GuidePath® Income Fund
Fund
GPINX
Price as of:
$8.39
- $0.02
- 0.23%
Primary Theme
fund company
Name
As of 05/10/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
0.1%
1 yr return
3.3%
3 Yr Avg Return
-3.1%
5 Yr Avg Return
-0.8%
Net Assets
$79.7 M
Holdings in Top 10
134.1%
52 WEEK LOW AND HIGH
$8.4
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.93%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 222.96%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/10/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
GPINX - Profile
Distributions
- YTD Total Return 0.1%
- 3 Yr Annualized Total Return -3.1%
- 5 Yr Annualized Total Return -0.8%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 2.11%
- Dividend Yield 4.1%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameGuidePath® Income Fund
-
Fund Family NameGuideMark and GuidePath Funds
-
Inception DateApr 30, 2018
-
Shares Outstanding6180989
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerDavin Gibbins
Fund Description
The Fund invests primarily in a portfolio of actively and passively managed registered mutual funds, exchange-traded funds (“ETFs”) and closed-end funds, in addition to direct investments in securities and certain derivatives. The funds in which the Fund may invest are referred to herein as the “Underlying Funds.” AssetMark, Inc. (“AssetMark” or the “Advisor”) believes that investing in Underlying Funds provides the Fund with an efficient means of creating a portfolio that provides investors with indirect exposure to a broad range of investments. By investing in the Fund, you will indirectly bear fees and expenses of the Underlying Funds in addition to the Fund’s direct fees and expenses. In order to obtain exposure to certain markets, asset classes or active management styles, the Fund may buy Underlying Funds managed by
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the Advisor or its affiliates, which, in turn, invest in various securities, including ETFs. The Fund may also invest directly in securities and other exchange-traded products, such as exchange-traded notes (“ETNs”).
The Advisor’s asset allocation decisions will be based on different factors and analytical approaches, derived from volatility-managed and income-focused asset allocation approaches. These approaches typically utilize fundamental and quantitative analyses of global market and economic conditions and assumptions regarding risks and returns. The Advisor seeks to create a portfolio that is optimized to seek high total return and income, managed to contain the potential magnitude of drawdowns in high volatility markets. The Fund may invest up to 20% of its total assets in securities denominated in foreign currencies and may invest without limit in U.S. dollar-denominated securities of foreign issuers.
In pursuing the Fund’s objective, the Fund invests, either directly or indirectly via the Underlying Funds, in various types of domestic and international fixed income securities, domestic and international equity securities (including American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)) and cash equivalent money market securities. The Fund invests in fixed income securities that primarily have a maturity that is between 1 and 10 years and are rated BBB- or higher, or are unrated and deemed to be of comparable quality by the Advisor; provided, however, that the Fund may invest up to 50% of its total assets in bonds rated below investment grade. Under normal circumstances, the Fund’s portfolio will have an average duration of 2 to 5 years. In some instances, the Fund’s average duration may exceed this range but is not expected to exceed that of the Bloomberg US Aggregate Bond Index. Duration is a measurement of price sensitivity to interest rate changes.
The asset classes in which the Fund may invest, either directly or indirectly via the Underlying Funds, include, but are not limited to, debt securities of governments, government agencies and supranational entities, debt securities of corporations, bank loans, convertible securities, mortgage- or asset-backed securities, inflation-linked securities and other securitized or collateralized debt obligations, higher-yielding bonds (sometimes referred to as “junk bonds”), including emerging market debt, preferred stock, dividend-paying securities of small- and large-capitalization companies, business development companies (“BDCs”), publicly traded real estate investment trusts (“REITs”), non-traded unregistered REITs, ETFs, and pooled investment funds including private investment funds that are not registered under the 1940 Act (“private funds”) that provide exposure to pools of whole loans, including those sourced through peer-to-peer or marketplace lending platforms. The Fund may also take positions in various global currencies and may hold positions in instruments that are denominated in currencies other than the U.S. dollar. Under normal circumstances, the Fund will make investments in fixed income securities that primarily have a maturity that is between 1 and 10 years.
