GTEYX vs. HEGD
GTEYX (Gateway Fund Class Y Shares) and HEGD (Swan Hedged Equity US Large Cap ETF) are both funds - GTEYX is a Options Trading fund managed by Natixis, while HEGD is a Equity Hedged fund actively managed by Swan. Over the past 5 years, GTEYX returned 6.86%/yr vs 8.30%/yr for HEGD. Their 0.80 correlation means they have sometimes moved together and sometimes differently. GTEYX charges 0.70%/yr vs 0.88%/yr for HEGD.
Performance
GTEYX vs. HEGD - Performance Comparison
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Returns By Period
In the year-to-date period, GTEYX achieves a 4.62% return, which is significantly lower than HEGD's 6.74% return.
GTEYX
- 1D
- 0.53%
- 1M
- -0.02%
- 6M
- 3.18%
- YTD
- 4.62%
- 1Y
- 10.73%
- 3Y*
- 10.83%
- 5Y*
- 6.86%
- 10Y*
- 6.92%
- ALL TIME*
- 5.88%
HEGD
- 1D
- 1.13%
- 1M
- 1.05%
- 6M
- 5.24%
- YTD
- 6.74%
- 1Y
- 14.63%
- 3Y*
- 13.49%
- 5Y*
- 8.30%
- 10Y*
- —
- ALL TIME*
- 9.50%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $1.90M | $1.92M | $2.57M |
GTEYX vs. HEGD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GTEYX Gateway Fund Class Y Shares | 4.62% | 10.28% | 15.82% | 14.70% | -11.84% | 11.49% | 0.38% |
HEGD Swan Hedged Equity US Large Cap ETF | 6.74% | 12.95% | 15.24% | 14.16% | -11.25% | 17.30% | 0.75% |
Correlation
The correlation between GTEYX and HEGD is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Dec 23, 2020 | 0.80 |
The correlation between GTEYX and HEGD has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.
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Return for Risk
GTEYX vs. HEGD — Risk / Return Rank
GTEYX
HEGD
GTEYX vs. HEGD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gateway Fund Class Y Shares (GTEYX) and Swan Hedged Equity US Large Cap ETF (HEGD). 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.
| GTEYX | HEGD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.34 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | 3.35 | -1.25 |
| Martin ratioReturn relative to average drawdown | 9.53 | 10.86 | -1.33 |
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Drawdowns
GTEYX vs. HEGD - Drawdown Comparison
The maximum GTEYX drawdown since its inception was -16.58%, which is greater than HEGD's maximum drawdown of -14.56%. Use the drawdown chart below to compare losses from any high point for GTEYX and HEGD.
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Drawdown Indicators
| GTEYX | HEGD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.58% | -14.56% | -2.02% |
Max Drawdown (1Y)Largest decline over 1 year | -5.98% | -4.39% | -1.59% |
Max Drawdown (3Y)Largest decline over 3 years | -11.48% | -8.14% | -3.34% |
Max Drawdown (5Y)Largest decline over 5 years | -16.25% | -14.56% | -1.69% |
Max Drawdown (10Y)Largest decline over 10 years | -16.25% | — | — |
Current DrawdownCurrent decline from peak | -0.84% | -0.72% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -2.05% | -3.61% | +1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.35% | -0.12% |
Volatility
GTEYX vs. HEGD - Volatility Comparison
The current volatility for Gateway Fund Class Y Shares (GTEYX) is 2.31%, while Swan Hedged Equity US Large Cap ETF (HEGD) has a volatility of 2.74%. This indicates that GTEYX experiences smaller price fluctuations and is considered to be less risky than HEGD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GTEYX | HEGD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 2.74% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 5.96% | 6.02% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.83% | 7.81% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.66% | 9.51% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.93% | 9.39% | -0.46% |
GTEYX vs. HEGD - Expense Ratio Comparison
GTEYX has a 0.70% expense ratio, which is lower than HEGD's 0.88% expense ratio.
Dividends
GTEYX vs. HEGD - Dividend Comparison
GTEYX's dividend yield for the trailing twelve months is around 0.30%, less than HEGD's 0.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GTEYX Gateway Fund Class Y Shares | 0.30% | 0.39% | 0.65% | 0.90% | 0.89% | 0.66% | 1.06% | 1.32% | 1.41% | 1.24% | 1.60% | 2.09% |
HEGD Swan Hedged Equity US Large Cap ETF | 0.34% | 0.36% | 0.43% | 0.39% | 0.87% | 0.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GTEYX and HEGD have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HEGD has higher volatility (2.74%) compared to GTEYX (2.31%). In terms of maximum drawdown, GTEYX dropped -16.58% vs HEGD's -14.56%.
HEGD currently has the higher Sharpe Ratio (1.89 vs 1.61), 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.
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