LASYX vs. GCPYX

Last updated Jul 4, 2026

LASYX (Loomis Sayles Strategic Alpha Fund) and GCPYX (Gateway Equity Call Premium Fund) are both mutual funds - LASYX is a Nontraditional Bonds fund managed by Natixis, while GCPYX is a Options Trading fund managed by Natixis. Over the past 10 years, LASYX returned 3.77%/yr vs 9.54%/yr for GCPYX. At a 0.39 correlation, their price movements are largely independent. LASYX charges 0.75%/yr vs 0.68%/yr for GCPYX.

Performance

LASYX vs. GCPYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Loomis Sayles Strategic Alpha Fund (LASYX) and Gateway Equity Call Premium Fund (GCPYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LASYX achieves a -0.07% return, which is significantly lower than GCPYX's 6.15% return. Over the past 10 years, LASYX has underperformed GCPYX with an annualized return of 3.77%, while GCPYX has yielded a comparatively higher 9.54% annualized return.

LASYX

• 1D: 0.10%
• 1M: 0.14%
• 6M: -0.07%
• YTD: -0.07%
• 1Y: 2.81%
• 3Y*: 7.30%
• 5Y*: 2.79%
• 10Y*: 3.77%

GCPYX

• 1D: 0.17%
• 1M: 0.69%
• 6M: 6.15%
• YTD: 6.15%
• 1Y: 16.95%
• 3Y*: 13.84%
• 5Y*: 9.41%
• 10Y*: 9.54%

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

LASYX vs. GCPYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LASYX Loomis Sayles Strategic Alpha Fund	-0.07%	7.44%	8.29%	7.89%	-7.97%	1.33%	10.19%	3.96%	0.53%	3.38%
GCPYX Gateway Equity Call Premium Fund	6.15%	12.59%	18.15%	17.59%	-11.48%	19.28%	8.38%	16.67%	-5.37%	12.22%

Correlation

The correlation between LASYX and GCPYX is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Oct 1, 2014	0.39

The correlation between LASYX and GCPYX shifts across timeframes, from 0.34 (3 years) to 0.51 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LASYX vs. GCPYX — Risk / Return Rank

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

LASYX

LASYX Risk / Return Rank: 25
LASYX Sharpe Ratio Rank: 26
LASYX Sortino Ratio Rank: 18
LASYX Omega Ratio Rank: 47
LASYX Calmar Ratio Rank: 18
LASYX Martin Ratio Rank: 16

GCPYX

GCPYX Risk / Return Rank: 85
GCPYX Sharpe Ratio Rank: 84
GCPYX Sortino Ratio Rank: 83
GCPYX Omega Ratio Rank: 84
GCPYX Calmar Ratio Rank: 80
GCPYX Martin Ratio Rank: 93

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.

LASYX vs. GCPYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Loomis Sayles Strategic Alpha Fund (LASYX) and Gateway Equity Call Premium Fund (GCPYX). 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.

	LASYX	GCPYX	Difference
Sharpe ratio: Return per unit of total volatility	1.12	2.24	-1.12
Sortino ratio: Return per unit of downside risk	1.34	3.23	-1.89
Omega ratio: Gain probability vs. loss probability	1.28	1.45	-0.17
Calmar ratio: Return relative to maximum drawdown	1.15	2.97	-1.82
Martin ratio: Return relative to average drawdown	3.17	15.29	-12.12

LASYX vs. GCPYX - Sharpe Ratio Comparison

The current LASYX Sharpe Ratio is 1.12, which is lower than the GCPYX Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of LASYX and GCPYX, 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

LASYX vs. GCPYX - Drawdown Comparison

The maximum LASYX drawdown since its inception was -11.24%, smaller than the maximum GCPYX drawdown of -25.24%. Use the drawdown chart below to compare losses from any high point for LASYX and GCPYX.

Drawdown Indicators

	LASYX	GCPYX	Difference
Max Drawdown Largest peak-to-trough decline	-11.24%	-25.24%	+14.00%
Max Drawdown (1Y) Largest decline over 1 year	-2.90%	-7.02%	+4.12%
Max Drawdown (3Y) Largest decline over 3 years	-2.90%	-15.49%	+12.59%
Max Drawdown (5Y) Largest decline over 5 years	-11.24%	-18.33%	+7.09%
Max Drawdown (10Y) Largest decline over 10 years	-11.24%	-25.24%	+14.00%
Current Drawdown Current decline from peak	-1.27%	0.00%	-1.27%
Average Drawdown Average peak-to-trough decline	-1.85%	-2.80%	+0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	1.26%	-0.29%

Volatility

LASYX vs. GCPYX - Volatility Comparison

The current volatility for Loomis Sayles Strategic Alpha Fund (LASYX) is 0.72%, while Gateway Equity Call Premium Fund (GCPYX) has a volatility of 3.40%. This indicates that LASYX experiences smaller price fluctuations and is considered to be less risky than GCPYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LASYX	GCPYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.72%	3.40%	-2.68%
Volatility (6M) Calculated over the trailing 6-month period	2.33%	7.32%	-4.99%
Volatility (1Y) Calculated over the trailing 1-year period	2.99%	9.30%	-6.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.34%	12.35%	-9.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.30%	12.46%	-9.16%

LASYX vs. GCPYX - Expense Ratio Comparison

LASYX has a 0.75% expense ratio, which is higher than GCPYX's 0.68% expense ratio.

Dividends

LASYX vs. GCPYX - Dividend Comparison

LASYX's dividend yield for the trailing twelve months is around 2.70%, more than GCPYX's 0.39% 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%
LASYX Loomis Sayles Strategic Alpha Fund	2.70%	3.64%	5.61%	5.48%	4.05%	2.21%	2.28%	3.07%	3.69%	2.92%	2.34%	3.96%

Frequently Asked Questions

Can I hold both LASYX and GCPYX in my portfolio?

LASYX and GCPYX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LASYX or GCPYX?

GCPYX has higher volatility (3.40%) compared to LASYX (0.72%). In terms of maximum drawdown, LASYX dropped -11.24% vs GCPYX's -25.24%.

Which has better risk-adjusted returns?

GCPYX currently has the higher Sharpe Ratio (2.24 vs 1.12), 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.