In selecting debt securities for the Fund, the Advisor develops an outlook for credit markets, interest rates, currency exchange rates and the economy, analyzes individual credit and prepayment risks, and uses other security selection techniques. The proportion of the Fund’s assets committed to investment in securities with particular characteristics (such as quality, sector, interest rate or maturity) varies based on the Advisor’s outlook for the U.S. economy and the economies of other countries in the world, the financial markets and other factors.
The Fund may allocate assets to ETFs that provide exposure to various fixed income and equity securities and sectors. Using this type of strategy, the Fund seeks to tactically avoid risk by reducing exposure to unattractive sectors at the appropriate times, while also increasing exposure to attractive sectors on a timely basis. The ETFs in which the Fund may invest include those that invest primarily in senior bank loans (also referred to as leveraged loans). The Fund may also invest in inverse, leveraged, and inverse-leveraged ETFs and ETNs. Inverse ETFs and ETNs are designed to correlate inversely with the performance of an index. Leveraged and inverse-leveraged ETFs and ETNs seek investment results that correspond to two or more times the performance of an index or inverse of the performance of an index, respectively.
The Fund may engage in a strategy of purchasing and selling (writing) call and put options on indexes or ETFs (hereafter referred to as "call options" and "put options"). The writer of a call option receives cash (the “premium”) from the purchaser. In return, the purchaser of a call option has the right to any appreciation in the value of the underlying index or ETF over a fixed price (the “exercise price”) on a certain date in the future (the “expiration date”). If the purchaser does not exercise the option, the writer of the option retains the premium. If the purchaser exercises the option, the writer of the option pays the purchaser the difference between the value of the underlying index or ETF and the exercise price of the option.
The value of a call option generally increases as the prices of the stocks constituting the underlying index or ETF increase, and decreases as those stocks decrease in price. Conversely, the value of a put option generally increases as the prices of the stocks constituting the underlying index or ETF decrease, and decreases as those stocks increase in price. The premium, the exercise price and the value of the underlying index or ETF will determine the gain or loss realized by the Fund on a written or purchased option. When the Fund has written an option, it generally can repurchase the option prior to the expiration date, ending its obligation. In such case, the difference between the cost of repurchasing the option and the premium received will determine the gain or loss realized by the Fund. While writing call options may reduce the Fund’s volatility and provide a source of steady cash flow, it may also reduce the Fund’s ability to profit from increases in the value of the underlying index or ETF.
Using the proceeds from its written call options, the Fund may buy put options in an attempt to hedge against a significant market decline in the underlying index or ETF that may occur over a short period of time. In addition, the Fund may write call options or put options on the underlying indexes of the ETFs in which the Fund is invested.
The Fund may invest in Underlying Funds that use derivatives for risk management purposes or as part of their investment strategies. An Underlying Fund may use derivatives to earn income and enhance returns, to manage or adjust the risk and duration exposure profile of the Underlying Fund, to replace more traditional direct investments or to obtain exposure to certain markets, interest rates, sectors or individual issuers. The derivatives used by an Underlying Fund may allow the Underlying Fund to obtain net long or net negative (short) exposures to
selected interest rates, countries, duration or credit risks. An Underlying Fund may also use derivatives to hedge or gain exposure to currencies. The Fund may also invest directly in futures contracts. It is anticipated that the Fund may have net economic leverage of up to 30% of the Fund’s total assets through its investments in closed-end funds, leveraged ETFs and ETNs, and certain derivatives, such as options and futures contracts.
The Fund’s asset allocation mix among equity, fixed income and cash equivalent money market securities is intended to change frequently over time. The Fund does not have a set target asset allocation mix among equities, fixed income securities and cash equivalent investments. If the Advisor believes that the stock market conditions are unfavorable or overvalued, it may significantly increase the allocation to more defensive asset classes such as fixed income or cash equivalent securities. The Advisor also has broad latitude to allocate assets to equity securities in pursuit of perceived opportunities for additional return. Based on these judgments, the Fund’s asset allocation mix may significantly change over time in response to opportunities as they are identified. In certain circumstances the Fund may be fully invested in cash equivalent securities for an extended period of time.
The Fund lends its portfolio securities to seek to generate additional income.
