DINDX vs. BRW

Last updated Jun 5, 2026

DINDX (Morgan Stanley Global Fixed Income Opportunities Fund) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Both are actively managed. At a 0.12 correlation, their price movements are largely independent. DINDX charges 0.56%/yr vs 1.71%/yr for BRW.

Performance

DINDX vs. BRW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Global Fixed Income Opportunities Fund (DINDX) and Saba Capital Income & Opportunities Fund (BRW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DINDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BRW

• 1D: -0.88%
• 1M: -0.08%
• YTD: 2.91%
• 6M: 0.69%
• 1Y: 1.98%
• 3Y*: 9.77%
• 5Y*: 6.92%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DINDX vs. BRW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DINDX Morgan Stanley Global Fixed Income Opportunities Fund	0.00%	8.28%	6.76%	8.49%	-7.06%	0.53%
BRW Saba Capital Income & Opportunities Fund	2.91%	5.89%	12.16%	18.49%	-4.64%	3.19%

Correlation

The correlation between DINDX and BRW is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.07
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since May 6, 2021	0.12

The correlation between DINDX and BRW shifts across timeframes, from -0.08 (1 year) to 0.12 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DINDX vs. BRW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BRW

BRW Risk / Return Rank: 4
BRW Sharpe Ratio Rank: 4
BRW Sortino Ratio Rank: 4
BRW Omega Ratio Rank: 4
BRW Calmar Ratio Rank: 3
BRW Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DINDX vs. BRW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Global Fixed Income Opportunities Fund (DINDX) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	DINDX	BRW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.15	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.57	—

Drawdowns

Drawdown Indicators

	DINDX	BRW	Difference
Max Drawdown Largest peak-to-trough decline	—	-17.74%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-17.74%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.74%	—
Current Drawdown Current decline from peak	—	-9.32%	—
Average Drawdown Average peak-to-trough decline	—	-3.93%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.88%	—

Volatility

Volatility by Period

	DINDX	BRW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.55%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	13.17%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	12.83%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	12.86%	—

DINDX vs. BRW - Expense Ratio Comparison

DINDX has a 0.56% expense ratio, which is lower than BRW's 1.71% expense ratio.

Dividends

DINDX vs. BRW - Dividend Comparison

DINDX has not paid dividends to shareholders, while BRW's dividend yield for the trailing twelve months is around 15.03%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRW Saba Capital Income & Opportunities Fund	15.03%	14.46%	12.27%	16.02%	13.82%	4.53%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DINDX Morgan Stanley Global Fixed Income Opportunities Fund	2.69%	4.69%	5.36%	4.69%	5.82%	3.52%	2.98%	3.43%	3.68%	3.13%	6.24%	4.80%

Frequently Asked Questions

Can I hold both DINDX and BRW in my portfolio?

DINDX and BRW have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.