AMENDMENT DATED FEBRUARY 11, 2005
TO ADVISORY AGREEMENT
BETWEEN RYDEX ETF TRUST
AND PADCO ADVISORS II, INC.
DATED APRIL 30, 2004
AMENDMENT TO
SCHEDULE A
TO THE
ADVISORY AGREEMENT
DATED APRIL 30, 2004 BETWEEN
RYDEX ETF TRUST
AND
PADCO ADVISORS II, INC.
The following amendment is made to Schedule A of the Advisory Agreement between
Rydex ETF Trust (the "Trust") and PADCO Advisors II, Inc. (the "Adviser"), dated
April 30, 2004, as amended to date (the "Agreement"), and is hereby incorporated
into and made a part of the Agreement:
Schedule A of the Agreement is amended, effective February 11, 2005, to read as
follows:
The Trust will pay to the Adviser as compensation for the Adviser's services
rendered, a fee, computed daily at an annual rate based on the average daily net
assets of the respective Fund in accordance the following fee schedule:
FUND RATE
---- ----
Rydex S&P Equal Weight ETF ..................... 0.40%
RYDEX ▇▇▇▇▇▇▇ TOP 50 ETF 0.20%
ADDITIONS AND [DELETIONS] NOTED IN BOLD.
In witness whereof, the parties hereto have caused this Amendment to be
executed in their names and on their behalf and through their duly-authorized
officers as of the 11th day of February, 2005.
RYDEX ETF TRUST
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
-----------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
Title: President
PADCO ADVISORS II, INC.
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
-----------------------
Name: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇▇
Title: Chief Executive Officer