MBXIX vs. VAW
Compare and contrast key facts about Catalyst/Millburn Hedge Strategy Fund Class I (MBXIX) and Vanguard Materials ETF (VAW).
MBXIX is managed by Catalyst Mutual Funds. It was launched on Dec 31, 1996. VAW is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Materials 25/50 Index. It was launched on Jan 26, 2004.
Performance
MBXIX vs. VAW - Performance Comparison
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MBXIX vs. VAW - 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% | 13.99% |
VAW Vanguard Materials ETF | 8.97% | 12.30% | 0.48% | 13.67% | -11.80% | 27.43% | 19.44% | 23.53% | -17.49% | 23.76% |
Returns By Period
In the year-to-date period, MBXIX achieves a 8.00% return, which is significantly lower than VAW's 8.97% return. Over the past 10 years, MBXIX has underperformed VAW with an annualized return of 8.26%, while VAW has yielded a comparatively higher 10.55% annualized 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%
VAW
- 1D
- 2.34%
- 1M
- -7.36%
- YTD
- 8.97%
- 6M
- 10.84%
- 1Y
- 21.22%
- 3Y*
- 10.04%
- 5Y*
- 7.09%
- 10Y*
- 10.55%
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MBXIX vs. VAW - Expense Ratio Comparison
MBXIX has a 2.04% expense ratio, which is higher than VAW's 0.10% expense ratio.
Return for Risk
MBXIX vs. VAW — Risk / Return Rank
MBXIX
VAW
MBXIX vs. VAW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Catalyst/Millburn Hedge Strategy Fund Class I (MBXIX) and Vanguard Materials ETF (VAW). 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 | VAW | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.33 | 1.00 | +0.33 |
Sortino ratioReturn per unit of downside risk | 1.78 | 1.51 | +0.26 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.20 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.25 | 1.56 | -0.30 |
Martin ratioReturn relative to average drawdown | 5.92 | 5.38 | +0.55 |
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 | VAW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 1.00 | +0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.36 | +0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.50 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.39 | +0.27 |
Correlation
The correlation between MBXIX and VAW is 0.52, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MBXIX vs. VAW - Dividend Comparison
MBXIX has not paid dividends to shareholders, while VAW's dividend yield for the trailing twelve months is around 1.41%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VAW Vanguard Materials ETF | 1.41% | 1.55% | 1.70% | 1.72% | 1.98% | 1.44% | 1.67% | 1.94% | 2.03% | 1.63% | 1.67% | 2.30% |
Drawdowns
MBXIX vs. VAW - Drawdown Comparison
The maximum MBXIX drawdown since its inception was -31.73%, smaller than the maximum VAW drawdown of -62.17%. Use the drawdown chart below to compare losses from any high point for MBXIX and VAW.
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Drawdown Indicators
| MBXIX | VAW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.73% | -62.17% | +30.44% |
Max Drawdown (1Y)Largest decline over 1 year | -11.28% | -14.33% | +3.05% |
Max Drawdown (5Y)Largest decline over 5 years | -15.59% | -25.50% | +9.91% |
Max Drawdown (10Y)Largest decline over 10 years | -31.73% | -41.13% | +9.40% |
Current DrawdownCurrent decline from peak | -1.64% | -7.36% | +5.72% |
Average DrawdownAverage peak-to-trough decline | -4.06% | -9.67% | +5.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 4.15% | -1.76% |
Volatility
MBXIX vs. VAW - Volatility Comparison
The current volatility for Catalyst/Millburn Hedge Strategy Fund Class I (MBXIX) is 2.37%, while Vanguard Materials ETF (VAW) has a volatility of 7.07%. This indicates that MBXIX experiences smaller price fluctuations and is considered to be less risky than VAW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MBXIX | VAW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.37% | 7.07% | -4.70% |
Volatility (6M)Calculated over the trailing 6-month period | 5.27% | 13.34% | -8.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.80% | 21.39% | -9.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.76% | 19.56% | -7.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.45% | 21.14% | -7.69% |