<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
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    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

      <filer>
        <issuerCredentials>
          <cik>0000899148</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>


      <seriesClassInfo>
        <seriesId>S000003684</seriesId>
        <classId>C000010307</classId>
        <classId>C000149021</classId>
        <classId>C000010310</classId>
        <classId>C000010309</classId>
      </seriesClassInfo>

    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>Rydex Series Funds</regName>
      <regFileNumber>811-07584</regFileNumber>
      <regCik>0000899148</regCik>
      <regLei>5493004D62WV1EDNTU07</regLei>
      <regStreet1>702 King Farm Blvd., Suite 200</regStreet1>
      <regCity>Rockville</regCity>
      <regStateConditional regCountry="US" regState="US-MD"/>
      <regZipOrPostalCode>20850</regZipOrPostalCode>
      <regPhone>301-296-5100</regPhone>
      <seriesName>Government Long Bond 1.2x Strategy Fund</seriesName>
      <seriesId>S000003684</seriesId>
      <seriesLei>549300LDVIAAU00XRD49</seriesLei>
      <repPdEnd>2024-03-31</repPdEnd>
      <repPdDate>2024-03-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>21542723.97</totAssets>
      <totLiabs>166408.97</totLiabs>
      <netAssets>21376315.00</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>0.21000000</cshNotRptdInCorD>
      <curMetrics>
        <curMetric>
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      </curMetrics>
      <creditSprdRiskInvstGrade period10Yr="0.00000000" period1Yr="441.61015356" period30Yr="0.00000000" period3Mon="0.00000000" period5Yr="59.15550478"/>
      <creditSprdRiskNonInvstGrade period10Yr="0.00000000" period1Yr="0.00000000" period30Yr="0.00000000" period3Mon="0.00000000" period5Yr="0.00000000"/>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
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          <monthlyTotReturn classId="C000010309" rtn1="-3.33068100" rtn2="-2.82655800" rtn3="0.89456800"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
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            <mon2 netRealizedGain="370515.92000000" netUnrealizedAppr="-742647.21000000"/>
            <mon3 netRealizedGain="37394.58000000" netUnrealizedAppr="18658.63000000"/>
            <futureCategory>
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              <instrMon2 netRealizedGain="370515.92000000" netUnrealizedAppr="-742647.21000000"/>
              <instrMon3 netRealizedGain="37394.58000000" netUnrealizedAppr="18658.63000000"/>
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          </interestRtContracts>
        </monthlyReturnCats>
        <othMon1 netRealizedGain="-229677.22000000" netUnrealizedAppr="-611276.96000000"/>
        <othMon2 netRealizedGain="636162.52000000" netUnrealizedAppr="-1371562.90000000"/>
        <othMon3 netRealizedGain="89753.93000000" netUnrealizedAppr="-66950.33000000"/>
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      <mon1Flow redemption="33532510.11000000" reinvestment="104054.44000000" sales="34285333.31000000"/>
      <mon2Flow redemption="53288511.97000000" reinvestment="98767.14000000" sales="46345816.45000000"/>
      <mon3Flow redemption="43789355.80000000" reinvestment="83341.21000000" sales="37632936.30000000"/>


      <varInfo>

        <fundsDesignatedInfo>
          <nameDesignatedIndex>Bloomberg US Treasury Bellwethers 30 Year Index</nameDesignatedIndex>
          <indexIdentifier>LEH_30PYR</indexIdentifier>

        </fundsDesignatedInfo>

      </varInfo>
    </fundInfo>
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        <title>BofA Securities, Inc.</title>
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        <identifiers>
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        </identifiers>
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        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34718.18000000</valUSD>
        <pctVal>0.162414242117</pctVal>
        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
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          <isTriParty>Y</isTriParty>
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          <maturityDt>2024-04-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
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              <invstCat>UST</invstCat>
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          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>US TREASURY N/B</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bonds</title>
        <cusip>912810TX6</cusip>
        <identifiers>
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        <payoffProfile>Long</payoffProfile>
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        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
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          <couponKind>Fixed</couponKind>
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          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Chicago Board of Trade</name>
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        <cusip>N/A</cusip>
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          <ticker value="WNM4"/>
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        <payoffProfile>N/A</payoffProfile>
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        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <derivativeInfo>
          <futrDeriv derivCat="FUT">
            <counterparties>
              <counterpartyName>Goldman Sachs &amp; Co. LLC</counterpartyName>
              <counterpartyLei>FOR8UP27PHTHYVLBNG30</counterpartyLei>
            </counterparties>
            <payOffProf>Long</payOffProf>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>N/A</issuerName>
                <issueTitle>US 30yr 6.00%</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="Interest Rate Future" value="US 30yr 6.00%"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2024-06-18</expDate>
            <notionalAmt>6083103.52000000</notionalAmt>
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            <unrealizedAppr>108896.48000000</unrealizedAppr>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
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      </invstOrSec>
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        <valUSD>31469.03000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Guggenheim Partners Investment Management LLC</name>
        <lei>N/A</lei>
        <title>Guggenheim Ultra Short Duration Fund - Institutional Class</title>
        <cusip>40169J523</cusip>
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        <fairValLevel>1</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
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          <isin value="US912797JN80"/>
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        <balance>572000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>570743.09000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2024-04-30</ncom:dateSigned>
      <ncom:nameOfApplicant>Rydex Series Funds</ncom:nameOfApplicant>
      <ncom:signature>James Howley</ncom:signature>
      <ncom:signerName>James Howley</ncom:signerName>
      <ncom:title>CFO</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
