yes.....it is supposed to........most boats let water in under the rail.
but instead of silicone.....try siccaflex.....it is a lot better than sillycone ****** end quote ..........
I would not "bead" under your rub rail.. top... yea..under..no..
Under beads will only trap water preventing H2O from running out of that environment.
more boats let water in from not letting water out.
water introduction happens from faulty hull deck joints or improper beading .. use 3m 5200 on counter sink screw holes on your rub rail..snaps .. small mounts only.
Use 4200 on railings, cleats.. soft mount hardware etc.
Make sure you countersink all fasteners or snaps first for a gasket hole.