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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Anheuser-Busch Inbev SA/NV</name>
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          <ticker value="BUD"/>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Siemens Energy AG</name>
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          <ticker value="SMERY"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ASML Holding N.V.</name>
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          <isin value="USN070592100"/>
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        <curCd>USD</curCd>
        <valUSD>48870.71000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Hermes International</name>
        <lei>969500Y4IJGHJE2MTJ13</lei>
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          <isin value="US42751Q1058"/>
          <ticker value="HESAY"/>
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        <curCd>USD</curCd>
        <valUSD>6260.43000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BNP Paribas SA</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>BNP Paribas SA SPONSORED ADR</title>
        <cusip>05565A202</cusip>
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          <isin value="US05565A2024"/>
          <ticker value="BNPQY"/>
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        <curCd>USD</curCd>
        <valUSD>9280.05000000</valUSD>
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        <assetCat>EC</assetCat>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Rio Tinto PLC</name>
        <lei>213800YOEO5OQ72G2R82</lei>
        <title>Rio Tinto PLC SPONSORED ADR</title>
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          <isin value="US7672041008"/>
          <ticker value="RIO"/>
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        <curCd>USD</curCd>
        <valUSD>9422.29000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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        <name>Guggenheim Strategy Funds Trust</name>
        <lei>5493007THUTJ3GMETL84</lei>
        <title>Guggenheim Strategy Fund II</title>
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          <isin value="US40168Q2057"/>
          <ticker value="GFSBX"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Unilever PLC</name>
        <lei>549300MKFYEKVRWML317</lei>
        <title>Unilever PLC SPON ADR NEW</title>
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          <isin value="US9047678035"/>
          <ticker value="UL"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Munich Reinsurance AG</name>
        <lei>529900MUF4C20K50JS49</lei>
        <title>Munich Reinsurance AG UNSPONSORED ADR</title>
        <cusip>626188106</cusip>
        <identifiers>
          <isin value="US6261881063"/>
          <ticker value="MURGY"/>
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        <balance>614.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>7717.98000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>TotalEnergies SE</name>
        <lei>529900S21EQ1BO4ESM68</lei>
        <title>TotalEnergies SE EUR2.5</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000120271"/>
          <ticker value="TTE"/>
          <other otherDesc="SEDOL" value="B15CVJ3"/>
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        <curCd>USD</curCd>
        <valUSD>18741.88000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>EUREX CLEARING AKTIENGESELLSCHAFT</name>
        <lei>529900LN3S50JPU47S06</lei>
        <title>STOXX Europe 50 Index Futures(FSTX) Index Fut</title>
        <cusip>000000000</cusip>
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          <other otherDesc="FIGI" value="BBG01XH18M26"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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        <name>MERRILL LYNCH, PIERCE, FENNER &amp; SMITH INCORPORATED</name>
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        <units>PA</units>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Siemens AG</name>
        <lei>W38RGI023J3WT1HWRP32</lei>
        <title>Siemens AG SPONSORED ADR</title>
        <cusip>826197501</cusip>
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          <isin value="US8261975010"/>
          <ticker value="SIEGY"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Axa SA</name>
        <lei>F5WCUMTUM4RKZ1MAIE39</lei>
        <title>Axa SA SPONSORED ADR</title>
        <cusip>054536107</cusip>
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          <isin value="US0545361075"/>
          <ticker value="AXAHY"/>
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        <curCd>USD</curCd>
        <valUSD>7633.84000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>SAP SE</name>
        <lei>529900D6BF99LW9R2E68</lei>
        <title>SAP SE SPON ADR</title>
        <cusip>803054204</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Vinci SA</name>
        <lei>213800WFQ334R8UXUG83</lei>
        <title>Vinci SA ADR</title>
        <cusip>927320101</cusip>
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          <isin value="US9273201015"/>
          <ticker value="VCISY"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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      <invstOrSec>
