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Trending ETFs

Gateway Equity Call Premium Fund

mutual fund
GCPYX
Payout Change
Pending
Price as of:
$18.36 +0.07 +0.38%
primary theme
N/A
GCPYX (Mutual Fund)

Gateway Equity Call Premium Fund

Payout Change
Pending
Price as of:
$18.36 +0.07 +0.38%
primary theme
N/A
GCPYX (Mutual Fund)

Gateway Equity Call Premium Fund

Payout Change
Pending
Price as of:
$18.36 +0.07 +0.38%
primary theme
N/A

Name

As of 05/24/2024

Price

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

$18.36

$303 M

0.86%

$0.16

0.84%

Vitals

YTD Return

8.3%

1 yr return

16.7%

3 Yr Avg Return

7.2%

5 Yr Avg Return

9.8%

Net Assets

$303 M

Holdings in Top 10

32.9%

52 WEEK LOW AND HIGH

$18.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.84%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 5.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$100,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/24/2024

Price

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

$18.36

$303 M

0.86%

$0.16

0.84%

GCPYX - Profile

Distributions

  • YTD Total Return 8.3%
  • 3 Yr Annualized Total Return 7.2%
  • 5 Yr Annualized Total Return 9.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 0.67%
DIVIDENDS
  • Dividend Yield 0.9%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Gateway Equity Call Premium Fund
  • Fund Family Name
    Natixis Loomis Sayles Funds
  • Inception Date
    Sep 30, 2014
  • Shares Outstanding
    N/A
  • Share Class
    Y
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Buckius

Fund Description

Under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in equity securities. Equity securities purchased by the Fund may include the following U.S. exchange-listed securities: common stocks; American Depositary Receipts (“ADRs”), which are securities issued by a U.S. bank that represent interests in foreign equity securities; and interests in real estate investment trusts (“REITs”). The Fund ordinarily invests in a broadly diversified equity portfolio, while also writing (selling) index call options with an aggregate notional value approximately equal to the market value of the equity portfolio. Writing index call options is intended to reduce the Fund’s volatility and provide steady cash flow. Cash flow from call option writing is intended to be an important source of the Fund’s return, although the Fund’s option writing activity reduces the Fund’s ability to profit from increases in the value of its equity portfolio. The combination of a diversified stock portfolio and the steady cash flow from the sale of index call options is intended to moderate the volatility of returns relative to an all-equity portfolio. The Fund may invest in companies with small, medium or large market capitalizations.
The Fund’s combination of a broadly diversified portfolio of common stocks and written index call options is similar to the components of the Cboe S&P 500 BuyWrite Index (the “BXMSM”). The BXMSM is a passive total return index based on (1) buying an S&P 500® stock index portfolio, and (2) writing (selling) the near-term S&P 500® Index “covered” call option. The Fund’s more flexible, active option management approach creates the potential for it to achieve higher long-term returns than the BXMSM while exhibiting a similar level of volatility, as defined by standard deviation of returns. The similarities between the BXMSM and the Fund’s equity investment strategy are expected to result in the Fund exhibiting a positive correlation to the broad U.S. equity markets similar to that exhibited by the BXMSM.
With its core investment in equities, the Fund is intended to be significantly less vulnerable to fluctuations in value caused by interest rate volatility, a risk factor present in both fixed-income investments and “hybrid investments” (blends of equity and fixed-income securities). Through the use of index options, the Fund intends that its risk management strategy will reduce the volatility inherent in equity investments while also allowing for more participation in equity returns than hybrid investments. Thus, the Fund seeks to provide an efficient trade-off between risk and reward, where risk is characterized by volatility or fluctuations in value over time.
Purchasing Stocks
The Fund invests in a diversified stock portfolio, generally consisting of approximately 200 to 400 stocks (including ADRs and REITs), designed to support the Fund’s index option-based risk management strategy as efficiently as possible while seeking to enhance the Fund’s after-tax total return. The Adviser uses a multifactor quantitative model to construct the stock portfolio. The model evaluates U.S.-exchange-traded equities that meet the criteria and constraints established by the Adviser. Generally, the Adviser tries to minimize the difference between the performance of the Fund’s stock portfolio and the performance of the index or indices underlying the Fund’s option strategies while also considering other factors, such as predicted dividend yield. The Adviser monitors this difference and other factors, and rebalances and adjusts the stock portfolio from time to time, by purchasing and selling stocks. To the extent consistent with the Fund’s investment goal, the Adviser may also sell stocks to realize capital losses in an effort to minimize any required capital gain distributions. The Adviser expects the portfolio to generally represent the broad U.S. equity market.
Writing Index Call Options
The Fund continuously writes index call options, typically on broad-based securities market indices, with an aggregate notional value approximately equal to the market value of its broadly diversified stock portfolio. As the seller of the index call option, the Fund receives cash (the “premium”) from the purchaser. The purchaser of an index call option has the right to any appreciation in the value of the index 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 Fund retains the premium. If the purchaser exercises the option, the Fund pays the purchaser the difference between the value of the index and the exercise price of the option. The premium, the exercise price and the value of the index determine the gain or loss realized by the Fund as the seller of the index call option. The Fund can also repurchase the call option prior to the expiration date, ending its obligation. In such a case, the difference between the cost of repurchasing the option and the premium received will determine the gain or loss realized by the Fund. 
Other Investments
The Fund may invest in foreign securities traded in U.S. markets (through ADRs or stocks traded in U.S. dollars). The Fund may enter into repurchase agreements and/or hold cash and cash equivalents.
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GCPYX - Performance

