Fund Evaluator:
Gateway Equity Call Premium C (GCPCX)
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Best Performing in Derivative Income Over the Last Year
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Fund Details
Gateway Equity Call Premium C Overview
Gateway Equity Call Premium C (GCPCX) is an actively managed Nontraditional Equity Derivative Income fund. Natixis Funds launched the fund in 2014.
The investment seeks total return with less risk than U.S. equity markets. Under normal circumstances, the fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in equity securities. It 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. The fund may also invest in affiliated and unaffiliated mutual funds and exchange-traded funds, to the extent permitted by the Investment Company Act of 1940.
About Gateway Equity Call Premium C (GCPCX)
There are 4 members of the management team with an average tenure of 10.19 years: Michael Buckius (2014), Daniel Ashcraft (2014), Mitchell Trotta (2021), Kenneth Toft (2014). 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 CBOE S&P 500 BuyWrite BXM TR USD index with a weighting of 100%. Gateway Equity Call Premium C has 291 securities in its portfolio. The top 10 holdings constitute 39.8% 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 Equity Call Premium C is part of the Equity global asset class and is within the Nontraditional Equity fund group. Gateway Equity Call Premium C has 4.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 91.7%. There is 4.0% 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 Equity Call Premium C has 4.3% of the portfolio in cash.
Assets Under Management
The fund has $578 million in total assets, which is below the $233 million average for the Derivative Income 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.
GCPCX 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 Equity Call Premium C expense ratio is high compared to funds in the Derivative Income category. Gateway Equity Call Premium C has an expense ratio of 1.68%, which is 50% higher than its category average, making the fund expense ratio grade a F. 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. Gateway Equity Call Premium C has a portfolio turnover rate of 18%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 114% for the Derivative Income category.
Recently, in the month of July 2026, Gateway Equity Call Premium C returned 0.3%, which earned it a grade of F, as the Derivative Income category had an average return of 1.7%. 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 Equity Call Premium C has a trailing yield of 0.00%, which is below the 4.47% category average. The fund normally distributes its income quarterly.
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 Equity Call Premium C Grades
Year to date, the fund has returned 6.0%, 2.0 percentage points worse than the category, which translates into a grade of D. The fund has returned 14.7% over the past year (grade of C), 12.3% over the past three years (grade of C) and 8.3% per year over the past five years (grade of C) and 8.4% per year over the past 10 years (grade of C).
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GCPCX 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 |
|
| GCPCX Return (NAV) | 0.3% | 3.8% | 14.7% | 12.3% | 8.3% | 8.4% |
| GCPCX Grade | F | C | C | C | C | C |
| +/- Category | -1.4% | 0.3% | -0.2% | 0.5% | 0.3% | -0.2% |
| Derivative Income Avg | 1.7% | 3.6% | 15.0% | 11.8% | 8.0% | 8.6% |
| GCPCX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.0% | 0.0% |
GCPCX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| GCPCX Return (NAV) | 6.0% | 12.1% | 16.5% | 16.4% | -12.4% | 18.3% | 7.2% | 15.5% | -6.2% | 11.0% | 6.8% |
| GCPCX Grade | D | C | C | B | D | F | B | F | C | D | F |
| +/- Category | -2.0% | -0.2% | 3.5% | 4.0% | -4.3% | -2.0% | 2.2% | -3.5% | 0.5% | -3.4% | -2.8% |
| Derivative Income Avg | 8.0% | 12.3% | 12.9% | 12.5% | -8.1% | 20.3% | 5.0% | 19.1% | -6.7% | 14.4% | 9.7% |
| Risk Measures | |
| Standard Deviation: | 7.9% |
| Total Risk Index: | 0.65 - Below Average |
| Category Risk Index: | 0.80 - Low |
| Category Risk Grade: | A (2% Rank) |
| Beta: | 0.59 |
| R-Squared: | 93% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | |
| Total Assets: | $334 Mil |
| Fund Total Assets: | $ 1 Mil |
| Share Class Type: | C |
| Portfolio Turnover: | 18% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 11.8 years | |||
| Average Tenure: 10.2 years | |||
| Managers (Year): Buckius Michael (2014), Ashcraft Daniel (2014), Toft Kenneth (2014), Trotta Mitchell (2021) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 291 |
| % in Top 10 Holdings: | 39.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.0% |
Portfolio Allocation |
|
| Domestic Stock: | 91.7% |
| Foreign Stock: | 4.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 4.3% |
Purchase Information
| Fund Family: | Natixis Funds |
| Phone Number: | 800-225-5478 |
| Website: | NGAM.natixis.com |
| Status: | Open |
| Inception Date: | September 30, 2014 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | No |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 1.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 1.00% |
Expenses and Fees | |
| Expense Ratio (%): | 1.68% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.12% |
| Share Class: | Gateway Equity Call Premium Y |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
