BRW vs. ADVNX
BRW (Saba Capital Income & Opportunities Fund) and ADVNX (North Square Strategic Income Fund) are both Multisector Bonds funds. Over the past 5 years, BRW returned 6.29%/yr vs 4.15%/yr for ADVNX. At a 0.13 correlation, their price movements are largely independent. BRW charges 1.71%/yr vs 0.90%/yr for ADVNX.
Performance
BRW vs. ADVNX - Performance Comparison
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Returns By Period
In the year-to-date period, BRW achieves a 0.06% return, which is significantly lower than ADVNX's 1.55% return.
BRW
- 1D
- -0.76%
- 1M
- -2.05%
- YTD
- 0.06%
- 6M
- -0.22%
- 1Y
- -3.80%
- 3Y*
- 8.91%
- 5Y*
- 6.29%
- 10Y*
- —
ADVNX
- 1D
- -0.20%
- 1M
- 1.06%
- YTD
- 1.55%
- 6M
- 1.61%
- 1Y
- 6.89%
- 3Y*
- 9.15%
- 5Y*
- 4.15%
- 10Y*
- 4.87%
BRW vs. ADVNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 0.06% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
ADVNX North Square Strategic Income Fund | 1.55% | 11.20% | 9.71% | 5.07% | -8.43% | 3.36% |
Correlation
The correlation between BRW and ADVNX is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.13 |
The correlation between BRW and ADVNX shifts across timeframes, from 0.03 (1 year) to 0.14 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BRW vs. ADVNX — Risk / Return Rank
BRW
ADVNX
BRW vs. ADVNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saba Capital Income & Opportunities Fund (BRW) and North Square Strategic Income Fund (ADVNX). 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.
| BRW | ADVNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.14 | ||
| Sortino ratioReturn per unit of downside risk | -3.05 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.35 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | 2.65 | -2.86 |
| Martin ratioReturn relative to average drawdown | -0.38 | 7.40 | -7.77 |
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Drawdowns
BRW vs. ADVNX - Drawdown Comparison
The maximum BRW drawdown since its inception was -17.74%, which is greater than ADVNX's maximum drawdown of -11.86%. Use the drawdown chart below to compare losses from any high point for BRW and ADVNX.
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Drawdown Indicators
| BRW | ADVNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.74% | -11.86% | -5.88% |
Max Drawdown (1Y)Largest decline over 1 year | -17.74% | -2.57% | -15.17% |
Max Drawdown (3Y)Largest decline over 3 years | -17.74% | -5.22% | -12.52% |
Max Drawdown (5Y)Largest decline over 5 years | -17.74% | -11.86% | -5.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -11.86% | — |
Current DrawdownCurrent decline from peak | -11.83% | -1.20% | -10.63% |
Average DrawdownAverage peak-to-trough decline | -3.98% | -1.92% | -2.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.11% | 0.92% | +9.19% |
Volatility
BRW vs. ADVNX - Volatility Comparison
Saba Capital Income & Opportunities Fund (BRW) has a higher volatility of 4.18% compared to North Square Strategic Income Fund (ADVNX) at 0.85%. This indicates that BRW's price experiences larger fluctuations and is considered to be riskier than ADVNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRW | ADVNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.18% | 0.85% | +3.33% |
Volatility (6M)Calculated over the trailing 6-month period | 8.23% | 2.56% | +5.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.34% | 3.68% | +9.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.92% | 4.24% | +8.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.90% | 3.76% | +9.14% |
BRW vs. ADVNX - Expense Ratio Comparison
BRW has a 1.71% expense ratio, which is higher than ADVNX's 0.90% expense ratio.
Dividends
BRW vs. ADVNX - Dividend Comparison
BRW's dividend yield for the trailing twelve months is around 15.66%, more than ADVNX's 4.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ADVNX North Square Strategic Income Fund | 4.84% | 4.73% | 4.02% | 4.38% | 2.80% | 5.23% | 6.80% | 3.33% | 3.92% | 4.09% | 4.19% | 6.30% |
BRW Saba Capital Income & Opportunities Fund | 15.66% | 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
BRW and ADVNX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (4.18%) compared to ADVNX (0.85%). In terms of maximum drawdown, BRW dropped -17.74% vs ADVNX's -11.86%.
ADVNX currently has the higher Sharpe Ratio (1.85 vs -0.29), 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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