Rydex Commodities Fund Class C (RYMJX)

Investment Objective The investment seeks to provide investment results that correlate- before fees and expenses- to the performance of the S&P GSCI-® Commodity Index. The fund seeks exposure to the performance of the commodities markets. It will invest in exchange-traded products- including investment companies and commodity pools- that provide exposure to the commodities markets and in commodity-linked derivative instruments- which primarily consist of swap agreements- commodity options- and futures and options on futures. The fund also may invest up to 25% of its total assets in a wholly-owned and controlled Cayman Islands subsidiary. It is non-diversified.