BRW vs. BWDTX
BRW (Saba Capital Income & Opportunities Fund) and BWDTX (Boyd Watterson Limited Duration Enhanced Income Fund) are both Multisector Bonds funds. Over the past 5 years, BRW returned 6.41%/yr vs 4.23%/yr for BWDTX. At a 0.21 correlation, their price movements are largely independent. BRW charges 1.71%/yr vs 0.40%/yr for BWDTX.
Performance
BRW vs. BWDTX - Performance Comparison
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Returns By Period
In the year-to-date period, BRW achieves a 0.83% return, which is significantly lower than BWDTX's 1.88% return.
BRW
- 1D
- -0.30%
- 1M
- -2.31%
- YTD
- 0.83%
- 6M
- 1.70%
- 1Y
- -3.55%
- 3Y*
- 9.33%
- 5Y*
- 6.41%
- 10Y*
- —
BWDTX
- 1D
- 0.10%
- 1M
- 0.40%
- YTD
- 1.88%
- 6M
- 2.09%
- 1Y
- 5.72%
- 3Y*
- 6.57%
- 5Y*
- 4.23%
- 10Y*
- —
BRW vs. BWDTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 0.83% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
BWDTX Boyd Watterson Limited Duration Enhanced Income Fund | 1.88% | 7.14% | 4.92% | 9.80% | -3.16% | 1.50% |
Correlation
The correlation between BRW and BWDTX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.21 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.21 |
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Return for Risk
BRW vs. BWDTX — Risk / Return Rank
BRW
BWDTX
BRW vs. BWDTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saba Capital Income & Opportunities Fund (BRW) and Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX). 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 | BWDTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.69 | ||
| Sortino ratioReturn per unit of downside risk | -7.69 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 2.26 | -1.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 5.76 | -5.97 |
| Martin ratioReturn relative to average drawdown | -0.35 | 29.07 | -29.41 |
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Drawdowns
BRW vs. BWDTX - Drawdown Comparison
The maximum BRW drawdown since its inception was -17.74%, which is greater than BWDTX's maximum drawdown of -10.06%. Use the drawdown chart below to compare losses from any high point for BRW and BWDTX.
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Drawdown Indicators
| BRW | BWDTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.74% | -10.06% | -7.68% |
Max Drawdown (1Y)Largest decline over 1 year | -17.74% | -1.00% | -16.74% |
Max Drawdown (3Y)Largest decline over 3 years | -17.74% | -2.21% | -15.53% |
Max Drawdown (5Y)Largest decline over 5 years | -17.74% | -6.35% | -11.39% |
Current DrawdownCurrent decline from peak | -11.15% | 0.00% | -11.15% |
Average DrawdownAverage peak-to-trough decline | -4.00% | -0.67% | -3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.21% | 0.20% | +10.01% |
Volatility
BRW vs. BWDTX - Volatility Comparison
Saba Capital Income & Opportunities Fund (BRW) has a higher volatility of 4.39% compared to Boyd Watterson Limited Duration Enhanced Income Fund (BWDTX) at 0.41%. This indicates that BRW's price experiences larger fluctuations and is considered to be riskier than BWDTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRW | BWDTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.39% | 0.41% | +3.98% |
Volatility (6M)Calculated over the trailing 6-month period | 8.23% | 1.05% | +7.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.38% | 1.30% | +12.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.94% | 2.21% | +10.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.90% | 2.20% | +10.70% |
BRW vs. BWDTX - Expense Ratio Comparison
BRW has a 1.71% expense ratio, which is higher than BWDTX's 0.40% expense ratio.
Dividends
BRW vs. BWDTX - Dividend Comparison
BRW's dividend yield for the trailing twelve months is around 15.54%, more than BWDTX's 5.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.54% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
BWDTX Boyd Watterson Limited Duration Enhanced Income Fund | 5.63% | 5.70% | 4.13% | 5.51% | 3.80% | 3.20% | 3.18% | 3.47% | 4.18% | 2.90% | 1.35% |
Frequently Asked Questions
BRW and BWDTX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (4.39%) compared to BWDTX (0.41%). In terms of maximum drawdown, BRW dropped -17.74% vs BWDTX's -10.06%.
BWDTX currently has the higher Sharpe Ratio (4.42 vs -0.27), 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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