Fund Evaluator:
GuideStone Funds Strategic Alts Investor (GFSZX)
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Best Performing in Multistrategy Over the Last Year
| 35.9% | AQR Alternative Risk Premia N (QRPNX) |
| 21.4% | AQR Style Premia Alternative N (QSPNX) |
| 14.2% | Goldman Sachs Multi-Strategy Alts Inv (GIMMX) |
| 13.0% | AQR Diversifying Strategies N (QDSNX) |
| 12.7% | Blackstone Alternative Multi-Strategy Y (BXMYX) |
Fund Details
GuideStone Funds Strategic Alts Investor Overview
GuideStone Funds Strategic Alts Investor (GFSZX) is an actively managed Alternative Multistrategy fund. GuideStone Funds launched the fund in 2017.
The investment seeks absolute returns with both lower volatility than and low correlation with traditional equity and fixed income markets. The fund pursues its investment objective by utilizing "alternative" or non-traditional principal investment strategies, managed by the fund's investment sub-advisers ("Sub-Advisers") under the ultimate supervision of GuideStone Capital Management, LLC (the "Adviser"). The principal strategies, when combined, are intended to result in obtaining absolute (i.e., positive) returns with both lower volatility than and low correlation with traditional equity and fixed income markets.
About GuideStone Funds Strategic Alts Investor (GFSZX)
There are 18 members of the management team with an average tenure of 4.09 years: Warren Naphtal (2020), Alexander Volz (2021), Gordon Wotherspoon (2025), Dagney Maseda (2021), John Huss (2021), Michele Aghassi (2021), Paul Seary (2021), Richard Fong (2020), Brandon Pizzurro (2021), Jennifer Mihara (2024), Simon Dangoor (2024), David Souza (2020), Lindsay Rosner (2024), Laura Serban (2026), Zach Olsen (2022), Joshua Chastant (2024), Clifford Asness (2022), George Douglas (2021). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Treasury Bill 1-3 M TR USD index with a weighting of 100%. GuideStone Funds Strategic Alts Investor has 2035 securities in its portfolio. The top 10 holdings constitute 79.4% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
GuideStone Funds Strategic Alts Investor is part of the Alternative Strategies global asset class and is within the Alternative fund group. GuideStone Funds Strategic Alts Investor has 55.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -4.3%. There is -0.5% allocated to foreign stock, and 2.4% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 56.4% (0.7% domestic bond, 55.7% foreign bond and 23.4% convertible bond). GuideStone Funds Strategic Alts Investor has 22.6% of the portfolio in cash.
Assets Under Management
The fund has $53 million in total assets, which is below the $511 million average for the Multistrategy category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
GFSZX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The GuideStone Funds Strategic Alts Investor expense ratio is high compared to funds in the Multistrategy category. GuideStone Funds Strategic Alts Investor has an expense ratio of 1.69%, which is 18% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. GuideStone Funds Strategic Alts Investor has a portfolio turnover rate of 432%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 289% for the Multistrategy category.
Recently, in the month of July 2026, GuideStone Funds Strategic Alts Investor returned 1.2%, which earned it a grade of B, as the Multistrategy category had an average return of 0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
GuideStone Funds Strategic Alts Investor has a trailing yield of 3.81%, which is above the 2.97% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
GuideStone Funds Strategic Alts Investor Grades
Year to date, the fund has returned 2.5%, 2.8 percentage points worse than the category, which translates into a grade of D. The fund has returned 5.8% over the past year (grade of D), 6.1% over the past three years (grade of D) and 4.4% per year over the past five years (grade of C).
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GFSZX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GFSZX Return (NAV) | 1.2% | 3.6% | 5.8% | 6.1% | 4.4% | na |
| GFSZX Grade | B | A | D | D | C | na |
| +/- Category | 0.4% | 1.8% | -5.0% | -1.6% | -0.9% | na |
| Multistrategy Avg | 0.8% | 1.8% | 10.8% | 7.7% | 5.3% | 3.7% |
| GFSZX Tax Cost Ratio | na | na | 2.7% | 3.5% | 2.5% | na |
GFSZX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GFSZX Return (NAV) | 2.5% | 5.1% | 7.4% | 5.6% | -0.8% | 4.6% | -0.5% | 4.6% | -0.2% | na | na |
| GFSZX Grade | D | D | B | C | B | D | D | F | A | na | na |
| +/- Category | -2.8% | -2.7% | 1.3% | -0.8% | -0.4% | -1.7% | -2.5% | -2.4% | 4.7% | na | na |
| Multistrategy Avg | 5.3% | 7.8% | 6.1% | 6.4% | -0.4% | 6.2% | 2.0% | 7.0% | -4.9% | 5.0% | 2.0% |
| Risk Measures | |
| Standard Deviation: | 2.0% |
| Total Risk Index: | 0.16 - Low |
| Category Risk Index: | 0.36 - Low |
| Category Risk Grade: | A (2% Rank) |
| Beta: | -0.02 |
| R-Squared: | 2% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 3.8% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $292 Mil |
| Fund Total Assets: | $ 53 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 432% |
Management Team
| Number of Managers: 18 | |||
| Longest Tenure: 5.7 years | |||
| Average Tenure: 4.1 years | |||
| Managers (Year): Naphtal Warren (2020), Fong Richard (2020), Souza David (2020), Douglas George (2021), Pizzurro Brandon (2021), Volz Alexander (2021), Maseda Dagney (2021), Huss John (2021), Aghassi Michele (2021), Seary Paul (2021), Asness Clifford (2022), Olsen Zach (2022), Chastant Joshua (2024), Rosner Lindsay (2024), Dangoor Simon (2024), Mihara Jennifer (2024), Wotherspoon Gordon (2025), Serban Laura (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 2035 |
| % in Top 10 Holdings: | 79.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 55.1% |
Portfolio Allocation |
|
| Domestic Stock: | -4.3% |
| Foreign Stock: | -0.5% |
| Preferred Stock: | 2.4% |
| Domestic Bond: | 0.7% |
| Foreign Bond: | 55.7% |
| Convertible Bond: | 23.4% |
| Other: | 0.0% |
| Cash: | 22.6% |
Purchase Information
| Fund Family: | GuideStone Funds |
| Phone Number: | 888-473-8637 |
| Website: | www.guidestonefunds.org |
| Status: | Open |
| Inception Date: | June 30, 2017 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.69% ( Rating : High ) |
| Category Average Expense Ratio (%): | 2.05% |
| Share Class: | GuideStone Funds Strategic Alts Instl |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
