<?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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    <isConfidential>false</isConfidential>
    <accessionNumber>0001752724-24-048501</accessionNumber>
    <filerInfo>

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


      <seriesClassInfo>
        <seriesId>S000018292</seriesId>
        <classId>C000050425</classId>
        <classId>C000050426</classId>
        <classId>C000050427</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>Inverse Emerging Markets 2x Strategy Fund</seriesName>
      <seriesId>S000018292</seriesId>
      <seriesLei>549300XEOQTYPZN81706</seriesLei>
      <repPdEnd>2024-03-31</repPdEnd>
      <repPdDate>2023-12-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>326152.39</totAssets>
      <totLiabs>21558.39</totLiabs>
      <netAssets>304594.00</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>0.00000000</cshNotRptdInCorD>
      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000050425" rtn1="7.43621500" rtn2="-16.28210800" rtn3="-8.84281300"/>
          <monthlyTotReturn classId="C000050426" rtn1="7.17873700" rtn2="-16.20902000" rtn3="-8.89656800"/>
          <monthlyTotReturn classId="C000050427" rtn1="7.28804000" rtn2="-16.19854500" rtn3="-8.91125600"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
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            <swapCategory>
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        </monthlyReturnCats>
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        <othMon2 netRealizedGain="0.00000000" netUnrealizedAppr="-0.01000000"/>
        <othMon3 netRealizedGain="0.00000000" netUnrealizedAppr="0.00000000"/>
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      <mon2Flow redemption="1784258.77000000" reinvestment="0.00000000" sales="1605882.46000000"/>
      <mon3Flow redemption="2425926.65000000" reinvestment="14521.99000000" sales="2420823.64000000"/>


      <varInfo>

        <fundsDesignatedInfo>
          <nameDesignatedIndex>BNY Mellon Emerging Markets 50 ADR Index</nameDesignatedIndex>
          <indexIdentifier>SPBKTEMG</indexIdentifier>

        </fundsDesignatedInfo>

      </varInfo>
    </fundInfo>
    <invstOrSecs>
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        <name>BNP Paribas</name>
        <lei>R0MUWSFPU8MPRO8K5P83</lei>
        <title>S&amp;P Emerging 50 ADR Index</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="BNPSWAP"/>
        </identifiers>
        <balance>-122.25980000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-9448.36000000</valUSD>
        <pctVal>-3.10195210673</pctVal>
        <payoffProfile>N/A</payoffProfile>
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        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <swapDeriv derivCat="SWP">
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              <counterpartyName>BNP Paribas</counterpartyName>
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            <descRefInstrmnt>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="FEDL01 Index" floatingRtSpread="-0.20000000" pmntAmt="0.00000000">
              <rtResetTenors>
                <rtResetTenor rateTenor="Month" rateTenorUnit="3" resetDt="Day" resetDtUnit="1"/>
              </rtResetTenors>
            </floatingRecDesc>
            <otherPmntDesc fixedOrFloating="Other">S&amp;P Emerging 50 ADR Index-Tenor Quarterly</otherPmntDesc>
            <terminationDt>2024-03-21</terminationDt>
            <upfrontPmnt>0.00000000</upfrontPmnt>
            <pmntCurCd>USD</pmntCurCd>
            <upfrontRcpt>0.00000000</upfrontRcpt>
            <rcptCurCd>USD</rcptCurCd>
            <notionalAmt>-335742.53000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-9448.36000000</unrealizedAppr>
          </swapDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Goldman Sachs International</name>
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        <identifiers>
          <other otherDesc="Internal ID" value="GSSWAP"/>
        </identifiers>
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        <units>NC</units>
        <curCd>USD</curCd>
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        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
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            <descRefInstrmnt>
              <indexBasketInfo>
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                <indexIdentifier>N/A</indexIdentifier>
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            <swapFlag>Y</swapFlag>
            <floatingRecDesc curCd="USD" fixedOrFloating="Floating" floatingRtIndex="FEDL01 Index" floatingRtSpread="-0.75000000" pmntAmt="0.00000000">
              <rtResetTenors>
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              </rtResetTenors>
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          </swapDeriv>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>BOFA SECURITIES, INC.</name>
        <lei>549300HN4UKV1E2R3U73</lei>
        <title>BofA Securities, Inc.</title>
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        <identifiers>
          <other otherDesc="Internal ID" value="REPO-BANK"/>
        </identifiers>
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        <curCd>USD</curCd>
        <valUSD>145069.10000000</valUSD>
        <pctVal>47.62703795872</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
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          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
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          <isTriParty>Y</isTriParty>
          <repurchaseRt>5.35000000</repurchaseRt>
          <maturityDt>2024-01-02</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
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              <principalCd>USD</principalCd>
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              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
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        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>J.P. Morgan Securities LLC</title>
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        <identifiers>
          <other otherDesc="Internal ID" value="REPO-JP M"/>
        </identifiers>
        <balance>180011.89000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>180011.89000000</valUSD>
        <pctVal>59.09896124020</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>RA</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <repurchaseAgrmt>
          <transCat>Repurchase</transCat>
          <notClearedCentCparty isCleared="N">
            <counterpartyInfos>
              <counterpartyInfo lei="ZBUT11V806EZRVTWT807" name="J.P. MORGAN SECURITIES LLC"/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>5.33000000</repurchaseRt>
          <maturityDt>2024-01-02</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>184963.90000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>183612.26000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2024-07-15</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>
  <documents>XXXX</documents>
</edgarSubmission>
