BRW vs. CRMVX
BRW (Saba Capital Income & Opportunities Fund) and CRMVX (Potomac Managed Volatility Fund) are both Multisector Bonds funds. Over the past 5 years, BRW returned 6.41%/yr vs 2.54%/yr for CRMVX. At a 0.15 correlation, their price movements are largely independent. BRW charges 1.71%/yr vs 1.62%/yr for CRMVX.
Performance
BRW vs. CRMVX - 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 CRMVX's 1.91% return.
BRW
- 1D
- -0.30%
- 1M
- -2.31%
- YTD
- 0.83%
- 6M
- 1.70%
- 1Y
- -3.55%
- 3Y*
- 9.33%
- 5Y*
- 6.41%
- 10Y*
- —
CRMVX
- 1D
- 0.00%
- 1M
- 0.10%
- YTD
- 1.91%
- 6M
- 1.74%
- 1Y
- 6.60%
- 3Y*
- 4.20%
- 5Y*
- 2.54%
- 10Y*
- —
BRW vs. CRMVX - 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% |
CRMVX Potomac Managed Volatility Fund | 1.91% | 4.91% | 1.22% | 0.25% | 4.76% | 1.00% |
Correlation
The correlation between BRW and CRMVX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.15 |
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Return for Risk
BRW vs. CRMVX — Risk / Return Rank
BRW
CRMVX
BRW vs. CRMVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saba Capital Income & Opportunities Fund (BRW) and Potomac Managed Volatility Fund (CRMVX). 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 | CRMVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.48 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.31 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 2.94 | -3.14 |
| Martin ratioReturn relative to average drawdown | -0.35 | 10.64 | -10.99 |
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Drawdowns
BRW vs. CRMVX - Drawdown Comparison
The maximum BRW drawdown since its inception was -17.74%, smaller than the maximum CRMVX drawdown of -97.39%. Use the drawdown chart below to compare losses from any high point for BRW and CRMVX.
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Drawdown Indicators
| BRW | CRMVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.74% | -97.39% | +79.65% |
Max Drawdown (1Y)Largest decline over 1 year | -17.74% | -2.25% | -15.49% |
Max Drawdown (3Y)Largest decline over 3 years | -17.74% | -97.39% | +79.65% |
Max Drawdown (5Y)Largest decline over 5 years | -17.74% | -97.39% | +79.65% |
Current DrawdownCurrent decline from peak | -11.15% | -97.11% | +85.96% |
Average DrawdownAverage peak-to-trough decline | -4.00% | -24.82% | +20.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.21% | 0.62% | +9.59% |
Volatility
BRW vs. CRMVX - Volatility Comparison
Saba Capital Income & Opportunities Fund (BRW) has a higher volatility of 4.39% compared to Potomac Managed Volatility Fund (CRMVX) at 1.67%. This indicates that BRW's price experiences larger fluctuations and is considered to be riskier than CRMVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRW | CRMVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.39% | 1.67% | +2.72% |
Volatility (6M)Calculated over the trailing 6-month period | 8.23% | 3.22% | +5.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.38% | 4.23% | +9.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.94% | 1,600.31% | -1,587.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.90% | 1,462.13% | -1,449.23% |
BRW vs. CRMVX - Expense Ratio Comparison
BRW has a 1.71% expense ratio, which is higher than CRMVX's 1.62% expense ratio.
Dividends
BRW vs. CRMVX - Dividend Comparison
BRW's dividend yield for the trailing twelve months is around 15.54%, more than CRMVX's 5.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.54% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% |
CRMVX Potomac Managed Volatility Fund | 5.65% | 5.75% | 3.75% | 2.74% | 0.57% | 2.59% | 0.95% |
Frequently Asked Questions
BRW and CRMVX have a correlation of 0.23, 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 CRMVX (1.67%). In terms of maximum drawdown, BRW dropped -17.74% vs CRMVX's -97.39%.
CRMVX currently has the higher Sharpe Ratio (1.57 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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