<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/ncen" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0404</schemaVersion>
  <headerData>
    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0000899148</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
        <fileNumber>811-07584</fileNumber>
      </filer>
      <flags>
        <returnCopyFlag>false</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-1A</investmentCompanyType>
    </filerInfo>
    <seriesClass>
      <reportSeriesClass>
        <rptSeriesClassInfo>
          <seriesId>S000003803</seriesId>
          <classInfo>
            <classId>C000010601</classId>
          </classInfo>
          <classInfo>
            <classId>C000010600</classId>
          </classInfo>
          <classInfo>
            <classId>C000010599</classId>
          </classInfo>
          <classInfo>
            <classId>C000010598</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000018291</seriesId>
          <classInfo>
            <classId>C000050422</classId>
          </classInfo>
          <classInfo>
            <classId>C000050423</classId>
          </classInfo>
          <classInfo>
            <classId>C000050424</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003690</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003684</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003804</seriesId>
          <classInfo>
            <classId>C000010604</classId>
          </classInfo>
          <classInfo>
            <classId>C000010605</classId>
          </classInfo>
          <classInfo>
            <classId>C000010602</classId>
          </classInfo>
          <classInfo>
            <classId>C000010603</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003683</seriesId>
          <classInfo>
            <classId>C000010305</classId>
          </classInfo>
          <classInfo>
            <classId>C000010304</classId>
          </classInfo>
          <classInfo>
            <classId>C000010306</classId>
          </classInfo>
          <classInfo>
            <classId>C000010303</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003772</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003802</seriesId>
          <classInfo>
            <classId>C000010596</classId>
          </classInfo>
          <classInfo>
            <classId>C000010597</classId>
          </classInfo>
          <classInfo>
            <classId>C000010594</classId>
          </classInfo>
          <classInfo>
            <classId>C000010595</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003805</seriesId>
          <classInfo>
            <classId>C000010607</classId>
          </classInfo>
          <classInfo>
            <classId>C000010609</classId>
          </classInfo>
          <classInfo>
            <classId>C000010606</classId>
          </classInfo>
          <classInfo>
            <classId>C000010608</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003800</seriesId>
          <classInfo>
            <classId>C000010587</classId>
          </classInfo>
          <classInfo>
            <classId>C000010589</classId>
          </classInfo>
          <classInfo>
            <classId>C000010588</classId>
          </classInfo>
          <classInfo>
            <classId>C000010586</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003770</seriesId>
          <classInfo>
            <classId>C000010451</classId>
          </classInfo>
          <classInfo>
            <classId>C000010453</classId>
          </classInfo>
          <classInfo>
            <classId>C000010452</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003691</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000018292</seriesId>
          <classInfo>
            <classId>C000050426</classId>
          </classInfo>
          <classInfo>
            <classId>C000050425</classId>
          </classInfo>
          <classInfo>
            <classId>C000050427</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003768</seriesId>
          <classInfo>
            <classId>C000010446</classId>
          </classInfo>
          <classInfo>
            <classId>C000010445</classId>
          </classInfo>
          <classInfo>
            <classId>C000010447</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003775</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003801</seriesId>
          <classInfo>
            <classId>C000010591</classId>
          </classInfo>
          <classInfo>
            <classId>C000010590</classId>
          </classInfo>
          <classInfo>
            <classId>C000010593</classId>
          </classInfo>
          <classInfo>
            <classId>C000010592</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003695</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003812</seriesId>
          <classInfo>
            <classId>C000010635</classId>
          </classInfo>
          <classInfo>
            <classId>C000010636</classId>
          </classInfo>
          <classInfo>
            <classId>C000010637</classId>
          </classInfo>
          <classInfo>
            <classId>C000010634</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003807</seriesId>
          <classInfo>
            <classId>C000010617</classId>
          </classInfo>
          <classInfo>
            <classId>C000010616</classId>
          </classInfo>
          <classInfo>
            <classId>C000010615</classId>
          </classInfo>
          <classInfo>
            <classId>C000010614</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000051596</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003657</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003799</seriesId>
          <classInfo>
            <classId>C000010582</classId>
          </classInfo>
          <classInfo>
            <classId>C000010583</classId>
          </classInfo>
          <classInfo>
            <classId>C000010584</classId>
          </classInfo>
          <classInfo>
            <classId>C000010585</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000041673</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003808</seriesId>
          <classInfo>
            <classId>C000010620</classId>
          </classInfo>
          <classInfo>
            <classId>C000010619</classId>
          </classInfo>
          <classInfo>
            <classId>C000010618</classId>
          </classInfo>
          <classInfo>
            <classId>C000010621</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003809</seriesId>
          <classInfo>
            <classId>C000010622</classId>
          </classInfo>
          <classInfo>
            <classId>C000010624</classId>
          </classInfo>
          <classInfo>
            <classId>C000010625</classId>
          </classInfo>
          <classInfo>
            <classId>C000010623</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003685</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000015881</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003769</seriesId>
          <classInfo>
            <classId>C000010448</classId>
          </classInfo>
          <classInfo>
            <classId>C000010449</classId>
          </classInfo>
          <classInfo>
            <classId>C000010450</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000015882</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000018293</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000012221</seriesId>
          <classInfo>
            <classId>C000033370</classId>
          </classInfo>
          <classInfo>
            <classId>C000033368</classId>
          </classInfo>
          <classInfo>
            <classId>C000033369</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003697</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003761</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003693</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003773</seriesId>
          <classInfo>
            <classId>C000010460</classId>
          </classInfo>
          <classInfo>
            <classId>C000010461</classId>
          </classInfo>
          <classInfo>
            <classId>C000010462</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003688</seriesId>
          <classInfo>
            <classId>C000010320</classId>
          </classInfo>
          <classInfo>
            <classId>C000010322</classId>
          </classInfo>
          <classInfo>
            <classId>C000010321</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003692</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000047391</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003806</seriesId>
          <classInfo>
            <classId>C000010613</classId>
          </classInfo>
          <classInfo>
            <classId>C000010610</classId>
          </classInfo>
          <classInfo>
            <classId>C000010611</classId>
          </classInfo>
          <classInfo>
            <classId>C000010612</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003798</seriesId>
          <classInfo>
            <classId>C000010581</classId>
          </classInfo>
          <classInfo>
            <classId>C000010580</classId>
          </classInfo>
          <classInfo>
            <classId>C000010579</classId>
          </classInfo>
          <classInfo>
            <classId>C000010578</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003813</seriesId>
          <classInfo>
            <classId>C000010640</classId>
          </classInfo>
          <classInfo>
            <classId>C000010639</classId>
          </classInfo>
          <classInfo>
            <classId>C000010641</classId>
          </classInfo>
          <classInfo>
            <classId>C000010638</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003689</seriesId>
          <classInfo>
            <classId>C000010323</classId>
          </classInfo>
          <classInfo>
            <classId>C000010324</classId>
          </classInfo>
          <classInfo>
            <classId>C000010325</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003771</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003811</seriesId>
          <classInfo>
            <classId>C000010632</classId>
          </classInfo>
          <classInfo>
            <classId>C000010631</classId>
          </classInfo>
          <classInfo>
            <classId>C000010630</classId>
          </classInfo>
          <classInfo>
            <classId>C000010633</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000012222</seriesId>
          <classInfo>
            <classId>C000033372</classId>
          </classInfo>
          <classInfo>
            <classId>C000033371</classId>
          </classInfo>
          <classInfo>
            <classId>C000033373</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003810</seriesId>
          <classInfo>
            <classId>C000010626</classId>
          </classInfo>
          <classInfo>
            <classId>C000010627</classId>
          </classInfo>
          <classInfo>
            <classId>C000010629</classId>
          </classInfo>
          <classInfo>
            <classId>C000010628</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003760</seriesId>
          <classInfo>
            <classId>C000010430</classId>
          </classInfo>
          <classInfo>
            <classId>C000010431</classId>
          </classInfo>
          <classInfo>
            <classId>C000010429</classId>
          </classInfo>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000003694</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
      </reportSeriesClass>
    </seriesClass>
  </headerData>
  <formData>
    <generalInfo reportEndingPeriod="2025-03-31" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>Rydex Series Funds</registrantFullName>
      <investmentCompFileNo>811-07584</investmentCompFileNo>
      <registrantCik>0000899148</registrantCik>
      <registrantLei>5493004D62WV1EDNTU07</registrantLei>
      <registrantstreet1>702 King Farm Blvd., Suite 200</registrantstreet1>
      <registrantcity>Rockville</registrantcity>
      <registrantzipCode>20850</registrantzipCode>
      <registrantstate>US-MD</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>301-296-5100</registrantphoneNumber>
      <websites>
        <website webpage="https://www.guggenheiminvestments.com/mf/products"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>MUFG Investor Services (US), LLC</officeName>
          <officeAddress1>805 King Farm Blvd</officeAddress1>
          <officeCity>Rockville</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-MD"/>
          <officeRecordsZipCode>20850</officeRecordsZipCode>
          <officePhone>240-614-4800</officePhone>
          <booksRecordsDesc>Records of the Trust's securities and cash</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <registrantFamilyInvComp isRegistrantFamilyInvComp="Y" familyInvCompFullName="Guggenheim"/>
      <registrantClassificationType>N-1A</registrantClassificationType>
      <totalSeries>51</totalSeries>
      <terminatedSeries>
        <terminatedSeriesInfo seriesName="Long Short Equity Fund" seriesId="S000003686" terminationDate="08/2024"/>
      </terminatedSeries>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>Randall C. Barnes</directorName>
          <crdNumber>004411270</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21982"/>
            <fileNumberInfo fileNumber="811-23702"/>
            <fileNumberInfo fileNumber="811-09525"/>
            <fileNumberInfo fileNumber="811-08821"/>
            <fileNumberInfo fileNumber="811-22437"/>
            <fileNumberInfo fileNumber="811-02753"/>
            <fileNumberInfo fileNumber="811-22946"/>
            <fileNumberInfo fileNumber="811-22309"/>
            <fileNumberInfo fileNumber="811-01136"/>
            <fileNumberInfo fileNumber="811-21309"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Sandra G. Sponem</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21982"/>
            <fileNumberInfo fileNumber="811-21145"/>
            <fileNumberInfo fileNumber="811-22946"/>
            <fileNumberInfo fileNumber="811-02753"/>
            <fileNumberInfo fileNumber="811-01136"/>
            <fileNumberInfo fileNumber="811-08821"/>
            <fileNumberInfo fileNumber="811-22309"/>
            <fileNumberInfo fileNumber="811-22437"/>
            <fileNumberInfo fileNumber="811-22542"/>
            <fileNumberInfo fileNumber="811-09525"/>
            <fileNumberInfo fileNumber="811-23702"/>
            <fileNumberInfo fileNumber="811-08839"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Ronald E. Toupin, Jr.</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21982"/>
            <fileNumberInfo fileNumber="811-01136"/>
            <fileNumberInfo fileNumber="811-22946"/>
            <fileNumberInfo fileNumber="811-09525"/>
            <fileNumberInfo fileNumber="811-02753"/>
            <fileNumberInfo fileNumber="811-23702"/>
            <fileNumberInfo fileNumber="811-08821"/>
            <fileNumberInfo fileNumber="811-22309"/>
            <fileNumberInfo fileNumber="811-22437"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Angela Brock-Kyle</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-09525"/>
            <fileNumberInfo fileNumber="811-22946"/>
            <fileNumberInfo fileNumber="811-21982"/>
            <fileNumberInfo fileNumber="811-22309"/>
            <fileNumberInfo fileNumber="811-22437"/>
            <fileNumberInfo fileNumber="811-23702"/>
            <fileNumberInfo fileNumber="811-08821"/>
            <fileNumberInfo fileNumber="811-01136"/>
            <fileNumberInfo fileNumber="811-02753"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Thomas F. Lydon Jr.</directorName>
          <crdNumber>001099080</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-09525"/>
            <fileNumberInfo fileNumber="811-21982"/>
            <fileNumberInfo fileNumber="811-02753"/>
            <fileNumberInfo fileNumber="811-01136"/>
            <fileNumberInfo fileNumber="811-23702"/>
