Defensive Market Strategies®(GDMZX)

Net Asset Value

$12.08

Inception Date

9/1/2011

Year to Date

4.77%

Fees & Expenses
  • 0.95%Gross
  • 0.95%Net
Overall Morningstar Rating

Moderate Allocation

Overall rating among 684 funds in this category based upon risk-adjusted returns.

As of 4/30/2024

Investment Objective

Investment Objective
The Fund seeks to provide long-term capital appreciation with reduced volatility compared to equity markets.

Investment Strategy

Investment Strategy
The Fund is actively managed and combines multiple principal investment strategies that, when combined, are intended to result in the Fund obtaining investment returns consistent with the equity market, but with lower volatility when compared to the equity market.

Investment Suitability

Investment Suitability
This Fund may be suitable for investors who have a medium- to long-term investment horizon, possess a moderate tolerance for risk and seek to participate in the return potential of stocks at a slightly lower risk level than an all stock portfolio.

This Fund is subject to credit risk and interest rate risk. Interest rate risk means, when interest rates rise, the value of the existing bonds decreases and vice versa. Changes in interest rates have a bigger impact on long-duration holdings than on short-duration holdings. The value of convertible securities increases and decreases with the value of the underlying common stock, but may also be sensitive to changes in interest rates. Foreign securities may be subject to greater risk than domestic securities due to currency volatility, reduced market liquidity, and political and economic instability. This description of risks is provided as a summary of the principal investment risks associated with this mutual fund. Refer to the Fund’s prospectus for more detailed risk information.

Performance

Net Asset Value
(as of 05/22/2024)
Net Asset Value
$12.08
Inception Date
Inception Date
09/01/2011
FEES AND EXPENSES
(annualized)
Gross
0.95%
Net
0.95%
Daily Performance
(as of 05/22/2024)
One Month
3.51%
Three Month
2.55%
Year To Date
4.77%
One Year
12.11%
Three Year*
3.10%
Five Year*
6.52%
Ten Year*
7.25%
Since Inception*
8.31%
*Returns are annualized.
The performance data quoted represents past performance and does not guarantee future results.
Quarterly Performance
(as of 03/31/2024)
 
Fund
Benchmark
Three Month
6.55%
6.53%
YTD
11.15%
15.55%
One Year
11.15%
15.55%
Three Year*
3.25%
6.44%
Five Year*
7.62%
9.05%
Ten Year*
7.20%
6.82%
Since Inception*
8.17%
7.56%
The performance data quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance data quoted. Performance data current to the most recent month-end and complete calendar year performance may be obtained at GuideStoneFunds.com/Funds. Benchmark performance numbers are provided by Morningstar, Inc. and have not been verified by GuideStone Funds. The investment return of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Year 2011 annual performance began 09/01/2011. The weightings of the Fund's benchmark were modified effective November 30, 2020, and therefore, the weightings of the underlying indexes were different than the current benchmark weightings prior to that date. Benchmark Index performance represents the Fund's current benchmark linked with its previous benchmark. Returns exceeding 20% reflect unusual market conditions and may not be sustained at this level over the long term.
*Returns are annualized.
Annual Performance
(as of 03/31/2024)
 
Fund
Benchmark
2017
12.35%
10.90%
2018
-1.69%
-1.03%
2019
19.38%
16.25%
2020
9.86%
10.00%
2021
11.79%
13.70%
2022
-11.40%
-8.22%
2023
11.15%
15.55%
Benchmark: S&P 500® Index (50%); Bloomberg 1-3 Month U.S. Treasury Bill (50%)
The performance data quoted represents past performance and does not guarantee future results.
Morningstar Rating
(based upon risk-adjusted returns as of 04/30/2024)
Category
Moderate Allocation
Overall (684 funds rated)
Morningstar Overall Rating is 4 of 5 starsMorningstar Overall Rating is 4 of 5 starsMorningstar Overall Rating is 4 of 5 starsMorningstar Overall Rating is 4 of 5 starsMorningstar Overall Rating is 4 of 5 stars
Three-Year (684 funds rated)
Morningstar Three-Year Rating is 3 of 5 starsMorningstar Three-Year Rating is 3 of 5 starsMorningstar Three-Year Rating is 3 of 5 starsMorningstar Three-Year Rating is 3 of 5 starsMorningstar Three-Year Rating is 3 of 5 stars
Five-Year (645 funds rated)
Morningstar Five-Year Rating is 3 of 5 starsMorningstar Five-Year Rating is 3 of 5 starsMorningstar Five-Year Rating is 3 of 5 starsMorningstar Five-Year Rating is 3 of 5 starsMorningstar Five-Year Rating is 3 of 5 stars
Ten-Year (490 funds rated)
Morningstar Ten-Year Rating is 4 of 5 starsMorningstar Ten-Year Rating is 4 of 5 starsMorningstar Ten-Year Rating is 4 of 5 starsMorningstar Ten-Year Rating is 4 of 5 starsMorningstar Ten-Year Rating is 4 of 5 stars

Characteristics

Asset Allocation

(as of 03/31/2024)

 
Fixed Income
82%
 
U.S. Equities
8%
 
Non-U.S. Equities
1%
 
Cash*
9%
 
Total
100%
Cash balances are held by the Fund as collateral for derivatives positions an for liquidity purposes, and may be overlaid with equity and/or U.S. Treasury futures to provide capital market exposure. 
Fund Size ($ in millions)
(as of 03/31/2024)
Total fund net assets for all share classes
$1,443
Number of holdings
185

*Does not include currencies or forward currency contracts.

