LVAFX vs. MBXIX
LVAFX (LSV Global Managed Volatility Fund) and MBXIX (Catalyst/Millburn Hedge Strategy Fund Class I) are both mutual funds - LVAFX is a Global Equities fund managed by BlackRock, while MBXIX is a Multistrategy fund managed by Catalyst Mutual Funds. Over the past 10 years, LVAFX returned 8.15%/yr vs 7.68%/yr for MBXIX. Their 0.49 correlation means their historical movements had little consistent relationship. LVAFX charges 1.00%/yr vs 2.04%/yr for MBXIX.
Performance
LVAFX vs. MBXIX - Performance Comparison
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Returns By Period
In the year-to-date period, LVAFX achieves a 17.34% return, which is significantly higher than MBXIX's 12.91% return. Over the past 10 years, LVAFX has outperformed MBXIX with an annualized return of 8.15%, while MBXIX has yielded a comparatively lower 7.68% annualized return.
LVAFX
- 1D
- 0.31%
- 1M
- 5.72%
- 6M
- 12.90%
- YTD
- 17.34%
- 1Y
- 29.64%
- 3Y*
- 14.26%
- 5Y*
- 9.25%
- 10Y*
- 8.15%
- ALL TIME*
- 7.57%
MBXIX
- 1D
- -0.28%
- 1M
- -2.01%
- 6M
- 8.54%
- YTD
- 12.91%
- 1Y
- 17.43%
- 3Y*
- 10.12%
- 5Y*
- 7.38%
- 10Y*
- 7.68%
- ALL TIME*
- 8.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
LVAFX vs. MBXIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LVAFX LSV Global Managed Volatility Fund | 17.34% | 22.33% | 0.10% | 9.81% | -4.04% | 17.36% | -5.16% | 17.54% | -6.47% | 18.68% |
MBXIX Catalyst/Millburn Hedge Strategy Fund Class I | 12.91% | 4.35% | 13.49% | -0.67% | 7.72% | 16.89% | -0.45% | 13.83% | -2.16% | 13.99% |
Correlation
The correlation between LVAFX and MBXIX is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.23 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.30 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2015 | 0.49 |
The correlation between LVAFX and MBXIX shifts across timeframes, from 0.23 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LVAFX vs. MBXIX — Risk / Return Rank
LVAFX
MBXIX
LVAFX vs. MBXIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for LSV Global Managed Volatility Fund (LVAFX) 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.
| LVAFX | MBXIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.81 | ||
| Omega ratioGain probability vs. loss probability | 1.64 | 1.40 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 5.01 | 3.88 | +1.13 |
| Martin ratioReturn relative to average drawdown | 17.92 | 14.92 | +3.00 |
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Drawdowns
LVAFX vs. MBXIX - Drawdown Comparison
The maximum LVAFX drawdown since its inception was -33.69%, which is greater than MBXIX's maximum drawdown of -31.73%. Use the drawdown chart below to compare losses from any high point for LVAFX and MBXIX.
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Drawdown Indicators
| LVAFX | MBXIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.69% | -31.73% | -1.96% |
Max Drawdown (1Y)Largest decline over 1 year | -5.76% | -3.85% | -1.91% |
Max Drawdown (3Y)Largest decline over 3 years | -17.52% | -15.59% | -1.93% |
Max Drawdown (5Y)Largest decline over 5 years | -18.34% | -15.59% | -2.75% |
Max Drawdown (10Y)Largest decline over 10 years | -33.69% | -31.73% | -1.96% |
Current DrawdownCurrent decline from peak | 0.00% | -2.68% | +2.68% |
Average DrawdownAverage peak-to-trough decline | -4.71% | -3.95% | -0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.04% | +0.57% |
Volatility
LVAFX vs. MBXIX - Volatility Comparison
LSV Global Managed Volatility Fund (LVAFX) has a higher volatility of 1.99% compared to Catalyst/Millburn Hedge Strategy Fund Class I (MBXIX) at 1.59%. This indicates that LVAFX'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.
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Volatility by Period
| LVAFX | MBXIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 1.59% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 6.55% | 4.89% | +1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.51% | 6.90% | +1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.24% | 11.40% | +1.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.53% | 13.36% | +0.17% |
LVAFX vs. MBXIX - Expense Ratio Comparison
LVAFX has a 1.00% expense ratio, which is lower than MBXIX's 2.04% expense ratio.
Dividends
LVAFX vs. MBXIX - Dividend Comparison
LVAFX's dividend yield for the trailing twelve months is around 8.67%, while MBXIX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LVAFX LSV Global Managed Volatility Fund | 8.67% | 10.17% | 2.71% | 15.64% | 2.90% | 2.90% | 2.14% | 7.62% | 3.59% | 7.10% | 1.66% | 1.74% |
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
LVAFX and MBXIX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LVAFX has higher volatility (1.99%) compared to MBXIX (1.59%). In terms of maximum drawdown, LVAFX dropped -33.69% vs MBXIX's -31.73%.
LVAFX currently has the higher Sharpe Ratio (3.40 vs 2.16), 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.
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