GPINX - Performance
Return Ranking - Trailing
| Period | GPINX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.1% | -8.4% | 3.8% | 3.41% |
| 1 Yr | 3.3% | -10.9% | 15.2% | 4.92% |
| 3 Yr | -3.1%* | -10.8% | 25.5% | 47.41% |
| 5 Yr | -0.8%* | -6.9% | 191.0% | 91.76% |
| 10 Yr | N/A* | -2.6% | 73.5% | N/A |
* Annualized
Return Ranking - Calendar
| Period | GPINX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 1.5% | -16.2% | 8.1% | 74.04% |
| 2022 | -15.7% | -34.7% | 131.9% | 42.65% |
| 2021 | -2.9% | -11.6% | 4.4% | 30.26% |
| 2020 | -0.6% | -10.1% | 946.1% | 96.89% |
| 2019 | 5.9% | -1.7% | 16.9% | 39.00% |
Total Return Ranking - Trailing
| Period | GPINX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.1% | -8.4% | 3.8% | 3.41% |
| 1 Yr | 3.3% | -10.9% | 15.2% | 4.92% |
| 3 Yr | -3.1%* | -10.8% | 25.5% | 47.41% |
| 5 Yr | -0.8%* | -6.9% | 191.0% | 91.76% |
| 10 Yr | N/A* | -2.6% | 73.5% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | GPINX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 5.3% | -11.3% | 11.0% | 76.86% |
| 2022 | -14.4% | -32.2% | 131.9% | 76.16% |
| 2021 | -0.7% | -9.4% | 9.2% | 38.20% |
| 2020 | 1.5% | -1.9% | 1009.0% | 98.78% |
| 2019 | 8.3% | 1.1% | 21668.0% | 65.39% |
NAV & Total Return History
GPINX - Holdings
Concentration Analysis
| GPINX | Category Low | Category High | GPINX % Rank | |
|---|---|---|---|---|
| Net Assets | 79.7 M | 2.9 M | 314 B | 90.76% |
| Number of Holdings | 7 | 1 | 17889 | 99.20% |
| Net Assets in Top 10 | 104 M | -106 M | 34.8 B | 69.62% |
| Weighting of Top 10 | 134.06% | 4.4% | 134.1% | 0.10% |
Top 10 Holdings
- Mount Vernon Liquid Assets Portfolio, LLC 33.40%
- iShares 5-10 Year Investment Grade Corporate Bond ETF 29.47%
- iShares Core U.S. Aggregate Bond ETF 25.42%
- SPDR Bloomberg High Yield Bond ETF 19.53%
- VanEck Emerging Markets High Yield Bond ETF 14.65%
- iShares J.P. Morgan USD Emerging Markets Bond ETF 8.81%
- JPMorgan US Government Money Market Fund 2.79%
Asset Allocation
| Weighting | Return Low | Return High | GPINX % Rank | |
|---|---|---|---|---|
| Stocks | 97.87% | 0.00% | 99.83% | 1.10% |
| Cash | 36.19% | -54.51% | 87.74% | 0.30% |
| Convertible Bonds | 0.97% | 0.00% | 7.93% | 68.32% |
| Preferred Stocks | 0.00% | 0.00% | 74.68% | 71.63% |
| Other | 0.00% | -13.23% | 50.66% | 91.05% |
| Bonds | 0.00% | 0.00% | 215.98% | 99.30% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | GPINX % Rank | |
|---|---|---|---|---|
| Utilities | 0.00% | 0.00% | 100.00% | 81.09% |
| Technology | 0.00% | 0.00% | 43.45% | 77.61% |
| Real Estate | 0.00% | 0.00% | 99.26% | 77.11% |
| Industrials | 0.00% | 0.00% | 48.31% | 86.07% |
| Healthcare | 0.00% | 0.00% | 17.70% | 78.61% |
| Financial Services | 0.00% | 0.00% | 100.00% | 79.60% |
| Energy | 0.00% | 0.00% | 100.00% | 16.92% |
| Communication Services | 0.00% | 0.00% | 100.00% | 80.10% |
| Consumer Defense | 0.00% | 0.00% | 99.67% | 77.61% |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | 80.60% |
| Basic Materials | 0.00% | 0.00% | 100.00% | 76.62% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | GPINX % Rank | |
|---|---|---|---|---|
| US | 97.87% | 0.00% | 99.83% | 1.11% |
| Non US | 0.00% | 0.00% | 86.52% | 62.37% |
GPINX - Expenses
Operational Fees
