<?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">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>

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


      <seriesClassInfo>
        <seriesId>S000018293</seriesId>
        <classId>C000050428</classId>
        <classId>C000050430</classId>
        <classId>C000050429</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>Japan 2x Strategy Fund</seriesName>
      <seriesId>S000018293</seriesId>
      <seriesLei>549300TYQ6P1QBF6GR37</seriesLei>
      <repPdEnd>2025-03-31</repPdEnd>
      <repPdDate>2024-06-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>1460771.87</totAssets>
      <totLiabs>2249.28</totLiabs>
      <netAssets>1458522.59</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="C000050428" rtn1="-18.39857300" rtn2="1.90203900" rtn3="0.59745200"/>
          <monthlyTotReturn classId="C000050430" rtn1="-18.40117800" rtn2="1.89395300" rtn3="0.60705600"/>
          <monthlyTotReturn classId="C000050429" rtn1="-18.45312800" rtn2="1.80060300" rtn3="0.54088900"/>
        </monthlyTotReturns>
        <monthlyReturnCats>
          <equityContracts>
            <mon1 netRealizedGain="-60680.30000000" netUnrealizedAppr="-234471.25000000"/>
            <mon2 netRealizedGain="-82684.57000000" netUnrealizedAppr="122590.25000000"/>
            <mon3 netRealizedGain="-20261.75000000" netUnrealizedAppr="98738.40000000"/>
            <futureCategory>
              <instrMon1 netRealizedGain="-60680.30000000" netUnrealizedAppr="-234471.25000000"/>
              <instrMon2 netRealizedGain="-82684.57000000" netUnrealizedAppr="122590.25000000"/>
              <instrMon3 netRealizedGain="-20261.75000000" netUnrealizedAppr="98738.40000000"/>
            </futureCategory>
          </equityContracts>
          <foreignExchgContracts>
            <mon1 netRealizedGain="-81906.06000000" netUnrealizedAppr="-131588.17000000"/>
            <mon2 netRealizedGain="-120158.40000000" netUnrealizedAppr="114457.64000000"/>
            <mon3 netRealizedGain="-150859.74000000" netUnrealizedAppr="77048.94000000"/>
            <futureCategory>
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              <instrMon2 netRealizedGain="-120158.40000000" netUnrealizedAppr="114457.64000000"/>
              <instrMon3 netRealizedGain="-150859.74000000" netUnrealizedAppr="77048.94000000"/>
            </futureCategory>
          </foreignExchgContracts>
        </monthlyReturnCats>
        <othMon1 netRealizedGain="0.00000000" netUnrealizedAppr="3.10000000"/>
        <othMon2 netRealizedGain="0.00000000" netUnrealizedAppr="138.32000000"/>
        <othMon3 netRealizedGain="0.00000000" netUnrealizedAppr="-135.23000000"/>
      </returnInfo>
      <mon1Flow redemption="755307.47000000" reinvestment="0.00000000" sales="473727.55000000"/>
      <mon2Flow redemption="583172.79000000" reinvestment="0.00000000" sales="194707.26000000"/>
      <mon3Flow redemption="389318.62000000" reinvestment="0.00000000" sales="58242.01000000"/>


      <varInfo>

        <fundsDesignatedInfo>
          <nameDesignatedIndex>Nikkei 225 Stock Average</nameDesignatedIndex>
          <indexIdentifier>NIKJPYUSD</indexIdentifier>

        </fundsDesignatedInfo>

      </varInfo>
    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>Japanese Yen Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="JYU4"/>
        </identifiers>
        <balance>37.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>-68080.15000000</valUSD>
        <pctVal>-4.66774738127</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <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>Japanese Yen</issueTitle>
                <identifiers>
                  <cusip value="N/A"/>
                  <other otherDesc="Currency" value="Japanese Yen"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <expDate>2024-09-16</expDate>
            <notionalAmt>2977436.40000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>-68080.15000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Chicago Mercantile Exchange</name>
        <lei>N/A</lei>
        <title>Nikkei 225 (CME) Index Futures Contracts</title>
        <cusip>N/A</cusip>
        <identifiers>
          <ticker value="NXU4"/>
        </identifiers>
        <balance>15.00000000</balance>
        <units>NC</units>
        <curCd>USD</curCd>
        <valUSD>61975.25000000</valUSD>
        <pctVal>4.249179986989</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerConditional desc="Derivative" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <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>
              <indexBasketInfo>
                <indexName>Nikkei 225</indexName>
                <indexIdentifier>JP9010C00002</indexIdentifier>
              </indexBasketInfo>
            </descRefInstrmnt>
            <expDate>2024-09-12</expDate>
            <notionalAmt>2925649.75000000</notionalAmt>
            <curCd>USD</curCd>
            <unrealizedAppr>61975.25000000</unrealizedAppr>
          </futrDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BOFA SECURITIES, INC.</name>
        <lei>549300HN4UKV1E2R3U73</lei>
        <title>BofA Securities, Inc.</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="REPO-BANK"/>
        </identifiers>
        <balance>427417.88000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>427417.88000000</valUSD>
        <pctVal>29.30485156215</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="549300HN4UKV1E2R3U73" name="BOFA SECURITIES, INC."/>
            </counterpartyInfos>
          </notClearedCentCparty>
          <isTriParty>Y</isTriParty>
          <repurchaseRt>5.30000000</repurchaseRt>
          <maturityDt>2024-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>574313.01000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>435966.24000000</collateralVal>
              <collateralCd>USD</collateralCd>
              <invstCat>UST</invstCat>
            </repurchaseCollateral>
          </repurchaseCollaterals>
        </repurchaseAgrmt>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>U.S. Treasury Bills</title>
        <cusip>912797KN6</cusip>
        <identifiers>
          <isin value="US912797KN61"/>
        </identifiers>
        <balance>477000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>476446.41000000</valUSD>
        <pctVal>32.66637166037</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>UST</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2024-07-09</maturityDt>
          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>J.P. MORGAN SECURITIES LLC</name>
        <lei>ZBUT11V806EZRVTWT807</lei>
        <title>J.P. Morgan Securities LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="REPO-JP M"/>
        </identifiers>
        <balance>542145.36000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>542145.36000000</valUSD>
        <pctVal>37.17085794331</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>5.32000000</repurchaseRt>
          <maturityDt>2024-07-01</maturityDt>
          <repurchaseCollaterals>
            <repurchaseCollateral>
              <principalAmt>550275.61000000</principalAmt>
              <principalCd>USD</principalCd>
              <collateralVal>552988.33000000</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>2024-07-30</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>
  <documents>XXXX</documents>
</edgarSubmission>
