MBXIX vs. CPEAX

Last updated Jun 4, 2026

MBXIX (Catalyst/Millburn Hedge Strategy Fund Class I) and CPEAX (Catalyst Dynamic Alpha Fund) are both mutual funds - MBXIX is a Hedge Fund fund managed by Catalyst Mutual Funds, while CPEAX is a Large Cap Growth Equities fund managed by Catalyst Mutual Funds. Over the past 10 years, MBXIX returned 8.56%/yr vs 13.17%/yr for CPEAX. A 0.53 correlation means they provide meaningful diversification when combined. MBXIX charges 2.04%/yr vs 1.38%/yr for CPEAX.

Performance

MBXIX vs. CPEAX - Performance Comparison

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

Returns By Period

In the year-to-date period, MBXIX achieves a 13.11% return, which is significantly lower than CPEAX's 25.92% return. Over the past 10 years, MBXIX has underperformed CPEAX with an annualized return of 8.56%, while CPEAX has yielded a comparatively higher 13.17% annualized return.

MBXIX

• 1D: -0.33%
• 1M: -0.91%
• YTD: 13.11%
• 6M: 14.07%
• 1Y: 19.89%
• 3Y*: 11.65%
• 5Y*: 7.53%
• 10Y*: 8.56%

CPEAX

• 1D: 2.45%
• 1M: 12.89%
• YTD: 25.92%
• 6M: 23.66%
• 1Y: 40.39%
• 3Y*: 22.32%
• 5Y*: 13.26%
• 10Y*: 13.17%

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

MBXIX vs. CPEAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MBXIX Catalyst/Millburn Hedge Strategy Fund Class I	13.11%	4.35%	13.49%	-0.67%	7.72%	16.89%	-0.45%	13.83%	-2.16%	13.99%
CPEAX Catalyst Dynamic Alpha Fund	25.92%	9.98%	22.02%	13.44%	-14.87%	19.59%	21.00%	11.14%	-4.35%	26.91%

Correlation

The correlation between MBXIX and CPEAX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.36
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 29, 2015	0.53

The correlation between MBXIX and CPEAX shifts across timeframes, from 0.35 (1 year) to 0.53 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MBXIX vs. CPEAX — Risk / Return Rank

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

MBXIX

MBXIX Risk / Return Rank: 91
MBXIX Sharpe Ratio Rank: 90
MBXIX Sortino Ratio Rank: 91
MBXIX Omega Ratio Rank: 86
MBXIX Calmar Ratio Rank: 94
MBXIX Martin Ratio Rank: 94

CPEAX

CPEAX Risk / Return Rank: 50
CPEAX Sharpe Ratio Rank: 42
CPEAX Sortino Ratio Rank: 38
CPEAX Omega Ratio Rank: 39
CPEAX Calmar Ratio Rank: 71
CPEAX Martin Ratio Rank: 61

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.

MBXIX vs. CPEAX - Risk-Adjusted Trends Comparison

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

	MBXIX	CPEAX	Difference
Sharpe ratio: Return per unit of total volatility	2.99	1.88	+1.11
Sortino ratio: Return per unit of downside risk	4.42	2.56	+1.86
Omega ratio: Gain probability vs. loss probability	1.58	1.34	+0.25
Calmar ratio: Return relative to maximum drawdown	5.47	3.25	+2.22
Martin ratio: Return relative to average drawdown	21.15	12.09	+9.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MBXIX vs. CPEAX - Sharpe Ratio Comparison

The current MBXIX Sharpe Ratio is 2.99, which is higher than the CPEAX Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of MBXIX and CPEAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MBXIX	CPEAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.99	1.88	+1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.66	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.64	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.75	-0.06

Drawdowns

MBXIX vs. CPEAX - Drawdown Comparison

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

Drawdown Indicators

	MBXIX	CPEAX	Difference
Max Drawdown Largest peak-to-trough decline	-31.73%	-34.39%	+2.66%
Max Drawdown (1Y) Largest decline over 1 year	-3.85%	-12.61%	+8.76%
Max Drawdown (3Y) Largest decline over 3 years	-15.59%	-26.28%	+10.69%
Max Drawdown (5Y) Largest decline over 5 years	-15.59%	-26.28%	+10.69%
Max Drawdown (10Y) Largest decline over 10 years	-31.73%	-34.39%	+2.66%
Current Drawdown Current decline from peak	-0.99%	0.00%	-0.99%
Average Drawdown Average peak-to-trough decline	-4.00%	-5.30%	+1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.99%	3.39%	-2.40%

Volatility

MBXIX vs. CPEAX - Volatility Comparison

The current volatility for Catalyst/Millburn Hedge Strategy Fund Class I (MBXIX) is 1.91%, while Catalyst Dynamic Alpha Fund (CPEAX) has a volatility of 9.34%. This indicates that MBXIX experiences smaller price fluctuations and is considered to be less risky than CPEAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBXIX	CPEAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.91%	9.34%	-7.43%
Volatility (6M) Calculated over the trailing 6-month period	5.22%	18.16%	-12.94%
Volatility (1Y) Calculated over the trailing 1-year period	7.05%	21.79%	-14.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.55%	20.26%	-8.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.42%	20.65%	-7.23%

MBXIX vs. CPEAX - Expense Ratio Comparison

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

Dividends

MBXIX vs. CPEAX - Dividend Comparison

MBXIX has not paid dividends to shareholders, while CPEAX's dividend yield for the trailing twelve months is around 12.50%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPEAX Catalyst Dynamic Alpha Fund	12.50%	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 MBXIX and CPEAX in my portfolio?

MBXIX and CPEAX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MBXIX or CPEAX?

CPEAX has higher volatility (9.34%) compared to MBXIX (1.91%). In terms of maximum drawdown, MBXIX dropped -31.73% vs CPEAX's -34.39%.

Which has better risk-adjusted returns?

MBXIX currently has the higher Sharpe Ratio (2.99 vs 1.88), 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.