JIPIX vs. BRW
JIPIX (John Hancock Funds Strategic Income Opportunities Fund) and BRW (Saba Capital Income & Opportunities Fund) are both Multisector Bonds funds. Over the past 5 years, JIPIX returned 1.16%/yr vs 6.18%/yr for BRW. At a 0.24 correlation, their price movements are largely independent. JIPIX charges 0.76%/yr vs 1.71%/yr for BRW.
Performance
JIPIX vs. BRW - Performance Comparison
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Returns By Period
In the year-to-date period, JIPIX achieves a 1.14% return, which is significantly higher than BRW's -0.25% return.
JIPIX
- 1D
- -0.19%
- 1M
- 0.52%
- YTD
- 1.14%
- 6M
- 1.46%
- 1Y
- 5.68%
- 3Y*
- 4.81%
- 5Y*
- 1.16%
- 10Y*
- 2.78%
BRW
- 1D
- 0.15%
- 1M
- -2.78%
- YTD
- -0.25%
- 6M
- 0.62%
- 1Y
- -4.10%
- 3Y*
- 8.94%
- 5Y*
- 6.18%
- 10Y*
- —
JIPIX vs. BRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
JIPIX John Hancock Funds Strategic Income Opportunities Fund | 1.14% | 7.50% | 2.23% | 6.45% | -10.43% | 0.11% |
BRW Saba Capital Income & Opportunities Fund | -0.25% | 5.89% | 12.16% | 18.49% | -4.64% | 3.19% |
Correlation
The correlation between JIPIX and BRW is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since May 5, 2021 | 0.24 |
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Return for Risk
JIPIX vs. BRW — Risk / Return Rank
JIPIX
BRW
JIPIX vs. BRW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Funds Strategic Income Opportunities Fund (JIPIX) 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.
| JIPIX | BRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.22 | ||
| Sortino ratioReturn per unit of downside risk | +3.16 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.96 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | -0.23 | +2.22 |
| Martin ratioReturn relative to average drawdown | 7.38 | -0.40 | +7.78 |
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Drawdowns
JIPIX vs. BRW - Drawdown Comparison
The maximum JIPIX drawdown since its inception was -15.43%, smaller than the maximum BRW drawdown of -17.74%. Use the drawdown chart below to compare losses from any high point for JIPIX and BRW.
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Drawdown Indicators
| JIPIX | BRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.43% | -17.74% | +2.31% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -17.74% | +14.87% |
Max Drawdown (3Y)Largest decline over 3 years | -5.40% | -17.74% | +12.34% |
Max Drawdown (5Y)Largest decline over 5 years | -15.43% | -17.74% | +2.31% |
Max Drawdown (10Y)Largest decline over 10 years | -15.43% | — | — |
Current DrawdownCurrent decline from peak | -0.74% | -12.10% | +11.36% |
Average DrawdownAverage peak-to-trough decline | -2.43% | -3.99% | +1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.77% | 10.16% | -9.39% |
Volatility
JIPIX vs. BRW - Volatility Comparison
The current volatility for John Hancock Funds Strategic Income Opportunities Fund (JIPIX) is 0.98%, while Saba Capital Income & Opportunities Fund (BRW) has a volatility of 4.17%. This indicates that JIPIX 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
| JIPIX | BRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 4.17% | -3.19% |
Volatility (6M)Calculated over the trailing 6-month period | 2.40% | 8.18% | -5.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.98% | 13.33% | -10.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.13% | 12.93% | -8.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.14% | 12.89% | -8.75% |
JIPIX vs. BRW - Expense Ratio Comparison
JIPIX has a 0.76% expense ratio, which is lower than BRW's 1.71% expense ratio.
Dividends
JIPIX vs. BRW - Dividend Comparison
JIPIX's dividend yield for the trailing twelve months is around 3.85%, less than BRW's 15.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRW Saba Capital Income & Opportunities Fund | 15.71% | 14.46% | 12.27% | 16.02% | 13.82% | 4.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
JIPIX John Hancock Funds Strategic Income Opportunities Fund | 3.85% | 3.73% | 2.59% | 2.23% | 3.77% | 2.87% | 2.03% | 2.72% | 3.71% | 3.14% | 2.54% | 6.91% |
Frequently Asked Questions
JIPIX and BRW have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRW has higher volatility (4.17%) compared to JIPIX (0.98%). In terms of maximum drawdown, JIPIX dropped -15.43% vs BRW's -17.74%.
JIPIX currently has the higher Sharpe Ratio (1.92 vs -0.31), 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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