UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-21261
Rydex ETF Trust
(Exact name of registrant as specified in charter)
9601 Blackwell Road, Suite 500, Rockville, Maryland 20850
(Address of principal executive offices) (Zip code)
Carl Verboncoeur
Rydex ETF Trust
9601 Blackwell Road, Suite 500
Rockville, Maryland 20850
(Name and address of agent for service)
Registrant's telephone number, including area code: 1-301-296-5100
Date of fiscal year end: October 31, 2007
Date of reporting period: July 31, 2007
Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (Sections 239.24 and 274.5
of this chapter), to file reports with the Commission, not later than 60 days
after the close of the first and third fiscal quarters, pursuant to rule 30b1-5
under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may
use the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-Q
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street,
NW, Washington, DC 20549-0609. The OMB has reviewed this collection of
information under the clearance requirements of 44 U.S.C. Section 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
Attached hereto.
1
RYDEX S&P EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
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COMMON STOCKS 99.6%
AEROSPACE & DEFENSE 2.4%
Boeing Co. ..................................... 51,069 $5,282,067
General Dynamics Corp. ......................... 62,584 4,916,599
Goodrich Corp. ................................. 86,404 5,435,675
Honeywell International, Inc. .................. 86,268 4,961,273
L-3 Communications Holdings, Inc. .............. 51,309 5,005,706
Lockheed Martin Corp. .......................... 51,906 5,111,703
Northrop Grumman Corp. ......................... 65,300 4,969,330
Precision Castparts Corp. ...................... 42,237 5,789,003
Raytheon Co. ................................... 89,367 4,947,357
Rockwell Collins, Inc. ......................... 70,453 4,840,121
United Technologies Corp. ...................... 70,335 5,132,345
--------------
TOTAL AEROSPACE & DEFENSE 56,391,179
--------------
AIR FREIGHT & LOGISTICS 0.6%
C.H. Robinson Worldwide, Inc. .................. 92,560 4,503,044
FedEx Corp. .................................... 45,280 5,014,307
United Parcel Service, Inc. -- Class B.......... 68,151 5,160,394
--------------
TOTAL AIR FREIGHT & LOGISTICS 14,677,745
--------------
AIRLINES 0.2%
Southwest Airlines Co. ......................... 345,658 5,413,004
--------------
TOTAL AIRLINES 5,413,004
--------------
AUTO COMPONENTS 0.4%
Goodyear Tire & Rubber Co.*..................... 142,891 4,103,830
Johnson Controls, Inc. ......................... 44,495 5,034,609
--------------
TOTAL AUTO COMPONENTS 9,138,439
--------------
AUTOMOBILES 0.6%
Ford Motor Co.*................................. 580,696 4,941,723
General Motors Corp. ........................... 147,292 4,772,261
Harley-Davidson, Inc. .......................... 82,000 4,700,240
--------------
TOTAL AUTOMOBILES 14,414,224
--------------
BEVERAGES 1.6%
Anheuser-Busch Cos., Inc. ...................... 95,258 4,645,733
Brown-Forman Corp. -- Class B................... 69,395 4,610,604
Coca-Cola Co.................................... 97,354 5,073,117
Coca-Cola Enterprises, Inc. .................... 221,951 5,029,409
Constellation Brands, Inc. -- Class A*.......... 210,310 4,612,098
Molson Coors Brewing Co. -- Class B............. 54,834 4,876,936
Pepsi Bottling Group, Inc. ..................... 148,293 4,961,884
PepsiCo, Inc. .................................. 74,852 4,911,788
--------------
TOTAL BEVERAGES 38,721,569
--------------
BIOTECHNOLOGY 1.0%
Amgen, Inc.*.................................... 85,850 4,613,579
Biogen Idec, Inc.*.............................. 98,550 5,572,017
Celgene Corp.*.................................. 83,352 5,047,797
Genzyme Corp.*.................................. 75,673 4,772,696
Gilead Sciences, Inc.*.......................... 123,588 4,601,181
--------------
TOTAL BIOTECHNOLOGY 24,607,270
--------------
BUILDING PRODUCTS 0.4%
American Standard Cos., Inc. ................... 84,383 4,560,901
Masco Corp. .................................... 171,144 4,656,828
--------------
TOTAL BUILDING PRODUCTS 9,217,729
--------------
CAPITAL MARKETS 3.2%
American Capital Strategies Ltd. ............... 105,030 3,987,989
Ameriprise Financial, Inc. ..................... 76,785 4,627,832
Bank of New York Mellon Corp. .................. 118,444 5,039,792
|
See Notes to Financial Statements.
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COMMON STOCKS (CONTINUED)
Bear Stearns Cos., Inc. ........................ 33,481 $4,058,567
Charles Schwab Corp. ........................... 232,080 4,671,770
E*Trade Financial Corp.*........................ 205,634 3,808,342
Federated Investors, Inc. -- Class B............ 128,753 4,636,396
Franklin Resources, Inc. ....................... 38,072 4,849,231
Goldman Sachs Group, Inc. ...................... 22,204 4,181,901
Janus Capital Group, Inc. ...................... 180,315 5,420,269
Legg Mason, Inc. ............................... 50,562 4,550,580
Lehman Brothers Holdings, Inc. ................. 63,602 3,943,324
Merrill Lynch & Co., Inc. ...................... 55,513 4,119,065
Morgan Stanley.................................. 56,766 3,625,644
Northern Trust Corp. ........................... 77,428 4,836,153
State Street Corp. ............................. 72,790 4,879,114
T. Rowe Price Group, Inc. ...................... 95,264 4,966,112
--------------
TOTAL CAPITAL MARKETS 76,202,081
--------------
CHEMICALS 2.8%
Air Products & Chemicals, Inc. ................. 61,558 5,316,765
Ashland, Inc. .................................. 80,441 4,911,727
Dow Chemical Co................................. 112,036 4,871,325
Du Pont (E.I.) de Nemours & Co. ................ 97,783 4,569,400
Eastman Chemical Co. ........................... 77,844 5,357,224
Ecolab, Inc. ................................... 115,134 4,848,293
Hercules, Inc.*................................. 260,146 5,400,631
International Flavors & Fragrances, Inc. ....... 96,805 4,850,899
Monsanto Co. ................................... 76,641 4,939,512
PPG Industries, Inc. ........................... 66,991 5,109,404
Praxair, Inc. .................................. 70,097 5,370,832
Rohm & Haas Co. ................................ 92,637 5,235,843
Sigma-Aldrich Corp. ............................ 117,773 5,337,472
--------------
TOTAL CHEMICALS 66,119,327
--------------
COMMERCIAL BANKS 3.6%
BB&T Corp. ..................................... 120,584 4,512,253
Comerica, Inc. ................................. 81,306 4,281,574
Commerce Bancorp, Inc. ......................... 150,188 5,023,789
Compass Bancshares, Inc. ....................... 72,879 5,049,057
Fifth Third Bancorp............................. 117,951 4,351,212
First Horizon National Corp. ................... 130,025 4,124,393
Huntington Bancshares, Inc. .................... 225,284 4,325,453
KeyCorp......................................... 140,178 4,862,775
M&T Bank Corp. ................................. 46,333 4,924,735
Marshall & Ilsley Corp. ........................ 103,822 4,278,505
National City Corp. ............................ 148,816 4,373,702
PNC Financial Services Group, Inc. ............. 68,151 4,542,264
Regions Financial Corp. ........................ 147,170 4,425,402
SunTrust Banks, Inc. ........................... 56,353 4,412,440
Synovus Financial Corp. ........................ 157,793 4,411,892
U.S. Bancorp.................................... 148,275 4,440,836
Wachovia Corp. ................................. 93,594 4,418,573
Wells Fargo & Co. .............................. 139,728 4,718,614
Zions Bancorp................................... 62,465 4,656,766
--------------
TOTAL COMMERCIAL BANKS 86,134,235
--------------
COMMERCIAL SERVICES & SUPPLIES 1.8%
Allied Waste Industries, Inc.*.................. 365,654 4,705,967
Avery Dennison Corp. ........................... 75,678 4,642,088
Cintas Corp. ................................... 125,891 4,602,575
Equifax, Inc. .................................. 113,845 4,606,169
Monster Worldwide, Inc.*........................ 112,561 4,377,497
Pitney Bowes, Inc. ............................. 109,771 5,060,443
R.R. Donnelley & Sons Co. ...................... 116,123 4,907,358
|
See Notes to Financial Statements.
3
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COMMON STOCKS (CONTINUED)
Robert Half International, Inc. ................ 142,142 $4,831,407
Waste Management, Inc. ......................... 128,425 4,884,003
--------------
TOTAL COMMERCIAL SERVICES & SUPPLIES 42,617,507
--------------
COMMUNICATIONS EQUIPMENT 2.0%
Avaya, Inc.*.................................... 294,644 4,873,412
Ciena Corp.*.................................... 145,682 5,321,763
Cisco Systems, Inc.*............................ 187,327 5,415,624
Corning, Inc.*.................................. 191,465 4,564,526
JDS Uniphase Corp.*............................. 366,549 5,252,647
Juniper Networks, Inc.*......................... 199,584 5,979,537
Motorola, Inc. ................................. 276,344 4,695,084
QUALCOMM, Inc. ................................. 118,377 4,930,402
Tellabs, Inc.*.................................. 466,904 5,299,360
--------------
TOTAL COMMUNICATIONS EQUIPMENT 46,332,355
--------------
COMPUTERS & PERIPHERALS 2.3%
Apple, Inc.*.................................... 40,494 5,335,489
Dell, Inc.*..................................... 181,411 5,074,066
EMC Corp.*...................................... 292,689 5,417,673
Hewlett-Packard Co. ............................ 110,323 5,078,168
International Business Machines Corp. .......... 48,604 5,378,032
Lexmark International, Inc. -- Class A*......... 98,673 3,901,530
NCR Corp.*...................................... 95,480 4,985,966
Network Appliance, Inc.*........................ 160,314 4,543,299
QLogic Corp.*................................... 296,441 3,939,701
SanDisk Corp.*.................................. 111,592 5,984,679
Sun Microsystems, Inc.*......................... 996,950 5,084,445
--------------
TOTAL COMPUTERS & PERIPHERALS 54,723,048
--------------
CONSTRUCTION & ENGINEERING 0.2%
Fluor Corp. .................................... 46,470 5,367,750
--------------
TOTAL CONSTRUCTION & ENGINEERING 5,367,750
--------------
CONSTRUCTION MATERIALS 0.2%
Vulcan Materials Co. ........................... 41,878 4,008,562
--------------
TOTAL CONSTRUCTION MATERIALS 4,008,562
--------------
CONSUMER FINANCE 0.7%
American Express Co. ........................... 79,717 4,666,633
Capital One Financial Corp. .................... 62,395 4,415,070
Discover Financial Services*.................... 168,410 3,881,851
SLM Corp. ...................................... 88,661 4,359,461
--------------
TOTAL CONSUMER FINANCE 17,323,015
--------------
CONTAINERS & PACKAGING 1.0%
Ball Corp. ..................................... 92,130 4,723,505
Bemis Co., Inc. ................................ 151,373 4,460,963
Pactiv Corp.*................................... 155,995 4,931,002
Sealed Air Corp. ............................... 160,125 4,363,406
Temple-Inland, Inc. ............................ 80,417 4,674,640
--------------
TOTAL CONTAINERS & PACKAGING 23,153,516
--------------
DISTRIBUTORS 0.2%
Genuine Parts Co. .............................. 100,862 4,799,014
--------------
TOTAL DISTRIBUTORS 4,799,014
--------------
DIVERSIFIED CONSUMER SERVICES 0.5%
Apollo Group, Inc. -- Class A*.................. 103,409 6,112,506
H&R Block, Inc. ................................ 217,527 4,339,664
--------------
TOTAL DIVERSIFIED CONSUMER SERVICES 10,452,170
--------------
DIVERSIFIED FINANCIAL SERVICES 1.1%
Bank of America Corp. .......................... 100,834 4,781,548
CIT Group, Inc. ................................ 86,524 3,563,058
Citigroup, Inc. ................................ 93,624 4,360,070
CME Group, Inc. ................................ 9,065 5,008,413
JPMorgan Chase & Co. ........................... 99,619 4,384,232
Moody's Corp. .................................. 74,805 4,024,509
--------------
TOTAL DIVERSIFIED FINANCIAL SERVICES 26,121,830
--------------
|
See Notes to Financial Statements.
4
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SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
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COMMON STOCKS (CONTINUED)
DIVERSIFIED TELECOMMUNICATION SERVICES 1.4%
AT&T, Inc. ..................................... 124,020 $4,856,623
CenturyTel, Inc. ............................... 102,378 4,696,079
Citizens Communications Co. .................... 333,423 4,811,294
Embarq Corp. ................................... 80,005 4,943,509
Qwest Communications International, Inc.*....... 524,819 4,476,706
Verizon Communications, Inc. ................... 116,466 4,963,781
Windstream Corp. ............................... 342,785 4,716,721
--------------
TOTAL DIVERSIFIED TELECOMMUNICATION SERVICES 33,464,713
--------------
ELECTRIC UTILITIES 2.6%
Allegheny Energy, Inc.*......................... 96,168 5,022,855
American Electric Power Co., Inc. .............. 109,879 4,778,638
Duke Energy Corp. .............................. 268,114 4,565,981
Edison International............................ 90,256 4,773,640
Entergy Corp. .................................. 45,214 4,519,591
Exelon Corp. ................................... 68,094 4,776,794
FirstEnergy Corp. .............................. 76,152 4,626,234
FPL Group, Inc. ................................ 82,753 4,777,331
Integrys Energy Group, Inc. .................... 94,709 4,687,148
Pinnacle West Capital Corp. .................... 114,603 4,295,320
PPL Corp. ...................................... 109,351 5,154,806
Progress Energy, Inc. .......................... 106,260 4,639,312
Southern Co. ................................... 142,162 4,782,330
--------------
TOTAL ELECTRIC UTILITIES 61,399,980
--------------
ELECTRICAL EQUIPMENT 0.6%
Cooper Industries Ltd., -- Class A.............. 88,811 4,699,878
Emerson Electric Co. ........................... 103,761 4,884,030
Rockwell Automation, Inc. ...................... 72,357 5,064,267
--------------
TOTAL ELECTRICAL EQUIPMENT 14,648,175
--------------
ELECTRONIC EQUIPMENT & INSTRUMENTS 1.3%
Agilent Technologies, Inc.*..................... 129,896 4,955,532
Jabil Circuit, Inc. ............................ 249,000 5,609,970
Molex, Inc. .................................... 160,953 4,561,408
Solectron Corp.*................................ 1,332,233 5,009,196
Tektronix, Inc. ................................ 158,809 5,216,876
Tyco Electronics Ltd.*.......................... 125,257 4,486,706
--------------
TOTAL ELECTRONIC EQUIPMENT & INSTRUMENTS 29,839,688
--------------
ENERGY EQUIPMENT & SERVICES 2.6%
Baker Hughes, Inc. ............................. 57,933 4,579,604
BJ Services Co. ................................ 171,750 4,491,262
ENSCO International, Inc. ...................... 80,903 4,940,746
Halliburton Co. ................................ 139,180 5,013,264
Nabors Industries Ltd.*......................... 144,929 4,237,724
National-Oilwell Varco, Inc.*................... 47,495 5,704,624
Noble Corp. .................................... 53,113 5,441,958
Rowan Cos., Inc. ............................... 124,626 5,257,971
Schlumberger Ltd. .............................. 59,633 5,648,438
Smith International, Inc. ...................... 84,673 5,199,769
Transocean, Inc.*............................... 49,355 5,303,195
Weatherford International Ltd.*................. 89,364 4,944,510
--------------
TOTAL ENERGY EQUIPMENT & SERVICES 60,763,065
--------------
FOOD & STAPLES RETAILING 1.8%
Costco Wholesale Corp. ......................... 89,924 5,377,455
CVS Caremark Corp. ............................. 134,315 4,726,545
Kroger Co. ..................................... 164,987 4,283,063
Safeway, Inc. .................................. 146,927 4,682,563
SUPERVALU, Inc. ................................ 106,407 4,433,980
Sysco Corp. .................................... 153,613 4,897,182
Wal-Mart Stores, Inc. .......................... 102,518 4,710,702
Walgreen Co. ................................... 113,774 5,026,535
Whole Foods Market, Inc. ....................... 127,444 4,720,526
--------------
TOTAL FOOD & STAPLES RETAILING 42,858,551
--------------
|
See Notes to Financial Statements.
5
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COMMON STOCKS (CONTINUED)
FOOD PRODUCTS 2.6%
Archer-Daniels-Midland Co. ..................... 145,870 $4,901,232
Campbell Soup Co. .............................. 127,104 4,681,240
ConAgra Foods, Inc. ............................ 194,877 4,940,132
Dean Foods Co. ................................. 159,777 4,596,784
General Mills, Inc. ............................ 84,576 4,704,117
H.J. Heinz Co. ................................. 106,019 4,639,391
Hershey Co...................................... 98,968 4,562,425
Kellogg Co. .................................... 96,585 5,004,069
Kraft Foods, Inc. -- Class A.................... 142,909 4,680,270
McCormick & Co, Inc. ........................... 133,524 4,561,180
Sara Lee Corp. ................................. 281,722 4,465,294
Tyson Foods, Inc. -- Class A.................... 227,390 4,843,407
Wm. Wrigley Jr. Co. ............................ 89,578 5,166,859
--------------
TOTAL FOOD PRODUCTS 61,746,400
--------------
GAS UTILITIES 0.4%
Nicor, Inc. .................................... 112,034 4,415,260
Questar Corp. .................................. 91,487 4,710,666
--------------
TOTAL GAS UTILITIES 9,125,926
--------------
HEALTH CARE EQUIPMENT & SUPPLIES 2.4%
Bausch & Lomb, Inc. ............................ 72,954 4,663,949
Baxter International, Inc. ..................... 88,134 4,635,848
Becton Dickinson & Co. ......................... 66,056 5,044,036
Boston Scientific Corp.*........................ 307,397 4,042,271
C.R. Bard, Inc. ................................ 59,375 4,659,156
Covidien Ltd.*.................................. 114,997 4,709,127
Hospira, Inc.*.................................. 128,080 4,952,854
Medtronic, Inc. ................................ 96,996 4,914,787
St Jude Medical, Inc.*.......................... 116,762 5,037,113
Stryker Corp. .................................. 76,878 4,799,494
Varian Medical Systems, Inc.*................... 123,549 5,040,799
Zimmer Holdings, Inc.*.......................... 58,856 4,576,643
--------------
TOTAL HEALTH CARE EQUIPMENT & SUPPLIES 57,076,077
--------------
HEALTH CARE PROVIDERS & SERVICES 3.3%
Aetna, Inc. .................................... 99,704 4,792,771
AmerisourceBergen Corp. ........................ 99,757 4,699,552
Cardinal Health, Inc. .......................... 71,827 4,721,189
CIGNA Corp. .................................... 92,757 4,789,971
Coventry Health Care, Inc.*..................... 83,373 4,653,047
Express Scripts, Inc.*.......................... 100,056 5,015,807
Humana, Inc.*................................... 82,648 5,296,910
Laboratory Corp. of America Holdings*........... 63,605 4,697,229
Manor Care, Inc. ............................... 77,122 4,885,679
McKesson Corp. ................................. 82,602 4,771,092
Medco Health Solutions, Inc.*................... 63,097 5,127,893
Patterson Cos., Inc.*........................... 136,961 4,912,791
Quest Diagnostics, Inc. ........................ 98,533 5,465,626
Tenet Healthcare Corp.*......................... 753,477 3,903,011
UnitedHealth Group, Inc. ....................... 95,348 4,617,704
WellPoint, Inc.*................................ 62,108 4,665,553
--------------
TOTAL HEALTH CARE PROVIDERS & SERVICES 77,015,825
--------------
HEALTH CARE TECHNOLOGY 0.2%
IMS Health, Inc. ............................... 155,321 4,369,180
--------------
TOTAL HEALTH CARE TECHNOLOGY 4,369,180
--------------
HOTELS, RESTAURANTS & LEISURE 2.4%
Carnival Corp. ................................. 101,891 4,514,790
Darden Restaurants, Inc. ....................... 107,462 4,574,657
Harrah's Entertainment, Inc. ................... 59,384 5,029,231
Hilton Hotels Corp. ............................ 143,094 6,326,186
|
See Notes to Financial Statements.
6
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SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
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COMMON STOCKS (CONTINUED)
International Game Technology................... 128,830 $4,550,276
Marriott International, Inc. -- Class A......... 108,001 4,487,442
McDonald's Corp. ............................... 96,435 4,616,343
Starbucks Corp.*................................ 182,214 4,861,470
Starwood Hotels & Resorts Worldwide, Inc. ...... 70,716 4,452,279
Wendy's International, Inc. .................... 126,767 4,440,648
Wyndham Worldwide Corp.*........................ 134,465 4,524,747
Yum! Brands, Inc. .............................. 147,930 4,739,677
--------------
TOTAL HOTELS, RESTAURANTS & LEISURE 57,117,746
--------------
HOUSEHOLD DURABLES 2.4%
Black & Decker Corp. ........................... 56,912 4,926,872
Centex Corp. ................................... 114,421 4,269,048
D.R. Horton, Inc. .............................. 235,151 3,837,664
Fortune Brands, Inc. ........................... 62,944 5,117,347
Harman International Industries, Inc. .......... 43,167 5,007,372
KB HOME......................................... 114,724 3,649,370
Leggett & Platt, Inc. .......................... 213,631 4,428,571
Lennar Corp. -- Class A......................... 119,284 3,657,247
Newell Rubbermaid, Inc. ........................ 172,083 4,551,595
Pulte Homes, Inc. .............................. 200,909 3,885,580
Snap-On, Inc. .................................. 94,361 4,937,911
Stanley Works................................... 82,393 4,558,805
Whirlpool Corp. ................................ 44,543 4,548,286
--------------
TOTAL HOUSEHOLD DURABLES 57,375,668
--------------
HOUSEHOLD PRODUCTS 0.8%
Clorox Co. ..................................... 78,053 4,719,084
Colgate-Palmolive Co. .......................... 75,911 5,010,126
Kimberly-Clark Corp. ........................... 72,329 4,865,572
Procter & Gamble Co. ........................... 81,068 5,014,867
--------------
TOTAL HOUSEHOLD PRODUCTS 19,609,649
--------------
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 0.8%
AES Corp.*...................................... 228,639 4,492,756
Constellation Energy Group, Inc. ............... 55,893 4,683,833
Dynegy, Inc. -- Class A*........................ 526,391 4,690,144
TXU Corp. ...................................... 74,475 4,859,494
--------------
TOTAL INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 18,726,227
--------------
INDUSTRIAL CONGLOMERATES 0.8%
3M Co. ......................................... 57,319 5,096,805
General Electric Co. ........................... 133,164 5,161,437
Textron, Inc. .................................. 45,803 5,170,701
Tyco International Ltd. ........................ 92,493 4,373,994
--------------
TOTAL INDUSTRIAL CONGLOMERATES 19,802,937
--------------
INSURANCE 4.6%
ACE Ltd. ....................................... 81,161 4,684,613
AFLAC, Inc. .................................... 95,588 4,982,047
Allstate Corp. ................................. 82,268 4,372,544
Ambac Financial Group, Inc. .................... 57,252 3,844,472
American International Group, Inc. ............. 69,855 4,483,294
Aon Corp. ...................................... 119,120 4,769,565
Assurant, Inc. ................................. 85,470 4,335,038
Chubb Corp. .................................... 93,364 4,706,479
Cincinnati Financial Corp. ..................... 111,548 4,372,682
Genworth Financial, Inc. -- Class A............. 139,851 4,268,252
Hartford Financial Services Group, Inc. ........ 49,570 4,553,996
Lincoln National Corp. ......................... 69,345 4,182,890
Loews Corp. .................................... 95,328 4,518,547
Marsh & McLennan Cos., Inc. .................... 161,141 4,439,435
MBIA, Inc. ..................................... 77,769 4,362,841
MetLife, Inc. .................................. 75,772 4,562,990
Principal Financial Group, Inc. ................ 83,807 4,725,877
|
See Notes to Financial Statements.
