Guggenheim High Yield Fund 

Under normal market conditions, this fund primarily allocates a significant portion—a minimum of 80%—of its total investment capital (which includes its net assets along with any borrowed funds used for investment purposes) to a wide spectrum of high-yielding, inherently riskier debt instruments. These typically consist of bonds rated outside the top four long-term credit categories by recognized statistical rating agencies. Furthermore, the portfolio may include unrated debt that Security Investors, LLC, known as Guggenheim Investments (the "Investment Manager"), assesses to be of comparable credit quality. These types of investments are frequently referred to as "junk bonds" due to their speculative nature.