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Investment Objective

Seeks to provide a high level of income consistent with preservation of capital.


Guggenheim Limited Duration Fund

Steven Brown, CFA

Managing Director and Portfolio Manager

Investment Management Team

Anne Walsh
Senior Managing Director and Chief Investment Officer, Fixed Income

Steven Brown
Managing Director and Portfolio Manager

Adam Bloch
Director and Portfolio Manager

A Short-Term Bond Fund with a More Flexible Multi-Sector Approach

Many short-term bond funds are narrowly focused and may miss opportunities to increase yield and diversification through investing in a broader universe of fixed-income securities. Guggenheim Limited Duration Fund provides a more flexible multi-sector approach within the short-term bond category, which may help navigate the current low-rate environment and hedge against interest-rate risk.

Discover Guggenheim Limited Duration Fund

  • Mitigate Interest Rate Risk: Shorter-duration fixed income securities are generally less sensitive to rising interest rates than longer-duration securities. Consequently, the Fund’s limited duration may benefit investors seeking preservation of capital during periods of rising rates.
  • Yield and Diversification: The Fund invests in a broad universe of fixed income securities in an attempt to maximize yield and diversification. Therefore, the fund may be of interest to investors seeking attractive risk-adjusted returns through a short-term bond fund allocation..
  • Guggenheim’s Fixed Income Expertise: Guggenheim Investments has a distinguished history of serving institutional and high-net worth investors. The Fund offers investors access to Guggenheim’s recognized investment expertise.

Average Annual Total Returns


Limited Duration Chart

Guggenheim Limited Duration Fund (GILHX)

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Bloomberg Barclays U.S. Aggregate Bond 1-3 Year Index

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Sector Allocation Comparison - Guggenheim Limited Duration Fund vs Benchmark

Click and Drag pip_handle.jpg to change time periods and view respective data


As of December 2016

Correlation: A measurement between -1 and 1, which indicates the linear relationship between two variables. If there is no relationship between two variables, the correlation coefficient is 0. If there is a perfect relationship, the correlation is 1. And if there is a perfect inverse relationship, the correlation is -1.

Duration is a measure of interest-rate sensitivity of a fixed-income security based on an interest rate change of 1% or 100 basis points.

Weighted average effective duration of the securities comprising the fund portfolio or the index. Effective duration takes into account any embedded options (i.e., a put or a call) and reflects the expected change in future cash flows caused by the options in response to changing interest rates.

Yield to Maturity (YTM) is the total return anticipated on a bond if the bond is held until the end of its lifetime.

Sector Allocation Breakdown Over Time

Hover mouse over chart for additional detail.

Cash was set to zero for periods where the ending cash balance was negative due to traded but not settled trades.

As of 9/30/2018
Inception Date: 12/16/13
Gross Expense Ratio: 0.63%
Net Expense Ratio: 0.53%


Chart illustrates values of a hypothetical $10,000 investment made on the fund's inception date, plotted monthly, to the most recent year-end, with dividends and capital gains reinvested.

Annualized Volatility: is measured by standard deviation, a statistical measure of the historical volatility of an investment, usually computed using 36 monthly returns.

Standard Deviation: A statistical measure of the historical volatility of an investment, usually computed using 36 monthly returns.

Yield to Maturity (YTM) is the total return anticipated on a bond if the bond is held until the end of its lifetime.

Performance displayed represents past performance which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than original cost. Current performance may be lower or higher than the performance data quoted. Returns for performance under one year are cumulative, not annualized. For standard performance and performance current to the most recent month end, click here.

The Bloomberg Barclays U.S. Aggregate Bond 1-3 Year Index measures the performance of publicly issued investment grade corporate, U.S. Treasury and government agency securities with remaining maturities of one to three years.

Index performance is for illustration purposes only and is not meant to represent any particular fund. Returns do not reflect any management fees, transaction costs or expenses. The index is unmanaged and not available for direct investment.

Past performance is no guarantee of future results.

*As of 9.30.2018, the Institutional Class was rated, based on its risk-adjusted returns, 5 stars Overall and 5 stars for 3 years among of 474 and 474 Short-Term Bond funds, respectively.

The Morningstar Rating for funds, or “star rating”, is calculated for managed products with at least a three-year history and does not include the effect of sales charges. Exchange-traded funds and open-end mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating is derived from a weighted average of the performance figures associated with its 3-year. 5-year, and 10-year (if applicable) Morningstar Rating metrics.

©2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary of Morningstar and /or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of its information. Past performance is no guarantee of future results.

The Funds may not be suitable for all investors. Investments in fixed-income securities are subject to the possibility that interest rates could rise, causing the value of the Funds’ securities and share price to decline. Fixed-income securities with longer durations are subject to more volatility than those with shorter durations. High yield, below investment grade, and unrated debt securities are subject to greater volatility and risk of default than investment grade bonds and may be less liquid. Investors in asset-backed securities, including residential mortgage-backed securities, commercial mortgage-backed securities and other structured finance investments, generally receive payments that are part interest and part return of principal, which may vary based on the rate the loans are repaid. Some asset-backed securities, including mortgage-backed securities, may have structures that make their reaction to interest rates and other factors difficult to predict, causing their prices to be volatile; and they are subject to interest rate, credit, liquidity, and valuation risks. Loan investments are often below investment grade or unrated and subject to special types of risks, including credit, interest rate, counterparty, liquidity, and prepayment risk. The Funds’ use of leverage, through borrowings or instruments such as derivatives, may cause the Funds to be more volatile and riskier than if they had not been leveraged. Please see the Funds’ prospectuses for more information on these and other risks.

The Advisor has contractually agreed to waive fees and/or reimburse fund expenses until February 1, 2020 to limit the ordinary expenses of the fund. Read the prospectus for more information regarding fees and expenses.

©2019 Guggenheim Investments. All Rights Reserved.

• Not FDIC Insured • No Bank Guarantee • May Lose Value

Read the fund’s prospectus and summary prospectus (if available) carefully before investing. It contains the fund’s investment objectives, risks, charges, expenses and other information, which should be considered carefully before investing. To obtain a prospectus and summary prospectus (if available), click here or call 800.820.0888.

Investing involves risk, including the possible loss of principal.

The referenced funds are distributed by Guggenheim Funds Distributors, LLC. Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC ("Guggenheim"), which includes Guggenheim Partners Investment Management ("GPIM") and Security Investors, LLC ("SI"), the investment advisors to the referenced funds. Guggenheim Funds Distributors, LLC, is affiliated with Guggenheim, SI, and GPIM.

This website is directed to and intended for use by citizens or residents of the United States of America only. The material provided on this website is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers, and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific situation. Investing involves risk, including the possible loss of principal.