TRXAX vs. MSTGX

Last updated Jul 14, 2026

TRXAX (Catalyst/MAP Global Balanced Fund) and MSTGX (Morningstar Global Income Fund) are both Global Allocation funds. Over the past 5 years, TRXAX returned 5.36%/yr vs 4.53%/yr for MSTGX. Their correlation of 0.81 suggests significant overlap in exposure. TRXAX charges 1.22%/yr vs 0.62%/yr for MSTGX.

Performance

TRXAX vs. MSTGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Catalyst/MAP Global Balanced Fund (TRXAX) and Morningstar Global Income Fund (MSTGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TRXAX having a 6.50% return and MSTGX slightly higher at 6.54%.

TRXAX

• 1D: 0.30%
• 1M: -0.28%
• 6M: 4.61%
• YTD: 6.50%
• 1Y: 12.55%
• 3Y*: 9.84%
• 5Y*: 5.36%
• 10Y*: 5.67%

MSTGX

• 1D: 0.19%
• 1M: -0.29%
• 6M: 4.86%
• YTD: 6.54%
• 1Y: 9.33%
• 3Y*: 10.23%
• 5Y*: 4.53%
• 10Y*: —

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

TRXAX vs. MSTGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TRXAX Catalyst/MAP Global Balanced Fund	6.50%	16.16%	4.67%	5.23%	-7.44%	9.65%	3.62%	11.51%	-2.64%
MSTGX Morningstar Global Income Fund	6.54%	12.04%	5.36%	11.91%	-11.18%	8.46%	3.92%	19.97%	-3.56%

Correlation

The correlation between TRXAX and MSTGX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Nov 5, 2018	0.81

The correlation between TRXAX and MSTGX shifts across timeframes, from 0.65 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TRXAX vs. MSTGX — Risk / Return Rank

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

TRXAX

TRXAX Risk / Return Rank: 63
TRXAX Sharpe Ratio Rank: 74
TRXAX Sortino Ratio Rank: 74
TRXAX Omega Ratio Rank: 72
TRXAX Calmar Ratio Rank: 52
TRXAX Martin Ratio Rank: 43

MSTGX

MSTGX Risk / Return Rank: 65
MSTGX Sharpe Ratio Rank: 66
MSTGX Sortino Ratio Rank: 71
MSTGX Omega Ratio Rank: 65
MSTGX Calmar Ratio Rank: 73
MSTGX Martin Ratio Rank: 51

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. MSTGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Catalyst/MAP Global Balanced Fund (TRXAX) and Morningstar Global Income Fund (MSTGX). 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	MSTGX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	1.79	+0.14
Sortino ratio: Return per unit of downside risk	2.76	2.67	+0.09
Omega ratio: Gain probability vs. loss probability	1.35	1.33	+0.02
Calmar ratio: Return relative to maximum drawdown	2.23	2.65	-0.41
Martin ratio: Return relative to average drawdown	7.27	8.34	-1.07

TRXAX vs. MSTGX - Sharpe Ratio Comparison

The current TRXAX Sharpe Ratio is 1.93, which is comparable to the MSTGX Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of TRXAX and MSTGX, 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. MSTGX - Drawdown Comparison

The maximum TRXAX drawdown since its inception was -20.50%, smaller than the maximum MSTGX drawdown of -27.52%. Use the drawdown chart below to compare losses from any high point for TRXAX and MSTGX.

Drawdown Indicators

	TRXAX	MSTGX	Difference
Max Drawdown Largest peak-to-trough decline	-20.50%	-27.52%	+7.02%
Max Drawdown (1Y) Largest decline over 1 year	-5.60%	-4.38%	-1.22%
Max Drawdown (3Y) Largest decline over 3 years	-6.04%	-6.56%	+0.52%
Max Drawdown (5Y) Largest decline over 5 years	-16.03%	-19.64%	+3.61%
Max Drawdown (10Y) Largest decline over 10 years	-20.50%	—	—
Current Drawdown Current decline from peak	-1.24%	-0.71%	-0.53%
Average Drawdown Average peak-to-trough decline	-2.66%	-4.28%	+1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	1.27%	+0.45%

Volatility

TRXAX vs. MSTGX - Volatility Comparison

Catalyst/MAP Global Balanced Fund (TRXAX) has a higher volatility of 2.31% compared to Morningstar Global Income Fund (MSTGX) at 1.69%. This indicates that TRXAX's price experiences larger fluctuations and is considered to be riskier than MSTGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRXAX	MSTGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	1.69%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	5.27%	4.82%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	6.48%	6.47%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.86%	8.12%	-0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.19%	10.79%	-2.60%

TRXAX vs. MSTGX - Expense Ratio Comparison

TRXAX has a 1.22% expense ratio, which is higher than MSTGX's 0.62% expense ratio.

Dividends

TRXAX vs. MSTGX - Dividend Comparison

TRXAX's dividend yield for the trailing twelve months is around 2.13%, less than MSTGX's 3.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSTGX Morningstar Global Income Fund	3.84%	2.97%	6.64%	6.32%	8.79%	10.48%	2.96%	4.11%	0.56%	0.00%	0.00%	0.00%
TRXAX Catalyst/MAP Global Balanced Fund	2.13%	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 MSTGX in my portfolio?

TRXAX and MSTGX have a correlation of 0.65, 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 MSTGX?

TRXAX has higher volatility (2.31%) compared to MSTGX (1.69%). In terms of maximum drawdown, TRXAX dropped -20.50% vs MSTGX's -27.52%.

Which has better risk-adjusted returns?

TRXAX currently has the higher Sharpe Ratio (1.93 vs 1.79), 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.