GSCMX vs. BRW
GSCMX (Goldman Sachs Income Fund) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, GSCMX returned 2.67%/yr vs 7.19%/yr for BRW. Their 0.23 correlation means their historical movements had little consistent relationship. GSCMX charges 0.72%/yr vs 1.71%/yr for BRW.
Performance
GSCMX vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, GSCMX achieves a 0.24% return, which is significantly lower than BRW's 3.06% return.
GSCMX
- 1D
- 0.05%
- 1M
- -0.61%
- 6M
- -0.03%
- YTD
- 0.24%
- 1Y
- 3.14%
- 3Y*
- 6.59%
- 5Y*
- 2.67%
- 10Y*
- —
- ALL TIME*
- 3.62%
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%
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 |
GSCMX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GSCMX Goldman Sachs Income Fund | 0.24% | 8.70% | 6.13% | 10.60% | -10.75% | 1.69% |
BRW Saba Capital Income & Opportunities Fund | 3.06% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between GSCMX and BRW is 0.18, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
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
GSCMX vs. BRW — Risk / Return Rank
GSCMX
BRW
GSCMX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Income Fund (GSCMX) 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.
| GSCMX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.90 | ||
| Sortino ratioReturn per unit of downside risk | +2.68 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.90 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | -0.48 | +1.85 |
| Martin ratioReturn relative to average drawdown | 6.27 | -0.80 | +7.07 |
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Drawdowns
GSCMX vs. BRW - Drawdown Comparison
The maximum GSCMX drawdown since its inception was -20.12%, which is greater than BRW's maximum drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for GSCMX and BRW.
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Drawdown Indicators
| GSCMX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.12% | -17.74% | -2.38% |
Max Drawdown (1Y)Largest decline over 1 year | -2.93% | -17.74% | +14.81% |
Max Drawdown (3Y)Largest decline over 3 years | -3.24% | -17.74% | +14.50% |
Max Drawdown (5Y)Largest decline over 5 years | -18.20% | -17.74% | -0.46% |
Current DrawdownCurrent decline from peak | -0.72% | -9.19% | +8.47% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -4.10% | +0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.64% | 10.60% | -9.96% |
Volatility
GSCMX vs. BRW - Volatility Comparison
The current volatility for Goldman Sachs Income Fund (GSCMX) is 0.70%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 4.03%. This indicates that GSCMX 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
| GSCMX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.70% | 4.03% | -3.33% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 8.85% | -6.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.14% | 13.66% | -10.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.39% | 13.01% | -8.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.73% | 12.90% | -7.17% |
GSCMX vs. BRW - Expense Ratio Comparison
GSCMX has a 0.72% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
GSCMX vs. BRW - Dividend Comparison
GSCMX's dividend yield for the trailing twelve months is around 5.87%, less than BRW's 15.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.41% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% |
GSCMX Goldman Sachs Income Fund | 5.87% | 5.09% | 5.39% | 4.71% | 8.43% | 3.51% | 3.95% | 0.27% |
Frequently Asked Questions
GSCMX and BRW have a correlation of 0.18, 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 GSCMX (0.70%). In terms of maximum drawdown, GSCMX dropped -20.12% vs BRW's -17.74%.
GSCMX currently has the higher Sharpe Ratio (1.28 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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