        <name>Air Liquide S.A.(L')</name>
        <lei>969500MMPQVHK671GT54</lei>
        <title>Air Liquide S.A.(L') ADR</title>
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          <isin value="US0091262024"/>
          <ticker value="AIQUY"/>
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        <name>L'Oreal S.A.</name>
        <lei>529900JI1GG6F7RKVI53</lei>
        <title>L'Oreal S.A. ADR</title>
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          <ticker value="LRLCY"/>
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        <name>UniCredit S.p.A.</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UniCredit S.p.A. UNSPONSORD ADR</title>
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        <name>Compagnie Financiere Richemont Sa</name>
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        <title>Compagnie Financiere Richemont Sa SPON ADR</title>
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          <ticker value="CFRUY"/>
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        <invCountry>CH</invCountry>
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        <lei>5QK37QC7NWOJ8D7WVQ45</lei>
        <title>Iberdrola, S.A. SPON ADR</title>
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          <ticker value="IBDRY"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LVMH Moet Hennessy Louis Vuitton SE</name>
        <lei>IOG4E947OATN0KJYSD45</lei>
        <title>LVMH Moet Hennessy Louis Vuitton SE ADR</title>
        <cusip>502441306</cusip>
        <identifiers>
          <isin value="US5024413065"/>
          <ticker value="LVMUY"/>
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        <balance>118.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12890.32000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Guggenheim Funds Trust</name>
        <lei>54930033G24U3UGWK691</lei>
        <title>Guggenheim Ultra Short Duration Fund</title>
        <cusip>40169J523</cusip>
        <identifiers>
          <isin value="US40169J5231"/>
          <ticker value="GIYIX"/>
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        <balance>18098.00200000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>181884.92000000</valUSD>
        <pctVal>11.94258602771</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ING Groep N.V.</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING Groep N.V. SPONSORED ADR</title>
        <cusip>456837103</cusip>
        <identifiers>
          <isin value="US4568371037"/>
          <ticker value="ING"/>
        </identifiers>
        <balance>276.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7189.80000000</valUSD>
        <pctVal>0.472083144782</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>London Stock Exchange Group PLC</name>
        <lei>213800QAUUUP6I445N30</lei>
        <title>London Stock Exchange Group PLC SPONSORED ADS</title>
        <cusip>54211Y107</cusip>
        <identifiers>
          <isin value="US54211Y1073"/>
          <ticker value="LSEGY"/>
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        <balance>185.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5518.55000000</valUSD>
        <pctVal>0.362348665976</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>ABB Ltd.</name>
        <lei>5493000LKVGOO9PELI61</lei>
        <title>ABB Ltd. SPONSORED ADR</title>
        <cusip>000375204</cusip>
        <identifiers>
          <isin value="US0003752047"/>
          <ticker value="ABBNY"/>
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        <balance>149.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11991.52000000</valUSD>
        <pctVal>0.787364665542</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>AstraZeneca PLC</name>
        <lei>PY6ZZQWO2IZFZC3IOL08</lei>
        <title>AstraZeneca PLC ORD USD0.25</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB0009895292"/>
          <ticker value="AZN"/>
          <other otherDesc="SEDOL" value="B01DCL2"/>
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        <balance>146.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>28794.12000000</valUSD>
        <pctVal>1.890625430586</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Banco Bilbao Vizcaya Argentaria SA</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>Banco Bilbao Vizcaya Argentaria SA SPONSORED ADR</title>
        <cusip>05946K101</cusip>
        <identifiers>
          <isin value="US05946K1016"/>
          <ticker value="BBVA"/>
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        <balance>541.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11718.06000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sanofi SA</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi SA SPONSORED ADR</title>
        <cusip>80105N105</cusip>
        <identifiers>
          <isin value="US80105N1054"/>
          <ticker value="SNY"/>
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        <balance>214.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10310.52000000</valUSD>
        <pctVal>0.676990000547</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>National Grid PLC</name>
        <lei>8R95QZMKZLJX5Q2XR704</lei>
        <title>National Grid PLC SPONSORED ADR NE</title>