7
RYDEX S&P EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
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COMMON STOCKS (CONTINUED)
Progressive Corp. .............................. 207,777 $4,359,161
Prudential Financial, Inc. ..................... 49,572 4,393,566
SAFECO Corp. ................................... 80,581 4,711,571
Torchmark Corp. ................................ 73,244 4,507,436
Travelers Cos., Inc............................. 93,374 4,741,532
Unum Group ..................................... 191,837 4,661,639
XL Capital Ltd. -- Class A...................... 60,741 4,729,294
--------------
TOTAL INSURANCE 108,269,761
--------------
INTERNET & CATALOG RETAIL 0.4%
Amazon.com, Inc.*............................... 69,102 5,427,271
IAC/ InterActiveCorp*........................... 146,028 4,196,845
--------------
TOTAL INTERNET & CATALOG RETAIL 9,624,116
--------------
INTERNET SOFTWARE & SERVICES 1.0%
Akamai Technologies, Inc.*...................... 99,182 3,368,221
eBay, Inc.*..................................... 158,134 5,123,542
Google, Inc. -- Class A*........................ 10,015 5,107,650
VeriSign, Inc.*................................. 170,663 5,066,984
Yahoo!, Inc.*................................... 184,567 4,291,183
--------------
TOTAL INTERNET SOFTWARE & SERVICES 22,957,580
--------------
IT SERVICES 2.4%
Affiliated Computer Services, Inc. -- Class A*.. 85,537 4,589,915
Automatic Data Processing, Inc. ................ 102,348 4,750,994
Cognizant Technology Solutions Corp. -- Class
A*........................................... 63,549 5,146,198
Computer Sciences Corp.*........................ 91,559 5,098,005
Convergys Corp.*................................ 204,039 3,886,943
Electronic Data Systems Corp. .................. 181,112 4,888,213
Fidelity National Information Services, Inc. ... 92,978 4,614,498
First Data Corp. ............................... 155,593 4,946,302
Fiserv, Inc.*................................... 86,216 4,260,795
Paychex, Inc. .................................. 125,221 5,181,645
Unisys Corp.*................................... 613,877 4,966,265
Western Union Co. .............................. 218,151 4,352,112
--------------
TOTAL IT SERVICES 56,681,885
--------------
LEISURE EQUIPMENT & PRODUCTS 0.7%
Brunswick Corp. ................................ 148,892 4,163,020
Eastman Kodak Co. .............................. 170,488 4,304,822
Hasbro, Inc. ................................... 159,409 4,466,640
Mattel, Inc. ................................... 193,825 4,440,531
--------------
TOTAL LEISURE EQUIPMENT & PRODUCTS 17,375,013
--------------
LIFE SCIENCES TOOLS & SERVICES 1.1%
Applera Corp. -- Applied Biosystems Group....... 173,918 5,429,720
Millipore Corp.*................................ 66,437 5,222,613
PerkinElmer, Inc. .............................. 187,452 5,216,789
Thermo Electron Corp.*.......................... 94,844 4,951,805
Waters Corp.*................................... 83,129 4,843,095
--------------
TOTAL LIFE SCIENCES TOOLS & SERVICES 25,664,022
--------------
MACHINERY 2.7%
Caterpillar, Inc. .............................. 62,128 4,895,686
Cummins, Inc. .................................. 51,638 6,129,431
Danaher Corp. .................................. 68,192 5,092,578
Deere & Co. .................................... 41,291 4,972,262
Dover Corp. .................................... 94,472 4,818,072
Eaton Corp. .................................... 53,562 5,205,155
Illinois Tool Works, Inc. ...................... 91,632 5,044,342
Ingersoll-Rand Co., Ltd. -- Class A............. 96,526 4,857,188
ITT Corp. ...................................... 72,212 4,540,691
PACCAR, Inc. ................................... 55,735 4,560,238
Pall Corp. ..................................... 107,424 4,460,244
|
See Notes to Financial Statements.
8
RYDEX S&P EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
Parker-Hannifin Corp. .......................... 50,510 $4,984,327
Terex Corp.*.................................... 59,316 5,116,005
--------------
TOTAL MACHINERY 64,676,219
--------------
MEDIA 3.4%
CBS Corp. -- Class B............................ 152,023 4,822,170
Clear Channel Communications, Inc. ............. 131,765 4,862,128
Comcast Corp. -- Class A*....................... 180,830 4,750,404
DIRECTV Group, Inc.*............................ 216,123 4,843,316
Dow Jones & Co., Inc. .......................... 83,675 4,801,272
E.W. Scripps Co. -- Class A..................... 110,506 4,527,431
Gannett Co., Inc. .............................. 87,581 4,370,292
Interpublic Group of Cos., Inc.*................ 440,461 4,620,436
McGraw-Hill Cos., Inc. ......................... 71,586 4,330,953
Meredith Corp. ................................. 81,667 4,613,369
New York Times Co. -- Class A................... 194,760 4,452,214
News Corp. -- Class A........................... 225,849 4,769,931
Omnicom Group, Inc. ............................ 96,416 5,001,098
Time Warner, Inc. .............................. 241,558 4,652,407
Tribune Co. .................................... 166,941 4,667,670
Viacom, Inc. -- Class B*........................ 116,668 4,468,384
Walt Disney Co. ................................ 146,802 4,844,466
--------------
TOTAL MEDIA 79,397,941
--------------
METALS & MINING 1.2%
Alcoa, Inc. .................................... 122,275 4,670,905
Allegheny Technologies, Inc. ................... 45,636 4,788,586
Freeport-McMoRan Copper & Gold, Inc. -- Class
B............................................ 60,038 5,642,371
Newmont Mining Corp. (Holding Co.).............. 125,788 5,251,649
Nucor Corp. .................................... 79,744 4,003,149
United States Steel Corp. ...................... 40,418 3,972,685
--------------
TOTAL METALS & MINING 28,329,345
--------------
MULTI-UTILITIES 2.6%
Ameren Corp. ................................... 99,657 4,781,543
CenterPoint Energy, Inc. ....................... 280,568 4,623,761
CMS Energy Corp. ............................... 284,658 4,600,073
Consolidated Edison, Inc. ...................... 107,148 4,680,224
Dominion Resources, Inc. ....................... 58,954 4,965,106
DTE Energy Co. ................................. 98,292 4,558,783
KeySpan Corp. .................................. 120,984 5,026,885
NiSource, Inc. ................................. 236,041 4,501,302
PG&E Corp. ..................................... 107,954 4,621,511
Public Service Enterprise Group, Inc. .......... 56,981 4,908,913
Sempra Energy................................... 84,573 4,458,688
TECO Energy, Inc. .............................. 295,405 4,767,837
Xcel Energy, Inc. .............................. 230,560 4,680,368
--------------
TOTAL MULTI-UTILITIES 61,174,994
--------------
MULTILINE RETAIL 1.7%
Big Lots, Inc.*................................. 166,258 4,299,432
Dillard's, Inc. -- Class A...................... 144,079 4,306,521
Family Dollar Stores, Inc. ..................... 144,518 4,280,623
Federated Department Stores, Inc. .............. 128,139 4,621,974
J.C. Penney Holding Co., Inc. .................. 66,383 4,516,699
Kohl's Corp.*................................... 70,063 4,259,831
Nordstrom, Inc. ................................ 94,107 4,477,611
Sears Holdings Corp.*........................... 28,935 3,958,019
Target Corp. ................................... 78,972 4,783,334
--------------
TOTAL MULTILINE RETAIL 39,504,044
--------------
OFFICE ELECTRONICS 0.2%
Xerox Corp.*.................................... 266,885 4,659,812
--------------
TOTAL OFFICE ELECTRONICS 4,659,812
--------------
|
See Notes to Financial Statements.
9
RYDEX S&P EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
OIL, GAS & CONSUMABLE FUELS 4.0%
Anadarko Petroleum Corp. ....................... 94,924 $4,777,525
Apache Corp. ................................... 57,749 4,668,429
Chesapeake Energy Corp. ........................ 136,802 4,656,740
Chevron Corp. .................................. 60,761 5,180,483
ConocoPhillips.................................. 63,378 5,123,478
CONSOL Energy, Inc. ............................ 105,091 4,377,040
Devon Energy Corp. ............................. 61,724 4,605,228
El Paso Corp. .................................. 296,770 4,941,220
EOG Resources, Inc. ............................ 63,168 4,428,077
Exxon Mobil Corp. .............................. 59,078 5,029,310
Hess Corp. ..................................... 82,895 5,073,174
Marathon Oil Corp. ............................. 77,302 4,267,070
Murphy Oil Corp. ............................... 84,052 5,214,586
Occidental Petroleum Corp. ..................... 85,540 4,851,829
Peabody Energy Corp. ........................... 95,965 4,055,481
Spectra Energy Corp. ........................... 192,340 4,898,900
Sunoco, Inc. ................................... 59,849 3,993,125
Valero Energy Corp. ............................ 66,056 4,426,413
Williams Cos., Inc. ............................ 159,553 5,145,584
XTO Energy, Inc. ............................... 80,177 4,372,052
--------------
TOTAL OIL, GAS & CONSUMABLE FUELS 94,085,744
--------------
PAPER & FOREST PRODUCTS 0.6%
International Paper Co. ........................ 133,446 4,946,843
MeadWestvaco Corp. ............................. 142,673 4,642,580
Weyerhaeuser Co. ............................... 61,288 4,366,157
--------------
TOTAL PAPER & FOREST PRODUCTS 13,955,580
--------------
PERSONAL PRODUCTS 0.4%
Avon Products, Inc. ............................ 130,763 4,708,776
Estee Lauder Cos., Inc. -- Class A.............. 108,768 4,896,735
--------------
TOTAL PERSONAL PRODUCTS 9,605,511
--------------
PHARMACEUTICALS 2.7%
Abbott Laboratories............................. 92,540 4,690,853
Allergan, Inc. ................................. 85,210 4,953,257
Barr Pharmaceuticals, Inc.*..................... 95,715 4,902,522
Bristol-Myers Squibb Co. ....................... 166,847 4,740,123
Eli Lilly & Co. ................................ 87,484 4,732,010
Forest Laboratories, Inc.*...................... 105,240 4,230,648
Johnson & Johnson............................... 80,539 4,872,609
King Pharmaceuticals, Inc.*..................... 237,039 4,032,033
Merck & Co., Inc. .............................. 98,851 4,907,952
Mylan Laboratories, Inc. ....................... 271,817 4,357,227
Pfizer, Inc. ................................... 190,929 4,488,741
Schering-Plough Corp. .......................... 162,972 4,651,221
Watson Pharmaceuticals, Inc.*................... 158,226 4,813,235
Wyeth........................................... 87,104 4,226,286
--------------
TOTAL PHARMACEUTICALS 64,598,717
--------------
REAL ESTATE INVESTMENT TRUSTS (REITS) 2.6%
Apartment Investment & Management Co. -- Class
A............................................ 98,073 4,143,584
Archstone-Smith Trust........................... 85,033 4,881,745
AvalonBay Communities, Inc. .................... 39,136 4,225,514
Boston Properties, Inc. ........................ 46,303 4,375,171
Developers Diversified Realty Corp. ............ 89,533 4,297,584
Equity Residential Properties Trust............. 107,075 4,262,656
General Growth Properties, Inc. ................ 94,194 4,519,428
Host Hotels & Resorts, Inc. .................... 209,595 4,426,646
Kimco Realty Corp. ............................. 117,801 4,397,511
Plum Creek Timber Co., Inc. .................... 121,033 4,703,342
ProLogis........................................ 81,640 4,645,316
Public Storage, Inc. ........................... 60,846 4,264,696
|
See Notes to Financial Statements.
10
RYDEX S&P EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
Simon Property Group, Inc. ..................... 50,799 $4,395,638
Vornado Realty Trust............................ 43,542 4,660,300
--------------
TOTAL REAL ESTATE INVESTMENT TRUSTS (REITS) 62,199,131
--------------
REAL ESTATE MANAGEMENT & DEVELOPMENT 0.2%
CB Richard Ellis Group, Inc. -- Class A*........ 130,115 4,543,616
--------------
TOTAL REAL ESTATE MANAGEMENT & DEVELOPMENT 4,543,616
--------------
ROAD & RAIL 1.1%
Burlington Northern Santa Fe Corp. ............. 56,262 4,621,361
CSX Corp. ...................................... 111,230 5,273,414
Norfolk Southern Corp. ......................... 89,706 4,824,389
Ryder System, Inc. ............................. 95,665 5,201,306
Union Pacific Corp. ............................ 41,828 4,983,388
--------------
TOTAL ROAD & RAIL 24,903,858
--------------
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 3.8%
Advanced Micro Devices, Inc.*................... 370,610 5,018,060
Altera Corp. ................................... 222,025 5,150,980
Analog Devices, Inc. ........................... 134,104 4,753,987
Applied Materials, Inc. ........................ 255,632 5,634,129
Broadcom Corp. -- Class A*...................... 162,968 5,346,980
Intel Corp. .................................... 211,137 4,987,056
KLA-Tencor Corp. ............................... 90,614 5,145,969
Linear Technology Corp. ........................ 138,723 4,945,475
LSI Logic Corp.*................................ 612,132 4,407,350
Maxim Integrated Products, Inc. ................ 155,008 4,913,754
MEMC Electronic Materials, Inc.*................ 85,197 5,224,280
Micron Technology, Inc.*........................ 404,970 4,806,994
National Semiconductor Corp. ................... 176,549 4,588,509
Novellus Systems, Inc.*......................... 166,481 4,748,038
NVIDIA Corp.*................................... 129,529 5,927,247
Teradyne, Inc.*................................. 291,754 4,577,620
Texas Instruments, Inc. ........................ 137,496 4,838,484
Xilinx, Inc. ................................... 183,319 4,582,975
--------------
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 89,597,887
--------------
SOFTWARE 2.4%
Adobe Systems, Inc.*............................ 118,083 4,757,564
Autodesk, Inc.*................................. 112,290 4,757,727
BMC Software, Inc.*............................. 156,786 4,502,894
CA, Inc. ....................................... 196,265 4,922,326
Citrix Systems, Inc.*........................... 147,285 5,327,299
Compuware Corp.*................................ 427,751 3,990,917
Electronic Arts, Inc.*.......................... 102,338 4,977,720
Intuit, Inc.*................................... 170,334 4,878,366
Microsoft Corp. ................................ 165,288 4,791,699
Novell, Inc.*................................... 636,954 4,273,961
Oracle Corp.*................................... 255,022 4,876,021
Symantec Corp.*................................. 256,674 4,928,141
--------------
TOTAL SOFTWARE 56,984,635
--------------
SPECIALTY RETAIL 3.2%
Abercrombie & Fitch Co. -- Class A.............. 64,419 4,502,888
AutoNation, Inc.*............................... 223,613 4,355,981
AutoZone, Inc.*................................. 36,662 4,649,108
Bed Bath & Beyond, Inc.*........................ 132,800 4,600,192
Best Buy Co., Inc. ............................. 105,190 4,690,422
Circuit City Stores, Inc. ...................... 301,127 3,583,411
Gap, Inc. ...................................... 265,713 4,570,264
Home Depot, Inc. ............................... 132,270 4,916,476
Limited Brands, Inc. ........................... 193,394 4,670,465
Lowe's Cos., Inc. .............................. 159,940 4,479,920
Office Depot, Inc.*............................. 145,073 3,621,022
OfficeMax, Inc. ................................ 120,974 3,977,625
RadioShack Corp. ............................... 148,855 3,740,726
Sherwin-Williams Co. ........................... 73,891 5,149,464
|
See Notes to Financial Statements.
11
RYDEX S&P EQUAL WEIGHT ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
Staples, Inc. .................................. 201,704 $4,643,226
Tiffany & Co. .................................. 102,178 4,930,089
TJX Cos., Inc. ................................. 175,559 4,871,762
--------------
TOTAL SPECIALTY RETAIL 75,953,041
--------------
TEXTILES, APPAREL & LUXURY GOODS 1.2%
Coach, Inc.*.................................... 103,196 4,691,290
Jones Apparel Group, Inc. ...................... 174,775 4,362,384
Liz Claiborne, Inc. ............................ 136,939 4,812,036
Nike, Inc. -- Class B........................... 94,659 5,343,501
Polo Ralph Lauren Corp. ........................ 53,131 4,747,255
V.F. Corp. ..................................... 53,951 4,628,456
--------------
TOTAL TEXTILES, APPAREL & LUXURY GOODS 28,584,922
--------------
THRIFTS & MORTGAGE FINANCE 1.2%
Countrywide Financial Corp. .................... 133,526 3,761,427
Federal Home Loan Mortgage Corp. ............... 76,997 4,409,618
Federal National Mortgage Association........... 73,661 4,407,874
Hudson City Bancorp, Inc. ...................... 392,726 4,799,112
MGIC Investment Corp. .......................... 81,131 3,136,525
Sovereign Bancorp, Inc. ........................ 222,716 4,262,784
Washington Mutual, Inc. ........................ 117,026 4,391,986
--------------
TOTAL THRIFTS & MORTGAGE FINANCE 29,169,326
--------------
TOBACCO 0.6%
Altria Group, Inc. ............................. 71,440 4,748,617
Reynolds American, Inc. ........................ 80,724 4,937,887
UST, Inc. ...................................... 95,661 5,122,646
--------------
TOTAL TOBACCO 14,809,150
--------------
TRADING COMPANIES & DISTRIBUTORS 0.2%
W.W. Grainger, Inc. ............................ 56,255 4,914,437
--------------
TOTAL TRADING COMPANIES & DISTRIBUTORS 4,914,437
--------------
WIRELESS TELECOMMUNICATION SERVICES 0.4%
ALLTEL Corp. ................................... 74,541 4,915,979
Sprint Nextel Corp. ............................ 226,887 4,657,990
--------------
TOTAL WIRELESS TELECOMMUNICATION SERVICES 9,573,969
--------------
TOTAL COMMON STOCKS
(Cost $2,267,768,159) 2,362,669,632
--------------
SHORT TERM INVESTMENTS 0.2%
SSgA Prime Money Market Fund.................... 4,713,512 4,713,512
TOTAL SHORT TERM INVESTMENTS
(Cost $4,713,512) 4,713,512
--------------
TOTAL INVESTMENTS 99.8%
(Cost $2,272,481,671) 2,367,383,144
--------------
OTHER ASSETS IN EXCESS OF LIABILITIES--0.0%(A) 947,345
--------------
NET ASSETS--100.0% $2,368,330,489
|
* Non-Income Producing Security.
(a) Amount represents less than 0.05% of net assets.
See Notes to Financial Statements.
12
RYDEX RUSSELL TOP 50 ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
---------------------------------------------------------------------------
COMMON STOCKS 99.4%
AEROSPACE & DEFENSE 2.5%
Boeing Co. ..................................... 75,745 $7,834,305
United Technologies Corp. ...................... 95,665 6,980,675
------------
TOTAL AEROSPACE & DEFENSE 14,814,980
------------
AIR FREIGHT & LOGISTICS 0.8%
United Parcel Service, Inc. --
Class B...................................... 64,592 4,890,906
------------
TOTAL AIR FREIGHT & LOGISTICS 4,890,906
------------
BEVERAGES 3.6%
Coca-Cola Co. .................................. 222,207 11,579,207
PepsiCo, Inc. .................................. 156,691 10,282,063
------------
TOTAL BEVERAGES 21,861,270
------------
BIOTECHNOLOGY 1.5%
Amgen, Inc.*.................................... 111,545 5,994,429
Genentech, Inc.*................................ 44,785 3,331,108
------------
TOTAL BIOTECHNOLOGY 9,325,537
------------
CAPITAL MARKETS 3.2%
Goldman Sachs Group, Inc. ...................... 35,745 6,732,213
Merrill Lynch & Co., Inc. ...................... 83,515 6,196,813
Morgan Stanley.................................. 101,379 6,475,077
------------
TOTAL CAPITAL MARKETS 19,404,103
------------
COMMERCIAL BANKS 3.2%
Wachovia Corp. ................................. 184,062 8,689,567
Wells Fargo & Co. .............................. 322,973 10,906,798
------------
TOTAL COMMERCIAL BANKS 19,596,365
------------
COMMUNICATIONS EQUIPMENT 3.9%
Cisco Systems, Inc.*............................ 585,553 16,928,337
QUALCOMM, Inc. ................................. 160,338 6,678,078
------------
TOTAL COMMUNICATIONS EQUIPMENT 23,606,415
------------
COMPUTERS & PERIPHERALS 6.4%
Apple, Inc.*.................................... 83,206 10,963,223
Hewlett-Packard Co. ............................ 257,462 11,850,976
International Business Machines Corp. .......... 142,833 15,804,471
------------
TOTAL COMPUTERS & PERIPHERALS 38,618,670
------------
CONSUMER FINANCE 1.2%
American Express Co. ........................... 99,616 5,831,521
Discover Financial Services*.................... 50,689 1,168,381
------------
TOTAL CONSUMER FINANCE 6,999,902
------------
DIVERSIFIED FINANCIAL SERVICES 9.4%
Bank of America Corp. .......................... 426,908 20,243,977
Citigroup, Inc. ................................ 475,836 22,159,683
JPMorgan Chase & Co. ........................... 328,628 14,462,918
------------
TOTAL DIVERSIFIED FINANCIAL SERVICES 56,866,578
------------
DIVERSIFIED TELECOMMUNICATION SERVICES 5.8%
AT&T, Inc. ..................................... 593,109 23,226,149
Verizon Communications, Inc. ................... 279,307 11,904,064
------------
TOTAL DIVERSIFIED TELECOMMUNICATION SERVICES 35,130,213
------------
|
See Notes to Financial Statements.