            <fileNumberInfo fileNumber="811-08821"/>
            <fileNumberInfo fileNumber="811-22309"/>
            <fileNumberInfo fileNumber="811-22946"/>
            <fileNumberInfo fileNumber="811-22437"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Amy J. Lee</directorName>
          <crdNumber>001161869</crdNumber>
          <isDirectorInterestedPerson>Y</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-22309"/>
            <fileNumberInfo fileNumber="811-22946"/>
            <fileNumberInfo fileNumber="811-02753"/>
            <fileNumberInfo fileNumber="811-23702"/>
            <fileNumberInfo fileNumber="811-01136"/>
            <fileNumberInfo fileNumber="811-08821"/>
            <fileNumberInfo fileNumber="811-21982"/>
            <fileNumberInfo fileNumber="811-22437"/>
            <fileNumberInfo fileNumber="811-09525"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Ronald A. Nyberg</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="811-21982"/>
            <fileNumberInfo fileNumber="811-08821"/>
            <fileNumberInfo fileNumber="811-22437"/>
            <fileNumberInfo fileNumber="811-09525"/>
            <fileNumberInfo fileNumber="811-21309"/>
            <fileNumberInfo fileNumber="811-22309"/>
            <fileNumberInfo fileNumber="811-23308"/>
            <fileNumberInfo fileNumber="811-22946"/>
            <fileNumberInfo fileNumber="811-01136"/>
            <fileNumberInfo fileNumber="811-23702"/>
            <fileNumberInfo fileNumber="811-02753"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Elisabeth Miller</ccoName>
          <crdNumber>004381813</crdNumber>
          <ccoStreet1>702 King Farm Blvd., Suite 200</ccoStreet1>
          <ccoCity>Rockville</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-MD"/>
          <ccoZipCode>20850</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="N/A" ccoEmployerId="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <isExemptionFromAct>N</isExemptionFromAct>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>Guggenheim Funds Distributors, LLC</principalUnderwriterName>
          <principalUnderwriterFileNumber>008-48842</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000039805</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>549300YLHACOJHH3DN20</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterCountry="US" principalUnderWriterState="US-MD"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>Y</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>Ernst &amp; Young LLP</publicAccountantName>
          <pcaobNumber>42</pcaobNumber>
          <publicAccountantLei>N/A</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantCountry="US" publicAccountantState="US-VA"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentErrorInNetAssetValue>N</isPaymentErrorInNetAssetValue>
      <paymentDividendSeries isPaymentDividend="Y">
        <seriesInfo seriesName="Electronics Fund" seriesId="S000003803"/>
        <seriesInfo seriesName="Biotechnology Fund" seriesId="S000003802"/>
        <seriesInfo seriesName="Transportation Fund" seriesId="S000003800"/>
        <seriesInfo seriesName="S&amp;P MidCap 400 Pure Growth Fund" seriesId="S000003770"/>
        <seriesInfo seriesName="S&amp;P SmallCap 600 Pure Growth Fund" seriesId="S000003768"/>
        <seriesInfo seriesName="Dow Jones Industrial Average Fund" seriesId="S000051596"/>
        <seriesInfo seriesName="Technology Fund" seriesId="S000003809"/>
        <seriesInfo seriesName="S&amp;P MidCap 400 Pure Value Fund" seriesId="S000003769"/>
        <seriesInfo seriesName="S&amp;P 500 Fund" seriesId="S000012221"/>
        <seriesInfo seriesName="NASDAQ-100 Fund" seriesId="S000003693"/>
        <seriesInfo seriesName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" seriesId="S000047391"/>
        <seriesInfo seriesName="Consumer Products Fund" seriesId="S000003811"/>
        <seriesInfo seriesName="Basic Materials Fund" seriesId="S000003810"/>
      </paymentDividendSeries>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Electronics Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003803</mgmtInvSeriesId>
        <mgmtInvLei>549300D3C8OUGF0S3D85</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010601" sharesOutstandingTickerSymbol="RYSCX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010600" sharesOutstandingTickerSymbol="RYELX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010599" sharesOutstandingTickerSymbol="RYSAX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010598" sharesOutstandingTickerSymbol="RYSIX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>2478350.67000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>26010.35000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2458.16000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3512.58000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>8497.18000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>1916.15000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>8239.39000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>24623.46000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>39789423.80000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>100712728.47000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>38180409.54000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>178682561.81000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>111108156.32416600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="376000.00000000" daysCreditUsed="2"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Emerging Markets 2x Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000018291</mgmtInvSeriesId>
        <mgmtInvLei>549300H4ZUX6MBXRD994</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000050422" sharesOutstandingTickerSymbol="RYWTX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000050423" sharesOutstandingTickerSymbol="RYWUX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000050424" sharesOutstandingTickerSymbol="RYWVX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>0.05950300</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>0.03694300</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00676000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00671100</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>53853.97000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>908.58000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>7483.18000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>1989.42000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2435.95000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>11908.55000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>327400297.72000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>124740941.13000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>420223436.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>9107497.62000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>130345599.96000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>1011817772.43000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>4399600.26166600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Inverse Government Long Bond Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003690</mgmtInvSeriesId>
        <mgmtInvLei>549300MEBX6MJKGCC831</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010326" sharesOutstandingTickerSymbol="RYJUX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010328" sharesOutstandingTickerSymbol="RYAQX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000149022" sharesOutstandingTickerSymbol="RYHJX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010329" sharesOutstandingTickerSymbol="RYJCX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1154.98000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>1154.98000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4566034.22000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CastleOak Securities, LP</principalName>
            <principalFileNo>8-65786</principalFileNo>
            <principalCrdNo>000125334</principalCrdNo>
            <principalLei>549300MXL7C60HZ59S65</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>23996620.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>984902961.96000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2096282.13000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2090731528.24000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MIZUHO SECURITIES USA LLC</principalName>
            <principalFileNo>8-37710</principalFileNo>
            <principalCrdNo>000019647</principalCrdNo>
            <principalLei>7TK5RJIZDFROZCA6XF66</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1852364952.58000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>55287166.08000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Morgan Stanley &amp; Co. LLC</principalName>
            <principalFileNo>8-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4976533.33000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>394046825.52000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Academy Securities, Inc.</principalName>
            <principalFileNo>8-35173</principalFileNo>
            <principalCrdNo>000017433</principalCrdNo>
            <principalLei>2549000QX6RLQOZ2XC11</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4964208.53000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>5419126896.59000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>17989241.00916600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Government Long Bond 1.2x Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003684</mgmtInvSeriesId>
        <mgmtInvLei>549300LDVIAAU00XRD49</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010310" sharesOutstandingTickerSymbol="RYCGX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010309" sharesOutstandingTickerSymbol="RYABX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000149021" sharesOutstandingTickerSymbol="RYHBX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010307" sharesOutstandingTickerSymbol="RYGBX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>4801.43000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>4801.43000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4991804.17000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1999298.33000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>171585753.16000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MIZUHO SECURITIES USA LLC</principalName>
            <principalFileNo>8-37710</principalFileNo>
            <principalCrdNo>000019647</principalCrdNo>
            <principalLei>7TK5RJIZDFROZCA6XF66</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>740849297.19000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>238615417.21000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>96820851.70000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>1254862421.76000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>28280924.94000000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Internet Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003804</mgmtInvSeriesId>
        <mgmtInvLei>549300F6YDL8OMTD9895</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010604" sharesOutstandingTickerSymbol="RYINX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010605" sharesOutstandingTickerSymbol="RYICX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010602" sharesOutstandingTickerSymbol="RYIIX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010603" sharesOutstandingTickerSymbol="RYIAX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>104135.09000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>2120.61000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>909.02000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3288.30000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2830.76000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3497.14000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1112.23000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>11637.45000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5383123.75000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TENDER OFFER</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-WA" principalCountry="US"/>
            <principalTotalPurchaseSale>77122.50000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>14122347.42000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5621785.04000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>25204378.71000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>15477915.82083300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="1000.00000000" daysCreditUsed="1"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Banking Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003683</mgmtInvSeriesId>
        <mgmtInvLei>549300JGYZB0E0PR6F56</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010305" sharesOutstandingTickerSymbol="RYBKX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010304" sharesOutstandingTickerSymbol="RYKAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010306" sharesOutstandingTickerSymbol="RYKCX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010303" sharesOutstandingTickerSymbol="RYKIX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>168714.18000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>1551.83000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>95.60000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>6894.83000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Roth Capital Partners</brokerName>
            <brokerFileNo>8-32129</brokerFileNo>
            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>316.80000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>4932.45000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>7784.38000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1613.47000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>21637.53000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>11573216.39000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4576466.99000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4459735.94000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>20609419.32000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>17283489.64000000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="160428.57000000" daysCreditUsed="7"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Inverse Russell 2000 Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003772</mgmtInvSeriesId>
        <mgmtInvLei>549300BHH0G8TE0M4J77</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010458" sharesOutstandingTickerSymbol="RYAFX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010459" sharesOutstandingTickerSymbol="RYCQX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010457" sharesOutstandingTickerSymbol="RYSHX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>0.15021100</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>0.13232100</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00511900</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00472900</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>49.36000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>49.36000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>15325738.74000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNY MELLON CAPITAL MARKETS, LLC</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>VJW2DOOHGDT6PR0ZRO63</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>49508.25000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>148314.65000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>170339571.85000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>5263015.24000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>123968.53000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>63919158.66000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>67033837.90000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>322203113.82000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>2095620.57666600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Biotechnology Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003802</mgmtInvSeriesId>
