Fund Evaluator:
Gateway A (GATEX)
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Best Performing in Equity Hedged Over the Last Year
| 14.3% | Parametric Volatil Risk Prm-Defensv I (EIVPX) |
| 13.7% | Cavanal Hill Hedged Equity Income Inv (APLIX) |
| 13.5% | Fidelity Advisor Hedged Equity Z (FEQZX) |
| 12.5% | T. Rowe Price Hedged Equity Z (PZHEX) |
| 11.6% | MAI Managed Volatility Investor (DIVPX) |
Fund Details
Gateway A Overview
Gateway A (GATEX) is an actively managed Nontraditional Equity Equity Hedged fund. Natixis Funds launched the fund in 1977.
The investment seeks to capture the majority of the returns associated with equity market investments, while exposing investors to less risk than other equity investments. 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.
About Gateway A (GATEX)
There are 4 members of the management team with an average tenure of 11.78 years: Michael Buckius (2008), Daniel Ashcraft (2016), Mitchell Trotta (2021), Kenneth Toft (2013). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Bloomberg US Agg Bond TR USD index with a weighting of 100%. Gateway A has 226 securities in its portfolio. The top 10 holdings constitute 42.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Gateway A is part of the Equity global asset class and is within the Nontraditional Equity fund group. Gateway A has 0.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 98.3%. There is 0.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Gateway A has 0.9% of the portfolio in cash.
Assets Under Management
The fund has $659 million in total assets, which is above the $432 million average for the Equity Hedged category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
GATEX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Gateway A expense ratio is high compared to funds in the Equity Hedged category. Gateway A has an expense ratio of 0.94%, which is 32% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. A portfolio turnover rate cannot be currently calculated for Gateway A. By way of comparison, the average portfolio turnover is 69% for the Equity Hedged category.
Recently, in the month of July 2026, Gateway A returned 0.2%, which earned it a grade of C, as the Equity Hedged category had an average return of -0.0%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Gateway A has a trailing yield of 0.18%, which is below the 0.94% category average. The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Gateway A Grades
Year to date, the fund has returned 4.5%, 0.9 percentage points worse than the category, which translates into a grade of D. The fund has returned 10.6% over the past year (grade of D), 10.6% over the past three years (grade of C) and 6.6% per year over the past five years (grade of C) and 6.7% per year over the past 10 years (grade of C).
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GATEX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| GATEX Return (NAV) | 0.2% | 2.1% | 10.6% | 10.6% | 6.6% | 6.7% |
| GATEX Grade | C | C | D | C | C | C |
| +/- Category | 0.2% | 0.0% | 0.0% | 0.7% | 0.7% | 0.1% |
| Equity Hedged Avg | -0.0% | 2.1% | 10.6% | 9.9% | 5.9% | 6.6% |
| GATEX Tax Cost Ratio | na | na | 0.1% | 0.1% | 0.2% | 0.2% |
GATEX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GATEX Return (NAV) | 4.5% | 10.6% | 15.1% | 14.4% | -12.1% | 11.2% | 6.9% | 10.8% | -4.4% | 9.7% | 5.2% |
| GATEX Grade | D | B | C | C | D | D | D | D | D | C | C |
| +/- Category | -0.9% | 1.2% | 2.9% | 2.1% | -2.3% | -0.0% | -3.9% | -3.3% | -1.7% | 0.8% | 0.7% |
| Equity Hedged Avg | 5.4% | 9.4% | 12.2% | 12.3% | -9.8% | 11.3% | 10.8% | 14.1% | -2.7% | 8.9% | 4.5% |
| Risk Measures | |
| Standard Deviation: | 7.0% |
| Total Risk Index: | 0.57 - Below Average |
| Category Risk Index: | 0.88 - Below Average |
| Category Risk Grade: | B (35% Rank) |
| Beta: | 0.52 |
| R-Squared: | 95% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.2% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $7257 Mil |
| Fund Total Assets: | $ 659 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | na |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 18.2 years | |||
| Average Tenure: 11.8 years | |||
| Managers (Year): Buckius Michael (2008), Toft Kenneth (2013), Ashcraft Daniel (2016), Trotta Mitchell (2021) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 226 |
| % in Top 10 Holdings: | 42.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.8% |
Portfolio Allocation |
|
| Domestic Stock: | 98.3% |
| Foreign Stock: | 0.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.9% |
Purchase Information
| Fund Family: | Natixis Funds |
| Phone Number: | 800-225-5478 |
| Website: | NGAM.natixis.com |
| Status: | Open |
| Inception Date: | December 7, 1977 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | No |
| Front Load Maximum: | 5.75% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.94% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.39% |
| Share Class: | Gateway A |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
