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      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <attachmentsTab>
      <isLegalProceedings>true</isLegalProceedings>
      <isProvisionFinancialSupport>false</isProvisionFinancialSupport>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isChangeAccPrinciples>false</isChangeAccPrinciples>
      <isInfoRequiredEO>false</isInfoRequiredEO>
      <isOtherInfoRequired>false</isOtherInfoRequired>
    </attachmentsTab>
    <signature registrantSignedName="Rydex Dynamic Funds" signedDate="2019-06-14" signature="John Sullivan" title="CFO"/>
  </formData>
</edgarSubmission>