        <mgmtInvLei>549300YENG103R306541</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010596" sharesOutstandingTickerSymbol="RYBOX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010597" sharesOutstandingTickerSymbol="RYCFX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010594" sharesOutstandingTickerSymbol="RYOIX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010595" sharesOutstandingTickerSymbol="RYOAX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>1143940.01000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>7853.30000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>4926.64000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>6502.38000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>1800.18000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>15374.24000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Roth Capital Partners</brokerName>
            <brokerFileNo>8-32129</brokerFileNo>
            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>4910.13000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>4095.57000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Leerink Partners LLC</brokerName>
            <brokerFileNo>8-48535</brokerFileNo>
            <brokerCrdNo>000039011</brokerCrdNo>
            <brokerLei>549300AAH7U76CEUBI94</brokerLei>
            <brokerStateCountry brokerState="US-MA" brokerCountry="US"/>
            <grossCommission>3447.65000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>41056.79000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>73756187.84000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>27970917.54000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>29358988.58000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TENDER OFFER</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-MA" principalCountry="US"/>
            <principalTotalPurchaseSale>969975.00000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>132056068.96000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>102192858.38166600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="1375500.00000000" daysCreditUsed="2"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Utilities Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003805</mgmtInvSeriesId>
        <mgmtInvLei>549300MX9ND6Q3VX8378</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010607" sharesOutstandingTickerSymbol="RYAUX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010609" sharesOutstandingTickerSymbol="RYCUX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010606" sharesOutstandingTickerSymbol="RYUIX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010608" sharesOutstandingTickerSymbol="RYUTX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>119555.50000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>886.28000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>6483.02000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Sanford C. Bernstein &amp; Co., LLC</brokerName>
            <brokerFileNo>8-52942</brokerFileNo>
            <brokerCrdNo>000104474</brokerCrdNo>
            <brokerLei>549300I7JYZHT7D5CO04</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>46.28000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>6437.68000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>8271.57000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Leerink Partners LLC</brokerName>
            <brokerFileNo>8-48535</brokerFileNo>
            <brokerCrdNo>000039011</brokerCrdNo>
            <brokerLei>549300AAH7U76CEUBI94</brokerLei>
            <brokerStateCountry brokerState="US-MA" brokerCountry="US"/>
            <grossCommission>2413.21000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>7102.50000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3300.46000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Roth Capital Partners</brokerName>
            <brokerFileNo>8-32129</brokerFileNo>
            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>6889.47000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>40944.19000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>18550499.23000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7349623.41000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7065183.81000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>32965306.45000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>27742943.52833300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="176062.50000000" daysCreditUsed="16"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Transportation Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003800</mgmtInvSeriesId>
        <mgmtInvLei>549300WCHZXLJF6EZG14</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010587" sharesOutstandingTickerSymbol="RYPAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010589" sharesOutstandingTickerSymbol="RYCNX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010588" sharesOutstandingTickerSymbol="RYTSX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010586" sharesOutstandingTickerSymbol="RYPIX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>366867.22000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>5218.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3122.88000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>605.34000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Roth Capital Partners</brokerName>
            <brokerFileNo>8-32129</brokerFileNo>
            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>453.41000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>1153.94000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>471.21000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>5806.78000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6983095.69000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2666342.10000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2758565.15000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>12408002.94000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>9185952.38083300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="22200.00000000" daysCreditUsed="5"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>S&amp;P MidCap 400 Pure Growth Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003770</mgmtInvSeriesId>
        <mgmtInvLei>549300JDRRKVOEKI6K18</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010451" sharesOutstandingTickerSymbol="RYBHX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010453" sharesOutstandingTickerSymbol="RYCKX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010452" sharesOutstandingTickerSymbol="RYMGX"/>
        </sharesOutstandings>
        <fundTypes>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.00063100</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.01404400</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00138900</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00153000</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>130388.47000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>289.28000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>1535.84000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>104685.13000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>40730.74000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>5106.36000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>615.07000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>152673.14000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>13820737.29000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>34700829.24000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>13639243.09000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>62160809.62000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>47493605.29916600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="623500.00000000" daysCreditUsed="2"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Nova Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003691</mgmtInvSeriesId>
        <mgmtInvLei>549300RGN4H1V6HLG643</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000149023" sharesOutstandingTickerSymbol="RYNHX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010333" sharesOutstandingTickerSymbol="RYNCX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010330" sharesOutstandingTickerSymbol="RYNVX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010332" sharesOutstandingTickerSymbol="RYANX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>0.00369500</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.01058700</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00240200</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00252700</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>36444.16000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>108.75000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>Nomura Securities International, Inc.</brokerName>
            <brokerFileNo>8-15255</brokerFileNo>
            <brokerCrdNo>000004297</brokerCrdNo>
            <brokerLei>OXTKY6Q8X53C9ILVV871</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1584.64000000</grossCommission>
          </broker>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>5052.49000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>178.37000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>23058.92000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>13312.88000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>101.32000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>43288.62000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1908099156.88000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>69411954.06000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1244686644.64000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1085877199.76000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MIZUHO SECURITIES USA LLC</principalName>
            <principalFileNo>8-37710</principalFileNo>
            <principalCrdNo>000019647</principalCrdNo>
            <principalLei>7TK5RJIZDFROZCA6XF66</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4999266.67000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNY MELLON CAPITAL MARKETS, LLC</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>VJW2DOOHGDT6PR0ZRO63</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2096899.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CastleOak Securities, LP</principalName>
            <principalFileNo>8-65786</principalFileNo>
            <principalCrdNo>000125334</principalCrdNo>
            <principalLei>549300MXL7C60HZ59S65</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4999351.39000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>22680563.92000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>28407003.22000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>760583615.17000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>5132210734.20000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>264142828.58416600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="592000.00000000" daysCreditUsed="2"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Inverse Emerging Markets 2x Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000018292</mgmtInvSeriesId>
        <mgmtInvLei>549300XEOQTYPZN81706</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000050426" sharesOutstandingTickerSymbol="RYWZX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000050425" sharesOutstandingTickerSymbol="RYWWX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000050427" sharesOutstandingTickerSymbol="RYWYX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.53088800</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.54214000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.09984000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.09978700</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>74089497.26000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>19549309.44000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>2659184.86000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>51373678.88000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>20359029.22000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>168030699.66000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>334069.87333300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>S&amp;P SmallCap 600 Pure Growth Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003768</mgmtInvSeriesId>
        <mgmtInvLei>549300CQEU1JTOSDXE65</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010446" sharesOutstandingTickerSymbol="RYSGX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010445" sharesOutstandingTickerSymbol="RYWAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010447" sharesOutstandingTickerSymbol="RYWCX"/>
        </sharesOutstandings>
        <fundTypes>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.00388200</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.01909400</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00213000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00219800</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>74567.77000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>176.28000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>Roth Capital Partners</brokerName>
            <brokerFileNo>8-32129</brokerFileNo>
            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>122.13000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>11552.12000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>52813.82000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3596.95000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>78626.20000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>52989.14000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>199700.36000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5017045.65000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>11309710.81000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TENDER OFFER</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-TX" principalCountry="US"/>
            <principalTotalPurchaseSale>58000.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4429292.15000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Instinet, LLC</principalName>
            <principalFileNo>8-23669</principalFileNo>
            <principalCrdNo>000007897</principalCrdNo>
            <principalLei>549300MGMN3RKMU8FT57</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>287.01000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>20814335.62000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>18326271.69833300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="82400.00000000" daysCreditUsed="5"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Strengthening Dollar 2x Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003775</mgmtInvSeriesId>
        <mgmtInvLei>549300IEMKZIOF5OOY94</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010467" sharesOutstandingTickerSymbol="RYSDX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010468" sharesOutstandingTickerSymbol="RYSJX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010466" sharesOutstandingTickerSymbol="RYSBX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>0.06926000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>0.04936800</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.02746700</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.02742700</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>10362.00000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>10362.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>55333589.07000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>416045529.13000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>164117930.96000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>159809956.96000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>795307006.12000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>2404911.66750000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Energy Services Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003801</mgmtInvSeriesId>
