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Investment Objective

Seeks to provide total return, comprised of current income and capital appreciation

GIOAX | GIOCX | GIOIX | GIOPX


Guggenheim Macro Opportunities Fund

Steven Brown

Managing Director and Portfolio Manager

Investment Management Team

Scott Minerd
Global Chief Investment Officer Managing Partner

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

Kevin Gundersen
Senior Managing Director and Portfolio Manager

Steven Brown
Managing Director and Portfolio Manager

Adam Bloch
Director and Portfolio Manager


Positioning for Rising Rates

Guggenheim Macro Opportunities Fund (GIOIX) offers an attractive alternative to traditional fixed-income funds with a proven ability to manage interest rate risk, delivering positive returns during the three distinct rising rate periods since the fund’s inception.

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An Unconstrained Fixed Income Strategy

To manage interest rate risk and generate attractive returns in the current yield environment, investors may need to take a more unconstrained approach to fixed income investing.

Discover Guggenheim Macro Opportunities Fund:

  • Access to Guggenheim’s unique capabilities that combine in-depth macro research, intensive fundamental research and legal analysis, and rigorous risk management.
  • Unconstrained to a benchmark, the Fund has the flexibility to invest across a broad array of fixed income securities. The strategy may opportunistically allocate to other asset classes to potentially enhance return and/or mitigate risk.
  • Offers exposure to the investment team's highest-conviction ideas in the current market environment through an unconstrained approach. The strategy opportunistically allocates to other asset classes to potentially enhance return and/or mitigate risk.
 

Average Annual Total Returns

9.30.2018

Macro Opportunities Chart

As of 9/30/2018
Inception Date: 11/30/11
Gross Expense Ratio: 1.12%
Net Expense Ratio: 0.98%

Guggenheim Macro Opportunities Fund (GIOIX)

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Total Return0.00%
Annualized
Volatility0.00%
Avg. Yield
to Maturity0.00%

Bloomberg Barclays U.S. Aggregate Bond Index

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Total Return0.00%
Annualized
Volatility0.00%
Avg. Yield
to Maturity0.00%

ICE Bank of America Merrill Lynch 3-Month U.S. T-Bill Index

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Total Return0.00%
Annualized
Volatility0.00%
Avg. Yield
to Maturity0.00%
Click and Drag Mouse to Zoom

Sector Allocation Comparison - Guggenheim Macro Opportunities Fund vs Bloomberg Barclays U.S. Aggregate Bond Index

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

DURATION
(Years)
0.00
Correlation

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.

 



Guggenheim Macro Opportunities Fund Named a ‘Best 40 Act Fund

US Hedge Funds Performance Awards

October 26, 2017

Nontraditional bond mutual fund recognized for both quantitative and qualitative excellence at 2017 HFM U.S. Hedge Fund Performance Awards.

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Fund Earns Fourth Consecutive U.S. Lipper Fund Award.

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2016 Lipper Fund Award

Best Alternative Credit Focus Fund

Macro Opportunities (GIOIX) 
5-year period among 111 funds

2016 Lipper Fund Award

Best Alternative Credit Focus Fund

Macro Opportunities (GIOIX) 
3-year period among 155 funds
5-year period among 114 funds

2016 Lipper Fund Award

Best Alternative Credit Focus Fund

Macro Opportunities (GIOIX) 
3-year period among 129 funds

2015 Lipper Fund Award

Best Alternative Credit Focus Fund

Macro Opportunities (GIOIX) 
3-year period among 114 funds


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 ICE Bank of America Merrill Lynch 3-Month U.S. Treasury Bill Index is an unmanaged market index of U.S. Treasury securities maturing in 90 days.

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.

Source: Lipper, Inc. The Best Alternative Credit Focus Fund award is granted to the fund in the Alternative Credit Focus category with the highest Lipper Leader score for Consistent Return over the 3-year and 5-year periods as of 11.30 of the prior year. Lipper awards are granted annually to the funds in each Lipper classification that achieve the highest score for Consistent Return, a measure of funds’ historical risk-adjusted returns, relative to peers.

From Thomson Reuters Lipper Awards, © 2018 Thomson Reuters. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited.

Lipper, a wholly owned subsidiary of Thomson Reuters, is a leading global provider of mutual fund information and analysis to fund companies, financial intermediaries and media organizations.

HFM U.S. Hedge Fund Performance Awards Winners of the HFM U.S. Hedge Fund Performance Awards were selected by a panel of judges and announced on October 19, 2017. The judges, who are investors and investment consultants, reviewed both quantitative and qualitative factors, including the pedigree of the managers, structural criteria and reputation with investors, and the last 12 months of returns and risk-adjusted performance ending June 20, 2017.

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 management fees of underlying affiliated funds through February 1, 2019 and to waive fees and/or reimburse expenses to limit the ordinary expenses of the fund through February 1, 2020. Read the prospectus for more information regarding fees and expenses.

©2018 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.