Guggenheim Risk Managed Real Estate Fund (GURIX)

Tom Youn RMRE video

Tom Youn, Portfolio Manager, describes the fund’s use of dynamic exposure allocation to invest across full real estate cycles.

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Morningstar Overall Star Rating and 3-Year Ranking1  as of 12.31.2017

Based on risk-adjusted returns out of 228 Real Estate funds.

Top 5th Percentile

Institutional class ranked 8 out of 228 Real Estate funds based on total return.

GURIX provides a unique approach to investing in Real Estate Investment Trusts (REITs) by:

  • Capturing the Benefits of REIT Investing: The potential for attractive returns, a balance of income and capital appreciation, and the potential as an inflation hedge.
  • Managing the Challenges of REIT Investing: Potentially lowers portfolio correlation to equities while reducing volatility and drawdown risks relative to long-only REIT investments.
  • A Single Solution with Three Alpha2 Levers: Long Only Strategy, Market Neutral (long/short) Strategy, and Dynamic Exposure Allocation (modulating market exposure between the two strategies based on market outlook).
Download Risk Managed Real Estate Fund Kit
  • GURIX Fact Sheet
  • REIT Industry Update
  • A Practical Guide to Implementing Alternatives

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For financial professional use only. Do not distribute to the public.

Past performance does not guarantee future returns.

Investing involves risk, including the possible loss of principal.

¹ Overall Morningstar Ratings are based on risk-adjusted returns and Morningstar Rankings are based on average annual total return. The Institutional class for the Risk Managed Real Estate Fund was rated, based on its risk-adjusted returns, 5 stars for the Overall and 3-year periods among 228 and 228 Real Estate funds, respectively. The Institutional Class was ranked 23 out of 257 (10th percentile) for the 1-year period and 8 out of 228 (5th percentile) for the 3-year period.

² Alpha is a measure of the difference between a fund's actual returns and its expected performance, given its level of risk as measured by beta (represents the systematic risk of a portfolio and measures its sensitivity to a benchmark).

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 three-, five-, and 10-year (if applicable) Morningstar Rating metrics.

Morningstar absolute and percentile ranks are based on average annual total return relative to all funds in the same Morningstar category, which includes both mutual funds and ETFs, and do not include the effect of sales charges. Absolute ranks are assigned in descending order for each fund in the category, with 1 being the top performing fund. Funds with the same performance figure are assigned the same absolute rank. Percentile ranks range from 1 (top 1%) to 100 (least favorable), with no minimum number of funds per category. For example, for a category containing three funds, the ranks would be 1, 50, and 100.

© 2018 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.

Risk Considerations This fund may not be suitable for all investors. Investing involves risk, including the possible loss of principal. There are no assurances that any fund will achieve its objective and/or strategy. The fund's investments in real estate securities subject the fund to the same risks as direct investments in real estate, which is particularly sensitive to economic downturns. The fund's use of derivatives such as futures, options, and swap agreements may expose the fund to additional risks that it would not be subject to if it invested directly in the securities underlying those derivatives When market conditions are deemed appropriate, the fund will leverage to the full extent permitted by its investment policies and restrictions and applicable law. Leveraging will exaggerate the effect on net asset value of any increase or decrease in the market value of the fund's portfolio. The more the fund invests in leveraged instruments, the more the leverage will magnify any gains or losses on those investments. The fund's use of short selling involves increased risk and costs. The fund risks paying more for a security than it received from its sale. The fund's investments in other investment vehicles subject the fund to those risks and expenses affecting the investment vehicle. The fund's investments in foreign securities carry additional risks when compared to U.S. securities, due to the impact of diplomatic, political, or economic developments in the country in question (investments in emerging markets securities are generally subject to an even greater level of risks). The fund may invest in derivative instruments, which may be more volatile and less liquid, increasing the risk of loss when compared to traditional securities. Certain of the derivative instruments are also subject to the risks of counterparty default and adverse tax treatment. Investing in sector funds is more volatile than investing in broadly diversified funds, as there is a greater risk due to the concentration of the funds' holdings in issuers of the same or similar offerings. This fund is considered non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund. As a result, changes in the market value of a single security could cause greater fluctuations in the value of fund shares than would occur in a more diversified fund. Short selling involves increased risks and costs. You risk paying more for a security than you received from its sale. This strategy may not be suitable for all investors. The fund is subject to active trading risks that may increase volatility and impact its ability to achieve its investment objective. You may have a gain or loss when you sell your shares. It is important to note that the fund is not guaranteed by the U.S. government. Please read the prospectus for more detailed information regarding these and other risks.

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. Obtain a prospectus and summary prospectus (if available) at

The referenced fund is distributed by Guggenheim Funds Distributors, LLC. Guggenheim Investments represents the investment management businesses of Guggenheim Partners, LLC, which includes Guggenheim Partners Investment Management the investment advisor to the referenced fund. Guggenheim Funds Distributors, LLC, is affiliated with Guggenheim 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.