        <mgmtInvLei>549300D57O5QYF1NS042</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010591" sharesOutstandingTickerSymbol="RYVAX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010590" sharesOutstandingTickerSymbol="RYVIX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010593" sharesOutstandingTickerSymbol="RYVCX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010592" sharesOutstandingTickerSymbol="RYESX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>85950.76000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>492.02000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>5744.66000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>5657.54000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>6674.81000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>995.92000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Roth Capital Partners</brokerName>
            <brokerFileNo>8-32129</brokerFileNo>
            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>4967.36000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Leerink Partners LLC</brokerName>
            <brokerFileNo>8-48535</brokerFileNo>
            <brokerCrdNo>000039011</brokerCrdNo>
            <brokerLei>549300AAH7U76CEUBI94</brokerLei>
            <brokerStateCountry brokerState="US-MA" brokerCountry="US"/>
            <grossCommission>987.35000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>5885.23000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>30912.87000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2626389.82000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6878861.20000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2726116.10000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TENDER OFFER</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-TX" principalCountry="US"/>
            <principalTotalPurchaseSale>170286.70000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>12401653.82000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>7914612.31916600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="112900.00000000" daysCreditUsed="10"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Europe 1.25x Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003695</mgmtInvSeriesId>
        <mgmtInvLei>549300JYFUD05SONF364</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010347" sharesOutstandingTickerSymbol="RYAEX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010348" sharesOutstandingTickerSymbol="RYCEX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010346" sharesOutstandingTickerSymbol="RYEUX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>0.00029400</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.01424800</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.10982600</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.10993800</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>98002.94000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>5179.72000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>22569.13000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>24448.81000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>80.60000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>14201.65000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>61300.19000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>101859728.07000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>266079725.48000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>105513022.91000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>473452476.46000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>4697249.89416600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Leisure Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003812</mgmtInvSeriesId>
        <mgmtInvLei>5493003JDGD6V23RQC15</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010635" sharesOutstandingTickerSymbol="RYLAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010636" sharesOutstandingTickerSymbol="RYLSX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010637" sharesOutstandingTickerSymbol="RYLCX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010634" sharesOutstandingTickerSymbol="RYLIX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>100370.78000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>7380.54000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>486.66000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>600.64000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>895.09000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Roth Capital Partners</brokerName>
            <brokerFileNo>8-32129</brokerFileNo>
            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>442.62000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>1548.72000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2088.48000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>6062.21000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2387339.87000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6018467.83000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2294307.52000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>10700115.22000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>8878074.86750000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="35000.00000000" daysCreditUsed="7"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Financial Services Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003807</mgmtInvSeriesId>
        <mgmtInvLei>5493003M8ZYZUKN7QN08</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010617" sharesOutstandingTickerSymbol="RYFCX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010616" sharesOutstandingTickerSymbol="RYFNX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010615" sharesOutstandingTickerSymbol="RYFAX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010614" sharesOutstandingTickerSymbol="RYFIX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>57198.38000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>313.53000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>4076.89000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>3525.01000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>462.68000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>8048.78000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>903.86000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>17017.22000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6185900.94000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>15586047.66000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5966209.16000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>27738157.76000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>20620315.44333300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="246500.00000000" daysCreditUsed="4"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Dow Jones Industrial Average Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000051596</mgmtInvSeriesId>
        <mgmtInvLei>5493007SF2Y5YOUYC080</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000162318" sharesOutstandingTickerSymbol="RYDKX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000162317" sharesOutstandingTickerSymbol="RYDAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000162316" sharesOutstandingTickerSymbol="RYDHX"/>
        </sharesOutstandings>
        <fundTypes>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.00085100</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.01875500</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00077000</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00101900</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17e-1 (17 CFR 270.17e-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GOLDMAN SACHS &amp; CO. LLC</brokerDealerName>
            <brokerDealerFileNo>8-129</brokerDealerFileNo>
            <brokerDealerCrdNo>000000361</brokerDealerCrdNo>
            <brokerDealerLei>FOR8UP27PHTHYVLBNG30</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>101.86000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3107.86000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1977.05000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>62.70000000</grossCommission>
          </broker>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>261.79000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>5409.40000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>329835618.89000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>131886066.39000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>545636.16000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>159322575.27000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>87944486.76000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>24973.60000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7572460.70000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>717131817.77000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>23180596.72833300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>U.S. Government Money Market Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003657</mgmtInvSeriesId>
        <mgmtInvLei>549300T3SI4DAY1G2P25</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>1</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class MM" sharesOutstandingClassId="C000113321" sharesOutstandingTickerSymbol="RYFXX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Money Market Fund</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4736228350.08000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Academy Securities, Inc.</principalName>
            <principalFileNo>8-35173</principalFileNo>
            <principalCrdNo>000017433</principalCrdNo>
            <principalLei>2549000QX6RLQOZ2XC11</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>115742769.97000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MIZUHO SECURITIES USA LLC</principalName>
            <principalFileNo>8-37710</principalFileNo>
            <principalCrdNo>000019647</principalCrdNo>
            <principalLei>7TK5RJIZDFROZCA6XF66</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>126014912.05000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>52920575.82000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>DAIWA CAPITAL MARKETS AMERICA INC.</principalName>
            <principalFileNo>8-12242</principalFileNo>
            <principalCrdNo>000001576</principalCrdNo>
            <principalLei>M67H5PRC0NQKM73ZAS82</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>67708930.82000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>388554697.65000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4576568994.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>11566153864.41000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>319948056.34000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CastleOak Securities, LP</principalName>
            <principalFileNo>8-65786</principalFileNo>
            <principalCrdNo>000125334</principalCrdNo>
            <principalLei>549300MXL7C60HZ59S65</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>128941817.76000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>22198984279.87000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <dailyAvgNetAssets>263565419.67101300</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Telecommunications Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003799</mgmtInvSeriesId>
        <mgmtInvLei>549300N6G4LRE5IXJH81</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010582" sharesOutstandingTickerSymbol="RYMIX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010583" sharesOutstandingTickerSymbol="RYMAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010584" sharesOutstandingTickerSymbol="RYTLX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010585" sharesOutstandingTickerSymbol="RYCSX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>433098.63000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>8007.02000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>1369.14000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>8919.67000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>7458.89000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2932.03000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>48.00000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>20727.73000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>11681619.27000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TENDER OFFER</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-CA" principalCountry="US"/>
            <principalTotalPurchaseSale>273986.65000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4453867.12000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4648097.85000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>21057570.89000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>17012718.50250000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="26818.18000000" daysCreditUsed="11"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Emerging Markets Bond Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000041673</mgmtInvSeriesId>
        <mgmtInvLei>5493007HTK1ZMPR37V06</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000129379" sharesOutstandingTickerSymbol="RYFTX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000129380" sharesOutstandingTickerSymbol="RYGTX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000129378" sharesOutstandingTickerSymbol="RYIEX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>115.27000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>277.38000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>392.65000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>73616954.88000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>28041510.53000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>29146135.52000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6522138.69000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>137326739.62000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>561765.02833300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Health Care Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003808</mgmtInvSeriesId>
        <mgmtInvLei>549300Z2HV3IEO9VWZ52</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010620" sharesOutstandingTickerSymbol="RYHEX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010619" sharesOutstandingTickerSymbol="RYHAX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010618" sharesOutstandingTickerSymbol="RYHIX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010621" sharesOutstandingTickerSymbol="RYHCX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>65325.01000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>159.71000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>107.76000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>966.14000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>1609.46000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3379.02000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1609.87000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Roth Capital Partners</brokerName>
            <brokerFileNo>8-32129</brokerFileNo>
            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>2580.75000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>10253.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7185741.69000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7509434.36000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TENDER OFFER</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-CA" principalCountry="US"/>
            <principalTotalPurchaseSale>403075.70000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>18933761.17000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>34032012.92000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>24898446.40416600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="53500.00000000" daysCreditUsed="4"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Technology Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003809</mgmtInvSeriesId>
