Banking Fund
Data updated: 2026-08-21
C000010427 — Banking Fund. United States Multi-Cap / All-Cap Blend / Core Financials Equity · $6.75M AUM. Holdings, fees, performance and SEC filings.
C000010427 Fund Overview
Banking Fund is a US mutual fund managed by Rydex Variable Trust, categorised as United States Multi-Cap / All-Cap Blend / Core Financials Equity. 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: United States Multi-Cap / All-Cap Blend / Core Financials Equity
- Assets under management: $6.75M
- 1-year return: 27.6%
- SEC CIK: 0001064046
- SEC series ID: S000003758
- Share class ID: C000010427
C000010427 Investment Objective and Strategy
Banking Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Rydex Variable Trust.
Investment objective
The Banking Fund (the Fund) seeks to provide capital appreciation by investing in companies that are involved in the banking sector, including commercial banks (and their holding companies) and savings and loan institutions (Banking Companies).
Principal investment strategy
Under normal circumstances, the Fund invests substantially all (at least 80%) of its net assets in equity securities of Banking Companies that are traded in the United States and in derivatives, which primarily consist of futures contracts and options on securities, futures contracts, and stock indices. The Advisor employs a proprietary quantitative and qualitative methodology to identify Banking Companies in which to invest. The methodology utilizes screens based on price, liquidity, and tradability. The securities are then weighted using a proprietary modified capitalization weighting methodology. The portfolio may be further adjusted to comply with regulatory investment limitations or as determined appropriate by the Advisor. The Fund may invest to a significant extent in the securities of Banking Companies that have small to mid-sized capitalizations.
Banking Companies may be engaged in a variety of activities, including accepting deposits and making commercial and consumer loans, and include state-chartered banks, savings and loan institutions, banks that are members of the Federal Reserve System, companies that are commonly considered banks or to be engaged in banking activities, and companies that may be significantly involved in multiple sectors, including the banking sector. The Fund also may purchase American Depositary Receipts (ADRs) to gain exposure to foreign Banking Companies and U.S. government securities. Under U.S. Securities and Exchange Commission regulations, the Fund may not invest more than 5% of its total assets in the equity securities of any company that derives more than 15% of its revenues from brokerage or investment management activities.
Investments in derivative instruments, such as futures and options, 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.
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. As of March 31, 2026, the Fund has significant exposure to the Financials Sector, as that 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. Also, as of March 31, 2026, the Fund's investments are concentrated (i.e., more than 25% of its assets) in securities issued by companies in the Banks Industry, a separate industry within the Financials Sector.
C000010427 Holdings
Top 10 holdings of Banking Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Jp Morgan Chase & Company | 4.02% |
| Bank Of America Corp. | 3.94% |
| Citigroup, Inc. | 3.89% |
| Wells Fargo & Company | 3.81% |
| Capital One Financial Corp. | 3.68% |
| Pnc Financial Services Group, Inc. (the) | 3.19% |
| US Bancorp | 3.13% |
| Bank Of New York Mellon Corp. (the) | 3.12% |
| Nu Holdings Ltd. | 2.78% |
| Truist Financial Corp. | 2.43% |
C000010427 Portfolio Allocation
Asset-class allocation of Banking Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.3% |
| Cash & Equivalents | 0.8% |
C000010427 Performance
Total returns for C000010427 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 10.6% |
| 1 year | 27.6% |
| 3 years (annualised) | 27.4% |
| 5 years (annualised) | 8.8% |
C000010427 Risk Information
Risk metrics for C000010427, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 15.1%
C000010427 Costs and Fees
C000010427 costs about $178 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.78%
- Gross expense ratio: 1.83%
- Portfolio turnover: 78%
- Brokerage commissions: 3.60 bps of average net assets (SEC N-CEN)
C000010427 Cashflows
Over the 12 months to 2026-06, Banking Fund had net outflows of $1.31M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $119.72K |
| 2026-05 | −$45.97K |
| 2026-04 | −$16.60K |
| 2026-03 | −$129.41K |
| 2026-02 | −$760.14K |
| 2026-01 | −$276.11K |
C000010427 Debt Constituents
No individual debt constituents are reported in Banking Fund's latest SEC N-PORT filing.
C000010427 Prospectus and SEC Filings
Official Banking 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
Related Funds
Other United States Multi-Cap / All-Cap Blend / Core Financials Equity funds tracked on ABC INVEST:
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.