At a glance
GQI charges 0.34% a year, above the 0.16% average of the 8 funds most like it (the 8th cheapest of 9). It has $257.5M in assets, the 9th largest of that group; it paid 8.67% of its price in distributions over the past 12 months, monthly. Over the past year it returned +17.2% with distributions reinvested (S&P 500: +11.5%), the best of those 9 funds. Its ten largest positions make up 38.9% of the fund, out of 116 in all.
The short version
Natixis Gateway Quality Income ETF (GQI) is an actively managed fund. It holds 75 to 150 U.S. large- and mid-cap stocks chosen for high profitability and low debt, plus bank-issued notes that copy the effect of selling index call options. That option income produced a trailing 12-month yield of 8.67% as of October 27, 2026, paid monthly, but it caps some upside. Its 0.34% expense ratio is above the 0.16% average of funds with overlapping holdings.
Price history
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GQI +17.2% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| GQI official prospectus, to Dec 31, 2025 | — | +14.72% | — | — | — | +15.98% |
| S&P 500® Index index, same period | — | +17.88% | — | — | — | +22.32% |
| GQI price data to Oct 27, 2026 | +14.0% | +17.2% | — | — | — | +16.1% |
- Over the year to Oct 27, 2026, GQI returned +17.2%, 1st of 9 among similar funds.
- Its worst full calendar year was 2025 (+15.3%); its best was 2024 (+16.0%).
- The deepest fall in its price history was 16.6% (Feb 19, 2025 to Apr 8, 2025), recovered by Jul 9, 2025.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +14.0% | — |
| 2025 | +15.3% | +14.72% |
| 2024 | +16.0% | +15.88% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $4.0600 | |
| 2025 | $5.1100 | +21.1% |
| 2024 | $4.2200 |
What's inside
As of Jun 30, 2026, the fund held 116 securities; the ten largest made up 38.92% of assets.
| Holding | Weight | |
|---|---|---|
| NVIDIA Corp | 7.61% | |
| Apple Inc | 6.74% | |
| Alphabet Inc | 5.69% | |
| Microsoft Corp | 3.51% | |
| Amazon.com Inc | 3.18% | |
| BNP PARIBAS ISSUANCE BV Structured notes | 2.68% | |
| ROYAL BANK OF CANADA Structured notes | 2.54% | |
| Mastercard Inc | 2.44% | |
| GS FINANCE CORP Structured notes | 2.32% | |
| Meta Platforms Inc | 2.22% | |
| Broadcom Inc | 2.13% | |
| Valero Energy Corp | 2.01% | |
| Micron Technology Inc | 1.97% | |
| Lam Research Corp | 1.83% | |
| Eli Lilly & Co | 1.79% |
By country
United States 91.39%Netherlands 2.68%Canada 2.54%Switzerland 1.72%United Kingdom 0.93%By asset type
Stocks 89.63%Structured notes 10.18%RA 0.24%By sector
Sectors of the companies held, for the 73.2% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $60.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +6.01%, +4.04%, +0.33%.
How it works
GQI is actively managed, so it does not track an index. Its subadviser, Gateway Investment Advisers, uses a multifactor quantitative model to score U.S.-listed stocks on quality. A quantitative model is a rules-based scoring system run by computer. The main factors are profitability and leverage, meaning how much debt a company carries. The model builds a portfolio of roughly 75 to 150 large- and mid-cap stocks, generally worth $2 billion or more each. It tilts as far toward high quality scores as it can while limiting how far the fund strays from the market on single names and sectors. The manager can rebalance as often as it wants. Portfolio turnover was 65%.
Most of the income comes from equity-linked notes (ELNs). These are privately negotiated notes from banks that copy the economics of owning a broad market index and selling call options on it. The buyer of a call option gets any gains above a set price. The seller collects a cash fee, called a premium, up front. Each ELN is built so the fund cannot lose more than it paid for it, but gains above a preset level are given up. The call exposure covers less than the full value of the stock portfolio.
As of June 30, 2026, structured notes made up 10.18% of assets. Issuers included BNP Paribas, Royal Bank of Canada and GS Finance. If an issuer fails to pay, the fund could lose money; this is called counterparty risk.
What it really costs
- GQI charges 0.34% a year, versus an average of 0.16% for the similar funds below (8th of 9, cheapest first).
- Of that, 0.24% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.08% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $35 in the first year and $522 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| GQI | $35 | $127 | $227 | $522 |
Structure and tax notes
- Generates much of its income from selling options (directly or through notes). That income is usually taxed as ordinary income rather than as qualified dividends, and the strategy gives up some upside in strong markets.