        <mgmtInvLei>549300H11WXTTBTOKY24</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010622" sharesOutstandingTickerSymbol="RYTIX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010624" sharesOutstandingTickerSymbol="RYTHX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010625" sharesOutstandingTickerSymbol="RYCHX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010623" sharesOutstandingTickerSymbol="RYTAX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>355132.84000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>763.63000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1851.62000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1100.64000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>6219.96000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1783.13000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>945.03000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>11900.38000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>18171052.84000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>18751622.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>47551598.23000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>84474273.07000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>56988659.92083300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="516000.00000000" daysCreditUsed="1"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Mid-Cap 1.5x Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003685</mgmtInvSeriesId>
        <mgmtInvLei>549300U40J1CHXDB9K79</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010312" sharesOutstandingTickerSymbol="RYAHX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010311" sharesOutstandingTickerSymbol="RYMDX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010313" sharesOutstandingTickerSymbol="RYDCX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.04800100</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.06329500</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00178400</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00179700</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>32162.81000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>209.43000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>75.09000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Sanford C. Bernstein &amp; Co., LLC</brokerName>
            <brokerFileNo>8-52942</brokerFileNo>
            <brokerCrdNo>000104474</brokerCrdNo>
            <brokerLei>549300I7JYZHT7D5CO04</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>0.19000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>48.67000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2405.61000000</grossCommission>
          </broker>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>156.95000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>0.14000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>2686.65000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>337186.72000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>124337298.42000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>7700238.72000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>107869319.63000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>148220.28000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>271987188.40000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>108472011.56000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TENDER OFFER</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-CA" principalCountry="US"/>
            <principalTotalPurchaseSale>105375.90000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>620956839.63000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>13992002.50000000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="44250.00000000" daysCreditUsed="4"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>High Yield Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000015881</mgmtInvSeriesId>
        <mgmtInvLei>9LP714THWJRO0RW4E321</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000043617" sharesOutstandingTickerSymbol="RYHGX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000043616" sharesOutstandingTickerSymbol="RYHHX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000043615" sharesOutstandingTickerSymbol="RYHDX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>23648.60000000</grossCommission>
          </broker>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>12557.49000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>36206.09000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>DAIWA CAPITAL MARKETS AMERICA INC.</principalName>
            <principalFileNo>8-12242</principalFileNo>
            <principalCrdNo>000001576</principalCrdNo>
            <principalLei>M67H5PRC0NQKM73ZAS82</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>37422371.11000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>543503891.63000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>33384656.93000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>94159299.97000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1093315434.29000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>44607150.77000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>448566271.89000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CastleOak Securities, LP</principalName>
            <principalFileNo>8-65786</principalFileNo>
            <principalCrdNo>000125334</principalCrdNo>
            <principalLei>549300MXL7C60HZ59S65</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>80580232.42000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>71128006.01000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Academy Securities, Inc.</principalName>
            <principalFileNo>8-35173</principalFileNo>
            <principalCrdNo>000017433</principalCrdNo>
            <principalLei>2549000QX6RLQOZ2XC11</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>27586072.28000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>2524876109.83000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>36047293.40666600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="409000.00000000" daysCreditUsed="1"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>S&amp;P MidCap 400 Pure Value Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003769</mgmtInvSeriesId>
        <mgmtInvLei>5493006HQXAXWTT0LT49</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010448" sharesOutstandingTickerSymbol="RYAVX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010449" sharesOutstandingTickerSymbol="RYMVX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010450" sharesOutstandingTickerSymbol="RYMMX"/>
        </sharesOutstandings>
        <fundTypes>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.00371300</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.01889600</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00195200</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00203400</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>37282.53000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>61.41000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>6642.94000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>82518.49000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Nomura Securities International, Inc.</brokerName>
            <brokerFileNo>8-15255</brokerFileNo>
            <brokerCrdNo>000004297</brokerCrdNo>
            <brokerLei>OXTKY6Q8X53C9ILVV871</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>20.59000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>6121.53000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>10493.34000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Sanford C. Bernstein &amp; Co., LLC</brokerName>
            <brokerFileNo>8-52942</brokerFileNo>
            <brokerCrdNo>000104474</brokerCrdNo>
            <brokerLei>549300I7JYZHT7D5CO04</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>0.39000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>32011.29000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>137808.57000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3566785.12000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3630237.65000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>9201137.42000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>16398160.19000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>6679236.29416600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="83250.00000000" daysCreditUsed="4"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Inverse High Yield Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000015882</mgmtInvSeriesId>
        <mgmtInvLei>SCQPAL0SXRZDT2DWGE91</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000043618" sharesOutstandingTickerSymbol="RYILX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000043619" sharesOutstandingTickerSymbol="RYIYX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000043620" sharesOutstandingTickerSymbol="RYIHX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3808.80000000</grossCommission>
          </broker>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1764.36000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>5573.16000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1989139.37000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>187948632.54000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>488750397.52000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>194109277.60000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>872797447.03000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>4763218.04166600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Japan 2x Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000018293</mgmtInvSeriesId>
        <mgmtInvLei>549300TYQ6P1QBF6GR37</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000050428" sharesOutstandingTickerSymbol="RYJSX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000050429" sharesOutstandingTickerSymbol="RYJTX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000050430" sharesOutstandingTickerSymbol="RYJHX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.14564700</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.15621000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.55437800</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.55429600</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2312.74000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>2312.74000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>58056657.59000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>61088222.86000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>147244815.37000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>266389695.82000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>1499876.87750000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>S&amp;P 500 Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000012221</mgmtInvSeriesId>
        <mgmtInvLei>549300B4HPBJ0JTHV043</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000033370" sharesOutstandingTickerSymbol="RYSPX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000033368" sharesOutstandingTickerSymbol="RYSOX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000033369" sharesOutstandingTickerSymbol="RYSYX"/>
        </sharesOutstandings>
        <fundTypes>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.00070200</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.01822900</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00071600</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00081400</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>36896.63000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>105.81000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1086.48000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>15830.37000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>54.11000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>6102.24000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>428.84000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Nomura Securities International, Inc.</brokerName>
            <brokerFileNo>8-15255</brokerFileNo>
            <brokerCrdNo>000004297</brokerCrdNo>
            <brokerLei>OXTKY6Q8X53C9ILVV871</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2641.41000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>26143.45000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>32979767.73000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CastleOak Securities, LP</principalName>
            <principalFileNo>8-65786</principalFileNo>
            <principalCrdNo>000125334</principalCrdNo>
            <principalLei>549300MXL7C60HZ59S65</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>57982957.41000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>DAIWA CAPITAL MARKETS AMERICA INC.</principalName>
            <principalFileNo>8-12242</principalFileNo>
            <principalCrdNo>000001576</principalCrdNo>
            <principalLei>M67H5PRC0NQKM73ZAS82</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>54955476.66000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1248377877.56000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>437329293.70000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNY MELLON CAPITAL MARKETS, LLC</principalName>
            <principalFileNo>8-35255</principalFileNo>
            <principalCrdNo>000017454</principalCrdNo>
            <principalLei>VJW2DOOHGDT6PR0ZRO63</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>19971900.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>47637957.48000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>585118530.19000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>489837904.22000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>115978965.44000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>3141125548.55000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>226055477.52083300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Russell 2000 1.5x Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003697</mgmtInvSeriesId>
        <mgmtInvLei>5493007KOHKZHLKCRY93</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010352" sharesOutstandingTickerSymbol="RYMKX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010354" sharesOutstandingTickerSymbol="RYCMX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010353" sharesOutstandingTickerSymbol="RYAKX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.05747200</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.07251200</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00216600</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00229200</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>41928.79000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>1281.91000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>99.92000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Sanford C. Bernstein &amp; Co., LLC</brokerName>
            <brokerFileNo>8-52942</brokerFileNo>
            <brokerCrdNo>000104474</brokerCrdNo>
            <brokerLei>549300I7JYZHT7D5CO04</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>0.40000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1.57000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>497.72000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>0.14000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>599.75000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>85600576.80000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TENDER OFFER</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-MI" principalCountry="US"/>
