Strategic Alternatives Fund(GFSZX)

Net Asset Value

$9.37

Inception Date

6/30/2017

Year to Date

2.40%

Fees & Expenses
  • 1.82%Gross
  • 1.65%Net
Overall Morningstar Rating

Multistrategy

Overall rating among 112 funds in this category based upon risk-adjusted returns.

As of 4/30/2024

Investment Objective

Investment Objective
The Strategic Alternatives Fund seeks absolute returns with both lower volatility than and low correlation with traditional equity and fixed-income markets.

Investment Strategy

Investment Strategy
The Fund is actively managed and pursues a multi-strategy approach that incorporates various non-traditional investment approaches. It invests in relative value, long/short equity, options, currency trading and global macro strategies.

Investment Suitability

Investment Suitability

This Fund may be suitable for investors who have a short- to medium-term investment horizon, can accept short-term fluctuations in account value and would like to diversify their portfolio with an alternatives investment option.

The alternative investment strategies that the Fund pursues are complex and may involve greater risk than traditional investments (stocks, bonds and cash). The performance of alternative investments is not expected to correlate closely with more traditional investments; however, it is possible that alternative investments will decline in value along with equity or fixed-income markets, or both, or that they may not otherwise perform in accordance with expectations. Alternative investments can be highly volatile, are often less liquid, particularly in periods of stress, are generally more complex and less transparent, and may have more complicated tax profiles than traditional investments. In addition, the performance of alternative investments may be more dependent on a sub-adviser’s experience and skill than traditional investments. The use of alternative investments may not achieve the desired effect.

Foreign currencies and emerging markets involve certain risks such as currency volatility, political and social instability and reduced market liquidity. Short sales by a Fund theoretically involve unlimited loss potential since the market price of securities sold short may continuously increase. Leverage may increase the risk of loss and cause fluctuations in the market value of the Fund’s portfolio to have disproportionately large effects or cause the NAV of the Fund generally to decline faster than it would otherwise. To the extent that the investment advisor misjudges current market conditions, the Fund's volatility may be amplified by its use of derivatives and its ability to anticipate price movements in relevant markets, underlying derivative instruments and futures contracts. The Fund's currency investment strategy may be impacted by currency exchange rates, which can fluctuate significantly over short or extended periods of time. These changes may be caused by governmental or political factors that affect the value of what the Fund owns and its share price. The Fund may experience high portfolio turnover, which may result in higher costs and capital gains. The Fund is a recently formed mutual fund and has a limited history of operations. There can be no assurances that its objective will be met.

Performance

Net Asset Value
(as of 05/22/2024)
Net Asset Value
$9.37
Inception Date
Inception Date
06/30/2017
FEES AND EXPENSES
(annualized)
Gross
1.82%
Net
1.65%

The Adviser has agreed to waive fees and/or reimburse 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 1.52% 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
0.11%
Three Month
0.97%
Year To Date
2.40%
One Year
6.71%
Three Year*
3.79%
Five Year*
2.65%
Since Inception*
2.44%
*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
1.04%
1.38%
YTD
5.59%
5.14%
One Year
5.59%
5.14%
Three Year*
3.08%
2.21%
Five Year*
2.66%
1.87%
Since Inception*
2.21%
1.82%
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 2017 annual performance began 06/30/2017. 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
1.31%
0.55%
2018
-0.17%
1.87%
2019
4.62%
2.28%
2020
-0.51%
0.54%
2021
4.57%
0.04%
2022
-0.81%
1.52%
2023
5.59%
5.14%
Benchmark: Bloomberg 1-3 Month U.S. Treasury Bill
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
Multistrategy
Overall (112 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 (112 funds rated)
Morningstar Three-Year Rating is 4 of 5 starsMorningstar Three-Year Rating is 4 of 5 starsMorningstar Three-Year Rating is 4 of 5 starsMorningstar Three-Year Rating is 4 of 5 starsMorningstar Three-Year Rating is 4 of 5 stars
Five-Year (98 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

Characteristics

Benchmark^
(as of 03/31/2024)
 
Bloomberg 1-3 Month U.S. Treasury Bill
100%
Sub-adviser Composite
(as of 03/31/2024)
 
Goldman Sachs Asset Management
39%
 
AQR Capital Management
20%
 
Parametric Portfolio Associates
7%
 
SSI Investment Management
21%
 
P/E Global LLC
13%

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.

Fund Size ($ in millions)
(as of 03/31/2024)
Total fund net assets for all share classes
$253
Number of holdings
1,331

*Does not include currencies or forward currency contracts.

Risk/Return Characteristics

(as of 03/31/2024)

Beta vs. S&P 500 Index
0.01
Beta vs. S&P 500 Index
0.01
Beta vs. Bloomberg US Agg
-0.01
Beta vs. Bloomberg US Agg
-0.01
R-Squared vs. S&P 500 Index
1.28%
R-Squared vs. S&P 500 Index
1.28%
R-Squared vs. Bloomberg US Agg
0.10%
R-Squared vs. Bloomberg US Agg
0.10%
Number of Flat/Up Months
58
Number of Flat/Up Months
58

Prices and Distributions

Historical Prices & Distributions

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Capital Gains and Dividend distributions are represented by a blue circle

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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 Bloomberg 1-3 Month US 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. “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 Strategic Alternatives Fund. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the Strategic Alternatives Fund. Index used with permission. It is not possible to invest directly in an index. 

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.

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

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.

Beta vs. Bloomberg US Aggregate Bond Index — Beta is a measure of a fund's sensitivity to market movements as defined by the Bloomberg Barclays US Aggregate Bond 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.

R-Squared vs. S&P 500® Index — Shows the percentage of a fund's performance that is explained by movements in the S&P 500 Index. An R-squared of 100% indicates that all movements of a fund can be explained by movements in the S&P 500 Index. 

R-Squared vs. Bloomberg Barclays US Agg — Shows the percentage of a fund's performance that is explained by movements in the Bloomberg Barclays US Aggregate Bond Index. An R-squared of 100% indicates that all movements of a fund can be explained by movements in the Bloomberg Barclays US Aggregate Bond Index. 

Number of Flat/Up Months — The number of months, since the inception of the fund, where the fund had a return greater than or equal to 0.00% 

Number of Down Months — The number of months, since the inception of the fund, where the fund had a return less than 0.00%