SECOND AMENDMENT TO INVESTMENT ADVISORY CONTRACT

THIS SECOND AMENDMENT to the Investment Advisory Contract is made as of the 20th day of November 2017, between Guggenheim Funds Trust, a Delaware statutory trust (the “Trust”), and Security Investors, LLC, a Kansas limited liability company (the “Management Company”).

WHEREAS, the Trust, on behalf of Guggenheim Investment Grade Bond Fund, a series of the Trust (the “Fund”), and other series of the Trust, and the Management Company are parties to an Investment Advisory Contract made as of January 27, 2014 (the “Agreement”); and

WHEREAS, the parties amended the Agreement effective as of January 30, 2017 (the “First Amendment”) to introduce a breakpoint in the advisory fee schedule for the Fund; and

WHEREAS, the parties hereby wish to amend the Agreement to reduce the advisory fee for the Fund.

NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, it is agreed between the parties hereto as follows:

1. The compensation payable by the Fund to the Management Company pursuant to Section 5(a) of the Agreement is revised effective as of November 20, 2017 to provide that Guggenheim Investment Grade Bond Fund shall pay the Management Company an annual fee equal to 0.39 percent of the average daily net assets of Guggenheim Investment Grade Bond Fund.

2. The advisory fee breakpoint introduced by the First Amendment for the Fund is hereby terminated.

3. Except as otherwise set forth herein, the terms and conditions of the Agreement shall remain in full force and effect.

[Signature Page Follows]

IN WITNESS WHEREOF, the parties hereto have caused this instrument to be executed by their officers designated below as of the day and year first above written.

GUGGENHEIM FUNDS TRUST		SECURITY INVESTORS, LLC
By:		By:
Name:	Amy J. Lee	Name:	Amy J. Lee
Title:	Chief Executive Officer	Title:	Senior Vice President and Secretary

[Signature Page to Second Amendment to Investment Advisory Contract]