Summary

• The Guggenheim Limited Duration Fund returned 0.38 percent for the first quarter of 2026, compared with a 0.32 percent return for the Bloomberg U.S. Aggregate 1–3 Years Index.
• Income generation, supported by the Guggenheim Limited Duration Fund's yield advantage over the benchmark, was the primary driver of both absolute and relative performance during the quarter.
• Following the Iran conflict and the resulting move higher in breakeven inflation rates, the Guggenheim Limited Duration Fund trimmed its allocation to short-dated Treasury Inflation-Protected Securities (TIPS).
• The Guggenheim Limited Duration Fund used the period of spread widening to add modestly to below investment-grade exposure building from a lower-risk posture entering the quarter.
• Within securitized markets, the Guggenheim Limited Duration Fund increased its allocation to structured credit sectors, with a focus on select asset-backed securities and non-qualified mortgage residential mortgage-backed securities.

Performance Review

• The Fund (Institutional Class) returned 0.38 percent for the first quarter of 2026, compared with a 0.32 percent return for the Bloomberg U.S. Aggregate 1–3 Years Index.
• Income generation, supported by the

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