Return Ranking - Trailing

Period GCPYX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.3% -2.8% 240.8% 23.32%
1 Yr 16.7% -4.3% 140.6% 28.70%
3 Yr 7.2%* -8.3% 18.3% 30.77%
5 Yr 9.8%* -5.0% 17.3% 27.12%
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period GCPYX Return Category Return Low Category Return High Rank in Category (%)
2023 16.4% -34.1% 904.0% 32.88%
2022 -12.3% -28.6% 438.4% 20.81%
2021 18.7% -93.5% 8.2% 31.03%
2020 7.4% -38.9% 19.8% 24.81%
2019 15.4% -10.9% 12.8% 13.59%

Total Return Ranking - Trailing

Period GCPYX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.3% -2.7% 244.0% 23.32%
1 Yr 16.7% -4.3% 140.6% 28.26%
3 Yr 7.2%* -8.3% 18.3% 28.21%
5 Yr 9.8%* -5.4% 17.3% 27.12%
10 Yr N/A* -4.6% 13.2% N/A

* Annualized

Total Return Ranking - Calendar

Period GCPYX Return Category Return Low Category Return High Rank in Category (%)
2023 17.6% -34.1% 904.0% 32.88%
2022 -11.5% -5.9% 438.4% 21.39%
2021 19.3% -81.2% 8.2% 33.10%
2020 8.4% -29.0% 19.8% 23.26%
2019 16.7% -10.9% 12.8% 17.48%

NAV & Total Return History


GCPYX - Holdings

Concentration Analysis

GCPYX Category Low Category High GCPYX % Rank
Net Assets 303 M 25 17.4 B 59.18%
Number of Holdings 255 2 508 6.11%
Net Assets in Top 10 89.1 M -6.66 M 5.12 B 79.77%
Weighting of Top 10 32.93% 11.3% 100.0% 80.67%

Top 10 Holdings

  1. Apple Inc 7.10%
  2. Microsoft Corp 7.06%
  3. Amazon.com Inc 3.53%
  4. NVIDIA Corp 3.14%
  5. Alphabet Inc 2.61%
  6. FIXED INC CLEARING CORP.REPO 2.41%
  7. Meta Platforms Inc 2.04%
  8. Berkshire Hathaway Inc 1.92%
  9. Tesla Inc 1.77%
  10. Broadcom Inc 1.34%

Asset Allocation

Weighting Return Low Return High GCPYX % Rank
Stocks
99.45% -3.92% 100.76% 49.24%
Other
0.36% 0.00% 45.92% 43.13%
Cash
0.19% -0.76% 100.29% 43.51%
Preferred Stocks
0.00% 0.00% 3.08% 30.15%
Convertible Bonds
0.00% 0.00% 20.91% 32.44%
Bonds
0.00% 0.00% 97.96% 36.26%

