BRW vs. FCBYX
BRW (Saba Capital Income & Opportunities Fund) and FCBYX (Nuveen Strategic Income Fund) are both Multisector Bonds funds. Over the past 5 years, BRW returned 6.18%/yr vs 2.91%/yr for FCBYX. At a 0.17 correlation, their price movements are largely independent. BRW charges 1.71%/yr vs 0.59%/yr for FCBYX.
Performance
BRW vs. FCBYX - Performance Comparison
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Returns By Period
In the year-to-date period, BRW achieves a -0.25% return, which is significantly lower than FCBYX's 0.96% return.
BRW
- 1D
- 0.15%
- 1M
- -2.78%
- YTD
- -0.25%
- 6M
- 0.62%
- 1Y
- -4.10%
- 3Y*
- 8.94%
- 5Y*
- 6.18%
- 10Y*
- —
FCBYX
- 1D
- -0.10%
- 1M
- 0.86%
- YTD
- 0.96%
- 6M
- 1.44%
- 1Y
- 6.27%
- 3Y*
- 7.29%
- 5Y*
- 2.91%
- 10Y*
- 4.31%
BRW vs. FCBYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | -0.25% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
FCBYX Nuveen Strategic Income Fund | 0.96% | 8.55% | 6.86% | 9.14% | -10.36% | 1.43% |
Correlation
The correlation between BRW and FCBYX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.17 |
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Return for Risk
BRW vs. FCBYX — Risk / Return Rank
BRW
FCBYX
BRW vs. FCBYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saba Capital Income & Opportunities Fund (BRW) and Nuveen Strategic Income Fund (FCBYX). 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 | FCBYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.60 | ||
| Sortino ratioReturn per unit of downside risk | -4.35 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.51 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.23 | 2.70 | -2.93 |
| Martin ratioReturn relative to average drawdown | -0.40 | 8.90 | -9.30 |
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Drawdowns
BRW vs. FCBYX - Drawdown Comparison
The maximum BRW drawdown since its inception was -17.74%, smaller than the maximum FCBYX drawdown of -24.49%. Use the drawdown chart below to compare losses from any high point for BRW and FCBYX.
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Drawdown Indicators
| BRW | FCBYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.74% | -24.49% | +6.75% |
Max Drawdown (1Y)Largest decline over 1 year | -17.74% | -2.39% | -15.35% |
Max Drawdown (3Y)Largest decline over 3 years | -17.74% | -4.75% | -12.99% |
Max Drawdown (5Y)Largest decline over 5 years | -17.74% | -15.74% | -2.00% |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.93% | — |
Current DrawdownCurrent decline from peak | -12.10% | -0.58% | -11.52% |
Average DrawdownAverage peak-to-trough decline | -3.99% | -2.40% | -1.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.16% | 0.72% | +9.44% |
Volatility
BRW vs. FCBYX - Volatility Comparison
Saba Capital Income & Opportunities Fund (BRW) has a higher volatility of 4.17% compared to Nuveen Strategic Income Fund (FCBYX) at 0.83%. This indicates that BRW's price experiences larger fluctuations and is considered to be riskier than FCBYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRW | FCBYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 0.83% | +3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 8.18% | 2.08% | +6.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.33% | 2.81% | +10.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.93% | 4.13% | +8.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.89% | 4.21% | +8.68% |
BRW vs. FCBYX - Expense Ratio Comparison
BRW has a 1.71% expense ratio, which is higher than FCBYX's 0.59% expense ratio.
Dividends
BRW vs. FCBYX - Dividend Comparison
BRW's dividend yield for the trailing twelve months is around 15.71%, more than FCBYX's 5.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.71% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FCBYX Nuveen Strategic Income Fund | 5.39% | 6.22% | 6.44% | 5.59% | 4.71% | 3.08% | 3.58% | 3.69% | 3.91% | 4.92% | 5.28% | 5.53% |
Frequently Asked Questions
BRW and FCBYX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (4.17%) compared to FCBYX (0.83%). In terms of maximum drawdown, BRW dropped -17.74% vs FCBYX's -24.49%.
FCBYX currently has the higher Sharpe Ratio (2.29 vs -0.31), 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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