GTEYX vs. SDAIX

Last updated Jun 4, 2026

GTEYX (Gateway Fund Class Y Shares) and SDAIX (Swan Defined Risk Growth Fund) are both Options Trading funds. Over the past 5 years, GTEYX returned 7.36%/yr vs 8.31%/yr for SDAIX. Their correlation of 0.88 suggests significant overlap in exposure. GTEYX charges 0.70%/yr vs 1.40%/yr for SDAIX.

Performance

GTEYX vs. SDAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gateway Fund Class Y Shares (GTEYX) and Swan Defined Risk Growth Fund (SDAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GTEYX achieves a 4.89% return, which is significantly lower than SDAIX's 6.92% return.

GTEYX

• 1D: 0.13%
• 1M: 2.41%
• YTD: 4.89%
• 6M: 5.13%
• 1Y: 14.75%
• 3Y*: 11.98%
• 5Y*: 7.36%
• 10Y*: 7.05%

SDAIX

• 1D: 0.18%
• 1M: 4.55%
• YTD: 6.92%
• 6M: 6.58%
• 1Y: 20.23%
• 3Y*: 14.17%
• 5Y*: 8.31%
• 10Y*: —

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

GTEYX vs. SDAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
GTEYX Gateway Fund Class Y Shares	4.89%	10.28%	15.82%	14.70%	-11.84%	11.49%	7.19%	10.98%
SDAIX Swan Defined Risk Growth Fund	6.92%	14.14%	13.81%	16.25%	-17.87%	22.93%	11.87%	23.13%

Correlation

The correlation between GTEYX and SDAIX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 3, 2019	0.88

The correlation between GTEYX and SDAIX shifts across timeframes, from 0.74 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GTEYX vs. SDAIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GTEYX

GTEYX Risk / Return Rank: 76
GTEYX Sharpe Ratio Rank: 79
GTEYX Sortino Ratio Rank: 80
GTEYX Omega Ratio Rank: 79
GTEYX Calmar Ratio Rank: 64
GTEYX Martin Ratio Rank: 78

SDAIX

SDAIX Risk / Return Rank: 51
SDAIX Sharpe Ratio Rank: 54
SDAIX Sortino Ratio Rank: 49
SDAIX Omega Ratio Rank: 54
SDAIX Calmar Ratio Rank: 42
SDAIX Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GTEYX vs. SDAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gateway Fund Class Y Shares (GTEYX) and Swan Defined Risk Growth Fund (SDAIX). 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.

	GTEYX	SDAIX	Difference
Sharpe ratio: Return per unit of total volatility	2.59	2.16	+0.42
Sortino ratio: Return per unit of downside risk	3.79	2.96	+0.83
Omega ratio: Gain probability vs. loss probability	1.52	1.41	+0.11
Calmar ratio: Return relative to maximum drawdown	3.07	2.47	+0.61
Martin ratio: Return relative to average drawdown	14.61	11.49	+3.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GTEYX vs. SDAIX - Sharpe Ratio Comparison

The current GTEYX Sharpe Ratio is 2.59, which is comparable to the SDAIX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of GTEYX and SDAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GTEYX	SDAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	2.16	+0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.67	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.86	-0.15

Drawdowns

GTEYX vs. SDAIX - Drawdown Comparison

The maximum GTEYX drawdown since its inception was -16.58%, smaller than the maximum SDAIX drawdown of -24.26%. Use the drawdown chart below to compare losses from any high point for GTEYX and SDAIX.

Drawdown Indicators

	GTEYX	SDAIX	Difference
Max Drawdown Largest peak-to-trough decline	-16.58%	-24.26%	+7.68%
Max Drawdown (1Y) Largest decline over 1 year	-5.98%	-8.37%	+2.39%
Max Drawdown (3Y) Largest decline over 3 years	-11.48%	-14.25%	+2.77%
Max Drawdown (5Y) Largest decline over 5 years	-16.25%	-22.89%	+6.64%
Max Drawdown (10Y) Largest decline over 10 years	-16.25%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.06%	-4.99%	+2.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	1.80%	-0.29%

Volatility

GTEYX vs. SDAIX - Volatility Comparison

The current volatility for Gateway Fund Class Y Shares (GTEYX) is 1.04%, while Swan Defined Risk Growth Fund (SDAIX) has a volatility of 2.26%. This indicates that GTEYX experiences smaller price fluctuations and is considered to be less risky than SDAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GTEYX	SDAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.04%	2.26%	-1.22%
Volatility (6M) Calculated over the trailing 6-month period	5.90%	7.57%	-1.67%
Volatility (1Y) Calculated over the trailing 1-year period	7.10%	9.56%	-2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.56%	12.46%	-2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.89%	13.40%	-4.51%

GTEYX vs. SDAIX - Expense Ratio Comparison

GTEYX has a 0.70% expense ratio, which is lower than SDAIX's 1.40% expense ratio.

Dividends

GTEYX vs. SDAIX - Dividend Comparison

GTEYX's dividend yield for the trailing twelve months is around 0.35%, while SDAIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GTEYX Gateway Fund Class Y Shares	0.35%	0.39%	0.65%	0.90%	0.89%	0.66%	1.06%	1.32%	1.41%	1.24%	1.60%	2.09%
SDAIX Swan Defined Risk Growth Fund	0.00%	0.00%	0.00%	28.80%	0.00%	0.00%	0.62%	1.62%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GTEYX and SDAIX in my portfolio?

GTEYX and SDAIX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GTEYX or SDAIX?

SDAIX has higher volatility (2.26%) compared to GTEYX (1.04%). In terms of maximum drawdown, GTEYX dropped -16.58% vs SDAIX's -24.26%.

Which has better risk-adjusted returns?

GTEYX currently has the higher Sharpe Ratio (2.59 vs 2.16), 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.