            <principalTotalPurchaseSale>110759.79000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>176502120.67000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>396470.75000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>296346.20000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>42839682.86000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>12090300.68000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>70087964.08000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>387924221.83000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>6773030.58416600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="163000.00000000" daysCreditUsed="2"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Weakening Dollar 2x Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003761</mgmtInvSeriesId>
        <mgmtInvLei>549300HVQE9YLGG0R688</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010434" sharesOutstandingTickerSymbol="RYWJX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010432" sharesOutstandingTickerSymbol="RYWBX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010433" sharesOutstandingTickerSymbol="RYWDX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>0.01991200</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>0.00072700</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.02759500</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.02754700</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3832.20000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>3832.20000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>176353907.08000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>69579649.25000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>67261145.78000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>34897040.82000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>348091742.93000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>1223711.74166600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>NASDAQ-100 Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003693</mgmtInvSeriesId>
        <mgmtInvLei>549300H90B18Q2ZKMZ39</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010338" sharesOutstandingTickerSymbol="RYOCX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010340" sharesOutstandingTickerSymbol="RYATX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010341" sharesOutstandingTickerSymbol="RYCOX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000149025" sharesOutstandingTickerSymbol="RYHOX"/>
        </sharesOutstandings>
        <fundTypes>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>0.00021400</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.01358700</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00080300</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00090900</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>2256927.76000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>35300.47000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2815.32000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>7931.52000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>39252.41000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>31178.55000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>81177.80000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2280282921.24000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1244461339.37</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>946366731.84000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>139885371.60000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>503540689.53000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>259401628.13000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>900809824.55000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Academy Securities, Inc.</principalName>
            <principalFileNo>8-35173</principalFileNo>
            <principalCrdNo>000017433</principalCrdNo>
            <principalLei>2549000QX6RLQOZ2XC11</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>95885397.91000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CastleOak Securities, LP</principalName>
            <principalFileNo>8-65786</principalFileNo>
            <principalCrdNo>000125334</principalCrdNo>
            <principalLei>549300MXL7C60HZ59S65</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>647871005.04000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MIZUHO SECURITIES USA LLC</principalName>
            <principalFileNo>8-37710</principalFileNo>
            <principalCrdNo>000019647</principalCrdNo>
            <principalLei>7TK5RJIZDFROZCA6XF66</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>189280744.08000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>7431226590.05</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>1840848674.10333000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Real Estate Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003773</mgmtInvSeriesId>
        <mgmtInvLei>549300IJUMVSC7CD5507</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010460" sharesOutstandingTickerSymbol="RYHRX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010461" sharesOutstandingTickerSymbol="RYREX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010462" sharesOutstandingTickerSymbol="RYCRX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>20022.16000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>240.64000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3435.04000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>228.01000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>1452.56000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>379.94000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>20.06000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>5515.61000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1375861.18000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3617832.62000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1427682.87000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TENDER OFFER</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-CO" principalCountry="US"/>
            <principalTotalPurchaseSale>52887.52000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>6474264.19000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>4614192.91666600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="22800.00000000" daysCreditUsed="15"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>S&amp;P 500 Pure Value Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003688</mgmtInvSeriesId>
        <mgmtInvLei>549300N1SWF7NBSBSH83</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010320" sharesOutstandingTickerSymbol="RYZAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010322" sharesOutstandingTickerSymbol="RYVVX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010321" sharesOutstandingTickerSymbol="RYLVX"/>
        </sharesOutstandings>
        <fundTypes>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.00013000</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.01707400</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00264800</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00275600</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>94694.15000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>260.86000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>149856.79000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>31230.75000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Roth Capital Partners</brokerName>
            <brokerFileNo>8-32129</brokerFileNo>
            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>1692.93000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>8997.58000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>8665.49000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>11815.74000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>212259.28000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6554580.93000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>16572452.29000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6395677.47000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TENDER OFFER</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-GA" principalCountry="US"/>
            <principalTotalPurchaseSale>154014.90000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>29676725.59000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>21151708.89250000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="68461.54000000" daysCreditUsed="13"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Inverse S&amp;P 500 Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003692</mgmtInvSeriesId>
        <mgmtInvLei>54930069SHUJKSI0T360</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010334" sharesOutstandingTickerSymbol="RYURX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000149024" sharesOutstandingTickerSymbol="RYUHX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010336" sharesOutstandingTickerSymbol="RYARX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010337" sharesOutstandingTickerSymbol="RYUCX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.07379200</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.08785000</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00422500</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00387900</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>484.85000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>484.85000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>695358594.80000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>384944541.10000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>35989953.32000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>347010610.52000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1513853083.13000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CastleOak Securities, LP</principalName>
            <principalFileNo>8-65786</principalFileNo>
            <principalCrdNo>000125334</principalCrdNo>
            <principalLei>549300MXL7C60HZ59S65</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>112961769.10000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>81369368.08000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>200090928.20000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>DAIWA CAPITAL MARKETS AMERICA INC.</principalName>
            <principalFileNo>8-12242</principalFileNo>
            <principalCrdNo>000001576</principalCrdNo>
            <principalLei>M67H5PRC0NQKM73ZAS82</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>13730014.22000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>675741085.66000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>4099124210.72000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>40477994.83583300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Monthly Rebalance NASDAQ-100 2x Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000047391</mgmtInvSeriesId>
        <mgmtInvLei>549300J4VS1JKGRG9J54</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000148764" sharesOutstandingTickerSymbol="RMQCX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000148762" sharesOutstandingTickerSymbol="RMQHX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000148763" sharesOutstandingTickerSymbol="RMQAX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.01816300</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.03122200</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.01483700</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.01486600</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>499085.73000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>10388.59000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>34838.25000000</grossCommission>
          </broker>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>36637.21000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>61451.29000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>405188.82000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>538115.57000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5119536908.83000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CastleOak Securities, LP</principalName>
            <principalFileNo>8-65786</principalFileNo>
            <principalCrdNo>000125334</principalCrdNo>
            <principalLei>549300MXL7C60HZ59S65</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>302785480.61000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MIZUHO SECURITIES USA LLC</principalName>
            <principalFileNo>8-37710</principalFileNo>
            <principalCrdNo>000019647</principalCrdNo>
            <principalLei>7TK5RJIZDFROZCA6XF66</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>269179263.66000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>13261824845.57000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2018281316.38000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>553882622.15000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3506261422.12000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>2115978460.83000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>DAIWA CAPITAL MARKETS AMERICA INC.</principalName>
            <principalFileNo>8-12242</principalFileNo>
            <principalCrdNo>000001576</principalCrdNo>
            <principalLei>M67H5PRC0NQKM73ZAS82</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>209885000.55000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>664973745.56000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>28450340061.20000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>645568738.54083300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="3066000.00000000" daysCreditUsed="1"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Energy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003806</mgmtInvSeriesId>
        <mgmtInvLei>5493009JTKG0O3B0IE75</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010613" sharesOutstandingTickerSymbol="RYECX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010610" sharesOutstandingTickerSymbol="RYEIX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010611" sharesOutstandingTickerSymbol="RYEAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010612" sharesOutstandingTickerSymbol="RYENX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>490811.22000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>4122.75000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>5682.25000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>10405.26000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>11518.76000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Leerink Partners LLC</brokerName>
            <brokerFileNo>8-48535</brokerFileNo>
            <brokerCrdNo>000039011</brokerCrdNo>
            <brokerLei>549300AAH7U76CEUBI94</brokerLei>
            <brokerStateCountry brokerState="US-MA" brokerCountry="US"/>
            <grossCommission>6211.60000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>10101.82000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>5106.72000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Roth Capital Partners</brokerName>
            <brokerFileNo>8-32129</brokerFileNo>
            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>15786.16000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>64812.57000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6589030.05000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6439020.19000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>16760211.07000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>29788261.31000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>24669116.16000000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="66111.11000000" daysCreditUsed="9"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Precious Metals Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003798</mgmtInvSeriesId>
