Emerging Markets Equity(GEMZX)

Net Asset Value

$9.80

Inception Date

10/31/2013

Year to Date

10.36%

Fees & Expenses
  • 1.39%Gross
  • 1.32%Net
Overall Morningstar Rating

Diversified Emerging Mkts

Overall rating among 716 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. Any income received is incidental to this objective.

Investment Strategy

Investment Strategy
The Fund is actively managed and invests mainly in a diversified portfolio of equity securities that are economically tied to emerging markets.

Investment Suitability

Investment Suitability
This Fund may be suitable for investors who seek higher, long-term rates of return, can accept significant short-term fluctuations in account value and want to diversify their portfolio with emerging market stocks.

Foreign and emerging market securities may involve additional risks, including social and political instability, reduced market liquidity, currency volatility, less available public information about the issuers of securities, less stringent regulatory standards and a lack of uniform accounting, auditing and financial standards. This description of risk 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
$9.80
Inception Date
Inception Date
10/31/2013
FEES AND EXPENSES
(annualized)
Gross
1.39%
Net
1.32%
The Adviser has agreed to pay, waive or assume expenses to the extent needed to limit total annual operating expenses (without regard to any expense reductions realized through the use of directed brokerage) excluding interest, taxes, brokerage commissions, extraordinary expenses, acquired fund fees and expenses and expenses incurred in connection with the short sales of securities) to 1.31% for the Investor Class (the “Expense Limitation”). This Expense Limitation applies to Fund operating expenses only and will remain in place until April 30, 2025.
Daily Performance
(as of 05/22/2024)
One Month
8.29%
Three Month
7.69%
Year To Date
10.36%
One Year
16.71%
Three Year*
-3.73%
Five Year*
5.49%
Ten Year*
1.97%
Since Inception*
2.15%
*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
7.77%
7.86%
YTD
10.67%
9.83%
One Year
10.67%
9.83%
Three Year*
-5.30%
-5.08%
Five Year*
4.32%
3.69%
Ten Year*
1.53%
2.66%
Since Inception*
1.25%
2.32%
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 2013 annual performance began 11/01/2013. 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
35.37%
37.28%
2018
-20.49%
-14.57%
2019
19.64%
18.42%
2020
21.60%
18.31%
2021
-2.12%
-2.54%
2022
-21.61%
-20.09%
2023
10.67%
9.83%
Benchmark: MSCI® Emerging Markets Index
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
Diversified Emerging Mkts
Overall (716 funds rated)
Morningstar Overall Rating is 3 of 5 starsMorningstar Overall Rating is 3 of 5 starsMorningstar Overall Rating is 3 of 5 starsMorningstar Overall Rating is 3 of 5 starsMorningstar Overall Rating is 3 of 5 stars
Three-Year (716 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 (653 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 (426 funds rated)
Morningstar Ten-Year Rating is 2 of 5 starsMorningstar Ten-Year Rating is 2 of 5 starsMorningstar Ten-Year Rating is 2 of 5 starsMorningstar Ten-Year Rating is 2 of 5 starsMorningstar Ten-Year Rating is 2 of 5 stars

Characteristics

Asset Allocation

(as of 03/31/2024)

 
Cash*
2%
 
Non-U.S. Equities
98%
 
Total
100%
*Cash is maintained by the Fund for liquidity purposes and may be overlaid with equity and/or U.S. Treasury futures to provide capital market exposure.

 

Benchmark^
(as of 03/31/2024)
 
MSCI® Emerging Markets Index
100%
Sub-Adviser Composite
(as of 03/31/2024)
 
AQR Capital Management
34%
 
Wellington Management Company
27%
 
RBC Global Asset Management (UK)
29%
 
Goldman Sachs Asset Management
10%

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 Countries
(as of 03/31/2024)
 
China
20.59%
 
India
17.66%
 
Taiwan
16.33%
 
Korea
13.05%
 
Brazil
6.92%
 
United States
4.64%
 
Mexico
3.27%
 
Saudi Arabia
2.84%
 
Indonesia
2.71%
 
United Kingdom
2.48%
Top Ten Equity Holdings
(as of 03/31/2024)
 
Taiwan Semiconductor Manufacturing Co Ltd
4.43%
 
Tencent Holdings Ltd
4.30%
 
Samsung Electronics Co Ltd
2.49%
 
Taiwan Semiconductor Manufacturing Co Ltd ADR
2.37%
 
Housing Development Finance Corp Ltd
2.06%
 
SK Hynix Inc
1.75%
 
23/04/27 Hcj23_Sw
1.68%
 
AIA Group Ltd
1.29%
 
PT Bank Central Asia Tbk
1.29%
 
Fomento Economico Mexicano SAB de CV ADR
1.27%
Equity Sector Holdings
(as of 03/31/2024)
 
Communication Services
6.77%
 
Consumer Discretionary
13.81%
 
Consumer Staples
7.99%
 
Energy
5.50%
 
Financial Services
25.14%
 
Health Care
1.83%
 
Industrials
8.20%
 
Materials
7.45%
 
Real Estate
2.02%
 
Information Technology
19.62%
 
Utilities
1.66%

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

Portfolio Characteristics
(as of 03/31/2024)
Price to Earnings Ratio
13.40x
Price to Book Ratio
1.72x
Weighted Avg Market Cap
$40,703
*$ in millions

Risk/Return Characteristics

(as of 03/31/2024)

R-Squared
97.79%
R-Squared
97.79%
Beta vs. Benchmark
1.01
Beta vs. Benchmark
1.01
Beta vs. S&P 500 Index
0.69
Beta vs. S&P 500 Index
0.69
Calculated over previous 3 years
Fund Size ($ in millions)
(as of 03/31/2024)
Total fund net assets for all share classes
$826
Number of holdings
529

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.

^ The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets.  As of March 29, 2019, the index consists of the following 24 emerging market country indexes: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Pakistan, Peru, Philippines, Poland, Qatar, Russia, South Africa, Taiwan, Thailand, Turkey and United Arab Emirates.  The funds described herein are indexed to an MSCI index and are not sponsored, endorsed or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The Prospectus contains a more detailed description of the limited relationship MSCI has with GuideStone Funds and any related funds. Index used with permission. It is not possible to invest directly in an index.

Price-to-Earnings Ratio — A ratio used to compare the price of a fund’s stocks with their per-share earnings.

Price-to-Book Ratio — A ratio used to compare the book value of a fund’s stocks with their market value.

Weighted Average Market Cap — An index of stocks in which companies that have a greater overall market capitalization are more strongly represented than companies with smaller market capitalizations.

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.