BRW vs. FRSTX
BRW (Saba Capital Income & Opportunities Fund) and FRSTX (Franklin Strategic Income Fund) are both Multisector Bonds funds. Over the past 5 years, BRW returned 7.19%/yr vs 1.09%/yr for FRSTX. Their 0.19 correlation means their historical movements had little consistent relationship. BRW charges 1.71%/yr vs 0.89%/yr for FRSTX.
Performance
BRW vs. FRSTX - Performance Comparison
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Returns By Period
In the year-to-date period, BRW achieves a 3.06% return, which is significantly higher than FRSTX's -0.50% return.
BRW
- 1D
- -1.64%
- 1M
- 0.67%
- 6M
- 5.41%
- YTD
- 3.06%
- 1Y
- -8.59%
- 3Y*
- 8.57%
- 5Y*
- 7.19%
- 10Y*
- —
- ALL TIME*
- 7.02%
FRSTX
- 1D
- 0.00%
- 1M
- -1.08%
- 6M
- -0.85%
- YTD
- -0.50%
- 1Y
- 2.09%
- 3Y*
- 4.28%
- 5Y*
- 1.09%
- 10Y*
- 2.32%
- ALL TIME*
- 5.24%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.26M | $1.37M | $1.47M | |
| $0.00 | $0.00 | $0.00 |
BRW vs. FRSTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 3.06% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
FRSTX Franklin Strategic Income Fund | -0.50% | 5.97% | 3.28% | 8.44% | -10.72% | 1.73% |
Correlation
The correlation between BRW and FRSTX is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.19 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.19 |
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Return for Risk
BRW vs. FRSTX — Risk / Return Rank
BRW
FRSTX
BRW vs. FRSTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saba Capital Income & Opportunities Fund (BRW) and Franklin Strategic Income Fund (FRSTX). 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 | FRSTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.38 | ||
| Sortino ratioReturn per unit of downside risk | -1.81 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.13 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 0.96 | -1.44 |
| Martin ratioReturn relative to average drawdown | -0.80 | 2.42 | -3.23 |
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Drawdowns
BRW vs. FRSTX - Drawdown Comparison
The maximum BRW drawdown since its inception was -17.74%, smaller than the maximum FRSTX drawdown of -19.09%. Use the drawdown chart below to compare losses from any high point for BRW and FRSTX.
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Drawdown Indicators
| BRW | FRSTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.74% | -19.09% | +1.35% |
Max Drawdown (1Y)Largest decline over 1 year | -17.74% | -2.95% | -14.79% |
Max Drawdown (3Y)Largest decline over 3 years | -17.74% | -3.40% | -14.34% |
Max Drawdown (5Y)Largest decline over 5 years | -17.74% | -14.83% | -2.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -17.63% | — |
Current DrawdownCurrent decline from peak | -9.19% | -2.24% | -6.95% |
Average DrawdownAverage peak-to-trough decline | -4.10% | -2.05% | -2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.60% | 1.17% | +9.43% |
Volatility
BRW vs. FRSTX - Volatility Comparison
Saba Capital Income & Opportunities Fund (BRW) has a higher volatility of 4.03% compared to Franklin Strategic Income Fund (FRSTX) at 0.99%. This indicates that BRW's price experiences larger fluctuations and is considered to be riskier than FRSTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRW | FRSTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.03% | 0.99% | +3.04% |
Volatility (6M)Calculated over the trailing 6-month period | 8.85% | 2.93% | +5.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.66% | 3.77% | +9.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.01% | 4.16% | +8.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.90% | 4.15% | +8.75% |
BRW vs. FRSTX - Expense Ratio Comparison
BRW has a 1.71% expense ratio, which is higher than FRSTX's 0.89% expense ratio.
Dividends
BRW vs. FRSTX - Dividend Comparison
BRW's dividend yield for the trailing twelve months is around 15.41%, more than FRSTX's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.41% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FRSTX Franklin Strategic Income Fund | 3.97% | 3.36% | 4.74% | 4.56% | 4.36% | 3.62% | 3.93% | 4.47% | 4.32% | 2.25% | 2.48% | 4.81% |
Frequently Asked Questions
BRW and FRSTX 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 (4.03%) compared to FRSTX (0.99%). In terms of maximum drawdown, BRW dropped -17.74% vs FRSTX's -19.09%.
FRSTX currently has the higher Sharpe Ratio (0.75 vs -0.62), 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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