13
RYDEX RUSSELL TOP 50 ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
---------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
ELECTRONIC EQUIPMENT & INSTRUMENTS 0.3%
Tyco Electronics Ltd.*.......................... 47,678 $1,707,826
------------
TOTAL ELECTRONIC EQUIPMENT & INSTRUMENTS 1,707,826
------------
ENERGY EQUIPMENT & SERVICES 1.8%
Schlumberger Ltd. .............................. 113,375 10,738,880
------------
TOTAL ENERGY EQUIPMENT & SERVICES 10,738,880
------------
FOOD & STAPLES RETAILING 1.8%
Wal-Mart Stores, Inc. .......................... 231,951 10,658,149
------------
TOTAL FOOD & STAPLES RETAILING 10,658,149
------------
HEALTH CARE EQUIPMENT & SUPPLIES 0.3%
Covidien Ltd.*.................................. 47,678 1,952,414
------------
TOTAL HEALTH CARE EQUIPMENT & SUPPLIES 1,952,414
------------
HEALTH CARE PROVIDERS & SERVICES 1.0%
UnitedHealth Group, Inc. ....................... 128,905 6,242,869
------------
TOTAL HEALTH CARE PROVIDERS & SERVICES 6,242,869
------------
HOUSEHOLD PRODUCTS 3.1%
Procter & Gamble Co. ........................... 302,915 18,738,322
------------
TOTAL HOUSEHOLD PRODUCTS 18,738,322
------------
INDUSTRIAL CONGLOMERATES 6.7%
General Electric Co. ........................... 989,702 38,360,849
Tyco International Ltd. ........................ 47,678 2,254,693
------------
TOTAL INDUSTRIAL CONGLOMERATES 40,615,542
------------
INSURANCE 2.3%
American International Group, Inc. ............. 215,617 13,838,299
------------
TOTAL INSURANCE 13,838,299
------------
INTERNET SOFTWARE & SERVICES 1.9%
Google, Inc. -- Class A*........................ 22,047 11,243,970
------------
TOTAL INTERNET SOFTWARE & SERVICES 11,243,970
------------
MEDIA 4.2%
Comcast Corp. -- Class A*....................... 284,105 7,463,438
News Corp. -- Class A........................... 219,226 4,630,053
Time Warner, Inc. .............................. 362,336 6,978,592
Walt Disney Co. ................................ 190,629 6,290,757
------------
TOTAL MEDIA 25,362,840
------------
OIL, GAS & CONSUMABLE FUELS 12.7%
Chevron Corp. .................................. 206,759 17,628,273
ConocoPhillips.................................. 157,223 12,709,907
Exxon Mobil Corp. .............................. 541,910 46,132,798
------------
TOTAL OIL, GAS & CONSUMABLE FUELS 76,470,978
------------
PHARMACEUTICALS 10.3%
Abbott Laboratories............................. 148,178 7,511,143
Eli Lilly & Co. ................................ 95,572 5,169,489
Johnson & Johnson............................... 278,649 16,858,264
Merck & Co., Inc. .............................. 208,495 10,351,777
Pfizer, Inc. ................................... 675,150 15,872,777
Wyeth........................................... 129,410 6,278,973
------------
TOTAL PHARMACEUTICALS 62,042,423
------------
|
See Notes to Financial Statements.
14
RYDEX RUSSELL TOP 50 ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
---------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 2.2%
Intel Corp. .................................... 558,707 $13,196,659
------------
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 13,196,659
------------
SOFTWARE 5.0%
Microsoft Corp. ................................ 789,619 22,891,055
Oracle Corp.*................................... 370,909 7,091,780
------------
TOTAL SOFTWARE 29,982,835
------------
SPECIALTY RETAIL 1.2%
Home Depot, Inc. ............................... 189,469 7,042,563
------------
TOTAL SPECIALTY RETAIL 7,042,563
------------
TOBACCO 2.2%
Altria Group, Inc. ............................. 202,329 13,448,809
------------
TOTAL TOBACCO 13,448,809
------------
WIRELESS TELECOMMUNICATION SERVICES 0.9%
Sprint Nextel Corp. ............................ 270,570 5,554,802
------------
TOTAL WIRELESS TELECOMMUNICATION SERVICES 5,554,802
------------
TOTAL COMMON STOCKS
(Cost $585,693,793) 599,953,119
------------
SHORT TERM INVESTMENTS 0.5%
SSgA Prime Money Market Fund.................... 3,098,776 3,098,776
------------
TOTAL SHORT TERM INVESTMENTS
(Cost $3,098,776) 3,098,776
------------
TOTAL INVESTMENTS 99.9%
(Cost $588,792,569) 603,051,895
------------
OTHER ASSETS IN EXCESS OF LIABILITIES--0.1% 569,711
------------
NET ASSETS--100.0% $603,621,606
---------------------------------------------------------------------------
|
* Non-Income Producing Security.
See Notes to Financial Statements.
15
RYDEX S&P 500 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS 99.7%
AEROSPACE & DEFENSE 1.5%
Goodrich Corp. ................................. 2,970 $186,843
Northrop Grumman Corp. ......................... 4,669 355,311
Raytheon Co. ................................... 3,118 172,612
-----------
TOTAL AEROSPACE & DEFENSE 714,766
-----------
AUTO COMPONENTS 1.4%
Goodyear Tire & Rubber Co.*..................... 9,924 285,017
Johnson Controls, Inc. ......................... 3,342 378,148
-----------
TOTAL AUTO COMPONENTS 663,165
-----------
AUTOMOBILES 4.0%
Ford Motor Co.*................................. 143,033 1,217,211
General Motors Corp. ........................... 19,318 625,903
-----------
TOTAL AUTOMOBILES 1,843,114
-----------
BEVERAGES 1.8%
Coca-Cola Enterprises, Inc. .................... 16,170 366,412
Molson Coors Brewing Co. -- Class B............. 5,107 454,217
-----------
TOTAL BEVERAGES 820,629
-----------
BUILDING PRODUCTS 0.5%
Masco Corp. .................................... 8,788 239,121
-----------
TOTAL BUILDING PRODUCTS 239,121
-----------
CAPITAL MARKETS 0.2%
Bear Stearns Cos., Inc. ........................ 833 100,976
-----------
TOTAL CAPITAL MARKETS 100,976
CHEMICALS 3.9%
Air Products & Chemicals, Inc. ................. 2,407 207,893
Ashland, Inc. .................................. 6,154 375,763
Dow Chemical Co................................. 9,249 402,146
Eastman Chemical Co. ........................... 5,762 396,541
PPG Industries, Inc. ........................... 3,454 263,437
Rohm & Haas Co. ................................ 2,476 139,943
-----------
TOTAL CHEMICALS 1,785,723
-----------
COMMERCIAL BANKS 6.8%
BB&T Corp. ..................................... 5,571 208,467
Comerica, Inc. ................................. 5,278 277,940
Fifth Third Bancorp............................. 5,706 210,494
First Horizon National Corp. ................... 10,961 347,683
Huntington Bancshares, Inc. .................... 11,995 230,304
KeyCorp......................................... 7,787 270,131
National City Corp. ............................ 11,366 334,047
PNC Financial Services Group, Inc. ............. 3,151 210,014
Regions Financial Corp. ........................ 9,305 279,801
SunTrust Banks, Inc. ........................... 2,420 189,486
U.S. Bancorp.................................... 5,581 167,151
Wachovia Corp. ................................. 5,851 276,226
Wells Fargo & Co. .............................. 4,333 146,325
-----------
TOTAL COMMERCIAL BANKS 3,148,069
-----------
COMMERCIAL SERVICES & SUPPLIES 1.8%
Allied Waste Industries, Inc.*.................. 17,866 229,935
R.R. Donnelley & Sons Co. ...................... 10,543 445,547
Waste Management, Inc. ......................... 3,892 148,013
-----------
TOTAL COMMERCIAL SERVICES & SUPPLIES 823,495
-----------
CONTAINERS & PACKAGING 1.5%
Bemis Co., Inc. ................................ 4,929 145,258
Temple-Inland, Inc. ............................ 9,216 535,726
-----------
TOTAL CONTAINERS & PACKAGING 680,984
-----------
DISTRIBUTORS 0.4%
Genuine Parts Co. .............................. 4,320 205,546
-----------
TOTAL DISTRIBUTORS 205,546
|
See Notes to Financial Statements.
16
RYDEX S&P 500 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
DIVERSIFIED FINANCIAL SERVICES 2.2%
Bank of America Corp. .......................... 5,018 $237,953
CIT Group, Inc. ................................ 4,916 202,441
Citigroup, Inc. ................................ 5,433 253,015
JPMorgan Chase & Co. ........................... 6,964 306,486
-----------
TOTAL DIVERSIFIED FINANCIAL SERVICES 999,895
-----------
DIVERSIFIED TELECOMMUNICATION SERVICES 6.6%
AT&T, Inc. ..................................... 8,867 347,232
CenturyTel, Inc. ............................... 4,399 201,782
Citizens Communications Co. .................... 28,244 407,561
Embarq Corp. ................................... 15,910 983,079
Verizon Communications, Inc. ................... 13,740 585,599
Windstream Corp. ............................... 37,647 518,022
-----------
TOTAL DIVERSIFIED TELECOMMUNICATION SERVICES 3,043,275
-----------
ELECTRIC UTILITIES 7.4%
American Electric Power Co., Inc. .............. 7,405 322,043
Duke Energy Corp. .............................. 17,948 305,654
Entergy Corp. .................................. 1,913 191,224
FirstEnergy Corp. .............................. 5,087 309,035
FPL Group, Inc. ................................ 3,398 196,167
Integrys Energy Group, Inc. .................... 14,695 727,256
Pinnacle West Capital Corp. .................... 10,250 384,170
PPL Corp. ...................................... 4,659 219,625
Progress Energy, Inc. .......................... 10,645 464,761
Southern Co. ................................... 8,946 300,943
-----------
TOTAL ELECTRIC UTILITIES 3,420,878
-----------
ELECTRONIC EQUIPMENT & INSTRUMENTS 1.2%
Solectron Corp.*................................ 142,694 536,529
-----------
TOTAL ELECTRONIC EQUIPMENT & INSTRUMENTS 536,529
-----------
FOOD & STAPLES RETAILING 3.5%
Costco Wholesale Corp. ......................... 3,859 230,768
Kroger Co. ..................................... 14,514 376,783
Safeway, Inc. .................................. 8,258 263,183
SUPERVALU, Inc. ................................ 17,869 744,601
-----------
TOTAL FOOD & STAPLES RETAILING 1,615,335
-----------
FOOD PRODUCTS 3.2%
ConAgra Foods, Inc. ............................ 10,240 259,584
Kraft Foods, Inc. -- Class A.................... 5,930 194,208
Sara Lee Corp. ................................. 21,840 346,164
Tyson Foods, Inc. -- Class A.................... 32,145 684,688
-----------
TOTAL FOOD PRODUCTS 1,484,644
-----------
GAS UTILITIES 0.7%
Nicor, Inc. .................................... 8,304 327,261
-----------
TOTAL GAS UTILITIES 327,261
-----------
HEALTH CARE EQUIPMENT & SUPPLIES 0.3%
Bausch & Lomb, Inc. ............................ 2,443 156,181
-----------
TOTAL HEALTH CARE EQUIPMENT & SUPPLIES 156,181
-----------
HEALTH CARE PROVIDERS & SERVICES 2.9%
AmerisourceBergen Corp. ........................ 10,217 481,323
McKesson Corp. ................................. 7,290 421,070
Medco Health Solutions, Inc.*................... 2,947 239,503
Tenet Healthcare Corp.*......................... 40,653 210,583
-----------
TOTAL HEALTH CARE PROVIDERS & SERVICES 1,352,479
-----------
|
See Notes to Financial Statements.
17
RYDEX S&P 500 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
HOTELS, RESTAURANTS & LEISURE 0.5%
Wyndham Worldwide Corp.*........................ 6,246 $210,178
-----------
TOTAL HOTELS, RESTAURANTS & LEISURE 210,178
-----------
HOUSEHOLD DURABLES 2.2%
Leggett & Platt, Inc. .......................... 13,671 283,400
Newell Rubbermaid, Inc. ........................ 5,008 132,462
Stanley Works................................... 2,555 141,368
Whirlpool Corp. ................................ 4,501 459,597
-----------
TOTAL HOUSEHOLD DURABLES 1,016,827
-----------
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 0.8%
Dynegy, Inc.*................................... 41,384 368,731
-----------
TOTAL INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 368,731
-----------
INSURANCE 7.7%
ACE Ltd. ....................................... 6,075 350,649
Allstate Corp................................... 5,380 285,947
Chubb Corp. .................................... 3,803 191,709
Cincinnati Financial Corp. ..................... 8,541 334,807
Genworth Financial, Inc. -- Class A............. 7,415 226,306
Hartford Financial Services Group, Inc. ........ 3,161 290,401
Lincoln National Corp. ......................... 4,119 248,458
SAFECO Corp. ................................... 3,612 211,194
Travelers Cos., Inc. ........................... 6,944 352,616
Unum Group ..................................... 20,635 501,431
XL Capital Ltd. -- Class A...................... 6,987 544,008
-----------
TOTAL INSURANCE 3,537,526
-----------
IT SERVICES 1.2%
Computer Sciences Corp.*........................ 5,064 281,964
Electronic Data Systems Corp. .................. 4,725 127,528
Unisys Corp.*................................... 20,694 167,414
-----------
TOTAL IT SERVICES 576,906
-----------
LEISURE EQUIPMENT & PRODUCTS 1.5%
Brunswick Corp. ................................ 12,884 360,236
Eastman Kodak Co. .............................. 12,535 316,509
-----------
TOTAL LEISURE EQUIPMENT & PRODUCTS 676,745
-----------
MACHINERY 1.7%
Cummins, Inc. .................................. 4,669 554,210
PACCAR, Inc. ................................... 2,914 238,424
-----------
TOTAL MACHINERY 792,634
-----------
MEDIA 3.0%
CBS Corp. -- Class B............................ 13,615 431,868
Dow Jones & Co., Inc. .......................... 4,320 247,881
Gannett Co., Inc. .............................. 2,690 134,231
New York Times Co. -- Class A................... 8,574 196,002
Time Warner, Inc. .............................. 7,853 151,249
Tribune Co. .................................... 7,214 201,703
-----------
TOTAL MEDIA 1,362,934
-----------
METALS & MINING 1.9%
Alcoa, Inc. .................................... 8,923 340,859
Freeport-McMoRan Copper & Gold, Inc............. 3,128 293,969
United States Steel Corp. ...................... 2,463 242,088
-----------
TOTAL METALS & MINING 876,916
-----------
MULTI-UTILITIES 10.9%
Ameren Corp. ................................... 7,247 347,711
CenterPoint Energy, Inc. ....................... 26,443 435,781
CMS Energy Corp. ............................... 20,885 337,502
|
See Notes to Financial Statements.
18
RYDEX S&P 500 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
Consolidated Edison, Inc. ...................... 9,565 $417,799
Dominion Resources, Inc. ....................... 3,543 298,391
DTE Energy Co. ................................. 11,982 555,725
KeySpan Corp. .................................. 13,592 564,748
NiSource, Inc. ................................. 23,292 444,178
PG&E Corp. ..................................... 5,548 237,510
Public Service Enterprise Group, Inc. .......... 4,310 371,307
Sempra Energy................................... 4,320 227,750
TECO Energy, Inc. .............................. 20,905 337,407
Xcel Energy, Inc. .............................. 21,771 441,951
-----------
TOTAL MULTI-UTILITIES 5,017,760
-----------
MULTILINE RETAIL 1.4%
Dillard's, Inc. -- Class A...................... 17,135 512,165
Federated Department Stores, Inc. .............. 3,408 122,927
-----------
TOTAL MULTILINE RETAIL 635,092
-----------
OIL, GAS & CONSUMABLE FUELS 2.7%
ConocoPhillips.................................. 6,694 541,143
Hess Corp. ..................................... 5,683 347,800
Marathon Oil Corp. ............................. 6,898 380,769
-----------
TOTAL OIL, GAS & CONSUMABLE FUELS 1,269,712
-----------
PAPER & FOREST PRODUCTS 2.4%
International Paper Co. ........................ 8,179 303,196
MeadWestvaco Corp. ............................. 13,276 432,001
Weyerhaeuser Co. ............................... 5,354 381,419
-----------
TOTAL PAPER & FOREST PRODUCTS 1,116,616
-----------
PHARMACEUTICALS 0.4%
Bristol-Myers Squibb Co. ....................... 6,381 181,284
-----------
TOTAL PHARMACEUTICALS 181,284
-----------
REAL ESTATE INVESTMENT TRUSTS (REITS) 1.2%
Apartment Investment & Management Co. -- Class
A............................................ 4,320 182,520
Boston Properties, Inc. ........................ 1,633 154,302
Plum Creek Timber Co., Inc. .................... 5,614 218,160
-----------
TOTAL REAL ESTATE INVESTMENT TRUSTS (REITS) 554,982
-----------
ROAD & RAIL 1.4%
Ryder System, Inc. ............................. 7,685 417,833
Union Pacific Corp. ............................ 1,732 206,351
-----------
TOTAL ROAD & RAIL 624,184
-----------
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 0.3%
Micron Technology, Inc.*........................ 10,003 118,736
-----------
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 118,736
-----------
SPECIALTY RETAIL 1.7%
AutoNation, Inc.*............................... 23,957 466,682
Circuit City Stores, Inc. ...................... 10,105 120,250
OfficeMax, Inc. ................................ 6,167 202,771
-----------
TOTAL SPECIALTY RETAIL 789,703
-----------
TEXTILES, APPAREL & LUXURY GOODS 0.4%
Jones Apparel Group, Inc. ...................... 7,056 176,118
-----------
TOTAL TEXTILES, APPAREL & LUXURY GOODS 176,118
-----------
|
See Notes to Financial Statements.
19
RYDEX S&P 500 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
THRIFTS & MORTGAGE FINANCE 2.7%
Federal National Mortgage Association........... 14,313 $856,490
Washington Mutual, Inc. ........................ 10,510 394,440
-----------
TOTAL THRIFTS & MORTGAGE FINANCE 1,250,930
-----------
TOBACCO 0.3%
Reynolds American, Inc. ........................ 2,644 161,733
-----------
TOTAL TOBACCO 161,733
-----------
WIRELESS TELECOMMUNICATION SERVICES 1.6%
ALLTEL Corp. ................................... 5,479 361,340
Sprint Nextel Corp. ............................ 18,498 379,764
-----------
TOTAL WIRELESS TELECOMMUNICATION SERVICES 741,104
-----------
TOTAL COMMON STOCKS
(Cost $45,285,226) 46,019,416
-----------
SHORT TERM INVESTMENTS 0.2%
SSgA Prime Money Market Fund.................... 107,367 107,367
-----------
TOTAL SHORT TERM INVESTMENTS
(Cost $107,367) 107,367
-----------
TOTAL INVESTMENTS 99.9%
(Cost $45,392,593) $46,126,783
-----------
OTHER ASSETS IN EXCESS OF LIABILITIES--0.1% $56,075
-----------
NET ASSETS--100.0% $46,182,858
------------------------------------------------------------------------
|
* Non-Income Producing Security.
See Notes to Financial Statements.
20
RYDEX S&P 500 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS 99.8%
AEROSPACE & DEFENSE 2.7%
General Dynamics Corp. ......................... 4,664 $366,404
L-3 Communications Holdings, Inc. .............. 4,952 483,117
Rockwell Collins, Inc. ......................... 5,990 411,513
United Technologies Corp. ...................... 3,968 289,545
-----------
TOTAL AEROSPACE & DEFENSE 1,550,579
-----------
AIR FREIGHT & LOGISTICS 0.6%
C.H. Robinson Worldwide, Inc. .................. 6,770 329,361
-----------
TOTAL AIR FREIGHT & LOGISTICS 329,361
-----------
AUTOMOBILES 0.7%
Harley-Davidson, Inc. .......................... 7,326 419,926
-----------
TOTAL AUTOMOBILES 419,926
-----------
BEVERAGES 2.4%
Anheuser-Busch Cos., Inc. ...................... 7,796 380,211
Brown-Forman Corp. -- Class B................... 3,636 241,576
Pepsi Bottling Group, Inc. ..................... 14,460 483,832
PepsiCo, Inc. .................................. 4,310 282,822
-----------
TOTAL BEVERAGES 1,388,441
-----------
BIOTECHNOLOGY 2.6%
Amgen, Inc.*.................................... 5,594 300,621
Celgene Corp.*.................................. 4,556 275,911
Genzyme Corp.*.................................. 3,584 226,043
Gilead Sciences, Inc.*.......................... 18,129 674,943
-----------
TOTAL BIOTECHNOLOGY 1,477,518
-----------
BUILDING PRODUCTS 0.7%
American Standard Cos., Inc. ................... 7,240 391,322
-----------
TOTAL BUILDING PRODUCTS 391,322
-----------
CAPITAL MARKETS 0.7%
Federated Investors, Inc. -- Class B............ 11,892 428,231
-----------
TOTAL CAPITAL MARKETS 428,231
-----------
CHEMICALS 2.1%
Ecolab, Inc. ................................... 7,648 322,057
International Flavors & Fragrances, Inc. ....... 4,846 242,833
Praxair, Inc. .................................. 3,304 253,152
Sigma-Aldrich Corp. ............................ 7,958 360,657
-----------
TOTAL CHEMICALS 1,178,699
-----------
COMMERCIAL BANKS 0.6%
Commerce Bancorp, Inc. ......................... 9,626 321,990
-----------
TOTAL COMMERCIAL BANKS 321,990
-----------
COMMERCIAL SERVICES & SUPPLIES 0.8%
Cintas Corp. ................................... 5,402 197,497
Pitney Bowes, Inc. ............................. 5,680 261,848
-----------
TOTAL COMMERCIAL SERVICES & SUPPLIES 459,345
-----------
COMMUNICATIONS EQUIPMENT 1.0%
Cisco Systems, Inc.*............................ 10,514 303,960
QUALCOMM, Inc. ................................. 6,974 290,467
-----------
TOTAL COMMUNICATIONS EQUIPMENT 594,427
-----------
COMPUTERS & PERIPHERALS 3.1%
Dell, Inc.*..................................... 16,503 461,589
International Business Machines Corp. .......... 2,930 324,205
Lexmark International, Inc. -- Class A*......... 5,176 204,659
Network Appliance, Inc.*........................ 6,620 187,611
QLogic Corp.*................................... 16,845 223,870
SanDisk Corp.*.................................. 6,610 354,494
-----------
TOTAL COMPUTERS & PERIPHERALS 1,756,428
-----------
|
See Notes to Financial Statements.
21
RYDEX S&P 500 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
CONSUMER FINANCE 1.8%
American Express Co. ........................... 3,872 $226,667
Capital One Financial Corp. .................... 5,326 376,868
SLM Corp. ...................................... 8,106 398,572
-----------
TOTAL CONSUMER FINANCE 1,002,107
-----------
CONTAINERS & PACKAGING 1.1%
Ball Corp. ..................................... 8,000 410,160
Pactiv Corp.*................................... 7,198 227,529
-----------
TOTAL CONTAINERS & PACKAGING 637,689
-----------
DIVERSIFIED CONSUMER SERVICES 2.3%
Apollo Group, Inc. -- Class A*.................. 15,154 895,753
H&R Block, Inc. ................................ 20,899 416,935
-----------
TOTAL DIVERSIFIED CONSUMER SERVICES 1,312,688
-----------
DIVERSIFIED FINANCIAL SERVICES 1.6%
CME Group, Inc. ................................ 898 496,145
Moody's Corp. .................................. 7,498 403,392
-----------
TOTAL DIVERSIFIED FINANCIAL SERVICES 899,537
-----------
ELECTRONIC EQUIPMENT & INSTRUMENTS 0.3%
Jabil Circuit, Inc. ............................ 7,626 171,814
-----------
TOTAL ELECTRONIC EQUIPMENT & INSTRUMENTS 171,814
-----------
ENERGY EQUIPMENT & SERVICES 2.8%
BJ Services Co. ................................ 10,770 281,636
Nabors Industries Ltd.*......................... 10,064 294,271
National-Oilwell Varco, Inc.*................... 3,326 399,486
Noble Corp. .................................... 1,892 193,854
Smith International, Inc. ...................... 6,888 422,992
-----------
TOTAL ENERGY EQUIPMENT & SERVICES 1,592,239
-----------
FOOD & STAPLES RETAILING 1.7%
Sysco Corp. .................................... 10,514 335,186
Wal-Mart Stores, Inc. .......................... 7,048 323,856
Walgreen Co. ................................... 7,486 330,731
-----------
TOTAL FOOD & STAPLES RETAILING 989,773
-----------
FOOD PRODUCTS 2.4%
Campbell Soup Co. .............................. 7,272 267,828
Hershey Co...................................... 5,252 242,117
Kellogg Co. .................................... 6,224 322,465
McCormick & Co, Inc. ........................... 6,310 215,550
Wm. Wrigley Jr. Co. ............................ 5,584 322,085
-----------
TOTAL FOOD PRODUCTS 1,370,045
-----------
GAS UTILITIES 0.5%
Questar Corp. .................................. 5,466 281,444
-----------
TOTAL GAS UTILITIES 281,444
-----------
HEALTH CARE EQUIPMENT & SUPPLIES 7.1%
Baxter International, Inc. ..................... 4,310 226,706
Becton Dickinson & Co. ......................... 3,444 262,984
Boston Scientific Corp.*........................ 19,561 257,227
C.R. Bard, Inc. ................................ 3,294 258,480
Hospira, Inc.*.................................. 20,589 796,176
Medtronic, Inc. ................................ 6,792 344,151
St Jude Medical, Inc.*.......................... 10,416 449,346
Stryker Corp. .................................. 8,118 506,807
Varian Medical Systems, Inc.*................... 9,444 385,315
Zimmer Holdings, Inc.*.......................... 7,818 607,928
-----------
TOTAL HEALTH CARE EQUIPMENT & SUPPLIES 4,095,120
-----------
|
See Notes to Financial Statements.
