Market cycles are inevitable.
Volatility in your portfolio doesn't have to be.
Bear markets, in our view, reveal the true value of a defensive core, and standard portfolios aren't built for non-standard markets. The Catalyst/Millburn Hedge Strategy Fund (MBXIX) is engineered to play defense when traditional asset classes retreat. Given the current macro uncertainty, adding this non-correlated buffer helps to ensure your portfolio isn't just reacting to the next storm, but is better prepared to navigate it. Hybrid strategies that utilize Managed Futures, like MBXIX, can help provide downside defense during bear markets, as shown below. Is your portfolio positioned for the next bear market?
| # | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Q1 '26 |
|---|
Returns ranked 1 (best) to 10 (worst) per calendar year. Gold border = MBXIX.
| Share Class / Benchmark | YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception* |
|---|---|---|---|---|---|---|
| Class I — Inception 1/1/1997 | ||||||
| Class I | 9.92 | 16.79 | 10.61 | 8.68 | 8.42 | 10.34 |
| S&P 500 TR Index | -4.33 | 17.80 | 18.32 | 12.06 | 14.16 | 9.69 |
| ML 3 Month T-Bill Index | 0.86 | 4.03 | 4.77 | 3.36 | 2.27 | 2.33 |
| Class A & C — Inception 12/28/2015 | ||||||
| Class A | 9.82 | 16.47 | 10.32 | 8.41 | 8.15 | 8.69 |
| Class C | 9.62 | 15.61 | 9.50 | 7.59 | 7.34 | 7.87 |
| S&P 500 TR Index | -4.33 | 17.80 | 18.32 | 12.06 | 14.16 | 13.86 |
| ML 3 Month T-Bill Index | 0.86 | 4.03 | 4.77 | 3.36 | 2.27 | 2.22 |
| Class A with Sales Charge | ||||||
| Class A w/ Sales Charge | 3.50 | 9.77 | 8.17 | 7.13 | 7.51 | 8.06 |
*Inception: 1/1/1997 (I Share), 12/28/2015 (A & C Shares). The Fund's maximum sales charge for Class A shares is 5.75%. Total Annual Fund Expenses: 2.25%, 3.00%, and 2.00% (Class A, C, and I, respectively). Performance shown before December 28, 2015 is for the Fund's Predecessor Fund (Millburn Hedge Fund, L.P.). Past performance does not guarantee future results.
Investing in the Fund carries certain risks. The Fund will invest a percentage of its assets in derivatives, such as futures and options contracts. The use of such derivatives and the resulting high portfolio turnover may expose the Fund to additional risks that it would not be subject to if it invested directly in the securities and commodities underlying those derivatives. The Fund may experience losses that exceed those experienced by funds that do not use futures contracts, options and hedging strategies.
Investing in commodities markets may subject the Fund to greater volatility than investments in traditional securities. Currency trading risks include market risk, credit risk and country risk. Foreign investing involves risks not typically associated with U.S. investments. Changes in interest rates and the liquidity of certain investments could affect the Fund's overall performance. The Fund is non-diversified and as a result, changes in the value of a single security may have significant effect on the Fund's value.
The use of leveraging can magnify the potential for gain or loss and amplify the effects of market volatility on the Fund's share price. The Fund is subject to regulatory change and tax risks; changes to current rules could increase costs associated with an investment in the Fund. Alternative investments may not be suitable for all investors.
Index Definitions: Bloomberg U.S. Aggregate Bond Index is a market capitalization-weighted index measuring the performance of the US investment grade bond market. Bloomberg Commodity Index is a diversified benchmark tracking 24 exchange-traded futures on physical commodities. Bloomberg Dollar Spot Index tracks the performance of a basket of developed and emerging market currencies against the U.S. dollar. Eurekahedge Hedge Fund Index is an equally weighted benchmark tracking the performance of over 2,000 constituent funds. FTSE NAREIT All REITs Index is a market-capitalization-weighted index of all publicly traded U.S. REITs. MSCI EAFE Gross Index measures equity performance of large- and mid-cap companies across 21 developed market countries, excluding the U.S. and Canada. MSCI EM Gross Index measures equity performance across 24–25 emerging market countries. S&P 500 TR Index is a widely recognized index of approximately 500 of the largest U.S. companies. SG CTA is an equal-weighted daily benchmark tracking the performance of major Commodity Trading Advisors. ML 3 Month T-Bill Index measures the short-term U.S. Government bond market. Indices assume reinvestment of all dividends and do not reflect fees, expenses, or sales charges. You cannot invest directly in an index.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Catalyst Funds. This and other important information about the Fund is contained in the prospectus, which can be obtained by calling 866-447-4228. The prospectus should be read carefully before investing. The Catalyst Funds are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC. Neither Catalyst Capital Advisors, LLC nor Millburn Ridgefield LLC is affiliated with Northern Lights Distributors, LLC.
