Mid-Cap 1.5x Strategy Fund
Data updated: 2026-08-21
C000010396 — Mid-Cap 1.5x Strategy Fund. Leveraged · $4.11M AUM · 1.81% expense ratio · 19.7% 1-yr return. Holdings, fees, performance and SEC filings.
C000010396 Fund Overview
Mid-Cap 1.5x Strategy Fund is a US mutual fund managed by Rydex Variable Trust, categorised as Leveraged. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Rydex Variable Trust
- Category: Leveraged
- Assets under management: $4.11M
- 1-year return: 19.7%
- SEC CIK: 0001064046
- SEC series ID: S000003727
- Share class ID: C000010396
C000010396 Investment Objective and Strategy
Mid-Cap 1.5x Strategy Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Rydex Variable Trust.
Investment objective
The Fund seeks to provide investment results that correlate, before fees and expenses, to the performance of a specific benchmark for mid-cap securities on a daily basis. The Funds current benchmark is 150% of the performance of the S&P MidCap 400 Index (the underlying index). The Fund does not seek to achieve its investment objective over a period of time greater than one day.
Principal investment strategy
"The Fund employs as its investment strategy a program of investing in the common stock of companies that are generally within the capitalization range of the underlying index and derivative instruments, which primarily consist of equity index swaps and swaps on exchange-traded funds (""ETFs""), futures contracts, and options on securities, futures contracts, and stock indices. While the Fund may write (sell) and purchase swaps, it expects primarily to purchase swaps. Swap agreements and futures and options contracts, if used properly, may enable the Fund to meet its objective by increasing the Funds exposure to the securities included in the underlying index or to securities whose performance is highly correlated to that of the Fund's benchmark. The Advisor attempts to consistently apply leverage to increase the Funds exposure to 150% of the underlying index, and expects to rebalance the Fund's holdings daily to maintain such exposure.
As a result, the Funds use of derivatives and the leveraged investment exposure created by such use are expected to be significant. Certain of the Funds derivatives investments may be traded in the over-the-counter (OTC) market. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in securities of companies included in the underlying index and derivatives and other instruments whose performance is expected to correspond to that of the Fund's benchmark. Investments in derivative instruments, such as futures, options and swap agreements, have the economic effect of creating financial leverage in the Funds portfolio because such investments may give rise to losses that exceed the amount the Fund has invested in those instruments.
Financial leverage will magnify, sometimes significantly, the Funds exposure to any increase or decrease in prices associated with a particular reference asset resulting in increased volatility in the value of the Funds portfolio. The value of the Funds portfolio is likely to experience greater volatility over short-term periods. While such financial leverage has the potential to produce greater gains, it also may result in greater losses, which in some cases may cause the Fund to liquidate other portfolio investments at a loss to comply with limits on leverage imposed by the Investment Company Act of 1940, satisfy margin or collateral requirements, or meet redemption requests. The S&P MidCap 400 Index is a modified capitalization-weighted index composed of 400 mid-cap stocks chosen by S&P for market size, liquidity, and industry group representation.
The S&P MidCap 400 Index covers approximately 7% of the U.S. equities market and generally represents mid-capitalization companies with capitalizations ranging from $ 1.7 billion to $27.7 billion as of March 31, 2026. Certain of the companies included in the S&P MidCap 400 Index may be structured as real estate investment trusts (REITs). To the extent the Funds underlying index is concentrated in a particular industry the Fund will necessarily be concentrated in that industry. The industries in which the underlying index components, and thus the Fund's investments, may be concentrated will vary as the composition of the underlying index changes over time. While the Funds sector exposure may vary over time, as of March 31, 2026, the Fund has significant exposure to the Consumer Discretionary Sector, Financials Sector, Health Care Sector, Industrials Sector, Information Technology Sector, and Real Estate Sector, as each sector is defined by the Global Industry Classification Standard, a widely recognized industry classification methodology developed by MSCI, Inc.
