ESIIX vs. BRW
ESIIX (Eaton Vance Strategic Income Fund Class I) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Both are actively managed. Over the past 5 years, ESIIX returned 5.59%/yr vs 6.64%/yr for BRW. At a 0.16 correlation, their price movements are largely independent. ESIIX charges 1.21%/yr vs 1.71%/yr for BRW.
Performance
ESIIX vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, ESIIX achieves a 2.78% return, which is significantly lower than BRW's 3.52% return.
ESIIX
- 1D
- 0.00%
- 1M
- 0.44%
- 6M
- 2.25%
- YTD
- 2.78%
- 1Y
- 8.91%
- 3Y*
- 9.04%
- 5Y*
- 5.59%
- 10Y*
- 5.19%
BRW
- 1D
- 0.76%
- 1M
- 2.67%
- 6M
- 3.59%
- YTD
- 3.52%
- 1Y
- -4.66%
- 3Y*
- 9.80%
- 5Y*
- 6.64%
- 10Y*
- —
ESIIX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ESIIX Eaton Vance Strategic Income Fund Class I | 2.78% | 12.46% | 6.66% | 8.52% | -2.32% | 0.51% |
BRW Saba Capital Income & Opportunities Fund | 3.52% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between ESIIX and BRW is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.16 |
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Return for Risk
ESIIX vs. BRW — Risk / Return Rank
ESIIX
BRW
ESIIX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Strategic Income Fund Class I (ESIIX) 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.
| ESIIX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.48 | ||
| Sortino ratioReturn per unit of downside risk | +4.92 | ||
| Omega ratioGain probability vs. loss probability | 1.70 | 0.95 | +0.75 |
| Calmar ratioReturn relative to maximum drawdown | 3.67 | -0.26 | +3.94 |
| Martin ratioReturn relative to average drawdown | 13.83 | -0.45 | +14.27 |
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Drawdowns
ESIIX vs. BRW - Drawdown Comparison
The maximum ESIIX drawdown since its inception was -26.87%, which is greater than BRW's maximum drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for ESIIX and BRW.
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Drawdown Indicators
| ESIIX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.87% | -17.74% | -9.13% |
Max Drawdown (1Y)Largest decline over 1 year | -2.44% | -17.74% | +15.30% |
Max Drawdown (3Y)Largest decline over 3 years | -2.46% | -17.74% | +15.28% |
Max Drawdown (5Y)Largest decline over 5 years | -6.18% | -17.74% | +11.56% |
Max Drawdown (10Y)Largest decline over 10 years | -12.25% | — | — |
Current DrawdownCurrent decline from peak | -0.29% | -8.78% | +8.49% |
Average DrawdownAverage peak-to-trough decline | -4.70% | -4.05% | -0.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 10.41% | -9.76% |
Volatility
ESIIX vs. BRW - Volatility Comparison
The current volatility for Eaton Vance Strategic Income Fund Class I (ESIIX) is 0.88%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 3.36%. This indicates that ESIIX 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
| ESIIX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.88% | 3.36% | -2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 2.31% | 8.38% | -6.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.85% | 13.45% | -10.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.21% | 12.97% | -9.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.15% | 12.87% | -9.72% |
ESIIX vs. BRW - Expense Ratio Comparison
ESIIX has a 1.21% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
ESIIX vs. BRW - Dividend Comparison
ESIIX's dividend yield for the trailing twelve months is around 7.40%, less than BRW's 15.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.34% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ESIIX Eaton Vance Strategic Income Fund Class I | 7.40% | 7.01% | 7.23% | 7.19% | 5.82% | 4.57% | 4.44% | 5.29% | 4.25% | 3.95% | 4.18% | 4.59% |
Frequently Asked Questions
ESIIX and BRW have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (3.36%) compared to ESIIX (0.88%). In terms of maximum drawdown, ESIIX dropped -26.87% vs BRW's -17.74%.
ESIIX currently has the higher Sharpe Ratio (3.13 vs -0.35), 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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