Yes, it will fade if left untreated – as all wood products do – but this will not impact rot resistance or stability.
Treat with penetrating oil (not a sealer) with colourtone to reflect the UV rays of the sun to allow the wood color to last longer or allow to age naturally to a beautiful silver-gray.
The aging process typically happens within 6 months. Keep in mind that wood is a natural material and so any color changes may be uneven. Each board ages in its own way and different sides of the building’s facade will also age differently depending on the sun and rain they’re exposed to.