Rydex Investments, with an eye towards providing investors with more ways to diversify their portfolios, has launched three new funds.

The Rydex Commodities Fund, Strengthening Dollar Fund and Weakening Dollar Fund are "useful tools for investors given the potential for flat or range-bound returns from traditional asset classes over the next several years," stated David Reilly, chief portfolio strategist at Rydex.

The Commodities Fund seeks 100 percent, but at a minimum 80 percent, exposure to the commodities market. Portfolio managers expect the fund to be heavily weighted towards oil and other energy commodities, according to the fund's prospectus. The fund has total operating expenses of 155 basis points.

Both of the new dollar funds are benchmarked against the US Dollar Index and are leveraged to return 200 percent of the gain or loss of that index, depending on the fund.

Both Strengthening and Weakening Dollar Funds have total operating expenses of 170 basis points.

"These three funds give investors new options to potentially augment performance at a time when the price of oil and the strength of the U.S. dollar are major influences on both equities and fixed-income investments," stated Reilly.  

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