CRMVX vs. BRW
CRMVX (Potomac Managed Volatility Fund) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, CRMVX returned 2.25%/yr vs 7.33%/yr for BRW. At a 0.15 correlation, their price movements are largely independent. CRMVX charges 1.62%/yr vs 1.71%/yr for BRW.
Performance
CRMVX vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, CRMVX achieves a 1.71% return, which is significantly lower than BRW's 4.77% return.
CRMVX
- 1D
- 0.10%
- 1M
- -0.30%
- 6M
- 1.10%
- YTD
- 1.71%
- 1Y
- 5.86%
- 3Y*
- 3.89%
- 5Y*
- 2.25%
- 10Y*
- —
BRW
- 1D
- 0.30%
- 1M
- 3.91%
- 6M
- 4.38%
- YTD
- 4.77%
- 1Y
- -3.04%
- 3Y*
- 10.24%
- 5Y*
- 7.33%
- 10Y*
- —
CRMVX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
CRMVX Potomac Managed Volatility Fund | 1.71% | 4.91% | 1.22% | 0.25% | 4.76% | 1.00% |
BRW Saba Capital Income & Opportunities Fund | 4.77% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between CRMVX and BRW is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
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
CRMVX vs. BRW — Risk / Return Rank
CRMVX
BRW
CRMVX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Potomac Managed Volatility Fund (CRMVX) and Saba Capital Income & Opportunities Fund (BRW). 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.
| CRMVX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.59 | ||
| Sortino ratioReturn per unit of downside risk | +2.13 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 0.97 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | -0.17 | +2.69 |
| Martin ratioReturn relative to average drawdown | 8.57 | -0.29 | +8.86 |
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Drawdowns
CRMVX vs. BRW - Drawdown Comparison
The maximum CRMVX drawdown since its inception was -97.39%, which is greater than BRW's maximum drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for CRMVX and BRW.
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Drawdown Indicators
| CRMVX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -97.39% | -17.74% | -79.65% |
Max Drawdown (1Y)Largest decline over 1 year | -2.25% | -17.74% | +15.49% |
Max Drawdown (3Y)Largest decline over 3 years | -97.39% | -17.74% | -79.65% |
Max Drawdown (5Y)Largest decline over 5 years | -97.39% | -17.74% | -79.65% |
Current DrawdownCurrent decline from peak | -97.11% | -7.68% | -89.43% |
Average DrawdownAverage peak-to-trough decline | -25.44% | -4.06% | -21.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 10.43% | -9.77% |
Volatility
CRMVX vs. BRW - Volatility Comparison
The current volatility for Potomac Managed Volatility Fund (CRMVX) is 0.79%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 3.28%. This indicates that CRMVX experiences smaller price fluctuations and is considered to be less risky than BRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CRMVX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 3.28% | -2.49% |
Volatility (6M)Calculated over the trailing 6-month period | 3.21% | 8.40% | -5.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.18% | 13.44% | -9.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1,600.31% | 12.98% | +1,587.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1,455.84% | 12.87% | +1,442.97% |
CRMVX vs. BRW - Expense Ratio Comparison
CRMVX has a 1.62% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
CRMVX vs. BRW - Dividend Comparison
CRMVX's dividend yield for the trailing twelve months is around 5.66%, less than BRW's 15.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.16% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% |
CRMVX Potomac Managed Volatility Fund | 5.66% | 5.75% | 3.75% | 2.74% | 0.57% | 2.59% | 0.95% |
Frequently Asked Questions
CRMVX and BRW have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (3.28%) compared to CRMVX (0.79%). In terms of maximum drawdown, CRMVX dropped -97.39% vs BRW's -17.74%.
CRMVX currently has the higher Sharpe Ratio (1.36 vs -0.23), 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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