        <mgmtInvLei>549300HYX4F1PFGDBK11</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010581" sharesOutstandingTickerSymbol="RYZCX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010580" sharesOutstandingTickerSymbol="RYMNX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010579" sharesOutstandingTickerSymbol="RYMPX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010578" sharesOutstandingTickerSymbol="RYPMX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>2899506.53000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>8324.92000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>Nomura Securities International, Inc.</brokerName>
            <brokerFileNo>8-15255</brokerFileNo>
            <brokerCrdNo>000004297</brokerCrdNo>
            <brokerLei>OXTKY6Q8X53C9ILVV871</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>18.35000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Leerink Partners LLC</brokerName>
            <brokerFileNo>8-48535</brokerFileNo>
            <brokerCrdNo>000039011</brokerCrdNo>
            <brokerLei>549300AAH7U76CEUBI94</brokerLei>
            <brokerStateCountry brokerState="US-MA" brokerCountry="US"/>
            <grossCommission>69945.46000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>150976.94000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>53017.22000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Roth Capital Partners</brokerName>
            <brokerFileNo>8-32129</brokerFileNo>
            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>59016.36000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>14364.40000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>106525.01000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>941.48000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>454805.22000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>24974917.06000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>65869250.53000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>26167643.36000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>117011810.95000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>81722512.93250000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="34500.00000000" daysCreditUsed="2"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Retailing Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003813</mgmtInvSeriesId>
        <mgmtInvLei>549300BHV8T6NRYI4517</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010640" sharesOutstandingTickerSymbol="RYRTX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010639" sharesOutstandingTickerSymbol="RYRAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010641" sharesOutstandingTickerSymbol="RYRCX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010638" sharesOutstandingTickerSymbol="RYRIX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>37118.20000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>359.50000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2281.36000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>904.69000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Roth Capital Partners</brokerName>
            <brokerFileNo>8-32129</brokerFileNo>
            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>266.52000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>1728.33000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>877.40000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Leerink Partners LLC</brokerName>
            <brokerFileNo>8-48535</brokerFileNo>
            <brokerCrdNo>000039011</brokerCrdNo>
            <brokerLei>549300AAH7U76CEUBI94</brokerLei>
            <brokerStateCountry brokerState="US-MA" brokerCountry="US"/>
            <grossCommission>212.92000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>6271.22000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7535876.45000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2872429.64000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2971985.40000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>13380291.49000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>9245419.92833300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="27750.00000000" daysCreditUsed="4"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>S&amp;P 500 Pure Growth Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003689</mgmtInvSeriesId>
        <mgmtInvLei>549300TFPQCTQW8FX819</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010323" sharesOutstandingTickerSymbol="RYAWX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010324" sharesOutstandingTickerSymbol="RYLGX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010325" sharesOutstandingTickerSymbol="RYGRX"/>
        </sharesOutstandings>
        <fundTypes>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.00096600</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.01735300</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00124500</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00136500</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>33641.47000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>127.83000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>16204.51000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>35919.02000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3693.36000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>4941.09000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>25423.34000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>86181.32000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>23695779.57000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>62342314.95000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>24622438.56000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>110660533.08000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>72142426.70000000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="171000.00000000" daysCreditUsed="1"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Inverse Mid-Cap Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003771</mgmtInvSeriesId>
        <mgmtInvLei>54930037B8QM4B0GQX38</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010454" sharesOutstandingTickerSymbol="RYMHX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010455" sharesOutstandingTickerSymbol="RYAGX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010456" sharesOutstandingTickerSymbol="RYCLX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>0.13515500</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>0.11651800</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00421900</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00378100</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>24687.65000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3709998.24000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>672406.30000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>16178482.42000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>16537798.22000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>41996797.01000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>89702.80000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>79209872.64000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>361122.77250000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Consumer Products Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003811</mgmtInvSeriesId>
        <mgmtInvLei>549300LM3MYPTR24ET11</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010632" sharesOutstandingTickerSymbol="RYPDX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010631" sharesOutstandingTickerSymbol="RYCAX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010630" sharesOutstandingTickerSymbol="RYCIX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010633" sharesOutstandingTickerSymbol="RYCPX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>205151.57000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>866.54000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1310.49000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>1069.68000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>5330.02000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2774.20000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3156.28000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>13640.67000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>29742182.74000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>11370679.41000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>11653858.66000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>52766720.81000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>50614064.37250000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="180555.56000000" daysCreditUsed="9"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Russell 2000 Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000012222</mgmtInvSeriesId>
        <mgmtInvLei>549300LUD3TXC44YIW26</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000033372" sharesOutstandingTickerSymbol="RYROX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000033371" sharesOutstandingTickerSymbol="RYRRX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000033373" sharesOutstandingTickerSymbol="RYRHX"/>
        </sharesOutstandings>
        <fundTypes>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.00003600</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.01626100</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00310100</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00316200</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>855558.55000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>5995.28000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1370.00000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2.74000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Sanford C. Bernstein &amp; Co., LLC</brokerName>
            <brokerFileNo>8-52942</brokerFileNo>
            <brokerCrdNo>000104474</brokerCrdNo>
            <brokerLei>549300I7JYZHT7D5CO04</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1.39000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>0.70000000</grossCommission>
          </broker>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1200.95000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>2575.78000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>141579415.01000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>339168925.12000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Academy Securities, Inc.</principalName>
            <principalFileNo>8-35173</principalFileNo>
            <principalCrdNo>000017433</principalCrdNo>
            <principalLei>2549000QX6RLQOZ2XC11</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>24996684.72000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MIZUHO SECURITIES USA LLC</principalName>
            <principalFileNo>8-37710</principalFileNo>
            <principalCrdNo>000019647</principalCrdNo>
            <principalLei>7TK5RJIZDFROZCA6XF66</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7998831.11000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>377751613.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>862160642.87000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>17130956.95000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Citigroup Global Markets Inc.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>11997834.72000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>37476143.82000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TD SECURITIES (USA) LLC</principalName>
            <principalFileNo>8-36747</principalFileNo>
            <principalCrdNo>000018476</principalCrdNo>
            <principalLei>SUVUFHICNZMP2WKHG940</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>12998335.00000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>1841983128.27000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>19923879.93250000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Basic Materials Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003810</mgmtInvSeriesId>
        <mgmtInvLei>549300YPLNQ2043PJL53</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010626" sharesOutstandingTickerSymbol="RYBIX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010627" sharesOutstandingTickerSymbol="RYBAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010629" sharesOutstandingTickerSymbol="RYBCX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010628" sharesOutstandingTickerSymbol="RYBMX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>475206.53000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>9901.57000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>49.88000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>2774.99000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2320.55000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Leerink Partners LLC</brokerName>
            <brokerFileNo>8-48535</brokerFileNo>
            <brokerCrdNo>000039011</brokerCrdNo>
            <brokerLei>549300AAH7U76CEUBI94</brokerLei>
            <brokerStateCountry brokerState="US-MA" brokerCountry="US"/>
            <grossCommission>958.22000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2763.38000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>8867.02000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>6682723.48000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TENDER OFFER</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-GA" principalCountry="US"/>
            <principalTotalPurchaseSale>692926.77000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7012851.58000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>17616529.54000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>32005031.37000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>26724033.93000000</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="198583.33000000" daysCreditUsed="12"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>S&amp;P SmallCap 600 Pure Value Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003760</mgmtInvSeriesId>
        <mgmtInvLei>549300MMYTIE2GTC4P77</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010430" sharesOutstandingTickerSymbol="RYSVX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010431" sharesOutstandingTickerSymbol="RYYCX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000010429" sharesOutstandingTickerSymbol="RYAZX"/>
        </sharesOutstandings>
        <fundTypes>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.00271500</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.01707400</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00175800</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00189900</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <fundLendSecurities didFundLendSecurities="Y">
          <isFundLiquidated>N</isFundLiquidated>
          <isFundAdverselyImpacted>N</isFundAdverselyImpacted>
        </fundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagers>
          <paymentToAgentManagerType>Cash collateral reinvestment fee</paymentToAgentManagerType>
          <paymentToAgentManagerType>Revenue sharing split</paymentToAgentManagerType>
        </paymentToAgentManagers>
        <avgPortfolioSecuritiesValue>134528.80000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>2273.12000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 17a-7 (17 CFR 270.17a-7)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>BTIG, LLC</brokerName>
            <brokerFileNo>8-65473</brokerFileNo>
            <brokerCrdNo>000122225</brokerCrdNo>
            <brokerLei>549300GTG9PL6WO3EC51</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>104997.87000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAYS CAPITAL INC.</brokerName>
            <brokerFileNo>8-41342</brokerFileNo>
            <brokerCrdNo>000019714</brokerCrdNo>
            <brokerLei>AC28XWWI3WIBK2824319</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2272.41000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BOFA SECURITIES, INC.</brokerName>
            <brokerFileNo>8-69787</brokerFileNo>
            <brokerCrdNo>000283942</brokerCrdNo>
            <brokerLei>549300HN4UKV1E2R3U73</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1116.38000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Instinet, LLC</brokerName>