22
RYDEX S&P 500 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
HEALTH CARE PROVIDERS & SERVICES 6.7%
Cardinal Health, Inc. .......................... 5,936 $390,173
Coventry Health Care, Inc.*..................... 12,374 690,593
Express Scripts, Inc.*.......................... 17,659 885,246
Humana, Inc.*................................... 4,182 268,024
Laboratory Corp. of America Holdings*........... 2,780 205,303
Patterson Cos., Inc.*........................... 12,022 431,229
Quest Diagnostics, Inc. ........................ 8,514 472,272
UnitedHealth Group, Inc. ....................... 10,204 494,180
-----------
TOTAL HEALTH CARE PROVIDERS & SERVICES 3,837,020
-----------
HEALTH CARE TECHNOLOGY 0.6%
IMS Health, Inc. ............................... 12,738 358,320
-----------
TOTAL HEALTH CARE TECHNOLOGY 358,320
-----------
HOTELS, RESTAURANTS & LEISURE 2.6%
Darden Restaurants, Inc. ....................... 8,984 382,449
International Game Technology................... 11,454 404,555
Starbucks Corp.*................................ 13,102 349,561
Yum! Brands, Inc. .............................. 10,418 333,793
-----------
TOTAL HOTELS, RESTAURANTS & LEISURE 1,470,358
-----------
HOUSEHOLD DURABLES 1.9%
Black & Decker Corp. ........................... 3,776 326,889
D.R. Horton, Inc. .............................. 20,985 342,475
Harman International Industries, Inc. .......... 3,818 442,888
-----------
TOTAL HOUSEHOLD DURABLES 1,112,252
-----------
HOUSEHOLD PRODUCTS 1.7%
Clorox Co. ..................................... 5,250 317,415
Colgate-Palmolive Co. .......................... 5,048 333,168
Procter & Gamble Co. ........................... 4,760 294,454
-----------
TOTAL HOUSEHOLD PRODUCTS 945,037
-----------
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 0.4%
AES Corp.*...................................... 10,192 200,273
-----------
TOTAL INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 200,273
-----------
INSURANCE 1.9%
Ambac Financial Group, Inc. .................... 4,588 308,084
American International Group, Inc. ............. 4,032 258,774
Progressive Corp. .............................. 23,989 503,289
-----------
TOTAL INSURANCE 1,070,147
-----------
INTERNET & CATALOG RETAIL 2.4%
Amazon.com, Inc.*............................... 17,615 1,383,482
-----------
TOTAL INTERNET & CATALOG RETAIL 1,383,482
-----------
INTERNET SOFTWARE & SERVICES 3.9%
Akamai Technologies, Inc.*...................... 16,090 546,416
eBay, Inc.*..................................... 17,991 582,909
Google, Inc. -- Class A*........................ 1,466 747,660
Yahoo!, Inc.*................................... 15,220 353,865
-----------
TOTAL INTERNET SOFTWARE & SERVICES 2,230,850
-----------
|
See Notes to Financial Statements.
23
RYDEX S&P 500 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
IT SERVICES 4.8%
Affiliated Computer Services, Inc. -- Class A*.. 7,112 $381,630
Automatic Data Processing, Inc. ................ 4,674 216,967
Cognizant Technology Solutions Corp. -- Class
A*........................................... 7,850 635,693
Fidelity National Information Services, Inc. ... 3,594 178,370
First Data Corp. ............................... 18,759 596,348
Fiserv, Inc.*................................... 8,288 409,593
Paychex, Inc. .................................. 7,336 303,564
-----------
TOTAL IT SERVICES 2,722,165
-----------
LIFE SCIENCES TOOLS & SERVICES 1.4%
Applera Corp. -- Applied Biosystems Group....... 4,386 136,931
Millipore Corp.*................................ 2,588 203,443
Waters Corp.*................................... 7,892 459,788
-----------
TOTAL LIFE SCIENCES TOOLS & SERVICES 800,162
-----------
MACHINERY 1.1%
Danaher Corp. .................................. 4,524 337,852
ITT Corp. ...................................... 5,026 316,035
-----------
TOTAL MACHINERY 653,887
-----------
MEDIA 0.9%
McGraw-Hill Cos., Inc. ......................... 3,636 219,978
Omnicom Group, Inc. ............................ 6,182 320,660
-----------
TOTAL MEDIA 540,638
-----------
METALS & MINING 0.9%
Newmont Mining Corp. (Holding Co.).............. 5,614 234,384
Nucor Corp. .................................... 5,744 288,349
-----------
TOTAL METALS & MINING 522,733
-----------
MULTILINE RETAIL 0.6%
Kohl's Corp.*................................... 5,818 353,734
-----------
TOTAL MULTILINE RETAIL 353,734
-----------
OIL, GAS & CONSUMABLE FUELS 7.2%
Anadarko Petroleum Corp. ....................... 8,246 415,021
Apache Corp. ................................... 7,978 644,942
Chesapeake Energy Corp. ........................ 13,176 448,511
Devon Energy Corp. ............................. 7,284 543,459
EOG Resources, Inc. ............................ 6,824 478,362
Exxon Mobil Corp. .............................. 3,722 316,854
Murphy Oil Corp. ............................... 8,150 505,626
XTO Energy, Inc. ............................... 14,128 770,400
-----------
TOTAL OIL, GAS & CONSUMABLE FUELS 4,123,175
-----------
PERSONAL PRODUCTS 1.2%
Avon Products, Inc. ............................ 11,080 398,991
Estee Lauder Cos., Inc -- Class A............... 6,620 298,032
-----------
TOTAL PERSONAL PRODUCTS 697,023
-----------
PHARMACEUTICALS 3.3%
Allergan, Inc. ................................. 3,188 185,318
Barr Pharmaceuticals, Inc.*..................... 7,710 394,906
Forest Laboratories, Inc.*...................... 12,694 510,299
Johnson & Johnson............................... 4,726 285,923
Mylan Laboratories, Inc. ....................... 16,397 262,844
Wyeth........................................... 4,974 241,339
-----------
TOTAL PHARMACEUTICALS 1,880,629
-----------
|
See Notes to Financial Statements.
24
RYDEX S&P 500 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 1.7%
KLA-Tencor Corp. ............................... 2,748 $156,059
National Semiconductor Corp. ................... 11,818 307,150
NVIDIA Corp.*................................... 11,636 532,463
-----------
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 995,672
-----------
SOFTWARE 4.6%
Adobe Systems, Inc.*............................ 8,236 331,828
Autodesk, Inc.*................................. 6,824 289,133
Citrix Systems, Inc.*........................... 10,780 389,913
Electronic Arts, Inc.*.......................... 8,780 427,059
Intuit, Inc.*................................... 18,975 543,444
Oracle Corp.*................................... 18,065 345,403
Symantec Corp.*................................. 17,369 333,485
-----------
TOTAL SOFTWARE 2,660,265
-----------
SPECIALTY RETAIL 7.0%
Abercrombie & Fitch Co. -- Class A.............. 6,320 441,768
AutoZone, Inc.*................................. 4,300 545,283
Bed Bath & Beyond, Inc.*........................ 13,390 463,830
Best Buy Co., Inc. ............................. 8,568 382,047
Home Depot, Inc. ............................... 9,294 345,458
Lowe's Cos., Inc. .............................. 13,850 387,939
RadioShack Corp. ............................... 19,349 486,240
Staples, Inc. .................................. 9,518 219,104
Tiffany & Co. .................................. 6,204 299,343
TJX Cos., Inc. ................................. 16,033 444,916
-----------
TOTAL SPECIALTY RETAIL 4,015,928
-----------
TEXTILES, APPAREL & LUXURY GOODS 2.7%
Coach, Inc.*.................................... 15,722 714,722
Liz Claiborne, Inc. ............................ 6,662 234,103
Nike, Inc. -- Class B........................... 6,150 347,167
Polo Ralph Lauren Corp. ........................ 2,728 243,747
-----------
TOTAL TEXTILES, APPAREL & LUXURY GOODS 1,539,739
-----------
THRIFTS & MORTGAGE FINANCE 0.7%
Countrywide Financial Corp. .................... 14,406 405,817
-----------
TOTAL THRIFTS & MORTGAGE FINANCE 405,817
-----------
TOTAL COMMON STOCKS
(Cost $56,515,286) 57,168,029
-----------
SHORT TERM INVESTMENTS 0.2%
SSgA Prime Money Market Fund.................... 117,128 117,128
-----------
TOTAL SHORT TERM INVESTMENTS
(Cost $117,128) 117,128
-----------
TOTAL INVESTMENTS 100.0%
(Cost $56,632,414) 57,285,157
-----------
OTHER ASSETS IN EXCESS OF LIABILITIES--0.0%(A) 3,558
-----------
NET ASSETS--100.0% $57,288,715
------------------------------------------------------------------------
|
* Non-Income Producing Security.
(a) Amount represents less than 0.05% of net assets.
See Notes to Financial Statements.
25
RYDEX S&P MIDCAP 400 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS 99.6%
AIRLINES 0.2%
Alaska Air Group, Inc.*......................... 1,940 $45,260
-----------
TOTAL AIRLINES 45,260
-----------
AUTO COMPONENTS 5.8%
ArvinMeritor, Inc. ............................. 12,300 243,909
BorgWarner, Inc. ............................... 2,000 172,900
Lear Corp.*..................................... 16,030 538,287
Modine Manufacturing Co. ....................... 14,380 368,128
-----------
TOTAL AUTO COMPONENTS 1,323,224
-----------
BEVERAGES 0.9%
PepsiAmericas, Inc. ............................ 7,070 195,627
-----------
TOTAL BEVERAGES 195,627
-----------
CHEMICALS 11.0%
Cabot Corp. .................................... 1,640 66,223
Chemtura Corp. ................................. 23,477 244,865
Cytec Industries, Inc. ......................... 2,170 145,369
Ferro Corp. .................................... 13,960 312,006
Lubrizol Corp. ................................. 2,930 183,594
Lyondell Chemical Co. .......................... 16,800 754,320
Olin Corp. ..................................... 20,260 422,826
RPM International, Inc. ........................ 8,710 204,772
Sensient Technologies Corp. .................... 6,050 153,670
-----------
TOTAL CHEMICALS 2,487,645
-----------
COMMERCIAL BANKS 2.2%
Associated Banc-Corp. .......................... 3,760 108,063
Colonial BancGroup, Inc. ....................... 3,378 73,674
FirstMerit Corp. ............................... 6,860 125,744
Greater Bay Bancorp............................. 3,940 105,907
Webster Financial Corp. ........................ 2,020 87,789
-----------
TOTAL COMMERCIAL BANKS 501,177
-----------
COMMERCIAL SERVICES & SUPPLIES 3.1%
Deluxe Corp. ................................... 8,828 333,345
Kelly Services, Inc. ........................... 10,520 261,422
Manpower, Inc. ................................. 1,390 109,880
-----------
TOTAL COMMERCIAL SERVICES & SUPPLIES 704,647
-----------
COMMUNICATIONS EQUIPMENT 0.7%
Andrew Corp.*................................... 11,700 164,502
-----------
TOTAL COMMUNICATIONS EQUIPMENT 164,502
-----------
CONSUMER FINANCE 0.4%
AmeriCredit Corp.*.............................. 4,230 86,038
-----------
TOTAL CONSUMER FINANCE 86,038
-----------
CONTAINERS & PACKAGING 1.4%
Packaging Corp. of America...................... 8,420 214,879
Sonoco Products Co. ............................ 2,520 92,408
-----------
TOTAL CONTAINERS &
PACKAGING 307,287
-----------
ELECTRIC UTILITIES 7.0%
DPL, Inc. ...................................... 3,720 98,878
Great Plains Energy, Inc. ...................... 8,700 241,512
Hawaiian Electric Industries, Inc. ............. 9,438 215,281
Idacorp, Inc. .................................. 4,310 133,437
Northeast Utilities............................. 10,238 279,907
Pepco Holdings, Inc. ........................... 12,040 325,923
Sierra Pacific Resources*....................... 5,600 88,984
Westar Energy, Inc. ............................ 8,460 194,749
-----------
TOTAL ELECTRIC UTILITIES 1,578,671
-----------
|
See Notes to Financial Statements.
26
RYDEX S&P MIDCAP 400 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
ELECTRONIC EQUIPMENT & INSTRUMENTS 6.4%
Arrow Electronics, Inc.*........................ 5,720 $218,618
Avnet, Inc.*.................................... 11,430 432,969
Ingram Micro, Inc. -- Class A*.................. 13,178 264,219
KEMET Corp.*.................................... 12,730 89,619
Tech Data Corp.*................................ 5,090 190,722
Vishay Intertechnology, Inc.*................... 16,560 256,846
-----------
TOTAL ELECTRONIC EQUIPMENT & INSTRUMENTS 1,452,993
-----------
FOOD & STAPLES RETAILING 1.9%
BJ's Wholesale Club, Inc.*...................... 5,890 200,024
Ruddick Corp. .................................. 8,650 240,470
-----------
TOTAL FOOD & STAPLES RETAILING 440,494
-----------
FOOD PRODUCTS 2.7%
J.M. Smucker Co. ............................... 2,840 158,500
Lancaster Colony Corp. ......................... 3,840 148,685
Smithfield Foods, Inc.*......................... 9,680 300,661
-----------
TOTAL FOOD PRODUCTS 607,846
-----------
GAS UTILITIES 4.3%
AGL Resources, Inc. ............................ 5,780 217,906
National Fuel Gas Co. .......................... 4,190 181,636
Oneok, Inc. .................................... 5,960 302,470
WGL Holdings, Inc. ............................. 8,840 264,670
-----------
TOTAL GAS UTILITIES 966,682
-----------
HOTELS, RESTAURANTS & LEISURE 0.6%
Bob Evans Farms, Inc. .......................... 4,190 135,965
-----------
TOTAL HOTELS, RESTAURANTS & LEISURE 135,965
-----------
HOUSEHOLD DURABLES 3.8%
American Greetings Corp. -- Class A............. 8,060 199,324
Beazer Homes USA, Inc. ......................... 6,030 84,360
Furniture Brands International, Inc. ........... 29,697 327,261
Tupperware Brands Corp. ........................ 9,220 239,812
-----------
TOTAL HOUSEHOLD DURABLES 850,757
-----------
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 1.5%
Black Hills Corp. .............................. 8,940 333,462
-----------
TOTAL INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 333,462
-----------
INDUSTRIAL CONGLOMERATES 0.7%
Sequa Corp.*.................................... 960 158,496
-----------
TOTAL INDUSTRIAL CONGLOMERATES 158,496
-----------
INSURANCE 7.4%
American Financial Group, Inc. ................. 4,840 135,956
Fidelity National Financial, Inc. -- Class A.... 7,140 149,154
First American Corp. ........................... 7,530 348,564
Horace Mann Educators Corp. .................... 7,950 141,748
Mercury General Corp. .......................... 3,450 178,641
Ohio Casualty Corp. ............................ 4,080 177,113
Old Republic International Corp. ............... 11,700 214,812
Protective Life Corp. .......................... 2,990 128,630
Unitrin, Inc. .................................. 4,700 199,186
-----------
TOTAL INSURANCE 1,673,804
-----------
LEISURE EQUIPMENT & PRODUCTS 0.5%
Callaway Golf Co. .............................. 6,930 112,474
-----------
TOTAL LEISURE EQUIPMENT & PRODUCTS 112,474
-----------
|
See Notes to Financial Statements.
27
RYDEX S&P MIDCAP 400 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
MACHINERY 2.2%
Kennametal, Inc. ............................... 1,300 $99,658
Pentair, Inc. .................................. 2,470 89,414
Timken Co. ..................................... 9,460 315,964
-----------
TOTAL MACHINERY 505,036
-----------
MARINE 0.7%
Alexander & Baldwin, Inc. ...................... 2,840 153,985
-----------
TOTAL MARINE 153,985
-----------
MEDIA 2.7%
Belo Corp. -- Class A........................... 11,010 197,079
Lee Enterprises, Inc. .......................... 5,800 102,138
Media General, Inc. -- Class A.................. 5,370 151,434
Scholastic Corp.*............................... 5,270 169,588
-----------
TOTAL MEDIA 620,239
-----------
METALS & MINING 1.3%
Worthington Industries.......................... 14,408 298,246
-----------
TOTAL METALS & MINING 298,246
-----------
MULTI-UTILITIES 8.5%
Alliant Energy Corp. ........................... 4,440 164,058
Energy East Corp. .............................. 15,948 403,644
NSTAR........................................... 3,670 115,422
OGE Energy Corp. ............................... 5,700 188,955
PNM Resources, Inc. ............................ 6,170 159,371
Puget Energy, Inc. ............................. 13,480 312,062
SCANA Corp. .................................... 6,980 260,912
Vectren Corp. .................................. 8,930 222,982
Wisconsin Energy Corp. ......................... 2,470 106,037
-----------
TOTAL MULTI-UTILITIES 1,933,443
-----------
MULTILINE RETAIL 0.6%
Saks, Inc. ..................................... 6,980 129,200
-----------
TOTAL MULTILINE RETAIL 129,200
-----------
OIL, GAS & CONSUMABLE FUELS 1.7%
Forest Oil Corp.*............................... 3,550 143,668
Overseas Shipholding Group, Inc. ............... 3,178 246,581
-----------
TOTAL OIL, GAS & CONSUMABLE FUELS 390,249
-----------
PAPER & FOREST PRODUCTS 2.4%
Bowater, Inc. .................................. 16,390 321,572
Louisiana-Pacific Corp. ........................ 11,490 212,795
-----------
TOTAL PAPER & FOREST PRODUCTS 534,367
-----------
REAL ESTATE INVESTMENT TRUSTS (REITS) 5.3%
Cousins Properties, Inc. ....................... 3,830 98,469
Equity One, Inc. ............................... 6,390 147,481
Highwoods Properties, Inc. ..................... 3,040 98,891
Hospitality Properties Trust.................... 3,550 136,178
Liberty Property Trust.......................... 2,800 105,028
Mack-Cali Realty Corp. ......................... 2,710 104,606
Nationwide Health Properties, Inc. ............. 4,250 101,278
Potlatch Corp. ................................. 4,820 210,586
Rayonier, Inc. ................................. 2,960 125,326
Weingarten Realty Investors..................... 1,780 65,166
-----------
TOTAL REAL ESTATE INVESTMENT TRUSTS (REITS) 1,193,009
-----------
ROAD & RAIL 5.4%
Avis Budget Group, Inc.*........................ 24,859 638,131
Con-way, Inc. .................................. 2,390 118,042
Werner Enterprises, Inc. ....................... 7,498 145,761
YRC Worldwide, Inc.*............................ 10,300 330,836
-----------
TOTAL ROAD & RAIL 1,232,770
-----------
|
See Notes to Financial Statements.
28
RYDEX S&P MIDCAP 400 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 0.3%
Fairchild Semiconductor International, Inc.*.... 4,050 $73,912
-----------
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 73,912
-----------
SPECIALTY RETAIL 1.3%
Borders Group, Inc. ............................ 10,950 179,142
Foot Locker, Inc. .............................. 6,640 123,238
-----------
TOTAL SPECIALTY RETAIL 302,380
-----------
THRIFTS & MORTGAGE FINANCE 1.6%
Astoria Financial Corp. ........................ 2,730 64,291
First Niagara Financial Group, Inc. ............ 12,160 156,378
Washington Federal, Inc. ....................... 6,500 146,445
-----------
TOTAL THRIFTS & MORTGAGE FINANCE 367,114
-----------
TOBACCO 1.9%
Universal Corp. ................................ 7,870 434,503
-----------
TOTAL TOBACCO 434,503
-----------
TRADING COMPANIES & DISTRIBUTORS 0.8%
United Rentals, Inc.*........................... 5,340 171,628
-----------
TOTAL TRADING COMPANIES & DISTRIBUTORS 171,628
-----------
WIRELESS TELECOMMUNICATION SERVICES 0.4%
Telephone & Data Systems, Inc. ................. 1,550 102,920
-----------
TOTAL WIRELESS TELECOMMUNICATION SERVICES 102,920
-----------
TOTAL COMMON STOCKS
(Cost $24,092,074) 22,570,053
-----------
SHORT TERM INVESTMENTS 0.3%
SSgA Prime Money Market Fund.................... 58,637 58,637
-----------
TOTAL SHORT TERM INVESTMENTS
(Cost $58,637) 58,637
-----------
TOTAL INVESTMENTS 99.9%
(Cost $24,150,711) 22,628,690
-----------
OTHER ASSETS IN EXCESS OF LIABILITIES--0.1% 19,275
-----------
NET ASSETS--100.0% $22,647,965
-----------------------------------------------------------------------
|
* Non-Income Producing Security.
See Notes to Financial Statements.
29
RYDEX S&P MIDCAP 400 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS 99.8%
AEROSPACE & DEFENSE 1.3%
Alliant Techsystems, Inc.*...................... 1,739 $172,352
-----------
TOTAL AEROSPACE & DEFENSE 172,352
-----------
AIR FREIGHT & LOGISTICS 0.9%
Expeditors International Washington, Inc. ...... 2,678 119,653
-----------
TOTAL AIR FREIGHT & LOGISTICS 119,653
-----------
AIRLINES 0.4%
Airtran Holdings, Inc.*......................... 6,256 61,559
-----------
TOTAL AIRLINES 61,559
-----------
AUTOMOBILES 0.9%
Thor Industries, Inc. .......................... 3,148 129,131
-----------
TOTAL AUTOMOBILES 129,131
-----------
BEVERAGES 1.1%
Hansen Natural Corp.*........................... 3,678 149,143
-----------
TOTAL BEVERAGES 149,143
-----------
BIOTECHNOLOGY 1.0%
Cephalon, Inc.*................................. 1,849 138,934
-----------
TOTAL BIOTECHNOLOGY 138,934
-----------
CAPITAL MARKETS 3.1%
Eaton Vance Corp. .............................. 3,508 146,845
Nuveen Investments, Inc. -- Class A............. 1,909 116,716
SEI Investments Co. ............................ 3,408 92,902
Waddell & Reed Financial, Inc. -- Class A....... 2,978 75,075
-----------
TOTAL CAPITAL MARKETS 431,538
-----------
COMMERCIAL SERVICES & SUPPLIES 4.7%
ChoicePoint, Inc.*.............................. 1,809 70,081
Copart, Inc.*................................... 3,018 84,926
Corporate Executive Board Co. .................. 1,399 94,320
Dun & Bradstreet Corp. ......................... 610 59,634
Mine Safety Appliances Co. ..................... 2,249 102,667
Rollins, Inc. .................................. 4,537 107,981
Stericycle, Inc.*............................... 2,508 120,233
-----------
TOTAL COMMERCIAL SERVICES & SUPPLIES 639,842
-----------
COMMUNICATIONS EQUIPMENT 0.9%
Plantronics, Inc. .............................. 4,487 125,726
-----------
TOTAL COMMUNICATIONS EQUIPMENT 125,726
-----------
COMPUTERS & PERIPHERALS 1.3%
Western Digital Corp.*.......................... 8,225 175,604
-----------
TOTAL COMPUTERS & PERIPHERALS 175,604
-----------
CONSTRUCTION & ENGINEERING 0.7%
Jacobs Engineering Group, Inc.*................. 1,639 101,011
-----------
TOTAL CONSTRUCTION & ENGINEERING 101,011
-----------
DIVERSIFIED CONSUMER SERVICES 6.9%
Career Education Corp.*......................... 6,596 195,769
Corinthian Colleges, Inc.*...................... 13,691 184,418
DeVry, Inc. .................................... 2,009 65,092
ITT Educational Services, Inc.*................. 1,939 204,875
Matthews International Corp. -- Class A......... 2,629 100,585
Strayer Education, Inc. ........................ 1,279 193,807
-----------
TOTAL DIVERSIFIED CONSUMER SERVICES 944,546
-----------
|
See Notes to Financial Statements.
