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Gateway Fund
GTENX (Mutual Fund)
Gateway Fund
Name
As of 12/13/2024Price
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
17.9%
1 yr return
18.5%
3 Yr Avg Return
6.1%
5 Yr Avg Return
7.5%
Net Assets
$6.73 B
Holdings in Top 10
37.1%
52 WEEK LOW AND HIGH
$47.3
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 0.66%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 11.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/13/2024Price
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
GTENX - Profile
Distributions
- YTD Total Return 17.9%
- 3 Yr Annualized Total Return 6.1%
- 5 Yr Annualized Total Return 7.5%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.74%
- Dividend Yield 0.6%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameGateway Fund
-
Fund Family NameNatixis Loomis Sayles Funds
-
Inception DateMay 01, 2017
-
Shares OutstandingN/A
-
Share ClassN
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPaul Stewart
Fund Description
Under normal circumstances, the Fund invests in a broadly diversified portfolio of common stocks, while also selling index call options and purchasing index put options. Writing index call options is intended to reduce the Fund’s volatility, provides steady cash flow and is an important source of the Fund’s return, although it also reduces the Fund’s ability to profit from increases in the value of its equity portfolio. The Fund also buys index put options, which can protect the Fund from a significant market decline that may occur over a short period of time. The value of an index put option generally increases as the prices of the stocks constituting the index decrease, and decreases as those stocks increase in price. From time to time, the Fund may reduce its holdings of put options, resulting in an increased exposure to a market decline. The combination of the diversified stock portfolio, the steady cash flow from the sale of index call options and the downside protection from index put options is intended to provide the Fund with the majority of the returns associated with equity market investments while exposing investors to less risk than other equity investments. The Fund may invest in companies with small, medium or large market capitalizations. Equity securities purchased by the Fund may include U.S. exchange-listed 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 strives not only for the majority of the returns associated with equity market investments, but also for returns in excess of those available from other investments comparable in volatility. Because, as described above, the Fund writes index call options and purchases index put options in addition to investing in equity securities, the Fund’s historical volatility has been closer to intermediate- to long-term fixed-income investments (intermediate-term are those with approximately five-year maturities and long-term are those with maturities of ten or more years) and hybrid investments (blends of equity and short-term fixed-income securities) than to equity investments. With its core investment in equities, the Fund is 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 short-term fixed-income), although the Fund expects to generally have lower long-term returns than a fund consisting solely of equity 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, 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 criteria and constraints established by the Adviser. Generally, the Adviser tries to minimize the difference between the performance of the stock portfolio and that 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 the 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, on the full 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 this case, the difference between the cost of repurchasing the option and the premium received will determine the gain or loss realized by the Fund.
Purchasing Index Put Options
The Fund may buy index put options in an attempt to protect the Fund from a significant market decline that may occur over a short period of time. The value of an index put option generally increases as stock prices (and the value of the index) decrease and decreases as those stocks (and the index) increase in price.
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.
GTENX - Performance
Return Ranking - Trailing
| Period | GTENX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 17.9% | -2.8% | 240.8% | 58.10% |
| 1 Yr | 18.5% | -4.3% | 140.6% | 66.09% |
| 3 Yr | 6.1%* | -8.3% | 18.3% | 63.46% |
| 5 Yr | 7.5%* | -5.0% | 17.3% | 60.17% |
| 10 Yr | N/A* | -4.6% | 13.2% | 70.59% |
* Annualized
Return Ranking - Calendar
| Period | GTENX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.6% | -34.1% | 904.0% | 42.79% |
| 2022 | -12.6% | -28.6% | 438.4% | 61.27% |
| 2021 | 10.8% | -93.5% | 8.2% | 24.83% |
| 2020 | 5.9% | -38.9% | 19.8% | N/A |
| 2019 | 9.6% | -10.9% | 12.8% | N/A |
Total Return Ranking - Trailing
| Period | GTENX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 17.9% | -2.7% | 244.0% | 58.50% |
| 1 Yr | 18.5% | -4.3% | 140.6% | 63.91% |
| 3 Yr | 6.1%* | -8.3% | 18.3% | 60.26% |
| 5 Yr | 7.5%* | -5.4% | 17.3% | 60.17% |
| 10 Yr | N/A* | -4.6% | 13.2% | 70.59% |
* Annualized
Total Return Ranking - Calendar
| Period | GTENX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 14.8% | -34.1% | 904.0% | 42.79% |
