The present invention broadly comprises a torque converter including a cover and a planetary gear set rotationally interfaced with a hydraulic circuit and arranged to modify torque received by the cover from an engine. In some aspects, the gear set includes first and second components rotationally secured to the cover and an impeller shell, respectively. In some aspects, the first and second components are a carrier and ring gear, respectively. In some aspects, the gear set further comprises third and fourth component rotationally connected to a turbine shell and the output hub, respectively. The third component is arranged to receive torque from a clutch or a hub connected to the clutch. In some aspects, the third and fourth components are a carrier and ring gear, respectively. The gear set includes a component rotationally fixed with respect to a torque converter axis, and in some aspects, a ratchet one-way stator clutch.