NEFHX vs. GATEX

Last updated Jun 24, 2026

NEFHX (Loomis Sayles High Income Fund) and GATEX (Gateway Fund) are both mutual funds - NEFHX is a High Yield Bonds fund managed by Natixis, while GATEX is a Options Trading fund managed by Natixis. Over the past 10 years, NEFHX returned 4.52%/yr vs 6.88%/yr for GATEX. At a 0.29 correlation, their price movements are largely independent. NEFHX charges 1.01%/yr vs 0.93%/yr for GATEX.

Performance

NEFHX vs. GATEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Loomis Sayles High Income Fund (NEFHX) and Gateway Fund (GATEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NEFHX achieves a 1.37% return, which is significantly lower than GATEX's 4.39% return. Over the past 10 years, NEFHX has underperformed GATEX with an annualized return of 4.52%, while GATEX has yielded a comparatively higher 6.88% annualized return.

NEFHX

• 1D: 0.00%
• 1M: 0.53%
• YTD: 1.37%
• 6M: 1.64%
• 1Y: 5.42%
• 3Y*: 8.40%
• 5Y*: 2.34%
• 10Y*: 4.52%

GATEX

• 1D: 0.00%
• 1M: 0.45%
• YTD: 4.39%
• 6M: 3.82%
• 1Y: 13.35%
• 3Y*: 11.29%
• 5Y*: 6.86%
• 10Y*: 6.88%

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

NEFHX vs. GATEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NEFHX Loomis Sayles High Income Fund	1.37%	7.59%	8.77%	9.53%	-13.67%	2.87%	8.18%	11.95%	-3.47%	7.50%
GATEX Gateway Fund	4.39%	10.07%	15.55%	14.43%	-12.06%	11.24%	6.92%	10.84%	-4.39%	9.66%

Correlation

The correlation between NEFHX and GATEX is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Feb 22, 1984	0.29

Over the past year, NEFHX and GATEX have become more correlated (0.59) than their long-term average of 0.29, meaning their price movements have been converging.

Return for Risk

NEFHX vs. GATEX — Risk / Return Rank

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

NEFHX

NEFHX Risk / Return Rank: 51
NEFHX Sharpe Ratio Rank: 42
NEFHX Sortino Ratio Rank: 48
NEFHX Omega Ratio Rank: 57
NEFHX Calmar Ratio Rank: 51
NEFHX Martin Ratio Rank: 54

GATEX

GATEX Risk / Return Rank: 68
GATEX Sharpe Ratio Rank: 69
GATEX Sortino Ratio Rank: 72
GATEX Omega Ratio Rank: 72
GATEX Calmar Ratio Rank: 57
GATEX Martin Ratio Rank: 71

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.

NEFHX vs. GATEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Loomis Sayles High Income Fund (NEFHX) and Gateway Fund (GATEX). 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.

	NEFHX	GATEX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.22	-0.45
Sortino ratio: Return per unit of downside risk	2.69	3.23	-0.54
Omega ratio: Gain probability vs. loss probability	1.38	1.43	-0.05
Calmar ratio: Return relative to maximum drawdown	2.61	2.76	-0.15
Martin ratio: Return relative to average drawdown	10.24	12.78	-2.54

NEFHX vs. GATEX - Sharpe Ratio Comparison

The current NEFHX Sharpe Ratio is 1.77, which is comparable to the GATEX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of NEFHX and GATEX, 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

NEFHX vs. GATEX - Drawdown Comparison

The maximum NEFHX drawdown since its inception was -43.09%, which is greater than GATEX's maximum drawdown of -29.74%. Use the drawdown chart below to compare losses from any high point for NEFHX and GATEX.

Drawdown Indicators

	NEFHX	GATEX	Difference
Max Drawdown Largest peak-to-trough decline	-43.09%	-29.74%	-13.35%
Max Drawdown (1Y) Largest decline over 1 year	-2.47%	-6.01%	+3.54%
Max Drawdown (3Y) Largest decline over 3 years	-4.63%	-11.52%	+6.89%
Max Drawdown (5Y) Largest decline over 5 years	-18.10%	-16.39%	-1.71%
Max Drawdown (10Y) Largest decline over 10 years	-21.84%	-16.39%	-5.45%
Current Drawdown Current decline from peak	-0.27%	-0.45%	+0.18%
Average Drawdown Average peak-to-trough decline	-7.94%	-3.90%	-4.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	1.20%	-0.62%

Volatility

NEFHX vs. GATEX - Volatility Comparison

The current volatility for Loomis Sayles High Income Fund (NEFHX) is 0.91%, while Gateway Fund (GATEX) has a volatility of 2.51%. This indicates that NEFHX experiences smaller price fluctuations and is considered to be less risky than GATEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NEFHX	GATEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.91%	2.51%	-1.60%
Volatility (6M) Calculated over the trailing 6-month period	2.70%	5.96%	-3.26%
Volatility (1Y) Calculated over the trailing 1-year period	3.65%	7.47%	-3.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.83%	9.61%	-3.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.13%	8.92%	-2.79%

NEFHX vs. GATEX - Expense Ratio Comparison

NEFHX has a 1.01% expense ratio, which is higher than GATEX's 0.93% expense ratio.

Dividends

NEFHX vs. GATEX - Dividend Comparison

NEFHX's dividend yield for the trailing twelve months is around 4.47%, more than GATEX's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GATEX Gateway Fund	0.18%	0.22%	0.42%	0.67%	0.63%	0.43%	0.83%	1.09%	1.15%	1.01%	1.36%	1.84%
NEFHX Loomis Sayles High Income Fund	4.47%	4.79%	6.92%	7.56%	5.97%	4.27%	5.14%	4.93%	4.91%	4.42%	3.32%	5.93%

Frequently Asked Questions

Can I hold both NEFHX and GATEX in my portfolio?

NEFHX and GATEX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NEFHX or GATEX?

GATEX has higher volatility (2.51%) compared to NEFHX (0.91%). In terms of maximum drawdown, NEFHX dropped -43.09% vs GATEX's -29.74%.

Which has better risk-adjusted returns?

GATEX currently has the higher Sharpe Ratio (2.22 vs 1.77), 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.