BRW vs. IOBZX
BRW (Saba Capital Income & Opportunities Fund) and IOBZX (ICON FlexibleBondFund) are both Multisector Bonds funds. Over the past 5 years, BRW returned 7.19%/yr vs 3.70%/yr for IOBZX. Their 0.23 correlation means their historical movements had little consistent relationship. BRW charges 1.71%/yr vs 0.76%/yr for IOBZX.
Performance
BRW vs. IOBZX - 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 IOBZX's 1.89% 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%
IOBZX
- 1D
- 0.12%
- 1M
- 0.00%
- 6M
- 0.94%
- YTD
- 1.89%
- 1Y
- 4.57%
- 3Y*
- 6.29%
- 5Y*
- 3.70%
- 10Y*
- 3.98%
- ALL TIME*
- 4.03%
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. IOBZX - 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% |
IOBZX ICON FlexibleBondFund | 1.89% | 5.67% | 8.33% | 8.28% | -5.63% | 1.81% |
Correlation
The correlation between BRW and IOBZX is 0.19, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.19 |
Correlation (3Y) Balances recent behavior with more history. | 0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.24 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.23 |
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Return for Risk
BRW vs. IOBZX — Risk / Return Rank
BRW
IOBZX
BRW vs. IOBZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saba Capital Income & Opportunities Fund (BRW) and ICON FlexibleBondFund (IOBZX). 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 | IOBZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.00 | ||
| Sortino ratioReturn per unit of downside risk | -4.10 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.54 | -0.64 |
| Calmar ratioReturn relative to maximum drawdown | -0.48 | 2.33 | -2.81 |
| Martin ratioReturn relative to average drawdown | -0.80 | 10.66 | -11.46 |
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Drawdowns
BRW vs. IOBZX - Drawdown Comparison
The maximum BRW drawdown since its inception was -17.74%, which is greater than IOBZX's maximum drawdown of -15.53%. Use the drawdown chart below to compare losses from any high point for BRW and IOBZX.
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Drawdown Indicators
| BRW | IOBZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.74% | -15.53% | -2.21% |
Max Drawdown (1Y)Largest decline over 1 year | -17.74% | -2.08% | -15.66% |
Max Drawdown (3Y)Largest decline over 3 years | -17.74% | -2.97% | -14.77% |
Max Drawdown (5Y)Largest decline over 5 years | -17.74% | -8.48% | -9.26% |
Max Drawdown (10Y)Largest decline over 10 years | — | -15.53% | — |
Current DrawdownCurrent decline from peak | -9.19% | -0.23% | -8.96% |
Average DrawdownAverage peak-to-trough decline | -4.10% | -1.27% | -2.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.60% | 0.45% | +10.15% |
Volatility
BRW vs. IOBZX - Volatility Comparison
Saba Capital Income & Opportunities Fund (BRW) has a higher volatility of 4.03% compared to ICON FlexibleBondFund (IOBZX) at 0.59%. This indicates that BRW's price experiences larger fluctuations and is considered to be riskier than IOBZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRW | IOBZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.03% | 0.59% | +3.44% |
Volatility (6M)Calculated over the trailing 6-month period | 8.85% | 1.71% | +7.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.66% | 2.03% | +11.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.01% | 2.83% | +10.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.90% | 3.70% | +9.20% |
BRW vs. IOBZX - Expense Ratio Comparison
BRW has a 1.71% expense ratio, which is higher than IOBZX's 0.76% expense ratio.
Dividends
BRW vs. IOBZX - Dividend Comparison
BRW's dividend yield for the trailing twelve months is around 15.41%, more than IOBZX's 5.44% 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% |
IOBZX ICON FlexibleBondFund | 5.44% | 6.74% | 6.71% | 5.65% | 5.22% | 4.90% | 4.03% | 4.67% | 4.18% | 4.07% | 3.58% | 4.00% |
Frequently Asked Questions
BRW and IOBZX have a correlation of 0.19, 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 IOBZX (0.59%). In terms of maximum drawdown, BRW dropped -17.74% vs IOBZX's -15.53%.
IOBZX currently has the higher Sharpe Ratio (2.38 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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