GFSZX Fees and Costs — Strategic Alternatives Fund, Investor Class
Data updated: 2026-08-27
The net expense ratio is 1.69% (1.75% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $95K in broker commissions, 0.0338% of average net assets, and portfolio turnover was 432%.
GFSZX Fees and Expenses
Annual operating expenses and sales charges of GFSZX. Prospectus, as of December 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.93% |
| 12b-1 fee | — |
| Other expenses | 0.70% |
| Gross expense ratio | 1.75% |
| Fee waiver | −0.06% |
| Net expense ratio | 1.69% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
GFSZX Costs Over Time
On $10,000 invested in GFSZX, assuming 5% a year before costs, total costs come to $1,063 over 5 years, cutting the return by 1.81% 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 1.69%) | $177 | $550 | $946 |
| Trading costs (broker commissions) | $4 | $11 | $19 |
| Lost growth on money paid in costs | $0 | $28 | $98 |
| Total costs | $181 | $588 | $1,063 |
| Value after costs | $10,319 | $10,988 | $11,700 |
| Impact on return, per year | 1.81% | 1.81% | 1.81% |
GFSZX 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): 0.0338%
- Total broker commissions: $95K
- Bought from dealers (principal trades, not a cost): $3.3B
- Portfolio turnover (prospectus): 432%
- Securities lending: none during the year
GFSZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| CITIGROUP GLOBAL MARKETS INC. | $33K | 35.13% |
| INSTINET, LLC | $26K | 27.62% |
| J.P. MORGAN SECURITIES PLC | $11K | 11.67% |
| MORGAN STANLEY & CO. LLC | $9K | 9.45% |
| GOLDMAN SACHS & CO. LLC | $6K | 5.86% |
| BARCLAYS BANK PLC | $4K | 3.98% |
| SG AMERICAS SECURITIES, LLC | $3K | 2.78% |
| BOFA SECURITIES INC. | $2K | 2.24% |
| Deutsche Securities Inc. | $711 | 0.75% |
| Merrill Lynch International | $486 | 0.51% |
GFSZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GUIDESTONE MONEY MARKET FUND | $1.5B | 49.91% |
| BARCLAYS BANK PLC | $383.9M | 12.47% |
| The Bank of New York Mellon | $332.8M | 10.81% |
| J.P. MORGAN SECURITIES LLC | $206.1M | 6.69% |
| MORGAN STANLEY & CO. LLC | $187.0M | 6.07% |
| CITIGROUP GLOBAL MARKETS INC. | $131.7M | 4.28% |
| The Northern Trust Company | $125.8M | 4.09% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $82.5M | 2.68% |
| BNP PARIBAS SECURITIES CORP. | $61.5M | 2.00% |
| BMO CAPITAL MARKETS CORP. | $30.9M | 1.00% |
Strategic Alternatives Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| GFSYX | Institutional Class | 1.44% | — |
| GFSZX | Investor Class | 1.69% | — |
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.