Guggenheim Alpha Opportunity Fund

The fund pursues its objective by investing, under normal market conditions, in long and short positions of domestic equity and equity-related securities. It may invest in domestic equity securities, including small-, mid-, and large-capitalization securities. The fund also may invest in derivative instruments, including swaps on selected baskets of equity securities, to enable the fund to pursue its investment objective without investing directly in the securities of companies to which the fund is seeking exposure.