AMENDMENT, DATED FEBRUARY 11, 2005, TO ADMINISTRATION AND ACCOUNTING AGREEMENT BETWEEN RYDEX ETF TRUST AND THE BANK OF NEW YORK DATED APRIL 23, 2003, AS AMENDED

                                   AMENDMENT,
                            DATED FEBRUARY 11, 2005,
                                       TO
                     ADMINISTRATION AND ACCOUNTING AGREEMENT
                             BETWEEN RYDEX ETF TRUST
                            AND THE BANK OF NEW YORK
                              DATED APRIL 23, 2003,
                                   AS AMENDED





                                  AMENDMENT TO

                                   SCHEDULE A
                                     TO THE
                  FUND ADMINISTRATION AND ACCOUNTING AGREEMENT
                          DATED APRIL 23, 2003 BETWEEN

                                 RYDEX ETF TRUST

                                       AND

                              THE BANK OF NEW YORK

The following amendment is made to Schedule A of the Fund Administration and
Accounting Agreement between Rydex ETF Trust (the "Trust") and The Bank of New
York, dated April 23, 2003, 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:

                                    EXHIBIT A

                                     SERIES

Rydex S&P Equal Weight ETF
RYDEX XXXXXXX TOP 50 ETF

ADDITIONS AND [DELETIONS] ARE 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

                                                /s/ XXXX X. XXXXXXXXXXX
                                                -----------------------
                                                By: Xxxx X. Xxxxxxxxxxx
                                                Title: President



                                                THE BANK OF NEW YORK

                                                /s/ XXXX XXXXXXX
                                                ----------------
                                                By: Xxxx Xxxxxxx
                                                Title: Vice President