| GPINX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.93% | 0.01% | 39.10% | 30.43% |
| Management Fee | 0.45% | 0.00% | 1.00% | 80.49% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.25% | 0.01% | 0.50% | 91.44% |
Sales Fees
| GPINX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| GPINX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| GPINX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 222.96% | 2.00% | 493.39% | 72.75% |
GPINX - Distributions
Dividend Yield Analysis
| GPINX | Category Low | Category High | GPINX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 4.12% | 0.00% | 10.11% | 55.52% |
Dividend Distribution Analysis
| GPINX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| GPINX | Category Low | Category High | GPINX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 2.11% | -1.28% | 4.79% | 25.32% |
Capital Gain Distribution Analysis
| GPINX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Apr 25, 2024 | $0.029 | OrdinaryDividend |
| Mar 21, 2024 | $0.023 | OrdinaryDividend |
| Feb 22, 2024 | $0.029 | OrdinaryDividend |
| Dec 28, 2023 | $0.055 | OrdinaryDividend |
| Nov 16, 2023 | $0.024 | OrdinaryDividend |
| Oct 26, 2023 | $0.026 | OrdinaryDividend |
| Sep 21, 2023 | $0.027 | OrdinaryDividend |
| Aug 24, 2023 | $0.027 | OrdinaryDividend |
| Jul 27, 2023 | $0.025 | OrdinaryDividend |
| Jun 22, 2023 | $0.026 | OrdinaryDividend |
| May 25, 2023 | $0.025 | OrdinaryDividend |
| Apr 20, 2023 | $0.019 | OrdinaryDividend |
| Mar 23, 2023 | $0.024 | OrdinaryDividend |
| Feb 23, 2023 | $0.024 | OrdinaryDividend |
| Dec 29, 2022 | $0.026 | OrdinaryDividend |
| Nov 16, 2022 | $0.014 | OrdinaryDividend |
| Oct 20, 2022 | $0.013 | OrdinaryDividend |
| Sep 22, 2022 | $0.016 | OrdinaryDividend |
| Aug 25, 2022 | $0.012 | OrdinaryDividend |
| Jul 21, 2022 | $0.010 | OrdinaryDividend |
| Jun 23, 2022 | $0.011 | OrdinaryDividend |
| May 19, 2022 | $0.011 | OrdinaryDividend |
| Apr 21, 2022 | $0.007 | OrdinaryDividend |
| Mar 24, 2022 | $0.004 | OrdinaryDividend |
| Feb 24, 2022 | $0.010 | OrdinaryDividend |
| Dec 30, 2021 | $0.031 | OrdinaryDividend |
| Nov 17, 2021 | $0.019 | OrdinaryDividend |
| Oct 22, 2021 | $0.022 | OrdinaryDividend |
| Sep 23, 2021 | $0.023 | OrdinaryDividend |
| Aug 19, 2021 | $0.022 | OrdinaryDividend |
| Jul 22, 2021 | $0.019 | OrdinaryDividend |
| Jun 24, 2021 | $0.021 | OrdinaryDividend |
| May 20, 2021 | $0.019 | OrdinaryDividend |
| Apr 22, 2021 | $0.020 | OrdinaryDividend |
| Mar 25, 2021 | $0.013 | OrdinaryDividend |
| Feb 18, 2021 | $0.015 | OrdinaryDividend |
| Dec 30, 2020 | $0.037 | OrdinaryDividend |
| Nov 18, 2020 | $0.018 | OrdinaryDividend |
| Oct 22, 2020 | $0.019 | OrdinaryDividend |
| Sep 24, 2020 | $0.014 | OrdinaryDividend |
| Aug 20, 2020 | $0.015 | OrdinaryDividend |
| Jul 23, 2020 | $0.013 | OrdinaryDividend |
| Jun 18, 2020 | $0.011 | OrdinaryDividend |
| May 21, 2020 | $0.010 | OrdinaryDividend |
| Apr 23, 2020 | $0.018 | OrdinaryDividend |
| Mar 19, 2020 | $0.022 | OrdinaryDividend |
| Feb 20, 2020 | $0.025 | OrdinaryDividend |
| Dec 27, 2019 | $0.046 | OrdinaryDividend |
| Dec 27, 2019 | $0.005 | CapitalGainShortTerm |
| Nov 21, 2019 | $0.025 | OrdinaryDividend |
| Oct 24, 2019 | $0.021 | OrdinaryDividend |
| Sep 26, 2019 | $0.023 | OrdinaryDividend |
