NAA Allocation P (Guggenheim Directional Allocati) Fonds

Under normal circumstances, the fund uses a balanced approach to invest in a broad range of securities, including equity, debt, and securities issued and guaranteed by the U.S. government and federal agencies and instrumentalities. The fund’s asset allocation strategy diversifies equity securities and fixed-income investments. The fund employs a proprietary quantitative model to determine the exposure between equity and fixed income to participate in rising markets while attempting to preserve capital during market declines.