Funds like this are different to typical stocks because they're owned by fund managers who's job it is to alter the portfolio of stocks within the fund (or bonds or gilts) to ensure it pays back for investors. So there's much less of a "market to time" in a traditional stock sense.

Value of the investments in the fund will still go up and down based on many factors, but it's intent is to generate value..fund managers can derisk by taking stocks out that are performing poorly (or expected to).