GDMZX Fees and Costs — Defensive Market Strategies Fund, Investor Class
Data updated: 2026-08-27
The net expense ratio is 0.92%: a 0.58% management fee plus 0.33% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $65K in broker commissions, 0.0050% of average net assets, and portfolio turnover was 68%.
GDMZX Fees and Expenses
Annual operating expenses and sales charges of GDMZX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.58% |
| 12b-1 fee | — |
| Other expenses | 0.33% |
| Gross expense ratio | 0.92% |
| Fee waiver | — |
| Net expense ratio | 0.92% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
GDMZX Costs Over Time
On $10,000 invested in GDMZX, assuming 5% a year before costs, total costs come to $579 over 5 years, cutting the return by 0.97% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.92%) | $97 | $302 | $524 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $15 | $53 |
| Total costs | $97 | $318 | $579 |
| Value after costs | $10,403 | $11,258 | $12,183 |
| Impact on return, per year | 0.97% | 0.97% | 0.97% |
GDMZX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0050%
- Total broker commissions: $65K
- Bought from dealers (principal trades, not a cost): $5.3B
- Portfolio turnover (prospectus): 68%
- Securities on loan, average value: $224.9M
- Net income from securities lending: $328K (0.025% of average net assets)
GDMZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| MORGAN STANLEY & CO. LLC | $35K | 59.81% |
| GOLDMAN SACHS & CO. LLC | $9K | 15.39% |
| UBS AG | $3K | 5.91% |
| Merrill Lynch International | $3K | 5.67% |
| J.P. MORGAN SECURITIES PLC | $3K | 4.34% |
| PIPER SANDLER & CO. | $2K | 2.84% |
| RBC CAPITAL MARKETS, LLC | $1K | 1.93% |
| CITIGROUP GLOBAL MARKETS INC. | $1K | 1.80% |
| EVERCORE GROUP LLC | $682 | 1.16% |
| WELLS FARGO SECURITIES, LLC | $679 | 1.16% |
GDMZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GUIDESTONE MONEY MARKET FUND | $2.9B | 60.86% |
| MORGAN STANLEY & CO. LLC | $447.6M | 9.44% |
| CITADEL SECURITIES INSTITUTIONAL LLC | $327.4M | 6.90% |
| GOLDMAN SACHS & CO. LLC | $296.1M | 6.25% |
| Nomura Securities International, Inc. | $189.8M | 4.00% |
| WELLS FARGO SECURITIES, LLC | $147.8M | 3.12% |
| NATWEST MARKETS SECURITIES INC. | $130.2M | 2.75% |
| J.P. MORGAN SECURITIES LLC | $117.4M | 2.48% |
| CITIGROUP GLOBAL MARKETS INC. | $107.0M | 2.26% |
| JEFFERIES LLC | $92.6M | 1.95% |
Defensive Market Strategies Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GDMYX | Institutional Class | 0.64% | — |
| GDMZX | Investor Class | 0.92% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.