RTXAX vs. MBXAX
RTXAX (Russell Investment Tax-Managed Real Assets Fund) and MBXAX (Catalyst/Millburn Hedge Strategy Fund) are both mutual funds - RTXAX is a Global Equities fund managed by BlackRock, while MBXAX is a Multistrategy fund managed by Catalyst Mutual Funds. Over the past 5 years, RTXAX returned 6.50%/yr vs 7.27%/yr for MBXAX. Their 0.47 correlation means their historical movements had little consistent relationship. RTXAX charges 1.33%/yr vs 2.18%/yr for MBXAX.
Performance
RTXAX vs. MBXAX - Performance Comparison
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Returns By Period
In the year-to-date period, RTXAX achieves a 17.12% return, which is significantly higher than MBXAX's 13.56% return.
RTXAX
- 1D
- -0.32%
- 1M
- 1.63%
- 6M
- 10.40%
- YTD
- 17.12%
- 1Y
- 27.71%
- 3Y*
- 11.13%
- 5Y*
- 6.50%
- 10Y*
- —
- ALL TIME*
- 8.48%
MBXAX
- 1D
- 0.73%
- 1M
- -1.32%
- 6M
- 9.10%
- YTD
- 13.56%
- 1Y
- 18.00%
- 3Y*
- 9.79%
- 5Y*
- 7.27%
- 10Y*
- 7.59%
- ALL TIME*
- 8.93%
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 |
RTXAX vs. MBXAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
RTXAX Russell Investment Tax-Managed Real Assets Fund | 17.12% | 13.56% | 1.50% | 7.40% | -11.66% | 26.57% | 3.73% | 6.17% |
MBXAX Catalyst/Millburn Hedge Strategy Fund | 13.56% | 4.13% | 13.17% | -0.91% | 7.46% | 16.62% | -0.72% | 6.64% |
Correlation
The correlation between RTXAX and MBXAX is 0.34, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.34 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2019 | 0.47 |
The correlation between RTXAX and MBXAX shifts across timeframes, from 0.24 (3 years) to 0.47 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RTXAX vs. MBXAX — Risk / Return Rank
RTXAX
MBXAX
RTXAX vs. MBXAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Russell Investment Tax-Managed Real Assets Fund (RTXAX) and Catalyst/Millburn Hedge Strategy Fund (MBXAX). 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.
| RTXAX | MBXAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.44 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 5.23 | 4.17 | +1.06 |
| Martin ratioReturn relative to average drawdown | 18.69 | 16.27 | +2.42 |
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Drawdowns
RTXAX vs. MBXAX - Drawdown Comparison
The maximum RTXAX drawdown since its inception was -40.68%, which is greater than MBXAX's maximum drawdown of -31.75%. Use the drawdown chart below to compare losses from any high point for RTXAX and MBXAX.
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Drawdown Indicators
| RTXAX | MBXAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.68% | -31.75% | -8.93% |
Max Drawdown (1Y)Largest decline over 1 year | -5.21% | -3.89% | -1.32% |
Max Drawdown (3Y)Largest decline over 3 years | -17.13% | -15.66% | -1.47% |
Max Drawdown (5Y)Largest decline over 5 years | -24.63% | -15.66% | -8.97% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.75% | — |
Current DrawdownCurrent decline from peak | -1.20% | -1.98% | +0.78% |
Average DrawdownAverage peak-to-trough decline | -7.64% | -4.00% | -3.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 1.01% | +0.44% |
Volatility
RTXAX vs. MBXAX - Volatility Comparison
Russell Investment Tax-Managed Real Assets Fund (RTXAX) has a higher volatility of 2.45% compared to Catalyst/Millburn Hedge Strategy Fund (MBXAX) at 1.78%. This indicates that RTXAX's price experiences larger fluctuations and is considered to be riskier than MBXAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RTXAX | MBXAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.45% | 1.78% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 8.27% | 4.91% | +3.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.82% | 6.90% | +3.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.75% | 11.39% | +4.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.89% | 13.36% | +6.53% |
RTXAX vs. MBXAX - Expense Ratio Comparison
RTXAX has a 1.33% expense ratio, which is lower than MBXAX's 2.18% expense ratio.
Dividends
RTXAX vs. MBXAX - Dividend Comparison
RTXAX's dividend yield for the trailing twelve months is around 2.44%, while MBXAX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MBXAX Catalyst/Millburn Hedge Strategy Fund | 0.00% | 0.00% | 2.43% | 2.02% | 7.57% | 0.00% | 3.92% | 4.96% | 3.07% | 3.35% | 1.82% |
RTXAX Russell Investment Tax-Managed Real Assets Fund | 2.44% | 2.86% | 2.05% | 1.98% | 3.11% | 1.74% | 1.71% | 0.84% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
RTXAX and MBXAX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RTXAX has higher volatility (2.45%) compared to MBXAX (1.78%). In terms of maximum drawdown, RTXAX dropped -40.68% vs MBXAX's -31.75%.
RTXAX currently has the higher Sharpe Ratio (2.53 vs 2.36), 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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