| 2022 | -11.8% | -5.9% | 438.4% | 61.85% |
| 2021 | 11.6% | -81.2% | 8.2% | 26.21% |
| 2020 | 7.2% | -29.0% | 19.8% | N/A |
| 2019 | 11.2% | -10.9% | 12.8% | N/A |
NAV & Total Return History
GTENX - Holdings
Concentration Analysis
| GTENX | Category Low | Category High | GTENX % Rank | |
|---|---|---|---|---|
| Net Assets | 6.73 B | 25 | 17.4 B | 3.37% |
| Number of Holdings | 212 | 2 | 508 | 9.16% |
| Net Assets in Top 10 | 2.48 B | -6.66 M | 5.12 B | 3.44% |
| Weighting of Top 10 | 37.06% | 11.3% | 100.0% | 74.67% |
Top 10 Holdings
- Apple Inc 7.12%
- Microsoft Corp 6.98%
- NVIDIA Corp 6.26%
- Amazon.com Inc 3.75%
- Alphabet Inc 2.97%
- Meta Platforms Inc 2.73%
- Berkshire Hathaway Inc 2.12%
- Broadcom Inc 1.77%
- JPMorgan Chase Co 1.71%
- FIXED INC CLEARING CORP.REPO 1.65%
Asset Allocation
| Weighting | Return Low | Return High | GTENX % Rank | |
|---|---|---|---|---|
| Stocks | 99.38% | -3.92% | 100.76% | 59.92% |
| Other | 0.64% | 0.00% | 45.92% | 66.03% |
| Preferred Stocks | 0.00% | 0.00% | 3.08% | 56.49% |
| Convertible Bonds | 0.00% | 0.00% | 20.91% | 58.40% |
| Cash | 0.00% | -0.76% | 100.29% | 33.59% |
| Bonds | 0.00% | 0.00% | 97.96% | 60.69% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | GTENX % Rank | |
|---|---|---|---|---|
| Technology | 24.41% | 0.00% | 44.43% | 28.57% |
| Healthcare | 14.14% | 0.00% | 25.91% | 77.31% |
| Financial Services | 12.94% | 0.00% | 29.60% | 29.83% |
| Consumer Cyclical | 11.25% | 0.00% | 19.02% | 34.87% |
| Industrials | 9.00% | 1.41% | 43.91% | 23.11% |
| Communication Services | 8.52% | 0.00% | 21.22% | 24.37% |
| Consumer Defense | 7.45% | 0.00% | 22.87% | 83.61% |
| Energy | 4.31% | 0.00% | 69.54% | 28.57% |
| Utilities | 3.05% | 0.00% | 13.35% | 82.35% |
| Real Estate | 2.66% | 0.00% | 9.74% | 74.79% |
| Basic Materials | 2.28% | 0.00% | 60.58% | 86.13% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | GTENX % Rank | |
|---|---|---|---|---|
| US | 99.38% | -3.89% | 100.00% | 44.66% |
| Non US | 0.00% | -2.17% | 99.33% | 75.95% |
GTENX - Expenses
Operational Fees
| GTENX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.66% | 0.20% | 6.78% | 93.42% |
| Management Fee | 0.59% | 0.20% | 1.75% | 16.42% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 39.66% |
| Administrative Fee | N/A | 0.02% | 0.28% | N/A |
Sales Fees
| GTENX 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
| GTENX 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.
| GTENX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 11.00% | 0.00% | 456.80% | 52.23% |
GTENX - Distributions
Dividend Yield Analysis
| GTENX | Category Low | Category High | GTENX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.64% | 0.00% | 3.76% | 59.48% |
Dividend Distribution Analysis
| GTENX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annually | Monthly | Annually |
Net Income Ratio Analysis
| GTENX | Category Low | Category High | GTENX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.74% | -2.54% | 14.24% | 23.36% |
Capital Gain Distribution Analysis
| GTENX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Sep 26, 2024 | $0.075 | OrdinaryDividend |
| Mar 25, 2024 | $0.100 | OrdinaryDividend |
| Dec 19, 2023 | $0.093 | OrdinaryDividend |
| Sep 26, 2023 | $0.092 | OrdinaryDividend |
| Jun 26, 2023 | $0.092 | OrdinaryDividend |
| Mar 24, 2023 | $0.107 | OrdinaryDividend |
| Dec 21, 2022 | $0.088 | OrdinaryDividend |
| Sep 26, 2022 | $0.086 | OrdinaryDividend |
| Jun 24, 2022 | $0.094 | OrdinaryDividend |
| Mar 24, 2022 | $0.066 | OrdinaryDividend |
| Dec 21, 2021 | $0.049 | OrdinaryDividend |
| Sep 24, 2021 | $0.089 | OrdinaryDividend |
| Jun 24, 2021 | $0.080 | OrdinaryDividend |
| Mar 24, 2021 | $0.070 | OrdinaryDividend |
| Dec 18, 2020 | $0.090 | OrdinaryDividend |
| Sep 24, 2020 | $0.092 | OrdinaryDividend |
| Jun 24, 2020 | $0.113 | OrdinaryDividend |
| Mar 25, 2020 | $0.112 | OrdinaryDividend |
| Dec 18, 2019 | $0.107 | OrdinaryDividend |
| Sep 25, 2019 | $0.124 | OrdinaryDividend |
| Jun 25, 2019 | $0.117 | OrdinaryDividend |
| Mar 26, 2019 | $0.128 | OrdinaryDividend |
| Dec 19, 2018 | $0.113 | OrdinaryDividend |
| Sep 25, 2018 | $0.113 | OrdinaryDividend |
| Jun 26, 2018 | $0.111 | OrdinaryDividend |
| Mar 26, 2018 | $0.127 | OrdinaryDividend |
| Dec 20, 2017 | $0.064 | OrdinaryDividend |
| Sep 28, 2017 | $0.137 | OrdinaryDividend |
| Jun 28, 2017 | $0.114 | OrdinaryDividend |
GTENX - Fund Manager Analysis
Managers
Paul Stewart
Start Date
Tenure
Tenure Rank
Dec 15, 2006
15.47
15.5%
Paul Stewart joined Gateway Investment Advisers, LLC in 1995 and is currently the firm’s Chief Executive Officer, President and a member of the Board of Managers. Mr. Stewart 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 Executive Officer and member of the Board, Mr. Stewart oversees the management of Gateway and is involved in high-level decisions regarding firm policy and strategy.
Michael Buckius
Start Date
Tenure
Tenure Rank
Jun 01, 2008
14.01
14.0%
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.
Kenneth Toft
Start Date
Tenure
Tenure Rank
Feb 21, 2013
9.28
9.3%
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.
Daniel Ashcraft
Start Date
Tenure
Tenure Rank
May 01, 2016
6.08
6.1%
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.
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 |
