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INDEPENDENT AUDITORS' CONSENT
We consent to the incorporation by reference in this Post-Effective Amendment
No. 2 to the Rydex Dynamic Funds' Registration Statement No. 333-84797 of our
reports on the Rydex Series Funds dated May 22, 2000 appearing in Rydex Series
Funds Annual Reports to Shareholders for the year ended March 31, 2000. We also
consent to the references to us under the headings "Financial Highlights" in the
Prospectus and "Auditors and Custodian" in the Statement of Additional
Information, all of which are part of such Registration Statement.
Deloitte & Touche LLP
Princeton, New Jersey
October 13, 2000