Benchmark^
(as of 03/31/2024)
 
S&P 500® Index
50%
 
Bloomberg 1-3 Month U.S. Treasury Bill
50%
Sub-adviser Composite
(as of 03/31/2024)
 
American Century Investment Management
10%
 
Shenkman Capital Management
21%
 
PGIM Quantitative Solutions
28%
 
Neuberger Berman Investment Advisers
31%

GuideStone Capital Management, LLC (the “Adviser”), the adviser to the Fund, may invest directly in securities on behalf of the Fund. The Adviser also maintains a sub-advisory agreement with Parametric Portfolio Associates LLC ("Parametric") under which Parametric will provide completion portfolios within the Fund, as instructed by the Adviser. The Adviser’s direct investments and Parametric’s “completion portfolios” are used to assist in preserving the desired risk exposures for the Fund in furtherance of its investment objective. Direct investments and completion portfolios that are short-term in nature are not included in the target allocations of the Fund to sub-advisers listed above.

Top Ten Equity Holdings
(as of 03/31/2024)
 
OPT. S&P 5 P 4770 26/1/24
1.43%
 
OPT. S&P 5 P 4780 26/1/24
1.20%
 
OPT. S&P 5 P 4760 12/1/24
1.15%
 
Microsoft Corp
0.83%
 
OPT. S&P 50 P 4730 5/1/24
0.81%
 
OPT. S&P 5 P 4785 26/1/24
0.78%
 
OPT. S&P 50 P 4750 5/1/24
0.74%
 
OPT. S&P 5 P 4765 12/1/24
0.60%
 
Medtronic PLC
0.48%
 
Berkshire Hathaway Inc Class B
0.47%
Equity Sector Holdings
(as of 03/31/2024)
 
Communication Services
4.25%
 
Consumer Discretionary
2.53%
 
Consumer Staples
15.49%
 
Energy
7.40%
 
Financial Services
16.06%
 
Health Care
13.28%
 
Industrials
11.01%
 
Materials
5.18%
 
Real Estate
2.55%
 
Information Technology
14.16%
 
Utilities
8.09%

Due to rounding, portfolio holdings data may not sum to 100%.

Risk/Return Characteristics

(as of 03/31/2024)

R-Squared
97.22%
R-Squared
97.22%
Beta vs. Benchmark
0.55
Beta vs. Benchmark
0.55
Beta vs. S&P 500 Index
0.55
Beta vs. S&P 500 Index
0.55

Prices and Distributions

Historical Prices & Distributions

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The table below lists NAVs, dividends, long-term capital gains and short-term capital gains for the time period selected.

Date Value Description

Prospectus & Reports

GuideStone Funds shares are distributed by Foreside Funds Distributors LLC, not an adviser affiliate. Foreside is not a registered investment adviser and does not provide investment advice.

Asset allocation subject to change at any time. Pie chart is a representation and actual exposures may differ. The size denotes the relative weighting in the Fund. 

Sub-Adviser Composites are subject to change at any time. The percentages shown reflect the target allocations of the Funds. Actual Sub-Adviser weights may differ at any time.

^Bloomberg 1-3 Month U.S. Treasury Bill tracks the market for treasury bills with 1 to 2.9999 months to maturity issued by the US government. US Treasury bills are issued in fixed maturity terms of 4-, 13-, 26- and 52-weeks. “Standard & Poor’s®”, “S&P®”, “S&P 500®”, “Standard & Poor’s 500” and “500” are trademarks of The McGraw-Hill Companies, Inc. and have been licensed for use by GuideStone Funds. The Product is not sponsored, endorsed, sold or promoted by Standard & Poor’s, and Standard & Poor’s makes no representation regarding the advisability of investing in the Product. “Bloomberg®”, Bloomberg and Bloomberg 1-3 Month US Treasury Bill are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by GuideStone Financial Resources of the Southern Baptist Convention (“GuideStone Financial Resources”) and its affiliates. Bloomberg is not affiliated with GuideStone Financial Resources and its affiliates and Bloomberg does not approve, endorse, review, or recommend the Defensive Market Strategies Fund. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Defensive Market Strategies Fund. Indexes used with permission. It is not possible to invest directly in an index.

Standard Deviation — Depicts how widely returns varied over a certain period of time. A high standard deviation implies greater volatility and greater risk.

R-squared — Shows the percentage of a fund's performance that is explained by movements in the benchmark index. An R-squared of 100% indicates that all movements of a fund can be explained by movements in the benchmark.

Beta vs. Benchmark — Beta is a measure of a fund's sensitivity to market movements as defined by a fund’s benchmark. A fund with a higher beta relative to the benchmark is more volatile than the benchmark.

Beta vs. S&P 500® Index — Beta is a measure of a fund’s sensitivity to market movements as defined by the S&P 500® Index. A fund with a higher beta relative to the S&P 500® Index is more volatile than the S&P 500® Index.

Sharpe Ratio — A risk-adjusted measure that measures reward per unit of risk. The higher the Sharpe ratio, the better a fund's historical risk-adjusted performance.

Information Ratio — Measures how much a fund outperformed the benchmark per unit of additional risk taken.

Net Asset Value — The Net Asset Value (NAV) is calculated by taking the closing market value of all the investments owned by a fund, plus all other assets such as cash, subtracting all liabilities, then dividing the result (total net assets) by the total number of shares outstanding.

Record Date — The distribution that an investor receives is calculated based on the number of shares that an investor owns on Record Date, typically using the share balance in an investor's account at the close of that day’s business.

Pay/Reinvest Date — The date on which distributions are posted to accounts for reinvestment or paid to shareholders who take distributions in cash.

Dividends — Dividends are income distributions to shareholders out of income from a fund’s investments.

Short-term Capital Gains — Distributions to shareholders derived from the profit of the sale of stocks or bonds held within a fund for a period of one year or less.

Long-term Capital Gains — Distributions to shareholders derived from the profit of the sale of stocks or bonds held within a fund for a period of more than one year.