GTEYX vs. SPYI

Last updated Apr 2, 2026

Compare and contrast key facts about Gateway Fund Class Y Shares (GTEYX) and NEOS S&P 500 High Income ETF (SPYI).

GTEYX is managed by Natixis. SPYI is an actively managed fund by Neos. It was launched on Aug 29, 2022.

Performance

GTEYX vs. SPYI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gateway Fund Class Y Shares (GTEYX) and NEOS S&P 500 High Income ETF (SPYI). The values are adjusted to include any dividend payments, if applicable.

GTEYX vs. SPYI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
GTEYX Gateway Fund Class Y Shares	-3.04%	10.28%	15.82%	14.70%	-1.58%
SPYI NEOS S&P 500 High Income ETF	-2.59%	16.67%	19.03%	18.09%	-2.44%

Returns By Period

In the year-to-date period, GTEYX achieves a -3.04% return, which is significantly lower than SPYI's -2.59% return.

GTEYX

• 1D: 1.71%
• 1M: -3.62%
• YTD: -3.04%
• 6M: -0.59%
• 1Y: 9.81%
• 3Y*: 10.54%
• 5Y*: 6.10%
• 10Y*: 6.38%

SPYI

• 1D: 0.56%
• 1M: -3.70%
• YTD: -2.59%
• 6M: 0.63%
• 1Y: 16.76%
• 3Y*: 14.46%
• 5Y*: —
• 10Y*: —

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

GTEYX vs. SPYI - Expense Ratio Comparison

GTEYX has a 0.70% expense ratio, which is higher than SPYI's 0.68% expense ratio.

GTEYX

Gateway Fund Class Y Shares

SPYI

NEOS S&P 500 High Income ETF

Return for Risk

GTEYX vs. SPYI — Risk / Return Rank

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

GTEYX

GTEYX Risk / Return Rank: 38
GTEYX Sharpe Ratio Rank: 46
GTEYX Sortino Ratio Rank: 58
GTEYX Omega Ratio Rank: 59
GTEYX Calmar Ratio Rank: 12
GTEYX Martin Ratio Rank: 13

SPYI

SPYI Risk / Return Rank: 63
SPYI Sharpe Ratio Rank: 56
SPYI Sortino Ratio Rank: 59
SPYI Omega Ratio Rank: 69
SPYI Calmar Ratio Rank: 58
SPYI Martin Ratio Rank: 74

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. SPYI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gateway Fund Class Y Shares (GTEYX) and NEOS S&P 500 High Income ETF (SPYI). 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	SPYI	Difference
Sharpe ratio Return per unit of total volatility	0.98	1.04	-0.05
Sortino ratio Return per unit of downside risk	1.61	1.57	+0.05
Omega ratio Gain probability vs. loss probability	1.24	1.26	-0.02
Calmar ratio Return relative to maximum drawdown	0.41	1.54	-1.14
Martin ratio Return relative to average drawdown	1.55	8.06	-6.51
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. SPYI - Sharpe Ratio Comparison

The current GTEYX Sharpe Ratio is 0.98, which is comparable to the SPYI Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of GTEYX and SPYI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GTEYX	SPYI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	1.04	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	1.01	-0.35

Correlation

The correlation between GTEYX and SPYI is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

GTEYX vs. SPYI - Dividend Comparison

GTEYX's dividend yield for the trailing twelve months is around 0.38%, less than SPYI's 12.43% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GTEYX Gateway Fund Class Y Shares	0.38%	0.39%	0.65%	0.90%	0.89%	0.66%	1.06%	1.32%	1.41%	1.24%	1.60%	2.09%
SPYI NEOS S&P 500 High Income ETF	12.43%	11.70%	12.04%	12.01%	4.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

GTEYX vs. SPYI - Drawdown Comparison

The maximum GTEYX drawdown since its inception was -16.58%, roughly equal to the maximum SPYI drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for GTEYX and SPYI.

Drawdown Indicators

	GTEYX	SPYI	Difference
Max Drawdown Largest peak-to-trough decline	-16.58%	-16.47%	-0.11%
Max Drawdown (1Y) Largest decline over 1 year	-7.04%	-11.02%	+3.98%
Max Drawdown (5Y) Largest decline over 5 years	-16.25%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-16.25%	—	—
Current Drawdown Current decline from peak	-4.37%	-4.50%	+0.13%
Average Drawdown Average peak-to-trough decline	-2.08%	-1.86%	-0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.11%	+0.89%

Volatility

GTEYX vs. SPYI - Volatility Comparison

The current volatility for Gateway Fund Class Y Shares (GTEYX) is 2.99%, while NEOS S&P 500 High Income ETF (SPYI) has a volatility of 5.10%. This indicates that GTEYX experiences smaller price fluctuations and is considered to be less risky than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GTEYX	SPYI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	5.10%	-2.11%
Volatility (6M) Calculated over the trailing 6-month period	5.86%	8.29%	-2.43%
Volatility (1Y) Calculated over the trailing 1-year period	12.50%	16.22%	-3.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.56%	13.12%	-3.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.87%	13.12%	-4.25%