal Investment Strategies&#148; in the &#147;Fund Summary&#148; section of the Fund&#146;s Prospectuses will be replaced in its entirety as set forth below.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0.25in 0 0 17.45pt"><b>PRINCIPAL INVESTMENT STRATEGIES</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0 17.45pt">The Fund will invest, under normal circumstances, at least 80% of its assets (net assets plus the amount of borrowings for investment purposes) in long and short equity or equity-like securities, including individual securities and derivatives (based on their notional value for purposes of this 80% calculation) giving exposure (<i>i.e.</i>, economic characteristics similar to) to different sectors or industries to which the Fund is seeking exposure.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 6pt 0 0 17.45pt">&#160;</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0 0 0 17.45pt">The Fund seeks to respond to the dynamically changing economy by moving its investments among different industries and styles&#160;<i>(i.e</i>., non-industry factors including, but not limited to, valuations, growth prospects and capitalization). The Advisor allocates investments to industries and styles according to several measures of momentum. Companies associated with industries and/or styles demonstrating positive momentum are favored while those experiencing negative momentum are disfavored. The Fund may hold both long and short positions. Equity positions are determined based on their associated industry and style momentum, risk characteristics, and liquidity. The Fund invests in equity securities, including small-, mid-, and large-capitalization securities, such as U.S. traded common stocks and American Depositary Receipts (&#147;ADRs&#148;), but also may invest in derivative instruments which primarily consist of equity index swaps, futures contracts, and options on securities, futures contracts, and stock indices. Equity index swaps and futures and options contracts enable the Fund to pursue its investment objective without investing directly in the securities of companies included in the different sectors or industries to which the Fund is seeking exposure. The Fund may invest in derivatives to hedge or gain leveraged exposure to a particular sector, industry or company depending on market conditions. Certain of the Fund&#146;s derivative investments may be traded in the over-the-counter (&#147;OTC&#148;) market, which generally provides for less transparency than exchange-traded derivative instruments. The Fund also may enter into short sales of broad-based stock indices for hedging purposes in an effort to reduce portfolio risk or volatility. While the Fund anticipates investing in these instruments to seek to achieve its investment objective, the extent of the Fund&#146;s investment in these instruments may vary from day to day depending on a number of different factors, including price, availability, and general market conditions. On a day-to-day basis, the Fund may hold U.S. government securities, short-term, high quality (rated AA or higher) fixed income securities, money market instruments, overnight and fixed-term repurchase agreements, cash and other cash equivalents with maturities of one year or less to collateralize its derivative positions or for defensive purposes to seek to avoid losses during adverse market conditions. The Fund also may enter into repurchase agreements with counterparties that are deemed to present acceptable credit risks. In an effort to ensure that the Fund is fully invested on a day-to-day basis, the Fund may conduct significant trading activity at or just prior to the close of the U.S. financial markets. The Fund is non-diversified and, therefore, may invest a greater percentage of its assets in a particular issuer in comparison to a diversified fund.</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&#160;</p> <p style="margin: 0pt"></p>falsefalsefalsenonnum:textBlockItemTypenaPrincipal investment strategies of the Fund. Summarize how the Fund intends to achieve its investment objectives by identifying the Fund's principal investment strategies (including the type or types of securities in which the Fund invests or will invest principally) and any policy to concentrate in securities of issuers in a particular industry or group of industries.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 4 -Subsection a false05false 2ck0001064046_SupplementClosingTextBlockck0001064046_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00<p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 24pt 0 0; text-align: center"><b>Please Retain This Supplement for Future Reference</b></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"></p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0">USLSMVT-SUP1-0813x0514</p> <p style="font: 8pt/normal Times New Roman, Times, Serif; margin: 12pt 0 0"></p>falsefalsefalsexbrli:stringItemTypestringCustom Element.No definition available.false0falseRisk/Return Summary (U.S. Long Short Momentum Fund)UnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://xbrl.sec.gov/rr/role/RiskReturn15 XML 19 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 20 R1.htm IDEA: XBRL DOCUMENT v2.4.0.8
Document And Entity Information
0 Months Ended
Sep. 03, 2013
Document And Entity Information  
Document Type 497
Document Period End Date Sep. 03, 2013
Registrant Name RYDEX VARIABLE TRUST
Central Index Key 0001064046
Amendment Flag false
Document Creation Date Sep. 03, 2013
Document Effective Date Sep. 03, 2013
Prospectus Date May 01, 2013
XML 21 R1.xml IDEA: Document And Entity Information 2.4.0.80003 - Document - Document And Entity Informationtruefalsefalse1false falsefalseAsOf2013-09-03http://www.sec.gov/CIK0001064046duration2013-09-03T00:00:002013-09-03T00:00:001true 1ck0001064046_DocumentAndEntityInformationAbstractck0001064046_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false 2dei_DocumentTypedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00497falsefalsefalsedei:submissionTypeItemTypestringThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".No definition available.false03false 2dei_DocumentPeriodEndDatedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-09-03falsefalsetruexbrli:dateItemTypedateThe end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.No definition available.false04false 2dei_EntityRegistrantNamedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00RYDEX VARIABLE TRUSTfalsefalsefalsexbrli:normalizedStringItemTypenormalizedstringThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 false05false 2dei_EntityCentralIndexKeydei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse000001064046falsefalsefalsedei:centralIndexKeyItemTypenaA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation 12B -Number 240 -Section 12b -Subsection 1 false06false 2dei_AmendmentFlagdei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsefalsexbrli:booleanItemTypenaIf the value is true, then the document is an amendment to previously-filed/accepted document.No definition available.false07false 2dei_DocumentCreationDatedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-09-03falsefalsetruexbrli:dateItemTypedateThe date the document was made available and submitted, in CCYY-MM-DD format. The date of submission, date of acceptance by the recipient, and the document effective date are all potentially different.No definition available.false08false 2dei_DocumentEffectiveDatedei_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-09-03falsefalsetruexbrli:dateItemTypedateThe date when a document, upon receipt and acceptance, becomes officially effective, in CCYY-MM-DD format. Usually it is a system-assigned date time value, but it may be declared by the submitter in some cases.No definition available.false09false 2rr_ProspectusDaterr_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse002013-05-01falsefalsetruexbrli:dateItemTypedateThe date of the prospectus.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form -Number N-1A -Chapter A -Section 1 -Subsection a -Paragraph 3 false0falseDocument And Entity InformationUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://rydex-sgi.com/role/DocumentAndEntityInformation19