        <cusip>636274409</cusip>
        <identifiers>
          <isin value="US6362744095"/>
          <ticker value="NGG"/>
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        <balance>98.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8290.80000000</valUSD>
        <pctVal>0.544374939046</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Roche Holding AG</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>Roche Holding AG SPONSORED ADR</title>
        <cusip>771195104</cusip>
        <identifiers>
          <isin value="US7711951043"/>
          <ticker value="RHHBY"/>
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        <balance>532.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26445.72000000</valUSD>
        <pctVal>1.736429200203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>EssilorLuxottica SA</name>
        <lei>549300M3VH1A3ER1TB49</lei>
        <title>EssilorLuxottica SA UNSPONSORED ADR</title>
        <cusip>297284200</cusip>
        <identifiers>
          <isin value="US2972842007"/>
          <ticker value="ESLOY"/>
        </identifiers>
        <balance>59.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6873.50000000</valUSD>
        <pctVal>0.451314848209</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>HSBC Holdings PLC</name>
        <lei>MLU0ZO3ML4LN2LL2TL39</lei>
        <title>HSBC Holdings PLC SPON ADR NEW</title>
        <cusip>404280406</cusip>
        <identifiers>
          <isin value="US4042804066"/>
          <ticker value="HSBC"/>
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        <balance>323.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26644.27000000</valUSD>
        <pctVal>1.749466017416</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Airbus SE</name>
        <lei>MINO79WLOO247M1IL051</lei>
        <title>Airbus SE UNSPONSORED ADR</title>
        <cusip>009279100</cusip>
        <identifiers>
          <isin value="US0092791005"/>
          <ticker value="EADSY"/>
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        <balance>222.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10489.50000000</valUSD>
        <pctVal>0.688741849174</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Rolls-Royce Holdings PLC</name>
        <lei>213800EC7997ZBLZJH69</lei>
        <title>Rolls-Royce Holdings PLC SPONSORED ADR</title>
        <cusip>775781206</cusip>
        <identifiers>
          <isin value="US7757812067"/>
          <ticker value="RYCEY"/>
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        <balance>793.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12228.06000000</valUSD>
        <pctVal>0.802895910788</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Novartis AG</name>
        <lei>5493007HIVTX6SY6XD66</lei>
        <title>Novartis AG SPONSORED ADR</title>
        <cusip>66987V109</cusip>
        <identifiers>
          <isin value="US66987V1098"/>
          <ticker value="NVS"/>
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        <balance>179.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>27342.25000000</valUSD>
        <pctVal>1.795295469334</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>GSK plc</name>
        <lei>5493000HZTVUYLO1D793</lei>
        <title>GSK plc SPONSORED ADR</title>
        <cusip>37733W204</cusip>
        <identifiers>
          <isin value="US37733W2044"/>
          <ticker value="GSK"/>
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        <balance>193.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>10651.67000000</valUSD>
        <pctVal>0.699389951150</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>CHICAGO MERCANTILE EXCHANGE INC.</name>
        <lei>SNZ2OJLFK8MNNCLQOF39</lei>
        <title>Euro FX Futures, Jun-2026,ETH</title>
        <cusip>000000000</cusip>
        <identifiers>
          <ticker value="6EM6"/>
          <other otherDesc="FIGI" value="BBG011BQCNY5"/>
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        <balance>9.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-790.80000000</valUSD>
        <pctVal>-0.05192402443</pctVal>
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        <assetCat>DFE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
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            <payOffProf>Long</payOffProf>
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                <issueTitle>EURO FX CURRENCY</issueTitle>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Deutsche Telekom AG</name>
        <lei>549300V9QSIG4WX4GJ96</lei>
        <title>Deutsche Telekom AG SPONSORED ADS</title>
        <cusip>251566105</cusip>
        <identifiers>
          <isin value="US2515661054"/>
          <ticker value="DTEGY"/>
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        <balance>332.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12310.56000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Relx PLC</name>
        <lei>549300WSX3VBUFFJOO66</lei>
        <title>Relx PLC SPONSORED ADR</title>
        <cusip>759530108</cusip>
        <identifiers>
          <isin value="US7595301083"/>
          <ticker value="RELX"/>
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        <balance>172.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5701.80000000</valUSD>