            <brokerFileNo>8-23669</brokerFileNo>
            <brokerCrdNo>000007897</brokerCrdNo>
            <brokerLei>549300MGMN3RKMU8FT57</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>105833.11000000</grossCommission>
          </broker>
          <broker>
            <brokerName>CANTOR FITZGERALD &amp; CO.</brokerName>
            <brokerFileNo>8-201</brokerFileNo>
            <brokerCrdNo>000000134</brokerCrdNo>
            <brokerLei>5493004J7H4GCPG6OB62</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>2339.09000000</grossCommission>
          </broker>
          <broker>
            <brokerName>Roth Capital Partners</brokerName>
            <brokerFileNo>8-32129</brokerFileNo>
            <brokerCrdNo>000015407</brokerCrdNo>
            <brokerLei>549300FMF3TPT1HFRF48</brokerLei>
            <brokerStateCountry brokerState="US-CA" brokerCountry="US"/>
            <grossCommission>0.10000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>216558.96000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>12920708.03000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TENDER OFFER</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-AL" principalCountry="US"/>
            <principalTotalPurchaseSale>367787.17000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5041549.84000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>5119154.81000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>23449199.85000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>15469035.07833300</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
              </sharedCreditType>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="47600.00000000" daysCreditUsed="5"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Inverse NASDAQ-100 Strategy Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000003694</mgmtInvSeriesId>
        <mgmtInvLei>5493001NDQKSZDPMJP48</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>4</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000149026" sharesOutstandingTickerSymbol="RYALX"/>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000010344" sharesOutstandingTickerSymbol="RYAPX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000010345" sharesOutstandingTickerSymbol="RYACX"/>
          <sharesOutstanding sharesOutstandingClassName="Investor" sharesOutstandingClassId="C000010342" sharesOutstandingTickerSymbol="RYAIX"/>
        </sharesOutstandings>
        <fundTypes>
          <fundType>Inverse of a benchmark</fundType>
          <indexFundInfo fundType="Index Fund">
            <isIndexFundAffiliated>N</isIndexFundAffiliated>
            <isIndexFundExclusive>N</isIndexFundExclusive>
            <indexFundReturnDiffBeforeExpense>-0.06396200</indexFundReturnDiffBeforeExpense>
            <indexFundReturnDiffAfterExpense>-0.07878200</indexFundReturnDiffAfterExpense>
            <indexFundReturnDailyStdevBeforeExpense>0.00544800</indexFundReturnDailyStdevBeforeExpense>
            <indexFundReturnDailyStdevAfterExpense>0.00517200</indexFundReturnDailyStdevAfterExpense>
          </indexFundInfo>
        </fundTypes>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>Y</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <securityLendings>
          <securityLending>
            <securitiesAgentName>U.S. Bank, N.A.</securitiesAgentName>
            <securitiesAgentLei>6BYL5QZYBDK8S7L73M02</securitiesAgentLei>
            <isSecuritiesAgentAffiliated>N</isSecuritiesAgentAffiliated>
            <securityAgentIdemnity isSecurityAgentIdemnity="Y">
              <idemnityProviders>
                <idemnityProvider idemnityProviderName="N/A" idemnityProviderLei="N/A"/>
              </idemnityProviders>
              <didIndemnificationRights>N</didIndemnificationRights>
            </securityAgentIdemnity>
          </securityLending>
        </securityLendings>
        <collateralManagers>
          <collateralManager collateralManagerName="U.S. Bancorp Asset Management, Inc." collateralManagerLei="8KUMV9EIJ75IBFMLFD23" isCollateralManagerAffliliated="Y" isCollateralManagerAffliliatedWithFund="N"/>
        </collateralManagers>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4 (17 CFR 270.18f-4)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 18f-4(c)(2) (17 CFR 270.18f-4(c)(2))</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Security Investors, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-8008</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000105477</investmentAdviserCrdNo>
            <investmentAdviserLei>549300R47VF4XGNEC751</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-NY" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>MUFG Investor Services (US), LLC</transferAgentName>
            <transferAgentFileNo>084-05475</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-MD" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Services</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>Bloomberg</pricingServiceName>
            <pricingServiceLei>549300B56MD0ZC402L06</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-NY" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank N.A.</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>MUFG Investor Services (US), LLC</shareholderServiceAgentName>
            <shareholderServiceAgentLei>084-05475</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-MD" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>MUFG Investor Services (US), LLC</adminName>
            <adminLei>084-05475</adminLei>
            <idNumberDesc>SEC File Number</idNumberDesc>
            <adminStateCountry adminState="US-MD" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Sammons Financial Network LLC</brokerDealerName>
            <brokerDealerFileNo>8-68905</brokerDealerFileNo>
            <brokerDealerCrdNo>000158538</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IA" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Investor Services, LLC</brokerDealerName>
            <brokerDealerFileNo>8-44742</brokerDealerFileNo>
            <brokerDealerCrdNo>000030096</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Funds Distributors, LLC</brokerDealerName>
            <brokerDealerFileNo>8-48842</brokerDealerFileNo>
            <brokerDealerCrdNo>000039805</brokerDealerCrdNo>
            <brokerDealerLei>549300YLHACOJHH3DN20</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-IL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>GUGGENHEIM SECURITIES, LLC</brokerDealerName>
            <brokerDealerFileNo>8-49107</brokerDealerFileNo>
            <brokerDealerCrdNo>000040638</brokerDealerCrdNo>
            <brokerDealerLei>5493005G25VHYWLYJU59</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Japan, Ltd.</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>JP</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Partners Middle East Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>AE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities Europe Limited</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>IE</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Guggenheim Securities International Ltd</brokerDealerName>
            <brokerDealerFileNo>N/A</brokerDealerFileNo>
            <brokerDealerCrdNo>N/A</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerCountry>GB</brokerDealerCountry>
            <brokerDealerCommission>0.00000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO. LLC</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>184.54000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>184.54000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>DAIWA CAPITAL MARKETS AMERICA INC.</principalName>
            <principalFileNo>8-12242</principalFileNo>
            <principalCrdNo>000001576</principalCrdNo>
            <principalLei>M67H5PRC0NQKM73ZAS82</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>8257500.03000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Nomura Securities International, Inc.</principalName>
            <principalFileNo>8-15255</principalFileNo>
            <principalCrdNo>000004297</principalCrdNo>
            <principalLei>OXTKY6Q8X53C9ILVV871</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>27874518.45000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO. LLC</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>93188182.11000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Capital Markets Corp., New York Branch</principalName>
            <principalFileNo>8-34344</principalFileNo>
            <principalCrdNo>000016686</principalCrdNo>
            <principalLei>RUC0QBLBRPRCU4W1NE59</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>15761850.72000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CastleOak Securities, LP</principalName>
            <principalFileNo>8-65786</principalFileNo>
            <principalCrdNo>000125334</principalCrdNo>
            <principalLei>549300MXL7C60HZ59S65</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>24993152.64000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BNP Paribas</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>R0MUWSFPU8MPRO8K5P83</principalLei>
            <principalCountry>FR</principalCountry>
            <principalTotalPurchaseSale>69345605.61000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BOFA SECURITIES, INC.</principalName>
            <principalFileNo>8-69787</principalFileNo>
            <principalCrdNo>000283942</principalCrdNo>
            <principalLei>549300HN4UKV1E2R3U73</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>517312804.65000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>1304167813.09000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>MIZUHO SECURITIES USA LLC</principalName>
            <principalFileNo>8-37710</principalFileNo>
            <principalCrdNo>000019647</principalCrdNo>
            <principalLei>7TK5RJIZDFROZCA6XF66</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>7994406.25000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAYS CAPITAL INC.</principalName>
            <principalFileNo>8-41342</principalFileNo>
            <principalCrdNo>000019714</principalCrdNo>
            <principalLei>AC28XWWI3WIBK2824319</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>520778045.02000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>2603906118.40000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>16816550.91416600</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>0.00000000</dailyAvgNetAssets>
        <lineOfCredit hasLineOfCredit="Y">
          <lineOfCreditDetails>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Uncommitted</isCreditLineCommitted>
              <lineOfCreditSize>200000000.00000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. Bank, N.A."/>
              </lineOfCreditInstitutions>
              <sharedCreditType creditType="Shared">
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Technology Fund" secFileNo="811-07584"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-08821"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-07584"/>
                <creditUser fundName="Biotechnology Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-08821"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-08821"/>
                <creditUser fundName="Multi-Hedge Strategies Fund" secFileNo="811-08821"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Weakening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-07584"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-08821"/>
                <creditUser fundName="Banking Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Japan 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Russell 2000 1.5x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-07584"/>
                <creditUser fundName="U.S. Government Money Market Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse NASDAQ-100 Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Commodities Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-08821"/>
                <creditUser fundName="Basic Materials Fund" secFileNo="811-08821"/>
                <creditUser fundName="Strengthening Dollar 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P SmallCap 600 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P MidCap 400 Pure Value Fund" secFileNo="811-08821"/>
                <creditUser fundName="Nova Fund" secFileNo="811-07584"/>
                <creditUser fundName="Electronics Fund" secFileNo="811-08821"/>
                <creditUser fundName="Financial Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Consumer Products Fund" secFileNo="811-07584"/>
                <creditUser fundName="Banking Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-08821"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow Jones Industrial Average Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-08821"/>
                <creditUser fundName="Leisure Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse S&amp;P 500 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Precious Metals Fund" secFileNo="811-07584"/>
                <creditUser fundName="Managed Futures Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-07584"/>
                <creditUser fundName="Real Estate Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Mid-Cap Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Government Long Bond 1.2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Emerging Markets Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="S&amp;P 500 Fund" secFileNo="811-07584"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Transportation Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="High Yield Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Energy Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Utilities Fund" secFileNo="811-07584"/>
                <creditUser fundName="Mid-Cap 1.5x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Europe 1.25x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Global Managed Futures Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-08821"/>
                <creditUser fundName="S&amp;P 500 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="S&amp;P 500 Pure Growth Fund" secFileNo="811-07584"/>
                <creditUser fundName="Emerging Markets 2x Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Inverse Government Long Bond Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Russell 2000 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Technology Fund" secFileNo="811-08821"/>
                <creditUser fundName="Inverse NASDAQ-100 2x Strategy Fund" secFileNo="811-09525"/>
                <creditUser fundName="Inverse Russell 2000 Strategy Fund" secFileNo="811-07584"/>
                <creditUser fundName="Energy Services Fund" secFileNo="811-08821"/>
                <creditUser fundName="Retailing Fund" secFileNo="811-08821"/>
                <creditUser fundName="Health Care Fund" secFileNo="811-07584"/>
                <creditUser fundName="Dow 2x Strategy Fund" secFileNo="811-08821"/>
                <creditUser fundName="Internet Fund" secFileNo="811-07584"/>
                <creditUser fundName="Telecommunications Fund" secFileNo="811-07584"/>
                <creditUser fundName="NASDAQ-100 Fund" secFileNo="811-08821"/>
                <creditUser fundName="Monthly Rebalance NASDAQ-100 2x Strategy Fund" secFileNo="811-07584"/>
              </sharedCreditType>
              <isCreditLineUsed>N</isCreditLineUsed>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <attachmentsTab>
      <isLegalProceedings>false</isLegalProceedings>
      <isProvisionFinancialSupport>false</isProvisionFinancialSupport>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isChangeAccPrinciples>false</isChangeAccPrinciples>
      <isInfoRequiredEO>false</isInfoRequiredEO>
      <isOtherInfoRequired>false</isOtherInfoRequired>
    </attachmentsTab>
    <signature registrantSignedName="Rydex Series Funds" signedDate="2025-06-13" signature="James Howley" title="CFO"/>
  </formData>
</edgarSubmission>