| Aug 22, 2019 | $0.023 | OrdinaryDividend |
| Jul 18, 2019 | $0.024 | OrdinaryDividend |
| Jun 20, 2019 | $0.024 | OrdinaryDividend |
| May 23, 2019 | $0.017 | OrdinaryDividend |
| Apr 25, 2019 | $0.015 | OrdinaryDividend |
| Mar 28, 2019 | $0.003 | OrdinaryDividend |
| Feb 21, 2019 | $0.003 | OrdinaryDividend |
| Dec 21, 2018 | $0.075 | OrdinaryDividend |
| Nov 15, 2018 | $0.025 | OrdinaryDividend |
| Oct 18, 2018 | $0.024 | OrdinaryDividend |
| Sep 20, 2018 | $0.022 | OrdinaryDividend |
| Aug 23, 2018 | $0.022 | OrdinaryDividend |
| Jul 19, 2018 | $0.021 | OrdinaryDividend |
| Jun 21, 2018 | $0.009 | OrdinaryDividend |
GPINX - Fund Manager Analysis
Managers
Davin Gibbins
Start Date
Tenure
Tenure Rank
Apr 30, 2018
4.09
4.1%
Mr. Gibbins is a Senior Vice President and serves as Chief Investment Officer of Aris, a division of AssetMark, Inc., and Portfolio Manager. Mr. Gibbins joined the firm in 2014. Previously, Mr. Gibbins was the Chief Investment Officer for Aris Corporation. Mr. Gibbins chairs the Aris Investment Committee. He specializes in quantitative portfolio management and strategic/tactical asset allocation analysis within the Investment Services Group (ISG) of Aris Wealth Services. He has more than 20 years of experience within the financial services industry, and has worked extensively in both fixed income and equity markets. Mr. Gibbins has earned the designation of Chartered Financial Analyst from the Board of Governors of the Association of Investment Management and Research, and Chartered Alternative Investment AnalystSM from the Chartered Alternative Investment Analyst Association. He is a member of the Toronto Society of Financial Analysts, the CAIA Association and an affiliate of the Market Technicians Association. Mr. Gibbins holds a bachelor’s and a master’s degree in statistics from the University of Toronto."
David McNatt
Start Date
Tenure
Tenure Rank
Jun 01, 2021
1.0
1.0%
Mr. McNatt is an Executive Vice President and Head of Investment Solutions for AssetMark, and serves as Portfolio Manager for the GuidePath® Growth Allocation Fund, GuidePath® Conservative Allocation Fund, GuidePath® Tactical Allocation Fund, GuidePath® Absolute Return Allocation Fund, GuidePath® Multi-Asset Income Allocation Fund, GuidePath® Flexible Income Allocation Fund, GuidePath® Conservative Income Fund, GuidePath® Income Fund, and GuidePath® Growth and Income Fund since June of 2021. He leads the firm’s Investment Solutions Group which focuses on providing asset management excellence and ensuring the AssetMark platform provides financial advisors and their clients investment products and services that meet their evolving needs. In his capacity, Mr. McNatt oversees the four groups comprising AssetMark’s Investment division including: Platform Investment Strategy; Investment Management; Investment Service and Operations; and Product Strategy & Development. Mr. McNatt served as Senior Vice President, Product Strategy and Management from 2015 to 2021. Prior to joining AssetMark, Mr. McNatt held senior leadership roles at Russell Investments, Charles Schwab and Franklin Templeton focused on the strategy, development and management of asset management products and services.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 33.43 | 6.8 | 1.16 |