QVOPX vs. GFSYX

Last updated Jun 5, 2026

QVOPX (Invesco Fundamental Alternatives Fund) and GFSYX (GuideStone Funds Strategic Alternatives Fund) are both Multistrategy funds. Over the past 5 years, QVOPX returned 0.58%/yr vs 4.64%/yr for GFSYX. At a 0.23 correlation, their price movements are largely independent. QVOPX charges 1.33%/yr vs 1.15%/yr for GFSYX.

Performance

QVOPX vs. GFSYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Fundamental Alternatives Fund (QVOPX) and GuideStone Funds Strategic Alternatives Fund (GFSYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QVOPX achieves a 0.24% return, which is significantly higher than GFSYX's 0.22% return.

QVOPX

• 1D: 0.12%
• 1M: -0.08%
• YTD: 0.24%
• 6M: 4.03%
• 1Y: 3.34%
• 3Y*: 3.13%
• 5Y*: 0.58%
• 10Y*: 1.16%

GFSYX

• 1D: 0.11%
• 1M: 1.12%
• YTD: 0.22%
• 6M: 1.07%
• 1Y: 3.02%
• 3Y*: 5.79%
• 5Y*: 4.64%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

QVOPX vs. GFSYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QVOPX Invesco Fundamental Alternatives Fund	0.24%	0.38%	5.71%	3.55%	-7.28%	2.49%	1.46%	6.58%	-2.09%	-0.46%
GFSYX GuideStone Funds Strategic Alternatives Fund	0.22%	5.49%	7.60%	5.98%	-0.57%	4.96%	-0.17%	4.94%	0.14%	1.20%

Correlation

The correlation between QVOPX and GFSYX is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since Jul 21, 2017	0.23

Over the past year, the correlation between QVOPX and GFSYX has dropped to 0.00 - well below their long-term average of 0.23, suggesting their price drivers have been diverging.

Return for Risk

QVOPX vs. GFSYX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QVOPX

QVOPX Risk / Return Rank: 8
QVOPX Sharpe Ratio Rank: 8
QVOPX Sortino Ratio Rank: 7
QVOPX Omega Ratio Rank: 8
QVOPX Calmar Ratio Rank: 8
QVOPX Martin Ratio Rank: 7

GFSYX

GFSYX Risk / Return Rank: 21
GFSYX Sharpe Ratio Rank: 17
GFSYX Sortino Ratio Rank: 17
GFSYX Omega Ratio Rank: 17
GFSYX Calmar Ratio Rank: 35
GFSYX Martin Ratio Rank: 17

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

QVOPX vs. GFSYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Fundamental Alternatives Fund (QVOPX) and GuideStone Funds Strategic Alternatives Fund (GFSYX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	QVOPX	GFSYX	Difference
Sharpe ratio: Return per unit of total volatility	0.58	1.15	-0.56
Sortino ratio: Return per unit of downside risk	0.89	1.66	-0.77
Omega ratio: Gain probability vs. loss probability	1.11	1.21	-0.10
Calmar ratio: Return relative to maximum drawdown	0.75	2.18	-1.44
Martin ratio: Return relative to average drawdown	1.64	4.62	-2.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QVOPX vs. GFSYX - Sharpe Ratio Comparison

The current QVOPX Sharpe Ratio is 0.58, which is lower than the GFSYX Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of QVOPX and GFSYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QVOPX	GFSYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.58	1.15	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	1.27	-1.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.90	-0.27

Drawdowns

QVOPX vs. GFSYX - Drawdown Comparison

The maximum QVOPX drawdown since its inception was -30.55%, which is greater than GFSYX's maximum drawdown of -9.54%. Use the drawdown chart below to compare losses from any high point for QVOPX and GFSYX.

Drawdown Indicators

	QVOPX	GFSYX	Difference
Max Drawdown Largest peak-to-trough decline	-30.55%	-9.54%	-21.01%
Max Drawdown (1Y) Largest decline over 1 year	-5.46%	-1.34%	-4.12%
Max Drawdown (3Y) Largest decline over 3 years	-6.67%	-4.49%	-2.18%
Max Drawdown (5Y) Largest decline over 5 years	-9.71%	-4.49%	-5.22%
Max Drawdown (10Y) Largest decline over 10 years	-9.71%	—	—
Current Drawdown Current decline from peak	-4.92%	-0.22%	-4.70%
Average Drawdown Average peak-to-trough decline	-4.60%	-0.91%	-3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	0.65%	+2.09%

Volatility

QVOPX vs. GFSYX - Volatility Comparison

Invesco Fundamental Alternatives Fund (QVOPX) has a higher volatility of 1.39% compared to GuideStone Funds Strategic Alternatives Fund (GFSYX) at 0.91%. This indicates that QVOPX's price experiences larger fluctuations and is considered to be riskier than GFSYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QVOPX	GFSYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.39%	0.91%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	5.94%	1.95%	+3.99%
Volatility (1Y) Calculated over the trailing 1-year period	6.99%	2.54%	+4.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.63%	3.66%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.33%	3.71%	+0.62%

QVOPX vs. GFSYX - Expense Ratio Comparison

QVOPX has a 1.33% expense ratio, which is higher than GFSYX's 1.15% expense ratio.

Dividends

QVOPX vs. GFSYX - Dividend Comparison

QVOPX's dividend yield for the trailing twelve months is around 0.74%, less than GFSYX's 7.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GFSYX GuideStone Funds Strategic Alternatives Fund	7.16%	7.18%	8.54%	13.00%	4.20%	1.59%	1.53%	2.24%	2.17%	0.70%	0.00%	0.00%
QVOPX Invesco Fundamental Alternatives Fund	0.74%	0.74%	2.10%	4.62%	2.55%	2.87%	1.90%	2.01%	1.77%	1.59%	0.26%	0.53%

Frequently Asked Questions

Can I hold both QVOPX and GFSYX in my portfolio?

QVOPX and GFSYX have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QVOPX or GFSYX?

QVOPX has higher volatility (1.39%) compared to GFSYX (0.91%). In terms of maximum drawdown, QVOPX dropped -30.55% vs GFSYX's -9.54%.

Which has better risk-adjusted returns?

GFSYX currently has the higher Sharpe Ratio (1.15 vs 0.58), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.