ANGLX vs. BRW
ANGLX (Angel Oak Multi-Strategy Income Fund) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, ANGLX returned 1.22%/yr vs 7.16%/yr for BRW. Their 0.14 correlation means their historical movements had little consistent relationship. ANGLX charges 1.21%/yr vs 1.71%/yr for BRW.
Performance
ANGLX vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, ANGLX achieves a 1.82% return, which is significantly lower than BRW's 3.37% return.
ANGLX
- 1D
- -0.11%
- 1M
- -0.68%
- 6M
- 1.34%
- YTD
- 1.82%
- 1Y
- 4.96%
- 3Y*
- 6.50%
- 5Y*
- 1.22%
- 10Y*
- 2.27%
- ALL TIME*
- 4.09%
BRW
- 1D
- 0.30%
- 1M
- 0.97%
- 6M
- 5.88%
- YTD
- 3.37%
- 1Y
- -8.31%
- 3Y*
- 8.50%
- 5Y*
- 7.16%
- 10Y*
- —
- ALL TIME*
- 7.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $1.29M | $1.36M | $1.43M |
ANGLX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ANGLX Angel Oak Multi-Strategy Income Fund | 1.82% | 7.45% | 7.60% | 4.06% | -14.00% | 2.31% |
BRW Saba Capital Income & Opportunities Fund | 3.37% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between ANGLX and BRW is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.14 |
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Return for Risk
ANGLX vs. BRW — Risk / Return Rank
ANGLX
BRW
ANGLX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Angel Oak Multi-Strategy Income Fund (ANGLX) and Saba Capital Income & Opportunities Fund (BRW). 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.
| ANGLX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.02 | ||
| Sortino ratioReturn per unit of downside risk | +5.22 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 0.90 | +0.69 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | -0.47 | +4.11 |
| Martin ratioReturn relative to average drawdown | 14.66 | -0.78 | +15.44 |
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Drawdowns
ANGLX vs. BRW - Drawdown Comparison
The maximum ANGLX drawdown since its inception was -16.40%, smaller than the maximum BRW drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for ANGLX and BRW.
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Drawdown Indicators
| ANGLX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.40% | -17.74% | +1.34% |
Max Drawdown (1Y)Largest decline over 1 year | -1.47% | -17.74% | +16.27% |
Max Drawdown (3Y)Largest decline over 3 years | -1.59% | -17.74% | +16.15% |
Max Drawdown (5Y)Largest decline over 5 years | -14.34% | -17.74% | +3.40% |
Max Drawdown (10Y)Largest decline over 10 years | -16.40% | — | — |
Current DrawdownCurrent decline from peak | -0.80% | -8.92% | +8.12% |
Average DrawdownAverage peak-to-trough decline | -2.72% | -4.11% | +1.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 10.62% | -10.26% |
Volatility
ANGLX vs. BRW - Volatility Comparison
The current volatility for Angel Oak Multi-Strategy Income Fund (ANGLX) is 0.50%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 3.91%. This indicates that ANGLX experiences smaller price fluctuations and is considered to be less risky than BRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ANGLX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.50% | 3.91% | -3.41% |
Volatility (6M)Calculated over the trailing 6-month period | 1.72% | 8.85% | -7.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.26% | 13.68% | -11.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.81% | 13.02% | -10.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.29% | 12.89% | -9.60% |
ANGLX vs. BRW - Expense Ratio Comparison
ANGLX has a 1.21% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
ANGLX vs. BRW - Dividend Comparison
ANGLX's dividend yield for the trailing twelve months is around 4.74%, less than BRW's 15.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ANGLX Angel Oak Multi-Strategy Income Fund | 4.74% | 5.41% | 5.89% | 4.78% | 3.69% | 4.69% | 4.38% | 4.53% | 4.70% | 4.97% | 5.83% | 6.74% |
BRW Saba Capital Income & Opportunities Fund | 15.36% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ANGLX and BRW have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (3.91%) compared to ANGLX (0.50%). In terms of maximum drawdown, ANGLX dropped -16.40% vs BRW's -17.74%.
ANGLX currently has the higher Sharpe Ratio (2.41 vs -0.61), 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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