GCPYX vs. NRFYX

Last updated Aug 4, 2026

GCPYX (Gateway Equity Call Premium Fund) and NRFYX (Natixis Funds Trust IV AEW Global Focused Real Estate Fund) are both mutual funds - GCPYX is a Options Trading fund managed by Natixis, while NRFYX is a REIT fund managed by Natixis. Over the past 10 years, GCPYX returned 9.44%/yr vs 3.89%/yr for NRFYX. Their 0.57 correlation means they have sometimes moved together and sometimes differently. GCPYX charges 0.68%/yr vs 0.90%/yr for NRFYX.

Performance

GCPYX vs. NRFYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gateway Equity Call Premium Fund (GCPYX) and Natixis Funds Trust IV AEW Global Focused Real Estate Fund (NRFYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GCPYX achieves a 6.55% return, which is significantly lower than NRFYX's 13.99% return. Over the past 10 years, GCPYX has outperformed NRFYX with an annualized return of 9.44%, while NRFYX has yielded a comparatively lower 3.89% annualized return.

GCPYX

• 1D: 0.55%
• 1M: 0.38%
• 6M: 5.05%
• YTD: 6.55%
• 1Y: 15.68%
• 3Y*: 13.38%
• 5Y*: 9.39%
• 10Y*: 9.44%
• ALL TIME*: 8.65%

NRFYX

• 1D: -0.94%
• 1M: 1.28%
• 6M: 11.14%
• YTD: 13.99%
• 1Y: 19.00%
• 3Y*: 10.19%
• 5Y*: 2.21%
• 10Y*: 3.89%
• ALL TIME*: 8.74%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GCPYX Gateway Equity Call Premium Fund	$0.00	$0.00	$0.00
NRFYX Natixis Funds Trust IV AEW Global Focused Real Estate Fund	$0.00	$0.00	$0.00

GCPYX vs. NRFYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GCPYX Gateway Equity Call Premium Fund	6.55%	12.59%	18.15%	17.59%	-11.48%	19.28%	8.38%	16.67%	-5.37%	12.22%
NRFYX Natixis Funds Trust IV AEW Global Focused Real Estate Fund	13.99%	7.51%	1.47%	13.42%	-25.75%	28.33%	-5.50%	24.32%	-4.52%	3.78%

Correlation

The correlation between GCPYX and NRFYX is 0.27, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.27
Correlation (3Y) Balances recent behavior with more history.	0.48
Correlation (5Y) Shows whether the relationship held over a longer period.	0.60
Correlation (10Y) Provides a long-term view across more market conditions.	0.56
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014	0.57

Over the past year, the correlation between GCPYX and NRFYX has dropped to 0.27 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

Return for Risk

GCPYX vs. NRFYX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GCPYX

GCPYX Risk / Return Rank: 81
GCPYX Sharpe Ratio Rank: 79
GCPYX Sortino Ratio Rank: 79
GCPYX Omega Ratio Rank: 80
GCPYX Calmar Ratio Rank: 77
GCPYX Martin Ratio Rank: 91

NRFYX

NRFYX Risk / Return Rank: 62
NRFYX Sharpe Ratio Rank: 67
NRFYX Sortino Ratio Rank: 65
NRFYX Omega Ratio Rank: 61
NRFYX Calmar Ratio Rank: 59
NRFYX Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GCPYX vs. NRFYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gateway Equity Call Premium Fund (GCPYX) and Natixis Funds Trust IV AEW Global Focused Real Estate Fund (NRFYX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GCPYX	NRFYX	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.69	+0.23
Sortino ratio: Return per unit of downside risk	2.78	2.39	+0.39
Omega ratio: Gain probability vs. loss probability	1.37	1.30	+0.07
Calmar ratio: Return relative to maximum drawdown	2.63	2.22	+0.41
Martin ratio: Return relative to average drawdown	13.30	8.34	+4.97

GCPYX vs. NRFYX - Sharpe Ratio Comparison

The current GCPYX Sharpe Ratio is 1.92, which is comparable to the NRFYX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of GCPYX and NRFYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GCPYX vs. NRFYX - Drawdown Comparison

The maximum GCPYX drawdown since its inception was -25.24%, smaller than the maximum NRFYX drawdown of -73.64%. Use the drawdown chart below to compare losses from any high point for GCPYX and NRFYX.

Drawdown Indicators

	GCPYX	NRFYX	Difference
Max Drawdown Largest peak-to-trough decline	-25.24%	-73.64%	+48.40%
Max Drawdown (1Y) Largest decline over 1 year	-7.02%	-10.10%	+3.08%
Max Drawdown (3Y) Largest decline over 3 years	-15.49%	-18.91%	+3.42%
Max Drawdown (5Y) Largest decline over 5 years	-18.33%	-33.95%	+15.62%
Max Drawdown (10Y) Largest decline over 10 years	-25.24%	-40.31%	+15.07%
Current Drawdown Current decline from peak	-0.71%	-1.56%	+0.85%
Average Drawdown Average peak-to-trough decline	-2.79%	-12.39%	+9.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.29%	2.56%	-1.27%

Volatility

GCPYX vs. NRFYX - Volatility Comparison

The current volatility for Gateway Equity Call Premium Fund (GCPYX) is 2.68%, while Natixis Funds Trust IV AEW Global Focused Real Estate Fund (NRFYX) has a volatility of 3.57%. This indicates that GCPYX experiences smaller price fluctuations and is considered to be less risky than NRFYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GCPYX	NRFYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	3.57%	-0.89%
Volatility (6M) Calculated over the trailing 6-month period	7.50%	10.51%	-3.01%
Volatility (1Y) Calculated over the trailing 1-year period	9.60%	13.31%	-3.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.37%	17.37%	-5.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.49%	18.41%	-5.92%

GCPYX vs. NRFYX - Expense Ratio Comparison

GCPYX has a 0.68% expense ratio, which is lower than NRFYX's 0.90% expense ratio.

Dividends

GCPYX vs. NRFYX - Dividend Comparison

GCPYX's dividend yield for the trailing twelve months is around 0.39%, less than NRFYX's 3.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GCPYX Gateway Equity Call Premium Fund	0.39%	0.44%	0.73%	0.92%	0.96%	0.47%	0.82%	1.07%	1.12%	1.03%	1.15%	1.47%
NRFYX Natixis Funds Trust IV AEW Global Focused Real Estate Fund	3.03%	2.24%	4.51%	2.66%	3.05%	5.98%	3.81%	17.61%	10.05%	10.64%	11.02%	9.66%

Frequently Asked Questions

Can I hold both GCPYX and NRFYX in my portfolio?

GCPYX and NRFYX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GCPYX or NRFYX?

NRFYX has higher volatility (3.57%) compared to GCPYX (2.68%). In terms of maximum drawdown, GCPYX dropped -25.24% vs NRFYX's -73.64%.

Which has better risk-adjusted returns?

GCPYX currently has the higher Sharpe Ratio (1.92 vs 1.69), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.