Nikolaos Bonos, 52, has been the Chief Executive Officer of the Sponsor since
May 2009. Mr. Bonos has been a Manager of the Sponsor since September 2005.
Prior to his appointment as Chief Executive Officer, Mr. Bonos served as the
Chief Financial Officer of the Sponsor beginning in September 2005. Mr. Bonos
has served as Executive Officer of Rydex Fund Services, LLC, an affiliate of
the Sponsor, from January 2009 to the present and as Senior Vice President of
Rydex Fund Services, LLC, from December 2003 to August 2006 and Vice President
of Accounting of Rydex Fund Services, LLC, from 2001 to December 2003. Mr. Bonos
also serves as Treasurer and Vice President for certain funds in the Guggenheim
fund complex. Mr. Bonos holds a Bachelor of Science in Business Administration
with a major in Finance from Suffolk University.
Joseph Arruda, 49, has been the Chief Financial Officer of the Sponsor since
May 2009. Mr. Arruda has been a Manager of the Sponsor since July 2009. Prior
to his appointment as Chief Financial Officer, Mr. Arruda served as Vice President,
Fund Accounting, and Administration, of the Sponsor beginning in 2003. Mr. Arruda
also serves as Assistant Treasurer for certain funds in the Guggenheim fund
complex. From 1997 to 2003, Mr. Arruda served as Vice President, Fund Accounting
at State Street Corporation. He holds a Bachelor of Science with a Finance and
Accounting concentration from Bridgewater State College.
Michael Byrum, 45, has served as a Manager of the Sponsor since September 2005.
Since August 2006, he has served as the Chief Investment Officer, of Rydex Advisors
II, LLC (RAII), and Rydex Advisors, LLC (RA), affiliates of the Sponsor, and
each of which were merged into Security Investors, LLC, also an affiliate of
the Sponsor, as of January 3, 2011. Mr. Byrum served as the Executive Vice President
of RAII from December 2002 to May 2004, and as President of RA from May 2004
until January 2011. He has served as Senior Vice President of Security Investors,
LLC, since December 1, 2010. Mr. Byrum is a Chartered Financial Analyst and
has a Bachelor of Science in Business Administration with a major in Finance
from Miami University of Ohio.
