CPEAX vs. MBXIX

Last updated Jun 23, 2026

CPEAX (Catalyst Dynamic Alpha Fund) and MBXIX (Catalyst/Millburn Hedge Strategy Fund Class I) are both mutual funds - CPEAX is a Large Cap Growth Equities fund managed by Catalyst Mutual Funds, while MBXIX is a Hedge Fund fund managed by Catalyst Mutual Funds. Over the past 10 years, CPEAX returned 13.26%/yr vs 8.80%/yr for MBXIX. A 0.53 correlation means they provide meaningful diversification when combined. CPEAX charges 1.38%/yr vs 2.04%/yr for MBXIX.

Performance

CPEAX vs. MBXIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Catalyst Dynamic Alpha Fund (CPEAX) and Catalyst/Millburn Hedge Strategy Fund Class I (MBXIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPEAX achieves a 26.79% return, which is significantly higher than MBXIX's 14.91% return. Over the past 10 years, CPEAX has outperformed MBXIX with an annualized return of 13.26%, while MBXIX has yielded a comparatively lower 8.80% annualized return.

CPEAX

• 1D: 2.21%
• 1M: 6.72%
• YTD: 26.79%
• 6M: 23.91%
• 1Y: 41.17%
• 3Y*: 21.51%
• 5Y*: 14.60%
• 10Y*: 13.26%

MBXIX

• 1D: 0.39%
• 1M: 1.09%
• YTD: 14.91%
• 6M: 14.40%
• 1Y: 19.54%
• 3Y*: 11.49%
• 5Y*: 7.92%
• 10Y*: 8.80%

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

CPEAX vs. MBXIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CPEAX Catalyst Dynamic Alpha Fund	26.79%	9.98%	22.02%	13.44%	-14.87%	19.59%	21.00%	11.14%	-4.35%	26.91%
MBXIX Catalyst/Millburn Hedge Strategy Fund Class I	14.91%	4.35%	13.49%	-0.67%	7.72%	16.89%	-0.45%	13.83%	-2.16%	13.99%

Correlation

The correlation between CPEAX and MBXIX is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.36
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since Dec 28, 2015	0.53

The correlation between CPEAX and MBXIX shifts across timeframes, from 0.36 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CPEAX vs. MBXIX — Risk / Return Rank

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

CPEAX

CPEAX Risk / Return Rank: 53
CPEAX Sharpe Ratio Rank: 43
CPEAX Sortino Ratio Rank: 38
CPEAX Omega Ratio Rank: 41
CPEAX Calmar Ratio Rank: 76
CPEAX Martin Ratio Rank: 65

MBXIX

MBXIX Risk / Return Rank: 92
MBXIX Sharpe Ratio Rank: 92
MBXIX Sortino Ratio Rank: 91
MBXIX Omega Ratio Rank: 86
MBXIX Calmar Ratio Rank: 94
MBXIX Martin Ratio Rank: 95

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.

CPEAX vs. MBXIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Catalyst Dynamic Alpha Fund (CPEAX) and Catalyst/Millburn Hedge Strategy Fund Class I (MBXIX). 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.

	CPEAX	MBXIX	Difference
Sharpe ratio: Return per unit of total volatility	1.78	2.85	-1.07
Sortino ratio: Return per unit of downside risk	2.40	4.18	-1.78
Omega ratio: Gain probability vs. loss probability	1.32	1.55	-0.23
Calmar ratio: Return relative to maximum drawdown	3.26	5.13	-1.88
Martin ratio: Return relative to average drawdown	11.90	19.82	-7.93

CPEAX vs. MBXIX - Sharpe Ratio Comparison

The current CPEAX Sharpe Ratio is 1.78, which is lower than the MBXIX Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of CPEAX and MBXIX, 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

CPEAX vs. MBXIX - Drawdown Comparison

The maximum CPEAX drawdown since its inception was -34.39%, which is greater than MBXIX's maximum drawdown of -31.73%. Use the drawdown chart below to compare losses from any high point for CPEAX and MBXIX.

Drawdown Indicators

	CPEAX	MBXIX	Difference
Max Drawdown Largest peak-to-trough decline	-34.39%	-31.73%	-2.66%
Max Drawdown (1Y) Largest decline over 1 year	-12.61%	-3.85%	-8.76%
Max Drawdown (3Y) Largest decline over 3 years	-26.28%	-15.59%	-10.69%
Max Drawdown (5Y) Largest decline over 5 years	-26.28%	-15.59%	-10.69%
Max Drawdown (10Y) Largest decline over 10 years	-34.39%	-31.73%	-2.66%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.29%	-3.98%	-1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	0.99%	+2.45%

Volatility

CPEAX vs. MBXIX - Volatility Comparison

Catalyst Dynamic Alpha Fund (CPEAX) has a higher volatility of 9.22% compared to Catalyst/Millburn Hedge Strategy Fund Class I (MBXIX) at 1.65%. This indicates that CPEAX's price experiences larger fluctuations and is considered to be riskier than MBXIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPEAX	MBXIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.22%	1.65%	+7.57%
Volatility (6M) Calculated over the trailing 6-month period	19.58%	5.21%	+14.37%
Volatility (1Y) Calculated over the trailing 1-year period	23.12%	6.94%	+16.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.53%	11.49%	+9.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.79%	13.41%	+7.38%

CPEAX vs. MBXIX - Expense Ratio Comparison

CPEAX has a 1.38% expense ratio, which is lower than MBXIX's 2.04% expense ratio.

Dividends

CPEAX vs. MBXIX - Dividend Comparison

CPEAX's dividend yield for the trailing twelve months is around 12.42%, while MBXIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPEAX Catalyst Dynamic Alpha Fund	12.42%	15.75%	9.57%	0.00%	1.21%	30.88%	0.00%	0.12%	19.37%	2.32%	0.00%	1.36%
MBXIX Catalyst/Millburn Hedge Strategy Fund Class I	0.00%	0.00%	2.63%	2.25%	7.74%	0.00%	4.27%	5.18%	3.33%	3.33%	1.91%	0.00%

Frequently Asked Questions

Can I hold both CPEAX and MBXIX in my portfolio?

CPEAX and MBXIX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPEAX or MBXIX?

CPEAX has higher volatility (9.22%) compared to MBXIX (1.65%). In terms of maximum drawdown, CPEAX dropped -34.39% vs MBXIX's -31.73%.

Which has better risk-adjusted returns?

MBXIX currently has the higher Sharpe Ratio (2.85 vs 1.78), 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.