<SEC-DOCUMENT>0001752724-19-182824-index.html : 20191127
<SEC-HEADER>0001752724-19-182824.hdr.sgml : 20191127
<ACCEPTANCE-DATETIME>20191127134248
ACCESSION NUMBER:		0001752724-19-182824
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190930
FILED AS OF DATE:		20191127
PERIOD START:           	20191231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Guggenheim Variable Funds Trust
		CENTRAL INDEX KEY:			0000217087
		IRS NUMBER:				480873454
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-02753
		FILM NUMBER:		191256157

	BUSINESS ADDRESS:	
		STREET 1:		702 KING FARM BOULEVARD
		STREET 2:		SUITE 200
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
		BUSINESS PHONE:		301-296-5100

	MAIL ADDRESS:	
		STREET 1:		702 KING FARM BOULEVARD
		STREET 2:		SUITE 200
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SBL FUND
		DATE OF NAME CHANGE:	19920703
<SERIES-AND-CLASSES-CONTRACTS-DATA>
<EXISTING-SERIES-AND-CLASSES-CONTRACTS>
<SERIES>
<OWNER-CIK>0000217087
<SERIES-ID>S000010058
<SERIES-NAME>SERIES V (SMID CAP VALUE SERIES)
<CLASS-CONTRACT>
<CLASS-CONTRACT-ID>C000027857
<CLASS-CONTRACT-NAME>A
</CLASS-CONTRACT>
</SERIES>
</EXISTING-SERIES-AND-CLASSES-CONTRACTS>
</SERIES-AND-CLASSES-CONTRACTS-DATA>
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
Document 1 - file: primary_doc.html

Document 1 - RAW XML: primary_doc.xml

</DOCUMENT>
<DOCUMENT>
<TYPE>NPORT-EX
<SEQUENCE>2
<FILENAME>fp0046038_nportex_bwxcdxpn.htm
<DESCRIPTION>GUGGENHEIM VARIABLE FUNDS TRUST NQ
<TEXT>
Document 2 - file: fp0046038_nportex_bwxcdxpn.htm

</DOCUMENT>
</SEC-DOCUMENT>