30
RYDEX S&P MIDCAP 400 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
DIVERSIFIED FINANCIAL SERVICES 0.9%
Leucadia National Corp. ........................ 3,458 $130,021
-----------
TOTAL DIVERSIFIED FINANCIAL SERVICES 130,021
-----------
ELECTRICAL EQUIPMENT 1.0%
AMETEK, Inc. ................................... 1,749 68,246
Roper Industries, Inc. ......................... 1,059 63,519
-----------
TOTAL ELECTRICAL EQUIPMENT 131,765
-----------
ELECTRONIC EQUIPMENT & INSTRUMENTS 1.6%
Amphenol Corp. ................................. 2,688 92,091
CDW Corp.*...................................... 1,499 126,171
-----------
TOTAL ELECTRONIC EQUIPMENT & INSTRUMENTS 218,262
-----------
ENERGY EQUIPMENT & SERVICES 2.4%
FMC Technologies, Inc.*......................... 1,159 106,072
Patterson-UTI Energy, Inc. ..................... 3,348 76,669
Superior Energy Services, Inc.*................. 3,567 143,821
-----------
TOTAL ENERGY EQUIPMENT & SERVICES 326,562
-----------
GAS UTILITIES 0.5%
Equitable Resources, Inc. ...................... 1,489 70,147
-----------
TOTAL GAS UTILITIES 70,147
-----------
HEALTH CARE EQUIPMENT & SUPPLIES 5.2%
Cytyc Corp.*.................................... 5,636 237,276
Dentsply International, Inc. ................... 2,798 102,099
Edwards Lifesciences Corp.*..................... 1,039 47,752
Gen-Probe, Inc.*................................ 3,527 222,236
ResMed, Inc.*................................... 2,628 112,952
-----------
TOTAL HEALTH CARE EQUIPMENT & SUPPLIES 722,315
-----------
HEALTH CARE PROVIDERS & SERVICES 5.2%
Apria Healthcare Group, Inc.*................... 5,156 135,190
Community Health Systems, Inc.*................. 4,437 172,599
Health Management Associates, Inc. -- Class A.. 11,223 90,458
Henry Schein, Inc.*............................. 1,709 92,867
Lincare Holdings, Inc.*......................... 3,497 124,808
Universal Health Services, Inc. -- Class B...... 1,769 92,766
-----------
TOTAL HEALTH CARE PROVIDERS & SERVICES 708,688
-----------
HEALTH CARE TECHNOLOGY 0.7%
Cerner Corp.*................................... 1,749 92,470
-----------
TOTAL HEALTH CARE TECHNOLOGY 92,470
-----------
HOTELS, RESTAURANTS & LEISURE 4.1%
Applebee's International, Inc. ................. 4,587 112,840
Brinker International, Inc. .................... 3,248 87,501
Cheesecake Factory*............................. 4,057 99,883
International Speedway Corp. -- Class A......... 1,559 74,661
Ruby Tuesday, Inc. ............................. 3,178 70,711
Scientific Games Corp. -- Class A*.............. 3,558 122,075
-----------
TOTAL HOTELS, RESTAURANTS & LEISURE 567,671
-----------
HOUSEHOLD DURABLES 3.0%
Hovnanian Enterprises, Inc. -- Class A*......... 5,057 66,955
NVR, Inc.*...................................... 270 156,190
Ryland Group, Inc. ............................. 2,778 92,368
Toll Brothers, Inc.*............................ 4,237 92,917
-----------
TOTAL HOUSEHOLD DURABLES 408,430
-----------
|
See Notes to Financial Statements.
31
RYDEX S&P MIDCAP 400 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
HOUSEHOLD PRODUCTS 2.2%
Church & Dwight Co., Inc. ...................... 1,859 $91,203
Energizer Holdings, Inc.*....................... 2,059 207,753
-----------
TOTAL HOUSEHOLD PRODUCTS 298,956
-----------
INSURANCE 3.2%
Brown & Brown, Inc. ............................ 5,037 129,451
Everest Re Group Ltd. .......................... 1,000 98,250
HCC Insurance Holdings, Inc. ................... 2,918 85,439
W.R. Berkley Corp. ............................. 4,407 129,654
-----------
TOTAL INSURANCE 442,794
-----------
IT SERVICES 4.0%
Alliance Data Systems Corp.*.................... 1,599 122,803
CSG Systems International*...................... 2,618 65,502
DST Systems, Inc.*.............................. 2,478 188,006
Global Payments, Inc. .......................... 2,379 88,975
SRA International, Inc. -- Class A*............. 3,308 78,796
-----------
TOTAL IT SERVICES 544,082
-----------
LIFE SCIENCES TOOLS & SERVICES 4.2%
Affymetrix, Inc.*............................... 2,478 60,414
Covance, Inc.*.................................. 800 56,456
Invitrogen Corp.*............................... 1,659 119,116
Pharmaceutical Product Development, Inc. ....... 3,038 101,773
Techne Corp.*................................... 1,929 108,526
Ventana Medical Systems, Inc.*.................. 1,639 136,594
-----------
TOTAL LIFE SCIENCES TOOLS & SERVICES 582,879
-----------
MACHINERY 1.9%
Donaldson Co., Inc. ............................ 2,428 88,355
Graco, Inc. .................................... 2,218 91,027
Oshkosh Truck Corp. ............................ 1,529 87,535
-----------
TOTAL MACHINERY 266,917
-----------
MEDIA 2.8%
Catalina Marketing Corp. ....................... 2,558 77,226
Entercom Communications Corp. -- Class A........ 3,378 76,275
Harte-Hanks, Inc. .............................. 2,289 53,906
John Wiley & Sons, Inc.- Class A................ 2,469 104,414
Valassis Communications, Inc.*.................. 5,666 67,256
-----------
TOTAL MEDIA 379,077
-----------
METALS & MINING 2.2%
Commercial Metals Co. .......................... 4,587 141,463
Steel Dynamics, Inc. ........................... 3,728 156,315
-----------
TOTAL METALS & MINING 297,778
-----------
MULTILINE RETAIL 1.8%
99 Cents Only Stores*........................... 9,634 117,246
Dollar Tree Stores, Inc.*....................... 3,418 130,772
-----------
TOTAL MULTILINE RETAIL 248,018
-----------
OFFICE ELECTRONICS 0.5%
Zebra Technologies Corp. -- Class A*............ 1,769 64,091
-----------
TOTAL OFFICE ELECTRONICS 64,091
-----------
|
See Notes to Financial Statements.
32
RYDEX S&P MIDCAP 400 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
OIL, GAS & CONSUMABLE FUELS 6.7%
Denbury Resources, Inc.*........................ 3,877 $155,080
Frontier Oil Corp. ............................. 4,887 189,274
Newfield Exploration Co.*....................... 2,808 134,924
Pioneer Natural Resources Co. .................. 3,298 150,059
Pogo Producing Co. ............................. 3,158 168,195
Quicksilver Resources, Inc.*.................... 1,839 77,459
Southwestern Energy Co.*........................ 1,129 45,871
-----------
TOTAL OIL, GAS & CONSUMABLE FUELS 920,862
-----------
PERSONAL PRODUCTS 0.8%
NBTY, Inc.*..................................... 2,658 115,729
-----------
TOTAL PERSONAL PRODUCTS 115,729
-----------
PHARMACEUTICALS 4.1%
Endo Pharmaceuticals Holdings, Inc.*............ 5,668 192,769
Medicis Pharmaceutical Corp. -- Class A......... 2,608 74,406
Par Pharmaceutical Cos., Inc.*.................. 8,714 206,435
Sepracor, Inc.*................................. 3,308 93,054
-----------
TOTAL PHARMACEUTICALS 566,664
-----------
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 2.1%
Cree, Inc.*..................................... 4,967 127,255
Silicon Laboratories, Inc.*..................... 4,587 159,765
-----------
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 287,020
-----------
SOFTWARE 2.9%
Activision, Inc.*............................... 2,738 46,847
Fair Isaac Corp. ............................... 1,849 72,592
Jack Henry & Associates, Inc. .................. 3,338 80,179
Macrovision Corp.*.............................. 3,458 82,231
McAfee, Inc.*................................... 3,318 118,983
-----------
TOTAL SOFTWARE 400,832
-----------
SPECIALTY RETAIL 11.3%
Advance Auto Parts, Inc. ....................... 3,398 118,149
Aeropostale, Inc.*.............................. 5,976 227,567
American Eagle Outfitters....................... 2,788 67,637
Chico's FAS, Inc.*.............................. 8,125 157,300
Dick's Sporting Goods, Inc.*.................... 2,019 113,528
GameStop Corp. -- Class A*...................... 5,166 208,448
O'Reilly Automotive, Inc.*...................... 2,798 93,201
Pacific Sunwear Of California*.................. 6,326 113,995
Petsmart, Inc. ................................. 3,758 121,496
Ross Stores, Inc. .............................. 4,057 117,369
Urban Outfitters, Inc.*......................... 5,386 108,043
Williams-Sonoma, Inc. .......................... 3,468 106,780
-----------
TOTAL SPECIALTY RETAIL 1,553,513
-----------
TEXTILES, APPAREL & LUXURY GOODS 0.6%
Timberland Co. -- Class A*...................... 3,668 87,188
-----------
TOTAL TEXTILES, APPAREL & LUXURY GOODS 87,188
-----------
TRADING COMPANIES & DISTRIBUTORS 0.7%
Fastenal Co. ................................... 2,279 102,714
-----------
TOTAL TRADING COMPANIES & DISTRIBUTORS 102,714
-----------
TOTAL COMMON STOCKS
(Cost $13,799,111) 13,724,484
-----------
|
See Notes to Financial Statements.
33
RYDEX S&P MIDCAP 400 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
SHORT TERM INVESTMENTS 0.2%
SSgA Prime Money Market Fund.................... 30,646 $30,646
-----------
TOTAL SHORT TERM INVESTMENTS
(Cost $30,646) 30,646
-----------
TOTAL INVESTMENTS 100.0%
(Cost $13,829,757) 13,755,130
-----------
LIABILITIES IN EXCESS OF OTHER ASSETS--0.0%(A) (1,448)
-----------
NET ASSETS--100.0% $13,753,682
|
* Non-Income Producing Security.
(a) Amount represents less than 0.05% of net assets.
See Notes to Financial Statements.
34
RYDEX S&P SMALLCAP 600 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS 99.5%
AEROSPACE & DEFENSE 0.4%
Applied Signal Technology, Inc. ................ 7,420 $108,035
-----------
TOTAL AEROSPACE & DEFENSE 108,035
-----------
AIRLINES 1.8%
Frontier Airlines Holdings, Inc.*............... 20,759 110,023
Mesa Air Group, Inc.*........................... 35,068 233,202
SkyWest, Inc. .................................. 5,280 117,797
-----------
TOTAL AIRLINES 461,022
-----------
AUTO COMPONENTS 2.0%
Standard Motor Products, Inc. .................. 20,809 259,072
Superior Industries International............... 14,269 263,977
-----------
TOTAL AUTO COMPONENTS 523,049
-----------
AUTOMOBILES 2.3%
Coachmen Industries, Inc. ...................... 24,388 194,616
Fleetwood Enterprises, Inc.*.................... 17,889 169,230
Monaco Coach Corp. ............................. 17,129 238,950
-----------
TOTAL AUTOMOBILES 602,796
-----------
BUILDING PRODUCTS 1.8%
Apogee Enterprises, Inc. ....................... 4,400 113,344
Gibraltar Industries, Inc. ..................... 6,750 130,342
Lennox International, Inc. ..................... 2,510 96,133
Universal Forest Products, Inc. ................ 3,080 121,845
-----------
TOTAL BUILDING PRODUCTS 461,664
-----------
CAPITAL MARKETS 1.1%
LaBranche & Co., Inc.*.......................... 16,779 108,560
Piper Jaffray Cos.*............................. 1,180 56,546
SWS Group, Inc. ................................ 6,170 108,900
-----------
TOTAL CAPITAL MARKETS 274,006
-----------
CHEMICALS 6.9%
Arch Chemicals, Inc. ........................... 4,710 166,640
Georgia Gulf Corp. ............................. 14,009 226,806
Material Sciences Corp.*........................ 7,440 81,840
Omnova Solutions, Inc.*......................... 24,968 141,319
Penford Corp. .................................. 9,429 336,898
PolyOne Corp.*.................................. 29,528 222,050
Quaker Chemical Corp. .......................... 11,039 239,767
Schulman A, Inc. ............................... 10,729 249,127
Tronox, Inc. ................................... 9,489 116,715
-----------
TOTAL CHEMICALS 1,781,162
-----------
COMMERCIAL BANKS 3.4%
Central Pacific Financial Corp. ................ 1,560 44,008
Community Bank System, Inc. .................... 4,850 87,251
First Bancorp................................... 19,009 174,883
First Commonwealth Financial Corp. ............. 9,989 94,696
First Financial Bancorp......................... 5,880 71,912
Irwin Financial Corp. .......................... 3,850 45,122
Provident Bankshares Corp. ..................... 2,630 75,481
South Financial Group, Inc...................... 3,770 81,281
Sterling Bancorp................................ 5,130 74,642
Susquehanna Bancshares, Inc. ................... 4,370 75,601
Whitney Holding Corp. .......................... 2,560 63,974
-----------
TOTAL COMMERCIAL BANKS 888,851
-----------
|
See Notes to Financial Statements.
35
RYDEX S&P SMALLCAP 600 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
COMMERCIAL SERVICES & SUPPLIES 5.5%
ABM Industries, Inc. ........................... 6,000 $150,960
Angelica Corp. ................................. 6,920 151,064
Bowne & Co., Inc. .............................. 4,600 79,764
CDI Corp. ...................................... 5,370 151,917
Spherion Corp.*................................. 39,987 353,085
Standard Register Co. .......................... 24,688 331,807
United Stationers, Inc.*........................ 2,680 170,823
Volt Information Sciences, Inc.*................ 3,130 48,765
-----------
TOTAL COMMERCIAL SERVICES & SUPPLIES 1,438,185
-----------
COMMUNICATIONS EQUIPMENT 0.9%
Inter-Tel, Inc. ................................ 6,180 153,387
Tollgrade Communications, Inc.*................. 8,149 84,098
-----------
TOTAL COMMUNICATIONS EQUIPMENT 237,485
-----------
COMPUTERS & PERIPHERALS 0.3%
Adaptec, Inc.*.................................. 22,379 78,327
-----------
TOTAL COMPUTERS & PERIPHERALS 78,327
-----------
CONSTRUCTION & ENGINEERING 0.7%
Shaw Group, Inc.*............................... 1,760 93,667
URS Corp.*...................................... 1,700 83,742
-----------
TOTAL CONSTRUCTION & ENGINEERING 177,409
-----------
CONTAINERS & PACKAGING 2.1%
Caraustar Industries, Inc.*..................... 19,499 93,985
Chesapeake Corp. ............................... 25,178 280,735
Rock-Tenn Co. .................................. 5,160 158,515
-----------
TOTAL CONTAINERS & PACKAGING 533,235
-----------
DISTRIBUTORS 1.0%
Audiovox Corp. -- Class A*...................... 8,739 88,438
Building Materials Holding Corp. ............... 12,229 169,861
-----------
TOTAL DISTRIBUTORS 258,299
-----------
ELECTRIC UTILITIES 3.7%
Allete, Inc. ................................... 2,340 102,586
Central Vermont Public Service Corp. ........... 12,399 421,566
Cleco Corp. .................................... 7,939 188,551
UIL Holdings Corp. ............................. 3,780 111,812
Unisource Energy Corp. ......................... 4,260 129,632
-----------
TOTAL ELECTRIC UTILITIES 954,147
-----------
ELECTRICAL EQUIPMENT 2.0%
AO Smith Corp. ................................. 4,340 210,707
C&D Technologies, Inc.*......................... 65,966 317,956
-----------
TOTAL ELECTRICAL EQUIPMENT 528,663
-----------
ELECTRONIC EQUIPMENT & INSTRUMENTS 5.4%
Agilysys, Inc. ................................. 15,109 290,244
Anixter International, Inc.*.................... 3,170 262,001
Bell Microproducts, Inc.*....................... 30,928 194,228
Brightpoint, Inc.*.............................. 10,449 137,195
CTS Corp. ...................................... 4,320 55,037
Insight Enterprises, Inc.*...................... 8,449 190,609
Methode Electronics, Inc. ...................... 10,599 171,386
Park Electrochemical Corp. ..................... 3,420 101,403
-----------
TOTAL ELECTRONIC EQUIPMENT & INSTRUMENTS 1,402,103
-----------
|
See Notes to Financial Statements.
36
RYDEX S&P SMALLCAP 600 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
FOOD & STAPLES RETAILING 5.1%
Casey's General Stores, Inc. ................... 4,030 $100,468
Longs Drug Stores Corp. ........................ 4,630 223,907
Nash Finch Co. ................................. 14,689 591,526
Performance Food Group Co.*..................... 8,549 245,014
Spartan Stores, Inc. ........................... 5,440 159,229
-----------
TOTAL FOOD & STAPLES RETAILING 1,320,144
-----------
FOOD PRODUCTS 0.6%
Lance, Inc. .................................... 6,400 161,216
-----------
TOTAL FOOD PRODUCTS 161,216
-----------
GAS UTILITIES 4.1%
Atmos Energy Corp. ............................. 7,870 220,911
Laclede Group, Inc.............................. 6,120 180,846
New Jersey Resources Corp. ..................... 2,460 115,620
Northwest Natural Gas Co. ...................... 2,960 123,343
Piedmont Natural Gas Co. ....................... 4,150 96,239
South Jersey Industries, Inc. .................. 2,620 85,857
Southwest Gas Corp. ............................ 3,690 114,685
UGI Corp. ...................................... 4,700 121,307
-----------
TOTAL GAS UTILITIES 1,058,808
-----------
HEALTH CARE EQUIPMENT & SUPPLIES 1.9%
Datascope Corp. ................................ 4,590 157,942
Invacare Corp. ................................. 6,570 135,013
Theragenics Corp.*.............................. 49,087 193,894
-----------
TOTAL HEALTH CARE EQUIPMENT & SUPPLIES 486,849
-----------
HEALTH CARE PROVIDERS & SERVICES 2.8%
Gentiva Health Services, Inc.*.................. 4,390 87,668
MedCath Corp.*.................................. 4,000 121,160
Owens & Minor, Inc. ............................ 6,360 244,542
RehabCare Group, Inc.*.......................... 12,409 175,836
Res-Care, Inc.*................................. 4,800 93,264
-----------
TOTAL HEALTH CARE PROVIDERS & SERVICES 722,470
-----------
HOTELS, RESTAURANTS & LEISURE 1.3%
Landry's Restaurants, Inc. ..................... 5,370 142,251
Marcus Corp. ................................... 3,880 76,358
O'Charleys, Inc. ............................... 6,990 123,933
-----------
TOTAL HOTELS, RESTAURANTS & LEISURE 342,542
-----------
HOUSEHOLD DURABLES 6.8%
Bassett Furniture Industries, Inc. ............. 16,809 219,694
Champion Enterprises, Inc.*..................... 6,830 80,048
Ethan Allen Interiors, Inc. .................... 1,500 51,240
La-Z-Boy, Inc. ................................. 30,038 300,680
Libbey, Inc. ................................... 31,398 626,390
M/I Homes, Inc. ................................ 6,890 169,149
National Presto Industries, Inc. ............... 1,740 97,701
Skyline Corp. .................................. 2,210 61,769
Standard-Pacific Corp. ......................... 9,949 147,345
-----------
TOTAL HOUSEHOLD DURABLES 1,754,016
-----------
HOUSEHOLD PRODUCTS 0.2%
Spectrum Brands, Inc.*.......................... 10,609 46,574
-----------
TOTAL HOUSEHOLD PRODUCTS 46,574
-----------
|
See Notes to Financial Statements.
37
RYDEX S&P SMALLCAP 600 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
INDUSTRIAL CONGLOMERATES 0.8%
Standex International Corp. .................... 5,740 $136,038
Tredegar Corp. ................................. 4,270 78,397
-----------
TOTAL INDUSTRIAL CONGLOMERATES 214,435
-----------
INSURANCE 3.8%
LandAmerica Financial Group, Inc. .............. 5,540 424,309
Presidential Life Corp. ........................ 5,700 92,967
Safety Insurance Group, Inc. ................... 1,250 41,625
SCPIE Holdings, Inc.*........................... 2,120 47,636
Selective Insurance Group....................... 3,400 69,768
Stewart Information Services Corp. ............. 8,349 304,572
-----------
TOTAL INSURANCE 980,877
-----------
INTERNET SOFTWARE & SERVICES 2.4%
MIVA, Inc.*..................................... 72,585 468,173
United Online, Inc. ............................ 11,499 162,366
-----------
TOTAL INTERNET SOFTWARE & SERVICES 630,539
-----------
IT SERVICES 1.2%
Ciber, Inc.*.................................... 21,039 159,686
Startek, Inc. .................................. 14,989 164,279
-----------
TOTAL IT SERVICES 323,965
-----------
LEISURE EQUIPMENT & PRODUCTS 1.6%
Arctic Cat, Inc. ............................... 9,849 178,464
Jakks Pacific, Inc.*............................ 3,770 89,387
K2, Inc.*....................................... 9,979 145,793
-----------
TOTAL LEISURE EQUIPMENT & PRODUCTS 413,644
-----------
MACHINERY 3.2%
Albany International Corp. -- Class A........... 2,500 93,700
Barnes Group, Inc. ............................. 3,490 108,888
Briggs & Stratton Corp. ........................ 8,639 245,002
Lydall, Inc.*................................... 15,199 175,548
Mueller Industries, Inc. ....................... 2,620 96,626
Wabash National Corp. .......................... 9,479 120,478
-----------
TOTAL MACHINERY 840,242
-----------
MEDIA 0.4%
Radio One, Inc. -- Class D*..................... 15,419 93,902
-----------
TOTAL MEDIA 93,902
-----------
METALS & MINING 2.5%
AM Castle & Co. ................................ 2,430 80,239
Quanex Corp. ................................... 2,640 118,958
Ryerson, Inc. .................................. 13,919 446,661
-----------
TOTAL METALS & MINING 645,858
-----------
MULTI-UTILITIES 1.2%
Avista Corp. ................................... 7,010 138,938
CH Energy Group, Inc. .......................... 3,870 171,635
-----------
TOTAL MULTI-UTILITIES 310,573
-----------
MULTILINE RETAIL 0.8%
Fred's, Inc. -- Class A......................... 18,419 218,634
-----------
TOTAL MULTILINE RETAIL 218,634
-----------
PAPER & FOREST PRODUCTS 1.8%
Buckeye Technologies, Inc.*..................... 6,970 106,850
Neenah Paper, Inc. ............................. 2,400 92,952
Schweitzer-Mauduit International, Inc. ......... 7,610 173,736
Wausau Paper Corp. ............................. 7,410 82,918
-----------
TOTAL PAPER & FOREST PRODUCTS 456,456
-----------
|
See Notes to Financial Statements.
