Fund Evaluator:
Rydex S&P 500 C (RYSYX)
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Best Performing in Large Blend Over the Last Year
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Fund Details
Rydex S&P 500 C Overview
Rydex S&P 500 C (RYSYX) is a passively managed U.S. Equity Large Blend fund. Rydex Funds launched the fund in 2006.
The investment seeks to provide investment results that match, before fees and expenses, the performance of the S&P 500® Index on a daily basis. The fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in securities of companies in the underlying index and derivatives and other instruments whose performance is expected to correspond to that of the underlying index. The index is a capitalization-weighted index composed of 500 common stocks. The fund is non-diversified.
About Rydex S&P 500 C (RYSYX)
There are 4 members of the management team with an average tenure of 8.01 years: Brendan Cain (2022), Spencer Crane (2022), Scott Miller (2022), Michael Byrum (2006). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Rydex S&P 500 C has 512 securities in its portfolio. The top 10 holdings constitute 37.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Rydex S&P 500 C is part of the Equity global asset class and is within the U.S. Equity fund group. Rydex S&P 500 C has 0.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.0%. There is 0.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Rydex S&P 500 C has 1.3% of the portfolio in cash.
Assets Under Management
The fund has $4 million in total assets, which is below the $6 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
RYSYX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Rydex S&P 500 C expense ratio is high compared to funds in the Large Blend category. Rydex S&P 500 C has an expense ratio of 2.36%, which is 191% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Rydex S&P 500 C has a portfolio turnover rate of 143%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.
Recently, in the month of June 2026, Rydex S&P 500 C returned -1.1%, which earned it a grade of F, as the Large Blend category had an average return of -0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Rydex S&P 500 C has a trailing yield of 0.00%, which is below the 0.56% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Rydex S&P 500 C Grades
Year to date, the fund has returned 8.9%, 0.1 percentage points worse than the category, which translates into a grade of C. The fund has returned 19.4% over the past year (grade of C), 17.7% over the past three years (grade of D) and 10.7% per year over the past five years (grade of D) and 12.7% per year over the past 10 years (grade of F).
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RYSYX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| RYSYX Return (NAV) | -1.1% | 14.4% | 19.4% | 17.7% | 10.7% | 12.7% |
| RYSYX Grade | F | C | C | D | D | F |
| +/- Category | -0.9% | 0.6% | -0.0% | -0.7% | -0.9% | -1.3% |
| Large Blend Avg | -0.2% | 13.8% | 19.5% | 18.5% | 11.6% | 14.1% |
| RYSYX Tax Cost Ratio | na | na | 1.3% | 0.7% | 0.6% | 1.1% |
RYSYX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RYSYX Return (NAV) | 8.9% | 15.1% | 22.1% | 23.2% | -20.1% | 25.7% | 15.4% | 28.2% | -6.7% | 19.0% | 9.2% |
| RYSYX Grade | C | D | D | D | F | D | D | D | D | F | D |
| +/- Category | -0.1% | -0.8% | -0.1% | -0.5% | -2.8% | -0.8% | -2.1% | -1.6% | -0.8% | -2.3% | -1.0% |
| Large Blend Avg | 9.0% | 15.9% | 22.1% | 23.7% | -17.3% | 26.5% | 17.5% | 29.8% | -5.9% | 21.3% | 10.2% |
| Risk Measures | |
| Standard Deviation: | 13.0% |
| Total Risk Index: | 1.07 - Above Average |
| Category Risk Index: | 0.98 - Below Average |
| Category Risk Grade: | B (33% Rank) |
| Beta: | 1.00 |
| R-Squared: | 100% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $155 Mil |
| Fund Total Assets: | $ 4 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 143% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 20.1 years | |||
| Average Tenure: 8.0 years | |||
| Managers (Year): Byrum Michael (2006), Cain Brendan (2022), Crane Spencer (2022), Miller Scott (2022) | |||
Portfolio Composition (as of 1/31/26)
| # of Holdings: | 512 |
| % in Top 10 Holdings: | 37.1% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.5% |
Portfolio Allocation |
|
| Domestic Stock: | 98.0% |
| Foreign Stock: | 0.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 1.3% |
Purchase Information
| Fund Family: | Rydex Funds |
| Phone Number: | 800-820-0888 |
| Website: | www.rydex-sgi.com |
| Status: | Open |
| Inception Date: | May 31, 2006 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 2.36% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.81% |
| Share Class: | Rydex S&P 500 H |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