and Standard & Poor's Financial Services LLC. On a day-to-day basis, the Fund may hold U.S. government securities or cash equivalents. The Fund also may enter into repurchase agreements with counterparties that are deemed to present acceptable credit risks. In an effort to ensure that the Fund is fully invested on a day-to-day basis, the Fund may conduct any necessary trading activity at or just prior to the close of the U.S. financial markets. The Fund is non-diversified and, therefore, may invest a greater percentage of its assets in a particular issuer in comparison to a diversified fund. The Fund may invest a portion of its assets, and at times, a substantial portion of its assets, in other short-term fixed-income investment companies advised by the Advisor, or an affiliate of the Advisor, for various purposes, including for liquidity management purposes (e.g., to increase yield on liquid investments used to collateralize derivatives positions) or when such investment companies present a more cost-effective investment option than direct investments in the underlying securities.
Investments in these investment companies will significantly increase the portfolios exposure to certain other asset categories, including: (i) a broad range of high yield, high risk debt securities rated below the top four long-term rating categories by a nationally recognized statistical rating organization or, if unrated, determined by the Advisor to be of comparable quality (also known as junk bonds); (ii) securities issued by the U.S. government or its agencies and instrumentalities; (iii) collateralized loan obligations (CLOs), other asset-backed securities (including mortgage-backed securities) and similarly structured debt investments; and (iv) other short-term fixed income securities. Such investments will expose the Fund to the risks of these asset categories and increases or decreases in the value of these investments may cause the Fund to deviate from its investment objective."
C000010396 Holdings
Top 10 holdings of Mid-Cap 1.5x Strategy Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| J.p. Morgan Securities LLC | 6.01% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | 6.01% |
| Guggenheim Funds Trust | 3.91% |
| Dreyfus Treasury Obligations Cash Management | 2.01% |
| Guggenheim Funds Trust | 1.97% |
| Bnp Paribas Securities Corp. | 1.39% |
| Twilio, Inc. | 0.63% |
| Carpenter Technology Corp. | 0.62% |
| Mks, Inc. | 0.61% |
| Curtiss-Wright Corp. | 0.57% |
C000010396 Portfolio Allocation
Asset-class allocation of Mid-Cap 1.5x Strategy Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 79.5% |
| Cash & Equivalents | 14.0% |
| Derivatives | 1.8% |
C000010396 Performance
Total returns for C000010396 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 2.4% |
| 1 year | 19.7% |
| 3 years (annualised) | 12.2% |
| 5 years (annualised) | 5.0% |
C000010396 Risk Information
Risk metrics for C000010396, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 16.3%
C000010396 Costs and Fees
C000010396 costs about $181 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.81%
- Gross expense ratio: 1.92%
- Portfolio turnover: 20%
- Brokerage commissions: 0.53 bps of average net assets (SEC N-CEN)
C000010396 Cashflows
Over the 12 months to 2026-03, Mid-Cap 1.5x Strategy Fund had net outflows of $745.73K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-03 | −$263.78K |
| 2026-02 | −$22.01K |
| 2026-01 | −$90.58K |
| 2025-12 | −$10.17K |
| 2025-11 | −$7.08K |
| 2025-10 | −$74.37K |
C000010396 Debt Constituents
No individual debt constituents are reported in Mid-Cap 1.5x Strategy Fund's latest SEC N-PORT filing.
C000010396 Prospectus and SEC Filings
Official Mid-Cap 1.5x Strategy Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-28
- Prospectus (485BPOS) — filed 2025-04-29
- Prospectus (485BPOS) — filed 2024-04-29
- Portfolio holdings (N-PORT) — filed 2026-08-21
- Portfolio holdings (N-PORT) — filed 2026-06-01
- Portfolio holdings (N-PORT) — filed 2026-03-02
- Annual census (N-CEN) — filed 2026-03-13
- Annual census (N-CEN) — filed 2025-03-14
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Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.