BRW vs. CBRDX
BRW (Saba Capital Income & Opportunities Fund) and CBRDX (CrossingBridge Responsible Credit Fund) are both Multisector Bonds funds. Over the past 5 years, BRW returned 7.01%/yr vs 4.66%/yr for CBRDX. At a 0.17 correlation, their price movements are largely independent. BRW charges 1.71%/yr vs 0.89%/yr for CBRDX.
Performance
BRW vs. CBRDX - Performance Comparison
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Returns By Period
In the year-to-date period, BRW achieves a 3.21% return, which is significantly higher than CBRDX's 0.51% return.
BRW
- 1D
- -0.90%
- 1M
- 2.36%
- 6M
- 4.03%
- YTD
- 3.21%
- 1Y
- -5.76%
- 3Y*
- 9.50%
- 5Y*
- 7.01%
- 10Y*
- —
CBRDX
- 1D
- -0.11%
- 1M
- -0.22%
- 6M
- 0.06%
- YTD
- 0.51%
- 1Y
- 2.54%
- 3Y*
- 5.83%
- 5Y*
- 4.66%
- 10Y*
- —
BRW vs. CBRDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 3.21% | 5.89% | 12.16% | 18.49% | -4.64% | 0.50% |
CBRDX CrossingBridge Responsible Credit Fund | 0.51% | 5.01% | 7.21% | 8.00% | 1.49% | 1.14% |
Correlation
The correlation between BRW and CBRDX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2021 | 0.17 |
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Return for Risk
BRW vs. CBRDX — Risk / Return Rank
BRW
CBRDX
BRW vs. CBRDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saba Capital Income & Opportunities Fund (BRW) and CrossingBridge Responsible Credit Fund (CBRDX). 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 | CBRDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | -2.33 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.33 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | 2.01 | -2.34 |
| Martin ratioReturn relative to average drawdown | -0.55 | 5.29 | -5.84 |
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Drawdowns
BRW vs. CBRDX - Drawdown Comparison
The maximum BRW drawdown since its inception was -17.74%, which is greater than CBRDX's maximum drawdown of -2.46%. Use the drawdown chart below to compare losses from any high point for BRW and CBRDX.
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Drawdown Indicators
| BRW | CBRDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.74% | -2.46% | -15.28% |
Max Drawdown (1Y)Largest decline over 1 year | -17.74% | -1.27% | -16.47% |
Max Drawdown (3Y)Largest decline over 3 years | -17.74% | -2.46% | -15.28% |
Max Drawdown (5Y)Largest decline over 5 years | -17.74% | -2.46% | -15.28% |
Current DrawdownCurrent decline from peak | -9.06% | -0.71% | -8.35% |
Average DrawdownAverage peak-to-trough decline | -4.07% | -0.36% | -3.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.46% | 0.48% | +9.98% |
Volatility
BRW vs. CBRDX - Volatility Comparison
Saba Capital Income & Opportunities Fund (BRW) has a higher volatility of 3.33% compared to CrossingBridge Responsible Credit Fund (CBRDX) at 0.81%. This indicates that BRW's price experiences larger fluctuations and is considered to be riskier than CBRDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRW | CBRDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.33% | 0.81% | +2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 8.44% | 1.43% | +7.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.48% | 1.86% | +11.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.95% | 2.07% | +10.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.87% | 2.07% | +10.80% |
BRW vs. CBRDX - Expense Ratio Comparison
BRW has a 1.71% expense ratio, which is higher than CBRDX's 0.89% expense ratio.
Dividends
BRW vs. CBRDX - Dividend Comparison
BRW's dividend yield for the trailing twelve months is around 15.39%, more than CBRDX's 6.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.39% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% |
CBRDX CrossingBridge Responsible Credit Fund | 6.55% | 7.52% | 8.57% | 8.57% | 6.67% | 1.34% |
Frequently Asked Questions
BRW and CBRDX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (3.33%) compared to CBRDX (0.81%). In terms of maximum drawdown, BRW dropped -17.74% vs CBRDX's -2.46%.
CBRDX currently has the higher Sharpe Ratio (1.38 vs -0.43), 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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