MBXIX vs. FSMSX
Compare and contrast key facts about Catalyst/Millburn Hedge Strategy Fund Class I (MBXIX) and FS Multi-Strategy Alternatives Fund (FSMSX).
MBXIX is managed by Catalyst Mutual Funds. It was launched on Dec 31, 1996. FSMSX is managed by FS Investments. It was launched on May 15, 2017.
Performance
MBXIX vs. FSMSX - Performance Comparison
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MBXIX vs. FSMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MBXIX Catalyst/Millburn Hedge Strategy Fund Class I | 8.00% | 4.35% | 13.49% | -0.67% | 7.72% | 16.89% | -0.45% | 13.83% | -2.16% | 7.38% |
FSMSX FS Multi-Strategy Alternatives Fund | 0.90% | 4.13% | 4.63% | 5.44% | 3.17% | 13.97% | -3.66% | 7.77% | -3.82% | 2.00% |
Returns By Period
In the year-to-date period, MBXIX achieves a 8.00% return, which is significantly higher than FSMSX's 0.90% return.
MBXIX
- 1D
- -0.52%
- 1M
- 1.48%
- YTD
- 8.00%
- 6M
- 9.98%
- 1Y
- 14.74%
- 3Y*
- 9.95%
- 5Y*
- 8.29%
- 10Y*
- 8.26%
FSMSX
- 1D
- 0.18%
- 1M
- -0.53%
- YTD
- 0.90%
- 6M
- 2.31%
- 1Y
- 4.69%
- 3Y*
- 4.46%
- 5Y*
- 4.95%
- 10Y*
- —
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MBXIX vs. FSMSX - Expense Ratio Comparison
MBXIX has a 2.04% expense ratio, which is higher than FSMSX's 1.89% expense ratio.
Return for Risk
MBXIX vs. FSMSX — Risk / Return Rank
MBXIX
FSMSX
MBXIX vs. FSMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Catalyst/Millburn Hedge Strategy Fund Class I (MBXIX) and FS Multi-Strategy Alternatives Fund (FSMSX). 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 | FSMSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.33 | 1.51 | -0.18 |
Sortino ratioReturn per unit of downside risk | 1.78 | 2.09 | -0.31 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.31 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.25 | 2.10 | -0.85 |
Martin ratioReturn relative to average drawdown | 5.92 | 6.99 | -1.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MBXIX | FSMSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 1.51 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 1.08 | -0.37 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.81 | -0.15 |
Correlation
The correlation between MBXIX and FSMSX is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
MBXIX vs. FSMSX - Dividend Comparison
MBXIX has not paid dividends to shareholders, while FSMSX's dividend yield for the trailing twelve months is around 4.08%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FSMSX FS Multi-Strategy Alternatives Fund | 4.08% | 4.12% | 2.48% | 3.61% | 4.12% | 3.22% | 0.77% | 2.20% | 0.82% | 0.00% | 0.00% |
Drawdowns
MBXIX vs. FSMSX - Drawdown Comparison
The maximum MBXIX drawdown since its inception was -31.73%, which is greater than FSMSX's maximum drawdown of -8.94%. Use the drawdown chart below to compare losses from any high point for MBXIX and FSMSX.
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Drawdown Indicators
| MBXIX | FSMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.73% | -8.94% | -22.79% |
Max Drawdown (1Y)Largest decline over 1 year | -11.28% | -2.32% | -8.96% |
Max Drawdown (5Y)Largest decline over 5 years | -15.59% | -4.13% | -11.46% |
Max Drawdown (10Y)Largest decline over 10 years | -31.73% | — | — |
Current DrawdownCurrent decline from peak | -1.64% | -0.62% | -1.02% |
Average DrawdownAverage peak-to-trough decline | -4.06% | -1.66% | -2.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 0.70% | +1.69% |
Volatility
MBXIX vs. FSMSX - Volatility Comparison
Catalyst/Millburn Hedge Strategy Fund Class I (MBXIX) has a higher volatility of 2.37% compared to FS Multi-Strategy Alternatives Fund (FSMSX) at 1.28%. This indicates that MBXIX's price experiences larger fluctuations and is considered to be riskier than FSMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MBXIX | FSMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 1.28% | +1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 5.27% | 2.00% | +3.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.80% | 3.24% | +8.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.76% | 4.63% | +7.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.45% | 4.67% | +8.78% |