TRXAX vs. FAS

Last updated Jun 23, 2026

TRXAX (Catalyst/MAP Global Balanced Fund) and FAS (Direxion Daily Financial Bull 3X Shares) are both funds - TRXAX is a Global Allocation fund managed by Catalyst Mutual Funds, while FAS is a Leveraged Equities fund tracking the Russell 1000 Financial Services Index (300%). Over the past 10 years, TRXAX returned 5.76%/yr vs 22.42%/yr for FAS. A 0.69 correlation means they provide meaningful diversification when combined. TRXAX charges 1.22%/yr vs 1.00%/yr for FAS.

Performance

TRXAX vs. FAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Catalyst/MAP Global Balanced Fund (TRXAX) and Direxion Daily Financial Bull 3X Shares (FAS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRXAX achieves a 6.41% return, which is significantly higher than FAS's -11.10% return. Over the past 10 years, TRXAX has underperformed FAS with an annualized return of 5.76%, while FAS has yielded a comparatively higher 22.42% annualized return.

TRXAX

• 1D: 0.15%
• 1M: 0.60%
• YTD: 6.41%
• 6M: 6.36%
• 1Y: 14.23%
• 3Y*: 9.63%
• 5Y*: 5.54%
• 10Y*: 5.76%

FAS

• 1D: 1.72%
• 1M: 10.36%
• YTD: -11.10%
• 6M: -14.01%
• 1Y: 8.67%
• 3Y*: 41.61%
• 5Y*: 10.39%
• 10Y*: 22.42%

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

TRXAX vs. FAS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRXAX Catalyst/MAP Global Balanced Fund	6.41%	16.16%	4.67%	5.23%	-7.44%	9.65%	3.62%	11.51%	-3.30%	11.12%
FAS Direxion Daily Financial Bull 3X Shares	-11.10%	21.48%	84.47%	14.92%	-43.19%	116.59%	-34.97%	113.04%	-33.84%	67.37%

Correlation

The correlation between TRXAX and FAS is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jul 29, 2011	0.69

Over the past year, the correlation between TRXAX and FAS has dropped to 0.44 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

Return for Risk

TRXAX vs. FAS — Risk / Return Rank

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

TRXAX

TRXAX Risk / Return Rank: 58
TRXAX Sharpe Ratio Rank: 67
TRXAX Sortino Ratio Rank: 68
TRXAX Omega Ratio Rank: 67
TRXAX Calmar Ratio Rank: 47
TRXAX Martin Ratio Rank: 41

FAS

FAS Risk / Return Rank: 11
FAS Sharpe Ratio Rank: 11
FAS Sortino Ratio Rank: 12
FAS Omega Ratio Rank: 12
FAS Calmar Ratio Rank: 11
FAS Martin Ratio Rank: 11

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.

TRXAX vs. FAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Catalyst/MAP Global Balanced Fund (TRXAX) and Direxion Daily Financial Bull 3X Shares (FAS). 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.

	TRXAX	FAS	Difference
Sharpe ratio: Return per unit of total volatility	2.20	0.20	+2.00
Sortino ratio: Return per unit of downside risk	3.12	0.57	+2.56
Omega ratio: Gain probability vs. loss probability	1.41	1.07	+0.34
Calmar ratio: Return relative to maximum drawdown	2.50	0.21	+2.29
Martin ratio: Return relative to average drawdown	8.33	0.48	+7.85

TRXAX vs. FAS - Sharpe Ratio Comparison

The current TRXAX Sharpe Ratio is 2.20, which is higher than the FAS Sharpe Ratio of 0.20. The chart below compares the historical Sharpe Ratios of TRXAX and FAS, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TRXAX vs. FAS - Drawdown Comparison

The maximum TRXAX drawdown since its inception was -20.50%, smaller than the maximum FAS drawdown of -91.61%. Use the drawdown chart below to compare losses from any high point for TRXAX and FAS.

Drawdown Indicators

	TRXAX	FAS	Difference
Max Drawdown Largest peak-to-trough decline	-20.50%	-91.61%	+71.11%
Max Drawdown (1Y) Largest decline over 1 year	-5.60%	-40.88%	+35.28%
Max Drawdown (3Y) Largest decline over 3 years	-6.04%	-43.10%	+37.06%
Max Drawdown (5Y) Largest decline over 5 years	-16.03%	-66.88%	+50.85%
Max Drawdown (10Y) Largest decline over 10 years	-20.50%	-85.99%	+65.49%
Current Drawdown Current decline from peak	-1.33%	-18.43%	+17.10%
Average Drawdown Average peak-to-trough decline	-2.66%	-31.10%	+28.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	18.14%	-16.46%

Volatility

TRXAX vs. FAS - Volatility Comparison

The current volatility for Catalyst/MAP Global Balanced Fund (TRXAX) is 2.13%, while Direxion Daily Financial Bull 3X Shares (FAS) has a volatility of 12.26%. This indicates that TRXAX experiences smaller price fluctuations and is considered to be less risky than FAS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRXAX	FAS	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.13%	12.26%	-10.13%
Volatility (6M) Calculated over the trailing 6-month period	5.12%	33.44%	-28.32%
Volatility (1Y) Calculated over the trailing 1-year period	6.37%	43.45%	-37.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.86%	55.35%	-47.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.27%	61.36%	-53.09%

TRXAX vs. FAS - Expense Ratio Comparison

TRXAX has a 1.22% expense ratio, which is higher than FAS's 1.00% expense ratio.

Dividends

TRXAX vs. FAS - Dividend Comparison

TRXAX's dividend yield for the trailing twelve months is around 2.19%, less than FAS's 9.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAS Direxion Daily Financial Bull 3X Shares	9.38%	8.21%	0.76%	1.77%	0.91%	0.60%	0.47%	0.62%	1.43%	0.11%	0.00%	0.00%
TRXAX Catalyst/MAP Global Balanced Fund	2.19%	2.45%	4.93%	5.12%	0.83%	6.76%	1.91%	2.66%	8.34%	3.46%	3.55%	1.59%

Frequently Asked Questions

Can I hold both TRXAX and FAS in my portfolio?

TRXAX and FAS have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRXAX or FAS?

FAS has higher volatility (12.26%) compared to TRXAX (2.13%). In terms of maximum drawdown, TRXAX dropped -20.50% vs FAS's -91.61%.

Which has better risk-adjusted returns?

TRXAX currently has the higher Sharpe Ratio (2.20 vs 0.20), 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.