38
RYDEX S&P SMALLCAP 600 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
PHARMACEUTICALS 0.4%
Alpharma, Inc. -- Class A....................... 4,580 $113,538
-----------
TOTAL PHARMACEUTICALS 113,538
-----------
REAL ESTATE INVESTMENT TRUSTS (REITS) 4.0%
Colonial Properties Trust....................... 2,910 100,657
Entertainment Properties Trust.................. 1,430 63,706
Inland Real Estate Corp. ....................... 4,700 71,064
Kite Realty Group Trust......................... 3,760 60,010
Lexington Corporate Properties Trust............ 6,610 124,731
LTC Properties, Inc. ........................... 5,100 102,357
Medical Properties Trust, Inc. ................. 3,450 38,640
Mid-America Apartment Communities, Inc. ........ 970 43,776
National Retail Properties, Inc. ............... 6,700 145,122
Parkway Properties, Inc. ....................... 2,940 119,305
Senior Housing Properties Trust................. 5,750 99,360
Sovran Self Storage, Inc. ...................... 1,530 65,943
-----------
TOTAL REAL ESTATE INVESTMENT TRUSTS (REITS) 1,034,671
-----------
ROAD & RAIL 0.6%
Arkansas Best Corp. ............................ 4,250 153,127
-----------
TOTAL ROAD & RAIL 153,127
-----------
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 0.3%
Photronics, Inc.*............................... 4,900 68,698
-----------
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 68,698
-----------
SPECIALTY RETAIL 5.0%
Cost Plus, Inc.*................................ 24,688 175,038
Group 1 Automotive, Inc. ....................... 3,520 132,070
Haverty Furniture Cos., Inc. ................... 17,309 192,995
Jo-Ann Stores, Inc.*............................ 8,039 191,409
PEP Boys-Manny Moe & Jack....................... 15,609 264,260
Sonic Automotive, Inc. -- Class A............... 9,109 249,587
Stein Mart, Inc. ............................... 7,580 81,561
-----------
TOTAL SPECIALTY RETAIL 1,286,920
-----------
TEXTILES, APPAREL & LUXURY GOODS 1.2%
Ashworth, Inc.*................................. 27,978 197,525
Kellwood Co. ................................... 4,800 123,072
-----------
TOTAL TEXTILES, APPAREL & LUXURY GOODS 320,597
-----------
THRIFTS & MORTGAGE FINANCE 2.8%
Bank Mutual Corp. .............................. 5,060 53,130
Brookline Bancorp, Inc. ........................ 10,729 110,187
Dime Community Bancshares....................... 9,639 107,861
Flagstar Bancorp, Inc. ......................... 20,439 218,697
Fremont General Corp. .......................... 12,569 72,523
MAF Bancorp, Inc. .............................. 2,010 105,565
TrustCo Bank Corp. NY........................... 6,710 62,269
-----------
TOTAL THRIFTS & MORTGAGE FINANCE 730,232
-----------
TOBACCO 0.6%
Alliance One International, Inc.*............... 16,829 145,571
-----------
TOTAL TOBACCO 145,571
-----------
|
See Notes to Financial Statements.
39
RYDEX S&P SMALLCAP 600 PURE VALUE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
TRADING COMPANIES & DISTRIBUTORS 0.8%
Kaman Corp. .................................... 6,520 $218,355
-----------
TOTAL TRADING COMPANIES & DISTRIBUTORS 218,355
-----------
TOTAL COMMON STOCKS
(Cost $27,164,301) 25,801,891
-----------
SHORT TERM INVESTMENTS 0.4%
SSgA Prime Money Market Fund.................... 116,738 116,738
-----------
TOTAL SHORT TERM INVESTMENTS
(Cost $116,738) 116,738
-----------
TOTAL INVESTMENTS 99.9%
(Cost $27,281,039) 25,918,629
-----------
OTHER ASSETS IN EXCESS OF LIABILITIES--0.1% 17,427
-----------
NET ASSETS--100.0% $25,936,056
------------------------------------------------------------------------
|
* Non-Income Producing Security.
See Notes to Financial Statements.
40
RYDEX S&P SMALLCAP 600 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS 99.7%
AEROSPACE & DEFENSE 2.0%
Ceradyne, Inc.*................................. 1,660 $123,886
Curtiss-Wright Corp. ........................... 1,950 84,961
-----------
TOTAL AEROSPACE & DEFENSE 208,847
-----------
AIR FREIGHT & LOGISTICS 0.6%
Forward Air Corp. .............................. 1,700 57,919
-----------
TOTAL AIR FREIGHT & LOGISTICS 57,919
-----------
AUTO COMPONENTS 0.7%
Drew Industries, Inc.*.......................... 2,260 78,603
-----------
TOTAL AUTO COMPONENTS 78,603
-----------
AUTOMOBILES 0.6%
Winnebago Industries............................ 2,420 65,292
-----------
TOTAL AUTOMOBILES 65,292
BUILDING PRODUCTS 0.7%
Simpson Manufacturing Co., Inc. ................ 2,040 69,013
-----------
TOTAL BUILDING PRODUCTS 69,013
-----------
CAPITAL MARKETS 0.4%
Investment Technology Group, Inc.*.............. 950 37,962
-----------
TOTAL CAPITAL MARKETS 37,962
-----------
COMMERCIAL BANKS 2.5%
Cascade Bancorp................................. 1,720 37,513
East West Bancorp, Inc. ........................ 1,140 41,792
Nara Bancorp, Inc. ............................. 3,320 49,003
PrivateBancorp, Inc. ........................... 1,420 38,340
UCBH Holdings, Inc. ............................ 3,170 52,115
Wilshire Bancorp, Inc. ......................... 4,640 47,653
-----------
TOTAL COMMERCIAL BANKS 266,416
-----------
COMMERCIAL SERVICES & SUPPLIES 1.1%
Mobile Mini, Inc.*.............................. 1,470 41,998
Waste Connections, Inc.*........................ 2,300 71,300
-----------
TOTAL COMMERCIAL SERVICES & SUPPLIES 113,298
-----------
COMMUNICATIONS EQUIPMENT 1.6%
Comtech Telecommunications Corp.*............... 1,690 73,464
NETGEAR, Inc.*.................................. 3,550 98,193
-----------
TOTAL COMMUNICATIONS EQUIPMENT 171,657
-----------
COMPUTERS & PERIPHERALS 3.0%
Komag, Inc.*.................................... 3,150 100,832
Neoware, Inc.*.................................. 9,020 142,606
Synaptics, Inc.*................................ 2,120 74,454
-----------
TOTAL COMPUTERS & PERIPHERALS 317,892
-----------
CONSTRUCTION MATERIALS 0.8%
Headwaters, Inc.*............................... 5,010 80,811
-----------
TOTAL CONSTRUCTION MATERIALS 80,811
-----------
CONSUMER FINANCE 1.1%
Rewards Network, Inc.*.......................... 16,440 61,979
World Acceptance Corp.*......................... 1,510 48,607
-----------
TOTAL CONSUMER FINANCE 110,586
-----------
DISTRIBUTORS 0.8%
LKQ Corp.*...................................... 2,790 79,320
-----------
TOTAL DISTRIBUTORS 79,320
-----------
DIVERSIFIED CONSUMER SERVICES 4.3%
Bright Horizons Family Solutions, Inc.*......... 1,520 58,976
Coinstar, Inc.*................................. 3,840 119,117
|
See Notes to Financial Statements.
41
RYDEX S&P SMALLCAP 600 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
Pre-Paid Legal Services, Inc.*.................. 2,200 $115,940
Vertrue, Inc.*.................................. 3,170 156,629
-----------
TOTAL DIVERSIFIED CONSUMER SERVICES 450,662
-----------
DIVERSIFIED FINANCIAL SERVICES 1.2%
Portfolio Recovery Associates, Inc. ............ 2,310 120,698
-----------
TOTAL DIVERSIFIED FINANCIAL SERVICES 120,698
-----------
DIVERSIFIED TELECOMMUNICATION SERVICES 0.5%
General Communication, Inc. -- Class A*......... 4,300 49,493
-----------
TOTAL DIVERSIFIED TELECOMMUNICATION SERVICES 49,493
-----------
ELECTRONIC EQUIPMENT & INSTRUMENTS 4.5%
Daktronics, Inc. ............................... 1,550 32,953
Flir Systems, Inc.*............................. 3,690 161,068
Itron, Inc.*.................................... 1,540 122,322
Scansource, Inc.*............................... 2,490 66,807
Trimble Navigation Ltd.*........................ 2,700 89,181
-----------
TOTAL ELECTRONIC EQUIPMENT & INSTRUMENTS 472,331
-----------
ENERGY EQUIPMENT & SERVICES 4.1%
CARBO Ceramics, Inc. ........................... 1,670 75,284
Hornbeck Offshore Services, Inc.*............... 2,540 109,347
Oceaneering International, Inc.*................ 1,050 58,968
Unit Corp.*..................................... 1,580 86,995
W-H Energy Services, Inc.*...................... 1,580 101,246
-----------
TOTAL ENERGY EQUIPMENT & SERVICES 431,840
-----------
FOOD & STAPLES RETAILING 0.4%
United Natural Foods, Inc.*..................... 1,600 43,568
-----------
TOTAL FOOD & STAPLES RETAILING 43,568
-----------
FOOD PRODUCTS 1.0%
Sanderson Farms, Inc. .......................... 2,670 106,453
-----------
TOTAL FOOD PRODUCTS 106,453
-----------
HEALTH CARE EQUIPMENT & SUPPLIES 11.6%
American Medical Systems Holdings, Inc.*........ 3,370 61,604
Arthrocare Corp.*............................... 1,220 61,756
Biolase Technology, Inc.*....................... 7,210 50,831
Cooper Cos., Inc................................ 1,490 74,694
Greatbatch, Inc.*............................... 2,380 73,851
Hologic, Inc.*.................................. 1,320 68,376
ICU Medical, Inc.*.............................. 1,050 34,902
Idexx Laboratories, Inc.*....................... 670 67,174
Immucor, Inc.*.................................. 2,730 85,067
Integra LifeSciences Holdings Corp.*............ 2,710 134,551
Kensey Nash Corp.*.............................. 2,170 52,970
Mentor Corp. ................................... 1,390 54,697
Merit Medical Systems, Inc.*.................... 3,880 43,417
PolyMedica Corp. ............................... 1,730 69,875
Possis Medical, Inc.*........................... 9,620 106,974
Respironics, Inc.*.............................. 1,520 69,540
SurModics, Inc.*................................ 2,260 103,666
-----------
TOTAL HEALTH CARE EQUIPMENT & SUPPLIES 1,213,945
-----------
HEALTH CARE PROVIDERS & SERVICES 7.0%
Amedisys, Inc.*................................. 2,030 76,836
AMN Healthcare Services, Inc.*.................. 4,360 93,609
Amsurg Corp.*................................... 2,950 74,163
HealthExtras, Inc.*............................. 3,260 87,466
Healthways, Inc.*............................... 2,130 93,081
|
See Notes to Financial Statements.
42
RYDEX S&P SMALLCAP 600 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
Odyssey HealthCare, Inc.*....................... 4,840 $52,320
Pediatrix Medical Group, Inc.*.................. 1,150 62,054
Sierra Health Services, Inc.*................... 2,340 95,098
Sunrise Senior Living, Inc.*.................... 2,490 99,002
-----------
TOTAL HEALTH CARE PROVIDERS & SERVICES 733,629
-----------
HOTELS, RESTAURANTS & LEISURE 6.0%
CEC Entertainment, Inc.*........................ 1,630 48,101
Jack in the Box, Inc.*.......................... 840 53,752
Monarch Casino & Resort, Inc.*.................. 2,800 79,212
Multimedia Games, Inc.*......................... 10,230 107,210
P.F. Chang's China Bistro, Inc.*................ 2,430 79,558
Panera Bread Co. -- Class A*.................... 1,770 71,933
Papa John's International, Inc.*................ 2,350 64,461
Shuffle Master, Inc.*........................... 3,940 57,248
Sonic Corp.*.................................... 3,220 66,525
-----------
TOTAL HOTELS, RESTAURANTS & LEISURE 628,000
-----------
HOUSEHOLD DURABLES 0.4%
Meritage Homes Corp.*........................... 2,230 43,485
-----------
TOTAL HOUSEHOLD DURABLES 43,485
-----------
INSURANCE 2.1%
Hilb Rogal & Hobbs Co. ......................... 1,520 65,816
Infinity Property & Casualty Corp. ............. 2,470 108,779
Philadelphia Consolidated Holding Co.*.......... 1,310 47,343
-----------
TOTAL INSURANCE 221,938
-----------
INTERNET & CATALOG RETAIL 1.2%
PetMed Express, Inc.*........................... 8,990 131,074
-----------
TOTAL INTERNET & CATALOG RETAIL 131,074
-----------
INTERNET SOFTWARE & SERVICES 3.6%
Bankrate, Inc.*................................. 3,120 139,932
j2 Global Communications, Inc.*................. 4,310 140,679
Websense, Inc.*................................. 4,890 97,604
-----------
TOTAL INTERNET SOFTWARE & SERVICES 378,215
-----------
IT SERVICES 1.6%
CACI International, Inc. -- Class A*............ 1,200 53,328
eFunds Corp.*................................... 1,780 63,635
Mantech International Corp. -- Class A*......... 1,700 55,522
-----------
TOTAL IT SERVICES 172,485
-----------
LEISURE EQUIPMENT & PRODUCTS 1.4%
Nautilus, Inc. ................................. 6,490 63,862
Pool Corp. ..................................... 2,450 82,344
-----------
TOTAL LEISURE EQUIPMENT & PRODUCTS 146,206
-----------
LIFE SCIENCES TOOLS & SERVICES 1.6%
Dionex Corp.*................................... 1,150 78,212
PharmaNet Development Group, Inc.*.............. 3,300 92,400
-----------
TOTAL LIFE SCIENCES TOOLS & SERVICES 170,612
-----------
MACHINERY 1.7%
ASV, Inc.*...................................... 4,070 59,381
Manitowoc Co., Inc. ............................ 610 47,379
Toro Co. ....................................... 1,240 69,713
-----------
TOTAL MACHINERY 176,473
-----------
|
See Notes to Financial Statements.
43
RYDEX S&P SMALLCAP 600 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
MARINE 0.4%
Kirby Corp.*.................................... 1,040 $42,130
-----------
TOTAL MARINE 42,130
-----------
METALS & MINING 2.0%
Chaparral Steel Co. ............................ 1,460 122,699
Cleveland-Cliffs, Inc. ......................... 1,230 85,202
-----------
TOTAL METALS & MINING 207,901
-----------
OIL, GAS & CONSUMABLE FUELS 4.8%
Cabot Oil & Gas Corp. .......................... 1,630 55,746
Helix Energy Solutions Group, Inc.*............. 1,900 74,005
Penn Virginia Corp. ............................ 1,740 67,338
Petroleum Development Corp.*.................... 1,830 73,822
St Mary Land & Exploration Co. ................. 2,660 88,551
Stone Energy Corp.*............................. 2,600 84,500
Swift Energy Co.*............................... 1,440 61,546
-----------
TOTAL OIL, GAS & CONSUMABLE FUELS 505,508
-----------
PERSONAL PRODUCTS 1.1%
Playtex Products, Inc.*......................... 2,100 37,611
USANA Health Sciences, Inc.*.................... 1,970 79,509
-----------
TOTAL PERSONAL PRODUCTS 117,120
-----------
PHARMACEUTICALS 1.4%
Bradley Pharmaceuticals, Inc.*.................. 4,330 69,453
Noven Pharmaceuticals, Inc.*.................... 1,220 21,667
Sciele Pharma, Inc.*............................ 2,270 52,642
-----------
TOTAL PHARMACEUTICALS 143,762
-----------
ROAD & RAIL 1.9%
Heartland Express, Inc. ........................ 3,780 56,360
Knight Transportation, Inc. .................... 3,700 65,268
Landstar System, Inc. .......................... 1,820 82,737
-----------
TOTAL ROAD & RAIL 204,365
-----------
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 2.3%
AMIS Holdings, Inc.*............................ 10,060 103,719
Cabot Microelectronics Corp.*................... 1,650 70,339
Diodes, Inc.*................................... 2,345 62,307
-----------
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 236,365
-----------
SOFTWARE 5.6%
Ansys, Inc.*.................................... 3,060 79,682
Blackbaud, Inc. ................................ 3,360 70,358
EPIQ Systems, Inc.*............................. 6,850 116,793
Factset Research Systems, Inc. ................. 1,560 102,944
Manhattan Associates, Inc.*..................... 1,640 45,707
MICROS Systems, Inc.*........................... 750 39,960
Quality Systems, Inc. .......................... 1,740 67,408
Take-Two Interactive Software, Inc.*............ 3,620 63,821
-----------
TOTAL SOFTWARE 586,673
-----------
SPECIALTY RETAIL 6.3%
Children's Place Retail Stores, Inc.*........... 780 26,606
Christopher & Banks Corp. ...................... 5,060 75,495
Dress Barn, Inc.*............................... 1,890 34,379
Guitar Center, Inc.*............................ 1,300 75,465
Gymboree Corp.*................................. 1,230 52,951
Hibbett Sports, Inc.*........................... 2,200 56,386
HOT Topic, Inc.*................................ 6,980 62,820
Jos. A. Bank Clothiers, Inc.*................... 2,190 75,555
Stage Stores, Inc. ............................. 4,550 81,172
|
See Notes to Financial Statements.
44
RYDEX S&P SMALLCAP 600 PURE GROWTH ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
Tractor Supply Co.*............................. 1,790 $85,061
Tween Brands, Inc.*............................. 910 34,817
-----------
TOTAL SPECIALTY RETAIL 660,707
-----------
TEXTILES, APPAREL & LUXURY GOODS 3.4%
Crocs, Inc.*.................................... 1,310 77,709
Deckers Outdoor Corp.*.......................... 800 82,480
Fossil, Inc.*................................... 2,950 75,373
K-Swiss, Inc. -- Class A........................ 3,060 68,146
Quiksilver, Inc.*............................... 3,800 48,754
-----------
TOTAL TEXTILES, APPAREL & LUXURY GOODS 352,462
-----------
THRIFTS & MORTGAGE FINANCE 0.4%
Franklin Bank Corp.*............................ 3,510 37,662
-----------
TOTAL THRIFTS & MORTGAGE FINANCE 37,662
-----------
TOTAL COMMON STOCKS
(Cost $10,189,109) 10,443,378
-----------
SHORT TERM INVESTMENTS 0.3%
SSgA Prime Money Market Fund.................... 34,397 34,397
-----------
TOTAL SHORT TERM INVESTMENTS
(Cost $34,397) 34,397
-----------
TOTAL INVESTMENTS 100.0%
(Cost $10,223,506) 10,477,775
-----------
LIABILITIES IN EXCESS OF OTHER ASSETS--0.0%(A) (3,016)
-----------
NET ASSETS--100.0% $10,474,759
|
* Non-Income Producing Security.
(a) Amount represents less than 0.05% of net assets.
See Notes to Financial Statements.
45
RYDEX S&P EQUAL WEIGHT CONSUMER DISCRETIONARY ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS 99.9%
AUTO COMPONENTS 2.2%
Goodyear Tire & Rubber Co.*..................... 16,939 $486,488
Johnson Controls, Inc. ......................... 5,277 597,093
-----------
TOTAL AUTO COMPONENTS 1,083,581
-----------
AUTOMOBILES 3.6%
Ford Motor Co.*................................. 69,209 588,969
General Motors Corp. ........................... 17,501 567,032
Harley-Davidson, Inc. .......................... 9,703 556,176
-----------
TOTAL AUTOMOBILES 1,712,177
-----------
DISTRIBUTORS 1.2%
Genuine Parts Co. .............................. 11,954 568,771
-----------
TOTAL DISTRIBUTORS 568,771
-----------
DIVERSIFIED CONSUMER SERVICES 2.6%
Apollo Group, Inc. -- Class A*.................. 12,287 726,285
H&R Block, Inc. ................................ 25,778 514,271
-----------
TOTAL DIVERSIFIED CONSUMER SERVICES 1,240,556
-----------
HOTELS, RESTAURANTS & LEISURE 14.1%
Carnival Corp. ................................. 12,098 536,063
Darden Restaurants, Inc. ....................... 12,736 542,172
Harrah's Entertainment, Inc. ................... 7,045 596,641
Hilton Hotels Corp. ............................ 16,963 749,934
International Game Technology................... 15,276 539,548
Marriott International, Inc. -- Class A......... 12,804 532,006
McDonald's Corp. ............................... 11,429 547,106
Starbucks Corp.*................................ 21,619 576,795
Starwood Hotels & Resorts Worldwide, Inc. ...... 8,396 528,612
Wendy's International, Inc. .................... 15,036 526,711
Wyndham Worldwide Corp.*........................ 15,947 536,617
Yum! Brands, Inc. .............................. 17,552 562,366
-----------
TOTAL HOTELS, RESTAURANTS & LEISURE 6,774,571
-----------
HOUSEHOLD DURABLES 14.2%
Black & Decker Corp. ........................... 6,744 583,828
Centex Corp. ................................... 13,557 505,812
D.R. Horton, Inc. .............................. 27,855 454,594
Fortune Brands, Inc. ........................... 7,471 607,392
Harman International Industries, Inc. .......... 5,121 594,036
KB HOME......................................... 13,591 432,330
Leggett & Platt, Inc. .......................... 25,333 525,153
Lennar Corp. -- Class A......................... 14,111 432,643
Newell Rubbermaid, Inc. ........................ 20,401 539,606
Pulte Homes, Inc. .............................. 23,772 459,750
Snap-On, Inc. .................................. 11,179 584,997
Stanley Works................................... 9,756 539,800
Whirlpool Corp. ................................ 5,293 540,468
-----------
TOTAL HOUSEHOLD DURABLES 6,800,409
-----------
INTERNET & CATALOG RETAIL 2.4%
Amazon.com, Inc.*............................... 8,358 656,437
IAC/InterActiveCorp*............................ 17,290 496,915
-----------
TOTAL INTERNET & CATALOG RETAIL 1,153,352
-----------
LEISURE EQUIPMENT & PRODUCTS 4.3%
Brunswick Corp. ................................ 17,658 493,718
Eastman Kodak Co. .............................. 20,171 509,318
Hasbro, Inc. ................................... 18,879 528,989
Mattel, Inc. ................................... 22,961 526,036
-----------
TOTAL LEISURE EQUIPMENT & PRODUCTS 2,058,061
-----------
MEDIA 19.7%
CBS Corp. -- Class B............................ 18,036 572,102
Clear Channel Communications, Inc. ............. 15,628 576,673
|
See Notes to Financial Statements.
