Bear Market

03-30-2004

Rydex Series Funds 9601 Blackwell Road,Suite 500 Rockville, MD 20850 USA
800-820-0888
http://www.rydex-sgi-fp.com

Ryan A. Harder

03-13-2008

The investment seeks to provide investment results that match the inverse of the performance of S&P MidCap 400 index. The fund employs as its investment strategy a program of engaging in short sales of securities included in the underlying index and investing to a significant extent in derivative instruments, which primarily consist of equity index swaps, futures contracts, and options on securities, futures contracts, and stock indices. It invests least 80% of net assets in financial instruments with economic characteristics that should perform opposite to the securities of companies included in the underlying index. The fund is nondiversified.

3.83M

$2,500

N/A

S&P Mid 400 Emini Dec12