Stock Sector Breakdown

Weighting Return Low Return High GCPYX % Rank
Technology
25.24% 0.00% 44.43% 18.49%
Healthcare
13.94% 0.00% 25.91% 34.45%
Financial Services
12.69% 0.00% 29.60% 73.95%
Consumer Cyclical
11.13% 0.00% 19.02% 30.25%
Communication Services
8.60% 0.00% 21.22% 21.43%
Industrials
8.27% 1.41% 43.91% 56.30%
Consumer Defense
7.69% 0.00% 22.87% 78.15%
Energy
4.36% 0.00% 69.54% 25.21%
Real Estate
3.04% 0.00% 9.74% 21.01%
Utilities
2.99% 0.00% 13.35% 79.83%
Basic Materials
2.05% 0.00% 60.58% 84.87%

Stock Geographic Breakdown

Weighting Return Low Return High GCPYX % Rank
US
99.45% -3.89% 100.00% 50.76%
Non US
0.00% -2.17% 99.33% 26.72%

GCPYX - Expenses

Operational Fees

GCPYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.84% 0.20% 6.78% 45.27%
Management Fee 0.58% 0.20% 1.75% 18.28%
12b-1 Fee 0.00% 0.00% 1.00% 16.09%
Administrative Fee N/A 0.02% 0.28% N/A

Sales Fees

GCPYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 4.75% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

GCPYX 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.

GCPYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 5.00% 0.00% 456.80% 40.18%

GCPYX - Distributions

Dividend Yield Analysis

GCPYX Category Low Category High GCPYX % Rank
Dividend Yield 0.86% 0.00% 3.76% 34.20%

Dividend Distribution Analysis

GCPYX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually Monthly Annually

Net Income Ratio Analysis

GCPYX Category Low Category High GCPYX % Rank
Net Income Ratio 0.67% -2.54% 14.24% 34.84%

Capital Gain Distribution Analysis

GCPYX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

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GCPYX - Fund Manager Analysis

Managers

Michael Buckius


Start Date

Tenure

Tenure Rank

Sep 30, 2014

7.67

7.7%

Michael Buckius joined Gateway Investment Advisers, LLC in 1999 and is currently the firm’s Chief Investment Officer, Senior Vice President and a member of the Board of Managers. Mr. Buckius also serves as a co-portfolio manager for several mutual funds advised or sub-advised by the firm, in addition to the firm’s separate account strategies. As Chief Investment Officer, Mr. Buckius oversees the firm’s investment management and trading functions, as well as product development and servicing individual client relationships.

Daniel Ashcraft


Start Date

Tenure

Tenure Rank

Sep 30, 2014

7.67

7.7%

Daniel Ashcraft joined Gateway Investment Advisers, LLC in 2009 and is a co-portfolio manager for several mutual funds advised or sub-advised by the firm, in addition to the firm’s separate account strategies. In this role, Mr. Ashcraft is involved in trading and analysis as well as implementation of the firm’s equity multi-factor model. Mr. Ashcraft earned his BS from Miami University, Ohio, and is a CFA® charterholder.

Kenneth Toft


Start Date

Tenure

Tenure Rank

Sep 30, 2014

7.67

7.7%

Kenneth Toft joined Gateway Investment Advisers, LLC in 1992 and is currently a Senior Vice President and serves as a co-portfolio manager for several mutual funds advised or sub-advised by the firm, in addition to the firm’s separate account strategies. Mr. Toft is responsible for managing portfolios using hedging strategies for growth-oriented, high-volatility indexes as well as trading and servicing individual client relationships. Prior to joining Gateway, Mr. Toft served as a registered representative for Fidelity Investments.

Mitchell Trotta


Start Date

Tenure

Tenure Rank

May 01, 2021

1.08

1.1%

Mitchell Trotta joined Gateway Investment Advisers, LLC in 2016 and is currently a Portfolio Manager. Mr. Trotta is actively involved in the management of several mutual funds advised or sub-advised by the firm, in addition to the firm’s separate account strategies. In his role, Mr. Trotta is responsible for trading, providing analytical work supporting investment management decisions, and implementing the firm’s equity multi-factor model. Prior to joining Gateway, Mr. Trotta served as an associate for PNC Bank in the Asset Management Group. Mr. Trotta earned his BBA in Finance from the University of Cincinnati and is a CFA® charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 19.77 3.61 5.67