46
RYDEX S&P EQUAL WEIGHT CONSUMER DISCRETIONARY ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
Comcast Corp. -- Class A*....................... 21,453 $563,570
DIRECTV Group, Inc.*............................ 25,627 574,301
Dow Jones & Co., Inc. .......................... 10,331 592,793
E.W. Scripps Co. -- Class A..................... 13,108 537,035
Gannett Co., Inc. .............................. 10,388 518,361
Interpublic Group of Cos., Inc.*................ 52,356 549,214
McGraw-Hill Cos., Inc. ......................... 8,504 514,492
Meredith Corp. ................................. 9,687 547,219
New York Times Co. -- Class A................... 23,097 527,997
News Corp. -- Class A........................... 26,757 565,108
Omnicom Group, Inc. ............................ 11,423 592,511
Time Warner, Inc. .............................. 28,658 551,953
Tribune Co. .................................... 19,826 554,335
Viacom, Inc. -- Class B*........................ 13,855 530,647
Walt Disney Co. ................................ 17,403 574,299
-----------
TOTAL MEDIA 9,442,610
-----------
MULTILINE RETAIL 9.7%
Big Lots, Inc.*................................. 19,698 509,390
Dillard's, Inc. -- Class A...................... 17,066 510,103
Family Dollar Stores, Inc. ..................... 17,151 508,013
Federated Department Stores, Inc. .............. 15,164 546,965
J.C. Penney Holding Co., Inc. .................. 7,859 534,726
Kohl's Corp.*................................... 8,293 504,214
Nordstrom, Inc. ................................ 11,126 529,375
Sears Holdings Corp.*........................... 3,431 469,327
Target Corp. ................................... 9,359 566,875
-----------
TOTAL MULTILINE RETAIL 4,678,988
-----------
SPECIALTY RETAIL 18.8%
Abercrombie & Fitch Co. -- Class A.............. 7,629 533,267
AutoNation, Inc.*............................... 26,528 516,766
AutoZone, Inc.*................................. 4,346 551,116
Bed Bath & Beyond, Inc.*........................ 15,757 545,823
Best Buy Co., Inc. ............................. 12,469 555,993
Circuit City Stores, Inc. ...................... 35,689 424,699
Gap, Inc. ...................................... 31,501 541,817
Home Depot, Inc. ............................... 15,667 582,342
Limited Brands, Inc. ........................... 22,969 554,701
Lowe's Cos., Inc. .............................. 18,978 531,574
Office Depot, Inc.*............................. 17,207 429,487
OfficeMax, Inc. ................................ 14,357 472,058
RadioShack Corp. ............................... 17,697 444,726
Sherwin-Williams Co. ........................... 8,747 609,578
Staples, Inc. .................................. 23,907 550,339
Tiffany & Co. .................................. 12,116 584,597
TJX Cos., Inc. ................................. 20,805 577,339
-----------
TOTAL SPECIALTY RETAIL 9,006,222
-----------
TEXTILES, APPAREL & LUXURY GOODS 7.1%
Coach, Inc.*.................................... 12,222 555,612
Jones Apparel Group, Inc. ...................... 20,741 517,695
Liz Claiborne, Inc. ............................ 16,260 571,376
Nike, Inc. -- Class B........................... 11,228 633,821
Polo Ralph Lauren Corp. ........................ 6,297 562,637
V.F. Corp. ..................................... 6,395 548,627
-----------
TOTAL TEXTILES, APPAREL & LUXURY GOODS 3,389,768
-----------
TOTAL COMMON STOCKS
(Cost $51,876,474) 47,909,066
-----------
|
See Notes to Financial Statements.
47
RYDEX S&P EQUAL WEIGHT CONSUMER DISCRETIONARY ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
SHORT TERM INVESTMENTS 0.1%
SSgA Prime Money Market Fund.................... 52,839 $52,839
-----------
TOTAL SHORT TERM INVESTMENTS
(Cost $52,839) 52,839
-----------
TOTAL INVESTMENTS 100.0%
(Cost $51,929,313) 47,961,905
-----------
LIABILITIES IN EXCESS OF OTHER ASSETS--0.0%(A) (7,036)
-----------
NET ASSETS--100.0% $47,954,869
-----------------------------------------------------------------------
|
* Non-Income Producing Security.
(a) Amount represents less than 0.05% of net assets.
See Notes to Financial Statements.
48
RYDEX S&P EQUAL WEIGHT CONSUMER STAPLES ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
----------------------------------------------------------------------
COMMON STOCKS 99.6%
BEVERAGES 20.6%
Anheuser-Busch Cos., Inc. ...................... 3,760 $183,375
Brown-Forman Corp. -- Class B................... 2,740 182,046
Coca-Cola Co.................................... 3,840 200,102
Coca-Cola Enterprises, Inc. .................... 8,760 198,502
Constellation Brands, Inc. -- Class A*.......... 8,290 181,800
Molson Coors Brewing Co. -- Class B............. 2,160 192,110
Pepsi Bottling Group, Inc. ..................... 5,850 195,741
PepsiCo, Inc. .................................. 2,950 193,579
----------
TOTAL BEVERAGES 1,527,255
----------
FOOD & STAPLES RETAILING 22.8%
Costco Wholesale Corp. ......................... 3,540 211,692
CVS Caremark Corp. ............................. 5,300 186,507
Kroger Co. ..................................... 6,510 169,000
Safeway, Inc. .................................. 5,790 184,527
SUPERVALU, Inc. ................................ 4,190 174,597
Sysco Corp. .................................... 6,060 193,193
Wal-Mart Stores, Inc. .......................... 4,040 185,638
Walgreen Co. ................................... 4,490 198,368
Whole Foods Market, Inc. ....................... 5,020 185,941
----------
TOTAL FOOD & STAPLES RETAILING 1,689,463
----------
FOOD PRODUCTS 32.8%
Archer-Daniels-Midland Co. ..................... 5,750 193,200
Campbell Soup Co. .............................. 5,010 184,518
ConAgra Foods, Inc. ............................ 7,680 194,688
Dean Foods Co. ................................. 6,300 181,251
General Mills, Inc. ............................ 3,330 185,215
H.J. Heinz Co. ................................. 4,180 182,917
Hershey Co...................................... 3,900 179,790
Kellogg Co. .................................... 3,810 197,396
Kraft Foods, Inc. -- Class A.................... 5,630 184,382
McCormick & Co, Inc. ........................... 5,260 179,682
Sara Lee Corp. ................................. 11,110 176,094
Tyson Foods, Inc. -- Class A.................... 8,970 191,061
Wm. Wrigley Jr. Co. ............................ 3,530 203,610
----------
TOTAL FOOD PRODUCTS 2,433,804
----------
HOUSEHOLD PRODUCTS 10.4%
Clorox Co. ..................................... 3,080 186,217
Colgate-Palmolive Co. .......................... 2,990 197,340
Kimberly-Clark Corp. ........................... 2,850 191,719
Procter & Gamble Co. ........................... 3,200 197,952
----------
TOTAL HOUSEHOLD PRODUCTS 773,228
----------
PERSONAL PRODUCTS 5.1%
Avon Products, Inc. ............................ 5,150 185,451
Estee Lauder Cos., Inc -- Class A............... 4,290 193,136
----------
TOTAL PERSONAL PRODUCTS 378,587
----------
TOBACCO 7.9%
Altria Group, Inc. ............................. 2,820 187,445
Reynolds American, Inc. ........................ 3,180 194,521
UST, Inc. ...................................... 3,770 201,884
----------
TOTAL TOBACCO 583,850
----------
TOTAL COMMON STOCKS
(Cost $7,205,679) 7,386,187
----------
|
See Notes to Financial Statements.
49
RYDEX S&P EQUAL WEIGHT CONSUMER STAPLES ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
----------------------------------------------------------------------
SHORT TERM INVESTMENTS 0.3%
SSgA Prime Money Market Fund.................... 26,727 $26,727
----------
TOTAL SHORT TERM INVESTMENTS
(Cost $26,727) 26,727
----------
TOTAL INVESTMENTS 99.9%
(Cost $7,232,406) 7,412,914
----------
OTHER ASSETS IN EXCESS OF LIABILITIES--0.1% 4,782
----------
NET ASSETS--100.0% $7,417,696
|
* Non-Income Producing Security.
See Notes to Financial Statements.
50
RYDEX S&P EQUAL WEIGHT ENERGY ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
----------------------------------------------------------------------
COMMON STOCKS 99.9%
ENERGY EQUIPMENT & SERVICES 39.2%
Baker Hughes, Inc. ............................. 3,360 $265,608
BJ Services Co. ................................ 9,960 260,454
ENSCO International, Inc. ...................... 4,690 286,418
Halliburton Co. ................................ 8,080 291,042
Nabors Industries Ltd.*......................... 8,420 246,201
National-Oilwell Varco, Inc.*................... 2,750 330,302
Noble Corp. .................................... 3,080 315,577
Rowan Cos., Inc. ............................... 7,230 305,034
Schlumberger Ltd. .............................. 3,460 327,731
Smith International, Inc. ...................... 4,920 302,137
Transocean, Inc.*............................... 2,860 307,307
Weatherford International Ltd.*................. 5,190 287,163
----------
TOTAL ENERGY EQUIPMENT & SERVICES 3,524,974
----------
OIL, GAS & CONSUMABLE FUELS 60.7%
Anadarko Petroleum Corp. ....................... 5,510 277,318
Apache Corp. ................................... 3,350 270,814
Chesapeake Energy Corp. ........................ 7,940 270,278
Chevron Corp. .................................. 3,530 300,968
ConocoPhillips.................................. 3,680 297,491
CONSOL Energy, Inc. ............................ 6,090 253,649
Devon Energy Corp. ............................. 3,580 267,104
El Paso Corp. .................................. 17,220 286,713
EOG Resources, Inc. ............................ 3,670 257,267
Exxon Mobil Corp. .............................. 3,430 291,996
Hess Corp. ..................................... 4,810 294,372
Marathon Oil Corp. ............................. 4,480 247,296
Murphy Oil Corp. ............................... 4,880 302,755
Occidental Petroleum Corp. ..................... 4,970 281,898
Peabody Energy Corp. ........................... 5,560 234,966
Spectra Energy Corp. ........................... 11,170 284,500
Sunoco, Inc. ................................... 3,470 231,518
Valero Energy Corp. ............................ 3,830 256,648
Williams Cos., Inc. ............................ 9,260 298,635
XTO Energy, Inc. ............................... 4,660 254,110
----------
TOTAL OIL, GAS & CONSUMABLE FUELS 5,460,296
----------
TOTAL COMMON STOCKS
(Cost $7,350,364) 8,985,270
----------
SHORT TERM INVESTMENTS 0.1%
SSgA Prime Money Market Fund.................... 6,733 6,733
----------
TOTAL SHORT TERM INVESTMENTS
(Cost $6,733) 6,733
----------
TOTAL INVESTMENTS 100.0%
(Cost $7,357,097) 8,992,003
----------
LIABILITIES IN EXCESS OF OTHER ASSETS--0.0%(A) (1,935)
----------
NET ASSETS--100.0% $8,990,068
|
* Non-Income Producing Security.
(a) Amount represents less than 0.05% of net assets.
See Notes to Financial Statements.
51
RYDEX S&P EQUAL WEIGHT FINANCIALS ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
----------------------------------------------------------------------
COMMON STOCKS 99.7%
CAPITAL MARKETS 18.7%
American Capital Strategies Ltd. ............... 1,240 $47,083
Ameriprise Financial, Inc. ..................... 871 52,495
Bank of New York Mellon Corp. .................. 1,261 53,656
Bear Stearns Cos., Inc. ........................ 380 46,064
Charles Schwab Corp. ........................... 2,622 52,781
E*Trade Financial Corp.*........................ 2,322 43,003
Federated Investors, Inc. -- Class B............ 1,452 52,286
Franklin Resources, Inc. ....................... 430 54,769
Goldman Sachs Group, Inc. ...................... 250 47,085
Janus Capital Group, Inc. ...................... 2,032 61,082
Legg Mason, Inc. ............................... 571 51,390
Lehman Brothers Holdings, Inc. ................. 721 44,702
Merrill Lynch & Co., Inc. ...................... 631 46,820
Morgan Stanley.................................. 780 49,819
Northern Trust Corp. ........................... 871 54,403
State Street Corp. ............................. 821 55,032
T. Rowe Price Group, Inc. ...................... 1,081 56,352
----------
TOTAL CAPITAL MARKETS 868,822
----------
COMMERCIAL BANKS 20.9%
BB&T Corp. ..................................... 1,361 50,929
Comerica, Inc. ................................. 921 48,500
Commerce Bancorp, Inc. ......................... 1,692 56,597
Compass Bancshares, Inc. ....................... 821 56,879
Fifth Third Bancorp............................. 1,331 49,101
First Horizon National Corp. ................... 1,471 46,660
Huntington Bancshares, Inc. .................... 2,600 49,920
KeyCorp......................................... 1,582 54,880
M&T Bank Corp. ................................. 521 55,377
Marshall & Ilsley Corp. ........................ 1,171 48,257
National City Corp. ............................ 1,682 49,434
PNC Financial Services Group, Inc. ............. 771 51,387
Regions Financial Corp. ........................ 1,662 49,976
SunTrust Banks, Inc. ........................... 640 50,112
Synovus Financial Corp. ........................ 1,782 49,825
U.S. Bancorp.................................... 1,672 50,076
Wachovia Corp. ................................. 1,061 50,090
Wells Fargo & Co. .............................. 1,581 53,390
Zions Bancorp................................... 701 52,259
----------
TOTAL COMMERCIAL BANKS 973,649
----------
CONSUMER FINANCE 4.2%
American Express Co. ........................... 901 52,744
Capital One Financial Corp. .................... 701 49,603
Discover Financial Services*.................... 1,901 43,818
SLM Corp. ...................................... 1,001 49,219
----------
TOTAL CONSUMER FINANCE 195,384
----------
DIVERSIFIED FINANCIAL SERVICES 6.3%
Bank of America Corp. .......................... 1,141 54,106
CIT Group, Inc. ................................ 981 40,398
Citigroup, Inc. ................................ 1,061 49,411
CME Group, Inc. ................................ 100 55,250
JPMorgan Chase & Co. ........................... 1,121 49,335
Moody's Corp. .................................. 841 45,246
----------
TOTAL DIVERSIFIED FINANCIAL SERVICES 293,746
----------
INSURANCE 26.3%
ACE Ltd. ....................................... 921 53,160
AFLAC, Inc. .................................... 1,081 56,342
Allstate Corp................................... 931 49,483
Ambac Financial Group, Inc. .................... 650 43,648
American International Group, Inc. ............. 791 50,766
Aon Corp. ...................................... 1,342 53,734
Assurant, Inc. ................................. 961 48,742
Chubb Corp. .................................... 1,051 52,981
|
See Notes to Financial Statements.
52
RYDEX S&P EQUAL WEIGHT FINANCIALS ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
Cincinnati Financial Corp. ..................... 1,261 $49,431
Genworth Financial, Inc. -- Class A............. 1,582 48,283
Hartford Financial Services Group, Inc. ........ 561 51,539
Lincoln National Corp. ......................... 781 47,110
Loews Corp. .................................... 1,081 51,239
Marsh & McLennan Cos., Inc. .................... 1,822 50,196
MBIA, Inc. ..................................... 881 49,424
MetLife, Inc. .................................. 860 51,789
Principal Financial Group, Inc. ................ 951 53,627
Progressive Corp. .............................. 2,342 49,135
Prudential Financial, Inc. ..................... 561 49,721
SAFECO Corp. ................................... 911 53,266
Torchmark Corp. ................................ 831 51,140
Travelers Cos., Inc............................. 1,051 53,370
Unum Group ..................................... 2,172 52,780
XL Capital Ltd. -- Class A...................... 690 53,723
----------
TOTAL INSURANCE 1,224,629
----------
REAL ESTATE INVESTMENT TRUSTS (REITS) 15.1%
Apartment Investment & Management Co. -- Class
A............................................ 1,111 46,940
Archstone-Smith Trust........................... 961 55,171
AvalonBay Communities, Inc. .................... 441 47,615
Boston Properties, Inc. ........................ 521 49,229
Developers Diversified Realty Corp. ............ 1,011 48,528
Equity Residential Properties Trust............. 1,211 48,210
General Growth Properties, Inc. ................ 1,061 50,907
Host Hotels & Resorts, Inc. .................... 2,362 49,885
Kimco Realty Corp. ............................. 1,331 49,686
Plum Creek Timber Co., Inc. .................... 1,371 53,277
ProLogis........................................ 921 52,405
Public Storage, Inc. ........................... 690 48,362
Simon Property Group, Inc. ..................... 571 49,409
Vornado Realty Trust............................ 491 52,552
----------
TOTAL REAL ESTATE INVESTMENT TRUSTS (REITS) 702,176
----------
REAL ESTATE MANAGEMENT & DEVELOPMENT 1.1%
CB Richard Ellis Group, Inc. -- Class A*........ 1,472 51,402
----------
TOTAL REAL ESTATE MANAGEMENT & DEVELOPMENT 51,402
----------
THRIFTS & MORTGAGE FINANCE 7.1%
Countrywide Financial Corp. .................... 1,511 42,565
Federal Home Loan Mortgage Corp. ............... 871 49,882
Federal National Mortgage Association........... 831 49,727
Hudson City Bancorp, Inc. ...................... 4,434 54,183
MGIC Investment Corp. .......................... 921 35,606
Sovereign Bancorp, Inc. ........................ 2,512 48,080
Washington Mutual, Inc. ........................ 1,321 49,577
----------
TOTAL THRIFTS & MORTGAGE FINANCE 329,620
----------
TOTAL COMMON STOCKS
(Cost $5,027,364) 4,639,428
----------
|
See Notes to Financial Statements.
53
RYDEX S&P EQUAL WEIGHT FINANCIALS ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
----------------------------------------------------------------------
SHORT TERM INVESTMENTS 0.2%
SSgA Prime Money Market Fund.................... 8,292 $8,292
----------
TOTAL SHORT TERM INVESTMENTS
(Cost $8,292) 8,292
----------
TOTAL INVESTMENTS 99.9%
(Cost $5,035,656) $4,647,720
----------
OTHER ASSETS IN EXCESS OF LIABILITIES--0.1% $5,003
----------
NET ASSETS--100.0% $4,652,723
|
* Non-Income Producing Security.
See Notes to Financial Statements.
54
RYDEX S&P EQUAL WEIGHT HEALTH CARE ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS 99.9%
BIOTECHNOLOGY 9.7%
Amgen, Inc.*.................................... 12,010 $645,417
Biogen Idec, Inc.*.............................. 13,780 779,121
Celgene Corp.*.................................. 11,650 705,524
Genzyme Corp.*.................................. 10,580 667,281
Gilead Sciences, Inc.*.......................... 17,270 642,962
-----------
TOTAL BIOTECHNOLOGY 3,440,305
-----------
HEALTH CARE EQUIPMENT & SUPPLIES 22.4%
Bausch & Lomb, Inc. ............................ 10,200 652,086
Baxter International, Inc. ..................... 12,330 648,558
Becton Dickinson & Co. ......................... 9,240 705,566
Boston Scientific Corp.*........................ 42,990 565,319
C.R. Bard, Inc. ................................ 8,300 651,301
Covidien Ltd.*.................................. 14,910 610,564
Hospira, Inc.*.................................. 17,900 692,193
Medtronic, Inc. ................................ 13,560 687,085
St Jude Medical, Inc.*.......................... 16,340 704,908
Stryker Corp. .................................. 10,750 671,122
Varian Medical Systems, Inc.*................... 17,280 705,024
Zimmer Holdings, Inc.*.......................... 8,230 639,965
-----------
TOTAL HEALTH CARE EQUIPMENT & SUPPLIES 7,933,691
-----------
HEALTH CARE PROVIDERS & SERVICES 30.4%
Aetna, Inc. .................................... 13,940 670,096
AmerisourceBergen Corp. ........................ 13,950 657,184
Cardinal Health, Inc. .......................... 10,040 659,929
CIGNA Corp...................................... 12,970 669,771
Coventry Health Care, Inc.*..................... 11,660 650,745
Express Scripts, Inc.*.......................... 13,990 701,319
Humana, Inc.*................................... 11,540 739,599
Laboratory Corp. of America Holdings*........... 8,900 657,265
Manor Care, Inc. ............................... 10,780 682,913
McKesson Corp. ................................. 11,540 666,550
Medco Health Solutions, Inc.*................... 8,820 716,801
Patterson Cos., Inc.*........................... 19,150 686,910
Quest Diagnostics, Inc. ........................ 13,780 764,377
Tenet Healthcare Corp.*......................... 105,360 545,765
UnitedHealth Group, Inc. ....................... 13,330 645,572
WellPoint, Inc.*................................ 8,690 652,793
-----------
TOTAL HEALTH CARE PROVIDERS & SERVICES 10,767,589
-----------
HEALTH CARE TECHNOLOGY 1.7%
IMS Health, Inc. ............................... 21,730 611,265
-----------
TOTAL HEALTH CARE TECHNOLOGY 611,265
-----------
LIFE SCIENCES TOOLS & SERVICES 10.2%
Applera Corp. -- Applied Biosystems Group....... 24,320 759,270
Millipore Corp.*................................ 9,290 730,287
PerkinElmer, Inc. .............................. 26,200 729,146
Thermo Electron Corp.*.......................... 13,270 692,827
Waters Corp.*................................... 11,630 677,564
-----------
TOTAL LIFE SCIENCES TOOLS & SERVICES 3,589,094
-----------
|
See Notes to Financial Statements.
55
RYDEX S&P EQUAL WEIGHT HEALTH CARE ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
------------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
PHARMACEUTICALS 25.5%
Abbott Laboratories............................. 12,950 $656,435
Allergan, Inc. ................................. 11,920 692,910
Barr Pharmaceuticals, Inc.*..................... 13,380 685,324
Bristol-Myers Squibb Co. ....................... 23,350 663,373
Eli Lilly & Co. ................................ 12,240 662,062
Forest Laboratories, Inc.*...................... 14,710 591,342
Johnson & Johnson............................... 11,260 681,230
King Pharmaceuticals, Inc.*..................... 33,130 563,541
Merck & Co., Inc. .............................. 13,810 685,666
Mylan Laboratories, Inc. ....................... 38,000 609,140
Pfizer, Inc. ................................... 26,700 627,717
Schering-Plough Corp. .......................... 22,800 650,712
Watson Pharmaceuticals, Inc.*................... 22,130 673,195
Wyeth........................................... 12,180 590,974
-----------
TOTAL PHARMACEUTICALS 9,033,621
-----------
TOTAL COMMON STOCKS
(Cost $36,380,339) 35,375,565
-----------
SHORT TERM INVESTMENTS 0.1%
SSgA Prime Money Market Fund.................... 36,390 36,390
-----------
TOTAL SHORT TERM INVESTMENTS
(Cost $36,390) 36,390
-----------
TOTAL INVESTMENTS 100.0%
(Cost $36,416,729) 35,411,955
-----------
LIABILITIES IN EXCESS OF OTHER ASSETS--0.0%(A) (1,272)
-----------
NET ASSETS--100.0% $35,410,683
|
* Non-Income Producing Security.
(a) Amount represents less than 0.05% of net assets.
See Notes to Financial Statements.