In a retirement portfolio
It pairs a quality-focused U.S. stock portfolio with option-based income paid monthly, with a trailing yield of 8.67% as of October 27, 2026.
GQI launched on December 13, 2023, so it has no record from the 2008 crisis, the 2020 COVID crash or the 2022 bear market. Its deepest drop was 16.6%, from February 19 to April 8, 2025. It recovered by July 9, 2025, about three months later. It has had no losing calendar year, but that record covers only 2024 and 2025. Its one-year beta of 0.69 (a measure of how closely it follows the stock market) points to smaller swings, yet selling in a sharp fall would still lock in losses. The monthly payouts may help with income needs. The trade-off is capped upside: it returned 15.98% a year since inception, against 22.32% for the S&P 500, through December 31, 2025. Its 0.34% expense ratio costs more than many index funds. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors seeking monthly income from U.S. stocks; the trailing 12-month yield was 8.67% as of October 27, 2026.
- Investors willing to give up some upside for a smoother ride: one-year volatility was 9.2% and beta 0.69 as of October 27, 2026.
- Investors who prefer a quality tilt toward profitable, low-debt companies such as NVIDIA, Apple and Alphabet over a plain market-weighted index.
Look elsewhere if
- Cost-focused investors: the 0.34% expense ratio is well above VOO's 0.03% and the 0.16% average of funds with overlapping holdings.
- Investors who want full stock-market gains; GQI returned 15.98% a year since inception versus 22.32% for the S&P 500 through December 31, 2025.
- Those who want a long track record or tax-efficient income in taxable accounts; it launched in December 2023, and option income is usually ordinary income.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| GQI this fund | — | 0.34% | $257.5M | +17.2% | — |
| SPY SPDR S&P 500 ETF Trust · different strategy | 50% | 0.0945% | $781.19B | +11.5% | +21.9% |
| VOO Vanguard S&P 500 ETF · different strategy | 50% | 0.03% | $1.67T | +12.4% | +23.6% |
| SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF · different strategy | 50% | 0.2% | $2.74B | +12.6% | +24.8% |
| SPYG SPDR Portfolio S&P 500 Growth ETF · different strategy | 50% | 0.04% | $52.99B | +7.2% | +25.3% |
| IVW iShares S&P 500 Growth ETF · different strategy | 50% | 0.18% | $74.97B | +7.0% | +25.2% |
| IWL iShares Russell Top 200 ETF · different strategy | 50% | 0.15% | $2.19B | +12.5% | +25.5% |
| INFO Harbor PanAgora Dynamic Large Cap Core ETF · different strategy | 49% | 0.35% | $842.7M | +16.0% | — |
Questions investors ask
Does GQI pay monthly dividends?
Yes. GQI pays distributions monthly. Over the 12 months to October 27, 2026, it paid $5.26 per share, a trailing yield of 8.67%. Much of that cash comes from equity-linked notes that copy the effect of selling index call options, not just from stock dividends. Option income is usually taxed as ordinary income rather than at the lower qualified-dividend rate, and payouts can change from month to month.
Is GQI good for retirement income?
It may suit retirees who want monthly income and a quality-stock portfolio, but it has trade-offs. The trailing yield was 8.67% as of October 27, 2026. The option-like notes cap gains in strong markets, so GQI returned 15.98% a year since inception versus 22.32% for the S&P 500 through December 31, 2025. It launched in December 2023, so it has never been through a long bear market.
What's the difference between GQI and VOO?
VOO is a low-cost index fund that tracks the S&P 500 for 0.03% a year. GQI is actively managed, picks quality stocks and adds option-based income notes, for 0.34%. About 50% of their holdings overlap, but they follow different strategies. GQI yields far more and has swung less. Over one year, GQI returned 17.2% as of October 27, 2026, compared with VOO's 12.4% as of October 30, 2026.
How does GQI generate its income?
Mostly through equity-linked notes (ELNs) issued by banks such as BNP Paribas, Royal Bank of Canada and GS Finance. These notes copy owning a broad market index while selling call options on it. The option premiums turn into regular cash for the fund. In return, the fund gives up index gains above a preset level. Structured notes were 10.18% of assets as of June 30, 2026, and the stock portfolio made up the rest.
What are the biggest risks of GQI?
The main risks are capped upside, counterparty risk and concentration in big technology stocks. If a note issuer cannot pay, the fund could lose money. As of June 30, 2026, NVIDIA was 7.6% of assets, Apple 6.7% and Alphabet 5.7%, and technology was the largest sector. GQI's deepest drop was 16.6%, from February to April 2025. Its history starts only in December 2023.