        <pctVal>0.374380883323</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Allianz SE</name>
        <lei>529900K9B0N5BT694847</lei>
        <title>Allianz SE UNSPONSRD ADS</title>
        <cusip>018820100</cusip>
        <identifiers>
          <isin value="US0188201000"/>
          <ticker value="ALIZY"/>
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        <balance>359.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15092.36000000</valUSD>
        <pctVal>0.990966198083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Safran SA</name>
        <lei>969500UIC89GT3UL7L24</lei>
        <title>Safran SA SPON ADR</title>
        <cusip>786584102</cusip>
        <identifiers>
          <isin value="US7865841024"/>
          <ticker value="SAFRY"/>
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        <balance>139.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11402.17000000</valUSD>
        <pctVal>0.748667872672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Shell PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>Shell PLC SPON ADS</title>
        <cusip>780259305</cusip>
        <identifiers>
          <isin value="US7802593050"/>
          <ticker value="SHEL"/>
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        <balance>267.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>24831.00000000</valUSD>
        <pctVal>1.630406488092</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UBS Group AG</name>
        <lei>549300SZJ9VS8SGXAN81</lei>
        <title>UBS Group AG CHF0.10 (REGD)</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0244767585"/>
          <ticker value="UBS"/>
          <other otherDesc="SEDOL" value="BRTR118"/>
        </identifiers>
        <balance>291.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11369.37000000</valUSD>
        <pctVal>0.746514220672</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Schneider Electric SE</name>
        <lei>969500A1YF1XUYYXS284</lei>
        <title>Schneider Electric SE UNSPONSORD ADR</title>
        <cusip>80687P106</cusip>
        <identifiers>
          <isin value="US80687P1066"/>
          <ticker value="SBGSY"/>
        </identifiers>
        <balance>273.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14859.39000000</valUSD>
        <pctVal>0.975669359473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Prosus NV</name>
        <lei>635400Z5LQ5F9OLVT688</lei>
        <title>Prosus NV SPONSORED ADR</title>
        <cusip>74365P108</cusip>
        <identifiers>
          <isin value="US74365P1084"/>
          <ticker value="PROSY"/>
        </identifiers>
        <balance>580.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5365.00000000</valUSD>
        <pctVal>0.352266554251</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Enel S.p.A.</name>
        <lei>WOCMU6HCI0OJWNPRZS33</lei>
        <title>Enel S.p.A. UNSPONSORD ADR</title>
        <cusip>29265W207</cusip>
        <identifiers>
          <isin value="US29265W2070"/>
          <ticker value="ENLAY"/>
        </identifiers>
        <balance>734.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7985.92000000</valUSD>
        <pctVal>0.524356481067</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zurich Insurance Group AG</name>
        <lei>529900QVNRBND50TXP03</lei>
        <title>Zurich Insurance Group AG SPONSORED ADR</title>
        <cusip>989825104</cusip>
        <identifiers>
          <isin value="US9898251049"/>
          <ticker value="ZURVY"/>
        </identifiers>
        <balance>276.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>9800.76000000</valUSD>
        <pctVal>0.643519096783</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco Santander SA</name>
        <lei>5493006QMFDDMYWIAM13</lei>
        <title>Banco Santander SA ADR</title>
        <cusip>05964H105</cusip>
        <identifiers>
          <isin value="US05964H1059"/>
          <ticker value="SAN"/>
        </identifiers>
        <balance>1391.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15690.48000000</valUSD>
        <pctVal>1.030238830223</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BP PLC</name>
        <lei>213800LH1BZH3DI6G760</lei>
        <title>BP PLC SPONSORED ADR</title>
        <cusip>055622104</cusip>
        <identifiers>
          <isin value="US0556221044"/>
          <ticker value="BP"/>
        </identifiers>
        <balance>259.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12173.00000000</valUSD>
        <pctVal>0.799280664473</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>British American Tobacco PLC</name>
        <lei>213800FKA5MF17RJKT63</lei>
        <title>British American Tobacco PLC SPONSORED ADR</title>
        <cusip>110448107</cusip>
        <identifiers>
          <isin value="US1104481072"/>
          <ticker value="BTI"/>
        </identifiers>
        <balance>205.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>11986.35000000</valUSD>
        <pctVal>0.787025202712</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-06-01</ncom:dateSigned>
      <ncom:nameOfApplicant>Rydex Variable Trust</ncom:nameOfApplicant>
      <ncom:signature>James Howley</ncom:signature>
      <ncom:signerName>James Howley</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
