Guggenheim Alpha Opportunity Fund (SAOAX)

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The chart shows the growth of an initial investment of $10,000 in Guggenheim Alpha Opportunity Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Guggenheim Alpha Opportunity Fund (SAOAX) has returned 10.14% so far this year and 4.23% over the past 12 months. Over the last ten years, SAOAX has returned 2.89% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Jan 2, 2004, SAOAX's average daily return is +0.03%, while the average monthly return is +0.58%. At this rate, your investment would double in approximately 10.0 years.

Historically, 60% of months were positive and 40% were negative. The best month was Oct 2011 with a return of +17.0%, while the worst month was Oct 2008 at -17.8%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 5 months.

On a daily basis, SAOAX closed higher 51% of trading days. The best single day was Apr 3, 2025 with a return of +49.2%, while the worst single day was Apr 2, 2025 at -35.1%.

Guggenheim Alpha Opportunity Fund has an annualized alpha of 1.98%, beta of 0.63, and R² of 0.33 versus S&P 500 Index. Calculated based on daily prices since January 05, 2004.

• This fund participated in 76.19% of S&P 500 Index downside but only 69.31% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.63 may look defensive, but with R² of 0.33 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.33 means the benchmark explains less than half of this fund's behavior — treat beta with caution or consider switching to a more representative benchmark.

SAOAX has a high expense ratio of 1.76%, indicating above-average management fees.

SAOAX ranks 22 for risk / return — below 22% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for Guggenheim Alpha Opportunity Fund (SAOAX) and compare them to a chosen benchmark (S&P 500 Index).

Guggenheim Alpha Opportunity Fund provided a 0.65% dividend yield over the last twelve months, with an annual payout of $0.22 per share.

The table displays the monthly dividend distributions for Guggenheim Alpha Opportunity Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Guggenheim Alpha Opportunity Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Guggenheim Alpha Opportunity Fund was 52.28%, occurring on Mar 9, 2009. Recovery took 480 trading sessions.

The current Guggenheim Alpha Opportunity Fund drawdown is 0.47%.

The chart below shows the rolling one-month volatility.