56
RYDEX S&P EQUAL WEIGHT INDUSTRIALS ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
----------------------------------------------------------------------
COMMON STOCKS 99.8%
AEROSPACE & DEFENSE 21.4%
Boeing Co. ..................................... 1,680 $173,762
General Dynamics Corp. ......................... 2,060 161,834
Goodrich Corp. ................................. 2,840 178,665
Honeywell International, Inc. .................. 2,840 163,328
L-3 Communications Holdings, Inc. .............. 1,690 164,876
Lockheed Martin Corp. .......................... 1,710 168,401
Northrop Grumman Corp. ......................... 2,150 163,615
Precision Castparts Corp. ...................... 1,390 190,514
Raytheon Co. ................................... 2,940 162,758
Rockwell Collins, Inc. ......................... 2,320 159,384
United Technologies Corp. ...................... 2,320 169,290
----------
TOTAL AEROSPACE & DEFENSE 1,856,427
----------
AIR FREIGHT & LOGISTICS 5.6%
C.H. Robinson Worldwide, Inc. .................. 3,050 148,382
FedEx Corp. .................................... 1,490 165,003
United Parcel Service, Inc. -- Class B.......... 2,250 170,370
----------
TOTAL AIR FREIGHT & LOGISTICS 483,755
----------
AIRLINES 2.0%
Southwest Airlines Co. ......................... 11,379 178,195
----------
TOTAL AIRLINES 178,195
----------
BUILDING PRODUCTS 3.5%
American Standard Cos., Inc. ................... 2,780 150,259
Masco Corp. .................................... 5,639 153,437
----------
TOTAL BUILDING PRODUCTS 303,696
----------
COMMERCIAL SERVICES & SUPPLIES 16.2%
Allied Waste Industries, Inc.*.................. 12,049 155,071
Avery Dennison Corp. ........................... 2,490 152,737
Cintas Corp. ................................... 4,150 151,724
Equifax, Inc. .................................. 3,750 151,725
Monster Worldwide, Inc.*........................ 3,710 144,282
Pitney Bowes, Inc. ............................. 3,620 166,882
R.R. Donnelley & Sons Co. ...................... 3,820 161,433
Robert Half International, Inc. ................ 4,680 159,073
Waste Management, Inc. ......................... 4,230 160,867
----------
TOTAL COMMERCIAL SERVICES & SUPPLIES 1,403,794
----------
CONSTRUCTION & ENGINEERING 2.0%
Fluor Corp. .................................... 1,530 176,730
----------
TOTAL CONSTRUCTION & ENGINEERING 176,730
----------
ELECTRICAL EQUIPMENT 5.6%
Cooper Industries Ltd., -- Class A.............. 2,930 155,056
Emerson Electric Co. ........................... 3,420 160,979
Rockwell Automation, Inc. ...................... 2,380 166,576
----------
TOTAL ELECTRICAL EQUIPMENT 482,611
----------
INDUSTRIAL CONGLOMERATES 7.6%
3M Co. ......................................... 1,890 168,059
General Electric Co. ........................... 4,390 170,156
Textron, Inc. .................................. 1,510 170,464
Tyco International Ltd. ........................ 3,099 146,552
----------
TOTAL INDUSTRIAL CONGLOMERATES 655,231
----------
MACHINERY 24.6%
Caterpillar, Inc. .............................. 2,050 161,540
Cummins, Inc. .................................. 1,700 201,790
Danaher Corp. .................................. 2,250 168,030
Deere & Co. .................................... 1,360 163,771
Dover Corp. .................................... 3,110 158,610
Eaton Corp. .................................... 1,760 171,037
Illinois Tool Works, Inc. ...................... 3,020 166,251
Ingersoll-Rand Co., Ltd. -- Class A............. 3,180 160,018
|
See Notes to Financial Statements.
57
RYDEX S&P EQUAL WEIGHT INDUSTRIALS ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
ITT Corp. ...................................... 2,380 $149,654
PACCAR, Inc. ................................... 1,840 150,549
Pall Corp. ..................................... 3,540 146,981
Parker-Hannifin Corp. .......................... 1,660 163,809
Terex Corp.*.................................... 1,950 168,187
----------
TOTAL MACHINERY 2,130,227
----------
ROAD & RAIL 9.4%
Burlington Northern Santa Fe Corp. ............. 1,850 151,959
CSX Corp. ...................................... 3,660 173,521
Norfolk Southern Corp. ......................... 2,950 158,651
Ryder System, Inc. ............................. 3,150 171,265
Union Pacific Corp. ............................ 1,380 164,413
----------
TOTAL ROAD & RAIL 819,809
----------
TRADING COMPANIES & DISTRIBUTORS 1.9%
W.W. Grainger, Inc. ............................ 1,850 161,616
----------
TOTAL TRADING COMPANIES & DISTRIBUTORS 161,616
----------
TOTAL COMMON STOCKS
(Cost $7,534,975) 8,652,091
----------
SHORT TERM INVESTMENTS 0.2%
SSgA Prime Money Market Fund.................... 13,682 13,682
----------
TOTAL SHORT TERM INVESTMENTS
(Cost $13,682) 13,682
----------
TOTAL INVESTMENTS 100.0%
(Cost $7,548,657) 8,665,773
----------
OTHER ASSETS IN EXCESS OF LIABILITIES--0.0%(A) 224
----------
NET ASSETS--100.0% $8,665,997
----------------------------------------------------------------------
|
* Non-Income Producing Security.
(a) Amount represents less than 0.05% of net assets.
See Notes to Financial Statements.
58
RYDEX S&P EQUAL WEIGHT MATERIALS ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
----------------------------------------------------------------------
COMMON STOCKS 99.6%
CHEMICALS 48.5%
Air Products & Chemicals, Inc. ................. 3,849 $332,438
Ashland, Inc. .................................. 5,038 307,620
Dow Chemical Co................................. 6,981 303,534
Du Pont (E.I.) de Nemours & Co. ................ 6,116 285,801
Eastman Chemical Co. ........................... 4,869 335,085
Ecolab, Inc. ................................... 7,204 303,360
Hercules, Inc.*................................. 16,266 337,682
International Flavors & Fragrances, Inc. ....... 6,054 303,366
Monsanto Co. ................................... 4,814 310,262
PPG Industries, Inc. ........................... 4,195 319,953
Praxair, Inc. .................................. 4,384 335,902
Rohm & Haas Co. ................................ 5,793 327,420
Sigma-Aldrich Corp. ............................ 7,368 333,918
----------
TOTAL CHEMICALS 4,136,341
----------
CONSTRUCTION MATERIALS 2.9%
Vulcan Materials Co. ........................... 2,610 249,829
----------
TOTAL CONSTRUCTION MATERIALS 249,829
----------
CONTAINERS & PACKAGING 17.0%
Ball Corp. ..................................... 5,755 295,059
Bemis Co., Inc. ................................ 9,462 278,845
Pactiv Corp.*................................... 9,726 307,439
Sealed Air Corp. ............................... 10,038 273,535
Temple-Inland, Inc. ............................ 5,028 292,278
----------
TOTAL CONTAINERS & PACKAGING 1,447,156
----------
METALS & MINING 21.0%
Alcoa, Inc. .................................... 7,622 291,160
Allegheny Technologies, Inc. ................... 2,856 299,680
Freeport-McMoRan Copper & Gold, Inc. ........... 3,748 352,237
Newmont Mining Corp. (Holding Co.).............. 7,845 327,529
Nucor Corp. .................................... 4,991 250,548
United States Steel Corp. ...................... 2,717 267,054
----------
TOTAL METALS & MINING 1,788,208
----------
PAPER & FOREST PRODUCTS 10.2%
International Paper Co. ........................ 8,308 307,978
MeadWestvaco Corp. ............................. 8,909 289,899
Weyerhaeuser Co. ............................... 3,834 273,134
----------
TOTAL PAPER & FOREST PRODUCTS 871,011
----------
TOTAL COMMON STOCKS
(Cost $8,339,144) 8,492,545
----------
SHORT TERM INVESTMENTS 0.4%
SSgA Prime Money Market Fund.................... 31,395 31,395
----------
TOTAL SHORT TERM INVESTMENTS
(Cost $31,395) 31,395
----------
TOTAL INVESTMENTS 100.0%
(Cost $8,370,539) 8,523,940
----------
OTHER ASSETS IN EXCESS OF LIABILITIES--0.0%(A) 1,499
----------
NET ASSETS--100.0% $8,525,439
----------------------------------------------------------------------
|
* Non-Income Producing Security.
(a) Amount represents less than 0.05% of net assets.
See Notes to Financial Statements.
59
RYDEX S&P EQUAL WEIGHT TECHNOLOGY ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS 100.0%
COMMUNICATIONS EQUIPMENT 12.8%
Avaya, Inc.*.................................... 10,581 $175,010
Ciena Corp.*.................................... 5,270 192,513
Cisco Systems, Inc.*............................ 6,730 194,564
Corning, Inc.*.................................. 6,870 163,781
JDS Uniphase Corp.*............................. 13,161 188,597
Juniper Networks, Inc.*......................... 7,160 214,514
Motorola, Inc. ................................. 9,921 168,558
QUALCOMM, Inc. ................................. 4,250 177,012
Tellabs, Inc.*.................................. 16,771 190,351
-----------
TOTAL COMMUNICATIONS EQUIPMENT 1,664,900
-----------
COMPUTERS & PERIPHERALS 15.2%
Apple, Inc.*.................................... 1,510 198,958
Dell, Inc.*..................................... 6,510 182,085
EMC Corp.*...................................... 10,511 194,559
Hewlett-Packard Co. ............................ 3,960 182,279
International Business Machines Corp. .......... 1,750 193,637
Lexmark International, Inc. -- Class A*......... 3,550 140,367
NCR Corp.*...................................... 3,430 179,115
Network Appliance, Inc.*........................ 5,760 163,238
QLogic Corp.*................................... 10,641 141,419
SanDisk Corp.*.................................. 4,010 215,056
Sun Microsystems, Inc.*......................... 35,792 182,539
-----------
TOTAL COMPUTERS & PERIPHERALS 1,973,252
-----------
ELECTRONIC EQUIPMENT & INSTRUMENTS 8.3%
Agilent Technologies, Inc.*..................... 4,660 177,779
Jabil Circuit, Inc. ............................ 8,950 201,644
Molex, Inc. .................................... 5,780 163,805
Solectron Corp.*................................ 47,843 179,890
Tektronix, Inc. ................................ 5,700 187,245
Tyco Electronics Ltd.*.......................... 4,520 161,906
-----------
TOTAL ELECTRONIC EQUIPMENT & INSTRUMENTS 1,072,269
-----------
INTERNET SOFTWARE & SERVICES 6.3%
Akamai Technologies, Inc.*...................... 3,570 121,237
eBay, Inc.*..................................... 5,680 184,032
Google, Inc. -- Class A*........................ 360 183,600
VeriSign, Inc.*................................. 6,130 182,000
Yahoo!, Inc.*................................... 6,630 154,147
-----------
TOTAL INTERNET SOFTWARE & SERVICES 825,016
-----------
IT SERVICES 15.6%
Affiliated Computer Services, Inc. -- Class A*.. 3,070 164,736
Automatic Data Processing, Inc. ................ 3,680 170,826
Cognizant Technology Solutions Corp. -- Class
A*........................................... 2,280 184,634
Computer Sciences Corp.*........................ 3,290 183,187
Convergys Corp.*................................ 7,320 139,446
Electronic Data Systems Corp. .................. 6,500 175,435
Fidelity National Information Services, Inc. ... 3,340 165,764
First Data Corp. ............................... 5,520 175,481
Fiserv, Inc.*................................... 3,100 153,202
Paychex, Inc. .................................. 4,500 186,210
Unisys Corp.*................................... 22,061 178,473
Western Union Co................................ 7,830 156,209
-----------
TOTAL IT SERVICES 2,033,603
-----------
OFFICE ELECTRONICS 1.3%
Xerox Corp.*.................................... 9,581 167,284
-----------
TOTAL OFFICE ELECTRONICS 167,284
-----------
|
See Notes to Financial Statements.
60
RYDEX S&P EQUAL WEIGHT TECHNOLOGY ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
-----------------------------------------------------------------------
COMMON STOCKS (CONTINUED)
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 24.8%
Advanced Micro Devices, Inc.*................... 13,311 $180,231
Altera Corp. ................................... 7,980 185,136
Analog Devices, Inc. ........................... 4,820 170,869
Applied Materials, Inc. ........................ 9,180 202,327
Broadcom Corp. -- Class A*...................... 5,860 192,266
Intel Corp. .................................... 7,580 179,040
KLA-Tencor Corp. ............................... 3,250 184,567
Linear Technology Corp. ........................ 4,980 177,537
LSI Logic Corp.*................................ 21,981 158,263
Maxim Integrated Products, Inc. ................ 5,570 176,569
MEMC Electronic Materials, Inc.*................ 3,060 187,639
Micron Technology, Inc.*........................ 14,541 172,602
National Semiconductor Corp. ................... 6,340 164,777
Novellus Systems, Inc.*......................... 5,980 170,550
NVIDIA Corp.*................................... 4,650 212,784
Teradyne, Inc.*................................. 10,481 164,447
Texas Instruments, Inc. ........................ 4,940 173,839
Xilinx, Inc. ................................... 6,580 164,500
-----------
TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT 3,217,943
-----------
SOFTWARE 15.7%
Adobe Systems, Inc.*............................ 4,240 170,830
Autodesk, Inc.*................................. 4,030 170,751
BMC Software, Inc.*............................. 5,630 161,694
CA, Inc. ....................................... 7,050 176,814
Citrix Systems, Inc.*........................... 5,290 191,339
Compuware Corp.*................................ 15,361 143,318
Electronic Arts, Inc.*.......................... 3,680 178,995
Intuit, Inc.*................................... 6,120 175,277
Microsoft Corp. ................................ 5,930 171,911
Novell, Inc.*................................... 22,871 153,464
Oracle Corp.*................................... 9,160 175,139
Symantec Corp.*................................. 9,210 176,832
-----------
TOTAL SOFTWARE 2,046,364
-----------
TOTAL COMMON STOCKS
(Cost $12,325,513) 13,000,631
-----------
SHORT TERM INVESTMENTS 0.0%(A)
SSgA Prime Money Market Fund.................... 5,635 5,635
-----------
TOTAL SHORT TERM INVESTMENTS
(Cost $5,635) 5,635
-----------
TOTAL INVESTMENTS 100.0%
(Cost $12,331,148) 13,006,266
-----------
LIABILITIES IN EXCESS OF OTHER ASSETS--0.0%(A) (4,035)
-----------
NET ASSETS--100.0% $13,002,231
|
* Non-Income Producing Security.
(a) Amount represents less than 0.05% of net assets.
See Notes to Financial Statements.
61
RYDEX S&P EQUAL WEIGHT UTILITIES ETF
SCHEDULE OF INVESTMENTS (Unaudited) July 31, 2007
MARKET
SHARES VALUE
----------------------------------------------------------------------
COMMON STOCKS 99.4%
DIVERSIFIED TELECOMMUNICATION SERVICES 17.2%
AT&T, Inc. ..................................... 5,580 $218,513
CenturyTel, Inc. ............................... 4,610 211,461
Citizens Communications Co. .................... 15,020 216,738
Embarq Corp. ................................... 3,600 222,444
Qwest Communications International, Inc.*....... 23,630 201,564
Verizon Communications, Inc. ................... 5,250 223,755
Windstream Corp. ............................... 15,450 212,592
----------
TOTAL DIVERSIFIED TELECOMMUNICATION SERVICES 1,507,067
----------
ELECTRIC UTILITIES 31.6%
Allegheny Energy, Inc.*......................... 4,330 226,156
American Electric Power Co., Inc. .............. 4,950 215,276
Duke Energy Corp. .............................. 12,079 205,705
Edison International............................ 4,070 215,262
Entergy Corp. .................................. 2,040 203,918
Exelon Corp. ................................... 3,070 215,361
FirstEnergy Corp. .............................. 3,430 208,373
FPL Group, Inc. ................................ 3,730 215,333
Integrys Energy Group, Inc. .................... 4,270 211,322
Pinnacle West Capital Corp. .................... 5,159 193,359
PPL Corp. ...................................... 4,930 232,400
Progress Energy, Inc. .......................... 4,790 209,132
Southern Co. ................................... 6,400 215,296
----------
TOTAL ELECTRIC UTILITIES 2,766,893
----------
GAS UTILITIES 4.7%
Nicor, Inc. .................................... 5,050 199,020
Questar Corp. .................................. 4,120 212,139
----------
TOTAL GAS UTILITIES 411,159
----------
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 9.6%
AES Corp.*...................................... 10,300 202,395
Constellation Energy Group, Inc. ............... 2,520 211,176
Dynegy, Inc.*................................... 23,710 211,256
TXU Corp. ...................................... 3,350 218,588
----------
TOTAL INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 843,415
----------
MULTI-UTILITIES 31.4%
Ameren Corp. ................................... 4,490 215,430
CenterPoint Energy, Inc. ....................... 12,640 208,307
CMS Energy Corp. ............................... 12,820 207,171
Consolidated Edison, Inc. ...................... 4,830 210,974
Dominion Resources, Inc. ....................... 2,650 223,183
DTE Energy Co. ................................. 4,430 205,463
KeySpan Corp. .................................. 5,450 226,448
NiSource, Inc. ................................. 10,629 202,695
PG&E Corp. ..................................... 4,860 208,057
Public Service Enterprise Group, Inc. .......... 2,570 221,406
Sempra Energy................................... 3,810 200,863
TECO Energy, Inc. .............................. 13,310 214,823
Xcel Energy, Inc. .............................. 10,389 210,897
----------
TOTAL MULTI-UTILITIES 2,755,717
----------
WIRELESS TELECOMMUNICATION SERVICES 4.9%
ALLTEL Corp. ................................... 3,360 221,592
Sprint Nextel Corp. ............................ 10,210 209,611
----------
TOTAL WIRELESS TELECOMMUNICATION SERVICES 431,203
----------
TOTAL COMMON STOCKS
(Cost $8,415,309) 8,715,454
----------
|
See Notes to Financial Statements.
62
RYDEX S&P EQUAL WEIGHT UTILITIES ETF
SCHEDULE OF INVESTMENTS (Unaudited) (continued) July 31, 2007
MARKET
SHARES VALUE
----------------------------------------------------------------------
SHORT TERM INVESTMENTS 0.4%
SSgA Prime Money Market Fund.................... 33,645 $33,645
----------
TOTAL SHORT TERM INVESTMENTS
(Cost $33,645) 33,645
----------
TOTAL INVESTMENTS 99.8%
(Cost $8,448,954) 8,749,099
----------
OTHER ASSETS IN EXCESS OF LIABILITIES--0.2% 13,336
----------
NET ASSETS--100.0% $8,762,435
|
* Non-Income Producing Security.
See Notes to Financial Statements.
63
NOTES TO FINANCIAL STATEMENTS (Unaudited) July 31, 2007
SECURITY VALUATION
Securities listed on a domestic securities exchange are valued based on the last
sale price as of the close of regular trading hours on the New York Stock
Exchange or, in the absence of recorded sales, are valued at the most recent bid
price. Securities for which the primary market is the National Association of
Securities Dealers Automated Quotations National Market System ("NASDAQ") are
valued at the NASDAQ Official Closing Price. The Funds invest in money market
mutual funds, which are valued at NAV.
Securities, for which market quotations are not readily available, including
investments that are subject to limitations as to their sale, are valued at fair
value as determined in good faith by the Advisor in accordance with the
procedures adopted by the Board of Trustees. In determining fair value,
consideration is given to market conditions, relative benchmarks and other
financial data.
On September 15, 2006, the Financial Accounting Standards Board ("FASB")
released Statement of Financial Accounting Standard No. 157 Fair Value
Measurement ("FAS 157") which provided enhanced guidance for using fair value to
measure assets and liabilities. The standard requires companies to provide
expanded information about the assets and liabilities measured at fair value and
the potential effect of these fair valuations on an entity's financial
performance. The standard does not expand the use of fair value in any new
circumstances, but provides clarification on acceptable fair valuation methods
and applications. Adoption of FAS 157 is required for fiscal years beginning
after November 15, 2007. The standard is not expected to materially impact the
Funds' financial statements.
64
NOTES TO FINANCIAL STATEMENTS (Unaudited) (continued)
FEDERAL INCOME TAX COST
The identified cost of investments in securities owned by each Fund for federal
income tax purposes was substantially the same as the cost for financial
reporting purposes. Accordingly, gross unrealized appreciation and depreciation
at July 31, 2007 were as follows:
GROSS GROSS NET UNREALIZED
IDENTIFIED UNREALIZED UNREALIZED APPRECIATION
COST APPRECIATION DEPRECIATION (DEPRECIATION)
-------------- ------------ ------------ --------------
Rydex S&P Equal Weight
ETF.................... $2,272,481,671 $206,367,374 $111,465,901 $94,901,473
Rydex Russell Top 50
ETF.................... 588,792,569 32,561,581 18,302,255 14,259,326
Rydex S&P 500 Pure Value
ETF.................... 45,392,593 2,788,933 2,054,743 734,190
Rydex S&P 500 Pure
Growth ETF............. 56,632,414 3,627,653 2,974,910 652,743
Rydex S&P MidCap 400 Pure
Value ETF.............. 24,150,711 680,684 2,202,705 (1,522,021)
Rydex S&P MidCap 400 Pure
Growth ETF............. 13,829,757 1,330,460 1,405,087 (74,627)
Rydex S&P SmallCap 600
Pure Value ETF......... 27,281,039 1,396,133 2,758,543 (1,362,410)
Rydex S&P SmallCap 600
Pure Growth ETF........ 10,223,506 1,135,224 880,955 254,269
Rydex S&P Equal Weight
Consumer Discretionary
ETF.................... 51,929,313 1,361,193 5,328,601 (3,967,408)
Rydex S&P Equal Weight
Consumer Staples ETF... 7,232,406 412,007 231,499 180,508
Rydex S&P Equal Weight
Energy ETF............. 7,357,097 1,699,059 64,153 1,634,906
Rydex S&P Equal Weight
Financials ETF......... 5,035,656 129,370 517,306 (387,936)
Rydex S&P Equal Weight
Health Care ETF........ 36,416,729 761,054 1,765,828 (1,004,774)
Rydex S&P Equal Weight
Industrials ETF........ 7,548,657 1,177,547 60,431 1,117,116
Rydex S&P Equal Weight
Materials ETF.......... 8,370,539 400,006 246,605 153,401
Rydex S&P Equal Weight
Technology ETF......... 12,331,148 1,175,515 500,397 675,118
Rydex S&P Equal Weight
Utilities ETF.......... 8,448,954 625,081 324,936 300,145
|
Other information regarding the Funds is available in the Funds' most recent
Report to Shareholders. This information is also available without charge and
upon request, by calling (800) 820-0888; as well as on the website of the
Securities and Exchange Commission at www.sec.gov.
ITEM 2. CONTROLS AND PROCEDURES.
(a) The President and Treasurer have evaluated the registrant's disclosure
controls and procedures within 90 days of the filing date of this report and
have concluded that these controls and procedures are effective.
(b) There were no significant changes in the registrant's internal controls or
in other factors that could significantly affect these controls subsequent
to the date of their evaluation.
ITEM 3. EXHIBITS.
A separate certification for each principal executive officer and principal
financial officer of the registrant as required by Rule 30a-2(a) under the
Investment Company Act (17 CFR 270.30a-2(a)), exactly as set forth below:
Attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Rydex ETF Trust
By: /s/ Carl Verboncoeur
---------------------------------------------------------------------------
Carl Verboncoeur
President
Date: 9/20/07
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By: /s/ Carl Verboncoeur
---------------------------------------------------------------------------
Carl Verboncoeur
President
Date: 9/20/07
--------------------------------------------------------------------------
By: /s/ Nick Bonos
---------------------------------------------------------------------------
Nick Bonos
Treasurer
Date: 9/20/07
--------------------------------------------------------------------------
|
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